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The Fund invests in financial instruments that ProShare Advisors believes, in combination, should produce daily returns consistent with the Daily Target. The Index is constructed and maintained by Nasdaq Inc. The Index is comprised of companies classified as cloud computing companies by the Consumer Technology Association. CTA classifies companies as cloud computing if the company is engaged in one or more activities.

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When it comes to sector exchange-traded funds, it&#39;s hard to find funds that are more revered — and better performing — than technology fare.

Double The Excitement: ProShares New Geared Cloud Computing, Cybersecurity ETFs

ProShares Ultra Cloud Computing

V.F. Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vfc#NYSE">VFC</a>) has provided investors with solid gains, appreciating 31.7% over the past three months. This performance outpaces the industry&#39;s decline of 3.5% and the S&amp;P 500&#39;s 4.4% growth. This gain is attributed to several factors, including its Reinvent transformation program, cost-reduction initiatives and strengthening balance sheet.
One of the most crucial aspects of V.F. Corp&#39;s recent progress is its focus on stabilizing gross margins. While the company continues to face near-term uncertainties, it is encouraged by sequential improvements in sales at Vans, one of VFC&#39;s key brands. Although overall sales have not yet returned to positive territory, the improvement is a promising sign.
Closing at $18.65, the stock trades close to its 52-week high mark of $20.69 touched in December 2023. Moreover, the stock&#39;s current level reflects a premium of 70% from its 52-week low.
The technical indicators show that the stock is trading above both its 50 and 200-day moving averages, indicating strong upward momentum and suggesting sustained investor confidence in the company&#39;s performance.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/ee/78684.jpg?v=1617158710" />
Image Source: Zacks Investment Research
<h2>What&#39;s Fueling V.F. Corp&#39;s Stock Rally?</h2>
V.F. Corp remains on track with its Reinvent transformation program, which focuses on brand-building and improving operational performance. The plan targets four key objectives: improving North American performance, turning around the Vans brand, reducing costs and strengthening the balance sheet.
As part of this plan, the company continues to streamline processes and invest in initiatives to drive brand demand and boost growth. In the first quarter of fiscal 2025, V.F. Corp generated $50 million in cost savings through the Reinvent program. This large-scale cost-reduction program is expected to deliver $300 million in fixed cost savings by reducing expenditure in non-strategic areas, and simplifying and right-sizing its structure in the first half of fiscal 2025.
The company&#39;s strategic approach to selling the Supreme brand marks a significant shift, aims to refocus on its core business and improve operational efficiency. The company acknowledges that Supreme lacked synergy with its broader portfolio, leading to its divestiture. This move will help V.F. streamline its operations and enhance financial flexibility by reducing leverage.
<h2>VFC Stock&#39; Promising Outlook</h2>
V.F. Corp is set to benefit from its growth plan for fiscal 2023-2027. It expects revenues to witness a mid-to-high single-digit CAGR and earnings to record a high single to low double-digit CAGR. The company projects an operating margin of 15% by fiscal 2027, supported by gross margin expansion and lower SG&amp;A expenses.
A key component of V.F. Corp&#39;s recovery strategy is the revitalization of the Vans brand, which has encountered challenges in recent years. Analysts are optimistic, forecasting that the company will start to see gradual improvements in its fundamentals in the next four to six quarters.
While it is too early to declare a complete turnaround, we believe 2025 could mark a turning point for the brand, which is critical to the company&#39;s broader recovery efforts.
<h2>Near-Term Concerns for VFC Stock</h2>
V.F. Corp&#39;s first-quarter fiscal 2025 results were affected by a tough operating environment, and dismal performance across regions, channels and brands. This led to a decline in sales 9% year over year and 8% in constant currency. The decline was the result of soft performance across regions and channels, despite sequential improvement.
V.F. Corp is facing challenges with its well-known brands, The North Face and Vans. Both brands, once reliable revenue drivers, are experiencing declining sales and struggling to connect with their core customer bases. For The North Face, the issues arise from shifting consumer preferences and heightened competition in the outdoor apparel market. The brand has found it difficult to maintain its premium positioning while trying to appeal to a broader audience.
Vans, meanwhile, is dealing with a saturated sneaker market and a decline in its appeal among younger customers. However, a recovery strategy is in place, and there are expectations for improvement in the near term.
<h2>Three Picks You Can&#39;t Miss</h2>
VFC currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Consumer Discretionary space are Wolverine World Wide, GIII Apparel Group and Steven Madden, Ltd.
Wolverine World Wide designs, manufactures and distributes a wide variety of casual and active apparel and footwear. The company sports a Zacks Rank #1 (Strong Buy) at present.
The Zacks Consensus Estimate for WWW&#39;s current financial-year sales indicates a decline of almost 23% from the year-ago reported figures. The consensus mark for EPS reflects significant growth to 85 cents from 5 cents reported in the prior year. WWW has a trailing four-quarter earnings surprise of 7.5%, on average.
G-III Apparel is a manufacturer, designer and distributor of apparel and accessories under licensed brands, owned brands and private label brands. It carries a Zacks Rank #1 at present.
GIII Apparel has a trailing four-quarter earnings surprise of 118.2%, on average. The Zacks Consensus Estimate for GIII Apparel&#39;s current financial-year sales indicates growth of 3.3% from the year-ago figure.
Steven Madden designs, sources, markets and sells fashion-forward name-brand and private-label footwear. It currently has a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for Steven Madden&#39;s 2024 earnings and sales indicates growth of 6.9% and 12.6%, respectively, from the year-ago actuals. SHOO has a trailing four-quarter average earnings surprise of 9.5%.
<a href="https://www.zacks.com/stock/news/2339428/v-f-corp-stock-gains-30-in-3-months-what-s-next-for-investors?cid=CS-BENZ-FT-analyst_blog|rank_focused-2339428">To read this article on Zacks.com click here.</a>

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V.F. Corp Stock Gains 30% in 3 Months: What's Next for Investors?

Whales with a lot of money to spend have taken a noticeably bearish stance on MercadoLibre.
Looking at options history for MercadoLibre (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MELI#NASDAQ">MELI</a>) we detected 13 trades.
If we consider the specifics of each trade, it is accurate to state that 23% of the investors opened trades with bullish expectations and 30% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $114,566 and 10, calls, for a total amount of $527,475.
<h3>What's The Price Target?</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $1400.0 to $2160.0 for MercadoLibre during the past quarter. 
<h3>Insights into Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for MercadoLibre options trades today is 28.5 with a total volume of 12.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for MercadoLibre's big money trades within a strike price range of $1400.0 to $2160.0 over the last 30 days.
<h3>MercadoLibre 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726860808_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>MELI</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>09/20/24</td>
<td>$583.7</td>
<td>$568.9</td>
<td>$576.68</td>
<td>$1530.00</td>
<td>$115.3K</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">2</td>
</tr>
<tr>
<td>MELI</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>10/18/24</td>
<td>$610.8</td>
<td>$602.6</td>
<td>$607.0</td>
<td>$1500.00</td>
<td>$60.7K</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>MELI</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>10/18/24</td>
<td>$609.2</td>
<td>$601.3</td>
<td>$604.83</td>
<td>$1500.00</td>
<td>$60.4K</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
</tr>
<tr>
<td>MELI</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$608.3</td>
<td>$602.0</td>
<td>$602.0</td>
<td>$1500.00</td>
<td>$60.2K</td>
<td style="text-align: right;">36</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>MELI</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>09/20/24</td>
<td>$608.7</td>
<td>$595.3</td>
<td>$600.96</td>
<td>$1500.00</td>
<td>$60.0K</td>
<td style="text-align: right;">36</td>
<td style="text-align: right;">2</td>
</tr>
</tbody>
</table>

