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Lyell Immunopharma (NASDAQ:LYEL) Stock, Chaîne d'Options

Lyell Immunopharma

Lyell Immunopharma Inc is a clinical-stage cell therapy company. It has a pipeline of product candidates for patients with solid tumors utilizing ex vivo genetic and epigenetic T-cell reprogramming technologies. The company's product pipeline includes, LYL797, LYL119, LYL845 among others.

Lyell Immunopharma Inc

Earnings

Earnings Beats

Earnings Misses

News

MGIC

Magic Software Q3 2024 Adj. EPS $0.23 Misses $0.25 Estimate, Sales $142.968M Beat $137.776M Estimate

Alibaba Group Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) plans to issue U.S. dollars and Chinese yuan bonds to raise capital. The company aims to repay existing debt and support an ongoing stock buyback initiative.
The decision to tap the bond market comes as the company seeks to leverage low global interest rates, providing an opportunity to replenish its capital base while enhancing shareholder value.
Also Read: <a target="_blank" href="https://www.benzinga.com/media/24/11/41984426/nvidia-powers-teslas-humanoid-robots-with-new-ai-tech-heres-what-to-expect-in-2025" rel="noreferrer noopener">Nvidia Powers Tesla&#8217;s Humanoid Robots With New AI Tech: Here&#8217;s What To Expect In 2025</a>
The exact principal amount, interest rates, and maturity terms for the bonds will be determined at the time of pricing, SCMP <a target="_blank" href="https://www.scmp.com/tech/big-tech/article/3287038/alibaba-sell-bonds-repay-debt-fund-stock-buy-back-amid-low-interest-rates" rel="noreferrer noopener">cites</a> a filing with the Hong Kong Stock Exchange.
The issuance will likely generate up to $5 billion, with Reuters indicating the dollar-denominated bonds will have maturities of 5.5, 10.5, and 30 years.
The yuan-denominated bonds will carry tenors of 3.5, 5, 10, and 20 years, showcasing a broad range of options for potential investors.
Market analysts suggest that declining interest rates in the Asia-Pacific region have made debt issuance an attractive option for companies like Alibaba. This enables them to execute share buybacks and invest strategically without incurring high financing costs.
Kenny Ng Lai-yin, a strategist at Everbright Securities International, told the SCMP that this environment offers a unique chance for firms to enhance capital returns through debt financing.
Last week, Alibaba reported <a target="_blank" href="https://www.benzinga.com/news/earnings/24/11/42006281/alibaba-q2-earnings-revenue-beats-forecast-cloud-and-international-sales-shine-free-cash-flow-falls-amid-strategic-investments" rel="noreferrer noopener">fiscal second-quarter 2024</a> revenue growth of 5% to $33.70 billion, beating the analyst consensus of $33.47 billion.
Taobao and Tmall Group revenue grew by 1% to $14.11 billion,
Alibaba International Digital Commerce Group&#8217;s revenue increased by 29% to $4.51 billion, and Local Services Group revenue grew by 14% to $2.53 billion.&nbsp;
Cainiao Smart Logistics Network Limited&#8217;s revenue increased 8% to $3.51 billion.&nbsp; Cloud Intelligence Group revenue grew by 7% to $4.22 billion.&nbsp;
As of September 30, Alibaba reported total outstanding liabilities of 202.2 billion yuan ($27.9 billion) in bank loans and bonds, marking an 18% increase since March.
The company raised $5.5 billion in May through a convertible bond issue. The current bond offering aligns with Alibaba&#8217;s aggressive stock repurchase program, initiated during the pandemic in 2020.
Yields on U.S. Treasuries are currently around 4.31% for five-year notes, 4.44% for ten-year notes, and 3.62% for thirty-year bonds. In contrast, Chinese government bonds offer significantly lower yields, with three-year and five-year bonds yielding 1.35% and 1.7%, respectively.
This disparity provides Alibaba with favorable conditions for its planned bond issuance, reducing the overall cost of borrowing.
The company&#8217;s strategic push to increase buybacks reflects a broader trend among top Chinese tech firms, driven by steep declines in stock valuations.
Alibaba&#8217;s shares have fallen approximately 70% from their peak in late 2020 despite continued growth in sales and profits due to economic weakness, domestic regulatory crackdown, and <a target="_blank" href="https://www.benzinga.com/24/11/41911946/whats-going-on-with-us-listed-chinese-stocks-like-alibaba-jd-nio-on-tuesday" rel="noreferrer noopener">disappointing fiscal stimulus</a>.
During the third quarter, Alibaba repurchased $4.1 billion worth of shares, reducing its outstanding share count by 2.1% from the end of June. The company&#8217;s CFO, Toby Xu Hong, emphasized the importance of these buybacks as a signal of confidence in Alibaba&#8217;s business outlook.
Michael Burry&#8217;s fund <a target="_blank" href="https://www.benzinga.com/news/global/24/11/42002224/big-short-investor-michael-burry-doubles-down-on-chinese-tech-stocks-while-adding-protective-hedges" rel="noreferrer noopener">increased its stakes in</a> Alibaba, JD.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>), and Baidu Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>), making Chinese tech its largest holdings.
Despite boosting exposure, Burry hedged risks by purchasing put options, signaling caution on potential market volatility.
Price Action:&nbsp;BABA stock is up 0.42% at $88.96 premarket at&nbsp;the last check on Monday.
Also Read:
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<li><a href="https://www.benzinga.com/government/regulations/24/11/41981957/meta-hit-with-841-million-eu-fine-over-antitrust-violations-tied-to-facebook-marketplace" target="_blank" rel="noreferrer noopener">Meta Hit With $841 Million EU Fine Over Antitrust Violations Tied To Facebook Marketplace</a></li>
</ul>
Image via Shutterstock

