Latest news for Ability (OTC:ABILF) Stock

Ability Inc is a holding company which provides advanced interception, geolocation and cyber intelligence products and solutions that serve the needs and increasing challenges of security and intelligence agencies, military forces, law enforcement agencies and homeland security agencies across the world. The company specializes in offering off-air interception of voice, SMS, and data communication from both cellular and satellite communication networks and deciphering solutions for both cellular and satellite communications. Its portfolio of cellular communications solutions includes interception of voice, SMS, and data, an advanced geolocation system, and cyber solutions. Most of the company's revenue comes from the Asia region.

Ability Inc

BofA Securities analyst Jessica Reif Ehrlich downgraded Warner Music Group Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WMG#NASDAQ">WMG</a>) from Neutral to Underperform and lowered the <a target="_blank" href="https://www.benzinga.com/quote/WMG/analyst-ratings" rel="noreferrer noopener">price target from&nbsp;$33&nbsp;to&nbsp;$30</a>.
The price target is approximately 12 times the calendar year 2025 OIBDA (previously 13 times the 2025 OIBDA). Given the analyst&#8217;s better long-term growth outlook, the multiple represents an approximately 25% premium to its media and entertainment coverage universe.
Also Read: <a target="_blank" href="https://www.benzinga.com/m-a/24/09/40853165/sony-eyes-500m-deal-for-pink-floyds-iconic-music-catalog-report" rel="noreferrer noopener">Sony Eyes $500M Deal for Pink Floyd&#8217;s Iconic Music Catalog: Report</a>
Warner Music Group will continue to benefit from secular tailwinds in the music industry (like pricing and increased penetration), which should drive longer-term growth, as the analyst states.
However, given the relative disappointment in emerging platforms in the industry, volatility in ad-supported streaming, greater variability in subscription streaming than may have been appreciated, and several 1 times items (like BMG Rights Management in fiscal 2024 and Digital service provider repricing in prior years), the longer term growth potential and visibility of the music labels may not be as significant and predictable as initially thought, she said. 
This does not support as substantial of a premium valuation the labels currently trade at versus the analyst&#8217;s Media &amp; Entertainment coverage universe.
Ever since the arrival of Rob Kyncl as CEO, there have been numerous changes to the Warner Music Group organization, most recently by their expanded restructuring efforts, she said. This has led to the departure of several leaders with deep industry experience. 
While the company&#8217;s new strategic direction and focus on technology may be the correct path in the longer term, this magnitude of disruption to an organization also comes with execution risks, as per the analyst.
The analyst cut the fiscal fourth-quarter revenue to $1.57 billion (from $1.59 billion), reflecting lower Digital Streaming revenue, and reduced her fiscal fourth-quarter adjusted OIBDA estimates to $336 million (from $346 million). For fiscal 2025, the analyst lowered revenue to $6.63 billion (from $6.68 billion) and adjusted OIBDA to $1.49 billion (from $1.52 billion).
Price Action: WMG stock is down 2.72% at $31.00 at last check Friday.
Photo via Shutterstock
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/08/40225375/why-is-warner-music-stock-trading-higher-on-wednesday" target="_blank" rel="noreferrer noopener">Warner Music Gains as Q3 Beats on Streaming, Analysts See Upside Potential</a></li>
</ul>

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Warner Music Hit By Streaming Volatility And Execution Risks: Analyst

