Cramer Says 'Hot Money' Flowing From Nvidia, Apple Into China, Focus On Alibaba 'If You Must'
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Jim Cramer is sounding the alarm, but not in the way you might expect. For those bullish on Nvidia Corp (NASDAQ:NVDA) and Apple Inc (NASDAQ:AAPL), Cramer’s latest take might be hard to swallow.
Hot Money Streaming Out Of Nvidia, Apple
In a tweet, Cramer said, “The hot money is streaming out of Nvidia and Apple and into China. Let it stream. Do not defend these now. Let this money leave. On China only BABA has actual fundamentals if you must… But let it rain here. Get all of these short Nvidia options and ETFs to play out.”
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The reasoning? Cramer hints that Nvidia’s sky-high valuations and Apple’s post-iPhone slump might leave them vulnerable to short-term pain. If you’re holding Nvidia options or ETFs, Cramer believes you might want to ride the short wave.
Cramer’s suggestion is a subtle signal that a pullback could be looming, especially as investor sentiment shifts and valuations begin to look more stretched than a Friday-night binge-watch.
The GraniteShares 2x Short NVDA Daily ETF (NASDAQ:NVD) and the Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) are inverse ETFs positioned to gain on Nvidia stock’s underperformance. Investors in the Direxion Daily AAPL Bear 1X Shares (NASDAQ:AAPD) gain when Apple shares underperform.
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Only Alibaba Has Actual Fundamentals, Says Jim Cramer
Meanwhile, where should the more adventurous traders look? According to Cramer, only one Chinese juggernaut is worth considering amid the capital outflows into China: Alibaba Group Holdings Ltd (NYSE:BABA) (NYSE:BABAF).
The e-commerce giant, despite facing regulatory hurdles, is backed by solid fundamentals. The GraniteShares 2x Long BABA Daily ETF (NASDAQ:BABX) provides leveraged exposure to Alibaba shares. Other ETFs with substantial allocation to Alibaba shares in their portfolio include the iShares MSCI China ETF (NASDAQ:MCHI) (8.96% Alibaba stock), iShares China Large-Cap ETF (NYSE:FXI) (9.03% Alibaba stock) and the KraneShares CSI China Internet ETF (NYSE:KWEB) (11.05% allocation to Alibaba stock).
If you must dip into the Chinese markets, BABA might be your best bet—just don’t expect smooth sailing.
Cramer’s latest recommendation suggests patience with Nvidia and Apple, letting short sellers have their moment, and keeping a cautious but interested eye on Alibaba’s potential for a rebound.
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This article Cramer Says ‘Hot Money’ Flowing From Nvidia, Apple Into China, Focus On Alibaba ‘If You Must’ originally appeared on Benzinga.com
PepsiCo, MEDIROM Healthcare Technologies And 3 Stocks To Watch Heading Into Tuesday
With U.S. stock futures trading lower this morning on Tuesday, some of the stocks that may grab investor focus today are as follows:
- Wall Street expects PepsiCo, Inc. PEP to report quarterly earnings at $2.29 per share on revenue of $23.83 billion before the opening bell, according to data from Benzinga Pro. PepsiCo shares fell 0.5% to close at $167.21 on Monday.
- MEDIROM Healthcare Technologies Inc. MRM said it acquired all of the rehabilitation centers of Y’s, Inc. However, the terms of the transaction were not disclosed. MEDIROM Healthcare shares gained 7.2% to $2.84 in the after-hours trading session.
- Analysts are expecting Accolade, Inc. ACCD to post a quarterly loss at 44 cents per share on revenue of $105.01 million. The company will release earnings before the markets open. Accolade shares gained 3% to $4.0899 in after-hours trading.
Check out our premarket coverage here
- Benchmark Electronics, Inc. BHE named Bryan Schumaker as the company’s chief financial officer effective Oct. 8. Benchmark Electronics shares fell 0.1% to $43.69 in the after-hours trading session.
