Latest News for CCA Industries Stock (OTC:CAWW)

CCA Industries Inc is a fast-moving consumer goods company. It is engaged in manufacturing and distributing health and beauty aid products. The company markets its products under several brand names such as Plus+White, Sudden Change, Nutra Nail, Bikini Zone, Hair Off, Solar Sense, Sunset Cafe, Lobe Miracle and Scar Zone. Its products are marketed and sold to the major drug, food chains, mass merchandisers, and wholesale beauty aids distributors throughout the United States and Canada.

CCA Industries Inc

Stephens &amp; Co. analyst Trey Grooms reiterates TopBuild (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLD#NYSE">BLD</a>) with a Equal-Weight and maintains $425 price target.

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Stephens & Co. Reiterates Equal-Weight on TopBuild, Maintains $425 Price Target

Rambus's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NYSE">RMBS</a>) short percent of float has fallen 11.24% since its last report. The company recently reported that it has 3.07 million shares sold short, which is 3.79% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.14 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Rambus Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713886228_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Rambus has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Rambus's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Rambus's peer group average for short interest as a percentage of float is 8.51%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

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Short Ideas

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(RMBS) - Analyzing Rambus's Short Interest

AMC Enter Hldgs's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) short percent of float has risen 16.15% since its last report. The company recently reported that it has 42.19 million shares sold short, which is 16.04% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.18 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>AMC Enter Hldgs Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713886222_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for AMC Enter Hldgs has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing AMC Enter Hldgs's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, AMC Enter Hldgs's peer group average for short interest as a percentage of float is 9.24%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

(AMC) - Analyzing AMC Enter Hldgs's Short Interest

Waste Management's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) short percent of float has fallen 15.38% since its last report. The company recently reported that it has 4.42 million shares sold short, which is 1.1% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.85 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Waste Management Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713886216_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Waste Management has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Waste Management's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Waste Management's peer group average for short interest as a percentage of float is 3.12%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

How Is The Market Feeling About Waste Management?

Loop Capital analyst Mark Schappel maintains LivePerson (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPSN#NASDAQ">LPSN</a>) with a Hold and lowers the price target from $3 to $1.

LPSN

Loop Capital Maintains Hold on LivePerson, Lowers Price Target to $1

JetBlue Airways Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) stock tumbled on Tuesday after the company&nbsp;<a href="https://www.benzinga.com/pressreleases/24/04/b38374287/jetblue-announces-first-quarter-2024-results" target="_blank" rel="noreferrer noopener">announced a gloomy outlook</a>.
The air carrier reported a first-quarter adjusted EPS loss of 43 cents. It beat the consensus loss of 52 cents, up from a loss of 34 cents a year ago.
The company reported sales of $2.21 billion, down 5% Y/Y, almost in line with the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $2.205 billion</a>. The first quarter of 2024 saw a 2.7% Y/Y decrease in capacity.
Operating expenses for the quarter increased by 14% to&nbsp;$2.9 billion, with operating expenses per available seat mile (CASM) rising by 17.1%.
Adjusted operating expenses decreased by 3.7% to $2.4 billion. Operating expenses per available seat mile, excluding fuel and other non-airline operating expenses, increased by 7.1% year-over-year.
Earlier this year, JetBlue announced the termination of a deal Monday to acquire Spirit Airlines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) for $3.8 billion, following a decisive legal blockade <a href="https://www.benzinga.com/markets/equities/24/03/37467988/spirit-airlines-ceo-says-we-are-disappointed-after-jetblue-deal-fails" target="_blank" rel="noreferrer noopener">by the Department of Justice</a>.
&#8220;As we look ahead in 2024, we are seeing positive momentum in our revenue growth. Demand during peak periods remains strong, and we continue to manage our capacity during off-peak periods to reflect evolving demand trends. We plan to continue to refine our network and product offering to better serve our leisure customers while diversifying revenues with margin-accretive initiatives,&#8221; said Joanna Geraghty, JetBlue&#8217;s president and chief operating officer.
Guidance:&nbsp;JetBlue said second-quarter revenue would drop as much as 10.5% in the second quarter of 2024. The carrier forecasts full-year 2024 sales would drop in the low single digits after estimating flat sales for the year in its fourth-<a target="_blank" href="https://www.benzinga.com/pressreleases/24/01/b36840357/jetblue-announces-fourth-quarter-2023-results" rel="noreferrer noopener">quarter earnings release</a>.
The Long Island City, New York-based company estimates the second quarter available Seat Miles to fall between (5.0%) – (2.0%) Y/Y and down low single digits for 2024.
Price Action:&nbsp;JBLU shares are down 11.5% at $6.64&nbsp;at the last check Tuesday.
Now Read: <a href="https://www.benzinga.com/news/earnings/24/04/38298704/alaska-air-group-q1-earnings-preview-attention-turns-to-boeing-safety-merger-with-hawaiian-airlines">Alaska Air Group Q1 Earnings Preview &#8211; Attention Turns To Boeing Safety, Merger With Hawaiian Airlines</a>

