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The Fund generally invests at least 80 percent of its total assets in the component securities of the Small/Mid Cap Index. Inspire Investing, LLC (the Adviser or Index Provider), the Funds index provider (and also the Funds investment adviser) selects securities from a universe of publicly traded, domestic small and mid capitalization equity securities of companies which have an Inspire Impact Score of zero or higher. The Adviser defines mid capitalization companies to be those that are the second largest 10 percent of the U.S. equity market, and small capitalization companies as the next largest 10 percent of the U.S. equity market. The Inspire Impact Score is a proprietary selection methodology that assigns a score to a particular security based on the securitys alignment with biblical values and the positive impact the issuing company has on its customers, communities, workplace and the world. Under normal circumstances, 50 percent of the index will be comprised of equities of small capitalization companies, and 50 percent of the index will be comprised of equities of mid capitalization companies.

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Financial giants have made a conspicuous bearish move on Super Micro Computer. Our analysis of options history for Super Micro Computer (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) revealed 82 unusual trades.
Delving into the details, we found 29% of traders were bullish, while 42% showed bearish tendencies. Out of all the trades we spotted, 39 were puts, with a value of $2,223,818, and 43 were calls, valued at $2,777,259.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $200.0 to $1000.0 for Super Micro Computer over the last 3 months. 
<h3>Insights into Volume &amp; Open Interest</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Super Micro Computer's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Super Micro Computer's significant trades, within a strike price range of $200.0 to $1000.0, over the past month.
<h3>Super Micro Computer 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727289094_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>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SMCI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$32.3</td>
<td>$31.7</td>
<td>$31.9</td>
<td>$460.00</td>
<td>$264.6K</td>
<td>422</td>
<td>388</td>
</tr>
<tr>
<td>SMCI</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>10/18/24</td>
<td>$262.6</td>
<td>$260.1</td>
<td>$261.35</td>
<td>$200.00</td>
<td>$261.3K</td>
<td>3</td>
<td>10</td>
</tr>
<tr>
<td>SMCI</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/16/25</td>
<td>$99.9</td>
<td>$99.6</td>
<td>$99.9</td>
<td>$470.00</td>
<td>$209.7K</td>
<td>0</td>
<td>21</td>
</tr>
<tr>
<td>SMCI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>10/18/24</td>
<td>$33.5</td>
<td>$32.5</td>
<td>$33.0</td>
<td>$460.00</td>
<td>$164.9K</td>
<td>422</td>
<td>271</td>
</tr>
<tr>
<td>SMCI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/27/24</td>
<td>$11.2</td>
<td>$11.0</td>
<td>$11.0</td>
<td>$460.00</td>
<td>$144.1K</td>
<td>1.5K</td>
<td>4.4K</td>
</tr>
</tbody>
</table>

<h3>About Super Micro Computer</h3>
Super Micro Computer Inc provides high-performance server technology services to cloud computing, data center, Big Data, high-performance computing, and "Internet of Things" embedded markets. Its solutions include server, storage, blade and workstations to full racks, networking devices, and server management software. The firm follows a modular architectural approach, which provides flexibility to deliver customized solutions. The Company operates in one operating segment that develops and provides high-performance server solutions based upon an innovative, modular and open-standard architecture. More than half of the firm's revenue is generated in the United States, with the rest coming from Europe, Asia, and other regions.
After a thorough review of the options trading surrounding Super Micro Computer, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Current Position of Super Micro Computer</h3>
<ul>
<li>Currently trading with a volume of 4,105,015, the SMCI's price is down by -0.62%, now at $460.73. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 35 days.</li>
</ul>
<h3>What Analysts Are Saying About Super Micro Computer</h3>
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $637.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Reflecting concerns, an analyst from Barclays lowers its rating to Equal-Weight with a new price target of $438. 
&#x2A; An analyst from CFRA downgraded its action to Hold with a price target of $454. 
&#x2A; An analyst from Barclays has revised its rating downward to Overweight, adjusting the price target to $693. 
&#x2A; An analyst from Loop Capital persists with their Buy rating on Super Micro Computer, maintaining a target price of $1000. 
&#x2A; An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $600. 
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 Super Micro Computer options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

SMCI

Super Micro Computer Options Trading: A Deep Dive into Market Sentiment

Investors with a lot of money to spend have taken a bullish stance on Eli Lilly (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with LLY, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 30 uncommon options trades for Eli Lilly.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 40%, bearish.
Out of all of the special options we uncovered, 9 are puts, for a total amount of $381,441, and 21 are calls, for a total amount of $1,724,773.
<h3>Projected Price Targets</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $300.0 to $1000.0 for Eli Lilly during the past quarter. 
<h3>Analyzing Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for Eli Lilly options trades today is 370.19 with a total volume of 1,675.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Eli Lilly's big money trades within a strike price range of $300.0 to $1000.0 over the last 30 days.
<h3>Eli Lilly Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727289089_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</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>LLY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/18/26</td>
<td>$547.0</td>
<td>$537.0</td>
<td>$540.0</td>
<td>$420.00</td>
<td>$810.0K</td>
<td style="text-align: right;">17</td>
<td style="text-align: right;">15</td>
</tr>
<tr>
<td>LLY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/15/27</td>
<td>$217.15</td>
<td>$211.35</td>
<td>$217.15</td>
<td>$910.00</td>
<td>$108.5K</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">5</td>
</tr>
<tr>
<td>LLY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/19/25</td>
<td>$207.65</td>
<td>$205.9</td>
<td>$205.9</td>
<td>$820.00</td>
<td>$102.9K</td>
<td style="text-align: right;">90</td>
<td style="text-align: right;">5</td>
</tr>
<tr>
<td>LLY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/27/24</td>
<td>$6.0</td>
<td>$5.65</td>
<td>$6.0</td>
<td>$930.00</td>
<td>$102.6K</td>
<td style="text-align: right;">789</td>
<td style="text-align: right;">516</td>
</tr>
<tr>
<td>LLY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/15/27</td>
<td>$54.5</td>
<td>$50.55</td>
<td>$54.5</td>
<td>$680.00</td>
<td>$70.8K</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">13</td>
</tr>
</tbody>
</table>

