Fidelity Covington Trust Fidelity Enhanced Mid Cap ETF (ARCA: FMDE)

Latest news for Fidelity Covington Trust Fidelity Enhanced Mid Cap ETF (ARCA:FMDE)

Technology

Industrials

Consumer Cyclical

Financial Services

Other

Healthcare

Basic Materials

Real Estate

Energy

Utilities

Communication Services

Consumer Defensive

The fund normally investing at least 80 percent of assets in common stocks included in the Russell Midcap Index, which is a market capitalization-weighted index designed to measure the performance of the mid-cap segment of the U.S. equity market.

Amphenol Corp-class A

Trane Technologies Plc

Cintas Corp

Paccar Inc

Bank Of New York Mellon Corp.

Simon Property Group Inc

Ross Stores Inc

Spotify Technology Sa

D.r. Horton, Inc.

Ametek Inc

Fidelity Enhanced Mid Cap ETF

Fidelity Covington Trust Fidelity Enhanced Mid Cap ETF

Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) has revised its diversity, equity, and inclusion policies, as confirmed by CEO Jim Farley on Wednesday.
What Happened: CEO Farley informed employees via email about the changes. The company has refocused its employee resource groups and ceased participation in external culture surveys by the Human Rights Campaign, an LGBTQ+ advocacy group.
Right-wing activist Robby Starbuck shared the email on X, claiming he influenced the policy changes. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Here is <a href="https://twitter.com/Ford?ref_src=twsrc%5Etfw">@Ford</a>'s full statement I received this morning. Sanity is coming for corporate America. <a href="https://t.co/sqoJ8KPGHT">pic.twitter.com/sqoJ8KPGHT</a>
&mdash; Robby Starbuck (@robbystarbuck) <a href="https://twitter.com/robbystarbuck/status/1828820035118518737?ref_src=twsrc%5Etfw">August 28, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Ford <a href="https://edition.cnn.com/2024/08/29/business/ford-dei-policies-robby-starbuck/index.html?ref=biztoc.com">confirmed</a> the email&#8217;s authenticity to CNN.
Farley emphasized the evolving external and legal environment, stating, "We are mindful that our employees and customers hold a wide range of beliefs."
Despite the changes, Farley assured that Ford remains dedicated to fostering an inclusive workspace and leveraging diverse perspectives.
Ford joins other companies like Harley-Davidson and Tractor Supply Co. in revising their diversity, equity, and inclusion (DEI) programs and other social policies.
The Human Rights Campaign <a href="https://www.hrc.org/press-releases/hrc-president-claps-back-at-ford-motor-companys-announcement-it-will-abandon-inclusive-employee-policies-and-support-cowering-to-internet-troll-robby-starbuck-just-days-before-labor-day">criticized</a> Ford&#8217;s decision, accusing the company of abandoning inclusive policies and caving to political pressure.
"Ford Motor Company's shortsighted decisions will have long-term consequences," HRC President Kelley Robinson said on Wednesday in a press release.&nbsp;
See Also: <a href="https://www.benzinga.com/news/24/08/40619332/after-endorsing-trump-for-president-elon-musk-now-hires-republican-strategist-signaling-a-deeper-div?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">After Endorsing Trump For President, Elon Musk Now Hires Republican Strategist, Signaling A Deeper Dive Into Politics</a>
Why It Matters: The shift in Ford Motor Company&#8217;s diversity policies comes amid a broader debate on the role of DEI in corporate America. 
Earlier this year, business magnate Mark Cuban <a href="https://www.benzinga.com/news/24/01/36819134/mark-cuban-says-he-will-short-companies-who-think-diversity-is-negative-im-telling-you-what-i-think">emphasized the competitive edge</a> that diversity can provide to businesses. In a discussion on X, Cuban stated that he hires based on who can best position his business for success, rather than solely on race, gender, or religion.
In May, billionaire investor Bill Ackman faced criticism from Wall Street executives for <a href="https://www.benzinga.com/news/24/05/38754804/billionaire-investor-bill-ackman-grilled-by-wall-street-executives-for-anti-dei-views-report">his anti-DEI stance</a>. During a private session at the Milken Institute Global Conference, Ackman was reportedly confronted by senior executives who deemed his views detrimental to the advancement of women and people of color.
Additionally, tech mogul Elon Musk has accused Walt Disney Co. of &#8220;institutionalized racism and sexism&#8221; <a href="https://www.benzinga.com/general/entertainment/24/02/36972002/elon-musk-charges-disney-with-institutionalized-racism-and-sexism-over-leaked-inclusion-sta">over its diversity standards</a>. Musk&#8217;s allegations followed the leak of Disney&#8217;s &#8220;General Entertainment Content Inclusion Standards&#8221; document, which outlined diversity criteria for various roles in Disney productions.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/08/40592599/nvidia-stock-poised-for-major-298b-market-jolt-as-q2-earnings-loom-says-goldman-sachs-can-you-im?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia Stock Poised For Major $298B Market Jolt As Q2 Earnings Loom, Says Goldman Sachs: &#8216;Can You Imagine If NVDA Beats Expectations?&#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/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

