ProShares Ultra Cloud Computing (NASDAQ: SKYU)

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The Fund invests in financial instruments that ProShare Advisors believes, in combination, should produce daily returns consistent with the Daily Target. The Index is constructed and maintained by Nasdaq Inc. The Index is comprised of companies classified as cloud computing companies by the Consumer Technology Association. CTA classifies companies as cloud computing if the company is engaged in one or more activities.

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ProShares Ultra Cloud Computing

News

Management

Gannett Appoints Trisha Gosser As CFO; Douglas Horne To Step Down As CFO, Both Effective March 18, 2025

COST CLIMBS OVER 17 POINTS AFTER TRADEPULSE ALERT
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="546" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/03/17225807/Screen-Shot-2025-03-17-at-6.53.12-PM-1024x546.png" alt="" class="wp-image-8145" style="width:920px;height:auto" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/03/17225807/Screen-Shot-2025-03-17-at-6.53.12-PM-1024x546.png 1024w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/03/17225807/Screen-Shot-2025-03-17-at-6.53.12-PM-300x160.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/03/17225807/Screen-Shot-2025-03-17-at-6.53.12-PM-768x410.png 768w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/03/17225807/Screen-Shot-2025-03-17-at-6.53.12-PM.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Costco, Inc. (COST) today experienced a Power Inflow, a significant event for those who follow where smart money goes and value order flow analytics in their trading decisions.&nbsp;
Today, at 10:05 AM on March 17th, a significant trading signal occurred for Costco, Inc. (COST) as it demonstrated a Power Inflow at a price of $905.74. This indicator is crucial for traders who want to know directionally where institutions and so-called "smart money" moves in the market. They see the value of utilizing order flow analytics to guide their trading decisions. The Power Inflow points to a possible uptrend in Costco&#8217;s stock, marking a potential entry point for traders looking to capitalize on the expected upward movement. Traders with this signal closely watch for sustained momentum in Costco&#8217;s stock price, interpreting this event as a bullish sign.
Signal description
Order flow analytics, aka transaction or market flow analysis, separate and study both the retail and institutional volume rate of orders (flow). It involves analyzing the flow of buy and sell orders, along with size, timing, and other associated characteristics and patterns, to gain insights and make more informed trading decisions. This particular indicator is interpreted as a bullish signal by active traders.&nbsp;
The Power Inflow occurs within the first two hours of the market open and generally signals the trend that helps gauge the stock&#8217;s overall direction, powered by institutional activity in the stock, for the remainder of the day.&nbsp;
By incorporating order flow analytics into their trading strategies, market participants can better interpret market conditions, identify trading opportunities, and improve their trading performance. But let's not forget that while watching smart money flow can provide valuable insights, it is crucial to incorporate effective risk management strategies to protect capital and mitigate potential losses. Employing a consistent and effective risk management plan helps traders navigate the uncertainties of the market in a more controlled and calculated manner, increasing the likelihood of long-term success
If you want to stay updated on the latest options trades for COST, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trade alerts.&nbsp;
<a href="https://benzinga.com/apis?_gl=1&#x2A;1hlgn5i&#x2A;_ga&#x2A;MTY1NjE2NTYxMi4xNzE0NzQ4MTAy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDc0ODEwMi4xLjEuMTcxNDc0ODQyOC4wLjAuMA..">Market News and Data brought to you by Benzinga APIs</a> and include firms, like&nbsp; &nbsp; <a href="https://www.tradepulse.net">https://www.tradepulse.net</a>&nbsp; which are responsible for parts of the data within this article. 
&#xA9; 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The price at the time of the Power Inflow was $905.74. The returns on the High price ($923.39) and Close price ($916.61) after the Power Inflow were respectively 1.9% and 1.2%. That is why it is important to have a trading plan that includes Profit Targets and Stop Losses that reflect your risk appetite.
Past Performance is Not Indicative of Future Results

