Jutal Offshore Oil Servs Stock (OTC: JUTOF)

Latest news for Jutal Offshore Oil Servs (OTC:JUTOF) Stock

Jutal Offshore Oil Services Ltd is an investment holding company. The company's operating segments include Fabrication of facilities and provision of integrated services for oil and gas industries, Fabrication of facilities and provision of integrated services for new energy and refining and chemical industries, and Others. It generates maximum revenue from the Fabrication of facilities and provision of integrated services for oil and gas industries segment. Geographically, it derives a majority of revenue from the United States and also has an international presence.

JUTAL OFFSHORE OIL SV ORD by Jutal Offshore Oil Service Ltd.

Jutal Offshore Oil Services Ltd

Keybanc analyst Matthew Gillmor initiates coverage on Evolent Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVH#NYSE">EVH</a>) with a Overweight rating and announces Price Target of $35.

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Keybanc Initiates Coverage On Evolent Health with Overweight Rating, Announces Price Target of $35

NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) stock has soared in 2024<a href="https://www.benzinga.com/general/entertainment/24/09/40783398/jensen-huang-added-as-much-to-his-wealth-in-2024-as-musk-bezos-gates-combined">, adding to the wealth</a> of CEO and co-founder Jensen Huang — but most days he wouldn't know it.
That's because Huang sometimes doesn't even look at the Nvidia stock price.
"Not every day, sometimes I'll look at the end of the day," Huang <a href="https://x.com/SquawkCNBC/status/1844718686835236937">revealed </a>on CNBC's "Squawk Box" Friday when asked about whether he looks at his company's stock price every day.
Huang was also asked if looking at Nvidia's stock price impacts how good or bad he feels.
"No," Huang quickly answered.
Read Also: <a href="https://www.benzinga.com/markets/24/10/41254505/jensen-huang-to-keynote-ces-2025-as-true-visionary-in-the-tech-industry-how-much-did-nvidia-stock-ri">Jensen Huang To Keynote CES 2025 As &#8216;True Visionary In The Tech Industry&#8217;: How Much Did Nvidia Stock Rise Since Last Year&#8217;s Show?</a>
Huang Remains Humble: During the unscheduled appearance on CNBC, the anchors called Nvidia "arguably the most successful company in America today," referencing the company's rising market capitalization.
Nvidia <a href="https://www.benzinga.com/news/23/05/32630114/nvidia-becomes-ninth-company-to-hit-1-trillion-market-cap-who-could-be-next-to-join-elusive-club">became a $1 trillion company</a> in May 2023 based on market capitalization, joining a limited number of public companies to hit the milestone.
It took the company less than nine months to reach a $2 trillion market capitalization after passing the $1 trillion milestone. Nvidia took even less time to go from $2 trillion to $3 trillion, hitting the milestone in 96 days and setting a new record for the short time between the two milestones.
Nvidia <a href="https://www.benzinga.com/news/24/06/39386946/microsoft-apple-step-aside-nvidia-is-now-the-most-valuable-public-company-in-the-world">briefly became the </a>world's most valuable public company earlier this year, passing Apple and Microsoft. With a current market capitalization of $3.308 trillion, Nvidia narrowly trails first-place Apple ($3.466 trillion).
Huang brushed off the notion that Nvidia's rising market capitalization was an overnight success.
"32 years," Huang said when the anchors discussed the milestones hit by Nvidia.
Huang co-founded Nvidia with Chris Malachowsky and Curtis Priem in a Denny's restaurant, which <a href="https://www.benzinga.com/general/social-media/24/03/37879478/humble-beginnings-like-nvidia-reddit-was-founded-inside-a-restaurant">provided the setting</a> for the company's concept and vision.
Today, Huang is the 11th richest person in the world worth $118 billion, as reported by <a href="https://www.bloomberg.com/billionaires/">Bloomberg</a>. The soaring price of Nvidia stock has added $73.8 billion to Huang&#8217;s wealth in 2024, marking one of the largest gains by a billionaire in the year.
NVDA Price Action: Nvidia stock trades at $134.85 on Friday versus a 52-week trading range of $39.23 to $140.76. Nvidia stock is up 180% year-to-date in 2024.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/education/24/10/41190198/if-you-invested-1-000-in-nvidia-stock-when-jensen-huang-got-company-logo-tattoo-heres-how-much-">If You Invested $1,000 In Nvidia Stock When Jensen Huang Got Company Logo Tattoo, Here&#8217;s How Much You&#8217;d Have Today</a></li>
</ul>
Photo: Shutterstock

Management

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Tech

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NVDA

Does Jensen Huang Check Nvidia Stock Price Daily?

