Chord Energy Stock (OTC:OASPW), Trade Ideas

Chord Energy Corp is an independent exploration and production company. The company acquires, exploits, develops, and explores crude oil, natural gas, and natural gas liquids in the Williston Basin.

Chord Energy Corp

Pseudonymous crypto influencer "Reflection" unveiled his secrets to spotting low-cap altcoins with the potential to <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38428112/only-dogecoin-and-shiba-inu-have-crossed-the-10b-meme-coin-mark-who-will-be-the-third-muse">skyrocket in the upcoming altseason</a>.
What Happened: In a thread on X, Reflection highlights the importance of understanding market cycles and investor emotions in identifying promising altcoins. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Biggest altseason in crypto history is near! People who buy right low-caps will make millions this cycle It doesn&#39;t require 200 IQ, all u need is to find &quot;I&#39;m done&quot; pattern Here&#39;s MEGA-&#x1f9f5;on how to spot alts before 100x surge&#x1f447; <a href="https://t.co/vPZal42iHU">pic.twitter.com/vPZal42iHU</a>
&mdash; Reflection&#x1faa9; (@0xReflection) <a href="https://twitter.com/0xReflection/status/1783238783833674222?ref_src=twsrc%5Etfw">April 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
He suggests that during major cooling-off phases characterized by decreased trading volume and public interest, investors often feel less enthusiastic or even depressed about their investments.
However, Reflection sees this as an opportunity for smart money to make a move, as buying during moments of fear or pessimism can lead to significant profits.
He cautions against buying when excitement is overwhelming, as it often signals that a peak is approaching. Instead, he advises patience and recommends focusing on coins with good fundamentals, a significant gap between current and potential prices, and a chart displaying the &#8220;I&#8217;m done&#8221; pattern.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38383807/trader-predicts-at-least-3-meme-coins-above-100b-market-cap-heres-which-coins-benzinga-fol">Trader Predicts &#8216;At Least 3 Meme Coins Above $100B Market Cap&#8217;: Here&#8217;s Which Coins Benzinga Followers Liked The Most</a>
Why It Matters: Reflection&#8217;s insights shed light on the inefficiencies of the crypto market, where there may be discrepancies between a coin&#8217;s actual value and its market indicators such as market capitalization, daily users, and funding.
By focusing on fundamentals and market sentiment, investors can potentially identify undervalued coins poised for growth.
Any cryptocurrency other than Bitcoin is an altcoin, including meme coin leaders like Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) and Dogwifhat (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WIF</a>). These align with Reflection&#8217;s criteria, as they exhibit strong fundamentals, significant price gaps and patterns indicative of potential growth.
What's Next: The influence of meme coins and&nbsp;<a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment" target="_blank" rel="noreferrer noopener">Bitcoin as an institutional asset class</a>&nbsp;are topics expected to be thoroughly explored at Benzinga's upcoming&nbsp;<a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a>&nbsp;event on Nov. 19.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38428112/only-dogecoin-and-shiba-inu-have-crossed-the-10b-meme-coin-mark-who-will-be-the-third-muse">Only Dogecoin And Shiba Inu Have Crossed The $10B Meme Coin Mark: &#8216;Who Will Be The Third?,&#8217; Muses Crypto Whale</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Shutterstock

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

Cryptocurrency

News

$DOGE

$SHIB

$WIF

Crypto Trader Describes His Technique To 'Spot Altcoins Before A 100X Surge'

Loop Capital analyst Anthony Chukumba maintains PROG Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRG#NYSE">PRG</a>) with a Hold and raises the price target from $31 to $35.

Price Target

Analyst Ratings

Loop Capital Maintains Hold on PROG Holdings, Raises Price Target to $35

WIIM

Antero Resources shares are trading higher following Q1 earnings.

Blockchain software company Consensys on Thursday announced it is suing the U.S. Securities and Exchange Commission (SEC) in a lawsuit aimed at ensuring <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38404202/why-sec-delays-put-the-may-ethereum-etf-deadline-in-doubt">Ethereum&#8217;s status as a non-security</a>.
The lawsuit, filed in the Northern District of Texas, comes amid ongoing regulatory uncertainty surrounding the world&#8217;s second-largest blockchain platform.
Consensys Accuses SEC Of &#8220;Unlawful Regulation&#8221;
Consensys argues that the SEC is overstepping its authority by attempting to regulate ether, the native cryptocurrency of the Ethereum network. 
They point to the SEC&#8217;s past statements acknowledging Ether as a commodity, not a security.
&#8220;The SEC cannot be allowed to arbitrarily expand its jurisdiction to regulate what is plainly and by the SEC&#8217;s own prior admission a commodity,&#8221; said Joe Lubin, Consensys CEO and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) co-founder, in a press release.
Potential Impact On Innovation
The lawsuit highlights the potential negative consequences of the SEC&#8217;s actions. 
Consensys argues that classifying Ether as a security would stifle innovation within the Ethereum ecosystem.
&#8220;The SEC&#8217;s approach would make it impossible for developers in the U.S. to build on Ethereum,&#8221; the press release states. 
&#8220;It would misclassify non-financial platforms as financial applications and effectively end U.S. transactions in ether.&#8221;
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38439558/bitcoin-options-on-hold-sec-delays-decision-seeks-public-input">Bitcoin Options On Hold: SEC Delays Decision, Seeks Public Input</a>
Consensys Calls For Industry Support
Consensys is seeking a court ruling that confirms the SEC&#8217;s lack of authority over ether, user-controlled software interfaces built on Ethereum, and the Ethereum blockchain itself. 
The company is also calling for industry-wide support in its fight against the SEC&#8217;s regulatory actions.
&#8220;We are taking decisive, proactive steps on the industry&#8217;s behalf at this critical moment for the future of Ethereum, other decentralized protocol technologies and indeed the entire next chapter of the internet&#8217;s development. We are committed to the cause and resolved to win,&#8221; Lubin added.
The Future Of Ethereum: A Discussion At Benzinga&#8217;s Upcoming Event
The Benzinga <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event, scheduled for Nov. 19, will bring together industry leaders, legal experts, and policymakers to discuss the future of digital assets and the <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38404202/why-sec-delays-put-the-may-ethereum-etf-deadline-in-doubt">evolving regulatory landscape.</a>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38439393/a16z-crypto-cto-slams-memecoins-but-are-they-the-real-threat">a16z Crypto CTO Slams Memecoins, But Are They The Real Threat?</a>
Image: Shutterstock

$ETH

Consensys Sues SEC Over Ethereum Classification, Calls For Regulatory Clarity

Stephens &amp; Co. analyst Andrew Terrell reiterates First Interstate BancSys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIBK#NASDAQ">FIBK</a>) with a Overweight and maintains $32 price target.

Reiteration

FIBK

Stephens & Co. Reiterates Overweight on First Interstate BancSys, Maintains $32 Price Target

Barclays analyst Jiong Shao downgrades Li Auto (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) from Overweight to Equal-Weight and lowers the price target from $39 to $25.

