Launch One Acquisition Stock (NASDAQ: LPAAU)

Latest news for Launch One Acquisition (NASDAQ:LPAAU) Stock

Launch One Acquisition Corp is a blank check company.

Launch One Acquisition Corp

B. Riley Securities analyst Craig Ellis reiterates Silvaco Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SVCO#NASDAQ">SVCO</a>) with a Buy and maintains $26 price target.

News

Price Target

Reiteration

Analyst Ratings

SVCO

B. Riley Securities Reiterates Buy on Silvaco Group, Maintains $26 Price Target

WIIM

TD Bank Group shares are trading higher. The company announced its CEO will retire on April 10, 2025.

The Federal Reserve&#8217;s decision to cut rates by a <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead">hefty 0.5% on Wednesday</a> should be helpful to small- to medium-sized companies in the cloud computing space by making it easier for them to refinance debt, according to an analyst.
Piper Sandler analyst James Fisher pointed to five such firms in particular that may benefit the most, given their heavy debt loads: Bandwidth, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BAND#NASDAQ">BAND</a>), DigitalOcean Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOCN#NYSE">DOCN</a>), Fastly, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSLY#NYSE">FSLY</a>), RingCentral, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNG#NYSE">RNG</a>), and Five9, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>).
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40878710/investors-bet-on-50-basis-point-rate-cut-wall-street-analysts-urge-caution-this-is-">Investors Bet On 50-Basis-Point Rate Cut, Wall Street Analysts Urge Caution: &#8216;This Is A Low-Conviction Fed&#8217;</a>
&#8220;A few names in our coverage will need to refinance debt over the next few years,&#8221; he wrote in a note on Wednesday.
He noted Bandwidth has $250 million in debt coming due in March 2026 and DigitalOcean has $1.5 billion in debt maturing in December 2026. He also pointed out Fastly needs to pay up $347 million by March 2026 and RingCentral has $609 million in debt coming due in March 2026.
He said lower interest rates may better help these companies better assume the interest costs on their debt.
Price Action: These companies all saw gains into Thursday&#8217;s late-morning trading.
<ul>
<li>Bandwidth rose 1.61% to $17.64</li>
<li>Digital Ocean gained 2.38% to $41.75</li>
<li>Fastly picked up 2.98% to $7.25</li>
<li>RingCentral went up 2.04% to $30.70</li>
<li>Five9 went up 2% to $29.09</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40937291/bank-stocks-hit-inflection-point-after-feds-50-basis-point-cut-analyst-reveal-top-p">Bank Stocks Hit Inflection Point After Fed&#8217;s 50 Basis Point Cut, Analyst Reveals Top Picks</a></li>
</ul>
Photo: Shutterstock

Analyst Color

Federal Reserve

Tech

BAND

DOCN

FIVN

FSLY

Fed Rate Cut Eases Debt Refinancing For Smaller Cloud Computing Firms: Analyst Flags 5 Stocks To Watch

B. Riley Securities analyst Mike Crawford maintains Intuitive Machines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUNR#NASDAQ">LUNR</a>) with a Buy and raises the price target from $8 to $12.

