Revolution Medicines Stock (NASDAQ: RVMD)

Revolution Medicines (NASDAQ:RVMD) Stock, Quote.Headers.trade-ideas

Revolution Medicines

Revolution Medicines Inc is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit elusive, frontier targets within notorious growth and survival pathways, with particular emphasis on the RAS and mTOR signaling pathways. The company's products includes RMC-4630, a SHP2 inhibitor, RAS(ON) portfolio, and SOS1 and 4EBP1/mTORC1 programs.

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Top 3 Health Care Stocks That Should Keep You Up At Night This Quarter

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Why Helen of Troy Shares Are Trading Lower By Around 30%? Here Are Other Stocks Moving In Tuesday&#39;s Mid-Day Session

Revolution Medicines, Inc. - Common Stock

Revolution Medicines Inc

Investors are always looking for stocks that are poised to beat at earnings season and Jefferies Financial Group Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jef#NYSE">JEF</a>) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Jefferies Financial is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings &mdash; with the most up-to-date information possible &mdash; is a pretty good indicator of some favorable trends underneath the surface for JEF in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at 84 cents per share for JEF, compared to a broader Zacks Consensus Estimate of 80 cents per share. This suggests that analysts have very recently bumped up their estimates for JEF, giving the stock a Zacks Earnings ESP of +5.66% heading into earnings season.
<h2>Jefferies Financial Group Inc. Price and EPS Surprise</h2>
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<img alt="Jefferies Financial Group Inc. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/03/1726742586.png" style="height:266px; width:538px" title="" />
Jefferies Financial Group Inc. price-eps-surprise | Jefferies Financial Group Inc. Quote
</div>
<h2>Why is this Important?</h2>
A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns.
Given that JEF has a Zacks Rank #2 (Buy) and an ESP in positive territory, investors might want to consider this stock ahead of earnings.
Clearly, recent earnings estimate revisions suggest that good things are ahead for Jefferies Financial, and that a beat might be in the cards for the upcoming report.
<a href="https://www.zacks.com/stock/news/2338354/why-earnings-season-could-be-great-for-jefferies-financial-jef?cid=CS-BENZ-FT-tale_of_the_tape|earnings_surprise-2338354">To read this article on Zacks.com click here.</a>

Earnings

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Why Earnings Season Could Be Great for Jefferies Financial

Authorities have arrested two individuals involved in a sophisticated <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40799485/cryptocurrency-scams-cost-americans-5-6b-in-2023-fbi-report-shows">$243 million cryptocurrency heist</a> targeting a Genesis creditor.
What Happened: The arrests were made after an intensive investigation into a social engineering scheme carried out by a group of cybercriminals, which included compromising personal accounts and exploiting cryptocurrency platforms.
Onchain investigator ZachXBT <a href="https://x.com/zachxbt/status/1836753450672988649">said</a> the crime, which occurred on Aug. 19, began when the attackers impersonated Google Support via a spoofed phone number to gain access to the victim's personal accounts.
They followed up with a second call pretending to be Gemini support, claiming the victim's account was compromised. 
Using these social engineering tactics, the attackers convinced the victim to reset their two-factor authentication (2FA) and transfer funds to a compromised wallet. 
The hackers also gained access to the victim's private keys via AnyDesk, a remote desktop tool.
Once in control of the funds, the cybercriminals swiftly moved $243 million across multiple wallets, splitting it between several individuals involved in the scheme. 
According to ZachXBT's investigation, the stolen funds were transferred between various cryptocurrencies—including Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Litecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ltc/usd">LTC</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Monero (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xmr/usd">XMR</a>)—through at least 15 different exchanges.
Key figures in the crime, identified as Greavys (Malone Iam), Wiz (Veer Chetal), and Box (Jeandiel Serrano), played distinct roles in the operation.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40937057/bitcoin-ethereum-etfs-see-over-50m-net-outflows-despite-feds-50-bps-rate-cut">Bitcoin, Ethereum ETFs See Over $50M Net Outflows Despite Fed&#8217;s 50 Bps Rate Cut</a>
Notably, Wiz accidentally leaked his full name during a screen-sharing session, helping investigators to confirm his identity. 
Box, who posed as a representative from the Gemini exchange, also left a trail linking him to the stolen funds through reused profile pictures and wallet addresses.
Authorities were able to track the criminals&#8217; movements thanks to open-source intelligence (OSINT), with Greavys flaunting his newly acquired wealth on social media. 
His lavish lifestyle, which included spending $250,000 to $500,000 a night in clubs and gifting luxury Birkin bags, contributed to his eventual capture.
The investigation, which involved collaboration between Binance Security, CFInvestigators and zeroshadow_io, resulted in the freezing of more than $9 million in stolen funds.
Additionally, $500,000 has already been returned to the victim. 
The efforts culminated in the arrests of both Box and Greavys in Miami and Los Angeles.
What&#8217;s Next: As incidents like this become more prevalent, discussions about improving cybersecurity and regulatory measures in the digital asset space will likely take center stage at Benzinga's <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40934959/anthony-scaramucci-says-donald-trump-is-a-polarizing-person-but-pulling-democrats-along-on">Anthony Scaramucci Says Donald Trump Is A &#8216;Polarizing Person&#8217; But &#8216;Pulling Democrats Along&#8217; On Crypto, Working On Distancing Kamala Harris &#8216;Away From Gary Gensler&#8217;</a></li>
</ul>
Image: Shutterstock