- Analysts expect Saratoga Investment Corp. SAR to post quarterly earnings at 94 cents per share on revenue of $37.12 million after the closing bell. Saratoga Investment shares gained 0.8% to $23.45 in after-hours trading.
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60% Off: A $25M Mansion On New York's Gold Coast Just Sold At A Massive Discount
A Hudson Valley mansion that made headlines in the Wall Street Journal in 2021 for its $45 million asking price has just sold for $11.15 million – a 60% discount that marks just how dramatically the luxury real estate market has shifted over the past three years.
The property, known as Ledgerock, spans 10.7 acres along the Hudson River in Hyde Park, New York. Built by real estate investor Jacob Frydman and his wife Monica, the 15,000-square-foot limestone and glass residence was completed in 2010 after five years of construction.
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The Frydmans spent years assembling the property, starting with a $1.5 million purchase of a 5-acre waterfront parcel in 2005.
The home’s original listing in 2021 came during a very different real estate climate. Record-low interest rates had fueled a pandemic buying frenzy, pushing home prices to new heights. In Dutchess County, where Ledgerock is located, the average sale price had jumped 20% year-over-year to $317,500 in the third quarter of 2021.
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Fast-forward to 2024 and the market landscape has changed dramatically. While home prices nationally continue to ebb at record highs – reaching $420,600 in August, according to Zillow data – the luxury market shows resilience despite individual price adjustments.
Philip A. White Jr., President and chief executive officer of Sotheby’s International Realty, said in a midyear market outlook that luxury listings continue to outperform the general market. Outstanding properties in sought-after locations attract strong interest and often sell at premium prices.
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According to the original Wall Street Journal report, the limestone-clad mansion features rare finishes throughout, including exotic wood, handcrafted stonework by European artisans and custom furniture inspired by Art Deco designer Émile-Jacques Ruhlmann. Its dramatic setting on the Hudson River required innovative engineering, with an all-steel superstructure anchored to bedrock and design elements to protect against storm surge.
Despite the steep price reduction, the $11.15 million sale still ranks among the largest in Dutchess County history, though well below the area’s record – an $18.375 million estate sale in Millbrook in 2011.
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The high-profile discount comes as the broader housing market faces conflicting pressures.
While mortgage rates have recently dipped to as low as 6.11% after reaching a 23-year high of 8% in October last year, home prices remain at historic highs due to persistent inventory shortages.
Unlike the lead-up to the 2008 housing crash, today’s market is characterized by strict lending standards and limited housing supply rather than speculation and overbuilding.
For the Frydmans, the sale closes a chapter on their Hudson Valley dream home, which they originally built as a gathering place for their blended family. In 2021, they explained their decision to sell to the Wall Street Journal, noting their adult children had “scattered” and they wanted to travel more to visit grandchildren.
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Nasdaq Surges Over 1%; DocuSign Shares Spike Higher
U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining over 1% on Tuesday.
The Dow traded up 0.20% to 42,038.02 while the NASDAQ rose 1.15% to 18,130.89. The S&P 500 also rose, gaining, 0.77% to 5,739.69.
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Leading and Lagging Sectors
Information technology shares jumped by 1.6% on Tuesday.
In trading on Tuesday, energy shares dipped by 2.4%.
Top Headline
The trade deficit in the U.S. shrank to $70.4 billion in August, recording the lowest level in five months, compared to a revised $78.9 billion gap in July and versus market estimates of a $70.6 billion shortfall.
Equities Trading UP
- Alternus Clean Energy Inc ALCE shares shot up 13% to $0.1690. Alternus shed $100 million of debt and payables, improved shareholder equity position by Circa $45 million from disposal of certain subsidiaries.
- Shares of Bio-Path Holdings, Inc. BPTH got a boost, surging 18% to $1.0199. The company initiated a therapeutic program to develop BP1001-A for treating obesity and related metabolic diseases. This program marks the first application of DNAbilize technology to develop a non-cancer application.
