Latest news for Prosegur Compania De (OTC:PGCSF) Stock

Prosegur Compania De Seguridad SA is a security company. The company is organized into segments that include security, cash, alarms, cybersecurity, and AVOS. The company generates majority of its revenue from the Cash segment which is engaged in the transportation, storage, safekeeping, counting, and classification of coins and bank notes, deeds, securities, and other objects that require special protection due to their economic value or risk, and exchange and currency service activities.

PROSEGUR CIA DE SECURIDAD by Prosegur Cia De Securidad SA

Prosegur Compania De Seguridad SA

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BENF

Beneficient shares are trading higher after the company announced its subsidiary, Beneficient Company Holdings, consummated a previously announced transaction pursuant to which approximately $126 million of its preferred equity was redesignated as non-redeemable.

Truist Securities analyst Jake Bartlett downgrades Dine Brands Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIN#NYSE">DIN</a>) from Buy to Hold and lowers the price target from $66 to $37.

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Truist Securities Downgrades Dine Brands Global to Hold, Lowers Price Target to $37

Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) is ramping up its 2nm technology development at home and beyond despite odds ranging from geopolitical tensions to supply chain constraints to natural calamities like earthquakes and hurricanes.
The contract chipmaker&#8217;s 2nm technology commercialization at the new Baoshan plant in Hsinchu is still on track for 2025.
According to the supply chain, the price for Huguoshengshan 2nm wafers will be double that of the 4nm and 5nm wafers, exceeding $30,000, highlighting its moat translating into the pricing power, the Commercial Times <a target="_blank" href="https://www.ctee.com.tw/news/20241004700052-439901" rel="noreferrer noopener">reports</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/10/41168777/whats-going-on-with-nvidia-stock-on-thursday" rel="noreferrer noopener">What&#8217;s Going On With Nvidia Stock On Thursday?</a>
The <a target="_blank" href="https://www.benzinga.com/news/24/10/41163500/whats-going-on-with-taiwan-semiconductor-sock-on-thursday" rel="noreferrer noopener">contract chipmaker&#8217;s advanced</a> manufacturing remains in high demand for artificial intelligence and smartphones, but it faces pressure from industry selloffs and supply issues.
Investments in foundries are substantial; research institutions estimate that 3nm process R&amp;D costs $4 billion to $5 billion, while building a 3nm factory costs at least $15 billion to $20 billion.
Taiwan Semiconductor eyes <a target="_blank" href="https://www.benzinga.com/government/24/10/41140484/taiwan-semiconductor-has-soared-96-but-geopolitical-risks-persist" rel="noreferrer noopener">2nm chip production</a> in at least&nbsp;2 US fabs it is constructing.&nbsp; It committed over $65 billion toward the Arizona facility. The company&#8217;s critical clients at its&nbsp;Arizona plant&nbsp;include Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Advanced Micro Devices, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), and Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), the Nikkei Asia <a target="_blank" href="https://asia.nikkei.com/Business/Tech/Semiconductors/TSMC-Amkor-to-bring-advanced-chip-packaging-to-U.S.-for-first-time#:~:text=The%20Taiwanese%20chip%20giant%20has,services%20from%20Amkor's%20planned%20facility." rel="noreferrer noopener">reports</a>.&nbsp;
<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/2024/10/04041034/newplot-4.png" alt="" class="wp-image-580135" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04041034/newplot-4.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04041034/newplot-4-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
The contract chipmaker recently <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41175342/amkor-and-tsmc-to-expand-partnership-and-collaborate-on-advanced-packaging-in-arizona" rel="noreferrer noopener">expanded its collaboration</a> with chip packaging and testing service provider Amkor Technology, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMKR#NASDAQ">AMKR</a>) to migrate advanced packaging and test capabilities to Arizona to tap the AI frenzy. Amkor told Nikkei Asia it would invest in a $2 billion chip packaging and testing facility in Peoria, Arizona.
Taiwan Semiconductor and Amkor will jointly develop CoWoS (Chip on Wafer on Substrate) and Integrated Fan-Out (InFO).
Nvidia leverages Taiwan Semiconductor&#8217;s CoWoS chip packaging technology to boost computing power for its high-performance graphics processors. Apple employed InFO chip packaging tech for processors in its iPhone and Macbook core chips.
Taiwan Semiconductor stock is up over 107% in the last 12 months.
Investors can gain exposure to the semiconductor ETFs through EA Series Trust Strive US Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOC#NYSE">SHOC</a>) and Columbia Semiconductor and Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SEMI#NYSE">SEMI</a>).
Price Action:&nbsp;TSM stock is down 0.21% at $179.10 premarket at last check Friday.
Also Read:
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<li><a href="https://www.benzinga.com/news/24/10/41146507/apples-iphone-16-series-leads-growth-but-high-end-model-preference-declines-analyst" target="_blank" rel="noreferrer noopener">Apple&#8217;s iPhone 16 Series Leads Growth, But High-End Model Preference Declines: Analyst</a></li>
</ul>
Photo by wakamatsu.h via Shutterstock

