Latest news for VAT Group (OTC:VTTGF) Stock

VAT Group AG manufactures and sells valves that are used in machines. The company has two segments. The Valves segment is focused on its core vacuum valve technology and consists of three business units aligned with its markets: Semiconductors, Display & Solar industries. The second segment, Global Service, supplies a growing range of service products and solutions to help customers. The company derives maximum revenue from the Valves segment. The company derives maximum revenue from China.

VAT Group AG

The announcement that Nike Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) is bringing in Elliot Hill as the new CEO could be a positive change given his experience and company tenure, but it raises questions about the company&#8217;s strategy for a turnaround and plans to return to revenue growth.
The Nike Analysts: 
<ul>
<li>Piper Sandler analyst Anna Andreeva maintained a Neutral rating with a $80 price target.</li>
<li>KeyBanc analyst Ashley Owens maintained a Sector Weight rating with no price target.</li>
<li>Stifel analyst Jim Duffy maintained a Hold rating with a $79 price target.</li>
<li>BMO analyst Simeon Siegel reiterated an Outperform rating with a $92 price target.</li>
<li>Truist analyst Joseph Cirello maintained a Hold rating and raised the price target from $81 to $85.</li>
<li>RBC Capital analyst Piral Dadhania maintained a Sector Perform rating with a $75 price target.</li>
<li>JPMorgan analyst Matthew Boss maintained a Neutral rating with an $83 price target.</li>
</ul>
Piper Sandler on NKE: Nike's announcement is a positive for the stock, Andreeva said in a new investor note.
"This removes an overhang in leadership and creates a potentially interesting setup with the Investor Day in November," Andreeva said.
The analyst said that the announcement came sooner than expected, adding that a CEO with deep company experience could positively impact the company culture.
While the news is positive for the stock, Andreeva said Nike could stay "range-bound" until more color is provided on the company's new strategy.
KeyBanc on NKE: With a combined 32 years of experience in various roles at Nike, Hill could play a key role in driving growth at the company, Owens said.
"We view Hill's longstanding connection with the company and expertise within the marketing scope as encouraging, as NKE examines reinvigorating brand storytelling," Owens said.
Stifel on NKE: Bringing back a long-time Nike insider is viewed as a positive by Duffy.
"Recent underperformance is a direct result of losing focus on what has made Nike great for so many years," Duffy said. "Under Mr. Hill's leadership, we hope to see a revitalization of the Nike culture and a renaissance in innovation and design."
The analyst warns that changing CEOs can reset financial forecasts, trigger periods of product revitalization, and potentially lead to additional management changes.
Duffy added that timing the change ahead of Nike's November Investor Day is "purposefully" planned and could offer a clearer view of the company&#8217;s future direction.
BMO Capital on NKE: The hiring of Hill could bring an immediate morale boost to Nike thanks to being well-liked by employees and retail partners, Siegel said in a new investor note.
The analyst said that CEO changes often take time to yield results, but Hill could help Nike regain success in areas such as product development and marketing.
"A new CEO changes the dynamic for the upcoming analyst day and we believe breathes new life and hope into a semi-abandoned blue-chip company in an environment where investors are looking for exactly that," Siegel said.
Read Also: <a href="https://www.benzinga.com/news/24/09/40957353/nikes-new-ceo-elliott-hill-to-focus-on-repairing-retailer-relations">Nike&#8217;s New CEO Elliott Hill To Focus On Repairing Retailer Relations</a>
Truist on NKE: Cirello cautions that the near-term upside for Nike could be limited after shares jumped on news of Hill's hiring.
The analyst said shares trade at price to earnings multiples of 25X or higher for fiscal year 2025 and 2026 estimates, "despite no projected revenue growth."
A leadership change could offer a better chance at a turnaround, but could be a long process, Cirello added.
"We view the move as a step in the right direction that can help reinvigorate the brand and improve sentiment on the stock, given that Mr. Hill is very well-respected and knows the business well from his 32-year Nike tenure," Cirello said.
Cirello said there could be "a long road ahead with a lot of potential bumps in the road."
RBC Capital on NKE: Given the recent struggles in share price, the announcement of a new CEO at Nike is a welcome development, Dadhania said in a recent investor note.
"Nike CEO change is unlikely to surprise the market, given investor discontent with the overall management and direction of the business in recent years, as well as increasing competition from newer players and incumbents," Dadhania said.
The analyst said Hill understands Nike's history, Nike's culture and the sportswear market, which could be a winning combination.
"We think this was the icing on the cake that the Nike bulls have been waiting for."
Goldman Sachs on NKE: Roach said in a note Thursday that Hill's background with Nike could be a key strength in helping with the company's turnaround.
"We are encouraged by today's announcement and are pleased that NKE's next CEO has a deep-rooted understanding of NKE culture, storytelling, and marketplace," Roach said.
Hill's comment on looking forward to delivering bold and innovative products caught the attention of the analyst and could be a positive ahead of the Investor Day.
"We look for initial thoughts from Mr. Hill regarding his initial priorities and an articulation of the updated NKE strategy, including channel and marketplace, innovation, demand creation, and opportunities to accelerate momentum in a competitive marketplace."
JPMorgan on NKE: Elliott's expertise and leadership style were credited with winning the CEO job, Boss said.
The analyst highlighted Nike's history with long-tenured managers as part of "the old guard."
"This represents a shift back to a seasoned Nike veteran as CEO with Hill having spent more than 32 years at Nike in various leadership roles, akin to Chairman and former CEO Mark Parker's resume of spending 27 years at Nike prior to his CEO appointment in 2006," Boss said.
Parker helped Nike produce high-single-digit revenue growth and mid-teens earnings per share growth, the analyst added.
NKE Price Action: Nike shares are up 6% to $86.17 on Friday versus a 52-week trading range of $70.75 to $123.39. Nike stock is down 19% year-to-date in 2024.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/06/39536852/nike-q4-earnings-highlights-revenue-miss-eps-beat-taking-our-near-term-challenges-head-on">Nike Q4 Earnings Highlights: Revenue Miss, EPS Beat, &#8216;Taking Our Near-Term Challenges Head-On&#8217;</a></li>
</ul>
Photo: JHVEPhoto/Shutterstock.com

