Karat Packaging (NASDAQ:KRT) Stock, Quote.Headers.trade-ideas

Karat Packaging

Karat Packaging Inc is engaged in the manufacturing and distribution of disposable products used in restaurants and food service settings. It offers products for the foodservice industry, including food packaging, containers, tableware, cups, lids, cutlery, and straws. These products are available in plastic, paper, biopolymer-based and other compostable forms. Its product line includes a variety of brands such as Tea Zone, Karat, Karat Earth, and Total Clean.

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Shares of Karat Packaging, Inc. (NASDAQ: KRT) have lost 8.5% since the company reported lower-than-expected second-quarter 2024 revenues and earnings per share on Aug 8, 2024. The quarterly adjusted EPS of 49 cents missed the Zacks Consensus Estimate of 60 cents and declined 29% year over year.

Karat Packaging Stock Dips on Q2 Earnings &amp; Revenue Miss

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BofA Securities has upgraded Fulcrum Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FULC#NASDAQ">FULC</a>) ahead of the company&#8217;s phase 3 losmapimod readout, expected by the end of October for Facioscapulohumeral <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/g40063519/fulcrum-therapeutics-announces-recent-business-highlights-and-financial-results-for-second-quarter" rel="noreferrer noopener">muscular dystrophy (FSHD)</a>.
FSHD is&nbsp;a rare genetic muscle disease affecting a child&#8217;s facial muscles, shoulders, upper arms, and lower legs. These muscles <a target="_blank" href="https://www.benzinga.com/quote/fulc" rel="noreferrer noopener">weaken and shrink</a> (atrophy).
The analyst notes that although a previous pivotal study failed using the DUX4 expression endpoint, the company conducted a post-hoc analysis and designed a new study with the endpoint &#8220;reachable workspace&#8221; (RWS), which has sparked debate in the investment community.
Two key opinion leaders (KOLs) expressed optimism about the upcoming phase 3 results, citing the functional benefits seen in phase 2 using RWS, which measures upper extremity function. Despite being a newer endpoint, the KOLs believe RWS accurately tracks disease progression.
They view the stabilization of RWS in phase 3 as clinically meaningful and believe replicating the phase 2 results—showing a 10% placebo-adjusted change at 48 weeks—would be a success.
However, the analyst remains uncertain about the study&#8217;s likelihood of success due to the unpredictability of the control arm&#8217;s response.
BofA upgraded the stock from Underperform to Neutral and increased the <a target="_blank" href="https://www.benzinga.com/quote/FULC/analyst-ratings" rel="noreferrer noopener">price target from $5 to $10</a>, as the analyst increased the likelihood of success (LOS) from 35% to 50%
&#8220;We await the ph 3 readout before further de-risking the program and note we continue to view the pociredir story in sickle cell disease (SCD) as a stock overhang,&#8221; the analyst adds.
BofA notes that losmapimod is expected to be the first treatment for FSHD, but it may face future competition from Avidity Biosciences Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RNA#NASDAQ">RNA</a>) and Roche Holdings AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RHHBY#OTC">RHHBY</a>), which are further behind in development.
Price Action: FULC stock is up 1.30% at $8.651 at last check Monday.
Photo via Shutterstock
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FULC

RHHBY

Fulcrum Therapeutics Upgraded: BofA Debates Pivotal Study Success For Losmapimod In Rare Genetic Muscle Disease

