Latest news for Pulsenmore (OTC:PLSSF) Stock

Pulsenmore Ltd is engaged in developing portable ultrasound devices for home use. Its ultrasound scanner dock's with patients' smartphones to deliver images that can be created anywhere, stored and forwarded for clinical review, or shared in an online consultation.

Pulsenmore Ltd

WIIM

IBTA

Ibotta shares are trading higher after Goldman Sachs upgraded the stock from Neutral to Buy and maintained its price target of $87.

SRRK

Scholar Rock Holding shares are trading higher after JP Morgan maintained an Overweight rating on the stock and raised its price target from $18 to $31.

Selling the news is a common trading strategy in which traders buy a stock in anticipation of expected news, then sell once the event occurs. It&#39;s a short-term strategy based on the psychology that the unknown is frequently better or worse than the known. Once traders have time to interpret the news, they find that it won&#39;t mean much for the long-term outlook for the stock.&nbsp;
But sometimes news happens unexpectedly. In this case, traders may buy a stock after the news is announced. But in many cases, these still turn out to be sell-the-news events. Although many long-term investors don&#39;t concern themselves too much with short-term news, they can still use this strategy to take some short-term profits if a stock becomes overbought.&nbsp;
This week, investors received news about three stocks that moved each stock higher in the immediate aftermath. However, 24 hours later, it&#39;s a good time for traders to examine the stocks and decide whether to buy the rally or take some profits. &nbsp;&nbsp;
<h2>Activist Investor Starboard Acquires $1 Billion Stake in Pfizer </h2>
Pfizer Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pfe#NYSE">PFE</a>) stock jumped over 4% on Monday, October 7, on the news that Starboard Value, an activist investor, had accumulated a $1 billion stake in the company. That&#39;s not newsworthy by itself, but the company plans to use its stake to force some changes at the pharmaceutical company.
At issue is the company&#39;s post-COVID-19 strategy, which has involved growth through acquisition. Under current chief executive officer (CEO) Albert Bourla, Pfizer has spent $70 billion in M&amp;A (mergers and acquisitions) since 2020. Many of these investments have not delivered an impressive return.&nbsp;
Starboard, which is enlisting the support of two former Pfizer executives, wants the company to return to a business model that emphasizes a disciplined financial posture and focuses on investing in novel drugs.&nbsp;&nbsp;
It&#39;s important to note that short interest in Pfizer stock was up 14.4% in the last 30 days. That means some of the spikes could be due to short covering. After the initial spike, Pfizer&#39;s stock returned about 0.5%. Despite the recent move, PFE stock has still been down 12.3% in the last 12 months.&nbsp;
<h2>Arcadium Lithium Could Become an Acquisition Target&nbsp;</h2>
The catalyst for the move in Arcadium Lithium plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/altm#NYSE">ALTM</a>) comes on the news that the Rio Tinto Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rio#NYSE">RIO</a>) has made a non-binding offer to acquire the lithium miner. ALTM stock is up more than 50% in the 48 hours since the news broke making it one of the leading performers among basic materials stocks.
Rio Tinto is already the world&#39;s second-largest mining company. It has been taking steps to increase its lithium production, including potentially building Europe&#39;s biggest lithium mine in Serbia. However, with those plans stalled, the company could be turning to growth through acquisition strategy. &nbsp;
Lithium is a core component needed for electric vehicle (EV) batteries, smartphones, and other electronic devices. Demand stalled in 2024 but is expected to remain strong for the rest of the decade. &nbsp;
Investors should note that the announcement did not include financial specifics. Because the offer is non-binding, it&#39;s difficult to speculate on Rio Tinto&#39;s degree of interest. That&#39;s not discouraging investors in the short term; analysts were already bullish on ALTM stock before the announcement. &nbsp;
<h2>Netflix Stock Remains Resilient in the Face of Downgrades&nbsp;</h2>
After falling over 2.5% on news that Barclay&#39;s downgraded its stock, Netflix Inc. is already approaching a new all-time high. That&#39;s because, on the same day that Barclay&#39;s downgraded the stock, TD Cowen reaffirmed its Buy rating on the stock and raised its price target from $775 to $820.
While maintaining a price target of $550 for NFLX stock, Barclay&#39;s lowered the company&#39;s ratings from Equal Weight to Underweight. That&#39;s the equivalent of a Sell rating. &nbsp;
The concern is over the streaming giant&#39;s valuation. Netflix currently trades at 49.9x earnings and 37.7x forward earnings. Netflix has faced this question before. At levels like this, it has to prove that it can grow earnings on a path that&#39;s consistent with that multiple.
For now, analysts believe the company will continue to capture market share based on its pricing power. And the revenue it generates from its ad-supported tier should support expectations for a 20% increase in earnings in the next 12 months.&nbsp;
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/these-3-stocks-just-spikedbuy-the-rally-or-sell-the-news/">These 3 Stocks Just Spiked&mdash;Buy the Rally or Sell the News?</a>&quot; first appeared on MarketBeat.

Biotech

Earnings

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Mid Cap

News

Short Ideas

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Price Target

Markets

Analyst Ratings

Trading Ideas

General

ALTM

These 3 Stocks Just Spiked—Buy the Rally or Sell the News?

Tigress Financial analyst Ivan Feinseth maintains Cisco Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) with a Buy and raises the price target from $76 to $78.

