Above Food Ingredients Stock (NASDAQ: ABVEW)

Latest news for Above Food Ingredients (NASDAQ:ABVEW) Stock

Above Food Ingredients Inc specializes in regenerative food ingredients with over 120 product formulations. The company has two main segments: Disruptive Agriculture and Rudimentary Ingredients, and Consumer Packaged Goods ("CPG"). The Disruptive Agriculture and Rudimentary Ingredients segment focuses on regeneratively grown grain and bespoke ingredient products. The CPG segment formulates, manufactures, sells, and distributes consumer product formulations under-owned and private-labeled brands.

Above Food Ingredients Inc

Piper Sandler analyst Matthew Clark maintains Western Alliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>) with a Overweight and raises the price target from $76 to $93.

News

Price Target

Analyst Ratings

Piper Sandler Maintains Overweight on Western Alliance, Raises Price Target to $93

The 2024 presidential race has taken a dramatic turn with President Joe Biden&#8216;s decision to step down, leading to potential changes in market strategies known as the &#8216;Trump trade&#8217;.
What Happened: Biden&#8217;s withdrawal and endorsement of Vice President Kamala Harris have stirred speculation about the future of the &#8220;Trump trade,&#8221; CNBC <a href="https://www.cnbc.com/2024/07/22/markets-could-unwind-the-trump-trade-after-biden-drops-out-of-presidential-race.html">reported</a> on Monday. This term refers to market strategies banking on stocks that would likely benefit from a potential return of former President Donald Trump to the White House.
Previously, markets had factored in another term for the Republican challenger, following Biden&#8217;s concerning debate performance and an assassination attempt on Trump. However, Biden&#8217;s withdrawal has introduced a new level of uncertainty into the election, causing traders to reassess their positions.
Michael Brown, a senior research strategist at Australia-based broker Pepperstone, predicts that the U.S. dollar would soften as the &#8220;Trump trade&#8221; unwinds. He added that Biden&#8217;s exit has increased the prospect of a Democratic victory marginally.
Brown anticipates that stocks may decline in the short term, but views any drops as medium-term buying opportunities. This outlook is supported by the expectation that the Federal Reserve will cut rates, alongside resilient economic and earnings growth.
Charles Myers, founder and CEO of advisory firm Signum Global Policy, also added that the "Trump trade" is at risk in the short term, adding that Harris will give a befitting competition to Trump.
"I think that it's a bit too early for the markets to declare victory for Trump, and I think she's going to give him a real run for his money," Myers said.
See Also: <a href="https://www.benzinga.com/markets/equities/24/07/39853528/microsoft-cloud-outage-grounds-flights-disrupts-operations-of-frontier-allegiant-and-sun-country?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Microsoft Outage Wreaks Havoc On World As 911, International Airlines, Banks And Airport Services Disrupt</a>
Why It Matters: The decision, though not entirely unforeseen, has <a href="https://www.benzinga.com/news/24/07/39878442/biden-quitting-2024-race-could-move-the-stock-market-key-factors-to-watch-on-monday">ignited the stock market</a>. Recent polls had shown a widening lead for Trump over Biden, following a lackluster debate performance, a failed assassination attempt on Trump, and the Republican convention.
Renowned economist Mohamed El-Erian expressed that <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39877645/mohamed-el-erian-on-bidens-withdrawal-from-presidential-race-there-is-genuine-uncer">opinions are likely to vary</a> on how the news will influence U.S. stock futures. Some may perceive this as an indication of greater policy uncertainty post the November elections, while others might believe that the markets have already factored in the news.
Meanwhile, a snap poll conducted shortly after Biden&#8217;s announcement showed a majority of Americans approved of the decision. The survey showed t<a href="https://www.benzinga.com/news/24/07/39878848/trump-vs-harris-first-poll-after-bidens-exit-shows-majority-approve-of-decision-but-heres-how-it-mig">hat 71% percent</a> of the Americans surveyed said they either strongly approved or somewhat approved of Biden's withdrawal.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39875607/bitcoin-ethereum-hold-steady-dogecoin-spikes-as-biden-bows-out-of-presidential-race-king-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum Hold Steady, Dogecoin Spikes As Biden Bows Out Of Presidential Race: King Crypto Might Have A Chance To Reclaim $71.5K, Forecasts Analyst</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/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Politics

Markets

General

Investors Anticipate Unraveling Of 'Trump Trade' As Biden Exits Presidential Race, But Analyst Says 'It's A Bit Too Early For The Markets To Declare Victory For Trump'

Piper Sandler analyst Scott Siefers maintains Comerica (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) with a Neutral and raises the price target from $51 to $52.

