First Trust Indxx Global Agriculture ETF (NASDAQ: FTAG)

First Trust Indxx Global Agriculture ETF (NASDAQ:FTAG), Trade Ideas

First Trust Indxx Global Agriculture ETF

U.S. stock futures were mixed this morning, with the Dow futures gaining around 100 points on Tuesday.
Shares of Live Nation Entertainment, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lyv#NYSE">LYV</a>) fell sharply in today&rsquo;s pre-market trading following a report indicating the Justice Department will file an antitrust lawsuit <a href="https://www.benzinga.com/quote/LYV/analyst-ratings">against the company</a>.
Live Nation Entertainment shares dipped 7.8% to $92.02 in pre-market trading.
Here are some big stocks recording losses in today&rsquo;s pre-market trading session.
<ul>
<li>Inovio Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ino#NASDAQ">INO</a>) shares dipped 24.3% to $8.32 in pre-market trading. INOVIO priced its $36 million underwritten offering of 2,536,258 common stock at $7.693 per share.</li>
<li>Groupon, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/grpn#NASDAQ">GRPN</a>) shares declined 8.9% to $9.11 in pre-market trading. Groupon said Italian tax authorities have placed a lien on Groupon S.r.l.&#39;s bank account, which currently restricts outgoing payments from that account.</li>
<li>Lyell Immunopharma Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lyel#NASDAQ">LYEL</a>) shares fell 7.1% to $2.23 in pre-market trading after dipping 20% on Monday.</li>
<li>ArcelorMittal SA (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mt#NYSE">MT</a>) shares fell 6% to $25.33 in pre-market trading after Deutsche Bank downgraded the stock from Buy to Hold.</li>
<li>Tevogen Bio Holdings Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tvgn#NASDAQ">TVGN</a>) shares declined 6% to $2.21 in pre-market trading following a 4% decline on Monday.</li>
<li>Lennox International Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lii#NYSE">LII</a>) shares fell 5.8% to $434.82 in pre-market trading. Lennox is expected to report first quarter 2024 financial results before the opening bell on April 24, 2024.</li>
<li>Clean Energy Fuels Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/clne#NASDAQ">CLNE</a>) shares declined 5.6% to $2.20 in pre-market trading after falling around 5% on Monday.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/04/38263545/johnson-johnson-likely-to-report-higher-q1-earnings-here-are-the-recent-forecast-changes-from-wall-"> Johnson &amp; Johnson Likely To Report Higher Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street&#39;s Most Accurate Analysts</a>
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a>

News

Penny Stocks

Small Cap

Pre-Market Outlook

Markets

Movers

Trading Ideas

CLNE

GRPN

LYEL

TVGN

Live Nation Entertainment, Groupon And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session