Analyst Color

Price Target

Reiteration

Analyst Ratings

Trading Ideas

Nike CEO Announcement 'Icing On The Cake' For Bulls: 8 Analysts React To Elliot Hill's Ascension

Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) investors are bracing for a significant shake-up as the quarterly rebalancing of market index funds coincides with a rare triple witching event, a financial phenomenon that only intensifies market volatility.
<h2 class="wp-block-heading">Busiest Rebalancing In Four Years To Boost Apple </h2>
With $250 billion in stock adjustments underway, the iPhone manufacturer could emerge as one of the biggest beneficiaries. 
A notable shift comes from Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) trimming its stake, increasing the share count used by index providers to determine Apple's weight, pushing the Cupertino, California-based company&#8217;s stock to the top of S&amp;P 500 tracking funds.
<h2 class="wp-block-heading">Apple To Take The Lead Over Microsoft</h2>
Apple&#8217;s market capitalization of $3.48 trillion now surpasses Microsoft Corp's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) $3.26 trillion, positioning the tech titan to be the largest holding in the SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>).
As funds rebalance, a hefty $35 billion worth of Apple shares will need to be bought, which could provide significant support to its stock price. This reshuffling may further amplify the bullish momentum Apple has enjoyed year-to-date, with the stock already up over 24%.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40940715/apple-revenue-growth-just-too-slow-for-investors-to-get-excited-about-analyst-highl">Apple Revenue Growth &#8216;Just Too Slow For Investors To Get Excited About&#8217;: Analyst Highlights Advertising As Future Catalyst</a>
<h2 class="wp-block-heading">Bullish Signals All-Around</h2>
Apple&#8217;s stock chart is radiating strength, signaling continued bullish action.
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="631" height="458" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20134327/Screenshot-2024-09-20-at-11.12.34-PM.png" alt="" class="wp-image-558956" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20134327/Screenshot-2024-09-20-at-11.12.34-PM.png 631w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20134327/Screenshot-2024-09-20-at-11.12.34-PM-300x218.png 300w" sizes="(max-width: 631px) 100vw, 631px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092024&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
With the stock trading above key moving averages — five, 20 and 50 days — the technical setup strongly favors buyers. The share price of $231.12 sits comfortably above its eight-day SMA of $221.71 and 20-day SMA of $223.84, offering a consistent bullish signal across multiple indicators.
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="631" height="458" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20134329/Screenshot-2024-09-20-at-11.12.51-PM.png" alt="" class="wp-image-558957" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20134329/Screenshot-2024-09-20-at-11.12.51-PM.png 631w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20134329/Screenshot-2024-09-20-at-11.12.51-PM-300x218.png 300w" sizes="(max-width: 631px) 100vw, 631px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092024&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
The Moving Average Convergence Divergence (MACD) suggests more buying pressure with a positive reading, while the Relative Strength Index (RSI) of 63.00 (and rising) indicates that although Apple is nearing overbought territory, the bullish momentum remains intact.
With the rebalancing aligning with positive technicals, investors are betting that Apple could soar further.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40958207/how-apple-stock-could-gain-from-fridays-s-p-500-rebalancing-what-investors-should-know">How Apple Stock Could Gain From Friday&#8217;s S&amp;P 500 Rebalancing: What Investors Should Know</a></li>
</ul>

Long Ideas

Technicals

Tech

AAPL

MSFT

Apple Vs. Microsoft: Can A $35B Rebalance Amplify Bullish Momentum?

