Latest news for Grab Holdings (NASDAQ:GRABW) Stock

Founded in 2012, Grab provides ride-sharing services, food and grocery delivery, and financial services (payments, consumer loans, and enterprise offerings) in eight Southeast-Asian countries through its mobile platform. The company partners with merchants and riders, connecting them with consumers while charging commission to both sides. Grab has a leading market share in and derives 89% of its revenue from its core businesses, ride-sharing and food delivery. Singapore and Malaysia contributed 58% of revenue as of end-2021. Grab's main competitors in Southeast Asia are Foodpanda and Gojek, the ride-sharing arm of GoTo. Its financial services business is still in its nascent stage and provides minimal revenue currently. The company now also generates advertising revenue.

Grab Holdings Ltd

HC Wainwright &amp; Co. analyst Mitchell Kapoor maintains Sarepta Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRPT#NASDAQ">SRPT</a>) with a Sell and lowers the price target from $80 to $75.

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Price Target

Analyst Ratings

SRPT

HC Wainwright & Co. Maintains Sell on Sarepta Therapeutics, Lowers Price Target to $75

Second Half 2024 Outlook
The Company is updating its outlook for the second half of fiscal 2024 as follows:
<ul>
<li>Expecting second half comparable store sales to be up low to mid-single digits compared to the second half of fiscal 2023 vs. prior outlook of flat to up low single digits; total sales expected to be flat to down low-single digits due to the 53rd week last year and store closures</li>
<li>Second half gross margin is expected to be approximately 39%, consistent with prior outlook</li>
<li>Second half EBITDA&#x2A; is expected to be in the range of $1.5 million to $4 million, above our prior outlook of $0.5 million to $2.5 million</li>
<li>The Company expects to end fiscal 2024 with approximately 590 stores, consistent with prior outlook</li>
<li>Year-end cash balance is expected to be in the range of $60 million to $65 million, within prior outlook</li>
<li>Capital expenditures for the full year are expected to be in the range of $14 million to $18 million on pull-forward of certain investments to drive performance improvement</li>
</ul>

Guidance

CTRN

Citi Trends Expects Second Half 2024 Comparable Store Sales To Be Up Low To Mid-Single Digits (Prior Flat To Up Low-Single Digits) Compared To Second Half Of Fiscal 2023

Financial Projections
2028 Long-Term Financial Outlook
At the Investor Day, Mirion will provide its 2028 long-term financial outlook, including projected:
<ul>
<li>Revenue of approximately $1.1 billion by 2028, assuming approximately 6% - 8% organic revenue growth</li>
<li>Adjusted EBITDA margin of approximately 30% by 2028</li>
<li>Adjusted Free Cash Flow Conversion of approximately 60% of adjusted EBITDA by 2028; interim target of approximately 50% of adjusted EBITDA by 2026</li>
</ul>
Organic revenue growth guidance excludes the impact of foreign exchange rates as well as any mergers, acquisitions and divestitures. Other modeling and guidance assumptions will be included in the appendix of the Investor Day presentation.

Mirion Targets $1.1B Revenue And 30% Adj. EBITDA Margin By 2028 In Long-Term Financial Outlook

While the Company does not provide quarterly guidance, given the significant changes in the Company's business model along with the dynamic nature of its growth and where it is in its fiscal year, it is offering the following comments about the fourth quarter of fiscal 2024:
<ul>
<li>Q4 comparable store sales are expected to be up low to mid-single digits with total sales down mid-single digits due to the 53rd week last year and store closures</li>
<li>Q4 gross margin is expected to be in the range of 39% to 40%</li>
<li>SG&amp;A is expected to be approximately $76 million including the finalization of strategic expenses plus store payroll to support holiday sales</li>
<li>Q4 EBITDA&#x2A; is expected to be in the range of $5 million to $7 million</li>
</ul>

Citi Trends Expects Q4 Comparable Store Sales Of Up Low To Mid-Single Digits With Total Sales Down Mid-Single Digits