Shiba Inu's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) sudden spike in prices thanks to <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41190083/us-labor-market-posts-strong-data-what-it-means-for-bitcoin">positive macro data</a> has traders hoping for <a href="https://www.benzinga.com/money/shiba-inu-price-prediction">more upside in Q4</a>.
What Happened: Shiba Inu is up 10% to $0.0000175 on Friday, outperforming its rival DOGE, which is up 5%. The meme coin has gained over 30% over the past 30 days, beating Dogecoin&#8217;s 11% return.
SHIB is also seeing renewed burn transactions, with 4.5 million SHIB burned in the past 24 hours, according to Shibburn data. 
Crypto trader Javon Marks predicts Shiba Inu's next move to be a massive 351% spike to his larger target of $0.000081, noting the token&#8217;s strength.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> (Shiba Inu)&#39;s price is starting to return with strength here while continuing to hold broken out of a recently set falling wedge pattern! Next level can be coming in and it could lead into a massive, &gt;351% move to our larger $0.000081 target&#8230; <a href="https://t.co/IHj6syyorW">https://t.co/IHj6syyorW</a> <a href="https://t.co/ohxvKH5h4G">pic.twitter.com/ohxvKH5h4G</a>
&mdash; JAVON&#x26a1;&#xFE0F;MARKS (@JavonTM1) <a href="https://twitter.com/JavonTM1/status/1842190515913072713?ref_src=twsrc%5Etfw">October 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41163167/dogecoin-killer-shiba-inus-burn-rate-increases-227-then-why-are-technical-indicators-so-we">&#8216;Dogecoin Killer&#8217; Shiba Inu&#8217;s Burn Rate Increases 227%—Then Why Are Technical Indicators So Weak?</a>
IntoTheBlock data shows large transaction volume decreasing by 53.4% and daily active addresses rose by 3.3%. Transactions greater than $100,000 are down from 220  to 129 in a single day. With a rise in prices, Shiba Inu holders in profit increased to 53%, up from 45% the week before.
The official page of Shiba Inu tweeted a curious post which <a href="https://x.com/Shibtoken/status/1841896633342238994">read</a>, "When SHIB hits a new high, I'm going to _______," sparking community engagement.
What&#8217;s Next: The influence of meme coins is expected to be thoroughly explored at Benzinga&#8217;s upcoming <a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a> event on Nov. 19.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41092021/dogecoin-up-19-shiba-inu-surges-32-in-september-whats-next-for-the-meme-coin-leaders">Dogecoin Up 19%, Shiba Inu Surges 32% In September: What&#8217;s Next For The Meme Coin Leaders?</a></li>
</ul>
Image: Shutterstock

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Economic Advisor Brainard Says We Anticipate That Storm Devastation Will Affect Employment Statistics For That Month

Economics

White House Advisor Brainard Says There Is A Lot More Confidence That Interest Rates Are Coming Down And Inflation Is Down

Investors with a lot of money to spend have taken a bullish stance on Kohl's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KSS#NYSE">KSS</a>).
And retail traders should know.
We noticed this today when the positions 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 KSS, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 9 options trades for Kohl's.
This isn't normal.
The overall sentiment of these big-money traders is split between 44% bullish and 44%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $26,000, and 8, calls, for a total amount of $429,495.
<h3>Expected Price Movements</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $12.5 to $25.0 for Kohl's over the recent three months. 
<h3>Volume &amp; Open Interest Development</h3>
In terms of liquidity and interest, the mean open interest for Kohl's options trades today is 2930.0 with a total volume of 13,613.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Kohl's's big money trades within a strike price range of $12.5 to $25.0 over the last 30 days.
<h3>Kohl's Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728066822_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</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>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>KSS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/11/24</td>
<td>$1.02</td>
<td>$1.01</td>
<td>$1.01</td>
<td>$19.00</td>
<td>$152.0K</td>
<td>1.0K</td>
<td>1.9K</td>
</tr>
<tr>
<td>KSS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/11/24</td>
<td>$0.18</td>
<td>$0.14</td>
<td>$0.15</td>
<td>$21.00</td>
<td>$87.4K</td>
<td>12.8K</td>
<td>10.0K</td>
</tr>
<tr>
<td>KSS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$7.55</td>
<td>$7.5</td>
<td>$7.55</td>
<td>$12.50</td>
<td>$37.7K</td>
<td>50</td>
<td>50</td>
</tr>
<tr>
<td>KSS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/11/24</td>
<td>$1.08</td>
<td>$1.06</td>
<td>$1.07</td>
<td>$19.00</td>
<td>$35.3K</td>
<td>1.0K</td>
<td>374</td>
</tr>
<tr>
<td>KSS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>04/17/25</td>
<td>$3.25</td>
<td>$2.7</td>
<td>$3.27</td>
<td>$20.00</td>
<td>$32.7K</td>
<td>220</td>
<td>100</td>
</tr>
</tbody>
</table>

