La catena delle opzioni mostra i dati chiave delle opzioni azionarie di Worthington Enterprises a vari prezzi di esercizio e date di scadenza. I trader utilizzano queste informazioni per analizzare potenziali operazioni e valutare il sentiment del mercato per Worthington Enterprises..

Worthington Enterprises (NYSE:WOR) Azioni, Catena delle Opzioni

Worthington Enterprises

Worthington Industries

Worthington Enterprises Inc is a designer and manufacturer of products sold to consumers, through retail channels, in the tools, outdoor living and celebrations market categories as well as a wide array of specialized building products that serve customers in the residential and non-residential construction markets, including ceiling suspension systems and light gauge metal framing products, as well as wholly-owned and consolidated operations that produce pressurized containment solutions for heating, cooking and cooling applications, among others. It operates under two reportable operating segments: Consumer Products and Building Products. It derives majority of the revenue from Building Products segment.

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It was revealed in a recent SEC filing that Joseph B Hayek, EVP and CFO at Worthington Enterprises (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOR#NYSE">WOR</a>) made a noteworthy insider purchase on October 15,.
What Happened: A Form 4 filing from the <a href="https://www.sec.gov/Archives/edgar/data/0000108516/000095017024114474//Archives/edgar/data/108516/000095017024114474/0000950170-24-114474-index.htm">U.S. Securities and Exchange Commission</a> on Tuesday showed that Hayek purchased 2,500 shares of Worthington Enterprises. The total transaction amounted to $100,525. 
The latest update on Wednesday morning shows Worthington Enterprises shares down by 0.0%, trading at $40.31.
<h3>Discovering Worthington Enterprises: A Closer Look</h3>
Worthington Enterprises Inc is a designer and manufacturer of products sold to consumers, through retail channels, in the tools, outdoor living and celebrations market categories as well as a wide array of specialized building products that serve customers in the residential and non-residential construction markets, including ceiling suspension systems and light gauge metal framing products, as well as wholly-owned and consolidated operations that produce pressurized containment solutions for heating, cooking and cooling applications, among others. It operates under two reportable operating segments: Consumer Products and Building Products. It derives majority of the revenue from Building Products segment.
<h3>Worthington Enterprises: Delving into Financials</h3>
Revenue Growth: Worthington Enterprises's revenue growth over a period of 3 months has faced challenges. As of 31 August, 2024, the company experienced a revenue decline of approximately -17.51%. This indicates a decrease in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Consumer Discretionary sector.
Profitability Metrics:
<ul>
<li>
Gross Margin: The company issues a cost efficiency warning with a low gross margin of 24.29%, indicating potential difficulties in maintaining profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): Worthington Enterprises's EPS lags behind the industry average, indicating concerns and potential challenges with a current EPS of 0.49.
</li>
</ul>
Debt Management: Worthington Enterprises's debt-to-equity ratio is below the industry average. With a ratio of 0.36, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
Evaluating Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: The current Price to Earnings ratio of 62.98 is higher than the industry average, indicating the stock is priced at a premium level according to the market sentiment.
</li>
<li>
Price to Sales (P/S) Ratio: The current P/S ratio of 1.71 is above industry norms, reflecting an elevated valuation for Worthington Enterprises's stock and potential overvaluation based on sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): A high EV/EBITDA ratio of 16.2 reflects market recognition of Worthington Enterprises's value, positioning it as more highly valued compared to industry peers.
</li>
</ul>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
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<h3>Uncovering the Importance of Insider Activity</h3>
While insider transactions provide valuable information, they should be part of a broader analysis in making investment decisions.
When discussing legal matters, the term "insider" refers to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as stipulated in Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and significant hedge funds. Such insiders are required to report their transactions through a Form 4 filing, which must be completed within two business days of the transaction.
A new purchase by a company insider is a indication that they anticipate the stock will rise.
On the other hand, insider sells may not necessarily indicate a bearish view and can be motivated by various factors.
<h3>Deciphering Transaction Codes in Insider Filings</h3>
When dissecting transactions, the focal point for <a href="https://www.benzinga.com/money/investing-tools">investors</a> is often those occurring in the open market, meticulously detailed in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C indicates the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000108516">Check Out The Full List Of Worthington Enterprises's Insider Trades.</a>
Insider Buying Alert: Profit from C-Suite Moves
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

