Ultime notizie per Michelin (OTC:MGDDY) Azioni

COMPAGNIE GENERALE D

Michelin manufactures tires for passenger vehicles. The company also makes tires for all types of commercial vehicles as well as bicycle, motorcycle, earthmover, aviation, and agricultural tires. Its operations are organized into three operating segments namely Automotive and related distribution; Road transportation and related distribution; Specialty businesses and related distribution. The company generates maximum revenue from Automotive and related distribution segments. The Specialty businesses include the Mining, Beyond-road, Two-wheel and Aircraft tire activities, as well as the High-Tech Materials activities. The Services & Solutions businesses are included for the most part in the "Road transportation and related distribution" segment.

MICHELIN CIE GEN UNSP/ADR by CIE GENERALE DES ETABLISSEMENTS MICHELIN SA CLERMONT-FERRAND

Michelin

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Michelin Adjusts FY Guidance, Sees Sales Volumes Expected Within Range Of -6% And 4%; Group Total Sales For 9-Month €20.171 Billion, Down 4.6% YoY; Now Expects Segment Operating Income Around €3.4 Billion Vs More Than €3.5 Billion Before

As soon as Democratic nominee Kamala Harris promised to <a href="https://www.benzinga.com/news/24/08/40387906/kamala-harris-plans-historic-federal-ban-on-corporate-price-gouging-in-food-and-grocery-industries">ban price-gouging on groceries</a> (if she were elected U.S. President in November), the blowback from critics was loud and fierce. 
But such laws, which put a floor and a ceiling on consumer goods and services through government mandate, are not new.
For example, President Franklin D. Roosevelt signed into law the Emergency Price Control Act of 1942 to curb inflation during World War II. It was enacted on Jan. 30, 1942 and expired on June 30,1947, <a href="https://www.loc.gov/item/uscode1940-006050a010/">according</a> to the Library of Congress.
Almost 30 years later, President Richard Nixon issued an executive order in 1971 that put a 90-day freeze on wages and prices, following the Economic Stabilization Act of 1970, <a href="https://www.cato.org/commentary/remembering-nixons-wage-price-controls">according</a> to the Cato Institute.
Read Also: <a href="https://feeds2.benzinga.com/personal-finance/24/08/40508841/oleary-on-harris-price-control-plan-thats-beyond-crazy-it-didnt-work-in-the-70s-it-wont-work-now">O&#8217;Leary On Harris&#8217; Price Control Plan: &#8216;That&#8217;s Beyond Crazy&#8217; – It Didn&#8217;t Work In The &#8217;70s, It Won&#8217;t Work Now</a>
There are countless other instances of governments imposing such legislation as far back as the days of the Roman Empire, <a href="https://cdn.mises.org/Forty%20Centuries%20of%20Wage%20and%20Price%20Controls%20How%20Not%20to%20Fight%20Inflation_2.pdf">according</a> to &#8220;Forty Centuries of Wages and Price Controls.&#8221;
Harris presented the price-gouging ban a week ago at <a href="https://www.benzinga.com/news/24/08/40387906/kamala-harris-plans-historic-federal-ban-on-corporate-price-gouging-in-food-and-grocery-industries">a campaign rally</a> in North Carolina. The plan includes sharper scrutiny on potential mergers between supermarkets and food producers, which leads to higher grocery prices as expenses are passed onto consumers.
Grocer association gave the proposal <a href="https://www.benzinga.com/news/24/08/40467624/harris-price-gouging-plan-faces-pushback-from-grocers-hurting-from-the-same-inflationary-pressure-as">the cold shoulder</a>. They argue that they face the same inflationary pressures that consumers do.
When enacted, price control legislation significantly impacts sectors that have a handful of dominant players, such as soda production, tire manufacture, wireless communications and retail.
Price Action: Soda producers saw gains and losses by Friday&#8217;s mid-afternoon trading.
<ul>
<li>The Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) dipped 0.19% to $69.20</li>
<li>PepsiCo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) declined 0.60% to $174.69</li>
<li>Unilver PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UL#NYSE">UL</a>) gained 1.42% to $63.41</li>
</ul>
Tire makers also went in both directions on Wall Street on Friday.
<ul>
<li>The Goodyear Tire &amp; Rubber Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GT#NASDAQ">GT</a>) jumped 5.12% to $8.93</li>
<li>Bridgestone Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BRDCY#OTC">BRDCY</a>) gained 1.37% to $20.01</li>
<li>Group Michelin (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MGDDY#OTC">MGDDY</a>) slipped 0.81% to $19.54</li>
</ul>
Wireless communications providers trended upward. 
<ul>
<li>Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) gained 0.69% to $41.15</li>
<li>AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) went up 0.82% to $19.67</li>
<li>T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) rose 0.73% to $197.88</li>
</ul>
Retailers also had a positive day into Friday&#8217;s mid-afternoon trading.
<ul>
<li>Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) improved 0.19% to $75.43</li>
<li>Amazon.com, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) rose 0.47% to $176.96</li>
<li>Target Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) climbed 0.68% to $157.88</li>
</ul>
Read Now: 
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40430000/donald-trump-takes-one-point-lead-over-kamala-harris-in-new-national-poll-has-slim-lead-in-key-swing">Donald Trump Takes One-Point Lead Over Kamala Harris In New National Poll, Has Slim Lead In Key Swing State</a></li>
</ul>

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FDR, Nixon Tried Price Control Legislation: Would It Work For Kamala Harris?