- DocuSign, Inc. DOCU shares were also up, gaining 8% to $67.94 after it was announced the company will join the S&P MidCap 400.
Equities Trading DOWN
- ZJK Industrial Co., Ltd. ZJK shares dropped 27% to $4.97 after gaining 35% on Monday.
- Shares of JinkoSolar Holding Co., Ltd. JKS were down 19% to $26.54.
- Lufax Holding Ltd LU was down, falling 15% to $3.39. Shares of US-listed Chinese stocks traded lower after Chinese planning officials reportedly fell short of investor stimulus expectations.
Commodities
In commodity news, oil traded down 3.8% to $74.20 while gold traded down 1.2% at $2,634.70.
Silver traded down 4.4% to $30.610 on Tuesday, while copper fell 2.4% to $4.4560.
Euro zone
European shares closed mostly lower today. The eurozone’s STOXX 600 fell 0.55%, Germany’s DAX fell 0.20% and France’s CAC 40 fell 0.72%. Spain’s IBEX 35 Index rose 0.15%, while London’s FTSE 100 fell 1.36%.
France’s trade deficit increased to €7.4 billion in August versus a revised €6.0 billion gap in the previous month. Germany’s industrial production rose by 2.9% month-over-month in August, compared to a revised 2.9% fall in the previous month,
Asia Pacific Markets
Asian markets closed mostly lower on Tuesday, with Japan’s Nikkei 225 falling 1%, Hong Kong’s Hang Seng Index dipping 9.41%, China’s Shanghai Composite Index falling 4.59% and India’s BSE Sensex gaining 0.72%.
The gauge for Japan’s service sector fell to 47.8 in September compared to 49.0 in the prior month. Japan’s current account surplus widened to JPY 3,803.6 billion in August from JPY 2,293.8 billion in the year-ago month.
Economics
- The NFIB Small Business Optimism Index rose to 91.5 in September compared to 91.2 in August, and down from market estimates of 91.7.
- The trade deficit in the U.S. shrank to $70.4 billion in August, recording the lowest level in five months, compared to a revised $78.9 billion gap in July and versus market estimates of a $70.6 billion shortfall.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Oil retreats as investors pare bets on Middle East war risk after sharp rally
By Erwin Seba
HOUSTON (Reuters) -Oil prices slid on Tuesday, settling down more than 4% on news of a possible ceasefire between Hezbollah and Israel, although prices found some support on fears of a potential attack on Iranian oil infrastructure.
Brent crude futures settled down $3.75, or 4.63%, at $77.18 a barrel. U.S. West Texas Intermediate futures finished down $3.57, or 4.63%, at $73.57 a barrel. At their session lows, both were down more than $4 a barrel.
“We continue to be very headline dependent,” said John Kilduff, partner with Again Capital LLC. “This morning, we heard about the potential ceasefire. Then we got indications targets are still being dialed in and energy targets are in the mix.”
“That Hezbollah is open to a ceasefire, is the kind of headline that people jump on,” said Phil Flynn, senior analyst at Price Futures Group. “There should be a lot of volatility up and down on this conflict.”
On Monday, Brent rose above $80 per barrel for the first time since August after more than a 3% daily gain. That followed the largest weekly gain in over a year, roughly 8%, in the week to Friday on rising concerns of a spreading war in the Middle East.
Hezbollah left the door open to a negotiated ceasefire after Israeli forces raised the stakes in the conflict with its Iran-backed enemy by making new incursions in the south of Lebanon.
Israeli defense minister Yoav Gallant said it appeared the replacement for slain Hezbollah leader Sayyed Hassan Nasrallah had also been eliminated.
Late on Tuesday, Israel’s military warned people away from specific buildings in the southern suburbs of Beirut.
