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Wedbush analyst Daniel Ives reiterates Check Point Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHKP#NASDAQ">CHKP</a>) with a Outperform and maintains $185 price target.

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Wedbush Reiterates Outperform on Check Point Software, Maintains $185 Price Target

<h4>Key Takeaways:</h4>
<ul>
<li>Hillhouse Capital has raised its shareholding in Longi back to 5% after being investigated by the Chinese securities regulator for violating disclosure rules</li>
<li>Despite its bid to go global and shed its China affiliation, Hillhouse promised the Chinese regulator it would continue to invest and increase its asset allocation in China</li>
</ul>
By Teri Yu and Doug Young
In the complex tapestry that is China&rsquo;s vast private equity sector, even the most skilled weaver can occasionally miss a thread. That&rsquo;s what happened with&nbsp;Hillhouse Capital, a Chinese private equity firm now repositioning itself as a more global fund, which received a regulatory rap on the knuckles related to its investment in solar company Longi Green Energy.
Hillhouse recently bought back shares in&nbsp;Longi Green Energy Technology Co. Ltd.&nbsp;(601012.SH), raising its previous 4.85% holding to 5%, according to a&nbsp;<a href="https://static.sse.com.cn/disclosure/listedinfo/announcement/c/new/2024-04-20/601012_20240420_25B3.pdf">Shanghai Stock Exchange filing</a>&nbsp;by Longi last Friday. Hillhouse&rsquo;s move was in response to accusations by the China Securities Regulatory Commission (CSRC) last November that it &ldquo;indirectly reduced&rdquo; its holdings in Longi without making proper disclosure.
Such an oversight by an experienced investor like Hillhouse is unusual and could explain why the regulator launched its investigation. Especially in the current weak stock market, any such questionable share maneuver could be seen as showing a lack of confidence in a company.
<h3>Building A&nbsp;Global Fund From Chinese Roots</h3>
Founded by billionaire Zhang Lei in 2005, Hillhouse has made a name for itself for its investments in Chinese companies, mostly in the consumer, healthcare and technology sectors like Tencent Holdings (0700.HK), which has become China&rsquo;s top gaming company, and Chinese e-commerce company Pinduoduo (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pdd#NASDAQ">PDD</a>), which is jockeying with veteran Alibaba (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/baba#NYSE">BABA</a>). Belle Fashion, which has filed for a Hong Kong IPO, as well as cancer drug maker BeiGene (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bgne#NASDAQ">BGNE</a>) are also among its portfolio investments.
Hillhouse&rsquo;s misstep raised some eyebrows, especially as the company is pivoting from its Chinese roots to try to position itself as an Asia fund manager and expand to other global markets to hedge against uncertainties created by global geopolitical tensions. Such a transition is especially critical due to the company&rsquo;s large American limited partnership base, mostly pension funds, endowments and other institutional investors, who have increasing concerns over Chinese investments.
Hillhouse&rsquo;s website currently contains almost no mention of its successful Chinese deals but instead highlights its other presence in global markets like the U.S., Singapore, South Korea, Canada, Japan and Europe.
Apart from raising the Longi stake, Hillhouse also committed to investing in China&rsquo;s A-share market by increasing the proportion of its allocation to that asset class, it told the Chinese regulator after the Longi probe. It remains to be seen how Hillhouse will juggle these two opposing demands.
Hillhouse is already facing headwinds across the hedge fund industry. According to a recent Reuters report, the value of the firm&rsquo;s hedge fund assets dropped by a third last year to $27.5 billion as several of its U.S. investors withdrew their capital due to underperformance.
<h3>Caught In The Act</h3>
So, what exactly happened that ultimately drew the CSRC&rsquo;s attention?
Hillhouse is Longi&rsquo;s third-largest shareholder and held 5.85% of the company&rsquo;s stock through HHLR Management Pte. Ltd., its Singapore-based entity.
In March 2023, HHLR loaned 1% of Longi&rsquo;s shares for a term of up to 182 days, which brought its stake below the 5% level &mdash; a significant threshold above which shareholders must disclose their positions, but below which there is no such requirement. In such a transaction, a shareholder typically lends its holdings in a publicly traded company to a borrower, which must return the borrowed stock by an agreed deadline together with a pre-agreed fee.
However, HHLR&rsquo;s Longi stake only rebounded to 4.98% when the loan expired at the end of September, suggesting a divestment of 0.87%, or 54.61 million shares, which wasn&rsquo;t disclosed, sparking the controversy.
Since being notified of the CSRC&rsquo;s suspicions last November, HHLR has been actively cooperating with the probe and raised its Longi holding to 5% by buying 1.3 million shares, according to the latest Longi filing. Any profit HHLR makes through the share buyback will be given to Longi.
Hillhouse&rsquo;s boosting of its Longi holdings back to 5% indicates it has complied with the regulator&rsquo;s requirement, and may not intend to further raise its stake back to the earlier level. That&rsquo;s not surprising given the volatile situation at Longi.
Once dubbed the world&rsquo;s most valuable solar company and a top player in solar module production, Longi&rsquo;s market capitalization slumped more than 70% from a 2021 peak as the entire photovoltaic industry was plagued by overcapacity. Sinking prices are squeezing margins and hurting profitability throughout the sector. Last month, Longi revealed it will reduce its global workforce by as much as 5% to cut costs, citing an &ldquo;increasingly complex and competitive environment.&rdquo;
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

