Zalando (OTC:ZLNDY) Stock, Quote.Headers.trade-ideas

Zalando, founded in 2008, is Europe's biggest pure-play online fashion platform. Zalando is present in 25 European countries and its major market is the DACH region, comprising Germany, Austria, and Switzerland, which accounts for around 44% of fashion stores' revenue. The company commands around 12% market share in European online apparel sales. It has 12 fulfilment centers and offers over 7,000 brands on its platform. In 2023, Zalando had almost 50 million active users (more than 10% of the population in countries where the firm has a presence).

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Microsoft Corp (NASDAQ: MSFT) and Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) Google have decided not to

Microsoft and Google Comply with EU&#39;s New Tech Regulations, Aiming for Easier User Access Across Services

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US Stock Futures Down After Recording Losses For August; Crude Oil Falls Further

Zalando SE

Keybanc analyst Upal Rana maintains Agree Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADC#NYSE">ADC</a>) with a Overweight and raises the price target from $68 to $80.

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Keybanc Maintains Overweight on Agree Realty, Raises Price Target to $80

The most oversold stocks in the consumer staples sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi">RSI is below 30</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3 class="wp-block-heading">Farmer Bros Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FARM#NASDAQ">FARM</a>)</h3>
<ul>
<li>On Sept. 12, Farmer Bros reported better-than-expected fourth-quarter financial results. &#8220;This past year was a transformative one for Farmer Brothers,&#8221; said President and Chief Executive Officer John Moore. &#8220;The decision to sell our direct ship business and focus on our more profitable DSD business helped significantly improve our gross margins and drive adjusted EBITDA profitability and overall operational efficiency.&#8221; The company's stock fell around 30% over the past month and has a <a href="https://www.benzinga.com/quote/FARM">52-week low of $1.85</a>.</li>
<li>RSI Value: 27.27</li>
<li>FARM Price Action: Shares of Farmer Bros fell 2.1% to close at $1.89 on Thursday.</li>
<li>Benzinga Pro's real-time newsfeed alerted to <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent100424&amp;t=be2bearmibe3na1">latest FARM news</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent100424&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="902" height="817" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04065613/image-16.png" alt="" class="wp-image-580375" style="width:634px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04065613/image-16.png 902w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04065613/image-16-300x272.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04065613/image-16-768x696.png 768w" sizes="(max-width: 902px) 100vw, 902px" /></a></figure>
<h3 class="wp-block-heading">British American Tobacco PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTI#NYSE">BTI</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</h3>
<ul>
<li>On July 25, British American Tobacco posted H1 adjusted EPS of 169.3p down from 181.6p in the year-ago period. The company's stock fell around 6% over the past five days. It <a href="https://www.benzinga.com/quote/MMYT">has a 52-week low</a> of $28.25.</li>
<li>RSI Value: 24.49</li>
<li>BTI Price Action: Shares of British American Tobacco fell 2.4% to close at $35.11 on Thursday.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent100424&amp;t=be2bearmibe3na1">trend in BTI stock</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent100424&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="905" height="823" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04065652/image-17.png" alt="" class="wp-image-580377" style="width:637px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04065652/image-17.png 905w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04065652/image-17-300x273.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04065652/image-17-768x698.png 768w" sizes="(max-width: 905px) 100vw, 905px" /></a></figure>
<h3 class="wp-block-heading">Conagra Brands Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>)</h3>
<ul>
<li>On Oct. 2, ConAgra Brands reported worse-than-expected first-quarter financial results. Conagra Brands reaffirmed its fiscal 2025 guidance, projecting organic net sales to be between a decline of 1.5% and flat compared to fiscal year 2024, and expects adjusted earnings per share (EPS) to be between $2.60 and $2.65, compared to an estimated $2.61. The company's shares fell around 10% over the past five days and has a 52-week <a href="https://www.benzinga.com/quote/CAG">low of $25.16</a>.</li>
<li>RSI Value: 25.52</li>
<li>CAG Price Action: Shares of Conagra Brands fell 2.4% to close at $29.35 on Thursday.</li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent100424&amp;t=be2bearmibe3na1">breakout in CAG shares</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent100424&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="907" height="852" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04065730/image-18.png" alt="" class="wp-image-580379" style="width:611px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04065730/image-18.png 907w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04065730/image-18-300x282.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04065730/image-18-768x721.png 768w" sizes="(max-width: 907px) 100vw, 907px" /></a></figure>
Read Next: 
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<li><a href="https://www.benzinga.com/markets/24/10/41173410/top-2-tech-and-telecom-stocks-that-are-ticking-portfolio-bombs">Top 2 Tech And Telecom Stocks That Are Ticking Portfolio Bombs</a></li>
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Long Ideas

