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B of A Securities analyst Andrew Didora maintains Royal Caribbean Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>) with a Neutral and raises the price target from $205 to $210.

News

Price Target

Analyst Ratings

B of A Securities Maintains Neutral on Royal Caribbean Gr, Raises Price Target to $210

Macro Economic Events

Macro Notification

Econ #s

Economics

General

ADP Nonfarm Employment Change (Oct) +233K vs + 110K Est.

Citigroup analyst Ronald Josey maintains Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) with a Buy and raises the price target from $212 to $216.

GOOG

GOOGL

Citigroup Maintains Buy on Alphabet, Raises Price Target to $216

Reddit Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) experienced a significant boost in its stock value, rising by 21.56% in pre-market trading on Wednesday, as per <a href="https://pro.benzinga.com">Benzinga Pro</a>. This increase came after the company released its third-quarter financial results, which surpassed analyst expectations.
What Happened: Reddit reported earnings of 16 cents per share, outperforming the anticipated loss of 8 cents. The company&#8217;s revenue reached $348.4 million, exceeding the consensus estimate of $311.42 million. 
Reddit&#8217;s net income was $29.9 million, a notable improvement from a net loss of $7.4 million in the prior year. Adjusted EBITDA was $94.1 million, compared to a loss of $6.9 million previously.
Why It Matters: Most of Reddit&#8217;s revenue stemmed from advertising, totaling $315.1 million. Additional income of $33.2 million was generated through data licensing deals, with Google&#8217;s parent Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)and OpenAI utilizing Reddit&#8217;s content for AI model training.
See Also: <a href="https://www.benzinga.com/markets/equities/24/10/41568486/mark-cuban-highlights-trumps-potential-to-ruin-christmas-but-he-might-also-end-up-spoiling-the-p?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Highlights Trump&#8217;s Potential To Ruin Christmas But He Might Also End Up Spoiling The Party For</a>
Reddit&#8217;s recent financial success is closely linked to strategic partnerships and revenue diversification efforts. Earlier this year, Reddit entered a <a href="https://www.benzinga.com/news/24/02/37254800/reddit-and-google-team-up-in-60-million-deal-to-train-search-giants-ai-models-report">content licensing agreement</a> with Google, valued at $60 million annually. This deal allows Google to use Reddit&#8217;s content for AI model training, providing a new revenue stream for Reddit.
Additionally, Reddit has formed a <a href="https://www.benzinga.com/news/24/05/38885171/reddit-stock-pops-on-partnership-with-openai-the-details">partnership with OpenAI</a>, which enhances its AI capabilities and offers new features to Reddit users. This collaboration allows OpenAI to access Reddit&#8217;s Data API, improving the understanding and display of Reddit content. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41590577/bitcoin-breaks-70k-ethereum-and-dogecoin-rise-amid-stock-rally-ahead-of-mag-7-earnings-ana?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Breaks $70K, Ethereum and Dogecoin Rise Amid Stock Rally Ahead Of &#8216;Mag 7&#8217; Earnings: Analyst Says</a></li>
</ul>
Photo via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Pre-Market Outlook

RDDT

Reddit Shares Surge Over 21% In Wednesday Premarket: What's Going On?