Sony Group Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) revealed the highly anticipated Silent Hill 2 remake would remain a PlayStation 5 console exclusive for one year, with other platforms not receiving the game until at least<a href="https://www.benzinga.com/general/gaming"> Oct. 8, 2025. </a>
Fans of the psychological horror classic have been eagerly awaiting this remake, developed by Bloober Team, which promises to retain the eerie charm of the 2001 original while introducing several new gameplay elements.
See Also: <a href="https://www.benzinga.com/general/gaming/24/09/40947591/playstation-celebrates-30-years-with-retro-themed-ps5-pro-and-slim-editions">PlayStation Celebrates 30 Years With Retro-Themed PS5 Pro And Slim Editions</a>
<h1 class="wp-block-heading">Exclusive PS5 Features</h1>
The announcement, first <a href="https://www.eurogamer.net/silent-hill-2-remake-will-be-a-ps5-console-exclusive-for-one-year">spotted</a> by Eurogamer in a new PlayStation trailer, confirms the remake will launch on both PC and PS5 on Oct. 8, 2024.
Players on other consoles, such as Xbox Series X&#x7C;S or Nintendo's next-gen console (potentially dubbed the Switch 2), will have to wait a full year for access. 
Sony has also confirmed full support for the PS5's DualSense controller in the Silent Hill 2 remake, taking advantage of its unique features like haptic feedback, adaptive triggers, and a dynamic lightbar.
<h1 class="wp-block-heading">Staying True to the Original with Modern Gameplay Enhancements</h1>
The Silent Hill 2 remake reimagines one of the most beloved psychological horror games of all time. The story follows James Sunderland, who receives a cryptic letter from his deceased wife, Mary, urging him to return to the eerie town of Silent Hill. 
As players guide James through the monster-infested town, they must piece together the unsettling mystery, all while facing a slew of terrifying foes.
Despite the introduction of modern gameplay mechanics, Bloober Team has remained adamant that the game's narrative will remain faithful to the 2001 original. 
However, they estimate players will take around 16 to 18 hours to complete the game, a noticeable increase from the original. This extended playtime is due to the revamped gameplay rather than any changes in the storyline.
Earlier this month, footage of the first 90 minutes of gameplay surfaced online, showcasing just under 10% of the game. 
For those looking to experience Silent Hill 2 with the highest possible fidelity, the game will also be compatible with the upcoming PS5 Pro, launching on Nov. 7, 2024. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/gaming/24/09/40907983/september-playstation-plus-lineup-whats-coming-and-whats-leaving">September PlayStation Plus Lineup: What&#8217;s Coming And What&#8217;s Leaving</a></li>
</ul>
Photo: Courtesy of Bloober Team.

Gaming

News

General

Sony Group Corporation American Depositary Shares

SONY

Silent Hill 2 Remake Locks In PS5 Exclusivity For One Year

Offerings

BANL

CBL International Says May Offer & Sale From Time To Time In One Or More Offerings By Selling Securityholder Of Up To 2.5M Ordinary Shares

Yesterday, Darden Restaurants, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) reported first-quarter adjusted earnings per share of $1.75, missing&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/09/40943086/darden-misses-q1-earnings-estimates-partners-with-uber-for-delivery-expansion" rel="noreferrer noopener">the analyst consensus estimate of $1.83.&nbsp;</a>Quarterly sales of $2.76 billion missed the street view of $2.80 billion.
Analysts covering <a target="_blank" href="https://www.benzinga.com/quote/DRI/analyst-ratings" rel="noreferrer noopener">the company provided their takes:</a>
<ul>
<li>KeyBanc Capital Markets analyst Eric Gonzalez reiterated the Overweight rating on the stock, raising the price forecast to $194 from $170.</li>
<li>BMO Capital Markets analyst Andrew Strelzik maintained the Market Perform rating, raising the price forecast to $175 from $165.</li>
<li>Wedbush analyst Nick Setyan reiterated the Outperform rating on Darden Restaurants, raising the price forecast to $200 from $170.</li>
<li>Piper Sandler analyst Brian Mullan reiterated the Neutral rating on the company, raising the price forecast to $177 from $159.</li>
<li>Truist Securities analyst Jake Bartlett maintained the Buy rating, increasing the price forecast to $195 from $185.</li>
</ul>
KeyBanc Capital Markets: The analyst anticipates potential growth from Darden&#8217;s partnership with Uber. Gonzalez also slightly raised the FY25 EPS estimate to $9.48, attributing this adjustment to a modest increase in blended same-store sales growth as Darden focuses more on price point advertising at Olive Garden. Darden will test delivery at approximately 100 Olive Garden locations during the holiday season, with plans to expand to the entire Olive Garden network by the end of FY25. It&#8217;s important to note that delivery menu prices will match those for dine-in and takeout, but customers will incur a $5 delivery fee plus a 5% service charge for this convenience.
Also Read:<a target="_blank" href="https://www.benzinga.com/news/earnings/24/09/40876180/darden-restaurants-gears-up-for-q1-print-here-are-the-recent-forecast-changes-from-wall-streets-mos" rel="noreferrer noopener"> Darden Restaurants Gears Up For Q1 Print; Here Are The Recent Forecast Changes From Wall Street&#8217;s Most Accurate Analysts</a>
BMO Capital Markets: While the analyst expects the company to gain incremental benefits from delivery and views the deal structure positively, they wouldn&#8217;t be surprised if sales growth lags behind competitors due to potential overlap with its existing substantial off-premise business and its absence from the third-party marketplace. Currently, Strelzik forecasts a modest boost to Olive Garden&#8217;s comparable sales in the second half of 2025 and a low-single-digit increase in FY2026.
Wedbush: The analyst projects that DRI will continue to gain market share even in a challenging consumer landscape, suggesting a strong likelihood of achieving its long-term annual return targets. The analyst emphasizes the company&#8217;s on-demand delivery collaboration with Uber, starting with a pilot in 5-6 Olive Garden units. This will expand to approximately 100 units in FQ2 ahead of the holidays, eventually launching at all Olive Garden locations with curbside to-go by the end of FY25. The partnership is set up as a first-party delivery model, and there are no plans to advertise on UberEats.
Piper Sandler: According to the analyst, the Uber partnership will begin with Olive Garden, the company&#8217;s largest brand, accounting for about 45% of revenue and 50% of segment profit in Fiscal Year 2024. Given Olive Garden&#8217;s significance to the company&#8217;s financial model, this could lead to an unexpected boost in Darden&#8217;s adjusted EPS, especially in the following year, prompting a positive reaction in the stock today.
Truist Securities: The analyst is optimistic about the widespread improvement in same-store sales (SSS) across Darden&#8217;s portfolio since July. This, along with more proactive marketing efforts and easier year-over-year comparisons in the second half of FY25, enhances the analyst&#8217;s confidence that the accelerating SSS and market share gains will bolster Darden&#8217;s premium valuation.
Price Action: DRI shares are trading lower by 1.41% to $169.85 at last check Friday.
Photo: Courtesy of Dutchmen Photography via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40957191/this-pepsico-analyst-is-no-longer-bullish-here-are-top-5-downgrades-for-friday" target="_blank" rel="noreferrer noopener">This PepsiCo Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Friday</a></li>
</ul>

Equities

Markets

Darden's Uber Partnership Fuels Optimism, Analysts See Market Share Gains And EPS Boost In FY25

WIIM

America Movil shares are trading lower after Scotiabank lowered its price target on the stock from $18.9 to $17.8.

