Latest news for Ichigo (OTC:ICHIF) Stock

Ichigo Inc is a Japanese real estate owner and operator, and clean energy producer. It manages several real estate investment trusts and operates solar plants across Japan. REIT opportunities include midsize hotel and office properties. Revenue is generated through fees via the management of the Ichigo REIT and private funds, and other fee-generating real estate services related to sourcing, financing, operation, property management, facility management, and disposition of real estate assets. Additional income is generated through the sale of properties and rental income. Clean Energy services involve the production of mega solar power.

ICHIGO GROUP HOLDINGS CO by Ichigo Group Holdings Co Ltd.

Ichigo Inc

Cantor Fitzgerald analyst Kristen Kluska reiterates Celldex Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLDX#NASDAQ">CLDX</a>) with a Overweight and maintains $67 price target.

News

Price Target

Reiteration

Analyst Ratings

CLDX

Cantor Fitzgerald Reiterates Overweight on Celldex Therapeutics, Maintains $67 Price Target

Truist Securities analyst Brandon King maintains Synovus Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNV#NYSE">SNV</a>) with a Buy and raises the price target from $50 to $52.

Truist Securities Maintains Buy on Synovus Finl, Raises Price Target to $52

Truist Securities analyst Brandon King maintains SouthState (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSB#NYSE">SSB</a>) with a Hold and raises the price target from $109 to $111.

Truist Securities Maintains Hold on SouthState, Raises Price Target to $111

Rivian Automotive Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) shares are trading lower by 7.5% to $12.17 during Friday&#8217;s session. The stock is trading lower as major indexes pull back following <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40944143/wall-street-breaks-records-chipmakers-rally-tesla-hits-2-month-high-as-fed-cut-drives-risk">recent strength</a>.
What Happened This Week: The&nbsp;Federal Reserve&#8217;s&nbsp;unexpected decision Wednesday to cut interest rates by 50 basis points at its September&nbsp;Federal Open Market Committee (FOMC)&nbsp;meeting saw markets Rivian stock and broader markets gain sharply Thursday.
The&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40941053/s-p-500-dow-jones-hit-record-highs-magnificent-7-add-400-billion-after-feds-histori" target="_blank" rel="noreferrer noopener">rate cut</a>&nbsp;lowers the federal funds rate to a range of 4.75% to 5%, marking the first cut in over four years and signaling a more aggressive monetary easing cycle than previously anticipated.
This policy shift has major implications for Rivian, a leading&nbsp;<a href="https://www.benzinga.com/electric-vehicles" target="_blank" rel="noreferrer noopener">electric vehicle (EV)</a>&nbsp;manufacturer, and its investors, who have reasons to be more optimistic about the company&#8217;s financial outlook and growth potential.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40959748/exclusive-options-expert-warns-of-terrible-week-after-fridays-triple-witching">Rivian Introduces $100K Tri Max Variant Of R1S Electric SUV</a>
What Else: Rivian, despite its potential and strong brand in the EV market, remains in its growth phase and has yet to turn a profit. While the Fed's rate cut reduces borrowing costs, investors likely reassessed the company's significant cash burn and longer path to profitability. 
Even with lower interest rates, Rivian still faces steep capital expenditures related to manufacturing expansion, supply chain improvements and R&amp;D, particularly in the competitive EV space.
The Federal Reserve&#8217;s Summary of Economic Projections revealed upward revisions to unemployment rates through 2025, signaling potential economic softness ahead. 
Investors may fear that slower economic growth could dampen consumer demand for higher-priced luxury electric vehicles like Rivian's R1T truck and R1S SUV, creating headwinds for revenue growth despite favorable financing conditions.
EXCLUSIVE: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40959748/exclusive-options-expert-warns-of-terrible-week-after-fridays-triple-witching">Options Expert Warns Of &#8216;Terrible Week&#8217; After Friday&#8217;s Triple Witching</a>
<h2 class="wp-block-heading">Is RIVN A Good Stock To Buy?</h2>
Wall Street analysts view Rivian Automotive on the whole as an Outperform, given the history of coverage over the past three months. Colin Langan from Wells Fargo in Rivian Automotive is the most optimistic, expecting a 80.0% rise in the stock in the coming year.
But looking at how the market as a whole thinks of the stock, you can reference historical price action for views on whether investors feel strongly about the stock one way or another. In the past 3 months, Rivian Automotive rose 19.48%, which indicates that opinion improved on the business and how attractive it is to own based on either its stock price, or underlying fundamentals, like revenue, which rose 3.3% over the past year.
A complete overview of how Wall Street views individual stocks is available <a href="https://www.benzinga.com/analyst-stock-ratings">here</a>, while real time updates on the latest analyst actions will be delivered via <a href="https://pro.benzinga.com">Benzinga PRO</a>. Try it for free.
RIVN has a 52-week high of $24.87 and a 52-week low of $8.26.

