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BERLIN Oct 20 Reuters German producer prices rose more than expected in September maintaining the previous month s record pace as energy prices soared according to data released on Thursday Producer prices of industrial products rose 458 on the same month last year the Federal Statistical Office reported compared with economists expectations for the rate of increase to ease to 447 Compared to August 2022 prices rose 23 which was also above consensus for 13 Reporting by Maria Sheahan Editing by Rachel More

The US Securities and Exchange Commission SEC consented to defer the collection of a 30 million fine from the insolvent crypto lending platform BlockFi until such time as the investors have been reimbursed What Happened Initially BlockFi was under obligation to pay a 50 million penalty to the SEC to resolve allegations of not having registered its crypto lending product with the regulatory body BlockFi conceded to the settlement in February 2022 In November it entered bankruptcy proceedings following the downfall of the cryptocurrency exchange FTX The SEC claimed its outstanding payments should be treated as general unsecured claims amidst BlockFi s ongoing Chapter 11 bankruptcy process Read Next The Great Accumulation Of Bitcoin ETF Filings Signal New Era For Crypto Investment Say Experts Notwithstanding the regulator decided to hold off on receiving the payment with the aim to maximize the amount that may be distributed to investors and avoid delay in such distribution as stated in the agreement that was concluded on June 22 In May a judge in a New Jersey bankruptcy court declared that BlockFi s customers are eligible to receive 300 million from funds stored in custodial wallets on its platform Why It Matters While BlockFi’s bankrupt estate has submitted a restructuring plan to the court which is slated for review in a July hearing BlockFi has indicated that the 1 billion in claims against the collapsed crypto company FTX and its affiliate trading entity Alameda will be the largest driver of recovering funds for customers and creditors Read NextFrench Regulators Approve Banking Giants Crédit Agricole Santander For Crypto Custody Join Benzinga s Future of Crypto in NYC on Nov 14 2023 to stay updated on trends like AI regulations SEC actions institutional adoption in the crypto spaceSecure early bird discounted tickets now Photo Shutterstock

Major coins flashed red on Thursday evening as the global cryptocurrency market cap declined 1 to 959 billion at 857 pm EDT See Also How To Get Free Crypto Why It Matters Bitcoin and Ethereum traded lower on Thursday evening after major US stock indices charted declines intraday At the time of writing the SP 500 and Nasdaq futures were 02 and 025 lower respectively Investors remain nervous about the September jobs report due for release on Friday “US stocks bounced around on payrolls eve digesting another round of hawkish Fed speak Minneapolis Fed President Neel Kashkari signaled there is no Fed pivot coming until financial conditions worsen significantly from here” said Edward Moya a senior market analyst with OANDA “Bitcoin appears to be consolidating around the 20000 level as much of Wall Street awaits Friday’s nonfarm payroll report” said Moya in a note seen by Benzinga “Much of the crypto headlines focus on the recent woes for the space but are not containing any new bearish catalyst Bitcoin’s next major move will likely be determined by what is the next major move with rates and we will find that out tomorrow morning” Justin Bennett said that cryptocurrency markets have been “boring” recently and in particular action related to Bitcoin “This has been a range trader s dream though I still think it s only a matter of time before we see short liquidations run between 20450 and 20800” said the trader on Twitter Market capitalization versus its realized capitalization a metric that is calculated by dividing an asset’s market capitalization by realized capitalization shows that average traders are “still underwater” on their investments tweeted market intelligence platform Santiment “Based on most returns across multiple timeframes altcoins continue to show historically beneficial levels for the patient” Institutional investors are still not buying Bitcoin tweeted CryptoQuant The apex coin is likely to lose its upward momentum if the prices rose without purchasing by institutional investors before the FOMC rate announcement in November said the community based cryptocurrency analysis firm Read Next South Korean Police Arrest First Suspect In Terra Collapse Case Report

TPCO Holding Corp NEOGRAMU OTCQXGRAMF released Tuesday its second quarter financial results with revenue of 274 million missing the Yahoo Finance Average analyst estimate of 3323 million Compared to the same period of 2021 revenue declined 49 from 542 million Q2 2022 Financial Operational Highlights Net loss and comprehensive loss for Q2 2022 was 305 million compared to net income of 582 million in Q2 2021 Gross profit for Q2 2022 was 66 million or 24 of net sales which compared to gross profit of 478 million in the same period of 2021 Adjusted EBITDA was a loss of 184 million compared to adjusted EBITDA loss of 1312 million in the corresponding period of last year Our team remains focused on our business transformation and this quarter s results are an early indication that our profitability improvement plan is working stated Troy Datcher chief executive officer and chairman of The Parent Company As anticipated our efforts to maximize the contributions from our omni channel retail opportunities and minimize our exposure to the California wholesale market have significantly shifted our revenue mix While this decision compressed topline sales it drove solid Q2 gross margin of 24 compared to 9 in the prior year period as our omni channel retail revenue grew 60 to account for 69 of our net sales in the quarter Subsequent Events Expanded into east coast market with exclusive brand licensing and cultivation production agreements in Maryland with Curio Wellness Initial brands to be introduced under the terms of the Licensing Agreement include Monogram Caliva Mirayo by Santana and other TPCO owned brands in a variety of product form factors including jarred fresh flower pre rolls premium vapes and infused gummies Some of the products will feature signature strains of cannabis cultivated by Curio in collaboration with The Parent Company The Parent Company brands are expected to initially be available at Curio s Far Dotter dispensaries with broad wholesale distribution to dispensaries across the State to follow Update on Long term Profitability Initiatives As previously announced the company has begun the process of implementing a variety of strategic initiatives that are primarily focused on the preservation of its balance sheet while strengthening its omni channel retail business Since the announcement of this initiative the company has taken meaningful steps to reduce costs drive efficiencies and accelerate its path to sustainable long term profitability The Price Action The Parent Company shares were trading 184 lower at 80 cents per share at the time of writing Tuesday morning Related news Cannabis Companies Nabis And The Parent Company Forge Exclusive Distribution Partnership The Parent Company To Enter Maryland Cannabis Market Via Exclusive Partnership With Curio Wellness Photo Courtesy of CRYSTALWEED cannabis on Unsplash

These Are The Cannabis Stocks And Potential Opportunities Piquing Investor Interest In Early 2022 Cannabis experienced a bit of a setback in 2021 with sales dipping in many major US markets compared to the staggering results of the year prior setting the stage for a new year of potential opportunity and uncertainty

The market appears to be persisting with its circumspect mood as seen by the trading in the index futures on Friday Cues From Thursday’s Trading US stocks ended Thursday’s session lower as traders digested earnings news flow and a rise in bond yields following a trio of Treasury auctions The major averages opened the session higher after the Labor Department’s weekly jobless claims report showed a bigger than expected increase in claims for the recent reporting See Also Best Options Trading Strategies The indices slowly and steadily gave back their gains and fell below the unchanged line by the mid session Selling continued into the afternoon on account of which the averages closed notably lower The SP 500 Index and the Nasdaq Composite settled at their lowest levels in a little over a week with the Nasdaq Composite retreating to its lowest since Jan 23 The market witnessed broad based weakness with communication services stocks once again leading the retreat Material financial and utility stocks also came under selling pressure US Indices Performance On Thursday Index Performance Value Nasdaq Composite 101 1178958 SP 500 Index 088 408150 Dow Industrials 073 3369988 Analyst Color Stocks traded in a narrow range this week as winners and losers of the earnings season steeredthings more than macro consideration said fund manager Louis Navellier “We seem to be in equilibrium between the bulls getting a very strong January bounce and the bears having plenty of misses in the earning season and subsequent forecast cuts” he said Navellier repeated his call for profit taking in names that have risen to very high PEs and the names that have bounced on cost cutting plans but have execution risk He expects names with high quality earnings and reasonable PEs whichcontinue to beat their forecasts to outpace index performance Meanwhile Charlie Bilello chief market strategist at CPI Wealth shared a graphic of the results of the American Association of Individual Investor’s Sentiment survey which showed bulls outnumbering bears in the recent week This snapped 44 consecutive weeks of bearish sentiment Bulls finally outnumbered Bears in this week s AAII Sentiment Poll ending a record streak of 44 consecutive weeks of bearish sentiment We haven t seen more Bulls than Bears in this poll since March 2022 SPX pictwittercomfPT2zTYQ4p— Charlie Bilello charliebilello February 9 2023 “20 rally off the October lows the biggest bounce we ve seen since the market peaked in January 2022 Counterintuitive but many investors hate sales and love higher prices” he said explaining the reason for the bullishness of retail investors Futures Today US Futures Performance On Friday Index Performance Nasdaq 100 Futures 116 SP 500 Futures 064 Dow Futures 039 R2K Futures 076 In premarket trading on Friday the SPDR SP 500 ETF TrustNYSESPY fell 060 to 40464 and the Invesco QQQ TrustNASDAQQQQ receded 119 to 29810 according to Benzinga Pro data Upcoming Economic Data The University of Michigan is scheduled to release the results of its preliminary consumer sentiment survey for February at 10 am EST Economists expect the index to edge up from 649 in January to 65 in February Traders may also focus on the inflation readings of the report namely the one year and five year inflation expectations Fed Governor Christopher Waller is expected to speak at 1230 pm EST Earlier this week he said at an Agribusiness conference in Arkansas that the central bank’s efforts are paying off and thatit has more work to do Stocks In Focus LyftInc NASDAQLYFT plunged over 33 in premarket trading on its fourth quarter earnings miss and weak guidance SaaS provider AlteryxInc NASDAQAYX climbed over 10 following its better than expected quarterly results News Corp NYSENWSA NYSENWS fell over 4 on sub par fourth quarter results CloudflareInc NYSENET rose over 7 in reaction to its quarterly report Global PaymentsInc NYSEGPN Magna InternationalInc NYSEMGA and Newell BrandsInc NASDAQNWL are among the notable companies releasing their earnings reports ahead of the market open Top Analysts’ Call Lyft Truist downgrades from Buy to Hold and reduces price target from 40 to 14 DA Davidson downgrades from Buy to Neutral and reduces price target from 19 to 1250 KeyBanc downgrades from Overweight to Sector Weight Micron TechnologyInc NASDAQMU Mizuho upgrades from Neutral to Buy and raises price target from 48 to 72 Commodities Bonds Other Global Equity Markets Crude oil futures which snapped a three session winning streak on Thursday were rebounding on Friday A barrel of WTI grade crude oil traded up about 2 at 7962 Meanwhile the yield on the benchmark 10 year US breached the 37 level on Friday and traded 0019 points higher at 3702 Most Asia Pacific markets ended Friday’s session lower tracking the negative lead from Wall Street overnight Hong Kong’s Hang Seng Index fell sharply and the Chinese market pulled back moderately Among those that bucked the downtrend were the Japanese Malaysian Singapore and New Zealand markets European stocks retreated on Friday reversing the gains of the previous session The major averages in the region opened lower with the weakness intensifying in late morning trading Read Next El Erian Sees 3 Inflation Scenarios Worst Thing Is To Fall Back Into Complacency

A whale with a lot of money to spend has taken a noticeably bearish stance on JDcom Looking at options history for JDcom NASDAQJD we detected 12 strange trades If we consider the specifics of each trade it is accurate to state that 41 of the investors opened trades with bullish expectations and 58 with bearish From the overall spotted trades 5 are puts for a total amount of 307844 and 7 calls for a total amount of 361895 What s The Price Target Taking into account the Volume and Open Interest on these contracts it appears that whales have been targeting a price range from 500 to 625 for JDcom over the last 3 months Volume Open Interest Development Looking at the volume and open interest is a powerful move while trading options This data can help you track the liquidity and interest for JDcom s options for a given strike price Below we can observe the evolution of the volume and open interest of calls and puts respectively for all of JDcom s whale trades within a strike price range from 500 to 625 in the last 30 days JDcom Option Volume And Open Interest Over Last 30 Days Biggest Options Spotted Symbol PUTCALL Trade Type Sentiment Exp Date Strike Price Total Trade Price Open Interest Volume JD CALL SWEEP BEARISH 102122 5300 1133K 29K 15K JD PUT SWEEP BEARISH 012023 5000 976K 64K 413 JD PUT SWEEP NEUTRAL 012023 5000 706K 64K 255 JD PUT SWEEP BULLISH 012023 5000 674K 64K 972 JD CALL TRADE BULLISH 111822 5500 665K 28K 260 Where Is JDcom Standing Right Now With a volume of 4372734 the price of JD is up 541 at 522 RSI indicators hint that the underlying stock may be approaching oversold Next earnings are expected to be released in 44 days What The Experts Say On JDcom Susquehanna has decided to maintain their Neutral rating on JDcom which currently sits at a price target of 62 Options are a riskier asset compared to just trading the stock but they have higher profit potential Serious options traders manage this risk by educating themselves daily scaling in and out of trades following more than one indicator and following the markets closely If you want to stay updated on the latest options trades for JDcom Benzinga Pro gives you real time options trades alerts

European markets are heading for a lower open on Thursday as investors around the world prepare themselves for the latest US inflation data The negative open in Europe comes amid mixed global sentiment ahead of the latest US inflation reading US stock futures were up slightly overnight while markets in the Asia Pacific region were mixed as investors await the data Dow Jones consensus estimates show the CPI rose 03 in September up from 01 in August That would bring inflation s annual pace down to 81 from 83 A rise in the consumer price index would also follow producer price data that came in higher than expected data showed on Wednesday The US producer price index a gauge of final demand wholesale prices was up 04 in September more than the consensus estimate of a 02 increase according to Dow Jones Markets digested minutes released Wednesday from the September Federal Reserve meeting which showed the central bank expected to keep hiking interest rates until it sees receding inflation One comment made some think the Fed might instead slow the rate hikes if not roll them back if the tumult in financial markets continues

The Nasdaq Composite closed higher by 04 on Monday Investors meanwhile focused on some notable insider trades When insiders sell shares it indicates their concern in the company’s prospects or that they view the stock as being overpriced Either way this signals an opportunity to go short on the stock Insider sales should not be taken as the only indicator for making an investment or trading decision At best it can lend conviction to a selling decision Below is a look at a few recent notable insider sales For more check out Benzinga s insider transactions platform Kellogg The Trade Kellogg Company NYSEK 10 owner Kellogg W K Foundation sold a total of 100000 shares at an average price of 6522 The insider received around 652 million from selling those shares What’s Happening Kellogg reported fourth quarter FY22 sales growth of 12 year on year to 383 billion beating the consensus of 366 billion What Kellogg Does Founded in 1906 Kellogg is a leading global manufacturer and marketer of cereal cookies crackers and other packaged foods Have a look at our premarket coverage here Roblox The Trade Roblox Corporation NYSERBLX Chief Product Officer Manuel Bronstein sold a total of 5335 shares at an average price of 4500 The insider received around 24007 thousand from selling those shares What’s Happening Roblox estimated Feb average bookings per DAU were down 2 4 year over year What Roblox Does Roblox operates an online video game platform that lets young gamers create develop and monetize games or experiences for other players Diodes The Trade Diodes Incorporated NASDAQDIOD Director Michael Giordano sold a total of 10000 shares at an average price of 9000 The insider received around 900 thousand from selling those shares What’s Happening Diodes posted better than expected quarterly results What Diodes Does Diodes Inc is a manufacturer and supplier of high quality application specific products within the broad discrete logic analog and mixed signal semiconductor markets Check This Out Fear Greed Index Remains In Fear Zone US Stocks Settle Higher

Withpsilocybin amongthe favorites within psychedelics Core One Labs Inc OTCQBCLABFis joiningOptimi Health OTCOPTHF to formally begin sales for its own biosynthetic API psilocybin product On August 26 the company began discussions with adevelopment and manufacturing partner regarding the commercial scale andGMP compliant production of Core One’s Active Pharmaceutical Ingredient API psilocybin product To that end Core One’s representatives contacted several pharmaceuticaland publicly traded psychedelic companies in need ofthe psychedelic for studies and trials as well as medical clinics professionals and organizations conducting psychedelic research or therapy with whom theysharedthe news of the proprietary psilocybin’s availabilityThe company’s business approach includes complementary lines of businesses and units Besides its subsidiaries’ work on psilocybin production system using engineered bacteria psychedelic based novel compounds and additional synthetic technologies for psilocybin and psilocin production methods Core One holds an interest in four medical clinics with a combined database of more than 275000 patients Our cost efficient API biosynthetic psilocybin is garnering strong interest from companies and research groups who are looking for a supply of psilocybin Core One s CEO JoelShacker saidI believe that Core One will become a market leader in the supply of psilocybin due to being one of the first companies to market with an API grade compound as well as the other competitive advantages the company has Photo Courtesy of Olia Danilevich onPexels

A whale with a lot of money to spend has taken a noticeably bearish stance on Halliburton Looking at options history for Halliburton HAL we detected 16 strange trades If we consider the specifics of each trade it is accurate to state that 31 of the investors opened trades with bullish expectations and 68 with bearish From the overall spotted trades 2 are puts for a total amount of 712250 and 14 calls for a total amount of 808378 Taking into account the Volume and Open Interest on these contracts it appears that whales have been targeting a price range from 250 to 500 for Halliburton over the last 3 months Looking at the volume and open interest is a powerful move while trading options This data can help you track the liquidity and interest for Halliburton s options for a given strike price Below we can observe the evolution of the volume and open interest of calls and puts respectively for all of Halliburton s whale trades within a strike price range from 250 to 500 in the last 30 days Halliburton Option Volume And Open Interest Over Last 30 Days Where Is Halliburton Standing Right Now With a volume of 5695807 the price of HAL is up 264 at 4157 RSI indicators hint that the underlying stock may be approaching overbought Next earnings are expected to be released in 48 days Options are a riskier asset compared to just trading the stock but they have higher profit potential Serious options traders manage this risk by educating themselves daily scaling in and out of trades following more than one indicator and following the markets closely If you want to stay updated on the latest options trades for d companyname Benzinga Progives you real time options trades alerts

Some wines are so fine that they are considered investable similar to stocks and bonds Investors never open the bottle to taste Instead the rare quality stuff is simply kept and carefully stored while the price goes up As an alternative investment designed to diversify highly prized wine can make sense for the right kind of investor That’s why scam artists posing as experts sometimes succeed in fine wine “marketing” They know that this particular alternative investment has been providing good returns and they find interest when prospecting Casey Alexander is under arrest after authorities accused him and others of operating such a scheme and allegedly bilking customers out of millions of dollars according to an article in the Washington Post He is said to have worked for three companies – Windsor Jones Charles Winn and Vintage Whiskey Casks – where he and others cold called prospects sometimes using fake names and fake British accents At least 150 people lost more than 13 million dollars in the scheme which federal investigators say operated for 5 years The Post reports that “an unnamed 89 year old and a 73 year old from Michigan” were among those who were victimized Elderly people in particular were targeted in the scheme which the investigators claim used “deceptive and aggressive tactics” After the 89 year old reported it to police in Ohio the FBI entered the case which eventually led to arrests Alexander has been released on a 50000 bond according to court records The Post reports that he is described by victims as being “incessant and pushy” and is now prohibited from contacting them Securities regulators in the states of California Washington and Texas have sent “cease and desist” orders to Charlies Winn and its related companies prohibiting them from continuing to operate in those jurisdictions The case points up the attraction to this type of alternative investment as a way to diversify with an asset that has produced especially strong returns over the past year with the Liv ex Fine Wine 1000 showing 256 returns so far in the past 12 months Similar to certain kinds of expensive art the price trend of highly prized bottles of wine is closely watched by participants in those markets Such appealing returns make it possible for scam artists to find and sometimes convince unfortunate victims Investors new to this market can avoid similar scams by utilizing SEC regulated investment platforms such as Vint which sells securitized shares of valuable collections of wine and whiskey

