Herc Hldgs (NYSE:HRI) Stock, Quote.Headers.trade-ideas

Herc Hldgs

Herc Holdings is an equipment rental company that was spun out of Hertz Global in 2016. It is currently the third-largest equipment rental company (4% market share) in North America, after United Rentals and Sunbelt Rentals, with a fleet size of $6.4 billion. It serves commercial and residential construction customers, the environmental sector, industrial entities, and entertainment production companies. During much of its 50-year-plus history, the company has rented equipment such as aerial lifts to its customers for intermittent use. More recently, it has broadened its catalog to include a host of specialty items. Separately, Herc Holdings' strategy now incorporates long-term rentals to industrial customers where Herc maintains its own staff at the customer site.

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Herc Holdings achieved a 6% year-on-year sales growth in Q2 FY24, reaching $848 million and exceeding the $832.02 million analyst forecast. However, adjusted EPS fell short at $2.60 against the $2.91 estimate. 

Equipment Rental Firm Herc Posts Mixed Q2 Results As Local Market Growth Slows

As Large-Cap Stocks Take A Breather And The SPY Trades Sideways, Will Small-Cap Stocks Steal The Spotlight?

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Infrastructure Capital Advisors’ InfraCap Small Cap Income ETF (ARCA: SCAP) gapped up about 1% higher on Monday, the second consecutive northernly gap after closing about 0.9% higher on Friday.

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Herc Holdings&#39; Q1 FY24 reported a 9% sales surge to $804 million, surpassing analyst projections. Boosted by a $65 million increase in equipment rental revenue, driven by both favorable pricing and volume growth, the company demonstrates resilience and strategic foresight in navigating market dynamics. 

Why Equipment Rental Firm Herc&#39;s Shares Are Surging Today

Herc Holdings Inc

Horiba Ltd

Benchmark analyst Bruce Jackson reiterates CytoMed Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GDTC#NASDAQ">GDTC</a>) with a Speculative Buy and maintains $5 price target.

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Benchmark Reiterates Speculative Buy on CytoMed Therapeutics, Maintains $5 Price Target

Ladenburg Thalmann analyst Mickey Schlelen downgrades Saratoga Investment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAR#NYSE">SAR</a>) from Buy to Neutral.

Downgrades

Ladenburg Thalmann Downgrades Saratoga Investment to Neutral

CDTA buses now equipped with Gauzy's innovative Smart-Vision&#xAE; camera monitor system (CMS) as part of a multi-year phase-in program to improve road safety &nbsp;
Company estimates that its cumulative sales for its commercial vehicle CMS/ADAS will surpass $100,000,000 by the end of 2025
Broad global interest in ADAS expected to generate new growth opportunities for Gauzy's Safety Tech division
NEW YORK and TEL AVIV, Israel, Oct. 10, 2024 (GLOBE NEWSWIRE) -- <a href="https://www.globenewswire.com/Tracker?data=YbLzQVyqbcBn2yZh1Yr9GgOgB0foJ5x2_ZVbjLFAbKyiusM--ppJqHtdip1G2vRfpprSF764tF4UiGB8XWpIrw==">Gauzy Ltd.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GAUZ#NASDAQ">GAUZ</a>) ("Gauzy" or the "Company"), a global leader in light and vision control technology, is pleased to announce that its advanced driver assistance system (ADAS) has fully replaced traditional side mirrors on the Capital District Transportation Authority (CDTA) of New York's public buses. Gauzy's Smart-Vision&#xAE; camera monitor system (CMS) was unveiled on CDTA's buses at a special ceremony on October 3, 2024, signifying the next phase of CDTA's multi-year phase-in program designed to improve road safety. This milestone demonstrates CDTA's confidence in the technology's ability to optimize visibility by reducing blind spots.
The Smart Vision&#xAE; CMS was installed on the CDTA buses by Luminator Technology Group, who serves as Gauzy's exclusive distribution partner for transit agencies in North America and markets the system as Luminator Video Mirror in the region. Gauzy has been quickly capturing market share across North America, Europe, Asia and Australia as transportation officials have demonstrated heightened interest in ADAS and expediting the necessary regulatory approvals required to install it in public buses and coaches. As a result, Gauzy estimates that its cumulative sales for its commercial vehicle CMS/ADAS will surpass $100 million by the end of 2025.

