Paneltech International Stock (OTC: PNLT)

Paneltech International (OTC:PNLT) Stock, Quote.Headers.trade-ideas

Paneltech International Holdings Inc is a manufacturer of solid surface phenolic resin paper composite branded Paperstone, Rainstone, Stonekast, ballistics web, branded Fortrex, overlays and provides transport services for the timber industry.

PANELTECH INTL HLDGS INC by Paneltech International Holdings, Inc.

Paneltech International Holdings Inc

Piper Sandler analyst Yasmeen Rahimi maintains Edgewise Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWTX#NASDAQ">EWTX</a>) with a Overweight and raises the price target from $48 to $51.

News

Price Target

Analyst Ratings

EWTX

Piper Sandler Maintains Overweight on Edgewise Therapeutics, Raises Price Target to $51

Piper Sandler analyst Brian Mullan maintains Chipotle Mexican Grill (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) with a Neutral and raises the price target from $56 to $59.

Piper Sandler Maintains Neutral on Chipotle Mexican Grill, Raises Price Target to $59

Investment giant&nbsp;BlackRock, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) shares are trading higher after the company <a target="_blank" href="https://s24.q4cdn.com/856567660/files/doc_financials/2024/Q3/BLK-3Q24-Earning-Release.pdf" rel="noreferrer noopener">reported&nbsp;</a>third-quarter results.
Revenue growth of 15% Y/Y to $5.197 billion, beating the consensus of $5.007 billion. Investment advisory, administration fees, and securities lending revenues increased to $4.030 billion from $3.681 billion a year ago, led by positive organic base fee growth and the impact of market beta on average AUM.
Technology services revenue decreased to&nbsp;$403 million from&nbsp;$407 million the prior year, primarily due to the impact of several large client renewals of eFront &#8220;on-premises&#8221; licenses.
BlackRock stated that the net inflow stood at $221 billion in the quarter, resulting in a 5% organic base fee growth. Adjusted operating income rose 26% Y/Y to $2.13 billion, with the margin expanding to 45.8% from 42.3% a year ago.
Adjusted EPS increased&nbsp;5% Y/Y to&nbsp;$11.46,&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">beating the consensus of&nbsp;$10.38.</a>
Total AUM stood at $11.5 trillion, up $2.4 trillion year-over-year, driven by net inflows of $456 billion and positive market movements.
Related: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41286451/blackrock-gears-up-for-q3-print-here-are-the-recent-forecast-changes-from-wall-streets-most-accurat" rel="noreferrer noopener">BlackRock Gears Up For Q3 Print; Here Are The Recent Forecast Changes From Wall Street&#8217;s Most Accurate Analysts</a>
BlackRock repurchased shares worth $375 million in the quarter. This month, the company closed the acquisition of Global Infrastructure Partners (GIP), adding $116 billion in client assets under management (AUM) and <a href="https://www.benzinga.com/pressreleases/24/10/b41117533/blackrock-completes-acquisition-of-global-infrastructure-partners" target="_blank" rel="noreferrer noopener">$70 billion in fee-paying AUM</a>.
Laurence D. Fink, Chairman and CEO, said, &#8220;Through coordinated investments and initiatives, we are evolving our private markets capabilities to best serve our clients. We&#8217;re already seeing the power of BlackRock and GIP together as we drive access to the enormous investment potential of infrastructure, especially to support AI innovation.&#8221;
&#8220;Our relentless focus on clients, growth mindset, and willingness to evolve has generated a compounded annual total return of over 20% for our shareholders since our IPO 25 years ago, well in excess of broader markets.&#8221;
Investors can gain exposure to the stock via&nbsp;Fidelity Disruptive Finance ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FDFF#NASDAQ">FDFF</a>) and&nbsp;Capitol Series Trust The Nightview Fund NITE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NITE#NYSE">NITE</a>).
Price Action: BLK shares are up 1.46% at $969.50 premarket at the last check Friday.
Photo by rafapress on Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com//node/41288470" target="_blank" rel="noreferrer noopener">Wall Street On Backfoot As PPI Print, JPMorgan Earnings Loom: This Strategist Expects Positive Market Performance, But With Muted Returns</a></li>
</ul>

Earnings

Equities

Large Cap

Movers

FDFF

NITE

BlackRock's Steady Climb: Q3 Earnings Beat Projections, Assets Under Management Soars To $11.5T

Goldman Sachs analyst Brooke Roach reinstates VF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VFC#NYSE">VFC</a>) with a Neutral and announces $20 price target.

Initiation

Goldman Sachs Reinstates Neutral on VF, Announces $20 Price Target

B of A Securities analyst Neel Mitra upgrades Kinder Morgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) from Neutral to Buy and raises the price target from $23 to $27.

