Porter Holding Intl (OTC:ULNV) Stock, Quote.Headers.trade-ideas

Porter Holding International Inc focuses its business as an O2O (Online to Offline) business platform operator covering both online E-commerce and offline commercial chain entity of three-dimensional synchronous operation together with integrated comprehensive services for merchant clients, service income from organizing and delivering an event and forum, and third-party payment service. The company also provides investment and corporate management consulting services to its clients.

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Rep. Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, is pushing for a &#8220;grand bargain&#8221; on stablecoin legislation before the end of the year, aiming to resolve two years of debates in Washington over the <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40946534/stablecoins-like-tether-becoming-systemically-important-bernstein">regulatory framework for stablecoins</a>.
What Happened: Waters, alongside Rep. Patrick McHenry (R-N.C.), the Republican chair of the committee, has been working since 2022 on legislation that would establish clear guidelines for stablecoin issuance and regulation, The Block <a href="https://www.theblock.co/post/317899/rep-maxine-waters-calls-for-grand-bargain-on-stablecoins-before-the-end-of-2024-following-years-of-negotiations?utm_source=twitter&amp;utm_medium=social">reported</a>.
While the bill advanced out of the Republican-led committee last year, it has struggled to gain broader support. 
Waters previously described the bill as &#8220;deeply problematic&#8221; due to a provision that allows state regulators to approve stablecoin issuances without involvement from the Federal Reserve.
During a House Financial Services Committee hearing on Tuesday, Waters expressed her optimism about reaching an agreement that balances consumer protection with federal oversight. 
"Mr. Chairman, before the end of this year, I want us to strike a grand bargain on stablecoins and other long overdue bills,&#8221; Waters said, noting that both sides have made significant concessions in the negotiation process.
She emphasized that the legislation must ensure that stablecoins are backed by secure reserves, such as short-term Treasury bills, to ensure their stability. 
&#8220;The Federal Reserve needs to have a dominant role,&#8221; Waters added, stressing the importance of federal involvement similar to other countries&#8217; approaches.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41008797/core-emerges-as-leading-bitcoin-sidechain-by-total-value-locked">Core Emerges As Leading Bitcoin Sidechain By Total Value Locked</a>
Waters also extended a challenge to her Republican colleague, saying, "I've made a public statement to you about bipartisanship — let's see what you do with it."
McHenry, who has been leading efforts on digital asset regulation, echoed his support for stablecoin legislation and stressed the need for broader clarity on digital assets. 
He also expressed hope that his separate crypto market structure bill, FIT21, could gain momentum by the end of the year, especially as his retirement in January looms.
With time running out for legislative action in Congress this year, pressure is mounting to finalize a stablecoin regulatory framework. 
The stakes are particularly high as the committee continues to discuss key digital asset issues, with all five commissioners of the U.S. Securities and Exchange Commission (SEC), including Chair Gary Gensler, testifying at the Tuesday hearing. 
Lawmakers grilled the commissioners on the SEC&#8217;s approach to digital assets, rulemaking, and oversight.
What&#8217;s Next: These discussions, along with the future of stablecoin regulation, will be central topics at the upcoming Benzinga <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41007125/caitlin-long-says-progressives-are-actually-big-bank-corporatists-as-republican-lawmakers-">Caitlin Long Says &#8216;Progressives Are Actually Big-Bank Corporatists&#8217; As Republican Lawmakers Urge SEC To Repeal Crypto Accounting Rule</a></li>
</ul>
Image: Shutterstock

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

Cryptocurrency

Maxine Waters Says It's Time For 'A Grand Bargain' On Stablecoin Legislation Before Year's End

The ongoing threat of labor<a href="https://www.benzinga.com/news/24/09/40906726/us-port-strike-in-october-could-lead-to-major-supply-chain-disruptions-says-container-trade-expert"> strikes at U.S. ports</a>, typhoons in China and China&#8217;s upcoming seven-day National Golden Week holiday are set to disrupt the flow of containerized goods from China to the U.S., according to a container trade expert.
&#8220;Our regular surveys indicate that demand for U.S.-bound shipments from China remains strong, especially with Golden Week looming,&#8221; said Christian Roeloffs, CEO of Hamburg-based online container market platform Container xChange.
&#8220;Golden Week, starting Oct. 1, traditionally causes a temporary slowdown in logistics activities across China, with a noticeable dip lasting between seven and 10 days.&#8221;
&#8220;With these events in combination — the U.S. labor strikes, upcoming Golden Week, and port suspensions — the China-to-U.S. shipping route is set to be volatile and uncertain over the next 20 days,&#8221; Roeloffs added.
Chinese factories shut down during National Day Golden Week as its citizens celebrate the founding of the People&#8217;s Republic of China.
He noted that an anticipated strike by the International Longshoremen&#8217;s Association, which represents 85,000 dockworkers at 12 ports along the East and Gulf coasts, is prompting traders to accelerate their order schedules to avoid disruptions before the strike on Oct. 1.
Read Also: <a href="https://www.benzinga.com/government/24/09/40713418/retailers-plea-for-deal-us-ports-union-start-two-day-talk-in-effort-to-prevent-disruptive-strike">Retailers Plea For Deal: US Ports, Union Start Two-Day Talk In Effort To Prevent Disruptive Strike</a>
Last week, China faced its worst typhoon in 75 years, which made landfall on the east coast. According to container liner Hapag-Lloyd, the storm has caused delays of up to 60 hours at ports in Shanghai and up to 48 hours at ports in Ningbo. Another typhoon is also headed toward the region.
&#8220;This bottleneck is expected to worsen as Typhoon Pulasan approaches, potentially exacerbating the already strained situation,&#8221; Roeloffs said. &#8220;Several ports in Ningbo and Shanghai have announced the suspension of container operations.&#8221;
He added that these adverse conditions have not caused port congestion at Chinese ports due to trade volume declining in a tougher economic environment.
&#8220;At present, securing containers is not an issue, though this may change as market conditions evolve,&#8221; he said.
Price Action: A disruption of China&#8217;s exports to the U.S. will impact numerous sectors in the U.S. because they rely heavily on China for the products they need.
Retail, automotive, and semiconductor companies saw gains and losses in Tuesday&#8217;s early-afternoon trading.
Retail
<ul>
<li>Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) rose 0.35% to $80.61.</li>
<li>Amazon Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) declined 0.58% to $192.76.</li>
<li>Loews Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/L#NYSE">L</a>) slipped 0.32% to $78.42.</li>
</ul>
Automotive
<ul>
<li>Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) fell 0.37% to $10.87.</li>
<li>General Motors Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) declined 0.42% to $47.84.</li>
<li>Stellantis N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) rose 0.55% to $15.53.</li>
</ul>
Semiconductors
<ul>
<li>Taiwan Semiconductor Manufacturing Co. Ltd. NYSE: TSM)  went up 3.42% to $180.74.</li>
<li>Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) rose 0.91% to $174.51.</li>
<li>Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) rose 1.14% to $167.85.</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/global/24/08/40497103/strikes-at-us-ports-canadas-railways-may-cause-container-freight-rate-volatility">Strikes At US Ports, Canada&#8217;s Railways May Cause Container Freight Rate Volatility</a></li>
</ul>
Photo: ambient_pix/Shutterstock.com