News

General

Ford Revamps DEI Policies Amid Evolving Legal And Political Climate: CEO Jim Farley Says 'Mindful' Of Employees And Customers Holding A 'Wide Range Of Beliefs'

CLSA analyst Leo You downgrades Baozun (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BZUN#NASDAQ">BZUN</a>) from Outperform to Hold and lowers the price target from $2.8 to $2.2.

Downgrades

Price Target

Analyst Ratings

BZUN

CLSA Downgrades Baozun to Hold, Lowers Price Target to $2.2

ALNY

Alnylam Presents Detailed Results From Positive HELIOS-B Phase 3 Study Of Vutrisiran: Achieved 28% Reduction In Primary Composite Of All-cause Mortality And Recurrent Cardiovascular Events, And 31% And 36% Reductions In All-cause Mortality

Gordon Haskett analyst Chuck Grom downgrades Dollar Gen (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) from Buy to Hold and announces $90 price target.

Gordon Haskett Downgrades Dollar Gen to Hold, Announces $90 Price Target

As previously disclosed, on July 23, 2021, Paltalk Holdings, Inc., a wholly owned subsidiary of the Company, filed a patent infringement lawsuit&nbsp;against Cisco in the U.S. District Court for the Western District of Texas, pursuant to which the Company alleged that certain of Cisco&#39;s products infringed U.S. Patent No. 6,683,858, and that the Company was entitled to damages.

Legal

CSCO

PALT

Paltalk Holdings Says District Court Jury Has Awarded Company $65.7M In Verdict Against Cisco For Infringing US Patent

Jinkosolar Says It Repurchased A Total Of 5,596,739 ADS In An Aggregate Amount Of Approximately $134.5M In The Open Market Under Its Share Repurchase Program

