Latest News for Global Star Acq Stock (NASDAQ:GLSTU)

Global Star Acquisition Inc is a blank check company.

Global Star Acquisition Inc

Financial giants have made a conspicuous bearish move on Enphase Energy. Our analysis of options history for Enphase Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) revealed 8 unusual trades.
Delving into the details, we found 12% of traders were bullish, while 87% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $128,040, and 6 were calls, valued at $330,425.
<h3>Expected Price Movements</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $80.0 to $150.0 for Enphase Energy during the past quarter. 
<h3>Insights into Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Enphase Energy's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Enphase Energy's whale trades within a strike price range from $80.0 to $150.0 in the last 30 days. 
<h3>Enphase Energy 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715784388_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 style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>ENPH</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$10.15</td>
<td>$8.8</td>
<td>$8.78</td>
<td>$110.00</td>
<td>$87.7K</td>
<td>1.6K</td>
<td style="text-align: right;">103</td>
</tr>
<tr>
<td>ENPH</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$7.25</td>
<td>$7.1</td>
<td>$7.25</td>
<td>$125.00</td>
<td>$85.5K</td>
<td>1.2K</td>
<td style="text-align: right;">120</td>
</tr>
<tr>
<td>ENPH</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$6.4</td>
<td>$6.25</td>
<td>$6.22</td>
<td>$95.00</td>
<td>$83.9K</td>
<td>252</td>
<td style="text-align: right;">135</td>
</tr>
<tr>
<td>ENPH</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$57.3</td>
<td>$56.6</td>
<td>$56.6</td>
<td>$80.00</td>
<td>$56.6K</td>
<td>139</td>
<td style="text-align: right;">10</td>
</tr>
<tr>
<td>ENPH</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/24/24</td>
<td>$3.9</td>
<td>$3.75</td>
<td>$3.9</td>
<td>$115.00</td>
<td>$44.0K</td>
<td>60</td>
<td style="text-align: right;">156</td>
</tr>
</tbody>
</table>

<h3>About Enphase Energy</h3>
Enphase Energy is a global energy technology company. The company delivers smart, easy-to-use solutions that manage solar generation, storage, and communication on one platform. The company's microinverter technology primarily serves the rooftop solar market and produces a fully integrated solar-plus-storage solution. Geographically, it derives a majority of revenue from the United States.
Having examined the options trading patterns of Enphase Energy, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Current Position of Enphase Energy</h3>
<ul>
<li>Currently trading with a volume of 1,113,352, the ENPH's price is down by -2.19%, now at $114.55. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 71 days.</li>
</ul>
<h3>What The Experts Say On Enphase Energy</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $129.8.
<ul>
<li>An analyst from BMO Capital has decided to maintain their Market Perform rating on Enphase Energy, which currently sits at a price target of $113. </li>
<li>An analyst from B. Riley Securities has decided to maintain their Buy rating on Enphase Energy, which currently sits at a price target of $133. </li>
<li>An analyst from DZ Bank downgraded its action to Hold with a price target of $116. </li>
<li>Maintaining their stance, an analyst from Roth MKM continues to hold a Buy rating for Enphase Energy, targeting a price of $140. </li>
<li>Maintaining their stance, an analyst from Craig-Hallum continues to hold a Buy rating for Enphase Energy, targeting a price of $147. </li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Enphase Energy, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Options