<h3>About Kohl's</h3>
Kohl's operates about 1,176 department stores in 49 states that sell moderately priced private-label and national brand clothing, shoes, accessories, cosmetics, and home furnishings. Most of these stores are in strip centers. Kohl's also operates a large digital sales business. Women's apparel is Kohl's largest category, having generated 26% of its 2023 sales. The retailer, headquartered in Menomonee Falls, Wisconsin, opened its first department store in 1962.
In light of the recent options history for Kohl's, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Current Position of Kohl's</h3>
<ul>
<li>With a trading volume of 2,569,773, the price of KSS is up by 0.41%, reaching $19.53.</li>
<li>Current RSI values indicate that the stock is is currently neutral between overbought and oversold.</li>
<li>Next earnings report is scheduled for 46 days from now.</li>
</ul>
Turn $1000 into $1270 in just 20 days?
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>.
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 Kohl's, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Options

Markets

Check Out What Whales Are Doing With KSS

Investors with a lot of money to spend have taken a bearish stance on Powell Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POWL#NASDAQ">POWL</a>).
And retail traders should know.
We noticed this today when the positions 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 POWL, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for Powell Industries.
This isn't normal.
The overall sentiment of these big-money traders is split between 30% bullish and 40%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $29,668, and 9, calls, for a total amount of $318,927.
<h3>Expected Price Movements</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $210.0 and $340.0 for Powell Industries, spanning the last three months.
<h3>Volume &amp; Open Interest Development</h3>
In terms of liquidity and interest, the mean open interest for Powell Industries options trades today is 44.83 with a total volume of 359.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Powell Industries's big money trades within a strike price range of $210.0 to $340.0 over the last 30 days.
<h3>Powell Industries Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728066817_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</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 style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>POWL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$36.9</td>
<td>$33.8</td>
<td>$33.81</td>
<td>$210.00</td>
<td>$50.7K</td>
<td style="text-align: right;">64</td>
<td style="text-align: right;">17</td>
</tr>
<tr>
<td>POWL</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>12/20/24</td>
<td>$8.1</td>
<td>$6.9</td>
<td>$7.52</td>
<td>$340.00</td>
<td>$45.8K</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">100</td>
</tr>
<tr>
<td>POWL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$22.7</td>
<td>$19.0</td>
<td>$19.45</td>
<td>$230.00</td>
<td>$39.3K</td>
<td style="text-align: right;">114</td>
<td style="text-align: right;">86</td>
</tr>
<tr>
<td>POWL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>10/18/24</td>
<td>$19.3</td>
<td>$18.0</td>
<td>$18.01</td>
<td>$230.00</td>
<td>$36.0K</td>
<td style="text-align: right;">114</td>
<td style="text-align: right;">43</td>
</tr>
<tr>
<td>POWL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$17.3</td>
<td>$15.9</td>
<td>$17.3</td>
<td>$230.00</td>
<td>$34.6K</td>
<td style="text-align: right;">114</td>
<td style="text-align: right;">23</td>
</tr>
</tbody>
</table>

<h3>About Powell Industries</h3>
Powell Industries Inc is a United States-based company that develops, designs, manufactures, and services custom-engineered equipment and systems for electrical energy distribution, control, and monitoring. The company's principal products comprise integrated power control room substations, custom-engineered modules, electrical houses, traditional and arc-resistant distribution switchgear and control gear, and so on. These products are applied in oil and gas refining, offshore oil and gas production, petrochemical, pipeline, terminal, mining and metals, light-rail traction power, electric utility, pulp and paper, and other heavy industrial markets. The company generates the majority of its sales from the United States.
Following our analysis of the options activities associated with Powell Industries, we pivot to a closer look at the company's own performance.
<h3>Current Position of Powell Industries</h3>
<ul>
<li>With a trading volume of 269,811, the price of POWL is up by 4.79%, reaching $243.34.</li>
<li>Current RSI values indicate that the stock is may be overbought.</li>
<li>Next earnings report is scheduled for 60 days from now.</li>
</ul>
Turn $1000 into $1270 in just 20 days?
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>.
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 Powell Industries with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

