Tern (OTC:TERNF) Stock, Quote.Headers.trade-ideas

Tern PLC is an Alternative Investment Market, quoted investment company. The company mainly focuses on investing in the Internet of Things sector. The company's investment portfolio consists of Push Technology Limited, Talking Medicines, Wyld Networks, Konektio (previously InVMA), FundamentalVR, and Device Authority which are in the business of development of data security software, database analytics, and search software.

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Remember when your tech-obsessed friend wouldn't stop talking about Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) back in 2013? They'd corner you at parties, excitedly proclaiming that this "magic internet money" was the future. You rolled your eyes, thinking it was just another passing fad, right? Fast forward to today, and those &#8220;crypto bros&#8221; might be having the last laugh. Bitcoin is no longer just the domain of tech geeks and libertarians; it's becoming a cornerstone of the global financial system. Yes, you read that right—Bitcoin, the same digital currency that was once used to buy pizza (remember Bitcoin Pizza Day?), is now being embraced by financial institutions and corporations worldwide. 
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But how did we get here? How did Bitcoin transition from a speculative asset to something that serious financial players consider a viable part of their portfolios? The journey has been fascinating, marked by technological advancements, regulatory changes, and increasing institutional adoption. And it's not just the tech-savvy few who are paying attention anymore—everyone from Wall Street bankers to government regulators is now in on the game.&nbsp;
So, buckle up as we explore how Bitcoin has gone from being a fringe curiosity to a legitimate and increasingly important part of the financial landscape. Along the way, we'll explore the improvements in security, the role of regulation, the growing acceptance of Bitcoin as collateral by financial institutions, and why this might just be the beginning of Bitcoin's true coming-of-age moment.&nbsp;
The Evolution of Bitcoin: From Fringe to Financial Powerhouse&nbsp;
Ah, Bitcoin. What started as the darling of internet forums and the preferred currency of basement-dwelling tech enthusiasts has now grown up and entered the big leagues. Remember when Bitcoin was just a quirky experiment that only the &#8220;crypto bros&#8221; believed in? Well, it turns out those crypto bros might have been onto something. Fast forward to today, and Bitcoin is no longer just a digital currency used for buying questionable items online—it&#8217;s becoming an integral part of the global financial system.&nbsp;
Bitcoin's Early Days&nbsp;
In the beginning, Bitcoin was seen as a wild west of finance, appealing to libertarians and those skeptical of government control over currency. It was decentralized, unregulated, and, let's face it, a little bit rebellious. People who bought Bitcoin in its early days were often seen as speculators or tech geeks playing with digital Monopoly money. Back then, Bitcoin's value was notoriously volatile, and its practical use was limited.&nbsp;
Mainstream Adoption&nbsp;
But times have changed. Over the last decade, Bitcoin has gone from being a niche asset to being embraced by major financial institutions, corporations, and even governments. Companies like MicroStrategy, Tesla, and Block (formerly Square) have added Bitcoin to their balance sheets, signaling a shift in how digital assets are perceived. Meanwhile, financial institutions like Goldman Sachs and Fidelity are now offering Bitcoin-backed loans and other services, acknowledging that Bitcoin is not just a speculative asset but a legitimate part of modern finance.&nbsp;
The Big Players Join In&nbsp;
The turning point came when institutional investors began entering the Bitcoin market, adding credibility and stability to what was once considered a speculative bubble. Hedge funds, pension funds, and even some central banks started dipping their toes into the crypto waters. The launch of Bitcoin ETFs (exchange-traded funds) further legitimized Bitcoin by making it easier for traditional investors to gain exposure to it without having to directly purchase and store the <a href="https://www.binance.com/">cryptocurrency</a>.&nbsp;
Bitcoin's evolution from a fringe asset to a financial powerhouse demonstrates the growing maturity and acceptance of digital currencies. It&#8217;s no longer just the domain of internet forums and tech conferences; it&#8217;s being discussed in boardrooms and integrated into corporate strategies worldwide. The once-dismissed digital currency is now playing a crucial role in the global financial system, and its journey is far from over. Stay tuned because this is just the beginning.&nbsp;
Improved Security: A Game-Changer for Bitcoin's Legitimacy&nbsp;
In the early days of Bitcoin, the word &#8220;security&#8221; often conjured up images of hackers, stolen wallets, and exchanges going belly up overnight. The Mt. Gox hack in 2014, where 850,000 Bitcoins were stolen, was a harsh wake-up call that shook the confidence of many in the nascent cryptocurrency market. But like any good comeback story, Bitcoin has turned its greatest weaknesses into strengths, and today, improved security measures are a cornerstone of its growing legitimacy.&nbsp;
Enhanced Security Measures&nbsp;
One of the most significant developments in the cryptocurrency world has been the introduction of robust security protocols that protect digital assets. Cold storage, which keeps private keys offline and away from the reach of hackers, has become the gold standard for securing copious amounts of Bitcoin. Multi-signature wallets, which require multiple parties to approve a transaction before it can be executed, add another layer of security by making it much harder for any single actor to compromise the system.&nbsp;
Additionally, the rise of decentralized finance (DeFi) platforms and decentralized exchanges (DEXs) has shifted the focus away from vulnerable centralized exchanges. These decentralized solutions eliminate the need for a single point of failure, reducing the risk of massive security breaches like those that plagued the early days of crypto. The collapse of centralized exchanges, such as the infamous FTX debacle, has further underscored the importance of decentralization in securing digital assets.&nbsp;
Impact on Adoption&nbsp;
These security improvements have not only restored faith among early Bitcoin adopters but have also attracted a new wave of institutional investors who previously viewed cryptocurrency as too risky. Major financial institutions and custodians now offer secure storage solutions tailored specifically for institutional investors, ensuring that their digital assets are protected with the highest security standards. For instance, Fidelity Digital Assets and Coinbase Custody are leading the way in providing institutional-grade custody services, making Bitcoin a safer bet for large-scale investors.&nbsp;
Real-World Examples&nbsp;
The impact of these security advancements is evident in the actions of major corporations and financial institutions. Companies like Tesla and MicroStrategy, which have made substantial Bitcoin investments, often cite improved security measures as a key factor in their decision to add Bitcoin to their balance sheets. The confidence provided by enhanced security is also reflected in the growing number of Bitcoin-backed financial products, such as ETFs and loans, which rely on secure storage solutions to protect underlying assets.&nbsp;
As Bitcoin continues to mature, its security infrastructure will play a crucial role in driving broader adoption. With the peace of mind that comes from knowing their assets are secure, more businesses and investors are likely to embrace Bitcoin as a legitimate and valuable component of their financial strategies.&nbsp;
Regulation: The Double-Edged Sword of Legitimacy&nbsp;
Bitcoin has long been the poster child of decentralization, a digital currency free from government control. But as it inches closer to mainstream adoption, it finds itself increasingly entangled with the very institutions it was designed to circumvent. The global regulatory landscape is evolving rapidly, with governments and financial authorities around the world implementing rules to bring Bitcoin and other cryptocurrencies into the fold. This regulatory embrace is a double-edged sword—on one hand, it legitimizes Bitcoin, providing a clearer framework for businesses and investors; on the other, it introduces new challenges that could stifle the very innovation that has driven Bitcoin's rise.&nbsp;