Trading Ideas

FARM

Top 3 Risk Off Stocks That May Explode This Month

On Wednesday, October 3rd, U.S. markets closed lower as investors braced for the September payrolls report, which could influence future interest rate decisions. The slight rise in jobless claims signaled labor market softening, while escalating Middle East tensions pushed oil prices higher, adding to the cautious sentiment and prompting some profit-taking after recent gains.
In economic data, U.S. jobless claims rose by 6,000 to 225,000, slightly above estimates, while the S&amp;P Global services PMI was revised lower to 55.2 in September, down from 55.7 in August. The composite PMI also dipped to 54.
The majority of S&amp;P 500 sectors ended in the red, with consumer discretionary, materials, and real estate stocks leading losses, while energy and information technology sectors rose.
The Dow Jones Industrial Average was down 0.44% and closed at 42,011.59. The S&amp;P 500 ended the day lower by 0.17% at 5,699.94, and the Nasdaq Composite slid 0.04%, finishing the session at 17,918.48.
Asian Markets Today
<ul>
<li>On Friday, Japan's Nikkei 225 closed the session higher by 0.16% at 38,613.50, led by gains in the Precision Instruments, Insurance, and Railway &amp; Bus sectors.</li>
<li>Australia's S&amp;P/ASX 200 ended the day lower by 0.67% at 8,150.00, led by losses in the Metals &amp; Mining, Materials and IT sectors.</li>
<li>India's Nifty 50 closed lower by 0.79% at 25,049.85, and the Nifty 500 was down 0.84% to 23,556.85.</li>
<li>China Markets closed for the National Day holiday.</li>
<li>Hong Kong's Hang Seng rose 2.82%, ending the day at 22,736.87.</li>
</ul>
Eurozone at 06:00 AM ET
<ul>
<li>The European STOXX 50 index gained 0.21%.</li>
<li>Germany's DAX was up 0.33%.</li>
<li>France's CAC rose 0.41%.</li>
<li>U.K.'s FTSE 100 index traded lower by 0.45%.</li>
</ul>
Commodities at 06:00 AM ET
<ul>
<li>Crude Oil WTI was trading higher by 0.99% at $74.47/bbl, and Brent was up 1.00% at $78.41/bbl.</li>
<li>Oil prices rose driven by fears of Middle East tensions disrupting crude flows despite ample global supply. Brent and WTI crude gained around 9% this week as Israel-Iran tensions and Libya's production rebound influenced market dynamics.</li>
<li>Natural Gas was down 0.24% at $2.963.</li>
<li>Gold was trading lower by 0.03% at $2,678.45, Silver fell 0.52% to $32.290, and Copper gained 0.21% to $4.5627.</li>
</ul>
US Futures at 06:00 AM ET
Dow futures were down 0.01%, S&amp;P 500 futures rose 0.17%, and Nasdaq 100 Futures gained 0.30%.
Forex at 06:00 AM ET
The U.S. dollar index fell 0.10% to 101.89, the USD/JPY was down 0.31% to 146.47, and the USD/AUD declined 0.05% to 1.4610.
Photo by Pavel Bobrovskiy via Shutterstock

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ADIV

AGOV

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PowerShares DBmmodity Index Optimum Yield Diversified Fund

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KraneShares Trust KraneShares S&P Pan Asia Dividend Aristocrats Index ETF

KDIV

SPEM

USDU

PowerShares DB US Dollar Index Bullish Fund

Geopolitical Concerns Mount, Crude Oil Gains, Asia And Europe Markets Mixed - Global Markets Today While US Slept

