Dernières nouvelles pour Planet Fitness (NYSE:PLNT) Stock

Planet Fitness

Planet Fitness Inc is a franchisor and operator of fitness centers in the United States. The company's reportable segments are Franchise, Corporate-owned stores, and Equipment. Franchise segment includes operations related to its franchising business in the United States, Puerto Rico, Canada, Panama, Mexico and Australia, Corporate-owned stores segment includes operations with respect to all corporate-owned stores throughout the United States and Canada, and The Equipment segment includes the sale of equipment to franchisee-owned stores in the U.S. The firm generates a majority of its revenue from the Corporate-owned stores segment.

Planet Fitness Inc

PROLIANCE INTL INC by Proliance International, Inc.

Proliance International Inc

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.
The three major stock indices extended their winning streak to six consecutive weeks, marking the longest stretch of gains for both the Dow Jones and S&amp;P 500 this year. The Dow rose 0.96%, the S&amp;P 500 increased by 0.85%, and the Nasdaq advanced 0.80%.
Retail sales in September exceeded expectations, and a significant drop in jobless claims added to the view that the U.S. economy is still robust. This strong economic momentum has led some analysts to reassess the Federal Reserve&#8217;s future course of action, with many now questioning the likelihood of additional interest rate cuts.
However, rising Treasury yields have impacted the housing market, causing a sharp increase in mortgage rates and a corresponding drop in mortgage applications. Homebuyer demand experienced its steepest decline since April 2020, as potential buyers pulled back due <a href="https://www.benzinga.com/markets/asia/24/10/41411026/bank-earnings-propel-wall-street-to-record-peaks-oil-plunges-below-70-gold-shines-at-all-time-highs">to the higher borrowing costs.</a>
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
&#8220;<a href="https://www.benzinga.com/markets/equities/24/10/41328252/apples-iphone-16-powers-record-sales-in-q3-just-behind-samsung-in-global-market-share-battle">Apple&#8217;s iPhone 16 Powers Record Sales In Q3, Just Behind Samsung In Global Market Share Battle</a>,&#8221; by <a href="https://www.benzinga.com/author/rounak-jain">Rounak Jain</a>, reports that Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) achieved record iPhone sales in Q3 2024, securing 18% global market share, just behind Samsung Electronics Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>), as the global smartphone market grows by 5% year-over-year.
&#8220;<a href="https://www.benzinga.com/news/24/10/41321236/sam-altmans-oklo-jumps-on-google-nuclear-deal-whats-going-on">Sam Altman&#8217;s Oklo Jumps On Google Nuclear Deal: What&#8217;s Going On?</a>,&#8221; by <a href="https://www.benzinga.com/author/adam-eckert">Adam Eckert</a>, reports on Oklo Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKLO#NYSE">OKLO</a>) shares rising after Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) announced plans to use nuclear energy, with speculation that Sam Altman&#8216;s connections may position Oklo for future deals with tech giants.
&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41374086/dogecoin-shiba-inu-pepe-may-have-overtaken-these-nasdaq-listed-companies-toward-billion-do">Dogecoin, Shiba Inu, Pepe May Have Overtaken These Nasdaq-Listed Companies Toward Billion-Dollar Valuations, But There&#8217;s A Catch</a>,&#8221; by <a href="https://www.benzinga.com/author/aniket-verma">Aniket Verma</a>, reports on how meme coins like Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>), and Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>) reached billion-dollar valuations faster than traditional companies like Nutanix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTNX#NASDAQ">NTNX</a>) and Nice Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NICE#NASDAQ">NICE</a>).
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41406623/netflix-should-continue-to-outperform-6-analysts-on-streaming-stocks-q3-earnings">Netflix &#8216;Should Continue To Outperform&#8217;: 6 Analysts On Streaming Stock&#8217;s Q3 Earnings</a>
<a href="https://www.benzinga.com/trading-ideas/technicals/24/10/41342499/unlikely-s-p-500-stock-leaves-nvidia-behind-with-241-gain-in-2024">Unlikely S&amp;P 500 Stock Leaves Nvidia Behind With 241% Gain In 2024</a>
<a href="https://www.benzinga.com/markets/equities/24/10/41364980/russell-2000-poised-for-major-technical-breakout-analyst-eyes-a-trend-reversal-in-favor-of-small">Russell 2000 Poised For Major Technical Breakout: Analyst Eyes &#8216;A Trend Reversal In Favor Of Small Caps Outperforming&#8217; S&amp;P 500</a>
The Bears
&#8220;<a href="https://www.benzinga.com/general/biotech/24/10/41381861/moderna-hit-with-another-lawsuit-related-to-key-covid-19-vaccine-technology">Moderna Hit With Another Lawsuit Related To Key COVID-19 Vaccine Technology</a>,&#8221; by <a href="https://www.benzinga.com/author/vandana-singh">Vandana Singh</a>, reports that Northwestern University has sued Moderna Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) for allegedly using its lipid nanoparticle technology in COVID-19 vaccines like Spikevax without permission, seeking damages for patent infringement.
&#8220;<a href="https://www.benzinga.com/news/24/10/41385546/ftc-click-to-cancel-rule-makes-it-easy-to-end-subscriptions-what-it-means-for-netflix-planet-fitness">FTC &#8216;Click-To-Cancel&#8217; Rule Makes It Easy To End Subscriptions: What It Means For Netflix, Planet Fitness And More</a>,&#8221; by <a href="https://www.benzinga.com/author/erica-kollmann">Erica Kollmann</a>, reports that the Federal Trade Commission&#8217;s new rule aims to simplify canceling subscriptions, impacting companies like Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) and Planet Fitness Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLNT#NYSE">PLNT</a>) by requiring them to make a cancellation as easy as signing up.
&#8220;<a href="https://www.benzinga.com/news/24/10/41393244/tesla-has-a-new-chinese-electric-vehicle-competitor-how-a-company-that-used-to-sell-cheap-tvs-is-ent">Tesla Has A New Chinese Electric Vehicle Competitor: How A Company That Used To Sell Cheap TVs Is Entering EV Race</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, reports that Chinese company Skywell, known for selling affordable Skyworth TVs, unveiled the Q hatchback EV at the Paris Auto Show, marking its entry into the EV space and potentially challenging Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) with competitively priced models.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/news/24/10/41354045/as-boeing-workers-enter-second-month-of-strike-rival-airbus-reportedly-plans-to-cut-2-500-jobs">As Boeing Workers Enter Second Month Of Strike, Rival Airbus Reportedly Plans To Cut 2,500 Jobs</a>
<a href="https://www.benzinga.com/news/24/10/41375934/meta-confirms-layoffs-across-instagram-whatsapp-and-reality-labs-amid-strategic-reshuffle">Meta Confirms Layoffs Across Instagram, WhatsApp And Reality Labs Amid Strategic Reshuffle</a>
<a href="https://www.benzinga.com/news/24/10/41375886/warren-buffetts-stock-sales-point-to-overvalued-market-says-hedge-fund-manager-david-einhorn-not-a-g">Warren Buffett&#8217;s Stock Sales Point To Overvalued Market, Says Hedge Fund Manager David Einhorn: &#8216;Not A Great Time To Have A Lot Of Equity Exposure&#8217;</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.
Image created using artificial intelligence via Midjourney.

