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Delta and an airline that doesn’t fly yet say they’ll run flights between the US and Saudi Arabia 2024-07-09 17:29:52+00:00 - Delta Air Lines said Tuesday it has entered into a partnership with startup Riyadh Air with the goal of operating flights between the United States and Saudi Arabia. Riyadh Air, which plans to begin passenger flights next summer, is backed by Saudi Arabia’s sovereign-wealth fund and is part of the country’s plan to diversify its oil-based economy and boost tourism. Atlanta-based Delta and Riyadh did not give a timetable for beginning flights or financial details around their partnership. Their CEOs said neither airline is taking an ownership stake in the other. Delta CEO Ed Bastian and Riyadh Air CEO Tony Douglas said they envision selling tickets on each other’s flights — a practice known as codesharing — that requires approval from the U.S. Transportation Department. They said the partnership could grow into a full-blown joint venture. That step would require immunity from U.S. antitrust laws for the carriers to collaborate on prices and share revenue. Bastian said he expects much of the early traffic to be passengers flying to the United States, but that it will even out over time as tourism to Saudi Arabia grows. No U.S. airline flies to Saudi Arabia. Saudia, the kingdom’s flag carrier, operates nonstop flights between Saudi Arabia and New York, Dulles International Airport outside Washington, D.C., and Los Angeles.

Renewables firms already planning new onshore windfarms in England 2024-07-09 17:07:00+00:00 - Renewable energy companies have begun work on new onshore windfarms in England for the first time in almost a decade after the new government reversed restrictions the Conservatives had put in place on turbines. At least half a dozen renewables developers have begun identifying potential sites for full-scale windfarms in England after the Labour party swept to power last week with the promise to make Britain a clean energy superpower. The new schemes are expected to renew the supply of onshore projects that are essential to the government’s plan to double Britain’s onshore wind capacity to 30GW by 2030. Currently the only onshore windfarms in England’s planning pipeline are projects using one or two turbines, located on private property. The Guardian revealed last year that Ukraine built more onshore wind turbines than England in 2022 despite Russia’s invasion. But Labour’s decision to reform planning rules mean larger onshore windfarms could return to England by the end of the decade. One of the UK’s biggest wind developers, Germany’s RWE, said it began identifying viable sites to develop onshore windfarms “some time ago”, in advance of Labour’s victory, and expects its pipeline of new projects to develop “quite quickly”. Other energy companies including EDF Renewables, RES Group, Coriolis Energy and Ridge Energy have also confirmed that they are moving forward with plans for potential onshore windfarm projects in England. Ed Miliband, the energy secretary, said: “The onshore wind ban was in place for nine years, and this government has removed it in 72 hours. We are wasting no time in investing in the clean homegrown energy that our country needs to lower bills and make Britain energy independent. We welcome investors responding to this announcement by moving forward with plans to invest in Britain’s clean energy future.” RES Group, the Hertfordshire-based company which built England’s second ever windfarm in the early 1990s, has confirmed that it is considering a return to full-scale English projects in the future. Ian Hunt, the global head of asset management for RES Group, said: “England is definitely a core market for us. But each project will be judged on its own merits and in light of the impact it might have on the environment and local communities.” Trevor Hunter, a development manager from Coriolis Energy, said his company was considering half a dozen sites in England. Coriolis began undertaking bird migration surveys for sites in England “a good year ago” in anticipation of “where we believed things were going politically”, he said. Industry sources believe that the return of onshore windfarms to England will face less opposition from local communities than prior to the Conservative government’s effective ban. This is due to technological advances which mean that fewer turbines are required to generate the same amount of clean electricity, and better financial incentives for local communities. skip past newsletter promotion Sign up to Down to Earth Free weekly newsletter The planet's most important stories. Get all the week's environment news - the good, the bad and the essential Enter your email address Sign up Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy . We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply. after newsletter promotion “There has also been a change in mindset in the last decade,” Hunt said. “People can see the effects of climate change, and they know that onshore wind can help emissions and bring down bills. There is a far greater level of public acceptance now.” But, despite the fresh interest, industry analysts fear that the new Labour government may still struggle to meet its pledge to double Britain’s onshore wind capacity by 2030. Energy data provider ICIS has predicted that the UK will miss its 2030 onshore wind target because it was “difficult to envisage a new government being timely enough” to improve the approval process and attract enough new projects before the end of the decade. James Robottom, Renewable UK’s head of policy, said restarting an industry “will take time” because onshore windfarms can take up to seven years to develop, depending on their size and whether a grid connection is available. “But we do know there is strong interest from developers, businesses and communities which are already exploring sites in England,” Robottom said. “We’ll be excited to see early community engagement and detailed environmental monitoring work on prospective sites starting soon.”

Biden stems Democratic defections as he insists he won't quit 2024 race 2024-07-09 17:06:00+00:00 - WASHINGTON — Joe Biden’s insistence that he is the Democratic nominee for president and won’t be forced out of the race appears to have stemmed public Democratic defections — at least for now. While he’s certainly not in the clear and many Democrats are privately and publicly grumbling that he can’t beat Donald Trump this fall, Biden seems to have staunched the bleeding as he and his allies work to shore up support for his beleaguered presidential campaign. “If the opposition is not unified,” one House Democrat said, “then it’s advantage Biden.” At a closed-door gathering of House Democrats on Tuesday, only a handful of Democrats privately raised concerns about Biden’s age and ability to win in November, according to sources in the room. That small gang of defectors included Reps. Seth Moulton, D-Mass., Mike Quigley, D-Ill., and Mark Takano, D-Calif., sources said, who had already either publicly or privately called for Biden to step aside. In a small victory for Biden, longtime Rep. Jerry Nadler, D-N.Y., the top Democrat on the powerful Judiciary Committee, left the meeting appearing resigned to the fact that Biden would be on the top of the ticket. On a private call with fellow committee leaders two days earlier, Nadler had called on Biden to step aside, sources said. “Whether I have concerns or not is beside the point,” Nadler told reporters Tuesday. “He’s going to be our nominee, and we all have to support him.” A day earlier, Biden told lawmakers in a public letter and private phone calls that he’s not quitting the race following his disastrous debate performance late last month. The large majority of lawmakers gathered at the Democratic National Committee headquarters Tuesday morning said that Biden is the party’s nominee and that it was now time for Democratic officials to rally behind him. There is "overwhelming consensus that Biden has decided to stay in the race and we should unify behind him," said a House Democrat and Biden ally as he left the meeting. "Those with concerns should voice them privately because fait accompli — Biden is the nominee." Across the Capitol, Senate Democrats also huddled behind closed doors for the first time since Biden’s halting debate performance. Usually chatty senators left the lunch without offering details about what was discussed, only saying that the conversation was “constructive.” “This was a private family discussion,” said Sen. Debbie Stabenow, D-Mich., who leads messaging for Democrats. “Joe Biden has been the best president Michigan has ever had, bringing jobs home.” House Minority Leader Hakeem Jeffries, D-N.Y., has publicly backed Biden staying on as the nominee, but three sources in the Tuesday morning meeting said that Jeffries “respectfully listened” to all sides in the room and didn’t try to twist arms. As he opened the meeting, however, Jeffries scolded members for leaking the details of Sunday’s private Zoom between Democratic committee leaders, two sources confirmed. Wagging his finger, Jeffries said he didn’t want leaks coming out of Tuesday’s meeting. To dissuade leaking, lawmakers were told to leave their phones and smart watches at the door. And Jeffries' warning explains why many of the normally talkative Democrats leaving the gathering were tight-lipped. “I’m not going to quote anybody,” said Quigley, a Biden detractor who emphasized leadership's desire to keep a lid on the family conversation. “I don’t want to be excommunicated. I’m already off the Christmas card list.” Quigley later told host Andrea Mitchell on MSNBC: "I’m with the Democratic nominee, no matter how we go forward." Even pro-Biden lawmakers didn't want to say much as they left the meeting. "We're ridin' with Biden," said longtime Rep. Jim Clyburn, D-S.C., a Black Caucus member who is credited with helping Biden win the presidential primary in 2020. As Biden and his allies hold the line, some Democrats said they feared the president was one gaffe or slip-up away from political catastrophe. One lawmaker described the mood in the room about Biden as “shaky,” adding: "People fear he’s declining and worry that the age issue will overshadow everything the rest of the way out.” At a news conference after the meeting, Democratic Caucus Chair Pete Aguilar, D-Calif., voiced support for Biden but left the door slightly open to possibility of different nominee. Asked by NBC News if Biden is doing enough to assuage concerns, Aguilar responded: “My answer is, you know, we’ll see.” "Like, let’s see. Let’s see the press conference. Let’s see the campaign stops. Let’s see all of this, because all of it is going to be necessary," said Aguilar, the No. 3 Democratic leader in the House. Several Democrats said their constituents back home are voicing serious concerns about Biden’s health and ability to defeat Trump. After Tuesday’s meeting, Rep. Lori Trahan, D-Mass., a past Biden supporter, issued a tough statement saying the president needs to do a lot more to show her and voters that he's still up for the job. “[S]ince the debate, I have met with fellow Biden voters in Massachusetts who have real concerns about the President’s ability to beat Donald Trump. I share those concerns,” said Trahan, who is on Jeffries’ leadership team and helps run the party’s messaging operation. “While President Biden has made clear he feels he is the best candidate to win this election, nothing that has happened over the past twelve days suggests that voters see things the same way.” Moulton, another Massachusetts Democrat, confirmed that he spoke up in Tuesday's meeting, explaining to colleagues why he is publicly calling for Biden to step aside and how he arrived at that decision after having many private conversations. He said "a lot of colleagues have approached me and thanked me for my comments." "If the president would present a plan to turn his campaign around, reverse all the polls, and ultimately win the race against Donald Trump, which is what everyone, every Democrat [wants] at the end of the day," Moulton said, "then many of these concerns might go away." Rep. Greg Landsman, D-Ohio, said in an interview that he wasn’t sure if Tuesday’s meeting would put an end to members questioning Biden, saying, “there’s still a lot of polling and the president still has a lot of work to do.” “What I do believe to be true is that people are very scared,” Landsman continued. “They are scared of the prospect of Trump 2.0 with a Supreme Court that has said, in Trump’s mind, you can do whatever you want. ... Voters are terrified. And that’s why I think you’re seeing such a significant response to the debate. Not necessarily as much about what Biden did or didn’t do but the prospect of Trump becoming president” again.