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Citigourp Global Markets 2% Protected Notes Linked To The Djia

Hillhouse Boosts Longi Position After Robe, As It Pivots To Global Focus

Honda Motor Co Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>) plans to invest $11 billion in Ontario, Canada, to establish a comprehensive electric vehicle (EV) value chain, including new <a href="https://www.benzinga.com/money/best-electric-vehicle-stocks">assembly and battery plants</a>. 
The initiative follows Honda&#8217;s previous $4.4 billion investment in a U.S. battery plant and underscores its commitment to expanding EV production capabilities in North America.
How quickly the Tokyo-based car company can turn a profit from these two projects remains to be seen. Its rivals are burning billions on the EV front:
<ul>
<li>Ford Motor Co <a href="https://www.drive.com.au/news/ford-losing-36k-on-every-electric-car-it-builds/">reportedly</a> loses anywhere from $36,000 to <a href="https://www.forbes.com/sites/dianafurchtgott-roth/2024/02/29/electric-vehicle-enthusiasm-loses-power/?sh=10c7374da7e9">$65,000</a> per EV sold.</li>
<li>GM <a href="https://www.wsj.com/business/earnings/general-motors-gm-q4-earnings-report-2023-65bcd7be?st=nygbg14qy299oye&amp;reflink=desktopwebshare_permalink">lost</a> $1.7 billion on its EV business in 2023</li>
<li>Tesla <a href="https://www.fool.com/investing/2023/10/22/tesla-profit-per-electric-vehicle/">generates</a> an average gross profit of $8,431 per car.</li>
<li>Rivian sells its EVs for over $80,000 on average, but <a href="https://www.wsj.com/business/autos/rivian-ev-truck-electric-vehicle-8e8dc124">loses</a> more than $33,000 on every EV it sells.</li>
</ul>
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38413847/4-general-motors-analysts-confirm-strong-ev-strategy-capital-allocation-will-remain">4 General Motors Analysts Confirm Strong EV Strategy &#8211; &#8216;Capital Allocation Will Remain A Tailwind&#8217;</a>
<h1 class="wp-block-heading">Money-Losing Endeavor? </h1>
Close observers of the auto sector would be wise to revisit Ford&#8217;s EV segment for <a href="https://www.benzinga.com/news/earnings/24/04/38417196/ford-q1-earnings-highlights-automaker-beats-street-estimates-guidance-improves-ev-revenue-falls-84" target="_blank" rel="noreferrer noopener">frame of reference</a>.
Dearborn, Michigan-based Ford has yet to hit profitability in its EV segment. CFO John Lawler, who spoke on the company's first-quarter earnings call on Wednesday, promised to cut business costs.
"We're going to continue to work on driving every dollar of cost out of the business in the near term," Lawler said.
<h1 class="wp-block-heading">Cheap Options</h1>
Revenue over the past several months plummeted faster than Ford has been able to reduce costs.
"If the pricing stabilizes and we don't see these significant reductions continuing across the industry, then I think that you could probably start to see some of those cost reductions flow to the bottom line," Lawler said.
At the onset of EV adoption, customers were willing to pay a premium for an EV. Not anymore. 
Prospective customers are now looking for cheaper options, Lawler noted. Tesla, for example, announced <a href="https://www.benzinga.com/markets/equities/24/04/38345362/tesla-slashes-model-s-x-and-y-prices-in-us-by-2-000-in-late-friday-move-as-volume-growth-turns-n" target="_blank" rel="noreferrer noopener">a round of price cuts in its U.S. market</a> as well <a href="https://www.benzinga.com/markets/equities/24/04/38348232/tesla-aggressively-cuts-prices-ahead-of-q1-report-ev-maker-lowers-model-3-y-prices-in-china-by-u">as its China market</a>. 
Despite Ford&#8217;s hardships, Honda cites future demand growth as a catalyst for its own investments. EV sales are expected to spike in 2024, <a href="https://www.benzinga.com/markets/equities/24/04/38348232/tesla-aggressively-cuts-prices-ahead-of-q1-report-ev-maker-lowers-model-3-y-prices-in-china-by-u">according</a> to the latest International Energy Agency (IEA) forecast.
<h1 class="wp-block-heading">What&#8217;s Next For Honda</h1>
Production is set to begin in 2028, targeting an annual capacity of 240,000 units. 
Honda aims to exclusively offer EVs and fuel cell-powered vehicles by 2040. 
The project is expected to create 1,000 new jobs and receive significant government assistance.
Now Read: <a href="https://www.benzinga.com/markets/asia/24/04/38459393/china-revs-up-ev-sales-with-up-to-1-380-trade-in-subsidy-for-old-cars">China Revs Up EV Sales With Up To $1,380 Trade-In Subsidy For Old Cars</a>
Image: Shutterstock