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GAUZ

Gauzy's Advanced Driver Assistance System Fully Replaces Traditional Side Mirrors On Capital District Transportation Authority Of New York's Public Buses; Company Estimates That Its Cumulative Sales For Its Commercial Vehicle CMS/ADAS Will Surpass $100M By The End Of 2025

Truist Securities analyst Srikripa Devarakonda maintains AbbVie (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) with a Buy and raises the price target from $210 to $215.

ABBV

Truist Securities Maintains Buy on AbbVie, Raises Price Target to $215

<a href="https://www.federalreserve.gov/newsevents/speech/cook20241010a.htm" title="https://www.federalreserve.gov/newsevents/speech/cook20241010a.htm">https://www.federalreserve.gov/newsevents/speech/cook20241010a.htm</a>

Federal Reserve

Fed's Cook Does Not Comment On Economic Or Monetary Policy Outlook In Prepared Remarks At Event In South Carolina

Seaport Global analyst Daniel Mckenzie downgrades Azul (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZUL#NYSE">AZUL</a>) from Buy to Neutral.

AZUL

Seaport Global Downgrades Azul to Neutral

In a <a href="https://www.youtube.com/live/AD5Y9IMENys?si=ZhokQrUut17hwCrh&amp;t=2686">recent episode</a> of The Ramsey Show, <a href="https://www.benzinga.com/personal-finance/24/10/41213012/dave-ramseys-bold-plan-to-fight-inflation-could-his-radical-approach-help-you-keep-more-cash-in-">Dave Ramsey</a> responded to a caller, Daniel from Houston, who asked if his aggressive investment plan was too extreme.&nbsp;
Daniel and his wife, both recent college graduates, earn a $200,000 household income with a take-home pay of $145,000 after deductions. They live in an apartment and have zero debt, a six-month emergency fund, and a goal of having Daniel's wife become a stay-at-home mother. Daniel asked Dave Ramsey whether they were going overboard by investing 60% of their take-home pay while <a href="https://www.benzinga.com/personal-finance/24/10/41196513/more-expenses-more-taxes-more-everything-suze-orman-on-the-risks-of-upgrading-to-a-swanky-apartm">living in an apartment</a>.
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Ramsey's advice was rooted in the long-term wealth-building habits he's studied over the years. While Daniel's diligence in budgeting and saving is admirable, Ramsey pointed out that the plan has a critical flaw: housing. According to Ramsey, living in an apartment means subjecting yourself to increasing rent year after year, which could erode the benefits of investing so heavily.
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Ramsey explained that very few of the <a href="https://www.benzinga.com/personal-finance/24/10/41146426/can-you-guess-the-top-5-careers-of-millionaires-according-to-dave-ramsey-spoiler-alert-theyre-no">millionaires</a> he's studied followed a path that involved renting long-term while investing aggressively. Instead, most bought homes and focused on paying them off. By owning a home, Daniel and his wife could stabilize their largest budget item – housing – and eventually eliminate it. "Your largest item is out of your control, and it's going up every year," Ramsey warned, highlighting the need to move away from renting as soon as possible.
The logic behind Ramsey's advice is simple: homeownership locks in a fixed cost for housing, whereas rent will continually rise. Over 15 years, paying off a house can lead to a significant net worth boost, Ramsey explained, with much of that wealth tied to both the home and the couple's retirement accounts.
Trending: Commercial real estate has historically outperformed the stock market, and<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!</a>
<a href="https://www.benzinga.com/personal-finance/24/10/41165091/37-year-old-millionaire-confesses-hes-miserable-and-lacks-purpose-ramsey-host-tells-him-we-dont-">Ken Coleman</a>, who co-hosted the show with Ramsey, added another perspective. He emphasized that while Daniel might be comfortable living frugally in an apartment, his wife might not feel the same way in the long run.&nbsp;
"She's going to want a house," Coleman said, urging Daniel to think ahead. Ramsey echoed this, pointing out that while Daniel's intense savings plan was admirable, it needed to be aligned with a broader, more balanced approach to wealth-building, including homeownership.
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Ramsey's overall advice to Daniel was to scale back the extreme savings strategy. Instead of investing 60% of their income, Ramsey suggested sticking to a 15% retirement savings goal while they work toward owning a home. He also advised the couple to stop funding their HSA (health savings account) for now and focus on building a down payment for a house. Ramsey noted that Daniel would likely see substantial home appreciation over the years, contributing to long-term wealth.
Other experts also state that buying a home is a smart investment strategy – not just for those looking to amp up a real estate portfolio but for the average homeowner.&nbsp;
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"It's hard to argue against the long-term financial value of homeownership," Martin Orefice, CEO of Rent To Own Labs, told Bankrate. "Real estate usually appreciates over time in the long run. While there are economic boom and bust cycles that can make real estate a losing investment in the short run, over 10 years or longer, buyers will usually come out ahead."
Investing aggressively can be a good thing, but many financial experts say owning a home is a good step to take to build wealth. Renting may offer short-term flexibility, but the long-term financial advantage lies in stabilizing your housing costs by buying a home and eventually paying it off. By following a balanced plan of moderate investing and saving for a home, Daniel and his wife will be well-positioned for financial success.
If you're unsure about your financial plan, consider speaking with a <a href="https://www.benzinga.com/money/best-online-financial-advisors">financial advisor</a> to ensure your strategy is aligned with your long-term goals.
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Personal Finance