News

Insider Trades

Trading Ideas

Worthington Enterprises Insider Trades SendAa Signal

On October 15, a substantial insider purchase was made by Joseph B Hayek, EVP and CFO at Worthington Enterprises (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOR#NYSE">WOR</a>), as per the latest SEC filing.
What Happened: A Form 4 filing from the <a href="https://www.sec.gov/Archives/edgar/data/0000108516/000095017024114474//Archives/edgar/data/108516/000095017024114474/0000950170-24-114474-index.htm">U.S. Securities and Exchange Commission</a> on Tuesday showed that Hayek purchased 2,500 shares of Worthington Enterprises. The total transaction amounted to $100,525. 
In the Tuesday's morning session, Worthington Enterprises's shares are currently trading at $40.7, experiencing a up of 0.87%.
<h3>Unveiling the Story Behind Worthington Enterprises</h3>
Worthington Enterprises Inc is a designer and manufacturer of products sold to consumers, through retail channels, in the tools, outdoor living and celebrations market categories as well as a wide array of specialized building products that serve customers in the residential and non-residential construction markets, including ceiling suspension systems and light gauge metal framing products, as well as wholly-owned and consolidated operations that produce pressurized containment solutions for heating, cooking and cooling applications, among others. It operates under two reportable operating segments: Consumer Products and Building Products. It derives majority of the revenue from Building Products segment.
<h3>Worthington Enterprises's Financial Performance</h3>
Negative Revenue Trend: Examining Worthington Enterprises's financials over 3 months reveals challenges. As of 31 August, 2024, the company experienced a decline of approximately -17.51% in revenue growth, reflecting a decrease in top-line earnings. When compared to others in the Consumer Discretionary sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Holistic Profitability Examination:
<ul>
<li>
Gross Margin: The company faces challenges with a low gross margin of 24.29%, suggesting potential difficulties in cost control and profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): With an EPS below industry norms, Worthington Enterprises exhibits below-average bottom-line performance with a current EPS of 0.49.
</li>
</ul>
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.36.
Valuation Analysis:
<ul>
<li>
Price to Earnings (P/E) Ratio: A higher-than-average P/E ratio of 63.05 suggests caution, as the stock may be overvalued in the eyes of investors.
</li>
<li>
Price to Sales (P/S) Ratio: With a relatively high Price to Sales ratio of 1.71 as compared to the industry average, the stock might be considered overvalued based on sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): With an EV/EBITDA ratio of 16.22, the company's market valuation exceeds industry averages.
</li>
</ul>
Market Capitalization: With restricted market capitalization, the company is positioned below industry averages. This reflects a smaller scale relative to peers.
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<h3>Why Pay Attention to Insider Transactions</h3>
Insider transactions, although significant, should be considered within the larger context of market analysis and trends.
Within the legal framework, an "insider" is defined as any officer, director, or beneficial owner holding more than ten percent of a company's equity securities as per Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are mandated to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
The initiation of a new purchase by a company insider serves as a strong indication that they expect the stock to rise.
However, insider sells may not always signal a bearish view and can be influenced by various factors.
<h3>Unlocking the Meaning of Transaction Codes</h3>
Navigating through the landscape of transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> often prioritize those unfolding in the open market, precisely detailed in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000108516">Check Out The Full List Of Worthington Enterprises's Insider Trades.</a>
Insider Buying Alert: Profit from C-Suite Moves
Benzinga Edge reveals every insider trade in real-time. Don't miss the next big stock move driven by insider confidence. Unlock this ultimate sentiment indicator now. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22in8&amp;utm_source=benzinga-insights">Click here for access</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Positive Signal: Joseph B Hayek Shows Faith, Buying $100K In Worthington Enterprises Stock

Management

Worthington Enterprises Appoints Joseph Hayek As CEO And President

Canaccord Genuity analyst Brian McNamara maintains Worthington Enterprises (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOR#NYSE">WOR</a>) with a Hold and maintains $46 price target.

Price Target

Analyst Ratings

Canaccord Genuity Maintains Hold on Worthington Enterprises, Maintains $46 Price Target

Canaccord Genuity analyst Brian McNamara maintains Worthington Enterprises (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOR#NYSE">WOR</a>) with a Hold and lowers the price target from $52 to $46.

Canaccord Genuity Maintains Hold on Worthington Enterprises, Lowers Price Target to $46

