KraneShares Electric Vehicles and Future Mobility Index ETF (ARCA: KARS)

KraneShares Electric Vehicles and Future Mobility Index ETF (ARCA:KARS), Quote.Headers.trade-ideas

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The fund will invest at least 80% of its total assets in components of the index, depositary receipts, including ADRs, representing such components, and securities underlying depositary receipts in the index. The index is designed to track the equity market performance of companies engaged in the production of electric vehicles or their components or in other initiatives that may change the future of mobility, as determined by index provider. The fund is non-diversified.

Tesla, Inc.

Byd Co Ltd

Li Auto Inc-Class A

Panasonic Corp

Rivian Automotive

Samsung Sdi Co Ltd

Albemarle Corp.

KraneShares Electric Vehicles and Future Mobility Index ETF

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FFIE

GOEV

HYZN

KARS

LCID

NKLA

RIVN

TSLA

WKHS

XPEV

Canoo&#39;s suspension of guidance and negative preannouncement underscore the travails faced by EV startups amid a tough industry environment.

Tesla China Shines, Lucid Gives Peek Into Model Y Rival, Ford Eyes &#39;Electric&#39; Restart In India And More: Biggest EV Stories Of The Week

Nio Photo by Sundry Photography on Shutterstock

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PowerShares Golden Dragon Halter USX China Portfolio

NIO reportedly announces a new partnership with Chery, expanding its extensive EV charging network.

What&#39;s Going On With NIO Shares Tuesday?

A Tesla Car Costs Less Than $20K If You Live In This State

Analyst Color

GELYF

VLVCY

The EV industry&#39;s struggles have forced companies to either trim goals or look elsewhere for offsetting impact.

Tesla&#39;s Ambitious FSD Roadmap, Nio Accelerates With Strong Guidance, Faraday Future Gets Lifeline And More: Biggest EV Stories Of The Week

KARSAN OTOMOTIV SNAYII by KARSAN OTOMOTIV SANAYII VE TICARET AS

Karsan Otomotiv Sanayii Ve Ticaret AS

Raymond James analyst Stephen Laws maintains MFA Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MFA#NYSE">MFA</a>) with a Outperform and raises the price target from $13 to $14.5.

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Raymond James Maintains Outperform on MFA Finl, Raises Price Target to $14.5

WIIM

IESC

PCAR

ROAD

STRL

Shares of broader industrial and machinery stocks are trading higher following the Fed's announcement to cut rates by 50 basis points yesterday, which could support investment and economic growth.