The Global Regulatory Landscape&nbsp;
Around the world, regulators are stepping up their efforts to oversee the burgeoning cryptocurrency market. In the United States, the SEC's approval of Bitcoin ETFs marked a significant milestone, offering a regulated way for investors to gain exposure to Bitcoin without directly holding the asset. Meanwhile, the European Union's Markets in Crypto-Assets (MiCA) regulation provides a comprehensive framework for digital assets, aiming to protect consumers while fostering innovation. Japan, one of the first countries to regulate Bitcoin, continues to refine its regulatory approach to balance security with growth in the crypto space.&nbsp;
Pros and Cons&nbsp;
On the plus side, regulation brings much-needed legitimacy to Bitcoin. By establishing clear rules, regulators are making it easier for traditional financial institutions to engage with cryptocurrencies. This, in turn, is paving the way for broader adoption, as businesses and investors gain confidence in the security and stability of the market. Regulation also helps to weed out bad actors, reducing the risk of fraud and market manipulation that plagued the early days of Bitcoin.&nbsp;
However, regulation is not without its downsides. Critics argue that too much oversight could stifle innovation, driving crypto projects and businesses to more permissive jurisdictions. The challenge lies in striking the right balance—implementing rules that protect consumers and maintain market integrity without stifling the decentralized ethos that underpins Bitcoin. The recent IRS regulations on digital asset reporting, which aim to increase tax compliance, are a case in point. While these rules bring clarity, they also introduce significant compliance burdens, particularly for smaller players in the market.&nbsp;
Finding the Balance&nbsp;
The key to Bitcoin's continued success lies in finding a regulatory balance that allows for both growth and protection. While regulations are necessary to bring Bitcoin into the mainstream financial system, they must be carefully crafted to preserve the innovation and decentralization that make Bitcoin unique. As regulators continue to refine their approach, the industry will need to adapt, ensuring that Bitcoin remains a dynamic and evolving part of the global financial system.&nbsp;
Financial Institutions Accepting Bitcoin as Collateral: A New Era in Banking&nbsp;
As Bitcoin continues to mature and integrate into the global financial system, one of the most significant developments is the growing acceptance of Bitcoin as collateral by major financial institutions. This trend signals a broader acceptance of Bitcoin as a legitimate financial asset and a valuable tool for corporate finance.&nbsp;
Institutional Acceptance&nbsp;
In recent years, some of the world&#8217;s largest financial institutions have begun exploring and offering Bitcoin-backed loans. Goldman Sachs, for instance, has been exploring ways to use Bitcoin as collateral for loans without directly handling the cryptocurrency. Instead, they are looking at synthetic products that replicate the economic benefits of holding Bitcoin without the need to manage the asset directly. This approach allows traditional banks to dip their toes into the crypto world while mitigating some of the risks associated with the volatility and security of digital assets.&nbsp;
Similarly, other institutions like Silvergate Bank and Fidelity have also started accepting Bitcoin as collateral for loans. Silvergate, known for its crypto-friendly approach, offers loans collateralized by Bitcoin through its Silvergate Exchange Network (SEN) Leverage product. Fidelity, on the other hand, provides institutional-grade custody services that enable businesses to secure loans against their Bitcoin holdings. These services provide companies with access to capital without having to sell their Bitcoin, preserving their exposure to potential price appreciation.&nbsp;
Benefits for Businesses&nbsp;
The ability to use Bitcoin as collateral opens new avenues for corporate finance. For businesses, this means quicker access to capital with potentially lower interest rates compared to traditional loans. Bitcoin-backed loans offer flexibility and efficiency, allowing businesses to leverage their digital assets without liquidating them. This is particularly advantageous for companies that hold significant Bitcoin reserves and want to use them to fund operations, invest in new projects, or manage cash flow.&nbsp;
Furthermore, the acceptance of Bitcoin as collateral by established financial institutions is a strong signal of the growing legitimacy of cryptocurrencies in the eyes of traditional finance. It blurs the line between the old and new financial worlds, offering a glimpse into a future where digital assets are an integral part of the financial system.&nbsp;
Future Outlook&nbsp;
As more financial institutions explore Bitcoin-backed financial products, we can expect to see a broader range of services that integrate Bitcoin into the traditional financial infrastructure. This could include everything from Bitcoin-collateralized mortgages to investment products that allow consumers to earn interest on their Bitcoin holdings. The continued expansion of these services will drive further adoption of Bitcoin, both as a store of value and as a functional financial tool.&nbsp;
Bitcoin ETFs and the Path to Widespread Adoption&nbsp;
The approval and launch of Bitcoin Exchange-Traded Funds (ETFs) mark another pivotal moment in Bitcoin&#8217;s journey from a niche asset to a mainstream financial instrument. Bitcoin ETFs provide a regulated and accessible way for traditional investors to gain exposure to Bitcoin without needing to buy, store, or manage cryptocurrency directly.&nbsp;
Introduction of Bitcoin ETFs&nbsp;
Bitcoin ETFs have been long-awaited by both the crypto community and traditional investors. These financial products allow investors to buy shares that track the price of Bitcoin, making it easier for them to add Bitcoin exposure to their portfolios through their existing brokerage accounts. The U.S. Securities and Exchange Commission (SEC) gave the green light to the first Bitcoin futures ETFs in late 2021, and since then, several more have been launched.&nbsp;
The approval of these ETFs was a significant milestone, as it signaled regulatory acceptance of Bitcoin as a legitimate asset class. It also opened the door for a new wave of institutional and retail investment, further integrating Bitcoin into the global financial system. For many investors, ETFs offer a familiar and regulated way to invest in Bitcoin, reducing the barriers to entry that have previously limited broader adoption.&nbsp;
Impact on Adoption&nbsp;
The availability of Bitcoin ETFs has had a profound impact on the adoption of Bitcoin. These products provide a bridge between traditional finance and the crypto world, making it easier for a wider range of investors to participate in the Bitcoin market. As a result, Bitcoin ETFs have attracted significant inflows from institutional investors, pension funds, and even individual retirement accounts (IRAs), bringing more capital into the crypto market.&nbsp;
Facing The Future of Bitcoin in the Financial System&nbsp;
So, were the &#8220;crypto bros&#8221; right all along? In many ways, yes. Bitcoin has evolved from a speculative digital asset into a legitimate and increasingly important part of the global financial system. Improved security measures, a clearer regulatory framework, widespread adoption by financial institutions, and the introduction of Bitcoin ETFs have all contributed to Bitcoin's growing role in finance.&nbsp;
Bitcoin is no longer just a fringe asset held by tech enthusiasts; it is now being embraced by major corporations, financial institutions, and individual investors alike. As Bitcoin continues to mature, it's becoming clear that its integration into the financial system is not just a passing trend but a long-term shift that will continue to reshape how we think about money and investments.&nbsp;
For businesses and investors looking to stay ahead of the curve, now is the time to explore how Bitcoin can be a part of your financial strategy. Luxolo's Business Program offers tailored solutions to help you integrate Bitcoin into your corporate treasury and take advantage of the opportunities this revolutionary asset provides. The future of finance is digital, and Bitcoin is leading the way.&nbsp;
And as for those early adopters who believed in Bitcoin's potential from the start? They might just get the last laugh after all.&nbsp;

