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Travis Perkins

Travis Perkins PLC makes and sells products to the construction and home improvement industries in the United Kingdom. The company organizes itself in two segments: merchanting, which serves large trade customers with specialized needs; Toolstation, which provides power tools, hand tools, and electronic equipment to small trade builders and individuals. The majority of its revenue comes from the merchanting segment, and the majority of company sales are made by delivery.

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B of A Securities analyst Nafeesa Gupta initiates coverage on Coursera (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COUR#NYSE">COUR</a>) with a Buy rating and announces Price Target of $11.

Price Target

Initiation

Analyst Ratings

COUR

B of A Securities Initiates Coverage On Coursera with Buy Rating, Announces Price Target of $11

The briefing will discuss how&nbsp;Russia,&nbsp;China&nbsp;and others have displaced&nbsp;the United States&nbsp;as the global leaders in uranium enrichment &ndash; and what it will take to re-establish America&#39;s domestic supply chain.&nbsp;

Centrus Energy Plans To Host A Special Briefing On Capitol Hill To Outline The Path Forward

This acquisition is expected to be the first transaction of its newly initiated growth strategy to buy and build companies in the sports and casino technology industry and other synergistic companies

Gaming

Signing Day Sports Signed A Binding Term Sheet To Acquire 95-99% Of Shares Of Dear Cashmere Group Holding Company, Doing Business As Swifty Global, A Sports And Casino Technologies Company, In An All-Stock Deal

Alibaba Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) was up by 4.15% during Thursday&#8217;s premarket after announcing the launch of more than 100 new open-source AI models and introduced a text-to-video generation tool.
What Happened: The new models, named Qwen 2.5, are designed for various applications, including automotive, gaming, and scientific research. They feature enhanced capabilities in mathematics and coding, Alibaba stated, CNBC <a href="https://www.cnbc.com/2024/09/19/alibaba-launches-over-100-new-ai-models-releases-text-to-video-generation.html">reported</a> on Thursday.
At the time of writing, Alibaba was trading at $87.92 while it closed at $84.42 on Wednesday, according to <a href="https://pro.benzinga.com">Benzinga Pro</a>.
These models are open-source, allowing global researchers, academics, and companies to utilize them without needing to train their own systems, saving time and costs. Alibaba aims to increase the adoption of its AI by making these models accessible.
The company also upgraded its proprietary flagship model, Qwen-Max, which is sold through its cloud computing services. Alibaba claims Qwen-Max 2.5-Max outperforms competitors like Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and OpenAI in reasoning and language comprehension.
See Also: <a href="https://www.benzinga.com/news/24/09/40892284/oracles-larry-ellison-predicts-police-officers-will-be-supervised-at-all-times-and-citizens-will-be?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Oracle&#8217;s Larry Ellison Predicts Police Officers Will Be Supervised &#8216;At All Times&#8217; And Citizens Will Be On Their Best Behavior Thanks To Constant AI-Powered Surveillance</a>
Additionally, Alibaba introduced a text-to-video tool that generates videos from user prompts, similar to OpenAI&#8217;s Sora. CEO Eddie Wu emphasized the company&#8217;s strong investment in AI research and global infrastructure development.
Why It Matters: Alibaba has been aggressively expanding its AI capabilities to rival major players like Microsoft and Amazon.com. According to Derek Yan, Senior Investment Strategist at KraneShares, the company is <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40840625/exclusive-ai-to-turbocharge-alibabas-cloud-in-bid-to-rival-microsoft-amazon-says-st">leveraging generative AI</a> to enhance customer service, sales, and marketing, potentially leading to significant operational savings.
Earlier this month, Alibaba launched a new AI-powered sourcing tool aimed at simplifying the sourcing process for American buyers, despite ongoing tensions between Beijing and Washington. This move is part of its <a href="https://www.benzinga.com/news/24/09/40744024/alibaba-boosts-us-expansion-with-new-ai-sourcing-tool-despite-festering-tensions-between-beijing-and">broader strategy to expand</a> its U.S. footprint.
Additionally, Alibaba recently introduced an<a href="https://www.benzinga.com/markets/equities/24/09/40847464/alibaba-dropped-the-ai-powered-english-version-of-taobao-in-this-country-app-quickly-soars-to-th"> AI-powered English version</a> of its Taobao app in Singapore. This update has significantly boosted the app&#8217;s popularity, making it the top shopping app in the country.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40897716/elon-musk-reacts-after-mark-cuban-says-he-would-buy-x-in-a-heartbeat?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts After Mark Cuban Says He Would Buy X &#8216;In A Heartbeat&#8217;</a></li>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Tech

