Latest News for Pacer Trendpilot 100 ETF (NASDAQ:PTNQ)

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3 Apple-Heavy ETFs You Probably Haven&#39;t Heard Of

Keybanc analyst Sophie Karp maintains CMS Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMS#NYSE">CMS</a>) with a Overweight and raises the price target from $66 to $68.

News

Price Target

Analyst Ratings

Keybanc Maintains Overweight on CMS Energy, Raises Price Target to $68

Piper Sandler analyst Clarke Jeffries maintains Lightspeed Commerce (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LSPD#NYSE">LSPD</a>) with a Neutral and lowers the price target from $18 to $17.

LSPD

Piper Sandler Maintains Neutral on Lightspeed Commerce, Lowers Price Target to $17

Keybanc analyst Sangita Jain maintains Constellation Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>) with a Overweight and raises the price target from $190 to $230.

Keybanc Maintains Overweight on Constellation Energy, Raises Price Target to $230

BitFuFu (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FUFU#NASDAQ">FUFU</a>) reported quarterly earnings of $0.23 per share. This is a 1050 percent increase over earnings of $0.02 per share from the same period last year. The company reported $144.41 million in sales this quarter. This is a 149.12 percent increase over sales of $57.97 million the same period last year.

FUFU

BitFuFu Q1 EPS $0.23 Up From $0.02 YoY, Sales $144.41M Up From $57.97M YoY

Keybanc analyst Jason Celino maintains Autodesk (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) with a Overweight and lowers the price target from $320 to $305.

ADSK

Keybanc Maintains Overweight on Autodesk, Lowers Price Target to $305

Piper Sandler analyst Patrick Moley initiates coverage on Marex Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRX#NASDAQ">MRX</a>) with a Overweight rating and announces Price Target of $27.

Initiation

Piper Sandler Initiates Coverage On Marex Group with Overweight Rating, Announces Price Target of $27

Needham analyst Alex Henderson maintains Lumentum Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LITE#NASDAQ">LITE</a>) with a Buy and lowers the price target from $60 to $55.

LITE

Needham Maintains Buy on Lumentum Holdings, Lowers Price Target to $55

Piper Sandler analyst Matt O'Brien upgrades Globus Medical (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GMED#NYSE">GMED</a>) from Neutral to Overweight and raises the price target from $60 to $80.

Upgrades

GMED

Piper Sandler Upgrades Globus Medical to Overweight, Raises Price Target to $80

Chinese EV makers Nio Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) and Xpeng Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) are reportedly taking over 200 days to pay their suppliers, more than twice their larger rival Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).
What Happened: While Nio took around 295 days to clear its receipts as of the end of 2023, XPeng took 221 days, Bloomberg <a href="Vhttps://www.bloomberg.com/news/articles/2024-05-19/china-s-ev-makers-taking-longer-to-pay-bills-amid-rising-stress">reported</a>. The time taken has ballooned significantly from 2021 when Nio took 197 days and XPeng took 179. 
Tesla, in comparison, took around 101 days, the report said, while adding that the time taken has remained mostly stable for the past three years.
Why It Matters: Both <a href="https://www.benzinga.com/markets/asia/24/05/38786554/nio-ceo-william-li-breaks-8-year-brand-loyalty-streak-as-he-takes-delivery-from-rival-chinese-ev-sta">Nio and Xpeng </a>have been struggling to achieve profitability. In 2023, XPeng reported a net loss of 10.38 billion yuan ($1.44 billion), up from 9.14 billion yuan ($1.26 billion) in 2022. 
Nio, meanwhile, reported a net loss of 20.72 billion yuan ($2.86 billion), up from 14.44 billion yuan ($2 billion) in 2022, despite revenues and <a href="https://www.benzinga.com/markets/equities/24/05/38547416/why-nio-shares-are-gaining-today">vehicle deliveries increasing.</a>
This is largely because of the companies&#8217; falling profit margins, which have been under pressure since the companies started lowering prices in a bid to retain market share amid rising competition and slowing economic growth. 
In 2023, Xpeng&#8217;s <a href="https://www.benzinga.com/news/24/05/38596002/whats-going-on-with-xpeng-stock">full-year gross margin</a> was 1.5%, marking a decrease of 10 percentage points year-over-year. Nio meanwhile saw its gross margin dip to 5.5% in 2023 from 10.4% a year earlier.
Price Action: NYSE-listed shares of Nio dropped about 37% year-to-date to close at $5.28 on Friday. Xpeng&#8217;s shares on the exchange, meanwhile, have dropped nearly 41% year-to-date and closed at $8.3 on Friday, according to data<a href="https://pro.benzinga.com/dashboard"> from Benzinga Pro</a>. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:&nbsp;<a href="https://www.benzinga.com/news/24/05/38907041/tesla-bull-gary-black-expects-ceo-elon-musks-56b-pay-package-to-be-reinstated-should-eliminate-any-p" target="_blank" rel="noreferrer noopener">Tesla Bull Gary Black Expects CEO Elon Musk's $56B Pay Package To Be Reinstated; ‘…Should Eliminate Any Possibility Of Elon Leaving'</a>
Photo via Shutterstock