CSCO

Tigress Financial Maintains Buy on Cisco Systems, Raises Price Target to $78

Investors with a lot of money to spend have taken a bullish stance on Eaton Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETN#NYSE">ETN</a>).
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with ETN, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 9 options trades for Eaton Corp.
This isn't normal.
The overall sentiment of these big-money traders is split between 55% bullish and 33%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $214,800, and 8, calls, for a total amount of $562,310.
<h3>What's The Price Target?</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $270.0 to $500.0 for Eaton Corp during the past quarter. 
<h3>Insights into Volume &amp; Open Interest</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 Eaton Corp's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Eaton Corp's substantial trades, within a strike price spectrum from $270.0 to $500.0 over the preceding 30 days.
<h3>Eaton Corp Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728931538_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</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 style="text-align: right;">Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>ETN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$7.1</td>
<td>$6.9</td>
<td>$7.16</td>
<td>$330.00</td>
<td>$214.8K</td>
<td style="text-align: right;">257</td>
<td>331</td>
</tr>
<tr>
<td>ETN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$1.7</td>
<td>$1.35</td>
<td>$1.7</td>
<td>$500.00</td>
<td>$170.0K</td>
<td style="text-align: right;">40</td>
<td>1.0K</td>
</tr>
<tr>
<td>ETN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$37.0</td>
<td>$34.5</td>
<td>$35.0</td>
<td>$310.00</td>
<td>$136.5K</td>
<td style="text-align: right;">882</td>
<td>51</td>
</tr>
<tr>
<td>ETN</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$13.8</td>
<td>$12.1</td>
<td>$13.0</td>
<td>$360.00</td>
<td>$78.0K</td>
<td style="text-align: right;">989</td>
<td>2</td>
</tr>
<tr>
<td>ETN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$46.5</td>
<td>$44.5</td>
<td>$45.9</td>
<td>$350.00</td>
<td>$45.9K</td>
<td style="text-align: right;">124</td>
<td>10</td>
</tr>
</tbody>
</table>

<h3>About Eaton Corp</h3>
Founded in 1911 by Joseph Eaton, the eponymous company began by selling truck axles in New Jersey. Eaton has since become an industrial powerhouse largely through acquisitions in various end markets. Eaton's portfolio can broadly be divided into two parts: its electrical and industrial businesses. Its electrical portfolio (representing around 70% of company revenue) sells components within data centers, utilities, and commercial and residential buildings, while its industrial business (30% of revenue) sells components within commercial and passenger vehicles and aircraft. Eaton receives favorable tax treatment as a domiciliary of Ireland, but it generates over half of its revenue within the US.
Having examined the options trading patterns of Eaton Corp, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Eaton Corp's Current Market Status</h3>
<ul>
<li>Currently trading with a volume of 475,224, the ETN's price is up by 0.99%, now at $344.77. </li>
<li>RSI readings suggest the stock is currently may be overbought.</li>
<li>Anticipated earnings release is in 15 days.</li>
</ul>
<h3>What Analysts Are Saying About Eaton Corp</h3>
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $339.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Consistent in their evaluation, an analyst from Barclays keeps a Equal-Weight rating on Eaton Corp with a target price of $327. 
&#x2A; In a cautious move, an analyst from Citigroup downgraded its rating to Buy, setting a price target of $348. 
&#x2A; Maintaining their stance, an analyst from Wells Fargo continues to hold a Equal-Weight rating for Eaton Corp, targeting a price of $342. 
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 Eaton Corp with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Smart Money Is Betting Big In ETN Options

Deep-pocketed investors have adopted a bullish approach towards Estee Lauder Cos (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in EL usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for Estee Lauder Cos. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 60% leaning bullish and 30% bearish. Among these notable options, 7 are puts, totaling $788,423, and 3 are calls, amounting to $164,820.
<h3>Projected Price Targets</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $95.0 to $110.0 for Estee Lauder Cos over the recent three months. 
<h3>Analyzing Volume &amp; Open Interest</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 Estee Lauder Cos's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Estee Lauder Cos's substantial trades, within a strike price spectrum from $95.0 to $110.0 over the preceding 30 days.
<h3>Estee Lauder Cos Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728931533_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>EL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$16.2</td>
<td>$16.0</td>
<td>$16.12</td>
<td>$95.00</td>
<td>$347.9K</td>
<td>1.6K</td>
<td style="text-align: right;">397</td>
</tr>
<tr>
<td>EL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$5.0</td>
<td>$4.9</td>
<td>$4.9</td>
<td>$99.00</td>
<td>$105.7K</td>
<td>101</td>
<td style="text-align: right;">217</td>
</tr>
<tr>
<td>EL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$16.4</td>
<td>$16.2</td>
<td>$16.2</td>
<td>$110.00</td>
<td>$102.0K</td>
<td>16</td>
<td style="text-align: right;">63</td>
</tr>
<tr>
<td>EL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$16.2</td>
<td>$16.0</td>
<td>$16.12</td>
<td>$95.00</td>
<td>$99.8K</td>
<td>1.6K</td>
<td style="text-align: right;">181</td>
</tr>
<tr>
<td>EL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$5.8</td>
<td>$5.7</td>
<td>$5.7</td>
<td>$100.00</td>
<td>$75.2K</td>
<td>2.5K</td>
<td style="text-align: right;">132</td>
</tr>
</tbody>
</table>

