Latest news for Rainbow Rare Earths (OTC:RBWRF) Stock

Rainbow Rare Earths Ltd aims to be a forerunner in the establishment of an independent and ethical supply chain of the rare earth elements that are driving the green energy transition. It is doing this successfully via the identification and development of secondary rare earth deposits that can be brought into production quicker and at a lower cost than traditional hard rock mining projects, with a focus on the magnet rare earth elements neodymium & praseodymium, dysprosium & terbium. It is focused on the development of the Phalaborwa Project and the earlier stage Uberaba Project. Both projects entail the recovery of rare earths from phosphogypsum stacks that occur as the by-product of phosphoric acid production, with the original source rock for both deposits being a hardrock carbonatite.

RAINBOW RARE EARTHS LTD by RAINBOW RARE EARTHS LTD.

Rainbow Rare Earths Ltd

Needham analyst Quinn Bolton maintains Monolithic Power Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MPWR#NASDAQ">MPWR</a>) with a Buy and lowers the price target from $950 to $600.

News

Price Target

Analyst Ratings

MPWR

Needham Maintains Buy on Monolithic Power Systems, Lowers Price Target to $600

Macro Economic Events

Econ #s

Economics

U.K. Services Purchasing Managers Index Preliminary For November 50.0 Vs. 52.3 Est.; 52.0 Prior

U.K. Manufacturing Purchasing Managers Index Preliminary For November 48.6 Vs. 50.1 Est.; 49.9 Prior

U.K. Composite Purchasing Managers' Index Preliminary For November 49.9 Vs. 51.8 Prior

Eurozone Services Purchasing Managers Index Preliminary For November 49.2 Vs. 51.6 Est.; 51.6 Prior

HCOB Eurozone Composite Purchasing Managers Index Preliminary For November 48.1 Vs. 50.0 Prior

Eurozone Manufacturing Purchasing Managers Index Preliminary For November 45.2 Vs. 46.0 Est.; 46.0 Prior

HC Wainwright &amp; Co. analyst Yi Chen reiterates Alpha Tau Medical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRTS#NASDAQ">DRTS</a>) with a Buy and maintains $9 price target.

Reiteration

DRTS

HC Wainwright & Co. Reiterates Buy on Alpha Tau Medical, Maintains $9 Price Target

RBC Capital analyst Deane Dray upgrades Flowserve (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLS#NYSE">FLS</a>) from Sector Perform to Outperform and announces $69 price target.

Upgrades

RBC Capital Upgrades Flowserve to Outperform, Announces $69 Price Target

EHang Holdings Limited ("EHang" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EH#NASDAQ">EH</a>), the world's leading Urban Air Mobility ("UAM") technology platform company, today announced that the Company's Board of Directors has approved a Share Repurchase Program, pursuant to which the Company may repurchase up to&nbsp;US$30&nbsp;million of its American Depositary Shares ("ADSs") or ordinary shares over the next 12 months.

Buybacks

EHang Holdings' Board Approved A Share Buyback Program Of Up To $30M ADSs Over Next 12 Months

HC Wainwright &amp; Co. analyst Joseph Pantginis reiterates Xenetic Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XBIO#NASDAQ">XBIO</a>) with a Neutral.

XBIO

HC Wainwright & Co. Reiterates Neutral on Xenetic Biosciences

HC Wainwright &amp; Co. analyst Oren Livnat reiterates Jazz Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JAZZ#NASDAQ">JAZZ</a>) with a Buy and maintains $200 price target.

JAZZ

HC Wainwright & Co. Reiterates Buy on Jazz Pharmaceuticals, Maintains $200 Price Target

Piper Sandler analyst Arvind Ramnani maintains Intuit (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NASDAQ">INTU</a>) with a Overweight and lowers the price target from $768 to $765.