Micron, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) <a href="https://www.benzinga.com/news/earnings/24/09/41034733/micron-q4-earnings-revenue-eps-beat-on-robust-ai-demand-company-sees-significantly-improved-profita">earnings</a> could revitalize the sagging market momentum, with the index futures trading notably higher early Thursday. The risk-on mood was evident across the global markets as China&#8217;s commitment to stimulate the domestic economy encouraged traders. The markets also have several Main Street catalysts to consider, including weekly jobless claims data and inflation measures from the second-quarter GDP report. A slew of Federal Reserve officials are due to make speeches, which could potentially offer clues toward the interest-rate trajectory.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+1.38%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.78%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.47%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.87%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Thursday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) climbed 0.79% to $574.55 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) jumped 1.44% to $492.82, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
U.S. stocks ended Tuesday&#8217;s session on a mixed note, as wary traders either stepped to the sidelines or took some profits off the table ahead of the flurry of data due over the next two days and Micron&#8217;s earnings that came out after the market closed. IT and utility stocks rose, while the remaining 11 sector classes pulled back. Energy and healthcare stocks were among the worst performers of the session.
The Nasdaq Composite ended marginally higher, advancing for a third straight session, while the S&amp;P 500 Index and the Dow Industrials retreated from their record highs.
<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>+0.04%</td>
<td>18,082.21</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>0.19%</td>
<td>5,722.26</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-0.70%</td>
<td>41,914.75</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.17%</td>
<td>2,223.99</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
The market could remain lackadaisical until the election, according to Fund Strat&#8217;s Tom Lee. The Fed rate cut is historically positive three to six months out but what stocks do in the next month is a bit of a coin flip, the strategist <a href="https://x.com/CNBCClosingBell/status/1839029917742219408">said</a> in an interview with CNBC. 
Some repositioning took place and the market is now looking ahead to the election, which is just 40 days away, he said. 
Lee noted that most wealth managers and family offices he spoke to hinted at unwillingness to commit capital until after election day. &#8220;I don't think it matters who wins; It&#8217;s just they want to get that event behind,&#8221; he added.
The strategist said in election years, the November and December rallies are pretty tremendous, and when the gains are over 10% in the first half of the year, the November-December rallies get bigger, he said. &#8220;I am bullish into year-end but I'm a little less confident about how markets behave into election day and not that I think we're going to have a huge drawdown,&#8221; he added. 
&#8220;I also don't think we can make new highs and then see the market blast off after election day. So I'd rather sort of say things look a lot better after election day,&#8221; Lee said.
A Morgan Stanley strategist looked ahead to what&#8217;s in store after the first rate cut in the current monetary policy cycle. Chief Investment Officer, Morgan Stanley Wealth Management, Lisa Shalett said corporate fundamentals will now need to come into sharper focus, though expectations are already ambitious.
Given this backdrop, she advised investors to consider reducing ultra-short and money market positions in favor of locking in longer-dated rates. The equal-weighted S&amp;P 500 Index may provide better risk-adjusted exposure than its market-cap-weighted counterpart, she said. The strategist also flagged financial services, industrials, energy, healthcare and materials, as well as parts of technology such as software as compelling opportunities. Defensive ideas in residential REITs and utilities, and non-U.S. assets also could work in the current environment, she said.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Upcoming Economic Data:
<ul>
<li>The Labor Department is scheduled to release the customary jobless claims data at 8:30 a.m. EDT. Economists, on average, expect the number of individuals claiming unemployment benefits to rise to 223,000 in the week ended Sept. 21, up from 219,000 in the previous week.</li>
<li>The Commerce Department is due to release its durable goods orders report for August at 8:30 a.m. EDT. The consensus estimate calls for a 3% month-over-month drop in durable goods orders compared to a 9.8% jump in the previous month.</li>
<li>The Bureau of Economic Analysis will release the final second-quarter GDP report at 8:30 a.m. EDT. The second-quarter growth is expected to be left unrevised at 3%. </li>
<li>The National Association of Realtors is due to release its pending home sales index for August at 10 a.m. EDT. The consensus estimate is for a 1% month-over-month increase for August, reversing some of the 5.5% drop in the previous month.</li>
</ul>
Fed speeches scheduled for the day include:
<ul>
<li>Fed Governor Adriana Kugler and Boston Fed President Susan Collins at 9:10 a.m. EDT</li>
<li>Fed Governor Michelle Bowman at 9:15 a.m. EDT</li>
<li>Fed Chair Jerome Powell at 9:20 a.m. EDT (at the 2024 U.S. Treasury Market Conference)</li>
<li>New York Fed&nbsp;President John Williams&nbsp;at 9:25 a.m. EDT</li>
<li>&nbsp;Fed Vice Chair for Supervision Michael Barr&nbsp;at 10:30 a.m. EDT</li>
<li>Fed Governor Lisa Cook&nbsp;at 10:30 a.m. EDT</li>
<li>Minneapolis Fed President Neel Kashkari and Barr at 1 p.m. EDT</li>
</ul>
Stocks In Focus:
<ul>
<li>Micron jumped over 15% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following the company&#8217;s quarterly results announcement.</li>
<li>Also moving on earnings are H.B. Fuller Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUL#NYSE">FUL</a>) (down about 9%), Jefferies Financial Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JEF#NYSE">JEF</a>) (down over 5%) and Worthington Enterprises, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOR#NYSE">WOR</a>) (up about 4%.</li>
<li>Accenture plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>), CarMax, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>) and Jabil Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>) are among the companies due to <a href="https://www.benzinga.com/calendars/earnings">announce their financial results before the market opens</a>.</li>
<li>Those reporting after the close include BlackBerry Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BB#NYSE">BB</a>), Vail Resorts, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTN#NYSE">MTN</a>) and Costco Wholesale Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>).</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures fell sharply and have dropped below the $69-a-barrel level, and gold futures pushed higher and are in record territory. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) has gained moderately and is approaching the $64K level. The 10-year Treasury note edged down slightly to 3.772%.
The global markets were in a sea of green, with Hong Kong, China and Japan closing notably higher, as sentiment received a boost from China&#8217;s stimulus announcements. To add to the buoyancy, Bloomberg reported that China is considering injecting up to 1 trillion yuan($142.39 billion) of capital into its biggest state banks to facilitate lending. The European markets also advanced strongly in early trading.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/41040634/analyst-counters-pete-buttigiegs-assertion-that-inflation-went-down-after-bidens-ira-2022-they-are-s">Analyst Counters Pete Buttigieg&#8217;s Assertion That Inflation Went Down After Biden&#8217;s IRA 2022: &#8216;They Are Still Rising And You Don&#8217;t Seem To Care..At All&#8217;</a></li>
</ul>
Image Via Pixabay

Earnings

Equities

Futures

Previews

Economics

Federal Reserve

Pre-Market Outlook

Markets

Movers

$BTC

COST

US Stocks Set For Strong Start, Micron Jumps, China Commits More Stimulus: Strategist Flags 'Tremendous' Gains Near Term