Downgrades

Barclays Downgrades Li Auto to Equal-Weight, Lowers Price Target to $25

Billionaire investor Ron Baron believes Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock has fallen far enough and is now getting ready to<a href="https://www.benzinga.com/markets/equities/24/04/38372739/when-tesla-dips-these-six-s-p-500-stocks-including-ebay-walmart-and-wells-fargo-often-soar-analy"> rip higher from current levels.</a>
Why TSLA Is Down: Thursday on CNBC&#8217;s &#8220;Squawk Box,&#8221; Baron, a longtime Tesla bull, explained both why Tesla stock is down so much for the year and why he expects it to &#8220;go up huge&#8221; from here.
&#8220;The reason the stock is down is not because of the quarter,&#8221; Baron said. 
Tesla shares are down approximately 34% year-to-date amid continued concerns about slowing demand for electric vehicles. The stock was down significantly more ahead of the company&#8217;s <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">quarterly results</a> this week, but shares popped after CEO Elon Musk introduced an&nbsp;accelerated timeline for the launch of new models and talked about the development of an affordable vehicle. 
&#8220;People were concerned that he was going to abandon the idea of having a low cost car and go all in to robotaxis. That&#8217;s the reason the stock is down,&#8221; Baron said.
Tesla shares are now up about 10% for the week and Baron believes the stock is just getting started. He told CNBC that he hasn&#8217;t made much money owning Tesla over the last few years, but he expects that to change rather quickly. 
&#8220;I look around all the time and see everyone getting rich &#8230; I haven&#8217;t made a lot of progress in the last three years, so therefore — I think it&#8217;s like a rubber band — I&#8217;m going to catch up again,&#8221; he said. 
Check This Out: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38398667/tesla-bulls-praise-musks-q1-earnings-call-see-ev-giant-on-collision-course-with-ube">Tesla Bulls Praise Musk&#8217;s Q1 Earnings Call, See EV Giant On Collision Course With Uber And Lyft — But Critic Says &#8216;Christmas Just Came Early&#8217; For Bears</a>
Why TSLA Is Going To Surge: The reason Baron anticipates a swift rebound in Tesla shares is because of the direction the EV maker is heading. He specifically pointed to the low cost car initiative and the robotaxi plans as the main drivers of the impending stock surge he&#8217;s predicting.
Other companies are trying to develop robotaxis, but they are at a huge disadvantage to Tesla who has already sold 60 million cars and has millions of cars collecting data. The data is what is really valuable, Baron said. 
Everyone seems to believe Tesla is still far away from full self-driving and robotaxis. Baron, however, says those developments are coming very soon.
He told CNBC that he had visited Tesla last week and got to see how the latest software works, adding that it&#8217;s now advancing rapidly with the help of AI after being stuck for a few years. 
The stock will do something similar, Baron predicts. &#8220;Oh, it&#8217;s going to go up huge.&#8221; 
When asked when he expects it to &#8220;go up huge,&#8221; he said, &#8220;Now. I mean now is the bottom.&#8221;
TSLA Price Action: Tesla shares were up 2.52% at $166.22 at the time of publication, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: courtesy of Tesla.

Long Ideas

Trading Ideas

TSLA

Billionaire Ron Baron Calls The Bottom In Tesla Stock, Says Shares Will 'Go Up Huge' From Here: 'It's Like A Rubber Band'

Financial giants have made a conspicuous bullish move on Datadog. Our analysis of options history for Datadog (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DDOG#NASDAQ">DDOG</a>) revealed 13 unusual trades.
Delving into the details, we found 46% of traders were bullish, while 46% showed bearish tendencies. Out of all the trades we spotted, 7 were puts, with a value of $774,475, and 6 were calls, valued at $265,954.
<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 $82.5 to $160.0 for Datadog during the past quarter. 
<h3>Volume &amp; Open Interest Trends</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Datadog'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 Datadog's whale activity within a strike price range from $82.5 to $160.0 in the last 30 days. 
<h3>Datadog Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714070782_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>DDOG</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/24/24</td>
<td>$0.89</td>
<td>$0.81</td>
<td>$0.81</td>
<td>$95.00</td>
<td>$405.0K</td>
<td>15</td>
<td>5.0K</td>
</tr>
<tr>
<td>DDOG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/03/24</td>
<td>$23.25</td>
<td>$21.6</td>
<td>$21.6</td>
<td>$103.00</td>
<td>$92.8K</td>
<td>0</td>
<td>43</td>
</tr>
<tr>
<td>DDOG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/10/24</td>
<td>$6.05</td>
<td>$5.9</td>
<td>$5.95</td>
<td>$121.00</td>
<td>$92.2K</td>
<td>36</td>
<td>255</td>
</tr>
<tr>
<td>DDOG</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$2.9</td>
<td>$2.84</td>
<td>$2.89</td>
<td>$110.00</td>
<td>$86.7K</td>
<td>2.3K</td>
<td>0</td>
</tr>
<tr>
<td>DDOG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$7.0</td>
<td>$6.85</td>
<td>$7.0</td>
<td>$90.00</td>
<td>$72.8K</td>
<td>375</td>
<td>0</td>
</tr>
</tbody>
</table>

<h3>About Datadog</h3>
Datadog is a cloud-native company that focuses on analyzing machine data. The firm's product portfolio, delivered via software as a service, allows a client to monitor and analyze its entire IT infrastructure. Datadog's platform can ingest and analyze large amounts of machine-generated data in real time, allowing clients to utilize it for a variety of applications throughout their businesses.
Having examined the options trading patterns of Datadog, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Datadog's Current Market Status</h3>
<ul>
<li>With a trading volume of 1,702,704, the price of DDOG is down by -2.75%, reaching $123.57.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 12 days from now.</li>
</ul>
<h3>What Analysts Are Saying About Datadog</h3>
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $150.66666666666666.
<ul>
<li>In a positive move, an analyst from Wells Fargo has upgraded their rating to Overweight and adjusted the price target to $150. </li>
<li>An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $150. </li>
<li>Maintaining their stance, an analyst from Stifel continues to hold a Buy rating for Datadog, targeting a price of $152. </li>
</ul>
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 Datadog with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Markets