POWL

Smart Money Is Betting Big In POWL Options

Deep-pocketed investors have adopted a bearish approach towards Novo Nordisk (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in NVO usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 20 extraordinary options activities for Novo Nordisk. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 45% leaning bullish and 50% bearish. Among these notable options, 15 are puts, totaling $739,514, and 5 are calls, amounting to $274,325.
<h3>Predicted Price Range</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $95.0 to $135.0 for Novo Nordisk over the last 3 months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Novo Nordisk's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Novo Nordisk's significant trades, within a strike price range of $95.0 to $135.0, over the past month.
<h3>Novo Nordisk Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728066812_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>NVO</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$6.2</td>
<td>$6.1</td>
<td>$6.1</td>
<td>$110.00</td>
<td>$151.2K</td>
<td>1.9K</td>
<td style="text-align: right;">559</td>
</tr>
<tr>
<td>NVO</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$4.45</td>
<td>$4.3</td>
<td>$4.31</td>
<td>$95.00</td>
<td>$86.1K</td>
<td>211</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>NVO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$6.0</td>
<td>$5.85</td>
<td>$5.93</td>
<td>$120.00</td>
<td>$69.5K</td>
<td>902</td>
<td style="text-align: right;">153</td>
</tr>
<tr>
<td>NVO</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$4.35</td>
<td>$4.25</td>
<td>$4.35</td>
<td>$135.00</td>
<td>$65.2K</td>
<td>908</td>
<td style="text-align: right;">151</td>
</tr>
<tr>
<td>NVO</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$2.52</td>
<td>$2.49</td>
<td>$2.52</td>
<td>$115.00</td>
<td>$62.7K</td>
<td>3.5K</td>
<td style="text-align: right;">581</td>
</tr>
</tbody>
</table>

<h3>About Novo Nordisk</h3>
With roughly one third of the global branded diabetes treatment market, Novo Nordisk is the leading provider of diabetes-care products in the world. Based in Denmark, the company manufactures and markets a variety of human and modern insulins, injectable diabetes treatments such as GLP-1 therapy, oral antidiabetic agents, and obesity treatments. Novo also has a biopharmaceutical segment (constituting roughly 10% of revenue) that specializes in protein therapies for hemophilia and other disorders.
Having examined the options trading patterns of Novo Nordisk, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Novo Nordisk's Current Market Status</h3>
<ul>
<li>Currently trading with a volume of 4,698,394, the NVO's price is down by -0.73%, now at $114.24. </li>
<li>RSI readings suggest the stock is currently may be oversold.</li>
<li>Anticipated earnings release is in 33 days.</li>
</ul>
<h3>Professional Analyst Ratings for Novo Nordisk</h3>
In the last month, 3 experts released ratings on this stock with an average target price of $160.0.
Turn $1000 into $1270 in just 20 days?
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; An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $160. 
&#x2A; An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $160. 
&#x2A; An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $160. 
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 Novo Nordisk with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Novo Nordisk's Options: A Look at What the Big Money is Thinking

The best traders understand that certain price levels in the financial markets are more important than others. They also know how to identify them. These are called support <a href="https://www.benzinga.com/topic/stock-of-the-day">levels and resistance levels</a>.
An important dynamic of the markets is how price levels that had been support can convert into resistance, and how price levels that had been resistance can convert into support. The chart of FedEx Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) shows clear examples of this. This is why it is our Stock of the Day.
As you can see, the $289 level was resistance for FedEx in late March. Then the level converted into support in late June. You can also see that the $255.70 level was resistance in June. Then it converted into a support level in September.
Price levels that had been resistance levels can convert into support because of seller's remorse.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="628" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04142737/1-1-3-1024x628.png" alt="" class="wp-image-581529" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04142737/1-1-3-1024x628.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04142737/1-1-3-300x184.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04142737/1-1-3-768x471.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04142737/1-1-3.png 1183w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read Also: <a href="https://www.benzinga.com/news/earnings/24/09/41030719/fedex-stock-dips-another-reason-to-fear-recession-is-near">FedEx Stock Dips: Another Reason to Fear Recession Is Near</a>
Some traders and investors sold their shares while the stock was at resistance. If the price trends lower after they make their sales, they believe their decision to sell was a good one.
But if the price moves higher than the resistance, a number of these investors and traders regret selling. They think they made a mistake and decide to buy their shares back if they can get them for the same price they were sold at.
As a result, when the price eventually returns to what had been resistance, they place buy orders. And if there are enough of these buy orders it creates support. This is what happened at the $289 and $255.70 levels for FedEx.
The chart also shows an example of a support level converting into resistance. The $276 level had been support in August. Then it became a resistance level in early October.
Support can turn into resistance because of buyer's remorse.
There are traders and investors who regret buying their shares while they were at support if the support breaks and the price goes lower. Many of them decide to sell their positions. But they don't want to lose money.
As a result, if and when the shares eventually rally back to their buy price, they place sell orders. This way they can exit their positions at breakeven. If there are enough of these sell orders, it will create resistance at the price that was previously a support level.
This is what happened with the $276 level for <a href="https://www.benzinga.com/quote/FDX">FedEx</a>.
Understanding which price levels are important helps traders and investors decide where to place their buy and sell orders. This can result in profits.
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Image: Shutterstock