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JetBlue Airways Shares Witness Over 10% Drop On Disappointing Annual Outlook

MSCI Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSCI#NYSE">MSCI</a>)&nbsp;reported fiscal first-quarter revenue growth of 14.8% year-on-year to $679.97 million, missing the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38374602/msci-reports-financial-results-for-first-quarter-2024" rel="noreferrer noopener">consensus of $684.14 million</a>.&nbsp;
The adjusted EPS of $3.52 beat the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $3.45</a>. The stock price dipped after the results.
The total&nbsp;run-rate at&nbsp;March 31, 2024, rose 14.6%&nbsp;Y/Y&nbsp;to $2.73 billion.&nbsp;The organic&nbsp;recurring subscription run rate growth was 8.7%. The retention rate was 92.8% compared to 95.2% last year.
Index operating revenues of the investment research firm rose 10.2% Y/Y to $373.9 million, aided by higher recurring subscription revenues and asset-based fees.
Analytics operating revenues increased 11.5%&nbsp;Y/Y&nbsp;to $164.0 million, driven by higher recurring subscription revenues from Equity and Multi-Asset Class Analytics products.
ESG and Climate operating revenues grew 16.1%&nbsp;year over year&nbsp;to $77.9 million, driven by solid growth in&nbsp;Ratings, Screening, and Climate products.
All&nbsp;Other&nbsp;–&nbsp;Private Assets&nbsp;operating revenues improved 66.0% Y/Y to $64.2 million.
Margin:&nbsp;The operating margin declined from 53.1% to 49.9%. The adjusted EBITDA margin reduced from 58.2% to 56.4%.
MSCI generated $275.9 million in free cash flow and held $519.3 million in cash and equivalents&nbsp;as of March 31, 2024.
Henry A. Fernandez, Chairman and CEO of MSCI said, &#8220;Elevated cancels reflected a concentration of unusual client events, including a large merger among our banking clients. We are managing through these pressures and do not expect this level of cancels to continue.&#8221;
FY24 Outlook:&nbsp;MSCI&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/01/36846873/msci-ceo-hails-decade-of-growth-record-q4-earnings-signal-strong-future-for-investment-giant" rel="noreferrer noopener">reiterated operating expense</a>&nbsp;guidance of $1.30 billion&nbsp;– $1.34&nbsp;billion, capex of $95 million&nbsp;– $105&nbsp;million, and free cash flow of $1.225 billion&nbsp;– $1.285&nbsp;billion.
The&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">fiscal revenue and adjusted EPS</a>&nbsp;consensus are $2.85 billion and $14.92.
MSCI stock lost over 5% in the last 12 months. Investors can gain exposure to the stock via&nbsp;IShares U.S. Broker-Dealers &amp; Securities Exchanges ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and&nbsp;Sterling Capital Focus Equity ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LCG#NYSE">LCG</a>).
Price Action:&nbsp;MSCI shares traded lower by 12.90% at $448.79 at the last check Tuesday.

Tech

iShares Dow Jones US Broker Dealers Index Fund

MSCI

What's Going On With MSCI Stock On Monday?

Barclays analyst Balaji Prasad maintains Zoetis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>) with a Overweight and lowers the price target from $260 to $230.

