Latest news for  (KLTHF) Stock

East Buy Holding Ltd is a live-streaming platform that focuses on selecting premium products for customers. The company operates in three reportable segments which include Private Label Products and Livestreaming E-Commerce, College Education, and Institutional Customers. The majority of its revenue comes from private label products and direct e-commerce segment, i.e. direct online commerce with private label products sold to individual customers and providing services. commission service.

Government

News

Penny Stocks

Regulations

Small Cap

Tech

Media

DOYU

HUYA

KLTHF

TCEHY

Tencent Cuts Stake In This Chinese Edtech Firm

KOOLEARN TECH HLDG LTD by Koolearn Technology Hldg Ltd.

East Buy Holding Ltd

Vanda Pharmaceuticals Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vnda#NASDAQ">VNDA</a>) announced that the FDA issued a complete response letter&nbsp;to its new drug application (NDA) seeking approval for its pipeline candidate, tradipitant for the treatment of symptoms in gastroparesis.
Shares of the company were down 6.1% on Sept. 19 following the announcement of the news.
Marked by delayed gastric emptying, gastroparesis is a serious condition that slows down the stomach&#39;s ability to empty its contents. The FDA has not approved any effective medicine for treating gastroparesis in more than 40 years.
Year to date, shares of Vanda have increased 10.2% compared with the industry&#39;s rise of 0.4%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/4a/78570.jpg?v=840412258" />
Image Source: Zacks Investment Research
<h2>More on FDA&#39;s CRL for VNDA&#39;s Tradipitant</h2>
Per the CRL, the FDA called for Vanda to conduct additional studies on tradipitant with a design that was inconsistent with the advice of key experts in the field and not appropriate based on the scientific understanding of the disease.
Also, per management, the FDA delayed its decision by more than 185 days and failed to meet the requirements specified by the Food Drug and Cosmetic Act (FDCA).
Notably, the FDCA requires that the FDA review an NDA and provide either an approval or a possible hearing within 180 days of the filing. The FDA failed to do either.
Per the company, it had time and again asked the FDA to hold an advisory committee meeting to discuss the NDA for tradipitant while the regulatory body declined.
Several patients treated with tradipitant have now filed a Citizen Petition pleading with the regulatory body to approve tradipitant for the treatment of gastroparesis.
<h2>VNDA&#39;s Development Plans for Tradipitant</h2>
Despite the FDA declining to approve tradipitant for treating symptoms in gastroparesis, the company will continue to pursue the marketing approval for tradipitant in the given indication.
Apart from gastroparesis, VNDA is also developing tradipitant for preventing vomiting induced by motion sickness.
In May 2024, the company announced positive data from a second phase III study that investigated tradipitant for preventing vomiting induced by motion sickness.
Vanda plans to submit an NDA for tradipitant to the FDA for the treatment of motion sickness later in 2024.
<h2>Zacks Rank &amp; Stocks to Consider</h2>
Vanda currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the biotech sector are Illumina, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ilmn#NASDAQ">ILMN</a>), Krystal Biotech, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/krys#NASDAQ">KRYS</a>) and Fulcrum Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fulc#NASDAQ">FULC</a>), each sporting a Zacks Rank #1 (Strong Buy) at present.
In the past 60 days, estimates for Illumina&#39;s 2024 earnings per share have moved up from $1.84 to $3.63. Earnings per share estimates for 2025 have improved from $3.22 to $4.43. Year to date, shares of ILMN have lost 3.5%.
ILMN&#39;s earnings beat estimates in each of the trailing four quarters, with the average surprise being 463.46%.
In the past 60 days, estimates for Krystal Biotech&#39;s 2024 earnings per share have increased from $2.09 to $2.38. Earnings per share estimates for 2025 have improved from $4.33 to $7.31. Year to date, shares of KRYS have risen 48.7%.
KRYS&#39; earnings beat estimates in three of the trailing four quarters while missing on the remaining occasion, with the average surprise being 45.95%.
In the past 60 days, estimates for Fulcrum Therapeutics&#39; 2024 loss per share have narrowed from $1.33 to 28 cents. Loss per share estimates for 2025 have narrowed from $1.71 to $1.14. Year to date, shares of FULC have plunged 48.9%.
FULC&#39;s earnings beat estimates in each of the trailing four quarters, with the average surprise being 393.18%.
<a href="https://www.zacks.com/stock/news/2339326/vnda-stock-down-as-fda-rejects-nda-for-tradipitant-in-gastroparesis?cid=CS-BENZ-FT-analyst_blog|company_news_medical_sector-2339326">To read this article on Zacks.com click here.</a>

Biotech

Earnings

Earnings Beats

Management

Markets

Analyst Ratings

Trading Ideas

General

FULC

ILMN

KRYS

VNDA

VNDA Stock Down as FDA Rejects NDA for Tradipitant in Gastroparesis

Sable Offshore Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOC#NYSE">SOC</a>) shares are trading lower by 21.3%% to $22.26 Friday afternoon after the company announced a $150 million private placement of <a href="https://www.benzinga.com/pressreleases/24/09/b40954952/sable-offshore-corp-announces-150-million-private-placement-of-shares-and-update-on-warrant-exerci">7.50 million shares</a>.
The private placement is set to close on September 23, pending standard conditions. The funds will be used for capital expenditures, working capital, and general corporate purposes.
Additionally, as of September 18, 2024, Sable has raised $64.8 million from the exercise of warrants, issuing 5.6 million shares. These funds will also be used for similar corporate purposes. 
TD Cowen, Jefferies and Intrepid Partners are handling the placement.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/09/40962983/wall-street-falls-on-triple-witching-day-feds-waller-pushes-gold-to-fresh-record-highs-fedex-plu">Wall Street Falls On Triple Witching Day, Fed&#8217;s Waller Pushes Gold To Fresh Record Highs, FedEx Plummets: What&#8217;s Driving Markets Friday?</a>
<h2 class="wp-block-heading">How To Buy SOC Stock</h2>
Besides going to a brokerage platform to purchase a share &#8211; or fractional share &#8211; of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument. 
For example, in Sable Offshore&#8217;s case, it is in the Energy sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, SOC has a 52-week high of $28.67 and a 52-week low of $10.11.

