RB Global (NYSE:RBA) Stock, Quote.Headers.trade-ideas

RB Global

Ritchie Bros Auctioneers

RB Global operates the world's largest auction for heavy equipment. The company started as a live auctioneer of industrial equipment; since then it has greatly expanded its operations to include the sale of construction, agricultural, oilfield, and transportation equipment. RB Global operates over 40 live auction sites in more than 12 countries, along with online marketplaces, including IronPlanet, Marketplace-E, and GovPlanet. Its agricultural auctions are frequently much smaller venues and can include liquidations of single farms. The company holds over 300 auctions yearly and sells $6 billion worth of equipment.

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RB Global (NYSE: RBA) shares ended the last trading session 8.9% higher at $79.12. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock&#39;s 5% loss over the past four weeks.

Strength Seen in RB Global: Can Its 8.9% Jump Turn into More Strength?

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RB Global Inc

RUBEAN AG AKTIEN O N by RUBEAN AG

RBAZ Bancorp Inc

RB Global's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBA#NYSE">RBA</a>) short percent of float has fallen 11.36% since its last report. The company recently reported that it has 6.40 million shares sold short, which is 3.98% of all regular shares that are available for trading. Based on its trading volume, it would take traders 7.78 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>RB Global Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725993020_0_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for RB Global has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing RB Global's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, RB Global's peer group average for short interest as a percentage of float is 4.34%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Peering Into RB Global's Recent Short Interest

BMO Capital analyst John Gibson initiates coverage on RB Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBA#NYSE">RBA</a>) with a Outperform rating and announces Price Target of $105.

Price Target

Initiation

BMO Capital Initiates Coverage On RB Global with Outperform Rating, Announces Price Target of $105

B of A Securities analyst Michael Feniger maintains RB Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBA#NYSE">RBA</a>) with a Neutral and raises the price target from $79 to $92.5.

B of A Securities Maintains Neutral on RB Global, Raises Price Target to $92.5

On August 20, it was revealed in an SEC filing that Darren Jeffrey Watt, Chief Legal Officer at RB Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBA#NYSE">RBA</a>) executed a significant exercise of company stock options.
What Happened: Watt, Chief Legal Officer at RB Global, exercised stock options for 2,915 shares of RBA stock. This information was disclosed in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0001046102/000095017024099289//Archives/edgar/data/1046102/000095017024099289/0000950170-24-099289-index.htm">U.S. Securities and Exchange Commission</a> on Tuesday. The exercise price of the options was $24.07 per share.
The Wednesday morning market activity shows RB Global shares down by 0.0%, trading at $83.38. This implies a total value of $172,888 for Watt's 2,915 shares.
<h3>All You Need to Know About RB Global</h3>
RB Global operates the world's largest auction for heavy equipment. The company started as a live auctioneer of industrial equipment; since then it has greatly expanded its operations to include the sale of construction, agricultural, oilfield, and transportation equipment. RB Global operates over 40 live auction sites in more than 12 countries, along with online marketplaces, including IronPlanet, Marketplace-E, and GovPlanet. Its agricultural auctions are frequently much smaller venues and can include liquidations of single farms. The company holds over 300 auctions yearly and sells $6 billion worth of equipment.
<h3>RB Global: A Financial Overview</h3>
Revenue Growth: RB Global's revenue growth over a period of 3 months has faced challenges. As of 30 June, 2024, the company experienced a revenue decline of approximately -0.94%. This indicates a decrease in the company's top-line earnings. When compared to others in the Industrials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Key Insights into Profitability Metrics:
<ul>
<li>
Gross Margin: The company maintains a high gross margin of 47.86%, indicating strong cost management and profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): RB Global's EPS lags behind the industry average, indicating concerns and potential challenges with a current EPS of 0.55.
</li>
</ul>
Debt Management: With a below-average debt-to-equity ratio of 0.84, RB Global adopts a prudent financial strategy, indicating a balanced approach to debt management.
Financial Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: With a lower-than-average P/E ratio of 45.81, the stock indicates an attractive valuation, potentially presenting a buying opportunity.
</li>
<li>
Price to Sales (P/S) Ratio: The current P/S ratio of 3.64 is above industry norms, reflecting an elevated valuation for RB Global's stock and potential overvaluation based on sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): At 14.93, the company's EV/EBITDA ratio outperforms industry norms, reflecting positive market perception. This positioning indicates optimistic expectations for the company's future performance.
</li>
</ul>
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
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<h3>Uncovering the Importance of Insider Activity</h3>
While insider transactions should not be the sole basis for making investment decisions, they can play a significant role in an investor's decision-making process.
Exploring the legal landscape, an "insider" is defined as any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as stipulated by Section 12 of the Securities Exchange Act of 1934. This encompasses executives in the c-suite and major hedge funds. These insiders are required to report their transactions through a Form 4 filing, which must be submitted within two business days of the transaction.
Highlighted by a company insider's new purchase, there's a positive anticipation for the stock to rise.
But, insider sells may not necessarily indicate a bearish view and can be motivated by various factors.
<h3>Deciphering Transaction Codes in Insider Filings</h3>
When it comes to transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> tend to focus on those in the open market, detailed in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S indicates a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0001046102">Check Out The Full List Of RB Global's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Chief Legal Officer At RB Global Exercises Options Worth $172K

