Latest news for Flexpower (OTC:FLXP) Stock

Flexpower Inc, through its subsidiary IntelliCash, mainly engages in financial services, namely providing secured collateralized personal, bridge and term loans to individuals and businesses located within the United States of America.

Flexpower Inc

Macro Economic Events

News

Econ #s

Economics

USA PPI ex. Food/Energy/Transport (YoY) For September 3.2%; 3.3% Prior

USA PPI (MoM) For September 0.0% Vs 0.1% Est.; 0.2% Prior

Core PPI YoY For Sept. 2.8% Vs 2.7% Expected, 2.4% Prior

Macro Notification

General

US PPI (YoY) (Sep) +1.8% vs +1.6% Est.

JP Morgan CFO Says Normalization In Credit Card Charge-offs Has Happened Even If There Is A Slight Uptick Going Ahead; Deposit Margins Yet To Normalize; We Have Been Over-Earning On Deposit Margin And Credit But On Path To Normalization

JP Morgan CFO Says Stock Buyback Increased In Q3 As Gains From Visa Transaction Was Deployed; CEO Says Recent Hurricanes Are Unlikely To Have A Huge Impact On The Overall Economy; CFO Says Earnings Are Consistent With A Soft Landing, Or No Landing Narrative; Consumer Spending And Charge-off Rates Are Normal; Sees Stable, Modest Economic Growth; Net Interest Income Trough Will Occur In The Future; Net Charge Off Rates May Go Up Little Bit

Scotiabank analyst Nat Schindler initiates coverage on Amazon.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) with a Sector Outperform rating and announces Price Target of $245.

Price Target

Initiation

Analyst Ratings

AMZN

Scotiabank Initiates Coverage On Amazon.com with Sector Outperform Rating, Announces Price Target of $245

JPMorgan Chase CEO Jamie Dimon Says Geopolitics May Or May Not Have Dramatic Impact On Economy; CFO Says The Us Consumer Is Fine And On A Strong Footing; Loan Loss Provisions Rose As It Expects More 'Normal' Credit Quality And Has Expanded Lending; Markets Are Priced To Perfection, Doesn't See Enough Opportunities For Capital Deployment; Mortgage Applications And Refinancing Have Picked Up After The Fed Rate Cut

