American Axle & Mfg Hldgs Azioni (NYSE: AXL)

Ultime notizie per American Axle & Mfg Hldgs (NYSE:AXL) Azioni

American Axle & Mfg Hldgs

American Axle & Mfg Holdings Inc is engaged in manufacturing, engineering, designing and validation of driveline systems and related components and chassis modules for light trucks, SUVs, crossover vehicles, passenger cars, and commercial vehicles. The company's segment includes Driveline and Metal Forming. It generates maximum revenue from the Driveline segment.

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Scopri i cinque titoli azionari da seguire oggi: EchoStar, Take-Two, American Axle, Doximity e AMC Networks.

Pre-market: 5 titoli da monitorare oggi, 9 agosto 2024

American Axle & Manufacturing Holdings, Inc. Common Stock

American Axle & Mfg Holdings Inc

Axelar - United States Dollar

Axiologix Inc

American Axle &amp; Manufacturing Holdings, Inc. (AAM), (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>) announced today that it has entered into a definitive agreement to sell its commercial vehicle axle business and related assets in India (AAM India Manufacturing Corporation Pvt., Ltd. or AAMIMCPL), to Bharat Forge Limited (BFL), for a purchase price of $65 million, subject to certain customary adjustments at closing. The business being sold generated approximately $156 million of sales in the last twelve months ending June 30, 2024.&nbsp;
&nbsp;
BFL is the Pune-based flagship company of Kalyani Group, a global provider of high-performance and safety critical components and solutions to multiple sectors including automotive, rail transportation, defense, construction &amp; mining, aerospace, marine and energy. The company has manufacturing facilities in India, Europe, and North America.
The scope of the transaction includes AAM's manufacturing facilities in Pune and Chennai, which are focused on light, medium and heavy commercial vehicle axles. It also includes AAM's Pune Engineering and Development Center. Excluded from the transaction are the AAM components manufacturing facility in Chakan and the Pune Business Office, which provides Engineering, IT and Procurement shared services for AAM's operations around the world.

Asset Sales

American Axle Offloads India Axle Business to Bharat Forge, Deal Valued at $65M

WIIM

ADNT

Shares of auto supplier stocks are trading lower following weak guidance from Stellantis, which could be causing concern for the sector.

Deutsche Bank analyst Edison Yu reinstates American Axle &amp; Mfg Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>) with a Hold and announces $6 price target.

Price Target

Initiation

Analyst Ratings

Deutsche Bank Reinstates Hold on American Axle & Mfg Hldgs, Announces $6 Price Target

Investors in American Axle &amp; Manufacturing Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/axl#NYSE">AXL</a>) need to pay close attention to the stock based on moves in the options market lately. That is because the Oct. 18, 2024 $4.00 Call had some of the highest implied volatility of all equity options today.
<h2>What is Implied Volatility?</h2>
Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.
<h2>What do the Analysts Think?</h2>
Clearly, options traders are pricing in a big move for American Axle shares, but what is the fundamental picture for the company? Currently, American Axle is a Zacks Rank #3 (Hold) in the Automotive - Original Equipment industry that ranks in the Bottom 38% of our Zacks Industry Rank. Over the last 60 days, no analysts have increased their earnings estimates for the current quarter, while three analysts have revised their estimates downward. The net effect has taken our Zacks Consensus Estimate for the current quarter from 5 cents per share to 2 cents in that period.
Given the way analysts feel about American Axle right now, this huge implied volatility could mean there&#39;s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.
<a href="https://www.zacks.com/stock/news/2333214/do-options-traders-know-something-about-american-axle-axl-stock-we-don-t?cid=CS-BENZ-FT-tale_of_the_tape|options-2333214">To read this article on Zacks.com click here.</a>

Options

Small Cap

Do Options Traders Know Something About American Axle Stock We Don't?

B of A Securities analyst John Murphy maintains American Axle &amp; Mfg Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>) with a Underperform and raises the price target from $7 to $7.5.

B of A Securities Maintains Underperform on American Axle & Mfg Hldgs, Raises Price Target to $7.5