In a bold move to challenge Elon Musk&#8216;s Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Chinese electric vehicle (EV) manufacturer, Zeekr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZK#NYSE">ZK</a>), is set to release its first SUV, priced to undercut Tesla&#8217;s Model Y in the Chinese market.
What Happened: Zeekr announced on Friday that it will launch its first SUV, the Zeekr 7X, in China next month. The new vehicle is priced at 239,900 yuan ($33,829), over $1,400 less than Tesla&#8217;s Model Y in China. The company plans to deliver the 7X globally by the end of the year.
The Zeekr 7X is equipped with two battery options that allow users to drive between 605 kilometers and 780 kilometers on a single charge. The company claims that its lithium-ion phosphate batteries offer the fastest charge in the world, beating Tesla&#8217;s, CNBC <a href="https://www.cnbc.com/2024/08/30/chinas-zeekr-to-launch-first-electric-suv-priced-to-undercut-teslas-model-y.html">reported</a> on Friday.
 China&#8217;s EV market is currently experiencing a fierce price war. Earlier, <a href="https://www.benzinga.com/markets/equities/24/08/40646699/teslas-china-woes-just-got-worse-xpengs-model-3-killer-receives-over-30k-orders-in-48-hours-of-l">Xpeng released its mass-market Mona M03</a> with models starting at less than $17,000. In May, Nio launched a lower-cost brand, Onvo, with cars priced $4,000 cheaper than Tesla&#8217;s Model Y.
See Also: <a href="https://www.benzinga.com/news/24/08/40550115/horror-show-for-teslas-q3-margins-says-analyst-as-elon-musk-led-company-extends-zero-percent-financi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Horror Show&#8217; For Tesla&#8217;s Q3 Margins, Says Analyst, As Elon Musk-Led Company Extends Zero-Percent Financing To End Of Q3</a>
As Chinese EV makers continue to release new models at lower prices, Tesla&#8217;s competitive edge in the market appears to be waning. A 2024 U.S. Initial Quality Study released in June showed that Tesla was losing its lead over legacy automakers due to quality concerns.
Despite these challenges, Tesla&#8217;s China Model Y prices have remained unchanged for nine consecutive weeks. In July, Zeekr sold 15,655 cars, a 30% year-on-year growth, while Tesla sold 46, 227 cars, a year-on-year rise of 47%.
Why It Matters: Zeekr, a subsidiary of Chinese automaker Geely Automobile, made a <a href="https://www.benzinga.com/markets/equities/24/05/38774344/chinese-tesla-rival-zeekr-soars-35-on-nyse-debut-valuation-hits-6-8b">strong debut on the NYSE</a> in May 2024, with its shares closing nearly 35% higher than its initial public offering price. The company&#8217;s aggressive pricing strategy for the Zeekr 7X appears to be a continuation of this momentum.
Furthermore, Zeekr <a href="https://www.benzinga.com/markets/equities/24/08/40506586/whats-going-on-with-chinese-ev-brand-zeekr-stock-today">plans to introduce a hybrid model</a> in the latter half of 2025, equipped with Nvidia's Drive Thor autonomous driving chip. This move could potentially increase its market share in the EV sector.
Meanwhile, Musk has <a href="https://www.benzinga.com/news/24/06/39354617/can-elon-musks-tesla-really-pull-off-a-20k-model-y-industry-experts-have-mixed-feelings">hinted at the possibility</a> of a Tesla Model Y priced under $20,000. However, the feasibility of this remains uncertain, with industry experts expressing mixed reactions.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="All-new Zeekr 7X - official video" width="500" height="281" src="https://www.youtube.com/embed/t5_bYE9uXzo?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40540099/elon-musk-promised-to-make-fully-reusable-rockets-13-years-ago-today-spacexs-starship-is-designed-to?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Promised To Make Fully Reusable Rockets 13 Years Ago. Today, SpaceX&#8217;s Starship Is Designed To Be 100% Reusable, Potentially Ready To Fly Again Within An Hour</a></li>
</ul>
Image via Zeekr
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

TSLA

Tesla's Chinese Rival Zeekr Takes On Elon Musk's EV Giant With A More Affordable Electric SUV In China Than Model Y

TD Cowen analyst Oliver Chen downgrades Kohl's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KSS#NYSE">KSS</a>) from Buy to Hold and lowers the price target from $25 to $21.