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a<a href="https://www.benzinga.com/yield-investments"> high dividend payout</a>.
Benzinga readers can review the latest analyst takes on their favorite stocks by visiting <a href="https://www.benzinga.com/analyst-stock-ratings">Analyst Stock Ratings</a> page. Traders can sort through Benzinga's extensive database of analyst ratings, including <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">by analyst accuracy</a>.
Below are the ratings of the most accurate analysts for three high-yielding stocks in the utilities sector.
<h3 class="wp-block-heading">UGI Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UGI#NYSE">UGI</a>)</h3>
<ul>
<li>Dividend Yield: 6.27%</li>
<li>Wells Fargo analyst Sarah Akers maintained an Equal-Weight rating and cut the price target from $28 to $27 on May 3. This analyst has an accuracy rate of 70%.</li>
<li>Mizuho analyst Gabriel Moreen maintained a Neutral rating and raised the price target from $26 to $27 on April 17. This analyst has an accuracy rate of 76%.</li>
<li>Recent News: On Sept. 30, UGI appointed Melanie Ruiz and David Bingenheimer as directors of UGI Corporation, effective Nov. 1.</li>
<li>Benzinga Pro's real-time newsfeed alerted to <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent101124&amp;t=be2bearmibe3na1">latest UGI news</a>.</li>
</ul>
<figure class="wp-block-image is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent101124&amp;t=be2bearmibe3na1"><img decoding="async" src="blob:https://editorial.benzinga.com/4c6d6424-5530-43a8-a30c-90b01ed66964" alt="" style="width:626px;height:auto" /></a></figure>
<h3 class="wp-block-heading">Avista Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVA#NYSE">AVA</a>)</h3>
<ul>
<li>Dividend Yield: 5.11%</li>
<li>Mizuho analyst Anthony Crowdell upgraded the stock from Underperform to Neutral and raised the price target from $32 to $36 on May 3. This analyst has an accuracy rate of 63%.</li>
<li>Guggenheim analyst Shahriar Pourrezza upgraded the stock from Sell to Neutral with a price target of $34 on Jan. 22. This analyst has an accuracy rate of 68%.</li>
<li>Recent News: Avista will hold its quarterly conference call to discuss third quarter results on Wednesday, Nov. 6.</li>
<li>Benzinga Pro's real-time newsfeed alerted to <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent101124&amp;t=be2bearmibe3na1">latest AVA news.</a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent101124&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="891" height="870" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/11082357/image-85.png" alt="" class="wp-image-591224" style="width:721px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/11082357/image-85.png 891w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/11082357/image-85-300x293.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/11082357/image-85-768x750.png 768w" sizes="(max-width: 891px) 100vw, 891px" /></a></figure>
<h3 class="wp-block-heading">Eversource Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ES#NYSE">ES</a>)</h3>
<ul>
<li>Dividend Yield: 4.48%</li>
<li>BMO Capital analyst James Thalacker maintained a Market Perform rating and raised the price target from $70 to $74 on Oct. 3. This analyst has an accuracy rate of 74%.</li>
<li>Mizuho analyst Paul Fremont maintained an Outperform rating and boosted the price target from $62 to $73 on Oct. 2. This analyst has an accuracy rate of 63%.</li>
<li>Recent News: On Sept. 30, Eversource Energy completed the exit of offshore wind business.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent101124&amp;t=be2bearmibe3na1">trend in ES stock</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent101124&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="905" height="852" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/11082441/image-86.png" alt="" class="wp-image-591228" style="width:628px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/11082441/image-86.png 905w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/11082441/image-86-300x282.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/11082441/image-86-768x723.png 768w" sizes="(max-width: 905px) 100vw, 905px" /></a></figure>
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="How to Find Dividend Stocks: Scan, Analyze, and Capture with Benzinga Pro" width="500" height="281" src="https://www.youtube.com/embed/pVF0O2lsEH4?start=1&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/10/41286575/s-p-pulls-back-from-record-high-as-inflation-data-dents-investor-optimism-fear-index-remains-in-gre">S&amp;P Pulls Back From Record High As Inflation Data Dents Investor Optimism: Fear Index Remains In &#8216;Greed&#8217; Zone</a></li>
</ul>

Dividends

Pre-Market Outlook

Markets

Wall Street's Most Accurate Analysts Weigh In On 3 Utilities Care Stocks With Over 4% Dividend Yields

Evercore ISI Group analyst Mark Mahaney initiates coverage on Cardlytics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDLX#NASDAQ">CDLX</a>) with a In-Line rating and announces Price Target of $4.

CDLX

Evercore ISI Group Initiates Coverage On Cardlytics with In-Line Rating, Announces Price Target of $4

Scotiabank analyst Nat Schindler initiates coverage on Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) with a Sector Perform rating and announces Price Target of $585.

Scotiabank Initiates Coverage On Meta Platforms with Sector Perform Rating, Announces Price Target of $585

Maxim Group initiates coverage on Cheche Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCG#NASDAQ">CCG</a>) with a Buy rating and announces Price Target of $2.5.