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

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The Crypto Bros Were Right? How Bitcoin is Becoming an Important Part of the Financial System

Academy Sports and Outdoors, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aso#NASDAQ">ASO</a>) came out with quarterly earnings of $2.03 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $2.09 per share a year ago. These figures are adjusted for non-recurring items.
A quarter ago, it was expected that this company would post earnings of $1.23 per share when it actually produced earnings of $1.08, delivering a surprise of -12.20%.
Over the last four quarters, the company has not been able to surpass consensus EPS estimates.
Academy Sports and Outdoors, which belongs to the Zacks Leisure and Recreation Products industry, posted revenues of $1.55 billion for the quarter ended July 2024, missing the Zacks Consensus Estimate by 1.43%. This compares to year-ago revenues of $1.58 billion. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
Academy Sports and Outdoors shares have lost about 20.2% since the beginning of the year versus the S&amp;P 500&#39;s gain of 14.7%.
<h2>What&#39;s Next for Academy Sports and Outdoors?</h2>
While Academy Sports and Outdoors has underperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Academy Sports and Outdoors: unfavorable. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $1.44 on $1.43 billion in revenues for the coming quarter and $6.51 on $6.15 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Leisure and Recreation Products is currently in the bottom 10% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Carnival (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ccl#NYSE">CCL</a>), another stock in the broader Zacks Consumer Discretionary sector, has yet to report results for the quarter ended August 2024.
This cruise operator is expected to post quarterly earnings of $1.15 per share in its upcoming report, which represents a year-over-year change of +33.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Carnival&#39;s revenues are expected to be $7.8 billion, up 13.7% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2333882/academy-sports-and-outdoors-inc-aso-q2-earnings-match-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2333882">To read this article on Zacks.com click here.</a>