<h3>About Estee Lauder Cos</h3>
Estee Lauder is a leader in the global prestige beauty market, participating across skin care (51% of fiscal 2024 sales), makeup (29%), fragrance (16%), and hair care (4%) categories, with top-selling brands such as Estee Lauder, Clinique, M.A.C, La Mer, Jo Malone London, Aveda, Bobbi Brown, and Origins. The firm operates in more than 150 countries, generating 30% of revenue from the Americas, 39% from Europe, the Middle East and Africa (including travel retail), and 31% from Asia-Pacific. Estee Lauder sells its products through department stores, travel retail, specialty multibrand beauty stores, brand-dedicated freestanding stores, e-commerce, salons/spas, and perfumeries.
In light of the recent options history for Estee Lauder Cos, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Where Is Estee Lauder Cos Standing Right Now?</h3>
<ul>
<li>With a trading volume of 1,271,929, the price of EL is down by -2.07%, reaching $94.11.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 17 days from now.</li>
</ul>
<h3>What The Experts Say On Estee Lauder Cos</h3>
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $121.66666666666667.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for Estee Lauder Cos, targeting a price of $122. 
&#x2A; Maintaining their stance, an analyst from DA Davidson continues to hold a Buy rating for Estee Lauder Cos, targeting a price of $130. 
&#x2A; An analyst from JP Morgan has decided to maintain their Overweight rating on Estee Lauder Cos, which currently sits at a price target of $113. 
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 Estee Lauder Cos with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Market Whales and Their Recent Bets on Estee Lauder Cos Options

Investors with a lot of money to spend have taken a bearish stance on HCA Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HCA#NYSE">HCA</a>).
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with HCA, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for HCA Healthcare.
This isn't normal.
The overall sentiment of these big-money traders is split between 40% bullish and 60%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $29,255, and 9, calls, for a total amount of $520,072.
<h3>Projected Price Targets</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $390.0 to $405.0 for HCA Healthcare over the recent three months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for HCA Healthcare's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across HCA Healthcare's significant trades, within a strike price range of $390.0 to $405.0, over the past month.
<h3>HCA Healthcare Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728931528_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>HCA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$5.9</td>
<td>$5.3</td>
<td>$5.9</td>
<td>$395.00</td>
<td>$145.7K</td>
<td style="text-align: right;">279</td>
<td style="text-align: right;">252</td>
</tr>
<tr>
<td>HCA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$14.6</td>
<td>$13.9</td>
<td>$14.4</td>
<td>$405.00</td>
<td>$96.5K</td>
<td style="text-align: right;">65</td>
<td style="text-align: right;">146</td>
</tr>
<tr>
<td>HCA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$14.5</td>
<td>$14.2</td>
<td>$14.2</td>
<td>$405.00</td>
<td>$68.1K</td>
<td style="text-align: right;">65</td>
<td style="text-align: right;">249</td>
</tr>
<tr>
<td>HCA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$14.3</td>
<td>$14.1</td>
<td>$14.1</td>
<td>$405.00</td>
<td>$43.7K</td>
<td style="text-align: right;">65</td>
<td style="text-align: right;">66</td>
</tr>
<tr>
<td>HCA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$3.1</td>
<td>$3.0</td>
<td>$3.0</td>
<td>$400.00</td>
<td>$38.1K</td>
<td style="text-align: right;">256</td>
<td style="text-align: right;">182</td>
</tr>
</tbody>
</table>

<h3>About HCA Healthcare</h3>
HCA Healthcare is a Nashville-based healthcare provider organization operating the largest collection of acute-care hospitals in the United States. As of June 2024, the firm owned and operated 188 hospitals, 123 freestanding outpatient surgery centers, and a broad network of physician offices, urgent-care clinics, and freestanding emergency rooms across 20 states and a small foothold in England.
In light of the recent options history for HCA Healthcare, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>HCA Healthcare's Current Market Status</h3>
<ul>
<li>With a volume of 353,681, the price of HCA is up 0.54% at $396.68. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 11 days.</li>
</ul>
<h3>Expert Opinions on HCA Healthcare</h3>
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $419.6666666666667.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $392. 
&#x2A; In a cautious move, an analyst from Keybanc downgraded its rating to Overweight, setting a price target of $475. 
&#x2A; An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $392. 
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 HCA Healthcare, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

HCA Healthcare's Options: A Look at What the Big Money is Thinking

<a href="https://www.defense.gov/News/Releases/Release/Article/3934707/statement-from-pentagon-press-secretary-maj-gen-pat-ryder-on-prc-military-drill/">https://www.defense.gov/News/Releases/Release/Article/3934707/statement-from-pentagon-press-secretary-maj-gen-pat-ryder-on-prc-military-drill/</a>
&nbsp;
We have closely monitored the People's Liberation Army (PLA) exercise, JOINT SWORD 2024B, around Taiwan. This military pressure operation is irresponsible, disproportionate, and destabilizing. As the White House noted last week, it is a long-standing tradition for Taiwan's president to deliver remarks on 10/10. It is a routine, domestic-focused address that has historically prompted little response from the PRC. Still, the PRC has chosen this opportunity to take provocative, military action. &nbsp; Deterrence remains strong in the Indo-Pacific, and the Department remains confident in its current force posture and operations in the region. The entire world has a stake in peace and stability across the Taiwan Strait, and we continue to see a growing community of countries committed to peace and stability across the Taiwan Strait. We will continue to work with allies and partners to advance our shared vision for a free and open Indo-Pacific, despite the PRC's destabilizing behavior. The United States remains committed to its longstanding one China policy, guided by the Taiwan Relations Act, the Three Joint Communiqués, and the Six Assurances.