Is Honda's $11B Canada EV Deal Worth It? Rival Ford Burns Up To $65,000 On Every Electric Car It Sells

Stifel analyst Steven Wieczynski maintains Boyd Gaming (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>) with a Hold and lowers the price target from $71 to $65.

Stifel Maintains Hold on Boyd Gaming, Lowers Price Target to $65

Stifel analyst Bradley Canino maintains Blueprint Medicines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPMC#NASDAQ">BPMC</a>) with a Buy and raises the price target from $120 to $130.

BPMC

Stifel Maintains Buy on Blueprint Medicines, Raises Price Target to $130

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NUWE

Nuwellis shares are trading lower after the company announced pricing of a $2.7 million public offering.

Stifel analyst Scott Devitt maintains Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) with a Buy and raises the price target from $174 to $196.

GOOGL

Stifel Maintains Buy on Alphabet, Raises Price Target to $196

Stifel analyst Nathan Jones maintains A.O. Smith (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AOS#NYSE">AOS</a>) with a Hold and lowers the price target from $91 to $90.

Stifel Maintains Hold on A.O. Smith, Lowers Price Target to $90

Residents of Lubbock, West Texas' largest city with 264,000 residents, are slated to vote next week to decriminalize local low-level marijuana offenses, <a href="https://www.benzinga.com/markets/cannabis/23/10/35330124/bad-news-for-marijuana-prohibitionists-in-texas-oregons-new-cannabis-coalition-other-updates">making it yet another city in the Lone Star State, to do so.</a>
For the May 4 vote, which has been raising dust for months, Gov. Greg Abbott (R) said it's not the right way to make a change. Instead, he proposes reaching out to lawmakers, <a href="https://www.marijuanamoment.net/texas-governor-condemns-local-marijuana-decriminalization-efforts-as-lubbock-voters-decide-on-reform-at-the-ballot/">reported</a> Marijuana Moment.
"Local communities such as towns, cities and counties, they don't have the authority to override state law," said Abbott, who previously agreed that marijuana <a href="https://www.benzinga.com/markets/cannabis/22/01/25005295/texas-gov-greg-abbott-says-people-shouldnt-be-jailed-over-marijuana-possession-though-confuses-c">possession alone shouldn't put anyone behind bars</a>. "If they want to see a different law passed, they need to work with their legislators. Let's legislate to work to make sure that the state, as a state, will pass some of the law."
Even though Lubbock Mayor Tray Payne (R) applauded the efforts by the Lubbock Compact,  a public policy think tank, he partially shares Abbott's stance as he recently said the proposal contradicts state law and was "void and unenforceable."
<h3 class="wp-block-heading">GOP AG's Lawsuit Against Five Texas Cities That Already Passed Marijuana Laws</h3>
That said, probably the fiercest opponent of cannabis policy reform is Texas Attorney General Ken Paxton. He recently sued five cities &#8220;for adopting amnesty and non-prosecution policies that violate Texas laws concerning marijuana possession and distribution. &#8220;
&#8220;I will not stand idly by as cities run by pro-crime extremists deliberately violate Texas law and promote the use of illicit drugs that harm our communities,&#8221; Paxton said in a <a href="https://www.texasattorneygeneral.gov/news/releases/attorney-general-ken-paxton-sues-five-cities-over-marijuana-policies-preventing-enforcement-texas">news release</a> in January.
