Wolfspeed (NYSE:WOLF) Stock, Quote.Headers.trade-ideas

Wolfspeed

Wolfspeed Inc is involved in the manufacturing of wide bandgap semiconductors. It is focused on silicon carbide and gallium nitride materials and devices for power and radio-frequency (RF) applications. The company serves applications such as transportation, power supplies, inverters, and wireless systems. Geographically, it derives a majority of its revenue from Europe and the rest from the United States, China, Hong Kong, Asia Pacific, and other regions.

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It has been about a month since the last earnings report for Wolfspeed (NYSE: WOLF). Shares have lost about 31.3% in that time frame, underperforming the S&amp;P 500.

Why Is Wolfspeed Down 31.3% Since Last Earnings Report?

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Tech stocks kicked off the week on the negative note, driven lower by concerns over weaker-than-expected demand for Apple Inc. (NASDAQ:AAPL)’s latest iPhone 16 mo

Nasdaq 100 Falls As Apple Weighs On Chipmakers; Bonds Rise As Investors Eye 0.5% Rate Cut: What&#39;s Driving Markets Monday?

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On Friday, Wall Street experienced a strong &#34;risk-off&#34; session, with the S&amp;P 500 closing 1.7% lower. This extended the weekly loss to 4.1%.

S&amp;P 500 Suffers Largest Weekly Drop Since March 2023 Banking Crisis, Chipmakers Notch Worst Week In Over Four Years

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Betting odds between Vice President Kamala Harris and former President Donald Trump remain almost identical in the weeks since the Sept. 10 debate and as the countdown to<a href="https://www.benzinga.com/topic/2024-election"> 2024 election day nears one month.</a>
What Happened: Election polls <a href="https://www.benzinga.com/topic/election-poll">show a close race</a> between Trump and Harris, particularly in key swing states.
Betting odds and prediction markets have shown Harris in the lead for the race to the White House since the presidential debate between the two candidates and she continues to hold the betting lead.
The betting odds are near even between the two candidates at Bet365, as reported by <a href="https://www.covers.com/politics/us-election-betting-odds">Covers</a>. These betting odds translate to around a 55.6% chance of Harris winning the election and implied odds of 50% of Trump winning the election — just to illustrate how close the election remains.
The latest betting odds are the same as they were <a href="https://www.benzinga.com/general/sports-betting/24/09/40823510/trump-vs-harris-2024-election-betting-odds-show-love-story-for-vice-president-after-debate">two weeks ago,</a> which comes with Harris still showing strength in election polls.
For comparison, Trump was the favorite at odds of -125 and Harris was listed at +100 back in August.
Polymarket, which calls itself the world's largest prediction market, offers betting on items in categories such as politics, sports, cryptocurrency, pop culture and more.
The Polymarket 2024 election outcome winner <a href="https://polymarket.com/event/presidential-election-winner-2024?tid=1727125645264">market </a>has over $989 million in wagers placed and continues to be one of the most popular markets. The current odds show Harris with a 51% chance of winning and Trump at a 48% chance of winning.
On Polymarket, users can deposit funds using USDC (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>) via the Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/matic/usd">MATIC</a>) network, or directly from a crypto account with Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>). In each betting market, the winning option pays out at $1.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent092324">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: Trump has mostly been in the lead on Polymarket, with Harris remaining close and sometimes taking the lead. Trump held a lead of eight points ahead of the debate before the two candidates ended up tied after the debate and shortly after.
Two weeks ago, Trump still had a lead on Polymarket, but saw the lead quickly disappear. After Harris took a stronger lead on Polymarket, Trump saw his odds<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40945847/donald-trump-now-trails-kamala-harris-by-4-points-after-9-point-election-odds-turnaround-i"> come roaring back.</a>
A <a href="https://www.benzinga.com/news/24/09/40872269/fbi-investigating-trumps-second-assassination-attempt-authorities-detain-pro-ukraine-construction-co">second assassination attempt </a>on Trump in mid-September didn't improve the former president's odds. This may be a slight surprise to those who have followed the betting odds. An assassination attempt on Trump in Pennsylvania led to the former president becoming a huge favorite at -250 with then presidential candidate Joe Biden at +500 and Harris at +800.
The odds remaining consistent over the past two weeks could also be a surprise after <a href="https://www.benzinga.com/news/24/09/40972774/trump-says-no-to-another-run-if-he-loses-2024-election-to-kamala-harris-hopefully-were-going-to-be-s">Trump recently said</a> he doesn't plan on running in the 2028 election if he loses to Harris in the 2024 election.
"I don't see that at all. I think that, hopefully, we're going to be successful," Trump said of the 2024 election.
Following the<a href="https://www.benzinga.com/general/sports-betting/24/07/39868243/2024-election-betting-odds-joe-biden-has-8-chance-of-winning-according-to-sportsbooks-pred" target="_blank" rel="noreferrer noopener">&nbsp;first presidential debate</a>, Trump had odds of -175, with Harris at +400 topping the odds of Biden at +800 before his withdrawal from the race.
In&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39625294/2024-election-betting-odds-react-to-biden-debate-disaster-trump-odds-hit-all-time-high-kam" target="_blank" rel="noreferrer noopener">late June</a>, Trump was listed with odds of -188 with Biden at +350 and Harris significantly behind at +2,200.
Keep in mind that back in January 2021, it was Harris who was the favorite to win the 2024 election with odds of +350 based on the plan that Biden would not run for re-election. Biden and Trump trailed Harris at the time at odds of +400 and +650, respectively.
Harris has closed the gap between the Democratic and Republican parties and her debate performance now made it more likely that she could win the 2024 election.
A recent Morning Consult poll showed Harris with a<a href="https://www.benzinga.com/general/politics/24/09/40805945/harris-vs-trump-vice-president-holds-3-point-lead-ahead-of-presidential-debate-but-swing-states-" target="_blank" rel="noreferrer noopener">&nbsp;six-point lead&nbsp;</a>over Trump among nationally registered voters who are likely to vote in the upcoming election.
Check This Out:
<ul>
<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent092324">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
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Trump Vs. Harris: 2024 Election Betting Odds Show Vice President Maintains Lead As Race Nears One-Month Mark

