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American Century Diversified Corporate Bond ETF

The portfolio managers will invest at least 80% of the funds net assets, plus any borrowings for investment purposes, in corporate debt securities and corporate debt investments. Under normal market conditions, the weighted average duration of the funds portfolio is expected to be between three and seven years.

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American Century Pares Fee On Active Corporate Bond ETF

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Federal Reserve

Fed's Powell Says People Don't Experience Interest-rate Increases As Pleasant, But At The End, You Get Inflation Down

Fed's Powell Says Hard To Say How Much More Mortgage Rates Will Fall; That Will Depend On Economy; Says We Had A Burst Of Inflation, As Did Other Countries; Part Of The Answer Was To Raise Interest Rates

Fed's Powell Says We Might Well Have Cut In July If We Had The Jobs Data At That Point; Says Everyone On The Committee Agreed It Was Time To Move; Says Decision Today Had Broad Support At FOMC

Jefferies analyst Jonathan Petersen maintains CubeSmart (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CUBE#NYSE">CUBE</a>) with a Buy and raises the price target from $53 to $62.

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CUBE

Jefferies Maintains Buy on CubeSmart, Raises Price Target to $62

Powell Says Supply Question Is For The Market And For Government To Solve; Says Our Move Today Is Timely

Fed's Powell Says Issue With Housing Is Lack Of Supply; Says Fed Can Not Fix Issues With Housing Supply Constraints; Says As We Normalize Rates, We Do Think Housing Market Will Normalize

Xylem Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xyl#NYSE">XYL</a>) is well-poised for growth in the coming quarters, courtesy of its businesses and accretive acquisitions. The company&#39;s efforts to reward its shareholders add to its appeal.
Headquartered in Rye Brook, NY, Xylem is one of the leading providers of water solutions worldwide. It is involved in the full water-process cycle, including the collection, distribution and return of water to the environment. XYL has a significant presence in the United States, the Asia Pacific, Europe and various other nations. Over the past year, this Zacks Rank #3 (Hold) company has gained 40.4% compared with the industry&#39;s 26.8% growth.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/23/78263.jpg?v=976502451" />
Image Source: Zacks Investment Research
Let&#39;s discuss the factors that might influence investors to retain this stock in their portfolio for the time being.
Business Strength: Xylem is seeing growth across most of its businesses. The Measurement &amp; Control Solutions (&quot;M&amp;CS&quot;) segment is benefiting from robust demand for advanced technology solutions like smart metering and other applications, primarily in the United States. The segment&#39;s organic sales were up 26% year over year, driven by smart metering demand and execution.
Growth in the transport application business, driven by a strong pipeline of capital projects in Western Europe and increased infrastructure projects in the United States, is boosting the Water Infrastructure segment&#39;s performance. Strong momentum in the treatment applications business, supported by increasing capital projects in emerging markets, also bodes well. The segment&#39;s organic sales increased 7% year over year in the second quarter, buoyed by price realization and growth across all regions and applications.