Living in an Apartment And Investing 60% – Is It A Smart Plan? Dave Ramsey's Response To Houston Grads

Toronto Dominion Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TD#NYSE">TD</a>) is reportedly preparing to settle charges related to its alleged failure to monitor money laundering by drug cartels, the Wall Street Journal said in an <a target="_blank" href="https://www.wsj.com/finance/regulation/td-bank-faces-3-billion-in-penalties-and-growth-restrictions-in-u-s-settlement-3e09a705" rel="noreferrer noopener">exclusive report</a>.
The Canadian bank is expected to pay approximately $3 billion in penalties and face restrictions on its U.S. growth.
Under the expected agreement, TD Bank&#8217;s U.S. entity will likely plead guilty to criminal charges stemming from a DOJ investigation.
This settlement could be announced as early as today and involves multiple agencies, including the U.S. Department of Justice (DOJ), the Office of the Comptroller of the Currency (OCC), the Financial Crimes Enforcement Network (FinCEN), and the Federal Reserve.
According to the WSJ report, the DOJ and FinCEN are set to impose independent monitors to oversee the bank&#8217;s compliance with anti-money-laundering regulations. The FinCEN monitor will reportedly remain in place for four years.
The penalties will be divided between the DOJ and FinCEN, with the DOJ receiving $1.8 billion and FinCEN receiving $1.3 billion.
The bank has acknowledged the severity of its AML deficiencies, with outgoing CEO Bharat Masrani stating that resolving these <a target="_blank" href="https://www.benzinga.com/news/24/09/40941233/whats-going-on-with-toronto-dominion-bank-today" rel="noreferrer noopener">issues is a top priority</a>.
Masrani, who announced his decision to step down as CEO later this year, has been at the forefront of TD&#8217;s efforts to address regulatory concerns. In August, the bank set aside an additional $2.6 billion in anticipation of the settlement costs.
TD Bank is due to host a <a target="_blank" href="https://www.benzinga.com//node/41267914" rel="noreferrer noopener">conference call today</a>.
The case has had significant consequences for TD, including halting its $13.4 billion acquisition of First Horizon Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FHN#NYSE">FHN</a>) due to U.S. regulators&#8217; concerns over the bank&#8217;s anti-money-laundering capabilities.
The companies terminated the merger agreement in May 2023, which was announced initially in February 2022. TD paid First Horizon a $200 million cash payment and the $25 million fee reimbursement due to First Horizon under the merger agreement.&nbsp;
The OCC will impose an asset cap on TD&#8217;s U.S. business, similar to the restrictions imposed on Wells Fargo Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) in 2018 after its fake account scandal, the report highlighted.
The investigation into TD Bank intensified when federal authorities discovered that a Chinese criminal group had laundered millions of dollars from fentanyl sales through TD&#8217;s branches in New York and New Jersey, bribing bank employees in the process.
This incident, among others, has forced TD to overhaul its internal controls and strengthen its AML and investigations teams with new hires.
Price Action: At last check on Thursday, TD stock was down 4.74% at $60.50 during the premarket session.
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Photo by JHVEPhoto via Shutterstock