<h3>About MercadoLibre</h3>
MercadoLibre runs the largest e-commerce marketplace in Latin America, with more than 218 million active users and 1 million active sellers across 18 countries stitching into its commerce network or fintech solutions as of the end of 2023. The company operates a host of complementary businesses to its core online shop, with shipping solutions (Mercado Envios), a payment and financing operation (Mercado Pago and Mercado Credito), advertisements (Mercado Clics), classifieds, and a turnkey e-commerce solution (Mercado Shops) rounding out its arsenal. MercadoLibre generates revenue from final value fees, advertising royalties, payment processing, insertion fees, subscription fees, and interest income from consumer and small-business lending.
Following our analysis of the options activities associated with MercadoLibre, we pivot to a closer look at the company's own performance.
<h3>MercadoLibre's Current Market Status</h3>
<ul>
<li>Trading volume stands at 155,798, with MELI's price up by 0.17%, positioned at $2112.97.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 40 days.</li>
</ul>
<h3>Expert Opinions on MercadoLibre</h3>
4 market experts have recently issued ratings for this stock, with a consensus target price of $2470.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Susquehanna persists with their Positive rating on MercadoLibre, maintaining a target price of $2350. 
&#x2A; An analyst from Morgan Stanley has decided to maintain their Overweight rating on MercadoLibre, which currently sits at a price target of $2500. 
&#x2A; Maintaining their stance, an analyst from B of A Securities continues to hold a Buy rating for MercadoLibre, targeting a price of $2500. 
&#x2A; In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $2530. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest MercadoLibre options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

MELI

This Is What Whales Are Betting On MercadoLibre

Financial giants have made a conspicuous bullish move on Qualcomm. Our analysis of options history for Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) revealed 12 unusual trades.
Delving into the details, we found 58% of traders were bullish, while 41% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $194,169, and 8 were calls, valued at $548,085.
<h3>Predicted Price Range</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $140.0 to $200.0 for Qualcomm during the past quarter. 
<h3>Insights into Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for Qualcomm options trades today is 847.9 with a total volume of 304.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Qualcomm's big money trades within a strike price range of $140.0 to $200.0 over the last 30 days.
<h3>Qualcomm 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726860803_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>QCOM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$30.45</td>
<td>$30.05</td>
<td>$30.45</td>
<td>$140.00</td>
<td>$274.0K</td>
<td style="text-align: right;">259</td>
<td style="text-align: right;">17</td>
</tr>
<tr>
<td>QCOM</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$13.25</td>
<td>$13.15</td>
<td>$13.25</td>
<td>$175.00</td>
<td>$66.2K</td>
<td style="text-align: right;">732</td>
<td style="text-align: right;">60</td>
</tr>
<tr>
<td>QCOM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$18.5</td>
<td>$18.2</td>
<td>$18.38</td>
<td>$160.00</td>
<td>$64.3K</td>
<td style="text-align: right;">381</td>
<td style="text-align: right;">46</td>
</tr>
<tr>
<td>QCOM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$31.8</td>
<td>$31.05</td>
<td>$31.8</td>
<td>$200.00</td>
<td>$63.6K</td>
<td style="text-align: right;">124</td>
<td style="text-align: right;">20</td>
</tr>
<tr>
<td>QCOM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$27.6</td>
<td>$26.65</td>
<td>$27.55</td>
<td>$180.00</td>
<td>$55.1K</td>
<td style="text-align: right;">901</td>
<td style="text-align: right;">31</td>
</tr>
</tbody>
</table>

<h3>About Qualcomm</h3>
Qualcomm develops and licenses wireless technology and designs chips for smartphones. The company's key patents revolve around CDMA and OFDMA technologies, which are standards in wireless communications that are the backbone of all 3G, 4G, and 5G networks. Qualcomm's IP is licensed by virtually all wireless device makers. The firm is also the world's largest wireless chip vendor, supplying nearly every premier handset maker with leading-edge processors. Qualcomm also sells RF-front end modules into smartphones, as well as chips into automotive and Internet of Things markets.
After a thorough review of the options trading surrounding Qualcomm, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Where Is Qualcomm Standing Right Now?</h3>
<ul>
<li>Trading volume stands at 5,937,818, with QCOM's price down by -0.71%, positioned at $172.69.</li>
<li>RSI indicators show the stock to be is currently neutral between overbought and oversold.</li>
<li>Earnings announcement expected in 40 days.</li>
</ul>
<h3>Professional Analyst Ratings for Qualcomm</h3>
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $210.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Qualcomm, targeting a price of $210. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Qualcomm options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

QCOM

This Is What Whales Are Betting On Qualcomm

Financial giants have made a conspicuous bullish move on First Solar. Our analysis of options history for First Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) revealed 14 unusual trades.
Delving into the details, we found 42% of traders were bullish, while 42% showed bearish tendencies. Out of all the trades we spotted, 9 were puts, with a value of $1,215,907, and 5 were calls, valued at $167,234.
<h3>Projected Price Targets</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $190.0 to $270.0 for First Solar over the last 3 months. 
<h3>Insights into Volume &amp; Open Interest</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for First Solar's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of First Solar's whale activity within a strike price range from $190.0 to $270.0 in the last 30 days. 
<h3>First Solar 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726860797_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>FSLR</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$23.3</td>
<td>$22.8</td>
<td>$22.8</td>
<td>$230.00</td>
<td>$228.0K</td>
<td style="text-align: right;">227</td>
<td style="text-align: right;">556</td>
</tr>
<tr>
<td>FSLR</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$23.2</td>
<td>$22.45</td>
<td>$22.45</td>
<td>$230.00</td>
<td>$224.5K</td>
<td style="text-align: right;">227</td>
<td style="text-align: right;">101</td>
</tr>
<tr>
<td>FSLR</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$22.65</td>
<td>$21.4</td>
<td>$22.6</td>
<td>$230.00</td>
<td>$212.4K</td>
<td style="text-align: right;">227</td>
<td style="text-align: right;">207</td>
</tr>
<tr>
<td>FSLR</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$23.0</td>
<td>$22.8</td>
<td>$22.8</td>
<td>$230.00</td>
<td>$200.6K</td>
<td style="text-align: right;">227</td>
<td style="text-align: right;">268</td>
</tr>
<tr>
<td>FSLR</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$22.75</td>
<td>$22.6</td>
<td>$22.6</td>
<td>$230.00</td>
<td>$113.0K</td>
<td style="text-align: right;">227</td>
<td style="text-align: right;">216</td>
</tr>
</tbody>
</table>

<h3>About First Solar</h3>
First Solar designs and manufactures solar photovoltaic panels, modules, and systems for use in utility-scale development projects. The company's solar modules use cadmium telluride to convert sunlight into electricity. This is commonly called thin-film technology. First Solar is the world's largest thin-film solar module manufacturer. It has production lines in Vietnam, Malaysia, the United States, and India.
After a thorough review of the options trading surrounding First Solar, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Current Position of First Solar</h3>
<ul>
<li>Currently trading with a volume of 943,307, the FSLR's price is down by -1.93%, now at $235.8. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 39 days.</li>
</ul>
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for First Solar, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