Emerging Markets

Offerings

Buybacks

Tech

Media

BABA

BIDU

Citigourp Global Markets 2% Protected Notes Linked To The Djia

Alibaba Eyes Raising $5 Billion Via Bond Sale to Fund Debt Payoff and Stock Buybacks

Perpetua Resources Corp. (Nasdaq:&nbsp;PPTA) (TSX:<a class="ticker" href="https://www.benzinga.com/stock/PPTA#TSX">PPTA</a>)&nbsp;("Perpetua Resources" or the "Company") today announced the launch of a public offering of 3,439,465 shares of its common stock (the "Common Shares") in the United States ( the "Offering").
The Company expects to use the net proceeds of the Offering for down payments on long lead time materials, detailed engineering for its Stibnite Gold Project, and general corporate purposes.
The Common Shares will be offered by the Company with BMO Capital Markets and National Bank of Canada Financial Markets acting as joint lead book-running managers and RBC Capital Markets and Cantor acting as joint book-running managers (collectively, the "Underwriters").&nbsp;
Perpetua Resources intends to grant the Underwriters an option, exercisable for a period of 30 days from the date hereof, to purchase up to an additional 515,919 Common Shares representing up to 15% of the number of Common Shares to be sold pursuant to the Offering.

PPTA

TSX:PPTA

Perpetua Resources Launches Public Offering Of 3.44 Million Shares to Fund Stibnite Gold Project Expansion

