Rivernorth Opps Fund Stock (NYSE:RIV), Trade Ideas

Rivernorth Opps Fund

Rivernorth Opportunities Fund Inc is a diversified, closed-end management investment company. The fund's investment objective is total return consisting of capital appreciation and current income.

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Cannabis

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CNPOF

CSE:RIV

CSE:TRUL

CURALEAF HLDGS INC by Curaleaf Hldgs Inc.

CURLF

RIGHT ON BRANDS INC by Right On Brands, Inc.

RTON

TCNNF

TRUL

TSX:CURA

VRNOF

The cannabis revolution continues to grow with new dispensary openings across seven states. In Texas, Right on Brands and Texas Original launched new retail locations, while New York welcomed RIV Capital and Etain&#39;s new co-located dispensary. NYC Bud in Long Island City offers a unique subway-themed shopping experience. Additionally, CODES opened a new pop-up in Missouri, Curaleaf relocated its Phoenix Airport dispensary in Arizona, Sweetspot Farms launched a new store in Connecticut, Trulieve Cannabis Corp. expanded in Florida, and Verano Holdings Corp. added Zen Leaf Norristown to its Pennsylvania locations. These latest openings underscore the increasing acceptance and accessibility of cannabis products for both medical patients and recreational consumers nationwide.

Here&#39;s Where To Buy Legal Weed: Seven States Open New Cannabis Dispensaries

cannabis New York (Kindel Media by Pixabay and Quintin Gellar by Pexels)(9)

Regulations

Politics

Markets

ACRDF

THE CANNABIST CO HLDG by THE CANNABIST COMPANY HOLDINGS INC.

CBSTF

CRLBF

CSE:ACRG

CSE:CL

&#39;New York is going to rapidly become the largest cannabis market in the country,&#39; say cannabis companies getting ready to jump in.The Cannabist Company Holdings Inc. (NEO: CBST) (OTCQX: CBSTF) (FSE: 3LP), formerly Columbia Care, was approved Friday by the New York Office of Cannabis Management (OCM) for adult-use wholesale distribution.

These Companies Are Taking Center Stage As New York Cannabis Scene Expands

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General

House of Puff’s new collaboration and exhibition with the author, social justice advocate and artist, Chris Wilson is opening on May 12 in New York City. 

EXCLUSIVE: House Of Puff Launches Collaboration With Chris Wilson, Art Exhibition At NYC&#39;S Etain Cannabis Shop

RiverNorth Opportunities Fund, Inc. Common Stock

Rivernorth Opportunities Fund Inc

Rivian Automotive, Inc. - Class A Common Stock

Rivian Automotive Inc

Riviera Tool Co

Rivulet Media Inc Ordinary Shares

RIVEX TECHNOLOGY CORP by Rivex Technology Corp.

Rivex Technology Corp

RiverNorth Opportunities Fund, Inc. 6.00% Series A Perpetual Preferred Stock

Southwest Airlines Received Five -8 Aircraft Deliveries From Boeing In Q1 2024 And Retired Three 737-700 ("-700") Aircraft; As Result Of Boeing's Delivery Delays, Has Re-Planned Its Capacity & Delivery Expectations For Remainder Of This Year & Next

Management

L3Harris CEO Chris Kubasik On 5% Workforce Cut, Says "Was Right Thing To Do For The Business"

CLVRW

Trading Halt: Halt status updated at 4:40:00 PM ET: Quotation Resumption: News and Resumption Times

Offerings

ACHV

Achieve Life Sciences Files Prospectus Related To Offer & Sale From Time To Time Of Up To 13.1M Shares Of Common Stock, By Selling Stockholders

SQFT

Presidio Property Trust Inc Files For Mixed Shelf Offering Of Up To $50M

Business Outlook
The Company expects its total revenues to be in the range of RMB310 million to RMB320 million in the first quarter of 2024. This forecast reflects the Company's current and preliminary views on the market and operational conditions, which are subject to change and cannot be predicted with reasonable accuracy as of the date hereof. &nbsp;