FSLR

Smart Money Is Betting Big In FSLR Options

Many plan to work well into their 60s or even 70s, thinking they can compensate for years of undersaving. But according to recent surveys, retirement may come earlier than expected for many Americans – whether they're <a href="https://www.benzinga.com/personal-finance/24/05/38761475/retire-early-or-retire-rich-man-asks-whether-its-better-to-retire-at-40-with-125-000-a-year-or-a">ready for it or not.</a>
The average retirement age in the U.S. is about 62 years old, even though most workers expect to retire around 67. In fact, more than 56% of retirees left the workforce earlier than they planned, according to a Transamerica survey. So, what's causing this <a href="https://www.benzinga.com/personal-finance/24/09/40800774/gen-xs-looming-retirement-crisis-is-worse-than-they-realize-expert-compares-it-to-being-handed-a">gap between expectations and reality</a>?
Don' Miss:
<ul>
<li>The number of ‘401(k)' Millionaires is up 43% from last year —<a href="https://www.benzinga.com/money/401k-millionaires"> Here are three ways to join the club.</a></li>
<li>Can you guess how many retire with a $5,000,000 nest egg? &#8211;<a href="https://www.benzinga.com/money/retire-5mil-nest-egg"> How does it compare to the average?</a></li>
</ul>
Health is a big factor. Roughly 38% of early retirees say they had to stop working because of health issues or disabilities. This isn't always part of the plan, but sudden medical conditions or ongoing health problems can change things quickly. This is a reality many don't account for when imagining working into their late 60s or 70s.
Then there's the job market itself. Fourteen percent of those who retired early did so after being laid off; for many, finding another job isn't appealing or feasible. 
Trending: <a href="https://www.benzinga.com/money/charlie-munger-100k">Charlie Munger said if you want to be rich, &#8220;find a way to get your hands on $100,000&#8221; — here&#8217;s what he means.</a>
Companies downsize, industries change and job security becomes less certain as people age, making retirement sometimes <a href="https://www.benzinga.com/personal-finance/24/07/39892121/top-economist-debunks-myth-you-need-1-46-million-to-retire-argues-you-can-retire-comfortably-wit">less of a choice and more of a necessity</a>.
In addition to these reasons, life events – like family changes or unexpected financial shifts – can also force people to reconsider their plans. Some may find they've saved enough to retire early, but for most, it's often a mix of circumstance and necessity that leads them there.
Trending: Founder of Personal Capital and ex-CEO of PayPal<a href="https://www.benzinga.com/money/evergreen-money"> re-engineers traditional banking with this new high-yield account — start saving better today.</a>
Financially, retiring earlier than planned can be a challenge. Many people end up dipping into their savings sooner than expected, which stretches their retirement funds thinner over a longer period. According to various reports, the average American retiree has around $269,078 saved for retirement, far below what's typically recommended. Financial planners suggest a target of around $572,000 and that gap can mean tough choices down the road.
Additionally, if people claim Social Security benefits before they hit their full retirement age – 67 for many – they'll see a permanent reduction in monthly benefits. Plus, if they retire before Medicare eligibility kicks in at 65, they may <a href="https://www.benzinga.com/personal-finance/24/08/40624190/aon-predicts-9-increase-in-employer-health-care-costs-for-2025-heres-whats-fueling-the-spike">face higher health care costs</a> or gaps in coverage.
Trending: Elon Musk and Jeff Bezos are bullish on one city that could dethrone New York and become the new financial capital of the US.<a href="https://www.benzinga.com/money/miami-take-new-yorks-place-financial-capital"> Investing in its booming real estate market has never been more accessible.</a>
So, what does this all mean? Planning to work longer might not be the foolproof strategy some hope it will be. Between health issues, layoffs and other unexpected life events, early retirement happens to more people than you might think. And without enough savings, the <a href="https://www.benzinga.com/personal-finance/24/07/39866450/the-average-retiree-spends-over-52-000-a-year-and-75-of-that-goes-to-just-five-expenses-how-does">financial picture</a> can get complicated fast.&nbsp;
While everyone's situation is different, having a backup plan and saving more now might be the safest bet for those who want more control when they retire. It's always smart to reassess your retirement plan and <a href="https://www.benzinga.com/money/can-you-guess-how-many-americans-successfully-retire-with-1-million-saved">consulting with a financial advisor</a> can give you a clearer picture of where you stand. They can help you adjust your savings strategy, review your investment options and ensure you're prepared for any surprises that could force early retirement. 
Read Next:
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<li>A billion-dollar investment strategy with minimums as low as $10 —<a href="https://www.benzinga.com/money/fundrise-flagship-fund"> you can become part of the next big real estate boom today.</a></li>
<li>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/red-ventures"> The percentage may shock you</a>.</li>
</ul>

Personal Finance

Most People Expect To Retire at 67, But 56% Retire Sooner – Can You Guess the Actual Average Retirement Age?

W.W. Grainger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWW#NYSE">GWW</a>) has outperformed the market over the past 5 years by 15.22% on an annualized basis producing an average annual return of 29.13%. Currently, W.W. Grainger has a market capitalization of $50.23 billion. 
Buying $1000 In GWW: If an investor had bought $1000 of GWW stock 5 years ago, it would be worth $3,534.58 today based on a price of $1028.81 for GWW at the time of writing.
<h3>W.W. Grainger's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726860639_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $1000 Invested In W.W. Grainger 5 Years Ago Would Be Worth Today

Centene (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNC#NYSE">CNC</a>) has outperformed the market over the past 20 years by 5.58% on an annualized basis producing an average annual return of 14.06%. Currently, Centene has a market capitalization of $39.78 billion. 
Buying $100 In CNC: If an investor had bought $100 of CNC stock 20 years ago, it would be worth $1,562.27 today based on a price of $75.63 for CNC at the time of writing.
<h3>Centene's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726860634_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In This Stock 20 Years Ago Would Be Worth $1,600 Today

Lennar Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/len#NYSE">LEN</a>) reported third-quarter fiscal 2024 results, wherein its earnings and revenues surpassed the Zacks Consensus Estimate.
On a year-over-year basis, revenues increased, given the company&#39;s emphasis on maintaining a steady production rate to drive sales momentum. Lennar strategically utilized pricing, incentives, marketing expenditure and dynamic pricing insights to ensure steady sales volume despite fluctuations in interest rates.
However, earnings fell by a cent from the year-ago period. LEN&#39;s stock plunged 2.4% in the after-hours trading session on Sept. 19. Investors&#39; sentiments might have been hurt by lower earnings and gross margin in the fiscal third quarter, as well as tepid fiscal fourth-quarter guidance.
<h2>Quarterly Numbers</h2>
LEN reported adjusted earnings per share (excluding mark-to-market gains on technology investments and one-time items in its Multifamily segment) of $3.90, which topped the Zacks Consensus Estimate of $3.62 by 7.7%. The metric, however, slipped 0.3% year over year from $3.91 per share.
<div class="chart_embed">
<h3>Lennar Corporation Price, Consensus and EPS Surprise</h3>
<img alt="Lennar Corporation Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/fa/1726841318.png" style="height:265px; width:589px" title="" />
Lennar Corporation price-consensus-eps-surprise-chart | Lennar Corporation Quote
Revenues of $9.42 billion topped the Zacks Consensus Estimate of $9.29 billion by 1.4% and rose 7.9% year over year from $8.73 billion.
</div>
<h2>Segment Details</h2>
Homebuilding: Revenues of the segment totaled $9.05 billion, up 8.7% from the prior-year quarter. Under the Homebuilding umbrella, home sales contributed $9.02 billion to total revenues, up 8.8% from a year ago.
Land sales accounted for $19.5 million, down from $20.4 million in the prior-year quarter. The Other homebuilding unit contributed $8.6 million to homebuilding revenues, down from $12.3 million a year ago.
Home deliveries for the reported quarter improved 16% from the year-ago level to 21,516 units. The reported figure was better than our projection of 20,598 units for the quarter. The average sales price&nbsp;of homes delivered was $422,000, down 5.8% from the year-ago figure due to pricing to market through an increased use of incentives and product mix. Our model had predicted ASP to be $432,910 for the fiscal third quarter.
New orders rose 5% from the year-ago quarter to 20,587 homes. However, the potential value of net orders fell 0.9% year over year to $8.56 billion.
Backlog at the fiscal third-quarter end declined 20.5% from the year-ago quarter to 16,944 homes. Potential housing revenues from backlog decreased 21.4% year over year to $7.75 billion.
The gross margin on home sales was 22.5% for the quarter, down 190 basis points (bps). Notably, the reported figure came below our projection of 23% for the quarter. The decline was mainly due to decreased revenues per square foot and increased land costs year over year.
SG&amp;A expenses &mdash; as a percentage of home sales &mdash; decreased 30 bps to 6.7% due to a decrease in broker commissions and benefits of LEN&#39;s technology efforts.
Financial Services: The segment&#39;s revenues increased year over year to $273.3 million from $266.2 million for the reported quarter. Operating earnings for the quarter increased to $144.4 million from $149 million a year ago.
Lennar Multi-Family: Revenues of $93.4 million in the segment were down from $137.4 million in the prior-year quarter. The segment registered operating earnings of $78.9 million for the quarter against a loss of $8.7 million a year ago.
Lennar Other: The segment&#39;s revenues totaled $3.6 million, significantly down from $7.4 million a year ago. Its operating earnings were $20.1 million for the quarter against a loss of $26.2 million a year ago.
<h2>Financials</h2>
At the fiscal third-quarter end, Lennar had homebuilding cash and cash equivalents of $4.04 billion, down from $6.27 billion at the end of fiscal 2023. LEN has no outstanding borrowings under the $2.2 billion revolving credit facility, thereby providing $6.2 billion of liquidity.
The total homebuilding debt was $2.26 billion as of the fiscal third-quarter end, down from $2.82 billion at the fiscal 2023-end. Homebuilding debt to capital at the fiscal third-quarter end was 7.6%, down from 9.6% at the fiscal 2023-end.
LEN repurchased 3.4 million shares for $519 million in the fiscal third quarter.
<h2>Guidance</h2>
For fourth-quarter fiscal 2024, the company expects deliveries within 22,500-23,000 homes, depicting a fall from 23,795 homes delivered in the year-ago period. The company expects the ASP of the delivered units to be nearly $425,000, down from an ASP of $441,000 reported a year ago.
The gross margin on home sales is expected to be flat year over year. SG&amp;A expenses, as a percentage of home sales, are likely to be in the range of 6.7-6.8% for the quarter. In the prior year, gross margin was 24.2%, and SG&amp;A was 6.6%.
New orders are likely to be within 19,000-19,300 units, up from 17,366 homes reported a year ago.
Financial Services operating earnings are expected to be around $140 million, down from $168 million a year ago.
<h2>LEN&#39;s Zacks Rank &amp; Stocks to Consider</h2>
Lennar currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the same space are M/I Homes, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mho#NYSE">MHO</a>), Meritage Homes Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mth#NYSE">MTH</a>)&nbsp;and PulteGroup, Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/phm#NYSE">PHM</a>). Each stock presently carries a Zacks Rank #2 (Buy).
M/I Homes is a Columbus, OH-based homebuilder that engages in the construction and sale of single-family residential homes.
MHO&#39;s EPS estimates for 2024 have increased to $19.76 from $19.58 over the past 30 days. The company&#39;s earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed on one occasion, the average being 4.8%. MHO&#39;s earnings are expected to rise 21.9% year over year in 2024.
Meritage Homes is a Scottsdale, AZ-based company that designs and builds single-family attached and detached homes.
MTH&#39;s EPS estimates for 2024 have increased to $21.09 from $20.33 over the past 60 days. The company&#39;s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average being 21.5%. MTH&#39;s earnings are expected to rise 5.8% year over year in 2024.
PulteGroup is an Atlanta, GA-based homebuilder engaged in homebuilding and financial services businesses.
PHM&#39;s EPS estimates for 2024 have increased to $13.36 from $12.85 over the past 60 days. The company&#39;s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average being 10%. PHM&#39;s earnings are expected to rise 14% year over year in 2024.
<a href="https://www.zacks.com/stock/news/2339343/lennar-q3-earnings-revenues-beat-stock-down-on-tepid-q4-view?cid=CS-BENZ-FT-analyst_blog|earnings_article-2339343">To read this article on Zacks.com click here.</a>