Online furniture retailer Wayfair Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>) said on Monday that it is <a href="https://www.benzinga.com/news/24/09/40970727/federal-reserves-bold-rate-cut-retail-sales-rise-and-more-this-week-in-economics">offering $700 million</a> in secured notes to repay some of its debt, joining other companies&#8217; run to the debt markets less than a week after the Federal Reserve cut interest rates for the first time in four years.
The Fed lowered its key interest rate on Wednesday by an unexpected 50 basis points to a range between 4.75% and 5%, setting in motion an expected gradual decrease in rates on bonds, car loans, mortgages and anything else with an interest rate.
Wayfair said the proceeds from the notes, which will mature in 2029, go towards paying back certain convertible senior notes and general corporate purposes.
Read Also: <a href="https://www.benzinga.com/news/24/09/40969943/fed-rate-cut-fuels-market-rally-amidst-valuation-fears">Fed Rate Cut Fuels Market Rally Amidst Valuation Fears</a>
Wayfair is not alone in its dash for debt as 10 high-grade issuers — including TMobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) — are looking to raise money from borrowing in the junk-bond market, a flurry that could result in $20 billion to $25 billion in deals this week, Bloomberg<a href="https://www.bloomberg.com/news/articles/2024-09-23/us-companies-are-ready-to-borrow-billions-following-fed-rate-cut?srnd=homepage-americas&amp;sref=TBDibEcD"> reported</a>.
The average yield in the U.S. investment-grade and high-yield bond markets fell after the Fed rate cut, enticing issuers into the market.
Cigarette-filter maker Cerdia Holdings issued $800 million in debt to refinance notes due 2027 and pay for a shareholder distribution.
Australian coal miner Coronado Global Resources (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CODQL#OTC">CODQL</a>) launched a $400 million offer to redeem its 2026 notes, while U.S.-based telecommunications company Windstream Holdings, Inc. put together a $1.3 billion debt package through the loan and bond markets to refinance loans.
Price Action: Investment banks that underwrite corporate bonds saw gains and losses on Monday.
<ul>
<li>Charles Schwab Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) declined 0.7% to close at $64.93</li>
<li>JPMorgan &amp; Chase Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) rose 0.17% to close at $211.44</li>
<li>Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) slipped 0.2% to close at $497.41</li>
</ul>
Read Now:
<ul>
<li><a href="https://www.benzinga.com/economics/24/09/40965570/fed-rate-cut-may-drive-investors-away-from-money-markets-says-portfolio-manager">Fed Rate Cut May Drive Investors Away From Money Markets, Says Portfolio Manager</a></li>
</ul>
Photo: Shutterstock

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SCHW

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Companies Run To Bond Markets After Last Week's Fed Rate Cut