<h3>Companies Reporting Before The Bell</h3>
&bull; Traws Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRAW#NASDAQ">TRAW</a>) is expected to report earnings for its fourth quarter.
&bull; Telefonaktiebolaget L M (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ERIC#NASDAQ">ERIC</a>) is estimated to report quarterly earnings at $0.05 per share on revenue of $5.34 billion.
&bull; Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) is expected to report quarterly earnings at $0.77 per share on revenue of $25.45 billion.
&bull; PNC Finl Servs Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>) is projected to report quarterly earnings at $3.03 per share on revenue of $5.19 billion.
&bull; Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) is expected to report quarterly earnings at $1.19 per share on revenue of $4.38 billion.
&bull; Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) is likely to report quarterly earnings at $2.64 per share on revenue of $21.41 billion.
&bull; UnitedHealth Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) is projected to report quarterly earnings at $6.73 per share on revenue of $99.47 billion.
&bull; Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) is expected to report quarterly earnings at $1.68 per share on revenue of $14.43 billion.
&bull; Northern Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTRS#NASDAQ">NTRS</a>) is projected to report quarterly earnings at $1.44 per share on revenue of $1.75 billion.
&bull; Commerce Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBSH#NASDAQ">CBSH</a>) is projected to report quarterly earnings at $0.80 per share on revenue of $390.36 million.
&bull; Mercantile Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBWM#NASDAQ">MBWM</a>) is likely to report quarterly earnings at $1.14 per share on revenue of $55.38 million.
<h3>Companies Reporting After The Bell</h3>
&bull; CXApp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CXAI#NASDAQ">CXAI</a>) is likely to report quarterly loss at $0.35 per share on revenue of $1.80 million.
&bull; Xcel Brands (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XELB#NASDAQ">XELB</a>) is expected to report quarterly loss at $0.18 per share on revenue of $2.64 million.
&bull; Safe &amp; Green Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGBX#NASDAQ">SGBX</a>) is projected to report quarterly earnings at $0.00 per share on revenue of $11.47 million.
&bull; GameSquare Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GAME#NASDAQ">GAME</a>) is expected to report quarterly loss at $0.23 per share on revenue of $16.50 million.
&bull; Equity Bancshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQBK#NYSE">EQBK</a>) is projected to report quarterly earnings at $0.85 per share on revenue of $52.81 million.
&bull; Omnicom Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMC#NYSE">OMC</a>) is likely to report quarterly earnings at $1.54 per share on revenue of $3.62 billion.
&bull; JB Hunt Transport Servs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBHT#NASDAQ">JBHT</a>) is estimated to report quarterly earnings at $1.59 per share on revenue of $3.16 billion.
&bull; Hancock Whitney (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HWC#NASDAQ">HWC</a>) is likely to report quarterly earnings at $1.18 per share on revenue of $357.17 million.
&bull; America Movil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMX#NYSE">AMX</a>) is projected to report quarterly earnings at $0.35 per share on revenue of $11.98 billion.
&bull; United Airlines Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) is likely to report quarterly loss at $0.56 per share on revenue of $12.43 billion.
&bull; Fulton Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FULT#NASDAQ">FULT</a>) is estimated to report quarterly earnings at $0.38 per share on revenue of $208.99 million.
&bull; Interactive Brokers Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBKR#NASDAQ">IBKR</a>) is projected to report quarterly earnings at $1.60 per share on revenue of $1.18 billion.
&bull; Ontrak (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OTRK#NASDAQ">OTRK</a>) is projected to report earnings for its fourth quarter.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

Earnings

CBSH

CXAI

EQBK

ERIC

FULT

GAME

IBKR

JBHT

MBWM

NTRS

OTRK

SGBX

TRAW

XELB

Earnings Scheduled For April 16, 2024

Guggenheim analyst Michael Morris maintains Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) with a Buy and raises the price target from $600 to $700.

Price Target

Analyst Ratings

NFLX

Guggenheim Maintains Buy on Netflix, Raises Price Target to $700

WIIM

Bank Of America shares are trading lower following Q1 financial results.

JonesTrading analyst Soumit Roy initiates coverage on Janux Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JANX#NASDAQ">JANX</a>) with a Buy rating and announces Price Target of $70.

Initiation

JANX

JonesTrading Initiates Coverage On Janux Therapeutics with Buy Rating, Announces Price Target of $70

Tech

General

APPN

TIXT

TELUS International And Appian Expand Strategic Partnership To Help Simplify Complex Business Processes Through Low-Code Automation Platform

TD Cowen analyst Boris Peaker downgrades Alpine Immune Sciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALPN#NASDAQ">ALPN</a>) from Buy to Hold.

