First Trust BuyWrite Income ETF (NASDAQ: FTHI)

First Trust BuyWrite Income ETF (NASDAQ:FTHI), Quote.Headers.trade-ideas

First Trust BuyWrite Income ETF

Technology

Consumer Cyclical

Healthcare

Financial Services

Consumer Defensive

Energy

Communication Services

Industrials

Real Estate

Basic Materials

Utilities

Other

The fund will pursue its objectives by investing primarily in equity securities listed on U.S. exchanges and by utilizing an option strategy consisting of writing (selling) U.S. exchange-traded covered call options on the Standard & Poors 500 Index (the index). The call options written by the fund will be a laddered portfolio of call options with expirations of less than one year, written at-the-money to slightly out-of-the-money. The fund is non-diversified.

Microsoft Corp

Apple Inc

Nvidia Corp.

Amazon.Com Inc

Meta Platforms, Inc.

Alphabet Inc-cl A

Alphabate, Inc Class C

Berkshire Hathaway, Inc.

Broadcom, Inc., 8.00%

Eli Lilly & Co.

Archer Aviation ACHR

Equities

Large Cap

News

ACHR

FTHI

KOMP

STLA

Stellantis invests $55 million in Archer, following recent flight test milestone. Stellantis has been a strategic partner to Archer since 2020 and an investor since 2021.

Stellantis Strengthens Ties with Archer Aviation, Injects $55M Following Key Milestone

Stellantis Photo by Jonathan Weiss on Shutterstock

Guidance

Movers

Stellantis shares lower premarket on Thursday. The company confirmed 2024 financial guidance and capital return plan of ≥€7.7 billion.

What&#39;s Going On With Chrysler-Parent Stellantis Stock Today?

Government

Regulations

Media

TSLA

Stellantis NV (NYSE: STLA) shifting engineering recruitment to lower-cost countries due to cheaper Chinese EVs and CEO criticism, stock up 38% in last 12 months.

Stellantis Adapts to EV Challenge, Follows Tesla&#39;s Lead by Cutting Costs Through Global Job Shifts

- Reuters Citing Two Security Sources&nbsp;

Macro Notification

General

iShares MSCI Israel Capped Investable Market Index Fund

ISRA

Top Hezbollah Commander Ibrahim Aqil Killed In Israeli Strike On Beirut's Southern Suburbs

Wells Fargo analyst Donald Fandetti maintains KKR Real Estate Finance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KREF#NYSE">KREF</a>) with a Overweight and raises the price target from $13 to $14.

Price Target

Analyst Ratings

KREF

Wells Fargo Maintains Overweight on KKR Real Estate Finance, Raises Price Target to $14

Truist Securities analyst Brandon King maintains Ameris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABCB#NYSE">ABCB</a>) with a Buy and raises the price target from $69 to $73.

ABCB

Truist Securities Maintains Buy on Ameris, Raises Price Target to $73

Wells Fargo analyst Donald Fandetti maintains Blackstone Mortgage Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BXMT#NYSE">BXMT</a>) with a Overweight and raises the price target from $19 to $22.

BXMT

Wells Fargo Maintains Overweight on Blackstone Mortgage Trust, Raises Price Target to $22

Truist Securities analyst Michael Lewis maintains American Healthcares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AHR#NYSE">AHR</a>) with a Buy and raises the price target from $22 to $27.

Truist Securities Maintains Buy on American Healthcares, Raises Price Target to $27

Wells Fargo analyst Neil Kalton maintains Ameren (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEE#NYSE">AEE</a>) with a Overweight and raises the price target from $91 to $96.

Wells Fargo Maintains Overweight on Ameren, Raises Price Target to $96

Truist Securities analyst Brandon King downgrades Prosperity Bancshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PB#NYSE">PB</a>) from Buy to Hold and lowers the price target from $81 to $79.

