Greenkraft Stock (OTC:GKIT), Trade Ideas

Greenkraft Inc is a manufacturer and distributor of automotive products. It manufactures commercial forward cabin trucks for vehicles in alternative fuels and electric vehicles. The company also manufactures and sells alternative fuel engines. Its products include Commercial trucks, Alternative fuel systems and Engines.

Greenkraft Inc

Sam Adams maker Boston Beer Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAM#NYSE">SAM</a>) isn&#8217;t seeing its cannabis-infused beverage segment tap revenue <a href="https://www.benzinga.com/topic/beer">from its flagship lager</a>. 
What Happened: The company disclosed its financial results for the first quarter, which ended on March 30. Its performance exceeded analyst expectations, too. 
<ul>
<li>The company reported a net revenue of $426.1 million </li>
<li>That&#8217;s more than 3.1% higher than analyst estimates of $413.21 million.</li>
<li>Earnings per share (EPS) of $1.04 was above the analyst estimate for EPS of 9 cents.</li>
</ul>
Sam Adams likely owes some of its success to the backlash Anheuser-Busch Inbev (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>) faced from conservative beer drinkers. The Bud Light parent company <a href="https://www.benzinga.com/news/earnings/24/02/37398043/why-bud-light-parent-ab-inbev-shares-are-taking-a-hit-today">saw sales plummet</a> on the heels of a promotional campaign with transgender influencer Dylan Mulvaney.
THC&#8217;s so-called cannibalization of alcohol doesn&#8217;t seem to resonate at Sam Adams, nor does it track at Tilray Brands Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>). The Florida-based cannabis company, which <a href="https://www.benzinga.com/markets/cannabis/23/10/35031971/tilray-completes-acquisition-of-8-beer-brands-from-bud-light-parent-anheuser-busch">purchased craft beer brands </a>from AB Inbev, <a href="https://news.bloomberglaw.com/cannabis/craft-beer-is-saving-tilray-from-cannabis-vegetable-woes-1">saw</a> alcohol revenue spike 117% to $47 million.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37893077/3-beer-stocks-what-this-analyst-thinks-is-brewing">3 Beer Stocks — What This Analyst Thinks Is Brewing</a>
Why It Matters: Even before Boston Beer first <a href="https://www.bostonbeer.com/news/2021/05/the-boston-beer-company-to-begin-research-and-development-of-non-alcoholic-cannabis-beverages" target="_blank" rel="noreferrer noopener">entered</a> the cannabis beverage market, industry analysts (i.e., Deloitte) <a href="https://www2.deloitte.com/content/dam/Deloitte/ca/Documents/c-and-ip/ca-en-consumer-nurturing-new-growth-en-aoda-may31.pdf">predicted</a> that alcohol and tobacco companies would utilize M&amp;A or establish new product segments &#8220;to avoid losing market share to competing cannabis products.&#8221;
But, as it turns out, Boston Beer&#8217;s customers are still enjoying Sam Adams in addition to new THC-infused items <a href="https://www.benzinga.com/markets/cannabis/22/05/27344695/the-boston-beer-company-introduces-teapot-a-new-line-of-cannabis-infused-iced-teas" target="_blank" rel="noreferrer noopener">such as</a> Teapot.
Teapot, the 40-year-old company boasts, is Canada&#8217;s premier cannabis tea brand. The company did not disclose THC beverage sales numbers in its most recent financial <a href="https://investors.bostonbeer.com/news-releases/news-release-details/boston-beer-reports-first-quarter-financial-results-1">report</a>. 
"We saw a unique opportunity as consumer relationships with alcohol evolve, especially in a post-COVID world, where cannabis acceptance is on the rise. This convergence of trends led us to create <a href="https://www.benzinga.com/topic/cannabis-beverages" target="_blank" rel="noreferrer noopener">cannabis-infused beverages</a>," Paul Weaver, head of cannabis at Boston Beer, told Benzinga last year.
Teapot is not listed among Boston Beer&#8217;s so-called &#8220;core brands&#8221; (Sam Adams, Angry Orchard Hard Cider, Dogfish Head, Truly Hard Seltzer and Twisted Tea). 
Boston Beer also backs Uncle Arnie&#8217;s, a <a href="https://www.benzinga.com/markets/cannabis/23/06/32829540/thc-beverage-uncle-arnies-raises-capital-with-investments-from-samuel-adams-founders">cannabis-infused beverage startup</a>. 
Other beer giants aren&#8217;t bullish on the THC drink segment. Molson Coors Beverages Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>), for example, exited a cannabis-related joint venture <a href="https://www.benzinga.com/markets/cannabis/22/11/29784310/molson-coors-says-farewell-to-cannabis-and-its-partnership-with-hexo-heres-why">HEXO Corp. in 2022</a>. 
Now Read: <a href="https://www.benzinga.com/markets/cannabis/23/08/34125331/boston-beer-exec-wants-to-turn-time-tested-liquor-logic-into-cannabis-retail-gold">Boston Beer Exec Wants To Turn Time-Tested Liquor Logic Into Cannabis Retail Gold</a>
Image: Shutterstock

