Dernières nouvelles pour FedEx (NYSE:FDX) Stock

FedEx

FedEx pioneered overnight delivery in 1973 and remains the world's largest express package provider. In its fiscal 2024, which ended in May, FedEx derived 47% of revenue from its express division, 37% from ground, and 10% from freight, its asset-based less-than-truckload shipping segment. The remainder came from other services, including FedEx Office, which provides document production/shipping, and FedEx Logistics, which provides global forwarding. FedEx acquired Dutch parcel delivery firm TNT Express in 2016, boosting its presence across Europe. TNT was previously the fourth-largest global parcel delivery provider.

FedEx Corp

FENDX TECHNOLOGIES INC by Fendx Technologies Inc.

FendX Technologies Inc

FEDEX ORD

When navigating a changing business cycle, such as today&#39;s triggered by the Federal Reserve (the Fed) cutting interest rates, investors should focus on fundamentals and keeping a risk-to-reward profile that favors their portfolios in the coming quarters. For this reason, stocks that trade near their 52-week lows are a great place to start looking for potential value and recovery plays.
There are those who believe that stocks will trade down for a reason, and while they may be right, that isn&#39;t always the case; otherwise, value investors like Warren Buffett would have been out of business a long time ago. Fitting the list of 52-week low stocks are names like FedEx Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fdx#NYSE">FDX</a>) after a recent earnings sell-off to represent the transportation sector, coupled with another transport stock being beaten down for a while now, and Boeing Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ba#NYSE">BA</a>).
To diversify away from the transportation sector, which is highly tied to the business cycle, investors can look to the energy sector, this time at a Buffett favorite. Shares of Occidental Petroleum Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/oxy#NYSE">OXY</a>) are down despite the news of Buffett buying out, and that creates enough of a sentiment divergence for investors to start digging into the possibility of a pending recovery.
<h2>Why FedEx Stock Has No Reason to Stay at Its Lows Today</h2>
After the company reported a slower-than-expected quarter, FedEx stock crashed lower by as much as 17% from its previous highs. However, many market participants felt comfortable with buying the dip, as judged by the quick recovery, which brought the stock higher by 7.5% within the week.
Investors should look deeper into FedEx stock because management has realized what needs to be done to navigate the new business cycle, which is bringing lower business shipping demand as activity slows down. One gauge investors can use for FedEx&#39;s potential activity is the manufacturing PMI index.
As the Fed just cut interest rates, the potential for the index to bottom and start to expand again is higher than the potential for it to remain at current lows. Knowing that the risk-to-reward scale is starting to tilt in favor of buyers, Wall Street analysts have remained bullish on FedEx&#39;s future.
Those at Stephens think that FedEx stock is worth up to $350 a share, calling for a net upside of 27.2% from where the stock trades today. Even bearish traders decided to stay away from FedEx stock despite the recent sell-off, as short interest declined by 8.5% over the past month alone to signal bearish capitulation.
<h2>Buyers Are Slowly Returning to Boeing Stock at Its Lows: Is a Rebound Coming?</h2>
The average volume for Boeing stock is 8 million shares, but over the past week, this metric has risen to 18 million shares. Just like any product that attracts more activity as lower prices are taken as a discount, investors can interpret this as market sentiment voting for Boeing being on the cheaper end.
As interest rate cuts make their way through the global economy, investors can safely assume that travel demand may be on the rise, and that&#39;s where Boeing stock comes into play. The company recently sent out a press release quoting the upcoming Chinese demand for the next decade, looking to grow at high single-digits.
China also cut interest rates by 50 basis points, creating more tailwinds for future aircraft demand and leaving Boeing with up to $515.8 billion worth of backlog orders on the back of these growing trends. Realizing that these orders will eventually turn into revenue and earnings, Wall Street analysts are reflecting this trend in earnings per share (EPS) forecasts.
Analysts think Boeing could deliver up to $1.16 in EPS next year, significantly better than today&#39;s net loss of $2.9 per share. These tailwinds and forecasts drove price targets higher, as those at Jefferies Financial now value Boeing stock at $240 a share, or nearly 60% higher than today&#39;s prices.
<h2>Could Buffett Buy More Occidental Petroleum to Shake Off the Bears?</h2>
Now that Occidental Petroleum stock trades at only 72% of its 52-week high, investors might expect Warren Buffett to add to his now-losing position. As the tension grows around this possibility, the stock&#39;s short interest has declined by 2.7% in the past month and has been on a downtrend during the past quarter.
The main reason the stock is compressed today is the current oil price, which has struggled to remain above $70 consistently, significantly capping the company&#39;s earning potential. However, this shift in sentiment is starting to spill over to Wall Street, as more analysts see double-digit upside for Occidental stock in the coming months.
Those at Mizuho and Susquehanna see a respective $72 and $78 price target on Occidental Petroleum stock, which calls for as much upside as 53.5% now that the stock trades near its 52-week low. Again, as interest rate cuts work their way through the economy, business demand could trigger a new oil cycle higher.
Other oil stocks higher in the value chain, like Chesapeake Energy Co. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/chk#NASDAQ">CHK</a>), have taken off by over 20% recently on these expectations, so it is a matter of time before Occidental follows with a similar double-digit rally.
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/time-to-buy-these-3-stocks-are-trading-at-52-week-lows/">Time to Buy? These 3 Stocks Are Trading at 52-Week Lows</a>&quot; first appeared on MarketBeat.

Earnings

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Analyst Ratings

Trading Ideas

Time to Buy? These 3 Stocks Are Trading at 52-Week Lows

Whales with a lot of money to spend have taken a noticeably bearish stance on FedEx.
Looking at options history for FedEx (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) we detected 14 trades.
If we consider the specifics of each trade, it is accurate to state that 14% of the investors opened trades with bullish expectations and 71% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $338,220 and 8, calls, for a total amount of $676,611.
<h3>Predicted Price Range</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $200.0 to $300.0 for FedEx during the past quarter. 
<h3>Analyzing Volume &amp; Open Interest</h3>
In today's trading context, the average open interest for options of FedEx stands at 612.2, with a total volume reaching 2,616.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in FedEx, situated within the strike price corridor from $200.0 to $300.0, throughout the last 30 days.
<h3>FedEx 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727813763_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>FDX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/25/24</td>
<td>$4.7</td>
<td>$4.6</td>
<td>$4.6</td>
<td>$275.00</td>
<td>$230.0K</td>
<td>408</td>
<td style="text-align: right;">593</td>
</tr>
<tr>
<td>FDX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$83.05</td>
<td>$80.75</td>
<td>$82.29</td>
<td>$200.00</td>
<td>$164.5K</td>
<td>85</td>
<td style="text-align: right;">20</td>
</tr>
<tr>
<td>FDX</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>11/15/24</td>
<td>$9.4</td>
<td>$9.2</td>
<td>$9.3</td>
<td>$270.00</td>
<td>$116.2K</td>
<td>972</td>
<td style="text-align: right;">468</td>
</tr>
<tr>
<td>FDX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$6.5</td>
<td>$6.15</td>
<td>$6.49</td>
<td>$220.00</td>
<td>$97.5K</td>
<td>767</td>
<td style="text-align: right;">10</td>
</tr>
<tr>
<td>FDX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$14.95</td>
<td>$14.9</td>
<td>$14.95</td>
<td>$270.00</td>
<td>$62.7K</td>
<td>2.3K</td>
<td style="text-align: right;">306</td>
</tr>
</tbody>
</table>

<h3>About FedEx</h3>
FedEx pioneered overnight delivery in 1973 and remains the world's largest express package provider. In its fiscal 2024, which ended in May, FedEx derived 47% of revenue from its express division, 37% from ground, and 10% from freight, its asset-based less-than-truckload shipping segment. The remainder came from other services, including FedEx Office, which provides document production/shipping, and FedEx Logistics, which provides global forwarding. FedEx acquired Dutch parcel delivery firm TNT Express in 2016, boosting its presence across Europe. TNT was previously the fourth-largest global parcel delivery provider.
After a thorough review of the options trading surrounding FedEx, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>FedEx's Current Market Status</h3>
<ul>
<li>Trading volume stands at 1,655,703, with FDX's price down by -1.51%, positioned at $269.56.</li>
<li>RSI indicators show the stock to be is currently neutral between overbought and oversold.</li>
<li>Earnings announcement expected in 79 days.</li>
</ul>
<h3>Professional Analyst Ratings for FedEx</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $311.8.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Consistent in their evaluation, an analyst from Susquehanna keeps a Positive rating on FedEx with a target price of $330. 
&#x2A; An analyst from HSBC has revised its rating downward to Hold, adjusting the price target to $300. 
&#x2A; An analyst from Baird persists with their Outperform rating on FedEx, maintaining a target price of $320. 
&#x2A; An analyst from Stifel has decided to maintain their Buy rating on FedEx, which currently sits at a price target of $321. 
&#x2A; Maintaining their stance, an analyst from Loop Capital continues to hold a Hold rating for FedEx, targeting a price of $288. 
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for FedEx, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Options