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TD Bank To Face $3B Penalty, Growth Limits In US Settlement Over Anti-Money Laundering Failures

Benchmark analyst Mark Zgutowicz reiterates Criteo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRTO#NASDAQ">CRTO</a>) with a Buy and maintains $56 price target.

CRTO

Benchmark Reiterates Buy on Criteo, Maintains $56 Price Target

JP Morgan analyst Stephen Tusa downgrades Hubbell (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUBB#NYSE">HUBB</a>) from Overweight to Neutral and raises the price target from $385 to $454.

HUBB

JP Morgan Downgrades Hubbell to Neutral, Raises Price Target to $454

Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA" or the "Company") (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FMX#NYSE">FMX</a>, BMV:<a class="ticker" href="https://www.benzinga.com/stock/FEMSAUBD#BMV">FEMSAUBD</a>, FEMSAUB)))) announced it has reached a definitive agreement with Grupo Traxión, S.A.B. de C.V (BMV:<a class="ticker" href="https://www.benzinga.com/stock/TRAXIONA#BMV">TRAXIONA</a>), a leading transportation and logistics company based in Mexico, to divest certain of FEMSA's logistics operations doing business as Solistica. The transaction includes FEMSA's transportation management operations in Mexico, as well as its contract logistics operations in Mexico, Colombia and Brazil. The transaction does not include FEMSA's LTL (less-than-truckload) operations in Brazil. &nbsp;
Total consideration for this transaction will be of approximately $4,060 million Mexican pesos, on a cash-free, debt-free basis.
This transaction represents an additional step in the continued execution of the FEMSA Forward plan that was communicated in February of 2023. The transaction is subject to regulatory approvals and other customary conditions and is expected to close in the following months.

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BMV:FEMSAUBD

BMV:TRAXIONA

Fomento Economico Mexicano S.A.B. De C.V.

FEMSA Announces Agreement With TRAXIÓN To Divest Certain Of FEMSA's Logistics Operations; Total Consideration For This Transaction Will Be Of ~4.06 Billion Mexican Pesos, On A Cash-Free, Debt-Free Basis.