Alibaba Shares Rise 4% In Premarket After Company Unveils Over 100 New AI Models And Text-To-Video Tool

HC Wainwright &amp; Co. analyst Emily Bodnar maintains BriaCell Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BCTX#NASDAQ">BCTX</a>) with a Buy and lowers the price target from $18 to $15.

BCTX

HC Wainwright & Co. Maintains Buy on BriaCell Therapeutics, Lowers Price Target to $15

He Succeeds Michael Fiddelke, Target&#39;s Chief Operating Officer. &nbsp;

Target Names Jim Lee As CFO And A Member Of Its Leadership Team Effective Sept. 22

HC Wainwright &amp; Co. analyst Emily Bodnar maintains Purple Biotech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PPBT#NASDAQ">PPBT</a>) with a Buy and lowers the price target from $10 to $8.

PPBT

HC Wainwright & Co. Maintains Buy on Purple Biotech, Lowers Price Target to $8

HC Wainwright &amp; Co. analyst Douglas Tsao reiterates Roivant Sciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROIV#NASDAQ">ROIV</a>) with a Buy and maintains $18 price target.

Reiteration

ROIV

HC Wainwright & Co. Reiterates Buy on Roivant Sciences, Maintains $18 Price Target

Plug Power Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) shares are trading higher premarket Thursday. The company secured a 25-megawatt (MW) order for its proton exchange membrane (PEM) electrolyzer systems from oil companies BP p.l.c. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) and Iberdrola S.A.&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/IBDSF#OTC">IBDSF</a>) <a target="_blank" href="https://www.ir.plugpower.com/press-releases/news-details/2024/Plug-Contracts-with-bp-and-Iberdrola-Joint-Venture-to-Supply-25-MW-of-PEM-Electrolyzers-for-bps-Castelln-Refinery-Project-in-Valencia-Spain/default.aspx" rel="noreferrer noopener">joint </a>venture, Castellón Green Hydrogen S.L.
The project will use five 5 MW containerized PEM electrolyzers to decarbonize BP&#8217;s Castellón refinery in Valencia, Spain and is expected to reduce CO2 emissions by 23,000 tons annually.
Plug&#8217;s electrolyzers will be deployed in a project led by BP and Iberdrola to produce green hydrogen, replacing a portion of the refinery&#8217;s current gray hydrogen, which is generated from natural gas.
This partnership with BP marks the start of a long-term collaboration to decarbonize operations, with potential expansion up to 2 gigawatts of electrolysis capacity.
Plug CEO Andy Marsh said, &#8220;The selection of Plug&#8217;s technology for this project serves as a clear example of our established industry expertise and proven technology.&#8221;
&#8220;Industry experts have highlighted the immense market potential for green hydrogen in Europe as being a key factor for reaching European Union decarbonization targets. This presents a significant opportunity for Plug, and we have the market knowledge and technology readily available to make a substantial impact.&#8221;
This month, Plug Power won a contract to support 25 MW of PEM electrolyzers for H2DRIVEN&#8217;s <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40834851/plug-power-secures-contract-with-h2driven-for-25-mw-electrolyzers-enhancing-green-methanol-proje" rel="noreferrer noopener">green methanol project in Portugal</a>.
The contract will provide Technical Evaluation Phase support for 25 megawatts of Proton Exchange Membrane Electrolyzers during the Front End Engineering Design process for a green methanol project in Portugal.
Apart from this, the company received a $10 million grant from the U.S. Department of Energy to scale its HYPER-Fuel project, which focuses on advanced hydrogen refueling infrastructure&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40735452/whats-going-on-with-plug-power-stock-today" rel="noreferrer noopener">for medium and heavy-duty vehicles</a>.
This funding is part of the DOE&#8217;s $62 million investment in 20 projects across 15 states to advance next-generation clean hydrogen technologies.
Investors can gain access to the stock via&nbsp;Global X Hydrogen ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYDR#NASDAQ">HYDR</a>) and&nbsp;ETF Series Solutions Defiance Next Gen H2 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HDRO#NYSE">HDRO</a>).
Price Action: PLUG shares are up 5.24% at $2.21 premarket at the last check Thursday.
Photo via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/24/08/40288778/plug-power-misses-q2-revenues-analysts-focus-on-electrolyzer-deployments-the-bar-was-set-low" target="_blank" rel="noreferrer noopener">Plug Power Misses Q2 Revenues, Analysts Focus On Electrolyzer Deployments: &#8216;The Bar Was Set Low&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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PLUG