Missouri regulators have scaled back an <a href="https://www.benzinga.com/markets/cannabis/24/08/40323184/missouri-governors-thc-ban-threatens-9-000-retailers-statewide-amid-nationwide-clampdown-on-hemp">initial ban on hemp-derived THC products</a> enacted by Governor Mike Parson (R) on August 1, opting to focus enforcement on those resembling popular candies that could appeal to children. This strategic shift responds to a lawsuit filed by the Missouri Hemp Trade Association (MHTA), which argued the broad ban went against state law.
<h3 class="wp-block-heading">Legal Action Prompts Shift In Hemp THC Product Ban</h3>
The Missouri Department of Health and Senior Services (DHSS) announced Tuesday it would cease the broad embargo on <a href="https://www.benzinga.com/topic/hemp">hemp</a> products containing THC, <a href="https://missouriindependent.com/2024/09/18/hemp-sales-are-back-on-missouri-regulators-pare-down-ban-on-intoxicating-hemp-products/">reported</a> The Missouri Independent. This announcement comes after a letter from Richard Moore, general counsel for the DHSS, which was prompted by legal actions from the hemp industry&#8217;s trade association. Moore&#8217;s letter emphasized the department&#8217;s new focus on targeting &#8220;misbranded&#8221; products that could potentially appeal to minors.
The DHSS inspected 74 establishments this September, finding THC products in 42, as highlighted Lisa Cox, spokeswoman for the department.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.</li>
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The lawsuit aimed at preventing the designation of such hemp products as &#8220;adulterated.&#8221; It highlighted inconsistencies with state laws, which do not consider food products adulterated solely because they contain <a href="http://benzinga.com/topic/hemp">hemp</a> derivatives. This legal interpretation was pivotal in reshaping the enforcement strategy.
However, <a href="http://benzinga.com/topic/missouri-cannabis">Missouri</a> regulators have not embargoed products like hemp flower, hemp milk, protein powders, teas or CBD gummies, <a href="https://www.cannabisbusinesstimes.com/page/staff/">noted</a> to Cannabis Business Times. These items remain unaltered and collected through extraction, distinguishing them from hemp-derived THC products targeted by recent enforcement actions.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/40845389/nj-governor-signs-bill-tightening-rules-on-hemp-industry-stakeholders-protest-big-alcohol-celebr">NJ Governor Signs Bill Tightening Rules On Hemp: Industry Stakeholders Protest, Big Alcohol Celebrates</a>
<h3 class="wp-block-heading">Missouri AG To Evaluate Hemp Misbranding</h3>
Furthermore, the DHSS&#8217; refined strategy involves referring products suspected of misbranding to the Missouri Attorney General&#8217;s office for evaluation under the State's Merchandising Practices Act. This act aims to protect consumers from deceptive marketing practices, ensuring they are fully aware of what they are purchasing. &#8220;The department has no intention at this time to embargo additional psychoactive cannabis products as adulterated,&#8221; stated Moore in his recent communication, according to The Missouri Independent, clarifying the department's adjusted enforcement outlook.
Craig Katz, a spokesperson for the MHTA, expressed support for the state's renewed approach. &#8220;This is the appropriate regulatory and law enforcement focus,&#8221; Katz remarked. He also hinted at forthcoming legislative efforts in 2025 to bolster consumer confidence and ensure rigorous regulation of hemp products.
<h3 class="wp-block-heading">States Face Lawsuits Over Hemp-Derived Products Restrictions</h3>
By narrowing its enforcement to misbranding <a href="https://www.benzinga.com/markets/cannabis/24/08/40323184/missouri-governors-thc-ban-threatens-9-000-retailers-statewide-amid-nationwide-clampdown-on-hemp">rather than a broad ban</a>, Missouri aims to ensure that <a href="https://www.benzinga.com/markets/cannabis/24/07/39915334/a-nasty-high-experts-sound-alarm-over-soup-of-unknown-compounds-in-hemp-derived-thc-products">hemp-derived THC</a> products are safely regulated while supporting the industry's growth and compliance. Similarly, a group of California parents is <a href="https://www.benzinga.com/markets/cannabis/24/09/40906131/this-is-life-or-death-families-of-disabled-children-panic-over-gov-newsoms-hemp-cbd-ban-and-eval">evaluating legal action against Gov. Newsom&#8217;s proposed hemp ban</a>, fearing it could eliminate critical CBD treatments their children rely on for survival.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/09/40833963/expert-calls-for-a-united-hemp-and-cannabis-front-industries-should-collaborate-and-push-for-fed">Expert Calls For A United Hemp And Cannabis Front, &#8216;Industries Should Collaborate&#8217; And Push For Federal Rules</a></li>
</ul>

Cannabis

Government

Regulations

Cannabis Companies Have Missouri's Governor Beat: Hemp-THC Products Sales Resume As Stricter Controls Replace Sweeping Ban

Raymond James analyst Stephen Laws maintains KKR Real Estate Finance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KREF#NYSE">KREF</a>) with a Outperform and raises the price target from $13 to $14.

KREF

Raymond James Maintains Outperform on KKR Real Estate Finance, Raises Price Target to $14

AAOI

AEVA

ANET

BELFB

CALX

FLEX

GDDY

KEYS

LINK

PMTS

SHOP

SNOW

TWLO

ZBRA

Shares of companies within the broader technology sector are trading higher amid overall market strength following Wednesday's Fed rate cut.