TD Cowen Downgrades Kohl's to Hold, Lowers Price Target to $21

Tesla and SpaceX CEO Elon Musk, who co-founded OpenAI in 2015 and subsequently left it in 2018, has once again raised concerns over the legality of the ChatGPT-parent&#8217;s shift to a for-profit model. This comes in the wake of reports suggesting <a href="https://www.benzinga.com/news/24/08/40636153/apple-in-talks-to-invest-in-openai-as-chatgpt-makers-valuation-climbs-to-100b-report">potential investments from tech giants</a> such as Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
What Happened: On Friday, Musk responded to a user&#8217;s query about the legality of OpenAI&#8217;s transition to a for-profit model. 
The user noted that Apple is reportedly in discussions to invest in OpenAI, joining Microsoft in valuing the company at over $100 billion. The user said that this raises questions about whether Musk, who initially funded OpenAI, should be entitled to a share of this value. 
He also questioned the legality of the company accepting donations, converting the resulting intellectual property into a for-profit venture, and then pocketing the money.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/08/40591783/apples-september-9-glowtime-event-featuring-iphone-16-launch-could-kickstart-a-historical-period-say?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple&#8217;s September 9 &#8216;Glowtime&#8217; Event Featuring iPhone 16 Launch Could Kickstart A &#8216;Historical Period,&#8217; Says Wedbush Analyst Dan Ives</a>
In response, the tech billionaire stated,&nbsp;&#8220;Either turning a non-profit into&nbsp;a for-profit is legal and&nbsp;everyone should be doing it&nbsp;or it's illegal and OpenAI&nbsp;is a house of cards.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Either turning a non-profit into a for-profit is legal and everyone should be doing it or it's illegal and OpenAI is a house of cards.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1829400635709575595?ref_src=twsrc%5Etfw">August 30, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: This isn&#8217;t the first time Musk has raised concerns about OpenAI&#8217;s operations. Earlier in August, Musk reignited a legal battle against OpenAI, <a href="https://www.benzinga.com/news/legal/24/08/40168619/elon-musks-new-lawsuit-against-openai-accusations-of-betrayal-and-deception">accusing the company</a> and its co-founders of prioritizing commercial gains over their original mission of benefiting humanity.
Previously, OpenAI CEO Sam Altman responded to the lawsuit, stating that while the <a href="https://www.benzinga.com/news/24/03/37815003/openai-ceo-sam-altman-breaks-silence-on-musks-lawsuit-what-elons-real-motivations-here-are-i-dont-kn">AI startup initially started</a> as a research lab with no plans for commercialization, the evolution of technology necessitated certain decisions that may seem questionable in hindsight.
On Thursday it was also reported that Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) intends to put more money into OpenAI. So far, Microsoft&#8217;s investment in OpenAI is <a href="https://www.benzinga.com/news/24/06/39550891/microsofts-13b-investment-in-openai-under-eu-scrutiny">reportedly valued at up to $13 billion</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40545254/mark-cuban-asks-elon-musk-to-share-source-code-of-algorithm-that-decides-reputation-relevancy-and-si?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Asks Elon Musk To Share Source Code Of Algorithm That Decides Reputation, Relevancy, And Similarity Criteria Of Posts On X</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

AAPL

MSFT

NVDA

Elon Musk Questions Legality Of OpenAI Going From Non-Profit To For-Profit Amid Apple, Nvidia Investment Buzz: 'OpenAI Is A House Of Cards'

HC Wainwright &amp; Co. analyst Patrick Trucchio reiterates Silence Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLN#NASDAQ">SLN</a>) with a Buy and maintains $75 price target.

Reiteration

HC Wainwright & Co. Reiterates Buy on Silence Therapeutics, Maintains $75 Price Target

HC Wainwright &amp; Co. analyst Patrick Trucchio reiterates Gossamer Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOSS#NASDAQ">GOSS</a>) with a Buy and maintains $10 price target.