Macro Economic Events

Global

Economics

'Statement From Pentagon Press Secretary Maj. Gen. Pat Ryder on PRC Military Drills Near Taiwan' - U.S. Department Of Defense

Huntington Bancshares Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hban#NASDAQ">HBAN</a>) is slated to report&nbsp;third-quarter 2024 results&nbsp;results on Oct. 17, before the opening bell. The company&#39;s quarterly revenues and earnings are expected to have declined year over year.
In the last reported quarter, the bank recorded a positive earnings surprise of 7.14%. Results have reflected improvements in average loans and deposits. However, a fall in net interest income (NII) and elevated expenses were headwinds.
HBAN has an impressive earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 8.87%.
The Zacks Consensus Estimate for HBAN&#39;s third-quarter earnings of 30 cents per share has remained unchanged in the past seven days. The figure indicates a 16.67% decline from the year-ago reported number.
The consensus estimate for revenues is pegged at $1.86 billion, indicating a year-over-year decline of 1.67%.
<div class="chart_embed">
<h3>Huntington Bancshares Incorporated Price and EPS Surprise</h3>
<img alt="Huntington Bancshares Incorporated Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/c9/1728910582.png" style="height:258px; width:530px" title="" />
Huntington Bancshares Incorporated price-eps-surprise | Huntington Bancshares Incorporated Quote
Now, let us discuss factors that might have influenced Huntington Bancshares&#39; third-quarter performance.
</div>
<h2>Key Factors &amp; Estimates for HBAN&#39;s Q3 Result</h2>
Loans &amp; NII: On Sept. 18, the Federal Reserve cut the interest rates by 50 basis points to 4.75-5% for the first time since March 2020. While the rate cut is not expected to significantly affect HBAN&#39;s NII in the quarter under review, greater clarity on the Fed&#39;s rate cut path, along with a stabilizing macroeconomic environment, is likely to have aided the lending outlook.
The Zacks Consensus Estimate for NII is pegged at $1.35 billion, indicating a 3% rise sequentially.
Per the Fed&#39;s latest&nbsp;data, the demand for commercial and industrial loans and consumer loans was decent in the third quarter of 2024, while real estate loan was subdued.
Given the company&#39;s significant exposure to commercial loans, HBAN&#39;s lending book is likely to have been supported by the decent demand in commercial loans while the subdued real estate loan demand might have offset growth to some extent.
The Zacks Consensus Estimate for average total earning assets of $180.5 billion for the quarter under review indicates a 1.4% rise from the prior quarter&#39;s levels.
Non-Interest Income: As the central bank lowered the interest rates, mortgage rates started to come down. The rates declined to almost 6.2% by the end of the third quarter. Although mortgage origination volume remained subdued in the quarter under review, refinancing activities witnessed a significant surge supported by lower mortgage rates. This is likely to have supported HBAN&#39;s mortgage banking fees. The Zacks Consensus Estimate for mortgage banking income is pegged at $30.6 million, suggesting a 1.8% increase from the prior quarter&#39;s reported figure.
Global mergers and acquisitions in the third quarter of 2024 showed improvement after subdued 2023 and 2022.
Both deal value and volume were decent during the quarter, driven by solid financial performance, higher chances of a soft landing of the U.S. economy, buoyant markets and interest rate cuts. Also, the performance of the capital markets business, including issuance activities, improved. As a result, the company&#39;s capital markets and advisory fees are expected to have increased.
The Zacks Consensus Estimate for capital markets and advisory fees is pegged at $76.14 million, indicating 4.3% growth sequentially.
The strong performance of the equity market is likely to have supported wealth and asset management revenues during the quarter under review.The Zacks Consensus Estimate for wealth and asset management revenues is pegged at $92 million, indicating a 2.3% rise from the previous quarter&#39;s reported figure.
The consensus estimate for customer deposit and loan fees for the third quarter is pegged at $84.6 million, indicating a rise of 1.9% on a sequential basis. The consensus mark for insurance income of $18.3 million implies a sequential rise of 1.7%.
The consensus mark for total non-interest income is pegged at $507.4 million, indicating a 3.3% sequential rise.
Expenses: Huntington Bancshares&#39; higher outside data processing and other services expenses, deposit and marketing expenses are anticipated to have raised its costs in the third quarter. Also, the bank&#39;s efforts to expand its commercial banking capabilities in high growth markets by adding more branches and hiring professionals are expected to have contributed to higher costs.
Though strategic efficiency initiatives are likely to reduce expenses to some extent, long-term investments in key growth initiatives are expected to have kept its expense base higher.
Asset Quality: HBAN is likely to have set aside a substantial amount of money for potential delinquent loans, given the expectations of an economic slowdown.
The Zacks Consensus Estimate for total non-performing assets of $780.08 million indicates a marginal increase from the figure reported in the prior quarter.
<h2>What Our Model Unveils for HBAN?</h2>
Per our proven model, the chances of Huntington Bancshares beating estimates this time are low.&nbsp; The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here, as you can see below.
Earnings ESP: Huntington Bancshares has an&nbsp;Earnings ESP&nbsp;of -2.78%.
Zacks Rank: HBAN currently carries a Zacks Rank of 3.
<h2>Stocks to Consider</h2>
Here are some finance stocks that you may want to consider, as our model shows that these hold the right combination of elements to post an earnings beat this time around.
First Horizon Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fhn#NYSE">FHN</a>) has an Earnings ESP of +3.18% and carries a Zacks Rank #3 at present. The company is scheduled to release its third-quarter 2024 earnings on Oct. 16.
FHN&#39;s quarterly earnings estimates have been unchanged over the past seven days.
The Earnings ESP for M&amp;T Bank Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mtb#NYSE">MTB</a>) is +0.33% and it also carries a Zacks Rank #3 at present. The company is slated to report its third-quarter 2024 results on Oct. 17.
The Zacks Consensus Estimate for MTB&#39;s quarterly earnings has remained unchanged in the past seven days.
<a href="https://www.zacks.com/stock/news/2350055/higher-costs-to-hurt-huntington-bancshares-q3-earnings-nii-to-aid?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2350055">To read this article on Zacks.com click here.</a>