Spirit Airlines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) shares are trading higher premarket on Monday. The company disclosed a restructuring support agreement (RSA) with a supermajority of its loyalty and convertible bondholders to implement a <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n42030743/spirit-airlines-announces-comprehensive-agreement-to-deleverage-balance-sheet-and-position-the-com" rel="noreferrer noopener">comprehensive balance sheet restructuring</a>.
The plan aims to reduce debt, enhance financial flexibility, support long-term success, and accelerate investments to improve guest travel experiences and value.
The company&#8217;s key measures include a $350 million backstopped equity investment from existing bondholders and the equitization of $795 million in funded debt.
Additionally, bondholders are providing $300 million in DIP financing, complemented by Spirit&#8217;s cash reserves and operational cash flow, to support the restructuring process.
Spirit has filed a Plan of Reorganization as part of its Chapter 11 process, incorporating the terms of the RSA and awaiting Court approval.
With support from a supermajority of loyalty and convertible bondholders, the company expects to emerge from Chapter 11 in the&nbsp;first quarter of 2025.
First-day motions are also being filed to ensure normal business operations during the process.
As a result of the filing, Spirit anticipates being delisted from the NYSE soon, with its common stock continuing to trade over-the-counter. The shares are expected to be canceled and hold no value as part of the restructuring.
Ted Christie, Spirit&#8217;s President and Chief Executive Officer, said, &#8220;This set of transactions will materially strengthen our balance sheet and position Spirit for the future while we continue executing on our strategic initiatives to transform our Guest experience, providing new enhanced travel options, greater value and increased flexibility.&#8221;&nbsp;
Last week, Spirit filed the form, signaling it cannot submit its 2024 third-quarter earnings on time, as the company has diverted resources from reviewing and completing financial statements to<a target="_blank" href="https://www.benzinga.com/trading-ideas/movers/24/11/41946520/whats-going-on-with-spirit-airlines-stock-wednesday-2" rel="noreferrer noopener"> ongoing debt restructuring discussions</a>.
This came after Spirit&#8217;s merger conversations with Fronter Group Holdings Inc. and and its takeover by&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/11/41932146/spirit-airlines-nears-bankruptcy-creditors-may-approve-equity-cancellation-heres-what-it-means-for-investors-as-shares-fall-with-a-thud" rel="noreferrer noopener">JetBlue Airways</a><a target="_blank" href="https://www.benzinga.com/news/earnings/24/11/41932146/spirit-airlines-nears-bankruptcy-creditors-may-approve-equity-cancellation-heres-what-it-means-for-investors-as-shares-fall-with-a-thud" rel="noreferrer noopener"> fell through</a>.
Price Action: SAVE shares are up 3.70% at $1.12 premarket at the last check Monday.
Photo: Courtesy of Smart Calendar via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/ma/24/11/42025534/deal-dispatch-shell-unilever-and-more-are-on-the-sell-side-the-onion-makes-alex-jones-cry-foul" target="_blank" rel="noreferrer noopener">Deal Dispatch: Shell, Unilever And More Are On The Sell Side; The Onion Makes Alex Jones Cry Foul</a></li>
</ul>

Equities

Small Cap

Movers

SAVE

Spirit Airlines Eyes Restructuring With Chapter 11 Filing And Equity Injection

DThe Board of Directors of CVS Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) today announced the appointment of four new board members: Leslie Norwalk, Larry Robbins, Guy Sansone, and Doug Shulman, following productive discussions with Glenview Capital Management.
"In our discussions with the leadership at Glenview, we agreed that we can deliver greater value from our integrated businesses to all of our stakeholders, including our customers, consumers, colleagues, and shareholders," said Roger Farah, Executive Chairman of the Board, CVS Health. "Having Leslie, Larry, Guy, and Doug join our Board will add new thinking and deep market and industry experiences as we focus on driving greater financial and operational performance."
"As we build momentum across our integrated model, we continue to take actions that are positive for our long-term success, while driving innovation and performance in our individual businesses and at CVS Health overall," said David Joyner, president and chief executive officer of CVS Health. "Adding four experienced thought leaders to our Board further sharpens our focus on executing against our strategy to build a world of health around every consumer, as we improve total cost of care and customer experience in health care."
"We welcome the opportunity to join the Board, roll up our sleeves and lock arms with the Board and leadership team to drive long-term, sustainable value through continued customer-centric offerings, commitment to compliance and quality, disciplined underwriting and risk management, aligned incentives, and optimal capital allocation," said Larry Robbins, CEO of Glenview Capital Management.&nbsp; "We appreciate the Board engaging with us on a cooperative basis that allows all energies to be productively dedicated towards further strengthening this iconic company."
Norwalk will join the Health Services Committee, Sansone will join the Audit Committee, and Shulman will join the Management Planning and Development Committee.

Management

CVS Health Adds Four New Directors Leslie Norwalk, Larry Robbins, Guy Sansone, and Doug Shulman After Discussing With Glenview Capital Management, Strengthening Board With Industry Veterans

"The Board of Directors' approval of this stock repurchase program reflects confidence in the Company's balance sheet and business outlook," said Rajiv K. Prasad, President and Chief Executive Officer of Hyster-Yale, Inc. "This stock repurchase authorization is well aligned with our capital allocation strategy designed to support long-term profitable growth and fuel shareholder return as the business generates free cash flow."