Raymond James analyst Bryan Fast maintains RB Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBA#NYSE">RBA</a>) with a Outperform and raises the price target from $95 to $98.

Raymond James Maintains Outperform on RB Global, Raises Price Target to $98

RBC Capital analyst Arthur Nagorny maintains RB Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBA#NYSE">RBA</a>) with a Outperform and raises the price target from $93 to $99.

TSX:RBA

RBC Capital Maintains Outperform on RB Global, Raises Price Target to $99

Baird analyst Craig Kennison maintains RB Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBA#NYSE">RBA</a>) with a Outperform and raises the price target from $80 to $86.

Baird Maintains Outperform on RB Global, Raises Price Target to $86

WIIM

RB Global shares are trading higher after the company reported better-than-expected Q2 financial results and raised its FY24 adjusted EBITDA guidance. Also, the company increased its quarterly dividend.

Dividends

RB Global Increased Quarterly Dividend From $0.27 To $0.29

RB Global Sees FY24 Adjusted EBITDA Of $1.22B-$1.27B (Prior View: $1.20B-$1.26B)

RB Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBA#NYSE">RBA</a>) reported quarterly earnings of $0.94 per share which beat the analyst consensus estimate of $0.84 by 11.9 percent. This is a 10.59 percent increase over earnings of $0.85 per share from the same period last year. The company reported quarterly sales of $1.10 billion which missed the analyst consensus estimate of $1.13 billion by 3.01 percent. This is a 0.99 percent decrease over sales of $1.11 billion the same period last year.

Earnings Beats

Earnings Misses

RB Global Q2 Adj $0.94 Beats $0.84 Estimate, Sales $1.10B Miss $1.13B Estimate

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Shares of companies within the broader industrial sector are trading lower amid overall market weakness on US economic concerns. An economic slowdown could impact demand.

RB Global's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBA#NYSE">RBA</a>) short percent of float has risen 91.03% since its last report. The company recently reported that it has 9.56 million shares sold short, which is 5.96% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.92 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>RB Global Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721323821_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for RB Global has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing RB Global's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, RB Global's peer group average for short interest as a percentage of float is 3.99%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

RB Global's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBA#NYSE">RBA</a>) short percent of float has fallen 3.77% since its last report. The company recently reported that it has 3.69 million shares sold short, which is 2.3% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.24 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>RB Global Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1719252912_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for RB Global has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing RB Global's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, RB Global's peer group average for short interest as a percentage of float is 3.58%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