Equities

Technicals

Opinion

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COST

Costco Shares Rise 1.9% After Key Signal

Apple Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) latest shipment data from China paints a concerning picture: foreign-branded phone shipments — a strong indicator of iPhone sales — dropped 21% <a href="https://www.benzinga.com/tech">year-over-year in January</a>.
That&#8217;s a sharp reversal from December's slight growth. 
While the decline adds to ongoing concerns over Apple's market position in China, a closer look at the numbers suggests the worst may be behind the company.
In a note shared Monday, Goldman Sachs analyst Michael Ng highlighted the latest data from the China Academy of Information and Communications Technology. Overall mobile phone shipments in China fell 14% year-over-year to 27.2 million units in January, the biggest decline since September's 24% drop.
See Also: <a href="https://www.benzinga.com/25/03/44372544/us-stocks-swing-as-futures-turn-flat-ahead-of-fomc-meeting-analysts-say-only-certainty-is-that-things-will-remain-uncertain-for-the-time-being">US Futures Show Caution Among Investors Ahead Of FOMC Meeting</a>
<h3 class="wp-block-heading">Is Apple Still Losing Ground in China?</h3>
The numbers reflect a clear trend: Apple's sales in China have been under pressure for months. From September to November 2024, foreign-branded phone shipments in the country collapsed by more than 40% annually each month, indicating that Apple was losing share to domestic competitors such as Huawei Technologies Co. and Xiaomi Corp. (OTCPK: XIACY)
Yet, the January figures offer a silver lining. While still negative on a yearly basis, the 21% year-over-year decline represents an improvement over the 40%-47% plunges seen in previous months.
Goldman Sachs notes that December and January results &#8220;may have benefited from inventory build&#8221; ahead of the implementation of national consumer smartphone subsidies on Jan. 20.
Additionally, foreign-branded shipments rose 17% month-over-month from December, suggesting some stabilization—though still below the typical seasonal jump of 51% seen in past years.
Foreign-branded phones held a 16% market share, up from 11% in December 2024, though still below the historical 17% in January 2024 and 48% in January 2023.
<h3 class="wp-block-heading">Goldman Sachs Holds &#8216;Buy&#8217; Rating, Keeps $294 Price Target On AAPL</h3>
Despite the weak shipment data, Goldman Sachs reaffirmed its &#8220;Buy&#8221; rating on AAPL with a 12-month price target of $294, implying a 37.7% upside from its latest closing price of $213.49. The valuation is based on 33x projected earnings for the next 12 months plus one year.
Apple shares were down 0.1% in premarket trading on Tuesday, reflecting cautious sentiment around the data.
The Cupertino-based tech giant is down 14.5% year-to-date, on track for the worst quarter since early 2022.
Read Now: 
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/03/44367075/chinese-stocks-poised-for-best-quarter-vs-sp-500-since-2007-as-investors-bet-on-policy-turnaround"> Chinese Stocks Poised For Best Quarter Vs. S&amp;P 500 Since 2007 As Investors Bet On Policy Turnaround</a></li>
</ul>
Image: Shutterstock

Asia

Large Cap

Tech

AAPL

XIACY

Apple iPhone Shipments In China Drop 21% In January, Goldman Sachs Remains Bullish

Macro Economic Events

Econ #s

Economics

USA Redbook (YoY) 5.2% Vs 5.7% Prior

<a href="https://www.globenewswire.com/Tracker?data=P1_GaCrD_zLP01GOSEaEm30A-AKN39-NgCg1JmdVYmhXKc2elzXDogmaFFygzI4Ytlr09OT90EHvyEi7Cow7ltcfgi6DQzpPRp7R1VdTVCA=">Vincerx Pharma, Inc.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VINC#NASDAQ">VINC</a>) today announced that it has entered into a non-binding letter of intent ("LOI") with Global Digital Holdings Inc., conducting business as QumulusAI, a privately-held, high-performance computing infrastructure company for artificial intelligence (AI), relating to a business combination between Vincerx and QumulusAI. The contemplated transaction would result in QumulusAI becoming a publicly traded company through a reverse triangular merger with Vincerx.
Under the proposed terms, a subsidiary of Vincerx would merge into QumulusAI, with QumulusAI stockholders receiving shares of Vincerx common stock. Additionally, QumulusAI options, warrants, and other rights would be converted into options, warrants, and rights to acquire Vincerx common stock. The exchange ratio is intended to result in QumulusAI equity holders owning approximately 95% of the combined company, while Vincerx equity holders would own approximately 5%. The proposed transaction assumes a value for QumulusAI of approximately $285 million and a value for Vincerx of approximately $15 million, assuming zero cash (net of liabilities) at closing. As part of the transaction, to the extent requested by Vincerx, QumulusAI or its designees will invest up to $1.5 million in the equity of Vincerx prior to closing.

