Latest news for Titan Medical (OTC:TMDIF) Stock

Titan Medical Inc is in the research and development stage and is focused on the continued design and development of robotic-assisted surgical technologies for application in minimally invasive surgery including the development of the Enos robotic single-access surgical system.

TITAN MEDICAL INC ORD by Titan Medical Inc.

Titan Medical Inc

U.S. stocks traded mostly higher toward the end of trading, with the Dow Jones index surging more than 650 points on Tuesday.
The Dow traded up 1.63% to 40,865.59 while the NASDAQ fell 0.11% to 18,452.31. The S&amp;P 500 also rose, gaining, 0.37% to 5,652.28.
Check This Out: <a href="https://www.benzinga.com/news/24/07/39789748/wall-streets-most-accurate-analysts-weigh-in-on-3-industrials-stocks-delivering-high-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Weigh In On 3 Industrials Stocks Delivering High-Dividend Yields</a>
Leading and Lagging Sectors Industrials shares jumped by 2.3% on Tuesday.
In trading on Tuesday, information technology shares fell by 0.8%.
Top Headline
Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) reported better-than-expected second-quarter results.
Morgan Stanley reported second-quarter EPS of $1.82, up from $1.24 a year ago and beating the consensus of $1.65. The U.S. bank reported second-quarter sales of $15.02 billion, up 11.6% year over year, beating the consensus of $14.30 billion.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Silo Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SILO#NASDAQ">SILO</a>) shares shot up 93% to $2.07 after the company obtained an exclusive global license to develop, manufacture, and commercialize its Alzheimer&#8217;s drug.</li>
<li>Shares of Yoshitsu Co., Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TKLF#NASDAQ">TKLF</a>) got a boost, surging 92% to $0.5884 after the company reported a year-over-year increase in FY24 financial results.</li>
<li>AngioDynamics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANGO#NASDAQ">ANGO</a>) shares were also up, gaining 25% to $7.40 after the company reported better-than-expected fourth-quarter financial results and issued FY25 guidance.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Reddit, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) shares dropped 8% to $67.39 after Loop Capital downgraded the stock from Buy to Hold.</li>
<li>Shares of The Charles Schwab Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) were down 9% to $68.55 following second-quarter results.</li>
<li>Clearmind Medicine Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMND#NASDAQ">CMND</a>) was down, falling 17% to $1.84. Clearmind Medicine announced the FDA clearance for IND application of MEAI-based CMND-100 oral capsule.</li>
</ul>
Also Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39789793/tecogen-and-3-other-stocks-under-5-insiders-are-buying">Tecogen And 3 Other Stocks Under $5 Insiders Are Buying</a>
Commodities In commodity news, oil traded down 1.3% to $80.82 while gold traded up 1.5% at $2,464.30.
Silver traded up 1.6% to $31.44 on Tuesday, while copper fell 1.7% to $4.4505.
Euro zone
European shares closed lower today. The eurozone's STOXX 600 fell 0.28%, Germany's DAX fell 0.39% and France's CAC 40 fell 0.69%. Spain's IBEX 35 Index fell 0.47%, while London's FTSE 100 fell 0.22%.
The ZEW Indicator of Economic Sentiment for the Eurozone fell by 7.6 points to a reading of 43.7 in July, while Eurozone posted a trade surplus of EUR 13.9 billion in May versus a year-ago gap of EUR 0.4 billion.
The ZEW Indicator of Economic Sentiment for Germany fell to 41.8 in July, recording the first decline in a year. Italy reported a trade surplus of EUR 6.43 billion in May versus a year-ago surplus of EUR 4.767 billion year.
Asia Pacific Markets
Asian markets closed mixed on Tuesday, with Japan's Nikkei 225 gaining 0.20%, Hong Kong's Hang Seng Index falling 1.60%, China's Shanghai Composite Index gaining 0.08% and India's S&amp;P BSE Sensex gaining 0.06%.
Economics
<ul>
<li>U.S. retail sales came in flat month-over-month for June compared to a revised 0.3% gain in the previous period.</li>
<li>Import prices came in unchanged from the prior month in June, while export prices in the U.S. declined 0.5% month-over-month in June.</li>
<li>The NAHB/Wells Fargo Housing Market Index fell by one point to a reading of 42 in July, versus market estimates of 44.</li>
<li>U.S. total business inventories increased by 0.5% month-over-month in May compared to a 0.3% gain in the earlier month.</li>
</ul>
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<li><a href="https://www.benzinga.com/news/24/07/39769294/top-5-financials-stocks-that-may-collapse-this-month">Top 5 Financials Stocks That May Collapse This Month</a></li>
</ul>

