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KLDiscovery Inc is a provider of technology-enabled services and software to help law firms, corporations, government agencies, and consumers solve complex data challenges. The company is engaged in providing technology-based litigation support solutions and services.

KLDiscovery Inc

News

AWIN

AERWINS Technologies Reveals Additional Staff Determination; Co. Expects To File Form 10-K In The Coming Days

Guidance

AEYE

AudioEye Sees FY24 Adj. EPS $0.38-$0.46 Vs $(0.19) Est.

AudioEye Sees Q2 2024 Adj. EPS $0.12-$0.13 Vs $(0.06) Est.

The Federal Trade Commission faced legal threats when it first considered banning employers <a href="https://www.benzinga.com/money/what-is-a-non-compete">from using non-compete contracts</a>.
The agency went ahead Tuesday and made the rule official.
What Happened: The FTC <a href="https://www.ftc.gov/news-events/news/press-releases/2024/04/ftc-announces-rule-banning-noncompetes">approved</a> a final rule that bans non-compete agreements nationwide in a 3-2 vote. Democratic commissioners — Chair Lina Khan, Rebecca Slaughter and Alvaro Bedoya — voted in favor of the new rule; Republican commissioners Melissa Holyoak and Andrew Ferguson voted against it.
Discussions on the matter have been underway for well over a year. 
The U.S. Chamber of Commerce <a href="https://www.uschamber.com/finance/antitrust/the-ftcs-noncompete-rulemaking-is-blatantly-unlawful">said</a> in January 2023 it was prepared to challenge the FTC in court over whether the ban is legal. According <a href="https://news.bloomberglaw.com/ip-law/ftc-to-issue-non-compete-ban-as-chamber-lawsuit-looms">to</a> Bloomberg News, a court challenge is in the works.
Non-competes, the Chamber <a href="https://www.uschamber.com/assets/documents/FTC-Noncompete-Comment-Letter_FINAL_04.17.23.pdf">argues</a>, benefit both employers and employees. With a non-compete clause, companies are more inclined to invest in training and holding onto employees to avoid losing trade secrets to rival firms. 
Recall the 2023 sale of Barstool Sports to Dave Portnoy, which included <a href="https://www.benzinga.com/markets/equities/24/01/36764763/dave-portnoy-barstool-sports-could-return-to-sports-betting-with-draftkings-deal-report">several non-compete clauses</a>.
The FTC insists that noncompete clauses stifle wage growth, impede entrepreneurial spirit and inhibit labor market efficiency.
The decision follows a 90-day public comment period that garnered over 26,000 responses that were overwhelmingly in support of the proposed ban on non-competes. 
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38389508/did-the-feds-strategy-pay-off-goldman-sachs-projects-steady-inflation-decline-in-20">Did The Fed&#8217;s Strategy Pay Off? Goldman Sachs Projects Steady Inflation Decline In 2024</a>
Why It Matters: Under the new rule, roughly 30 million American workers will no longer be subject to non-compete agreements. 
They&#8217;re essentially allowed to pursue new employment opportunities or embark on entrepreneurial ventures without fear of legal repercussions.
The decision is also the first time in decades that the FTC officials issued an economy-wide change regarding competition. 
FTC projects economic benefits stemming from the ban on non-competes. The rule is expected to spur the creation of over 8,500 new startups annually, while also leading to higher earnings for workers, with an average increase of $524 per year. 
The rule could potentially lower health care costs by up to $194 billion over the next decade as well, the FTC said.
Existing non-competes can remain in place for certain policymaking individuals making over a certain amount each year (constituting less than 0.75% of the workforce). 
What&#8217;s Next: The ruling is poised to have far-reaching effects on job mobility, innovation and business formation across the U.S.
Employers are prohibited from entering into new non-competes with senior executives. Additionally, employers must provide notice to workers bound by existing non-competes, informing them the agreements will no longer be enforced.
The ban on non-competes is set to take effect 120 days after its publication in the Federal Register.
Now Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38381361/us-private-sector-growth-unexpectedly-slows-in-april-marks-lowest-increase-in-4-mon" target="_blank" rel="noreferrer noopener">Private Sector Growth Unexpectedly Slows In April, Marks Lowest Increase In 4 Months: ‘Drivers Of Inflation Have Changed'</a>
Image: Shutterstock.