Contracts

VINC

Vincerx Pharma Enters Non-Binding LOI With QumulusAI For Reverse Merger; QumulusAI To Own 95% Of Combined Entity Valued At $285M, Vincerx At $15M; QumulusAI Or Its Designees Will Invest Up To $1.5M In The Equity Of Vincerx Prior To Closing

On Monday, Nanobiotix SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBTX#NASDAQ">NBTX</a>) announced an amendment to its global licensing agreement with Janssen Pharmaceutica NV, a Johnson &amp; Johnson company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>), as part of <a target="_blank" href="https://www.benzinga.com/general/biotech" rel="noreferrer noopener">its financial strategy</a>.
The revision relieves Nanobiotix of funding obligations for its pivotal NANORAY-312 Phase 3 trial while modifying certain <a target="_blank" href="https://www.benzinga.com/pressreleases/25/03/g44364428/nanobiotix-strengthens-financial-position-through-amendment-of-global-licensing-agreement-for-jnj-" rel="noreferrer noopener">future milestone payments</a>.
The company expects the changes to bolster its financial stability and extend its cash runway.
Under the revised agreement, Johnson &amp; Johnson will assume nearly all remaining costs for NANORAY-312 through trial completion, with Nanobiotix covering only a small portion.
Also Read: <a href="https://www.benzinga.com/markets/forex/25/03/44372206/asia-and-europe-markets-gains-gold-makes-new-high-global-markets-today-while-us-slept" target="_blank" rel="noreferrer noopener">Asia And Europe Markets Gains, Gold Makes New High &#8211; Global Markets Today While US Slept</a>
This shift significantly reduces Nanobiotix's financial burden and allows the company to focus on advancing its clinical pipeline.
The overall deal value has been adjusted from approximately $2.7 billion to $2.6 billion, with a $105 million reduction in potential future milestone payments.
However, Nanobiotix remains eligible for substantial success-based payments, including up to $1.77 billion in development, regulatory and sales milestones for its first programs, such as cisplatin-ineligible head and neck cancer and unresectable stage 3 non-small cell lung cancer.
Additionally, Johnson &amp; Johnson may develop up to five new indications at its discretion, potentially adding another $650 million in milestone payments.
Nanobiotix also retains eligibility for $165 million in milestone payments across China, South Korea, Singapore and Thailand. Furthermore, for each new indication developed under Nanobiotix's alignment with Johnson &amp; Johnson, the company could earn up to $220 million in additional milestone payments. Tiered royalties in the low double-digit range, from the low teens to low 20s, remain unchanged.
Financially, the amended agreement extends Nanobiotix's cash runway to mid-2026, with efforts underway to secure additional financing—preferably non-dilutive—to extend it further into 2027.
The company also expects a significant reduction in operational cash burn, as the NANORAY-312 trial previously accounted for a major portion of its expenses.
Price Action: NBTX stock is up 4.48% at $3.50 during the premarket session at the last check Tuesday.
Read Next:
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<li><a href="https://www.benzinga.com/25/03/44372525/finvolution-reports-strong-q4-eyes-50-revenue-from-international-markets-by-2030-more" target="_blank" rel="noreferrer noopener">FinVolution Reports Strong Q4, Eyes 50% Revenue From International Markets By 2030 &amp; More</a></li>
</ul>
Photo: Shutterstock

Biotech

Health Care

General

NBTX

Cancer-Focused Nanobiotix Adjusts $2.7 Billion Johnson & Johnson Agreement To Strengthen Finances And Relieve Funding Burden

Scotiabank analyst Jonathan Goldman maintains TerraVest Industries (TSX:<a class="ticker" href="https://www.benzinga.com/stock/TVK#TSX">TVK</a>) with a Sector Outperform and raises the price target from C$126 to C$140.

Price Target

Analyst Ratings

TSX:TVK

Scotiabank Maintains Sector Outperform on TerraVest Industries, Raises Price Target to C$140

As of March 18, 2025, two stocks in the communication services sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Electronic Arts Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>)</h3>
<ul>
<li>On Feb. 4, Electronic Arts announced preliminary financial results for its third quarter ended Dec. 31, 2024. &#8220;The record success of our EA SPORTS FC 25 Team of the Year event demonstrates our creative teams&#8217; ability to adapt, innovate, and execute at scale,&#8221; said Andrew Wilson, CEO of Electronic Arts. &#8220;As we build on this momentum across EA, we are confident in a return to growth in FY26 and beyond as we bring our next wave of iconic entertainment to players and fans worldwide.&#8221; The company's stock gained around 11% over the past month and has a <a href="https://www.benzinga.com/quote/EA">52-week high of $168.50</a>.</li>
<li>RSI Value: 70.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>EA Price Action: Shares of Electronic Arts gained 3.1% to close at $142.90 on Monday.</li>
</ul>
<h3 class="wp-block-heading">Baidu Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>)</h3>
<ul>
<li>On March 12, Baidu announced completion of CNY10 billion offering of CNY-denominated senior notes. The company's stock gained around 13% over the past month and <a href="https://www.benzinga.com/quote/BIDU">has a 52-week high</a> of $116.25.</li>
<li>RSI Value: 74</li>
<li>BIDU Price Action: Shares of Baidu closed at $102.27 on Monday.</li>
</ul>
Read This Next: 
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<li><a href="https://www.benzinga.com/markets/25/03/44355158/jim-cramer-says-this-tech-stock-is-a-meme-stock-recommends-buying-accenture">Jim Cramer Calls This Stock A &#8216;Meme Stock,&#8217; Recommends Buying Accenture</a></li>
</ul>

