Dernières nouvelles pour Under Armour (NYSE:UAA) Stock

Under Armour

Under Armour develops, markets, and distributes athletic apparel, footwear, and accessories in North America, Asia-Pacific, Europe, and elsewhere. Consumers of its performance-based clothing and shoes include professional and amateur athletes, sponsored college and professional teams, and people with active lifestyles. The company sells merchandise through direct-to-consumer, including e-commerce and more than 400 combined factory house and brand house stores, and wholesale channels. Under Armour also operates a digital fitness app called MapMyFitness. The Baltimore-based company was founded in 1996 and is led by controlling shareholder Kevin Plank.

Under Armour Inc

Snowflake Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) shares are ripping higher Thursday after the company reported better-than-expected financial results for the third quarter and raised guidance. Several analysts raised price targets following the print. Here&#8217;s what <a href="https://www.benzinga.com/news/earnings/24/11/42099986/snowflake-q3-earnings-revenue-beat-eps-beat-guidance-raise-ai-acquisition-anthropic-partnership-and-more">you need to know</a>.
What To Know: Snowflake beat analyst estimates on the top and bottom lines in the third quarter, reporting revenue of $942.09 million versus estimates of $896.99 million, and adjusted earnings of 20 cents per share versus estimates of 15 cents per share, per <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Total revenue was up 28% year-over-year. Product revenue came in at $900.3 million, up 29% year-over-year. Net revenue retention rate was 127% in the quarter.&nbsp;Remaining performance obligations totaled $5.7 billion, up 55% year-over-year.
Snowflake guided for fourth-quarter product revenue in the range of $906 million to $911 million, and raised its full-year product revenue forecast from $3.356 billion to $3.43 billion, representing 29% year-over-year growth.
"Our obsessive drive to produce product cohesion and ease of use has built Snowflake into the easiest and most cost-effective enterprise data platform. That is what's leading us to win new logo after new logo, expand within our customer base, and displace our competition over and over again," said&nbsp;Sridhar Ramaswamy,&nbsp;CEO of Snowflake.
In connection with the earnings release, Snowflake said it signed a&nbsp;<a href="https://www.benzinga.com/pressreleases/24/11/b42099044/snowflake-agrees-to-acquire-open-data-integration-platform-datavolo" target="_blank" rel="noreferrer noopener">definitive agreement</a>&nbsp;to acquire enterprise AI company Datavolo and announced a <a href="https://www.benzinga.com/pressreleases/24/11/b42099092/snowflake-and-anthropic-team-up-to-bring-claude-models-directly-to-the-ai-data-cloud" target="_blank" rel="noreferrer noopener">strategic multi-year partnership</a>&nbsp;with Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)-backed AI data cloud company&nbsp;Anthropic. 
Analysts React: Several analysts raised price targets on Snowflake following the company&#8217;s quarterly results.
<ul>
<li>Piper Sandler analyst Brent Bracelin reiterated Snowflake with an <a href="https://www.benzinga.com/analyst-stock-ratings">Overweight</a> and raised the price target from&nbsp;$165&nbsp;to&nbsp;$185.</li>
</ul>
<ul>
<li>Needham analyst Mike Cikos maintained Snowflake with a Buy and raised the price target from&nbsp;$160&nbsp;to&nbsp;$200.</li>
</ul>
<ul>
<li>Rosenblatt analyst Blair Abernethy maintained Snowflake with a Buy and raised the price target from&nbsp;$180&nbsp;to&nbsp;$186.</li>
</ul>
<ul>
<li>Keybanc analyst Eric Heath maintains Snowflake with an Overweight and raised the price target from&nbsp;$150&nbsp;to&nbsp;$185.</li>
</ul>
<ul>
<li>Evercore ISI Group analyst Kirk Materne maintained Snowflake with an Outperform and raised the price target from&nbsp;$170&nbsp;to&nbsp;$190.</li>
</ul>
<ul>
<li>Wells Fargo analyst Michael Turrin maintained Snowflake with an Equal-Weight and raised the price target from&nbsp;$125&nbsp;to&nbsp;$150.</li>
</ul>
<ul>
<li>Goldman Sachs analyst Kash Rangan reiterated Snowflake with a Buy rating and maintained a price target of $220.</li>
</ul>
In a new note to clients on Thursday, Needham&#8217;s Cikos said the quarter gave him increased conviction to lift estimates, raising the price target to $200. The analyst expects large order strength to continue into the fourth quarter. 
Piper Sandler&#8217;s Bracelin characterized the quarter as being driven by &#8220;broad-based strength&#8221; and &#8220;solid&#8221; execution. The analyst expects increased contribution of data engineering features to more than offset any potential storage revenue losses, which was a concern heading into the quarter. Bracelin believes Snowflake will sustain greater than 20% growth next year.
Keybanc&#8217;s Heath noted that management commentary on the call was &#8220;very encouraging&#8221; in terms of shifting the narrative on AI. The analyst believes Snowflake is positioned to benefit from public cloud trends as an enabler of AI and generative AI workloads. 
Check This Out: <a href="https://www.benzinga.com/24/11/42113449/natural-gas-prices-spike-to-over-1-year-highs-oil-surges-to-70-as-russia-fires-intercontinental-ballistic-missile-to-ukraine">Natural Gas Prices Spike To Over 1-Year Highs, Oil Surges To $70 As Ukraine Says Intercontinental Ballistic Missile Fired By Russia</a>
Goldman&#8217;s Rangan echoed much of the same sentiment, calling the quarter &#8220;impressive&#8221; and noting that it helps improve conviction that the company can sustain mid-20s percent revenue growth while delivering 25% free cash flow margins. 
&#8220;Given the company's strong competitive positioning, we continue to view Snowflake as well positioned to capitalize on a generational shift of data and analytics to the cloud, with strong secular tailwinds including cloud adoption, big data, AI/ML, and secure data sharing which we expect will drive durable growth for the foreseeable future,&#8221; the Goldman analyst said.
SNOW Price Action: Snowflake shares were up 33.5% at $172.41 at the time of publication, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
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Photo: courtesy of Snowflake.

