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The Matthews Japan Active ETF seeks to achieve its investment objective by investing at least 80 percent of its net assets, which include borrowings for investment purposes, in the common and preferred stocks of companies located in Japan. A company or other issuer is considered to be located in Japan, and a security or instrument is deemed to be a Japanese security or instrument, if it has substantial ties to Japan.

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Meituan Dianping Class B

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Matthews Japan Active ETF

Matthews International Funds Matthews Japan Active ETF

Early voting results from Nevada suggest potential hurdles for Vice President Kamala Harris and the Democratic Party, according to a report.
What Happened: More Republicans have cast their ballots than Democrats in the early voting and mail-in ballot count of a presidential election year, for the first time since 2008. The report, released on Friday, indicates a lead of about 6,000 votes for the Republicans, translating to a margin of roughly 2%, <a href="https://thehill.com/homenews/campaign/4946483-nevada-early-voting-democrats/">reported</a> The Hill.
Jon Ralston, a seasoned reporter with The Nevada Independent, highlighted a notable shift in Clark County, Nevada&#8217;s most populous county and a traditional Democratic bastion. Ralston likened it to a collapse of the Democrat &#8220;firewall.&#8221; The Democrats&#8217; lead in the county has shrunk to approximately 4,500 votes. However, after counting additional mail-ins, the lead expanded to around 6,500.
Ralston also pointed out that rural areas are surpassing their expected share of the electorate by nearly 4 points. Describing it as a &#8220;huge day&#8221; for Republicans, he noted that the party now enjoys a 2-point turnout advantage with almost 250,000 votes cast.
&#8220;The large mail ballot lead enjoyed by Dems has been erased and more by the GOP lead in in-person early voting,&#8221; said Ralston.
Despite these early signs, analysts caution against relying too heavily on early voting data to forecast final election outcomes. Ralston echoed this sentiment, stating that it&#8217;s premature to label this as a trend, with many mail-in ballots still to be counted.
See Also: <a href="https://www.benzinga.com/news/24/10/41420316/kamala-harris-turns-60-gets-birthday-greetings-from-obama-biden-and-even-donald-trump-republican-opp?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kamala Harris Turns 60 — Gets Birthday Greetings From Obama, Biden And Even Donald Trump: Republican Opponent Says, &#8216;I Think I&#8217;d Get Her Some Flowers&#8217;</a>
Why It Matters: The shift in early voting patterns in Nevada follows a <a href="https://www.benzinga.com/news/24/10/41306291/trouble-for-kamala-harris-ahead-pennsylvania-north-carolina-nevada-democrats-lose-voter-registration">recent dip</a> in the Democratic Party&#8217;s voter registration advantage in key battleground states, including Pennsylvania, North Carolina, and Nevada. This could potentially pose a challenge for Vice President Harris in the upcoming elections.
Moreover, a new election poll <a href="https://www.benzinga.com/general/politics/24/10/41416506/harris-clings-to-narrow-national-lead-as-trump-gains-ground">indicates a close race</a> between Donald Trump and Harris in the 2024 presidential election.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
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/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

News

Politics

General

Kamala Harris Face Potential Setback In Nevada's Early Voting: 'Firewall' Collapses In Clark County, Says Veteran Election Watcher

