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Amid rising tensions over trade policies, Mexico faces a dilemma regarding a potential investment from Chinese electric vehicle manufacturer&nbsp;BYD (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>). This comes as President-elect&nbsp;Donald Trump&nbsp;<a href="https://www.benzinga.com/24/11/42178994/trump-says-he-will-impose-25-tariffs-on-canada-mexico-on-first-day-of-office-and-extra-tariffs-on-china-until-they-pay-attention">plans&nbsp;to impose a 25%</a> tariff&nbsp;on Mexican goods, raising concerns about the implications of hosting a Chinese EV factory.
What Happened: BYD is in the final stages of planning a new factory in Mexico. The company is negotiating with Mexican state officials to establish the&nbsp;factory near one of the&nbsp;country&#8217;s&nbsp;automotive hubs in central or&nbsp;northern Mexico. However, Trump&#8217;s tariff threats have complicated these plans. 
Mexico, a significant car manufacturing hub, typically welcomes foreign investment for job creation. Yet, officials are wary that a BYD plant might signal to Trump that Mexico is facilitating Chinese companies&#8217; access to the U.S. market, Wall Street Journal <a href="https://www.wsj.com/business/autos/mexico-gets-cold-feet-over-new-chinese-ev-plant-after-trump-win-3b92f1c3">reported</a> on Tuesday.
"At this time, investments from China have to be analyzed with extreme caution," said Eduardo Solís, the former president of the Mexican Association of the Automotive Industry.
"Mexico has to present itself with a business card that says: reliable partner of North America."
See Also:&nbsp;<a href="https://www.benzinga.com/trading-ideas/movers/24/11/42119433/sharkninja-a-china-hustle-based-on-rampant-looting-short-report?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">SharkNinja A &#8216;China Hustle Based On Rampant Looting&#8217;: Short Report</a>
Trump&#8217;s tariff threat is part of broader issues, including immigration and fentanyl smuggling. Mexico is working to assure the U.S. and Canada that it is not a conduit for Chinese goods as talks on the U.S.-Mexico-Canada Agreement are set to begin next year. Eduardo Solís, a former leader of Mexico's automotive industry association, emphasized the need for caution with Chinese investments, stating Mexico must present itself as a reliable North American partner.
Why It Matters: BYD&nbsp;had previously <a href="https://www.benzinga.com/markets/equities/24/09/40693961/chinas-ev-giant-byd-reportedly-delays-mexico-move-eyes-us-election-results-before-big-investment">delayed its investment</a> in Mexico, awaiting the outcome of the U.S. election. The company aims to sell 100,000 electric vehicles in Mexico by 2025, despite potential tariff challenges.&nbsp;BYD&nbsp;plans to reveal the location of its first Mexican factory by <a href="https://www.benzinga.com/news/24/10/41246093/byd-targets-100k-ev-sales-in-mexico-by-2025-as-trump-vows-200-tariffs-on-chinese-made-cars-in-north">the end of the year</a>, with an initial production capacity of 150,000 vehicles.
Trump&#8217;s proposed tariffs are part of a broader strategy to address border issues and drug smuggling, with additional tariffs on Chinese imports until these issues are resolved. 
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/tech/24/11/42111283/elon-musks-starlink-faces-new-competition-as-chinese-satellite-firm-spacesail-enters-brazilian-market?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s Starlink Faces New Competition As Chinese Satellite Firm Spacesail Enters Brazilian Market</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.
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News

Global

General

BYDDF

BYDDY

Amid Trump's Plans To Impose 25% Tariffs, Mexico Fears BYD New Factory In Country Would Send Wrong Message: 'Investments From China Have To Be Analyzed With Extreme Caution'

Guidance

Best Buy CEO Says Seeing Increasing Stabilization In Electronics Industry, But Not As Linear As Expected At The Start Of The Year; Co. Sees Q4 Comparable Sales To Be In The Range Of Down 3% To Flat

RBC Capital analyst James McGarragle upgrades Russel Metals (TSX:<a class="ticker" href="https://www.benzinga.com/stock/RUS#TSX">RUS</a>) from Sector Perform to Outperform and raises the price target from C$45 to C$51.