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

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$BTC

$ETH

$LTC

$XMR

Cybercriminals Busted For $243M Crypto Heist: They Spent Hundreds Of Thousands In Night Clubs And On Luxury Gifts

WIIM

TRMB

Trimble shares are trading higher after JP Morgan maintained a Neutral rating on the stock and raised its price target from $58 to $66.

Darden Restaurants, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) shares are trading higher. The company <a href="https://www.benzinga.com/pressreleases/24/09/n40935235/darden-restaurants-reports-fiscal-2025-first-quarter-results-declares-quarterly-dividend-and-reite" target="_blank" rel="noreferrer noopener">reported first-quarter financial results today.</a>
The company reported adjusted earnings per share of $1.75, missing <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">the analyst consensus estimate of $1.83. </a>Quarterly sales of $2.76 billion missed the street view of $2.80 billion.
&#8220;While we fell short of our expectations for the first quarter, I firmly believe in the strength of our business,&#8221; said&nbsp;Darden President&nbsp;&amp; CEO&nbsp;Rick Cardenas.
Darden&#8217;s directors have approved a quarterly cash dividend of $1.40 per share on the company&#8217;s outstanding common stock. This dividend will be paid on November 1 to shareholders, as recorded as of the close of business on October 10.
In the quarter, the company repurchased around 1.2 million shares of its common stock for a total of $172 million. By the end of the fiscal first quarter, there was $743 million left under the existing $1 billion repurchase authorization.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40939931/darden-restaurants-posts-q1-results-joins-tesla-nvidia-xpeng-and-other-big-stocks-moving-higher-on-t" rel="noreferrer noopener">Darden Restaurants Posts Q1 Results, Joins Tesla, Nvidia, XPeng And Other Big Stocks Moving Higher On Thursday</a>
The company has formed an exclusive multi-year delivery partnership with Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>), <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n40935338/darden-and-uber-partner-to-introduce-on-demand-delivery-with-olive-garden-the-first-to-pilot" rel="noreferrer noopener">starting with Olive Garden in late 2024.</a>
This agreement will allow restaurant guests to place on-demand delivery orders through Darden&#8217;s channels, with deliveries managed by Uber Direct via Uber&#8217;s national delivery network.
A pilot program for first-party delivery from select Olive Garden locations will launch in late 2024.
If the pilot is successful, national expansion at Olive Garden is anticipated to be finalized by May 2025.
Outlook: The company reiterated all aspects of its full year financial outlook for fiscal 2025, culminating in diluted net earnings per share from <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">continuing operations of&nbsp;$9.40&nbsp;to&nbsp;$9.60</a> versus $9.50 estimate, which does not include any impact from Chuy&#8217;s operations, transaction, financing and integration related costs associated with the pending acquisition.
&#8220;The significant step down in traffic during July, led to our&nbsp;first quarter&nbsp;earnings being lower than expected,&#8221; said Darden CFO Raj Vennam. &#8220;Following the softness in July, our sales trend has continued to improve.&nbsp; Considering this recovery as well as the planned initiatives to support the remainder of the fiscal year, we are reiterating our&nbsp;guidance&nbsp;for fiscal 2025.&#8221;
Price Action: DRI shares are trading higher by 7.39% to $170.90 at last check Thursday.
Photo via <a href="https://commons.wikimedia.org/wiki/File:Olive_Garden_Italian_Restaurant.jpg">Wikimedia Commons</a>
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Equities