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Commodities

Intraday Update

Markets

Trading Ideas

ANGO

CMND

RDDT

SCHW

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TKLF

Nasdaq Edges Lower; Morgan Stanley Earnings Top Views

ConocoPhillips (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cop#NYSE">COP</a>), a U.S.-based exploration and production player, has received a second request from the U.S. Federal Trade Commission (&quot;FTC&quot;) for further information on its proposed merger&nbsp;with Marathon Oil Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mro#NYSE">MRO</a>). ConocoPhillips had announced the acquisition in May 2024 in an all-stock transaction worth $22.5 billion. Per COP&#39;s statement, both companies received the FTC request and are jointly working with the regulatory body to review the details of the proposed merger.
Marathon shareholders would receive 0.255 shares of ConocoPhillips, for each share of Marathon Oil common stock. The merger is anticipated to create a combined entity with a production capacity of 2.26 million barrels of oil and gas per day. Furthermore, it is expected to add proved reserves of up to 1.32 billion barrels to ConocoPhillips&#39; existing proved reserves of 6.8 billion barrels.
COP had previously stated that the deal is anticipated to close in the fourth quarter of 2024. However, the request for additional information regarding the deal may delay its closure. The cost savings and benefits that COP expects from the acquisition will not be fully realized until the transaction is closed.
The current trends indicate that the energy sector is undergoing rapid consolidation to achieve operational efficiencies and cost-saving benefits. The announcement of ConocoPhillips&#39; deal with Marathon Oil followed the $60 billion acquisition of Pioneer Natural Resources by ExxonMobil Corporation and the proposed $53-billion merger of Hess Corporation with energy giant, Chevron.
<h3>Zacks Rank and Key Picks</h3>
Currently, COP carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the energy&nbsp;sector are&nbsp;SM Energy (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sm#NYSE">SM</a>) and Chevron Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cvx#NYSE">CVX</a>). SM Energy presently sports a Zacks Rank #1 (Strong Buy), while Chevron carries a Zacks Rank #2 (Buy).
SM Energy is an upstream energy firm operating in the prolific Midland Basin and the South Texas regions. For 2024, the company expects its production to increase from the prior-year reported figure, signaling a bright production outlook.
Chevron is one of the largest publicly traded oil and gas companies in the world, with its operations spread around the globe. It is currently in the process of acquiring Hess Corporation. The acquisition is seen as a major win for Chevron, as it will give the company access to Hess&#39; high-quality assets in Guyana and the Bakken Formation.
<a href="https://www.zacks.com/stock/news/2302616/conocophillips-cop-receives-second-ftc-request-on-merger-deal?cid=CS-BENZ-FT-analyst_blog|company_news_energy_sector-2302616">To read this article on Zacks.com click here.</a>

Legal

Analyst Ratings

ConocoPhillips Receives Second FTC Request on Merger Deal

WIIM

CVCO

LGIH

PRPL

TMHC

Shares of household durable stocks are trading higher after store sales of building material and garden supplies rose 1.4% in June. Also, strength may be due to trader optimism that the Fed will cut rates.

Scotiabank analyst Ovais Habib maintains Torex Gold Resources (TSX:<a class="ticker" href="https://www.benzinga.com/stock/TXG#TSX">TXG</a>) with a Sector Perform and raises the price target from C$25 to C$26.