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

Cryptocurrency

Equities

Long Ideas

News

Short Ideas

Trading Ideas

$DOGE

$PEPE

$SHIB

AAPL

GOOG

GOOGL

MRNA

NFLX

NICE

NTNX

OKLO

PLNT

SSNLF

TSLA

Benzinga Bulls And Bears: Apple, Tesla, Netflix, Oklo — And Dogecoin, Meme Coins Outpace Corporate Giants

The Federal Trade Commission (FTC) finalized a rule Wednesday aimed at simplifying <a href="https://www.benzinga.com/news/23/06/32982143/retailers-subscription-like-prime-and-walmart-under-scrutiny-ftc-to-review-alleged-malpractices">subscription cancellations. </a>
The Details: The <a href="https://www.ftc.gov/news-events/news/press-releases/2024/10/federal-trade-commission-announces-final-click-cancel-rule-making-it-easier-consumers-end-recurring">new rule</a> is called "click-to-cancel." It aims to protect consumers from businesses that make it difficult, or even impossible, to cancel subscriptions. 
"Too often, businesses make people jump through endless hoops just to cancel a subscription," said Commission Chair Lina M. Khan. "The FTC's rule will end these tricks and traps, saving Americans time and money. Nobody should be stuck paying for a service they no longer want."
The final rule is part of the FTC&#8217;s ongoing efforts to modernize the 1973 Negative Option Rule in order to combat unfair and deceptive practices related to subscriptions and memberships. The agency reported complaints regarding recurring subscription practices have been steadily increasing over the past five years and in 2024 the FTC received nearly 70 consumer complaints per day on average, up from 42 per day in 2021.
See Also: <a href="https://www.benzinga.com/news/24/10/41370426/pepsi-fights-back-against-shrinkflation-why-your-chip-bags-will-be-fuller-in-the-future">Pepsi Fights Back Against Shrinkflation: Why Your Chip Bags Will Be Fuller In The Future</a>
Why It Matters: The click-to-cancel rule will go into effect in about six months and could have major consequences for digital retailers including Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), online service providers like Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) and more traditional subscriptions like The New York Times Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYT#NYSE">NYT</a>). Under the new rule, companies will have to get consent for subscriptions, auto-renewals and free trials that convert to paid memberships and must "make it as easy for consumers to cancel their enrollment as it was to sign up."&nbsp;
The FTC has previously targeted Amazon's <a href="https://www.ftc.gov/news-events/news/press-releases/2023/06/ftc-takes-action-against-amazon-enrolling-consumers-amazon-prime-without-consent-sabotaging-their">business practices</a> which it claims includes enrolling consumers into its Prime subscription service without their expressed consent and then making it difficult for consumers to cancel the Prime subscriptions. The FTC has also scrutinized similar subscription services from other large retailers including Walmart, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) and Best Buy Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>).&nbsp;
Planet Fitness, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLNT#NYSE">PLNT</a>) has become well-known for its notoriously difficult-to-cancel gym memberships. The issue was highlighted in a <a href="https://x.com/linakhanftc/status/1479162568799395840">tweet</a> from FTC Chair Kahn and later featured in a Bear Cave <a href="https://www.benzinga.com/news/23/01/30486679/planet-fitness-an-illegal-billing-operation-with-gyms-on-the-side-short-seller">short-seller report</a> on the company.&nbsp;&nbsp;
"FTC has made clear that to comply with the law, businesses must ensure sign-ups are clear, consensual and easy to cancel," Khan tweeted in reference to a complaint about Planet Fitness's cancellation process.&nbsp;
Read Also:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41379867/european-central-bank-lowers-interest-rates-again-first-back-to-back-cuts-in-13-years">European Central Bank Lowers Interest Rates Again, First Back-To-Back Cuts In 13 Years</a></li>
</ul>
Image:&nbsp;Markus Winkler from Pixabay

Regulations

Legal

General

AMZN

FTC 'Click-To-Cancel' Rule Makes It Easy To End Subscriptions: What It Means For Netflix, Planet Fitness And More

Stifel analyst Chris O'Cull maintains Planet Fitness (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLNT#NYSE">PLNT</a>) with a Hold and raises the price target from $70 to $75.

