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TD Securities analyst Aaron Macneil initiates coverage on South Bow (TSX:<a class="ticker" href="https://www.benzinga.com/stock/SOBO#TSX">SOBO</a>) with a Hold rating and announces Price Target of C$34.

News

Price Target

Initiation

Analyst Ratings

TSX:SOBO

TD Securities Initiates Coverage On South Bow with Hold Rating, Announces Price Target of C$34

On Tuesday, January 14th, U.S. markets closed mixed, with the S&amp;P 500 edging higher and the Nasdaq slipping after a volatile session. Investors evaluated inflation data and prepared for quarterly earnings reports. The producer price index rose less than expected, while elevated Treasury yields and uncertainty surrounding Federal Reserve policy fueled caution. Earnings season kicks off Wednesday, led by major banks.
According to economic data, U.S. producer prices increased by 0.2% in December, down from 0.4% in November, and below market expectations of a 0.3% rise.
Most S&amp;P 500 sectors rose, led by utilities, materials, and financials, while communication services and healthcare declined.
The Dow Jones Industrial Average was up 0.52% and closed at 42,518.28, the S&amp;P 500 closed higher by 0.11% at 5,842.91, while the Nasdaq Composite slid 0.23% to finish at 19,044.39.
Big banks are supposed to kick off the fourth-quarter earnings season today.
Aisa Markets Today
<ul>
<li>On Wednesday, Japan&#8217;s Nikkei 225 closed higher by 0.09% at 38,471.50, led by gains in the Transportation Equipment, Chemical, Petroleum &amp; Plastic and Insurance sectors.</li>
<li>Australia&#8217;s S&amp;P/ASX 200 fell 0.22%, ending the session at 8,213.30, led by losses in the IT, Telecoms Services, and Industrials sectors.</li>
<li>India&#8217;s Nifty 50 closed higher by 0.23% at 23,228.55, and the Nifty 500 gained 0.36%, closing at 21,558.75, led by gains in the Power, Real Estate, and Technology sectors.</li>
<li>China&#8217;s Shanghai Composite fell 0.43% and closed at 3,227.12, and the Shenzhen CSI 300 slid 0.64%, finishing the day at 3,796.03.</li>
<li>Hong Kong Hang Seng closed the session higher by 0.34% at 19,286.07.</li>
</ul>
Eurozone at 06:00 AM ET
<ul>
<li>The European STOXX 50 was up 0.36%.</li>
<li>Germany&#8217;s DAX gained 0.67%.</li>
<li>France&#8217;s CAC rose 0.36%.</li>
<li>U.K.&#8217;s FTSE index 100 traded higher by 0.74%.</li>
</ul>
Commodities at 06:00 AM ET
<ul>
<li>Crude Oil WTI was trading higher by 0.21% at $76.57/bbl, and Brent was up 0.15% at $80.04/bbl.</li>
<li>Natural Gas gained 0.78% to $3.999.</li>
<li>Gold was trading higher by 1.05% at $2,710.76, Silver was up 1.32% to $30.750, and Copper rose 0.10% to $4.3470.</li>
</ul>
U.S. Futures at 06:00 AM ET
Dow futures were up 0.19%, S&amp;P 500 futures rose 0.16% and Nasdaq 100 futures gained 0.21%.
Forex at 06:00 AM ET
<ul>
<li>The U.S. Dollar Index fell 0.11% to 109.06, USD/JPY declined 0.72% to 156.80, and USD/AUD slid 0.14% to 1.6119.</li>
<li>Global stocks rose cautiously ahead of U.S. inflation data and bank earnings, while bond yields dipped. December&#8217;s tame producer price data eased pressure on Treasuries.</li>
</ul>
Photo by Pavel Bobrovskiy via Shutterstock

Asia

Emerging Markets

Eurozone

Futures

Commodities

Forex

Markets

ADIV

AGOV

ASHR

BBEU

BOIL

CQQQ

PowerShares DBmmodity Index Optimum Yield Diversified Fund

EEMA

FLAX

CurrencyShares British Pound Sterling Trust

IEMG

IEUR

KraneShares Trust KraneShares S&P Pan Asia Dividend Aristocrats Index ETF

KDIV

SPEM

USDU

PowerShares DB US Dollar Index Bullish Fund

Dollar Cools Off Ahead Of Bank Earnings, Asia Markets Mixed, Europe Up - Global Markets Today While US Slept

Needham analyst Chris Pierce reiterates Blink Charging (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLNK#NASDAQ">BLNK</a>) from Buy to Buy.

Reiteration

BLNK

Needham Reiterates Buy on Blink Chargingto Buy

The Company expects to meet its net revenue, adjusted EBITDA, and adjusted diluted EPS guidance, exceed its operating cash flow guidance, and exceed (incur less than) its capital expenditures guidance. The Company also intends to announce that it estimates its net leverage as of December 31, 2024 to be approximately 4x.