Upgrades

Price Target

Analyst Ratings

TSX:RUS

RBC Capital Upgrades Russel Metals to Outperform, Raises Price Target to C$51

Kohl&#8217;s Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KSS#NYSE">KSS</a>) shares are trading lower after the company <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/b42185424/kohls-reports-third-quarter-fiscal-2024-financial-results" rel="noreferrer noopener">reported&nbsp;third-quarter earnings</a>.
The company reported a net sales decline of 8.8% year-over-year (Y/Y) to $3.507 billion, missing the consensus of $3.638 billion. Comparable sales for the quarter decreased 9.3%. Total revenue stood at $3.710 billion.
Gross margin for the quarter expanded by 20&nbsp;basis points to&nbsp;39.1%. Operating income for the quarter was&nbsp;$98&nbsp;million versus&nbsp;$157&nbsp;million last year. The operating margin contracted 120 basis points Y/Y to&nbsp;2.7%.
Selling, general and administrative expenses decreased&nbsp;5.1%&nbsp;Y/Y to&nbsp;$1.3&nbsp;billion, and SG&amp;A expenses margin stood at 34.8%, an increase&nbsp;of 125 basis points Y/Y.
EPS was&nbsp;20 cents<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">, missing the analyst consensus estimate of&nbsp;28 cents.</a>
Inventory at the end of the quarter was&nbsp;$4.1&nbsp;billion, down&nbsp;3%&nbsp;Y/Y. Kohl&#8217;s held&nbsp;$174 million in cash and equivalents as of November 2. Operating cash flow&nbsp;was a use of&nbsp;$195 million.
On November 13, 2024, Kohl&#8217;s Board of Directors declared a quarterly cash dividend of 50 cents per share, payable on December 24, to <a href="https://www.benzinga.com/pressreleases/24/11/b41954674/kohls-declares-quarterly-dividend" target="_blank" rel="noreferrer noopener">shareholders of record as of December 11</a>.
Yesterday, Kohl&#8217;s disclosed that CEO Tom Kingsbury <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/b42175779/kohls-announces-ceo-transition-process" rel="noreferrer noopener">will step down on January 15, 2025</a>.
He will remain in an advisory role to the new CEO and stay on the Board of Directors until his retirement in May 2025, after which the Board size will be reduced by one. The Board has appointed Ashley Buchanan as CEO, effective January 15, 2025.
Outlook: Kohl&#8217;s revised the&nbsp;outlook&nbsp;for FY24 EPS to&nbsp;$1.20 &#8211; $1.50 (from&nbsp;$1.75&nbsp;–&nbsp;$2.25)&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">versus the Street view of&nbsp;$1.80</a>.
Kohl&#8217;s revised FY24 sales growth outlook to a decline of (7)% &#8211; (8)% <a href="https://app.grammarly.com/ddocs/2667160099" target="_blank" rel="noreferrer noopener">from (4%) – (6%).</a> The company now sees FY24 comparable sales decline of (6%) to (7%) vs. (3%) to (5%) prior.
Kohl&#8217;s now projects an FY24 operating margin of&nbsp;3.0% to 3.2%&nbsp;(previous&nbsp;3.4%&nbsp;–&nbsp;3.8%) and continues to see capital expenditures of about&nbsp;$500 million, including expansion of its Sephora partnership and other store-related investments.
Tom Kingsbury, Kohl&#8217;s chief executive officer, said, &#8220;Our third quarter results did not meet our expectations as sales remained soft in our apparel and footwear businesses. Although we had a strong collective performance across our key growth areas, including Sephora, home decor, gifting, and impulse, and also benefited from the opening of Babies &#8220;R&#8221; Us shops in 200 of our stores, these were unable to offset the declines in our core business.&#8221;
&#8220;We are not satisfied with our performance in 2024 and are taking aggressive action to reverse the sales declines. We must execute at a higher level and ensure we are putting the customer first in everything we do.&#8221;
&#8220;We are approaching our financial outlook for the year more conservatively given the third quarter underperformance and our expectation for a highly competitive holiday season.&#8221;
Investors can gain exposure to the stock via&nbsp;WBI Power Factor High Dividend ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WBIY#NYSE">WBIY</a>) and&nbsp;Invesco S&amp;P SmallCap Value with Momentum ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XSVM#NYSE">XSVM</a>).
Price Action: KSS shares are down 175% at $15.23 premarket at the last check Tuesday.
Read Next:
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<li><a href="https://www.benzinga.com//node/42186167" target="_blank" rel="noreferrer noopener">Michael Saylor&#8217;s MicroStrategy Convertible Notes To Buy Bitcoin Offer No Interest, So Why Are Investors Rushing To Buy Them?</a></li>
</ul>
Photo: Sundry Photos via Shutterstock.

