Prelude Therapeutics Stock (NASDAQ: PRLD)

Prelude Therapeutics (NASDAQ:PRLD) Stock, Quote.Headers.trade-ideas

Prelude Therapeutics

Prelude Therapeutics Incorp is a clinical-stage precision oncology company focused on discovering and developing small molecule therapies optimized to target the key driver mechanisms in cancers with high unmet needs. The company's pipeline includes four candidates currently in clinical development: PRT1419, a potent, selective inhibitor of MCL1; PRT2527, a potent and selective CDK9 inhibitor, PRT3645, a next-generation CDK4/6 inhibitor, and PRT3789 a first-in-class SMARCA2/BRM protein degrader.

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Evercore ISI Group analyst Elizabeth Anderson maintains Envista Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVST#NYSE">NVST</a>) with a Outperform and raises the price target from $18 to $23.

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Evercore ISI Group Maintains Outperform on Envista Holdings, Raises Price Target to $23

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Copa Holdings&#39; (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cpa#NYSE">CPA</a>) top line benefits from the increased air-travel demand. The company&#39;s proactive measures to expand its fleet are praiseworthy. However, CPA&#39;s financial stability, challenged by escalated operating expenses, is hurting the company&#39;s bottom line.
<h2>Factors Favoring CPA Stock</h2>
CPA&#39;s top line is bolstered by upbeat air-travel demand. To match this increased demand scenario, CPA has increased its capacity. In August, available seat miles (a measure of capacity) increased 8.2% year over year. Revenue passenger miles increased 5.8%.
The company&#39;s efforts to expand its fleet are commendable. In July 2024, CPA took delivery of its first Boeing 737 MAX 8, increasing its total fleet to 110 aircraft. By the end of the second quarter, the consolidated fleet included 67 Boeing 737-800s, 32 Boeing 737 MAX 9s, 9 Boeing 737-700s and 1 Boeing 737-800 freighter. Such moves reflect the company&#39;s continued commitment to growth and modernization.
Copa Holdings&#39; commitment to reward its shareholders through dividends is noteworthy. The company will make its third dividend payment of the year of&nbsp;$1.61&nbsp;per share on&nbsp;Sept. 13, 2024, to all Class A and Class B shareholders on record as of&nbsp;Aug. 30, 2024. These initiatives not only bolster investors&#39; confidence but also positively impact earnings per share.
<h2>Copa Holdings: Key Risks to Watch</h2>
The surge in operating expenses is adversely impacting the company&#39;s bottom line, due to rising fuel and labor costs. In the second quarter of 2024, operating costs increased by 7.4% year over year.
In the second quarter of 2024, the fuel expenses accounting for 37.3% of the total operating expenses increased by 15% year over year, due to a 5.2% higher effective fuel price and a 9.6% increase in fuel gallons consumed. The labor costs comprising wages, salaries, benefits and other employees&#39; expenses increased by 8.6% year over year.
Copa Holdings is currently mired in multiple headwinds, which have led to its unimpressive price performance. Shares of CPA have plunged 13.9% over the past year against 24.8% growth in its&nbsp;industry.
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<h2>CPA&#39;s Zacks Rank and Stocks to Consider</h2>
CPA is currently carrying a Zacks Rank #3 (Hold).
Some better-ranked stocks for investors&#39; consideration in the Zacks Transportation sector include C.H. Robinson Worldwide (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/chrw#NASDAQ">CHRW</a>) and Westinghouse Air Brake Technologies.
C.H. Robinson Worldwide currently sports a Zacks Rank #1 (Strong Buy).&nbsp;CHRW has an expected earnings growth rate of 25.2% for the current year.
The company has an impressive earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in three of the trailing four quarters and missed once, delivering an average surprise of 7.3%. Shares of CHRW have risen 21.7% in the past year.
WAB carries a Zacks Rank #2 (Buy) at present and has an expected earnings growth rate of 26% for the current year.
The company has an encouraging track record concerning the earnings surprise surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed once. The average beat is 11.8%. Shares of WAB have climbed 66.8% in the past year.
<a href="https://www.zacks.com/stock/news/2339954/here-s-why-investors-should-retain-copa-holdings-stock-for-now?cid=CS-BENZ-FT-analyst_blog|rank_focused-2339954">To read this article on Zacks.com click here.</a>

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Evercore ISI Group analyst Stephen Kim maintains Lennar (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) with a Outperform and lowers the price target from $240 to $236.

