Latest news for Zions Bancorp (NASDAQ:ZIONO) Stock

Zions Bancorporation is a regional U.S. bank with core operations that span 11 states. The bank is headquartered in Salt Lake City and does business primarily in the Western and Southwestern United States. Zions primarily focuses on providing banking services to small and midsize businesses, with the bulk of its loans focused on commercial and commercial real estate lending.

Zions Bancorporation N.A. - Depositary Shares each representing a 1/40th ownership interest in a share of Series G Fixed/Floating-Rate Non-Cumulative Perpetual Preferred Stock

Zions Bancorp NA

On Wednesday, Eli Lilly And Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) has urged a federal appeals court to overturn a $183 million judgment stemming from accusations of defrauding Medicaid.
The case, initiated in 2014, alleges that Eli Lilly underreported drug prices to Medicaid, resulting in smaller rebates owed to the program.
Last week,&nbsp;Walgreens Boots Alliance&nbsp;Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>) agreed to pay $106.8 million to settle allegations that it submitted false claims to government healthcare programs, violating the False Claims Act&nbsp;<a target="_blank" href="https://www.benzinga.com/news/large-cap/24/09/40881893/walgreens-agrees-to-106-8m-settlement-over-alleged-false-billing-claims" rel="noreferrer noopener">and state regulations</a>.
The U.S. pharma giant claims it is being wrongfully held liable despite adhering to its interpretation of Medicaid&#8217;s complex rebate requirements.
The claims also highlight that Eli Lilly failed to disclose price increases billed to distributors, which were not reflected in its Medicaid pricing reports.
Reuters noted that Eli Lilly started reporting price increases after a 2017 rule change, though the company claims it had previously informed regulators about its pricing practices without facing any objections.
In 2022, a U.S. District Judge rejected Eli Lilly&#8217;s motion for summary judgment, ruling that its price statements were misleading and allowing the case to proceed. In May 2023, a jury found Eli Lilly responsible for $61 million in damages, which were tripled to $183 million under the federal False Claims Act.
Most recently, Oak Street Health, a subsidiary of&nbsp;CVS Health&nbsp;Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), agreed to settle for $60 million following allegations that it violated the <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/09/40945496/cvs-subsidiary-oak-street-health-agrees-to-60m-settlement-in-medicare-kickback-violations" rel="noreferrer noopener">False Claims Act</a>.
The&nbsp;<a target="_blank" href="https://www.justice.gov/opa/pr/oak-street-health-agrees-pay-60m-resolve-alleged-false-claims-act-liability-paying-kickbacks" rel="noreferrer noopener">claims</a> involved paying kickbacks to third-party insurance agents to recruit seniors to its primary care clinics, a practice that led to false Medicare submissions.
The case has garnered attention from major business groups, including the U.S. Chamber of Commerce and Pharmaceutical Research and Manufacturers of America (PhRMA). These organizations argue that upholding the judgment would create uncertainty for regulated companies.
Price Action: LLY stock is trading higher by 1.45% to $928.28 premarket at the last check on Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Large Cap

News

Health Care

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Eli Lilly Fights $183M Medicaid Fraud Judgment, Cites Reasonable Interpretation Of Medicaid Rules

Wells Fargo analyst Colin Langan upgrades Visteon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VC#NASDAQ">VC</a>) from Equal-Weight to Overweight and raises the price target from $115 to $122.

Upgrades

Price Target

Analyst Ratings

Wells Fargo Upgrades Visteon to Overweight, Raises Price Target to $122

Guidance

RLND

RoyaLand Sees Prelim FY24 Adj. Net Loss $(1.059M)

Morgan Stanley analyst Andrew Ruben maintains MercadoLibre (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MELI#NASDAQ">MELI</a>) with a Overweight and raises the price target from $2175 to $2500.

MELI

Morgan Stanley Maintains Overweight on MercadoLibre, Raises Price Target to $2500

WIIM

ZONE

CleanCore Solutions shares are trading higher. The company reported full-year fiscal 2024 results.

Wells Fargo analyst Colin Langan downgrades Dana (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAN#NYSE">DAN</a>) from Equal-Weight to Underweight and lowers the price target from $13 to $9.