AMAT

Applied Materials shares are trading lower after Mizuho lowered its price target on the stock from $245 to $225.

TechnipFMC shares are trading higher after the company announced it was rewarded two contracts by the Petrobas for Brazil's pre-salt fields. The first contract is between $250 million to $500 million and the second is ranges from $75 million to $250 million.

Investors with a lot of money to spend have taken a bullish stance on Starbucks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</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 SBUX, 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 8 uncommon options trades for Starbucks.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 25%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $130,757, and 4 are calls, for a total amount of $147,345.
<h3>What's The Price Target?</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $85.0 to $125.0 for Starbucks over the last 3 months. 
<h3>Analyzing Volume &amp; Open Interest</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 Starbucks'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 Starbucks's whale trades within a strike price range from $85.0 to $125.0 in the last 30 days. 
<h3>Starbucks 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726857591_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 style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SBUX</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>11/15/24</td>
<td>$13.6</td>
<td>$12.4</td>
<td>$13.05</td>
<td>$85.00</td>
<td>$48.2K</td>
<td>614</td>
<td style="text-align: right;">60</td>
</tr>
<tr>
<td>SBUX</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>10/18/24</td>
<td>$3.1</td>
<td>$3.0</td>
<td>$3.05</td>
<td>$95.00</td>
<td>$45.7K</td>
<td>8.1K</td>
<td style="text-align: right;">464</td>
</tr>
<tr>
<td>SBUX</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/18/26</td>
<td>$10.35</td>
<td>$9.75</td>
<td>$9.9</td>
<td>$85.00</td>
<td>$39.6K</td>
<td>550</td>
<td style="text-align: right;">40</td>
</tr>
<tr>
<td>SBUX</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/01/24</td>
<td>$5.75</td>
<td>$5.55</td>
<td>$5.55</td>
<td>$100.00</td>
<td>$33.3K</td>
<td>3</td>
<td style="text-align: right;">61</td>
</tr>
<tr>
<td>SBUX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/19/25</td>
<td>$12.35</td>
<td>$11.9</td>
<td>$11.9</td>
<td>$100.00</td>
<td>$32.1K</td>
<td>103</td>
<td style="text-align: right;">105</td>
</tr>
</tbody>
</table>

<h3>About Starbucks</h3>
Starbucks is one of the most widely recognized restaurant brands in the world, operating more than 38,000 stores across more than 80 countries as of the end of fiscal 2023. The firm operates in three segments: North America, international markets, and channel development (grocery and ready-to-drink beverage). The coffee chain generates revenue from company-operated stores, royalties, sales of equipment and products to license partners, ready-to-drink beverages, packaged coffee sales, and single-serve products.
Following our analysis of the options activities associated with Starbucks, we pivot to a closer look at the company's own performance.
<h3>Current Position of Starbucks</h3>
<ul>
<li>Trading volume stands at 5,259,380, with SBUX's price down by -0.09%, positioned at $96.81.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 41 days.</li>
</ul>
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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 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 Starbucks options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

SBUX

Check Out What Whales Are Doing With SBUX

High-rolling investors have positioned themselves bearish on Gilead Sciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>), and it's important for retail traders to take note. 
\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in GILD often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for Gilead Sciences. This is not a typical pattern.
The sentiment among these major traders is split, with 22% bullish and 55% bearish. Among all the options we identified, there was one put, amounting to $35,055, and 8 calls, totaling $278,552.
<h3>Expected Price Movements</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $75.0 to $87.5 for Gilead Sciences during the past quarter. 
<h3>Volume &amp; Open Interest Development</h3>
In today's trading context, the average open interest for options of Gilead Sciences stands at 445.5, with a total volume reaching 2,234.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Gilead Sciences, situated within the strike price corridor from $75.0 to $87.5, throughout the last 30 days.
<h3>Gilead Sciences Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726857586_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 style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>GILD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$8.9</td>
<td>$8.8</td>
<td>$8.8</td>
<td>$75.00</td>
<td>$41.2K</td>
<td style="text-align: right;">867</td>
<td style="text-align: right;">61</td>
</tr>
<tr>
<td>GILD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>10/18/24</td>
<td>$8.85</td>
<td>$8.75</td>
<td>$8.73</td>
<td>$75.00</td>
<td>$38.4K</td>
<td style="text-align: right;">867</td>
<td style="text-align: right;">343</td>
</tr>
<tr>
<td>GILD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$9.45</td>
<td>$8.8</td>
<td>$8.83</td>
<td>$75.00</td>
<td>$36.1K</td>
<td style="text-align: right;">867</td>
<td style="text-align: right;">141</td>
</tr>
<tr>
<td>GILD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$6.25</td>
<td>$6.15</td>
<td>$6.15</td>
<td>$87.50</td>
<td>$35.0K</td>
<td style="text-align: right;">24</td>
<td style="text-align: right;">58</td>
</tr>
<tr>
<td>GILD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>10/18/24</td>
<td>$8.75</td>
<td>$8.6</td>
<td>$8.6</td>
<td>$75.00</td>
<td>$34.3K</td>
<td style="text-align: right;">867</td>
<td style="text-align: right;">506</td>
</tr>
</tbody>
</table>