Downgrades

Truist Securities Downgrades Prosperity Bancshares to Hold, Lowers Price Target to $79

Rumors

Trading Ideas

Hearing KeyBanc Reports Jerry Jones Could Be Taking Comstock Resources Private Through An All-Out Buyout

Wells Fargo analyst Ike Boruchow maintains Nike (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) with a Overweight and raises the price target from $86 to $95.

Wells Fargo Maintains Overweight on Nike, Raises Price Target to $95

In a significant trading blunder, BitMEX co-founder Arthur Hayes has sold 350,000 Pendle (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PENDLE</a>) tokens worth approximately $1.26 million just three months after he acquired a larger position in the token, realizing a $790,000 loss.
What Happened: According to <a href="https://x.com/lookonchain/status/1837017238873751916">data </a>from blockchain analytics platform Lookonchain, he had originally purchased 392,911 tokens for $2.2 million between May and June at an average price of $5.6 per token.
This recent sale comes after the value of the Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) based token dropped by over 40%, marking a sharp 36% decline in his investment.
The crypto research firm Lookonchain revealed the details of Hayes' transactions, and the sale has sparked debate regarding <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39245578/arthur-hayes-outlines-crypto-trading-strategies-for-2024-bull-market-its-pretty-sim">his trading prowess</a>.
Hayes has been vocal about his bullish views on the cryptocurrency market, especially Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).
Earlier this year, Hayes had confidently projected that Bitcoin could hit <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40377612/arthur-hayes-predicts-100-000-for-bitcoin-due-to-us-treasury-actions">a price of $1 million</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40955750/bitcoins-correction-ends-but-it-has-to-break-this-target-to-surge-to-70k-10x-research">Bitcoin&#8217;s Correction Ends, But It Has To Break This Target To Surge To $70K: 10x Research</a>
Why It Matters: In an interview with Anthony Pompliano, Hayes expressed his belief that the global macroeconomic environment is driving the demand for Bitcoin, stating, &#8220;The macro environment is insane. Real yields&#8230;have been negative and have been negative since the global financial crisis.&#8221;
He went on to stress how Bitcoin&#8217;s appeal continues to grow as an alternative asset, particularly in the face of inflation and <a href="https://feeds2.benzinga.com/markets/cryptocurrency/24/03/37829202/bitcoin-to-1m-insane-macro-will-make-it-happen-says-arthur-hayes-its-time-to-even-add-more">rising government debt.</a> 
He recently discussed the implications of the U.S. <a href="https://feeds2.benzinga.com/markets/cryptocurrency/24/03/37829202/bitcoin-to-1m-insane-macro-will-make-it-happen-says-arthur-hayes-its-time-to-even-add-more">Federal Reserve&#8217;s rate cuts</a> and their influence on the cryptocurrency market. 
&#8220;The first few rate cuts historically sparked Bitcoin rallies lasting 1-2 weeks,&#8221; Hayes said. 
However, he warned that long-term trends could be influenced by broader economic data, suggesting that the rally may not be sustainable without further monetary support.
Hayes had previously lauded the introduction of <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40937057/bitcoin-ethereum-etfs-see-over-50m-net-outflows-despite-feds-50-bps-rate-cut">Bitcoin ETFs</a>, saying, &#8220;Now all the banks have a way to give these bond investors something else to buy,&#8221; highlighting how institutional involvement could further drive Bitcoin's value.
Given Hayes&#8217; influence and his recent trading moves, his role in shaping the future of digital assets will likely be a focal point of discussions at Benzinga's <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40945847/donald-trump-now-trails-kamala-harris-by-4-points-after-9-point-election-odds-turnaround-i">Donald Trump Now Trails Kamala Harris By 4 Points After 9-Point Election Odds Turnaround In Only 9 Days</a></li>
</ul>
Image: Shutterstock

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

Cryptocurrency

$BTC

$ETH

$PENDLE

Oops! Arthur Hayes Realizes $790,000 Loss On This Ethereum-Based Altcoin

Truist Securities analyst Brandon King upgrades BOK Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BOKF#NASDAQ">BOKF</a>) from Hold to Buy and raises the price target from $112 to $123.

