Singular Genomics Sys Bolsa (NASDAQ: OMIC)

Últimas noticias sobre Singular Genomics Sys (NASDAQ:OMIC) Bolsa

Singular Genomics Sys

Singular Genomics Systems Inc is a life science technology company that is leveraging novel next generation sequencing and multiomics technologies to build products that empower researchers and clinicians. The product development pipeline comprises two initial integrated solutions, each designed to leverage Sequencing Engine and purpose built to address different applications. The G4 Sequencing Platform is designed to target the NGS market. The PX Integrated Solution is designed to target the single cell, spatial analysis and proteomics markets. Both integrated solutions are used in many different and diverse market segments, including basic biology, oncology, immunology, neurology, genetic diseases, infectious diseases, the human microbiome and many others.

Singular Genomics Systems, Inc. - Common Stock

Singular Genomics Systems Inc

Ethereum Classic (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/etc/usd">ETC</a>) is trading lower by 6.2% to $18.50 during Tuesday&#8217;s session amid overall market weakness. Iran earlier launched a <a href="https://www.benzinga.com/news/global/24/10/41126038/iran-attacks-israel-with-missiles-middle-east-tensions-escalates-s-p-500-stocks-bitcoin-fall-as-oil">missile strike</a> against Israel, following the assassination of Hezbollah leader Hassan Nasrallah.
The attack, which saw between 100 to 200 missiles fired, marked a new escalation in regional tensions, with fears mounting over a broader conflict. In response, the United States bolstered its military presence, signaling the potential for further retaliatory action.
The sudden rise in conflict and uncertainty has rattled global markets, driving up safe-haven assets like gold and oil, while riskier assets such as cryptocurrencies took a hit.
Read Also: <a href="https://www.benzinga.com/news/24/10/41126631/hurricane-helene-devastation-the-latest-on-damage-companies-affected">Hurricane Helene Devastation: The Latest On Damage, Companies Affected</a>
What To Know: Cryptocurrencies, including Ethereum Classic, often see heightened volatility during periods of geopolitical unrest. As a smaller and more niche asset compared to Bitcoin or Ethereum, Ethereum Classic tends to be more vulnerable to sharp price movements during uncertain times. 
The growing conflict between Iran and Israel, with the involvement of the United States, has triggered widespread market anxiety. Investors, concerned about the potential impact on the global economy and energy markets, are fleeing riskier assets like ETC in favor of traditional safe-havens.
What Else: While Ethereum Classic has its own dedicated user base and unique blockchain infrastructure, it remains highly correlated with the broader cryptocurrency market. As political instability drives fear across global markets, investors are pulling back from cryptocurrencies as a whole.
Additionally, regulatory uncertainty around cryptocurrencies in regions like the U.S. and Europe, combined with the instability in the Middle East, is causing further trepidation among investors. 
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41122944/east-coast-dockworkers-strike-how-labor-dispute-impacts-economy-logistics-companies">East Coast Dockworkers Strike: How Labor Dispute Impacts Economy, Logistics Companies</a>

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Why Ethereum Classic Is Falling

