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Smart Sand

Smart Sand Inc is a fully integrated frac sand supply and services company that offers complete mine-to-well site proppant supply and logistics solutions. It produces Northern White frac sand, which is a premium proppant used to enhance hydrocarbon recovery rates in the hydraulic fracturing of oil and natural gas wells. Its product portfolio includes Smart System, which includes SmartBelt, SmartDepot Silo and SmartPath Loader. The company caters its products and services to oil and natural gas exploration and production companies and oilfield service companies. The majority of its revenue comes from Sand Sales, followed by logistics.

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A hotter-than-expected jobs report spurred a premarket rally on Wall Street Friday, showcasing the U.S. economy&#8217;s resilience and easing concerns <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41184080/us-economy-adds-254-000-new-jobs-in-september-smashes-expectations-unemployment-f">over an economic slowdown. </a>
The strong labor data also led traders to rethink the Federal Reserve&#8217;s aggressive rate cuts, resulting in a jump in the dollar and Treasury yields.
What Happened: The U.S. economy added 254,000 jobs in September, far exceeding the expected 140,000. This marks an acceleration from August&#8217;s 159,000 figure and well above the 12-month average of 230,000. Payrolls for both July and August were upwardly revised by 55,000 and 17,000, respectively.
Private sector payrolls accounted for 223,000 jobs, while the government added 31,000. The unemployment rate fell unexpectedly by 0.1% to 4.1%, beating the forecasted 4.2%.
Wages grew by 0.4% in September, surpassing the expected 0.3%. 
Why It Matters: The stronger-than-expected pace of job addition, coupled with a surprisingly lower unemployment rate and higher wage growth, signals a strong consumer spending outlook, which could lift corporate earnings, particularly as we head into the fourth quarter.
Yet the labor market&#8217;s strength also complicates the Federal Reserve&#8217;s efforts to curb inflation. Higher wages could stoke consumer demand, putting upward pressure on prices, potentially slowing disinflation efforts. This may lead the Fed to delay or scale back anticipated interest rate cuts.
Before the jobs report, the market had priced in a 30% chance of a 50-basis-point rate cut in November, according to the CME FedWatch Tool. Following the data release, those odds plummeted to 11%. 
<h3 class="wp-block-heading">Market Reactions:</h3>
<ul>
<li>The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) jumped 0.9% in premarket trading, edging closer to its recent record highs.</li>
<li>The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which tracks major tech stocks, rallied 1.4%, driven by strong gains in the semiconductor sector. The iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) surged 2.1%.</li>
<li>Blue chips rose as well, with the SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) up by 0.7%.</li>
<li>Small caps outperformed large caps. The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rallied 1.7%. </li>
<li>Yields on the 10-year Treasury bond soared by 11 basis points to 3.96%. Yields on the policy-sensitive two-year note spiked by 15 basis points to 3.87%.</li>
<li>The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) tumbled 1.2%. </li>
<li>The U.S. Dollar Index, which is tracked by the&nbsp;Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), rose 0.7%.</li>
</ul>
<h3 class="wp-block-heading">Top Gainers Post-Jobs Report:</h3>
Using the Movers function on <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent100424&amp;t=be2bearmibe3na1">Benzinga Pro</a>, here are the top performers among U.S. mega-cap stocks in the 30 minutes following the release of the September jobs data.
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Company Name</th>
<th>Price</th>
<th>Change</th>
</tr>
</thead>
<tbody>
<tr>
<td>KLA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>)</td>
<td>$799.25</td>
<td>+3.18%</td>
</tr>
<tr>
<td>Mitsubishi UFJ Financial Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUFG#NYSE">MUFG</a>)</td>
<td>$10.18</td>
<td>+3.18%</td>
</tr>
<tr>
<td>Applied Materials Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>)</td>
<td>$205.53</td>
<td>+2.10%</td>
</tr>
<tr>
<td>Lam Research Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>)</td>
<td>$83.60</td>
<td>+2.08%</td>
</tr>
<tr>
<td>Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>)</td>
<td>$166.90</td>
<td>+1.92%</td>
</tr>
<tr>
<td>ARM Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>)</td>
<td>$142.44</td>
<td>+1.91%</td>
</tr>
<tr>
<td>Shopify Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>)</td>
<td>$80.02</td>
<td>+1.67%</td>
</tr>
<tr>
<td>Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>)</td>
<td>$175.66</td>
<td>+1.66%</td>
</tr>
<tr>
<td>Adobe Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>)</td>
<td>$510.58</td>
<td>+1.59%</td>
</tr>
<tr>
<td>Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>)</td>
<td>$39.96</td>
<td>+1.56%</td>
</tr>
<tr>
<td>Texas Instruments Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>)</td>
<td>$204.82</td>
<td>+1.56%</td>
</tr>
</tbody>
</table>
</figure>
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Photo via Shutterstock.