NASA is conducting a visiting vehicle study in coordination with SpaceX to gauge the possible impact of deploying <a href="https://www.benzinga.com/topic/starlink">Starlink satellites</a> closer to Earth and below the International Space Station on travel to and from the station, the space agency wrote to the Federal Communication Commission (FCC) on Tuesday.
What Happened: The study will assess the impact of deploying Starlink satellites closer to Earth upon transport to and from the ISS and ensure that the right number of satellites are deployed at a lower altitude. 
However, NASA also expressed its support for deploying 400 Starlink satellites initially closer to Earth. 
&#8220;Given the progress made and the continued positive collaboration between SpaceX and NASA, NASA supports FCC action that would allow SpaceX to initially operate 400 satellites continuously in the 300 km orbital shells,&#8221; NASA wrote in its letter.
&#8220;Upon the completion of the study, NASA will recommend any changes to the number of satellites it endorses at a lowered altitude.&#8221;
Why It Matters: Starlink is a segment of SpaceX that provides broadband to customers around the globe with the help of satellites in low-Earth orbit. 
SpaceX <a href="https://www.benzinga.com/news/24/10/41324450/elon-musk-says-spacexs-next-generation-starlink-satellites-will-be-so-big-that-only-starship-can-lau">requested the FCC for authority to lower the altitude</a> of its next-generation Starlink satellites, bringing them closer to Earth, earlier this month. Reduced altitude, SpaceX CEO Elon Musk then said, will allow for reduced latency. 
"The next generation Starlink satellites, which are so big that only Starship can launch them, will allow for a 10X increase in bandwidth and, with the reduced altitude, faster latency," <a href="https://www.benzinga.com/news/24/10/41449080/elon-musk-says-starlink-will-improve-significantly-with-multi-gigabit-bandwidth-after-spacexs-starsh">Musk wrote</a> on social media platform X. 
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/news/24/10/41617327/lucid-to-start-taking-orders-for-gravity-suv-next-week-but-only-for-premium-variant-priced-at-about" target="_blank" rel="noreferrer noopener">Lucid To Start Taking Orders for Gravity SUV Next Week, But Only For Premium Variant Priced At About $95,000</a></li>
</ul>
Photo courtesy: Wikimedia

SPACE

Tech

NASA Endorses Initial Deployment Of 400 Starlink Satellites Closer To Earth, Will Conduct Study To Gauge Impact On Travel To And From ISS

Milestone Achievement Supports Planned FDA Submission of DeepView AI&#xAE;-Burn in 2025
DALLAS, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Spectral AI, Inc. (NASDAQ:<a href="https://www.benzinga.com/stock/MDAI#NASDAQ">MDAI</a>) ("Spectral AI" or the "Company"), an artificial intelligence (AI) company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, today announced that the final group of burn center patients in the Company's U.S. Burn Pivotal Study have successfully completed their clinical visits.
One of the largest domestic burn center studies ever conducted, the U.S. Burn Pivotal Study is expected to be the final clinical trial before the Company seeks U.S. Food and Drug Administration ("FDA") approval of its DeepView&#xAE; System for burn indication ("DeepView AI&#xAE;-Burn") in the first half of 2025. DeepView AI&#xAE;-Burn is a non-invasive, predictive medical device designed to distinguish between healing and non-healing tissue in order to provide clinicians with an immediate and binary assessment of a burn wound's healing potential.
The Company expects to report topline results from this study in December 2024.

MDAI

Spectral AI Announces Last Patient Out In U.S. Burn Pivotal Study At Burn Centers; Milestone Achievement Supports Planned FDA Submission Of DeepView AI-Burn In 2025

DATS

DatChat's Dragon Interact Subsidiary Acquires RPM Interactive In Consideration For The Issuance Of 3.5M Shares Of Common Stock

<ul>
<li>Revenue: $24.9 billion to $25.5 billion</li>
<li>GAAP EPS: $1.77 to $1.89</li>
<li>Adjusted EPS: $2.39 to $2.51</li>
</ul>

Guidance

FLEX

Flex Revised FY25 Outlook For Revenues To $24.9B-$25.5B (From $25.4B-$26.4B) Vs. $25.78B Estimate, Adjusted EPS To $2.39-$2.51 (From $2.30-$2.50) Vs. $2.41 Estimate

B of A Securities analyst Julien Dumoulin-Smith maintains First Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) with a Buy and lowers the price target from $321 to $269.

FSLR

B of A Securities Maintains Buy on First Solar, Lowers Price Target to $269

Needham analyst James Ricchiuti maintains CECO Environmental (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CECO#NASDAQ">CECO</a>) with a Buy and lowers the price target from $35 to $33.

CECO

Needham Maintains Buy on CECO Environmental, Lowers Price Target to $33

Avnet Sees Q2 Sales Of $5.40B-$5.70B Vs. $5.5B Estimate; Projects Diluted EPS Of $0.80-$0.90 Vs. $1.01 Estimate

Barclays analyst Ross Sandler maintains Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) with a Overweight and raises the price target from $200 to $220.