LUNR

B. Riley Securities Maintains Buy on Intuitive Machines, Raises Price Target to $12

Momentum investing is essentially the opposite of the tried-and-tested Wall Street adage -- &quot;buy low and sell high.&quot; Investors following this investing style typically avoid betting on cheap stocks and waiting long for them to recover. They believe instead that one could make far more money in lesser time by &quot;buying high and selling higher.&quot;
Who doesn&#39;t like betting on fast-moving trending stocks? But determining the right entry point isn&#39;t easy. Often, these stocks lose momentum once their valuation moves ahead of their future growth potential. In such a situation, investors find themselves loaded up on expensive shares with limited to no upside or even a downside. So, going all-in on momentum could be risky at times.
It could be safer to invest in bargain stocks that have been witnessing price momentum recently. While the Zacks Momentum Style Score, which pays close attention to trends in a stock&#39;s price or earnings, is pretty useful in identifying great momentum stocks, our &#39;Fast-Paced Momentum at a Bargain&#39; screen comes handy in spotting fast-moving stocks that are still attractively priced.
There are several stocks that currently pass through the screen and Interface (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tile#NASDAQ">TILE</a>) is one of them. Here are the key reasons why this stock is a great candidate.
Investors&#39; growing interest in a stock is reflected in its recent price increase. A price change of 6.3% over the past four weeks positions the stock of this carpet tile company well in this regard.
While any stock can see a spike in price for a short period, it takes a real momentum player to deliver positive returns for a longer time frame. TILE meets this criterion too, as the stock gained 28.4% over the past 12 weeks.
Moreover, the momentum for TILE is fast paced, as the stock currently has a beta of 1.98. This indicates that the stock moves 98% higher than the market in either direction.
Given this price performance, it is no surprise that TILE has a Momentum Score of B, which indicates that this is the right time to enter the stock to take advantage of the momentum with the highest probability of success.
In addition to a favorable Momentum Score, an upward trend in earnings estimate revisions has helped TILE earn a Zacks Rank #1 (Strong Buy). Our research shows that the momentum-effect is quite strong among Zacks Rank #1 and #2 stocks. That&#39;s because as covering analysts raise their earnings estimates for a stock, more and more investors take an interest in it, helping its price race to keep up.
Most importantly, despite possessing fast-paced momentum features, TILE is trading at a reasonable valuation. In terms of Price-to-Sales ratio, which is considered as one of the best valuation metrics, the stock looks quite cheap now. TILE is currently trading at 0.86 times its sales. In other words, investors need to pay only 86 cents for each dollar of sales.
So, TILE appears to have plenty of room to run, and that too at a fast pace.
<a href="https://www.zacks.com/stock/news/2338366/why-fast-paced-mover-interface-tile-is-a-great-choice-for-value-investors?cid=CS-BENZ-FT-tale_of_the_tape|fast_paced_momentum_at_a_bargain-2338366">To read this article on Zacks.com click here.</a>

Earnings

Small Cap

Markets

Trading Ideas

TILE

Why Fast-Paced Mover Interface Is a Great Choice for Value Investors

On Thursday, Roche Holdings AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RHHBY#OTC">RHHBY</a>) released positive topline results of the phase 3 CENTERSTONE study of Xofluza (baloxavir marboxil), an antiviral that showed a reduction in the transmission of influenza viruses.
The <a target="_blank" href="https://www.roche.com/media/releases/med-cor-2024-09-19" rel="noreferrer noopener">study</a> met its primary endpoint, demonstrating that a single oral dose of Xofluza taken by people infected with influenza significantly reduced the likelihood of others in their household contracting the virus.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/09/40881407/back-to-back-fda-approvals-for-roches-two-under-the-skin-injections" rel="noreferrer noopener">Back-To-Back FDA Approvals For Roche&#8217;s Two Under-The-Skin Injections</a>.
Xofluza was well tolerated, and no new safety signals were identified.
CENTERSTONE is the first global phase 3 study to show a transmission reduction benefit with an antiviral used to treat a respiratory viral illness.
This new data may add to the benefits of Xofluza, which is currently approved for treating symptoms and preventing infection following virus exposure.
"Building on Xofluza's established efficacy in treating and preventing influenza after exposure, this new evidence of transmission reduction represents an important advance that could help improve health outcomes at an individual and community level," said Levi Garraway, M.D., Ph.D., Roche's Chief Medical Officer and Head of Global Product Development. "We look forward to discussing these data with regulatory authorities and public health organizations for influenza pandemic preparedness to bring these benefits to patients."
Influenza is one of the most common yet serious infectious diseases. Every year, seasonal influenza infects an estimated one billion people and causes millions of hospitalizations and up to 650,000 deaths globally.
Federal funds from the US Department of Health and Human Services, the Administration for Strategic Preparedness and Response, and the Biomedical Advanced Research and Development Authority have partially supported the CENTERSTONE study.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/09/40936160/factset-research-q4-earnings-revenue-and-profit-beat-adds-188-new-clients-margin-boost-and-more" target="_blank" rel="noreferrer noopener">FactSet Research Q4 Earnings: Revenue And Profit Beat, Adds 188 New Clients, Margin Boost And More</a>.</li>
</ul>

Biotech

Large Cap

Eurozone

Health Care

General

RHHBY

Roche's Antiviral Drug Reduces Transmission Of Influenza Viruses, Late-Stage Study Shows