<h3>About Eli Lilly</h3>
Eli Lilly is a drug firm with a focus on neuroscience, cardiometabolic, cancer, and immunology. Lilly's key products include Verzenio for cancer; Mounjaro, Zepbound, Jardiance, Trulicity, Humalog, and Humulin for cardiometabolic; and Taltz and Olumiant for immunology.
Following our analysis of the options activities associated with Eli Lilly, we pivot to a closer look at the company's own performance.
<h3>Present Market Standing of Eli Lilly</h3>
<ul>
<li>Trading volume stands at 1,094,643, with LLY's price up by 0.12%, positioned at $925.56.</li>
<li>RSI indicators show the stock to be is currently neutral between overbought and oversold.</li>
<li>Earnings announcement expected in 35 days.</li>
</ul>
<h3>Expert Opinions on Eli Lilly</h3>
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $1007.2.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Eli Lilly with a target price of $1100. 
&#x2A; In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $885. 
&#x2A; In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $885. 
&#x2A; An analyst from Morgan Stanley has revised its rating downward to Overweight, adjusting the price target to $1106. 
&#x2A; An analyst from Citigroup has revised its rating downward to Buy, adjusting the price target to $1060. 
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 Eli Lilly with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Eli Lilly Unusual Options Activity

Financial giants have made a conspicuous bearish move on Chipotle Mexican Grill. Our analysis of options history for Chipotle Mexican Grill (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) revealed 14 unusual trades.
Delving into the details, we found 28% of traders were bullish, while 64% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $244,565, and 11 were calls, valued at $765,953.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $38.0 to $64.0 for Chipotle Mexican Grill over the last 3 months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for Chipotle Mexican Grill options trades today is 2823.83 with a total volume of 1,660.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Chipotle Mexican Grill's big money trades within a strike price range of $38.0 to $64.0 over the last 30 days.
<h3>Chipotle Mexican Grill Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727289084_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>CMG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$18.9</td>
<td>$18.7</td>
<td>$18.8</td>
<td>$40.00</td>
<td>$188.0K</td>
<td>8.3K</td>
<td style="text-align: right;">200</td>
</tr>
<tr>
<td>CMG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$18.8</td>
<td>$18.6</td>
<td>$18.7</td>
<td>$40.00</td>
<td>$187.0K</td>
<td>8.3K</td>
<td style="text-align: right;">100</td>
</tr>
<tr>
<td>CMG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$11.0</td>
<td>$10.7</td>
<td>$11.0</td>
<td>$64.00</td>
<td>$93.5K</td>
<td>2.4K</td>
<td style="text-align: right;">87</td>
</tr>
<tr>
<td>CMG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$5.9</td>
<td>$5.6</td>
<td>$5.9</td>
<td>$54.00</td>
<td>$89.6K</td>
<td>1.7K</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>CMG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$4.9</td>
<td>$4.8</td>
<td>$4.9</td>
<td>$64.00</td>
<td>$83.3K</td>
<td>5.2K</td>
<td style="text-align: right;">188</td>
</tr>
</tbody>
</table>

<h3>About Chipotle Mexican Grill</h3>
Chipotle Mexican Grill is the largest fast-casual chain restaurant in the United States, with systemwide sales of $9.9 billion in 2023. The Mexican concept is predominately company-owned, although it recently inked a development agreement with Alshaya Group in the Middle East. It had a footprint of nearly 3,440 stores at the end of 2023, heavily indexed to the United States, although it maintains a small presence in Canada, the UK, France, and Germany. Chipotle sells burritos, burrito bowls, tacos, quesadillas, and beverages, with a selling proposition built around competitive prices, high-quality food sourcing, speed of service, and convenience. The company generates its revenue entirely from restaurant sales and delivery fees.
<h3>Current Position of Chipotle Mexican Grill</h3>
<ul>
<li>With a volume of 4,720,806, the price of CMG is up 0.23% at $58.09. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 34 days.</li>
</ul>
<h3>What The Experts Say On Chipotle Mexican Grill</h3>
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $61.5.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Wedbush has revised its rating downward to Outperform, adjusting the price target to $58. 
&#x2A; An analyst from TD Cowen downgraded its action to Buy with a price target of $65. 
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 Chipotle Mexican Grill with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

This Is What Whales Are Betting On Chipotle Mexican Grill

Maryland's cannabis market continues in an <a href="https://www.benzinga.com/markets/cannabis/24/06/39514465/marylands-cannabis-sales-surge-generating-over-14-6m-in-revenue">upward trajectory</a>, with Q2 2024 tax revenue reaching $22.3 million, marking a 52% increase from the previous quarter. 
The impressive growth reflects the increase in the adult-use market, which became legal last summer under the <a href="https://www.benzinga.com/markets/cannabis/23/05/32198552/its-official-gov-moore-signs-marylands-cannabis-legalization-bill-into-law-sales-begin-july-1">Cannabis Reform Act</a>, which set a 9% tax rate on sales to be used for various state initiatives aimed at fostering equity and community development, <a href="https://thebaynet.com/marylands-cannabis-tax-revenue-hits-22-3-million-in-q2-2024-up-52-from-q1/">reported</a> The BayNet. 
According to Maryland Comptroller Brooke Lierman, the state's cannabis industry is more than just a revenue generator. 
"The market for cannabis continues to grow in Maryland and has shown capacity to create new jobs, new investment, and new opportunities, particularly for areas that are marginalized and left behind by a changing economy," Lierman stated.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39647513/gov-wes-moore-announces-maryland-cannabis-sales-exceed-1-1b-in-first-year-of-legalization">Gov. Wes Moore Announces Maryland Cannabis Sales Exceed $1.1B In First Year Of Legalization</a>
<h3 class="wp-block-heading">Distribution Of Cannabis Tax Revenue</h3>
The $22.3 million in cannabis tax revenue collected during Q2 2024 is distributed across several key funds. 
The Community Reinvestment and Repair Fund (CRRF), designed to support areas impacted by past cannabis prohibition, received $7.8 million or 35% of the total revenue. 
"These revenue numbers are a clear indication of the potential for Maryland's cannabis industry to drive economic growth while prioritizing equity," said Audrey Johnson, executive director of the Office of<a href="https://www.benzinga.com/topic/social-equity"> Social Equity</a>,
In addition to the CRRF, revenues were allocated as follows: 
<ul>
<li>Maryland counties received $1.1 million, </li>
<li>The Cannabis Public Health Fund and Cannabis Business Assistance Fund each received $1.1 million, </li>
<li>$11.2 million was directed to the state's General Fund. </li>
</ul>
These allocations aim to support public health, small business development, and local economies throughout the state, ensuring the benefits of cannabis legalization are felt across Maryland.
<ul>
<li>Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/06/39514465/marylands-cannabis-sales-surge-generating-over-14-6m-in-revenue">Maryland&#8217;s Cannabis Sales Surge, Generating Over $14.6M In Revenue </a></li>
</ul>
Photo: The apothecarium dispensary