Piper Sandler Maintains Neutral on Comerica, Raises Price Target to $52

Contracts

Planet Signs Seven-Figure Contract Expansion With US-allied Government Agency For SkySat High Resolution Data

Barclays analyst Michael Leithead maintains PPG Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPG#NYSE">PPG</a>) with a Equal-Weight and lowers the price target from $148 to $144.

Barclays Maintains Equal-Weight on PPG Indus, Lowers Price Target to $144

North Korea has accused the United States and South Korea of continuously conducting joint military drills against it, thereby crossing a &#8220;red line&#8221; toward a new nuclear war.
What Happened: On Monday, North Korea claimed that the U.S. and South Korea have not ceased their joint military exercises against the North since the signing of the armistice that concluded the 1950-53 Korean War, Yonhap News Agency <a href="https://en.yna.co.kr/view/AEN20240722001400315">reported</a>. The North&#8217;s main newspaper, The Rodong Sinmun, made the allegations ahead of the 71st anniversary of the armistice signing on July 27, a day celebrated as Victory Day in North Korea.
The newspaper further asserted that the U.S. and South Korea are &#8220;crossing a red line of a new world nuclear warfare without hesitation.&#8221; In response, South Korea&#8217;s unification ministry dismissed the claims, stating that North Korea was playing the victim despite being the initial invader with support from the Soviet Union and China.
North Korea has consistently criticized joint military exercises between Seoul and Washington, viewing them as rehearsals for an invasion. Meanwhile, the allies maintain that such drills are defensive in nature.
See Also: <a href="https://www.benzinga.com/news/24/07/39873597/anthony-scaramucci-says-if-democrats-win-they-can-extinguish-large-elements-of-trumpism-but-youre-no?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Says If Democrats Win, They Can &#8216;Extinguish Large Elements Of Trumpism&#8217; But &#8216;You&#8217;re Not Going To Be Able To Do It If You Don&#8217;t&#8230;&#8217;</a>
The Rodong Sinmun also claimed that North Korean leader Kim Jong Un has fortified the country&#8217;s nuclear deterrence to permanently end this prolonged war.
Why It Matters: The accusations come in the wake of a series of events that have heightened tensions between the two Koreas. Earlier this month, the U.S. and South Korea signed their <a href="https://www.benzinga.com/news/24/07/39748786/kim-jong-uns-rising-threats-prompt-us-south-korea-joint-nuclear-deterrence-guidelines">first joint nuclear deterrence</a> guidelines in response to escalating nuclear threats from North Korea.
Furthermore, South Korea celebrated its first-ever <a href="https://www.benzinga.com/news/24/07/39795037/a-day-after-receiving-stern-warning-for-kim-jong-uns-regime-south-korea-celebrates-first-ever-north">North Korean Defectors' Day, </a>honoring approximately 34,000 North Koreans who escaped the oppressive rule of Pyongyang.
Adding to the tension, South Korea resumed its <a href="https://www.benzinga.com/24/07/39859677/south-korea-resumes-propaganda-broadcasts-in-response-to-kim-jong-uns-north-korea-sending-trash-carr">anti-Pyongyang propaganda broadcasts </a>in response to North Korea's launch of trash-carrying balloons across the border.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/07/39854646/anthony-scaramucci-says-jd-vances-quest-to-wall-us-off-from-rest-of-world-could-be-an-economic-disas?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Says JD Vance&#8217;s Quest To Wall US Off From Rest Of World Could Be An Economic Disaster: &#8216;He&#8217;s Going To Be Annihilated By Donald Trump Because He Is&#8230;&#8217;</a></li>
</ul>
Image via Shutterstock
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>

Global

Kim Jong Un's North Korea Slams US And South Korea For 'Crossing A Red Line' On Nuclear War 'Without Hesitation'

Piper Sandler analyst Paul Newsome maintains Travelers Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) with a Neutral and lowers the price target from $213 to $207.

Piper Sandler Maintains Neutral on Travelers Companies, Lowers Price Target to $207

Piper Sandler analyst Frank Schiraldi maintains M&amp;T Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>) with a Overweight and raises the price target from $164 to $190.

