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10x Genomics

10x Genomics Inc is a life science technology company based in the United States. Its solutions include instruments, consumables, and software for analyzing biological systems. The product portfolio of the company includes Chromium Controller, Reagent Kits, 10x Compatible Products, and Informatics Software among others. The majority of its revenue is generated from consumables.

10x Genomics Inc

TEXAS GULF ENERGY INC by Texas Gulf Energy, Incorporated.

Texas Gulf Energy Inc

WIIM

KURA

Kura Oncology shares are trading lower. The company announced it entered into a global strategic collaboration with Kyowa Kirin to develop and commercialize ziftomenib.

From cost savings to ensuring consistent quality, the foundation of every successful investment begins with reliable seeds. Developing such genetics is no small feat; it takes decades, even generations, to achieve perfection. Few companies embody this legacy better than Dutch Passion Seeds, an Amsterdam-based pioneer founded in 1987.
With a track record of innovation, including introducing feminized seeds, Dutch Passion has built a reputation for producing traceable, stable genetics, under the highest standards.
"Everything starts with a seed," Francesco, global sales director of Dutch Passion Seeds told Benzinga Cannabis in an exclusive interview. "Without good genetics, there's no foundation for cultivation or scaling operations."
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can't afford to miss out if you&#8217;re serious about the business.</li>
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<h3 class="wp-block-heading">A Global Mission Rooted In Quality</h3>
Francesco emphasized Dutch Passion&#8217;s commitment to maintaining quality through centralized production in the Netherlands. &#8220;All our seeds are produced in-house, allowing us to control every aspect of the process.&#8221; This strategy ensures consistency and upholds their reputation, even as demand for seeds continues to rise globally.
The company's infrastructure includes expert breeders—some with decades of experience—who pass down their craft to the next generation. For example, the celebrated Orange Bud strain has been cultivated by the same breeder for over 35 years.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="768" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21094636/Dutch-Indoor-2-1024x768.jpg" alt="" class="wp-image-659010" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21094636/Dutch-Indoor-2-1024x768.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21094636/Dutch-Indoor-2-300x225.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21094636/Dutch-Indoor-2-768x576.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21094636/Dutch-Indoor-2.jpg 1440w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Courtesy of Dutch Passion Seeds. </figcaption></figure>
<h3 class="wp-block-heading">Lessons From Canada: A Mature Market's Impact On Cultivation And Sales</h3>
Canada, one of the first major countries to legalize recreational cannabis, has been both a significant opportunity and a learning curve for Dutch Passion. Before legalization, <a href="https://www.benzinga.com/topic/canada-cannabis">Canada</a> was a leading market for the company's seeds, driven by high demand from home growers. However, Francesco explained that legalization shifted consumer behavior, leading to a notable decline in home cultivation.
"When legal cannabis products became widely available, domestic cultivation dropped significantly," he said. This trend, Francesco noted, has been replicated in other countries following legalization, such as<a href="https://www.benzinga.com/topic/thailand-cannabis"> Thailand</a>. For Dutch Passion, the shift required adaptation, including launching branded <a href="https://www.benzinga.com/topic/pre-rolls">pre-rolls</a> and flowers in Canada.
Despite an initial sales peak, Francesco acknowledged that the Canadian market has become increasingly saturated, with competition and price pressures impacting profitability. &#8220;We saw strong demand for about two years post-legalization, but the market is now stabilizing at lower levels.&#8221;
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39609582/europe-is-turning-cash-flow-positive-well-see-what-happens-in-the-u-s-largest-canna">Europe Is Turning Cash Flow Positive, &#8216;We&#8217;ll See What Happens In The U.S.,&#8217; Says Curaleaf&#8217;s Boris Jordan</a>
<h3 class="wp-block-heading">Emerging Markets: Thailand And Germany</h3>
Thailand is quickly becoming a major cannabis seed market in Asia, and Dutch Passion is capitalizing on the opportunity. Building on a year of growing seed distribution and local partnerships, the company recently opened a compliant dispensary in Bangkok. Francesco called the move essential for navigating this dynamic market.
Meanwhile, Germany's impending recreational cannabis legalization represents a game-changing opportunity.
Dutch Passion plans to supply clones and eventually, branded flowers to German consumers. "The <a href="https://www.benzinga.com/topic/germany-cannabis">German market</a> will reshape Europe's cannabis landscape," Francesco said. Collaborating with local partners is integral to their strategy, as is leveraging their strong genetics portfolio to meet rising demand.