Macro Economic Events

Sector ETFs

Broad U.S. Equity ETFs

Econ #s

Economics

Federal Reserve

Markets

Movers

ETFs

ADBE

AMAT

AVGO

SPDR Dow Jones Industrial Average ETF Trust

KLAC

LRCX

MUFG

SHOP

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SOXX

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PowerShares DB US Dollar Index Bullish Fund

S&P 500 Nears Record Highs On Hot Jobs Data: Dollar, Treasury Yields Surge As Aggressive Interest Rate Cut Hopes Fade

As the cannabis industry continues to evolve, investors are increasingly focused on one thing: a company&#8217;s ability to generate cash flow. With regulatory changes, such as the anticipated rescheduling of cannabis, potentially on the horizon, businesses are preparing for both short-term stability and <a href="https://www.benzinga.com/cannabis">long-term opportunity.</a>
This is according to Brandon Harshbarger, president of Cheech &amp; Chong Global Holdings. In an exclusive interview with Benzinga ahead of his appearance at the <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference</a>, he shared his perspective on what investors seek in cannabis companies.
<h3 class="wp-block-heading">Cash Flow and Market Position Drive Investor Interest</h3>
According to Harshbarger, investors&#8217; message is clear: &#8220;Nearly all investors we speak with have made it clear that the ability of the business to generate real cash flow in the near term is a requirement.&#8221; As the cannabis market matures, investors are less interested in speculative growth and more concerned with a company&#8217;s immediate financial health and sustainability.
<h3 class="wp-block-heading">Focus on Regional Markets Over M&amp;A Activity</h3>
Harshbarger also noted a shift in strategy among multi-state operators (MSOs). &#8220;We see very little in terms of large M&amp;A deals because the established MSOs have their regional footprint and are more focused on protecting their geographical moats than going on acquisition sprees,&#8221; he said.
This shift toward regional consolidation and defense comes as the industry waits for further federal regulatory changes, particularly the potential reclassification of cannabis to Schedule III. Harshbarger mentioned that many companies, including his, are preparing for this regulatory shift: &#8220;There is definitely a holding pattern as everyone waits for the change to Schedule III, and that makes sense to me.&#8221;
<h3 class="wp-block-heading">Planning for Future Opportunities</h3>
While the current environment may feel cautious, Harshbarger believes that significant opportunities lie ahead for companies ready to capitalize on a more favorable regulatory landscape. &#8220;Internally, we have our plans, and when that happens, we think there will be huge opportunities for brands that have shown they can be successful nationally,&#8221; he added.
With the cannabis industry watching regulatory developments closely, businesses like Cheech &amp; Chong Global Holdings are focused on staying competitive, building strong financial foundations, and preparing to take advantage of upcoming changes.
As the <a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">Benzinga Cannabis Capital Conference </a>approaches, industry leaders and investors will pay close attention to how these developments unfold.
Read Next:
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</ul>
Photo: Courtesy of CRYSTALWEED cannabis on Unsplash

Cannabis

Events

Exclusives

Interview

Cheech & Chong's President On Cannabis Industry Shifts: 'Everyone Waits For The Change To Schedule III