 AG Paxton <a href="https://www.benzinga.com/markets/cannabis/24/02/36942781/gop-attorney-general-battles-five-texas-cities-over-voter-approved-marijuana-laws-whats-next-for">launched lawsuits against</a> the cities of Austin, San Marcos, Killeen, Elgin and Denton.
"This unconstitutional action by municipalities demonstrates why Texas must have a law to ‘follow the law.' It's quite simple: the legislature passes every law after a full debate on the issues, and we don't allow cities the ability to create anarchy by picking and choosing the laws they enforce," Paxton continued.
While early voting in Lubbock kicked off on April 22 and will go through April 30, with Election Day taking place on the following Saturday, Abbott said in an interview that a practice of each city "picking and choosing" laws they want to enforce would result in "chaos."
Adam Hernandez, communications chair for Lubbock Compact and Freedom Act Lubbock, disagrees.
"The state constitution of Texas allows for home rule cities, which means that cities can make laws that best serve their local needs and purposes," he said recently.

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GOP Gov. Abbott Sides With AG Paxton On Texas Weed Decriminalization: Cities Like Lubbock Have No Authority To 'Override' State Law

Lyondell Says Co Plans To Operate Houston Refinery At 95% Capacity In Q2 2024

AutoNation Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>) stock is trading higher by more than 10.5%, at $177.44 per share <a href="https://www.benzinga.com/insights/analyst-ratings/24/04/38182107/analyst-expectations-for-autonations-future">on last check Friday</a>.
The movement comes on the heels of a reported first-quarter 2024 sales growth of 1% year-on-year to $6.48 billion. That slightly <a href="https://www.benzinga.com/pressreleases/24/04/n38455667/autonation-reports-first-quarter-2024-results">misses the analyst consensus estimate of $6.49 billion</a>.
Continued growth in after-sales and increased New Vehicle revenue more than offset lower Used Vehicle revenue.
New vehicle retail unit sales increased 7%, and used vehicle retail unit sales declined grew 2%.
Segment income from Domestic fell 37% Y/Y, Import dropped 20%, and Premium Luxury dropped 24%.
Gross profit declined 7% Y/Y to $1.19 billion, and the gross profit margin contracted 160 basis points Y/Y to 18.5%. After-sales gross profit increased 9% to $556 million.
Operating margin for the quarter was 5.2%, and the operating income was $340.3 million, a 23.2% decrease Y/Y.
EPS of $4.49 <a href="https://docs.google.com/document/d/1QEvzL5Sqg63OMCYdFpsQgtvc39sCM0fpLHECF2D5elA/edit">beat the consensus</a> estimate of $4.27.
Cash and equivalents totaled $60.3 million as of March 31, 2024. Year-to-date through April 24, 2024, AutoNation had repurchased 1.6 million shares for an aggregate purchase price of $250 million.
The Board of Directors authorized the repurchase of up to an additional $1 billion of common stock under its share repurchase program and has approximately $1.1 billion under the program.
Now Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38462239/avantors-conservative-guidance-is-realistic-post-q1-earnings-performance-analyst">Avantor&#8217;s Conservative Guidance Is Realistic Post Q1 Earnings Performance &#8211; Analyst</a>

Movers

AutoNation Shares Spike After Earnings Report Shows New Vehicle Sales Increased In Q1