Rachel Reeves launches £7.3bn national wealth fund 2024-07-09 16:46:00+00:00 - The chancellor, Rachel Reeves, is launching a £7.3bn national wealth fund, as part of a drive by the newly elected Labour government to attract billions of pounds of private sector cash for big infrastructure projects across the UK. The NWF, which Reeves said would be established “in less than a week”, is designed to help projects such as ports, gigafactories, hydrogen and steel projects to attract a mix of investment, aiming for roughly £3 of private funds for every £1 of taxpayer cash. Reeves said the fund would essentially operate as a “concierge service for investors and businesses that want to invest in Britain, so they know where to go”. The investments will then be managed by the existing UK Infrastructure Bank, headed by the former HSBC chief executive John Flint, with support from a revamped British Business Bank, best known for running the Covid business loan schemes. Reeves made the announcement at No 11 Downing Street on Tuesday, after meeting City bosses who made up the specialised taskforce spearheading the project. Participants included Aviva’s chief executive, Amanda Blanc; NatWest’s chief executive, Paul Thwaite; the Barclays chief executive, CS Venkatakrishnan; and the former Bank of England governor Mark Carney. Labour has been crafting the NWF for months, having appointed the taskforce in March to start thrashing out exactly how it would deliver what became a core manifesto pledge for the party in the run-up to last week’s election. The chancellor insisted there would be a clear distinction between the NWF and GB Energy, another publicly owned company proposed by Labour. While GB Energy will focus on the “production of clean, low carbon energy”, investment made via the NWF will seek to deploy £1.8bn to ports, £1.5bn for gigafactories including for electric vehicles, £2.5bn to clean steel, £1bn for carbon capture and £500m to green hydrogen. Reeves said the new government was in a prime position to attract investment, amid ongoing political uncertainty in other major western economies. That includes the US, where Donald Trump is due to challenge an under-fire Joe Biden in the November presidential elections, and France, where elections resulted in a hung parliament. “I think for the first time in a long time investors will look at Britain and say it’s a country with a stable government. It’s got a clear plan, but clear mandate in the election. And that’s different from some other countries around the world today,” Reeves told journalists. The NWF will soon be established formally in UK law, making it a “permanent institution at the heart of the country’s long-term growth and prosperity”, the Treasury said. A formal head of the NWF is yet to be appointed, though the government said further details would be set out before an international investment summit to be hosted by the chancellor later this year. skip past newsletter promotion Sign up to Business Today Free daily newsletter Get set for the working day – we'll point you to all the business news and analysis you need every morning Enter your email address Sign up Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy . We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply. after newsletter promotion The announcement came after Jonathan Reynolds, the business and trade secretary, hosted a call on Tuesday morning with more than 170 senior leaders from businesses and trade associations around the UK. He set out his four key priorities, according to a departmental source: delivering an industrial strategy, which will be the cornerstone of the government’s growth mission; supporting small businesses, described as the “beating heart” of high streets, communities and economy; resetting trade relations and championing British exports; and making work pay. Reynolds told business leaders that decarbonisation did not mean deindustrialisation. He is aware that a key challenge for businesses is connectivity and the grid, and promised a cross-government focus on tackling this. Sarah Jones’s joint role with the Department for Energy Security and Net Zero, as minister for industry and decarbonisation, will be part of delivering on this agenda. Business leaders asked about streamlining their engagement with Whitehall, opportunities to increase exports, and the importance of digitalisation. Reynolds promised to be “the most accessible” business secretary, with an email address coming shortly to “tell Jonathan”.

Cutting interest rates ‘too late or too little’ could hit jobs, Fed chair warns 2024-07-09 16:04:00+00:00 - Holding interest rates too high for too long would threaten economic growth and jobs, the US Federal Reserve chair, Jerome Powell, warned Congress on Tuesday. “Elevated inflation is not the only risk we face,” said Powell. During a congressional hearing, Powell signaled that while suppressing inflation remains a priority, policymakers at the Fed are now concentrating on when they choose to cut rates. The US is “no longer an overheated economy”, Powell said, adding that its job market has “cooled considerably” from its surge after the early damage inflicted by the pandemic. “We know that reducing policy restraint too soon or too much could stall or even reverse the progress we have seen on inflation,” he told the US Senate banking, housing and urban affairs committee. “At the same time, in light of the progress made both in lowering inflation and in cooling the labor market over the past two years, elevated inflation is not the only risk we face. “Reducing policy restraint too late or too little could unduly weaken economic activity and employment.” The American central bank, which raised interest rates to a two-decade high in a bid to bring down inflation, is now considering its next steps. While price growth has retreated from its highest levels in a generation, it has remained stubbornly higher than the 2% targeted by Fed officials, amid persisting concerns over the cost of living across the US. Fed officials are due to convene for their next rate-setting meeting at the end of July. As of last month, most of the central bank’s policymakers expect to cut rates once or twice this year, according to economic projections released by the Fed. skip past newsletter promotion Sign up to Business Today Free daily newsletter Get set for the working day – we'll point you to all the business news and analysis you need every morning Enter your email address Sign up Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy . We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply. after newsletter promotion Powell struck a note of optimism on price growth. “After a lack of progress toward our 2% inflation objective in the early part of this year, the most recent monthly readings have shown modest further progress,” he said. Following this modest progress, Powell added, “more good data” would strengthen the Fed’s confidence “that inflation is moving sustainably” to its 2% goal.

