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AMN Healthcare Services, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amn#NYSE">AMN</a>) launched an innovative technology suite, WorkWise, last Wednesday. The suite is expected to unify the company&#39;s technologies into one single technology offering.
Per AMN Healthcare, WorkWise has been designed to streamline workforce processes by combining the capabilities of quantifying staffing demand with predictive scheduling, automated workforce management and enhanced clinician engagement using AI technology. The technology suite will likely empower healthcare systems to efficiently source the appropriate talent, while effectively managing costs.
The latest launch is expected to significantly boost AMN Healthcare&#39;s Technology and Workforce Solutions business and solidify its foothold in the healthcare space.
<h2>Likely Trend of AMN Stock Following the News</h2>
Following the announcement on Oct. 2, shares of the company moved nearly 2.8% south to $38.64 at yesterday&#39;s close.
Historically, the company has gained a high level of synergies from its product launches. Although the latest launch is likely to be beneficial for AMN&#39;s top-line growth going forward, the stock declined overall since the announcement despite a slight gain yesterday.
AMN Healthcare currently has a market capitalization of $1.47 billion. It has an earnings yield of 8.3%, higher than the industry&#39;s 3.6%. In the last reported quarter, AMN delivered an earnings surprise of 30.7%.
<h2>Significance of the Launch of AMN Healthcare&#39;s WorkWise</h2>
Per AMN Healthcare, WorkWise is completely integrated with healthcare organizations&#39; internal systems. This is expected to enable hospitals to optimize personnel for any type of job (permanent, per diem, contract), sourcing from internal and external talent, to reduce costs and predict staffing needs with greater precision. The solution will likely leverage automation and data analysis to provide insights and build engaged talent networks for effective workforce management and increased speed-to-fill for staffing needs.
AMN Healthcare&#39;s management believes that WorkWise will be an integrated solution with multiple capabilities that can work together to address complex workforce challenges in the healthcare industry. It is expected to provide a full end-to-end solution for hospitals and healthcare systems, which is built to adapt and evolve with their needs.
<h2>Industry Prospects in Favor of AMN</h2>
Per a report by Grand View Research, the global healthcare workforce management system market was valued at $1.9 billion in 2023 and is anticipated to witness a CAGR of 13.2% between 2024 and 2030. Factors like the shift toward value-based reimbursements and the increasing adoption of telehealth technologies and AI-driven analytics are likely to drive the market.
Given the market potential, the latest launch will likely provide a significant impetus to AMN Healthcare&#39;s business.
<h2>AMN Healthcare&#39;s Notable Launches</h2>
In August, AMN Healthcare launched Strategic Partnership Solutions. It aims to transform language access programs in healthcare organizations by providing comprehensive language services and strategic support to organizations.
In July, AMN Healthcare introduced a new teletherapy platform, Televate. Per the company, it has been designed to increase access to therapy services for students nationwide.
<h2>AMN&#39;s Share Price Performance</h2>
Shares of the company have lost 50.7% in the past year against the industry&#39;s 7.5% rise and the S&amp;P 500&#39;s 30.9% growth.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/04/80821.jpg?v=2132398298" />
Image Source: Zacks Investment Research
<h2>AMN Healthcare&#39;s Zacks Rank &amp; Key Picks</h2>
Currently, AMN carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are DaVita Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dva#NYSE">DVA</a>), Baxter International Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bax#NYSE">BAX</a>) and Boston Scientific Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bsx#NYSE">BSX</a>).
DaVita, sporting a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 17.5%. DVA&#39;s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 24.2%.
DaVita&#39;s shares have gained 74.8% compared with the industry&#39;s 31.7% rise in the past year.
Baxter, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 10%. BAX&#39;s earnings surpassed estimates in each of the trailing four quarters, with the average being 3.7%.
Baxter has gained 0.7% compared with the industry&#39;s 22.9% rise in the past year.
Boston Scientific, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 12.6%. BSX&#39;s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 7.2%.
Boston Scientific&#39;s shares have rallied 62.4% compared with the industry&#39;s 22.9% rise in the past year.
<a href="https://www.zacks.com/stock/news/2347765/amn-stock-down-despite-workwise-launch-to-enhance-healthcare-delivery?cid=CS-BENZ-FT-analyst_blog|company_news_medical_sector-2347765">To read this article on Zacks.com click here.</a>

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AMN Stock Down Despite WorkWise Launch to Enhance Healthcare Delivery

Barrington Research analyst Vincent Colicchio maintains Information Servs Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/III#NASDAQ">III</a>) with a Outperform and maintains $3.5 price target.