DDOG

Datadog Unusual Options Activity For April 25

Whales with a lot of money to spend have taken a noticeably bearish stance on Globe Life.
Looking at options history for Globe Life (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GL#NYSE">GL</a>) we detected 13 trades.
If we consider the specifics of each trade, it is accurate to state that 30% of the investors opened trades with bullish expectations and 38% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $73,490 and 11, calls, for a total amount of $756,589.
<h3>Predicted Price Range</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $40.0 to $80.0 for Globe Life over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Globe Life's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Globe Life's substantial trades, within a strike price spectrum from $40.0 to $80.0 over the preceding 30 days.
<h3>Globe Life Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714070776_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>GL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$7.5</td>
<td>$7.2</td>
<td>$7.21</td>
<td>$80.00</td>
<td>$144.2K</td>
<td>279</td>
<td style="text-align: right;">494</td>
</tr>
<tr>
<td>GL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$8.2</td>
<td>$7.8</td>
<td>$8.2</td>
<td>$80.00</td>
<td>$81.9K</td>
<td>279</td>
<td style="text-align: right;">291</td>
</tr>
<tr>
<td>GL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$8.3</td>
<td>$7.9</td>
<td>$8.2</td>
<td>$80.00</td>
<td>$81.9K</td>
<td>279</td>
<td style="text-align: right;">391</td>
</tr>
<tr>
<td>GL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$6.2</td>
<td>$6.0</td>
<td>$6.2</td>
<td>$75.00</td>
<td>$74.9K</td>
<td>1.9K</td>
<td style="text-align: right;">477</td>
</tr>
<tr>
<td>GL</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>05/17/24</td>
<td>$39.2</td>
<td>$38.0</td>
<td>$38.54</td>
<td>$40.00</td>
<td>$69.3K</td>
<td>289</td>
<td style="text-align: right;">30</td>
</tr>
</tbody>
</table>

<h3>About Globe Life</h3>
Globe Life Inc is an insurance holding company. It provides a variety of life and supplemental health insurance products and annuities to a broad base of customers. The company's core operations are organized into four reportable segments: life insurance, supplemental health insurance, annuities, and investments. Investment activities, conducted by the investment segment, focus on seeking investments with a yield and term appropriate to support the insurance product obligations. These investments generally consist of fixed maturities and, over the long term, the expected yields are considered when setting insurance premium rates and product profitability expectations.
<h3>Current Position of Globe Life</h3>
<ul>
<li>With a volume of 2,622,365, the price of GL is down -3.47% at $75.87. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 90 days.</li>
</ul>
<h3>Professional Analyst Ratings for Globe Life</h3>
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $105.0.
<ul>
<li>Maintaining their stance, an analyst from Keefe, Bruyette &amp; Woods continues to hold a Market Perform rating for Globe Life, targeting a price of $130. </li>
<li>Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for Globe Life, targeting a price of $130. </li>
<li>In a positive move, an analyst from Keefe, Bruyette &amp; Woods has upgraded their rating to Outperform and adjusted the price target to $110. </li>
<li>Consistent in their evaluation, an analyst from Truist Securities keeps a Hold rating on Globe Life with a target price of $80. </li>
<li>An analyst from Evercore ISI Group persists with their In-Line rating on Globe Life, maintaining a target price of $75. </li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Globe Life, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

This Is What Whales Are Betting On Globe Life

Stephens &amp; Co. analyst John Campbell reiterates First American Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FAF#NYSE">FAF</a>) with a Overweight and maintains $72 price target.

Stephens & Co. Reiterates Overweight on First American Financial, Maintains $72 Price Target

Whales with a lot of money to spend have taken a noticeably bullish stance on United Airlines Holdings.
Looking at options history for United Airlines Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) we detected 11 trades.
If we consider the specifics of each trade, it is accurate to state that 72% of the investors opened trades with bullish expectations and 18% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $126,282 and 8, calls, for a total amount of $518,400.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $25.0 to $55.0 for United Airlines Holdings over the last 3 months. 
<h3>Volume &amp; Open Interest Development</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in United Airlines Holdings's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to United Airlines Holdings's substantial trades, within a strike price spectrum from $25.0 to $55.0 over the preceding 30 days.
<h3>United Airlines Holdings 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714070771_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>UAL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$3.2</td>
<td>$3.15</td>
<td>$3.2</td>
<td>$55.00</td>
<td>$222.0K</td>
<td>4.0K</td>
<td style="text-align: right;">22</td>
</tr>
<tr>
<td>UAL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$18.65</td>
<td>$18.55</td>
<td>$18.65</td>
<td>$34.00</td>
<td>$82.0K</td>
<td>30</td>
<td style="text-align: right;">4</td>
</tr>
<tr>
<td>UAL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$1.76</td>
<td>$1.75</td>
<td>$1.75</td>
<td>$53.00</td>
<td>$45.8K</td>
<td>2.8K</td>
<td style="text-align: right;">797</td>
</tr>
<tr>
<td>UAL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$4.5</td>
<td>$4.1</td>
<td>$4.5</td>
<td>$50.00</td>
<td>$45.0K</td>
<td>17.3K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>UAL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$4.25</td>
<td>$4.25</td>
<td>$4.25</td>
<td>$55.00</td>
<td>$42.5K</td>
<td>9.9K</td>
<td style="text-align: right;">51</td>
</tr>
</tbody>
</table>

<h3>About United Airlines Holdings</h3>
United Airlines is a major us network carrier with hubs in San Francisco, Chicago, Houston, Denver, Los Angeles, New York/Newark, and Washington, D.C. United operates a hub-and-spoke system that is more focused on international and long-haul travel than its large U.S. peers.
Having examined the options trading patterns of United Airlines Holdings, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Present Market Standing of United Airlines Holdings</h3>
<ul>
<li>Currently trading with a volume of 5,958,462, the UAL's price is up by 0.22%, now at $52.78. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 83 days.</li>
</ul>
<h3>Professional Analyst Ratings for United Airlines Holdings</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $67.0.
<ul>
<li>Consistent in their evaluation, an analyst from Raymond James keeps a Outperform rating on United Airlines Holdings with a target price of $70. </li>
<li>An analyst from Susquehanna has decided to maintain their Positive rating on United Airlines Holdings, which currently sits at a price target of $55. </li>
<li>An analyst from Susquehanna has decided to maintain their Positive rating on United Airlines Holdings, which currently sits at a price target of $60. </li>
<li>An analyst from Morgan Stanley persists with their Overweight rating on United Airlines Holdings, maintaining a target price of $80. </li>
<li>Maintaining their stance, an analyst from B of A Securities continues to hold a Buy rating for United Airlines Holdings, targeting a price of $70. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest United Airlines Holdings options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

United Airlines Holdings Unusual Options Activity For April 25

Barclays analyst Brandt Montour maintains Travel+Leisure (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNL#NYSE">TNL</a>) with a Equal-Weight and raises the price target from $44 to $48.

Barclays Maintains Equal-Weight on Travel+Leisure, Raises Price Target to $48

Barclays analyst Luke Sergott maintains Thermo Fisher Scientific (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMO#NYSE">TMO</a>) with a Equal-Weight and raises the price target from $590 to $615.

Barclays Maintains Equal-Weight on Thermo Fisher Scientific, Raises Price Target to $615

<div>Four million miles. That's roughly 160 trips around the world, or eight-and-a-half trips to the moon and back.</div>

Dale Williams, 65, may not be a jet pilot or astronaut, but he's certainly matched distances traveled in both professions over the course of his nearly 37-year career with XPO (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xpo#NYSE">XPO</a>). Earlier this month, XPO celebrated the Army veteran for driving 4 million miles.

On top of that, he drove every one of them without a single accident.