Emerging Markets

Tech

Media

AAPL

AMKR

NVDA

SEMI

EA Series Trust Strive U.S. Semiconductor ETF

SHOC

What's Going On With Taiwan Semiconductor Stock On Friday?

China has made the bold move of <a href="https://www.benzinga.com/opinion/24/09/41053956/a-win-either-way-trade-on-chinas-new-stimulus-package">copiously stimulating the economy </a>and two economists weighed in on the development in two separate opinion pieces contributed to Project Syndicate. 
The Largesse: The Chinese central bank announced a 50 basis-point cut to its mandatory reserve ratio and cut its benchmark policy rate by 0.2 percentage points. The People&#8217;s Bank of China also cut rates on existing mortgages by 0.5% points and reduced the minimum down payment on second homes from 25% to 15%. Governor Pan Gongsheng revealed plans to boost the stock market by providing institutional investors with liquidity support.
Delayed Response? Angela Zhang, a law professor at the University of Southern California and an expert in Chinese policies and regulations, <a href="https://www.project-syndicate.org/commentary/china-new-stimulus-is-not-enough-to-deliver-lasting-prosperity-by-angela-huyue-zhang-2024-10?utm_source=Project+Syndicate+Newsletter&amp;utm_campaign=0d95c91f39-ECON-NEWSLETTER_2024-09_05_COPY_02&amp;utm_medium=email&amp;utm_term=0_-e4393264df-%5BLIST_EMAIL_ID%5D&amp;mc_cid=0d95c91f39&amp;mc_eid=5b39130e23">noted</a> that the latest stimulus announced in late September is a delayed response to the looming deflation threat, as warning signs have been evident for over a year.
The professor, however, gave the benefit of the doubt to China. The government was reluctant to go bold for a few legitimate reasons, the chief of which is its realization that the nation should shift away from real-estate and infrastructure investment-fueled growth to more sustainable sources of growth, like high-tech innovation.
The government was wary of the undesirable effects of the massive 2008 stimulus, which led to a debt pileup among local government and state-owned enterprises, Zhang said. It did not favor consumption-driven growth and instead wanted to transform itself as a &#8220;self-reliant industrial and technological powerhouse.&#8221; she added.
Authorities chose to go in with modest incremental rather than go full throttle but did not find success with this strategy, Zhang said. 
See Also: <a href="https://www.benzinga.com/money/best-chinese-stocks">Best Chinese Stocks</a>
Economist Yu Yongding, who had previously served on the PBoC&#8217;s monetary policy committee, said in a separate op-ed that data out of China, including retail sales and fixed asset investment, were weaker in August. Net exports rose about 8% but its contribution was only 2.5% of the GDP.
Therefore, the typically strong fourth quarter of the year was going to be weak this time around, necessitating significant government intervention to hit the 5% 2024 GDP growth target, he said. The economist thinks China&#8217;s &#8220;economic miracle of 10%+ growth is over. That said, with &#8220;wise macroeconomic policy, market-oriented reforms, and a genuine commitment to opening up its economy,&#8221; the economy should be able to maintain a solid growth rate of 5-6% for the foreseeable future, he added.
Forced Action: Zhang said, &#8220;China is staring down the barrel of a Japan-style &#8216;lost decade&#8217; of deflation and stagnation. Although a reactionary move, China has fully mobilized its monetary and fiscal tools to rescue the faltering economy, she said, calling the latest actions the &#8220;right move.&#8221;
The professor noted that China&#8217;s stock market has responded with the biggest weekly rally since 2008. And investors expect more to follow.
Zhang, however, flagged a looming risk. &#8220;The fear now is that this sudden injection of capital into the economy could create stock-market bubbles, sowing the seeds of the next financial crisis,&#8221; she said. To avoid such a scenario, &#8220;China must take steps to minimize the unintended consequences of its policy interventions, such as creating mechanisms for obtaining real-time, accurate feedback that can guide mid-course corrections before bubbles form and crises erupt,&#8221; she said.
&#8220;More fundamentally, China must break its habit of hasty and dramatic policy shifts, based on top-down decrees, and return to the approach that served it so well in the past: gradual and incremental reforms, based on decentralized policy experimentation.&#8221;
Yu said PBoC&#8217;s actions alone might not suffice to revitalize the Chinese economy and the finance ministry now has to act. While stating that a hasty act could prove counterproductive and so to kickstart growth in the final three months of the year, the economist said &#8220;the government should announce a comprehensive large-scale stimulates package as soon as possible to use the "announcement effect" to boost morale and raise public confidence.
The iShares MSCI China ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCHI#NYSE">MCHI</a>) is up an incremental 3.49%<a href="https://benzinga.grsm.io/register174"> in premarket trading </a>on Friday to $56.91, according to Benzinga Pro data. Since Sept. 20, the ETF is up about 29%.
The Chinese Shanghai Composite Index gained about 22% between Sept. 20 and Sept. 30 before it closed for a weeklong National Day holiday.
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41032804/chinas-stimulus-sparks-optimism-3-large-cap-stocks-with-analyst-buy-ratings">China&#8217;s Stimulus Sparks Optimism: 3 Large-Cap Stocks With Analyst Buy Ratings</a></li>
</ul>
Image via Shutterstock