AEHR

AMKR

CAMT

CRDO

INTC

Maxeon Solar Technologies, Ltd. - Ordinary Shares

MAXN

MKSI

MTSI

NVMI

ONTO

SITM

SMTC

SWKS

Shares of semiconductor companies are trading higher amid overall market strength following Wednesday's Fed rate cut.

Raymond James analyst Stephen Laws maintains Franklin BSP Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBRT#NYSE">FBRT</a>) with a Strong Buy and raises the price target from $15 to $15.5.

FBRT

Raymond James Maintains Strong Buy on Franklin BSP Realty Trust, Raises Price Target to $15.5

ADBE

AEYE

AILE

AIRE

AIXI

ASAN

BILL

CDNS

CRWD

DAVE

MicroCloud Hologram Inc. - Ordinary Shares

HOLO

HUBS

INTU

MNDY

PCOR

SLNH

SNPS

Shares of software companies are trading higher amid overall market strength following Wednesday's Fed rate cut.

Raymond James analyst Stephen Laws maintains Arbor Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABR#NYSE">ABR</a>) with a Outperform and raises the price target from $15 to $16.

Raymond James Maintains Outperform on Arbor Realty Trust, Raises Price Target to $16

Jay Emmanuel-Thomas, a former striker for football/soccer club Arsenal, has been charged following an alleged attempt to smuggle £600,000 ($796,794) worth of <a href="https://www.benzinga.com/cannabis">cannabis</a> into the UK through Stansted Airport. As The Telegraph <a href="https://www.telegraph.co.uk/football/2024/09/19/jay-emmanuel-thomas-arsenal-cannabis-stansted-airport/?ICID=continue_without_subscribing_reg_first">reported</a>, the 33-year-old, who currently plays for Greenock Morton in the Scottish Championship, was arrested by National Crime Agency (NCA) officers on Wednesday in Gourock, Inverclyde.
What Happened: The arrest came after Border Force officers reportedly discovered approximately 60kg (132 lbs) of cannabis, a Class B drug in the UK's controlled drug list, in two suitcases that had arrived on a flight from Bangkok, Thailand, on September 2. The NCA estimated the haul to be worth £600,000.
Emmanuel-Thomas, who once played for Ipswich Town, Queens Park Rangers and Bristol City, as well as Arsenal at youth level, was detained and questioned by officers before being remanded in custody. He is expected to appear before Carlisle Magistrates Court on Thursday.
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/40798855/uk-government-drug-ban-targets-zombie-drug-xylazine-and-other-opioids">UK Government Drug Ban Targets &#8216;Zombie Drug&#8217; Xylazine And Other Opioids</a>
<h3 class="wp-block-heading">NCA And Border Force Joint Efforts</h3>
David Phillips, NCA's senior investigating officer, said, "The NCA continues to work with partners like Border Force to target those involved in drug smuggling – that includes both the couriers and the organizers." He also urged individuals approached to engage in such activities to "think very carefully about the likely consequences of their actions and the potentially life-changing risks they will be taking."
This arrest follows a sharp increase in the amount of cannabis being seized at U.K. borders, particularly from travelers arriving from Thailand, Canada and the United States. The NCA has warned that drug couriers are often misled by superiors into believing they face only fines if caught, though the maximum sentence for smuggling cannabis into the UK is 14 years in prison.
Now Read: <a href="https://www.benzinga.com/news/large-cap/24/08/40099281/bank-of-england-reduces-16-year-high-interest-rates-in-divided-decision-as-inflation-hits-2">Bank Of England Reduces 16-Year High Interest Rates In Divided Decision As Inflation Hits 2%</a>
Cover image made with AI

Former Premier League Player Charged After Allegedly Trying To Smuggle 60 Kg (132 Lbs) Of Cannabis Into UK

ALLY

ARES

BBVA

CRBG

LPLA

UPST

Shares of companies in the broader financial services and banking sectors are trading higher amid overall market strength following the Fed's rate cut, which could drive a rise in spending and lending demand.

Raymond James analyst Patrick Tyler Brown maintains Casella Waste Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CWST#NASDAQ">CWST</a>) with a Strong Buy and raises the price target from $121 to $122.