BENGALURU Feb 25 Reuters Australia s central bank will raise interest rates for the first time in over a decade in the third quarter slightly earlier than thought a month ago according to a Reuters poll of economists who see rates by year end at 050 up from 025 previously Nearly every other central bank among its peers will have hiked rates from record lows by the end of March The Reserve Bank of New Zealand has already lifted them several times in the current cycle But the Reserve Bank of Australia RBA keeps waiting for signs of wage inflation before responding to broad inflationary pressures Underlying inflation in Australia which surged at its fastest annual pace since 2014 in the December quarter suggests that price growth was not as temporary and or as benign as had been predicted by the RBA read more Inflation will remain elevated for at least the first half of the yearthe RBA can t afford to be patient any longer said Wouter van Eijkelenburg an economist at Rabobank In the latest Feb 18 24 Reuters poll economists brought forward their rate hike expectations for a fourth straight month and expect the RBA to raise its key interest rate by 15 basis points to 025 in the July September quarter Seven of 28 economists forecast rates would go up to 050 and two expected them to reach 075 in the third quarter If realised that would bring borrowing costs back to their pre pandemic level More interest rate rises are on the way with the benchmark rate expected to reach at least 050 by the end of this year according to 21 of 28 economists and 125 by the end of 2023 the poll showed In the previous survey published last month rates were only expected to reach 10 by the end of next year Along with keeping rates at record lows to support an economy rocked by multiple lockdowns related to the pandemic the RBA has been aiming to drive unemployment to 4 or lower in the hope of reviving wage growth after years of sub par growth It is near to that goal Australian wages picked up to 23 in the last quarter as a rapidly tightening labour market drove intense competition for workers but annual growth was short of the 3 plus levels that policymakers say would justify a rise in interest rates read more The tightening labour market combined with rising inflation also suggests a rate rise is getting closer Governor Philip Lowe this month said it was plausible a hike could come later in the year should the economy recover as expected Money market traders are betting on a rate rise to 025 as early as June climbing to 150 by year end Among the major local banks CBA is tipping a first rise in June Westpac sees August ANZ says September and NAB November We don t completely rule out wages growthand GDP data showing sufficient momentum by Q1 to convince the RBA it should move sooner than our September expectation wrote David Plank head of Australian economics at ANZ But some analysts said there was another domestic reason why the RBA appears to be moving more slowly in tightening policy compared with its other central bank peers We expect the Bank to refrain from hiking ahead of the federal election in Mayand to start hiking in June in response to stubbornly high inflation wrote Marcel Thieliant senior Australia and New Zealand economist at Capital Economics Reporting by Vivek Mishra Polling by Devayani Sathyan Tushar Goenka and Md Manzer Hussain Editing by Ross Finley and Barbara Lewis

The CNN Money Fear and Greed index is slowly inching toward the greed zone but still remained in the neutral zone on Monday following a sharp rise in the US stocks on Friday The SP 500 and the Nasdaq recorded gains for fourth straight week with the recent gains coming from data showing a slower than projected increase in consumer prices and an unexpected decline in producer prices for July The SP 500 and Nasdaq notched their biggest weekly winning streaks since November After a volatile start to the year upbeat earnings results for the second quarter have provided support to US stock markets The Dow Jones gained around 424 points to close at 3376105 on Friday The SP 500 rose 173 while the Nasdaq Composite jumped 209 to settle at 1304719 in the previous session Investors are now awaiting earnings results from Li Auto Inc NASDAQLI Fabrinet NYSEFN and Tencent Music Entertainment Group NYSETME scheduled for release today At a current reading of 550 the index remained in the neutral zone on Monday following a previous reading of 530 What is CNN Business Fear Greed Index The Fear Greed Index is a measure of the current market sentiment It is based on the premise that higher fear exerts pressure on stock prices while higher greed has the opposite effect The index is calculated based on seven equal weighted indicators The index ranges from 0 to 100 where 0 represents maximum fear and 100 signals maximum greediness

Atlantic Equities raised the price target on Bristol Myers Squibb Company NYSEBMY from 83 to 87 Atlantic Equities analyst Steve Chesney maintained an Overweight rating on the stock Bristol Myers Squibb shares rose 63 to 7460 in pre market trading Wolfe Research boosted Zscaler Inc NASDAQZS price target from 204 to 211 Wolfe Research analyst Joshua Tilton maintained the stock with an Outperform rating Zscaler shares rose 05 to 18900 in pre market trading HC Wainwright Co increased Deciphera Pharmaceuticals Inc NASDAQDCPH price target from 20 to 25 HC Wainwright Co analyst Andrew Fein maintained a Buy rating on the stock Deciphera Pharmaceuticals shares rose 095 to close at 1808 on Friday Piper Sandler cut Carvana Co NYSECVNA price target from 98 to 73 Piper Sandler analyst Alexander Potter also upgraded the stock from Neutral to Overweight Carvana shares rose 71 to 3923 in pre market trading Deutsche Bank raised PayPal Holdings Inc NASDAQPYPL price target from 114 to 140 Deutsche Bank analyst Bryan Keane maintained the stock with a Buy PayPal rose 1 to 9722 in pre market trading Wedbush boosted Wingstop Inc NASDAQWING price target from 135 to 157 Wedbush analyst Nick Setyan maintained an Outperform rating on the stock Wingstop shares fell 16 to 14345 in pre market trading Check out this US Stock Futures Signal Higher Start On Wall Street Crude Oil Rises

TheSPDR SP 500NYSESPYis volatile Tuesday morning after the Labor Department reported a 6 year over year increase in theconsumer price index CPI for February What To KnowThe headlineCPIrose 6 in February downfrom 64 in January according todatathe Labor Department reported on TuesdayThe closely watchedinflation reading was in line average economist estimates On a month over month basis CPI was up 04 which was also in line withestimates Core CPI topped expectations on a month over month basis rising 05 against a 04 estimate Core inflation which excludes volatile food and energy prices was up 55last month matchingeconomist estimates The Labor Department said energy prices were up 52 year over year whilefood prices climbed 95 Why It Matters Theprint is likely another sign that the Federal Reservewill opt for a less aggressive rate hike at its next meeting later this month Chances for a more aggressive 05 hikesteadily climbed last week amidtheFed s semiannual Monetary Policy Report and hawkish comments from Fed ChairJerome Powellbeforea series of bank runs completely changed market expectations The biggest banking collapse since the 2008 financial crisis was spearheaded by a bank run onSVB Financial GroupNASDAQSIVB last weekand although customers will bemade whole theFederal Deposit Insurance Corporation FDIC shutdown the bank and placed it under receivership There is lingering uncertaintyaboutpotential contagion in the rest of the financial sector as a result of rapidly rising interest rates which has tiltedprojections back toward a 025 hike Related LinkWhy Silicon Valley Bank Collapsed A Simple Explainer Powell noted in hisexchange with Congresslast week that he planned to scrutinize Tuesday s CPI data and highlighted its importance We have not made any decision about the March meeting We re not going to do that until we see the additional data Powell said Tuesday s CPI print looks to be building a stronger case for those anticipating a 025 rate hike at most at the Fed s next meeting on March 22 SPY Price Action The SPY was up 051 at 38733at the time of writing according toBenzinga Pro Photo via Shutterstock

Cara Therapeutics Inc NASDAQCARA posted downbeat Q4 results Cara Therapeutics posted a Q4 loss of 056 per share versus market expectations of 032 per share The company’s quarterly sales came in at 326 million versus estimates of 1625 million Cara Therapeutics shares dropped 296 to 705 in pre market trading These analysts made changes to their price targets on Cara Therapeutics following the release of results HC Wainwright Co cut the price target on Cara Therapeutics from 25 to 20 HC Wainwright Co analyst Oren Livnat maintained a Buy rating Piper Sandler slashed the price target on Cara Therapeutics from 25 to 13 Piper Sandler analyst David Amsellem maintained an Overweight rating Needham lowered the price target on Cara Therapeutics from 26 to 22 Needham analyst Joseph Stringer maintained the stock with a Buy Read More 1M Bet On Domino s Pizza Check Out These 4 Stocks Insiders Are Buying

Parker Hannifin s NYSEPH short percent of float has risen 816 since its last report The company recently reported that it has 136 million shares sold short which is 106 of all regular shares that are available for trading Based on its trading volume it would take traders 19 days to cover their short positions on average Short interest is the number of shares that have been sold short but have not yet been covered or closed out Short selling 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 List of the most shorted stocks As you can see from the chart above the percentage of shares that are sold short for Parker Hannifin 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 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 Benzinga Pro Parker Hannifin s peer group average for short interest as a percentage of float is 255 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 This post by Benzinga Money explains how you can profit from it This article was generated by Benzinga s automated content engine and was reviewed by an editor

African American homeowners drew the lowest mortgage refinancing approval rate by lenders nationwide and also had the lowest number of applicants according to a study in a Bloomberg article published Friday Forty seven percent of black homeowners who completed a refinance application with Wells Fargo WFC in 2020 were approved compared with 72 of white homeowners according to an analysis of federal mortgage data by Bloomberg JPMorgan Chase Co JPM approved 81 of refinancing applications from black homeowners and 90 from white home owners Bank of America Corp BAC approved 66 of its black applicants and 78 of white applicants Rocket Mortgage LLC RKT OK d 79 of black applicants and 86 of white ones applicants Wells Fargo did not dispute the statistics reported by Bloomberg but said it treats all potential borrowers the same and it s more selective than other lenders Wells Fargo also said an internal review of its 2020 refinancing decisions confirmed that additional legitimate credit related factors were responsible for the differences Bloomberg reported

Shares of Kroger Co KR sank 086 to 5782 Monday on what proved to be an all around poor trading session for the stock market with the SP 500 Index SPX falling 002 to 439169 and Dow Jones Industrial Average DJIA falling 011 to 3441169 This was the stock s fifth consecutive day of losses Kroger Co closed 496 below its 52 week high 6278 which the company reached on April 8th The stock demonstrated a mixed performance when compared to some of its competitors Monday as Walmart Inc WMT fell 076 to 15588 Sprouts Farmers Market Inc SFM fell 190 to 3149 and Ingles Markets Inc Cl A IMKTA rose 045 to 9553 Trading volume 32 M remained 47 million below its 50 day average volume of 79 M Editor s Note This story was auto generated by Automated Insights an automation technology provider using data from Dow Jones and FactSet See our market data terms of use

SINGAPORE Singapore s consumer prices rose at a slower pace in October thanks to lower private transport costs and a moderation in core inflation The consumer price index climbed 67 in October from a year earlier the Department of Statistics said Wednesday That compared with the 75 rise posted in September and was below the median estimate for a 69 increase in a Wall Street Journal survey of five economists Housing and utilities costs which make up 2484 of the index increased 59 in October from a year earlier the data showed Food prices which have a 2110 weighting rose 71 while transportation costs which have an index weighting of 1707 climbed 155 Core CPI which strips out private road transport and accommodation costs rose 51 in October from a year earlier slowing from September s 53 increase The median estimate in the WSJ survey was for a 53 rise

Franchise Brands PLC said Thursday that it performed well in the third quarter driven by strong contributions from its two largest businesses and expects 2022 results to exceed current market expectations The multibrand franchise business said it expects to exceed market expectations for revenue adjusted earnings per share and adjusted earnings before interest taxes depreciation and amortization for the full year The company provided full year market expectations of 929 million pounds 1080 million for revenue GBP143 million for adjusted Ebitda and 731 pence for adjusted EPS The company said its Filta business in North America benefited from strong activity across all key customer sectors while Metro Rod in the UK continued strong momentum in system sales The business to business division is making good progress in integrating and streamlining operational delivery and developing sales opportunities though the business to consumer division is experiencing headwinds in franchise recruitment and retention Franchise Brands said The group is in a robust financial position to weather more challenging economic conditions and take advantage of future growth opportunities both in the UK and in the US I therefore look forward to the future with considerable confidence Executive Chairman Stephen Hemsley said Shares at 0708 GMT were up 50 pence or 33 at 1550 pence

Snap Inc SNAP shares are trading higher by 391 to 1198 Thursday afternoon despite a lack of company specific news from the session The stock may be seeing a rebound following a heavy tech selloff on Tuesday Snap shares were otherwise trading lower during Tuesday s session after August CPI data showed greater than expected US inflation Rising inflation could weigh on consumer spending while further Fed rate hikes could drive an economic slowdown and cause consumers to cut spending on discretionary items and subscriptions A recent rise US Treasury yields has also negatively impacted growth companies such that when interest rates otherwise rise the value of future cash flows is reduced for growth stocks which in turn lower the value of the stock See Also So Is Dogecoin Heading Back to 5 Cents Or Making A Run To 10 Cents Survey Says According to data from Benzinga Pro Snap has a 52 week high of 8334 and a 52 week low of 934

US stock futures rose suggesting major equity indexes could regain some ground Wednesday after selling off sharply in the previous session By early afternoon Wednesday in Hong Kong futures for the SP 500 had added 05 and those for the Dow Jones Industrial Average had increased 07 Contracts for the technology focused Nasdaq 100 ticked up 03 Major markets in Asia were mixed with benchmarks in Japan and South Korea falling more than 1 and Chinese indexes gaining On Tuesday the Nasdaq Composite recorded its largest one day percentage decline since September 2020 while the Dow dropped more than 800 points as investors digested earnings reports and weighed concerns about inflation the prospect of rapid policy tightening by the Federal Reserve and the spread of Covid 19 in China “Earnings growth in general is coming in fairly solid for the quarter but markets are mostly focused on some of the macro concerns around aggressive tighter Fed policy as well as this global growth scare that’s playing out” said Emily Roland co chief investment strategist at John Hancock Investment Management Many big companies are reporting earnings this week with results due on Wednesday from companies such as Facebook owner Meta Platforms and Ford Motor Twitter which this week agreed to sell itself for 44 billion to Elon Musk is set to report Thursday The yield on the 10 year US Treasury note was 2776 up slightly from Tuesday’s 2773 Investors have sold bonds in anticipation of higher interest rates and the yield on the benchmark note remains close to its highest level since 2018 Bond yields rise as prices fall In China the CSI 300 index of the largest stocks listed in Shanghai and Shenzhen rose 2 by early afternoon Wednesday recouping some of its recent losses In Hong Kong the Hang Seng Index was up 03 Chinese stocks on Monday suffered their biggest declines in more than two years as investors worried that the strict policies to combat Covid 19 would add to the pressures weighing on China’s economic growth and corporate profits The market remained under pressure Tuesday The offshore Chinese yuan gained about 01 with one dollar buying about 658 yuan The Chinese currency earlier this week hit its lowest level since late 2020 Investors expect China’s central bank to gradually ease policy in the coming months to support a slowing economy even as the Fed raises interest rates several times The yuan is likely to further weaken in this quarter and the following quarter as US and Chinese monetary policy diverge helping spur capital outflows said Ju Wang head of Greater China foreign exchange and rates strategy at BNP Paribas

Advent Technologies Holdings Inc Class A Common Stock s NASDAQADN short percent of float has fallen 135 since its last report The company recently reported that it has 424 million shares sold short which is 1615 of all regular shares that are available for trading Based on its trading volume it would take traders 85 days to cover their short positions on average Short interest is the number of shares that have been sold short but have not yet been covered or closed out Short selling 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 List of the most shorted stocks As you can see from the chart above the percentage of shares that are sold short for Advent Technologies Holdings Inc Class A Common Stock has declined since its last report This does not mean that the stock is going to rise in the near term but traders should be aware that less shares are being shorted Comparing Advent Technologies Holdings Inc Class A Common Stock s Short Interest Against Its Peers 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 Benzinga Pro Advent Technologies Holdings Inc Class A Common Stock s peer group average for short interest as a percentage of float is 775 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 This post by Benzinga Money explains how you can profit from it This article was generated by Benzinga s automated content engine and was reviewed by an editor

Australian dollars are seen in an illustration photo February 8 2018 REUTERSDaniel Munoz TOKYO Aug 15 Reuters The risk sensitive Australian and New Zealand dollars retreated from near two month highs against the greenback on Monday due to dissappointing data from China a key trading partner while the Chinese yuan weakened after a surprise cut in interest rates The greenback edged higher as traders continued to weigh data that has raised the possibility that US inflation may be peaking against Federal Reserve policymakers hawkish comments The US dollar index which gauges the currency against six major peers edged 007 higher to 10577 consolidating near the middle of its range this month The onshore yuan eased to a one week low against the dollar after the PBOC unexpectedly cut key interest rates It weakened to a low of 67620 per dollar compared with the previous close of 67430 read more New Zealand s kiwi slumped 035 to 06433 pulling away from Friday s high at 06468 the strongest level since June 8 The Australian dollar slid 027 to 07102 falling further away from the recent peak last Thursday when it struck it highest level since June 10 at 07136 Chinese industrial output retail sales and fixed asset investment all fell short of analyst estimates as a nascent recovery from COVID 19 lockdowns faltered To support the economy the People s Bank of China PBOC unexpectedly cut a key interest rate for the second time this year and withdrew some cash from the banking system on Monday The PBOC said it was lowering the rate on 400 billion yuan 5933 billion of one year medium term lending facility MLF loans to some financial institutions by 10 basis points bps to 275 from 285 It also injected 2 billion yuan through seven day reverse repos while cutting the borrowing cost by the same margin of 10 bps to 20 from 21 according to an online statement Despite the warning of inflation risk and flush liquidity conditions the dominant downside risks from the COVID spread and property sector rout prompted the PBOC to cut rates to stimulate demand said Ken Cheung chief Asian FX strategist at Mizuho Bank US data on Friday showing the first decline in import prices for seven months followed statistics earlier in the week that showed consumer and producer prices also cooling read more That has fueled investor hopes for less aggressive Fed tightening despite a continued chorus of hawkish Fed rhetoric with Richmond Fed President Thomas Barkin telling CNBC on Friday that he would like to see inflation running at the Fed s 2 target for some time before stopping rate hikes adding there s still more to come to get into restrictive territory Analysts will scour minutes of the Fed s most recent meeting due to be released on Wednesday for more clues on policymakers thinking while retail sales data on Friday will give some fresh insight on the economy s health A growing narrative of a soft landing has taken hold gaining traction after some easing in price indicators with some interpreting that as allowing the Fed to ease up on the pace of hikes Tapas Strickland a markets economist at National Australia Bank wrote in a client note The minutes are a risk though and may push back on the notion of a Fed pivot Strickland said Money markets now price 445 odds of another 75 basis point rate hike by the Federal Open Market Committee in September versus 555 probability of a slowing in the pace of tightening The euro eased 01 to 102455 weighed down by Europe s struggles with the war in Ukraine the hunt for non Russian energy sources and a hit to the German economy from scant rainfall Against the yen though the dollar sank 027 to 13324 amid an easing in US Treasury yields Leading cryptocurrencies bitcoin and ether rose back toward more than two month peaks Bitcoin last rose 2 to 24813 bringing it close to Sunday s high of 25053 a level not seen since June 13 Smaller rival ether gained 294 to 199370 approaching Sunday s peak of 203156 the highest since May 23 Ethereum s long awaited merge upgrade appears all but certain to happen in September promising a 9995 reduction in the blockchain s energy consumption and preparing it for faster transactions after years of delays