‘We’ll move fast and fix things’: the big transport issues for Labour 2024-07-09 15:46:00+00:00 - The new transport secretary, Louise Haigh, has told civil servants that Labour will “move fast and fix things”, prioritising rail reform and keeping an environmental focus throughout. Labour’s first moves are expected to include a rail reform bill that will also pave the way for the full renationalisation of train operations, with legislation announced in the king’s speech next week. Haigh said transport would be critical for the government’s declared missions. Speaking to officials in the Department for Transport, she said: “Growth, net zero, opportunity, women and girls’ safety, health – none of these can be realised without transport as a key enabler.” She said that there was a “once-in-a-generation opportunity to change the way our country runs, for the better”, adding that “the critical thread weaving through every priority should be greening our transport networks”. Here are some of the big issues Labour needs to tackle in transport: Reforming rail Haigh’s motto may have particular resonance for the railway, where the glaring need for reform has been widely agreed since an industry review was first launched in 2018. The broad solution – a new arms-length body unifying track and train operations – is also a matter of consensus. Labour will want to take forward its own version of Great British Railways, “after years of ministerial indecision”, as Haigh put it, as soon as it can. View image in fullscreen Keir Starmer and Louise Haigh speak to staff at Hitachi Rail in Aycliffe, England in April. Photograph: Ian Forsyth/Getty The appointment of Network Rail chairman, Lord Hendy, as transport minister will underscore that priority, although it will do little to allay the fears of those who perceive GBR as a Network Rail takeover. Although the ambition to achieve a fully publicly owned railway is scheduled to be completed only when train operator contracts expire, Haigh has said she would hasten that process where poor performances breach contracts. New Labour MPs have already highlighted their own disrupted Avanti journeys from northern seats to Westminster this week. Improving rail infrastructure – without mentioning HS2 Haigh said Britain “desperately needs new infrastructure to better connect underserved parts of the country”, not least the north, with the transport secretary both born and a constituency MP in Sheffield. Labour was never going to fall into the trap of simply backing the expensive reinstatement of Britain’s biggest infrastructure project, HS2, when its northern leg was controversially axed last year by Rishi Sunak. But given pressure from Labour northern mayors – and the headaches over capacity where the remaining HS2 high-speed railway hits the West Coast main line – there will be renewed drive to find some kind of equivalent link, as well as building new lines across the north. skip past newsletter promotion Sign up to Business Today Free daily newsletter Get set for the working day – we'll point you to all the business news and analysis you need every morning Enter your email address Sign up Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy . We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply. after newsletter promotion Resolving the strikes The kind of strikes that seemed unthinkable since rail privatisation have become a mundane misery over the last two years. The train drivers’ union Aslef is still officially in dispute. While past ministers may have seen some political capital in holding out, both sides will be more receptive to a settlement now. Labour’s wider promised “new deal for workers” is a far cry from the minimum service levels that Conservatives wished to impose on striking rail staff and should change the industrial climate, with employers likely to have more leeway to negotiate. A pay offer near the 8% offered and swiftly rejected in early 2023 could prove acceptable if it does not demand working practice reform on top. Sticking points such as mandatory Sunday shifts may appear less of an issue should better industrial relations lead to more drivers working overtime again. Accelerating better buses The ball has already started rolling in overturning the Thatcher-era deregulation of buses, but metro mayors such as Manchester’s Andy Burnham had to tread a long and winding road to reclaim public control of services. Haigh stressed to officials: “I mean it when I say that buses are the lifeblood of our communities, and they’ve too often let people down all over the country.” While both parties had pledged better buses – a cheaper and quicker way to improve transport connections than building rail – Labour is set to devolve more powers to make local franchising an easier and quicker option.

Credit score decline can be an early warning for dementia, study finds 2024-07-09 15:17:00+00:00 - The Alzheimer’s Association says the number of Americans with dementia will grow The Alzheimer’s Association says the number of Americans with dementia will grow 02:21 Credit scores — used to gauge a person's ability to fulfill their financial commitments — can also be an early warning sign of cognitive decline, according to research from the New York Federal Reserve and Georgetown University. A person's credit score, on average, starts to weaken in the five years ahead of a dementia diagnosis, while mortgage delinquencies start increasing three years prior, researchers found in an analysis of a nationally representative sample of credit reports and Medicare data on more than 2.4 million people spanning 2000-2017. While not everyone in the early stage of Alzheimer's disease and related disorders (ADRD) will fall behind on bills, for those that do, the scale of the change in delinquency is substantial. One year before diagnosis, average credit card balances in delinquency increase by more than 50% and average mortgage balances in delinquency are 11% higher, the researchers found. Roughly 600,000 delinquencies on some debt will occur over the next 10 years as a consequence of yet-to-be diagnosed ADRD, they estimate. "Our findings substantiate the possible utility of credit reporting data for facilitating early identification of those at risk for memory disorders," the researchers state in the latest findings, which echo a 2020 study that found Medicare beneficiaries who go on to be clinically diagnosed with dementia are more likely to miss payments on bills as early as six years before diagnosis. A progressive brain disorder that diminishes memory and cognitive skills over time, dementia affects roughly 15% of U.S. adults over 70. According to the Centers for Disease Control and Prevention, about 5.8 million people in the U.S. have Alzheimer's disease and related dementias, including 5.6 million 65 and older. The researchers hope to build an algorithm that will help predict who is likely to develop Alzheimer's in the future, a tool that could be used by doctors in determining whether to recommend further screening. A predictive algorithm could prove to be a low-cost, easily scalable alternative to mass magnetic resonance imaging (MRI), for instance. "It is important for family and friends to realize this happens before diagnosis, to look more holistically at finances and payment decisions that older adults might be making," Wilbert van der Klaauw, economic research adviser on household and public policy research at the New York Fed, told CBS MoneyWatch. Family members should be on the lookout for situations such as "Does this person suddenly have new credit cards?" the economist advised. Safeguarding finances "These types of financial difficulties can happen long before there is a diagnosis," Carole Roan Gresenz, a professor in Georgetown University's McCourt School of Public Policy and the School of Health, said. People should think about starting conversations to "prevent some of these financial difficulties before they happen," she added. Those difficulties can include being susceptible to financial abuse, fraud or scams including identity theft or get-rich-quick schemes, according to Monica Moreno, senior director, care and support, at the Alzheimer's Association. "Failure to address these problems or potential threats can put individuals living with dementia at great financial risk," she stated. The latest report "offers further evidence that challenges managing money or personal finances are common early warning signs of dementia," Moreno said. "It is important for family members to identify those potential signs early and intervene as soon as possible," she added. And, even though treatment options are limited for Alzheimer's and other memory-related disorders, early diagnosis can mean quicker financial planning and other changes to better safeguard those afflicted and their families. "It can be challenging to tell how a close family member or friend is managing their personal finances because it's often done independently, in private," according to Moreno. "It can be even more challenging if you are not living with the person or only see the person occasionally because you may not see other disease-related warning signs that could indicate a problem." Still, in the early stages of Alzheimer's disease, people are more likely to understand the importance of the issues and suspicious activities to avoid. "If you wait, these concepts will be more difficult to comprehend as your relatives' memories and other executive functioning skills decline," Moreno said. How to discuss with loves ones If a loved one is having difficulties managing their finances, the Alzheimer's Association offers the following suggestions: Discuss with the person how a trusted family member or friend can help with either paying bills or setting up automatic billing to avoid late payments. Create a separate account where you can keep a small, agreed-upon amount of money that the person can use for recreational activities, meals with friends, etc. Sign up to receive automatic notifications for withdrawals from bank accounts or large charges to credit cards. If you set a charge or spending limit and if the person spends more than that, the bank or credit company will let you know. Request electronic bank and credit card statements and watch for unusual purchases or changes in how the person typically spends money. Sign up for the "Do Not Call" list at donotcall.gov to protect against telemarketing calls and potential phone scams.