Cannabis

Regulations

Retail Sales

Legal

Maryland's Cannabis Tax Revenue Goes Through The Roof In Q2 2024: $22.3M, Most Destined For Community Repair Fund

Corteva (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTVA#NYSE">CTVA</a>) has outperformed the market over the past 5 years by 1.5% on an annualized basis producing an average annual return of 15.7%. Currently, Corteva has a market capitalization of $40.08 billion. 
Buying $100 In CTVA: If an investor had bought $100 of CTVA stock 5 years ago, it would be worth $203.96 today based on a price of $57.90 for CTVA at the time of writing.
<h3>Corteva's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727289031_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

CTVA

If You Invested $100 In This Stock 5 Years Ago, You Would Have $200 Today

Coherent (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COHR#NYSE">COHR</a>) has outperformed the market over the past 15 years by 2.02% on an annualized basis producing an average annual return of 14.04%. Currently, Coherent has a market capitalization of $13.80 billion. 
Buying $100 In COHR: If an investor had bought $100 of COHR stock 15 years ago, it would be worth $707.77 today based on a price of $90.03 for COHR at the time of writing.
<h3>Coherent's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727289026_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

COHR

Here's How Much $100 Invested In Coherent 15 Years Ago Would Be Worth Today

Citigroup analyst Steven Enders maintains Paycor HCM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYCR#NASDAQ">PYCR</a>) with a Neutral and raises the price target from $15 to $16.

Price Target

Analyst Ratings

PYCR

Citigroup Maintains Neutral on Paycor HCM, Raises Price Target to $16

American Tower Corporation&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amt#NYSE">AMT</a>) extensive and geographically diversified communication real estate portfolio positions it well to ride the growth curve amid rising capital spending by wireless carriers on the incremental demand from global 4G and 5G deployment efforts.
Its expansionary efforts and disciplined capital-allocation strategy augur well for long-term growth. However, customer concentration poses a key concern for the company.
<h2>What&#39;s Aiding AMT Stock?</h2>
With the advancement in mobile technology, such as 4G and 5G networks, and the proliferation of bandwidth-intensive applications, mobile data usage has increased significantly globally. The excessive use of network-intensive applications for video conferencing, cloud services and hybrid-working scenarios is likely to fuel the rise.
This has led to greater capital spending by wireless carriers due to the incremental demand from global 4G and 5G deployment efforts, growing wireless penetration and spectrum auctions, driving demand for AMT&#39;s wireless communication infrastructure. This upbeat trend is likely to continue in the upcoming period, boosting demand for the company&#39;s assets and driving healthy leasing activity.
American Tower has a solid track record of delivering healthy performance due to the robust demand for its global macro-tower-oriented asset base. It has witnessed strong growth in key financial metrics while continuing platform expansion.
In the second quarter of 2024, the company recorded healthy year-over-year organic tenant billings growth of 5.3% and total tenant billings growth of 6.1%. Also, in the second quarter, revenues from the property segment and adjusted EBITDA increased 4.6% and 8.1% on a year-over-year basis, respectively. Between 2013 and 2023, American Tower&#39;s revenues from the property segment and adjusted EBITDA witnessed a CAGR of 12.8% and 12.5%, respectively. Amid secular growth trends in the wireless industry, the healthy performance is expected to continue in 2024 and beyond.
To capitalize on the secular trends of the industry, AMT is consistently focusing on macro-tower investment opportunities and expansionary efforts across global markets. For 2023, the company shelled out approximately $168 million to acquire communications sites, previously subleased sites in the United States and other communications-related infrastructure globally.
<h2>AMT&#39;s Ample Liquidity</h2>
Apart from having a robust operating platform, American Tower has ample liquidity to support its debt servicing. Its consistent adjusted EBITDA margins and revenue growth, as well as favorable return on invested capital, indicate strength in its underlying core business and support its ability to manage its near-term obligations.
As of June 30, 2024, the company had $9.17 billion in total liquidity, and its net leverage ratio was 4.8. In addition, with a weighted average remaining term of debt of 5.8 years, it has decent financial flexibility.
<h2>AMT&#39;s Sustainable Dividend Payouts</h2>
American Tower has a disciplined capital allocation strategy and remains committed to increasing shareholder value through regular dividend hikes. In the last five years, American Tower increased its dividend 17 times, and the annualized dividend growth rate for this period is 12.74%. Moreover, it has a lower dividend payout compared with its industry. Such disbursements highlight its operational strength and commitment to rewarding shareholders handsomely.
Shares of this Zacks Rank #3 (Hold) company have rallied 20.8% in the past six months, outperforming the industry&#39;s growth of 17.6%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/15/79025.jpg?v=1740832763" />
Image Source: Zacks Investment Research
<h2>What&#39;s Affecting AMT Stock?</h2>
American Tower has a high customer concentration, with T-Mobile, AT&amp;T and Verizon Wireless contributing 17%, 16% and 12%, respectively, of its property revenues for 2023. The loss of TMUS, T or Verizon Wireless as customers, consolidation among them or reduction in network spending could adversely impact the company&#39;s top-line growth.
The merger between T-Mobile and Sprint, which closed in April 2020, resulted in tower site overlap for American Tower. During the first half of 2024, the churn was roughly 2% of its tenant billings, mainly driven by the churn in its U.S. &amp; Canada property segment.
Given the contractual lease cancellations and non-renewals by T-Mobile, including legacy Sprint Corporation leases, management expects the churn rate in its U.S. &amp; Canada property segment to remain elevated through 2025.
Although the Federal Reserve has announced a rate cut, the interest rate is still high and is a concern for American Tower. Elevated rates imply a higher borrowing cost for the company, which would affect its ability to purchase or develop real estate. American Tower has a substantial debt burden, and its total debt, as of June 30, 2024, was approximately $38.97 billion.
<h2>Stocks to Consider</h2>
Some better-ranked stocks from the broader REIT sector are Lamar Advertising (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lamr#NASDAQ">LAMR</a>) and Four Corners Property Trust (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fcpt#NYSE">FCPT</a>), each carrying a Zacks Rank #2 (Buy) at present.
The Zacks Consensus Estimate for Lamar&#39;s 2024 FFO per share is pinned at $8.09, suggesting year-over-year growth of 8.3%.
The Zacks Consensus Estimate for Four Corners&#39; 2024 FFO per share stands at $1.73, indicating an increase of 3.6% from the year-ago reported figure.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
<a href="https://www.zacks.com/stock/news/2340753/here-s-why-you-should-keep-american-tower-in-your-portfolio?cid=CS-BENZ-FT-analyst_blog|zer_report_update-2340753">To read this article on Zacks.com click here.</a>

