IG Gr Hldgs Stock (OTC:IGGHY), Trade Ideas

IG Gr Hldgs

IG Group Holdings PLC provides online trading services to its clients. The majority of the company's revenue stems from its derivative products and contracts for difference (CFDs). The company operates through various segments which are The U.K. segment which derives its revenue from financial spread bets, CFDs, binary options, and execution-only stockbroking. The Australian segment derives its revenue from CFDs and binary options. The European segment derives its revenue from CFDs, binary options, and execution-only stockbroking. The Rest of the World segment derives its revenue from the operation of a regulated futures and options exchange as well as CFDs and binary options. The company generates more than half of its revenue from the U.K., followed by Europe and Australia.

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IG Group Holdings PLC

STMicroelectronics NV&nbsp;(NYSE:&nbsp;STM) reported&nbsp;a first-quarter revenue decline of 18.4% year-on-year to $3.47 billion, missing the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/g38421803/stmicroelectronics-reports-2024-first-quarter-financial-results" rel="noreferrer noopener">consensus of $3.62 billion</a>.&nbsp;EPS of $0.54 missed the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $0.59</a>.
Sales to OEMs decreased by 11.5% Y/Y, and Distribution sales fell&nbsp;by 30.8% Y/Y.
Analog products, MEMS, and&nbsp;Sensors (AM&amp;S) segment revenue declined 13.1% Y/Y to $1.22 billion, mainly&nbsp;due to a decrease in MEMS and&nbsp;Imaging.
Power and&nbsp;Discrete&nbsp;products (P&amp;D) segment revenue decreased 9.8% Y/Y to $820 million mainly due to a decrease in&nbsp;Discrete.
Microcontrollers (MCU) segment revenue reduced 34.4% Y/Y to $950 million, mainly&nbsp;due to a decrease in GP MCU.
Digital&nbsp;ICs and RF products (D&amp;RF) segment revenue decreased 2.1%&nbsp;Y/Y&nbsp;to $475 million due to a decrease in ADAS.
Margins:&nbsp;The gross margin declined by 800 bps to 41.7%, mainly due to the combination of the sales price and product mix, unused capacity charges, and reduced manufacturing efficiencies. The operating margin decreased by 1,240 bps to 15.9%.
STMicroelectronics used $(134) million in free cash flow and held $6.24 billion in cash and equivalents as of March 30, 2024. It generated an operating cash flow of $859 million.
Jean-Marc Chery, ST President &amp; CEO, commented: &#8220;Q1 net revenues and gross margin both came in below the midpoint of our business outlook range, driven by lower revenues in Automotive and Industrial, partially offset by higher revenues in Personal Electronics.&#8221;
&#8220;During the quarter, Automotive semiconductor demand slowed down compared to our expectations, entering a deceleration phase, while the ongoing Industrial correction accelerated.&#8221;
Outlook: STMicroelectronics expects fiscal second-quarter 2024 revenue of $3.20 billion, a decrease of about 7.6% sequentially, plus or minus 350 bps (<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">consensus $3.80 billion</a>). The company expects a gross margin of 40.0%, plus or minus 200 bps.
It now expects fiscal 2024 revenue of $14 billion&nbsp;&#8211; $15&nbsp;billion (<a target="_blank" href="https://www.benzinga.com/news/earnings/24/01/36778747/auto-sales-q4-growth-for-stmicroelectronics-more-than-offset-by-sensors-decline-expects-to-spill-ov" rel="noreferrer noopener">prior $15.9 billion&nbsp;– $16.9&nbsp;billion</a>) versus consensus of $16.12 billion and a gross margin in the low 40% (prior low to mid-40%).
For 2024, the company maintained a $2.5 billion net Capex outlook.&nbsp;
STMicroelectronics&nbsp;stock lost 7% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Return Stacked Bonds &amp; Managed Futures ETF Veridien Climate Action ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLIA#NYSE">CLIA</a>) and&nbsp;Columbia ETF Trust I Columbia Seligman Semiconductor And Technology ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SEMI#NYSE">SEMI</a>).
Price Action:&nbsp;STM shares are trading higher by 1.50% at $42.77 premarket at&nbsp;the last check on Thursday.

Earnings

Guidance

Tech

CLIA

SEMI

Not All Chipmakers Are Doing Great; STMicroelectronics Lowers Annual Outlook After Q1 Performance

Piper Sandler analyst Andrew Liesch maintains Capitol Federal Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CFFN#NASDAQ">CFFN</a>) with a Neutral and lowers the price target from $6 to $5.5.

Price Target

Analyst Ratings

CFFN

Piper Sandler Maintains Neutral on Capitol Federal Finl, Lowers Price Target to $5.5

Politics

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JP Morgan analyst Stephen Tusa maintains Vertiv Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>) with a Overweight and raises the price target from $95 to $100.