RIVN

What's Going On With Rivian (RIVN) Stock?

Columbia Banking System, Inc.&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/colb#NASDAQ">COLB</a>) subsidiary, Umpqua Bank, announced expansion across the Western region with new branches opening in Phoenix, Scottsdale and Mesa by the end of 2024.&nbsp;
This expansion will support the bank&#39;s plan to improve its services across Arizona to cater to the needs of customers.
<h2>COLB&#39;s Subsidiary Strengthens Presence in Arizona</h2>
Arizona has several fast-growing sectors, including semiconductors, leisure and hospitality alternative energy, healthcare, warehouse distribution centers and data centers. It also hosts a growing number of data centers, serving as a foundation for the emerging generative AI industry. This positions the region as an ideal location for the bank&#39;s long-term expansion strategy.
Umpqua Bank has been expanding its presence in Arizona since 2021 by establishing middle-market banking services. In June 2024, the bank opened its first retail branch in Phoenix, which was followed by a second branch in Scottsdale in August.
Umpqua Bank&#39;s CEO, Clint Stein, said, &quot;Arizona is a priority market for Umpqua Bank. The region&#39;s dynamic business community aligns with our long-term strategy of expanding in markets that demonstrate strong growth potential and further our commitment to being the West&#39;s premier bank of choice.&quot;
<h2>Additional Expansion Efforts by COLB&#39;s Subsidiary</h2>
In addition to its Arizona expansion, Umpqua Bank has been actively broadening its footprint in other regions through several key initiatives. On Sept. 5, 2024, the bank announced the hiring of six experienced bankers to enhance and broaden its services for small and midsize wineries across Northern California. This strategic move is part of the bank&#39;s ongoing efforts to grow its North Coast Wine Specialty Group.
In October 2023, Umpqua Bank opened its first retail branch in Utah to further advance its expansion strategy across the western region of the United States. This new branch in Salt Lake County supports the banking and deposit needs of local consumers and businesses.
<h2>Conclusion</h2>
Given these expansion efforts, COLB is well-poised to expand its foothold across geographies. Umpqua Bank&#39;s strategic expansion into high-growth markets aligns well with its long-term objectives, enabling it to capitalize on emerging opportunities and drive future success.
In the past six months, shares of Columbia Banking System have gained 34.2% compared with the&nbsp; industry&#39;s growth of 17.2%.<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/88/78505.jpg?v=138977930" />
Image Source: Zacks Investment Research
COLB currently carries a Zacks Rank #3 (Hold).
<h2>Expansion Efforts by Other Banks</h2>
This month, Huntington Bancshares Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hban#NASDAQ">HBAN</a>) announced its plans to expand its banking franchise in North Carolina and South Carolina. HBAN intends to add more than 350 employees across varied business divisions and launch roughly 55 retail branches within the next five years.
In February, The PNC Financial Services Group, Inc.&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pnc#NYSE">PNC</a>) subsidiary, PNC Bank, announced plans to make an investment of $1 billion to open more than 100 branches and renovate above 1,200 existing locations by 2028. With this, PNC is poised to improve its branch network and extend access to banking services for its customers and communities nationwide.
<a href="https://www.zacks.com/stock/news/2338730/columbia-banking-system-arm-to-open-3-new-branches-in-arizona?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2338730">To read this article on Zacks.com click here.</a>

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COLB

HBAN

Columbia Banking System' Arm to Open 3 New Branches in Arizona

MEDS

Trxade Health, Inc. Announces Name Change To Scienture Holdings; Scienture Holdings Stock Will Begin Trading Under New Ticker Symbol SCNX On September 23

Truist Securities analyst Brandon King maintains Renasant (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNST#NYSE">RNST</a>) with a Hold and lowers the price target from $38 to $37.

