Latest news for Shengda Network Tech (OTC:SDWL) Stock

Shengda Network Technology Inc operates as an online supermarket store. The store offers electronics, electrical products, clothing, toys, footwear, body care products, accessories, home appliances, books, car supplies, and other products. Revenue is generated through three main areas: traditional trade sales, offline stores, online wholesale stores.

SHENGDA NETWORK TECH by SHENGDA NETWORK TECHNOLOGY INC.

Shengda Network Technology Inc

High Tide Inc. ("High Tide" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HITI#NASDAQ">HITI</a>) (TSXV:<a class="ticker" href="https://www.benzinga.com/stock/HITI#TSXV">HITI</a>) (FSE: 2LYA), the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, announced today that it is entering the fast growing German medical cannabis market by signing a definitive agreement (the "Acquisition Agreement") pursuant to which the Company will acquire 51% of Purecan GmbH ("Purecan"), for approximately €4.8Million (the "Transaction"), and will have a future option to acquire the remaining interest in Purecan.

News

HITI

TSXV:HITI

High Tide Expands into German Medical Cannabis Market with €4.8M Acquisition of Purecan Stake

Health Care

Management

General

Pediatrix Medical Has Appointed Executive Chair Mark Ordan To Return To His Former Position As CEO, Effective Immediately, Replacing James Swift Who Assumed The CEO Role In January 2023

The Company reports 23 net new center openings in fiscal 2024, above its previous outlook of 17 to 22, comprised of 43 gross new center openings and 20 closures.
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Guidance

EWCZ

European Wax Center Reveals Net New Center Openings; Expects FY24 System-wide Sales Near High End Of Prior Outlook Driven By Strong Q4 Wax Pass Sales And Continued Loyalty Of Core Guests

Needham analyst Ami Fadia reiterates Blueprint Medicines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPMC#NASDAQ">BPMC</a>) with a Buy and maintains $135 price target.

Price Target

Reiteration

Analyst Ratings

BPMC

Needham Reiterates Buy on Blueprint Medicines, Maintains $135 Price Target

As U.S. Treasury <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42720866/bond-vigilantes-send-loud-warning-message-as-treasuries-climb-to-may-highs-is-the-s?utm_source=yahooFinance&amp;utm_campaign=partner_feed&amp;utm_medium=partner_feed&amp;utm_content=site">yields</a> approach the psychological 5% mark which it last saw briefly in 2023 and during the global financial crisis in 2008, analysts seem less concerned, calling this yield convulsion an overreaction. 
What Happened: The U.S. 30-year Treasury yielded 4.95% by the end of the trading session on Friday, however, it touched a high of 5.005% intraday. The 10-year Treasury, on the other hand, yielded an intraday high of 4.790% to settle at 4.762% on Friday.
This upmove in yields followed a strong nonfarm payroll report for December on Friday. The<a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42912480/us-economy-adds-256000-payrolls-in-december-as-tight-labor-market-tops-forecasts-dollar-treasury-yields-spike"> economy added 256,000 </a>jobs in the last month of 2024, much above the economist forecast of 165,000 jobs, the strongest since May 2024.
&#8220;It is most likely that the pressure on interest rates is being driven by inflation fears from the soon-to-be-announced tariffs that Trump 2.0 will bring,&#8221; said Louis Navellier, the chairman and founder of Navellier &amp; Associates. &#8220;The market appears to be overreacting,&#8221; he added.
Ed Yardeni and Eric Wallerstein in their note called &#8216;Bond Vigilantes Spooking Stock Jockey&#8217; said, &#8220;If Tuesday&#8217;s CPI inflation rate for December is higher than expected, causing the 10-year Treasury bond yield to revisit 2023&#8217;s high of 5.00%.&#8221;
See Also: <a href="https://www.benzinga.com/25/01/42908280/intel-aims-for-cpu-market-share-growth-ai-breakthroughs-citi-reiterates-neutral-as-new-ceo-appointment-expected-in-coming-months">Intel Stock Has Fallen Over 58% In 1 Year, But Citi Maintains &#8216;Neutral&#8217; Rating On Expected Replacement Of Pat Gelsinger In A &#8216;Couple Of Months&#8217; </a>
Why It Matters: As the stocks struggled after Friday&#8217;s reports and bond yields&#8217; reaction, Yardeni and Navellier said that this dip was a buying opportunity.
Navellier said that the market could be additionally reacting to the uncertainty on what the Fed may do. Stocks, however, are taking the higher yields to heart, he added, saying &#8220;There&#8217;s no reason to panic.&#8221; as the pullback on higher rates is likely a &#8220;buying opportunity unless earnings disappoint.&#8221;
Yardeni also reiterated its forecast of 7,000 points on the S&amp;P 500 by the end of the year. &#8220;We still believe that the 10-year Treasury bond yield should trade mostly between 4.25% and 4.75% this year. So we think that the selloffs in the stock and bond markets are buying opportunities.&#8221;
Price Action: The Dow Jones Industrial Average closed 1.63% lower at 41,938.45, down approximately 697 points. The S&amp;P 500 Index (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 1.54% to 5,827.04, while the Nasdaq Composite (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) dipped 1.63% to 19,161.63. Russell 200, on the other hand, fell 2.22% to 2,189.23.
Read Next:
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</ul>
Image Via Shutterstock