It's a feat that drivers in the trucking industry strive for, yet very few achieve. According to an article published in Truckers News, Perdue Farms celebrated its second driver to ever achieve 4 million accident-free miles in the company's 104-year history earlier this year. With the addition of Williams, XPO now also has two drivers who have reached the milestone in its 35-year history.

XPO recognized Williams' achievement on April 8 with a celebration at the company's service center in Knoxville, Tennessee. He was presented a new camo-wrapped tractor in honor of his military service, a $25,000 safe driving bonus, a trophy, varsity jacket and more.

Additionally, Williams was awarded a personalized ruby ring sporting four diamonds – one for each of the million miles he's driven safely over the course of his career.

"Dale is a true role model" Tim Staroba, president of XPO's East Division, told FreightWaves in an email. "He's well known at XPO and throughout the trucking industry for his commitment to safety, but also for sharing his wealth of knowledge with other drivers. Reaching four million accident-free miles is an incredible achievement that shows his dedication to our colleagues, customers and the motoring public. We're proud to have him on our team and grateful for his service to our country and company."

<h2 id="h-growing-up-army-green">Growing up Army green</h2>

Born in Orangeburg, South Carolina, Williams grew up just south of Columbia, South Carolina, in the town of Casey. There, he would join his high school's Army Reserve Officer Training Corps program and participate in the drill team, honor guard and rifle team.

"It was good prep for the military" Williams told FreightWaves. "It gave me a stripe when I went in."

After graduating from high school, Williams joined the Army as a Private E-2 and would earn the rank of Sergeant E-5 within two years. He spent most of his three years of service as a paratrooper stationed at Fort Bragg, North Carolina. After leaving the Army, he served one additional year in a signal battalion with the Army National Guard.

Following his military service, Williams would start trucking in 1980, hauling scrap metal and pulling mobile homes. He also did some maintenance as a handyman during this time. Eventually, he moved to Texas in 1985 where he worked in over-the-road trucking out of San Antonio for about six months.

"We [covered] everything but the East Coast" Williams said. "I slept in trucks, and it wasn't really for me. I came back home to South Carolina, and that's when I started hauling heavy equipment. … And that's where I met my wife, Karen. Her uncle was my bossman."

<h2 id="h-finding-a-career-with-xpo">Finding a career with XPO</h2>

Williams began work with XPO, then named Con-way Freight, in 1987.

"I was three months shy of opening day for the company" Williams said. "July will be 37 years I've been with the company."

He said that he enjoys doing less-than-truckload driving for XPO because of the work-life balance the job offers.

"I think most of your over-the-road drivers look for LTL companies to work for later on in their career so they can settle down with family a little bit and get into more of a routine" Williams said. "Five hundred to 600 miles [a trip] is about as far out as we can go because we're home every day."

<h2 id="h-safety-from-a-trucker-s-perspective">Safety from a trucker's perspective</h2>

Over the years, Williams has seen lots of changes in the trucking industry and with the driving public. One big change during his career was the invention of cellphones.

"When I first started trucking, CBs were your main communication on the road. When I left the house, I had a dime in my pocket in case something happened so I could make it to a phone and make a phone call for help. So the camaraderie and trucking was a lot better then. Not a lot of people run CBs as much anymore on the road. I guess everyone depends on cellphones."

Williams said that due to cellphones, more and more motorists are making driving their "second option" when they're on the road. He said that being aware of distracted drivers and conscious of lane position is important to stay accident-free.

As for advice to new truckers, Williams said healthy lifestyle habits are important for safe driving.

"The main thing that any driver needs to do starts at home" Williams said. "You have to get your rest, and family life is huge. You have to have a support system there. When I started driving with this company, I was running nights. With children at home trying to sleep during the day, my wife made sure we had blackout curtains in the windows and kept the kids quiet in another part of the house so I could get my rest."

Additionally, Williams keeps a rigid military mindset when it comes to punctuality at work.

"I always show up 30 minutes early so that I'm not rushed when I get there" he said. "I can relax and talk with the drivers around me. … Just setting the pace and taking it slow [is important]. Checking your equipment out properly and making sure you know what you're taking down the road is safe before you start your trip is extremely important."

<h2 id="h-big-recognition">Big recognition</h2>

Friends, family, co-workers and XPO executives weren't the only ones this month who celebrated Williams on this career milestone. He also received a congratulatory letter from Glenn Jacobs, mayor of Knox County, Tennessee, and former WWE wrestler "Kane."

Williams gave a big grin when he received the letter from his son's favorite childhood wrestling idol.

"[XPO] really puts an emphasis on these mile markers that you hit in your career, and that's a good thing for the drivers" Williams said. "For the junior drivers, it's an incentive to keep doing things the right way." 
Today, Greenwich, Connecticut-based XPO employs 13,000 drivers across 297 service centers in North America. The LTL business handles more than 13 million shipments per year made up of over 18 billion pounds of freight per year. In September 2022, XPO driver David Frazier was honored as the company's first driver to achieve 4 million accident-free miles. Frazier drives out of the service center in Kernersville, North Carolina.

The post <a href="https://www.freightwaves.com/news/one-long-trip-xpo-driver-achieves-4m-accident-free-miles">One long trip: XPO driver achieves 4M accident-free miles</a> appeared first on <a href="https://www.freightwaves.com">FreightWaves</a>.

Media

One Long Trip: XPO Driver Achieves 4M Accident-Free Miles

AT&amp;T Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) reported an earnings beat for the first quarter, while its <a href="https://www.benzinga.com/news/earnings/24/04/38410633/at-t-q1-earnings-beat-estimates-revenues-remain-flat-yy">revenues remained flat</a>.
The results came amid an <a href="https://www.benzinga.com/calendars/earnings">exciting earnings season</a>. Here are some key analyst takeaways from the release.
<h1 class="wp-block-heading">Scotiabank On AT&amp;T</h1>
Analyst Maher Yaghi reiterated a Sector Outperform rating while raising the price target from $22 to $22.50.
AT&amp;T's wireless performance is "off to a strong start," with 350K phone net additions during the quarter, "despite continued industry normalization in the U.S. wireless market," Yaghi said in a note.
"While pressures in the Business segment remain, growth in Consumer and Wireless are providing enough torque to produce significant FCFs to reduce leverage," the analyst stated. He added that the company recorded $3.1 billion in free cash flows during the quarter, materially higher than the Street expectation of $2.4 billion. 
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
<h1 class="wp-block-heading">BofA Securities On AT&amp;T</h1>
Analyst David Barden maintained a Buy rating and price target of $20.
"AT&amp;T once again meaningfully beat expectations on post-paid phone subscriber net adds, contributing to mounting evidence the wireless market is operating within a healthy competitive dynamic," Barden wrote in a note.
"The team continues to prioritize customer retention while investing in the &#8216;right&#8217; customers to achieve a diverse and value-accretive customer base," the analyst stated. 
He added that the company is likely to generate ARPU (average revenue per user) growth of around 1.0% sequentially in the second quarter, "as the vast majority of outage-related, one-time billing credits were charged in 1Q."
<h1 class="wp-block-heading">Oppenheimer On AT&amp;T</h1>
Analyst Timothy Horan reaffirmed an Outperform rating and price target of $21.
AT&amp;T&#8217;s results were broadly in-line with expectations, with subscriber growth and free cash flows coming in better than expectations, Horan said. "Its wireless network is better than ever, underscored by a strong performance in Mobility with 7% EBITDA growth and 9bps Y/Y improvement in churn," he added.
The company is likely to have the capacity to reduce debt by around $16 billion over the next two years, which is when it can begin repurchasing shares, the analyst stated.
T Price Action: Shares of AT&amp;T had declined by 1.40% to $16.58 at the time of publication on Thursday.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38439796/stocks-drop-tech-tumbles-with-metas-weak-outlook-q1-stagflation-fears-gold-miners-advance-">Stocks Drop, Tech Tumbles With Meta&#8217;s Weak Outlook, Q1 Stagflation Fears; Gold Miners Advance: What&#8217;s Driving Markets Thursday?</a>
Photo: Shutterstock