Government

Regulations

Non-Compete Clauses Are A Thing Of The Past, At Least For Now: FTC Issues Landmark Ban, Chamber Of Commerce Plans To Sue

Featuring leading sports champions including&nbsp;Sarah Spain, Sheryl Swoopes and more,&nbsp;the Women&#39;s Sports Audio Network will highlight and scale women&#39;s sports coverage across broadcast radio, podcasts, streaming and events

IHRT

iHeartMedia, Deep Blue Sports + Entertainment Announce New Partnership To Launch The Women's Sports Audio Network

WIIM

WFRD

Weatherford International shares are trading higher after the company reported better-than-expected Q1 financial results.

Several solar stocks including Sunrun Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>), SolarEdge Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) and Sunnova Energy International Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>) are trading lower in Tuesday&#8217;s after-hours session in sympathy with shares of Enphase Energy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>), which fell after the company reported <a href="https://www.benzinga.com/news/earnings/24/04/38391465/enphase-energy-q1-earnings-revenue-eps-come-in-below-estimates-amid-softening-us-demand">worse-than-expected quarterly results</a>.
<h1 class="wp-block-heading">What Happened With Enphase?</h1>
<ul>
<li>Q1 Revenue: $263.3 million, versus&nbsp;<a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">estimates</a>&nbsp;of $281.95 million</li>
</ul>
<ul>
<li>Q1 EPS: 35 cents, versus estimates of 40 cents</li>
</ul>
Enphase Energy&#8217;s U.S. revenue was down approximately 34% on a year-over-year basis in the first quarter, while revenues in Europe increased by approximately 70%. 
&#8220;The decline in revenue for the&nbsp;first quarter&nbsp;of 2024 compared to the&nbsp;fourth quarter&nbsp;of 2023 was the result of seasonality and a further softening in U.S. demand, while we continued to reduce shipments to manage channel inventory,&#8221; the company said. 
Enphase also issued weak guidance, which appears to be adding to the selling pressure after hours. The company guided for second-quarter revenue of $290 million to $330 million versus estimates of $350.706 million. Enphase shares were down approximately 8% at last check.
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/04/38390883/tesla-q1-earnings-highlights-ev-giant-misses-wall-street-estimates-makes-cost-cuts-invests-in-ai-sp">Tesla Q1 Earnings Highlights: EV Giant Misses Wall Street Estimates, Makes Cost Cuts, Invests In AI, Speeds Launch Of New Models</a>
<h1 class="wp-block-heading">What To Expect From RUN, SEDG and NOVA</h1>
Sunrun, SolarEdge Technologies and Sunnova Energy are all scheduled to report quarterly results in early May. 
Sunnova will report after the market close on May 1. Analysts are anticipating a loss of 73 cents per share on revenue of $194.778 million, according to <a href="http://pro.benzinga.com">Benzinga Pro.</a>
Sunrun is due to report earnings after the market close on May 8. The company is expected to report a loss of 46 cents per share and revenue of $470.894 million. 
SolarEdge is also scheduled to report earnings after the market close on May 8. Analysts are looking for a loss of $1.57 per share on revenue of $194.061 million.
See Also: <a href="https://www.benzinga.com/news/24/04/38376714/wall-streets-most-accurate-analysts-views-on-3-energy-stocks-with-over-3-dividend-yields">Wall Street&#8217;s Most Accurate Analysts&#8217; Views On 3 Energy Stocks With Over 3% Dividend Yields</a>
RUN, SEDG, NOVA Price Action:&nbsp;At publication time, Sunrun shares were down 1.07% at $10.17 after hours, SolarEdge shares were down 2.22% at $55.39 and Sunnova shares were down 1.02% at $3.88, according to&nbsp;<a href="https://benzinga.grsm.io/gxjhpowx7zks" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Photo: Andreas from Pixabay.

Earnings

After-Hours Center

Movers

ENPH

NOVA

SEDG

Why Sunrun, SolarEdge, Sunnova Energy Shares Are Moving Lower After Hours

Prior to this authorization, 224,852&nbsp;shares remained available to repurchase under the existing program.&nbsp; Combined with the shares authorized today, the total 2.22 million 2&nbsp;shares available for repurchase represent approximately&nbsp;11.2%&nbsp;of the Company&#39;s issued and outstanding shares of common stock as of April 23, 2024.&nbsp;

Buybacks

WSBF

Waterstone Financial Board Authorizes Repurchase Of Up To An Additional 2M Shares Of Common Stock

West Fraser Timber (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFG#NYSE">WFG</a>) reported quarterly earnings of $0.42 per share which missed the analyst consensus estimate of $0.46 by 8.7 percent. The company reported quarterly sales of $1.627 billion which beat the analyst consensus estimate of $1.465 billion by 11.03 percent. This is the same as the same period last year.