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Barrington Research Maintains Outperform on Information Servs Gr, Maintains $3.5 Price Target

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X's Alexa Alianiello Says There Are More Than 40M Posts About Cannabis On The Platform Every Year

Astera Labs Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAB#NASDAQ">ALAB</a>) shares are trading higher in Tuesday&#8217;s after-hours session after the company announced new <a href="https://www.benzinga.com/pressreleases/24/10/b41238848/astera-labs-introduces-new-portfolio-of-fabric-switches-purpose-built-for-ai-infrastructure-at-clo">fabric switches for AI infrastructure</a>.
What Happened: After the market close on Tuesday, Astera Labs introduced a portfolio of switches designed for AI workloads in accelerated computing platforms deployed at cloud-scale.&nbsp;
The semiconductor-based connectivity solutions company said its Scorpio Smart Fabric Switch portfolio was optimized for AI dataflows to deliver maximum predictable performance per watt, high reliability, easy cloud-scale deployment, reduced time-to-market and lower ownership costs.
The new portfolio of fabric switches features the Scorpio P-Series for GPU connectivity and the Scorpio X-Series for back-end GPU clustering. The switches will expand Astera&#8217;s Intelligent Connectivity Platform, allowing it to serve as&nbsp;a smart, customizable connectivity backbone. 
&#8220;Hyperscalers are deploying highly specialized AI platforms at an unprecedented pace, scale, and complexity,&#8221; said Jitendra Mohan, CEO of Astera Labs.
&#8220;Scorpio offers energy efficient fabric solutions with predictable, secure, and high-performance data flows and extensive fleet management capabilities for accelerated AI infrastructure deployments at cloud-scale.&#8221;
See Also: <a href="https://www.benzinga.com/news/earnings/24/10/41236355/stocks-rally-as-oil-prices-tumble-tech-chipmakers-lead-as-traders-focus-on-ai-winners-before-earnin">Stocks Rally As Oil Prices Tumble; Tech, Chipmakers Lead As Traders Focus On AI Winners Before Earnings Season: What&#8217;s Driving Markets Tuesday?</a>
Astera Labs is a supplier of connectivity solutions for several tech giants. The company noted a comment from Brian Kelleher, senior vice president of GPU Engineering at NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), in the release.
&#8220;AI infrastructure requires the right balance of interconnect performance, efficiency and capabilities to enable accelerated computing for AI workloads at scale. The new Scorpio fabric switch portfolio can support NVIDIA accelerated AI infrastructure deployments across a wide variety of AI and HPC workloads,&#8221; Kelleher said.
ALAB Price Action: <a href="http://benzinga.com/quote/alab">Astera Labs shares</a> were up 3.49% in after-hours, trading at $54.81 at the time of publication Tuesday, per <a href="http://pro.benzinga.com">Benzinga Pro</a>.
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Data in 49 abstracts from company- and collaborator-led studies, will highlight the advances Pfizer is making in helping prevent and treat infectious diseases.

Pfizer Plans To Present Data Across Its Infectious Disease Portfolio At The Upcoming IDWeek 2024 Congress, Held In Los Angeles From October 16-19

The 2029 Notes will bear interest at an annual rate of&nbsp;6.875%&nbsp;and will be issued at par.&nbsp;The 2033 Notes will bear interest at an annual rate of&nbsp;7.375%&nbsp;and will be issued at par.
The Notes offering is expected to close on October 22, 2024, subject to the satisfaction of customary closing conditions.
Cliffs intends to use the net proceeds from the Notes offering to finance a portion of the cash consideration payable in connection with the previously announced acquisition of Stelco Holdings Inc., which Cliffs expects to complete in the&nbsp;fourth quarter&nbsp;of 2024 following the satisfaction or waiver of applicable conditions.&nbsp;

Cleveland-Cliffs Upsizes And Prices $900M Of Senior Guaranteed Notes Due 2029 And $900M Of Senior Guaranteed Notes Due 2033