After a blistering Thursday that saw the S&amp;P 500 close with its best session in nearly two years — up 2.3% — Wall Street&#8217;s price action turned sluggish on a Friday lacking <a href="https://www.benzinga.com/topic/interest-rates">market-moving economic events.</a>
By midday in New York, major indices were slightly positive or hovering around the flat line, signaling a slowdown in the bullish sentiment compared to the previous session.
Since the beginning of the week, the S&amp;P 500 is down 0.5%, with a few hours of trading left to determine whether the U.S. stock market can avoid closing in the red for the fourth consecutive week.
Meanwhile, there's a renewed demand for long-dated U.S. Treasury bonds, with yields declining by about 6 basis points on both the 10-year and 30-year notes. As a result, the popular iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) rallied 1%, snapping a three-session losing streak.
The dollar slightly weakened, slipping 0.5% against the Japanese yen after three consecutive days of gains.
Traders now see nearly equal odds of a 50-basis-point or a 25-basis-point rate cut by the Federal Reserve in September, according to the CME Group&#8217;s FedWatch tool.
In commodities, oil is up 0.7%, with West Texas Intermediate (WTI) light crude poised for its third consecutive session of gains.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) plunged 2% after rallying nearly 12%, marking its best-performing day since February 2022.
<h1 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices </td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,329.24</td>
<td>0.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,426.22</td>
<td>0.1 %</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>39,435.12</td>
<td>0.0%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,075.91</td>
<td>-0.5%</td>
</tr>
</tbody>
</table>
</figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent080924&amp;t=be2bearmibe3na1">Benzinga Pro</a> data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;rose 0.2% to $531.66.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;was flat at $394.74.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) inched 0.2% higher to $448.94.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.5% to $205.88.</li>
<li>The Health Care Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) outperformed, up by 0.4%. The Industrial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>) lagged, down by 0.2%.</li>
</ul>
<h1 class="wp-block-heading">Friday&#8217;s Stock Movers</h1>
<ul>
<li>Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) climbed 1.5%, building on the previous day&#8217;s 11% surge following the announcement of a partnership with Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) to deliver advanced cloud, artificial intelligence, and analytics capabilities to U.S. defense and intelligence agencies. Shares of Palantir are on track to close at the highest level since February 2021.</li>
<li>Eli Lilly &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) surged over 6% after several investment banks raised their price targets, following a strong earnings report last quarter. </li>
<li>Cisco Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) declined over 1% after revealing plans for thousands of job cuts, marking its second round of layoffs this year, as the company redirects its focus toward fast-growing sectors such as cybersecurity and artificial intelligence, Reuters reported.</li>
</ul>
Stocks reacting to company earnings are:
<ul>
<li>Akamai Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKAM#NASDAQ">AKAM</a>) up 10%,</li>
<li>CarGurus, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARG#NASDAQ">CARG</a>) up 18%, </li>
<li>Dropbox, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DBX#NASDAQ">DBX</a>) up 2.3%,</li>
<li>elf Beauty, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>) down 15%,</li>
<li>Evergy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVRG#NASDAQ">EVRG</a>) down 0.7%,</li>
<li>Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>) up 9%,</li>
<li>Five9, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>) down 26%,</li>
<li>Gilead Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>) down 3%,</li>
<li>Insulet Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PODD#NASDAQ">PODD</a>) down over 7%,</li>
<li>New Fortress Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFE#NASDAQ">NFE</a>) down 26%,</li>
<li>Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) up 0.5%,</li>
<li>Take-Two Interactive Software, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTWO#NASDAQ">TTWO</a>) up 2.5%,</li>
<li>Trade Desk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>) up 9.7%,</li>
<li>Unity Software Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/U#NYSE">U</a>) up 11%,</li>
<li>Yelp Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YELP#NYSE">YELP</a>) up 2.6%. </li>
</ul>
Read Now:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40284699/wall-street-shifts-to-bossing-the-fed-into-big-rate-cuts-after-bank-of-japans-polic">Wall Street Shifts To &#8216;Bossing The Fed Into Big Rate Cuts&#8217; After Bank Of Japan&#8217;s Policy U-Turn, Analyst Says</a></li>
</ul>
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Wall Street Momentum Stalls After Thursday's Rally, Palantir Jumps To 3-Year Highs, Bonds Rally: What's Driving Markets Friday?

Guidance

American Axle Is Targeting FY24 Sales In Range Of $6.1B-$6.3B Vs. $6.05B-$6.35B Prior (Estimate: $6.22B)

American Axle &amp; Mfg Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>) reported quarterly earnings of $0.19 per share which beat the analyst consensus estimate of $0.11 by 72.73 percent. This is a 58.33 percent increase over earnings of $0.12 per share from the same period last year. The company reported quarterly sales of $1.63 billion which beat the analyst consensus estimate of $1.58 billion by 3.29 percent. This is a 3.88 percent increase over sales of $1.57 billion the same period last year.

Earnings Beats

American Axle & Mfg Hldgs Q2 Adj $0.19 Beats $0.11 Estimate, Sales $1.63B Beat $1.58B Estimate

Sentiment continues to remain upbeat as <a href="https://www.benzinga.com/news/earnings/24/08/40157665/nasdaq-r2k-futures-tumble-over-4-vix-spikes-over-100-bitcoin-plunges-hard-as-global-sell-off-deepen">stocks look to close out a volatile week</a> on a positive note. The major index futures traded modestly higher in early trading, and given the absence of any major catalysts, the market could most likely consolidate its recent gains. Traders may dread to take huge positions ahead of next week&#8217;s inflation reports and retail sales data.
The CBOE Volatility Index, commonly called VIX, fell toward the 23 level, extending its slide from Thursday. The yen has strengthened slightly against the greenback, potentially stirring anxiety among traders. Bond yields are flatlining, while the rest of global markets have fed off the strength of Wall Street. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.24%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.14%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.03%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.40%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">In premarket trading on Friday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.17% to $531.54, and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.34% to $449.61, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Last Session:
U.S. stocks turned in a stellar performance on Thursday, as a report showing a bigger-than-expected decline in jobless claims, some positive earnings reports and the yen&#8217;s weakness set in motion a wave of buying in beaten-down stocks. The jobless claims data mitigated concerns regarding the weakening of the labor market and in turn, allayed recession worries.
The averages opened higher, moved roughly sideways and took a leg-up in the afternoon before moving sideways yet again. The S&amp;P 500 had the best outing since Nov. 30, 2022, in terms of the percentage of gains, according to Marketwatch.
The buying was across the board, with IT stocks spearheading the advance.
<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>+2.87%</td>
<td>16,660.02</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+2.30%</td>
<td>5,319.31</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+1.76%</td>
<td>39,446.49</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+2.42%</td>
<td>2,084.42</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> Insights From Analysts: Fund manager Louis Navellier expects the volatility to persist in August. The month is marked by &#8220;gyrations&#8221; and &#8220;air pockets,&#8221; he said, adding that this is attributable to &#8220;many Wall Street pros, plus Europe&#8221; being on vacation. &#8220;Low trading volume in August provides fertile ground for wild market gyrations like Monday's,&#8221; Navellier said. &#8220;So I am expecting this down, up, down market action to persist until the trading volume is exhausted,&#8221; he added. David Sadkin, President at Bel Air Investment Advisors, said the markets appear to be entering into a correction phase, with the much-loved tech sector leading the way. The strategist is sanguine, as he pointed to the economy, which while slowing, is continuing to expand, the better-than-expected European GDP growth and robust earnings growth. He expects the market to end higher by year-end. If the economy does slow, the Fed has leeway to cut rates and boost liquidity by other means to cushion any potential downside, Sadkin said. &#8220;Also, as we get more clarity on the geopolitical and the US political landscape, the market will likely settle down and continue its upward trajectory,&#8221; he said. &#8220;Long-term investors will weather a slowdown by remaining dispassionate and focusing on fundamentals rather than market panic.&#8221; Upcoming Economic Data: There are no major economic data/events scheduled for the day. See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a> Stocks In Focus: Akamai Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKAM#NASDAQ">AKAM</a>) climbed about 7.5% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following the announcement of its quarterly results. The other stocks moving on earnings are CarGurus, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARG#NASDAQ">CARG</a>) (up over 11.5%), e.l.f. Beauty, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>) (down over 9%), Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>) (up over 10.50%), Doximity, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOCS#NYSE">DOCS</a>), Five9, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>) (down over 15%), Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) (up over 6%), Take-Two Interactive Software, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTWO#NASDAQ">TTWO</a>) (up over 6%), and Trade Desk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>) (up over 7%). American Axle &amp; Manufacturing Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>) and EchoStar Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATS#NASDAQ">SATS</a>) are among the key companies due to <a href="https://www.benzinga.com/calendars/earnings">release their earnings reports ahead of the market opening</a>. Commodities, Bonds And Global Equity Markets: Crude oil as well as gold futures extended their gains and the 10-year Treasury note yield slipped 4.2 points to 3.957%. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rallied strongly toward the $60.5K mark. Taking cues from the U.S. market, stocks in Asia closed mostly higher, with the tech-heavy Taiwanese market leading the gains. The Chinese market retreated on inflation data that came in more than expected and the New Zealand market also settled modestly lower, while the Singaporean market was closed for a public holiday. European stocks were higher in early trading. Read Next:<a href="https://www.benzinga.com/markets/equities/24/08/40278776/as-nvidia-leads-magnificent-7-volatility-analyst-says-these-mega-caps-are-poised-to-outperform-s"> As Nvidia Leads Magnificent 7 Volatility, Analyst Says These Mega-Caps Are Poised To Outperform Small-Caps — But There&#8217;s A Catch</a></figcaption></figure>
Image Via Shutterstock