Hyster-Yale Approves $50M Buyback Plan, Aims To Repurchase Up To 1.5M Shares

Tuya&nbsp;Inc. ("Tuya")&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TUYA#NYSE">TUYA</a>, HKEX: 2391))), a global leading cloud platform service provider, today announced that a definitive agreement has been entered into in respect of a strategic investment by 65 Equity Partners through its purchase of an approximate 13% of Tuya's total issued shares from New Enterprise Associates ("NEA").
65 Equity Partners is an independently managed wholly-owned investment platform of Temasek dedicated to supporting founders in their growth journey. The firm focuses on investing in family-owned and entrepreneur-led businesses in Southeast Asia, Europe and the United States across the technology, business services, consumer, industrials and healthcare sectors.
Tan Chong Lee, CEO of 65 Equity Partners said: "This investment via the Anchor Fund aligns strategically with our mandate of supporting high quality businesses seeking a listing on the SGX. We are pleased to support Tuya in its next phase of growth." Karan Saraf of 65 Equity Partners added: "Tuya is the global leader in the smart solution developer ecosystem, with a highly differentiated competitive positioning across smart cloud-based software and device solutions. We are thrilled to be part of Tuya's exciting journey where its strong leadership, brand and ethos of innovation have attracted a highly diverse global customer base."
Jerry Wang, Founder and CEO of Tuya, stated: "We are delighted&nbsp;to welcome 65 Equity Partners&nbsp;as a significant shareholder of Tuya. This investment reflects their confidence in our vision to capture growing international markets as the key enabler of global AIoT, intelligent devices, commercial and industry applications, by empowering over one million developers worldwide with our unique cloud platform. The Asia-Pacific region, particularly Southeast Asia,&nbsp;represents an enormous opportunity for us as it is a fast-growing emerging market. We believe the investment from 65 Equity Partners aligns seamlessly with our international expansion strategy and offers possibilities for a future additional listing on the SGX, which&nbsp;will further enhance Tuya's presence in the global capital markets. We also deeply appreciate NEA's support throughout our journey and value their continued role as an important shareholder of Tuya."

TUYA

Tuya Gains Major Backing From Temasek's 65 Equity Partners In Strategic Expansion Move

Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) is gearing up for an ambitious global expansion, setting its sights on significantly increasing its production capacity.
The company plans to initiate construction on several new semiconductor fabrication plants worldwide by 2025, with more than ten facilities either newly built or under construction, Economic Daily News <a target="_blank" href="https://udn.com/news/story/7240/8366464" rel="noreferrer noopener">reports</a>.
The contract chipmaker&#8217;s substantial capital investment will likely climb to unparalleled levels in 2025, with legal forecasts suggesting expenditures could range from $34 billion to $38 billion, pushing the company&#8217;s capital outlay to record highs.
Also Read: <a target="_blank" href="https://www.benzinga.com/media/24/11/42008569/salesforce-loses-ai-chief-amid-major-push-for-autonomous-agents" rel="noreferrer noopener">Salesforce Loses AI Chief Amid Major Push for Autonomous Agents</a>
Industry insiders told Economic Daily News this surge in capital spending is a direct response to the growing demand for advanced semiconductor manufacturing processes, including the ramp-up of 2-nanometer technology.
Taiwan Semiconductor&#8217;s ongoing expansion involves multiple projects within Taiwan, including significant developments in Hsinchu and Kaohsiung.
According to the report, these locations will likely serve as core production bases for advanced 2-nanometer chips. Four fabrication plants, focusing on cutting-edge wafer manufacturing, are planned across these two regions.
Additionally, advanced packaging facilities are under development, incorporating the latest CoWoS (Chip-on-Wafer-on-Substrate) and SoIC (System-on-Integrated-Chips) technologies.
On the international front, Taiwan Semiconductor is moving forward with its plans for new plants in key overseas markets.
The company has confirmed that construction of its second factory in Japan&#8217;s Kumamoto region will commence in early 2025, targeting mass production by 2027.
In the United States, Taiwan Semiconductor is advancing with the buildout of a second wafer fab in Arizona, while a specialized process facility in Dresden, Germany, is also making headway.
Industry data told Economic Daily News that Taiwan Semiconductor&#8217;s aggressive growth trajectory will lead to an average of five new factories annually between 2022 and 2023. In 2024, this pace is expected to accelerate, with the company planning to build seven new facilities, including three advanced wafer fabs and two state-of-the-art packaging plants, alongside two overseas factories.
By 2025, Taiwan Semiconductor aims to exceed ten simultaneous projects globally—a first for the semiconductor sector and a significant boost to the company&#8217;s output capacity.
Taiwan Semiconductor will receive up to <a target="_blank" href="https://www.benzinga.com/government/regulations/24/11/42011035/just-before-bidens-term-ends-taiwan-semiconductor-lands-6-6-billion-in-us-funding-to-build-advanced-chip-plants" rel="noreferrer noopener">$6.6 billion in U.S. funding</a> and $5 billion in proposed loans to develop advanced semiconductor plants in Arizona, strengthening local chip production.
The contract chipmaker&#8217;s Arizona facilities will likely begin operations in early 2025, producing chips for future technologies like 5G/6G networks and AI applications.
The chip manufacturer has accelerated its use of extreme ultraviolet (EUV) lithography systems, a crucial tool in semiconductor production, despite their high costs. Each EUV system exceeds $100 million, ranking among the priciest equipment in the industry.
Analysts estimate that Taiwan Semiconductor has expanded its EUV capacity significantly, growing its global share of EUV installations from 50% in 2020 to 56% in 2023.
Taiwan Semiconductor stock surged over 83% year-to-date.
Price Action: TSM stock traded lower by 1.11% to $183.95 premarket at the last check on Monday.
Also Read:
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<li><a href="https://www.benzinga.com/24/11/42005094/lenovo-q2-earnings-cloud-momentum-ai-pcs-and-smartphone-growth-drive-revenue-beat" target="_blank" rel="noreferrer noopener">Lenovo Q2 Earnings: Cloud Momentum, AI PCs, And Smartphone Growth Drive Revenue Beat</a></li>
</ul>
Photo by wakamatsu.h via Shutterstock

Government

Regulations

Taiwan Semiconductor Plans Major Global Expansion, Sets Record $38 Billion Investment Target

HC Wainwright &amp; Co. analyst Mitchell Kapoor reiterates Zura Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZURA#NASDAQ">ZURA</a>) with a Neutral and maintains $5 price target.

Price Target

Reiteration

Analyst Ratings

ZURA

HC Wainwright & Co. Reiterates Neutral on Zura Bio, Maintains $5 Price Target

HC Wainwright &amp; Co. analyst Mitchell Kapoor reiterates Instil Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TIL#NASDAQ">TIL</a>) with a Buy and maintains $110 price target.