A media company that Ex-President Donald Trump co-founded <a href="https://www.benzinga.com/news/24/09/40939390/trump-media-technology-group-stock-slides-as-lockup-expiration-looms-whats-going-on">passed its lockup expiration</a> on Thursday.
Shareholders of Trump Media &amp; Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) from before the company went public, have been subject to a 180-day lockup agreement. They are now free to sell their shares that were part of the 180-day lockup.
Trump&#8217;s stake — 114,750,000 shares — has a $1.7 billion valuation as of Thursday.
If Trump sells his shares, he <a href="https://www.benzinga.com/general/politics/24/06/39417590/trump-could-cash-out-3-2b-stake-in-namesake-media-company-and-still-maintain-voting-control">will still maintain control </a>over the company thanks to a special voting class of shares. Trump is the only holder of the other class of stock created. He has 55% voting power of the company if he holds one of the higher class shares.
Trump <a href="https://www.benzinga.com/m-a/23/08/33878846/trump-to-maintain-control-of-media-company-if-he-sells-majority-goes-to-jail-or-becomes-president">can also retain control</a> of the company if he&#8217;s re-elected president or ends up in prison (he was found guilty of <a href="https://www.benzinga.com/general/politics/24/05/39100065/trump-found-guilty-on-all-34-counts-in-hush-money-criminal-trial-heres-what-happens-next">34 felony counts</a>), filings show.
During a California rally on Friday, an audience member asked whether Trump would sell his stake.
<a href="https://www.benzinga.com/general/social-media/24/09/40860859/trump-media-technology-shares-surge-former-president-says-hes-not-selling-or-leaving-truth-s">&#8220;No, I&#8217;m not selling</a>,&#8221; Trump responded. &#8220;No, I love it.&#8221;
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent091924">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Trump Media &amp; Technology owns the Truth Social platform, a conservative-leaning alternative to Facebook and Twitter, now X.com. 
Trump oversaw the platform&#8217;s launch <a href="https://www.benzinga.com/news/21/01/19087281/twitter-permanently-bans-president-donald-trump-citing-risk-of-further-incitement-of-violence">after his suspension</a> from several major social networks following the Jan. 6 <a href="https://www.benzinga.com/government/21/01/19049660/washington-dc-descends-into-anarchy-as-trump-supporters-storm-us-capitol-delay-electoral-college-vot">Capitol riot in 2021</a>.
Trump Media&#8217;s share price soared in March when the SPAC merger with <a href="https://www.benzinga.com/m-a/24/03/37943780/exclusive-trump-media-company-goes-public-financial-experts-say-djt-a-meme-stock-this-is-going-to-be">Digital World Acquisition closed</a>. Shares opened at $70.90 on March 26 and hit a high of $79.38 shortly after. Trump's wealth soared as the company valuation reached $8 billion. 
Trump Media&#8217;s stock price fell 15%, to $15.84, on Wednesday, Sept. 11 — the morning after <a href="https://www.benzinga.com/news/24/09/40808499/trump-vs-harris-debates-results-are-in-flash-poll-shows-resounding-majority-pick-vice-president-as-w">the debate</a> between Trump and Vice President Kamala Harris. The shares closed at $16.68, down more than 10% on that day.
While shares of the Trump media company have spiked and remained volatile during the 2024 election and around legal events for the former president, the stock is down year-to-date and has hit several new post-SPAC merger 52-week lows in recent weeks.
Investors should be aware of potential risks if Trump and other shareholders sell their stake, as it could lead to more downward pressure on the stock and also increase the float.
Trump brushed off the declining share price, blaming the U.S. Securities and Exchange Commission (SEC) for causing "nothing but problems," and added that investors are worried he's leaving the platform.
"I'm not going to sell my shares. I don't need money,&#8221; he said.
If Trump changes his mind, he will have to disclose to the SEC that he sold stock as a 10% or larger owner of the company.
While Trump may not sell his shares, other backers of the company may choose to do so. Investor ARC Global, which owns around 13.1 million shares, registered shares for sale back in April.
In the meantime, the former president continues to use Truth Social to convey his campaign messages and opinions (i.e., &#8220;<a href="https://www.benzinga.com/news/24/09/40870369/trumps-i-hate-taylor-swift-met-with-witty-response-from-harris-campaign-the-american-people-want-to">I HATE TAYLOR SWIFT</a>&#8220;).
DJT Price Action: Trump Media &amp; Technology stock is down 4% to $14.99 on Thursday, hitting a new post-public low of $14.77 earlier in the day.
Check This Out:
<ul>
<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent091924">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Image: Shutterstock

Social Media

Politics

Movers

Donald Trump Can Cash Out His Trump Media & Technology Stock, Keep Company Control: Here's How Many Shares He Owns

B. Riley Securities analyst Ryan Pfingst initiates coverage on Oklo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKLO#NYSE">OKLO</a>) with a Buy rating and announces Price Target of $10.