Guidance

General

UBER

Darden Misses Q1 Earnings Estimates, Partners With Uber For Delivery Expansion

SRIVARU Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SVMH#NASDAQ">SVMH</a>, SVMHW)))) ("SRIVARU" or the "Company"), a leading innovator in the electric motorcycle market, today announced that it has received a favorable decision from the Nasdaq Hearings Panel (the "Panel"). The Panel's decision grants the Company's request for continued listing on Nasdaq, which we believe will provide SRIVARU the necessary time to implement its plan to regain compliance with Nasdaq's listing requirements. &nbsp;
Following the Company's hearing on September 5, 2024, the Panel has stipulated specific conditions for continued listing. SRIVARU must fulfill the below requirements by November 14, 2024:
<ul>
<li>Submitting a public filing and financial statements that confirm the Company meets Nasdaq's shareholder equity requirements; and &nbsp;</li>
<li>Providing detailed income projections for the next 12 months, including all underlying assumptions. &nbsp;</li>
</ul>
If the Company is able to demonstrate compliance with the stockholders' equity standard by November 14, 2024, the Panel will grant the Company additional time to complete a reverse share split, if necessary to meet the Nasdaq's minimum bid price requirement.

Stock Split

SVMH

SRIVARU Holding Limited Secures Nasdaq Panel Approval For Continued Listing Amid Compliance Efforts; If Co Demonstrates Compliance With The Stockholders' Equity Standard By November 14, 2024, Panel Will Grant The Co Additional Time To Complete A Reverse Share Split

Shares of Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>) are volatile on Thursday after the company announced that it had reached definitive agreements with affiliates of Nuveen Asset Management and <a href="https://www.benzinga.com/wiim/24/09/40936892/vistra-shares-are-trading-higher-after-the-company-announced-that-it-has-executed-definitive-agreeme">Avenue Capital Management II</a>.
What To Know: The deal involves Vistra acquiring their combined 15% equity interest in Vistra Vision, a key move to consolidate its position in the energy sector.
Vistra Vision is a subsidiary that focuses on clean energy and renewable power initiatives. This acquisition allows Vistra to fully control this division, enhancing its focus on energy transition and expanding its influence in sustainable energy markets.
&#8220;TXU Energy is proud to recognize this year&#8217;s winners and their commitment to smart energy management, ambitious sustainability practices, and leadership in the community,&#8221; said&nbsp;Gabe Castro, senior vice president of business markets for TXU Energy.
VST Price Action: Vistra shares were down slightly by 0.58% at $90.67 according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a>
<figure class="wp-block-image size-large is-resized"><a href="https://benzinga.slack.com/archives/D072651PB4K/p1722883001180099"><img loading="lazy" decoding="async" width="1024" height="565" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19112431/VST-1024x565.png" alt="" class="wp-image-556559" style="width:488px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19112431/VST-1024x565.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19112431/VST-300x166.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19112431/VST-768x424.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19112431/VST.png 1056w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
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<li><a href="https://www.benzinga.com/news/24/09/40942083/whats-going-on-with-bank-of-america-bac-shares">What&#8217;s Going On With Bank Of America (BAC) Shares</a></li>
</ul>
Photo by solarseven on Shutterstock.

What's Going On With Vistra Shares Today?