Guidance

Scienjoy Holding Sees Q1 2024 Revenue RMB310 Million To RMB320 Million

Fiscal Year 2023 Financial Results
Total revenues decreased by 25.0% to RMB1,464.9 million (US$206.3 million) for the year ended December 31, 2023 from RMB1,953.3 million for the year ended December 31, 2022, primarily caused by decrease of paying users and average revenue per paying user ("ARPPU") due to competitive landscape of China's mobile live streaming market.&nbsp;
Cost of revenues decreased by 23.8% to RMB1,272.1 million (US$179.2 million) for the year ended December 31, 2023 from RMB1,670.1 million for the year ended December 31, 2022. The decrease was primarily attributable to a 23.8%, or RMB362.1 million, year-over-year decrease in the Company's revenue sharing fees and content costs. &nbsp;
Gross profit decreased by 31.9% to RMB192.7 million (US$27.1 million) for the year ended December 31, 2023 from RMB283.2 million for the year ended December 31, 2022.
Total operating expenses increased by 27.4% to RMB169.9 million (US$23.9 million) for the year ended December 31, 2023 from RMB133.4 million for the year ended December 31, 2022.
<ul>
<li>Sales and marketing expenses decreased by 36.3% to RMB1.4 million (US$0.2 million) for the year ended December 31, 2023 from RMB2.1 million for the year ended December 31, 2022, primarily due to fewer marketing activities as the Company tightened the budget based on current operating needs.</li>
<li>General and administrative expenses increased by23.9% to RMB75.6 million (US$10.6 million) for the year ended December 31, 2023 from RMB61.0 million for the year ended December 31, 2022. The increase was primarily due to an increase of RMB4.9 million in employee salary and welfare, an increase of RMB4.0 million in share base compensations and an increase of RMB2.5 million office renovation expenses.</li>
<li>Research and development expenses increased by 11.2% to RMB75.1 million (US$10.6 million) for the year ended December 31, 2023 from RMB67.5 million for the year ended December 31, 2022, due to an increase of RMB7.5 million in employee salary and welfare.</li>
<li>Provision for doubtful accounts increased by 552.2% to RMB17.9 million (US$2.5 million) for the year ended December 31, 2023 from RMB2.7 million for the year ended December 31, 2022, primary due to one-time credit loss provision of RMB16.3 million for the loan receivable.</li>
</ul>
Income from operations decreased by 84.8% to RMB22.8 million (US$3.2 million) for the year ended December 31, 2023 from RMB149.8 million for the year ended December 31, 2022. If excluded one-time provision for credit loss of RMB16.3 million, our income from operation would amount to RMB39.1 million (US$5.5 million) for the year ended December 31, 2023.
Change in fair value of contingent consideration amounted to a loss of RMB5.6 million (US$0.8 million) for the year ended December 31, 2023, as compared to a gain of RMB 13.1 million for the year ended December 31, 2022. Change in fair value of contingent consideration is derived from earn out liabilities resulted from historical acquisitions. The fair value of the contingent consideration is re-measured at each reporting period, and the change in fair value is recognized as either income or expense.&nbsp;
Change in fair value of warrants liability&nbsp;decreased to a gain of RMB 0.2 million (US$0.02 million) for the year ended December 31, 2023 from a gain of RMB10.8 million for the year ended December 31, 2022. The fair value of the Company's warrants derivative liability assumed from the SPAC acquisition is re-measured to its fair value at the end of each reporting period, with the change being recorded as other expense or gain.
Change in fair value of investment in marketable security amounted to a loss of RMB9.0 million (US$1.3 million) for the year ended December 31, 2023, as compared with a gain of RMB1.8 million for year ended December 31, 2022. The change was primarily attributable to the fair value changes in investments in publicly traded company.
Investment loss amounted to RMB31.3 million (US$4.4 million) for the year ended December 31, 2023 as compared with an investment income of RMB25.4 million for the year ended December 31, 2022. The investment loss for the year ended December 31, 2023 was primarily attributable to one-time share of unrealized loss of RMB30.7 million in the long-term investments.
Impairment of long-term investments amounted to RMB11.8 million (US$1.7 million) for the year ended December 31, 2023, and no such impairment suffered for the year ended December 31, 2022.
Net loss amounted to RMB35.0 million (US$4.9 million)&nbsp;for the year ended December 31 2023, as compared to a net income of RMB195.2 million for the year ended December 31, 2022.&nbsp;
Net loss attributable to the Company's shareholders amounted to RMB30.8 million (US$4.3 million) for the year ended December 31, 2023, as compared to a net income attributable to the Company's shareholders of RMB193.3 million for the year ended December 31, 2022. If excluded one-time expenses amounting to RMB58.8 million in investment impairment, share of unrealized loss, and provision for credit loss, the Company had net income attributable to the Company's shareholders of RMB28.0 million (US$3.9 million) for the year ended December 31, 2023.
Adjusted net loss attributable to the Company's shareholders&nbsp;amounted to RMB11.7 million (US$1.6 million) for the year ended December 31, 2023, as compared to a net income adjusted attributable to the Company's shareholders of RMB181.4 million for the year ended December 31, 2022.
Basic and diluted net loss attributable to the Company's shareholders per ordinary share were both RMB0.76 (US$0.11) for the year ended December 31, 2023. In comparison, basic and diluted net income attributable to the Company's shareholders per ordinary share were both RMB4.92 for the year ended December 31, 2022.
Adjusted basic and diluted net loss attributable to the Company's shareholders per ordinary share were both RMB0.29 (US$0.04) for the year ended December 31, 2023. In comparison, adjusted basic and diluted net income attributable to the Company's shareholders per ordinary share were both RMB4.62 for the year ended December 31, 2022.
As of December 31, 2023, the Company had&nbsp;cash and cash equivalents of RMB205.5 million (US$28.9 million), which represented an increase of 17.2% from RMB175.3 million as of December 31, 2022.