Tech

TSLA

XPEV

Nio, Xpeng Take Twice As Long As Tesla To Pay Suppliers: What's Ailing Chinese EV Makers?

Archer Aviation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACHR#NYSE">ACHR</a>), a leader in electric vertical takeoff and landing (eVTOL) aircraft, today announced it has signed a memorandum of understanding (&quot;MOU&quot;) with Etihad Training that lays the groundwork for a partnership to recruit and train prospective pilots for Archer&#39;s Midnight aircraft in Abu Dhabi to fly aircraft across the UAE. The MOU was announced at the start of the Future Aviation Forum in Riyadh, Saudi Arabia, where Archer is showcasing its Midnight aircraft for the first time in the country.

Government

Regulations

ACHR

Archer Aviation Partners With Etihad Aviation Training For eVTOL Pilot Training Operations Based In Abu Dhabi

Morgan Stanley analyst Joseph Moore upgrades Micron Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) from Underweight to Equal-Weight and raises the price target from $98 to $130.

Morgan Stanley Upgrades Micron Technology to Equal-Weight, Raises Price Target to $130

Morgan Stanley analyst Kristine Liwag initiates coverage on Loar Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOAR#NYSE">LOAR</a>) with a Equal-Weight rating and announces Price Target of $55.

LOAR

Morgan Stanley Initiates Coverage On Loar Holdings with Equal-Weight Rating, Announces Price Target of $55

Goldman Sachs analyst Kash Rangan initiates coverage on Rubrik (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBRK#NYSE">RBRK</a>) with a Buy rating and announces Price Target of $48.

RBRK

Goldman Sachs Initiates Coverage On Rubrik with Buy Rating, Announces Price Target of $48

Goldman Sachs analyst Alexander Blostein initiates coverage on Marex Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRX#NASDAQ">MRX</a>) with a Buy rating and announces Price Target of $33.

Goldman Sachs Initiates Coverage On Marex Group with Buy Rating, Announces Price Target of $33

Goldman Sachs analyst Toshiya Hari downgrades Impinj (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PI#NASDAQ">PI</a>) from Buy to Neutral and maintains the price target from $156 to $156.

Downgrades

Goldman Sachs Downgrades Impinj to Neutral, Maintains Price Target to $156

WIIM

Li Auto shares are trading lower after the company reported worse-than-expected Q1 results and Q2 guidance.

Goldman Sachs analyst Toshiya Hari upgrades Teradyne (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TER#NASDAQ">TER</a>) from Neutral to Buy and raises the price target from $118 to $161.

Goldman Sachs Upgrades Teradyne to Buy, Raises Price Target to $161

Biotech

Large Cap

Health Care

General

AstraZeneca Plans $1.5B Manufacturing Facility For Antibody Drug Conjugates In Singapore, AstraZeneca Expects To Begin Design And Construction By The End Of 2024, With Targeted Operational Readiness From 2029

BMO Capital analyst Keith Bachman initiates coverage on Rubrik (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBRK#NYSE">RBRK</a>) with a Market Perform rating and announces Price Target of $40.