Brazilian fintech Nu Holdings Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nu#NYSE">NU</a>) has only been trading publicly for under three years, but it has already managed to accumulate over 100 million customers in Latin America. The company, which offers digital banking solutions without brick-and-mortar locations through its NuBank platform, has also drawn the interest of Warren Buffett, instantly catapulting it into must-watch lists of investors everywhere as a newly popular&nbsp;bank stock. Buffett&#39;s Berkshire Hathaway Inc.&nbsp;held over 107 million shares of NU stock as of the end of the second quarter.
Nu shares fell by about 8% in the last week but remain up a whopping 86% over the past year. Based on analyst ratings, the company is currently categorized as a Moderate Buy and has a consensus price target of $14.08, representing 7.2% upside potential. Given that this increase would only roughly get the stock to where it was in mid-September, and particularly in light of how far it has risen in the last several months, investors may be wondering whether the time to get in on Nu Holdings has passed.
<h2>Earnings Performance Excels</h2>
Nu has a strong history of earnings performance in the last six quarters, including net income of $487 million for the most recent quarter. This represented EPS of 12 cents per share, topping analyst predictions of 10 cents. Revenue has also surged in recent quarters; in the second quarter of the year, Nu posted revenue of $2.8 billion, a full two-thirds higher than it was at the same time in 2023.
The company&#39;s return on equity has also been impressive, as it is currently annualized to 27%. It maintains a debt-to-equity ratio of 0.25, uncommonly low for a financial institution and perhaps indicating that has over-relied on equity to finance growth.
It appears that Nu is showing no signs of slowing its earnings growth. Analysts project that the company will see earnings climb by more than 51% this year.
<h2>Nu Holdings&#39; Customer Base Is Skyrocketing</h2>
What is behind Nu&#39;s rapid top- and bottom-line improvement? A key factor is the rapid increase to size of the company&#39;s customer base as it has expanded within and outside of Brazil. Two years ago the firm had about 65 million customers, and today it has well over 100 million. About one out of every five adults in Brazil&mdash;some 34 million people&mdash;have not typically had access to traditional banking. Nu&#39;s easy-to-access digital platform has rapidly opened up access to many of these individuals.
Nu is a leader in the fast-growing digital banking space in Latin America. In the last year, its customer growth has outpaced the five largest Brazilian incumbent banks combined. The company&#39;s international expansion is also accelerating. At the midpoint of the year, it had nearly 8 million customers in Mexico and 1.3 million Colombian customers.
<h2>Engaged Customers With Room to Expand</h2>
On top of a rapidly growing base of customers, Nu has managed to engage those customers in multiple ways. By midway through the year, customers had, on average, 4.1 products active simultaneously. This helped to drive an increase in monthly average revenue per active customer to $11.20.
Besides increasing the number of customers it serves, Nu has room to expand in loans and credit cards, two of its least-utilized products. Fewer than one in 10 Brazilian adults uses the company&#39;s loan products, and only about one in six has a Nu-branded credit card. This contrasts with the company&#39;s traditional bank account services, which include about a third of all Brazilians among account holders.
<h2>Nu Stock: Overvalued or Space to Grow?</h2>
Given its rapid growth in the last year, it&#39;s certainly possible that Nu Holdings&#39; most significant rally has already come and gone. The recent dip in stock price could be an indication of a larger trend to come, and the firm&#39;s forward P/E ratio of 32.0 is high.
However, the company&#39;s fundamentals&mdash;its earnings growth and expanding customer base in particular&mdash;show no signs of slowing as it picks up its international expansion. It&#39;s up to investors, then, to determine whether they feel continued growth in these areas might be reflected in a continued increase in share prices going forward.
The article &quot;<a href="https://www.marketbeat.com/originals/is-nu-holdings-overvalued-or-primed-for-more-growth/">Is Nu Holdings Overvalued or Primed for More Growth?</a>&quot; first appeared on MarketBeat.

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Is Nu Holdings Overvalued or Primed for More Growth?

In the current market session, Mission Produce Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVO#NASDAQ">AVO</a>) share price is at $12.40, after a 0.81% spike. Moreover, over the past month, the stock fell by 4.54%, but in the past year, increased by 30.39%. Shareholders might be interested in knowing whether the stock is overvalued, even if the company is performing up to par in the current session. 