Cannabis

TLRY

Sam Adams Says Hold My Beer — And You Are: Sales Numbers Dispute Cannabis Cannibalization Narrative

News

INTC

Apollo, KKR, Stonepeak Consider Investment In Intel Chip Joint Venture

WIIM

RIVN

Rivian shares are trading higher after the company announced plans to make its fast-charging network available to all EVs by late 2024.

PARA

PARAA

Matrix Asset Advisors Say Majority Of Paramount Shareholders Are Against Paramount/Skydance Deal ,feel Deal Is Not In Shareholders' Interests

U.S. stocks traded higher toward the end of trading, with the Dow Jones index gaining more than 200 points on Friday.
The Dow traded up 0.57% to 38,303.11 while the NASDAQ rose 2.01% to 15,925.77. The S&amp;P 500 also rose, gaining, 1.14% to 5,106.22.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38458706/top-4-materials-stocks-that-may-explode-in-q2">Top 4 Materials Stocks That May Explode In Q2</a>
Leading and Lagging Sectors Communication services shares rose by 4.3% on Friday.
In trading on Friday, energy shares dipped by 0.8%.
Top Headline
Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) shares rose more than 2% on Friday after the company posted better-than-expected earnings and sales results for its third quarter.
The company&#8217;s revenue increased 17% year-over-year to $61.9 billion, which beat the consensus estimate of $60.804 billion, according to Benzinga Pro. The tech giant reported quarterly earnings of $2.94 per share, which beat analyst estimates of $2.82 per share.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Biodexa Pharmaceuticals Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BDRX#NASDAQ">BDRX</a>) shares shot up 78% to $1.2783 after the company entered an exclusive license agreement with Rapamycin Holdings for the rights to eRapa.</li>
<li>Shares of Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) got a boost, surging 26% to $14.41 after the company reported better-than-expected first-quarter financial results and issued second-quarter revenue guidance above estimates. Also, the company reported a year-over-year increase in quarterly daily active users.</li>
<li>Universal Logistics Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULH#NASDAQ">ULH</a>) shares were also up, gaining 37% to $44.99 after the company reported better-than-expected first-quarter financial results.</li>
</ul>
Equities Trading DOWN
<ul>
<li>iClick Interactive Asia Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLK#NASDAQ">ICLK</a>) shares dropped 53% to $1.20 after the company announced the termination of its merger agreement.</li>
<li>Shares of Nuwellis, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUWE#NASDAQ">NUWE</a>) were down 41% to $0.17 after the company reported pricing of $2.7 million public offering.</li>
<li>Saia, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAIA#NASDAQ">SAIA</a>) was down, falling 20% to $433.74 after the company reported worse-than-expected first-quarter financial results.</li>
</ul>
Also Check This Out: <a href="https://www.benzinga.com/news/earnings/24/04/38459594/how-to-earn-500-a-month-from-dominos-pizza-stock-ahead-of-q1-earnings">How To Earn $500 A Month From Domino&#8217;s Pizza Stock Ahead Of Q1 Earnings</a>
Commodities In commodity news, oil traded up 0.2% to $83.71 while gold traded up 0.4% at $2,352.70.
Silver traded up 0.1% to $27.37 on Friday, while copper rose 0.8% to $4.5740.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 1.11%, London's FTSE 100 rose 0.75% while Spain's IBEX 35 Index rose 1.56% The German DAX rose 1.36% French CAC 40 rose 0.89% while Italy's FTSE MIB Index climbed 0.91%.
Bank lending to households in the Eurozone rose by 0.2% year-over-year to €6.875 trillion in March. Spain&#8217;s retail trade increased by 0.6% year-over-year in March versus a revised 1.8% gain in the earlier month, while unemployment rate increased to 12.29% in the first quarter.
The consumer confidence indicator in France declined to 90 in April versus a reading of 91 in the prior month.
Asia Pacific Markets
Asian markets closed mostly higher on Friday, with Japan's Nikkei 225 gaining 0.81%, Hong Kong's Hang Seng Index jumping 2.12%, China's Shanghai Composite climbing 1.17% and India's S&amp;P BSE Sensex falling 0.82%.
The Bank of Japan maintained its key short-term interest rate unchanged at its April meeting. Singapore&#8217;s manufacturing production declined 9.2% year-over-year in March versus a revised 4.4% increase in the prior month.
Economics
<ul>
<li>The Federal Reserve's preferred measure of inflation – the Personal Consumption Expenditure (PCE) price index – rose more than expected in March. The headline PCE price index rose from 2.5% in February 2024 to 2.7% year-on-year in March, beating forecasts of a 2.6% increase, the Bureau of Economic Analysis reported Friday.</li>
<li>U.S. personal income increased by 0.5% from the prior month in March, while personal spending rose by 0.8%.</li>
<li>The University of Michigan consumer sentiment was revised lower to 77.2 in April compared to a preliminary reading of 77.9, and versus 79.4 in March.</li>
<li>The total number of active U.S. oil rigs fell by 5 rigs this week, Baker Hughes Inc reported</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/top-stories/24/04/38459336/i-dont-want-you-to-lose-any-money-jim-cramer-on-this-industrial-stock-go-buy-ge-vernova">&#8216;I Don&#8217;t Want You To Lose Any Money&#8217;: Jim Cramer On This Industrial Stock: &#8216;Go Buy GE Vernova&#8217;</a>