Short Ideas

Pre-Market Outlook

BIDU

Top 2 Tech And Telcom Stocks That May Keep You Up At Night In March

Wells Fargo analyst Matthew Akers maintains Science Applications Intl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAIC#NASDAQ">SAIC</a>) with a Overweight and raises the price target from $139 to $148.

SAIC

Wells Fargo Maintains Overweight on Science Applications Intl, Raises Price Target to $148

Wells Fargo analyst Yanan Zhu maintains Metagenomi (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGX#NASDAQ">MGX</a>) with a Overweight and lowers the price target from $25 to $20.

Wells Fargo Maintains Overweight on Metagenomi, Lowers Price Target to $20

Wells Fargo analyst Zachary Fadem maintains RH (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RH#NYSE">RH</a>) with a Overweight and lowers the price target from $500 to $375.

Wells Fargo Maintains Overweight on RH, Lowers Price Target to $375

<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="900" height="600" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/03/18072303/Weibo-0318-01.jpeg" alt="" class="wp-image-8149" style="width:900px;height:auto" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/03/18072303/Weibo-0318-01.jpeg 900w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/03/18072303/Weibo-0318-01-300x200.jpeg 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/03/18072303/Weibo-0318-01-768x512.jpeg 768w" sizes="(max-width: 900px) 100vw, 900px" /></figure>
One of China's earliest social media companies said most of its major metrics were flat in its latest quarterly report, as it remains reliant on advertising for 85% of its revenue
<h4 class="wp-block-heading">Key Takeaways:</h4>
<ul>
<li>Weibo's revenue fell 1% in the fourth quarter, as a 4% drop in its core advertising business was partly offset by a rise in its smaller value-added services</li>
<li>More than half of the 21 analysts polled by Yahoo Finance rate the company a "hold" or worse, reflecting bearishness on its stock and ability to revive its prospects</li>
</ul>
Which way, Weibo?
Both analysts and investors seem undecided these days on&nbsp;Weibo Corp.&nbsp;(WB.US; 9898.HK), one of China's earliest and most enduring social media companies that started out as a knockoff of Twitter, now known as X. Many might argue that like X, Weibo is currently in need of a major overhaul, which might be better done out of the public eye as a private rather than publicly traded company.
Weibo's woes were on display in its&nbsp;<a href="https://www.prnewswire.com/news-releases/weibo-announces-fourth-quarter-and-fiscal-year-2024-unaudited-financial-results-and-annual-dividend-302400844.html">latest quarterly results</a>&nbsp;released last Thursday, which repeated a frequent refrain of recent years portraying a company mired in stagnation. All these years after first exploding on the scene after the original Twitter was blocked in China in 2009, Weibo still relies on advertising for the big majority of its revenue, accounting for 85% in the latest quarter.
That business has fallen flat these days, and was actually down 4% in the fourth quarter to $385.9 million from $403.7 million a year earlier. The company's overall revenue for the quarter was down by a milder 1% to $456.8 million from $463.7 million a year earlier, saved by an 18% rise in value-added services that are its other main revenue source.
The investment community's mixed feelings on this company are nicely reflected in its split profile among analysts. Of the 21 polled by Yahoo Finance, 10 rate Weibo a "hold," one gives it an "underperform" and one a "sell" – very bearish numbers that show many see little potential for a turnaround anytime soon, either in its business or its stock price. That said, there are still eight who rate it a "buy" and a lone cheerleader who gives it a "strong buy" – perhaps a relative of the company's longtime Chairman Charles Chao or its CEO Wang Gaofei.