<img src="https://www.benzinga.com/files/images/story/2024/1728420308_0.png" alt="Past Year Chart" />

<h3>Mission Produce P/E Ratio Analysis in Relation to Industry Peers</h3>
The P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E could indicate that shareholders do not expect the stock to perform better in the future or it could mean that the company is undervalued. 
Mission Produce has a lower P/E than the aggregate P/E of 48.25 of the Food Products industry. Ideally, one might believe that the stock might perform worse than its peers, but it's also probable that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1728420308_1.png" alt="Guage" />

In conclusion, the price-to-earnings ratio is a useful metric for analyzing a company's market performance, but it has its limitations. While a lower P/E can indicate that a company is undervalued, it can also suggest that shareholders do not expect future growth. Additionally, the P/E ratio should not be used in isolation, as other factors such as industry trends and business cycles can also impact a company's stock price. Therefore, investors should use the P/E ratio in conjunction with other financial metrics and qualitative analysis to make informed investment decisions.

Intraday Update

P/E Ratio Insights for Mission Produce

Canaccord Genuity analyst Jeremy Hoy maintains OceanaGold (TSX:<a class="ticker" href="https://www.benzinga.com/stock/OGC#TSX">OGC</a>) with a Buy and maintains C$5.5 price target.

TSX:OGC

Canaccord Genuity Maintains Buy on OceanaGold, Maintains C$5.5 Price Target

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Alexa Alianiello Says X Is A Safe Space For Cannabis