Nvidia, Micron, Arlo Technologies And Other Big Stocks Moving Higher On Tuesday - NVIDIA (NASDAQ:NVDA) 2024-07-09 15:01:00+00:00 - Loading... Loading... U.S. stocks were mixed, with the Dow Jones index falling around 100 points on Tuesday. Shares of NVIDIA Corporation NVDA rose during Tuesday's session. Keybanc analyst John Vinh maintained NVIDIA with an Overweight and raised the price target from $130 to $180. NVIDIA shares gained 3.5% to $132.65 on Tuesday. Here are some other big stocks recording gains in today’s session. Kymera Therapeutics, Inc . KYMR shares rose 21.7% to $38.91. . shares rose 21.7% to $38.91. Jumia Technologies AG JMIA shares surged 20.7% to $10.22 after Benchmark initiated coverage on the stock with a Buy rating and $14 price target. shares surged 20.7% to $10.22 after Benchmark initiated coverage on the stock with a Buy rating and $14 price target. Arlo Technologies, Inc . ARLO shares gained 14.5% to $15.80 after the company's subscription service surpassed 4 million paid accounts. . shares gained 14.5% to $15.80 after the company's subscription service surpassed 4 million paid accounts. Larimar Therapeutics, Inc . LRMR climbed 9.9% to $9.00. . climbed 9.9% to $9.00. Revolution Medicines, Inc . RVMD gained 9.7% to $43.37. . gained 9.7% to $43.37. Praxis Precision Medicines, Inc . PRAX shares climbed 7.7% to $45.66. . shares climbed 7.7% to $45.66. Newegg Commerce, Inc . NEGG rose 7% to $1.1685. Newegg Commerce recently announced that the presale for its tenth annual FantasTech Sales event is now live. . rose 7% to $1.1685. Newegg Commerce recently announced that the presale for its tenth annual FantasTech Sales event is now live. Travere Therapeutics, Inc . TVTX gained 6.9% to $9.33. . gained 6.9% to $9.33. Sezzle Inc. SEZL gained 5.4% to $93.99. gained 5.4% to $93.99. Flywire Corporation FLYW shares climbed 5.2% to $17.14 shares climbed 5.2% to $17.14 Cirrus Logic, Inc . CRUS rose 4.4% to $136.15. Keybanc analyst John Vinh maintained Cirrus Logic with an Overweight and raised the price target from $120 to $155. . rose 4.4% to $136.15. Keybanc analyst John Vinh maintained Cirrus Logic with an Overweight and raised the price target from $120 to $155. Micron Technology, Inc. MU rose 3.1% to $134.71. Keybanc analyst John Vinh maintained Micron Technology with an Overweight and increased the price target from $160 to $165. Read Next:

Organizer of World Economic Forum in Davos Accused of Discrimination 2024-07-09 14:56:15+00:00 - A former employee of the World Economic Forum, the nonprofit organization behind the glittery annual gathering of business and political leaders in Davos, Switzerland, sued the group and its founder, Klaus Schwab, on Monday, accusing them of workplace discrimination. In a lawsuit filed in U.S. District Court in Manhattan, Topaz Smith, who is Black, said the organization embraced a “scofflaw approach to anti-discrimination laws” and oversaw a hostile atmosphere toward women and Black workers. She added that it denied her and other Black employees opportunities to advance professionally. The nonprofit organization’s conferences — particularly the one in Davos in January — have become destinations for the global elite to meet and network under the auspices of saving the world. (The theme of this year’s forum in Davos was “Rebuilding Trust,” while last year’s was “Cooperation in a Fragmented World.”) An article in The Wall Street Journal last month, citing internal complaints and interviews with current and former employees, said workers had accused the organization of sexual harassment and racism.

Commvault Stock: AI Cybersecurity Giant Ready to Double Again 2024-07-09 14:26:00+00:00 - Commvault Systems Today CVLT Commvault Systems $119.99 -2.06 (-1.69%) 52-Week Range $63.70 ▼ $126.93 P/E Ratio 31.91 Price Target $124.50 Add to Watchlist Commvault Systems NASDAQ: CVLT share price nearly doubled in the last nine months because of its utility and appeal for business. The company is a leading data protection and recovery service focused on fighting AI-driven threats. AI-powered threats are the most insidious of cyber threats because they can slip in undetected and wreak havoc across a network. Commvault’s products and services use AI to fight AI, providing quicker detection, response, and recovery of backed-up data. Because AI is in its earliest phases and cybersecurity is only going to become more necessary, Commvault should continue to see demand drive growth. Get Commvault Systems alerts: Sign Up Commvault Is in Rally Mode but Overdue for a Price Correction Commvault stock is in rally mode and can rise another 100%, but it is unlikely to do so in a straight line. The latest quarterly results catalyzed the market and sent it to a new high, but it is in a precarious position now and set up to correct. The price for CVLT shares is 2.5% above the 30-day EMA and more than 15% above the 150-day EMA, setting it up for a significant 10% to 20% fall that could come soon. The technical indications include overbought conditions and momentum divergences that suggest the market is overextended and weak at current levels. A move to lower price points would be healthy and allow the market to regroup for another push higher. The next catalyst for the market will be the FQ1 results due at the end of July. The analysts have trimmed their targets so the consensus aligns with the company guidance, which was cautious given the environment. The FQ4 results were solid and included strength on the top and bottom lines. The company grew 10% system-wide on a 27% gain in subscriptions, proving that the shift to the SaaS model is working. Subscriptions grew to nearly 54% of the revenue and are expected to continue taking share in FQ1 and the full year of fiscal 2025. The salient point is that the company is growing and widening its margins, driving sufficient cash flow and free cash flow to sustain and improve its balance sheet. At the end of F2024, balance sheet highlights include a cash build, increased assets, reduced debt, and a 50% increase in shareholder equity. The company hasn’t paid a dividend yet but may in the future. Until then, it buys back shares and is building leverage for investors. The basic share count is down compared to last year and is expected to fall in fiscal 2025. The only downside is that dilution remains a risk; the company has ample shares to sell if needed, and there are convertible debts. Insiders Sell, Institutions Buy Commvault Commvault Systems MarketRank™ Stock Analysis Overall MarketRank™ 2.94 out of 5 Analyst Rating Moderate Buy Upside/Downside 3.7% Upside Short Interest N/A Dividend Strength N/A Sustainability -0.72 News Sentiment 0.55 Insider Trading Selling Shares Projected Earnings Growth 14.71% See Full Details Insiders have been selling Commvault stock this year, but there are mitigating factors that make it a non-event. The insiders own a small 1% of the company, sales are related to share-based compensation, the insiders are selling into a strong rally, and the institutions are buying. Institutional activity more than offsets the insiders and has been net bullish for the last three quarters, aligning with the rally to new highs. Given an attractive opportunity, they own nearly 95% of the floating stock and may be expected to continue buying and ramp activity. Analysts are supporting the market, so any correction that comes will likely be shallow and short-lived, provided no change in the outlook. Analysts have lifted the sentiment to Moderate Buy from Hold in the last six months and increased the consensus price target reported by MarketBeat.com by 75%, 5% since the last report. The fresh targets lead to the high end of the expected range and include the new high of $140. KeyCorp set the $140 target in early July, implying a 15% upside for this market. Before you consider Commvault Systems, 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 Commvault Systems wasn't on the list. While Commvault Systems currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here

Employees With Autism Find New Ways to Navigate the Workplace 2024-07-09 14:12:20+00:00 - When Chelsia Potts took her 10-year-old daughter to a psychologist to be tested for autism spectrum disorder, she decided almost as an afterthought to be tested herself. The result came as a surprise. Like her daughter, Ms. Potts was diagnosed with autism. Ms. Potts, 35, thought she might have had anxiety or some other issue. A first-generation college student, she had earned a doctor of education degree and risen through academia to become a high-level administrator at Miami University in Oxford, Ohio. But after her visit to the psychologist, she had to figure out how her diagnosis would affect her work life. “Initially, I was confused, and I did keep it to myself,” Ms. Potts said. “I had a picture of what someone with autism looked like, and that did not look like me.” She considered the ways she had compensated in the past in an effort to hide her disability and come across as a model employee — a coping mechanism known as “masking.”