Reaching a net worth of $1 million is often seen as a key milestone toward financial independence, but for one person, this achievement has come with significant personal costs.
A woman writing under the pseudonym lifesucksbutmoney on Reddit detailed a story of career burnout and a struggle with well-being — despite financial success.
Don't Miss:
<ul>
<li>The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?</li>
<li>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/1milsaved"> The percentage may shock you</a>.</li>
</ul>
She recounted her experience of <a href="https://www.benzinga.com/personal-finance/24/02/36960367/average-person-believes-financial-happiness-comes-with-a-1-2-million-price-tag-revealing-money-c">increased unhappiness</a> and feeling trapped after hitting the million-dollar mark, suggesting that a high net worth does not necessarily equate to a high quality of life.&nbsp;
The post, titled "Finally hit $1 million and I&#8217;ve never been more miserable," outlines the pressures of a high-paying job, including returning to the office post-pandemic and taking on unwanted managerial responsibilities. All of this led to a decline in mental and physical health for the Reddit user.
She evaluated the implications of relying solely on her husband's $110,000 salary, which would likely mean scaling back on savings for retirement, switching to a pricier insurance plan with less coverage and the challenge of affording their $2,500 monthly mortgage — all of which offers scant financial flexibility. 
As the main income provider, earning $170,000 per year, she is wrestling with the guilt associated with resigning, aware of the significant financial and lifestyle adjustments it would impose on her husband. Adding to the complexity is the couple&#8217;s goal of retiring in their early 40s with savings of $2.5 million to $2.8 million, which she says they&#8217;re on track to accomplish with her income.
Trending: The<a href="https://www.benzinga.com/money/public-hys-avgamerican"> shocking amount the average American would save by now</a> if they started saving in 2010 with today&#8217;s high yield savings account rates will make you run to open your next account.
The sense of being trapped is palpable, as the poster acknowledged the reliance on her income and benefits. She said she feels a lack of autonomy over her life and admits that if not for marital commitments, a decisive job exit would have been a likely choice, funded by the year's bonus and a portion of the accumulated wealth.
One response to the post highlighted a pertinent consideration.&nbsp;
&#8220;More importantly than what you want your career to look like — it&#8217;s what you want your life to look like,&#8221; the user wrote.
This sentiment echoed across various responses, where others shared similar experiences of prioritizing personal well-being and time over career advancement and financial incentives.
Another user wrote, &#8220;You totally shouldn&#8217;t make rash, drastic changes, but this state of mind itself is what tells you that you do actually need to start making life-changing decisions.&#8221;&nbsp;
The discussion reflects a broader discourse on work-life balance, individual fulfillment and the true cost of financial independence.
Someone else pointed out their retirement goals may be to blame, posting, &#8220;You are trapped by a too aggressive retirement schedule for your constitution.&#8221;&nbsp;
The post highlighted how pursuing ambitious financial targets can sometimes come at the expense of overall quality of life and contentment.
While <a href="https://www.benzinga.com/personal-finance/financial-advisors/23/12/36094420/can-you-guess-how-many-americans-successfully-retire-with-1-million-saved-the">achieving a $1 million net worth</a> is a financial milestone, it does not automatically equate to happiness or life satisfaction. For those at similar crossroads, <a href="https://www.benzinga.com/money/smartasset">consulting with a financial adviser</a> can provide valuable guidance in evaluating the potential impact of career changes on long-term financial goals and developing a plan to navigate any necessary adjustments.&nbsp;
Financial independence is a worthy pursuit, but it should not come at the expense of your mental and physical health or overall life satisfaction.&nbsp;
Read Next:
<ul>
<li>If the United States had access to<a href="https://www.benzinga.com/money/public-hys-avgamerican"> today&#8217;s high-yield savings accounts rates</a> in 2015, it wouldn&#8217;t need to save another penny.</li>
<li>How to turn a $100,000 investment into $1 Million — and<a href="https://www.benzinga.com/money/fam"> retire a millionaire.</a></li>
</ul>

Personal Finance

'Finally Hit $1 Million And I've Never Been More Miserable' — This Woman Wants To Quit Job But Struggles With Guilt As The 'Breadwinner'