Earnings Beats

Financing

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HBAN

Higher Costs to Hurt Huntington Bancshares' Q3 Earnings, NII to Aid

Vice President Kamala Harris has unveiled a plan to support a cryptocurrency regulatory framework as part of her &#8220;Opportunity Agenda for Black Men,&#8221; signaling a potential shift in the <a href="https://www.benzinga.com/markets/cannabis/24/10/41314909/kamala-harris-unveils-policy-plan-for-black-men-focusing-on-economic-opportunity-health-cannabis">Democratic approach to digital assets</a>.
What Happened: The proposal, released less than a month before the presidential election, acknowledges the growing importance of cryptocurrencies among Black Americans. According to Harris&#8217; team, over 20% of Black Americans currently own or have previously owned crypto assets.
&#8220;Vice President Harris appreciates the ways in which new technologies can broaden access to banking and financial services,&#8221; the campaign <a href="https://kamalaharris.com/agenda/">stated</a> in the plan.
Harris&#8217; proposal aims to ensure that &#8220;owners of and investors in digital assets benefit from a regulatory framework so that Black men and others who participate in this market are protected.&#8221;
This move aligns with Harris&#8217; broader economic vision, which she outlined in an 80-page plan last month. In that document, she expressed <a href="https://www.benzinga.com/markets/24/10/41304996/kamala-harris-plans-to-boost-ai-and-crypto-sectors-if-she-wins-these-specific-stocks-could-benefit">support for innovative technologies</a> like AI and digital assets while emphasizing consumer and investor protection. 
It comes as <a href="https://www.benzinga.com/news/24/10/41306411/kamala-harris-leads-trump-but-most-americans-are-pessimistic-about-the-nations-direction-poll-shows">polls</a> between Harris and GOP candidate Donald Trump tighten and 66% of respondents in a CBS survey voice a pessimistic outlook for the country&#8217;s direction.
<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>
Read Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41307276/mark-cuban-questions-trumps-motive-behind-wlfi-token-sale-former-prez-failed-in-the-bitcoi" target="_blank" rel="noreferrer noopener">Mark Cuban Questions Trump&#8217;s Motive Behind WLFI Token Sale—Former Prez Failed In The ‘Bitcoin IQ Test,&#8217; Says Max Keiser</a>
Why It Matters: The proposal has faced criticism from some industry leaders. Cleve Mesidor, founder of the National Policy Network of Women of Color in Blockchain, expressed concern about the narrow focus on Black men and the framing of their role in the crypto space.
&#8220;It is perplexing that the Harris-Walz policy team opted not to meet with diverse leaders in crypto, but instead is rolling out a policy that narrowly frames crypto around Black men only and proposes a regulatory framework limiting Black men to consumers instead of producers,&#8221; Mesidor <a href="https://www.theblock.co/post/320930/vice-president-kamala-harris-vows-to-support-a-crypto-regulatory-framework-in-plan-to-support-black-men?utm_source=twitter&amp;utm_medium=social">told</a> The Block.
As the election approaches, Harris&#8217; stance on crypto regulation could become a key differentiator in the race, especially given Trump&#8217;s pledge to end what he calls an &#8220;unlawful and un-American crackdown&#8221; on the U.S. crypto industry.
Harris&#8217; initiative comes at a crucial time as the 2024 presidential election looms. Her campaign has received significant support from the crypto community, including a $1 million donation in XRP from <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41297899/kamala-harris-receives-1-million-in-xrp-from-ripple-co-founder-chris-larsen">Ripple co-founder Chris Larsen</a>. 
The election, featuring Donald Trump and Kamala Harris, presents a unique scenario for the cryptocurrency market. As Bitcoin remains stable despite the election&#8217;s proximity, <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41313912/harris-or-trump-bitcoin-to-be-in-win-win-position-irrespective-of-who-wins-the-white-house">several analysts</a> are predicting an imminent uptrend regardless of the outcome.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41314578/mark-cuban-to-replace-gary-gensler-under-harris-administration-if-asked-i-would-want-to-be">Mark Cuban To Replace Gary Gensler Under Harris Administration? &#8216;If Asked, I Would Want to Be Interviewed,&#8217; Former Mavs Owner Says</a></li>
</ul>
Image: Shutterstock

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

Cryptocurrency

Kamala Harris Unveils Crypto Regulatory Framework As Part Of Outreach Toward Black Male Voters, But Not Everyone's Convinced

