First Trust US Equity Opportunities ETF (ARCA: FPX)

Últimas noticias sobre First Trust US Equity Opportunities ETF (ARCA:FPX)

First Trust US Equity Opportunities ETF

First Trust IPOX-100 Index Fund

Technology

Energy

Communication Services

Financial Services

Industrials

Healthcare

Other

Consumer Cyclical

Consumer Defensive

Real Estate

Utilities

Basic Materials

The Fund will normally invest at least 90% of its net assets (including investment borrowings) in the securities that comprise the Index. The Fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the Index. The Index is developed, maintained and sponsored by IPOX Schuster LLC (the Index Provider). Solactive serves as the index calculation agent. It is the sole responsibility of the Index Provider to decide on all matters relating to the Index methodology and Index constituent selection. The Index Provider may make exceptions to the Index methodology regarding constituent inclusion, exclusion and weighting. The Index seeks to measure the performance of equity securities of the 100 typically largest and most liquid initial public offerings (IPOs) (including spin-offs and equity carve-outs) of U.S. companies. An IPO is a public offering in which the shares of stock in a company are sold to the general public for the first time on an exchange. The Index measures the performance of a companys equity securities for the 1,000 trading days following its IPO. According to the Index Provider, a company is eligible for inclusion in the Index on the close of the 6th trading day following its IPO and is eligible to remain in the Index until the close of the 1,000th trading day. The IPOX Global Composite Index (the Base Index) serves as the initial universe for the Index. The Base Index is a market capitalization-weighted index which seeks to provide exposure to the aftermarket performance of the U.S. IPO market. Securities must meet the size and float standards of the Index. Additionally, companies that experience abnormally large underpricing in their IPO are not eligible for inclusion in the Base Index. According to the Index Provider, the Index is selected by first excluding all securities comprising the Base Index that are issued by non-U.S. companies. The remaining securities are then ranked according to market capitalization. The 100 securities with the largest market capitalizations are included in the Index. While the Index is market-capitalization weighted, individual securities are capped at a weight of 10%. The Index may contain the securities of small, mid and large capitalization companies.

Regeneron Parmaceuticals Inc.

Carrier Global Corp

Airbnb Inc

Samsara Inc, Class A

Otis Worldwide Corporation

Doordash Inc - Class A Lockup Shares

Palantir Technologies Inc.

Constellation Energy Corp

DraftKings Inc

Kenvue Inc

AppLovin Corp. Com Cl A

Ge Vernova Inc

Crowdstrike Holdings, Inc. (Class A)

Roblox Corp., Class A

Fidelity National Financial Inc.

Duolingo Inc

Sector ETFs

IPOs

ETFs

IPOS

El resurgimiento de OPI, impulsado por políticas y un entorno empresarial sólido, presenta oportunidades en ETF como FPX, IPO e IPOS.

El resurgimiento de las OPI en 2025: ETF clave para aprovechar el momento

First Trust IPOX Europe Equity Opportunities ETF

First Trust International Equity Opportunities ETF

FPX Nickel Corp

If you&#8217;re an ETF investor who&#8217;s been along for the Palantir Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) hype ride, Tuesday was likely a derailment. 
Even after a <a href="https://www.benzinga.com/news/earnings/25/05/45208000/palantir-q1-earnings-revenue-beat-eps-in-line-customer-count-up-39-company-raises-guidance-citing-surging-and-ferocious-growth">blowout first quarter earnings report</a> and a sparkling forecast, the stock plummeted more than 14% after hours and almost 12% on Tuesday morning, taking a few <a href="https://www.benzinga.com/etfs">PLTR-heavy ETFs</a> down with it.
The culprit? A valuation that may be pushing even the most elastic of market imaginations.
<h1 class="wp-block-heading">ETF Fallout: When One Stock Sneezes</h1>
Three ETFs with significant Palantir exposure found themselves nursing bruises after Tuesday&#8217;s swoon:
Roundhill PLTR WeeklyPay ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/PLTW#BATS">PLTW</a>): Meant to surf Palantir&#8217;s waves, this thematic ETF dropped a painful 18% on Tuesday. 
First Trust US Equity Opportunities ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPX#NYSE">FPX</a>): Down close to 3%, this ETF took the jolt, too. With Palantir as its top holding with a 10% weightage, even the wider growth exposure couldn&#8217;t soften the blow.
Global X Defense Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHLD#NYSE">SHLD</a>): Also off about 2.1%, even with Palantir included in a strong slate of defense tech plays. The ETF thesis is still intact — defense budgets are rising globally — but valuation concerns outweighed tailwinds, at least for the day.
Tejas Dessai, head of research at Global X ETFs, is bullish on the theme overall, saying that we are &#8220;in the early innings of a generational investment cycle in global defense.&#8221; 
With the U.S. committing $1 trillion annually to defense and geopolitical tensions not so much looking like fireworks, but rather like bonfires, the industry&#8217;s runway appears lengthy, he noted. Palantir is positioned alone in this environment. From battlefield logistics powered by AI to intelligence analysis, it&#8217;s at the nexus of Silicon Valley ingenuity and Pentagon-sized paychecks. That&#8217;s precisely the reason SHLD and its owners are hanging on, even though the ride&#8217;s got turbulence.
<h1 class="wp-block-heading">The Paradox of Powerhouse Performance and Price Panic</h1>
Let&#8217;s get the scorecard straight: Palantir&#8217;s first quarter revenue of $883.86 million beat expectations, rising 39% year-over-year. U.S. commercial revenue surged 71%, customer base grew and the company now projects full-year revenues of as much as $3.90 billion — all while having $5.4 billion in the bank. Not bad for the alleged &#8220;Messi of AI,&#8221; as Wedbush&#8217;s Dan Ives called it.
Also Read: <a href="https://www.benzinga.com/25/05/45213810/palantir-stock-drops-925-after-earnings-beat-dan-ives-stays-bullish-but-jefferies-brent-thill-says-institutions-still-arent-interested">Palantir Is A &#8216;Retail-Driven Story,&#8217; Says Top Analyst As PLTR Stock Falls 9% In After-Hours: &#8216;Not A Single Institutional Investor&#8230;Talks About This&#8217;</a>
But the market wasn&#8217;t having it. Why? Perhaps because the stock is listed at a P/E (TTM) ratio above 560x — a figure that would make even the most optimistic tech bulls wince.
Even with Palantir&#8217;s assurances of positive GAAP operating income each quarter this year, worries that a lot of future growth is already priced in are casting long shadows. As Jefferies&#8217; Brent Thill said, solid fundamentals are one thing, but a <a href="https://www.benzinga.com/markets/equities/25/05/45216263/pltr-stock-falls-9-19-in-premarket-trading-but-this-analyst-remains-bullish-predicts-1-trillion-valuation-in-3-years">65x multiple to revenue is another creature altogether</a>.
<h1 class="wp-block-heading">Valuation Sky High, but Sector&#8217;s Not Coming Down</h1>
Palantir&#8217;s fundamentals are good, its prospects are bright, and its contribution to AI and defense cannot be replicated — but the price is where the market throws up its hands. ETFs such as PLTW, FPX and SHLD, with their various degrees of Palantir exposure, provide a means to bet on the tale — just don&#8217;t anticipate them being resistant to sentiment shocks.
Read Next: 
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<li><a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/05/45211160/voo-vs-spy-21-billion-april-surge-puts-voo-ahead-in-the-sp-500-etf-showdown">VOO Vs SPY: $21 Billion April Surge Puts VOO Ahead In The S&amp;P 500 ETF Showdown</a></li>
</ul>
Photo: Shutterstock

