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5 High Short Interest Stocks Getting Squeezed With Upside To Go 2024-04-05 13:25:00+00:00 - Key Points High short interest is fueling rallies in these stocks with upside to go. Analysts support these markets with growth or a pivot to growth expected in 2024. All provide value, yield, or both. 5 stocks we like better than Super Micro Computer High short interest is a recipe for sharp stock price movements, and when the shorts are getting squeezed, the movements can be the sharpest. The stocks on this list are not only high-short interest stocks with upward price pressure; they are among the most shorted stocks listed on Marketbeat’s platform, offer some value, have positive market sentiment, and a forecast for growth. In many cases, the squeeze is already on; in all cases, there is still an upside for investors. Get Super Micro Computer alerts: Sign Up Cummins Short-Sellers Are Selling Into The Rally Cummins NYSE: CMI short-sellers are selling into the rally despite the stock setting a new high on solid results and outlook. The stock still provides value at 16X this year’s earnings, and although a small earnings contraction is expected for F2024, a pivot back to growth is expected with the turn of the next fiscal year. The dividend is rock solid at 2.28%, growing, and reliable. The latest increase is the 18th consecutive and sets the company up to become a Dividend Aristocrat by the decade's end. That’s a tailwind for price action to aid the share price for the next six years. Analysts rate the stock at Hold but lead the market higher with revisions. The consensus lags the price action by 7%, but the freshest targets since the last report are above it. The stock price may pull back from its current levels, but the dip, if it comes, would be an attractive entry point. Canadian Natural Resources Could Double In Price Short-sellers are selling into the Canadian Natural Resources NYSE: CNQ rally despite the technical outlook, which suggests the stock price could double again from current levels. The market broke out of a bullish triangle to the upside following a $60 rally, which suggests a $60 to 200% upward movement. The market is supported by the expectation for flattish results this year, a potentially cautious outlook, and a pivot back to growth next year. Because the stock trades at 12X next year’s earnings and pays 3.5% in yield, it is a value and high-yield. You might think 12X is fair compared to other energy stocks, but the entire complex is undervalued based on the potential of forward earnings. Analysts rate this stock as a Hold and see it advancing by 6% at the range’s low end, 16% at the consensus, and the consensus is trending higher. Super Micro Computer Inc. Rockets Higher on AI Boost Super Micro Computer NASDAQ: SMCI is rocketing higher on a boost from AI. The boost has the value surging to above 40% and the short-interest high, but the value is based on this year’s earnings. The benefit from AI will be seen fully next year when the outlook has valuation falling to 30X and back in line with leading tech plays. The consensus price target lags the market, but analysts are bullish. They rate the stock as a Moderate Buy and have raised their price targets. The freshest targets imply more than 1000 basis points of upside at the range’s low end; the new high target suggests another 50% upside. T-Mobile US Short-Sellers Are Closing Positions T-Mobile's NASDAQ: TMUS short interest runs about 5% but was higher. The latest report shows short interest is falling, likely lower now. The company expects growth this year and next, and the bar is set low for this 5-G winner. Analysts rate the stock as a Buy and are leading the market higher with revisions. The consensus assumes 15% at the midpoint, the low end of the range supports the current action, and the consensus is rising. General Motors Signals a Market Reversal General Motors NYSE: GM short interest is falling but still high enough at the last report for short-covering to aid upward movement in the price action. Technically, the stock price recently broke above critical resistance, signaling a market reversal that should lead it higher. Analysts rate General Motors as a Moderate Buy with a 15% upside at the consensus, and revisions support the market. Before you consider Super Micro Computer, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Super Micro Computer wasn't on the list. While Super Micro Computer currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here
Intel's Foundry Woes: Sell Signal or Silver Lining Ahead? 2024-04-05 12:45:00+00:00 - Key Points Intel's shares plunged after it reported a $7 billion operating loss in 2023 for its semiconductor manufacturing division, marking a significant downturn in its once-bullish trend. CEO Pat Gelsinger forecasts a turnaround by 2027 despite past missteps, aiming to reduce outsourcing and invest $100 billion in chip factories across the U.S. Institutional inflows into Intel remain impressive, with investments totaling $22.72 billion over the past twelve months, signaling continued confidence from sophisticated investors despite recent challenges. 5 stocks we like better than Intel Shares of Intel NASDAQ: INTC, one of the world's leading manufacturers of microchips and microchip-enabled products and services, recently broke below a significant consolidation and its 200-day Simple Moving Average (SMA). The considerable momentum shift and a recent negative catalyst have turned the once-bullish formation into a bearish trend with potential downside momentum. Shares have slid close to 10% in the week following breaking news. On Tuesday, the company released financials for its semiconductor manufacturing division, revealing a $7 billion operating loss in 2023. This marked the first time Intel reported revenue separately for its foundry arm, which contrasted with the $11.3 billion operating income from its products business in 2023. Get Intel alerts: Sign Up Despite the losses, Intel expects its foundry division to break even by 2027, with analysts noting the necessity of driving operating margins higher. While Cantor Fitzgerald maintained a neutral stance with a $50 price target, Stifel analysts expressed positivity toward Intel's strategic plans but reiterated a hold rating with a $45 target price. Due to Intel's multi-year execution cycle ahead, Stifel analysts favor nearer-term beneficiaries like NVDA and AMD. As shares enter bear market territory on the year, down 20.94% year-to-date, and a bearish look on the chart, let’s take a closer look at Intel to see whether it's time to sell or time to double down. Foundry Business Weighed Down By Bad Decisions During an investor presentation, Intel's CEO Pat Gelsinger projected 2024 as the year with the most significant operating losses for the company's chipmaking business, with an expectation to break even operationally around 2027. Gelsinger attributed the struggles of the foundry business to past decisions, including hesitance towards adopting extreme ultraviolet (EUV) machines from ASML, which are cost-effective despite their high initial investment. Intel's outsourcing of approximately 30% of wafer production to external manufacturers like TSMC, a figure they aim to reduce to around 20%, was partly due to these missteps. The company has transitioned to EUV tools to enhance competitiveness, especially as older machines are phased out. Intel also announced plans to invest $100 billion in expanding chip factories across four U.S. states, banking on attracting external companies to utilize its manufacturing services as part of its turnaround strategy. This includes reporting manufacturing operations as a separate unit and significant investments to rival primary competitors like TSMC and Samsung Electronics. Analysts Remain Neutral Based on twenty-eight analyst ratings, Intel has a hold rating, which is in line with the consensus S&P 500 rating but worse than the moderate buy consensus rating for computer and technology companies. The consensus price target for INTC is $42.86, forecasting a close to 8% upside. Following the news this week, several analysts took action on INTC. On April 3, Benchmark reiterated its rating for INTC as a buy along with its street-high price target of $62. That high forecast sees a potential 50% upside for shares of INTC. C. Muse from Cantor Fitzgerald reiterated his neutral rating on the same day, with a $50 price target, which sees almost 22% upside for the stock. Wedbush reiterated its neutral rating on April 3 and its price target of $40 for INTC, which is below the consensus and sees almost 9% downside for the stock at the time of the report date. Institutions Continue to Buy Over the previous twelve months, institutions have continued to purchase shares of Intel at a fast pace. Total institutional inflows for the last twelve months were $22.72 billion, compared to $8.61 billion in institutional outflows. The net institutional flows were $14.09 billion, the most significant inflows into Intel shares in recent years. Significant inflows might influence Intel's price stability and indicate confidence from sophisticated investors. For those reasons, monitoring the institutional flows in the second quarter will be essential to note whether institutions are continuing to purchase Intel shares despite the losses experienced in their foundry business. Before you consider Intel, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Intel wasn't on the list. While Intel currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here
3 Stocks With Hot RSIs That Scream Further Gains 2024-04-05 12:35:00+00:00 - Key Points Across the board, equities have been enjoying a stellar multi-month run. For the strongest performers, this means they can appear extremely overbought. However, hot RSI readings can actually indicate that there's a ton of more momentum coming, and further gains are imminent. 5 stocks we like better than EMCOR Group With gains of almost 30% since November, it's been one of the better multi-month runs in the S&P 500 in recent memory. It's looking increasingly likely that inflation has been tamed by a Fed that's managed to thread the needle and get it under control without causing a recession. Most stocks have been enjoying a widespread boom as a result. But with such solid, and in many cases one-way, gains in recent months, there's an argument to be made that some stocks are starting to look a little overheated. One way to see this is through a stock's relative strength index (RSI). The RSI considers a stock's recent trading momentum and spits a reading between 0 and 100, indicating whether a stock is overbought or oversold; readings above 70 suggest overbought conditions, while readings below 30 indicate oversold conditions. Get EMCOR Group alerts: Sign Up A heavily oversold stock can often offer an interesting buying opportunity, while a heavily overbought stock can often warrant caution. However, looking for stocks that meet the latter criteria can often turn up stellar names that look a little frothy but hold some of the most remaining upside. Let's take a look at 3 such names. Emcor is a $16 billion engineering and construction company based in Connecticut, and its shares have been on an absolute tear since the start of the year. Having already logged an impressive 2023, with gains of 120% in the second half alone, they've since added a further 70%. The stock's RSI has been above 70 since the middle of February, which interestingly has done little to slow down the relentless march north in the meantime. This goes back to our earlier point of a red-hot RSI, often suggesting there's a ton of upside yet to be realized. Yesterday saw shares log just their seventh red day since February, and the MACD has registered a negative crossover, so we could be looking at a timely pause. For those of us on the sidelines, this could be perfect timing, as some profit-taking now would be