As the third-quarter earnings season for the S&amp;P 500 begins, investors are bracing for a wave of corporate results that will offer a window into how well companies are behaving in a complex <a href="https://www.benzinga.com/topic/macro-economic-events">economic and geopolitical environment. </a>
Bank of America analysts Ohsung Kwon, and Savita Subramanian suggest that, while expectations for earnings growth are relatively subdued, there could still be significant opportunities for stock pickers.
<h3 class="wp-block-heading">Stock Picker&#8217;s Paradise: Volatility Ahead</h3>
One of the most notable takeaways from the latest Bank of America earnings preview is the potential for significant volatility at the single-stock level.
The options market has been pricing in the largest average post-earnings implied moves for individual stocks since 2021, suggesting that certain companies could see outsized price swings following their earnings releases.
On the other hand, &#8220;implied volatility on the S&amp;P 500 at the index level remains relatively low, which&nbsp;suggests the real action is going to be at the single stock level rather than at the index level this earnings season. It could be a stock picker&#8217;s paradise,&#8221; analysts wrote. 
<h3 class="wp-block-heading">Earnings Growth Expected To Slow</h3>
The consensus among analysts is that S&amp;P 500 earnings will grow by 4% year-over-year in the third quarter, marking a sharp deceleration from the 11% annual growth reported in the second quarter. This slowdown would represent the largest since the first quarter of 2022. 
Bank of America analysts highlight that the &#8220;bar isn&#8217;t high&#8221; for companies this quarter. 
With lower expectations baked into earnings forecasts, companies that have successfully navigated challenges like higher interest rates, energy costs, and global supply chain disruptions could see their stocks rewarded, particularly in rate-sensitive sectors.
<h3 class="wp-block-heading">Sector-by-Sector Breakdown: Where To Look For Strength Or Weakness</h3>
While the overall earnings growth for the S&amp;P 500 is expected to be modest, sector performance will vary significantly: 
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Sector</th>
<th>Earnings (YoY%)</th>
<th>Earnings (QoQ%)</th>
<th>Sales (YoY%)</th>
<th>Sales (QoQ%)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Consumer Discretionary</td>
<td>-1.7%</td>
<td>1.3%</td>
<td>4.9%</td>
<td>1.4%</td>
</tr>
<tr>
<td>Consumer Staples</td>
<td>0.7%</td>
<td>0.9%</td>
<td>1.7%</td>
<td>4.2%</td>
</tr>
<tr>
<td>Energy</td>
<td>-20.7%</td>
<td>-2.4%</td>
<td>-2.4%</td>
<td>0.0%</td>
</tr>
<tr>
<td>Financials</td>
<td>-0.3%</td>
<td>-9.2%</td>
<td>3.1%</td>
<td>-22%</td>
</tr>
<tr>
<td>Health Care</td>
<td>10.0%</td>
<td>0.8%</td>
<td>7.1%</td>
<td>0.7%</td>
</tr>
<tr>
<td>Industrials</td>
<td>1.9%</td>
<td>-5.7%</td>
<td>2.5%</td>
<td>0.0%</td>
</tr>
<tr>
<td>Technology</td>
<td>15.1%</td>
<td>6.4%</td>
<td>11.8%</td>
<td>4.2%</td>
</tr>
<tr>
<td>Materials</td>
<td>-4.8%</td>
<td>-16.1%</td>
<td>4.9%</td>
<td>3.6%</td>
</tr>
<tr>
<td>Real Estate</td>
<td>6.1%</td>
<td>-0.8%</td>
<td>4.7%</td>
<td>-0.4%</td>
</tr>
<tr>
<td>Communication Services</td>
<td>11.3%</td>
<td>61.8%</td>
<td>6.9%</td>
<td>3.0%</td>
</tr>
<tr>
<td>Utilities</td>
<td>3.5%</td>
<td>32.5%</td>
<td>6.9%</td>
<td>18.9%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>4.0%</td>
<td>5.5%</td>
<td>4.7%</td>
<td>1.8%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Source: Bank of America</figcaption></figure>
<h3 class="wp-block-heading">Early Results Show Mixed Performance, Focus Shifts From Mag7 To S&amp;P 493</h3>
So far, 21 companies, primarily those with August quarter-ends, have reported their third-quarter results: 76% have beaten earnings expectations, 67% exceeded sales estimates, and 62% surpassed both, slightly better than historical averages.
However, the median earnings beat has been just 3.5%, compared to the historical average of 5.4%, suggesting that while companies are surpassing expectations, the magnitude of those beats has been smaller.
Bank of America forecasts that the S&amp;P 500&#8217;s mega-cap tech companies (often referred to as the Magnificent Seven) are seeing earnings growth decelerate for the second consecutive quarter.
Earnings for these companies are projected to grow by 37% in the third quarter, down from an even stronger pace seen earlier this year. 
Among this elite group of stocks, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) will be the first to report on Oct. 16, followed by Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) and Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) on Oct. 22, Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) on Oct. 23, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) on Oct. 24. The AI-darling Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) will unveil quarterly result on Nov. 19. 
Meanwhile, the other 493 companies in the S&amp;P 500 have recently emerged from an earnings recession, posting 8% year-on-year growth in the second quarter. Both groups are expected to see further deceleration in the third quarter. 
Looking ahead, Bank of America forecasts that earnings growth will pick up in the fourth quarter, especially for the 493 non-mega-cap companies. Analysts expect double-digit earnings growth for these companies, driven by rate-sensitive sectors like manufacturing and housing, which have been hurt by the Federal Reserve's aggressive rate hikes in recent years. 
<h3 class="wp-block-heading">Political Uncertainty: The Election Effect</h3>
Political uncertainty is also expected to play a critical role in the upcoming earnings season. According to Bank of America, 110 companies had already mentioned the word &#8220;election&#8221; in their second-quarter earnings calls, marking a 62% increase from four years ago. 
The upcoming November U.S. presidential election may contribute to a &#8220;wait-and-see&#8221; approach to capital investments.
However, history suggests investment activity tends to accelerate post-election, particularly if the Federal Reserve has entered a rate-cutting cycle.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41234471/september-inflation-preview-traders-brace-for-market-jitters-as-crucial-report-loom">September Inflation Preview: Consumer Price Data Holds The Key To Fed&#8217;s Next Interest Rate Move</a></li>
</ul>
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S&P 500 Earnings Season Kicks Off: Why Analysts Call This Quarter 'A Stock Picker's Paradise'

<a href="https://www.barrons.com/news/brazil-supreme-court-lifts-ban-on-musk-s-x-9cdc78a3">https://www.barrons.com/news/brazil-supreme-court-lifts-ban-on-musk-s-x-9cdc78a3</a>
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Brazil's Supreme Court announced Tuesday that it was lifting a ban on X, after the social media site had been blocked in its biggest Latin American market for over a month amid a row over disinformation.
"I authorize the immediate return of the activities" of the social platform, Judge Alexandre de Moraes said in his ruling, after X settled millions of dollars in fines for breaching court orders relating to the fight against misinformation.

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'Brazil Supreme Court Lifts Ban On Musk's X' - Barron's

Canaccord Genuity analyst Peter Bell maintains Liberty Gold (TSX:<a class="ticker" href="https://www.benzinga.com/stock/LGD#TSX">LGD</a>) with a Speculative Buy and maintains C$3.25 price target.