<a href="https://www.accessdata.fda.gov/scripts/opdlisting/oopd/detailedIndex.cfm?cfgridkey=1002524" title="https://www.accessdata.fda.gov/scripts/opdlisting/oopd/detailedIndex.cfm?cfgridkey=1002524">https://www.accessdata.fda.gov/scripts/opdlisting/oopd/detailedIndex.cfm?cfgridkey=1002524</a>

Biotech

uniQure Biopharma Granted Orphan Drug Designation For Its 'adeno-associated Viral Vector Serotype 5 Encoding Human Alpha-galactosidase A' For The Treatment Of Fabry Disease

TD Cowen analyst Max Rakhlenko maintains Lowe's Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) with a Hold and raises the price target from $240 to $265.

TD Cowen Maintains Hold on Lowe's Companies, Raises Price Target to $265

Upstart Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPST#NASDAQ">UPST</a>) shares are trading higher Thursday after the Federal Reserve cut interest rates by 50 basis points <a href="https://www.benzinga.com/news/earnings/24/09/40934972/wall-street-primed-for-relief-rally-as-traders-eye-jobless-claims-fedex-earnings-after-feds-50-basi">(bps) on Wednesday</a>.
The Details:
Upstart shares are climbing amid a broad market rally as investors digest the Fed's larger-than-anticipated interest rate cut which marked the first in more than four years. The rate cut brings the federal funds rate down to a range of 4.75% to 5% and will reduce rates for consumers.
Many of Upstart's business segments, including automotive loans and personal loans, could benefit from lower interest rates which may draw more borrowers to the company's offerings.
Read Next: <a href="https://www.benzinga.com/fintech/24/09/40928342/what-happened-with-sofi-stock-today">What Happened With SoFi Stock Today?</a>
Earlier this week, Upstart announced a <a href="https://www.benzinga.com/news/24/09/40883262/why-upstart-stock-is-down-today">private offering </a>of $300 million convertible senior notes due in 2029, which was later upsized to $375 million.&nbsp;
According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Upstart shares are trading above the stock&#8217;s 50-day moving average of $33.44 on above-average volume Thursday.&nbsp;&nbsp;
<h3 class="wp-block-heading">Will UPST Stock Go Up?</h3>
When trying to assess whether or not Upstart Holdings will trade higher from current levels, it's a good idea to take a look at analyst forecasts. 
Wall Street analysts have an average 12-month price target of $28.14 on Upstart. The Street high target is currently at $35 and the Street low target is $10. Of all the analysts covering Upstart Holdings, one has positive ratings, 3 have neutral ratings and 3 have negative ratings.
In the last month, one analyst has adjusted price targets. Here's a look at recent price target changes <a href="https://www.benzinga.com/quote/UPST/analyst-ratings">[Analyst Ratings]</a>. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Upstart Hldgs have performed in recent history. 
Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Upstart Holdings is 2.58% up year-to-date. The average analyst price target suggests the stock could have further downside ahead.
For a broad overview of everything you need to know about Upstart, visit <a href="https://www.benzinga.com/quote/UPST">here</a>. If you want to go above and beyond, there's no better tool to help you do just that than <a href="https://pro.benzinga.com/">Benzinga Pro</a>. Start your free trial today.
UPST Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Upstart shares are up 4.93% at $40.20 at the time of publication Thursday. 
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</ul>
Image: Courtesy of Upstart Holdings, Inc.&nbsp;

UPST

What's Going On With Upstart Holdings Stock?