Why Is Plug Power Stock Surging Premarket On Thursday?

HC Wainwright &amp; Co. analyst Matthew Caufield reiterates 4D Molecular Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FDMT#NASDAQ">FDMT</a>) with a Buy and maintains $36 price target.

FDMT

HC Wainwright & Co. Reiterates Buy on 4D Molecular Therapeutics, Maintains $36 Price Target

TotalEnergies SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTE#NYSE">TTE</a>) extended its sales and purchase agreement (SPA) with CNOOC by an additional five years.
Under the agreement, the company will continue delivering 1.25 million tons of liquified natural gas (<a target="_blank" href="https://totalenergies.com/news/press-releases/long-term-lng-sales-china-totalenergies-will-supply-125-million-tons-year-cnooc" rel="noreferrer noopener">LNG</a>) annually to China, now extending the contract until 2034.
Gregory Joffroy, Senior Vice President, LNG at TotalEnergies said, &#8220;We are pleased to strengthen our ties with CNOOC, a key partner for the Company in the world&#8217;s largest LNG importing country. This agreement allows us to continue securing long-term sales in Asia and reduce our exposure to spot market gas prices.&#8221;
On Wednesday, TotalEnergies inked a 10-year deal with BOTAŞ for 1.1 million tons of LNG annually, starting in 2027. The agreement secures long-term sales in Türkiye and reduces <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40919924/totalenergies-expands-in-turkey-with-long-term-lng-agreement" rel="noreferrer noopener">exposure to spot gas price fluctuations</a>.
Apart from this, the company formed a 50/50 joint venture with Adani Green for a 1,150 MW solar project in Gujarat, India. TotalEnergies will invest $444 million,&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40681721/totalenergies-invests-in-indian-solar-projects-forms-jv-with-adani-green-energy" rel="noreferrer noopener">boosting its renewable energy strategy</a>.
Investors can gain exposure to the stock via&nbsp;Advisor Managed Portfolios Miller Value Partners Appreciation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MVPA#NYSE">MVPA</a>) and&nbsp;Octane All-Cap Value Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCTA#NASDAQ">OCTA</a>).
Price Action: TTE shares are up 2.65% at $69.84 premarket at the last check Thursday.
Read Next:
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<li><a href="https://www.benzinga.com//node/40932786" target="_blank" rel="noreferrer noopener">Tesla Bull Explains Why Elon Musk&#8217;s xAI Is Critical To EV Maker&#8217;s Autonomous Ambitions</a></li>
</ul>

Large Cap

MVPA

OCTA

TotalEnergies Extends LNG Deal With CNOOC

HC Wainwright &amp; Co. analyst Amit Dayal reiterates Newpark Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NR#NYSE">NR</a>) with a Buy and maintains $12 price target.

HC Wainwright & Co. Reiterates Buy on Newpark Resources, Maintains $12 Price Target

