DPZ INVESTOR ALERT: Kirby McInerney LLP Notifies Domino's Pizza, Inc. Investors of Class Action Lawsuit Deadline
NEW YORK, Oct. 18, 2024 (GLOBE NEWSWIRE) — The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of Michigan on behalf of those who acquired Domino’s Pizza, Inc. (“Domino’s” or the “Company”) DPZ securities during the period of December 7, 2023 to July 17, 2024, inclusive (“the Class Period”). Investors have until November 19, 2024, to apply to the Court to be appointed as lead plaintiff in the lawsuit.
[Click here to learn more about the class action]
On July 18, 2024, Domino’s issued a press release announcing its second quarter 2024 financial results. The Company disclosed challenges experienced by its master franchisees, Domino’s Pizza Enterprises (“DPE”), relating to both openings and closures. As a result, the Company stated that it expected to “fall 175 to 275 stores below its 2024 goal of 925+ net stores in international,” and “is temporarily suspending its guidance metric of 1,100+ global net stores until the full effect of DPE’s store opens and closures on international net store growth are known.” On an earnings call held that same day, the Company’s Chief Financial Officer Sandeep Reddy further revealed that the long-term guidance announced at the prior year’s 2023 Investor Day did not accurately reflect the extent of DPE’s challenges with respect to new store openings and closures of existing stores. On this news, the price of Domino’s shares declined by $64.23 per share, or approximately 13.6%, from $473.27 on July 17, 2024, to close at $409.04 per share on July 18, 2024.
The lawsuit alleges that Domino’s made false and/or misleading statements and/or failed to disclose that: (i) DPE, the Company’s largest master franchisee, was experiencing significant challenges with respect to both new store openings and closures of existing stores and(ii) as a result, Domino’s was unlikely to meet its own previously issued long-term guidance for annual global net store growth.
If you purchased or otherwise acquired Domino’s securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this CONTACT FORM, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
investigations@kmllp.com
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New supportive housing for Indigenous 2SLGBTQI+ community in Edmonton
EDMONTON, AB, Oct. 18, 2024 /CNW/ – Today the federal government and Edmonton 2 Spirit (E2S) announced $6.84 million in funding for 24 supportive living homes for Indigenous 2SLGBTQI+ community members removing themselves from gender-based violence in greater Edmonton and surrounding Northern Alberta communities.
The project, owned and operated by E2S, will be developed into two, energy efficient buildings with 24 supportive living spaces, including transitional homes and shelter spaces, for all societies of Two Spirit peoples. These homes will cater to their unique needs including vulnerability to violence, trauma and further marginalization affecting their physical and mental health. Support programs and services will be available on-site through trained support staff, ensuring residents have the resources needed to heal and rebuild.
The federal government is dedicated to enabling Indigenous communities reach their housing goals through various programs and initiatives, including the Indigenous Shelter and Transitional Housing Initiative (ISTHI). A subsidy for ongoing operations and support will also be provided by Indigenous Services Canada (ISC). Construction will begin this fall and the first building is expected to be completed in 2025.
Total funding for this project is as follows:
- $6.84 million from the federal government through the Indigenous Shelter and Transitional Housing Initiative, delivered by Canada Mortgage and Housing Corporation (CMHC)
- Subsidy from ISC for ongoing operations and support
“Indigenous 2SLGBTQI+ community members face steep housing and social obstacles across Canada – but especially in Alberta. They deserve a safe space to call home. So we’re delivering just that. Today, we’re investing $6.84 million in 24 supportive living homes right here in Edmonton. This means more homes for our Indigenous Queer neighbours, more affordability and one fewer obstacle for them to overcome.” – The Honourable Randy Boissonnault, Minister of Employment, Workforce Development and Official Languages
“Everyone deserves to live in safety and dignity. Our support for the Peyakôskân Centre is vital in addressing critical service gaps by establishing a dedicated space for Indigenous 2SLGBTQI+ and gender diverse individuals facing gender-based violence. This center will offer culturally appropriate programs, services, and resources to help them rebuild their lives and reclaim their identities. Today’s groundbreaking marks a significant step toward creating a more equitable Canada for all.” – The Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible of FedNor
“Our way as Indigenous People is to ensure that we have every opportunity walk in a healthy way, Physically, Mentally, Emotionally and Spiritually, and to support each other in that journey. With affordable and safe housing, 2 Spirit and gender diverse people have opportunity to find our balance, and live a healthy way after experiencing violence. We can then grow to support others as they walk their own journeys, our ways, Indigenous ways, 2 Spirit ways, because we are all related.” – Quinn Wade, Housing Manager of Edmonton 2 Spirit Society
Quick facts:
- Canada’s National Housing Strategy (NHS) is a 10-year, $115+ billion plan that will give more Canadians a place to call home.