VERB

Verb Technology Shares Resume Trade

The latest jobs report is giving Kamala Harris some much-needed momentum. In September, the U.S. economy added 254,000 jobs, a big boost beyond what economists expected. The <a href="https://www.benzinga.com/news/24/09/40807671/harris-hit-trump-with-claim-of-worst-unemployment-since-the-great-depression-during-debate-here-is-w">unemployment rate</a> also dipped to 4.1%, better than predictions that it would remain at 4.2%. With the presidential election just around the corner, this robust jobs growth might be exactly what Harris needs to strengthen her position on the economy.
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Harris and President Joe Biden have faced heat over inflation and negative consumer sentiment for months. Donald Trump, in particular, has repeatedly slammed the administration, blaming them for high prices and economic instability. But this jobs report shifts the narrative. According to Matt Colyar, an economist at Moody's Analytics, recent economic data plays a major role in how voters feel as elections approach: &#8220;That&#8217;s what people have in their minds. They don&#8217;t think about longer-running trends," he told Business Insider. This latest report, combined with the temporary resolution of the East Coast dockworkers' strike, signals positive developments that Harris can now lean on.
See Also: <a href="https://www.benzinga.com/money/62-years-old-with-1-mil-saved">I&#8217;m 62 Years Old And Have $1.2 Million Saved. Is This Enough to Retire Stress-Free?</a>
Despite the good news, Harris&#8217;s road ahead isn't smooth. A September survey by the University of Michigan showed that while consumer sentiment has improved, Americans' <a href="https://www.benzinga.com/startups/24/10/41197078/hes-just-not-very-serious-says-kamala-harris-you-dont-just-throw-around-the-idea-of-tariffs-across-t">views on the economy</a> are still largely negative. Similarly, a Pew Research Center poll from late August showed that only a quarter of Americans believe economic conditions are good or excellent, with a stark partisan divide – 41% of Democrats see the economy positively, while only 10% of Republicans share that view.
Trending:Studies show 50% of consumers think Financial Advisors cost much more than they do —<a href="https://www.benzinga.com/money/money-pickle"> to debunk this, this company provides matching for free and a complimentary first call with the matched advisor.</a>
Harris has faced criticism for the 2021 American Rescue Plan, which some blame for contributing to inflation. However, economists point out that inflation was driven by many factors, including supply chain disruptions. The Biden administration, seizing the positive jobs report, stated that more than 16 million jobs have been created since they took office and wages are growing faster than inflation. Harris&#8217;s camp hopes this message resonates with voters as they weigh their options.
Acting Secretary of Labor Julie Su echoed this optimism, noting to Business Insider that while there's still work to be done, &#8220;We're just getting onto solid footing and we need to continue the policies and leadership that make that possible.&#8221; With economic concerns still top of mind for voters, this surprise<a href="https://www.benzinga.com/news/24/09/40724455/peter-schiff-says-illusion-of-a-strong-labor-market-fading-faster-than-kamala-harris-post-convention"> jobs report</a> could be the boost Harris needed to stay competitive.
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<li><a href="https://www.benzinga.com/money/irs-finalizes-10-year-rule-adv">IRS Finalizes 10-Year Rule For Retirement Withdrawals, Making Things &#8216;Even More Insanely Complicated&#8217;</a></li>
<li>Can you guess how many retire with a $5,000,000 nest egg? &#8211;<a href="https://www.benzinga.com/money/retire-5mil-nest-egg"> How does it compare to the average?</a></li>
</ul>