Earnings

News

Price Target

Movers

AMZN

SNOW

Snowflake Stock Is Blazing Higher Thursday: What's Going On?

E.l.f. Beauty, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>) shares are trading relatively flat on Thursday after the company issued a statement in response to a report <a href="https://www.benzinga.com/24/11/42097477/muddy-waters-carson-block-is-betting-against-elf-beauty-short-seller-believes-company-is-overstating-revenue-earnings-major-red-flag">from Muddy Waters Research.</a>
Short seller Muddy Waters released a report Wednesday alleging that E.L.F. has overstated its revenue over the last three quarters by approximately $135 million to $190 million. Muddy Waters Research founder Carson Block revealed a new short position in E.l.f. Beauty at the Sohn Conference on Wednesday.
"We believe that in Q2 FY24, ELF management realized its growth narrative was in trouble as its inventory built. It appears that ELF then began reporting inflated revenue and profits," the short seller said.
<a href="https://www.benzinga.com/pressreleases/24/11/b42108198/e-l-f-beauty-issues-statement-refuting-unsubstantiated-short-seller-report">According to the company</a>, the short seller&#8217;s report aimed to negatively impact E.l.f. Beauty&#8217;s stock price.
E.l.f. Beauty rejected the allegations, calling them &#8220;without merit&#8221; and stating that Muddy Waters relied on incomplete data, flawed assumptions, and speculation.
Check This Out:&nbsp;<a target="_blank" href="https://www.benzinga.com/trading-ideas/movers/24/11/42092578/oklo-stock-slides-as-short-seller-sets-sights-on-altman-backed-nuclear-startup" rel="noreferrer noopener">Oklo Stock Slides As Short Seller Sets Sights On Altman-Backed Nuclear Startup</a>
The beauty company pointed out that in early 2024, for competitive reasons, it filed a request with U.S. Customs and Border Protection to keep certain customs import data confidential.
This request resulted in a lack of public import data after Feb. 6, which Muddy Waters had used in its analysis. E.l.f. Beauty emphasized that the import data presented by Muddy Waters was not reflective of the company's actual U.S. imports.
Further, E.l.f. Beauty refuted Muddy Waters&#8217; assertions by pointing to strong consumption data from Nielsen and Circana, which showed robust demand for its products. The company also highlighted its rigorous inventory control procedures and revenue recognition practices, which ensure accurate financial reporting.
In its statement, E.l.f. Beauty reiterated its confidence in its financials, citing its recent second-quarter fiscal 2025 results, which marked the 23rd consecutive quarter of net sales growth and market share gains. The company remains confident in its business model, strategy, and momentum in the competitive beauty industry.
Price Action: ELF shares were up 5.4% to $125.46 at last check Thursday.
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42096714/target-margins-and-inventory-issues-raise-analyst-caution-after-weak-q3-performance" target="_blank" rel="noreferrer noopener">Target Margins And Inventory Issues Raise Analyst Caution After Weak Q3 Performance</a></li>
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Photo: Pixabay