<h3 class="wp-block-heading">Chile And Argentina</h3>
Chile has served as Dutch Passion's gateway to Latin America, thanks to its progressive stance on cannabis seeds. "<a href="https://www.benzinga.com/markets/cannabis/23/05/32581583/new-law-against-drug-trafficking-allows-medical-cannabis-use-in-chile">Chile</a> legalized cannabis seeds, making it an ideal market for our entry," Francesco explained. The country's burgeoning growing shops and cultural acceptance of cannabis have positioned it as a regional leader.
Argentina, on the other hand, <a href="https://www.benzinga.com/markets/cannabis/24/10/41521064/controversy-over-medical-cannabis-exclusion-as-argentina-issues-new-hemp-regulation-experts-weig">offers untapped potential, but navigating its regulatory framework remains challenging</a>. Francesco praised the country&#8217;s medicinal cannabis laws, which allow patients to grow their plants. However, he noted that the Instituto Nacional de Semillas (INASE), <a href="https://www.benzinga.com/topic/argentina-cannabis">Argentina's regulatory body</a>, faces overwhelming demands with limited resources.
"INASE is under incredible pressure with over 850 registration requests, yet there is only one person dedicated to cannabis applications. It's an unsustainable workload," he said. Streamlining these processes could unlock Argentina's potential as a major player in cannabis genetics.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="768" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21094738/Dutch-Indoor-3-1024x768.jpg" alt="" class="wp-image-659013" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21094738/Dutch-Indoor-3-1024x768.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21094738/Dutch-Indoor-3-300x225.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21094738/Dutch-Indoor-3-768x576.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21094738/Dutch-Indoor-3.jpg 1440w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Courtesy of Dutch Passion Seeds. </figcaption></figure>
Read Also:<a href="https://www.benzinga.com/markets/cannabis/24/10/41467100/hemp-finally-gets-regulated-in-argentina-will-it-boom-like-the-countrys-many-other-ag-products"> Hemp Finally Gets Regulated In Argentina: Will It Boom Like The Country&#8217;s Many Other Ag Products?</a>
<h3 class="wp-block-heading">Challenges In Argentina's Import Market</h3>
Argentina's restrictive import framework and complex customs regulations pose significant barriers for global players like Dutch Passion. Francesco acknowledged that bureaucratic <a href="https://www.benzinga.com/markets/cannabis/24/09/40881984/more-than-3-billion-at-stake-how-regulatory-red-tape-is-holding-back-australias-cannabis-legaliz">red tape</a> and inconsistent import policies make it difficult for international companies to establish a foothold in the country.
However, he highlighted the potential for collaboration. "We've seen legalization processes in many countries and can offer our expertise to Argentine authorities to build a system that benefits everyone—from growers to regulators."
<h3 class="wp-block-heading">Balancing Costs And Innovation</h3>
Operating in the Netherlands comes with higher production costs due to labor and energy expenses. Despite this, Francesco emphasized that Dutch Passion remains competitive by offering a diverse catalog with price points ranging from affordable staples to premium, limited-edition <a href="https://www.benzinga.com/markets/cannabis/24/06/39486937/is-old-school-better-how-nostalgia-cannabis-vintage-strains-are-reshaping-cannabis-markets">genetics</a>. "Our pricing reflects the quality and innovation behind each strain," he said.
This approach also allows them to cater to both small-scale growers and larger cultivators in need of bulk seeds. For the latter, Dutch Passion provides wholesale packages of up to 100 seeds per order, ensuring accessibility for commercial operations without compromising quality.
Read Also:<a href="https://www.benzinga.com/markets/cannabis/24/11/41997646/tilray-joins-german-cannabis-fiesta-with-first-locally-grown-strains"> Tilray Joins German Cannabis Fiesta With First Locally Grown Strains</a>
<h3 class="wp-block-heading">Looking Forward</h3>
Dutch Passion Seeds continues to invest in innovation, such as developing sterile genetics resistant to <a href="https://www.benzinga.com/markets/cannabis/24/09/40972472/x-rays-microwaves-and-now-what-this-company-freezes-weed-at-320-f-to-kill-mold-and-save-a-ton">pests and mold</a>, which could revolutionize cannabis cultivation.
Francesco emphasized the importance of adaptability in an industry shaped by shifting regulations and consumer preferences.
"Our future lies in creating strains that maximize terpenes and cannabinoids while improving resistance to environmental stresses," he said.
Read Next: <a href="https://www.benzinga.com/general/biotech/24/11/41997354/selling-weed-is-like-a-sneaker-drop-running-out-isnt-a-problem-for-this-company">Selling Weed Is Like A Sneaker Drop: Running Out Isn&#8217;t A Problem For This Company</a>

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Traceable, Reliable, Stable Seeds: Dutch Passion, The Cannabis Biotech You Didn't Know You Needed

Benchmark analyst Kurt Hallead reiterates Helmerich &amp; Payne (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HP#NYSE">HP</a>) with a Hold.