HC Wainwright & Co. Reiterates Buy on Instil Bio, Maintains $110 Price Target

Chinese electric scooter company Niu Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIU#NASDAQ">NIU</a>) reported a fiscal third-quarter 2024 revenue growth of 10.5% to 1.02 billion Chinese yuan ($145.90 million), mainly due to an increase in sales volume of 17.5%, partially offset by a decrease in&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/g42029845/niu-technologies-announces-unaudited-third-quarter-2024-financial-results" rel="noreferrer noopener">revenues per e-scooter of 6.0%</a>.
The company reported&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">loss per ADS of&nbsp;$(0.07)</a>.&nbsp;Adjusted&nbsp;net loss was (34.25) million&nbsp;Chinese yuan, compared to&nbsp;(69.96) million Chinese yuan loss a year ago.&nbsp;
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41986215/disneys-streaming-profits-and-park-rebound-lead-the-way-analyst" rel="noreferrer noopener">Disney&#8217;s Streaming Profits And Park Rebound Lead The Way: Analyst</a>
The number of e-scooters sold increased by 17.5%&nbsp;Y/Y&nbsp;to 312,405, with sales in China growing by 12.4%.&nbsp;International e-scooter sales climbed 50.3% to 53,311 units. The number of franchised stores in China was 3,345 as of September 30, 2024.
The quarterly gross margin declined 760 basis points Y/Y to 13.8%, mainly due to a higher proportion of kick-scooter sales in international markets, changes in the product mix of e-scooters, and increased sales incentives to franchisees in the Chinese market.
The operating loss for the quarter was (58.49) million&nbsp;Chinese yuan versus&nbsp;a loss of (89.52) million Chinese yuan a year ago.&nbsp;The&nbsp;company held 1.05 billion Chinese yuan in cash and equivalents&nbsp;as of September 30, 2024.
CEO Yan Li noted that third-quarter sales growth fell short of targets due to recent policy changes in China affecting sales timing. However, retail demand remains robust, and the upcoming product lineup aligns with the new regulations, positioning the company well to manage these shifts. The launch of the NX Hyper electric motorcycle represents a key milestone, emphasizing a focus on performance and innovation.
Li added that the company has maintained a strong pace of new store openings this year, creating a solid base for future growth. At the recent Milan EICMA event, they introduced a series of new scooters, highlighting advanced design and innovative technology. These models will soon launch in the EU and the US.
Li expressed confidence in navigating market changes and delivering strong performance.
Outlook: Niu&nbsp;expects <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">fourth-quarter&nbsp;revenues</a> of 622 million Chinese yuan &#8211; 718 million Chinese yuan, representing a&nbsp;30%-50%&nbsp;Y/Y&nbsp;increase.
Niu Technologies stock plunged 7% year-to-date.
Price Action: NIU shares closed lower by 0.50% at $1.99 on Friday.
Also Read:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41985546/rivian-volkswagen-deal-strengthens-finances-yet-ev-market-risks-remain-goldman-sachs" target="_blank" rel="noreferrer noopener">Rivian-Volkswagen Deal Strengthens Finances, Yet EV Market Risks Remain: Goldman Sachs</a></li>
</ul>

Guidance

Niu Q3 Earnings: Scooter Volume Up, But Price Drops And Margins Tighten, Strong Q4 Outlook And More

Biotech

Large Cap

Health Care

General

AstraZeneca's Tagrisso (Osimertinib) Has Been Recommended For Approval In The European Union For Adult Patients With Locally Advanced, Unresectable Non-small Cell Lung Cancer With Unresectable Epidermal Growth Factor Receptor-Mutated Lung Cancer

HC Wainwright &amp; Co. analyst Scott Buck reiterates East Side Games Grp (TSX:<a class="ticker" href="https://www.benzinga.com/stock/EAGR#TSX">EAGR</a>) with a Buy and maintains C$3 price target.

TSX:EAGR

HC Wainwright & Co. Reiterates Buy on East Side Games Grp, Maintains C$3 Price Target

Prenetics In Partnership With David Beckham, Announced The Official Launch Of IM8, A Health And Wellness Brand that Introduces Two Premium Products, Daily Ultimate Essentials, And Daily Ultimate Longevity, Both Now Available For Purchase At IM8Health.Com, With Shipping To 31 Countries, Including Free Shipping To US, UK, Canada, Singapore, And Hong Kong

HC Wainwright &amp; Co. analyst Amit Dayal maintains Plug Power (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) with a Buy and lowers the price target from $18 to $5.