If understood and applied correctly, technical analysis should be a study of market psychology and supply and demand. These are the dynamics that make stocks move.
The chart of Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) illustrates some important technical analysis lessons. That's why it is our <a href="https://www.benzinga.com/topic/stock-of-the-day">Stock of the Day</a>.
As you can see on the chart, the $180 level was support for Amazon in July. Now the level has converted into resistance.
Support turning into resistance is a common occurrence in the financial markets. It's because of regretful buyers.
Some of the people who bought Amazon while it was at support regretted doing so when the stock dropped just after. Some of these remorseful buyers decided to get out of their positions. But they don't want to lose money.
As a result, when the stock rallied and got back to their buy price, they sell. If there are enough remorseful buyers placing sell orders at the level that had been support, it can convert the level into resistance. This is what happened with Amazon.
The chart also gives a lesson on reversal patterns.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="627" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/09142533/Amazon_chart-1024x627.png" alt="" class="wp-image-538169" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/09142533/Amazon_chart-1024x627.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/09142533/Amazon_chart-300x184.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/09142533/Amazon_chart-768x470.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/09142533/Amazon_chart.png 1188w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Reversal patterns can appear on charts when the leadership of the market is changing from bears to bulls or bulls to bears. Sometimes the change takes place over an extended time-period. But sometimes the change can take place in one day.
On the chart are two one-day reversal patterns. In Japanese candlesticks terminology, they are called ‘bearish engulfing patterns.' In Western terminology, they are referred to as ‘outside reversal days.'
The key to understanding patterns is to understand the trading dynamics they illustrate.
In the morning of the days that the patterns formed it looked like the recent uptrend would continue. The opening price was higher than the previous day's close.
But by the end of the day, the sellers overpowered the buyers. They pushed the price much lower. The stock ended up closing at a lower price than the previous day&#8217;s open. The trading on the day the pattern formed ‘engulfed' the prior day&#8217;s action.
New traders tend to get caught up with whether something is or isn't a specific pattern. But the names of the patterns are not important. What is, is to understand the trading action that caused the pattern to form.
Veteran traders don't care about the names. They care about the dynamics the patterns illustrate. This is why they profit.
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Image: Shutterstock

Technicals

AMZN

Stock Of The Day: Amazon Delivers A Trading Lesson On Reversal Patterns

Virco Manufacturing Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/virc#NASDAQ">VIRC</a>) came out with quarterly earnings of $1.04 per share, beating the Zacks Consensus Estimate of $1 per share. This compares to earnings of $0.95 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 4%. A quarter ago, it was expected that this company would post a loss of $0.13 per share when it actually produced earnings of $0.13, delivering a surprise of 200%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Virco Manufacturing, which belongs to the Zacks Furniture industry, posted revenues of $108.42 million for the quarter ended July 2024, missing the Zacks Consensus Estimate by 6.46%. This compares to year-ago revenues of $107.32 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
Virco Manufacturing shares have added about 20.4% since the beginning of the year versus the S&amp;P 500&#39;s gain of 13.4%.
<h2>What&#39;s Next for Virco Manufacturing?</h2>
While Virco Manufacturing has outperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Virco Manufacturing: mixed. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.83 on $96.9 million in revenues for the coming quarter and $1.86 on $305.5 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Furniture is currently in the bottom 16% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, MillerKnoll (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mlkn#NASDAQ">MLKN</a>), is yet to report results for the quarter ended August 2024. The results are expected to be released on September 19.
This furniture maker is expected to post quarterly earnings of $0.42 per share in its upcoming report, which represents a year-over-year change of +13.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
MillerKnoll&#39;s revenues are expected to be $892 million, down 2.8% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2333448/virco-manufacturing-corporation-virc-surpasses-q2-earnings-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2333448">To read this article on Zacks.com click here.</a>

Earnings Beats

MLKN

VIRC

Virco Manufacturing Corporation Surpasses Q2 Earnings Estimates

WIIM

BCYC

Bicycle Therapeutics shares are trading higher. Cantor Fitzgerald reiterated an Overweight rating on the stock and Needham maintained a Buy.