Asia

Global

AMZN

AVGO

QCOM

STLA

China's Exports At Risk From Anticipated US Port Strikes, Typhoons, Golden Week, Warns Container Trade Expert

As Pennsylvania inches <a href="https://www.benzinga.com/markets/cannabis/24/09/40909516/pennsylvania-isnt-giving-up-on-recreational-cannabis-optimism-rises-as-lawmakers-reintroduce-gov">closer to legalizing</a> recreational cannabis, Philadelphia entrepreneurs and advocates are seizing the opportunity to ensure social equity in the emerging industry. <a href="https://www.blackcannabisweek.com/">Black Cannabis Week</a> is at the forefront of this movement, which launched in 2018 to educate Black and Latino communities about benefits and opportunities in the cannabis sector. 
Initially focused on <a href="https://www.benzinga.com/topic/medical-cannabis">medical marijuana</a>, the event has evolved to discuss the potential of <a href="https://www.benzinga.com/topic/recreational-cannabis">adult-use cannabis</a> legalization in Pennsylvania as well as demands for <a href="https://www.benzinga.com/topic/social-equity">equitable legislation and social justice</a> reforms.
"We are demanding social justice, demanding equitable legislation, which is something we did not have for our medical marijuana program," said Cherron Perry-Thomas, co-founder of Black Cannabis Week, <a href="https://whyy.org/articles/black-cannabis-week-philadelphia-entrepeneurs-social-justice-recreational-marijuana/">reported</a> the local NPR station WHYY. The event seeks to empower local entrepreneurs, particularly those from communities disproportionately impacted by past marijuana laws, and to help them prepare for the potential opportunities in a legalized adult-use market.
<h3 class="wp-block-heading">Empowering Communities Through Education And Advocacy</h3>
The week-long event features a range of activities, including policy discussions, job fairs, a film festival, even a fashion show with the focus is on making the cannabis industry more inclusive. Kristal Bush, a lead organizer, emphasized that the format is more interactive than traditional conferences, with events designed to engage and educate attendees in innovative ways.
The push for social equity in cannabis goes beyond just creating opportunities for new businesses. Organizers are also advocating for legal reforms to help individuals with prior marijuana convictions, who are often excluded from the industry. "We think this is a civil rights issue," Perry-Thomas explained, adding that the industry's growth could offer one of the last chances for communities harmed by the War on Drugs to gain justice and economic empowerment.
<h3 class="wp-block-heading">Potential Of Pennsylvania&#8217;s Adult-Use Market</h3>
According to <a href="http://www.ifo.state.pa.us/download.cfm?file=Resources/Documents/Revenue_Proposal_Analysis_2024_03.pdf">estimates</a> from the Pennsylvania Independent Fiscal Office, if adult-use cannabis is legalized in PA, the state could generate between $400 million and $1 billion in tax revenue. However, advocates argue that without equitable laws in place, much of this wealth could bypass communities of color, who were disproportionately affected by past marijuana criminalization. Organizers of Black Cannabis Week are working to ensure that this doesn't happen, advocating for laws that support local, minority-owned businesses and expungement programs for past marijuana convictions.
Cover image made with AI

Cannabis

Regulations

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Black Cannabis Week: Philly Entrepreneurs Ignite Social Justice Movement Around PA's Marijuana Laws