Downgrades

Wells Fargo Downgrades Dana to Underweight, Lowers Price Target to $9

Constellation Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>) shares are trading higher after the company announced it signed a 20-year power purchase agreement with Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>).
The deal entails the launch of the Crane Clean Energy Center (CCEC) and the restart of Three Mile Island Unit 1, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40954951/constellation-to-launch-crane-clean-energy-center-restoring-jobs-and-carbon-free-power-to-the-grid" rel="noreferrer noopener">which was closed five years ago.</a>
As per this agreement, Microsoft will source energy from the renewed plant to align its PJM data centers&#8217; power use with carbon-free energy, supporting its sustainability goals.
Unit 1 is next to TMI Unit 2, which has been shut down since 1979 and is being decommissioned by Energy Solutions. Unit 1 operates independently and was unaffected by the accident.
Constellation will also seek a license renewal to extend operations until at least 2054. The CCEC is expected to be operational by 2028.
Joe Dominguez, president and, CEO, Constellation said, &#8220;Powering industries critical to our nation&#8217;s global economic and technological competitiveness, including data centers, requires an abundance of energy that is carbon-free and reliable every hour of every day, and nuclear plants are the only energy sources that can consistently deliver on that promise.&#8221;
Constellation purchased TMI Unit 1, in 1999 and was retired for economic reasons in 2019. The plant will be renamed the Crane Clean Energy Center in honor of&nbsp;Chris Crane, who was CEO of Constellation&#8217;s former parent company.
Bobby Hollis, VP of Energy, Microsoft said, &#8220;This agreement is a major milestone in Microsoft&#8217;s efforts to help decarbonize the grid in support of our commitment to become carbon negative. Microsoft continues to collaborate with energy providers to develop carbon-free energy sources to help meet the grids&#8217; capacity and reliability needs.&#8221;
Also Read: <a target="_blank" href="https://www.benzinga.com//node/40909973" rel="noreferrer noopener">BlackRock, Microsoft, Others Team Up For $30B Artificial Intelligence Fund: Help US Fuel &#8216;AI Innovation And Economic Growth&#8217;</a>
U.S. Congressman Scott Perry said, &#8220;This critical step forward will ensure Pennsylvania has sufficient baseload power to meet its needs for decades to come while producing 3,400 jobs in our community.&#8221;
Investors can gain exposure to the stock via&nbsp;Strive Natural Resources and Security ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTWO#NYSE">FTWO</a>) and Virtus Reaves Utilities ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UTES#NYSE">UTES</a>).
Price Action: CEG shares are up 12.1% at $233.80 premarket at the last check Friday.
Photo by metamorworks via Shutterstock
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Equities

Contracts

Movers

FTWO

MSFT

UTES

Microsoft Taps Constellation For 20-Year Carbon-Free Power – 3,400 Jobs Coming To Pennsylvania

Morgan Stanley analyst Brian Harbour maintains Darden Restaurants (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) with a Overweight and raises the price target from $175 to $188.

Morgan Stanley Maintains Overweight on Darden Restaurants, Raises Price Target to $188

Wells Fargo analyst Colin Langan upgrades Aptiv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APTV#NYSE">APTV</a>) from Equal-Weight to Overweight and raises the price target from $78 to $87.

APTV

Wells Fargo Upgrades Aptiv to Overweight, Raises Price Target to $87

In the latest trading session, Crocs (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crox#NASDAQ">CROX</a>) closed at $137.92, marking a -1.35% move from the previous day. The stock&#39;s performance was behind the S&amp;P 500&#39;s daily gain of 1.7%. Meanwhile, the Dow experienced a rise of 1.26%, and the technology-dominated Nasdaq saw an increase of 2.51%.
Coming into today, shares of the footwear company had lost 0.56% in the past month. In that same time, the Consumer Discretionary sector gained 2.85%, while the S&amp;P 500 gained 1.27%.
The investment community will be closely monitoring the performance of Crocs in its forthcoming earnings report. The company&#39;s earnings per share are projected to be $3.11, reflecting a 4.31% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.05 billion, indicating a 0.08% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $12.85 per share and revenue of $4.12 billion, indicating changes of +6.82% and +4%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Crocs. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts&#39; confidence in the company&#39;s business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.11% higher. As of now, Crocs holds a Zacks Rank of #2 (Buy).
In terms of valuation, Crocs is currently trading at a Forward P/E ratio of 10.88. This denotes a discount relative to the industry&#39;s average Forward P/E of 19.27.
We can also see that CROX currently has a PEG ratio of 1.4. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company&#39;s projected earnings growth. The Textile - Apparel industry currently had an average PEG ratio of 2.01 as of yesterday&#39;s close.
The Textile - Apparel industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 171, placing it within the bottom 33% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
<a href="https://www.zacks.com/stock/news/2338839/crocs-crox-stock-drops-despite-market-gains-important-facts-to-note?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_6v2-2338839">To read this article on Zacks.com click here.</a>

Earnings

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Markets

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CROX

Crocs Stock Drops Despite Market Gains: Important Facts to Note

RBRK

Rubrik Expands Cyber Recovery And Incident Response Capabilities For Nutanix AHV, Offering Enhanced Testing, Recovery Validation, And Forensic Investigation Tools

Loop Capital analyst Alton Stump reiterates Domino's Pizza (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NYSE">DPZ</a>) with a Hold and maintains $419 price target.