Specialty ETFs

Movers

Trading Ideas

PLTR

Roundhill ETF Trust Roundhill PLTR WeeklyPay ETF

PLTW

SHLD

PLTR-Focused ETFs Down: What's Really Behind Palantir's Plunge? The Numbers Don't Tell The Full Story

GE Vernova Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>) announced on Wednesday its plan to supply seven high-efficiency 7HA.02 gas turbines capable of running on hydrogen,<a target="_blank" href="https://www.benzinga.com/pressreleases/25/04/b44603352/homer-city-redevelopment-and-kiewit-announce-countrys-largest-natural-gas-powered-data-center-camp" rel="noreferrer noopener"> with initial deliveries set for 2026</a>.
The news is related to the announcement by Homer City Redevelopment (HCR) and Kiewit Power Constructors Co. (Kiewit), which have unveiled plans to repurpose the former Homer City Generating Station.
Once Pennsylvania&#8217;s largest coal-fired power plant, the site will be converted into a 3,200-acre natural gas-powered data center campus.
The project will utilize existing infrastructure from the former Homer City plant, including transmission lines linked to the PJM and NYISO grids, substations, and water access.
This transformation aims to support the increasing demand for artificial intelligence and high-performance computing from leading technology companies driving America&#8217;s digital future.
The Homer City Energy Campus is expected to provide up to 4.5 GW of power for AI-driven data centers, cutting emissions by 60–65% per megawatt-hour.
The project will create over 10,000 construction jobs and 1,000 permanent positions, with an initial $10 billion investment—the largest of its kind in Pennsylvania&#8217;s history.
The construction is slated to begin this year, with power generation expected by 2027.
Scott Strazik, CEO of GE Vernova said, &#8220;We are honored to provide our U.S. manufactured, highly efficient and advanced HA gas turbine technology and combined cycle equipment for the Homer City Energy Campus.&#8221;
&#8220;This project demonstrates the best in what investing in power can do; more affordable and reliable energy for everyone, revitalizing local economic development benefits with thousands of skilled jobs and enabling Pennsylvania to help lead the future of AI.&#8221;
William Wexler, President and CEO of HCR, said, &#8220;This project will honor Homer City&#8217;s place in the proud history of Pennsylvania energy generation, while accelerating the state and local community&#8217;s ability to meet the needs of a rapidly shifting energy landscape.&#8221;
Investors can gain exposure to the stock via&nbsp;Invesco S&amp;P Spin-Off ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CSD#NYSE">CSD</a>) and&nbsp;First Trust US Equity Opportunities ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPX#NYSE">FPX</a>).
Price Action: GEV shares are down 5.5% at $312.95 at the last check Thursday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/03/44284589/jpm-analyst-favorable-outlook-for-clean-energy-with-nextracker-ge-vernova-leading-the-pack" target="_blank" rel="noreferrer noopener">Clean Energy Stocks Face Policy Risks, But JP Morgan Sees Long-Term Upside In These Names</a></li>
</ul>
Photo via Shutterstock.

Equities

Large Cap

News

GE Vernova's Gas Turbines Fuel Data Center Project In Pennsylvania: Details

Carrier Global Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>) shares are trading relatively flat on Thursday.
On Wednesday, Carrier announced the launch of its first Environmental Product Declaration for residential HVAC solutions in North America.
This milestone underscores the company's commitment to sustainability and transparency in environmental performance.
The EPD, based on rigorous life cycle assessment methodology, provides a detailed overview of the environmental impacts linked to the production, use, and disposal of Carrier's Comfort Fan Coil and Performance Variable-Speed Compact Heat Pump.
The declaration includes key metrics such as carbon dioxide emissions, energy consumption, and natural resource usage, offering critical insights into the environmental footprint of residential HVAC products.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/25/03/44293798/elon-musk-expects-tesla-output-to-double-over-next-couple-of-years-but-gene-munster-predicts-number-to-drop-before-a-surge-in-2026" rel="noreferrer noopener">Elon Musk Expects Tesla Output To Double Over Next Couple Of Years, But Gene Munster Predicts Number To Drop Before A Surge In 2026</a>
Hakan Yilmaz, SVP and Chief Technology &amp; Sustainability Officer at Carrier, emphasized that publishing the first residential EPD in North America represents a significant step forward in the company's sustainability journey.
&#8220;Transparency is key to empowering homeowners, contractors, and building professionals to make informed choices about the products they install," Yilmaz stated.
The EPD adheres to international standards, including ISO 14025, ensuring the credibility and reliability of the data.
This initiative is part of Carrier's broader strategy to invest $4 billion in intelligent climate and energy solutions, aiming to reduce environmental impacts and avoid over one gigaton of greenhouse gas emissions by 2030.
By providing detailed environmental data, Carrier empowers customers to make informed, environmentally-conscious choices in the HVAC market.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, CARR stock has gained over 13% in the past year. Investors can gain exposure to the stock via&nbsp;First Trust US Equity Opportunities ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPX#NYSE">FPX</a>).
Price Action: CARR shares are trading higher by 0.31% to $65.63&nbsp;at last check Thursday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/03/44267822/palantir-executive-pushes-pentagon-to-adopt-software-first-approach-noting-us-allocates-less-than-1-of-defense-budget-to-modern-battlefield" target="_blank" rel="noreferrer noopener">Palantir Calls For ‘Software-First Approach' As Pentagon Spends Under 1% On Modern Warfare</a></li>
</ul>

Markets

General

CARR

Carrier Global Debuts Environmental Product Declaration For Residential HVAC Systems: Details

Market volatility has intensified investors&#8217; focus on risk-adjusted strategies, with ETFs emerging as a key way to <a href="https://www.benzinga.com/etfs">gain exposure to high-growth stocks</a> without the &#8220;single-stock risk&#8221; string attached. 
Amid the back-to-back market developments, Palantir Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) is making waves with <a href="https://www.benzinga.com/news/earnings/25/02/43449486/palantir-q4-earnings-revenue-beat-eps-beat-us-revenue-up-52-customer-count-up-43-strong-guidance-this-is-a-new-phase-unlike-anything-that-has-come-before">strong Q4 results</a> where it crushed analyst expectations.
For investors seeking exposure to Palantir without direct stock ownership, these are four ETFs to keep an eye on:
Also Read: <a href="https://www.benzinga.com/analyst-ratings/price-target/25/02/43463909/palantir-stock-is-surging-tuesday-whats-going-on">Palantir Stock Is Surging Tuesday: What&#8217;s Going On?</a>
<ul>
<li>REX AI Equity Premium Income ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIPI#NASDAQ">AIPI</a>): In this ETF, Palantir holds the biggest piece of the pie, with 10.77% claim on the total assets. Expense ratio is 0.65%. The ETF inched up 0.4% on Feb. 4, 12.27 p.m. ET.</li>
</ul>
<ul>
<li>ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>): Palantir consistently ranks among ARKK's top 10 holdings, reflecting Cathie Wood's strong conviction in its AI and data-driven capabilities. As of today, Palantir accounts for approximately 5.43% of ARKK's portfolio. The expense ratio is 0.75%. The ETF is currently trading relatively flat.</li>
</ul>
<ul>
<li>Global X Funds Global X Defense Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHLD#NYSE">SHLD</a>): The ETF, with an expense ratio of 0.5%, reserves about 10% of its assets for Palantir. The ETF has returned 35% in the past year. The ETF rose 2.27% as of writing on Feb. 4.</li>
</ul>
<ul>
<li>First Trust US Equity Opportunities ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPX#NYSE">FPX</a>): Though this fund tracks newly public companies, Palantir has remained a top component despite trading on the market since 2020. Palantir, with its 1000+% growth since its IPO, is a success story on its own, and this ETF capitalizes on that. FPX has around 7.05% allocation to the company stock, appealing to investors targeting high-growth IPOs. The expense ratio is 0.59%. The ETF climbed 1.05% as of writing on Feb. 4.</li>
</ul>
These ETFs allow investors to benefit from Palantir's growth graph while spreading risk across multiple high-tech stocks.
<h3 class="wp-block-heading">Why Palantir Is A Stock To Watch</h3>
Palantir soared after issuing a 2025 revenue forecast of $3.75 billion, surpassing analysts' expectations of $3.54 billion. CEO Alex Karp attributed the bullish outlook to &#8220;untamed organic growth&#8221; in AI demand. The company also projected $1.56 billion in adjusted operating income, beating estimates of $1.37 billion.
In Q4 2024, revenue jumped 36% to $827.5 million, exceeding forecasts of $775.9 million, while profit (excluding certain items) hit 14 cents per share, topping estimates of 11 cents.
Fueled by AI momentum, Palantir's stock surged 340% in 2024. After markets opened Tuesday, shares spiked 27% to a record $106.76, marking their biggest intraday gain in a year, according to Bloomberg.
Read Next: 
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<li><a href="https://www.benzinga.com/etfs/25/02/43468406/treasury-etfs-in-focus-as-trumps-tariffs-feds-rate-decision-shake-bond-markets">Treasury ETFs In Focus As Trump&#8217;s Tariffs, Fed&#8217;s Rate Decision Shake Bond Markets</a></li>
</ul>
Photo: Shutterstock