Earnings

Scienjoy Holding FY23 EPS $(0.04); Revenue $206.3M

Ebang Intl Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBON#NASDAQ">EBON</a>) reported quarterly losses of $(5.86) per share. This is a 16.64 percent increase over losses of $(7.03) per share from the same period last year. The company reported $4.86 million in sales this quarter. This is a 84.98 percent decrease over sales of $32.33 million the same period last year.

EBON

Ebang Intl Hldgs FY EPS $(5.86) Up From $(7.03) YoY, Sales $4.86M Down From $32.33M YoY

CB Financial Services (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBFV#NASDAQ">CBFV</a>) reported quarterly earnings of $0.62 per share which beat the analyst consensus estimate of $0.55 by 12.73 percent. This is a 19.48 percent decrease over earnings of $0.77 per share from the same period last year.

Earnings Beats

CBFV

CB Financial Services Q1 Adj $0.62 Beats $0.55 Estimate

CLVR

Trading Halt: Halt status updated at 4:35:00 PM ET: Quotation Resumption: News and Resumption Times

Pagaya Technologies Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pgy#NASDAQ">PGY</a>) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.
Shares of this company have returned -8.4% over the past month versus the Zacks S&amp;P 500 composite&#39;s -3% change. The Zacks Technology Services industry, to which Pagaya Technologies Ltd. belongs, has lost 8% over this period. Now the key question is: Where could the stock be headed in the near term?
Although media reports or rumors about a significant change in a company&#39;s business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.
Earnings Estimate Revisions
Here at Zacks, we prioritize appraising the change in the projection of a company&#39;s future earnings over anything else. That&#39;s because we believe the present value of its future stream of earnings is what determines the fair value for its stock.
We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors&#39; interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For the current quarter, Pagaya Technologies Ltd. is expected to post earnings of $0.16 per share, indicating a change of +166.7% from the year-ago quarter. The Zacks Consensus Estimate has changed +17.7% over the last 30 days.
The consensus earnings estimate of $0.98 for the current fiscal year indicates a year-over-year change of +308.3%. This estimate has changed +22.7% over the last 30 days.
For the next fiscal year, the consensus earnings estimate of $1.97 indicates a change of +100.5% from what Pagaya Technologies Ltd. is expected to report a year ago. Over the past month, the estimate has changed +8.2%.
With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock&#39;s near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Pagaya Technologies Ltd.
The chart below shows the evolution of the company&#39;s forward 12-month consensus EPS estimate:
12 Month EPS
Projected Revenue Growth
While earnings growth is arguably the most superior indicator of a company&#39;s financial health, nothing happens as such if a business isn&#39;t able to grow its revenues. After all, it&#39;s nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it&#39;s important to know a company&#39;s potential revenue growth.
In the case of Pagaya Technologies Ltd. the consensus sales estimate of $229.45 million for the current quarter points to a year-over-year change of +22.9%. The $997.77 million and $1.23 billion estimates for the current and next fiscal years indicate changes of +26% and +23.6%, respectively.
Last Reported Results and Surprise History
Pagaya Technologies Ltd. reported revenues of $218.04 million in the last reported quarter, representing a year-over-year change of +13%. EPS of $0.24 for the same period compares with -$0.12 a year ago.
Compared to the Zacks Consensus Estimate of $222.74 million, the reported revenues represent a surprise of -2.11%. The EPS surprise was -33.33%.
The company could not beat consensus EPS estimates in any of the last four quarters. The company topped consensus revenue estimates two times over this period.
Valuation
Without considering a stock&#39;s valuation, no investment decision can be efficient. In predicting a stock&#39;s future price performance, it&#39;s crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company&#39;s growth prospects.
While comparing the current values of a company&#39;s valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S) and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock&#39;s price.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Pagaya Technologies Ltd. is graded B on this front, indicating that it is trading at a discount to its peers.
Conclusion
The facts discussed here and much other information on Zacks.com might help determine whether or not it&#39;s worthwhile paying attention to the market buzz about Pagaya Technologies Ltd. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
<a href="https://www.zacks.com/stock/news/2262045/pagaya-technologies-ltd-pgy-is-a-trending-stock-facts-to-know-before-betting-on-it?cid=CS-BENZ-FT-tale_of_the_tape|most_searched_stocks_-_v1-2262045">To read this article on Zacks.com click here.</a>

