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Dropbox

Dropbox is a leading provider of cloud-storage and content collaboration tools with an emphasis on individuals and SMB. The company was founded in 2007 and was a pioneer in cloud storage and cross-platform file syncing. Utilizing inorganic and organic means, the firm has been working on diversifying its product mix and pivoting away from the cloud-storage space.

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DASH

Ventas recientes de insiders en Bank of America, Royal Caribbean, DoorDash y Dropbox, y lo que esto podría significar para los inversores.

Bank of America, Dropbox y otras 2 acciones que los insiders están vendiendo

Dropbox Inc

XTRACKERS STX GLBL ETF 1D by Xtrackers

HC Wainwright &amp; Co. analyst Vernon Bernardino reiterates Geovax Labs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOVX#NASDAQ">GOVX</a>) with a Buy and maintains $8 price target.

Price Target

Reiteration

Analyst Ratings

GOVX

HC Wainwright & Co. Reiterates Buy on Geovax Labs, Maintains $8 Price Target

HC Wainwright &amp; Co. analyst Emily Bodnar reiterates MiNK Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INKT#NASDAQ">INKT</a>) with a Buy and maintains $9 price target.

INKT

HC Wainwright & Co. Reiterates Buy on MiNK Therapeutics, Maintains $9 Price Target

HC Wainwright &amp; Co. analyst Joseph Pantginis reiterates Shattuck Labs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STTK#NASDAQ">STTK</a>) with a Neutral.

STTK

HC Wainwright & Co. Reiterates Neutral on Shattuck Labs

Macro Economic Events

Econ #s

Economics

U.K. Labour Productivity For Q2 0.2% Vs. 0.1% Prior

HC Wainwright &amp; Co. analyst Yi Chen reiterates Orchestra BioMed Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OBIO#NASDAQ">OBIO</a>) with a Buy and maintains $14 price target.

Orchestra BioMed Holdings, Inc. - Ordinary Shares

OBIO

HC Wainwright & Co. Reiterates Buy on Orchestra BioMed Hldgs, Maintains $14 Price Target

Coca-Cola European Partners plc Ordinary Shares

CCEP

Coca-cola Europacific Partners Says The Financial Conduct Authority Approved Its Transfer Of Listing Category From Equity Shares Category To Equity Shares (Commercial Companies) Category Of Official List

Michael Burry, the hedge fund manager renowned for predicting the 2008 financial crisis, has significantly increased his exposure to Chinese technology companies while simultaneously implementing protective measures against potential downside risks, <a href="https://www.benzinga.com/markets/asia/24/11/42000692/david-teppers-appaloosa-trims-alibaba-stake-by-476-in-q3-2024-doubles-down-on-pdd-holdings-and-jd.com">according to regulatory filings</a>.
What Happened: Burry&#8217;s Scion Asset Management made several notable adjustments to its portfolio during the third quarter, with Chinese companies now representing its largest positions. The firm increased its stake in Alibaba Group Holding Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) by 29%, making it the fund&#8217;s largest holding valued at over $21 million as of September&#8217;s end.
In a similar move, Scion doubled its position in JD.Com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>), elevating it to the fund&#8217;s second-largest holding at approximately $20 million. The firm also expanded its stake in Chinese search giant Baidu Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) by 67%, bringing the position to $13.2 million.
However, in what appears to be a cautionary strategy, Burry has simultaneously established put options against these same holdings. Put options typically increase in value when the underlying securities decline, suggesting a hedging strategy designed to protect against potential market volatility.
See Also: <a href="https://www.benzinga.com/news/global/24/11/41999238/ross-gerber-blasts-teslas-support-for-ending-ev-tax-credit-as-insanity-amid-reported-policy-shift-under-trump-administration">Long-Time Tesla Bull Rages As Elon Musk Reportedly Backs Trump&#8217;s Plan To Ax $7.5K EV Credit: &#8216;Insanity&#8217;</a>
The timing of these moves coincides with Beijing&#8217;s recent economic stimulus announcements aimed at reinvigorating growth in the world&#8217;s second-largest economy. While Chinese equities initially rallied in September following these signals, gains have moderated as investors await more concrete fiscal measures.
Beyond his Chinese technology focus, Burry has also increased positions in several U.S. companies, including Shift4 Payments Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FOUR#NYSE">FOUR</a>), American Coastal Insurance Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACIC#NASDAQ">ACIC</a>), and Molina Healthcare Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOH#NYSE">MOH</a>).
Why It Matters: Burry&#8217;s <a href="https://www.benzinga.com/markets/equities/24/10/41248334/big-short-investor-michael-burrys-china-bet-pays-off-as-top-picks-surge-nearly-60-in-2-months">top three Chinese holdings</a> have posted average gains of nearly 60% over a two-month period, according to market data.
Burry&#8217;s moves are being closely watched by market participants, particularly given his track record. He gained widespread recognition for his prescient bet against mortgage-backed securities before the 2008 global financial crisis, a story later chronicled in Michael Lewis&#8216;s bestseller &#8220;The Big Short&#8221; and its subsequent Oscar-winning film adaptation.
It&#8217;s worth noting that these positions reflect holdings as of Sep. 30, as required by SEC regulations for funds managing over $100 million in assets. Given the 45-day reporting delay and Burry&#8217;s active trading style, current positions may have already changed.
The development comes as other <a href="https://www.benzinga.com/markets/asia/24/11/42000692/david-teppers-appaloosa-trims-alibaba-stake-by-476-in-q3-2024-doubles-down-on-pdd-holdings-and-jd.com">prominent investors adjust their Chinese holdings</a>. Billionaire investor David Tepper&#8217;s Appaloosa Management recently reduced its Alibaba stake by 5%, though the position remains the fund&#8217;s largest holding at 15.75% of its $6.7 billion portfolio.
Read Next: 
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<li><a href="https://www.benzinga.com/content/41999311/jim-cramer-says-these-10-frothy-stocks-are-up-over-200-ytd-including-rocket-lab-palantir-and-carvana">Jim Cramer Says These 10 &#8216;Frothy&#8217; Stocks Are Up Over 200% YTD, Including Rocket Lab, Palantir, And Carvana</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

