Keiyo Bank (OTC:KEIBF) Stock, Quote.Headers.trade-ideas

Keiyo Bank Ltd is a Japanese regional bank operating in the Chiba prefecture. Nearly half of its banking locations are in Chiba proper. Its commercial banking activities include consumer loans, foreign currency deposits, and ATM services. Most of the bank's earning assets are in loans and bill discounted, along with securities. Most of its retail loan portfolio is concentrated in housing loans and loans to small and midsize companies. The bank relies on a consulting arm that works with customers to curtail nonperforming loans. In addition to net interest income, the bank relies on fees and commissions to generate income.

Keiyo Bank Ltd

WIIM

SEEL

Seelos Therapeutics shares are trading lower after the company announced it received a delisting notification from the Nasdaq.

Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) disclosed that it inked supply agreements with LG Energy Solution to provide power for its electrified commercial <a href="https://www.benzinga.com/topic/europe">van models in Europe</a>.
As per the contract, LG Energy Solution plans to supply Ford with a total of 109 GWh of batteries for its electric commercial vans beginning in 2026. The contract duration ranges from four to six years.
Both companies also agreed to produce batteries for the current Ford Mustang Mach-E at LG Energy Solution's Michigan facility starting in 2025 instead of Poland.
This shift aims to enhance business efficiency and leverage competitive market conditions, including IRA tax credits.
David Kim, CEO of LG Energy Solution, said, "These agreements attest to our experience and expertise in powering commercial vehicles with innovative battery technologies designed to handle extreme user environments,"
"Capitalizing on our local production capacity, we will secure leadership in the European market and deliver unmatched values to our customers through advanced battery technologies that effectively address diverse needs."
This month, the company stated that it sold&nbsp;23,509 electric vehicles&nbsp;in the three months through the end of September, marking a jump of 12.2% from the corresponding period last year, despite a<a target="_blank" href="https://www.benzinga.com/news/24/10/41179283/fords-us-ev-sales-gather-pace-in-q3-even-as-its-best-seller-mustang-mach-e-suv-slows-down" rel="noreferrer noopener"> sales slump for its Mustang Mach-E SUV</a>.
Investors can gain exposure to the stock via&nbsp;First Trust Nasdaq Transportation ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXR#NASDAQ">FTXR</a>) and&nbsp;Invesco Exchange-Traded Fund Trust II Invesco S&amp;P Ultra Dividend Revenue ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDIV#NYSE">RDIV</a>).
Price Action: Ford shares are up 0.18% at $10.94 premarket at the last check Tuesday.
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Ford Secures Supply Deal With LG Energy For Electric Commercial Vans

Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) expanded its long-term partnership with T-Systems, a Deutsche Telekom AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/DTEGY#OTC">DTEGY</a>) subsidiary. T-Systems achieves Pinnacle tier status in Broadcom&#8217;s <a href="https://www.benzinga.com//node/41328809" target="_blank" rel="noreferrer noopener">VMware Cloud Service Provider program.</a>
This reflects T-Systems&#8217; expertise and strong track record in driving sales and services globally, allowing them to collaborate closely with Broadcom to help customers solve complex challenges and adopt advanced digital technologies.
Hock Tan, President and CEO of Broadcom, stated, &#8220;Broadcom will continue its close collaboration with T-Systems, one of our most valued partners, to accelerate our mutual customers&#8217; infrastructure modernization, AI adoption, and cyber resilience while also supporting their needs with sovereign cloud services that enable data residency and other jurisdictional controls.&#8221;
Also Read: <a target="_blank" href="https://www.benzinga.com//node/41328454" rel="noreferrer noopener">Why Nvidia, AMD And Other Chipmakers Are Moving Lower In Tuesday&#8217;s Premarket</a>
T-Systems and VMware, now Broadcom, have collaborated closely for 20 years.
Ferri Abolhassan, CEO of T-Systems and board member of Deutsche Telekom, said, &#8220;The partnership with Broadcom is an important component of our multi-cloud strategy. Complemented by our Hyperscaler solutions, we can provide our customers exactly what they need. Always and worldwide.&#8221;
Last week, Broadcom announced the general availability of the BCM68660 and BCM55050 silicon 50G PON Optical Line <a target="_blank" href="https://www.benzinga.com/news/24/10/41234892/broadcom-debuts-new-50g-pon-chips-what-to-know" rel="noreferrer noopener">Terminal-Optical Network devices</a>.
Investors can gain exposure to the stock via VanEck Fabless Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMHX#NASDAQ">SMHX</a>) and Columbia Semiconductor and Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SEMI#NYSE">SEMI</a>).
Price Action: AVGO shares are down 3.89% at $175.22 at the last check Tuesday.
Image via Shutterstock
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Oil prices took a sharp dive on Tuesday, tumbling over 5% in morning trading in New York, as geopolitical tensions in the Middle East slightly eased after Israeli Prime Minister Benjamin Netanyahu reportedly pledged that Iran's crude oil infrastructure would be spared from <a href="https://www.benzinga.com/news/24/10/41321699/oil-prices-drop-after-netanyahu-says-israel-will-attack-military-not-oil-or-nuclear-targets-in-iran">any potential retaliatory strikes. </a>
West Texas Intermediate (WTI) crude, the U.S. benchmark, tracked by the United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), nosedived to $70 per barrel, down more than 5% as of 10 a.m. ET. This marks the steepest one-day decline in over a year.
The selloff followed a Monday report from The Washington Post that said that Netanyahu assured the Biden administration that Israel would avoid targeting Iranian oil and nuclear facilities in any retaliatory military actions.
The assurance suggested a narrower scope of potential conflict, reducing fears of widespread supply shocks in the global oil market.
Market analysts had previously warned that an Israeli strike on Iran&#8217;s oil infrastructure could send crude prices skyrocketing by $20 per barrel, highlighting concerns that Tehran would retaliate by attacking oil installations throughout the Gulf region, potentially triggering a broader energy crisis.
<h3 class="wp-block-heading">Crude Suffers Worst Drop In Over 1 Year As Middle East Supply Fears Recede</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="469" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/15102337/image-118-1024x469.png" alt="" class="wp-image-596308" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/15102337/image-118-1024x469.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/15102337/image-118-300x137.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/15102337/image-118-768x351.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/15102337/image-118-1536x703.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/15102337/image-118.png 1884w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Image: <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent101524&amp;t=be2bearmibe3na1">Benzinga Pro</a></figcaption></figure>
<h3 class="wp-block-heading">Energy Sector Tanks: US Oil Giants Lead Declines</h3>
The immediate reaction in the markets was swift: U.S. energy stocks plunged, while airlines and cruise lines — typically sensitive to fuel prices — enjoyed a sharp relief rally.
The energy sector was one of the biggest losers on the day. The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), which tracks major U.S. energy companies, slid 2.8%, setting up for its worst day since late April. 
АРА Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APA#NASDAQ">APA</a>), Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>) and Valero Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLO#NYSE">VLO</a>) were the worst performers within the XLE ETF, with declines of about 4%.
Companies involved in upstream exploration and production were hit even harder, with the SPDR S&amp;P Oil &amp; Gas Exploration &amp; Production ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOP#NYSE">XOP</a>) falling 3.1%. Talos Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TALO#NYSE">TALO</a>), Kosmos Energy Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KOS#NYSE">KOS</a>) and Crescent Energy Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRGY#NYSE">CRGY</a>) each tumbled by over 4%. 
Downstream oil service providers also struggled, with the VanEck Oil Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>) dropping 3.6%. Major oilfield services companies like Schlumberger N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) and Halliburton Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>) both fell about 3%, while Transocean Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIG#NYSE">RIG</a>) underperformed, down 5%. 
<h3 class="wp-block-heading">Airlines And Cruise Lines Rally: Lower Fuel Costs, Strong Earnings Expectations Lift Sentiment</h3>
While energy stocks suffered, sectors reliant on cheaper fuel prices thrived. Airlines and cruise lines, in particular, were among the best performers within the S&amp;P 500 as the prospect of lower oil prices offered some relief.
Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) surged 4.3%, while Carnival Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) jumped 5.3%. 
Goldman Sachs recently raised its price target on Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>) from $195 to $220, anticipating strong earnings momentum. Similarly, NCLH saw its price target lifted from $22 to $24.
In the airline space, American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) rallied 3.5%, United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) gained 1.2%, reaching its highest level since February 2020, and Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) rose 1.3%.
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Photo via Shutterstock.