Nintendo Company Ltd s OTCNTDOY first quarter revenue and profit surged due to the success of The Legend of Zelda Tears of the Kingdom and The Super Mario Bros Movie Thursday s quarterly report shows a surge in sales increasing by 50 year on year to4613 billion yen 32 billion Additionally net profit grew521 amounting to 181 billion yen 12 billion The revenue figure beat a Refinitiv estimate of3954 billion yen in revenue and net profit beat the 10991 billion yen expected according to CNBC See AlsoNintendo Next Gen Console To Release In 2024 With A Surprising Screen Choice Report As part of the company s financial results report for the three months ending June 30 the Japanese company announcedthe latest title in the Zelda franchise has surpassed 1851 million units in sales since its launch on May 12 The game has also boosted the sales of the seven year old Switch console which sold 391 million units between April and June up by 139 on the year Software unit sales increased 261 year on year to 5221 million units Sell through of this one title constitutes approximately half of the first party software sold this fiscal year Nintendo said according to IGN Consumers who played the previous entry The Legend of Zelda Breath of the Wild have been the primary driver but as the weeks have passed we have seen that a growing percentage of purchases are being made by consumers who have not yet played that title Moreover Nintendo s latest blockbuster The Super Mario Bros Movie released April 5 has generatedglobal box office revenue of 1349 billion and has been viewed by 1681 million people as of July 30 This milestone makes it the highest grossing original film based on a video game and the second highest for an animated film The movie s popularity also had a positive impact on sales of Mario games like Mario Kart 8 Deluxe which sold an additional 167 million units during the quarter bringing the total sales to 5546 million units Read NextMario Creator Thanks Critics For Their Negative Reviews I Think They Contributed To The Movie s Notoriety Photo byCláudio Luiz Castro on Unsplash

Hapag Lloyd AG said Tuesday that it has reached an agreement to acquire the port terminal and logistics business of Chile s Sociedad Matriz SAAM SA comprising various assets in the Americas for a price of around 1 billion Under the agreement the German shipping giant will acquire SAAM Ports SA and SAAM Logistics SA as well as an associated real estate portfolio from Sociedad Matriz The ports business comprises terminals in Chile as well as other countries in South and Central America and the US state of Florida while the logistics business is concentrated at five ports in Chile Hapag Lloyd said The companies made consolidated earnings before interest taxes depreciation and amortization of around 115 million in 2021 Hapag Lloyd said Sociedad Matriz belongs to Quinenco SA which indirectly holds a stake of 30 in Hapag Lloyd the company said The acquisition is in line with a strategy to expand involvement in the terminal sector Hapag Lloyd said The purchase agreement that has today been signed will further strengthen Hapag Lloyd s business while building up a robust and attractive container terminal portfolio the company said The transaction is subject to conditions including antitrust approvals Hapag Lloyd said

If history is any guide there may be good fortune ahead for shares of Schlumberger NYSESLB A so called golden cross has formed on its chart and not surprisingly this could be bullish for the stockWhat To Know Many traders use moving average crossover systems to make their decisionsWhen a shorter term average price crosses above a longer term average price it could mean the stock is trending higher If the short term average price crosses below the long term average price it means the trend is lowerWhy It s Important The 50 day and the 200 day simple moving averages are commonly used The golden cross occurs when the 50 day crosses above the 200 day This could mean the long term trend is changingThat just happened with Schlumberger which is trading around 5247 at publication time Remember Seasoned investors don t blindly trade Golden CrossesInstead they use it as a signal to start looking for long positions based on other factors like price levels and company fundamentals eventsFor seasoned investors this is just a sign that it might be time to start considering possible long positions With that in mind take a look at Schlumberger s past and upcoming earnings expectations QuarterQ3 2022Q2 2022Q1 2022Q4 2021 EPS Estimate056039030034 EPS Actual063050034041 Revenue Estimate715B614B546B534B Revenue Actual748B677B596B622B Also consider this overview of Schlumberger analyst ratings Do you use the Golden Cross signal in your trading or investing Share this article with a friend if you found it helpfulThis article was generated by Benzinga s automated content engine and reviewed by an editor

Pason Systems Inc a provider of specialized data management systems for drilling rigs said it saw industry conditions steadily improve in the second quarter Jon Faber the company s president and chief executive said Pason delivered excellent operational and financial results again in the second quarter of 2022 adding that North American land drilling continued to steadily grow throughout the second quarter despite the effects of a short Canadian spring break up Mr Faber said macroeconomic conditions have become more challenging as central banks attempt to bring down high prevailing levels of inflation by raising interest rates while trying to avoid putting economies into recession He also said while the world is wrestling with a global energy crisis geopolitical instability has placed an increased focus and attention on where commodities are sourced Oil prices have become more volatile as traders weigh the implications of supply shortfalls against the potential demand impacts from an economic slowdown he added Despite that backdrop our outlook for continued steady growth in North American land drilling is based on a review of market fundamentals Mr Faber said Previous cycles saw high oil prices lead to significantly oversupplied markets he said In the current situation major sources of supply are below pre pandemic levels and trending lower US storage levels of crude oil and petroleum products are at levels last seen in 2008 Mr Faber said US land production remains almost 10 below pre pandemic levels and the inventory of drilled but uncompleted wells in the US has decreased for 24 consecutive months Mr Faber said Meeting global demand for oil which is similar to pre pandemic levels will require new drilling As a result we expect land drilling activity to steadily grow over the coming quarters he added

Traditional financial institutions could soon be allowed to offerBitcoin CRYPTO BTC and other crypto services in addition to regular banking functions What HappenedA new set offormal guidelinesreleased by the Federal Reserve could see crypto banks and traditional banks performing similar functions without having to classify itself as one or the other Under the guidelines the US central bank would let special purpose depository institutions SPDI like Wyoming basedCustodia andKraken open “master accounts” without the need for intermediary financial institutions See AlsoIn A First Cryptocurrency Exchange Gets US Banking Charter It noted that that firms offering “new types of financial products” or “novel charters” have grown in recent years and would now have access to these accounts offering by Federal Reserve banks What s Next The guidance will create a multi tiered system that will allow for the Fed to evaluate whether a firm should have access based on whether it falls under the Tier 1 Tier 2 or Tier 3 categories Crypto firms would largely fall under the Tier 3 category and may be subject to a regulatory framework that is “substantially different” fromthe one that applies to federally insured ones They will be subject to the strictest level of review the guidance stated The new guidelines provide a consistent and transparent process to evaluate requests for Federal Reserve accounts and access to payment services in order to support a safe inclusive and innovative payment system said Vice ChairLael Brainardin astatement See AlsoIs Bitcoin A Good Investment

If history is any guide there may be good fortune ahead for shares of Liberty Global NASDAQLBTYK A so called golden cross has formed on its chart and not surprisingly this could be bullish for the stock What To Know Many traders use moving average crossover systems to make their decisions When a shorter term average price crosses above a longer term average price it could mean the stock is trending higher If the short term average price crosses below the long term average price it means the trend is lower Why It s Important The 50 day and the 200 day simple moving averages are commonly used The golden cross occurs when the 50 day crosses above the 200 day This could mean the long term trend is changing That just happened with Liberty Global which is trading around 2168 at publication time Remember Seasoned investors don t blindly trade Golden Crosses Instead they use it as a signal to start looking for long positions based on other factors like price levels and company fundamentals events For seasoned investors this is just a sign that it might be time to start considering possible long positions TABLE Do you use the Golden Cross signal in your trading or investing Share this article with a friend if you found it helpful This article was generated by Benzinga s automated content engine and reviewed by an editor

LET S BRING IN CLIFF I KNOW YOU RE NOT SUPPOSED TO FIGHT A CENTRAL BANK BUT I M WONDERING HOW SUPPORTIVE OF THESE LATEST COMMENTS FROM THE PBOC FOR MARKETS RIGHT NOW CLIFF CHINA S ECONOMY IS ON A DIFFERENT FISCAL CLIFF COMPARED TO THE US CHINA CENTRAL BANKS TEND TO HAVE MORE FAVOR TOWARD POLICY EASING MAYBE IT WILL ALSO BE CUT AND MANDATORY TOOLS WILL BE USED ACCORDING TO THE PRESS RELEASE YESTERDAY THE CENTRAL BANKS VICE GOVERNOR HAS A MORE SUPPORTIVE TONE YVONNE YOU ARE SAYING THE WINDOW IS NOW IN THE FIRST HALF OF THIS YEAR FOR RE RATINGS WHAT AREAS DO YOU THINK WARRANT THAT RIGHT NOW CLIFF I THINK TO SECTORS MAY BENEFIT THE FIRST IS ESPECIALLY CHINESE PROPERTIES THE BIG DEVELOPERS HAVE A GOOD CONDITION TO ENJOY THAT RATING THEY HAVE SUFFERED BOUTS OF POLICIES HAVE INCREASED FROM THE BEGINNING OF THE YEAR AND WE BELIEVE THERE IS POTENTIAL TO REBOUND DAVID I JUST WANTED TO PUSH A LITTLE FURTHER ON THAT NOTE YOU MENTIONED THAT THE FINANCIALLY HEALTHY PROPERTY DEVELOPERS COUNTRY GARDEN IS ONE OF THE HIGHER RATED COMPANIES YET IT IS COMING UNDER SOME STRESS WHEN IT COMES TO REFINANCING SOME OF ITS DEBT WOULD YOU ADD ANOTHER FILTER TO DETERMINE WHICH OF THESE DEVELOPERS MIGHT BE A BETTER BUY THAN OTHERS CLIFF I THINK SOME STATE OWNED ENTERPRISES ON TOP OF THAT IT IS DONE BY LARGE PRIVATE FIRMS IT S COMPARATIVELY GOOD THEIR FINANCIAL POSITION COMPARED TO OTHER DISTRESSED COMPANIES THESE TWO KIND OF COMPANIES WILL BENEFIT DAVID I M LOOKING AT YOUR MARKET OUTLOOK FOR HONG KONG AND I HAVE TO SAY THE BENCHMARK IS QUITE WIDE BASICALLY SAYING IT COULD GO ANYWHERE DO YOU THINK THERE IS UPWARD OR DOWNSIDE BUY IN CLIFF I THINK HONG KONG IS TRADING AT A VERY ATTRACTIVE VARIATION COMPARED TO THE DOWNSIDE POTENTIAL IN THE EVALUATION RATING STAGE WE BELIEVE THE MARKET WILL TEND TO COME BACK TO 26000 IN THE SECOND HALF ESPECIALLY THE DOWNSTREAM COMPANIES THAT WILL BENEFIT FROM THE SPREAD SO THIS KIND OF GROWTH WILL DRIVE THE MARKET TO A HIGHER LEVEL YVONNE HOW CLOSE ARE WE WHEN IT COMES TO THE EARNING PICTURE LOOKING A LITTLE MORE FAVORABLE IS IT LIKELY TO BOTTOM SOON CLIFF YES WE BELIEVE EARNINGS WILL BOTTOM LATER IN THE YEAR ESPECIALLY WITH STABILIZING POLICY COMING OUT REGULARLY FOR THE NEW ECONOMY SECTORS IT MAY TAKE A LONGER TIME TO BOTTOM OUT SO MAYBE IN THE SECOND HALF WE BELIEVE IT WILL BE AROUND 10 GROWTH THIS YEAR

BENGALURU Jan 27 Reuters Indian metals to oil conglomerate Vedanta Ltd VDANNS reported a near 41 drop in third quarter profit on Friday hit by a fall in commodity prices The Anil Agarwal led firm s consolidated net profit fell to 2464 billion rupees 30233 million for the quarter ended Dec 31 from 4164 billion a year earlier Vedanta said in an exchange filing Analysts had on average expected a profit of 2067 billion rupees 25358 million according to Refinitiv IBES data Prices of zinc aluminium have fallen from their peaks by over 15 in 2022 from a year earlier while total expenses have surged 17 Vedanta said Vedanta s results continue to be impacted by the Indian government s windfall tax on crude oil For the December quarter the company logged a loss of 333 billion rupees due to the windfall tax even though the government had significantly cut levies The conglomerate s earnings before interest taxes depreciation and amortisation fell by 351 year on year The metals mining major s revenue was flat at 33691 billion rupees from a year ago Last week Hindustan Zinc HZNCNS owned by Vedanta Group reported a fall in quarterly profit hit by lower zinc prices and silver production

Aurora Cannabis Inc NASDAQACB TSXACBand MedReleaf Australia launched IndiMed Tempo 26 a range of new higher THC dried cannabis products for qualified patients under the MedReleaf Concession Scheme Tempo 26 will add to the portfolio of products available giving doctors the ability to prescribe from a wider range of options for medical cannabis patients We are proud to further expand the variety of high quality medical cannabis products that Australian patients can access through the MedReleaf Concession Scheme and with the addition of Tempo 26 doctors and patients now have more control and choice about their medical cannabis treatment than ever before stated Miguel Martin CEO of Aurora Cannabis We are strongly committed to our patient first approach to cannabis and ensuring access to medical patients in Australia and around the world The MedReleaf Concession Scheme was developed by MedReleaf Australia and Aurora to provide products and enhance patient access to medical cannabis which is not covered by the Pharmaceutical Benefits Scheme Through the MedReleaf Concession Scheme patients can access compassionate pricing specifically for those with Pensioner Concession Cards Commonwealth Seniors Health Cards Health Care Cards and Veterans Cards Aurora currently holds a 10 ownership stake in MedReleaf Australia a fully licensed private company Photo by Thiago Patriota on Unsplash Related News Aurora Repurchases 343M Of Convertible Notes Saving 19M In Annualized Interest Payments New Leaf Ventures Enters Into Genetics Supply Agreement With CannaPharmaRX Aurora Cannabis Files Preliminary Base Shelf Prospectus

Baozun’s newly purchased Gap Greater China operation will become the cornerstone for its new brand management unit The Alibaba backed company is looking for new growth venues as its core business as an e commerce tools provider stalls Baozun Inc BZUN a sort of “Shopify of China” raised eyebrows earlier this month when it announced it would acquire US clothing retailer Gap Inc’s GPS China business The move baffled many because the Chinese e commerce services provider has never managed a brand let alone one whose mainstay lies outside its traditional e commerce realm And Gap was hardly a winner at least not in China where it was battling years of declining profits and sales as it competed with a crowded field of slicker domestic and global rivals Baozun said it would acquire Gap Greater China for a meager primary consideration of 40 million or up to 50 million after adjustments That’s a tiny fraction of Gap’s own enterprise value of 1017 billion showing just how little it valued its China business As part of the deal Baozun which is backed by e commerce giant AlibabaBABA said it received exclusive rights to make and sell Gap’s products in Greater China for up to 20 years Investors were not impressed by the unusual marriage Baozun’s US listed shares fell 165 after the Nov 8 announcement while Gap fared only slightly better with a 73 drop Baozun’s shares have rallied since then and are now up 27 over pre announcement levels on broadly improving sentiment towards China stocks last week Gap’s decision to sell its Greater China business which includes the Chinese mainland Taiwan and Hong Kong comes as little surprise since it wasn’t going anywhere fast as the US company struggled with slumping sales worldwide The 53 year old American brand entered the Chinese mainland in 2010 with big hopes a few years behind global rivals Zara HM and Uniqlo Its next 12 years were marked by both achievements but more often setbacks Like many big retail brands Gap announced a lofty goal of opening 1000 shops across China when it entered the country But it never reached that mark It yanked its Old Navy chain from the market in 2020 just six years after the sub chain entered China at which point its brick and mortar store count began to shrink during the global pandemic Its mainland China store count has shriveled steadily since then falling from 200 in March last year to just 118 Gap stores now By comparison Uniqlo now has over 800 shops across the country Gap’s China financials weren’t pretty either Its mainland entity being acquired by Baozun logged a post tax net loss of 256 million yuan 3534 million in 2021 while the Taiwan unit lost T1998 million 624 million on a similar basis for its financial year through Jan 29 2022 As its situation in China and globally worsened Gap reportedly reached out to potential suitors as early as March last year to gauge interest for its China business By spinning off the Greater China unit to a local owner the brand could continue to maintain a presence in the world’s second biggest economy without having to directly bear the financial stress That approach has also been used in China by other struggling global brands like Carrefour and Tesco So who exactly is Baozun which is hardly a household name globally or even in China As a provider of software tools for e commerce companies Baozun has been Gap’s e commerce service partner in China since December 2018 In the process of working together Baozun has presumably acquired a great deal of first hand data on Gap’s local operations that could help with the brand’s revival Baozun has also been looking for new opportunities as growth as its own core business slows Founded in 2007 in Shanghai Baozun helps international and domestic e commerce merchants set up China stores by providing a wide range of back end services they need to operate The company was traditionally closely tied to Alibaba’s Tmall where many major global brands operate flagship online China stores It counts big names as its clients such as Philips Nike Microsoft and Starbucks Following years of rapid growth Baozun listed on Nasdaq in 2015 with Alibaba as its biggest single shareholder It made a second listing in Hong Kong in 2020 to expand its investor base and liquidity But after years of expansion the company’s growth has slowed sharply as China’s economy slows and the e commerce market matures Reflecting that Alibaba posted its first ever revenue decline in its reporting quarter through June this year while rival JDcom also recorded its slowest growth Baozun’s own performance has stumbled in line with the broader sector Its revenue fell 51 year on year in the first half of the year as it swung to a net loss from a profit over the same period Baozun has been gearing up for the challenge as its business slowed It made several diversification moves last year to broaden its portfolio including its acquisition of brand management consultant Full Jet and its formation of a strategic alliance with financial conglomerate Fosun’s luxury arm now known as Lanvin Group It also acquired eFashion China another e commerce services provider to widen its reach in the branded fashion sector Signaling its intent to diversify beyond its original business Baozun announced the establishment of a new business unit Baozun Brand Management BBM at the same time as its Gap purchase saying the unit would “engage in longer and deeper relationships with brands” It noted the Gap acquisition marked “a significant step in developing BBM” Managing its own brick and mortar shops for the first time will come as a definite change of pace for Baozun and it remains to be seen if it can succeed where the US retailing giant struggled After all Gap is facing its own identity crisis in China seen as neither a luxury brand nor a value for money among local consumers And in the world of fast fashion Gap’s unchanging American casual style of products like hoodies emblazoned with a big Gap logo and stripe patterns are now deemed outmoded by increasingly sophisticated Chinese shoppers Gap isn’t alone in facing headwinds in China In March last year HM closed about 20 stores in the country after a controversy erupted over the brand’s boycott of Xinjiang cotton It closed 60 outlets in the country by the end of the year accounting for 12 of its total and this year it closed its 15 year old first Chinese store in Shanghai Analysts have noted the closures were more about fierce competition than other factors In July this year Zara’s trio of Bershka PullBear and Stradivarius all shut their Tmall flagship stores and left China Apparel giants Nike and Adidas have also lost momentum in China to native brands Li Ning and Anta Sports That said perhaps Baozun can use its e commerce expertise to turn things around for Gap in China The tired Fila name did something similar after being acquired in 2009 by Anta which repositioned it as a high end sports fashion brand

Someone with a lot of money to spend has taken a bearish stance on Accenture NYSEACN And retail traders should know We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga Whether this is an institution or just a wealthy individual we don t know But when something this big happens with ACN it often means somebody knows something is about to happen Today Benzinga s options scanner spotted 12 options trades for Accenture This isn t normal The overall sentiment of these big money traders is split between 16 bullish and 83 bearish Out of all of the options we uncovered 11 are puts for a total amount of 719560 and there was 1 call for a total amount of 35840 What s The Price Target Taking into account the Volume and Open Interest on these contracts it appears that whales have been targeting a price range from 2400 to 2650 for Accenture over the last 3 months Volume Open Interest Development Looking at the volume and open interest is a powerful move while trading options This data can help you track the liquidity and interest for Accenture s options for a given strike price Below we can observe the evolution of the volume and open interest of calls and puts respectively for all of Accenture s whale trades within a strike price range from 2400 to 2650 in the last 30 days Accenture Option Volume And Open Interest Over Last 30 Days Biggest Options Spotted Symbol PUTCALL Trade Type Sentiment Exp Date Strike Price Total Trade Price Open Interest Volume ACN PUT SWEEP BEARISH 081823 24500 1350K 260 0 ACN PUT SWEEP BULLISH 111723 24000 1080K 270 150 ACN PUT SWEEP BEARISH 072123 25500 868K 34 101 ACN PUT TRADE BEARISH 052623 26000 720K 27 400 ACN PUT TRADE BEARISH 052623 26000 600K 27 200 Where Is Accenture Standing Right Now With a volume of 280388 the price of ACN is down 056 at 26332 RSI indicators hint that the underlying stock may be oversold Next earnings are expected to be released in 44 days What The Experts Say On Accenture Citigroup has decided to maintain their Buy rating on Accenture which currently sits at a price target of 306 Options are a riskier asset compared to just trading the stock but they have higher profit potential Serious options traders manage this risk by educating themselves daily scaling in and out of trades following more than one indicator and following the markets closely If you want to stay updated on the latest options trades for Accenture Benzinga Pro gives you real time options trades alerts