Global

ACIC

BABA

BIDU

FOUR

'Big Short' Investor Michael Burry Doubles Down On Chinese Tech Stocks While Adding Protective Hedges

NATL

NCR Atleos Inks Five-year Agreement To Provide Atleos' Cashzone Network ATMs In The John Lewis Partnership's Waitrose Supermarkets Across The UK

Earnings

RLX Technology Q3 Adj EPADS $0.03, Sales $107.77M Beat $105.08M Estimate

Benchmark analyst Cody Acree maintains Tower Semiconductor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSEM#NASDAQ">TSEM</a>) with a Buy and raises the price target from $55 to $60.

TSEM

Benchmark Maintains Buy on Tower Semiconductor, Raises Price Target to $60

Shares of Domino&#8217;s Pizza, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NYSE">DPZ</a>) rose sharply in today's pre-market trading after a 13F filing showed that Berkshire Hathaway <a href="https://www.benzinga.com/markets/equities/24/11/41993666/warren-buffetts-berkshire-hathaway-slashes-apple-bofa-holdings-adds-dominos-pizza-in-q3">added a new stake</a>.
Buffett bought 1,277,256 shares of Ann Arbor, Michigan-based pizza chain Domino's Pizza.
Domino&#8217;s Pizza shares jumped 7.8% to $470.00 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>The Arena Group Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AREN#NYSE">AREN</a>) gained 233.3% to $1.90 in pre-market trading after it announced its first ever profitable quarter.</li>
<li>Greenidge Generation Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GREE#NASDAQ">GREE</a>) rose 49.8% to $3.70 in pre-market trading. Greenidge said New York Supreme Court Judge rejected Department of Environmental Conservation&#8217;s action to deny its application for renewal of Title V Air Permit.</li>
<li>Innovation Beverage Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBG#NASDAQ">IBG</a>) gained 35.2% to $1.46 in pre-market trading after gaining 40% on Thursday.</li>
<li>Beneficient (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BENF#NASDAQ">BENF</a>) gained 29.6% to $1.62 in pre-market trading after the company reported a year-over-year increase in second-quarter revenue results.</li>
<li>Siyata Mobile Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYTA#NASDAQ">SYTA</a>) gained 26.6% to $1.62 in pre-market trading following third-quarter results.</li>
<li>TCTM Kids IT Education Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCTM#NASDAQ">TCTM</a>) gained 23.1% to $0.99 in pre-market trading after dipping 12% on Thursday.</li>
<li>Red Cat Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCAT#NASDAQ">RCAT</a>) climbed 19.4% to $4.80 in pre-market trading after jumping more than 5% on Thursday.</li>
<li>Despegar.com, Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DESP#NYSE">DESP</a>) gained 12.8% to $16.77 in pre-market trading after the company reported better-than-expected third-quarter financial results.</li>
<li>Jet.AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JTAI#NASDAQ">JTAI</a>) gained 9.8% to $6.37 in pre-market trading after dipping more than 28% on Thursday.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>TFF Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TFFP#NASDAQ">TFFP</a>) shares tumbled 69.7% to $0.4890 in pre-market trading after the company announced it will wind down its operations.</li>
<li>Quantum Computing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QUBT#NASDAQ">QUBT</a>) shares fell 25.5% to $3.28 in pre-market trading after the company reported a registered direct offering of $40 million priced at-the-market under Nasdaq rules.</li>
<li>Expion360 Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XPON#NASDAQ">XPON</a>) shares fell 22.3% to $2.68 in pre-market trading after the company reported a year-over-year decline in third-quarter revenue results.</li>
<li>Digital Brands Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DBGI#NASDAQ">DBGI</a>) declined 21.8% to $0.1060 in pre-market trading after the company reported worse-than-expected third-quarter EPS results and a year-over-year decline in revenue.</li>
<li>Tivic Health Systems Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TIVC#NASDAQ">TIVC</a>) dipped 15.9% to $0.31 in pre-market trading after the company reported a year-over-year decline in third-quarter sales results.</li>
<li>CERo Therapeutics Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CERO#NASDAQ">CERO</a>) shares dipped 14.7% to $0.16 in pre-market trading after falling around 12% on Thursday.</li>
<li>AST SpaceMobile, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) fell 13.8% to $23.10 in pre-market trading after the company reported worse-than-expected quarterly financial results.</li>
<li>Carmell Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTCX#NASDAQ">CTCX</a>) fell 13.1% to $0.24 in pre-market trading after posting third-quarter results.</li>
<li>Oklo Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKLO#NYSE">OKLO</a>) fell 7.8% to $22.00 in pre-market trading following third-quarter results.</li>
<li>Applied Materials, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>) fell 7.3% to $172.55 in today's pre-market trading following first-quarter results.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/41971544/jim-cramer-recommends-microsoft-praises-american-water-works-for-being-consistent">Jim Cramer Recommends Microsoft, Praises American Water Works For Being &#8216;Consistent&#8217;</a></li>
</ul>

Movers

AMAT

AREN

ASTS

BENF

CERO

CTCX

DBGI

DESP

GREE

JTAI

OKLO

QUBT

RCAT

SYTA

TCTM

TFFP

TIVC

XPON

Why Domino's Pizza Shares Are Trading Higher By Around 8%; Here Are 20 Stocks Moving Premarket

Needham analyst Quinn Bolton reiterates D-Wave Quantum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QBTS#NYSE">QBTS</a>) with a Buy and maintains $2.25 price target.

QBTS

Needham Reiterates Buy on D-Wave Quantum, Maintains $2.25 Price Target

Needham analyst Joseph Stringer reiterates Annexon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANNX#NASDAQ">ANNX</a>) with a Buy and maintains $16 price target.