Large Cap

Mid Cap

REIT

Dividends

FCPT

LAMR

Here's Why You Should Keep American Tower in Your Portfolio

Mark Cuban, billionaire entrepreneur and former owner of the Dallas Mavericks, has emerged as one of Vice President Kamala Harris's most influential political surrogates, according to former South Carolina House of Representatives member Bakari Sellers.
What Happened: &#8220;Mark Cuban has turned out to be one of @VP most effective surrogates,&#8221; Bakari <a href="https://x.com/Bakari_Sellers/status/1838620266244505937">posted</a> on X (formerly Twitter).
Known for his strong opinions on technology and finance, Cuban's advocacy for decentralized finance (DeFi) aligns with broader Democratic values, positioning him as a significant figure in both political and cryptocurrency circles.
Cuban's role as a surrogate became increasingly visible during events like Crypto4Harris, a virtual town hall and fundraiser where he voiced his belief in <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40924380/mark-cuban-slams-trumps-crypto-plans-while-jon-stewart-calls-him-the-lefts-favorite-billio">cryptocurrency as a financial equalizer</a>.
"Supporting crypto isn't about making the rich even richer. It's about egalitarianism," Cuban said during the event. His stance reflects a broader desire to create a decentralized financial system accessible to everyone, not just the elite.
With a history of promoting crypto's potential, Cuban has consistently pushed for regulatory clarity, advocating for regulations that protect investors without stifling innovation. 
His belief in crypto's decentralization has been a recurring theme, particularly as the U.S. government grapples with how to regulate digital assets. 
Cuban warned that excessive regulations could harm the industry, stating that "We can regulate it without turning it into a tool for the few."
<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/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41022826/bill-maher-slams-bitcoin-mining-nonsense-of-finding-a-number-means-green-energy-progress-i">Bill Maher Slams Bitcoin Mining: &#8216;Nonsense Of Finding A Number&#8217; Means Green Energy Progress Is Being &#8216;Sucked Away By Crypto&#8217;</a>
As the 2024 U.S. presidential election approaches, Cuban has pointed out the <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39294815/mark-cuban-says-explains-cryptocurrencys-pivotal-role-determining-trumps-potential-win-ove">potential significance of the ‘crypto vote.'</a> 
He has raised concerns about President Joe Biden's relationship with SEC Chairman Gary Gensler, whose strict regulatory stance has alienated many within the crypto community. 
Cuban said on X, "Biden has to choose between Gensler or crypto voters, or it could cost him the White House," highlighting the political weight that crypto now holds.
Cuban's engagement with crypto goes beyond rhetoric. 
He has been a vocal advocate for cryptocurrencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), even incorporating Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) as a <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36835819/mark-cubans-crypto-ama-dallas-mavericks-say-yes-to-doge-printer-go-brrr-his-crypto-holding">payment method for the Dallas Mavericks</a>.
However, Cuban also maintains a cautious approach, advising investors to allocate no more than 10% of their portfolio to <a href="https://www.benzinga.com/personal-finance/24/08/40318568/mark-cuban-says-to-get-rich-invest-10-of-savings-in-high-risk-investments-but-if-its-bitcoin-thr">high-risk investments such as cryptocurrencies</a>.
Despite suffering a personal loss of nearly $870,000 in a crypto scam, Cuban remains committed to the space. 
His frustrations, however, lie in the industry&#8217;s <a href="https://www.benzinga.com/markets/cryptocurrency/23/10/35483264/is-crypto-too-complicated-for-grandma-mark-cuban-thinks-so">slow pace of innovation</a>, particularly the lack of a "killer app" that could propel crypto into mainstream adoption. 
Cuban has likened this moment to the early days of the iPhone, which didn't fully take off until apps like Instagram became popular.
What&#8217;s Next: Events like Benzinga's <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> on Nov. 19 is expected to further shape discussions around crypto regulation and innovation as the industry matures.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41026437/anthony-scaramucci-says-sec-chair-gary-gensler-should-resign-for-the-sake-of-the-country">Anthony Scaramucci Says SEC Chair Gary Gensler Should &#8216;Resign For The Sake Of The Country&#8217;</a></li>
</ul>
Image: Shutterstock

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

Cryptocurrency

$BTC

$DOGE

$ETH

Mark Cuban Is 'One Of Kamala Harris' Most Effective Surrogates,' Says Former SC House Rep Bakari Sellers — And He's Got A Crypto History