PLUG

HC Wainwright & Co. Maintains Buy on Plug Power, Lowers Price Target to $5

On Friday, November 15, U.S. markets closed lower, with the S&amp;P 500 and Nasdaq recording their steepest losses in two weeks. The decline was fueled by worries over delayed interest rate cuts, reactions to economic data, and Trump&#8217;s cabinet picks, including Robert F. Kennedy Jr., raising vaccine policy concerns.
Related: <a target="_blank" href="https://www.benzinga.com/24/11/42013119/whats-going-on-with-large-european-and-us-vaccine-makers" rel="noreferrer noopener">European And U.S. Vaccine Stocks Are Under Pressure &#8211; Here&#8217;s Why</a>
According to economic data, U.S. export prices rose by 0.8% in October, while import prices increased by 0.3%. Retail sales grew 0.4% month-over-month, exceeding market expectations of 0.3% but lower than September&#8217;s revised 0.8% gain.
Most S&amp;P 500 sectors fell, led by losses in tech, communication services, and healthcare, while utilities and financials gained, defying the broader market trend.
The Dow Jones Industrial Average was down 0.47% and closed at 43,750.86, the S&amp;P 500 declined 0.50% to 5,949.17, and the Nasdaq Composite slid 0.64% to finish at 19,107.65.
Asia Markets Today
<ul>
<li>On Monday, Japan&#8217;s Nikkei 225 declined 1.05% and ended the session at 38,232.50, led by losses in the Real Estate, Shipbuilding, and Financial Services sectors.</li>
<li>Australia&#8217;s S&amp;P/ASX 200 rose 0.18% and ended the day at 8,300.20, led by gains in the Consumer Staples, Utilities and Gold sectors.</li>
<li>India&#8217;s Nifty 50 closed 0.50% lower at 23,462.70, and Nifty 500 down 0.28% at 21,901.10, led by losses in the Technology, Oil &amp; Gas, and Fast Moving Consumer Goods sectors.</li>
<li>China&#8217;s Shanghai Composite declined 0.21% to close at 3,323.85, and the Shenzhen CSI 300 fell 0.46%, finishing the day at 3,950.38.</li>
<li>Hong Kong&#8217;s Hang Seng gained 0.77% and closed the session at 19,576.61.</li>
</ul>
Eurozone at 05:30 AM ET
<ul>
<li>The European STOXX 50 index was down 0.27%.</li>
<li>Germany&#8217;s DAX slid 0.08%.</li>
<li>France&#8217;s CAC fell 0.00%.</li>
<li>FTSE 100 index traded higher by 0.30%</li>
</ul>
Commodities at 05:30 AM ET
<ul>
<li>Crude Oil WTI was trading higher by 0.70% at $67.39/bbl, and Brent was up 0.73% at $71.56/bbl.</li>
<li>Oil prices rose amid the escalating Russia-Ukraine conflict. However, market gains were tempered by weak demand in China and a global oil surplus forecast. U.S. support for Ukrainian strikes against Russia increased geopolitical risks.</li>
<li>Natural Gas rose 2.34% to $2.888.</li>
<li>Gold was trading higher by 0.99% at $2,595.80, Silver gained 1.27% to $30.820, and Copper rose 0.46% to $4.0830.</li>
<li>Gold prices rose, supported by a slowing dollar rally. Investors await Federal Reserve comments amid strong U.S. economic data reducing expectations for December rate cuts.</li>
</ul>
U.S. Futures at 05:30 AM ET
Dow futures declined 0.22%, S&amp;P 500 futures up 0.02%, and Nasdaq 100 futures gained 0.35%.
Forex at 05:30 AM ET
<ul>
<li>The U.S. dollar index gained 0.02% to 106.70, the USD/JPY rose 0.41% to 154.97, and the USD/AUD rose 0.08% to 1.5484.</li>
<li>The dollar strengthened against the yen as Bank of Japan Governor Kazuo Ueda signaled potential future rate hikes without confirming timing.</li>
</ul>
Image via Shutterstock

Asia

Eurozone

Futures

Commodities

Forex

Markets

ADIV

AGOV

ASHR

BBEU

BOIL

CQQQ

PowerShares DBmmodity Index Optimum Yield Diversified Fund

EEMA

FLAX

CurrencyShares British Pound Sterling Trust

IEMG

IEUR

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

KDIV

SPEM

USDU

PowerShares DB US Dollar Index Bullish Fund

Asia And Europe Markets Mostly Lower, Dollar's Uptrend Continues - Global Markets Today While US Slept

HC Wainwright &amp; Co. analyst Amit Dayal reiterates Microvast Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MVST#NASDAQ">MVST</a>) with a Buy and maintains $3 price target.

MVST

HC Wainwright & Co. Reiterates Buy on Microvast Holdings, Maintains $3 Price Target

Company also announces certification of FlashBlade//S500 with NVIDIA DGX SuperPOD for the most demanding AI data center requirements

NVDA

PSTG

Pure Storage Rolls Out GenAI Pod To Accelerate Enterprise AI Innovation, Partners With NVIDIA For Certified AI Data Center Solutions

Swvl Holdings Corp ("Swvl" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWVL#NASDAQ">SWVL</a>), a leading provider of technology-driven mobility solutions for enterprises and governments, today announced its entry into a definitive agreement with certain investors, including several members of its board of directors, to purchase $4.7 million of ordinary shares (or their equivalent) in a private placement, at a purchase price of $4.79 per share (its closing price on November 15, 2024). The purchasers have agreed to lock up the securities purchased in the offering for a period of 6 months, and also to transfer less than 20 percent of the securities purchased for each 90-day period thereafter in an amount not more than 20 percent of the trading volume on the date of sale.
The private placement is expected to close on or about November 18, 2024, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the private placement for working capital and general corporate purposes, including the expansion of its operations in the United States.