Reiteration

Analyst Ratings

Benchmark Reiterates Hold on Helmerich & Payne

Citigroup analyst Atif Malik maintains NVIDIA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) with a Buy and raises the price target from $170 to $175.

Price Target

NVDA

Citigroup Maintains Buy on NVIDIA, Raises Price Target to $175

Analysts published commentary on Palo Alto Networks Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>) after the company reported <a href="https://www.benzinga.com/news/earnings/24/11/42099690/palo-alto-networks-q1-earnings-revenue-beat-eps-beat-2-for-1-stock-split-multiyear-platformization-trend-for-security-ai">upbeat fiscal first-quarter results</a>.
<ul>
<li>Goldman Sachs <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/589dc33e43eaaa000122c59a/gabriela-borges">analyst Gabriela Borges</a> maintained a Buy rating, while reducing the price target from $425 to $421.</li>
<li>Needham <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/6539490f1c7d4600012d4bc4/matt-dezort">analyst Matt Dezort</a> reiterated a Buy rating, while raising the price target from $385 to $450.</li>
<li>JMP Securities <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/6298be750c34880001d668d9/trevor-walsh">analyst Trevor Walsh</a> reaffirmed a Market Outperform rating, while lifting the price target from $380 to $415.</li>
<li>Piper Sandler <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/590783e6290fa70001409b4a/rob-owens">analyst Rob Owens</a> maintained a Neutral rating, while raising the price target from $330 to $385.</li>
<li>KeyBanc Capital Markets <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/62eacb8a9bab060001dbd41a/eric-heath">analyst Eric Heath</a> reiterated an Overweight rating and price target of $435.</li>
<li>Cantor Fitzgerald <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58d11d3db85e93000188d7b9/jonathan-ruykhaver">analyst Jonathan Ruykhaver</a> reaffirmed an Overweight rating and price target of $445.</li>
<li>RBC Capital Markets <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5880b6f377f9dd00011b0ab2/matthew-hedberg">analyst Matthew Hedberg</a> maintained an Outperform rating and a price target of $450.RBC Capital Markets </li>
<li>Oppenheimer <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5937f6b185b07a0001ac364f/ittai-kidron">analyst Ittai Kidron</a> reiterated an Outperform Buy rating and price target of $450.</li>
<li>WestPark Capital <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5e301e08430dee0001c88c8d/joseph-feldman">analyst Paul Rodriguez</a> reaffirmed a Hold rating on the stock.</li>
</ul>
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
Goldman Sachs: Palo Alto reported its quarterly revenues 1% above the Street and earnings 6% higher. Management raised their fiscal 2025 guidance for NGS ARR (next-generation security annual recurring revenue) by 2%.
Gross margins came in 85 basis points (bps) short of estimates. Calculated billings declined by 14% year-on-year and came around 20% below the Street. "We believe there continues to be good runway for Palo Alto to transition customers to higher performance (and price) attached subscriptions," Borges said in a note.
Needham: ARR and revenues are up 40% year-on-year at $4.52 billion and up 14% at $2.14 billion, beating consensus by 3.5% and 1%, respectively. RPOs (remaining performance obligations) grew by 20% year-on-year to $12.6 billion and the company guided for an acceleration to 20%-21% in the second quarter, he added.
"Platformization progress continues to impress," with the company adding more than 70 customers in the quarter, which brings the total to 1,100, Dezort said. Palo Alto reiterated its target of reaching 2,500-3,000 platform customers and $15 billion in ARR by fiscal 2030.
JMP Securities: Non-GAAP earnings of $1.56 per share came in higher than consensus of $1.48 per share. The company guided non-GAAP earnings of $1.54-$1.56 per share for the fiscal second quarter, versus consensus of $1.55 per share.
Momentum in the company's SASE and XSIAM offerings is driving platformization, the analyst stated. These offerings "continue to be key growth drivers for the network security and security operations pillars of the business, respectively," Walsh said.
