KraneShares MSCI One Belt One Road Index ETF (ARCA: OBOR)

Latest News for KraneShares MSCI One Belt One Road Index ETF (ARCA:OBOR)

KraneShares MSCI One Belt One Road Index ETF

Despite a Delaware judge voiding&nbsp;Elon Musk&#8216;s record-breaking 2018 pay package in January, citing unfairness to investors,&nbsp;Tesla, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has secured a critical supporter&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38288360/breaking-tesla-shareholders-to-vote-again-on-ceo-elon-musks-voided-47b-pay-package" rel="noreferrer noopener">for its reinstatement</a>:&nbsp;T. Rowe Price, the company&#8217;s tenth-largest shareholder.
What Happened: This backing from a major investor, as reported by Reuters, adds a significant layer of intrigue to the upcoming special vote at Tesla&#8217;s June 13 annual shareholder meeting. The vote seeks re-approval of the 2018 compensation plan, which the court deemed unfair due to the board&#8217;s negotiation process.
T. Rowe Price stands in stark contrast to the court&#8217;s decision. In a statement, the investment firm underscored its belief that&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/01/36859717/elon-musk-sours-on-delaware-after-judge-strikes-down-56b-package-asks-x-followers-if-tesla-should-ch" rel="noreferrer noopener">the 2018 plan</a>&nbsp;aligned with the interests of long-term investors. They further emphasized Musk&#8217;s success in fulfilling the ambitious goals outlined in the original agreement.
Why It Matters:&nbsp;This position by T. Rowe is noteworthy&nbsp;considering&nbsp;their significant stake in Tesla.&nbsp;
With 22.4 million shares held as of Dec. 31, their vote carries substantial weight. Their support suggests confidence in Musk&#8217;s leadership and the long-term value-creation potential&nbsp;tied to&nbsp;the performance-based pay package.
While Tesla argues the court&#8217;s decision left Musk uncompensated for the past six years, and the board chair echoed concerns about fairness, the focus now shifts to the broader investor base.&nbsp;
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More: <a href="https://www.benzinga.com/government/24/04/38331377/tesla-recalls-over-3-800-cybertrucks-citing-unintended-acceleration-risk">Tesla Recalls Over 3,800 Cybertrucks, Cites Unintended Acceleration Risk</a>
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TSLA

Tesla Shareholder Vote: Musk Receives Backing From 10th Biggest Investor For Pay Plan — Will Others Follow?

Guidance

American Express CFO Says We Are On Track To Increase Marketing Spend In 2024 Versus Last Year

On <a href="https://www.benzinga.com/topic/mad-money">CNBC's &#8220;Mad Money Lightning Round,&#8221;</a> Jim Cramer recommended holding ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>)
Rhythm Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RYTM#NASDAQ">RYTM</a>) is a &#8220;speculative play,&#8221; Cramer said, &#8220;I am not against speculating biotechs right now. Looks like that there are so many bids, I'm willing to let a stock catch fire.&#8221;
The &#8220;Mad Money&#8221; host recommended buying some Marvell Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) and then wait until under $60 to buy the rest.
When asked about Enovix Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENVX#NASDAQ">ENVX</a>), he said, &#8220;You got to be making some money in that business. If you're not making any money in that business, then I can't say to buy the stock.&#8221;
Cramer said he likes Lam Research Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) very much. &#8220;I do think that right now we're having a pause in that group,&#8221; he added. &#8220;Let's wait until that stock goes lower, and we'll feel better.&#8221;
Aspen Aerogels, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASPN#NYSE">ASPN</a>) is &#8220;up so big, and what a great opportunity to sell the stock of a money-losing company after you've made a lot of money,&#8221; Cramer said. He recommended taking the profit.
Cramer recommended not selling McKesson Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCK#NYSE">MCK</a>).
When asked about The PNC Financial Services Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>), he said, &#8220;You buy some now, and you buy some down 10%, and you will have a terrific position that will last for a very long time.&#8221;
Vale S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>) is too low to sell, Cramer said.
Price Action:
<ul>
<li>ConocoPhillips shares fell 0.4% to settle at $127.81 on Thursday.</li>
<li>Enovix shares dipped 9.4% to close at $6.01.</li>
<li>Vale shares fell 0.1% to settle at $11.84 on Thursday.</li>
<li>PNC shares gained 0.4% to close at $147.89 on Thursday.</li>
<li>McKesson shares slipped 1.4% to settle at $518.81 on Thursday.</li>
<li>Shares of Aspen Aerogels fell 1.7% to settle at $14.82 on Thursday.</li>
<li>Rhythm Pharmaceuticals shares fell 0.9% to close at $38.11 on Thursday.</li>
<li>Marvell Technology shares fell 1.9% to settle at $65.24 during Thursday's session.</li>
<li>Lam Research shares fell 2.6% to close at $888.92.</li>
</ul>
Read More: <a href="https://www.benzinga.com/news/earnings/24/04/38329059/netflix-procter-gamble-and-3-stocks-to-watch-heading-into-friday">Netflix, Procter &amp; Gamble And 3 Stocks To Watch Heading Into Friday</a>
Image: Shutterstock