Futures

Previews

Movers

Nasdaq, S&P 500 Futures Climb After Thursday's Strong Rebound, Bitcoin Sizzles: Analyst Predicts A Roller Coaster Ride For Stocks Until This Happens

The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index remained in the &#8220;Extreme Fear&#8221; zone on Thursday.
U.S. stocks settled higher on Thursday, with the S&amp;P 500 index, as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), notching its best daily performance since January 2023.
On the economic data front, U.S. initial jobless claims declined by 17,000 to 230,000 in the week ending August 3, compared to market estimates of 240,000. U.S. wholesale inventories increased by 0.2% month-over-month to $903 billion in June, compared to a revised 0.5% rise in the earlier month.
US Foods Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USFD#NYSE">USFD</a>) reported better-than-expected sales for the second quarter. Eli Lilly And Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) reported better-than-expected second-quarter financial results and raised its full-year guidance.
All sectors on the S&amp;P 500 closed on a positive note, with communication services, industrials, and information technology stocks recording the biggest gains on Thursday.
The Dow Jones closed higher by around 683 points to 39,446.49 on Thursday. The S&amp;P 500 rose 2.30% at 5,319.31, while the Nasdaq Composite jumped 2.87% at 16,660.02 during Thursday's session.
Investors are awaiting earnings results from EchoStar Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATS#NASDAQ">SATS</a>), American Axle &amp; Manufacturing Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>), and AMC Networks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMCX#NASDAQ">AMCX</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 21.7, the index remained in the &#8220;Extreme Fear&#8221; zone on Thursday, versus a prior reading of 19.6.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next:<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40253347/top-3-utilities-stocks-that-could-lead-to-your-biggest-gains-this-month"> </a>
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40253347/top-3-utilities-stocks-that-could-lead-to-your-biggest-gains-this-month">Top 3 Utilities Stocks That Could Lead To Your Biggest Gains This Month</a></li>
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USFD

S&P 500 Records Best Session Since January 2023: Investor Sentiment Improves, But Greed Index Remains In 'Extreme Fear' Zone

With U.S. stock futures trading higher this morning on Friday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects EchoStar Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATS#NASDAQ">SATS</a>) to report a quarterly loss at 25 cents per share on revenue of $3.98 billion before the opening bell, according to data from Benzinga Pro. EchoStar shares fell 0.4% to $20.00 in after-hours trading.</li>
<li>Take-Two Interactive Software Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTWO#NASDAQ">TTWO</a>) shares gained in after-hours trading after the company <a href="https://www.benzinga.com/news/earnings/24/08/40271345/take-two-interactive-software-stock-jumps-on-q2-earnings-what-investors-need-to-know">reported fiscal first-quarter financial results</a>. The company said first-quarter revenue rose 5% year-over-year to $1.34 billion. Net bookings came in at $1.22 billion, up 1% on a year-over-year basis. Take-Two shares climbed 5.3% in the after-hours trading session to $146.13.</li>
<li>Analysts are expecting American Axle &amp; Manufacturing Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>) to post quarterly earnings at 11 cents per share on revenue of $1.58 billion. The company will release earnings before the markets open. American Axle shares gained 0.3% to $6.23 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Doximity, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOCS#NYSE">DOCS</a>) <a href="https://www.benzinga.com/news/earnings/24/08/40269788/doximity-stock-soars-on-q1-earnings-the-details">reported</a> better-than-expected first-quarter financial results and issued strong FY24 revenue guidance. Doximity&#8217;s first-quarter revenue increased 17% year-over-year to $126.68 million, beating the consensus estimate of $119.92 million, according to Benzinga Pro. The company reported adjusted earnings of 28 cents per share, beating analyst estimates of 22 cents per share. Doximity shares jumped 28.5% to $32.97 in the after-hours trading session.</li>
<li>Analysts expect AMC Networks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMCX#NASDAQ">AMCX</a>) to post quarterly earnings at $1.52 per share on revenue of $601.34 million before the opening bell. AMC Networks shares gained 0.4% to $10.34 in after-hours trading.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40253347/top-3-utilities-stocks-that-could-lead-to-your-biggest-gains-this-month">Top 3 Utilities Stocks That Could Lead To Your Biggest Gains This Month</a></li>
</ul>
Photo courtesy: Take Two Interactive

Take-Two, EchoStar And 3 Stocks To Watch Heading Into Friday

B of A Securities analyst John Murphy maintains American Axle &amp; Mfg Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>) with a Underperform and raises the price target from $7 to $8.