healthy, as it'd set Emcor shares up for further gains after some consolidation. Like Emcor, shares of Textron have been rallying hard since the first weeks of 2024, gaining as much as 25% in that timeframe. Much of the gains came from news that the U.S. military was starting to resume its use of Textron aircraft and equipment, having previously had it all grounded following a series of fatal crashes. The aeronautical and industrial giant's RSI was as high as 82 coming into the start of this week, but interestingly, the past few sessions have seen it take its first breather in a long time. With Citigroup reiterating their Buy rating on the stock just yesterday while simultaneously boosting their price target to $111, you have to be thinking that this week's profit-taking is starting to look like a serious entry opportunity. Shares of Marathon Oil have gained some 35% since January, logging an incredible record of just 15 down days in more than three months of trading. But all that upward momentum has pushed the stock's RSI up to 88, an eye-watering level that screams overbought - at least in the near-term. But bullish analyst upgrades in recent weeks, off the back of what's been called a "strong financial foundation, low debt levels, and robust free cash flow yields," suggest further gains are imminent. Last month alone saw the Royal Bank of Canada reiterate its Outperform rating on the energy stock, the team at Argus upgrade it to a Buy, and the teams at Morgan Stanley, Goldman Sachs, and Mizuho all boost their price targets. Like with the other two on this list, a little bit of profit-taking over the coming sessions would be no bad thing, so plan your trade and potential entry points accordingly. Before you consider EMCOR Group, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and EMCOR Group wasn't on the list. While EMCOR Group currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here
Unusually High Volume Points to Upside in These Stocks 2024-04-05 11:45:00+00:00 - Key Points Candel Therapeutics volume spikes quadruple digits after positive results from a mid-stage trial. MSP Recovery volume spikes after Palantir reveals a stake in the company. Perma-Fix Environmental Services surges on successful results from a pilot plant. 5 stocks we like better than Candel Therapeutics If investing were easy, everybody would do it, and we would all be rich. But that isn't the case. Investing takes time, patience and effort, which is the focus now. Among the investment tools Marketbeat provides is a screener for unusual volume activity. Unusually high volume is often a precursor to accelerating share price movement, so it is a valuable tool. However, investors will find the list of unusual activity chock full of duds, such as SPACS and ETFs with no business and hope other than that inspired by a surge in volume. A surge in volume is one thing, but a 1000% increase doesn't mean much if only a few people are buying. However, applying a little due diligence will yield numerous opportunities with true value; all it takes is a little effort. Here's a look at three recently featured stocks with triple-digit or better volume spikes. Get Candel Therapeutics alerts: Sign Up Candel Therapeutics has Quadruple Digit Spike in Volume Candel Therapeutics NASDAQ: CADL develops immunotherapies for cancer patients and is advancing its technology. This biopharma company recently posted a quadruple-digit surge in its trading volume, a 2500% spike from 140,000 to over 3.75 million, due to positive results from a clinical trial. A mid-stage test of its leading candidate showed a significant increase in survivor rates at the critical 24- and 28-month marks for non-metastatic pancreatic cancer. Survivorship at 24 months exceeded 70% compared to only 17% for the control group. Additionally, no new safety concerns were raised, suggesting the drug can be used in multiple doses with no toxicity. This is the third surge in price and volume for this stock since Q4 2023, and the cumulative result is a bottom and market reversal. The latest surge is on track to put the volume at a record level and has the price action up nearly 35%. Because the volume is so strong and the technical signals solid, the stock price will likely advance to $3 and possibly move above it. Technical indications include bullish stochastic and MACD, both still low in their ranges, and support at the convergence of the 30- and 150-day EMAs. Marketbeat tracks only one analyst with a rating on Candel, but the sentiment is bullish, and the price action aligns with the forecast. HC Wainwright has the stock pegged at Buy with a price target of $11 or nearly 400% upside. MSP Recovery has a Recovery in Progress MSP Recovery NASDAQ: LIFW is a health-oriented data solutions platform whose volume recently spiked more than 500%. The cause is the revelation Palantir NYSE: PLTR had taken a 6.5% stake in the company. There is no news on Palantir's intent, but the message is clear: the market-leading AI-powered data analytics firm thinks this stock is a good buy. MSP Recovery is generating revenue but has yet to turn a profit. The outlook for 2024 and 2025 is for growth to accelerate at a hyper pace and for profits to follow soon. Among the opportunities for investors is an MSP Recovery buyout by Palantir or another AI data processor. Palantir is an obvious choice because it leans toward private-sector operations that include healthcare. Perma-Fix Environmental Solutions Volume Spikes 400% Perma-Fix Environmental Solutions NASDAQ: PESI volume has ramped higher since the start of the year and recently spiked by 400%. The cause is a pivot to profits that precedes what the company CEO described as a transformative year. Recent news includes successfully testing a pilot plant for destroying "forever chemicals," a potentially billion-dollar business. No analysts rate this stock, but the institutional side is getting interested. Institutional inflows have outpaced outflows for over two years, and activity has ramped up over the last three quarters. Institutions own about 25% of the stock; ownership is broad and growing. Before you consider Candel Therapeutics, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Candel Therapeutics wasn't on the list. While Candel Therapeutics currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here
Families of people kidnapped by Hamas deplore Gaza violence and demand release of hostages 2024-04-05 11:04:00+00:00 - The families of American citizens kidnapped by Hamas in Israel nearly six months ago told NBC News’ Lester Holt on Thursday that they decry the killings of innocent civilians in Gaza and pleaded with the international community to remain focused on the plight of their loved ones still in captivity. “There’s not a single person here who does not want to make sure that the people that are living in Gaza are safe [and] that they are taken care of,” said Liz Hirsh-Naftali, the great-aunt of Abigail Mor Edan, a 4-year-old girl who was released from Hamas captivity in late November. “But where we are now is that we are a humanitarian group that is looking out, because we have to, for these hostages. … We have no choice,” Hirsh-Naftali added. She was referring to herself and the 11 other people who had assembled in New York for a group interview nearly half a year after Hamas militants stormed their homes and kibbutzim. Hirsh-Naftali and others strongly condemned an Israeli military strike earlier this week that killed seven people working for a World Central Kitchen convoy in Gaza. (Israel said the killings were a "grave mistake.") The families gathered Thursday shortly after President Joe Biden told Israeli Prime Minister Benjamin Netanyahu on the phone that the humanitarian situation in Gaza was “unacceptable,” according to the White House. Liz Hirsh-Naftali. Vanessa Leroy / NBC News Gillian Kaye, the stepmother of Israeli American hostage Sagui Dekel-Chen, denounced the “horrific loss of life” in the Gaza Strip since the start of Israel’s retaliatory military campaign, saying in part: “How can you not look at [Gaza] and not feel unbelievable sympathy for the suffering that’s going on there?” But amid the brutal toll of the Israel-Hamas war, Kaye said she is concerned the world is starting to forget about the people who were violently captured in southern Israel on Oct. 7, igniting a brutal conflict that has devastated the Gaza Strip, jeopardized the stability of the Middle East and provoked intense political divides around the world. Gillian Kaye and Jonathan Dekel-Chen. Vanessa Leroy / NBC News “Here we are, with our innocent loved ones hostage for 181 days, hidden in tunnels. … They kind of disappear in this horror that’s going on, and there’s no question that it feels like the world is moving on,” Kaye said. “It’s hard to struggle with that.” Hirsh-Naftali implored Netanyahu and Hamas leadership to reach a deal to stop the bloodshed and free the hostages. “He’s been talking for many months about how important hostage release is,” she said, referring to the Israeli prime minister. “We don’t have any more time for talking.” The families said they appreciated the Biden administration’s commitment to securing the release of their loved ones. Kaye said they have all had “an extraordinary amount of access” to key figures in the U.S. government, including Secretary of State Antony Blinken, national security adviser Jake Sullivan and CIA Director William J. Burns. Ronen Neutra, whose son Omer Neutra was kidnapped by Hamas militants, said he nonetheless believes both the U.S. and Israeli governments should be doing more to free the hostages. Ronen Neutra, father of hostage Omer Neutra. Vanessa Leroy / NBC News “They need to pull every lever,” Neutra said, “and it hasn’t been done, or else we would have had our dear ones back home.” Rachel Goldberg, whose son Hersh Goldberg-Polin was recorded on video being loaded onto a pickup truck with one of his arms blown off, said she believes many people do not realize that the 134 people believed to remain in Hamas captivity come from all backgrounds and faith traditions. “You very rarely hear about the eight Muslim Arabs being held with our eight American citizens as hostages. You very rarely hear about the seven young men from Thailand who are Buddhist [and] who are still being held with our hostages,” Goldberg said. “I think there’s been a lot of noise,” Goldberg added, “and you don’t hear about all the different people from 25 different nations who are Christian, Jews, Muslims, Buddhists, Hindus.” The families are anguished over the fates of their loved ones, starved for news about their condition and left fearing the worst. Jonathan Dekel-Chen, father of Sagui, said he has grown increasingly scared that dozens of the hostages are already dead, describing the issue as a “national crisis.” Rachel Goldberg, mother of hostage Hersh Goldberg-Polin. Vanessa Leroy / NBC News “I live my life in agony, in sadness,” said Yael Alexander, mother of hostage Edan Alexander. In some cases, the worst has already happened. Joel Napchan is mourning the death of his cousin's son Itay Chen, a 19-year-old who was believed to have been kidnapped on Oct. 7 but was actually killed that day, with his body abducted, according to his parents. Andrea Weinstein lost a sister, Judith Weinstein, and a brother-in-law, Gad Haggai. The people who are still waiting for the safe return of their loved ones said they cannot afford to lose hope. Emily Wesolowski, whose uncle Keith Siegel remains in captivity, said there is “no alternative” to hope. Yael Alexander, mother of hostage Edan Alexander. Vanessa Leroy / NBC News “I have seen these families,” Hirsh-Naftali said. “If they did not have hope, I don’t know how they could get up every morning.” CORRECTION (April 5, 2024, 4:55 p.m. ET): A previous version of this article misspelled the last name of a 4-year-old girl who was released from Hamas captivity last year. She is Abigail Mor Edan, not Idan.