Equities

Global

Economics

Markets

MCHI

China Was Tipping Into A Japan-Style 'Lost Decade' Of Deflation And Stagnation Before Late-September Stimulus Announcements, Says Legal Expert

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a<a href="https://www.benzinga.com/yield-investments"> high dividend payout</a>.
Benzinga readers can review the latest analyst takes on their favorite stocks by visiting <a href="https://www.benzinga.com/analyst-stock-ratings">Analyst Stock Ratings</a> page. Traders can sort through Benzinga's extensive database of analyst ratings, including <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">by analyst accuracy</a>.
Below are the ratings of the most accurate analysts for three high-yielding stocks in the energy sector.
<h3 class="wp-block-heading">Nordic American Tankers Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NAT#NYSE">NAT</a>)</h3>
<ul>
<li>Dividend Yield: 12.63%</li>
<li>Jefferies analyst Omar Nokta downgraded the stock from Buy to Hold with a price target of $4 on Sept. 12. This analyst has an accuracy rate of 76%.</li>
<li>Evercore ISI Group analyst Jonathan Chappell maintained an In-Line rating and slashed the price target from $4.5 to $4 on Aug. 30. This analyst has an accuracy rate of 74%.</li>
<li>Recent News: On Aug. 29, Nordic American Tanker posted better-than-expected quarterly earnings.</li>
<li>Benzinga Pro's real-time newsfeed alerted to <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent100424&amp;t=be2bearmibe3na1">latest NAT news</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent100424&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="915" height="845" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04074601/image-19.png" alt="" class="wp-image-580465" style="width:633px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04074601/image-19.png 915w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04074601/image-19-300x277.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04074601/image-19-768x709.png 768w" sizes="(max-width: 915px) 100vw, 915px" /></a></figure>
<h3 class="wp-block-heading">DHT Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHT#NYSE">DHT</a>)</h3>
<ul>
<li>Dividend Yield: 8.97%</li>
<li>Stifel analyst Benjamin Nolan maintained a Hold rating and raised the price target from $12 to $13 on July 24. This analyst has an accuracy rate of 65%.</li>
<li>Jefferies analyst Omar Nokta upgraded the stock from Hold to Buy and raised the price target from $11 to $14 on March 21. This analyst has an accuracy rate of 76%</li>
<li>Recent News: On Aug. 12, DHT Holdings reported better-than-expected second-quarter sales results.</li>
<li>Benzinga Pro's real-time newsfeed alerted to <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent100424&amp;t=be2bearmibe3na1">latest DHT news.</a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent100424&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="902" height="837" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04074835/image-20.png" alt="" class="wp-image-580467" style="width:626px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04074835/image-20.png 902w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04074835/image-20-300x278.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04074835/image-20-768x713.png 768w" sizes="(max-width: 902px) 100vw, 902px" /></a></figure>
<h3 class="wp-block-heading">CVR Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVI#NYSE">CVI</a>)</h3>
<ul>
<li>Dividend Yield: 8.02%</li>
<li>JP Morgan analyst Phil Gresh maintained an Underweight rating and cut the price target from $26 to $23 on Oct. 2. This analyst has an accuracy rate of 60%.</li>
<li>Mizuho analyst Nitin Kumar maintained a Neutral rating and cut the price target from $27 to $25 on Sept. 16. This analyst has an accuracy rate of 63%.</li>
<li>Recent News: On July 29, CVR Energy posted a profit for the second quarter.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent100424&amp;t=be2bearmibe3na1">trend in CVI stock</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent100424&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="922" height="836" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04074922/image-2-8.png" alt="" class="wp-image-580469" style="width:581px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04074922/image-2-8.png 922w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04074922/image-2-8-300x272.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/04074922/image-2-8-768x696.png 768w" sizes="(max-width: 922px) 100vw, 922px" /></a></figure>
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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</div>
</figure>
Read More: 
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<li><a href="https://www.benzinga.com/news/earnings/24/10/41180069/dow-tumbles-nearly-200-points-amid-growing-middle-east-concerns-investor-optimism-declines-fear-ind">Dow Tumbles Nearly 200 Points Amid Growing Middle East Concerns: Investor Optimism Declines, Fear Index Remains In &#8216;Greed&#8217; Zone</a></li>
</ul>