Worthington Enterprises, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOR#NYSE">WOR</a>) shares are trading lower at a premarket on Wednesday after the company reported worse-than-<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g41014521/worthington-enterprises-reports-first-quarter-fiscal-2025-results" rel="noreferrer noopener">expected&nbsp;first-quarter financial results</a>.
On Tuesday, the company reported a&nbsp;net sales decline of 17.5% Y/Y to &nbsp;$257.3 million, missing the consensus of $300.26 million.
The decline was attributed to the deconsolidation of the former Sustainable Energy Solutions (SES) segment in the fourth quarter of FY24 and lower volumes in the Building Products segment.
Adjusted EBITDA from continuing operations fell to $48.4 million from $65.9 million a year ago quarter. Adjusted EPS&nbsp;of $0.50&nbsp;missed <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">the consensus of&nbsp;$0.74</a>.
By segment, Consumer Products&#8217; net sales stood at $117.6 million in the quarter, with adjusted EBITDA coming in at $17.8 million. Meanwhile, Building Products generated net sales of $139.7 million, down 15.8% Y/Y, in the quarter.
As of May 31, 2024, debt remained steady at $300 million and cash stood at $178.5 million.
Dividend: The Board of Directors declared a quarterly dividend of $0.17 per common share, payable on December 27, 2024, to shareholders of record as of December 13, 2024.
In the quarter, the company repurchased 150,000 common shares for $6.8 million, averaging $45.35 per share.
Worthington Enterprises President and CEO Andy Rose stated, &#8220;Consumer Products had a solid quarter delivering year over year earnings growth despite flat volumes. Building Products earnings were down on weak volumes in our heating and cooking business, combined with lower contributions from ClarkDietrich, which continued to face some margin compression.&#8221;
&#8220;We have a positive long-term outlook especially with the recent recalibration of interest rates. Our market-leading products and brands are well-positioned to take advantage of long-term secular trends and should benefit when near-term headwinds subside and demand normalizes,&#8221; Rose&nbsp;added.
Price Action: WOR shares are down 5.03% at $43.01 premarket at the last check on Wednesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/09/40998340/nasdaq-s-p-500-futures-firm-chinas-economic-stimulus-fuels-commodities-bitcoin-steady-heres-what-tr" target="_blank" rel="noreferrer noopener">Nasdaq, S&amp;P 500 Futures Firm, China&#8217;s Economic Stimulus Fuels Commodities, Bitcoin Steady: Here&#8217;s What Traders Should Be Watching Tuesday</a></li>
</ul>

Mid Cap

Guidance

Dividends

Buybacks

Why Is Worthington Enterprises Stock Diving Premarket On Wednesday?

After<a href="https://www.benzinga.com/news/earnings/24/09/41018169/s-p-500-hits-fresh-record-high-amid-surge-in-nvidia-shares-investor-sentiment-improves-further-fear"> resiliently resisting selling pressure, </a>the market could be in for some weakness on Wednesday as traders position themselves defensively ahead of the key Main Street catalysts for the rest of the week. The index futures are modestly lower early Wednesday. Traders may not have much to look forward to in terms of data as merely the routine weekly mortgage application data and new homes sales report for August are due for the session.
It would be interesting to see if the week mortgage applications volume data will receive a boost from the recent pullback in mortgage rates ahead and amid the Fed rate cut. Micron Technology Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) earnings report is in the spotlight as traders strive to gauge artificial intelligence technology-related demand.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.20%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.09%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.05%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.03%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Wednesday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.07% to $570.92 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) moved down 0.19% to $484.46, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
U.S. stocks ended Tuesday&#8217;s session higher yet again despite some nervous moments in early trading on the back of the September consumer confidence reading that unexpectedly fell. Following the data, Jamie Cox, Managing Partner at Harris Financial Group, said, &#8220;It&#8217;s never good to see consumer confidence fall this much.&#8221;
The strategist attributed the weak consumer confidence to concerns about the implications of the upcoming election, the increasing conflict around the world, and the stubbornly high cost of food and credit. The 50 basis-point Fed funds rate cut last week seemed more correct in light of these data, he added.
The major indices opened higher but reversed course after the data. After hitting a bottom in late-morning trading, the tech-heavy Nasdaq Composite and the broader S&amp;P 500 Index bounced back in a V-shaped recovery before moving sideways in the afternoon. Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) ended up nearly 4%, providing a shot in the arm the these two indices, and China&#8217;s stimulus measures also kept the risk-on mood intact.
The Nasdaq Composite ended at the 18K+ level for the first time since time since late-July. The S&amp;P 500 hit fresh intraday and closing highs.
Despite seeing volatility throughout the session, the 30-stock Dow Industrials Average also clocked new intraday and closing highs. 
<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>+0.56%</td>
<td>18,074.52</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.25%</td>
<td>5,732.93</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.20%</td>
<td>42,208.22</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.17%</td>
<td>2,223.99</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
With Sept. 22, the first day of autumn, now in the rearview mirror, the historically rough month for the market is nearly over, said LPL Financial Chief Technical Strategist Adam Turnquist. With less than five trading sessions remaining before October, stocks are on track to outperform historical averages for September, barring any major market-moving events, he said. 
The strategist noted that the S&amp;P 500 is up 1.2% month-to-date, compared to the average decline of 0.7% since 1950. The declines in the past four years are at 4.9%, 9.3%, 4.8%, and 3.9%, respectively.
This bodes well for the fourth quarter, Turnquist said. &#8220;Based on historical performance for the S&amp;P 500, strong performance and momentum in the first nine months of the year could signal more gains ahead,&#8221; he said. Over the last 75 years, the fourth quarter has generated negative returns only eight times when momentum was strong during the first three quarters, he said.
Even In four of those eight years, returns in October–December were only slightly lower, in the range of 0% and -1.5%, Turnquist said. The largest fourth-quarter decline after positive performance through September came in 1987, which includes the infamous "Black Monday" market crash on October 19, when the S&amp;P 500 famously shed over 20% in one day, he added.
Looking ahead, the analyst sees Fed policy decisions, a much-anticipated Presidential election, and third-quarter earnings as major market catalysts.
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Upcoming Economic Data:
<ul>
<li>The Mortgage Bankers Association is due to announce its weekly mortgage application volume data at 7 a.m. EDT. In the week ended Sept. 13, mortgage applications volume climbed 14.2% week-over-week on a seasonally adjusted basis. The spike came as the 30-year fixed mortgage rate was 6.15%, the lowest since Sept. 2022.</li>
<li>The Commerce Department is scheduled to release its August new home sales report at 10 a.m. EDT. The consensus estimate calls for a seasonally adjusted annual rate of 700,000, down from the 739,000 rate in July.</li>
<li>The Energy Information Administration will release its weekly petroleum status report at 10:30 a.m. EDT.</li>
<li>The Treasury will auction five-year notes at 1 p.m. EDT.</li>
<li>Federal Reserve Governor Adriana Kugler is scheduled to speak at 4 p.m. EDT.</li>
</ul>
Stocks In Focus:
<ul>
<li>Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) rose about 7% <a href="https://www.benzinga.com/premarket">in premarket trading</a>, tacking on to Tuesday&#8217;s gains, after the initial public offering lock-up period for insiders expired. </li>
<li>Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) shares could be in the spotlight as the two-day Meta Connect technology-focused event gets underway on Wednesday.</li>
<li>Cintas Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTAS#NASDAQ">CTAS</a>) is due to <a href="https://www.benzinga.com/calendars/earnings">announce its financial results before the market opens, </a>while H.B. Fuller Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUL#NYSE">FUL</a>), Micron, Jefferies Financial Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JEF#NYSE">JEF</a>) and Worthington Enterprises, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOR#NYSE">WOR</a>) are among those reporting after the close.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures moved lower but held above the $71-a-barrel level, while gold futures continued to shine in record territory. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was once again flattish around the $63.5K level. The 10-year Treasury note climbed 1.7 points to 3.753%.
The major Asian markets traded on a mixed note, with China, Hong Kong and Taiwan extending their gains amid continued optimism over the stimulus measures announced by the People&#8217;s Bank of China this week. Most others settled lower. European stocks weakened in early trading on Wednesday.
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CTAS