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Data from <a href="https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment">https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment</a>
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Editor&#8217;s note: This story has been updated with additional details. 
The U.S. inflation rate extended its decline in September for the sixth consecutive month, though the pace was slower than economists had anticipated, and core inflation saw an <a href="https://www.benzinga.com/topic/economics">unexpected rise</a>.
At the same time, the latest jobless claims report revealed the largest weekly increase since July 2023, signaling a setback for the labor market following strong September data and adding complexity to the outlook for interest rates.
Prior to these releases, market expectations pointed to a 76% chance of a 25-basis-point interest rate cut at the Federal Reserve&#8217;s November meeting, with the remaining odds suggesting the Fed would maintain the federal funds rate at 4.75%-5%, according to CME FedWatch.
<h3 class="wp-block-heading">September CPI Inflation Report: Key Highlights</h3>
<ul>
<li>Headline CPI inflation fell from 2.5% in August to 2.4% in September 2024 on a year-over-year basis, missing a consensus forecast of 2.3% as tracked by TradingEconomics.</li>
<li>On a monthly basis, inflation inched up by 0.2% in September, matching August&#8217;s print but exceeding estimates of 0.1% </li>
<li>Core inflation, which excludes volatile energy and food items, unexpectedly rose to 3.3% year-over-year in September, surpassing forecasts of 3.2%.</li>
<li>On a monthly basis, core inflation rose by 0.3%, in line with the previous 0.3% but above estimates of 0.2%. </li>
<li>Items that rose in September include shelter, motor vehicle insurance, medical care, apparel and airline fares.</li>
<li>Recreation and communication were among those that fell over the month.</li>
<li>The shelter index rose by 0.2% in September, while the food index climbed 0.4%. Combined, these two categories accounted for over 75% of the overall monthly CPI increase.</li>
</ul>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Consumer Price Index</th>
<th>September 2024</th>
<th>August 2024</th>
<th>Expected</th>
</tr>
</thead>
<tbody>
<tr>
<td>Headline (y/y)</td>
<td>2.4%</td>
<td>2.5%</td>
<td>2.3%</td>
</tr>
<tr>
<td>Headline (m/m)</td>
<td>0.2%</td>
<td>0.2%</td>
<td>0.1%</td>
</tr>
<tr>
<td>Core (y/y)</td>
<td>3.3%</td>
<td>3.2%</td>
<td>3.2%</td>
</tr>
<tr>
<td>Core (m/m)</td>
<td>0.3%</td>
<td>0.3%</td>
<td>0.2%</td>
</tr>
</tbody>
</table>
</figure>
<ul>
<li>Weekly jobless claims rose by 254,000, up from the previous 225,000 and above the expected 230,000.</li>
<li>Continuing jobless claims soared to 1.861 million, up from the revised 1.819 million and above expectations of 1.83 million. </li>
<li>The four-week average of weekly jobless claims, which helps smooth out week-to-week fluctuations, increased from 224,250 to 231,000.</li>
</ul>
<h3 class="wp-block-heading">Market Reactions</h3>
In the immediate aftermath of the release, traders appeared to prioritize the unexpected rise in jobless claims over the hotter-than-expected CPI data, pushing market-implied odds of a November rate cut to 85%, according to CME Group FedWatch.
The U.S. dollar index (DXY), as tracked by the&nbsp;Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), erased session gains, as Treasury yields cooled. 
Futures on major U.S. indices traded slightly lower during Thursday&#8217;s premarket trading with contracts on the S&amp;P 500 slightly down by 0.2%. The Dow Jones mimicked the broader market move, while futures on the tech-heavy Nasdaq 100 slipped 0.4%. 
Among major asset classes, gold gained 0.7%, on track to snap a seven-day losing streak. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was also up by 0.7%.
On Wednesday, the S&amp;P 500, as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), marked fresh record highs, while the Dow, tracked by the SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>), hit a record close. 
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Broad U.S. Equity ETFs

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Economics

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SPDR Dow Jones Industrial Average ETF Trust

PowerShares DB US Dollar Index Bullish Fund

September Inflation Hotter Than Expected, Jobless Claims Spike The Most In Over A Year, Clouding Fed's Interest Rate Outlook (UPDATED)