RNST

Truist Securities Maintains Hold on Renasant, Lowers Price Target to $37

Truist Securities analyst Brandon King maintains Regions Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RF#NYSE">RF</a>) with a Hold and raises the price target from $23 to $25.

Truist Securities Maintains Hold on Regions Finl, Raises Price Target to $25

WIIM

Novo Nordisk shares are trading lower. The company reported results from its Phase 2a trial of Monlunabant in obesity.

Truist Securities analyst Brandon King maintains Pinnacle Finl Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNFP#NASDAQ">PNFP</a>) with a Buy and raises the price target from $101 to $113.

PNFP

Truist Securities Maintains Buy on Pinnacle Finl Partners, Raises Price Target to $113

Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) shares continue to fall as the lockup period barring former President Donald Trump and some other investors from <a href="https://www.benzinga.com/news/24/09/40939390/trump-media-technology-group-stock-slides-as-lockup-expiration-looms-whats-going-on">selling shares has expired</a>.
The Details:
Trump has indicated on <a href="https://www.benzinga.com/general/social-media/24/09/40943414/donald-trump-can-cash-out-his-trump-media-technology-stock-keep-company-control-heres-how-ma">multiple occasions </a>that he will not be selling his shares.&nbsp; Last week during a rally in California, the former President responded to an audience question about whether Trump would sell his stake.
"No, I'm not selling," Trump responded. "No, I love it."
Other investors who were subject to the 180-day lockup period may choose to sell shares, however. ARC Global, which owns around 13.1 million shares, registered shares for sale back in April.
Read Next:<a href="https://www.benzinga.com/news/earnings/24/09/40948948/homebuilder-lennar-reports-better-than-expected-q3-results-details"> Homebuilder Lennar Reports Better-Than-Expected Q3 Results: Details</a>
Trump may be losing his edge in the Presidential race, as a slew of recent polls show former President Trump is falling behind Vice President Kamala Harris. A Morning Consult poll put Harris up by 6 points, while surveys from ABC News/Ipsos and Yahoo News/YouGov put Harris ahead by 4 points and 5 points, respectively.
Trump Media &amp; Technology shares continue to slide Friday, extending the stock's losses to more than 20% over the past five days. According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, TMTG stock is down nearly 75% since its debut following a SPAC merger in March.
<h3 class="wp-block-heading">How To Buy DJT Stock: </h3>
By now you're likely curious about how to participate in the market for Trump Media &amp; Technology Group &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so. 
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
DJT Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Trump Media &amp; Technology Group shares are down 4.49% at $14.05 at the time of publication Friday. 
Read Also:
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40944577/whats-going-on-with-bitcoin-miner-cleansparks-stock">What&#8217;s Going On With Bitcoin-Miner CleanSpark&#8217;s Stock?</a></li>
</ul>
Image: Shutterstock

Movers

What's Going On With Trump Media & Technology Stock?

FTC Alleges Pharmacy Benefit Managers Systematically Excluded Cheaper Insulins In Exchange For Expensive, Highly Rebated Alternatives

Legal

FTC Sues Units Of CVS Health , Cigna , And UnitedHealth For Allegedly Artificially Inflating Insulin Prices; FTC Case Does Not Name Insulin Drugmakers Eli Lilly, Novo Nordisk, And Sanofi , But Agency Reserves Right To Sue Later

Truist Securities analyst Michael Swartz maintains Patrick Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PATK#NASDAQ">PATK</a>) with a Buy and raises the price target from $150 to $165.