Earnings Beats

Earnings Misses

West Fraser Timber Q1 2024 GAAP EPS $0.42 Misses $0.46 Estimate, Sales $1.627B Beat $1.465B Estimate

EastGroup Properties Sees Q2 2024 FFO $1.99-$2.07 Vs $2.06 Est.

EastGroup Properties Sees FY24 FFO $8.17-$8.37 Vs $8.32 Est.

Baker Hughes Says 2024 Has Gotten Off To A Good Start For Company; Says Solid Q1 Results Put It On A Path Toward Achieving Full-year Guidance

Agree Realty Sees FY24 AFFO $4.10-$4.13 Vs $4.07 Est.

International Business Machines Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>), will be reporting its first-quarter earnings on Wednesday. Wall Street expects $1.59 in EPS and $14.6 billion in revenues as the company reports <a href="https://www.benzinga.com/calendars/earnings?tickers=IBM">after market hours</a>.
IBM stock is up over 45% in the past year, and has risen 11.75% YTD. IBM stock is being propelled by its rapid product deployment, focused attention on AI, and robust cash flows.
As investors prepare for IBM&#8217;s upcoming earnings report, insights from BofA Securities shed light on the company&#8217;s trajectory and potential.
<h2 class="wp-block-heading">The IBM Analyst</h2>
BofA Securities&#8217; analyst Wamsi Mohan maintains a Buy rating on IBM, with a price target of $220, suggesting 20.9% upside from the current price of $181.90.
<h2 class="wp-block-heading">The IBM Investment Thesis&nbsp;Ahead Of Q1 Earnings</h2>
Mohan emphasizes IBM&#8217;s defensive investment appeal, highlighting its substantial exposure to recurring sales, robust cost-cutting strategies, and solid balance sheet.
IBM&#8217;s Continued Turnaround
Additionally, Mohan anticipates IBM&#8217;s potential for share gains and stable margins, particularly in light of its focus on enterprise AI adoption and software growth. &#8220;Longer term, we expect IBM to take share in IT spending with its Cloud and AI initiatives,&#8221; said Mohan.
Related: <a href="https://www.benzinga.com//node/38138141">IBM Will Expand Its Cloud Operations In Canada With Launch Of New Cloud Multizone Region To Open In Montreal, Quebec</a>
Mohan underscores the significance of IBM&#8217;s consulting segment, especially amidst softness in the consulting industry. Despite challenges faced by peers like Accenture PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>), he remains optimistic about IBM&#8217;s signings momentum and expects the company to maintain its guidance for the year. 
Mohan also anticipates IBM&#8217;s continued turnaround, driven by revenue growth and improvement in free cash flow.
AI Adoption At IBM
In terms of enterprise AI adoption, Mohan highlights IBM&#8217;s significant book of business related to GenAI, expecting further growth in this area. He anticipates updates on enterprise AI proof of concepts and pipeline insights in the upcoming earnings report.
Looking ahead, Mohan maintains his expectation of strong free cash flow of around $12 billion in 2024, driven by higher profitability and strategic adjustments in cash requirements.
IBM Price Action: Shares of IBM finished 0.16% higher at $182.19 on Tuesday.
Read Next: <a href="https://www.benzinga.com//node/38349204">Can Magnificent 7 Help Script Market Turnaround? Earnings Pick Up Pace With Microsoft, Meta, Alphabet And Tesla Expected This Week</a>
Photo: Shutterstock

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Previews

Analyst Ratings

Tech

Trading Ideas

IBM's Moment Of Truth As Earnings Expected To Impress With Strong AI Influence, Analyst Says

FOXO

FOXO Technologies Reveals Receipt Of Notice Of Non-Compliance With NYSE Continued Listing Requirements

Baker Hughes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) reported quarterly Adj earnings of $0.43 per share which beat the analyst consensus estimate of $0.40 by 7.5 percent. The company reported quarterly sales of $6.418 billion which beat the analyst consensus estimate of $6.368 billion by 0.78 percent. This is a 12.28 percent increase over sales of $5.716 billion the same period last year.

