Columbia International Equity Income ETF (ARCA: INEQ)

Latest news for Columbia International Equity Income ETF (ARCA:INEQ)

Industrials

Energy

Technology

Financial Services

Healthcare

Communication Services

Consumer Cyclical

Utilities

Basic Materials

Consumer Defensive

Real Estate

Other

The fund invests at least 80% of its assets in the component securities of the index and depositary receipts representing such securities. The index, which typically holds common stocks and depositary receipts, was constructed to provide exposure to foreign large- and mid-cap companies that are believed to offer sustainable levels of income, as well as total return opportunity.

Tencent Holdings Ltd

Mahindra & Mahindra Ltd

Chunghwa Telecom Co Ltd

Uni-President Enterprises Corp

PDD Holdings Inc

Columbia International Equity Income ETF

Needham analyst Joseph Stringer reiterates Pliant Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLRX#NASDAQ">PLRX</a>) with a Buy and maintains $38 price target.

News

Price Target

Reiteration

Analyst Ratings

PLRX

Needham Reiterates Buy on Pliant Therapeutics, Maintains $38 Price Target

Trading Ideas

Scotts Miracle-Gro Halted Due To News Pending

WIIM

NTWK

NETSOL Technologies shares are trading higher after the company announced it signed a $16 million agreement with an automaker.

GLJ Research analyst Gordon Johnson reiterates SunPower (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPWR#NASDAQ">SPWR</a>) with a Sell and maintains $1.61 price target.

SPWR

GLJ Research Reiterates Sell on SunPower, Maintains $1.61 Price Target

Wall Street continues to experience a series of memorable days, with the bulls riding the rally with increasing confidence, certain that the Federal Reserve will begin cutting <a href="https://www.benzinga.com/topic/interest-rates">interest rates in September.</a>
Fed futures currently indicate a 100% probability that policymakers will cut interest rates in two months, according to the CME Group&#8216;s FedWatch tool.
This time, blue-chip stocks and gold are stealing the spotlight by breaking their all-time highs, while small caps, as tracked by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), have posted their fifth consecutive day in the green, marking their best five-day rally <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39797464/small-caps-are-having-a-moment-russell-2000-notches-best-5-day-rally-in-over-4-year">in over four years.</a>
The Dow Jones Industrial Average surged to 40,800 points at 12:30 p.m. ET, up 1.5%, marking its best session since late May. Sector-wise, industrials rose 2.1%, eyeing the strongest one-day gain since October.
The S&amp;P 500 increased marginally by 0.3%, while tech stocks in the Nasdaq 100 slipped by 0.4%, as the rotation from large-cap tech to small-cap and cyclical laggards continues.
Gold, as tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), rose 1.6% to $2,460 per ounce, as Treasury yields sharply fell following Powell&#8217;s dovish remarks on Monday and a stagnation in <a href="https://www.benzinga.com/markets/bonds/24/07/39792320/june-retail-sales-stagnate-traders-fully-price-in-september-interest-rate-cut">retail sales growth in June.</a> The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) rallied 1.1%. 
Oil prices dropped to $80 a barrel, down 1%, heading for the lowest close in nearly a month.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell by 0.5%, on track to snap a four-day losing streak.
<h1 class="wp-block-heading">Chart of The Day: Blue-Chip Stocks Achieve All-Time Highs</h1>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="490" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16122752/image-23-1024x490.png" alt="" class="wp-image-439050" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16122752/image-23-1024x490.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16122752/image-23-300x143.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16122752/image-23-768x367.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16122752/image-23-1536x734.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16122752/image-23.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Image: <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071624&amp;t=be2bearmibe3na1">Benzinga Pro</a>
<h1 class="wp-block-heading">Tuesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % change</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,240.18</td>
<td>2.3%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,816.48</td>
<td>1.5%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,646.17</td>
<td>0.3%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,296.39</td>
<td>-0.4%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:30 p.m. ET</figcaption></figure>
According to <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071624&amp;t=be2bearmibe3na1">Benzinga Pro </a>data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.2% higher to $562.48.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose by 1.4% to $408.06.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA:&nbsp;<a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) eased 0.5% to $493.58.</li>
<li>Sector-wise, the&nbsp;Industrials&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>)&nbsp;outperformed, up by 2.2%, while the&nbsp;Technology Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, down 0.9%.</li>
</ul>
<h1 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h1>
<ul>
<li>Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) soared over 5%, marking new all-time highs and the strongest day in 2024 amid stronger than <a href="https://www.benzinga.com/news/earnings/24/07/39790011/bank-of-americas-q2-earnings-revenue-and-eps-beat-1-5b-credit-loss-provision-sees-q4-nii-growth">expected results in the second quarter. </a></li>
<li>Other stocks reacting to company earnings were UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>), up 5.3%; Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), up 2.6%; Charles Schwab Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>), down over 8%; Progressive Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>), down 3.4%; PNC Financial Services Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>), up 4.4% and State Street Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>), up 5.9%.</li>
<li>Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) rose over 4% as Bernstein increased the company&#8217;s price target from $215 to $222 amid a restart of China deliveries.</li>
<li>Grail Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRAL#NYSE">GRAL</a>) surged over 18% following the company&#8217;s announcement that it successfully enrolled more than 35,000 participants for its potential multi-cancer early detection test.</li>
<li>Match Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>) shares are trading higher on Tuesday after activist investment fund Starboard Value sent a letter to the company outlining initiatives to improve growth, <a href="https://www.benzinga.com/markets/equities/24/07/39785537/tinder-parent-match-group-soars-nearly-9-in-after-hours-trading-as-activist-hedge-fund-starboard">profitability, and capital allocation.</a></li>
<li>Shares of Trump Media &amp; Technology Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) dropped over 8% on Tuesday, following a surge of more than 30% the previous day.</li>
<li>Pacific Biosciences of California, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PACB#NASDAQ">PACB</a>) gained 28%, topping the performance within Russell 2000 constituents. </li>
</ul>
Read Now:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39780995/rate-sensitive-cyclical-stocks-poised-for-rally-as-fed-prepares-to-cut-rates-were-o">Rate-Sensitive Cyclical Stocks Poised For Rally As Fed Prepares To Cut Rates: &#8216;We&#8217;re On The Path To Goldilocks,&#8217; Says Bank Of America</a></li>
</ul>
Photo: Shutterstock