Dividends

Trading Ideas

Wall Street's Most Accurate Analysts Give Their Take On 3 Energy Stocks Delivering High-Dividend Yields

Raymond James analyst Laura Prendergast initiates coverage on Mural Oncology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MURA#NASDAQ">MURA</a>) with a Strong Buy rating and announces Price Target of $18.

Initiation

MURA

Raymond James Initiates Coverage On Mural Oncology with Strong Buy Rating, Announces Price Target of $18

Electric vehicle manufacturer Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) shares are trading lower after the company lowered its annual production guidance due to a supply shortage of <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">shared components on the R1 and RCV platforms.</a>
The company produced 13,157 vehicles at its manufacturing facility in Normal, Illinois, and delivered 10,018 <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41181218/rivian-releases-q3-production-and-delivery-figures-updates-2024-annual-production-outlook-and-sets" rel="noreferrer noopener">cars during the same period.</a>
Rivian is experiencing a supply shortage that began in the third quarter of this year and has intensified in recent weeks.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40985825/tesla-and-chinese-ev-startups-outpace-toyota-volkswagen-in-critical-software-race-report" rel="noreferrer noopener">Tesla And Chinese EV Startups Outpace Toyota, Volkswagen In Critical Software Race: Report</a>
In response, the company is revising its annual production guidance to a range of 47,000 to 49,000 vehicles (prior 57,000).
Additionally, Rivian is reaffirming its annual delivery outlook, anticipating low single-digit growth compared to 2023, with expected deliveries between 50,500 and 52,000 vehicles.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, RIVN stock has lost over 54% in the past year. Investors can gain exposure to the stock via&nbsp;Renaissance IPO ETF(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IPO#NYSE">IPO</a>) and&nbsp;First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCLN#NASDAQ">QCLN</a>).
Earlier this week, the company&#8217;s top peer, Tesla, posted third-quarter deliveries and production numbers.
Tesla<a target="_blank" href="https://www.benzinga.com/news/24/10/41141444/tesla-stock-plunges-3-despite-q3-deliveries-exceeding-consensus-and-growing-year-over-year" rel="noreferrer noopener"> reported third-quarter deliveries&nbsp;</a>of 462,890 vehicles, up 6.4% year-over-year and up 4.3% quarter-over-quarter. The company reported third-quarter production of 469,796 vehicles, up 9.1% year-over-year and up 14.4% quarter-over-quarter.
Price Action: RIVN shares are trading lower by 8.16% to $9.90 premarket at last check Friday.
Photo by Tada Images on Shutterstock
Read Also:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41148891/jobs-report-in-focus-will-slower-growth-push-the-fed-toward-november-interest-rate-" target="_blank" rel="noreferrer noopener">Jobs Report In Focus: Will Slower Growth Push The Fed Toward November Interest Rate Cut?</a></li>
</ul>

Guidance

Movers

General

First Trust NASDAQ Clean Edge Green Energy Index Fund

QCLN

RIVN

Rivian's Production Forecast Hits Bump, Supply Shortage Sends Shares Tumbling

Oppenheimer analyst Ken Wong maintains Guidewire Software (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWRE#NYSE">GWRE</a>) with a Outperform and raises the price target from $185 to $200.