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Academy Sports and Outdoors, Inc. Q2 Earnings Match Estimates

Air Products and Chemicals, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/apd#NYSE">APD</a>) is expected to gain from its project investments, productivity actions and new business deals amid the softness in China and Europe.
The company&#39;s shares have lost 9.6% over a year compared with a 10.6% decline of its industry.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/96/77101.jpg?v=847617279" />
Image Source: Zacks Investment Research
Let&#39;s find out why this Zacks Rank #3 (Hold) stock is worth retaining at the moment.
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<h2>High-return Projects and Productivity Actions Aid APD Stock</h2>
Air Products is well-placed to benefit from its investments in high-return industrial gas projects and productivity measures. It remains focused on its gasification strategy and is executing its growth projects. These projects are expected to be accretive to earnings and cash flows.
APD is realizing the benefits of the completion of the second phase of the Jazan project in Saudi Arabia. The company has a total available capacity to deploy (over fiscal 2024-2033) $30.8 billion in high-return investments aimed at creating significant shareholder value.
Air Products is also driving productivity to improve its cost structure. It is seeing the positive impacts of its productivity actions. Benefits from additional productivity and cost improvement programs are likely to support its margins moving ahead. The company also remains focused on improving pricing amid an inflationary environment.
The company also remains committed to maximizing returns to shareholders leveraging strong balance sheet and cash flows. Air Products&#39; board, in January 2024, increased its quarterly dividend to $1.77 per share. This marked the 42nd straight year of dividend increase. APD paid roughly $1.5 billion in dividends to shareholders in 2023. It expects to return roughly $1.6 billion to shareholders through dividends in 2024.
<h2>Softness in China &amp; Europe a Worry for Air Products</h2>
The slowdown in China and Europe may affect APD&#39;s business in these regions. The sluggish China economy is impacting volumes in the Industrial Gases - Asia segment. A slower economic recovery in China and the softness in electronics may continue to affect the segment&#39;s volumes.
Air Products is also seeing weak demand for merchant products in Europe. Its volumes in Europe rose modestly year-over-year in the fiscal third quarter as the contribution of the new assets in Uzbekistan offset weaker merchant volumes. The lack of growth in industrial output in Europe is a concern for the near term.
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<h3>Air Products and Chemicals, Inc. Price and Consensus</h3>
<img alt="Air Products and Chemicals, Inc. Price and Consensus" src="https://staticx-tuner.zacks.com/images/charts/3f/1725958852.png" style="height:265px; width:590px" title="" />
Air Products and Chemicals, Inc. price-consensus-chart | Air Products and Chemicals, Inc. Quote
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<h2>Stocks to Consider</h2>
Better-ranked stocks in the Basic Materials space are, Hawkins, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hwkn#NASDAQ">HWKN</a>), Element Solutions Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/esi#NYSE">ESI</a>) and Eldorado Gold Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ego#NYSE">EGO</a>), each sporting a Zacks Rank #1 (Strong Buy).
The Zacks Consensus Estimate for Hawkins&#39; current fiscal-year earnings is pegged at $4.14, indicating a rise of 15.3% from year-ago levels. The Zacks Consensus Estimate for HWKN&#39;s current fiscal-year earnings has increased 12.8% in the past 60 days. The stock has rallied around 101% in the past year.
The consensus estimate for Element Solutions&#39; current-year earnings has increased by 0.7% in the past 60 days. ESI beat the consensus estimate in three of the last four quarters while delivering in-line results on the other occasion. In this timeframe, it delivered an earnings surprise of around 3.8%, on average.
The Zacks Consensus Estimate for Eldorado Gold&#39;s current year earnings is pegged at $1.35 per share, indicating a year-over-year rise of 136.8%. EGO beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 430.3%. The company&#39;s shares have rallied roughly 64% in the past year.
<a href="https://www.zacks.com/stock/news/2333874/here-s-why-you-should-hold-onto-air-products-stock-for-now?cid=CS-BENZ-FT-analyst_blog|rank_focused-2333874">To read this article on Zacks.com click here.</a>

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United Airlines CEO Says Boeing Has 'Turned The Corner'

