PGIM Short Duration High Stock (NYSE: SDHY)

PGIM Short Duration High Stock (NYSE:SDHY), Trade Ideas

PGIM Short Duration High

PGIM Short Duration High Yield Opportunities is a closed-end management investment company. The fund's investment objective is to provide total return, through a combination of current income and capital appreciation. Its seeks to achieve its objective by investing in a diversified portfolio of high yield fixed income instruments.

PGIM Short Duration High Yield Opportunities Fund Common Shares

PGIM Short Duration High Yield Opportunities

Mizuho analyst Maheep Mandloi maintains Enphase Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) with a Buy and lowers the price target from $150 to $148.

News

Price Target

Analyst Ratings

ENPH

Mizuho Maintains Buy on Enphase Energy, Lowers Price Target to $148

Mizuho analyst Gabriel Moreen maintains ONE Gas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGS#NYSE">OGS</a>) with a Neutral and raises the price target from $63 to $64.

Mizuho Maintains Neutral on ONE Gas, Raises Price Target to $64

Shares of Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) fell sharply <a href="https://www.benzinga.com/quote/SMCI/earnings">during Friday's session</a>.
The company announced its third-quarter earnings date and did not provide preliminary estimates as it did with the second quarter.
Super Micro Computer shares dipped 13.2% to $806.00 on Friday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Next.e.GO N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EGOX#NASDAQ">EGOX</a>) shares jumped 129% to $0.0817.</li>
<li>Redwoods Acquisition Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RWOD#NASDAQ">RWOD</a>) shares rose 62.5% to $12.03 after falling around 3% on Thursday.</li>
<li>Zhongchao Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZCMD#NASDAQ">ZCMD</a>) gained 50% to $2.16 after gaining over 7% on Thursday.</li>
<li>Ault Alliance, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AULT#NYSE">AULT</a>) surged 46% to $0.3544 after the company announced that it received an investment of $44 million to date from Ault &amp; Company under the November 2023 Securities Purchase Agreement.</li>
<li>Nova LifeStyle, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVFY#NASDAQ">NVFY</a>) rose 31% to $2.77.</li>
<li>AGBA Group Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGBA#NASDAQ">AGBA</a>) gained 24.3% to $0.0817 on continued upward momentum after the company announced it entered into a definitive merger agreement with Triller.</li>
<li>Brenmiller Energy Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNRG#NASDAQ">BNRG</a>) surged 21.4% to $2.50.</li>
<li>WiSA Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WISA#NASDAQ">WISA</a>) rose 21.2% to $7.14.</li>
<li>Mobile-health Network Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDR#NASDAQ">MNDR</a>) climbed 20.2% to $24.53.</li>
<li>Marti Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRT#NYSE">MRT</a>) surged 19% to $1.8450.</li>
<li>Metropolitan Bank Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NYSE">MCB</a>) gained 19% to $39.40 after the company reported better-than-expected first-quarter financial results.</li>
<li>Top Wealth Group Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWG#NASDAQ">TWG</a>) gained 19% to $2.21. Top Wealth Group successfully closed IPO, raising $8 million.</li>
<li>Next Technology Holding Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXTT#NASDAQ">NXTT</a>) jumped 17.2% to $6.13.</li>
<li>Trio Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPET#NYSE">TPET</a>) gained 16.4% to $0.3817. The company on Wednesday announced it entered into a securities purchase agreement with an institutional investor in the amount of $360,000.</li>