FedEx Unusual Options Activity

To gain an edge, this is what you need to know today.
<figure class="wp-block-image size-large is-resized"><img decoding="async" src="https://thearorareport.com/wp-content/uploads/2024/10/2024-10-01_08h10_05.png" alt="" style="width:624px" /></figure>
<h3 class="wp-block-heading">Important Data Ahead</h3>
Please <a href="https://thearorareport.com/chart-analysis-stock-market-dip-powell-blind-money-spy-mc-10012024">click here</a> for an enalrged chart of SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) which represents the benchmark stock market index S&amp;P 500 (SPX).
Note the following:
<ul>
<li>The chart shows the dip in the market caused by Powell's remarks. Powell pushed back against aggressive rate cut bets that the momo crowd has placed. Powell clearly said that the Fed plans on two 25 bps cuts this year assuming the economy stays on the expected trajectory. The momo crowd is counting on 100 bps cut. Even non-momo investors are betting on 75 bps cuts.</li>
<li>The chart shows the dip on Powell's remarks was aggressively bought, running the stock market higher than where it was before Powell's remarks. The buying appears to be related to quarter end window dressing.</li>
<li>Momo gurus' new narrative to persuade their followers to buy stocks is to not trust the Fed.&nbsp; Prudent investors always need to be mindful that momo gurus' interest is not the same as prudent investors' best interest.</li>
<li>There are two important pieces of data ahead.
<ul>
<li>JOLTS job openings data will be released at 10am ET.</li>
<li>ISM Manufacturing index will also be released at 10am ET.</li>
<li>Both of these pieces of data may be market moving.</li>
</ul>
</li>
<li>The most important economic data this week is the jobs report, also known as the mother of all reports, that will be released at 8:30am ET on Friday.</li>
<li>Expect blind money to flow into the stock market today and tomorrow.&nbsp; Blind money is the money that flows into the stock market on the first two days of the month without any analysis irrespective of market conditions.</li>
<li>East coast port workers have gone on strike. FedEx Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) is a beneficiary.  As full disclosure, FDX was recently added to the portfolio that surrounds the Core Model Portfolio in The Arora Report&#8217;s ZYX Buy, taking advantage of the dip on earnings.  The Arora Report utilizes over 50 different strategies. FDX belongs to the strategy of earnings patterns that historically work. </li>
<li>In important news for prudent investors, Michael Dell has sold $1.22B in Dell Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) shares.&nbsp; Michael Dell is taking advantage of the run up in Dell shares on the AI frenzy.&nbsp; The momo crowd is oblivious and has been an aggressive buyer of DELL stock.</li>
<li>Prudent investors should also note that there is a consistent pattern of insiders selling AI stocks that have run up.&nbsp; It is important to pay attention to the protection band as well as to separate articles indicating putting on hedges or taking partial profits.</li>
</ul>
<h3 class="wp-block-heading">Japan</h3>
Japan's new prime minister is likely to favor tighter fiscal policy and tighter monetary policy.  Such tighter policies will be good for the Japanese yen.  As full disclosure, there is a position in yen using Invesco CurrencyShares Japanese Yen Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXY#NYSE">FXY</a>) in The Arora Report&#8217;s ZYX Allocation.  On the negative side, tighter fiscal and monetary policies in Japan increase the risk to the carry trade.  Lately, in the carry trade, funds have been borrowing in yen and investing in U.S. stocks, especially AI stocks.
<h3 class="wp-block-heading">Magnificent Seven Money Flows</h3>
In the early trade, money flows are positive in Alphabet Inc Class C (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).
In the early trade, money flows are negative in Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), and Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>).
In the early trade, money flows are mixed in (SPY) and Invesco QQQ Trust Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>).
<h3 class="wp-block-heading">Momo Crowd And Smart Money In Stocks</h3>
Investors can gain an edge by knowing money flows in SPY and QQQ.  Investors can get a bigger edge by knowing when smart money is buying stocks, gold, and oil.  The most popular ETF for gold is SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>).  The most popular ETF for silver is iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>).  The most popular ETF for oil is United States Oil ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>).
<h3 class="wp-block-heading">Bitcoin</h3>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is range bound.
<h3 class="wp-block-heading">Protection Band And What To Do Now</h3>
It is important for investors to look ahead and not in the rearview mirror.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp; The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp; If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash.&nbsp; A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp; When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp; High beta stocks are the ones that move more than the market.
<h3 class="wp-block-heading">Traditional 60/40 Portfolio</h3>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less.&nbsp; Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter-benzinga">Generate Wealth Newsletter</a>.

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Powell Stock Market Drip Aggressively Bought, Important Data And Blind Money Ahead

FedEx Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fdx#NYSE">FDX</a>) is a solid business, but its latest results give another reason to fear that a recession is near. The company underperformed in all metrics, contracting versus an expectation to grow and reducing guidance in what may be the first of several reductions this year. The FedEx news sent ripples of fear through the entire transportation sector, driving share prices for competitors like United Parcel Service&nbsp;and J.B. Hunt Transportation Services (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jbht#NASDAQ">JBHT</a>) down.
The takeaway is that the calendar Q3 earnings reporting season will be disappointing, and there is also an economic concern. FedEx and other shipping giants are leading indicators of the economy, but FedEx didn&#39;t grow this quarter.&nbsp; Upcoming data may reflect the weakness, which won&#39;t benefit the broader stock market.&nbsp;
<h2>Shifting Habits Offset FedEx Quality Improvements</h2>
FedEx had a strong quarter financially, generating revenue and profits sufficient to sustain operations and the capital return program. However, $21.16 billion in net revenue is down 40 basis points compared to last year and is 140 basis points shy of the consensus, with margin contraction impacting the bottom line.&nbsp;
The revenue weakness is attributed to a mix shift, with consumers turning away from higher-cost, higher-margin priority shipping to lower-cost, lower-margin options. Both operating segments contributed to the weakness, and there was one less day in the quarter. Even so, when adjusted for the day, results are still shy of consensus and come with weak and potentially optimistic guidance.&nbsp;
Margin news is mixed. The company reports further progress in its DRIVE initiative and improving structural quality. However, the consumer shift also impacted the margins, which contracted compared to last, amplified by increased wage expenses. Operating margin is down 180 bps GAAP and 170 bps adjusted, leaving net income down by 23% and adjusted EPS by 20%. The adjusted EPS is aided by share repurchases, which were accelerated this year. The company bought back $1 billion in Q1, impacting EPS by $0.03, and is forecasting another $1.5 billion in buybacks by year&#39;s end.&nbsp;
Guidance is not OK but could be better. Revenue and earnings are sufficient to sustain operational and balance sheet quality, with revenue expected to grow by year&#39;s end but reflecting reduced demand and the Q1 consumer shift. The takeaway is that the revenue target was reduced to low single digits from mid-single digits, and the earnings narrowed at the high end, and both are likely optimistic. There is little expectation for economic headwinds to improve in CQ3 and CQ4, and it will be several quarters before the FOMC&#39;s rate cuts have an impact.&nbsp;
<h2>Analysts Cap Gains in FedEx Stock, Expect Downward Pressure in Q4</h2>
The analysts are unsatisfied with FedEx&#39;s results and are reducing their price targets following the release. MarketBeat tracks over a dozen revisions within the first day of the report, including numerous price target reductions and several downgrades. Their activity has the consensus target moving lower and capping upside potential at the high end of a trading range. However, the negativity is offset by a single increased target, and a consensus is that the stock is still a buy likely to return to the top of the range, assuming subsequent reports are more favorable.
FedEx&#39;s price action confirms resistance at the top of the trading range. The market fell 15% after the report, showing strong resistance to higher prices at that level, and is likely to continue lower over the coming weeks. The best target for firm support is near the $235 level, which may be reached soon. The risk is that market sentiment will continue to sour and FDX stock will fall out of its range and move to the $200 level or lower. The opportunity for investors is to put this stock on a watchlist and wait for it to bottom. That will come in alignment with a brightening economic outlook.&nbsp;
<img alt="FedEx FDX stock chart" class="aligncenter" src="https://www.marketbeat.com/logos/articles/med_20240920090501_chart-fdx-9202024.png" style="height:426px; width:917px" />
The article &quot;<a href="https://www.marketbeat.com/originals/fedex-stock-dips-another-reason-to-fear-recession-is-near/">FedEx Stock Dips: Another Reason to Fear Recession Is Near</a>&quot; first appeared on MarketBeat.