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TALO

Oil Prices Take Largest Plunge In Over A Year As Israel Vows To Spare Iranian Facilities: Energy Stocks Sink, Airlines, Cruise Lines Rally

Bit Digital Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTBT#NASDAQ">BTBT</a>) shares are trading higher Tuesday. The company announced that it acquired a datacenter company to vertically integrate its <a href="https://www.benzinga.com/pressreleases/24/10/n41320305/bit-digital-inc-vertically-integrates-acquiring-tier-3-hpc-datacenter-company-280-mw-pipeline-in-m">high-performance computing (HPC) operations</a>. 
What Happened: Bit Digital announced it acquired HPC datacenter company Enovum Data Centers&nbsp;for a total consideration of approximately CAD$62.8 million ($46 million). The acquisition was completed on a debt-free, cash-free basis, and closed on Oct. 11. 
Bit Digital said the addition of Enovum vertically integrates its HPC business so that it can capture additional margin from HPC customers, versus hosting them with third party datacenters. It also enhances Bit Digital&#8217;s competitive positioning. 
&#8220;This transaction is the culmination of many months of due diligence and negotiation. Vertical integration on the HPC side has been a priority for Bit Digital and we believe we were able to achieve this goal at an attractive price,&#8221; said Sam Tabar, CEO of Bit Digital.
&#8220;One of our key criteria for acquiring an HPC site was proximity to a major metropolitan area. The existing site in&nbsp;Montreal&nbsp;and near-term expansions sites are all located in Tier-1 cities. We continue to see major value in having datacenter assets adjacent to highly populous areas as they present the most value for inference models where latency is a primary concern.&#8221;
Immediate term plans include bringing approximately 8MW online by the end of the second quarter of 2025. Bit Digital noted that it&#8217;s tentatively planning to bring an additional 20MW online by the end of 2025.&nbsp;
Check This Out: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41331856/bitcoin-spot-etfs-saw-555-8m-net-inflows-on-monday-monster-day">Bitcoin Spot ETFs Saw $555.8M Net Inflows On &#8216;Monster&#8217; Monday</a>
Bit Digital releases mining metrics on a monthly basis. The company recently announced it mined 51.5 Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) in September, down 3.6% from August. Bit Digital noted that its active hash rate was approximately 2.43 EH/s as of Sept. 30. 
BTBT Price Action: <a href="http://benzinga.com/quote/BTBT">Bit Digital shares</a> were up 5.32% at $3.46 at the time of publication, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Shutterstock.

$BTC

BTBT

Bit Digital Stock Is Rising Tuesday: What's Driving The Action?