Broad U.S. Equity ETFs

AIPI

ARKK

Palantir Focused ETFs Spark Investor Interest: Here's Why

The year 2025 is shaping up to be <a href="https://www.benzinga.com/topic/ipo">positive for IPOs</a>, with market experts and investors predicting a revival of capital market activity. 
A flurry of factors, including policy changes under the Trump administration, monetary easing and a favorable business environment, is expected to stimulate this resurgence. For investors, this creates a good opportunity to consider ETFs that focus on IPOs and newly public companies.
Here's a <a href="https://www.benzinga.com/etfs">look at some key ETFs</a>.
<h1 class="wp-block-heading">First Trust U.S. Equity Opportunities ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPX#NYSE">FPX</a>)</h1>
This ETF tracks the IPOX-100 U.S. Index, which includes a basket of 100 securities, has an asset base of $795.4 million and an annual expense ratio of 0.59%. Its one-year return stands at an impressive 25%. 
This ETF is a solid choice for investors seeking broad exposure to U.S. IPOs.
<h1 class="wp-block-heading">Renaissance IPO ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IPO#NYSE">IPO</a>)</h1>
Focusing on the Renaissance IPO Index, this ETF includes 26 securities and offers targeted exposure to U.S. IPOs. The fund has an asset base of $153.7 million and an expense ratio of 0.60%. The ETF has returned 15.8% over the past year. 
<h1 class="wp-block-heading">Renaissance International IPO ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IPOS#NYSE">IPOS</a>)</h1>
Another international option, this ETF tracks the Renaissance International IPO Index, comprising 35 securities. With a smaller asset base of $4.4 million and an annual fee of 0.80%, this ETF is ideal for niche investors. 
It has faced recent headwinds, losing 6.65% over the past three months and 10.46% over the past year, but those could be a reflection of the challenges in international IPO markets in the past year.
<h1 class="wp-block-heading">Strong Investor Appetite For IPOs</h1>
Per a Reuters report, recent IPOs have demonstrated strong performances, indicating ample investor interest. An example is ARM Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>), which raised $4.87 billion in September 2023. Its shares surged nearly 200% since. Another instance is Viking Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIK#NYSE">VIK</a>) which raised $1.54 billion in April 2023, climbing 86% since. These results, and the results of many such companies, show us that there is a thriving appetite for high-profile IPOs.
Reuters reported that a promising <a href="https://www.benzinga.com/calendars/ipos">lineup of anticipated IPOs</a> is in the pipeline this year, powered by a more business-friendly regulatory situation as interest rates decline and Donald Trump returns to the White House. High-profile IPOs from companies such as Klarna, Chime, Cerebras and Medline are expected to headline the rebound.
David Solomon, CEO of Goldman Sachs, echoed this optimism on CNBC, noting that the multi-year IPO drought is finally nearing its end.
Proceeds from U.S. IPOs are expected to rise significantly, according to EY, thanks to monetary easing and historical trends that show IPO activity often builds in the years following a presidential election, irrespective of the winning party. 
The incoming Trump administration's policies, including plans for corporate tax cuts and regulatory rollbacks, should further fuel market sentiment. Pro-crypto leader Paul Atkins' expected leadership at the SEC, coupled with unified Republican control of the House and Senate, could relax the restrictive regulatory environment, supporting IPO growth.
See Next: 
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<li><a href="https://www.benzinga.com/25/01/43170386/spdr-gold-shares-vs-ishares-gold-trust-two-shiny-etfs-in-focus-as-tariff-man-trump-fuels-uncertainty">SPDR Gold Shares Vs. iShares Gold Trust: Two Shiny ETFs In Focus As &#8216;Tariff Man&#8217; Trump Fuels Uncertainty</a></li>
</ul>
Photo: Shutterstock

IPO Rebound In 2025? Here's What's Fueling The Boom, How ETFs Can Help Investors Capitalize

Carrier Global Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>) disclosed on Thursday its plan to sell Commercial and Residential Fire business to an <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/n40390337/carrier-announces-agreement-to-sell-commercial-and-residential-fire-business-to-an-affiliate-of-lo" rel="noreferrer noopener">affiliate of </a><a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/n40390337/carrier-announces-agreement-to-sell-commercial-and-residential-fire-business-to-an-affiliate-of-lo" rel="noreferrer noopener">Lone Star Funds</a><a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/n40390337/carrier-announces-agreement-to-sell-commercial-and-residential-fire-business-to-an-affiliate-of-lo" rel="noreferrer noopener"> for $3 billion</a>.
The sale of Carrier&#8217;s Commercial and Residential Fire business is a key step in its portfolio transformation following the January acquisition of Viessmann Climate Solutions and the divestiture of its Industrial Fire and Global Access Solutions units.
The transaction, expected to close by the end of 2024, is subject to regulatory approvals and standard conditions.
Following its acquisition of Viessmann Climate Solutions, Carrier has cut its net debt by over $5 billion, including through last week&#8217;s debt tender.
With significant de-leveraging this year, the company plans to use the estimated $2.2 billion in net proceeds from the sale for share repurchases.
Carrier Chairman &amp; CEO&nbsp;David Gitlin said, &#8220;The sale of our Commercial and Residential Fire business marks a defining step in our planned business exits critical to our transformational journey to becoming a focused, agile, higher-growth, pure-play company dedicated to creating a more sustainable world for generations to come.&#8221;
&#8220;We now have executed deals on all our divestitures, all signed within about a year of announcement, with a combined value of over&nbsp;$10 billion, representing a mid-teens EBITDA multiple in aggregate.&#8221;
In July, Carrier reported that second-quarter net sales rose 12% Y/Y to $6.70 billion, missing the $7.00 billion consensus, and adjusted <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39961444/carrier-global-delivers-mixed-q2-results-plan-to-repurchase-1b-shares-in-h2" rel="noreferrer noopener">EPS of $0.87 beat the $0.84 consensus</a>.
Investors can gain exposure to the stock via&nbsp;First Trust US Equity Opportunities ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPX#NYSE">FPX</a>) and&nbsp;Carbon Collective Climate Solutions U.S. Equity ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCSO#NASDAQ">CCSO</a>).
Price Action: CARR shares closed higher by 4.14% at $68.40 on Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40017486/carrier-global-analyst-re-evaluates-position-after-q2-earnings-exceed-expectations" target="_blank" rel="noreferrer noopener">Carrier Global Analyst Re-evaluates Position After Q2 Earnings Exceed Expectations</a></li>
</ul>