Small Cap

Tech

Trading Ideas

Pagaya Technologies Ltd. Is a Trending Stock: Facts to Know Before Betting on It

<div>Pam Transportation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ptsi#NASDAQ">PTSI</a>), the auto industry-focused truckload carrier whose stock has been battered in the past year and beyond, is buying back some of its shares through a process known as a Dutch auction. </div>

Companies buy back their stock frequently but generally do so in a lower-key manner, entering the market as an occasional or frequent buyer operating through the normal processes of the equity markets. Companies often declare their intention to buy back stock over a certain period, but the specifics of those purchases are far less transparent and open-ended than in a Dutch auction.

By contrast, Pam announced the Dutch auction in a press release and in a Securities and Exchange Commission filing Wednesday.

If one of the goals of the Dutch auction was to boost the company's stock price, it was working Thursday. At approximately 1:30 p.m., Pam stock was up $2.97, a gain of 20.43%, to $17.51. <script type="text/javascript">
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Pam's stock set its 52-week high on June 7, 2023, when it reached $28.77. Its 52-week low was $13.51 on Monday, a decline of 53% since the 52-week high.

The stock decline has been more dramatic since its high-water mark of near $40 in November 2022. The percentage decline from the peak to the recent 52-week low is roughly two-thirds. 

Pam has not paid a dividend since a special one-time payout in 2012.

Pam executives are prohibited from discussing the offer while it is in what is known as "quiet time" before an action governed by SEC rules. <script type="text/javascript">
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However, the goals of the auction were set forth in a company filing with the SEC.

"Our Board of Directors has determined that the Offer is a prudent use of our financial resources and presents an appropriate balance between meeting the needs of our business and delivering value to our stockholders" the document said. "Our Board of Directors determined that a cash tender offer is an appropriate mechanism to return capital to stockholders that seek liquidity under current market conditions while, at the same time, allowing other stockholders to share in a higher portion of our future potential."

The auction "provides stockholders (particularly those who, because of the size of their shareholdings, might not be able to sell their shares without potential disruption to the share price) with an opportunity to obtain liquidity with respect to all or a portion of their shares, without potential disruption to the share price and the usual transaction costs associated with market sales."

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One shareholder who fits the bill of not being able to sell without "potential disruption to the share price" is Pam Chairman Matthew Moroun and the trusts his family controls. Those individuals and trusts own more than 50% of the company, according to Pam's 10-K filing with the SEC in March. 

The SEC filings note that management participation in the Dutch auction is permitted.

But even shareholders who get shut out or choose to sit out the auction will benefit, Pam's filing said. "If we complete the offer, stockholders who do not participate in the offer will automatically increase their relative percentage ownership interest in us and our future operations at no additional cost to them" the company said.

In a Dutch auction, shareholders are invited to offer their shares at a designated price. Pam has set the range for bids it will accept as $15.50 to $18. All of the bids are in increments of 50 cents.

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What the Dutch auction offer looks like

Pam then would review the bids and accept up to 550,000 shares at the lowest price it can select to fulfill its goal of buying that quantity. The quantity is about 2.5% of the number of outstanding Pam shares.

Under Dutch auction procedures, the company can choose to accept fewer than 550,000 shares. Pam also can buy shares in excess of 550,000.

The offer is open until May 22.