U.S. Silica Holdings, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLCA#NYSE">SLCA</a>) shares are trading higher after the company inked a deal to be acquired by funds managed by&nbsp;affiliates&nbsp;of&nbsp;Apollo Global Management, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>)<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38455715/u-s-silica-enters-into-definitive-agreement-to-be-acquired-by-apollo-funds-for-1-85-billion" rel="noreferrer noopener">&nbsp;for around&nbsp;$1.85 billion.</a>
M&amp;A Deal: As per the deal, U.S. Silica shareholders will receive&nbsp;$15.50&nbsp;per share in cash for each share they own,&nbsp;representing an 18.7% premium to its closing share price as of&nbsp;$13.06&nbsp;on&nbsp;April 25 and a 33.0% premium to 90-day volume-weighted average share price for the period ended&nbsp;April 25.&nbsp;
The transaction&nbsp;is expected&nbsp;to close in the third quarter of 2024, subject to customary closing conditions. The agreement includes a 45-day &#8220;go-shop&#8221; period&nbsp;that will expire&nbsp;on&nbsp;June 10.
Post deal&nbsp;completion,&nbsp;the company will no longer be listed&nbsp;on the New York Stock&nbsp;Exchange,&nbsp;and will become a private company.&nbsp;
Bryan Shinn, Chief Executive Officer, said, &#8220;By partnering with Apollo Funds, we gain significant resources, deep industry expertise and enhanced flexibility as a private company to pursue the many market opportunities in front of us and invest in innovative capabilities that enable value-added offerings for customers.&#8221;
Earnings: Also, the company reported first-quarter FY24 results, with adjusted EPS of&nbsp;$0.20, in line with the consensus, and sales&nbsp;of $325.9 million&nbsp;missed&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38455740/u-s-silica-holdings-inc-reports-first-quarter-2024-results" rel="noreferrer noopener">the consensus of $336.6 million</a>.
Total tons sold declined 17% Y/Y to&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">4.092 million in the quarter</a>.&nbsp;
Operating cash flow stood at $40.9 million, and capital expenditures&nbsp;came in at&nbsp;$12.4 million in the quarter.&nbsp;
As of March-end, the company had cash and cash equivalents of $234.5 million and total debt of $809.5 million.
Shinn added, &#8220;In our Oil &amp; Gas segment, volumes were up 5% sequentially, although our margins&nbsp;were impacted&nbsp;by slightly lower pricing, driven&nbsp;in part&nbsp;by lower natural gas prices.&#8221;
Investors can gain exposure to the stock via&nbsp;Invesco S&amp;P SmallCap Energy ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSCE#NASDAQ">PSCE</a>) and&nbsp;SPDR Series Trust SPDR S&amp;P Oil &amp; Gas Equipment &amp; Services ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XES#NYSE">XES</a>).
Price Action: SLCA shares are up 20.2% at $15.70 at the last check Friday.
Image sourced from Shutterstock

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SLCA

SPDR S&P Oil & Gas Equipment & Services ETF

Why Industrial Minerals Company U.S. Silica Shares Are Rocketing Today

BILI

FUTU

Shares of Chinese tech stocks are trading higher following strong earnings from large-cap US tech names.

PTCT

PTC Therapeutics shares are trading higher after the company reported better-than-expected Q1 financial results and reaffirmed its FY24 financial guidance.

ALSN

Allison Transmission shares are trading lower after the company reported Q1 financial results.