To be fair, Weibo has been trying to diversify and compete with China's latest "in crowd" that has found gold in revenue streams like tipping for their favorite online celebrities, livestreaming e-commerce and the sale of virtual objects. But nothing seems to have worked, leaving Weibo as mostly a one-trick pony addicted to an online advertising market that has only grown more crowded with popular newcomers like Douyin and Xiaohongshu over time.
The company was led for years by Chairman Chao, who harkens from the first generation of internet entrepreneurs that also includes the likes of Alibaba's Jack Ma and Tencent's Pony Ma. But lately Chao has stepped back into a non-executive role and is letting a younger generation take over, led by current CEO Wang.
Still, the best Wang could do on the company's latest earnings call was detail which sectors are getting a boost from China's recent stimulus measures targeted at consumers, which is helping to boost ad spending by those sectors. He noted that digital products and e-commerce had gotten a boost from such stimulus, while most other areas, including beauty, personal care and luxury products, continue to suffer.
He also touted a new version of Weibo intelligent search using the latest open-source AI models that would be rolled out this quarter, following other Chinese companies in showing how the company is using the hot technology to advance its business.
<h4 class="wp-block-heading">Stagnation all around</h4>
We've already described how Weibo's revenue has entered a period of stagnation, and that's reflected in its other numbers as well. Its monthly active users fell slightly to 590 million in the fourth quarter from 598 million a year earlier. Its average daily active users ticked up slightly to 260 million from 257 million over that period.
The one major metric that wasn't flat was its net income, which plummeted to $8.9 million from $83.2 million a year earlier. But its non-GAAP profit, which typically excludes share-based compensation and other non-cash items, actually rose to $106.6 million from $76.4 million.
In a bid to keep investors interested, the company announced a new policy to pay a regular annual dividend, after paying two one-time dividends over the last two years. Its latest dividend will see it pay out $200 million for 2024, equal to $0.82 per American depositary share (ADS), which equals a fairly respectable 7.5% return based on its latest share price. So, if you're a dividend lover, perhaps this stock is for you. But if you like growth, you should probably look elsewhere.
Reflecting the mixed sentiment about the company, Weibo's stock dropped 3.2% on Thursday after the results were announced, but then gained all of that back and a little bit more over the next two trading days. Still, at its latest close of $10.90, the stock is 36% below the $17 it sold shares for when it was still quite a hot company at the time of its 2014 IPO.
Weibo's parent, Sina Corp., was one of China's earliest publicly traded internet companies and later privatized as a somewhat redundant entity after Weibo became its primary asset. Weibo looked set to follow that pattern in 2021, when reports emerged that Chairman Chao was in talks with an unnamed Shanghai-based state investor to privatize the company, in a deal that could have value it at about $20 billion.
Chao is probably wishing that deal had come to fruition, since Weibo's market cap has shrunk since then to just $2.7 billion. The stock has lost about 80% of its value since then amid a broader selloff for Chinese companies between 2021 and 2024. It has bounced back by about 50% over the last six months with the China stock rally, though this really seems like the case of the old adage that "a rising tide raises all ships" rather than any vote of confidence in Weibo.
Despite the rally, Weibo's stock trades at an anemic price-to-earnings (P/E) ratio of just 9, well behind the 25 for Facebook parent&nbsp;Meta&nbsp;(META.US) and 31 for domestic peer&nbsp;Tencent&nbsp;(0700.HK), owner of WeChat. Frankly speaking, Weibo could be past the point of saving, similar to the original X/Twitter, which also looks like a sinking ship. But for any chance of longer-term survival, a Twitter-like privatization and major overhaul of the company out of the public spotlight seems mandatory.