<li>SuperCom Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPCB#NASDAQ">SPCB</a>) gained 16.3% to $0.2792. SuperCom shares fell around 33% on Thursday after the company priced a $2.9 million registered direct offering.</li>
<li>Chromocell Therapeutics Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRO#NASDAQ">CHRO</a>) rose 15.9% to $1.42.</li>
<li>Humacyte, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUMA#NASDAQ">HUMA</a>) rose 12.2% to $4.03.</li>
<li>Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) shares gained 9.7% to $12.03 following reports suggesting Sony is in talks with Apollo to join a bid for the company.</li>
<li>Tellurian Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TELL#NYSE">TELL</a>) rose 7.8% to $0.4172.</li>
<li>AMC Entertainment Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) gained 4.8% to $3.0589. Wedbush, on Thursday, slashed its price target on the stock to $4 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Sunshine Biopharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBFM#NASDAQ">SBFM</a>) shares fell 37.1% to $2.09. Sunshine Biopharma&#8217;s Nora Pharma received Health Canada approval for Niopeg.</li>
<li>iSpecimen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISPC#NASDAQ">ISPC</a>) fell 27.3% to $0.3050 after gaining around 98% on Thursday.</li>
<li>BioNexus Gene Lab Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BGLC#NASDAQ">BGLC</a>) fell 23.4% to $0.65 after jumping around 29% on Thursday. BioNexus Gene Lab agreed to invest RM 1.2 million in Ascension Innovation (AISB) to advance digital health innovation through AI adoption in healthcare.</li>
<li>Golden Sun Health Technology Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSUN#NASDAQ">GSUN</a>) dipped 21.4% to $3.85.</li>
<li>Connexa Sports Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YYAI#NASDAQ">YYAI</a>) fell 20% to $1.67.</li>
<li>Tian Ruixiang Holdings Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TIRX#NASDAQ">TIRX</a>) fell 20% to $0.6401 after surging 65% on Thursday.</li>
<li>Bit Origin Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTOG#NASDAQ">BTOG</a>) fell 19.1% to $2.41.</li>
<li>Virgin Galactic Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPCE#NASDAQ">SPCE</a>) dipped 17% to $0.8019.</li>
<li>SeaStar Medical Holding Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICU#NASDAQ">ICU</a>) fell 16.7% to $0.45. SeaStar Medical recently reported worse-than-expected quarterly financial results.</li>
<li>Tevogen Bio Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TVGN#NASDAQ">TVGN</a>) fell 15.5% to $1.79.</li>
<li>MicroCloud Hologram Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLO#NASDAQ">HOLO</a>) fell 14.2% to $2.53 after jumping around 32% on Thursday.    </li>
<li>Ocular Therapeutix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCUL#NASDAQ">OCUL</a>) fell 11% to $5.22. HC Wainwright &amp; Co. analyst Yi Chen reiterated Ocular Therapeutix with a Buy and maintained a $16 price target.</li>
<li>Skye Bioscience, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYE#NASDAQ">SKYE</a>) fell 9.8% to $15.16.</li>
<li>Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) fell 7% to $567.78. Netflix reported upbeat earnings and sales results for its first quarter. The company added 9.33 million paid net new subscribers in the first quarter to bring the company to a total of 269.60 million.</li>
<li>O-I Glass, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) fell 6.4% to $14.41. B of A Securities analyst George Staphos downgraded O-I Glass from Buy to Neutral and lowered the price target from $21 to $16.</li>
<li>Spotify Technology S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) fell 4.4% to $276.45.</li>
</ul>
Read More: <a href="https://www.benzinga.com/news/24/04/38334217/netflix-to-rally-around-31-here-are-10-top-analyst-forecasts-for-friday">Netflix To Rally Around 31%? Here Are 10 Top Analyst Forecasts For Friday</a>