Earnings

Large Cap

Mid Cap

Sector ETFs

Bonds

Broad U.S. Equity ETFs

Retail Sales

Small Cap

Treasuries

Econ #s

Federal Reserve

Tech

ETFs

$BTC

SPDR Dow Jones Industrial Average ETF Trust

GRAL

MTCH

PACB

SCHW

iShares Trust Barclays 20+ Year Treasury Bond Fund

Dow Rallies To All-Time Highs, Small Caps Outperform Tech, Gold Hits Records On Heightened September Rate Cut Bets: What's Driving Markets Tuesday?

Macro Economic Events

Politics

Legal

Economics

General

Majority Leader Of The U.S. Senate Schumer Calls For Menendez To Resign From Senate Following Conviction

<ul>
<li>Apple&#39;s iOS 18 public beta features numerous enhancements aimed at improving the user experience on iPhones through advanced AI technologies.</li>
<li>Apple&#39;s financial health remains robust, as evidenced by a recent surge in its stock price.</li>
</ul>
&nbsp;
Apple Inc&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) ongoing innovation captures the attention of users and investors alike, especially with the release of the iOS 18 public beta. This new version brings various improvements to enhance the iPhone experience, featuring both visual and functional upgrades, along with advanced AI technologies.
A key feature of iOS 18 is its revamped user interface, offering deeper customization options. Users can now tailor their devices to fit their personal preferences and usage patterns. This change reflects Apple&#39;s commitment to user-centric design and recognizes the diverse ways people use their devices.
Additionally, iOS 18 impr oves app functionality to streamline user interactions and boost overall efficiency, making common tasks more intuitive and less time-consuming. Users can expect a smoother experience through refined app interfaces and transitions.
Perhaps the most exciting aspect of iOS 18 is its advanced AI capabilities, including new features for Siri and the anticipated inclusion of ChatGPT technologies.
Although these updates are not in the current beta, they are expected later this year and represent a significant leap in how AI is used within mobile ecosystems.
Siri&#39;s enhancements are set to redefine voice-assisted interactions, offering more accurate responses and broader contextual understanding.
Alongside these software advancements, Apple&#39;s financial performance remains impressive. The company&#39;s stock hit a new record high at the beginning of the week, opening higher by 2.5%, demonstrating strong investor confidence.
Despite a slight dip from the initial gains, Apple still ended the day with a notable increase, closing up 1.65% from the previous trading day, keeping its stock value on an upward trend.
This brings the year to date growth to 21% and July has so far seen a bullish move of 11%.
<img alt="aapl_2024-07-16_15-22-54_f0688_1.png" src="https://www.benzinga.com/files/u517520/aapl_2024-07-16_15-22-54_f0688_1.png" style="height:308px; width:624px" />
This positive movement reflects not just temporary market sentiments but also a recognition of Apple&#39;s strategic direction and consistent value delivery.
Looking ahead, the company&#39;s stock seems poised for further gains, with investors targeting the $250 mark as the next key resistance level. This optimism is fueled by Apple&#39;s history of surpassing market expectations and its ongoing push for technological innovation, as seen in the updates to iOS 18.
After the closing bell on Monday, June 24, the stock closed at $234.40, trading up by 1.67%.
image:&nbsp;CHERRY.JUICE / Shutterstock.com
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

Markets

AAPL

Apple's iOS 18 Ignites User Experience With Sleek Upgrades and AI Mastery While Its Stock Value Soars 21%