Sony Group Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>)&nbsp;is preparing to launch a faster and premium version of its popular video game console to boost sales ahead of the holiday season.
The PlayStation 5 Pro <a target="_blank" href="https://www.businesswire.com/news/home/20240910040977/en/Sony-Interactive-Entertainment-Reveals-PlayStation-5-Pro-the-Most-Visually-Compelling-Way-to-Play-Games-on-PlayStation" rel="noreferrer noopener">will be available</a> on November 7 for $700, an increase of $200 from the standard version. Prior speculations quoted the price at $600, backed by a new Advanced Micro Devices, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) chip and <a target="_blank" href="https://www.benzinga.com/general/gaming/24/09/40755736/playstation-leak-confirms-ps5-pro-design-could-a-release-be-near" rel="noreferrer noopener">improved cooling technology</a>.
PlayStation 5 game users can avail themselves of upgraded resolutions and frame rates without toggling between different modes, Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-09-10/sony-reveals-new-faster-playstation-5-pro-for-700?srnd=phx-technology&amp;sref=TBDibEcD" rel="noreferrer noopener">cites</a> Mark Cerny, lead architect of the console.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/gaming/24/05/39070785/microsoft-confirms-call-of-duty-black-ops-6-on-xbox-game-pass-at-launch" rel="noreferrer noopener">Microsoft Confirms Call Of Duty: Black Ops 6 On Xbox Game Pass At Launch</a>
He told Bloomberg that the PlayStation 5 Pro would offer 45% faster rendering than the standard PlayStation 5.
PlayStation 5 has sold more than 59 million units since its release in 2020.
Sony clocked&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40215609/sony-q1-topline-and-earnings-beat-music-and-gaming-divisions-lead-growth" rel="noreferrer noopener">fiscal first-quarter 2024</a> topline growth&nbsp;of 2% year-on-year to $19.3 billion, beating the analyst consensus of&nbsp;$17.19 billion.&nbsp;
Game &amp; Network Services (G&amp;NS) revenue increased 12%. Sony sold 2.4 million PlayStation 5 units in the quarter, down from&nbsp;3.3 million a year ago, missing the analyst estimate of 3 million.
The <a target="_blank" href="https://www.benzinga.com/general/gaming/24/07/40081075/microsoft-reports-sharp-decline-in-xbox-hardware-sales-for-q4-but-theres-a-silver-lining" rel="noreferrer noopener">major console makers</a>, including&nbsp;Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Sony,&nbsp;and Nintendo Co (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NTDOF#OTC">NTDOF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NTDOY#OTC">NTDOY</a>), faced double-digit percentage declines in May 2024, indicating the natural life cycle of gaming consoles.
Investors can gain exposure to Sony stock through Invesco International Dividend Achievers ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PID#NASDAQ">PID</a>) and SPDR S&amp;P Kensho New Economies Composite ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KOMP#NYSE">KOMP</a>).
Price Action: SONY stock is up 1.99% at $92.86 at&nbsp;the last check Tuesday.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40375035/nintendos-switch-2-delay-what-we-know-about-the-upcoming-console" target="_blank" rel="noreferrer noopener">Nintendo&#8217;s &#8220;Switch 2&#8221; Delay: What We Know About The Upcoming Console</a></li>
</ul>
Photo via Sony Blog

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Sony's PlayStation 5 Pro to Hit Shelves in November, Boasting 45% Faster Performance

Owens-Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OC#NYSE">OC</a>) has outperformed the market over the past 10 years by 6.06% on an annualized basis producing an average annual return of 16.64%. Currently, Owens-Corning has a market capitalization of $13.61 billion. 
Buying $1000 In OC: If an investor had bought $1000 of OC stock 10 years ago, it would be worth $4,661.62 today based on a price of $156.55 for OC at the time of writing.
<h3>Owens-Corning's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725993024_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In This Stock 10 Years Ago Would Be Worth $4,700 Today

Valero Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLO#NYSE">VLO</a>) has outperformed the market over the past 15 years by 2.36% on an annualized basis producing an average annual return of 13.83%. Currently, Valero Energy has a market capitalization of $43.02 billion. 
Buying $1000 In VLO: If an investor had bought $1000 of VLO stock 15 years ago, it would be worth $7,112.02 today based on a price of $134.28 for VLO at the time of writing.
<h3>Valero Energy's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725993020_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In This Stock 15 Years Ago Would Be Worth $7,100 Today

RB Global's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBA#NYSE">RBA</a>) short percent of float has fallen 11.36% since its last report. The company recently reported that it has 6.40 million shares sold short, which is 3.98% of all regular shares that are available for trading. Based on its trading volume, it would take traders 7.78 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>RB Global Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725993020_0_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for RB Global has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing RB Global's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, RB Global's peer group average for short interest as a percentage of float is 4.34%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Peering Into RB Global's Recent Short Interest

Willis Towers Watson's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WTW#NYSE">WTW</a>) short percent of float has risen 5.66% since its last report. The company recently reported that it has 888 thousand shares sold short, which is 1.12% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.95 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Willis Towers Watson Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725993015_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Willis Towers Watson has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Willis Towers Watson's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Willis Towers Watson's peer group average for short interest as a percentage of float is 4.12%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Peering Into Willis Towers Watson's Recent Short Interest

Revvity's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RVTY#NYSE">RVTY</a>) short percent of float has risen 10.95% since its last report. The company recently reported that it has 4.15 million shares sold short, which is 4.46% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.81 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Revvity Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725993010_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Revvity has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Revvity's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Revvity's peer group average for short interest as a percentage of float is 5.24%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

RVTY

Looking Into Revvity's Recent Short Interest

WIIM

GILD

Gilead Sciences shares are trading higher after announcing a strategic collaboration with Genesis Therapeutics to develop novel small molecule therapies. Gilead will gain exclusive rights to develop and commercial products using Genesis's GEMS AI platform for target optimization.