- NHS is built on strong partnerships between the federal, provincial, and territorial governments, and continuous engagement with municipalities, Indigenous governments and organizations, and the social and private housing sectors. It was created after consultations with Canadians from all walks of life, including those who have experienced housing need. All NHS investments delivered by the federal, provincial and territorial governments will respect the key principles of NHS that support partnerships, people and communities.
- The $724.1 million Indigenous Shelter and Transitional Housing Initiative was launched in November 2021 to support the construction of additional shelters and transitional homes for Indigenous women, children, and 2SLGBTQQIA+ individuals fleeing gender-based violence, including in urban areas and in the North.
- The funding is part of the $724.1 million budget for a comprehensive Violence Prevention Strategy, as announced in the 2020 Fall Economic Statement, of which:
-
- Canada Mortgage and Housing Corporation (CMHC) is allocating $420 million over 5 years to support the construction of new shelters and transitional housing.
- Indigenous Services Canada (ISC) is investing $304.1 million over five years, and $96.6 million annually to support the operational costs of new shelters and transition homes and expand funding for culturally relevant violence prevention activities.
- CMHC and ISC sought input from Indigenous organizations and subject matter experts to form committees and develop the evaluation process
- Eligible applications are evaluated by Indigenous-led committees comprised of representatives from CMHC, ISC, Indigenous organizations, subject matter experts in shelters and housing delivery, as well as people with lived experience. This ensures selected projects are culturally appropriate and meet the needs of clients. The committees provide overall direction and prioritization, as well as review and score proposals.
- The Federal Pathway is Canada’s contribution to the broader 2021 Missing and Murdered Indigenous Women, Girls, and 2SLGBTQIA+ People National Action Plan developed in partnership with provincial and territorial governments, Indigenous Peoples, survivors, families, and Indigenous women’s organizations in response to the National Inquiry into Missing and Murdered Indigenous Women and Girls.
- Call for Justice 4.7, 16.19 and 18.25 of the Final Report of the National Inquiry into Missing and Murdered Indigenous Women and Girls call for all governments to support the establishment and funding of shelters, safe spaces, transition homes, second-stage housing, and services for Indigenous women, girls, and 2SLGBTQQIA+ people.
- The Missing and Murdered Indigenous Women and Girls Crisis Line is available to provide emotional support and crisis referral services to individuals impacted by the issue of Missing and Murdered Indigenous Women, Girls and 2SLGBTQI+ people. Call the toll-free Crisis Line at 1-844-413-6649. This service is available 24 hours a day, 7 days a week.
Associated Links:
- Visit Canada.ca/housing for the most requested Government of Canada housing information.
- As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC’s aim is that everyone in Canada has a home they can afford and that meets their needs. For more information, please visit cmhc.ca or follow us on X, Instagram, YouTube, LinkedIn and Facebook.
- To find out more about the National Housing Strategy, visit: www.placetocallhome.ca.