Asset Sales

CCSO

Carrier Global Sells Commercial And Residential Fire Business For $3B, Proceeds To Be Utilized For Stock Buybacks

Carrier Global Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>) shares are trading lower after it reported <a href="https://www.benzinga.com/pressreleases/24/07/n39952796/carrier-reports-strong-second-quarter-2024-results" target="_blank" rel="noreferrer noopener">second-quarter FY24 results</a>.
Net sales rose&nbsp;12%&nbsp;Y/Y to&nbsp;$6.70 billion, missing the consensus of&nbsp;$7.00 billion.
Revenue included 2% organic growth and a 12% boost from the Viessmann Climate Solutions acquisition, partially offset by a 2% decline from divestitures.
GAAP operating profit of&nbsp;$3.7 billion&nbsp;was up over&nbsp;650%&nbsp;from last year, primarily due to the gain on the sale of Access Solutions and the addition of Viessmann Climate Solutions.&nbsp;Adjusted operating profit of&nbsp;$1.2 billion&nbsp;was up&nbsp;26%&nbsp;Y/Y,&nbsp;driven by contribution from Viessmann Climate Solutions.
Carrier Chairman &amp; CEO&nbsp;David Gitlin said, &#8220;We delivered solid sales and roughly&nbsp;30%&nbsp;orders growth as we continue to outperform in our markets. Our strong operational execution drove 200 basis points of adjusted operating margin expansion and double-digit adjusted earnings growth.&#8221;
The company reported adjusted EPS of&nbsp;$0.87, beating<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener"> the consensus of&nbsp;$0.84</a>.
Operating cash flow totaled&nbsp;$660 million, and capital expenditures were&nbsp;$111 million, resulting in a free cash flow&nbsp;of&nbsp;$549&nbsp;million.
The company exited the quarter with cash and cash equivalents worth&nbsp;$2.92 billion.
Gitlin added that, &#8220;Year-to-date, we also closed on <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39135922/honeywell-takes-flight-boosts-guidance-closes-carrier-global-transaction" rel="noreferrer noopener">two of our four business exits</a>, and the remaining two continue to track well. The proceeds from the exits, combined with our strong free cash flow performance, have enabled us to reduce net debt by about&nbsp;$5 billion&nbsp;in the quarter and we now plan to repurchase about&nbsp;$1 billion&nbsp;of shares in the second half of 2024.&#8221;
FY24&nbsp;Outlook: Carrier reiterated adjusted EPS outlook of&nbsp;$2.80-$2.90&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">versus the&nbsp;$2.86&nbsp;estimate</a>.&nbsp;
The company reduced its sales&nbsp;outlook&nbsp;to ~$25.5 billion&nbsp;from previously expected ~$26 billion&nbsp;(vs.&nbsp;$25.555 billion estimate), with&nbsp;mid-single-digit organic growth.
Carrier reiterated outlook for an adjusted operating margin of&nbsp;15.5%&nbsp;and a free cash flow of ~$0.4 billion.
Investors can gain exposure to the stock via&nbsp;First Trust US Equity Opportunities ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPX#NYSE">FPX</a>) and&nbsp;Carbon Collective Climate Solutions U.S. Equity ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCSO#NASDAQ">CCSO</a>).
Price Action: CARR shares are down 2.73% at $64.19 at the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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<li><a href="https://www.benzinga.com//node/39958034" target="_blank" rel="noreferrer noopener">Honeywell Beats On Q2 Earnings, Thanks To Aerospace Strength; Lowers FY24 EPS Outlook</a></li>
</ul>

Earnings

Guidance

Buybacks

Carrier Global Delivers Mixed Q2 Results, Plan To Repurchase $1B Shares In H2

The cost to ship a standard 40-foot container of goods from Shanghai to New York has <a href="https://www.benzinga.com/markets/equities/24/02/37014564/red-sea-crisis-hits-maersk-outlook-oversupply-will-cause-price-pressure-impact-results">risen to nearly $10,000</a>.
That&#8217;s because cargo ships are taking the long way around Africa to avoid Houthi rebels in the Suez Canal.
A much longer route puts a squeeze on container vessels and ultimately leads to higher shipping rates on things like toys and auto parts.
The Drewry World Container Index&#8216;s spot rate for such a shipment hit $9,387 on July 11, up more than double the rate from February, Reuters reported. 
Shipping rates may soar even higher. Greg Davidson, CEO of Lalo, told Reuters he expects $20,000 per container.
Importers may also rush to ship goods to the U.S. Fears are spreading that imports could face sweeping tariffs if former President Donald Trump wins the 2024 election in November. 
Read Also: <a href="https://www.benzinga.com/markets/equities/23/12/36411365/shipping-giant-maersk-eyes-development-of-green-methanol-bunkering-infrastructure-in-yokohama-de">Shipping Giant Maersk Eyes Development Of Green Methanol Bunkering Infrastructure In Yokohama: Details</a>
The closely watched Shanghai Containerized Freight Index rate for Shanghai to the U.S. West Coast topped $8,100 this month to set a new record. Sea cargo volumes remain below early pandemic highs.
Drewry&#8217;s index had the rate on that trade lane at around 60% of its pandemic peak of $12,400 per container.
Price Action: Exchange-traded funds that track shipping container stocks saw modest gains and declines by Monday&#8217;s late-afternoon trading.
First Trust US Equity Opportunities ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPX#NYSE">FPX</a>) gained 0.85%, while Leatherback Long/Short Alternative Yield ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LBAY#NYSE">LBAY</a>) inched up 0.01% and Invesco MSCI Global Timber ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CUT#NYSE">CUT</a>) slipped 0.06%.
Carbon Collective Climate Solutions U.S. Equity ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCSO#NASDAQ">CCSO</a>) declined 0.40% and ProShares UltraShort Materials&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMN#NYSE">SMN</a>) slipped 0.42%.
Read Now:
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</ul>

Asia

LBAY

Container Costs Rise As Shippers Skip Dangerous Suez Canal, Stress Over Trump Tariffs

Samsara Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IOT#NYSE">IOT</a>) shares are trading lower after the company reported<a target="_blank" href="https://www.benzinga.com/pressreleases/24/06/b39215530/samsara-reports-first-quarter-fiscal-year-2025-financial-results" rel="noreferrer noopener"> first-quarter FY25 results</a>.
Revenue rose 37% Y/Y to $280.7&nbsp;million, beating the consensus of $266.84 million. Annual Recurring Revenue (ARR) surged 37% Y/Y to $1.18 billion.
Adjusted gross profit rose to $215.9 million from $149.7 million a year ago, with a margin of 77% versus 73% prior year.
Adjusted operating income stood at $6.2 million versus a loss of $19.0 million last year. Adjusted EPS of&nbsp;$0.03&nbsp;<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">exceeded the estimate of&nbsp;$(0.01)</a>.
Operating cash flow stood at $23.7 million, and adjusted free cash flow came in at $18.6 million.
Outlook: IOT sees&nbsp;second-quarter adjusted EPS&nbsp;of $0.00-$0.01&nbsp;(versus&nbsp;$0.01&nbsp;estimate) and revenue&nbsp;of $288 million-$290 million&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">versus&nbsp;the estimate of $287.25 million</a>.
The company revises FY25 adjusted EPS outlook to $0.13-$0.15 (from $0.11-$0.13, vs. consensus of $0.12) and revenue to $1.205 billion-$1.213 billion (from $1.186 billion-$1.196 billion, versus an estimate of $1.20 billion).
Investors can gain exposure to the stock via First Trust US Equity Opportunities ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPX#NYSE">FPX</a>) and TrueShares Technology, AI &amp; Deep Learning ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LRNZ#NYSE">LRNZ</a>).
Price Action: IOT shares are down 12.7% at $30.43 premarket at the last check Friday.
Photo via Shutterstock

LRNZ

What's Going On With Software Company Samsara Shares Today?