Price Target

Analyst Ratings

Stifel Maintains Hold on Planet Fitness, Raises Price Target to $75

Insurance, regional banks, fitness centers, utilities, hospitals and theme parks are among the sectors that could be negatively impacted when Hurricane Milton hits Florida Wednesday night or <a href="https://www.benzinga.com/news/24/10/41231817/hurricane-milton-dire-warning-if-you-choose-to-stay-youre-going-to-die-officials-encourage-writing-n">early </a><a href="https://www.benzinga.com/markets/equities/24/10/41209505/hurricane-milton-is-floridas-second-storm-in-two-weeks-how-disney-theme-parks-insurance-companie">Thursday </a><a href="https://www.benzinga.com/news/24/10/41231817/hurricane-milton-dire-warning-if-you-choose-to-stay-youre-going-to-die-officials-encourage-writing-n">morning.</a>
Here's a look at some of the sectors and stocks that investors should be watching with Hurricane Milton on the way.
Hurricane Milton Update: According <a href="https://www.nbcnews.com/news/weather/map-hurricane-milton-path-forecast-status-track-rcna174203">to </a>NBC News, <a href="https://www.benzinga.com/topic/hurricane-milton">Hurricane Milton was downgraded </a>to a Category 4 storm on Wednesday morning. The hurricane is expected to make landfall Wednesday night and could hit some of Florida&#8217;s most populous areas, including the Tampa Bay area.
Evacuation orders are in place for multiple Florida counties with government officials warning that failure to follow the orders could lead to casualties.
With evacuations taking place, Florida service stations are running out of gas, and there are concerns about charging electric vehicles on evacuation routes.
The constant changes in the storm's path could have a major effect on the damage and potential casualties. A landfall in the Tampa Bay area is seen as the worst-case scenario for the hurricane, as reported by <a href="https://www.cnn.com/weather/live-news/hurricane-milton-florida-10-09-24/index.html" target="_blank" rel="noopener">CNN</a>.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/10/41239644/hurricane-milton-evacuations-a-matter-of-life-and-death-biden-says-feds-bostic-says-storm-could-">Hurricane Milton Evacuations &#8216;A Matter Of Life And Death,&#8217; Biden Says: Fed&#8217;s Bostic Says Storm Could Have Significant Economic Impact Over Next 6 Months</a>
Regional Banks: DA Davidson analyst Gary Tenner looked at the regional banks that could be most impacted by Hurricane Milton in a new investor note.
"Based on experience, we would expect the banks in the market to be impacted in multiple ways in the post-hurricane period, including a potential deposit boost related to insurance settlements, elevated near term expenses and provision, with lending opportunities related to rebuilding efforts,&#8221; Tenner said.
The analyst said banks in the Tampa and St. Petersburg areas could see near-term increased expenses but could see "positive offsets over the longer term."
Based on market share in the region, Tenner highlights the following regional banks:
<ul>
<li>Regions Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RF#NYSE">RF</a>): Buy rating</li>
<li>Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>): Neutral rating</li>
<li>Synovus Financial Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNV#NYSE">SNV</a>): Buy rating</li>
<li>SouthState Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSB#NYSE">SSB</a>): Buy rating</li>
<li>Cadence Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CADE#NYSE">CADE</a>): Buy rating</li>
<li>Hancock Whitney Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HWC#NASDAQ">HWC</a>): Buy rating</li>
</ul>
Hospitals Impact: Hospital operators in the Florida region could be negatively impacted by Hurricane Milton and face IV shortages, RBC analyst Ben Hendrix said in a new investor note.
"Hospital operators traded slightly lower on Thursday, which we believe reflects at least in part weather-related concerns as Hurricane Milton moves toward Florida's west coast," Hendrix said.
The analyst said hospitals could see "some disruptions to facilities" in the coming days.
RBC highlights the following hospitals in the report:
<ul>
<li>Community Health Systems (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CYH#NYSE">CYH</a>): Outperform rating</li>
<li>HCA Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HCA#NYSE">HCA</a>): Outperform rating</li>
<li>Tenet Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>): Outperform rating</li>
<li>Universal Health Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UHS#NYSE">UHS</a>): Sector Perform rating</li>
</ul>
"We believe HCA may be spared the worst of the storm damage with most of its hospital concentration in Central Florida located in the Tampa Bay area, which is north of the expected Sarasota landfall," Hendrix said.
Utilities Impact: Hurricane Milton could have a negative impact on utility stocks, Scotiabank analyst Andrew Weisel warned investors in a new note.
"While we remain bullish on U.S. utility fundamentals and valuations, we're growing somewhat cautious about investor sentiment, which had finally started to turn positive after years of negativity or indifference," Weisel said.
The analyst said they generally caution against trading around storms like Hurricane Milton.
"Rising hurricane activity is no doubt worrisome."
Weisel said the utility sector has several catalysts like rate cuts and the 2024 election, aside from the hurricane impact.
Top utility picks from Weisel are CMS Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMS#NYSE">CMS</a>), WEC Energy Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WEC#NYSE">WEC</a>) and DTE Energy Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DTE#NYSE">DTE</a>). After these three top picks, the analyst highlights Southern Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>), NextEra Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>), Alliant Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LNT#NASDAQ">LNT</a>) and American Electric Power Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEP#NASDAQ">AEP</a>) as other favorable utility names. 
Weisel also said he would buy Duke Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>) because of its weakness ahead of Hurricane Milton.
"While outages often lead to lost revenues, slightly weighing on near-term earnings, the impacts are generally very modest," Weisel said.
Another major utility that could be impacted by Hurricane Milton is Tampa Electric, owned by Emera Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/EMRAF#OTC">EMRAF</a>). Serving the Tampa Bay area, Tampa Electric is particularly vulnerable to the storm&#8217;s effects.
Insurance Stocks: The insurance sector is one of the sectors most on watch for the damaging impact and cleanup aftermath from Hurricane Milton.
Insurance stocks like Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Progressive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>), Travelers Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) and Chubb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>) are among the large insurers that could be impacted.
RBC analyst Derald Goh, who covers European insurance stocks, shared a note on the potential damage from the hurricane.
"A potential $60bn industry loss from Hurricane Milton appears very manageable for a sector that is keen to demonstrate stronger earnings resiliency and should drive a re-rating," Goh said.
The $60 billion estimate comes as Hurricane Milton is expected to cause destruction similar to that caused by Hurricane Ian in 2022. Based on the estimated damage from that storm, the analyst considers this estimate the most reliable method for predicting the impact on insurance companies.
Goh said five hurricanes have made landfall in the U.S. this season, and the previous average forecast was 12.
Leisure Sector: Hurricane Milton could also impact theme parks, with the state of Florida home to Disney World, owned by The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>), and Universal Studios Orlando, owned by Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>).
Disney announced it is <a href="https://www.benzinga.com/markets/equities/24/10/41245886/disney-world-closes-early-as-hurricane-milton-approaches-florida-parks-brace-for-impact">closing Disney World parks early </a>on Wednesday and transportation services could remain limited, with a plan to re-open on Thursday. The storm may have scared away a large amount of tourists. Goldman Sachs recently said Disney could see a<a href="https://www.benzinga.com/general/entertainment/24/10/41229099/disney-faces-150m-200m-blow-from-hurricane-milton-attendance-set-to-drop-6-says-goldman-sac"> $150 million to $200 million</a> negative impact from Hurricane Milton.
Morgan Stanley analyst Megan Alexander sees Hurricane Milton having a negative impact on fitness centers Planet Fitness (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLNT#NYSE">PLNT</a>) and Life Time Group Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTH#NYSE">LTH</a>) and indoor golf facility company Topgolf Callaway Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MODG#NYSE">MODG</a>).
"Overall, PLNT appears to be the most exposed across our coverage particularly given the concentration of corporate locations in the state," Alexander said.
The analyst, who has an Overweight rating and a $84 price target on Planet Fitness, said Florida represents around 25% of corporate-owned locations. Store closures could negatively impact new membership additions, but Alexander added that the monthly membership fee revenue model could insulate the company from a negative impact.
The analyst sees Life Time Group, rated Equal Weight with a $21 price target, having a minimal impact with only five locations in Florida, which is less than 3% of total locations.
Alexander said Topgolf has nine locations in Florida, with five currently closed due to Hurricane Milton. The analyst, who has an Underweight rating and a $10 price target on the stock, said Topgolf will likely see a minimal impact unless locations have severe storm damage and have to be closed for an extended time period.  
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41231817/hurricane-milton-dire-warning-if-you-choose-to-stay-youre-going-to-die-officials-encourage-writing-n">Hurricane Milton Dire Warning: &#8216;If You Choose To Stay &#8230; You&#8217;re Going To Die,&#8217; Officials Encourage Writing Name On Arm In Permanent Marker For ID</a></li>
</ul>
Image of Hurricane Milton courtesy of NASA.