- More information about the Indigenous Shelter and Transitional Housing Initiative can be found here: ISTHI
- Visit Housing for Indigenous Peoples for more information on Programs and subsidies that support the building and management of housing for Indigenous Peoples
- Check out the National Housing Strategy Housing Funding Initiatives Map to see affordable housing projects that have been developed across Canada. Information on the Family Violence Prevention Program is available at: Family Violence Prevention Program (sac-isc.gc.ca)
- More information about the Government of Canada’s work with partners to end violence against Indigenous women, girls and 2SLGBTQI+ people can be found here:
SOURCE Government of Canada
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Flexsteel Industries's Earnings: A Preview
Flexsteel Industries FLXS will release its quarterly earnings report on Monday, 2024-10-21. Here’s a brief overview for investors ahead of the announcement.
Analysts anticipate Flexsteel Industries to report an earnings per share (EPS) of $0.62.
Anticipation surrounds Flexsteel Industries’s announcement, with investors hoping to hear about both surpassing estimates and receiving positive guidance for the next quarter.
New investors should understand that while earnings performance is important, market reactions are often driven by guidance.
Here’s a look at Flexsteel Industries’s past performance and the resulting price change:
| Quarter | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|
| EPS Estimate | 0.56 | 0.56 | 0.24 | |
| EPS Actual | 0.75 | 0.67 | 0.57 | 0.14 |
| Price Change % | -2.0% | -16.0% | 8.0% | 5.0% |
Tracking Flexsteel Industries’s Stock Performance
Shares of Flexsteel Industries were trading at $43.68 as of October 17. Over the last 52-week period, shares are up 118.49%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release.
To track all earnings releases for Flexsteel Industries visit their earnings calendar on our site.
This article was generated by Benzinga’s automated content engine and reviewed by an editor.
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Medical Sensors Market to Surpass Market Valuation of USD 4.14 Billion by 2031 | SkyQuest Technology
Westford, USA, Oct. 18, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the Global Medical Sensors Market will reach a value of USD 4.14 Billion by 2031, with a CAGR of 8.1% during the forecast period (2024-2031). Medical sensors market is witnessing substantial growth owing to improvements in technology, growing focus on patient diagnostics and monitoring, and growing healthcare needs. The leading drivers of the market comprise the growing geriatric population that demand medical sensors, rising incidences of chronic illnesses, and mounting demand for home-based solutions. Furthermore, innovations in wearable and IoT technology are significantly impacting the market progress.
Browse in-depth TOC on the “Medical Sensors Market”
Pages – 165
Tables – 73
Figures – 75
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Medical Sensors Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 2.22 Billion |
| Estimated Value by 2031 | USD 4.14 Billion |
| Growth Rate | Poised to grow at a CAGR of 8.1 % |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | End-Use Products, Medical Device Classification, Medical Facility, Sensor Type, Medical Procedure, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Growing number of patent filings by major market players |
| Key Market Opportunities | Mounting Adoption of Surgical Robots |
| Key Market Drivers | Growing Demand for Wearable Medical Devices |
Medical Sensors Market Segmental Analysis
Global Medical Sensors Market is segmented on the basis of end-use products, medical device classification, medical facility, medical procedure, sensor type, and region.
By end-use products, the market is segmented into Diagnostic Imaging Devices, Patient Monitoring Devices, Medical Implantable Devices, and Other End-Use Products.
By Medical Device Classification, the market is segmented into Class I, Class II, and Class III.
By Medical Facility, the market is segmented into Hospitals & Clinics, Nursing Homes, Assisted Living Facilities, Long-Term Care Centers, and Home Care Settings, and other medical facilities.
By Medical Procedure, the market is segmented into Noninvasive Medical Procedures, Minimally Invasive Medical Procedures, and Invasive Medical Procedures.
By Sensor Type, the market is segmented into temperature sensors, Pressure Sensors, Blood Glucose Sensors, Blood Oxygen Sensors, Electrocardiogram (ECG) Sensors, Image Sensors, Motion Sensors, Heart Rate Sensors, Flow Sensors, Ingestible Sensors, Touch Sensors, Piezo Film Sensors, and Position Sensors.