Michaël van de Poppe, a well-known cryptocurrency analyst, says there is a beginning of a bull market after the Federal Reserve's <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40926729/bitcoin-spikes-above-61-000-as-fed-implements-50-bps-rate-cut">recent decision to cut interest rates</a>.
What Happened: According to his post, van de Poppe is bullish on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), and decentralized finance (DeFi). He stated, &#8220;The bull market has started. Long #Bitcoin. Long #Ethereum. Long DeFi.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">GM. The bull market has started. Long <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>. Long <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a>. Long DeFi.
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1836578218351935904?ref_src=twsrc%5Etfw">September 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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In another post, van de Poppe elaborated on the recent Federal Open Market Committee meeting, highlighting a significant 50 basis points rate cut. He mentioned that the dot plot suggests additional rate cuts of 50-75 basis points in the coming months, which he views as bullish for cryptocurrencies.
Van de Poppe also noted that the FOMC does not anticipate a significant rise in unemployment, which he believes is crucial for market stability. 
However, he expressed skepticism about the FOMC&#8217;s outlook, predicting a reduction in labor markets and a substantial economic impact that would necessitate quantitative easing to sustain economic momentum.
&#8220;I think they have a wrong view, I suspect that there will be a reduction in the labor markets and a huge impact on the economy, through which QE is required to keep the economy moving forward,&#8221; wrote van de Poppe. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The FOMC meeting was massive. 50bps rate cut. However, the dotplot assumes that another 50-75bps of rate cuts are likely to be happening in the coming months &#8211;&gt; bullish for <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> &amp; <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>. The most significant thing: FOMC doesn&#39;t expect a massive impact on unemployment. This…
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1836670076679807004?ref_src=twsrc%5Etfw">September 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40924380/mark-cuban-slams-trumps-crypto-plans-while-jon-stewart-calls-him-the-lefts-favorite-billio?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Slams Trump&#8217;s Crypto Plans While Jon Stewart Calls Him &#8216;The Left&#8217;s Favorite Billionaire&#8217;</a>
Why It Matters: The announcement from van de Poppe comes on the heels of significant developments in the cryptocurrency market. On Wednesday, Bitcoin surged past the $61,000 mark following the Federal Reserve&#8217;s <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40926729/bitcoin-spikes-above-61-000-as-fed-implements-50-bps-rate-cut">announcement of a 50 basis point rate cut</a>, bringing the federal funds rate down to a range of 4.75% to 5%. 
Additionally, the Federal Reserve&#8217;s decision to cut rates was widely anticipated, with an 85% likelihood leading up to the announcement. This anticipation led to a <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40931419/bitcoin-and-ethereum-euphoria-built-around-rate-cuts-could-be-ruined-by-retail-traders-say">bullish reaction in both cryptocurrency and traditional equity markets</a>. However, prices quickly reversed as traders executed buy orders.
Former President Donald Trump also made headlines by using Bitcoin to <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40932192/trump-pays-up-for-smash-burgers-and-diet-cokes-with-bitcoin-during-new-york-campaign-halt-">pay for smash burgers and Diet Cokes</a> during a campaign stop in New York City. This move was hailed as &#8220;one of the most historic transactions&#8221; and aimed to bolster his support from the crypto community.
Price Action: Bitcoin is currently trading at $62,017.60, up 0.59% in the last 24 hours. Year to date, it has gained 40.30%. Meanwhile, Ether is currently priced at $2,357, rising 2.63% in the last 24 hours. Year to date, it has increased 0.19%, according to&nbsp;<a href="https://www.benzinga.com/pro/login" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40913080/shiba-inu-team-says-launching-k9-finance-liquid-staking-on-shibarium-tomorrow-are-shib-bur?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Team Says Launching K9 Finance Liquid Staking On Shibarium Tomorrow: Are SHIB Burns Set To Accelerate From Here On Now?</a></li>
</ul>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Analyst Color

Federal Reserve

$BTC

$ETH

Analyst Predicts Energized Crypto Market After Fed's Decision: Says Bitcoin, Ethereum, And DeFi Set To Rally Amid Anticipation Of Further Rate Cuts: 'The Bull Market Has Started'

The conversions are intended to reduce greenhouse gas emissions by lowering methane slip in support of Chevron Shipping's broader efforts to reduce the carbon intensity of its operations. This marine industry first was made possible after two years of collaboration between the companies.