Technicals

Stock Of The Day: FedEx Delivers An Important Trading Lesson

U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining more than 100 points on Friday.
The Dow traded up 0.37% to 42,165.39 while the NASDAQ rose 0.77% to 18,056.62. The S&amp;P 500 also rose, gaining, 0.46% to 5,726.34.
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/10/41183602/how-to-earn-500-a-month-from-phillips-66-stock-ahead-of-q3-earnings">How To Earn $500 A Month From Phillips 66 Stock Ahead Of Q3 Earnings</a>
Leading and Lagging Sectors Financials shares jumped by 1.2% on Friday.
In trading on Friday, real estate shares dipped by 0.9%.
Top Headline
The total number of active U.S. oil rigs fell by five to 479 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>Phoenix Motor Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEV#NASDAQ">PEV</a>) shares shot up 188% to $1.0012 after the company reported a substantial increase in the first-quarter results.</li>
<li>Shares of Apogee Enterprises, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APOG#NASDAQ">APOG</a>) got a boost, surging 24% to $85.08 after the company reported better-than-expected second-quarter financial results and raised its FY25 adjusted EPS guidance above estimates.</li>
<li>Beneficient (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BENF#NASDAQ">BENF</a>) shares were also up, gaining 53% to $1.82 after the company announced its subsidiary, Beneficient Company Holdings, consummated a previously announced transaction pursuant to which approximately $126 million of its preferred equity was redesignated as non-redeemable.</li>
</ul>
Equities Trading DOWN
<ul>
<li>AMTD Digital Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HKD#NYSE">HKD</a>) shares dropped 15% to $4.45.</li>
<li>Shares of ZIM Integrated Shipping Services Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZIM#NYSE">ZIM</a>) were down 12% to $19.06.</li>
<li>Spirit Airlines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) was down, falling 27% to $1.6459 following a report suggesting that the company is exploring the potential of filing for bankruptcy.</li>
</ul>
Commodities In commodity news, oil traded up 1.5% to $74.83 while gold traded down 0.5% at $2,665.30.
Silver traded down 0.3% to $32.375 on Friday, while copper rose 0.3% to $4.5670.
Euro zone
European shares closed mostly higher today. The eurozone's STOXX 600 rose 0.44%, Germany's DAX rose 0.55% and France's CAC 40 climbed 0.85%. Spain's IBEX 35 Index rose 0.35%, while London's FTSE 100 fell 0.02%.
The S&amp;P Global UK construction PMI jumped to 57.2 in September compared to 53.6 in the previous month, while France construction PMI declined to 37.9 in September from 40.1 in the earlier month. The HCOB Eurozone construction PMI climbed to 42.1 in September versus 41.4 in the prior two months.
Asia Pacific Markets
Asian markets closed mixed on Friday, with Japan's Nikkei 225 gaining 0.22%, Hong Kong's Hang Seng Index gaining 2.82% and India's BSE Sensex dipping 0.98%.
The HSBC India services PMI was revised downward to 57.7 in September versus a preliminary reading of 58.9. The S&amp;P Global Hong Kong SAR PMI surged to 50.0 in September compared to August's reading of 49.4.
Economics
<ul>
<li>The U.S. economy added 254,000 jobs in September, compared to a revised 159,000 gain in August, and topping market estimates of 147,000. The unemployment rate declined to 4.1% in September from 4.2% in the previous month.</li>
<li>The total number of active U.S. oil rigs fell by five to 479 rigs this week, Baker Hughes Inc reported.</li>
</ul>
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</ul>

Earnings

Eurozone

Commodities

Intraday Update

APOG

BENF

SAVE

Nasdaq Gains Over 100 Points; Beneficient Shares Spike Higher

JP Morgan analyst Samik Chatterjee maintains Sensata Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ST#NYSE">ST</a>) with a Underweight and lowers the price target from $35 to $34.