Teledyne Technologies, Inc.&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tdy#NYSE">TDY</a>)&nbsp;business unit, Teledyne FLIR Defense, recently won a $20.8 million contract to supply its Star SAFIRE 380-HLD multi-spectral imaging systems. The award has been offered by the Japan Maritime Self-Defense Force.
Within the next three years, Teledyne is expected to supply 10 Star SAFIRE 380-HLD systems as part of the agreement. The company has already shipped one spare unit and two systems to JMSDF for testing and assessment.
<h2>Significance of TDY&#39;s Star SAFIRE 380-HLD</h2>
The Star SAFIRE 380-HLD is an ultra-long-range aerial surveillance system that provides high-definition visual and thermal images to operators. It has excellent picture stabilization and, with its laser designator and rangefinder, delivers extremely precise target localization and laser spot placement.
With its exceptional capabilities, the SS 380-HLD can function in all weather situations. It is the world&#39;s most commonly used imaging system of its kind for intelligence, surveillance, reconnaissance and targeting operations.
<h2>TDY&#39;s Place in Military Thermal Imaging</h2>
With the advancement and integration of technology into larger defense and security systems, military thermal imaging is witnessing increasing demand from military and law enforcement sectors for its enhanced operational capabilities.
This is likely to have prompted the Market Research Future firm to predict that the military thermal imaging market will witness a CAGR of 8.1% during the 2024-2032 period. This market growth prospect is anticipated to bode well for Teledyne, which offers a wide range of thermal imaging systems for military operations.
TDY is a well-known producer of sophisticated technological solutions for the aerospace and defense industries, including thermal imaging systems. These systems are critical for modern military and law enforcement operations, allowing people to detect, identify and engage targets effectively in a variety of environments where visibility is limited or obstructed.
Its product portfolio includes a wide variety of military thermal weapons sights, such as Ranger HRC-MS, Ranger HDC and Ranger MS-UC DefendIR. Such significant products in its portfolio enable Teledyne to witness a stream of order flow like the latest one, which is likely to boost its revenue generation prospects.
<h2>Opportunities for TDY&#39;s Peers</h2>
Apart from Teledyne, other defense majors, who have established themselves in the military thermal imaging business and thus stand to gain from the anticipated expansion of this industry, are as follows:
RTX Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rtx#NYSE">RTX</a>): The company&#39;s Combined Vision System gives pilots the finest possible perspective by combining real-time thermal images from its improved vision system with weather-independent synthetic vision in a single view for advanced situational awareness. It also offers full-view dynamic object identification and eliminates unexpected collisions.
The RTX stock boasts a long-term (three to five years) earnings growth rate of 10.4%. The Zacks Consensus Estimate for 2024 sales indicates an improvement of 7% from the previous year&#39;s figure.
BAE Systems (OTC: <a class="ticker" href="https://www.benzinga.com/stock/baesy#OTC">BAESY</a>): The company&#39;s Thermal Imaging Module TIM 1500 allows the user to see deep into the battlefield, increasing surveillance and target acquisition range and giving the warfighter the capacity to outperform the opponent in battlefield.
The stock boasts a long-term earnings growth rate of 12.4%. The Zacks Consensus Estimate for BAESY&#39;s 2024 sales implies an improvement of 36.3% from the previous year&#39;s level.
L3Harris Technologies (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lhx#NYSE">LHX</a>): The company&#39;s Infrared Target Acquisition Sight system enhances thermal imaging capabilities in armored combat vehicles, resulting in improved target detection, recognition and identification ranges.
The LHX stock boasts a long-term earnings growth rate of 9.3%. The Zacks Consensus Estimate for L3Harris&#39; 2024 sales implies an improvement of 9.6% from the previous year&#39;s level.
<h2>TDY Stock&#39;s Price Movement</h2>
In the past three months, TDY shares have risen 8.4% compared to the industry&#39;s 5.2% growth.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/d0/76998.jpg?v=147037322" />
Image Source: Zacks Investment Research
<h2>TDY&#39;s Zacks Rank</h2>
Teledyne currently has a Zacks Rank #2 (Buy).
<a href="https://www.zacks.com/stock/news/2333449/teledyne-wins-deal-to-supply-multi-spectral-imaging-systems?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2333449">To read this article on Zacks.com click here.</a>

Events

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BAESY

Teledyne Wins Deal to Supply Multi-Spectral Imaging Systems

Macro Economic Events

Global

Economics

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AAPL

iPhone 16 PRO 3 New Cameras Include New 48 Megapixel Fusion Camera, 48MP Ultra Wide Camera, 12MP 5x Telephoto Camera

JP Morgan analyst Anne Samuel maintains Veeva Systems (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VEEV#NYSE">VEEV</a>) with a Neutral and raises the price target from $203 to $208.