'My Husband Passed Away And Left Me With $120K In Credit Card Debt' 70-Year-Old With Cancer Asks Strangers For Advice, Here's What They Said 2024-04-05 06:00:00+00:00 - A 70-year-old widow, who lives in Long Island, New York, faced a complex financial situation after her husband’s unexpected passing. She reached out to Reddit, seeking advice from the online community. Her circumstances involved a paid-off $650,000 home, $200,000 in money market accounts, a $45,000 IRA with early withdrawal penalties and $30,000 in life insurance proceeds. Unbeknownst to her, she was the primary holder on multiple credit cards and a $70,000 outstanding home equity loan from a $100,000 line of credit, totaling $120,000 in debt. Don't Miss: The average American couple has saved this much money for retirement — How do you compare ? Can you collect spousal social security and switch to your benefits at 67? See how ‘Jane' received up to 50% of her spouse’s primary insurance amount. The widow shared that she had been battling stage 4 cancer for the past 8 years while working as an independent contractor. Her husband had handled their finances, engaging in “games” with the IRS and accountants over back taxes, leaving her uninformed. She felt overwhelmed and unsure of what to do next, so she asked the Reddit community, “How should I proceed? Should I seek credit counseling or hire a lawyer to fight the credit card companies?” She admitted, “I’m lost.” Reddit users offered a range of advice. Many advised seeking legal counsel, as her unawareness of being the primary account holder could constitute fraud on her husband’s part. “You need a lawyer immediately,” one user emphasized. Regarding her financial decisions, users provided practical suggestions. One noted that her social security income might decrease after her husband’s passing. Another suggested consulting a bankruptcy attorney, stating, “Those minimum payments combined with the high interest rate environment are going to eat her alive.” On the topic of her IRA, a user questioned the withdrawal penalties at her age, highlighting potential state protections. “Your IRA probably is protected (varies by state) as is your dwelling.” Story continues Trending: Can you guess how many Americans successfully retire with $1,000,000 saved? The percentage may shock you. Some users recommended downsizing her home as a potential solution for retirement planning and debt repayment. “Downsizing your home might be a great option for retirement planning and paying off debts.” Others cautioned about her joint responsibility, even if unaware of being the primary holder. “You didn’t know you were primary, but if you knew you were a joint holder, even it is still equal responsibility.” Amidst the practical guidance, some users emphasized self-care, advising patience and seeking emotional support during this challenging transition. While the online community rallied to offer support and recommendations, the situation highlighted the importance of seeking professional financial guidance, especially when confronted with intricate money matters. Although the widow benefited from the compassion of strangers, it would be a smart move for her to seek out experts — a lawyer to help with the legal issues around the credit card debt and a financial adviser to plan her income and investments and help her secure her financial future. For anyone facing financial challenges or unsure about their next steps, talking to a financial adviser could be helpful. They’re there to offer advice tailored to your unique situation, help you plan for retirement and manage debt and give you advice on how to make smart decisions with your investments and savings. Read Next: How to turn a $100,000 investment into $1 Million — and retire a millionaire. Are you rich? Here’s what Americans think you need to be considered wealthy. *This information is not financial advice, and personalized guidance from a financial adviser is recommended for making well-informed decisions. Jeannine Mancini has written about personal finance and investment for the past 13 years in a variety of publications including Zacks, The Nest and eHow. She is not a licensed financial adviser, and the content herein is for information purposes only and is not, and does not constitute or intend to constitute, investment advice or any investment service. While Mancini believes the information contained herein is reliable and derived from reliable sources, there is no representation, warranty or undertaking, stated or implied, as to the accuracy or completeness of the information. "ACTIVE INVESTORS' SECRET WEAPON" Supercharge Your Stock Market Game with the #1 "news & everything else" trading tool: Benzinga Pro - Click here to start Your 14-Day Trial Now! Get the latest stock analysis from Benzinga? This article 'My Husband Passed Away And Left Me With $120K In Credit Card Debt' 70-Year-Old With Cancer Asks Strangers For Advice, Here's What They Said originally appeared on Benzinga.com © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
This Loophole Could Help You Want Buy More than $10,000 in I Bonds 2024-04-05 04:00:00+00:00 - i bonds limit loophole In a world where the stock market is unpredictable and interest rates are rising, many investors are looking for someplace to put their money that is as close to risk-free as possible — even if it means forgoing the chance for a bigger reward. One increasingly popular pick are I Bonds, savings bonds issued by the U.S. government. These bonds are virtually risk free and have a robust fixed interest rate. There is generally a $10,000 limit per year for purchasing I Bonds, but there are a few ways to get around this limit. For more help working I bonds into your financial strategy, consider working with a financial advisor. I Bonds Basics I Bonds are issued by the federal government and carry a zero-coupon interest rate — plus, they are adjusted each year for inflation. The variable return will sit at 9.62% through October 2022. Unlike other U.S. securities, these bonds are sold at face value — meaning if you purchase a $100 bond, the price will be $100. The bond duration runs from one year to 30 years. Interest is paid on a monthly basis and compounds every six months. The following deadlines apply to I Bonds: Within one year of purchase: You cannot cash the bond. Within one year and five years of purchase: You can cash the bond but forfeit the previous three months’ interest payments. This is known as “early redemption.” After five years of purchase: You can cash the bond with no penalty. After 30 years of purchase: The bond ceases to pay interest. You don’t have to cash the bond after 30 years, but it will start to lose value against inflation. How to Get Around the $10,000 I Bond Limit i bonds limit loophole These bonds are popular, but there is a limit of $10,000 per year that an individual can purchase. That said, there are some loopholes you can exploit if you want to put even more money into these bonds to nab that healthy 9.62% yield: Tax Refunds If you are expecting to get a tax refund, you are able to purchase an additional $5,000 in I Bonds. There is one catch, though — they have to be paper I Bonds, not the more popular digital I Bonds. While this adds a bit of a rigamarole, you can eventually convert these paper bonds to digital. Story continues Family Ties The limit is per person — so if you’re married, each spouse is allowed to purchase $10,000 in I bonds (plus the paper bonds if they have a tax return). You can also purchase up to $10,000 in I Bonds for your children, but they must be used for the child, to save for college, perhaps. Businesses and Trusts Entities like businesses and trusts can also purchase up to $10,000 in I Bonds. This means that if you own a business and you have a living trust, you can purchase up to $30,000 in I Bonds each year. The Bottom Line i bonds limit loophole I Bonds are a virtually risk-free investment, which makes them very popular in times of market uncertainty such as right now and as inflation devalues your cash. That said, there is a $10,000 limit each year for purchasing them. There are a number of ways around this limit, though, including using your tax refund, having your spouse purchase bonds as well and using a separate legal entity like a trust. Investing Tips For help using I Bonds as part of your strategy, consider working with a financial advisor. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now. Building a dividend stock portfolio is another way to use investments to create income. Photo credit: ©iStock.com/jetcityimage, ©iStock.com/FreshSplash, ©iStock.com/Jitalia17 The post How to Buy More than $10,000 in I Bonds Through This Loophole appeared first on SmartAsset Blog.