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Jim Cramer Is 'Willing To Let This Pharma Stock Catch Fire,' Advises Not To Sell McKesson

WIIM

AGBA

AGBA Group shares are trading higher on continued upward momentum after the company announced it entered into a definitive merger agreement with Triller.

The French industrial giant&nbsp;Schneider Electric&nbsp;SE&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SBGSY#OTC">SBGSY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SBGSF#OTC">SBGSF</a>) has&nbsp;<a target="_blank" href="https://www.se.com/ww/en/assets/564/document/465961/schneider-electric-press-release-19-04-2024.pdf" rel="noreferrer noopener">confirmed&nbsp;</a>holding discussions for a potential acquisition of&nbsp;Bentley Systems&nbsp;Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BSY#NASDAQ">BSY</a>), a company known for its engineering software solutions.&nbsp;
As per the Schneider Electric statement, discussions regarding a potential transaction remain at a preliminary stage, emphasizing the lack of certainty regarding the outcome of these talks.
Bentley Systems also acknowledged the&nbsp;public statement&nbsp;made today by Schneider Electric&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38331965" rel="noreferrer noopener">in response to recent market speculation.</a>
Earlier, The&nbsp;Wall Street Journal&nbsp;<a target="_blank" href="https://www.wsj.com/business/deals/schneider-electric-in-talks-to-take-control-of-bentley-systems-d0aad58f?mod=hp_lista_pos2" rel="noreferrer noopener">reported&nbsp;</a>that Schneider Electric and Bentley Systems are considering merging Schneider&#8217;s software business with Bentley, potentially resulting in a deal exceeding $15 billion.&nbsp;
Despite the potential merger, Bentley&nbsp;is expected&nbsp;to remain a publicly traded entity, albeit significantly&nbsp;larger&nbsp;than before.
Bentley Systems, a family-controlled company co-founded by brothers Keith and Barry Bentley in 1984, specializes in providing software for structural and civil engineers involved in infrastructure projects.
Their software&nbsp;is utilized&nbsp;across various sectors, including transportation, water treatment, and construction.
With an annual revenue surpassing $1 billion, Bentley Systems went public in 2020. The recent leadership transition saw Chief Executive Greg Bentley assuming the role of executive chair of the board of directors, with Nicholas Cumins set to become the<a target="_blank" href="https://www.benzinga.com//node/37867934" rel="noreferrer noopener">&nbsp;new chief executive effective July 1.</a>
According to the report, Schneider Electric, valued at approximately $127 billion, has a history of strategic acquisitions to bolster its industrial software portfolio, aiming to compete with industry giants like&nbsp;Siemens&nbsp;AG&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SIEGY#OTC">SIEGY</a>) and&nbsp;Rockwell Automation Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROK#NYSE">ROK</a>).
The potential acquisition of Bentley Systems follows Schneider&#8217;s earlier move in 2017 when it acquired the British&nbsp;engineering-software&nbsp;provider&nbsp;Aveva Group.
Price Action: BSY, which closed higher by 3.89% at $52.06 on Thursday, is trading lower by 0.12% at $52 premarket Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

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What's Going On With Bentley Systems Stock Amid Multibillion-Dollar Merger Talks?