CWST

Raymond James Maintains Strong Buy on Casella Waste Sys, Raises Price Target to $122

BABA

BEKE

BIDU

New Oriental Education & Technology Group

NAAS

NTES

Citigourp Global Markets 2% Protected Notes Linked To The Djia

TCOM

YUMC

Shares of US-listed Chinese stocks are possibly trading higher ahead of expectations that the People's Bank of China will cut rates. Also, the sector may be experiencing strength after the Fed cut rates by 50 basis points.

AAPL

Apple shares are trading higher amid overall market strength following the Fed's rate cut.

Morgan Stanley analyst Carlos De Alba maintains MP Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MP#NYSE">MP</a>) with a Equal-Weight and raises the price target from $13.5 to $16.

Morgan Stanley Maintains Equal-Weight on MP Materials, Raises Price Target to $16

Morgan Stanley analyst Carlos De Alba maintains Compañía de Minas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BVN#NYSE">BVN</a>) with a Overweight and lowers the price target from $21 to $18.

Morgan Stanley Maintains Overweight on Compañía de Minas, Lowers Price Target to $18

NIO shares are trading higher following reports suggesting that the company is discounting its Onvo car to compete with Tesla. Also, the stock may be moving higher following the Fed's policy decision to cut rates, which may create optimistic sentiment that the People's Bank of China will cut rates.

BROS

BTBD

CAKE

DASH

KRUS

PLAY

SHAK

WING

Shares of restaurant companies are trading higher following the Fed's rate cut, which could boost industry traffic through an increase in consumer discretionary incomes.

In an aggressive start to its monetary policy easing, the Federal Reserve cut the interest rates by 50 basis points, bringing the fund rates to the 4.75-5% range.
This marked the end of an era of aggressive interest rate hikes to tame &quot;persistent&quot; inflation. The central also indicated two more rate cuts this year, which will bring the Fed funds rate down to 4.4% in 2024.
Following the announcement, the markets&#39; reaction was subdued, and all three major indexes ended in red on Wednesday. On the other hand, indexes related to banks, including the KBW Nasdaq Bank Index and the S&amp;P Banks Select Industry Index closed in green.
The interest rate cut is a positive development for banks like Bank of America (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bac#NYSE">BAC</a>), Citigroup (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/c#NYSE">C</a>) and Comerica (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cma#NYSE">CMA</a>). Banks have been reeling under increasing funding cost pressure. Though higher rates led to a significant jump in banks&#39; net interest income (NII), the same resulted in increased funding costs, which squeezed the net interest margin.
As interest rates come down, funding costs will gradually stabilize and then decline. Hence, this will alleviate pressure on NIM to some extent.
On the other hand, JPMorgan (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jpm#NYSE">JPM</a>) is expected to witness a fall in NII next year. The company&#39;s president and chief operating officer, Daniel Pinto, during the Barclays Global Financial Services Conference on Sept. 10, warned about a potential decrease in the metric in 2025 because of rate cuts.
<h2>What Else Did the Fed Signal?</h2>
In addition to this year&#39;s further reduction in interest rates, the Fed officials, through its dot plot, signaled four more cuts in 2025 and two in 2026.
This will bring the interest rates close to 2.9% by the end of 2026. It is lower than the 3.1% forecasted during the June FOMC meeting. 
Fed&#39;s Dot Plot
<img alt="Federal Reserve" src="https://staticx-tuner.zacks.com/images/articles/charts/52/78412.jpg?v=538394579" />
Image Source: Federal Reserve
Additionally, the central bank came out with the latest summary of Economic Projects. Per the latest SEP data, the U.S. economy is anticipated to grow at the rate of 2% till 2026.
Moreover, the Fed officials noted that &quot;job gains have slowed and the unemployment rate has moved up but remains low.&quot; They lifted their expected unemployment rate to 4.4% for 2024 from the 4% forecasted at the last update in June.
The central bank lowered the inflation target to 2.3% for 2024 from 2.6% predicted in June.
<h2>How Will Banks Be Impacted?</h2>
Apart from the above-mentioned decrease in funding costs, lower rates mean a rise in loan demand. The lending scenario has been muted as the central bank began tightening its monetary policy in March 2022. This had been hurting banks&#39; financials immensely.
As the rates come down, loan demand is gradually expected to improve. The borrowers who have been on the sidelines because of higher rates are now expected to jump in.
Thus, banks including BAC, C, JPM and CMA are expected to benefit from a solid rebound in loan demand.
Lower rates will also result in a gradual improvement in banks&#39; asset quality as borrowers repay loans.
Nonetheless, all of these are not expected to occur immediately, and investors should not expect a total turnaround in banks&#39; financial performance, at least this year.
<a href="https://www.zacks.com/stock/news/2338546/fed-cuts-interest-rates-by-50bps-what-this-means-for-bank-stocks?cid=CS-BENZ-FT-analyst_blog|industry_focus-2338546">To read this article on Zacks.com click here.</a>