Several factors could help Baidu.com Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) Robotaxi initiative disrupt <a href="https://www.benzinga.com/topic/mobility">urban transportation, analysts note</a>.
What Happened: According to Goldman Sachs&#8217; Lincoln Kong, Baidu&#8217;s Robotaxi launch is expected to accelerate user adoption and expand the company&#8217;s presence in the autonomous vehicle market.
At this early stage, policy support from city governments and increasing Robotaxi fleet coverage are pivotal. These factors are not only driving user adoption but also setting the groundwork for Baidu&#8217;s future revenue growth. 
While near-term revenue contributions are expected, the scalability of the car fleet and improvements in unit economics are critical for long-term success, Kong says. 
Here are the factors that will influence Robotaxi&#8217;s profitability:
<ul>
<li>Average Price Per Trip: Baidu offers an 80% discount compared to regular taxis. This will likely phase out as the service gains traction. </li>
<li>Utilization Rate: With cars currently operating at over 60% utilization, there is room for efficiency improvements. </li>
<li>Safety Personnel: Baidu&#8217;s current setup involves one person monitoring two cars. In cities like Wuhan, the RT6 launch could see fully driverless operations, significantly improving economics.</li>
</ul>
Kong projects that Baidu could achieve positive unit economics by 2025. Daily operating profits per car range from RMB 25 to 300.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/07/39789018/baidu-backed-jiyue-to-launch-jiyue-07-electric-sedan-in-september-larger-than-tesla-model-3-repo">Baidu-Backed Jiyue To Launch Jiyue 07 Electric Sedan In September; Larger Than Tesla Model 3: Report</a>
Why It Matters: Over the past few weeks, Baidu has made significant strides in its Robotaxi policy rollout. It had gained support from major cities like Shanghai and Beijing. This support is crucial as Baidu prepares to launch its next-generation RT6 Robotaxi before the end of 2024.
The global Robotaxi market could reach $25 billion in the long term. In China alone, with its 4-5 million ride-hailing cars, even a modest 5% Robotaxi penetration could translate to a RMB 35 billion (US$5 billion) market, says Kong.
What&#8217;s Next: Despite the promising Robotaxi prospects, Baidu faces near-term softness in advertising due to macroeconomic challenges and its AI-driven revamp of the search experience. 
Kong anticipates a turnaround in ad revenue by year-end, alongside accelerated growth in Baidu's cloud business in the second half of 2024.
Price Action: Goldman Sachs maintains a Buy rating for Baidu, with a revised 12-month price target of $144. The current share price of $93.15 implies a significant upside of 54.6%.
On last check Tuesday, Baidu shares were up 0.68%.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39768528/alibaba-chinese-tech-stocks-and-ev-stocks-nio-xpeng-li-auto-tumble-after-disappointing-economic-repo">Alibaba, Chinese Tech Stocks And EV Stocks NIO, XPeng, Li Auto Tumble After Disappointing Economic Report</a></li>
</ul>
Image: Shutterstock

Analyst Color

Asia

Long Ideas

Emerging Markets

BIDU

Baidu's Robotaxi Sets Stage For Driverless Revolution With 54.6% Upside: Analyst

Illinois celebrated the opening of its 100th social equity-owned cannabis dispensary on Friday, a milestone that coincides with the release of a state-commissioned disparity study proclaiming Illinois as having the &#8220;most diverse cannabis business ownership in the nation.&#8221;
<h3 class="wp-block-heading">Fostering Cannabis Industry Diversity</h3>
The ribbon-cutting ceremony in Champaign marked the launch of the marijuana shop but also highlighted Illinois&#8217; continued efforts to foster diversity and inclusion within its <a href="http://benzinga.com/topic/illinois-cannabis" target="_blank" rel="noreferrer noopener">cannabis industry</a>. According to an official <a href="https://www.illinois.gov/news/press-release.30208.html" target="_blank" rel="noreferrer noopener">press release</a>, these initiatives are crucial in transforming a sector that has historically been dominated by non-minority groups.
&#8220;We&#8217;re very excited to have been selected and to be part of the Illinois social equity program,&#8221; said The Dispensary Champaign owner Jeff Soenksen. &#8220;We&#8217;re grateful to IDFPR for their exceptional service and professionalism during the process to date.&#8221; The 
&#8220;We&#8217;re very excited to have been selected and to be part of the Illinois social equity program,&#8221; said The Dispensary Champaign owner Jeff Soenksen. &#8220;We&#8217;re grateful to IDFPR for their exceptional service and professionalism during the process to date,&#8221; referring to the Illinois Department of Financial and Professional Regulation.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39649687/illinois-sees-continued-growth-in-cannabis-sales-in-2024-whats-next">Illinois Sees Continued Growth In Cannabis Sales In 2024: What&#8217;s Next?</a>
<h3 class="wp-block-heading">Illinois Cannabis Industry Diversity Study Results</h3>
The comprehensive disparity <a href="https://cannabis.illinois.gov/legal-and-enforcement/disparity-study.html">study</a>, conducted by the Illinois Cannabis Regulation Oversight Office (CROO), scrutinized the allocation of 559 adult-use cannabis licenses issued to over 400 businesses from January 2020 to January 2023. The findings indicate that 60% of these licenses were awarded to minority- or women-owned businesses.
Governor JB Pritzker <a href="https://gov-pritzker-newsroom.prezly.com/independent-disparity-study-finds-illinois-has-most-diverse-cannabis-business-ownership-in-the-nation" target="_blank" rel="noreferrer noopener">commented</a> on the findings. "We're incredibly proud of our emerging cannabis industry, and we're fully committed to making this an industry where people most affected by the War on Drugs can start their own business and thrive."
He further emphasized the state&#8217;s approach. "That&#8217;s why Illinois commissioned the largest, independently reviewed cannabis-focused disparity study in the nation, and the results show that our administration's policies focused on social equity have paid off."
<h3 class="wp-block-heading">Illinois Cannabis Sales Surpass $1 Billion</h3>
Illinois' cannabis industry has indeed grown substantially, <a href="https://www.benzinga.com/markets/cannabis/24/07/39750143/illinois-cannabis-sales-surpass-1b-by-july-setting-new-record" target="_blank" rel="noreferrer noopener">with total sales surpassing $1 billion by July, ahead of previous years&#8217; figures</a>. This growth contributes significantly to the state&#8217;s tax revenue, <a href="https://www.benzinga.com/markets/cannabis/24/07/39731191/illinois-2024-cannabis-sales-reach-1b-milestone-faster-than-expected-are-out-of-state-consumers-" target="_blank" rel="noreferrer noopener">supporting various community development programs</a>. As some<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38282615/cannabis-brands-leading-market-expansion-in-east-midwest-a-look-at-prices-and-trend" target="_blank" rel="noreferrer noopener"> dominant players</a> like Cresco Labs (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTC">CRLBF</a>), Green Thumb Industries (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTC">GTBIF</a>) and Curaleaf Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>) have presence in the state, the ongoing regulatory efforts by Illinois aims to ensure that the cannabis industry remains a competitive and fair marketplace.
As Illinois marks these strides in regulatory reform, the upcoming <a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">Benzinga Cannabis Capital Conference</a> in Chicago on October 8-9 will dive deeper into these achievements. This event will serve as a privilege place to discuss Illinois&#8217; policies and analyze how these strategies can be adapted by other states. Join industry leaders as they explore the future of equitable cannabis market growth and the role of regulation in shaping a just and thriving industry. <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">Get your tickets now</a> before prices surge by following <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/20/08/17038250/pinnacle-emporium-regards-michigan-as-one-of-the-fastest-growing-cannabis-markets-in-the-u-s" target="_blank" rel="noreferrer noopener">Pinnacle Emporium Regards Michigan As One Of The Fastest Growing Cannabis Markets In The U.S.</a></li>
</ul>
Cover image created with generative AI tools.