ANNX

Needham Reiterates Buy on Annexon, Maintains $16 Price Target

Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Apple Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) key suppliers — Hon Hai Precision Industry Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HNHPF#OTC">HNHPF</a>), popularly known as Foxconn, Pegatron Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PGTRF#OTC">PGTRF</a>), and Quanta Computer (OTC:<a class="ticker" href="https://www.benzinga.com/stock/QUCCF#OTC">QUCCF</a>) — plan to quickly increase U.S. investments <a href="https://www.benzinga.com/markets/24/11/41869001/heres-how-trumps-policies-might-shape-the-markets-future">should trade policies shift</a> under Donald Trump&#8217;s second term.
What Happened: Foxconn chairman Young Liu announced on Thursday that the company is ready to expand its U.S. operations. The company is a leading contract electronics manufacturer and has substantial production bases in Texas, Wisconsin, and Ohio.
&#8220;We can very quickly adjust&nbsp;our investment if necessary,&#8221; Liu said at an investor&#8217;s conference, <a href="https://asia.nikkei.com/Spotlight/Supply-Chain/Nvidia-and-Apple-suppliers-ready-to-boost-U.S.-investments-under-Trump">reported</a> Nikkei Asia.
Pegatron, a key supplier to Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and Apple, is also prepared to respond swiftly to any policy changes.
&#8220;If necessary, we can quickly convert [our repair facility in Indiana] into production lines to accommodate policy changes [such as tariffs],&#8221; co-CEO Johnson Deng told investors, according to the report.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41927379/elon-musk-says-the-prophecy-has-been-fulfilled-peanut-the-squirrel-themed-meme-coin-spikes-11?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says The &#8216;Prophecy Has Been Fulfilled&#8217; — Peanut The Squirrel-Themed Meme Coin Spikes 11%</a>
Quanta Computer&#8217;s cloud-computing subsidiary, QCT, is ready to expand its manufacturing capacity in California if needed, said the company&#8217;s president, Mike Yang.
&#8220;We have continued to expand our capacity there in the past two years and have space to further expand anytime if needed. We also have a footprint in Thailand as well.&#8221;
Why It Matters: During his campaign, Trump underscored his &#8220;America First&#8221; agenda and warned of <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41953220/dollar-powers-to-4-month-highs-against-yen-trump-tariff-expectations-spark-carry-trade-frenzy">potential tariffs on various countries</a>, creating uncertainty for the tech supply chain.
Despite these political uncertainties, Foxconn and other leading tech suppliers continue to view artificial intelligence as the key growth driver for the industry through 2025, the report noted.
The stock market and cryptocurrency sector have seen <a href="https://www.benzinga.com/general/social-media/24/11/41912771/trump-presidency-magnificent-7-stock-impact-benzinga-readers-pick-tech-titan-at-most-risk-following-2024-election">significant growth since Trump&#8217;s victory</a>, with major U.S. stock indexes hitting record highs since Trump&#8217;s win against Vice President Kamala Harris.
Earlier this week, Yang Chin-long, the governor of Taiwan's central bank, <a href="https://www.benzinga.com/news/global/24/11/41972365/tsmcs-65b-investment-in-us-will-help-avoid-trade-imbalance-says-taiwan-central-bank-governor-as-trump-returns-to-white-house">voiced optimism about</a> Taiwan Semiconductor Manufacturing Co.'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) upcoming $65 billion investment in U.S. factories.
&#8220;Chips and information and telecommunications products are what the U.S. needs most. I don't think the United States would penalize Taiwan,&#8221; he said during a legislative session on Thursday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41931993/dogecoin-tumbles-despite-elon-musk-vivek-ramaswamys-doge-appointment-this-is-what-indicators-tell-about-its-next-moves?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Tumbles Despite Elon Musk, Vivek Ramaswamy&#8217;s &#8216;DOGE&#8217; Appointment: This Is What Indicators Tell About Its Next Moves</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Tech

Media

AAPL

HNHPF

MSFT

NVDA

PGTRF

QUCCF

TSLA

Nvidia, Apple Suppliers Brace For Trump's Return: Foxconn, Pegatron, Quanta Prepare For Rapid US Investment Boom