Tech billionaire and X owner <a href="https://www.benzinga.com/topic/elon-musk">Elon Musk</a> has issued a stern warning to users doing &#8220;engagement farming&#8221; activities on his social media platform.
What Happened: Musk has warned users on X, formerly Twitter, about the consequences of &#8220;engagement farming&#8221; and has threatened to suspend the accounts involved.
"Any accounts doing engagement farming will be suspended and traced to source."
Engagement farming refers to the practice of artificially boosting the engagement metrics of an account, such as likes, retweets, and followers, through the use of automated systems or other means.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/04/38243800/another-setback-for-elon-musk-after-ccdh-lawsuit-thrown-out-media-matters-wins-injunction-against-te" target="_blank" rel="noreferrer noopener">Another Setback For Elon Musk: After CCDH Lawsuit Thrown Out, Media Matters Wins Injunction Against Texas AG's Investigation</a>
On Friday, Musk took to X to address this issue. Accounts found to be artificially boosting engagement metrics could be suspended. A similar policy is also applied on Reddit, where users who engage in vote brigading are suspended.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Musk did not elaborate on the methods that would be used to trace the source of the engagement farming activities.
<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">Any accounts doing engagement farming will be suspended and traced to source
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1781183251731677264?ref_src=twsrc%5Etfw">April 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Musk&#8217;s warning comes as a response to the increasing prevalence of fake accounts and automated systems on social media platforms, which are used to artificially inflate the popularity of certain users or content.
On Monday, Musk announced that X will start charging a "small fee" to allow new users to post on the social media platform to <a href="https://www.benzinga.com/news/24/04/38264187/elon-musk-says-charging-new-x-users-a-small-fee-is-the-only-way-to-curb-bot-onslaught">curb the onslaught of bots</a>.
This was after a test that X carried out in New Zealand and the Philippines in November. Musk&#8217;s X&nbsp;<a href="https://www.benzinga.com/news/23/10/35300682/just-joining-elon-musks-x-you-will-now-have-to-shell-out-1-for-proper-access-if-you-live-in-these-tw" target="_blank" rel="noreferrer noopener">introduced a $1 annual subscription fee</a> as part of the "Not A Bot" program to mitigate spam, manipulation, and bot activity.
Check out more of Benzinga's Future Of Consumer Tech by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next: <a href="https://www.benzinga.com/news/24/04/38111017/tesla-ceo-elon-musk-disagrees-with-nvidias-jensen-huang-that-anyone-can-make-their-own-neural-networ?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla CEO Elon Musk Disagrees With Nvidia&#8217;s Jensen Huang That Anyone Can Make Their Own Neural Network</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Social Media

Elon Musk Says Accounts Doing 'Engagement Farming' On X Will Be Suspended

LUNA

Luna Innovations shares are trading lower after the company announced the restatement of financial statements due to identified accounting errors relating to revenue recognition.

Jefferies analyst Brent Thill maintains Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) with a Buy and raises the price target from $175 to $180.

Price Target

Analyst Ratings

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GOOGL

Jefferies Maintains Buy on Alphabet, Raises Price Target to $180

Goldman Sachs analyst George Tong maintains Equifax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFX#NYSE">EFX</a>) with a Neutral and lowers the price target from $276 to $241.