Upgrades

B of A Securities Upgrades Kinder Morgan to Buy, Raises Price Target to $27

Baird analyst Colin Sebastian maintains eBay (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>) with a Outperform and raises the price target from $62 to $70.

EBAY

Baird Maintains Outperform on eBay, Raises Price Target to $70

The completion of the merger process will include a reverse AGBA stock split to remain in compliance with Nasdaq rules in connection with the merger. The reverse split is expected to take effect after the close of business on or about October 14, 2024.

AGBA

AGBA, Triller Expect Merger To Close On October 14, 2024 Subject To Final Nasdaq Approval

<ul>
<li>Treatment with denifanstat achieved statistically significant and clinically meaningful improvements in disease activity, MASH resolution and fibrosis.</li>
<li>Results support advancement of denifanstat into Phase 3 development</li>
</ul>

Biotech

Health Care

General

SGMT

Sagimet Biosciences Says Phase 2B FASCINATE-2 Trial Results Of Denifanstat Versus Placebo In Metabolic-dysfunction Associated Steatohepatitis Patients With Stage 2 Or Stage 3 Fibrosis Were Published In The Lancet Gastroenterology & Hepatology

BRKR

Bruker Announced The Formation Of A New Division, Bruker Spatial Biology Bringing Together In The Two Businesses Of NanoString Technologies And Canopy Biosciences, Along With Its Subsidiary Bruker Spatial Genomics (Formerly Acuity Spatial Genomics)

The company projects the softness in&nbsp;China&nbsp;will persist through the remainder of 2024.

Guidance

A. O. Smith Reports Preliminary Q3 EPS Of $0.82 (Est $0.95), Decrease Of 9% Y/Y

A. O. Smith Cuts FY24 EPS Guidance From $3.95 - $4.10 To $3.70 - $3.85, Est $4.06

Buybacks

JPMorgan CEO Dimon Says 'On share repurchases, given that market levels are at least slightly inflated, we maintain our modest pace of buybacks, although we reserve the right to adjust this at any time'

A. O. Smith Reports Preliminary Q3 Sales Of $903M (Est $957.73M), Down 4% Y/Y, Due To Lower Sales In China And North America Water Heating

U.S. index futures point to a modestly lower opening on Friday as traders hope for better tidings on the wholesale prices front. Thursday&#8217;s<a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41270761/september-inflation-hotter-than-expected-jobless-claims-spike-the-most-in-over-a-"> slightly hotter-than-expected consumer price inflation data</a> kept sentiment subdued throughout the session before the major averages closed modestly lower. Following the inflation data, Harris Financial Group Managing Partner Jamie Cox said, &#8220;Disinflation continues, but anyone who thought the Fed was going to lower rates by another .50 basis points in November is dead wrong.&#8221;
&#8220;When interest rates aren't high enough to lower growth, they aren't high enough to stifle inflation completely either. &nbsp;The Fed will lower rates, but at a measured pace from here,&#8221; he added.
Tesla, Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Robotaxi event failed to kickstart a rally in the stock. JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) is set to kickstart big bank earnings this season and its earnings are seen as a barometer of how healthy the sector is.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.32%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.19%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.16%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.43%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Friday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) edged down 0.10% to $575.53 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) moved down 0.20% to $491.60, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
With inflation readings coming slightly ahead of expectations across the board and jobless claims jumping to the highest in over a year due to Hurricane Helene, stocks opened Thursday&#8217;s session lower. The reports sent bond yields surging higher. 
The 30-stock Dow Jones Industrial Average languished in the red throughout the session, while the tech-heavy Nasdaq Composite Index and the broader S&amp;P 500 Index remained below the flat for the bulk of the day. 
In the process, the Dow and the S&amp;P 500 Index pulled back from their record highs. 
All but three of the S&amp;P 500 sector classes ended in the red, with the holdouts being energy, IT and material stocks,
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.05%</td>
<td>18,282.05</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>0.21%</td>
<td>5,780.05</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-0.14%</td>
<td>42,454.12</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.55%</td>
<td>2,188.42</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
LPL Chief Technical Strategist Adam Turnquist weighed in on the bull market, which is completing two years on Oct. 12. Since then, the S&amp;P 500 has gained 62% while registering 44 record highs, he noted. 
The strategist said low volatility has been a welcome personality trait of this bull market. The maximum drawdown for the S&amp;P 500 since its Oct. 12, 2022, closing low has only been 10.3%, running below the average maximum drawdown of all bull markets of -14.2%, he added.
Looking ahead, Turnquist said most bull markets remain bull markets into their third year of life. Since 1950, the duration of a bull market has averaged 61 months, excluding the current bull market, with the shortest lasting for 21 months running from March 2020 to January 2022, he said.
That said, the current 27.2% annualized return is running relatively high compared to other bull markets, Turnquist said. &#8220;History implies that if this bull market continues, investors should expect positive, but likely more muted annualized returns going forward,&#8221; he added.