Michelin Says Co Still Sees FY Adj. Free Cash Flow Above €1.5B

<ul>
<li>Stellantis NV&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stla#NYSE">STLA</a>) has signed a binding agreement to acquire a 33.3% stake in&nbsp;Symbio, a zero-emission hydrogen mobility company. Financial terms of the&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/05/g32414299/stellantis-to-acquire-equal-stake-with-faurecia-and-michelin-in-symbio-a-leader-in-zero-emission-h" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">transaction were not disclosed.</a></li>
<li>The other shareholders,&nbsp;Faurecia and&nbsp;Michelin&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/mgddy#OTC">MGDDY</a>), will retain their 33.3% stake each.</li>
<li>The addition of Stellantis as a shareholder is expected to boost Symbio&#39;s development across Europe and in the U.S.</li>
<li>Symbio plans to produce 50,000 fuel cells per year by 2025, leveraging its Saint-Fons gigafactory, which will start production in the second half of 2023.&nbsp;</li>
<li>Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/05/32390430/stellantis-italy-workers-protest-slows-alfa-output-report" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Stellantis Italy Workers Protest Slows Alfa Output</a></li>
<li>&quot;Acquiring an equal stake in Symbio will bolster our leadership position in hydrogen-powered vehicles by supporting our fuel cell van production in France, and it also serves as a perfect complement to our growing battery electric vehicle portfolio,&quot; said Stellantis CEO Carlos Tavares.</li>
<li>The acquisition is expected to close in the third-quarter of 2023.</li>
<li>Also Read:<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/23/05/32180682/stellantis-records-14-increase-in-q1-revenue-boosted-by-higher-shipments" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">&nbsp;Stellantis Records 14% increase In Q1 Revenue Boosted By Higher Shipments</a></li>
<li>Price Action: STLA shares are trading lower by 0.56% at $16.01 in premarket on the last check Tuesday.</li>
</ul>