B of A Securities Maintains Underperform on American Axle & Mfg Hldgs, Raises Price Target to $8

Allison Transmission Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/alsn#NYSE">ALSN</a>) has signed a contract with BAE Systems Hagglunds (OTC: <a class="ticker" href="https://www.benzinga.com/stock/baesf#OTC">BAESF</a>), a prominent European producer of tracked combat vehicles, to supply the new Allison 4040 MX propulsion system for the ongoing CV90 Infantry Fighting Vehicle (IFV) programs, with production expected to commence in 2028. The 4040 MX, an upgraded version of the 3040 MX cross-drive transmission used in the U.S. Army&#39;s M10 Booker Combat Vehicle, expands Allison&#39;s medium-weight product line.
This agreement continues a longstanding collaboration between BAE Systems and Allison, presenting an opportunity for growth in ALSN&#39;s Defense market, potentially generating $100 million in additional annual revenues from various programs. BAE Systems&#39; BvS10 and Beowulf tracked vehicles are already equipped with Allison 3000 Specialty Series transmissions.
The 4040 MX will be used in ongoing CV90 programs, including the CV90 Mk IV IFV, and the agreement ensures long-term support for the existing CV90 fleet equipped with Allison X300 transmissions. Currently, nearly 1,000 CV90s are operated by countries, including Sweden, Denmark, Estonia, Finland, the Netherlands, Norway and Switzerland.
BAE Systems and the CV90 have also secured significant IFV contracts in Slovakia and the Czech Republic for about 400 new vehicles. The CV90 IFV, designed and manufactured in Sweden, is renowned for its protection of crew and passengers, accommodating a crew of three and up to eight soldiers.
Per Dana Pittard, vice president of Defense Programs at Allison, the introduction of the 4040 MX enriches ALSN&#39;s portfolio, facilitating international expansion with innovative solutions tailored to customer needs.
In a separate development, ALSN has supplied more than 10,000 fully automatic transmissions for the Hyundai Mighty since its 2020 integration. Currently, half of all Hyundai Mightys sold are equipped with Allison fully automatic transmissions, representing a significant increase from 10% four years ago. The 10,000th Mighty truck with an Allison fully automatic transmission was delivered to Unchang Logitec, a leading Korean logistics company.
The Hyundai Mighty, a 2.5- and 3.5-ton light-duty truck, dominates the South Korean market. The rising demand for Mighty automatic trucks is driven by their comfort, fuel efficiency, reliability, serviceability and productivity. Since its launch, Allison has delivered more than 10,000 units of the Allison 1000 xFE fully automatic transmissions for the Hyundai Mighty, used in various applications, such as delivery trucks, cargo trucks, refuse vehicles, firefighting trucks and specialty vehicles.
The Allison 1000 xFE transmission offers better launch performance, higher productivity, smoother shifting, easier operation and enhanced driver comfort compared to manual and automated manual transmissions. Its patented torque converter enhances performance and eliminates the need for clutch replacements, resulting in higher economic value through increased productivity and reduced downtime.
<h3>Zacks Rank &amp; Other Key Picks</h3>
ALSN currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the auto space are Suzuki Motor Corporation (OTC: <a class="ticker" href="https://www.benzinga.com/stock/szkmy#OTC">SZKMY</a>), Honda Motor Co., Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hmc#NYSE">HMC</a>) and American Axle &amp; Manufacturing Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/axl#NYSE">AXL</a>), each sporting a Zacks Rank #1 (Strong Buy) at present.
The consensus estimate for SZKMY&#39;s 2025 earnings suggests year-over-year growth of 2.09%. EPS estimates for 2025 and 2026 have improved 38 cents and 15 cents, respectively, in the past 60 days.
The Zacks Consensus Estimate for HMC&#39;s 2025 sales and earnings suggests year-over-year growth of 0.73%. EPS estimates for 2025 have improved 9 cents in the past 60 days.
The Zacks Consensus Estimate for AXL&#39;s 2024 sales and earnings suggests year-over-year growth of 3.05% and 544.44%, respectively. EPS estimates for 2024 have moved up 2 cents in the past 60 days. The same for 2025 has moved up 5 cents in the past 30 days.
<a href="https://www.zacks.com/stock/news/2304610/allison-alsn-collaborates-with-bae-systems-to-supply-4040-mx?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2304610">To read this article on Zacks.com click here.</a>