Cannabis

Government

Regulations

CRLBF

CURALEAF HLDGS INC by Curaleaf Hldgs Inc.

CURLF

GTBIF

Illinois Has The 'Most Diverse Cannabis Business Ownership' In The Country, Opens 100th Social Equity Shop

Air Products and Chemicals, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APD#NYSE">APD</a>) shares are trading higher today. Aramco has agreed to acquire a 50% stake in its Blue Hydrogen Industrial Gases <a href="https://www.aramco.com/en/news-media/news/2024/aramco-to-acquire-50-stake-in-air-products-qudras-blue-hydrogen-industrial-gases-company" target="_blank" rel="noreferrer noopener">Company (BHIG)</a>.
In particular, Saudi Arabia&#8217;s largest oil company, Aramco, inked definitive deals to acquire a stake in BHIG, which is based in Jubail and a subsidiary of Air Products Qudra (APQ).
After the transaction, Aramco and APQ, a joint venture of Air Products and Qudra Energy, will each own 50% of BHIG.
The transaction is contingent on standard closing conditions and includes provisions for Aramco to secure hydrogen and nitrogen offtake options.
Aramco is expanding its lower-carbon hydrogen business and alternative energy portfolio through an investment in BHIG.
Dr. Samir J. Serhan, Air Products Qudra Chairman, commented, &#8220;It is an honor to further extend Air Products Qudra&#8217;s strong partnership with Aramco, working to accelerate the hydrogen economy and driving the creation of the largest hydrogen network in the Middle East, which is expected to serve the refining, chemical, and petrochemical industries.&#8221;
Ashraf Al Ghazzawi, Aramco Executive Vice President of Strategy &amp; Corporate Development, said, &#8220;We intend to leverage our growing capabilities in carbon capture and storage (CCS), as well as our technical expertise in hydrogen, with the ambition to support the establishment of a vibrant marketplace for lower-carbon hydrogen — helping lay the foundations of a future energy system.&#8221;
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39709835/honeywells-1-81b-power-play-acquires-air-products-lng-tech-to-lead-energy-transition" rel="noreferrer noopener">Honeywell&#8217;s $1.81B Power Play: Acquires Air Products&#8217; LNG Tech to Lead Energy Transition</a>
Investors can gain exposure to APD via&nbsp;IShares U.S. Basic Materials ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYM#NYSE">IYM</a>) and Materials Select Sector SPDR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>).
Price Action: APD shares are up 3.49% at $268.91 at the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock

Equities

Asset Sales

Movers

iShares Trust Dow Jones US Basic Materials Sector Index Fund

Why Air Products and Chemicals Shares Are Surging Today

TD Cowen analyst Matthew Ramsay maintains Broadcom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) with a Buy, adjusts target to $210 from $1750 (10-1 Stock Split).