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STLA

Stellantis Acquires 33% Stake In Hydrogen Mobility Firm Symbio

Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/22/12/30184690/remember-cambridge-analytica-scandal-facebook-parent-meta-to-pay-725m-to-settle-privacy-lawsuit" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Remember Cambridge Analytica Scandal? Facebook Parent Meta To Pay $725M To Settle Privacy Lawsuit</a>
<ul>
<li>The fallout from&nbsp;Facebook&#39;s&nbsp;Cambridge Analytica&nbsp;privacy scandal continues four years after it was first exposed in March 2018. Parent company&nbsp;Meta Platforms Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) has agreed to pay $725 million to settle the class-action lawsuit accusing Facebook gave third parties access to user data without their consent.</li>
<li>It is the &quot;largest recovery ever achieved in a data privacy class action, and the most Facebook has ever paid to resolve a private class action,&quot; Keller Rohrback, the law firm representing the plaintiffs, said in a court filing.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/22/12/30182517/ftx-asks-judge-to-halt-blockfi-claim-to-sam-bankman-frieds-robinhood-shares" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">FTX Asks Judge To Halt BlockFi Claim To Sam Bankman-Fried&#39;s Robinhood Shares</a>
<ul>
<li>Beleaguered cryptocurrency exchange&nbsp;FTX&nbsp;is attempting to stop&nbsp;BlockFi&nbsp;from claiming more than $440 million worth of shares of&nbsp;Robinhood Markets Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hood#NASDAQ">HOOD</a>) purchased by&nbsp;Sam Bankman-Fried.</li>
<li>FTX said Alameda Research owns the Robinhood shares in question&nbsp;and that the bankrupt FTX companies must hold on to the stock while other disputed ownership claims are being probed.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/12/30183136/putin-says-he-wants-to-end-this-war-our-goal-is-not-to-spin-the-flywheel-of-military-conflict" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Putin Says He Wants To End This War: &#39;Our Goal Is Not To Spin The Flywheel Of Military Conflict&#39;</a>
<ul>
<li>Russian President&nbsp;Vladimir Putin&nbsp;said he wants to end the war in Ukraine while warning that the U.S. Patriot missile system won&#39;t stand in Moscow&#39;s way to achieving its &quot;goals.&quot;</li>
<li>Putin after Ukrainian President&nbsp;Volodymyr Zelenskyy&nbsp;visited the White House, spoke of ending the Ukraine war and hinted that this would inevitably involve a diplomatic solution.&nbsp;</li>
<li>&quot;Our goal is not to spin the flywheel of military conflict, but, on the contrary, to end this war,&quot; Putin said.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/12/30185179/powerful-winter-storm-gushes-out-holiday-plans-for-several-americans" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Powerful Winter Storm Gushes Out Holiday Plans For Several Americans</a>
<ul>
<li>A powerful Arctic winter storm has placed more than 135 million people under weekend weather alerts ahead of the year&#39;s busiest travel days.</li>
<li>Over 4,400 flights have been canceled over Thursday and Friday as a powerful winter storm hits the U.S., disrupting holiday plans for several Americans, according to flight tracking website FlightAware, while passenger railroad Amtrak canceled dozens of trains through Christmas.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/22/12/30185846/merck-covid-antiviral-does-not-reduce-risk-of-hospitalization-death-rates-in-vaccinated-individua" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Merck COVID Antiviral Does Not Reduce Risk Of Hospitalisation, Death Rates In Vaccinated Individuals</a>
<ul>
<li>According to a large study, dubbed PANORAMIC,&nbsp;Merck &amp; Co Inc&#39;s&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/mrk#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MRK</a>) COVID-19 antiviral molnupiravir speeds up recovery but does not reduce the hospitalization or death rate in higher-risk vaccinated adults.</li>
<li>The study was conducted when the Omicron variant was dominant and compared the oral pill against standard treatment alone in people over 50 or those aged 18 and older with underlying conditions.&nbsp;</li>
</ul>
&nbsp;
Wall Street Journal
<a class="editor-rtfLink" href="https://www.benzinga.com/general/entertainment/22/12/30185024/microsoft-files-rebuttal-to-ftcs-lawsuit-against-activision-deal" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Microsoft Files Rebuttal To FTC&#39;s Lawsuit Against Activision Deal</a>
<ul>
<li>Microsoft Corp&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) has rebutted a Federal Trade Commission lawsuit to block its acquisition of&nbsp;Activision Blizzard Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/atvi#NASDAQ">ATVI</a>) for $75 billion.</li>
<li>The software giant has filed a rebuttal saying the acquisition will not hamper competition in the video gaming industry since it is neither a top console company nor a software developer.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/12/30174861/youtube-beats-apple-to-nfl-sunday-ticket-deal-heres-how-much-theyre-paying-and-why-its-important" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">YouTube Beats Apple To NFL Sunday Ticket Deal: Here&#39;s How Much They&#39;re Paying And Why It&#39;s Important</a>
<ul>
<li>The National Football League is turning to a streaming company for the NFL Sunday Ticket rights. Here&#39;s the latest on the rights to premium National Football League content.</li>
<li>Alphabet Inc&nbsp;GOOG GOOGL-owned YouTube has won the rights to NFL Sunday Ticket, beating out a list of competitors for the highly coveted sports rights.</li>
</ul>
&nbsp;
CNBC
<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/22/12/30184893/united-airlines-pilot-union-leader-resigns-over-controversial-comments" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">United Airlines Pilot Union Leader Resigns Over Controversial Comments</a>
<ul>
<li>United Airlines Holdings Inc&#39;s&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/ual#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">UAL</a>) Chicago-based pilot, Neil Swindells, elected to lead the United Airlines pilots&#39; union, has resigned after a series of his recent online posts sparked an outcry.</li>
<li>Swindells apologized &quot;to anyone I have offended.&quot;</li>
<li>In his resignation note, he said, &quot;while many of these things have been taken completely out of context and publicly weaponized against me.&quot;</li>
</ul>
&nbsp;
Bloomberg
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/12/30185342/nestle-cfo-warns-of-tough-first-half-in-2023-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Nestle CFO Warns Of Tough First Half In 2023</a>
<ul>
<li>Nestle ADR&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/nsrgy#OTC">NSRGY</a>) Chief Financial Officer Francois-Xavier Roger said the first six months of 2023 will be challenging.</li>
<li>Nestle&#39;s CFO expects inflation to retreat in the second half of the year.</li>
<li>&quot;We are likely going to go into recession &mdash; we know that the next six months are probably going to be complicated and difficult,&quot; Roger said in an interview.</li>
</ul>
&nbsp;
Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/general/22/12/30176880/death-by-blanket-target-recalls-childrens-weighted-blankets" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Death By Blanket? Target Recalls Children&#39;s Weighted Blankets</a>
<ul>
<li>Target Corporation&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tgt#NYSE">TGT</a>) has recalled about 204,000 Pillowfort Weighted Blankets.</li>
<li>It posed a risk where a young child could become entrapped by unzipping and entering the blanket, posing a risk of death by asphyxiation.</li>
<li>A 4-year-old girl and a 6-year-old girl reportedly became entrapped in the cover of the weighted blanket and died due to asphyxia at Camp Lejeune, North Carolina, in April 2022.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/12/30184315/stellantis-eyes-stake-in-hydrogen-mobility-company-symbio" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Stellantis Eyes Stake In Hydrogen Mobility Company Symbio</a>
<ul>
<li>Stellantis NV&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/stla#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">STLA</a>) has initiated exclusive negotiations with&nbsp;Faurecia&nbsp;to acquire a substantial stake in&nbsp;Symbio, a hydrogen mobility company.</li>
<li>Symbio, a Faurecia &amp;&nbsp;Michelin&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/mgddy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MGDDY</a>) joint venture, is a Stellantis partner in deploying a hydrogen-powered light commercial vehicle program.</li>
<li>The move is a part of its Dare Forward 2030 strategic plan,&nbsp;which includes expanding its hydrogen offering to large vans as early as 2024 in Europe and 2025 in the U.S.</li>
</ul>

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Meta Settles Cambridge Analytica Scandal Case, Microsoft Files Rebuttal To FTC's Lawsuit Against Activision Deal, US Winter Storm Snaps Holiday Plans: Today's Top Stories