Price Target

TSX:TXG

Scotiabank Maintains Sector Perform on Torex Gold Resources, Raises Price Target to C$26

BURL

SNBR

ULTA

Shares of retail and consumer discretionary stocks are trading higher following a rise in June retail sales, indicating continued consumer spending.

Vistra's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>) short percent of float has fallen 24.77% since its last report. The company recently reported that it has 9.90 million shares sold short, which is 3.31% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.04 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Vistra Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721154620_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Vistra has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Vistra's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Vistra's peer group average for short interest as a percentage of float is 2.39%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

How Is The Market Feeling About Vistra?

Upstart Hldgs's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPST#NYSE">UPST</a>) short percent of float has fallen 3.26% since its last report. The company recently reported that it has 25.16 million shares sold short, which is 32.95% of all regular shares that are available for trading. Based on its trading volume, it would take traders 6.64 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Upstart Hldgs Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721154615_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Upstart Hldgs has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Upstart Hldgs's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Upstart Hldgs's peer group average for short interest as a percentage of float is 5.95%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

UPST

How Is The Market Feeling About Upstart Hldgs?

Coupang's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPNG#NYSE">CPNG</a>) short percent of float has risen 12.07% since its last report. The company recently reported that it has 25.76 million shares sold short, which is 2.6% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.79 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Coupang Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721154610_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Coupang has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Coupang's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Coupang's peer group average for short interest as a percentage of float is 11.58%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

CPNG

How Is The Market Feeling About Coupang?

Goldman Sachs analyst Richard Ramsden anticipates a neutral investor response to PNC Financial Services Group, Inc.&#8216;s&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>) stronger <a target="_blank" href="https://www.benzinga.com//node/39791655" rel="noreferrer noopener">results and updated FY24 guidance</a>.
Today, the bank reported a revenue increase of&nbsp;2%&nbsp;Y/Y to&nbsp;$5.411 billion, slightly missing the consensus of&nbsp;$5.412 billion, while adjusted EPS of&nbsp;$3.30&nbsp;topped&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">the consensus of&nbsp;$2.98</a>.
For FY24, PNC&nbsp;expects net interest income (NII) to decline&nbsp;4%, revenue to be down&nbsp;1%-2% (vs. consensus of roughly unchanged Y/Y), and&nbsp;average loan down less than&nbsp;1% (vs. <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">Street estimate of flat Y/Y)</a>.
The analyst says that the third quarter 2024 guidance for NII, fee income, and expenses also suggests a slightly lower pre-provision net revenue (PPNR) compared to consensus.
Overall, the updated FY2024 guidance (at the midpoint) suggests a 2% lower PPNR than the Street, writes the analyst.
Given the revised rate expectations (potentially 2-3 rate cuts this year), the analyst anticipates management&#8217;s comments on the assumptions driving the guidance, NII trajectory in H2 2024 and 2025, expense trends, potential for operating leverage, credit outlook, and the likelihood of ongoing reserve releases in the near term.
In particular, the analyst anticipate investor inquiries regarding the trajectory towards losses in both consumer and corporate segments, and whether there has been any recent deterioration in credit trends.
Notably, net charge-offs (NCOs) for commercial real estate (CRE) rose to 1.28%, an increase of approximately 65 basis points Q/Q, prompting management to raise the office CRE reserve ratio from 9.7% to 10.3%.
Ramsden rated PNC as Neutral <a target="_blank" href="https://www.benzinga.com/quote/PNC/analyst-ratings" rel="noreferrer noopener">with a price target of $165</a>.
Investors can gain exposure to the stock via&nbsp;IShares U.S. Regional Banks ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAT#NYSE">IAT</a>) and&nbsp;Invesco Exchange-Traded Fund Trust II Invesco S&amp;P Ultra Dividend Revenue ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDIV#NYSE">RDIV</a>).
Price Action: PNC shares are up 4.66% at $176.89 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.
Photo via Wikimedia Commons

Analyst Color

Equities

Large Cap

Reiteration

iShares Dow Jones US Regional Banks Index Fund

RDIV

Goldman Sachs Maintains Neutral on PNC Despite Strong Results, Cites Modest FY24 Outlook

Scotiabank analyst Ovais Habib maintains SilverCrest Metals (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/SILV#AMEX">SILV</a>) with a Sector Perform and raises the price target from $8 to $8.5.