Earnings Beats

Guidance

Lennar Q3 Earnings & Revenues Beat, Stock Down on Tepid Q4 View

Onconetix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONCO#NASDAQ">ONCO</a>) shares are trading lower by 29.9% to 8 cents Friday after the company announced a <a href="https://www.benzinga.com/pressreleases/24/09/g40961281/onconetix-inc-announces-1-for-40-reverse-stock-split-and-results-of-the-annual-meeting-of-stockhol">1-for-40 reverse stock split</a>. The company announced that its stockholders approved all proposals at the 2024 annual meeting held on September 5.
What Happened: These approvals included the election of Timothy Ramdeen and Ajit Singh as directors for a three-year term, amendments to the company's 2022 Equity Incentive Plan to increase the number of shares issuable, and authorization for a reverse stock split at a ratio ranging from 1-for-30 to 1-for-60. 
The board chose a 1-for-40 ratio, effective September 24, to help the company meet Nasdaq's minimum bid price requirement.
What Else: Other approved measures included the issuance of shares related to the conversion of Series A and Series B Preferred Stock, a private placement, and the assumption of stock options from Proteomedix AG. Stockholders also ratified EisnerAmper LLP as the company's independent auditor for 2024.
The reverse stock split will reduce Onconetix&#8217;s outstanding shares from around 30.2 million to approximately 755,000.
Read Also: <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/09/40960886/palantir-dell-to-join-s-p-500-friday-heres-how-tesla-stock-has-performed-since-its-add">Palantir, Dell To Join S&amp;P 500 Friday: Here&#8217;s How Tesla Stock Has Performed Since Its Addition In 2020</a>
<h2 class="wp-block-heading">Is ONCO A Good Stock To Buy?</h2>
An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages &#8211; like <a href="https://www.benzinga.com/quote/ONCO">Onconetix</a>&#8216;s page for example &#8211; there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.
These are known as capital allocation programs. Onconetix does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's <a href="https://www.benzinga.com/calendars/dividends">dividend calendar</a> for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.
For example, if you're looking to earn an annualized return of 8.33%, you'll need to buy a share of AMEN Properties by the Sep. 30, 2024. Once done, you can expect to receive a nominal payout of $10.0 on Oct. 7, 2024.
Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on <a href="https://www.benzinga.com/quote/ONCO">Onconetix</a> will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, ONCO has a 52-week high of $0.54 and a 52-week low of $0.08.

ONCO

Why Onconetix (ONCO) Shares Are Down 27%

INTC

Wall Street Journal Reported Qualcomm Approached Intel About A Takeover

On Friday, the Federal Trade Commission (FTC) filed a formal complaint against three major pharmacy benefit managers (PBMs)—CVS Health Inc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) Caremark, Cigna Corp&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>) Express Scripts, and UnitedHealth Group Inc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) Optum—for allegedly engaging in unfair and anti-competitive practices that have inflated the list <a target="_blank" href="https://www.benzinga.com/government/24/07/39695378/ftc-investigation-uncovers-anti-competitive-practices-by-handful-of-pharmacy-benefit-managers-includ" rel="noreferrer noopener">price of insulin medications</a>.
The <a target="_blank" href="https://www.ftc.gov/news-events/news/press-releases/2024/09/ftc-sues-prescription-drug-middlemen-artificially-inflating-insulin-drug-prices" rel="noreferrer noopener">complaint</a> accuses the PBMs of creating a system that benefits them financially by prioritizing drug rebates, forcing patients to pay higher costs for life-saving insulin. These PBMs, referred to as the Big Three, administer around 80% of prescriptions in the U.S.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/05/38564498/federal-trade-commission-targets-junk-patent-listings-for-diabetes-weight-loss-asthma-drugs-from-" rel="noreferrer noopener">Federal Trade Commission Targets &#8216;Junk Patent Listings&#8217; For Diabetes, Weight Loss, Asthma Drugs From Companies Like Novo Nordisk, AstraZeneca</a>.
The FTC claims that the PBMs abused their market power to inflate insulin prices by promoting a rebate system with drug manufacturers.
This system led to the exclusion of lower-priced insulin from formularies, further driving up the cost for vulnerable patients.
The result is higher out-of-pocket expenses for those needing essential diabetes medication.
For example, the list price of Eli Lilly And Co&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) Humalog rose dramatically from $21 in 1999 to over $274 in 2017.
Despite the availability of lower-priced alternatives, PBMs favored higher-priced drugs due to the lucrative rebates they provided.
The FTC is also examining the role of drug manufacturers, including Eli Lilly, Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>), and Sanofi SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>), in driving up insulin prices, signaling potential further action against these companies.
The rebate-driven system excluded lower-priced insulins and allowed the Big Three PBMs to keep significant revenue in the form of rebates and fees, a strategy that hurt patients while benefiting the PBMs financially.
Vulnerable patients, such as those with high deductibles or coinsurance, bore the brunt of these inflated costs, paying more for their insulin than the overall net cost to insurers.
Price Action: At last check Friday, CVS stock was down 1.61% at $57.49, UNH stock was down 0.29% at $575.39, and CI stock was up 0.07% at $357.52.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/09/40961594/mullen-automotive-gears-up-210m-ev-deal-in-dubai-delivers-first-units-to-volt-mobility" target="_blank" rel="noreferrer noopener">Mullen Automotive Gears Up $210M EV Deal In Dubai – Delivers First Units To Volt Mobility</a>.</li>
</ul>
Photo by towfiqu barbhuiya via unsplash