JP Morgan Maintains Overweight on Vertiv Hldgs, Raises Price Target to $100

Comcast Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) shares are trading lower on the heels of the company&#8217;s first-quarter financial results. Here&#8217;s a <a href="https://www.benzinga.com/quote/CMCSA">rundown of the report</a>.
What To Know: Comcast said first-quarter revenue increased 1.2% year-over-year to $30.058 billion, which beat the&nbsp;<a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">consensus estimate</a>&nbsp;of $29.811 billion, according to&nbsp;<a href="https://benzinga.grsm.io/gxjhpowx7zks" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>. The company reported quarterly earnings of $1.04 per share, which beat analyst estimates of 99 cents per share.
Comcast said it generated $4.5 billion in free cash flow during the quarter. 
Domestic broadband average rate per customer increased&nbsp;4.2% and domestic wireless customer lines Increased&nbsp;21%, including net additions of 289,000. Peacock paid subscribers increased 55% year-over-year to 34 million, including net additions of 3 million in the first quarter.
&#8220;We delivered double-digit growth in Adjusted EPS and free cash flow while returning&nbsp;$3.6 billion&nbsp;to shareholders, investing aggressively in our businesses, and maintaining our strong balance sheet,&#8221; &nbsp;said Brian Roberts, chairman and CEO of Comcast.
&#8220;We grew broadband ARPU over&nbsp;4%, delivered&nbsp;7%&nbsp;revenue growth in our connectivity businesses, and expanded our Adjusted EBITDA margin across Connectivity &amp; Platforms.&#8221;
Management will hold a conference call to discuss these results at 8:30 a.m. ET.
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding">Meta Platforms Q1 Earnings Highlights: Facebook Owner Beats Estimates, But Guidance, Higher Costs Ding Stock</a>
CMCSA Price Action: <a href="https://www.benzinga.com/quote/CMCSA">Comcast shares</a> were down 3.62% at $38.76 at the time of publication, according to <a href="https://benzinga.grsm.io/gxjhpowx7zks" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Photo: rarrarorro from Shutterstock.

Movers

CMCSA

Comcast Q1 Earnings: Revenue Beat, EPS Beat, Peacock Subscribers Up 55% YoY And More

Wedbush analyst Seth Basham reiterates O'Reilly Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORLY#NASDAQ">ORLY</a>) with a Neutral and maintains $1100 price target.

Reiteration

ORLY

Wedbush Reiterates Neutral on O'Reilly Automotive, Maintains $1100 Price Target

Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) shares are falling Thursday on the heels of the company&#8217;s first-quarter financial results. Several analysts also cut price targets on the stock <a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding">following the print</a>.
What Happened: Meta reported first-quarter revenue of $36.455 billion, which came in ahead of analyst estimates of $36.156 billion. The company also beat earnings estimates when it reported EPS of $4.71 versus estimates of $4.33, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Family daily active people were ip 7% year-over-year to 3.24 billion. Ad impressions climbed 20% and average price per ad jumped 6% year-over-year. 
&#8220;It&#8217;s been a good start to the year. The new version of Meta AI with Llama 3 is another step towards building the world&#8217;s leading AI. We&#8217;re seeing healthy growth across our apps and we continue making steady progress building the metaverse as well,&#8221; said Mark Zuckerberg, founder and CEO of Meta.
Related Link: <a href="https://www.benzinga.com/news/24/04/38426370/mark-zuckerberg-says-tens-of-millions-users-have-already-tried-meta-ai-and-people-are-asking-us-to-r">Mark Zuckerberg Says &#8216;Tens Of Millions&#8217; Users Have Already Tried Meta AI, And People Are &#8216;Asking Us To Release&#8230;Wherever They Are&#8217;</a>
Despite beating estimates, the stock is facing heavy selling pressure likely due to the company's guidance. Meta said it expects second-quarter revenue to be in the range of $36.5 billion to $39 billion versus estimates of $38.3 billion. 
The company raised its expense outlook for the year from a range of $94 billion to $99 billion to a new range of $96 billion to $99 billion. Meta also raised its capital expenditures forecast from a range of $30 billion to $37 billion to a new range of $35 billion to $40 billion as the company continues to accelerate its infrastructure investments to support its AI roadmap.
"While we are not providing guidance for years beyond 2024, we expect capital expenditures will continue to increase next year as we invest aggressively to support our ambitious AI research and product development efforts," the company said.
Meta also noted that it expects operating losses to "increase meaningfully" year-over-year for its Reality Labs division.
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding" target="_blank" rel="noreferrer noopener">Meta Platforms Q1 Earnings Highlights: Facebook Owner Beats Estimates, But Guidance, Higher Costs Ding Stock</a>
Analyst Changes: 
<ul>
<li>Goldman Sachs analyst Eric Sheridan maintained Meta with a Buy and lowered the price target from $555 to $500.</li>
</ul>
<ul>
<li>Wolfe Research analyst Deepak Mathivanan maintained Meta with an Outperform and lowered the price target from $530 to $500.</li>
</ul>
<ul>
<li>Needham analyst Laura Martin reiterated Meta with an Underperform.</li>
</ul>
<ul>
<li>Rosenblatt analyst Barton Crockett maintained Meta with a Buy and raised the price target from $520 to $562.</li>
</ul>
<ul>
<li>Wedbush analyst Scott Devitt maintained Meta with an Outperform and lowered the price target from $570 to $480.</li>
</ul>
<ul>
<li>Oppenheimer analyst Jason Helfstein maintained Meta with an Outperform and lowered the price target from $585 to $500.</li>
</ul>
META Price Action: Meta shares were down 15.3% at $417.88 at the time of publication, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Shutterstock.