GOSS

HC Wainwright & Co. Reiterates Buy on Gossamer Bio, Maintains $10 Price Target

Shares of MongoDB, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDB#NASDAQ">MDB</a>) rose sharply in today's pre-market trading after the company reported better-than-expected second-quarter financial results and<a href="https://www.benzinga.com/news/earnings/24/08/40639636/mongodb-stock-rallies-after-strong-q2-results-upbeat-guidance"> issued strong guidance</a>.
MongoDB reported quarterly earnings of 70 cents per share, which beat the analyst consensus estimate of 49 cents by 42.86%. Quarterly sales came in at $478.1 million, which beat the consensus estimate by 3.03% and represents growth of 12.82% from the same period last year.
MongoDB shares jumped 15.2% to $283.07 in the pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Brenmiller Energy Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNRG#NASDAQ">BNRG</a>) gained 96.2% to $1.32 in pre-market trading after the company reported a year-over-year increase in H1 EPS results. Also, the company announced a projected pipeline valued up to $500 million.</li>
<li>Focus Universal Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCUV#NASDAQ">FCUV</a>) rose 52.2% to $0.2894 in today's pre-market trading after the company in a Form4 filing disclosed that CEO Desheng Wang bought 302,100 shares of stock at an average price of $0.18 per share.</li>
<li>Emergent BioSolutions Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EBS#NYSE">EBS</a>) gained 29.4% to $11.54 in pre-market trading. Emergent BioSolutions&#8217; ACAM2000 vaccine gained the FDA nod for Mpox indication amidst rising public health crisis.</li>
<li>Maxeon Solar Technologies, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAXN#NASDAQ">MAXN</a>) gained 23% to $0.1283 in pre-market trading after dipping over 30% on Thursday.</li>
<li>Intuitive Machines, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUNR#NASDAQ">LUNR</a>) gained 16.8% to $5.63 in pre-market trading after the company was awarded a $116.9 million NASA contract to deliver six science and technology payloads to the Moon.</li>
<li>LogicMark, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGMK#NASDAQ">LGMK</a>) gained 13.8% to $0.1855 in pre-market trading after declining 9% on Thursday.</li>
<li>Marvell Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) gained 8.8% to $76.00 in the pre-market trading session after the company reported its second-quarter financial results.</li>
<li>ADS-TEC Energy PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSE#NASDAQ">ADSE</a>) gained 6.5% to $14.00 in pre-market trading.</li>
<li>Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) rose 6.5% to $117.90 in pre-market trading after the company reported stronger-than-expected results for its second quarter.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Catheter Precision, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTAK#NYSE">VTAK</a>) shares declined 35.3% to $0.88 in pre-market trading after dipping 23% on Thursday.</li>
<li>Elastic N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESTC#NYSE">ESTC</a>) shares fell 27.1% to $75.60 in pre-market trading after the company reported first-quarter financial results and issued second-quarter revenue guidance below estimates.</li>
<li>BioCardia, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BCDA#NASDAQ">BCDA</a>) fell 20.3% to $3.20 in pre-market trading. BioCardia shares jumped 83% on Wednesday after FDA cleared the company to market its Morph DNA Steerable Introducer product family.</li>
<li>XORTX Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XRTX#NASDAQ">XRTX</a>) fell 13.3% to $2.34 in pre-market trading after surging over 130% on Thursday.</li>
<li>Ekso Bionics Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EKSO#NASDAQ">EKSO</a>) shares fell 10.7% to $1.00 in pre-market trading. Ekso Bionics priced its $6 million underwritten public offering of 6m units with dual warrants.</li>
<li>Paltalk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PALT#NASDAQ">PALT</a>) fell 10.4% to $4.89 in today's pre-market trading after gaining 14% on Thursday.</li>
<li>Innovative Eyewear, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUCY#NASDAQ">LUCY</a>) shares declined 8.8% to $4.64 in pre-market trading. Innovative Eyewear shares jumped 54% on Thursday after the company announced that its Lucyd Lyte frames are now being sold on Target.com.</li>
<li>Duluth Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTH#NASDAQ">DLTH</a>) shares fell 8.6% to $3.51 in pre-market trading. Duluth Holdings shares jumped around 19% on Thursday after the company reported better-than-expected second-quarter sales results.</li>
<li>Autozi Internet Technology (Global) Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZI#NASDAQ">AZI</a>) shares dipped 6.9% to $2.70 in pre-market trading after gaining over 10% on Thursday. Autozi Internet Technology (Global) announced the closing of initial public offering.</li>
<li>Ulta Beauty, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>) declined 6.4% to $344.03 in pre-market trading after the company reported weaker-than-expected results for its second quarter and cut its FY24 guidance.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/24/08/40624754/top-2-materials-stocks-that-are-ticking-portfolio-bombs">Top 2 Materials Stocks That Are Ticking Portfolio Bombs</a></li>
</ul>

Pre-Market Outlook

Markets

Movers

Trading Ideas

ADSE

BCDA

BNRG

DELL

DLTH

EKSO

ESTC

FCUV

LGMK

LUCY

LUNR

Maxeon Solar Technologies, Ltd. - Ordinary Shares

MAXN

MRVL

ULTA

VTAK

XRTX

Why MongoDB Shares Are Trading Higher By Around 15%; Here Are 20 Stocks Moving Premarket