Piper Sandler: Palo Alto enjoyed an acceleration in RPO growth &#8220;given platformization momentum, with beats across other top- and bottom-line metrics," Owens said. Despite this, the company's full-year RPO expectations were in-line, which effectively lowers bookings expectations, "driving the disappointment on the quarter.&#8221;
"Platformization continued to gain traction, with over 70 new platformization deals in F&#8217;1Q, with a third coming from QRadar," the analyst wrote. The company's next-gen portfolio remains strong, he further stated.
KeyBanc Capital Markets: Palo Alto Networks performed better than other "many security peers" in the quarter, Heath said. While revenue, RPO, NGS ARR, and margins came in ahead of expectations, billings was "meaningfully" below, he added.
Investors may be concerned about the sequential decline in deferred revenues acting as a headwind to free cash flows. A move to annualized invoicing seems to be "already quickening sales cycles" and improving visibility into free cash flows in the medium term, the analyst stated. "We remain positive on security being a top area of spend in IT, customers continuing to consolidate security vendors, and we view Palo as a leader in several strategic markets, while still early in consolidating those adjacencies," he added.
Cantor Fitzgerald: Palo Alto started the new fiscal year "on the right foot," outperforming consensus on revenue, RPO, NGS ARR, and earnings, Ruykhaver said. The company raised its full-year guidance to reflect the "strong 1Q momentum and continued strength in the platformization approach," he added.
QRadar added 550 customers to the Cortex customer base and present "ample upsell opportunity to the XSIAM offering," the analyst wrote. Management values this pipeline at more than $1 billion, he further stated.
RBC Capital Markets: Billings declined by 13.5% to $1,752 million, coming in well below consensus of $2,192 million, Hedberg said. "We note again that PANW stopped guiding to billings last quarter given the noise the platformization strategy has introduced to the metric," he added.
Progress in platformization continued in the quarter and "the market is seeing a growing realization of the impact platformization can have," the analyst wrote. Although management raised the full-year guidance for NGS ARR, the extent was less than the first-quarter beat, he further stated.
Oppenheimer: Palo Alto generated strong results for the fiscal first quarter, beating estimates, driven by "sustained momentum on its platform push, broad product adoption, slight acceleration in RPO, and solid cost discipline," Kidron said. The company reported "standout" results for SASE, with 20% year-on-year growth in customers and over 40% growth in deals worth over $1M, and for Cortex, with 180% growth in over $1M XSIAM ARR customers, he added.
"Looking ahead, we see an attractive outlook, and believe easing firewall headwinds, an opportunity to leverage its SASE footprint to drive displacements in the upcoming firewall refresh cycle, and a &gt;$1.5B bookings opportunity with QRadar customers can deliver upside to the current outlook," the analyst further wrote.
WestPark Capital: Palo Alto Networks' revenue growth came in slightly above 14%, higher than the estimate of 12%-13%, Rodriguez said. The company's strong NGS ARR growth of 40% was helped by the inclusion of QRadar migrations, he added.
Management guided to revenues in the range of $2.22 billion to $2.25 billion for the fiscal second quarter and $9.12 billion to $9.17 billion for the full year, the analyst stated. Booking from QRadar to XSIAM transactions have already exceeded $80 million since the deal announcement in May, he further mentioned.
Price Action: Shares of Palo Alto Networkshad declined by 1.04% to $388.80 at the time of publication on Thursday.
Read More: 
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<li><a href="https://www.benzinga.com/content/42091037/3-hot-stock-trends-to-ride-into-2025">3 Hot Stock Trends to Ride Into 2025</a></li>
</ul>
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PANW