A substantial insider sell was reported on April 25, by Herbert K Parker, Board Member at Apogee Enterprises (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APOG#NASDAQ">APOG</a>), based on the recent SEC filing.
What Happened: According to a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000006845/000000684524000079//Archives/edgar/data/6845/000000684524000079/0000006845-24-000079-index.htm">U.S. Securities and Exchange Commission</a> on Thursday, Parker sold 15,728 shares of Apogee Enterprises. The total transaction value is $949,184.
At Friday morning, Apogee Enterprises shares are down by 0.0%, trading at $61.32.
<h3>All You Need to Know About Apogee Enterprises</h3>
Apogee Enterprises Inc is a manufacturer of architectural glass and metal glass framings. The company also provides building glass installation services. Its four main business segments are Architectural Framing Systems; Architectural Glass; Architectural Services and Large-Scale Optical Technologies (LSO). It generates maximum revenue from the Architectural Framing Systems segment. The Architectural Framing Systems segment designs, engineers, fabricates and finishes the aluminum frames used in customized aluminum and glass window, curtainwall, storefront and entrance systems comprising the outside skin and entrances of commercial, institutional and high-end multi-family residential buildings. Geographically, it derives a majority of revenue from the United States.
<h3>Unraveling the Financial Story of Apogee Enterprises</h3>
Decline in Revenue: Over the 3 months period, Apogee Enterprises faced challenges, resulting in a decline of approximately -7.65% in revenue growth as of 30 November, 2023. This signifies a reduction in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Industrials sector.
Analyzing Profitability Metrics:
<ul>
<li>
Gross Margin: The company issues a cost efficiency warning with a low gross margin of 26.58%, indicating potential difficulties in maintaining profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): Apogee Enterprises's EPS is a standout, portraying a positive bottom-line trend that exceeds the industry average with a current EPS of 1.24.
</li>
</ul>
Debt Management: Apogee Enterprises's debt-to-equity ratio is below the industry average at 0.31, reflecting a lower dependency on debt financing and a more conservative financial approach.
Understanding Financial Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: The P/E ratio of 13.05 is lower than the industry average, implying a discounted valuation for Apogee Enterprises's stock.
</li>
<li>
Price to Sales (P/S) Ratio: The P/S ratio of 0.97 is lower than the industry average, implying a discounted valuation for Apogee Enterprises's stock in relation to sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): The company's EV/EBITDA ratio of 8.02 trails industry averages, indicating a potential disparity in market valuation that could be advantageous for investors.
</li>
</ul>
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
<a href="https://www.schwab.com/brokerage?aff=XEC">Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.</a>
<h3>Illuminating the Importance of Insider Transactions</h3>
Insider transactions contribute to decision-making but should be supplemented by a comprehensive investment analysis.
Within the legal framework, an "insider" is defined as any officer, director, or beneficial owner holding more than ten percent of a company's equity securities as per Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are mandated to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
The initiation of a new purchase by a company insider serves as a strong indication that they expect the stock to rise.
However, insider sells may not always signal a bearish view and can be influenced by various factors.
<h3>The Insider's Guide to Important Transaction Codes</h3>
Examining transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> often concentrate on those unfolding in the open market, meticulously detailed in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C indicates the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000006845">Check Out The Full List Of Apogee Enterprises's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Trading Ideas

APOG

Apogee Enterprises Board Member Trades $949K In Company Stock

It was reported on April 25, that Jeremy Cox, SVP at Hewlett Packard (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) executed a significant insider sell, according to an SEC filing.
What Happened: Cox's recent move involves selling 18,323 shares of Hewlett Packard. This information is documented in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0001645590/000106299324008793//Archives/edgar/data/1645590/000106299324008793/0001062993-24-008793-index.htm">U.S. Securities and Exchange Commission</a> on Thursday. The total value is $310,849.
The latest market snapshot at Friday morning reveals Hewlett Packard shares up by 0.94%, trading at $17.13.
<h3>Discovering Hewlett Packard: A Closer Look</h3>
Hewlett Packard Enterprise is an information technology vendor that provides hardware and software to enterprises. Its primary product lines are compute servers, storage arrays, and networking equipment; it also has a high-performance computing business. HPE's stated goal is to be a complete edge-to-cloud company, and its portfolio enables hybrid clouds and hyperconverged infrastructure. It uses a primarily outsourced manufacturing model and employs 60,000 people worldwide.
<h3>A Deep Dive into Hewlett Packard's Financials</h3>
Negative Revenue Trend: Examining Hewlett Packard's financials over 3 months reveals challenges. As of 31 January, 2024, the company experienced a decline of approximately -13.5% in revenue growth, reflecting a decrease in top-line earnings. When compared to others in the Information Technology sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Profitability Metrics:
<ul>
<li>
Gross Margin: The company shows a low gross margin of 36.37%, indicating concerns regarding cost management and overall profitability relative to its industry counterparts.
</li>
<li>
Earnings per Share (EPS): With an EPS below industry norms, Hewlett Packard exhibits below-average bottom-line performance with a current EPS of 0.3.
</li>
</ul>
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.6.
Understanding Financial Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: The current P/E ratio of 11.7 is below industry norms, indicating potential undervaluation and presenting an investment opportunity.
</li>
<li>
Price to Sales (P/S) Ratio: The current P/S ratio of 0.8 is below industry norms, suggesting potential undervaluation and presenting an investment opportunity for those considering sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): With a lower-than-industry-average EV/EBITDA ratio of 6.31, Hewlett Packard presents a potential value opportunity, as investors are paying less for each unit of EBITDA.
</li>
</ul>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
<a href="https://www.schwab.com/brokerage?aff=XEC">Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.</a>
<h3>Why Insider Activity Matters in Finance</h3>
Emphasizing the importance of a comprehensive approach, considering insider transactions is valuable, but it's crucial to evaluate them in conjunction with other investment factors.
Within the legal framework, an "insider" is defined as any officer, director, or beneficial owner holding more than ten percent of a company's equity securities as per Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are mandated to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
The initiation of a new purchase by a company insider serves as a strong indication that they expect the stock to rise.
However, insider sells may not always signal a bearish view and can be influenced by various factors.
<h3>A Deep Dive into Insider Transaction Codes</h3>
When dissecting transactions, the focal point for <a href="https://www.benzinga.com/money/investing-tools">investors</a> is often those occurring in the open market, meticulously detailed in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C indicates the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0001645590">Check Out The Full List Of Hewlett Packard's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Hewlett Packard Recent Insider Activity