Initiation

OKLO

B. Riley Securities Initiates Coverage On Oklo with Buy Rating, Announces Price Target of $10

Macro Economic Events

Global

Economics

iShares MSCI Israel Capped Investable Market Index Fund

ISRA

Israel Defence Minister Gallant Says Hezbollah Feels Hounded And Will Pay Increasing Price; New Phase Of War Includes Both Opportunities As Well As Serious Risks; Military Actions Will Continue

A renowned financial advisor, lawyer, and CEO of Creative Planning, Peter Mallouk, has expressed concerns about the future of the Registered Investment Advisory (RIA) industry despite projections that it will exceed <a href="https://www.benzinga.com/personal-finance/financial-advisors">$2.92 trillion by 2029.</a>
Mallouk discussed industry news with The Daily Upside at Future Proof, the world&#8217;s largest wealth festival, in Huntington Beach, CA.
&#8220;The market has been on a 15-year bull run and just gone straight up. When the markets normalize, there will be a mass slaughter. I mean, it's going to be really bad, and it's going to happen in a very short, multiyear period," he said, adding that many RIA's have grown complacent, owing to the success of the broad industry.
However, the market might struggle to hear him over the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40938732/wall-street-ramps-up-interest-rate-cut-bets-after-fed-meeting-the-hard-landing-crow">sounds of its fireworks</a>. The FED has just cut interest rates by 50 basis points, equities are at fresh all-time highs, and the RIA industry seems to thrive.
Franklin Templeton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEN#NYSE">BEN</a>), an industry leader, manages as many as 455 open-ended mutual funds, while Invesco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVZ#NYSE">IVZ</a>) <a href="https://www.benzinga.com/news/earnings/24/07/39910961/invesco-q2-earnings-beat-despite-yy-revenue-decline">recently reported</a> a 12% year-over-year increase in assets under management, surpassing $1.7 trillion. Despite these figures demonstrating the industry&#8217;s momentum, Mallouk believes many firms could be vulnerable if market conditions change.
Mallouk also points to larger economic risks, particularly related to deficit spending – which is set to reach $1.9 trillion in 2024, up from $1.7 trillion in 2023.
&#8220;It's really hard to get your brain around just how much money is sloshing around the system and what deficit spending does to the economy," he said.
Technology is another area where Mallouk sees both promise and peril. While advancements like artificial intelligence (AI) can enhance efficiency and scalability, they also introduce risks, including cybersecurity threats and misinformation.
Canadian veteran financial planner Jason Pereira recently echoed a similar sentiment, particularly addressing the hype surrounding generative AI.
&#8220;Generative AI is the most meaningful technological change since mobile computing,&#8221; he wrote <a href="https://www.kitces.com/blog/generative-ai-artificial-intelligence-advisor-technology-chat-gpt-software-innovation/">for</a> Kitces. While recognizing it as the biggest transformative advancement in years, he cautions that its full impact won&#8217;t be felt immediately.
&#8220;Can they expect to find an AI tool that changes everything today? Quite simply, no. Can it happen in 10 years? That's a much more probable outcome,&#8221; he noted.
Pereira stresses that while AI can speed up certain processes, its effectiveness depends on how well advisors understand and use the technology. 
&#8220;It doesn't make things better; it makes things faster—if you know what you're doing,&#8221; he explained, suggesting that firms should focus on mastering technology rather than relying on it to solve all their problems.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40937291/bank-stocks-hit-inflection-point-after-feds-50-basis-point-cut-analyst-reveal-top-p">Bank Stocks Hit Inflection Point After Fed&#8217;s 50 Basis Point Cut, Analyst Reveals Top Picks</a></li>
</ul>
Photo: Shutterstock

Financial Advisors

Personal Finance

'Mass Slaughter': Wealth Manager Warns Of Market Correction, Digital Disruption As ETF, Passive Investing Goes Up And To The Right

The company is issuing the following statement following the research report published by Culper Research today: &nbsp;
In our view, the report is misleading, inaccurate and misrepresents our business.
Being the first company from Kazakhstan to successfully list on Nasdaq has obviously raised our profile amongst short sellers.
For those investors who have known us over the years, our reputation speaks for itself.