Personal Finance

Surprise Jobs Report Adds 254,000 Jobs – Why It's Good News For Kamala Harris

Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) stock is moving on volatility Friday following recent stimulus concerns. Alibaba and other Chinese stocks traded on U.S. exchanges are predominantly owned by foreign investors, who may quickly respond to fluctuations <a href="https://www.benzinga.com/news/24/10/41235636/whats-going-on-with-alibaba-stock-tuesday">in the market.</a>
What To Know: Investors were left unsatisfied on Tuesday after China's National Development and Reform Commission (NDRC) chairman Zheng Shanjie announced stimulus measures that failed to live up to expectations.
Investors had anticipated bold stimulus measures to boost the country&#8217;s struggling economy. The announced measures included a 100 billion yuan investment plan for 2025 by the end of this month and a separate 100 billion yuan for infrastructure projects. This announcement triggered market volatility, possibly erasing earlier gains that had followed the Chinese Central Bank&#8217;s announcement.
Prior to the week-long public holiday <a href="https://www.benzinga.com/news/24/09/41028173/whats-going-on-with-nio-stock-wednesday">known</a> as National Golden Week, China's Central Bank had introduced a series of stimulus measures, including a 0.5 percentage point cut to the reserve requirement ratio, a reduction in the loan prime rate and deposit rates by 0.2 to 0.25 percentage points and a decrease in the seven-day reverse repurchase rate to 1.5%.
Currently, China&#8217;s Ministry of Finance is anticipated to hold a press conference <a href="https://www.cnbcafrica.com/2024/chinas-whatever-it-takes-moment-investors-hope-for-hundreds-of-billions-in-new-stimulus/">on Saturday</a>, offering another chance for investors to receive the decisive stimulus measures they hope for.
How To Buy Alibaba Shares
By now you're likely curious about how to participate in the market for Alibaba Gr Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) &#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 Alibaba Gr Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), which is trading at $109.29 as of publishing time, $100 would buy you 0.91 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.
Related Link: <a href="https://www.benzinga.com/news/24/10/41282666/what-happened-with-amd-stock-today">What Happened With AMD Stock Today?</a>
BABA Price Action: At the time of publication, Alibaba stock is trading 1.27% higher at $110.64, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: Photo via Shutterstock

Movers

BABA

What's Going On With Alibaba Shares Friday?

Verb Technology Shares Halted On Circuit Breaker To The Upside, Stock Now Up 28.8%

STFS

Star Fashion Culture Holdings Shares Halted On Circuit Breaker To The Downside

IPOs

Star Fashion Culture Holdings Shares Open For Trade At $3.75/Share; IPO Priced At $4/Share On 2.125M Shares

Keybanc analyst Matthew Gillmor initiates coverage on Encompass Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EHC#NYSE">EHC</a>) with a Overweight rating and announces Price Target of $115.

Keybanc Initiates Coverage On Encompass Health with Overweight Rating, Announces Price Target of $115

Unity Bancorp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/unty#NASDAQ">UNTY</a>) came out with quarterly earnings of $1.07 per share, beating the Zacks Consensus Estimate of $0.97 per share. This compares to earnings of $0.97 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 10.31%. A quarter ago, it was expected that this bank holding company would post earnings of $0.94 per share when it actually produced earnings of $0.93, delivering a surprise of -1.06%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Unity Bancorp, which belongs to the Zacks Banks - Northeast industry, posted revenues of $27.66 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 4.79%. This compares to year-ago revenues of $25.58 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
Unity Bancorp shares have added about 11.4% since the beginning of the year versus the S&amp;P 500&#39;s gain of 21.2%.
<h2>What&#39;s Next for Unity Bancorp?</h2>
While Unity Bancorp has underperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Unity Bancorp: mixed. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.98 on $26.91 million in revenues for the coming quarter and $3.80 on $104.47 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Northeast is currently in the top 39% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Orange County Bancorp, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/obt#NASDAQ">OBT</a>), has yet to report results for the quarter ended September 2024.
This company is expected to post quarterly earnings of $1.43 per share in its upcoming report, which represents a year-over-year change of -11.2%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Orange County Bancorp, Inc.&#39;s revenues are expected to be $26.6 million, up 3.4% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2349133/unity-bancorp-unty-surpasses-q3-earnings-and-revenue-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2349133">To read this article on Zacks.com click here.</a>