Earnings

Eurozone

Commodities

Intraday Update

Markets

Trading Ideas

BDRX

ICLK

MSFT

NUWE

SAIA

SNAP

Dow Surges Over 200 Points; Microsoft Shares Gain Following Upbeat Earnings

Liberty Broadband's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LBRDA#NYSE">LBRDA</a>) short percent of float has fallen 7.22% since its last report. The company recently reported that it has 148 thousand shares sold short, which is 0.9% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.43 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Liberty Broadband Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714157122_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Liberty Broadband has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Liberty Broadband's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Liberty Broadband's peer group average for short interest as a percentage of float is 10.65%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

LBRDA

(LBRDA) - Analyzing Liberty Broadband's Short Interest

SolarEdge Technologies's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NYSE">SEDG</a>) short percent of float has risen 14.92% since its last report. The company recently reported that it has 8.91 million shares sold short, which is 15.71% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.08 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>SolarEdge Technologies Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714157117_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for SolarEdge Technologies has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing SolarEdge Technologies's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, SolarEdge Technologies's peer group average for short interest as a percentage of float is 6.52%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

SEDG

(SEDG) - Analyzing SolarEdge Technologies's Short Interest

Graphic Packaging Holding's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPK#NYSE">GPK</a>) short percent of float has risen 17.51% since its last report. The company recently reported that it has 12.96 million shares sold short, which is 5.37% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.62 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Graphic Packaging Holding Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714157111_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Graphic Packaging Holding has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Graphic Packaging Holding's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Graphic Packaging Holding's peer group average for short interest as a percentage of float is 2.99%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Peering Into Graphic Packaging Holding's Recent Short Interest