The United Kingdom could generate between $4.38 billion and $12.6 billion annually in tax revenue by legalizing and regulating cannabis for adult use, according to a new <a href="https://clearmembers-uk.org/wp-content/uploads/2024/09/CLEAR-plan-V3.pdf">report</a> by CLEAR, a cannabis reform advocacy group. The paper lays out a detailed framework for the UK&#8217;s potential cannabis industry, from cultivation to retail.
The report proposes establishing a cannabis inspectorate to oversee commercial cultivation, importation, distribution and taxation. The aim is to create a regulated market similar to <a href="https://www.benzinga.com/general/biotech/24/05/39076458/canadian-cannabis-market-trends-sales-increase-as-youth-impact-study-unfolds">Canada&#8217;s</a>, where after six years, over 70% of all cannabis sales occur through legal channels.
<h3 class="wp-block-heading">Cannabis Market Could Stabilize Illicit Trade</h3>
The piece highlights how <a href="https://www.benzinga.com/topic/cannabis-regulation">cannabis regulation</a> could help control the UK's illicit cannabis market, currently valued between £2.9 billion ($3.84B) and £8.8 billion ($11.67B) per year. By implementing a £1-per-gram cannabis tax ($1.33 dollars), the Treasury could gain substantial revenue while avoiding the pitfalls of over-taxation seen in states like <a href="https://www.benzinga.com/markets/cannabis/24/04/38387994/california-cannabis-industry-is-drowning-in-debt-732m-owed-in-taxes-72-by-companies-already-clos">California</a>, where the illicit market <a href="https://www.benzinga.com/markets/cannabis/24/06/39188435/californias-cartel-cannabis-flourishes-in-national-parks-weed-grown-on-public-lands-accounts-for">continues to thrive</a> despite legalization.
"There isn't really any coherent argument against regulating cannabis," Peter Reynolds, president of CLEAR <a href="https://www.leafie.co.uk/news/cannabis-legalisation-worth-9-billion-uk/">told</a> Leafie. "It will reduce crime, violence, street dealing, underage use and help to prevent children from being dragged into gangs." Reynolds expressed frustration over the lack of political will to address cannabis reform. "The real problem is that our politicians don't have the courage even to discuss it."
<h3 class="wp-block-heading">New Approach To Cannabis Cultivation</h3>
CLEAR's proposal outlines a permissive yet structured approach to home cultivation, suggesting adults should be allowed to grow up to three indoor cannabis plants, plus three more under natural light, or a total of six plants outdoors. The plan also proposes a separate space for cuttings and seedlings. Unlike other countries with more restrictive cultivation laws, the UK could lead in allowing more personal freedom for home growers.
Reynolds further emphasized the economic benefits of legalizing cannabis. "Our proposals are business-friendly," he said. "Get this right, and we can create thousands of new jobs, fight crime and protect children. When will our politicians wake up?"
<h3 class="wp-block-heading">Potential Social And Health Benefits</h3>
Beyond economic gains, regulation could lead to significant public health benefits. The report cites studies showing that <a href="https://www.benzinga.com/markets/cannabis/24/05/38952528/cannabis-legalization-22m-us-teenagers-are-less-interested-in-weed-in-states-where-its-legal-go-">cannabis regulation reduces teen use</a>, lowers alcohol and cigarette consumption and decreases opioid-related deaths. An estimated 1.5 to 2.7 million people in the UK use cannabis monthly, with about 10 million having used it in the past year. Regulation would provide a safer environment for this significant portion of the population. However, the report also cautions against over-taxation.
The California model is often cited as an example of how high tax rates can drive consumers back to illicit markets. Instead, CLEAR points to <a href="https://www.benzinga.com/topic/canada-cannabis">Canada</a> as a model for success, where government regulation has been more effective in curbing illegal sales and maintaining price stability.
Cover image made with AI

Cannabis

Retail Sales

UK Could Net Up To $12.6B Annually From Cannabis Legalization

Wells Fargo analyst Matthew Akers maintains Boeing (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) with a Underweight and lowers the price target from $119 to $110.

Price Target

Analyst Ratings

Wells Fargo Maintains Underweight on Boeing, Lowers Price Target to $110

iShares MSCI Israel Capped Investable Market Index Fund

ISRA

Pentagon Says U.S. Fully Supports Israel's Right To Defend Itself After Iran's "Significant" Attack

Wells Fargo analyst Matthew Akers maintains Booz Allen Hamilton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAH#NYSE">BAH</a>) with a Overweight and raises the price target from $165 to $185.

Wells Fargo Maintains Overweight on Booz Allen Hamilton, Raises Price Target to $185

Macro Notification

General

U.S. State Department Says Israel Has The Right To Defend Itself, But We Will Coordinate With Them On What Any Response Looks Like

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock&#39;s price, but are they really important?
Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let&#39;s see what these Wall Street heavyweights think about Arista Networks (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/anet#NYSE">ANET</a>).
Arista Networks currently has an average brokerage recommendation of 1.67, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 23 brokerage firms. An ABR of 1.67 approximates between Strong Buy and Buy.
Of the 23 recommendations that derive the current ABR, 15 are Strong Buy and two are Buy. Strong Buy and Buy respectively account for 65.2% and 8.7% of all recommendations.
<h2>Brokerage Recommendation Trends for ANET</h2>
<img alt="Broker Rating Breakdown Chart for ANET" class="chart" src="https://staticx-tuner.zacks.com/images/yesopchart/brokerage_bar/ANET_10012024.png" style="width:100%" title="" /> 
While the ABR calls for buying Arista Networks, it may not be wise to make an investment decision solely based on this information. Several studies have shown limited to no success of brokerage recommendations in guiding investors to pick stocks with the best price increase potential.
Do you wonder why? As a result of the vested interest of brokerage firms in a stock they cover, their analysts tend to rate it with a strong positive bias. According to our research, brokerage firms assign five &quot;Strong Buy&quot; recommendations for every &quot;Strong Sell&quot; recommendation.
In other words, their interests aren&#39;t always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock&#39;s price movement.
Zacks Rank, our proprietary stock rating tool with an impressive externally audited track record, categorizes stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), and is an effective indicator of a stock&#39;s price performance in the near future. Therefore, using the ABR to validate the Zacks Rank could be an efficient way of making a profitable investment decision.
<h2>ABR Should Not Be Confused With Zacks Rank</h2>
Although both Zacks Rank and ABR are displayed in a range of 1-5, they are different measures altogether.
The ABR is calculated solely based on brokerage recommendations and is typically displayed with decimals (example: 1.28). In contrast, the Zacks Rank is a quantitative model allowing investors to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.
It has been and continues to be the case that analysts employed by brokerage firms are overly optimistic with their recommendations. Because of their employers&#39; vested interests, these analysts issue more favorable ratings than their research would support, misguiding investors far more often than helping them.
In contrast, the Zacks Rank is driven by earnings estimate revisions. And near-term stock price movements are strongly correlated with trends in earnings estimate revisions, according to empirical research.
In addition, the different Zacks Rank grades are applied proportionately to all stocks for which brokerage analysts provide current-year earnings estimates. In other words, this tool always maintains a balance among its five ranks.
There is also a key difference between the ABR and Zacks Rank when it comes to freshness. When you look at the ABR, it may not be up-to-date. Nonetheless, since brokerage analysts constantly revise their earnings estimates to reflect changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in predicting future stock prices.
<h2>Is ANET a Good Investment?</h2>
In terms of earnings estimate revisions for Arista Networks, the Zacks Consensus Estimate for the current year has remained unchanged over the past month at $8.24.
Analysts&#39; steady views regarding the company&#39;s earnings prospects, as indicated by an unchanged consensus estimate, could be a legitimate reason for the stock to perform in line with the broader market in the near term.
The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Arista Networks.
It may therefore be prudent to be a little cautious with the Buy-equivalent ABR for Arista Networks.
<a href="https://www.zacks.com/stock/news/2343971/wall-street-analysts-think-arista-networks-anet-is-a-good-investment-is-it?cid=CS-BENZ-FT-fundamental_analysis|average_broker_rating-2343971">To read this article on Zacks.com click here.</a>