Guidance

AMRX

Amneal Pharmaceuticals Expects To Meet Its 2024 Net Revenue, Adjusted EBITDA, And Adjusted EPS Guidance, Exceed Its Operating Cash Flow Guidance - Filing

Needham analyst James Ricchiuti reiterates Advanced Energy Indus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEIS#NASDAQ">AEIS</a>) with a Buy and maintains $145 price target.

AEIS

Needham Reiterates Buy on Advanced Energy Indus, Maintains $145 Price Target

JP Morgan analyst Michael Rehaut maintains KB Home (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBH#NYSE">KBH</a>) with a Neutral and lowers the price target from $82 to $74.5.

JP Morgan Maintains Neutral on KB Home, Lowers Price Target to $74.5

Needham analyst James Ricchiuti reiterates 3D Sys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DDD#NYSE">DDD</a>) from Hold to Hold.

Needham Reiterates Hold on 3D Systo Hold

Compass Point analyst Floris Van Dijkum initiates coverage on Curbline Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CURB#NYSE">CURB</a>) with a Neutral rating and announces Price Target of $24.

CURB

Compass Point Initiates Coverage On Curbline Properties with Neutral Rating, Announces Price Target of $24

Needham analyst James Ricchiuti reiterates MKS Instruments (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MKSI#NASDAQ">MKSI</a>) with a Buy and maintains $156 price target.

MKSI

Needham Reiterates Buy on MKS Instruments, Maintains $156 Price Target

Needham analyst John Todaro reiterates Applied Digital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLD#NASDAQ">APLD</a>) with a Buy and maintains $11 price target.

APLD

Needham Reiterates Buy on Applied Digital, Maintains $11 Price Target

CIBC analyst Hamir Patel upgrades Weyerhaeuser (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WY#NYSE">WY</a>) from Neutral to Outperformer and announces $35 price target.

Upgrades

CIBC Upgrades Weyerhaeuser to Outperformer, Announces $35 Price Target

For the twelve months ended December 31, 2024, Unity Bancorp reported net income of $41.5 million, or $4.06 per diluted share, compared to net income of $39.7 million, or $3.84 per diluted share, for the twelve months ended December 31, 2023. This represents a 4.4% increase net income and a 5.7% increase in net income per diluted share.

Unity Bancorp Reports Q4 EPS Of $1.13 Compared With $1.07 YoY, Which Represents 1.83% ROA And 15.77% ROE

GXO Logistics, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GXO#NYSE">GXO</a>) teamed up with The Perfume Shop, one of the <a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/g42995528/the-perfume-shop-partners-with-gxo-for-high-street-deliveries" rel="noreferrer noopener">largest fragrance retailers in the U.K</a>.
The deal entails GXO providing weekly deliveries to over 200 stores via its shared transport network.
Notably, GXO&#8217;s shared transport network consolidates deliveries for multiple retailers, significantly reducing vehicle trips to crowded city centers.
Each vehicle typically carries goods from five different customers and stops at 8 to 10 locations, improving efficiency compared to dedicated delivery services.
Shared transport can cut CO2 emissions by up to 5kg per litre when compared to underutilized dedicated vehicles.
Additionally, this model helps reduce urban congestion, aligning with city policies aimed at lowering emissions and promoting sustainable transportation.
Last week, the company inked a long-term partnership <a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/g42894129/gxo-signs-a-new-partnership-with-calliope-in-italy" rel="noreferrer noopener">with </a><a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/g42894129/gxo-signs-a-new-partnership-with-calliope-in-italy" rel="noreferrer noopener">Calliope</a><a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/g42894129/gxo-signs-a-new-partnership-with-calliope-in-italy" rel="noreferrer noopener"> in Italy</a>.
The contract comprises providing warehouse management, e-fulfillment, returns handling, and value-added services like labeling and quality control.
Investors can gain exposure to the stock via Tidal ETF Trust Aztlan North America Nearshoring Stock Selection ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRSH#NYSE">NRSH</a>) and Invesco S&amp;P Spin-Off ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CSD#NYSE">CSD</a>).
Price Action: GXO shares closed higher by 1.59% at $43.55 on Tuesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com//node/42994950" target="_blank" rel="noreferrer noopener">Nippon Steel Eyes Trump Administration To Revive $15B US Steel Deal Blocked By Biden: &#8216;We&#8217;ll Do Whatever It Takes&#8217;</a></li>
</ul>
Image via Shutterstock.