ZEEKR Intelligent Technology Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZK#NYSE">ZK</a>), the global electric mobility technology solutions brand of Chinese automaker Geely Automobile Holding (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GELYY#OTC">GELYY</a>), priced its U.S. initial public offering (IPO) of <a href="https://www.benzinga.com/pressreleases/24/05/n38754471/zeekr-intelligent-technology-holding-limited-announces-pricing-of-its-initial-public-offering" target="_blank" rel="noreferrer noopener">21 million American Depositary Shares (ADS) at $21 per share</a>.
The shares will begin trading on May&nbsp;10, 2024, on the New York Stock Exchange under the&nbsp;ticker symbol&nbsp;&#8220;ZK.&#8221;&nbsp;
The company&nbsp;<a target="_blank" href="https://www.sec.gov/Archives/edgar/data/1954042/000110465924057064/tm229938-32_f1a.htm" rel="noreferrer noopener">earlier&nbsp;</a>planned to sell 17.50 million ADSs with&nbsp;the&nbsp;price estimated&nbsp;between $18.00 and $21.00 per ADS.
The offering&nbsp;is expected&nbsp;to close on&nbsp;May 14, 2024, subject to customary closing conditions.&nbsp;
The company has granted the underwriters an option, exercisable for 30 days from the date of the final prospectus,&nbsp;to purchase up to an aggregate of 3.15 million additional ADSs at the IPO price.
The total gross proceeds of the offering&nbsp;are expected&nbsp;to be approximately&nbsp;$441.0 million and $507.2 million&nbsp;if the underwriters choose to&nbsp;exercise their over-allotment option in full.
The IPO gives Zeekr a fully diluted valuation of $5.5 billion, while on a non-diluted basis, the company&nbsp;is valued&nbsp;at about $5.1 billion. The company closed orders from investors a day earlier due to strong demand, according to a report from Reuters.
Strategic investors, including Geely Automobile, Contemporary Amperex Technology Co Ltd, and&nbsp;Mobileye Global&nbsp;Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>), accounted for $300 million worth of stock sold in the IPO, the report noted.&nbsp;
The IPO was multiple times&nbsp;oversubscribed&nbsp;but analysts&nbsp;doubt&nbsp;an imminent surge of Chinese listings in New York, Reuters noted.&nbsp;
Zeekr&#8217;s strong demand for IPO comes amid a fierce EV price war in China, prompting companies like Zeekr,&nbsp;BYD&nbsp;Company&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>), SAIC Motor Corp Ltd, and Great Wall Motor to expand into Europe.
While Zeekr&#8217;s IPO valuation represents a decrease from its previous valuation, the company has shown growth, delivering its first vehicle in October 2021 and surpassing some competitors&#8217; deliveries in the first four months of 2024, the report mentioned.
Zeekr disclosed a surge in total revenue to ¥51.67 billion ($7.28 billion) in 2023, but its net loss widened to ¥(8.26) billion.&nbsp;
The report mentioned that the listing marks the&nbsp;biggest&nbsp;Chinese flotation on U.S. stock exchanges since 2021.
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/large-cap/24/05/38733432/tesla-cuts-more-jobs-in-china-as-competition-heats-up" rel="noreferrer noopener">Tesla Cuts More Jobs In China As Competition Heats Up</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image Credits &#8211; Shutterstock

Media

BYDDY

GELYY

MBLY

China's Zeekr Prices US IPO At Top End Of Estimated Range - What's On The Cards?

Morgan Stanley&nbsp;analyst Brian Nowak reiterated an Overweight rating on&nbsp;Uber Technologies, Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) with a price target of $90.
Nowak flagged that UBER&#8217;s growth-adjusted multiple is now lower than&nbsp;Lyft, Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>) and&nbsp;Maplebear Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CART#NASDAQ">CART</a>), which creates an attractive entry point.&nbsp;
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/06122513/newplot-1-1.png" alt="" class="wp-image-324368" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/06122513/newplot-1-1.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/06122513/newplot-1-1-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
He highlighted that this pullback has come as investors need more confidence in upward revisions. At the same time, fears around Robotaxi and autonomous driving disruption have re-emerged following the release of&nbsp;Tesla Inc&#8217;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) new autonomous capabilities and the announcement of its Robotaxi event on August 8.&nbsp;
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38500447/teslas-robotaxi-plans-potential-threat-or-future-partner-for-uber" rel="noreferrer noopener">Tesla&#8217;s Robotaxi Plans: Potential Threat Or Future Partner For Uber?</a>
Nowak noted that the Morgan Stanley Alphawise Survey shows ample growth runway, and Uber&#8217;s multi-product rides and cross-platform strategies&nbsp;are set&nbsp;to drive adoption, frequency, and profitable growth. He also detailed Uber Eats&#8217; suburb opportunity and the LATAM rides opportunity, given&nbsp;DiDi Global Inc&#8217;s&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/DIDIY#OTC">DIDIY</a>) potential pullback in investment.&nbsp;
Nowak noted a 30% upside to his $90 Uber price target, which implies paying 22X fiscal 2025 EBITDA or a ~4% fiscal 2025 free cash flow (FCF) yield.&nbsp;
On an FCF to growth basis, Nowak&#8217;s price target implies a 0.8 FCF to growth multiple, in line with&nbsp;DoorDash, Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>)
&nbsp;and a ~10-20% premium to LYFT and CART is justified, given UBER&#8217;s leading scale, market position, and ability to drive growth and FCF.&nbsp;
On LYFT, Nowak noted reasonable forward growth and profitability, with a slightly negative tactical skew (in particular, vs. UBER).&nbsp;&nbsp;He&nbsp;noted&nbsp;reasonable forward growth and profitability on CART but with a somewhat positive skew.
Uber Technologies&nbsp;stock gained over 85% in the last 12 months. Investors can gain exposure to the stock via&nbsp;First Trust US Equity Opportunities ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPX#NYSE">FPX</a>) and&nbsp;Global X Millennial Consumer ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MILN#NASDAQ">MILN</a>).
Price Action:&nbsp;UBER shares traded higher by 3.22% at $71.46&nbsp;at&nbsp;the last check Monday.
Also Read: <a href="https://www.benzinga.com/government/24/05/38582907/uber-vs-londons-black-cab-company-faces-310m-claim-from-drivers" target="_blank" rel="noreferrer noopener">Uber Vs. London&#8217;s Black Cab: Company Faces $310M Claim from Drivers</a>
Photo by Alex Photo Stock on Shutterstock

Price Target

Reiteration

Analyst Ratings

Tech

CART

DASH

DIDI GLOBAL INC S/ADR by DiDi Global Inc.