Chicago Federal Reserve President Austan Goolsbee hinted at a series of interest rate cuts over the next 12 months in a discussion at the Economic Club <a href="https://www.benzinga.com/topic/federal-reserve">of Minnesota on Monday. </a>
&#8220;We have a long way to come down to get the interest rate to something like neutral,&#8221; Goolsbee said, suggesting that the Fed is preparing to shift away from its current restrictive stance to support economic conditions as the key focus shifts from inflation to the labor market. 
Goolsbee warned a 0.7% increase in unemployment within a year is typically a precursor to a recession, noting that labor market deterioration often happens rapidly.
While acknowledging unemployment is on an upward trajectory, he highlighted that the overall rate remains relatively low, and the Fed remains watchful of the balance between inflation risks and employment trends.
&#8220;At this time, there&#8217;s little evidence that inflation is stalling out at 3%,&#8221; Goolsbee added, underscoring the Fed's commitment to managing inflation risks without undermining the labor market.
&#8220;There are some warning signs, but the economy still has underlying strength,&#8221; Goolsbee said. He highlighted recent upticks in unemployment primarily reflect an increase in labor force participation, with payrolls continuing to grow and consumer spending holding steady.
Interest rate futures are currently pricing in nearly equal odds of a 25 or 50 basis point cut at the Fed's November meeting, according to the CME FedWatch tool.
U.S. Treasury bonds edged lower on Monday, with the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) slipping 0.2% by the close of trading.
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<iframe loading="lazy" title="Q&amp;A with Austan Goolsbee at the Economic Club of Minnesota" width="500" height="281" src="https://www.youtube.com/embed/gzdEy4LFct4?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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<h1 class="wp-block-heading">Fitch Ratings See Only &#8216;Modest&#8217; Rate Cuts Ahead</h1>
The Federal Reserve&#8217;s easing cycle is expected to be &#8220;modest&#8221; compared to historical rate-cutting episodes, despite the surprising 50-basis-point reduction at last week's FOMC meeting. 
Fitch Ratings now forecasts the federal funds rate to fall to 4.5% by the end of 2024, and further to 3.5% by the close of 2025. By mid-2026, the rate could stabilize at a neutral level of 3.0%.
Fitch Ratings expects the Fed to implement a 25-basis-point rate cut in both November and December 2024, followed by four additional 25-basis-point cuts through 2025. The agency anticipates that the Fed will lower rates at alternating FOMC meetings next year, signaling a gradual approach to easing monetary policy.
Despite the anticipated cuts, Fitch does not foresee a sharp decline in the U.S. job market. Instead, the agency believes the labor market's current softness is part of a natural recovery in the workforce after the volatility of the past 12-18 months.
With payroll growth continuing and consumer demand holding up, the Fed's cautious approach appears to be aimed at managing economic risks without triggering a sharp downturn.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/asia/24/09/40986319/chinese-stocks-defy-bidens-auto-import-ban-concerns-rally-to-4-month-highs-as-central-bank-unexpecte">Chinese Stocks Defy Biden&#8217;s Auto Import Ban Concerns, Rally To 4-Month Highs As Central Bank Unexpectedly Slashes Interest Rates</a></li>
</ul>
Photo: Shutterstock

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Treasuries

iShares Trust Barclays 20+ Year Treasury Bond Fund

Fed's Goolsbee Signals Multiple Rate Cuts Ahead, Cites Recession Warning Signs As Unemployment Rises

Boeing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) shares are moving higher on Monday. The stock appears to be getting a lift after the company sent a new <a href="https://www.benzinga.com/news/24/09/40913789/boeing-and-its-largest-union-return-to-table-with-federal-mediators-after-30k-workers-strike-over-fa">labor deal offer to its striking workers</a>.
What Happened: According to a Wall Street Journal <a href="https://www.wsj.com/business/boeing-strike-union-offer-raises-3881ce87?mod=hp_lead_pos3">report</a>, Boeing on Monday made a new offer to its machinist union workers who voted to <a href="https://www.benzinga.com/markets/equities/24/09/40784605/boeing-labor-deal-sparks-anger-among-union-workers-ahead-of-crucial-vote-theyre-angry">go on strike 11 days earlier</a>. 
The proposal comes as Boeing ramps up efforts to end a walkout that&#8217;s costing the planemaker hundreds of millions of dollars each week. 
The report indicates that Boeing&#8217;s new proposal includes a 30% pay increase over the next four years, up from the 25% increase the company offered in its prior deal. The new deal would also double the ratification bonus to $6,000, reinstate annual bonuses Boeing had planned to eliminate and increase company contributions to retirement plans. 
Boeing said it would continue with its commitment to make its next new airplane in the unionized Pacific Northwest. The company reportedly told workers they have until Sept. 27 to ratify the deal.
Check This Out: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40987087/us-stocks-stall-gold-updates-record-highs-tesla-rallies-whats-driving-markets-monday">US Stocks Stall, Gold Updates Record Highs, Tesla Rallies: What&#8217;s Driving Markets Monday?</a>
Thirty-three thousand machinist union employees walked out on Boeing on Sept. 13 after rejecting a labor deal that they said did not address members&#8217; main concerns. The two sides briefly <a href="https://www.benzinga.com/news/24/09/40913789/boeing-and-its-largest-union-return-to-table-with-federal-mediators-after-30k-workers-strike-over-fa">began negotiating terms again</a> last week before talks were halted on Wednesday.
Union leaders are reportedly asking for a 40% pay increase over four years. The workers are also attempting to win back pensions that were eliminated in 2014, although they have acknowledged the need for a compromise. The report indicates that Boeing&#8217;s new offer doesn&#8217;t include anything about restoring pensions.
BA Price Action: <a href="http://benzinga.com/quote/ba">Boeing shares</a> were up 1.96% at market close Monday. Despite Monday&#8217;s lift, the stock is still down about 10% over the past month, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Read Next: •<a href="https://www.benzinga.com/etfs/sector-etfs/24/09/40990914/oil-falls-energy-stocks-flat-as-fears-of-demand-drop-off-eclipse-israel-hezbollah-conflict-escal"> Oil Falls, Energy Stocks Flat As Fears Of Demand Drop Eclipse Israel-Hezbollah Conflict Escalation</a>
Photo: Shutterstock.