Maxim Group Initiates Coverage On Cheche Group with Buy Rating, Announces Price Target of $2.5

Management

COHR

Coherent Names Sherri Luther As CFO Effective Today, Oct. 11, 2024

Celestica Launches New DS4100 800G Switch Optimized For AI And Machine Learning Data Center Workloads

The Bank Of New York Mellon Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) shares are trading higher in the premarket session on Friday after its <a href="https://www.benzinga.com/pressreleases/24/10/n41288143/bny-reports-third-quarter-2024-results" target="_blank" rel="noreferrer noopener">third-quarter results</a>.
The finance behemoth reported third-quarter adjusted earnings per share of $1.52 (+20% YoY), <a href="https://www.benzinga.com/earnings">beating the street view of $1.42.</a>
Quarterly revenue of $4.648 billion, an increase of 5% year-over-year, surpassed the analyst consensus of $4.542 billion.
Net interest income rose by 3% YoY, driven mainly by higher yields from the investment securities portfolio and balance sheet expansion, though partially offset by shifts in the deposit mix.
Fee revenue in the quarter grew 5% year over year to $3.404 billion. Investment revenue rose, reflecting&nbsp;a strategic equity loss in 3Q23 and better seed capital investment performance.
Noninterest expense for the quarter stood at $3.1 billion flat YoY, as higher investments and merit increases were offset by efficiency savings and a reduced FDIC assessment. Excluding notable items, it increased 1%.
The Bank of New York Mellon reported average deposits of $285 billion, which increased 9% year over year and remained flat sequentially.
Related: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41236943/higher-fee-income-to-aid-bny-mellons-q3-earnings-subdued-nir-to-hurt" rel="noreferrer noopener">Higher Fee Income to Aid BNY Mellon&#8217;s Q3 Earnings, Subdued NIR to Hurt</a>
The company stated that its third-quarter tier 1 leverage ratio of 6.0% decreased 4 bps year-over-year and increased 19 bps sequentially. Adjusted pre-tax operating margin totaled 33% (vs. 31% a year ago).
As of September-end, CET1 capital was $19.7 billion, and Tier 1 capital was $24.0 billion, up from June-end, due to earnings, partially offset by stock repurchases and dividends.
Dividend: BNY declared a common stock dividend of $0.47 per share, payable on November 1 to shareholders of record <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/n41288184/bny-declares-dividends" rel="noreferrer noopener">as of the close of business on October 21</a>.
The bank returned $1.08 billion to common shareholders, including $353 million in dividends and $725 million in share repurchases, achieving a total payout ratio of 103% year-to-date.
Also Read: <a target="_blank" href="v" rel="noreferrer noopener">Banks Gear Up For Earnings Season: 15 Top Stock Picks Including Citigroup, Morgan Stanley, And Truist</a>
&#8220;BNY reported strong third quarter results, reflecting growth across our three business segments and consistent execution against our strategic priorities, with assets under custody and/or administration exceeding $50 trillion for the first time,&#8221; commented Robin Vince, President and Chief Executive Officer.
&#8220;Our actions to run our company better, including our ongoing transition to a platforms operating model, are starting to deliver progress toward our medium-term financial targets and additional capacity to reinvest for growth through new and enhanced client solutions,&#8221; added Vince.
Price Action: BK shares are trading higher by 2.07% to $75.99 premarket at the last check Friday.
Photo by JHVEPhoto via Shutterstock

Earnings

Large Cap

Movers

BNY Mellon Q3 Earnings: Fee Income Soars 5%, Setting New $50T Record In Assets Under Custody