Chinese retail sales grew by 4.8% year-on-year in October picking up from September&#8217;s 3.2% growth, as per the National Bureau of Statistics on Friday. That annual retail sales forecast exceeded the 3.8% growth precited by a Reuters poll.
What Happened: The robust growth in Chinese retail sales in October was fueled by the monetary stimulus measures that the People's Bank of China unveiled in the latter half of September as a last-ditch effort to revive the country's struggling economy.
The share price of the top three Chinese e-commerce players, Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), PDD Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) and JD.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) were in red in Hong Kong on Friday.
Meanwhile, Alibaba Group Holding&#8216;s American Depository Receipts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) have plunged by 11.90% over the last month, according to <a href="http://pro.benzinga.com">Benzinga Pro data</a>. PDD Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) and JD.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) ADRs have declined by 13.10% and 18.93%, respectively. The shares have underperformed their index, as the NYSE Composite rose by 0.28%, while the Nasdaq Composite advanced by 4.32% in the same period.
Also read: <a href="https://www.benzinga.com/general/market-summary/24/11/41968003/gold-drops-to-a-two-month-low-as-investors-turn-to-bitcoin-after-trumps-victory-but-this-economist-remains-confident-that-gold-will-surge">Gold Drops To A Two-Month Low As Investors Turn To Bitcoin After Trump&#8217;s Victory, But This Economist Remains Confident That &#8216;Gold Will Surge&#8217;</a>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="252" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/15032756/chinese-stocks-1-month-1024x252.png" alt="" class="wp-image-649725" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/15032756/chinese-stocks-1-month-1024x252.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/15032756/chinese-stocks-1-month-300x74.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/15032756/chinese-stocks-1-month-768x189.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/15032756/chinese-stocks-1-month-1536x377.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/15032756/chinese-stocks-1-month.png 1738w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Why It Matters: The <a href="https://www.benzinga.com/government/regulations/24/11/41843262/chinas-stimulus-plan-not-enough-to-ignite-stocks#:~:text=The%20new%20stimulus%20plan%2C%20confirmed,to%20local%20authorities%2C%20CNBC%20reports.&amp;text=Additionally%2C%20central%20authorities%20will%20issue,over%20the%20next%20five%20years.">Chinese stimulus is aimed at stimulating</a> spending and investment in an economy that's been suffering from weak demand and a cooling property market. The measures also include a stimulus package of around 1 trillion yuan, or more than $140 billion, in liquidity.
Read next: <a href="https://www.benzinga.com/news/earnings/earnings-beats/24/11/41964200/apples-key-supplier-foxconns-gross-profit-hit-7-year-high-in-q3-aims-to-expand-ai-capabilities-by-next-year">Apple&#8217;s Key Supplier Foxconn&#8217;s Gross Profit Hit 7 Year High In Q3, Aims To Expand AI Capabilities By Next Year</a>
Image via Shutterstock

Citigourp Global Markets 2% Protected Notes Linked To The Djia

Chinese Retail Sales Pickup In October: Here's What's Happening With Alibaba, JD And Pinduoduo Shares

Piper Sandler analyst Arvind Ramnani reiterates Mastercard (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>) with a Overweight and raises the price target from $565 to $575.

Piper Sandler Reiterates Overweight on Mastercard, Raises Price Target to $575

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is offering three months of free full self-driving (FSD) subscription and supercharging for customers who take delivery of a new inventory vehicle till the end of the year in North America in a bid to increase annual deliveries.
What Happened: Customers who take delivery of new inventory vehicles between Nov. 14 and Dec. 31 are eligible for the offer. The offer extends to Tesla&#8217;s entire lineup, including its latest offering- the Cybertruck.
Tesla recently added the Cybertruck to its inventory. Until then, potential customers had to customize their vehicles and await delivery instead of picking one from inventory. 
The offer comes amidst Tesla&#8217;s efforts to boost its fourth-quarter delivery numbers. The company is also offering discounts on <a href="https://www.benzinga.com/news/24/10/41443856/tesla-offers-discounts-of-up-to-4k-on-select-model-3-y-vehicles-as-it-looks-to-avert-1st-ever-declin">some inventory vehicles in the U.S. </a>and offers in other offers in geographies <a href="https://www.benzinga.com/tech/24/11/41892379/tesla-offers-a-year-of-supercharging-for-free-in-europe-as-it-chases-record-q4-deliveries-to-outpace-a-slowdown">including Europe.</a> 
Why It Matters:&nbsp;For the full year 2023, Tesla delivered 1,808,581 vehicles around the globe. To mark a growth over last year, the company has to deliver at least 514,926 vehicles in the three months through the end of December. Tesla has never managed to deliver over 500,000 EVs in a quarter to date, making this an <a href="https://www.benzinga.com/tech/24/11/41894615/tesla-q4-deliveries-expected-to-set-new-records-but-not-enough-to-avoid-yearly-sales-decline-says-researcher">ambitious target.</a>
In the third quarter, Tesla reported deliveries of 462,890 vehicles, up 6.4% year-over-year and up 4.3% quarter-over-quarter.
Deliveries fell 8.5% year-on-year in the first quarter and by 4.8% in the second quarter.
Price Action: Tesla shares declined 5.8% on Thursday to $311.18, and were down by 1.9% in premarket trading on Friday. Year-to-date, the Tesla stock has risen by 25.3%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
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Photo courtesy: Tesla