ALSN

BAESF

SZKMY

Allison Collaborates With BAE Systems to Supply 4040 MX

AutoNation, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/an#NYSE">AN</a>) has lowered its second-quarter 2024 quarterly earnings forecast following a cyberattack on software provider CDK Global on Jun 19, 2024. The auto retailer cut its guidance for earnings per share by $1.50 to $3.15-$3.30 for the three months ending Jun 30.
Despite the negative impact of the CDK outage on AutoNation&#39;s business and productivity, the incident is not expected to have a significant impact on the company&#39;s overall financial condition or operations. The company has regained access to its dealer management system and core functions and anticipates completing the restoration of the remaining ancillary systems by the end of July.
With the guidance trimmed for the second quarter of 2024, should investors consider selling the stock? Or is it worth retaining in your portfolio? Let&#39;s find out.
<h3>Soundly Managed Risk &amp; Expansion Efforts to Drive Prospects</h3>
A diversified product mix and multiple streams of income (from the sale of new and used vehicles, after-sales services and customer financial business) reduce the risk profile of AutoNation and augur well for its earnings and sales growth.
A strong geographical footprint, large dealer network and store expansion efforts are praiseworthy and allow the company to reach and serve a broad customer base. In the last reported quarter, the company expanded its used vehicle store footprint in the United States by opening four additional stores.
Enhanced digital solutions are expanding the company&#39;s market presence, with initiatives like next-day ship-to-home, curb-side pick-up and buy-online, pick-up in-store (BOPIS) gaining traction. Omni-channel marketing is integral to AutoNation&#39;s long-term strategy and customer preference for the model is expected to increase its revenues. The launch of AutoNation Express, facilitating online vehicle buying and selling, signifies a leap in digitization.
<h3>Acquisitions to Support Top-Line Growth</h3>
Buyouts of Priority 1 Automotive and Peacock Automotive&#39;s 11 dealerships have boosted AutoNation&#39;s annualized revenues. The acquisition of four dealerships from Moreland Auto Group is also fueling AN&#39;s annual revenues.
Additionally, the CIG Financial buyout has unlocked a significant upside for AutoNation&#39;s F&amp;I segment. The acquisition seeks to take AutoNation&#39;s relationship with its customers beyond the buying experience and throughout the vehicle ownership life cycle. The acquisition of RepairSmith has expanded the company&#39;s range of after-sales services.
<h3>Conclusion</h3>
Despite a stretched balance sheet and rising competition, AutoNation has consistently beat earnings estimates in recent quarters. Better management of risk, rising geographical footprint, large dealer network, store expansion efforts and acquisitions have corroborated the company&#39;s growth. In light of these factors, investors who already have this Zacks Rank #3 (Hold) stock in their portfolio should retain it.
<h3>Key Picks</h3>
Some better-ranked stocks in the auto space are Suzuki Motor Corporation (OTC: <a class="ticker" href="https://www.benzinga.com/stock/szkmy#OTC">SZKMY</a>), Honda Motor Co., Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hmc#NYSE">HMC</a>) and American Axle &amp; Manufacturing Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/axl#NYSE">AXL</a>), each sporting a Zacks Rank #1 (Strong Buy) at present.
The consensus estimate for SZKMY&#39;s 2025 earnings suggests year-over-year growth of 2.09%. EPS estimates for 2025 and 2026 have improved 38 cents and 15 cents, respectively, in the past 60 days.
The Zacks Consensus Estimate for HMC&#39;s 2025 sales and earnings suggests year-over-year growth of 0.73%. EPS estimates for 2025 have improved 9 cents in the past 60 days.
The Zacks Consensus Estimate for AXL&#39;s 2024 sales and earnings suggests year-over-year growth of 3.05% and 544.44%, respectively. EPS estimates for 2024 have moved up 2 cents in the past 60 days. The same for 2025 has moved up 5 cents in the past 30 days.
<a href="https://www.zacks.com/stock/news/2303686/autonation-an-cuts-q2-eps-view-buy-hold-or-sell-the-stock?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2303686">To read this article on Zacks.com click here.</a>

AutoNation Cuts Q2 EPS View: Buy, Hold or Sell the Stock?

Ford Motor Company&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/f#NYSE">F</a>) U.S. sales in the second quarter increased 1% year over year, with a notable 5% rise in truck sales. The company sold 308,920 trucks, including pickups and vans, marking its best second-quarter performance for trucks since 2019. Sales of the F-Series reached 199,463 vehicles, increasing 30% from the previous quarter.
Ford&#39;s electric vehicle sales reached 23,957 units in the second quarter, up 61.4% year over year. The Mustang Mach-E and F-150 Lightning are particularly attracting new customers, with the F-150 Lightning&#39;s sales surging 77% year over year to 7,902 units.
Hybrid vehicle sales also set a new quarterly record for Ford, with 53,822 units sold, up 56% year over year. The surge in sales was significantly boosted by Maverick sales, totaling 40,420 units through the first half of the year.
Ford brand SUVs achieved record first-half sales of 406,467 units, up 3% year over year, driven by the Explorer, the best-selling three-row SUV in the United States, with 104,803 units sold. Sales of the Escape and Expedition also rose 10% and 15%, respectively, in the first half.
The Lincoln brand saw a sales increase of 18.9% to 23,923 units, driven by the new Lincoln Nautilus. In the second quarter of 2024, Nautilus hybrid sales accounted for 44% of Nautilus total sales, while Corsair and Aviator sales rose 17% and 90%, respectively.
Automakers like Ford are relying on hybrids to facilitate the transition to EVs and meet stringent federal fuel efficiency standards.
Ford&#39;s rival, General Motors Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gm#NYSE">GM</a>), recently reported second-quarter sales of 696,086 units, up 0.6% year over year. GM recorded its highest quarterly sales since the fourth quarter of 2020. The modest sales rise for both Ford and GM exceeds expectations for the overall market. Industry forecasters like Cox Automotive and Edmunds predict that second-quarter sales across the auto industry will remain nearly unchanged compared with the previous year.
<h3>Zacks Rank &amp; Other Key Picks</h3>
F currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the auto space are Blue Bird Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/blbd#NASDAQ">BLBD</a>) and American Axle &amp; Manufacturing Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/axl#NYSE">AXL</a>), each sporting a Zacks Rank #1 (Strong Buy) at present.
The consensus estimate for BLBD&#39;s 2024 sales and earnings suggests year-over-year growth of 17.29% and 155.14%, respectively. The EPS estimates for 2024 and 2025 have improved 63 cents and 69 cents, respectively, in the past 60 days.
The Zacks Consensus Estimate for AXL&#39;s 2024 sales and earnings suggests year-over-year growth of 3.05% and 544.44%, respectively. The EPS estimates for 2024 have moved up 5 cents in the past 60 days. The EPS estimates for 2025 have moved up 20 cents in the past 30 days.
<a href="https://www.zacks.com/stock/news/2296907/ford-f-us-sales-rise-1-in-q2-on-strong-truck-deliveries?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2296907">To read this article on Zacks.com click here.</a>