Guidance

Buybacks

JBHT

FedEx Stock Dips: Another Reason to Fear Recession Is Near

Years ago, President Trump talked about a change in tax rates that he described as &ldquo;big league&rdquo;. It was misinterpreted as &ldquo;bigly&rdquo; and a new word entered the lexicon. Last week, the Fed pivoted and cut the fed funds rate. This cut was more than two years after Fed doves and asset gatherers started begging for a return to zero interest rates. The Fed was too late for them and too early for my liking. They went for the 50bp cut, a bigly move. Those who disagree with me about the Fed will find their proof in weaker than expected results from shipper, FedEx (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fdx#NYSE">FDX</a>). Intel (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/intc#NASDAQ">INTC</a>) makes the smart move to separate their foundry business and gets a $3B government contract (and a potential buyout). Despite being a free market advocate, I think this was a good move for all involved. We discuss how Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is a short-term proxy for the NASDAQ and a long-term hedge against inflation. Finally, Learn Wall Street gives the smart advice to do substantial research before investing and we provide two examples of why that&rsquo;s important.
This week, we&rsquo;ll address the following topics:
<ul>
<li>
The Federal Reserve pivots and cuts the fed funds rate by 50bp. More cuts on the way.
</li>
<li>
Lower rates mean more inflation which means reduced purchasing power for the dollar. Bitcoin rises on expectations for a weaker dollar.
</li>
<li>
Intel restructures and gets a big government contract. After weeks of criticizing Intel, DKI approves.
</li>
<li>
FedEx&nbsp;misses bigly supporting the decision of the Fed to cut.
</li>
<li>
If someone tells you there&rsquo;s gold underground, how do you know there&rsquo;s gold?
</li>
</ul>
Alex Petrou and Andrew Brown come through bigly delivering an almost-completed version of this week&rsquo;s 5 Things by Thursday night. Fantastic work as usual. Next week&rsquo;s 5 Things will not include the word &ldquo;bigly&rdquo;. In order to remain non-partisan, will we include the term &ldquo;unburdened by what has been&rdquo;? Probably not, but check in with us just to be certain.
Ready for a new week of big rate cuts and more inflation? Let&rsquo;s dive in:
<ul>
<li>
<a href="https://www.youtube.com/watch?v=-7aIf1YnbbU&amp;t=10s">The Fed Pivot is Here</a>:
</li>
</ul>
The Federal Reserve completed its September meeting and decided to cut the fed funds rate by 50bp (.50%). The market knew the Fed would pivot and cut at this meeting. There was debate regarding the size of the cut. I had expected 25bp (.25%). The doves in the crowd calling for the larger 50bp cut were correct. The Fed will continue its monthly quantitative tightening and will continue to shrink the size of its balance sheet (for now). Given the weaker employment data and the public comments by Chairman Powell, I&rsquo;m not surprised the Fed cut (no one is surprised at this point). I&rsquo;m a bit surprised by the larger 50bp cut because the Fed tries to appear non-partisan and non-political in its actions. Today&rsquo;s larger cut just 6 weeks before the November elections give the appearance that they&rsquo;re trying to help Democratic candidates. Public cries for a 75bp cut from prominent Democratic politicians did not help this perception.
<img alt="70s_inflation_comparison.jpg" src="https://www.benzinga.com/files/images/2024/September/25/70s_inflation_comparison.jpg" style="height:381px; width:624px" />
For those of you who were cheering for rate cuts, please look at this chart.
DKI Takeaway: I&rsquo;m probably in the minority here, but think this cut is unwise. While many claim that the US economy is already in recession, I&rsquo;m concerned that inflation is still above the 2% target and retail sales remain strong. There are still almost 8MM jobs available which is more than the number of people seeking jobs. Most importantly, Congress is still engaging in trillions of dollars of annual inflation-causing stimulus spending. (For those of you on team red or team blue, I&rsquo;m sorry to report that overspending is a bipartisan problem.) Check out the graph for this Thing where we compare the inflation of the 1960s and 1970s with the more recent numbers. You can see where former Fed Chairman, Arthur Burns, eased rates prematurely leading to a resurgence of inflation. It looks like the Powell-led Fed just made the same decision. In the end, my opinion of the wisdom of the actions of the Fed is not relevant. We get the market and conditions we get, not the ones we want. As usual, DKI will invest based on the market we have. Our portfolio is well-prepared for higher inflation over the next few years. It&rsquo;s also important to note that recent DKI stock picks are high potential-return companies that I believe won&rsquo;t be economically sensitive and can continue to grow revenue at a high level regardless of future Fed actions.
<ul>
<li>
Bitcoin Update:
</li>
</ul>
Since hitting its all-time high in March, Bitcoin has been moving sideways (really up and down), but MicroStrategy (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mstr#NASDAQ">MSTR</a>) is still buying. Recently, they raised $750 million through a convertible debt offering right after purchasing $1.1 billion of Bitcoin (18,300 BTC). The strategy is clear: stack BTC while the opportunity is still there. With the Fed cutting rates, rising inflation, and the dollar losing purchasing power, Bitcoin&rsquo;s long-term appeal as a hedge against currency debasement is becoming more important than ever. With more money printing on the horizon, Bitcoin should thrive as traditional currencies continue to lose value.
<img alt="blackrock_bitcoin.jpeg" src="https://www.benzinga.com/files/images/2024/September/25/blackrock_bitcoin.jpeg" style="height:450px; width:447px" />
BlackRock was against Bitcoin before figuring out how to make money from it.
DKI Takeaway: In the short term, Bitcoin is still behaving as a high-beta proxy for tech stocks like the Nasdaq&rsquo;s Invesco QQQ Trust (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>)&mdash;rising sharply when tech rallies and crashing hard when sentiment sours. Following the recent Fed meeting, Bitcoin jumped from $59,000 to $63,500, reflecting this tech-driven volatility. Meanwhile, BlackRock released a whitepaper titled &quot;Bitcoin: A Unique Diversifier&quot;, outlining Bitcoin&rsquo;s growing role as a non-correlated asset and stressing its importance given the looming US debt crisis. With the US debt ballooning and dollar value at risk, Bitcoin is increasingly being seen as a critical asset in a diversified portfolio, unshackled from traditional market forces. DKI has owned and recommended Bitcoin since it was $15k.
<ul>
<li>
Intel Fights Back:
</li>
</ul>
As previously reported by DKI, Intel has faced challenges in recent weeks, struggling with negative headlines related to chip malfunctions. The company is having manufacturing issues and has fallen behind in power efficiency and AI-related GPUs. However, this week brought positive news from CEO Pat Gelsinger. Gelsinger announced that Intel&rsquo;s Foundry business will be restructured as a subsidiary with its own board, allowing it to raise external capital independently. He also hinted at a potential future spinoff of this division, which serves as a manufacturing partner for tech companies developing new products. In addition, the Foundry unit has entered a partnership with Amazon Web Services (AWS) to produce custom chips. Another significant development is the $3 billion in direct federal funding Intel secured for their Secure Enclave Program.
<img alt="intel.jpg" src="https://www.benzinga.com/files/images/2024/September/25/intel.jpg" style="height:371px; width:624px" />
It&#39;s been a rough year for Intel, but the takeover talk helped the stock price.
DKI Takeaway: Intel has struggled for the past few years. Their decline began in 2020 when Apple (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) decided to move away from Intel&#39;s chips in favor of its own M series. However, this week&#39;s announcements could signal a turning point. With ongoing layoffs and the separation of their business units, the company is positioning itself for greater efficiency. The $3 billion government order is a significant boost for both the company and national security. In today&rsquo;s world, chips are essential, and an inability of the U.S. to domestically produce and develop them poses a national security risk. While DKI generally advises against additional government intervention in the economy, this is one of the rare instances where national security considerations outweigh concerns over government spending. As we were finalizing this week&rsquo;s 5 things, Qualcom (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qcom#NASDAQ">QCOM</a>) announced they are interested in buying Intel. We&rsquo;ll probably have more on that next week.
<ul>
<li>
FedEx&nbsp;Earnings Disappoints and Validates the Federal Reserve:
</li>
</ul>
On Thursday, FedEx reported disappointing earnings, with revenue of $21.6 billion falling short of the projected $21.9 billion. The company also posted earnings per share of $3.60, well below the expected $4.77. Management cited a &ldquo;mix shift&rdquo; that &ldquo;reduced demand for priority services,&rdquo; which constrained yield growth. Additionally, they revised guidance, lowering revenue growth projections from low-to-mid single digits to low single digits and adjusting fiscal 2025 EPS expectations to $20-$21, down from the previous range of $20-$22.
<img alt="fedex_stock_price_-_september_20th_2024.jpg" src="https://www.benzinga.com/files/images/2024/September/25/fedex_stock_price_-_september_20th_2024.jpg" style="height:375px; width:624px" />
Lack of shipping demand supports the Fed decision to cut.
DKI Takeaway: FedEx&rsquo;s earnings are closely tied to retail performance, as the company supports major retailers like Walmart, Target, and Home Depot. Recently, FedEx reduced its end-of-year guidance, mirroring similar actions by these retail giants. This signals a slowdown in consumer spending and increasing unemployment, key factors influencing Fed Chair Powell&rsquo;s decision to adjust policy. The disappointing earnings report led to an 11% drop in FedEx&rsquo;s stock during after-hours trading, reflecting investor concerns about the broader economic outlook affirming the Fed&rsquo;s decision to make a larger cut in the fed funds rate. DKI has disagreed with the Fed decision to cut by 50bp. If you disagree with us, weak demand at $FDX is a good place to start.
<ul>
<li>
Gold/Investment Research:&nbsp;
</li>
</ul>
As usual, our friends at <a href="https://learnwallstreet.org/">Learn Wall Street</a> make an important point about doing proper research before investing. It might be fun to buy the latest meme stock on its way &ldquo;to the moon&rdquo; as a get rich quick and easy scheme, but the market has a way of punishing those who want to avoid doing hard work. Back in the 1990&rsquo;s, Canadian mining company, Bre-X Minerals, <a href="https://www.bbc.com/news/world-us-canada-68987824">claimed it had found a huge amount of gold</a> in the Indonesian jungle. Bre-X stock rose from $.20 to $280 (Canadian dollars). Skipping ahead, there was no gold. It turns out core samples were &ldquo;salted&rdquo; meaning gold from another location was sprinkled into samples to provide the false impression of a big gold find. There was no gold. Investors lost their money. And the chief geologist (or someone who looked like him) exited a helicopter in flight. It was a terrible outcome for everyone involved.&nbsp;
<img alt="learn_wall_street_research.jpeg" src="https://www.benzinga.com/files/images/2024/September/25/learn_wall_street_research.jpeg" style="height:624px; width:624px" />
Image Credit: <a href="https://x.com/LearnWllStreet/status/1808149286623793607/photo/1">Learn Wall Street</a>
DKI Takeaway: In 2012, I attended an investment conference where a prominent hedge fund manager extoled the virtues of Viacom. At the time, most big hedge funds had huge positions in Viacom, CBS, and Disney which owned ABC and ESPN. After a week of research, I went back to a friend at a multi-billion-dollar fund which owned Viacom. I asked how he got comfortable with the risk of streaming television, YouTube, Hulu, Netflix, piracy, and DVR-powered commercial avoidance. His answer was &ldquo;I haven&rsquo;t thought about it.&rdquo; Raji and I wrote a white paper called <a href="https://deepknowledgeinvesting.com/tv-is-next/">TV is Next</a> where we correctly predicted the downfall of the traditional television model due to now-common streaming. The linear television stocks got crushed in the coming years while Netflix grew its stock price and market cap to $300 billion. The tl;dr version: if a company or a smart investor tells you something, it&rsquo;s worth the time to do your own research and come to your own conclusion.
Information contained in this report, and in each of its reports, is believed by Deep Knowledge Investing (&ldquo;DKI&rdquo;) to be accurate and/or derived from sources which it believes to be reliable; however, such information is presented without warranty of any kind, whether express or implied.&nbsp; DKI makes no representation as to the completeness, timeliness, accuracy or soundness of the information and opinions contained therein or regarding any results that may be obtained from their use.&nbsp;The information and opinions contained in this report and in each of our reports and all other DKI Services shall not obligate DKI to provide updated or similar information in the future, except to the extent it is required by law to do so.&nbsp;
The information we provide in this and in each of our reports, is publicly available. This report and each of our reports are neither an offer nor a solicitation to buy or sell securities. All expressions of opinion in this and in each of our reports are precisely that. Our opinions are subject to change, which DKI may not convey. DKI, affiliates of DKI or its principal or others associated with DKI may have, taken or sold, or may in the future take or sell positions in securities of companies about which we write, without disclosing any such transactions.
None of the information we provide or the opinions we express, including those in this report, or in any of our reports, are advice of any kind, including, without limitation, advice that investment in a company&rsquo;s securities is prudent or suitable for any investor. In making any investment decision, each investor should consult with and rely on his or its own investigation, due diligence and the recommendations of investment professionals whom the investor has engaged for that purpose.&nbsp;
In no event shall DKI be liable, based on this or any of its reports, or on any information or opinions DKI expresses or provides for any losses or damages of any kind or nature including, without limitation, costs, liabilities, trading losses, expenses (including, without limitation, attorneys&rsquo; fees), direct, indirect, punitive, incidental, special or consequential damages.