Kicking off this fall&rsquo;s consumer-oriented earnings reports, PepsiCo Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pep#NASDAQ">PEP</a>) reported a mixed quarterly report as snacking in North America weakened.&nbsp;
<h3>Fiscal Third Quarter Highlights</h3>
The repercussions of the Quaker Foods North America recalls, softer U.S. demand and business disruptions in international markets dragged down sales that fell 0.6%&nbsp;&nbsp;to&nbsp;$23.32 billion, below LSEG&rsquo;s consensus estimate of&nbsp;$23.76 billion. But taking out&nbsp;acquisitions, divestitures and currency changes, organic revenue grew 1.3%.&nbsp;
Net income attributable to the company amounted to $2.93 billion, or $2.13 per share.&nbsp;Adjusted earnings per share amounted to&nbsp;$2.31, which topped LSEG&rsquo;s estimate of&nbsp;$2.29&nbsp;per share.
Slower than expected recovery of the U.S. consumer.&nbsp;
During the quarter, demand for Pepsi&rsquo;s snacks and drinks weakened. Volume for both the food and beverage divisions contracted by 2%.&nbsp;CFO Jamie Caulfield&nbsp;noted that consumer recovery in the U.S. was slower than anticipated, following CEO Ramon Laguarta&rsquo;s comment from July about a more challenged consumer as Pepsi executives observed changed consumer behavior across all income levels.&nbsp;Quaker Foods North America&nbsp;reported the biggest drop of 13%.
Frito-Lay North America also reported a volume decline of 1.5%. The division&rsquo;s volume is improving sequentially&nbsp;with Pepsi making efforts to offer more value to its consumers.
Volume for Pepsi&rsquo;s North American beverage business fell 3% although brands like Pepsi and Gatorade&nbsp;posted revenue&nbsp;growth in the quarter. Shrinking volume on both food and drink fronts was also the case for Latin America and Africa, Middle East and South Asia&nbsp;markets.
<h3>Outlook</h3>
For the second quarter in a row, PepsiCo lowered its full-year organic sales forecast as it guided for a low-single-digit growth of approximately 4%, down from its prior growth estimate of at least 4%.
Supported by the football season, Pepsi plans to invest more in Doritos and Tostitos over this fall and winter by offering bonus packs and therefore, more value to its consumers.
To appeal to more health-conscious consumers, Pepsi is also broadening its portfolio. Last week, Pepsi revealed it purchased Siete Foods for $1.2 billion, adding Mexican-American food with accommodations for different dietary concerns to its offerings.
All in all, the food and beverage giant surpassed Wall Street estimates with earnings but fell short on revenue, while lowering its full-year outlook for organic revenue. On a brighter note,&nbsp;consequences of the recalls are now diminishing.
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.

PepsiCo's Latest Report Shows Snacking Was Off The Table

Raymond James analyst Danielle Brill reinstates Denali Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DNLI#NASDAQ">DNLI</a>) with a Market Perform.

Initiation

DNLI

Raymond James Reinstates Market Perform on Denali Therapeutics

America's Favorite Electric Scooters Are Now Accessible to &nbsp;Chrysler, Dodge, Fiat Jeep&#xAE; and Ram Dealers Nationwide
ARCADIA, Calif.&nbsp;, Oct. 10, 2024 /PRNewswire/ -- <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4275147-1&amp;h=308608026&amp;u=https%3A%2F%2Fstore.segway.com%2F%3Futm_source%3Dmedia%26utm_medium%3Darticle&amp;a=Segway-Ninebot">Segway-Ninebot</a>, the global leader in the micromobility transportation solutions and robotic service industries, today announces a strategic partnership with <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4275147-1&amp;h=3149634892&amp;u=https%3A%2F%2Fwww.mopar.com%2F&amp;a=Mopar">Mopar</a> the authentic global service, parts and customer care brand for Stellantis vehicles. Through this partnership, select Segway products including its popular electric scooters and GoKart are now available to Mopar's authorized Chrysler, Dodge, Fiat, Jeep&#xAE; and Ram dealers in North America.

STLA

Segway Announces Strategic Partnership With Stellantis Through Mopar Dealer Portal, Electric Scooters Are Now Accessible To Chrysler, Dodge, Fiat Jeep And Ram Dealers Nationwide

Raymond James analyst Danielle Brill reinstates Biomarin Pharmaceutical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMRN#NASDAQ">BMRN</a>) with a Outperform and announces $79 price target.