Goldman Sachs Maintains Neutral on Equifax, Lowers Price Target to $241

Innovative Industrial Properties, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IIPR#NYSE">IIPR</a>) shares closed slightly <a href="https://www.benzinga.com/real-estate/reit/24/02/37095768/3-high-yield-reits-with-the-best-total-return-over-the-past-three-months">higher during Thursday's session</a>.
On March 15, Innovative Industrial Properties said its board of directors declared a first-quarter 2024 dividend of $1.82 per share of common stock.
The San Diego-based company reported better-than-expected earnings results for its fourth quarter on Feb. 26, 2024. Piper Sandler analyst Alexander Goldfarb maintained Innovative Industrial Properties with a Neutral and raised the price target from $85 to $103 following the release of quarterly earnings.
With the recent buzz around Innovative Industrial Properties, some investors may be eyeing potential gains from the company's dividends. As of now, Innovative Industrial Properties has a dividend yield of 7.75%, which is a quarterly dividend amount of $1.82 a share ($7.28 a year).
To figure out how to earn $500 monthly from Innovative Industrial Properties, we start with the yearly target of $6,000 ($500 x 12 months).
Next, we take this amount and divide it by Innovative Industrial Properties' $7.28 dividend: $6,000 / $7.28 &nbsp;= 824 shares
So, an investor would need to own approximately $77,357 worth of Innovative Industrial Properties, or 824 shares, to generate a monthly dividend income of $500.
Assuming a more conservative goal of $100 monthly ($1,200 annually), we do the same calculation: $1,200 / $7.28 = 165 shares, or $15,490 to generate a monthly dividend income of $100.
Also Read: <a href="https://www.benzinga.com/news/24/04/38289255/crowdstrike-wayfair-and-2-other-stocks-insiders-are-selling">CrowdStrike, Wayfair And 2 Other Stocks In</a><a href="https://www.benzinga.com/news/24/04/38289255/crowdstrike-wayfair-and-2-other-stocks-insiders-are-selling">siders Are Selling</a>
Note that dividend yield can change on a rolling basis, as the dividend payment and the stock price both fluctuate over time.
The dividend yield is calculated by dividing the annual dividend payment by the current stock price. As the stock price changes, the dividend yield will also change.
For example, if a stock pays an annual dividend of $2 and its current price is $50, its dividend yield would be 4%. However, if the stock price increases to $60, the dividend yield would decrease to 3.33% ($2/$60).
Conversely, if the stock price decreases to $40, the dividend yield would increase to 5% ($2/$40).
Further, the dividend payment itself can also change over time, which can also impact the dividend yield. If a company increases its dividend payment, the dividend yield will increase even if the stock price remains the same. Similarly, if a company decreases its dividend payment, the dividend yield will decrease.
IIPR Price Action: Shares of Innovative Industrial Properties rose 0.3% to close at $93.88 on Thursday.
Read More: <a href="https://www.benzinga.com/news/24/04/38322367/wall-streets-most-accurate-analysts-views-on-3-utilities-stocks-delivering-high-dividend-yields">Wall Street&#8217;s Most Accurate Analysts&#8217; Views On 3 Utilities Stocks Delivering High-Dividend Yields</a>

Long Ideas

Markets

Trading Ideas

IIPR

How To Earn $500 A Month From Innovative Industrial Properties Stock

Jefferies analyst David Windley maintains Elevance Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELV#NYSE">ELV</a>) with a Buy and raises the price target from $602 to $604.

streetTRACKS Dow Jones U.S. Large Cap Value Index Fund

Jefferies Maintains Buy on Elevance Health, Raises Price Target to $604

CLIR

ClearSign Technologies Prices Underwritten 4,620,760 Share Offering At $0.91/Share And $0.01 Per Accompanying Warrant

Barclays analyst Andrew Mok maintains Elevance Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELV#NYSE">ELV</a>) with a Overweight and raises the price target from $584 to $621.

