19.11.2024 - Page 21 of 22 - STOCKBURGER NEWS

Earnings News

Earnings Scheduled For November 19, 2024

19.11.2024 by admin

Companies Reporting Before The Bell

• Star Equity Hldgs STRR is likely to report quarterly loss at $0.32 per share on revenue of $13.15 million.

• EuroDry EDRY is projected to report quarterly loss at $0.23 per share on revenue of $19.14 million.

• S&W Seed SANW is expected to report quarterly loss at $1.40 per share on revenue of $17.00 million.

• GDS Holdings GDS is likely to report quarterly loss at $0.21 per share on revenue of $415.42 million.

• Valvoline VVV is expected to report quarterly earnings at $0.42 per share on revenue of $432.47 million.

• Energizer Hldgs ENR is likely to report quarterly earnings at $1.17 per share on revenue of $805.43 million.

• Jacobs Solutions J is likely to report quarterly earnings at $1.37 per share on revenue of $3.01 billion.

• Kingsoft Cloud Hldgs KC is likely to report quarterly loss at $0.14 per share on revenue of $247.64 million.

• Atour Lifestyle Holdings ATAT is expected to report quarterly earnings at $0.36 per share on revenue of $264.74 million.

• MYT Netherlands Parent MYTE is estimated to report quarterly loss at $0.06 per share on revenue of $203.93 million.

• Lowe’s Companies LOW is expected to report quarterly earnings at $2.82 per share on revenue of $19.94 billion.

• Vipshop Holdings VIPS is projected to report quarterly earnings at $0.33 per share on revenue of $2.91 billion.

• Weibo WB is expected to report quarterly earnings at $0.44 per share on revenue of $435.98 million.

• Walmart WMT is estimated to report quarterly earnings at $0.53 per share on revenue of $167.72 billion.

• Viking Holdings VIK is expected to report quarterly earnings at $0.85 per share on revenue of $1.66 billion.

• Danimer Scientific DNMR is likely to report quarterly loss at $0.20 per share on revenue of $8.57 million.

• Northern Technologies NTIC is likely to report quarterly earnings at $0.19 per share on revenue of $22.50 million.

• Eltek ELTK is likely to report quarterly earnings at $0.31 per share on revenue of $12.40 million.

• Futu Hldgs FUTU is expected to report quarterly earnings at $0.97 per share on revenue of $347.63 million.

• Allot ALLT is estimated to report quarterly loss at $0.03 per share on revenue of $22.80 million.

• Elbit Systems ESLT is likely to report quarterly earnings at $1.86 per share on revenue of $1.61 billion.

• XPeng XPEV is estimated to report quarterly loss at $0.27 per share on revenue of $1.38 billion.

• Amer Sports AS is projected to report quarterly earnings at $0.10 per share on revenue of $1.30 billion.

• Medtronic MDT is projected to report quarterly earnings at $1.25 per share on revenue of $8.27 billion.

• Oaktree Specialty Lending OCSL is estimated to report quarterly earnings at $0.56 per share on revenue of $96.90 million.

Companies Reporting After The Bell

• Workhorse Gr WKHS is projected to report quarterly loss at $0.82 per share on revenue of $4.68 million.

• XP XP is likely to report quarterly earnings at $0.40 per share on revenue of $772.20 million.

• AZEK Co AZEK is likely to report quarterly earnings at $0.27 per share on revenue of $339.99 million.

• Algorhythm Holdings RIME is estimated to report earnings for its third quarter.

• Sociedad Quimica Y Minera SQM is likely to report quarterly earnings at $0.66 per share on revenue of $1.09 billion.

• StoneX Group SNEX is estimated to report quarterly earnings at $2.05 per share on revenue of $462.98 million.

• Kore Group Holdings KORE is estimated to report quarterly loss at $0.63 per share on revenue of $67.90 million.

• ReNew Energy Glb RNW is expected to report quarterly earnings at $0.12 per share on revenue of $313.59 million.

• Qifu Technology QFIN is likely to report quarterly earnings at $1.42 per share on revenue of $588.49 million.

• Star Bulk Carriers SBLK is expected to report quarterly earnings at $0.99 per share on revenue of $305.05 million.

• Powell Industries POWL is likely to report quarterly earnings at $3.55 per share on revenue of $286.49 million.

• La-Z-Boy LZB is estimated to report quarterly earnings at $0.64 per share on revenue of $505.98 million.

• Auna AUNA is projected to report quarterly earnings at $0.21 per share on revenue of $297.67 million.

• Varex Imaging VREX is expected to report quarterly earnings at $0.09 per share on revenue of $200.54 million.

• Keysight Techs KEYS is likely to report quarterly earnings at $1.57 per share on revenue of $1.26 billion.

• ZTO Express (Cayman) ZTO is estimated to report quarterly earnings at $0.41 per share on revenue of $1.48 billion.

• Dolby Laboratories DLB is estimated to report quarterly earnings at $0.70 per share on revenue of $307.94 million.

• Golub Capital BDC GBDC is expected to report quarterly earnings at $0.44 per share on revenue of $234.39 million.

This article was generated by Benzinga’s automated content engine and reviewed by an editor.

Markets News

Nvidia Shares To Climb Over $140+ Levels, Says Technical Analyst Ahead Of Q3 Results: '…Will Have To Beat Street Expectations For The Trend To Continue'

19.11.2024 by admin

The world’s largest market capitalization company, Nvidia Corp NVDA, will report its September quarter earnings on Wednesday, Nov. 20. The street is keenly waiting for the company to report its financials as its shares have risen 191% year-to-date but declined by 2.5% over the last month.

On a year-to-date basis, Nvidia has outperformed the Nasdaq 100 Index, which grew by 24%, whereas, the technology company has underperformed the index in the last month, following Nasdaq 100’s growth of 0.87%.

What Happened: While many analysts expect good results from the chipmaker, technical analyst, and chief investment officer at NeoTrader, Dr C.K. Narayan says that “the trend is resolute in Nvidia charts.” He expects the stock to trade upwards of $140 per share if the third-quarter financials beat the street expectations.

#NVDA Tomorrow is big day as NVDA reports. The trend is resolute in NVDA no doubt, but I espy some supply emerging at 140+ levels in the stock. So, good numbers will have to beat Street expectations for the trend to continue. Depends on what is baked in already. pic.twitter.com/vQDcoIGQ2F

— Dr.C.K.Narayan (@CK_Narayan) November 19, 2024

Earnings Expectations

Nvidia, led by Jensen Huang has forecasted third-quarter revenue of approximately $32.5 billion, driven by strong demand for its Hopper and Blackwell GPUs.

These GPUs are expected to bolster Nvidia’s data center segment. The Blackwell units, priced between $30,000 and $40,000, are in high demand, with production ramping up in the fourth quarter of 2024.

Nvidia is fully supply-constrained on new products, which could limit the potential upside for the current quarter and the company’s outlook, said Joseph Moore, a Morgan Stanley analyst. Morgan Stanley maintains Nvidia as a top pick with an ‘overweight’ rating, raising the price target from $150 to $160.

Also read: Nvidia’s Blackwell Chip Revenue Could Hit $6 Billion Next Quarter: Analyst

Historical Nvidia Earnings Data

According to a recent Benzinga report and Benzinga Pro data over the last 12 quarters, Nvidia has exceeded earnings-per-share (EPS) expectations 10 times and missed revenue expectations only once.

On average, Nvidia shares moved 5.3% in the single trading day following its earnings release.

The largest 1-day gain followed its first quarter 2024 earnings, when the stock surged 24.4%, while the worst reaction occurred after fourth quarter 2024 results, with a decline of 7.6%.

Here’s a snapshot of the company’s recent earnings performance:

Image via Shutterstock

Market News and Data brought to you by Benzinga APIs

Lastest news News

Bitfinex Bitcoin Laundering Case Lands 'Crocodile Of Wall Street' In Jail

19.11.2024 by admin

Rapper Heather Morgan, known as the ‘Crocodile of Wall Street’, is set to serve 18 months in prison for conspiring with her hacker husband to launder billions of dollars of stolen Bitcoin BTC/USD.