Canadian Biotech company&nbsp;Acuitas Therapeutics&nbsp;and Germany-based&nbsp;CureVac&nbsp;NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVAC#NASDAQ">CVAC</a>) have settled Acuitas&#8217; lawsuit over credit for inventions tied to COVID-19 vaccines.
In November 2023,&nbsp;Acuitas Therapeutics&nbsp;filed a lawsuit in Virginia federal court against&nbsp;CureVac, accusing it of failing to credit Acuitas on patents&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/23/11/35799395/acuitas-challenges-curevac-in-legal-tussle-over-covid-19-vaccine-technology" rel="noreferrer noopener">related to COVID-19 vaccines</a>.
Acuitas&nbsp;told&nbsp;the court that CureVac omitted its scientists from patent applications for lipid nanoparticle technology used in messenger RNA-based vaccines after collaborating to develop the technology during the COVID-19 pandemic.
This move&nbsp;would&nbsp;allow Acuitas to license them without CureVac&#8217;s consent.&nbsp;
Reuters highlighted that CureVac refuted these claims in a court filing made in February.
Acuitas has previously&nbsp;<a target="_blank" href="https://www.pfizer.com/news/press-release/press-release-detail/pfizer-enters-agreement-acuitas-therapeutics-lipid" rel="noreferrer noopener">secured</a>&nbsp;a separate license for the lipid nanoparticle technology employed in the COVID-19 vaccine developed by&nbsp;Pfizer Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) and&nbsp;BioNTech SE&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>).
This settlement between Acuitas Therapeutics and CureVac follows a broader legal landscape wherein CureVac has accused Pfizer and BioNTech of patent infringement, including the patents pertinent to the Acuitas case, within an ongoing lawsuit in Virginia federal court.
In July 2023,&nbsp;Pfizer and&nbsp;BioNTech filed a complaint&nbsp;with the U.S. District Court in Massachusetts, seeking a judgment that they did not infringe patents related to the COVID-19 vaccine&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/22/07/28210064/biontech-pfizer-file-for-clearance-over-covid-19-vaccine-patent-dispute-with-curevac" rel="noreferrer noopener">held by&nbsp;CureVac</a>.
In December 2023, a German court invalidated a patent central to&nbsp;CureVac&#8217;s lawsuit against&nbsp;BioNTech&nbsp;related to seeking fair compensation for infringement of a portfolio of CureVac&#8217;s intellectual property rights utilized in Comirnaty, BioNTech, and&nbsp;Pfizer&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/23/12/36305189/why-is-covid-19-vaccine-player-curevac-stock-plummeting-today" rel="noreferrer noopener">mRNA COVID-19 vaccine</a>.
The ruling&nbsp;represents&nbsp;the first decision on validity in ongoing patent litigation between CureVac and BioNTech in Germany, involving eight CureVac intellectual property rights.&nbsp;
Thursday,&nbsp;GSK Plc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>) reportedly took legal action against&nbsp;Pfizer&nbsp;and&nbsp;BioNTech&nbsp;in a Delaware federal court, alleging patent infringement concerning mRNA technology used in the COVID-19 vaccines.&nbsp;The lawsuit contends that Pfizer and BioNTech&#8217;s Comirnaty vaccines&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/04/38440329/whats-going-on-with-pfizer-stock-on-thursday" rel="noreferrer noopener">violate GSK&#8217;s patents</a>.
Price Action:&nbsp;CVAC shares are down 0.65% at $2.29&nbsp;at the last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Biotech

Large Cap

Health Care

Legal

General

BNTX

CVAC

COVID-19 Patent Dispute Sorted: Acuitas Therapeutics and CureVac Reach Settlement In Patent Battle

Analyst Ratings

Fitch Sees Boeing To Continue To Generate Positive Annual FCF Throughout Rating Case With Potential To Approach Double Digit Billions By End Of 2027; Says Believes A Potential All-Debt-Funded Acquisition Of Spirit Is Captured Within Negative Outlook For Boeing