By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Get Customization on this Report for Specific Research Solutions: https://www.skyquestt.com/speak-with-analyst/medical-sensors-market
Pressure Sensors to Dominate Market Owing to Vital Applications for Monitoring
By sensor type, the pressure sensors segment led the medical sensors market with maximum share and will continue dominance over the forecast period owing to crucial applications and improvements in sensors. Pressure sensors are crucial solutions for monitoring major signs like respiratory functions and blood pressure, which increases their importance in clinics. The segment is also being fueled by enhancements in miniaturization and integration with wearables. This has improved their reliability and usability, thus impacting the segment’s growth.
However, the temperature sensors segment is the fastest-growing segment observed in the market due to its importance for patient monitoring and broader applications. For diagnosing and monitoring infections, measurement of accurate body temperature is important. These sensors offer great efficiency for such applications, thus the segment’s growth. Temperatures are also used in different settings like home healthcare and hospitals for infants and adults.
Diverse Applications in Monitoring and Diagnosis to Support Growth of Class II Segment
By medical device classification, the class II segment is projected to led the market owing to its importance in several crucial healthcare applications, aiding their popularity. They are utilized in several diagnostic and monitoring purposes like temperature and pressure sensors that majorly need regulatory controls. They are also broadly used in multiple applications like key sign monitoring, treatment, and diagnosis, thus increasing their market demand.
Nonetheless, the class I segment is observed to be the fastest-growing owing to their simplicity and minimal regulatory needs. They comprise primary sensors and are largely used in numerous applications but lack advanced functionalities. Hence, their simplified usage is supporting the growth for Class I devices.
Mounting Demand for Medical Sensors to Drive Market in North America
North America held a larger share of the market owing to advanced healthcare infrastructure and growing demand for monitoring devices. North America holds technologically advanced and developed healthcare systems with superior technologies. The regional growth is also impacted by heavy investments in healthcare research and development. Also, increasing incidences chronic illnesses is majorly driving the need for constant monitoring devices and solutions.
Asia-Pacific is the fastest-growing region and is projected to lead the market over the forecast period owing to speedy progress in healthcare and favorable government initiatives. Asia-Pacific is witnessing notable growth in investment in healthcare and infrastructure. This increases access to medical technologies for patients. Several nations are adopting initiatives and health policies that encourage the use of medical technologies, thus impacting the market growth in the region.
Medical Sensors Market Insight
Drivers:
- Growing Incidences of Chronic Diseases
- Growth of Remote Patient Monitoring
- Emphasis on Preventive Healthcare
Restraints:
- Lengthy Approval Processes
- Significant Development Costs for Advanced Medical Sensors
- Concerns Associated with Data Privacy
Take Action Now: Secure Your Medical Sensors Market Today – https://www.skyquestt.com/buy-now/medical-sensors-market
Prominent Players in Medical Sensors Market
- TE Connectivity
- Medtronic
- Analog Devices, Inc.
- Texas Instruments Incorporated
- STMicroelectronics
- Tekscan, Inc.
- NXP Semiconductors
- Sensirion AG
- ON Semiconductor Corporation
- Amphenol Corporation
- Koninklijke Philips N.V.
- AMS-OSRAM AG (Austria)
- Abbott
- Honeywell International Inc.
- Cirtec
- Innovative Sensor Technology IST AG
- Keller Druckmesstechnik AG
- Omnivision
- Merit Medical Systems, Inc.
- Infineon Technologies AG
- Masimo
- VivaLNK, Inc.
- Microchip Technology Inc.
- Siemens Healthineers AG
- Renesas Electronics Corporation
Key Questions Answered in Global Medical Sensors Market Report
- What is the growth rate and size of the Medical Sensors Market, according to SkyQuest Technology?
- What are the major trends and advancements reshaping the Medical Sensors Market?
- What are the key opportunities observed in the Medical Sensors Market?