Piper Sandler Maintains Overweight on M&T Bank, Raises Price Target to $190

Actelis Networks, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASNS#NASDAQ">ASNS</a>) ("Actelis" or the "Company"), a market leader in cyber-hardened, rapid deployment networking solutions for IoT applications, today announced that it has received new orders of over $150,000 for a tier-1 military contractor for its latest cyber-hardened networking solution, the <a href="https://www.globenewswire.com/Tracker?data=k1ucxZX6OLnDL7x8w6cLQ39-9VnyrlKviqkpSF7lhRz-TfrRa9jErm1j_NAyJnlBz5uUG64AcLnNry7k8Qv91DhPau6yXoHH_HsqybH2NPQOOzP9gwVvp2h6ReHuzwYd-D8imWrrmZKdJ7KuiOvuZA==">GigaLine 800</a>, which will be deployed on U.S. military bases. This order marks the first major deployment of the GL800, underscoring Actelis' momentum in the military sector following its certification by the National Institute of Standards and Technology (<a href="https://www.globenewswire.com/Tracker?data=DK85ePHu-q_6oE5lTqLi3yXoO5zxFnZmXsq9bNZlgYaA3j5xHmcuA1kE65TPZnbcQAioPsR_rVotJaPwImARyw==">NIST</a>) for FIPS standard, the Joint Interoperability Test Command (<a href="https://www.globenewswire.com/Tracker?data=j_tokeQlmHdcxyUBRtzTElLNAQluX6a-IlThmLEZys3YqKKgcXjwKrxKk8GJ2UPF40vVBQ1Ctg-pGJfZ5PYiJg==">JITC</a>), and placement on the U.S. Department of Defense's <a href="https://www.globenewswire.com/Tracker?data=tY3Q8UAuvSGvT_lkhPZ2cf429lmj0xTeQMMupzWdn0XpVdKoemlwttEGKGee_R6evoeCt1CZGlSTJvA0MHHmrW_CxPquTCUpd0-oaKzY1qQ=">Approved Products List</a>.

ASNS

Actelis Receives Over $150,000 For A Tier-1 Military Contractor In New Military Orders For New Cyber-Hardened Networking Solutions

Earnings

PEBK

Peoples Bancorp Q2 EPS $0.89 Up From $0.85 YoY

Guidance

KINS

Kingstone Companies Highlights Significant Market Opportunity, Strong Growth Prospects, And Increased Guidance; Expects Q2 2024 Direct Written Premium Growth Of +21.5%, Core Personal Lines Growth Of +24.3%, Third Consecutive Quarter Of Profitability, And Management Confidence In Operations And Strategy

LG Energy Solution Ltd., a South Korean battery manufacturer, is slowing down the construction of its third plant with General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) in Michigan due to weak demand for electric vehicles and concerns over potential <a href="https://www.benzinga.com/markets/equities/24/07/39871513/trump-pours-cold-water-on-industry-tesla-falls-ahead-of-earnings-week-fords-step-back-in-ev-plan">political shifts in the U.S.</a>
LG Energy said it is "adjusting the speed of overall investment" and exploring "flexible operation" options for its facilities, according to a message sent to <a href="https://www.bloomberg.com/news/articles/2024-07-22/lg-slows-ev-cell-plant-with-gm-in-us-as-political-worries-swirl?srnd=phx-industries&amp;sref=TBDibEcD">Bloomberg News</a>. 
LG Energy and GM commenced the project in 2022 with an investment of approximately $2.6 billion, targeting the first half of next year for operational commencement. 
Also Read: <a href="https://www.benzinga.com/news/24/07/39856649/gms-cruise-attempts-to-build-better-relations-with-emergency-responders-after-its-avs-involvement-in">GM&#8217;s Cruise Attempts To Build Better Relations With Emergency Responders After Its AV&#8217;s Involvement In An Accident Last Year</a>
Additionally, Korean firms are apprehensive about the U.S. presidential election, having invested significantly in North America following President Joe Biden's clean energy initiative, which promotes domestic EV production and reduces dependence on Chinese suppliers.
Former President Donald Trump has pledged to dismantle the Inflation Reduction Act and reverse Biden&#8217;s pro-EV measures if he returns to office. At last week&#8217;s Republican National Convention, Trump promised to "end the electric vehicle mandate on day one." 
The Biden administration set a goal for 50% of all new vehicles sold to be electric by 2030. 
Earlier this month, LG CEO Kim Dong Myung emphasized the need to adjust investment speeds and urged employees to seek ways to enhance investment flexibility and efficiency.
Meanwhile, GM is also revising its expectations for its EV program. CEO Mary Barra recently stated that the company would <a href="https://www.benzinga.com/markets/equities/24/07/39786382/gm-delays-1m-ev-production-target-beyond-2025-market-isnt-developing-were-going-to-be-guided-by-">not meet its goal of producing one million EVs</a> by the end of next year.
Samsung SDI Co., another major Korean battery maker and supplier for BMW AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>) and Stellantis NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>), has highlighted the slowdown as "a new crisis."
The company has two planned plants with Stellantis in Indiana and another with GM in the same state. Similarly, SK On Co., a supplier for Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) and Hyundai Motor Co (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HYMTF#OTC">HYMTF</a>), has declared an emergency after reporting significant losses in Q1.
Parent company SK Innovation Co. is evaluating options to enhance SK On's competitiveness, including potential restructuring.
SK On has two operational plants in Georgia, with another planned in collaboration with Hyundai. The company also intended to establish three additional plants with Ford—two in Kentucky and one in Tennessee—financed through Biden's administration funds. 
However, the start of a second Kentucky facility has been postponed due to slowing EV sales.
A June report from the Korea Institute for Industrial Economics &amp; Trade indicated that Korean battery manufacturers might consider scaling back their U.S. investment plans if the IRA is altered following the US presidential election.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/07/39858300/tesla-sees-24-drop-in-california-registrations-as-ev-competition-heats-up">Tesla Sees 24% Drop In California Registrations As EV Competition Heats Up</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