Commodities

Technology Group Wärtsilä, In Partnership With Chevron Shipping Company, Plans To Convert One Engine On Six Of Chevron Transport's LNG Carriers From Dual-fuel To Spark Gas Operation, The Order For The First Two Vessels Was Booked By Wärtsilä In Q3 2024

The company recently announced new revenue contracts for its solar panel recycling business, an international equity partnership with revenue and royalty generating agreements for its low carbon, lignocellulosic fuels business, certain asset sales and an indicative term sheet for&nbsp;$325 million&nbsp;in gross funding through SBC Commerce LLC, a U.S. based, globally positioned, private equity group.
The remainder of the Comstock&#39;s convertible debt has been either converted, redeemed or extinguished. 
&nbsp;
&nbsp;

LODE

Comstock Says SBCC transactions Are Progressing; Reveals Additional Convertible Debt Financing Of $3.5M, With Option For Additional $1.5M;

Coherent Corp. (NYSE:&nbsp;COHR), a global leader in high-performance optical networking solutions, today announced an uncooled dual-chip 980 nm micro-pump laser delivering a powerful 2x400 mW output. The new laser is delivered in a compact 3-pin module, making it the ideal choice for next-generation coherent transceivers in data center interconnects and in compact single-channel and bidirectional amplifiers for metro and long-haul networks.
Next-generation coherent transmission applications continue to demand amplifiers that can operate efficiently in space- and power-constrained environments and in a wider operating temperature range outside the central office. Single-mode uncooled dual-chip micro-pump lasers from Coherent offer an industry-first output power of 2x400 mW with power consumption of less than 2 W in environments where temperatures can range from -20 to 85 degrees Celsius.
Uncooled modules help address the growing need for energy-efficient communications networks at a lower cost of ownership by reducing overall power consumption and eliminating much of the thermal and power management systems associated with cooled lasers.

COHR

Coherent Launches Energy-Efficient 980 nm Micro-Pump Laser, Reduces Power Consumption for Network Amplifiers

Infosys ((NSE, BSE, NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INFY#NYSE">INFY</a>), a global leader in nextgeneration digital services and consulting, today announced it is extending its strategic collaboration with Posti, the leading delivery and logistics services provider in Finland, Sweden, and the Baltics. As part of the engagement, Infosys will help Posti enhance customer experience and operational efficiency while continuing to innovate, scale, and grow its IT operations

INFY

Infosys, Posti Extend Strategic Collaboration

Legal

Apple Told By EU Antitrust Regulators How To Comply With Obligations Set Out Under EU Tech Rules; Apple Must Ensure Rivals Can Function With Its IOS Mobile Operating System; Must Respond To Interoperability Requests From Developers And Third Parties

Billionaire investor Ray Dalio has highlighted the difficulties faced by the U.S. Federal Reserve as it navigates interest rate cuts amid a <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40927293/powell-defends-0-5-interest-rate-drop-as-right-thing-for-the-economy-doubles-down">heavily indebted economy</a>. 
What Happened: On Thursday, Dalio the founder of Bridgewater Associates said that the Fed must balance keeping interest rates high enough to benefit creditors while not excessively burdening debtors, Dalio <a href="https://www.cnbc.com/2024/09/19/ray-dalio-says-the-fed-faces-a-tough-balancing-act.html">said</a> in an interview with CNBC.
The central bank reduced the federal funds rate by 50 basis points on Wednesday to 4.75% to 5%, impacting banks&#8217; short-term borrowing costs.
Dalio expressed concerns about the &#8220;enormous amount of debt&#8221; in the U.S. The <a href="https://www.benzinga.com/news/24/09/40869188/robert-kiyosaki-rings-alarm-bells-over-soaring-us-debt-the-dollar-is-trash">government has spent over $1 trillion</a> on interest payments for its $35.3 trillion national debt this year. 
Despite these challenges, Dalio does not foresee a looming credit event but anticipates a significant depreciation in the value of debt through artificially low real rates. He warned that the path forward might involve monetizing the debt, similar to Japan&#8217;s approach, which could lead to depreciated currency values and lower bond yields.
"I see a big depreciation in the value of that debt through a combination of artificial low real rates, so you won't be compensated," Dalio said.
Dalio concluded by stating that he does not favor debt assets for his portfolio, preferring to underweight them, particularly bonds.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40891378/ahead-of-fomc-meeting-paul-krugman-says-fed-rates-will-be-elevated-even-with-50-bps?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ahead Of FOMC Meeting Paul Krugman Says Fed Rates Will Be Elevated Even With 50 Bps Cut: &#8216;Argument For Incrementalism Is Very Weak&#8217;</a>
Why It Matters: The Federal Reserve&#8217;s recent rate cut marks the first <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40927293/powell-defends-0-5-interest-rate-drop-as-right-thing-for-the-economy-doubles-down">reduction in more than four years</a>. Federal Reserve Chair Jerome Powell defended the decision, emphasizing the need to support a strong labor market and prevent economic harm. Powell stated, "The time to support the labor market is when it's strong, not when you begin to see layoffs."
Furthermore, the rate cut&#8217;s implications extend to <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/09/40928301/interest-rates-in-free-fall-what-it-means-for-mortgages-credit-cards-and-your-wallet-a">consumer financial products</a>. The reduction could affect mortgage rates, credit card interest rates, and auto loan rates, potentially easing the financial burden on consumers.
However, the economic <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40933361/jim-cramer-predicts-no-huge-run-for-tech-stocks-after-federal-reserve-cuts-rate-it-">landscape remains complex</a>. Jim Cramer noted that the rate cuts might not significantly benefit tech stocks, suggesting that the market had already anticipated this move.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40913930/kamala-harris-moves-from-13-point-deficit-to-7-point-lead-over-trump-in-survey-of-fund-managers-stra?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kamala Harris Moves From 13-Point Deficit To 7-Point Lead Over Trump In Survey Of Fund Managers, Strategists And Economists: Here&#8217;s Why Most Favor A Divided Government</a></li>
</ul>
Image via Wikimedia Commons/ Web Summit
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Economics