Barclays Maintains Overweight on Zoetis, Lowers Price Target to $230

Legal

Globe Life Says Law Firm Wilmer Hale Hired To Review Short Seller Assertions

To gain an edge, this is what you need to know today.
<img alt="" src="https://thearorareport.com/wp-content/uploads/2024/04/2024-04-23_08h41_13.png" style="height:362px; width:624px" />
<h3>Hedges Are Profitable</h3>
The Arora Report gave several signals to put&nbsp;hedges on to protect large profits on long-term positions. Hedges are now profitable.&nbsp;It is time to book partial profits on some hedges.&nbsp;&nbsp;
<h3>Semiconductors Stabilizing After 17% Drop&nbsp;</h3>
Please <a href="https://thearorareport.com/stock-market-chart-analysis-semiconductors-leading-sector-smh-mc-04232024">click here</a> for an enlarged chart of semiconductor ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/smh#NASDAQ">SMH</a>).
Note the following:
<ul>
<li>Historically, semiconductors are the leading sector.&nbsp;Often semiconductors move first and then the rest of the market follows.</li>
<li>This time, there has been an additional factor &ndash; semiconductors have been at the center of the AI revolution.</li>
<li>The chart shows semiconductors have had a massive run.&nbsp;As full disclosure, The Arora Report&#39;s ZYX Allocation Core Model Portfolio has a large allocation to semiconductors, up to 16% of the portfolio.</li>
<li>The chart shows when the Arora signal was given to take partial profits close to the top.</li>
<li>The chart shows semiconductors dropped 17% from the top.</li>
<li>The chart shows semiconductors are attempting to stabilize at the microsupport zone.</li>
<li>The chart shows RSI is oversold.&nbsp;Oversold RSI often, but not always, leads to a bounce.</li>
<li>Among the earnings, there are two notable earnings.
<ul>
<li>General Motors Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gm#NYSE">GM</a>) reported earnings significantly better than the whisper numbers.&nbsp;This indicates that in spite of high interest rates, consumers feel secure enough to buy new cars.</li>
<li>Cadence Design Systems Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cdns#NASDAQ">CDNS</a>) is a leading provider of semiconductor design software.&nbsp;CDNS stock has run up due to the AI frenzy.&nbsp;The presumption has been that as chips become more complex, CDNS will benefit.&nbsp; CDNS guidance is below expectations.&nbsp;This indicates that the momo crowd euphoria about AI is overdone.&nbsp; As full disclosure, CDNS is one of 18 stocks on the Arora Artificial Intelligence List.&nbsp;&nbsp;</li>
</ul>
</li>
<li>In the short term, the course of the stock market will depend on earnings from Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>), Meta Platforms Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>), Microsoft Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>),&nbsp;Alphabet Inc Class C (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>), and Alphabet Inc Class A (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>).</li>
</ul>
<h3>Magnificent Seven Money Flows</h3>
In the early trade, money flows are positive in Amazon.com, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>), Alphabet (GOOG), Meta (META), NVIDIA Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>), Microsoft (MSFT), and Tesla (TSLA).
In the early trade, money flows are neutral in Apple Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>).
In the early trade, money flows are mixed in SPDR S&amp;P 500 ETF Trust (ARCA:SPY) and Invesco QQQ Trust Series 1 (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>).
<h3>Momo Crowd And Smart Money In Stocks</h3>
The momo crowd is buying stocks in the early trade.&nbsp;Smart money is inactive in the early trade.
<h3>Gold</h3>
The momo crowd is selling gold in the early trade.&nbsp;Smart money is inactive in the early trade.
For longer-term, please see gold and silver ratings.
The most popular ETF for gold is SPDR Gold Trust (ARCA:GLD). The most popular ETF for silver is iShares Silver Trust (ARCA:SLV).&nbsp;
<h3>Oil</h3>
The momo crowd is selling oil in the early trade.&nbsp; Smart money is inactive in the early trade.
For longer-term, please see oil ratings.
The most popular ETF for oil is United States Oil ETF (ARCA:USO).
<h3>Bitcoin</h3>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is range bound.&nbsp;Bitcoin bulls are disappointed that bitcoin is not running up immediately after the halving.&nbsp;
<h3>Protection Band And What To Do Now</h3>
It is important for investors to look ahead and not in the rearview mirror.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp;The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp;If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp;When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp;High beta stocks are the ones that move more than the market.
<h3>Traditional 60/40 Portfolio</h3>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of seven year duration or less.&nbsp;Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter">Generate Wealth Newsletter</a>.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

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Hedges Are Profitable, Semiconductors Stabilizing After 17% Drop

Options

Markets

CVNA

Carvana Option Alert: May 17 $105 Calls Sweep (4) near the Ask: 250 @ $1.38 vs 657 OI; Ref=$75.41

Stephens &amp; Co. analyst Scott Fidel reiterates Ensign Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENSG#NASDAQ">ENSG</a>) with a Overweight and maintains $135 price target.