KWESW

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

The head-to-head race between Donald Trump and Vice President Kamala Harris remained close in a new election poll with two weeks until the <a href="https://www.benzinga.com/topic/2024-election">2024 presidential election</a>.
 What Happened: Harris has had the lead over Trump in <a href="https://www.benzinga.com/topic/election-poll">many election polls</a> and until recent weeks saw her election betting odds and prediction market odds top the former president.
While Harris now trails Trump in betting odds and <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41455938/donald-trumps-election-odds-surge-to-64-on-polymarket-60-on-kalshi-and-favorite-in-all-swi">on prediction markets</a>, election polls continue to show that the current vice president holds a lead among nationally registered voters over the former president.
A new Morning Consult&nbsp;<a href="https://pro.morningconsult.com/trackers/2024-presidential-election-polling" target="_blank" rel="noreferrer noopener">poll&nbsp;</a>of likely voters shows Harris&#8217; lead dropping from a record high six points last week. Harris maintains a lead, something she has been able to accomplish most weeks since President Joe Biden dropped out of the election race.
The new poll shows the following results from voters, with results from<a href="https://www.benzinga.com/general/politics/24/10/41347642/harris-vs-trump-vice-president-holds-lead-in-2024-election-poll-but-former-president-is-closing-" target="_blank" rel="noreferrer noopener">&nbsp;the Oct. 15 poll&nbsp;</a>in parentheses:
<ul>
<li>Kamala Harris: 50% (50%)</li>
<li>Donald Trump: 46% (46%)</li>
<li>Someone Else: 2% (2%)</li>
<li>Don't Know: 2% (2%)</li>
</ul>
The poll also found that 95% of Democrats backed Harris as their top pick, up one percentage point from last week's poll. The poll also found 92% of Republicans backed Trump as their top pick, in line with last week's poll.
Independent voters selected the following as their head-to-head preference, with the results from the Oct. 15 poll in parentheses:
<ul>
<li>Kamala Harris: 47% (46%)</li>
<li>Donald Trump: 43% (42%)</li>
<li>Someone Else: 4% (6%)</li>
<li>Don't Know: 7% (6%)</li>
</ul>
The vice president also has the edge in the 18-34 age voters demographic, leading 52% to 44%. The eight-point lead is down from last week's 12-point advantage for the vice president.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments.&nbsp;<a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent102124" target="_blank" rel="noreferrer noopener">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: Harris' lead over Trump remains at four percentage points, the same lead as last week. Two weeks ago, Harris had a record six-point lead over Trump with the 2024 election one month out.
The vice president has seen her leads in the key Independent voter demographic and young voter demographics decline in recent weeks.
Morning Consult reported that Republican candidates like Trump and members running for Congress are seeing improvements in their net favorability scores or the difference between a favorable and unfavorable rating for a person.
Trump's net favorability ranking is -5. While that figure is still underwater and more people view the former president unfavorable than favorable, it is an improvement from a -10 ranking a month ago. Vice President candidate J.D. Vance has a net favorability ranking of -1, an improvement over the past month.
Morning Consult said in the poll that Harris' net buzz ranking, or the amount of people who heard something positive versus negative about her, was only +9 for the week. This tied a record low as Harris is not seeing the same net buzz advantage as in previous weeks. Trump's net buzz ranking stood at -15 for the week. This marked the smallest difference in net buzz between Harris and Trump since her first week on the campaign in July, according to the report.
The newest poll shows that <a href="https://www.benzinga.com/general/entertainment/24/10/41214476/will-kamala-harriss-media-blitz-including-60-minutes-and-call-her-daddy-improve-her-2024-el">Harris' media blitz </a>including appearances on the Call Her Daddy podcast, "The View," "60 Minutes" and "The Howard Stern Show" might be having a more negative than positive impact on her campaign.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/politics/24/10/41459660/exclusive-donald-trump-working-at-mcdonalds-could-boost-favorable-ratings-30-of-benzinga-readers">EXCLUSIVE: Donald Trump Working At McDonald&#8217;s Could Boost Favorable Ratings, 30% Of Benzinga Readers View Former President Better Now</a></li>
</ul>
Photos: Shutterstock

Trump Vs. Harris: Vice President Holds Slim Lead, Losing Momentum In Key Demographics, Favorability After Media Blitz