Upgrades

BOKF

Truist Securities Upgrades BOK Financial to Buy, Raises Price Target to $123

The EV landscape is heating up, and three key players — Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Nio Inc &#8211; ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) and XPeng Inc &#8211; ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) — are battling for dominance. But who's <a href="https://www.benzinga.com/electric-vehicles">winning the race</a>?
<h1 class="wp-block-heading">Tesla: The Global Titan</h1>
Tesla has been in the driver&#8217;s seat for years, and despite its stock being down 7.11% in the past year, it&#8217;s making bullish moves. Elon Musk's ambitious robotaxi plans could reshape urban transport, posing a threat to Uber Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) and Lyft Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>).
Add to that a more affordable Tesla vehicle on the horizon, and the company is positioning itself to fend off Chinese competitors like BYD Co Ltd (OTCPK:BYDDF).
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="631" height="458" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20071208/Screenshot-2024-09-20-at-4.41.52-PM.png" alt="" class="wp-image-558073" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20071208/Screenshot-2024-09-20-at-4.41.52-PM.png 631w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20071208/Screenshot-2024-09-20-at-4.41.52-PM-300x218.png 300w" sizes="(max-width: 631px) 100vw, 631px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092024&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
Technically, Tesla's in a sweet spot. The stock's trading at $243.92, comfortably above key moving averages such as the 20-day SMA of $220.34.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="670" height="519" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20071301/Screenshot-2024-09-20-at-4.25.57-PM.png" alt="" class="wp-image-558074" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20071301/Screenshot-2024-09-20-at-4.25.57-PM.png 670w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20071301/Screenshot-2024-09-20-at-4.25.57-PM-300x232.png 300w" sizes="(max-width: 670px) 100vw, 670px" /></figure>
Source: <a href="https://www.benzinga.com/report/TSLA">Benzinga Report &#8211; TSLA</a>
With analysts giving a 12-month price target range of $22.86 to $310, Tesla's future looks volatile but full of upside potential.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40932786/tesla-bull-explains-why-elon-musks-xai-is-critical-to-ev-makers-autonomous-ambition">Tesla Bull Explains Why Elon Musk&#8217;s xAI Is Critical To EV Maker&#8217;s Autonomous Ambitions</a>
<h1 class="wp-block-heading">Nio: The Underdog With Momentum</h1>
Nio has taken a beating, with its stock down a staggering 38.78% over the past year. 
But don't count them out. NIO's strategic partnerships — such as securing batteries from BYD — and the launch of its cheaper ONVO L60 are targeting Tesla's price-sensitive consumers. The L60, priced below Tesla's Model Y in China, could be a game changer.
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="631" height="458" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20071413/Screenshot-2024-09-20-at-4.42.15-PM.png" alt="" class="wp-image-558075" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20071413/Screenshot-2024-09-20-at-4.42.15-PM.png 631w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20071413/Screenshot-2024-09-20-at-4.42.15-PM-300x218.png 300w" sizes="(max-width: 631px) 100vw, 631px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092024&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
On the technical front, Nio's stock is currently trading at $5.40, above its 50-day SMA of $4.42, signaling buying pressure.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="670" height="519" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20071444/Screenshot-2024-09-20-at-4.29.33-PM.png" alt="" class="wp-image-558076" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20071444/Screenshot-2024-09-20-at-4.29.33-PM.png 670w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20071444/Screenshot-2024-09-20-at-4.29.33-PM-300x232.png 300w" sizes="(max-width: 670px) 100vw, 670px" /></figure>
Source: <a href="https://www.benzinga.com/report/NIO">Benzinga Report &#8211; NIO</a>
With an estimated 37.53% upside potential, Nio might be down, but it's far from out.
<h1 class="wp-block-heading">XPeng: The Dark Horse</h1>
XPeng's stock has also struggled, down 42.57% year over year, but its progress is undeniable.
From rolling out its 500,000th vehicle to eyeing European markets with participation in the Paris Motor Show, XPeng is playing the long game.
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="631" height="458" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20071938/Screenshot-2024-09-20-at-4.42.25-PM.png" alt="" class="wp-image-558090" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20071938/Screenshot-2024-09-20-at-4.42.25-PM.png 631w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20071938/Screenshot-2024-09-20-at-4.42.25-PM-300x218.png 300w" sizes="(max-width: 631px) 100vw, 631px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092024&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
Technically, the stock is trading at $9.39, above its 20-day SMA of $8.34, flashing bullish signals. 
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="670" height="519" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20071944/Screenshot-2024-09-20-at-4.27.21-PM.png" alt="" class="wp-image-558091" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20071944/Screenshot-2024-09-20-at-4.27.21-PM.png 670w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20071944/Screenshot-2024-09-20-at-4.27.21-PM-300x232.png 300w" sizes="(max-width: 670px) 100vw, 670px" /></figure>
Source: <a href="https://www.benzinga.com/report/TSLA">Benzinga Report &#8211; XPEV</a>
Analysts predict up to a 10.47% price increase, making it a slower burn as compared to its rivals.
<h1 class="wp-block-heading">The Verdict</h1>
Tesla leads with innovation and market dominance, but Nio and XPeng are closing the gap, especially in the price-sensitive Chinese market.
Keep an eye on the underdogs!
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/entertainment/24/09/40926236/kim-kardashian-debuts-custom-metallic-silver-cybertruck-will-elon-musk-approve-the-celebrit">Kim Kardashian Debuts Custom Metallic Silver Cybertruck: Will Elon Musk Approve The Celebrity Makeover?</a></li>
</ul>
Photos: Tesla Model S, courtesy Tesla; Nio ES6, courtesy Nio; XPeng P7, courtesy XPeng