Movers

Boeing Stock Climbs As Company Sweetens Labor Deal: What You Need To Know

Jefferies analyst Jonathan Matuszewski maintains Beyond (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYON#NYSE">BYON</a>) with a Hold and lowers the price target from $14 to $11.

Price Target

BYON

Jefferies Maintains Hold on Beyond, Lowers Price Target to $11

Lael Brainard, <a href="https://widgets.benzinga.com/topic/lael-brainard">the former vice chair of the Federal Reserve and current director of the National Economic Council</a>, spoke at a Detroit Economic Club event Monday and discussed the current economic climate and why inflation has remained sticky. 
While she acknowledged that inflation has fallen from its 40-year highs, housing and rental prices are still more expensive than what many Americans are comfortable. Brainard was asked by moderator Glenn Stevens, executive director MichAuto, what her current view of the economy is. Brainard discussed the fact that the unemployment rate is historically low as a sign of strength but acknowledged inflation is still above the Fed's target of 2%. Read Also: <a href="https://www.benzinga.com/markets/asia/24/09/40987608/biggest-risk-for-us-autos-biden-advisor-outlines-steps-to-counter-chinese-influence-on-the-industry">Biggest Risk For U.S. Autos? Biden Advisor Outlines Steps To Counter Chinese Influence On The Industry</a>
She pointed to shelter and housing as one particular area where inflation has remained tricky, but explained how the country may go about tackling that problem moving forward. Brainard said the U.S. needs to build three million new housing units to level out supply and demand, bringing prices lower. "Housing to be our next big focus, we have tried to get Congress to work with us on low-income house tax credits they are vital," Brainard said. &#8220;Unfortunately, that bill would have created another 200,000 units [but] that bill was blocked." Brainard said the Federal Reserve cutting interest rates by .5% was evidence it is comfortable with the current inflation trends. And while interest rate cuts could lead to lower mortgage rates and increased demand, it also makes it easier for homebuilders to create more homes.&nbsp;
"Now that the inflation challenge is receding, a more favorable interest rate environment will be good for residential construction," Brainard said. Read Next: • <a href="https://www.benzinga.com/trading-ideas/previews/24/09/40990382/kb-home-q3-earnings-preview-analysts-anticipate-revenue-growth-will-investors-hear-about-r">KB Home Q3 Earnings Preview: Analysts Anticipate Revenue Growth — Will Investors Hear About Rate Cuts, 2024 Election?</a><a href="https://www.benzinga.com/trading-ideas/previews/24/09/40990382/kb-home-q3-earnings-preview-analysts-anticipate-revenue-growth-will-investors-hear-about-r"> </a>
Photo: Shutterstock

Government

General

Real Estate

US Needs To Do One Simple Thing To Bring Inflation Down, Says Former Vice Chair Of Federal Reserve

Citigroup analyst Daniel Grosslight maintains MultiPlan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPLN#NYSE">MPLN</a>) with a Neutral and lowers the price target from $17.2 to $10.

MPLN

Citigroup Maintains Neutral on MultiPlan, Lowers Price Target to $10

Citigroup analyst Asiya Merchant reinstates Hewlett Packard (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) with a Neutral and announces $20 price target.

Initiation

Citigroup Reinstates Neutral on Hewlett Packard, Announces $20 Price Target

Citigroup analyst Atif Malik reinstates Juniper Networks (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>) with a Neutral and announces $40 price target.