JPMorgan offered a preview of third-quarter earnings for Mattel, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>) and Hasbro, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>) before the toymakers<a href="https://www.benzinga.com/news/earnings/24/10/41402417/mattel-to-report-q3-earnings-heres-what-to-expect-from-the-stock"> report later this week. </a>
Mattel: JPMorgan analyst Christopher Horvers highlighted Mattel's success in expanding shelf space at major retail partners which coincides with Barbie's 65th Anniversary and the release of Mini Barbie Land and Barbie Dreamworld.&nbsp;
Read Next: <a href="https://www.benzinga.com/news/24/10/41418987/nuclear-energy-stocks-are-hot-heres-a-list-of-tickers-to-watch">Nuclear Energy Stocks Are Hot: Here&#8217;s A List Of Tickers To Watch</a>
While the analyst said the stock's setup is starting to improve, he also warned consumers remain soft and "very choiceful in how they spend money." 
Horvers also pointed to a shorter holiday season with five fewer days between Thanksgiving and Christmas as well as the presidential election as potential drags on Mattel's stock.&nbsp;
The JPMorgan analyst maintained a Neutral rating on Mattel, but raised its price target from $22 to $23.
Mattel is set to report on Wednesday after the market close, followed by a conference call to discuss the results at 5 p.m. ET. According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro,</a> the Street estimates Mattel will report earnings of 95 cents per share on revenue of $1.858 billion.
Hasbro: Horvers pointed to Hasbro's recent Transformers release and <a href="https://www.benzinga.com/news/24/08/40658510/lego-maker-pledges-to-cut-oil-content-in-bricks-by-2032-faces-higher-production-costs">new products </a>across its Beyblade, Play Doh and Peppa Pig lines as the "start of a stronger holiday setup after several years of more glacial innovation." The analyst also expects any weakness in the stock to be bought given Hasbro's improving innovation and a strong year ahead for the company's Magic and Go! brands.&nbsp; &nbsp;
JPMorgan <a href="https://www.benzinga.com/quote/HAS/analyst-ratings">maintained </a>its Overweight rating on Hasbro and raised its price target from $76 to $82 heading into the company's third-quarter report. 
Hasbro is set to report its results on Thursday before the opening bell, followed by a conference call at 8:30 a.m. ET. According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, the Street estimates Hasbro will report earnings of $1.28 per share on revenue of $1.295 billion.
MAT, HAS Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Mattel shares ended Tuesday's session down 1.68% at $18.11 and Hasbro shares closed 1.25% lower at $71.04. 
Read Also:&nbsp;
<ul>
<li>&nbsp;<a href="https://www.benzinga.com/news/24/10/41415824/lucid-ceo-peter-rawlinson-talks-saudi-investment-elon-musks-political-views-and-taking-business-from">Lucid CEO Peter Rawlinson Talks Saudi Investment, Elon Musk&#8217;s Political Views And Taking Business From Tesla</a></li>
</ul>

Analyst Color

Earnings

Entertainment

Previews

Analyst Ratings

Mattel, Hasbro Ahead Of Earnings, Holiday Season: JPMorgan Says Consumers 'Remain Soft'