On Thursday, Evernorth Health Services said its Accredo arm will make a Humira biosimilar available to patients with no <a href="https://www.benzinga.com/pressreleases/24/04/n38444988/evernorth-announces-humira-biosimilar-available-at-0-out-of-pocket-for-accredo-patients-in-june" target="_blank" rel="noreferrer noopener">out-of-pocket costs</a>. Evernorth is a subsidiary of The Cigna Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>).
Beginning in June, the high- and low-concentration interchangeable biosimilar will&nbsp;be produced&nbsp;for Evernorth&#8217;s affiliate private-label pharmaceutical distributor, Quallent Pharmaceuticals, through agreements&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/23/07/33386891/seven-humira-biosimilars-increased-competition-in-arthritis-drug-market-sparks-need-for-reform-of" rel="noreferrer noopener">with multiple manufacturers</a>.
Most patients will be able to secure the biosimilar products for $0 out-of-pocket through the copay assistance programs offered at Quallent beginning in June, Evernorth said.
This program is estimated to save individual patients around&nbsp;$3,500&nbsp;on average per year.
According to the announcement, the biosimilar price is about 85% lower than that of branded Humira.&nbsp;More than 100,000 Accredo patients use either Humira or one of its biosimilars, the company said.
The specialty pharmacy provides patients with a Therapeutic Resource Center&nbsp;to&nbsp;connect to specialty-trained pharmacists and nurses who are available&nbsp;around the clock.&nbsp;Accredo&#8217;s centers cover 15 specific conditions.
Humira is&nbsp;AbbVie&nbsp;Inc&#8217;s&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) blockbuster arthritis drug. In the most recent first-quarter earnings, Humira generated sales of&nbsp;$2.27 billion&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/04/38460664/ex-humira-growth-platform-drives-abbvies-q1-performance-drugmaker-lifts-annual-profit-outlook" rel="noreferrer noopener">(down 35.9%&nbsp;Y/Y)</a>.
Reuters notes that AbbVie has held onto more than 98% of the Humira market despite nine biosimilars being launched in the U.S. last year.&nbsp;
Citing IQVIA data,&nbsp;Reuters highlighted that privately-held German drugmaker Boehringer launched its version, Cyltezo, last July but has only sold a couple of thousand prescriptions since then.
Reuters report added that almost 3 million Humira prescriptions have been written during the same period, although&nbsp;tens of thousands of scripts have started to shift to biosimilar Hyrimoz each week since&nbsp;CVS Health&#8217;s Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) pharmacy benefits unit took Humira off the list of drugs it recommends insurers reimburse.&nbsp;
Price Action: CI shares are down 0.07% at $354.25 at the last check Friday.
Image: Phoenix Locklear from Pixabay

ABBV

Arthritis Patients - Cigna's Evernorth To Offer Humira Biosimilar At No Out-of-Pocket Cost

Needham analyst Kyle Peterson maintains Trinet Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNET#NYSE">TNET</a>) with a Buy and lowers the price target from $150 to $140.

Price Target

TNET

Needham Maintains Buy on Trinet Group, Lowers Price Target to $140

MOG/A

Moog shares are trading higher after the company reported better-than-expected Q2 financial results and raised FY24 guidance above estimates.

<a href="https://www.washingtonpost.com/health/2024/04/26/menthol-cigarette-ban-delayed-biden-administration/" title="https://www.washingtonpost.com/health/2024/04/26/menthol-cigarette-ban-delayed-biden-administration/">https://www.washingtonpost.com/health/2024/04/26/menthol-cigarette-ban-delayed-biden-administration/</a>