PATK

Truist Securities Maintains Buy on Patrick Industries, Raises Price Target to $165

Truist Securities analyst Joseph Civello maintains Nike (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) with a Hold and raises the price target from $81 to $85.

Truist Securities Maintains Hold on Nike, Raises Price Target to $85

Spotify Technology S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spot#NYSE">SPOT</a>) has seen its stock skyrocket 83% year to date, significantly outperforming the 23.4% rally of the industry.
As of the last trading session, the stock closed at $343.97, close to its 52-week high of $359.38. SPOT is trading above its 50-day moving average, indicating a bullish sentiment among investors.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/be/78520.jpg?v=1712636320" style="height:310px; width:600px" />
Image Source: Zacks Investment Research
Given the continuous strength in SPOT shares, investors may wonder if there is still an opportunity to invest in the stock. Let&#39;s take a closer look.
<h2>SPOT&#39;s Strong Growth Driven by Price Hikes, Podcast Gains</h2>
Spotify investors have many reasons to be optimistic when it comes to the company&#39;s financial results. Its premium subscriber revenues, which account for approximately 88% of total revenues, play a crucial role in its financial performance. Ad-supported revenues contribute the remaining 12%.
Premium subscribers grew 12%, and ad-supported monthly active users (MAUs) increased 15% in the second quarter of 2024. The growth in total MAU was also noteworthy, with a 14% year-over-year increase. Spotify increased its gross profit by 45% year over year, expanding its gross margin by 510 basis points. It also turned an operating loss of $247 million into a profit of $266 million over the year. The adjusted eps of $1.43 marked a substantial 184.6% year-over-year jump.
Spotify&#39;s performance has been bolstered by sustained price hikes, a loyal consumer base and significant cost reductions. The ability to raise prices while retaining and expanding its subscriber base is particularly noteworthy. This was the first quarter where premium subscriber growth outpaced ad-supported MAU growth sequentially, highlighting the effectiveness of Spotify&#39;s pricing strategy.
The recent price hikes, alongside those by competitors such as Alphabet&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>) YouTube Premium, Apple&#39;s Music/TV and Amazon&#39;s Music Unlimited, underscore the industry&#39;s trend toward higher pricing.
Spotify is further expanding its content portfolio, aiming for a larger portion of its revenues to come from its podcasts and audiobooks. By boosting revenue from these high-margin content initiatives, Spotify could enhance its profitability, even if record labels take a tougher stance in negotiations. The profitability of podcasts is also on the rise, as the company shifts its strategy from using content investments primarily for subscriber growth to focusing on monetization.
By the second quarter of 2024, Spotify hosts over 250,000 video podcast shows, with more than 170 million users having watched a video podcast on the platform.
<h2>SPOT Stock is Still Cheap</h2>
Despite the significant rally over the past year, Spotify&#39;s stock remains relatively undervalued, suggesting potential for further appreciation. The stock is trading at a trailing 12-month price/sales ratio of 4.53X compared to the industry average of 8.76X. The trailing 12-month enterprise value/sales ratio stands at 3.95X compared to the industry average of 8.44X.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/7f/78521.jpg?v=836923443" style="height:310px; width:600px" />
Image Source: Zacks Investment Research
Furthermore, the Relative Strength Index shows no significant signs of overbought conditions, suggesting the stock isn&#39;t overextended.
<h2>Spotify Relative Strength Index</h2>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/b6/78522.jpg?v=1500532284" style="height:310px; width:600px" />
Image Source: Zacks Investment Research
<h2>SPOT has a Strong Liquidity Position</h2>
SPOT&#39;s liquidity position is robust, with a current ratio of 1.56 at the end of the second quarter of 2024 compared to the industry&#39;s 1.02. This robust liquidity reflects SPOT&#39;s ability to cover its immediate liabilities without strain, indicating financial stability and operational flexibility.
<h2>Analysts&#39; Confidence Reflected in Rising Estimates</h2>
Seven estimates for the third quarter of 2024 moved upward over the past 60 days versus no downward revision. Over the same period, the Zacks Consensus Estimate for third-quarter 2024 earnings has increased 32.6% to $1.83. Earnings are expected to grow 408.3% year over year in the quarter.
Eight estimates for 2024 moved north over the past 60 days versus no southward revision. Over the same period, the consensus estimate for 2024 earnings has increased 26.2% to $6.31. Earnings are expected to grow 313.9% year over year in 2024.
The Zacks Consensus Estimate for SPOT&#39;s third-quarter 2024 sales stands at $4.38 billion, suggesting year-over-year growth of 19.8%. Revenues for 2024 are expected to increase 19.4% year over year.
<h2>Spotify is a Must-Buy</h2>
Given its solid fundamentals, undervaluation, and bullish momentum, Spotify is a must-buy for investors looking to capitalize on the growth of the music-streaming and podcasting sectors. Management anticipates a sequential increase of 13 million in total MAUs, a 5 million rise in total premium subscribers, a $193 million revenue boost, a 100 basis point expansion in gross margin, and a $139 million increase in operating income for the third quarter. So, now is an ideal time to invest before further appreciation solidifies SPOT&#39;s position as a market leader.
SPOT currently sports a Zacks Rank #1 (Strong Buy).
<a href="https://www.zacks.com/stock/news/2338737/spotify-stock-rises-83-year-to-date-is-your-fomo-warranted?cid=CS-BENZ-FT-analyst_blog|most_popular_stocks-2338737">To read this article on Zacks.com click here.</a>