On CNBC's &#8220;<a href="https://www.cnbc.com/video/2024/10/02/final-trades-organon-howmet-and-the-psq.html">Halftime Report Final Trades</a>,&#8221; Bryn Talkington of Requisite Capital named Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) as her final trade.
On Wednesday, CEO Jensen Huang confirmed the company&#8217;s highly anticipated Blackwell chips are in full production. Huang appeared on CNBC&#8217;s Closing Bell Overtime on Wednesday and said Nvidia&#8217;s Blackwell chips are in production <a href="https://www.benzinga.com/news/large-cap/24/10/41169979/whats-going-on-with-nvidia-stock">and in high-demand.</a>
&#8220;Blackwell is in full production, Blackwell is as planned, and the demand for Blackwell is insane,&#8221; the Nvidia CEO said. &#8220;Everyone wants to have the most, and everyone wants to be first.&#8221;
Kevin Simpson of Capital Wealth Planning picked CME Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CME#NASDAQ">CME</a>).
On Oct. 2, CME reported market statistics for the third quarter and September month, with average daily volume reaching new, all-time records of 28.3 million contracts in the third quarter and 28.4 million contracts in the month of September.
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
Joshua Brown of Ritholtz Wealth Management named The Trade Desk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>).
On Oct. 2, Truist Securities analyst Youssef Squali maintained Trade Desk with a Buy and raised the price target from $108 to $120.
Price Action:
<ul>
<li>NVIDIA shares gained 3.4% to close at $122.85 during Thursday's session.</li>
<li>CME shares rose 0.3% to settle at $224.27 on Thursday.</li>
<li>Trade Desk shares gained 2.5% to close at $111.46 during Thursday's session.</li>
</ul>
Check This Out: 
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Image: Shutterstock

Long Ideas

News

Media

Trading Ideas

NVDA

Nvidia, Trade Desk And A Financial Stock On CNBC's 'Final Trades'

Globalstar, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSAT#NYSE">GSAT</a>), the next-generation mobile satellite and communications services provider, today announced that Band 53 spectrum will be used to enable high-value and mission-critical applications through carrier aggregation with Citizens Broadband Radio Service (CBRS) in the United States.
In a significant move, Globalstar is collaborating with Global Telecom, Alliance, and Hawk Networks, which builds on the Althea platform, to deliver an enhanced, seamless, and reliable connectivity experience to U.S. customers. This collaboration leverages on Globalstar's strong track record with Global Telecom, known for their fast-paced innovation and expertise. Global Telecom created the first carrier aggregation modules to include Band 53 with other bands, such as the CBRS spectrum. Understanding the growing demand for reliable wireless solutions, Globalstar's 10 MHz channel in Band 53 will be used to ensure uninterrupted private wireless network connectivity for CBRS networks even within critical Dynamic Protection Areas (DPAs) or when Priority Access License (PAL) channels are unavailable.

GSAT

Globalstar's Band 53 Spectrum Will Be Used To Enable High-Value And Mission-Critical Applications Through Carrier Aggregation With Citizens Broadband Radio Service In The U.S. Through A Collaboration With Global Telecom, The Althea Platform, And Alliance