BMWYY

HYMTF

STLA

LG Energy, GM Adjust US Plant Plans Due To Waning EV Market

Piper Sandler analyst Brian Mullan maintains Darden Restaurants (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) with a Neutral and lowers the price target from $163 to $159.

Piper Sandler Maintains Neutral on Darden Restaurants, Lowers Price Target to $159

Barclays analyst Nicholas Campanella maintains Portland Gen Electric (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/POR#NYSE">POR</a>) with a Overweight and raises the price target from $44 to $48.

Barclays Maintains Overweight on Portland Gen Electric, Raises Price Target to $48

Bernstein analyst David Vernon downgrades American Airlines Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) from Outperform to Market Perform and lowers the price target from $18 to $12.

Downgrades

Bernstein Downgrades American Airlines Gr to Market Perform, Lowers Price Target to $12

Reiterates that Two Leading Proxy Advisory Firms Have Recommended Stockholders Support Meaningful Change to Enhabit's Board
Reminds Stockholders that Enhabit Has Historically Made Excuses for Poor Performance and Empty Promises
Underscores Opportunity Stockholders Have to Add Industry-Specific Expertise to Enhabit's Board at the Annual Meeting on July 25th
AREX Capital Management, LP (together with its affiliates, "AREX"), the beneficial owner of approximately 4.9% of the outstanding common shares of Enhabit, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EHAB#NYSE">EHAB</a>) ("Enhabit" or the "Company"), today issued an open letter to its fellow stockholders asking them to address the deficiencies of Enhabit's current board of directors by electing the full AREX slate, which AREX believes will support the creation of long-term value for all stockholders.

Management

EHAB

AREX Capital Urges Stockholders To Support Change At Enhabit At The Upcoming Annual Meeting

Mullen is currently negotiating with multiple government agencies to provide its&nbsp;Class One and Three vehicles and will be announcing additional orders over the current fiscal quarter
Mullen's commercial EVs align with the City of Dublin's vision to be the most sustainable, connected and resilient global city of choice and has a long history of working to improve energy efficiency
The Mullen THREE qualifies for a $15,000 incentive through the State of Massachusetts MOR-EV program and a $45,000 cash rebate voucher through the California Hybrid and Zero-Emission Truck and Bus Voucher Incentive Program (HVIP)

Asset Sales

MULN

Mullen Reports Class 3 EV Truck Purchase From Dublin, Ohio; Amount Not Disclosed

SYLA Technologies Co., Ltd. (NASDAQ:<a href="https://www.benzinga.com/stock/SYT#NASDAQ">SYT</a>) ("SYLA" or "the Company"),&nbsp;operator of the largest membership real estate crowd-funding platform in Japan, Rimawari-kun, announced that it has entered into a business alliance with Broad Enterprise Co., Ltd. (TSE: 4415) ("Broad Enterprise") for sales cooperation, including service collaboration and mutual referral of prospective clients.

SYLA Technologies And TSE Growth-Listed Broad Enterprise Form A Business Alliance To Boost Profits

<a href="https://www.theinformation.com/articles/reddit-teams-up-with-the-nfl-nba-to-boost-revenue" title="https://www.theinformation.com/articles/reddit-teams-up-with-the-nfl-nba-to-boost-revenue">https://www.theinformation.com/articles/reddit-teams-up-with-the-nfl-nba-to-boost-revenue</a>

RDDT

'Reddit Teams Up With the NFL, NBA to Boost Revenue' - The Information

Barclays analyst Nicholas Campanella maintains PNM Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNM#NYSE">PNM</a>) with a Overweight and raises the price target from $43 to $45.

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