Intuit Stock Ready to Soar: RBC Sees Big Upside with GenAI 2024-07-09 14:02:00+00:00 - Intuit Today INTU Intuit $650.42 -9.16 (-1.39%) 52-Week Range $447.01 ▼ $676.62 Dividend Yield 0.55% P/E Ratio 60.00 Price Target $687.22 Add to Watchlist Intuit NASDAQ: INTU is seated in the technology sector and specializes in providing tax and small-business accounting software. RBC Capital recently initiated coverage on the company, setting a price target of $760, implying a 15% upside from the current price. Lead analyst Rishi Jaluria believes the firm can monetize GenAI across its products. Let's take some time to understand Intuit’s business and break down RBC's bullish argument. Get Intuit alerts: Sign Up Intuit’s Products and Market Dominance Intuit has four main products: TurboTax, Credit Karma, QuickBooks, and MailChimp. TurboTax is a software and service for filing tax returns. Credit Karma provides access to credit scores and reports and helps track personal finances. QuickBooks is small business accounting software, and MailChimp is an email marketing platform for creating and tracking email campaigns. Intuit operates as four reportable segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax. The Small Business & Self-Employed segment sells QuickBooks and MailChimp, making up 56% of total revenue. TurboTax is in the Consumer segment, making up 29% of total revenue. The company’s TurboTax platform managed 28% of IRS returns last year. The firm had a 70% market share amongst those who chose to file their returns without professional help. QuickBooks controls 81% of the small business accounting market share. This market is currently worth $20 billion and is expected to grow by 9.2% annually until 2029. Intuit Inc. (INTU) Price Chart for Tuesday, July, 9, 2024 Breaking Down RBC’s Bull Case for Intuit Intuit's powerful market shares are one reason Jaluria believes the firm can greatly benefit from implementing GenAI. These market shares give them access to massive amounts of data, which they can use to train algorithms and deliver more value to their customers. Regarding TurboTax, Benjamin Franklin's phrase applies well: "Nothing is certain, except death and taxes." Everyone must file their taxes, but almost no one is a tax expert. This can cause people to have a lot of questions when filing. RBC believes Intuit has a big opportunity to harness and monetize GenAI here. AI will allow the company's in-house human tax experts to provide faster and better answers to individual tax situations. Customers can also get questions answered directly by Intuit's GenAI. This should lower costs and provide more value to customers, which should, in turn, keep those customers and drive them to use Intuit's other products. Intuit Assist: Transforming Financial Services with Artificial Intelligence Intuit Assist is the firm's new financial assistant, which will use GenAI's power. The platform is being implemented across all of Intuit's products. The firm hopes to drive cost reduction and improved insights into taxes, personal finance, small business accounting, and marketing intelligence. We already have some data on customers utilizing Intuit Assist. In the firm's earnings call last quarter, CEO Sasan Goodarzi said that more than 24 million customers used Intuit Assist to explain their refund last year. Nearly half of Credit Karma's 40 million active users now have access to GenAI capabilities. With Credit Karma, customers can have a conversation with Intuit Assist. For example, they can ask specific questions to understand why one credit card is a better option for them than another. Goodarzi emphasized that if these features were not helping with monetization, the company would not have rolled them out to so many customers. Strong Quarterly Growth for Intuit: Revenue and EPS Increase Intuit MarketRank™ Stock Analysis Overall MarketRank™ 4.87 out of 5 Analyst Rating Moderate Buy Upside/Downside 5.7% Upside Short Interest Healthy Dividend Strength Strong Sustainability -0.21 News Sentiment 0.88 Insider Trading Selling Shares Projected Earnings Growth 16.04% See Full Details The firm grew revenues solidly in the quarter, up 12% from the previous year, and adjusted earnings per share (EPS) was up 11%. Growth in the Small Business & Self-Employed segment of 18% is particularly encouraging. This is the firm's largest and most consistent segment. It also has the highest operating margin in every quarter other than tax season. The Consumer segment revenue and margins spike in that quarter. Analysts expect net income to increase by 16% annually over the next three years. When it comes to valuation, the firm's forward P/E ratio sits at 36, in the 66th percentile of the U.S. technology sector. Many analysts are bullish on the shares, with 22 out of 31 rating the company as a Buy or Strong Buy. But, most are not as bullish as RBC, with the average price target only implying an upside of 6%. Before you consider Intuit, 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 Intuit wasn't on the list. While Intuit currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here

Powell Welcomes Cooling Inflation but Wants ‘More Good Data’ Before Rate Cut 2024-07-09 14:01:26+00:00 - Jerome H. Powell, the chair of the Federal Reserve, indicated on Tuesday that recent inflation data had given the central bank more confidence that price increases were returning to normal, and that continued progress along these lines would help to pave the way toward a central bank rate cut. “The Committee has stated that we do not expect it will be appropriate to reduce the target range for the federal funds rate until we have gained greater confidence that inflation is moving sustainably toward 2 percent,” Mr. Powell said. He added that data earlier this year failed to provide such confidence, but that recent inflation readings “have shown some modest further progress, and more good data would strengthen our confidence that inflation is moving sustainably toward 2 percent.” Mr. Powell delivered the remarks on Tuesday in an appearance before the Senate Banking Committee. While Mr. Powell avoided zeroing in on a specific month for when the Fed might begin to cut interest rates, he also did little to push back on growing expectations that a reduction could come in September. Fed officials meet in late July, but few economists expect a move that early.

Reliability of U.S. Economic Data Is in Jeopardy, Study Finds 2024-07-09 14:00:07+00:00 - Federal Reserve officials use government data to help determine when to raise or lower interest rates. Congress and the White House use it to decide when to extend jobless benefits or send out stimulus payments. Investors place billions of dollars worth of bets that are tied to monthly reports on job growth, inflation and retail sales. But a new study says the integrity of that data is in increasing jeopardy. The report, issued on Tuesday by the American Statistical Association, concludes that government statistics are reliable right now. But that could soon change, the study warns, citing factors including shrinking budgets, falling survey response rates and the potential for political interference. The authors — statisticians from George Mason University, the Urban Institute and other institutions — likened the statistical system to physical infrastructure like highways and bridges: vital, but often ignored until something goes wrong. “We do identify this sort of downward spiral as a threat, and that’s what we’re trying to counter,” said Nancy Potok, who served as chief statistician of the United States from 2017 to 2019 and was one of the report’s authors. “We’re not there yet, but if we don’t do something, that threat could become a reality, and in the not-too-distant future.”