Social media accounts that track flights of celebrities and business figures, including Tesla CEO Elon Musk have been suspended on Threads and Instagram, two platforms owned by Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>). The accounts had previously been banned on X since Musk bought the platform.
What Happened: Jack Sweeney, best known for launching a jet tracking account of Musk's flights on X, shared Tuesday that he had 38 accounts that track various figures suspended on Threads and Instagram without warning.
"Today brings a sense of déjà vu," Sweeney <a href="https://x.com/Jxck_Sweeney">said </a>in the letter.
Sweeney questioned Meta's rules and transparency as he hadn't changed anything and the accounts were previously okay to operate.
"What makes this more troubling is that I've received no communication from Meta — no warnings, no explanation. Reporters have reached out to Meta for clarification, but so far, there's been silence. This situation reflects poorly on Meta."
The recent suspensions come after Sweeney had a Taylor Swift jet tracker account <a href="https://www.benzinga.com/general/entertainment/24/02/36973423/taylor-swift-sends-cease-and-desist-to-student-for-tracking-her-private-jet">suspended 10 months ago</a>, but others remained and operated "just fine."
Sweeney went on to question Meta's oversight system in his letter.
"I can't even appeal these suspensions through Meta's Oversight Board. This lack of transparency makes Meta's actions even more concerning."
The jet tracker questioned in his letter the timing of accounts being shut down.
"I'm still unsure if this decision came directly from Meta or not, but it's worth noting that, just yesterday, Elon Musk supporters were <a href="https://x.com/cb_doge/status/1848190507215692232">vocal </a>about the suspension of @taylorswiftjets while @elonmuskjets remained active."
In another X post, Sweeney questioned why "tracking public info can be so controversial" and how he hadn't violated the rules from Meta in past years.
"Suddenly they care about something they haven't for years?"
Among the suspended accounts include flight tracking on Meta CEO Mark Zuckerberg, Jeff Bezos, Kylie Jenner and Kim Kardashian.
An account <a href="https://www.benzinga.com/news/22/12/30194852/elon-musks-jet-tracker-is-back-on-twitter-but-with-a-difference">that shares information</a> on Musk's flights a day later and abides by new X rules remains <a href="https://x.com/ElonJetNextDay">active </a>on the platform.
Are you buying when the CEOs of the Magnificent 7 are selling?
<ul>
<li>Stay in the know with our Insider Trades page — <a href="https://www.benzinga.com/sec/insider-trades/">see when leaders like Mark Zuckerberg, Elon Musk, and Jensen Huang are offloading their own shares.</a></li>
</ul>
Why It's Important: Sweeney previously clashed with Musk after his X account shared flight details of the billionaire. After previously promising to keep the account active, Musk shut it down after acquiring X, which was then known as Twitter.
"Ironically, Elon Musk, who once criticized Twitter for its lack of free speech, is now using the very same techniques — shadow-banning jet-tracking account and blocking links to public information that tracks his jet. It's just a different form of suppression, rather than outright bans," Sweeney said Tuesday.
Meta said the decision came from its Oversight Board, based on a recommendation from early 2022, according to a report from <a href="https://www.bloomberg.com/news/articles/2024-10-22/meta-bans-accounts-tracking-private-jets-for-zuckerberg-musk?sref=TBDibEcD">Bloomberg</a>. The recommendation was to remove "private residential information" from the site even if publicly available.
"Given the risk of physical harm to individuals, and in keeping with the independent Oversight Board's recommendation, we've disabled these accounts for violating our privacy policy," a Meta spokesperson said in a statement, Bloomberg reported.
Musk <a href="https://www.benzinga.com/general/entertainment/24/02/36974802/taylor-swift-right-to-be-concerned-elon-musk-calls-celebrity-jet-tracker-awful-human-being">previously called Sweeney</a> "an awful human being" when Swift and her team threatened legal action against the account creator.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/22/06/27752857/why-the-teen-who-tracks-elon-musks-jet-agreed-to-stop-monitoring-mark-cuban">Why The Teen Who Tracks Elon Musk&#8217;s Jet Agreed To Stop Monitoring Mark Cuban</a></li>
</ul>
Photo: Elon Musk via Shutterstock

Social Media

Elon Musk Jet Tracker Suspended On Threads, Instagram: 'This Situation Reflects Poorly On Meta'

JPMorgan analysts said they are encouraged by mobile gaming trends and expect spending on consoles to improve next year driven by a strong game slate. 
The research firm updated its coverage on video game companies, including Roblox Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>), Applovin Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) and Electronic Arts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>) ahead of their <a href="https://www.benzinga.com/general/gaming/24/10/41319267/us-gaming-market-sees-7-spending-decline-in-august-madden-nfl-25-debut-a-bright-spot">third-quarter earnings reports. </a>
Roblox: JPMorgan pointed to Roblox as one of the firm's favorite names in the video game industry due to its combination of healthy engagement trends, ads/commerce business ramping and free cash flow seen as compounding at 30% through 2027. 
The analysts also highlighted data suggesting Roblox's daily active users (DAUs) are <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41257301/roblox-usage-climbs-among-us-teens-analyst-raises-target-to-54">tracking above </a>estimates and potential upside to third-quarter bookings. JPMorgan maintained its Overweight rating on Roblox shares and raised the price target from $50 to $51 ahead of its earnings release on Oct. 31. 
Read Next: <a href="https://www.benzinga.com/news/24/10/41418987/nuclear-energy-stocks-are-hot-heres-a-list-of-tickers-to-watch">Nuclear Energy Stocks Are Hot: Here&#8217;s A List Of Tickers To Watch</a>
Applovin: JPMorgan highlighted Applovin as the leading in-app monetization platform for mobile gaming companies. The firm spoke with industry contacts who reported Applovin accounted for between 40% and 60% of their user acquisition spending. 
The analysts expect strong third-quarter results from the company due to stable growth in the mobile gaming industry, but remained neutral on the stock as the firm awaits evidence that Applovin can scale beyond gaming. The firm maintained its Neutral rating on Applovin, but raised the price target considerably, from $57 to $160. 
Electronic Arts: The firm pointed to EA's position as the largest pure-play game publisher in the industry that "increasingly favors scale and the largest IP" portfolio. The firm maintained its Neutral rating and $155 price target and said it is looking for "more consistent execution on non-sports titles" from <a href="https://www.benzinga.com/general/gaming/24/10/41365831/plants-vs-zombies-3-servers-shut-down-as-ea-plans-major-overhaul">the company</a>. 
Electronic Arts will be the first from the group to report its quarterly results on Oct. 29 after the market close. The Street estimates the company will report earnings of $2.02 per share on revenue of $2.036 billion, according to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>.
Read Also:&nbsp;
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<li>&nbsp;<a href="https://www.benzinga.com/news/24/10/41415824/lucid-ceo-peter-rawlinson-talks-saudi-investment-elon-musks-political-views-and-taking-business-from">Lucid CEO Peter Rawlinson Talks Saudi Investment, Elon Musk&#8217;s Political Views And Taking Business From Tesla</a></li>
</ul>
Photo: Shutterstock