Palo Alto Networks Reports Upbeat Earnings, Analysts Impressed By Platform Acceleration

Deutsche Bank analyst Ross Seymore maintains NVIDIA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) with a Hold and raises the price target from $115 to $140.

Deutsche Bank Maintains Hold on NVIDIA, Raises Price Target to $140

Macro investor Jim Bianco, president of Bianco Research, has sparked a heated debate on Twitter about the potential long-term value of Bitcoin and its implications for <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41170398/bitcoin-gold-are-the-debasement-trade-in-uncertain-times-jpmorgan">the global economy.</a>
What Happened: Responding to the prediction of MicroStrategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) executive chairman Michael Saylor that Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) could hit $13 million by 2045, Bianco noted in a post on X on Thursday that this valuation would put Bitcoin&#8217;s market cap at around $250 trillion.
This would dwarf the current world GDP of $105 trillion and global stock markets valued at $125 trillion.
However, Bianco questions what $13 million would actually buy in 2045—perhaps only what $100,000 buys today. 
His answer was stark: &#8220;I&#8217;ll offer an answer: $13 million BTC, or adding $250 trillion to wealth, will create massive hyperinflation.&#8221;
The financial analyst argued that such a dramatic increase in Bitcoin&#8217;s value would likely coincide with &#8211; or result from &#8211; the collapse of fiat currencies. In this scenario, &#8220;$13 million in 2045 will only get you the same amount as $100k today, probably less (a used Honda),&#8221; Bianco stated.
While acknowledging that a $13 million Bitcoin price isn&#8217;t necessarily unrealistic, Bianco cautioned that the conditions leading to such a valuation would be far from ideal. &#8220;It is the destruction of all value as we currently know it. It is replaced by a new measure of account, BTC,&#8221; he explained.
Bianco also raised concerns about the societal implications of such a scenario. He pointed out that &#8220;60% of the US population owns no assets and cannot come up $1,000 in an emergency,&#8221; questioning what would happen to these individuals in a world of massive hyperinflation and sky-high Bitcoin prices.
Echoing Robert Kiyosaki's thoughts, Bianco concluded "This is not something to look forward to." Kiyosaki in his recent tweet <a href="https://x.com/theRealKiyosaki/status/1859058685403881798">advised</a> to buy Bitcoin today as with "$9,000 today…. you buy .01 Bitcoin today…you are a millionaire tomorrow."
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42109267/bitcoin-hits-new-all-time-high-above-98000-as-spot-etfs-crack-100-billion-net-asset-value-milestone">Bitcoin Hits New All-Time High Above $98,000 As Spot ETFs Crack $100 Billion Net Asset Value Milestone</a>
Why It Matters: Bianco isn't alone in his skepticism. Economists Erzo G.J. Luttmer and Amol Amol share a similar sentiment, describing Bitcoin as a <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41575813/is-bitcoin-a-dangerous-economic-threat-minneapolis-fed-researchers-propose-heavy-taxation-">disruptive force to government fiscal policies</a>, likening it to &#8220;an unruly guest at a carefully planned dinner.&#8221;
Peter Schiff, a long-time Bitcoin critic, also warns against such scenarios. He argues that if the U.S. were to hold Bitcoin reserves, it could trigger hyperinflation by forcing the <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41886523/peter-schiff-us-bitcoin-reserve-could-destroy-dollar-predicts-its-highly-unlikely-to-happen">government to print more dollars</a>, devastating both Bitcoin and the dollar's value.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42071904/blackrock-sees-renewed-sense-of-optimism-around-bitcoin">BlackRock Sees &#8216;Renewed Sense Of Optimism&#8217; Around Bitcoin</a></li>
</ul>
Image: Shutterstock

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

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$BTC

MSTR

Michael Saylor Predicted Bitcoin To Hit $13 Million — If It Happens, It Will Entail 'Massive Hyperinflation,' Analyst Warns

BDRX

Biodexa Pharmaceuticals Shares Halted To The Upside; Stock Now Up 48.57%

B of A Securities analyst Ronald Epstein maintains Embraer (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ERJ#NYSE">ERJ</a>) with a Buy and raises the price target from $40 to $55.

Embraer-Empresa Brasileira De Aeronautica

B of A Securities Maintains Buy on Embraer, Raises Price Target to $55

Citigroup analyst Alicia Yap maintains Full Truck Alliance Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YMM#NYSE">YMM</a>) with a Buy and raises the price target from $12 to $13.

Citigroup Maintains Buy on Full Truck Alliance Co, Raises Price Target to $13

B of A Securities analyst Vivek Arya reiterates NVIDIA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) with a Buy and maintains $190 price target.