Analyst Color

Health Care

Reiteration

Markets

Insurance

CADE

CMCSA

EMRAF

FITB

MODG

Hurricane Milton Descends On Florida: Analysts Warn Of Impact On Disney, NextEra's Florida Power & Light, Regional Banks

<a href="https://www.justice.gov/opa/pr/justice-department-sues-la-fitness-disability-discrimination-its-gym-and-fitness-clubs">https://www.justice.gov/opa/pr/justice-department-sues-la-fitness-disability-discrimination-its-gym-and-fitness-clubs</a>
&nbsp;
The Justice Department today sued Fitness International LLC, also called LA Fitness, for discriminating against people with disabilities at its gym and fitness clubs. LA Fitness is the largest chain of owner-operated gym and fitness clubs in the United States, with nearly 700 locations across the country.
The <a href="https://www.justice.gov/crt/case-document/complaint-us-v-fitness-international-dba-la-fitness">lawsuit</a>, filed in the U.S. District Court for the Central District of California, alleges LA Fitness violated the Americans with Disabilities Act (ADA), which prohibits public accommodations, including gym and fitness clubs, from discriminating against people with disabilities. The ADA requires LA Fitness to give people with disabilities equal access to LA Fitness' services and facilities, remove architectural barriers to make its facilities accessible to people with disabilities and maintain accessible features. The ADA also prohibits LA Fitness from charging extra fees to people with disabilities.
Yet, as the department's lawsuit alleges, LA Fitness gym and fitness clubs have many barriers that prevent LA Fitness members with disabilities from accessing the clubs or using the clubs' pools and fitness equipment. Common barriers include broken pool lifts and broken elevators.&nbsp; Sometimes, these issues left people with mobility disabilities unable to get into clubs or pools at all. Other times, people with disabilities have gotten stuck dangling over the water on broken pool lifts, have had to call LA Fitness staff to help them get in and out of pools or have had to crawl out of pools. Even after members with disabilities complained about these issues, LA Fitness did not fix them for long periods of time.
"Access to physical fitness activity is crucial for promoting the health and well-being of all Americans, including those with disabilities," said Assistant Attorney General Kristen Clarke of the Justice Department's Civil Rights Division. "For over 30 years, the ADA has prohibited gyms and fitness clubs like LA Fitness from denying patrons with disabilities the opportunity to use and enjoy facilities enjoyed by patrons without disabilities. Through this lawsuit, the Justice Department seeks to eliminate LA Fitness's discriminatory barriers and ensure that people with disabilities have equal access to fully participate at their local LA Fitness gym and fitness clubs."
"Ensuring accessibility is key to safeguarding civil rights for all Americans," said U.S. Attorney Martin Estrada for the Central District of California. "Our office is committed to ensuring that people with disabilities have access to public accommodations by enforcing the protections afforded by the Americans with Disabilities Act. When we support those with disabilities, our entire community benefits."
Through the lawsuit, the department asks the court to stop LA Fitness from discriminating against people with disabilities, including by requiring LA Fitness to make its facilities and equipment accessible. The department also seeks monetary damages for people harmed by LA Fitness' discrimination. This includes people who were directly harmed by LA Fitness' barriers to access and broken equipment, as well people who need help to use LA Fitness' clubs and were charged extra fees to have a friend, nurse or personal assistant help them use LA Fitness facilities.

Reported Earlier, Justice Department Sues LA Fitness For Disability Discrimination At Its Gym And Fitness Clubs

Deutsche Bank analyst Chris Woronka initiates coverage on Planet Fitness (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLNT#NYSE">PLNT</a>) with a Hold rating and announces Price Target of $71.

Initiation

Deutsche Bank Initiates Coverage On Planet Fitness with Hold Rating, Announces Price Target of $71