AVGO

TD Cowen Maintains Buy on Broadcom, Adjusts Price Target To $210 (10-1 Stock Split)

According to a federal lawsuit, Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) is accused of infringing on 11 patents owned by Chinese chipmaker Yangtze Memory Tech. Co. Ltd. (YMTC).
YMTC claims the key Biden&#8217;s <a target="_blank" href="https://www.benzinga.com/government/24/05/38650086/intel-micron-among-winners-in-bidens-280b-chips-act-for-semiconductor-advancement" rel="noreferrer noopener">Chips Act beneficiary</a> used its patented inventions without authorization after YMTC surpassed Micron in the flash memory market in 2023, Bloomberg Law <a target="_blank" href="https://news.bloomberglaw.com/ip-law/micron-infringed-11-ymtc-semiconductor-tech-patents-suit-says" rel="noreferrer noopener">reports</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/39748984/taiwans-president-expresses-gratitude-to-micron-ceo-for-ongoing-investment" rel="noreferrer noopener">Taiwan&#8217;s President Expresses Gratitude To Micron CEO For Ongoing Investment</a>
The complaint was filed on July 12 in the US District Court for the Northern District of California, just one day after a Texas judge upheld a $445 million jury verdict against Micron for infringing Netlist Inc.&#8217;s semiconductor patents.
<a target="_blank" href="https://www.benzinga.com/government/24/03/37947552/microns-strategic-moves-in-china-ceo-mehrotras-talks-and-expansion-plans-amid-shift-from-us-tech" rel="noreferrer noopener">Earlier in 2024</a>, Micron CEO Sanjay Mehrotra met with China&#8217;s Minister of Commerce to discuss deepening Micron&#8217;s operations and new investments in China. Mehrotra outlined Micron&#8217;s business plans and committed to complying with Chinese regulations, indicating a strong focus on expanding in the Chinese market.
Recently, <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39753049/micron-technology-analysts-remain-bullish-after-management-meetings-ai-could-become" rel="noreferrer noopener">analysts flagged</a> Micron&#8217;s optimistic outlook on pricing and the shift towards AI computing and enterprise storage products. The company aims to increase its share of high-bandwidth memory (HBM) to 20% to 25% by 2025, targeting a market exceeding $20 billion.
Investors can gain exposure to Micron through VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) and Vanguard Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTV#NYSE">VTV</a>).
Price Action: MU shares traded lower by 2.09% at $128.13 at the last check on Tuesday.
Photo via Shutterstock

Media

What's Going On With Micron Technology Stock On Tuesday?

B of A Securities analyst Ming Hsun Lee maintains XPeng (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) with a Buy and lowers the price target from $12.7 to $11.7.

XPEV

B of A Securities Maintains Buy on XPeng, Lowers Price Target to $11.7

KSCP

Knightscope shares are trading higher after the company announced the Knightscope K1 Laser.

The United Auto Workers (UAW)union is calling out the Biden administration for not pursuing accusations of labor abuses by <a href="https://www.benzinga.com/news/24/06/39297479/whats-going-on-with-caterpillar-shares-wednesday">a Mexican subsidiary</a> of Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>), a U.S. manufacturer of earth-moving equipment.
In late June, the administration told a group of unions that it would not follow up on the complaint that the subsidiary retaliated against striking union members by making it difficult for them to find other jobs through blacklisting, the New York Times <a href="https://www.nytimes.com/2024/07/15/business/economy/uaw-usmca-mexico-trade-caterpillar.html">reported</a>.
Government policing of such violations under the U.S.-Mexico-Canada Agreement is intended to discourage American employers from moving jobs to Mexico for weaker labor protections.
Also Read: <a href="https://www.benzinga.com/news/24/04/38363664/after-uaw-wins-big-in-tennessee-40m-campaign-continues-35-car-plants-are-next">After UAW Wins Big In Tennessee, $40M Campaign Continues: 35 Car Plants Are Next</a>
The UAW argues the Biden administration may be encouraging companies to relocate work by declining to respond to the union complaint, the New York Times reported.
Caterpillar workers in Mexico "face harassment and blacklisting for daring to stand up, with no help from the U.S.M.C.A.," Shawn Fain, the president of the UAW, said in a statement. The UAW was among several labor groups that rose the complaint.
The Biden administration declined to comment on the complaint, but pointed to two dozen other cases it had pursued under the trade agreement. 
Caterpillar did not respond to Benzinga&#8217;s requests for comment on Tuesday.
Price Action: Caterpillar gained 2.15% to $353.20 in Tuesday&#8217;s mid-morning trading.
Global X Dow 30 Covered Call ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DJIA#NYSE">DJIA</a>) gained 0.22%, while Global X Dow 30 Covered Call &amp; Growth ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DYLG#NYSE">DYLG</a>) edged up 0.26% and SPDR Dow Jones Industrial Average ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) jumped 1.27%. 
Amplify CWP Enhanced Dividend Income ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIVO#NYSE">DIVO</a>) advanced 0.96% and Inspire 100 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BIBL#NYSE">BIBL</a>) picked up 0.19%.
Read Now:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39748499/uaw-president-shawn-fain-worried-about-bidens-re-election-chances-against-trump-report">UAW President Shawn Fain Worried About Biden&#8217;s Re-Election Chances Against Trump: Report</a></li>
</ul>
Photo: Shutterstock

Global

BIBL

DIVO

DJIA

DYLG

UAW Criticizes Biden Administration For Not Pursuing Labor Abuse Complaint Against Caterpillar

Contracts

Management

GATX

Unifor Members At GATX Rail Ratify New Agreement; Says Members Of Unifor Local 21-A At GATX Rail Canada In Red Deer, Alberta, Have Ratified New 4-Year Collective Agreement