Baker Hughes Q1 2024 Adj EPS $0.43 Beats $0.40 Estimate, Sales $6.418B Beat $6.368B Estimate

In the preceding three months, 9 analysts have released ratings for Zions Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZION#NASDAQ">ZION</a>), presenting a wide array of perspectives from bullish to bearish.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $46.22, a high estimate of $52.00, and a low estimate of $40.00. Marking an increase of 2.85%, the current average surpasses the previous average price target of $44.94. 
<img src="https://www.benzinga.com/files/images/story/2024/1713906054_0.png" alt="price target chart" />
<h2>Exploring Analyst Ratings: An In-Depth Overview</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive Zions Bancorp. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Erika Najarian</td>
<td>UBS</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$45.00</td>
<td>$47.00</td>
</tr>
<tr>
<td>Jon Arfstrom</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$47.00</td>
<td>$46.00</td>
</tr>
<tr>
<td>Bernard von-Gizycki</td>
<td>Deutsche Bank</td>
<td>Announces</td>
<td>Hold</td>
<td>$47.00</td>
<td>-</td>
</tr>
<tr>
<td>Jon Arfstrom</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$46.00</td>
<td>$45.00</td>
</tr>
<tr>
<td>Ken Usdin</td>
<td>Jefferies</td>
<td>Lowers</td>
<td>Hold</td>
<td>$45.00</td>
<td>$47.00</td>
</tr>
<tr>
<td>Steven Alexopoulos</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$52.00</td>
<td>$49.50</td>
</tr>
<tr>
<td>Jennifer Demba</td>
<td>Truist Securities</td>
<td>Maintains</td>
<td>Hold</td>
<td>$46.00</td>
<td>$46.00</td>
</tr>
<tr>
<td>John Pancari</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$48.00</td>
<td>$47.00</td>
</tr>
<tr>
<td>Ken Zerbe</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Underweight</td>
<td>$40.00</td>
<td>$32.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Zions Bancorp. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Zions Bancorp compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Zions Bancorp's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Zions Bancorp's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/ZION/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Zions Bancorp analyst ratings.</a>
<h2>Delving into Zions Bancorp's Background</h2>
Zions Bancorporation is a regional U.S. bank with core operations that span 11 states. The bank is headquartered in Salt Lake City and does business primarily in the Western and Southwestern United States. Zions primarily focuses on providing banking services to small and midsize businesses, with the bulk of its loans focused on commercial and commercial real estate lending.
<h3>Zions Bancorp: A Financial Overview</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Revenue Challenges: Zions Bancorp's revenue growth over 3 months faced difficulties. As of 31 December, 2023, the company experienced a decline of approximately -16.27%. This indicates a decrease in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Financials sector.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of 15.73%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): Zions Bancorp's ROE excels beyond industry benchmarks, reaching 2.27%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Zions Bancorp's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of 0.13%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: Zions Bancorp's debt-to-equity ratio is below the industry average at 0.39, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>Analyst Ratings: Simplified</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ZION

What Analysts Are Saying About Zions Bancorp Stock

Advent Technologies Gets Nasdaq Notice On Late Filing Of Form 10-K

Visa, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) shares are trading higher after the reported its second-quarter financial results after the bell Tuesday. Here's a <a href="https://www.benzinga.com/pressreleases/24/04/b38389538/visa-fiscal-second-quarter-2024-financial-results">look at the highlights. </a>
The Details: Visa reported quarterly adjusted earnings of $2.51 per share which beat the analyst consensus estimate of $2.44 by 2.87%. 
Quarterly revenues came in at $8.775 billion, beating the analyst consensus estimate of $8.627 billion by 1.72% and representing a 9.89% over sales of $7.985 billion from the same period last year.
Payments volume increased 8% over the prior year on a constant-dollar basis. Service revenue was $4.0 billion, an increase of 7% over the prior year, and is recognized based on payments volume in the prior quarter. All other revenue categories are recognized based on current quarter activity. 
Data processing revenue rose 12% over the prior year to $4.3 billion. International transaction revenue grew 9% over the prior year to $3.0 billion. Other revenue of $756 million rose 37% over the prior year. Client incentives were $3.3 billion, up 12% over the prior year. 
Outlook:  Visa expects third-quarter net revenue growth in the low double-digits and earnings per share in the high end of low double-digits. 
The company currently expects full-year 2024 net revenue growth in the low double-digits and earnings per share growth in the the low-teens. 
Related News: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38363141/why-microstrategy-stock-is-climbing">Why MicroStrategy Stock Is Climbing</a>
V Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Visa shares are up 2.99% after-hours at $282.30 at the time of publication Tuesday.
Photo: Courtesy of Visa, Inc.

Visa Shares Rise After Better-Than-Expected Q2 Results

RTX Unit Raytheon Breaks Ground On $115M Expansion Of Alabama Missile Integration Facility

KLDiscovery