Fund manager Matthew Tuttle made waves in the ETF space for his unique funds that offer ways for investors to get leveraged exposure or <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36500461/exclusive-the-man-who-shorts-cathie-wood-and-jim-cramer-filed-for-new-bitcoin-etfs-why-lev">bet against well-known financial figures</a> like Jim Cramer and Cathie Wood.
Tuttle is back with a new fund that gives investors a way to invest in companies that are not meeting ESG (environmental, social, and governance) requirements.
What Happened: Tuttle Capital Management launched the ETF Opportunities Trust Tuttle Capital Shareholders First Index ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ESGX#BATS">ESGX</a>), a new ETF that gives investors<a href="https://www.benzinga.com/markets/esg/23/09/34288808/want-to-bet-against-woke-companies-theres-an-etf-for-that"> a way to invest </a>in companies that "focus on profits, not politics or trendy activisms of the moment."
"ESGX allows investors to choose a portfolio of companies that follow the comment sense notion that companies that focus on profits are better for investors than companies that don't," a press release for the fund reads.
The ETF follows the AJN Shareholders First Index, which tracks a portfolio of U.S. companies that meet the requirement of focusing on profits and ignoring politics and "trendy activisms of the moment."
"Too many companies today put ESG and DEI politics first and their shareholders' profits last," Tuttle Capital CEO Matthew Tuttle said. "ESG has become a way for liberal executives and large investors to enact social changes that they can't pass at the ballot box."
Tuttle said CEOs can be pressured to "cave to the trendy politics of the moment," and often times this is not in the best interest of shareholders.
"That's why we launched ESGX – to put shareholders and profits first."
Tuttle added that investors had limited options of ways to invest in companies that put profits ahead of politics before the ETF launched.
As of Sept. 9, the following were the top <a href="http://ShareholdersFirstETF.com">holdings </a>in the ESGX ETF:
<ul>
<li>MarketAxess Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MKTX#NASDAQ">MKTX</a>): 2.3% of assets</li>
<li>Evergy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVRG#NASDAQ">EVRG</a>): 2.2% of assets</li>
<li>J.B. Hunt Transport Services (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBHT#NASDAQ">JBHT</a>): 2.1% of assets</li>
<li>MDU Resources Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDU#NYSE">MDU</a>): 2.1% of assets</li>
<li>RLI Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RLI#NYSE">RLI</a>): 2.1% of assets</li>
</ul>
The ETF launch comes after companies like Anheuser-Busch InBev (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>), Planet Fitness (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLNT#NYSE">PLNT</a>), Target Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) and others have been <a href="https://www.benzinga.com/news/23/06/33083401/mark-cuban-vs-chamath-palihapitiya-billionaires-battle-over-go-woke-go-broke-mantra">accused by consumers</a> and investors of focusing too heavily on ESG and DEI policies and "going woke" instead of worrying about financial growth and returns for shareholders.
Read Also: <a href="https://www.benzinga.com/etfs/specialty-etfs/24/06/39299113/nancy-pelosi-among-best-of-the-best-in-stock-trading-new-congress-trading-etf-coming-from-cre">Nancy Pelosi Among &#8216;Best Of The Best&#8217; In Stock Trading: New Congress Trading ETF Coming From Creator Of Anti-Cathie Wood, Jim Cramer Funds</a>
Self Defense ETF Also Launches: Tuttle Capital also launched the Spinnaker ETF Series Tuttle Capital Self Defense Index ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/GUNZ#BATS">GUNZ</a>) Tuesday.
The fund invests in companies that are engaged in self-defense, with a belief that the United States is becoming less safe.
The ETF invests in companies that manufacture, service, supply and distribute personal and law enforcement defense equipment and protection services. The fund tracks the AJN Self Defense U.S. Equity Index.
"Americans feel less safe and feel there is more crime in the country now than last year. Many Americans are taking self defense into their own hands," Tuttle said.
Tuttle added that shares of gun manufacturers have also risen after the assassination attempt on former President Donald Trump.
"Gun sales have rebounded after nearly three years of continuous decline and firearms manufacturers world wide have seen their stock surge after the terrorist attack on Israel and the Trump assassination attempt."
As of Sept. 9, the following were the top <a href="https://www.gunzetf.com/">holdings </a>in the GUNZ ETF:
<ul>
<li>Palantir Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>): 8.9% of assets</li>
<li>Johnson Controls (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JCI#NYSE">JCI</a>): 6.9% of assets</li>
<li>AXON Enterprise (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXON#NASDAQ">AXON</a>): 6.9% of assets</li>
<li>Allegion PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLE#NYSE">ALLE</a>): 6.4% of assets</li>
<li>OSI Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OSIS#NASDAQ">OSIS</a>): 6.4% of assets</li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/m-a/24/03/37943780/exclusive-trump-media-company-goes-public-financial-experts-say-djt-a-meme-stock-this-is-going-to-be">EXCLUSIVE: Trump Media Company Goes Public, Financial Experts Say DJT A &#8216;Meme Stock&#8217; — &#8216;This Is Going To Be A Way To Bet On Or Against Trump&#8217;</a></li>
</ul>

Specialty ETFs

ETFs

ALLE

AXON

ETF Opportunities Trust Tuttle Capital Shareholders First Index ETF

ESGX

EVRG

GUNZ

JBHT

MKTX

OSIS

PLTR

Fund Manager Who Bet Against Jim Cramer And Cathie Wood Has New Anti-Woke ETF: 'Puts Profits Ahead Of Politics, DEI & ESG'

B of A Securities analyst Rafe Jadrosich maintains Planet Fitness (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLNT#NYSE">PLNT</a>) with a Buy and raises the price target from $95 to $100.

B of A Securities Maintains Buy on Planet Fitness, Raises Price Target to $100

Baird analyst Jonathan Komp maintains Planet Fitness (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLNT#NYSE">PLNT</a>) with a Outperform and maintains $92 price target.