Equities

Short Sellers

Markets

General

E.l.f. Beauty Fires Back At Muddy Waters Over Revenue Inflation Claims

Ethereum Classic (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/etc/usd">ETC</a>) has surged 24% to $26.89 this week, fueled by investor optimism in the <a href="https://www.benzinga.com/crypto">cryptocurrency</a> market.
This rally comes amid Bitcoin's historic <a href="https://www.benzinga.com/24/11/42102366/bitcoin-taps-95k-ethereum-dogecoin-flat-as-trumps-crypto-policy-takes-shape-top-analyst-describes-btcs-path-to-135k">climb toward $100,000</a> and rising institutional interest across digital assets, signaling renewed confidence in Ethereum Classic's long-term prospects.
What To Know: The gains for ETC align with broader enthusiasm for Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), which is experiencing strong speculation about its ability to hit $4,000 this November. 
Ethereum Classic, often considered the original Ethereum blockchain following the <a href="https://www.benzinga.com/money/how-to-buy-ethereum-classic-etc">2016 hard fork,</a> is benefiting from renewed attention to Ethereum-based ecosystems as developers and investors explore its potential for decentralized applications (dApps) and smart contracts.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42114875/coinbase-ceo-brian-armstrong-stands-out-as-candidate-for-donald-trumps-reported-crypto-czar-position-cardano-co-founder-says">Coinbase CEO Brian Armstrong &#8216;Stands Out&#8217; As Candidate For Donald Trump&#8217;s Reported &#8216;Crypto Czar&#8217; Position, Cardano Co-Founder Says</a>
What Else: Another factor boosting ETC is its correlation with Ethereum's proof-of-stake (PoS) transition. Since Ethereum's move to PoS with the Merge, some miners have shifted resources to Ethereum Classic, strengthening its hash rate and security. This enhanced network robustness is likely contributing to increased investor confidence.
The current rally also ties into macroeconomic conditions, with easing global monetary policies encouraging capital flows into riskier assets, including cryptocurrencies. 
Additionally, rising institutional activity, including surging Bitcoin ETF inflows, has amplified interest in altcoins like Ethereum Classic.
Read Also: <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42102769/floki-beats-dogecoin-shiba-inu-with-double-digit-gains-after-coinbase-listing-announcement">Floki Beats Dogecoin, Shiba Inu With Double-Digit Gains After Coinbase Listing Announcement</a>

