Latest News for W World Corp Stock (OTC:WWHC)

W World Corp

Stifel analyst Drew Crum maintains MarineMax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HZO#NYSE">HZO</a>) with a Buy and lowers the price target from $37 to $35.

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Stifel Maintains Buy on MarineMax, Lowers Price Target to $35

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Chevron Getting Better Than Expected Permian Production Performance In First Half

Stifel analyst Nathan Jones maintains Lincoln Electric Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LECO#NASDAQ">LECO</a>) with a Hold and lowers the price target from $241 to $238.

LECO

Stifel Maintains Hold on Lincoln Electric Holdings, Lowers Price Target to $238

Stifel analyst Matthew Smith maintains Hain Celestial Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAIN#NASDAQ">HAIN</a>) with a Hold and lowers the price target from $10 to $8.

HAIN

Stifel Maintains Hold on Hain Celestial Group, Lowers Price Target to $8

Biotech

General

IGC Pharma Announces Interim Results For IGC-AD1 In Reducing Alzheimer's Agitation; Results Indicate That IGC-AD1 Clinically Reduced Agitation Compared To Placebo

WIIM

RCON

Recon Technology shares are trading higher. The company yesterday announced a 1-for-18 reverse stock splt.

Stifel analyst Rick Wise maintains Edwards Lifesciences (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EW#NYSE">EW</a>) with a Hold and raises the price target from $83 to $85.

Stifel Maintains Hold on Edwards Lifesciences, Raises Price Target to $85

Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>) continues its upward trajectory, with its 42% weekly gain prompting <a href="https://www.benzinga.com/money/pepe-price-prediction">growing investor optimism</a>.
What Happened: Pseudonymous cypto trader Plazma, known for his interest in Pepe, disclosed in an <a href="https://twitter.com/Plazma0x/status/1783525471809831060">X</a> post on April 25 that he recently sold all his holdings in Dogwifhat (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WIF</a>) to invest in Pepe. His decision has proven fruitful, with Pepe recording a remarkable 50% increase in the past seven days. Plazma advises traders to prioritize &#8220;real memes&#8221; like Pepe over other characters promoted by the mainstream. Pseudonymous crypto trader Plazma recently sold all his holdings in Dogwifhat (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WIF</a>) to invest in Pepe.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Deleted this post but I feel like I shouldn&#39;t have. Sold all my <a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$WIF</a> for <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PEPE</a> 2 days ago, turned out to be a great decision. Don&#39;t buy dogs, cats, characters, etc that the cabal pushes, buy real memes that people use and know. <a href="https://t.co/NdMWYim1CT">pic.twitter.com/NdMWYim1CT</a>
&mdash; Plazma (@Plazma0x) <a href="https://twitter.com/Plazma0x/status/1783525471809831060?ref_src=twsrc%5Etfw">April 25, 2024</a></blockquote>
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The decision has proven fruitful, with Pepe recording a remarkable 42% increase in the past seven days. Plazma opines traders should prioritize &#8220;real memes&#8221; like Pepe over other characters promoted by the mainstream, stating, &#8220;Don&#8217;t buy dogs, cats, characters, etc that the cabal pushes, buy real memes that people use and know.&#8221;
<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>
Technical crypto trader and NFT tracker davie satoshi compared Pepe&#8217;s performance with that of Bitcoin, noting that while Bitcoin tends to influence Pepe&#8217;s movements, Pepe is increasingly disassociating from Bitcoin&#8217;s actions. 
Despite Bitcoin&#8217;s recent declines, Pepe&#8217;s price remains higher than before, signaling a growing independence from Bitcoin&#8217;s price dynamics. Bitcoin is down 1.6% on the week, compared to Pepe&#8217;s 42% gain.
In another tweet, davie satoshi predicts Pepe to come at least close to its all-time high on the current uptrend.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f438;Possible count for <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PEPE</a>. We are currently in a triangle pattern since the bullish wave 3 up. We remain above the old resistance line (yellow dotted line now as support) and will chop around while <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> goes thru its motions. Wave 5 takes us back to ATH or close to it. Do you… <a href="https://t.co/IdrqLgPBg5">pic.twitter.com/IdrqLgPBg5</a>
&mdash; davie satoshi (@NFTdavie) <a href="https://twitter.com/NFTdavie/status/1783704756675829972?ref_src=twsrc%5Etfw">April 26, 2024</a></blockquote>
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Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38413834/pepe-up-50-on-the-week-cult-community-may-flip-shib-and-possibly-even-doge-predicts-influe">Pepe Up 50% On The Week: &#8216;Cult Community&#8217; May &#8216;Flip SHIB And Possibly Even DOGE,&#8217; Predicts Influential Trader</a>
Why It Matters: CoinGecko data highlights Pepe&#8217;s trading volume in the past 24 hours has surged to $1.2 billion, surpassing both Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>). This substantial trading activity underscores the growing interest in Pepe among investors. Dogecoin and Shiba Inu reported $1.06 billion and $788.8 million respectively.
CoinGecko data highlights Pepe&#8217;s trading volume in the past 24 hours has surged to&nbsp;$1.2 billion, surpassing both Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>), which reported&nbsp;$1.06 billion and $788.8 million, respectively. This substantial trading activity underscores the growing interest in Pepe among investors.
IntoTheBlock data points out Pepe&#8217;s correlation with Bitcoin at 0.71, indicating a relatively lower dependency compared to other meme coins like Dogecoin (0.94) and Shiba Inu (0.86). 
Transactions greater than&nbsp;100,000 have expanded to 274 transactions as of April 25 from 104 transactions as of April 19, indicating growing institutional interest in Pepe. 
Price Action: At the time of writing, PEPE was trading at $0.000007506, down 4% on the day.
What's Next: The influence of meme coins and&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;are topics expected to be thoroughly explored at Benzinga'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: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38365707/pepe-coin-skyrockets-17-traders-note-very-bullish-technical-setup">Pepe Coin Skyrockets 17%, Traders Note &#8216;Very Bullish&#8217; Technical Setup</a>
Image: Shutterstock