Short Sellers

KSPI

Kaspi.kz Issues Statement On Short-Seller Research; Says "In Our View, The Report Is Misleading, Inaccurate And Misrepresents Our Business. Being The First Company From Kazakhstan To Successfully List On Nasdaq Has Obviously Raised Our Profile Amongst Short Sellers. For Those Investors Who Have Known Us Over The Years, Our Reputation Speaks For Itself."

Shares of Achilles Therapeutics plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACHL#NASDAQ">ACHL</a>) surged Thursday after the biotechnology firm revealed plans to discontinue its TIL-based cNeT program and close its ongoing Phase I/IIa <a href="https://www.benzinga.com/general/biotech/24/09/40935561/achilles-therapeutics-discontinued-its-til-based-cnet-program-and-closed-phase-12a-chiron-and-the">clinical trials, CHIRON and THETIS.</a>
What To Know: Achilles announced it will refocus its strategy to explore collaborations with third parties developing alternative modalities for targeting clonal neoantigens in cancer treatment. These potential partnerships could involve neoantigen vaccines, antibody-drug conjugates (ADCs) and TCR-T therapies.
In conjunction with this strategic shift, the company engaged BofA Securities as a financial advisor to explore value-maximizing strategies. These could include acquisitions, mergers, or asset sales, although the company emphasized that there is no guarantee of any transactions resulting from this process.
Dr. Iraj Ali, CEO of Achilles Therapeutics, stated, &#8220;Our data continue to illustrate the importance of clonal neoantigens as targets and show some clinical activity, however our studies in lung cancer and melanoma have not met our goals for commercial viability.&#8221; He added that the company remains committed to driving the development of effective treatments for patients and creating long-term value for shareholders.
As part of its strategic update, Achilles is implementing cost-cutting measures, including a proposed workforce reduction. The company has initiated an employee consultation process in compliance with UK legislation. Despite these measures, Achilles intends to retain employees essential for supporting value-realization during its strategic review.
ACHL Price Action: Achilles shares were up by 36.1% at 96 cents according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a>
<figure class="wp-block-image size-large is-resized"><a href="https://benzinga.slack.com/archives/D072651PB4K/p1722883001180099"><img loading="lazy" decoding="async" width="1024" height="533" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19113932/ACHL-1024x533.png" alt="" class="wp-image-556615" style="width:474px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19113932/ACHL-1024x533.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19113932/ACHL-300x156.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19113932/ACHL-768x400.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19113932/ACHL.png 1431w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
See Also:
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/technicals/24/09/40942441/stock-of-the-day-home-depot-agrees-to-settlement-while-overbought-signals-warn-of-potent">Stock Of The Day: Home Depot Agrees To Settlement, While Overbought Signals Warn Of Potential Sell-Off</a></li>
</ul>
Image: Steve Buissine from Pixabay.

ACHL

Achilles Therapeutics Shares Are Trading Higher: What You Need To Know

Oppenheimer analyst Ken Wong maintains HubSpot (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUBS#NYSE">HUBS</a>) with a Outperform and maintains $625 price target.

HUBS

Oppenheimer Maintains Outperform on HubSpot, Maintains $625 Price Target

LAAC

Shares of lithium stocks are trading higher amid a rise in the metal's price after the Fed cut rates by 50 basis points at the FOMC yesterday.

Axcelead DDP has already been engaged in multiple drug discovery projects in the neuroscience area to identify candidate compounds since October 2022. Acadia and Axcelead DDP have entered into the Master Service Agreement so that Axcelead DDP can more efficiently and comprehensively support certain new drug discovery projects of Acadia. Axcelead DDP will provide drug discovery support to Acadia by leveraging its integrated drug discovery platform, deep knowledge and extensive experience in drug discovery research to potentially generate high-quality candidate compounds.
A new drug discovery project under the executed MSA has been launched at the same time. Axcelead DDP will receive an upfront fee, research funding and milestone fees as in the previous projects. Details of the financial terms regarding the Master Service Agreement and the new project are not disclosed.