<h3>About Gilead Sciences</h3>
Gilead Sciences develops and markets therapies to treat life-threatening infectious diseases, with the core of its portfolio focused on HIV and hepatitis B and C. Gilead's acquisition of Pharmasset brought rights to hepatitis C drug Sovaldi, which is also part of newer combination regimens that remain standards of care. Gilead is also growing its presence in the oncology market via acquisitions, led by CAR-T cell therapy Yescarta/Tecartus (from Kite) and breast and bladder cancer therapy Trodelvy (from Immunomedics).
After a thorough review of the options trading surrounding Gilead Sciences, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Gilead Sciences's Current Market Status</h3>
<ul>
<li>Trading volume stands at 7,413,669, with GILD's price down by -0.71%, positioned at $83.31.</li>
<li>RSI indicators show the stock to be may be overbought.</li>
<li>Earnings announcement expected in 48 days.</li>
</ul>
<h3>What The Experts Say On Gilead Sciences</h3>
4 market experts have recently issued ratings for this stock, with a consensus target price of $77.25.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Consistent in their evaluation, an analyst from RBC Capital keeps a Sector Perform rating on Gilead Sciences with a target price of $74. 
&#x2A; Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Neutral with a new price target of $70. 
&#x2A; An analyst from Piper Sandler has decided to maintain their Overweight rating on Gilead Sciences, which currently sits at a price target of $95. 
&#x2A; An analyst from Cantor Fitzgerald has revised its rating downward to Neutral, adjusting the price target to $70. 
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 Gilead Sciences options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

GILD

Gilead Sciences Unusual Options Activity For September 20

Deep-pocketed investors have adopted a bearish approach towards AppLovin (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in APP usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for AppLovin. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 36% leaning bullish and 54% bearish. Among these notable options, 5 are puts, totaling $699,984, and 6 are calls, amounting to $278,842.
<h3>What's The Price Target?</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $100.0 and $140.0 for AppLovin, 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 AppLovin'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 AppLovin's whale trades within a strike price range from $100.0 to $140.0 in the last 30 days. 
<h3>AppLovin Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726857580_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>APP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$7.4</td>
<td>$7.2</td>
<td>$7.37</td>
<td>$110.00</td>
<td>$283.9K</td>
<td>640</td>
<td>416</td>
</tr>
<tr>
<td>APP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$13.6</td>
<td>$13.5</td>
<td>$13.5</td>
<td>$130.00</td>
<td>$182.2K</td>
<td>19</td>
<td>0</td>
</tr>
<tr>
<td>APP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$8.6</td>
<td>$8.4</td>
<td>$8.4</td>
<td>$120.00</td>
<td>$168.0K</td>
<td>403</td>
<td>268</td>
</tr>
<tr>
<td>APP</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$28.2</td>
<td>$27.5</td>
<td>$27.6</td>
<td>$105.00</td>
<td>$69.0K</td>
<td>1.8K</td>
<td>27</td>
</tr>
<tr>
<td>APP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$1.2</td>
<td>$1.15</td>
<td>$1.15</td>
<td>$125.00</td>
<td>$56.2K</td>
<td>9.5K</td>
<td>1.2K</td>
</tr>
</tbody>
</table>

<h3>About AppLovin</h3>
AppLovin Corp is a mobile app technology company. It focuses on growing the mobile app ecosystem by enabling the success of mobile app developers. The company's software solutions provide tools for mobile app developers to grow their businesses by automating and optimizing the marketing and monetization of their applications.
In light of the recent options history for AppLovin, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Where Is AppLovin Standing Right Now?</h3>
<ul>
<li>With a trading volume of 2,364,096, the price of APP is up by 1.23%, reaching $125.53.</li>
<li>Current RSI values indicate that the stock is may be overbought.</li>
<li>Next earnings report is scheduled for 47 days from now.</li>
</ul>
<h3>Expert Opinions on AppLovin</h3>
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $127.2.
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&#x2A; An analyst from Citigroup persists with their Buy rating on AppLovin, maintaining a target price of $155. 
&#x2A; An analyst from B of A Securities has decided to maintain their Buy rating on AppLovin, which currently sits at a price target of $120. 
&#x2A; Showing optimism, an analyst from UBS upgrades its rating to Buy with a revised price target of $145. 
&#x2A; An analyst from BTIG has decided to maintain their Buy rating on AppLovin, which currently sits at a price target of $150. 
&#x2A; Maintaining their stance, an analyst from Benchmark continues to hold a Sell rating for AppLovin, targeting a price of $66. 
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 AppLovin options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