Master Class, the online education offering, laid out in one of its presentations the pros and cons of a Dutch auction. Its benefits: It is faster than a traditional auction (and the normal process for buying and selling shares is a type of auction); it might benefit a company like Pam because the shareholders looking to sell their shares "don't know what prices the other bidders are willing to pay. This uncertainty can make them more willing to pay a higher price to make a successful bid and quickly achieve closure"; and the process can "help determine the best asking price." For that reason, Dutch auctions are often used to sell shares in an IPO rather than having the underwriters set the price.

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Pam's fortunes have long been tied to the fate of the automotive industry. In its 10-K filing with the SEC for this year, Pam said its top five customers, based on revenue, accounted for about 34% of its revenue. General Motors accounted for about 12%.

Few analysts cover Pam stock. But CFRA, an independent research firm, has a buy rating on the company's stock.

Pam had a tough first quarter. Its revenue net of fuel was $161 million, down from $193.4 million a year earlier. The company was barely profitable, with net earnings of 1 cent per share, but posted an operating loss. A year ago, net income was 23 cents.

The post <a href="https://www.freightwaves.com/news/pam-sets-dutch-auction-to-buy-back-shares-battered-stock-price-soars">Pam sets Dutch auction to buy back shares; battered stock price soars</a> appeared first on <a href="https://www.freightwaves.com">FreightWaves</a>.

PTSI

Pam Sets Dutch Auction to Buy Back Shares; Battered Stock Price Soars

Affinity Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFBI#NASDAQ">AFBI</a>) reported quarterly earnings of $0.20 per share. This is a 23.08 percent decrease over earnings of $0.26 per share from the same period last year.

AFBI

Affinity Bancshares Q1 EPS $0.20 Down From $0.26 YoY

In the latest market close, Alibaba (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/baba#NYSE">BABA</a>) reached $75.11, with a +0.64% movement compared to the previous day. This change outpaced the S&amp;P 500&#39;s 0.46% loss on the day. At the same time, the Dow lost 0.98%, and the tech-heavy Nasdaq lost 0.64%.
Shares of the online retailer witnessed a gain of 4.25% over the previous month, beating the performance of the Retail-Wholesale sector with its loss of 3.05% and the S&amp;P 500&#39;s loss of 3.04%.
Market participants will be closely following the financial results of Alibaba in its upcoming release. The company is expected to report EPS of $1.20, down 23.08% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $30.83 billion, up 1.7% from the year-ago period.
Investors should also take note of any recent adjustments to analyst estimates for Alibaba. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts&#39; favorable outlook on the company&#39;s business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we&#39;ve formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 9.8% decrease. As of now, Alibaba holds a Zacks Rank of #4 (Sell).
From a valuation perspective, Alibaba is currently exchanging hands at a Forward P/E ratio of 9.01. This expresses a discount compared to the average Forward P/E of 21.16 of its industry.
The Internet - Commerce industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 38, placing it within the top 16% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
<a href="https://www.zacks.com/stock/news/2262738/why-the-market-dipped-but-alibaba-baba-gained-today?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_6-2262738">To read this article on Zacks.com click here.</a>

BABA

Why the Market Dipped But Alibaba Gained Today

USCB Financial Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/uscb#NASDAQ">USCB</a>)&nbsp;came out with quarterly earnings of $0.23 per share, beating the Zacks Consensus Estimate of $0.21 per share. This compares to earnings of $0.29 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 9.52%. A quarter ago, it was expected that this company would post earnings of $0.22 per share when it actually produced earnings of $0.17, delivering a surprise of -22.73%.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
USCB Financial, which belongs to the Zacks Banks - Southeast industry, posted revenues of $17.62 million for the quarter ended March 2024, surpassing the Zacks Consensus Estimate by 2.30%. This compares to year-ago revenues of $18.07 million. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
USCB Financial shares have lost about 15.1% since the beginning of the year versus the S&amp;P 500&#39;s gain of 6.3%.
What&#39;s Next for USCB Financial?
While USCB Financial has underperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for USCB Financial: mixed. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.23 on $17.82 million in revenues for the coming quarter and $0.95 on $73.11 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Southeast is currently in the top 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, United Bancorporation of Alabama, Inc. (UBAB), has yet to report results for the quarter ended March 2024.
This company is expected to post quarterly earnings of $1.71 per share in its upcoming report, which represents a year-over-year change of -8.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
United Bancorporation of Alabama, Inc.&#39;s revenues are expected to be $17.93 million, up 5% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2262747/uscb-financial-holdings-inc-uscb-q1-earnings-and-revenues-top-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2262747">To read this article on Zacks.com click here.</a>