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Government

Commodities

Economics

INTC

MSTR

QCOM

5 Things To Know In Investing This Week: The We Pivoted Bigly Issue

Investors with a lot of money to spend have taken a bullish stance on FedEx (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with FDX, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 10 uncommon options trades for FedEx.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 20%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $288,150, and 7 are calls, for a total amount of $378,842.
<h3>Predicted Price Range</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $220.0 and $270.0 for FedEx, spanning the last three months.
<h3>Insights into Volume &amp; Open Interest</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for FedEx's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of FedEx's whale activity within a strike price range from $220.0 to $270.0 in the last 30 days. 
<h3>FedEx 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727189160_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>FDX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$57.65</td>
<td>$56.85</td>
<td>$56.85</td>
<td>$230.00</td>
<td>$182.0K</td>
<td>35</td>
<td style="text-align: right;">2</td>
</tr>
<tr>
<td>FDX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>12/20/24</td>
<td>$14.05</td>
<td>$12.05</td>
<td>$13.2</td>
<td>$260.00</td>
<td>$132.0K</td>
<td>1.1K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>FDX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$15.5</td>
<td>$14.5</td>
<td>$15.3</td>
<td>$250.00</td>
<td>$122.4K</td>
<td>442</td>
<td style="text-align: right;">200</td>
</tr>
<tr>
<td>FDX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/27/24</td>
<td>$4.65</td>
<td>$3.95</td>
<td>$4.6</td>
<td>$257.50</td>
<td>$45.9K</td>
<td>151</td>
<td style="text-align: right;">121</td>
</tr>
<tr>
<td>FDX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$20.0</td>
<td>$19.7</td>
<td>$19.7</td>
<td>$260.00</td>
<td>$35.4K</td>
<td>1.3K</td>
<td style="text-align: right;">83</td>
</tr>
</tbody>
</table>

<h3>About FedEx</h3>
FedEx pioneered overnight delivery in 1973 and remains the world's largest express package provider. In its fiscal 2024, which ended in May, FedEx derived 47% of revenue from its express division, 37% from ground, and 10% from freight, its asset-based less-than-truckload shipping segment. The remainder came from other services, including FedEx Office, which provides document production/shipping, and FedEx Logistics, which provides global forwarding. FedEx acquired Dutch parcel delivery firm TNT Express in 2016, boosting its presence across Europe. TNT was previously the fourth-largest global parcel delivery provider.
In light of the recent options history for FedEx, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Where Is FedEx Standing Right Now?</h3>
<ul>
<li>Currently trading with a volume of 1,241,155, the FDX's price is up by 2.31%, now at $264.77. </li>
<li>RSI readings suggest the stock is currently may be approaching oversold.</li>
<li>Anticipated earnings release is in 86 days.</li>
</ul>
<h3>Professional Analyst Ratings for FedEx</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $317.8.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from UBS persists with their Buy rating on FedEx, maintaining a target price of $311. 
&#x2A; Reflecting concerns, an analyst from Stephens &amp; Co. lowers its rating to Overweight with a new price target of $350. 
&#x2A; Maintaining their stance, an analyst from TD Cowen continues to hold a Buy rating for FedEx, targeting a price of $328. 
&#x2A; An analyst from HSBC has revised its rating downward to Hold, adjusting the price target to $300. 
&#x2A; Maintaining their stance, an analyst from BMO Capital continues to hold a Market Perform rating for FedEx, targeting a price of $300. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for FedEx with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Behind the Scenes of FedEx's Latest Options Trends

FedEx has helped kick off the Q3 earnings season, with its report reflecting one of the earlier that we still count in the overall Q3 tally. We still have a few weeks until the big banks unveil their quarterly results, really ushering in the period in a big way.
The reaction to the FedEx (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fdx#NYSE">FDX</a>) report was notably negative, with the results spooking investors. Let&#39;s take a closer look at the release and compare the company&#39;s current standing to a prominent peer, United Parcel Service (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ups#NYSE">UPS</a>).
<h2>FedEx Quarterly Results Disappoint</h2>
Concerning headline figures, FedEx fell short of the Zacks Consensus EPS estimate by 25%, with sales of $21.6 billion also 2% lower than expected. EPS fell 20% year-over-year, whereas sales were down a marginal 0.4% from the same period last year.
Below is a chart illustrating the company&#39;s sales on a quarterly basis.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/7a/78887.jpg?v=1651610775" />
Image Source: Zacks Investment Research
&quot;Despite a challenging quarter, we remain focused on transforming our network, improving our efficiency, lowering our cost-to-serve, and enhancing our ability to adapt with speed to evolving market dynamics&quot; said Raj Subramaniam, CEO.
He continued, &quot;Overall, I remain confident in the value-creation opportunities ahead as we focus on reducing our structural cost, growing revenue profitably, and leveraging the insights from our vast collection of data as we continue to build the world&#39;s most flexible, efficient and intelligent network.&quot;
In addition, the company narrowed its FY25 earnings and sales outlook following the release, explaining the post-earnings share plunge. Sales expectations have been trending lower overall over the last year, with the $89.9 billion expected down 4% over the last year and suggesting 2.6% growth year-over-year.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/7e/78888.jpg?v=1532836789" />
Image Source: Zacks Investment Research
Earnings expectations have also been accordingly revised lower, with FDX forecasted to post 15% EPS growth relative to last year. The negative revisions trends certainly aren&#39;t constructive for the stock&#39;s performance, and investors would likely be better off waiting until the company sees positive earnings estimate revisions.
In addition, it&#39;s critical to note that the stock has regularly seen immense volatility following quarterly releases over the last two years, with the recent plunge no different. The arrows circled represent earnings releases.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/5b/78889.jpg?v=1394280243" />
Image Source: Zacks Investment Research
And while we have seen signs of moderation at the consumer level, the economy has overall proven to be resilient, with FDX&#39;s releases not a truly accurate gauge of what&#39;s to come for the economy. As mentioned above, sales expectations have been trending lower overall over the past year, not just a one-off recent development.
<h2>What About UPS?</h2>
United Parcel Service, the clear rival of FedEx, has also seen its earnings outlook take a negative turn over recent months. The stock has landed into a Zacks Rank #4 (Sell), which suggests further near-term share pressure.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/6d/78890.jpg?v=1825488900" />
Image Source: Zacks Investment Research
The company&#39;s next set of quarterly results are expected to hit the tape in mid-October, with sales expectations primarily staying stagnant. EPS revisions have been much more negative, with the $1.63 per share expected for the upcoming release down 20% over the last several months.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/ac/78891.jpg?v=844145721" />
Image Source: Zacks Investment Research
The cloudy outlook paints a bearish picture for share performance, similar to FDX.
<h2>Bottom Line</h2>
With FedEx recently seeing its shares plunge following quarterly results, many have asked questions concerning the economy. And while we have seen signs of moderation at the consumer level, the economy has overall proven to be resilient, with FDX&#39;s releases not a truly accurate gauge of what&#39;s to come.
A peer, United Parcel Service, is also facing negative earnings estimate revisions, pushing it down into an unfavorable Zacks Rank #4 (Sell). Investors look to be better off waiting for a more constructive earnings outlook for both stocks, which would support bullish near-term share performance.
<a href="https://www.zacks.com/stock/news/2340220/what-s-going-on-with-fedex-shares?cid=CS-BENZ-FT-stocks_in_the_news-2340220">To read this article on Zacks.com click here.</a>

What's Going On With FedEx Shares?

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page.</a>
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/60784b4c4853ea0001b62900/gil-luria">DA Davidson analyst Gil Luria</a> downgraded the rating for Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) from Buy to Neutral and announced a price target of $475. Microsoft shares fell 0.8% to close at $435.27 on Friday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Bernstein analyst Daniel Roeska downgraded General Motors Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) from Outperform to Market Perform and announced a price target of $53. GM shares gained 0.5% to close at $48.88 on Friday. <a href="https://www.benzinga.com/quote/GM/analyst-ratings">See how other analysts view this stock.</a></li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/61387715a3c6b90001ec2bda/clarke-jeffries">Piper Sandler analyst Clarke Jeffries</a> downgraded the rating for GoDaddy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDDY#NYSE">GDDY</a>) from Overweight to Neutral, but raised the price target from $160 to $172. GoDaddy shares gained 0.3% to close at $160.55 on Friday.<a href="https://www.benzinga.com/quote/GDDY/analyst-ratings"> See how other analysts view this stock.</a></li>
<li>TD Cowen analyst Oliver Chen downgraded Ulta Beauty, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>) from Buy to Hold and announced a price target of $395. Ulta Beauty shares fell 0.3% to close at $402.01 on Friday. <a href="https://www.benzinga.com/quote/ULTA/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Raymond James analyst Patrick O&#8217;Shaughnessy downgraded the rating for S&amp;P Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPGI#NYSE">SPGI</a>) from Outperform to Market Perform. S&amp;P Global shares fell 0.1% to close at $523.67 on Friday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying MSFT stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="512" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23084346/image-178-1024x512.png" alt="" class="wp-image-561005" style="width:580px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23084346/image-178-1024x512.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23084346/image-178-300x150.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23084346/image-178-768x384.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23084346/image-178.png 1345w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/09/40962695/jim-cramer-viking-has-many-ships-coming-in">Jim Cramer: Viking Has &#8216;Many Ships Coming In&#8217;</a></li>
</ul>

Downgrades

Pre-Market Outlook

GDDY

SPGI

ULTA

This Microsoft Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Monday

U.S. stock futures were higher this morning, with the Nasdaq futures gaining around 50 points on Monday.
Shares of Jin Medical International Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZJYL#NASDAQ">ZJYL</a>) fell sharply in today's pre-market trading after jumping around 55% on Friday.
Jin Medical International shares dipped 23.5% to $3.12 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>Jin Medical International Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZJYL#NASDAQ">ZJYL</a>) shares dipped 21.5% to $3.20 in pre-market trading after jumping around 55% on Friday.</li>
<li>Primega Group Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGHL#NASDAQ">PGHL</a>) shares declined 10.3% to $15.00 in pre-market trading after gaining more than 5% on Friday.</li>
<li>James Hardie Industries plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JHX#NYSE">JHX</a>) shares slipped 6% to $39.49 in pre-market trading after gaining more than 8% on Friday.</li>
<li>Korea Electric Power Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEP#NYSE">KEP</a>) shares declined 5.4% to $7.77 in pre-market trading.</li>
<li>Genmab A/S (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GMAB#NASDAQ">GMAB</a>) shares fell 4.3% to $24.44 in pre-market trading after declining around 4% on Friday.</li>
<li>Rezolve AI Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RZLV#NASDAQ">RZLV</a>) shares declined 4.1% to $6.10 in pre-market trading following a 9% decline on Friday.</li>
<li>NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) shares fell 2.8% to $5.13 in pre-market trading after declining over 2% on Monday.</li>
</ul>
Now Read This:
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<li><a href="https://www.benzinga.com/markets/24/09/40962695/jim-cramer-viking-has-many-ships-coming-in"> Jim Cramer: Viking Has &#8216;Many Ships Coming In&#8217;</a></li>
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Movers

GMAB

PGHL

RZLV

ZJYL

Jin Medical International, Nio And Other Big Stocks Moving Lower In Monday's Pre-Market Session