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Large Cap

Markets

Trading Ideas

ANET

Wall Street Analysts Think Arista Networks Is a Good Investment: Is It?

AMZN

Amazon Pharmacy Customers Can Have Their Medications Pre-Sorted Into Packets Using New Pillpack Feature

Wells Fargo analyst Matthew Akers maintains CACI International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CACI#NYSE">CACI</a>) with a Overweight and raises the price target from $525 to $577.

CACI

Wells Fargo Maintains Overweight on CACI International, Raises Price Target to $577

Pentagon Says We Condemn These Reckless Attacks By Iran And Call On Iran To Halt Further Attacks, Including By Proxy Forces; U.S. Navy Destroyers Fired About A Dozen Interceptors Against Iranian Missiles Headed To Israel; Not Aware Of Any Warning By Iran Ahead Of Attack On Israel; No Other U.S. Military Assets, Beyond The Navy Destroyers, Helped Shoot Down Iranian Missiles, All Of Which Were Fired From Inside Iran

Wells Fargo analyst Matthew Akers maintains Leidos Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LDOS#NYSE">LDOS</a>) with a Overweight and raises the price target from $172 to $183.

LDOS

Wells Fargo Maintains Overweight on Leidos Holdings, Raises Price Target to $183

Many investors are going full macro mode right now, focusing too much on today&#39;s data and not on tomorrow&#39;s implications. The U.S. election is coming up in a little over a month, a new earnings season is underway, and lots of economic data is pending for the Federal Reserve (the Fed) to consider further interest rate cuts before 2024 is over.
So far, the path is set for more rate cuts, with other countries starting to follow this same view, China being the latest to cut by 50 basis points last week. Some are still pointing to economic data like unemployment and contracting manufacturing PMI index readings for the past 22 months to quote a &lsquo;hard landing,&#39; but sticking to this view might keep these investors 100% bearish and potentially miss out on some of the potential rallies that can still be had.
One potential rally can be found in shares of Salesforce Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/crm#NYSE">CRM</a>), especially now that Wall Street has reiterated a new boost on the stock&#39;s price target, pointing to further upside in the coming quarters. The reason behind the boost is exactly what retail investors should focus on in their portfolio strategy, and it has to do with the economy and business model for cloud businesses in the technology sector.
<h2>What If the Bears Are Right? What Happens to Salesforce Stock?</h2>
A bearish scenario for the S&amp;P 500 doesn&#39;t have to mean a bearish scenario for all stocks. If the bearish scenario plays out, unemployment might keep heading higher, and businesses will have to look for alternatives in hiring and managing their workforce today.
This is where Salesforce stock comes into play. As a cloud-based platform, Salesforce can streamline and improve most business processes in today&#39;s economy. This means cost savings and increased efficiency for its customers. So, if unemployment is on the rise in this bearish scenario, businesses can keep expensive employees on payroll or adjust for the slowdown by implementing technology.
Salesforce stock bulls can now understand where new demand will come from, but the rest of the business model is what will deliver the stability and predictability that helped Wall Street analysts land a higher price target. Cloud service businesses like Salesforce, Adobe Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/adbe#NASDAQ">ADBE</a>), and Workday Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wday#NASDAQ">WDAY</a>) all operate under a subscription model, which can be critical during a hard landing.
Why? Subscriptions provide more predictable and stable cash flows for the companies that receive them, making projections and valuations easier to calculate despite any uncertainty and volatility in the overall market. That&#39;s for the bearish side, but what if the bulls are right and the market actually does well?
Salesforce also has a bullish scenario at play: Businesses need to use the platform to manage the higher business activity if the economy does manage to pull a &lsquo;soft landing&#39;. Whichever way investors look at Salesforce stock, there is a path for it to move higher, which is why Wall Street analysts felt comfortable boosting it.
<h2>Where Analysts See Salesforce Heading Next</h2>
The consensus price target for Salesforce stock is now set at $308 a share, which calls for a net 11.3% upside from where the stock trades today. Those at Wedbush stand out from the pack, with a recent price boost as recently as last week, setting the valuation up to $325 a share, calling for a much higher 17.5% net upside from today&#39;s price.
Wedbush is not alone, however, as analysts at Piper Sandler agreed on a $325 price target for Salesforce stock last week. This shows investors that the rest of Wall Street sentiment is now shifting to the bullish end for this company, and both economic scenarios seem to back the business model&#39;s predictability and stability for the future.
Even though Salesforce stock trades at 86% of its 52-week high today, there is still much more upside aside from current analyst upgrades. Compared to the rest of the computer sector, Salesforce offers a discount based on several valuation multiples.
On a price-to-earnings (P/E) basis, Salesforce trades at a 49.8x multiple. This current valuation places Salesforce at a 78.5% discount to the computer sector&#39;s average P/E valuation of 232.7x today, creating a path for a potential new 52-week high for Salesforce.
On a price-to-book (P/B) basis, Salesforce trades at a 4.6x valuation compared to the computer sector&#39;s valuation of 7.2x. This shows investors how Salesforce stock could have more room to move higher despite already trading near its 52-week high. The bullishness in the face of this discount didn&#39;t stop on Wall Street, however.