US stock futures soared Wednesday morning following the release of July inflation data which showed price pressures easing by a wider margin than economists had anticipated SP 500 futures were up 66 points or 16 to 4188 while futures for the Dow Jones Industrial Average DJIA were up 407 points or 12 to 33144 Nasdaq 100 futures were up 304 points or 24 to 13340 The data also spurred a drop in Treasury yields with the 2 year yield dropping 18 points to 3075 while the 10 year yield was down 10 points at 2695 While the two year yield remained higher than the 10 year yield after the data the depth of the inversion narrowed somewhat The ICE US Dollar Index DXY was down 04 after the data while gold prices were also down 03 The headline CPI number for July came in at 85 compared with 87 expected by economists polled by FactSet and the 91 reading from June which had marked the highest pace of inflation in four decades Traders of interest rate derivatives now see a 50 basis point rate hike as the most likely outcome during the Federal Reserve s September policy meeting according to the CME s FedWatch tool As of yesterday odds had been slanted in favor of a 75 basis point hike following Friday s surprisingly hot jobs report

CC may contain inaccuracies I expect that we will raise rates a few more times this year My policy gets a little more work to do I currently favor a 25 basis point increase at the FOMC His next meeting takes have 25 basis points will be appropriate going forward I expect to continue tightening policy passed this meeting The Fed is going to have to maintain rates at high enough levels Policy is going to need to remain sufficiently restrictive for some time now at some point this year I expect that the policy rate will be restrictive enough that we will hold rates in place just hold them in place to let monetary policy do its work We call on if necessary should adjust our overall policy strategy to keep financial conditions restrictive even as the faceless Recent comments there from Fed officials on the outlook for rate hikes on this next guest says a Fed rate cut in 2023 is unlikely Let s bring in ISE market analyst TV Chan Thanks for joining us We heard those Fed speak as they are fairly unambiguous really when it comes to the path of rates in 2023 But we see some interesting price action on the equities markets in particular We had a little mini rally in all the major US indexes on Friday afternoon So is the market correctly pricing in this Fed rhetoric or is that all more optimism than realism at the moment Well ISE my view is that I think the market definitely kind of showed a strong appetite for a bull market with either for the fact that they are projecting a rate cut by the end of this year or in terms of like a bit biased view that just focus on the positive view rather than underplay or downplaying the fundamental shortcomings we re taking that s taking the methods forward One of the typical example is seeing the defense trade price jumping up of 8 percent because the ship holders are set up waiting for an actual bid and expect a subscription number while they kind of purposely downplaying the fact that week ending is actually one of the weakest in company s history It s only one so for the projection number So for me I think it looks like there s a bit of a cautious sign that the strong appetite for bull market has kind of shaping the market s view to taking into more of the taking the bet news as good news While the good news still good news and coming back to the Fed s record which I m expecting there will be something happening by the end of this year But I think you re probably too early to call every record because of all the hands of the Fed Those have more cash to play They could potentially keep unchanged and feel that we seeing kind of material signs of inflation too cooling down at this time of year I think inflation wise there s more factors Hasn t been yet to price in We already see some easing side That s right But towards the year would potentially we re seeing that China s opening will push up the demand and push up inflation We see the Japanese coming to have a quite efficient way And also the weaker US dollars Well they are the uncertainty that will be underpinning the Fed s decisions to declare the first rate cut rate cut I want to return to your thoughts on China in just a moment But in terms of the US I mean we have seen the S P fall below its 200 day moving average Do you feel that there is a risk we can test 50 days Well yeah definitely As I said if you re looking for the past three weeks time the S P 500 has been up about 4 percent And there is a level that we often seen for the bull market and doesn t necessarily match what we have been projecting or what is the fundamental picture that we put paper to talk you to destroy So for that again I think back to my point I think the market is trying to downplay the fundamental shortcoming for the early year of the of the took for the early days of the 2020 story There s a bit of the overly optimistic there So again I think it s quite possible that we re seeing kind of a retest And there the optimism will come into a real test where we see a more economy follow mental pictures that has surface Of course there was a lot of enthusiasm around the China reopening that the bumps in the road of getting out of Covid zero policy not withstanding but is that reopening trade starting to look a little tired to you Well first of all I agree with that China s reopening is definitely one of the major positive academies for 2010 history But while I d be cautious about is that what I see the market price action now as you push touch on before that the Chinese in their 20s stock has jumped about 50 percent in three months time for my view I think there s a bit of the overdo and it s a bit of the overpriced in an optimistic about what the recovery could do While that we know China s been struggling is still struggling was probably one of the worst actually Wait And putting aside that if we turning back the clock back into 2019 if someone telling you that China s economy going to grow at 4 percent and population will stop growing that you put it not the positive but this will happen in the market now And one last factor which I m also always cautious about is that the major issues for China s economy the property crisis the credit crisis the manufacturing crisis all not the issues can be easily fixed by the re opening So I m positive for the Chinese re opening but I just think the markets move a bit far away to advise at this stage And how about commodities that trade around the China reopening How are they looking to you at the moment in terms of price action Well I m mostly for only the gold price because we can see the gold prices coming to the highest levels in eight months in nine months time and surpass the nineteen hundred and that is being quietly boosted by the supply and demand mechanic Especially we re seeing that for example the BBC the People s Bank of China has been increased their gold reserves for the fourth quarter times and past the powerful China We re seeing the other central banks globally wise that we re seeing that has been coming to the level that we haven t seen since 1988 So 1960s So this a kind of happening is always a weaker US dollars The central banks trying to play down US dollars while they increase their appetite for the precious go So if that is the it s that we are expecting the US dollar will continue to weakening towards the end of this year Of course we can expect more of a demand for the gold price

International stocks trading in New York closed higher on Friday The SPBNY Mellon index of American depositary receipts gained 13 to 16707 The European index edged up 1 to 15250 The Asian index rose 19 to 21377 The Latin American index ticked up 03 to 20076 while the emerging markets index moved up 22 to 35528 Akari Therapeutics Plc was among those whose ADRs traded actively The clinical stage biopharmaceutical company was up 98 after the company announced that its chief executive will present a company overview at the BIO CEO Investor Conference on Tuesday British American Tobacco plc rose 4 after the company said pretax profit rose and launched a buyback program in its full year 2021 results

A whale with a lot of money to spend has taken a noticeably bearish stance on Walt Disney Looking at options history for Walt Disney NYSEDIS we detected 25 strange trades If we consider the specifics of each trade it is accurate to state that 28 of the investors opened trades with bullish expectations and 72 with bearish From the overall spotted trades 18 are puts for a total amount of 1135678 and 7 calls for a total amount of 1709269 What s The Price Target Taking into account the Volume and Open Interest on these contracts it appears that whales have been targeting a price range from 940 to 1050 for Walt Disney over the last 3 months Volume Open Interest Development In terms of liquidity and interest the mean open interest for Walt Disney options trades today is 437736 with a total volume of 647400 In the following chart we are able to follow the development of volume and open interest of call and put options for Walt Disney s big money trades within a strike price range of 940 to 1050 over the last 30 days Walt Disney Option Volume And Open Interest Over Last 30 Days Biggest Options Spotted Symbol PUTCALL Trade Type Sentiment Exp Date Strike Price Total Trade Price Open Interest Volume DIS CALL TRADE BEARISH 062124 10000 13M 11K 914 DIS PUT TRADE BULLISH 051223 10000 2000K 517 11K DIS PUT SWEEP BEARISH 072123 9500 1557K 53K 10K DIS PUT SWEEP BULLISH 050523 10200 1171K 724 128 DIS PUT SWEEP BEARISH 072123 9500 1099K 53K 18 Where Is Walt Disney Standing Right Now With a volume of 2845210 the price of DIS is down 081 at 10167 RSI indicators hint that the underlying stock may be approaching overbought Next earnings are expected to be released in 9 days What The Experts Say On Walt Disney Guggenheim has decided to maintain their Buy rating on Walt Disney which currently sits at a price target of 130 Deutsche Bank has decided to maintain their Buy rating on Walt Disney which currently sits at a price target of 135 Barclays has decided to maintain their Equal Weight rating on Walt Disney which currently sits at a price target of 107 Wells Fargo has decided to maintain their Overweight rating on Walt Disney which currently sits at a price target of 147 Options are a riskier asset compared to just trading the stock but they have higher profit potential Serious options traders manage this risk by educating themselves daily scaling in and out of trades following more than one indicator and following the markets closely If you want to stay updated on the latest options trades for Walt Disney Benzinga Pro gives you real time options trades alerts

A Russian one rouble coin is seen in this picture illustration taken April 5 2022 REUTERSMaxim ShemetovIllustration April 20 Reuters The Russian rouble firmed towards 78 to the dollar in early trade on Wednesday while stock indexes extended losses as the market watched developments around Ukraine and sanctions against Russia Russia faces soaring inflation and capital flight while grappling with a possible debt default after the West imposed harsh sanctions against Moscow for sending tens of thousands of troops into Ukraine on Feb 24 As of 0729 GMT the rouble gained 05 to 7815 to the dollar hovering near levels seen before Feb 24 Against the euro the rouble added 03 to 8383 heading away from an all time low of 13241 it hit on the Moscow Exchange on March 10 Movements in the rouble are artificially limited by capital controls that Russia imposed in late February On Tuesday the central bank slightly relaxed capital controls for export focused companies outside the commodities and energy sectors extending the deadline by which they need to convert foreign currency to roubles to 60 days from three days read more The central bank move could result in a slight decline in market activity but excessive FX supply remains in place and the rouble can firm past 78 to the dollar Promsvyazbank analysts said in a note The rouble will also see support from tax payments as companies are due to pay a record 3 trillion roubles 3740 billion in taxes this month for which some export focused companies need to sell foreign currency according to analysts surveyed by Reuters Russian stock indexes were down lacking positive news and trading ideas The dollar denominated RTS index IRTS shed 12 to 9202 points The rouble based MOEX Russian index IMOEX was 15 lower at 22832 points

The general increase in risk appetite has proved healthy for cryptocurrencies and most of these digital currencies have turned the corner since late 2022 What’s Driving Crypto RevivalThe cryptocurrency space went through a torrid phase in 2022 stung by the risk aversion of investors and segment specific issues such as the collapse of LunaCRYPTO LUNA and the implosion of cryptocurrency exchange FTX whose native token is FTTCRYPTO FTT The beaten down nature of most cryptos is likely to have triggered bargain hunting related buying Hopes of a Fed pause which has been the thesis behind the stock market revival appear to be working for cryptocurrencies as well The central bank has been aggressive in the rate tightening cycle Since March 2022 the Fedfundsrate has been increased by 25 basis points twice 50 basis points twice and by a steeper 75 basis points four times Lower interest rates could kickstart economic growth to levels that could buoy the risk appetite of investors Bitcoin’s Resurgence Bitcoin CRYPTO BTC which is the apex crypto with a market cap of 47853 billion wasn’t immune to the downturn either After peaking at 6878963 on Nov 10 2021 the crypto headed southward and was down for most of 2022 Last year alone Bitcoin lost 643 although it ended the year off the low of 1559905 reached on Nov 21 2022 As 2023 dawned buyers returned to the cryptocurrency market Capitalizing on the change in sentiment Bitcoin breached the 20000 mark in mid January On Sunday the crypto rose above the 25000 mark for the first time since mid August 2022 So far this year Bitcoin has gained about 50 See also How To Trade Cryptocurrency Chart Via Benzinga Pro Doge On A Sprint Meme crypto Dogecoin CRYPTO DOGE a crypto investor favorite peaked well ahead of the rest of the cryptos While a few shun Doge as a joke coin with no intrinsic value the interest in it is evident from the results of a recent survey by digital media company Cryptomeistercom Doge is the third most searched cryptocurrency in the US after Bitcoin and Ethereum CRYPTO ETH The firm attributed the strong interest to the popularity the doge themed currency gained in the wake of tweets and endorsements by high profile figures such as Elon Musk the CEO of Tesla Following Musk’s “Saturday Night Live” appearance on May 7 Doge hit its record high of 0737567 In 2022 it bottomed at 0049720 on June 18 and has nearly doubled since then Bitcoin Vs Doge Matchup A 1000 investment in Bitcoin at Monday’s closing price of 2482915 would fetch 0040 Bitcoin If the apex crypto retests its record high the same 0040 Bitcoin would be worth about 2770 a 177 return Similarly 1000 invested in Doge’s closing price of 0088208 would fetch 11337 Dogecoin If the meme crypto were to scale its May 2021 high the 11337 Dogecoin would be worth 8362 a potential return of roughly 736 Price MovesAt last check Bitcoin traded up 238 at 2509523 and Dogecoin edged up 001 to 0088179 according todata from Benzinga Pro Read nextShiba Inu Climbs To Key Resistance After Breaking Out Of Consolidation Range What You Should Know

Thursday Market Open You could almost hear the sigh of relief this morning as the market digested October’s benign consumer inflation data Stocks immediately roared higher and Treasury yields plunged after the Consumer Price Index CPI release It’s hard to remember monthly CPI report ever getting this kind of a reception But that’s to be expected with numbers like these Headline consumer prices showed a 04 rise from September equal to September’s rise Before the announcement Wall Street analysts had expected Headline CPI to accelerate to 07 Core CPI rose 03 month over month down from 06 in September and compared with estimates for 05 Annual inflation slowed to 77 from 82 in September Analysts had expected 79 Several goods and services categories actually fell in price sequentially including used cars and trucks medical care and apparel The drop in apparel prices likely reflects big discounts as stores try to clear swollen inventory Used car and truck prices had climbed meteorically earlier this year Although food prices still rose 06 in October that was slower than 08 in September a sign of progress Notably and on the negative side shelter costs grew faster in October Overall it was a pretty good report as you can tell by the market reaction Stock index futures rose nearly 3 ahead of the opening bell and the 10 year Treasury yield fell a dramatic 23 basis points all the way down to 39 It had been up around 42 a few days ago It’s good to see some negative sequential category numbers in the report and the focus should remain on sequential data in months to come For the Federal Reserve this report could show some vindication that its climbing rates are having an impact though knowing the Fed it wants to see more than a single report Speaking of the Fed there was an immediate impact on expectations for rate policy for the next Federal Open Market Committee meeting December 13 14 The CME FedWatch Tool now shows a 75 chance of just a 50 basis point hike in December up from 57 yesterday Chances of a fifth consecutive 75 basis point hike dropped to 24 from 43 Chances were evenly divided between 50 and 75 after the Fed’s meeting last week and Fed Chairman Jerome Powell’s hawkish comments in the press conference afterward Every SP 500 sector declined yesterday but the SP 500® Index SPX began Thursday about flat for the week “Old economy” sectors like industrials materials and consumer staples leadthis week’s scoreboard so far with consumer discretionary and information technology bringing up the rear The government is auctioning off 21 billion in 30 year Treasury bonds early this afternoon so keep an eye on long term yields in the hours following that Weakness in demand for that fresh supply could indicate investors believe rates have more climbing to do However some analysts believe bond yields may be close to peaking Overseas China re committed to its “zero COVID” policy earlier today That could be a hindrance for US companies with lots of exposure over there including the mega caps semiconductors agricultural equipment companies and large auto makers Closer to home the vote count continues after Tuesday’s election Divided government in Washington appears likely though media reports say final House and Senate numbers may not be known for a while As the “red wave” that some had expected didn’t materialize the party split in Congress is getting close to even That implies the market could get what it wants—gridlock So companies may not have to worry about major new tax spending or regulatory changes Even with results still uncertain in Washington the digital asset story took center stage late yesterday as media reports spread of a collapsing mega merger between the largest crypto exchanges Even though most investments aren’t tied to this particularly volatile alternative asset crypto has a way of cooling most risk taking appetites when it takes a tumble Stocks tumbled sharply as investors digested the digital dive and anxiously awaited today’s inflation data After an already tumultuous week for the cryptocurrency industry Binance announced after the close it was pulling out of a deal struck just yesterday to buy struggling competitor FTX Binance attributed the decision to due diligence issues and reports “regarding mishandled customer funds and alleged US agency investigations” The news took both digital currencies and publicly traded companies lower during the session Near the close bitcoin slid close to 16000 a two year low while the solana token lost another 40 after finishing down more than 26 on Tuesday It’s important to keep this in perspective however While the crypto pullback that began yesterday and continued today may have summoned fears of “contagion risk”—meaning an impact on broader markets—any contagion would likely spread only to the riskier parts of the market That’s why companies perceived as especially risky including those related to crypto and even some of the unprofitable “meta” stocks that rallied last year take it on the chin when risk off sentiment grows Bitcoin rallied early Thursday to 17400 up 55 but keep an eye on crypto today for any potential impact on the overall market It did contribute quite a lot to yesterday’s Wall Street sell off If crypto starts to sag it might be interesting to see how the stock market reacts today The Dow Jones Industrial Average® DJI crumbled 64689 or 195 to 3251394 The Nasdaq® COMP fell 263 or 248 to 1035317 The SPX eased 7954 points or 208 to 374857 Stock in the Spotlight—Under the Hood at Tesla You need to go back nearly an entire election cycle—to early 2021—if you want to know the last time Tesla TSLA shares traded this low The electric carmaker’s stock fell below 190 this week and is off more than 55 from its all time peak posted in January Competition at home and abroad worries about CEO Elon Musk’s purchase of Twitter TWTR production problems in China and slower than expected deliveries all dog the company Those TWTR worries recharged Wednesday on the news that Musk had sold nearly 4 billion in TSLA shares Despite the steep sell off shares remain about 17 times above their 2019 levels and the forward price earnings PE ratio is somewhere above 50 historically high for a carmaker Shares of Ford F and General Motors GM have PEs in the 5 6 range and neither has idled on electric car offerings From a technical perspective things don’t look great either TSLA recently suffered the breakdown of a “head and shoulders” pattern in the charts Investor’s Business Daily noted Tuesday which could signal a bumpier road ahead Can things get worse TSLA Q4 delivery results early next year will be eagerly awaited for clues TSLA production is up 49 year over year through the first three quarters but deliveries sales are up just 40 That divergence widened in Q3 implying its logistical challenges continue Crypto contagion More like goodbye TINA It’s no stretch to say this has been a rough week in the world of crypto Whether—and how much—the fallout spreads to the traditional world of finance remains to be seen Sure some venture capital and private equity investors might take a hit And if crypto investors need to scramble to raise cash they might need to sell hard assets such as stocks sports cars and maybe houses But remember Crypto isn’t nearly as systemic as the asset crunch that led to the global financial crisis in 2008 Plus a study last year by the Pew Research Center said only 16 of US adults had ever traded or invested in crypto and those who did tended to skew toward younger folks with few assets outside crypto This week’s crypto shakeout seems to point to a larger trend The recent rise in interest rates has been a game changer for borrowers and investors In a zero interest world a company with big dreams but no profits could find access to cheap capital And with few avenues to grab decent yield in fixed income the rallying cry became “there is no alternative” TINA to some of these risky unproven investments including those in the cryptoAIWeb 30 metaverse With Treasury yields firmly above 4 it’s more like “here is an alternative” HIAA Risk on Risk off Yesterday’s sell off in the wake of the US election and troubles in crypto sent a major “risk off” signal This included dramatic losses among stocks exposed to crypto and also a drop in the chip industry which stumbled Wednesday after climbing Tuesday to the strongest close in a month The mega caps also stepped back Wednesday frequently a sign that investors are ducking away from big bets on stocks Meanwhile bond prices crept higher and the US Dollar Index DXY moved back above 110 When investors seek less exposure to volatile and aggressive parts of the market they often gravitate toward bonds and the dollar Within the stock market utilities real estate and health care—all known as “defensive sectors”—led the way Wednesday It’s only one day of course and not a trend And like a turtle maybe investors wanted to climb back under their shells as voting totals kept coming in and they awaited Thursday’s inflation data Still it could be interesting to see if this trend continues One benchmark to watch is 3800 in the SPX which is an area the market has struggled to hold Also keep an eye on more risky parts of the market like chips and biotechs see chart above to see if the recent bump there can resume Consumer speak your piece Thursday’s data calendar put inflation into the spotlight but Friday morning will bring more insight on how consumers are dealing with higher prices when the University of Michigan’s Preliminary November Sentiment data hits the wire Surprisingly consumers have held up relatively well despite all the economy’s slings and arrows this year according to recent data Analysts expect tomorrow’s report to show more of the same The headline figure is expected to be 596 according to analyst consensus collected by Briefingcom just a sliver below October’s 599 While the headline number gets well the headlines it’s the inflation expectations data that investors might want to watch It fell to 5 in October for the year ahead down from the previous 51 Both bullish investors and the Federal Reserve doubtless want to see this continue declining because as Fed Chairman Jerome Powell has said the real concern is that inflation expectations become entrenched When this happens it can set up a scary wage price inflation cycle where one drives the other upward Nov 15 October Producer Price Index PPI November Empire State Manufacturing and expected earnings from Home Depot HD and Walmart WMT Nov 16 October Retail Sales and Industrial Production and expected earnings from Lowe’s LOW and Target TGT Nov 17 October Housing Starts and Building Permits November Philadelphia Fed Index and expected earnings from Ali Baba BABA Kohl’s KSS and Macy’s M Nov 18 October Existing Home Sales and expected earnings from Foot Locker FL and JDcom JD Nov 22 Expected earnings from Best Buy BBY Autodesk ADSK Dick’s Sporting Goods DKS Dollar Tree DLTR Medtronic MDT and Baidu BIDU This post contains sponsored advertising content This content is for informational purposes only and not intended to be investing advice