Strength in dewatering business across major markets (particularly in the United States and emerging regions), driven by increased sales volume and favorable pricing, is a key catalyst to the Water Solutions and Services segment&#39;s growth. The segment&#39;s organic sales grew 12% year over year in the second quarter, supported by higher capital project revenues and gains in integrated solutions and services in the United States.
Expansion Efforts: The company solidifies its product portfolio and leverages business opportunities through asset additions. Acquisitions contributed $265 million to Xylem&#39;s total revenues in the second quarter. The company acquired mission-critical water treatment solutions and services provider Evoqua in May 2023.
Evoqua&#39;s advanced water and wastewater treatment capabilities and position in key industrial markets complement Xylem&#39;s portfolio of solutions across the water cycle. The acquisition boosted its position in water technologies, solutions and services. The transaction is expected to deliver run-rate cost synergies of $140 million within three years upon closing. It is also expected to strengthen the company&#39;s balance sheet.
Rewards to Shareholders: Xylem&#39;s commitment to rewarding shareholders through dividends and share buybacks is encouraging. In the first six months of 2024, it paid dividends of $175 million, up 25.9% year over year. The company also bought back shares worth $18 million in the same period. In February 2024, it hiked its dividend by 9%. Also, in 2023, Xylem paid out dividends worth $299 million and bought back shares worth $25 million.
<h2>Downsides of Xylem</h2>
Segmental Weakness: Xylem has been experiencing weakness in the Applied Water segment owing to the slowdown in the broader economy. In July 2024, the Institute for Supply Management&#39;s manufacturing index registered 48.5%, indicating a contraction in U.S. manufacturing activity for the third consecutive month. The impact of this slowdown is reflected in the decrease in demand for industrial and building solutions applications, including pumps, valves, heat exchangers, controls and dispensing equipment.
Amid these challenges, the segment&#39;s second-quarter revenues declined 5% on a year-over-year basis in the second quarter. A reduced number of project wins is likely to impact its performance in the near term.
Rising Costs: Xylem has been grappling with the adverse impacts of cost inflation. In the second quarter, its cost of revenues increased 26.1% year over year due to high raw material, labor, freight and overhead costs. Selling, general and administrative expenses rose 8.7% due to additional operational expenditure from the acquisition of Evoqua. Escalating costs pose a threat to the bottom line.
<h2>Stocks to Consider</h2>
Some better-ranked companies from the same space are discussed below.
Flowserve Corporation&nbsp;currently carries a Zacks Rank #2 (Buy).
FLS delivered a trailing four-quarter average earnings surprise of 18.2%. In the past 60 days, the Zacks Consensus Estimate for Flowserve&#39;s 2024 earnings has increased 3.8%.
Crane Company&nbsp;presently carries a Zacks Rank of 2. The company delivered a trailing four-quarter average earnings surprise of 11.2%.
In the past 60 days, the Zacks Consensus Estimate for CR&#39;s 2024 earnings has increased 2%.
Parker-Hannifin Corporation&nbsp;currently carries a Zacks Rank of 2. PH delivered a trailing four-quarter average earnings surprise of 2.6%.
In the past 60 days, the consensus estimate for Parker-Hannifin&#39;s fiscal 2025 earnings has increased 1.3%.
<a href="https://www.zacks.com/stock/news/2337929/here-s-why-you-should-retain-xylem-stock-in-your-portfolio-for-now?cid=CS-BENZ-FT-analyst_blog|rank_focused-2337929">To read this article on Zacks.com click here.</a>