SILV

Scotiabank Maintains Sector Perform on SilverCrest Metals, Raises Price Target to $8.5

Scotiabank analyst Ovais Habib maintains Pan American Silver (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAAS#NYSE">PAAS</a>) with a Sector Outperform and raises the price target from $23 to $26.

PAAS

Scotiabank Maintains Sector Outperform on Pan American Silver, Raises Price Target to $26

ABCB

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TBBK

Shares of banking stocks are trading higher amid sympathy with Bank of America after the company reported better-than-expected Q2 financial results.

Scotiabank analyst Ovais Habib maintains Alamos Gold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGI#NYSE">AGI</a>) with a Sector Outperform and raises the price target from $16 to $20.

Scotiabank Maintains Sector Outperform on Alamos Gold, Raises Price Target to $20

When stocks are moving higher, the markets are full of remorseful sellers. These investors and traders regret selling their stocks after the price <a href="https://www.benzinga.com/markets">eventually moves higher</a>.
This psychology can be seen in charts. It is a common dynamic in the financial markets. That's why our team of expert traders and technical analysts have picked Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) to be our <a href="https://www.benzinga.com/topic/stock-of-the-day">Stock of the Day</a>.
As you can see on the following chart, the $94.00 level was resistance for Morgan Stanley in January, March, and April. In May, the resistance broke and the shares moved higher.
But then the shares reversed and made it back down to $94.00 in June. At this point, the level that had previously been resistance converted into a support level. Then the price moved higher.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16135015/1-13-1024x576.png" alt="Morgan Stanley (MS) - New uptrend or false breakout?" class="wp-image-439209" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16135015/1-13-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16135015/1-13-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16135015/1-13-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/16135015/1-13.png 1047w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Levels that were resistance can convert into support because of seller's remorse. Many of the investors and traders who sold <a href="https://www.benzinga.com/quote/MS/analyst-ratings">Morgan Stanley</a> when it was at $94.00 came to regret their decision to do so.
A number of them decided to buy their shares back at the price they were for sold at.
So, when the shares got back down to $94.00 many of these remorseful sellers placed buy orders. And the large concentration of these orders created support at the level that had previously been resistance.
Now traders will be focusing on the $102.00 level. It was resistance in May. <a href="https://www.benzinga.com/news/earnings/24/07/39793333/morgan-stanley-q2-earnings-higher-profits-as-investment-banking-activity-rebounds-on-track-to-reach">Now the shares are trading above it.</a>
If the stock eventually reverses and gets back down to $102.00, it may become a support level. And if it does it should set the stage for a new move higher.
Stocks don't go up in straight lines. An uptrend is like a staircase of trading ranges. And what was the top of one range (resistance) becomes the bottom of the next range (support).
But if there isn't support around $102.00, traders will say the stock has made a ‘false breakout'. This is important because false breakouts tend to proceed big moves lower.
Now Read: 
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<li><a href="https://www.benzinga.com/news/earnings/24/07/39800691/dow-rallies-to-all-time-highs-small-caps-outperform-tech-gold-hits-records-on-heightened-september-">Dow Rallies To All-Time Highs, Small Caps Outperform Tech, Gold Hits Records On Heightened September Rate Cut Bets: What&#8217;s Driving Markets Tuesday?</a></li>
</ul>
Image: Shutterstock

Technicals

Movers

Stock Of The Day: Morgan Stanley — False Breakout Or New Uptrend?