B of A Securities Reiterates Buy on NVIDIA, Maintains $190 Price Target

Shares of Lowe&#8217;s Companies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) were trading higher Thursday after the company reported <a href="https://www.benzinga.com/news/earnings/24/11/42060077/lowes-q3-earnings-revenue-and-eps-beat-but-comp-sales-fall-amid-softness-in-bigger-ticket-diy-discretionary-demand">upbeat third-quarter results</a> on Tuesday.
The company reported its results amid an <a href="https://www.benzinga.com/earnings">exciting earnings season</a>. Here are some key analyst takeaways.
Goldman Sachs On Lowe&#8217;s Companies
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58580bcbee7bf60001bcfa29/kate-mcshane">Analyst Kate McShane</a> maintained a Buy rating, while raising the price target from $260 to $276.
Although Lowe's reported better-than-expected results for the third quarter, comparable sales contracted by 1.1%, McShane said in a note. While sales continued to be pressured by weaker DIY trends with consumers dealing with elevated interest rates, some of the headwinds were offset by "a stronger Pro business, online sales, and smaller-ticket outdoor DIY projects," she added.
Operating margin contracted by 86 basis points year-on year to 12.3%, coming in lower than consensus of 12.5%, "with the incremental storm impact having ~15bps negative impact," the analyst stated. "For 4Q, the company noted that excluding storm related impacts, operating margin will roughly be in line with prior year outlook reflecting benefits from ongoing PPI initiatives and incremental direct costs and lower gross margin profile," she further wrote.
Truist Securities On Lowe&#8217;s Companies
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/59493ca670ed7a0001097213/scot-ciccarelli">Analyst Scot Ciccarelli</a> reiterated a Buy rating, while lifting the price target from $307 to $310.
Storm-related activity boosted comps by around 100 basis points, "but was a drag on margins," Ciccarelli said. Even excluding the storms, sales were "modestly better than mgmt and investor expectations coming out of 2Q," he added.
Transactions declined by 1.3%, partially offset by an increase in average ticket size, the analyst stated. "Finally, Pro sales posted an impressive +HSD comp, offset by continued softness in bigger-ticket DIY discretionary demand," the analyst further wrote.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
DA Davidson On Lowe&#8217;s Companies
<a href="https://drupal-cloudfront.benzinga.com/topic/michael-baker">Analyst Michael Baker</a> reiterated Buy rating, while reducing the price target to $240.
Comps were down 1.1% in the third quarter, but beat consensus of a decline of 2.8% and represented an acceleration from the 5.1% decline in the previous quarter, Baker said. "Even excluding hurricane related sales, LOW would have beaten on the strength of a high-single digit positive comp in Pro, which is an acceleration from a mid-single digits increase last quarter," he added.
Relative to the industry data, Lowe's sales came in 300 basis points light, similar to the previous quarter's gap of 340 basis points, the analyst stated. Gross margins came in flat at 33.7%, short of consensus by 10 basis points, he added.
BofA Securities On Lowe&#8217;s Companies
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58ad8d48b85e930001f97170/robert-ohmes">Analyst Robert Ohmes</a> maintained a Buy rating and price target of $305.
Lowe&#8217;s reported adjusted earnings of $2.89 per share, "ahead of our $2.82 estimate driven by higher-than-expected comp sales," Ohmes said in a note. The decline in comps reflected "continued softness in DIY bigger-ticket discretionary demand projects, partially offset by storm-related sales positive comp sales in Pro &amp; online, and strength in smaller ticket outdoor DIY projects," he added.
Progress in Lowe's Total Home strategy will likely enable the company to "deliver on its commitment to grow its Pro business at 2x the market," the analyst stated. "We also expect DIY-focused strategic investments to support growth once the macro improves," he further wrote.
JPMorgan On Lowe&#8217;s Companies
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/584847d9ee7bf6000154d225/christopher-horvers">Analyst Christopher Horvers</a> reaffirmed an Overweight rating and price target of $300.
Lowe&#8217;s raised its guidance for 2024 to a decline in comps of 3%-3.5%, from its previous projection of 3.5%-4%, Horvers said. Management raised their projection for earnings to $11.80-11.90 per share, from the prior estimate of $11.70-11.90 per share, he added.
"We continue to see a small project DIY recovery emerging," the analyst wrote. Management remained conservative on the fourth-quarter outlook, "assuming a smaller lift from the storms" and continued to project flat gross margins, "with benefits from vendor clawbacks continuing to build/accelerate into 4Q," he further stated.
LOW Price Action: Shares of Lowe&#8217;s Companies were up 0.5% to $264.29 at the time of publication Thursday.
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Photo: Shutterstock

Lowe's Pro Sales Lead The Way As DIY Slows, Analysts Say

MicroStrategy shares are trading lower after Citron Research announced a short position.

TransMedics Gr's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMDX#NYSE">TMDX</a>) short percent of float has risen 29.68% since its last report. The company recently reported that it has 8.43 million shares sold short, which is 30.54% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.14 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>TransMedics Gr Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732203920_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for TransMedics Gr has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing TransMedics Gr's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, TransMedics Gr's peer group average for short interest as a percentage of float is 8.25%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

TMDX

Looking Into TransMedics Gr's Recent Short Interest

Citigroup analyst Judy Zhang maintains Qifu Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QFIN#NASDAQ">QFIN</a>) with a Buy and raises the price target from $31.44 to $37.5.

QFIN

Citigroup Maintains Buy on Qifu Technology, Raises Price Target to $37.5

Cencora's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COR#NYSE">COR</a>) short percent of float has risen 3.45% since its last report. The company recently reported that it has 9.96 million shares sold short, which is 6.89% of all regular shares that are available for trading. Based on its trading volume, it would take traders 9.26 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Cencora Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732203915_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Cencora has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Cencora's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Cencora's peer group average for short interest as a percentage of float is 5.37%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Looking Into Cencora's Recent Short Interest