Revealing a significant insider sell on April 25, April Jalazo, 10% Owner at Zurn Elkay Water (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZWS#NYSE">ZWS</a>), as per the latest SEC filing.
What Happened: Jalazo's recent Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0001439288/000110465924052146//Archives/edgar/data/1439288/000110465924052146/0001104659-24-052146-index.htm">U.S. Securities and Exchange Commission</a> on Thursday unveiled the sale of 236,728 shares of Zurn Elkay Water. The total transaction value is $7,679,456.
As of Friday morning, Zurn Elkay Water shares are up by 0.35%, currently priced at $31.99.
<h3>Unveiling the Story Behind Zurn Elkay Water</h3>
Zurn Elkay Water Solutions Corp designs procure, manufactures, and markets a range of clean water solutions for drinking water, hygiene, and sustainable water management. The Zurn Elkay product portfolio includes professional-grade water control and safety, water distribution and drainage, drinking water, finish plumbing, hygienic, environmental and site works products for public and private spaces.
<h3>Zurn Elkay Water: Delving into Financials</h3>
Revenue Growth: Zurn Elkay Water's remarkable performance in 3 months is evident. As of 31 March, 2024, the company achieved an impressive revenue growth rate of 0.46%. This signifies a substantial increase in the company's top-line earnings. When compared to others in the Industrials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Navigating Financial Profits:
<ul>
<li>
Gross Margin: The company excels with a remarkable gross margin of 45.51%, indicating superior cost efficiency and profitability compared to its industry peers.
</li>
<li>
Earnings per Share (EPS): With an EPS below industry norms, Zurn Elkay Water exhibits below-average bottom-line performance with a current EPS of 0.2.
</li>
</ul>
Debt Management: Zurn Elkay Water's debt-to-equity ratio is below the industry average. With a ratio of 0.33, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
Valuation Analysis:
<ul>
<li>
Price to Earnings (P/E) Ratio: Zurn Elkay Water's current Price to Earnings (P/E) ratio of 49.05 is higher than the industry average, indicating that the stock may be overvalued according to market sentiment.
</li>
<li>
Price to Sales (P/S) Ratio: The current P/S ratio of 3.67 is above industry norms, reflecting an elevated valuation for Zurn Elkay Water's stock and potential overvaluation based on sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): At 20.85, the company's EV/EBITDA ratio outperforms industry norms, reflecting positive market perception. This positioning indicates optimistic expectations for the company's future performance.
</li>
</ul>
Market Capitalization: With restricted market capitalization, the company is positioned below industry averages. This reflects a smaller scale relative to peers.
<a href="https://www.schwab.com/brokerage?aff=XEC">Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.</a>
<h3>The Relevance of Insider Transactions</h3>
In the complex landscape of investment decisions, investors should approach insider transactions as part of a comprehensive analysis, considering various elements.
In the context of legal matters, the term "insider" refers to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as outlined by Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and significant hedge funds. Such insiders are obligated to report their transactions through a Form 4 filing, which must be completed within two business days of the transaction.
Pointing towards optimism, a company insider's new purchase signals their positive anticipation for the stock to rise.
Despite insider sells not always signaling a bearish sentiment, they can be driven by various factors.
<h3>Transaction Codes Worth Your Attention</h3>
Digging into the details of stock transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> frequently turn their attention to those taking place in the open market, as outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0001439288">Check Out The Full List Of Zurn Elkay Water's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Massive Insider Trade At Zurn Elkay Water

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