What Happened: Morgan, 34, was sentenced on Monday in a federal court in Washington for her role in the sensational cyberattack on cryptocurrency exchange Bitfinex in 2016, according to a report by Bloomberg. Her spouse and hack mastermind, Ilya Lichtenstein, has already been awarded a five-year sentence.

Morgan became a well-known figure in Twitter’s (now X) high-finance community for posting obscure rap videos under the moniker “The Crocodile of Wall Street.”

Why It Matters: Morgan and Lichtenstein were charged by the Justice Department in February 2022 in what has been described by authorities as one of the most sophisticated money-laundering operations ever encountered in the cryptocurrency space.

The hack targeted Hong Kong-based exchange Bitfinex in 2016, compromising 36% of the company’s assets. About 119,754 BTCs were stolen in the attack, worth about $71 million at that time and over $11 billion today. By 2022, the couple had successfully laundered around 21% of the stolen funds, worth $14 million at 2016 prices and exceeding $1 billion in 2022.

Authorities recovered over 96% of the stolen Bitcoin, valued at over $6 billion, thanks in part to Lichtenstein’s cooperation following his arrest in 2022.

Last year, the couple pleaded guilty to charges. Morgan, who was not part of the original hack, was enlisted by Lichtenstein to launder the stolen digital currency.

Price Action: At the time of writing, Bitcoin was trading at $91,943.90, up 0.84% in the last 24 hours, according to data from Benzinga Pro.

Photo Courtesy: Shutterstock.com

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News Real estate

California leaders call for bold solutions to solve State housing crisis at Summit

19.11.2024 by admin

LOS ANGELES, Nov. 18, 2024 /PRNewswire/ — Top housing industry experts from across the state and nation gathered last month for the Center for California Real Estate’s flagship event of the year, the CCRE Housing Summit: Charting California’s Future. The forum brought together academics, state and local officials, and private sector experts to examine California’s political and socioeconomic landscape, homeownership trends, and strategies to expand housing supply.

Featuring keynotes from Senate President pro Tempore Emeritus Toni G. Atkins and Nobel laureate Dr. Douglas W. Diamond, the forum sparked critical conversations on the state’s housing crisis, drawing hundreds of attendees across California. The event built upon a year of CCRE dialogue on many converging issues around housing — yielding important emerging insights and setting the stage for crucial conversations in 2025.

Key among those shared during the Housing Summit include:

1. California’s affordability crisis demands urgency to expand options for the “missing middle.”

The state’s affordability crisis is described as “the biggest threat to California’s vitality,” according to Tomiquia Moss, California Business, Consumer Services, and Housing Secretary. Moss said that more than two-thirds of Californians today spend over 30 percent of their income on rent, stressing that “housing is foundational to all the other ways in which Californians live our lives,” influencing everything from health to educational outcomes. However, Moss noted that past efforts to address affordability have primarily centered on providing shelter for the elderly and unhoused, leaving little attention to the “missing middle” or first-time homebuyers.

Shane Phillips, Housing Initiative Manager, UCLA Lewis Center for Regional Policy Studies, agreed. “We do need more deed-restricted, affordable housing, but we also need a lot more market-rate housing and pitting these two things against each other has caused us a lot of problems,” Phillips said.

Los Angeles has struggled to deliver adequate supply, particularly for middle-income earners, according to Mary Leslie, President, Los Angeles Business Council & LABC Institute. “We built a lot of market-rate, high-end, and we built some low-income housing, but the middle was a failure—we hit just 3% of [the region’s] RHNA targets.”

Even with these shortages, a recent Los Angeles Times survey revealed a striking perception gap: “74 percent of respondents still believe that homeownership is within reach, despite the reality that, for most, it isn’t,” Leslie added. Policy solutions need to address the full spectrum of housing needs, yet “I do not think there is the political will to reach the scale we need,” said Leslie.

2. Despite persistent racial disparities, state financial support is helping increase homeownership for communities of color.

The panel discussed persistent racial disparities that continue to limit homeownership opportunities for communities of color in California, blocking pathways to generational wealth.

Tara Roche, Project Director, Pew Charitable Trusts’ Housing Policy Initiative, reported a 30-percentage point gap between black and white households when it comes to homeownership. Roche called for more modernization of the rules and regulations to bring more lenders back into this space as policy continues to change around the ways people can access financing. “Across the country, about three- quarters of black home applicants who apply for financing on a manufactured home are denied credit.”

Programs like California’s Dream for All, which provides targeted down payment assistance, are working to address these disparities, and have helped nearly 19,000 households in three years—60% of whom are people of color—qualify for homes with no defaults, said Tiena Johnson Hall, Executive Director, California Housing Finance Agency. “In spite of that imbalance, what we have seen is when we do wonderful things like down payment assistance, that tends to change the cycle.”

3. California’s high costs and complex regulatory landscape are hindering its housing production.

Panelists shared lessons from other states and sector-specific examples to show that easing California’s onerous development regulations can help expand housing options.

Dan Dunmoyer, President & CEO of the California Building Industry Association, emphasized that “the Metroplex of Houston builds more housing than the entire state of California,” where affordable units can cost from $700,000 to a record-breaking $1.2 million per unit, creating financial hurdles that would demand trillions [of dollars] to fully address the state’s housing needs.

Similarly, Jason M. Ward, Co-Director of the RAND Center on Housing and Homelessness, said that hard construction costs are about $140 per square foot in Texas versus $350 in California.

In the accessory dwelling unit (ADU) sector, regulatory reforms have yielded a rapid increase in construction. “When the government removed permit fees and delays, ADUs increased from 2,000 to 18,000 in one year,” said Dunmoyer.

Sujata Srivastava, Chief Policy Officer for the San Francisco Bay Area Planning and Urban Research Association, pointed out the need to shift towards more urban, high-density housing at attainable prices. Nearly all existing models are “suburban, low density”—a format that is ill-suited to California’s evolving housing needs,” Srivastava said.

Full panel sessions are available to watch here, and a full report will be released soon at ccre.us.

About the Center for California Real Estate
The Center for California Real Estate (CCRE), an institute of the California Association of Realtors (C.A.R.), advances knowledge and research by collaborating with varied partners, spurs innovative thinking about key issues facing California and the real estate industry, and extends C.A.R.’s influence via intellectual engagement with different audiences, diverse stakeholders and new external partners.

CCRE serves as a nexus for multi-disciplinary thinking aimed at solving some of the state’s most challenging issues. Bringing together key experts from a variety of fields — from academics and policymakers to industry leaders — CCRE produces new knowledge and serves as a key resource about housing issues for all C.A.R. members, external entities, the media and the public.

About the CALIFORNIA ASSOCIATION OF REALTORS®
Leading the way…® in California real estate for more than 118 years, the CALIFORNIA ASSOCIATION OF REALTORS^® (www.car.org) is one of the largest state trade organizations in the United States with 180,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

View original content to download multimedia:https://www.prnewswire.com/news-releases/california-leaders-call-for-bold-solutions-to-solve-state-housing-crisis-at-summit-302308916.html

SOURCE CALIFORNIA ASSOCIATION OF REALTORS’ Center for California Real Estate

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News Real estate

California leaders call for bold solutions to solve State housing crisis at Summit

19.11.2024 by admin

Key among those shared during the Housing Summit include:

1. California’s affordability crisis demands urgency to expand options for the “missing middle.”

2. Despite persistent racial disparities, state financial support is helping increase homeownership for communities of color.

The panel discussed persistent racial disparities that continue to limit homeownership opportunities for communities of color in California, blocking pathways to generational wealth.

3. California’s high costs and complex regulatory landscape are hindering its housing production.

Panelists shared lessons from other states and sector-specific examples to show that easing California’s onerous development regulations can help expand housing options.

Similarly, Jason M. Ward, Co-Director of the RAND Center on Housing and Homelessness, said that hard construction costs are about $140 per square foot in Texas versus $350 in California.

Full panel sessions are available to watch here, and a full report will be released soon at ccre.us.