<a href="https://www.benzinga.com/topic/jensen-huang">Jensen Huang</a>, the CEO of Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), has an important message for anyone who wants success – resilience is more important than you think. Huang gave a tip that helped him succeed when he spoke at the 2024 SIEPR Economic <a href="https://www.youtube.com/watch?v=cEg8cOx7UZk">Summit – </a>have low expectations.
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&#8220;One of my great advantages is that I have low expectations,&#8221; Huang said. It might sound strange, but Huang thinks having low expectations helps build resilience, which he says is crucial for success. &#8220;People with very high expectations have very low resilience – and, unfortunately, resilience matters in success.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Jensen Huang is clearly one of my favorite founder / CEOs ever now. This guy's interviews are top tier. <a href="https://t.co/hWCZU5g8Ui">pic.twitter.com/hWCZU5g8Ui</a>
&mdash; tyler hogge (@thogge) <a href="https://twitter.com/thogge/status/1767748662548165079?ref_src=twsrc%5Etfw">March 13, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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Huang&#8217;s life shows how true this is. He moved from Taiwan to the U.S. when he was nine years old, faced bullying at his school in Kentucky and started working as a busser at Denny&#8217;s when he was 15. At Denny&#8217;s, the idea for Nvidia – a company <a href="https://www.benzinga.com/personal-finance/24/10/41302868/nvidias-value-balloons-by-400-billion-in-only-5-days-now-exceeds-the-entire-market-cap-of-costco">now worth $3.3 trillion – </a>began to take shape.&nbsp;
<a href="https://www.benzinga.com/news/24/07/39570114/elon-musk-hails-nvidia-ceo-jensen-huangs-work-ethic-and-humble-start-at-dennys-absolutely-the-right">From washing dishes</a> to leading one of the most valuable tech companies in the world, Huang says his journey was shaped by the challenges he faced and his determination to keep going even when things got tough.
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&#8220;I don&#8217;t know how to teach it to you except for I hope suffering happens to you,&#8221; Huang told Stanford students earlier this year, showing that he believes hardship is necessary to build character. He explained, &#8220;Greatness comes from character and character isn&#8217;t formed out of smart people. It&#8217;s formed out of people who suffered.&#8221;
Huang also said that resilience isn&#8217;t just a personal trait – it is a big part of Nvidia&#8217;s culture. He often jokes with his team about &#8220;pain and suffering,&#8221; saying that he wants to build character within the company.&nbsp;
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And that&#8217;s why he said to the auditorium: &#8220;For all of you Stanford students, I wish upon you <a href="https://www.benzinga.com/news/24/05/38895387/nvidias-jensen-huang-tells-stanford-graduates-to-embrace-pain-for-success-hope-suffering-happens-to">ample doses of pain and suffering</a>.&#8221;
Even with Nvidia&#8217;s incredible growth – including a stock increase of almost 200% in the past year and $30 billion in revenue last quarter – Huang stays humble. He often jokes about how he started just trying to be the best dishwasher at Denny&#8217;s, calling his journey &#8220;the most extraordinary thing that a normal dishwasher busser could grow up to be this.&#8221;
In a world where many people aim high and expect fast rewards, Huang's story reminds us that our experiences mold who we are. Because those experiences are what really lead to greatness, Huang suggests people keep their expectations reasonable but also develop perseverance and embrace difficult moments.
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'Resilience Matters In Success,' Says Nvidia CEO Jensen Huang, Claims Him Having Low Expectations Gives Him An Advantage

PHUN

Phunware shares are trading higher. The company may be moving amid sympathy with Trump Media & Technology Group.

Rumble shares are trading higher after the company announced that leading online custom merchandise seller Sticker Mule has become a cloud client. The company may also be moving amid sympathy with Trump Media & Technology Group.

U.S. stocks were lower, with the Dow Jones index falling around 100 points on Tuesday.
Shares of Walgreens Boots Alliance, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>) rose sharply during Tuesday's session following <a href="https://www.benzinga.com/news/earnings/24/10/41333092/walgreens-boots-alliance-outlines-three-cost-saving-strategy-as-q4-earnings-beat-street-estimates">better-than-expected quarterly earnings.</a>
Walgreens reported fourth-quarter fiscal year 2024 sales of $37.55 billion, up 6% year over year (+6.1% on constant currency), beating the consensus of $35.76 billion, reflecting sales growth across all segments. Adjusted EPS was 39 cents, down 40.8%, beating the consensus of 36 cents, according to data from Benzinga Pro.
Walgreens Boots Alliance, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>) gained 12.3% to $10.11 on Tuesday.
Here are some other big stocks recording gains in today's session.
Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>) shares jumped 25% to $14.24 after the company announced it signed a signed a non-binding preliminary memorandum of terms for up to $750 million in proposed direct funding under the CHIPS and Science Act.
MeiraGTx Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGTX#NASDAQ">MGTX</a>) gained 13.4% to $5.26 after safety and tolerability was confirmed in its gene therapy study for Parkinson&#8217;s.
Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ERIC#NASDAQ">ERIC</a>) climbed 12.5% to $8.48 following a third-quarter earnings beat.
Rumble Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUM#NASDAQ">RUM</a>) gained 9.5% to $5.99.
Montrose Environmental Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MEG#NYSE">MEG</a>) gained 7.2% to $25.16. Montrose Environmental Group announced a $249 million US Army Corps Of Engineers Environmental Services contract.
TechTarget, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTGT#NASDAQ">TTGT</a>) gained 7.2% to $26.97. Craig-Hallum analyst Jason Kreyer upgraded TechTarget from Hold to Buy and raised the price target from $34 to $36.
Bit Digital, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTBT#NASDAQ">BTBT</a>) gained 5.8% to $3.4813. Bit Digital acquired Enovum Data Centers for total consideration of approximately $46 million.
Ardent Health Partners, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARDT#NASDAQ">ARDT</a>) gained 5.2% to $19.85.
Foot Locker, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FL#NYSE">FL</a>) gained 4% to $24.72.
American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) gained 3.3% to $12.27.
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Walgreens Posts Upbeat Earnings, Joins Wolfspeed, Ericsson And Other Big Stocks Moving Higher On Tuesday