Analyst Color

Equities

Bonds

Treasuries

Economics

Markets

US Treasury Yields Near Crucial 5% Mark Last Seen During 2008 Global Financial Crisis, But Analyst Dismisses Fears, Says 'Market Appears To Be Overreacting'

Shares of Sage Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAGE#NASDAQ">SAGE</a>) rose sharply in today's pre-market trading after the company confirmed the receipt of Biogen&#8217;s nonbinding $7.22/share <a href="https://www.benzinga.com/quote/SAGE">acquisition proposal</a>.
Sage Therapeutics shares jumped 34.2% to $7.45 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Agape ATP Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATPC#NASDAQ">ATPC</a>) gained 86.5% to $2.35 in pre-market trading after gaining 8% on Friday.</li>
<li>GlucoTrack, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GCTK#NASDAQ">GCTK</a>) gained 62.3% to $0.1899 in pre-market trading after dipping over 15% on Friday.</li>
<li>Algorhythm Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIME#NASDAQ">RIME</a>) gained 47% to $0.1981 in pre-market trading after falling 18% on Friday.</li>
<li>Traws Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRAW#NASDAQ">TRAW</a>) rose 29.3% to $10.45 in pre-market trading. Expert Systems and Traws Pharma reported a breakthrough in H5N1Bird Flu Antiviral Program.</li>
<li>Cooper-Standard Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPS#NYSE">CPS</a>) gained 26.3% to $16.69 in pre-market trading.</li>
<li>Intra-Cellular Therapies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ITCI#NASDAQ">ITCI</a>) gained 22.3% to $116.00 in pre-market trading after Bloomberg Reported that J&amp;J is exploring a bid for the company.</li>
<li>Black Diamond Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BDTX#NASDAQ">BDTX</a>) gained 18.5% to $2.29 in pre-market trading following a 5% decline on Friday.</li>
<li>QMMM Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QMMM#NASDAQ">QMMM</a>) gained 18% to $1.05 in pre-market trading.</li>
<li>Arcutis Biotherapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARQT#NASDAQ">ARQT</a>) rose 14.1% to $15.75 in pre-market trading after reporting preliminary unaudited fourth quarter product revenue and full-year 2024 product revenues.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>SEALSQ Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAES#NASDAQ">LAES</a>) fell 24.8% to $4.31 in pre-market trading after gaining 9% on Friday.</li>
<li>Vision Marine Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VMAR#NASDAQ">VMAR</a>) fell 20.5% to $1.71 in today's pre-market trading after jumping 41% on Friday.</li>
<li>Direct Digital Holdings, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRCT#NASDAQ">DRCT</a>) fell 19.5% to $1.32 in pre-market trading after jumping around 38% on Friday.</li>
<li>Castellum, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTM#NYSE">CTM</a>) shares fell 18.6% to $0.8458 in pre-market trading after the company files for mixed shelf offering up to $100 million.</li>
<li>LeddarTech Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LDTC#NASDAQ">LDTC</a>) shares dipped 18.5% to $0.9624 in pre-market trading after declining around 14% on Friday.</li>
<li>Rigetti Computing, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>) fell 17% to $7.41 in pre-market trading after dipping 11% on Friday.</li>
<li>D-Wave Quantum Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QBTS#NYSE">QBTS</a>) dipped 14.5% to $4.93 in pre-market trading.</li>
<li>ScanTech AI Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STAI#NASDAQ">STAI</a>) shares fell 14.5% to $1.95 in pre-market trading after gaining around 5% on Friday.</li>
<li>Mercury General Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCY#NYSE">MCY</a>) declined 13.4% to $42.00 in pre-market trading. Mercury General shares dipped around 20% on Friday after the company announced it anticipates wildfire losses in Southern California to surpass $150 million in reinsurance retention levels.</li>
<li>Tredegar Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TG#NYSE">TG</a>) shares tumbled 8.1% to $6.82 in pre-market trading.</li>
</ul>
Now Read This: 
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<li><a href="https://www.benzinga.com/25/01/42923396/wall-streets-most-accurate-analysts-weigh-in-on-3-real-estate-stocks-with-over-7-dividend-yields-2">Wall Street&#8217;s Most Accurate Analysts Weigh In On 3 Real Estate Stocks With Over 7% Dividend Yields</a></li>
</ul>