Large Cap

Health Care

Legal

General

US Federal Trade Commission Sues CVS Health, Cigna, UnitedHealth's Pharmacy Benefit Managers For Inflating Insulin Prices

Vanda Pharmaceuticals Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vnda#NASDAQ">VNDA</a>) announced that the FDA issued a complete response letter&nbsp;to its new drug application (NDA) seeking approval for its pipeline candidate, tradipitant for the treatment of symptoms in gastroparesis.
Shares of the company were down 6.1% on Sept. 19 following the announcement of the news.
Marked by delayed gastric emptying, gastroparesis is a serious condition that slows down the stomach&#39;s ability to empty its contents. The FDA has not approved any effective medicine for treating gastroparesis in more than 40 years.
Year to date, shares of Vanda have increased 10.2% compared with the industry&#39;s rise of 0.4%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/4a/78570.jpg?v=840412258" />
Image Source: Zacks Investment Research
<h2>More on FDA&#39;s CRL for VNDA&#39;s Tradipitant</h2>
Per the CRL, the FDA called for Vanda to conduct additional studies on tradipitant with a design that was inconsistent with the advice of key experts in the field and not appropriate based on the scientific understanding of the disease.
Also, per management, the FDA delayed its decision by more than 185 days and failed to meet the requirements specified by the Food Drug and Cosmetic Act (FDCA).
Notably, the FDCA requires that the FDA review an NDA and provide either an approval or a possible hearing within 180 days of the filing. The FDA failed to do either.
Per the company, it had time and again asked the FDA to hold an advisory committee meeting to discuss the NDA for tradipitant while the regulatory body declined.
Several patients treated with tradipitant have now filed a Citizen Petition pleading with the regulatory body to approve tradipitant for the treatment of gastroparesis.
<h2>VNDA&#39;s Development Plans for Tradipitant</h2>
Despite the FDA declining to approve tradipitant for treating symptoms in gastroparesis, the company will continue to pursue the marketing approval for tradipitant in the given indication.
Apart from gastroparesis, VNDA is also developing tradipitant for preventing vomiting induced by motion sickness.
In May 2024, the company announced positive data from a second phase III study that investigated tradipitant for preventing vomiting induced by motion sickness.
Vanda plans to submit an NDA for tradipitant to the FDA for the treatment of motion sickness later in 2024.
<h2>Zacks Rank &amp; Stocks to Consider</h2>
Vanda currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the biotech sector are Illumina, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ilmn#NASDAQ">ILMN</a>), Krystal Biotech, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/krys#NASDAQ">KRYS</a>) and Fulcrum Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fulc#NASDAQ">FULC</a>), each sporting a Zacks Rank #1 (Strong Buy) at present.
In the past 60 days, estimates for Illumina&#39;s 2024 earnings per share have moved up from $1.84 to $3.63. Earnings per share estimates for 2025 have improved from $3.22 to $4.43. Year to date, shares of ILMN have lost 3.5%.
ILMN&#39;s earnings beat estimates in each of the trailing four quarters, with the average surprise being 463.46%.
In the past 60 days, estimates for Krystal Biotech&#39;s 2024 earnings per share have increased from $2.09 to $2.38. Earnings per share estimates for 2025 have improved from $4.33 to $7.31. Year to date, shares of KRYS have risen 48.7%.
KRYS&#39; earnings beat estimates in three of the trailing four quarters while missing on the remaining occasion, with the average surprise being 45.95%.
In the past 60 days, estimates for Fulcrum Therapeutics&#39; 2024 loss per share have narrowed from $1.33 to 28 cents. Loss per share estimates for 2025 have narrowed from $1.71 to $1.14. Year to date, shares of FULC have plunged 48.9%.
FULC&#39;s earnings beat estimates in each of the trailing four quarters, with the average surprise being 393.18%.
<a href="https://www.zacks.com/stock/news/2339326/vnda-stock-down-as-fda-rejects-nda-for-tradipitant-in-gastroparesis?cid=CS-BENZ-FT-analyst_blog|company_news_medical_sector-2339326">To read this article on Zacks.com click here.</a>

Biotech

Penny Stocks

Management

FULC

ILMN

KRYS

VNDA

VNDA Stock Down as FDA Rejects NDA for Tradipitant in Gastroparesis

Sable Offshore Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOC#NYSE">SOC</a>) shares are trading lower by 21.3%% to $22.26 Friday afternoon after the company announced a $150 million private placement of <a href="https://www.benzinga.com/pressreleases/24/09/b40954952/sable-offshore-corp-announces-150-million-private-placement-of-shares-and-update-on-warrant-exerci">7.50 million shares</a>.
The private placement is set to close on September 23, pending standard conditions. The funds will be used for capital expenditures, working capital, and general corporate purposes.
Additionally, as of September 18, 2024, Sable has raised $64.8 million from the exercise of warrants, issuing 5.6 million shares. These funds will also be used for similar corporate purposes. 
TD Cowen, Jefferies and Intrepid Partners are handling the placement.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/09/40962983/wall-street-falls-on-triple-witching-day-feds-waller-pushes-gold-to-fresh-record-highs-fedex-plu">Wall Street Falls On Triple Witching Day, Fed&#8217;s Waller Pushes Gold To Fresh Record Highs, FedEx Plummets: What&#8217;s Driving Markets Friday?</a>
<h2 class="wp-block-heading">How To Buy SOC Stock</h2>
Besides going to a brokerage platform to purchase a share &#8211; or fractional share &#8211; of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument. 
For example, in Sable Offshore&#8217;s case, it is in the Energy sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, SOC has a 52-week high of $28.67 and a 52-week low of $10.11.

Why Sable Offshore (SOC) Stock Is Getting Hammered

A win by former President Donald Trump in the<a href="https://www.benzinga.com/topic/2024-election"> 2024 presidential election </a>could raise concerns about conflicts of interest related to his ownership of a media company.
What Happened: Trump i<a href="https://www.benzinga.com/news/24/09/40939390/trump-media-technology-group-stock-slides-as-lockup-expiration-looms-whats-going-on">s the co-founder</a> of Trump Media &amp; Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>), a media company that owns the Truth Social platform and other media assets.
While investors are worried that Trump<a href="https://www.benzinga.com/general/social-media/24/09/40860859/trump-media-technology-shares-surge-former-president-says-hes-not-selling-or-leaving-truth-s"> might sell his shares</a> after a lockup expiration, ethics watchdogs are concerned about who could be buying the shares ahead of the 2024 election or if Trump returns to the White House.
According to a report from Politico, purchasers of the stock could include foreign actors or people seeking corporate interests.
"It's a huge potential conflict of interest," Project on Government Oversight Director of Government Affairs Dylan Hedtler-Gaudette said, as <a href="https://www.politico.com/news/2024/09/19/trump-social-media-stake-ethics-00180038">reported</a> by Politico.
Hedtler-Gaudette said ethics concerns over businesses connected to Trump are not new, but having a public company and being president could amplify the concerns.
Trump's media company has set up rules that he<a href="https://www.benzinga.com/m-a/23/08/33878846/trump-to-maintain-control-of-media-company-if-he-sells-majority-goes-to-jail-or-becomes-president"> will still maintain control</a> of the company if he goes to prison or becomes president. Trump will also keep control if he sells his stock, as long as he keeps his special shares that come with voter control.
Ownership of a media company could have ethics watchdogs on alert if Trump does return to the White House.
"This is a potentially dangerous situation," former White House ethics lawyer Richard Painter told Politico. "The government shouldn't be controlling the press (and) that's where we are in social media."
Trump recently said he created Trump Media after being banned from other social media platforms. The venture arose after he began using traditional press releases to engage with his supporters, a strategy that quickly proved successful.
One potential concern is if Trump opts to bypass traditional media press releases or mainstream outlets, choosing instead to communicate exclusively through Truth Social or other companies he owns.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent092024">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: While most presidents haven't owned stocks while in office or put their investments into blind trusts to avoid conflicts of interest, it doesn't appear Trump will be changing his tune about DJT shares anytime soon.
Trump's ownership of hotels were previously involved in ethics concerns due to how government officials were billed for their use while Trump was in office.
According to the report, those seeking favors from Trump or hoping for him to make decisions or publicly support certain positions may perceive increased chances of success if they purchase shares in his company. Members of Congress <a href="https://www.benzinga.com/general/social-media/24/08/40475137/djt-stock-hits-new-lows-since-trump-media-companys-public-debut-heres-how-much-marjorie-tayl">who own DJT shares</a> could also see their prominence rise if Trump returns to the White House.
With Trump's continued ownership of Trump Media &amp; Technology Group, there remains multiple ethics concerns at play if he returns to the White House. The president owning a media company that could profit from his exclusive access, coupled with individuals publicly buying shares in Trump&#8217;s company to demonstrate loyalty, could emerge as significant issues moving forward.
DJT Price Action: Trump Media &amp; Technology shares are down 6.7% to $13.70 on Friday. The stock hit new post-SPAC merger lows of $13.50 earlier in the day. The stock is down 19% year-to-date in 2024.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/social-media/24/09/40943414/donald-trump-can-cash-out-his-trump-media-technology-stock-keep-company-control-heres-how-ma">Donald Trump Can Cash Out His Trump Media &amp; Technology Stock, Keep Company Control: Here&#8217;s How Many Shares He Owns</a></li>
</ul>
Photo: Shutterstock