Initial 2025 Financial Guidance
In addition, Mirion will provide initial 2025 financial guidance, including:
<ul>
<li>Organic revenue growth of approximately 5.5% - 7.5%; includes an approximately 30 basis point lasers business divestiture headwind from 2024</li>
<li>Revenue growth of approximately 4.0% - 6.0%; includes a foreign exchange rate headwind of approximately 150 basis points</li>
<li>Adjusted EBITDA and adjusted EBITDA margin of approximately $215 million - $230 million and 24.5% - 25.5%, respectively; includes a foreign exchange rate headwind to adjusted EBITDA of approximately $3.5 million</li>
<li>Adjusted Free Cash Flow of approximately $85 million - $110 million; adjusted Free Cash Flow Conversion of approximately 39% - 48% of Adjusted EBITDA</li>
<li>Assumes a 1.05 Euro-to-USD foreign exchange rate</li>
</ul>

Mirion 2025 Outlook: Expects Organic Revenue Growth Of 5.5%-7.5%, Revenue Growth Of 4%-6%; And Adjusted Free Cash Flow Of $85M- $110M

Canaccord Genuity analyst Susan Anderson maintains Ulta Beauty (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>) with a Buy and raises the price target from $442 to $476.

ULTA

Canaccord Genuity Maintains Buy on Ulta Beauty, Raises Price Target to $476

SPIR

Spire Global Names Theresa Condor As New CEO; Founder Peter Platzer Transitions To Executive Chairman

Earnings

Citi Trends Q3 Adj EPS $(0.78) Misses $(0.75) Estimate

2024 Outlook For the full-year, AT&amp;T expects:
<ul>
<li>Wireless service revenue growth in the 3% range.</li>
<li>Broadband revenue growth of 7%+.</li>
<li>Adjusted EBITDA&#x2A; growth in the 3% range.</li>
<li>Capital investment&#x2A; at the high-end of the $21 to $22 billion range.</li>
<li>Free cash flow&#x2A; in the $17 to $18 billion range, tracking toward the midpoint of this range; excluding approximately $2.5 billion of after-tax cash payments from DIRECTV, free cash flow in the $15 billion range.</li>
<li>Adjusted EPS&#x2A; of $2.20 to $2.25, reflecting an increase from the previously provided $2.15 to $2.25 range. This includes an expected adjusted equity in net income from DIRECTV of approximately $0.30 per share post-tax. When excluding this, the Company expects adjusted EPS in the $1.90 to $1.95 range.</li>
</ul>

AT&T Updates 2024 Guidance: Sees Adjusted EPS Of $2.20-$2.25 (Prior $2.15-$2.25) Vs. $2.10 Est.; Expects Wireless Service Revenue To Grow 3% And Broadband 7%+

Citi Trends Q3 Sales $179.07M Beat $178.48M Estimate

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The FDA Has Granted Breakthrough Therapy Designation To Merck's Sacituzumab Tirumotecan For Advanced Or Metastatic Nonsquamous Non-small Cell Lung Cancer With Epidermal Growth Factor Receptor Mutations Whose Disease Progressed On Or After Tyrosine Kinase Inhibitor And Platinum-based Chemotherapy

Live Nation Entertainment, Inc. (NYSE:&nbsp;LYV) (the "company") today announced that it intends to offer, subject to market and other conditions, $1.0 billion in aggregate principal amount of convertible senior notes due 2030 (the "Convertible Notes").&nbsp; The company intends to use the net proceeds from the Convertible Notes offering (i) to finance the repurchase of a portion of its 2.00% convertible senior notes due 2025 (the "existing convertible notes") in one or more separate and individually negotiated transactions with a limited number of current holders of the existing convertible notes, (ii) to repay outstanding amounts under the company's existing revolving credit facility, (iii) to pay related fees and expenses and (iv) for general corporate purposes, which may include the repayment or repurchase of certain of its outstanding indebtedness.
 &nbsp;

Offerings

Live Nation Entertainment Launched $1B Convertible Senior Notes Offering Due 2030 For Debt Repayment

Contracts

SHIM

CORRECTION: Shimmick Construction Announced Monday It Has Been Awarded A $45.4M Contract To Complete Extensive Seismic Retrofitting And Improvements To The Murray Street Bridge At The Santa Cruz Small Craft Harbor

Needham analyst Quinn Bolton maintains Credo Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRDO#NASDAQ">CRDO</a>) with a Buy and raises the price target from $43 to $70.