View original content to download multimedia:https://www.prnewswire.com/news-releases/california-leaders-call-for-bold-solutions-to-solve-state-housing-crisis-at-summit-302308916.html

SOURCE CALIFORNIA ASSOCIATION OF REALTORS’ Center for California Real Estate

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Earnings News

Futu Announces Third Quarter 2024 Unaudited Financial Results and Special Cash Dividend

19.11.2024 by admin

HONG KONG, Nov. 19, 2024 (GLOBE NEWSWIRE) — Futu Holdings Limited (“Futu” or the “Company”) FUTU, a leading tech-driven online brokerage and wealth management platform, today announced its unaudited financial results for the third quarter ended September 30, 2024.

Third Quarter 2024 Operational Highlights

Total number of paying clients¹ increased 33.1% year-over-year to 2,196,647 as of September 30, 2024.
Total number of registered clients² increased 22.8% year-over-year to 4,284,786 as of September 30, 2024.
Total number of users³ increased 14.4% year-over-year to 24.1 million as of September 30, 2024.
Total client assets increased 48.1% year-over-year to HK$693.4 billion as of September 30, 2024.
Daily average client assets were HK$593.2 billion in the third quarter of 2024, an increase of 23.4% from the same period in 2023.
Total trading volume in the third quarter of 2024 increased by 74.7% year-over-year to HK$1.90 trillion, in which trading volume for U.S. stocks was HK$1.53 trillion, and trading volume for Hong Kong stocks was HK$347.7 billion.
Daily average revenue trades (DARTs)⁴ in the third quarter of 2024 increased 68.0% year-over-year to 698,811.
Margin financing and securities lending balance increased 25.5% year-over-year to HK$40.6 billion as of September 30, 2024.

Third Quarter 2024 Financial Highlights

Total revenues increased 29.6% year-over-year to HK$3,436.1 million (US$442.3 million).
Total gross profit increased 27.0% year-over-year to HK$2,811.3 million (US$361.8 million).
Net income increased 20.9% year-over-year to HK$1,319.2 million (US$169.8 million).
Non-GAAP adjusted net income⁵ increased 20.8% year-over-year to HK$1,398.4 million (US$180.0 million).

Mr. Leaf Hua Li, Futu’s Chairman and Chief Executive Officer, said, “We acquired 154 thousand paying clients in the third quarter, up 138.0% year-over-year and flattish quarter-over-quarter. In the first nine months of the year, we acquired 487 thousand paying clients and we expect full year growth to comfortably exceed our guidance of 550 thousand, thanks to resilient growth in established markets and strong momentum in newer ones.”

“Hong Kong and Singapore altogether contributed over one-third of new paying clients. In these two markets, we continued to optimize the efficiency of our various client acquisition channels and launched effective marketing campaigns to capitalize on favorable market dynamics. Malaysia was again the top contributor of new paying clients, as we continued to invest in our brand and rolled out new products, such as U.S. options trading and money market funds. We brought in a steady number of paying clients in Japan, although the sluggish performance of Japan equities weighed on client acquisition.”

“Total client assets grew 48.1% year-over-year and 19.7% quarter-over-quarter to HK$693.4 billion. We witnessed another quarter of strong net asset inflow across markets, but the majority of asset growth this quarter was driven by the appreciation of clients’ stock holdings towards quarter end. In Singapore, total and average client assets rose by 18% and 10% quarter-over-quarter, respectively. We are also encouraged to see that average client assets in U.S., Canada, and Australia all recorded double-digit sequential growth for three consecutive quarters. Margin financing and securities lending balance moderated to HK$40.6 billion as some clients took profit amid the rally of China equities, but the daily average balance experienced single-digit quarter-over-quarter growth.”

“Total trading volume was HK$1.90 trillion, up 74.7% year-over-year and 17.4% quarter-over-quarter. U.S. stocks trading volume increased by 22.9% sequentially to HK$1.53 trillion as trading turnover of U.S. technology stocks and leveraged ETFs surged amid heightened volatility in August. Hong Kong stock trading volume was HK$347.7 billion, down 2.8% quarter-over-quarter. Trading activities were rather muted in July and August as Hong Kong equities stayed range-bound. However, clients were quick to react to the market rally in late September. In the week of September 23, trading volume of Hong Kong stocks surged by 267% week-over-week.”

“Wealth management asset balance was HK$97.3 billion, up 87.5% year-over-year and 21.9% quarter-over-quarter, primarily driven by inflow into money market funds and fixed income funds. As of quarter end, 27% of our paying clients held wealth management products, up from 25% in the second quarter. We launched ETF-based robo-advisory service in Hong Kong and Singapore to cater to allocation-driven clients.”

“We had 461 IPO distribution and IR clients, up 17.9% year-over-year.”

Mr. Arthur Yu Chen, Futu’s Chief Financial Officer, added, “In celebration of the fifth anniversary of our Nasdaq listing, we are pleased to announce that our board of directors approved a special cash dividend of US$0.25 per ordinary share, or US$2 per American Depositary Share (“ADS”), to holders of ordinary shares and holders of ADSs of record as of the close of business on December 6, 2024, payable in U.S. dollars. The aggregate amount of the special cash dividend to be paid will be approximately US$280 million, which will be funded by surplus cash on Futu’s balance sheet.”

Third Quarter 2024 Financial Results

Revenues

Total revenues were HK$3,436.1 million (US$442.3 million), an increase of 29.6% from HK$2,650.4 million in the third quarter of 2023.

Brokerage commission and handling charge income was HK$1,528.9 million (US$196.8 million), an increase of 51.5% from the third quarter of 2023. This was mainly due to the 74.7% year-over-year increase in total trading volume, partially offset by the decline in blended commission rate from 9.3 bps to 8.0 bps.

Interest income was HK$1,698.8 million (US$218.7 million), an increase of 12.9% from the third quarter of 2023. The increase was mainly driven by higher margin financing income as well as higher interest income from securities borrowing and lending business.

Other income was HK$208.5 million (US$26.8 million), an increase of 52.1% from the third quarter of 2023. The increase was primarily attributable to higher fund distribution service income and currency exchange income.

Costs

Total costs were HK$624.9 million (US$80.4 million), an increase of 42.9% from HK$437.4 million in the third quarter of 2023.

Brokerage commission and handling charge expenses were HK$81.5 million (US$10.5 million), an increase of 29.8% from the third quarter of 2023. Brokerage expenses didn’t move in tandem with brokerage income mainly due to cost savings from our U.S. self-clearing business.

Interest expenses were HK$413.6 million (US$53.2 million), an increase of 43.3% from the third quarter of 2023. The increase was primarily due to higher expenses associated with our securities borrowing and lending business.

Processing and servicing costs were HK$129.8 million (US$16.7 million), an increase of 51.3% from the third quarter of 2023. The increase was primarily driven by higher cloud service fees and data transmission fees.

Gross Profit

Total gross profit was HK$2,811.3 million (US$361.8 million), an increase of 27.0% from HK$2,213.0 million in the third quarter of 2023. Gross margin was 81.8%, as compared to 83.5% in the third quarter of 2023.

Operating Expenses

Total operating expenses were HK$1,079.9 million (US$139.0 million), an increase of 20.9% from HK$892.9 million in the third quarter of 2023.

Research and development expenses were HK$384.7 million (US$49.5 million), an increase of 7.0% from the third quarter of 2023. The increase was primarily due to an increase in research and development headcount to support new products and new markets.

Selling and marketing expenses were HK$314.3 million (US$40.5 million), an increase of 48.5% from HK$211.7 million in the third quarter of 2023. This was driven by a 138.0% year-over-year increase in new paying clients, partially offset by lower client acquisition costs.

General and administrative expenses were HK$380.9 million (US$49.0 million), an increase of 18.4% from the third quarter of 2023. The increase was primarily due to an increase in general and administrative personnel.

Income from Operations

Income from operations increased by 31.1% to HK$1,731.3 million (US$222.8 million) from HK$1,320.2 million in the third quarter of 2023. Operating margin increased to 50.4% from 49.8% in the third quarter of 2023.