BLBD

Ford US Sales Rise 1% in Q2 on Strong Truck Deliveries

Stellantis N.V. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stla#NYSE">STLA</a>) reported a significant drop in its U.S. sales during the second quarter of 2024, continuing a trend of declines in recent periods. The company, which owns Jeep, Ram, Chrysler, Dodge and Fiat, saw a more substantial decline compared with previous periods. STLA last reported a quarterly sales increase in the second quarter of 2023.
In the second quarter of 2024, Stellantis reported U.S. sales of 344,993 vehicles, representing a 21% decrease from the 434,648 units sold in the year-ago period.
Among STLA&#39;s U.S. brands, only the low-volume Fiat and Alfa Romeo showed a year-over-year sales rise in the second quarter. The sales of Jeep, Ram, Chrysler and Dodge decreased 19%, 26%, 19% and 17%, respectively, compared with the same period in 2023. Alfa Romeo sales rose 8% year over year. Fiat sold 316 vehicles compared with 144 sold in the year-ago quarter.
The Jeep Wagoneer and Grand Wagoneer, more expensive and profitable models of Stellantis, saw substantial year-over-year sales growth, with an increase of 107% and 24%, respectively. Moreover, retail sales for the Jeep Wrangler, Grand Cherokee and Compass models rose 24%, 12% and 15%, respectively, from the previous quarter of 2024.
Stellantis also highlighted its strong performance with plug-in hybrid models. The Jeep Wrangler 4xe, Jeep Grand Cherokee 4xe, Dodge Hornet R/T and Chrysler Pacifica Hybrid remained four of the top five best-selling plug-in hybrids in the United States.
Per Matt Thompson, head of U.S. retail sales for Stellantis, the company&#39;s efforts in the first half of the year, which includes a multi-energy strategy and pricing adjustments across its brands, have resulted in significant momentum. The second quarter experienced a 4% increase in total U.S. sales and market share compared with the previous quarter.
To boost sales, STLA recently launched a national Summer Select Inventory Bonus Cash incentive campaign, offering up to $2,000 cash back on many of its models.
The sales team leadership at Stellantis has seen significant changes recently, with many executives leaving various roles in North America. For example, Matt Thompson replaced Jason Stoicevich as senior vice president of U.S. retail sales shortly after Stoicevich&#39;s brief tenure.
Stellantis&#39; news release did not mention the cyberattack on CDK Global, which impacted about half of U.S. dealers, including those selling Stellantis vehicles. This attack forced some dealers to use paper records.
<h3>Zacks Rank &amp; Key Picks</h3>
STLA currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the auto space are Blue Bird Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/blbd#NASDAQ">BLBD</a>), Geely Automobile Holdings Limited&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/gelyy#OTC">GELYY</a>) and American Axle &amp; Manufacturing Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/axl#NYSE">AXL</a>), each sporting a Zacks Rank #1 (Strong Buy) at present.
The consensus estimate for BLBD&#39;s 2024 sales and earnings suggests year-over-year growth of 17.29% and 155.14%, respectively. The EPS estimates for 2024 and 2025 have improved 63 cents and 69 cents, respectively, in the past 60 days.
The Zacks Consensus Estimate for GELYY&#39;s 2024 sales suggests year-over-year growth of 36.63%. The EPS estimates for 2024 and 2025 have improved 21 cents and 34 cents, respectively, in the past 60 days.
The Zacks Consensus Estimate for AXL&#39;s 2024 sales and earnings suggests year-over-year growth of 3.05% and 544.44%, respectively. The EPS estimates for 2024 have moved up 5 cents in the past 60 days. The EPS estimates for 2025 have moved up 20 cents in the past 30 days.
<a href="https://www.zacks.com/stock/news/2296577/stellantis-stla-q2-us-sales-fall-despite-strategic-shifts?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2296577">To read this article on Zacks.com click here.</a>

GELYY

STLA

Stellantis Q2 US Sales Fall Despite Strategic Shifts

General Motors Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gm#NYSE">GM</a>) reported its best quarterly sales in the United States in more than three years, with significant increases in full-size pickup trucks and EVs.
The automaker sold 696,086 units in the second quarter, rising 0.6% year over year and the highest since the fourth quarter of 2020.
EV deliveries rose 40% year over year to 21,930 units, comprising only 3.2% of total second-quarter sales. The year-over-year rise in EV sales was fueled by electric Hummer, which sold 2,929 units in the second quarter compared with 47 units in the year-ago period. LYRIQ is rapidly gaining traction in the EV market, with second-quarter sales increasing 26% compared with the first quarter.
GM sold approximately 229,000 full-size pickup trucks, up 6% year over year, marking the highest quarterly sales since 2021.
However, General Motors&#39; total sales for the first half of the year were down 0.4% year over year, totaling around 1.3 million vehicles.
GM&#39;s second-quarter sales are projected to be slightly above the overall industry. Cox Automotive and Edmunds, both auto industry forecasters, anticipate second-quarter sales industrywide, including Jul 1, 2024, to remain roughly level from a year earlier due to slowing retail demand.
The automaker is making a strong push on SUVs and plans to release eight all-new or redesigned internal combustion engine SUVs by the end of the year.
A significant unknown factor in the second quarter is the impact of cyberattacks on dealer software provider CDK Global. The Jun 19, 2024, ransomware attack forced CDK, a market leader, to shut down its dealer management system, affecting nearly half of all dealerships in North America.
Per GM, dealers using the CDK platform are striving to meet high customer demand despite challenging conditions. Some deliveries might be delayed until the third quarter.
Dealers, including the largest publicly traded ones, were compelled to delay sales or find workarounds due to the attacks.
Per Automotive News, five out of the six major publicly traded franchised dealership groups use CDK as their primary dealership management system provider. Those dealership groups include Asbury Automotive Group, AutoNation Inc., Group 1 Automotive Inc., Lithia Motors Inc. and Sonic Automotive Inc.
The Hyundai brand reported sales of 214,719 vehicles in the second quarter, rising 2.2% from the year-ago quarter.
Kia, which releases sales figures monthly, saw a 6.5% decline in June sales. For the first half of the year, Kia&#39;s sales were down approximately 2%, totaling 386,460 vehicles.
<h3>Zacks Rank &amp; Key Picks</h3>
GM currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the auto space are Blue Bird Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/blbd#NASDAQ">BLBD</a>), Geely Automobile Holdings Limited (OTC: <a class="ticker" href="https://www.benzinga.com/stock/gelyy#OTC">GELYY</a>) and American Axle &amp; Manufacturing Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/axl#NYSE">AXL</a>), each sporting a Zacks Rank #1 (Strong Buy) at present.
The consensus estimate for BLBD&#39;s 2024 sales and earnings suggests year-over-year growth of 17.29% and 155.14%, respectively. The EPS estimates for 2024 and 2025 have improved 63 cents and 69 cents, respectively, in the past 60 days.
The Zacks Consensus Estimate for GELYY&#39;s 2024 sales suggests year-over-year growth of 36.63%. The EPS estimates for 2024 and 2025 have improved 21 cents and 34 cents, respectively, in the past 60 days.
The Zacks Consensus Estimate for AXL&#39;s 2024 sales and earnings suggests year-over-year growth of 3.05% and 544.44%, respectively. The EPS estimates for 2024 have moved up 5 cents in the past 60 days. The EPS estimates for 2025 have moved up 20 cents in the past 30 days.
<a href="https://www.zacks.com/stock/news/2296575/general-motors-gm-q2-us-deliveries-rise-on-strong-ev-sales?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2296575">To read this article on Zacks.com click here.</a>