The Federal Reserve has initiated its long-anticipated easing cycle, potentially setting the stage for a <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40938429/raoul-pals-chief-crypto-analyst-says-the-bull-market-is-back-when-this-indicator-hits-45-i">bullish trend in risk assets</a>, including Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and other cryptocurrencies, according to industry experts.
What Happened: Economist and crypto analyst Alex Krüger took to his X account to <a href="https://x.com/krugermacro/status/1836621688877773090">highlight</a> the Fed&#8217;s decision to implement a 50-basis point cut while projecting an additional 50 basis points of cuts for 2024. 
This balanced approach, Krüger suggests, has struck a &#8220;sweet spot&#8221; by addressing concerns about the Fed falling behind the curve while simultaneously demonstrating control rather than reactionary measures.
For cryptocurrency enthusiasts, Krüger sees a bullish outlook for Bitcoin, though he cautions that its trajectory may be heavily influenced by the upcoming U.S. election results. 
He even suggested a bold strategy for altcoins: &#8220;For altcoins, go max long early in Election Night if Trump is coming up ahead in the counts. That&#8217;s my plan.&#8221;
Krüger emphasized the robust state of the U.S. economy, a factor he considers crucial for risk assets. He pointed out a historical trend: "Historically when the Fed begins its easing cycle with no recession, equities have rallied 10% in six months, while if the Fed begins the cycle in a recession, equities have fallen by 12%.&#8221;
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></figure>
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40934438/analyst-predicts-energized-crypto-market-after-feds-decision-says-bitcoin-ethereum-">Analyst Predicts Energized Crypto Market After Fed&#8217;s Decision: Says Bitcoin, Ethereum, And DeFi Set To Rally Amid Anticipation Of Further Rate Cuts: &#8216;The Bull Market Has Started&#8217;</a>
Why It Matters: Economic strength was echoed in Fed Chair Jerome Powell's statement: "I don&#8217;t see anything in the economy that suggests the likelihood of a downturn is elevated. You see growth at a solid rate, you see inflation coming down, you see a labor market that&#8217;s still at very solid levels."
However, Krüger also tempered expectations, noting that U.S. equities are not cheap and that a return to a real negative rates environment is unlikely in the near future. He observed a significant divergence between market expectations and Fed projections for 2025, with the market pricing in a 25% probability of a hard landing.
In conclusion, Krüger&#8217;s analysis suggests that while the Fed&#8217;s easing cycle could boost risk assets, including cryptocurrencies, investors should remain vigilant of economic indicators and political developments that could shape market trends in the coming months.
What&#8217;s Next: The influence of&nbsp;<a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment" target="_blank" rel="noreferrer noopener">Bitcoin as an institutional asset class</a>&nbsp;is expected to be thoroughly explored at Benzinga&#8217;s upcoming&nbsp;<a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a>&nbsp;event on Nov. 19.
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Image: Shutterstock

What Does The Fed's Interest Rate Cut Mean For Bitcoin? 50 Bps Cut Is The 'Sweet Spot,' Says Macro Analyst

Chardan Capital analyst Geulah Livshits maintains 4D Molecular Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FDMT#NASDAQ">FDMT</a>) with a Buy and raises the price target from $38 to $39.

FDMT

Chardan Capital Maintains Buy on 4D Molecular Therapeutics, Raises Price Target to $39