Barclays Maintains Overweight on Alphabet, Raises Price Target to $220

GDEV Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GDEV#NASDAQ">GDEV</a>), an international gaming and entertainment company ("GDEV" or the "Company"), announces changes to its Board of Directors and executive leadership team as part of its ongoing strategy to enhance operational efficiency and support its global growth ambitions.
Olga Loskutova, who has served as an Independent Director on GDEV's Board since 2022, will be stepping down from her position on the Board of Directors to assume the role of Chief Operating Officer (COO) of GDEV. Olga brings with her a wealth of experience in global business and general management, positioning her to provide management, leadership, and vision to guide GDEV Inc. towards meeting both its short-term and long-term strategic goals.
Following Olga's transition, GDEV's Board will consist of six members, with four remaining independent directors. In addition, Olga's seat on the Nomination and Compensation Committee, on which she previously served, has been assumed by current independent director Tal Shoham.

Management

GDEV

GDEV Announces Olga Loskutova Will Be Stepping Down From Her Position On The Board Of Directors To Assume The Role Of Chief Operating Officer

WIIM

THRY

Thryv Holdings shares are trading lower after the company reported preliminary Q3 results. Also, the company announced a $75 million public offering and announced the proposed acquisition of Keap.

Biotech

MLYS

Mineralys Therapeutics Completes Early Enrollment In Second Pivotal Trial For Lorundrostat In Hypertension; Topline Data Expected In Mid First Half Of 2025, With Virtual KOL Event To Discuss Unmet Need And Clinical Program

Gates Industrial Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GTES#NYSE">GTES</a>) raises FY2024 Adj EPS guidance from $1.29-1.35 to $1.33-1.37 vs $1.31 analyst estimate. Narrows FY2024 sales outlook from $3.44 billion-3.51 billion to $3.44 billion-3.47 billion vs $3.41 billion estimate.

GTES

Gates Industrial Corp Raises FY2024 Adj EPS Guidance from $1.29-1.35 to $1.33-1.37 vs $1.31 Est; Core Sales growth of -4 to -3%.

B of A Securities analyst Justin Post maintains Reddit (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) with a Neutral and raises the price target from $84 to $99.

B of A Securities Maintains Neutral on Reddit, Raises Price Target to $99

Biomarker cohort for delpacibart braxlosiran (del-brax), the first potential therapy to target DUX4, is measuring changes in DUX4 regulated biomarkers; del-brax 2 mg/kg will be administered every six weeks
Enrollment in the del-brax biomarker cohort expected to be completed in 1H 2025; on track to initiate del-brax functional cohort in 1H 2025
In previously reported initial data, del-brax 2 mg/kg every six weeks showed unprecedented and consistent reductions of DUX4 regulated genes, significant decreases in novel circulating biomarker and creatine kinase, and trends of functional improvement at the four-month timepoint
SAN DIEGO, Oct. 30, 2024 /PRNewswire/ --&nbsp;Avidity Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RNA#NASDAQ">RNA</a>), a biopharmaceutical company committed to delivering a new class of RNA therapeutics called Antibody Oligonucleotide Conjugates (AOCs&#x2122;), today announced the initiation of a biomarker cohort in the Phase 1/2&nbsp; FORTITUDE&#x2122; trial of delpacibart braxlosiran (del-brax/AOC 1020) in people living with facioscapulohumeral muscular dystrophy (FSHD). Avidity is pursuing a potential accelerated approval path for del-brax and expects enrollment in the biomarker cohort to be completed in the first half of 2025. Avidity also remains on track to initiate a functional cohort in the first half of 2025. In addition, enrollment of the FORTITUDE Open-label Extension study (OLE) is ongoing.

Avidity Biosciences Pursues Potential Accelerated Approval Path With Initiation Of Biomarker Cohort In FORTITUDE Trial For Delpacibart Braxlosiran In People Living With Facioscapulohumeral Muscular Dystrophy

Flex Sees Q3 Revenues Of $6.0B-$6.4B Vs. $6.5B Estimate, Adjusted EPS Of $0.60-$0.66 Vs. $0.56 Estimate

Trinity Cap (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRIN#NASDAQ">TRIN</a>) reported quarterly earnings of $0.52 per share which met the analyst consensus estimate. This is a 5.45 percent decrease over earnings of $0.55 per share from the same period last year. The company reported quarterly sales of $61.77 million which beat the analyst consensus estimate of $55.53 million by 11.23 percent. This is a 33.01 percent increase over sales of $46.44 million the same period last year.

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STAR ASIA INVT CORP by STAR ASIA INVT CORP.

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