Earnings

Dividends

Dividend Investors May Like This Stock's 7.5% Yield

On Tuesday, SNDL Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNDL#NASDAQ">SNDL</a>) reported fourth-quarter sales of CA257.68 million, up 3.7% year over year, beating the <a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of CA248.10 million</a>.
Net revenue&nbsp;for 2024 was <a target="_blank" href="https://www.benzinga.com/cannabis" rel="noreferrer noopener">CA920.4 million, up 1.3%</a>.
The company says the quarter and the full year represent new records for the corporation, driven by strong growth from the combined cannabis business of +16.5% in the fourth quarter and +10.6% <a href="https://www.benzinga.com/pressreleases/25/03/n44373050/sndl-reports-fourth-quarter-and-full-year-2024-financial-and-operational-results" target="_blank" rel="noreferrer noopener">over the full year</a>.
Net revenue for liquor retail continued to decline in the fourth quarter to CA154.08 million, down 3.4%, although slightly slower than in previous quarters, amid market demand softness.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/01/42793407/cannabis-physician-surgeon-generals-alcohol-cancer-risk-warning-is-a-wake-up-call" rel="noreferrer noopener">EXCLUSIVE: Cannabis Physician Says Surgeon General&#8217;s Alcohol Cancer Risk Warning Is &#8216;Wake-Up Call&#8217;</a>
Same-store sales&nbsp;decreased by -3.5% in the fourth quarter and -4.6% for the full year.
&#8220;We are pleased with the continued progress reflected in our fourth-quarter and full-year 2024 results, as we set new records and exceeded our commitment to achieving break-even free cash flow for the year. We have accomplished this while continuing to transform our business by investing in growth opportunities and strengthening our organizational capabilities,&#8221; said Zach George, CEO of SNDL.
Net revenue for cannabis retail grew 10.7% to CA83.17 million as the Value Buds banner continues to gain market share. The company also conducted some additional promotional activities in the fourth quarter.
Same-store sales increased by +6.3% in the fourth quarter and +3.5% over the full year.
Cannabis operations reported a 42.4% jump in sales to CA37.09 million, driven by the increased provincial board and Business-to-Business distribution.
The cannabis company reported a gross profit&nbsp;of&nbsp;CA68.8 million&nbsp;in the fourth quarter of 2024 and&nbsp;CA240.3 million&nbsp;for 2024, representing growth of +20.0% and +26.2%, respectively.
SNDL reported an operating loss of CA76.1 million for the fourth quarter of 2024, driven by a negative valuation adjustment of the SunStream portfolio of CA65.7 million, a Spiritleaf intangible write-off of CA15.0 million and restructuring charges of CA0.6 million.
Cash flow&nbsp;was negative by&nbsp;$(44.6) million&nbsp;in the fourth quarter of 2024, driven by the acquisition of Nova&#8217;s minority equity interest and the repurchase of SNDL&#8217;s common shares.
Full-year cash flow was positive by&nbsp;$23.3 million. Free cash flow&nbsp;was positive in the fourth quarter at&nbsp;$11.6 million and $8.9 million for 2024.
Price Action: SNDL stock is up 4.52% at $1.62 during the premarket session at the last check Tuesday.
Read Next:
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<li><a href="https://www.benzinga.com/25/03/44371971/rocket-lab-launches-final-kineis-satellites-enabling-global-iot-coverage" target="_blank" rel="noreferrer noopener">Rocket Lab Launches Final Kinéis Satellite, Enabling Global IoT Coverage</a></li>
</ul>
Photo: Shutterstock

Cannabis

SNDL

Canadian Cannabis SNDL Achieves Break-Even Free Cash Flow For 2024

DWTX

Dogwood Therapeutics Announces The Dosing Of The First Patient In Its Phase 2b Clinical Trial Evaluating Halneuron For The Treatment Of Neuropathic Pain Associated With Prior Chemotherapy Treatment

Barclays analyst Betty Jiang maintains Murphy Oil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUR#NYSE">MUR</a>) with a Equal-Weight and lowers the price target from $34 to $32.

Barclays Maintains Equal-Weight on Murphy Oil, Lowers Price Target to $32

MD Local Global Limited, a wholly owned subsidiary of&nbsp;MDJM LTD (NASDAQ:<a href="https://www.benzinga.com/stock/UOKA#NASDAQ">UOKA</a>) (the "Company" or "MDJM"), an integrated global culture-driven asset management company, today announced that it has signed an Architectural Design Service Agreement with the Japanese architectural firm KENGO KUMA &amp; ASSOCIATES, INC (KKAA). Since its establishment,&nbsp;KKAA has completed over 550 projects.&nbsp;This partnership is established to drive the Fernie Castle Oriental Landscape Project, which project is intended to harmonize traditional Eastern garden art with historic Scottish castle aesthetic, aiming to create a landmark that embodies both cultural richness and modern design.
Situated in the picturesque surroundings of Fife, Scotland, the 16th-century Fernie Castle is surrounded by 17 acres of woodlands, offering a serene, historic setting. The Oriental Landscape Project is anticipated to blend Eastern-inspired garden features with the castle's Western architectural heritage, which may serve as a global example of harmonizing diverse cultural designs.