On Wednesday, Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), Charter Communications Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>), and Comcast Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) announced <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n41028316/broadcom-charter-communications-and-comcast-to-jointly-develop-unified-docsis-chipsets-capable-of-" rel="noreferrer noopener">the joint development</a> of Unified DOCSIS chipsets for network nodes, smart amps, and cable modems.
The chipsets enable FDX and ESD versions of the DOCSIS 4.0 specification and set the stage for delivering over 25 Gbps speeds over existing networks.
&#8220;By pushing the benefits of AI and ML to the edge of our network, we are maximizing network performance, improving the internet experience, and introducing new and exciting services to support our customers&#8217; incredible appetite for more, higher quality data,&#8221; said&nbsp;Charlie Herrin,&nbsp;President, Technology, Product, Experience, Comcast.
Also on Wednesday, ICT provider&nbsp;FS revealed its <a target="_blank" href="https://www.benzinga.com/news/24/09/41020880/broadcom-chipset-fuels-fss-high-performance-ai-networking-solutions" rel="noreferrer noopener">400G and 800G Ethernet switches</a>, powered by&nbsp;Broadcom Tomahawk 5 chipsets for &nbsp;AI, big data, high-performance computing (HPC), and distributed storage.
Broadcom launched Sian 2 digital signal processing&nbsp;(DSP)&nbsp;for high-performance AI data centers earlier this week.
Broadcom stock is up 110% as it capitalizes on the AI shit.
Charter Communications stock has been down 28% in the last 12 months due to <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/40010194/charter-communications-analysts-increase-their-forecasts-after-upbeat-q2-earnings" rel="noreferrer noopener">residential Internet customer loss</a> caused by the expiry of the FCC&#8217;s Affordable Connectivity Program (&#8220;ACP&#8221;) subsidies. Comcast stock is down 9% as <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39908857/comcasts-q2-earnings-studios-and-theme-parks-pull-revenue-lower-broadband-and-video-subs-fall" rel="noreferrer noopener">broadband and video subscriber losses</a> and lower revenue from Theme Parks and Studios weigh on the stock.
Price Actions: AVGO stock is up 0.29% at $175.34 at the last check Wednesday.
Photo via Wikimedia Commons

Tech

AVGO

CHTR

CMCSA

New Broadcom Chipsets Set to Boost Comcast and Charter Networks With Over 25 Gbps Speed

Citigroup analyst Steven Enders maintains Open Text (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OTEX#NASDAQ">OTEX</a>) with a Neutral and raises the price target from $32 to $34.

OTEX

Citigroup Maintains Neutral on Open Text, Raises Price Target to $34

Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)&#8217;s annual developer conference kicked off Wednesday with a slew of new product announcements from the Facebook parent&#8217;s <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40989179/meta-connect-2024-preview-cheaper-vr-expected-analysts-see-augmented-reality-and-ai">California headquarters</a>.
What To Know: The Meta Connect 2024 event got started with a keynote address from CEO Mark Zuckerberg, who suggested the future has arrived.
&#8220;A lot of the stuff we&#8217;ve been talking about for a long time, glasses, mixed reality, AI, it&#8217;s happening. And we can start to see how the future of computing and the future of human connection are going to look, and it&#8217;s pretty awesome,&#8221; Zuckerberg said on stage at Menlo Park.
Zuckerberg went on to introduce new products and features focused on Meta's AR/VR platforms, the metaverse and its open source generative AI platform Llama. Here&#8217;s a look at some of the biggest announcements coming out of the event Wednesday afternoon.
Meta Quest 3S: The newest version of Meta&#8217;s Quest VR headset will come packed with features for $299.99. Several leaks had come out about the headset before the event and they appear to be accurate. 
The Quest 3S will offer the same mixed reality features and performance as the Quest 3. According to <a href="https://www.theverge.com/2024/9/25/24250234/meta-connect-rayban-glasses-orion-ai-llama">The Verge</a>, it comes packed with the same Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) Snapdragon XR2 Gen 2 chip and the same Touch Plus controllers. The new headset will offer longer battery life than its predecessor. 
&#8220;Quest is going to be able to be a natural extension of your PC,&#8221; Zuckerberg said, adding that Quest is the &#8220;best mixed reality device that you can buy today.&#8221;
Preorders for the new device open on Wednesday. The Quest 3S will begin shipping on Oct. 15. 
See Also: <a href="https://www.benzinga.com/news/24/09/41029168/meta-connect-leaks-reveal-affordable-quest-3s-batman-game-bundle-report">Meta Connect Leaks Reveal Affordable Quest 3S, Batman Game Bundle: Report</a>
Meta AI: Zuckerberg announced several new updates for Meta AI and unveiled its first open-source model capable of processing both images and text.
Meta&#8217;s new Llama 3.2 is expected to allow developers to create more advanced AI applications. It includes two vision models and two lightweight text-only models. 
Meta also announced that it&#8217;s adding conversational voice options from celebrities to its AI chatbots across its social media platforms, allowing users to talk to Meta AI and hear responses in celebrity voices such as John Cena or Kristen Bell.
Users can also submit photos to Meta&#8217;s chatbot and get answers to questions about the images.
Meta&#8217;s Ray-Ban Smart Glasses: Meta unveiled a series of new updates for its Ray-Ban smart glasses at the event. Zuckerberg also noted that the company plans to release more features in the coming months that he&#8217;s &#8220;really excited about.&#8221;
On Wednesday, Meta focused on software for the glasses that help create more real-world use cases including scanning QR codes you are looking at or calling phone numbers you see. The company also introduced a &#8220;Reminders&#8221; feature that prompts the glasses to take a photo of something and reminds you about it later on via notification.
Meta also unveiled a new limited edition transparent edition of the Ray-Ban frames and announced that it will be releasing a new range of&nbsp;transition&nbsp;lenses.
&#8220;As they get more and more useful I think a lot more people are going to want glasses that they can take indoors, outdoors, everywhere that they go. I think this is going to be a big deal,&#8221; Zuckerberg said. 
From Last Week: <a href="https://www.benzinga.com/trading-ideas/technicals/24/09/40923222/stock-of-the-day-is-meta-on-the-brink-of-a-major-breakout">Stock Of The Day: Is Meta On The Brink Of A Major Breakout?</a>
Meta Orion: Meta also announced its new prototype holographic AR glasses called &#8220;Orion,&#8221; which Zuckerberg called &#8220;the most advanced glasses the world has ever seen.&#8221;
&#8220;This isn&#8217;t passthrough. This is the physical world with holograms laid on it,&#8221; the Meta CEO said. 
Meta&#8217;s new Orion glasses feature a completely new type of display architecture. It&#8217;s not actually a screen that you are looking at, Zuckerberg said. 
Users will be able to interact with the AR glasses using their voice through <a href="http://benzinga.com/topic/ai">AI</a> and eyes and hands, but also through a neural interface that connects with a wristband.
&#8220;With Orion we are getting closer to achieving the dream of <a href="https://www.benzinga.com/general/gaming/24/08/40423966/gta-san-andreas-vr-on-hold-as-meta-reality-labs-reckons-with-16b-in-losses">Reality Labs</a>, to create the next great computing platform that delivers a deep sense of presence like you are right there with another person. This is where we are going,&#8221; Zuckerberg said.
META Price Action: <a href="http://benzinga.com/quote/meta">Meta shares</a> were up 2.11% at $575.37 at the time of publication, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/09/41020937/us-stocks-may-stall-after-s-p-500-hits-another-record-micron-earnings-meta-connect-on-traders-radar">US Stocks May Stall After S&amp;P 500 Hits Another Record; Micron Earnings, Meta Connect On Traders&#8217; Radar: Why This Strategist Is Optimistic About Q4</a></li>
</ul>
Photo of Meta Orion augmented reality glasses courtesy of the company.