Earnings

Equities

Large Cap

Dividends

Management

Movers

WBIY

XSVM

Kohl's Q3 Misses The Mark: Weak Sales And CEO Shake-Up Send Shares Down

On CNBC's &#8220;Mad Money Lightning Round,&#8221; Jim Cramer recommended buying Symbotic (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYM#NYSE">SYM</a>). He added, &#8220;This is a very hot sector. The good news here, this company <a href="https://www.benzinga.com/quote/SYM/earnings">does make money.&#8221;</a>
On Nov. 18, Symbotic reported quarterly earnings of five cents per share, which beat the analyst consensus estimate of three cents. Quarterly revenue came in at $576.76 million, which beat the analyst consensus estimate of $470.27 million and is an increase over sales of $391.88 million from the same period last year.
When asked about Tetra Tech, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTEK#NASDAQ">TTEK</a>), he said, &#8220;I didn't think the quarter was that bad. I actually am inclined to buy, not sell TTEK.&#8221;
On Nov. 13, Tetra Tech reported worse-than-expected fourth-quarter EPS results.
Linde plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LIN#NASDAQ">LIN</a>) is a &#8220;terrific&#8221; company, Cramer said. &#8220;It is not a speculative stock, it is a very good company.&#8221;
On Oct. 31, Linde reported third-quarter financial results and issued FY24 adjusted EPS guidance below estimates.
&#8220;This stock has been pretty much straight up, and, you know what, it's not done,&#8221; Cramer said when asked about Brookfield Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BN#NYSE">BN</a>). Shares are up over 75% in the past year.
On Nov. 14, Brookfeld reported better-than-expected third-quarter adjusted EPS results
Price Action:
<ul>
<li>Symbotic shares fell 3.4% to settle at $37.47 on Monday.</li>
<li>Tetra Tech shares gained 0.6% to close at $41.22.</li>
<li>Linde shares gained 0.2% to close at $455.69.</li>
<li>Brookfield shares rose 2.5% to settle at $59.70 during the session.</li>
</ul>
Read Next: 
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<li><a href="https://www.benzinga.com/24/11/42181602/dow-sp-500-reach-fresh-highs-investor-sentiment-improves-fear-greed-index-remains-in-greed-zone">Dow, S&amp;P 500 Reach Fresh Highs: Investor Sentiment Improves, Fear Index Remains In &#8216;Greed&#8217; Zone</a></li>
</ul>
Photo: Shutterstock

Long Ideas

Markets

Media

Trading Ideas

TTEK

Jim Cramer: Linde Is A 'Terrific' Company, Sees Another Stock Up 75% As 'Not Done'

Truist Securities analyst Michael Roxland initiates coverage on Sonoco Prods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SON#NYSE">SON</a>) with a Buy rating and announces Price Target of $63.

Initiation

Truist Securities Initiates Coverage On Sonoco Prods with Buy Rating, Announces Price Target of $63

Barclays analyst Nicholas Campanella maintains American Electric Power (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEP#NASDAQ">AEP</a>) with a Equal-Weight and lowers the price target from $100 to $99.

Barclays Maintains Equal-Weight on American Electric Power, Lowers Price Target to $99

Stifel analyst Parker Lane maintains Zoom Video Comms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>) with a Hold and raises the price target from $70 to $90.

Stifel Maintains Hold on Zoom Video Comms, Raises Price Target to $90

WIIM

Agora shares are trading lower after the company reported a year-over-year decrease in Q3 financial results.

ATRO

Astronics shares are trading lower. The company announced a 150 million 2030 convertible senior notes offering.

Barclays analyst Eddie Kim maintains Innovex International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INVX#NYSE">INVX</a>) with a Underweight and lowers the price target from $21 to $15.

INVX

Barclays Maintains Underweight on Innovex International, Lowers Price Target to $15

Stifel analyst Simon Yarmak maintains Wyndham Hotels &amp; Resorts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WH#NYSE">WH</a>) with a Buy and raises the price target from $92 to $107.