In the current session, the stock is trading at $236.83, after a 0.67% increase. Over the past month, IBM Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) stock increased by 10.60%, and in the past year, by 69.20%. With performance like this, long-term shareholders are optimistic but others are more likely to look into the price-to-earnings ratio to see if the stock might be overvalued.

<img src="https://www.benzinga.com/files/images/story/2024/1729003510_0.png" alt="Past Year Chart" />

<h3>A Look at IBM P/E Relative to Its Competitors</h3>
The P/E ratio measures the current share price to the company's EPS. It is used by long-term investors to analyze the company's current performance against it's past earnings, historical data and aggregate market data for the industry or the indices, such as S&amp;P 500. A higher P/E indicates that investors expect the company to perform better in the future, and the stock is probably overvalued, but not necessarily. It also could indicate that investors are willing to pay a higher share price currently, because they expect the company to perform better in the upcoming quarters. This leads investors to also remain optimistic about rising dividends in the future. 
Compared to the aggregate P/E ratio of the 59.33 in the IT Services industry, IBM Inc. has a lower P/E ratio of 25.97. Shareholders might be inclined to think that the stock might perform worse than it's industry peers. It's also possible that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1729003510_1.png" alt="Guage" />

In conclusion, the price-to-earnings ratio is a useful metric for analyzing a company's market performance, but it has its limitations. While a lower P/E can indicate that a company is undervalued, it can also suggest that shareholders do not expect future growth. Additionally, the P/E ratio should not be used in isolation, as other factors such as industry trends and business cycles can also impact a company's stock price. Therefore, investors should use the P/E ratio in conjunction with other financial metrics and qualitative analysis to make informed investment decisions.