PDD Holdings is a Screaming Buy: Hypergrowth Stock at a Discount 2024-07-09 13:45:00+00:00 - PDD Holdings Inc. NASDAQ: PDD is a Chinese e-commerce company that mainly operates two popular online businesses. The core business is the social commerce company Pinduoduo. Temu is their second business, an online store known for selling heavily discounted products sourced directly from manufacturers and factories in China. The combination of the two businesses has generated hypergrowth revenue streams that seem too good to be true at times. PDD Today PDD PDD $137.72 +3.04 (+2.26%) 52-Week Range $69.06 ▼ $164.69 P/E Ratio 18.24 Price Target $188.33 Add to Watchlist However, the selloff in Chinese technology stocks has also hit PDD, causing its stock to trade down 6.92% year-to-date (YTD) compared to the 21.16% YTD performance of the Nasdaq-100. While their products appeal to budget-conscious shoppers, value-conscious investors may be interested in taking a look at this hypergrowth stock trading at just 11.94x forward earnings. Get Alphabet alerts: Sign Up PDD Holdings is a multi-sector conglomerate that competes with other Chinese e-commerce companies and digital marketplaces, such as Alibaba Group Inc. NYSE: BABA, JD.com, Inc. NASDAQ: JD, and Amazon.com Inc. NASDAQ: AMZN. Pinduoduo Pioneers the Social Commerce Model Social commerce is a new term coined in the age of social media. It leverages social media to help promote products while enabling users to purchase them directly through the social media platform and app. Pinduoduo took the concept one step further. Users find products they like on Pinduoduo and can get the price to decrease as they recruit family and friends to join in purchases. The deeper discounting mechanism incentivizes social sharing while also building a sense of urgency to close deals before they disappear. Gamification is also embedded into the process with social games like pinwheels and daily check-in rewards, flash sales, gifting, and the ability to earn points. The convenience factor is embedded in the process as mobile is the primary access to the platform. The success of Pinduoduo in China led management to parlay its success outside of China with a new platform called Temu. Temu is a Magnet For Growth Temu exploded onto the scene and quickly became one of the most downloaded ecommerce apps in a matter of months by offering unbelievable discounts on products selling for literally pennies on the dollar. Social media influencers on TikTok and Alphabet Inc. NASDAQ: GOOGL owned YouTube helped spread the viral popularity of Temu. Gamification is heavily integrated into the promotions, helping its popularity spread like wildfire. TEMU launched in July 2022 and has acquired a 17% market share of the U.S. online discount store market. The prices are so ridiculously cheap that users feel like they can "shop like a billionaire," as is their logo. The name Temu is short for "Team Up, Price Down," which was the pricing concept behind Pinduoduo. Temu has grown its customer base to over 167 million monthly active users (MAUs) globally. Temu is also a Magnet for Controversy With such meteoric growth, controversy is always bound to follow. One of the most common complaints with Temu is the poor quality of its goods. Just as quickly as it went viral on social media for the bargains, it also gained a reputation for cheaply constructed merchandise, with videos underscoring this point. Its rating at the Better Business Bureau is a C+, with many complaints about items not being delivered, falling apart, and having misleading descriptions. However, the company is diligent in responding to complaints, as every posted complaint receives a template response. Nonetheless, Temu continues to drive growth for PDD despite being unprofitable. PDD is in a Descending Triangle Pattern The daily candlestick chart for PDD illustrates a descending triangle pattern—the descending trendline formed at the $164.69 swing high. The descending upper trendline was formed from the lower highs on bounce attempts down to the flat-bottom lower trendline at $133.10. The breakdown was attempted on June 27, 2024, but shares bottomed at $130.05 and repelled back higher to the descending trendline. PDD continues closer to the apex point. The daily relative strength index (RSI) has stalled at the 42-band. Pullback support levels are at $133.10, $122.56, $113.36, and $104.95. PDD Knocks it Out of the Park with Q1 2024 Results PDD MarketRank™ Stock Analysis Overall MarketRank™ 4.82 out of 5 Analyst Rating Buy Upside/Downside 36.8% Upside Short Interest Healthy Dividend Strength N/A Sustainability -1.41 News Sentiment 1.29 Insider Trading N/A Projected Earnings Growth 24.45% See Full Details PDD Holdings reported a 246% increase in Q1 2024 net income of $3.87 billion. Non-GAAP EPS was $2.86, crushing consensus estimates by $1.43. Revenues rose 131% YoY to $12.02 billion, crushing consensus estimates by $1.4 billion. Marketing services revenues rose 56% to $5.8 billion. Transaction services revenues jumped 327% to 6.14 billion. The company closed the quarter on March 31, 2024, with $33.5 billion in cash and cash equivalents. PDD Holdings Co-CEO Lei Chen made some interesting comments during the conference call: “We are not a conventional company, and we hope to show you the true colors of our company no matter how bumpy or rough the numbers may seem to be. Our business does not follow a linear path, and our earnings will almost certainly fluctuate.” As a disclaimer, Chen added, “Therefore, we suggest our shareholders not to measure our overall performance with results from a few quarters. Our financial performance may beat or miss market expectations at times. Still, as long as we keep focusing on long-term value creation, ultimately, this short-term fluctuation will converge to our growing intrinsic value. Amazon.com Plans to Launch a New Direct From China Section According to a report from The Information, Amazon may be planning to launch a new marketplace that sources deep discounted and unbranded items directly from Chinese manufacturers similar to Temu. The orders will ship to customers in 9 to 11 days. Products range from everyday items to apparel to home goods. Amazon hasn’t officially announced its plans. PDD Holdings analyst ratings and price targets are at MarketBeat. Nine analysts endorse a buy rating, with an average price target of $188.33, implying a 38.29% upside. Before you consider Alphabet, 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 Alphabet wasn't on the list. While Alphabet currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here