In a wide-ranging interview on The All-In Podcast, billionaire entrepreneur Mark Cuban extended an offer to fellow tech mogul and Tesla Inc. CEO Elon Musk, signaling an <a href="https://www.benzinga.com/news/24/09/41083814/mark-cuban-warns-elon-musk-that-when-the-time-comes-he-needs-trump-the-most-he-will-find-out-the-tru">openness for potential collaboration</a>. 
What Happened: Cuban, known for his role on &#8220;Shark Tank&#8221; and ownership of the Dallas Mavericks, expressed his willingness to assist Musk in boosting revenue for X (formerly Twitter) during the podcast hosted by venture capitalists Chamath Palihapitiya, Jason Calacanis, David Sacks, and David Friedberg.
&#8220;I wish he would call me. I&#8217;d help him on his revenue and all that,&#8221; Cuban said.
The offer comes amid a tumultuous period for X, which has faced advertiser boycotts, accusations of antisemitism, and regulatory battles across the globe. Musk&#8217;s stated mission to promote free speech on the platform has been met with both <a href="https://www.benzinga.com/news/24/09/40897716/elon-musk-reacts-after-mark-cuban-says-he-would-buy-x-in-a-heartbeat">praise and criticism from various public figures</a>.
Cuban&#8217;s comments were particularly notable given the recent spate of public feuds among tech billionaires on X, spanning topics from politics to business and technology. Despite these tensions, Cuban expressed admiration for Musk&#8217;s entrepreneurial achievements.
&#8220;I&#8217;m a huge fan. What he&#8217;s been able to accomplish is insane. It&#8217;s incredible. I would never diminish anything he&#8217;s done as an entrepreneur,&#8221; Cuban said. However, he didn&#8217;t shy away from critiquing Musk&#8217;s online behavior, describing him as a &#8220;troll&#8221; on the platform.
When questioned about Musk&#8217;s original motivations for acquiring Twitter, Cuban speculated that fear of losing users might have played a role. He suggested that Musk&#8217;s alignment with conservative users on free speech issues could be a strategic move, given their tendency to be more active on social media.
&#8220;I think that within the conservative community, they are more joiners and heavier social media users,&#8221; Cuban explained. &#8220;So they subscribe to more things, they listen to more podcasts, they&#8217;re more active. And I think he recognized that.&#8221;
The podcast also touched on other pressing issues, including the Kamala Harris vs. Donald Trump matchup, Cuban&#8217;s decision to sell a majority stake in the Dallas Mavericks, his Cost Plus Drugs venture, OpenAI&#8216;s recent fundraising efforts, national debt concerns, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and cryptocurrency regulation, and ongoing conflicts in the Middle East and Ukraine.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">EARLY DROP! buckle up besties&#8230; we&#39;ve got &#x2A;two hours&#x2A; with <a href="https://twitter.com/mcuban?ref_src=twsrc%5Etfw">@mcuban</a> for you! &#8212; kamala vs trump &#8212; why he sold a majority of his <a href="https://twitter.com/dallasmavs?ref_src=twsrc%5Etfw">@dallasmavs</a> position &#8212; cost plus drugs &#8212; relationship w/ <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> &#8212; <a href="https://twitter.com/OpenAI?ref_src=twsrc%5Etfw">@openai</a>&#39;s new fundraise &#8212; national debt &#8212; crypto regulation &#8212; middle… <a href="https://t.co/dGumsgD4hh">pic.twitter.com/dGumsgD4hh</a>
&mdash; The All-In Podcast (@theallinpod) <a href="https://twitter.com/theallinpod/status/1841947111249871187?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: The offer from Cuban to assist Musk comes at a time when X is navigating significant challenges.
Recently, X published its first <a href="https://www.benzinga.com/news/24/09/41042433/elon-musks-x-suspends-5-3m-accounts-flags-10-6m-posts-in-first-transparency-report-amid-user-and-adv">transparency report</a>, revealing the suspension of 5.3 million accounts and the removal or labeling of over 10.6 million posts for rule violations. This highlights the platform&#8217;s ongoing struggle with content moderation and user engagement.
Additionally, Cuban has previously warned Musk about the potential pitfalls of aligning with political figures, such as Trump.
Cuban <a href="https://www.benzinga.com/news/24/09/41083814/mark-cuban-warns-elon-musk-that-when-the-time-comes-he-needs-trump-the-most-he-will-find-out-the-tru">cautioned Musk about Trump&#8217;s loyalty</a>, suggesting that it is self-serving. This warning came after Musk&#8217;s endorsement of Trump&#8217;s re-election as a means to preserve democracy.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/10/41132441/billionaire-investor-who-predicted-2000-2008-crashes-says-market-euphoria-will-top-soon-warns-of-bla?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Billionaire Investor Who Predicted 2000, 2008 Crashes Says Market Euphoria Will Top Soon, Warns Of &#8216;Black Swan Event&#8217;</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Social Media