NVDA

US Stocks May Stall After S&P 500 Hits Another Record; Micron Earnings, Meta Connect On Traders' Radar: Why This Strategist Is Optimistic About Q4

With U.S. stock futures trading lower this morning on Wednesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Cintas Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTAS#NASDAQ">CTAS</a>) to report quarterly earnings at 95 cents per share on revenue of $2.5 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Cintas shares rose 0.5% to $205.93 in after-hours trading.</li>
<li>Progress Software Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRGS#NASDAQ">PRGS</a>) <a href="https://www.benzinga.com/news/earnings/24/09/41015137/progress-software-stock-jumps-on-q3-earnings-revenue-beat-eps-beat-raised-guidance-and-more">reported</a> better-than-expected third-quarter financial results and raised its FY24 outlook. The company said it now sees full-year adjusted revenue in the range of $745 million to $755 million, up from a prior forecast of $725 million to $735 million. The company also raised its full-year earnings outlook to a range of $4.75 to $4.85 per share, up from a prior outlook of $4.70 to $4.80 per share. Progress Software shares gained 5.2% to $60.11 in the after-hours trading session.</li>
<li>Analysts expect Micron Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) to post quarterly earnings at $1.13 per share on revenue of $7.64 million after the closing bell. Micron shares gained 0.8% to $94.77 in the after-hours trading session.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Worthington Enterprises, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOR#NYSE">WOR</a>) reported weaker-than-expected financial results for the first quarter. Worthington shares fell 4% to $43.47 in the after-hours trading session.</li>
<li>Analysts are expecting Jefferies Financial Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JEF#NYSE">JEF</a>) to post quarterly earnings at 78 cents per share on revenue of $1.71 billion. The company will release earnings after the closing bell. Jefferies Financial shares gained 0.7% to $62.90 in after-hours trading.</li>
</ul>
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Photo courtesy: Wikimedia

PRGS

Cintas, Micron Technology And 3 Stocks To Watch Heading Into Wednesday

WIIM

Worthington Enterprises shares are trading lower after the company reported worse-than-expected Q1 financial results.

Outlook
"We have a positive long-term outlook especially with the recent recalibration of interest rates. Our market-leading products and brands are well-positioned to take advantage of long-term secular trends and should benefit when near-term headwinds subside and demand normalizes," Rose said. "We are also equipped with a strong balance sheet and the ability to drive long-term growth and reward shareholders as we leverage the Worthington Business System of transformation, innovation and M&amp;A."

Worthington Enterprises Says "We Have A Positive Long-term Outlook Especially With The Recent Recalibration Of Interest Rates. Well-Positioned To Take Advantage Of Long-Term Secular Trends And Should Benefit When Near-Term Headwinds Subside And Demand Normalizes"  "We Are Also Equipped With A Strong Balance Sheet And The Ability To Drive Long-Term Growth And Reward Shareholders As We Leverage The Worthington Business System Of Transformation, Innovation And M&A"

Worthington Enterprises (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOR#NYSE">WOR</a>) reported quarterly earnings of $0.50 per share which missed the analyst consensus estimate of $0.74 by 32.43 percent. This is a 75.73 percent decrease over earnings of $2.06 per share from the same period last year. The company reported quarterly sales of $257.30 million which missed the analyst consensus estimate of $300.26 million by 14.31 percent. This is a 78.43 percent decrease over sales of $1.19 billion the same period last year.

Worthington Enterprises Q1 EPS $0.50 Misses $0.74 Estimate, Sales $257.30M Miss $300.26M Estimate

Worthington Enterprises (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOR#NYSE">WOR</a>) reported quarterly earnings of $0.50 per share which missed the analyst consensus estimate of $0.74 by 32.43 percent. This is a 75.73 percent decrease over earnings of $2.06 per share from the same period last year.