Chief District Judge Thomas Kleeh <a href="https://www.courtlistener.com/docket/68435952/in-re-aflibercept-patent-litigation/?filed_after=&amp;filed_before=&amp;entry_gte=&amp;entry_lte=&amp;order_by=desc#entry-343">denied</a> Regeneron Pharmaceuticals, Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>) effort to prevent the sale of Amgen Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) Eylea biosimilar.
Regeneron filed a notice of its appeal to the U.S. Court of Appeals for the Federal Circuit.
The <a target="_blank" href="https://www.bloomberglaw.com/public/desktop/document/InReAfliberceptPatentLitigationDocketNo124md03103NDWVaApr112024Co/9?doc_id=X5Q74042K7G9TGAR2GDOLU0DNF6" rel="noreferrer noopener">appeal </a>is from the Order issued on September 23, 2024, which denied Regeneron&#8217;s request for a preliminary injunction, along with any related orders, decisions, rulings, findings, or conclusions connected to that Order.
Reuters highlighted that an Amgen spokesperson expressed the company&#8217;s satisfaction with the decision. Amgen will reveal the timeline for launching its biosimilar Pavblu &#8220;in due course.&#8221;
Regeneron sued Amgen in January, alleging that it was developing a biosimilar that violated key patent protections for Eylea. The lawsuit claims the infringement of over 30 patents, which the pharma claims will &#8220;irreparably&#8221; harm its business if Amgen is not &#8220;enjoined&#8221; from violating these protections.
The lawsuit also <a target="_blank" href="https://fingfx.thomsonreuters.com/gfx/legaldocs/egpbakxeavq/REGENERON%20AMGEN%20LAWSUIT%20complaint.pdf" rel="noreferrer noopener">notes</a>, &#8220;Amgen&#8217;s commercial manufacture, use, offer for sale, and/or sale within the United States, or importation into the United States, of ABP 938 before the expiration of the '106 patent will cause Regeneron injury, entitling Regeneron to damages and/or other monetary relief.&#8221;
In October 2023, Amgen said the FDA <a target="_blank" href="https://investors.amgen.com/news-releases/news-release-details/amgen-reports-third-quarter-financial-results" rel="noreferrer noopener">accepted</a> its abbreviated Biologics Drug Application for ABP 938, a biosimilar copy of Eylea.
Stat News <a target="_blank" href="https://www.statnews.com/2024/09/24/regeneron-eylea-biosimilar-amgen-fight-heats-up/" rel="noreferrer noopener">noted</a> that the judge&#8217;s decision came as a surprise, given that this same judge had previously approved Regeneron&#8217;s requests for injunctions against other pharmaceutical companies attempting to release Eylea biosimilars.
In December, a court ruling found that Viatris Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VTRS#NASDAQ">VTRS</a>) replica of Regeneron&#8217;s Eylea <a href="https://www.benzinga.com/general/biotech/23/12/36408741/regeneron-celebrates-legal-win-court-upholds-eylea-medication-patent" target="_blank" rel="noreferrer noopener">violated patent rights</a>.
Price Action: REGN stock is down 6% at $1,025.44 at last check Tuesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/09/41010674/diamondback-energy-kinetik-strengthen-stake-in-epic-crude-with-new-deal-and-long-term-commitment" target="_blank" rel="noreferrer noopener">Diamondback Energy, Kinetik Strengthen Stake In EPIC Crude With New Deal And Long-Term Commitments</a>.</li>
</ul>

Biotech

Large Cap

Health Care

Legal

AMGN

REGN

VTRS

Why Is Regeneron Pharmaceuticals Stock Trading Lower On Tuesday?

In a recent interview with Anthony Scaramucci, crypto analyst Noelle Acheson offered insights on the interplay between macroeconomics and cryptocurrency, highlighting Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) potential as a hedge <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39866338/bitcoin-as-a-strategic-reserve-asset-for-the-us-expert-details-how-trump-could-make-it-hap">against economic instability</a>.
What Happened: In an <a href="https://www.youtube.com/watch?v=i5iKqs26Mkg&amp;t=871s">episode</a> of Wealthion, Acheson views Bitcoin and gold as safeguards against currency debasement and political turmoil. 
She emphasized to Scaramucci, who will be a headline speaker at Benzinga's upcoming <a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a> event on Nov. 19,  that currency debasement leads to widening inequality, which leads to greater polarization. 
Acheson stated that despite all the political instability, gold has still managed to peak at all-time highs. This sends a message to investors that bitcoin has still not reached its peak and can do so but currently remains impacted by legal irregularities, and political concerns in the crypto sector.
She suggests that bitcoin and gold remain the two best options for investments in such an environment.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></a></figure>
On Bitcoin&#8217;s future price, Acheson remained cautiously optimistic, noting that a rise to $100,000 by year-end is "not out of the question," though she stressed the difficulty of precise predictions. She said that for this prediction, it will have to move higher by 0.45% daily.
She links the price prediction to the supply factor, comparing it to gold whose scarcity in supply can be met by alternate methods of production if prices reach $100,000. However, this is not the case with Bitcoin.
Looking ahead, Acheson expressed concerns about a potential economic slowdown, warning, "This is heading into that dreaded word stagflation which is not off the table for next year."
What&#8217;s Next: The influence of&nbsp;<a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment" target="_blank" rel="noreferrer noopener">Bitcoin as an institutional asset class</a>&nbsp;is expected to be thoroughly explored at Benzinga&#8217;s upcoming&nbsp;<a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a>&nbsp;event on Nov. 19.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40858231/bitcoin-decouples-from-gold-investors-leaning-towards-traditional-safe-haven-assets-crypto">Bitcoin Decouples From Gold: &#8216;Investors Leaning Towards Traditional Safe-Haven Assets,&#8217; CryptoQuant Signals</a></li>
</ul>
Image: Shutterstock

$BTC

Crypto Expert Tells Anthony Scaramucci That Gold And Bitcoin Are Safeguards Against Currency Debasement