This Is What Whales Are Betting On AppLovin

This week has been a bit down in general and in regards to the technology sector, particularly companies focused on <a href="https://www.benzinga.com/topic/artificial-intelligence">artificial intelligence (AI),</a> has once again taken front and center stage in the stock market. Industry giants like Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), <a href="https://www.benzinga.com/quote/MSFT">Microsoft </a>(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) have seen their stocks experience notable fluctuations, driven by a mix of optimism around AI&#8217;s potential and concerns over high valuations.
In recent months, AI has become one of the hottest trends on Wall Street. With tech companies integrating AI into various products and services, investors are eager to capitalize on this technological revolution. However, the enthusiasm is also being met with caution as analysts weigh the sustainability of current valuations and where this market my be headed. .
<h3 class="wp-block-heading">Nvidia&#8217;s Continued AI Boom Seems To Be Neverending</h3>
<h4 class="wp-block-heading">Strong Demand For AI Chips</h4>
One of the biggest players in the AI space, Nvidia, has been benefiting significantly from the high demand for its graphics processing units (GPUs). These chips are essential in powering advanced AI systems, including those used in machine learning and neural networks. Nvidia's position as a leader in AI chips has been solidified as companies and institutions increasingly adopt AI technologies and the need for companies to show they are utilizing advancements in AI is strong.
That being said, this surge in demand comes with its own set of challenges. While Nvidia's stock has soared throughout 2023, this week has seen increased volatility, which has lead to concerns about whether the company's stock price can continue to rise at such a rapid pace. Some analysts are beginning to voice caution, noting that the stock may be overvalued in the short term, even if the long-term outlook remains strong.
<h4 class="wp-block-heading">Valuation Concerns</h4>
Despite Nvidia's dominance, the company&#8217;s high stock price is attracting skepticism. Investors are concerned about whether Nvidia&#8217;s current valuation is justified or whether the stock has surged too far, too fast. Many see the current price as a reflection of market hype around AI rather than the company&#8217;s actual financial performance.
<h3 class="wp-block-heading">Microsoft and OpenAI partnership</h3>
<h4 class="wp-block-heading">Expanding AI Services</h4>
Microsoft is another tech giant that has ridden the AI wave, particularly through its investment in OpenAI, the company behind ChatGPT. Microsoft has not only integrated AI into its own product offerings but has also enabled other businesses to access powerful AI tools through its cloud services. As a result, <a href="https://www.benzinga.com/news/24/09/40931968/microsofts-linkedin-in-hot-water-for-allegedly-using-data-of-users-for-training-ai-before-updating-t">Microsoft's </a>stock has continued to perform well, benefiting from the excitement surrounding AI's practical applications in industries ranging from healthcare to finance.
<h4 class="wp-block-heading">Market Response</h4>
This week, Microsoft's stock has seen steady movement, driven by announcements of further AI integration into its cloud infrastructure and software services. Microsoft's dominance in both cloud computing and AI has put it in a position to lead the market, but as with Nvidia, there are concerns about whether the stock is overvalued due to AI hype.
<h3 class="wp-block-heading">Alphabet's Role in the AI Race</h3>
<h4 class="wp-block-heading">Google's AI Innovations</h4>
Not to be outdone, Alphabet (Google) is also a major player in the AI space. Google's work on AI technologies such as Google Bard and AI-driven search algorithms has kept the company in the spotlight. This week, Alphabet has faced a mix of optimism and caution. On one hand, the company is expected to remain a key player in AI for years to come. On the other, like Nvidia and Microsoft, Alphabet is grappling with regulatory concerns and skepticism about overvaluation.
<h4 class="wp-block-heading">Regulation And Oversight</h4>
The increasing reliance on AI has attracted the attention of governments worldwide. Alphabet, along with other tech giants, faces growing pressure to ensure that AI is developed and deployed responsibly. Concerns around data privacy, AI's potential to disrupt industries, and the ethical implications of AI-driven decision-making are hot topics. As a result, Alphabet's stock, while generally positive this week, has been influenced by regulatory discussions.
<h3 class="wp-block-heading">Conclusion: Volatility And Opportunity</h3>
This week's movements in AI stocks reflect the broader uncertainty in the tech market. While companies like Nvidia, Microsoft, and Alphabet are positioned to lead the AI revolution, investors must weigh the risks of overvaluation and the potential for regulatory changes against the long-term benefits AI is poised to deliver.
The story of AI in tech stocks is far from over, and as the technology continues to evolve, so too will the market's reaction. For now, both excitement and caution remain key themes in this rapidly developing space.

GOOGL

NVDA

The Ups And Downs Of AI Stocks This Week

Vistra shares are trading higher after BMO Capital raised its price target on the stock from $120 to $125. The stock is also moving higher in sympathy with the nuclear and uranium industry.

Insider Trades

GLMD

Masaya Otsuka Reported a 9.9% Passive Stake In Galmed Pharmaceuticals In A 13G Filing

ENFN

Enfusion shares are trading higher after the company announced it is interviewing investment banks to explore options including a potential sale.