GWRE

Oppenheimer Maintains Outperform on Guidewire Software, Raises Price Target to $200

Morgan Stanley analyst Vincent Sinisi maintains RPM Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RPM#NYSE">RPM</a>) with a Equal-Weight and raises the price target from $107 to $125.

Morgan Stanley Maintains Equal-Weight on RPM Intl, Raises Price Target to $125

Morgan Stanley analyst Robert Kad upgrades Williams Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMB#NYSE">WMB</a>) from Equal-Weight to Overweight and raises the price target from $52 to $58.

Upgrades

Morgan Stanley Upgrades Williams Companies to Overweight, Raises Price Target to $58

IMRN

Trading Halt: Halt status updated at 7:45:00 AM ET: Quotation Resumption: News and Resumption Times

APOG

Apogee Enterprises shares are trading higher after the company reported better-than-expected Q2 financial results and raised its FY25 adjusted EPS guidance above estimates.

Apogee Enterprises, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APOG#NASDAQ">APOG</a>) shares are trading higher after the company reported&nbsp;second-quarter&nbsp;sales of&nbsp;$342.4 million,&nbsp;beating the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41181566/apogee-enterprises-reports-fiscal-2025-second-quarter-results" rel="noreferrer noopener">consensus&nbsp;estimate of&nbsp;$335.3 million</a>.
Revenue fell&nbsp;3.2%&nbsp;due to lower volume. Gross margin improved by 140 basis points Y/Y to&nbsp;28.4%, led by better pricing, a favorable project mix in Architectural Services, lower material costs, and reduced insurance expenses.
Adjusted operating income increased 6.4% Y/Y to $43.1 million, while the operating margin improved by 110 basis points to 12.6%.
Adjusted EBITDA for the quarter increased&nbsp;3.9%&nbsp;Y/Y to&nbsp;$53.1 million&nbsp;with an adjusted EBITDA margin of&nbsp;15.5%.
Adjusted EPS rose&nbsp;5.9%&nbsp;Y/Y to&nbsp;$1.44,&nbsp;<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beating the consensus of&nbsp;$1.23</a>.
Apogee held&nbsp;$51.0 million&nbsp;in cash and cash equivalents as of August 31.
Dividend: The Board of Directors declared a quarterly cash dividend of $0.25 per share, payable on November 6 to shareholders of record <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41174606/apogee-enterprises-declares-quarterly-cash-dividend" rel="noreferrer noopener">as of October 22</a>.
Year-to-date, the company has returned $25.9 million to shareholders through share repurchases and dividend payments.
Outlook: Apogee&nbsp;raised the FY25 adjusted EPS&nbsp;outlook&nbsp;to&nbsp;$4.90 &#8211; $5.20&nbsp;(vs. consensus of&nbsp;$4.82) <a target="_blank" href="https://www.benzinga.com/news/earnings/24/06/39527659/why-architectural-services-company-apogee-shares-are-trading-higher-today" rel="noreferrer noopener">from&nbsp;$4.65 &#8211; $5.00 earlier</a>.
Apogee reiterated its outlook for FY25&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">net sales decline of&nbsp;4%&nbsp;to&nbsp;7%</a>.
The company continues to expect a total of&nbsp;$15 million to&nbsp;$16 million of pre-tax charges in connection with Project Fortify, leading to annualized cost savings of&nbsp;$13 million to&nbsp;$14 million in the year.&nbsp;
It continues to expect to achieve&nbsp;60%&nbsp;of these savings in FY25 and the rest in FY26. Apogee anticipates capital expenditures of&nbsp;$40 million &#8211; $50 million&nbsp;in FY25.
Ty R. Silberhorn, Chief Executive Officer, said, &#8220;The momentum we&#8217;ve established in the business, combined with the recently announced acquisition of UW Solutions, position us for continued success as we move forward.&#8221;
Investors can gain exposure to the stock via&nbsp;ProShares Russell 2000 Dividend Growers ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/SMDV#BATS">SMDV</a>).
Price Action: APOG shares are up 9.601% at $75.00 premarket at the last check Friday.
Read Next:
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<li><a href="https://www.benzinga.com/news/earnings/24/10/41181506/us-stocks-on-edge-as-traders-brace-for-crucial-jobs-report-why-this-fund-manager-says-ai-stocks-jus" target="_blank" rel="noreferrer noopener">US Stocks On Edge As Traders Brace For Crucial Jobs Report: Why This Fund Manager Says AI Stocks Just Received Big Boost</a></li>
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Earnings

Buybacks

Small Cap

SMDV

Architectural Services Company Apogee Smashes Q2 Expectations, Hikes FY25 EPS Outlook Despite Revenue Dip

Goldman Sachs analyst David Roman initiates coverage on LivaNova (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LIVN#NASDAQ">LIVN</a>) with a Buy rating and announces Price Target of $65.