ENSG

Stephens & Co. Reiterates Overweight on Ensign Group, Maintains $135 Price Target

Barclays analyst Jared Shaw maintains Western Alliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>) with a Overweight and lowers the price target from $91 to $86.

Barclays Maintains Overweight on Western Alliance, Lowers Price Target to $86

Stephens &amp; Co. analyst Jacob Johnson reiterates MaxCyte (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MXCT#NASDAQ">MXCT</a>) with a Overweight and maintains $11 price target.

MXCT

Stephens & Co. Reiterates Overweight on MaxCyte, Maintains $11 Price Target

Roth MKM analyst Scott Stember reiterates LKQ (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LKQ#NASDAQ">LKQ</a>) with a Buy and maintains $65 price target.

Roth MKM Reiterates Buy on LKQ, Maintains $65 Price Target

Carvana Option Alert: May 17 $95 Calls Sweep (33) near the Ask: 611 @ $2.421 vs 1520 OI; Ref=$75.0999

Barclays analyst Mathieu Robilliard maintains Telefonica Brasil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIV#NYSE">VIV</a>) with a Equal-Weight and lowers the price target from $13.5 to $13.

Barclays Maintains Equal-Weight on Telefonica Brasil, Lowers Price Target to $13

Stephens &amp; Co. analyst Andrew Terrell reiterates WaFd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WAFD#NASDAQ">WAFD</a>) with a Equal-Weight and maintains $32 price target.

WAFD

Stephens & Co. Reiterates Equal-Weight on WaFd, Maintains $32 Price Target

Xerox Holdings Corp&nbsp;(NASDAQ:&nbsp;XRX) reported a fiscal first-quarter 2024 sales decline of 12.4% year-on-year to $1.50 billion, missing the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38374283/xerox-releases-first-quarter-results" rel="noreferrer noopener">consensus of $1.53 billion</a>.&nbsp;
Revenues declined 13.2% at constant currency. Adjusted EPS of $0.06 missed the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst&nbsp;consensus of $0.35</a>.&nbsp;The stock price&nbsp;declined&nbsp;after the print.
Equipment sales decreased by 25.8%, while post-sale revenue declined by 8.5%.&nbsp;
Gross margin declined 480 basis points Y/Y to 29.5%. The equipment margin&nbsp;fell by 550 bps to 31.0%.&nbsp;The post-sale&nbsp;margin decreased by 460 bps to 29.1%.
The company reported an adjusted operating income of $33 million, compared to $118 million last year, and the margin declined 470 basis points to 2.2%.
Xerox held $685 million in cash and equivalents as of March 31, 2024. Operating cash flow for the quarter totaled $(79) million, with a free cash flow of $(89) million.
&#8220;We implemented comprehensive and strategic operating model changes to align our organization more closely with our buyers&#8217; needs and improve efficiency,&#8221; said Steve Bandrowczak, CEO at Xerox.&nbsp;
FY24 Outlook: The company&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/01/36780814/xeroxs-challenging-q4-stock-drops-on-earnings-dip-ceo-emphasizes-on-simplifying-business-structure" rel="noreferrer noopener">reiterated revenue of</a>&nbsp;$6.54 billion&nbsp;– $6.68 billion vs.&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">consensus of $6.71 billion</a>.&nbsp;The company projected a&nbsp;free cash flow guidance of at least $600 million.
Xerox maintained an adjusted operating margin outlook of at least 7.5%.
Xerox stock gained 21% in the last 12 months.&nbsp;
Investors can gain exposure to the stock via&nbsp;ProShares Trust ProShares Metaverse ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VERS#NYSE">VERS</a>) and&nbsp;Direxion Work From Home ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFH#NYSE">WFH</a>).
Price Action: XRX shares are trading lower by 10.8% at $14.65 at the last check Tuesday.
Photo via Wikimedia Commons

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Latest News for CCA Industries Stock (OTC:CAWW)

Tuesday, March 24, 2020