Worthington Enterprises Q1 EPS $0.50 Misses $0.74 Estimate

After the market ended at a fresh record on Monday, traders have positioned themselves for more gains. The index futures are modestly higher early Tuesday. China, the second largest economy in the world, decided to go bold, with the nation&#8217;s central bank announcing a series of stimulatory measures. This has sent commodities soaring, given China is a commodity-guzzling country. China&#8217;s growth has a bearing on the rest of the global economy as it is often called the world&#8217;s factory.
In the domestic market, traders may look ahead to a speech by a Federal Reserve official, a consumer confidence reading and a couple of house prices data. Momentum suggests additional gains but the overbought levels may introduce caution, especially ahead of key inflation data due this week and more labor market data that would roll out next week.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.32%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.19%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.17%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.44%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Tuesday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.23% to $570.96 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) climbed 0.35% to $484.74, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
U.S. stocks closed Monday&#8217;s session modestly higher although trading was marked by some degree of volatility. The major indices opened higher, as they digested comments from Fed officials, and reacted to S&amp;P Global private sector activity readings, which showed the manufacturing sector contracted more than expected. Minneapolis Fed President Neel Kashkari said in an interview with CNBC&#8217;s Squawk Box that he favored a slowdown in rate cuts.
The indices traded on a nervous note, with the Dow Industrials and the Nasdaq Composite dipping below the unchanged line in the mid-session before making a comeback. The Dow hit new intraday and closing highs, while the S&amp;P 500 Index, despite the mid-session volatility, traded in the green throughout the session and ended at a fresh high.
Among S&amp;P 500 sectors, real estate, utility, material, energy and consumer discretionary stocks advanced solidly. On the other hand, communication services, healthcare and IT stocks experienced modest weakness.
<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>+0.14%</td>
<td>17,974.27</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.28%</td>
<td>5,718.57</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.15%</td>
<td>42,124.65</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.34%</td>
<td>2,220.28</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
The Fed delivered in line with expectations and it is now time to move to neutral on defensives vs. cyclicals, said Morgan Stanley&#8217;s U.S. Equity Strategist Mike Wilson. The valuation of defensives has reached extended levels and &#8220;we await more clarity on the labor data,&#8221; the strategist said. 
&#8220;Historically, defensives see fairly persistent outperformance 3-12 months following the Fed&#8217;s first cut, but can see initial, modest underperformance in the 1 month following the initial rate reduction,&#8221; Wilson said. The strategist recommended taking profits on the recent outperformance of defensives makes sense in the absence of knowing the outcome of the next labor report. 
Wilson said he continued to have conviction in his recommendation of large caps over small caps and also his bias for high-quality names.
WisdomTree Senior Economist and Wharton Professor Emeritus Jeremy Siegel said valuations across many sectors appear stretched by historical standards, particularly in the technology sector and AI-driven companies. &#8220;This reflects a broader market anticipation of substantial growth driven by technological advancements,&#8221; he said.
&#8220;As AI continues to evolve, it will be crucial to differentiate between companies that are genuinely creating value through innovative AI applications and those whose valuations are inflated by speculative interest.&#8221;
Siegel sees big rate cuts supporting small-cap companies that borrow at short-term borrowing rates as these companies have been the most impacted by the Fed&#8217;s aggressive rate hikes and they have some relatively cheap valuations in the U.S. market.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Upcoming Economic Data:
<ul>
<li>Federal Reserve Governor Michelle Bowman is scheduled to speak at 9 a.m. EDT.</li>
<li>The S&amp;P/Case-Shiller and Federal House Finance Agency are due to announce the results of their separate house price surveys for July at 9 a.m. EDT.</li>
<li>The Conference Board will announce its consumer confidence index for September at 10 a.m. EDT, with economists, on average, expecting the index to rise from 103.3 in August to 104 currently.</li>
<li>The Treasury is set to auction two-year notes at 1 p.m. EDT.</li>
</ul>
Stocks In Focus:
<ul>
<li>Liberty Broadband Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LBRDA#NASDAQ">LBRDA</a>) shares soared over 18% <a href="https://www.benzinga.com/premarket">in premarket trading</a> after the company announced that it communicated a counterproposal to the Special Committee of the Board of Directors of Charter Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) regarding its proposed acquisition by the latter.</li>
<li>Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) dropped over 3% following the company&#8217;s announcement concerning a convertible note offering.</li>
<li>Hawaiian Electric Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HE#NYSE">HE</a>) plunged over 11.50% after the company announced a commons stock offering.</li>
<li>AutoZone, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZO#NYSE">AZO</a>) and THOR Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THO#NYSE">THO</a>) are among the companies due to <a href="https://www.benzinga.com/calendars/earnings">announce their quarterly results before the market opens.</a></li>
<li>Those reporting after the close include KB Home (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBH#NYSE">KBH</a>), Progress Software Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRGS#NASDAQ">PRGS</a>), Stitch Fix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFIX#NASDAQ">SFIX</a>) and Worthington Enterprises, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOR#NYSE">WOR</a>).</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Oil and gold futures climbed, with the latter trading in record territory amid stimulus measures announced by China&#8217;s central bank, and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is little changed at $63.5K level. The 10-year Treasury note climbed 5.5 points to 3.793%.
Asian stocks, though ending mixed, saw spectacular performances by the Chinese market. The Shanghai Composite Index soared over 4% on stimulus hopes, and this positivity seeped into the Hong Kong market. The Chinese stock market gauge&#8217;s performance marked the biggest one-day gain in over four years. 
The People&#8217;s Bank of China announced a slew of measures to kickstart domestic growth, which has been constrained by an ailing property sector. In a new conference in Beijing, central bank chief Pan Gongsheng said, &#8220;The reserve requirement ratio will be cut by 0.5 percentage points in the near future,&#8221; while he also hinted at reducing the policy interest rate and driving down the market benchmark interest rate to reinvigorate growth.
&#8216;The Taiwanese and South Korean markets also recorded decent gains. The Australian market retreated amid a pause decision by the central bank.
The European markets firmed up early Tuesday.
Read Next:
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<li>S&amp;P 500 Outpaces Wall Street Projections As Year-End Nears: Will The Rally Hold?</li>
</ul>
Image Via Shutterstock