Those at Centaurus Financial decided to boost their holdings in Salesforce stock by 23.4% as recently as September 2024, bringing their net investment up to $3.2 million today. Even the Healthcare of Ontario Pension Plan doubled its holding in September, bringing its net allocation up to $48.1 million to show investors another bullish angle for Salesforce stock.
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/salesforce-stock-gets-a-wall-street-boost-cloud-businesses-back/">Salesforce Stock Gets a Wall Street Boost, Cloud Businesses Back?</a>&quot; first appeared on MarketBeat.

Tech

ADBE

WDAY

Salesforce Stock Gets a Wall Street Boost, Cloud Businesses Back?

The Last Prisoner Project (LPP) marked a milestone in its relentless fight for justice last weekend at Sony Hall in New York City. 
To celebrate the occasion, LPP hosted the Journey to Justice Gala, which brought together a diverse group of advocates, former prisoners and industry leaders.
The gala, an emotional and impactful evening, showcased the human stories behind the fight for cannabis reform. The night's proceeds will support LPP's legal, policy and reentry services, ensuring the continuation of these vital programs. Each table at the gala was named after an LPP constituent. Guests were provided with badges that told the story of those whose lives have been upended by harsh cannabis laws. QR codes on the badges directed attendees to resources and donation platforms, further driving home the urgency of the cause.
<h3 class="wp-block-heading">Advocacy At The Forefront</h3>
Stephanie Shepard, LPP's director of advocacy and a former prisoner herself, opened the event with a deeply personal reflection on her journey. "I was convicted in New York, so it's full circle to be here supporting this cause, when I was supported by so many people in this room," Shepard said, highlighting the powerful community that LPP has built over the years.
Sarah Gersten, LPP's executive director and co-founding member, emphasized the profound impact of the organization's Cannabis Justice Initiative (CJI). "I'm so proud to say that our CJI has represented over 300 clients and reduced over 100 years of prison time for our constituents," Gersten said. Her words resonated even more as she introduced Andy Cox, one of the initiative's success stories. Cox, who had been serving a life sentence for cannabis, was released early thanks to LPP's advocacy. In a moving speech, Cox shared, "If it weren't for LPP and Goodwin, I would still be sitting in a dark and lonely federal prison cell."
<h3 class="wp-block-heading">Free And Still Fighting</h3>
The event also highlighted the importance of public support in driving change. NFL Hall of Famer Calvin "Megatron" Johnson introduced Michael Thompson of Michigan who spent more than two decades behind bars for a nonviolent cannabis sale. National support and LPP's advocacy led to Thompson's clemency in 2021. "They are true fighters. All you gotta do is care, all you gotta do is care," Thompson said passionately.
LPP's co-founding member Mary Bailey took the stage to honor Richard DeLisi, who served 32 years for a nonviolent cannabis offense. DeLisi's story is a symbol of the devastation caused by unjust cannabis laws. Since his release in 2020, DeLisi and his family have been vocal advocates for reform, using their cannabis brand, DeLisioso, to raise funds for LPP and other organizations. Bailey reflected on witnessing DeLisi's reunion with his family. "I will never forget the feeling of watching a family reunite after 32 years."
<h3 class="wp-block-heading">A Call For Clemency And Reform</h3>
Among the event&#8217;s notable moments was a message from Maryland Governor Wes Moore, who praised LPP's &#8216;Pen to Right History&#8217; campaign. The initiative challenges leaders across the U.S. to follow his example by signing executive clemency orders to release individuals incarcerated for cannabis. JoJo Simmons also presented an award to Richeda Sinclair for her advocacy work on behalf of her father, Ricardo Ashmeade, who is currently serving a 22-year sentence for a cannabis offense.
The emotional weight of the evening peaked when LPP's advocacy associate Donte West honored his former prison bunkmate, Kyle Page. Their stories of incarceration and subsequent advocacy reflect the resilience and determination of those still fighting for freedom.
<h3 class="wp-block-heading">A Night Of Unforgettable Performances</h3>
In addition to the inspiring speeches, the gala featured performances that energized the room. Damian and Stephen Marley took the stage for an acoustic medley, including their hit song &#8220;Medication,&#8221; followed by a tribute to their father, Bob Marley, with &#8220;Get Up, Stand Up.&#8221; M-1 and Umi of dead prez performed their iconic track &#8220;Hip-Hop&#8221; and Keith Shocklee of Public Enemy closed the night with a DJ set that kept the crowd dancing.
<h3 class="wp-block-heading">Importance Of Continued Support</h3>
The night was made possible through the generous support of sponsors, including HBI International, makers of RAW rolling papers, which have donated $200,000 to LPP's reentry grant program. Their contributions, along with those of Dutchie, Goodwin, Wana Brand Foundation and others, have enabled LPP to continue its mission to free cannabis prisoners and help them rebuild their lives.
For those unable to attend, LPP continues its work through initiatives like the #Countdown4Clemency campaign, pushing for President Biden to grant clemency to those still imprisoned for cannabis offenses. More information can be found on LPP's website.
Photo Credit: Johnny Nunez/Getty Images for Last Prisoner Project
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