Pre-Market Outlook

Movers

Trading Ideas

ARQT

ATPC

BDTX

DRCT

GCTK

ITCI

LAES

LDTC

QBTS

QMMM

RGTI

RIME

SAGE

STAI

TRAW

VMAR

Why Sage Therapeutics Shares Are Trading Higher By Over 34%; Here Are 20 Stocks Moving Premarket

Furniture and home goods retailer Wayfair Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>) has deepened its partnership with Google Cloud to <a href="https://www.prnewswire.com/news-releases/wayfair-and-google-cloud-announce-expanded-partnership-to-transform-online-retail-with-gemini-302348276.html" target="_blank" rel="noreferrer noopener">improve its operations</a>.
The collaboration will use Google&#8217;s Gemini models on Vertex AI and integrate Google Workspace to boost employee efficiency.
The company has experienced positive results with tools such as Gmail, Google Docs, and Google Meet, where Gemini helps employees draft emails, edit documents, and design presentations.
The partnership seeks to optimize Wayfair&#8217;s product catalog as well. By incorporating generative AI, it is anticipated to generate cost reductions and boost operational efficiency.
&#8220;At Wayfair, we believe gen AI is the key to unlocking the next generation of retail experiences,&#8221; said&nbsp;Wayfair Chief Technology Officer Fiona Tan.
&#8220;With Google Cloud, we&#8217;ve been able to efficiently scale and enrich our product catalogs, enabling us to support a more seamless and engaging shopping experience for our customers.&#8221;
Also Read: <a target="_blank" href="https://www.benzinga.com/25/01/42908403/macys-shuts-down-66-locations-to-boost-profitability" rel="noreferrer noopener">Macy&#8217;s Shuts Down 66 Locations As Part Of New Chapter Strategy</a>
To enhance its catalog management, Wayfair has adopted Gemini on Google Cloud to automate the process of categorizing products. With more than 30 million items in its portfolio, the technology has reduced the time required for product updates by 67%.
Furthermore, AI has lowered costs by removing the need for manual tagging and improved listing quality by identifying issues such as incorrect product dimensions.
In November, Wayfair reported third-quarter adjusted earnings per share of 22 cents, beating the street view of 13 cents and sales of $2.884 billion (down 2%) topped the<a target="_blank" href="https://www.benzinga.com/news/earnings/24/11/41689161/wayfair-q3-results-earnings-beat-street-but-sales-and-customer-base-decline" rel="noreferrer noopener"> analyst estimate of $2.876 billion</a>.
As of September 30, active customers declined 2.7% to 21.7 million from the previous year, and orders decreased 6.1% to 9.3 million.
Also, last week, the retailer announced its exit from Germany due to challenges such as weak macroeconomic conditions, low brand awareness, and limited scale, <a target="_blank" href="https://www.benzinga.com/trading-ideas/movers/25/01/42918973/wayfair-waves-goodbye-to-germany-heres-why" rel="noreferrer noopener">affecting 730 employees</a>.
Price Action: W shares traded lower by 2.95% at $42.80 premarket at last check Monday.
Read Next:
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<li><a href="https://www.benzinga.com/news/earnings/25/01/42913319/beer-maker-constellation-brands-q3-sales-hit-by-subdued-spending-stock-slides" target="_blank" rel="noreferrer noopener">Beer Maker Constellation Brands&#8217; Q3 Sales Hit By Subdued Spending</a></li>
</ul>
Photo via Shutterstock.