Barclays Maintains Overweight on Elevance Health, Raises Price Target to $621

NFLX: -7% &#x7C;&nbsp;<a href="https://www.benzinga.com//node/38331078">Netflix shares are trading lower after the company reported Q1 financial results.</a>
CNS: 7% &#x7C;&nbsp;<a href="https://www.benzinga.com//node/38331277">Cohen &amp; Steers shares are trading higher after it was announced the stock will join the S&amp;P SmallCap 600.</a>
RWOD: 217% &#x7C;&nbsp;<a href="https://www.benzinga.com//node/38332302">Redwoods Acquisition shares are trading higher after the company announced that shareholders approved its merger agreement with Anew Medical.</a>

NFLX

RWOD

Market-Moving News for April 19th

Burke &amp; Herbert Annual Shareholder Meeting Date Established
ALEXANDRIA, Va. and MOOREFIELD, W.Va., April 19, 2024 /PRNewswire/ --&nbsp;Burke &amp; Herbert Financial Services Corp. ("Burke &amp; Herbert") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BHRB#NASDAQ">BHRB</a>) and Summit Financial Group, Inc. ("Summit") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMMF#NASDAQ">SMMF</a>) today announced receipt of all required regulatory approvals or waivers necessary to complete the previously announced merger of equals pursuant to the Agreement and Plan of Reorganization, dated as of August 24, 2023, by and between Burke &amp; Herbert and Summit. The merger is expected to close on May 3, 2024, pending satisfaction of customary closing conditions.
In addition, the Burke &amp; Herbert board of directors has established July 15, 2024, as the date for its annual shareholder meeting for shareholders of record as of May 7, 2024.&nbsp;

BHRB

SMMF

Burke & Herbert Financial Services Corp. And Summit Financial Group, Inc. Announce Receipt Of Regulatory Approvals And Closing Date Of May 3, 2024 For Merger Of Equals

LRHC

La Rosa Regains Nasdaq Compliance

Maxeon Solar Technologies, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAXN#NASDAQ">MAXN</a>), a global leader in solar innovation and channels, today announced that it has initiated a patent infringement lawsuit in the Eastern District of&nbsp;Texas&nbsp;against REC Solar Holdings AS, alleging its infringement of Maxeon patents relating to TOPCon (Tunnel Oxide Passivated Contact) solar cell technology.&nbsp;
Maxeon has a global patent portfolio of over 1,650 granted patents and more than 330 pending patent applications protecting the innovations underpinning its IBC (Interdigitated Back Contact), Shingled Hypercell, and TOPCon technologies.&nbsp;
"Intellectual property infringement sits alongside injurious dumping and subsidy-driven excess global production capacity as an unfair trade practice that distorts markets and tilts what should be a level playing field for global solar manufacturing," said Marc Robinson, Maxeon's Associate General Counsel. "Maxeon strongly supports fair competition and will continue to vigorously enforce the Company's patent rights in the United States and its other markets."&nbsp;

Legal

Maxeon Solar Technologies, Ltd. - Ordinary Shares

MAXN

Maxeon Solar Technologies Initiates TOPCon Patent Infringement Lawsuit Against REC Solar Holdings AS

HUBC

HUB Cyber Security Ltd. Addresses Dominion's Lawsuit, Files Counterclaim In New York Court Action, Alleging 'various misconduct by Dominion'

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.lunainc.com&amp;esheet=53939028&amp;newsitemid=20240419143535&amp;lan=en-US&amp;anchor=Luna+Innovations+Incorporated+%28NASDAQ%3A+LUNA%29&amp;index=1&amp;md5=80b7be9be6e1b08f178e2f65bcb269e4">Luna Innovations Incorporated (NASDAQ:</a><a href="https://www.benzinga.com/stock/LUNA#NASDAQ">LUNA</a>) (the "Company"), a global leader in advanced fiber optic-based technology, today announced that its Audit Committee of the Board of Directors (the "Audit Committee"), after consultation with the Company's management and the Special Committee's external legal and financial advisors, determined that its financial statements for the fiscal year ended December 31, 2022, and the interim periods ended March 31, 2022, June 30, 2022, and September 30, 2022 and March 31, 2023, cannot be relied upon and need to be restated due to identified accounting errors relating to revenue recognition. Similarly, any previously issued or filed reports, press releases, earnings releases, investor presentations or other Company communications describing the Company's financial results or other financial information relating to the fiscal year ended December 31, 2022, should no longer be relied upon.
As disclosed on <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fir.lunainc.com%2Fnews-releases%2Fnews-release-details%2Fluna-innovations-delay-release-fourth-quarter-and-full-year-2023&amp;esheet=53939028&amp;newsitemid=20240419143535&amp;lan=en-US&amp;anchor=March+12&amp;index=2&amp;md5=8568244218fd38dc2fe2a115f7d7d02e">March 12</a>, a Special Committee of the Company's Board of Directors has been conducting an independent review, with the assistance of external legal and financial advisors, of certain revenue recognition matters in connection with the Company's previously issued financial statements.
As the independent review remains ongoing and the full extent of this impact is still being determined, the Company cannot at this time estimate when it will file its restated financial statements. The Company is working diligently on this matter and will provide updated information as appropriate.