VEEV

JP Morgan Maintains Neutral on Veeva Systems, Raises Price Target to $208

Espey Increases Quarterly Dividend By 25% From $0.20 To $0.25/Share

JP Morgan analyst Anne Samuel maintains Phreesia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHR#NYSE">PHR</a>) with a Overweight and raises the price target from $27 to $28.

JP Morgan Maintains Overweight on Phreesia, Raises Price Target to $28

New iPhone 16 Pro MAX Has The Best Battery Life Over Previous Models, Has New A18 PRO Chip, Even More Efficient Then A18

CCSI

Consensus Cloud Solutions shares are trading lower after JP Morgan downgraded the stock from Neutral to Underweight.

Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares are moving higher on Monday after its supplier Panasonic announced it completed preparations for mass production of <a href="https://www.benzinga.com//node/40768567">high-capacity electric vehicle (EV) batteries</a>.
What Happened: The company is set to produce its 4680 cells and will use its Wakayama plant as the main factory for manufacturing these cells, according to Reuters.
The larger 4680 cells have five times the capacity compared to the 2170 cylindrical batteries. Specifically, the 4680 cells have a 46-millimeter diameter and an 80-millimeter height.
With these batteries, automakers can extend the driving range of electric vehicles while using fewer cells to accomplish the same battery pack capacity. 
Panasonic sent battery samples to some automakers and will start production after approval. By March 2025, the Wakayama plant will have an approximately 400-person workforce dedicated to developing and manufacturing new batteries.
How To Buy Tesla Shares 
By now you're likely curious about how to participate in the market for Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) &#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.
See Also: <a href="https://www.benzinga.com/insights/analyst-ratings/24/09/40775875/20-analysts-assess-carvana-what-you-need-to-know">20 Analysts Assess Carvana: What You Need To Know</a>
TSLA Price Action: At the time of writing, Tesla stock is trading 3.14% higher at $217.33, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: Photo via Shutterstock

Movers

TSLA

What's Going On With Tesla Shares Monday?

Cousin Properties (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cuz#NYSE">CUZ</a>) recently announced that it has entered into a lease arrangement with a Fortune 100 technology company for around 320,000 square feet of all of its Domain 12 property in Austin, TX.
The said customer is new to Cousins&#39; portfolio and will take up the ongoing lease from Meta Platforms, effective from Jan. 1, 2026, extending its maturity from 2031 to 2040.
Cousins&#39; Domain portfolio, spanning around 2.5 million square feet, is at present more than 99% leased, reflecting the solid demand for space. Delivered in 2020, Domain 12 exists near The Domain&#39;s main dining and entertainment district.
This Cousins lifestyle office property&#39;s offerings of amenities such as cafes, outdoor terraces, a fitness center and bike storage, with direct access to several hiking and bike trails, lead to a wholesome experience for its clients.
As per Colin Connolly, the president and chief executive officer of Cousins Properties, &quot;We are excited that our teams found a creative solution to welcome another global technology innovator to a trophy property in The Domain.&quot; He also asserted, &quot;The Domain provides a highly amenitized experience that leading companies recognize as a critical tool to drive employee recruitment, retention, and culture.&quot;
<h2>Cousins Properties Sees a Recovery in Demand</h2>
Cousins Properties is seeing a recovery in demand for its high-quality, well-placed office properties, as highlighted by a rebound in new leasing volume. For the six months ended June 2024, the company executed 77 leases for a total of 794,240 square feet of office space with a weighted average lease term of 7.8 years. This included 404,011 square feet of new leases, 268,210 square feet of renewal leases and 122,019 square feet of expansion leases.
<img alt="Cousins Properties" src="https://staticx-tuner.zacks.com/images/articles/charts/84/76941.jpg?v=1977785616" />
Image Source: Cousins Properties
Going forward, Cousins Properties&#39; high-quality office portfolio, impressive tenant roster, opportunistic investments and developments in best sub-markets and strong balance sheet are expected to drive its growth. However, a continuation of the hybrid work environment and high supply in the office real estate market is expected to adversely impact its pricing power.
Over the past three months, shares of this Zacks Rank #2 (Buy) company have risen 24.3% compared with the industry&#39;s upside of 16.7%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/70/76937.jpg?v=553016743" />
Image Source: Zacks Investment Research
<h2>Other Stocks to Consider</h2>
Some other top-ranked stocks from the broader REIT sector are Paramount Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pgre#NYSE">PGRE</a>) and Lamar Advertising (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lamr#NASDAQ">LAMR</a>), each carrying a Zacks Rank #2 at present.
The Zacks Consensus Estimate for Paramount Group&#39;s 2024 FFO per share has been raised marginally northward over the past three months to 78 cents.
The Zacks consensus estimate for Lamar Advertising&#39;s current-year FFO per share has been revised marginally upward over the past month to $8.09.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
<a href="https://www.zacks.com/stock/news/2333425/cousins-properties-leases-full-building-at-the-domain-in-austin?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2333425">To read this article on Zacks.com click here.</a>