Net Income

Net income increased by 20.9% to HK$1,319.2 million (US$169.8 million) from HK$1,091.2 million in the third quarter of 2023. Net income margin for the third quarter of 2024 declined to 38.4% from 41.2% in the year-ago quarter. The lower net income margin was due to the unrealized foreign exchange losses from the modest appreciation of Renminbi in the third quarter.

Non-GAAP adjusted net income increased by 20.8% to HK$1,398.4 million (US$180.0 million) from the third quarter of 2023. Non-GAAP adjusted net income is defined as net income excluding share-based compensation expenses. For further information, see “Use of Non-GAAP Financial Measures” at the bottom of this press release.

Net Income per ADS

Basic net income per ADS was HK$9.57 (US$1.23), compared with HK$7.97 in the third quarter of 2023. Diluted net income per ADS was HK$9.42 (US$1.21), compared with HK$7.86 in the third quarter of 2023. Each ADS represents eight Class A ordinary shares.

Special Cash Dividend

Dividend to be paid to the Company’s ADS holders through the depositary bank will be subject to the terms of the deposit agreement. The payment date is expected to be on or around January 10, 2025 for holders of ordinary shares and holders of ADSs.

Conference Call and Webcast

Futu’s management will hold an earnings conference call on Tuesday, November 19, 2024, at 7:30 AM U.S. Eastern Time (8:30 PM on the same day, Beijing/Hong Kong Time).

Please note that all participants will need to pre-register for the conference call, using the link

https://register.vevent.com/register/BId8704588e6684a3ca9bc030be815ec01.

It will automatically lead to the registration page of “Futu Holdings Ltd Third Quarter 2024 Earnings Conference Call”, where details for RSVP are needed.

Upon registering, all participants will be provided in confirmation emails with participant dial-in numbers and personal PINs to access the conference call. Please dial in 10 minutes prior to the call start time using the conference access information.

Additionally, a live and archived webcast of this conference call will be available at https://ir.futuholdings.com/.

About Futu Holdings Limited

Futu Holdings Limited FUTU is an advanced technology company transforming the investing experience by offering fully digitalized financial services. Through its proprietary digital platforms, Futubull and moomoo, the Company provides a full range of investment services, including trade execution and clearing, margin financing and securities lending, and wealth management. The Company has embedded social media tools to create a network centered around its users and provide connectivity to users, investors, companies, analysts, media and key opinion leaders. The Company also provides corporate services, including IPO distribution, investor relations and ESOP solution services.

Use of Non-GAAP Financial Measures

In evaluating the business, the Company considers and uses non-GAAP adjusted net income, a non-GAAP measure, as a supplemental measure to review and assess its operating performance. The presentation of the non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company defines non-GAAP adjusted net income as net income excluding share-based compensation expenses. The Company presents the non-GAAP financial measure because it is used by the management to evaluate the operating performance and formulate business plans. Non-GAAP adjusted net income enables the management to assess the Company’s operating results without considering the impact of share-based compensation expenses, which are non-cash charges. The Company also believes that the use of the non-GAAP measure facilitates investors’ assessment of its operating performance.

Non-GAAP adjusted net income is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. This non-GAAP financial measure has limitations as analytical tools. One of the key limitations of using non-GAAP adjusted net income is that it does not reflect all items of expense that affect the Company’s operations. Share-based compensation expenses have been and may continue to be incurred in the business and is not reflected in the presentation of non-GAAP adjusted net income. Further, the non-GAAP measure may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

The Company compensates for these limitations by reconciling the non-GAAP financial measure to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company’s performance.

For more information on this non-GAAP financial measure, please see the table captioned “Unaudited Reconciliations of Non-GAAP and GAAP Results” set forth at the end of this press release.

Exchange Rate Information

This announcement contains translations of certain HK dollars (“HK$”) amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from HK$ to US$ were made at the rate of HK$7.7693 to US$1.00, the noon buying rate in effect on September 30, 2024 in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the HK$ or US$ amounts referred could be converted into US$ or HK$, as the case may be, at any particular rate or at all.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the quotations from the management team of the Company, contain forward-looking statements. Futu may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Futu’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Futu’s goal and strategies; Futu’s expansion plans; Futu’s future business development, financial condition and results of operations; Futu’s expectations regarding demand for, and market acceptance of, its credit products; Futu’s expectations regarding keeping and strengthening its relationships with borrowers, institutional funding partners, merchandise suppliers and other parties it collaborates with; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Futu’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Futu does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor inquiries, please contact:

Investor Relations
Futu Holdings Limited
ir@futuholdings.com

____________________
¹ The number of paying clients refers to the number of clients with assets in their trading accounts with Futu.
² The number of registered clients refers to the number of users with one or more trading accounts with Futu.
³ The number of users refers to the number of user accounts registered with Futu.
⁴ The number of Daily Average Revenue Trades (DARTs) refers to the number of average trades per day that generate commissions or fees.
⁵ Non-GAAP adjusted net income is defined as net income excluding share-based compensation expenses.

FUTU HOLDINGS LIMITED UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except for share and per share data)
	As of December 31,	As of September 30,
	2023	2024	2024
	HK$	HK$	US$
ASSETS
Cash and cash equivalents	4,937,538	9,048,504	1,164,649
Cash held on behalf of clients	44,369,310	66,419,953	8,549,027
Restricted cash	1,232	1,238	159
Term deposit	5,540	5,440	700
Short-term investments	3,114,613	2,688,996	346,105
Securities purchased under agreements to resell	133,039	228,251	29,379
Loans and advances-current (net of allowance of HK$45,949 thousand and HK$69,444 thousand as of December 31, 2023 and September 30, 2024, respectively)	32,528,421	38,759,786	4,988,839
Receivables:
Clients	293,505	1,086,895	139,896
Brokers	5,189,155	14,717,638	1,894,333
Clearing organizations	4,244,793	5,251,095	675,877
Fund management companies and fund distributors	151,691	1,052,676	135,492
Interest	268,504	402,902	51,858
Prepaid assets	54,691	87,226	11,227
Other current assets	135,479	1,142,494	147,052
Total current assets	95,427,511	140,893,094	18,134,593

Operating lease right-of-use assets	224,092	293,142	37,731
Long-term investments	238,556	618,760	79,642
Loans and advances-non-current	18,934	18,824	2,423
Other non-current assets	1,226,754	1,638,204	210,857
Total non-current assets	1,708,336	2,568,930	330,653
Total assets	97,135,847	143,462,024	18,465,246

LIABILITIES
Amounts due to related parties	69,018		130,723		16,826
Payables:
Clients	48,762,263		77,072,065		9,920,078
Brokers	15,648,286		28,735,209		3,698,558
Clearing organizations	24,096		1,006,077		129,494
Fund management companies and fund distributors	175,575		1,078,427		138,806
Interest	44,109		82,500		10,619
Borrowings	5,651,565		3,668,962		472,238
Securities sold under agreements to repurchase	–		403,104		51,884
Lease liabilities-current	114,682		92,492		11,905
Accrued expenses and other current liabilities	1,939,004		2,543,024		327,317
Total current liabilities	72,428,598		114,812,583		14,777,725

Lease liabilities-non-current	123,335		220,122		28,332
Other non-current liabilities	12,183		11,102		1,430
Total non-current liabilities	135,518		231,224		29,762
Total liabilities	72,564,116		115,043,807		14,807,487


SHAREHOLDERS’ EQUITY
Class A ordinary shares	71		71		9
Class B ordinary shares	27		27		3
Additional paid-in capital	18,456,438		18,716,447		2,409,026
Treasury Stock	(5,199,257	)	(5,199,257	)	(669,205	)
Accumulated other comprehensive loss	(49,433	)	(26,520	)	(3,413	)
Retained earnings	11,360,890		14,932,280		1,921,961
Total shareholders’ equity	24,568,736		28,423,048		3,658,381


Non-controlling interest	2,995		(4,831	)	(622	)
Total equity	24,571,731		28,418,217		3,657,759
Total liabilities and equity	97,135,847		143,462,024		18,465,246