Meta Platforms Stock Is Tumbling Thursday: What's Going On?

Piper Sandler analyst Alexander Twerdahl maintains Premier Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PFC#NASDAQ">PFC</a>) with a Neutral and raises the price target from $21 to $22.

Piper Sandler Maintains Neutral on Premier Financial, Raises Price Target to $22

State and federal lawmakers are taking steps to regulate deceptive and predatory concert ticket sales practices, following the Taylor Swift concert ticket debacle two years ago.
What Happened: Legislators are considering a ban on speculative sales, a practice where sellers offer tickets they do not yet possess, Reuters reported on Thursday. These tickets are often sold at inflated prices, only to be purchased later from the primary seller at a lower cost.
Maryland will enforce a law banning speculative ticket sales starting July 1. Arizona has already implemented similar legislation, known as the &#8220;Taylor Swift Act.&#8221; Two dozen states nationwide have introduced bills to address event ticketing practices.
Illinois has passed a speculative ticket ban in the state Senate, while Colorado has approved legislation requiring more pricing transparency and a ban on websites imitating legitimate ticket sales sites.
See Also: <a href="https://www.benzinga.com/news/24/04/38349837/elon-musk-agrees-every-american-household-will-have-a-1-000-per-month-home-robot-in-7-years-time?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Agrees Every American Household Will Have A $1,000-Per-Month Home Robot In 7 Years&#8217; Time</a>
Why It Matters: The unscrupulous practices of ticket resellers have often resulted in fans paying inflated prices or receiving counterfeit tickets. In response, venues and top musicians are advocating for federal reforms. Companies like Ticketmaster and SeatGeek have pledged to provide &#8220;all-in&#8221; or &#8220;upfront&#8221; pricing of a ticket&#8217;s cost, including fees from the beginning. The <a href="https://www.benzinga.com/personal-finance/24/03/37877885/if-you-resold-taylor-swift-tickets-you-might-owe-the-irs-heres-why">financial implications of ticket reselling</a> put an average resale price of $2,183 per ticket for Taylor Swift&#8217;s Eras Tour.
Furthermore, 250 artists, including Billie Eilish and Green Day, have expressed support for the Fans First Act, a bill pending in the U.S. Senate. The proposed legislation aims to <a href="https://www.benzinga.com/general/entertainment/23/07/33187091/taylor-swift-fans-in-france-not-having-a-love-story-with-ticketmaster-cant-get-tickets-for-">prevent speculative ticket sales</a>, require &#8220;all-in&#8221; pricing, ban deceptive websites, and strengthen penalties for bot usage. 
Meanwhile, ticket-selling platforms such as Ticketmaster, a unit of Live Nation Entertainment, and StubHub have expressed support for some of the proposed legislative changes. The demand for concert tickets, as evidenced by <a href="https://www.benzinga.com/general/entertainment/23/11/36007958/will-beyonce-concert-film-give-amc-another-1-hit-could-shareholders-be-crazy-in-love-with-q">the success of Swift&#8217;s and Beyonce&#8217;s tours,</a> underscores the need for these reforms. 
Read Next: <a href="https://www.benzinga.com/news/earnings/24/04/38390883/tesla-q1-earnings-highlights-ev-giant-misses-wall-street-estimates-makes-cost-cuts-invests-in-ai-sp?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Q1 Earnings Highlights: EV Giant Misses Wall Street Estimates, Makes Cost Cuts, Invests In AI, Speeds Launch Of New Models</a>
Photo by Brian Friedman on Shutterstock
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Entertainment

Government

Regulations

Taylor Swift Concert Ticket Fiasco Spurs Lawmakers To Regulate Deceptive Sales Practices

Wedbush analyst Jay McCanless reiterates Tri Pointe Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPH#NYSE">TPH</a>) with a Neutral and maintains $35 price target.