It has been about a month since the last earnings report for Zoom Video Communications (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zm#NASDAQ">ZM</a>). Shares have lost about 1.7% in that time frame, underperforming the S&amp;P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Zoom Video due for a breakout? Before we dive into how investors and analysts have reacted as of late, let&#39;s take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
<h3>Zoom Q2 Earnings Beat, Enterprise Customers Drive Revenues</h3>
Zoom&#39;s second-quarter fiscal 2025 adjusted earnings of $1.39 per share beat the Zacks Consensus Estimate by 14.88% and increased 3.73% year over year.
Revenues of $1.16 billion beat the consensus mark by 1.22% and increased 2.09% year over year on strong growth from Enterprise customers. Adjusting for foreign currency impact, revenues in constant currency were $1.166 billion, up 2.4% year over year.
<h3>Quarter Details</h3>
Enterprise revenues were $682.8 million, up 3.5% year over year and represented 58.7% of total revenues. Customers contributing more than $100,000 in revenues in the trailing 12 months grew 7% to 3,933. These customers accounted for 31% of revenues, up from 29% in the year-ago quarter.
In the fiscal second quarter, as part of an effort to improve the customer experience and drive greater efficiency in operations, the company transitioned 26,800 Enterprise customers with low annualized revenue run rate&nbsp;to Online.
The number of Enterprise customers at the end of the second quarter, after accounting for the transition, was approximately 191,600.
The company reported a trailing 12-month net dollar expansion rate for Enterprise customers of 98%.
As of the end of the quarter under review, the cumulative number of Zoom Rooms licenses purchased was more than 2 million.
In the quarter, Zoom saw amazing traction with Workvivo as it reached 69 customers with more than $100,000 in ARR, roughly doubling year over year. Workvivo was named Meta Platform&#39;s only preferred migration partner for its customers as it retires Workplace from Meta.
ZM witnessed additional traction in Zoom Contact Center as it surpassed 1,100 Zoom Contact Center customers, representing more than 100% year-over-year growth. This was driven by its recently launched higher pricing tiers as well as its success in larger deals.
The company now has five customers with 100,000 or more Zoom Phone seats. Zoom AI Companion has grown significantly with more than 1.2 million customer accounts enabled as of date.
<h3>Non-GAAP Operating Details</h3>
Non-GAAP gross margin in the fiscal second quarter was 78.6%, which was slightly lower than 80.3% in the year-ago period, mainly due to investments in AI innovation.
Research and development expenses increased 7.8% year over year to $206.7 million. Sales and marketing expenses declined 3.9% to $358.7 million, while general and administrative expenses plunged 15.3% to $109.5 million.
Operating income rose 13.9% to $202.37 million year over year. The operating margin came in at 17.6% compared with the year-ago quarter&#39;s operating margin of 15.9%.
<h3>Balance Sheet</h3>
Total cash, cash equivalents and marketable securities, as of Jul 31, 2024, were $7.5 billion.&nbsp; As of Apr 30, 2024, cash, cash equivalents and marketable securities were $7.4 billion.
Net cash provided by operating activities was $449.3 million for the fiscal second quarter, up 33.7% year over year. Free cash flow was $365.1 million, up 26.2% year over year.
<h3>Guidance</h3>
Zoom expects third-quarter fiscal 2025 revenues between $1,162 million and $1,165 million.
Non-GAAP earnings per share are expected in the range of $1.29-$1.31.
For fiscal 2025, Zoom expects revenues in the range of $4.63-$4.64 billion.
Non-GAAP earnings per share are expected in the band of $5.29-$5.32.
<h2>How Have Estimates Been Moving Since Then?</h2>
It turns out, fresh estimates have trended upward during the past month.
The consensus estimate has shifted 12.46% due to these changes.
<h2>VGM Scores</h2>
At this time, Zoom Video has an average Growth Score of C, however its Momentum Score is doing a lot better with an A. However, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of B. If you aren&#39;t focused on one strategy, this score is the one you should be interested in.
<h2>Outlook</h2>
Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Zoom Video has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
<h2>Performance of an Industry Player</h2>
Zoom Video is part of the Zacks Internet - Software industry. Over the past month, HubSpot (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hubs#NYSE">HUBS</a>), a stock from the same industry, has gained 6.7%. The company reported its results for the quarter ended June 2024 more than a month ago.
HubSpot reported revenues of $637.23 million in the last reported quarter, representing a year-over-year change of +20.4%. EPS of $1.94 for the same period compares with $1.34 a year ago.
For the current quarter, HubSpot is expected to post earnings of $1.89 per share, indicating a change of +18.9% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for HubSpot. Also, the stock has a VGM Score of B.
<a href="https://www.zacks.com/stock/news/2339316/zoom-video-zm-down-1-7-since-last-earnings-report-can-it-rebound?cid=CS-BENZ-FT-realtime_blog-2339316">To read this article on Zacks.com click here.</a>

Earnings

Earnings Beats

Large Cap

Guidance

Small Cap

HUBS

Zoom Video Down 1.7% Since Last Earnings Report: Can It Rebound?

Equifax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFX#NYSE">EFX</a>) has outperformed the market over the past 20 years by 4.48% on an annualized basis producing an average annual return of 12.97%. Currently, Equifax has a market capitalization of $37.39 billion. 
Buying $1000 In EFX: If an investor had bought $1000 of EFX stock 20 years ago, it would be worth $11,290.99 today based on a price of $302.19 for EFX at the time of writing.
<h3>Equifax's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726857087_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In This Stock 20 Years Ago Would Be Worth $11,000 Today

Deckers Outdoor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>) has outperformed the market over the past 20 years by 16.43% on an annualized basis producing an average annual return of 24.91%. Currently, Deckers Outdoor has a market capitalization of $22.82 billion. 
Buying $1000 In DECK: If an investor had bought $1000 of DECK stock 20 years ago, it would be worth $85,940.67 today based on a price of $149.68 for DECK at the time of writing.
<h3>Deckers Outdoor's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726857082_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

DECK

Here's How Much $1000 Invested In Deckers Outdoor 20 Years Ago Would Be Worth Today