<ul>
<li>Stellantis NV&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stla#NYSE">STLA</a>) has initiated exclusive negotiations with&nbsp;Faurecia&nbsp;to&nbsp;<a class="editor-rtfLink" href="http://www.stellantis.com/en/news/press-releases/2022/december/stellantis-plans-to-acquire-stake-in-symbio-a-faurecia-michelin-hydrogen-company-and-leader-in-fuel-cell-technologies-for-mobility-industry" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">acquire a substantial stake in&nbsp;Symbio</a>, a hydrogen mobility company.</li>
<li>Symbio, a Faurecia &amp;&nbsp;Michelin&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/mgddy#OTC">MGDDY</a>) joint venture, is a Stellantis partner in deploying hydrogen-powered light commercial vehicle program.</li>
<li>The move is a part of its Dare Forward 2030 strategic plan,&nbsp;which includes expanding its hydrogen offering to large vans as early as 2024 in Europe and 2025 in the U.S.</li>
<li>In October 2022, Symbio announced its HyMotive project, which will increase its total production capacity in France to 100,000 systems per year by 2028.</li>
<li>Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/12/30073809/stellantis-recalls-over-1m-trucks-on-faulty-tailgate-issue" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Stellantis Recalls Over 1M Trucks On Faulty Tailgate Issue</a></li>
<li>The transaction will enable Symbio to expand its development by capitalizing on Stellantis&#39; leadership in the European and American automotive markets.</li>
<li>&quot;Symbio&#39;s technical roadmap perfectly matches with Stellantis&#39; hydrogen roll-out plans in Europe and in the U.S.,&quot; said Stellantis CEO Carlos Tavares.</li>
<li>&quot;This move will foster the speed of development to bring low emission products to our customers, beyond traditional electric vehicles.&quot;</li>
<li>The company expects the transaction&#39;s closing to occur in the first semester of 2023.</li>
<li>Also See:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/22/12/30020057/workers-at-general-motors-lg-energy-owned-ohio-battery-plant-vote-favoring-unionization" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Workers At General Motors-LG Energy Owned Ohio Battery Plant Vote Favoring Unionization</a></li>
<li>Price Action:&nbsp;STLA shares are trading higher by 0.58% at $13.96 on the last check Friday.</li>
<li>Photo Via Company</li>
</ul>

Stellantis Eyes Stake In Hydrogen Mobility Company Symbio

On Tuesday, shares of Michelin (cgde) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mgddy#OTC">MGDDY</a>) experienced volatile short activity. After the activity, the stock price went up +0.37% to $13.66.
The overall sentiment for MGDDY has been Bearish.
The signal from the volatility alert is trending Bearish. Therefore, the recommendation is to Increase Short Exposure.
The volatility alert was produced on the prior trading date, 12/20/2022 with a volatility change of +122.18%. The current volatility indicator stands at 9.731.
Overview: 
The securities lending volatility indicator is produced by Tidal Markets, in partnership with Benzinga Insights. Securities lending primarily serves the purpose of providing liquidity to short sellers. When unusual activity occurs in the securities lending markets, it acts as an upstream indicator to what is likely to occur downstream in the regular stock market.
Understanding the Volatility Alert: 
Overall sentiment is considered &quot;bear&quot; when broad market activity of the stock has been shown to indicate a negative directional basis, or is considered &quot;bull&quot; when indicating a positive directional basis. The securities lending volatility indicator provides a signal when it detects unusual short activity. Unusual short activity is based off a computer generated algorithmic formula utilizing securities lending trade details such as the volume of shares being shorted, the rate being paid to short the shares, and the type of collateral being posted - amongst other variables. The current volatility is the respective trading day&#39;s calculated securities lending volatility value. The volatility percentage change is the percentage difference in volatility between the two most recent days. The recommendation is a suggestive strategy, inferred from the strength of the Signal Trending, Current Volatility, and Volatility % Change. Recommendations may include, &quot;Strong Buy&quot;, &quot;Strong Sell&quot;, &quot;Increase Short Exposure&quot;, &quot;Decrease Short Exposure&quot;, or &quot;Market Neutral&quot;.
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What if your car or truck could ditch expensive and unsafe rubber tires and embrace a non-pneumatic wheel with in-built suspension?
That&rsquo;s what Phoenix-based Global Air Cylinder Wheels (GACW) is thinking about, at least in the long term.
While the startup company states it is currently blazing a trail with its innovative non-pneumatic Air Suspension Wheel (ASW) by offering an alternative to the expensive and environmentally unfriendly rubber tire for heavy industry vehicles, it is also looking further afield than that.
The company sees the potential for its ASW across the entire existing tire market, valued at $322 billion in 2022 globally and with an estimated compound annual growth rate (CAGR) of 8.4%. The ASW is an airless, mechanical wheel composed mainly of steel that is designed to last the lifetime of the vehicle it is attached to and which is completely recyclable.
Instead of only focusing on the off-the-road (OTR) <a href="https://www.benzinga.com/money/best-sectors-to-invest-in-right-now/">sector</a> where its ASW can be used with giant vehicles employed in such industries as mining, what if the product can be adapted for use by more regular over-the-road traffic? Think Volvo Group (NASDAQ Stockholm: VOLV B) or Daimler (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ddaif#OTC">DDAIF</a>) trucks. Even on a Tesla Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) or Ford Motor Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/f#NYSE">F</a>) vehicle?
&ldquo;ASW technology can be applied to all verticals where traditional rubber tires are used, and this market is immense,&rdquo; GACW says. The company has already entered a project agreement with an unnamed global over-the-road rim manufacturer for ASW testing in commercial trucks and cars, it adds. 
<h2>Current Versus Future Focus?</h2>
The push for the ASW is all about safety, cost and the environment.&nbsp;
Rubber tires, especially in the OTR <a href="https://www.benzinga.com/money/best-sectors-to-invest-in-right-now/">sector</a>, can be prone to possible explosion and have short lifetimes on such vehicles, making them a very expensive proposition. One such tire can cost up to $75,000 and lasts only 6 to 9 months on average, GACW says.
In addition, there is a poor record of recycling such tires with an estimated 81% of tires being disposed of on-site, contributing to up to 28% of the world&rsquo;s microplastic waste, GACW says.
For now, the focus will remain on the OTR <a href="https://www.benzinga.com/money/best-sectors-to-invest-in-right-now/">sector</a> as the company seeks to ramp up production and have more testing in the field, with full commercialization predicted for 2023. That is a $30 billion market on its own, and the company says it has no direct competitors other than the manufacturers of rubber tires such as Bridgestone Corp. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/brdcy#OTC">BRDCY</a>) and Michelin (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mgddy#OTC">MGDDY</a>).
It does have several competitors in the mid-sized non-pneumatic market, including Michelin and Bridgestone. The over-the-road market would be largely uncharted territory.
Check out the current <a href="https://www.startengine.com/gacw?utm_source=benzinga&amp;utm_medium=sponsored-article&amp;utm_campaign=se-promote-gacw&amp;utm_content=article3">crowdfunding initiative </a>with StartEngine to get involved.&nbsp;
The preceding post was written and/or published as a collaboration between Benzinga&rsquo;s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. Benzinga may receive monetary compensation from the issuer, or its agency, for publicizing the offering of the issuer&rsquo;s securities. This content is for informational purposes only and is not intended to be investing advice. This is a paid ad. Please see 17b disclosure linked in the campaign page for more information.
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Image provided by GACW