Reiteration

Loop Capital Reiterates Hold on Domino's Pizza, Maintains $419 Price Target

Crypto
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40955750/bitcoins-correction-ends-but-it-has-to-break-this-target-to-surge-to-70k-10x-research">Bitcoin&#8217;s Correction Ends, But It Has To Break This Target To Surge To $70K: 10x Research</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40954186/fbi-arrests-2-people-allegedly-behind-230m-bitcoin-heist-laundered-proceeds-were-spent-on-">FBI Arrests 2 People Allegedly Behind $230M Bitcoin Heist: Laundered Proceeds Were Spent On Globetrotting, High-End Wheels, And Designer Handbags</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40951537/solana-based-memecoins-spike-dogwifhat-bonk-outshine-dogecoin-shiba-inu-in-24-hour-gains">Solana-Based Memecoins Spike — Dogwifhat, Bonk Outshine Dogecoin, Shiba Inu In 24-Hour Gains</a></li>
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40950912/bitcoins-reserve-asset-appeal-increased-due-to-state-of-us-federal-deficit-and-debt-says-b">Bitcoin&#8217;s Reserve Asset Appeal Increased Due To State Of US Federal Deficit And Debt, Says BlackRock: A Hedge Against &#8216;Possible Future Events&#8217; Affecting The Dollar</a></li>
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US Politics
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<li><a href="https://www.benzinga.com/news/24/09/40952944/anthony-scaramucci-says-trumps-3-legged-stool-strategy-of-racism-misogyny-and-anti-immigration-will">Anthony Scaramucci Says Trump&#8217;s 3-Legged Stool Strategy Of &#8216;Racism, Misogyny And Anti-Immigration&#8217; Will Misfire: Here&#8217;s What Would Seal The Deal For Kamala Harris</a></li>
<li><a href="https://www.benzinga.com/news/24/09/40951090/kamala-harris-underlines-her-support-for-second-amendment-dismisses-false-dichotomy-of-gun-control-d">Kamala Harris Underlines Her Support For Second Amendment, Dismisses False Dichotomy Of Gun Control Debate: Jokes To Oprah: &#8216;If Somebody Breaks In My House They Getting Shot&#8217;</a></li>
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US Markets­­­­­­­­
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</ul>
World Politics
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<li><a href="https://www.benzinga.com/24/09/40954613/kim-jong-uns-show-of-force-with-missiles-indicates-north-korea-is-no-longer-interested-in-negotiatio">Kim Jong Un&#8217;s &#8216;Show Of Force&#8217; With Missiles Indicates North Korea Is No Longer Interested In Negotiations With US, Say Analysts</a></li>
<li><a href="https://www.benzinga.com/news/24/09/40952025/us-keeps-missiles-vital-for-defence-of-taiwan-in-philippines-despite-beijings-demands-for-removal-re">US Keeps Missiles Vital For Defence Of Taiwan In Philippines Despite Beijing&#8217;s Demands For Removal: Report</a></li>
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US Economy
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World Economy
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<li><a href="https://www.benzinga.com/markets/asia/24/09/40951221/bank-of-japan-leaves-interest-rate-at-0-25-diverging-from-feds-50-basis-point-cut">Bank Of Japan Leaves Interest Rate At 0.25%, Diverging From Fed&#8217;s 50 Basis Point Cut</a></li>
</ul>
Tech
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Electric Vehicle
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<li><a href="https://www.benzinga.com/news/24/09/40952233/gms-cruise-eyes-resuming-robotaxi-operations-in-california-after-long-pause-due-to-pedestrian-accide">GM&#8217;s Cruise Eyes Resuming Robotaxi Operations In California After Long Pause Due To Pedestrian Accident In 2023</a></li>
</ul>
Consumer
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</ul>
Communication
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<li><a href="https://www.benzinga.com/general/entertainment/24/09/40954271/netflix-boosts-its-burgeoning-game-library-with-civilization-vi-and-street-fighter-iv-and-y">Netflix Boosts Its Burgeoning Game Library With Civilization VI And Street Fighter IV, And You Can Play Them At No Extra Cost</a></li>
<li><a href="https://www.benzinga.com/news/24/09/40953653/tesla-bull-pierre-ferragu-calls-elon-musks-x-update-revolutionary-urges-for-a-custom-x-browser-this">Tesla Bull Pierre Ferragu Calls Elon Musk&#8217;s X Update Revolutionary, Urges For A Custom X Browser: &#8216;This Is Wikipedia To The Power Of Infinity&#8217;</a></li>