A Gala For Cannabis Justice: Inside The Last Prisoner Project's NYC Event, Featuring Damian And Stephen Marley

White House Says Important That Both Parties In Port Workers' Strike Come To Table And Negotiate In Good Faith; Only Fair That Port Workers See Meaningful Increase In Their Wages; Time For USMX To Negotiate A Fair Contract

Stephens initiated coverage on Thermo Fisher Scientific (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMO#NYSE">TMO</a>) and cited the company as an industry leader in the broader life science tools/services/ diagnostics industry, with fiscal year 2023 sales of almost $42.9 billion.
The analyst highlights Thermo Fisher&#8217;s extensive product and service portfolio and its significant revenue base. Over the past decade, the company has expanded its presence in the biopharma sector through strategic mergers and acquisitions, enhancing its market exposure.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39930516/thermo-fisher-q2-earnings-marginal-revenue-dip-completes-olink-acquisition-lifts-annual-profit-outl" rel="noreferrer noopener">Thermo Fisher Q2 Earnings: Marginal Revenue Dip, Completes Olink Acquisition, Lifts Annual Profit Outlook</a>.
Thermo Fisher has around 18% share of the estimated total addressable market at more than $235 billion.
Stephens says disciplined M&amp;A strategy and organic growth opportunities have the potential to support a long runway for long-term growth and margin expansion.
Thermo Fisher&#8217;s pharma services assets, especially its contract development and manufacturing organization (CDMO), are well positioned in today&#8217;s market. The company is set to capitalize on growth opportunities in the injectables sector, driven by GLP-1 demand, and in biologics drug substance production, supported by the BIOSECURE bill.
Stephens analyst writes, &#8220;After a difficult couple of years for the broader LS tools complex, 2025 should be a better year, but we have tried to assume a gradual recovery in our estimates.&#8221;
Stephens initiated coverage with an Overweight rating and a <a target="_blank" href="https://www.benzinga.com/quote/TMO/analyst-ratings" rel="noreferrer noopener">price target of $680</a>.
The company&#8217;s Practical Process Improvement (PPI) system fosters ongoing enhancements and plays a crucial role in realizing synergies from acquisitions.
However, pursuing larger mergers and acquisitions may face greater challenges due to Thermo Fisher&#8217;s large scale and the heightened scrutiny of an active Federal Trade Commission.
Despite this, Thermo Fisher&#8217;s diverse portfolio offers ample organic growth potential, and there are still M&amp;A opportunities, particularly in bioprocessing, cell and gene therapy markets, and related service areas, per the analyst.
Price Action: TMO stock is down 0.83% at $613.45 at last check Tuesday.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/10/41124391/qualcomm-partners-with-stmicroelectronics-to-boost-ai-powered-iot-connectivity" target="_blank" rel="noreferrer noopener">Qualcomm Partners With STMicroelectronics To Boost AI-Powered IoT Connectivity</a>.</li>
</ul>