(RBA) - Analyzing RB Global's Short Interest

James F. Kessler, Chief Executive Officer at RB Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBA#NYSE">RBA</a>), executed a substantial insider sell on June 18, according to an SEC filing.
What Happened: Kessler's decision to sell 8,000 shares of RB Global was revealed in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0001046102/000095017024075083//Archives/edgar/data/1046102/000095017024075083/0000950170-24-075083-index.htm">U.S. Securities and Exchange Commission</a> on Tuesday. The total value of the sale is $647,280.
During Wednesday's morning session, RB Global shares down by 0.44%, currently priced at $80.07.
<h3>All You Need to Know About RB Global</h3>
RB Global operates the world's largest auction for heavy equipment. The company started as a live auctioneer of industrial equipment; since then it has greatly expanded its operations to include the sale of construction, agricultural, oilfield, and transportation equipment. RB Global operates over 40 live auction sites in more than 12 countries, along with online marketplaces, including IronPlanet, Marketplace-E, and GovPlanet. Its agricultural auctions are frequently much smaller venues and can include liquidations of single farms. The company holds over 300 auctions yearly and sells $6 billion worth of equipment.
<h3>Key Indicators: RB Global's Financial Health</h3>
Revenue Growth: RB Global displayed positive results in 3 months. As of 31 March, 2024, the company achieved a solid revenue growth rate of approximately 107.79%. This indicates a notable increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Industrials sector.
Holistic Profitability Examination:
<ul>
<li>
Gross Margin: The company maintains a high gross margin of 48.38%, indicating strong cost management and profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): RB Global's EPS is significantly higher than the industry average. The company demonstrates a robust bottom-line performance with a current EPS of 0.53.
</li>
</ul>
Debt Management: RB Global's debt-to-equity ratio is below the industry average at 0.88, reflecting a lower dependency on debt financing and a more conservative financial approach.
Market Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: The Price to Earnings ratio of 43.47 is lower than the industry average, indicating potential undervaluation for the stock.
</li>
<li>
Price to Sales (P/S) Ratio: The current P/S ratio of 3.5 is above industry norms, reflecting an elevated valuation for RB Global's stock and potential overvaluation based on sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): RB Global's EV/EBITDA ratio stands at 14.96, surpassing industry benchmarks. This places the company in a position with a higher-than-average market valuation.
</li>
</ul>
Market Capitalization Analysis: The company's market capitalization is above the industry average, indicating that it is relatively larger in size compared to peers. This may suggest a higher level of investor confidence and market recognition.
<a href="https://www.schwab.com/brokerage?aff=XEC">Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.</a>
<h3>The Impact of Insider Transactions on Investments</h3>
Insider transactions should be considered alongside other factors when making investment decisions, as they can offer important insights.
When discussing legal matters, the term "insider" refers to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as stipulated in Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and significant hedge funds. Such insiders are required to report their transactions through a Form 4 filing, which must be completed within two business days of the transaction.
A new purchase by a company insider is a indication that they anticipate the stock will rise.
On the other hand, insider sells may not necessarily indicate a bearish view and can be motivated by various factors.
<h3>A Deep Dive into Insider Transaction Codes</h3>
<a href="https://www.benzinga.com/money/investing-tools">Investors</a> prefer focusing on transactions that take place in the open market, indicated in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S indicates a sale. Transaction code C indicates the conversion of an option, and transaction code A indicates grant, award or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0001046102">Check Out The Full List Of RB Global's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

RB Global Recent Insider Activity

CIBC initiates coverage on RB Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBA#NYSE">RBA</a>) with a Outperformer rating and announces Price Target of $95.

CIBC Initiates Coverage On RB Global with Outperformer Rating, Announces Price Target of $95

RB Global (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rba#NYSE">RBA</a>) shares ended the last trading session 8.9% higher at $79.12. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock&#39;s 5% loss over the past four weeks.
The fundamental driving factor can be attributed to the fact that RB Global joined the S&amp;P MidCap 400, which will be effective before trading opens on Jun 24. The company&#39;s competitive advantage lies in its global omnichannel platform, trusted customer relationships, and robust data analytics, enabling unparalleled flexibility, optimal price realization, and comprehensive value-added services for commercial assets and vehicles, which might have acted as tailwinds for it.
This heavy equipment auctioneer is expected to post quarterly earnings of $0.90 per share in its upcoming report, which represents a year-over-year change of +5.9%. Revenues are expected to be $1.14 billion, up 3.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For RB Global, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock&#39;s price usually doesn&#39;t keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RBA going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy).
RB Global belongs to the Zacks Financial Transaction Services industry. Another stock from the same industry, Envestnet (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/env#NYSE">ENV</a>), closed the last trading session 3.1% lower at $62.26. Over the past month, ENV has returned -4.6%.
For Envestnet, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.63. This represents a change of +37% from what the company reported a year ago. Envestnet currently has a Zacks Rank of #3 (Hold).
<a href="https://www.zacks.com/stock/news/2286802/strength-seen-in-rb-global-rba-can-its-8-9-jump-turn-into-more-strength?cid=CS-BENZ-FT-tale_of_the_tape|daily_price_change_5%-2286802">To read this article on Zacks.com click here.</a>