Evercore ISI Group Maintains Outperform on Lennar, Lowers Price Target to $236

Whales with a lot of money to spend have taken a noticeably bearish stance on PepsiCo.
Looking at options history for PepsiCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</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 69% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $425,199 and 7, calls, for a total amount of $330,911.
<h3>Predicted Price Range</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $155.0 to $185.0 for PepsiCo over the last 3 months. 
<h3>Insights into Volume &amp; Open Interest</h3>
In today's trading context, the average open interest for options of PepsiCo stands at 1345.0, with a total volume reaching 17,200.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in PepsiCo, situated within the strike price corridor from $155.0 to $185.0, throughout the last 30 days.
<h3>PepsiCo Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727109048_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>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>PEP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$4.9</td>
<td>$4.85</td>
<td>$4.9</td>
<td>$175.00</td>
<td>$119.5K</td>
<td style="text-align: right;">490</td>
<td>267</td>
</tr>
<tr>
<td>PEP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$2.97</td>
<td>$2.91</td>
<td>$2.91</td>
<td>$170.00</td>
<td>$117.2K</td>
<td style="text-align: right;">994</td>
<td>720</td>
</tr>
<tr>
<td>PEP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$1.06</td>
<td>$0.98</td>
<td>$1.0</td>
<td>$185.00</td>
<td>$79.1K</td>
<td style="text-align: right;">705</td>
<td>1.2K</td>
</tr>
<tr>
<td>PEP</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$4.55</td>
<td>$4.45</td>
<td>$4.55</td>
<td>$172.50</td>
<td>$71.4K</td>
<td style="text-align: right;">0</td>
<td>170</td>
</tr>
<tr>
<td>PEP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/19/25</td>
<td>$5.35</td>
<td>$5.2</td>
<td>$5.2</td>
<td>$155.00</td>
<td>$68.1K</td>
<td style="text-align: right;">217</td>
<td>133</td>
</tr>
</tbody>
</table>

<h3>About PepsiCo</h3>
PepsiCo is a global leader in snacks and beverages, owning well-known household brands including Pepsi, Mountain Dew, Gatorade, Lay's, Cheetos, and Doritos, among others. The company dominates the global savory snacks market and also ranks as the second-largest beverage provider in the world (behind Coca-Cola) with diversified exposure to carbonated soft drinks, or CSD, as well as water, sports, and energy drink offerings. Convenience foods account for approximately 55% of its total revenue, with beverages making up the rest. Pepsi owns the bulk of its manufacturing and distribution capacity in the US and overseas. International markets make up 40% of total sales and one third of operating profits.
<h3>Where Is PepsiCo Standing Right Now?</h3>
<ul>
<li>Trading volume stands at 2,295,802, with PEP's price up by 1.01%, positioned at $172.91.</li>
<li>RSI indicators show the stock to be is currently neutral between overbought and oversold.</li>
<li>Earnings announcement expected in 15 days.</li>
</ul>
<h3>What The Experts Say On PepsiCo</h3>
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $185.0.
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; Reflecting concerns, an analyst from Morgan Stanley lowers its rating to Equal-Weight with a new price target of $185.
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 PepsiCo with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Unpacking the Latest Options Trading Trends in PepsiCo