Equities

Mid Cap

Contracts

NRSH

GXO Logistics Partners with The Perfume Shop For Sustainable Deliveries Across 200 UK Stores: Details

Telsey Advisory Group analyst Cristina Fernandez maintains On Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONON#NYSE">ONON</a>) with a Outperform and maintains $67 price target.

ONON

Telsey Advisory Group Maintains Outperform on On Holding, Maintains $67 Price Target

U.S. stock futures advanced on Wednesday following Tuesday&#8217;s mixed close. Futures of all four major indices rose in premarket trade.
Traders await the December Consumer Price Index will provide fresh insights into inflation&#8217;s trajectory, potentially influencing the Federal Reserve's policy stance amid mounting uncertainty over interest rates.
The headline inflation rate is <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42988894/all-eyes-on-december-inflation-betting-odds-signal-risk-of-fed-struggling-to-tame">projected </a>to rise 2.9% year-over-year, according to TradingEconomics, marking an increase from November&#8217;s 2.7% pace. On a monthly basis, headline inflation is expected to grow by 0.3%, maintaining the same pace as the prior month. 
Amid rotation, technology stocks dragged the Nasdaq down on Tuesday as well, whereas Dow Jones, which has the least number of tech constituents, rose over 220 points.
The 10-year and two-year Treasury notes yielded 4.77% and 4.35%, respectively. The probability of having no change in the interest rates for the upcoming Jan. 31, 2025 decision was at 97.3%, according <a href="http://The 10-year and two-year Treasury notes yielded 4.77% and 4.35%, respectively. The probability of having no change in the interest rates for the upcoming Jan. 31, 2025 decision was at 97.3%, according to CME Group's FedWatch tool. --https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">to</a> CME Group&#8217;s FedWatch tool.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>0.22%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.14%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.18%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.51%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Wednesday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was up 0.18% to $583.22&nbsp; and the Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.23% to $506.25, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From The Last Session
U.S. stock market closed with a mixed performance on Tuesday. The Dow Jones Industrial Average saw a significant intraday surge following the release of Producer Price Index data.
PPI increased by 0.2% in December, lower than the expected 0.3% and November&#8217;s 0.4% increase. This positive economic indicator boosted investor sentiment.
However, Big Tech stocks weighed heavily on the Nasdaq. Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) experienced notable declines, contributing to the index&#8217;s negative performance.
Sectoral performance was varied across the S&amp;P 500. Utilities, materials, and financial sectors closed higher, while communication services and healthcare sectors underperformed.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.23%</td>
<td>19,044.39</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.11%</td>
<td>5,842.91</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.52%</td>
<td>42,518.28</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1.13%</td>
<td>2,219.24</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts
Howard Marks, a veteran investor who accurately predicted the dot-com bubble, warns of <a href="https://www.benzinga.com/markets/equities/25/01/42995814/billionaire-investor-who-predicted-the-dot-com-crash-25-years-ago-warns-of-another-market-storm-brewing-in-the-us">potential market risks</a> in his latest memo, &#8220;On Bubble Watch.&#8221; 
Marks highlights several concerning signs:
<ul>
<li>Over-optimism: High market exuberance and elevated S&amp;P 500 valuations.</li>
<li>AI Hype: Excessive enthusiasm for AI may be inflating valuations in the tech sector.</li>
<li>Magnificent 7 Reliance: Over-reliance on the continued success of a small group of dominant tech companies.</li>
<li>Index Investing Bias: Index fund inflows may be driving up prices regardless of intrinsic value.</li>
</ul>
While not definitively declaring a bubble, the co-founder and co-chairman of Oaktree Capital Management, Marks stresses the importance of acknowledging these risks. He acknowledges counterarguments, such as reasonable valuations for the &#8220;Magnificent Seven&#8221; and a moderate P/E ratio for the S&amp;P 500.
Ultimately, Marks concludes that the market may be expensive and slightly overheated, but it doesn&#8217;t yet display the irrational exuberance typical of a true bubble.
&#8220;The markets are likely to remain listless until Monday&#8217;s Inauguration Day, when President Donald Trump is expected to issue numerous Executive Orders which might muddy rather than clarify the economic outlook,&#8221; said Ed Yardeni of Yardeni Research in his QuickTakes.
Carson Research in their 2025 markets outlook, released on Tuesday said that they expect U.S. growth likely to outpace other global economies this year. They expect a 12-15% return from stocks.
&#8220;Looking at forward 12-month S&amp;P 500 earnings we once again see new highs, now at $271 per share, up from $225 in early 2023,&#8221; the report said.
&#8220;We are overweight equities and believe current forward earnings growth expectations remain supportive of stock gains given the economic backdrop.&#8221;
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures </a>
Upcoming Economic Data
<ul>
<li>On Wednesday, the headline and core consumer price index for December and the Empire State manufacturing survey data for January will be announced at 8:30 a.m., ET.</li>
<li>Richmond Fed President Barkin will speak at 9:00 a.m., ET.</li>
<li>New York Fed President Williams will speak at 11:00 a.m., ET.</li>
<li>Chicago Fed President Goolsbee will speak at noon, ET.</li>
<li>On Thursday, initial jobless claims till Jan. 11 will be released at 8:30 a.m., ET.</li>
<li>December&#8217;s U.S. retail sales, import price index, and Philadelphia Fed manufacturing survey will be announced at 8:30 a.m., ET.</li>
<li>Business inventory data for November and the Home builder confidence index for January will be released at 10:00 a.m., ET.</li>
<li>On Friday, housing starts and building permits data for December will be released at 8:30 a.m., ET.</li>
<li>The industrial production and capacity utilization for December will be announced at 9:15 a.m., ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>JPMorgan Chase &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) was up 0.21% in premarket on Wednesday as Wall Street expects it to report quarterly earnings of $4.04 per share on revenue of $41.56 billion before the opening bell.</li>
<li>Wells Fargo &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) was up 2.39% ahead of its earnings before the opening bell. Analysts expect it to report quarterly earnings of $1.35 per share on revenue of $20.58 billion.</li>
<li>Goldman Sachs Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) was up 0.26% as analysts expect it to post quarterly earnings of $8.35 per share on revenue of $12.46 billion before the opening bell.</li>
<li>Citigroup Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>) was up 0.39% ahead of its earnings before the opening bell. Analysts expect it to post quarterly earnings of $1.24 per share on revenue of $19.51 billion. The company will release earnings before the markets open.</li>
<li>Applied Digital Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLD#NASDAQ">APLD</a>) was down 6.21% despite beating the second-quarter revenue and EPS estimates on Tuesday.</li>
<li>Safe &amp; Green Holdings Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGBX#NASDAQ">SGBX</a>) was up 122.22% as it decided to acquire 100% of New Asia Holdings, including its subsidiaries Olenox Corp and Machfu.com.</li>
<li>Vision Marine Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VMAR#NASDAQ">VMAR</a>) was up 46.43% after it filed its patent application with the United States Patent and Trademark Office for a Battery Authentication Encryption Technology.</li>
</ul>
Commodities, Gold And Global Equity Markets:
Crude oil futures were trading higher in the early New York session by 0.62% to hover around $76.84 per barrel.
The gold spot index was up by 1.04% to $2,710.19 per ounce. The Dollar Index was down 0.20% at 109.050 level.
Asian markets closed mixed on Wednesday as Hong Kong&#8217;s Hang Seng, and India&#8217;s S&amp;P BSE Sensex index advanced. Whereas, China&#8217;s CSI 300, Australia&#8217;s ASX 200, Japan&#8217;s Nikkei 225, and South Korea&#8217;s Kospi index fell. European markets were also trading higher.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/01/42967576/meta-investors-push-mark-zuckerberg-to-replace-72b-cash-with-bitcoin-to-combat-inflation-heres-what-it-means-for-investors">Meta Investors Push Mark Zuckerberg To Replace $72B Cash With Bitcoin To Combat Inflation: Here&#8217;s What It Means For Investors</a></li>
</ul>
Photo courtesy: Wikimedia