CRDO

Needham Maintains Buy on Credo Technology Group, Raises Price Target to $70

CLICK will collaborate with Care U Professional Nursing Service Limited, being the first non-NGOs private company to become a licensed recognized service provider under the CCSV scheme, to provide integrated Home-based service for elderly under scheme in Hong Kong&nbsp;
- The CCSV scheme is a government-sponsored program that provides community care services through a "money-following-the-user" and "affordable users pay" subsidy model.

CLIK

CLICK Expands Elderly Care Services Through Hong Kong's CCSV Scheme In Partnership With Care U

Needham analyst Quinn Bolton reiterates Microchip Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>) with a Buy and maintains $85 price target.

Reiteration

MCHP

Needham Reiterates Buy on Microchip Technology, Maintains $85 Price Target

Norway has stopped its deep-sea mining plans due to political pressure. Environmentalists focus on Japan's aspirations as the International Seabed Authority (ISA) develops sea mining regulations.
What happened? Norwegian government conceded to demands from the Socialist Left Party in exchange for their support for the annual budget. This pause halted what would have been the country's first deep-sea mining licensing round, initially planned for 2025.
The political compromise reflects growing global opposition to deep-sea mining. Ecological risks and insufficient research into long-term consequences support the cautious approach despite the allure of critical mineral exploitation.
Activists, scientists, and fishing communities hailed the halt as a landmark victory for ocean protection. "After extensive work by environmentalists and scientists, we've secured a historic win for the oceans," <a target="_blank" href="https://www.greenpeace.org/sweden/pressmeddelanden/hav/deep-sea-mining-plans-stopped-in-norway/" rel="noreferrer noopener">stated</a> Haldis Tjeldflaat Helle from Greenpeace Nordic.
Following the announcement, Norwegian deep-sea mining startup Green Minerals lost over 30% of its market cap. Despite the setback, the company maintains optimism, projecting that licensing might resume in 2026. Meanwhile, the government continues preparatory work, including environmental impact assessments and regulatory groundwork, keeping the possibility of future mining operations open as the situation could change after the next parliamentary elections scheduled for September 2025.
Why it matters? Norway's decision aligns with international scrutiny of deep-sea mining led by the ISA. Under the leadership of Brazilian environmentalist Leticia Carvalho, appointed in July, the ISA is formulating <a target="_blank" href="https://www.benzinga.com/government/24/08/40163564/deep-sea-mining-hits-breaks-as-carvalho-takes-isa-leadership" rel="noreferrer noopener">global regulations for seabed mining</a>. Advocates argue these regulations are essential to balance the demand for critical minerals and environmental protection.
Meanwhile, Japan's <a target="_blank" href="https://www.benzinga.com/markets/asia/24/06/39508095/japan-discovers-200-million-tons-of-rare-earth-metals-near-remote-island-expects-mining-to-begin-202" rel="noreferrer noopener">discovery of manganese nodules</a>, valued at over $26 billion, shows the stakes involved – particularly for an island nation heavily relying on mineral resources imports. These nodules are rich in minerals critical for EV batteries but rest 5,700 meters below sea level.
However, research led by Travis Washburn revealed <a target="_blank" href="https://e360.yale.edu/digest/deep-sea-mining-fish-shrimp-study" rel="noreferrer noopener">alarming environmental consequences</a>: a 43% drop in fish and shrimp populations following small-scale mining tests. "The impact of deep-sea mining could be bigger than anticipated," Washburn cautioned.
If deep-sea mining proceeds, it must be under strict regulations that preserve ocean biodiversity—particularly after discovering that these minerals might play a role in oxygen production.
Read Next:
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<li><a href="https://www.benzinga.com/24/12/42278413/beyond-the-cbd-bubble-can-hemp-fiber-boost-us-manufacturing-with-eco-friendly-products" target="_blank" rel="noreferrer noopener">Beyond The CBD Bubble: Can Hemp Fiber Boost US Manufacturing With Eco-Friendly Products?</a></li>
</ul>
Photo by Sergey Novikov via Shutterstock

Government

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ENOR

NORW

Politics Halt Norwegian Deep-Sea Mining, Environmentalists Look Toward Japan

Wells Fargo analyst Nathan Treybeck reinstates Integer Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITGR#NYSE">ITGR</a>) with a Overweight and announces $160 price target.