Investors with a lot of money to spend have taken a bullish stance on Wolfspeed (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>).
And retail traders should know.
We noticed this today when the trades 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 WOLF, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 8 uncommon options trades for Wolfspeed.
This isn't normal.
The overall sentiment of these big-money traders is split between 75% bullish and 12%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $141,120, and 5 are calls, for a total amount of $194,860.
<h3>Expected Price Movements</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $6.0 to $11.0 for Wolfspeed over the recent three months. 
<h3>Analyzing Volume &amp; Open Interest</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 Wolfspeed'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 Wolfspeed's whale activity within a strike price range from $6.0 to $11.0 in the last 30 days. 
<h3>Wolfspeed Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727109043_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>WOLF</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$2.0</td>
<td>$1.95</td>
<td>$1.95</td>
<td>$8.00</td>
<td>$57.5K</td>
<td>2.4K</td>
<td style="text-align: right;">720</td>
</tr>
<tr>
<td>WOLF</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$2.0</td>
<td>$1.95</td>
<td>$1.95</td>
<td>$8.00</td>
<td>$57.5K</td>
<td>2.4K</td>
<td style="text-align: right;">380</td>
</tr>
<tr>
<td>WOLF</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>06/18/26</td>
<td>$4.4</td>
<td>$2.8</td>
<td>$3.7</td>
<td>$10.00</td>
<td>$55.5K</td>
<td>763</td>
<td style="text-align: right;">150</td>
</tr>
<tr>
<td>WOLF</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$1.3</td>
<td>$1.2</td>
<td>$1.3</td>
<td>$11.00</td>
<td>$38.8K</td>
<td>250</td>
<td style="text-align: right;">300</td>
</tr>
<tr>
<td>WOLF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/17/25</td>
<td>$3.7</td>
<td>$3.6</td>
<td>$3.7</td>
<td>$6.00</td>
<td>$36.9K</td>
<td>56</td>
<td style="text-align: right;">200</td>
</tr>
</tbody>
</table>

<h3>About Wolfspeed</h3>
Wolfspeed Inc is involved in the manufacturing of wide bandgap semiconductors. It is focused on silicon carbide and gallium nitride materials and devices for power and radio-frequency (RF) applications. The company serves applications such as transportation, power supplies, inverters, and wireless systems. Geographically, it derives a majority of its revenue from Europe and the rest from the United States, China, Hong Kong, Asia Pacific, and other regions.
Following our analysis of the options activities associated with Wolfspeed, we pivot to a closer look at the company's own performance.
<h3>Where Is Wolfspeed Standing Right Now?</h3>
<ul>
<li>Trading volume stands at 5,996,730, with WOLF's price down by -3.58%, positioned at $7.81.</li>
<li>RSI indicators show the stock to be is currently neutral between overbought and oversold.</li>
<li>Earnings announcement expected in 35 days.</li>
</ul>
<h3>What The Experts Say On Wolfspeed</h3>
1 market experts have recently issued ratings for this stock, with a consensus target price of $25.0.
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; An analyst from Canaccord Genuity persists with their Buy rating on Wolfspeed, maintaining a target price of $25. 
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 Wolfspeed with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

WOLF

Market Whales and Their Recent Bets on WOLF Options

Financial giants have made a conspicuous bearish move on CRH. Our analysis of options history for CRH (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRH#NYSE">CRH</a>) revealed 10 unusual trades.
Delving into the details, we found 10% of traders were bullish, while 90% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $123,500, and 8 were calls, valued at $463,346.
<h3>Expected Price Movements</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $85.0 to $85.0 for CRH during the past quarter. 
<h3>Volume &amp; Open Interest Trends</h3>
In terms of liquidity and interest, the mean open interest for CRH options trades today is 1209.0 with a total volume of 3,159.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for CRH's big money trades within a strike price range of $85.0 to $85.0 over the last 30 days.
<h3>CRH 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727109037_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>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CRH</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$3.9</td>
<td>$2.4</td>
<td>$3.8</td>
<td>$85.00</td>
<td>$95.0K</td>
<td>101</td>
<td style="text-align: right;">279</td>
</tr>
<tr>
<td>CRH</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$8.9</td>
<td>$8.8</td>
<td>$8.8</td>
<td>$85.00</td>
<td>$71.2K</td>
<td>2.3K</td>
<td style="text-align: right;">98</td>
</tr>
<tr>
<td>CRH</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$9.0</td>
<td>$8.8</td>
<td>$8.8</td>
<td>$85.00</td>
<td>$70.4K</td>
<td>2.3K</td>
<td style="text-align: right;">656</td>
</tr>
<tr>
<td>CRH</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$8.9</td>
<td>$8.8</td>
<td>$8.8</td>
<td>$85.00</td>
<td>$64.2K</td>
<td>2.3K</td>
<td style="text-align: right;">553</td>
</tr>
<tr>
<td>CRH</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$9.0</td>
<td>$8.8</td>
<td>$8.8</td>
<td>$85.00</td>
<td>$59.8K</td>
<td>2.3K</td>
<td style="text-align: right;">184</td>
</tr>
</tbody>
</table>