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Industry Leader Thermo Fisher's Contract Services Positioned For Growth Amid Popular Demand For GLP-1 Weight Loss Drugs, Analyst Initiates With Long-Term Growth Potential

McCormick &amp; Company, Incorporated (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mkc#NYSE">MKC</a>) reported solid third-quarter fiscal 2024 results, wherein the top and bottom lines beat the Zacks Consensus Estimate, and earnings increased year over year.
The company achieved a significant milestone by delivering overall global positive volume growth in the quarter, indicating improving trends across both business segments. The momentum is expected to carry into the fourth quarter. In the Consumer segment, MKC recorded solid volume growth despite facing a challenging macroeconomic environment in China. Meanwhile, in the Flavor Solutions segment, sequential volume improvements were realized, driven by strong growth in Branded Foodservice.
Management continues to bolster its position across major markets and core categories by focusing on growth levers such as brand marketing, product and packaging innovation, category management and proprietary technology. The company expects its cost-saving initiatives to help fund future investments and drive operating margin expansion. The year-to-date results, combined with strategic growth plans, reinforce confidence in achieving the mid-to-high range of projected sales growth for 2024.
<div class="chart_embed">
<h3>McCormick &amp; Company, Incorporated Price, Consensus and EPS Surprise 
<img alt="McCormick &amp; Company, Incorporated Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/ae/1727790166.png" style="height:265px; width:576px" title="" /></h3>
McCormick &amp; Company, Incorporated price-consensus-eps-surprise-chart | McCormick &amp; Company, Incorporated Quote
</div>
<h2>MKC&#39;s Quarterly Performance: Key Metrics and Insights</h2>
Adjusted earnings of 83 cents per share increased from 65 cents reported in the year-ago quarter. The metric came above the Zacks Consensus Estimate of 68 cents per share, representing a surprise of 22.1%. The year-over-year upside can be attributed to greater operating profit, the timing of a specific tax benefit and increased income from unconsolidated operations, fueled by robust performance from McCormick de Mexico, the company&#39;s largest joint venture.
This global leader in flavor generated sales of $1,679.8 million, flat year over year, including minimum impacts from currency movements. Impacts from the company&#39;s strategic decision to divest its canning business were offset by a 1% increase in volume backed by the Consumer segment, somewhat negated by pricing. The top line exceeded the Zacks Consensus Estimate of $1,664 million.
McCormick&#39;s gross profit margin expanded 170 basis points. The upside can be attributed to improved mix and cost savings from the Comprehensive Continuous Improvement&nbsp;program.
The adjusted operating income came in at $288 million, up 15% year over year, reflecting gross margin expansion and reduced SG&amp;A expenses.
<h2>Decoding MKC&#39;s Segmental Performance</h2>
Consumer: Sales remained flat year over year at $937.4 million, with a negligible impact on currency movements. Sales were hurt by a 1% decline from pricing actions, offset by 1% volume growth. Volume growth in the Americas and the Europe, Middle East, and Africa (&quot;EMEA&quot;) regions was partly negated by declines in the Asia-Pacific region (APAC). Sales remained flat year over year in the Americas while moving up 3% in the EMEA region. Segment sales dipped 1% in the APAC.
Flavor Solutions: Sales in the segment inched down 1% to $742.4 million. On a constant-currency basis, sales were flat year over year as a 1% rise in pricing was countered by the company&#39;s strategic move to sell off its canning business. Flavor Solutions&#39; sales in the Americas grew 2%. Flavor Solutions&#39; sales in the EMEA fell by 8%. Sales in the APAC market fell 1% year over year.
<h2>MKC&#39;s Financial Health Snapshot</h2>
McCormick exited the quarter with cash and cash equivalents of $200.8 million, long-term debt of $3,343.1 million and total shareholders&#39; equity of $5,451 million. In the nine months ended Aug. 31, 2024, net cash provided by operating activities was $463.2 million.
<h2>What to Expect From MKC in 2024?</h2>
For fiscal 2024, McCormick is focused on strengthening its volume trends and prioritizing investments to fuel profits. The company&#39;s CCI and Global Operating Effectiveness programs are driving growth investments and operating margin expansion. Management anticipates currency movements to have a minimal impact on 2024 results.
For 2024, management expects sales to range between a 1% decline and 1% growth, including minimal currency impacts. The company anticipates witnessing a favorable impact of pricing actions undertaken in the prior year. Volume trends are likely to improve due to solid brands and targeted investments. However, its decision to discontinue the low-margin business and sell the canning business is likely to put some pressure on volume during 2024.
Management expects adjusted operating income to grow 4-6%, including minimal currency impacts. This is likely to be driven by gross margin expansion, somewhat offset by a major rise in brand marketing investments.
Management envisions 2024 adjusted EPS in the band of $2.85-$2.90, which suggests a 5-7% increase from the year-ago period, including minimal currency impacts. On a GAAP basis, McCormick projects 2024 earnings in the range of $2.81- $2.86 per share compared with the year-ago period figure of $2.52.
This Zacks Rank #2 (Buy) stock has rallied 17.2% in the past three months compared with the industry&#39;s growth of 8.8%.
<h2>Other Top Staple Stocks</h2>
Here, we have highlighted three other top-ranked consumer staple stocks &mdash; The Chef&#39;s Warehouse (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/chef#NASDAQ">CHEF</a>), Flowers Foods (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/flo#NYSE">FLO</a>) and Kimberly-Clark Corporation&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kmb#NYSE">KMB</a>).
The Chef&#39;s Warehouse, which engages in the distribution of specialty food products, currently sports a Zacks Rank #1 (Strong Buy).
CHEF has a trailing four-quarter earnings surprise of 33.7%, on average. The Zacks Consensus Estimate for The Chef&#39;s Warehouse&#39;s current fiscal year sales and earnings indicates growth of 9.7% and 12.6%, respectively, from the year-ago reported numbers.
Flowers Foods, one of the largest producers of packaged bakery foods in the United States, currently carries a Zacks Rank #2. FLO has a trailing four-quarter earnings surprise of 1.9%, on average.
The Zacks Consensus Estimate for Flowers Foods&#39; current financial-year sales and earnings implies growth of around 1% and 5%, respectively, from the year-ago reported numbers.
Kimberly-Clark is a personal care and consumer tissue product company that currently carries a Zacks Rank of 2.
The Zacks Consensus Estimate for Kimberly-Clark&#39;s current fiscal-year earnings indicates an advancement of 10.4% from the year-ago reported figure. KMB has a trailing four-quarter earnings surprise of 12.6%, on average.
<a href="https://www.zacks.com/stock/news/2344136/mccormick-q3-earnings-top-estimates-mkc-volumes-improve-y-y?cid=CS-BENZ-FT-analyst_blog|earnings_article-2344136">To read this article on Zacks.com click here.</a>