Read Medical Sensors Market Report Today – https://www.skyquestt.com/report/medical-sensors-market
This report provides the following insights:
Analysis of key drivers (rise of telemedicine, supportive policies and funding in healthcare technologies, growing health awareness), restraints (technical complexity, low awareness in progressing markets, heavy reliance on healthcare infrastructure), opportunities (innovations in implantable and wearables, growth of home healthcare, integration with big data and AI), and challenges (intensified market competition, disturbances in supply chain of components, regulatory hurdles) influencing the growth of medical sensors market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the medical sensors market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the medical sensors market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
Related Reports:
Disposable Medical Sensors Market is growing at a CAGR of 18.45% in the forecast period (2024-2031)
Medical MEMS Market is growing at a CAGR of 3.6% in the forecast period (2024-2031)
Electronic Skin Market is growing at a CAGR of 19.73% in the forecast period (2024-2031)
Medical Imaging Market is growing at a CAGR of 5.2% in the forecast period (2024-2031)
Diagnostic Imaging Services Market is growing at a CAGR of 5% in the forecast period (2024-2031)
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
Contact:
Mr. Jagraj Singh
SkyQuest Technology
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Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
US Stocks Set To End Week Strong As Netflix Q3 Earnings Boost Optimism, Gold Hits New Highs: What's Driving Sentiment Friday?
Wall Street is priming for a positive start on Friday after the major averages ended narrowly mixed in the previous session. Positive reaction to Netflix, Inc.’s NFLX earnings could provide a lift to the tech space, given earnings news flow from the sector will likely start in earnest next week. Earnings and speeches by Federal Reserve officials could set the tempo for Friday’s session. China’s third-quarter GDP rose slightly more than estimates, allaying the fears of traders. Gold continues to make record after record, while oil continues to have a volatile ride amid geopolitical tensions.
| Futures | Performance (+/-) |
| Nasdaq 100 | +0.39% |
| S&P 500 | +0.17% |
| Dow | +0.03% |
| R2K | +0.46% |
In premarket trading on Friday, the SPDR S&P 500 ETF Trust SPY rose 0.23% to $583.61 and the Invesco QQQ ETF QQQ jumped 0.51% to $493.75, according to Benzinga Pro data.
Cues From Last Session:
U.S. stocks closed narrowly mixed as traders digested a batch of mixed economic data as well as a flurry of earnings. After opening higher, the major indices experienced some volatility in the morning, although holding mostly above the unchanged line.
Stocks gave back most of their gains in late afternoon trading before finishing on a mixed note.
The Dow Industrials closed at fresh intraday and closing highs, thanks to a positive reaction to Travelers Companies, Inc.’s TRV earnings, while the S&P 500 Index hit an intraday high before squandering all the gains and closing marginally lower.
| Index | Performance (+/) | Value |
| Nasdaq Composite | +0.04% | 18,373.61 |
| S&P 500 Index | +0.02% | 5,841.47 |
| Dow Industrials | +0.37% | 43,239.05 |
| Russell 2000 | -0.25% | 2,280.85 |
Insights From Analysts:
After separate reports showed strong September retail sales growth, jobless claims, which fell after Hurricane Helene’s impact wore off, and a decline in industrial production amid the Boeing Co. BA strike, Comerica Chief Economist Bill Adams said, “The economy is in pretty good shape.” “Since consumer spending fuels two-thirds of U.S. demand, the economy can’t be doing too bad as long as consumers still have their pocketbooks open,” he said.
The economist expects the Hurricanes that devastated swathes of the Southeast in late September and early October to be a big drag on releases for October. This will make it difficult to read the underlying trend accurately, he said.
Calling the headwinds temporary, Adams said, “With the Fed expected to continue lowering interest rates through the turn of the year, credit-sensitive sectors of the economy should perk up in coming quarters, sustaining the economic expansion into 2025.”
See Also: Best Futures Trading Strategies in 2024
Upcoming Economic Data:
- The Commerce Department will release the housing starts report for September at 8:30 a.m. EDT. Economists, on average, estimate housing starts to come in at a seasonally adjusted annual rate of 1.35 million units, slightly down from the 1.36-million-unit rate in August. Building permits, an indicator of future housing starts may have declined from 1.48 million units to 1.45 million units.