Intraday Update

Markets

Movers

AGBA

AULT

BGLC

BNRG

BTOG

CHRO

EGOX

GSUN

MicroCloud Hologram Inc. - Ordinary Shares

HOLO

HUMA

ISPC

MNDR

NFLX

NVFY

Next Technology Holding Inc. - Ordinary Shares

NXTT

OCUL

PARA

RWOD

SBFM

SKYE

SMCI

SPCB

SPCE

SPOT

TELL

TIRX

TPET

TVGN

WISA

Connexa Sports Technologies Inc. - Common Stock

YYAI

ZCMD

Why Super Micro Computer Shares Are Trading Lower By Around 13%? Here Are Other Stocks Moving In Friday's Mid-Day Session

As the cryptocurrency world braces for the <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38321951/what-happens-after-the-bitcoin-halving">upcoming Bitcoin halving</a>, industry leaders told Benzinga they expect significant market shifts, voicing concerns over mining centralization. 
What Happened: Jesper Johansen, CEO of Northstake, highlights the potential for a significant price surge post-halving, stating, &#8220;Since the Spot Bitcoin ETFs launched, the demand for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) has already tripled the supply of newly minted coins, forecasting strong upward price pressures post-halving.&#8221; 
He emphasizes that historically, Bitcoin&#8217;s positive price trends have led to similar movements across major crypto assets.
Andreas Brekken, a former Kraken engineer and crypto pioneer, supports this view but with a unique twist on the investment perspective: &#8220;The halving is never priced in. For many, especially those new to Bitcoin ETFs, the realization of Bitcoin&#8217;s built-in scarcity could dramatically shift market dynamics, potentially pushing BTC towards the $200,000 mark in this cycle.&#8221;
Mining Dynamics And Centralization Issues:
The halving event will also profoundly affect the mining industry. 
Johansen predicts hash rate volatility as smaller operations struggle with increased costs, leading to a dominance of large mining pools. 
This centralization could pose risks to Bitcoin&#8217;s decentralized nature. 
&#8220;Centralized mining pools might manipulate transaction confirmations and influence protocol decisions, which is antithetical to Bitcoin's foundational principles,&#8221; Johansen cautioned.
To combat these risks, Johansen proposes that the community considers changes that would promote decentralization, although he recognizes the challenges in achieving consensus for such modifications.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38314438/jpmorgan-bitcoin-price-may-drop-after-halving-despite-miner-shakeup">Bitcoin Price May Drop After Halving Despite Miner Shakeup: JPMorgan</a>
Layer 2 Innovations And New Opportunities:
Tal Zackon, CEO of TRES, highlights the growth of Layer 2 solutions as essential for enhancing Bitcoin&#8217;s utility beyond mere capital appreciation. 
&#8220;The development of solutions like Core Chain and StakeLayer is critical as they offer new staking mechanisms, potentially diversifying Bitcoin&#8217;s use cases,&#8221; Zackon explains.
Industry Adaptation And Future Outlook:
As the halving approaches, the need for industry adaptation becomes more pronounced. 
Zackon urged businesses to prepare for shifts in the Bitcoin landscape, particularly in how they generate revenue from Bitcoin holdings. 
&#8220;With the halving potentially acting as a catalyst, we might see Bitcoin prices surge as <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38332952/bitcoin-rebounds-to-65k-shakes-off-4m-etf-outflow-and-geopolitical-uncertainty">ETF demand increases</a>, driven by newfound scarcity,&#8221; he adds.
Connecting To Benzinga&#8217;s Future of Digital Assets Event:
These insights set the stage for deeper discussions at the upcoming Benzinga <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19. 
The conference will delve into strategies to address the implications of mining centralization and explore innovative financial products emerging around <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38319562/how-the-bitcoin-halving-could-impact-your-investment">Bitcoin's new economic model.</a>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38312370/meme-coins-and-the-bitcoin-rollercoaster-a-match-made-in-mania">Meme Coins And The Bitcoin Rollercoaster: A Match Made In Mania?</a>
Image: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

EXCLUSIVE: Industry Leaders Predict How The Bitcoin Halving Impacts Prices And Mining

Morgan Stanley analyst Josh Baer maintains Chegg (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHGG#NYSE">CHGG</a>) with a Underweight and lowers the price target from $8.5 to $7.