Earnings Misses

Movers

AT&T Makes Strong Start To The Year: Analysts Dial Into Q1 Results

Barclays analyst Lauren Lieberman maintains Estee Lauder Cos (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>) with a Equal-Weight and raises the price target from $146 to $150.

Barclays Maintains Equal-Weight on Estee Lauder Cos, Raises Price Target to $150

Source: <a href="https://www.streetwisereports.com/article/2024/04/18/vancouver-explorer-sees-district-scale-project-in-colo.html?utm_medium=feed">Streetwise Reports 04/18/2024</a>
Metallic Minerals Corp.&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/mmngf#OTC">MMNGF</a>) announces that all four holes drilled at its Newmont-backed La Plata project in Colorado intersected porphyry-style mineralization from the surface and over their entire lengths.
In releasing the final results from its 2023 drilling campaign at its La Plata copper-silver-gold-platinum group element (Cu-Ag-Au-PGE) project in southwestern Colorado, Metallic Minerals Corp. announced that all four holes intersected porphyry-style mineralization from the surface and over their entire lengths.
Three of four holes in the 4,530-meter program intercepted continuous porphyry style Cu-Ag-Au-PGE mineralization over 500 meters in width at 0.3% Cu, including significant intervals exceeding 0.5% to 0.7% Cu Eq (copper equivalent) with associated Ag, Au and PGEs. Drill hole LAP23-05 intersected 909 meters of continuous mineralization from surface, grading 0.26% Cu Eq over the entire hole length with a 550-meter-wide higher-grade zone.
The intensity of the mineralization in the drill holes varies based on the &quot;veining and concentration of associated sulfides that carry the copper, silver, gold, platinum, and palladium&quot; Metallic Minerals noted in a release.
&quot;Our emerging vision for the La Plata project is that we have the potential for a district-scale system with multiple porphyry centers in addition to the Allard resource area&quot; said President Scott Petsel. &quot;This is supported by the multi-kilometer scale metal-in-soil values that extend well beyond the area of drilling and correspond with strong alteration responses in our detailed district-scale airborne hyperspectral survey.&quot;
Newmont Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nem#NYSE">NEM</a>) &mdash; formerly Newcrest Mining Ltd. &mdash; invested CA$6.34 million in Metallic primarily to advance La Plata.
&quot;Newcrest was one of the first to recognize the potential (of La Plata) following the announcement of our discovery drill results in early 2023&quot; Metallic Minerals Chief Executive Officer Greg Johnson said.
<blockquote class="callOut left">These resources and results, combined with those from its flagship Keno property in the Yukon and an alluvial gold production royalty agreement signed with Parker Schnabel of the Discovery Channel&#39;s &quot;Gold Rush&quot; led Couloir Capital to rate the stock a Buy last year. In an updated research note on September 27, it set a fair value per share estimate of CA$0.74.</blockquote>
The company announced an expanded NI 43-101 resource in July 2023 for La Plata of 1.2 billion pounds copper (Cu) and 17.6 Moz silver (Ag) at an average grade of 0.41% Cu Eq, 0.37% Cu, and 3.72 g/t Ag, using a 0.25% Cu Eq cutoff grade.
The inaugural resource was based largely on historical drilling from which gold and platinum group element assays were not available. Metallic has stated it expects to add the full suite of precious metals to future resource updates.
These resources and results, combined with those from its flagship Keno property in the Yukon and an alluvial gold production royalty agreement signed with Parker Schnabel of the Discovery Channel&#39;s &quot;Gold Rush&quot; led Couloir Capital to rate the stock a Buy last year.
In an updated research note on September 27, it set a fair value per share estimate of CA$0.74.
Petsel said the company expects to grow the resource for the La Plata project. &quot;Our drill results indicate a significant opportunity for resource expansion and have continued to return both broad zones of mineralization and internal higher-grade zones with considerable precious metal associations showing elevated gold, platinum, and palladium values&quot; he said.
<h2>The Catalyst: Open at Depth, Along Trend</h2>
Metallic Minerals said the main Allard deposit area at La Plata remains open to expansion at depth and along trend. Defining the geometry of the mineralization remains an important focus of follow-up drilling this year. Significant high-grade results were also received in surface rock samples taken from more than 20 different target areas elsewhere across the La Plata project area during the 2023 field season as part of a surface mapping initiative. Three of these areas have advanced to a drill testing stage.
&quot;The 2023 exploration program was a major step forward in our understanding of the higher-grade controls to mineralization in the Allard resource area and in the advancement of several exciting surface target zones that demonstrate percent level copper with precious metals that have never been drill tested&quot; Petsel said.
<blockquote class="callOut right">There has been excitement in the silver market recently, and some analysts are bullish on the metal. After recently correcting from fresh highs of US$29.80, silver rebounded to US$28.78 on Wednesday.</blockquote>
Total drilling so far has extended mineralization vertically from surface to more than 1.5 kilometers and 1 kilometer along trend and, as noted, is anticipated to allow for inclusion of both gold and platinum group elements in future mineral resource estimates, along with copper and silver, the company said.
An advanced airborne hyperspectral survey covering 157 square kilometers has also been completed at the project, allowing for detailed mineral and alteration mapping across the entire district.
Metallic Minerals said the U.S. Geologic Survey has identified the La Plata mining district as a potential critical minerals resource area under the Earth Mapping Resources Initiative program.
<h2>Yukon Flagship Gets Technical Report</h2>
Metallic Minerals also recently filed the National Instrument 43-101 technical report for its inaugural mineral resource estimate for its 100%-owned flagship Keno silver project in the Yukon.
The estimate noted a combined underground and in-pit total from four deposits for the inferred resource of 2.5 million tonnes (Mt) at 223 grams per tonne silver equivalent (g/t Ag Eq), equating to 18.16 million ounces (Moz) of contained silver equivalent.
According to the company, underground inferred mineral resources include the Formo deposit, which contains 12.77 Moz Ag Eq (7.11 Moz Ag, 3,000 ouches gold (Au), 36.02 million pounds (Mlbs) lead (Pb), and 66.14 Mlbs zinc (Zn) within 1.08 Mt grading 369 g/t Ag Eq (206 g/t Ag, 0.08 g/t Au, 1.52% Pb, and 2.79% Zn).
The Formo deposit is directly adjacent to the highway and power lines that feed the central Keno Hill mill, which is operated by Hecla Mining Co. (HL:NYSE), the largest primary silver producer in Canada and the U.S.A., Metallic Minerals said. The Formo deposit directly adjoins Hecla&#39;s Keno Hill property, where Hecla is actively mining the nearby Bermingham deposit.
There has been excitement in the silver market recently, and some analysts are bullish on the metal. After recently correcting from fresh highs of US$29.80, silver rebounded to US$28.78 on Wednesday.
Silver is the most conductive element in nature. It&#39;s also important to the green economy transition because it&#39;s used to coat electrical contacts in computers, phones, cars, and appliances. It&#39;s also an important element in solar technology.
In an update last year, the World Silver Institute said there was a deficit of 140 million ounces (Moz) between supply and demand for silver in 2023, compared to 237.7 Moz in 2022. However, the institute also noted that global output shrunk by 2% in 2023.
&quot;Mined output over the longer term, four to five years out, is forecast to begin to decline&quot; the institute said in its World Silver Survey 2023. &quot;This will be due to losses from grade decline and reserve depletion at existing operations exceeding the new production that is expected to come online from the current project pipeline.&quot;
<h2>Ownership and Share Structure</h2>
About 17% of Metallic Minerals is owned by management and insiders, including CEO Johnson with 4.15 %, Independent Director Gregor Hamilton with 0.92%, and the president, Petsel, with 0.5%.
About 34% is owned by strategic investors, including Newmont&#39;s 9.32% and mining financier Eric Sprott, who owns 14.5%.
About 22% is owned institutionally. The rest, 27%, is retail.
Its market cap is CA$49.3 million, with 166.99 million shares outstanding, 123.02 million free-floating. It trades in a 52-week range of CA$0.44 and CA$0.24.
[SMNLINSERT]
Important Disclosures:
<ol>
<li>Metallic Minerals Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.</li>
<li>Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.</li>
<li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports&#39; terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.</li>
</ol>