INTU

Piper Sandler Maintains Overweight on Intuit, Lowers Price Target to $765

PepsiCo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) today announced its agreement to acquire the remaining 50% interest in Sabra Dipping Company, LLC (Sabra) and PepsiCo-Strauss Fresh Dips &amp; Spreads International GmbH (Obela) and become the sole owner of these companies, which make Sabra and Obela products.
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Sabra and Obela are currently 50/50 joint ventures that had been formed between PepsiCo and Strauss Group to manufacture, distribute, and sell refrigerated dips and spreads. The Sabra joint venture is based in New York and operates in the U.S. and Canada. The Obela joint venture is based in Geneva and operates in Australia, New Zealand and Mexico.
PepsiCo has focused on the fresh dips category for over 15 years, forming Sabra and Obela as 50/50 joint ventures with the Strauss Group in 2008 and 2012, respectively. Sabra has become a leading hummus brand with nearly $400MM in retail sales in the U.S. This transaction will enable PepsiCo to continue to transform its portfolio and drive accelerated innovation to develop more products that meet the growing demand for positive choices from North American consumers.

PepsiCo Secures Full Ownership of Sabra and Obela with 50% Buyout

Piper Sandler analyst Brent Bracelin maintains Procore Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCOR#NYSE">PCOR</a>) with a Overweight and raises the price target from $70 to $90.

PCOR

Piper Sandler Maintains Overweight on Procore Technologies, Raises Price Target to $90

Shares of Reddit Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) nosedived by 6.2% to $148.11 per share in premarket, despite closing 16% higher at $158.02 apiece on Thursday. Technical analysis points towards a bullish trend, with the stock trading at overbought levels.
What Happened: Reddit&#8217;s shareholder, Advance Magazine Publishers Inc. plans to sell as much as $1.2 billion of the company&#8217;s stake, <a href="https://www.bloomberg.com/news/articles/2024-11-21/advance-magazine-said-to-seek-1-2-billion-in-reddit-share-sale">reported</a> Bloomberg on Friday morning. The company is said to be offering 7.8 million shares in between the range of $145.38-$148.54 each.
Advance Magazine Publishers is an arm of the Newhouse family publishing empire that owns Conde Nast. The company seeks to establish a credit facility using Reddit&#8217;s stake, while buying derivatives on Reddit&#8217;s shares, which allow it to indirectly maintain an ownership stake, reported Bloomberg.
Apart from this, Reddit faced an outage <a href="https://www.benzinga.com/24/11/42118134/reddit-resolves-another-outage-after-morning-disruptions-impact-72000-users">on Wednesday and Thursday</a> this week. This outage stems from an HTTP error, as per TechCrunch. The platform was able to resolve the issue later.
Also read: <a href="https://www.benzinga.com/24/11/42118134/reddit-resolves-another-outage-after-morning-disruptions-impact-72000-users">Reddit Suffers Second Disruption In Two Days</a>
Why It Matters: Technical analysis points towards strong support for the RDDT stock.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="276" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22033719/Reddit-Technical-final-1024x276.png" alt="" class="wp-image-660516" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22033719/Reddit-Technical-final-1024x276.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22033719/Reddit-Technical-final-300x81.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22033719/Reddit-Technical-final-768x207.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22033719/Reddit-Technical-final-1536x414.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22033719/Reddit-Technical-final.png 1737w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Thursday&#8217;s closing price of $158.02 sits above its eight, 20, and 50-day simple moving averages, signaling a bullish trend. However, the stock's distance from its 100-day moving average of $75.59 suggests potential selling opportunities with the relative strength index of 79.18 indicating overbought conditions.
While RDDT stock could face volatility, if the stake sale report holds true its recent upgrade from Piper Sandler citing strong user growth metrics, makes it attractive in the longer term.
According to <a href="https://www.benzinga.com/quote/RDDT/analyst-ratings">Benzinga pro data</a>, Reddit has a consensus price target of $92.84 based on the ratings of 19 analysts. The high is $150 per share issued by Piper Sandler on Nov. 19 and the low is $54 apiece issued by New Street Research on March 26, 2024.
The average price target of $118.33 between Piper Sandler, Bernstein, and Citigroup implies a 19.28% downside for Reddit.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="374" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22033546/reddit-analyst-ratings-1024x374.png" alt="" class="wp-image-660511" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22033546/reddit-analyst-ratings-1024x374.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22033546/reddit-analyst-ratings-300x110.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22033546/reddit-analyst-ratings-768x280.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22033546/reddit-analyst-ratings.png 1071w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read next: <a href="https://www.benzinga.com/24/11/42131911/donald-trump-appointed-doge-to-have-marginal-impact-saving-50-100-billion-says-analyst-as-elon-musk-aims-to-target-500-billion-plus-in-federal-expenditures">Donald Trump&#8217;s DOGE Initiative To Have &#8216;Marginal Impact&#8217; Says Analyst As Elon Musk Aims To Target Over $500B In Federal Expenditures</a>
Image via Shutterstock