Downgrades

ALPN

TD Cowen Downgrades Alpine Immune Sciences to Hold

A strategist from State Street has warned that the U.S. economy could face turbulence in 2025 if the Federal Reserve does not act on interest rates soon.
What Happened: Altaf Kassam, the head of investment strategy in EMEA for State Street, expressed his concerns on Tuesday, stating that traditional monetary policy mechanisms have &#8220;broken.&#8221; He <a href="https://www.cnbc.com/2024/04/16/us-economy-will-see-more-things-break-in-2025-if-rates-stay-high-strategist.html">explained</a> to CNBC&#8217;s &#8220;Squawk Box Europe&#8221; that any changes made by the Fed would take longer to impact the real economy, potentially delaying significant shocks.
Kassam attributed this shift to two factors. Firstly, U.S. consumers, whose largest liability is usually their mortgage, secured these on a long-term, fixed-rate basis during the low-interest rate period of the Covid-19 era. Similarly, U.S. companies largely refinanced their debts at lower rates at the same time.
The effect of sustained higher interest rates may not be felt until further down the line when they come to refinance. &#8220;The problem is, if rates stay at this level until say 2025, when a big wall of refinancing is due, then I think we will start to see more things break,&#8221; Kassam said.
See Also: <a href="https://www.benzinga.com/economics/macro-economic-events/24/04/38247125/retail-sales-rises-more-than-expected-in-march-indicate-strong-consumer-spending?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Retail Sales Rises More Than Expected In March, Indicate Strong Consumer Spending</a>
Expectations of near-term Fed rate cuts have recently faded due to persistent inflation data and hawkish commentary from policymakers. However, Kassam stated that State Street&#8217;s expectations of a June Fed rate cut had not changed.
Why It Matters: The U.S. economy has been a topic of debate among experts. In February, Goldman Sachs CEO David Solomon <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37388033/goldman-sachs-ceo-cautions-on-overconfidence-in-us-economys-soft-landing-hard-for-m">cautioned against overconfidence</a> in the Federal Reserve's capacity to orchestrate a "soft landing" for the economy amid inflationary pressure and geopolitical risks.
In March, JPMorgan CEO Jamie Dimon <a href="https://www.benzinga.com/news/24/03/37604762/us-economy-kind-of-booming-says-jpmorgan-ceo-jamie-dimon-but-recession-still-a-possibility">acknowledged the strength</a> of the U.S. economy but cautioned that a recession is still a possibility.
In April, analyst Gordon Johnson took <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38155269/jerome-powell-is-the-gaslighter-in-chief-analyst-slams-fed-chief-for-reckless-money">aim at Federal Reserve Chairman</a> Jerome Powell, citing the Fed&#8217;s inability to rein in the fiscal deficit. 
Meanwhile, CNBC&#8217;s &#8216;Mad Money&#8217; host Jim Cramer cautioned investors against expecting <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38179803/jim-cramer-weighs-in-on-feds-interest-rate-cut-plans-dont-hold-your-breath-this-eco">immediate rate cuts</a> from the Federal Reserve, highlighting the robustness of the economy.
Read Next: <a href="https://www.benzinga.com/economics/macro-economic-events/24/04/38225729/vix-rockets-25-on-most-volatile-session-in-2-years-oil-rises-as-israel-braces-for?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">VIX Rockets 25% On Most Volatile Session In 2 Years; Oil Rises As Israel Braces For Iranian Attack</a>
Economy illustration via Shutterstock.
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Analyst Color

Global

Economics

Federal Reserve

High-Interest Rates Could Cause 'More Things To Break' In US Economy By 2025, Warns Strategist

Bank of America End Of Period Deposit Balances Increased $23B To $1.95T

Jefferies analyst Glen Santangelo downgrades Hims &amp; Hers Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NYSE">HIMS</a>) from Buy to Hold and lowers the price target from $17 to $15.

Hims & Hers Health, Inc. Class A Common Stock

HIMS

Jefferies Downgrades Hims & Hers Health to Hold, Lowers Price Target to $15

Bank of America Q1 Provision For Credit Losses Of $1.3B, Up From $1.1B In Q4

Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) reported quarterly earnings of $0.83 per share which beat the analyst consensus estimate of $0.77 by 7.79 percent. The company reported quarterly sales of $25.818 billion which beat the analyst consensus estimate of $25.464 billion by 1.39 percent. This is a 2.17 percent decrease over sales of $26.391 billion the same period last year.

Earnings Beats

Bank of America Q1 2024 Adj EPS $0.83 Beats $0.77 Estimate, Sales $25.818B Beat $25.464B Estimate

Net interest income of&nbsp;$3.3 billion&nbsp;decreased&nbsp;$139 million&nbsp;compared to the&nbsp;fourth quarter&nbsp;of 2023, reflecting increased funding costs, lower loan balances and one fewer day in the quarter. Net interest margin was&nbsp;2.57%&nbsp;in the&nbsp;first quarter&nbsp;of 2024, decreasing 9 basis points in comparison with the&nbsp;fourth quarter&nbsp;of 2023, primarily as a result of higher funding costs.
Compared to the&nbsp;first quarter&nbsp;of 2023, net interest income decreased&nbsp;$321 million&nbsp;and net interest margin declined 27 basis points, as the benefit of higher interest-earning asset yields was more than offset by increased funding costs.