Streaming giant Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) has gotten price target increases from analysts thanks to ad-supported strength and pending pricing increases, with the upcoming catalyst of third-quarter <a href="https://www.benzinga.com/earnings">financial results coming Thursday</a>
 The Netflix Analysts: Goldman Sachs analyst Eric Sheridan reiterated a Neutral rating and raised the price target from $659 to $709.
Macquarie analyst Tim Nollen reiterated an Outperform rating and raised the price target from $695 to $795.
Read Also: <a href="https://www.benzinga.com/general/entertainment/24/10/41292381/netflix-launches-live-weekly-talk-show-with-john-mulaney-streamer-continues-push-for-live-c">Netflix Launches Live Weekly Talk Show With John Mulaney: Streamer Continues Push For Live Content</a>
Goldman Sachs on NFLX: Ad-supporting initiatives and a new pricing strategy will impact average revenue per member for Netflix moving forward, Sheridan said in a new investor note.
"On the back of their last earnings report, the shares had an initial negative reaction but have since produced such outperformance on the back of a few key themes," Sheridan said.
The analyst said Netflix&#8217;s market leadership in streaming, increasing progress on the ad-supported tier, and focus on profits over growth are key factors that have helped its stock climb since its second-quarter financial results.
Sheridan added that price increases over the next year and subscriber growth remain two key debates among investors regarding Netflix stock.
"We increase our net add assumptions in all markets to reflect solid third-party data trends."
The Neutral rating comes with Netflix shares up over 45% year-to-date, outperforming the 20% gain of the S&amp;P 500. The analyst said Netflix stock trades with "a host of positive operating cadence in 2025 and 2026 at current levels."
Macquarie on NFLX: Nollen is bearish on traditional media stocks and has Outperform ratings on several streaming pure plays, including Netflix.
"Netflix has continued to power ahead, in anticipation of a possible price increase in the U.S.," Nollen said.
The analyst said positive updates on the company's ad-supported tier and enthusiasm for live sports are also helping the company for the near-term outlook.
"Ad tech integrations and the construction of an in-house data stack and audience graph should produce good advertising growth over the next two years, if not immediately."
Advertising monetization could take time, the analyst cautions.
Nollen said a pricing increase could be one of the company's biggest catalysts. The last price increase on the standard plan came in January 2022, and Hulu and Max are now more expensive than Netflix's standard plan.
"We think Netflix boasts strong pricing power."
NFLX Price Action: Netflix stock is down 1.5% to $711.86 on Monday, versus a 52-week trading range of $344.73 to $736.00. Netflix stock is up 52.7% year-to-date in 2024.
Read Next: 
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41235640/netflix-to-become-default-choice-for-tv-movies-analyst-predicts-more-live-sports-pr">Netflix To Become &#8216;Default Choice&#8217; For TV, Movies? Analyst Predicts More Live Sports, Price Increases</a></li>
</ul>
Image via Pixabay

Analyst Color

Entertainment

Previews

NFLX

Netflix Set To Capitalize On Ad-Supported Tier, Price Increase: Analyst Says Streamer 'Boasts Pricing Power' Ahead Of Q3 Earnings

AFRM

Affirm Holdings shares are trading higher after Wedbush upgraded the stock from Underperform to Neutral and raised the price target from $25 to $45.

In the current session, the stock is trading at $73.12, after a 0.38% spike. Over the past month, Mueller Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLI#NYSE">MLI</a>) stock increased by 3.33%, and in the past year, by 96.92%. With performance like this, long-term shareholders are optimistic but others are more likely to look into the price-to-earnings ratio to see if the stock might be overvalued.

<img src="https://www.benzinga.com/files/images/story/2024/1728930621_0.png" alt="Past Year Chart" />

<h3>Evaluating Mueller Industries P/E in Comparison to Its Peers</h3>
The P/E ratio measures the current share price to the company's EPS. It is used by long-term investors to analyze the company's current performance against it's past earnings, historical data and aggregate market data for the industry or the indices, such as S&amp;P 500. A higher P/E indicates that investors expect the company to perform better in the future, and the stock is probably overvalued, but not necessarily. It also could indicate that investors are willing to pay a higher share price currently, because they expect the company to perform better in the upcoming quarters. This leads investors to also remain optimistic about rising dividends in the future. 
Mueller Industries has a lower P/E than the aggregate P/E of 30.25 of the Machinery industry. Ideally, one might believe that the stock might perform worse than its peers, but it's also probable that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1728930621_1.png" alt="Guage" />

In summary, while the price-to-earnings ratio is a valuable tool for investors to evaluate a company's market performance, it should be used with caution. A low P/E ratio can be an indication of undervaluation, but it can also suggest weak growth prospects or financial instability. Moreover, the P/E ratio is just one of many metrics that investors should consider when making investment decisions, and it should be evaluated alongside other financial ratios, industry trends, and qualitative factors. By taking a comprehensive approach to analyzing a company's financial health, investors can make well-informed decisions that are more likely to lead to successful outcomes.