Politics

Movers

Trump's Stake In Media Group Raises Ethics Concerns Ahead Of 2024 Election: Report

Shares of Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) are down 1.91% to $239.38 Friday afternoon, reversing gains from Thursday's trading session, amid this week&#8217;s unexpected 50-basis-point interest rate cut by the Federal Reserve and <a href="https://www.benzinga.com/markets/equities/24/09/40962983/wall-street-falls-on-triple-witching-day-feds-waller-pushes-gold-to-fresh-record-highs-fedex-plu">overall market weakness</a>.
The decline comes as broader concerns about economic growth and demand pressures begin to weigh on the <a href="https://www.benzinga.com/electric-vehicles">electric vehicle (EV)</a> maker's outlook.
Initial Rally On Lower Rates: Tesla stock surged on Thursday following the Federal Reserve&#8217;s decision to cut interest rates by 50 basis points at the September Federal Open Market Committee (FOMC) meeting, reducing the federal funds rate to a range of 4.75% to 5%. This larger-than-expected rate cut was welcomed by growth-oriented companies like Tesla, which stand to benefit from lower borrowing costs.
The Fed's updated Dot Plot signaled the possibility of additional rate cuts in 2024 and 2025, leading to optimism that cheaper financing would spur demand for capital-intensive goods such as electric vehicles. Lower interest rates also typically make it easier for consumers to finance big-ticket purchases like cars, further boosting demand for Tesla's vehicles.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40944143/wall-street-breaks-records-chipmakers-rally-tesla-hits-2-month-high-as-fed-cut-drives-risk">Wall Street Breaks Records Thursday, Chipmakers Rally, Tesla Hits 2-Month High As Fed Cut Drives Risk-On Mode: What&#8217;s Driving Markets Thursday?</a>
Despite Thursday&#8217;s positive market reaction, Tesla shares dropped on Friday as investors digested the broader implications of the Federal Reserve's latest projections. Several key factors contributed to the decline:
Weaker Economic Growth Outlook: The Federal Reserve revised its GDP growth forecast for 2024 down from 2.1% to 2.0%, signaling slower economic activity ahead. Tesla, which relies on strong consumer demand for its premium electric vehicles, is vulnerable to any signs of economic weakening. A slower growth environment could weigh on consumer spending and potentially reduce demand for discretionary items like cars.
Higher Unemployment Forecast: The Fed also revised its unemployment projections upward, now expecting a 4.4% jobless rate in 2024, up from the previous 4.0%. Rising unemployment could further dampen demand for Tesla's vehicles, as higher joblessness tends to constrain household budgets, particularly for large purchases like electric cars.
Read Also: <a href="https://www.benzinga.com/trading-ideas/technicals/24/09/40961610/fedex-falls-15-after-earnings-miss-bearish-signals-raise-red-flags-for-investors">FedEx Falls 15% After Earnings Miss, Bearish Signals Raise Red Flags For Investors</a>
Concerns Over Tesla's Margins: With a weakening economy, Tesla might need to lower vehicle prices or offer more incentives to maintain demand, potentially squeezing profit margins.
The company has already engaged in several rounds of price cuts throughout 2024 to stay competitive in the growing EV market, which has seen increased competition from legacy automakers and new entrants.
Inflation and Fed's Confidence in Rate Cuts: While the Fed's downward revisions of inflation forecasts for 2024 and 2025 signal a softer inflationary environment, they may also hint at a prolonged period of disinflation.
 A prolonged slowdown in inflation and economic activity could hinder Tesla's growth prospects, particularly in key markets like the U.S. and Europe, where consumer spending may decelerate.
Valuation Concerns Amid Volatility: Tesla, which is traditionally valued at high multiples compared to earnings, faces heightened volatility during periods of economic uncertainty. 
The combination of a slower economy, higher unemployment, and potential margin pressures raises questions about the sustainability of Tesla's lofty valuation. This could prompt profit-taking among investors after Thursday's rally.
Read Also: <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/09/40960886/palantir-dell-to-join-s-p-500-friday-heres-how-tesla-stock-has-performed-since-its-add">Palantir, Dell To Join S&amp;P 500 Friday: Here&#8217;s How Tesla Stock Has Performed Since Its Addition In 2020</a>
<h2 class="wp-block-heading">How To Buy TSLA Stock</h2>
Besides going to a brokerage platform to purchase a share &#8211; or fractional share &#8211; of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument. 
For example, in Tesla&#8217;s case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, TSLA has a 52-week high of $271.00 and a 52-week low of $138.80.

TSLA

What's Going On With Tesla Stock Today

Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) reportedly ruled out taking an equity stake in Woodside Energy Group Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WDS#NYSE">WDS</a>) <a href="https://www.benzinga.com//node/39879353">upcoming acquisition of Driftwood LNG in Louisiana.</a>
Colin Parfitt, head of midstream operations, told Reuters that Chevron can effectively monetize its U.S. gas without converting it to LNG.
The decision reflects the company&#8217;s earlier choice to bypass investment in U.S. LNG plant construction and sell its gas directly to the market instead.
In July 2023, Chevron executives said in an interview that the company is confident in its &#8216;buy-rather-than-build&#8217; strategy, which an S&amp;P Global <a target="_blank" href="https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/natural-gas/072023-interview-chevron-prefers-buying-us-lng-to-building-export-projects" rel="noreferrer noopener">report </a>highlighted.
During the interview, the company&#8217;s executives stated that Chevron&#8217;s U.S. LNG offtake contracts support its goal of increasing international sales of Permian Basin production, while the company will primarily leave U.S. midstream infrastructure development to third parties to focus on upstream and downstream investments.
In 2022, Chevron&nbsp;U.S.A. entered into long-term <a href="https://lngir.cheniere.com/news-events/press-releases/detail/253/cheniere-and-chevron-sign-long-term-lng-sale-and-purchase">LNG </a>sale and purchase agreements with Cheniere Energy. Notably, given the current interest rate environment, it&#8217;s interesting that Chevron chose not to invest in the construction of a U.S. LNG plant.
Recently, the Federal Reserve decided to reduce interest rates by 50 basis points leading to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40937291/bank-stocks-hit-inflection-point-after-feds-50-basis-point-cut-analyst-reveal-top-p" target="_blank" rel="noreferrer noopener">surge in optimism across major sectors</a>.
Further into the future, the Dot Plot signals the fed funds rate will drop to between 3.25% and 3.5% by the end of 2025, implying an additional 100 basis points of cuts. By the end of 2026 and the newly introduced projections for 2027, <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead" target="_blank" rel="noreferrer noopener">interest rates are expected to fall to 2.9%</a>.
It remains uncertain whether the company will alter its stance after future rate reductions as it wants the best use of its capital.
This week, Chevron Shipping Company, in partnership with Wärtsilä, disclosed that it will convert engines on six&nbsp;liquefied natural gas&nbsp;(LNG) carriers from dual-fuel to spark gas operation to cut methane&nbsp;emissions <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40941443/chevron-takes-steps-to-reduce-methane-emissions-from-lng-carriers" rel="noreferrer noopener">and support its carbon reduction goals</a>.
Investors can gain exposure to the Chevron via&nbsp;E.A. Series Trust Strive U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRLL#NYSE">DRLL</a>) and&nbsp;SPDR Select Sector Fund – Energy Select Sector&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>).
Price Action: CVX shares are up 0.13% at $145.18 at the last check Friday.
Photo by Jonathan Weiss on Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/09/40920735/chevron-slams-bidens-lng-export-pause-touts-natural-gas-for-ai-growth-report" target="_blank" rel="noreferrer noopener">Chevron Slams Biden&#8217;s LNG Export Pause, Touts Natural Gas For A.I. Growth: Report</a></li>
</ul>
Disclaimer: This content was partially produced with the help of A.I. tools and was reviewed and published by Benzinga editors.