PNC Financial Services Q1 Net Interest Income Decreases To $3.264B Compared With $3.585B YoY; Q1 Noninterest Income Totals $1.881B Lower Than $2.018B YoY

Health Care

GMAB

Genmab Reports DARZALEX Q1 Net Sales Of $2.692B

TORONTO,&nbsp;April 16, 2024&nbsp;/CNW/ - TD Bank Group (the &quot;Bank&quot;) announced today that it expects The Charles Schwab Corporation&#39;s (&quot;Schwab&quot;)&nbsp;first quarter&nbsp;earnings to translate into approximately CDN&nbsp;$194 million&nbsp;of reported equity in net income of an investment in Schwab for the Bank&#39;s fiscal 2024&nbsp;second quarter. Excluding acquisition-related charges of approximately CDN&nbsp;$5 million&nbsp;after-tax and amortization of acquired intangibles of approximately CDN&nbsp;$30 million&nbsp;after-tax, adjusted equity in net income of an investment in Schwab will be approximately CDN&nbsp;$229 million.
TD Bank Group will release its&nbsp;second quarter&nbsp;financial results and host an earnings conference call on&nbsp;May 23, 2024. Conference call and audio webcast details will be announced closer to that date.

SCHW

TD Bank Group Expects C$194M Boost From Schwab's Q1 Earnings In Q2 2024, Forecasts C$229M In Adjusted Income

DA Davidson analyst Brent Thielman downgrades Encore Wire (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WIRE#NASDAQ">WIRE</a>) from Buy to Neutral and maintains $295 price target.

WIRE

DA Davidson Downgrades Encore Wire to Neutral, Maintains $295 Price Target

Piper Sandler analyst John Barnidge upgrades CNO Finl Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNO#NYSE">CNO</a>) from Neutral to Overweight and maintains $29 price target.

Upgrades

Piper Sandler Upgrades CNO Finl Group to Overweight, Maintains $29 Price Target

Needham analyst Scott Berg reiterates Sprout Social (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPT#NASDAQ">SPT</a>) with a Buy and maintains $75 price target.

Reiteration

Needham Reiterates Buy on Sprout Social, Maintains $75 Price Target

PNC Finl Servs Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>) reported adjusted quarterly earnings of $3.36 per share which beat the analyst consensus estimate of $3.03 by 10.89 percent. This is a 15.58 percent decrease over earnings of $3.98 per share from the same period last year. The company reported quarterly sales of $5.14 billion which missed the analyst consensus estimate of $5.19 billion by 0.87 percent. This is a 8.17 percent decrease over sales of $5.60 billion the same period last year.

PNC Finl Servs Gr Q1 Adj. EPS $3.36 Beats $3.02 Estimate, Sales $5.14B Miss $5.188B Estimate

Morgan Stanley analyst Mauricio Cepeda initiates coverage on Auna (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AUNA#NYSE">AUNA</a>) with a Overweight rating and announces Price Target of $14.

AUNA

Morgan Stanley Initiates Coverage On Auna with Overweight Rating, Announces Price Target of $14

Biofuel Demand Strengthens The Business Case For U.S. Agribusiness

Global Resources Q3 2023 Review: Macro Headwinds And Outlook

Can Record Global Green Bond Issuance Drive U.S. Market?

First Trust Indxx Global Agriculture ETF declares quarterly distribution of $0.1549

2023, 2024, And The Road Ahead

Resilience Vs. Risk

Resource Sector Considerations For 2024

Goehring & Rozencwajg Q4 2023 Natural Resource Market Commentary

First Trust Indxx Global Agriculture ETF declares $0.0166 dividend

Cryptocurrency ETFs: Opportunities And Risks As The Price Of Bitcoin Climbs

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First Trust Indxx Global Agriculture ETF (NASDAQ:FTAG), Trade Ideas