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<h3>Companies Reporting Before The Bell</h3>
• Sigma Lithium (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGML#NASDAQ">SGML</a>) is projected to report quarterly earnings at $0.09 per share on revenue of $72.08 million. 
• Trinity Biotech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRIB#NASDAQ">TRIB</a>) is projected to report quarterly loss at $0.54 per share on revenue of $16.50 million. 
• Digihost Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DGHI#NASDAQ">DGHI</a>) is projected to report quarterly loss at $0.13 per share on revenue of $9.90 million. 
• Aegon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEG#NYSE">AEG</a>) is projected to report earnings for its third quarter. 
• Bio-Path Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPTH#NASDAQ">BPTH</a>) is expected to report earnings for its third quarter. 
• WiSA Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WISA#NASDAQ">WISA</a>) is likely to report quarterly loss at $0.68 per share on revenue of $1.00 million. 
• AIM ImmunoTech (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/AIM#AMEX">AIM</a>) is likely to report quarterly loss at $0.10 per share on revenue of $20 thousand. 
• Nexxen International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEXN#NASDAQ">NEXN</a>) is likely to report quarterly earnings at $0.10 per share on revenue of $87.84 million. 
• RLX Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RLX#NYSE">RLX</a>) is expected to report quarterly earnings at $0.03 per share on revenue of $105.08 million. 
• Alibaba Gr Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) is projected to report quarterly earnings at $2.10 per share on revenue of $33.95 billion. 
• Spectrum Brands Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPB#NYSE">SPB</a>) is estimated to report quarterly earnings at $1.02 per share on revenue of $746.54 million. 
<h3>Companies Reporting After The Bell</h3>
• Neurogene (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NGNE#NASDAQ">NGNE</a>) is likely to report earnings for its third quarter. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Earnings Scheduled For November 15, 2024

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Dropbox, Inc. 2024 Q3 - Results - Earnings Call Presentation

Dropbox, Inc. (DBX) Q3 2024 Earnings Call Transcript

In a report released today, Rishi Jaluria from RBC Capital maintained a Buy rating on Dropbox (DBX – Research Report), with a price target of $32.0...