Analyst Color

Long Ideas

Technicals

Global

Tech

BYDDF

LYFT

UBER

XPEV

Tesla Vs. NIO Vs. XPeng: Will Robotaxis — Or Price Wars — Win The EV Battle?

Rent or mortgage payments are often the biggest monthly expenses in an individual&#8217;s life. One young homeowner found a way to flip her house payments into a source of <a href="https://www.benzinga.com/news/23/03/31180793/this-diyer-built-a-17k-tiny-home-that-generates-50k-a-year-now-he-works-just-2-hours-a-week">passive income</a>.
What To Know: CNBC contributor Precious Price, 26, built a luxury tiny home in her backyard for around $35,000 so she could free up her main house for rentals. Now she essentially gets paid to live out back.
&#8220;As I stared out the kitchen window into my huge backyard, something clicked: I could use that space to build a tiny home to live in, and fully rent out the main house,&#8221; Price&nbsp;<a href="https://www.cnbc.com/2023/02/25/26-year-lives-for-free-in-luxury-tiny-home-she-built-for-35000-in-her-backyard-look-inside.html">wrote</a>.
In 2019, Price bought a 1,400-square-foot house in Georgia for just under $200,000. She got started by listing spare rooms on&nbsp;Airbnb Inc&nbsp;(NASDAQ:&nbsp;<a href="https://www.benzinga.com/stock/abnb#NASDAQ">ABNB</a>) to generate extra income, but when the pandemic hit, the amount of people looking to share living quarters dried up.
That&#8217;s when she got the idea to build the tiny home in her backyard. She actually purchased a shed and hired contractors to build&nbsp;it out into a home, which helped to simplify the process. She paid off the entire cost of the build in less than two years.
Check This Out: <a href="https://www.benzinga.com/news/24/09/40779967/diyer-builds-tiny-home-for-17k-that-brings-in-50k-a-year-in-almost-completely-passive-income#google_vignette">DIYer Builds Tiny Home For $17K That Brings In $50K A Year In &#8216;Almost Completely Passive&#8217; Income</a>
Price considers the 296-square-foot backyard house a &#8220;<a href="https://www.benzinga.com/living/best-luxury-house-plans/">luxury tiny home</a>&#8221; and she&#8217;s profiting from the build. She spends $1,580 per month on her mortgage, property taxes and utility bills, but she generates $2,725 per month by renting out the main house. That leaves her with close to $1,150 profit on a monthly basis, which means she&#8217;s getting paid close to $14,000 a year to live in her own backyard. 
There are some drawbacks. She&#8217;s had to downsize her wardrobe and cut back on hosting get-togethers, but it&#8217;s well worth it, she says. She&#8217;s even planning to add a guest suite to the main home to be able to offer more rental options.
&#8220;It's amazing what you can do with a bit of backyard space,&#8221; Price wrote.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40799247/he-quit-his-full-time-web-developer-job-to-start-a-t-shirt-side-hustle-now-he-earns-175k-a-year-work">He Quit His Full-Time Web Developer Job To Start A T-Shirt Side Hustle — Now He Earns $175K A Year Working Just 1 Hour A Day</a></li>
</ul>
This illustration was generated using artificial intelligence via MidJourney.
This story is part of a new series of features on the subject of success, Benzinga Inspire. Some elements of this story were previously reported by Benzinga and it has been updated.