$ETC

$ETH

Why Ethereum Classic Is Exploding Higher This Week

Good Morning Traders! In today&#39;s Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA.
Our proprietary formula, exclusive to Market Clubhouse, dictates these price levels. This dynamic equation takes into account price, volume, and options flow. These levels are updated every day and shared with all Clubhouse Members, prior to the opening of the market.
We recommend closely monitoring these stocks, and be prepared to leverage potential breakouts or reversals. As always, stay alert and ready to adjust your tactics based on the market&#39;s pulse to optimize your trading gains. Now, let&#39;s dive into the stock analysis:
<h3>SPDR S&amp;P 500 ETF Trust</h3>
SPY&nbsp;(ARCA: SPY) is currently trading near the 592.00 level, a critical area for today&#39;s session. If bulls maintain control above this mark, the first target on the upside is 593.73, which would indicate strengthening buy momentum. If this level holds during regular trading hours, buyers are likely to push the price toward 596.57. Sustained bullish activity above 596.57 could bring the high-interest zone of 598.04 into focus, with the ultimate target on the day at 599.24 if the broader market sentiment aligns.
On the flip side, failure to hold 592.00 as a support level could embolden the bears. A test of 589.71 would be the next likely scenario. If sellers remain active below this point, deeper downside exploration toward 587.31 could occur. Breaking this level might lead to a move lower to 585.75, with a potential daily bear target at 584.68 if selling pressure intensifies.
<h3>Invesco QQQ Trust Series 1</h3>
QQQ (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>) is hovering around the key 504.44 level, a pivotal area for bulls to defend. Holding this support could set the stage for a rally toward 506.68, with sustained buying potentially extending gains to 509.87. A bullish momentum breakout above 509.87 could lead to a push toward 511.53, with 513.64 standing as the high bull target for the day.
Conversely, a failure to maintain 504.44 as support could shift control to the bears. An initial move down to 502.65 would be on the table, with further selling likely driving prices to 501.07. Continued downside momentum could open the door to 499.44, and the low bear target at 498.37 may come into play if selling accelerates during the session.
<h3>Apple Inc. </h3>
Apple&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) is trading near 229.03, a key level that bulls need to defend to maintain upward momentum. If buyers succeed, a move toward 230.25 is expected, with potential continuation to 231.76 on strong buying interest. A decisive break above this level could target 233.28, the high bull target for the day, especially if broader market conditions remain supportive.
Should 229.03 fail to hold as support, the bears could take control and test 227.82. Breaking this level might prompt further declines to 226.90, with a potential move lower to 226.08. If bearish momentum persists, the price could test the low bear target of 225.31.
<h3>Microsoft Corp.</h3>
Microsoft&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) is currently near 416.32, a crucial level to watch. A hold above this point could spur bullish momentum, leading to a test of 417.25. Sustained strength above this area might drive prices higher to 419.17, with the high bull target for the session set at 420.26 if buyers dominate.
Failure to maintain 416.32 as a support level could lead to bearish activity, testing 414.56. If selling pressure continues, the next target is 413.14. A breakdown below this area could see the price move toward 411.72, with the low bear target of 410.64 within reach on heavy downside pressure.
NVIDIA Corporation 
NVIDIA&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) is positioned near 144.21, a key level for today&#39;s session. Bulls need to drive the price toward 145.61 to establish solid support. From there, continued buying could lift the stock to 147.06, with additional momentum targeting 148.52. The high bull target stands at 150.32, achievable if bullish sentiment dominates the session.
Should 144.21 fail to act as support, bears will likely push the price toward 142.35. A break below this level could bring 141.21 into play, with further declines potentially targeting 140.28. If selling intensifies, the low bear target of 139.42 may be tested.
<h3>Alphabet Inc Class A</h3>
Alphabet&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>) is trading near 175.12, a significant level for bulls to defend. If they succeed, an upward move to 176.23 is likely, with continued strength targeting 177.28 as the high bull target. Positive sentiment in the broader market could further support this bullish trajectory.
If 175.12 fails as support, bears may drive the price to 174.01. Additional selling could lead to a test of 172.28, with 171.14 as the low bear target for the day if bearish momentum accelerates.
<h3>Meta Platforms Inc</h3>
Meta&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) is trading around 565.53, a key pivot level for today&#39;s session. Bulls need to maintain this level to aim for a move toward 573.25. Sustained buying above 573.25 could drive prices to 580.17, with the high bull target for the day at 585.73 if strong momentum persists.
If 565.53 is lost as support, bears will likely test 559.29. A breakdown below this point could lead to further selling pressure toward 553.05, with the low bear target at 548.44 in play if sellers maintain control.
<h3>Tesla Inc.</h3>
Tesla&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) is trading around 340.97, a key level to watch closely. Bulls will aim to push the price toward 346.64 as a first target. If bullish momentum continues, 350.87 could come into play, with a strong rally potentially leading to a test of 356.80. The high bull target for the day is 363.84 if buyers maintain control throughout the session.
On the other hand, losing 340.97 as support could pave the way for bears to test 333.93. A break below this level might prompt further declines to 327.59, with 322.52 as the low bear target if sellers dominate the session.
Final Word:&nbsp; The trading day starts with a flurry of critical economic data. Initial and Continuing Jobless Claims are due at 8:30 AM ET, alongside the Philly Fed Business Outlook for November. These reports will provide insights into labor market trends and regional manufacturing conditions. At 8:45 AM ET, Fed voting member Beth Hammack will deliver remarks, potentially offering clues about future monetary policy.
At 10:00 AM ET, the Leading Index and Existing Home Sales data for October will be released, shedding light on economic momentum and housing market health. Midday action includes the Kansas City Fed Manufacturing Activity at 11:00 AM ET, followed by speeches from non-voting Fed member Austan Goolsbee and Beth Hammack at 12:25 PM ET and 12:30 PM ET, respectively. The 10-Year TIPS Auction at 1:00 PM ET adds another layer of complexity to the session. Additionally, markets are digesting NVIDIA&#39;s earnings surprise, which could fuel volatility. Traders should remain vigilant, adjust strategies to the day&#39;s developments, and prioritize risk management in a potentially turbulent environment. Good luck and trade safely!
The Morning Memo is curated by RIPS, a pro trader with years of experience in equities, options, and futures trading. RIPS is at the heart of the exclusive Market Clubhouse community, offering his insights, expertise, and real-time mentorship.
Start your day with a live daily market analysis, a carefully selected watch list, early access to the Morning Memo, and exclusive Market Clubhouse price levels, providing precise support and resistance indicators. When you become a member of Market Clubhouse, you will gain early access to the Morning Memo, just like this one, every single day&mdash;hours before it&#39;s published. You will also have access to a live stream with zero latency and screen sharing, enabling you to witness Rips executing his trades in real-time and sharing his exclusive trading plans, strategies, and live decision-making.
For a limited time during our special promotion, you can join RIPS and get a full access pass to Market Clubhouse for 7 full days for just $7. Check it out at <a href="https://marketclubhouse.club/7Days/" title="https://marketclubhouse.club/7Days/">https://marketclubhouse.club/7Days/</a> where you can trade live with him and tap into his wealth of knowledge and experience. You can also catch Rips on his live day trading streams every Monday-Friday at 8 am EST on the Market Clubhouse YouTube channel: <a href="https://www.youtube.com/@MarketClubhouse" title="https://www.youtube.com/@MarketClubhouse">https://www.youtube.com/@MarketClubhouse</a>.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