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page.</a>
<ul>
<li>Small Cap Consumer Research raised the price target for JAKKS Pacific, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JAKK#NASDAQ">JAKK</a>) from $24 to $30. Small Cap Consumer Research analyst Eric Beder maintained a Buy rating. JAKKS Pacific shares fell 1% to close at $25.88 on Friday. <a href="https://www.benzinga.com/quote/JAKK/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>TD Cowen increased the price target for CAVA Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAVA#NYSE">CAVA</a>) from $115 to $130. TD Cowen analyst Andrew Charles maintained a Buy rating. CAVA shares gained 2.9% to close at $128.79 on Friday. <a href="https://www.benzinga.com/quote/cava/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Keybanc boosted CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) price target from $300 to $345. Keybanc analyst Jackson Ader maintained an Overweight rating. CrowdStrike shares gained 8.1% to close at $299.85 on Friday. <a href="https://www.benzinga.com/quote/crwd/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Deutsche Bank raised The Bank of New York Mellon Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) price target from $66 to $80. Deutsche Bank analyst Brian Bedell upgraded the stock from Hold to Buy. Bank of New York Mellon shares gained 0.1% to close at $71.82 on Friday. <a href="https://www.benzinga.com/quote/bk/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Benchmark raised Sinclair, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBGI#NASDAQ">SBGI</a>) price target from $29 to $30. Benchmark analyst Daniel Kurnos maintained a Buy rating. Sinclair shares gained 4.3% to close at $14.67 on Friday. <a href="https://www.benzinga.com/quote/sbgi/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Piper Sandler boosted the price target for Wix.com Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WIX#NASDAQ">WIX</a>) from $184 to $200. Piper Sandler analyst Clarke Jeffries upgraded the stock from Neutral to Overweight. Wix.com fell 0.3% to close at $160.64 on Friday. <a href="https://www.benzinga.com/quote/wix/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Baird slashed Apellis Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLS#NASDAQ">APLS</a>) price target from $96 to $92. Baird analyst Colleen Kusy maintained an Outperform rating. Apellis Pharmaceuticals shares fell 11.5% to close at $32.51 on Friday. S<a href="https://www.benzinga.com/quote/apls/analyst-ratings">ee how other analysts view this stock.</a></li>
<li>Deutsche Bank boosted the price target for PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) from $74 to $94. Deutsche Bank analyst Bryan Keane maintained a Buy rating. PayPal shares fell 1% to close at $76.76 on Friday. S<a href="https://www.benzinga.com/quote/pypl/analyst-ratings">ee how other analysts view this stock.</a></li>
<li>Baird increased Fiserv, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>) price target from $186 to $200. Baird analyst David Koning maintained an Outperform rating. Fiserv shares fell 0.7% to close at $177.61 on Friday.<a href="https://www.benzinga.com/quote/FI/analyst-ratings"> See how other analysts view this stock.</a></li>
<li>Loop Capital slashed FedEx Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) price target from $317 to $288. Loop Capital analyst Rick Paterson maintained a Hold rating. FedEx shares dipped 15.2% to close at $254.64 on Friday. <a href="https://www.benzinga.com/quote/FDX/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Considering buying CRWD stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="513" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23081011/image-177-1024x513.png" alt="" class="wp-image-560927" style="width:635px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23081011/image-177-1024x513.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23081011/image-177-300x150.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23081011/image-177-768x385.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23081011/image-177.png 1347w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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CrowdStrike To Rally Over 15%? Here Are 10 Top Analyst Forecasts For Monday

Loop Capital analyst Rick Paterson maintains FedEx (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) with a Hold and lowers the price target from $317 to $288.

Loop Capital Maintains Hold on FedEx, Lowers Price Target to $288

U.S. index futures are modestly higher at the start of a new week as the rate cut euphoria fades and traders look ahead to the next key catalysts. The tech space could get a lift from <a href="https://www.benzinga.com/news/24/09/40975507/intels-stock-gains-in-pre-market-trading-following-reports-of-qualcomms-and-apollos-investment-offer">a potential lifeline for struggling Intel Corp.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) and traders may also look ahead to Micron Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) earnings report due later this week. FedEx Corp.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) annual shareholder meeting and conference presentations by companies could also be on traders&#8217; radar.
A few Fed speeches and private sector activity data due on Monday will also be of interest to the market, which has had an atypically strong September. China followed up with more cuts on Monday as the country strives to bring the struggling economy back on track.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.24%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.15%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.06%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.32%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Monday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.15% to $569.09 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) climbed 0.27% to $483.06, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Week:
U.S. stocks recorded gains for the second straight week as the Fed&#8217;s 50 basis-point cut set the market on fire, although a session after the announcement. After a mixed start to the week, positive retail sales generated buying interest in the market on Tuesday. Sentiment soured on Wednesday despite the initial positive reaction to the rate cut and the major indices closed lower. 
Traders reacted with a lag to the rate cut, sending averages sharply higher on Thursday. The S&amp;P 500 Index and the Dow Jones Industrial Average scaled record highs in the session. Caution returned on Friday as the market closed the triple-witching session on a mixed note. The Dow built on its gains on Friday and ended at a new high.
&#8220;This might be a September rally to remember on Wall Street, as history is not on the side of September delivering many market rallies,&#8221; said fund manager Louis Navellier.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Weekly Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+1.50%</td>
<td>17,948.32</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+1.36%</td>
<td>5,702.55</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+1.62%</td>
<td>42,063.36</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+2.08%</td>
<td>2,227.89</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
The atypical September rally points to more gains ahead before the year ends, says Carson Group&#8217;s Chief Market Strategist Ryan Detrick. A new high for the S&amp;P 500 Index in September has meant an even better fourth quarter in the past, he said. The market has risen 19 out of 21 times and the average gain is nearly 5%, he said. If the new high was made in September, which also happens to be an election year, the fourth quarter is higher 100% of the time with an average gain of 6%.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">When the S&amp;P 500 makes a new high in September (like &#39;24) it appears Q4 does even better. In fact, higher 19 out of 21 times (90.4%) and up nearly 5% on avg. New highs in Sept of election year? Q4 higher 6 out of 6 and up nearly 6% on avg.
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1837903370494820836?ref_src=twsrc%5Etfw">September 22, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The S&amp;P 500 Index, which closed Friday&#8217;s session, just shy of an all-time high, is now above year-end price predictions of 70% of Wall Street analysts. This has rendered S&amp;P valuation slightly higher than the average number for the past five and past 10 years, FactSet data showed.
JPMorgan Global Investment Strategist&nbsp;Sarah Stillpass&nbsp;said in a report the September rate cut could bode well for equities. Since 1980, five of the 10 best years for the S&amp;P 500 happened when the Fed was cutting rates without a recession, she said. She also noted that the Fed has cut rates 12 times when the S&amp;P 500 was within 1% of its all-time high such as the current year. The market was higher one year later all 12 times, with a median return of 15%, she added.
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Upcoming Economic Data:
A slew of Fed speeches and the core personal consumption expenditure index, which is part of the personal income and spending report, are the key data the market will likely look forward to in the unfolding week. Traders may also keep a close eye on the weekly jobless claims data, flash private sector activity readings from S&amp;P Global, a consumer confidence reading, the August durables goods orders data and a couple of housing market readings.
On Monday, Atlanta Fed President Raphael Bostic is scheduled to speak at 8 a.m. EDT, followed by Chicago Fed President Austan Goolsbee at 10:15 a.m. EDT and Minneapolis Fed President Neel Kashkari&nbsp;at 1 p.m. EDT.
S&amp;P Global will release its flash manufacturing and service sector purchasing managers&#8217; indices for September at 9:45 a.m. EDT. Economists, on average, expect the manufacturing purchasing managers&#8217; index to rise from 47.9 in August to 48.4 in September, suggesting the sector continued to contract. The service sector PMI is widely expected to hold steady at 55.4 compared to August&#8217;s 55.7.
The Treasury will auction three- and six-month notes at 11:30 a.m. EDT.
Stocks In Focus:
<ul>
<li>Intel rose about 3% <a href="https://www.benzinga.com/premarket">in premarket trading</a> amid reports that Apollo Global Management seeks to invest $5 billion in the chipmaker in return for an equity stake in the company. Incidentally, Qualcomm, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) is rumored to be interested in buying Intel.</li>
<li>Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rally is sending crypto-linked stocks higher on Monday.</li>
<li>Palantir Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) fell over 1.60% following a negative analyst action. The company will be added to the S&amp;P 500 Index, along with Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) and Erie Indemnity Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ERIE#NASDAQ">ERIE</a>).</li>
<li>AAR Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIR#NYSE">AIR</a>) is due to <a href="https://www.benzinga.com/calendars/earnings">announce its quarterly results after the market closes.</a></li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil and gold futures are modestly higher, with the latter trading near record territory. Bitcoin has gone past the $63.5K level. The 10-year Treasury note yield rose 1.1 points to 3.739%.
The Asian markets closed on a lackluster note, although the Japanese market remained closed for a public holiday. The People&#8217;s Bank of China announced a cut to its 14-day reverse repurchase rate, following up with the downward adjustments that began in July. Chinese central bank governor Pan Gongsheng will hold a press conference Tuesday on financial support for economic development, alongside two other officials, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-09-23/china-announces-another-rate-cut-as-growth-slowdown-worsens">reported.</a>
European stocks also showed tentativeness as domestic traders digested weak private sector activity data from the region.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/09/40974885/s-p-500-outpaces-wall-street-projections-as-year-end-nears-will-the-rally-hold">S&amp;P 500 Outpaces Wall Street Projections As Year-End Nears: Will The Rally Hold?</a></li>
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Photo via Shutterstock

Equities

Futures

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Wall Street Eyes Modestly Positive Start As Atypical September Rally Generates Positive Sentiment, China Cuts Rate: Intel, Palantir, Bitcoin Make Huge Moves