When it was announced in 2017, the Tesla Semi was supposed to be a game-changer. With promises of a greener future for the trucking industry and orders from big-name companies like PepsiCo, UPS and Sysco, Tesla&#8217;s electric truck generated a lot of excitement. But now, seven years later, many customers are still waiting. And some might wait a decade before they see their trucks roll in.
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<h2 class="wp-block-heading">The Long Wait for the Tesla Semi</h2>
PepsiCo is seemingly the only company able to get its hands on Tesla Semis, but for most other customers, it's been nothing but waiting. UPS, Sysco, DHL and others have yet to receive any of their trucks, even though they placed their orders in 2017. UPS alone reserved 125 Semis, but there's still no timeline for when those deliveries will happen.
Tesla deployed<a href="https://www.benzinga.com/news/24/05/38936949/tesla-semi-fleet-grows-as-pepsico-takes-delivery-of-another-50-ev-trucks"> around 100 trucks in the U.S.</a>, mainly to PepsiCo, with these vehicles racking up almost five million miles. The company says production is getting closer, with mass manufacturing expected to kick off &#8220;by the end of 2025&#8221; at its Nevada Gigafactory. But that means that for many customers, the wait could stretch to nearly 10 years from when they placed their orders.
Trending: The global games market is projected to generate $272B by the end of the year —<a href="https://www.benzinga.com/money/gameflip"> for $0.55/share, this VC-backed startup with a 7M+ userbase gives investors easy access to this asset market.</a>
<h2 class="wp-block-heading">Challenges in Meeting Demand</h2>
Why the delays? Building a heavy-duty electric truck isn&#8217;t easy and Tesla has faced significant challenges – everything from production hurdles to fine-tuning the vehicle&#8217;s reliability. While Tesla&#8217;s Megawatt charging station aims to make recharging as fast as diesel refueling, <a href="https://www.benzinga.com/news/24/10/41566739/tesla-semi-charging-infrastructure-costs-can-undercut-competition-by-50-says-senior-company-executiv">building the needed infrastructure</a> takes time, especially when entering the notoriously tough Class 8 truck market.
Tesla&#8217;s competitors haven't been idle either. Chinese startup Windrose, for example, is making moves to set up an assembly plant in Georgia. According to the company, it hopes to compete directly with Tesla and already has 6,400 orders on the books – mainly from U.S. companies like Nike.&nbsp;
Windrose's electric semi has a range of 418 miles when fully loaded at 49 tons. By comparison, the Tesla Semi offers a range between 300 and 500 miles when loaded. Windrose recently completed a 1,600 km test in China and has started trials in Europe with Decathlon. They are determined to stake their claim, especially while Tesla struggles to get the Semi out to its long-waiting customers.
Tesla also <a href="https://www.benzinga.com/markets/equities/24/10/41349340/elon-musk-announces-tesla-semi-will-be-available-worldwide-amid-growing-skepticism-over-500-mile">plans to bring the Semi to Europe and even worldwide</a>, but it's not as simple as just shipping trucks overseas. The vehicle needs to comply with European regulations, which means design tweaks and new versions – like a shorter model to fit EU size requirements. Even then, European companies like Girteka, Fercam and others that placed orders nearly seven years ago are still waiting, with no clear end in sight.
See Also: This rooftop wind turbine is taking on a market projected to reach over $900 billion by 2032 —<a href="https://www.benzinga.com/money/halcium"> With already over 40,000 users signing up to purchase, here's a chance to be an early investor today!</a>
<h2 class="wp-block-heading">Is There Still Hope for Tesla Semi Customers?</h2>
The real question is whether Tesla can get production running at the scale needed to fulfill all these long-standing orders. Analysts remain skeptical, noting that Tesla will have to compete <a href="https://www.benzinga.com/news/24/09/40686320/volvo-reveals-next-gen-electric-heavy-duty-truck-with-up-to-600-km-range-on-a-single-charge">with heavyweights like Volvo</a>, <a href="https://www.benzinga.com/news/24/09/40872322/daimler-truck-to-start-production-of-battery-electric-heavy-truck-mercedes-benz-eactros-600-in-novem">Daimler</a> and Freightliner, who already have electric trucks in production. It's a tall order for Tesla to instantly grab a big share of the Class 8 market, especially considering the delays.
While it's been a rocky road, Tesla has a history of pulling off the improbable. Its past successes in passenger cars remind us that nothing is impossible, even if the timeline doesn't always go as planned.
Still, in October 2022, Elon Musk assured investors that Tesla would produce 50,000 Tesla Semi trucks by 2024 and that hasn't happened.
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Most Tesla Semi Customers Have Waited Seven Years Already. Will They Really Have To Wait A Full Decade?