FUTU HOLDINGS LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In thousands, except for share and per share data)
	For the Three Months Ended						For the Nine Months Ended
	September 30, 2023		September 30, 2024		September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2024
	HK$		HK$		US$		HK$		HK$		US$
Revenues
Brokerage commission and handling charge income	1,008,854		1,528,910		196,789		3,040,780		3,987,317		513,214
Interest income	1,504,501		1,698,761		218,650		4,204,477		4,644,581		597,812
Other income	137,060		208,461		26,831		389,899		525,679		67,661
Total revenues	2,650,415		3,436,132		442,270		7,635,156		9,157,577		1,178,687
Costs
Brokerage commission and handling charge expenses	(62,814	)	(81,458	)	(10,485	)	(190,401	)	(228,997	)	(29,475	)
Interest expenses	(288,749	)	(413,631	)	(53,239	)	(639,975	)	(1,104,098	)	(142,110	)
Processing and servicing costs	(85,834	)	(129,791	)	(16,706	)	(272,365	)	(336,330	)	(43,290	)
Total costs	(437,397	)	(624,880	)	(80,430	)	(1,102,741	)	(1,669,425	)	(214,875	)
Total gross profit	2,213,018		2,811,252		361,840		6,532,415		7,488,152		963,812

Operating expenses
Research and development expenses	(359,514	)	(384,728	)	(49,519	)	(1,077,761	)	(1,094,158	)	(140,831	)
Selling and marketing expenses	(211,684	)	(314,316	)	(40,456	)	(527,887	)	(945,312	)	(121,673	)
General and administrative expenses	(321,656	)	(380,901	)	(49,026	)	(943,067	)	(1,044,341	)	(134,419	)
Total operating expenses	(892,854	)	(1,079,945	)	(139,001	)	(2,548,715	)	(3,083,811	)	(396,923	)

Income from operations	1,320,164		1,731,307		222,839		3,983,700		4,404,341		566,889

Others, net	(16,770	)	(131,379	)	(16,910	)	50,191		(142,254	)	(18,310	)

Income before income tax expense and share of loss from equity method investments	1,303,394		1,599,928		205,929		4,033,891		4,262,087		548,579

Income tax expense	(211,499	)	(237,546	)	(30,575	)	(622,667	)	(639,913	)	(82,364	)
Share of loss from equity method investments	(738	)	(43,216	)	(5,562	)	(8,661	)	(58,577	)	(7,540	)

Net income	1,091,157		1,319,166		169,792		3,402,563		3,563,597		458,675

Attributable to:
Ordinary shareholders of the Company	1,091,465		1,321,062		170,036		3,403,249		3,571,390		459,678
Non-controlling interest	(308	)	(1,896	)	(244	)	(686	)	(7,793	)	(1,003	)
	1,091,157		1,319,166		169,792		3,402,563		3,563,597		458,675

Net income per share attributable to ordinary shareholders of the Company
Basic	1.00		1.20		0.15		3.07		3.24		0.42
Diluted	0.98		1.18		0.15		3.04		3.19		0.41

Net income per ADS
Basic	7.97		9.57		1.23		24.58		25.89		3.33
Diluted	7.86		9.42		1.21		24.29		25.53		3.29

Weighted average number of ordinary shares used in computing net income per share
Basic	1,095,876,818		1,104,332,890		1,104,332,890		1,107,509,193		1,103,586,659		1,103,586,659
Diluted	1,111,337,025		1,122,047,684		1,122,047,684		1,120,897,949		1,119,231,099		1,119,231,099

Net income	1,091,157		1,319,166		169,792		3,402,563		3,563,597		458,675
Other comprehensive (loss)/income, net of tax
Foreign currency translation adjustment	(24,735	)	120,132		15,463		(83,176	)	22,880		2,945
Total comprehensive income	1,066,422		1,439,298		185,255		3,319,387		3,586,477		461,620

Attributable to:
Ordinary shareholders of the Company	1,066,757		1,441,210		185,501		3,320,101		3,594,303		462,627
Non-controlling interest	(335	)	(1,912	)	(246	)	(714	)	(7,826	)	(1,007	)
	1,066,422		1,439,298		185,255		3,319,387		3,586,477		461,620

FUTU HOLDINGS LIMITED UNAUDITED RECONCILIATIONS OF NON-GAAP AND GAAP RESULTS (In thousands)
	For the Three Months Ended			For the Nine Months Ended
	September 30, 2023	September 30, 2024	September 30, 2024	September 30, 2023	September 30, 2024	September 30, 2024
	HK$	HK$	US$	HK$	HK$	US$

Net income	1,091,157	1,319,166	169,792	3,402,563	3,563,597	458,675
Add: Share-based compensation expenses	66,812	79,247	10,200	216,754	252,040	32,441
Adjusted net income	1,157,969	1,398,413	179,992	3,619,317	3,815,637	491,116

Non-GAAP to GAAP reconciling items have no income tax effect.

Markets News

Lowe's Gears Up For Q3 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

19.11.2024 by admin

Lowe’s Companies, Inc. LOW will release earnings results for its third quarter, before the opening bell on Tuesday, Nov. 19.

Analysts expect the Mooresville, North Carolina-based company to report quarterly earnings at $2.81 per share, down from $3.06 per share in the year-ago period. Lowe’s projects to report quarterly revenue of $19.91 billion, compared to $20.47 billion a year earlier, according to data from Benzinga Pro.

On Aug. 20, the company reported adjusted earnings per share of $4.10, beating the analyst consensus of $3.99. Quarterly revenues totaled $23.586 billion, missing the street view of $24.013 billion.

Lowe’s shares gained 0.9% to close at $271.77 on Monday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

Telsey Advisory Group analyst Joseph Feldman upgraded the stock from Market Perform to Outperform and raised the price target from $275 to $305 on Nov. 8. This analyst has an accuracy rate of 69%.
Truist Securities analyst Scot Ciccarelli maintained a Buy rating and increased the price target from $306 to $307 on Nov. 7. This analyst has an accuracy rate of 75%.
Wells Fargo analyst Zachary Fadem maintained an Overweight rating and raised the price target from $280 to $295 on Nov. 6. This analyst has an accuracy rate of 87%.
TD Cowen analyst Max Rakhlenko maintained a Hold rating and boosted the price target from $270 to $290 on Oct. 28. This analyst has an accuracy rate of 61%.
Loop Capital analyst Laura Champine upgraded the stock from Hold to Buy and increased the price target from $250 to $300 on Oct. 9. This analyst has an accuracy rate of 64%.

Considering buying LOW stock? Here’s what analysts think:

Read This Next:

Market News and Data brought to you by Benzinga APIs

Economics News

[Latest] Global Serological Testing Market Size/Share Worth USD 8,100 Million by 2033 at a 6.70% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth, Growth Rate, Value)

19.11.2024 by admin

Austin, TX, USA, Nov. 19, 2024 (GLOBE NEWSWIRE) — Custom Market Insights has published a new research report titled “Serological Testing Market Size, Trends and Insights By Technology (ELISA, NAT, CLIA/CMIA, Others), By Product (Instruments, Consumables and Reagents), By Application (Hepatitis, Coronavirus (COVID-19), Human Immunodeficiency Virus (HIV), Rotavirus infections, Others), By End-User (Diagnostic Laboratories, Hospitals, Other End Users), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033“ in its research database.

“According to the latest research study, the demand of global Serological Testing Market size & share was valued at approximately USD 4,820 Million in 2023 and is expected to reach USD 5,150 Million in 2024 and is expected to reach a value of around USD 8,100 Million by 2033, at a compound annual growth rate (CAGR) of about 6.70% during the forecast period 2024 to 2033.”

Click Here to Access a Free Sample Report of the Global Serological Testing Market @ https://www.custommarketinsights.com/request-for-free-sample/?reportid=54518

Serological Testing Market: Growth Factors and Dynamics

Increasing Demand for Diagnostic Testing: There is an increasing demand for accurate and reliable diagnostic tests throughout the healthcare sector, fueled by the need for early detection and effective management of diseases.

Rising Incidence of Infectious Diseases: The prevalence of infectious illnesses such as HIV, hepatitis, and COVID-19 has fueled the demand for serological testing to diagnose, screen, and monitor these medical conditions.