&quot;Times New Roman&quot;;color:#111111;mso-font-kerning:18.0pt">See also: <a style="font-size: revert;" href="https://www.benzinga.com/money/best-futures-trading-software">
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Upcoming Economic Data
<ul>
<li>The Labor Department is scheduled to release the producer price inflation report for September at 8:30 a.m. EDT. The headline and core producer prices may have increased 0.1% and 0.2%, respectively, in September. This compares to the 0.2% and 0.3% rates in August. The annual rates of headline and core producer price inflation are expected at 1.6% and 2.7%, respectively, versus 1.7% and 2.4% in August.</li>
<li>Among the Fed officials speaking on Friday are:
<ul>
<li>Chicago Fed President Austan&nbsp;Goolsbee: 9:45 a.m. EDT</li>
<li>Dallas Fed President Lorie Logan: 10:45 a.m. EDT</li>
<li>Federal Reserve Governor Michelle Bowman: 1:10 p.m. EDT</li>
</ul>
</li>
<li>The University of Michigan&#8217;s preliminary consumer sentiment index for October at 10 a.m. EDT. The headline consumer sentiment index is expected to rise from 70.1 in September to 71 in October. Traders may also focus on the one-, two- and five-year inflation expectations readings.</li>
</ul>
Stocks In Focus:
<ul>
<li>Tesla plunged for 5.60% <a href="https://benzinga.grsm.io/register174">in premarket trading</a> following the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41286875/tesla-analysts-rave-over-cybercabs-design-cost-advantage-but-production-timeline-sp">company&#8217;s Robotaxi event.</a> Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) and Lyft, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>), which offer ride-hailing services, moved in sympathy.</li>
<li>BlackRock, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>), JPMorgan, Wells Fargo &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), Fastenal Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FAST#NASDAQ">FAST</a>) and Bank of New York Mellon Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) are among the notable companies due to <a href="https://www.benzinga.com/calendars/earnings">report their quarterly results ahead of the market open.</a></li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures fell after Thursday&#8217;s strong advance, while gold futures firmed up. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) traded nearly flat under $61K. The 10-year Treasury note yield was little changed at 4.092%.
Sentiment in Asia was muted as China stocks fell sharply and the U.S inflation data surprised to the upside. The Hong Kong market was closed on account of a public holiday. 
The European markets were mixed, with traders reacting to mostly weak data released by the U.K. 
Read Next:
<ul>
<li><a href="https://www.benzinga.com/etfs/sector-etfs/24/10/41282123/oil-rises-over-3-hits-76-as-middle-east-tensions-mount-israel-strikes-un-peacekeeper-bases-in-le">Oil Rises Over 3%, Hits $76 As Middle East Tensions Mount: Israel Strikes UN Peacekeeper Bases In Lebanon, Threats Against Gulf Oil Facilities Emerge</a></li>
</ul>
Image Via Shutterstock

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UBER

Wall Street On Backfoot As PPI Print, JPMorgan Earnings Loom: This Strategist Expects Positive Market Performance, But With Muted Returns

JPMorgan CEO Jamie Dimon Says We Have Extraordinarily Strong Balance Sheet

HC Wainwright &amp; Co. analyst Yi Chen reiterates Alpha Tau Medical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRTS#NASDAQ">DRTS</a>) with a Buy and maintains $9 price target.

Reiteration

DRTS

HC Wainwright & Co. Reiterates Buy on Alpha Tau Medical, Maintains $9 Price Target

JPMorgan Chase Q3 Reported Net Revenue $42.654B Beat $41.649B Estimate

Earnings Beats

JPMorgan Chase Q3 2024 GAAP EPS $4.37 Beats $4.00 Estimate, Managed Net Revenue $43.315B

Fastenal (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FAST#NASDAQ">FAST</a>) reported quarterly earnings of $0.52 per share which beat the analyst consensus estimate of $0.51 by 1.96 percent. This is unchanged from the same period last year. The company reported quarterly sales of $1.910 billion which beat the analyst consensus estimate of $1.908 billion by 0.11 percent. This is a 3.47 percent increase over sales of $1.846 billion the same period last year.

Fastenal Q3 2024 GAAP EPS $0.52 Beats $0.51 Estimate, Sales $1.910B Beat $1.908B Estimate

HC Wainwright &amp; Co. analyst Ed Arce reiterates Mirum Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MIRM#NASDAQ">MIRM</a>) with a Buy and maintains $66 price target.

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Paneltech International

Paneltech International (PNLT) Forecast

Paneltech International (OTC:PNLT) Stock, Quote.Headers.trade-ideas