Contracts

ACAD

Axcelead Drug Discovery Partners Enters Into Master Service Agreement For Drug Discovery Projects With Acadia Pharmaceuticals To Support Their Goal Of Discovering And Developing Innovative And Novel Medicines To Help Address Unmet Medical Needs; No Financial Terms Disclosed

Jefferies analyst Randy Giveans maintains Navios Maritime Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NMM#NYSE">NMM</a>) with a Buy and raises the price target from $65 to $80.

Jefferies Maintains Buy on Navios Maritime Partners, Raises Price Target to $80

Investors are always looking for stocks that are poised to beat at earnings season and Jefferies Financial Group Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jef#NYSE">JEF</a>) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Jefferies Financial is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings &mdash; with the most up-to-date information possible &mdash; is a pretty good indicator of some favorable trends underneath the surface for JEF in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at 84 cents per share for JEF, compared to a broader Zacks Consensus Estimate of 80 cents per share. This suggests that analysts have very recently bumped up their estimates for JEF, giving the stock a Zacks Earnings ESP of +5.66% heading into earnings season.
<h2>Jefferies Financial Group Inc. Price and EPS Surprise</h2>
<div class="chart_embed">
<img alt="Jefferies Financial Group Inc. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/03/1726742586.png" style="height:266px; width:538px" title="" />
Jefferies Financial Group Inc. price-eps-surprise | Jefferies Financial Group Inc. Quote
</div>
<h2>Why is this Important?</h2>
A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns.
Given that JEF has a Zacks Rank #2 (Buy) and an ESP in positive territory, investors might want to consider this stock ahead of earnings.
Clearly, recent earnings estimate revisions suggest that good things are ahead for Jefferies Financial, and that a beat might be in the cards for the upcoming report.
<a href="https://www.zacks.com/stock/news/2338354/why-earnings-season-could-be-great-for-jefferies-financial-jef?cid=CS-BENZ-FT-tale_of_the_tape|earnings_surprise-2338354">To read this article on Zacks.com click here.</a>

Why Earnings Season Could Be Great for Jefferies Financial

Authorities have arrested two individuals involved in a sophisticated <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40799485/cryptocurrency-scams-cost-americans-5-6b-in-2023-fbi-report-shows">$243 million cryptocurrency heist</a> targeting a Genesis creditor.
What Happened: The arrests were made after an intensive investigation into a social engineering scheme carried out by a group of cybercriminals, which included compromising personal accounts and exploiting cryptocurrency platforms.
Onchain investigator ZachXBT <a href="https://x.com/zachxbt/status/1836753450672988649">said</a> the crime, which occurred on Aug. 19, began when the attackers impersonated Google Support via a spoofed phone number to gain access to the victim's personal accounts.
They followed up with a second call pretending to be Gemini support, claiming the victim's account was compromised. 
Using these social engineering tactics, the attackers convinced the victim to reset their two-factor authentication (2FA) and transfer funds to a compromised wallet. 
The hackers also gained access to the victim's private keys via AnyDesk, a remote desktop tool.
Once in control of the funds, the cybercriminals swiftly moved $243 million across multiple wallets, splitting it between several individuals involved in the scheme. 
According to ZachXBT's investigation, the stolen funds were transferred between various cryptocurrencies—including Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Litecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ltc/usd">LTC</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Monero (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xmr/usd">XMR</a>)—through at least 15 different exchanges.
Key figures in the crime, identified as Greavys (Malone Iam), Wiz (Veer Chetal), and Box (Jeandiel Serrano), played distinct roles in the operation.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40937057/bitcoin-ethereum-etfs-see-over-50m-net-outflows-despite-feds-50-bps-rate-cut">Bitcoin, Ethereum ETFs See Over $50M Net Outflows Despite Fed&#8217;s 50 Bps Rate Cut</a>
Notably, Wiz accidentally leaked his full name during a screen-sharing session, helping investigators to confirm his identity. 
Box, who posed as a representative from the Gemini exchange, also left a trail linking him to the stolen funds through reused profile pictures and wallet addresses.
Authorities were able to track the criminals&#8217; movements thanks to open-source intelligence (OSINT), with Greavys flaunting his newly acquired wealth on social media. 
His lavish lifestyle, which included spending $250,000 to $500,000 a night in clubs and gifting luxury Birkin bags, contributed to his eventual capture.
The investigation, which involved collaboration between Binance Security, CFInvestigators and zeroshadow_io, resulted in the freezing of more than $9 million in stolen funds.
Additionally, $500,000 has already been returned to the victim. 
The efforts culminated in the arrests of both Box and Greavys in Miami and Los Angeles.
What&#8217;s Next: As incidents like this become more prevalent, discussions about improving cybersecurity and regulatory measures in the digital asset space will likely take center stage at Benzinga's <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19.
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Cybercriminals Busted For $243M Crypto Heist: They Spent Hundreds Of Thousands In Night Clubs And On Luxury Gifts