AAPL

Apple Retail Workers In Oklahoma City Win First Collective Contract With CWA

In a social media post today, billionaire and Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Chief <a target="_blank" href="https://www.benzinga.com/topic/elon-musk" rel="noreferrer noopener">Elon Musk</a><a target="_blank" href="https://www.benzinga.com/topic/elon-musk" rel="noreferrer noopener"> </a>revealed that his companies are set to invest in Argentina, signaling strong <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40996498/elon-musk-cries-foul-over-governments-preferential-treatment-for-rival-companies-success-of-spac" rel="noreferrer noopener">support for the nation&#8217;s growth.</a>
&#8220;My companies are actively looking for ways to invest in and support Argentina,&#8221; Musk <a target="_blank" href="https://x.com/elonmusk/status/1838562127776252269?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1838562127776252269%7Ctwgr%5Ea1568a8ba8470afdfa956791695c1ecd0aa957e2%7Ctwcon%5Es1_c10&amp;ref_url=https%3A%2F%2Fwww.teslarati.com%2Felon-musk-companies-invest-argentina%2F" rel="noreferrer noopener">posted</a> on X, formerly Twitter.
According to the Harvard International Review, Chile, Argentina, and Bolivia—together referred to as the &#8220;<a target="_blank" href="https://hir.harvard.edu/lithium-triangle/" rel="noreferrer noopener">Lithium Triangle</a>&#8220;—hold&nbsp;more than 75%&nbsp;of the world&#8217;s supply beneath their salt flats. Lithium is a <a target="_blank" href="https://www.benzinga.com/trading-ideas/long-ideas/23/07/33443954/as-electric-vehicle-transition-charges-higher-this-etf-tracks-lithium-a-critical-battery" rel="noreferrer noopener">critical component&nbsp;in electric vehicle batteries</a>.
Musk&#8217;s post drew a response from the Argentine President Javier Milei, who <a target="_blank" href="https://x.com/JMilei/status/1838578005326659647?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1838578005326659647%7Ctwgr%5E23b601f289ac6fb39f71008abdf2dfdff4f76874%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.teslarati.com%2Felon-musk-companies-invest-argentina%2F" rel="noreferrer noopener">shared</a> the Tesla and SpaceX CEO&#8217;s post again.
Not to forget, Musk has previously expressed admiration for Argentine President Javier Milei&#8216;s libertarian policies and his strong support for private enterprise, reported Reuters. In April, the billionaire welcomed Milei to a Tesla factory in Austin, Texas.
Also Read:<a target="_blank" href="https://www.benzinga.com/news/24/04/38176265/elon-musk-said-to-be-in-talks-with-indias-richest-man-to-help-take-tesla-to-india" rel="noreferrer noopener"> Elon Musk Said To Be In Talks With India&#8217;s Richest Man To Help Establish Tesla Factory</a>
According to a <a target="_blank" href="https://www.statista.com/outlook/mmo/electric-vehicles/argentina" rel="noreferrer noopener">report</a> from Statista, Argentina is poised for substantial growth in the electric vehicle market, with a projected revenue of $22.2 million by 2024. This growth is anticipated to be fueled by an annual growth rate of 10.62% from 2024 to 2029, leading to an estimated market volume of $36.7 million by 2029.
If it materializes, Musk&#8217;s investment in Argentina may catalyze this growth, potentially accelerating the development of the electric vehicle market and enhancing infrastructure, innovation, and consumer adoption in the country.
Price Action: TSLA shares are trading higher by 0.93% to $252.36 at the last check on Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/asia/24/09/41003814/chinese-stocks-jump-as-central-bank-unveils-major-stimulus-to-spur-economy-a-step-in-the-right-direc" target="_blank" rel="noreferrer noopener">Chinese Stocks Jump As Central Bank Unveils Major Stimulus To Spur Economy: &#8216;A Step In The Right Direction&#8217;</a></li>
</ul>
Image via Shutterstock

Equities

Emerging Markets

Tech

TSLA

Musk Eyes Argentina's EV Space - 'Looking For Ways To Invest In And Support Argentina'

JPMorgan (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jpm#NYSE">JPM</a>) intends to grow its corporate banking team across Asia next year to capitalize on increasing business prospects from intra-Asia trades, the innovation economy and payment services. This was stated by Oliver Brinkmann, Asia-Pacific co-head of global corporate banking at the company, in an interview with South China Morning Post.
<h2>Details About JPM&#39;s Strategic Expansion</h2>
Brinkmann said, &quot;We aim to add 10 percent headcount to the corporate banking team across Asia next year.&quot;
The increased headcount will be dispersed across the team&#39;s four divisions: large-cap, mid-cap, innovation economy and subsidiary banking.
In subsidiary banking, the majority of the new talent will be allocated to Southeast Asia and India, while in local corporate banking, additional headcount will be focusing on North Asia, Greater China, Japan, India and Australia, according to Brinkmann.
<h2>JPMorgan&#39;s Rationale Behind This Move</h2>
According to Kerwin Clayton, Asia-Pacific co-head of global corporate banking at JPMorgan, this move aims to enhance the company&#39;s client base by offering a comprehensive set of wholesale banking products and solutions to clients of all magnitudes.
Brinkmann further added, &quot;The velocity of investments has changed. There&#39;s also much more focus on building out a home-based, Asian business for many of the Asian corporates.&quot; Consequently, the bank is investing its resources via broader subsidiary banking and country-specific desks to tap into emerging growth economies such as Korea, Japan, India and China.
The innovation economy has been a key element in JPMorgan&#39;s strategy in the Asia region, which is home to more than 500 unicorns &mdash; start-ups with a valuation of more than $1 billion.
The contribution to the global banking industry by these fast-growing newer firms is meaningful and rising. Thus, establishing relationships with them at an early developmental stage is quite crucial, as per Clayton.
Further, JPM&#39;s corporate banking payment business is another growth driver, which is about to generate $20 billion in revenues globally for the bank, per Brinkmann. &quot;Large corporates in Asia-Pacific hold about US$8 trillion of cash equivalent, and we can offer secure payment ecosystems for global business operations&quot;, he stated.
JPMorgan is using its innovation hub in Singapore to enhance these services. The hub includes a global cybersecurity center and the blockchain platform Onyx to streamline payment processes.
<h2>JPM&#39;s Zacks Rank &amp; Price Performance</h2>
Year to date, shares of JPM have risen 24.3% compared with the industry&#39;s rise of 20.4%.&nbsp;
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/2d/78980.jpg?v=1986766226" />
Image Source: Zacks Investment Research
Currently, JPM carries a Zacks Rank #3 (Hold).
<h2>Restructuring Initiatives by Other Banks</h2>
Earlier this month, Columbia Banking System, Inc.&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/colb#NASDAQ">COLB</a>) subsidiary, Umpqua Bank, announced expansion across the Western region with new branches opening in Phoenix, Scottsdale and Mesa by the end of 2024.
Arizona has several fast-growing sectors, including semiconductors, leisure and hospitality alternative energy, healthcare, warehouse distribution centers and data centers. It also hosts a growing number of data centers, serving as a foundation for the emerging generative AI industry. This positions the region as an ideal location for COLB&#39;s long-term expansion strategy.
Similarly, The Bank of New York Mellon Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bk#NYSE">BK</a>) announced its plans to launch Alts Bridge, an extensive data, software, and services solution. It will cater to rising demand from wealth intermediaries seeking simplified access to alternative and private market investment products via simplified end-to-end investment experience.
This BNY platform has been designed to integrate seamlessly into intermediaries&#39; existing desktops, starting with BNY Pershing X&#39;s Wove advisory platform and NetX360+, incorporating cutting-edge AI and analytics tools to mitigate manual processing and error rates.
It offers a powerful solution to investors, advisors and the home office by providing access to a curated, extensive suite of leading alternative and private asset managers worldwide.
<a href="https://www.zacks.com/stock/news/2340629/jpmorgan-to-increase-headcount-in-corporate-banking-across-asia?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2340629">To read this article on Zacks.com click here.</a>