When Trump needs cash, a California bank and one of its top shareholders have come to the rescue 2024-04-05 03:52:00+00:00 - WASHINGTON (AP) — Donald Trump left the White House facing a cash crunch and a tattered reputation after his attempts to overturn the 2020 election, threatening the viability of his business empire. Soon, though, a new source stepped forward to provide a financial lifeline when many longtime lenders refused. Over the past two years, Axos Bank, as well as its largest individual shareholder, California billionaire Don Hankey, have collectively extended more than $500 million in financing that has benefited Trump, records show. The cash influx has helped Trump to pay off debts and pocket a tidy profit while escaping from a lease on his money-losing former hotel in Washington. It also covered a $175 million down payment he made this week on an eye-popping civil fraud penalty. Axos Bank officials as well as Hankey have said that the deals offer them a financial upside. But as Trump again pursues the White House, ethics and legal experts question what the lenders may ask in return if there's a future Trump presidency, considering even small regulatory changes can translate into millions of dollars in earnings. “If the guy gets back in the White House, they've got him over a barrel,” said Richard Painter, a former ethics lawyer for President George W. Bush who later ran for Senate in Minnesota as a Democrat. Financial statements and court records detail how both Axos Bank and Hankey have faced heightened oversight under Democrats. The Securities and Exchange Commission investigated Axos during Barack Obama's presidency after a whistleblower filed a lawsuit accusing the bank of violating anti-money laundering rules, court records show. The investigation was closed in 2017 once Trump became president, while the whistleblower lawsuit was settled out of court. Hankey, who made his fortune selling high-interest auto loans to those with bad credit histories, has faced similar scrutiny. In 2015, one of his companies, Westlake Services, was forced to pay $48 million in penalties and compensation after the Consumer Financial Protection Bureau — an agency created by Obama and often criticized by Trump administration officials — found that they used debt collection tactics that the bureau described as “illegal.” Story continues Westlake also paid $700,000 to resolve a 2017 Justice Department lawsuit, which accused the company of illegally repossessing at least 70 vehicles owned by members of the military. While monitoring Westlake's compliance with the settlement, the DOJ found the company had failed to grant service members an interest rate benefit required under law, leading to an additional $225,000 settlement in 2022, records show. Hankey did not respond to requests for comment made directly to him, as well as to an attorney for his company. Trump's campaign also did not respond to an inquiry. Officials for Axos, a midsized California-based bank that was formerly known as Bank of the Internet, did not address the SEC investigation in a brief statement. In its statement, Axos Bank said it faced little risk from its lending to Trump, holding a “net principal balance exposure of less than $100 million.” Axos CEO Gregory Garrabrants donated $4,800 to Trump’s campaign. But both the bank and Hankey have previously said that politics, or an affinity for Trump, had no bearing on their decision to lend him money. Trump left the White House as a pariah in the business world following his efforts to overturn the 2020 election, which culminated in the Jan. 6 attack on the Capitol. He also faced looming deadlines to pay off massive loans taken out on Trump Tower as well as his Doral golf course resort in Miami. Axos stepped up. The bank extended $225 million in loans to Trump in 2022, enabling him to pay off those two outstanding debts just as they were about to come due, records show. When Trump was looking to exit his hotel lease of Washington's historic Old Post Office building, the company again came through, providing a $190 million loan that helped a Miami-based investor group complete the $375 million sale in 2022, according to property records. Axos said it provided the financing to backstop the primary lender in the deal, MSD Partners. Many hotel brokers, owners and consultants did not expect the 263-room hotel down the street from the White House to fetch such a high price. The hotel lost more than $70 million during the four years of Trump’s presidency, including in each year before pandemic shutdowns. But when the sale closed Trump's companies made as much as $100 million, the Associated Press reported at the time. This week, the latest tranche of Axos-connected financing came through when Hankey stepped forward through one of his companies, Knight Specialty Insurance, to post a $175 million bond that Trump was required to post as he appeals a $454 million judgment in his New York civil fraud trial. Hankey owns a roughly 5% stake in Axos Bank, making him the bank’s largest individual shareholder, according to financial filings made with the SEC. “This is what we do at Knight Insurance, and we’re happy to do this for anyone who needs a bond,” said Hankey earlier this week after Trump made the bond. He previously told the AP that he has never met or spoken with Trump. On Thursday, New York Attorney General Letitia James' office objected to the bond in a court filing, requesting that Knight Insurance file additional paperwork showing that the company was financially sound and had adequate collateral to cover the amount. Hankey, who donated $80,000 to Trump and the Republican Party in 2016, maintains politics did not influence his decision to offer help. He previously said Trump offered up both cash and bonds as collateral. “I’m chairman of the board of several companies, and we just carry on our business and we try to stay away from political issues or taking sides,” Hankey told The Washington Post. That offers little assurance to Trump critics who closely tracked the transactional nature of his presidency. “There are multiple layers of questions about what is Hankey’s relationship to Trump and to others in Trump’s orbit," said Norman Eisen, a former Obama “ethics czar” who is now senior fellow at the liberal-leaning Brookings Institution. “What are his interests? How might Trump favor his interests? How might others?” ___ Associated Press writers Ken Sweet and Bernard Condon contributed reporting from New York.
Tesla bear says it’s poised to ‘go bust’ because it’s too vertically integrated, which is a ‘brilliant model when you grow’ but not when you have your worst quarter in years 2024-04-05 03:34:00+00:00 - Tesla reported its first quarter of year-over-year sales declines since 2020 this week. A bad quarter was expected given slowing demand in China, an arson at its factory in Germany that led to a production stoppage, and supply-chain hiccups due to the geopolitical situation in the Red Sea. But Tesla ended up disappointing even those low expectations. Wedbush analyst and noted Tesla bull Dan Ives called it an “unmitigated disaster that is hard to explain away.” Now that Tesla believers like Ives were so unequivocal in condemning the company after its discouraging report, its many short-sellers and naysayers are feeling more vindicated than ever about their claims that the company was overpriced to begin with. “This was really the beginning of the end of the Tesla bubble, which probably, arguably was the biggest stock market bubble in modern history,” Per Lekander, managing partner at London-based investment firm Clean Energy Transition, told CNBC. Tesla’s share price has fallen 58% since its peak in November 2021—and sales are down. In the last quarter, Tesla reported an 8.5% drop in vehicle deliveries from last year. Wall Street set a relatively low bar—457,000—but Tesla was only able to deliver 386,810 vehicles in total. There were even whispers that it would underperform those mediocre expectations, but not to this degree. The most bearish of analysts had predicted deliveries to be around 414,000 for the quarter. Those numbers are a stark reversal from Tesla’s growth trajectory over the last few years, and they might only get worse from here given Tesla’s business model, according to Lekander. For years, Tesla spent heavily to build the necessary manufacturing capacity to capture the demand for EVs it felt was going unmet. But with vehicle deliveries now falling, that decision looks riskier than ever. "I actually think the company could go bust," Lekander said. This is the first quarter that Tesla had annual declines since 2020, when the pandemic disrupted factory operations. Since then, Tesla’s top-line growth has been gangbusters, seemingly proving the general consumer was ready for EVs and that Tesla’s unorthodox production methods had paid off. In 2023, it ended the year with $96 billion in revenue, a 207% increase from 2020. That level of sustained revenue growth had been factored into Tesla’s share price, pushing it higher and higher—not least because in early 2021, Tesla told investors it expected to “achieve 50% average annual growth in vehicle deliveries.” Story continues But now that sales numbers have not just stumbled, but actually reversed, the logic underpinning that investment thesis is evaporating. To make matters worse, Lekander says, Tesla’s vertically integrated business model is only suitable for a company that expects rampant growth. “That’s a brilliant model when you grow because you have negative working capital so you actually get paid for growing and you capture all the margin,” he told CNBC. Lekander is referring to the idea that a company growing as fast as Tesla was—the past tense is critical here—can use all of the cash it makes from selling its cars to continuously fund expansion. As long as sales keep growing, a company has the cash on hand to keep investing in things like new factories or product upgrades. However, once sales falter, a company is stuck having to pay off the liabilities it incurred to fund those expenditures with a shrinking amount of cash. In essence, it now finds itself with growing debts and shrinking revenues: a dangerous situation for any company, especially one in as competitive a market as EVs. “The problem is when you go in the reverse and sales go down, you have all the fixed costs which you have to spread on a smaller volume, and you have the fact that you have negative working capital unwinding,” Lekander said. Tesla, under Musk’s direction, built itself into a car company with extraordinary levels of vertical integration. The company invested not just in building the cars themselves, but also in charger networks, and in efforts to produce EV batteries in-house. In theory, doing so should create a manufacturing process that allows for faster innovation because Tesla would be less reliant on other suppliers. In addition to manufacturing the cars themselves, Tesla also decided from its earliest days to develop its own software programs. The hope was that in the future, those programs would be used to power its self-driving technology. In fact, Musk once memorably called Tesla a software company. "Tesla is as much a software company as it is a hardware company, both in car and in factory,” he posted on Twitter, now X, in February 2022. ”This is not widely understood.” In order for Tesla’s strategy of integrating vertically and operating with negative working capital (meaning its liabilities exceed its assets), it has to know that demand for its products is there, even if its own supply isn’t. For a long time, that was the case with Tesla. Its products attracted a loyal following, in large part because they were hailed as the first “cool” EV—Tesla’s Model S didn’t look dorky, and had the acceleration of a sports car. Now, however, Lekander questions whether that demand is even there—attributing the past quarter’s lackluster numbers not to the production problems Tesla cited, but to declining demand for its products. “How does record-high inventories go together with a production problem?” Lekandar asked rhetorically. “This is a demand problem.” In an analyst note released earlier this week, UBS reached a similar conclusion. “We believe demand is slowing,” analyst Joseph Spak wrote. Much of that demand is slowing because other EVs are entering the market, making it far more competitive. In particular, several Chinese companies are making cheaper models that have eaten away at Tesla’s business in the world’s second-largest economy. There’s also the problem that many mainstream car buyers remain lukewarm on EVs. This problem has been magnified by the fact that most EV early adopters already own an electric car, and don’t need a new one. In an effort to juice demand, Tesla is leaning heavily on its self-driving capabilities. While the technology has yet to fully pan out, that hasn’t stopped Musk from mandating new customers get a demo of the updated self-driving car software. Tesla is also offering one month free of its driver-assist technology that is otherwise priced at $199 a month. This story was originally featured on Fortune.com