Wedbush Reiterates Neutral on Tri Pointe Homes, Maintains $35 Price Target

JP Morgan analyst Doug Anmuth maintains Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) with a Overweight and lowers the price target from $535 to $480.

JP Morgan Maintains Overweight on Meta Platforms, Lowers Price Target to $480

APDN

Trading Halt: Halt status updated at 8:55:00 AM ET: Quotation Resumption: News and Resumption Times

Carter Bankshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARE#NASDAQ">CARE</a>) reported quarterly earnings of $0.24 per share which beat the analyst consensus estimate of $0.10 by 140 percent. The company reported quarterly sales of $33.670 million which beat the analyst consensus estimate of $32.789 million by 2.69 percent. This is a 26.03 percent decrease over sales of $45.520 million the same period last year.

Earnings Beats

CARE

Carter Bankshares Q1 2024 Adj EPS $0.24 Beats $0.10 Estimate, Sales $33.670M Beat $32.789M Estimate

Piper Sandler analyst Joseph Catanzaro maintains Acrivon Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACRV#NASDAQ">ACRV</a>) with a Overweight and raises the price target from $26 to $30.

ACRV

Piper Sandler Maintains Overweight on Acrivon Therapeutics, Raises Price Target to $30

Wedbush analyst Jay McCanless reiterates Meritage Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTH#NYSE">MTH</a>) with a Underperform and maintains $148 price target.

Wedbush Reiterates Underperform on Meritage Homes, Maintains $148 Price Target

Biogen Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) reported better-than-expected earnings for its <a href="https://www.benzinga.com/general/biotech/24/04/38410191/biogens-leqembi-commercial-ramp-up-modest-but-up-ticking-reports-mixed-bag-q1-earnings">first quarter on Wednesday</a>.
Biogen reported first-quarter adjusted EPS of $3.67, up 8%, beating the consensus of $3.44. The company reported sales of $2.29 billion, down 7% year over year and missing the consensus of $2.31 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Multiple sclerosis revenue of $1.1 billion decreased by 4% (down 4% on constant currency). Multiple sclerosis drug Tysabri sales were down to $431.3 million from $472.8 million. Rare disease revenue decreased 4% year over year (down 4% CC) to $423.9 million. Spinraza's revenue fell to $341.3 million from $443.3 million a year ago.
For the fiscal year 2024, Biogen reaffirms adjusted EPS Of $15.00-$16.00 versus consensus of $15.48, up around 5% versus 2023 at the mid-point. The company expects 2024 total revenue to decline by a low- to mid-single-digit percentage, with operating income expected to grow at a low-double-digit percentage.
Biogen shares gained 4.6% to close at $201.99 on Wednesday.
These analysts made changes to their price targets on Biogen following earnings announcement.
<ul>
<li>HC Wainwright &amp; Co. cut the price target on Biogen from $325 to $300. HC Wainwright &amp; Co. analyst Andrew Fein maintained a Buy rating.</li>
<li>Wedbush boosted the price target on Biogen from $213 to $215. Wedbush analyst Laura Chico maintained a Neutral rating.</li>
<li>Needham analyst Ami Fadia, meanwhile, reiterated Biogen with a Buy and maintained a $294 price target.</li>
</ul>
Read More: <a href="https://www.benzinga.com/news/24/04/38429211/jefferies-financial-maplebear-and-2-other-stocks-insiders-are-selling">Jefferies Financial, Maplebear And 2 Other Stocks Insiders Are Selling</a>

BIIB

These Analysts Revise Their Forecasts On Biogen After Q1 Results

JP Morgan analyst Andrea Teixeira downgrades Monster Beverage (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNST#NASDAQ">MNST</a>) from Overweight to Neutral and lowers the price target from $66 to $59.

Downgrades

MNST

JP Morgan Downgrades Monster Beverage to Neutral, Lowers Price Target to $59

Eaton Says Manufacturing Investments In Texas And Wisconsin To Create More Than 800 New Jobs

Piper Sandler analyst Matt O'Brien maintains Conmed (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNMD#NYSE">CNMD</a>) with a Overweight and lowers the price target from $100 to $95.

CNMD

Piper Sandler Maintains Overweight on Conmed, Lowers Price Target to $95

European Aeronautic Defence And Space Unsponsored

EADSY

China's Airbus Order Could Involve Hundreds Of Jets

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IG Group Holdings plc goes ex dividend tomorrow

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