Wayfair Expands Google Cloud Partnership To Tap AI For Cost Cuts And Efficiency

Needham analyst Serge Belanger maintains Pacira BioSciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCRX#NASDAQ">PCRX</a>) with a Buy and raises the price target from $22 to $30.

PCRX

Needham Maintains Buy on Pacira BioSciences, Raises Price Target to $30

Needham analyst David Saxon reiterates RxSight (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RXST#NASDAQ">RXST</a>) with a Buy and announces $66 price target.

RXST

Needham Reiterates Buy on RxSight, Announces $66 Price Target

Needham analyst Bernie McTernan upgrades Maplebear (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CART#NASDAQ">CART</a>) from Hold to Buy and announces $56 price target.

Upgrades

CART

Needham Upgrades Maplebear to Buy, Announces $56 Price Target

Needham analyst Serge Belanger maintains BioCryst Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BCRX#NASDAQ">BCRX</a>) with a Buy and raises the price target from $14 to $15.

BCRX

Needham Maintains Buy on BioCryst Pharma, Raises Price Target to $15

Nutex Health Inc. ("Nutex Health" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUTX#NASDAQ">NUTX</a>), a physician-led healthcare delivery system comprised of 24 state-of-the-art micro-hospitals in 11 states and primary care-centric, risk-bearing physician networks, announced the opening of Starkey Ranch ER &amp; Hospital on December 30, 2024, located at 2253 Heart Pine Ave. in&nbsp;Odessa, Florida.
The staff of medical experts at Starkey Ranch ER &amp; Hospital are bringing the community&nbsp;24/7/365 days of concierge-level care. The roughly 31,000 square foot state-of-the-art facility houses 8 Emergency Room beds, 8 inpatient beds, one operating room, in-house laboratory services, in-house pharmacy, and an imaging suite, including MRI, CT scan, X-ray, and Ultrasound.

NUTX

Nutex Health Opens Starkey Ranch ER & Hospital in Florida, Offering 24/7 Concierge-Level Care

Macro Economic Events

Econ #s

INDA

India Consumer Price Index (YoY) For December 5.22% Vs. 5.30% Est.; 5.48% Prior

Needham analyst Quinn Bolton maintains ON Semiconductor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) with a Buy and lowers the price target from $87 to $66.