One of Wall Street's most powerful people is predicting that a 4-day workweek is coming, but there is a catch 2024-04-05 02:06:00+00:00 - More employers are exploring concepts like a four-day workweek but what many people want is flexibility. onetime/Getty Images This post originally appeared in the Insider Today newsletter. You can sign up for Business Insider's daily newsletter here. Let's have a day! Travel for summer vacations is shaping up to be brutal. United Airlines asked pilots to take unpaid leave next month due to issues at Boeing. And JetBlue's checked bag fees might change depending on when you're traveling . In today's big story, we're looking at a Wall Street billionaire's prediction that the four-day workweek is coming . What's on deck: But first, all work and no play makes Jack a dull boy. If this was forwarded to you, sign up here. The big story Working for the long weekend Dave Kotinsky/Getty Images for Lincoln Center; iStock; Rebecca Zisser/BI Four-day workweek advocates rejoice! One of the most powerful people on Wall Street has joined your ranks. Billionaire hedge fund manager and New York Mets owner Steve Cohen said a four-day workweek is inevitable , Business Insider's Matthew Fox writes. Cohen's thesis, as laid out during a CNBC interview on Wednesday, is partly fueled by the rise of artificial intelligence and the fact that no one seems to do much work on Fridays anyway. (As a Mets fan, I'd suggest Cohen focus on getting the team, which is 0-4, to work even one day a week. Cohen, who views his ownership as " a civic responsibility ," compared the rough start to a hedge fund having a few down days in January.) Cohen put his money where his mouth is regarding the four-day workweek. His recent investment in the PGA Tour fits into the theme of people having more free time on their hands due to a shorter week. His backing comes as momentum continues to build for shortening the workweek, particularly among younger workers pushing for broader workplace changes . Story continues iStock;Rebecca Zisser/BI Cohen's endorsement comes with a catch. As the newest four-day workweek fan club member, Cohen must be interested in implementing it at his hedge fund, Point72. Right? Right?! "If they're taking off Friday and they have a portfolio, that's a problem, OK, if the markets are open," Cohen said when asked about his firm's plans. And therein lies the rub. Companies and executives are supportive of skipping Fridays — to a point. Plenty of smaller companies have run pilot programs . A massive study conducted in 2022 across multiple countries found the 32-hour week increased revenue and improved employee health and well-being . Basis Technologies, an advertising software company, implemented a 4.5-day workweek this year . But full-scale adoption of a shortened workweek by a large corporation remains a pipedream. A rundown of companies offering four-day workweeks by Tech.co has some big names, but most are either small pilots or come with serious caveats. I get it. No one wants to be the first to do something so controversial only to have it backfire or be used against them. But the result is people agreeing the workweek could use a refresher, but no one is willing to do the work to get there. Workers do have one piece of leverage. Return-to-office mandates have strained the employee-employer relationship . Maybe the four-day workweek represents the olive branch companies can extend to get people back to their desks. 3 things in markets Yuki Iwamura/AP A graduate school project might eventually be the best way to catch politicians' insider trading. The AI tool, which is still in its "private beta," can contextualize lawmakers' stock transactions with things like committee assignments and sponsored legislation to suss out suspicious activity. A 2021 BI investigation found lawmakers regularly violated a conflict-of-interest law with little consequence. The Federal Reserve isn't playing politics. Fed Chair Jerome Powell made clear any decision around interest rate cuts won't have anything to do with November's presidential election . Speaking of cuts, Powell said the Fed needs more data to feel confident about making them. Tesla's stock is on thin ice, JPMorgan says. The bank reiterated its "underweight" rating on the EV maker and slashed its price target to just $115 , implying a 32% drop from current levels. The downgrade comes after Tesla missed Wall Street's first-quarter delivery targets. 3 things in tech Brooks Kraft LLC/Corbis via Getty Images Amazon is laying off hundreds of employees in its cloud division. According to internal emails, the job cuts will impact Amazon Web Services' sales and marketing workers and the team that's building tech for its retail stores. The layoffs follow Amazon's elimination of about 160 advertising roles last week. Google just scored a big win in the AI talent war. The company hired OpenAI's former head of developer relations, Logan Kilpatrick, for its AI Studio. One person called Kilpatrick Google's new "secret weapon." Apple eyes up its next big thing. The tech giant is in the early stages of looking into building smart home robots , sources familiar with the matter told Bloomberg, as it tries to move on from the multibillion-dollar electric car project it decided to scrap earlier this year. 3 things in business Carl Godfrey for BI Wall Street's favorite restaurants are gaudier than ever. Forget the recession, and forget minimalism. New York City's dining scene is back in full force , and its dining elite are louder, prouder, and more extravagant than ever. Bob Iger has one really important thing left to do. After winning the long, expensive proxy battle against Nelson Peltz , Iger still must find someone to succeed him . After a few false starts, he's promised to get it right this time, insisting he'll have someone lined up for when he leaves in 2026. Goldman Sachs boss David Solomon is under fire, again. Proxy advisor Institutional Shareholder Services is pushing for the bank to separate its chairman and CEO roles , Reuters reported. Goldman's annual shareholder meeting is set to take place later this month. In other news What's happening today UK billionaire Joe Lewis will be sentenced for insider trading. The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Hallam Bullock, senior editor, in London. George Glover, reporter, in London. Read the original article on Business Insider
Near Record High Funding Rate Suggests Bitcoin Pullback Not Over 2024-04-05 00:21:00+00:00 - Bitcoin hit a record high above $73,500 about three weeks ago and then quickly retreated to the $61,000 area. It's since retraced to the current $67,600, giving bulls some hope that new records are imminent. At least one sentiment indicator, though, indicates that the price correction has more room to run. The so-called futures funding rate – payments to traders based on the difference between perpetual contract markets and spot prices – is around a record high level, reports CryptoQuant. "Funding rates represent traders' sentiments in the perpetual swaps market and the amount is proportional to the number of contracts," the team explained. Positive funding rates indicate that long position traders are dominant and are willing to pay funding to short traders. Positive funding rates, CryptoQuant continued, suggest long traders – those betting on higher prices – are dominating the market and willing to pay funding to shorts, i.e. those betting on lower prices. The last time funding rates were this high was in April 2021. Bitcoin subsequently collapsed from above $60,000 to below $30,000 just three months later. Funding rate vs bitcoin price (CryptoQuant) Interestingly, the CryptoQuant report comes alongside recent data from the U.S. Commodities Futures Trading Commission (CFTC) showing record futures short positions from hedge funds and commodity trading advisors (CTAs). Read more: Hedge Funds Hold Record Bearish Bitcoin Bets, Data Show
When will the Fed cut rates? Maybe not in 2024, one Fed official cautions 2024-04-04 22:57:00+00:00 - Inflation expected to continue with no recession. Financial advisor provides tips on how to save Inflation expected to continue with no recession. Financial advisor provides tips on how to save 05:28 A Federal Reserve official on Thursday raised the possibility the central bank may not cut interest rates at all in 2024, deflating Wall Street's expectations that several reductions could be in store later this year. "If we continue to see inflation moving sideways, it would make me question whether we needed to do those rate cuts at all," said Federal Reserve Bank of Minneapolis President Neel Kashkari in an interview with Pensions & Investments magazine that was broadcast on LinkedIn. Kashkari, who said he had previously predicted two rate cuts this year, added, "If we continue to see strong job growth, strong consumer spending and strong GDP growth, then that raises the question in my mind, "Well, why would we cut rates?' Maybe the dynamics we have right now are sustainable." Kashkari's comments come a day after Fed Chair Jerome Powell said the central bank is likely to lower its benchmark rate later this year, providing relief to consumers and businesses paying sharply higher borrowing costs after 11 rate hikes in two years. But inflation has remained stubbornly above 3% this year, even picking up speed in February, prompting Powell to caution the Fed is wary of cutting rates too quickly. Sticky inflation and stronger-than-expected economic data "keeps the Fed speakers on higher alert, such as Khaskari, who said he penciled in two rate cuts in the dot plot but keeps the option of 'no cuts' if inflation stalls," noted Ben Emons, senior portfolio manager at NewEdge Wealth LLC in a research note. Emons noted that stocks took a dive after Kashkari's 2 p.m. ET interview as investors digested the possibility of no rate cuts in 2024. The S&P 500 shed 1.2%, while the Dow Jones Industrial Average lost 1.4%. "The psychology ... is about a realization that a Fed staying more restrictive will weaken the economy in the future," Emons noted. All eyes on jobs and inflation data Two major economic reports will likely garner more attention after Kashkari floated the idea of no rate cuts this year. The March jobs report will be released tomorrow at 8:30 a.m., with economists forecasting that businesses hired 200,000 workers last month, a slowdown from February's 275,000. Inflation data for March will be issued on April 10, a metric sure to be closely watched given that the Fed wants to see the annual inflation rate drift back down to its pre-pandemic level of about 2%. Economists expect prices rose 3.5% on an annual basis in March, which would represent an uptick from the previous month's 3.2% increase, according to FactSet. Even so, inflation is slowly easing after hitting a 40-year high of 9.1% in June 2022, but still remains higher than the Fed would like. "We ultimately need to see what happens both with the labor market and inflation," Kashkari added. At the moment, the majority of economists polled by FactSet are forecasting a rate cut from the Fed at its June 12 meeting. If that occurs, it would mark the first interest rate reduction since March 2020, when the central bank took action to stimulate the economy in the face of the pandemic's economic shutdown. Asked if additional rate hikes are off the table, Kashkari, who described himself as more hawkish than other Fed officials, responded, "No, they certainly are not off the table." But that may be a small comfort for inflation-weary consumers battered by high borrowing costs. Added Kashkari, "I don't think they are likely."