Macro Economic Events

Economics

U.S. Health Secretary Says Proposed Menthol Rule To Take More Time

CORRECTION: Moog shares are trading higher

Mobileye Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) reported a 48% year-on-year revenue decline <a href="https://www.benzinga.com/news/earnings/24/04/38432965/intel-spinoff-mobileye-revenue-falls-amid-supply-chain-reset-ceo-optimistic-about-recovery">for the first quarter</a>.
According to Morgan Stanley, the stiff competition and the unexpected downturn in electric vehicle (EV) adoption limits Mobileye's TAM (total addressable market) through 2030.
The Mobileye Global Analyst: Adam Jonas downgraded the rating for Mobileye Global from Equal-Weight to Underweight. He also lowered the price target from $26 to $25.
The Mobileye Global Thesis: While Mobileye Global's SuperVision product is "impressive," its potential relies on several factors that are outside the company's control, Jonas said in the downgrade note.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
"While we see significant value in Mobileye&#8217;s position as a market leader in computer vision and core ADAS offerings," there are headwinds for new content growth for advanced ADAS systems, the analyst wrote.
The EV deceleration limits the near-term TAM for SuperVision, "as legacy automakers (driven by capital discipline) elect not to allocate their capex and R&amp;D dollars on AV tech for mass market ICE platforms," he added.
Mobileye Global is facing heightened competition within and outside China. Jonas cited low-cost providers, and pure-play semiconductor companies like Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>). 
Big tech players, like Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), are also exploring ADAS. Several automakers are also exploring in-house solutions like Volkswagen AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>) and Xiaomi Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/XIACF#OTC">XIACF</a>), Jonas further stated.
MBLY Price Action: Shares of Mobileye Global had declined by 6.05% to $29.03 at the time of publication on Friday.
Now Read: <a href="https://www.benzinga.com/news/earnings/earnings-beats/24/04/38467013/tech-stocks-rebound-as-magnificent-7-roar-on-strong-earnings-energy-giants-tumble-wh">Tech Stocks Rebound As Magnificent 7 Roar On Strong Earnings, Energy Giants Tumble: What&#8217;s Driving Markets Friday?</a>
Image: Wikimedia Commons

Analyst Color

Downgrades

Movers

AAPL

MBLY

NVDA

QCOM

VWAGY

XIACF

Mobileye Global Hit By Surprise EV Slowdown; This Analyst Turns Bearish

JMP Securities analyst Trevor Walsh reiterates Tyler Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TYL#NYSE">TYL</a>) with a Market Outperform and maintains $490 price target.

Reiteration

JMP Securities Reiterates Market Outperform on Tyler Technologies, Maintains $490 Price Target

Vertex Pharmaceuticals Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>) blockbuster drug Trikafta for cystic fibrosis (CF) has shown remarkable efficacy, potentially extending the lives of some patients by up to 45 years.&nbsp;
Despite its high cost of&nbsp;$300,000 per patient&nbsp;annually in the U.S., sales remain robust.
Since its launch in 2019, Trikafta has amassed $26 billion in revenues and&nbsp;is expected&nbsp;to reach $10 billion in annual sales next year.&nbsp;
Additionally, Vertex anticipates regulatory approval for its fifth CF treatment, the&nbsp;vanza&nbsp;triple, this year, with projected annual sales&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/02/36957190/vertex-pharmaceuticals-triple-combo-treatment-for-lung-disorder-meets-primary-goal-in-adult-and-p" rel="noreferrer noopener">matching Trikafta&#8217;s success</a>.
The Financial Times cites a Guggenheim Securities analyst and&nbsp;<a target="_blank" href="https://www.ft.com/content/39ed9ca1-e49b-48cd-ac6d-acb4b9744432" rel="noreferrer noopener">writes</a>&nbsp;that Vertex is poised for substantial growth and will emerge as a top contender among pharmaceutical companies.
Daniel Lyons, a portfolio manager at Janus Henderson, highlights Vertex&#8217;s dominant position in CF treatment. Patent protection extends until at least 2039, providing a solid foundation for sustained profitability and continued research investments.
Now, the same research team at Vertex&#8217;s San Diego lab is nearing the culmination of another extensive project: developing non-opioid painkillers, presenting a new avenue for substantial market expansion.
Vertex&#8217;s challenge lies in replicating its success in cystic fibrosis (CF) treatment across other diseases.&nbsp;
Recently, it gained regulatory approval for a groundbreaking CRISPR gene editing-based therapy for sickle cell disease and beta-thalassemia.&nbsp;
Moreover, Vertex acquired&nbsp;Alpine Immune Sciences Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALPN#NASDAQ">ALPN</a>) for $4.9 billion, a move aimed at developing a treatment for&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/04/38201798/vertex-pharmaceuticals-move-beyond-its-10b-cystic-fibrosis-franchise-pays-around-5b-for-kidney-di" rel="noreferrer noopener">autoimmune kidney disease</a>.&nbsp;
However, analysts highlight a new generation of non-addictive painkillers as the most promising in Vertex&#8217;s pipeline.&nbsp;
VX-548, a non-opioid painkiller, is undergoing late-stage clinical trials and shows potential for&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/01/36846814/why-is-vertex-pharmaceuticals-stock-sliding-today" rel="noreferrer noopener">FDA approval this year</a>.&nbsp;
It promises reduced pain with fewer side effects and no risk of addiction compared to traditional opioids.
The Financial Times highlights that analysts predict that Vertex&#8217;s new acute pain medication will bring in $2.3 billion&nbsp;in&nbsp;yearly sales by 2030. However, the real potential lies in their approved non-opioid painkiller, offering an alternative&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/23/12/36216498/vertexs-non-opioid-diabetes-associated-nerve-pain-treatment-candidate-aces-mid-stage-trial" rel="noreferrer noopener">to prescription opioids</a>.
Price Action:&nbsp;VRTX shares are up 0.08% at $398.02&nbsp;at the last check Friday.