Trading Ideas

AAPL

GOOGL

MSFT

NVDA

TSLA

Market Clubhouse Morning Memo - November 21st, 2024 (Trade Strategy For SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META And TSLA)

WIIM

VSTS

Vestis shares are trading higher. The company reported Q4 financial results.

Insider Trades

GRNT

SEC Form 4 Filing Shows Granite Ridge Resources Director Matthew Reade Buys 18,173 Shares At An Average Price Of $6.49

Evercore ISI Group analyst Shweta Khajuria maintains Trade Desk (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>) with a Outperform and raises the price target from $110 to $135.

Analyst Ratings

Evercore ISI Group Maintains Outperform on Trade Desk, Raises Price Target to $135

Bitcoin Cash (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bch/usd">BCH</a>) has soared 15% to $486.71 this week, riding the wave of investor enthusiasm across the <a href="https://www.benzinga.com/crypto">cryptocurrency</a> market. 
The rally coincides with heightened activity in the broader crypto space, particularly Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) drive toward record highs, as well as favorable speculation about November's performance for leading cryptocurrencies.
What To Know: Bitcoin's all-time high of $98,310 and the <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42114012/bitcoin-price-hitting-100000-in-november-polymarket-traders-speculate-it-might-go-even-higher">ensuing predictions</a> of it potentially surpassing $100,000 have reignited interest in its offshoot, Bitcoin Cash. BCH often benefits from Bitcoin's momentum, as investors view it as a faster and more cost-effective alternative for transactions.
Additionally, Bitcoin Cash's rise comes amidst strong institutional inflows into Bitcoin-related assets, such as spot ETFs, which recorded $1.84 billion in net inflows in the past three days. The enthusiasm for Bitcoin appears to be trickling down to its derivative projects, including BCH.
The rally could also be attributed to Bitcoin Cash's appeal as a practical digital currency, aligning with growing use-case narratives as global monetary policies ease. 
Recent network upgrades to improve BCH's scalability and transaction efficiency have bolstered its utility, making it potentially an attractive asset in a bullish environment.
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Why Bitcoin Cash Is Up 15% This Week

TD Cowen analyst Phil Nadeau reiterates Kura Oncology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KURA#NASDAQ">KURA</a>) with a Buy.