Baird Maintains Outperform on Planet Fitness, Maintains $92 Price Target

Choice Hotels International, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/chh#NYSE">CHH</a>) delivered lower-than-expected second-quarter 2024 results, with adjusted earnings and revenues missing the Zacks Consensus Estimate. However, both metrics increased on a year-over-year basis.
The quarter&#39;s performance was backed by strong demand trends across the company&#39;s diversified portfolio of brands. This uptrend in demand aided in accelerating global hotel openings, expanding international market reach and increasing the size of its rewards program. Moreover, CHH&#39;s versatile business model and accretive growth strategies ensure the support required to foster its growth trends.
Going forward, the company believes that it is well-positioned to deliver bottom-line growth as well as maintain shareholder value on the back of the aforementioned business strategies against the improving demand backdrop.
<h3>Q2 Earnings and Revenues</h3>
Choice Hotels reported adjusted earnings per share of $1.84, which missed the Zacks Consensus Estimate of $1.87 by 1.6%. It reported adjusted EPS of $1.75 in the prior-year quarter.
<div class="chart_embed">
<h3>Choice Hotels International, Inc. Price, Consensus and EPS Surprise</h3>
<img alt="Choice Hotels International, Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/9d/1723209728.png" style="height:265px; width:584px" title="" />
Choice Hotels International, Inc. price-consensus-eps-surprise-chart | Choice Hotels International, Inc. Quote
Quarterly revenues of $435.2 million also missed the consensus mark of $441 million by 1.4%. On the other hand, the metric grew 2% from the year-ago quarter&#39;s level of $427.4 million.
</div>
<h3>Franchising &amp; Royalties</h3>
Royalty, licensing and management fees inched up 1% year over year to $141.8 million. During the three months ended Jun 30, domestic revenue per available room (RevPAR) experienced an increase of 540 basis points (bps) sequentially but declined 50 bps year over year. In comparison with the same period in 2019, the metric remained high at 11%.
System-wide effective royalty rate increased 5 bps year over year to 5.04%.
<h3>Operating Results</h3>
Total operating expenses declined marginally 0.2% year over year to $302.5 million. Our estimate for the metric was $298.4 million.
Adjusted EBITDA was $161.7 million, up 6% year over year. We expected the metric to be $170.3 million.
<h3>Balance Sheet</h3>
As of Jun 30, 2024, Choice Hotels had cash and cash equivalents of $60.4 million compared with $26.8 million as of Dec 31, 2023.
Long-term debt at the end of the second quarter was $1.87 billion compared with $1.07 billion reported in 2023-end.
<h3>2024 Outlook Updated</h3>
Choice Hotels now anticipates adjusted net income to be in the range of $309.5-$321.5 million compared with the prior estimate of $306-$320 million. Adjusted EBITDA is still expected to be between $580 million and $600 million.
Adjusted EPS is now expected to be in the range of $6.40-$6.65, up from the prior projection of $6.30-$6.60.
Domestic RevPAR year-over-year growth is now estimated to be in the range of -3.5% to -1.5% compared with the prior expected range of flat to up 2%. The domestic effective royalty rate is still forecasted to increase in mid-single digits from the year-earlier level.
<h3>Zacks Rank &amp; Recent Consumer Discretionary Releases</h3>
Choice Hotels currently has a Zacks Rank #2 (Buy).
Planet Fitness, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/plnt#NYSE">PLNT</a>) reported stellar second-quarter 2024 results, with adjusted earnings and revenues beating the Zacks Consensus Estimate and increasing year over year.
The quarter&#39;s performance was driven by contributions from new store openings, higher royalty revenues and an asset-light growth model. The strength in the contributions from these factors was reflected in the year-over-year increase in system-wide same-store sales. PLNT aims to define its growth prospects by capitalizing on meaningful opportunities across the industry, globally. Also, its aim to deliver enhanced shareholder value bodes well.
Wynn Resorts, Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wynn#NASDAQ">WYNN</a>) reported lower-than-expected second-quarter 2024 results, wherein adjusted earnings and revenues missed the Zacks Consensus Estimate. On the other hand, both metrics rose year over year.
The quarter&#39;s results reflect strong contributions from the Wynn Palace, Wynn Macau and Las Vegas operations, partially offset by softer contributions from the Encore Boston Harbor operations. The company&#39;s continuous investments in expanding the business operations on a global scale along with ensuring shareholder value are commendable. This prudent attitude positions WYNN well for growth in 2024 and beyond.
Hyatt Hotels Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/h#NYSE">H</a>) delivered second-quarter 2024 results, wherein earnings beat the Zacks Consensus Estimate but revenues missed the same. The company&#39;s top line declined year over year.
The timing of Easter, renovations at major resort properties and the lingering impact of the 2023 Maui wildfires affected the company&#39;s performance. As of Jun 30, 2024, Hyatt had a pipeline of executed management or franchise contracts of approximately 670 hotels (or about 130,000 rooms). Management anticipates 2024 system-wide RevPAR to rise 3-4% from the 2023 level, down from the prior estimated range of 3-5%.
<a href="https://www.zacks.com/stock/news/2320242/choice-hotels-chh-q2-earnings-revenues-lag-up-y-y?cid=CS-BENZ-FT-analyst_blog|earnings_article-2320242">To read this article on Zacks.com click here.</a>

Earnings

Earnings Misses

Mid Cap

WYNN

Choice Hotels Q2 Earnings & Revenues Lag, Up Y/Y

JP Morgan analyst Rahul Krotthapalli maintains Planet Fitness (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLNT#NYSE">PLNT</a>) with a Overweight and raises the price target from $78 to $80.

JP Morgan Maintains Overweight on Planet Fitness, Raises Price Target to $80

RBC Capital analyst Logan Reich maintains Planet Fitness (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLNT#NYSE">PLNT</a>) with a Outperform and raises the price target from $77 to $87.

RBC Capital Maintains Outperform on Planet Fitness, Raises Price Target to $87

Roth MKM analyst George Kelly maintains Planet Fitness (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLNT#NYSE">PLNT</a>) with a Buy and raises the price target from $73 to $88.

Roth MKM Maintains Buy on Planet Fitness, Raises Price Target to $88

Baird analyst Jonathan Komp maintains Planet Fitness (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLNT#NYSE">PLNT</a>) with a Outperform and raises the price target from $88 to $92.

Baird Maintains Outperform on Planet Fitness, Raises Price Target to $92

BMO Capital analyst Simeon Siegel reiterates Planet Fitness (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLNT#NYSE">PLNT</a>) with a Outperform and raises the price target from $80 to $87.

BMO Capital Reiterates Outperform on Planet Fitness, Raises Price Target to $87

Despite the recent market turmoil, Jim Cramer has offered a reassuring perspective, suggesting that the current corporate earnings do <a href="https://www.benzinga.com/news/24/08/40177780/i-do-not-think-the-us-economy-is-in-recession-sahm-rule-creator-refutes-claims-amid-market-turmoil">not indicate an impending recession</a>.
What Happened: CNBC host Cramer shared his insights on the corporate earnings reports, indicating that they do not signal a serious recession. He emphasized that the microdata from individual companies&#8217; reports does not support the notion of an imminent recession, <a href="https://www.cnbc.com/2024/08/06/cramer-says-tuesdays-earnings-dont-indicate-a-serious-recession.html">reported</a> CNBC on Tuesday.
"I think we're in a recessionless recession because I follow the actual micro data from individual companies that report," Cramer said. "When you run down the companies that reported in the last 24 hours, it's very hard to make the case that we're headed for a serious recession from here."
He highlighted the strong performance of companies such as Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>) and Builders FirstSource, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLDR#NYSE">BLDR</a>), which exceeded expectations. Cramer also pointed out the encouraging results from consumer discretionary companies like Uber Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>), Molson Coors Beverage Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>), Planet Fitness Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLNT#NYSE">PLNT</a>), and Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>).
&#8220;There was just great quarter after great quarter after great quarter this morning. They just can&#8217;t be seen by those who refuse to do the homework and only listen to central bankers,&#8221; Cramer said.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40154562/fed-may-be-bullied-into-50-bps-cut-in-september-says-mohamed-el-erian-as-global-mar?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Fed May Be &#8216;Bullied&#8217; Into 50 BPS Cut In September, Says Mohamed El-Erian, As Global Markets Melt Down</a>
Why It Matters: Cramer&#8217;s comments come amid a period of economic uncertainty and market volatility. Despite the fears of a recession, several experts have expressed a contrary view. 
For instance, economist Claudia Sahm, who developed the Sahm Rule, has stated that she <a href="https://www.benzinga.com/news/24/08/40177780/i-do-not-think-the-us-economy-is-in-recession-sahm-rule-creator-refutes-claims-amid-market-turmoil">does not believe the U.S. economy is in a recession</a>. 
Similarly, veteran Wall Street investor Ed Yardeni has <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40170709/veteran-wall-street-analyst-counters-recession-fears-we-dont-expect-a-hard-landing-">challenged the recession fears</a>, asserting that he does not expect a hard landing.
Despite the ongoing debate, the market has been experiencing significant fluctuations. The possibility of an emergency rate cut by the Federal Reserve was even speculated <a href="https://www.benzinga.com/economics/macro-economic-events/24/08/40203305/should-fed-make-an-emergency-cut-before-september-meeting-no-not-even-close-analy">after recent shockwaves</a> in the interest rate markets. However, the implied probability of a Fed emergency rate cut in 2024 dropped sharply to 14% by Tuesday.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/government/24/08/40164105/potential-iranian-attack-on-israel-could-rattle-markets-what-happened-to-stocks-when-russia-invaded?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Potential Iranian Attack On Israel Could Rattle Markets: What Happened To Stocks When Russia Invaded Invaded Ukraine?</a></li>
</ul>
Image Via Shutterstock 
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/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Economics