Success Stories

ABNB

Young Homeowner Profits $14K Per Year Living In A 'Luxury' Tiny Home In Her Own Backyard: 'It's Amazing'

On Thursday, the FDA approved Elanco Animal Health Incorporated&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELAN#NYSE">ELAN</a>) Zenrelia, a once-daily oral JAK inhibitor for the control of pruritus (itching) associated with allergic dermatitis and atopic dermatitis in dogs at least <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n40946416/elanco-announces-fda-approval-and-launch-of-zenrelia-ilunocitinib-tablets-offering-an-effective-sa" rel="noreferrer noopener">12 months of age</a>.
Approximately 17 million dogs suffer from allergic skin disease, including atopic dermatitis, food allergies, or flea sensitivity.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39530951/elanco-animal-health-shares-sink-on-unexpected-label-update-for-canine-dermatology-" rel="noreferrer noopener">Elanco Animal Health Shares Sink On Unexpected Label Update For Canine Dermatology Drug</a>.
Elanco conducted a head-to-head noninferiority study comparing the efficacy and safety of Zenrelia and Apoquel for submission in the European Union.
A study of 338 client-owned dogs with confirmed atopic dermatitis was conducted.
The study shows one daily dose of Zenrelia is at least as effective as the market incumbent JAK inhibitor at the primary endpoint on Day 28.
<ul>
<li>Zenrelia provided consistently greater relief from itch and skin lesions over time, with once-daily dosing from the start, while rebound itch was observed in Zoetis Inc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>) Apoquel (oclacitinib)-treated dogs after dosing decreased to once daily after Day 14.</li>
<li>77% of Zenrelia-treated dogs achieved clinical remission of itch, compared to 53% of Apoquel-treated dogs.</li>
</ul>
William Blair highlights that Zenrelia&#8217;s label includes a warning advising discontinuation 28 days to 3 months before any vaccination. This raises concerns about whether veterinarians will readily adopt the new skin product, given the extra precautions needed, especially considering some dogs receive vaccines as frequently as once a year.
In reviewing the clinical data, it was noted that the placebo effect in Zenrelia&#8217;s FDA study was significantly higher than in Apoquel&#8217;s, suggesting that Apoquel&#8217;s actual impact on atopic dermatitis may be more robust than Zenrelia&#8217;s.
This raises doubts about Zenrelia&#8217;s true efficacy in comparison. Additionally, William points out that adverse events, such as diarrhea and vomiting, occurred at twice the rate in Zenrelia&#8217;s FDA study than in Apoquel&#8217;s.
The analyst notes that investor expectations for Zenrelia over the next two years are already elevated. However, due to lingering uncertainties, William prefers to wait for concrete execution before assessing if it can sustainably impact the P&amp;L statement. The analyst maintained the <a href="https://www.benzinga.com/quote/ELAN/analyst-ratings" target="_blank" rel="noreferrer noopener">Market Perform rating.</a>
Price Action: ELAN stock traded lower by 4.18% at $14.44 at the last check Friday.
Image via Unsplash
Read Next:
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<li><a href="https://www.benzinga.com/news/24/09/40946183/disney-strikes-first-look-deal-with-spider-man-director-jon-watts-report" target="_blank" rel="noreferrer noopener">Disney Strikes First-Look Deal With Spider-Man Director Jon Watts: Report</a>.</li>
</ul>