Earnings

Earnings Beats

Small Cap

Markets

UNTY

Unity Bancorp Surpasses Q3 Earnings and Revenue Estimates

Hewlett Packard Enterprise Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) shares are trading higher on Friday. BofA Securities analyst Wamsi Mohan maintained a Buy rating <a href="https://www.benzinga.com/quote/HPE/analyst-ratings" target="_blank" rel="noreferrer noopener">at a price target of $24.00</a>.
On Thursday, at HPE&#8217;s AI Day, the company introduced the industry&#8217;s first 100% fanless direct liquid cooling system, enhancing energy and cost efficiency <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41280032/hpe-announces-industrys-first-100-fanless-direct-liquid-cooling-systems-architecture" rel="noreferrer noopener">for large-scale AI deployments</a>.
Antonio Neri, president and CEO of HPE, stated, &#8220;The architecture we unveiled today uses only liquid cooling, delivering greater energy and cost-efficiency advantages than the alternative solutions on the market. In fact, this direct liquid cooling architecture has the potential to yield a 90% reduction in cooling power consumption as compared to traditional air-cooled systems.&#8221;
Apart from this, the company unveiled the HPE ProLiant Compute XD685, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41278542/hpe-launches-new-purpose-built-solutions-powered-by-amd-to-accelerate-training-for-large-complex-a" rel="noreferrer noopener">optimized for AI model training</a>.
Equipped with 5th Gen Advanced Micro Devices, Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) EPYC processors and AMD Instinct MI325X accelerators, it enables fast, secure, and energy-efficient AI clusters for tasks such as large language models, natural language processing, and multi-modal training.
The analyst says that the key takeaway from the event is that Hewlett Packard&#8217;s strong engineering legacy in supercomputing and 100% direct liquid cooling (DLC) positions it as a differentiator.
As data centers increasingly adopt liquid cooling for greater power efficiency and higher-density solutions, HPE stands to benefit, adds the analyst.
The analyst sees upside potential from Juniper synergies, structurally higher margins, and growth opportunities in AI.
Related: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40904501/hewlett-packard-analyst-gives-5-reasons-to-be-bullish-as-juniper-deal-promises-to-s" rel="noreferrer noopener">Hewlett Packard Analyst Gives 5 Reasons To Be Bullish As Juniper Deal Promises To &#8216;Shift Focus&#8217;</a>
Investors can gain exposure to the stock through&nbsp;First Trust S&amp;P 500 Diversified Dividend Aristocrats ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KNGZ#NASDAQ">KNGZ</a>) and&nbsp;First Trust Exchange-Traded Fund First Trust S&amp;P 500 Diversified Free Cash Flow ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCFY#NYSE">FCFY</a>).
Price Action: HPE shares are up 0.92% at $20.73 at the last check Friday.
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41231786/hewlett-packard-analyst-is-bullish-ahead-of-ai-day-14b-juniper-networks-deal" target="_blank" rel="noreferrer noopener">Hewlett Packard Analyst Is Bullish Ahead Of AI Day, $14B Juniper Networks Deal</a></li>
</ul>

Analyst Color

Equities

Large Cap

Contracts

FCFY

KNGZ

What's Going On With Hewlett Packard Enterprise Shares Friday?

Barclays analyst Christine Cho maintains SolarEdge Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) with a Underweight and lowers the price target from $26 to $17.

SEDG

Barclays Maintains Underweight on SolarEdge Technologies, Lowers Price Target to $17

WIIM

CNFR

CZNB

EWBC

FCNCA

FFWM

FITB

FNWD

FULT

GBCI

HBAN

HSBC

HTGC

SCHW

TROW

Shares of banking and financial services stocks are trading higher following better-than-expected financial results from JPMorgan Chase and Wells Fargo.