ASML Holding's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NYSE">ASML</a>) short percent of float has risen 9.09% since its last report. The company recently reported that it has 1.27 million shares sold short, which is 0.36% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.0 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>ASML Holding Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732203910_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for ASML Holding has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing ASML Holding's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, ASML Holding's peer group average for short interest as a percentage of float is 8.01%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

ASML

(ASML) - Analyzing ASML Holding's Short Interest

-U.S. Official Tells Reuters, Citing Initial Indications

Macro Notification

General

Russia Fired An Intermediate-Range Ballistic Missile, Not An ICBM, At Ukraine On Thursday

RBC Capital analyst Kenneth Lee reiterates Rithm Capital (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RITM#NYSE">RITM</a>) with a Outperform and maintains $13 price target.

RITM

RBC Capital Reiterates Outperform on Rithm Capital, Maintains $13 Price Target

10x Genomics (TXG – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Puneet Souda from Le...

10x Genomics: Buy Rating Amid Short-term Disruptions and Long-term Growth Prospects

In a report released today, Michael Ryskin from Bank of America Securities maintained a Hold rating on 10x Genomics (TXG – Research Report). The co...

Bank of America Securities Sticks to Its Hold Rating for 10x Genomics (TXG)

Stifel Nicolaus analyst Daniel Arias maintained a Buy rating on 10x Genomics (TXG – Research Report) yesterday and set a price target of $21.00. Th...

Stifel Nicolaus Remains a Buy on 10x Genomics (TXG)

Analyst Tejas Savant of Morgan Stanley maintained a Buy rating on 10x Genomics (TXG – Research Report), reducing the price target to $30.00. Tejas ...

Buy Rating on 10x Genomics: Strategic Restructuring and Long-term Growth Prospects

10X Genomics (TXG) has disclosed a new risk, in the Environmental / Social category. In a noteworthy development for 10X Genomics, CEO Serge Saxono...

10X Genomics CEO Serge Saxonov Initiates Rule 10b5-1 Trading Plan Amid Strategic Financial Maneuvering

10x Genomics (TXG) and French TechBio startup Cure51 announced that Cure51 will deploy 10x Genomics' Visium HD as part of its pioneering work to un...

10x Genomics' Visium HD selected by TechBio startup Cure51

Analysts have been eager to weigh in on the Healthcare sector with new ratings on Bristol-Myers Squibb (BMY – Research Report), 10x Genomics (TXG –...

Analysts Offer Insights on Healthcare Companies: Bristol-Myers Squibb (BMY), 10x Genomics (TXG) and Bicycle Therapeutics (BCYC)

Barclays analyst Luke Sergott lowered the firm's price target on 10x Genomics (TXG) to $19 from $21 and keeps an Overweight rating on the shares. T...

10x Genomics price target lowered to $19 from $21 at Barclays

ARKK's holdings ranked by SA Quant Grades

Life sciences stocks viewed positively at TD Cowen despite post-election weakness

ACHR

ADPT

AMZN

ARKF

ARKG

ARKK

ARKQ

ARKW

ARKX

AVTR

BCYC

BEAM

BRKR

CERS

COIN

CRSP

DKNG

EXAS

HOOD

ILMN

MDXH

MYGN

NTLA

NTRA

PACB

PATH

PINS

PLTR

PRME

RBLX

ROKU

RVTY

RXRX

SHOP

SOFI

TSLA

TWST

VCYT

VERV

Press Releases

10x Genomics Announces Senior Leadership Changes

10x Genomics to Present at the Morgan Stanley 22nd Annual Global Healthcare Conference

10x Genomics Unveils Chromium Xo: A Low-Cost Instrument to Expand Access to High-Performance Single Cell Research

Lausanne Researchers Combine 10x Genomics' Chromium and Xenium for Novel Insights into Resistance and Potential Therapeutics for Brain Cancer

10x Genomics Announces Mega-Scale Single Cell Analysis for One Cent Per Cell at Human Cell Atlas General Meeting

Earnings

10x Genomics Announces Preliminary Select Third Quarter 2024 Results

10x Genomics Delivers 'Single Cell for a Single Cent' with New Chromium Launches

10x Genomics Reports Third Quarter 2024 Financial Results

TechBio Startup Cure51 Selects 10x Genomics Visium HD for New Drug Discovery Initiative

10x Genomics to Present at the Wolfe Research 2024 Healthcare Conference

Agilent Technologies

AbCellera Biologics

Avantor

Azenta

Bio-Rad Laboratories, Inc. Class A Common Stock

Bio-Rad Laboratories

BioLife Solns

Bruker

Charles River Laboratories International, Inc. Common Stock

Charles River

Cytek Biosciences

Danaher

Evotec SE - American Depositary Shares each representing 1/2 of one ordinary share

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