SWVL

Swvl Announces $4.7M Private Placement To Fund U.S. Expansion Amid Investor Backing

SINT

SINTX Technologies Board Plans Buy Back Up To $500K Of Outstanding Common Stock Over Next Several Quarters Which Equates To About 20% Of Total Outstanding Shares

Lyell Immunopharma (LYEL) announced that it has entered into a definitive agreement to acquire ImmPACT Bio, a privately-owned clinical-stage biotec...

Lyell to acquire ImmPACT Bio, discontinue LYL797 and LYL845 programs

Lyell Immunopharma: Oversold And Poised For A Turning Point To Growth

In a report released today, Mitchell Kapoor from H.C. Wainwright reiterated a Hold rating on Lyell Immunopharma (LYEL – Research Report), with a pr...

Neutral Rating for Lyell Immunopharma Amid Strategic Shifts and Competitive Challenges

BofA analyst Geoff Meacham downgraded Lyell Immunopharma (LYEL) to Underperform from Buy with a price target of $1, down from $6. Published first o...

Lyell Immunopharma downgraded to Underperform from Buy at BofA

Lyell cut to underperform by BofA, pipeline reorganization cited

Lyell Immunopharma ( ($LYEL) ) has issued an announcement. Lyell Immunopharma, a leader in next-generation CAR T-cell therapies, has acquired ImmPA...

Lyell Immunopharma's Strategic Moves and Leadership Expansion

Warning: LYEL is at high risk of performing badly

What has Wall Street been buzzing about this week? Here are the top 5 Buy calls and the top 5 Sell calls made by Wall Street's best analysts during...

Buy/Sell: Wall Street's top 10 stock calls this week

Lyell Immunopharma, Inc. ( ($LYEL) ) has released its Q3 earnings. Here is a breakdown of the information Lyell Immunopharma, Inc. presented to its...

Lyell Immunopharma Reports Q3 2024 Financial Results

Mitchell Kapoor, an analyst from H.C. Wainwright, reiterated the Hold rating on Lyell Immunopharma (LYEL – Research Report). The associated price t...

Mitchell Kapoor Maintains Hold Rating on Lyell Immunopharma Amid Promising IMPT-314 Results and Market Challenges

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Press Releases

Lyell Immunopharma to Participate in the Goldman Sachs Global Healthcare Conference

Lyell Immunopharma Reports Dose-dependent Clinical Activity from Phase 1 Trial of LYL797, a ROR1-targeted CAR-T Cell Product Candidate Enhanced with its Proprietary Anti-exhaustion Technology

Lyell Immunopharma Reports Business Highlights and Financial Results for the Second Quarter 2024

Lyell Immunopharma Announces Participation in September Investor Conferences

Lyell Immunopharma Announces Participation in Goldman Sachs Cell Therapy Day

Lyell Immunopharma Announces the Acceptance Abstracts for Presentation at 2024 Society for Immunotherapy of Cancer (SITC) Annual Meeting

Lyell Immunopharma to Acquire ImmPACT Bio and Prioritizes its Pipeline to Focus on Next-Generation CAR T-cell Therapies

Lyell Immunopharma Completes Acquisition of ImmPACT Bio

Lyell Announces Presentation of Initial Clinical Data from the Phase 1-2 Clinical Trial of IMPT-314 for the treatment of B-cell Lymphoma at the 2024 American Society of Hematology (ASH) Annual Meeting

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Lyell Immunopharma

Lyell Immunopharma (LYEL) Options

Lyell Immunopharma (NASDAQ:LYEL) Stock, Chaîne d'Options

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PARTENAIRE / CONTRIBUTEUR

BENZINGA MONDIAL