Verint Systems Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRNT#NASDAQ">VRNT</a>) shares are in the spotlight Thursday after The Bear Cave released a bearish report on <a href="https://www.benzinga.com/quote/VRNT" target="_blank" rel="noreferrer noopener">the contact center company</a>.
What To Know: Short-selling firm The Bear Cave has customer experience (CX) automation company Verint Systems in its crosshairs. The short seller published a report Thursday morning titled, &#8220;Problems at Verint Systems (VRNT),&#8221; arguing that the company is likely to be disrupted by <a href="http://benzinga.com/topic/ai">AI</a> advancement.
&#8220;Verint's management insists Verint will be an AI beneficiary as customers use Verint's AI-powered bots to improve their call centers. The Bear Cave sees things differently,&#8221; the short seller said.
Benzinga has reached out to Verint Systems for comment on the report.
The Bear Cave believes AI is going to negatively impact Verint as AI-powered competitors take share from its automated bot offerings and AI agents largely replace human agents over the coming years. The short seller believes Verint will &#8220;suffer significantly&#8221; as call centers transition away from humans. 
The Bear Cave also highlighted a pair of interviews from last month in which a former sales director for Verint acknowledged that competitors have adopted AI faster than Verint, and that the company may get left behind as it continues to focus on bots. The former sales director noted that it&#8217;s not clear if Verint will still be around in another 10 or 15 years, given the amount of AI-specific startups coming into the space, according to the short seller.
Check This Out: <a href="https://www.benzinga.com/top-stories/24/09/40937593/oracle-cloudworld-highlights-ai-driven-tech-services-but-revenue-growth-requires-patience-analyst">Oracle CloudWorld Highlights &#8216;AI-Driven Tech Services,&#8217; But Revenue Growth Requires Patience: Analyst</a>
The Bear Cave highlighted some of the increasing competition including from Alphabet Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google Dialogflow, International Business Machines Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) and several startups like Yellow AI and Observe AI, which are aggressively moving into AI automation for call centers.
The firm also pointed to a recent <a href="https://www.benzinga.com/pressreleases/24/09/b40922898/t-mobile-and-openai-join-forces-to-revolutionize-the-customer-experience-with-first-ever-intent-dr">press release</a> from T-Mobile US Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>), announcing a partnership with OpenAI that aims to revolutionize the customer experience. The company expects the partnership to help automate tasks that would normally require a store visit or call to a customer service agent.
The short seller noted AI headwinds may be starting to show up in the company&#8217;s numbers. Last quarter, Verint <a href="https://www.benzinga.com/news/earnings/24/09/40737739/these-analysts-cut-their-forecasts-on-verint-systems-following-downbeat-q2-results">missed analyst estimates</a> on the top and bottom lines and issued soft guidance for the full year.
&#8220;The future is not bots, the future is not human agents, and the future is certainly not Verint,&#8221; the short seller said.
VRNT Price Action: Verint shares were up 0.67% at $26.38 at the time of publication Thursday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
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Photo: Shutterstock

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Short Seller Targets Verint Systems Stock As AI Threat Emerges: 'The Future Is Certainly Not Verint'

Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) shares are trading higher Thursday as investors digest the first interest rate cut from the <a href="https://www.benzinga.com/news/earnings/24/09/40934972/wall-street-primed-for-relief-rally-as-traders-eye-jobless-claims-fedex-earnings-after-feds-50-basi">Federal Reserve in four years.</a>
The Details:
The Federal Reserve announced a 50 basis point (bps) cut Wednesday, bringing the federal funds rate down to a range of 4.75% to 5% and increasing the appeal of risk assets like stocks and cryptocurrencies.
Cryptocurrencies are rising with the broad market rally Thursday following Wednesday's rate cut. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is trading above the $63,000 level and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) is up 2.17% over the past 24 hours. Both cryptocurrencies saw <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40926729/bitcoin-spikes-above-61-000-as-fed-implements-50-bps-rate-cut">increased trading</a> following the Federal Reserve&#8217;s surprise decision, which exceeded the anticipated 25 basis point cut.
Read Next: <a href="https://www.benzinga.com/fintech/24/09/40928342/what-happened-with-sofi-stock-today">What Happened With SoFi Stock Today?</a>
"These markets should benefit from the formalization of the Fed&#8217;s dovish shift. Our long-term investment thesis for Bitcoin remains intact, and regardless of the near-term direction of monetary policy, BTC is well-positioned for growth as institutional adoption continues to gain momentum," Hashdex&#8217;s CIO Samir Kerbage wrote in a note sent to Benzinga.&nbsp;
Coinbase shares are climbing on above-average volume Thursday, though the stock is trading well-below its 50-day moving average of $201.46, according to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>.&nbsp;&nbsp;&nbsp;
<h3 class="wp-block-heading">Will COIN Stock Go Up?</h3>
When trying to assess whether or not Coinbase Global will trade higher from current levels, it's a good idea to take a look at analyst forecasts. 
Wall Street analysts have an average 12-month price target of $257.25 on Coinbase. The Street high target is currently at $345 and the Street low target is $169. Of all the analysts covering Coinbase, 7 have positive ratings, 3 have neutral ratings and 2 have negative ratings.
In the last month, one analyst has adjusted price targets. Here's a look at recent price target changes <a href="https://www.benzinga.com/quote/COIN/analyst-ratings">[Analyst Ratings]</a>. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Coinbase Global have performed in recent history. 
Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Coinbase is 10.56% up year-to-date. The average analyst price target suggests the stock could have further upside ahead.
For a broad overview of everything you need to know about Coinbase Global, visit <a href="https://www.benzinga.com/quote/COIN">here</a>. If you want to go above and beyond, there's no better tool to help you do just that than <a href="https://pro.benzinga.com/">Benzinga Pro</a>. Start your free trial today.
COIN Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Coinbase Global shares are up 7.11% at $174.21 at the time of publication Thursday. 
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Image: Shutterstock