Why Sable Offshore (SOC) Stock Is Getting Hammered

A win by former President Donald Trump in the<a href="https://www.benzinga.com/topic/2024-election"> 2024 presidential election </a>could raise concerns about conflicts of interest related to his ownership of a media company.
What Happened: Trump i<a href="https://www.benzinga.com/news/24/09/40939390/trump-media-technology-group-stock-slides-as-lockup-expiration-looms-whats-going-on">s the co-founder</a> of Trump Media &amp; Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>), a media company that owns the Truth Social platform and other media assets.
While investors are worried that Trump<a href="https://www.benzinga.com/general/social-media/24/09/40860859/trump-media-technology-shares-surge-former-president-says-hes-not-selling-or-leaving-truth-s"> might sell his shares</a> after a lockup expiration, ethics watchdogs are concerned about who could be buying the shares ahead of the 2024 election or if Trump returns to the White House.
According to a report from Politico, purchasers of the stock could include foreign actors or people seeking corporate interests.
"It's a huge potential conflict of interest," Project on Government Oversight Director of Government Affairs Dylan Hedtler-Gaudette said, as <a href="https://www.politico.com/news/2024/09/19/trump-social-media-stake-ethics-00180038">reported</a> by Politico.
Hedtler-Gaudette said ethics concerns over businesses connected to Trump are not new, but having a public company and being president could amplify the concerns.
Trump's media company has set up rules that he<a href="https://www.benzinga.com/m-a/23/08/33878846/trump-to-maintain-control-of-media-company-if-he-sells-majority-goes-to-jail-or-becomes-president"> will still maintain control</a> of the company if he goes to prison or becomes president. Trump will also keep control if he sells his stock, as long as he keeps his special shares that come with voter control.
Ownership of a media company could have ethics watchdogs on alert if Trump does return to the White House.
"This is a potentially dangerous situation," former White House ethics lawyer Richard Painter told Politico. "The government shouldn't be controlling the press (and) that's where we are in social media."
Trump recently said he created Trump Media after being banned from other social media platforms. The venture arose after he began using traditional press releases to engage with his supporters, a strategy that quickly proved successful.
One potential concern is if Trump opts to bypass traditional media press releases or mainstream outlets, choosing instead to communicate exclusively through Truth Social or other companies he owns.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent092024">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: While most presidents haven't owned stocks while in office or put their investments into blind trusts to avoid conflicts of interest, it doesn't appear Trump will be changing his tune about DJT shares anytime soon.
Trump's ownership of hotels were previously involved in ethics concerns due to how government officials were billed for their use while Trump was in office.
According to the report, those seeking favors from Trump or hoping for him to make decisions or publicly support certain positions may perceive increased chances of success if they purchase shares in his company. Members of Congress <a href="https://www.benzinga.com/general/social-media/24/08/40475137/djt-stock-hits-new-lows-since-trump-media-companys-public-debut-heres-how-much-marjorie-tayl">who own DJT shares</a> could also see their prominence rise if Trump returns to the White House.
With Trump's continued ownership of Trump Media &amp; Technology Group, there remains multiple ethics concerns at play if he returns to the White House. The president owning a media company that could profit from his exclusive access, coupled with individuals publicly buying shares in Trump&#8217;s company to demonstrate loyalty, could emerge as significant issues moving forward.
DJT Price Action: Trump Media &amp; Technology shares are down 6.7% to $13.70 on Friday. The stock hit new post-SPAC merger lows of $13.50 earlier in the day. The stock is down 19% year-to-date in 2024.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/social-media/24/09/40943414/donald-trump-can-cash-out-his-trump-media-technology-stock-keep-company-control-heres-how-ma">Donald Trump Can Cash Out His Trump Media &amp; Technology Stock, Keep Company Control: Here&#8217;s How Many Shares He Owns</a></li>
</ul>
Photo: Shutterstock

Politics

Movers

Trump's Stake In Media Group Raises Ethics Concerns Ahead Of 2024 Election: Report

Shares of Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) are down 1.91% to $239.38 Friday afternoon, reversing gains from Thursday's trading session, amid this week&#8217;s unexpected 50-basis-point interest rate cut by the Federal Reserve and <a href="https://www.benzinga.com/markets/equities/24/09/40962983/wall-street-falls-on-triple-witching-day-feds-waller-pushes-gold-to-fresh-record-highs-fedex-plu">overall market weakness</a>.
The decline comes as broader concerns about economic growth and demand pressures begin to weigh on the <a href="https://www.benzinga.com/electric-vehicles">electric vehicle (EV)</a> maker's outlook.
Initial Rally On Lower Rates: Tesla stock surged on Thursday following the Federal Reserve&#8217;s decision to cut interest rates by 50 basis points at the September Federal Open Market Committee (FOMC) meeting, reducing the federal funds rate to a range of 4.75% to 5%. This larger-than-expected rate cut was welcomed by growth-oriented companies like Tesla, which stand to benefit from lower borrowing costs.
The Fed's updated Dot Plot signaled the possibility of additional rate cuts in 2024 and 2025, leading to optimism that cheaper financing would spur demand for capital-intensive goods such as electric vehicles. Lower interest rates also typically make it easier for consumers to finance big-ticket purchases like cars, further boosting demand for Tesla's vehicles.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40944143/wall-street-breaks-records-chipmakers-rally-tesla-hits-2-month-high-as-fed-cut-drives-risk">Wall Street Breaks Records Thursday, Chipmakers Rally, Tesla Hits 2-Month High As Fed Cut Drives Risk-On Mode: What&#8217;s Driving Markets Thursday?</a>
Despite Thursday&#8217;s positive market reaction, Tesla shares dropped on Friday as investors digested the broader implications of the Federal Reserve's latest projections. Several key factors contributed to the decline:
Weaker Economic Growth Outlook: The Federal Reserve revised its GDP growth forecast for 2024 down from 2.1% to 2.0%, signaling slower economic activity ahead. Tesla, which relies on strong consumer demand for its premium electric vehicles, is vulnerable to any signs of economic weakening. A slower growth environment could weigh on consumer spending and potentially reduce demand for discretionary items like cars.
Higher Unemployment Forecast: The Fed also revised its unemployment projections upward, now expecting a 4.4% jobless rate in 2024, up from the previous 4.0%. Rising unemployment could further dampen demand for Tesla's vehicles, as higher joblessness tends to constrain household budgets, particularly for large purchases like electric cars.
Read Also: <a href="https://www.benzinga.com/trading-ideas/technicals/24/09/40961610/fedex-falls-15-after-earnings-miss-bearish-signals-raise-red-flags-for-investors">FedEx Falls 15% After Earnings Miss, Bearish Signals Raise Red Flags For Investors</a>
Concerns Over Tesla's Margins: With a weakening economy, Tesla might need to lower vehicle prices or offer more incentives to maintain demand, potentially squeezing profit margins.
The company has already engaged in several rounds of price cuts throughout 2024 to stay competitive in the growing EV market, which has seen increased competition from legacy automakers and new entrants.
Inflation and Fed's Confidence in Rate Cuts: While the Fed's downward revisions of inflation forecasts for 2024 and 2025 signal a softer inflationary environment, they may also hint at a prolonged period of disinflation.
 A prolonged slowdown in inflation and economic activity could hinder Tesla's growth prospects, particularly in key markets like the U.S. and Europe, where consumer spending may decelerate.
Valuation Concerns Amid Volatility: Tesla, which is traditionally valued at high multiples compared to earnings, faces heightened volatility during periods of economic uncertainty. 
The combination of a slower economy, higher unemployment, and potential margin pressures raises questions about the sustainability of Tesla's lofty valuation. This could prompt profit-taking among investors after Thursday's rally.
Read Also: <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/09/40960886/palantir-dell-to-join-s-p-500-friday-heres-how-tesla-stock-has-performed-since-its-add">Palantir, Dell To Join S&amp;P 500 Friday: Here&#8217;s How Tesla Stock Has Performed Since Its Addition In 2020</a>
<h2 class="wp-block-heading">How To Buy TSLA Stock</h2>
Besides going to a brokerage platform to purchase a share &#8211; or fractional share &#8211; of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument. 
For example, in Tesla&#8217;s case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, TSLA has a 52-week high of $271.00 and a 52-week low of $138.80.