Guidance

Deutsche Bank CEO Says To Boost Asia Revenue To 'Well North Of 15%'; Co Is Ready To Expand Investments In Asia After Successfully Restructuring Itself And Stabilizing Its Earnings; Also Increasing Investments In Vietnam And Other Smaller Economies In The Region

Shares of The Charles Schwab Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) fell sharply during Tuesday's session following <a href="https://www.benzinga.com/quote/SCHW/earnings">second-quarter results.</a>
Charles Schwab said adjusted net income declined 2% Y/Y to $1.465 billion. Adjusted EPS fell 3% Y/Y to 73 cents, beating the consensus of 72 cents, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Charles Schwab shares dipped 7.5% to $69.42 on Tuesday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Yoshitsu Co., Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TKLF#NASDAQ">TKLF</a>) jumped 109% to $0.6437 after the company reported a year-over-year increase in FY24 financial results.</li>
<li>Silo Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SILO#NASDAQ">SILO</a>) shares climbed 95.4% to $2.12 after the company obtained an exclusive global license to develop, manufacture, and commercialize its Alzheimer&#8217;s drug.</li>
<li>Logistic Properties of the Americas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPA#NYSE">LPA</a>) shares climbed 53.8% to $23.71.</li>
<li>NaaS Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAAS#NASDAQ">NAAS</a>) gained 38% to $3.8503.</li>
<li>Virpax Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRPX#NASDAQ">VRPX</a>) gained 38% to $1.4799.</li>
<li>AEON Biopharma, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEON#NYSE">AEON</a>) shares rose 29.2% to $2.9450 after jumping around 63% on Monday.</li>
<li>Conduit Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDT#NASDAQ">CDT</a>) gained 27.3% to $0.3055 after declining over 8% on Monday.</li>
<li>AngioDynamics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANGO#NASDAQ">ANGO</a>) surged 24.7% to $7.39 after the company reported better-than-expected fourth-quarter financial results and issued FY25 guidance.</li>
<li>KWESST Micro Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KWE#NASDAQ">KWE</a>) gained 22.8% to $0.4160</li>
<li>Zenvia Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZENV#NASDAQ">ZENV</a>) climbed 22.7% to $1.9634. The company announced that it entered into an agreement with Alliance Global Partners to offer and sell Class A common shares up to $20 million.</li>
<li>Locafy Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCFY#NASDAQ">LCFY</a>) rose 21% to $4.4150.</li>
<li>SciSparc Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPRC#NASDAQ">SPRC</a>) gained 20% to $1.0150.</li>
<li>Koss Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KOSS#NASDAQ">KOSS</a>) rose 19.8% to $10.45.</li>
<li>Alpha Technology Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATGL#NASDAQ">ATGL</a>) climbed 19.2% to $3.42.</li>
<li>Meiwu Technology Company Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WNW#NASDAQ">WNW</a>) shares rose 16.1% to $1.01 after surging around 15% on Monday.</li>
<li>NetSol Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTWK#NASDAQ">NTWK</a>) climbed 16% to $3.0501 as the company signed a $16 million agreement with a major automaker to revolutionize digital car buying and leasing experience in the United States.</li>
<li>Chegg, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHGG#NYSE">CHGG</a>) gained 15% to $3.6440. Morgan Stanley analyst Josh Baer upgraded Chegg from Underweight to Equal-Weight and lowered the price target from $6.5 to $3.25.</li>
<li>8&#215;8, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EGHT#NASDAQ">EGHT</a>) gained 13.3% to $2.8450. 8&#215;8. secured a $200 million term loan at reduced interest rate.</li>
<li>Fate Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FATE#NASDAQ">FATE</a>) gained 12.8% to $4.39.</li>
<li>Pacific Biosciences of California, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PACB#NASDAQ">PACB</a>) rose 12.8% to $1.8350. PacBio is expected to hold its quarterly conference call to discuss its second quarter financial results on Wednesday, Aug. 7.</li>
<li>Newegg Commerce, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEGG#NASDAQ">NEGG</a>) gained 11.8% to $1.14.</li>
<li>Harmony Gold Mining Company Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMY#NYSE">HMY</a>) jumped 11.8% to $10.57</li>
<li>Sana Biotechnology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SANA#NASDAQ">SANA</a>) surged 11.7% to $7.11.</li>
<li>ServisFirst Bancshares, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFBS#NASDAQ">SFBS</a>) climbed 10.8% to $78.60 after the company reported better-than-expected second-quarter financial result. Also, Piper Sandler maintained a Neutral rating on the stock and raised its price target from $63 to $70.</li>
<li>Match Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>) rose 7.9% to $34.54 after Starboard Value sent a letter to the company outlining initiatives for improving growth, profitability and capital allocation.</li>
<li>Arvinas, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARVN#NASDAQ">ARVN</a>) gained 7.7% to $32.27.</li>
<li>Shopify Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) shares rose 7.3% to $68.92 after B of A Securities upgraded the stock from Neutral to Buy.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Cyngn Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYN#NASDAQ">CYN</a>) shares fell 22.1% to $7.15 after jumping 54% on Monday.</li>
<li>Autonomix Medical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMIX#NASDAQ">AMIX</a>) shares declined 21.4% to $1.08. Autonomix shares jumped 130% on Monday after the company entered into an agreement with RF Innovations to license intellectual property for its Apex 6 Radiofrequency Generator.</li>
<li>Zeo Energy Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZEO#NASDAQ">ZEO</a>) fell 18% to $3.23.</li>
<li>Clearmind Medicine Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMND#NASDAQ">CMND</a>) fell 16.7% to $1.85. Clearmind Medicine announced the FDA clearance for IND application of MEAI-based CMND-100 oral capsule.</li>
<li>Crown LNG Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGBS#NASDAQ">CGBS</a>) declined 15.8% to $2.65.</li>
<li>Funko, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FNKO#NASDAQ">FNKO</a>) shares fell 13.3% to $8.71.</li>
<li>Shapeways Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHPW#NASDAQ">SHPW</a>) fell 13.2% to $0.3010.</li>
<li>Vicinity Motor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VEV#NASDAQ">VEV</a>) shares dipped 12.8% to $0.5581 after dipping 10% on Monday.</li>
<li>Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) shares fell 8.7% to $37.04. Trump Media &amp; Technology Group shares jumped over 31% on Monday following the attempted assassination of Donald Trump.</li>
<li>Greenpro Capital Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRNQ#NASDAQ">GRNQ</a>) shares fell 8.5% to $1.08. Greenpro Capital shares surged around 35% on Monday after the company announced that its subsidiary, Green-X, secured over $100 million in digital assets.</li>
<li>Grom Social Enterprises, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GROM#NASDAQ">GROM</a>) shares declined 7.8% to $0.3945 after gaining around 10% on Monday.</li>
<li>Reddit, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) fell 7.1% to $67.83 after Loop Capital downgraded the stock from Buy to Hold.</li>
<li>Eos Energy Enterprises, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EOSE#NASDAQ">EOSE</a>) fell 7% to $1.9150.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39792248/jim-cramer-says-if-you-sell-this-chinese-ev-stock-now-some-clown-will-be-real-posit">Jim Cramer Says If You Sell This Chinese EV Stock Now, &#8216;Some Clown&#8217; Will Be &#8216;Real Positive About It,&#8217; Wait Until &#8216;All That Stuff Happens</a><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39792248/jim-cramer-says-if-you-sell-this-chinese-ev-stock-now-some-clown-will-be-real-posit">&#8216;</a></li>
</ul>