Advancements in Technology: Technological developments in serological testing procedures have enhanced test accuracy, speed, and efficiency, making them more accessible and reliable to healthcare practitioners.

Growing Awareness and Screening Programs: Public health initiatives and awareness campaigns have boosted the acceptance of serological testing as a component of routine health check-ups and disease prevention programs.

Expanding Applications in Research and Development: Serological testing is critical in research and development efforts, such as vaccine development, epidemiological investigations, and understanding disease prevalence and transmission trends.

Increased Healthcare Expenditure: Rising worldwide healthcare spending has prompted investments in diagnostic technology, such as serological testing platforms, consequently expanding the market.

Point-of-Care Testing (POCT) Advancements: Advances in POCT technology have made serological tests more accessible in a variety of healthcare settings, including clinics, emergency departments, and remote locations, resulting in market expansion.

Request a Customized Copy of the Serological Testing Market Report @ https://www.custommarketinsights.com/inquire-for-discount/?reportid=54518

Serological Testing Market: Partnership and Acquisitions

In November 2023, Agilus Diagnostics, a Fortis Healthcare Limited subsidiary, launched a cutting-edge laboratory in Bongaigaon, Assam. Covering 2,000 square feet, the lab can process over 25,000 samples monthly and offers over 3,000 tests, including routine and specialized diagnostics. The facility includes divisions such as Hematology, Biochemistry, Clinical Pathology, Serology, and Microbiology, meeting the region’s growing demand for high-quality diagnostic services and preventive healthcare packages.

In October 2022, LordsMed, part of Lord’s Mark Industries, inaugurated an IVD manufacturing facility in Vasai near Mumbai. The 20,000 sq ft facility features advanced technologies and infrastructure meeting global standards. It will produce various IVD and point-of-care diagnostic solutions, including analyzers, reagents for clinical biochemistry, haematology, serology, immunology, rapid testing kits (ICMR approved antigen kits), and lab consumables.

In November 2023, Roche launched the Elecsys® Anti-HEV IgM and Anti-HEV IgG immunoassays for detecting hepatitis E virus (HEV) infections in CE mark-accepting countries. The Anti-HEV IgM assay detects acute or recent HEV infections, while the Anti-HEV IgG assay identifies recent or past infections. Both assays can be used with cobas® e 411, e 601/602, e 402, and e 801 analyzers.

In February 2022, Thermo Fisher Scientific introduced two bead-based ELISA solutions for faster and simpler detection of SARS-CoV-2 antibodies. Unlike traditional methods with lengthy protocols, the Invitrogen Dynabeads SARS-CoV-2 Spike ELISA kits detect and quantify human antibodies from serum or plasma in just 45 minutes. The new plates-to-beads concept enhances binding kinetics by capturing antibodies in suspension, streamlining the serological research process.

Report Scope

Feature of the Report	Details
Market Size in 2024	USD 5,150 Million
Projected Market Size in 2033	USD 8,100 Million
Market Size in 2023	USD 4,820 Million
CAGR Growth Rate	6.70% CAGR
Base Year	2023
Forecast Period	2024-2033
Key Segment	By Technology, Product, Application, End-User and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

(A free sample of the Serological Testing report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

Introduction, Overview, and in-depth industry analysis are all included in the 2024 updated report.
The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
About 220+ Pages Research Report (Including Recent Research)
Provide detailed chapter-by-chapter guidance on the Request.
Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2024
Includes Tables and figures have been updated.
The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
Custom Market Insights (CMI) research methodology

(Please note that the sample of the Serological Testing report has been modified to include the COVID-19 impact study prior to delivery.)

Request a Customized Copy of the Serological Testing Market Report @ https://www.custommarketinsights.com/report/serological-testing-market/

Serological Testing Market: COVID-19 Analysis

The COVID-19 pandemic has significantly impacted the Serological Testing Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

Supply Chain Disruptions: Early in the pandemic, there were disruptions in the supply chain for serological testing kits, affecting availability and distribution globally.

Quality Concerns: With the rush to meet demand, some serological tests initially had issues with accuracy and reliability. This raised concerns about false positives/negatives and quality control.

Regulatory Challenges: Rapidly changing regulatory requirements and approvals posed challenges for manufacturers, delaying market entry for some products and increasing compliance costs.

Market Saturation: As the initial surge in demand subsides and vaccination rates increase, the market for COVID-19 serological tests may experience saturation, impacting future growth prospects.

Increased Demand: The pandemic led to a surge in demand for serological tests to detect antibodies against SARS-CoV-2, the virus causing COVID-19. This sudden demand boosted the market size and revenue for companies producing serological testing kits.

Technological Advancements: The urgency of the pandemic accelerated research and development in serological testing technologies. This has led to innovations in assay sensitivity, specificity, and rapid test development, benefiting the overall market.

Market Expansion: The pandemic highlighted the importance of serological testing not only for COVID-19 but also for other infectious diseases and immune-related conditions. This awareness has expanded the potential market beyond infectious diseases.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Serological Testing Market, with some challenges and opportunities arising from the pandemic.

Request a Customized Copy of the Serological Testing Market Report @ https://www.custommarketinsights.com/report/serological-testing-market/

Key questions answered in this report:

What is the size of the Serological Testing market and what is its expected growth rate?
What are the primary driving factors that push the Serological Testing market forward?
What are the Serological Testing Industry’s top companies?
What are the different categories that the Serological Testing Market caters to?
What will be the fastest-growing segment or region?
In the value chain, what role do essential players play?
What is the procedure for getting a free copy of the Serological Testing market sample report and company profiles?

Key Offerings:

Market Share, Size & Forecast by Revenue | 2024−2033
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
Competitive Landscape – Top Key Vendors and Other Prominent Vendors

Buy this Premium Serological Testing Research Report | Fast Delivery Available – [220+ Pages] @ https://www.custommarketinsights.com/report/serological-testing-market/

Serological Testing Market – Regional Analysis

The Serological Testing Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

North America: In North America, the serological testing market is witnessing several key trends. Firstly, there is an increasing demand for COVID-19 antibody testing, which is being driven by continuing surveillance initiatives and vaccine effectiveness examinations. Second, advances in assay technology, such as automated platforms and multiplex assays, improve testing efficiency and accuracy. Third, there is a shift towards point-of-care testing solutions that enable quick and decentralised testing capabilities. Furthermore, more awareness and adoption of personalised medicine approaches are influencing the industry, particularly targeted therapies and patient-specific treatment regimens. These trends influence the changing environment of serological testing in North America.

Europe: The growth of the Serological Testing Market in Europe is supported by several key factors. These include rising disease rates, increased demand for early detection, advances in laboratory technology, and a strong healthcare infrastructure. Furthermore, the region’s emphasis on preventive healthcare measures and proactive screening programmes promotes market growth. Furthermore, the increasing use of serological testing in vaccine and pharmaceutical research and development drives market expansion in Europe.

Asia-Pacific: The Serological Testing Market in Asia-Pacific is driven by several key trends. These include the increasing prevalence of infectious diseases necessitating reliable diagnostic tools, rising healthcare expenditure and infrastructure development, and growing awareness and adoption of advanced medical technologies. Additionally, expanding initiatives for early disease detection and management, alongside robust investments in healthcare R&D, further bolster market growth. Moreover, the COVID-19 pandemic has underscored the importance of serological testing, fostered innovation and enhanced market opportunities in the region.

LAMEA (Latin America, Middle East, and Africa): In the LAMEA region, the growth of the Serological Testing Market is supported by a number of important factors. These include increased awareness of infectious diseases, expanding healthcare infrastructure, increasing healthcare costs, and a growing desire for precision diagnostic technologies. Furthermore, technological improvements, especially in immunodiagnostics and antibody testing, help to drive market growth. Furthermore, government measures to improve healthcare access and the incidence of chronic diseases drive the demand for serological testing in the LAMEA area.