Cisco Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) shares are trading <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">marginally higher on Friday.</a>
The software behemoth reportedly agreed to fund CoreWeave, a cloud-computing provider valued at about $23 billion, <a href="https://www.bloomberg.com/news/articles/2024-10-03/cisco-nears-investment-in-coreweave-at-23-billion-valuation?srnd=phx-technology&amp;sref=TBDibEcD" target="_blank" rel="noreferrer noopener">reported</a> Bloomberg.
Major tech companies have been making substantial investments to enhance infrastructure for AI development. The rise of artificial intelligence applications like ChatGPT and the training of large language models has driven increased demand for cloud computing services, per a Reuters report.
Also Read: <a target="_blank" href="https://www.benzinga.com//node/41149788" rel="noreferrer noopener">OpenAI Valuation Soars To $157B In Latest Funding Round</a>
CoreWeave&#8217;s chief executive officer&nbsp;is Michael Intrator. CoreWeave counts NVIDIA Corporation, Magnetar Capital, Coatue Management, Jane Street, and Fidelity, among its investors.
The latest deal allows existing shareholders of Cisco such as employees to tender $400 million to $500 million of their holdings, Bloomberg reported earlier.
Also Read: <a target="_blank" href="https://www.benzinga.com/trading-ideas/technicals/24/09/41096549/cisco-set-for-technical-breakout-as-golden-cross-signals-strength-analyst-predicts-stock" rel="noreferrer noopener">Cisco Set For Technical Breakout As Golden Cross Signals Strength: Analyst Predicts Stock Will &#8216;Quietly&#8217; Climb Higher</a>
According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>, CSCO stock has lost over 1% in the past year. Investors can gain exposure to the stock via iShares U.S. Telecommunications ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYZ#BATS">IYZ</a>) and First Trust NASDAQ Cybersecurity ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CIBR#NASDAQ">CIBR</a>).
Earlier this month, &nbsp;VAST Data, an AI data platform company, announced it has extended its collaboration with&nbsp;Cisco to<a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/g41121126/vast-data-expands-partnership-with-cisco-to-deliver-end-to-end-full-stack-ai-infrastructure" rel="noreferrer noopener"> further simplify AI deployments for enterprises.&nbsp;</a>
&#8220;As AI adoption grows, it&#8217;s clear that data centers will be a pivotal proving ground where business is won and lost. The challenge is that the complexity with managing, configuring, updating, and patching a modern data center is only getting harder with AI,&#8221; said&nbsp;Jeremy Foster, SVP and GM of Cisco Compute.
Price Action: CSCO shares are trading higher by 0.57% to $52.73 premarket at last check Friday.
Photo via Shutterstock
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Pseudonymous technical analyst DonAlt highlighted the tension between bullish high timeframe charts and bearish low timeframe action for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) as the apex crypto rebounded <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41172667/bitcoin-ethereum-dogecoin-drop-again-continue-defying-uptober-sentiments-watch-this-key-le">back above $61,500</a>.
What Happened: In the latest podcast <a href="https://www.youtube.com/watch?v=0wODRyjcDHc">update</a>, the analyst noted Bitcoin&#8217;s return to support on the monthly chart, which is "not the best" but not overly concerning too. He added that if there were no upward movement in the next 29 days, he'd start to worry.
The weekly timeframe is "not that bad" although the analyst acknowledged the quick retrace from the previous week&#8217;s breakout. He's watching to see if Bitcoin can hold support around current levels, warning that a close below could give bears "a bunch of credibility."
DonAlt observed that the daily timeframe has "technically turned bearish," but he tends to ignore this in the current choppy market conditions. 
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41172369/bitcoin-not-a-safe-haven-but-rising-trump-odds-could-fuel-a-rally-standard-chartered">Bitcoin &#8216;Not A Safe Haven&#8217; But Rising Trump Odds Could Fuel A Rally: Standard Chartered</a>
Why It Matters: DonAlt believes $80,000 is more likely than $40,000 for Bitcoin's next major move but cautions that even if Bitcoin reaches new highs, it could come back down.
Regarding his own positioning, DonAlt reveals he has "a little bit of a Bitcoin position" around $58,000 and some Ethereum near $2,550. He&#8217;s roughly break-even overall but says he might have to close with a small loss if the downtrend continues.
DonAlt concluded by emphasizing how difficult the current market is to trade, noting that "the only people that have been making money is just that basically doubt everything."
Price Action: Bitcoin is trading around $61,750 at the time of writing, up 2.7% over the past 24 hours.
What&#8217;s Next: The influence of&nbsp;<a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment" target="_blank" rel="noreferrer noopener">Bitcoin as an institutional asset class</a>&nbsp;is expected to be thoroughly explored at Benzinga&#8217;s upcoming&nbsp;<a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a>&nbsp;event on Nov. 19.
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Image: Shutterstock

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

Cryptocurrency

$BTC

Bitcoin Rebounds Above $61,500 And $80K Is More Likely Than $40K, Says Top Technical Analyst

WIIM

VSTS

Vestis shares are trading lower after Elis terminated its discussions with the company.

<ul>
<li>NVDA</li>
<li>WAY</li>
<li>TSLA</li>
<li>MADE</li>
<li>BABA</li>
<li>CLOV</li>
<li>RIVN</li>
<li>PLTR</li>
<li>LUNR</li>
<li>LOT</li>
</ul>
Data from <a href="https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment">https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment</a>
&nbsp;

BABA

CLOV

LUNR

MADE

PLTR

RIVN

TSLA

Top 10 Trending Stocks On WallStreetBets As Of October 4, 2024 (Via Swaggy Stocks)

RBC Capital analyst Daniel Perlin maintains Global Payments (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPN#NYSE">GPN</a>) with a Outperform and lowers the price target from $158 to $143.