TSLA

What's Going On With Tesla Stock Today

Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) reportedly ruled out taking an equity stake in Woodside Energy Group Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WDS#NYSE">WDS</a>) <a href="https://www.benzinga.com//node/39879353">upcoming acquisition of Driftwood LNG in Louisiana.</a>
Colin Parfitt, head of midstream operations, told Reuters that Chevron can effectively monetize its U.S. gas without converting it to LNG.
The decision reflects the company&#8217;s earlier choice to bypass investment in U.S. LNG plant construction and sell its gas directly to the market instead.
In July 2023, Chevron executives said in an interview that the company is confident in its &#8216;buy-rather-than-build&#8217; strategy, which an S&amp;P Global <a target="_blank" href="https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/natural-gas/072023-interview-chevron-prefers-buying-us-lng-to-building-export-projects" rel="noreferrer noopener">report </a>highlighted.
During the interview, the company&#8217;s executives stated that Chevron&#8217;s U.S. LNG offtake contracts support its goal of increasing international sales of Permian Basin production, while the company will primarily leave U.S. midstream infrastructure development to third parties to focus on upstream and downstream investments.
In 2022, Chevron&nbsp;U.S.A. entered into long-term <a href="https://lngir.cheniere.com/news-events/press-releases/detail/253/cheniere-and-chevron-sign-long-term-lng-sale-and-purchase">LNG </a>sale and purchase agreements with Cheniere Energy. Notably, given the current interest rate environment, it&#8217;s interesting that Chevron chose not to invest in the construction of a U.S. LNG plant.
Recently, the Federal Reserve decided to reduce interest rates by 50 basis points leading to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40937291/bank-stocks-hit-inflection-point-after-feds-50-basis-point-cut-analyst-reveal-top-p" target="_blank" rel="noreferrer noopener">surge in optimism across major sectors</a>.
Further into the future, the Dot Plot signals the fed funds rate will drop to between 3.25% and 3.5% by the end of 2025, implying an additional 100 basis points of cuts. By the end of 2026 and the newly introduced projections for 2027, <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead" target="_blank" rel="noreferrer noopener">interest rates are expected to fall to 2.9%</a>.
It remains uncertain whether the company will alter its stance after future rate reductions as it wants the best use of its capital.
This week, Chevron Shipping Company, in partnership with Wärtsilä, disclosed that it will convert engines on six&nbsp;liquefied natural gas&nbsp;(LNG) carriers from dual-fuel to spark gas operation to cut methane&nbsp;emissions <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40941443/chevron-takes-steps-to-reduce-methane-emissions-from-lng-carriers" rel="noreferrer noopener">and support its carbon reduction goals</a>.
Investors can gain exposure to the Chevron via&nbsp;E.A. Series Trust Strive U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRLL#NYSE">DRLL</a>) and&nbsp;SPDR Select Sector Fund – Energy Select Sector&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>).
Price Action: CVX shares are up 0.13% at $145.18 at the last check Friday.
Photo by Jonathan Weiss on Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/09/40920735/chevron-slams-bidens-lng-export-pause-touts-natural-gas-for-ai-growth-report" target="_blank" rel="noreferrer noopener">Chevron Slams Biden&#8217;s LNG Export Pause, Touts Natural Gas For A.I. Growth: Report</a></li>
</ul>
Disclaimer: This content was partially produced with the help of A.I. tools and was reviewed and published by Benzinga editors.

Equities

Large Cap

DRLL

Chevron Prioritizes Gas Sales Over LNG Plant Investment: Report

Earlier on Friday, &nbsp;Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) announced headline results from a phase 2a clinical trial with monlunabant, a small-molecule oral cannabinoid receptor 1 (CB1) <a target="_blank" href="https://www.benzinga.com/general/biotech/24/09/40961934/novo-nordisk-stock-declines-after-headline-results-from-mid-stage-study-of-monlunabant-in-obese-p" rel="noreferrer noopener">inverse agonist</a>.
After 16 weeks of treatment, people treated with a once-daily 10 mg dose of monlunabant achieved a weight loss of 7.1 kg compared to a reduction of 0.7 kg with a placebo.
Probably, the investors are reacting to the limited additional weight loss seen at higher doses.
In March, Novo Nordisk <a target="_blank" href="https://www.novonordisk.com/content/dam/nncorp/global/en/investors/irmaterial/cmd/2024/P5-Obesity-Care.pdf" rel="noreferrer noopener">shared</a> monlunabant update during its Capital Markets Day 2024.
In Phase 1, monlunabant produced a statistically significant mean weight loss of 3.5 kg (3.3%) compared to 0.6 kg (0.5%) with placebo at day 28.
Corbus Pharmaceuticals Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRBP#NASDAQ">CRBP</a>) and Skye Bioscience Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYE#NASDAQ">SKYE</a>)&nbsp;stocks plunged in reaction to the data.
All three companies are developing weight loss drugs that employ a mechanism of action, peripheral CB1 inhibition.
Corbus Pharmaceuticals&#8217; investigational CRB-913, also a CB1 inverse agonist, is in the preclinical phase. Human <a target="_blank" href="https://www.corbuspharma.com/our-pipeline" rel="noreferrer noopener">trials</a> are expected to start in the first quarter of 2025.
Analyst reactions:
<ul>
<li>Wedbush maintains Corbus Pharmaceuticals with an Outperform rating and lowered the price <a href="https://www.benzinga.com/quote/CRBP/analyst-ratings" target="_blank" rel="noreferrer noopener">target from $85 to $51</a>.</li>
<li>B. Riley Securities maintains Corbus with a Buy and lowered the price target from $85 to $40.</li>
</ul>
Skye is conducting a Phase 2 trial in obesity for nimacimab, a negative allosteric modulating antibody that peripherally inhibits CB1.
This study is also assessing the combination of nimacimab and Novo Nordisk&#8217;s Wegovy (semaglutide). Skye <a target="_blank" href="https://ir.skyebioscience.com/company-information" rel="noreferrer noopener">expects</a> interim and topline data from its <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/g40503382/skye-bioscience-launches-phase-2-cbeyond-clinical-trial-of-its-differentiated-cb1-inhibitor-nimaci" rel="noreferrer noopener">Phase 2 study in 2025</a>.
Jefferies analyst notes that while expectations for Corbus&#8217; asset have been tempered, key uncertainties persist, making it difficult to draw firm conclusions. This is particularly true as Novo Nordisk advances its obesity candidate. Additional insights from long-term open-label extension data, expected in late October, may provide more clarity.
Price Action: SKYE stock is down 41% at $3.24, and CRBP stock is down 59.4% at $21.00 at last check Friday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/biotech/24/09/40963255/johnson-johnsons-rybrevant-scores-third-fda-approval-of-2024-for-certain-type-of-inoperable-lung-" target="_blank" rel="noreferrer noopener">Johnson &amp; Johnson&#8217;s Rybrevant Scores Third FDA-Approval Of 2024 For Certain Type Of Inoperable Lung Cancer In Pretreated Patients</a>.</li>
</ul>