Markets

ENPH

Looking At Enphase Energy's Recent Unusual Options Activity

High-rolling investors have positioned themselves bullish on ServiceNow (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>), and it's important for retail traders to take note. 
\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in NOW often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for ServiceNow. This is not a typical pattern.
The sentiment among these major traders is split, with 37% bullish and 25% bearish. Among all the options we identified, there was one put, amounting to $93,600, and 7 calls, totaling $400,265.
<h3>What's The Price Target?</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $700.0 to $1000.0 for ServiceNow over the recent three months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for ServiceNow's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of ServiceNow's whale activity within a strike price range from $700.0 to $1000.0 in the last 30 days. 
<h3>ServiceNow 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715784383_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</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 style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NOW</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$40.8</td>
<td>$35.6</td>
<td>$40.8</td>
<td>$1000.00</td>
<td>$200.4K</td>
<td style="text-align: right;">361</td>
<td style="text-align: right;">50</td>
</tr>
<tr>
<td>NOW</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$32.5</td>
<td>$30.6</td>
<td>$31.2</td>
<td>$700.00</td>
<td>$93.6K</td>
<td style="text-align: right;">232</td>
<td style="text-align: right;">31</td>
</tr>
<tr>
<td>NOW</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$80.2</td>
<td>$73.9</td>
<td>$77.72</td>
<td>$800.00</td>
<td>$38.8K</td>
<td style="text-align: right;">29</td>
<td style="text-align: right;">5</td>
</tr>
<tr>
<td>NOW</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>09/20/24</td>
<td>$54.4</td>
<td>$54.3</td>
<td>$54.3</td>
<td>$750.00</td>
<td>$38.0K</td>
<td style="text-align: right;">73</td>
<td style="text-align: right;">8</td>
</tr>
<tr>
<td>NOW</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/24/24</td>
<td>$18.7</td>
<td>$16.3</td>
<td>$18.7</td>
<td>$727.50</td>
<td>$33.6K</td>
<td style="text-align: right;">68</td>
<td style="text-align: right;">18</td>
</tr>
</tbody>
</table>

<h3>About ServiceNow</h3>
ServiceNow Inc provides software solutions to structure and automate various business processes via a SaaS delivery model. The company primarily focuses on the IT function for enterprise customers. ServiceNow began with IT service management, expanded within the IT function, and more recently directed its workflow automation logic to functional areas beyond IT, notably customer service, HR service delivery, and security operations. ServiceNow also offers an application development platform as a service.
After a thorough review of the options trading surrounding ServiceNow, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Current Position of ServiceNow</h3>
<ul>
<li>Trading volume stands at 273,064, with NOW's price up by 2.18%, positioned at $737.37.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 70 days.</li>
</ul>
<h3>Expert Opinions on ServiceNow</h3>
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $858.2.
<ul>
<li>Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on ServiceNow with a target price of $900. </li>
<li>Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on ServiceNow with a target price of $830. </li>
<li>An analyst from Citigroup persists with their Buy rating on ServiceNow, maintaining a target price of $906. </li>
<li>In a cautious move, an analyst from Wolfe Research downgraded its rating to Outperform, setting a price target of $830. </li>
<li>An analyst from JMP Securities has revised its rating downward to Market Outperform, adjusting the price target to $825. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest ServiceNow options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Looking At ServiceNow's Recent Unusual Options Activity

Whales with a lot of money to spend have taken a noticeably bearish stance on Home Depot.
Looking at options history for Home Depot (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) we detected 12 trades.
If we consider the specifics of each trade, it is accurate to state that 25% of the investors opened trades with bullish expectations and 41% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $120,500 and 9, calls, for a total amount of $344,490.
<h3>Predicted Price Range</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $305.0 and $370.0 for Home Depot, spanning the last three months.
<h3>Volume &amp; Open Interest Development</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Home Depot's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Home Depot's whale trades within a strike price range from $305.0 to $370.0 in the last 30 days. 
<h3>Home Depot Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715784378_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</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 style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>HD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$6.9</td>
<td>$6.4</td>
<td>$6.9</td>
<td>$350.00</td>
<td>$69.0K</td>
<td>1.4K</td>
<td style="text-align: right;">137</td>
</tr>
<tr>
<td>HD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>11/15/24</td>
<td>$12.65</td>
<td>$11.7</td>
<td>$11.7</td>
<td>$330.00</td>
<td>$58.5K</td>
<td>50</td>
<td style="text-align: right;">50</td>
</tr>
<tr>
<td>HD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>06/21/24</td>
<td>$8.5</td>
<td>$7.75</td>
<td>$8.15</td>
<td>$345.00</td>
<td>$48.9K</td>
<td>960</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>HD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$49.0</td>
<td>$48.4</td>
<td>$48.4</td>
<td>$305.00</td>
<td>$38.7K</td>
<td>225</td>
<td style="text-align: right;">8</td>
</tr>
<tr>
<td>HD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/07/24</td>
<td>$3.85</td>
<td>$3.55</td>
<td>$3.55</td>
<td>$355.00</td>
<td>$35.5K</td>
<td>34</td>
<td style="text-align: right;">100</td>
</tr>
</tbody>
</table>