Billionaire Ray Dalio Warns Fed Faces Tough Road Ahead Balancing Interest Rate Cuts And 'Enormous' US Debt Amid $1 Trillion In Interest Payments This Year

Redburn Atlantic analyst Sebastian Erskine initiates coverage on Kodiak Gas Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGS#NYSE">KGS</a>) with a Buy rating and announces Price Target of $35.

Redburn Atlantic Initiates Coverage On Kodiak Gas Services with Buy Rating, Announces Price Target of $35

Travis Perkins goes ex-dividend tomorrow

Travis Perkins plc goes ex dividend Monday

Travis Perkins plc (TVPKF) Q2 2024 Earnings Call Transcript

TVPKF

The following post was written and/or published as a collaboration between Benzinga&rsquo;s in-house sponsored content team and a financial partner of Benzinga.

A group of international companies with American Depositary Receipts (ADR) programs is set to provide investor updates this week at the <a href="https://onlinexperiences.com/scripts/Server.nxp?LASCmd=AI%3A4%3BF%3AAPIUTILS!51004&amp;PageID=41FD63B1-2CF7-42A0-9EE2-9A3B72307647&amp;AffiliateData=vicreg&amp;utm_source=Article&amp;utm_medium=Benzinga&amp;utm_campaign=DBVIC%20Nov%2018%2019%202020">Deutsche Bank ADR Virtual Investor Conference</a>, held in conjunction with Virtual Investor Conferences.&nbsp;

The two-day conference will begin on Wednesday, November 18, and play host to 13 multi-national companies from Asia, Europe, Africa, and Australia, each of which is set to give a half-hour presentation.&nbsp;

American Depositary Receipts (ADRs) are U.S. dollar-denominated instruments issued by a depositary bank (such as Deutsche Bank (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/db#NYSE">DB</a>)) that represent ownership of the underlying ordinary shares of a foreign company.&nbsp;

ADRs exist to allow U.S. investors to buy and sell shares of non-U.S. listed companies without having to create an overseas brokerage account.&nbsp;

Many foreign companies sponsor ADR programs to increase their ownership among U.S. investors, raise brand awareness, and improve liquidity. Other ADRs are unsponsored, meaning they were created by a depositary bank as a response to investor demand without the participation of the foreign company.&nbsp;

Here is the list of presenting companies. Each presentation will be recorded and available on demand to attendees.&nbsp;

<h3>Wednesday Agenda</h3>

8:30 am First Pacific (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FPAFY#OTC">FPAFY</a>, Hong Kong: 142)) 
Country: China&nbsp;

9:00 am Hailiang Education Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HLG#NASDAQ">HLG</a>) 
Country: China

9:30 am Cootek (Cayman) Inc. NYSE: CTK 
Country: China

10:00 am Travis Perkins PLC (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TPRKY#OTC">TPRKY</a>, LON: TPK)) 
Country: UK