<h3>About CRH</h3>
CRH is a global manufacturer of a range of building products used in construction projects, operating via a vertically integrated business model. The past decade has seen CRH transform into a leading building materials business, with increasing exposure to upstream building activities such as aggregates and cement. CRH's geographic footprint is mostly across developed markets. North America is CRH's largest market and accounts for 75% of EBITDA. The company is the largest producer of aggregates and asphalt in the US.
In light of the recent options history for CRH, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Current Position of CRH</h3>
<ul>
<li>Trading volume stands at 1,207,265, with CRH's price down by -1.74%, positioned at $91.27.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 54 days.</li>
</ul>
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>.
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 CRH, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Looking At CRH's Recent Unusual Options Activity

Lockheed Martin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) has outperformed the market over the past 10 years by 1.04% on an annualized basis producing an average annual return of 12.23%. Currently, Lockheed Martin has a market capitalization of $138.10 billion. 
Buying $1000 In LMT: If an investor had bought $1000 of LMT stock 10 years ago, it would be worth $3,194.64 today based on a price of $579.38 for LMT at the time of writing.
<h3>Lockheed Martin's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727109016_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.

$1000 Invested In This Stock 10 Years Ago Would Be Worth $3,200 Today

Agilent Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/A#NYSE">A</a>) has outperformed the market over the past 20 years by 1.28% on an annualized basis producing an average annual return of 9.75%. Currently, Agilent Technologies has a market capitalization of $40.57 billion. 
Buying $100 In A: If an investor had bought $100 of A stock 20 years ago, it would be worth $642.18 today based on a price of $141.19 for A at the time of writing.
<h3>Agilent Technologies's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727109010_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.

Here's How Much $100 Invested In Agilent Technologies 20 Years Ago Would Be Worth Today

Evercore ISI Group analyst Durgesh Chopra maintains Constellation Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>) with a Outperform and raises the price target from $212 to $254.

Evercore ISI Group Maintains Outperform on Constellation Energy, Raises Price Target to $254

Live On CNBC, Steve Weiss Announces Trimmed Netflix Position

Strong market share and growing opportunities in online sports betting could push Flutter Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLUT#NYSE">FLUT</a>) shares higher, according to Needham analyst Bernie McTernan, who initiated coverage with a Buy rating and a $270 price target
The Analyst Takeaways: With Flutter's dominant global scale, McTernan said it's time for investors to "add it to the bet slip" with the initiation of coverage on the stock during the<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40885110/draftkings-sportsbooks-could-benefit-from-week-2-nfl-underdogs-winning"> 2024 NFL season.</a>
"We see FLUT's leadership position in the US as an increasingly important earnings driver for the company, powering 25% global adj. EBITDA CAGR over the next three years," McTernan said.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/09/40852939/flutter-entertainment-bets-big-in-brazil-with-350m-nsx-stake-details">Flutter Entertainment Bets Big In Brazil With $350M NSX Stake: Details</a>
The total addressable market size of online sports betting in the U.S. could "continue to surprise to the upside," McTernan said. The U.S. drives nearly 75% of the asset value in Needham&#8217;s &#8220;SOTP (sum of the parts) and should be the significant focus for investors,&#8221; he added.
FanDuel, owned by Flutter, saw strong revenue and customer growth in the second quarter, McTernan added. With competitor DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), FanDuel has a near duopoly in the U.S. online sports betting market.
"Scale and commitment to product leadership from FanDuel and DKNG likely keeps the OSB market dominated by these two players,&#8221; he added.
A Needham survey revealed that sports bettors primarily use FanDuel and DraftKings.
"We think share can continue to ebb and flow between FanDuel and DKNG as we do not see a physical network effect in OSB meaning there is not a structural reason for dominant market share leader like digital marketplaces."
A Flutter Investor Day on Sept. 25 could provide more forecasts on the total addressable market size and EBITDA goals from the company, McTernan added.
"The US TAM continues to be larger than anticipated which should pay dividends for the operators that are able to consolidate market share. We see significant earnings power for the consolidated business if this thesis plays out."
McTernan said unless the market structure in the U.S. changes, it's "FanDuel and DKNG at the top and then everyone else."
FanDuel (37.8%) and DraftKings (34.8%) had a combined 73% market share in 2023. BetMGM ranks a distant third at 8.6% market share.
In the second quarter of 2024, FanDuel had market share of 37.3% with DraftKings at 37.0%. Both BetMGM and fourth-place Caesars had lower market share in the first two quarters of 2024 compared to 2023.
FLUT Price Action: Flutter stock trades at $231.94 versus a 52-week trading range of $174.03 to $234.54. Flutter stock is up 33% year-to-date in 2024.
Read Next: 
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40446628/draftkings-vs-flutter-analyst-lays-out-bull-vs-bear-debate-with-sports-betting-mark">DraftKings Vs. Flutter: Analyst Lays Out Bull Vs. Bear Debate With Sports Betting Market &#8216;Increasingly Functioning As A Duopoly&#8217;</a></li>
</ul>
Image: Shutterstock