<h3>About Home Depot</h3>
Home Depot is the world's largest home improvement specialty retailer, operating more than 2,300 warehouse-format stores offering more than 30,000 products in store and 1 million products online in the United States, Canada, and Mexico. Its stores offer numerous building materials, home improvement products, lawn and garden products, and decor products and provide various services, including home improvement installation services and tool and equipment rentals. The acquisition of distributor Interline Brands in 2015 allowed Home Depot to enter the maintenance, repair, and operations business, which has been expanded through the tie-up with HD Supply (2020). Moreover, the additions of the Company Store brought textile exposure to the lineup, while Redi Carpet added multifamily flooring.
<h3>Where Is Home Depot Standing Right Now?</h3>
<ul>
<li>With a volume of 906,469, the price of HD is up 1.82% at $346.71. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 90 days.</li>
</ul>
<h3>What Analysts Are Saying About Home Depot</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $388.2.
<ul>
<li>An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Home Depot, which currently sits at a price target of $420. </li>
<li>Consistent in their evaluation, an analyst from Telsey Advisory Group keeps a Market Perform rating on Home Depot with a target price of $360. </li>
<li>Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Home Depot with a target price of $406. </li>
<li>An analyst from Telsey Advisory Group persists with their Market Perform rating on Home Depot, maintaining a target price of $360. </li>
<li>An analyst from Citigroup persists with their Buy rating on Home Depot, maintaining a target price of $395. </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 Home Depot with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

This Is What Whales Are Betting On Home Depot

News

IPOs

Trading Ideas

Raytech IPO Shares Open For Trade At $5.05/Share; IPO Priced At $4/Share

HC Wainwright &amp; Co. analyst Ed Arce reiterates Genfit (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNFT#NASDAQ">GNFT</a>) with a Buy and maintains $11 price target.

Price Target

Reiteration

Analyst Ratings

GNFT

HC Wainwright & Co. Reiterates Buy on Genfit, Maintains $11 Price Target

Scotiabank analyst Cameron Bean maintains Peyto Exploration &amp; Dev (TSX:<a class="ticker" href="https://www.benzinga.com/stock/PEY#TSX">PEY</a>) with a Sector Outperform and raises the price target from C$20 to C$22.

TSX:PEY

Scotiabank Maintains Sector Outperform on Peyto Exploration & Dev, Raises Price Target to C$22