BMRN

Raymond James Reinstates Outperform on Biomarin Pharmaceutical, Announces $79 Price Target

Analysts and investors are keenly observing <a href="https://www.benzinga.com/earnings">the stock performance</a> of JPMorgan Chase &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) and Wells Fargo &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) ahead of their third-quarter earnings reports on Oct. 11. 
Both banks are showcasing strong technical indicators, but which stock charts a more bullish path?
<h2 class="wp-block-heading">JPMorgan Chase: Strong Bullish Signals</h2>
JPMorgan is expected to report earnings of $4.01 per share on revenues of $41.66 billion. The stock is currently priced at $213.42, slightly above its analyst consensus target price of $207.17. <a href="https://www.benzinga.com/quote/JPM/analyst-ratings">Consensus analysts rating</a> for JPMorgan stock stands at Overweight.
Recent ratings from Oppenheimer, Morgan Stanley, and Deutsche Bank have set an average price target of $229.67, suggesting a potential upside of 7.53%.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent101024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="630" height="456" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/10081503/Screenshot-2024-10-10-at-5.44.05-PM.png" alt="" class="wp-image-589329" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/10081503/Screenshot-2024-10-10-at-5.44.05-PM.png 630w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/10081503/Screenshot-2024-10-10-at-5.44.05-PM-300x217.png 300w" sizes="(max-width: 630px) 100vw, 630px" /></a></figure>
<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent101024&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
Technical analysis paints a positive picture for JPMorgan stock. The share price is comfortably above its eight, 20 and 50-day simple moving averages (SMAs), indicating strong bullish momentum. 
Additionally, with the stock trading above its 200-day simple moving average (SMA) of $195.79, multiple indicators point towards a bullish signal.
<h2 class="wp-block-heading">Wells Fargo: Promising Yet Cautious Outlook</h2>
In comparison, Wall Street expects Wells Fargo to deliver earnings of $1.28 per share and revenues of $20.4 billion. The current share price stands at $57.54, lower than the consensus target of $59.80. <a href="https://www.benzinga.com/quote/wfc/analyst-ratings">Consensus analysts rating</a> for Wells Fargo stock stands at a Neutral.
However, recent ratings from Wolfe Research, Evercore ISI Group, and Morgan Stanley project an average target of $66.67, hinting at a more substantial upside of 15.86%.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent101024&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="630" height="456" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/10081503/Screenshot-2024-10-10-at-5.44.25-PM.png" alt="" class="wp-image-589330" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/10081503/Screenshot-2024-10-10-at-5.44.25-PM.png 630w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/10081503/Screenshot-2024-10-10-at-5.44.25-PM-300x217.png 300w" sizes="(max-width: 630px) 100vw, 630px" /></a></figure>
<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent101024&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
Wells Fargo stock&#8217;s technical indicators are also encouraging. The stock price is comfortably above its eight, 20 and 50-day SMAs, with bullish signals confirmed across these indicators. 
The current price exceeds its 200-day SMA of $55.85, reinforcing the bullish sentiment in the short term.
Read Also: <a href="https://www.benzinga.com/news/earnings/24/10/41270508/how-to-earn-500-a-month-from-wells-fargo-stock-ahead-of-q3-earnings">How To Earn $500 A Month From Wells Fargo Stock Ahead Of Q3 Earnings</a>
<h2 class="wp-block-heading">The Verdict</h2>
Both JPMorgan and Wells Fargo display bullish characteristics in their stock charts. New York-based JPMorgan appears to have a stronger technical edge with better analyst ratings and a higher current stock price relative to its moving averages.
Though consensus price target appears to show more upside with San Francisco-based Wells Fargo.
As both companies prepare to release their earnings, investors will be watching closely to see if these bullish trends translate into positive results.
Indeed, Wells Fargo offers a compelling upside potential. But JPMorgan&#8217;s current strength in both technical and analyst perspectives may position it as the more bullish financial stock ahead of earnings.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/10/41266843/marjorie-taylor-greene-boosts-stock-portfolio-with-ai-exposure-buys-jpmorgan-and-this-hot-magnif">Marjorie Taylor Greene Boosts Stock Portfolio With AI Exposure, Buys JPMorgan And This Hot Magnificent 7 Stock: Here&#8217;re Congresswoman&#8217;s Latest Trades</a></li>
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JPMorgan Vs. Wells Fargo: Which Bank Stock Is More Bullish Ahead Of Q3 Earnings?

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UBS Downgrades Nutrien to Neutral, Lowers Price Target to $51

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