Mid Cap

Offerings

Events

Analyst Ratings

COLB

JPMorgan to Increase Headcount in Corporate Banking Across Asia

Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) shares, among other metal and mining stocks, are moving higher Tuesday after China Central Bank announced a <a href="https://www.benzinga.com/markets/asia/24/09/41007724/gold-breaks-records-on-chinas-policy-stimulus-mining-metal-stocks-exhibit-strongest-1-day-rally-in-2">new stimulus package.</a>
What Happened: The stimulus package includes cutting the reserve requirement ratio (RRR) by .5 percentage points and lowering both the loan prime rate and deposit rates by 0.2 to 0.25 percentage points.
In addition, the central bank cut the seven-day reverse repurchase rate to 1.5% and lowered the minimum down-payment ratio to 15%. The announcement of these economic measures comes amid a slowdown in China&#8217;s markets and could help support investment and support metals demand. 
Larry Hu, head of China economics at Macquarie Group Limited, told Bloomberg, "The purpose of today's briefing is to inject confidence into the market, judging by the fact that the authorities revealed measures in one go. The stimulus push will still need coordination from other policies — particularly follow-up policies from the fiscal side.&#8221;
Other copper related stocks that are trading higher following the bank&#8217;s announcement include Hudbay Minerals Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HBM#NYSE">HBM</a>) and Rio Tinto Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>).
How To Buy Freeport-McMoRan Shares
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 Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>)'s case, it is in the Materials 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.
Related Link: <a href="https://www.benzinga.com/markets/equities/24/09/41010971/kbr-lands-113m-air-force-deal-to-drive-next-gen-refueling-systems-and-cybersecurity-innovation">KBR Lands $113M Air Force Deal To Drive Next-Gen Refueling Systems And Cybersecurity Innovation</a>
FCX Price Action: At the time of publication, Freeport-McMoRan shares are trading 7.72% higher at $48.63, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: Photo via Shutterstock

What's Going On With Freeport-McMoRan Shares Tuesday?

Rumors

Watching Shares Of TriMas; Shares See Volume As Traders Circulate Unconfirmed Rumors The Company Has Received Takeover Interest

NUZE

Nuzee Shares Resume Trade

Investors with a lot of money to spend have taken a bullish stance on Lumen Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUMN#NYSE">LUMN</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with LUMN, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 14 uncommon options trades for Lumen Technologies.
This isn't normal.
The overall sentiment of these big-money traders is split between 57% bullish and 35%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $1,455,433, and 7 are calls, for a total amount of $346,079.
<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 $0.5 to $10.0 for Lumen Technologies over the last 3 months. 
<h3>Insights into Volume &amp; Open Interest</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Lumen Technologies's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Lumen Technologies's substantial trades, within a strike price spectrum from $0.5 to $10.0 over the preceding 30 days.
<h3>Lumen Technologies 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727201764_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>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>LUMN</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/18/26</td>
<td>$1.29</td>
<td>$0.95</td>
<td>$1.19</td>
<td>$4.00</td>
<td>$1.1M</td>
<td>5.3K</td>
<td>10.0K</td>
</tr>
<tr>
<td>LUMN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$0.69</td>
<td>$0.68</td>
<td>$0.69</td>
<td>$6.00</td>
<td>$73.4K</td>
<td>7.8K</td>
<td>1.6K</td>
</tr>
<tr>
<td>LUMN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$0.92</td>
<td>$0.9</td>
<td>$0.9</td>
<td>$8.00</td>
<td>$70.0K</td>
<td>66</td>
<td>778</td>
</tr>
<tr>
<td>LUMN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$7.0</td>
<td>$6.95</td>
<td>$7.0</td>
<td>$0.50</td>
<td>$70.0K</td>
<td>744</td>
<td>100</td>
</tr>
<tr>
<td>LUMN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$0.96</td>
<td>$0.93</td>
<td>$0.93</td>
<td>$9.00</td>
<td>$60.4K</td>
<td>1.2K</td>
<td>767</td>
</tr>
</tbody>
</table>

<h3>About Lumen Technologies</h3>
With 450,000 route miles of fiber, Lumen Technologies is one of the United States' largest telecommunications carriers serving global enterprises. Its merger with Level 3 in 2017 and divestiture of much of its incumbent local exchange carrier, or ILEC, business in 2022 has shifted the company's operations away from its legacy consumer business and toward enterprises (now about 75% of revenue). Lumen offers businesses a full menu of communications services, providing colocation and data center services, data transportation, and end-user phone and internet service. On the consumer side, Lumen provides broadband and phone service across 37 states, where it has 4.5 million broadband customers.
<h3>Current Position of Lumen Technologies</h3>
<ul>
<li>With a volume of 13,967,561, the price of LUMN is down -0.41% at $7.25. </li>
<li>RSI indicators hint that the underlying stock may be overbought.</li>
<li>Next earnings are expected to be released in 35 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 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 Lumen Technologies options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