$BTC

Mark Cuban Offers To Help Elon Musk Boost X Revenue, Says Tesla CEO Is Concerned About Declining Users: 'I Wish He Would Call Me'

JMP Securities analyst Trevor Cranston maintains Redwood Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RWT#NYSE">RWT</a>) with a Market Outperform and raises the price target from $8.5 to $9.

JMP Securities Maintains Market Outperform on Redwood Trust, Raises Price Target to $9

TD Cowen analyst Charles Ryhee upgrades CVS Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) from Hold to Buy and raises the price target from $59 to $85.

Upgrades

TD Cowen Upgrades CVS Health to Buy, Raises Price Target to $85

Large Cap

Medtronic Voluntarily Issued A Field Action Notifying Of Its MiniMed 600 Series Or 700 Series Insulin Pumps With Potential Risks Of Shortened Pump Battery Life

<a href="https://www.benzinga.com/topic/maxine-waters">U.S. Congresswoman Maxine Waters</a> (D-Calif.), Chairwoman of the House Financial Services Committee, has been one of the most vocal critics of the crypto industry over the past few years.
In 2022, Waters was actively pushing for a subpoena for FTX founder<a href="https://www.benzinga.com/news/24/10/41141962/remember-sbfs-i-didnt-stash-billions-away-the-latest-ftx-repayment-update-may-have-other-ideas"> Sam Bankman-Fried</a> (SBF) to testify before Congress, underscoring her call for increased regulation in the rapidly expanding digital assets sector.
However, recent developments indicate a notable shift in her stance, as Waters now acknowledges the inevitability of cryptocurrency.
<h3 class="wp-block-heading">From Subpoena To Arrest: The SBF Saga</h3>
Back in 2022, Waters was determined to bring SBF before Congress to answer for the collapse of his crypto exchange, FTX. 
Her plans took an unexpected turn when Bankman-Fried was arrested in the Bahamas at the request of the U.S. Attorney for the Southern District of New York.
Waters <a href="https://www.benzinga.com/markets/cryptocurrency/22/12/30052643/maxine-waters-surprised-over-sam-bankman-frieds-arrest-ahead-of-us-house-testimony-timing-">expressed her surprise over the timing</a>, stating, "The public has been waiting eagerly to get these answers under oath before Congress, and the timing of this arrest denies the public this opportunity.&#8221;
SBF was slated to appear before the House Financial Services Committee the day after his arrest and had accepted an invitation to testify before the Senate Banking Committee. 
His arrest preempted these hearings, with Waters noting, "We received confirmation this afternoon from Mr. Bankman-Fried and his lawyers that he was still planning to appear before the Committee tomorrow, but then he was arrested."
Now, SBF faces a myriad of charges, including wire fraud, securities fraud and money laundering, marking a significant development in the ongoing scrutiny of crypto markets.
<h3 class="wp-block-heading">Clamping Down On Crypto: Waters Vs. Meta</h3>
Waters&#8217; concerns about cryptocurrency extend beyond individual actors like SBF. In 2019, when Meta (formerly Facebook) announced its Libra cryptocurrency project, Waters quickly called for a<a href="https://www.coindesk.com/markets/2019/06/20/rep-waters-us-cant-let-facebooks-crypto-compete-with-the-dollar/"> "moratorium" on its development. </a>
She was outspoken in her belief that allowing Meta to &#8220;compete with the dollar&#8221; posed a risk to consumer protection, stating, &#8220;We've got to protect our consumers. We just can't allow them to go to Switzerland with all of its associates and begin to compete with the dollar.&#8221;
Fast forward to 2024, Waters remains cautious about Meta's ongoing crypto ambitions. 
In January, she penned a letter to Meta's CEO, Mark Zuckerberg, raising concerns over the company's five pending crypto-related trademark applications. 
This was in direct contrast to Meta&#8217;s previous assurance in October 2023 that it had no active digital asset projects. 
Waters' letter demanded answers about Meta's intentions, questioning whether the company was planning to launch a payments platform supporting cryptocurrencies. 
Her vigilance underscores her persistent apprehension regarding large tech companies&#8217; involvement in the crypto space.
<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/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
<h3 class="wp-block-heading">Championing Stablecoin Regulation</h3>