The oil price rally began after Iran launched a missile barrage at Israel on Oct. 1. Israel has sworn to retaliate and said it was weighing its options.
Some analysts said an attack on Iranian oil infrastructure was unlikely and warned oil prices could face considerable downward pressure if Israel focuses on any other target.
In the U.S., Hurricane Milton intensified into a Category 5 storm on its way to Florida after forcing at least one oil and gas platform in the Gulf of Mexico to shut on Monday.
Traders will look for the latest U.S. crude oil inventory data, with analysts expecting stocks to rise by 1.9 million barrels in the week ended Oct. 4, according to a preliminary Reuters poll.
The American Petroleum Institute is due to post its tally of U.S. stockpiles at 2030 GMT on Tuesday, followed by official data from the Energy Information Administration on Wednesday.
(Reporting by Erwin Seba in Houston; Additional reporting by Arunima Kumar and Robert Harvey in London and Emily Chow in Singapore; Editing by David Evans, Mark Potter, Emelia Sithole-Matarise, Bill Berkrot and David Gregorio)
What To Expect When Johnson & Johnson Reports Q3 Earnings Next Week?
Monday, Johnson & Johnson JNJ said it discontinued the Phase 3 SunRISe-2 trial of TAR-200 in combination with cetrelimab versus concurrent chemoradiotherapy for muscle-invasive urothelial carcinoma (MIBC) patients who are not receiving radical cystectomy.
Following an Independent Data Monitoring Committee recommendation and pre-specified interim analysis, SunRISe-2 was discontinued for not showing superiority versus chemoradiation.
“We remain confident in the TARIS platform having over $5 billion potential,” Johnson & Johnson notes.
Data from the SunRISe-4 study recently presented at the 2024 European Society for Medical Oncology Congress show the potential of TAR-200 in MIBC.
Also Read: Johnson & Johnson Ends Phase 2 Study For Dengue Antiviral Amid R&D Reprioritization.
The company says it is on target for the FDA filing of TAR-200 monotherapy (SunRISe-1) in non-muscle invasive bladder cancer in early 2025, with the SunRISe-3 and SunRISe-5 studies underway.
Johnson & Johnson is set to release its third quarter 2024 earnings next Wednesday, 15 October. As per data from Benzinga Pro, the analysts estimate adjusted EPS of $2.20 and revenue of $22.13 billion.
Goldman Sachs has reiterated its Neutral rating while increasing the price target from $155 to $162.
The analyst expects the pharma giant to report third-quarter results in line with consensus expectations on the top line with revenues of $22.26 billion, with year-over-year growth of +4.4%, representing a slight incremental deceleration in the pace of growth from the first half of 2024.
Goldman Sachs’ outlook for the quarter remains mostly consistent overall, with a slight upward revision to the Innovative Medicine forecast compared to estimates following the second-quarter results. This improvement is attributed to potentially less impact from introducing biosimilar Stelara in Europe during the third quarter.
This adjustment helps counterbalance a modest reduction in the MedTech segment forecasts.
“We expect management to reiterate guidance on the FY25 revenue growth outlook of +3% or more, and for longer-term targets (Innovative Medicine growth at a CAGR of 5-7% from 2025-30, and growth at the upper end of the 5-7% CAGR for MedTech from 2023-27) to remain intact,” the analyst writes.
Price Action: JNJ stock is down 0.21% at $159.20 at last check Tuesday.
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AngioDynamics Loses -15.86% in 4 Weeks, Here's Why a Trend Reversal May be Around the Corner
A downtrend has been apparent in AngioDynamics ANGO lately with too much selling pressure. The stock has declined 15.9% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company’s ability to report better earnings than they predicted earlier, the stock could be due for a turnaround.
How to Determine if a Stock is Oversold
We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.
RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.
Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock’s price is reaching a point of reversal.
So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefitting from the inevitable rebound.
However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.