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

Cryptocurrency

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$PEPE

$SHIB

$WIF

Pepe Up 42% On The Week: 'Don't Buy Dogs, Cats…Buy Real Memes' Says Crypto Trader

Stifel analyst Stephen Gengaro maintains Core Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLB#NYSE">CLB</a>) with a Hold and raises the price target from $17 to $18.

Stifel Maintains Hold on Core Laboratories, Raises Price Target to $18

Stifel analyst Jim Duffy maintains Columbia Sportswear (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COLM#NASDAQ">COLM</a>) with a Hold and raises the price target from $75 to $84.

COLM

Stifel Maintains Hold on Columbia Sportswear, Raises Price Target to $84

Chevron Planing To Start Exploration Next To Massive Namibia Discovery In Late 2024, Early 2025

Tech bull Dan Ives expressed optimism after Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google's March 2024 quarter earnings, reiterating his belief that the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37386963/ai-revolution-confirmed-wedbushs-dan-ives-points-to-latest-sign-from-mid-cap-tech-c">"AI revolution" is here</a>.
What Happened: Wedbush's Ives called Microsoft and Google's earnings "robust" and said money is going into artificial intelligence (AI) technologies.
He expressed his excitement about the strong tech results from Microsoft and Google and referred to the AI Revolution as a &#8220;1995 moment," in an interview with Bloomberg Surveillance.
He emphasized the need for increased AI spending, suggesting that it indicates a shift towards the &#8220;fourth industrial revolution.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Great to be on <a href="https://twitter.com/bsurveillance?ref_src=twsrc%5Etfw">@bsurveillance</a> with <a href="https://twitter.com/FerroTV?ref_src=twsrc%5Etfw">@FerroTV</a> and <a href="https://twitter.com/lisaabramowicz1?ref_src=twsrc%5Etfw">@lisaabramowicz1</a> discussing robust tech results from Redmond and Alphabet as the AI Revolution is a 1995 Moment &#x1f525;&#x1f3c6;&#x1f402;&#x1f37f;&#x1f4fa;&#x1f447; <a href="https://twitter.com/business?ref_src=twsrc%5Etfw">@business</a> <a href="https://t.co/TLCmqH7m8H">https://t.co/TLCmqH7m8H</a>
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1783812630991327249?ref_src=twsrc%5Etfw">April 26, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38459459/put-it-in-the-louvre-tech-bull-praises-google-parent-alphabets-major-breakout-quart">&#8216;Put It In The Louvre:&#8217; Tech Bull Praises Google Parent Alphabet&#8217;s &#8216;Major Breakout Quarter,&#8217; Says It Is &#8216;Now In The Party&#8217;</a>
Both Microsoft and Google beat analyst expectations in terms of revenue and earnings per share (EPS.)
While Microsoft <a href="https://www.benzinga.com/news/earnings/24/04/38444199/microsoft-q3-earnings-revenue-beat-eps-beat-new-era-of-ai-transformation-and-more">reported a 17% increase</a> in revenue year-on-year to $61.9 billion, Google parent <a href="https://www.benzinga.com/news/earnings/24/04/38445001/alphabet-q1-earnings-revenue-beat-eps-beat-70b-buyback-first-ever-dividend-ai-leadership-and-more">Alphabet reported</a> a 15% growth in revenue during the same period to $80.539 billion and announced its first-ever dividend.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Ives referred to the current state of AI as a significant turning point in the industry.