The so-called Airport Fire broke out in a field for remote-controlled airplanes in the Trabuco Canyon area and quickly grew to thousands of acres. Over 1,000 firefighters responded to the blaze, the latest in several wildfires affecting southern California. <a href="https://www.nbcnews.com/video/airport-fire-rages-in-southern-california-218968133593" title="https://www.nbcnews.com/video/airport-fire-rages-in-southern-california-218968133593">https://www.nbcnews.com/video/airport-fire-rages-in-southern-california-218968133593</a>

'Thousands forced to evacuate as Airport Fire rages in southern California' ' NBC News

A highly anticipated presidential debate between Kamala Harris and Donald Trump will take place Tuesday at 9 p.m. ET, with less than two months until the <a href="https://www.benzinga.com/topic/2024-election">2024 presidential election.</a>
What Happened: Trump and Harris will <a href="https://www.benzinga.com/general/politics/24/09/40782598/harris-vs-trump-how-to-watch-2024-presidential-debate-rule-disputes-and-key-topics-for-voters">face off for the first time</a> in Tuesday's presidential debate. The event will be 90 minutes in length with two commercial breaks.
ABC News, which is a unit of The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>), is serving as host of the event, with a simulcast available for other media companies.
Trump and Harris are expected to cover a number of topics and policies that could win over undecided voters or potentially change the minds of voters who had already backed one of the two candidates.
The candidates will have muted mics when the other candidate is speaking and will be given two minutes time to answer questions from the moderators.
Ahead of the debate, Harris sent a warning to potential voters about what Trump will do at the debate.
"We should be prepared for the fact that he is not burdened by telling the truth," Harris said during a radio interview that was recorded last week, as reported by the New York Times. "We should be prepared for the fact that he is probably going to speak a lot of untruths."
Harris said Trump's past comments about President Barack Obama's birthplace and questions about presidential candidate Hillary Clinton serve as a blueprint of what to expect Tuesday night.
"I think he's going to lie. He has a playbook that he has used in the past, be it, you know, his attacks on President Obama or Hillary Clinton. So we should expect that some of that might come out," Harris added.
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent091024">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
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Why It's Important: The comments from Harris come as ABC News and other media companies airing the debate are tasked with the difficulty of trying to fact-check the comments from the two candidates in real time. The ABC News moderators could step in to clarify any false statements made by the candidates, but they will likely reserve fact-checking for a discussion following the debate in most cases.
Millions of viewers are<a href="https://www.benzinga.com/general/politics/24/09/40797797/trump-vs-harris-debate-do-voters-want-to-hear-more-about-economy-healthcare-or-bitcoin"> expected to tune into</a> the debate, with some experts seeing the highly anticipated face off coming close to the record 84 million viewers who watched the presidential debate between Clinton and Trump in 2016, which is the current debate record.
Check This Out:
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<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent091024">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Photo: Shutterstock

Politics

Harris Predicts Trump's Behavior In Upcoming Debate: 'I Think He's Going To Lie'