CHGG

Morgan Stanley Maintains Underweight on Chegg, Lowers Price Target to $7

The Minnesota House has approved legislation to accelerate the availability of legal cannabis retail outlets. Authored by State Rep. Zack Stephenson (DFL), the bill seeks to <a href="https://www.benzinga.com/markets/cannabis/24/02/37019579/minnesota-prepares-for-launch-of-its-legal-cannabis-market-with-pre-licensing-property-reforms" target="_blank" rel="noreferrer noopener">expedite the establishment of a regulated cannabis marketplace</a> to supplant the existing illicit trade. Passed with a 69-62 vote, the measure now awaits Senate deliberation.
<h3 class="wp-block-heading">A Prelude To Pre-Approval And Regulatory Adaptations</h3>
The legislation, <a href="https://www.house.mn.gov/bills/Info/HF4757/93/2023/0" target="_blank" rel="noreferrer noopener">HF4757</a>, introduces a framework for pre-approving <a href="https://www.benzinga.com/topic/cannabis-sales" target="_blank" rel="noreferrer noopener">cannabis retail</a> licenses as early as this summer, setting the stage for applicants to secure funding and premises in anticipation of market launch. Stephenson&#8217;s initiative responds to the <a href="https://www.benzinga.com/markets/cannabis/23/01/30560286/recreational-cannabis-legalization-included-in-mn-governor-walzs-2023-budget-proposal" target="_blank" rel="noreferrer noopener">2023 legal milestone</a> permitting adult cannabis use and cultivation, yet retail sales remained on hold pending regulatory groundwork.
"There are a number of provisions in this bill designed to expedite the process of setting up a good, legitimate marketplace for cannabis to displace that illicit marketplace that's out there," said Stephenson <a href="https://www.house.mn.gov/sessiondaily/Story/18324" target="_blank" rel="noreferrer noopener">according</a> to Minnesota's Legislature Session Daily.
The proposal aims to streamline the path to retail operations and revise oversight responsibilities, transferring enforcement duties for <a href="https://www.benzinga.com/markets/cannabis/23/12/36142004/cbds-critical-moment-coalition-pushes-for-fda-oversight">hemp-derived</a> and medicinal products from the Department of Health to the Office of Cannabis Management (OCM).
Read also: <a href="https://www.benzinga.com/markets/cannabis/24/03/37546590/city-owned-cannabis-dispensaries-minnesota-says-yes-may-soon-open-first-government-run-weed-shop" target="_blank" rel="noreferrer noopener">City-Owned Cannabis Dispensaries? Minnesota Says Yes &amp; May Soon Open First Government-Run Weed Shop</a>
<h3 class="wp-block-heading">The Lottery System Debate</h3>
A notable contention surrounds the bill&#8217;s lottery system for license allocation, diverging from a purely merit-based approach to accommodate a broader applicant pool, including social equity candidates. Critics, primarily from the Republican side of the aisle, argue that the system might inadvertently favor large, out-of-state entities at the expense of local, minority-owned businesses, <a href="https://www.mprnews.org/story/2024/04/18/minnesota-house-approves-bill-that-attempts-to-speed-up-legal-cannabis-marketplace-roll-out" target="_blank" rel="noreferrer noopener">noted</a> MPR News.
Despite these concerns, the House incorporated amendments addressing minors&#8217; cannabis access, data privacy, and operational timelines for licensees.
<h3 class="wp-block-heading">Crackdown On Illicit Sales</h3>
Concurrently, Minnesota&#8217;s regulatory bodies are tightening enforcement against the <a href="https://www.benzinga.com/markets/cannabis/24/03/37656713/minnesota-regulators-crack-down-on-sale-of-cannabis-flower-being-sold-as-hemp-violators-face-1m-" target="_blank" rel="noreferrer noopener">illicit sale of cannabis flowers under the guise of hemp</a>, a move signaling the state&#8217;s commitment to a legally compliant cannabis industry. With hefty penalties for non-compliance, this crackdown also underscores the challenges of transitioning to a fully legal market.
<h3 class="wp-block-heading">A Market In Development</h3>
Furthermore, amid this regulatory push, the OCM&#8217;s projection <a href="https://www.benzinga.com/markets/cannabis/24/01/36694503/minnesota-cannabis-regulators-say-nearly-400-weed-shops-will-open-amid-crackdown-on-illicit-sale" target="_blank" rel="noreferrer noopener">suggests a need for at least 381 dispensaries</a> to adequately serve residents. With the Senate&#8217;s review pending and the OCM&#8217;s licensing system in development, stakeholders await the next steps toward legalization and market maturity.

Cannabis

Government

Regulations

Cannabis Retail In Minnesota: House Passes Bill To Accelerate Marketplace, Aiming For Early Rollout

Morgan Stanley analyst Josh Baer maintains Udemy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UDMY#NASDAQ">UDMY</a>) with a Equal-Weight and lowers the price target from $15 to $13.