The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index remained in the &#8220;Greed&#8221; zone on Friday.
U.S. stocks settled higher on Friday, with the Dow Jones index settling at a record high during the session. The US Federal Reserve, on Wednesday, slashed interest rates by 50 basis points Wednesday at its September Federal Open Market Committee meeting, lowering the federal funds rate to a range of 4.75% to 5%.
All three major indices recorded weekly gains, with the S&amp;P 500 gaining around 1.4% and adding more than 19% in 2024. The Dow gained around 1.6% last week, while the tech-heavy Nasdaq jumped around 1.5% during the week.
FedEx Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) shares dipped over 15% on Monday after the company reported worse-than-expected first-quarter financial results and cut FY25 guidance.
Most sectors on the S&amp;P 500 closed on a negative note, with industrials, materials and information technology stocks recording the biggest losses on Friday. However, utilities and communication services stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed higher by around 38 points to 42,063.36 on Friday. The S&amp;P 500 fell 0.19% to 5,702.55, while the Nasdaq Composite dipped 0.36% to 17,948.32 during Friday's session.
Investors are awaiting earnings results from AAR Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIR#NYSE">AIR</a>) and Red Cat Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCAT#NASDAQ">RCAT</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 62.9, the index remained in the &#8220;Greed&#8221; zone on Friday, versus a prior reading of 65.1.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
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RCAT

Dow Settles At New Record High: Investor Sentiment Declines But Fear Index Remains In 'Greed' Zone

These ten large-cap stocks were the worst performers in the last week. Are they in your portfolio?
<ol>
<li>Summit Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMMT#NASDAQ">SMMT</a>) stock declined 23.61%. The company announced that data for the novel, potential first-in-class investigational bispecific antibody, ivonescimab, was presented <a href="https://www.benzinga.com//node/40873837" target="_blank" rel="noreferrer noopener">at the 2024 ESMO Annual Meeting</a>.</li>
<li>Joint Stock Company Kaspi.kz (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KSPI#NASDAQ">KSPI</a>) stock tumbled 21.66% after Culper Research <a href="https://www.benzinga.com//node/40943334" target="_blank" rel="noreferrer noopener">issued a short report on the company</a>.</li>
<li>BioMarin Pharmaceutical Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMRN#NASDAQ">BMRN</a>) stock lost 16.74% last week <a href="https://www.benzinga.com//node/40885653" target="_blank" rel="noreferrer noopener">following strong dwarfism drug data</a> from rival Ascendis Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASND#NASDAQ">ASND</a>).</li>
<li>Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) lost 13.26% <a href="https://www.benzinga.com//node/40961732" target="_blank" rel="noreferrer noopener">last week</a>.</li>
<li>FedEx Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) stock fell 11.08% after the company reported worse-than-expected Q1 financial results and <a href="https://www.benzinga.com//node/40948046" target="_blank" rel="noreferrer noopener">cut FY25 guidance</a>.</li>
<li>BioNTech SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>) stock decreased 9.01%. Pfizer, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) and BioNTech received positive CHMP opinion for omicron KP.2-adapted <a href="https://www.benzinga.com//node/40956192" target="_blank" rel="noreferrer noopener">COVID-19 vaccine in the European Union</a>.</li>
<li>Arthur J. Gallagher &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AJG#NYSE">AJG</a>) stock fell 7.17%. Several analysts raised <a href="https://www.benzinga.com/quote/ajg/analyst-ratings" target="_blank" rel="noreferrer noopener">the price target on the stock</a>.</li>
<li>Chewy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) shares declined 6.97% after the company announced a selling stockholder&#8217;s public offering of shares <a href="https://www.benzinga.com//node/40949015" target="_blank" rel="noreferrer noopener">and a concurrent share repurchase</a>.</li>
<li>Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) stock fell 6.93% after <a href="https://www.benzinga.com//node/40961934" target="_blank" rel="noreferrer noopener">headline results from the mid-stage study</a> of monlunabant in obese patients.</li>
<li>Murphy USA Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUSA#NYSE">MUSA</a>) shares fell 6.90% after JP Morgan downgraded the stock from Neutral to Underweight but raised its <a href="https://www.benzinga.com/quote/musa/analyst-ratings" target="_blank" rel="noreferrer noopener">price target from $415 to $435</a>.</li>
</ol>
Also Read:
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<li><a href="https://www.benzinga.com/news/large-cap/24/09/40972008/constellation-energy-li-auto-and-carvana-are-among-top-11-large-cap-gainers-last-week-sept-16-sept" target="_blank" rel="noreferrer noopener">Constellation Energy, Li Auto And Carvana Are Among Top 11 Large Cap Gainers Last Week (Sept 16-Sept 20): Are The Others In Your Portfolio?</a></li>
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ASND

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MUSA

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SMMT

Novo Nordisk, Chewy And FedEx Are Among Top 10 Large Cap Losers Last Week (Sept 15-Sept 21): Are The Others In Your Portfolio?

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.
The three major averages posted weekly gains, with the S&amp;P 500 rising 1.36% and up over 19% for 2024, while the Dow gained 1.62% and the Nasdaq advanced 1.49%. 
The Federal Reserve cut interest rates by 50 basis points in September, surprising many economists who expected a smaller 25-basis-point reduction. 
Fed Chair Jerome Powell emphasized the need to act early to support the labor market, noting that strong employment requires proactive measures. While hinting at potential future cuts, Powell framed this move as a recalibration rather than a broader policy shift, <a href="https://www.benzinga.com/markets/equities/24/09/40965372/fed-delivers-large-interest-rate-cut-in-bid-to-sustain-labor-market-stocks-gold-set-new-record-h">stressing data-driven decision-making.</a>
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40892076/palantir-key-enabler-of-clients-businesses-says-bullish-analyst-as-ceo-alex-karp-to">&#8220;Palantir &#8216;Key Enabler&#8217; Of Clients&#8217; Businesses, Says Bullish Analyst, As CEO Alex Karp Touts 10-Fold Growth From Current Levels,&#8221;</a> by <a href="https://www.benzinga.com/author/shanthi-rexaline">Shanthi Rexaline</a>, highlights Palantir Technologies Inc&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) potential tenfold growth as CEO Alex Karp emphasizes the company&#8217;s role in accelerating client success, with BofA Securities maintaining a bullish outlook and a $50 price target.
<a href="https://www.benzinga.com/markets/equities/24/09/40906505/walmart-division-sams-club-raises-wages-for-hourly-associates-a-strategic-move-to-stay-ahead-in-">&#8220;Walmart Division Sam&#8217;s Club Raises Wages For Hourly Associates: A Strategic Move To Stay Ahead In Retail,&#8221;</a> by <a href="https://www.benzinga.com/author/anusuya-lahiri-0">Anusuya Lahiri</a>, details Walmart Inc.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) Sam&#8217;s Club wage increase for nearly 100,000 frontline workers, with hourly pay rising 3%-6% as part of a strategy to enhance worker retention and performance.
"<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40921872/dogecoin-will-outperform-bitcoin-in-2025-vows-trader-heres-what-the-follower-effect-means">Dogecoin Will Outperform Bitcoin In 2025, Vows Trader: Here&#8217;s What The &#8216;Follower Effect&#8217; Means,&#8221;</a> by <a href="https://www.benzinga.com/author/khyathi-dalal">Khyathi Dalal</a>, shares a crypto trader&#8217;s belief that Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) will outperform Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) in 2025, benefiting from its rapid growth and leveraging Bitcoin's trajectory via the &#8220;follower effect.&#8221;
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40898388/qualcomm-analyst-sees-opportunity-in-regaining-share-with-samsung-after-apple-reven">Qualcomm Analyst Sees Opportunity In &#8216;Regaining Share With Samsung&#8217; After Apple Revenue Squeeze</a>
<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40930553/microstrategy-2x-leveraged-inverse-etfs-are-here-offer-unparalleled-access-to-microstrateg">MicroStrategy 2X Leveraged, Inverse ETFs Are Here, Offer &#8216;Unparalleled Access To MicroStrategy&#8217;s Bitcoin Exposure&#8217;</a>
<a href="https://www.benzinga.com/m-a/24/09/40926078/nvidia-considers-165m-octoai-acquisition-aims-to-strengthen-ai-and-cloud-dominance">Nvidia Considers $165M OctoAI Acquisition, Aims to Strengthen AI and Cloud Dominance</a>
The Bears
<a href="https://www.benzinga.com/tech/24/09/40930388/apple-iphone-16-pre-orders-show-possible-low-demand-one-sign-could-point-to-company-breaking-this-em">&#8220;Apple iPhone 16 Pre-Orders Show Possible Low Demand, One Sign Could Point To Company Break With This Employee Rule,&#8221;</a> by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, highlights concerns over weaker-than-expected demand for Apple Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) iPhone 16, with an analyst citing early pre-order data of 37 million units and employee discounts available unusually early as potential warning signs.
"<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">Home Depot Agrees To Settlement, While Overbought Signals Warn Of Potential Sell-Off</a>," by <a href="https://www.benzinga.com/author/mark-putrino">Mark Putrino</a>, reports on Home Depot Inc&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) nearly $2 million settlement for overcharging allegations. At the same time, technical indicators suggest the stock may face a sell-off due to overbought conditions.
"<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40955933/brace-for-stagflation-after-feds-benevolence-warns-analyst-raising-5-corporate-red-">Brace For Stagflation After Fed&#8217;s Benevolence, Warns Analyst, Raising 5 Corporate Red Flags: &#8216;Inflation Is Transitory Mistake All Over Again&#8217;</a>," by <a href="https://www.benzinga.com/author/shanthi-rexaline">Shanthi Rexaline</a>, discusses Gordon Johnson&#8216;s warning that the Federal Reserve&#8216;s recent rate cuts could lead to stagflation, citing downturns at Skechers U.S.A., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKX#NYSE">SKX</a>) and FedEx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) as red flags.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/general/social-media/24/09/40943414/donald-trump-can-cash-out-his-trump-media-technology-stock-keep-company-control-heres-how-ma">Donald Trump Can Cash Out His Trump Media &amp; Technology Stock, Keep Company Control: Here&#8217;s How Many Shares He Owns</a>
<a href="https://www.benzinga.com/personal-finance/financial-advisors/24/09/40943386/mass-slaughter-wealth-manager-warns-of-market-correction-digital-disruption-a">&#8216;Mass Slaughter&#8217;: Wealth Manager Warns Of Market Correction, Digital Disruption As ETF, Passive Investing Goes Up And To The Right</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40959748/exclusive-options-expert-warns-of-terrible-week-after-fridays-triple-witching">EXCLUSIVE: Options Expert Warns Of &#8216;Terrible Week&#8217; After Friday&#8217;s Triple Witching</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Long Ideas

Short Ideas

Tech

$DOGE

Benzinga Bulls And Bears: Apple, Palantir, Walmart, Home Depot — And An Analyst Predicts Dogecoin Will Outperform Bitcoin In 2025