How to Place Diagonal Debit Spreads if You’re Slightly Bullish 2024-07-09 13:00:00+00:00 - Using stock options can help manage risk, providing you with different ways to trade an underlying stock in the direction you believe it will go. Most of the options spread strategies we’ve covered have been vertical spreads. Vertical spreads involve the two option legs, comprised of a long and short option, sharing the same expiration date. With diagonal spreads, on the other hand, the two option legs have different expiration dates. The earlier expiration date is called the "front month," and the longer expiration date is called the "back month." In this article, we'll review how to play a bullish diagonal debit spread using calls, also referred to as a long call diagonal debit spread or a poor man’s covered call. Get NVIDIA alerts: Sign Up Evolving from a Covered Call Strategy The simplest way to get a grasp on this is to think of a covered call strategy. This entails you owning the stock and then selling (also referred to as writing or shorting) a higher out-of-the-money (OTM) strike price. By doing this, you would receive a credit payment upfront (like rent). Ideally, you want to keep the credit by having the stock close below the strike price on expiration. Then, you keep your stock and the credit with the ability to write another covered call against it to collect more income. Spend Less for a Covered Call with a Long Call Diagonal Debit Spread A covered call strategy requires you to own the underlying stock. It’s an expensive strategy since you have to possess the shares. However, you can create a synthetic long position by buying an in-the-money (ITM) call on the underlying stock with a longer expiration. This enables you to collect the premiums like a covered call at a fraction of the price of a covered call trade, which is why it’s also referred to as a poor man’s covered call. Now you have a long call diagonal debit spread. To review, here's the breakdown: Buy an in-the-money (ITM) call at a lower price with a back-month expiration. Sell an out-of-the-money (OTM) call at a higher strike price with a front-month expiration. For example, XYZ stock is trading at $50, then buy 1 XYZ $45 call expiring in 90 days and sell 1 XYZ $55 call expiring in 30 days. When to Consider a Diagonal Debit Spread? Just like a covered call strategy, consider using a diagonal debit spread when you’re feeling neutral or moderately bullish on a stock to collect the credit premium or finance the long call. Ideally, you want the stock to close below the front month OTM higher price call strike price to keep the credit. If the stock rises through the strike price by expiration, you will start to take losses whereas your stock would be assigned in a covered call trade. Example of a Long Call Diagonal Debit Spread with NVDA. Let's use artificial intelligence (AI) chip leader NVIDIA NASDAQ: NVDA in the computer and technology sector as an example. The candlestick chart on NVDA illustrates a pullback off its 52-week highs at $140.76. NVDA found support at the $118.00 level, where it bounced back up to $128.00 before sliding back down toward $121.46 on July 2, 2024. Let’s assume you believe NVDA will hover between $121 and $124 for the next 2 weeks. You also believe that $118.00 is a solid support level. In this instance, you could consider a long call diagonal spread. Executing the Trade Depending on your brokerage platform, you may have the automated function of placing the long call debit spread simultaneously with one click. Otherwise, you’ll have to place it manually. If you are placing the order manually, you'll first need to establish the ITM long call position and the back-month expiration. Say you choose to buy a long 1 NVDA $118.00 strike call expiring Aug. 2, 2024, in 31 days for $8.90 per contract. This covers the long call in place for $890, which is cheaper than buying 100 shares of NVDA at $121.46 or putting up $12,146.00. Next, you'll need to set up the credit by selling/shorting an OTM call at a higher strike price for the front month. Say you choose to sell 1 NVDA $124.00 call expiring July 12, 2024, in 10 days for a credit of $2.63. This is like writing a covered call and collecting the premium, but without actually owning the stock. The $2.65 credit is applied to the cost of the $118.00 call at $8.90, resulting in a net debit of $6.27, which is the new cost of the trade. Outcomes Will Vary Unlike a covered call and owning the stock long, we are losing from time decay (Theta) on the ITM long call daily. However, since it is ITM and has a back-month expiration, the Theta decay on the long call is less than the Theta decay on the short call. This means Theta is still our friend up through the front month expiration. Remember that Theta loses value fastest in the last week of expiration. The outcomes will vary depending on where NVDA closes on the July 2, 2024 expiration. If NVDA manages to expire at or under $124.00, then you keep the $2.65 credit. The price of NVDA also determines the price of your ITM back-month call. For this reason, you want NVDA to close near the $124.00 strike price to benefit from the underlying price appreciation of $121.46. An at-the-money (ATM) close on July 2, 2024, would be the maximum profit on the trade. The short call would fall to zero. The value of the long call would have risen, just like when you write a covered call. Or you can continue to hold the ITM back month call and sell another front month OTM call to continue to finance the long call. There Are Many Options With These Options A call diagonal debit spread or poor man's covered call has many moving parts. The value of the long call will adjust with the movement of the underlying stock, volatility and time decay. This strategy is best used when implied volatility (IV) is low and starts to rise. This helps increase the value of the long call. If the stock triggers a breakout, you could opt to hold the call and let it ride before selling a higher OTM call to restart the trade.

Greenbrier Companies Stock Enters Buy Zone – Opportunity Knocks 2024-07-09 11:19:00+00:00 - The Greenbrier Companies NYSE: GBX stock is returning to the buy zone. The business is boring, and the Q3 release is uninspiring, but neither are reasons for income investors to shed the stock. The results certainly aren’t reasons for its price to drop more than 10%, which is why the stock price correction in GBX is a good buying opportunity to load up on more shares. Greenbrier Companies Today GBX Greenbrier Companies $45.57 +1.43 (+3.24%) 52-Week Range $32.00 ▼ $58.00 Dividend Yield 2.63% P/E Ratio 13.40 Price Target $54.00 Add to Watchlist While tepid, the Q3 results reveal industry normalization following the supply-chain logjams of 2021 and 2022 and a business shift that drives margin improvement. The results also come with positive guidance that includes a return to growth for this transportation stock. Get Greenbrier Companies alerts: Sign Up Because the company makes money, pays a market-beating dividend, and repurchases shares, its stock price should rebound soon. Because the company is returning to growth with record-setting margins, the stock price should be able to sustain a rally and increase to a multi-year high by mid-2025. The Greenbrier Companies Widens Margin in Tough Environment Greenbrier struggled in Q3, with revenue contracting by 22% compared to last year, and missed the consensus by more than 1000 basis points. The weakness is primarily due to normalizing rail traffic and the timing of shipments, which are offset to a degree by the growing rental business. The new car and maintenance services segments declined, but the rental business is booming. The company added 600 cars to its fleet, an increase of 4%, to drive a 25% increase in segment revenue and maintained a near-100% utilization rate. This is important because the rental fleet generates recurring revenue and is a high-margin business. Margin news is favorable. The company widened its gross margin by 280 bps YoY to near-record levels. The margin improvement carried through to the bottom line and generated the highest EBITDA and GAAP earnings for more than four years. However, the results failed to impress the market. The earnings were weaker than expected and helped lower the stock price despite the 65% YoY increase. Guidance suggests a stock price rebound will come soon. The guidance was as expected, with revenue and earnings bracketing the consensus forecast reported by MarketBeat, which is no catalyst for a rally. However, the guidance assumes shipments will improve over the quarter, the full-year outlook was reiterated, and CEO commentary is positive. Ms. Tekorius expects sequential revenue growth in Q4; the market forecasts business growth to continue in F2025 and for YoY growth in the back half of the year. The Greenbrier Companies' Capital Return is Safe in 2024 Greenbrier Companies Dividend Payments Dividend Yield 2.69% Annual Dividend $1.20 Annualized 3-Year Dividend Growth 1.82% Dividend Payout Ratio 35.29% Next Dividend Payment Aug. 13 See Full Details The Greenbrier Company struggled in Q3, but profitability improved, helping sustain balance sheet health and capital returns. While cash decreased, assets and equity improved, providing leverage for revenue and shareholder value. Capital returns include dividends and share repurchases. Share repurchases reduced the count by an average of 4.6% in Q3 and are expected to continue. The dividend and valuation make GBX a deep-value/high-yield company compared to the S&P 500. The dividend is worth $1.20 annually or about 2.5%, double the broad market average. Shares are trading near 11x earnings or about half the value of the average S&P 500 company. The Greenbrier Companies Sets Up for a Trend-Following Signal The Greenbrier Companies stock is in a correction but has not broken the trend. The trend was set in 2023 by the institutional investing community, a buyer of this stock. The institutions have bought on balance for five consecutive quarters, helping to lift the market to the high end of a trading range, and will likely support the price now. The risk is that support at the long-term EMA will fail, in which case this stock could pull back to $35 or lower. Before you consider Greenbrier Companies, 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 Greenbrier Companies wasn't on the list. While Greenbrier Companies currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here