Top Wealth Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWG#NASDAQ">TWG</a>) shares are trading higher on Friday after the company priced its $10.8 million public offering.
The 27 million ordinary share offering which have been priced at 40 cents per share.
The public offering is expected close on October 14.
How To Buy Top Wealth Group Shares
By now you're likely curious about how to participate in the market for Top Wealth Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWG#NASDAQ">TWG</a>) &#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, 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.
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.
See Also: <a href="https://www.benzinga.com/news/24/10/41285210/tesla-stock-falls-nearly-3-in-overnight-trading-on-robinhood-after-self-driving-cybercab-unveil?itm_source=parsely-api">Tesla Stock Falls Nearly 3% In Overnight Trading On Robinhood After Self-Driving Cybercab Unveil</a>
TWG Price Action: As of Friday morning, Top Wealth Group shares are trading 200.5% higher at $6.43, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: 6690189 from Pixabay

What's Going On With Top Wealth Group Shares Friday?

The shortage of drugs like Novo Nordisk A/S' (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) Ozempic, Wegovy, and Eli Lilly And Co's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) Mounjaro and Zepbound have fueled an illicit market of counterfeit and diverted weight loss drugs, revealing an international issue that poses significant health risks.
Last week, the FDA determined the shortage of&nbsp;Eli Lilly tirzepatide injection, a glucagon-like peptide 1 (GLP-1) medication, has been resolved.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/10/41275991/eli-lilly-issues-cease-and-desist-letters-to-compounders-over-weight-loss-drug-copies-as-shortage" rel="noreferrer noopener">Eli Lilly Issues Cease-And-Desist Letters to Compounders Over Weight-Loss Drug Copies As Shortage Resolves</a>.
A recent investigation by CNBC unveiled illegal sales and drug diversion, where medications produced for foreign markets are unlawfully shipped to the U.S.
Counterfeit drugs, disguised as popular weight loss medications, have emerged as a growing problem, targeting those seeking affordable alternatives.
CNBC <a target="_blank" href="https://www.cnbc.com/2024/10/09/ozempic-underworld-black-market-obesity-drugs.html" rel="noreferrer noopener">purchased</a> what appeared to be Novo Nordisk's Ozempic from a company called Laver Beauty for a fraction of its U.S. list price.
The drug, shipped from China, arrived without proper refrigeration, raising concerns about its safety. Novo Nordisk confirmed that the product was a "diverted legitimate product" intended for the Chinese market, making it unauthorized for use in the U.S.
The company emphasized that the product's sterility could not be verified, potentially increasing patients' risk of infection.
Eli Lilly echoed similar concerns about counterfeit medications infiltrating the market.
Authorities in the U.K. have faced a surge in counterfeit weight loss drugs, with hundreds of Ozempic pens seized. Criminals exploit the high demand for these drugs by repurposing counterfeit insulin pens and labeling them as popular GLP-1 treatments.
Andy Morling, from the U.K.'s Medicines and Healthcare Products Regulatory Agency, noted that criminals often step in when supply and demand imbalances occur, making these drugs a prime target for counterfeiting.
U.S. Customs and Border Protection (CBP) has been actively intercepting counterfeit and diverted drugs at key entry points.
Sal Ingrassia, a CBP port director, stated that weight loss drugs such as Ozempic and Wegovy are frequently seized at ports of entry. Despite aggressive enforcement, many of these fake drugs make their way to U.S. customers, often ordered online or through social media platforms.
CBP seizures of weight loss medications are expected to double this year, highlighting the escalating threat.
In response, pharmaceutical companies are working closely with law enforcement and cybersecurity firms like BrandShield to shut down illegal websites and social media accounts selling counterfeit drugs.
While pharmaceutical companies like Novo Nordisk and Eli Lilly continue to innovate with treatments like retatrutide, criminals have already begun selling fake versions of the drug, which is still in clinical trials.
Price Action: NVO stock is up 2.16% at $120.07, and LLY stock is up 1.53% at $924.65&nbsp;at the last check Friday.
Read Next:
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<li><a href="https://www.benzinga.com/news/earnings/24/10/41289783/jpmorgan-chase-q3-earnings-investment-banking-revenue-soars-29-raises-fy24-net-interest-income-outl" target="_blank" rel="noreferrer noopener">JPMorgan Chase Q3 Earnings: Investment Banking Revenue Soars 29%, Largest Bank Raises Net Interest Income Outlook</a></li>
</ul>
Image via Shutterstock