USCB

USCB Financial Holdings, Inc. Q1 Earnings and Revenues Top Estimates

The world&#39;s largest software maker &mdash; Microsoft (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) &mdash; reported strong third-quarter fiscal 2024 results, beating earnings and revenue estimates. driven by strong demand for cloud and artificial intelligence offerings. 
Buoyed by robust results, shares of MSFT jumped as much as 5% in after-market hours. Investors could tap the opportune moment in this software leader through ETFs having double-digit exposure to Microsoft. These are Select Sector SPDR Technology ETF (ARCA:XLK), MSCI Information Technology Index ETF (ARCA:FTEC), iShares Global Tech ETF (ARCA:IXN), Vanguard Information Technology ETF (ARCA:VGT) and iShares Dow Jones US Technology ETF (ARCA:IYW).
<h3>Earnings in Focus</h3>
Earnings per share came in at $2.94, beating the Zacks Consensus Estimate of $2.81 and were 20% higher than the year-ago earnings. Revenues grew 17% year over year to $61.9 billion, edging past the consensus estimate of $60.63 billion. 
Intelligent Cloud revenues jumped 21% year over year. Sales of Office 365 Commercial and Dynamic 365 climbed 15% and 23%, respectively. Sales of the flagship Azure computing platform grew 31% year over year. 
The software maker invested billions of dollars into AI in a bid to turbocharge its growth, particularly its cloud computing services, and is now reaping the fruits. About 7% of the increase in Azure revenues came from AI. Microsoft CEO Satya Nadella said on a call that 65% of Fortune 500 companies are using the Azure service that delivers OpenAI&#39;s technology to businesses. Demand for generative AI will continue to fuel Microsoft&#39;s cloud business. 
Microsoft is now emphasizing AI transformation through its new offerings like Microsoft Copilot. &quot;Microsoft Copilot and Copilot stack are orchestrating a new era of AI transformation, driving better business outcomes across every role and industry&quot; Nadella said. 
Microsoft expects revenues of $63.5-$64.5 billion for fiscal fourth-quarter 2024. The Zacks Consensus Estimate is pegged at $64.49 billion.
<h3>ETFs in Focus</h3>
Select Sector SPDR Technology ETF (ETF:XLK) 
Select Sector SPDR Technology ETF is the most popular and liquid ETF in the technology space, with AUM of $61.8 billion and an average daily volume of 7 million shares. It offers broad exposure to the technology sector and follows the Technology Select Sector Index. Select Sector SPDR Technology ETF holds about 65 securities in its basket, with Microsoft occupying the top position at 23.5%. 
Select Sector SPDR Technology ETF charges 9 bps in fees per year from investors and has a Zacks ETF Rank #1 with a Medium risk outlook. 
MSCI Information Technology Index ETF (FTEC) 
MSCI Information Technology Index ETF is home to 303 technology stocks with AUM of $9.1 billion. It follows the MSCI USA IMI Information Technology Index. Microsoft is the top firm with an 18.3% allocation. 
MSCI Information Technology Index ETF has 0.08% in expense ratio, while volume is solid at 253,000 shares a day. It carries a Zacks ETF Rank #1 with a Medium risk outlook. 
iShares Global Tech ETF (ETF:IXN) 
iShares Global Tech ETF provides exposure to electronics, computer software and hardware, and informational technology companies by tracking the S&amp;P Global 1200 Information Technology 4.5/22.5/45 Capped Index. Holding 117 stocks in its basket, Microsoft occupies the top spot with a 20.1% share. 
iShares Global Tech ETF has amassed $4.2 billion in its asset base and trades in a good volume of 223,000 shares a day, on average. The expense ratio is 0.41%. 
Vanguard Information Technology ETF (ETF:VGT) 
Vanguard Information Technology ETF manages about $61.3 billion in its asset base and provides exposure to 313 technology stocks. It currently tracks the MSCI US Investable Market Information Technology 25/50 Index. Here, MSFT occupies the top position with an 18.3% share. 
Vanguard Information Technology ETF has an expense ratio of 0.10%, while volume is solid at nearly 434,000 shares. It has a Zacks ETF Rank #1 with a Medium risk outlook. 
iShares U.S. Technology ETF (ETF:IYW) 
iShares U.S. Technology ETF provides exposure to U.S. electronics, computer software and hardware, and informational technology companies. It tracks the Russell 1000 Technology RIC 22.5/45 Capped Index, holding 131 securities in its basket. Of these, Microsoft occupies the top position in the basket, with 18.6% of the assets. 
iShares Dow Jones US Technology ETF has AUM of $15.8 billion and charges 40 bps in fees and expenses. Volume is good as it exchanges nearly 909,000 shares a day. IYW has a Zacks ETF Rank #1 with a Medium risk outlook.
<a href="https://www.zacks.com/stock/news/2263342/etfs-to-buy-as-cloud-ai-power-microsoft-s-q3-earnings?cid=CS-BENZ-FT-etf_news_and_commentary-2263342">To read this article on Zacks.com click here.</a>