Events

QCOM

Meta Unveils New AI Features, Quest 3S, Llama 3.2, Holographic Orion Glasses At Connect 2024: 'We Are Getting Closer To Achieving The Dream Of Reality Labs'

Markforged Holding Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MKFG#NYSE">MKFG</a>) and Nano Dimension Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNDM#NASDAQ">NNDM</a>) shares jumped on Wednesday after the companies disclosed <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g41026691/nano-dimension-to-acquire-markforged-creating-a-leading-player-in-additive-manufacturing-am-with-t" rel="noreferrer noopener">an acquisition deal.</a>
As per the deal, Nano Dimension will acquire all outstanding shares of Markforged in an all-cash deal at $5.00 per share. The aggregate total consideration payable to Markforged&#8217;s shareholders is $115 million. 
This represents a 71.8% premium to Markforged&#8217;s volume-weighted average price (VWAP) on September 24, 2024, and a 67.8% premium to its 90-day VWAP as of the same date.
Following the closing, the combined company, including both Desktop Metal and Markforged, is expected to have a strong balance sheet with total cash and cash equivalents, including marketable securities, projected at $475 million.
Yoav Stern, Chief Executive Officer and member of the board of directors of Nano Dimension said, &#8220;Markforged is an exceptional company with innovative AM materials and solutions for true production. Their prowess is validated by their more than fifteen thousand installed and connected systems in the field with many leading names across key industry verticals.&#8221;
&#8221;This is all the more substantial when we think about the anticipated closing of our deal with Desktop Metal. We believe the combination of Nano Dimension, Desktop Metal, and Markforged further strengthens our unique opportunity in creating value for our shareholders, customers, and employees as we work to deliver profitable growth, exceptional services, and notable career development opportunities.&#8221;
Related: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39616356/desktop-metal-sold-nano-dimension-swoops-in-all-cash-offer" rel="noreferrer noopener">Desktop Metal Sold! Nano Dimension Swoops In All-Cash Offer</a>
The transaction, unanimously approved by the Boards of Directors of both companies, is expected to close in the first quarter of 2025, pending the satisfaction of customary closing conditions.
Nano Dimension intends to finance the deal using its cash on hand. As of June-end, Nano Dimension held&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40464695/nano-dimensions-q2-revenue-grows-amid-industry-challenges-details" rel="noreferrer noopener">$764 million&nbsp;in cash and equivalents</a>.
Price Action: MKFG shares are up 70.3% at $4.65, and NNDM shares rose 7.69% at $2.38 at the last check Wednesday.
Image via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com//node/41030256" target="_blank" rel="noreferrer noopener">PlayStation Plus October Lineup Revealed: WWE 2K24, Dead Space, More</a></li>
</ul>

Equities

Movers

MKFG

NNDM

Nano Dimension Snaps Up Markforged In $115M Deal: Details

Citigroup analyst Steven Enders maintains Monday.Com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDY#NASDAQ">MNDY</a>) with a Neutral and raises the price target from $296 to $327.

MNDY

Citigroup Maintains Neutral on Monday.Com, Raises Price Target to $327

Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SONN#NASDAQ">SONN</a>) shares are trading lower by 19.9% to 72 cents Wednesday afternoon after the company announced a <a href="https://www.benzinga.com/pressreleases/24/09/g41023240/sonnet-biotherapeutics-announces-1-for-8-reverse-stock-split">1-for-8 reverse stock split</a>.
What Else: Sonnet BioTherapeutics says the reverse stock split will be effective for trading on September 30. The move is aimed at meeting Nasdaq&#8217;s $1.00 minimum bid price requirement. 
The reverse split will reduce the company&#8217;s outstanding shares from 5.2 million to approximately 650,300, while maintaining the same par value and authorized share count. 
The reverse split will also proportionately adjust warrants, stock options and equity incentive plans. Per Sonnet, stockholders approved this action on September 12.
Read Also: <a href="https://www.benzinga.com/news/large-cap/24/09/41029162/feds-favorite-inflation-data-friday-could-sway-november-interest-rate-cut-odds">Fed&#8217;s Favorite Inflation Data Friday Could Sway November Interest Rate Cut Odds</a>
<h2 class="wp-block-heading">Should I Sell My SONN Stock?</h2>
Whether to sell or hold a stock largely depends on an investor's strategy and risk tolerance. Swing traders may sell an outperforming stock to lock in a capital gain, while long-term investors might ride out the turbulence in anticipation of further share price growth.
Similarly, traders willing to minimize losses may sell a stock that falls a certain percentage, while long-term investors may see this as an opportunity to buy more shares at a discounted price.
Shares of Sonnet BioTherapeutics have lost 72.99% year to date. This compares to the average annual return of -83.32%, meaning the stock has outperformed its historical averages. Investors can compare a stock's movement to its historical performance to gauge whether this is a normal movement or a potential trading opportunity. 
For analysis tools, charting data and access to exclusive stock news, check out <a href="https://pro.benzinga.com/">Benzinga PRO. Try it for free.</a>
SONN has a 52-week high of $3.05 and a 52-week low of $0.62.