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Here's Why You Should Retain Xylem Stock in Your Portfolio for Now

Fed's Powell Say Housing Market Is In Part Frozen In Part Due To Higher Rates; Says As Rates Come Home, People Will Start To Move More, And That's Already Happening; Says As Rates Come Down, People Will Sell More

Economics

Fed's Powell Says Outcome Is Not As In Doubt Now Though; Says We Will Get Down To 2% Inflation; Says We Will Get Down To 2% Inflation; Says Ultimately We Will Get What We Need To Get Out Of The Housing Services Inflation Too

Fed's Powell Says We Know Understand It Will Take Some Time For Lower Market Rents To Filter Through; Says Direction Of Travel On Rents Is Clear; Says Direction Of Travel Is Clear Though, Even Though It May Take Several Years

Fed's Powell Says Housing Inflation Is One Piece That Is Dragging A Bit; Says Market Rents Are Doing What We Want Them To Do, But They Are Not Coming Down As Much As Expected

Roku Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>) is gearing up for a platform monetization sprint, and investors are starting to tune in. After a strong showing at the JPMorgan U.S. All Stars Conference in London, Roku's management has made one thing crystal clear: it's all about accelerating <a href="https://www.benzinga.com/quote/ROKU/news">platform revenue growth</a>.
<h2 class="wp-block-heading">Shopify Integration Boosts Roku Ads Manager</h2>
Roku has <a href="https://www.businesswire.com/news/home/20240918031574/en/Roku-Launches-Ads-Manager-a-Self-Service-Performance-Solution-for-Growth-Marketers">launched</a> Roku Ads Manager, a self-service CTV performance solution featuring the first-ever Shopify Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) integration for shoppable campaigns. This new platform is designed to help direct-to-consumer brands of all sizes easily purchase CTV video ads, offering a familiar buying experience similar to search and social. 
Louqman Parampath, Roku's VP of Product Management, emphasized the platform's advantage: "Roku Ads Manager is uniquely positioned to offer data, optimization, and ad formats that no other CTV self-serve solution has." The integration with Shopify enhances reach for merchants, creating a new sales channel with shoppable ads.
<h2 class="wp-block-heading">Roku Management Doubling Down On Partnerships</h2>
With management doubling down on third-party partnerships and home screen changes, the streaming giant is eyeing a revenue boost that could turn heads as early as the fourth quarter of 2025. Partnerships with The Trade Desk Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>) are also nearing completion, positioning Roku for potential ad revenue growth.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40293747/analysts-see-strong-growth-potential-for-the-trade-desk-amid-ctv-expansion-and-stab">Analysts See Strong Growth Potential For The Trade Desk Amid CTV Expansion And Stable Digital Ad Market</a>
While Roku's CFO Dan Jedda and IR head Conrad Grodd laid out the company's priorities, the spotlight was on how Roku plans to balance revenue expansion with profitability. With platform growth initiatives set to be funded by reallocating existing operational expenses (nearly $2 billion in 2024), Roku is aiming to keep its spending lean.
This belt-tightening has led JPMorgan's Cory Carpenter to raise his price target on Roku from $80 to $90, citing increased confidence in the company's ability to grow earnings without breaking the bank.
<h2 class="wp-block-heading">Needham&#8217;s $100 Price Target Adds More Fuel To The Fire</h2>
Adding to the optimism, Needham has upgraded Roku&#8217;s price target to $100, reiterating their Buy rating. Analyst Laura Martin emphasized Roku&#8217;s strong strategic position in the U.S. over-the-top (OTT) and connected-TV (CTV) ecosystems.
With Roku devices now in 50% of U.S. broadband homes, the company is the largest streaming distribution platform, making it highly attractive to advertisers.
According to Needham, Roku benefits from a total addressable market (TAM) of around $62 billion in traditional linear TV advertising revenue for 2023. Roku's impressive cost control and tactical moves to become an &#8220;arms dealer&#8221; of streaming—similar to how Apple's iOS platform operates—reinforce Needham's bullish outlook. 
This potential, combined with its large CTV ad inventory and projected industry growth of 15-17% in 2024, paints a picture of significant valuation upside.
<h2 class="wp-block-heading">Technicals Point To A Strong Bullish Run—For Now</h2>
On the technical front, Roku is flashing bullish signals, with its stock price of $74.67 above key moving averages.
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091824&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="623" height="454" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/18142411/Screenshot-2024-09-18-at-4.00.08-PM.png" alt="" class="wp-image-554749" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/18142411/Screenshot-2024-09-18-at-4.00.08-PM.png 623w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/18142411/Screenshot-2024-09-18-at-4.00.08-PM-300x219.png 300w" sizes="(max-width: 623px) 100vw, 623px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091824&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
However, some selling pressure indicates a possible risk of bearish movement in the near future, so cautious optimism might be the best approach.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/09/40920634/roku-introduces-innovative-ads-manager-for-direct-to-consumer-brands-details">Roku Introduces Innovative Ads Manager For Direct-to-Consumer Brands: Details</a></li>
</ul>
Photo: Shutterstock

Analyst Color

Technicals

Tech

ROKU

SHOP

Roku: The 'Arms Dealer' Of Streaming Gears Up For Monetization Surge, Says Analyst

Jefferies analyst Jonathan Petersen maintains National Storage (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NSA#NYSE">NSA</a>) with a Buy and raises the price target from $47 to $54.

Jefferies Maintains Buy on National Storage, Raises Price Target to $54

Fed Chair Powell Says We Are Going To Move Rates To A More Normal Level Over Time; We Are Not Declaring Victory On Inflation; We Are Close, But Not At 2% Inflation; We Are Not Saying Mission Accomplished Yet On Inflation, But Encouraged By Our Progress

WIIM

USDEUR

USDGBP

The dollar is lower against multiple currencies after the Fed cut rates by 50 bps.