Biotech

Health Care

General

Criminal Networks Cash In On Demand For Weight Loss Drugs, Authorities Say

China&#39;s economy has struggled in recent months amid a depressed level of consumer confidence and a devastating housing bust coupled with weak credit demand. Late in September&mdash;just after the U.S. Federal Reserve announced its first federal funds rate cut in several years&mdash;the People&#39;s Bank of China unveiled a three-part monetary stimulus program to reduce reserve requirement ratios (the amount of cash banks are required to keep on hand), mortgage rates and down payment requirements, and more.
Some economists view monetary easing of this kind as limited in its potential impact during an economic downturn. Still, the immediate response of Chinese markets to the announcement has been a flurry of activity and a significant rally. The CSI 300, an index representing 300 of the largest publicly traded, Chinese-listed companies, is up by nearly 24% in the last month. Following the stimulus reveal, it had its&nbsp;single best day in nearly two decades.
A dip in Hong Kong stocks late in September prompted investors to speculate about how long the rally would continue. Indeed, consensus seems to be growing that a sharp reversal may be in store at some point if the stimulus measures are deemed to be ineffective overall. Still, there are several companies investors may wish to focus on during the boom.
<h2>NIO: Jolt for EV Maker</h2>
The Chinese government&#39;s stimulus package has helped to propel EV maker NIO Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nio#NYSE">NIO</a>) upward by more than 55% in the last month, though the stock remains down more than a quarter overall in the last year.
Besides the boost tied with the broader Chinese equities space, NIO has experienced added momentum thanks to its late-September announcement of a RMB3.3 billion investment in its NIO China subsidiary from external investors, alongside a commitment of an additional RMB10 billion that NIO itself will make.
Still, investors should exercise caution when it comes to NIO shares. Despite surging in recent weeks, the company faces stiff competition domestically and unfavorable tariffs in other parts of the world that are likely to limit its ability to undercut the Model Y from competitor Tesla Inc.&nbsp;with its new affordable ONVO L60 offering.
<h2>TME: Earnings and Cash Flow Growth</h2>
Tencent Music Entertainment Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tme#NYSE">TME</a>), the online music and entertainment streaming platform provider, has massive earnings growth potential. Analysts project 27.4% earnings growth this year, far ahead of the wider industry.&nbsp;The company already posted a 33.1% year-over-year improvement in net profit&nbsp;in the latest quarter, driven by an increase in online music subscribers and improved retention rates.
Tencent has coupled this rapid bottom-line growth with steady improvement in cash flow as well, allowing the company to sustainably expand its operations. If China&#39;s stimulus program is effective at boosting consumer spending, Tencent is likely to be a major recipient.
<h2>MCHI: Broad Market Coverage and Attractive Liquidity</h2>
Investors looking to lean toward Chinese equities more broadly and without focusing on a single firm may look to the iShares MSCI China ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mchi#NASDAQ">MCHI</a>). This fund provides wide exposure to nearly 600 large-cap Chinese firms.
While it is not the cheapest broad-based China-focused ETF based on expense ratio, it provides superior liquidity and a strong asset base relative to some of its less-expensive competitors.
MCHI is up by more than a third in the last year, sharply outpacing the CSI 300 during that same period.
<h2>Impact of Additional Stimulus Measures</h2>
China&#39;s government spending is currently below budget&nbsp;due to minimal capital investment projects and a lack of government revenue. In response, the government is&nbsp;reportedly considering issuing about $284 billion in special sovereign bonds in the coming weeks. This would likely further boost the Chinese economy, particularly in&nbsp;household consumption and at the local government level.
In the meantime, China&#39;s economy is not out of trouble just yet. Investors should be cautious about the rapid uptick in many Chinese equities and keep in mind that the rally may be short-lived. Still, some individual companies&mdash;and even the broader Chinese market&mdash;may still offer room for growth. Indeed, some non-Chinese companies also stand to benefit from a continued rally thanks to this stimulus package.
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/key-stocks-to-ride-chinas-stimulus-driven-growth/">3 Key Stocks to Ride China&#39;s Stimulus-Driven Growth</a>&quot; first appeared on MarketBeat.