Mid Cap

Penny Stocks

REIT

Offerings

Real Estate

LAMR

PGRE

Cousins Properties Leases Full Building at The Domain in Austin

U.S. stocks traded higher toward the end of trading, with the S&amp;P 500 gaining around 1% on Monday.
The Dow traded up 1.08% to 40,781.71 while the NASDAQ rose 0.76% to 16,818.23. The S&amp;P 500 also rose, gaining, 0.95% to 5,459.48.
Check This Out:<a href="https://www.benzinga.com/news/24/09/40770406/top-3-financials-stocks-that-could-blast-off-in-september"> Top 3 Financials Stocks That Could Blast Off In September</a>
Leading and Lagging Sectors Consumer discretionary shares surged by 1.8% on Monday.
In trading on Monday, communication services shares rose by just 0.1%.
Top Headline
U.S. wholesale inventories increased by 0.2% month-over-month to $903.5 billion in July compared to a preliminary reading of a 0.3% rise, and versus a revised flat reading a month ago.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Sintx Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SINT#NASDAQ">SINT</a>) shares shot up 87% to $5.26 after the company announced it received a Notice of Allowance from the United States Patent and Trademark Office for patent application no. 17/634,141 entitled &#8220;Methods of Surface Functionalization of Zirconia-Toughed Alumina with Silicon Nitride Ceramic.&#8221;</li>
<li>Shares of Intelligent Bio Solutions Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INBS#NASDAQ">INBS</a>) got a boost, surging 40% to $2.2125 after the company announced preliminary fourth-quarter revenue results of $730K and FY24 revenue of $3.11 million.</li>
<li>Relay Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RLAY#NASDAQ">RLAY</a>) shares were also up, gaining 63% to $10.18 after the company reported interim data for its breast cancer treatment.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Edgio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EGIO#NASDAQ">EGIO</a>) shares dropped 80% to $1.22. Edgio launched a strategic financial restructuring to facilitate sale and strengthen operations.</li>
<li>Shares of Pineapple Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEGY#NASDAQ">PEGY</a>) were down 64% to $0.2927 after the company entered into exchange agreements to swap Series A preferred stock and warrants for Series C preferred stock, convertible at $0.45 per share.</li>
<li>AMC Networks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMCX#NASDAQ">AMCX</a>) was down, falling 10% to $8.12. CSW Industrials Inc. (NASD: CSWI) will replace AMC Networks in the S&amp;P SmallCap 600.</li>
</ul>
Commodities In commodity news, oil traded up 1.3% to $68.54 while gold traded up 0.2% at $2,529.60.
Silver traded up 1.6% to $28.62 on Monday, while copper rose 1.6% to $4.14.
Euro zone
European shares were higher today. The eurozone's STOXX 600 gained 0.82%, Germany's DAX gained 0.77% and France's CAC 40 rose 0.99%. Spain's IBEX 35 Index rose 0.89%, while London's FTSE 100 rose 1.09%.
The BNP Paribas Real Estate Construction PMI in Ireland edged higher to 50.0 in August from 49.9 in July.
Asia Pacific Markets
Asian markets closed mostly lower on Monday, with Japan's Nikkei 225 falling 0.48%, Hong Kong's Hang Seng Index declining 1.42%, China's Shanghai Composite Index falling 1.06% and India's BSE Sensex gaining 0.46%.
Foreign exchange reserves in Singapore declined to SGD 501.3 billion in August compared to SGD 506.4 billion a month ago. The gauge for Japan's service sector rose to 49.0 in August versus 47.5 in the prior month, while the country' economy expanded by 2.9% on an annualized basis during the second quarter.
China&#8217;s annual inflation rate accelerated to 0.6% in August from 0.5% in the prior month, while producer prices fell by 1.8% year-over-year in August.
Economics
<ul>
<li>The Manheim Used Vehicle Value Index rose 1.2% month-over-month in August compared to a 2.8% gain in July.</li>
<li>U.S. wholesale inventories increased by 0.2% month-over-month to $903.5 billion in July compared to a preliminary reading of a 0.3% rise, and versus a revised flat reading a month ago.</li>
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New iPhone 16 Pro With New Design, New 6.3" Display, 6.9" Display In iPhone 16 Pro MAX; Grade 5 Titanium, More Scratch Resistant And Lighter, Comes In 4 Colors