Intraday Update

A Look Into Mueller Industries Inc's Price Over Earnings

The latest figures from Circana reveal a dip in U.S. video game spending for August 2024, with total expenditure dropping 7% year-on-year to <a href="https://www.benzinga.com/general/gaming">$4.1 billion. </a>
Hardware sales fell by 36%, down to $208 million, compared to August 2023. This decline was most pronounced for Nintendo ADR&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NTDOY#OTC">NTDOY</a>) Nintendo Switch, which saw a 41% drop in sales, GamesIndustry.biz <a href="https://www.gamesindustry.biz/august-spending-drops-7-to-41bn-despite-madden-and-mobile-success-us-monthly-charts">reported.</a>
See Also: <a href="https://www.benzinga.com/general/gaming/24/10/41318405/microsoft-to-test-cloud-gaming-for-owned-xbox-games-in-november-report">Microsoft To Test Cloud Gaming For Owned Xbox Games In November: Report</a>
Despite the downturn in hardware spending, Sony Group Corp.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) PlayStation 5 continued to hold its position as the bestselling console for the month.
<h1 class="wp-block-heading">Video Game Content Spending Declines, But Mobile Shows Growth</h1>
Overall video game content spending, which includes physical and digital game sales, microtransactions, DLC and subscriptions, dropped by 5% to $3.7 billion.
While this decline affected multiple platforms, there was a bright spot: mobile content spending grew by 5%, according to data from Sensor Tower. 
<h1 class="wp-block-heading">Madden NFL 25 Tops The Charts, EA Continues Its Dominance</h1>
August saw the release of Electronic Arts Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>) Madden NFL 25, which claimed the top spot as the best-selling game for the month. This marks the 25th consecutive year that a Madden title has achieved the highest sales in its debut month.
EA Sports College Football 25, which was last month's No.1, slipped to second place but maintained its position as the top-selling game of the year so far, surpassing Helldivers 2. Interestingly, the EA Sports MVP Bundle, featuring deluxe editions of both College Football and Madden, also made its mark, landing as the fifth biggest seller of the year and the fourth highest in August.
<h1 class="wp-block-heading">New Releases Make Strong Debuts</h1>
Three other new releases made impressive entries into the top 20 for August. Ubisoft Entertainment SA's (OTC:<a class="ticker" href="https://www.benzinga.com/stock/UBSFF#OTC">UBSFF</a>) Star Wars: Outlaws debuted at No.3, signaling strong interest in the long-awaited open-world title. 
Square Enix Holdings Co.'s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SQNXF#OTC">SQNXF</a>) Visions of Mana landed at No.10, while Bandai Namco Holdings ADR's (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NCBDY#OTC">NCBDY</a>) Gundam Breaker 4 secured the 11th spot.
<h1 class="wp-block-heading">Stable Year-To-Date Spending Despite August Declines</h1>
Despite the August dip, the U.S. games market remains stable for the year overall. Year-to-date spending reached $36.3 billion, a 1% increase compared to the same period in 2023.
While hardware sales continue to struggle, dropping 28% to $2.3 billion, video game content spending has risen by 4% to $32.3 billion, highlighting the continued demand for digital entertainment and services.
<h1 class="wp-block-heading">Top-Selling Games Of August 2024</h1>
Here's the list of the top 20 selling games for August, according to Circana:
<ol>
<li>Madden NFL 25</li>
<li>EA Sports College Football</li>
<li>Star Wars: Outlaws</li>
<li>EA Sports MVP Bundle</li>
<li>Elden Ring</li>
<li>Hogwarts Legacy</li>
<li>Minecraft</li>
<li>Call of Duty: Modern Warfare 3</li>
<li>Marvel's Spider-Man 2</li>
<li>Visions of Mana</li>
<li>Gundam Breaker 4</li>
<li>The Elder Scrolls Online</li>
<li>Helldivers 2</li>
<li>Mario Kart 8</li>
<li>Ghost of Tsushima</li>
<li>Sea of Thieves</li>
<li>MLB The Show 24</li>
<li>Forza Horizon 5</li>
<li>Gran Turismo 7</li>
<li>EA Sports FC 24</li>
</ol>
Read Next: • <a href="https://www.benzinga.com/general/gaming/24/10/41277228/playstation-plus-october-2024-dead-island-2-leads-spooky-lineup-of-14-games">PlayStation Plus October 2024: Dead Island 2 Leads Spooky Lineup Of 14 Games</a>
Photo: Shutterstock.

Gaming

NCBDY

NTDOY

Sony Group Corporation American Depositary Shares

SONY

SQNXF

UBSFF

US Gaming Market Sees 7% Spending Decline In August: Madden NFL 25 Debut A Bright Spot

CoStar Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSGP#NASDAQ">CSGP</a>) has outperformed the market over the past 10 years by 6.27% on an annualized basis producing an average annual return of 17.91%. Currently, CoStar Gr has a market capitalization of $31.29 billion. 
Buying $1000 In CSGP: If an investor had bought $1000 of CSGP stock 10 years ago, it would be worth $5,373.61 today based on a price of $76.35 for CSGP at the time of writing.
<h3>CoStar Gr's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728930614_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

CSGP

Here's How Much $1000 Invested In CoStar Gr 10 Years Ago Would Be Worth Today

Nutanix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTNX#NASDAQ">NTNX</a>) has outperformed the market over the past 5 years by 5.62% on an annualized basis producing an average annual return of 20.03%. Currently, Nutanix has a market capitalization of $17.38 billion. 
Buying $100 In NTNX: If an investor had bought $100 of NTNX stock 5 years ago, it would be worth $243.39 today based on a price of $65.55 for NTNX at the time of writing.
<h3>Nutanix's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728930609_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

NTNX

$100 Invested In Nutanix 5 Years Ago Would Be Worth This Much Today

Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) will likely report a third-quarter topline of $23.096 billion (versus $17.280 billion a year ago) and adjusted EPS of $1.80 on Thursday, according to analyst consensus estimates.
The 34% revenue growth comes from the continued artificial intelligence frenzy and as countries remain engaged in consolidating their semiconductor base to reduce dependence on Asian countries like China. TSMC has guided for revenue of <a href="https://www.benzinga.com/markets/equities/24/10/41248508/why-nvidia-apple-chip-supplier-tsmc-is-rallying-in-wednesdays-premarket" target="_blank" rel="noreferrer noopener">$22.4 billion-$23.2 billion</a>. 
Last week, the company reported September topline growth of 39.6% to 251.87 billion Taiwanese dollars ($7.82 billion).
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41235547/nvidia-amd-lead-the-pack-broadcom-stable-intel-falters-analysts-latest-take" rel="noreferrer noopener">Nvidia, AMD Lead The Pack, Broadcom Stable, Intel Falters: Analyst&#8217;s Latest Take</a>
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/14035831/newplot-6.png" alt="" class="wp-image-593257" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/14035831/newplot-6.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/14035831/newplot-6-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Taiwan Semiconductor stock is up over 109% in the last 12 months. Global funds&nbsp;injected $29.5 billion of capital into the Taiwan Stock Exchange between January and September on a net basis despite selling $16.9 billion of shares, implying ample cash for investment in the stocks, Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-10-07/global-investors-are-hoarding-cash-to-bet-on-taiwan-ai-return?sref=TBDibEcD" rel="noreferrer noopener">reports</a>.
TSMC is a prime Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) chip supplier, and it remains invested in its geographical diversification, including&nbsp;the U.S., Japan, and Germany, signaling continued demand for its AI chips.
Taiwan Semiconductor has already earmarked over $65 billion for three plants in Arizona, U.S. The contract chipmaker is eying more AI chip plants in Europe, Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-10-13/tsmc-plans-more-chip-plants-in-europe-taiwan-official-says?srnd=phx-technology&amp;sref=TBDibEcD" rel="noreferrer noopener">cites</a> from Taiwan&#8217;s National Science and Technology Council Minister&nbsp;Wu Cheng-wen interview.
Wu told Bloomberg that the AI market, including chips for Nvidia and&nbsp;Advanced Micro Devices Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), will be the most essential segment. He also hinted at the possible evaluation of expansion strategies in Europe.
Price Action: TSM stock is up 0.87% at $192.47 at the last check on Monday.
Also Read:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41236938/apple-iphone-16-pro-boosts-sales-but-base-models-lag-analyst-says" target="_blank" rel="noreferrer noopener">Apple iPhone 16 Pro Boosts Sales, But Base Models Lag, Analyst Says</a></li>
</ul>
Image via Shutterstock