Hunting for your first home? Here are the best U.S. cities for first-time buyers. 2024-04-04 22:43:00+00:00 - The city best known for blues music and the Gateway Arch is also a prime destination for people looking to buy their first home. St. Louis, Missouri, offers the best mix of reasonably priced housing stock and the number of properties for sale, with more than two-thirds of available homes in the city defined as affordable, according to a new report from Zillow. The median sales price for homes in St. Louis is $205,500, Redfin data shows — well below the national median of $384,500. St. Louis is also among a handful of cities where home prices are expected to fall this year, according to a Realtor.com forecast. Zillow defines affordable as homeowners spending no more than 30% of their income on payments, factoring in a 5% down payment, and a mortgage of 6.94%. To be sure, for many Americans buying a home remains a major financial challenge. To comfortably afford a typical home, Americans today must have household income of $106,500 — up sharply from $59,000 just four years ago, according to previous Zillow research. The interest rate on a conventional 30-year mortgage hit 6.82% this week, according to Freddie Mac, and experts predict rates will stay in a range of 6.75% to 7% during spring homebuying season. "The good news for homebuyers is that inventory is increasing in some markets," Lisa Sturtevant, chief economist at Bright MLS told CBS MoneyWatch."Buyers have been holding back over the past few weeks, but more supply this spring will bring more buyers back into the market." And notably, despite the hurdles to buying a home, many people are finding ways to do it. Homeownership rates in the nation's 50 largest metro areas rose from 60.6% in 2012 to 61.7% in 2022 — an increase of 6.1 million new homeowners, according to a LendingTree analysis. Affordability is key criterion Zillow used to compose its list, but researchers also factored in how many households in certain markets are headed by someone between 29- and 43-years-old — the typical age range for first-time homebuyers. Zillow also factored in how hard it is to find a place to rent — a competitive rental market makes it more difficult to save money to buy home — which is why pricier cities like Austin, Texas, and San Antonio, Texas, still made the list. Rounding out Zillow's ranking of the 10 best cities for first-time homebuyers: 2. Detroit (63% of homes for sale are affordable) 3. Minneapolis (48%) 4. Indianapolis (50%) 5. Austin, Texas (23%) 6. Pittsburgh (63%) 7. San Antonio (33%) 8. Birmingham, Alabama (47.5%) 9. Kansas City (50.5%) 10. Baltimore (56%)
Xos, Inc. Unveils Upgraded 2024 Xos SV Stepvan with Enhanced Features for Fleet Operators - Xos (NASDAQ:XOS) 2024-04-04 22:37:00+00:00 - Loading... Loading... LOS ANGELES, April 04, 2024 (GLOBE NEWSWIRE) -- Xos, Inc. XOS, a leading electric truck manufacturer and fleet electrification services provider, is excited to announce the release of the 2024 Xos SV Stepvan. This latest model boasts a range of new features and improvements, making it the most advanced and versatile stepvan from Xos to date. "We are constantly striving to improve and innovate our designs to meet the needs and comfort of our customers and drivers," said Xos CEO, Dakota Semler. "The 2024 Xos SV Stepvan is a testament to our commitment to providing top-of-the-line electric commercial vehicles." One of the key changes for the 2024 model year is the addition of ABS with hill hold, providing drivers with enhanced control on the road. The Stepvan also now comes equipped with low-speed noise generators, to alert pedestrians and other vehicles of the vehicle's presence. In addition to these enhancements, the 2024 Xos SV Stepvan also offers improved driver comfort. The new tilt and telescoping steering column allows for a more personalized driving experience, while additional heater and AC configurations cater to extreme weather conditions. Fleet operators will also have the option to choose from lift-gate-ready kits and multiple tire options to suit the specific needs of their fleet best. This customization allows for a more tailored operation, ensuring the 2024 Xos SV Stepvan is the perfect fit for any fleet. "We are thrilled to offer these new features and improvements for the 2024 Xos SV Stepvan," said Semler. "We are confident that these updates will enhance the overall driving experience and make our stepvan even more versatile for a variety of businesses." The 2024 Xos SV Stepvan is now available for purchase. For more information, visit Xos' website or contact a local dealer. Xos is committed to decarbonizing the commercial vehicle industry, and the 2024 Xos SV Stepvan is just one example of its dedication to innovation and customer satisfaction. About Xos, Inc. Xos is a leading technology company, electric truck manufacturer, and fleet services provider for battery-electric fleets. Xos vehicles and fleet management software are purpose-built for medium- and heavy-duty commercial vehicles that travel on last-mile, back-to-base routes. The company leverages its proprietary technologies to provide commercial fleets with battery-electric vehicles that are easier to maintain and more cost-efficient on a total cost of ownership (TCO) basis than their internal combustion engine counterparts. For more information, visit www.xostrucks.com . Contacts Xos Media Relations press@xostrucks.com Loading... Loading... Cautionary Statement Regarding Forward-Looking Statements This website and other items we publish, including through social media outlets, may include "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements, including but not limited to: (i) Xos, Inc.'s ("Xos") ability to implement business plans, forecasts, and other expectations, and identify and realize additional opportunities, (ii) Xos' limited operating history, (iii) cost increases and supply chain shortages in the components needed for the production of Xos' vehicle chassis and battery system, (iv) Xos' ability to meet production milestones and fulfill backlog orders, (v) changes in the industries in which Xos operates, (vi) variations in operating performance across competitors, (vii) changes in laws and regulations affecting Xos' business, (viii) Xos' inability to implement its business plan or meet or exceed its financial projections (ix) Xos' ability to retain key personnel and hire additional personnel, (x) the risk of downturns and a changing regulatory landscape in the highly competitive electric vehicle industry and (xi) the outcome of any legal proceedings that may be instituted against Xos. You should carefully consider the preceding factors and the other risks and uncertainties described in Xos' filings with the Securities and Exchange Commission (the "SEC"), including its Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Copies of Xos' SEC filings may be obtained by visiting Xos' Investors Relations website at investors.xostrucks.com or the SEC's website at www.sec.gov . These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Xos assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/01f382d5-0512-4ca3-b624-96ccf2da97b7
Mega Matrix Announces the Successful Completion of Investor Day and the Publication of Articles from Grit Daily and Smartech Daily, highlighting FlexTV - Mega Matrix (AMEX:MPU) 2024-04-04 21:54:00+00:00 - Loading... Loading... PALO ALTO, Calif., April 04, 2024 (GLOBE NEWSWIRE) -- Mega Matrix Corp. ("Company") MPU is pleased to announce the successful completion of Investor Day event. The media, Grit Daily and Smartech published articles, after attending our Investor Day, spotlighting FlexTV as an innovator in the entertainment industry. FlexTV is operated by Yuder Pte, Ltd., an indirect majority-controlled subsidiary of us. Grit Daily "Transforming Screen Time: How FlexTV and Short-Form Content Are Redefining Streaming" The report believes that FlexTV is redefining the streaming platform. According to the article, the streaming industry's market share is $544 billion, with forecasts indicating it will reach $19.02 trillion by 2030, demonstrating a paradigm shift in content consumption. Even within this industry, a revolution is occurring, with traditional movies and TV facing a strong opponent: short-form content. FlexTV has identified this market and entered decisively. This is because there has been a significant change in viewers' habits, shifting from long videos to short videos of a few minutes or 30 minutes. Additionally, there has been a change in the way content is delivered. Modern audiences have increasingly shorter attention spans and prefer multitasking, a change that is profound. This shift has given platforms like FlexTV the opportunity to focus on fast-paced content and emotional impact. The article link is: https://gritdaily.com/how-flextv-short-form-content-redefining-streaming/ Smartech Daily "Bridging Worlds: How FlexTV is Globalizing Short-Form Content in the Streaming Era" Streaming media is considered the only continuously growing industry in the entertainment industry, with multiple platforms competing to become leaders. In capturing viewers' attention, short-form video content is becoming a significant player. YouTube Shorts and TikTok have defined this trend, attracting millions of users. FlexTV, which integrates streaming media and short content, has found a new market space by turning user-created short content into professional content, utilizing AI, data analysis, and other professional methods to create high-quality content that users love. You can find the article link here:https://smartechdaily.com/how-flextv-is-globalizing-short-form-content/ (https://smartechdaily.com/how-flextv-is-globalizing-short-form-content/) The Company CEO, Yucheng Hu said, "These articles provide a comprehensive and thorough analysis of FlexTV, enabling readers to clearly understand what products we offer, as well as our business model and technological innovations. MPU will continue to work hard to attract more viewers and gain more market share." About Mega Matrix: Mega Matrix Corp. MPU is a holding company and operates FlexTV, a short-video streaming platform and producer of short dramas, through Yuder Pte, Ltd., an indirect majority-controlled subsidiary of Mega Matrix. Mega Matrix is a Delaware corporation headquartered in Palo Alto, CA. For more information, please contact info@megamatrix.io or visit: http://www.megamatrix.io. Loading... Loading... Forward-Looking Statements This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements that are purely historical are forward looking statements. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose," and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees for future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate future acquisitions; ability to grow and expand our FlexTV business; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting the Company's profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; the possibility that the Company may not succeed in developing its new lines of businesses due to, among other things, changes in the business environment, competition, changes in regulation, or other economic and policy factors; and the possibility that the Company's new lines of business may be adversely affected by other economic, business, and/or competitive factors. The forward-looking statements in this press release and the Company's future results of operations are subject to additional risks and uncertainties set forth under the heading "Risk Factors" in documents filed by the Company with the Securities and Exchange Commission, including the Company's latest annual report on Form 10-K, and are based on information available to the Company on the date hereof. In addition, such risks and uncertainties include the Company's inability to predict or control bankruptcy proceedings and the uncertainties surrounding the ability to generate cash proceeds through the sale or other monetization of the Company's assets. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. Contact: Info@megamatrix.io