Initiation

ITGR

Wells Fargo Reinstates Overweight on Integer Holdings, Announces $160 Price Target

Roth MKM analyst Craig Irwin on Monday raised Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) price target by 347% from $85 to $380 and upgraded the rating to a &#8220;buy&#8221; from &#8220;neutral.&#8221;
What Happened: A long-time Tesla bear, Irwin turned bullish on Tesla on Monday. 
Talking about his change in opinion in an appearance on CNBC, Irwin noted the benefits that Tesla might reap out of its CEO&#8217;s new association and support for President-elect Donald Trump.
&#8220;This quarter is probably the last quarter of relative weakness; Now he (Elon) has got a new pool of buyers. Conservatives that might not have looked at EVs quite as closely in the past that allow an acceleration of demand in the core U.S. market,&#8221; said Irwin.
&#8220;I don&#8217;t see very many negative catalysts&#8230; There are abundant positive catalysts&#8230; Bias is now to the upside, not the downside. The market cap may be huge&#8230; but they are doing big things.&#8221;
Other EV brands that relied on EV subsidies will face a &#8220;sunset&#8221; under Trump given reports that he is planning to<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42005034/elon-musk-backs-calls-for-end-to-ev-subsidies-but-former-tesla-exec-warns-of-massive-drop-in-manufacturing-investments-if-trump-follows-through"> reduce or remove EV-related subsidies</a>, he noted, in a positive push for Tesla.
Irwin is also optimistic about the contribution of the Cybercab to the Tesla stock&#8217;s value for investors. &#8220;We&#8217;re going to see incremental progress and people are going to be able to have a tangible experience, and that&#8217;s what I think drives value in the stock and drives enthusiasm to own the stock.&#8221;
Why It Matters: Tesla shares rallied following Trump&#8217;s win in the Presidential elections. 
Musk actively campaigned for Trump in the swing state of Pennsylvania and the President-elect named the billionaire to lead the Department of Government Efficiency aimed at bringing down government bureaucracy, slashing excess regulations, cutting waste expenditures, and restructuring federal agencies.
The newly-forged relationship has caused investors to be positive about the way forward for Tesla with hopes of easing restrictions on the development of technology aimed at vehicle autonomy and removal of EV-related subsidies that may harm rival smaller players in favor of Tesla.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="This is Tesla&#039;s last quarter of relative weakness, says Roth Capital&#039;s Craig Irwin" width="500" height="281" src="https://www.youtube.com/embed/CulW18iYS4k?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Price Action: Tesla shares closed up 3.5% at $357.09 on Monday. The stock is up 44% year-to-date, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
The Tesla stock has a consensus rating of &#8220;Buy.&#8221; The average price target of $339 based three most recent ratings from Roth MKM, Stifel, and UBS implies a 5% downside.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/24/12/42259569/chinese-ev-behemoth-and-tesla-rival-byd-marks-68-growth-in-november-sales-on-rising-popularity-of-plug-in-hybrid-evs" target="_blank" rel="noreferrer noopener">Tesla Rival BYD Marks 68% Growth In November Sales Driven By Popularity Of Plug-In Hybrid EVs</a></li>
</ul>
Photo courtesy: Shutterstock

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Tesla Bear Craig Irwin Turns Bullish On EV Giant, Increases Price Target By 347%: 'There Are Abundant Positive Catalysts'

Deutsche Bank analyst Lee Horowitz initiates coverage on Maplebear (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CART#NASDAQ">CART</a>) with a Hold rating and announces Price Target of $37.

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