Penny Stocks

Commodities

MMNGF

Vancouver Explorer Sees 'District-Scale' Project in Colo

<div>In what has been a difficult quarter for trucking companies, both truckload and to a lesser degree LTL, Covenant Logistics reported first-quarter operating earnings that held up relatively well.</div>

Covenant's adjusted earnings per share on a non-GAAP basis came in at 84 cents per share, down from 93 cents per share a year ago. According to SeekingAlpha, that figure beat the consensus forecast by 4 cents per share. But adjusted operating income, the most basic profitability measure, rose to $14.8 million from $12.62 million a year ago. 

That can be seen in the fact that Covenant's operating ratio as a whole on a non-GAAP basis improved to 94% from 94.6% in the first quarter of 2023. That OR takes into consideration not only the company's trucking activities but its managed freight operations, which houses its brokerage division, and its Warehouse segment. 

Net income was impacted by about $8.1 million in expenses related to last year's acquisition of poultry hauler Lew Thompson &amp; Son. The end result of that was net income of 29 cents per share, down from $1.20 per share on a GAAP basis. 

On the trucking side, the adjusted OR for its combined truckload operations deteriorated to 93.7% from 92.5%, a relatively small decline. The adjusted OR in the expedited division, which operates team drivers, was 93.9%, weakening from 91% in 2023's first quarter. But the adjusted OR in dedicated improved to 93.5% from 94.4%.

The adjusted OR in Covenant's brokerage improved to 96% from 97.9% a year ago. 

Covenant (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cvlg#NASDAQ">CVLG</a>) also managed to increase several key revenue metrics. Total revenue in the combined truckload operations rose to $190 million from $181.1 million including fuel, but net of fuel, the gain was higher, to $159.2 million from $148 million. But adjusted operating income fell to $10 million from $11.1 million.

<img alt="" src="https://www.freightwaves.com/wp-content/uploads/2024/04/24/covenant-1Q-2024.jpg" />

Although the company overall had a 4.5% increase in revenue, Covenant experienced a significant increase in expenses. Salaries and wages were mostly flat, just over $100 million after being just under that mark a year ago. 

Bit insurance and claims rose to $15.4 million from $12.7 million, general supplies and administration, known as GS&amp;A, climbed to $20.8 million from $13.6 million, and depreciation and amortization rose to $21.1 million from $14.6 million.

The end result is that expenses were $274.4 million compared to $249.2 million a year ago. However, last year's expenses were reduced in part by about $9.8 million in gains from property and equipment sales. 

The bottom line also was impacted by an increase in interest expenses to $3.34 million from $769,000 a year ago. But that was offset in part by a drop in income tax expense to $849,000 from $6.32 million a year ago. 

Adding it all up and net income dropped to $3.97 million from $16.63 million a year ago, for a drop in diluted net income per share to 29 cts/share from $1.20.

Operational metrics were mostly higher or less by a small amount. Average revenue per tractor per week rose 2.8% for the combined truckload operations, while average revenue per total mile dropped 1.7%. But utilization, defined as average miles per tractor per period, climbed 5.4% for the combined operations, to 31,201 miles from 29,613 miles.

Utilization for Dedicated was up about 2%, to 20,657 miles for the quarter. But in the Expedited division, it climbed 6.64% to 46,046 miles.

In the prepared statement accompanying the earnings release, President Paul Bunn spelled out some of the reasons for the increase in expenses, breaking it down on its impact on truckload operations. 

He said the increase in insurance worked out to 6 cents per mile "as a result of increases in current period claims expense and the development of prior period claims." Covenant self-insures most of its exposure to claims. "Given our self-insurance limits, the amount of expense recognized from period to period can fluctuate" Bunn said in the statement. 

The higher depreciation charges were as a result of "operating newer more costly equipment and a reduction of gains on the sale of used equipment" Bunn said. 

David Parker, Covenant's chairman and CEO, echoed an overview of the first quarter heard by multiple companies in the last several days. 

"The first quarter's freight market, consisting of freight rates and volumes, remained soft and in many ways comparable to a year ago" he said. "Adding to the general market headwinds, used equipment prices continued to decline and adverse weather conditions experienced in January created incremental cost and operational challenges."

Parker wrapped up the company's statement with a cautionary observation about the future. "Although we believe freight market fundamentals are slowly improving, the second quarter has provided little evidence of a 2024 recovery" he said.

The post <a href="https://www.freightwaves.com/news/covenants-operating-numbers-mostly-hold-up-in-challenging-first-quarter">Covenant's operating numbers mostly hold up in challenging first quarter</a> appeared first on <a href="https://www.freightwaves.com">FreightWaves</a>.