Waters has been especially vocal on the issue of stablecoin regulation. 
Earlier this year, she stated that a deal on a <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/36998854/maxine-waters-says-lawmakers-are-very-very-close-to-finalizing-stablecoin-regulation-bill">stablecoin bill was &#8220;very, very close,&#8221;</a> emphasizing the importance of granting the Federal Reserve oversight powers. 
&#8220;That's what's important to me: Our central bank should have the power of oversight and should have the ability to be at the head of this," she said, following extensive discussions with House Financial Services Committee Chair Patrick McHenry.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41170398/bitcoin-gold-are-the-debasement-trade-in-uncertain-times-jpmorgan">Bitcoin, Gold Are The &#8216;Debasement Trade&#8217; In Uncertain Times: JPMorgan</a>
Treasury Secretary Janet Yellen echoed Waters&#8217; concerns, calling for legislative action to protect crypto users and establish clear guidelines for stablecoin issuers. 
Waters' push for a regulatory framework reflects her commitment to safeguarding the financial system and investors from potential risks associated with the burgeoning digital asset market.
<h3 class="wp-block-heading">Waters' Changing Tone: Crypto's &#8216;Inevitability&#8217;</h3>
In a recent interview with Punchbowl News, Waters surprised many by <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41053101/maxine-waters-says-crypto-is-inevitable-other-countries-are-way-ahead-of-the-united-states">acknowledging a shift in her perspective</a> on the crypto industry. &#8220;Crypto is inevitable. There are countries that are way ahead of us,&#8221; she said, signaling an openness to dialogue that contrasts sharply with her earlier calls for stricter regulation.
Despite her evolving stance, Waters remains focused on investor protection. 
&#8220;The crypto companies want support the way they want to have it. We can&#8217;t do that. There&#8217;s got to be guardrails so that we protect consumers,&#8221; she said.
Her comments reflect a nuanced approach to crypto regulation, advocating for safeguards while recognizing the global momentum in digital currencies.
If the Democrats regain control of the House in November, Waters is positioned to reclaim her role as Chair of the Financial Services Committee. 
While she has consistently opposed the crypto industry&#8217;s legislative priorities, her recent remarks suggest a potential shift in strategy. 
Acknowledging that the U.S. might be &#8220;behind&#8221; in the global race for digital currencies, Waters appears more willing to engage in discussions on crypto&#8217;s future in the financial landscape.
This shifting political environment will be a key topic at Benzinga&#8217;s <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on November 19, where industry experts and policymakers will discuss the evolving relationship between crypto and traditional finance.
Read Next: 
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</ul>
Some elements of this story were previously reported by Benzinga and it has been updated.
Image: Shutterstock

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

Cryptocurrency

In 2022, Maxine Waters Wanted To Subpoena Sam Bankman Fried—Now She Thinks Crypto Is 'Inevitable'

TD Cowen analyst Gautam Khanna downgrades Woodward (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>) from Buy to Hold and lowers the price target from $186 to $160.

Downgrades

TD Cowen Downgrades Woodward to Hold, Lowers Price Target to $160

The company announced partnership with BITMAIN to host next-generation ASIC miner with purchase option to reach 20 EH/s of self-mining

Hut 8 Operations Update For September 2024: Reports 19.5 EH/s And 762 MW Under Management In Mining With Path To 33.5 EH/s

The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by the Company, are expected to total $66.0 million, assuming the underwriters do not exercise their option to purchase additional ADSs.&nbsp;

IPOs

BingEx Prices IPO Of 4M American Depositary Shares At $16.50 Per ADS; To Begin Trading On Nasdaq Stock Market Under Symbol 'FLX'

HC Wainwright &amp; Co. analyst Arthur He reiterates Satellos Bioscience (TSX:<a class="ticker" href="https://www.benzinga.com/stock/MSCL#TSX">MSCL</a>) with a Buy and maintains C$1.2 price target.