COIN

What's Going On With Coinbase Stock?

MUSA

Murphy USA shares are trading lower after JP Morgan downgraded the stock from Neutral to Underweight but raised its price target from $415 to $435.

Nokia Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nok#NYSE">NOK</a>) recently inked an agreement with iSAT Africa for an undisclosed amount to enhance broadband connectivity across rural areas in Liberia. The three-year deal spanning more than 200 sites in the West African country aims to bridge the digital divide by providing a reliable, affordable and easily accessible network to underserved rural communities.
<h2>How NOK Likely Secured the Deal</h2>
Nokia is well-positioned for the ongoing technology cycle, given the strength of its end-to-end portfolio. Its installed base of high-capacity AirScale products, which enables customers to upgrade to 5G quickly, is growing fast. It is driving the transition of global enterprises into smart virtual networks by creating a single network for all services, converging mobile and fixed broadband, IP routing and optical networks with the software and services to manage them. Leveraging state-of-the-art technology, it is transforming the way people and things communicate and connect.
The company aims to create new business and licensing opportunities in the consumer ecosystem. It facilitates customers to move away from an economy-of-scale network operating model to demand-driven operations by offering easy programmability and flexible automation required to support dynamic operations, reduce complexity and improve efficiency. It seeks to expand its business into targeted, high-growth and high-margin vertical markets to address growth opportunities beyond its traditional primary markets.
<h2>What This Collaboration Brings on the Table</h2>
Nokia&#39;s partnership with this integrated communications services provider that specializes in broadcasting &amp; rural connectivity in Africa and the Middle East will seek to drive socio-economic development in the remote areas of Liberia. Per the deal, Nokia will deploy its AirScale radio portfolio along with MantaRay Network Management solutions for effective monitoring and management capabilities to address critical challenges such as limited coverage and the wide digital divide in rural regions.
<h2>Will NOK Stock Benefit?</h2>
Nokia has emerged as one of the leading players in the development of advanced 5G technology and is at the forefront of extending 5G use cases in various industries. It has laid a strong foundation of innovation through substantial infrastructure investments. This has led to the establishment of an impressive portfolio comprising approximately 20,000 patent families, including more than 6,000 patent families that are deemed crucial to 5G technology.
The collaboration with iSAT Africa is likely to propel the stock on incremental revenue generation and inducement of similar deals from other carriers in the future. The agreement is also expected to strengthen Nokia&#39;s position as a leading telecommunications equipment provider in the region.
The stock has gained 16.7% over the past six months compared with the industry&#39;s growth of 12.9%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/92/78441.jpg?v=1839641549" /> 
Image Source: Zacks Investment Research
<h2>NOK Zacks Rank &amp; Stocks to Consider</h2>
Nokia currently carries a Zacks Rank #3 (Hold).
Arista Networks, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/anet#NYSE">ANET</a>), carrying a Zacks Rank #2 (Buy) at present, is likely to benefit from strong momentum and diversification across its top verticals and product lines. The company has a software-driven, data-centric approach to help customers build their cloud architecture and enhance their cloud experiences. Arista has a long-term earnings growth expectation of 17.2% and delivered an earnings surprise of 15%, on average, in the trailing four quarters.
It holds a leadership position in 100-gigabit Ethernet switching share in port for the high-speed data center segment. Arista is increasingly gaining market traction in 200 and 400-gig high-performance switching products. It is well-positioned for healthy growth in data-driven cloud networking business with proactive platforms and predictive operations.
AudioCodes Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/audc#NASDAQ">AUDC</a>) currently carries a Zacks Rank #2. It delivered an earnings surprise of 10.1%, on average, in the trailing four quarters.
Headquartered in Lod, Israel, AudioCodes offers advanced communications software, products and productivity solutions for the digital workplace. It provides a broad range of innovative products, solutions and services that are used by large multi-national enterprises and leading tier-1 operators around the world.
Airgain, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/airg#NASDAQ">AIRG</a>) currently carries a Zacks Rank #2. It has a long-term earnings growth expectation of 35%.
Headquartered in San Diego, CA, Airgain offers integrated wireless solutions in the form of antenna products. These products are equipped to solve critical connectivity needs in both the design process and the operating environment across the enterprise, automotive and consumer markets. Ideal for original equipment and design manufacturers, vertical markets, chipset vendors, service providers, value-added resellers and software developers worldwide, the customizable antennas from Airgain serve both indoor and outdoor connectivity issues.
<a href="https://www.zacks.com/stock/news/2338515/nokia-to-help-bridge-digital-divide-in-liberia-will-the-stock-gain?cid=CS-BENZ-FT-analyst_blog|company_news_tech_sector-2338515">To read this article on Zacks.com click here.</a>