His comments are in line with his previous statements, where he expressed optimism about the prospects of big technology companies in the March 2024 quarter, citing the AI revolution and improving ad spending as catalysts for a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38109341/dan-ives-says-this-will-be-the-catalyst-for-15-rally-in-tech-stocks-in-2024-google-">15% rally in tech stocks</a>.
Ives has been increasingly bullish about <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37765752/ahead-of-nvidias-grand-event-this-analyst-compares-ai-revolution-to-10-pm-in-a-part">his &#8220;AI revolution&#8221; thesis</a>, stating that we are just beginning to enter this cycle, and the &#8220;popcorn&#8221; is just getting out.
He also compared Microsoft CEO Satya Nadella to a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38453639/another-picasso-like-performance-top-tech-analyst-praises-satya-nadella-says-micros">"grandmaster chess player"</a> and lauded Microsoft's Azure cloud platform for its growth in the AI sector.
Price Action:&nbsp;At the time of writing, Microsoft's shares were trading 2.9% higher at $410.66, while Alphabet Inc.&#8217;s shares were up 9.91% at $173.61, according to&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38453639/another-picasso-like-performance-top-tech-analyst-praises-satya-nadella-says-micros">&#8216;Another Picasso-Like Performance:&#8217; Top Tech Analyst Praises Satya Nadella, Says Microsoft Is Top &#8216;AI Draft Pick&#8217; With 20% Rally In Store</a>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photos courtesy: World Economic Forum on Flickr

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GOOG

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Dan Ives Says AI Is The 'Fourth Industrial Revolution' After 'Robust' Results From Microsoft And Google: '1995 Moment'

Stifel analyst Jeffrey Stantial maintains Churchill Downs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHDN#NASDAQ">CHDN</a>) with a Buy and raises the price target from $150 to $153.

CHDN

Stifel Maintains Buy on Churchill Downs, Raises Price Target to $153

Needham analyst Joseph Stringer reiterates Phathom Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PHAT#NASDAQ">PHAT</a>) with a Buy and maintains $26 price target.

Reiteration

PHAT

Needham Reiterates Buy on Phathom Pharmaceuticals, Maintains $26 Price Target

Chevron Expects Free Cash Flow Of $4B From TCO In 2025, $5B In 2026

Stifel analyst Adam Borg maintains Check Point Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHKP#NASDAQ">CHKP</a>) with a Hold and lowers the price target from $170 to $165.

CHKP

Stifel Maintains Hold on Check Point Software, Lowers Price Target to $165

Stifel analyst Matthew Sheerin maintains Celestica (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLS#NYSE">CLS</a>) with a Hold and raises the price target from $36 to $48.

Stifel Maintains Hold on Celestica, Raises Price Target to $48

IPOs

CleanCore Solutions IPO Opens For Trade At $4.01/Share; IPO Priced At $4/Share

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

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

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