Intraday Update

AEON

AMIX

ANGO

ARVN

ATGL

CGBS

CHGG

CMND

EGHT

EOSE

FATE

FNKO

GRNQ

GROM

KOSS

LCFY

NAAS

NEGG

RDDT

SANA

SFBS

SHOP

SHPW

SILO

SPRC

TKLF

VRPX

ZENV

Why Charles Schwab Shares Are Trading Lower By Over 7%? Here Are Other Stocks Moving In Tuesday's Mid-Day Session

Shiba Inu&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) rally comes off the back of significant growth in key Shibarium metrics, with further bullish momentum anticipated in <a href="https://www.benzinga.com/money/shiba-inu-price-prediction">the upcoming months</a>.
What Happened: Crypto trader Javon Marks, in his recent X <a href="https://x.com/JavonTM1/status/1813201645867515917">post</a>, forecasted Shiba Inu&#8217;s price could reach unprecedented highs. He pointed out that the meme coin has shown significant progress since his original analysis, noting a roughly +400% move from $0.000009079 to $0.00004559.
He believes there is further growth to come if the current breakout holds and estimates a potential +351% move from the current value towards the breakout target of $0.0000886, its all-time high. Validating the strength of the meme coin is a recent hidden bullish divergence between prices and the relative strength index (RSI).
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39791586/dogecoin-shiba-inu-pepe-will-still-have-supercycle-but-2021-may-never-happen-again-muses-t">Dogecoin, Shiba Inu, Pepe Will Still Have Supercycle But &#8216;2021 May Never Happen Again,&#8217; Muses Trader</a>
Why It Matters: Benzinga's technical stock analysis shows Shiba Inu's RSI at 57, a bullish momentum signal. The 50-day simple moving average (SMA) and the 200-day SMA are very close to convergin, which could lead to a golden cross or death cross. Currently, the 50-day SMA is above the 200-day SMA, increasing the probability of a bullish price action in the near term.
Shibariumscan data shows active accounts up from 489 on July 14 to 602 to July 15. New accounts increased fourfold from 6 to 27 in the same period. New transactions increased from 3,185 to 4,319 and new verified contracts for the period rose from 10 to 26.
IntoTheBlock data shows large transaction volume surging by 95.6% and transactions greater than $100,000 increased from 57 on July 14 to 82 on July 15. 73% of SHIB is in the hands of large holders, while 78% of SHIB holders accumulated the coin for more than one year.
What&#8217;s Next: The influence of meme coins is expected to be thoroughly explored at Benzinga&#8217;s upcoming <a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a> event on Nov. 19.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39750803/dogecoin-killer-shiba-inu-developers-outline-future-plans-in-first-ever-interview">&#8216;Dogecoin Killer&#8217; Shiba Inu Developers Outline Future Plans In First-Ever Interview</a></li>
</ul>
Image: Shutterstock

