More stories

  • in

    Zoetis shares jump on beat-and-raise

    The company, a global leader in animal health, announced an adjusted diluted EPS of $1.38 for the first quarter of 2024, exceeding the analyst consensus by $0.03. Revenue also beat expectations, coming in at $2.2 billion against a forecasted $2.15 billion.The company’s revenue represented a 10% increase from the same quarter last year, with operational growth reaching 12%. Adjusted net income saw a 15% operational increase, reflecting robust financial health. Zoetis credited its performance to a 16% revenue growth in the U.S. and an 8% operational increase internationally. The companion animal portfolio, which grew by an impressive 20% operationally, was particularly highlighted for its contribution, driven by strong sales in pet parasiticides, osteoarthritis pain, and dermatology products.CEO Kristin Peck expressed pride in the company’s first-quarter achievements, attributing the success to Zoetis’ diverse portfolio and innovation in the animal health market. “We achieved 16% revenue growth in the U.S. and 8% operational revenue growth internationally,” Peck stated, emphasizing the company’s commitment to investing in future growth.Looking forward, Zoetis has updated its full-year 2024 guidance, now expecting revenue to be between $9.050 billion and $9.200 billion, with an adjusted EPS forecast of $5.71 to $5.81. This guidance places the midpoint of the EPS range slightly below the consensus estimate of $5.78, while the revenue guidance brackets the consensus of $9.157 billion. The company also anticipates an operational revenue growth of 8.5% to 10.5% and a 13% to 15% increase in adjusted net income for the full year.Investors reacted positively to the earnings beat and the upward revision of the company’s outlook, as reflected in the stock’s 4% climb. The market’s response underscores confidence in Zoetis’ ability to maintain its growth trajectory and continue delivering shareholder value.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

  • in

    HPChain is Revving Up the Web3 GPU DePIN Ecosystem With “Mine-Share-as-a-Service”

    Dive into the future with HPChain, the trailblazer in GPU rental services. As a leading provider in the industry, HPChain is dedicated to deliver unparalleled performance at a minimal cost to support the growth of digital creation in Gaming and AI, while empowering the community to participate and potentially profit from these technological advancements. Beyond merely offering Cloud GPU services, the HPChain ecosystem aims to foster an environment where minds converge and share in the wealth of resources available through the “Mine-Share-as-a-Service” model that is made decentralized by the “Proof of Compute” consensus algorithm.HPChain’s “Mine-Share-as-a-Service””Mine-Share as a Service” is a term coined by HPChain which epitomizes their vision for the Web3 GPU DePIN ecosystem. It embodies the core ethos of the ecosystem – a collective endeavor where resources, from GPU power to intellectual capital, are shared for the benefit of all. From the profound insights of professional experts, like AI datasets and algorithms to the rich intellectual property of gaming studios, the active engagement of the general community and keen individuals, everyone in the HPChain ecosystem can contribute value to drive adoption forward. This is how it reflects through the business flywheel -Proof of Compute”Proof of Compute” is the methodology for quantifying and validating the GPU power contributed and used within the HPChain ecosystem. As the foundational pillar of the HPChain network, it establishes a standardized framework for assessing the computational capabilities provided by GPUs. Through this verification method, the potency and reliability of GPU resources are accurately measured, ensuring transparency and efficiency in resource allocation.By anchoring the HPChain ecosystem on Proof of Compute, the network cultivates a dynamic environment where the provision and utilization of GPU power are seamlessly integrated, driving the innovation and growth of our platform.Here is how HPChain uses “Proof of Compute” to decentralize and secure their DePIN platform: Node Onboarding: Each contributor to the HPChain GPU supply, such as computing power providers and on-chain validators, are collectively referred to as nodes.GPU Power Provisioning: The system calculates a device’s computational power size in P units based on its computing power and location. GPU power providers stake HPChain tokens according to their computational power, while the validator nodes ensure the GPU power provided is proper and that the applications are running smoothly.To learn more about HPChain platform’s core technology, users can refer here.HPChain is making steady progress in developing the HPChain ecosystem and preparing for the launch of HPC token, with focus on community engagement. Be the first to catch the wave of updates, breakthroughs, and community shout-outs.About HPChainHPChain is building a decentralized high-computing network on the blockchain. HPChain is solving the GPU supply challenges using their cost-effective, decentralized network powered by DePIN Web3 Protocol, empowering AI and cloud gaming developers globally.Users can join the HPChain Community on: Website | Twitter | Telegram | Farcaster | LinkedIn | Medium | YouTubeUsers can join HPChain’s whitelist to be part of HPChain’s early bird community and get exclusive access through Soquest and Galxe.ContactMarketing LeadVrushal KapadnisHPChainvrushal@hpchain.aiThis article was originally published on Chainwire More

  • in

    Catastrophic Bitcoin (BTC) Plunge, XRP Surprisingly Calm, Cardano (ADA) Loses Lifeline Support Level

