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FMS Enterprises Migun Ltd manufactures & sells ballistic protection technology globally. It provides non-woven uni-directional (UD) fabrics for hard & soft armor applications. It also offers pressed panels of UD fabrics for personal & vehicle protection. Its fabrics used as raw materials in the personal protection and protection of vehicles and transportation industries.

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FMS Enterprises Migun Ltd

Phillip Securities analyst Helena Wang downgrades Sea (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SE#NYSE">SE</a>) from Neutral to Reduce and raises the price target from $80 to $100.

News

Downgrades

Price Target

Analyst Ratings

Phillip Securities Downgrades Sea to Reduce, Raises Price Target to $100

Piper Sandler analyst John Barnidge initiates coverage on Apollo Global Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) with a Overweight rating and announces Price Target of $188.

Initiation

Piper Sandler Initiates Coverage On Apollo Global Management with Overweight Rating, Announces Price Target of $188

Piper Sandler analyst Michael Lavery downgrades Kraft Heinz (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) from Overweight to Neutral and lowers the price target from $40 to $35.

Piper Sandler Downgrades Kraft Heinz to Neutral, Lowers Price Target to $35

Morgan Stanley analyst Tim Hsiao initiates coverage on WeRide (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WRD#NASDAQ">WRD</a>) with a Overweight rating and announces Price Target of $23.

Morgan Stanley Initiates Coverage On WeRide with Overweight Rating, Announces Price Target of $23

CNBC&#8217;s Jim Cramer said on Monday that he believes reports of President-elect Donald Trump <a href="https://www.benzinga.com/markets/equities/24/11/42028797/tesla-soars-over-5-in-overnight-trading-as-trump-administration-reportedly-seeks-to-ease-fsd-norms">possibly relaxing autonomous driving regulations</a> is a &#8220;bad reason&#8221; for owning Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock. However, the Mad Money host is all for buying the EV giant&#8217;s stock.
What Happened: Bloomberg on Sunday reported that the Trump transition team wants to make a federal framework for self-driving cars, making it easier to deploy self-driving vehicles in the country. However, Cramer thinks that it is &#8220;too good to be true&#8221; and a &#8220;bad reason&#8221; for buying Tesla stock.
"While I don't buy the national self-driving mandate, I think nothing truly dulls the case for owning Tesla," <a href="https://www.cnbc.com/2024/11/18/jim-cramer-says-nothing-truly-dulls-the-case-for-owning-tesla-stock.html">he said.</a> "The Musk premium will work its magic in other ways, perhaps favorable municipalities and Tesla rentals next to federal highways."
The Trump transition team&#8217;s plans for robotaxis are &#8220;just plain fanciful,&#8221; Cramer said while noting that several state and local governments would have to agree to the new rules.
"No matter what, though, always remember that Tesla's a tech company," Cramer added. "The others are automakers, and a tech company can get an insanely high price-to-earnings multiple with no one blinking so much as an eye about it."
Why It Matters: Tesla is looking to deploy a fleet of autonomous vehicles starting next year in Texas and California. However, the company has yet to receive regulatory approvals for the same or achieve vehicle autonomy with its full self-driving (FSD) driver assistance technology. 
Musk, however, has previously expressed optimism that the technology will enable autonomous driving with future software updates. However, the billionaire CEO is known for <a href="https://www.benzinga.com/news/23/07/33477770/elon-musk-has-been-running-on-elon-time-since-he-was-a-kid-i-think-i-do-have-an-issue-with-time-but">providing over-ambitious timelines</a> that the company cannot deliver.
Musk has previously said that Tesla's robotaxi fleet will function like a <a href="https://www.benzinga.com/news/24/04/38396288/teslas-robotaxi-to-be-called-cybercab-elon-musk-says-self-driving-fleet-will-be-like-combination-of" target="_blank" rel="noreferrer noopener">combination of Airbnb and Uber</a>. While a certain portion of the fleet will be owned by Tesla, individual customers can also add or subtract their vehicles to the robotaxi fleet at will. As for riders, they can summon a car using the Tesla App, Musk said, putting Tesla as a <a href="https://www.benzinga.com/news/24/10/41265000/uber-announces-measures-to-ramp-up-electrification-of-its-fleet-ahead-of-teslas-robotaxi-unveil" target="_blank" rel="noreferrer noopener">competitor to Uber.</a>
Price Action: Tesla stock closed 5.6% higher on Monday at $338.74, but it was down 1.2% in premarket trading on Tuesday. Year-to-date, Tesla stock is up 36.4%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Check out more of Benzinga'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/tech/24/11/42033401/porsche-recalls-nearly-16k-taycan-evs-in-china-citing-fire-risk" target="_blank" rel="noreferrer noopener">Porsche Recalls Nearly 16K Taycan EVs In China Citing Fire Risk</a></li>
</ul>
Photo courtesy: Tesla