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

Cryptocurrency

$SHIB

Is 'Dogecoin Killer' Shiba Inu Approaching A 'Golden Cross'? Here's What Technical Analysis Says

Sunrun Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>) has recently caught investor attention with a technical chart formation known as the Golden Cross, signaling a <a href="https://www.benzinga.com/topic/golden-cross">robust bullish trend</a>. 
This key technical pattern, combined with positive analyst projections, indicates promising upside potential for Sunrun&#8217;s stock. Here&#8217;s some analysis of what to expect moving forward.
<figure class="wp-block-image size-full"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="630" height="450" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16104144/Screenshot-2024-07-16-at-6.55.57-PM.png" alt="" class="wp-image-438757" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16104144/Screenshot-2024-07-16-at-6.55.57-PM.png 630w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16104144/Screenshot-2024-07-16-at-6.55.57-PM-300x214.png 300w" sizes="(max-width: 630px) 100vw, 630px" /></a></figure>
<a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071624&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
<h2 class="wp-block-heading">Sunrun Stock&#8217;s Bullish Golden Cross</h2>
Sunrun&#8217;s stock is down both YTD and over the past year. However, technicals indicate the tide may now be turning to favor Sunrun.
The company&#8217;s stock recently crossed above its 50-day moving average (SMA), driven by bullish momentum. Moving average indicators on Sunrun&#8217;s price chart have also formed a Golden Cross—an important bullish signal where a shorter-term moving average crosses above a longer-term moving average.
Specifically, the 50-day SMA (currently at $13.03, yellow line in chart above) crossed over the 200-day SMA (at $12.91, blue line in chart above) forming a classic Golden Cross pattern. The formation typically signaling the beginning of a bullish trend. 
<h2 class="wp-block-heading">Buying Pressure Driving Strong Bullish Momentum</h2>
Other key technical indicators also suggest that the stock is currently experiencing a bullish technical outlook. 
The stock price of $15.66 is trading above its key moving averages, including the 5-day, 20-day, and 50-day exponential moving averages (EMAs), indicating strong buying pressure and positive momentum. 
<figure class="wp-block-image size-full"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="630" height="450" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16105152/Screenshot-2024-07-16-at-8.21.18-PM.png" alt="" class="wp-image-438786" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16105152/Screenshot-2024-07-16-at-8.21.18-PM.png 630w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16105152/Screenshot-2024-07-16-at-8.21.18-PM-300x214.png 300w" sizes="(max-width: 630px) 100vw, 630px" /></a></figure>
<a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071624&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
The 8-day, 20-day, and 50-day simple moving averages (SMAs) are all lower than the current stock price, reinforcing the bullish trend. 
<figure class="wp-block-image size-full"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="630" height="450" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16105203/Screenshot-2024-07-16-at-8.21.30-PM.png" alt="" class="wp-image-438789" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16105203/Screenshot-2024-07-16-at-8.21.30-PM.png 630w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16105203/Screenshot-2024-07-16-at-8.21.30-PM-300x214.png 300w" sizes="(max-width: 630px) 100vw, 630px" /></a></figure>
<a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071624&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
The Moving Average Convergence Divergence (MACD) indicator at 0.70 supports this view, suggesting continued upward momentum. However, the Relative Strength Index (RSI) at 61.13 indicates that the stock may be approaching overbought conditions. 
The Bollinger Bands also align with a bullish perspective, showing that the stock is trading above its lower bands.
Sunrun&#8217;s share price consistently trading above its 5, 20, and 50-day exponential moving averages indicates strong bullish momentum. The MACD reading of 0.70 suggests that buying pressure is present, further reinforcing the positive trend.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/07/39785609/jim-cramer-says-these-stocks-could-soar-or-sink-if-trump-wins-2024-election">Jim Cramer Says These Stocks Could Soar Or Sink If Trump Wins 2024 Election</a>
<h2 class="wp-block-heading">Analysts&#8217; Rate SunRun Stock A Strong Buy With Substantial Upside</h2>
Analysts are equally optimistic about Sunrun&#8217;s prospects. The consensus rating for Sunrun is a strong Buy, with a price target average of $27.30. 
Recent ratings from Susquehanna, Morgan Stanley, and Jefferies, dated July 15, June 14, and May 9, respectively, point to an average price target of $26.33.
This implies a potential upside of approximately 55% from Tuesday&#8217;s share price of $16.90.
The combination of a Golden Cross pattern, bullish technical indicators, and a favorable analyst consensus suggests that Sunrun stock is poised for significant upside. 
Despite a challenging year with a 22.3% decline over the past year and a 13% drop YTD, the recent technical signals and positive analyst outlook provide a compelling case for a bullish outlook on Sunrun's stock.
Investors should keep an eye on further developments as the stock continues to show promising signs of recovery and growth.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39776035/solar-stocks-tumble-following-failed-assassination-of-trump-whats-going-on">Solar Stocks Tumble Following Failed Assassination Of Trump: What&#8217;s Going On?</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Technicals

Sunrun Stock: Golden Cross Sparks Bullish Sentiment, Potential Upside

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Comments

Columbia International Equity Income ETF

News

Latest news for Columbia International Equity Income ETF (ARCA:INEQ)