B. Riley Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RILY#NASDAQ">RILY</a>) shares rose on Monday after the company announced strategic and financing initiatives. Initiaves included negotiating a sale of a majority stake in its Great American Group at a $380 million enterprise value, alongside a $236 million debt financing<a href="https://www.benzinga.com/quote/RILY/news"> plan for its brands portfolio.</a>
What To Know: These moves are expected to yield around $410 million in gross cash proceeds, which the company plans to use to reduce its senior secured debt to approximately $125 million by the end of 2024.
Key Initiatives:
<ul>
<li>Sale of Majority Stake: B. Riley is negotiating the sale of a 53% stake in its Great American Group business, valued at approximately $380 million.</li>
<li>Debt Financing Initiative: The company has entered into a non-binding agreement for $236 million in debt financing for its brands portfolio, using the funds to pay down its senior secured debt.</li>
<li>Debt Repayment: B. Riley intends to use the proceeds to reduce debt, aiming to lower its Nomura Senior Secured Credit Agreement to $125 million by the end of 2024.</li>
<li>Balance Sheet Strengthening: The cumulative transactions are expected to enhance the company's financial position, allowing for better investment in its core businesses.</li>
</ul>
Price Action: As of now, B. Riley shares have surged by 11.1%, with the price rising to $5.97 according to <a href="https://pro.benzinga.com/dashboard">Benzinga pro.</a>
<figure class="wp-block-image size-large is-resized"><a href="https://benzinga.slack.com/archives/D072651PB4K/p1722883001180099"><img loading="lazy" decoding="async" width="1024" height="559" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/09135821/rily-1024x559.png" alt="" class="wp-image-538109" style="width:451px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/09135821/rily-1024x559.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/09135821/rily-300x164.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/09135821/rily-768x419.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/09135821/rily.png 1077w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
See Also:
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<li><a href="https://www.benzinga.com/markets/equities/24/09/40779265/progress-softwares-big-bet-acquires-sharefile-for-875m-while-hitting-pause-on-dividends">Progress Software&#8217;s Big Bet: Acquires ShareFile For $875M While Hitting Pause On Dividends</a></li>
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Image: Shutterstock/ solarseven.

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In a report released today, Ryan Meyers from Lake Street maintained a Buy rating on Karat Packaging Inc (KRT – Research Report), with a price targe...

Karat Packaging Inc (KRT) Receives a Buy from Lake Street

Karat Packaging Non-GAAP EPS of $0.49 misses by $0.10, revenue of $112.6M misses by $1.3M

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Karat Packaging (NASDAQ:<a href="https://investorplace.com/stock-quotes/krt-stock-quote/">KRT</a>) just reported results for the second quarter of 2024.<ul><li>Karat Packaging reported earnings per share of 49 cents. This was below the analyst estimate for EPS of 59 cents.</li><li>The company reported revenue of $112.60 million.</li><li>This was 1.14% worse than the analyst estimate for revenue of $113.90 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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									</ul>The post <a href="https://investorplace.com/earning-results/2024/08/krt-stock-earnings-karat-packaging-for-q2-of-2024/">KRT Stock Earnings: Karat Packaging Misses EPS, Misses Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

KRT Stock Earnings: Karat Packaging Misses EPS, Misses Revenue for Q2 2024

Karat Packaging Inc (KRT – Research Report), the Consumer Cyclical sector company, was revisited by a Wall Street analyst yesterday. Analyst Jake B...