Wall Street is experiencing a quiet trading session on Monday, with major indices showing little movement by midday in New York, as traders maintain a cautious stance ahead of the highly anticipated inflation report and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39252500/fed-meeting-preview-economists-predict-steady-rates-in-june-fewer-cuts-ahead">Fed meeting this Wednesday.</a>
U.S. stocks have erased early session losses sparked by rising volatility in Europe after the latest Parliamentary elections revealed increased support for far-right parties and Emmanuel Macron&#8217;s surprising call for <a href="https://www.benzinga.com/markets/equities/24/06/39249718/macrons-snap-election-gamble-shocks-european-markets-euro-eyes-worst-2-day-performance-in-15-mon">snap elections in France.</a>
The S&amp;P 500 is 0.2% higher, while the tech-heavy Nasdaq 100 slightly outperforms the broader market, rising 0.3%.
Blue-chip stocks soften by 0.1%, while small caps trade mostly flat for the day.
Treasury yields inch higher by about 3 basis points across long-dated maturities, with the benchmark 10-year Note trading at a 4.47% yield. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) falls 0.7%, eyeing its third straight session of declines.
A trade-weighted measure of the U.S. dollar, as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), has risen by 0.2%, buoyed by the greenback&#8217;s gains against the euro, with the EUR-USD exchange rate down 0.4%.
Commodities trade stronger across the spectrum, with oil and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39254869/us-natural-gas-prices-rise-to-5-month-highs-on-hot-weather-forecasts-energy-stocks-">natural gas prices</a> rallying by 2.5% and 3.7%, respectively, driving the outperformance of energy-related stocks. Metals are also in the green, with copper, silver, and gold up 2.2%, 1.7%, and 0.7%, respectively. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is 0.4% higher, reaching $69,950.
<h3 class="wp-block-heading">Monday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,053.31</td>
<td>0.3%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,355.63</td>
<td>0.2%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,023.34</td>
<td>0.1%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>38,746.91</td>
<td>-0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">As of 12:42 p.m. ET</figcaption></figure>
According to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;is 0.2% higher to $534.86.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;is flat at $388.21.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA: <a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) rises 0.4% to $465.35.</li>
<li>Sector-wise, the&nbsp;Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>)&nbsp;outperforms, up by 1.1%, while the&nbsp;Financials Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) eases 0.5%.</li>
<li>Industry-wise, the SPDR S&amp;P Oil &amp; Gas Exploration and Production ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOP#NYSE">XOP</a>) is the session top performer, up 2.2%, while the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) lags behind, down 1.7%. </li>
</ul>
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers</h3>
<ul>
<li>Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) has risen by nearly 8%, after Elliot Investment unveiled a $1.9 billion stake in the airline company. </li>
<li>Huntington Bancshares Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HBAN#NYSE">HBAN</a>) is down over 5%, after the company slashed its annual net interest income forecasts. </li>
<li>Texas Pacific Land Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPL#NYSE">TPL</a>) and RB Global Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBA#NYSE">RBA</a>) are up over 23% and 9%, respectively, on the news that they will be included in the S&amp;P MidCap 400 Index. </li>
<li>CrowdStrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>), KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) and GoDaddy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDDY#NYSE">GDDY</a>) have risen 9.6%, 11.3% and 2.1%, respectively, as Dow Jones Indices announces the companies&#8217; inclusions in the S&amp;P 500 index.</li>
<li>Tellurian Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TELL#NYSE">TELL</a>) rockets 13.5%, extending a 5-day rally that began last week following rumors of Saudi giant Aramco being in discussions with the company for a liquefied natural gas (LNG) project.</li>
<li>GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) has extended Friday&#8217;s losses following the Roaring Kitty&#8217;s livestream, down by an additional 15% on Monday, further cooling the meme-stock sentiment. AMC Entertainment Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) is 6% lower. </li>
<li>Shares of&nbsp;ICC Holdings, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICCH#NASDAQ">ICCH</a>) have gained over 35% after Mutual Capital Group announced plans to acquire&nbsp;the company. </li>
</ul>
Read now: <a href="https://www.benzinga.com/news/24/06/39245542/dont-miss-apples-wwdc-2024-keynote-how-and-where-to-watch-on-june-10">Don&#8217;t Miss Apple&#8217;s WWDC 2024 Keynote: How And Where To Watch On June 10</a>
Image generated using artificial intelligence via Midjourney.