Earnings

GOOGL

SPOT

Spotify Stock Rises 83% Year to Date: Is Your FOMO Warranted?

FedEx Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) has hit a rough patch, with its recent quarterly results leaving investors concerned. The stock plummeted over 15% during midday trading on Friday on the earnings news, wiping out gains made during <a href="https://www.benzinga.com/quote/FDX/earnings">this past quarter</a>.
With the drop, FedEx investors have seen only a 1.56% gain over the past year and less than 1% year-to-date.
<h2 class="wp-block-heading">Earnings Miss: A Tough Quarter For FedEx</h2>
Reporting first-quarter revenue and earnings that fell short of analyst expectations, the logistics giant cited a "challenging quarter" due to decreased U.S. domestic priority package volumes and rising wage and transportation costs. This news prompted a reassessment of FedEx's growth trajectory.
The company has revised its full-year guidance downward, now projecting revenue growth in the low single-digit range for fiscal year 2025. 
Morgan Stanley&#8217;s Ravi Shanker downgraded FedEx from Equal-Weight to Underweight, cutting the price target from $215 to $200.
Meanwhile, Baird maintained its Outperform rating but lowered its target from $340 to $320, reflecting some optimism despite current challenges.
Read Also: <a href="https://www.benzinga.com//node/40957779">Shipping Giants FedEx, UPS Stocks Slip Friday: What&#8217;s Going On?</a>
<h2 class="wp-block-heading">FedEx Stock Chart In Deep Bear Territory </h2>
FedEx&#8217;s technical indicators provide no relief to investors amid the turbulence.
The stock is currently trading below its 5, 20, and 50-day exponential moving averages, signaling a strong bearish trend. This comes after the stock price plunged on Friday.
<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/2024/09/20112033/Screenshot-2024-09-20-at-8.48.01-PM.png" alt="" class="wp-image-558700" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20112033/Screenshot-2024-09-20-at-8.48.01-PM.png 631w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20112033/Screenshot-2024-09-20-at-8.48.01-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>
With a current share price of $254.36, the stock sits firmly in bear territory according to its moving averages. The eight-day, 20-day and 50-day SMA (simple moving average), are all far above the current stock price, giving out bear signals. Even the 200-day SMA sits above it at $267.43, reinforcing a long-term bearish momentum.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40960248/fedex-posts-downbeat-q1-earnings-cuts-guidance-why-analysts-see-more-downside-ahead">FedEx Posts Downbeat Q1 Earnings, Cuts Guidance: Why Analysts See More Downside Ahead</a>
<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/2024/09/20112040/Screenshot-2024-09-20-at-8.47.22-PM.png" alt="" class="wp-image-558701" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20112040/Screenshot-2024-09-20-at-8.47.22-PM.png 631w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20112040/Screenshot-2024-09-20-at-8.47.22-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>
Caution is warranted. The MACD (Moving Average Convergence/Divergence) indicator stands at a negative 1.77, signaling bearishness, and the RSI (Relative Strength Index) of 26.67 indicates oversold conditions. While an oversold RSI is generally indicative of a potential rebound, the degree to which the stock is in deep bear territory right now may make it difficult for a rebound to happen over the short-to medium term.
Once FedEx stock starts trading above the 200-day SMA, investors should monitor oscillators for potential changes in events.
FedEx&#8217;s recent earnings report and analyst downgrades raise concerns, as reflected in the stock&#8217;s technical indicators.
As the company navigates these headwinds, investors should remain vigilant, weighing any potential catalyst against the risks of an economic slowdown.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40959748/exclusive-options-expert-warns-of-terrible-week-after-fridays-triple-witching" target="_blank" rel="noreferrer noopener">EXCLUSIVE: Options Expert Warns Of &#8216;Terrible Week&#8217; After Friday&#8217;s Triple Witching</a></li>
</ul>
Photo: Shutterstock