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RDDT

Reddit Tumbles 7% In Premarket Amid Advance's Stake Sale Announcement: Technicals Show Strong Support, But Selling Pressure Persists At Overbought Levels

Piper Sandler analyst Arvind Ramnani assumes PayPal Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) with a Neutral rating and announces Price Target of $88.

Initiation

PYPL

Piper Sandler Assumes PayPal Holdings at Neutral, Announces Price Target of $88

Outlook
For the fourth quarter of 2024, Sunlands currently expects net revenues to be between RMB450 million to RMB470 million, which would represent a decrease of 13.2% to 16.9% year-over-year.

Guidance

Sunlands Technology Expects Q4 Net Revenue Of RMB450M-RMB470M, Down By 13.2%-16.9% YoY

Earnings

Sunlands Technology Q3 EPS $1.86 Up From $1.31 YoY, Sales $70.00M Down From $71.91M YoY

South Korean automaker Hyundai Motor Co&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HYMTF#OTC">HYMTF</a>) incoming CEO Jose Munoz is optimistic about the future of electric vehicles despite fears of EV tariffs and incentives getting dropped or reduced under the upcoming Donald Trump presidency.
What Happened: Hyundai decided to make a big investment in America during the previous Trump administration before the introduction of the Inflation Reduction Act (IRA) which provides incentives for the manufacturing of electric vehicles in the U.S., Munoz said in an <a href="https://www.youtube.com/watch?v=1E3zF6S2JaQ">interview </a>with CNBC. 
&#8220;The fact that Elon Musk is so close to Trump is probably good for electric vehicles, not bad. We are not planning our business based on incentives. We want to produce really great vehicles with great features,&#8221; he said. Munoz&#8217;s appointment as co-CEO of Hyundai will be <a href="https://www.benzinga.com/tech/24/11/42004380/hyundai-gears-up-for-trumps-return-to-white-house-elevates-us-chief-jose-munoz-to-co-ceo-appoints-former-us-diplomat-to-manage-external-affairs">effective from January. </a>
Why It Matters: In November 2023, Hyundai announced that it would <a href="https://www.benzinga.com/news/23/11/35768916/hyundai-announces-25-wage-hike-for-alabama-and-georgia-production-team-amid-labour-unrest">invest $12.6 billion in EV and battery manufacturing facilities in Georgia</a>, making it its largest investment outside South Korea. The first electric vehicle rolled off the assembly line in Georgia in October. 
Earlier this week, the company unveiled its Ioniq 9 three-row SUV which will roll out in the U.S. early next year. The Ioniq 9 will be up against other 3-row SUVs from rival automakers including Lucid Motors and General Motors and will be manufactured in Georgia. 
Hyundai now aims to have a lineup of 23 EV models by 2030.
Meanwhile, Wedbush analyst Dan Ives said Trump&#8217;s plan to get rid of consumer tax credits for EVs is actually not positive for Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>). Eliminating the EV tax credit could pose a major challenge to the United States&#8217; EV transition. However, Musk, a prominent supporter of Trump, has <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41988194/trump-plans-to-erase-ev-tax-credit-analyst-says-its-net-bullish-calls-sell-off-wrong-knee-jerk-reaction">reportedly expressed his support </a>to Trump's team for ending the EV tax credit.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/24/11/42058338/byd-makes-a-million-nevs-in-less-than-2-months" target="_blank" rel="noreferrer noopener">BYD Makes A Million NEVs In Less Than 2 Months After Beating Tesla For The First Time Since 2022 In Quarterly Revenue</a></li>
</ul>
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