CHTR

LBRDA

SFIX

SNOW

Nasdaq, S&P 500 Futures Firm, China's Economic Stimulus Fuels Commodities, Bitcoin Steady: Here's What Traders Should Be Watching Tuesday

Worthington Enterprises, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOR#NYSE">WOR</a>) will release earnings results for its first quarter of 2025 after the <a href="https://www.benzinga.com/quote/WOR/earnings">closing bell on Tuesday, Sept. 24.</a>
Analysts expect the Columbus, Ohio-based company to report quarterly earnings at 74 cents per share. That&#8217;s down from $2.06 per share in the year-ago period. Worthington projects to report quarterly revenue of $300.26 million for the quarter. according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Sept. 10, Worthington Enterprises said it has begun modernization project at Chilton, Wisconsin, Campus.
With the recent buzz around Worthington Enterprises, some investors may be eyeing potential gains from the company's dividends. Worthington Enterprises currently has a dividend yield of 1.46% — a quarterly dividend of 17 cents a share. That amounts to about 68 cents a year.
To earn $500 monthly from Worthington Enterprises, start with a yearly target of $6,000 ($500 x 12 months).
Next, we take this amount and divide it by Worthington Enterprises' $0.68 dividend: $6,000 / $0.68 = 8,824 shares
So, an investor would need to own approximately $410,757 worth of Worthington Enterprises, or 8,824 shares to generate a monthly dividend income of $500.
Assuming a more conservative goal of $100 monthly ($1,200 annually), we do the same calculation: $1,200 / $0.68 = 1,765 shares, or $82,161 to generate a monthly dividend income of $100.
Note that dividend yield can change on a rolling basis, as the dividend payment and the stock price both fluctuate over time.
The dividend yield is calculated by dividing the annual dividend payment by the current stock price. As the stock price changes, the dividend yield will also change.
For example, if a stock pays an annual dividend of $2 and its current price is $50, its dividend yield would be 4%. However, if the stock price increases to $60, the dividend yield would decrease to 3.33% ($2/$60).
Conversely, if the stock price decreases to $40, the dividend yield would increase to 5% ($2/$40).
Further, the dividend payment itself can also change over time, which can also impact the dividend yield. If a company increases its dividend payment, the dividend yield will increase even if the stock price remains the same. Similarly, if a company decreases its dividend payment, the dividend yield will decrease.
WOR Price Action: Shares of Worthington Enterprises rose 2.6% to close at $46.55 on Thursday.
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Image: Shutterstock

Long Ideas

How To Earn $500 A Month From Worthington Enterprises Stock Ahead Of Q1 Earnings

Worthington Enterprises, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOR#NYSE">WOR</a>), a designer and manufacturer of market-leading brands that help enable people to live safer, healthier and more expressive lives, has begun a modernization project at its Chilton, Wisconsin, campus where it manufactures <a href="https://www.globenewswire.com/Tracker?data=Cpx6uKFiqUf1O-40yMiB4bsAnIouWXvW62NORPo_AesXOwcZJXZw7YDsasusQXRIPv-0wRBb_0xadz10XskDQEtZDtmHg-N4KNQ4ClyzjxI=">Bernzomatic&#xAE;</a> and <a href="https://www.globenewswire.com/Tracker?data=0fnAhRNuBbLC399FA7llMKzGMZLCVmXBCsLK_jsmzQzEqJVmOmmtJ-yhY6-BxSVVzs8eWWUoWObhd-6z1TsmgQ==">Mag-Torch&#xAE;</a> hand torches and fuel cylinders. A new 58,000-square-foot building and equipment will increase automation and production efficiencies, help ensure continued product quality and safety performance and allow for future expansion.

Worthington Enterprises Begins Modernization Project At Chilton, Wisconsin, Campus Where It Manufactures Bernzomatic And Mag-Torch Hand Torches And Fuel Cylinders

Armstrong World Industries. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AWI#NYSE">AWI</a>) and Worthington Enterprises (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOR#NYSE">WOR</a>) announced today that their Worthington Armstrong joint venture (WAVE) has acquired all of the assets of Amherst, NY-based Data Center Resources, LLC (DCR) related to the design and manufacture of customizable, modular aisle containment solutions for data centers, under the <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.cool-shield.com&amp;esheet=54102644&amp;newsitemid=20240801526149&amp;lan=en-US&amp;anchor=Cool+Shield&amp;index=1&amp;md5=1078b4197b7687bce70af396a3f84ad0">Cool Shield</a> brand.
This press release features multimedia. View the full release here: <a href="https://www.businesswire.com/news/home/20240801526149/en/">https://www.businesswire.com/news/home/20240801526149/en/</a>

Armstrong World Industries And Worthington Enterprises Announces That Their Worthington Armstrong JV Has Acquired All Of The Assets Of Amherst, NY-Based Data Center Resources Related To The Design And Manufacture Of Customizable, Modular Aisle Containment Solutions For Data Centers, Under The Cool Shield Brand

Goldman Sachs analyst Susan Maklari maintains Worthington Enterprises (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOR#NYSE">WOR</a>) with a Sell and lowers the price target from $56 to $43.