General Motors Q2 US Deliveries Rise on Strong EV Sales

The U.S. equity markets are in good shape driven by the artificial intelligence&nbsp;rally. The tech-heavy Nasdaq Composite gained 18.1% in the year&#39;s first half. The S&amp;P 500 gained 14.5%, while the tech-light Dow Jones index appreciated only 3.8%. The decline in inflation is another major tailwind. The annual inflation rate in the United States slowed to 3.3% in May 2024, the lowest in three months compared to 3.4% in April.
Given this improving scenario, investors would like to design a winning portfolio of stocks for healthy returns. However, with many stocks present in the market at any point, spotting potential outperformers is tough for individual investors. In the absence of proper guidance, identifying a winning stock is akin to searching for a needle in a haystack. Given this backdrop, it is in the best interest of investors to seek guidance from &quot;experts in the field.&quot; The concerned experts are brokers. Brokers have a deeper insight into what&#39;s happening in a particular company along with a better understanding of the overall sector and the industry.
Keeping this in mind, we designed a screen to shortlist stocks based on improving analyst recommendations and upward revisions in earnings estimates over the past four weeks. Also, since the price/sales ratio is a strong complementary valuation metric in the presence of analyst information, it has been included. The price/sales ratio takes care of the company&#39;s top line, making the strategy more effective.
<h3>Screening Criteria</h3>
# (Up- Down Rating)/ Total (4 weeks) =Top #75&nbsp;(This gives the list of the top 75 companies that have witnessed net upgrades over the last 4 weeks).
% change in Q (1) est. (4 weeks) = Top #10&nbsp;(This gives the top 10 stocks that have witnessed earnings estimate revisions over the past 4 weeks for the upcoming quarter).
Price-to-Sales = Bot%10&nbsp;(The lower the ratio, the better. Companies meeting this criterion are in the bottom 10% of our universe of over 7,700 stocks with respect to this ratio).
Price greater than 5&nbsp;(as a stock trading below $5 will not likely create significant interest for most of the investors).
Average Daily Volume greater than 100,000 shares over the last 20 trading days&nbsp;(Volume has to be significant to ensure that these are easily traded).
Market value ($ mil) = Top #3000&nbsp;(This gives us stocks that are the top 3000 in terms of market capitalization).
Com/ADR/Canadian= Com&nbsp;(This takes out the ADR and Canadian stocks).
Here are five of the 10 stocks that made it through the screen:
Air Transport Services (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/atsg#NASDAQ">ATSG</a>) is being well-served by initiatives to modernize and expand its fleet. The company expects to end 2024 with 137 aircraft (118 freighters and 19 passenger planes) in service compared with 129 at 2023-end. We are also impressed by the company&#39;s efforts to reward its shareholders through buybacks.
Over the past 60 days, the Zacks Consensus Estimate for ATSG&#39;s current-year earnings has remained steady at 73 cents per share. ATSG currently carries a Zacks Rank #3 (Hold).
Allegiant Travel (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/algt#NASDAQ">ALGT</a>) is gaining from the buoyant air travel demand scenario. Efforts to upgrade its fleet are praiseworthy as well. The fleet size was 126 at 2023-end. ALGT aims to expand its fleet size to 126 at the end of 2024.
ALGT&#39;s earnings surpassed estimates in three of the last four quarters (missing the mark once). The average beat is 29.31%. Allegiant currently carries a Zacks Rank #3.
New York-based&nbsp;ABM Industries&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/abm#NYSE">ABM</a>) is a provider of integrated facility solutions in the United States and other countries.&nbsp;ABM currently carries a Zacks Rank #3. The company has an impressive surprise history, with its earnings surpassing the Zacks Consensus Estimate in three of the last four quarters (missing the mark on the other occasion), the average beat being 7.3%.
The company&#39;s comprehensive transformational initiative called 2020 Vision has helped it attain long-term profitable growth through an industry-based go-to-market approach. The multi-year comprehensive strategic plan, ELEVATE is expected to accelerate ABM&#39;s organic growth, improve its strategic and comprehensive positioning, and reinforce profitability.
American Axle (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/axl#NYSE">AXL</a>) is a supplier of driveline and drivetrain systems, modules, and components for the automotive market. American Axle&#39;s efforts to diversify its business, products, and customer base are generating impressive results. Optimization of its portfolio via buyouts is enhancing the firm&#39;s position.
The Zacks Consensus Estimate for AXL&#39;s 2024 earnings is currently pegged at 40 cents per share, indicating a 14.3% upward revision over the past 60 days. AXL&#39;s earnings surpassed estimates in three of the last four quarters (missing the mark once). The average beat is 404.7%. American Axle currently sports a Zacks Rank #1.
Warner Bros. Discovery&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wbd#NASDAQ">WBD</a>) benefits from impressive streaming subscriber growth, driven by an expanding content portfolio. The company&#39;s focus on sports streaming, particularly live sports, is a further tailwind.
WBD currently carries a Zacks Rank #3. The Zacks Consensus Estimate for WBD&#39;s 2025 earnings has been revised upward over the past 60 days by more than 100%.
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
<a href="https://www.zacks.com/stock/news/2296170/5-broker-loved-stocks-to-keep-an-eye-on-in-the-current-scenario?cid=CS-BENZ-FT-analyst_blog|rw-2296170">To read this article on Zacks.com click here.</a>