Reiteration

KURA

TD Cowen Reiterates Buy on Kura Oncology

Bernie Sanders has often been criticized for owning three houses and having a net worth of around $2 million, especially by those on the right who call out his <a href="https://www.benzinga.com/startups/24/10/41303029/id-still-have-1-3-billion-bill-gates-says-bernie-sanders-would-take-99-of-his-fortune-he-claims-hed">stance on wealth inequality</a>. But Sanders has a simple explanation for his wealth and shared his thoughts during an appearance on the Lex Fridman <a href="https://www.youtube.com/watch?v=miWJinIlMjc">Podcast</a>.
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&#8220;Do I own three residences? Yeah, I do,&#8221; Sanders said. He explained that he lives in Burlington, Vermont, in a &#8220;middle-class neighborhood, nice house,&#8221; and owns another home in Washington, D.C., like most senators do. He also has a summer camp on Lake Champlain. &#8220;That&#8217;s it,&#8221; Sanders stated, noting that his homes are far from luxurious. &#8220;They&#8217;re middle-class houses.&#8221;
When asked how he managed to afford these properties, Sanders pointed to his success as an author. &#8220;I wrote two bestselling books,&#8221; he said, including one about capitalism that became a New York Times bestseller. He also earns $175,000 a year as a senator.
Sanders emphasized that while he&#8217;s now comfortable financially, his working-class background remains a key part of who he is. &#8220;Growing up in a working-class family has been maybe the most singularly significant aspect of my politics,&#8221; he said. He grew up in a rent-controlled apartment in Brooklyn and remembers not having money.
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&#8220;I don&#8217;t really give a damn about money,&#8221; he added. Sanders drives an 11-year-old car, wears a solar-powered watch and owns a simple wedding ring – no luxury goods. &#8220;I don&#8217;t have a Rolex watch, would not be interested in it,&#8221; he said. For Sanders, money isn&#8217;t about status; it&#8217;s about security.
&#8220;The major thing about having money … I don&#8217;t have to worry if somebody in my family gets sick. I don&#8217;t have to worry about putting food on the table or paying the mortgage,&#8221; he explained. Sanders noted how this lack of <a href="https://www.benzinga.com/personal-finance/24/07/39988774/survey-finds-nearly-half-of-people-say-2024-is-the-most-stressful-year-financially-94-admit-sacr">financial stress</a> is a luxury and he&#8217;s aware of how different that is from the experience of <a href="https://www.benzinga.com/real-estate/24/06/39274689/amid-rising-costs-financial-strain-becomes-americas-chief-anxiety">many working-class Americans</a>.
Sanders also discussed how easy it is for politicians to lose touch with everyday struggles: &#8220;It&#8217;s a very easy trap to fall into – you can get separated from ordinary people and their struggles,&#8221; he admitted. By frequently working directly with members of the working class and endorsing labor strikes, he tries to stay grounded.
Despite his financial comfort, Sanders remains focused on fighting for the working class. &#8220;I do my best,&#8221; he said, adding that having wealth doesn&#8217;t mean he&#8217;s forgotten where he came from or the struggles he faced earlier in his life.
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</ul>
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Bernie Sanders Says It's 'Very Easy' To Lose Touch With Ordinary People's Struggles, Defends Owning 3 Houses And A $2 Million Net Worth