Emerging Markets

DDAIF

TSLA

The End Of Tires As We Know Them?

Intraday Update

Movers

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ARCH BIOPARTNERS INC ORD by Arch Biopartners Inc.

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ALTERNATE HEALTH CORP ORD by Alternate Health Corp.

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Stocks That Hit 52-Week Highs On Tuesday

Former Nissan Motor Co Ltd (OTC: <a class="ticker" href="https://www.benzinga.com/stock/nsanf#OTC">NSANF</a>) chairman Carlos Ghosn has fled Japan, where he was facing financial crimes charges, and is now in his home country of Lebanon.
In a statement released by Ghosn to media outlets, the 65-year-old former executive said he would &quot;no longer be held hostage by a rigged Japanese justice system where guilt is presumed, discrimination is rampant, and basic human rights are denied.&quot;
Ghosn had been set to stand trial this coming year in Japan <a href="https://www.benzinga.com/news/18/11/12722625/renault-nissan-mitsubishi-chairman-arrested-on-trading-violations">after being accused</a> of underreporting his income and shifting personal financial losses to Nissan&#39;s books. The company was accused of involvement in the alleged scheme.
<h3>What Happened</h3>
Ghosn had been jailed in Japan, but was out on bail. He was supposed to be prohibited from leaving Tokyo while out on bail, and under monitoring.
Details about how he left were still murky on Tuesday; Ghosn had to surrender his passport last year to Japanese officials.
Reports in Lebanese media suggested Ghosn escaped in some sort of freight box for musical instruments that was flown out of the country.
<blockquote class="twitter-tweet">Lebanese news outlets saying Carlos Ghosn was smuggled out of Japan in a box designed for transporting musical instruments, this story is incredible <a href="https://t.co/5hxGBUSZhY">https://t.co/5hxGBUSZhY</a>
&mdash; Tom Gara (@tomgara) <a href="https://twitter.com/tomgara/status/1211868223764934656?ref_src=twsrc%5Etfw">December 31, 2019</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>The Wall Street Journal reported Ghosn arrived in his native Lebanon on a flight from Turkey. Lebanon has no extradition treaty with Japan.
<h3>Alleges Political Persecution</h3>
&ldquo;I have not fled justice &mdash; I have escaped injustice and political persecution,&rdquo; Ghosn&#39;s statement read. &ldquo;I can now finally communicate freely with the media, and look forward to starting next week.&rdquo;
Ghosn&#39;s lawyers have complained that they haven&#39;t been able to adequately inspect information prosecutors in Japan had planned to use against him.
Ghosn rose to prominence in the auto industry in a nearly two-decade career at French tire maker Michelin Compag/ADR (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mgddy#OTC">MGDDY</a>) before joining automaker Renault S A/ADR (OTC: <a class="ticker" href="https://www.benzinga.com/stock/rnlsy#OTC">RNLSY</a>) in the mid-1990s as an executive vice president.
Ghosn was seen as the main architect of Renault&#39;s alliance with Nissan, where he was sent to cut costs. Since his arrest, he has been removed as chairman of Renault and Nissan.
Related Links:
<a href="https://www.benzinga.com/news/18/11/12722625/renault-nissan-mitsubishi-chairman-arrested-on-trading-violations">Renault-Nissan-Mitsubishi Chairman Arrested On Trading Violations</a>
<a href="https://www.benzinga.com/news/earnings/19/11/14829416/nissans-nightmare-isnt-over-yet">Nissan&#39;s Nightmare Isn&#39;t Over Yet</a>
Photo credit: <a href="https://upload.wikimedia.org/wikipedia/commons/f/f0/Emerging_Economies_at_a_Crossroads_Carlos_Ghosn_%288414704596%29.jpg">World Economic Forum from Cologny, Switzerland</a>, via Wikimedia