TSX:LGD

Canaccord Genuity Maintains Speculative Buy on Liberty Gold, Maintains C$3.25 Price Target

The Bank of New York Mellon Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bk#NYSE">BK</a>) is scheduled to report third-quarter 2024 results on Oct. 11, before market open. The company&#39;s revenues and earnings are expected to have increased on a year-over-year basis.
In the last reported quarter, BK&#39;s earnings surpassed the Zacks Consensus Estimate. Results were primarily aided by a rise in fee revenues and lower expenses. The assets under custody and/or administration (AUC/A) and assets under management balances grew on a solid market rally. However, a decline in net interest revenues (NIR) acted as a headwind.
BNY Mellon has an impressive earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, with an average beat of 9.92%.
<div class="chart_embed">
<h3>The Bank of New York Mellon Corporation Price and EPS Surprise</h3>
<img alt="The Bank of New York Mellon Corporation Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/17/1728394604.png" style="height:258px; width:527px" title="" />
The Bank of New York Mellon Corporation price-eps-surprise | The Bank of New York Mellon Corporation Quote
The consensus estimate for the company&#39;s third-quarter earnings is pegged at $1.40 per share, which has been revised marginally upward over the past seven days. This indicates a rise of 10.2% from the year-ago quarter&#39;s reported number.
The consensus estimate for sales is pegged at $4.52 billion, implying 3.3% growth.
</div>
<h2>Key Factors to Impact BK&#39;s Q3 Results</h2>
Fee Revenues: The Zacks Consensus Estimate for total investment services fees (comprising more than 50% of the company&#39;s total revenues) is pegged at $2.34 billion, suggesting a rise of 5% from the year-ago quarter. Our estimate for the same is $2.39 billion.
The consensus mark for financing-related fees stands at $52.5 million, which suggests a 16.6% year-over-year rise. Our estimate for financing-related fees is $55.9 million.
The consensus estimate for distribution and servicing fees is pegged at $41.7 million, implying a 6.8% increase. Our estimate for the same is pegged at $42.7 million.
In the third quarter, foreign exchange (FX) trading activity was driven by heightened market volatility and increased hedging demand amid global economic uncertainties. Nonetheless, the implementation of the rate cut weakened the dollar to some extent. Thus, increased FX trading volumes are likely to have had a modest impact on BNY Mellon&#39;s FX revenues. The consensus estimate for foreign exchange revenues is pegged at $179.6 million, suggesting a rise of 16.6%. Our estimate for the same is $165.5 million.
The consensus estimate for total fees and other revenues is $3.55 billion, suggesting a rise of 5.6%. We project the metric to be $3.59 billion.
Net Interest Revenues: On Sept. 18, the Federal Reserve implemented a 50-basis point rate cut for the first time since March 2020. Nonetheless, the impact on BK&#39;s NIR during the third quarter is unlikely to have been significant.
Further, the inverted yield curve for most of the quarter and high funding costs are expected to have weighed on interest income.
Yet, indications of future rate cuts by the Fed and a stabilizing macroeconomic backdrop are likely to have supported the overall lending scenario. Per the latest Fed data, overall loan demand remained decent for the first two months of the quarter.
The consensus mark for NIR is pegged at $967.8 million, indicating a 4.8% year-over-year decline. Our estimate for NIR is $898.3 million.
Expenses: Because of higher restructuring charges, BNY Mellon&#39;s expenses have been elevated over the past few years. Nevertheless, overall costs are expected to have been manageable in the quarter under review, given the elimination of unnecessary management layers.
Our estimate for non-interest expenses is $3.12 billion, suggesting a marginal year-over-year fall.
<h2>What the Zacks Model Unveils for BNY Mellon</h2>
According to our quantitative model, the chances of BNY Mellon beating the Zacks Consensus Estimate this time are high. This is because it has the right combination of the two key ingredients &mdash; a positive Earnings ESP and Zacks Rank #3 (Hold) or better.
Earnings ESP: The Earnings ESP for BNY Mellon is +0.14%.
Zacks Rank: The company currently carries a Zacks Rank #2 (Buy).
<h2>Other Bank Stocks That Warrant a Look</h2>
A couple of other bank stocks that have the right combination of elements to post an earnings beat in their upcoming releases are First Community Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fcco#NASDAQ">FCCO</a>) and 1st Source Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/srce#NASDAQ">SRCE</a>).
FCCO has an Earnings ESP of +1.12% and it carries a Zacks Rank of 2 at present. The company is slated to report third-quarter 2024 results on Oct. 16.
SRCE is scheduled to release third-quarter 2024 earnings on Oct. 24. The company, which sports a Zacks Rank of 1 (Strong Buy) at present, has an Earnings ESP of +4.80%.
<a href="https://www.zacks.com/stock/news/2347766/higher-fee-income-to-aid-bny-mellon-s-q3-earnings-subdued-nir-to-hurt?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2347766">To read this article on Zacks.com click here.</a>