Technicals

FedEx Falls 15% After Earnings Miss, Bearish Signals Raise Red Flags For Investors

Valero Energy shares are trading lower after Piper Sandler downgraded the stock from Overweight to Neutral and lowered its price target from $169 to $123.

On Friday, Mullen Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MULN#NASDAQ">MULN</a>) announced an update on Volt Mobility&#8217;s recently placed $210 million commercial <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g40957847/mullen-provides-update-on-volt-mobility-210-million-uae-order" rel="noreferrer noopener">Class 1 and Class 3 EV order.</a>&nbsp;
This week, Mullen&#8217;s technical and sales teams traveled to Dubai to collaborate with Volt&#8217;s leadership and assist with initial market launch efforts.
&#8220;UAE is a very important market and opportunity for us, and we made sure to have technical and sales team members in Dubai this week to meet Volt leadership to ensure and kick off a successful launch,&#8221; said David Michery, CEO and chairman of Mullen Automotive.
This includes the delivery of the first Mullen ONE electric cargo vans and Mullen THREE cab chassis trucks scheduled for September 18, 2024.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40959475/tesla-vs-nio-vs-xpeng-will-robotaxis-or-price-wars-win-the-ev-battle" rel="noreferrer noopener">Tesla Vs. NIO Vs. XPeng: Will Robotaxis — Or Price Wars — Win The EV Battle?</a>
Mullen recently revealed an order from Volt for 300 all-electric commercial vehicles to be delivered in 2024, with plans for an additional 3,000 vehicles in 2025.
The company will also set up a parts and service network to support Volt Mobility&#8217;s fleet operations.
Recently, the company announced and effected its 1-for-100 reverse stock split in order to regain compliance <a target="_blank" href="https://www.benzinga.com/news/24/09/40921203/whats-happening-with-mullen-automotive-stock-after-reverse-split" rel="noreferrer noopener">with Nasdaq&#8217;s minimum bid requirements.&nbsp;</a>
Apart from this, Mullen&#8217;s subsidiary,&nbsp;Bollinger Motors,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n40919742/bollinger-motors-announces-pricing-for-the-2025-bollinger-b4-commercial-electric-truck" rel="noreferrer noopener">announced the</a> 2025 Bollinger B4 Chassis Cab electric truck will have a manufacturer&#8217;s suggested retail price (MSRP)&nbsp;of $158,758. The company commenced serial production of the B4 this week and will begin delivering vehicles to customers in October 2024. Bollinger said the 2025 B4 will be eligible for combined federal and state incentives that could be in excess of $100,000.
Price Action: MULN shares are trading higher by 2.08% to $7.85 at last check Friday.
Read Next:
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<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" target="_blank" rel="noreferrer noopener">Kim Kardashian Debuts Custom Metallic Silver Cybertruck: Will Elon Musk Approve The Celebrity Makeover?</a></li>
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MULN

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