NSANF

RNLSY

Former Nissan Chair Ghosn Flees Japan In Box, Turns Up In Lebanon

<h3 id="upgrades">Upgrades</h3>
<ul>
<li>For Carolina Financial Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/caro#NASDAQ">CARO</a>), Raymond James upgraded the stock from Outperform to Strong Buy. Carolina Financial earned $0.73 in the second quarter, compared to $0.73 in the year-ago quarter. The current market cap for Carolina Financial is at $782.5 million. The stock has a 52-week-high of $42.00 and a 52-week-low of $27.62. Carolina Financial&#39;s stock last closed at $33.24 per share.</li>
<li>For Ciena Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cien#NYSE">CIEN</a>), Rosenblatt upgraded the stock from Neutral to Buy. For the second quarter, Ciena had an EPS of $0.48, compared to year-ago quarter EPS of $0.23. The current market cap for Ciena is at $6.3 billion. The stock has a 52-week-high of $46.78 and a 52-week-low of $27.21. Ciena&#39;s stock last closed at $39.99 per share.</li>
<li>For East West Bancorp Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ewbc#NASDAQ">EWBC</a>), Raymond James upgraded the stock from Underperform to Market Perform. East West Bancorp earned $1.24 in the second quarter, compared to $1.18 in the year-ago quarter. The total market value of East West Bancorp&#39;s outstanding shares is at $5.8 billion. The stock has a 52-week-high of $64.34 and a 52-week-low of $37.69. East West Bancorp&#39;s stock last closed at $38.92 per share.</li>
<li>Raymond James upgraded the stock for First Horizon National Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fhn#NYSE">FHN</a>) from Market Perform to Outperform. For the second quarter, First Horizon National had an EPS of $0.42, compared to year-ago quarter EPS of $0.36. The current market cap for First Horizon National is at $2.9 billion. The stock has a 52-week-high of $18.68 and a 52-week-low of $12.30. First Horizon National&#39;s stock last closed at $15.49 per share.</li>
<li>Raymond James upgraded the stock for Hilltop Holdings Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hth#NYSE">HTH</a>) from Market Perform to Outperform. Hilltop Holdings earned $0.62 in the second quarter, compared to $0.35 in the year-ago quarter. Hilltop Holdings&#39;s market cap stands at $2.4 billion. The stock has a 52-week-high of $23.58 and a 52-week-low of $16.43. Hilltop Holdings&#39;s stock last closed at $22.76 per share.</li>
<li>Sidoti &amp; Co. upgraded the stock for iRobot Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/irbt#NASDAQ">IRBT</a>) from Neutral to Buy. In the second quarter, iRobot showed an EPS of $0.48, compared to $0.37 from the year-ago quarter. The total market value of iRobot&#39;s outstanding shares is at $2.9 billion. The stock has a 52-week-high of $132.88 and a 52-week-low of $59.92. iRobot&#39;s stock last closed at $61.42 per share.</li>
<li>Citigroup upgraded the stock for Jabil Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jbl#NYSE">JBL</a>) from Sell to Buy. Jabil earned $0.57 in the third quarter, compared to $0.46 in the year-ago quarter. The total market value of Jabil&#39;s outstanding shares is at $4.2 billion. The stock has a 52-week-high of $32.24 and a 52-week-low of $21.49. Jabil&#39;s stock last closed at $26.16 per share.</li>
<li>KeyBanc changed the rating for NextGen Healthcare Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nxgn#NASDAQ">NXGN</a>) from Underweight to Sector Weight. NextGen Healthcare earned $0.16 in the first quarter, compared to $1.00 in the year-ago quarter. The current market cap for NextGen Healthcare is at $1.2 billion. The stock has a 52-week-high of $23.17 and a 52-week-low of $13.60. NextGen Healthcare&#39;s stock last closed at $14.16 per share.</li>
<li>For OceanFirst Financial Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ocfc#NASDAQ">OCFC</a>), Raymond James upgraded the stock from Outperform to Strong Buy. For the second quarter, OceanFirst Financial had an EPS of $0.51, compared to year-ago quarter EPS of $0.46. The stock has a 52-week-high of $29.53 and a 52-week-low of $20.46. OceanFirst Financial&#39;s stock last closed at $20.82 per share.</li>
</ul>
&nbsp;
<h3 id="downgrades">Downgrades</h3>
<ul>
<li>Raymond James changed the rating for Bank of America Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bac#NYSE">BAC</a>) from Outperform to Market Perform. For the second quarter, Bank of America had an EPS of $0.74, compared to year-ago quarter EPS of $0.63. Bank of America&#39;s market cap stands at $261.3 billion. The stock has a 52-week-high of $31.41 and a 52-week-low of $22.66. Bank of America&#39;s stock last closed at $26.85 per share.</li>
<li>Raymond James downgraded the stock for Business First Bancshares Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bfst#NASDAQ">BFST</a>) from Outperform to Market Perform. Business First Bancshares earned $0.48 in the second quarter, compared to $0.37 in the year-ago quarter. The total market value of Business First Bancshares&#39;s outstanding shares is at $304.8 million. The stock has a 52-week-high of $27.40 and a 52-week-low of $20.64. Business First Bancshares&#39;s stock last closed at $23.50 per share.</li>
<li>First Analysis downgraded the stock for Box Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/box#NYSE">BOX</a>) from Outperform to Neutral. For the second quarter, Box had an EPS of $0.00, compared to year-ago quarter EPS of ($0.05). The stock has a 52-week-high of $27.08 and a 52-week-low of $12.76. Box&#39;s stock last closed at $13.84 per share.</li>
<li>Craig-Hallum downgraded the stock for Box Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/box#NYSE">BOX</a>) from Buy to Hold. Box earned $0.00 in the second quarter, compared to ($0.05) in the year-ago quarter. The stock has a 52-week-high of $27.08 and a 52-week-low of $12.76. Box&#39;s stock last closed at $13.84 per share.</li>
<li>For Cadence Bancorp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cade#NYSE">CADE</a>), Raymond James downgraded the stock from Strong Buy to Outperform. Cadence Bancorp earned $0.40 in the second quarter, compared to $0.57 in the year-ago quarter. Cadence Bancorp&#39;s market cap stands at $2.9 billion. The stock has a 52-week-high of $28.62 and a 52-week-low of $14.66. Cadence Bancorp&#39;s stock last closed at $15.16 per share.</li>
<li>RBC Capital downgraded the stock for Casey&#39;s General Stores Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/casy#NASDAQ">CASY</a>) from Sector Perform to Underperform. Casey&#39;s General Stores earned $0.68 in the fourth quarter, compared to $0.51 in the year-ago quarter. The total market value of Casey&#39;s General Stores&#39;s outstanding shares is at $5.9 billion. The stock has a 52-week-high of $173.31 and a 52-week-low of $112.16. Casey&#39;s General Stores&#39;s stock last closed at $170.56 per share.</li>