Newmont Corporation&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nem#NYSE">NEM</a>) shares have rallied 24.8% in the past three months, outperforming the Zacks Mining &ndash; Gold industry&#39;s rise of 12.4%. Forecast-topping earnings performance in the second quarter on the back of higher selling prices and production, along with a surge in gold prices, has contributed to the run-up in NEM&#39;s shares.
The stock is currently trading at a roughly 6% discount to its 52-week high of $53.88, reached on Aug. 30, 2024.
Technical indicators show that NEM has been unremittingly trading above the 200-day simple moving average&nbsp;since April 23, 2024. After a series of ebbs and flows, the stock broke the 50-day SMA on July 3, 2024.&nbsp; Following a golden crossover on May 13, 2024, the 50-day SMA continues to read higher than the 200-day moving average, manifesting a bullish trend, with the 200-day SMA acting as the support level.
<h2>Newmont&#39;s Shares Trade Above 50-Day SMA</h2>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/a7/77086.jpg?v=2064703259" style="height:310px; width:600px" />
Image Source: Zacks Investment Research
Is the time right to buy NEM&#39;s shares for potential upside? Let&#39;s take a look at the stock&#39;s fundamentals.
<h2>NEM Stock Well Poised on Key Projects &amp; Newcrest Buyout</h2>
Newmont continues to invest in growth projects in a calculated manner. The company is pursuing several projects, including Tanami Expansion 2 in Australia, the Ahafo North expansion in Ghana and Cadia Block Caves in Australia. These projects should expand production capacity and extend mine life, thereby driving revenues and profits.
The acquisition of Newcrest Mining Limited has also created an industry-leading portfolio with a multi-decade gold and copper production profile in the most favorable mining jurisdictions globally. The combination of Newmont and Newcrest is expected to deliver significant value for shareholders and generate meaningful synergies, with $500 million in total annual pre-tax benefits expected by the end of 2025. NEM also remains on track to meet its 2024 gold production target of around 6.9 million ounces with solid performances of its managed Tier 1 assets and contributions of the sites acquired from the Newcrest buyout.
<h2>Solid Financial Health Supports NEM&#39;s Capital Allocation</h2>
Newmont has a strong liquidity position and generates substantial cash flows, which allows it to fund its growth projects, meet short-term debt obligations and drive shareholder value. At the end of the second quarter of 2024, Newmont had liquidity of $6.8 billion, including cash and cash equivalents of around $2.6 billion. Its operating cash flow more than doubled year over year to around $1.4 billion. NEM also generated $594 million in free cash flow and returned roughly $539 million to its shareholders through dividends and share buybacks in the quarter.
As a leading gold producer, Newmont also stands to benefit significantly from the record-setting upswing in gold prices, which should boost its profitability and drive cash flow generation. Gold prices are hitting record highs this year, and the yellow metal has been among the best-performing assets.
Prices skyrocketed to surpass the $2,500 per ounce level for the first time on Aug. 2, 2024, as ebbing inflation raised hopes of a U.S. interest rate cut in September. Increased tensions in the Middle East and concerns over an economic slowdown also fueled safe-haven demand. Prices rallied to a record high of $2,531.70 per ounce on Aug. 20, 2024, on growing Fed rate cut expectations.
NEM offers a healthy dividend yield of 2% at the current stock price. Its payout ratio is 47% (a ratio below 60% is a good indicator that the dividend will be sustainable), with a five-year annualized dividend growth rate of 15.5%. Backed by strong cash flows and sound financial health, the company&#39;s dividend is perceived to be safe and reliable.
<h2>NEM&#39;s Higher Production Costs A Concern</h2>
Newmont is being challenged by higher production costs, which will likely weigh on its margins over the near term. Its gold costs applicable to sales rose roughly 13% year over year in 2023. Newmont also saw a 19% surge in all-in-sustaining costs &mdash; the most important cost metric of miners. Both cost metrics increased year over year in the second quarter of 2024. The impacts of increased direct operating costs are leading to cost inflation. Higher materials, labor and contract services costs, despite easing somewhat lately, remain as concerns.
<h2>Newmont&#39;s Earnings Estimates Going Up</h2>
Earnings estimates for NEM have been going up over the past 60 days, reflecting analysts&#39; optimism. The Zacks Consensus Estimate for 2024 and 2025 have been revised upward over the same time frame.&nbsp; 
The Zacks Consensus Estimate for 2024 earnings is currently pegged at $2.82, reflecting an expected year-over-year growth of 75.2%. Earnings are expected to register a roughly 20.6% growth in 2025. NEM has a long-term EPS growth rate of 48.5% versus 28.1% for its industry.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/14/77088.jpg?v=2120108024" style="height:310px; width:600px" />
Image Source: Zacks Investment Research
<h2>NEM&#39;s Valuation: A Bit Stretched But Reasonable</h2>
Newmont is currently trading at a forward 12-month earnings multiple of 15.74X, a roughly 4.9% premium to the industry average of 15X. The valuation looks reasonable, considering the company&#39;s healthy earnings trajectory.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/97/77087.jpg?v=980756600" style="height:310px; width:600px" />
Image Source: Zacks Investment Research
<h2>Newmont Outperforms S&amp;P 500</h2>
Thanks to the rally in gold prices, NEM&#39;s shares have racked up a gain of 22.6% year to date, underperforming the industry&#39;s 24% rise but topping the S&amp;P 500&#39;s rise of 13.3%. Its gold mining peers, Barrick Gold Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gold#NYSE">GOLD</a>), Agnico Eagle Mines Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aem#NYSE">AEM</a>) and Kinross Gold Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kgc#NYSE">KGC</a>), have gained 6.6%, 41.8% and 40.8%, respectively, over the same period.
<h2>NEM&#39;s YTD Price Performance</h2>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/1e/77085.jpg?v=839872447" style="height:310px; width:600px" />
Image Source: Zacks Investment Research
<h2>How Should Investors Play the NEM Stock?</h2>
NEM presents an attractive investment case backed by a robust portfolio of growth projects, solid financial health and bullish technicals. Other positives include a healthy growth trajectory, rising earnings estimates and an attractive dividend yield. Rallying gold prices should also boost NEM&#39;s profitability and drive cash flow generation. Despite the upbeat growth prospects, its high production costs warrant caution. Holding onto this Zacks Rank #3 (Hold) stock will be prudent for investors who already own it.
<a href="https://www.zacks.com/stock/news/2333834/does-newmont-s-25-gain-in-3-months-justify-buying-the-stock-now?cid=CS-BENZ-FT-analyst_blog|most_popular_stocks-2333834">To read this article on Zacks.com click here.</a>

Technicals

Commodities

GOLD

Does Newmont's 25% Gain in 3 Months Justify Buying the Stock Now?

TC Energy shares are trading lower after the company announced delays in an equity interest purchase transaction due to structuring issue within NGTL Partnership.

Safran CEO Says Aerospace Supply Chain Will Remain Under Pressure In 2025; GE Aerospace CEO Says Long Way To Go In Rise Engine Technology Development But Confident In Outcome