Stock Split

23andMe Announces 1-For-20 Reverse Stock Split Effective October 16

JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) shares are trading higher premarket after it reported&nbsp;<a target="_blank" href="https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/quarterly-earnings/2024/3rd-quarter/66269bb6-ecc5-4172-b461-6b7e7cd47aab.pdf" rel="noreferrer noopener">third-quarter FY24 results</a>.
Reported revenue&nbsp;rose 7%&nbsp;year-on-year to&nbsp;$42.654 billion, beating the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41288439/jpmorganchase-reports-third-quarter-2024-financial-results" rel="noreferrer noopener">consensus of&nbsp;$41.649 billion</a>. Net revenue (managed) stood at&nbsp;$43.3 billion (+6% Y/Y) in the quarter.
Consumer &amp; Community Banking (CCB) revenue declined 3% Y/Y to&nbsp;$17.791 billion, and Commercial &amp; Investment Banking was&nbsp;$17.015 billion (+8%&nbsp;Y/Y) in the quarter.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41278311/jpmorgan-earnings-are-imminent-these-most-accurate-analysts-revise-forecasts-ahead-of-earnings-call" rel="noreferrer noopener">JPMorgan Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call</a>
Investment Banking revenue was&nbsp;$2.4 billion, up&nbsp;29%. Investment Banking fees rose 31% year over year, led by higher fees across all products.
Asset and Wealth Management (AWM) revenue was&nbsp;$5.4 billion (+9% Y/Y), and Corporate revenue stood at&nbsp;$3.07 billion (+97% Y/Y) in the quarter.
In AWM,&nbsp;Assets under management (AUM) stood at&nbsp;$3.9 trillion, and, client assets stood at&nbsp;$5.7 trillion (up 23%), driven by higher market levels and continued net inflows.
Net interest income increased by 3% Y/Y to $23.5 billion and&nbsp;+1% Y/Y, excluding Markets. Noninterest revenue was&nbsp;$19.8 billion, up&nbsp;11% Y/Y, in the quarter.
Noninterest revenue, excluding Markets, rose 17% to $12.7 billion, fueled by lower net investment securities losses, higher asset management fees in AWM and CCB, and increased investment banking fees.
Noninterest expense increased 4% to $22.6 billion, mainly due to higher compensation and employee growth. Average loans rose&nbsp;1% Y/Y and Q/Q; average deposits were up 1% Y/Y and Q/Q.
In CCB, Debit and credit card sales volume increased by&nbsp;6% year over year, and active mobile customers were up&nbsp;7% year over year.&nbsp;In CIB, Market revenue rose&nbsp;8%&nbsp;year over year, with Fixed Income Markets flat year over year and Equity Markets up&nbsp;27%&nbsp;year over year in the quarter.
JPM's provision for credit losses was&nbsp;$3.11 billion (+125% Y/Y), including net charge-offs of&nbsp;$2.1 billion and a net reserve build of $1.0 billion.&nbsp;
Net income fell 2%&nbsp;Y/Y to&nbsp;$12.90 billion in the quarter. EPS of&nbsp;$4.37, exceeding&nbsp;<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">the consensus of&nbsp;$4.00</a>.
The CET1 capital ratio stood at&nbsp;15.3%, and the advanced CET1 capital ratio was&nbsp;15.5%. The bank disclosed a dividend per share of $1.25 and a share repurchase of $6.0 billion.
<a target="_blank" href="https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/quarterly-earnings/2024/3rd-quarter/af682bd9-14a5-406e-94d4-a7b4c5bed345.pdf" rel="noreferrer noopener">Outlook</a>: JPMorgan now expects FY24 net interest income,&nbsp;excluding Markets, of ~$92.5 billion <a target="_blank" href="https://www.benzinga.com//node/39747860" rel="noreferrer noopener">(up from ~$91 billion earlier)</a>. The bank continues to project card&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">services NCO rate of ~3.40%.</a>
Jamie Dimon, Chairman and CEO, said, "We await our regulators' new rules on the Basel III endgame and the G-SIB surcharge as well as any adjustments to the SCB or CCAR&#8230;Regardless of the outcome of these rules, we have an extraordinarily strong balance sheet, evidenced by total loss-absorbing capacity of $544 billion plus cash and marketable securities of $1.5 trillion, while our riskiest assets, loans, total $1.3 trillion."
"On share repurchases, given that market levels are at least slightly inflated, we maintain our modest pace of buybacks, although we reserve the right to adjust this at any time."
"We have been closely monitoring the geopolitical situation for some time, and recent events show that conditions are treacherous and getting worse."
"Additionally, while inflation is slowing and the U.S. economy remains resilient, several critical issues remain, including large fiscal deficits, infrastructure needs, restructuring of trade and remilitarization of the world."
Investors can gain exposure to the stock via&nbsp;IShares U.S. Financial Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYG#NYSE">IYG</a>) and&nbsp;SPDR Select Sector Fund – Financial&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>).
Price Action: JPM shares are up 1.39% at $215.79 premarket at the last check Friday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/10/41289207/wells-fargo-q3-earnings-lower-profit-on-squeezed-interest-income-but-investment-banking-fees-provid" target="_blank" rel="noreferrer noopener">Wells Fargo Q3 Earnings: Lower Profit On Squeezed Interest Income, But Investment Banking Fees Provides Cushion</a></li>
</ul>
Photo by Katherine Welles on Shutterstock