SONN

Why Sonnet BioTherapeutics (SONN) Shares Are Down 19% Today

Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google filed an <a target="_blank" href="https://cloud.google.com/blog/topics/inside-google-cloud/filing-eu-complaint-against-microsoft-licensing/" rel="noreferrer noopener">antitrust complaint against</a>&nbsp;Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) with the European Union&#8217;s top antitrust regulator Tuesday for allegedly abusing its influence to lock customers into Microsoft&#8217;s cloud platform Azure.
Google Cloud Vice President Amit Zavery said that Microsoft customers had to pay a 400% mark-up to keep running Windows Server on rival cloud computing operators.
For nearly twenty years, Google became a target of EU antitrust action, partly stemming from&nbsp;complaints supported&nbsp;by Microsoft, the Wall Street Journal <a target="_blank" href="https://www.wsj.com/tech/google-files-eu-antitrust-complaint-against-microsoft-cfcd99bb?mod=tech_lead_story" rel="noreferrer noopener">reports</a>.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/25092147/newplot-21.png" alt="" class="wp-image-565512" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/25092147/newplot-21.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/25092147/newplot-21-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Google has long trailed Microsoft and&nbsp;Amazon.com Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Amazon Web Services in the cloud business.
Google&#8217;s complaint comes after Microsoft&#8217;s settlement of a complaint from a trade group representing European cloud services providers.
Google argues that Windows Server customers are unfairly penalized if they want to use competing cloud services.
Google has also made similar arguments to those of the U.K.&#8217;s competition regulator.
<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40986921/microsofts-ai-lead-shrinks-analyst-downgrades-stock-as-amazon-and-google-close-the-" rel="noreferrer noopener">Earlier this week</a>, DA Davidson analyst Gil Luria&nbsp;noted Amazon Web Services and Google Cloud are gaining traction in cloud and code generation businesses at the cost of Microsoft Azure.
Big Tech companies have been drawing global regulatory scrutiny for their alleged anticompetitive practices, which have boosted their toplines and bottomlines. The companies allegedly created &#8220;walled gardens&#8221; under their products and services, preventing users from resorting to rival services.
Google drew flak for paying companies like Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) to<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40190328/google-antitrust-challenge-puts-billions-in-search-revenue-at-stake-analyst" rel="noreferrer noopener"> keep its search engine</a> as the default for its devices. Apple also drew scrutiny for preventing users from using <a target="_blank" href="https://www.benzinga.com/government/24/09/40943746/after-lightning-port-eu-targets-apples-iphone-and-ipad-systems-demands-greater-access-for-third-part" rel="noreferrer noopener">rival operating systems</a> for its devices.
Reports claimed Amazon&#8217;s alleged antitrust practices of preferential treatment to its products on its platforms could lead to the <a target="_blank" href="https://www.benzinga.com/news/23/09/34917805/ftc-and-states-take-on-amazon-in-antitrust-battle-1" rel="noreferrer noopener">company&#8217;s breakup</a>. Google also faced similar concerns. However, Wedbush&#8217;s Dan Ives&nbsp;snubbed worries over the breakup of Big Techs for alleged <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40366001/big-tech-breakup-highly-unlikely-despite-googles-doj-antitrust-setback-says-wedbush" rel="noreferrer noopener">violation of antitrust norms</a>.
Price Actions: MSFT stock is up 0.55% at $431.54 at the last check on Wednesday.
Photo via Shutterstock

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Google Challenges Microsoft's Cloud Dominance, Files Antitrust Complaint in Europe: Report

MercadoLibre (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meli#NASDAQ">MELI</a>), the leading e-commerce platform in Latin America, has seen its stock jump 62.9% over the past year, outperforming the Zacks Internet-Commerce industry&#39;s return of 36%, the broader retail sector&#39;s rally of 30.3% and the S&amp;P 500 index&#39;s gain of 31.1%.
This impressive growth has been fueled by several factors, including MELI&#39;s growing e-commerce business, robust shipping services, and strong presence in Brazil, Mexico and Argentina.
The company is also benefiting from the solid momentum in its Mercado Pago fintech platform that allows users to send and receive payments seamlessly, which is another positive.
<h2>One-Year Price Chart</h2>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/71/78997.jpg?v=1972780575" style="border-style:solid; border-width:1px" />
Image Source: Zacks Investment Research
Although MercadoLibre has a strong foothold in the online retail market of Latin America, rising competitive pressure from the e-commerce giant Amazon, which is making strong efforts to expand its presence in LATAM, is concerning. MELI also faces strong competition from the retail behemoth Walmart (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wmt#NYSE">WMT</a>), which is making good progress in the region, especially in Mexico.
Market uncertainties, high inflation, recessionary fears and weakening macro conditions are headwinds for MercadoLibre.
Margins are currently under pressure due to increased investments in free shipping, loyalty programs, and improvement in customer services, marketing and chargebacks, as well as higher maintenance, hosting and fraud prevention.
Against this backdrop, the question that arises is - How should investors play the MELI stock? Are a strong e-commerce business, growing fintech business and expanding logistics operations enough to jump into the stock or should investors worry about the headwinds surrounding the company&#39;s prospects?
<h2>MELI&#39;s Long-Term Prospects Ride on E-commerce Strength</h2>
MercadoLibre&#39;s expanding logistic operations are shaping up the growth trajectory of its e-commerce business.
Its growing efforts toward delivering enhanced user experience for buyers on the back of an expanding logistic and fulfillment network are positive. MELI has become a natural destination for buyers and sellers by building the fastest and most extensive delivery network in the region, and by offering the widest assortment.
MercadoLibre&#39;s latest introduction of robotics in its distribution center in Cajamar, remains noteworthy. It intends to deploy more than 300 robots by the end of this year. These robots will manage tasks like transporting shelves containing products from storage areas, which will optimize processing time by 20% and increase total storage capacity by up to 15% per square meter. These robots are capable of handling up to 20,000 items and 2,500 shelves per day, helping automate repetitive tasks like product sorting.
The company is also gaining traction with its MELI Delivery Day, which helps in the reduction of its last-mile delivery costs. With the option of MELI Delivery Day, several deliveries at a single address can be made on a single drop.
MercadoLibre introduced a concept called slower shipment service with its SLOW in order to bring flexibility to its logistic operations. SLOW offers shipping options for buyers who opt for slower shipping options. With SLOW shipments, the shipping window becomes larger and more flexible for MELI.
The company&#39;s strong efforts to expand outside of LATAM, especially in the United States, are noteworthy. In the quarter ending in June, MELI launched a fulfillment center in Texas to bring U.S. sellers into its ecosystem in order to boost the assortment of products for customers in Mexico.
On the back of this move, customers in north Mexico are receiving their orders from the United States within a couple of days for free.
In addition to logistics initiatives, MELI&#39;s efforts to improve product selection are driving growth across verticals, particularly fashion, consumer electronics, apparel and sports categories. It has integrated standardized filters across brands and sellers on its commerce platform.
Growing momentum across the MELI+ loyalty program is a major positive. The company remains optimistic about the impacts of MELI+ on future growth and customer retention as the user base continues to scale. MercadoLibre has observed that customers who enroll in the program increase their spending and buying frequency and shop across more categories than prior to enrollment.
<h2>Fintech Momentum Drives MELI&#39;s Growth</h2>
Solid momentum in MercadoLibre&#39;s Mercado Pago fintech platform and its well-performing credit business are major positives.
MercadoLibre&#39;s strong efforts to deliver an enhanced experience to Mercado Pago users are positive. Strength in assets under management and the Mercado Pago credit card is crucial for boosting user engagement of Mercado Pago.
The company is leveraging its rich data to cross-sell in the LATAM region and bolster its fintech business. The data also enables MELI to have a better view of credit risks and operate a business that matches the lowest cost-to-serve in the region.
<h2>Solid Projections Bode Well For MELI</h2>
MercadoLibre&#39;s long-term prospects are expected to benefit from strengthening commerce and fintech businesses. Its leading position in LATAM as an e-commerce and fintech company is anticipated to instill investor optimism in the stock.
The Zacks Consensus Estimate for 2024 is pegged at $20.58 billion, indicating year-over-year growth of 42.2%. The consensus mark for 2024 earnings stands at $35.79 per share, suggesting a year-over-year rise of 83.9%. Earnings estimates have moved north by 1.7% over the past seven days.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/56/79013.jpg?v=1255792089" style="border-style:solid; border-width:1px" />
Image Source: Zacks Investment Research
<h2>MecadoLibre Stock Overvalued Right Now</h2>
The MELI stock is not so cheap, as the Value Score of C suggests a stretched valuation at this moment.
MELI is trading at a premium, with a forward 12-month Price/Sales of 4.49X compared with the industry&#39;s average of 1.72X.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/5c/78996.jpg?v=1271081349" style="border-style:solid; border-width:1px" />
Image Source: Zacks Investment Research
<h2>Final Note</h2>
MercadoLibre&#39;s leading position in Latin America&#39;s e-commerce market, a growing footprint in the fintech domain and a strong logistic network are the key catalysts despite a stretched valuation.
However, challenging macroeconomic conditions, persistent inflation and intensifying competition are concerning for the stock.
Hence, existing investors may consider holding their positions in the stock, but new investors should exercise caution, potentially waiting for a more favorable entry point. MercadoLibre currently has a Zacks Rank #3 (Hold).
<a href="https://www.zacks.com/stock/news/2340752/meli-stock-up-62-9-in-a-year-can-e-commerce-strength-fuel-growth?cid=CS-BENZ-FT-analyst_blog|most_popular_stocks-2340752">To read this article on Zacks.com click here.</a>