Why a Trend Reversal is Due for ANGO
The RSI reading of 24.7 for ANGO is an indication that the heavy selling could be in the process of exhausting itself, so the stock could bounce back in a quest for reaching the old equilibrium of supply and demand.
The RSI value is not the only factor that indicates a potential turnaround for the stock in the near term. On the fundamental side, there has been strong agreement among the sell-side analysts covering the stock in raising earnings estimates for the current year. Over the last 30 days, the consensus EPS estimate for ANGO has increased 0.8%. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.
Moreover, ANGO currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock’s potential turnaround in the near term.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Astaxanthin Market to Reach $1.6 Billion, Globally, by 2033 at 8.1% CAGR: Allied Market Research
Wilmington, Delaware, Oct. 08, 2024 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Astaxanthin Market by Source (Natural and Synthetic), Form (Dry and Liquid), and Application (Dietary supplements, Cosmetics and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033″. According to the report, the astaxanthin market was valued at $0.8 billion in 2023, and is estimated to reach $1.6 billion by 2033, growing at a CAGR of 8.1% from 2024 to 2033.
The global astaxanthin market is experiencing growth due to increase in the awareness of benefits of astaxanthin and innovation in production.
Request Sample of the Report on Astaxanthin Market 2033 – https://www.alliedmarketresearch.com/request-sample/A324369
Prime determinants of growth
The global astaxanthin market is experiencing growth due to several factors such as rise in awareness about the health benefits of antioxidants and increased consumer interest in natural and organic supplements. Further, rising demand for natural and effective ingredients in skincare products. with anti-aging and UV-protection properties of astaxanthin are driving its use in premium cosmetic products. Moreover, improved methods of astaxanthin extraction and production, leading to higher yields and better quality, making astaxanthin more accessible and affordable.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2035 |
| Base Year | 2023 |
| Market Size in 2023 | $0.75 billion |
| Market Size in 2033 | $1.63 billion |
| CAGR | 8.0% |
| No. of Pages in Report | 280 |
| Segments Covered | Source, Form, Application, and Region. |
| Drivers |
|
| Opportunities |
|
| Restraint |
|
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Segment Highlights
Natural segment dominated the market in 2023
By source, the dominance of natural astaxanthin in 2023 is driven by several key factors that align with current consumer preferences and industry trends. Consumers are increasingly favoring natural and organic products over synthetic alternatives. This shift is driven by growing health awareness and concerns about the potential side effects of synthetic ingredients. Natural astaxanthin, derived from sources such as microalgae and yeast, is perceived as safer and more beneficial, making it more attractive to health-conscious consumers.
Dry segment dominated the market in 2023
By form, the dominance of dry astaxanthin in 2023 is driven by several key factors as dry astaxanthin offers superior stability compared to liquid forms. The powdered form has a longer shelf life, making it more appealing to manufacturers and consumers who seek products with extended usability and minimal degradation over time. Dry astaxanthin is highly versatile and can be easily incorporated into various products such as capsules, tablets, and powder blends. This flexibility makes it a preferred choice for dietary supplements, functional food, and beverage formulations. Its powdered form allows for precise dosing and easy mixing with other ingredients.
Dietary supplements are expected to be lucrative by 2033
By application, the growth of dietary supplements astaxanthin is driven by several key factors. As people become more health-conscious, there is a growing awareness of the benefits of dietary supplements. Consumers are actively seeking products that support overall health, boost immunity, and prevent chronic diseases. This increased health awareness is driving the demand for dietary supplements.
Regional Outlook
By region, North America held the largest market share in terms of revenue in 2023 and is expected to dominate the market during the forecast period. This is attributed to its advanced technology, strong demand & availability of astaxanthin, supportive regulatory environment, and collaborative ecosystem fostering innovation and growth in the astaxanthin market. However, the Asia-Pacific region is expected to witness rapid industrialization in countries such as China and India, which has led to the establishment and expansion of manufacturing facilities, including advancements and accessibility of astaxanthin products. This is expected to drive the market growth during the forecast period.