Request a Customized Copy of the Serological Testing Market Report @ https://www.custommarketinsights.com/report/serological-testing-market/

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Browse the full “Serological Testing Market Size, Trends and Insights By Technology (ELISA, NAT, CLIA/CMIA, Others), By Product (Instruments, Consumables and Reagents), By Application (Hepatitis, Coronavirus (COVID-19), Human Immunodeficiency Virus (HIV), Rotavirus infections, Others), By End-User (Diagnostic Laboratories, Hospitals, Other End Users), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033“ Report at https://www.custommarketinsights.com/report/serological-testing-market/

List of the prominent players in the Serological Testing Market:

Serological Research Institute (SERI)
Chembio Diagnostics Inc
Randox Laboratories Ltd
Abbott Laboratories
Bio-Rad Laboratories Inc.
Thermo Fisher Scientific Inc.
Ortho Clinical Diagnostics
Quest Diagnostics Incorporated
Abcam Plc
Hoffmann-La Roche Ltd.
ELITechGroup
Teleflex Incorporated
Grifols S.A.
Global Scientific Company
Beckman Coulter Inc.
Biomedomics Inc.
Others

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The Serological Testing Market is segmented as follows:

By Technology

By Product

Instruments
Consumables and Reagents

By Application

Hepatitis
Coronavirus (COVID-19)
Human Immunodeficiency Virus (HIV)
Rotavirus infections
Others

By End-User

Diagnostic Laboratories
Hospitals
Other End Users

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Regional Coverage:

North America

U.S.
Canada
Mexico
Rest of North America

Europe

Germany
France
U.K.
Russia
Italy
Spain
Netherlands
Rest of Europe

Asia Pacific

China
Japan
India
New Zealand
Australia
South Korea
Taiwan
Rest of Asia Pacific

The Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

This Serological Testing Market Research/Analysis Report Contains Answers to the following Questions.

Which Trends Are Causing These Developments?
Who Are the Global Key Players in This Serological Testing Market? What are Their Company Profile, Product Information, and Contact Information?
What Was the Global Market Status of the Serological Testing Market? What Was the Capacity, Production Value, Cost and PROFIT of the Serological Testing Market?
What Is the Current Market Status of the Serological Testing Industry? What’s Market Competition in This Industry, Both Company and Country Wise? What’s Market Analysis of Serological Testing Market by Considering Applications and Types?
What Are Projections of the Global Serological Testing Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
What Is Serological Testing Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
What Is the Economic Impact On Serological Testing Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
What Are Market Dynamics of Serological Testing Market? What Are Challenges and Opportunities?
What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Serological Testing Industry?

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Reasons to Purchase Serological Testing Market Report

Serological Testing Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
Serological Testing Market report outlines market value (USD) data for each segment and sub-segment.
This report indicates the region and segment expected to witness the fastest growth and dominate the market.
Serological Testing Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
The Industry’s current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
Serological Testing Market Includes in-depth market analysis from various perspectives through Porter’s five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

The study provides a thorough overview of the global Serological Testing market. Compare your performance to that of the market as a whole.

Aim to maintain competitiveness while innovations from established key players fuel market growth.

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What does the report include?

Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Serological Testing market analysis.

The competitive environment of current and potential participants in the Serological Testing market is covered in the report, as well as those companies’ strategic product development ambitions.

According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.

For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

Participants and stakeholders worldwide Serological Testing market should find this report useful. The research will be useful to all market participants in the Serological Testing industry.

Managers in the Serological Testing sector are interested in publishing up-to-date and projected data about the worldwide Serological Testing market.

Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Serological Testing products’ market trends.

Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.

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Earnings News

Bank Leumi reports a 30% increase in the net income for Q3 2024, which amounted to NIS 2.3 billion ($620 million)

19.11.2024 by admin

Net income for Q3 2024: NIS 2.3 billion ($620 million) compared to NIS 1.8 billion ($485 million) in the corresponding period last year – a 29.8% increase
Return on equity in Q3 2024: 15.5% compared with 13.6% in the corresponding period last year
Capital return on Q3 2024 amounts to NIS 917 million ($247 million), out of which NIS 688 million ($185 million) is cash dividend and the remainder is share buyback – 40% of the net income for the quarter
Efficiency ratio: 31.1% in Q3 2024, 29.6% for the first nine months of the year
The loan portfolio was up by 7.1% compared with the corresponding period last year; deposits by the public were up by 8% compared with the corresponding period last year
Loan portfolio quality: NPL ratio and rate of troubled debts continue to be low, standing at 0.52% and 1.44% respectively
Robust financial indicators: liquidity coverage ratio of 124%, Tier 1 capital ratio of 12.07% and total capital ratio of 14.77%

TEL AVIV, Israel, Nov. 19, 2024 /PRNewswire/ — Bank Leumi LUMI published today its financial statements for Q3 2024:

Net income in the third quarter of 2024 amounted to NIS 2.3 billion ($620 million), compared to NIS 1.8 billion ($485 million) in the corresponding period last year – a 29.8% increase. Net income in the first nine months of 2024 amounted to NIS 7.3 billion ($2.0 billion), compared to NIS 5.2 billion ($1.4 billion) in the corresponding period last year – a 41.2% increase.

Return on equity in the third quarter of 2024 was 15.5%, compared with 13.6% in the corresponding period last year. ROE in the first nine months of 2024 was 17.1%, compared with 13.6% in the corresponding period last year.

The efficiency ratio in Q3 2024 was 31.1%, compared with 32.3% in the corresponding period last year. The efficiency ratio in the first nine months of 2024 was 29.6%, compared with 31.4% in the corresponding period last year.

Capital return in Q3 2024 amounts to NIS 917 million ($247 million), out of which NIS 688 million ($185 million) is cash dividend and the remainder is share buyback. The dividend and share buyback constitute 40% of the net income for the quarter. Total capital return from the beginning of the year amounts to NIS 2.9 billion ($782 million), out of which NIS 2.2 billion ($593 million) is cash dividend and NIS 726 million ($196 million) is share buyback.

The loan portfolio in Q3 2024 increased by 7.1% compared with the corresponding period last year. In the first nine months of 2024 the loan portfolio increased by 6.5%.

Deposits by the public in Q3 2024 increased by 8% compared with the corresponding quarter last year.

Responsible growth in the loan portfolio in strategic segments: The Bank continues to focus its growth on the credit portfolio in the corporate, commercial and mortgage segments. Since the beginning of the year, the credit portfolio grew by a total rate of 6.5%, with the corporate portfolio growing by 6.6%, the commercial portfolio grew by 3.2% and the mortgage portfolio grew by 8%.

Loan portfolio quality: NPL ratio and rate of troubled debts continue to be low, standing at 0.52% and 1.44% respectively. From the beginning of the year troubled debts decreased by 14% and NPLs decreased by 34%.

Loan loss expenses in the third quarter of 2024 reflect an expense rate of 0.28% of the average outstanding loans to the public. The entire expense is collective, reflecting a conservative and responsible approach due to the continuation of the war. The collective expense was partially offset by specific income, in light of collections.

High capital adequacy: Common equity tier 1 capital ratio as at September 30, 2024 was 12.07% and total capital ratio was 14.77%.

Liquidity coverage ratio as at September 30, 2024 was 124%.

The Bank’s initiatives due to the war: The Bank implemented many initiatives for the benefit of the general public and its customers, including a series of unique benefits for IDF reservists, business owners and self-employed.

These initiatives are part of Leumi’s policy to expand the Bank of Israel’s relief program, publishing its own relief program to both business and retail customers from across Israel – with an emphasis on residents of the southern and northern confrontation lines, with the aim of assisting them as much as possible during these complex times. The reliefs to eligible customers included, among others: full exemption from mortgage payments, exemption from loan repayments for retail customers and small businesses, designated aid funds, exemption from common current account fees, exemption from charges on current account overdraft and more.

In addition, since the outbreak of the war, the Bank made substantial donations to residents of the southern and northern confrontation lines, IDF soldiers – both on active and reserve duty, hospitals and first responder and aid organizations.