Shares of Chinese restaurant operators extended steep losses in late Monday trade as the spread of Covid 19 and tighter movement curbs stoke investor concerns toward the sector Haidilao International Holding Ltd slumped as much as 11 while Jiumaojiu International Holdings Ltd fell by up to 12 Xiabuxiabu Catering Management China Holdings Co plunged 84 The selloff comes as China continues to post record high infection numbers New cases have repeatedly hit new peaks since last Monday s daily tally topped the measure from the initial outbreak in Wuhan in early 2020 making the current resurgence the country s worst outbreak in more than two years Shanghai remains under a sweeping lockdown while several other major cities tightened movement curbs over the weekend The southern business hub of Guangzhou has asked residents not to leave the city from Monday onward for non urgent matters and said departing travellers need to present a negative result from a Covid 19 test taken within 48 hours The central city of Wuhan has also started requesting negative test results for public transportation These cities with large populations and geographic sizes contribute a significant portion of the three restaurant operators total sales We suggest a wait and see approach as uncertainty over China s outbreak continues Bocom International analyst Edward Lui said in a research note on Monday about China s consumer sector However undemanding valuations lead many analysts to keep their buy calls on the sector s major stocks Mr Lui has a buy call on Jiumaojiu while Daiwa analysts Adrian Chan and Sybil Hu rate Xiabuxiabu as buy Late last month Citi analyst Xiaopo Wei upgraded Haidilao to buy from neutral We believe its current valuation has well reflected market fears about its earnings uncertainty the Citi analyst said in the research note

In accordance with the authorization given by the ordinary shareholders general meeting on May 25 2022 to trade on its shares and pursuant to applicable law on share repurchase TotalEnergies SE LEI 529900S21EQ1BO4ESM68 ParisTTE LSETTE NYSETTE declares the following purchases of its own shares FR0000120271 from November 28 to December 2 2022 In accordance with Article 51b of Regulation EU No 5962014 the Market Abuse Regulation a full breakdown of the individual trades are disclosed on the TotalEnergies website httpstotalenergiescominvestorsshares and dividendstotal sharesinfocompany share transactions TotalEnergies is a global multi energy company that produces and markets energies oil and biofuels natural gas and green gases renewables and electricity Our more than 100000 employees are committed to energy that is ever more affordable cleaner more reliable and accessible to as many people as possible Active in more than 130 countries TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well being of people

Article by Lucía Tedesco via El Planteo Bowlmates is the new free social network for marijuana lovers promoted by the humorous duo Cheech and Chong together with the Ear2Ground platform The premise of this initiative is to connect all those who want to share their experiences and knowledge about marijuana Social networks such as Instagram or TikTok usually remove explicit content about marijuana However with the launch of Bowlmates there is no longer any need to fear posting marijuana content See AlsoCheech Chong Partner With Nature s Medicines To Launch Exclusive Cannabis Products With other social media platforms censoring cannabis posts and content it was time to build our own community that is inclusive to all cannabis enthusiasts and content without fear of unwanted and undue censorship said Jonathan Black CEO of the network according to Accesswire What Does Cheech And Chong s Marijuana Social Network Propose This network offers exclusive content live streams and the ability to interact with the duo in various activities the rewards of which are digital tokens These can be exchanged for authorized products souvenirs and virtual or in person events Of course the pioneers of cannabis culture celebrated the launch of Bowlmates We ve been spreading love and connecting people through our films albums and live shows for decades Creating a place online where we can continue that mission has been a long time coming expressed Tommy Chong See AlsoCounter Culture Icon Tommy Chong On Why He Embraces The Corporatization Of Weed The New Face Of Cannabis Is Old Ladies Taking It To Sleep It s true Finally a place where we can come together on a deeper level with peers from all over the world added Cheech Marin Más contenido de El Planteo en español Cannabis Sativa Cómo Difiere del Cannabis Índica Crema de Cannabis una Guía Completa CBD para la Ansiedad Todo Sobre sus Usos CBD y Deporte lo que Hay que Saber

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SINGAPORE Asia Pacific markets looked set for a lower start on Wednesday following an overnight sell off on Wall Street Nikkei futures pointed to opening declines for the Japanese benchmark index at the top of the hour In Australia the ASX 200 dropped 067 in early trade as most sectors traded lower The heavily weighted financials subindex declined 096 as the country s major bank names sold off Equity markets declined while oil stocks gained overnight as markets expect central banks will need to lift rates more quickly to control inflation ANZ Research analysts wrote in a Wednesday morning note Stateside the Dow Jones Industrial Average lost more than 540 points after Goldman Sachs shares sold off as the investment bank missed analysts expectations for earnings The SP 500 as well as the Nasdaq Composite which comprises technology stocks sensitive to interest rates also declined sharply ANZ Research analysts said that the jump in US bond yields weighed on risk appetite and provided a boost for the world s main reserve currency The yield on the 10 year Treasury note topped 187 on Tuesday its highest level in 2 years after beginning the new year at around 15 The 2 year rate which reflects short term interest rate expectations topped 1 for the first time in two years The Japanese yen changed hands at 11458 per dollar while the Australian dollar traded near flat at 07187 Oil prices hit a seven year high overnight after Yemen s Houthi rebels claimed responsibility for a deadly attack in Abu Dhabi earlier this week leading to fresh tensions in the region The United Arab Emirates vowed to retaliate against them International benchmark Brent as well as US crude futures advanced more than 1 and 2 respectively as both oil contracts notched their highest level since October 2014 earlier in the session Global oil demand continues to remain resilient despite the latest surge in Covid‑19 cases from the highly‑transmissible omicron variant Vivek Dhar mining and energy commodities analyst at the Commonwealth Bank of Australia said in a morning note He explained that oil demand is susceptible to Covid 19 in particular to Covid related lockdowns and restrictions more than other commodities as around two thirds of global oil consumption is tied to mobility Fears though are fading that the omicron variant will cripple oil consumption he wrote adding that jet fuel consumption for example continues to trend higher On Wednesday during Asian trading hours US crude was up 169 to 8687 a barrel

Shoppers boosted retail spending in June by 1 as inflation reached a new four decade high

A whale with a lot of money to spend has taken a noticeably bearish stance on Costco Wholesale Looking at options history for Costco Wholesale COST we detected 22 strange trades If we consider the specifics of each trade it is accurate to state that 36 of the investors opened trades with bullish expectations and 63 with bearish From the overall spotted trades 18 are puts for a total amount of 728547 and 4 calls for a total amount of 204745 Taking into account the Volume and Open Interest on these contracts it appears that whales have been targeting a price range from 4450 to 5400 for Costco Wholesale over the last 3 months Looking at the volume and open interest is an insightful way to conduct due diligence on a stock This data can help you track the liquidity and interest for Costco Wholesale s options for a given strike price Below we can observe the evolution of the volume and open interest of calls and puts respectively for all of Costco Wholesale s whale activity within a strike price range from 4450 to 5400 in the last 30 days Costco Wholesale Option Volume And Open Interest Over Last 30 Days Where Is Costco Wholesale Standing Right Now With a volume of 546433 the price of COST is down 208 at 51322 RSI indicators hint that the underlying stock may be approaching overbought Next earnings are expected to be released in 21 days What The Experts Say On Costco Wholesale Wells Fargo downgraded its action to Equal Weight with a price target of 490 Options are a riskier asset compared to just trading the stock but they have higher profit potential Serious options traders manage this risk by educating themselves daily scaling in and out of trades following more than one indicator and following the markets closely If you want to stay updated on the latest options trades for Costco Wholesale Benzinga Pro gives you real time options trades alerts

With the Nasdaq futures trading lower this morning on Wednesday some of the stocks that may grab investor focus today are as follows Wall Street expects The Boeing Company NYSEBA to report quarterly earnings at 004 per share on revenue of 1783 billion before the opening bell Boeing shares fell 02 to 14631 in pre market trading Alphabet Inc NASDAQGOOG reported weaker than expected earnings results for its third quarter after the closing bell on Tuesday YouTube and Network revenue were down on a year over year basis bringing overall Google Ad revenue to 5448 billion up from last year’s 5313 billion Alphabet shares fell 62 to 9843 in the pre market trading session Analysts are expecting Meta Platforms Inc NASDAQMETA to have earned 191 per share on revenue of 2753 billion for the latest quarter The company will release earnings after the markets close Meta shares fell 35 to 13265 in pre market trading Check out our premarket coverage here Microsoft Corporation NASDAQMSFT posted better than expected earnings for its first quarter Revenue for the Microsoft Cloud segment was 257 billion in the first quarter up 24 year over year Microsoft shares dropped 54 to 23723 in the pre market trading session Analysts expect Ford Motor Company NYSEF to post quarterly earnings at 032 per share on revenue of 3600 billion after the closing bell Ford shares rose 28 to close at 1283 on Tuesday

In a Fox News interview on Tuesday former President Donald Trump reiterated his stance on imposing the death penalty for convicted drug dealers a move that would have affected Alice Johnson a woman he pardoned during his presidency What Happened Trump defended his record on crime stating that his pardon powers were focused largely on nonviolent offenders However anchor Bret Baier pointed out that Johnson who was serving a life sentence for charges related to cocaine distribution and money laundering would have been subject to the death penalty under Trump’s plan Trump responded She wouldn t have done it if it was death penalty In other words if it was death penalty she wouldn t have been on that phone call The Hill reports Why It Matters Trump’s advocacy for the death penalty for drug dealers is a consistent part of his rhetoric despite his record of pardoning several people convicted of selling drugs His stance comes amid his ongoing legal battles including a classified documents case with a trial date set for August 14 potentially clashing with the Republican primary debates Trump is the GOP frontrunner for the 2024 presidential election Trump’s stance on drug related crimes and the death penalty has drawn criticism especially considering cases like Alice Johnson’s Yusef Salaam one of the Central Park Five who Trump had called for the execution of in the 1980s referred to Trump’s recent legal troubles as “karma” Salaam referred to Trump’s arrest as karma Hi I am the Benzinga Newsbot I wrote the above article utilizing the sources I hyperlinked above This story was reviewed by Benzinga editors in line with the publication’s editorial guidelines before being published

GABY Inc OTCPKGABLF CSEGABY has determined that consistent with and as reported in its consolidated audited financial statements for the year ended December 31 2022 the write down of its Type 10 retail license issued by the California Department of Cannabis Control to its wholly owned subsidiary Miramar Professional Services MPS renders the value of such asset below the remaining debt of 225 million incurred to acquire it making the continued operation of the retail business untenable Further the company has defaulted on its obligations under the amended and restated promissory note for 225 million issued to or to the order of the holders dated April 24 2023 and secured by a first priority security interest in the collateral which collateral includes all of the outstanding shares of the capital stock of MPS held by the company pursuant to that certain stock pledge agreement dated as of April 5 2021 All efforts to cure such default including refinancing of the debt evidenced in the promissory note have proven unavailable The company has delivered to the holders an executed consent to strict foreclosure and release agreement as contemplated in the promissory note and in cooperation with its secured creditors the parties have exercised the reversion remedy on the terms set out in the strict foreclosure and release agreement The reversion remedy provides that in consideration for the transfer of the collateral to the holders the holders release the company from any further liability for the principal and accrued interest under the promissory note on the terms and conditions set forth in the foreclosure and release agreement Further pursuant to the reversion remedy the GABY shares issued pursuant to Section 2021c of the share purchase agreement dated April 5 2021 between the holders on the one hand and the company on the other shall be returned to the company and surrendered by the holders to the company for cancellation The foreclosure and release agreement and the reversion remedy are effective as of July 15 2023 Effective on the same date Ebon Johnson will resign from the board of directors of GABY The company will consider the feasibility of continuing to operate its CBD business under the Lulu s and 2Rise brands Benzinga Cannabis Capital Conference The Benzinga Cannabis Capital Conference the place where deals get done is returning to Chicago this Sept 27 28 for its 17th edition Get your tickets today before prices increase and secure a spot at the epicenter of cannabis investment and branding Photo Benzinga edit with photos by Matthias Zomer on Pexels and squarefrog on Pixabay Related News GABY To Acquire CBD Brands Hempfusion Sagely Naturals And Apothecanna

American flags hang from the facade of the New York Stock Exchange NYSE building after the start of Thursday s trading session in Manhattan in New York City New York US January 28 2021 REUTERSMike SegarFile Photo July 8 Reuters Global ratings agency Fitch on Friday raised United States outlook to stable from negative on improved near term government debt dynamics driven by a stronger than expected post pandemic economic recovery The agency said it expects government revenue to grow this year helped by strong personal and corporate income taxes httpsbitly3bOVbYU Fitch maintained its sovereign rating at AAA on structural strengths such as the size of the economy high per capita income and a dynamic business environment Last month Moody s also affirmed its highest sovereign rating of Aaa for the country The ratings agency said it expects the economy to remain resilient to current challenges from high inflation and Russia s invasion of Ukraine read more The US economy has been on recession watch as the Federal Reserve aggressively tightens monetary policy to tackle inflation The US central bank last month raised its policy rate by three quarters of a percentage point its biggest hike since 1994 Reporting by Bhanvi Satija in Bengaluru Editing by Devika Syamnath

United Oil Gas PLC on Wednesday anticipated broadly flat revenue for the first half of 2022 and reiterated full year guidance Here s what the oil and gas company had to say 1H 2022 Group working interest production averaged 1552 boepd in line with full year guidance of 1500 1650 boepd with oil constituting circa 85 of average production Group revenue for the first half of 2022 is expected to be approx 10m 1H 2021 102m The average realised oil price per barrel from Egypt achieved was approx 1055bbl 1H 2021631bbl representing a discount to Brent of circa 237bbl 1H 2021195

On CNBC’s Halftime Report Final Trades Bryn Talkington of Requisite Capital Management said she is sticking with Regeneron Pharmaceuticals Inc NASDAQ REGN SVB Leerink analyst David Risinger upgraded Regeneron Pharmaceuticals from Market Perform to Outperform and raised the price target from 834 to 976 In fact Benzinga data shows that REGN has a consensus Outperform rating from analysts Joseph Terranova of Virtus Investment Partners said with oil back above the 71 per barrel level Hess Corporation NYSEHES is the company that I think you can own to play a recovery rally in oil Morgan Stanley analyst Devin McDermott maintained Hess with an Overweight rating and raised the price target from 130 to 139 Don’t forget to check out our premarket coverage here Stephen Weiss of Short Hills Capital Partners named Bank of America Corporation NYSEBAC as his final trade Bank of America shares gained on Monday after First Citizens BancShares Inc announced it will purchase all loans and certain other assets of the failed Silicon Valley Bank Price Action Bank of America shares rose 5 to close at 2849 while Hess rose 36 to 12686 on Monday Regeneron Pharmaceuticals shares added 01 to settle at 82041 during the session Check This Out Investor Fear Increases Amid Recent Bank Concerns

Cathie Wood led Ark Investment Management bought 129800 shares of healthcare company Teladoc Health Inc TDOC valued at over 45 million based on Tuesday’s closing price via four of its exchange traded funds ETFs Teladoc is the ninth largest holding of the firm’s flagship fund Ark Innovation ETF ARKK with a weight of 446 according to the fund s website Ark Innovation ETF itself holds more than 117 million shares in the firm valued at over 455 million Also Read Nio XPeng Fall Over 4 Alibaba Edges Down Hang Seng Slips As Investors Brace For China US Inflation Data Earnings Teladoc’s net loss totaled 31 billion for the June quarter compared to 1338 million in the same period last year The firm’s revenue increased 18 to 5924 million from a year earlier Analyst Rating Berenberg has downgraded Teladoc’s rating from ‘buy’ to ‘hold’ while changing the price target to 35 from 42 earlier according to Benzinga Pro Other Buys Ark Investment Management also bought 102756 shares of Markforged Holding Corp MKFG valued at over 279000 via two of its funds Sales The firm sold 429233 shares of Signify Health Inc SGFY via its flagship fund at a valuation of over 96 million based on Tuesday’s closing Signify is the 17th largest holding of Ark Innovation ETF with a weight of 258 valued at over 263 million

Ford and GM believe they can retain pricing profit engine but Wall Street is unsure

Altria Group Inc said Thursday that its board increased its quarterly dividend by 44 to 94 cents a share from 90 cents The maker of Marlboro cigarettes said the dividend is payable on Oct 11 to shareholders of record as of Sept 15 The company said its new annualized dividend rate is 376 a share a dividend yield of 82 based on Wednesday s closing price of 4580

Kape Technologies PLC said Tuesday that it expects to report revenue for 2021 significantly ahead of expectations as it experienced strong subscriber growth The UK digital security and privacy software company said revenue for the period is now expected to be substantially ahead of previous guidance at around 2305 million an 89 increase from 1222 million in 2020 Adjusted earnings before interest taxes depreciation and amortization which strips out exceptional and other one off items is seen at around 770 million compared with 390 million a year earlier Previous guidance for the year was for revenue between 197 million and 202 million and adjusted Ebitda between 73 million and 76 million it said The subscriber base increased 158 to 65 million with 05 million paid subscribers added organically Kape also reduced its average customer acquisition costs it said We expect to continue on our strong growth trajectory in 2022 with Kape now serving over 65 million paying customers Chief Executive Ido Erlichman said Shares in Kape Technologies at 0835 up 7 pence or 17 at 415 pence