Market Stays Flat As Investors Anticipate Key Economic Events; Energy Stocks Lead Gains, Regional Banks Decline: What's Driving Markets Monday?

U.S. stocks were mixed, with the Dow Jones index falling around 0.2% on Monday.
Shares of ICC Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICCH#NASDAQ">ICCH</a>) rose sharply during Monday's session.
Mutual Capital Group announced plans to acquire ICC Holdings, Inc. for $23.50 per share in a $73.8 million transaction.
ICC Holdings shares jumped 43% to $22.03 on Monday.
Here are some other big stocks recording gains in today&#8217;s session.
<ul>
<li>QXO, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NASDAQ">QXO</a>) climbed 28.6% to $283.00.</li>
<li>Opera Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPRA#NASDAQ">OPRA</a>) shares gained 22% to $16.83.</li>
<li>Ivanhoe Electric Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IE#NYSE">IE</a>) rose 18% to $10.74.</li>
<li>iLearningEngines, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AILE#NASDAQ">AILE</a>) surged 17.5% to $5.58.</li>
<li>Cactus, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHD#NYSE">WHD</a>) surged 13.6% to $53.19.</li>
<li>SEACOR Marine Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMHI#NYSE">SMHI</a>) shares rose 12.1% to $13.26.</li>
<li>KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) climbed 9.8% to $107.63 after it was announced the company will join the S&amp;P 500.</li>
<li>Diamond Offshore Drilling, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DO#NYSE">DO</a>) shares gained 9.8% to $15.30 after Noble announced an agreement to acquire the company.</li>
<li>CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) rose 8.8% to $379.95 after it was announced the company will join the S&amp;P 500.</li>
<li>StepStone Group LP (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STEP#NASDAQ">STEP</a>) gained 8.6% to $45.00. StepStone Group will replace TTEC Holdings Inc. in the S&amp;P SmallCap 600.</li>
<li>Krystal Biotech, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KRYS#NASDAQ">KRYS</a>) climbed 8.6% to $178.59. Krystal Biotech will replace OraSure Technologies Inc. in the S&amp;P SmallCap 600.</li>
<li>LENZ Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LENZ#NASDAQ">LENZ</a>) gained 8.2% to $16.85.</li>
<li>Nisun International Enterprise Development Group Co., Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NISN#NASDAQ">NISN</a>) shares climbed 7.6% to $3.6302 after the company said it has established a daily supply capacity of over 20 million eggs.</li>
<li>Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) climbed 6.8% to $29.66 following a report indicating Elliott Investment Management has built a stake in the company.</li>
<li>RB Global, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBA#NYSE">RBA</a>) gained 6.6% to $77.50 after it was announced the company will join the S&amp;P MidCap 400.</li>
<li>Geron Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GERN#NASDAQ">GERN</a>) gained 5.9% to $4.8592. Barclays initiated coverage on Geron with an Overweight rating and announced a price target of $9.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/24/06/39249387/top-5-financial-stocks-that-may-collapse-this-quarter">Top 5 Financial Stocks That May Collapse This Quarter</a>

RB Global shares are trading higher after it was announced the company will join the S&P MidCap 400.

Dividend Champion, Contender, And Challenger Highlights: Week Of August 11

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Ritchie Bros (TSE:RBA) has released an update. RB Global, Inc. has appointed Steve Lewis as their new Chief Operating Officer, bringing his vast ex...

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