JNPR

Citigroup Reinstates Neutral on Juniper Networks, Announces $40 Price Target

Automotive parts retailer AutoZone Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZO#NYSE">AZO</a>) looks to keep its streak of earnings beats alive when the company reports fourth-quarter financial results before the market opens <a href="https://www.benzinga.com/earnings">Tuesday, Sept. 24.</a>
Earnings Estimates: Analysts expect AutoZone will report fourth-quarter earnings per share of $53.53, up from $46.46 in last year's fourth quarter, according to data<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092324&amp;t=be2bearmibe3na1"> from Benzinga Pro</a>.
The company has beaten earnings estimates from analysts in 19 straight quarters according to Benzinga Pro data.
Analysts expect the company to report fourth-quarter revenue of $6.22 billion, up from $5.69 billion in last year's fourth quarter.
The company has beaten revenue estimates from analysts in eight of the past 10 quarters, but missed estimates in two of the last three quarters.
What Analysts Are Saying: Fourth-quarter sales are likely to be in-line with analyst estimates for AutoZone, Truist analyst Scot Ciccarelli said in a recent investor note.
The analyst said concerns over currency exchange rates could limit the international comparable sales. The auto parts sector also remains "challenging," Ciccarelli added.
"Our data suggests that the beginning and end of the quarter were a bit softer, with relative strength in late June and July, but a reasonably steady cadence throughout," Ciccarelli said.
Ciccarelli also expects gross margins to improve 60 basis points year-over-year in the fourth quarter thanks to holding retail prices steady and being able to lower procurement costs.
"We remain aggressive buyers of AZO, think fundamentals are poised to reaccelerate and believe they will continue to take share over time in a highly favorable vertical.
Here are other recent analyst ratings on AutoZone and their price targets:
Evercore ISI: Maintained Outperform rating, lowered price target from $3,900 to $3,350
Wedbush: Reiterated Outperform rating with $3,200 price target
Read Also: <a href="https://www.benzinga.com/insights/options/24/09/40839962/spotlight-on-autozone-analyzing-the-surge-in-options-activity">Spotlight on AutoZone: Analyzing the Surge in Options Activity</a>
Key Items to Watch: Data from Placer.ai <a href="https://www.placer.ai/blog/auto-parts-retailers-the-traffic-continues">showed</a> AutoZone had visits increase 4.4% year-over-year during the second quarter of the calendar year. Visits were up 7.3%, 2.7% and 5.5% year-over-year for June, July and August, respectively.
The report said auto parts retailers such as AutoZone are "sustaining their pandemic-era success and benefitting from the increase in older cars on the road."
For AutoZone, the trend of repairing vehicles versus replacing them with new ones could continue to benefit the company, according to the report.
The company placed partial blame on the timing of tax refunds and the weather in the third quarter. While tax refunds won't be an item to watch in the fourth-quarter results, the weather could be.
"As we begin our all-important summer selling season, we are very excited about the initiatives we have in place to enhance our inventory availability, continue to accelerate our domestic commercial business and provide great customer service," CEO Phil Daniele said in the third-quarter results.
AZO Price Action: AutoZone stock closed Monday up 0.93%% to $3,048.82 on Monday versus a 52-week trading range of $2,375.35 to $3,256.37.
Read Next: 
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<li><a href="https://www.benzinga.com/exclusives/24/09/40962321/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">Benzinga&#8217;s &#8216;Stock Whisper&#8217; Index: 5 Stocks Investors Secretly Monitor But Don&#8217;t Talk About Ye</a>t</li>
</ul>
Photo: Ken Wolter via Shutterstock

Previews

Reiteration

AutoZone Q4 Earnings Preview: Data Shows Strong Visit Growth, Analyst Says Company To 'Continue To Take Share Over Time'

Jefferies analyst Anne Ling downgrades MINISO Group Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MNSO#NYSE">MNSO</a>) from Buy to Hold.

Downgrades

MNSO

Jefferies Downgrades MINISO Group Holding to Hold

Sunrun and Toll Brothers have an exclusive agreement for Sunrun to provide solar power as an included feature in all Toll Brothers homes in California, as well as a preferred agreement to provide solar for additional Toll Brothers divisions nationwide.
As part of the agreement, Sunrun will serve as a &quot;one-stop shop&quot; to provide solar as a standard feature in all Toll Brothers communities in California, including sales, design, permitting, installation, customer care, and warranty. Sunrun also provides home buyers with the choice of a third-party battery storage system, including EnPhase or the Tesla Powerwall 3, to integrate with their provided residential solar system.

Contracts

Toll Brothers Enters New National Partnership For Sunrun To Provide Solar Power And Storage To Homes

Jefferies analyst Keith Devas downgrades Perrigo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRGO#NYSE">PRGO</a>) from Buy to Hold and lowers the price target from $50 to $30.

PRGO

Jefferies Downgrades Perrigo to Hold, Lowers Price Target to $30

RAIR Technologies, an open-source platform for building decentralized Web3 applications, has been accepted into the Denarii Labs Accelerator, a competitive program aimed at helping early-stage Web3 companies develop and fine-tune their tokenomics. 
The 12-week accelerator program, led by RedBeard Ventures and supported by advisory firms such as Futureverse, will provide RAIR Technologies with strategic mentorship and guidance as it strengthens its core technology and token models, RAIR Technologies said in a statement to Benzinga.
Denarii Labs is known for offering support in tokenomics and launch strategies for Web3 startups, focusing on aligning business models with token structures that can drive sustainable growth. 
The accelerator's selection process is highly competitive, ensuring that only the most promising companies in the Web3 space are chosen. 
RAIR Technologies will use this opportunity to refine the tokenomics of its RAIRprotocol, a tool designed to enable decentralized application development, asset creation, and royalty tracking.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40989296/ethereum-outshines-bitcoin-after-u-s-federal-reserve-rate-cut-but-heres-how-volatility-cou">Ethereum Outshines Bitcoin After U.S. Federal Reserve Rate Cut, But Here&#8217;s How Volatility Could Crash The Party</a>
"We couldn't be more proud to be accepted into this unique and elite program for the Web3 industry," said Ed Prado, CEO of RAIR Technologies. "Denarii Labs will allow us to drill down on our tokenomics before we significantly expand both the technology and our partner base."
RAIR's acceptance into the program comes at a crucial time, as the company prepares to raise additional funding and explore new partnerships. 
With mentorship from industry leaders such as Coinbase Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), GSR and Omniscia, along with legal guidance from Fenwick &amp; West, RAIR Technologies will focus on refining its business model and investor readiness.
The company previously participated in Sony's accelerator program, which resulted in a partnership with Soneium, Sony's blockchain initiative.
These topics will be explored in depth at Benzinga's <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19, where industry experts will discuss the future of Web3, blockchain innovation and tokenomics in the decentralized economy.
Read Next: • <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40985125/bitcoins-on-chain-metrics-are-turning-bullish-what-is-going-on">Bitcoin&#8217;s On-Chain Metrics Are Turning Bullish: What Is Going On?</a>