European Union governments have expressed differing opinions on the imposition of EU tariffs on imports of electric vehicles (EVs) manufactured in China, as indicated in a <a target="_blank" href="https://www.benzinga.com/electric-vehicles" rel="noreferrer noopener">non-binding but influential vote.</a>
The European Commission, responsible for the EU&#8217;s trade policy, has imposed provisional tariffs of up to 37.6% on electric vehicles imported from China and has sought input from EU member states in a consultative vote.
Twelve EU members endorsed the tariffs, four opposed them, and eleven abstained from voting, Reuters reported, citing people familiar with the discussions.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/07/39787139/chinese-ev-thrive-despite-tariff-hikes-foreign-rivals-struggle" rel="noreferrer noopener">Chinese EV Thrive Despite Tariff Hikes, Foreign Rivals Struggle</a>
The Commission is likely to consider these votes when determining whether to proceed with definitive duties in what is the EU&#8217;s most prominent trade case to date.
France, Italy, and Spain supported the tariffs, whereas Germany, Finland, and Sweden abstained.
A German source told Reuters that their abstention was in the spirit of &#8220;critical solidarity&#8221; with the Commission.
An official from the Finnish embassy expressed doubts about the measure aligning with EU interests, noting not all European car manufacturers supported it.
Swedish trade minister Johan Forssell emphasized the importance of dialogue between the Commission and China to resolve the issue.
Beijing has warned of extensive retaliatory measures.
The Commission plans to extend its investigation for three months before deciding on proposing definitive duties, typically lasting five years, Reuters added.
Any proposed tariffs would require a binding vote among EU members, and could be blocked if 15 member countries representing 65% of the EU population vote against.
As a gesture of compromise, the European Commission has indicated potential consideration for a reduced tariff on BMW&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>) China-made electric Mini and Volkswagen AG&#8217;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VLKAF#OTC">VLKAF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>) Cupra Tavascan.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Shuttershock
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Media

General

BMWYY

VLKAF

VWAGY

EU Nations Divided Over Tariffs On Chinese EVs; Commission Considers Compromise For BMW And Volkswagen Models: Report

Barrington Research analyst Alexander Paris maintains Perdoceo Education (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRDO#NASDAQ">PRDO</a>) with a Outperform and raises the price target from $25 to $27.

PRDO

Barrington Research Maintains Outperform on Perdoceo Education, Raises Price Target to $27

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ACVA

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CARR

CHPT

CMPR

DXPE

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ILAG

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Citigroup Financial 300% Minupon Princ Protected Nts for Russell 2000 Index

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XMTR

Shares of companies within the broader industrial sector are trading higher following Core Retail Sales and Retail Sales economic data. Also, strength may be due to trader optimism that the Fed will cut rates.

<a href="https://edition.cnn.com/2024/07/16/politics/iran-plot-assassinate-trump-secret-service/index.html" title="https://edition.cnn.com/2024/07/16/politics/iran-plot-assassinate-trump-secret-service/index.html">https://edition.cnn.com/2024/07/16/politics/iran-plot-assassinate-trump-secret-service/index.html</a>

Politics

U.S. Received Intel Of Iranian Plot To Assassinate Trump; No Known Connection To Saturday's Rally Shooting

Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) is trading at $70.14 per share at last check <a href="https://www.benzinga.com/insights/options/24/07/39750676/decoding-walmarts-options-activity-whats-the-big-picture">Tuesday, up 0.73%</a>.
Evercore ISI Group analyst Greg Melich maintains Walmart an Outperform and raises the price target from $73 to $74.
According to&nbsp;<a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>, WMT stock has gained over 35% in the past year. Investors can gain exposure to the stock via&nbsp;SPDR Select Sector Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) and&nbsp;Fidelity MSCI COnsumer Staples Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSTA#NYSE">FSTA</a>).
The workers&#8217; union at Walmart in Chile canceled a strike on Monday, extending the current labor agreement with the company by another 18 months, Reuters reported.
The Chinese Ministry of Commerce recently announced that Vice Minister Wang Shouwen held talks with Walmart CEO Kathryn McLay, discussing China-U.S. economic ties, Walmart&#8217;s operations in China, and related matters, reported Reuters.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/07/39787139/chinese-ev-thrive-despite-tariff-hikes-foreign-rivals-struggle" rel="noreferrer noopener">Chinese EV Thrive Despite Tariff Hikes, Foreign Rivals Struggle</a>
Walmart relies heavily on imports from China for its goods.
Meanwhile, Walmart marked the grand opening of a new 730,000-square-foot perishable distribution center (PDC) in Lancaster, Texas with celebrations attended by Walmart associates,<a href="https://www.benzinga.com/pressreleases/24/07/b39797306/walmart-celebrates-grand-opening-of-high-tech-perishable-distribution-center" target="_blank" rel="noreferrer noopener"> local officials, and community members. </a>Situated 15 miles south of Dallas, the facility specializes in receiving and handling fresh produce, eggs, dairy, flowers, and frozen goods destined for nearby Walmart stores.
This new PDC represents Walmart&#8217;s second facility in Lancaster, following the next-generation fulfillment center that commenced operations in 2023.
Price Action: WMT shares are trading higher by 0.8% to $70.18 at last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/07/39761487/nancy-pelosi-reportedly-urged-to-end-democratic-turmoil-by-calling-for-bidens-withdrawal-from-pr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nancy Pelosi Reportedly Urged To End Democratic Turmoil By Calling For Biden&#8217;s Withdrawal From Presidential Election</a></li>
</ul>

FSTA

What's Going On With Walmart Shares Today?

Former President Donald Trump is embracing the <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39717014/is-a-donald-trump-presidency-the-next-big-catalyst-for-bitcoin">digital asset industry</a> in an effort to use cryptocurrencies as a wedge issue in the upcoming election, a new report found. 
What Happened: A Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-07-16/trump-seizes-on-crypto-as-wedge-issue-as-donors-cheer-him-on">report</a> detailed how the former president&#8217;s shifted stance on cryptocurrencies comes as the crypto industry seeks to energize under-40 voters and secure donations that Trump needs.
It marks a departure from his 2021 position when he criticized digital currencies, calling Bitcoin &#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/21/06/21456522/former-us-president-donald-trump-thinks-bitcoin-is-a-scam">a scam</a>.&#8221; Trump's supporters hope this move will boost his political fortunes after surviving an <a href="https://www.benzinga.com/government/24/07/39778541/trump-shooting-recalls-memories-of-reagan-assassination-attempt-heres-how-markets-react-to-political">assassination attempt</a> on July 13.
During the Republican National Convention in Milwaukee on July 15, Trump met with several crypto companies. His campaign&#8217;s wish list includes a hands-off regulatory approach, contrasting with the Biden administration&#8217;s <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38754228/veteran-trader-peter-brandt-warns-of-impending-regulatory-crackdown-on-crypto-staki">crypto crackdown</a> following the FTX collapse and other scandals.
<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/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Brian Morgenstern, head of public policy at Riot Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>), stated that under Trump, bank regulators wouldn&#8217;t force banks to close accounts of crypto firms. Trump also aims to <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39363038/donald-trump-speaks-on-bitcoin-mining-wants-all-the-remaining-bitcoin-to-be-made-in-the-us">promote Bitcoin mining</a>, protect self-custody of cryptocurrencies and prevent the Federal Reserve from issuing a competing <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36852864/donald-trump-promises-to-never-allow-cbdcs-during-new-hampshire-speech">central-bank digital currency</a>.
Trump&#8217;s crypto policies are still being finalized, but his public remarks and the Republican platform suggest potential winners and losers. More details may emerge during his speech at the <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39470346/trump-reportedly-discussing-participation-in-bitcoin-2024-conference-move-to-reinforce-cry">Bitcoin 2024 conference</a> on July 27.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39764879/odds-of-trump-presidency-raised-to-all-time-high-by-crypto-bettors-after-assassination-bid?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Odds Of Trump Presidency Raised To All-Time High By Crypto Bettors After Assassination Bid</a>
Why It Matters: Trump&#8217;s recent embrace of cryptocurrencies had a significant impact on his campaign&#8217;s fundraising efforts. According to the <a href="https://www.coindesk.com/policy/2024/07/16/trump-campaign-q2-crypto-donations-amounted-to-3m-of-331m-raised-wsj/?utm_medium=referral&amp;utm_source=rss&amp;utm_campaign=headlines">Wall Street Journal</a>, his campaign raised $3 million in crypto donations last quarter, out of a total $331 million raised. This includes contributions from major industry players like the <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39424615/trump-gets-2m-in-bitcoin-donations-for-2024-election-from-winklevoss-twins-the-biden-admin">Winklevoss twins</a> and Kraken co-founder Jesse Powell.
These donations highlight a growing niche appeal within the crypto community, with around 100 people contributing in digital currencies between May and June. This financial backing underscored the potential influence of the crypto sector on the upcoming election and Trump&#8217;s strategic pivot to attract younger voters <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39552094/kraken-co-founder-jesse-powell-endorses-only-pro-crypto-major-party-candidate-donald-trump">and industry support</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39785188/bitcoin-ethereum-dogecoin-extend-rally-triggered-by-failed-trump-assassination-attempt-ana?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Extend Rally Triggered By Failed Trump Assassination Attempt: Analyst Calls Pullback To $60K As King Crypto's Next ‘Big Test'</a></li>
</ul>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