Billionaire investorMark Cubanbelieves that while the opportunity forCardanoCRYPTOADA as a smart contract platform may be greaterDogecoinCRYPTODOGE still has more potential applications for the time being What HappenedIn a recent interview withAltcoin Daily Cuban explained why he does not view market cap as an accurate indicator of a cryptocurrency project s inherent value “If you do enough staking and you have enough inflation and you can stake enough that people don’t sell too much you’re gonna have a big enough market cap” he said talking about Cardano’s place in the top 10 cryptocurrencies At press time Cardano had a market cap of 178 billion while DOGE had 92 billion according to CoinMarketCap data TheShark Tankinvestor named meme coins Dogecoin andShiba InuCRYPTOSHIB as examples of coins that have “huge market caps” Cuban s DOGE Thesis “I still think DOGE has got more applications potentially available to it than Cardano” said Cuban “The opportunity for Cardano is greater until DOGE really becomes a platform for applications Blockchain based cryptocurrency projects are still a business Cuban said no matter how they are positioned or how high their market cap is After assessing the number of transactions on the Cardano blockchain Cuban said he failed to see any great impact from the cryptocurrency However he said there would be a significant opportunity for it if the next big application that everyone wants to use is built on Cardano “The door is open for that to happen but it hasn’t happened yet” he said See AlsoHOW TO BUY CARDANO ADA Price ActionAt press time ADA was trading at 0524 up 291 over the last 24 hours as per data fromBenzinga Pro DOGE was trading at 0069 up 115 over the same period

ChannelAdvisor Corp on Tuesday said it agreed to be acquired by privately held commerce network CommerceHub for more than 660 million in a deal led by private equity firm Insight Partners CommerceHub plans to pay 2310 a share in cash for ChannelAdvisor a 57 premium to Friday s closing price of 1470 for the Morrisville NC provider of cloud based e commerce solutions In addition to CommerceHub shareholder Insight investors participating in the deal include GTCR Sycamore Partners and Goldman Sachs Asset Management with financing provided by Sixth Street and Golub Capital LLC The deal is slated to close by the end of the year

Bed Bath Beyond shares slump after death of CFO Stocks swung lower Tuesday afternoon leaving the Nasdaq Composite on track for its longest losing streak since 2016 as high energy prices rising Treasury yields and a stronger dollar weighed on equities Major stock indexes fell for a third straight week on Friday with the Dow posting a 3 weekly decline the SP 500 declining more than 3 and the Nasdaq Composite shedding 42 Lingering concerns about the economic fallout from a European energy crisis were again in focus on Tuesday as was the Federal Reserve s determination to dampen inflation by aggressively hiking interest rates Meanwhile rising Treasury yields and a stronger dollar were seen weighing particularly on the Nasdaq which was on track for its ninth consecutive day in the red If it does finish lower this would mark the longest losing streak for the tech heavy index since Nov 4 2016 There s not a lot of demand for stocks right now people are nervous As for the causes I think part of it is psychology partly the strong dollar and partly higher bond yields they re all part of the recipe here said Steve Sosnick chief strategist at Interactive Brokers The higher yields and stronger dollar were both particularly negative for megacap tech stocks like Apple Inc AAPL Meta Platforms Inc META and Amazoncom Inc AMZN We ve seen an inverse relationship between tech stocks and long term bond yields based on the notion that tech stocks are the ultimate long duration asset As yields spike it creates big headwinds for stocks in general and the leading tech stocks in particular Sosnick added Yields climbed across the Treasury curve but long dated bonds saw the biggest moves with the 10 year yield up 135 basis points at 3332 Meanwhile the ICE US Dollar Index was back above 110 right around its strongest level in two decades Investors received some good news on the economic data front as the Institute for Supply Management said its services index rose to 569 in August from 567 in the prior month the highest level since April Economists polled by The Wall Street Journal had expected the index to drop to 555 But it did little to help bail out stocks See US ISM services sector index hits highest level in four months As stocks head lower on Tuesday market strategists wondered whether the market was headed for a re test of the June lows especially considering September s status as historically the worst month of the year for markets Bulls hoping for a rebound will be doing so during a shortened Labor Day week that historically has paralleled September and its track record of underperformance Losses have been slightly less frequent over the past three decades but volatility has been higher said Chris Larkin managing director for trading at E Trade from Morgan Stanley See The psychology has changed so quickly Why stock market lows may be retested as SP 500 enters its weakest stretch of year US equities had initially bounced on Friday after the August nonfarm payrolls report was deemed not so strong that it would encourage the Fed to become even more aggressive in hiking interest rates But news later in the day that Russia would indefinitely shutdown the main gas pipeline to Europe thereby adding to the chances of a sharp economic slowdown on the continent pushed the SP 500 back towards its lowest level since late July And those concerns continued to reverberate across markets on Tuesday even as the new Prime Minister Liz Truss promised immediate relief for high energy bills in the UK In other news Goldman Sachs chief economist Jan Hatzius offered a cautiously optimistic note on the ability of the Federal Reserve to deliver a so called soft landing of the US economy averting recession as it continues to raise interest rates and otherwise tighten monetary policy

A symphony of light consisting of bars lines and circles in blue and yellow the colours of the European Union illuminates the south facade of the European Central Bank ECB headquarters in Frankfurt Germany December 30 2021 REUTERSWolfgang Rattay Sept 16 Reuters Money markets in the euro zone have started pricing in a chance of an ECB rate cut late next year as traders bet the bank may end up overtightening monetary policy by delivering a series of big rate hikes Last week the European Central Bank lifted its deposit rate by an unprecedented 75 basis points bps to 075 to frontload policy tightening and get a hold of soaring inflation The bank implied rate rises could continue into early 2023 even as the bloc braces for recession read more Since that meeting traders have ramped up their bets on larger moves Money markets now price in around 70 bps of hikes in both October and December They see rates peaking at around 27 in mid 2023 according to ICAP data provided by Refinitiv Yet because of those steeper expectations traders have also started to bet the ECB will then start cutting rates money markets see rates at around 26 by February 2024 Before last week s ECB meeting an additional 90 bps of hikes were priced in by year end and rates were seen peaking at around 22 and then holding steady With the ECB in front loading mode and taking a leaf out of the Fed s book I expect further inversion said Antoine Bouvet senior rates strategist at ING referring to a rate cut being priced in The moves in euro zone money markets echo what has been happening in the United States There the Federal Reserve has also been frontloading rate hikes delivering a combined 200 bps of increases since May Fears that aggressive rate hikes will push the US economy into recession have led traders to price in some 50 bps of Fed rate cuts next year after they peak above 4 in March For the euro zone a Reuters poll expects the ECB s deposit rate to peak at 150 and hold there but investment banks Nomura BofA and German insurer Allianz are among those already predicting rate cuts next year or in 2024 read more The shift since last week implies traders pricing in over a 40 chance of a 25 bps cut by February 2024 But Piet Christiansen chief analyst at Danske Bank sees a one off rate cut as unlikely and instead says it reflects the market pricing a small probability of multiple 25 bps rate cuts I think the hurdle is quite high and also because inflation is going to print above 2 until spring 2024 in Europe so politically can ECB chief Christine Lagarde cut rates with inflation above 4 I m not sure he added Reporting by Yoruk Bahceli Editing by Tommy Reggiori Wilkes and Susan Fenton

Willow Biosciences Inc OTCQBCANSF TSXWLLW released its financial and operating results for the three months ended March 31 2023 revealing revenue of CA274000 203000 compared to no revenue in Q1 2022 The company is in the development stage and expects to operate at a loss and use cash in operating activities as it conducts research and development on its biosynthesis pathways The first quarter of this year marked significant progress against our stated goals to foster diversified commercial growth within our portfolio and create opportunities for near term revenue generation for the business all while experiencing reduced cash burn stated Chris Savile Willow s president and CEO We are on a solid trajectory in successfully executing on projects underway while pursuing new agreements and our legacy yeast strain engineering capabilities along with the complementary BioOxi bio oxidation platform technology we recently launched further opens up the playing field where we can leverage our technology in pursuit of growth Highlights for the Quarter On January 17 2023 Willow announced a follow on engagement with Sandhill One LLC for the next phase in optimizing a proprietary enzyme vital to the development of a large volume active pharmaceutical ingredient used in nutraceutical and pharmaceutical products On February 22 2023 Willow announced the appointment of Jim Lalonde PhD as its newest independent member of the company s board of directors effective February 21 2023 On March 22 2023 Willow and SUANFARMA jointly announced that they have together with SUANFARMA s CIPAN manufacturing site completed the development and manufacturing process in pilot scale for the Willow owned ingredient Cannabigerol CBG The 36 m3 scaling up production batches required for the forthcoming qualification and registration will be completed during 2023 On March 28 2023 Willow announced that the board of directors appointed Dr Chris Savile Willow s COO as president and CEO and Trevor Peters a director and founder of the company as chairman effective March 28 2023 in connection with Dr Peter Seufer Wasserthal s retirement as president and CEO Dr Seufer Wasserthal will continue to be a Director of the company Willow also announced the appointment of experienced financial executive Raffi Asadorian as an independent director to the company s board of directors Willow ended the quarter with approximately CA105 million of cash as of March 31 2023 with the company s approved annual budget expected to be fully funded for 2023 Net loss was CA47 million compared to net loss of CA3 million in Q1 2022 Photo by Louis Reed on Unsplash Related News Willow Biosciences Touts Strong Q3 Results Continues Its Focus On Biosynthetically Produced Cannabinoids Willow Biosciences Announces Q2 2021 Results Agrees To Supply Cellular Goods With CBG

Carnage in bonds this year has put billions worth of fixed income exchange traded funds on pace to post their worst first half to a year on record according to Dow Jones Market Data Stocks SPX bonds and more sectors have been hit hard in 2022 as the Federal Reserve has moved to dramatically raise interest rates and tighten financial conditions to fight inflation at a 40 year high The historic repricing of financial assets has hurt major fixed income exchange traded funds or ETFs an increasingly popular way for individuals and institutional investors to gain exposure to industries sectors commodities currencies and other corners of financial markets in the past two decades Here’s a snapshot of the negative total return performance of major fixed income ETFs in the past six months 116 for the 81 billion iShares Core US Aggregate Bond ETF AGG If those levels hold through June 30 it will be their worst first half to a year on record according to Dow Jones Market Data Shares of ETFs like stocks trade in a flash which can make them one of the first sectors to experience selling in volatile markets as investors look to quickly raise cash for liquidity While most of the above listed funds track Treasury debt two hold exposure to corporate bonds which have been under pressure from rates volatility Last week investment grade corporate bond ETFs and related funds booked their largest weekly outflows of 2022 See also Why high yield ETF outflows made this Jefferies strategist ‘a little nervous’ The sharp rise and retreat in recent weeks of Treasury yields has come as concerns grow over the potential for a slowdown or US recession which could spell trouble for companies households and the economy See Citigroup cuts SP 500 target to reflect blend of recession ‘soft landing’ scenarios The 10 year Treasury rate BXTMUBMUSD10Y was at 3193 on Monday off the year’s high of 3482 touched in mid June but above its low of 1628 in January according to Dow Jones Market Data Central bankers frequently expressed concerns about America’s pile of corporate debt before the pandemic which led to another borrowing boom Corporate bond ETFs can trade instantly but can contain exposure to less liquid bonds particularly in times of market stress

A whale with a lot of money to spend has taken a noticeably bearish stance on UnitedHealth Group Looking at options history for UnitedHealth Group NYSEUNH we detected 40 strange trades If we consider the specifics of each trade it is accurate to state that 35 of the investors opened trades with bullish expectations and 65 with bearish From the overall spotted trades 20 are puts for a total amount of 850501 and 20 calls for a total amount of 1186518 What s The Price Target Taking into account the Volume and Open Interest on these contracts it appears that whales have been targeting a price range from 3700 to 6200 for UnitedHealth Group over the last 3 months Volume Open Interest Development In terms of liquidity and interest the mean open interest for UnitedHealth Group options trades today is 47508 with a total volume of 314500 In the following chart we are able to follow the development of volume and open interest of call and put options for UnitedHealth Group s big money trades within a strike price range of 3700 to 6200 over the last 30 days UnitedHealth Group Option Volume And Open Interest Over Last 30 Days Biggest Options Spotted Symbol PUTCALL Trade Type Sentiment Exp Date Strike Price Total Trade Price Open Interest Volume UNH CALL SWEEP BEARISH 011924 54000 1825K 262 52 UNH CALL TRADE BULLISH 011924 46000 1422K 403 17 UNH PUT TRADE BULLISH 011924 56000 1204K 92 20 UNH CALL TRADE BULLISH 042123 51000 1000K 23K 21 UNH CALL SWEEP BEARISH 062124 52000 915K 21 17 Where Is UnitedHealth Group Standing Right Now With a volume of 1282766 the price of UNH is up 022 at 51396 RSI indicators hint that the underlying stock may be overbought Next earnings are expected to be released in 4 days What The Experts Say On UnitedHealth Group Raymond James upgraded its action to Strong Buy with a price target of 630 Options are a riskier asset compared to just trading the stock but they have higher profit potential Serious options traders manage this risk by educating themselves daily scaling in and out of trades following more than one indicator and following the markets closely If you want to stay updated on the latest options trades for UnitedHealth Group Benzinga Pro gives you real time options trades alerts

The most oversold stocks in the financial sector presents an opportunity to buy into undervalued companies The RSI is a momentum indicator which compares a stock s strength on days when prices go up to its strength on days when prices go down When compared to a stock s price action it can give traders a better sense of how a stock may perform in the short term An asset is typically considered oversold when the RSI is below 30 Here’s the latest list of major oversold players in this sector having an RSI near or below 30 ECB Bancorp Inc NASDAQECBK ECB Bancorp shares dropped around 13 over the past month The company’s stock has a 52 week low of 1208 RSI Value 2789 ECBK Price Action Shares of ECB Bancorp rose 05 to close at 1226 on Monday MidWestOne Financial Group Inc NASDAQMOFG MidWestOne Financial posted weaker than expected Q4 earnings The company is scheduled to release its first quarter results on April 27 2023 The company’s stock has a 52 week low of 2082 RSI Value 2717 MOFG Price Action Shares of MidWestOne Financial Group rose 05 to close at 2130 on Monday First Financial Corporation NASDAQTHFF First Financial posted better than expected Q4 earnings “We are pleased with our fourth quarter and full year results” said Norman L Lowery Chairman and Chief Executive Officer “2022 was a record year for net income Loan growth continues to be strong which contributed to our seventh straight quarter of net interest income growth” The company’s stock has a 52 week low of 3383 RSI Value 2903 THFF Price Action Shares of First Financial rose 02 to close at 3407 on Monday Arrow Financial Corporation NASDAQAROW Arrow Financial recently announced the receipt of Nasdaq noncompliance notice The company’s 52 week low is 2217 RSI Value 2684 AROW Price Action Shares of Arrow Financial fell 12 to close at 2221 on Monday Territorial Bancorp Inc NASDAQTBNK Keefe Bruyette Woods maintained Territorial Bancorp with a Market Perform and lowered the price target from 26 to 25 The company has a 52 week low of 1758 RSI Value 2728 TBNK Price Action Shares of Territorial Bancorp dropped 12 to close at 1781 on Monday Read More 17M Bet On This Healthcare Stock Check Out These 3 Stocks Insiders Are Buying

Saga PLC said on Tuesday that it is on track to swing to underlying pretax profit for fiscal 2023 as travel continues to recover The UK insurer and specialist in travel and other products and services for people over the age of 50 said it expects underlying pretax profit which strips out exceptional and other one off items for fiscal 2023 in the range of 35 million pounds and 50 million pounds 424 million and 605 million and in line with markets expectations This compares with a loss of GBP7 million the prior year The company said that holiday bookings for 2023 and 2024 are showing encouraging early signs while cruise season bookings are well ahead of expectations The company is seeking to return its motor and home policy business to growth in 2023 and 2024 it added

Canadian insurer iA Financial Corp on Thursday reported a 13 fall in first quarter profit missing expectations in the period iA Financial reported per share earnings of 140 Canadian dollars or US108 down from C161 in prior year period Core earnings an adjusted metric came in at C179 a share missing its guidance range of 185 to 2 a share According to FactSet analysts were expecting a rise to C197 a share Return on shareholders equity increased slightly to 128 from 127 a year ago Assets under management and administration ended the quarter at C2139 billion a year over year increase of 6 it said Chief Financial Officer Jacques Potvin said that while our first quarter profitability did not meet our expectations several fundamentals such as our robust balance sheet strong capital position and good organic capital generation provide a stable foundation to pursue our growth strategy in an environment of macroeconomic variations and high inflation

After a soul crushing 2022 the once booming technology sector appears poised for a comeback in the new year or so it seems Big names in the sector are already off to solid start with shares of Amazon and Meta Platforms up more than 16 each in 2023 Alphabet and Netflix have surged more than 13 and 21 respectively META YTD mountain Shares of Meta Platforms have surged more than 19 since the start of 2023 But earnings season will test the sustainability of these recent rallies and runs and indicate whether there s evidence to support those surges or if big technology is in just another bear run waiting to lose steam The season kicks into full gear Tuesday with results from Microsoft This is the first real test we ve had in a while for big tech stocks said Adam Sarhan CEO of 50 Park Investments We ve known for a while that the Fed wants inflation to go down In order to do that they have to raise rates The missing link now has been slower economic activity Tech companies have already demonstrated that they are bracing for slower growth with a string of recent cost cutting announcements and layoffs that have left few stalwarts untouched Alphabet said Friday it s slashing 12000 jobs while Salesforce announced earlier this month that it would cut 10 of its staff On Monday Spotify joined the trend sharing plans to reduce its workforce by 6 along with the departure of its content chief Slashed bonuses are also becoming another indicator of tougher times For tech a seemingly endless expansion period came to a stuttering halt when the Federal Reserve began its hiking and recession fears mounted With the economy now weakening companies like Alphabet face an advertising slowdown Amazon is grappling with tighter consumer budgets and Microsoft is feeling the effects of lower IT spending All in all what companies relay in their outlooks including whether they cut estimates and by how much will signal what obstacles remain ahead Only then will investors have a better sense of whether difficult times have in fact passed Sarhan expects most technology companies to surpass expectations in part because estimates have come so much A miss therefore would signal even more trouble in 2023 he said One exception is Netflix which surged last week after an earnings miss That s because subscriber growth outshined that shortfall signaling to investors that there will be more customers and more earnings in the future Sarhan said Some analysts remain optimistic heading into earnings season viewing this period as a potential reset for dismal expectations That includes Wells Fargo analyst Michael Turrin who expects Microsoft s report Tuesday will put the worst news behind us and provide a much needed reset for expectations While FQ2 looks likely to be a noisier qtr our work suggests MSFT will see stabilizing results through the 2H and thereafter presenting a more compelling entry point on shares he said in a Monday note to clients Companies often use this earnings season as an opportunity to guide for the year ahead Paul Meeks portfolio manager at Independent Solutions Wealth Management wants companies to realistically guide for a recession which he views as likely within the next several months Preparing investors for the worst with low ball guidance may also set technology stocks up for an upside surprise in the aftermath he said I m not necessarily worried about what they say for the quarter just ended that s a rearview mirror he said I d just like people to say honestly I don t know so we re planning for the worst

Safe Harbor Financial NASDAQSHFS a leader in facilitating financial services to the regulated cannabis industry announced its financial results late Monday for the third quarter that ended September 30 2022 Third Quarter Financial and Operational Highlights Safe Harbor completed its business combination transaction with Northern Lights Acquisition Corp and began trading on the NASDAQon September 29 2022 Revenue increased 386 to 238 million for the three months that ended September 30 2022 compared to 172 million for the third quarter of 2021 The increase was primarily attributable to the Company s increase in investment income as a result of recent Federal Reserves interest rate increases and an increase in loan interest income Adjusted EBITDA was 128 million compared to 947000in the same period of 2021 As of September 30 2022 Safe Harbor had cash and marketable securities of 727 million 2022 has been a transformative year for Safe Harbor highlighted by our successful public listing on the Nasdaq in September said founder and CEOSundie Seefried I am pleased to report we have totaled nearly 700 accounts placed with us and increased our loan interest revenue by 1400 in the third quarter of 2022 due to our ability to place a greater volume of high quality credit We remain focused on increasing our deposit base and expanding our loan services platform going forward” Originations and Loan Activity For the nine month period ended September 30 2022 Safe Harbor originated loans totaling 18886500 compared to 3600000 for the full year in 2021 and 1267753 in 2020 Financial Results For the quarter that ended September 30 2022 total revenue increased 386 to 237 million compared to 172 million in the same period last year according to the report “For the nine months ended September 30 2022 total revenue increased 114 to 590 million compared to 530 million in the same period in 2021” it says For the quarter that ended September 30 2022 net income was 106 million compared to 946 thousand in the same three month period that ended September 30 2021 Moreover for the nine months that ended September 30 2022 Net income was 189 million as compared to 257 million for the same period in 2021 Balance Sheet As of September 30 2022 the Company had cash and cash equivalents of 7273012 as compared to 4354827 in the same period ended September 30 2021 “As of November 2 2022 we have approximately 244 million of Safe Harbor originated loans in underwriting which will continue to drive Safe Harbor s financial growth We remain steadfast in our mission to serve the growing banking needs of the cannabis industry with our platform as we execute our strategy” concluded Seefried Get your daily dose ofcannabis newson Benzinga Cannabis Don’t miss out on any important developments in the industry Photo Courtesy Of Tim Foster On Unsplash