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MELI Stock Up 62.9% in a Year: Can E-commerce Strength Fuel Growth?

Bilibili Inc &#8211; ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BILI#NASDAQ">BILI</a>) shares are trading lower by 1.69% to $18.32 Wednesday afternoon, though off their session low of $17.35. Shares of U.S.-listed Chinese companies are trading lower amid a possible selloff following yesterday's strength after China's Central Bank announced a <a href="https://www.benzinga.com/markets/asia/24/09/41003814/chinese-stocks-jump-as-central-bank-unveils-major-stimulus-to-spur-economy-a-step-in-the-right-direc" target="_blank" rel="noreferrer noopener">new stimulus package</a>.
What Happened: Investors appeared to engage in profit-taking Wednesday following a strong rally Tuesday spurred by China's central bank&#8217;s aggressive monetary easing measures. 
Bilibili&#8217;s stock comes after it surged over 15% on Tuesday, buoyed by broader optimism in Chinese equities following the People's Bank of China (PBoC) announcement of significant liquidity injections and interest rate cuts.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/09/41029448/s-p-500-hits-all-time-highs-nasdaq-100-tops-20k-ahead-of-key-economic-data-whats-driving-markets">S&amp;P 500 Hits All-Time Highs, Nasdaq 100 Tops 20K Ahead Of Key Economic Data: What&#8217;s Driving Markets Wednesday?</a>
The initial rally across Chinese tech stocks, including Bilibili, was driven by the PBoC's decision to lower the reserve requirement ratio (RRR) by 50 basis points, releasing approximately 1 trillion yuan ($140 billion) into the banking system.
Additionally, the reduction in key policy rates, such as the seven-day repo and 14-day reverse repo rates, generated positive sentiment across the market as investors hoped for stronger economic recovery and improved liquidity conditions.
What Else: Pullbacks are not uncommon following large gains, as traders lock in profits before reassessing long-term positions. Bilibili, which surged alongside other Chinese tech giants like Alibaba Group Holding Ltd &#8211; ADR and JD.Com Inc, saw its gains tempered as the broader market cooled slightly after the initial wave of enthusiasm.
As a leading platform for gaming, video streaming and social media in China, Bilibili is highly dependent on consumer engagement and discretionary spending, which could take time to rebound fully, even with improved financial conditions.
Investors may also be cautious about the broader economic outlook in China, particularly concerns over the property market and global demand, which could weigh on longer-term growth prospects. While the PBoC's stimulus is a step in the right direction, some analysts caution that further fiscal measures may be needed to sustain economic momentum.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41029378/analyst-ditches-automakers-for-auto-dealers-parts-companies">Analyst Ditches Automakers For Auto Dealers, Parts Companies</a>
<h2 class="wp-block-heading">How To Buy BILI Stock</h2>
By now you're likely curious about how to participate in the market for Bilibili &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so. 
In the the case of Bilibili, which is trading at $18.21 as of publishing time, $100 would buy you 5.49 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, BILI has a 52-week high of and a 52-week low of

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Why Bilibili Stock Is Volatile Today

Citigroup analyst George Kurosawa maintains Manhattan Associates (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MANH#NASDAQ">MANH</a>) with a Neutral and raises the price target from $257 to $287.

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Citigroup Maintains Neutral on Manhattan Associates, Raises Price Target to $287

Citigroup analyst Steven Enders maintains Intapp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTA#NASDAQ">INTA</a>) with a Buy and raises the price target from $52 to $63.

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Citigroup Maintains Buy on Intapp, Raises Price Target to $63

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