ALPN

VRTX

$100B Vertex Pharma Working To Recreate $10B Cystic Fibrosis Success - This Time Focused On Pain Management Drugs

The public debut of Trump Media &amp; Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) has been one of the bigger storylines of 2024 and the company is now warnings of <a href="https://www.benzinga.com/markets/equities/24/04/38337541/trump-media-technology-group-alleges-naked-short-selling-seeks-nasdaqs-intervention">potential stock manipulation</a>.
A new report said investors shorting the newly public stock have made millions of dollars.
What Happened: After a long awaited SPAC merger with Digital World Acquisition Corporation, Trump Media &amp; Technology Group (TMTG)<a href="https://www.benzinga.com/m-a/24/03/37943780/exclusive-trump-media-company-goes-public-financial-experts-say-djt-a-meme-stock-this-is-going-to-be"> is now publicly traded.</a> The stock gives investors a way to bet for or against former President Donald Trump and also his social media company.
After hitting a high of $79.38 in its first day of public trading, shares of Trump Media &amp; Technology Group have pulled back.
Several investors have been betting on shares of the media company to fall, despite rising short interest and a high cost to borrow. Data from <a href="https://fintel.io/ss/us/djt">Fintel </a>shows 10.8% of the float short and a cost to borrow of 214.9%.
Investors interviewed by the Associated Press reported making money betting on shares to fall by shorting the stock and buying put options, as <a href="https://abcnews.go.com/US/wireStory/rooting-trump-fail-made-stock-shorters-millions-109663622">reported </a>by ABC News. 
Some of the people betting against the new stock are doing so based on not liking Trump, and many are doing it based on the financials of the company.
"(Trump's) not as a great a businessman as he thinks. A lot of his businesses go belly up, quickly," one interviewee told the Associated Press.
Data from FactSet and S3 Partners shows investors making $200 million in paper profits so far by shorting the stock and using put options.
Related Link: <a href="https://www.benzinga.com/general/sports-betting/24/04/38417836/trump-and-biden-get-ready-2024-election-betting-odds-point-to-major-showdown">Trump And Biden, Get Ready: 2024 Election Betting Odds Point To Major Showdown</a>
Why It's Important: Some investors recognize the risk of a potential short squeeze that could elevate share prices. They also acknowledge that an increasing number of Trump supporters might purchase the stock to demonstrate support and assist with his legal and fundraising initiatives.
"If DJT starts rallying, you're going to see the mother of all squeezes," S3 Partners' Ihor Dusaniwsky said. "This if not for the faint of heart."
Trump<a href="https://www.benzinga.com/general/politics/24/04/38298524/trump-sees-net-worth-dip-below-4b-after-truth-social-stock-tumbles-could-ex-president-sell-share"> owns 57.6% in the Truth Social parent company</a> – 78.75 million shares, with another 36 million shares potentially owned base on earn-outs. The former president is currently unable to sell shares due to a lock-up agreement that was part of the merger.
Trump selling a large number of shares could also send the share price down in the coming months.
The risk of the company restricting share borrowing complicates efforts to bet against Trump's stock through short selling.
The company has alerted Nasdaq to potential illegal short selling of its stock and is advising investors to safeguard their shares from being loaned to short sellers. This strategy could reduce the number of shares available for short selling and increase the cost of borrowing.
While TMTG shares are down 44% in the last month, the stock is up 17% in the last five trading days, which comes from the headline news on short selling and as shares remain volatile during Trump's hush money trial.
DJT Price Action: Trump Media &amp; Technology Group shares are up 11.3% to $42.86 versus a 52-week trading range of $12.40 to $79.38, which includes time as Digital World Acquisition. Shares are up 208% over the last year.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38410320/stock-manipulation-in-trump-media-technology-group-stock-ceo-devin-nunes-urges-house-gop-leaders">Stock Manipulation In Trump Media &amp; Technology Group Stock? CEO Devin Nunes Urges House GOP Leaders To Investigate</a>
Photo: Shutterstock