What happened An anonymous cryptocurrency wallet holding 43068296 of Bitcoin CRYPTO BTC just transferred their funds onto Coinbase The bitcoin wallet address tied to this transfer has been identified as 18hHCZ7dbWiWrbEFrUMcuk498jXLrcjcyU You can view more details about the transaction here Why it matters Cryptocurrency transfers from wallets to exchanges is typically a bearish signal Most high networth cryptocurrency traders hold their funds on a hardware wallet as these devices offer better security than cryptocurrency exchanges Hardware wallets store investors private keys offline securing their digital assets from online hacks When whales transfer bitcoin onto an exchange this typically means they are looking for liquidity It s unlikely that the investor plans to hold their crypto on Coinbase as the security risks of holding large amounts of cryptocurrency on an exchange are higher than holding these assets in a hardware wallet It s likely that this Bitcoin whale is planning either on selling Bitcoin or trading it for other altcoins Price Action Bitcoin is down 3 in the past 24 hours See Also How To Buy Bitcoin Public Blockchain data sourced from Whale Alerts Twitter This article was generated by Benzinga s automated content engine and reviewed by an editor

Italy will launch a new series of BTP Italia a retail oriented government bond indexed to the Italian inflation rate from June 20 to June 23 the Ministry of Economy and Finance said Wednesday In an important change for the first time the issuance foresees a double bonus for retail investors who purchase the BTP Italia at issuance the ministry said The first bonus will be paid during the bond s life while the second paid at maturity for investors who will hold it continuously until maturity it said The maturity of the bond will be between six and 10 years subject to an announcement in the coming days Similarly to previous issues subscriptions between June 20 and 22 unless early closing will be retained for retail investors In the second phase institutional investors will be able to buy the bond the morning of June 23 the ministry said

“Who Will Buy” is the exuberant ensemble number from the 1962 musical hit Oliver It is also the rallying cry of a number of investors and analysts who are worried about who exactly will be purchasing trillions of dollars worth of bonds as inflation bites and public deficits balloon Such concerns were on full show last week when gilt yields soared after the UK government unveiled a mini budget full of tax cuts that were expected to expand the UK’s debt burden Prime Minister Liz Truss has since reversed the plan but worries over the future attractiveness of a wide variety of bonds remains To understand the concern look no further than the analysts at JPMorgan Chase Co who argue that buyers across a wide variety of debt including even the US Treasuries which form the backbone of global markets are stepping away “We remain concerned about the lack of structural demand for Treasuries” wrote JPMorgan analysts led by Jay Barry and Srini Ramaswamy In fact they say all of the three main buyers for US government debt commercial banks foreign governments and of course the Federal Reserve itself appear to have stepped away from the market While some of the retreat is to be expected as the US central bank tapers its balance sheet the scale of the shift in appetite is still noteworthy they write They estimate that the Fed’s Treasury holdings have dropped by 180 billion year to date as the central bank embarks on quantitative tightening Meanwhile commercial banks’ collective holdings of Treasuries have fallen by 60 billion this year after growing more than 700 billion in 2020 through 2021 And foreign governments are also stepping back with official holdings having dropped 50 billion over the past six months

With US stock futures trading slightly lower this morning on Friday some of the stocks that may grab investor focus today are as follows Adobe Inc NASDAQADBE reported better than expected results for its second quarter and issued strong earnings forecast Adobe shares climbed 35 to 50830 in the after hours trading session The Walt Disney Company NYSEDIS reported that Christine McCarthy is stepping down as the company’s CFO Disney shares fell 05 to 9250 in the after hours trading session NaaS Technology IncNASDAQNAAS is scheduled to report its unaudited financial results for the first quarter before the opening bell NaaS Technology shares fell 1 to close at 618 on Thursday Check out our premarket coverage here Virgin Galactic Holdings Inc NASDAQSPCE announced the start of commercial spaceline operations The company said its first commercial spaceflight Galactic 01 is set to fly between June 27 and June 30 Virgin Galactic shares jumped 438 to 584 in after hours trading Squarespace Inc NYSESQSP entered into a definitive agreement to acquire Alphabet Inc s Google Domains business Squarespace shares surged 77 to 3380 in the after hours trading session Read This Next Check Out 3 Utilities Stocks With Over 4 Dividend Yields From Wall Street s Most Accurate Analysts

Data from blockchain analytics firm Glassnoderevealed long term holders hodlers of Bitcoin CRYPTO BTC are currently profitable marking the first time in nearly a year Glassnode s seven day average of Bitcoin s long term holder spent output profit ratio LTH SOPR has crossed above 1 indicating that coins moved on chain are being sold at a profit The LTH SOPR focuses on coins moved on chain that have a lifespan of at least 155 days reflecting macro market shifts more accurately Historically renewed profitability for long term holders has presaged major market rallies with previous crossovers dated May 2020 May 2019and November 2015 coinciding with recovery rallies that eventually translated into multi year bull runs Also ReadStablecoin Wars USDT Dethrones USDC On Polygon As Gaming And NFTs Skyrocket While the ratio s crossover above zero might imply a positive market cycle ahead it could also create resistance and slow down the cryptocurrency s rise in the short term Meanwhile the sharp rise in Bitcoinheld on Binance one of the largest cryptocurrency exchanges might be bad news for the market according to Markus Thielen head of research and strategy at Matrixport He suggestedthat large amounts of Bitcoin being moved onto exchanges generally means that those are ready to be sold andthe awakening of legacy wallets that have not been used for 10years could be a sign that long term holdersthink prices might be capped around 30000 Read NextCoinbase Warns SEC Don t Mess With Crypto s Big Dog Photo Shutterstock

The selling on Wall Street may not be over even after a rough month where every sector of the stock market was hit hard according to several technical strategists The S P 500 fell 9 in September and along the way it took out its previous lows for the year and broke below key technical levels The sell off also included several days of extremely broad selling that is sometimes called a washout day and can be seen as a sign of capitulation But as the calendar turns to October technical strategists are still reluctant to call a bottom BTIG strategist Jonathan Krinsky wrote in a note to clients on Sunday that even though the S P 500 has fallen to another key moving average that could be a rebound point stocks seem likely to keep dropping We closed Friday almost dead on the 200 week MA similar to what happened in 2018 The difference however was during the 2018 low the VIX curve was 12 points inverted and currently it s essentially flat Therefore we don t think 3589 will mark the low and could see a possible overshoot towards 3400 before a more durable low forms later in October Krinsky said The VIX is the Cboe Volatility Index often called Wall Street s fear gauge and it is based on volatility implied by the options market The general calmness of that measure has puzzled strategists during this bear market as it remains well below its peak in March 2020 during the Covid driven market plunge Bank of America strategist Stephen Suttmeier agreed that the market probably has more room to fall He also pointed to options market indicators that suggested the bottom was not in yet On a near term basis more tactical capitulation may be needed The 3 month VIX vs VIX moved below 10 last week but the 5 day and 25 day putcalls may require spikes above 12 and 11 respectively for tactical capitulation Suttmeier wrote Another group of indicators used by technical strategists are investor surveys of positioning and sentiment Many of these show that the mood among money managers is near a bottom but that doesn t mean a rebound is imminent The most recent exposure data from NAAIM shows the average active manager is just 12 exposed to stocks This reading is down from the prior week s 30 and below the quarterly average of 41 JC O Hara of MKM Partners wrote in a note to clients Historically this is a very rare reading but we have found that while low exposure readings are contrarian in message the timing is not precise Several instances of similar low readings marked a low however 2008 shows exposure levels have the ability to stay depressed for long periods of time he added CNBC s Michael Bloom contributed to this report

What happened An anonymous cryptocurrency wallet holding 37969212 of Bitcoin CRYPTO BTC just transferred their funds onto Coinbase The bitcoin wallet address tied to this transfer has been identified as 15EKLzmX6g96LJMqa4LdMLR1xMoKoCqRWi You can view more details about the transaction here Why it matters Cryptocurrency transfers from wallets to exchanges is typically a bearish signal Most high networth cryptocurrency traders hold their funds on a hardware wallet as these devices offer better security than cryptocurrency exchanges Hardware wallets store investors private keys offline securing their digital assets from online hacks When whales transfer bitcoin onto an exchange this typically means they are looking for liquidity It s unlikely that the investor plans to hold their crypto on Coinbase as the security risks of holding large amounts of cryptocurrency on an exchange are higher than holding these assets in a hardware wallet It s likely that this Bitcoin whale is planning either on selling Bitcoin or trading it for other altcoins Price Action Bitcoin is up 0 in the past 24 hours See Also How To Buy Bitcoin Public Blockchain data sourced from Whale Alerts Twitter This article was generated by Benzinga s automated content engine and reviewed by an editor

Shares of technology behemoths and electric vehicle maker Tesla Inc TSLA pulled sharp U turns in premarket trading to dive into negative territory after data showing that inflation rose more than expected in June Of the top 5 companies by market capitalization shares of Apple Inc AAPL fell 19 Microsoft Corp MSFT dropped 18 Alphabet Inc GOOGL GOOG slid 20 Amazoncom Inc AMZN shed 20 and Tesla sank 33 The consumer price index CPI rose 13 in June compared with expectations of a 11 advance as year over year inflation increased to 91 to the highest rate since November 1981 In addition inflation adjusted wages fell 1 in June Prior to the CPI release shares of Apple Microsoft Amazon and Tesla were all gaining more than 1 while Alphabet s stock was only down about 02 Meanwhile futures ES00 for the SP 500 SPX swung from a gain of about 09 just before the data to a loss of 16

A logo of Groupe ADP is seen in the Terminal 2E at the Paris Charles de Gaulle airport in Roissy near Paris France July 1 2022 REUTERSSarah Meyssonnier July 28 Reuters French airport operator ADP ADPPA on Thursday raised its financial guidance as it returned to profit for the first time since 2019 boosted by a recovery in traffic in the first half of the year in particular at Paris Aeroport ADP operator of the French capital s Orly and Roissy Charles de Gaulle CDG airports now expects an EBITDA earnings before interest taxes depreciation and amortization margin of between 32 and 37 of revenue in 2022 and 2023 against its previous forecast of between 30 and 35 Last week ADP raised its traffic outlook for the year saying it expected total traffic of 74 84 of 2019 levels across its whole network of operated airports and 72 82 of 2019 levels for Paris Aeroport read more ADP which around the start of July was hit by strikes at its CDG airport said it estimates a tiny material impact of two salary increase agreements for its employees at 13 million euros 1320 million in the second half of the year We should have increased salaries without any strikes so it doesn t have a lot of incidence Chief Executive Augustin de Romanet said in a call Several European airlines and airports have experienced strikes in recent weeks as workers push for higher wages and better working conditions read more In Paris alone traffic in the first half of the year was up by 2492 year on year to 375 million passengers at 716 of its 2019 level A total of 1182 million passengers passed through all of ADP operated airports from January to June a 1344 rise year on year or 719 of pre pandemic levels That lifted ADP s net result to 160 million euros in the six months to June more than double the 78 million euros expected by the analysts in a company complied consensus European airport operators have benefited from a rebound in air travel with the easing of coronavirus restrictions but ADP s Spanish rival Aena AENAMC warned this week that it does not expect a recent sharp recovery in passenger numbers to be sustained due to the tough economic environment read more ADP expects a modest impact of inflation on its costs it said in a call Reporting by Dagmarah Mackos and Augustin Turpin editing by David Evans Marguerita Choy and Leslie Adler

Restaurant Group PLC said Friday that it expects 2021 earnings to be at the top end of its guidance range The UK restaurant and pub chain had forecast adjusted earnings before interest taxes depreciation and amortization of between 73 million and 79 million pounds 993 million 1074 million In addition year end net debt is now expected to be below GBP180 million rather than below GBP190 million as previously guided Despite the near term uncertainties the board remains confident in the group s prospects given the strength of our brands substantially reduced net debt and outperformance versus the market Restaurant Group said

US stocks traded higher with the Dow Jones gaining around 300 points on Friday Here are some big stocks recording gains in today’s session Immunocore Holdings plc shares fell 177 to 4728 after the company presented its Phase 1 data for TCR therapy targeting PRAME Mullen Automotive Inc dipped 13 to 05301 Mullen Automotive recently acquired a controlling interest in EV truck innovator Bollinger Motors Inc Alector Inc fell 125 to 962 after Morgan Stanley downgraded the stock from Overweight to Equal Weight and lowered its price target from 27 to 13 CF Acquisition Corp VI fell 78 to 1131 DA Davidson initiated coverage on CF Acquisition with a Buy rating and announced a price target of 12 Virgin Galactic Holdings Inc fell 71 to 584 after Bernstein downgraded the stock from Market Perform to Underperform Enphase Energy Inc fell 61 to 29799 after Guggeheim downgraded the stock from Buy to Neutral Smith Wesson Brands Inc declined 6 to 1263 after the company reported worse than expected Q1 EPS and sales results Zumiez Inc shares fell 43 to 2540 after the company reported weaker than expected sales for its second quarter and also issued Q3 sales guidance below analyst estimates American Axle Manufacturing Holdings Inc dropped 42 to 946 B of A Securities downgraded American Axle from Buy to Neutral and lowered the price target from 16 to 13

The global cryptocurrency market cap fell 27 to 109 trillion on Tuesday evening as investors awaited key consumer price index data See Also How To Get Free Crypto Why It Matters Bitcoin and Ethereum traded in the red at press time as the cryptocurrency rally cooled Stock futures were flat at press time Cryptocurrencies have recently seen a correlation with tech stocks and those exhibited weakness on Tuesday after a major chip firm delivered a revenue warning Stock investors exercised caution ahead of Wednesday’s inflation number release “Bitcoin’s rally is stalling as crypto traders need to see what happens with tomorrow’s inflation report” said Edward Moya a senior market analyst in a note seen by Benzinga “Inflation is what killed Bitcoin late last year and if pricing pressures are showing significant signs of easing Bitcoin might be able to burst above its recent trading range” Cryptocurrency trader Michaël van de Poppe tweeted that Bitcoin’s trend is upwards but a correction is taking place due to CPI fears If the coin holds above the 21300 mark it could continue to trend and if it breaks above 24500 it could continue on to 28000 The apex coin has flipped support as on Monday’s close at 23450 Last time it did so in 2021 Bitcoin rallied 26 said Justin Bennett “​​Inflation data on Wednesday and Thursday so expect volatility” said the trader Trader projections aside the community doesn’t believe that Bitcoin and other coins will continue rising back to “ prosperous levels” according to sell hashtag mentions on Twitter Reddit and Discord said Santiment The on chain and social analysis platform said the spike in sell interest has hit a 2 month high Ahead of the Ethereum merge scheduled for mid September traders are long as reflected through options activity for that month however the situation changes thereafter according to Glassnode “Both futures and options market are in backwardation after September suggesting traders are expecting the Merge to be a buy the rumor sell the news style event and have positioned accordingly” said the on chain analysis firm in a weekly blog post Backwardation refers to a situation where the spot price of an asset is higher than its forward price Glassnode noted that call options dwarf put options for size and traders are better on Ethereum prices above 2200 with considerable open interest even at the 5000 level However this changes in October and the dramatic decline is visible on the right tail which suggests there is lower demand for ETH exposure through options after the Merge concludes Read Next JP Mogan Says Crypto Markets Have Found A Floor Why Bitcoin Ethereum May Have Bottomed

A whale with a lot of money to spend has taken a noticeably bearish stance on Upstart Hldgs Looking at options history for Upstart Hldgs UPST we detected 18 strange trades If we consider the specifics of each trade it is accurate to state that 38 of the investors opened trades with bullish expectations and 61 with bearish From the overall spotted trades 14 are puts for a total amount of 718478 and 4 calls for a total amount of 240900 Taking into account the Volume and Open Interest on these contracts it appears that whales have been targeting a price range from 700 to 1000 for Upstart Hldgs over the last 3 months In terms of liquidity and interest the mean open interest for Upstart Hldgs options trades today is 96407 with a total volume of 603800 In the following chart we are able to follow the development of volume and open interest of call and put options for Upstart Hldgs s big money trades within a strike price range of 700 to 1000 over the last 30 days Upstart Hldgs Option Volume And Open Interest Over Last 30 Days Where Is Upstart Hldgs Standing Right Now With a volume of 4701104 the price of UPST is down 586 at 8382 RSI indicators hint that the underlying stock is currently neutral between overbought and oversold Next earnings are expected to be released in 3 days What The Experts Say On Upstart Hldgs Citigroup has decided to maintain their Buy rating on Upstart Hldgs which currently sits at a price target of 180 FBN Securities downgraded its action to Outperform with a price target of 150 Morgan Stanley has decided to maintain their Equal Weight rating on Upstart Hldgs which currently sits at a price target of 88 Options are a riskier asset compared to just trading the stock but they have higher profit potential Serious options traders manage this risk by educating themselves daily scaling in and out of trades following more than one indicator and following the markets closely If you want to stay updated on the latest options trades for d companyname Benzinga Progives you real time options trades alerts

On CNBC’s Halftime Report Final Trades Joshua Brown of Ritholtz Wealth Management named Shake Shack Inc NYSESHAK as his final trade TD Cowen analyst Andrew Charles recently reiterated Shake Shack with a Market Perform and maintained a 75 price target Liz Young of BNY Mellon Investment Management pickedHealth Care Select Sector SPDR Fund NYSEXLV Don’t forget to check out our premarket coverage here Joseph Terranova of Virtus Investment Partners namedDR Horton Inc NYSEHUM saying stay with homebuilders DR Horton reported sales of 797 billion a slight decline of 033 year over year beating the consensus of 647 billion for the second quarter of 2023 Benzinga s analyst rating data shows a consensus Outperformrating on HUM Stephen Weiss of Short Hills Capital Partners said Lennar Corporation NYSELEN reported great quarterly numbers Lennar reported better than expected second quarter results and raised its full year outlook the company s stock is up 32 year to date Price Action Lennar shares rose 13 to settle at 12158 while DR Horton shares rose 17 to close at 11832 on Tuesday Shake Shack shares gained 4 to close at 7399 during Tuesday’s session Check This Out Top 5 Defensive Stocks That May Rocket Higher This Quarter