ETFs

FTEC

iShares Trust S&P Global Information Technology Sector Index Fund

iShares Dow Jones US Technology Sector Index Fund

MSFT

ETFs to Buy as Cloud, AI Power Microsoft's Q3 Earnings

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.
The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.
Zacks Premium includes access to the Zacks Style Scores as well.
What are the Zacks Style Scores?
The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value Score
Value investors love finding good stocks at good prices, especially before the broader market catches on to a stock&#39;s true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth Score
Growth investors, on the other hand, are more concerned with a company&#39;s financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum Score
Momentum traders and investors live by the saying &quot;the trend is your friend.&quot; This investing style is all about taking advantage of upward or downward trends in a stock&#39;s price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM Score
If you like to use all three kinds of investing, then the VGM Score is for you. It&#39;s a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank
The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company&#39;s earnings expectations, to make building a winning portfolio easier.
Investors can count on the Zacks Rank&#39;s success, with #1 (Strong Buy) stocks producing an unmatched +25.41% average annual return since 1988, more than double the S&amp;P 500&#39;s performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That&#39;s where the Style Scores come in.
You want to make sure you&#39;re buying stocks with the highest likelihood of success, and to do that, you&#39;ll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only as a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock&#39;s earnings estimate revisions should be a key factor when choosing which stocks to buy.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Hasbro
Based in Pawtucket, RI, Hasbro Inc.&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/has#NASDAQ">HAS</a>) is engaged in the design, manufacture and marketing of games and toys. The company, founded in 1923, offers traditional, high-tech and digital toys, games and licensed products under various well-known brands.
HAS is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
Additionally, the company could be a top pick for growth investors. HAS has a Growth Style Score of A, forecasting year-over-year earnings growth of 35.1% for the current fiscal year.
Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.12 to $3.39 per share. HAS boasts an average earnings surprise of 17.5%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, HAS should be on investors&#39; short list.
<a href="https://www.zacks.com/stock/news/2263284/here-s-why-hasbro-has-is-a-strong-growth-stock?cid=CS-BENZ-FT-tale_of_the_tape|zacks_education_growth_score-2263284">To read this article on Zacks.com click here.</a>

Here's Why Hasbro is a Strong Growth Stock

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
Zacks Premium includes access to the Zacks Style Scores as well.
What are the Zacks Style Scores?
Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value Score
Finding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth Score
Growth investors, on the other hand, are more concerned with a company&#39;s financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum Score
Momentum trading is all about taking advantage of upward or downward trends in a stock&#39;s price or earnings outlook, and these investors live by the saying &quot;the trend is your friend.&quot; The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
VGM Score
If you like to use all three kinds of investing, then the VGM Score is for you. It&#39;s a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank
The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company&#39;s earnings expectations, to help investors build a successful portfolio.
#1 (Strong Buy) stocks have produced an unmatched +25.41% average annual return since 1988, which is more than double the S&amp;P 500&#39;s performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.
That&#39;s where the Style Scores come in.
To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock&#39;s earnings estimate revisions should be a key factor when choosing which stocks to buy.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Dropbox (DBX)
Dropbox (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dbx#NASDAQ">DBX</a>) offers a cloud-based platform that businesses and individuals can create, access and share digital content globally. It serves more than 700 million registered users across approximately 180 countries.
DBX is a #2 (Buy) on the Zacks Rank, with a VGM Score of B.
Additionally, the company could be a top pick for growth investors. DBX has a Growth Style Score of B, forecasting year-over-year earnings growth of 1.5% for the current fiscal year.
One analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0 to $2.01 per share. DBX boasts an average earnings surprise of 13.5%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, DBX should be on investors&#39; short list.
<a href="https://www.zacks.com/stock/news/2263290/here-s-why-dropbox-dbx-is-a-strong-growth-stock?cid=CS-BENZ-FT-tale_of_the_tape|zacks_education_growth_score-2263290">To read this article on Zacks.com click here.</a>