For Purchase Related Queries/Inquiry – https://www.alliedmarketresearch.com/purchase-enquiry/A324369
Key Players: –
- Divis Laboratories Limited
- Cyanotech Corporation
- Otsuka Pharmaceutical Co.
- Fuji Chemical Industries Company Limited
- Kunming Biogenic Company Limited
The report provides a detailed analysis of these key players in the global astaxanthin market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Tenable Cloud Risk Report Sounds the Alarm on Toxic Cloud Exposures Threatening Global Organizations
COLUMBIA, Md., Oct. 08, 2024 (GLOBE NEWSWIRE) — Tenable®, the exposure management company, today released its 2024 Tenable Cloud Risk Report, which examines the critical risks at play in modern cloud environments. Most alarmingly, nearly four in 10 organizations globally are leaving themselves exposed at the highest levels due to the “toxic cloud triad” of publicly exposed, critically vulnerable and highly privileged cloud workloads. Each of these misalignments alone introduces risk to cloud data, but the combination of all three drastically elevates the likelihood of exposure access by cyber attackers.
Security gaps caused by misconfigurations, risky entitlements and vulnerabilities combine to dramatically increase cloud risk. The Tenable Cloud Risk Report provides a deep dive into the most pressing cloud security issues observed in the first half of 2024, highlighting areas such as identities and permissions, workloads, storage resources, vulnerabilities, containers and Kubernetes. It also offers mitigation guidance for organizations seeking ways to limit exposures in the cloud.
Publicly exposed and highly privileged cloud data lead to data leaks. Critical vulnerabilities exacerbate the likelihood of incidents. The report reveals that a staggering 38% of organizations have cloud workloads that meet all three of these toxic cloud triad criteria, representing a perfect storm of exposure for cyber attackers to target. When bad actors exploit these exposures, incidents commonly include application disruptions, full system takeovers, and DDoS attacks that are often associated with ransomware. Scenarios like these could devastate an organization, with the 2024 average cost of a single data breach approaching $5 million.1
Additional key findings from the report include:
- 84% of organizations have risky access keys to cloud resources: The majority of organizations (84.2%) possess unused or longstanding access keys with critical or high severity excessive permissions, a significant security gap that poses substantial risk.
- 23% of cloud identities have critical or high severity excessive permissions: Analysis of Amazon Web Services (AWS), Google Cloud Platform (GCP) and Microsoft Azure reveals that 23% of cloud identities, both human and non-human, have critical or high severity excessive permissions.
- Critical vulnerabilities persist: Notably, CVE-2024-21626, a severe container escape vulnerability that could lead to the server host compromise, remained unremediated in over 80% of workloads even 40 days after its publishing.
- 74% of organizations have publicly exposed storage: 74% of organizations have publicly exposed storage assets, including those in which sensitive data resides. This exposure, often due to unnecessary or excessive permissions, has been linked to increased ransomware attacks.
- 78% of organizations have publicly accessible Kubernetes API servers: Of these, 41% also allow inbound internet access. Additionally, 58% of organizations have cluster-admin role bindings — which means that certain users have unrestricted control over all the Kubernetes environments.
“Our report reveals that an overwhelming number of organizations have access exposures in their cloud workloads of which they may not even be aware,” said Shai Morag, chief product officer, Tenable. “It’s not always about bad actors launching novel attacks. In many instances, misconfigurations and over-privileged access represent the highest risk for cloud data exposures. The good news is, many of these security gaps can be closed easily once they are known and exposed.”
The report reflects findings by the Tenable Cloud Research team based on telemetry from billions of cloud resources across multiple public cloud repositories, analyzed from January 1 through June 30, 2024.