Analyst Color

Economics

Federal Reserve

Pre-Market Outlook

Trading Ideas

NVDA

SGBX

VMAR

US Stocks To Open Higher Ahead Of December Inflation Data: All Eyes On Banking Stocks As JPMorgan, Goldman, Citi, Wells Fargo Report Quarterly Earnings

PONY

Pony AI Says It Has Become First Company In China To Receive Approval For Robotruck Platooning Tests On Cross-provincial Highways Connecting Beijing, Tianjin, And Hebei Province, Marking A Milestone In Pursuit Of Large-scale Commercialization Of Autonomous Trucking

Asset Sales

Emeren Group Reports Sale Of 65 MWp Solar Project Portfolio To Trina Solar International System Business Unit; No Terms Disclosed

Telsey Advisory Group analyst Dana Telsey maintains ThredUp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TDUP#NASDAQ">TDUP</a>) with a Outperform and raises the price target from $2 to $3.

TDUP

Telsey Advisory Group Maintains Outperform on ThredUp, Raises Price Target to $3

After the results from this research agreement are known, the parties will negotiate in good faith (and without obligation) whether to jointly develop or commercialise the outcomes of these research collaborations on commercially reasonable terms.
 &nbsp;

IMRN

Immuron Enters New Research Collaboration With Monash University

Marti Launches Safety Academy To Prioritize Rider Safety And Promote Sustainable Mobility

Ishares Fallen Angels High Yield Corp Bd UCITS ETF USD (Acc)

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