Here's Why Dropbox is a Strong Growth Stock

For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Applied Materials (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amat#NASDAQ">AMAT</a>) one of those stocks right now? A quick glance at the company&#39;s year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Applied Materials is a member of the Computer and Technology sector. This group includes 618 individual stocks and currently holds a Zacks Sector Rank of #6. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Applied Materials is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AMAT&#39;s full-year earnings has moved 5.7% higher within the past quarter. This signals that analyst sentiment is improving and the stock&#39;s earnings outlook is more positive.
According to our latest data, AMAT has moved about 21.9% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 7.3% on a year-to-date basis. As we can see, Applied Materials is performing better than its sector in the calendar year.
One other Computer and Technology stock that has outperformed the sector so far this year is D-Wave Quantum Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/qbts#NYSE">QBTS</a>). The stock is up 68.2% year-to-date.
Over the past three months, D-Wave Quantum Inc.&#39;s consensus EPS estimate for the current year has increased 35.7%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Applied Materials belongs to the Semiconductor Equipment - Wafer Fabrication industry, a group that includes 4 individual stocks and currently sits at #93 in the Zacks Industry Rank. On average, this group has gained an average of 19.3% so far this year, meaning that AMAT is performing better in terms of year-to-date returns.
D-Wave Quantum Inc. however, belongs to the Internet - Software industry. Currently, this 139-stock industry is ranked #62. The industry has moved +8.4% so far this year.
Applied Materials and D-Wave Quantum Inc. could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
<a href="https://www.zacks.com/stock/news/2263248/is-applied-materials-amat-outperforming-other-computer-and-technology-stocks-this-year?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_1-2263248">To read this article on Zacks.com click here.</a>

AMAT

QBTS

Is Applied Materials Outperforming Other Computer and Technology Stocks This Year?

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
Zacks Premium also includes the Zacks Style Scores.
What are the Zacks Style Scores?
The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value Score
Finding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth Score
Growth investors, on the other hand, are more concerned with a company&#39;s financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum Score
Momentum traders and investors live by the saying &quot;the trend is your friend.&quot; This investing style is all about taking advantage of upward or downward trends in a stock&#39;s price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM Score
If you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It&#39;s also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank
A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company&#39;s earnings outlook, to help investors create a successful portfolio.
It&#39;s highly successful, with #1 (Strong Buy) stocks producing an unmatched +25.41% average annual return since 1988. That&#39;s more than double the S&amp;P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That&#39;s where the Style Scores come in.
To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock&#39;s earnings estimate revisions should be a key factor when choosing which stocks to buy.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Dell Technologies 
Dell Technologies&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dell#NYSE">DELL</a>) is a leading provider of servers, storage and PCs. It offers secure, integrated solutions that extend from the edge to the core to the cloud. Dell&#39;s IT solutions support customers both in traditional infrastructure and multi-cloud environments. &nbsp;
DELL is a #1 (Strong Buy) on the Zacks Rank, with a VGM Score of B.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 16.34; value investors should take notice.
Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2025. The Zacks Consensus Estimate has increased $0.54 to $7.64 per share. DELL boasts an average earnings surprise of 39.9%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, DELL should be on investors&#39; short list.
<a href="https://www.zacks.com/stock/news/2263258/here-s-why-dell-technologies-dell-is-a-strong-value-stock?cid=CS-BENZ-FT-tale_of_the_tape|zacks_education_value_score-2263258">To read this article on Zacks.com click here.</a>

DELL

Here's Why Dell Technologies is a Strong Value Stock

RIV: Fund Of Funds, 15% Yield

Notable earnings before Wednesday's open

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ASGI

BCAT

BILI

CCIF

CEFS

CSCO

DLTR

ECAT

ENPH

FSLR

FTCH

ICLN

LCID

OCCI

PDCO

PSHZF

QCLN

ROAD

TSLA

WOOF

Press Releases

RiverNorth Closed-End Funds Declare Monthly Distributions

RiverNorth Opportunities Fund, Inc., RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Capital and Income Fund, Inc. Announce Preferred Dividends

RFMZ

RMMZ

Riviera Holdings