UOKA

MDJM LTD's MD Local Global Announces That It Has Signed An Architectural Design Service Agreement With The Japanese Architectural Firm KENGO KUMA & ASSOCIATES

Tencent Music Entertainment Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TME#NYSE">TME</a>) shares are trading higher in<a target="_blank" href="https://www.benzinga.com/pressreleases/25/03/n44371396/tencent-music-entertainment-group-announces-fourth-quarter-and-full-year-2024-unaudited-financial-" rel="noreferrer noopener"> the premarket session on Tuesday.</a>
The company reported fourth-quarter revenues of $1.02 billion, beating the street view of $1.01 billion. Revenues increased 8.2% year over year, primarily due to strength in online music services, partially offset by a decline in revenues from social entertainment services and others.
China&#8217;s online music and audio entertainment platform&#8217;s adjusted EPADS of $0.20 (1.47 Chinese yuan) beat the consensus of $0.19.
Revenues from music subscriptions&nbsp;were&nbsp;$552 million, representing 18.0% year-over-year growth.
Net profit attributable to equity holders of the company&nbsp;was&nbsp;$268 million, representing 49.8% year-over-year growth.&nbsp;
Also Read: <a target="_blank" href="http://benzinga.com/media/25/03/44368717/chinas-deepseek-sparks-national-security-alarm-do-not-download-view-access-any-applications" rel="noreferrer noopener">China&#8217;s DeepSeek Sparks National Security Alarm: &#8216;Do Not Download, View, Access Any Applications&#8230;&#8217;</a>
Gross margin increased&nbsp;to 43.6% from 38.3% in the same period of 2023, primarily&nbsp;due to strong growth in revenues from music subscriptions, including&nbsp;subscriptions to SVIP membership.
Monthly active users (MAUs) for online music declined by 3.5% year over year to 556 million, and mobile MAUs for social entertainment decreased by 21.2% year over year to 82 million.
The monthly average revenue per user (ARPPU) for online music grew by 3.7% year over year to 11.1 million Chinese yuan, Monthly ARPPU for social entertainment declined by 9.7% year over year to 70.4 million Chinese yuan.&nbsp;
Total&nbsp;cash, equivalents, term deposits and short-term investments&nbsp;as of&nbsp;December 31, 2024,&nbsp;were&nbsp;$5.15 billion.
&#8220;With confidence into 2025, we are pleased to announce an annual dividend of approximately&nbsp;$273 million&nbsp;and an expanded share repurchase program of up to&nbsp;$1 billion,&#8221; said Cussion Pang, Executive Chairman.
The company said it has recently authorized a new share repurchase program under which it may repurchase up to&nbsp;$1 billion&nbsp;of its Class A ordinary shares during a 24-month period commencing from&nbsp;March 2025.
For the fiscal year of 2024, the company declared a cash dividend of&nbsp;$0.09&nbsp;per ordinary share, or&nbsp;$0.18&nbsp;per ADS, to holders of record of ordinary shares and ADSs as of the close of business on&nbsp;April 3, 2025.&nbsp;
Price Action: TME shares are trading higher by 3.37% to $13.50 premarket at last check Tuesday.
Read Next:
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<li><a href="https://in.benzinga.com/media/25/02/43646042/elon-musks-97-4-billion-openai-takeover-bid-reportedly-not-received-by-chatgpt-parent-another-one-of-his-tactics-says-sam-altman" target="_blank" rel="noreferrer noopener">Elon Musk's $97.4 Billion OpenAI Takeover Bid Reportedly Not Received By ChatGPT Parent: ‘Another One Of His Tactics,' Says Sam Altman</a></li>
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Photo by Antonio Gravante via Shutterstock.

Movers

Tencent Music's Q4 Revenue Beats Street View, But Monthly Active Users Fall Over 3%

Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), formerly MicroStrategy, has helped bond managers to outperform since the company has issued 0% convertible bonds. According to this analyst, MSTR's "novel strategy" has the potential for great upside in the future.
What Happened: After MSTR established itself as a Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) treasury firm, the company has been issuing 0% convertible bonds and debt to acquire more Bitcoin. The novel thing about the company&#8217;s strategy is that they have issued these debt securities for almost no interest cost. So the BTC purchase is funded without having to actually pay for the interest expense.
"Now, you might think that this is a little bit reckless but it turns out it's a very novel strategy. Because they have created a network value, they are one of the largest holders of bitcoin now. Ultimately, they might become the second largest holder of Bitcoin after the U.S. government," said Tom Lee, the CIO at Fundstrat Capital.
According to Lee, bondholders were buying these bonds because they offered, for the first time, the ability to invest a billion dollars in a bond with Bitcoin exposure.
"These have been incredibly high performing bonds, they've been the best performing bonds, so they've helped bond managers outperform by buying typical corporate bonds but with an upside in crypto. So this works unless Bitcoin itself doesn't have a promising future," said Lee.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Fading <a href="https://twitter.com/fundstrat?ref_src=twsrc%5Etfw">@fundstrat</a> Tom Lee has been a losing game for a very long time&#8230; <a href="https://t.co/WU4m1EjyM4">pic.twitter.com/WU4m1EjyM4</a>
&mdash; Cory Klippsten &#x1f9a2; Swan.com (@coryklippsten) <a href="https://twitter.com/coryklippsten/status/1901641747538837677?ref_src=twsrc%5Etfw">March 17, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/25/03/44370387/fed-put-on-standby-while-trump-put-may-be-kaput-analysts-expect-jerome-powell-to-pivot-to-a-measured-stance-amid-economic-uncertainty" target="_blank" rel="noreferrer noopener">Fed Put On Standby, While Trump Put May Be Kaput? Analysts Expect Jerome Powell To Pivot To A Measured Stance Amid Economic Uncertainty</a>
Why It Matters: The Michael Saylor-led company, which transformed itself five years ago by using the cash on its balance sheet to purchase Bitcoin is no longer valued based on its software business, but it&#8217;s valued as a holder of Bitcoin.
Lee believes that Saylor had done something "brilliant," and that over time, as MSTR accumulates enough Bitcoin, the company would be able to do novel things like lending or securing financial systems with the cryptocurrency.
"MSTR is going to be one of the few companies that has a large holding of Bitcoin that you can actually tap, so I kind of applaud the strategy. I think that there is a lot of upside, as long as Bitcoin goes up, MSTR is likely goes up a lot more," added Lee.
Price Action: MSTR shares have declined 1.91% on a year-to-date basis and it&#8217;s up 95.81% over a year. Its shares were down 3.29% in premarket on Tuesday whereas the exchange-traded fund tracking the Nasdaq 100 index,&nbsp;Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;was 0.46% lower.
Benzinga's <a href="https://www.benzinga.com/report/MSTR">Edge Rankings</a> show a strong price trend in the medium and long term, whereas the short term trend has been poor. While its momentum ranking has been quite high at 99.97 percentile, its value and growth rankings are extremely poor.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/report/MSTR"><img loading="lazy" decoding="async" width="804" height="135" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/18081348/Strategy-Edge-Rankings.png" alt="" class="wp-image-829294" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/18081348/Strategy-Edge-Rankings.png 804w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/18081348/Strategy-Edge-Rankings-300x50.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/18081348/Strategy-Edge-Rankings-768x129.png 768w" sizes="(max-width: 804px) 100vw, 804px" /></a></figure>
Its consensus price target was $494.93, with a ‘buy' rating, based on the <a href="https://www.benzinga.com/quote/MSTR/analyst-ratings">14 analysts tracked by Benzinga</a>. The price targets ranged from a low of $140 to a high of $690. The three latest ratings from Barclays, Keefe, Bruyette &amp; Woods, and Maxim Group averaged at $493.67, implying a 71.88% upside.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/MSTR/analyst-ratings"><img loading="lazy" decoding="async" width="1024" height="386" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/18081416/MSTR-ANR-startegy-1024x386.png" alt="" class="wp-image-829296" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/18081416/MSTR-ANR-startegy-1024x386.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/18081416/MSTR-ANR-startegy-300x113.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/18081416/MSTR-ANR-startegy-768x289.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/18081416/MSTR-ANR-startegy.png 1062w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Read Next:
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<li><a href="https://www.benzinga.com/25/03/44374442/tesla-investors-advised-to-fasten-their-seatbelts-as-this-analyst-expects-march-deliveries-to-take-a-hit-its-stil">Tesla Investors Advised To Fasten Their Seatbelts As Analyst Expects March Deliveries To Take A Hit: It&#8217;s Still &#8216;Best-Positioned Company In Physical AI&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

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MSTR

Michael Saylor's MSTR Provides Bitcoin Exposure To Bondholders With Its 'Novel Strategy:' Tom Lee Says It's Helping 'Bond Managers Outperform' The Market

Barclays analyst Andrew Lazar maintains General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) with a Equal-Weight and lowers the price target from $68 to $65.

Barclays Maintains Equal-Weight on General Mills, Lowers Price Target to $65

Barclays analyst Blayne Curtis maintains TXNM Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TXNM#NYSE">TXNM</a>) with a Overweight and raises the price target from $56 to $57.

TXNM

Barclays Maintains Overweight on TXNM Energy, Raises Price Target to $57

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