To download the report today, please visit: https://www.tenable.com/cyber-exposure/tenable-cloud-risk-report-2024
1 IBM Security Cost of a Data Breach Report 2024
About Tenable
Tenable® is the exposure management company, exposing and closing the cybersecurity gaps that erode business value, reputation and trust. The company’s AI-powered exposure management platform radically unifies security visibility, insight and action across the attack surface, equipping modern organizations to protect against attacks from IT infrastructure to cloud environments to critical infrastructure and everywhere in between. By protecting enterprises from security exposure, Tenable reduces business risk for more than 44,000 customers around the globe. Learn more at tenable.com.
Media Contact:
Tenable
tenablepr@tenable.com
A video accompanying this release is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/532ee720-34f5-486e-89cc-4ea7531a7fc9
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Hock E Tan Executes Sell Order: Offloads $6.94M In Broadcom Stock
Disclosed on October 7, Hock E Tan, President and CEO at Broadcom AVGO, executed a substantial insider sell as per the latest SEC filing.
What Happened: After conducting a thorough analysis, Tan sold 40,000 shares of Broadcom. This information was disclosed in a Form 4 filing with the U.S. Securities and Exchange Commission on Monday. The total transaction value is $6,943,980.
Broadcom‘s shares are actively trading at $179.25, experiencing a up of 2.38% during Tuesday’s morning session.
Get to Know Broadcom Better
Broadcom is the sixth-largest semiconductor company globally and has expanded into various software businesses, with over $30 billion in annual revenue. It sells 17 core semiconductor product lines across wireless, networking, broadband, storage, and industrial markets. It is primarily a fabless designer but holds some manufacturing in-house, like for its best-of-breed FBAR filters that sell into the Apple iPhone. In software, it sells virtualization, infrastructure, and security software to large enterprises, financial institutions, and governments.Broadcom is the product of consolidation. Its businesses are an amalgamation of former companies like legacy Broadcom and Avago Technologies in chips, as well as Brocade, CA Technologies, and Symantec in software.
Broadcom’s Financial Performance
Revenue Growth: Broadcom’s remarkable performance in 3 months is evident. As of 31 July, 2024, the company achieved an impressive revenue growth rate of 47.27%. This signifies a substantial increase in the company’s top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Information Technology sector.
Profitability Metrics: Unlocking Value
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Gross Margin: The company sets a benchmark with a high gross margin of 63.92%, reflecting superior cost management and profitability compared to its peers.
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Earnings per Share (EPS): Broadcom’s EPS reflects a decline, falling below the industry average with a current EPS of -0.4.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 1.07, caution is advised due to increased financial risk.
Valuation Overview:
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Price to Earnings (P/E) Ratio: The current Price to Earnings ratio of 141.53 is higher than the industry average, indicating the stock is priced at a premium level according to the market sentiment.
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Price to Sales (P/S) Ratio: A higher-than-average P/S ratio of 17.35 suggests overvaluation in the eyes of investors, considering sales performance.
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EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation & Amortization): Broadcom’s EV/EBITDA ratio, surpassing industry averages at 40.12, positions it with an above-average valuation in the market.
Market Capitalization: Positioned above industry average, the company’s market capitalization underscores its superiority in size, indicative of a strong market presence.
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Uncovering the Importance of Insider Activity
Considering insider transactions is valuable, but it’s crucial to evaluate them in conjunction with other investment factors.
In the context of legal matters, the term “insider” refers to any officer, director, or beneficial owner holding more than ten percent of a company’s equity securities, as outlined by Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and significant hedge funds. Such insiders are obligated to report their transactions through a Form 4 filing, which must be completed within two business days of the transaction.
Pointing towards optimism, a company insider’s new purchase signals their positive anticipation for the stock to rise.
Despite insider sells not always signaling a bearish sentiment, they can be driven by various factors.
Exploring Key Transaction Codes
Surveying the realm of stock transactions, investors often give prominence to those unfolding in the open market, systematically detailed in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C denotes the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
Check Out The Full List Of Broadcom’s Insider Trades.
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