DIDIY

LYFT

MILN

TSLA

UBER

Uber's Low Growth-Adjusted Multiple Creates An Attractive Entry Point: Morgan Stanley

Uber Technologies, Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) is being sued for millions by over 10,500 London black-cab drivers, claiming the company unlawfully secured a license in 2012, which led to their business loss.&nbsp;
The lawsuit, organized by RGL Management and estimated at roughly $312.90 million (250 million Sterling Pounds) in damages, accuses Uber of siphoning business away from local drivers.&nbsp;
Over 10,500 black-cab drivers allege that Uber improperly acquired a license from Transport for London (TfL) in 2012, which&nbsp;they claim&nbsp;enabled Uber to divert business from traditional taxi operators unlawfully, the Financial Times&nbsp;<a target="_blank" href="https://www.ft.com/content/226a1522-cc1f-4c49-b1d0-bdc2798b2401" rel="noreferrer noopener">reports</a>.
In 2017, TfL refused to renew Uber&#8217;s license, judging it not a &#8220;fit and proper&#8221; operator, which was a decision partly reversed after Uber&#8217;s appeal and subsequent apologies for past mistakes by CEO Dara Khosrowshahi.&nbsp;
In 2022, TfL granted Uber a 30-month license, which is up for renewal at the end of September this year. Moreover, in 2021, a high-court ruling forced Uber to reclassify its&nbsp;U.K.&nbsp;drivers as workers rather than independent contractors, providing them with benefits like holiday pay and pensions.
In 2023, Uber&nbsp;<a target="_blank" href="https://www.benzinga.com/government/23/11/35999215/uber-expands-in-london-by-integrating-iconic-black-cabs" rel="noreferrer noopener">announced plans to</a>&nbsp;integrate London&#8217;s iconic black cabs into its platform by 2024, striving to mend a decade-long rift with the traditional taxi service.&nbsp;
Historically, black cab drivers, who must pass the rigorous &#8220;The Knowledge&#8221; test, have accused Uber of undermining their business.&nbsp;
Known as Hackney carriages, these are the only taxis in London authorized to pick up passengers directly from the street or taxi ranks, and they&nbsp;are also accessible through various other apps.
Analysts&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38500447/teslas-robotaxi-plans-potential-threat-or-future-partner-for-uber" rel="noreferrer noopener">remain optimistic about</a>&nbsp;Uber as their preferred stock in the travel and transportation sector due to its superior bookings and EBITDA growth relative to its peers.&nbsp;
They expect Uber&#8217;s diverse business verticals to continue driving growth above industry norms. Analysts noted growing competition in the autonomous vehicle (AV) sector could benefit Uber. Uber stands out as one of the sector&#8217;s most promising large-cap growth stories and&nbsp;is currently undervalued.
Uber Technologies&nbsp;stock gained 86% in the last 12 months. Investors can gain exposure to the stock via&nbsp;First Trust&nbsp;US&nbsp;Equity Opportunities ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPX#NYSE">FPX</a>) and&nbsp;Global X Millennial Consumer ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MILN#NASDAQ">MILN</a>).
Price Action:&nbsp;UBER shares traded higher by 1.22% at $68.62 premarket at&nbsp;the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Government

Regulations

Legal

Uber Vs. London's Black Cab: Company Faces $310M Claim from Drivers

Carrier Global Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>)&nbsp;shares are trading higher, rebounding from earlier weakness following&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38425103/carrier-reports-strong-first-quarter-2024-results" rel="noreferrer noopener">first quarter FY24 results</a>.
Net sales rose 17% Y/Y to $6.18 billion, missing the consensus of $6.28 billion.
Adjusted operating profit of $927 million was up 44% Y/Y,&nbsp;driven by&nbsp;strong&nbsp;productivity and the contribution from Viessmann Climate Solutions. Margin expanded to 15.0% from 12.2% a year ago.
The company reported adjusted EPS of $0.62, beating<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">&nbsp;the consensus of $0.51</a>.
Net cash provided by operating activities totaled $40 million, and capital expenditures were&nbsp;$104 million, resulting in a free cash outflow of&nbsp;$(64) million.
The company exited the quarter with cash and cash equivalents worth $1.31 billion.
David Gitlin, Carrier Chairman &amp; CEO, said, &#8220;We closed on&nbsp;Viessmann Climate Solutions at the beginning of the year, which will be transformational for Carrier and the industry. We are focused on capitalizing on the long-term secular sustainability trends, outperforming the market, and achieving and accelerating revenue and cost synergies.&#8221;
&#8220;The business exits are also on track as we are within months of closing on three of our four transactions and are making significant progress on completing the fourth. We&nbsp;now&nbsp;expect to resume share repurchases in 2024 as the net proceeds from the announced transactions help us return to ~2x net leverage this year.&#8221;
Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/03/37481571/fire-sale-carrier-global-divests-industrial-fire-unit-for-1-425b-in-portfolio-shake-up" rel="noreferrer noopener">Fire Sale: Carrier Global Divests Industrial Fire Unit For $1.425B In Portfolio&nbsp;Shake-Up</a>
FY24 Outlook:&nbsp;Carrier reiterated adj. EPS of $2.80-$2.90&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">versus the $2.84 estimate</a>.&nbsp;
The company revised its sales outlook to ~$26 billion from ~$26.5 billion (vs.&nbsp;$26.205 billion&nbsp;estimate), with&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/02/36959531/carrier-globals-mixed-bag-in-q4-flat-sales-solid-profits-and-big-moves-in-business-strategy" rel="noreferrer noopener">mid-single-digit organic growth</a>.
Carrier now sees an adjusted operating margin of 15.5% (vs. 15%-15.5% earlier) and a free cash flow of ~$0.4 billion.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38317463/carrier-global-invests-in-strategic-thermal-labs-for-data-center-cooling-solutions" rel="noreferrer noopener">Carrier Global Invests In Strategic Thermal Labs For Data Center Cooling Solutions</a>
Investors can gain exposure to the stock via&nbsp;First Trust US Equity Opportunities ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPX#NYSE">FPX</a>) and&nbsp;Invesco S&amp;P Spin-Off ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CSD#NYSE">CSD</a>).
Price Action:&nbsp;CARR shares are up 7.3% at $58.77&nbsp;at the last check Thursday.

Why Carrier Global Shares Are Surging Today

Airbnb Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>) shares are trading lower after Needham analyst Bernie McTernan <a href="https://www.benzinga.com/quote/ABNB/analyst-ratings" target="_blank" rel="noreferrer noopener">downgraded the stock</a> from Buy to Hold.
The market has an overly optimistic view of Airbnb&#8217;s potential to leverage artificial intelligence (AI) to disrupt the global online travel agency (OTA) industry, McTernan says. 
The analyst projected first-quarter revenue and EPS of $2.05 billion and $0.73.
Airbnb CEO Brian Chesky spoke on a February earnings call about expanding beyond the company&#8217;s core business.
McTernan inferred this as AI-enabled OTA, where consumers could book an entire trip, not just a short-term rental. This makes a lot of sense, as it leverages Airbnb&#8217;s scale. Consumers will likely come to the platform earlier in the booking journey. Plus, the emergence of generative AI can provide a differentiated product.
However, he also flagged that the shift is coming at a time when Airbnb growth is slowing and converging with Booking Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>) and Expedia Group, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>) after the pull-forward from the pandemic, which resulted in 2023 bookings that were nearly double 2019 levels. 
Despite the lower growth outlook, Airbnb trades at a premium to peers relative to growth. The market, he noted, is too bullish on the near-term potential for the AI OTA app.
Airbnb also faces potential challenges in generating the global scale necessary to impact estimates. There&#8217;s potential for price competition with incumbents and the need to unlock hotels that likely see Airbnb as an existential threat. 
Meanwhile, Benchmark analyst Daniel L. Kurnos initiated coverage on Airbnb with a Buy rating and a price target of $190.
Even as competition has increased in conjunction with growing awareness and adoption of alternative accommodations within the broader travel market, research shows that Airbnb has retained its number 1 position with consumers, hosts, and unaffiliated travel experts, as per the analyst.&nbsp;
He noted that a lot of the low-hanging share price fruit has been picked at current levels but still views Airbnb as a sound momentum play, with potentially material upside to fundamentals over the next 12-36 months through a combination of market expansion and existing market penetration gains, notable global events this year, including Euro 2024 and the Paris Olympics, growth in service fees, ranging from the previously announced cross-border fee to upcoming incremental service launches and the oft-discussed but still vague timing around a potential foray into advertising via sponsored listings.&nbsp;
The analyst projected first-quarter revenue and EPS of $2.06 billion and $0.17.
Airbnb stock gained over 40% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Global X PropTech ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTEC#NASDAQ">PTEC</a>) and&nbsp;First Trust US Equity Opportunities ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPX#NYSE">FPX</a>).
Price Action: ABNB shares traded lower by 0.95% at $158.76 on the last check Thursday.
Image: Shutterstock