U.S. stocks traded mostly lower toward the end of trading, with the Nasdaq Composite falling around 0.5% on Friday.
The Dow traded up 0.01% to 42,029.86 while the NASDAQ fell 0.53% to 17,917.95. The S&amp;P 500 also fell, dropping, 0.32% to 5,695.11.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/09/40956889/jim-cramer-viking-therapeutics-has-many-ships-coming-in">Jim Cramer: Viking Therapeutics Has &#8216;Many Ships Coming In&#8217;</a>
Leading and Lagging Sectors Utilities shares jumped by 2.3% on Friday.
In trading on Friday, industrials shares fell by 0.6%.
Top Headline
The total number of active U.S. oil rigs came in unchanged at 488 rigs this week, Baker Hughes Inc reported.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Banzai International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNZI#NASDAQ">BNZI</a>) shares shot up 87% to $5.36. Banzai International recently announced a 1-for-50 reverse stock split.</li>
<li>Shares of Battalion Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BATL#NYSE">BATL</a>) got a boost, surging 122% to $6.54 after the company announced it has amended its merger agreement with Fury Resources for the acquisition of all outstanding shares of Battalion at $7.00 per share in cash.</li>
<li>Constellation Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>) shares were also up, gaining 19% to $248.26 after the company announced it signed a 20-year power purchase agreement with Microsoft that will help launch the Crance Clean Energy Center and restart Three Mile Island Unit 1.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRBP#NASDAQ">CRBP</a>) shares dropped 60% to $20.52. RBC Capital analyst Brian Abrahams reiterated Corbus Pharmaceuticals with an Outperform rating and maintained the price target of $82.</li>
<li>Shares of Sable Offshore Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOC#NYSE">SOC</a>) were down 19% to $23.06 after the company announced a $150 million private placement of 7.50 million shares.</li>
<li>FedEx Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) was down, falling 13% to $260.55 as the company reported weaker-than-expected results for the first quarter of fiscal 2025 and lowered its full-year guidance.</li>
</ul>
Commodities In commodity news, oil traded up 0.6% to $72.38 while gold traded up 1.4% at $2,650.00.
Silver traded up 0.5% to $31.62 on Friday, while copper fell 0.1% to $4.3425.
Euro zone
European shares closed lower today. The eurozone's STOXX 600 fell 1.42%, Germany's DAX declined 1.49% and France's CAC 40 fell 1.51%. Spain's IBEX 35 Index slipped 0.21%, while London's FTSE 100 fell 1.19%.
Spain&#8217;s trade deficit narrowed to EUR 3.2 billion in July from EUR 4.9 billion in the year-ago month. The manufacturing climate indicator in France slipped to 98.6 in September from 98.9 in the prior month.
Retail sales in the UK rose 1% month-over-month in August compared to revised 0.7% gain in July. Producer prices in Germany fell by 0.8% year-over-year in August.
Asia Pacific Markets
Asian markets closed higher on Friday, with Japan's Nikkei 225 gaining 1.53%, Hong Kong's Hang Seng Index surging 1.36%, China's Shanghai Composite Index gaining 0.03% and India's BSE Sensex gaining 1.63%.
Foreign exchange reserves held by the Reserve Bank of India climbed to $689.5 billion as of Sept. 13. The annual inflation rate in Hong Kong came in flat at 2.5% in August, while Hong Kong&#8217;s current account surplus increased to HKD 101.03 billion in the second quarter from HKD 50.71 billion in the year-ago period. The Bank of Japan kept its key short-term interest rate unchanged at around 0.25% during its recent meeting.
Economics
The total number of active U.S. oil rigs came in unchanged at 488 rigs this week, Baker Hughes Inc reported.
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/09/40956962/top-3-financials-stocks-that-may-rocket-higher-this-quarter">Top 3 Financials Stocks That May Rocket Higher This Quarter</a></li>
</ul>

Eurozone

Intraday Update

BATL

BNZI

CRBP

Crude Oil Moves Higher; Sable Offshore Shares Slide

Friday was a lackluster session on Wall Street, with major U.S. averages lingering in negative territory at midday trading in New York. This session coincided with the simultaneous expiration of a large volume of options and futures contracts, commonly referred <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40959748/exclusive-options-expert-warns-of-terrible-week-after-fridays-triple-witching">to as &#8220;triple witching.&#8221;</a>
However, rather than a sharp spike in volatility, stocks edged only slightly lower, failing to trigger a rise in the CBOE Volatility Index (VIX).
Investor sentiment remained defensive, with 10 out of 11 sectors of the S&amp;P 500 falling, while utilities were the only sector to post a positive performance.
Dovish remarks from Federal Reserve Governor Christopher Waller indicated that he expects &#8220;very low&#8221; August Personal Consumption Expenditure (PCE) data. 
Waller also hinted at the possibility of a 25 basis point rate cut in the next meeting or two if the data continues to come in as expected, with a stronger size of cut if the labor market weakens and inflation softens more rapidly.
Waller's comments sent gold surging past $2,600 per ounce, marking new all-time highs.
Meanwhile, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) remained stable at $63,000.
<h1 class="wp-block-heading">Friday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>Chg (1-day %)</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,015.17</td>
<td>0.0%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,700.41</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,771.36</td>
<td>-0.3%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,237.55</td>
<td> -0.7%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:30 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092024&amp;t=be2bearmibe3na1">Benzinga Pro </a>data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.5% lower to $567.92.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;edged 0.2% down to $420.43.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.3% to $481.96.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.7% to $222.50.</li>
<li>The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) outperformed, up 2.1%. The Industrials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>) lagged, down 0.7%.</li>
</ul>
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
<ul>
<li>FedEx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) tumbled 13.6% on dismal quarterly earnings. </li>
<li>Lennar Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) also reacted to earnings, falling over 4%. </li>
<li>Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) rose over 6%, following the company&#8217;s appointment of Elliot Hill as the new CEO.</li>
</ul>
Read Now:
<ul>
<li><a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/09/40960886/palantir-dell-to-join-s-p-500-friday-heres-how-tesla-stock-has-performed-since-its-add">Palantir, Dell To Join S&amp;P 500 Friday: Here&#8217;s How Tesla Stock Has Performed Since Its Addition In 2020</a></li>
</ul>
Wall Street illustration created using artificial intelligence via MidJourney.

Macro Economic Events

Sector ETFs

Broad U.S. Equity ETFs

SPDR Dow Jones Industrial Average ETF Trust

Wall Street Falls On Triple Witching Day, Fed's Waller Pushes Gold To Fresh Record Highs, FedEx Plummets: What's Driving Markets Friday?

US Postal Service Will Not Raise Stamp Prices In January

U.S. stocks traded mixed midway through trading, with the Nasdaq Composite falling more than 0.2% on Friday.
The Dow traded up 0.09% to 42,064.34 while the NASDAQ fell 0.25% to 17,969.11. The S&amp;P 500 also fell, dropping, 0.22% to 5,701.29.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/09/40956889/jim-cramer-viking-therapeutics-has-many-ships-coming-in">Jim Cramer: Viking Therapeutics Has &#8216;Many Ships Coming In&#8217;</a>
Leading and Lagging Sectors Utilities shares jumped by 1.6% on Friday.
In trading on Friday, industrials shares fell by 1%.
Top Headline
Lennar Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) reported better-than-expected financial results for the third quarter on Thursday.
The company said it sees fourth-quarter new orders in a range of 19,000 to 19,300 and deliveries between 22,500 and 23,000. The company expects the average sales price to be approximately $425,000.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Banzai International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNZI#NASDAQ">BNZI</a>) shares shot up 131% to $6.62. Banzai International recently announced a 1-for-50 reverse stock split.</li>
<li>Shares of Battalion Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BATL#NYSE">BATL</a>) got a boost, surging 120% to $6.48 after the company announced it has amended its merger agreement with Fury Resources for the acquisition of all outstanding shares of Battalion at $7.00 per share in cash.</li>
<li>Constellation Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>) shares were also up, gaining 13% to $235.54 after the company announced it signed a 20-year power purchase agreement with Microsoft that will help launch the Crance Clean Energy Center and restart Three Mile Island Unit 1.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRBP#NASDAQ">CRBP</a>) shares dropped 59% to $21.12. RBC Capital analyst Brian Abrahams reiterated Corbus Pharmaceuticals with an Outperform rating and maintained the price target of $82.</li>
<li>Shares of Sable Offshore Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOC#NYSE">SOC</a>) were down 19% to $22.79 after the company announced a $150 million private placement of 7.50 million shares.</li>
<li>FedEx Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) was down, falling 15% to $254.45 as the company reported weaker-than-expected results for the first quarter of fiscal 2025 and lowered its full-year guidance.</li>
</ul>
Commodities In commodity news, oil traded up 0.1% to $72.03 while gold traded up 1.3% at $2,649.40.
Silver traded up 0.1% to $31.455 on Friday, while copper fell 0.4% to $4.33.
Euro zone
European shares were lower today. The eurozone's STOXX 600 fell 1.34%, Germany's DAX declined 1.43% and France's CAC 40 fell 1.38%. Spain's IBEX 35 Index slipped 0.03%, while London's FTSE 100 fell 1.09%.
Spain&#8217;s trade deficit narrowed to EUR 3.2 billion in July from EUR 4.9 billion in the year-ago month. The manufacturing climate indicator in France slipped to 98.6 in September from 98.9 in the prior month.
Retail sales in the UK rose 1% month-over-month in August compared to revised 0.7% gain in July. Producer prices in Germany fell by 0.8% year-over-year in August.
Asia Pacific Markets
Asian markets closed higher on Friday, with Japan's Nikkei 225 gaining 1.53%, Hong Kong's Hang Seng Index surging 1.36%, China's Shanghai Composite Index gaining 0.03% and India's BSE Sensex gaining 1.63%.
Foreign exchange reserves held by the Reserve Bank of India climbed to $689.5 billion as of Sept. 13. The annual inflation rate in Hong Kong came in flat at 2.5% in August, while Hong Kong&#8217;s current account surplus increased to HKD 101.03 billion in the second quarter from HKD 50.71 billion in the year-ago period. The Bank of Japan kept its key short-term interest rate unchanged at around 0.25% during its recent meeting.
Economics
The Baker Hughes rig-count report for the latest week will be released at 1:00 p.m. ET. 
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/09/40956962/top-3-financials-stocks-that-may-rocket-higher-this-quarter">Top 3 Financials Stocks That May Rocket Higher This Quarter</a></li>
</ul>

Gold Gains Over 1%; Battalion Oil Shares Spike Higher

BMO Capital analyst Fadi Chamoun maintains FedEx (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) with a Market Perform and lowers the price target from $325 to $300.