COIN

RAIR Technologies Joins Denarii Labs Accelerator To Refine Web3 Tokenomics

Telegram's CEO Pavel Durov agreed to provide user IP addresses and phone numbers to authorities in response to valid <a href="https://www.benzinga.com/topic/law">legal requests</a>.
Following his arrest in France last month, Durov, who previously resisted government demands for user data, changed Telegram's terms of service to prevent criminals from exploiting the app, <a href="https://www.bloomberg.com/news/articles/2024-09-23/telegram-ceo-durov-says-app-to-provide-more-data-to-governments">per</a> Bloomberg's report.
French authorities allege Telegram, with its reputation for protecting privacy and using encryption, has become a hub for criminal activities. 
Durov, a dual French-Russian national, denied these charges, stating the misuse of technology should not be blamed on its creators. He remains prohibited from leaving the country after being released on a $5.5 million bail.
Amid legal troubles, Telegram has announced new measures to combat misuse of the platform. Durov revealed the company began using artificial intelligence and human moderation to filter problematic content from search results.
&#8220;We've already started this process internally,&#8221; he stated, adding that more details will be shared soon.
The European Union has been tightening regulations on encrypted communication, even debating proposals such as client-side or on-device scanning of private messages and photos — measures that Al Jazeera <a href="https://www.aljazeera.com/economy/2024/6/20/orwellian-eus-push-to-mass-scan-private-messages-on-whatsapp-signal">characterized</a> as "Orwelian."
Meredith Whittaker, president of Signal, reflected on such measures earlier this year, <a href="https://signal.org/blog/pdfs/upload-moderation.pdf">stating</a> &#8220;There is no way to implement such proposals without undermining encryption and creating vulnerabilities.&#8221;
Preston Bryne, a senior fellow at the Adam Smith Institute, raised concerns about the broader implications of Durov's case for online censorship.
&#8220;European states are trying to dictate to foreign companies what content they can and cannot host,&#8221; he <a href="https://prestonbyrne.com/2024/08/24/thoughts-on-the-durov-arrest/">noted</a>, likening the situation to selective enforcement targeting political adversaries.
French President Emmanuel Macron dismissed those allegations calling them "a part of an independent investigation," <a href="https://www.lemonde.fr/en/pixels/article/2024/08/28/telegram-ceo-pavel-durov-formally-indicted-prohibited-from-leaving-france_6722943_13.html">per</a> Le Monde.
This decision is certain to impact Telegram's business model, which was rooted in the platform's commitment to protecting users&#8217; privacy. Even before this turnaround, the company's financials were not stellar, as, according to documents obtained <a href="https://www.ft.com/content/242552a9-4280-46c0-9d61-bcf6ccd14400">by</a> the Financial Times, as it lost $259 million in 2023.
It is unclear whether the possible user exodus might benefit competitors like Signal or WhatsApp. Following the news, Meta Platform Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) stock closed at a new all-time high of $573.98
Now Read:  • <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40989179/meta-connect-2024-preview-cheaper-vr-expected-analysts-see-augmented-reality-and-ai">Meta Connect 2024 Preview: Cheaper VR Expected, Analysts See Augmented Reality And AI As Major Focus</a>