Price Target

Analyst Ratings

RBC Capital Maintains Outperform on Global Payments, Lowers Price Target to $143

Investment Banking Company Panmure Liberum Says Hurricane Helene Estimated To Cause $4B-$9B Insured Losses; Insured Losses Would Have To Be Above $10B For Any 'Meaningful Spillover' In The Reinsurance Market

On Friday, Hyundai Motor Company (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HYMTF#OTC">HYMTF</a>) and Waymo by Google 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>) announced in a joint statement that they have entered into a multi-year strategic collaboration. The initial phase involves integrating Waymo&#8217;s sixth-generation autonomous technology, known as the &#8220;Waymo Driver,&#8221; into Hyundai&#8217;s all-electric IONIQ 5 SUV.
What Happened: The IONIQ 5 vehicles will be manufactured at Hyundai&#8217;s new EV facility in Georgia and will join the Waymo One fleet. The companies aim to produce a significant volume of these vehicles over several years to support Waymo One&#8217;s expansion. Testing of the Waymo-enabled IONIQ 5 is expected to commence by late 2025, with availability to riders following in subsequent years, according to PRNewswire.
Waymo&#8217;s co-CEO, Tekedra Mawakana, expressed enthusiasm about the partnership, highlighting Hyundai&#8217;s commitment to sustainability and electric vehicles. José Muñoz, president and global COO of Hyundai, emphasized the shared vision of enhancing safety, efficiency, and convenience in transportation. The collaboration marks the beginning of further joint efforts between the two companies.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41157836/teslas-cybercabs-could-be-a-potential-ride-sharing-disruptor-says-analyst-heres-wha?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla&#8217;s &#8216;Cybercabs&#8217; Could Be A Potential Ride-Sharing Disruptor, Says Analyst: Here&#8217;s What Investors Can</a>
Chang Song, President of Hyundai&#8217;s Advanced Vehicle Platform Division, noted that the partnership aligns with Hyundai&#8217;s autonomous vehicle foundry initiative, which aims to support global autonomous driving companies with advanced vehicles.
The announcement comes ahead of Tesla&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41181089/tesla-robotaxi-event-might-have-3-product-announcements-but-will-likely-be-light-on"> Robotaxi event slated</a> for Oct. 10 where CEO Elon Musk is expected to reveal three vehicles.
Why It Matters: The collaboration between Hyundai and Waymo signifies a significant step in the autonomous vehicle industry. This comes at a time when Waymo&#8217;s expansion into autonomous ride-hailing services is gaining momentum. In a recent <a href="https://www.benzinga.com/markets/equities/24/09/40855784/uber-stock-spikes-as-ceo-praises-waymos-fully-autonomous-trips">partnership with Uber</a>, Waymo plans to launch autonomous ride-hailing services in Austin and Atlanta by early 2025. This collaboration will involve Uber managing a fleet of Waymo&#8217;s fully autonomous, all-electric Jaguar I-PACE vehicles.
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Image via press release
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>

Tech

GOOG

GOOGL

HYMTF

Ahead Of Tesla Robotaxi Event, Alphabet's Waymo Partners With Hyundai For Autonomous Taxi Expansion

Medtronic plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>) initiated a recall Friday to address potential battery life issues with <a href="https://www.benzinga.com/pressreleases/24/10/n41181874/voluntary-recall-notifying-medtronic-insulin-pump-users-of-potential-risks-of-shortened-pump-batte" target="_blank" rel="noreferrer noopener">its insulin pumps</a>.
As of July 31, the company has advised customers to pay close attention to their pumps&#8217; battery alerts and alarms.
The action follows reports of shortened battery life, which Medtronic linked to pumps that had been dropped or impacted.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40737587/medtronic-recalls-some-video-laryngoscopes-due-to-increased-risk-for-battery-overheat-explosion" rel="noreferrer noopener">Medtronic Recalls Some Video Laryngoscopes Due To Increased Risk For Battery Overheat, Explosion</a>.
This damage to internal electrical components may result in the pump stopping insulin delivery earlier than expected, posing risks such as hyperglycemia (high blood sugar) or diabetic ketoacidosis (DKA).
DKA is a complication of diabetes that occurs when the body doesn&#8217;t have enough insulin to use blood sugar for energy.
Medtronic&#8217;s investigation revealed that even a single drop could significantly reduce battery life, either immediately or over time.
This issue persists within the MiniMed 600 and 700 pumps even after the battery is replaced.
Additionally, battery alerts and alarms may not provide the usual warning before the pump stops insulin delivery, increasing the need for users to replace the battery as soon as the &#8220;Low Battery Pump&#8221; alarm is triggered.
Medtronic strongly advises users to carry extra AA lithium, alkaline, or fully charged NiMH batteries as a precaution.
The issue is serious, as Medtronic has received 170 reports of hyperglycemia exceeding 400 mg/dL and 11 reports of DKA in the U.S. between January 2023 and September 2024, possibly related to this problem.
The FDA has classified the action as a class I recall. That&#8217;s the most serious type of recall due to potential adverse health consequences.
Medtronic users who experience shortened battery life should contact their local support team to assess whether a replacement pump is needed.
In 2021, Medtronic expanded the Class I recall of its MiniMed 600 series insulin pumps. The company offered to replace all of them with a <a href="https://www.benzinga.com/news/21/10/23266202/medtronic-expands-recall-of-minimed-600-series-insulin-pumps" target="_blank" rel="noreferrer noopener">clear retainer ring</a>.
Price Action: MDT stock closed at $87.72 on Friday.
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</ul>
Image: Wikimedia Commons