    Fear intensifies as the 100-day Exponential Moving Average is on the verge of falling. If this level breaks, it could signify the end of the bullish trend that has propelled Bitcoin to its recent highs. Such a shift would not just be a setback; it would mark a fundamental reversal in market sentiment.BTC/USD Chart by TradingViewFurther fueling concerns is the noticeable increase in trading volume, which suggests a rise in selling pressure. This heightened activity indicates that more traders are moving to offload their holdings, anticipating lower prices ahead, or trying to cut their losses, which adds to the downward pressure on Bitcoin.Bitcoin’s immediate support can be seen around the $50,000 mark, represented by the 200-day moving average. This level is critical; if it holds, it might provide a temporary relief or even a base for a potential recovery. However, if this support breaks, the next key level would be around $48,000.On the resistance side, Bitcoin faces an uphill battle. The $60,000 threshold, once a support level, now turns into a significant resistance. Overcoming this will be crucial for Bitcoin to regain its upward momentum and reassure investors of its strength.Despite the general market downturn, XRP has managed to hold above the critical support level at $0.49. This stability is significant, as maintaining above this support level helps prevent further bearish momentum that could lead to steeper declines. XRP’s current price hovers around $0.49, barely clinging to this essential support level. The resistance to watch is near the $0.56 mark, which XRP has tested multiple times in recent weeks but has failed to break through consistently.Looking ahead, the future of XRP could go either way. If the market stabilizes or if positive sentiment returns, XRP might capitalize on its current stability and start an upward trajectory. The breakdown below $0.44 has not only weakened the technical outlook for ADA but has also instilled bearish sentiment across its trading landscape. This loss of support has opened up the potential for further declines, with the next critical support level now at $0.40. If ADA fails to hold this level, it could trigger a further slide toward the $0.38 mark, deepening the crisis for holders of the token.On the flip side, for ADA to regain some stability and possibly reverse its downward trajectory, it will need to reclaim and stabilize above the former support-now-turned-resistance at $0.44. A successful push above this level could see ADA aiming for the next resistance near $0.48, providing a glimmer of hope for a recovery scenario.The volume of trading and market sentiment will play critical roles in determining whether ADA can stabilize and reclaim higher price levels or if it continues to slide further.This article was originally published on U.Today More

  • in

    RWA in Focus: MAS Regulated Digital Asset Custodian, Propine Introduces Support for Fathom Dollar $FXD Stablecoin on XDC Network

    MAS-regulated custodian Propine is announcing its support for Fathom Dollar’s FXD, a stablecoin pegged to the US dollar and designed to bridge the $5 trillion trade finance gap. This development positions FXD at the forefront of real-world assets (RWA), leveraging the power of blockchain to enhance global trade finance operations. Propine, licensed by the Monetary Authority of Singapore, is a prominent digital asset custodian serving large institutional clients. FXD is a stable-price cryptocurrency over-collateralised by the XDC network token and RWA, including trade finance assets. It has emerged as a use case-driven solution amidst growing concerns over the trade finance gap. It has been a significant barrier to global trade, particularly affecting small and medium-sized enterprises (SMEs). By offering a stable and reliable transaction medium and store of value, FXD aims to facilitate essential functions in a $30 trillion global trade finance market. This includes cross-border transactions, borrowing against receivables, and generally turning trade finance into an alternative investment class for non-banks. Propine is a licensed, audited, and insured digital asset custodian headquartered in Singapore. The company is engaged in transforming how digital assets are stored and traded by providing reliable, secure, and scalable solutions to institutional clients. Propine also enables investors to tokenize previously illiquid asset classes such as corporate bonds, real estate, private equity, funds, art, natural resources, and derivatives. The company is geared to support clients in unlocking their potential within a regulatorily compliant and legally robust framework.To learn more, users can visit Propine.com or follow Propine on LinkedIn, YouTube, X (Formerly Twitter)About Fathom ProtocolFathom is a liquidity protocol where users can deposit XDC tokens or RWA collateral and borrow the FXD. This opens up programmatic financing solutions for individuals and businesses that were previously not available. Furthermore, investors and savers can (re)invest their FXD for competitive yields. The Fathom DAO is governed by FTHM token holders who can vote on onboarding new collateral types, interest rates, and more. Fathom is built on the XDC network to be at the center of its Institutional DeFi ecosystem. https://fathom.fi/ About XDC Network:XDC Network is an open-source, carbon-neutral, enterprise-grade, EVM-compatible, Layer 1 blockchain that has been operationally successful since 2019. The network obtains consensus via a specially delegated proof-of-stake (XDPoS) technique that allows for 2-second transaction times, near-zero gas expenses ($0.0001), over 2000 TPS, and interoperability with ISO 20022 financial messaging standards. The XDC Network powers a wide range of novel blockchain use cases, including trade finance, payment, and RWA tokenization, that are secure, scalable, and highly efficient. Website: xinfin.org | xdc.orgContactVP Marketing & Biz DevTaniya SinghPropineTaniya.Singh@Propine.comThis article was originally published on Chainwire More