Downgrades

Initiation

Travel

ABNB

BKNG

EXPE

PTEC

Airbnb Faces Growth Hurdles Despite Strong Consumer Preference, Analysts Warn

Uber Technologies, Inc&#8217;s&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) Uber Eats is introducing a&nbsp;TikTok-style short-form video feature to enhance food discovery and enable restaurants to highlight their offerings more vividly.&nbsp;
This feature, which is currently undergoing testing in New York, San Francisco, and Toronto, represents Uber Eats&#8217; foray into the burgeoning realm of&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/03/37981584/linkedin-enters-short-form-video-battle-with-new-tiktok-style-feed-targets-professional-growth-conte" rel="noreferrer noopener">short-form video content</a>, aligning with a trend popularized by platforms like&nbsp;Meta Platforms Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)&nbsp;Instagram,&nbsp;Alphabet Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)&nbsp;YouTube,&nbsp;Snap Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>)&nbsp;Snapchat,&nbsp;Netflix Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>), and recently&nbsp;Microsoft Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)&nbsp;LinkedIn.&nbsp;
The feature showcases videos in a swipeable format, visible in carousels throughout the app, including the home screen, TechCrunch&nbsp;<a target="_blank" href="https://techcrunch.com/2024/04/08/uber-eats-launches-tiktok-like-video-feed/" rel="noreferrer noopener">reports</a>.&nbsp;
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/02/36980065/uber-technologies-clocks-strong-q4-performance-ceo-terms-it-profitable-growth-at-scale" rel="noreferrer noopener">Uber Technologies Clocks Strong Q4 Performance, CEO Terms It &#8216;Profitable Growth At Scale&#8217;</a>
These videos aim to give users a closer look at food preparation, textures, portion sizes, and dish compositions, ultimately boosting consumer confidence in trying new dishes.&nbsp;
Notably, the content is offered to users based on the proximity of the restaurants, ensuring relevance and delivery feasibility.
Uber Eats&#8217; approach differentiates from typical advertising; it doesn&#8217;t charge merchants for these video placements, offering a unique platform for restaurants to connect directly with potential customers.&nbsp;
This move is particularly significant as many restaurants leverage social media to attract new patrons and showcase their culinary creations.&nbsp;
Introducing this feature into the Uber Eats app aims to streamline the discovery process and encourage users to seek culinary inspiration within the app itself.
Uber Eats is also enhancing its support for merchants by revamping the Uber Eats Manager software with personalized growth recommendations and preparing to launch a new app for restaurant managers to facilitate on-the-go business management.
Prior reports indicated Microsoft&#8217;s LinkedIn testing a TikTok-like short-form video feed enabling users to interact with vertical short videos by liking, commenting, and sharing. This move by LinkedIn focuses on career-oriented and professional content.
Reports also suggested that&nbsp;Spotify Technology SA&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) explore full-length music videos to appeal to the Gen Z audience. Meta expanded its short video offerings with the global launch of &#8220;Reels&#8221; in February 2022, while Google reported in June 2022 that YouTube &#8220;Shorts&#8221; had garnered over 1.5 billion logged-in monthly viewers.&nbsp;Amazon.Com Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) also entered the fray in August 2022, trialing a TikTok-like photo and video feed within its shopping app to facilitate product discovery.
Uber stock gained over 136% in the last 12 months. Investors can gain exposure to the stock via&nbsp;First Trust US Equity Opportunities ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPX#NYSE">FPX</a>) and&nbsp;Global X Millennial Consumer ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MILN#NASDAQ">MILN</a>).
Price Action:&nbsp;UBER shares traded lower by 0.05% at $75.00 on the last check Tuesday.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/government/24/03/37624971/uber-freight-targets-european-market-for-10x-expansion-push-by-2028" rel="noreferrer noopener">Uber Freight Targets European Market For 10X Expansion Push By 2028</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons

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Uber Eats Embraces TikTok Wave with New Short-Form Video Discovery Tool

Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) shares are trading <a href="https://www.benzinga.com/premarket" target="_blank" rel="noreferrer noopener">higher in the morning session on Friday.</a>
Yesterday, the company entered into a new nationwide partnership with&nbsp;The Vitamin Shoppe, bringing the New Jersey-based health and wellness retailer&#8217;s selection to the Uber Eats app.
About 700 locations of The Vitamin Shoppe and Super Supplements are now available for ordering on Uber Eats across the U.S.
Read More:<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38091557/health-on-demand-uber-eats-partners-with-the-vitamin-shoppe" rel="noreferrer noopener">&nbsp;Health On Demand: Uber Eats Partners With The Vitamin Shoppe</a>
Earlier this month, Uber Health collaborated with Acadia Healthcare Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACHC#NASDAQ">ACHC</a>) to improve access to life-saving behavioral health care and addiction treatment.
The companies will initially focus on Acadia&#8217;s national Comprehensive Treatment Centers (CTCs) network, which will provide medication-assisted treatment (MAT) in combination with counseling and behavioral therapies for those struggling with opioid addiction.&nbsp;
The collaboration will provide patients with transportation to begin treatment quickly and efficiently. Acadia and Uber Health plan to roll out the program to 19 facilities across several states.
Related:<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38071488/breaking-barriers-uber-health-and-acadia-healthcare-partner-to-enhance-behavioral-health-access" rel="noreferrer noopener">&nbsp;Breaking Barriers: Uber Health And Acadia Healthcare Partner To Enhance Behavioral Health Access</a>
Last month, the company&#8217;s smaller segment&nbsp;Uber Freight&nbsp;was in the headlines for aggressively pursuing growth in Europe&#8217;s diverse logistics sector, targeting a tenfold increase in its freight management to 2 billion euros by 2028 through a comprehensive digital platform that oversees companies&#8217; entire supply chains.&nbsp;
Check This Out:&nbsp;<a target="_blank" href="https://www.benzinga.com/government/24/03/37624971/uber-freight-targets-european-market-for-10x-expansion-push-by-2028" rel="noreferrer noopener">Uber Freight Targets European Market For 10X Expansion Push By 2028</a>
In February, Uber reported fourth-quarter fiscal 2023 revenue growth of 15% year-on-year to $9.94 billion,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/02/37130853/ubers-stock-is-on-a-ride-wednesday-heres-why" rel="noreferrer noopener">beating the consensus of $9.76 billion.&nbsp;</a>
Uber&#8217;s GAAP EPS of 29 cents beat the consensus of 17 cents. Trips grew 24% year-over-year to 2.60 billion, equivalent to 28 million per day.&nbsp;
Investors can gain exposure to Uber via&nbsp;First Trust US Equity Opportunities ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPX#NYSE">FPX</a>) and&nbsp;Global X Millennial Consumer ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MILN#NASDAQ">MILN</a>).
Price Action:&nbsp;UBER shares are trading higher by 2.369% to $76.69 on the last check Friday.&nbsp;
Photo via Shutterstock

ACHC

What's Going On With Uber Technologies Shares Friday?