Needham Maintains Buy on ON Semiconductor, Lowers Price Target to $66

PermRock Royalty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRT#NYSE">PRT</a>) (the "Trust") today announced that Boaz Energy II, LLC ("Boaz Energy"), the owner and operator of the oil and gas properties underlying the Trust (the "Underlying Properties"), informed the Trust that Boaz Energy and its affiliate, Boaz Energy II Royalty, LLC ("Boaz Royalty" and, together with Boaz Energy, the "Grantors"), entered into a Purchase and Sale Agreement on January 10, 2025 (the "Purchase and Sale Agreement") with T2S Permian Acquisition II LLC, a Delaware limited liability company (the "Buyer"), with respect to the Underlying Properties. The Underlying Properties are subject to the net profits interests (the "Net Profits Interest") conveyed to the Trust pursuant to that certain Conveyance of Net Profits Interest, dated May 4, 2018, by and among the Grantors, Simmons Bank (as trustee of the Trust, succeeded by Argent Trust Company) and Wilmington Trust, National Association&nbsp;(the "Conveyance").

Asset Sales

PermRock Royalty Trust Announces Sale Agreement of Underlying Oil and Gas Properties By Boaz Energy to T2S Permian Acquisition, Retaining Net Profits Interests

Needham analyst Serge Belanger maintains Arcutis Biotherapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARQT#NASDAQ">ARQT</a>) with a Buy and raises the price target from $18 to $20.

Needham Maintains Buy on Arcutis Biotherapeutics, Raises Price Target to $20

Needham analyst Quinn Bolton maintains Silicon Motion Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIMO#NASDAQ">SIMO</a>) with a Buy and lowers the price target from $75 to $70.

SIMO

Needham Maintains Buy on Silicon Motion Technology, Lowers Price Target to $70

The CNN Money Fear and Greed index showed further decline in overall market sentiment, while the index remained in the &#8220;Fear&#8221; zone on Friday.
U.S. stocks settled lower on Friday, with the Dow Jones index dipping around 700 points during the session following the release of jobs report.
Nonfarm payrolls rose by 256,000 last month, up from the downwardly revised 212,000 in November and sharply surpassing economist expectations of 160,000 payrolls as tracked by TradingEconomics. The unemployment rate fell from 4.2% to 4.1%, beating forecasts of an unchanged reading.
Average hourly earnings rose 0.3% month-over-month in December, matching expectations but slowing from November&#8217;s 0.4%. On a year-over-year basis, wages increased 3.9%, slightly below of the 4% forecast.
Delta Air Lines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) reported better-than-expected fourth-quarter results and issued 2025 guidance. Walgreens Boots Alliance Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>) reported better-than-expected first-quarter results.
Most sectors on the S&amp;P 500 closed on a negative note, with real estate, financial and information technology stocks recording the biggest losses on Friday. However, energy stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 697 points to 41,938.45 on Friday. The S&amp;P 500 fell 1.54% to 5,827.04, while the Nasdaq Composite fell 1.63% at 19,161.63 during Friday's session.
Investors are awaiting earnings results from Comtech Telecommunications Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMTL#NASDAQ">CMTL</a>), KB Home (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBH#NYSE">KBH</a>) and ServiceTitan, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTAN#NASDAQ">TTAN</a>) today.
At a current reading of 26.9, the index remained in the &#8220;Fear&#8221; zone on Friday, versus a prior reading of 30.4.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
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</ul>

Earnings

Long Ideas

CMTL

TTAN

Dow Tumbles Around 700 Points Following Jobs Data, Investor Sentiment Dips Further: Greed Index Remains In 'Fear' Zone

Needham analyst Quinn Bolton maintains Silicon Laboratories (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLAB#NASDAQ">SLAB</a>) with a Buy and raises the price target from $120 to $140.

SLAB

Needham Maintains Buy on Silicon Laboratories, Raises Price Target to $140

Needham analyst Gil Blum reiterates Mereo BioPharma Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MREO#NASDAQ">MREO</a>) with a Buy and maintains $7 price target.

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