Eli Lilly Stock Leads in GLP-1 Race with its Triple Agonist Drug 2024-07-09 11:18:00+00:00 - Global pharmaceutical company Eli Lilly & Co. NYSE: LLY has been in a GLP-1 arms race with its FDA-approved therapies Mounjaro and Zepbound. It's been going heads-up against GLP-1 leader Novo Nordisk A/S NYSE: NVO, best known for Ozempic and Wegovy. Eli Lilly and Company Today LLY Eli Lilly and Company $932.50 +14.50 (+1.58%) 52-Week Range $434.34 ▼ $935.00 Dividend Yield 0.56% P/E Ratio 137.33 Price Target $816.78 Add to Watchlist By all accounts, Eli Lilly's Tirzepatide, the active ingredient in Mounjaro and Zepbound, is superior on paper to Semaglutide, the active ingredient in Ozempic and Wegovy, because it targets two hormones compared to one. However, currently in Phase 2 clinical trials, its secret weapon for weight loss targets three hormones as the ultimate triple threat. Get Eli Lilly and Company alerts: Sign Up Eli Lilly operates in the medical sector, facing competition from upcoming GLP-1 contenders from Viking Therapeutics Inc. NASDAQ: VKTX, Altimmune Inc. NASDAQ: ALT, and Structure Therapeutics Inc. NASDAQ: GPCR. Eli Lilly: Expanding the Indications Race for GLP-1 Treatment GLP-1 drugs were developed to regulate glucose levels for Type 2 diabetes patients. Weight loss was a noticeable and serendipitous side effect that took the medical community by storm. In addition to weight loss, both Novo Nordisk and Eli Lilly have been trying to expand the indications for GLP-1 more medical conditions, including sleep apnea, non-alcoholic steatohepatitis (NASH), metabolic dysfunction-associated steatohepatitis (MASH), cardiopulmonary disease, stroke, kidney disease, hypertension, Parkinson’s Disease, and Alzheimer’s Disease. These are all complementary indications that tend to stem from obesity. Expanding the labels leads to a larger user base and more revenues. If Targeting 2 Hormones is Good, Then 3 Hormones Must Be Great Semaglutide mimics the GLP-1 hormone, which is released after eating a meal and provides the feeling of being full. Tirzepatide is another GLP-1 agonist but also mimics glucose-dependent insulinotropic polypeptide (GIP), which releases more insulin in the bloodstream and effectively lowers blood sugar levels. Eli Lilly has gone a step further with Retatrutide by targeting a third hormone glucagon (GCG) receptors, similar to Altimmune’s Pemvidutide. Glucagon receptors increase energy expenditures with direct effects on hepatic fat metabolism, which reduces serum lipids and liver fats. Eli Lilly's Retatrutide Resulted in the Most Weight Loss of Any GLP-1 Drug Yet Lilly published its Phase 2 clinical trial results for Retatrutide on June 26, 2024. Participants reached a mean weight reduction of up to 24.2% at 48 weeks. For reference, Ozempic showed an average weight loss of 15% after 48 weeks. Altimmune's GLP-1/glucagon agonist Pemvidutide showed an average 15.6% mean weight loss after 48 weeks. Zepbound at 15 mg (max dosage) showed an average weight loss of up to 20.9% after 72 weeks. Phase 3 clinical trials for Retatrutide are expected to run until late 2025. If the result can be duplicated in a larger sample, it could be the biggest blockbuster drug ever. Tirzepatide Drives Lilly’s Revenues and Raised Guidance for 2024 Eli Lilly's Tirzepatide medications Mounjaro and Zepbound have caused its revenues to surge 26% in Q1 2024 to $8.77 billion. Lilly raised its full-year 2024 revenue outlook from $42.4 billion to $43.6 billion. In Q4 2023, Mounjaro was Lilly's top-selling drug, generating $2.2 billion in revenues, up from just $279 million in Q4 2022. Mounjaro sales were $5.16 billion for the full year 2023. In Q1 2024, Mounjaro sales more than tripled YoY to $1.8 billion. Eli Lilly and Company (LLY) Price Chart for Tuesday, July, 9, 2024 Keep in mind that Mounjaro is a Type 2 diabetes medication often used off-label for obesity. Its official obesity drug, Zepbound, went on sale in December 2023 and went into shortage by April 2024. Zepbound hit 77,590 new prescriptions in the United States for the week ending March 8, 2024, beating rival Wegovy. Eli Lilly’s Alzheimer’s Disease Drug Could Generate $2 billion to $5 Billion Annually While Mounjaro and Zepbound seem to be all that's talked about with Eli Lilly, it made headlines on its recent FDA approval for Kisunla (Donanemab). The Alzheimer's drug is designed to lower amyloid plaque levels in the brain, which is widely believed to be a major contributor to the development and progression of Alzheimer's. BMO believes it could generate peak annual sales between $2 billion to $5 billion upon a slow ramp-up. Eli Lilly & Co. analyst ratings and price targets are at MarketBeat. Before you consider Eli Lilly and Company, 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 Eli Lilly and Company wasn't on the list. While Eli Lilly and Company currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here

Top Wall Street strategist explains why he's abandoning an S&P 500 target 2024-07-09 06:56:00+00:00 - Piper Sandler will no longer release year-end price targets for the S&P 500 (^GSPC) after concluding that the index no longer truly reflects the stock market's performance. In a video interview on Yahoo Finance, Piper Sandler co-chief investment strategist Michael Kantrowitz explained the firm’s reasoning. “In the last few months, as I was trying to think about raising my target again, I didn't really feel that comfortable being intellectually honest saying that I can have a high conviction view of where the S&P 500 is going to end up,” Kantrowitz said. “Nor did I think it really adds value to our clients who are institutional investors.” According to a note from Piper Sandler, a small group of high-performing stocks, including “Magnificent Seven” tech names such as Alphabet (GOOG, GOOGL), Apple (AAPL), and Tesla (TSLA), significantly influence the market's activity. Piper Sandler found that the top 10 stocks represented 75% of the index’s year-to-date returns. And, as Yahoo Finance’s Josh Schafer observed, AI darling Nvidia (NVDA) was solely responsible for nearly one-third of the S&P 500’s gains as of late June. Kantrowitz maintained the importance of having a bullish or bearish view of the market and reiterated that Piper Sandler continues to have a bullish view for this year. Previously, the firm's year-end price target for the S&P 500 stood at 5,250. On Monday, the benchmark index closed at 5,572. However, Kantrowitz cited how investors view large caps and smaller-cap stocks differently due to their respective performances. While the S&P 500 managed to reach all-time highs in the second quarter of this year, the average stock saw a decline in value. Instead of focusing on the S&P 500, Kantrowitz told Yahoo Finance that he recommends clients prioritize "quality at a reasonable price" by focusing on companies that outpace their peers in terms of earnings growth but aren’t the most expensive. "You kind of have to sacrifice a little bit of growth, perhaps, in quality to find names that aren’t egregiously expensive,” he said. "We’ve got — in the S&P 500 — 50 names that have beaten the index this year, and it’s not just about all AI or all tech." Earlier this year, multiple strategists raised their targets for the S&P 500 due to the record-breaking rally that had continued to pick up steam. Ultimately, strategists are finding it difficult to keep up, and there may be more that take a similar approach to Piper Sandler and pivot away from monitoring the index. Story continues Year to date, the S&P 500 is up nearly 17%. Traders work on the floor of the New York Stock Exchange on June 18 in New York City. (Spencer Platt/Getty Images) (Spencer Platt via Getty Images) Click here for in-depth analysis of the latest stock market news and events moving stock prices Read the latest financial and business news from Yahoo Finance

Stock market today: S&P 500, Nasdaq eke out fresh records with Powell on deck 2024-07-09 05:44:00+00:00 - US stocks gained on Monday to start a consequential week that could provide key signals for the near-term path of interest rates. The S&P 500 (^GSPC) rose 0.1% and the tech-heavy Nasdaq Composite (^IXIC) climbed 0.3%, with each index managing to notch fresh records. The Dow Jones Industrial Average (^DJI) erased earlier session gains to slip 0.1%. The S&P and Nasdaq added to Friday's records secured in the wake of the jobs report, which signaled continued cooling in the labor market. That prompted an influx of bets on a September rate cut from the Federal Reserve. About 3 in 4 traders expect a cut in September, according to the CME FedWatch tool. Events this week could add to that growing rate-cut momentum. Fed Chair Jerome Powell is set to appear in Congress for semiannual testimony on Tuesday and Wednesday. Then comes the latest Consumer Price Index print, set for release on Thursday. Economists expect headline inflation rose 3.1% over the last year, which would match the lows where the CPI started the year. In corporates, Boeing (BA) pleaded guilty to a criminal conspiracy charge in relation to two fatal 737 Max crashes. Shares climbed less than 1%. Meanwhile Tesla stock (TSLA) erased early session losses to turn positive as the EV giant notched its ninth straight day of gains. The stock closed up 0.5%.