Earnings

Luna Innovations Announces Restatement Of Financial Statements; Says " Determined That Its Financial Statements For The Fiscal Year Ended Dec 31, 2022, Interim Periods Ended Mar 31, 2022, Jun 30, 2022, Sep 30, 2022 And Mar 31, 2023, Cannot Be Relied Upon And Need To Be Restated Due To Identified Accounting Errors Relating To Revenue Recognition"

Equifax Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFX#NYSE">EFX</a>) reported worse-than-expected first-quarter sales results and issued adjusted guidance <a href="https://www.benzinga.com/quote/EFX/earnings">below estimates on Wednesday</a>.
Equifax posted quarterly sales of $1.389 billion, missing market estimates of $1.400 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Equifax said it sees second-quarter adjusted earnings of $1.65 to $1.75 per share, versus market estimates of $1.87 per share. The company expects revenue of $1.41 billion to $1.43 billion, versus expectations of $1.44 billion.
&#8220;Equifax performed well in the first quarter against our EFX2026 strategic priorities in a very challenging mortgage market delivering revenue of $1.389 billion, up a strong 7%. Our U.S. mortgage business grew a strong 6% despite a 19% decline in USIS mortgage credit inquiries. Our non-mortgage business, which was about 80% of Equifax revenue in the first quarter, delivered very strong broad-based 9% local currency revenue growth, from continued strong new product performance with a New Product Vitality Index of 9% and 85% of new models and scores built using AI and ML. Workforce Solutions delivered very strong 15% non-mortgage Verification Services revenue growth led by the Government business, with 1% overall growth from the U.S. mortgage market decline,&#8221; said Mark W. Begor, Equifax Chief Executive Officer.
Equifax shares fell 8.5% to close at $217.51 on Thursday.
These analysts made changes to their price targets on Equifax following earnings announcement.
<ul>
<li>Baird cut the price target on Equifax from $275 to $260. Baird analyst Jeffrey Meuler maintained an Outperform rating.</li>
<li>JP Morgan lowered the price target on Equifax from $290 to $273. JP Morgan analyst Andrew Steinerman maintained an Overweight rating.</li>
</ul>
Read More: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38331943/insiders-buying-lovesac-company-and-3-other-stocks">Insiders Buying Lovesac Company And 3 Other Stocks</a>

Equifax Analysts Cut Their Forecasts After Q1 Results

Interest Rates And Inflation And AI... Oh My! - Q2 2023 Commentary

3 Value Equity Themes For The End Of 2023

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Unlisted Infrastructure - Highway To Diversification

U.S. Real Estate Sector Fall 2023 Report: Four Quadrant Perspectives

Get (Real) Assets

KraneShares MSCI One Belt One Road Index ETF declares $0.688 dividend

Q4 2023 Active Management Review: Expectations Of Easing Propel Markets Higher

Strategic Reasons To Get Active

The Lure Of Infrastructure

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FMAG

FNGS

FPRO

FPXE

FRDM

FREL

FTAG

FTEC

FTSD

FTXL

FTXO

GAMR

GBIL

GBLD

GGRW

GINN

GLIF

GOVT

GQRE

GSEU

GSJY

GURU

GVIP

HACK

HEDJ

HEEM

HERO