Earnings Beats

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McCormick Q3 Earnings Top Estimates, MKC Volumes Improve Y/Y

Square Enix Holdings Co Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SQNXF#OTC">SQNXF</a>) has confirmed its intention to release Final Fantasy 16 on Xbox.
Naoki "Yoshi-P" Yoshida, the producer behind both Final Fantasy 14 and Final Fantasy 16, addressed the situation during an interview <a href="https://www.si.com/videogames/features/final-fantasy-14-naoki-yoshida-interview">with </a>Video Games.
See Also: <a href="https://www.benzinga.com/general/gaming/24/08/40448062/square-enix-announces-final-fantasy-16-pc-release-date-and-pricing">Square Enix Announces Final Fantasy 16 PC Release Date And Pricing</a>
"Of course we did announce the PC version of the game, so looking towards the Xbox version, we do want to release it on Xbox," Yoshida stated. 
"But when it comes to the specifics such as when the game would be available and such, we are not in a position to be able to share anything. But of course, I want to say that it's not as if there's zero hope, and we very much do want to achieve that. So players should not give up in terms of their hopes," he added.
<h3 class="wp-block-heading">From Exclusive To Multi-Platform</h3>
Launched in June 2023 as a PlayStation 5 exclusive, Final Fantasy 16 has since expanded its availability, with a PC version released last month. 
The game&#8217;s transition to multi-platform is part of Square Enix's broader strategy to adapt to a shifting gaming landscape. Yoshida&#8217;s comments highlight a growing acknowledgment within the company of the importance of accessibility across various platforms to meet the diverse preferences of players.
Despite the excitement surrounding Final Fantasy 16, Square Enix has expressed concern over its <a href="https://www.benzinga.com/markets/asia/23/09/34589295/can-square-enix-recover-2b-value-drop-after-final-fantasy-16-release">commercial performance. </a>
In a financial briefing held in May but disclosed in September, Takashi Kiryu, the company's president and representative director, revealed: &#8220;In the HD Games sub-segment, we released multiple new titles, including major titles such as Final Fantasy 16 and Final Fantasy 7 Rebirth, but profits unfortunately did not meet our expectations.&#8221;
<h3 class="wp-block-heading">Adapting To Market Dynamics</h3>
In light of these financial challenges, Square Enix is restructuring its business model to enhance profitability. This includes a new multi-platform strategy that not only encompasses PC and Xbox but also aims for future compatibility with the next Nintendo ADR (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NTDOY#OTC">NTDOY</a>) console. 
However, as part of this reworking, the company has canceled several games, signaling a more selective approach to its development pipeline.
Last month, Yoshida suggested it might be time for fresh leadership to guide the franchise into the future, hinting at the potential for a younger generation to take the reins for Final Fantasy 17.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/gaming/24/09/40925388/why-final-fantasy-16-7-rebirth-didnt-hit-profit-targets-according-to-square-enix">Why Final Fantasy 16, 7 Rebirth Didn&#8217;t Hit Profit Targets, According To Square Enix</a></li>
</ul>
Photo: Shutterstock

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SQNXF

Final Fantasy 16 On Xbox? Square Enix Hints At A Possible Release

Wells Fargo analyst Roger Read maintains APA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APA#NASDAQ">APA</a>) with a Overweight and lowers the price target from $49 to $47.