A Look Into IBM Inc's Price Over Earnings

Alibaba Group Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) and other Chinese e-commerce stocks listed in the U.S. continued to see a volatile session Tuesday as the fiscal stimulus by China failed to impress investors.
China&#8217;s economy has been battling weak growth, further escalated the domestic crackdown on the hyperscalars.
As the Chinese companies started recuperating from the crackdown, the U.S. launched its semiconductor sanctions on the country, depriving it of advanced artificial intelligence technology and reducing its dependence on the country by consolidating its semiconductor base.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/10/41314820/alibabas-lazada-courts-armani-and-other-luxury-brands-seeks-edge-over-rivals-in-southeast-asia" rel="noreferrer noopener">Alibaba&#8217;s Lazada Courts Armani and Other Luxury Brands, Seeks Edge Over Rivals in Southeast Asia</a>
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/15054619/newplot-9.png" alt="" class="wp-image-595599" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/15054619/newplot-9.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/15054619/newplot-9-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Chinese e-commerce companies, including JD.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) and PDD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>), continued their downward trajectory on Tuesday.
Reportedly, <a target="_blank" href="https://www.benzinga.com/markets/asia/24/10/41324527/as-chinas-stimulus-hype-wanes-beijing-reportedly-weighs-850b-special-treasury-bonds-to-stimulate-eco" rel="noreferrer noopener">China is weighing</a> a fiscal stimulus of 6 trillion yuan, or $850 billion, in ultra-long special treasury bonds over the next three years to drive the economy.
<a target="_blank" href="https://www.benzinga.com/government/24/10/41188176/whats-going-on-with-chinese-stocks-alibaba-jd-nio-li-auto-xpeng-on-friday" rel="noreferrer noopener">Prior reports indicated</a> that China&#8217;s central bank planned to slash banks&#8217; reserve requirement ratio (RRR) by 50 basis points or half a percentage point and reduce the seven-day reverse repurchase rate to 1.5% from 1.7% to spur domestic spending.
&nbsp;Reportedly, China&#8217;s stimulus package on September 24 restored over $3 trillion in market value to Chinese stocks trading in global markets. Alibaba, JD.com, and PDD stocks gained 29%-68% in the last 30 days.
Alibaba, JD.com, and PDD have officially started their promotions for the upcoming Singles&#8217; Day shopping festival as the stimulus reports do the rounds.
The annual festival, which takes place on November 11, launched earlier than previous years in 2024, SCMP <a target="_blank" href="https://www.scmp.com/tech/big-tech/article/3282334/alibaba-jdcom-pinduoduo-launch-campaigns-singles-day-shopping-festival-same-day" rel="noreferrer noopener">reports</a>.
Alibaba launched its presale event on October 16, with at least 50% discounts and free nationwide shipping available across its platforms. JD.com and PDD have also rolled out their Singles&#8217; Day promotions on the same day.
Alibaba has committed over $5.7 billion in resources to bolster its platforms during the event. JD.com has introduced price cuts on over a billion products, with significant discounts on high-ticket items.
Price Actions: At the last check on Tuesday, BABA stock was down 4.17% to $103.31. JD is down 7.68%, PDD is down 5.44%.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/markets/24/10/41319571/starbucks-shifts-strategy-fewer-deals-more-focus-on-quality-coffee-and-holiday-favorites" target="_blank" rel="noreferrer noopener">Starbucks Shifts Strategy: Fewer Deals, More Focus on Quality Coffee and Holiday Favorites</a></li>
</ul>
Image by Tada Images via Shutterstock

Emerging Markets

Tech

Media

BABA

Citigourp Global Markets 2% Protected Notes Linked To The Djia

Chinese E-Commerce Firms Alibaba, JD, PDD Gear Up For Singles' Day Shopping Festival

<a href="https://www.wsj.com/finance/activist-palliser-pushes-for-change-at-ai-chip-investor-sk-square-991402f8?mod=latest_headlines">https://www.wsj.com/finance/activist-palliser-pushes-for-change-at-ai-chip-investor-sk-square-991402f8?mod=latest_headlines</a>
&nbsp;
Activist investor Palliser Capital has built a stake in the holding company of highflying artificial-intelligence chip maker <a href="https://www.wsj.com/market-data/quotes/KR/XKRX/000660">SK Hynix</a> <a href="https://www.wsj.com/market-data/quotes/KR/XKRX/000660">000660 2.88%increase; green up pointing triangle</a> and is pushing for changes to boost its share value, according to people familiar with the matter.
<h3>The details</h3>
Palliser, a hedge-fund firm based in London, owns more than 1% of <a href="https://www.wsj.com/market-data/quotes/KR/XKRX/402340">SK Square</a> <a href="https://www.wsj.com/market-data/quotes/KR/XKRX/402340">402340 0.12%increase; green up pointing triangle</a>, the people said, having built a position in the South Korean investment company over the past two years. That makes Palliser among the company's top 10 shareholders. The company's market capitalization is around $8.5 billion.