Dolphin Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLPN#NASDAQ">DLPN</a>) shares are up Wednesday after the company announced better-than-expected <a href="https://www.benzinga.com/wiim/24/05/38830733/dolphin-entertainment-shares-are-trading-higher-after-the-company-reported-a-year-over-year-increase">financial results for the first quarter.</a>
The Details: During Tuesday&#8217;s after-market session, Dolphin Entertainment announced first-quarter earnings that included $15.24 million in revenue, representing a 54% year-over-year increase.
The company reported a loss of two cents per share, which was up from a loss of 23 cents per share in the prior year&#8217;s quarter.
Operating expenses for the first quarter were $15.1 million. Dolphin Entertainment said it had $7.5 million in cash and cash equivalents as of March 31. 
&#8220;By concentrating on organic expansion among our top-tier marketing entities and launching complementary Ventures at a steady pace, we believe we are strategically positioned for sustained growth in both revenue generation and Adjusted Operating Income, the crucial financial metric against which we gauge our performance,&#8221; said Bill O&#8217;Dowd, CEO of Dolphin Entertainment. 
Related Link: <a href="https://www.benzinga.com/news/24/05/38843779/whats-going-on-with-amc-entertainment-stock-wednesday">What&#8217;s Going On With AMC Entertainment Stock Wednesday?</a>
Dolphin Entertainment noted that it will launch Staple Gin, a recipe-driven spirit created by Rachael Ray, this week. Shipments are set to begin on Wednesday. 
In addition, the company said its &#8220;Blue Angels&#8221; documentary, produced under its multi-year partnership with IMAX, will debut in IMAX theaters on Friday and on Amazon Prime on May 23.
Finally, Dolphin Entertainment noted that it&#8217;s in the final stages of selecting an operating partner for Mastercard Midnight Theatre. The company said it expects to make an announcement regarding the selection later this month. 
DLPN Price Action: According to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>, Dolphin shares were up 7.56% at $1.21 at the time of writing.
Image: 2616931 from Pixabay.

Earnings

Movers

DLPN

Dolphin Entertainment Shares Rise After Q1 Earnings Results: The Details

HC Wainwright &amp; Co. analyst Douglas Tsao reiterates Dare Bioscience (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DARE#NASDAQ">DARE</a>) with a Buy and maintains $6 price target.

DARE

HC Wainwright & Co. Reiterates Buy on Dare Bioscience, Maintains $6 Price Target

Scotiabank analyst Ben Isaacson maintains Lithium Royalty (TSX:<a class="ticker" href="https://www.benzinga.com/stock/LIRC#TSX">LIRC</a>) with a Sector Outperform and lowers the price target from C$12 to C$11.

TSX:LIRC

Scotiabank Maintains Sector Outperform on Lithium Royalty, Lowers Price Target to C$11

Investment management giant Vanguard has announced the appointment of Salim Ramji, a former executive from BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) known for his Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) friendly stance, as its new CEO and board member, effective July 8. 
What Happened: Ramji, with 25 years of industry experience, previously headed BlackRock's global exchange-traded fund (ETF) business and was instrumental in launching the iShares Bitcoin Trust (NASDAQ: <a href="https://www.benzinga.com/quote/IBIT">IBIT</a>) in the U.S.
He left BlackRock in January to pursue new leadership opportunities.
&#8220;It&#8217;s an honor to join Vanguard, an institution I have long admired and respected,&#8221; Ramji stated on Tuesday. &#8220;I am drawn to Vanguard because of the firm&#8217;s clarity and consistency of purpose and am very excited to get to work and partner with the outstanding leadership team to lead the company into the future.&#8221;
Ramji emphasized the evolving investment landscape and Vanguard's mission to enhance investor success. 
"The current investor landscape is changing, and that presents opportunities for Vanguard to further its mission of giving people the best chance for investment success, which is more relevant today than at any time in the firm&#8217;s five-decade history. My focus will be to mobilize Vanguard to meet the moment while staying true to that core purpose — remaining the trusted firm that takes a stand for all investors," he added.
Ramji will succeed Tim Buckley, who is set to retire and step down as both Chairman and CEO of Vanguard on the effective date.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38811440/president-biden-cracks-down-on-chinese-backed-crypto-mining-facility-near-u-s-missile-base">President Biden Cracks Down On Chinese-Backed Crypto Mining Facility Near U.S. Missile Base</a>
Mark Loughridge, Vanguard&#8217;s Lead Independent Director, will assume the role of non-executive Chairman.
Reflecting on Ramji's appointment, Buckley remarked, &#8220;I have worked with Salim on the Executive Committee of the Investment Company Institute. He cares about advancing the interests of individual investors, has a strong fiduciary ethos, and thinks strategically about solutions. 
Salim understands our organization&#8217;s deep sense of purpose and commitment to put clients first, which is a hallmark of Vanguard&#8217;s leadership team and culture.&#8221;
The selection of Ramji is notable given Vanguard's historical resistance to Bitcoin. 
Earlier this year, users with brokerage accounts at Vanguard were restricted from purchasing U.S. spot Bitcoin ETFs, unlike many of its competitors.
What&#8217;s Next: The broader implications of Ramji's appointment and its potential impact on Vanguard's approach to cryptocurrency will be a key topic at Benzinga&#8217;s upcoming <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19.
Industry leaders will explore how shifts in leadership and evolving perspectives on digital assets are shaping the <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38794260/arthur-hayes-major-economies-to-print-even-more-money-in-the-next-24-months">future of financial markets.</a>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38811221/this-ai-altcoins-predatory-tokenomics-will-fill-the-pockets-of-team-and-insiders-trader-wa">This AI Altcoin&#8217;s &#8216;Predatory Tokenomics&#8217; Will Fill The Pockets Of Team And Insiders, Trader Warns</a>
Image: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