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Nokia to Help Bridge Digital Divide in Liberia: Will the Stock Gain?

Canaccord Genuity analyst Brian McNamara maintains Driven Brands Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRVN#NASDAQ">DRVN</a>) with a Buy and raises the price target from $19 to $20.

DRVN

Canaccord Genuity Maintains Buy on Driven Brands Hldgs, Raises Price Target to $20

TD Cowen analyst Karl Ackerman maintains Micron Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) with a Buy and lowers the price target from $160 to $115.

TD Cowen Maintains Buy on Micron Technology, Lowers Price Target to $115

Helix Energy Solutions shares are trading higher after Raymond James initiated coverage on the stock with a Strong Buy rating and announced a price target of $14.

Canaccord Genuity analyst Austin Moeller maintains Cibus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBUS#NASDAQ">CBUS</a>) with a Buy and lowers the price target from $21 to $20.

CBUS

Canaccord Genuity Maintains Buy on Cibus, Lowers Price Target to $20

Hut 8 Corp shares are trading higher after the company announced it expanded its partnership with BITMAIN to unveil the next-gen liquid-cooled ASIC miner for Bitcoin mining.

Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Revolution Medicines (RVMD – Research Report), Per...

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Press Releases

Revolution Medicines Announces Publications on the Discovery and Preclinical Profile of Representative of a New Class of RAS(ON) Multi-Selective Inhibitors Designed to Block Full Spectrum of Oncogenic RAS(ON) Proteins

Revolution Medicines Announces Publication on the Discovery of and Translational Research for RMC-6236, an Investigational RAS(ON) Multi-Selective Tri-Complex Inhibitor Designed to Block Full Spectrum of Oncogenic RAS(ON) Proteins

Revolution Medicines to Report Financial Results for First Quarter 2024 After Market Close on May 8, 2024

Revolution Medicines Reports First Quarter 2024 Financial Results and Update on Corporate Progress

Revolution Medicines to Participate in Goldman Sachs 45th Annual Global Healthcare Conference

SHAREHOLDER ALERT: Purcell & Lefkowitz LLP Announces Shareholder Investigation of Revolution Medicines, Inc. (NASDAQ: RVMD)

Revolution Medicines to Provide Update on RMC-6236 Pancreatic Ductal Adenocarcinoma Clinical Program on July 15, 2024

Revolution Medicines Announces Publication Demonstrating Robust Anti-Tumor Activity of RAS(ON) Inhibitors in Preclinical Models of Refractory KRAS-Mutated Non-Small Cell Lung Cancer

Revolution Medicines to Report Financial Results for Second Quarter 2024 After Market Close on August 7, 2024

Revolution Medicines Reports Second Quarter 2024 Financial Results and Update on Corporate Progress

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Revolution Medicines (RVMD) Forecast

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