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is recalling 870 imported Model X electric vehicles in China due to potential safety issues, according to a statement posted on China&#8217;s State Administration for Market Regulation (SAMR) website on Friday.
What Happened: The recall affects Model X vehicles produced between Mar. 16, 2016, and Jul. 31, 2016. This action follows a previous recall issued in November 2020. The issue involves roof trim panels that may have insufficient primer, which could cause them to detach from the vehicle over time, posing a safety risk.
Tesla will begin the recall on Oct. 8. The company will inspect the affected vehicles and perform a tension test on the roof trim panels. If the panels fail the test, they will be replaced and reinstalled with an application of primer at no cost to the vehicle owners.
See Also: <a href="https://www.benzinga.com/news/24/08/40591746/jd-vance-lashes-out-at-kamala-harris-for-allowing-chinese-battery-plant-in-michigan-she-wants-to-pay?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">JD Vance Lashes Out At Kamala Harris For Allowing Chinese Battery Plant In Michigan</a>
Why It Matters: This latest recall is part of a series of recalls that Tesla has issued over the past year. Last week, the company recalled over 9,000 Model X vehicles in the U.S. due to <a href="https://www.benzinga.com/news/24/08/40481070/tesla-recalls-over-9k-units-of-older-model-x-suvs-over-concerns-of-cosmetic-trim-pieces-on-roof-fall">concerns that the roof trim pieces</a> might separate and pose a hazard to other drivers. This recall also involved Model X vehicles from the 2016 model year.
Earlier, in May, Tesla recalled <a href="https://www.benzinga.com/government/24/05/39106633/breaking-tesla-recalls-over-125-000-cars-to-fix-faulty-seat-belt-warnings">over 125,000 vehicles</a> in the U.S. to address issues with seat belt warnings. The recall was prompted by a malfunction in the seat belt warning light and chime, which could fail to activate, increasing the risk of injury in a crash.
Additionally, in June, the company recalled more than 11,000 Cybertrucks due to concerns that the sail applique might detach while driving, <a href="https://www.benzinga.com/news/24/06/39473764/tesla-recalls-more-than-11-000-cybertrucks-over-applique-detachment-risk-and-nearly-12-000-for-winds">posing a risk to other motorists</a>. Nearly 12,000 Cybertrucks were also recalled for windshield wiper flaws.
In another significant recall, this month Tesla recalled 1.7 million vehicles in China over concerns that the front trunk <a href="https://www.benzinga.com/news/24/08/40211414/tesla-recalls-1-7m-vehicles-in-china-over-concerns-of-front-trunk-opening-when-driving-after-recalli">might open while driving</a>, obstructing the driver&#8217;s view and increasing the risk of a crash. This recall involved multiple models, including the Model S, Model X, Model 3, and Model Y.
Price Action: Tesla&#8217;s stock closed at $206.28 on Thursday, up 0.26% for the day. In pre-market trading, the stock increased by 1.48%. Despite this recent gain, Tesla&#8217;s stock has declined by 16.96% year to date, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40548925/spacex-ceo-elon-musk-takes-a-dig-at-boeing-says-aircraft-companies-cannot-dominate-space-travel-indu?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">SpaceX CEO Elon Musk Takes A Dig At Boeing, Says Aircraft Companies Cannot Dominate Space Travel Industry</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/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Global

Tesla Recalls 870 Model X Vehicles In China Due To Safety Concerns Over Roof Trim Panels

Small Cap Consumer Research analyst Eric Beder reiterates Build-A-Bear Workshop (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBW#NYSE">BBW</a>) with a Buy and maintains $41 price target.

Small Cap Consumer Research Reiterates Buy on Build-A-Bear Workshop, Maintains $41 Price Target

Stifel analyst Selman Akyol downgrades EnLink Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENLC#NYSE">ENLC</a>) from Buy to Hold and maintains the price target from $15 to $15.

ENLC

Stifel Downgrades EnLink Midstream to Hold, Maintains Price Target to $15

Needham analyst James Ricchiuti maintains Stratasys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SSYS#NASDAQ">SSYS</a>) with a Buy and lowers the price target from $12 to $10.

SSYS

Needham Maintains Buy on Stratasys, Lowers Price Target to $10

Needham analyst Quinn Bolton reiterates Marvell Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) with a Buy and maintains $95 price target.