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Higher Fee Income to Aid BNY Mellon's Q3 Earnings, Subdued NIR to Hurt

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Canaccord Genuity analyst Dalton Baretto maintains Ivanhoe Mines (TSX:<a class="ticker" href="https://www.benzinga.com/stock/IVN#TSX">IVN</a>) with a Buy and maintains C$25 price target.

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Canaccord Genuity Maintains Buy on Ivanhoe Mines, Maintains C$25 Price Target

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Canaccord Genuity analyst Jeremy Hoy maintains Dundee Precious Metals (TSX:<a class="ticker" href="https://www.benzinga.com/stock/DPM#TSX">DPM</a>) with a Buy and maintains C$16 price target.

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Canaccord Genuity Maintains Buy on Dundee Precious Metals, Maintains C$16 Price Target

The stock market&#39;s insatiable appetite for high-growth stories often leaves a trail of undervalued opportunities in its wake. Blue-chip stocks are the corporate world&#39;s stalwarts and frequently get overshadowed by the allure of the latest market darlings. This creates a unique opportunity for investors seeking stability and consistent returns, offering the potential for capital appreciation and attractive dividend yields.
<h2>Cisco Systems: Networked for Value and Dividends</h2>
Cisco Systems (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/csco#NASDAQ">CSCO</a>) is a tech sector giant with a legacy, and the company is proving that it can still be a powerhouse in today&#39;s changing market. The company designs, manufactures, and sells a comprehensive portfolio of Internet Protocol-based networking products and services. Cisco&#39;s product portfolio spans switching, routing, wireless, security, collaboration, computing, and more, serving businesses of all sizes, public institutions, governments, and service providers. Cisco distributes its products through direct sales, system integrators, and a global network of distributors.
Cisco&#39;s robust business model and solid financial performance make it a compelling investment for those seeking capital appreciation and a consistent income stream. The company recently delivered solid second-quarter results for fiscal year 2024, and its current dividend yield of 3.05% underscores Cisco&#39;s commitment to shareholder value.
A closer look at Cisco&#39;s valuation reveals potential undervaluation. Its current P/E ratio of 17.65 sits below the industry average of 38.5, suggesting that the market may undervalue Cisco&#39;s future earnings potential. A lower P/E ratio indicates that investors pay less for each dollar of Cisco&#39;s earnings when compared to its peers. Additionally, Cisco&#39;s P/B ratio of 4.6, which measures its market capitalization relative to its book value, suggests a potential discount.
Cisco&#39;s solid fundamentals, combined with its attractive dividend yield and potential for undervaluation, make it a strong contender for value and dividend investors. Moreover, Cisco&#39;s MarketRank score, which measures the overall quality of a company, places Cisco in the 98th percentile, indicating that the company is ranked higher than 98% of companies evaluated by MarketBeat. This suggests that Cisco&#39;s financial health and growth potential are strong.
<h2>Dow Inc.: A High-Yield Dividend Play&nbsp;</h2>
Dow Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dow#NYSE">DOW</a>) is a global leader in manufacturing and distributing specialty chemicals, advanced materials, and plastics, and it has emerged as a compelling opportunity for investors seeking a balance of growth and income. While Dow has faced some recent challenges, its 5.06% dividend yield is a testament to its commitment to shareholder returns. The dividend yield makes Dow a compelling consideration, particularly in an environment where many investors seek stability and a steady income stream.
Since its spin-off from DuPont in 2019, Dow has carved out a strong position in the materials science sector, operating in three principal divisions: Performance Materials &amp; Coatings, Industrial Intermediates &amp; Infrastructure, and Packaging &amp; Specialty Plastics. These divisions cater to many industries, including automotive, construction, electronics, and food manufacturing.
Dow&#39;s stock price has exhibited relative volatility recently due to missed earnings expectations and fluctuating profit numbers. However, it&#39;s essential to consider that Dow shares have experienced a remarkable rise of approximately 115% over the past four years. This long-term upward trajectory suggests a strong foundation and potential for further growth.