IBIT

Vanguard Appoints Former BlackRock Executive Salim Ramji As New CEO

HC Wainwright &amp; Co. analyst Joseph Pantginis reiterates Celldex Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLDX#NASDAQ">CLDX</a>) with a Buy and maintains $80 price target.

CLDX

HC Wainwright & Co. Reiterates Buy on Celldex Therapeutics, Maintains $80 Price Target

Morgan Stanley analyst Brian Nowak maintains Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) with a Overweight and maintains $195 price target.

GOOGL

Morgan Stanley Maintains Overweight on Alphabet, Maintains $195 Price Target

Scotiabank analyst Robert Hope maintains Keyera (TSX:<a class="ticker" href="https://www.benzinga.com/stock/KEY#TSX">KEY</a>) with a Sector Outperform and raises the price target from C$38 to C$40.

TSX:KEY

Scotiabank Maintains Sector Outperform on Keyera, Raises Price Target to C$40

Circle Internet Financial, the company behind the <a href="https://www.benzinga.com/money/best-stablecoins-and-4-types-of-stablecoins">world&#8217;s second-largest stablecoin</a> (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>), is set to move its headquarters from Ireland to the United States.
What Happened: While the specific reason for the move remains undisclosed, the company confirmed the filing of legal paperwork to facilitate the relocation, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-05-15/usdc-issuer-circle-to-make-us-legal-home-ahead-of-ipo?utm_source=telegram&amp;utm_content=crypto&amp;utm_medium=social&amp;embedded-checkout=true">reported</a>.
This news comes as the broader cryptocurrency market experiences a resurgence, with USDC&#8217;s circulation rebounding from a low of $24 billion earlier this year to its current value of $33 billion. 
This recovery mirrors the positive trend in the crypto space overall.
Shifting its legal base to the U.S. could expose Circle to higher taxes compared to Ireland&#8217;s historically low corporate tax rates, which have attracted major corporations like Apple and Pfizer. 
However, recent reforms by the Organization for Economic Cooperation and Development (OECD) introducing a minimum 15% tax on the profits of large multinationals are diminishing Ireland&#8217;s tax advantages.
Circle&#8217;s core business revolves around USDC, a stablecoin with a market capitalization of $33 billion. USDC&#8217;s circulation peaked at approximately $56 billion in June 2022 but faced a significant decline last year due to U.S. banking issues, including the collapse of Silicon Valley Bank, where part of USDC&#8217;s reserves were held.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38840285/spot-bitcoin-etfs-see-100m-inflows-on-wednesday-amid-institutional-adoption">Spot Bitcoin ETFs See $100M Inflows On Wednesday Amid Institutional Adoption</a>
Despite these challenges, USDC&#8217;s circulation has rebounded to $24 billion this year, aligned with a general recovery in the cryptocurrency markets.
Stablecoins, which are typically pegged 1-1 to fiat currencies and backed by reserves of cash and bonds, have seen increased profitability due to the post-pandemic rise in interest rates. 
For example, Tether Holdings Ltd., the operator of the largest stablecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>), reported a record first-quarter profit of $4.5 billion.
Circle enjoys substantial backing from prominent Wall Street firms such as Goldman Sachs, General Catalyst Partners, BlackRock, Fidelity Management and Research and Marshall Wace, along with cryptocurrency-focused companies like Coinbase Global Inc.
What&#8217;s Next: The strategic relocation of Circle&#8217;s legal base and its broader implications for the cryptocurrency industry will be a key topic of discussion at Benzinga&#8217;s <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19.
Industry leaders and experts will delve into the evolving regulatory landscape and its impact on <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38811440/president-biden-cracks-down-on-chinese-backed-crypto-mining-facility-near-u-s-missile-base">digital finance and stablecoin issuers like Circle.</a>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38827013/inflation-data-means-if-you-are-bullish-buy-bitcoin-bearish-short-ethereum-10x-research">Inflation Data Means &#8216;If You Are Bullish, Buy Bitcoin, Bearish, Short Ethereum&#8217;: 10x Research</a>
Image: Shutterstock