BMO Capital Initiates Coverage On Rubrik with Market Perform Rating, Announces Price Target of $40

Amid the hype surrounding Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) investor and fund manager Gary Black on Sunday delved into whether the electric vehicle<a href="https://www.benzinga.com/news/24/05/38722260/tesla-drivers-rejoice-elon-musk-says-fsd-nag-on-steering-wheel-is-finally-fixed-and-rolling-out-in-n"> maker&#8217;s full self-driving technology</a> is worth all the hype surrounding it.
What Happened: Black is convinced about the technology&#8217;s potential. &#8220;No one disagrees that fully autonomous vehicles are the future of the auto industry,&#8221; the fund manager said in a post on X, formerly Twitter. He, however, doesn&#8217;t think FSD is a zero-sum game.
&#8220;The debate has always been whether there will be 1 automaker ( $tsla) that solves general autonomy, or 10 or 20,&#8221; Black said. He noted that China&#8217;s Baidu, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) already has 500 robotaxis in service, with 50% of its fleet capable of being driven autonomously.
Baidu&#8217;s fleet has provided 6 million rides to paying customers, he noted. 
&#8220;In the history of the auto industry, every successful technological innovation has been quickly copied by everyone else. To say &#8216;this time is different&#8217; seems naive,&#8221; Black said.
The fund manager made these comments in response to a post by a Tesla influencer about U.K. President <a href="https://www.benzinga.com/markets/equities/24/05/38912375/oh-my-word-tesla-fsd-wows-boris-johnson-as-it-drives-his-family-around-hair-raising-la-roads-ex-">Boris Johnson sharing his experience about driving a self-driving Tesla car.</a>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">No one disagrees that fully autonomous vehicles are the future of the auto industry. The debate has always been whether there will be 1 auto maker ( <a href="https://twitter.com/search?q=%24tsla&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$tsla</a>) that solves general autonomy, or 10 or 20. <a href="https://twitter.com/search?q=%24BIDU&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BIDU</a> already has 500 robotaxis in service, 50% which drive fully autonomously,… <a href="https://t.co/YORmGm5mOm">https://t.co/YORmGm5mOm</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1792189245861331001?ref_src=twsrc%5Etfw">May 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/money/everything-you-need-to-know-about-tesla-stock">Everything You Need To Know About Tesla Stock</a>
Why It&#8217;s Important: While Tesla has predicated its future on FSD and robotaxis, Black is among the camps that believe in the potential of an affordable EV. Tesla diffused optimism regarding a sub-$30,000 EV by prioritizing robotaxis over it.
The company has scheduled robotaxi unveiling on Aug. 8 and more details on the fleet service will be made available then.
Tesla bull Cathie Wood&#8217;s Ark Invest, which has a $2,000 price target for Tesla by 2027, sees robotaxis accounting for 44% of revenue, 64% of EBITDA, and 67% of enterprise value by that timeframe. Elaborating on the potential, the firm said, &#8220;With access to 50x more driving data than Baidu and 280x more than Waymo, Tesla has a massive data advantage as it prepares to launch its robotaxi service, the largest AI project in the world.&#8221;
Tesla ended Friday&#8217;s session up 1.60% at $177.46, according to Benzinga Pro data.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38907618/tesla-sweats-over-approval-of-elon-musks-pay-plan-fords-distress-call-to-suppliers-">Tesla Sweats Over Approval Of Elon Musk&#8217;s Pay Plan, Ford&#8217;s Distress Call To Suppliers, Faraday Future&#8217;s Mouthwatering Rally And More: Biggest EV Stories Of The Week</a>
Image generated using AI via Shutterstock

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Latest News for Pacer Trendpilot 100 ETF (NASDAQ:PTNQ)

Wednesday, January 29, 2020