Gaming

Movers

RBLX

JPMorgan Updates Video Game Industry Coverage, Taps Roblox As Top Pick

Controladora Vuela (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLRS#NYSE">VLRS</a>) .

Guidance

VLRS

Volaris expects EBITDAR margin 36% (Prior 32% to 34%), ASM growth (YoY) 13% (prior 14%) and CAPEX of $400 million.

Chardan Capital analyst Geulah Livshits maintains Editas Medicine (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EDIT#NASDAQ">EDIT</a>) with a Buy and lowers the price target from $20 to $12.

Price Target

EDIT

Chardan Capital Maintains Buy on Editas Medicine, Lowers Price Target to $12

The spin-off and merger of Berry&#39;s HHNF Business with Glatfelter are expected to be completed on November 4, 2024, subject to the satisfaction or waiver of the closing conditions for the transaction. As previously announced, in connection with the merger, Glatfelter will effect a reverse stock split and change its name to Magnera Corporation (&quot;Magnera&quot;).

BERY

Berry Global Sets Record Date Of Close Of Business On November 1, 2024 For Proposed Spin-off Of Its HHNF Business

Jones Trading analyst Jason Weaver maintains AGNC Investment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGNC#NASDAQ">AGNC</a>) with a Buy and maintains $10.25 price target.

AGNC

Jones Trading Maintains Buy on AGNC Investment, Maintains $10.25 Price Target

Brandywine Realty Tr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BDN#NYSE">BDN</a>) reported quarterly earnings of $0.23 per share which missed the analyst consensus estimate of $0.24 by 4.17 percent. This is a 20.69 percent decrease over earnings of $0.29 per share from the same period last year. The company reported quarterly sales of $131.782 million which missed the analyst consensus estimate of $134.246 million by 1.84 percent. This is a 1.86 percent increase over sales of $129.372 million the same period last year.

Earnings Misses

Brandywine Realty Tr Q3 2024 FFO $0.23 Misses $0.24 Estimate, Sales $131.782M Miss $134.246M Estimate

Macquarie analyst Tim Nollen maintains Interpublic Gr of Cos (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IPG#NYSE">IPG</a>) with a Neutral and maintains $31 price target.

Macquarie Maintains Neutral on Interpublic Gr of Cos, Maintains $31 Price Target

Brandywine Realty Tr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BDN#NYSE">BDN</a>) lowers FY2024 FFO guidance from $0.91-0.96 to $0.89-0.92 vs $0.92 analyst estimate..