Equities

Media

DRLL

Chevron Prioritizes Gas Sales Over LNG Plant Investment: Report

Earlier on Friday, &nbsp;Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) announced headline results from a phase 2a clinical trial with monlunabant, a small-molecule oral cannabinoid receptor 1 (CB1) <a target="_blank" href="https://www.benzinga.com/general/biotech/24/09/40961934/novo-nordisk-stock-declines-after-headline-results-from-mid-stage-study-of-monlunabant-in-obese-p" rel="noreferrer noopener">inverse agonist</a>.
After 16 weeks of treatment, people treated with a once-daily 10 mg dose of monlunabant achieved a weight loss of 7.1 kg compared to a reduction of 0.7 kg with a placebo.
Probably, the investors are reacting to the limited additional weight loss seen at higher doses.
In March, Novo Nordisk <a target="_blank" href="https://www.novonordisk.com/content/dam/nncorp/global/en/investors/irmaterial/cmd/2024/P5-Obesity-Care.pdf" rel="noreferrer noopener">shared</a> monlunabant update during its Capital Markets Day 2024.
In Phase 1, monlunabant produced a statistically significant mean weight loss of 3.5 kg (3.3%) compared to 0.6 kg (0.5%) with placebo at day 28.
Corbus Pharmaceuticals Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRBP#NASDAQ">CRBP</a>) and Skye Bioscience Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYE#NASDAQ">SKYE</a>)&nbsp;stocks plunged in reaction to the data.
All three companies are developing weight loss drugs that employ a mechanism of action, peripheral CB1 inhibition.
Corbus Pharmaceuticals&#8217; investigational CRB-913, also a CB1 inverse agonist, is in the preclinical phase. Human <a target="_blank" href="https://www.corbuspharma.com/our-pipeline" rel="noreferrer noopener">trials</a> are expected to start in the first quarter of 2025.
Analyst reactions:
<ul>
<li>Wedbush maintains Corbus Pharmaceuticals with an Outperform rating and lowered the price <a href="https://www.benzinga.com/quote/CRBP/analyst-ratings" target="_blank" rel="noreferrer noopener">target from $85 to $51</a>.</li>
<li>B. Riley Securities maintains Corbus with a Buy and lowered the price target from $85 to $40.</li>
</ul>
Skye is conducting a Phase 2 trial in obesity for nimacimab, a negative allosteric modulating antibody that peripherally inhibits CB1.
This study is also assessing the combination of nimacimab and Novo Nordisk&#8217;s Wegovy (semaglutide). Skye <a target="_blank" href="https://ir.skyebioscience.com/company-information" rel="noreferrer noopener">expects</a> interim and topline data from its <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/g40503382/skye-bioscience-launches-phase-2-cbeyond-clinical-trial-of-its-differentiated-cb1-inhibitor-nimaci" rel="noreferrer noopener">Phase 2 study in 2025</a>.
Jefferies analyst notes that while expectations for Corbus&#8217; asset have been tempered, key uncertainties persist, making it difficult to draw firm conclusions. This is particularly true as Novo Nordisk advances its obesity candidate. Additional insights from long-term open-label extension data, expected in late October, may provide more clarity.
Price Action: SKYE stock is down 41% at $3.24, and CRBP stock is down 59.4% at $21.00 at last check Friday.
Read Next:
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<li><a href="https://www.benzinga.com/general/biotech/24/09/40963255/johnson-johnsons-rybrevant-scores-third-fda-approval-of-2024-for-certain-type-of-inoperable-lung-" target="_blank" rel="noreferrer noopener">Johnson &amp; Johnson&#8217;s Rybrevant Scores Third FDA-Approval Of 2024 For Certain Type Of Inoperable Lung Cancer In Pretreated Patients</a>.</li>
</ul>

Analyst Color

Price Target

CRBP

SKYE

Novo Nordisk's Monlunabant Data Drags Stocks Of Smaller Players

ICU Medical Inc's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICUI#NASDAQ">ICUI</a>) subsidiary, Smiths Medical, initiated a <a href="https://www.fda.gov/medical-devices/medical-device-recalls/ventilator-recall-smiths-medical-removes-parapac-plus-ventilators-due-loosened-or-detached-patient">recall</a> Friday of its paraPAC plus P300 and P310 ventilators <a href="https://www.benzinga.com/topic/medical-devices">due to faulty parts</a>. 
According to the FDA, there&#8217;s a possibility that the patient outlet connector may loosen or detach, impacting active ventilation. If this happens, it could cause serious adverse health consequences, including not enough ventilation (hypoventilation), not enough oxygen (hypoxia), slowed heartbeat (bradycardia), low blood pressure (hypotension), a sudden stop of the lungs (respiratory arrest), and death.
There has been one reported injury. There has been one report of death.
Smiths Medical PneuPAC paraPAC Plus P300 and P310 Ventilators are gas-powered emergencies and transport portable ventilators, including in vehicles such as airplanes and helicopters.
They are suitable for emergencies at accident scenes and transports between hospitals or within a hospital or medical facility. These ventilators are intended to provide ventilatory support for adults, children, and infants.
The paraPAC Plus devices also provide free-flow oxygen therapy and continuous positive airway pressure (CPAP) therapy for spontaneously breathing patients. They can also be used in emergency situations to provide ventilatory support for CPR resuscitation.
Earlier this week, Smiths Medical initiated a <a href="https://www.fda.gov/medical-devices/medical-device-recalls/tracheostomy-tube-recall-smiths-medical-removes-certain-bivona-neonatalpediatric-and-adult">recall</a> of certain Bivona neonatal/pediatric and adult tracheostomy tubes due. A manufacturing defect caused the securement flange on the <a href="https://www.benzinga.com/news/24/09/40943574/icu-medical-recalls-certain-tracheostomy-tubes-due-to-manufacturing-defects" target="_blank" rel="noreferrer noopener">device to tear</a>. There have been 35 reported injuries and two reported deaths.
Price Action: ICU Medical stock is down 1.56% at $178.44 at last check Friday.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/09/40962425/jp-morgan-targets-uk-with-fresh-credit-card-offering-report" target="_blank" rel="noreferrer noopener">JPMorgan Targets UK With Fresh Credit Card Offering: Report</a></li>
</ul>

ICUI

ICU Medical Recalls ParaPAC Plus Ventilators Due To Loose Outlet Connector That Can Cause Injury Or Death