Health Care

Reiteration

ELAN

Elanco's Dermatology Treatment Secures FDA Approval For Itchy Dogs, Analyst Highlights Label Warnings And Efficacy

On Thursday after market close, FedEx Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fdx#NYSE">FDX</a>) issued its first quarter results as it undergoes a significant transformation led by CEO Raj Subramaniam. The parcel giant reported a sharp fall in profits due to weak demand for high-margin speedy delivery services and lowered its annual revenue forecast. With customers trading down to economy delivery services, FedEx share price tanked 11% upon the report during late trading as the latest results show how bumpy and messy transformations get, also dragging down the shares of its rival, United Parcel Service Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ups#NYSE">UPS</a>) by 2.5%.
First quarter results hurt&nbsp;by weaker-than-expected demand, particularly in the U.S. domestic package market.
Fiscal first quarter results were negatively affected by a change in service preferences, with reduced demand for priority services, increased demand for deferred services and constrained yield growth. The consumer shift towards&nbsp;cheaper delivery options&nbsp;is also affecting United Parcel Service.&nbsp;But UPS blamed squeezed profits on flood of volume from China-linked e-commerce players&nbsp;such as Temu and Shein, while FedEx focused more on lowered priority shipments between businesses.&nbsp;
With stagnant revenue of $21.6 billion, adjusted profit fell to $3.60 per share, down from $4.55 per share earned during last year&rsquo;s comparable quarter.
Cost cuts failed to offset the weak demand for lucrative priority services, in addition to one fewer operating day during the quarter.
<h3>A Cut Outlook For The Fiscal Year</h3>
While it previously expected a low-to-mid-digit revenue increase, FedEx now guided for revenue growth in low-single-digit percentages. With a challenged macroeconomic environment and competitive pricing, FedEx also narrowed down its previously given adjusted earnings per share range that was from $20 to $22 to $20 and $21 per share.&nbsp;
In addition, FedEx also in the process of winding down its contract work for its biggest client, United States Postal Service (USPS). The contract will end on September 29th&nbsp;with that business being picked up by UPS, taking out $500 million from FedEx&rsquo;s current fiscal year revenue. During the latest fiscal year, the unprofitable USPS air contract brought about $1.75 billion in revenue to FedEx.
Complex restructuring provides a long-term&nbsp;glimpse of optimism.
FedEx aims to slash billions of dollars in overhead costs and improve operational efficiencies while merging its separate Ground and Express delivery divisions. During summer, Wall Street Journal reported that transportation experts expect FedEx to consider spinning off its Freight unit. Subramaniam remains optimistic, reaffirming that the company&rsquo;s &ldquo;DRIVE&rdquo; strategy will result in $2.2 billion permanent cost reduction. As J.P. Morgan analyst Brian P. Ossenbeck&nbsp;noted, things should get better if DRIVE-driven savings accelerate throughout the rest of the year and pricing power picks up during the peak season.
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

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