Analyst Color

Health Care

Price Target

CRBP

SKYE

Novo Nordisk's Monlunabant Data Drags Stocks Of Smaller Players

ICU Medical Inc's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICUI#NASDAQ">ICUI</a>) subsidiary, Smiths Medical, initiated a <a href="https://www.fda.gov/medical-devices/medical-device-recalls/ventilator-recall-smiths-medical-removes-parapac-plus-ventilators-due-loosened-or-detached-patient">recall</a> Friday of its paraPAC plus P300 and P310 ventilators <a href="https://www.benzinga.com/topic/medical-devices">due to faulty parts</a>. 
According to the FDA, there&#8217;s a possibility that the patient outlet connector may loosen or detach, impacting active ventilation. If this happens, it could cause serious adverse health consequences, including not enough ventilation (hypoventilation), not enough oxygen (hypoxia), slowed heartbeat (bradycardia), low blood pressure (hypotension), a sudden stop of the lungs (respiratory arrest), and death.
There has been one reported injury. There has been one report of death.
Smiths Medical PneuPAC paraPAC Plus P300 and P310 Ventilators are gas-powered emergencies and transport portable ventilators, including in vehicles such as airplanes and helicopters.
They are suitable for emergencies at accident scenes and transports between hospitals or within a hospital or medical facility. These ventilators are intended to provide ventilatory support for adults, children, and infants.
The paraPAC Plus devices also provide free-flow oxygen therapy and continuous positive airway pressure (CPAP) therapy for spontaneously breathing patients. They can also be used in emergency situations to provide ventilatory support for CPR resuscitation.
Earlier this week, Smiths Medical initiated a <a href="https://www.fda.gov/medical-devices/medical-device-recalls/tracheostomy-tube-recall-smiths-medical-removes-certain-bivona-neonatalpediatric-and-adult">recall</a> of certain Bivona neonatal/pediatric and adult tracheostomy tubes due. A manufacturing defect caused the securement flange on the <a href="https://www.benzinga.com/news/24/09/40943574/icu-medical-recalls-certain-tracheostomy-tubes-due-to-manufacturing-defects" target="_blank" rel="noreferrer noopener">device to tear</a>. There have been 35 reported injuries and two reported deaths.
Price Action: ICU Medical stock is down 1.56% at $178.44 at last check Friday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/09/40962425/jp-morgan-targets-uk-with-fresh-credit-card-offering-report" target="_blank" rel="noreferrer noopener">JPMorgan Targets UK With Fresh Credit Card Offering: Report</a></li>
</ul>

ICUI

ICU Medical Recalls ParaPAC Plus Ventilators Due To Loose Outlet Connector That Can Cause Injury Or Death

Shares of Manulife Financial Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mfc#NYSE">MFC</a>) closed at $28.87 on Thursday, near its 52-week high of $28.89. A strong-performing Asia business, expanding Wealth and Asset Management business and a solid capital position are driving the stock price higher.
The company is one of the three dominant life insurers within its domestic Canadian market and possesses rapidly growing operations in the United States and several Asian countries. Earnings grew 4.9% in the last five years, better than the industry average of 4.6%.
Shares have rallied 30.6% year to date, outperforming the industry&#39;s increase of 19%, the Finance sector&#39;s increase of 13.7% and the S&amp;P 500 composite&#39;s rise of 17.7%.
<h2>MFC Outperforms Industry, Sector, S&amp;P 500 YTD</h2>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/d1/78668.jpg?v=2085214265" />
Image Source: Zacks Investment Research
MFC shares are trading well above the 50-day moving average, indicating a bullish trend.
<h2>MFC&#39;s Return on Equity</h2>
Manulife&#39;s return on equity (ROE) for the trailing 12 months is 16.2%, better than the industry average of 15.5%. This reflects Manulife&#39;s efficiency in utilizing shareholders&#39; funds. It expects to generate a ROE of more than 18% by 2027.
<h2>Optimistic Growth Outlook</h2>
The Zacks Consensus Estimate for 2024 and 2025 earnings per share is pegged at $2.72 and $2.86, respectively, suggesting an increase of 5.8% and 5.2% year over year. The long-term earnings growth rate is currently pegged at 10%. Manulife expects core EPS growth of 10-12% over the medium term.&nbsp;
<h2>Factors Favoring MFC</h2>
Manulife&#39;s Asia business continues to be a major contributor to earnings. Asia has been the fastest-growing insurance segment, supported by strong volume growth and attractive margins. This market appears attractive, given its changing demographics. MFC now expects core earnings from Asia to contribute 50% to overall earnings by 2027.
As part of its strategic priorities, Manulife is also investing in high ROE and growth segments in North America.&nbsp; The company&#39;s highest potential businesses, including operations in Asia, Global WAM, Canada group benefits and behavioral insurance products, currently contribute two-thirds to core earnings. The insurer now looks to increase it to 75% and thus is expediting growth in these highest potential businesses.
In tandem with the wave of digitalization going on, MFC is digitalizing and automating workflows through GenAI and advanced analytics.&nbsp; Accelerated digitalization should help it achieve an expense efficiency ratio of less than 45% in the medium term.
Manulife has been strengthening its balance sheet by improving liquidity and leverage. It targets a leverage ratio of 25%. Notably, its free cash flow conversion has remained more than 100% over the last many quarters, reflecting its solid earnings.
The life insurer, banking on consistent cash flow, hiked dividends at a six-year CAGR of 10% and targets a 35-45% dividend payout over the medium term.
<h2>Concerns Regarding MFC</h2>
Despite the upside potential, there are a few factors that investors should keep an eye on.
Manulife targeted an expense efficiency ratio of less than 50% or $1 billion in cost savings and avoidance.&nbsp; It is on track to deliver an efficiency ratio of less than 45% in the future. However, its net margin has been contracting over the last six quarters.
Manulife draws a substantial portion of its earnings from the international market, which makes its profitability vulnerable to foreign exchange losses. In an attempt to lower its forex exposure, the company has started incurring hedging costs.
Though the leverage has been gradually improving, times interest earned has been declining.
The return on invested capital in the trailing 12 months was 0.66%, comparing unfavorably with the industry average of 0.68%, reflecting the insurer&#39;s inefficiency in utilizing funds to generate income.
<h2>MFC Shares Expensive&nbsp;</h2>
MFC shares are trading at a price-to-earnings multiple of 10.23, higher than the industry average of 8.40.
Shares of other insurers like Sun Life Financial&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/slf#NYSE">SLF</a>) and Aflac Incorporated (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/afl#NYSE">AFL</a>) are trading at a multiple higher than the industry average.
<h2>Parting Thoughts</h2>
MFC&#39;s focus on building a high-growth, high-return and high cash generation company, wealth distribution to shareholders and ROE expansion instills confidence in this Zacks Rank #3 (Hold) insurer.
However, given the stock&#39;s premium valuation, it will be wise for new investors to wait for a better entry point.
Investors who already hold MFC stock should retain it, given its growth prospects.
<a href="https://www.zacks.com/stock/news/2339314/mfc-stock-near-52-week-high-should-you-buy-or-wait-for-a-pullback?cid=CS-BENZ-FT-analyst_blog|rank_focused-2339314">To read this article on Zacks.com click here.</a>

Asia

Dividends

MFC Stock Near 52-Week High: Should You Buy or Wait for a Pullback?