JP Morgan Maintains Underweight on Sensata Technologies, Lowers Price Target to $34

U.S. Military Says It Conducted Strikes On 15 Houthi Targets In Houthi-Controlled Areas Of Yemen On Friday

White House Advisor Brainard Says We Don't Expect To See Any Effects On Our Economy Or For Consumers, Businesses And Farmers

Boeing Union Says Negotiations Will Resume October 7 With Assistance From Federal Mediator

JP Morgan analyst Andrea Teixeira maintains Constellation Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>) with a Overweight and lowers the price target from $307 to $293.

JP Morgan Maintains Overweight on Constellation Brands, Lowers Price Target to $293

The National Football League is shopping some of its media assets and Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARAA#NASDAQ">PARAA</a>) could be a winner thanks to its <a href="https://www.benzinga.com/general/entertainment/24/09/40754610/paramount-to-be-controlled-by-worlds-sixth-richest-man-larry-ellison-how-helping-his-son-la">pending merger with Skydance Media.</a>
What Happened: The National Football League&#8217;s <a href="https://www.benzinga.com/general/sports-betting/24/05/38909548/2024-nfl-schedule-unpacked-media-partners-win-taylor-swift-tour-dates-considered-new-betti" target="_blank" rel="noopener">media partners,</a> including Paramount's CBS broadcast network and Paramount+ streaming platform, have benefited from strong viewership in recent years.
The NFL is in talks with Skydance Media and RedBird Capital Partners, who is an investor in Skydance, over the league's media assets, according to a report from <a href="https://www.bloomberg.com/news/articles/2024-10-03/nfl-is-in-talks-with-ellison-s-skydance-redbird-about-deals?sref=TBDibEcD">Bloomberg</a>.
The talks include the sale of NFL Media and the NFL Network cable channel, and could also include an acquisition of the league's interest in Skydance Sports by Paramount Global, Bloomberg reports. Skydance Sports is a joint venture between the NFL and Skydance.  
The NFL invested $45 million in Skydance Sports in 2022 and has partnered with the media company on "Hard Knocks" and other content. Skydance Sports is also producing an upcoming documentary series on Dallas Cowboys owner Jerry Jones.
RedBird is also a partner with the NFL on EverPass Media, which helps the league distribute NFL Sunday Ticket to bars and restaurants.
Why It's Important: Paramount's partnership with the NFL includes a change of control provision that could allow the NFL to look for another media partner if the company sees its control change hands, which Paramount investors could closely watch.
Paramount&#8217;s discussions with the NFL regarding NFL Media assets and potentially the Skydance Sports rights could show an early sign of cooperation between the league and media company despite the provision.
Paramount currently pays over $2 billion annually to the NFL. While the NFL likely won't shop for a new partner, it could look to get more out of Paramount and Skydance with the latest talks, a potential win-win.
The report said talks between the NFL and ESPN, a unit of The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>), have stalled.
ESPN was previously in talks with the NFL about acquiring the NFL Media assets, including the NFL Network and NFL RedZone. Reports said the league wanted an ownership stake in ESPN, but it is unclear if that led to talks stalling.
NFL viewership<a href="https://www.benzinga.com/general/sports-betting/24/09/41056777/nfl-week-4-betting-odds-national-tv-games-will-daniel-jones-stay-winless-on-thursdays-how-"> has been strong</a> in the 2024 season, with an average of 17.9 million viewers per game <a href="https://frontofficesports.com/nfl-ratings-surge-in-september-with-chiefs-in-four-of-top-five-games/">through </a>the first four weeks of the season, up 4% year-over-year. The viewership marks the best start to the NFL season since 2015.
With strong viewership for NFL games, Paramount would likely jump at the opportunity to get more content if the price is right.
PARA Price Action: Paramount stock trades at $10.46 versus a 52-week trading range of $9.54 to $17.50. Paramount stock is down 28% year-to-date in 2024.
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</ul>
Photo: Shutterstock