Dropbox (DBX) Receives a Buy from RBC Capital

JFrog slips as earnings season hops along while pair of semis rebound

As Q4 nears, undervalued tech stocks offer growth potential, especially in sectors like AI. Therefore, you might want to tap into this opportunity to invest in undervalued tech stocks like TD SYNNEX Corp (SNX), Jabil (JBL), and Dropbox (DBX) for long-term gains. Read on… As the tech sector heads into Q4 with factors like recent market corrections, profit-taking after a volatile year, and stronger-than-expected earnings in sub sectors like cloud computing and semiconductors, the companies are showing signs of potential rebound.
Amid this backdrop, investors looking for an opportunity to invest might consider adding strong fundamental tech stocks, TD SYNNEX Corporation (<a href="https://stocknews.com/stock/SNX/">SNX</a>), Jabil Inc. (<a href="https://stocknews.com/stock/JBL/">JBL</a>), and Dropbox, Inc. (<a href="https://stocknews.com/stock/DBX/">DBX</a>), as they are trading at discounts.
With market sentiment starting to improve and economic data stabilizing, there has been a bull market momentum for tech stocks. Out of eleven S&amp;P 500 sectors, the information technology sector is ranked ninth, where it is the largest sector, comprising <a href="https://www.usbank.com/investing/financial-perspectives/market-news/investing-in-tech-stocks.html">nearly 32% of the index's value</a>.
As companies lean more into digital transformation, tech stocks in software, hardware, and cloud sectors are anticipated to benefit from increasing demand. For the tech sector specifically, analysts are optimistic about a potential return to modest growth in 2024, <a href="https://www2.deloitte.com/us/en/pages/technology-media-and-telecommunications/articles/technology-industry-outlook.html">with more robust prospects for 2025</a>. As per the Deloitte report, economists project that AI-related investments <a href="https://www2.deloitte.com/content/dam/Deloitte/us/Documents/technology-media-telecommunications/2024-tmt-outlook-technology.pdf">will reach $200 billion</a> globally by 2025.
According to <a href="https://www.statista.com/outlook/tmo/it-services/worldwide">Statista</a>, the global IT services market is anticipated to reach $1.88 trillion by 2029, growing at a CAGR of 5.8%. Moreover, analysts expect growth-oriented stocks to recover, especially those with proven innovation and robust cash flows, setting the stage for undervalued tech stocks to gain renewed interest.
Considering these conducive trends, let's assess the fundamentals of the three abovementioned <a href="https://stocknews.com/category/technology-services/">Technology - Services</a> stocks, starting with the third choice.
Stock #3: TD SYNNEX Corporation (<a href="https://stocknews.com/stock/SNX/">SNX</a>)
SNX operates as a global distributor and solutions aggregator for the IT ecosystem. It has two primary solution portfolios: Endpoint Solutions and Advanced Solutions. The company provides personal computing devices, endpoint technology software, and a range of data center technologies, including hybrid cloud, security, storage, networking, servers, and computing components.
On October 15, SNX's subsidiary, Hyve Solutions Corporation, announced the launch of its Orion product line featuring the NVIDIA HGX platform. These solutions are optimized for the NVIDIA Hopper platform and are fully compatible with the NVIDIA Blackwell platform, ensuring customers address both present and emerging AI computational needs. The new launch offers a seamless solution to the customers.
On October 10, SNX launched its Destination AI Practice Accelerator to fast-track AI go-to-market efforts and monetization for partners. This launch enables partners to identify AI opportunities for their end customers and build an AI practice to meet those needs with a customized strategy and support.