Brandywine Realty Tr Lowers FY2024 FFO Guidance from $0.91-0.96 to $0.89-0.92 vs $0.92 Est

On Tuesday,&nbsp;Philip Morris International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PM#NYSE">PM</a>) reported third-quarter revenue of $9.91 billion, up 8.4% year over year, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41453988/marlboro-maker-philip-morris-highlights-strong-q3-performance-on-higher-prices-issues-upbeat-annual" rel="noreferrer noopener">consensus of $9.69 billion</a>.
Net revenues increased by 11.6% on an organic basis, mainly reflecting a favorable pricing variance, primarily due to higher combustible tobacco pricing, and a favorable volume/mix, mainly driven by higher smoke-free product volume.
Outlook: Philip Morris raised its fiscal year 2024 adjusted EPS outlook&nbsp;to $6.45-$6.51 from&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39908836/tobacco-company-philip-morris-lights-up-q2-earnings-surpass-estimates-raises-2024-eps-forecast" rel="noreferrer noopener">prior guidance of $6.33 – $6.45</a> versus the consensus of $6.41.
Goldman Sachs believes that the management&#8217;s raised guidance is attainable, citing strong momentum in iQOS, improvements in ZYN&#8217;s out-of-stock levels, growth in the smoke-free segment, and the steady performance of Philip Morris&#8217; traditional cigarette business.
Goldman reiterates the Buy rating for Philip Morris.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41030763/philip-morris-analyst-raises-forecasts-ahead-of-q3-earnings-but-consumer-elasticiti" rel="noreferrer noopener">Philip Morris Analyst Raises Forecasts Ahead Of Q3 Earnings, But &#8216;Consumer Elasticities Remain A Risk&#8217;</a>
The analyst is particularly optimistic about the significant progress in reducing ZYN out-of-stock in the U.S., aligning with insights from their recent Nicotine Nuggets Q3 Retailer Survey, which should help limit market share loss.
&#8220;Ultimately we believe management&#8217;s decision to raise guidance again this year is positive and suggests management has good visibility into its business,&#8221; the analyst writes.
The analyst says the third quarter results significantly exceeded expectations, and management raised its FY24 guidance for the third time this year.
Notably, they also increased dollar EPS growth projections, even with a larger anticipated currency headwind, highlighting the strong underlying momentum.
Price Action: PM stock is up 10.50% at $131.41 on Tuesday.
Read Next:
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<li><a href="https://www.benzinga.com/government/24/10/41462536/nvidia-accelerates-global-growth-eyes-ai-chip-development-in-india-and-expansion-in-thailand" target="_blank" rel="noreferrer noopener">Nvidia Accelerates Global Growth, Eyes AI Chip Development in India and Expansion in Thailand</a></li>
</ul>
Photo via Shutterstock

Large Cap

Reiteration

Trading Ideas

Philip Morris' Raised Guidance Suggests Good Visibility: Goldman Sachs Analyst

Wells Fargo analyst Mohit Bansal maintains Regeneron Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>) with a Overweight and lowers the price target from $1200 to $1050.

REGN

Wells Fargo Maintains Overweight on Regeneron Pharmaceuticals, Lowers Price Target to $1050

The ordinary shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on October 23, 2024, under the ticker symbol &quot;LBGJ.&quot;

IPOs

LBGJ

Li Bang International Prices IPO Of 1.52M Ordinary Shares At 4.00 Per Ordinary Share

EBTC

Enterprise Bancorp Q3 EPS $0.80 Up From $0.79 YoY, Sales $44.16M Up From $42.99M YoY