Analyst Color

Sports Betting

Initiation

DKNG

Flutter Analyst Sees 'Significant Earnings Power' With Growing Duopoly, Sports Betting Market Size: 'Add It To The Bet Slip'

Toyota Motor Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>), Volkswagen AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>), and General Motors Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) are lagging behind Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and several Chinese competitors regarding critical software needed to power electric vehicles (EVs), the Financial Times <a target="_blank" href="https://www.ft.com/content/7e5677b8-87fa-41fa-8648-9009ac7f14fc" rel="noreferrer noopener">reports</a>.
Only three legacy automakers—Ford Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), General Motors, and Bayerische Motoren Werke AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>)—made the top 10 in their &#8220;digital automaker index,&#8221; the Financial Times cites a Gartner report. Tesla, Chinese companies like Nio Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) and Xpeng Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>), and startups such as Rivian Automotive, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) and Lucid Group, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) dominated the list.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/39880027/should-elon-musk-be-worried-toyota-hyundai-and-ford-challenge-tesla-on-home-turf-with-more-evs-on-us" rel="noreferrer noopener">Should Elon Musk Be Worried? Toyota, Hyundai, And Ford Challenge Tesla On Home Turf With More EVs On US Roads As Billionaire&#8217;s Auto Giant Faces Sales Slump</a>
The automotive industry transition to software development proved challenging for major players like Toyota and Volkswagen, who need help to keep pace with changes focused on software controlling EV batteries, safety systems, and self-driving technology.
However, Chinese EV stocks are also facing <a target="_blank" href="https://www.benzinga.com/markets/asia/24/09/40981254/chinese-vehicle-tech-faces-biden-administration-ban-over-national-security-concerns-china-ev-stocks" rel="noreferrer noopener">a challenging year</a>, as the domestic economic slowdown led to a price war. The stocks are down 31%- 42% in the last 12 months.
The U.S. sanctions on advanced artificial intelligence chips further affected the industry. Tesla is up 0.80% in the last 12 months.
Meanwhile, another U.S. embargo on the auto industry posed <a target="_blank" href="https://www.benzinga.com/markets/asia/24/09/40981254/chinese-vehicle-tech-faces-biden-administration-ban-over-national-security-concerns-china-ev-stocks" rel="noreferrer noopener">an additional problem</a>. The U.S. Commerce Department is considering restricting importing and selling Chinese-made vehicles that contain critical communications and automated driving systems, citing national security concerns.
Also Read:
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<li><a href="https://www.benzinga.com/markets/asia/24/09/40745366/toyota-scales-back-2026-ev-production-plans-by-30-trims-target-to-1m-cars-as-global-demand-weakens-r" target="_blank" rel="noreferrer noopener">Toyota Scales Back 2026 EV Production Plans By 30%, Trims Target To 1M Cars As Global Demand Weakens: Report</a></li>
</ul>
Disclaimer: This content was partially produced using AI tools and reviewed and published by Benzinga editors.
Image via Shutterstock

Tech

Media

BMWYY

LCID

RIVN

VWAGY

Tesla And Chinese EV Startups Outpace Toyota, Volkswagen In Critical Software Race: Report

WIIM

PYPL

PayPal shares are trading higher after Deutsche Bank raised its price target on the stock from $74 to $94.