Tuesday,&nbsp;Roivant Sciences Ltd.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROIV#NASDAQ">ROIV</a>) created Pulmovant to in-license from Bayer AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BAYRY#OTC">BAYRY</a>) exclusive worldwide rights to develop and <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g40788639/roivant-unveils-new-pipeline-program-mosliciguat-a-potential-first-in-class-and-best-in-category-i" rel="noreferrer noopener">commercialize mosliciguat</a>.
Bayer received an upfront cash payment of ~$14 million, with up to an additional $280 million agreed upon for future development, regulatory, commercial milestone payments, and tiered high-single-digit sales-based royalties.
Mosliciguat is an inhaled, once-daily sGC activator with targeted delivery to the lungs via a dry powder inhaler.
Pulmovant presented data from the proof-of-concept Phase 1b ATMOS study during the European Respiratory Society Congress.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/09/40778228/whats-going-in-with-vivek-ramaswamy-founded-roivant-sciences-stock-on-monday" rel="noreferrer noopener">What&#8217;s Going In With Vivek Ramaswamy-Founded Roivant Sciences Stock On Monday</a>?
The ATMOS Phase 1b trial assessed the efficacy, safety, tolerability, and pharmacokinetics of mosliciguat in participants with pulmonary hypertension aged between 18 and 80. Overall, 38 patients received mosliciguat in this study.
In the per-protocol set of patients (N=20), mosliciguat 1.0, 2.0, and 4.0 mg doses led to mean-max peak reductions in pulmonary vascular resistance&nbsp;(PVR) from baseline of -25.9%, -38.1%, and -36.3%, respectively. The company adds the &#8220;clinically meaningful&#8221; data is &#8220;one of the highest reductions seen in PH trials to date.&#8221;
The company highlights that mosliciguat is unlike other inhaled PH therapies. It requires one inhalation a day, whereas other PH therapies require multiple inhalations at various points during the day.
&#8220;We are impressed with the data generated so far, particularly the PVR results, and we believe its differentiated mechanism as an sGC activator can have maximal impact on PH-ILD patients, a large population with severe disease, high morbidity and mortality, and few treatment options,&#8221; said Matt Gline, Roivant&#8217;s CEO.
Notably, a similar effect on PVR was observed in the pharmacodynamic analysis set (N=37), which included both responsive and non-responsive participants to inhaled nitric oxide (NO).
Pulmovant will advance the clinical program to assess mosliciguat in its global Phase 2 PHocus study in patients with PH-ILD, a subgroup of Group 3 PH.
Approximately 120 patients will be enrolled in the study, starting imminently.
Price Action: ROIV stock is down 1.88% at $12.27 at the last check on Tuesday.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/09/40796889/lockheed-martin-tata-expand-c-130j-partnership-to-boost-indias-defense-capabilities" target="_blank" rel="noreferrer noopener">Lockheed Martin, Tata Expand C-130J Partnership To Boost India&#8217;s Defense Capabilities</a>.</li>
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Biotech

Health Care

Contracts

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Roivant Sciences Unveils New 'Vant' Subsidiary For In-Licensed Pulmonary Hypertension Drug From Bayer

U.S. stocks traded mixed toward the end of trading, with the Nasdaq Composite gaining over 100 points on Tuesday.
The Dow traded down 0.39% to 40,671.23 while the NASDAQ rose 0.68% to 16,999.00. The S&amp;P 500 also rose, gaining, 0.24% to 5,484.05.
Check This Out:<a href="https://www.benzinga.com/news/24/09/40790502/wall-streets-most-accurate-analysts-weigh-in-on-3-tech-stocks-delivering-high-dividend-yields"> Wall Street&#8217;s Most Accurate Analysts Weigh In On 3 Tech Stocks Delivering High-Dividend Yields</a>
Leading and Lagging Sectors Real estate shares surged by 0.9% on Tuesday.
In trading on Tuesday, energy shares fell by 2%.
Top Headline
WTI crude oil futures dipped more than 4% during Tuesday's session after OPEC slashed its demand projections for the second time in two months.
OPEC said it now sees global oil demand increasing by 2 million barrels per day in 2024, down 80,000 bpd from its prior outlook.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>BIO-key International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKYI#NASDAQ">BKYI</a>) shares shot up 120% to $2.2850 after the company announced it was rewarded $500K in new orders from a government defense ministry.</li>
<li>Shares of Mission Produce, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVO#NASDAQ">AVO</a>) got a boost, surging 21% to $12.92 after the company reported better-than-expected third-quarter financial results.</li>
<li>Avid Bioservices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDMO#NASDAQ">CDMO</a>) shares were also up, gaining 17% to $10.51 following a narrower-than-expected quarterly loss.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Edgio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EGIO#NASDAQ">EGIO</a>) shares dropped 32% to $0.8362. Edgio shares tumbled on Monday after the company filed for Chapter 11 relief. The company entered into a stalking horse asset purchase agreement with Lynrock.</li>
<li>Shares of Cognyte Software Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGNT#NASDAQ">CGNT</a>) were down 14% to $6.41 following second-quarter results.</li>
<li>Alimera Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALIM#NASDAQ">ALIM</a>) was down, falling 18% to $4.5650 after the company announced it filed a lawsuit against ANI Pharmaceuticals to fulfill its contractual obligation for the merger agreement.</li>
</ul>
Commodities In commodity news, oil traded down 4.4% to $65.71 while gold traded up 0.4% at $2,541.90.
Silver traded down 0.3% to $28.56 on Tuesday, while copper fell 1.3% to $4.0920.
Euro zone
European shares closed lower today. The eurozone's STOXX 600 fell 0.54%, Germany's DAX declined 0.96% and France's CAC 40 fell 0.24%. Spain's IBEX 35 Index fell 0.61%, while London's FTSE 100 fell 0.78%.
Regular pay in the UK, excluding bonuses, rose 5.1% year-over-year to GBP 647/week in the three months to July, while UK's unemployment rate declined to 4.1% from May to July.
Industrial production in Italy declined by 0.9% month-over-month in July compared to a 0.5% gain in June. Spain&#8217;s industrial output declined by 0.4% year-over-year in July. The annual inflation rate in Germany eased to 1.9% in August from 2.3% in the prior month.
Asia Pacific Markets
Asian markets closed mostly higher on Tuesday, with Japan's Nikkei 225 falling 0.16%, Hong Kong's Hang Seng Index gaining 0.22%, China's Shanghai Composite Index gaining 0.28% and India's BSE Sensex gaining 0.44%.
Japan's machine tool orders fell 3.5% year-over-year to JPY 110,771 million for August. China&#8217;s trade surplus widened to $91.02 billion in August from $67.81 billion in the year-ago period.
Economics
The NFIB Small Business Optimism Index fell to 91.2 in August, recording the weakest reading in three months, and versus July's reading of 93.7.
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