LUMN

Unpacking the Latest Options Trading Trends in Lumen Technologies

Investors with a lot of money to spend have taken a bullish stance on Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with DVN, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 10 uncommon options trades for Devon Energy.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 30%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $214,767, and 5 are calls, for a total amount of $151,467.
<h3>Expected Price Movements</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $35.0 to $55.0 for Devon Energy over the recent three months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Devon Energy's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Devon Energy's substantial trades, within a strike price spectrum from $35.0 to $55.0 over the preceding 30 days.
<h3>Devon Energy 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727201759_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</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>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>DVN</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$13.55</td>
<td>$13.35</td>
<td>$13.35</td>
<td>$55.00</td>
<td>$66.7K</td>
<td>0</td>
<td style="text-align: right;">50</td>
</tr>
<tr>
<td>DVN</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>04/17/25</td>
<td>$4.55</td>
<td>$4.35</td>
<td>$4.35</td>
<td>$42.50</td>
<td>$43.9K</td>
<td>190</td>
<td style="text-align: right;">204</td>
</tr>
<tr>
<td>DVN</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>04/17/25</td>
<td>$4.35</td>
<td>$4.3</td>
<td>$4.3</td>
<td>$42.50</td>
<td>$43.4K</td>
<td>190</td>
<td style="text-align: right;">102</td>
</tr>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/27/24</td>
<td>$0.98</td>
<td>$0.93</td>
<td>$0.93</td>
<td>$40.50</td>
<td>$34.8K</td>
<td>1.0K</td>
<td style="text-align: right;">536</td>
</tr>
<tr>
<td>DVN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/04/24</td>
<td>$0.91</td>
<td>$0.9</td>
<td>$0.9</td>
<td>$41.50</td>
<td>$34.5K</td>
<td>77</td>
<td style="text-align: right;">390</td>
</tr>
</tbody>
</table>

<h3>About Devon Energy</h3>
Devon Energy is an oil and gas producer with acreage in several top US shale plays. While roughly two thirds of its production comes from the Permian Basin, it also holds a meaningful presence in the Anadarko, Eagle Ford, and Bakken basins. At the end of 2023, Devon reported net proved reserves of 1.8 billion barrels of oil equivalent. Net production averaged roughly 658,000 barrels of oil equivalent per day in 2023 at a ratio of 73% oil and natural gas liquids and 27% natural gas.
Having examined the options trading patterns of Devon Energy, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Present Market Standing of Devon Energy</h3>
<ul>
<li>Currently trading with a volume of 3,785,936, the DVN's price is down by -0.12%, now at $41.07. </li>
<li>RSI readings suggest the stock is currently may be approaching oversold.</li>
<li>Anticipated earnings release is in 42 days.</li>
</ul>
<h3>Professional Analyst Ratings for Devon Energy</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $53.8.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Morgan Stanley persists with their Overweight rating on Devon Energy, maintaining a target price of $51. 
&#x2A; An analyst from Susquehanna has decided to maintain their Positive rating on Devon Energy, which currently sits at a price target of $63. 
&#x2A; An analyst from UBS has decided to maintain their Neutral rating on Devon Energy, which currently sits at a price target of $47. 
&#x2A; An analyst from JP Morgan persists with their Overweight rating on Devon Energy, maintaining a target price of $51. 
&#x2A; In a cautious move, an analyst from RBC Capital downgraded its rating to Sector Perform, setting a price target of $57. 
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 Devon Energy options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Market Whales and Their Recent Bets on DVN Options

Investors with a lot of money to spend have taken a bullish stance on United Airlines Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>).
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with UAL, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for United Airlines Holdings.
This isn't normal.
The overall sentiment of these big-money traders is split between 80% bullish and 10%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $25,000, and 9, calls, for a total amount of $872,007.
<h3>Predicted Price Range</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $45.0 and $57.5 for United Airlines Holdings, spanning the last three months.
<h3>Volume &amp; Open Interest Trends</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for United Airlines Holdings'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 United Airlines Holdings's whale trades within a strike price range from $45.0 to $57.5 in the last 30 days. 
<h3>United Airlines Holdings 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727201754_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</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>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>UAL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$5.35</td>
<td>$5.2</td>
<td>$5.34</td>
<td>$50.00</td>
<td>$267.4K</td>
<td>6.0K</td>
<td>336</td>
</tr>
<tr>
<td>UAL</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>11/15/24</td>
<td>$5.35</td>
<td>$5.25</td>
<td>$5.3</td>
<td>$50.00</td>
<td>$265.0K</td>
<td>6.0K</td>
<td>1.3K</td>
</tr>
<tr>
<td>UAL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$5.45</td>
<td>$5.2</td>
<td>$5.37</td>
<td>$50.00</td>
<td>$161.1K</td>
<td>6.0K</td>
<td>300</td>
</tr>
<tr>
<td>UAL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$3.2</td>
<td>$3.1</td>
<td>$3.17</td>
<td>$57.50</td>
<td>$31.7K</td>
<td>3.2K</td>
<td>100</td>
</tr>
<tr>
<td>UAL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$9.55</td>
<td>$9.45</td>
<td>$9.5</td>
<td>$45.00</td>
<td>$31.3K</td>
<td>15.6K</td>
<td>156</td>
</tr>
</tbody>
</table>