Analyst Color

Equities

Markets

Tech

TSLA

Jim Cramer Thinks Trump's Plans For Robotaxis Are 'Fanciful,' But He Is Still Bullish On Tesla Stock: 'The Musk Premium Will Work Its Magic In Other Ways'

Stock Split

PRFX

PainReform Announced Monday A 1:4 Reverse Share Split Of The Company's Ordinary Shares To Take Effect After Market Close On Wednesday, November 20, 2024

Vipshop Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIPS#NYSE">VIPS</a>) reported quarterly earnings of $0.35 per share which beat the analyst consensus estimate of $0.33 by 6.06 percent. This is a 23.91 percent decrease over earnings of $0.46 per share from the same period last year. The company reported quarterly sales of $2.95 billion which beat the analyst consensus estimate of $2.91 billion by 1.25 percent. This is a 5.57 percent decrease over sales of $3.12 billion the same period last year.

Earnings

Earnings Beats

VIPS

Vipshop Holdings Q3 Adj EPADS $0.35 Beats $0.33 Estimate, Sales $2.95B Beat $2.91B Estimate

Macro Economic Events

Econ #s

Economics

Eurozone Consumer Price Index (MoM) For October 0.3% Vs. 0.3% Est.; -0.1% Prior

Eurozone Consumer Price Index (YoY) For October 2.0% Vs. 2.0% Est.; 2.0% Prior

Eurozone Core Consumer Price Index (YoY) For October 2.7% Vs. 2.7% Est.; 2.7% Prior

Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) faces heightened scrutiny <a href="https://www.benzinga.com/general/market-summary/24/11/42055795/nvidia-shares-to-climb-over-140-levels-says-technical-analyst-ahead-of-q3-results-will-have-to-beat-street-expectations-for-the-trend-to-continue">ahead of its earnings</a> as technical challenges with its latest artificial intelligence chips and broader market pressures raise concerns, according to Mizuho analyst Jordan Klein.
What Happened: Klein, a longtime Nvidia bull, warned investors that the semiconductor giant&#8217;s shares are &#8220;modestly at risk&#8221; following reports of overheating issues in its new Blackwell systems, <a href="https://www.investing.com/news/stock-market-news/biggest-nvidia-bull-on-wall-street-warns-shares-are-modestly-at-risk-3728239?ref=biztoc.com">reported</a> Investing.com. 
The timing is particularly sensitive given Nvidia&#8217;s recent ascent to become the world&#8217;s most valuable company, with a market capitalization of $3.482 trillion.
&#8220;There is just so much quant, passive, and fast momentum money swirling around in markets these days and I assume that style sells first, asks questions later,&#8221; Klein noted in his investor communication, highlighting the volatile nature of current market dynamics.
See Also: <a href="https://www.benzinga.com/24/11/42054405/amazon-and-spacexs-efforts-to-block-nlrb-cases-in-jeopardy-as-appeals-court-raises-key-legal-concerns">Amazon And SpaceX&#8217;s Efforts To Block NLRB Cases In Jeopardy As Appeals Court Raises Key Legal Concerns</a>
Why It Matters: The Blackwell chips, unveiled in March and promising 30 times faster performance than previous generations, have <a href="https://www.benzinga.com/24/11/42028342/blackwell-backfires-nvidias-ai-chips-struggle-with-server-overheating-impacting-meta-microsoft-and-musks-xai-data-centers">reportedly encountered thermal issues</a> when installed in high-density server racks.
Major customers potentially affected include Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) subsidiary Google.
Nvidia has responded to the situation, with a spokesperson telling Reuters that &#8220;engineering iterations are normal and expected&#8221; while working with cloud service providers.
Despite these immediate challenges, Klein maintains his long-term optimistic outlook for Nvidia but cautions about near-term volatility, particularly from retail and momentum-driven investors who &#8220;purely react to headlines and initial stock moves.&#8221;
However, CNBC&#8217;s Jim Cramer offered a contrasting view, suggesting the market&#8217;s reaction might be overdone. &#8220;Be skeptical about the negatives with Nvidia,&#8221; Cramer posted on X. He later <a href="https://www.cnbc.com/2024/11/18/cramer-weighs-nvidia-after-blackwell-ai-chip-overheating-report.html">expanded</a> on CNBC, saying, &#8220;I&#8217;m more inclined to think you&#8217;re getting a buying opportunity in Nvidia thanks to The Information publishing a story that may simply not be that.&#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">Be skeptical about the negatives with Nvidia&#8230;
&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1858515094663012549?ref_src=twsrc%5Etfw">November 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/global/24/11/42052735/boeing-to-lay-off-over-2500-workers-in-the-us-amid-global-workforce-reduction">Boeing To Lay Off Over 2,500 Workers In The US Amid Global Workforce Reduction</a></li>
</ul>
Image Via Unsplash
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Global