New Jersey's 3 Nuclear Power Plants Seek to Extend Licenses for Another 20 Years 2024-04-04 21:41:00+00:00 - Loading... Loading... The company that owns New Jersey's three nuclear power plants said Wednesday it will seek federal approval to operate them for another 20 years. The move comes as New Jersey makes a strong push to become the East Coast leader in offshore wind. But the three power plants run by PSEG Nuclear LLC provide nearly half of New Jersey's electricity, and a licensing extension represents a potential hedge against not enough wind projects being available to meet the state's needs. An extension would enable the plants to run beyond 2050. The company said it has notified the U.S. Nuclear Regulatory Commission of its intent to seek renewed licenses for the Salem Generating Station Units 1 and 2, and the Hope Creek Generating Station. All are located on one site on Artificial Island in Lower Alloways Creek Township, Salem County. It plans to file the extension request in the second quarter of 2027 but needed to alert the commission far in advance to allow it to prepare for the review. If approved by the NRC, the licenses for Salem Units 1 and 2 would be extended from 2036 and 2040 to 2056 and 2060, respectively, and Hope Creek station would be extended from the current 2046 expiration to 2066, the company said. "For more than five decades, the nuclear generating stations in south Jersey have safely generated reliable, always-on carbon-free energy" Charles McFeaters, president and chief nuclear officer of PSEG Nuclear, said in a statement. "Seeking to renew our licenses signifies our commitment to continuing to contribute to New Jersey's clean energy future and serving as a vital economic engine for the local community." Beginning this year, a nuclear production tax credit included in the federal Inflation Reduction Act will provide nuclear generators with nine years of financial support through 2032. And New Jersey officials also approved a $300 million customer-funded subsidy for the state's nuclear industry in 2019 despite its utilities board determining that the industry was "viable" and not in need of a subsidy. Both incentives were designed in part to support clean energy sources as an alternative to burning fossil fuels, which contribute to climate change. The company's move to extend its operating licenses drew bipartisan support Wednesday from New Jersey lawmakers. "Nuclear power is a clean resource that provides reliability and diversity to the state's supply of energy" said state Sen. John Burzichelli, a Democrat. Loading... Loading... "South Jersey's nuclear plants consistently, reliably and affordably deliver power for our state, day and night, regardless of the weather" added Sen. Michael Testa, a Republican. PSEG Nuclear is a subsidiary of Newark, New Jersey-based Public Service Enterprise Group. ___ The article "New Jersey's 3 nuclear power plants seek to extend licenses for another 20 years" first appeared on MarketBeat.
Jay-Z's Made In America Festival Cancelled for the Second Year in a Row 2024-04-04 21:41:00+00:00 - Loading... Loading... Jay-Z's annual Made in America festival, held in Philadelphia over Labor Day weekend, has been cancelled for the second year in a row. The festival announced the cancellation on social media and its official website Wednesday. A specific reason was not outlined, and a representative for Made in America referred questions back to the statement. "As purveyors of change, the Made In America executive production team is reimagining a live music experience that affirms our love and dedication to music and the work we do. We promise an exciting return to the festival" the statement read, without providing a timeline for the festival's return. A lineup had not yet been announced. "Since its inception, this groundbreaking festival has celebrated music and community — from creating a space for fans to connect, to uplifting local small businesses and shining a light on important causes. It has strived for accessibility, eliminating barriers through affordable tickets and location" Wednesday's statement said. In August 2023, a month before the festival was scheduled to take place on the Benjamin Franklin Parkway with Lizzo and SZA as the headliners, Made in America announced the festival would not happen "due to severe circumstances outside of production control" according to a statement then. "This decision has been difficult and has not been made lightly nor without immense deliberation" the organizers said in 2023. At the time, they said they were looking forward to returning the following year. When the festival was abruptly canceled last year, then-Philadelphia Mayor Jim Kenney expressed disappointment but said the city would "look forward to bringing Made in America back and bigger than ever to the Benjamin Franklin Parkway next year." A spokesperson for Philadelphia Mayor Cherelle Parker did not immediately return comment about this year's cancellation. The festival began in 2012 and, up until 2023, had been held every year since except for 2020 during the coronavirus pandemic. ___ Associated Press journalist Brooke Schultz in Harrisburg, Pennsylvania, contributed reporting. The article "Jay-Z's Made In America festival canceled for the second year in a row" first appeared on MarketBeat.
Getty Images (GETY) Boosts Creator Community With Latest Event - BILL Holdings (NYSE:BILL), Bentley Systems (NASDAQ:BSY) 2024-04-04 21:41:00+00:00 - Loading... Loading... Getty Images Holdings GETY is expanding its footprint in the visual content creation sector through the recent launch of its latest event series, Create By Getty Images. Formerly known as iStockalypse, Create By Getty Images provides an exclusive platform for Getty Images and iStock videographers and photographers worldwide to engage and create premium content for global platforms under the guidance of Getty Images' seasoned creative professionals. The event, which is set to take place in Houston, TX, on May 18-19, focuses on capturing the essence of the city's cultural diversity and its emergence as a hub for clean technology startups. With a focus on themes like Houstonian local life, sustainability and technological innovation, Create By Getty Images aims to equip creators with skills and knowledge to meet the visual needs of Getty Images and iStock's global clientele. Getty Images Holdings, Inc. Price and Consensus Getty Images Holdings, Inc. price-consensus-chart | Getty Images Holdings, Inc. Quote The event also encourages creators to propose and receive funds for shoots, ensuring a diverse array of content that authentically represents the city's cultural diversity. Creators will have the flexibility to arrange additional shoots across various locations in Houston, further enriching the event's content offerings. Expanding Portfolio Aids Growth The latest move is in sync with Getty Images' commitment to empowering its global creator community and meeting the evolving visual needs of customers worldwide. Expanding portfolio has been noteworthy. In March, Getty Images launched Enhanced Search, an advanced feature leveraging AI and machine learning to provide faster, more relevant visual content discovery through natural language queries on Getty Images and iStock platforms. Getty Images also bolstered its portfolio through acquisitions. The company recently acquired Motorsport Images, enhancing its portfolio with more than 29 million images and 8,900 hours of video footage, reinforcing its position as a premier provider of visual content in the motorsport industry. Expanding its creative tool offerings, Getty Images with NVIDIA NVDA introduced Generative AI by iStock. In January, GETY launched Generative AI by iStock, an affordable and legally protected tool for turning creative visions into content, leveraging NVIDIA Picasso and supported by $10K legal coverage, seamlessly integrating with iStocks vast library for various marketing needs. Expanding its reach and clientele, Getty Images recently formed a partnership with the United Football League (UFL). As part of the multi-year agreement, Getty Images was appointed as the Official Photographic Agency of the United Football League, promising high-quality imagery throughout the 12-week season, bolstering its extensive portfolio of sports partnerships worldwide. A robust portfolio and expanding clientele are expected to strengthen Getty Images' position, thereby driving top-line growth. For 2024, GETY anticipates total revenues between $928 million and $947 million, indicating a growth of 1.3-3.3% from 2023 levels. The Zacks Consensus Estimate for revenues is pegged at $942.53 million, suggesting an increase of 2.83% year over year. The Zacks Consensus Estimate for earnings is pegged at 7 cents per share, moving down by a couple of pennies in the past 30 days. Zacks Rank & Stocks to Consider Getty Images currently has a Zacks Rank #3 (Hold). GETY's shares have declined 21.3% year to date compared with the Zacks Computer & Technology sector's rise of 13.6%. Some better-ranked stocks in the broader technology sector are Bill Holdings BILL and Bentley Systems BSY, each sporting Zacks Rank #1. Bill Holdings shares have declined 23.1% in the year-to-date period. BILL's long-term earnings growth rate is currently projected at 23.64%. Bentley Systems shares have declined 5.5% in the year-to-date period. BSY's long-term earnings growth rate is currently projected at 12%. To read this article on Zacks.com click here.