<h3>About United Airlines Holdings</h3>
United Airlines is a major us network carrier with hubs in San Francisco, Chicago, Houston, Denver, Los Angeles, New York/Newark, and Washington, D.C. United operates a hub-and-spoke system that is more focused on international and long-haul travel than its large U.S. peers.
Following our analysis of the options activities associated with United Airlines Holdings, we pivot to a closer look at the company's own performance.
<h3>Where Is United Airlines Holdings Standing Right Now?</h3>
<ul>
<li>Currently trading with a volume of 2,090,498, the UAL's price is up by 0.34%, now at $52.54. </li>
<li>RSI readings suggest the stock is currently may be overbought.</li>
<li>Anticipated earnings release is in 21 days.</li>
</ul>
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&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 United Airlines Holdings, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Check Out What Whales Are Doing With UAL

Goldman Sachs has initiated coverage on Avidity Biosciences Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RNA#NASDAQ">RNA</a>) based on multi-blockbuster, first-to-market commercial opportunities for its investigational candidates.
Avidity Biosciences is a clinical-stage biotechnology company that develops RNA therapeutics (antibody oligonucleotide conjugates) for muscular dystrophies.
The company&#8217;s lead asset, del-desiran (AOC 1001), is currently in the Phase 3 HARBOR trial in patients with myotonic dystrophy type 1 (DM1).
The company&#8217;s pipeline includes Del-brax in the Phase 1/2 Fortitude trial for facioscapulohumeral muscular dystrophy (FSHD) and del-zota in a Phase 1/2 Explore44 trial in Duchenne muscular dystrophy (DMD) for patients amenable to exon 44 skipping.
Goldman Sachs has initiated with a Buy rating and a <a target="_blank" href="https://www.benzinga.com/quote/RNA/analyst-ratings" rel="noreferrer noopener">price target of $59</a>.
The analyst sees a blockbuster commercial opportunity for del-brax in FSHD and a positive view of the clinical outlook and registrational path, with a 60% probability of success.
Del-brax is well positioned to be first-to-market, and the analyst highlights significant revenue opportunity, with an estimated peak sales of $2.7 billion.
Goldman Sachs analyst also says Del-desiran&#8217;s Phase 1/2 data positions the company to potentially be a first-to-market drug in myotonic dystrophy. The analyst projects unadjusted peak sales of $4 billion and is optimistic about the trial&#8217;s outcome, with a probability of success of 75%.
In August, Avidity Biosciences released Del-zota (AOC 1044) 5 mg/kg data that demonstrated a statistically significant increase of 25% of normal&nbsp;dystrophin production and 37% in&nbsp;exon 44 skipping in people living with Duchenne muscular dystrophy mutations amenable to exon 44 skipping (DMD44) in the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/n40280332/avidity-biosciences-announces-positive-aoc-1044-data-demonstrated-significant-increase-of-25-in-dy" rel="noreferrer noopener">Phase 1/2 EXPLORE44 trial</a>.
In addition, AOC 1044 5 mg/kg&nbsp;reduced creatine kinase levels to near normal with greater than 80% reduction compared to baseline.
Price Action: RNA stock is down 0.07% at $43.47 at last check Tuesday.
Photo via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/09/41008872/whats-going-on-with-paramount-global-stock-after-revealing-massive-layoff-plans" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With Paramount Global Stock After Revealing Massive Layoff Plans?</a></li>
</ul>

Analyst Color

Price Target

Initiation

Goldman Sachs Bullish On Avidity Biosciences, Cites Scalable RNA Therapeutics Platform For Rare Diseases

NetEase Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTES#NASDAQ">NTES</a>) shares are trading higher by 7.22% to $86.30 Tuesday afternoon, driven by a broader rally in Chinese equities after the People's Bank of China (PBoC) announced a monetary stimulus package aimed at bolstering the country's <a href="https://www.benzinga.com/markets/asia/24/09/41003814/chinese-stocks-jump-as-central-bank-unveils-major-stimulus-to-spur-economy-a-step-in-the-right-direc">flagging economy</a>.
What Happened: NetEase, a leading Chinese technology and gaming company, surged amid significant cut in the reserve requirement ratio (RRR) and key policy rates by the central bank. These actions are expected to inject liquidity into the financial system, creating favorable conditions for growth in sectors like online gaming and e-commerce, where NetEase is a dominant player.
The PBoC's decision to reduce the RRR by 50 basis points, from 10.0% to 9.5%, will release approximately 1 trillion yuan ($140 billion) into the banking system. This move is expected to lower borrowing costs and increase lending, particularly to technology companies that require capital for expansion and development.
Read Also: <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/41008403/consumer-confidence-tumbles-as-concerns-over-labor-market-grow-odds-rise-for-50-b">Consumer Confidence Tumbles As Concerns Over Labor Market Grow, Odds Rise For 50-Basis-Point Interest Rate Cut In November</a>
The gaming industry, in which NetEase holds a significant market share with blockbuster titles like Fantasy Westward Journey and Justice Online, stands to benefit from the increased liquidity and lower financing costs. As consumer spending potentially rises due to the loosening of monetary conditions, NetEase is positioned to capture a larger share of the market.
What Else: The reduction in mortgage rates by 0.5 percentage points is also seen as a positive for the overall economic environment, likely boosting disposable income for Chinese consumers. A healthier consumer market typically translates to greater discretionary spending on entertainment and online services, areas where NetEase excels. 
As one of China&#8217;s largest internet and online gaming companies, NetEase has diversified into areas such as e-commerce, music streaming, and education, all of which could see growth amid a more supportive economic backdrop.
NetEase has been expanding aggressively in overseas markets as well, particularly in North America and Japan, leveraging its strong gaming portfolio to reduce reliance on China's domestic economy. This global push, combined with the stimulus measures designed to revive domestic growth, positions NetEase well for both short-term gains and long-term resilience.
Read Also: <a href="https://www.benzinga.com/news/24/09/41010963/nvidia-stock-is-ripping-higher-tuesday-whats-going-on">Nvidia Stock Is Ripping Higher Tuesday: What&#8217;s Going On?</a>
<h2 class="wp-block-heading">How To Buy NTES 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 NetEase&#8217;s case, it is in the Communication Services 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>, NTES has a 52-week high of $118.89 and a 52-week low of $75.85.