AMAT

GOOGL

MSFT

NVDA

Nvidia 'Modestly At Risk' Amid AI Chip Concerns, Analyst Notes: Momentum Money Swirling Around 'Sells First, Asks Questions Later'

Stephens &amp; Co. analyst Jim Salera reiterates Wendy's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEN#NASDAQ">WEN</a>) with a Equal-Weight and maintains $19 price target.

Reiteration

Stephens & Co. Reiterates Equal-Weight on Wendy's, Maintains $19 Price Target

Keybanc analyst Ken Newman maintains Symbotic (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYM#NASDAQ">SYM</a>) with a Overweight and raises the price target from $40 to $48.

Keybanc Maintains Overweight on Symbotic, Raises Price Target to $48

Google&#8216;s parent company Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) experienced a decline in its stock value during pre-market trading on Tuesday. As per <a href="https://pro.benzinga.com">Benzinga Pro</a>, GOOGL shares fell by 1.02%, while GOOG shares decreased by 1.01%. This downturn follows reports that the U.S. Department of Justice is <a href="https://www.benzinga.com/news/legal/24/11/42053249/google-could-lose-chrome-browser-in-dojs-latest-antitrust-move">preparing to request a court order</a> requiring Google to divest its Chrome browser.
What Happened: The DOJ&#8217;s action stems from an August ruling that found Google guilty of illegally monopolizing the search market. Additionally, the department is expected to propose measures concerning Google&#8217;s AI and Android operating system.
Google&#8217;s Chrome browser, which commands approximately two-thirds of the global browser market, plays a vital role in controlling internet traffic and ad visibility, making it a significant revenue source for Google.
Google plans to appeal following a final ruling by U.S. District Judge Amit Mehta, expected by August 2025.
See Also: <a href="https://www.benzinga.com/news/retail-sales/24/11/42024288/consumer-tech-news-november-11-15-apple-plans-to-launch-an-ai-wall-tablet-meta-plans-to-introduce-ads-on-threads-more?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Consumer Tech News (November 11-15): Apple Plans To Launch An AI Wall Tablet, Meta Plans To Introduce Ads&nbsp;On Threads &amp; More</a>
Why It Matters: As Alphabet approaches the Department of Justice&#8217;s <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42036010/alphabet-on-trial-doj-remedies-loom-but-analyst-sees-20-upside-as-discount-to-meta-narrows">final proposed remedies</a> on Nov. 20, the stakes are high. JPMorgan analyst Doug Anmuth anticipates potential headline risk but also sees this as an opportunity for clarity, paving the way for Google&#8217;s response and future appeal strategies. Despite the looming legal challenges, Anmuth maintains an Overweight rating on GOOGL stock, with a price target of $212, 20% above current levels.
Meanwhile, Verily, Alphabet&#8217;s <a href="https://www.benzinga.com/news/global/24/11/42053801/alphabets-life-sciences-firm-verily-to-become-a-standalone-entity-disconnect-from-google">life sciences subsidiary, </a>is preparing to become a standalone entity by December. This separation from Google, including cutting ties with its cloud infrastructure and employee benefits, is seen as a crucial step towards Verily&#8217;s goal of operating independently, though it will remain part of Alphabet.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/social-media/24/11/42022443/ibm-disney-and-other-large-advertisers-return-to-elon-musks-x-after-a-year-long-boycott-we-super-appreciate?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">IBM, Disney And Other Large Advertisers Return To Elon Musk&#8217;s X After A Year-Long Boycott: &#8216;We Super Appreciate&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Unsplash

Pre-Market Outlook

General

GOOG

Google's Parent Alphabet Shares Dip During Tuesday Pre-Market: What's Going On?