Rio Tinto (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rio#NYSE">RIO</a>) announced that it would invest in Pongamia seed farms in Australia to explore the possibility of using its seed oil as a feedstock for renewable diesel. RIO sees biofuels as an avenue to reduce the dependence on fossil diesel, which accounts for around 10% of its emissions footprint in Australia.
To achieve net-zero Scope 1 and 2 carbon emissions by 2050, Rio Tinto has chosen electrification as the long-term solution for replacing the use of diesel in its fleet. While electrification is in progress, the company is looking at other quicker options to lower diesel-sourced emissions, such as biofuels.
Australia does not yet have a biofuel feedstock industry capable of meeting domestic demand. Rio Tinto expects that the pilot will play an important role in addressing this gap while supporting its journey to achieve decarbonization goals.
<h2>Rio Tinto Joins Forces With Midway for Pongamia Farm Trial</h2>
Pongamia is a fast-growing tree that is native to northern Australia. It produces large numbers of seeds, which are rich in oil and protein. The seeds can be processed into renewable diesel, which offers a significant reduction in carbon emissions compared with fossil fuel diesel.
After the extraction of oil, the seed pod and meal can be processed for other uses such as cattle feed. Pongamia has other benefits, it is drought tolerant, salinity and flood resistant, with low water, fertilization and pest control requirements making it easy to grow.
Rio Tinto is in the final stages of acquiring approximately 3,000 hectares of cleared land near Townsville in north Queensland to establish farms to study growth conditions and measure seed oil yields.
RIO has partnered with Midway Limited to oversee the planting and management of the seed farms. The companies will plant approximately 750,000 Pongamia saplings.
<h2>Rio Tinto&#39;s Decarbonization Efforts</h2>
In 2023, Rio Tinto&#39;s Scope 1 and 2 emissions were 32.6Mt CO2e, which marked a reduction of 5.5% from its 2018 baseline. It plans to invest capital in the range of $5- $6 billion by 2030 to deliver on its decarbonization strategy.
In July, RIO announced that it is set to install carbon-free aluminum smelting cells at its Arvida smelter in Qu&eacute;bec, Canada, utilizing the first technology license issued by the ELYSIS joint venture. The groundbreaking ELYSIS technology aims to eliminate all direct greenhouse gases from the conventional aluminum smelting process by producing oxygen as a byproduct while improving efficiency by producing more aluminum at lower costs.
In May 2024, Rio Tinto and BHP Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bhp#NYSE">BHP</a>) teamed up to trial large battery-powered haul trucks manufactured by Caterpillar (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cat#NYSE">CAT</a>) and Komatsu (OTC: <a class="ticker" href="https://www.benzinga.com/stock/kmtuy#OTC">KMTUY</a>) in the Pilbara region of Western Australia. The trials will kick off with two Cat 793 haul trucks in 2024, followed by two Komatsu 930 haul trucks in 2026.
BHP will trial the Caterpillar trucks while Rio Tinto will test the Komatsu trucks. This collaboration between two leading global miners with two of the world&#39;s largest haul truck manufacturers seeks to address the critical challenge of achieving zero-emissions haulage in the mining sector.
Even though electrification is the most efficient and cost-effective solution to reduce the use of fossil diesel in mining fleet and equipment, Rio Tinto does not expect mass deployment of battery electric haul trucks at its operations to be technically or commercially feasible before 2030.
In the meantime, Rio Tinto intends to explore other avenues like biofuels to reduce diesel-sourced emissions. In June 2023, its Boron operation in California fully transitioned its heavy machinery from fossil diesel to renewable diesel. It is the first open pit mine in the world to achieve this feat.&nbsp; The company expects to replicate this at its Kennecott copper operation in Utah this year. It is also investigating the usage of biofuels in scenarios where electrification may be challenging to implement.
<h2>RIO&#39;s Price Performance &amp; Zacks Rank</h2>
In a year, shares of Rio Tinto have gained 2.2% against the industry&#39;s 2.8% decline.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/b0/78685.jpg?v=1692237515" />
Image Source: Zacks Investment Research
Rio Tinto currently has a Zacks Rank #3 (Hold).
<a href="https://www.zacks.com/stock/news/2339414/rio-to-test-biofuel-crop-for-renewable-diesel-production-in-australia?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2339414">To read this article on Zacks.com click here.</a>

Events

KMTUY

RIO to Test Biofuel Crop for Renewable Diesel Production in Australia

The experimental drug KarXT, developed by Karuna Therapeutics, is expected to receive FDA approval later this month (Sept. 26), marking a significant breakthrough in schizophrenia treatment.
If approved, KarXT would become the first novel schizophrenia drug in over 70 years, offering new hope for patients and medical professionals alike.
Schizophrenia, a mental disorder that affects approximately 3.8 million adults in the U.S., is often characterized by severe symptoms such as social isolation, memory issues and psychotic episodes.
Last year, Bristol-Myers Squibb &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) acquired Karuna Therapeutics for $330 per share in cash for a total equity value of $14 billion, or $12.7 billion net of <a href="https://www.benzinga.com/markets/equities/23/12/36388646/bristol-myers-acquisition-of-karuna-therapeutics-paves-way-for-aggressive-global-marketing-of-ka" target="_blank" rel="noreferrer noopener">estimated cash acquired</a>. 
The Financial Times <a target="_blank" href="https://www.ft.com/content/427d37df-e2e9-4b67-87be-29f2a258de00" rel="noreferrer noopener">highlights</a> that existing treatments, mainly focused on blocking dopamine receptors, often come with serious side effects, including weight gain and involuntary movements.
Despite the enthusiasm surrounding KarXT, the complexity and financial constraints of the U.S. health care system could limit access to this new treatment.
High drug pricing could also hinder access; the Institute for Clinical and Economic Review has suggested KarXT be priced at up to $20,000 per year.
In August, AbbVie Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) completed the acquisition of Cerevel Therapeutics, another company focused on developing drugs for neurological disorders, for a total equity value of approximately $8.7 billion, or <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/23/12/36138732/abbvies-new-9b-neuroscience-space-deal-might-attract-ftc-scrutiny-analyst-signals" rel="noreferrer noopener">$45 per share in cash</a>.
The challenges extend beyond the cost and availability of medications, the Financial Times report adds. Many individuals with mental health conditions, particularly schizophrenia, encounter law enforcement rather than health care professionals during crises.
While KarXT&#8217;s approval could represent a crucial step forward, many experts, including Michael Thompson, a criminal justice expert, say that more systemic changes are needed to ensure mental health care is accessible and effective, especially for vulnerable populations like the homeless, according to FT. 

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/biotech/24/09/40963228/zevra-therapeutics-drug-becomes-first-fda-approved-treatment-for-ultra-rare-neurodegenerative-dis" target="_blank" rel="noreferrer noopener">Zevra Therapeutics&#8217; Drug Becomes First FDA-Approved Treatment For Ultra-Rare Neurodegenerative Disease</a></li>
</ul>
Photo via Pixabay.