Dow&#39;s strong brand recognition, diversified product portfolio, and focus on innovation and sustainability drive its current valuation, with Dow&#39;s analyst community predicting a 5% upside on the stock. It is also essential to consider that Dow&#39;s debt levels have steadily decreased over the past few years, signifying a commitment to fiscal responsibility.
Despite the challenges and volatile market conditions, Dow&#39;s position as a global leader in the materials science sector, coupled with its solid dividend yield, makes it a compelling investment opportunity. Dow Inc. could be a worthwhile addition to your portfolio for investors seeking a well-established company with a strong dividend and potential for growth.
<h2>Chevron Corp.: Energy Fueled by Growth and a Generous Dividend</h2>
Chevron Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cvx#NYSE">CVX</a>) is a leading integrated energy company known for its stability and 37-year commitment to delivering consistent and increasing returns to shareholders. This integrated energy giant offers investors a strong 4.32% dividend yield, with an annual dividend far outpacing its peers.
Chevron&#39;s recent acquisition of Hess Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hes#NYSE">HES</a>) for $53 billion is a testament to its commitment to growth. The deal will add world-class assets to Chevron&#39;s portfolio, solidifying its position as a dominant player in the energy sector. While the acquisition faces legal challenges and potential delays, analysts expect it to ultimately be completed, adding further momentum to Chevron&#39;s growth trajectory.
The second quarter of 2024 saw Chevron deliver strong results, highlighting its healthy fundamentals. The company reported earnings of $4.4 billion, or $2.43 per share, for the quarter, demonstrating its ability to navigate a challenging market environment. The company&#39;s global production also rose by 11% during the quarter, driven by the successful integration of PDC Energy, strong execution in the Permian and DJ Basins, and a rise in the company&#39;s global exploration acreage position.
Chevron&#39;s appeal extends beyond its dividend yield. The company is a value investing favorite, with Warren Buffett&#39;s Berkshire Hathaway holding a significant 6.7% stake. This investment underscores Chevron&#39;s long-term stability and potential for capital appreciation.
<h2>Finding Value in Unassuming Giants</h2>
In a market obsessed with growth at any cost, a sense of caution and a focus on value can be a powerful strategy. These blue-chip stocks represent the bedrock of their respective industries, offering a steady stream of income and the potential for long-term growth. Remember, the market has proven that consistency often outperforms flashiness, so as you explore the market, take notice of these gems. They might just be the missing pieces you need to build a robust and resilient portfolio.
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/these-3-blue-chips-slipped-under-the-markets-radar/">3 Blue Chip Opportunities the Market Overlooked&mdash;Now&#39;s Your Chance</a>&quot; first appeared on MarketBeat.

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3 Blue Chip Opportunities the Market Overlooked—Now's Your Chance

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.graniteconstruction.com&amp;esheet=54132427&amp;newsitemid=20241008186314&amp;lan=en-US&amp;anchor=Granite&amp;index=1&amp;md5=21ebdec6163430f89a54691c458e268a">Granite</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GVA#NYSE">GVA</a>) has announced the signing of a $34 million contract to implement seismic improvements to the Oakland International Airport (OAK) Perimeter Dike. This critical infrastructure project is designed to protect the airport runway from water intrusion from the adjacent San Francisco Bay. Project funding comes in part from the Federal Aviation Administration (FAA) and will be included in Granite's third-quarter CAP.
The primary objective of this project is to enhance the seismic resilience of 4,200 LF of the OAK perimeter dike by utilizing a cement deep soil mixing construction solution (CDSM). This technique will strengthen the levee wall soils and mitigate the risk of dike failure in the event of a strong seismic event. Keller North America, Inc, a leading geotechnical specialty subcontractor, performed the CDSM scope. In addition to the 62,295 CY of CDSM scope, other work includes clearing and grubbing, constructing temporary work pads, installing wetlands protections, protecting in-place existing fuel lines, and installing 2,100 CY of additional rip rap revetment and aggregate base surfacing to restore the existing perimeter road.

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Granite Announces $34M Seismic Improvement Project At Oakland International Airport

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