<li>For G-III Apparel Group Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/giii#NASDAQ">GIII</a>), Stifel Nicolaus downgraded the stock from Buy to Hold. G-III Apparel Group earned $0.25 in the first quarter, compared to $0.22 in the year-ago quarter. G-III Apparel Group&#39;s market cap stands at $1.2 billion. The stock has a 52-week-high of $50.83 and a 52-week-low of $19.43. G-III Apparel Group&#39;s stock last closed at $20.25 per share.</li>
<li>Citigroup downgraded the stock for Cie Generale des Etablissements Michelin SA (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mgddy#OTC">MGDDY</a>) from Buy to Neutral. The total market value of Michelin&#39;s outstanding shares is at $13.2 billion. The stock has a 52-week-high of $26.71 and a 52-week-low of $18.81. Michelin&#39;s stock last closed at $20.08 per share.</li>
<li>Cowen &amp; Co. downgraded the stock for Movado Group Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mov#NYSE">MOV</a>) from Outperform to Market Perform. Movado Group earned $0.36 in the second quarter, compared to $0.45 in the year-ago quarter. The stock has a 52-week-high of $49.77 and a 52-week-low of $18.78. Movado Group&#39;s stock last closed at $21.22 per share.</li>
<li>For Origin Bancorp Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/obnk#NASDAQ">OBNK</a>), Raymond James downgraded the stock from Strong Buy to Outperform. In the second quarter, Origin Bancorp showed an EPS of $0.52, compared to $0.53 from the year-ago quarter. The total market value of Origin Bancorp&#39;s outstanding shares is at $856.3 million. The stock has a 52-week-high of $41.79 and a 52-week-low of $27.41. Origin Bancorp&#39;s stock last closed at $31.93 per share.</li>
</ul>
&nbsp;
<h3 id="top-initiations">Initiations</h3>
<ul>
<li>Piper Jaffray initiated coverage on Blueprint Medicines Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bpmc#NASDAQ">BPMC</a>) with a Neutral rating. The price target for Blueprint Medicines is set at $85.00. In the second quarter, Blueprint Medicines showed an EPS of ($2.04), compared to ($0.62) from the year-ago quarter. The current market cap for Blueprint Medicines is at $487.4 million. The stock has a 52-week-high of $102.98 and a 52-week-low of $44.58. Blueprint Medicines&#39;s stock last closed at $78.24 per share.</li>
<li>With a rating of Hold, Summit Insights Group initiated coverage on CrowdStrike Holdings Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crwd#NASDAQ">CRWD</a>). The price target is set at $75.00 for CrowdStrike Holdings. For the first quarter, CrowdStrike Holdings had an EPS of ($0.47), compared to year-ago quarter EPS of ($0.73). CrowdStrike Holdings&#39;s market cap stands at $18.2 billion. The stock has a 52-week-high of $101.88 and a 52-week-low of $56.00. CrowdStrike Holdings&#39;s stock last closed at $86.99 per share.</li>
<li>With a rating of Outperform, Barrington Research initiated coverage on Commercial Vehicle Group Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cvgi#NASDAQ">CVGI</a>). The price target is set at $7.50 for Commercial Vehicle Group. For the second quarter, Commercial Vehicle Group had an EPS of $0.23, compared to year-ago quarter EPS of $0.43. Commercial Vehicle Group&#39;s market cap stands at $250.5 million. The stock has a 52-week-high of $10.28 and a 52-week-low of $5.35. Commercial Vehicle Group&#39;s stock last closed at $6.19 per share.</li>
<li>Oppenheimer initiated coverage on Dova Pharmaceuticals Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dova#NASDAQ">DOVA</a>) with an Outperform rating. The price target for Dova Pharmaceuticals is set at $30.00. In the second quarter, Dova Pharmaceuticals showed an EPS of ($0.60), compared to ($0.69) from the year-ago quarter. The current market cap for Dova Pharmaceuticals is at $843.4 million. The stock has a 52-week-high of $26.49 and a 52-week-low of $5.62. Dova Pharmaceuticals&#39;s stock last closed at $15.16 per share.</li>
<li>DA Davidson initiated coverage on Exponent Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/expo#NASDAQ">EXPO</a>) with a Neutral rating. Exponent earned $0.39 in the second quarter, compared to $0.34 in the year-ago quarter. The current market cap for Exponent is at $1.0 billion. The stock has a 52-week-high of $72.15 and a 52-week-low of $44.44. Exponent&#39;s stock last closed at $70.51 per share.</li>
<li>Alliance Global Partners initiated coverage on Itamar Medical Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/itmr#NASDAQ">ITMR</a>) with a Buy rating. The stock has a 52-week-high of $14.00 and a 52-week-low of $8.27. Itamar Medical&#39;s stock last closed at $8.80 per share.</li>
<li>Argus Research initiated coverage on MarketAxess Holdings Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mktx#NASDAQ">MKTX</a>) with a Hold rating. MarketAxess Holdings earned $1.27 in the second quarter, compared to $1.07 in the year-ago quarter. MarketAxess Holdings&#39;s market cap stands at $12.8 billion. The stock has a 52-week-high of $408.37 and a 52-week-low of $172.09. MarketAxess Holdings&#39;s stock last closed at $404.46 per share.</li>
<li>Loop Capital initiated coverage on NXP Semiconductors NV (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nxpi#NASDAQ">NXPI</a>) with a Buy rating. The price target for NXP Semiconductors is set at $118.00. For the second quarter, NXP Semiconductors had an EPS of $1.91, compared to year-ago quarter EPS of $1.50. NXP Semiconductors&#39;s market cap stands at $27.0 billion. The stock has a 52-week-high of $108.51 and a 52-week-low of $67.62. NXP Semiconductors&#39;s stock last closed at $100.28 per share.</li>
<li>Janney Capital initiated coverage on Owl Rock Capital Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/orcc#NYSE">ORCC</a>) with a Neutral rating. The price target for Owl Rock Capital is set at $16.00. The stock has a 52-week-high of $16.45 and a 52-week-low of $15.02. Owl Rock Capital&#39;s stock last closed at $15.96 per share.</li>
<li>With a rating of Buy, H.C. Wainwright initiated coverage on Otonomy Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/otic#NASDAQ">OTIC</a>). The price target is set at $8.00 for Otonomy. For the second quarter, Otonomy had an EPS of ($0.38), compared to year-ago quarter EPS of ($0.44). The total market value of Otonomy&#39;s outstanding shares is at $75.9 million. The stock has a 52-week-high of $3.20 and a 52-week-low of $1.50. Otonomy&#39;s stock last closed at $2.16 per share.</li>
</ul>