ABBV

Bristol-Myers Acquired Drug KarXT Poised For FDA Approval As First New Type Of Schizophrenia Treatment In 70 Years

Financial giants have made a conspicuous bullish move on AbbVie. Our analysis of options history for AbbVie (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) revealed 8 unusual trades.
Delving into the details, we found 37% of traders were bullish, while 12% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $325,314, and 4 were calls, valued at $527,350.
<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 $165.0 to $195.0 for AbbVie during the past quarter. 
<h3>Volume &amp; Open Interest Trends</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for AbbVie's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of AbbVie's whale trades within a strike price range from $165.0 to $195.0 in the last 30 days. 
<h3>AbbVie Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726859359_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</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>ABBV</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$28.4</td>
<td>$27.15</td>
<td>$28.0</td>
<td>$165.00</td>
<td>$361.2K</td>
<td>1.4K</td>
<td>29</td>
</tr>
<tr>
<td>ABBV</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$3.8</td>
<td>$3.7</td>
<td>$3.71</td>
<td>$180.00</td>
<td>$204.0K</td>
<td>8</td>
<td>553</td>
</tr>
<tr>
<td>ABBV</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$8.1</td>
<td>$8.05</td>
<td>$8.1</td>
<td>$195.00</td>
<td>$101.2K</td>
<td>363</td>
<td>125</td>
</tr>
<tr>
<td>ABBV</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>09/20/24</td>
<td>$2.12</td>
<td>$1.83</td>
<td>$1.95</td>
<td>$195.00</td>
<td>$58.5K</td>
<td>3.3K</td>
<td>1.0K</td>
</tr>
<tr>
<td>ABBV</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$18.25</td>
<td>$17.75</td>
<td>$17.98</td>
<td>$190.00</td>
<td>$35.9K</td>
<td>646</td>
<td>20</td>
</tr>
</tbody>
</table>

<h3>About AbbVie</h3>
AbbVie is a pharmaceutical firm with a strong exposure to immunology (with Humira, Skyrizi, and Rinvoq) and oncology (with Imbruvica and Venclexta). The company was spun off from Abbott in early 2013. The 2020 acquisition of Allergan added several new products and drugs in aesthetics (including Botox).
Following our analysis of the options activities associated with AbbVie, we pivot to a closer look at the company's own performance.
<h3>Current Position of AbbVie</h3>
<ul>
<li>With a trading volume of 3,370,211, the price of ABBV is down by -0.39%, reaching $192.86.</li>
<li>Current RSI values indicate that the stock is is currently neutral between overbought and oversold.</li>
<li>Next earnings report is scheduled for 35 days from now.</li>
</ul>
<h3>Expert Opinions on AbbVie</h3>
In the last month, 1 experts released ratings on this stock with an average target price of $209.0.
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; Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on AbbVie with a target price of $209. 
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 AbbVie with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Spotlight on AbbVie: Analyzing the Surge in Options Activity

Bloom Energy Says Expects Shipment Volumes To Korea To Be Similar In 2024 And The Coming Years To What They Have Been In Recent Years

Jabil Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jbl#NYSE">JBL</a>) is set to release fourth-quarter fiscal 2024 results on Sept. 26, before the opening bell. In the last reported quarter, the company delivered an earnings surprise of 2.16%. It pulled off a trailing four-quarter earnings surprise of 3.10%, on average.
The leading global supplier of electronic manufacturing services is likely to witness a revenue contraction year over year in the fourth quarter of fiscal 2024. Soft demand trends in some end markets and macroeconomic challenges are likely to impede the top-line growth. Initiatives to improve profitability and free cash flow are positives.
<h2>Factors at Play</h2>
Jabil is placing a strong emphasis on integrating sophisticated AI and ML capabilities to enhance portfolio offerings and improve the efficiency of its internal process. Growing demand for AI infrastructure in data center space, along with AI proliferation in cloud, networking and industrial automation end markets are major tailwinds. Jabil&#39;s focus on end market and product diversification, coupled with its large-scale global operations, offers a high degree of resilience during times of macroeconomic and geopolitical disruption. Management&#39;s focus on operational efficiency and effective working capital management is boosting profitability and free cash flow.
However, demand softness in several key end markets, including 5G, renewable energy, digital print and healthcare is weighing on net sales. The company&#39;s automotive vertical is also experiencing headwinds as the Chinese automotive market grapples with overcapacity and high inventory levels. Moreover, the launch of new electric vehicle platforms has been postponed by several quarters. These factors are likely to have impeded revenues in the fourth quarter of fiscal 2024. The company&#39;s strategy to move away from less prospective markets by restructuring and reshaping its portfolio will impact top-line growth in the near term.
The Zacks Consensus Estimate for the DMS vertical is pegged at $3.384 billion, indicating a decline from $4.436 billion reported in the year-ago quarter. Revenues from the EMS vertical are pegged at $3.169 billion, implying a downtrend from $4.022 billion in the year-ago quarter.
For the August quarter, the Zacks Consensus Estimate for revenues is pegged at $6.573 billion, which indicates a decline from the year-ago quarter&#39;s tally of $8.458 billion. The consensus estimate for earnings is pegged at $2.23, suggesting a decrease from $2.45 reported in the prior-year quarter.
<h2>Earnings Whispers</h2>
Our proven model doesn&#39;t conclusively predict an earnings beat for Jabil this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is not the case here.
Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, is -0.22%.
<div class="chart_embed">
<h3>Jabil, Inc. Price and EPS Surprise</h3>
<img alt="Jabil, Inc. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/8d/1726839570.png" style="height:294px; width:610px" title="" />
Jabil, Inc. price-eps-surprise | Jabil, Inc. Quote
Zacks Rank: Jabil currently has a Zacks Rank #4 (Sell).
</div>
<h2>Stocks to Consider</h2>
Here are some companies you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this season:
Accenture (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/acn#NYSE">ACN</a>) is set to release its quarterly numbers on Sept. 26. It has an Earnings ESP of +0.37% and a Zacks Rank #2.
The Earnings ESP for Carnival (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ccl#NYSE">CCL</a>) stands at +2.99%. The company carries a Zacks Rank of 3. It is scheduled to report quarterly numbers on Sept. 30.
The Earnings ESP for Costco Wholesale (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cost#NASDAQ">COST</a>) stands at +0.62%, and it carries a Zacks Rank of 3. The company is scheduled to report quarterly numbers on Sept. 26.
<a href="https://www.zacks.com/stock/news/2339327/will-revenue-contraction-affect-jabil-s-q4-earnings-results?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2339327">To read this article on Zacks.com click here.</a>

Offerings

COST

Will Revenue Contraction Affect Jabil's Q4 Earnings Results?

Legal

Transport Workers Union Of America Say Tentative Contract Extension For American Airlines Amts, Fleet Service Workers, Ground Mechanics; Say Agreement With American Airlines Is A Two-year Extension That Goes Goes Into Effect Jan. 1, 2025