LIVN

Goldman Sachs Initiates Coverage On LivaNova with Buy Rating, Announces Price Target of $65

LFCR

Lifecore Biomedical Reiterates FY25 Outlook: Sees Revenues Of  $126.5M-$130M (Estimate: $127.56M) And Adjusted EBITDA Of $19M-$21M

Goldman Sachs analyst David Roman initiates coverage on iRhythm Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRTC#NASDAQ">IRTC</a>) with a Neutral rating and announces Price Target of $78.

IRTC

Goldman Sachs Initiates Coverage On iRhythm Technologies with Neutral Rating, Announces Price Target of $78

Goldman Sachs analyst David Roman initiates coverage on Tandem Diabetes Care (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TNDM#NASDAQ">TNDM</a>) with a Neutral rating and announces Price Target of $46.

TNDM

Goldman Sachs Initiates Coverage On Tandem Diabetes Care with Neutral Rating, Announces Price Target of $46

Lifecore Biomedical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LFCR#NASDAQ">LFCR</a>) reported quarterly losses of $(0.53) per share which missed the analyst consensus estimate. This is a 29.27 percent decrease over losses of $(0.41) per share from the same period last year. The company reported quarterly sales of $24.70 million which beat the analyst consensus estimate of $23.19 million by 6.53 percent. This is a 0.75 percent increase over sales of $24.52 million the same period last year.

Earnings Beats

Earnings Misses

Lifecore Biomedical Q1 EPS $(0.53) Misses $(0.49) Estimate, Sales $24.70M Beat $23.19M Estimate

European Union&#8217;s member states have expressed sufficient support for imposing <a href="https://www.benzinga.com/news/24/10/41143690/european-tariffs-on-chinas-ev-makers-could-backfire">definitive additional tariffs of up to 35.3%</a> on China-made battery electric vehicle imports, the European Commission said in a statement on Friday. 
What Happened: &#8220;Today, the European Commission&#8217;s proposal to impose definitive countervailing duties on imports of battery electric vehicles (BEVs) from China has obtained the necessary support from EU Member States for the adoption of tariffs,&#8221; the commission said. 
The commission added that it would continue to work with China to find an alternative solution. 
EU first announced that it would impose tariffs on China-made EVs in June, alleging that EV manufacturers in China benefit from &#8220;unfair subsidies&#8221; and that their cheaper offerings pose a threat to European manufacturers. Provisional duties were imposed in July. 
Potentially Impacted Stocks: The stocks that might potentially be affected by the definitive tariffs <a href="https://www.benzinga.com/news/24/09/40914629/china-warns-eu-tariffs-on-evs-will-harm-trade-with-germany">include</a>:
<ol>
<li>BYD Co Ltd. (OTCPK: BYDDY) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>): The Chinese EV giant exports significantly into Europe. In September alone, the company sold 33,012 units of its vehicles overseas, of which 30,512 were exported, including to Europe.</li>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>): Tesla, in addition to manufacturing within Germany, also imports vehicles into Europe from its gigafactory in Shanghai. EU has slapped an additional tariff of 7.8% on Tesla EVs made in China and sold in Europe.</li>
<li>Nio Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) and Xpeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>): Shanghai-based Nio and Guangzhou-based XPeng also export their vehicles from China into Europe.</li>
</ol>
Other automakers to be impacted by the tariffs include BMW, Volkswagen, and SAIC Motors.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
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<li><a href="https://www.benzinga.com/news/24/10/41135581/tesla-discontinues-cheapest-model-3-variant-entry-level-trim-now-starts-at-42-490" target="_blank" rel="noreferrer noopener">Tesla Discontinues Cheapest Model 3 Variant: Entry Level Trim Now Starts At $42,490</a></li>
</ul>
Photo courtesy: Shutterstock

BYDDF

BYDDY

TSLA

XPEV

Tesla, BYD, And Other EV Stocks To Watch As EU Votes To Approve Tariffs On Chinese EV Imports

Evercore ISI Group analyst Stephen Richardson downgrades Gulfport Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPOR#NYSE">GPOR</a>) from Outperform to In-Line and maintains the price target from $170 to $170.

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