<h4>Key Takeaways:</h4>
<ul>
<li>RLX&rsquo;s third quarter revenue rose 52%, as its gross margin rose more than 3 percentage points to 27.2% following a regulatory crackdown in 2021</li>
<li>A year after expanding beyond its China base, international business accounted for more than half of the vaping company&rsquo;s revenues in the third quarter</li>
</ul>
By Edith Terry
Vaping may not be as hazardous to your health as smoking, but it was quite the damper for&nbsp;RLX Technology Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rlx#NYSE">RLX</a>) when the company was doused by a massive wave of new regulation in 2021 in its home China market. Now, three years later, the company may finally be turning a corner, capitalizing on a globalization strategy where it&rsquo;s finding success using a combination of strong brand recognition and its own deep pockets.
Non-China business in five countries in East Asia, Southeast Asia and Oceania accounted for more than half of the company&rsquo;s revenues in the third quarter, said Sam Tsang, RLX&rsquo;s head of capital markets, on the company&rsquo;s earnings call after the release of its&nbsp;<a href="https://www.prnewswire.com/news-releases/rlx-technology-announces-unaudited-third-quarter-2024-financial-results-302305299.html">third-quarter results</a>&nbsp;last week.
That&rsquo;s quite a feat when one considers the company only posted its first international sales of 228.5 million yuan starting last year, when that category made up 17% of revenues for the year. The company is also considering additional markets in 2025, either in the Middle East or Central America, Tsang added.
&ldquo;Based on our internal estimates, we are currently the number one brand in three out of five countries in terms of revenue from the closed system e-vapor category,&rdquo; he said. &ldquo;We are also one of the leading brands in the remaining two countries. We also sell products to affiliates that sell to their overseas distributors.&rdquo;
Its strong overall performance for the quarter was enough to catch the attention of investors, who bid up RLX&rsquo;s shares by 9.3% in the five days after the quarterly report&rsquo;s release. And in a show of confidence about its prospects, the company announced it would pay a dividend in December.
RLX&rsquo;s main metrics were all quite hot in the latest quarter. Its revenue rose 52% year-on-year to 756.3 million yuan, marking a sixth consecutive quarter of growth. With revenue of 1.9 billion yuan in the first nine months of this year, RLX is already well ahead of the 1.5 billion yuan it generated for all of last year, though it&rsquo;s still well off the 8.5 billion yuan it clocked during its heyday in 2021.
That was the year China abruptly banned online sales of vaping devices, followed by a subsequent ban on flavored vapes that appealed to the youth market and imposition of a 36% sales tax on all vaping products.
The company&rsquo;s gross margin also rose to 27.2% in the latest quarter from 24.1% a year earlier. Its quarterly net income for the third quarter fell slightly year-on-year to 169.4 million yuan. But its non-GAAP profit, which excludes some non-operational factors like stock-based employee compensation, rose 30% year-on-year to 261.9 million yuan.
Tsang&rsquo;s disclosure that more than half of RLX&rsquo;s revenue came from outside China means the company got less than 378 million yuan from the domestic market during the period. That shows the domestic market is still suffering, since RLX recorded 498.9 million yuan in revenues in the third quarter of 2023, most of that probably from China.
<h3>Rebuilding China Business</h3>
The company has previously said it is still rebuilding its China business under the tighter post-crackdown restrictions. It has also complained that it faces competition from illegal products that may, for example, still use flavorings favored by many users.
On the earnings call, Tsang said retail outlets in China had declined from 50,000 in the pre-crackdown era to just 10,000, and reiterated that the flood of illegal products had taken down sales for the compliant industry by 80% to 90%. But he added that sales for products at a range of price points had started stabilizing this year.
RLX has been somewhat late jumping onto the export bandwagon. China produces as much as 95% of the world&rsquo;s vaping products, but 90% of those are exported. Grand View Research estimated the China e-cigarette and vape market was worth $2.27 billion in 2023, equal to just 9% of the $24.6 billion in global sales that year estimated by data aggregator Statista. RLX competitors like&nbsp;Ispire Technology&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ispr#NASDAQ">ISPR</a>) and&nbsp;Smoore International&nbsp;(6969.HK) both derive significant revenues from selling to markets outside China.
RLX&rsquo;s sales were all in China until late 2023. It joined forces with the government in China to combat illegal products that were a big factor in depressing sales, with its Golden Shield program helping to intercept 60 million fake cartridges in 2023. CEO Wang Ying, who also uses the name Kate, said on the earnings call that between 80% and 90% of products sold in China were illegal. While the counterfeit problem may be easing this year, RLX isn&rsquo;t waiting for the market to rebound and instead is diversifying geographically to fortify its business.
To kick off its global drive, it announced $25 million in equity investments in two companies in Northeast Asia and Southeast Asia last December. So far it has yet to enter the large but similarly tricky U.S. market, which has engaged in its own regulatory crackdowns and is also clamping down on a flood of illegal vaping devices.
RLX has spent millions of dollars on U.S. Food and Drug Administration-required studies since 2020 but has yet to receive approval for its devices. While it has not revealed which specific markets it has entered or is targeting, it has distribution in Indonesia, which has a smoking population of 61.4 million &ndash; far more than 28.3 million in the U.S. though tiny compared to China&rsquo;s 300 million smokers.
While estimates of prospects for the global vaping market vary widely, most agree it is growing by double digits. RLX CEO Wang concurred, saying the international industry should experience annual growth in the teens percentage range over the next few years as more adult smokers transition from cigarettes to vaping products.
Despite all the beating it&rsquo;s taken over the last three years, RLX&rsquo;s price-to-sales (P/S) ratio of 8.81 is still far ahead of Ispire&rsquo;s 3.06, probably due to the fact that Ispire is losing money and its revenue is falling.
Ispire also reported last week that its revenue declined by 9% year-on-year to $39.3 million in the three months to September, while its net loss widened to $5.6 million from $1.3 million. One thing Ispire shares with RLX is its search for new markets, as it tries to expand beyond the U.S. where its sales plunged by more than half in the latest quarter to $8.1 million. That just goes to show that the U.S. and China may be the world&rsquo;s two largest economies, but they&rsquo;re hardly friendly to vaping companies.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