Microsoft Corp. (NASDA: MSFT) <a href="https://ambassadors.microsoft.com/xbox/blog/celebrating-the-legacy-and-evolution-of-the-xbox-ambassadors">announced</a> the end of its Xbox Ambassadors program.
Starting today, the program will begin winding down, with a complete shutdown scheduled for Oct. 15, 2024. Ambassadors have until that date to claim any remaining rewards and codes.
See Also: <a href="https://www.benzinga.com/general/gaming/23/03/31497636/xbox-invests-in-underrepresented-developers-to-expand-gaming-industry-reach">Xbox Invests In Underrepresented Developers To Expand Gaming Industry Reach</a>
The Xbox Ambassadors initiative was designed to promote inclusivity, safety, and fun within the gaming community. 
While participants were not Microsoft employees, they played a vital role in representing the Xbox brand. To qualify, Ambassadors needed to meet certain requirements, such as maintaining a minimum Gamerscore of 1,500 and being at least 17 years old. 
These standout community members were often rewarded with exclusive digital and physical items, editorial spotlights and access to sweepstakes.
&#8220;We have learned so much from this passionate group,&#8221; Microsoft said in its official announcement. However, the company cited the evolving nature of the Xbox brand as the reason behind the program&#8217;s closure, with plans to shift community engagement strategies moving forward.
<h1 class="wp-block-heading">Changes And New Directions For Xbox Engagement</h1>
The company hinted at future plans for expanding its engagement programs, particularly through its Xbox Rewards and Xbox Research initiatives.
&#8220;Players are finding more value in engaging with us in other ways that allow them to live our community values of making Xbox a place where everyone can have fun,&#8221; Microsoft said in its statement. 
This shift will see greater emphasis on other programs like Xbox Fanfest and the Xbox Insider Program, which aim to maintain the community spirit fostered by the Ambassadors.
<h1 class="wp-block-heading">A Tumultuous Year For Microsoft Gaming</h1>
The closure of the Xbox Ambassadors program comes amid a challenging year for Microsoft Gaming. The company, like many others in the gaming industry, has faced waves of layoffs. In January 2024, Xbox cut 1,900 staff, and further reductions followed in May, including the closure of studios like Arkane Austin and Tango Gameworks. 
Just last week, another 650 staff members were <a href="https://www.benzinga.com/markets/equities/24/09/40829756/microsoft-cuts-650-xbox-jobs-amid-restructuring-following-activision-blizzard-deal-report">laid off.</a>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/gaming/23/03/31497636/xbox-invests-in-underrepresented-developers-to-expand-gaming-industry-reach">Xbox Introduces Four New Accessibility Devices, Features For Disabled Gamers</a></li>
</ul>
<ul>
<li><a href="https://www.benzinga.com/24/09/40840369/microsofts-new-xbox-game-pass-tiers-which-games-will-you-lose">Microsoft&#8217;s New Xbox Game Pass Tiers: Which Games Will You Lose?</a></li>
</ul>
Photo: <a href="https://www.shutterstock.com/es/g/IamMottakin">Mojahid Mottakin</a> on Shutterstock.

Gaming

MSFT

Microsoft Phases Out Xbox Ambassadors Program After 13 Years

Over the past 24 hours, Bittensor's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TAO</a>) price rose 9.56% to $408.24. This continues its positive trend over the past week where it has experienced a 29.0% gain, moving from $312.66 to its current price. As it stands right now, the coin's all-time high is $757.60. 
The chart below compares the price movement and volatility for Bittensor over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
<img src="https://www.benzinga.com/files/images/story/2024/1726859021_0.png" alt="price_chart" />
The trading volume for the coin has risen 126.0% over the past week diverging from the circulating supply of the coin, which has decreased 0.69%. This brings the circulating supply to 7.38 million, which makes up an estimated 35.15% of its max supply of 21.00 million. According to our data, the current market cap ranking for TAO is #34 at $3.01 billion.
<img src="https://www.benzinga.com/files/images/story/2024/1726859021_1.png" alt="supply_and_vol" />
<a href="https://www.coingecko.com/en/api">Powered by CoinGecko API</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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

Cryptocurrency

$TAO

Cryptocurrency Bittensor Rises More Than 9% In 24 hours

Kaspa's (CRYPTO:KAS) price has decreased 3.42% over the past 24 hours to $0.17, continuing its downward trend over the past week of -1.0%, moving from $0.17 to its current price. 
The chart below compares the price movement and volatility for Kaspa over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
<img src="https://www.benzinga.com/files/images/story/2024/1726858954_0.png" alt="price_chart" />
Kaspa's trading volume has climbed 44.0% over the past week, moving in tandem, directionally, with the overall circulating supply of the coin, which has increased 0.52%. This brings the circulating supply to 24.75 billion, which makes up an estimated 86.21% of its max supply of 28.70 billion. According to our data, the current market cap ranking for KAS is #27 at $4.18 billion.
<img src="https://www.benzinga.com/files/images/story/2024/1726858954_1.png" alt="supply_and_vol" />
<a href="https://www.coingecko.com/en/api">Powered by CoinGecko API</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Cryptocurrency Kaspa Falls More Than 3% In 24 hours

Over the past 24 hours, Aptos's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">APT</a>) price has risen 6.02% to $7.26. This continues its positive trend over the past week where it has experienced a 14.0% gain, moving from $6.29 to its current price. As it stands right now, the coin's all-time high is $19.92. 
The chart below compares the price movement and volatility for Aptos over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
<img src="https://www.benzinga.com/files/images/story/2024/1726858945_0.png" alt="price_chart" />
Aptos's trading volume has climbed 200.0% over the past week along with the circulating supply of the coin, which has increased 0.23%. This brings the circulating supply to 500.28 million. According to our data, the current market cap ranking for APT is #31 at $3.63 billion.
<img src="https://www.benzinga.com/files/images/story/2024/1726858945_1.png" alt="supply_and_vol" />
<a href="https://www.coingecko.com/en/api">Powered by CoinGecko API</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$APT

Cryptocurrency Aptos Up More Than 6% In 24 hours

A Georgia pharmacy has started selling low-THC medical marijuana to registered patients statewide, despite opposition from the <a href="https://www.benzinga.com/topic/drug-enforcement-administration">Drug Enforcement Administration (DEA).</a>
Vic Johnson, who owns the Living Well Pharmacy in Augusta, <a href="https://www.ajc.com/news/health-news/independent-georgia-pharmacy-is-dispensing-medical-marijuana-defying-dea-warning/ZML4KLIPQ5HQDLZ4GIRU27MXLI/">told</a> the Journal-Constitution that selling medical cannabis in pharmacies is "a new frontier."
Why? "I really think pharmacies are an ideal outlet for dispensing medical cannabis because if you come to my pharmacy already, we can talk about what medications you already are taking."
The Georgia Board of Pharmacy started accepting applications from nearly 120 pharmacies to provide medical marijuana products in October, making it the first state in the nation to allow the sale of low-dose cannabis at independent drug stores. The move came four years after the Georgia legislature legalized low-THC medical marijuana in 2019.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/cannabis-conference/"><img loading="lazy" decoding="async" width="970" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20133836/ccc-oct-24-banner__1_-33.gif" alt="" class="wp-image-558952" /></a></figure>
Botanical Sciences LLC and Trulieve Cannabis Corp. (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTCQX">TCNNF</a>), which were the first cannabis businesses to launch medical cannabis sales statewide in 2023, were given the green light to supply pharmacies with products.
Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.
<h3 class="wp-block-heading">DEA Is Against It</h3>
The DEA sent warning letters to pharmacies involved in the state&#8217;s medical marijuana program shortly after, cautioning against dispensing THC. Even though the DEA's move prompted concerns among industry stakeholders about potential obstacles to the expansion of medical marijuana access for patients statewide, the Georgia Access to Medical Cannabis Commission (GMCC) maintained its stance.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/23/12/36246587/dea-vs-georgia-tensions-rise-over-medical-cannabis-access-as-state-regulators-consider-legal-act">DEA vs. Georgia: Tensions Rise Over Medical Cannabis Access As State Regulators Consider Legal Action</a>
"I want patients to know that we are well on our way to fully implement the Hope Act [Harnessing Opportunities by Pursuing Expungement Act]," GMCC chair Sid Johnson said. "We will continue to pursue our mission of ensuring access to medical cannabis for all patients across Georgia."
Johnson's pharmacy was earlier approved by the Georgia Board of Pharmacy to dispense low-THC oil to Richmond County's registered patients. He said his pharmacy got the green light to sell medical cannabis gummies, tinctures, cremes or capsules that contain 5% THC or marijuana compound in late August.
"I think our customers feel more comfortable buying this product through a pharmacy where records are kept, and we know their medical history," Johnson <a href="https://augustabusinessdaily.com/local-pharmacy-creating-a-buzz-with-thc-sales/">told</a> Augusta Business Daily. "The other benefit is that the purchases for these products are kept separate from other prescriptions we fill."
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/23/10/35491477/cannabis-milestone-over-the-counter-medical-marijuana-launches-in-georgia-pharmacies">Cannabis Milestone: Over-The-Counter Medical Marijuana Launches In Georgia Pharmacies</a></li>
</ul>
Photo: Africa Studio/Shutterstock.com