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

Cryptocurrency

RIOT

The Real Reason Why Donald Trump Has Pivoted Towards Crypto

Titan Medical reports FY results

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Titan Medical Announces Strong Fiscal Growth and Merger Plans

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Titan Medical Settles Dispute, Advances Merger

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Titan Medical GAAP EPS of -$0.01

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Titan Medical Announces Q1 Results & Amalgamation

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Titan Medical Advances Toward Merger with Conavi

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Titan Medical Reschedules Merger Deadlines and AGM

Titan amends amalgamation agreement with Conavi Medical

Titan Medical (TSE:TMD) has released an update. Titan Medical Inc. has modified the terms of its merger agreement with Conavi Medical Inc., alterin...

Titan Medical Adjusts Merger Timeline with Conavi

TMDIF

Press Releases

Titan Medical to Report Year-End 2023 Financial Results on March 29, 2024

Titan Announces Merger Agreement with Conavi

Titan Announces Q&A Session with Shareholders

Titan Medical Reports Fiscal Year 2023 Results

Titan Settles Contractual Dispute with Contract Manufacturer

Titan Provides Update on Planned Merger with Conavi

Titan Medical Reports Financial Results for the First Quarter 2024

Titan Amends Amalgamation Agreement with Conavi Medical Inc. and Announces Extension of 2023 Annual General and Special Meeting

Titan Amends Amalgamation Agreement with Conavi Medical Inc.

TSX:TMD

Titan Medical

Titan Medical Inc. (&quot;Titan&quot; or the &quot;Company&quot;) (TSX:<a class="ticker" href="https://www.benzinga.com/stock/TMD#TSX">TMD</a>, OTC:<a class="ticker" href="https://www.benzinga.com/stock/TMDIF#OTC">TMDIF</a>) announced today that the Company has entered into a license agreement (&quot;Agreement&quot;) with Intuitive Surgical, Inc. (&quot;Intuitive&quot;) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>), a global technology leader in minimally invasive care and the pioneer of robotic-assisted surgery (&quot;RAS&quot;), for an upfront payment of US$7.5 million in respect of certain intellectual property (&quot;IP&quot;) of Titan. 
&nbsp;

Under the Agreement, Titan has granted Intuitive a non-exclusive license to all of Titan&#39;s IP, with the exception of the IP that is exclusively licensed to another party under a June 2020 license agreement. Titan retains ownership of the licensed IP, along with the associated rights including the right to continue to develop and commercialize the technologies covered by the licensed IP and the right to license the IP to other third parties.

Biotech

Contracts

ISRG

'Titan Medical Signs License Agreement With Intuitive Surgical; For An Upfront Payment Of $7.5M In Respect Of Certain Intellectual Property Of Titan'

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Latest news for Titan Medical (OTC:TMDIF) Stock

Friday, May 26, 2023