Small Cap

CVLG

Covenant's Operating Numbers Mostly Hold Up in Challenging First Quarter

Source: <a href="https://www.streetwisereports.com/article/2024/04/18/field-work-points-to-copper-porphyry-at-idaho-asset.html?utm_medium=feed">Streetwise Reports 04/18/2024</a>
To prove this out, the Canadian company plans additional exploratory work, to commence next month. Read on to learn more about this compelling project.
NevGold Corp. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/nauff#OTC">NAUFF</a>) completed a geological review and 3D model update of its newly staked Zeus project in southwestern Idaho&#39;s emerging Hercules Copper District, results of which are favorable and encouraging, the company announced in a news release.
The results from the geographical review and 3D model showed significant copper porphyry potential at the Zeus Copper Project. The project is incredibly similar to the Hercules Silver Corp. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/badef#OTC">BADEF</a>) copper porphyry discovery at the Hercules Project.
These similarities are highlighted in the press release:
<ul>
<li>Both projects have Triassic age plutons, the likely source of the copper porphyry</li>
<li>Both projects have Olds Ferry terrane rocks, including the Hercules Rhyolite</li>
<li>Both projects have a cover sequence of Izee terrane rocks, including the Weatherby Formation</li>
<li>Both projects are located along the Bayhorse Thrust Fault, a major structural corridor, which places Izee Terrane rocks (Weatherby Formation) overtop of Olds Ferry terrane rocks (Huntington Formation)</li>
<li>Both projects have abundant mineral occurrences and historical mine workings.</li>
<li>Both projects are erosional windows through the post-mineral Columbia River basalts that cover the vast majority of the Hercules Copper Trend</li>
</ul>
&quot; All of the geological signatures that we encountered through our geological review and time in the field solidify our view that Zeus has very strong copper porphyry potential and is some of the most strategic ground in this emerging Hercules Copper Trend.&quot; President and Chief Executive Officer Brandon Bonifacio said in the release.
&quot;One of the most important rules with copper porphyries is that where there is one, there are others&quot; Carlisle Kane, editor/publisher of The Equedia Letter, wrote in an <a href="https://www.equedia.com/another-way-to-profit-hercules-discovery/" rel="noopener" target="_blank">April 4 article </a>on NevGold.
<img alt="" class="No_img_class" src="https://www.theaureport.com/images/auto_up/2024417103940_1.png" style="height:795px; width:702px" />
Source: NevGold
The company&#39;s recent dive into Zeus included detailed assessments of historical records, compilations and reinterpretation of numerous published geological maps, creation of a 3-D geological model, and analysis of rock chip samples collected by the NevGold Team while staking the mineral claims over the past six months.
&quot;This has provided a major advantage in being able to rapidly advance the project&quot; Vice President of Exploration Derick Unger said in the release.
Zeus is about 120 km northwest of its capital, Boise, in an area with existing road, water, and power infrastructure but limited modern exploration described Stephan Bogner of Rockstone Research in a March 18 initiation report.
The project is in a historically known copper-producing district in the top mining jurisdiction of Idaho, known for its geological potential, low geopolitical risk, and favorable mining regulation, taxation, and political support.
<h2>Strong Upside, Resource Growth Potential</h2>
NevGold is a mining explorer-developer targeting large-scale mineral systems in mining districts in Idaho, Nevada, and British Columbia. Along with Zeus, the company owns three &quot;near-surface, heap-leachable gold projects with significant resource growth upside&quot; Bogner wrote.
One of them, 40 kilometers southeast of Zeus, also in Idaho, is Nutmeg Mountain, a low-sulfidation epithermal gold deposit spanning 1,724 ha. It has a current mineral resource, updated last June, of 1,006,000 ounces of 0.61 grams per ton (0.61 g/t) gold in the Indicated category and 275,000 ounces of 0.48 g/t gold in the Inferred category. The company also said Nutmeg Mountain offers significant upside for exploration.
&quot;The asset has attractive scale&quot; Bogner wrote in an April 4 research report.
NevGold also owns 100% of Limousine Butte, a Carlin-style gold deposit in Nevada, another top-tier mining jurisdiction. The 6,650 ha project boasts historical resources and recent intercepts on drilling of 2.19 g/t gold oxide over 61.6 meters (61.6m) and 0.86 g/t gold oxide over 175.2m, Bogner reported. Last year, NevGold created a new geological model of the project and identified a series of high-priority drill targets, including Resurrection Ridge, Cadillac Valley, West Cadillac, and Coffee Mug.
About 300 km south-southeast of Limousine Butte is Cedar Wash, the company&#39;s other asset in Nevada. Spanning 3,904 ha, this high-potential project, as described by Bogner, hosts both Carlin-style gold and gold-bearing quartz-calcite veins.
Advancing all of these projects is a group of well-qualified and skilled professionals, the company said. Together, they have 175 years of broad experience and success in the mining industry, including progressing properties from exploration to construction.
<h2>Copper on Upward Trajectory</h2>
Copper is one of the metals that is critical to and in demand due to the green energy transition, given its use, for example, in electric vehicles, power grids, and solar energy turbines.
The base metal now, according to Citi analysts, is in a bull market, its second in the 21st century, CNBC reported in an April 10 article.
Accordingly, copper prices are going up, Bogner pointed out. Since early February, copper futures prices rose 13%, to US$9,560 per ton from US$8,483.
&quot;As having broken the resistance recently, a longer-term upward trend is anticipated&quot; he wrote.
Of the same belief, Morgan Stanley just increased its forecast for the copper price by 12%, now expecting it to hit US$10,500 per ton by Q4/24, according to an April 10 article.
The near-term supply-demand imbalance is what is driving up copper prices, according to the investment bank. Disruptions from weather and power generation continue to hamper new copper supply, and reduced production at Chinese smelters is anticipated to likely decrease supplies of refined copper. Consequently, mined copper output in 2024 will be 0.7% lower than last year, resulting in a 700,000-ton undersupply, estimated Morgan Stanley.
Beyond this year, Citi analysts indicated in a research note they expect copper prices to keep climbing, as high as US$12,000 in 2026, noted CNBC.
&quot;Explosive price upside is possible over the next two to three years too, if a strong cyclical recovery occurs at any time, with prices potentially rising more than two-thirds to US$15,000-plus per ton in this, our bull case scenario&quot; the analysts wrote.
<h2>The Catalyst: Field Program</h2>
The next potential stock-moving event for NevGold is the completion of the next steps of its robust field program at Zeus, preparations for which are now in progress.
NevGold intends to carry out comprehensive surface geochemical sampling in addition to geophysics, such as magnetics, gravity, electromagnetic, controlled source audio-frequency magnetotellurics, or induced polarization. Should any potential targets be identified through these efforts, the company will then rapidly advance to drill them. [OWNERSHIP_CHART-10234]
It plans to start the work next month, in May, &quot;as the snow melts and the conditions improve&quot; Unger said. &quot;The main focus now is rapidly advancing the project over the coming weeks and months.&quot;
<h2>Ownership and Share Structure</h2>
According to NevGold, its strength is &quot;a financial groundwork that supports exploration success&quot; including strong insider ownership, a tight capital structure, and a strong balance sheet.
About 37% of the company is now held by strategic investors, including GoldMining Inc., which now holds 29.4% of the company on an undiluted basis, and McEwen Mining Inc.
The company said about 30% is held by management and insiders. According to Reuters, these include Non-Executive Chairman Giulio T. Bonifacio with 7.3%, CEO Brandon Bonifacio with 6.7%, Independent Director Gregory French with 1.62%, and Independent Director Timothy Dyhr with 1.37%, Reuters said.
About 10% is held by institutions, and the rest is in retail.
As for its share structure, NevGold has 93.91M outstanding shares and 30M free float traded shares.
The company&#39;s market cap is CA$31.21 million. Its 52-week trading range is CA$0.24&minus;CA$0.50 per share.
Important Disclosures:
<ol>
<li>NevGold Corp. has a consulting relationship with an affiliate of Streetwise Reports, and pays a monthly consulting fee between US$8,000 and US$20,000.</li>
<li>As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of NevGold Corp.</li>
<li>Doresa Banning wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor.</li>
<li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports&#39; terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.</li>
</ol>