- Among the Fed speakers scheduled for the day are:
- Atlanta Fed president Raphael Bostic: 9:30 a.m. EDT
- Minneapolis Fed President Neel Kashkari: 10 a.m. EDT
- Fed Governor Christopher Waller is due to speak at 12:10 p.m. EDT.
- The Atlanta Fed’s GDPNow data for the third quarter will be released at 10:30 a.m. EDT.
Stocks In Focus:
- Netflix climbed about 5.75% in premarket trading following the streaming giant’s quarterly results.
- Among the other stocks moving on earnings are Intuitive Surgical, Inc. ISRG (up nearly 7%), and Western Alliance Bancorporation WAL (down over 5.25%.
- Ally Financial Inc. ALLY, Autoliv, Inc. ALV, Fifth Third Bancorp FITB, Procter & Gamble Company PG, Regions Financial Corporation RF and Schlumberger Limited SLB and American Express Company AXP are among the noteworthy companies reporting ahead of the market opening.
- CVS Health Corporation CVS fell over 10% after the Wall Street Journal reported that the company is naming longtime executive David Joyner as its new chief, succeeding Karen Lynch.
- Coherent Corp. COHR fell over 6% on a negative analyst action.
Commodities, Bonds And Global Equity Markets:
Crude oil futures pulled back modestly but gold futures gained ground as they scaled a fresh record. Bitcoin BTC/USD added over 1.50% over the past 24 hours and traded just under the $68K mark.
The 10-year U.S. Treasury note yield was little changed at 4.097%.
Asian stocks closed mostly higher, led by China and Hong Kong, which rallied on the back of the Chinese third-quarter GDP data. The Japanese market benefited from the yen’s weakness. The European Central Bank’s rate cut also buoyed sentiment.
The European markets also advanced in early trading, although the U.K. market was experiencing some weakness.
Read Next:
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Bank Earnings Propel Wall Street To Record Peaks, Oil Plunges Below $70, Gold Shines At All-Time Highs: This Week In The Market
Wall Street powered ahead this week as stronger-than-expected bank earnings and upbeat guidance pushed the S&P 500 and Dow Jones Industrial Average to record highs.
The September retail sales report positively surprised expectations, while a notable drop in weekly jobless claims reinforced the perception that the U.S. economy remains strong.
This momentum has led some economists to reconsider their expectations for the Federal Reserve’s next move, with growing doubts about the likelihood of further interest rate cuts as the economy races at full throttle.
The recent upswing in Treasury yields brought a twist to the housing market, sending mortgage rates soaring and hammering mortgage demand. Homebuyers pulled back sharply, with mortgage applications recording the sharpest weekly plunge since the depths of the pandemic in April 2020.
In the commodities market, oil prices tumbled below the $70-per-barrel mark, marking their worst weekly performance since December 2022. The selloff was triggered by a slight easing of tensions in the Middle East, though the geopolitical landscape remains fraught with risk.
Gold’s Bullish Trend
Gold, as tracked by the SPDR Gold Trust GLD, shined bright this week, surging to an all-time high above $2,700 per ounce. The precious metal logged four consecutive days of gains, cementing its status as a safe-haven asset ahead of the highly awaited U.S. presidential elections. Bank of America sees further upside to $3,000 per ounce.
Netflix Beats Expectations
Netflix Inc. NFLX reported strong third-quarter earnings, exceeding both revenue and EPS forecasts, and provided bullish guidance for the fourth quarter. The streaming giant anticipates a significant subscriber boost, largely driven by the popularity of “Squid Game” and its upcoming global content expansions.
Bitcoin ETF Inflows
BlackRock’s iShares Bitcoin Trust IBIT saw strong inflows, surpassing $1 billion in a week, indicating strong institutional interest. Fidelity leads Ethereum ETFs with $31 million in assets, reflecting growing demand for cryptocurrency exposure in traditional investment vehicles.
iPhone 16 Sales
Apple Inc. AAPL‘s iPhone 16 experienced a 20% sales increase in China, fueled by strong demand. The absence of AI capabilities led to early price cuts, highlighting competitive market pressures and evolving consumer expectations for advanced smartphone features.