The U.S. Securities and Exchange Commission (SEC) charged four major companies — Unisys Corp.(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UIS#NYSE">UIS</a>), Avaya Holdings Corp., Check Point Software Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHKP#NASDAQ">CHKP</a>) and Mimecast — with making materially misleading public disclosures related to <a href="https://www.benzinga.com/topic/cybersecurity">cybersecurity risks and breaches</a>.
SEC argued these four companies downplayed the seriousness of the SolarWinds Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SWI#NYSE">SWI</a>) Orion software supply chain attack in their filings, potentially misleading investors about the true impact of the breaches.
"As today's enforcement actions reflect, while public companies may become targets of cyberattacks, it is incumbent upon them to not further victimize their shareholders or other members of the investing public by providing misleading disclosures about the cybersecurity incidents they have encountered,"<a href="https://www.sec.gov/newsroom/press-releases/2024-174"> said</a> Sanjay Wadhwa, acting director of the SEC's Division of Enforcement.
Unisys, a major IT services provider, was hit with an additional charge for failing to implement proper disclosure controls and procedures. The company will pay a $4 million civil penalty, the highest among the four.
The SEC found that Unisys described cybersecurity risks as hypothetical in its public disclosures despite knowing that two SolarWinds-related breaches occurred, resulting in the exfiltration of gigabytes of data. According to the SEC, Unisys&#8217; disclosures were "materially misleading" partly due to its deficient internal controls.
Other fines include $1 million for Avaya, $995,000 for Check Point and $990,000 for Mimecast.
Avaya, a telecommunications firm, claimed the SolarWinds hackers accessed only a "limited number of email messages," while SEC findings revealed the cybercriminals accessed at least 145 files in Avaya's cloud file-sharing environment.
Check Point, an Israeli cybersecurity firm, allegedly minimized the breach by using vague descriptions of the cyber intrusions and their potential risks.
Mimecast, which specializes in cloud email and data security, was found to have underreported the extent of the attack by failing to disclose the type of code exfiltrated and the number of encrypted credentials compromised.
The SolarWinds hack was a major cyberattack in 2020, during which Russian state-sponsored hackers inserted malicious code into SolarWinds' Orion software. This &#8220;Sunburst&#8221; malicious code provided attackers with remote access to the systems of thousands of organizations, including private-sector firms such as Microsoft and FireEye and major U.S. government departments such as Homeland Security and Treasury.
Although the companies have not admitted to or denied the SEC&#8217;s findings, they have agreed to pay the fines and take corrective measures to strengthen their cybersecurity practices.
The SEC filed a lawsuit in October 2023, but this July U.S. District Judge Paul Engelmayer dismissed most of the accusations against SolarWinds, ruling that claims of defrauding investors were speculative.
Read Next:<a href="https://www.benzinga.com/news/large-cap/24/10/41465485/openai-appoints-former-uber-exec-as-compliance-officer-to-oversee-regulatory-issues"> </a> • <a href="https://www.benzinga.com/news/large-cap/24/10/41465485/openai-appoints-former-uber-exec-as-compliance-officer-to-oversee-regulatory-issues">OpenAI Appoints Former Uber Exec As Compliance Officer To Oversee Regulatory Issues</a>

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SEC Charges Four Companies Over SolarWinds Hacks, Issues Millions In Penalties