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If you live in the United States and you&#8217;ve been feeling an extra pinch at the grocery store, you are not alone and <a href="https://www.benzinga.com/topic/inflation">it's not your imagination.</a>
During the 2020 presidential election cycle, food inflation in the U.S. was 3.9%. With less than 50 days left before the 2024 presidential election, food inflation has reached 25.8%, more than six times the inflation in 2020.
Former President and Republican Presidential candidate Donald Trump has responded to negative polling showing a small lead for his Democratic opponent, Vice President Kamala Harris, by attacking her and Democrats as the party responsible for the country&#8217;s food inflation.
The Trump campaign&#8217;s new political ads attack Harris for having been the deciding vote that passed the <a href="https://www.whitehouse.gov/american-rescue-plan/">2021 American Rescue Plan</a>, President Joe Biden's $1.9 trillion pandemic relief measure that disbursed funds to businesses and local governments.
Inflation reached a <a href="https://www.wcnc.com/article/news/nation-world/us-inflation-rate/507-06d3c6ee-3daf-4231-a0b4-a181688b7830">40-year high in 2022</a>, rising 9.1% compared to 2021. While economists have pointed to the American Rescue Plan as a potential factor, the main drivers of this sustained inflation are considered to be supply chain issues during the pandemic, the conflict in Ukraine, which spiked oil prices, and corporate price gouging.
Also Read: <a href="https://www.benzinga.com/news/24/09/40950674/data-scientist-who-called-2020-election-correctly-says-its-gone-from-drastic-landslide-in-trumps-dir">Data Scientist Who Called 2020 Election Correctly Says Its Gone From &#8216;Drastic Landslide In Trump&#8217;s Direction To A drastic landslide For Harris&#8217;</a>
The Fed Finally Lowers Interest Rates.
To fight inflation, the Federal Reserve raised interest rates eleven times between March 2022 and July 2023, from near 0% to between 5.25% and 5.5%. Raising the Federal interest rate is a key measure to control inflation—as long as it doesn't bring the nation into a recession.
With the 2024 presidential election near, the Fed has finally <a href="https://www.nbcnews.com/business/economy/interest-rate-cut-federal-reserve-decision-how-much-rcna171453">lowered interest rates by a whopping 0.5%</a> in order to head off a potential economic slowdown.
Lowering interest rates will make it cheaper for businesses to borrow money for expansion, but it's unlikely to address the whole issue because part of the problem has been corporate price gouging.
In May, Sen. Sherrod Brown (D-OH), chairman of the Senate Committee on Banking, Housing, and Urban Affairs, delivered a statement pointing to corporate profiteering as part of the cause of consumers' pain at the grocery store.
"Prices today are far too high, and families are having a harder time finding a fair price, seeing more of their paycheck vanish into thin air." Brown said. "All of this is happening while corporate profits hit record highs. Let's be clear: the fact that prices and corporate profits are going up at the same time is no coincidence."
Brown said that a study by the Kansas City Fed found that corporate profits drove half of the price increases in 2021.
As the Democratic candidate for president, Harris seems to concur that a policy solution is needed to control corporate price gouging, which has worsened the impact of inflation.
"My plan will include new penalties for opportunistic companies that exploit crises and break the rules," Harris said at an <a href="https://www.cnn.com/politics/live-news/trump-harris-election-08-16-24/index.html">Aug. 16 campaign event</a>.
Jason Furman, a leading economist in the Obama administration, objects to Harris' statement and feels that efforts to regulate corporate prices will ultimately hurt the consumer.
"It's more likely to maintain that status quo, because it would keep new competition from moving in to take advantage of the bigger profit margins — competition that could have helped lower prices in the long run," Furman said.
Blockchain May Have a Solution
When looking for a solution to corporate price gouging, it's hard to find a compromise between a corporation's need to post ever-increasing profits year-over-year and the consumer's need to live and buy food.
However, blockchain could have a solution if the next administration elected in November is ready to embrace the power of new technology.
Dan Weinberger, CEO of Morpheus (CRYPTO: MNW), a supply chain platform built on the Ethereum network, suggests that increasing efficiency in supply chain tracking on the blockchain could reduce costs for retailers, allowing them to maintain profits while controlling consumer prices.
"Blockchain is fundamentally an indelible ledger, so it's a perfect platform for tracking prices within an intricate global supply chain matrix. If large corporations have more visibility into their supply chains, they can purchase more effectively, eliminate redundancies, and source from the most desirable vendor," Weinberger said.
"It's hard to spur economic growth by creating legislation that punishes businesses for taking profits. Whoever holds the U.S. presidency after November, we hope to work with the administration to help them understand the solutions that are already available to streamline supply chains and reduce costs."
Crypto prices dropped in mid-September after what looks to be the sole 2024 presidential debate between Harris and Trump favored Harris, and superstar singer Taylor Swift endorsed the vice president.
Trump has positioned himself as the Bitcoin-friendly candidate to court the crypto enthusiast voter.
Recently, <a href="https://ny.eater.com/2024/9/18/24248363/pubkey-trump-rally-gottliebs-restaurant-rally-president-restaurant-campaign-trail">Trump visited Pubkey</a>, a Greenwich Village-based bar which accepts Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>). Trump paid for the patrons' food using Bitcoin, a transaction he described as "very easy. It goes quickly and beautifully."
Trump said it was his first Bitcoin transaction, but the event caused a price lift.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40993290/trump-vs-harris-2024-election-betting-odds-show-vice-president-maintains-lead-as-race-near">Trump Vs. Harris: 2024 Election Betting Odds Show Vice President Maintains Lead As Race Nears One-Month Mark</a></li>
</ul>
Photo created using images from Wikimedia commons.

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