Needham Reiterates Buy on Marvell Tech, Maintains $95 Price Target

Google, a subsidiary of Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), announced on Thursday its plans to open a second data center in Latin America, specifically in Canelones, Uruguay.
What Happened: The company will invest more than $850 million in this new facility. Google first entered the Latin American data center market in 2015 with a facility in Quilicura, near Santiago, Chile. 
&#8220;We hope our new data center in Canelones will be a significant contribution to the professional and technological development of Uruguay and the entire region,&#8221; Google said in a blog post.
In May, Google announced a $3 billion investment for a data center campus in Indiana and expansion in Virginia, along with <a href="https://www.benzinga.com/markets/asia/24/05/39079224/google-pledges-2b-for-data-centre-and-cloud-services-in-malaysia">a $2 billion investment in Malaysia</a> for its first data center and Google Cloud region in the country.
In June, Google CEO&nbsp;Sundar Pichai&nbsp;announced <a href="https://www.benzinga.com/markets/equities/24/06/39393374/sundar-pichai-says-google-is-investing-2-3b-in-growing-technology-hub-ohio-for-expanding-googles">a $2.3 billion investment</a> in Ohio's data centers, further solidifying the state's position as a burgeoning tech hub.
See Also: <a href="https://www.benzinga.com/markets/equities/24/08/40582708/whats-going-on-with-nio-shares-today?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With NIO Shares Today?</a>
Why It Matters: The global data center market is <a href="https://www.benzinga.com/news/events/24/08/40554802/from-data-centers-to-the-cloud-transition-creates-new-challenges-for-it-pros-analyst-says">experiencing rapid growth</a>, driven by the increasing demand for cloud services and artificial intelligence infrastructure. According to Taz Koujalgi, managing director and equity research analyst at Wedbush Securities, cloud security remains in its early stages despite the swift adoption of these services.
China has also reportedly made significant investments in data centers, <a href="https://www.benzinga.com/government/24/08/40622630/us-embargo-fuels-chinas-6b-plus-data-center-investment-report">committing over $6 billion</a> following the U.S. semiconductor embargo. This move underscores the strategic importance of data centers in the global tech landscape.
Additionally, innovations in data center technology, such as those by Sustainable Metal Cloud, are making these facilities more efficient. Their technology, which <a href="https://www.benzinga.com/news/24/08/40568877/nvidia-backed-sustainable-metal-cloud-introduces-tech-to-cut-ai-data-center-energy-use-by-50">reduces energy consumption</a> by up to 50%, is crucial as the demand for high-density GPU hosting increases.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40617032/mark-cuban-wonders-if-sec-chair-gary-gensler-is-doing-everything-in-his-power-to-end-eliza?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Wonders If SEC Chair Gary Gensler Is Doing &#8216;Everything In His Power&#8217; To End Elizabeth Warren&#8217;s Senate Career</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/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Equities

GOOG

GOOGL

Google To Invest Over $850M In Second Latin American Data Center Amid Global Expansion Efforts

Piper Sandler analyst John Barnidge initiates coverage on Primerica (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRI#NYSE">PRI</a>) with a Neutral rating and announces Price Target of $283.

Initiation

Piper Sandler Initiates Coverage On Primerica with Neutral Rating, Announces Price Target of $283

Morgan Stanley analyst Simeon Gutman downgrades Dollar Gen (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) from Overweight to Equal-Weight and lowers the price target from $170 to $100.

Morgan Stanley Downgrades Dollar Gen to Equal-Weight, Lowers Price Target to $100

Fidelity Enhanced Mid Cap ETF declares monthly distribution of $0.0770

Fidelity Enhanced Mid Cap ETF declares quarterly distribution of $0.0770

FMDE

Get Our Top Trade Ideas Delivered Daily - 65% Off Now'

Get Our Top Trade Ideas Delivered Daily - 65% Off Now'

Comments

Fidelity Covington Trust Fidelity Enhanced Mid Cap ETF

News

Latest news for Fidelity Covington Trust Fidelity Enhanced Mid Cap ETF (ARCA:FMDE)