UDMY

Morgan Stanley Maintains Equal-Weight on Udemy, Lowers Price Target to $13

Scotiabank analyst Jonathan Goldman reinstates Adentra (TSX:<a class="ticker" href="https://www.benzinga.com/stock/ADEN#TSX">ADEN</a>) with a Sector Outperform and announces C$51 price target.

Initiation

TSX:ADEN

Scotiabank Reinstates Sector Outperform on Adentra, Announces C$51 Price Target

Morgan Stanley analyst Josh Baer maintains Instructure Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INST#NYSE">INST</a>) with a Overweight and lowers the price target from $31 to $28.

INST

Morgan Stanley Maintains Overweight on Instructure Hldgs, Lowers Price Target to $28

Morgan Stanley analyst Josh Baer maintains Coursera (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COUR#NYSE">COUR</a>) with a Overweight and lowers the price target from $25 to $21.

COUR

Morgan Stanley Maintains Overweight on Coursera, Lowers Price Target to $21

RBC Capital analyst Arun Viswanathan maintains Olin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OLN#NYSE">OLN</a>) with a Outperform and raises the price target from $64 to $69.

RBC Capital Maintains Outperform on Olin, Raises Price Target to $69

Morgan Stanley analyst Josh Baer maintains Docebo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DCBO#NASDAQ">DCBO</a>) with a Overweight and lowers the price target from $67 to $65.

DCBO

Morgan Stanley Maintains Overweight on Docebo, Lowers Price Target to $65

General Motors (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gm#NYSE">GM</a>) and Ford Motor (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/f#NYSE">F</a>) will report their first quarter results next week. They both need to answer how they intend to grow their profits amid the EV slowdown to which even the EV king, Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>), isn&rsquo;t immune. Tesla warned of slower growth this year. With the EV sales slump, Tesla shares tumbled as much as 39% year to date. Along with growing competition in China, Tesla has also found itself in the mud, let alone legacy automakers struggling to make their biggest ever transformation for the all-electric era that is still coming, just not as fast.&nbsp;
<h3>GM</h3>
GM is yet to outline its strategy for restructuring its business in China.&nbsp;Last year, GM delivered&nbsp;2.1 million vehicles&nbsp;in the world&rsquo;s greatest EV market. Besides the restructuring, GM also needs to address its struggling Cruise Robotaxi division. But when it comes to seeing consistent profitability, GM&nbsp;is expected to report&nbsp;strong sales of its Chevrolet and GMC trucks, along with&nbsp;SUVs.
<h3>Ford&nbsp;</h3>
Ford,is getting its&nbsp;power from combustion trucks, along with its&nbsp;Ford Pro commercial vehicles.&nbsp;Ford did affirm its core profit guidance for the year to be in the range between&nbsp;$10 billion&nbsp;and&nbsp;$12 billion.&nbsp;
Last year, Ford&nbsp;lost nearly $4.7 billion&nbsp;EVs. This year, it forecasted the loss of $5 billion. In February, it clearly stated that it will launch the next generation&nbsp;of EVs only a time&nbsp;when they can be profitable.&nbsp;Earlier in April, Ford announced it intends to slow down its major EV programs. Ford has been forced to reconsider to&nbsp;launches of three-row EVs in Canada and its next-generation electric pickup truck built in Tennessee. In a separate announcement, Ford&nbsp;announced it will delay the&nbsp;deliveries of&nbsp;its&nbsp;all-new EV truck it will build at a new plant in western Tennessee until 2026. Last year, it planned to kick off production in late 2025, aiming for an annual output of&nbsp;500,000 electric trucks. But after reconsidering, it decided to build the output gradually.&nbsp;Meanwhile, Ford continues to boost its hybrid offerings.&nbsp;
Ford and GM are running back to gas-powered trucks.
One thing that is clear is that both Ford and GM are getting power from their combustion trucks at the moment, but the EV era is still coming.&nbsp;GM and Ford are due to provide more details on the tweaking of their strategies as they&nbsp;report their results on Tuesday and Wednesday, respectively.&nbsp;
DISCLAIMER:&nbsp;This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

General

TSLA

General Motors And Ford Are Facing The Same Challenge As They Run Back To Gas-Powered Trucks

RBC Capital analyst Arun Viswanathan maintains Westlake (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WLK#NYSE">WLK</a>) with a Sector Perform and raises the price target from $134 to $153.