In terms of forward non-GAAP <a href="https://www.investopedia.com/terms/p/price-earningsratio.asp">P/E</a>, SNX is trading at 9.86x, 58.9% lower than the industry average of 24.00x. Likewise, the stock's forward EV/Sales and Price/Sales multiples of 0.22 and 0.17 are 92.4% and 94.2% lower than their respective industry averages of 2.95 and 2.93.
In the fiscal third quarter that ended on August 31, 2024, SNX's revenue increased 5.2% year-over-year to $14.68 billion. The company reported an operating income[AD1]  of $302.88 million, indicating a 26.1% growth from the prior-year quarter.
SNX's net income came in at $178.56 million, up 28.2% year-over-year, while its non-GAAP earnings per share grew 2.9% from the year-ago value to $2.86.
Analysts expect SNX's revenue for the fiscal year (ending November 2024) to increase marginally year-over-year to $57.90 billion, while its EPS for the same period is expected to grow 3.53%from the prior year's period to $11.66.
The stock has gained 24.2% over the past year and 14.4% over the past nine months to close the last trading session at $115.50.
SNX's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this robust outlook. The stock has an overall rating of B, which equates to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
SNX has a B grade for Value and Sentiment. It is ranked #18 out of 77 stocks in the <a href="https://stocknews.com/category/technology-services/">Technology - Services</a> industry. <a href="https://stocknews.com/stock/SNX/">Click here</a> to see the additional ratings for SNX (Growth, Momentum, Stability, and Quality).
Stock #2: Jabil Inc. (<a href="https://stocknews.com/stock/JBL/">JBL</a>)
JBL is a worldwide provider of manufacturing services and solutions. It operates in two segments: Electronics Manufacturing Services and Diversified Manufacturing Services. The company specializes in electronics design, production, product management, circuit design, firmware development, prototyping, and the design of plastic and metal enclosures with integrated electro-mechanical components like PCBA.
On October 14, JBL introduced an expansion of its server portfolio with the J421E-S and J422-S servers, powered by AMD 5th Generation EPYC and Intel Xeon 6 processors. This addition is efficient, high in performance, and optimized for AI, FinTech, and cloud applications.
On October 3, JBL completed its acquisition of Mikros Technologies LLC, a leader in the engineering and manufacturing of liquid cooling solutions for thermal management. This acquisition will allow JBL to extend its range of services and will also help its customers manage the intense thermal requirements of their current and next-generation products.
In terms of forward non-GAAP P/E, JBL is trading at 15.07x, 37.2% lower than the industry average of 24.00x. Likewise, the stock's forward EV/Sales and Price/Cash Flow multiples of 0.58 and 0.53 are 80.2% and 81.8% lower than the industry averages of 2.95x and 2.93x, respectively.
JBL's net revenue for the fiscal 2024, which ended on August 31, stood at $28.88 billion. Its operating income grew 31% from the prior year's period to $2.01 billion.
The company's net income attributable rose 69.7% from the year-ago value to $1.39 billion, while its EPS stood at $11.17, up 85.5% year-over-year. In addition, JBL's adjusted free cash flow rose 2.8% from the year-ago value to $1.06 million.
Street expects SNX's revenue for the fiscal third quarter (ending May 2025) to increase marginally year-over-year to $6.81 billion. Its EPS for the same period is expected to register a 20.1% growth from the prior year, settling at $2.27. In addition, it surpassed the EPS in three of the trailing four quarters, which is promising.