Uber Freight&nbsp;is aggressively pursuing growth in Europe&#8217;s diverse logistics sector, targeting a tenfold increase in its&nbsp;<a target="_blank" href="https://www.benzinga.com/news/23/01/30550961/uber-freight-bows-down-to-macro-uncertainties-lets-go-of-150-employees" rel="noreferrer noopener">freight management to</a>&nbsp;2 billion euros by 2028 through a comprehensive digital platform that oversees companies&#8217; entire supply chains.&nbsp;
Despite being a smaller segment of&nbsp;Uber Technologies Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>), contributing 14% of its total revenue in 2023, Uber Freight&#8217;s revenue dipped nearly 25% from the previous year, primarily due to declining trucking rates.&nbsp;
However, the situation shows improvement as supply chain issues are resolved, and excess inventories normalize, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-03-12/uber-freight-eyes-tenfold-boost-in-european-market-by-2028?srnd=technology-vp&amp;sref=TBDibEcD" target="_blank" rel="noreferrer noopener">reports</a>.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/02/37130641/why-is-uber-rival-stock-lyft-shooting-higher-wednesday" rel="noreferrer noopener">Lyft&#8217;s Q4 Earnings Beat Raises Stakes: Analyst Upgrades and First Positive Cash Flow Expected in 2024</a>
Lior Ron, the founder and CEO of Uber Freight, cites the success of major companies in North America as a critical driver for digital expansion in Europe, leveraging Uber&#8217;s technological and brand infrastructure and the demand from global customers for support in Europe. 
Uber Freight recently announced that it is managing 200 million euros in freight within Europe, aiming to capture a more significant share of the 1.2 trillion euros logistics market, as estimated by McKinsey &amp; Co.
Experts like McKinsey&#8217;s Florian Neuhaus see potential in standardizing transport management systems (TMS) across Europe.&nbsp;
In February, Uber reported&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/02/37130853/ubers-stock-is-on-a-ride-wednesday-heres-why" rel="noreferrer noopener">fourth-quarter fiscal 2023</a>&nbsp;revenue growth of 15% year-on-year to $9.94 billion, beating the consensus of $9.76 billion.&nbsp;
Uber&#8217;s GAAP EPS of 29 cents beat the consensus of 17 cents. Trips grew 24% year-over-year to 2.60 billion, equivalent to 28 million per day. 
Investors can gain exposure to Uber via&nbsp;First Trust US Equity Opportunities ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPX#NYSE">FPX</a>) and&nbsp;Global X Millennial Consumer ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MILN#NASDAQ">MILN</a>).
Price Action: UBER shares traded higher by 0.50% at $77.86 premarket on the last check Tuesday.
Now Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37614564/bitcoin-etf-investment-frenzy-500m-rushes-in-but-wheres-the-money-going">Bitcoin ETF Investment Frenzy: $500M Rushes In, But Where&#8217;s The Money Going?</a>
Photo: Unsplash

Eurozone

Uber Freight Targets European Market For 10X Expansion Push By 2028

KKR &amp; Co Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kkr#NYSE">KKR</a>) backed&nbsp;BrightSpring Health Services, Inc.&nbsp;filed for an initial public offering (<a class="editor-rtfLink" href="https://www.sec.gov/Archives/edgar/data/1865782/000119312524000734/d251968ds1.htm" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">IPO</a>) in the U.S. on Tuesday.
BrightSpring Health Services is a home and community-based healthcare services platform that offers complementary pharmacy and provider services to complex patients.
The company serves over 400,000 patients daily through its about 10,000 clinical providers and pharmacists, across 50 states.
Walgreen Co., an affiliate of&nbsp;Walgreens Boots Alliance, Inc.&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wba#NASDAQ">WBA</a>) holds stake in the company, as per the filing.
BrightSpring Health Services plans to use the proceeds from the IPO to pay off debt. The company&#39;s total debt as of September 30, 2023, was $3.5 billion.
In the nine months ending September 2023, the company reported a revenue increase of 12.2% to $6.451 billion, led by volume growth and rate increases in the Home Health Care and Community and Rehab Care segments. BrightSpring reported a net loss attributable of $(148.1) million vs. a profit of $2.3 million a year ago.
The company had been aiming to pursue an IPO since 2021 but shelved it in November 2022 amid an uncertain economy, as per Reuters.
Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/12/36279355/kkr-secures-7-2b-prime-rv-loan-portfolio-in-strategic-move-with-bmo-collaboration" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">KKR Secures $7.2B Prime RV Loan Portfolio In Strategic Move With BMO Collaboration</a>
Photo via Company

KKR-Backed BrightSpring Health Services Sets Sail For IPO, Aiming To Curtail Debt

<ul>
<li>Flex Ltd&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/flex#NASDAQ">FLEX</a>) owned solar technology firm&nbsp;Nextracker Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nxt#NASDAQ">NXT</a>) raised $638.4 million via an upsized initial public offering of&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/02/n30826144/nextracker-announces-pricing-of-upsized-initial-public-offering" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">26.6 million shares at $24 per share</a>.</li>
<li>Nextracker upsized the offering from 23.3 million shares it chose to offer&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/02/n30677150/nextracker-announces-launch-of-initial-public-offering" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">at $20.00 - $23.00 per share.</a></li>
<li>Nextracker will likely trade on the Nasdaq under the ticker symbol &quot;NXT&quot; on February 9, 2023.</li>
<li>The underwriters have 30 days to purchase up to 3.99 million shares.</li>
<li>Nextracker provides intelligent, integrated solar tracker and software solutions used worldwide in utility-scale and distributed-generation solar power plants.</li>
<li>Price Action:&nbsp;FLEX shares closed lower by 1.23% at $24.15 on Wednesday.</li>
</ul>

FLEX

Flex's Nextracker Raises Over $638M Via Upsized IPO; To Begin Trading Today

<ul>
<li>Flex Ltd&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/flex#NASDAQ">FLEX</a>) subsidiary,&nbsp;Nextracker Inc, filed for a proposed&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/01/n30419495/nextracker-files-registration-statement-for-proposed-initial-public-offering" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">initial public offering of shares</a>.</li>
<li>Nextracker aims to list its common stock on the Nasdaq under the ticker symbol &quot;NXT.&quot;&nbsp;</li>
<li>Nextracker provides intelligent, integrated solar tracker and software solutions used in utility-scale and ground-mounted distributed generation solar projects worldwide.</li>
<li>Nextracker has yet to fix the proposed offering&#39;s timing, number of shares, and price range.</li>
<li>Nextracker disclosed annual revenue of about $1.46 billion with a net income of $50.9 million for its last fiscal year.</li>
<li>Nextracker parent Flex will continue to control the company after the IPO, Bloomberg&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2023-01-14/solar-energy-firm-nextracker-files-for-ipo-with-market-warming?sref=TBDibEcD" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">reports</a>.</li>
<li>The IPO came after the U.S. passed a landmark climate law providing tax credits to solar installations, including the large fields of panels that use the company&#39;s trackers.</li>
<li>Separately, Flex&#39;s factory site in Sorocaba, Brazil, won the distinction of Sustainability Lighthouse under the World Economic Forum&#39;s Global Lighthouse Network (GLN). This is the first factory in Brazil to receive a&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/01/n30436303/flex-factory-in-sorocaba-recognized-as-the-first-sustainability-lighthouse-in-brazil-by-the-world-" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Sustainability Lighthouse recognition</a>.</li>
<li>The Flex team in Sorocaba, Brazil, exhibited a substantial reduction in their environmental footprint.</li>
<li>Price Action:&nbsp;FLEX shares traded higher by 1.96% at $24.50 on the last check Tuesday.</li>
</ul>

Flex-Owned Solar Solutions Supplier Nextracker Files For US IPO

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