The Bloomberg Global Aggregate Bond Index unhedged which measures the state of the world s bond markets is down about 21 from a year ago To put this into perspective a rout like this has not affected global fixed income investors since official data collection started in 1990 Even the 10 drawdown experienced during the global financial crisis has been surpassed Additionally the broad market index for stocks has declined by 23 for the year reflecting the overall decrease in equities Since the start of the aggregate bond index in the middle of the 1970s we have not experienced a year when both equity and fixed income were down The bond markets have taken the brunt of the impact of central bankers being caught off guard by escalating inflationary pressures The skyrocketing inflation has been driven by historically tight labor markets rising commodity prices as a result of the conflict in Ukraine and Covid lockdowns in China Depending on the source Vanguard says bonds saw their worst first half performance since either before the Civil War or George Washington was president Also Read This 7 Yielding ETF Was Ravaged By Ukraine War Is Now The Time To Buy Why are bonds performing so poorly There could be a few reasons The strong tightening of repricing Investors are currently anticipating rate increases through the end of the year with the so called dot plot showing interest rates will likely reach 44 by December above the 34 projected in June and will continue rising to 46 next year Portfolio protection is becoming more important High quality fixed income investments often perform better in this climate as recessionary worries increase The UK has entered a recession as a result of the possibility that Europe s energy supply may be cut off more abruptly than anticipated Demand from institutions should be strong After years of struggling with paltry yields this year s dramatic increase in rates is likely to result in brisk demand from insurance and pension funds Many institutions will now be eager to lock in the recent rate increase to offset longer term liabilities because of their favorable financing status

A whale with a lot of money to spend has taken a noticeably bearish stance on PayPal HoldingsLooking at options history for PayPal Holdings NASDAQPYPL we detected 42 strange tradesIf we consider the specifics of each trade it is accurate to state that 38 of the investors opened trades with bullish expectations and 61 with bearishFrom the overall spotted trades 18 are puts for a total amount of 1956896 and 24 calls for a total amount of 1674934What s The Price TargetTaking into account the Volume and Open Interest on these contracts it appears that whales have been targeting a price range from 500 to 2500 for PayPal Holdings over the last 3 months Volume Open Interest DevelopmentIn terms of liquidity and interest the mean open interest for PayPal Holdings options trades today is 204039 with a total volume of 2076900In the following chart we are able to follow the development of volume and open interest of call and put options for PayPal Holdings s big money trades within a strike price range of 500 to 2500 over the last 30 daysPayPal Holdings Option Volume And Open Interest Over Last 30 Days Biggest Options Spotted SymbolPUTCALLTrade TypeSentimentExp DateStrike PriceTotal Trade PriceOpen InterestVolume PYPLPUTTRADEBEARISH012023160003547K11K150 PYPLCALLTRADENEUTRAL11182290003540K49K14K PYPLPUTSWEEPBEARISH012023250003220K40962 PYPLCALLSWEEPBEARISH11182296002516K90546 PYPLPUTSWEEPBEARISH011924110001549K54K67 Where Is PayPal Holdings Standing Right Now With a volume of 12061228 the price of PYPL is up 593 at 8826 RSI indicators hint that the underlying stock may be approaching overboughtNext earnings are expected to be released in 9 days What The Experts Say On PayPal Holdings Truist Securities has decided to maintain their Hold rating on PayPal Holdings which currently sits at a price target of 90 Atlantic Equities has decided to maintain their Overweight rating on PayPal Holdings which currently sits at a price target of 110 Options are a riskier asset compared to just trading the stock but they have higher profit potential Serious options traders manage this risk by educating themselves daily scaling in and out of trades following more than one indicator and following the markets closelyIf you want to stay updated on the latest options trades for PayPal Holdings Benzinga Pro gives you real time options trades alerts

Regency Centers CorpNASDAQREG announced the acquisition ofUrstadt Biddle Properties IncNYSEUBA in anall stock transaction for around 14 billion including the assumption of debt and preferred stock As per the deal UBA s common stockholders will receive 0347 of a newly issued REG share for each UBA or UBP share they own representing around 2040 per share based on REG s closing share price on May 17 2023 The price represents a premium of over 20 to UBA s May 17 2023 closing price The combined company is expected to have a pro forma equity market capitalization of about 11 billion and a total enterprise value of around 16 billion The combined portfolio will comprise 481 total properties containing over 56 million square feet of gross leasable area REG will own around 93 of the combined company post deal closure while UBA will own the rest The company expects the acquisition to be immediately accretive to core operating earnings including annual cost saving benefits of around 9 million The transaction is expected to close by late Q3 or early Q4 2023 Lisa Palmer President and CEO said The portfolio that Urstadt Biddle has carefully assembled over more than 50 years offers a highly aligned demographic and merchandising profile to Regency Both companies have a successful track record of owning and operating best in class grocery anchored neighbourhood and community centers in premier suburban trade areas and we look forward to the synergies and growth opportunities that this transaction will offer to the combined shareholder base Price Action UBA shares are trading higher by 187 at 2012 on the last check Thursday

Hikma Pharmaceuticals PLC on Thursday reiterated its full year guidance and said that it is increasingly seeing the effects of the inflationary environment on costs The multinational pharmaceutical group said Injectables unit revenue growth is seen in the mid to high single digits For the Branded division revenue is seen to grow in the mid single digits and Generics revenue is seen in the range of 650 million to 675 million Inflation is being managed through cost control it said adding that the core net finance expense is now expected at around 74 million from previous guidance of around 68 million Shares in Hikma at 0817 GMT were up 3150 pence or 25 at 131450 pence

Regional bank stocks spiraled lower Wednesday as investors weighed the Federal Reserve s latest interest rate hike and commentary about the health of US financial institutions The SPDR SP Regional Bank ETF KRE was recently down 42 and it hit a session low during Fed Chair Jerome Powell s press conference First Republic Bank is down 12 while PacWest Bancorp slid nearly 14 The fate of regional banks has been in question since the closure of Silicon Valley Bank sparked a broader industry crisis First Republic and PacWest have dropped approximately 88 and 61 respectively since the month began pulling the KRE down roughly 27 over the same period Wednesday s moves come on the back of the Fed s decision to implement a quarter percentage point interest rate hike while Fed projections signaled there will only be one more hike this year The Federal Open Market Committee said in its statement that the US banking system was resilient while noting recent turmoil could impact the economy The US banking system is sound and resilient the FOMC said in its statement Recent developments are likely to result in tighter credit conditions for households and businesses and to weigh on economic activity hiring and inflation Powell said during his press conference that the weaknesses seen in Silicon Valley Bank were not apparent in the broader sector He also said deposits in the banking system have stabilized over the last week What I m saying is you ve seen that we have the tools to protect depositors when there is a threat of serious harm to the economy or to the financial system and we re prepared to use those tools Powell said I think depositors should assume that their deposits are safe First Republic shed nearly 70 last week as investors grew increasingly skittish despite a pledge from a group of banks to inject 30 billion in deposits into it The move was meant to be a sign of confidence but First Republic is weighing additional steps CNBC reported Monday that JPMorgan was advising the bank on plans to help it including a capital raise or sale PacWest said Wednesday that it had lost more than 6 billion in deposits as the future of midsized banks were questioned in recent days But the bank said it did not have plans to raise more capital Treasury Secretary Janet Yellen said Tuesday that the government was willing to take further action to assure that deposits were safe including backstopping if there were any risks of contagion

US traded crude oil futures retreated on Monday while natural gas prices climbed to a fresh 14 year high as fears about shortages in Europe also impacted the US market West Texas Intermediate crude for September delivery CLU22 was down 2 with the front month contract worth 8864 per barrel on the New York Mercantile Exchange October Brent crude BRNV22 was also down 18 at 9492 per barrel on ICE Futures Europe Back on Nymex September gasoline RBU22 was marginally lower at 300 per gallon while September heating oil HOU22 added 6 cents or 17 to 3724 a gallon September natural gas prices NGU22 surged 56 to 9834 per million British thermal units its highest level since the summer of 2008 What analysts are saying Crude oil prices were choppy in early trading fluctuating between slight gains and losses as a number of factors influenced prices according to Craig Erlam senior markets strategist at OANDA “There remain many factors influencing the oil price right now from a tight market to a diminishing growth outlook and a potential Iran nuclear deal” Erlam said But natural gas stole the spotlight on Monday as prices in the US surged to fresh 14 year highs A team of energy analysts at ING attributed the move in gas prices to Russia’s decision to halt flows to Europe along the Nord Stream 1 pipeline See Pain in Europe worsens with natural gas prices up nearly 20 as Russia readies to shut down vital pipeline again “Gazprom announced that flows along its Nord Stream 1 pipeline will come to a halt so that maintenance can be carried out at a compressor station Maintenance is expected to last for 3 days and the real concern for the market is whether flows will resume after this period” the ING analysts said in a note

Shares of CMO Group PLC fell Friday after the group downgraded its guidance for 2022 due to a miscalculation of the Total Tiles stock valuation and a worsened customer backdrop Shares at 1624 GMT were down 50 pence or 15 at 295 pence The London listed online retailer of general building materials said that its full year adjusted earnings before interest taxes depreciation and amortization which strips out exceptional and other one off items is expected to be around 22 million pounds 27 million The company previously expected adjusted Ebitda similar to 2021 levels when it reported GBP37 million The guidance downgrade includes a GBP700000 Ebitda cut from Total Tiles stock valuation The issue was caused by human error which resulted in the overestimation of achievable margins during the second half the company said Revenue for 2022 is expected to come it at around GBP84 million below the previous guidance of at least GBP86 million We do not expect fulfillment of the order book to unwind at the usual pace in the balance of the year because of stock availability and customers extending the completion times of their projects Further changes in customer buying patterns have shifted some product sales to lower margin categories We anticipate this trend continuing as the market adapts to the cost of living challenges CMO said

Shares of General Motors Co GM surged 51 in morning trading Tuesday toward a six week high after the auto maker said it the semiconductor supply issues that have plagued the auto industry improved during the fourth quarter The company said it delivered 440745 vehicles in the fourth quarter down 43 from a year ago when quarterly retail sales were the best in 13 years Dealer inventory including in transit vehicles on their way to dealers totaled 199662 at the end of the fourth quarter up 55 from a record low of 128757 at the end of the third quarter GE said it delivered 22 million vehicles in 2021 and extended its streak as the leader in combined full size and mid size pickup sales to eight years For 2022 GM said it expects economic growth in the US and improving semiconductor availability to lift total US light industry sales to 16 million from 15 million in 2021 The key constraint for sales continues to be reduced inventory levels as a result of the semiconductor shortage said GM Chief Economist Elaine Buckberg Those inventory levels are beginning to recover against a backdrop of strong fundamental demand conditions with ample job openings high household savings and low interest rates GM s stock which has was headed for a fifth straight gain and 10th gain in 11 sessions has soared 191 over the past three months while the SP 500 SPX has gained 116

Bond yields rose on Tuesday as the Fed’s determination to fight inflation with even higher borrowing costs continued to weigh on Treasury prices The cash Treasury market returned from its long weekend with benchmark yields hovering around cycle highs as fretting about high inflation and tighter Federal Reserve policy continued to pressure fixed income assets The benchmark 10 year Treasury yield TMUBMUSD10Y again briefly popped above 4 challenging its highest level since 2008 “Comments from Fed members have reiterated the determination to combat inflation while accepting that the effect of the rate rises hitherto would not fully be seen for some months to come” said Richard Hunter head of markets at Interactive Investor Cleveland Fed President Loretta Mester is due to speak at the Economic Club of New York at 12 noon The New York Fed 5 year inflation expectations survey for October will be published at 11 am Eastern Time Traders were looking ahead to reports and data later in the week to be potential catalysts for the next moves On Wednesday the US producer prices data for September and the Fed’s previous rate setting meeting minutes will be released Thursday will see the US September consumer prices data published “The next key test for yields as we believe we are nearing ‘peak hawkishness’ from the Fed soon is more Thursday’s US CPI data point than tomorrow’s FOMC minutes which may contain few surprises given nearly all Fed members are on the same page in supporting the current tightening regime” said strategists at Saxo Bank in a morning note Markets are pricing in a 79 probability that the Fed will raise interest rates by another 75 basis points to a range of 375 to 400 after its meeting on November 2nd The central bank is expected to take its Fed funds rate target to 468 by April 2023 according to the CME FedWatch tool Also pressuring bond prices of late has been turmoil in the UK gilt market which experienced a spiral of selling after investors were spooked by the government’s plan for large debt funded tax cuts The Bank of England on Tuesday again expanded its intervention into the market to protect pension funds from forced liquidations of bond portfolios However after initially falling sharply following the BoE’s initial buying 30 year gilt yields TMBMKGB 30Y have moved back up to 471 near their highest levels since the great financial crisis in 2007

iEnergizer Ltd said Wednesday that first quarter revenue and Ebitda rose reflecting growth across all divisions and that it is terminating its formal sale process or FSP The London listed provider of business outsourcing service said that given its current performance was ahead of expectations with improved margins the board felt it was in the company s best interest to withdraw the FSP The company confirmed that it was no longer in active discussions with any interested parties or considered to be in an offer period iEnergizer said revenue in the first quarter rose 30 to 741 million while earnings before interest taxes depreciation and amortization were up 39 to 286 million The board said it remained confident in the company s future outlook and in its expected performance for the remainder of fiscal 2023 The business has seen growth across all verticals in particular due to current inflationary pressures which have driven multinationals to focus not only on cost reduction but also revenue retention the company said Shares at 1442 GMT were up 19 pence or 43 at 465 pence

E commerce dates to 1948 during the Berlin Blockade crisis when people ordered goods via telex The debut of the World Wide Web in 1991 and the development of a web browser in 1993 shifted e commerce from telex to the internet The global increase in smartphones and the accessibility of fast internet connectivity over the years has significantly accelerated the growth of the industry as more people can purchase goods via mobile devices such as tablets and even wearables China home of Alibaba Group Holding Ltd BABA and the US where Amazoncom Inc AMZN and eBay Inc EBAY reside have been the top countries where e commerce has grown at a healthy rate But things might be changing Southeast Asia is expected to experience the largest worldwide growth in e commerce with an increase of 206 in 2022 according to Insider Intelligence Only four countries including the Philippines will surpass the combined growth rate of Southeast Asia E Commerce In The ICT Hub Of Asia The Philippines dubbed the information and communications technology ICT hub of Asia ranks first in 2022 e commerce sales surpassing the US by 10 E commerce in the Philippines has grown from 678 billion in 2017 to nearly 21 billion in 2022 with expectations of reaching 327 billion in 2025 Consumer preference for shopping online and the increasing internet penetration are behind the growth in e commerce sales in the Philippines where people spend an average of 10 hours per day online The government also has taken various initiatives to bolster the sector The Philippine E commerce Roadmap 2022 was launched in January 2021 to encourage the use of e commerce by small and medium enterprises SMEs and increase online shopping confidence Rising consumer preference for online shopping the increasing number of online merchants proliferation of alternative payment solutions and government support will support e commerce sales in the Philippines The market is forecasted to grow at a compound annual growth rate of 17 over the next five years Global Data Banking and Payments Senior Analyst Shivani Gupta said In addition to buying and selling goods on leading platforms such as Lazada and Sea Ltd’s SE Shopee Philippines Filipinos shop on social media platforms The social commerce market is expected to reach nearly 682 million this year thanks to the growing number of people flocking to social media platforms to buy products Companies like Belo Medical Group and Shopee Philippines are using social media platforms such as TikTok to increase sales Penetrating The E Commerce Market In The Philippines Society Pass Inc SOPA says it is on track to infiltrate the fastest growing e commerce market in Southeast Asia through acquisitions Established in 2018 Society Pass SoPa has quickly scaled up its operations in Southeast Asia and South Asia through its e commerce platforms and acquisitions The company has acquired a number of companies including the restaurant delivery app Manganph Gorilla Networks a next generation Web3 mobile virtual network operator and HOTTAB Biz a business management platform The acquisition of online grocery shopping and delivery platform Pushkartph is expected to increase SoPa’s revenue by 891 over last year Pushkart boasts having more than 125000 users and 20000 mobile app downloads Pushkart is looking to expand its presence beyond metro Manila The company recently announced plans to expand in cities across the Cavite and Pampanga provinces which have a population of over 6 million people Pushkart President and CEO Michael Lim said this is the beginning of the company’s goal to expand to other parts of the country and across Southeast Asia Sopa recently acquired Manganph “Mangan” the leading local restaurant delivery service in the Philippines Founded in 2017 Mangan delivers restaurant food from over 1200 partner restaurants through its over 200 rider network to its over 500000 registered users Thus far Mangan has generated more than 100000 mobile app downloads and accumulated over 80000 social media followers Operating in Pampanga the culinary capital of the Philippines Mangan’s geographic reach extends to 16 other cities including Angeles City San Fernando Clark Dau Mabalacat Guagua Lubao Tarlac Bataan Magalang Pasig Cabanatuan Baguio Lipa Batangas Antipolo City Dagupan City The newly acquired business will be integrated into SoPa’s FB vertical Push Delivery Pte Ltd along with Pushkart and HOTTAB ​​ This post contains sponsored advertising content This content is for informational purposes only and is not intended to be investing advice

JM Smucker Co posted lower profit for the fiscal first quarter even as sales rose slightly despite the impact from the company s recall of certain Jif peanut butter products which hurt both sales and profit The maker of Folgers coffee and Smucker s jam posted a profit of 1098 million for the three months ended July 31 compared with 1539 million a year earlier Earnings were 103 a share compared with 142 a share Stripping out one time items adjusted earnings came to 167 a share Analysts surveyed by FactSet had expected adjusted earnings of 127 a share Sales rose about 1 to 187 billion Stripping out the effects from divestitures and currency fluctuations sales rose 4 the company said The company s May recall of some of its Jif peanut butter products after possible salmonella contamination hurt sales by 9 the company said Analysts surveyed by FactSet had been looking for sales of 187 billion The recall also hurt income as mix and volume of sales were affected by manufacturing downtime tied to the recall the company said Customer returns of recalled products and fees associated with the recall also held back profit for the recently ended quarter Smucker said Chairman and Chief Executive Mark Smucker said demand for the company s products held up despite rising costs throughout the economy Our teams have done outstanding work to manage headwinds from cost inflation industrywide supply chain challenges and the Jif peanut butter recall he said Write to Will Feuer at WillFeuerwsjcom

The most overbought stocks in the communication services sector presents an opportunity to go short on these overvalued companies The RSI is a momentum indicator which compares a stock s strength on days when prices go up to its strength on days when prices go down When compared to a stock s price action it can give traders a better sense of how a stock may perform in the short term An asset is typically considered overbought when the RSI is above 70 Here’s the latest list of major overbought players in this sector Cardlytics Inc NASDAQCDLX Cardlytics posted a narrower than expected quarterly loss We are excited to move past the determination of the First Anniversary Earnout Payment said Karim Temsamani Chief Executive Officer As I have said in prior quarters our success hinges on our ability to execute with a disciplined approach It also hinges on our teams being laser focused on supporting our product initiatives and the needs of our partners We are not stopping in our journey to create the best possible version of Cardlytics The company’s stock has a 52 week high of 1821 RSI Value 7301 CDLX Price Action Shares of Cardlytics fell 66 to close at 912 on Friday FingerMotion Inc NASDAQFNGR FingerMotion posted a narrower loss for the first quarter The Chinese lockdowns are over now but during the quarter they still had an impact on the Company s revenue mix said Martin Shen CEO of FingerMotion The Company managed the quarter by focusing available resources to the top up business The company’s stock has a 52 week high of 980 RSI Value 7005 FNGR Price Action Shares of FingerMotion fell 53 to close at 570 on Friday Snap Inc NYSESNAP Snap recently introduced a revenue sharing program to entice creators back to its platform allowing them to earn a portion of the ad revenue generated by their content The company has a 52 week high of 1655 RSI Value 7362 SNAP Price Action Shares of Snap fell 27 to close at 1315 on Friday Angi Inc NASDAQANGI Angi reported better than expected first quarter EPS and sales results The company’s 52 week high is 631 RSI Value 7063 ANGI Price Action Shares of Angi fell 26 to close at 376 on Friday Meta Platforms Inc NASDAQMETA TD Cowen recently upgraded Meta Platforms from Market Perform to Outperform and raised the price target from 220 to 345 The company has a 52 week high of 31624 RSI Value 7146 META Price Action Shares of Meta Platforms fell 15 to settle at 30887 on Friday Read More Robinhood Pinterest And 2 Other Stocks Insiders Are Selling