JBL shares have surged 17.1% over the past three months and 11.6% over the past six months to close the last trading session at $127.67.
It's no surprise that JBL has an overall rating of B, equating to a Buy in our POWR Ratings system. It has an A grade for Momentum and a B for Growth, Value, and Quality. Out of 77 stocks in the same industry, JBL is ranked #8.
Beyond what is stated above, we've also rated JBL for Stability and Sentiment. Get all JBL's ratings <a href="https://stocknews.com/stock/JBL/">here</a>.
Stock #1: Dropbox, Inc. (<a href="https://stocknews.com/stock/DBX/">DBX</a>)
DBX provides tools to help distributed teams prioritize, get organized, and keep work moving securely from anywhere. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app and upgrade to a paid subscription plan for premium features.
On October 15, DBX announced Dropbox Dash for Business, an AI-powered universal search product. This launch makes it easy for teams to find, organize, share, and secure company information, which helps save time and cost.
In terms of forward non-GAAP P/E, DBX is trading at 11.60x, which is 51.7% lower than the industry average of 24.00x. The stock's forward Price/Cash Flow ratio of 8.88x is 58.5% below the industry average of 21.38x. Also, its forward EV/EBITDA multiple of 9.31 compares to the industry average of 14.51x.
For the second quarter of 2024, which ended on June 30, DBX's total revenues increased marginally year-over-year to $634.50 million. Its non-GAAP income from operations stood at $227.90 million, indicating a 6.9% growth from the prior-year quarter, with a non-GAAP operating margin of 35.9% (up 170 bps year-over-year).
DBX's non-GAAP net income amounted to $194.10 million and $0.60 per share, reflecting 11.6% and 17.6% year-over-year increases, respectively. Also, the company's non-GAAP free cash flow grew by 21.7% from the year-ago value to $224.7 million.
The consensus revenue estimate of $642.81 million for the fiscal fourth quarter (ending December 2024) represents a marginal increase year-over-year. The consensus EPS estimate of $0.53 for the same quarter indicates a 5.1% improvement year-over-year. The company has an impressive surprise history; it surpassed the consensus revenue and EPS estimates in each of the trailing four quarters.
Over the past three months, the stock has gained 11.9%, closing the last trading session at $25.98.
DBX's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
It also has an A grade of Quality and a B for Value. Within the Technology - Services industry, it is ranked #6. <a href="https://stocknews.com/stock/DBX/">Click here</a> to see DBX's ratings for Growth, Momentum, Stability, and Sentiment.
What To Do Next?
Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
<a href="https://report.stocknews.com/free-report/10-stocks-to-sell/?formplacement=artbotad_10sell">10 Stocks to SELL NOW! &gt;</a>

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JBL shares were trading at $128.32 per share on Monday afternoon, up $0.65 (+0.51%). Year-to-date, JBL has gained 0.93%, versus a 21.27% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: ShreyaRathi</h2> <img src='https:/wp-content/uploads/2024/10/0.jpeg' style="float:left; padding:5px;width:125px;"><a href="https://stocknews.com/authors/?author=shreya-rathi">More...</a>The post <a href=https://stocknews.com/news/jbl-snx-dbx-3-undervalued-tech-stocks-to-buy-before-q4-rallies/>3 Undervalued Tech Stocks to Buy Before Q4 Rallies</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Undervalued Tech Stocks to Buy Before Q4 Rallies

In a report released today, Patrick Walravens from JMP Securities maintained a Hold rating on Dropbox (DBX – Research Report). The company's shares...

Dropbox (DBX) Receives a Hold from JMP Securities

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