There will be many storylines for the 2024 National Basketball Association season, including new faces in new places, the return of LeBron James for a 22nd season and the arrival of James' son Bronny James <a href="https://www.benzinga.com/general/sports-betting/24/07/39678086/bronny-james-to-win-nba-rookie-of-the-year-summer-league-debut-not-scaring-away-bettors-he">in the league.</a>
NBA Opening Games: The 2024 NBA season kicks off with two matchups Tuesday, Oct. 23 featuring <a href="https://www.benzinga.com/m-a/24/07/39605195/going-out-on-top-boston-celtics-for-sale-after-nba-title-large-contracts-handed-to-star-players">four playoff teams from last season.</a>
The New York Knicks at Boston Celtics will air at 7:30 p.m. ET on TNT and the Minnesota Timberwolves at Los Angeles Lakers will air at 10 p.m. ET on TNT.
The two opening games mark the start of the final season of TNT's coverage of the league, with parent company Warner Bros. Discovery (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) losing out to others in a new rights package that will<a href="https://www.benzinga.com/general/entertainment/24/07/39733479/nba-fans-rejoice-new-76b-deal-from-espn-amazon-nbc-will-bring-games-seven-days-a-week"> kick off next season.</a>
The Celtics won last year's NBA championship, with the team dominant from the start of the season to the end and favored to win the title many times throughout the season. In the 2024 NBA Playoffs, the Celtics lost only three games in four playoff series.
The Timberwolves were the number three seed in the Western Conference and lost in the Conference Finals to the Dallas Mavericks. The Knicks were the number two seed in the Eastern Conference and lost in the Conference Semifinals to the Indiana Pacers. The Lakers were the number seven seed in the Western Conference and lost in the first round to the Denver Nuggets.
The Celtics are favored by six points Tuesday night against the Knicks and the Timberwolves are favored by one point against the Lakers according to betting odds from sportsbook DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>).
Read Also: <a href="https://www.benzinga.com/general/education/24/10/41302910/why-mark-cuban-stepped-back-from-mavericks-ownership-his-kids-dont-need-all-that-abuse">Why Mark Cuban Stepped Back From Mavericks Ownership: His Kids Don&#8217;t Need &#8216;All That Abuse&#8217;</a>
<h3 class="wp-block-heading">LeBron And Bronny James Bets</h3>
One of the tipoff games features the debut of Bronny James in the NBA. In 2024, Bronny was drafted 55th overall by the Lakers — the same team his father had played for in the past six seasons.
Bronny James is a popular betting option to win Rookie of the Year, despite long odds. At DraftKings, Bronny James had odds of +25,000 to win the award, which would turn a $1 bet into a profit of $250.
At FanDuel, a unit of Flutter Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLUT#NYSE">FLUT</a>), Bronny has odds of +50,000 to win Rookie of the Year.
In the NBA preseason, Bronny <a href="https://www.espn.com/nba/story/_/id/41878872/bronny-james-scores-17-points-lakers-preseason-finale-vs-warriors">struggled </a>in the first five games with eight total points scored on 4-20 shooting, including 0-7 for three-point attempts. In the preseason finale, Bronny James had 17 points, shooting 7-17 from the field.
As Benzinga previously reported, history isn't on Bronny's side. Only three second-round picks have ever won the Rookie of the Year award. Malcom Brogdon (36th overall pick) was the last to accomplish the feat in 2017. The other two winners happened in the 1960s.
LeBron averaged 25.7 points, 7.3 rebounds and 8.3 assists last season versus career averages of 27.8 points, 6.8 rebounds and 8.8 assists.
LeBron has odds of +15,000 to win the NBA MVP for the season, which would be his fifth time winning.
On Tuesday, DraftKings lists the over/under on LeBron James for points at 24.5 and there is no line for Bronny James points. There is a betting market for the combined points for LeBron and Bronny with 28 points or more at +13t5 and 30 points or more combined at +195.
FanDuel has several special betting markets on Bronny, including the rookie having his first made field goal assisted by his dad paying at odds of +250 and Bronny's first assist being on a made shot by his dad paying at odds of +200.
The betting platform also offers betting on what Bronny's first made basket type will be, scoring 20 points or more in any NBA game, having a double-double in any NBA game and other player props.
NBA Championship Odds: The four teams that kick things off Tuesday night are all among the favorites to win the 2025 NBA Championship for the 2024 season.
The Knicks, who are owned by publicly traded Madison Square Garden Sports (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSGS#NYSE">MSGS</a>) completed a trade to land NBA superstar Karl-Anthony Towns ahead of the season, which improved their odds of winning the championship.
Here are the current betting odds to win the NBA championship, with odds from July in parentheses:
<ul>
<li>Boston Celtics: +310 (+295)</li>
<li>Oklahoma City Thunder: +650 (+850)</li>
<li>New York Knicks: +800 (+950)</li>
<li>Denver Nuggets: +950 (+850)</li>
<li>Minnesota Timberwolves: +1,000 (+1,000)</li>
<li>Philadelphia 76ers: +1,000 (+800)</li>
<li>Dallas Mavericks: +1,000 (+1,000)</li>
<li>Milwaukee Bucks: +1,400 (+1,100)</li>
<li>Los Angeles Lakers: +3,000 (+3,000)</li>
<li>Phoenix Suns: +3,000 (+3,500)</li>
</ul>
The top 10 favorites to win the NBA title haven't changed, only the order of the betting odds.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/politics/24/10/41304838/nba-legend-shaq-admitted-that-he-never-voted-in-presidential-election-until-2020-as-he-urged-oth">NBA Legend Shaq Admitted That He &#8216;Never Voted&#8217; In Presidential Election Until 2020 As He Urged Others To Register: &#8216;One Thing I Never Like To Do Is Be A Hypocrite&#8217;</a></li>
</ul>
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