BLDR

UBER

Jim Cramer Says 'We're In A Recessionless Recession,' Points To Uber And Other Strong Corporate Earnings As Reassuring Sign

U.S. stocks were higher, with the Dow Jones index gaining over 300 points on Tuesday.
Shares of Yum China Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>) rose sharply during Tuesday's session after the company reported better-than-expected second-quarter earnings and <a href="https://www.benzinga.com/news/earnings/24/08/40181443/restaurant-company-yum-china-posts-mixed-q2-results-announces-cfo-change">announced a CFO transition.</a>
Core operating profit grew 12% Y/Y to $275 million, with a margin of 10.0% vs. 9.3% a year ago quarter. EPS of 55 cents surpassed the street view of 47 cents.
Yum China shares surged 11.6% to $33.26 on Tuesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Lumen Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUMN#NYSE">LUMN</a>) shares surged 90% to $4.92 after the company announced it secured $5 billion in new business from companies seeking to secure their fiber capacity.</li>
<li>Clear Secure, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YOU#NYSE">YOU</a>) gained 26.4% to $24.61 after the company reported better-than-expected second-quarter financial results and issued third-quarter revenue guidance above estimates.</li>
<li>Serve Robotics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SERV#NASDAQ">SERV</a>) climbed 24.9% to $17.01 after falling around 7% on Monday.</li>
<li>TG Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TGTX#NASDAQ">TGTX</a>) gained 21.2% to $20.85  after the company reported better-than-expected quarterly financial results and raised its FY24 Briumvi U.S. net product revenue. The company entered into a term loan facility with Blue Owl Capital.</li>
<li>Castle Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSTL#NASDAQ">CSTL</a>) rose 17.8% to $25.76 after the company reported better-than-expected second-quarter financial results and increased its FY24 revenue guidance above estimates.</li>
<li>Bioventus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BVS#NASDAQ">BVS</a>) jumped 18.5% to $7.42 after the company reported better-than-expected second-quarter financial results and raised its FY24 guidance above estimates.</li>
<li>Vimeo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VMEO#NASDAQ">VMEO</a>) gained 17.2% to $4.18 after the company reported better-than-expected quarterly financial results and raised its FY24 revenue guidance.</li>
<li>Cabot Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBT#NYSE">CBT</a>) rose 15.2% to $100.21 following upbeat quarterly results.</li>
<li>Kenvue Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KVUE#NYSE">KVUE</a>) climbed 13.7% to $20.69 after the company reported better-than-expected quarterly financial results.</li>
<li>Vornado Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>) gained 13.2% to $30.85 following better-than-expected quarterly earnings.</li>
<li>New Oriental Education &amp; Technology Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDU#NYSE">EDU</a>) gained 11.6% to $72.87  after the company upsized its share repurchase program.</li>
<li>BellRing Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRBR#NYSE">BRBR</a>) gained 11.2% to $54.85 following upbeat quarterly earnings.</li>
<li>TransMedics Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMDX#NASDAQ">TMDX</a>) gained 9.3% to $162.20.</li>
<li>BioMarin Pharmaceutical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMRN#NASDAQ">BMRN</a>) rose 9.3% to $87.99 after the company reported better-than-expected quarterly financial results. Also, Evercore ISI Group maintained an Outperform rating on the stock and raised its price target from $113 to $115.</li>
<li>Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>) rose 9.1% to $152.55. The company announced that it entered into exchange agreements with a limited number of noteholders of its 6% Convertible Senior Notes due 2025</li>
<li>Materion Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTRN#NYSE">MTRN</a>) gained 9% to $112.74 following strong quarterly earnings.</li>
<li>Planet Fitness, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLNT#NYSE">PLNT</a>) rose 9% to $78.53 after the company reported better-than-expected second-quarter financial results and reiterated 2024 outlook.</li>
<li>Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>) rose 6.7% to $54.58  after the company reported better-than-expected quarterly financial results.</li>
<li>Apollo Global Management, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) gained 5.9% to $105.02 after B of A Securities upgraded the stock from Neutral to Buy.</li>
</ul>
Now Read This:<a href="https://www.benzinga.com/news/24/08/40188563/this-crowdstrike-analyst-turns-bullish-here-are-top-5-upgrades-for-tuesday"> </a>
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40188563/this-crowdstrike-analyst-turns-bullish-here-are-top-5-upgrades-for-tuesday">This CrowdStrike Analyst Turns Bullish; Here Are Top 5 Upgrades For Tuesday</a></li>
</ul>

Intraday Update

Movers

BMRN

BRBR

CSTL

New Oriental Education & Technology Group

KVUE

LUMN

MTRN

SERV

TGTX

TMDX

VMEO

YUMC

Yum China Posts Upbeat Earnings, Joins Clear Secure, TG Therapeutics, Bioventus And Other Big Stocks Moving Higher On Tuesday