Photo: Shutterstock

Eurozone

Legal

Global

Telegram Uses AI To Filter Problematic Data, Will Share User Info To Authorities

STOCK CLOSES NEAR HIGH OF THE DAY
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="810" height="742" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23200849/Screen-Shot-2024-09-23-at-4.10.37-PM.png" alt="" class="wp-image-1409" style="width:920px;height:auto" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23200849/Screen-Shot-2024-09-23-at-4.10.37-PM.png 810w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23200849/Screen-Shot-2024-09-23-at-4.10.37-PM-300x275.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23200849/Screen-Shot-2024-09-23-at-4.10.37-PM-768x704.png 768w" sizes="(max-width: 810px) 100vw, 810px" /></figure>
Today, TradePulse&#8217;s latest Power Inflow alert indicated institutional volume is coming into Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), signaling a shift from net selling to buying. This shift is a key indicator of rising investor confidence and the potential for an uptrend in BKNG&#8217;s stock.
At 10:02 AM ET on September 23rd BKNG registered a Power Inflow at a price of $4062.73. Following this signal, the stock reached its high point at 3:55 EDT, climbing over 40 points ($4104.87) during the day, translating to an approximate increase of 1.0%. This alert is crucial for investors relying on order flow analytics, suggesting the beginning of an uptrend and presenting a valuable opportunity for those anticipating higher prices. Observers are now closely monitoring BKNG for sustained positive momentum, viewing this as a bullish sign.
Understanding Power Inflow:
A Power Inflow is identified by a surge in buy orders over sell orders, typically occurring within the first one or two hours after the market opens. This phenomenon is observed in ten to twenty stocks daily, reflecting the initial strategies and reactions of large institutional investors. Analyzing the size, timing, and price of these transactions helps signal shifts in market sentiment and potential price changes. For those interested in monitoring more stocks exhibiting Power Inflows, visiting the TradePulse website provides comprehensive insights and updates on daily occurrences.
Importance of Power Inflow:
Power Inflows are crucial as they offer early indications of potential uptrends, enabling traders to act even before the market fully adjusts. Such a change is commonly viewed as a sign of larger inflows than retail is capable of producing, indicating institutional interest and a short-term uptrend in the stock. Although not always marking the lowest point, stocks tend to rise following a Power Inflow. This makes these signals especially valuable for identifying strategic entry points and planning short-term investments, as they provide an opportunity to capitalize on upward momentum ahead of wider market recognition.
Strategic Actions Following a Power Inflow:
After detecting a Power Inflow, traders should view it as a potential entry buying point but also confirm the trend with TradePulse's additional indicators such as Momentum, Daily, and Large Deal flows to ensure its strength and viability. Prompt action, combined with strategic stop-loss settings, can maximize returns and minimize risks. This comprehensive approach allows traders to make more informed decisions, optimizing their trading strategies in alignment with real-time market dynamics.
If you want to stay updated on the latest options trades for Booking Holdings Inc.,<a href="https://benzinga.grsm.io/register174"> Benzinga Pro</a> gives you real-time options trade alerts.&nbsp;
<a href="https://benzinga.com/apis?_gl=1&#x2A;1hlgn5i&#x2A;_ga&#x2A;MTY1NjE2NTYxMi4xNzE0NzQ4MTAy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDc0ODEwMi4xLjEuMTcxNDc0ODQyOC4wLjAuMA..">Market News and Data are brought to you by Benzinga APIs</a> and include firms, like<a href="https://finitusa.com/en/"> Finit USA</a>, responsible for parts of the data within this article. 
After Market Close UPDATE:
The price at the time of the Power Inflow was $4062.73. The returns on the High price ($4104.87) and Close price ($4097.08) after the Power Inflow were respectively 1.0% and 0.8%. That is why it is important to have a trading plan that includes Profit Targets and Stop Losses that reflect your risk appetite. In this case the high of the day and close were very close but that is not always the case
Past Performance is Not Indicative of Future Results

Signals

BKNG

Tradepulse Power Inflow Alert: Booking Holdings Inc. Climbs Over 40 Points After Signal

O'Reilly Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORLY#NASDAQ">ORLY</a>) has outperformed the market over the past 15 years by 13.85% on an annualized basis producing an average annual return of 25.72%. Currently, O'Reilly Automotive has a market capitalization of $64.99 billion. 
Buying $1000 In ORLY: If an investor had bought $1000 of ORLY stock 15 years ago, it would be worth $30,563.32 today based on a price of $1119.84 for ORLY at the time of writing.
<h3>O'Reilly Automotive's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727127024_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.

ORLY

$1000 Invested In This Stock 15 Years Ago Would Be Worth $31,000 Today

Adobe (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) has outperformed the market over the past 20 years by 8.05% on an annualized basis producing an average annual return of 16.54%. Currently, Adobe has a market capitalization of $234.06 billion. 
Buying $100 In ADBE: If an investor had bought $100 of ADBE stock 20 years ago, it would be worth $2,125.94 today based on a price of $527.87 for ADBE at the time of writing.
<h3>Adobe's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727127019_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.