10:30 am Telstra Corporation Limited (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TLSYY#OTC">TLSYY</a>, ASX: TLS)) 
Country: Australia

11:00 am Nordea Bank AB (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NRDBY#OTC">NRDBY</a>, Helsinki: NDA-FI)) 
Country: Finland

11:30 am Brambles Limited (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BXBLY#OTC">BXBLY</a>, ASX: BXB)) 
Country: Australia&nbsp;

<h3>Thursday Agenda</h3>

8:30 am China Online Education Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COE#NYSE">COE</a>) 
Country: China

9:00 am BlueCity Holdings Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLCT#NASDAQ">BLCT</a>) 
Country: China

9:30 am Harmony Gold Mining Company Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMY#NYSE">HMY</a>) (JSE: HAR) 
Country: South Africa

10:00 am Koninklijke DSM N.V. (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/RDSMY#OTCQX">RDSMY</a>, AMS: DSM)) 
Country: Netherlands

10:30 am Hugo Boss AG (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/BOSSY#OTCQX">BOSSY</a>, Xetra: BOSS)) 
Country: Germany

11:00 am Merck KGaA (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MKKGY#OTC">MKKGY</a>, Germany: MRK)) 
Country: Germany

The preceding post was written and/or published as a collaboration between Benzinga&rsquo;s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.

Indexes are a go-to for all of us in our day-to-day market watching. Whether you&rsquo;re partial to the 30-member Dow Jones Industrial Average, the tech-centric Nasdaq 100, or the S&amp;P 500, they&rsquo;re all invaluable tools for comparing the performance of different markets.

There are over 10,000 securities that trade on OTC Markets. To better understand them, there are six indices that break down the market into discernable segments.

<h3><a href="https://www.otcmarkets.com/index/.OTCQX">OTCQX Composite</a></h3>

The OTCQX Composite Index serves as a benchmark for tracking the overall performance of the OTCQX Market, the top tier on OTC Markets. There are 326 members of the index, representing the most transparent domestic and international companies.

The index, which was created on Sept. 30, 2016, has a base level of 1,000, is market cap-weighted, and is rebalanced quarterly.

There were 41 new companies that joined the index in the fourth quarter, including notable cannabis companies Medmen Enterprises Inc. (OTCQX:<a class="ticker" href="/stock/MMNFF#OTCQX">MMNFF</a>), CannaRoyalty Corp. (OTCQX:<a class="ticker" href="/stock/ORHOF#OTCQX">ORHOF</a>) and Medicine Man Technologies Inc. (OTCQX:<a class="ticker" href="/stock/MDCL#OTCQX">MDCL</a>). Fifty-one were removed in the fourth quarter, most notably Aurora Cannabis (NYSE:<a class="ticker" href="/stock/ACB#NYSE">ACB</a>) which graduated to the New York Stock Exchange.

<h3><a href="https://www.otcmarkets.com/index/.OTCQXBIL">OTCQX Billion+ </a></h3>

The OTCQX Billion+ Index only tracks the performance of the $1 billion-plus market cap companies trading on OTCQX.

The index has 57 constituents, including Air Canada (OTCQX:<a class="ticker" href="/stock/ACDVF#OTCQX">ACDVF</a>), Bombardier Inc. (OTCQX:<a class="ticker" href="/stock/BDRBF#OTCQX">BDRBF</a>) and Heineken N.V. (OTCQX:<a class="ticker" href="/stock/HEINY#OTCQX">HEINY</a>). Five companies were added last quarter, including Impala Platinum Holdings Ltd. (OTCQX:<a class="ticker" href="/stock/IMPUY#OTCQX">IMPUY</a>), and 11 companies were removed.

Just like the OTCQX Composite, the OTCQX Billion+ Index has a base level of 1000, is market cap-weighted, and is rebalanced quarterly. It was launched on April 1, 2015.

<h3><a href="https://www.otcmarkets.com/index/.OTCQXDIV">OTCQX Dividend</a></h3>

For investors hunting for passive secondary income, this index tracks all the OTCQX members that pay a regular dividend. There are 97 members of the index, including names like adidas AG (OTCQX:<a class="ticker" href="/stock/ADDYY#OTCQX">ADDYY</a>) and BNP Paribas (OTCQX:<a class="ticker" href="/stock/BNPQY#OTCQX">BNPQY</a>).