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MicroStrategy's 'Nav Premium' Shouldn't be Feared, Says Benchmark, Raising Price Target to $245
-
Benchmark has raised its price target for MicroStrategy’s stock from $215 to $245.
-
Analyst Mark Palmer argued the value of the company’s bitcoin holdings and its software business will continue to increase.
-
He also believes that the company’s high stock price is justified as it provides more value than just holding massive amounts of bitcoin.
Bears on MicroStrategy’s (MSTR) high stock price thanks to its perky valuation compared to the amount of its bitcoin {{BTC}} holdings are overlooking the company’s “unique” shareholder value, investment banking firm Benchmark said in a research report on Friday.
“We believe the ability of MSTR to generate compounding yield on its bitcoin holdings, using what management describes as “intelligent leverage,” differentiates its stock from alternative means of gaining exposure to bitcoin such as spot bitcoin ETFs,” Benchmark analyst Mark Palmer wrote.
Already bullish on the stock, Palmer reiterated his buy rating and lifted his price target to $245 from $215. Alongside a rise in the price of bitcoin to $68,400, MSTR shares are higher by 6.6% Friday to $206.19.
Led by Executive Chairman Michael Saylor, the stock of self-described Bitcoin Development Company currently trade at a 2.4X premium to the value of its bitcoin holdings, with some traders thusly believing that holding the equity instead of BTC itself (or the spot ETFs) is a bad move.
MicroStrategy’s net asset value (NAV) is calculated by dividing MSTR’s market capitalization by the value of its bitcoin stack. The NAV premium recently touched a new high of 2.5 times its bitcoin holdings, with a company market cap north of $41 billion against bitcoin holdings of around $17 billion.
Benchmark believes MicroStrategy’s business model justifies the premium to NAV and that traders should focus on the company’s BTC Yield. Introduced by Saylor and team earlier this year, Bitcoin Yield tracks the effectiveness of bitcoin investments by measuring the percentage change over time of the ratio between MSTR’s bitcoin holdings and its fully diluted share count. The Bitcoin Yield stood at 17.8% through September 19 compared to 1.8% and 7.3% in 2022 and 2023, respectively, according to Benchmark’s data.
Fluoropolymer Market is set to expand at 5.2% CAGR from 2024 to 2034, attaining a Valuation of USD 7.3 billion | States Transparency Market Research, Inc.
Wilmington, Delaware, United States, Transparency Market Research Inc. -, Oct. 18, 2024 (GLOBE NEWSWIRE) — The global fluoropolymer industry (불소중합체 산업) was worth US$ 3.9 billion in 2023. A CAGR of 5.2% is projected between 2024 and 2034, resulting in a market value of US$ 7.3 billion in 2034. The fluoropolymer industry may see increased focus on sustainability due to regulatory restrictions and market demand. Manufacturers can allocate resources toward sustainable production methods, reusable materials, and biodegradable substitutes for conventional fluoropolymers.
Automation, the Internet of Things, and artificial intelligence (AI) are examples of Industry 4.0 technologies that could completely transform the production of fluoropolymers, resulting in more productivity, lower waste, and better product quality. The development of biomaterials, drug delivery systems, and sophisticated medical equipment will probably be greatly aided by fluoropolymers. Advancements in this field may result in better patient outcomes, lower healthcare expenses, and more business potential for producers of fluoropolymers.
Using lightweight materials such as fluoropolymers is becoming increasingly popular as the automotive industry focuses on fuel efficiency and emissions reduction. Fluoropolymers are lightweight, durable, and chemically resistant, making them an ideal choice for automotive components. As a result of their durability, non-stick properties, and safety, fluoropolymer-based products are highly sought after on the consumer products market.