$USDC

$USDT

Crypto Stablecoin Issuer Circle To Relocate To US Amid Market Rebound

Now may be as good a time as ever for entrepreneurs looking to start businesses despite the high-interest rate environment. The proliferation of work-from-home technology, artificial intelligence and a strong labor market are encouraging signs for hopeful start-ups looking to find their footing in <a href="https://www.benzinga.com/general/entrepreneurship">today&#8217;s business environment</a>.
Startup Boom: <a href="https://www.economist.com/finance-and-economics/2024/05/12/america-is-in-the-midst-of-an-extraordinary-startup-boom">According</a> to a recent report in The Economist, the U.S. is experiencing a &#8220;startup boom.&#8221; The U.S. Census counted a record 5.5 million applications to start new businesses in 2023. Today&#8217;s startup environment is more friendly than it was just a half-decade ago; in 2018, only 29% of companies were less than five years old, down from 38% in 1982. 
The Work-from-Home Revolution: It has never been easier to work from home. Digital communication technologies allow startups to hire employees from larger, international talent pools. Previously, businesses had tighter geographic limitations in their hiring practices. These developments make it easier for entrepreneurs to get teams up and running.
A Solid Job Market: The strength of the labor market is a &#8220;leading theory&#8221; as to the rapid creation of startups <a href="https://www.thedailyupside.com/technology/artificial-intelligence/is-the-us-seeing-a-startup-boom/#:~:text=for%20entrepreneurial%20spirit%3F-,After%20a%20slump%20through%20the%20latter%20half%20of%20the%20last,country's%20white%2Dhot%20labor%20market.">according</a> to The Daily Upside&#8217;s Brian Boyle. Historically low <a href="https://www.benzinga.com/economics/macro-economic-events/24/05/38618865/jobs-growth-slows-unemployment-ticks-up-wage-increase-cools-the-market-should-lov">unemployment</a> rates assure entrepreneurs that other opportunities will be available in the job market to fall back on if their ventures are unsuccessful.
Artificial Intelligence Driven Productivity: Artificial intelligence has positioned itself as a major disruptor in several industries. Technologies such as Chat GPT, created by OpenAI, are <a href="https://openai.com/index/introducing-chatgpt-enterprise/">accessible</a> for startups looking to create efficiencies and boost productivity. Given that artificial intelligence models are rapidly <a href="https://www.benzinga.com/news/24/03/37838131/openai-is-reportedly-gearing-up-to-release-a-significantly-better-gpt-5-by-mid-year">evolving</a>, it is up to businesses to utilize them and realize their full potential.
Now Read: <a href="https://www.benzinga.com/markets/equities/24/05/38820970/expect-rate-cuts-not-a-recession-fund-managers-most-bullish-on-stocks-in-over-2-years">Expect Rate Cuts, Not Recession: Fund Managers Most Bullish On Stocks In Over 2 Years</a>
Photo: Shutterstock

Entrepreneurship

Startups

Small Business

General

Want To Start A Business? Now Might Be The Best Time For Startups In Decades

WIIM

PBR/A

Petrobras shares are trading lower following reports suggesting Brazilian President Luiz Inacio Lula da Silva fired Petrobras CEO Jean Paul Prates following a dispute over dividend payments.