Large Cap

Health Care

Medtronic Recalls MiniMed Pump Due To Battery Life Concerns

ULCC

Frontier Group Holdings shares are trading higher following a report suggesting Spirit Airlines is considering filing for bankruptcy. The company, a budget airline, may see a rise in passengers due to a drop in competition.

RBC Capital analyst Ashish Sabadra reiterates Intercontinental Exchange (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>) with a Outperform and maintains $200 price target.

Reiteration

RBC Capital Reiterates Outperform on Intercontinental Exchange, Maintains $200 Price Target

<a href="https://ai.meta.com/blog/movie-gen-media-foundation-models-generative-ai-video/">https://ai.meta.com/blog/movie-gen-media-foundation-models-generative-ai-video/</a>
&nbsp;
Whether a person is an aspiring filmmaker hoping to make it in Hollywood or a creator who enjoys making videos for their audience, we believe everyone should have access to tools that help enhance their creativity. Today, we're excited to premiere Meta Movie Gen, our breakthrough generative AI research for media, which includes modalities like image, video, and audio. Our latest research demonstrates how you can use simple text inputs to produce custom videos and sounds, edit existing videos, and transform your personal image into a unique video. Movie Gen outperforms similar models in the industry across these tasks when evaluated by humans.
This work is part of our long and proven track record of sharing fundamental AI research with the community. Our first wave of generative AI work started with the <a href="https://ai.meta.com/blog/greater-creative-control-for-ai-image-generation/">Make-A-Scene</a> series of models that enabled the creation of <a href="https://ai.meta.com/research/publications/make-a-scene-scene-based-text-to-image-generation-with-human-priors/">image</a>, <a href="https://audiobox.metademolab.com/">audio</a>, <a href="https://makeavideo.studio/">video</a>, and <a href="https://ai.meta.com/research/publications/meta-3d-gen/">3D animation.</a> With the advent of diffusion models, we had a second wave of work with <a href="https://ai.meta.com/research/publications/emu-enhancing-image-generation-models-using-photogenic-needles-in-a-haystack/">Llama Image</a> foundation models, which enabled higher quality generation of <a href="https://ai.meta.com/research/publications/emu-enhancing-image-generation-models-using-photogenic-needles-in-a-haystack/">images</a> and <a href="https://ai.meta.com/research/publications/factorizing-text-to-video-generation-by-explicit-image-conditioning/">video</a>, as well as <a href="https://emu-edit.metademolab.com/assets/emu_edit">image editing</a>. Movie Gen is our third wave, combining all of these modalities and enabling further fine-grained control for the people who use the models in a way that's never before been possible. Similar to previous generations, we anticipate these models enabling various new products that could accelerate creativity.
While there are many exciting use cases for these foundation models, it's important to note that generative AI isn't a replacement for the work of artists and animators. We're sharing this research because we believe in the power of this technology to help people express themselves in new ways and to provide opportunities to people who might not otherwise have them. Our hope is that perhaps one day in the future, everyone will have the opportunity to bring their artistic visions to life and create high-definition videos and audio using Movie Gen.