ADBE

$100 Invested In This Stock 20 Years Ago Would Be Worth $2,100 Today

Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares moved higher Monday as investors anticipate the company's third-quarter delivery figures and <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40987087/us-stocks-stall-gold-updates-record-highs-tesla-rallies-whats-driving-markets-monday">the release of its robotaxi.&nbsp;</a>
The Details: Tesla shares climbed nearly 5% Monday after Barclays analyst Daniel Levy said he expects Tesla deliveries to come in higher than the consensus estimate of 460,000, according to <a href="https://finance.yahoo.com/news/tesla-stock-pops-amid-bullish-sales-forecast-as-robotaxi-unveiling-looms-181255883.html?utm_campaign=bm&amp;utm_medium=newsletter&amp;utm_source=morning_brew">a report</a> from Yahoo Finance.&nbsp;
The Barclays analyst expects Tesla to deliver about 470,000 EVs for the quarter due to an uptick in sales in China.&nbsp;
"Given the positive data points reported thus far in the quarter, particularly in China, we believe Tesla&#8217;s sales trajectory is well understood and investors are expecting a stronger result," Levy wrote.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/09/40948948/homebuilder-lennar-reports-better-than-expected-q3-results-details">Homebuilder Lennar Reports Better-Than-Expected Q3 Results: Details</a>
Levy also expects Tesla's long-awaited "Robotaxi Day" scheduled for Oct. 10 to boost the stock. Tesla CEO Elon Musk has<a href="https://www.benzinga.com/news/24/07/39929718/tesla-robotaxi-unveiling-set-for-oct-10-here-are-the-updates-from-company-ceo-elon-musk-on-its-upcom"> hinted at the possibility</a> of the first unsupervised Tesla robotaxi ride by the end of 2024.
"It's difficult, obviously, my predictions on this have been overly optimistic in the past," Musk said. "…based on the current trend… you could do [it] unsupervised possibly by the end of this year. I would be shocked if we cannot do it next year."
<h1 class="wp-block-heading">TSLA Stock Prediction 2024</h1>
Tesla&#8217;s revenue growth in FY23 was 18.8%, reflecting the influence of various factors including the macroeconomic environment, demand for its products and services, and its position relative to competitors. This growth is a critical indicator for investors assessing the company&#8217;s future prospects.
Some macro factors that could impact the company's performance in the next year include higher interest rates, progress on reeling in inflation and labor market strength. The Fed's benchmark rate is currently at 4.83%, while PPI recently came in at 0.2%, growing 1.7% from last year. The unemployment rate was most recently reported as 4.2%.
An investor should pay attention to economic conditions to decide whether they think the macro environment is positive or negative for Tesla stock. For real-time economic data and breaking market updates, <a href="https://pro.benzinga.com/">check out Benzinga Pro. Try it for free.</a>
How does this stack up against Tesla's peers? Investors may also want to analyze a stock in comparison to companies with similar products or in similar industries. 
Tesla operates in the Consumer Discretionary sector. The stock has experienced an average annual growth of -1.06% compared to the -37.76% average of its peer companies. This is below the broader sector movement of Tesla.
TSLA Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Tesla shares ended Monday's session 1.22% higher at $250.
Read Also:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/09/40957779/shipping-giants-fedex-ups-stocks-slip-friday-whats-going-on">Shipping Giants FedEx, UPS Stocks Slip Friday: What&#8217;s Going On?</a></li>
</ul>
Photo: Courtesy of Tesla, Inc.

What Happened With Tesla Stock Today?

HEI intends to use the net proceeds from the offering to fund its contribution to the expected Maui wildfire tort litigation settlement and for general corporate purposes.

Offerings

Hawaiian Electric Industries Intends To Make Offering Of $500M Of Shares Of Its Common Stock

Analyst Vivek Arya of Bank of America Securities reiterated a Sell rating on Wolfspeed (WOLF – Research Report), with a price target of $15.00. Viv...

Wolfspeed's Financial Challenges Persist Amid Weak Demand and Competitive Pressures

16 out of 21 companies reporting yesterday opened down - here is the list

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Wolfspeed (NYSE:<a href="https://investorplace.com/stock-quotes/wolf-stock-quote/">WOLF</a>) just reported results for the fourth quarter of 2024.<ul><li>Wolfspeed reported earnings per share of -89 cents. This was below the analyst estimate for EPS of -85 cents.</li><li>The company reported revenue of $200.70 million.</li><li>This was 0.24% worse than the analyst estimate for revenue of $201.19 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div>	The post <a href="https://investorplace.com/earning-results/2024/08/wolf-stock-earnings-wolfspeed-for-q4-of-2024/">WOLF Stock Earnings: Wolfspeed Misses EPS, Misses Revenue for Q4 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

WOLF Stock Earnings: Wolfspeed Misses EPS, Misses Revenue for Q4 2024

Navitas Semiconductor: A Hidden Gem In The Semiconductor Space

Wolfspeed ticks up even as Canaccord Genuity cuts target on operational worries

Wolfspeed: More Concerning By The Day

CNH Industrial, Parsons and more join S&P MidCap 400

Wolfspeed unveils silicon carbide module solution to boost clean energy capacity

MACOM Technology Solutions: Why The Stock May Not Be Done Yet

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Press Releases

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Wolfspeed, Inc. - WOLF

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Wolfspeed

Wolfspeed (WOLF) Forecast

Wolfspeed (NYSE:WOLF) Stock, Quote.Headers.trade-ideas