<li><a href="https://www.benzinga.com/news/24/09/40952310/elon-musks-x-fined-1m-a-day-by-brazils-supreme-court-for-defying-ban-on-platform-judge-says-part-of">Elon Musk&#8217;s X Fined $1M A Day By Brazil&#8217;s Supreme Court For Defying Ban On Platform: Judge Says Part Of Effort To &#8216;Clean Up The Internet&#8217;</a></li>
<li><a href="https://www.benzinga.com/news/24/09/40951748/there-is-no-escaping-youtube-ads-even-after-hitting-the-pause-button-disgruntled-users-cry-foul-an-a">There Is No Escaping YouTube Ads Even After Hitting The Pause Button — Disgruntled Users Cry Foul: &#8216;An Absolute Trash Idea&#8217;</a></li>
</ul>
Healthcare
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<li><a href="https://www.benzinga.com/general/biotech/24/09/40956171/european-drug-agency-supports-novo-nordisks-blockbuster-weight-loss-drug-wegovy-for-obesity-relat">European Drug Agency Supports Novo Nordisk&#8217;s Blockbuster Weight-Loss Drug Wegovy For Obesity-Related Heart Failure</a></li>
</ul>
General
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<li><a href="https://www.benzinga.com/news/24/09/40951997/palantir-co-founder-joe-lonsdale-backs-elon-musks-twitter-acquisition-saying-if-he-had-not-bought-it">Palantir Co-Founder Joe Lonsdale Backs Elon Musk&#8217;s Twitter Acquisition, Saying If He Had Not Bought It Then &#8216;The Entire West Would Be At 10x The Threat&#8217;</a></li>
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</ul>
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Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) has appointed company veteran Elliott Hill as its new CEO, aiming to rejuvenate sales by mending ties with retailers.
What Happened: Hill&#8217;s appointment comes as John Donahoe steps down after a tenure focused on direct-to-consumer sales. This strategy, which emphasized selling through Nike&#8217;s stores and website, faced criticism for sidelining retail partners like Foot Locker and Macy&#8217;s, Reuters reported on Friday.
Under Donahoe, Nike&#8217;s shares have dropped by 25% this year. However, the announcement of Hill&#8217;s leadership saw a 6% surge in premarket trading on Friday, signaling investor optimism.
Morningstar analyst David Swartz noted that Nike&#8217;s board, including the controlling Knight family, sought a leader with deep company knowledge to address recent challenges, particularly the strained retailer relationships.
Nike aims to regain market share, especially in the running category, by spotlighting performance products and introducing new budget-friendly sneakers. A detailed strategy from Hill is expected at the company&#8217;s investor day in November.
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/40885286/just-smoke-the-weed-why-this-physician-in-california-urges-against-cannabis-vaping?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Just Smoke Weed&#8217;: This Physician Urges Against Cannabis Vaping</a>
Why It Matters: The leadership change comes at a crucial time for Nike, which has been grappling with a series of challenges. Earlier this year, Nike&#8217;s <a href="https://www.benzinga.com/24/06/39553700/nikes-fourth-quarter-results-highlight-its-struggle-with-ongoing-challenges">fourth-quarter results </a>highlighted ongoing struggles, with shares plunging more than 12% in after-hours trading. Despite being the top sponsor at the UEFA Euro 2024 football tournament, Nike&#8217;s lack of innovation and quality storytelling has hurt its performance. The company also lowered its full-year sales outlook, rattling stocks of retail partners like Foot Locker and Dick&#8217;s Sporting Goods.
Nike&#8217;s strategy to shift away from <a href="https://www.benzinga.com/news/24/09/40954074/why-nike-shares-are-trading-higher-by-around-7-here-are-20-stocks-moving-premarket">wholesalers to direct sales</a> channels has contributed to its sales slump. However, key retail partners have expressed optimism about Nike&#8217;s upcoming product launches and innovations. Foot Locker noted that Nike is &#8220;clearly back to playing offense.&#8221; For the quarter ending May 31st, Nike reported a 2% revenue decrease to $12.61 billion.
Price Action: At the time of writing, Nike was up by 8.36% in the pre-market on Friday, as per <a href="https://pro.benzinga.com">Benzinga Pro</a>.
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Image via Pexels/ Grailify
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Nike's New CEO Elliott Hill To Focus On Repairing Retailer Relations

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