Wells Fargo Maintains Overweight on APA, Lowers Price Target to $47

Wells Fargo analyst Roger Read maintains Chesapeake Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>) with a Equal-Weight and raises the price target from $77 to $83.

Wells Fargo Maintains Equal-Weight on Chesapeake Energy, Raises Price Target to $83

Sui's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">SUI</a>) price has decreased 4.04% over the past 24 hours to $1.75. This is contrary to the coins performance over the past week where it has experienced an up-trend of 7.0%, moving from $1.67 to its current price.
The chart below compares the price movement and volatility for Sui over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
<img src="https://www.benzinga.com/files/images/story/2024/1727809423_0.png" alt="price_chart" />
Sui's trading volume has climbed 45.0% over the past week, moving in tandem, directionally, with the overall circulating supply of the coin, which has increased 3.08%. This brings the circulating supply to 2.76 billion, which makes up an estimated 27.64% of its max supply of 10.00 billion. According to our data, the current market cap ranking for SUI is #25 at $4.83 billion.
<img src="https://www.benzinga.com/files/images/story/2024/1727809423_1.png" alt="supply_and_vol" />
<a href="https://www.coingecko.com/en/api">Powered by CoinGecko API</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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Cryptocurrency Sui Decreases More Than 4% Within 24 hours

Singular Genomics announces 1-for-30 reverse stock split

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Singular Genomics Sys (NASDAQ:<a href="https://investorplace.com/stock-quotes/omic-stock-quote/">OMIC</a>) just reported results for the second quarter of 2023.<ul><li>Singular Genomics Sys reported earnings per share of -$10.50. This was above the analyst estimate for EPS of -$11.10.</li><li>The company reported revenue of $505,000.</li><li>This was 56.09% worse than the analyst estimate for revenue of $1.15 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/earning-results/2024/06/omic-stock-earnings-singular-genomics-sys-for-q2-of-2023/">OMIC Stock Earnings: Singular Genomics Sys Beats EPS, Misses Revenue for Q2 2023</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

OMIC Stock Earnings: Singular Genomics Sys Beats EPS, Misses Revenue for Q2 2023

Singular Genomics regains compliance with Nasdaq

Singular Genomics Systems GAAP EPS of -$8.57 beats by $0.29, revenue of $0.7M beats by $0.29M

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Singular Genomics Sys (NASDAQ:<a href="https://investorplace.com/stock-quotes/omic-stock-quote/">OMIC</a>) just reported results for the second quarter of 2024.<ul><li>Singular Genomics Sys reported earnings per share of -$8.57. This was above the analyst estimate for EPS of -$8.88.</li><li>The company reported revenue of $737,000.</li><li>This was 84.25% better than the analyst estimate for revenue of $400,000.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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OMIC Stock Earnings: Singular Genomics Sys Beats EPS, Beats Revenue for Q2 2024

Singular Genomics Systems, Inc. 2024 Q2 - Results - Earnings Call Presentation

Singular Genomics Systems, Inc. (OMIC) Q2 2024 Earnings Call Transcript

Singular Genomics receives acquisition proposal from Deerfield

Singular Genomics jumps after Tang's Concentra offers $12 a share

Deals this week: Smartsheet, AT&T, BP, Cleveland-Cliffs, Vistra and more

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Press Releases

Singular Genomics Reports Recent Highlights and Fourth Quarter and Full Year 2023 Financial Results

Singular Genomics to Report First Quarter 2024 Financial Results on May 14, 2024

Singular Genomics Reports Recent Highlights and First Quarter 2024 Financial Results

Singular Genomics to Present at the Goldman Sachs Global Healthcare Conference

Singular Genomics Announces 1-for-30 Reverse Stock Split

Singular Genomics Regains Compliance with Nasdaq Minimum Bid Price Requirement

Singular Genomics to Report Second Quarter 2024 Financial Results on August 13, 2024

Singular Genomics Reports Recent Highlights and Second Quarter 2024 Financial Results

Singular Genomics Receives Non-Binding Acquisition Proposal from Deerfield

Singular Genomics Receives Non-Binding Acquisition Proposal from Concentra Biosciences and Tang Capital

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