'Almost impossible': Inside Biden's uphill battle to win the backing of key anti-Trump Republicans 2024-04-04 21:41:00+00:00 - U.S. President Joe Biden speaks at the Pieper-Hillside Boys & Girls Club in Milwaukee, Wisconsin, on March 13, 2024. Sara Stathas | Bloomberg | Getty Images Allies of President Joe Biden are ramping up a charm offensive aimed at getting high-profile Republicans and donors who won't support Donald Trump to back the Democratic president. But the task is proving difficult, according to people familiar with the efforts. As of Thursday, Biden had not yet secured any endorsements from nationally recognized Republican Party officials. Meanwhile, several major Republican leaning political donors who backed former presidential primary candidate Nikki Haley's campaign are holding back, at least for now, as they make up their minds whether to back Biden. "Winning campaigns build coalitions, and that is this campaign's north star for every single day between now and November -- earning the support of the voters who will decide this race," Biden campaign spokesman Kevin Munoz told CNBC in an email Wednesday. For Biden, there is one Republican endorsement that would outshine all the others. But it is a long shot. The ultimate endorsement A few of Biden's donors who also backed Haley in her primary challenge to Trump have tried to privately encourage her to endorse Biden, according to people with knowledge of the situation. Former U.S. Ambassador to the United Nations Nikki Haley meets with supporters as she announces her run for the 2024 Republican presidential nomination at a campaign event in Charleston, South Carolina, U.S. February 15, 2023. REUTERS/Allison Joyce Allison Joyce | Reuters Like others in this story, they were granted anonymity to describe private conversations. As of Thursday, Biden and his senior campaign advisers had not connected with Haley or members of her team about a possible endorsement, they explained. And it was unclear if Haley has responded to any of the outreach from her past contributors. One adviser to a Democratic Biden donor who was aware of this outreach to Haley described the campaign to win her support for Biden as an "almost impossible task." For Haley, endorsing Biden could mean sacrificing any future political prospects she has in a Republican Party that is increasingly controlled by Trump. A spokeswoman for Haley did not return emails seeking comment. The bold-faced names In the coming months, the Biden team plans to reach out to other Republicans who have taken on Trump, including former Rep. Liz Cheney, Wyo., and former New Jersey Gov. Chris Christie, according to a person familiar with the matter. A "Republicans for Biden" group could be finalized ahead of the Democratic National Convention in July. While neither Haley, Cheney or Christie have endorsed Biden, each of them has previously denounced Trump in public. Cheney appears to have come closer than any other high profile Republican to vocally supporting Biden over Trump — albeit without officially endorsing the president. watch now "I'm gonna do whatever is necessary to defeat Donald Trump," she said in a recent CNN interview. A spokesman for Cheney did not return a request for comment. The Biden team believes that big named endorsements would likely make the biggest difference later in the election cycle, after the president has firmed up support within his Democratic base and drawn a sharp contrast with Trump. In recent weeks, the president has been traveling to key states to activate core Democratic voters and highlight his administration's record of success. At the same time, his campaign has been scaling up its battleground state staff and offices. The donors As Biden's campaign builds an operation that will likely cost north of a billion dollars when all is said and done, Biden is looking to pad his campaign coffers with cash from anti-Trump Republican donors. Biden outraised Trump by tens of millions of dollars during the first quarter of 2024. But a newly created Republican joint fundraising committee that can accept donations of up to $814,600 per person may begin to tilt the scales in Trump's favor. There is already an effort underway by wealthy Biden donors to recruit Haley's bundlers and contributors. But similar to gaining endorsements, here too, things appear tough. Some Haley donors cited policy disagreements with the Democratic administration as a big reason they couldn't commit to Biden yet, according to people familiar with the matter. But others already appear more open to donating money to Biden than they are to supporting Trump. Some Haley bundlers said a gift from Haley left them with the impression that the former South Carolina governor hoped they wouldn't donate to Trump, one of the people explained. Shortly after Haley's withdrawal from the GOP primary on Mach 6, she sent campaign T-shirts to some of her bundlers that said, "barred permanently" on them. The shirt was a reference to Trump's notorious threat, that anyone who gave money to Haley would be "permanently barred from the MAGA camp." But a different person familiar with the t-shirts were never intended to send any message other than to say, "Thank you," to her supporters. Zoom In Icon Arrows pointing outwards Nikki Haley selling "Barred. Permanently. Nikki Haley for President" T-Shirts. Nikki Haley via X George Conway, a one time Republican and vocal Trump opponent, recently gave $929,600 to the Biden Victory Fund, and said he plans to attend a dinner for the committee on April 26. The Biden Victory Fund raises money for the Biden campaign, the Democratic National Committee and dozens of state parties. Conway told CNBC the party's co-hosts are mostly Democrats, but he plans "to try to get some more apostates to show up." As of Thursday, it was unclear if any other current or former Republicans planned to attend. "Everyone, including Republican voters who reject Trump's chaos, division, and violence, has a home in President Biden's campaign," said Munoz, the Biden campaign aide. Yet even as some Haley Republicans signal they want to take a break, for now, from presidential politics, other parts of the Never Trump universe want Biden to step things up. The ready and willing For these Republicans, Biden's current outreach does not go far enough to re-engage disenchanted Haley voters, many of whom have already experienced a big disappointment this year. "There were [approximately] 76k votes for Nikki Haley last night in [Wisconsin's primary]," wrote Bill Kristol, a Never Trump political consultant and former Reagan administration aide. "Biden won WI by [approximately] 20k votes in 2020. Republican voters against Trump matter," he added in the X post. "A little more outreach from Team Biden to those voters might not be a bad idea." Bill Kristol Michael Brochstein | SOPA Images | LightRocket | Getty Images Kristol's nonprofit, Defending Democracy Together, is helping to finance a $50 million ad campaign from a group called Republican Voters Against Trump. The ads will feature one-time Trump voters explaining why they decided not to vote for him again. Mike Madrid, a co-founder of the anti-Trump PAC The Lincoln Project, told CNBC that Republicans ready to play a role in the 2024 election are still waiting for some guidance from Biden's team. "Most interaction with the Biden campaign has been informal to this point, because most of the donors, elected officials and campaign professionals are looking for direction," said Madrid. "We're waiting for marching orders," he said. Everyone else While some of the key players in Bidenland are busy courting individual Republicans, others parts of Biden's team are designing ways to connect with the thousands of disillusioned Haley supporters across the country. The Biden campaign recently launched an advertisement encouraging Haley's supporters to back Biden instead of Trump. A political action committee called "Haley Voters for Biden" is trying to convince Haley voters to back Biden over Trump, according to Semafor. Former UN Ambassador and 2024 presidential hopeful Nikki Haley, with New Hampshire Governor Chris Sununu (L), speaks to the press outside a polling site at Winnacunnet High School in Hampton, New Hampshire, on January 23, 2024. Joseph Prezioso | AFP | Getty Images
Weave (WEAV) Improves DrChrono Integration for SMB Healthcare - BILL Holdings (NYSE:BILL), Bentley Systems (NASDAQ:BSY) 2024-04-04 21:40:00+00:00 - Loading... Loading... Weave Communications WEAV is expanding its footprint in the healthcare sector with its latest announcement of enhanced integration with a prominent electronic health record (EHR) provider, DrChrono, by EverHealth. The collaboration, first initiated in late 2020, marks an advancement in streamlining operations for small and medium-sized healthcare businesses. With the updated integration, Weave introduces a suite of powerful features designed to optimize workflow and enhance patient engagement. From automated data synchronization to personalized communication tools such as Call Pop and Missed-call Text, Weave healthcare enables providers to deliver a seamless and personalized experience to their patients. Functionalities like Email Marketing, Digital Forms, Online Scheduling and seamless Payment's integration further contribute to enhancing efficiency and improving patient satisfaction. Weave Communications, Inc. Price and Consensus Weave Communications, Inc. price-consensus-chart | Weave Communications, Inc. Quote Expanding Portfolio Aids Growth Weave's commitment to expanding its portfolio with a special emphasis on bringing significant advantages to healthcare patients has been noteworthy. Weave added more than 450 net new customer locations in 2023. This indicates strong demand for its vertically tailored software solution among small and medium-sized healthcare practices, leading to an increase in its customer base. In the fourth quarter of 2023, Weave introduced the ACH Debit and Payment Plan to enhance transaction security for patients and provide healthcare providers with cost-effective options while also offering flexible payment options through recurring monthly schedules. Weave recently announced an integration with Athenahealth, enhancing healthcare providers' management capabilities through automation and optimization features such as automatic data sync, missed call texts, call pop-ups, birthday greetings and email marketing. In February, Weave introduced Payment Plans to its suite, enhancing the payment process for healthcare practices by enabling automated monthly charges for patients, streamlining billing, and reducing manual invoicing. Weave experienced robust revenue growth in the fourth quarter of 2023, which reached $45.7 million, up 21.2% year over year. The upside was driven by continued high demand for the healthcare platform and the steady customer base growth. For first-quarter 2024, Weave anticipates revenues in the range of $45.2-$46.2 million. The Zacks Consensus Estimate for first-quarter 2024 revenues is pegged at $45.89 million, indicating 15.98% year-over-year growth. The Zacks Consensus Estimate for loss is currently pegged for 2 cents per share, unchanged over the past 30 days. Zacks Rank & Other Stocks to Consider Weave currently has a Zacks Rank #2 (Buy). Weave's shares have returned 1.7% year to date compared with the Zacks Computer & Technology sector's rise of 13.6%. Some other top-ranked stocks in the broader technology sector are Bill Holdings BILL, Bentley Systems BSY and NVIDIA NVDA, each sporting Zacks Rank #1 (Strong Buy). Bill Holdings shares have declined 23.1% in the year-to-date period. BILL's long-term earnings growth rate is currently projected at 23.64%. Bentley Systems shares have declined 5.5% in the year-to-date period. BSY's long-term earnings growth rate is currently projected at 12%. NVIDIA shares have gained 79.6% in the year-to-date period. NVDA long-term earnings growth rate is currently projected at 30.93%. To read this article on Zacks.com click here.