Shares of Manulife Financial Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mfc#NYSE">MFC</a>) closed at $28.87 on Thursday, near its 52-week high of $28.89. A strong-performing Asia business, expanding Wealth and Asset Management business and a solid capital position are driving the stock price higher.
The company is one of the three dominant life insurers within its domestic Canadian market and possesses rapidly growing operations in the United States and several Asian countries. Earnings grew 4.9% in the last five years, better than the industry average of 4.6%.
Shares have rallied 30.6% year to date, outperforming the industry&#39;s increase of 19%, the Finance sector&#39;s increase of 13.7% and the S&amp;P 500 composite&#39;s rise of 17.7%.
<h2>MFC Outperforms Industry, Sector, S&amp;P 500 YTD</h2>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/d1/78668.jpg?v=2085214265" />
Image Source: Zacks Investment Research
MFC shares are trading well above the 50-day moving average, indicating a bullish trend.
<h2>MFC&#39;s Return on Equity</h2>
Manulife&#39;s return on equity (ROE) for the trailing 12 months is 16.2%, better than the industry average of 15.5%. This reflects Manulife&#39;s efficiency in utilizing shareholders&#39; funds. It expects to generate a ROE of more than 18% by 2027.
<h2>Optimistic Growth Outlook</h2>
The Zacks Consensus Estimate for 2024 and 2025 earnings per share is pegged at $2.72 and $2.86, respectively, suggesting an increase of 5.8% and 5.2% year over year. The long-term earnings growth rate is currently pegged at 10%. Manulife expects core EPS growth of 10-12% over the medium term.&nbsp;
<h2>Factors Favoring MFC</h2>
Manulife&#39;s Asia business continues to be a major contributor to earnings. Asia has been the fastest-growing insurance segment, supported by strong volume growth and attractive margins. This market appears attractive, given its changing demographics. MFC now expects core earnings from Asia to contribute 50% to overall earnings by 2027.
As part of its strategic priorities, Manulife is also investing in high ROE and growth segments in North America.&nbsp; The company&#39;s highest potential businesses, including operations in Asia, Global WAM, Canada group benefits and behavioral insurance products, currently contribute two-thirds to core earnings. The insurer now looks to increase it to 75% and thus is expediting growth in these highest potential businesses.
In tandem with the wave of digitalization going on, MFC is digitalizing and automating workflows through GenAI and advanced analytics.&nbsp; Accelerated digitalization should help it achieve an expense efficiency ratio of less than 45% in the medium term.
Manulife has been strengthening its balance sheet by improving liquidity and leverage. It targets a leverage ratio of 25%. Notably, its free cash flow conversion has remained more than 100% over the last many quarters, reflecting its solid earnings.
The life insurer, banking on consistent cash flow, hiked dividends at a six-year CAGR of 10% and targets a 35-45% dividend payout over the medium term.
<h2>Concerns Regarding MFC</h2>
Despite the upside potential, there are a few factors that investors should keep an eye on.
Manulife targeted an expense efficiency ratio of less than 50% or $1 billion in cost savings and avoidance.&nbsp; It is on track to deliver an efficiency ratio of less than 45% in the future. However, its net margin has been contracting over the last six quarters.
Manulife draws a substantial portion of its earnings from the international market, which makes its profitability vulnerable to foreign exchange losses. In an attempt to lower its forex exposure, the company has started incurring hedging costs.
Though the leverage has been gradually improving, times interest earned has been declining.
The return on invested capital in the trailing 12 months was 0.66%, comparing unfavorably with the industry average of 0.68%, reflecting the insurer&#39;s inefficiency in utilizing funds to generate income.
<h2>MFC Shares Expensive&nbsp;</h2>
MFC shares are trading at a price-to-earnings multiple of 10.23, higher than the industry average of 8.40.
Shares of other insurers like Sun Life Financial&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/slf#NYSE">SLF</a>) and Aflac Incorporated (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/afl#NYSE">AFL</a>) are trading at a multiple higher than the industry average.
<h2>Parting Thoughts</h2>
MFC&#39;s focus on building a high-growth, high-return and high cash generation company, wealth distribution to shareholders and ROE expansion instills confidence in this Zacks Rank #3 (Hold) insurer.
However, given the stock&#39;s premium valuation, it will be wise for new investors to wait for a better entry point.
Investors who already hold MFC stock should retain it, given its growth prospects.
<a href="https://www.zacks.com/stock/news/2339314/mfc-stock-near-52-week-high-should-you-buy-or-wait-for-a-pullback?cid=CS-BENZ-FT-analyst_blog|rank_focused-2339314">To read this article on Zacks.com click here.</a>

Asia

Dividends

MFC Stock Near 52-Week High: Should You Buy or Wait for a Pullback?

Rio Tinto (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rio#NYSE">RIO</a>) announced that it would invest in Pongamia seed farms in Australia to explore the possibility of using its seed oil as a feedstock for renewable diesel. RIO sees biofuels as an avenue to reduce the dependence on fossil diesel, which accounts for around 10% of its emissions footprint in Australia.
To achieve net-zero Scope 1 and 2 carbon emissions by 2050, Rio Tinto has chosen electrification as the long-term solution for replacing the use of diesel in its fleet. While electrification is in progress, the company is looking at other quicker options to lower diesel-sourced emissions, such as biofuels.
Australia does not yet have a biofuel feedstock industry capable of meeting domestic demand. Rio Tinto expects that the pilot will play an important role in addressing this gap while supporting its journey to achieve decarbonization goals.
<h2>Rio Tinto Joins Forces With Midway for Pongamia Farm Trial</h2>
Pongamia is a fast-growing tree that is native to northern Australia. It produces large numbers of seeds, which are rich in oil and protein. The seeds can be processed into renewable diesel, which offers a significant reduction in carbon emissions compared with fossil fuel diesel.
After the extraction of oil, the seed pod and meal can be processed for other uses such as cattle feed. Pongamia has other benefits, it is drought tolerant, salinity and flood resistant, with low water, fertilization and pest control requirements making it easy to grow.
Rio Tinto is in the final stages of acquiring approximately 3,000 hectares of cleared land near Townsville in north Queensland to establish farms to study growth conditions and measure seed oil yields.
RIO has partnered with Midway Limited to oversee the planting and management of the seed farms. The companies will plant approximately 750,000 Pongamia saplings.
<h2>Rio Tinto&#39;s Decarbonization Efforts</h2>
In 2023, Rio Tinto&#39;s Scope 1 and 2 emissions were 32.6Mt CO2e, which marked a reduction of 5.5% from its 2018 baseline. It plans to invest capital in the range of $5- $6 billion by 2030 to deliver on its decarbonization strategy.
In July, RIO announced that it is set to install carbon-free aluminum smelting cells at its Arvida smelter in Qu&eacute;bec, Canada, utilizing the first technology license issued by the ELYSIS joint venture. The groundbreaking ELYSIS technology aims to eliminate all direct greenhouse gases from the conventional aluminum smelting process by producing oxygen as a byproduct while improving efficiency by producing more aluminum at lower costs.
In May 2024, Rio Tinto and BHP Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bhp#NYSE">BHP</a>) teamed up to trial large battery-powered haul trucks manufactured by Caterpillar (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cat#NYSE">CAT</a>) and Komatsu (OTC: <a class="ticker" href="https://www.benzinga.com/stock/kmtuy#OTC">KMTUY</a>) in the Pilbara region of Western Australia. The trials will kick off with two Cat 793 haul trucks in 2024, followed by two Komatsu 930 haul trucks in 2026.
BHP will trial the Caterpillar trucks while Rio Tinto will test the Komatsu trucks. This collaboration between two leading global miners with two of the world&#39;s largest haul truck manufacturers seeks to address the critical challenge of achieving zero-emissions haulage in the mining sector.
Even though electrification is the most efficient and cost-effective solution to reduce the use of fossil diesel in mining fleet and equipment, Rio Tinto does not expect mass deployment of battery electric haul trucks at its operations to be technically or commercially feasible before 2030.
In the meantime, Rio Tinto intends to explore other avenues like biofuels to reduce diesel-sourced emissions. In June 2023, its Boron operation in California fully transitioned its heavy machinery from fossil diesel to renewable diesel. It is the first open pit mine in the world to achieve this feat.&nbsp; The company expects to replicate this at its Kennecott copper operation in Utah this year. It is also investigating the usage of biofuels in scenarios where electrification may be challenging to implement.
<h2>RIO&#39;s Price Performance &amp; Zacks Rank</h2>
In a year, shares of Rio Tinto have gained 2.2% against the industry&#39;s 2.8% decline.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/b0/78685.jpg?v=1692237515" />
Image Source: Zacks Investment Research
Rio Tinto currently has a Zacks Rank #3 (Hold).
<a href="https://www.zacks.com/stock/news/2339414/rio-to-test-biofuel-crop-for-renewable-diesel-production-in-australia?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2339414">To read this article on Zacks.com click here.</a>

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