Scotiabank analyst Mario Saric maintains INTERRENT REAL EST INVESTMENT TRUST (TSX:<a class="ticker" href="https://www.benzinga.com/stock/IIP#TSX">IIP</a>) with a Sector Outperform and raises the price target from C$14.25 to C$14.5.

TSX:IIP

Scotiabank Maintains Sector Outperform on INTERRENT REAL EST INVESTMENT TRUST, Raises Price Target to C$14.5

Morgan Stanley analyst Hamza Fodderwala reiterates Palo Alto Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>) with a Overweight and maintains $360 price target.

PANW

Morgan Stanley Reiterates Overweight on Palo Alto Networks, Maintains $360 Price Target

Trading Halt: Halt status updated at 10:35:00 AM ET: Quotation Resumption: IPO Security - Released for Quotation

Indian online travel company&nbsp;MakeMyTrip Limited&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MMYT#NASDAQ">MMYT</a>)&nbsp;reported fiscal fourth-quarter 2024 adjusted revenue of&nbsp;$212.53 million, up from $166.11 million a year ago, beating&nbsp;the analyst consensus estimate of&nbsp;<a target="_blank" href="https://investors.makemytrip.com/" rel="noreferrer noopener">$197.42 million</a>.
Adjusted EPS of $0.38&nbsp;beat the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate of $0.20</a>.&nbsp;
Revenues benefited from sustained elevated travel demand in India for domestic and international outbound travel.
In constant currencies, revenue from the air ticketing business grew by 42.9% Y/Y in CC to $55.08 million, the hotels and packages business rose 30.0% in CC to $105.48 million, bus ticketing business increased by 27.1% Y/Y in CC to $23.8 million, and others business climbed 117.6% in CC to $18.53 million.
Gross bookings surged 23.0%&nbsp;Y/Y&nbsp;to $2.04 billion. Adjusted operating profit improved 70.4%&nbsp;Y/Y&nbsp;to $32.43 million.&nbsp;
MakeMyTrip held $607.8 million in cash and equivalents as of March-end.
CEO Rajesh Magow said,&nbsp;&#8220;Indians are embracing the call to travel with a newfound enthusiasm with both leisure and business-related travel demand in India having crossed pre-pandemic levels."
Makemytrip stock gained 194% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Exchange Traded Concepts Trust India Internet &amp; Ecommerce ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INQQ#NYSE">INQQ</a>) and&nbsp;Amplify ETF Trust Amplify Travel Tech ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AWAY#NYSE">AWAY</a>).
Price Action: MMYT shares are trading higher by 1.6% at $78.27 at the last check Wednesday.
Image Via Shutterstock

Equities

AWAY

Exchange Traded Concepts Trust India Internet & Ecommerce ETF

INQQ

MMYT

MakeMyTrip CEO Highlights Surge in Travel Demand as Q4 Earnings Exceed Expectations

Press Releases

Global Star Acquisition Inc. Announces Merger With K Enter, a Diversified Korean Entertainment Company Valued at $610 Million

Global Star Acquisition Inc. Announces Stockholder Approval of Extension of Deadline to Complete Business Combination

Global Star Acquisition Inc. and K Enter Announce Public Filing of Registration Statement on Form F-4 in Connection with Proposed Business Combination

GLST

GLSTU

GLSTW

Global Star Acq

Global Star Acquisition Announces Receipt Of NASDAQ Continued Listing Standard Notice Because It Had Not Timely Filed Its Third Quarter Financials On Form 10-q For The Period Ended September 30, 2022

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Latest News for Global Star Acq Stock (NASDAQ:GLSTU)

Wednesday, November 23, 2022