BADEF

NAUFF

Field Work Points to Copper Porphyry at Idaho Asset

<div>Knight-Swift Transportation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/knx#NYSE">KNX</a>) said it is focused on reducing costs throughout the organization. That includes culling trailer counts, as well as tractor counts in some areas, to improve asset utilization. It is prioritizing investment dollars toward the expansion of its less-than-truckload business in the near-term.</div>

Like many in the truckload arena, the company was busy adding trailing equipment in recent years to provide customers flexibility through trailer pools and to build out a power-only brokerage operation. It ended last year with more than 96,000 trailers. It entered the pandemic with just 58,300 although some of the equipment was acquired through acquisition. (It added more than 14,000 trailers when it acquired U.S. Xpress last year).

"I think our overarching strategy is still intact" said the company's new CEO Adam Miller on a Wednesday evening call with analysts. "There can be times when the market's really good that you can sometimes take your eye off the ball in a couple of areas on the cost side of the business."

Previously the chief financial officer, Miller was tapped for the position after Dave Jackson abruptly departed in late February. <script type="text/javascript">
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Knight-Swift reported a headline net loss of $2.6 million for the 2024 first quarter. Adjusted earnings per share were 12 cents, in line with the company's update last week in which it cut its first-half outlook by more than half.

The adjusted result excluded several acquisition-related costs and severance expenses. It included an 8-cent hit from the closure of its third-party insurance business. That business lost $125 million last year. Using a normalized tax rate, higher net interest expense (due to acquisitions) was an 8-cent headwind year over year (y/y) while lower gains on equipment sales were a 7-cent headwind.

<img alt="" src="https://www.freightwaves.com/wp-content/uploads/2024/04/24/Knight-Swift-KPI-table-consolidated.jpg" />

Table: Knight-Swift's key performance indicators – Consolidated

Miller said some volume was coming back to the network, noting a little seasonal lift in March and again in April. However, difficult rate negotiations have it walking away from unprofitable contract freight, forcing it to place more equipment in the spot market. That is expected to weigh on equipment utilization until the market eventually transitions to recovery.

During the first quarter, the company's TL segment reported a 26% y/y revenue increase (excluding fuel), all of which was tied to the U.S. Xpress acquisition. The unit's top line was off 11% when excluding the acquisition. Revenue per loaded mile fell 10% in the period as more equipment was placed in the spot market. <script type="text/javascript">
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The unit posted a 97.3% adjusted operating ratio, more than 1,000 basis points worse y/y and 340 bps worse than the fourth quarter. U.S. Xpress was roughly breakeven on the operating line in the period but its operations were a 120-bp drag on the TL unit's adjusted OR. The U.S. Xpress fleet saw "positive progress on contractual rates through bid activity" during the quarter.  

Management said it is roughly 40% through this year's bid season.

Miller said he wants the company to return to industry-leading margins during all points of a market cycle, pointing out that the TL unit's legacy operations averaged a 16.8% adjusted operating margin (83.2% OR) from the third quarter of 2020 through the recent quarter.

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The company reiterated adjusted EPS guidance of 26 to 30 cents for the second quarter (versus the previous 55-cent guide at the midpoint). It issued third-quarter adjusted EPS guidance of 31 to 35 cents compared to a consensus estimate of 46 cents at the time of the print. The outlook assumes no demand inflection outside of normal seasonal trends.

Truckload revenue is expected to build sequentially through the third quarter with a mid-90% OR in the legacy business in the next two quarters. U.S. Xpress is expected to again see breakeven results in the second quarter, posting a high-90% OR in the third quarter.

<img alt="" src="https://www.freightwaves.com/wp-content/uploads/2024/04/24/Knight-Swift-KPI-Table-TL.jpg" />

Table: Knight-Swift's key performance indicators – TL

Knight-Swift will focus on investment in its less-than-truckload business. It opened seven new locations in the quarter with plans to open another 25 by the end of the year. It acquired some of these properties at auction from Yellow Corp. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/yellq#OTC">YELLQ</a>). It added 14 LTL terminals to the network last year.

The LTL unit reported a 13% y/y increase in revenue as shipments per day increased 6% and revenue per shipment excluding fuel surcharges increased 8%. A 90% adjusted OR was 430 bps worse y/y and 450 bps worse than the fourth quarter. Most of the deterioration is tied to growth initiatives and onboarding incremental capacity. Also, adverse winter weather negatively impacted expenses, however, the unit saw adjusted OR improvement throughout the quarter and into early April.

Knight-Swift plans to grow the LTL operating to $2 billion in annual revenue through organic terminal additions and acquisitions. The unit generated $942 million in revenue over the last four quarters.

<div>
<img alt="" src="https://www.freightwaves.com/wp-content/uploads/2024/04/24/Knight-Swift-KPI-table-LTL.jpg" />
</div>

Table: Knight-Swift's key performance indicators – LTL

The logistics segment reported a 97.1% adjusted OR, which was 670 bps worse y/y. Loads were down 10% y/y even with the acquisition of U.S. Xpress' brokerage operations. A mid-90% OR is forecast in the near term.  

The intermodal segment reported a fourth straight operating loss in the quarter as revenue per load plummeted. The unit is expected to be operating near breakeven by the third quarter.

The goal is for both segments to operate at high-single to low double-digit operating margins over time. 

<img alt="" src="https://www.freightwaves.com/wp-content/uploads/2024/04/24/Knight-Swift-KPI-table-logistics-and-intermodal.jpg" />

Table: Knight-Swift's key performance indicators – Logistics and Intermodal

The post <a href="https://www.freightwaves.com/news/knight-swift-focuses-on-cost-reductions-asset-utilization">Knight-Swift cutting costs, focuses on asset utilization </a> appeared first on <a href="https://www.freightwaves.com">FreightWaves</a>.