Stifel Maintains Buy on Wyndham Hotels & Resorts, Raises Price Target to $107

EMBC

Embecta shares are trading higher after the company reported better-than-expected Q4 financial results and issued FY25 adjusted EPS guidance above estimates.

Stifel analyst Simon Yarmak maintains Travel+Leisure (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNL#NYSE">TNL</a>) with a Buy and raises the price target from $59 to $66.

Stifel Maintains Buy on Travel+Leisure, Raises Price Target to $66

Macro Economic Events

Econ #s

Economics

Reported Earlier: US Building Permits (Oct) 1.419M vs 1.416M Est. (Prior 1.425M)

HSAI

Hesai Group shares are trading higher after the company reported better-than-expected Q3 sales results.

Stifel analyst Tore Svanberg maintains Semtech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMTC#NASDAQ">SMTC</a>) with a Buy and raises the price target from $58 to $65.

SMTC

Stifel Maintains Buy on Semtech, Raises Price Target to $65

Wells Fargo analyst Michael Turrin maintains Zoom Video Comms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>) with a Underweight and raises the price target from $60 to $70.

Wells Fargo Maintains Underweight on Zoom Video Comms, Raises Price Target to $70

As of Nov. 26, 2024, three stocks in the industrials sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Woodward, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>)</h3>
<ul>
<li>On Nov. 25, Woodward reported better-than-expected quarterly EPS and sales. &#8220;We delivered record sales in fiscal 2024 with Woodward revenue exceeding $3 billion for the first time. Robust end market demand along with contributions from operational excellence fueled significant sales growth and earnings expansion,&#8221; said Chip Blankenship, Chairman and Chief Executive Officer. The company's stock gained around 5% over the past five days and has a <a href="https://www.benzinga.com/quote/WWD">52-week high of $188.34</a>.</li>
<li>RSI Value: 81.90&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>WWD Price Action: Shares of Woodward gained 1.8% to close at $179.29 on Monday.</li>
</ul>
<h3 class="wp-block-heading">Aris Water Solutions Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARIS#NYSE">ARIS</a>)</h3>
<ul>
<li>On Nov. 4, Aris Water Solutions reported better-than-expected third-quarter financial results. &#8220;Aris had an exceptional third quarter as we continued to grow our produced water volumes, increased our recycled water sales, and maintained our strong margins. As we anticipated, our capital investment to support these increased activity levels was primarily deployed in the first half of the year and our capital spending in the third quarter declined significantly. We continue to experience steady volume growth and increasing cash generation,&#8221; said Amanda Brock, President and CEO of Aris. The company's stock gained around 79% over the past month and <a href="https://www.benzinga.com/quote/ARIS">has a 52-week high</a> of $27.64.</li>
<li>RSI Value: 80.45</li>
<li>ARIS Price Action: Shares of Aris Water Solutions gained 0.2% to close at $27.03 on Monday.</li>
</ul>
<h3 class="wp-block-heading">Mesa Air Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MESA#NASDAQ">MESA</a>)</h3>
<ul>
<li>On Oct. 16, Mesa Air Group reported a year-over-year decrease in third-quarter revenue results. The company's stock gained around 14% over the past five days and has a <a href="https://www.benzinga.com/quote/MESA">52-week high</a> of $1.89.</li>
<li>RSI Value: 74.27</li>
<li>MESA Price Action: Shares of Mesa Air gained 12.3% to close at $0.98 on Monday.</li>
</ul>
Read This Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/11/42174548/jim-cramer-says-this-stock-is-a-bitcoin-play-and-he-prefers-to-own-bitcoin">Jim Cramer Says This Stock Is A Bitcoin Play And He Prefers To Own Bitcoin</a></li>
</ul>

Pre-Market Outlook

ARIS

MESA

Top 3 Industrials Stocks You May Want To Dump This Quarter

RDWR

Radware shares are trading higher after the company announced a relationship expansion with a top 10 India airport to deliver cloud applications and network security.

Actuate Therapeutics opened on Aug. 13 at $9.88. The biopharmaceutical company had priced its initial public offering of 2.8 million shares at a price of $8.00 per share.

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Monday, October 07, 2024

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