BMO Capital Maintains Market Perform on FedEx, Lowers Price Target to $300

TCW Relative Value Mid Cap Fund Q2 2024 Commentary

FedEx: Only If DRIVE Could Revive Demand

FedEx Presents Opportunity After Sell Off

XLI: GEV, BLDR among industrial gainers during Q3, Boeing top laggard

FedEx ($FDX) is in the news recently, with speculators chasing FedEx stock higher. That could prove to be a dangerous venture, however. FedEx has n...

FedEx Stock (FDX): Chasing the Port Strike News May Give You the Blues

Air freight stocks down today amid port strikes

It is very hard for the S&P 500 to escape the gravitational pull of Apple and Microsoft. But it's clear that at least a piece of the decline is simply giving back the end of quarter pump.

A Quick One While He's Away

Global courier FedEx ($FDX) is intractably boring, in my personal view. In an investing ecosystem filled to the brim with artificial intelligence a...

Boring FedEx (FDX) Offers a Compelling Bullish Options Play

The prospects of the transportation market appear robust with the upcoming holiday season, infrastructure developments, rising consumer spending and improving supply chains. Thus, investing in fundamentally sound transportation stocks FedEx (FDX), Westinghouse Air Brake Technologies (WAB), and ArcBest (ARCB) could be wise. Read more... The transportation and freight market is experiencing significant growth owing to the increasing reliance on e-commerce and global trade, advancements in technology, and supportive government initiatives, and the normalizing supply chains.
Given the industry tailwinds, it could be wise to invest in fundamentally sound transportation stocks FedEx Corporation (<a href="https://stocknews.com/stock/FDX/">FDX</a>), Westinghouse Air Brake Technologies Corporation (<a href="https://stocknews.com/stock/WAB/">WAB</a>), and ArcBest Corporation (<a href="https://stocknews.com/stock/ARCB/">ARCB</a>) as supply chain prospers again.
Currently, in the U.S., the transportation market growth is influenced by robust private consumption, supporting the shipping of durable and non-durable consumer goods demand. Also, continuous <a href="https://atradius.in/reports/transportation-and-logistics-industry-trends-july-2024.html#:~:text=USA%3A%20Robust%20private%20consumption%20drives,and%20by%202.0%25%20in%202025.">government initiatives to improve infrastructure</a> will likely promote greater supply chain efficiency and reduce costs benefiting the market.
Further, the market looks promising with the festival and holiday season ahead and anticipation of peak spending. <a href="https://www.statista.com/outlook/io/transportation/united-states#:~:text=Value%20added%20in%20the%20Transportation,7.19tn%20TKM%20in%202024.">Value added in the transportation market</a> is expected to be $690 billion in 2024, and the volume of goods transported is projected to amount to 7.19 trillion TKM.
Further, with favorable factors like urbanization, a growing population, rising demand for online shopping through e-commerce platforms, and improving infrastructure and logistics, the global transportation industry market is expected to grow to $11.10 trillion by 2024, expanding at a <a href="https://www.datamintelligence.com/research-report/transportation-industry-market">CAGR of 5.4%</a>.
Further, the <a href="https://www.mordorintelligence.com/industry-reports/united-states-freight-logistics-market/market-size">United States freight and logistics market</a>, one of the most developed logistics markets globally, is projected to grow from $1.33 trillion in 2024 to $1.67 trillion by 2030. The market is poised to register a CAGR of 3.9%, driven by strategic infrastructure investments and technological advancements.
Given the industry's robust outlook, investing in quality transportation stocks such as FDX, WAB, and ARCB could be wise for future gains.
FedEx Corporation (<a href="https://stocknews.com/stock/FDX/">FDX</a>)
FDX provides transportation, e-commerce, and business services internationally. The company operates through FedEx Express; FedEx Ground; FedEx Freight; and FedEx Services segments. It offers express transportation, small-package ground delivery, freight transportation services, and time-critical transportation services.
On September 18, FDX launched fdx.com, which is available to FedEx customers in the U.S. It is a data-driven commerce platform with powerful FedEx network insights that connect the entire customer journey. The platform will help FDX's customers to grow demand, increase conversion, optimize fulfillment, and streamline returns.
On September 5, FDX announced a strategic alliance and investment with Nimble, an AI robotics and autonomous e-commerce fulfillment technology company, in order to scale FedEx Fulfillment with their fully autonomous 3PL model. The strategic investment in Nimble will expand FDX's e-commerce footprint and scale FedEx Fulfillment offerings across North America.
FDX reported a total revenue of $21.58 billion during the first quarter that ended August 31, 2024, and its adjusted operating income was $1.21 billion. The company's <a href="https://www.investopedia.com/terms/n/netincome.asp">net income</a> and EPS amounted to $892 million and $3.60 for the quarter, respectively.
Furthermore, as of August 31, 2024, the company's cash and cash equivalents and total assets stood at $5.94 billion and $86.71 billion, respectively.
Analysts expect FDX's revenue for the second quarter (ending November 2024) to increase 1.9% year-over-year to $22.60 billion, and its EPS for the same quarter is expected to grow 13.1% year-over-year to $4.51. For the fiscal year (ending May 2025), the company's revenue and EPS are expected to grow 2.4% and 17.6% year-over-year to $89.82 billion and $20.93, respectively.
Shares of FDX have surged 17.1% over the past six months and 20.2% over the past year to close the last trading session at $300.39.
FDX's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its robust outlook. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
FDX has a B grade for Growth and Quality. It is ranked #1 out of 16 <a href="https://stocknews.com/category/air-freight-shipping/">Air Freight &amp; Shipping Services</a> industry stocks.
In addition to the POWR Ratings we've stated above, we also have other ratings of FDX for Sentiment, Momentum, Stability, and Value. Get all FDX ratings <a href="https://stocknews.com/stock/FDX/">here</a>.
Westinghouse Air Brake Technologies Corporation (<a href="https://stocknews.com/stock/WAB/">WAB</a>)
WAB provides technology-based locomotives, equipment, systems, and services for the freight rail and passenger transit industries globally. The company offers diesel-electric, battery, and liquid natural gas-powered locomotives, engines, electric motors, propulsion systems, and marine and mining products.
On July 30, WAB secured a $277 million order for Evolution Series ES43ACmi locomotives (Rio Tinto JV) to support the Simandou Iron Ore Project. The order will provide a locomotive fleet to service the rail operations for the Simandou high-grade iron ore project located east of Guinea.
On July 18, WAB's Board of Directors declared a regular quarterly common dividend of $0.20 per share, paid on August 28, 2024, to holders of record on August 14, 2024.
WAB's annual dividend of $0.80 equates to a yield of 0.46% at the current share price. Its four-year average dividend yield is 0.58%. Also, the company's dividend payouts have increased at a CAGR of 17.1% over the past three years.
During the second quarter that ended June 30, 2024, WAB's net sales rose 9.8% year-over-year to $2.64 billion. Its adjusted gross profit increased 20.4% year-over-year to $880 million. The company's adjusted income from operations of $510 million indicates growth of 29.1% from the prior year's quarter.
Furthermore, the company's adjusted net income and EPS came in at $348 million and $1.96, up 35.9% and 39% year-over-year, respectively.
Street expects WAB's revenue and EPS for the third quarter (ending September 2024) to increase 5.2% and 11% year-over-year to $2.68 billion and $1.89, respectively. Furthermore, the company surpassed the consensus revenue estimates in each of the trailing four quarters, which is impressive.
Over the past six months, WAB's stock has gained 25.4% and 64.9% over the past year to close the last trading session at $178.24.
WFRD's sound fundamentals are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
The stock has a B grade for Growth, Sentiment, and Quality. WAB has topped in the list of 16 stocks within the B-rated <a href="https://stocknews.com/category/railroads/">Railroads</a> industry.
<a href="https://stocknews.com/stock/WAB/">Click here</a> to access additional ratings of WAB for Momentum, Stability and Value.
ArcBest Corporation (<a href="https://stocknews.com/stock/ARCB/">ARCB</a>)
ARCB is an integrated logistics company engaged in ground, air, and ocean transportation solutions. It operates in two segments: Asset-Based; and Asset-Light. The company offers less-than-truckload services that transport general commodities, like food, textiles, apparel, furniture, appliances, chemicals, and non-bulk petroleum products.
On August 6, ARCB joined TriumphPay Network as a full audit and payments network participant. ARCB joined the network as part of TriumphPay's strategy to serve carriers better, improve operational efficiency, and enhance payment security. The customer alliance will potentially result in expansion and growth for the companies in the freight industry.
On July 30, ARCB's Board of Directors declared a quarterly cash dividend of $0.12 per share to holders of record of its common stock on August 13, 2024, paid on August 27, 2024.
ARCB pays an annual dividend of $0.48, which translates to a yield of 0.43% at the current share price. Its four-year average dividend yield is 0.49%. Moreover, the company's dividend payouts have increased at a CAGR of 14.5% over the past three years.
For the second quarter that ended June 30, 2024, ARCB reported revenue of $1.08 billion, while its non-GAP operating income rose 28.1% from the year-ago value to $64.20 million. The company's non-GAAP net income from continuing operations and EPS came in at $47.38 million and $1.98, up 24.8% and 28.6% year-over-year, respectively.
Furthermore, the company's adjusted EBITDA increased 24.3% from the year-ago value to $94.86 million.
Analysts expect ARCB's EPS for the first quarter (ending March 2025) to increase 20.3% year-over-year to $1.61, and its revenue for the same period is expected to grow 4% year-over-year to $1.08 billion. Moreover, the company topped the consensus revenue estimates in each of the trailing four quarters.
ARCB's stock has surged 7.1% over the past month and 16.1% over the past year to close the last trading session at $115.83.
ARCB's POWR Ratings reflect its bright prospects. The stock has an overall rating of B, equating to a Buy in our proprietary rating system.
ARCB has a B grade for Growth, Momentum, and Value. The stock is ranked first among the 17 stocks in the <a href="https://stocknews.com/category/trucking-freight/">Trucking Freight</a> industry.
To access ARCB's other ratings, <a href="https://stocknews.com/stock/ARCB/">click here</a>.
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FDX shares were trading at $255.34 per share on Friday afternoon, down $45.05 (-15.00%). Year-to-date, FDX has gained 2.50%, versus a 20.27% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/fdx-wab-arcb-3-transportation-stocks-to-buy-as-supply-chains-normalize/>3 Transportation Stocks to Buy as Supply Chains Normalize</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Transportation Stocks to Buy as Supply Chains Normalize

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