RBC Capital Maintains Sector Perform on Westlake, Raises Price Target to $153

Keefe, Bruyette &amp; Woods analyst Brady Gailey downgrades Synovus Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNV#NYSE">SNV</a>) from Outperform to Market Perform and lowers the price target from $46 to $38.

Downgrades

Keefe, Bruyette & Woods Downgrades Synovus Finl to Market Perform, Lowers Price Target to $38

RMG Acquisition Corp. III (the "Company") issued a press release on April 8, 2024 (the "Prior Announcement") announcing that the Company would not consummate an initial business combination by the date required by its Fourth Amended and Restated Memorandum and Articles of Association (the "Termination Date"), and that (i) the Company intended to dissolve and liquidate, effective as of the close of business on April 22, 2024, (ii) that the Company would redeem all of the outstanding Class A ordinary shares that were included in the units sold in its initial public offering, at a per-share redemption price of approximately $10.00 (the "Redemption") and (iii) the Company's securities would be delisted from Nasdaq.
However, notwithstanding anything contained in the Prior Announcement, the board of directors of the Company has subsequently determined that it is in the best interests of the Company and its shareholders to (i) continue its pursuit of an initial business combination (and not liquidate the Company's trust account or consummate the Redemption at this time), and (ii) prepare and file a proxy statement seeking shareholder approval to extend the Termination Date. In addition, the Company is in the process of appealing the previously-reported delisting determination and the Company expects its securities will remain listed on The Nasdaq Capital Market during the appeals process.
No action is required by existing shareholders of the Company at this time.

RMGC

RMG Acquisition Corp. III Announces Cancellation Of Dissolution; Co Would Redeem All Of The Outstanding Class A Shares That Were Included In The Units Sold In Its IPO, At A Per-Share Redemption Price Of ~$10 And The Co's Securities Would Be Delisted From Nasdaq

WIIM

BANF

BancFirst shares are trading higher after the company reported better-than-expected Q1 financial results.

Evercore ISI Group analyst Mark Mahaney maintains Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) with a Outperform and raises the price target from $640 to $650.

Evercore ISI Group Maintains Outperform on Netflix, Raises Price Target to $650

<ul>
<li>The US Dollar Index experienced a drop of 0.33% on Wednesday, following Israeli strikes.</li>
<li>The dollar has shown a significant recovery this year with a 4.8% increase.</li>
<li>The USD/JPY pair surpassed its 2023 high, achieving a 2% increase in April.</li>
</ul>
On Wednesday, the US Dollar Index (DXY) relinquished its early gains, declining 0.33%, amid a flurry of volatility, triggered by news of Israeli strikes on Iranian facilities.
This serves as a vivid reminder of the dollar&#39;s vulnerability to geopolitical unrest and shifts in investor sentiment. As tensions in the Middle East appeared to dial down slightly, the dollar&#39;s ascent appears to be continuing for now.
The dollar&#39;s ascent this year, a solid 4.8% move, signals a comeback from its previous slump, shedding light on the currency&#39;s resilience.
The dollar saw a decline of 6.2% between October and December 2023 and now finds itself in a steady range, oscillating between $99 and $107 since December 2022.
The resistance at $107 is close above and could prove a challenge, preventing the dollar from breaking through. If this level is exceeded, targets like the $114 peak from September 2022 could be within reach.
<img alt="2024-04-19_18-03-50.jpg" src="https://www.benzinga.com/files/u517520/2024-04-19_18-03-50.jpg" style="height:345px; width:624px" />
The dynamic between the US Dollar and the Japanese Yen adds another layer to this narrative. April saw the USDJPY pair break above its 2023 high, climbing by 2% for the month to 151.94.
This move, 18 months in the making, could result in a long-term bullish trend unfolding.
After the closing bell on Thursday, April 18, the currency closed at $105.98, trading up by 0.19%.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

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