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Many industries, such as chemical processing, automotive, and electronics, rely on fluoropolymers for their special properties, including chemical resistance, high-temperature stability, and low friction. Fluoropolymers are becoming increasingly popular among industries like aircraft, semiconductors, and pharmaceuticals due to the growing demand for high-performance materials.
Key Findings of the Market Report
- Around the world, semiconductors are used in various electronic devices and systems.
- The Asia Pacific region held the largest share of the global market share in 2023.
- In 2023, polytetrafluoroethylene captured the largest share of the market.
- Based on application, pharmaceutical packaging will likely drive fluoropolymer demand.
Global Fluoropolymer Market: Growth Drivers
- Strict environmental regulations and an increased focus on sustainability drive the demand for fluoropolymers. Compared with traditional materials, these materials have a reduced environmental impact, driving the market upward.
- Due to ongoing technological advancements and product innovations in fluoropolymer production processes and formulations, new grades and varieties are developed with improved qualities, expanding their application scope and accelerating market growth.
- The semiconductor industry’s growing demand for high-purity materials and components necessitates fluoropolymers for semiconductor production processes such as etching, deposition, and wafer handling. The growing demand for these products is fueling the market’s expansion.
- In the medical and healthcare sectors, as well as pharmaceutical manufacturing and healthcare facilities, fluoropolymers are an important component considered biocompatible, chemical resistant, and sterile.
- Fluoropolymers are used in various consumer products since they are durable, non-stick, and resistant to acids and chemicals, such as textiles, coatings, and packaging.
Global Fluoropolymer Market: Regional Landscape
- Asia Pacific is driving demand for the fluoropolymers market. Fluoropolymers are in high demand in the chemical processing and building industries due to rising industrialization and infrastructural development in nations like China and India. The need for fluoropolymers in the manufacturing of semiconductors and electronic components is boosted by the growth of the electronics manufacturing industry in nations like South Korea and Japan.
- Increasing industrial and automotive use of fluoropolymer linings and coatings contributes to market growth. As aerospace and defense sectors demand high-performance materials, fluoropolymers are in greater demand. Environmental regulations and sustainability programs have made fluoropolymers an environmentally friendly substitute in nations such as South Korea and Japan.
- Healthcare is expanding, creating a greater need for fluoropolymers for pharmaceutical packaging and medical devices. China and India’s chemical processing sector is a major driver of the demand for corrosion-resistant pipes, tanks, and equipment made from fluoropolymers.
- With growing emphasis on water treatment and purification in countries, fluoropolymer membranes and filtration systems are becoming more important. Chemically resistant and thermally stable, fluoropolymers are highly regarded for fuel systems, hoses, and gaskets where the automobile industry is on the rise.
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Global Fluoropolymer Market: Competitive Landscape
The inorganic expansion of fluoropolymer market manufacturers aims to establish strong footholds in the industry. Fluoropolymers are also in high global demand, generating increased production capacity among key players.
Key Players Profiled
- E.I DuPont De Nemours and Company
- Solvay SA
- Asahi Glass Co. Ltd.
- 3M
- Daikin Industries Ltd.
- Honeywell International Inc.
- The Chemours Company
- Maxichem S.A.B. de C.V.
- Compagnie de Saint-Gobain SA
- W.L. Gore & Associates Inc.
- Zeus Industrial Products Inc.
Key Developments
- In July 2022, Daikin Industries, Ltd. invested in TeraWatt Technology Inc. Using fluorochemicals as the basis for its FUSION 25 strategic management plan, Daikin established new markets.
- Daikin plans to build its proposition capabilities with partners like customers and startups to grow markets like semiconductors, automobiles, lithium-ion batteries, and IT. With this investment, Daikin expects to improve its battery technology and develop new materials and applications.
Global Fluoropolymer Market: Segmentation
By Product Type
- Polytetrafluoroethylene
- Polyvinylidene Difluoride
- Fluorinated Ethylene Propylene
- Others
By Application
- Pharmaceutical Packaging
- Medical Devices
- Drug Delivery
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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