Goldman Sachs Maintains Sell on Worthington Enterprises, Lowers Price Target to $43

Canaccord Genuity analyst Brian McNamara maintains Worthington Enterprises (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOR#NYSE">WOR</a>) with a Hold and lowers the price target from $64 to $52.

Canaccord Genuity Maintains Hold on Worthington Enterprises, Lowers Price Target to $52

Futures trading reflects the <a href="https://www.benzinga.com/news/earnings/24/06/39476084/nasdaq-s-p-500-futures-firm-up-as-nvidia-poised-to-lead-tech-rebound-expert-says-a-major-gaffe-by-o">same trend seen on Tuesday,</a> with the Nasdaq and S&amp;P 500 futures firming up in early trading, while the Dow futures slipped. Notwithstanding the tech strength, the underlying sentiment is likely to be one of caution ahead of some key market-moving economic catalysts scheduled for the next two sessions. The Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) rally continues, with the stock firmer in premarket trading. It remains to be seen if the concentrated tech strength could be strong enough to lift the broader market.
The market could also receive a shot in the arm from FedEx Corp.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) positive earnings and M&amp;A rumors.
The Federal Reserve&#8217;s favorite inflation gauge, more Fed speeches, consumer sentiment data and durables goods order are among the key reports due on Thursday and Friday. More importantly, traders may also focus on the presidential debate that is scheduled for late Thursday.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.21%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.05%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.14%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.30%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">In premarket trading on Wednesday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) edged up 0.01% at $544.90 and the Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.16% to $480.15, according to <a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>. Cues From Last Session:</figcaption></figure>
The tech rally, spearheaded by Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), imparted strength to the broader market on Tuesday, although weakness elsewhere dragged the Dow Jones Industrial Average lower. IT and communication services stocks launched into a strong rally and energy stocks saw modest strength but most other S&amp;P 500 sectors closed on the red.
The tech-heavy Nasdaq Composite outperformed, hovering in positive territory throughout the session, while the S&amp;P 500 Index braved some mid-session weakness before recovering. The two averages snapped a three-session losing streak but they did not have enough momentum to break above their previous highs.
Among the economic data released on Tuesday, consumer confidence slowed in line with expectations in June and house price growth slowed in April &#8211; all pointers toward softening growth.
<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>+1.26%</td>
<td>17,717.65</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.39%</td>
<td>5,469.30</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-0.76%</td>
<td>39,112.16</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.42%</td>
<td>2,022.35</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Fund manager Louis Navellier is confident of the tech rally continuing. &#8220;Being underweight in tech remains a contrarian bet,&#8221; he said in a note to clients. &#8220;With the end of the quarter this week, we will shortly get another round of earnings which may give new perspectives on earnings momentum, but may also reemphasize the concentration at the top, as the AI theme gains momentum,&#8221; he said.
Carson Group&#8217;s Chief Market Strategist Ryan Detrick pointed to a historical trend that is positive for the market. Since 1950, the market has never peaked in June, he said. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Did stocks peak in June? History would say no, as stocks have never peaked for the year in June. This is the only month that can say this. Another feather in the cap for the bulls. <a href="https://t.co/Vt4L89So4P">pic.twitter.com/Vt4L89So4P</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1805786314706448417?ref_src=twsrc%5Etfw">June 26, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Upcoming Economic Data:
<ul>
<li>The Commerce Department is scheduled to release the new home sales data for May at 8:30 a.m. EDT. Economists, on average, expect new home sales to come in at a seasonally adjusted annual rate of 640,000 up from a 634,000 rate in April.</li>
<li>The Energy Information Administration will release its weekly petroleum status report at 10:30 a.m. EDT.</li>
<li>The Treasury is set to auction five-year notes at 1 p.m. EDT.</li>
</ul>
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Stocks In Focus:
<ul>
<li>Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) climbed over 33% in premarket in reaction to its <a href="https://www.benzinga.com/markets/equities/24/06/39497161/rivian-stock-skyrockets-premarket-set-to-open-at-4-month-high-whats-going-on">plan to forge a partnership </a>with Volkswagen AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>). Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) moved higher in sympathy.</li>
<li>FedEx climbed over 14% in reaction to the company&#8217;s quarterly results, while Worthington Enterprises, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOR#NYSE">WOR</a>) fell over 7.50%.</li>
<li>Whirlpool Corporation (WHR) rose nearly 14% after Reuters reported that Bosch is weighing a bid for the former.</li>
<li>General Mills, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) and Paychex, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NYSE">PAYX</a>) are among the notable companies reporting earnings ahead of the market opening.</li>
<li>Those reporting after the close include Micron Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), H.B. Fuller Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUL#NYSE">FUL</a>), Worthington Steel, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WS#NYSE">WS</a>) and Levi Strauss &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEVI#NYSE">LEVI</a>).</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures firmed up, while gold futures pulled back. The benchmark 10-year U.S. Treasury note rose 4.1 basis points to 4.279%. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) flatlined around the $61K mark.
Asian stocks closed higher, tracking the positive close on Wall Street overnight amid the tech rally, although the Australian market bucked the uptrend. The European markets showed tentativeness in early trading.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39495728/nvidia-set-for-another-100-rally-before-year-end-says-fund-manager-theyve-got-80-ya">Nvidia Set For Another 100% Rally Before Year-End, Says Fund Manager: &#8216;They&#8217;ve Got 80 Yards Of A Clear Turf…Nobody&#8217;s Catching Up To Them&#8217;</a>
Image Via Shutterstock

LCID

LEVI

PAYX

RIVN

VWAGY

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