Buybacks

ALGT

ATSG

5 Broker-Loved Stocks to Keep an Eye on in the Current Scenario

Honda Motor Co., Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hmc#NYSE">HMC</a>) and Mitsubishi Corporation&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/mtsuy#OTC">MTSUY</a>) are set to form a 50/50 joint venture (JV), ALTNA Co., Ltd., in July 2024. The JV is aimed at advancing EV implementation and decarbonization. 
Combining Honda&#39;s EV and battery technologies with Mitsubishi&#39;s power-generation expertise, ALTNA will offer mobility services to reduce EV ownership costs and develop power-supply operations for long-term battery use. ALTNA will handle battery leasing, repurposing and intelligent charging. Seiichi Fukui will become the representative director, president and chief executive of ALTNA. 
Per Toshiro Mibe, president of Honda, the company is developing a comprehensive EV value chain encompassing everything from raw material procurement to EV production and battery repurposing and recycling. 
The new battery electric vehicle (BEV) version of the N-VAN, which is scheduled to launch in October 2024, will offer a spacious cargo area with a flat, low floor, high ceiling and a large passenger-side opening due to the absence of a center pillar. It serves as a remote power source and is silent to drive. 
With a range of 152 miles per charge in WLTC mode, the BEV is suitable for commercial deliveries, charging in 4.5 hours at 6 kW or 30 minutes at 50 kW. It features Honda&#39;s battery cooling and heating system to mitigate performance degradation. Four versions, including the e: L4 4-seater and e: Fun for hobbyists, cater to various commercial and private needs. 
ALTNA&#39;s battery leasing business will begin with the Honda N-VAN EV. ALTNA will own and monitor the leased batteries, ensuring their long-term use and repurposing them for grid storage post-automotive use, thus reducing costs for EV users. 
ALTNA will repurpose end-of-life EV batteries for grid stability and renewable energy utilization, ensuring recycling for resource efficiency. Its smart charging plans will optimize electricity costs by avoiding peak hours and leveraging surplus renewable energy, potentially offering V2G services in the future. 
In another development, Honda has partnered with Emporia, a leader in energy management technology, to innovate in-home energy management. This collaboration includes a strategic investment by Honda in Emporia and a joint development agreement in North America focusing on smart EV charging and home energy management. Together, the companies aim to deliver cutting-edge solutions that enhance energy efficiency and support Honda&#39;s goal of carbon neutrality by 2050.
<h3>Zacks Rank &amp; Other Key Picks</h3>
HMC currently carries a Zacks Rank #2 (Buy). 
Some other top-ranked stocks in the auto space are Blue Bird Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/blbd#NASDAQ">BLBD</a>), Oshkosh Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/osk#NYSE">OSK</a>) and American Axle &amp; Manufacturing Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/axl#NYSE">AXL</a>), each sporting a Zacks Rank #1 (Strong Buy) at present. 
The consensus estimate for BLBD&#39;s 2024 sales and earnings suggests year-over-year growth of 17.29% and 155.14%, respectively. The EPS estimates for 2024 and 2025 have improved 63 cents and 69 cents, respectively, in the past 60 days. 
The Zacks Consensus Estimate for OSK&#39;s 2024 sales and earnings suggests year-over-year growth of 9.86% and 11.92%, respectively. The EPS estimates for 2024 and 2025 have improved 12 cents and 10 cents, respectively, in the past 30 days. 
The Zacks Consensus Estimate for AXL&#39;s 2024 sales and earnings suggests year-over-year growth of 3.05% and 544.44%, respectively. The EPS estimates for 2024 have moved up 2 cents in the past 30 days. The EPS estimates for 2025 have moved up 15 cents in the past seven days.
<a href="https://www.zacks.com/stock/news/2288515/honda-hmc-mitsubishi-form-jv-to-create-budget-bev-brand?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2288515">To read this article on Zacks.com click here.</a>

MTSUY

Honda & Mitsubishi Form JV to Create Budget BEV Brand

Investors might want to bet on American Axle &amp; Manufacturing (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/axl#NYSE">AXL</a>), as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.
The Zacks rating relies solely on a company&#39;s changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.
Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time.
Therefore, the Zacks rating upgrade for American Axle basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.
Most Powerful Force Impacting Stock Prices
The change in a company&#39;s future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company&#39;s shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.
For American Axle, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company&#39;s underlying business. And investors&#39; appreciation of this improving business trend should push the stock higher.
Harnessing the Power of Earnings Estimate Revisions
Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988.
Earnings Estimate Revisions for American Axle
For the fiscal year ending December 2024, this maker of auto parts is expected to earn $0.40 per share, which is a change of 544.4% from the year-ago reported number.
Analysts have been steadily raising their estimates for American Axle. Over the past three months, the Zacks Consensus Estimate for the company has increased 25.3%.
Bottom Line
Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of &#39;buy&#39; and &#39;sell&#39; ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a &#39;Strong Buy&#39; rating and the next 15% get a &#39;Buy&#39; rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
The upgrade of American Axle to a Zacks Rank #1 positions it in the top 5% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
<a href="https://www.zacks.com/stock/news/2286828/all-you-need-to-know-about-american-axle-axl-rating-upgrade-to-strong-buy?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_12_zacks_rank_upgrade-2286828">To read this article on Zacks.com click here.</a>

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