Cannabis

TCNNF

TRUL

Buying Cannabis At Pharmacy Feels 'More Comfortable,' Says Owner Of Georgia Drugstore Launching Low-THC MMJ Sales

Ratings for BOK Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BOKF#NASDAQ">BOKF</a>) were provided by 9 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding 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;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">8</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</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>1M 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>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">6</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;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated BOK Financial and provided 12-month price targets. The average target is $109.11, accompanied by a high estimate of $123.00 and a low estimate of $94.00. Surpassing the previous average price target of $99.44, the current average has increased by 9.72%.
<img src="https://www.benzinga.com/files/images/story/2024/1726858922_0.png" alt="price target chart" />
<h2>Exploring Analyst Ratings: An In-Depth Overview</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive BOK Financial. 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>Brandon King</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$123.00</td>
<td>$112.00</td>
</tr>
<tr>
<td>Wood Lay</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$110.00</td>
<td>$100.00</td>
</tr>
<tr>
<td>Jon Arfstrom</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$114.00</td>
<td>$99.00</td>
</tr>
<tr>
<td>Gary Tenner</td>
<td>DA Davidson</td>
<td>Raises</td>
<td>Neutral</td>
<td>$111.00</td>
<td>$97.00</td>
</tr>
<tr>
<td>Brandon King</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$112.00</td>
<td>$94.00</td>
</tr>
<tr>
<td>Matt Olney</td>
<td>Stephens &amp; Co.</td>
<td>Maintains</td>
<td>Equal-Weight</td>
<td>$104.00</td>
<td>$104.00</td>
</tr>
<tr>
<td>David Chiaverini</td>
<td>Wedbush</td>
<td>Raises</td>
<td>Neutral</td>
<td>$115.00</td>
<td>$94.00</td>
</tr>
<tr>
<td>Jon Arfstrom</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$99.00</td>
<td>$98.00</td>
</tr>
<tr>
<td>Brandon King</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$94.00</td>
<td>$97.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to BOK Financial. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of BOK Financial compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of BOK Financial's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into BOK Financial's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/BOKF/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on BOK Financial analyst ratings.</a>
<h2>Unveiling the Story Behind BOK Financial</h2>
BOK Financial Corp is the largest financial institution in Oklahoma and it provides a comprehensive range of nationally competitive financial products and services. Its operating segments consist of commercial banking, consumer banking, and wealth management. The company has various products and services including cash management services, loans and deposits, fiduciary and insurance services, mortgage banking and brokerage and trading services. It generates maximum revenue from the commercial banking segment. Its commercial banking segment includes lending, treasury and cash management services, and customer risk management products to small businesses, middle market, and larger commercial customers.
<h3>BOK Financial: Financial Performance Dissected</h3>
Market Capitalization Perspectives: The company's market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
Revenue Growth: Over the 3 months period, BOK Financial showcased positive performance, achieving a revenue growth rate of 4.62% as of 30 June, 2024. This reflects a substantial increase in the company's top-line earnings. When compared to others in the Financials sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: BOK Financial's net margin excels beyond industry benchmarks, reaching 29.63%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): BOK Financial's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 3.13%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): BOK Financial's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 0.32% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: With a high debt-to-equity ratio of 1.27, BOK Financial faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>The Basics of Analyst Ratings</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
Breaking: Wall Street's Next Big Mover
Benzinga's #1 analyst just identified a stock poised for explosive growth. This under-the-radar company could surge 200%+ as major market shifts unfold. <a href="https://www.benzinga.com/premium/ideas/turning-point-trader-checkout-2/?t=Tu1tu3arja3be22tu36&amp;utm_source=benzinga-insights">Click here for urgent details</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

BOKF

Forecasting The Future: 9 Analyst Projections For BOK Financial

East Buy Ditches Tuition To Become Pure E-Commerce Player

East Buy Holding

<ul>
	<li>Tencent Holding Ltd&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) slashed its stake in&nbsp;Koolearn Technology Hldg Ltd&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/KLTHF#OTC">KLTHF</a>) to 1.6% from 9%,&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2022-06-21/tencent-slashes-wager-on-stock-that-soared-684-in-edtech-frenzy?srnd=technology-vp&amp;sref=TBDibEcD" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Bloomberg reports</a>.</li>
	<li>The Chinese education technology firm&#39;s shares surged 684% in just nine trading sessions through June 16, basking on the live-streaming e-commerce frenzy before Beijing&#39;s tech crackdown.&nbsp;</li>
	<li>An analyst expressed doubts over the sustainability of the business crediting most of the rally to the retail investors.</li>
	<li>Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/06/27757218/read-how-this-alibaba-rival-shares-a-positive-take-on-chinas-regulatory-environment-economy-as-the-c" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">China Continues Its Crackdown, Penalizes Social Media Influencer $16M For Tax Evasion</a></li>
	<li>Some analysts view Tencent&#39;s move as a shift to lower exposure in areas subject to Beijing&#39;s regulatory clampdown.&nbsp;</li>
	<li>China reportedly called on live-streaming platforms to share more profits with peasants.&nbsp;</li>
	<li>China&#39;s&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/05/27068208/more-trouble-brews-for-alibaba-tiktok-and-others-as-china-intensify-livestream-crackdown" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">intense crackdown on</a>&nbsp;the sector&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/22/05/27270331/douyu-registers-17-revenue-decline-in-q1-amid-chinas-live-streaming-crackdown" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">affected the</a>&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/22/05/27244351/huya-misses-q1-revenue-amid-live-streaming-crackdown-covid-resurgence" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">quarterly results</a>&nbsp;of&nbsp;HUYA Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUYA#NYSE">HUYA</a>) and&nbsp;DouYu International Holdings Limited&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOYU#NASDAQ">DOYU</a>), leading to the&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/04/26780082/huya-joins-alibaba-in-scaling-back-post-regulatory-crackdown" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">scaling back of</a>&nbsp;jobs.</li>
	<li>However, lately,&nbsp;JD.com, Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) Retail chief Xin Lijun acknowledged some stability in the regulatory environment.</li>
	<li>Price Action:&nbsp;TCEHY shares closed at $46.73 on Friday.</li>
</ul>

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Comments

News

Latest news for (KLTHF) Stock

Tuesday, June 21, 2022