Emerging Markets

Tech

Media

AAPL

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Taiwan Semiconductor Eyes $23B in Q3 Revenue as AI Demand Soars

BlackRock, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) reported better-than-expected<a href="https://www.benzinga.com/quote/BLK/earnings"> third-quarter results on Friday</a>.
Revenue growth of 15% Y/Y to $5.197 billion, beating the consensus of $5.007 billion. Adjusted EPS increased 5% Y/Y to $11.46, beating the consensus of $10.38.
Laurence D. Fink, Chairman and CEO, said, "Through coordinated investments and initiatives, we are evolving our private markets capabilities to best serve our clients. We're already seeing the power of BlackRock and GIP together as we drive access to the enormous investment potential of infrastructure, especially to support AI innovation."
BlackRock shares gained 0.3% to trade at $993.33 on Monday.
These analysts made changes to their price targets on BlackRock following earnings announcement.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58ca96e2b85e930001f446d3/michael-cyprys">Morgan Stanley analyst Mike Cyprys</a> maintained BlackRock with an Overweight and raised the price target from $1,150 to $1,245.</li>
<li>Evercore ISI Group analyst Glenn Schorr maintained BlackRock with an Outperform and raised the price target from $995 to $1,040.</li>
<li>Barclays analyst Benjamin Budish maintained the stock with an Overweight and increased the price target from $1,010 to $1,120..</li>
</ul>
Considering buying BLK stock? Here&#8217;s what analysts think:
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="512" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/14141916/image-104-1024x512.png" alt="" class="wp-image-594588" style="width:632px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/14141916/image-104-1024x512.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/14141916/image-104-300x150.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/14141916/image-104-768x384.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/14141916/image-104.png 1337w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read More: 
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<li><a href="https://www.benzinga.com/news/24/10/41312982/this-caterpillar-analyst-turns-bearish-here-are-top-5-downgrades-for-monday">This Caterpillar Analyst Turns Bearish; Here Are Top 5 Downgrades For Monday</a></li>
</ul>

BlackRock Analysts Boost Their Forecasts Following Strong Q3 Earnings

The Bank Of New York Mellon Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) posted better-than-expected <a href="https://www.benzinga.com/quote/BK/earnings">third-quarter results on Friday</a>.
The finance behemoth reported third-quarter adjusted earnings per share of $1.52 (+20% YoY), beating the street view of $1.42. Quarterly revenue of $4.648 billion, an increase of 5% year-over-year, surpassed the analyst consensus of $4.542 billion.
"BNY reported strong third quarter results, reflecting growth across our three business segments and consistent execution against our strategic priorities, with assets under custody and/or administration exceeding $50 trillion for the first time," commented Robin Vince, President and Chief Executive Officer.
BNY shares gained 2.2% to trade at $75.78 on Monday.
These analysts made changes to their price targets on Bank Of New York Mellon following earnings announcement.
<ul>
<li>Evercore ISI Group analyst Glenn Schorr maintained Bank of New York Mellon with an In-Line rating and raised the price target from $66 to $77.</li>
<li>Wells Fargo analyst Whit Mayo maintained the stock with an Equal-Weight rating and raised the price target from $69 to $79.</li>
<li>Barclays analyst Jason Goldberg maintained Bank of New York Mellon with an Overweight and boosted the price target from $75 to $86.</li>
</ul>
Considering buying BK stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="502" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/14141417/image-103-1024x502.png" alt="" class="wp-image-594581" style="width:492px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/14141417/image-103-1024x502.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/14141417/image-103-300x147.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/14141417/image-103-768x377.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/14141417/image-103.png 1348w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41312982/this-caterpillar-analyst-turns-bearish-here-are-top-5-downgrades-for-monday">This Caterpillar Analyst Turns Bearish; Here Are Top 5 Downgrades For Monday</a></li>
</ul>

Bank of New York Mellon Analysts Increase Their Forecasts After Upbeat Earnings

Johnson Controls Intl's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JCI#NYSE">JCI</a>) short percent of float has risen 6.63% since its last report. The company recently reported that it has 10.51 million shares sold short, which is 1.77% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.23 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Johnson Controls Intl Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728929724_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Johnson Controls Intl has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Johnson Controls Intl's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Johnson Controls Intl's peer group average for short interest as a percentage of float is 3.99%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

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