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Karat Packaging Inc. (KRT) Q2 2024 Earnings Call Transcript

The food packaging industry is set for strong growth due to the increase in e-commerce, food deliveries, appealing packaging designs, and a rising demand for sustainable solutions. To that end, let's examine the fundamentals of packaging stocks Karat Packaging (KRT) and Sealed Air (SEE) to understand why they are worth your investment now. Read more... The food packaging market is set to grow rapidly due to increasing demand for food delivery and takeout, new technologies, and rising incomes. Moreover, there is a rising emphasis on eco-friendly packaging, improved convenience, and strategic investments, which further boosts market potential and optimization.
Given these strong growth drivers, investing in fundamentally strong packaging stocks like Karat Packaging Inc. (<a href="https://stocknews.com/stock/KRT/">KRT</a>) and Sealed Air Corporation (<a href="https://stocknews.com/stock/SEE/">SEE</a>) could be worth your money now. Before diving deeper into the fundamentals of these stocks, let's discuss what is shaping the food packaging industry's prospects.
Consumers now seek longer shelf life and healthier options, prompting companies to innovate their products and packaging. Supermarkets and food brands are replacing traditional formats with high-barrier films and retort pouches, focusing on recyclable materials and convenience.
Meanwhile, brands continue to provide custom, unique, and often luxurious packaging to satisfy customers, driving demand for single-use disposable products made from plastic, paper, biopolymers, and compostable materials in restaurants and food services. As a result, the packaging market is expected to reach $1.38 trillion by 2029, with a <a href="https://www.mordorintelligence.com/industry-reports/global-packaging-market/market-size">3.9% CAGR</a>, making it a promising investment opportunity.
Let's take a closer look at the fundamentals of the two featured <a href="https://stocknews.com/category/industrial-packaging/">Industrial – Packaging</a> stocks, beginning with the second choice.
Stock #2: Karat Packaging Inc. (<a href="https://stocknews.com/stock/KRT/">KRT</a>) 
KRT manufactures and distributes single-use disposable products in plastic, paper, biopolymer-based, and other compostable forms used in various restaurant and foodservice settings. It provides food and take-out containers, bags, tableware, cups, lids, cutlery, straws, specialty beverage ingredients, equipment, gloves, and other products under the Karat Earth brand.
On August 7, 2024, KRT announced a regular quarterly cash dividend of $0.35 per share and a special cash dividend of $0.15 per share, both payable on August 30, 2024. These distributions reflect the company's strong cash position and positive outlook.
In terms of the trailing-12-month <a href="https://www.investopedia.com/terms/l/levered-free-cash-flow.asp">levered FCF</a> margin, KRT's 8% is 22.7% higher than the 6.52% industry average. Likewise, its 37.22% trailing-12-month gross profit is 18.7% higher than the 31.35% industry average. Furthermore, the stock's 1.37x trailing-12-month asset turnover ratio is 76.4% higher than the 0.78x industry average.
KRT's net sales for the second quarter ended June 30, 2024, came in at $112.60 million, indicating a 3.5% increase from the year-ago value. Its gross profit increased 3.7% year-over-year to $43.41 million. The company's net income attributable to KRT stood at $9.10 million. In addition, the adjusted EPS and EBITDA were $0.49 and $15.68 million, respectively.
For the quarter ending September 30, 2024, KRT's EPS and revenue are expected to increase 4.1% and 7% year-over-year to $0.49 and $112.93 million, respectively. Over the past nine months, the stock has gained 22.5% to close the last trading session at $25.74.
KRT's strong fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. It has an overall rating of B, equating to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
It has an A grade for Quality and a B for Stability. Within the A-rated <a href="https://stocknews.com/category/industrial-packaging/">Industrial – Packaging</a> industry, it is ranked #4 out of 19 stocks. To see KRT's Growth, Value, Momentum, and Sentiment ratings, <a href="https://stocknews.com/stock/KRT/">click here</a>.
Stock #1: Sealed Air Corporation (<a href="https://stocknews.com/stock/SEE/">SEE</a>)
SEE provides packaging solutions in the Americas, Europe, the Middle East, Africa, Asia, Australia, and New Zealand. It operates through two segments: Food and Protective.
On July 23, 2024, SEE announced a quarterly cash dividend of $0.20 per common share, payable on September 27, 2024. This dividend is for stockholders of record as of September 13, 2024.
In terms of the trailing-12-month levered FCF margin, SEE's 9.50% is 77.2% higher than the 5.36% industry average. Similarly, its 9.50% trailing-12-month Return on Total Capital is 91.5% higher than the 4.96% industry average. Also, the stock's 0.73x trailing-12-month asset turnover ratio is 10% higher than the 0.67x industry average.
During the fiscal second quarter that ended June 30, 2024, SEE's net sales amounted to $1.35 billion. Its adjusted EBITDA stood at $285.50 million, up 1.9% over the prior-year quarter. Additionally, its adjusted net earnings rose 4.5% from the year-ago value to $120.70 million, and its adjusted EPS grew 3.7% year-over-year to $0.83.
Street expects SEE's revenue for the quarter ending December 31, 2024, to increase marginally year-over-year to $1.38 billion. Its EPS for fiscal 2025 is expected to grow 6% year-over-year to $3.17. SEE surpassed the Street EPS estimates in each of the trailing four quarters. Over the past nine months, the stock has declined 2.8% to close the last trading session at $32.62.
SEE's promising outlook is reflected in its POWR Ratings. It has an overall rating of B, which translates to a Buy in our proprietary rating system.
It has a B grade for Value and Quality. It is ranked #2 in the Industrial – Packaging industry. To access additional ratings for SEE's Growth, Momentum, Stability, and Sentiment, <a href="https://stocknews.com/stock/SEE/">click here</a>.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>