As Florida prepares for a critical vote on recreational cannabis legalization this November, Governor Ron DeSantis is intensifying his campaign against Amendment 3, this time challenging cannabis giant Trulieve (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) (CSE:<a class="ticker" href="https://www.benzinga.com/stock/TRUL#CSE">TRUL</a>). In an effort to counter what the <a href="https://www.benzinga.com/markets/cannabis/24/08/40418144/florida-cannabis-legalization-one-poll-shows-weed-going-legal-in-november-ballot-another-thumbs-">polls show</a> as a majority of support for recreational cannabis, the governor is presenting brand new creative arguments.
On Tuesday night, the Anti-Amendment 3 X (formerly Twitter) account shared a video where DeSantis appears to target &#8220;one big weed company,&#8221; referring to Amendment 3's <a href="https://www.benzinga.com/markets/cannabis/24/05/38730627/medical-marijuana-giant-trulieve-backer-of-floridas-recreational-cannabis-ballot-narrows-loss-re">main backer</a>, Trulieve, as an alleged corporate monopoly seeking to profit from a captive market. He also accused them of being led by &#8220;corporate interests&#8221;.
<h3 class="wp-block-heading">Fighting &#8216;Corporate Cannabis&#8216;?</h3>
The Vote No on 3 X account shared a video of DeSantis stating, "One big weed company that spent 75 to 80 million dollars… writes in there that you have a right to possess and use marijuana, but only if you buy it from them; you can't grow it in your backyard."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f440; <a href="https://twitter.com/GovRonDeSantis?ref_src=twsrc%5Etfw">@GovRonDeSantis</a> laid it out: Amendment 3 is not pro-freedom, it&#39;s pro-monopoly. Instead of giving you the freedom to grow in your backyard, Amendment 3 would allow unchecked public use. <a href="https://t.co/NKhJpBcq9C">pic.twitter.com/NKhJpBcq9C</a>
&mdash; Vote No on 3 (@VoteNo_On3) <a href="https://twitter.com/VoteNo_On3/status/1836082394782110002?ref_src=twsrc%5Etfw">September 17, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
This statement is surprising for two reasons: it misrepresents the cannabis regulations in other states, where <a href="https://www.benzinga.com/markets/cannabis/24/04/37988501/59-of-americans-support-right-to-grow-legal-cannabis-at-home-new-survey-finds">home cultivation</a> is often permitted, while also portraying DeSantis as supportive of home growing—a stance that <a href="https://www.benzinga.com/markets/cannabis/24/05/38649648/ron-desantis-plan-to-scuttle-floridas-cannabis-legalization-initiative-with-his-vast-fundraising">contradicts his previous positions</a>.
While DeSantis opposes the legalization of recreational cannabis, supporting legislation that allows residents to grow their own plants could address some concerns about access and the illegal market.
Instead, De Santis has been <a href="https://www.benzinga.com/markets/cannabis/24/07/39760907/ron-desantis-floridas-gop-and-hemp-industry-pile-on-to-defeat-marijuana-legalization">financially backed </a>by another type of manufacturer: the hemp derivatives groups. Some of the companies in this sector profit from an unregulated environment that allows them not to cope with the tax burden and manufacturing controls imposed on the cannabis industry.
That sort of backing led the governor to veto a bill that would&#8217;ve outlawed hemp-based&nbsp;products in July of this year.
Benzinga reached out to Trulieve for comments on DeSantis&#8217; remarks. 
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/40820699/trump-stuck-in-southern-border-and-immigration-loop-during-harris-debate-theyre-destroying-our-c">Trump Stuck In Southern Border And Immigration Loop During Harris Debate: &#8216;They&#8217;re Destroying Our Country&#8217;</a>
<h3 class="wp-block-heading">Running Against Trulieve</h3>
DeSantis&#8217; remarks also reflect his complicated relationship with the cannabis industry.
Trulieve, which has invested heavily in the Smart &amp; Safe campaign for Amendment 3, is a major player in the Florida medical cannabis market. However, it&#8217;s far from being a monopoly, as the X post reads and the governor implies.
According to the most <a href="https://knowthefactsmmj.com/wp-content/uploads/ommu_updates/2024/091324-OMMU-Update.pdf">recent data</a> from the Office of Medical Marijuana Use (OMMU), Trulieve operates 22% of the state's dispensaries, accounting for 30% of total medical marijuana sales and 10% of low-THC cannabis products. It&#8217;s clear that the company is not the only cannabis business in Florida.
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.</li>
</ul>
<h3 class="wp-block-heading">DeSantis&#8217; Closing Arguments</h3>
DeSantis also expressed concerns about marijuana use in public spaces, which is a typical regulatory concern with cannabis (similar to alcohol and tobacco).
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This is all you need to know to prove that Amendment 3 is about corporate interests, not personal freedom. If you buy from 
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CSE:TRUL

TCNNF

TRUL

DeSantis Targets 'One Big Weed Company' Funding Florida's Legalization Campaign, Cites 'Corporate Interest' As Main Motivation

Powell: We Don't Put Up Any Other Filters In Making Our Decisions; US Economy Is In A Good Place And Our Decision Today Is Designed To Keep It There; Our Intention Is To Maintain The Strength That We Currently See

Jefferies analyst Jonathan Petersen maintains Public Storage (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSA#NYSE">PSA</a>) with a Buy and raises the price target from $360 to $422.