Upgrades

Downgrades

Initiation

Analyst Ratings

BFST

BPMC

CADE

CARO

CASY

CIEN

CRWD

CVGI

DOVA

EWBC

EXPO

GIII

IRBT

ITMR

MKTX

NXGN

NXPI

OBNK

OCFC

ORCC

OTIC

Benzinga's Top Upgrades, Downgrades For August 29, 2019

Citigroup downgrades Michelin (OTC:<a class="ticker" href="/stock/MGDDY#OTC">MGDDY</a>) from Buy to Neutral.

Citigroup Downgrades Michelin to Neutral

<a href="https://www.benzinga.com/topic/robinhood">Robinhood</a> is making some&nbsp;250 notable foreign stocks available for trading on its commission-free platform.
<h3>What Happened</h3>
Companies like Tencent Holding/ADR (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tcehy#OTC">TCEHY</a>), Burberry Group plc (OTC: <a class="ticker" href="https://www.benzinga.com/stock/burby#OTC">BURBY</a>), Heineken N.V. (ADR) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/heiny#OTC">HEINY</a>), BMW, Nintendo Ltd/Adr (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ntdoy#OTC">NTDOY</a>) and adidas AG (ADR) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/addyy#OTC">ADDYY</a>) will be added in what Robinhood said is the biggest addition of new securities since the app launched three years ago.
&quot;We looked at what customers were searching for and not getting,&quot; Robinhood co-founder and CEO Vlad Tenev <a href="https://www.cnbc.com/2018/08/28/robinhood-adds-hundreds-of-new-stocks-to-its-trading-app.html">told CNBC</a>. &quot;It allows customers to get some exposure outside of the U.S.&quot;
<h3>Why It&#39;s Important</h3>
The 250 equities&nbsp;that will be added have appeared in over 300,000 Robinhood searches to date, with Tencent appearing in 63,000 searches, followed by Nintendo with 34,000 and Adidas with 29,000, according to the trading platform.
Robinhood made a similar move when it added cryptocurrency trading on the platform after customers began searching for bitcoin.
&quot;Our strategy has always been listen to the customer, and work on building new products to make their lives easier,&quot; Tenev said.
<h3>What&#39;s Next</h3>
In the coming months, French ADRs will be added to Robinhood, including UBISOFT Entmt S/ADR (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ubsfy#OTC">UBSFY</a>), LVMH Moet Hennessy Louis Vuitton SA Unsponsored ADR (OTC: <a class="ticker" href="https://www.benzinga.com/stock/lvmuy#OTC">LVMUY</a>) and Michelin COMPAG/ADR (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mgddy#OTC">MGDDY</a>).
The move comes as competition in the brokerage space is starting to heat up after JPMorgan Chase &amp; Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jpm#NYSE">JPM</a>) announced its own <a href="https://www.benzinga.com/fintech/18/08/12237534/brokerage-stocks-crushed-as-jpmorgan-rolls-out-digital-service-with-free-trad">commission-free trading platform.</a>
Related Links:
<a href="https://www.benzinga.com/fintech/18/06/11883096/robinhood-launches-commission-free-multileg-options-trading">Robinhood Launches Commission-Free, Multileg Options Trading</a>
<a href="https://www.benzinga.com/investing/best-online-brokerage/">Best Online Stock Trading Brokerages</a>
Photo courtesy of Robinhood.

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