Planet Fitness, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLNT#NYSE">PLNT</a>) shares are trading higher after the company <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/n40182405/planet-fitness-inc-announces-second-quarter-2024-results" rel="noreferrer noopener">reported second-quarter results.</a>
The company reported adjusted earnings per share of 71 cents, <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beating the street view of 66 cents</a>.
Quarterly sales of $300.94 million (+5.1%) <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">beat the analyst consensus of $288.225 million.</a>
System-wide same-store sales increased 4.2%, while system-wide sales increased to&nbsp;$1.2 billion&nbsp;from&nbsp;$1.1 billion&nbsp;in the prior year period.
Franchise segment revenue rose 9.1% to $107.8 million, corporate-owned stores revenue increased 10.3% to $125.5 million, while equipment segment revenue fell 8.4% to $67.7 million from the prior year period.
Adjusted EBITDA increased 7.2% to&nbsp;$127.5 million&nbsp;from&nbsp;$118.9 million&nbsp;in the prior year period.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40155365/zelle-controversy-heats-up-jpmorgan-considers-legal-action" rel="noreferrer noopener">Zelle Controversy Heats Up: JPMorgan Considers Legal Action</a>
During the period, Planet Fitness opened 18 new stores—17 franchisee-owned and 1 corporate-owned—bringing the total number of system-wide locations to 2,617 as of June-end.
As of quarter-end, the company held $447.7 million in cash and marketable securities, including $247.0 million in cash and cash equivalents, $47.8 million in restricted cash, and $152.9 million in marketable securities.
Outlook, reiterated: For the year ending December 31, 2024, the company is maintaining its expectations for 120 to 130 new equipment placements in franchisee-owned locations and 140 to 150 new store openings.
Growth projections include a 3% to 5% increase in system-wide same-store sales and a 4% to 6% rise in revenue over 2023 results, representing $1.11 billion &#8211; $1.14 billion against the estimate of $1.132 billion.
Adjusted EPS is expected to increase by 7% to 9%, representing $2.40 &#8211; $2.44 against the consensus of $2.43.
Price Action: PLNT shares are trading higher by 11.1% to $80.00&nbsp;premarket at last check Tuesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40168743/boeing-poised-for-free-cash-flow-surge-post-2024-optimism-fueled-by-production-and-" target="_blank" rel="noreferrer noopener">Boeing Poised for Free Cash Flow Surge Post-2024, Optimism Fueled by Production and New CEO: Goldman Sachs</a></li>
</ul>

Guidance

Planet Fitness Power Play: Shares Jump After Q2 Beat, New Stores & Solid Outlook

WIIM

Planet Fitness shares are trading higher after the company reported better-than-expected Q2 financial results and reiterated 2024 outlook.

2024 Outlook
&nbsp;
For the year ending December 31, 2024, the Company is reiterating the following expectations:
<ul>
<li>New equipment placements of approximately 120 to 130 in franchisee-owned locations</li>
<li>System-wide new store openings of approximately 140 to 150 locations</li>
</ul>
The Company is also reiterating the following growth expectations over its 2023&nbsp;results:
<ul>
<li>System-wide same store sales in the 3% to 5% percentage range</li>
<li>Revenue to increase in the 4% to 6% range</li>
<li>Adjusted EBITDA to increase in the 7% to 9% range</li>
<li>Adjusted net income to increase in the 4% to 6% range</li>
<li>Adjusted net income per share, diluted to increase in the 7% to 9% range, based on adjusted diluted weighted-average shares outstanding of approximately 86.5 million, inclusive of the shares expected to be repurchased as part of the ASR Agreement.</li>
</ul>

Planet Fitness Reiterates FY2024 Outlook: Adj EPS Of $2.40-$2.44 vs $2.43 Est; Sales Of $1.11B-$1.14B vs $1.13B Est

Baron Small Cap Fund Q2 2024 Shareholder Letter

Planet Fitness: Visible Catalysts, But I Am Still Waiting For Growth To Accelerate

Analyst Jonathan Komp from Robert W. Baird maintained a Buy rating on Planet Fitness (PLNT – Research Report) and keeping the price target at $92.0...

Planet Fitness: Poised for Premium Valuation Amidst Economic Tailwinds and Strategic Growth Initiatives

Planet Fitness: Recommending A Hold Despite Tailwinds

Planet Fitness sees success with its high school pass program

Basic-Fit: Hidden Cash Machine

Smart Fit: A Small-Cap Gym Poised For Long-Term Growth In Emerging Markets

Analysts highlight Hurricane Milton's potential impact on leisure companies, airlines

Vulcan Value Partners Q3 2024 Letter

Stifel Nicolaus analyst Chris O`Cull maintained a Hold rating on Planet Fitness (PLNT – Research Report) today and set a price target of $75.00. Th...

Stifel Nicolaus Reaffirms Their Hold Rating on Planet Fitness (PLNT)

ALGT

ASGN

BCAP

BROE

BSFFF

BWIN

CAKE

CBRE

CIGI

CWAN

DAVA

DKNG

DRVN

EWCZ

GDYN

GTLS

GWRE

IBJHF

IBTA

INSP

KNSL

LOAR

LVMHF

LVMUY

MRCY

PGPHF

SAVE

SBUX

SFEGY

ULCC

Press Releases

Planet Fitness, Inc. Announces First Quarter 2024 Results

Planet Fitness' High School Summer Pass™ Returns; Teens Work Out Free June 1 – August 31

Planet Fitness, Inc. Announces Proposed Refinancing Transaction

Planet Fitness Prices $800 Million Securitized Financing Facility

Planet Fitness, Inc. Completes Refinancing Transaction

Planet Fitness, Inc. Announces $280 Million Accelerated Share Repurchase Program

PLANET FITNESS, INC. TO REPORT SECOND QUARTER 2024 RESULTS ON AUGUST 6, 2024

Planet Fitness, Inc. Announces Second Quarter 2024 Results

Hanley Investment Group Arranges Sale of 145,588 SF Junior Box-Anchored Retail Center in Harrison, Arkansas

Planet Fitness Inspires Nearly 3 Million High School Students to Prioritize Their Health with Annual High School Summer Pass™ Program

Comments

Planet Fitness

Actualités

Dernières nouvelles pour Planet Fitness (NYSE:PLNT) Stock

Les gens regardent aussi

Notizie

PARTENAIRE / CONTRIBUTEUR

BENZINGA MONDIAL