<hr />
SEE shares were trading at $32.85 per share on Friday afternoon, up $0.23 (+0.71%). Year-to-date, SEE has declined -9.06%, versus a 17.37% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Abhishek Bhuyan</h2> <img src='https:/wp-content/uploads/2023/07/ABhuyan.jpg' style="float:left; padding:5px;width:125px;">Abhishek embarked on his professional journey as a financial journalist due to his keen interest in discerning the fundamental factors that influence the future performance of financial instruments.<a href="https://stocknews.com/authors/?author=abhishek-bhuyan">More...</a>The post <a href=https://stocknews.com/news/see-krt-why-these-2-food-packaging-stocks-are-worth-your-money/>Why These 2 Food Packaging Stocks Are Worth Your Money Now?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Why These 2 Food Packaging Stocks Are Worth Your Money Now?

Warning: KRT is at high risk of performing badly

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Press Releases

Karat Packaging Reports Fourth Quarter and Full Year 2023 Financial Results

Karat Packaging to Report 2024 First Quarter Financial Results and Host Conference Call on Thursday, May 9, 2024

Karat Packaging Board Declares Increase in Quarterly Cash Dividend

Karat Packaging Reports 2024 First Quarter Financial Results

Karat Packaging to Participate in Two June Investor Conferences

Global Consumer Packaged Goods Market Expected to Reach $244 Billion as a Result of Higher Consumption by Consumers

Karat Packaging to Report 2024 Second Quarter Financial Results and Host Conference Call on Thursday, August 8, 2024

Karat Packaging Board Declares Special Cash Dividend and Regular Quarterly Cash Dividend

Karat Packaging Reports 2024 Second Quarter Financial Results

Karat Packaging to Present at Lake Street's 8th Annual Best Ideas Growth Conference, September 12

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Karat Packaging (KRT) Forecast

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