In addition, the Bank initiated and financed a series of projects to rehabilitate southern Israel and other populations affected by the war, including: Providing ongoing multi-year assistance to Kibbutz Be’eri until its full rehabilitation; the “National Harvest” project – under which college and university students who volunteer to assist farmers in harvesting crops on an ongoing basis received a full year’s academic tuition from the Bank; the “Leumi Matriculation” initiative, in which the Bank assists youth across the country to prepare for their matriculation exams, with an emphasis on high school students who were evacuated from the north and south;

and the “Bank Leumi Wedding Project”, under which the bank funded weddings to dozens of reservist couples whom served an extended period of reserve duty during the war.

The updated cost of the reliefs and donations provided during the war is estimated at NIS 496 million ($134 million).

Development of balance sheet items:

Shareholders’ equity as at September 30, 2024 totaled NIS 60.3 billion ($16.3 billion), compared to NIS 52.5 billion ($14.2 billion) as at September 30, 2023 – a 14.7% increase.

Net credit to the public as at September 30, 2024 totaled NIS 447 billion ($120.5 billion), compared to NIS 417.3 billion ($112.5 billion) as at September 30, 2023 – a 7.1% increase.

Housing loans (mortgages) as at September 30, 2024 totaled NIS 142.7 billion ($38.5 billion), compared to NIS 129.6 billion ($34.9 billion) as at September 30, 2023 – a 10.1% increase.

Credit to retail customers as at September 30, 2024 totaled NIS 30.3 billion ($8.2 billion), compared to NIS 31.1 billion ($8.4 billion) as at September 30, 2023 – a 2.6% decrease.

Credit to small businesses as at September 30, 2024 totaled NIS 27 billion ($7.3 billion), compared to NIS 25.7 billion ($6.9 billion) as at September 30, 2023 – a 5.1% increase.

Middle-market credit as at September 30, 2024 totaled NIS 64.6 billion ($17.4 billion), compared to NIS 64.4 billion ($17.4 billion) as at September 30, 2023 – a 0.2% increase.

Corporate credit as at September 30, 2024 totaled NIS 135.8 billion ($36.6 billion), compared to NIS 126.7 billion ($34.2 billion) as at September 30, 2023 – a 7.2% increase.

Deposits by the public as at September 30, 2024 totaled NIS 588.3 billion ($158.6 billion), compared to NIS 544.5 billion ($146.8 billion) as at September 30, 2023 – an 8% increase.

Deposits by retail customers as at September 30, 2024 totaled NIS 226 billion ($60.9 billion), compared to NIS 215 billion ($58.0 billion) as at September 30, 2023 – a 5.1% increase.

Deposits by small businesses as at September 30, 2024 totaled NIS 57 billion ($15.4 billion), compared to NIS 53 billion ($14.3 billion) as at September 30, 2023 – a 7.1% increase.

CET1 capital ratio as at September 30, 2024 was 12.07%, compared to 11.30% as at September 30, 2023.

Total capital ratio as at September 30, 2024 was 14.77%, compared to 14.42% as at September 30, 2023.

Leumi Group – Key Financials

Profit and profitability (in NIS million)
	For the three months ended September 30		Change in NIS million	Change in %
	2024	2023	Change in NIS million	Change in %
Net Interest income	4,545	3,935	610	15.5
Loan loss expenses	312	991	(679)	(68.5)
Non-interest income	978	1,401	(423)	(30.2)
Operating and other expenses	1,716	1,722	(6)	(0.3)
Profit before tax	3,495	2,623	872	33.2
Provision for tax	1,285	866	419	48.4
Profit after tax	2,210	1,757	453	25.8
The Bank’s share in profits of associates	83	10	73	730
Net income attributable to the bank’s shareholders	2,293	1,767	526	29.8
Return on equity (%)	15.5	13.6
Earnings per share (NIS)	1.51	1.15

Profit and profitability (in NIS million)
	For the nine months ended September 30		Change in NIS million	Change in %
	2024	2023	Change in NIS million	Change in %
Net Interest income	12,690	12,147	543	4.5
Loan loss expenses	516	1,715	(1,199)	(69.9)
Non-interest income	4,871	3,884	987	25.4
Operating and other expenses	5,192	5,034	158	3.1
Profit before tax	11,853	9,282	2,571	27.7
Provision for tax	4,128	3,119	1,009	32.4
Profit after tax	7,725	6,163	1,562	25.3
The Bank’s share in profits (losses) of associates	(378)	(962)	584	60.7
Net income attributable to the bank’s shareholders	7,347	5,201	2,146	41.3
Return on equity (%)	17.1	13.6
Earnings per share (NIS)	4.83	3.38

Development of balance sheet items (in NIS millions)
	As at September 30		Change in %
	2024	2023	Change in %
Net loans to the public	446,951	417,261	7.1
Deposits by the public	588,305	544,519	8.0
Shareholders’ equity	60,258	52,518	14.7
Total assets	753,639	700,761	7.5

Principal financial ratios (%)
	As at September 30
	2024	2023
Net loans to the public to total assets	59.3	59.5
Deposits by the public to total assets	78.1	77.7
Total equity to risk assets	14.77	14.42
Tier 1 capital to risk assets	12.07	11.30
Leverage ratio	7.01	6.73
Liquidity coverage ratio	124	130

The data in this press release has been converted into US dollars solely for convenience purposes, at the representative exchange rate published by the Bank of Israel on September 30, 2024, NIS 3.710.

Conference Call Details

A conference call for analysts and investors will be held today at 5 PM (Israel); 3 PM (UK); 10 AM (ET) to discuss the results.

To access the conference call please use one of the numbers below (no passcode required):

Israel: 03-918-0610
UK: 0-800-917-9141
US & Canada: 1-866-527-8676
All other locations: +972-3-918-0610

Please allow sufficient time for registration.

The conference call and webcast will make use of a presentation which will be published on the day of the publication of the Financial Results on the Israeli Securities Authority reporting website (MAGNA) and on the Leumi website under Investor Relations.

An archived recording of the webcast will be available on the Leumi website one business day after the publication of results.

For more information visit the investor relations page on our website or contact Michael Klahr, VP, Head of Investor Relations, at investorrelations@bankleumi.co.il

The conference call and webinar does not replace the need to review the latest periodic/quarterly reports containing full information, including forward-looking information, as defined in the Israeli Securities Law, and set out in the aforementioned reports.

View original content:https://www.prnewswire.com/news-releases/bank-leumi-reports-a-30-increase-in-the-net-income-for-q3-2024–which-amounted-to-nis-2-3-billion-620-million-302309516.html

SOURCE Bank Leumi

Markets News

Walmart, Lowe's And 3 Stocks To Watch Heading Into Tuesday

19.11.2024 by admin

With U.S. stock futures trading higher this morning on Tuesday, some of the stocks that may grab investor focus today are as follows:

Wall Street expects Walmart Inc. WMT to report quarterly earnings at 53 cents per share on revenue of $167.72 billion before the opening bell, according to data from Benzinga Pro. Walmart shares rose 1.6% to $85.44 in after-hours trading.
AECOM ACM reported better-than-expected earnings for its fourth quarter. The company’s quarterly earnings came in at $1.27 per share which beat the analyst consensus estimate of $1.24 per share. The company reported quarterly sales of $4.11 billion versus the analyst consensus estimate of $4.14 billion. Aecom shares fell 1.2% to $107.80 in the after-hours trading session.
Analysts expect Lowe’s Companies, Inc. LOW to post quarterly earnings at $2.82 per share on revenue of $19.94 billion. The company will release earnings before the markets open. Lowe’s shares gained 0.1% to $272.10 in after-hours trading.

Check out our premarket coverage here

Symbotic Inc. SYM reported better-than-expected results for its fourth quarter on Monday. For the first quarter of fiscal 2025, Symbotic expects revenue of $495 million to $515 million, versus the $495.73 million estimate, and adjusted EBITDA of $27 million to $31 million. Symbotic shares jumped 26.3% to $38.60 in the after-hours trading session.
Analysts expect Medtronic plc MDT to report quarterly earnings at $1.25 per share on revenue of $8.27 billion before the opening bell. Medtronic shares gained 0.2% to $87.74 in after-hours trading.

Check This Out:

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Day: November 19, 2024

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