Jefferies Maintains Buy on Public Storage, Raises Price Target to $422

Fed Chair Powell Says My Own Sense Is We Are Not Going Back To Negative Rates For Long-term Bonds; It Feels Neutral Rate Is Higher Than It Was; It Feels To Me That Neutral Rate Is Probably Significantly Higher Than It Was Pre Pandemic; Asked About Election, Says Fed Makes Decisions Based On Its Service To American People; Our Decisions Are Never About Politics Or Anything Else; If We Get It Right, Will Benefit The American People

A recent pilot study from the University of Washington School of Medicine shows a low dosage of ketamine can reduce or help eliminate withdrawal symptoms <a href="https://www.benzinga.com/topic/fentanyl">from fentanyl addiction</a>. 
Medical journal Addiction Science &amp; Clinical Practice published the <a href="https://www.sciencedaily.com/releases/2024/09/240917162334.htm?utm_source=substack&amp;utm_medium=email">results</a> Tuesday.
A 16-milligram dose of ketamine helped patients transition to buprenorphine treatment, a common opioid addiction therapy, researchers determined.
<h3 class="wp-block-heading">Study Scope And Findings</h3>
The research team, led by Dr. Lucinda Grande, administered ketamine to 37 patients over 14 months. Of the 24 patients who tried the treatment, 16 completed the transition to buprenorphine, with 92% of the last 12 remaining in treatment for at least 30 days. Patients reported a significant reduction in withdrawal symptoms after each dose, with effects lasting for hours.
Dr. Tom Hutch, co-author of the study, emphasized that ketamine could serve as a &#8220;bridge&#8221; for patients unable to start treatments like buprenorphine or methadone due to the severity of withdrawal symptoms. The dosage used in the study was a fraction of that used for anesthesia and was significantly lower than doses prescribed for depression, which is another growing use of the drug.
The 16 mg dose is a small fraction of that typically used for anesthesia, the main clinical role of ketamine, according to Grande. That dosage also is less than half of the smallest ketamine dose prescribed for depression treatment, an increasingly common use of this medication.
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/08/40634272/dea-warns-of-crackdown-on-ketamine-prescribing-following-matthew-perrys-death">DEA Warns Of Crackdown On Ketamine Prescribing Following Matthew Perry&#8217;s Death</a>
<h3 class="wp-block-heading">Ketamine In The Public Spotlight</h3>
Ketamine has been in the public eye since medical examiners <a href="https://www.benzinga.com/markets/cannabis/23/12/36268778/matthew-perry-died-of-acute-effects-of-ketamine-medical-examiner-reports">determined</a> late actor Matthew Perry overdosed from high-dose ketamine treatment for depression.
"Our study underscores the enormous potential of this drug to address <a href="https://www.benzinga.com/markets/cannabis/24/05/38652184/ketamine-assisted-psychotherapy-offers-hope-in-the-treatment-of-chronic-pain-and-depression-here">important health problems</a> such as depression, chronic pain and, now, fentanyl use disorder," Grande says. The positive attributes of ketamine have been overshadowed by Perry&#8217;s death, she adds.
Grande hopes the results of this pilot study will be confirmed in larger studies. "I&#8217;m excited about these results," she said. "It&#8217;s a wonderful opportunity to save lives."
Now Read: 
<ul>
<li><a href="https://www.benzinga.com/general/biotech/24/03/37797951/elon-musk-on-ketamine-and-investors-value-if-there-is-something-im-taking-i-should-keep-taking-it">Elon Musk On Ketamine And Investors&#8217; Value: &#8216;If There Is Something I&#8217;m Taking, I Should Keep Taking It&#8217;</a></li>
</ul>
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Psychedelics

Ultra-Low-Dose Ketamine May Offer Relief For Opioid Withdrawal, Study Finds

What Investors Need To Know About Stock Market Corrections

Columbia Threadneedle Fixed-Income Monitor: August 2024

Let's Get Real (Rates)

Rate Cuts: Now May Be The Time To Extend Duration

American Century Diversified Corporate Bond ETF declares monthly distribution of $0.1867

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Tuesday, June 18, 2019