Global

'Activist Palliser Pushes For Change At AI Chip Investor SK Square; Hedge Fund Has Built A More Than 1% Stake In The South Korean Company, Which Is The Largest Shareholder In Chip Maker SK Hynix' - WSJ

DRUG

Bright Minds Biosciences Shares Resume Then Again Halted On Circuit Breaker To The Upside, Stock Now Up 309.6%

Benchmark analyst Matthew Harrigan reiterates Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) with a Sell and maintains $545 price target.

Price Target

Reiteration

Analyst Ratings

NFLX

Benchmark Reiterates Sell on Netflix, Maintains $545 Price Target

Macro Notification

General

ASML

Chip Stocks Fall On Soft ASML Guidance And Reports Of US Export Curbs

AMAT

INTC

KLAC

LRCX

LSCC

MCHP

NXPI

QCOM

RMBS

SIMO

TSEM

Shares of chip stocks are trading lower in sympathy with ASML, which fell after issuing soft guidance. Some stocks in the sector may also be down on reports indicating the US is discussing curbing chip exports to some countries.

Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) shares are trading higher on Tuesday. The company <a href="https://d18rn0p25nwr6d.cloudfront.net/CIK-0000012927/4d8edab4-f0b6-4cec-8b89-5b1f4a655cf8.pdf">inked</a> a $10 billion supplemental credit agreement <a href="https://www.benzinga.com/topic/big-banks">with several big banks</a>.
Bank of America, Citibank, Goldman Sachs, and JPMorgan are on board as joint lead arrangers and bookrunners.
Boeing plans to pay a 0.5% funding fee on each advance under the credit agreement and a 0.50%-1.00% duration fee on outstanding advances after 90 to 270 days.
Non-SOFR loans will accrue interest at the higher of Citibank's base rate, federal funds rate plus 0.50%, or Adjusted Term SOFR plus 1.00%, with an additional 0.375%-1.00%, based on Boeing's credit rating.
SOFR loans will bear interest at Adjusted Term SOFR plus 1.375%-2.00%. Commitments end in 120 days, with advances maturing in 364 days.
The credit agreement limits Boeing's debt to 60% of total capital. It also restricts liens to $250 million, and allows mergers only if Boeing is the surviving entity.
Apart from this, Boeing disclosed a mixed shelf offering of up to $25 billion, which includes Senior and Subordinated Debt Securities, <a target="_blank" href="https://d18rn0p25nwr6d.cloudfront.net/CIK-0000012927/8cf7f199-191c-4c3e-8056-b2914fea83e1.pdf" rel="noreferrer noopener">Common </a>Stock, and Preferred Stock.
This week, Boeing announced a 10% workforce reduction of approximately 17,000 jobs in <a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41319026/boeings-q3-earnings-face-turbulence-strikes-layoffs-safety-woes-ahead" rel="noreferrer noopener">an effort to stem financial losses</a>.
Investors can gain exposure to the stock via&nbsp;IShares U.S.&nbsp;Aerospace &amp; Defense ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>) and&nbsp;Gabelli Commercial Aerospace and Defense ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCAD#NYSE">GCAD</a>).
Price Action: BA shares are up 0.95% at $150.40 premarket at the last check Tuesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/10/41326434/boeing-employee-strike-enters-second-month-costing-airplane-maker-nearly-5b-the-stock-is-down-ov" target="_blank" rel="noreferrer noopener">Boeing Employee Strike Enters Second Month, Costing Airplane Maker Nearly $5B: The Stock Is Down Over 4% As Operational Halts And Mounting Losses Impact Market Valuation</a></li>
</ul>
Image: Shutterstock

GCAD

iShares Dow Jones US Aerospace & Defense Index Fund

Boeing Shares Jump As Troubled Aerospace Company Inks $10B Supplemental Credit Agreement With Big Banks

Guidance

ASML shares are trading lower following soft Q3 guidance.

Fitch Ratings On Boeing Says Shelf Registration Accommodates Broader Market Access, Including The Issuance Of Equity, That Could Help Alleviate Downgrade Risks

ASML Holding NV 3Q Bookings €2.63 Billion, Est. €5.39 Billion; Sees 2025 Net Sales €30 Billion To €35 Billion, Est. €35.94 Billion

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