Citadel LLC&nbsp;CEO&nbsp;Ken Griffin, on Monday, while speaking at Oxford Union in the UK said that President-elect Donald Trump&#8216;s economic policies including tariffs are a &#8220;long, slippery slope,&#8221; that will hurt U.S. companies in the long run to compete globally.
What Happened: Griffin, a significant Republican donor, expressed confidence in Trump&#8217;s victory, saying that the U.S. economy is going back to "the business of business" after calling the former president&#8217;s economic policies as &#8220;regretfully&#8221; last year, <a href="https://www.bloomberg.com/news/articles/2024-11-18/ken-griffin-says-he-s-very-anxious-about-trump-s-tariff-policy">reported</a> Bloomberg. 
Since founding Citadel in 1990, Griffin has grown the company into a $65 billion giant and accumulated a personal fortune that, according to the Bloomberg Billionaires Index, is currently <a href="https://www.bloomberg.com/billionaires/profiles/kenneth-c-griffin/">valued</a> at $42.2 billion.
The 56-year-old hedge fund billionaire said he believes countries continue to spend more than they can afford and that he expects Trump&#8217;s administration would reduce the size of government in a broad conversation that covered a variety of subjects, including politics, investing, and immigration.
See Also: <a href="https://www.benzinga.com/general/market-summary/24/11/42055795/nvidia-shares-to-climb-over-140-levels-says-technical-analyst-ahead-of-q3-results-will-have-to-beat-street-expectations-for-the-trend-to-continue">Nvidia Shares To Climb Over $140+ Levels, Says Technical Analyst Ahead Of Q3 Results</a>
<a href="https://pro.benzinga.com/dashboard">Benzinga</a> has reached out to Citadel for additional comments in this regard.
Why It Matters: Recently, tech investor and&nbsp;Palantir Technologies'&nbsp;co-founder&nbsp;Peter Thiel&nbsp;has made a daring prediction about the potential impact of Trump's&nbsp;<a href="https://www.benzinga.com/markets/24/11/42028954/peter-thiel-says-trumps-60-china-tariff-would-be-very-very-bad-for-beijing-heres-whats-at-stake">60% tariff on Chinese goods</a>.
Thiel said that shifting manufacturing from China to Vietnam would significantly harm China, and have only a minor impact on American consumers. From a geopolitical perspective, he argued, this move would align closely with American strategic interests.
Goldman Sachs estimates that a <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42042411/inflation-could-surge-to-3-if-trump-applies-universal-tariffs-goldman-sachs">potential universal tariff</a> would raise core personal consumption expenditures inflation — the Fed's favorite inflation gauge — by 0.9-1.2 percentage points at its peak, pushing inflation back to 3%.
Moreover, a recent study by the National Retail Federation warns that Trump's&nbsp;proposed tariffs could significantly impact American consumers, potentially reducing annual <a href="https://www.benzinga.com/news/24/11/41737933/trump-tariff-proposed-may-cost-americans-78b-in-spending-study">spending by $78 billion</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42052848/cathie-woods-ark-sells-10m-of-tesla-stock-as-trumps-av-plans-boost-stock">Cathie Wood&#8217;s Ark Sells $10M Of Tesla Stock As Trump&#8217;s AV Plans Boost Stock</a></li>
</ul>
Image via Flickr
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

GOP Megadonor Ken Griffin Warns Of 'Slippery Slope' In Trump's Tariff Plans, Sees US Returning To 'The Business Of Business'

BTIG analyst Julian Harrison upgrades Aclaris Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACRS#NASDAQ">ACRS</a>) from Neutral to Buy and announces $8 price target.

Upgrades

ACRS

BTIG Upgrades Aclaris Therapeutics to Buy, Announces $8 Price Target

Bernstein analyst Alex Irving downgrades Sabre (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SABR#NASDAQ">SABR</a>) from Market Perform to Underperform and announces $3 price target.

SABR

Bernstein Downgrades Sabre to Underperform, Announces $3 Price Target

Needham analyst Gil Blum reiterates Fate Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FATE#NASDAQ">FATE</a>) with a Hold.

FATE

Needham Reiterates Hold on Fate Therapeutics

<ul>
<li>Combination of Complementary Businesses Expands Product Offering and Capabilities to Support Higher Growth for Customers</li>
<li>Combined R&amp;D and Innovation Investment Accelerates Development of Sustainable Packaging Solutions and Delivers Greater Choice for Customers and Consumers</li>
<li>$650 Million Annual Earnings Synergies Benefit</li>
<li>Over 35% Adjusted Cash EPS Accretion</li>
</ul>

AMCR

BERY

Amcor And Berry Global Join Forces In All-Stock Merger With $650M Synergies And 35% Adj. Cash EPS Accretion

HC Wainwright &amp; Co. analyst Matthew Caufield reiterates Adverum Biotechnologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADVM#NASDAQ">ADVM</a>) with a Buy and maintains $30 price target.

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