'How Meta Movie Gen Could Usher In A New AI-Enabled Era For Content Creators' - Meta AI

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Goldman Sachs analyst David Roman initiated coverage on Tandem Diabetes Care, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TNDM#NASDAQ">TNDM</a>) with a Neutral rating and announced a price target of $46. Tandem Diabetes Care shares fell 1.7% to close at $40.46 on Thursday. <a href="https://www.benzinga.com/quote/TNDM/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Raymond James analyst Laura Prendergast initiated coverage on Mural Oncology plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MURA#NASDAQ">MURA</a>) with a Strong Buy rating and announced a price target of $18. Mural Oncology shares gained 2.6% to close at $3.20 on Thursday. <a href="https://www.benzinga.com/quote/MURA/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Canaccord Genuity analyst George Gianarikas initiated coverage on ASP Isotopes Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASPI#NASDAQ">ASPI</a>) with a Buy rating and announced a price target of $4.5. ASP Isotopes shares gained 11.1% to close at $3.01 on Thursday. <a href="https://www.benzinga.com/quote/ASPI/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>JP Morgan analyst Michael Mueller initiated coverage on Curbline Properties Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CURB#NYSE">CURB</a>) with a Overweight rating and announced a price target of $25. Curbline Properties shares gained 4.3% to close at $22.60 on Thursday. <a href="https://www.benzinga.com/quote/CURB/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Citigroup analyst Xiaopo Wei initiated coverage on MINISO Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MNSO#NYSE">MNSO</a>) with a Buy rating and announced a price target of $26.8. MINISO Group shares fell 0.2% to close at $18.96 on Thursday. <a href="https://www.benzinga.com/quote/MNSO/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Considering buying MNSO stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="538" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04091648/image-2-11-1024x538.png" alt="" class="wp-image-580735" style="width:613px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04091648/image-2-11-1024x538.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04091648/image-2-11-300x158.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04091648/image-2-11-768x404.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04091648/image-2-11.png 1278w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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</ul>

Initiation

Pre-Market Outlook

ASPI

CURB

MNSO

MURA

TNDM

This MINISO Group Analyst Begins Coverage On A Bullish Note; Here Are Top 5 Initiations For Friday

Elis continuously considers a range of strategic opportunities. As part of its exploratory conversations around a potential entry into the US market, Elis held conversations with Vestis and UniFirst.
Both discussions have been terminated, as neither would have allowed Elis to complete a transaction that would be in line with the company's strict financial discipline.
Elis therefore remains focused on its strategy combining organic growth and value-creating acquisitions. The Group's operational know-how, its growth profile and its model based on the principles of the circular economy will enable Elis to continue to assert its leadership in all the countries in which it operates, while continuing exploring opportunities in new markets.

Termination Of Discussions With Vestis And UniFirst, Says 'Would Not Have Allowed Elis To Complete A Transaction That Would Be In Line With The Company's Strict Financial Discipline'

Vestis Shares Move Lower; Elis Announces Termination Of Discussions With Vestis And UniFirst

<a href="https://www.globenewswire.com/Tracker?data=JOSr0rL7kcJfpwXK8HvKVMOMrdsCIfPbP3P98a_Wn7l0WjDnDfpHbOBDVwJhhVa4ClIKMd9eWjsAZhbItQ0W_mrUE1VtGrZWy-Cv0hyIrBRNTgUNiHlcUC3M9R9UK6g_UTv7SivnqO59rv9pVpydWGFCdhK4hMSKU3Q6O-RGHBXjkq7bWoFP_2PP6_zepcAUBFAnS0AYmPEm6Vm06MKGij5sfc1822eHpKcZkkdaeEp7-AKCrD4g0_dm9DXaG8jKDRgWBKMLoGbFoBJYp7bK9Q==">Capricor Therapeutics</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAPR#NASDAQ">CAPR</a>), a biotechnology company developing transformative cell and exosome-based therapeutics for the treatment of rare diseases, announced today that the Company will present the three-year safety and efficacy results from its HOPE-2 open-label extension (OLE) study with lead asset deramiocel for treating Duchenne muscular dystrophy (DMD). The data will highlight the long-term, multi-modal benefits of deramiocel in a late-breaking poster presentation at the 29th&nbsp;Annual&nbsp;Congress&nbsp;of the&nbsp;World Muscle Society (WMS 2024), taking place&nbsp;October 8-12, 2024, in&nbsp;Prague, Czechia.