It has a base level of 1000, is market cap-weighted, and is rebalanced quarterly. It was launched simultaneously with the OTCQX Billion+ Index on April 1, 2015.

Six new companies were added to the index in Q4, including VSB Bancorp, Inc. (OTCQX:<a class="ticker" href="/stock/VSBN#OTCQX">VSBN</a>) and Travis Perkins Plc (OTCQX:<a class="ticker" href="/stock/TPRKY#OTCQX">TPRKY</a>). Twenty-two names were removed from the index, including the Bitcoin Investment Trust (OTCQX:<a class="ticker" href="/stock/GBTC#OTCQX">GBTC</a>).

<h3><a href="https://www.otcmarkets.com/index/.OTCQXUS">OTCQX U.S.</a></h3>

Of the 10,554 securities that trade on OTC Markets, a little over half are based in the U.S. Of those 5,551 securities, 115 trade on the OTCQX Market. Each of those domestic companies is included in the OTCQX U.S. Index, which serves as a barometer for the performance for all domestic companies the top tier of OTC Markets.

Nineteen companies joined the index last quarter, including the Ethereum Classic Investment Trust (OTCQX:<a class="ticker" href="/stock/ETCG#OTCQX">ETCG</a>) and preferred shares of Overstock.com, Inc. (OTCQX:<a class="ticker" href="/stock/OSTBP#OTCQX">OSTBP</a>). Twenty-two companies were removed, including Creative Realities Inc (NASDAQ:<a class="ticker" href="/stock/CREX#NASDAQ">CREX</a>), which was listed on the Nasdaq on Nov. 15.

<h3><a href="https://www.otcmarkets.com/index/.OTCQXCAN">OTCQX Canada</a></h3>

The OTCQX Canada Index is the benchmark for tracking the overall performance of all the Canadian securities that are traded on OTCQX. These are securities that are also cross-traded on the Toronto Stock Exchange (TSX), TSX Venture Exchange (TSX-V), or the Canadian Securities Exchange (CSE).

There are 147 companies in the index, 18 of which were added during the most recent quarterly rebalance (16 were removed). With Canada being the largest market to federally legalize cannabis, a number of securities in the index provide exposure to the emerging industry, such as iAnthus Capital Holdings, Inc. (OTCQX:<a class="ticker" href="/stock/ITHUF#OTCQX">ITHUF</a>), Organigram Holdings, Inc. (OTCQX:<a class="ticker" href="/stock/OGRMF#OTCQX">OGRMF</a>), and Green Organic Dutchman Holdings Ltd. (OTCQX:<a class="ticker" href="/stock/TGODF#OTCQX">TGODF</a>).

The base date of the index is Sept 30, 2016, the base level is 1000.

<h3><a href="https://www.otcmarkets.com/index/.OTCQXBK">OTCQX Banks</a></h3>

The OTCQX Banks Index was created on Jan. 2, 2015 to measure the performance of financial institutions on the OTC Markets, and is one of the best-performing of the market&#39;s 10 indexes. Though it consists of companies from across the financial sector, the majority of the 65 companies in the index are community banks, such as recent IPOs&nbsp;Revere Bank (OTCQX:<a class="ticker" href="/stock/REVB#OTCQX">REVB</a>) and Delmarva Bankshares, Inc. (OTCQX:<a class="ticker" href="/stock/DLMV#OTCQX">DLMV</a>), two of the 12 companies added last quarter (12 were removed from the index during the rebalancing).&nbsp;

The OTCQX Banks index is also just one data point you can turn to for information regarding community banks. OTC Markets Group recently acquired the bank analytics company <a href="http://www.otcmarkets.com/stock/OTCM/news/OTC-Markets-Group-Announces-Acquisition-of-Qaravan-Inc-Enhancing-its-Suite-of-Market-Data-Services?id=217636">Qaravan</a>, which provides a comprehensive set of banking data on more than 5,000 US Banks, 500 of which trade on OTC Markets.

OTC Markets is a content partner of Benzinga

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