Asia

Entertainment

Government

Sector ETFs

Bonds

Offerings

Federal Reserve

ETFs

MCHI

3 Key Stocks to Ride China's Stimulus-Driven Growth

Barclays analyst Raimo Lenschow maintains Sprout Social (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPT#NASDAQ">SPT</a>) with a Overweight and lowers the price target from $48 to $38.

Barclays Maintains Overweight on Sprout Social, Lowers Price Target to $38

<a href="https://www.sec.gov//Archives/edgar/data/1566610/000149315224040836/ex99-1.htm" title="https://www.sec.gov//Archives/edgar/data/1566610/000149315224040836/ex99-1.htm">https://www.sec.gov//Archives/edgar/data/1566610/000149315224040836/ex99-1.htm</a>
<a href="https://www.sec.gov//Archives/edgar/data/1566610/000149315224040836/ex99-1.htm" title="https://www.sec.gov//Archives/edgar/data/1566610/000149315224040836/ex99-1.htm">https://www.sec.gov//Archives/edgar/data/1566610/000149315224040836/ex99-1.htm</a>

Verb Technology CEO Rory Cutaia Said On Oct. 10, Assuming All Three Of These Businesses Are Worth Zero – No Value Whatsoever – And We Trade On Nothing More Than Liquidation Value Cash In The Bank – We Should Be Trading At More Than $22 Per Share Right Now

Symbotic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYM#NASDAQ">SYM</a>) shares are trading higher Friday on continued upward momentum. The company announced on Thursday that it entered into agreements with Walmart de México y Centroamérica to implement its warehouse automation systems<a href="https://www.benzinga.com/pressreleases/24/10/g41268313/symbotic-announces-agreement-to-implement-multiple-industry-leading-warehouse-automation-systems-f"> in two of the retailer&#8217;s locations.</a>
The Details:
Symbotic shares climbed more than 18% Thursday after the company said it will deploy its AI-powered robotic and software end-to-end systems at two Walmart distribution centers in Mexico. The first site is currently breaking ground and marks the largest system Symbotic has deployed as a single-phase project.
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&#8220;We are pleased to welcome Walmex as a customer and to implementing state-of-the-art automation within its Mexican network that will enhance productivity in both its distribution centers and stores,&#8221; said Rick Cohen, Chairman and Chief Executive Officer of Symbotic.
According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Symbotic shares are climbing on heavy volume Friday and trading well-above the stock&#8217;s 50-day moving average of $22.41.
<h3 class="wp-block-heading">Will SYM Stock Go Up?</h3>
When trying to assess whether or not Symbotic will trade higher from current levels, it's a good idea to take a look at analyst forecasts. 
Wall Street analysts have an average 12-month price target of $38 on Symbotic. The Street high target is currently at $60 and the Street low target is $10. Of all the analysts covering Symbotic, 9 have positive ratings, 2 have neutral ratings and 3 have negative ratings.
In the last month, one analyst has adjusted price targets. Here's a look at recent price target changes <a href="https://www.benzinga.com/quote/SYM/analyst-ratings">[Analyst Ratings]</a>. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Symbotic have performed in recent history. 
Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Symbotic is 38.74% down year-to-date. The average analyst price target suggests the stock could have further upside ahead.
For a broad overview of everything you need to know about Symbotic, visit <a href="https://www.benzinga.com/quote/SYM">here</a>. If you want to go above and beyond, there's no better tool to help you do just that than <a href="https://pro.benzinga.com/">Benzinga Pro</a>. Start your free trial today.
SYM Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Symbotic shares are up 8.69% at $29.90 at the time of publication Friday.
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Image: Courtesy of Symbotic, Inc.&nbsp;

What's Going On With Symbotic Stock?

Barclays analyst Raimo Lenschow maintains ServiceNow (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) with a Overweight and raises the price target from $890 to $980.

Barclays Maintains Overweight on ServiceNow, Raises Price Target to $980

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