Biotech

CAPR

Capricor Therapeutics To Present Long-Term Data From HOPE-2 Open Label Extension Study At 2024 World Muscle Society Congress October 8-12, 2024

MACOM Technology Solns's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTSI#NYSE">MTSI</a>) short percent of float has risen 5.17% since its last report. The company recently reported that it has 3.52 million shares sold short, which is 6.31% of all regular shares that are available for trading. Based on its trading volume, it would take traders 7.59 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>MACOM Technology Solns Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728047725_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for MACOM Technology Solns has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing MACOM Technology Solns's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, MACOM Technology Solns's peer group average for short interest as a percentage of float is 4.34%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

MTSI

Looking Into MACOM Technology Solns's Recent Short Interest

Here's the major earnings after the close today

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Smart Sand (NASDAQ:<a href="https://investorplace.com/stock-quotes/snd-stock-quote/">SND</a>) just reported results for the second quarter of 2024.<ul><li>Smart Sand reported earnings per share of -1 cent. This met the analyst estimate for EPS of -1 cent.</li><li>The company reported revenue of $73.80 million.</li><li>This was 8.29% better than the analyst estimate for revenue of $68.15 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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						<a href="https://investorplace.com/2024/04/legendary-investor-predicts-forget-a-i-this-technology-is-the-future/?cid=MKT794457&amp;eid=MKT802109">Legendary Investor Predicts: &ldquo;Forget AI... THIS Technology Is the Future&rdquo;</a>
					</li>
									</ul>The post <a href="https://investorplace.com/earning-results/2024/08/snd-stock-earnings-smart-sand-for-q2-of-2024/">SND Stock Earnings: Smart Sand Meets EPS, Beats Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

SND Stock Earnings: Smart Sand Meets EPS, Beats Revenue for Q2 2024

Smart Sand Reports Strong Q2, Thoughts Ahead Of The Earnings Call

Smart Sand GAAP EPS of -$0.01 in-line, revenue of $73.8M beats by $5.65M

Smart Sand, Inc. (SND) Q2 2024 Earnings Call Transcript

Warning: SND is at high risk of performing badly

The latest update is out from Smart Sand ( ($SND) ). Smart Sand, Inc. has secured a new five-year senior secured asset-based credit facility of up ...

Smart Sand Secures New Credit Facility, Ends Previous Agreement

Smart Sand declares $0.10 dividend

Smart Sand ( ($SND) ) has issued an update. Smart Sand, Inc. has announced a special dividend of $0.10 per share and initiated an $10 million share...

Smart Sand Enhances Shareholder Returns with Dividend and Buyback

ACHV

ARMN

ASXC

BEEM

CTSO

CURI

DPRO

DRRX

FLUT

GROY

HIVE

IMOS

KNTNF

LAAC

LGMK

MRCY

NVVE

NWHUF

OUST

QFIN

QUIK

REED

RKDA

SHWZ

VTGN

WPRT

ZVRA

Opinion

Press Releases

Thinking about buying stock in Applied UV, Tilray Brands, Hyperfine, Smart Sand, or Nordic American Tankers?

Smart Sand, Inc. Announces Timing of Fourth Quarter and Full Year 2023 Earnings Release and Investor Conference Call

Earnings

Commodities

Smart Sand, Inc. Announces Fourth Quarter 2023 and Full Year 2023 Results

SMART SAND, INC. ANNOUNCES TIMING OF FIRST QUARTER 2024 EARNINGS RELEASE AND INVESTOR CONFERENCE CALL

Smart Sand, Inc. Announces First Quarter 2024 Results

SMART SAND, INC. ANNOUNCES TIMING OF SECOND QUARTER 2024 EARNINGS RELEASE AND INVESTOR CONFERENCE CALL

Sidoti Events, LLC's Virtual August Micro-Cap Conference

Smart Sand, Inc. Announces Second Quarter 2024 Results

Dividends

SMART SAND, INC. DECLARES SPECIAL DIVIDEND OF $0.10 PER SHARE AND AUTHORIZES SHARE REPURCHASE PROGRAM

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