Reiteration

TSX:MSCL

HC Wainwright & Co. Reiterates Buy on Satellos Bioscience, Maintains C$1.2 Price Target

The results of this clinical trial are unrelated to Travelan and do not impact Immuron's plans to hold an end of Phase 2 meeting with the U.S. Food and Drug Administration (FDA) with a view to initiating Phase 3 clinical trial(s) of Travelan in 2H 2025. Nor does this NMRC trial impact on Immuron's commercialization strategy for Travelan. This commercialization strategy also includes the results of the Uniformed Services University clinical study (n=866) of Travelan which is 85% recruited with topline results anticipated in April 2025.

IMRN

Following A Discussion With The US Naval Medical Research Command (NMRC), Immuron Announced That The NMRC Has Completed The Interim Analysis For The Clinical Evaluation Of A New Oral Therapeutic Targeting Campylobacter And Enterotoxigenic Escherichia Coli

HC Wainwright &amp; Co. analyst Mitchell Kapoor reiterates Summit Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMMT#NASDAQ">SMMT</a>) with a Buy and maintains $45 price target.

SMMT

HC Wainwright & Co. Reiterates Buy on Summit Therapeutics, Maintains $45 Price Target

HC Wainwright &amp; Co. analyst Swayampakula Ramakanth maintains Eton Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETON#NASDAQ">ETON</a>) with a Buy and raises the price target from $9 to $11.

ETON

HC Wainwright & Co. Maintains Buy on Eton Pharmaceuticals, Raises Price Target to $11

HC Wainwright &amp; Co. analyst Mitchell Kapoor reiterates Halozyme Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HALO#NASDAQ">HALO</a>) with a Buy and maintains $65 price target.

HALO

HC Wainwright & Co. Reiterates Buy on Halozyme Therapeutics, Maintains $65 Price Target