Levi's is getting closer with Beyoncé. The denim mainstay posted a drawing reminiscent of Beyoncé's "Cowboy Carter" album cover on Instagram Monday morning. While the only text alongside the image of a cowgirl on a horse said, "Introducing: A New Chapter," clicking on the red and white picture produced a caption that said "beyonce." &nbsp;A spokeswoman for the brand declined to elaborate and simply said, "More to come." &nbsp;That teases some sort of a collaboration between the brand and the superstar just as they both have been going after some of the same cultural touchpoints. &nbsp;The "Cowboy Carter" album this spring included the song, "Levii's Jeans" with Post Malone. &nbsp;It's a country-tinged love song that had Beyoncé almost literally singing Levi's song, including the lines: &nbsp; "Denim on denim, on denim, on denim Give you high fashion in a simple white T Give you these blues, it's in my jeans" Levi's, which has been pushing denim-on-denim styles, made the most of the mention, changing its name and logo on social media to "Levii's" to match the song title. &nbsp;It was a musical mention that also seemed to resonate in brick-and-mortar. &nbsp;Pass_by, which uses AI to predict IRL movements, said the single drove a 19.9 percent increase in foot traffic at Levi's stores, compared with the Easter Week average over the prior three years. James Ewen, vice president of marketing at Pass_by, said at the time: "Amidst a digital shopping era, the tangible experiences offered by physical stores, when amplified by cultural icons like Beyoncé, become not just relevant but vital." &nbsp; Shortly after the album dropped in April, Levi's chief executive officer Michelle Gass told Wall Street analysts: "We continue to drive brand heat and impactful storytelling by showing up at the center of culture across music, art and design, fashion and sports. We were thrilled and honored to have Beyoncé name a song after us on her newest album. And as an example of our agility, we responded to the speed of culture, not only demonstrating our understanding of engaging social communities in an authentic way, but also generating more than 3 billion impressions and a ton of buzz for the brand that remains today." Levi's clearly wants to keep that buzz going by linking with Queen Bey directly.
<a href="https://wwd.com/business-news/marketing-promotion/levis-teases-beyonce-collaboration-leviis-1236640047/" title="https://wwd.com/business-news/marketing-promotion/levis-teases-beyonce-collaboration-leviis-1236640047/">https://wwd.com/business-news/marketing-promotion/levis-teases-beyonce-collaboration-leviis-1236640047/</a>

Rumors

LEVI

'Levi's Teases a New Beyoncé Collaboration' - WWD

Moody's shares are trading lower after Raymond James downgraded the stock from Market Perform to Underperform.

Micron shares are trading higher ahead of Q4 earnings.

<a href="https://www.fda.gov/safety/recalls-market-withdrawals-safety-alerts/gilead-issues-voluntary-nationwide-recall-one-lot-veklury-remdesivir-injection-100-mgvial-due">https://www.fda.gov/safety/recalls-market-withdrawals-safety-alerts/gilead-issues-voluntary-nationwide-recall-one-lot-veklury-remdesivir-injection-100-mgvial-due</a>
Gilead Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>) today announced it is issuing a voluntary recall of one lot of Veklury&#xAE; (remdesivir) for Injection 100 mg/vial, to the consumer level. Gilead received a customer complaint and confirmed the presence of a glass particle in the vial during the company's investigation.
Risk Statement: The administration of an injectable product that contains glass particles may result in local irritation or swelling in response to the foreign material. The glass particulate can potentially travel, through the blood vessels, to various organs and block blood vessels in the heart, lungs or brain which can cause stroke and even lead to death. To date, Gilead has not received any reports of adverse events related to this recall.
Veklury&#xAE; (remdesivir) for Injection 100 mg/vial is indicated for the treatment of COVID-19 in adults and pediatric patients (birth to less than 18 years of age weighing at least 1.5 kg) who are:
<ul>
<li>Hospitalized, or</li>
<li>Not hospitalized and have mild-to-moderate COVID-19 and are at high risk for progression to severe COVID-19, including hospitalization or death</li>
</ul>
Veklury&#xAE; (remdesivir) for Injection 100 mg/vial may only be administered in settings in which healthcare providers have immediate access to medications to treat a severe infusion or hypersensitivity reaction, such as anaphylaxis, and the ability to activate the emergency medical system (EMS), as necessary.