Social Media

Politics

Trump's Stock Loss Means Millions For Short Sellers: 'A Lot Of His Businesses Go Belly Up, Quickly'

Financial giants have made a conspicuous bullish move on Barrick Gold. Our analysis of options history for Barrick Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) revealed 21 unusual trades.
Delving into the details, we found 57% of traders were bullish, while 38% showed bearish tendencies. Out of all the trades we spotted, 11 were puts, with a value of $1,351,379, and 10 were calls, valued at $508,821.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $11.0 to $25.0 for Barrick Gold over the last 3 months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for Barrick Gold options trades today is 10980.81 with a total volume of 11,440.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Barrick Gold's big money trades within a strike price range of $11.0 to $25.0 over the last 30 days.
<h3>Barrick Gold Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714156268_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>GOLD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$2.44</td>
<td>$2.34</td>
<td>$2.33</td>
<td>$17.00</td>
<td>$405.5K</td>
<td>13.6K</td>
<td>0</td>
</tr>
<tr>
<td>GOLD</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$2.37</td>
<td>$2.35</td>
<td>$2.37</td>
<td>$17.00</td>
<td>$200.2K</td>
<td>13.6K</td>
<td>2.6K</td>
</tr>
<tr>
<td>GOLD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$8.0</td>
<td>$7.9</td>
<td>$7.9</td>
<td>$25.00</td>
<td>$177.7K</td>
<td>152</td>
<td>225</td>
</tr>
<tr>
<td>GOLD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$5.15</td>
<td>$5.1</td>
<td>$5.1</td>
<td>$22.00</td>
<td>$168.3K</td>
<td>0</td>
<td>110</td>
</tr>
<tr>
<td>GOLD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>08/16/24</td>
<td>$0.97</td>
<td>$0.95</td>
<td>$0.95</td>
<td>$18.00</td>
<td>$95.0K</td>
<td>950</td>
<td>1.0K</td>
</tr>
</tbody>
</table>

<h3>About Barrick Gold</h3>
Based in Toronto, Barrick Gold is one of the world's largest gold miners. In 2023, the firm produced nearly 4.1 million attributable ounces of gold and about 420 million pounds of copper. At end 2023, Barrick had about two decades of gold reserves along with significant copper reserves. After buying Randgold in 2019 and combining its Nevada mines in a joint venture with competitor Newmont later that year, it operates mines in 19 countries in the Americas, Africa, the Middle East, and Asia. The company also has growing copper exposure. Its potential Reko Diq project in Pakistan, if developed, could double copper production by the end of the decade.
In light of the recent options history for Barrick Gold, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Current Position of Barrick Gold</h3>
<ul>
<li>Currently trading with a volume of 13,611,866, the GOLD's price is up by 0.7%, now at $17.2. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 5 days.</li>
</ul>
<h3>What Analysts Are Saying About Barrick Gold</h3>
1 market experts have recently issued ratings for this stock, with a consensus target price of $26.0.
<ul>
<li>An analyst from BMO Capital persists with their Outperform rating on Barrick Gold, maintaining a target price of $26. </li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Barrick Gold with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

GOLD

Barrick Gold Options Trading: A Deep Dive into Market Sentiment

Greenkraft