Traders are cautiously optimistic ahead of the all-important payrolls report, with the index futures narrowly mixed in early Friday. The <a href="https://www.benzinga.com/news/24/10/41177060/port-strike-ends-workers-return-to-work-friday">suspension of the Longshoremen&#8217;s strike</a> removes one of the overhangs even as the Middle East tensions rage unabated. The September job gains could have a big impact on the near-term direction of the market.
&#8220;Payroll data will be closely watched as the sentiment is now that the Fed has become less focused on inflation and more on employment,&#8221; said fund manager Louis Navellier. A BofA note highlighted that the S&amp;P 500 futures have been more reactive to non-farm payroll data than any other economic data in recent years, a screenshot of the note shared by a financial writer on X showed.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.14%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.07%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.05%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.22%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Friday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) gained 0.16% to $568.75 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) moved 0.32% higher to $483.14, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
U.S. stocks showed nervousness throughout Thursday&#8217;s session before closing lower, with geopolitical tensions, the dockworkers&#8217; strike and mixed economic data weighing down on sentiment. While a bigger-than-expected increase in jobless claims stirred anxiety about the monthly jobs data, the Institute for Supply Management&#8217;s stronger-than-expected service sector purchasing managers&#8217; index tempered expectations concerning a bigger cut.
The Nasdaq Composite oscillated back and forth in the morning session but languished mostly below the unchanged line in the afternoon before ending marginally lower. This is despite IT and communication services posting moderate gains. The broader S&amp;P 500 Index traded mostly in the red and ended modestly lower, with consumer discretionary, consumer staple, healthcare, material and real estate stocks dragging the index lower. On the other hand, energy stocks posted solid gains. The index settled at a two-week low. 
The 30-stock Dow Jones Industrial Average underperformed as it settled down 0.44% at a one-week low.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.04%</td>
<td>17,918.47</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-0.17%</td>
<td>5,699.94</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-0.44%</td>
<td>42,011.59</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.09%</td>
<td>2,195.01</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Comerica Chief Economist Bill Adams said he expects the Fed to cut rates by 25 basis points in November, December, January and March and then move toward quarterly rate cuts for the rest of the next year. The economist noted that inflation is slowing to near the Fed&#8217;s 2% target, largely due to lower energy prices. Core inflation, though higher than the headline inflation, could slow due to downward pressure on durable goods and used autos persist and a slower increase in housing costs, he said.
Adams sees the Fed funds rate to be in the range of 3%-3.25% by the end of 2025. That said, the economist does not rule out a faster pace of rate cuts if the economy weakens materially, or a slower rate cut if the large deficit or wars in oil-exporting regions cause inflation to rebound.
Navellier weighed in on the near-term trajectory of the market in a note sent to clients on Thursday. &#8220;Funds flows into equities are likely to remain positive, at least until there is a sustained pullback, which hasn&#8217;t happened since &#8217;22,&#8221; he said.
The fund manager noted that the AI theme got a boost after OpenAI&#8217;s new funding round, which raised $6.6 billion from a long list of well-known investors, valuing the company at $157 billion. Also, Nvidia Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang&#8217;s comments that demand for the company&#8217;s new Blackwell chips is &#8220;insane,&#8221; is a positive for the sector, he said.
 &#8220;AI adoption remains one of the fastest-growing new technologies ever and continues to promise big gains in productivity, though the timing of meaningful cash flow gains still remains uncertain,&#8221; he added.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures-on-thinkorswim">How To Trade Futures</a>
Upcoming Economic Data:
<ul>
<li>The Bureau of Labor Statistics is due to release its September non-farm payrolls report at 8:30 a.m. EDT. Economists, on average, expect job gains of 150,000, up from the 142,000 rate in August. The jobless claims are expected to stay put at 4.2% and the average hourly wages may have risen at a steady annual pace of 3.8%.</li>
<li>New York Fed President John Williams is scheduled to give opening remarks at the conference &#8220;The Future of New York City: Focus on Jobs,&#8221; at 9 a.m. EDT.</li>
<li>Chicago Fed President Austan Goolsbee will make a TV appearance at 10 a.m. EDT.</li>
</ul>
Stocks In Focus:
<ul>
<li>Spirit Airlines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) plunged over 37% after reports said the low-cost carrier is exploring Chapter 11 bankruptcy filing following its failed attempt to merge with JetBlue Airways Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>). JetBlue climbed over 5%.</li>
<li>Apogee Enterprises, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APOG#NASDAQ">APOG</a>) is scheduled to <a href="https://www.benzinga.com/calendars/earnings">announce its quarterly results before the market opens.</a></li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures added to their 5%+ gains from Thursday and traded above $74.50, and gold futures traded flat under their all-time high. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) climbed over 1% ahead of the jobs data. The yield on the 10-year Treasury note remained unchanged at 3.85%.
The Asian markets were mixed, with Japan ending modestly higher, and Hong Kong and a few other majors advancing. On the other hand, the Indian, Australian, Malaysian, Indonesian, and Taiwanese markets retreated. The Chinese market continued to remain closed for a weeklong holiday.
In Europe, sentiment is modestly positive in early trading, although the U.K. market is retreating.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/10/41179608/mark-zuckerberg-bulldozes-past-jeff-bezos-to-become-worlds-2nd-richest-person-as-meta-stock-soar">Mark Zuckerberg Bulldozes Past Jeff Bezos To Become World&#8217;s 2nd Richest Person As Meta Stock Soars: Is Musk&#8217;s Top Spot In Jeopardy?</a></li>
</ul>
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Guidance

Apogee Enterprises Raised FY25 Adj. EPS To $4.90-$5.20 From $4.65-$5.00 Vs. Cons. $4.82

Needham analyst Joshua Reilly reiterates Jamf Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JAMF#NASDAQ">JAMF</a>) with a Buy and maintains $25 price target.

JAMF

Needham Reiterates Buy on Jamf Holding, Maintains $25 Price Target

Apogee Enterprises Reaffirmed FY25 Outlook For Net Sales To Decline 4% to 7%

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