Biotech

General

GILD

FDA Says Gilead Issues Voluntary Nationwide Recall Of One Lot Of Veklury For Injection 100 mg/Vial Due To The Presence Of A Glass Particle

CBD could be deemed toxic for reproduction, which could then lead to its prohibition in cosmetic products across Europe. That is if a process launched by France last year comes to an end.
The European Chemicals Agency (ECHA) <a href="https://www.benzinga.com/markets/cannabis/23/06/32957641/cannabis-legalization-in-albania-france-to-restrict-cbd-in-cosmetics-and-more-global-updates">first published</a> France's intention to introduce a harmonized classification and labeling (CLH) for cannabidiol<a href="https://cosmeticobs.com/en/articles/echa-63/cannabidiol-france-notifies-an-intention-for-clh-classification-7403"> last year</a>.
According to CosmeticOBS, ECHA <a href="https://cosmeticobs.com/en/articles/news-59/proposition-of-clh-classification-for-cannabidiol-8297">posted an update earlier this month</a>, reiterating that "France had declared its intention to classify the substance on the basis of its potential toxicity for reproduction," and that it "has now become a proposal."
Currently, CBD is listed in the Cosing, an official cosmetic ingredient database of the European Union (EU) in two entries, as:
<ul>
<li>Cannabidiol is synthetically produced.</li>
<li>Cannabidiol is derived from the extract or tincture or resin of cannabis, for antioxidant, anti-sebum, akin conditioning and skin-protecting uses.</li>
</ul>
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/cannabis-conference/"><img loading="lazy" decoding="async" width="970" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23115305/ccc-oct-24-banner__1_-34.gif" alt="" class="wp-image-561450" /></a></figure>
CBD is not currently covered by the EU Cosmetics Regulation. The European Commission added CBD to the cosmetic ingredient database in 2021 following a court ruling that CBD is not a narcotic.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/23/11/35567160/exclusive-argentina-completes-its-first-export-of-cannabis-beauty-products">Exclusive: Argentina Completes Its First Export Of Cannabis Beauty Products</a>
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.</li>
</ul>
The European Commission <a href="https://cosmeticobs.com/en/articles/european-commission-45/european-commission-call-for-data-on-cannabidiol-7395">launched a call</a> for data on the safety of pure CBD and extracts that may contain contaminants such as THC on June 1, 2023. The request, as explained by CosmeticOBS, came ahead of a mandate for the Scientific Committee on Consumer Safety (SCCS), which is tasked with deciding on the future of these ingredients in cosmetics.
Once the process wraps up, CBD could be listed as a carcinogenic, mutagenic and toxic for reproduction (CMR) substance, resulting in the ban on such cosmetic products in Europe.
However, the ban could be waived following an opinion from the <a href="https://health.ec.europa.eu/scientific-committees/scientific-committee-consumer-safety-sccs_en">SCCS.</a>
CBD skincare products have experienced a renaissance over the past few years in the U.S. Cannabis companies such as Avicanna Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AVCNF#OTC">AVCNF</a>) (TSX:<a class="ticker" href="https://www.benzinga.com/stock/AVCN#TSX">AVCN</a>) (FSE: 0NN) have <a href="https://www.benzinga.com/markets/cannabis/21/12/24737817/avicanna-debuts-cbd-derma-cosmetics-pura-h-w-in-us-via-deal-with-red-white-bloom">jumped on the opportunity.</a>
Moreover, CBD skincare line Doctor Milagros partnered with video commerce giant QVC last year, <a href="https://www.benzinga.com/markets/cannabis/23/01/30592781/cbd-a-miracle-for-your-skincare-routine-everyface-inks-partnership-with-qvc">to bring EveryFace Skincare Line to New York.</a>
Read Next:
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<li><a href="https://www.benzinga.com/markets/cannabis/20/08/17301553/the-kardashians-and-cbd-kim-and-kourtneys-one-true-love">The Kardashians And CBD: Kim And Kourtney&#8217;s One True Love</a></li>
</ul>

Cannabis

Government

Regulations

Health Care

Politics

AVCNF

TSX:AVCN

CBD's Toxicity Concerns: Could Europe Ban Cannabidiol In Cosmetics?