Despite a wider market pullback, the <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40930136/expert-says-the-future-of-defi-will-be-shaped-by-fintechs-like-revolut-and-robinhood-not-w">total value locked (TVL) in DeF</a>i on Core (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">CORE</a>), Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) Layer-2 blockchain, has grown significantly in the second quarter of 2024.
What Happened: According to a Messari report, Core&#8217;s DeFi TVL grew by 1,032% in Q2, reaching $76.4 million. The blockchain&#8217;s native decentralized exchange (DEX) CoreX outperformed SushiSwap, a multi-chain DEX.
Non-custodial bitcoin staking, launched on Core's platform in April, saw 3,504 BTC, equivalent to $215 million, staked in Q2, broadening investor access and exposure to Core.
Valour, a subsidiary of DeFi Technologies, introduced a unique yield-bearing Core BTC exchange-traded product (ETP) to German investors on the Frankfurt stock exchange in June. This initiative offers users a 5.65% yield in addition to Bitcoin exposure.
Core and Valour have since listed other BTC ETPs on Sweden's Spotlight Stock Market and the London Stock Exchange.
<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/24/09/40734905/blockchain-core-foundation-launches-liquid-staking-token-pegged-against-bitcoin">Blockchain Core Foundation Launches Liquid Staking Token Pegged Against Bitcoin</a>
Why it Matters: Secured by and aligned with Bitcoin, Core&#8217;s blockchain is unlocking over $1.25 trillion in trapped Bitcoin liquidity. The platform hosts over 100 Dapps, enabling Bitcoin holders to utilize their Bitcoin in innovative ways.
The significant growth in DeFi TVL and the introduction of non-custodial BTC staking underscore Core&#8217;s commitment to providing diverse investment opportunities and enhancing investor access. 
The listing of BTC ETPs on various stock exchanges also reflects Core&#8217;s expanding global presence and its efforts to offer investors yield-bearing opportunities in addition to Bitcoin exposure.
Rich Rines, an Initial Contributor to Core, noted that demand for Bitcoin staking and Core DeFi is increasing, commenting, &#8220;The first quarter with live Non-Custodial Bitcoin Staking represents a new epoch for Bitcoin, powered by Core.&#8221; 
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;
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It has been about a month since the last earnings report for Wolfspeed (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wolf#NYSE">WOLF</a>). Shares have lost about 31.3% in that time frame, underperforming the S&amp;P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Wolfspeed due for a breakout? Before we dive into how investors and analysts have reacted as of late, let&#39;s take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
<h3>Wolfspeed Reports Loss in Q4 Earnings, Revenues Down Y/Y</h3>
Wolfspeed reported a fourth-quarter fiscal 2024 non-GAAP loss of 89 cents per share, wider than the Zacks Consensus Estimate of a loss of 84 cents per share but narrower than the year-ago quarter&#39;s loss of 36 cents per share.
Revenues of $200.7 million decreased 1% year over year but lagged the consensus mark by 0.2%. Mohawk Valley Fab contributed $41 million in revenues in the reported quarter.
Power Products accounted for 52.1%, while Materials Products contributed 47.9%. Power Products revenues decreased 2.3% year over year to $104.6 million. Materials Products revenues increased 0.5% year over year to $96.1 million.
Power device design-ins were $2 billion in the reported quarter. Quarterly design wins were $0.5 billion.
<h3>Wolfspeed&#39;s Operating Details</h3>
For the fiscal fourth quarter, Wolfspeed reported a non-GAAP gross margin of 5.4%, down from 30.7% reported in the year-ago quarter. Underutilization costs of $24 million negatively impacted gross margin in the reported quarter.
In the reported quarter, sales, general and administrative expenses were $60 million (29.9% of total revenues), up 37.6% year over year.
Research &amp; development expenses (30.7% of total revenues) increased 4.8% year over year to $61.6 million.
Wolfspeed incurred $20.5 million in factory start-up costs in the fourth quarter of fiscal 2024.
The company incurred a non-GAAP operating loss of $118.9 million, wider than the operating loss of $66.8 million in the year-ago quarter.
<h3>WOLF&#39;s Balance Sheet &amp; Cash Flow</h3>
As of Jun 30, 2024, WOLF had cash, cash equivalents and short-term investments of $2.17 billion compared with $2.55 billion as of Mar 31, 2024.
Long-term debt was $3.13 billion as of Jun 30, 2024.
Free cash outflow was $885.3 million, comprising $239.5 million of operating cash outflow and $644.2 million of capital expenditures.
<h3>Guidance</h3>
For first-quarter fiscal 2025, Wolfspeed expects revenues in the range of $185-$215 million. Non-GAAP loss is expected between 90 cents and $1.09 per share.
The company expects Mohawk Valley Fab to contribute nearly $20-$30 million in revenues in the first quarter of fiscal 2025.
It expects non-GAAP gross margin in the range of 13-20%. Non-GAAP operating expenses are expected to be $109 million, including $13 million of start-up costs.
<h2>How Have Estimates Been Moving Since Then?</h2>
In the past month, investors have witnessed a downward trend in fresh estimates.
The consensus estimate has shifted -11.14% due to these changes.
<h2>VGM Scores</h2>
At this time, Wolfspeed has a poor Growth Score of F, a grade with the same score on the momentum front. Following the exact same course, the stock was allocated a grade of F on the value side, putting it in the bottom 20% quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren&#39;t focused on one strategy, this score is the one you should be interested in.
<h2>Outlook</h2>
Estimates have been trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Wolfspeed has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
<a href="https://www.zacks.com/stock/news/2339315/why-is-wolfspeed-wolf-down-31-3-since-last-earnings-report?cid=CS-BENZ-FT-realtime_blog-2339315">To read this article on Zacks.com click here.</a>

WOLF

Why Is Wolfspeed Down 31.3% Since Last Earnings Report?

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