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Fed Cuts Interest Rates by 50Bps: What This Means for Bank Stocks

Builders FirstSource, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLDR#NYSE">BLDR</a>) shares are trading higher on Thursday. The company appointed Peter Jackson as its next President and CEO and <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40935211/builders-firstsource-announces-planned-ceo-and-cfo-transition" rel="noreferrer noopener">Pete Beckmann As CFO, effective November 6, 2024.</a>
Jackson, who is the current CFO, will succeed current CEO Dave Rush, who is retiring after 25 years of service.
Rush will remain on the Board of Directors and serve as a special advisor to ensure a smooth transition.
On the other hand, Pete Beckmann, currently Senior Vice President of Financial Planning &amp; Analysis at Builders FirstSource, will succeed Peter Jackson as CFO.
Beckmann, who has been with Builders FirstSource and its predecessor companies since 1999, has held various finance roles, including leading reporting, forecasting, strategic planning, and capital investment analysis.
Paul Levy, Chair of the Board of Directors, said, &#8220;Peter&#8217;s appointment as the Company&#8217;s next CEO underscores the Board&#8217;s steadfast commitment to excellence in our leadership team, and is the result of a thoughtful succession planning process.&#8221;
&#8220;Peter is a dynamic and innovative leader who has had wide-ranging impact on Builders FirstSource. He brings a strategic, operational, and finance-oriented mindset to his new role, as well as a deep understanding of our history, mission and strategy.&#8221;
Last month, the company&nbsp;reported second-quarter adjusted earnings per share of $3.50,&nbsp;beating the street view of $3.02, and sales of $4.456 billion <a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40197700/builders-firstsource-q2-eps-beat-lower-sales-and-1b-stock-buyback-more" rel="noreferrer noopener">missed&nbsp;the street view of $4.483 billion</a>.
As of June-end, liquidity was approximately $1.7 billion, consisting of $1.6 billion in net borrowing availability under the revolving credit facility and $0.1 billion cash on hand.
Investors can gain exposure to the stock via&nbsp;Themes US Small Cap Cash Flow Champions ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCF#NASDAQ">SMCF</a>) and Argent Mid Cap ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMID#NASDAQ">AMID</a>).
Price Action: BLDR shares are up 3.09% at $200.53 at the last check Thursday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40882613/builders-first-source-other-homebuilder-stocks-rise-with-catalysts-such-as-mortgage" target="_blank" rel="noreferrer noopener">Builders First Source, Other Homebuilder Stocks Rise With Catalysts Such As Mortgage Rates, The Fed, Kamala Harris Plan</a></li>
</ul>

Management

AMID

BLDR

SMCF

Builders FirstSource Taps CFO Peter Jackson For Top Role As CEO Dave Rush Plans Retirement

Why We're Expecting Global Car Market Growth To Hit The Brakes

Used Car And Truck Prices Suddenly Bounce, Inventories Tighten: End Of Historic Plunge That Pushed CPI Inflation Down?

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KraneShares Electric Vehicles and Future Mobility Index ETF

Overview

KraneShares Electric Vehicles and Future Mobility Index ETF (ARCA:KARS), Quote.Headers.trade-ideas