Equities

Guidance

Buybacks

JPMorgan Chase Q3 Earnings: Investment Banking Revenue Soars 29%, Largest Bank Raises Net Interest Income Outlook

JP Morgan analyst Ryan Brinkman upgrades Ferrari (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RACE#NYSE">RACE</a>) from Neutral to Overweight and raises the price target from $385 to $525.

Upgrades

RACE

JP Morgan Upgrades Ferrari to Overweight, Raises Price Target to $525

Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares pulled back sharply in premarket trading on Friday as the much-hyped Robotaxi unveil event, which went by the name <a href="https://www.benzinga.com/news/24/10/41284847/tesla-reveals-two-seater-cybercab-that-drives-itself">&#8220;We, Robot&#8221; </a>did not generate the kind of positive sentiment the market was hoping.
CEO Elon Musk demoed the Cybercab, Tesla&#8217;s completely autonomous vehicle, at the event held in Los Angeles. The company made available 20 units of the electric vehicle. One of the EVs drove itself to the stage with Musk seated within. The Cybercab with its butterfly wings that opened upwards left all event participants awestruck and it was shown to be cost-competitive to existing ride-hailing services.
The Cybercab will be priced under $30,000, Musk said. 
The billionaire&#8217;s comments that the Cybercab will go into<a href="https://www.benzinga.com/news/24/10/41288103/elon-musks-fully-autonomous-driving-dreams-now-scheduled-for-2025-but-regulatory-hurdles-stand-in-th"> production only in 2026,</a> or possibly in 2027 spooked investors.
See Also:&nbsp;<a href="https://www.benzinga.com/money/how-to-buy-tesla-stock" target="_blank" rel="noreferrer noopener">How To Buy Tesla (TSLA) Stock</a> 
Tesla said its unsupervised full self-driving would be released in Texas and California in 2025, and be expanded based on state regulatory parameters.
The company also provided updates to its Optimus humanoid robots, stating that it will be priced at $25K-$30K in the long term. Deepwater Asset Management&#8217;s Gene Munster said the robot could hit the price point only by 2030. The surprise launch of the event was the Robovan, which Munster sees materializing by 2028 at best.
With regulatory clearance for the unsupervised FSD still uncertain and most other product offerings not fructifying before 2027, investors may fret over the absence of any near-term catalysts that can drive the stock out of the current rut.
The stock fell 5.88% to $224.72&nbsp;in premarket trading, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
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:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41286875/tesla-analysts-rave-over-cybercabs-design-cost-advantage-but-production-timeline-sp">Tesla Analysts Rave Over Cybercab&#8217;s Design, Cost Advantage, But Production Timeline Sparks Worry: &#8216;Too Far Out For Skeptical Investors To Get On Board&#8217;</a></li>
</ul>
Image via Shutterstock

Tech

Trading Ideas

TSLA

Tesla Stock Poised To Pullback To 1-Month Low: What's Going On?

JP Morgan analyst Lucas Ferreira downgrades Sociedad Quimica Y Minera (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQM#NYSE">SQM</a>) from Overweight to Neutral and lowers the price target from $55 to $44.

Downgrades

JP Morgan Downgrades Sociedad Quimica Y Minera to Neutral, Lowers Price Target to $44

Flexpower

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