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Trimble shares are trading higher after JP Morgan maintained a Neutral rating on the stock and raised its price target from $58 to $66.

Darden Restaurants, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) shares are trading higher. The company <a href="https://www.benzinga.com/pressreleases/24/09/n40935235/darden-restaurants-reports-fiscal-2025-first-quarter-results-declares-quarterly-dividend-and-reite" target="_blank" rel="noreferrer noopener">reported first-quarter financial results today.</a>
The company reported adjusted earnings per share of $1.75, missing <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">the analyst consensus estimate of $1.83. </a>Quarterly sales of $2.76 billion missed the street view of $2.80 billion.
&#8220;While we fell short of our expectations for the first quarter, I firmly believe in the strength of our business,&#8221; said&nbsp;Darden President&nbsp;&amp; CEO&nbsp;Rick Cardenas.
Darden&#8217;s directors have approved a quarterly cash dividend of $1.40 per share on the company&#8217;s outstanding common stock. This dividend will be paid on November 1 to shareholders, as recorded as of the close of business on October 10.
In the quarter, the company repurchased around 1.2 million shares of its common stock for a total of $172 million. By the end of the fiscal first quarter, there was $743 million left under the existing $1 billion repurchase authorization.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40939931/darden-restaurants-posts-q1-results-joins-tesla-nvidia-xpeng-and-other-big-stocks-moving-higher-on-t" rel="noreferrer noopener">Darden Restaurants Posts Q1 Results, Joins Tesla, Nvidia, XPeng And Other Big Stocks Moving Higher On Thursday</a>
The company has formed an exclusive multi-year delivery partnership with Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>), <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n40935338/darden-and-uber-partner-to-introduce-on-demand-delivery-with-olive-garden-the-first-to-pilot" rel="noreferrer noopener">starting with Olive Garden in late 2024.</a>
This agreement will allow restaurant guests to place on-demand delivery orders through Darden&#8217;s channels, with deliveries managed by Uber Direct via Uber&#8217;s national delivery network.
A pilot program for first-party delivery from select Olive Garden locations will launch in late 2024.
If the pilot is successful, national expansion at Olive Garden is anticipated to be finalized by May 2025.
Outlook: The company reiterated all aspects of its full year financial outlook for fiscal 2025, culminating in diluted net earnings per share from <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">continuing operations of&nbsp;$9.40&nbsp;to&nbsp;$9.60</a> versus $9.50 estimate, which does not include any impact from Chuy&#8217;s operations, transaction, financing and integration related costs associated with the pending acquisition.
&#8220;The significant step down in traffic during July, led to our&nbsp;first quarter&nbsp;earnings being lower than expected,&#8221; said Darden CFO Raj Vennam. &#8220;Following the softness in July, our sales trend has continued to improve.&nbsp; Considering this recovery as well as the planned initiatives to support the remainder of the fiscal year, we are reiterating our&nbsp;guidance&nbsp;for fiscal 2025.&#8221;
Price Action: DRI shares are trading higher by 7.39% to $170.90 at last check Thursday.
Photo via <a href="https://commons.wikimedia.org/wiki/File:Olive_Garden_Italian_Restaurant.jpg">Wikimedia Commons</a>
Now Read This:
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Launch One Acquisition Corp. Completes $230.0 Million Initial Public Offering

Launch One Acquisition Corp. I Announces the Separate Trading of its Class A Ordinary Shares and Warrants, Commencing September 3, 2024

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