Sports

PARA

PARAA

Could Paramount Gain Additional NFL Content Through Skydance Merger? New Report Indicates ESPN Talks Stalled

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'Jamie Dimon denies Trump's claim that JPMorgan CEO has endorsed him' -CNBC Report

JP Morgan analyst Anupam Rama maintains Nuvalent (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUVL#NASDAQ">NUVL</a>) with a Overweight and raises the price target from $100 to $125.

NUVL

JP Morgan Maintains Overweight on Nuvalent, Raises Price Target to $125

Movers

FangDD Shares Halted On Circuit Breaker To Downside; Down 18%

JP Morgan analyst Jeremy Tonet maintains DT Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DTM#NYSE">DTM</a>) with a Neutral and raises the price target from $78 to $83.

JP Morgan Maintains Neutral on DT Midstream, Raises Price Target to $83

Thursday, The FDA determined the shortage of Eli Lilly And Co&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) tirzepatide injection, a glucagon-like peptide 1 (GLP-1) medication, has been resolved.
Tirzepatide injection, branded as Mounjaro and Zepbound, has been in shortage since 2022 due to increased demand.
The U.S. health regulator <a target="_blank" href="https://www.fda.gov/drugs/drug-safety-and-availability/fda-clarifies-policies-compounders-national-glp-1-supply-begins-stabilize" rel="noreferrer noopener">reminded</a> compounders of the legal restrictions on making copies of FDA-approved drugs.
The FDA noted that Novo Nordisk A/S&#8216; (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) semaglutide (Wegovy, Ozempic) is still in shortage.
Despite semaglutide being the active ingredient in Hims &amp; Hers Health Inc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NYSE">HIMS</a>) compounded GLP-1 product, a Truist analyst notes that the recent FDA commentary has reignited investor concerns about the long-term viability of compounded GLP-1 treatments once <a target="_blank" href="https://www.benzinga.com/news/24/10/41164688/hims-hers-health-stock-is-tumbling-thursday-heres-why" rel="noreferrer noopener">the supply shortage ends</a>.
Truist&#8217;s consumer survey reveals that approximately 10% of consumers currently use compounded GLP-1 medications, while 14% are on branded versions.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40944130/hims-hers-to-offer-access-to-compounded-diabetes-and-weight-loss-drugs-for-just-99month-to-certain-p" rel="noreferrer noopener">Hims &amp; Hers To Offer Access To Compounded Diabetes And Weight Loss Drugs For Just $99/Month To Certain Professional Personnel</a>.
Many people opting for compounded GLP-1s cite lower costs as the main reason, while others note that their primary care physicians are hesitant to prescribe the branded versions.
Hims &amp; Hers Health&#8217;s assertion that demand for its weight loss service could remain strong, even after supply shortages ease, as long as the company operates within compounding regulations and respects branded drug patents.
Based on third-quarter card data analysis, the analyst notes that Hims &amp; Hers Health&#8217;s Q3 2024 revenue is expected to exceed the company&#8217;s guidance range of $375 million to $380 million by approximately $5 million to $10 million.
The analyst also highlights that Hims &amp; Hers Health&#8217;s average transaction price was up 14% sequentially at $126.9 vs. ~$111 in the second quarter of 2024. Net orders for 3Q24 increased 3% sequentially from 2Q24.
Truist maintains a Hold rating for Hims &amp; Hers Health with a <a target="_blank" href="https://www.benzinga.com/quote/HIMS/analyst-ratings" rel="noreferrer noopener">price target of $23</a>.
Price Action: HIMS stock is up 0.18% at $17.16 at the last check Friday.
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Photo by Vidmir Rais via Pixabay

Biotech

Health Care

Hims & Hers Health, Inc. Class A Common Stock

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Ability

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Latest news for Ability (OTC:ABILF) Stock

Tuesday, March 24, 2020