Penny Stocks

Small Cap

ISPR

Rebounding RLX Plots Course Beyond China

By <a href="https://roboforex.com/beginners/analytics/forex-forecast/?utm_source=benzinga.com&amp;utm_medium=pr&amp;utm_campaign=rf_en_external_article_21112024&amp;utm_content=analysis&amp;utm_term=forecast" style="color:#0563c1; text-decoration:underline">RoboForex Analytical Department</a>
The NZD/USD pair is trading near 0.5879, experiencing volatility as the market awaits the upcoming Reserve Bank of New Zealand (RBNZ) meeting. Expectations are leaning towards a significant rate cut, with a 50-basis-point reduction considered the baseline scenario and a 25% probability of a more aggressive 75-basis-point cut.
Adding to the uncertainty are pessimistic projections from the New Zealand Treasury, suggesting potential delays in economic recovery, further weighing on sentiment around the NZD.
Internally, the US dollar&rsquo;s strength, fuelled by mixed expectations regarding the Federal Reserve&rsquo;s policy decisions in December, continues to exert substantial pressure on the NZD. Since the US election, the dollar has emerged as a dominant force, benefiting from robust domestic factors, and overshadowing other currencies that lack similar support, leading to their devaluation. As a result, the NZD, particularly vulnerable, reflects this broader depreciation trend against the USD.
<h3>Technical Analysis Of NZD/USD</h3>
<a href="https://www.benzinga.com/files/u117641/nzdusdh4_14.png"><img alt="" src="https://www.benzinga.com/files/u117641/nzdusdh4_14.png" style="height:280px; width:624px" /></a>
On the H4 chart of NZD/USD, the market corrected to the 0.5921 level. Today, a decline wave structure is forming at the 0.5858 level, marking the boundaries of the consolidation range. A downward exit from this range could indicate the potential for the wave to extend towards 0.5777. Alternatively, an upward exit may result in another corrective move towards 0.5944 before the price resumes its decline to 0.5777.&nbsp; From a technical standpoint, this bearish outlook for NZD/USD is supported by the MACD indicator, with its signal line below zero and sloping downward.
<a href="https://www.benzinga.com/files/u117641/nzdusdh1_14.png"><img alt="" src="https://www.benzinga.com/files/u117641/nzdusdh1_14.png" style="height:280px; width:624px" /></a>
On the H1 chart of NZD/USD, the market has formed a consolidation range around 0.5875. Today, another decline wave towards 0.5777 is likely to develop. At this level, the wave is expected to exhaust its downside potential. This scenario is technically confirmed by the Stochastic oscillator, with its signal line below 50 and trending downward.
Disclaimer
Any forecasts contained herein are based on the author&#39;s particular opinion. This analysis may not be treated as trading advice. RoboForex bears no responsibility for trading results based on trading recommendations and reviews contained herein.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Forex

NZD/USD Under Pressure Amidst USD Strength

Evercore ISI Group analyst Michael Binetti maintains TJX Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TJX#NYSE">TJX</a>) with a Outperform and raises the price target from $138 to $142.

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Upgrades

Scotiabank Upgrades Anglogold Ashanti to Sector Perform, Maintains Price Target to $30

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PANW

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Vestis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSTS#NYSE">VSTS</a>) reported quarterly earnings of $0.11 per share which missed the analyst consensus estimate of $0.13 by 15.38 percent. This is a 87.36 percent decrease over earnings of $0.87 per share from the same period last year. The company reported quarterly sales of $684.28 million which missed the analyst consensus estimate of $694.22 million by 1.43 percent. This is a 4.42 percent decrease over sales of $715.90 million the same period last year.

Earnings Misses

Reported Earlier, Vestis Q4 Adj $0.11 Misses $0.13 Estimate, Sales $684.28M Miss $694.22M Estimate

Evercore ISI Group analyst Greg Melich maintains Target (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) with a In-Line and lowers the price target from $165 to $130.

Evercore ISI Group Maintains In-Line on Target, Lowers Price Target to $130

Scotiabank analyst Tanya Jakusconek upgrades Compañía de Minas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BVN#NYSE">BVN</a>) from Sector Underperform to Sector Perform and maintains the price target from $15 to $15.

Scotiabank Upgrades Compañía de Minas to Sector Perform, Maintains Price Target to $15

Benchmark analyst Mark Zgutowicz maintains Wix.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WIX#NASDAQ">WIX</a>) with a Buy and raises the price target from $225 to $250.

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On November 20, 2024, the Board of Directors of United Bancorp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UBCP#NASDAQ">UBCP</a>) declared a fourth quarter dividend payment of $0.18 per share for shareholders of record on December 10, 2024 with a payment date of December 20, 2024. This payment is greater than the regular cash dividends paid in the first three quarters of the current year, which were $0.1725, $0.1750 and $0.1775 respectively. With this fourth quarter dividend payment and year-to-date, UBCP has paid total cash dividends of $0.8550 (inclusive of a special cash dividend of $0.15 paid in the first quarter), which is an increase of $0.04, or 4.9%, over the amount paid during the same period the previous year. At the fourth quarter payment level, the regular cash dividend produces a forward yield of 5.4% based on UBCP&#39;s market value of $13.13 at the most recent quarter-end.

Dividends

UBCP

United Bancorp Increases Its Q4 Cash Dividend Payment From $0.1775 To $0.18 Per Share

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