Macro Notification

Russia Projects Decline In Oil And Gas Revenue Over The Next Three Years; Plans To Raise Defense Spending To $142B In 2025

JMP Securities analyst Reni Benjamin reiterated a Buy rating on Prelude Therapeutics (PRLD – Research Report) today and set a price target of $7.00...

Buy Rating Affirmed for Prelude Therapeutics on Strong Pipeline and Financial Position

In a report released today, Peter Lawson from Barclays maintained a Sell rating on Prelude Therapeutics (PRLD – Research Report), with a price targ...

Barclays Reaffirms Their Sell Rating on Prelude Therapeutics (PRLD)

Morgan Stanley analyst Jeffrey Hung maintained a Sell rating on Prelude Therapeutics (PRLD – Research Report) today and set a price target of $4.00...

Prelude Therapeutics (PRLD) Receives a Sell from Morgan Stanley

H.C. Wainwright analyst Robert Burns reiterated a Hold rating on Prelude Therapeutics (PRLD – Research Report) today and set a price target of $5.0...

Hold Rating on Prelude Therapeutics Pending Phase 1 Results of PRT3789

The latest update is out from Prelude Therapeutics ( ($PRLD) ). Prelude Therapeutics has announced its presentation of clinical data on PRT3789, a ...

Prelude Therapeutics Unveils Promising Cancer Treatment Data at ESMO

Analyst Robert Burns of H.C. Wainwright reiterated a Hold rating on Prelude Therapeutics (PRLD – Research Report), retaining the price target of $5...

Hold Rating on Prelude Therapeutics Pending PRT3789 Trial Results

Jeffrey Hung, an analyst from Morgan Stanley, maintained the Sell rating on Prelude Therapeutics (PRLD – Research Report). The associated price tar...

Prelude Therapeutics: Uncertainties in Drug Efficacy and Dosing Prompt Sell Rating

In a report released today, Reni Benjamin from JMP Securities reiterated a Buy rating on Prelude Therapeutics (PRLD – Research Report), with a pric...

Buy Rating Affirmed for Prelude Therapeutics on Promising PRT3789 Trial Results and Strong Financial Position

In a report released today, Peter Lawson from Barclays assigned a Sell rating to Prelude Therapeutics (PRLD – Research Report), with a price target...

Prelude Therapeutics (PRLD) Gets a Sell from Barclays

In a report released today, Robert Burns from H.C. Wainwright reiterated a Hold rating on Prelude Therapeutics (PRLD – Research Report), with a pri...

Hold Rating on Prelude Therapeutics Amid Cautious Optimism for PRT3789's Early Promise

Press Releases

Prelude Therapeutics to Participate in Barclays Global Healthcare Conference

Prelude Announces Acceptance of Multiple Preclinical Abstracts at the 2024 AACR Annual Meeting

Prelude Highlights Continued Strength of Discovery Engine at 2024 AACR Annual Meeting

Prelude Therapeutics Reports First Quarter 2024 Financial Results and Provides Corporate Update

Prelude Therapeutics to Participate in Citizens JMP Life Sciences Conference

Prelude Therapeutics to Participate in Upcoming Healthcare Conferences

Prelude Therapeutics Announces Clinical Collaboration with Merck to Evaluate PRT3789 in Combination with KEYTRUDA® (pembrolizumab) in Patients with SMARCA4-Mutated Cancers

Prelude Therapeutics Reports Second Quarter 2024 Financial Results and Provides Corporate Update

Prelude Therapeutics Announces Publication of Abstract for Presentation at the European Society of Medical Oncology (ESMO) Congress 2024

Prelude Therapeutics' SMARCA2 Degrader PRT3789 Demonstrated Promising Initial Clinical Activity and Safety Profile in Phase 1 Trial

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Prelude Therapeutics (PRLD) Forecast

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