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Polaris

Polaris designs and manufactures off-road vehicles, including all-terrain vehicles and side-by-side vehicles for recreational and utility purposes, snowmobiles, and on-road vehicles, including motorcycles, along with the related replacement parts, garments, and accessories. The firm entered the marine market after acquiring Boat Holdings in 2018, offering exposure to another segment of the outdoor lifestyle market. Polaris products retailed through more than 2,500 dealers in North America and through 1,500 international dealers as well as more than 25 subsidiaries and 90 distributors in more than 100 countries outside North America.

Polaris Inc

P3 Health Partners Inc. - Class A Common Stock

P3 Health Partners Inc

Polaris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PII#NYSE">PII</a>) is preparing to release its quarterly earnings on Tuesday, 2024-10-22. Here's a brief overview of what investors should keep in mind before the announcement.
Analysts expect Polaris to report an earnings per share (EPS) of $0.93.
Anticipation surrounds Polaris's announcement, with investors hoping to hear about both surpassing estimates and receiving positive guidance for the next quarter.
New investors should understand that while earnings performance is important, market reactions are often driven by guidance.
<h3>Historical Earnings Performance</h3>
During the last quarter, the company reported an EPS missed by $0.85, leading to a 6.75% drop in the share price on the subsequent day.
Here's a look at Polaris's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>2.23</td>
<td>0.06</td>
<td>2.58</td>
<td>2.69</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.38</td>
<td>0.23</td>
<td>1.98</td>
<td>2.71</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-7.000000000000001%</td>
<td>-1.0%</td>
<td>1.0%</td>
<td>-3.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729530111_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Polaris were trading at $82.55 as of October 18. Over the last 52-week period, shares are down 8.84%. Given that these returns are generally negative, long-term shareholders are likely upset going into this earnings release. 
<h3>Analyst Opinions on Polaris</h3>
Understanding market sentiments and expectations within the industry is crucial for investors. This analysis delves into the latest insights on Polaris.
Analysts have given Polaris a total of 8 ratings, with the consensus rating being Neutral. The average one-year price target is $83.25, indicating a potential 0.85% upside.
<h3>Analyzing Ratings Among Peers</h3>
This comparison focuses on the analyst ratings and average 1-year price targets of Acushnet Hldgs, Brunswick and YETI Holdings, three major players in the industry, shedding light on their relative performance expectations and market positioning.
<ul>
<li>The consensus outlook from analysts is an Neutral trajectory for Acushnet Hldgs, with an average 1-year price target of $72.0, indicating a potential 12.78% downside.</li>
<li>The prevailing sentiment among analysts is an Buy trajectory for Brunswick, with an average 1-year price target of $90.5, implying a potential 9.63% upside.</li>
<li>The consensus outlook from analysts is an Neutral trajectory for YETI Holdings, with an average 1-year price target of $45.67, indicating a potential 44.68% downside.</li>
</ul>
<h3>Summary of Peers Analysis</h3>
Within the peer analysis summary, vital metrics for Acushnet Hldgs, Brunswick and YETI Holdings are presented, shedding light on their respective standings within the industry and offering valuable insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Polaris</td>
<td>Neutral</td>
<td>-11.52%</td>
<td>$424M</td>
<td>5.06%</td>
</tr>
<tr>
<td>Acushnet Hldgs</td>
<td>Neutral</td>
<td>-0.80%</td>
<td>$371.75M</td>
<td>8.18%</td>
</tr>
<tr>
<td>Brunswick</td>
<td>Buy</td>
<td>-15.18%</td>
<td>$391M</td>
<td>4.92%</td>
</tr>
<tr>
<td>YETI Holdings</td>
<td>Neutral</td>
<td>15.14%</td>
<td>$264.31M</td>
<td>7.45%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Polaris ranks at the bottom for Revenue Growth and Gross Profit, while it ranks in the middle for Return on Equity.
<h3>All You Need to Know About Polaris</h3>
Polaris designs and manufactures off-road vehicles, including all-terrain vehicles and side-by-side vehicles for recreational and utility purposes, snowmobiles, and on-road vehicles, including motorcycles, along with the related replacement parts, garments, and accessories. The firm entered the marine market after acquiring Boat Holdings in 2018, offering exposure to another segment of the outdoor lifestyle market. Polaris products retailed through more than 2,500 dealers in North America and through 1,500 international dealers as well as more than 25 subsidiaries and 90 distributors in more than 100 countries outside North America.
<h3>Polaris: A Financial Overview</h3>
Market Capitalization Analysis: With a profound presence, the company's market capitalization is above industry averages. This reflects substantial size and strong market recognition.
Revenue Growth: Polaris's revenue growth over a period of 3 months has faced challenges. As of 30 June, 2024, the company experienced a revenue decline of approximately -11.52%. This indicates a decrease in the company's top-line earnings. When compared to others in the Consumer Discretionary sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: Polaris's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 3.5% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Polaris's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 5.06%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Polaris's ROA stands out, surpassing industry averages. With an impressive ROA of 1.22%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Polaris's debt-to-equity ratio stands notably higher than the industry average, reaching 1.71. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<a href="https://www.benzinga.com/quote/PII/earnings">To track all earnings releases for Polaris visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

Earnings Preview: Polaris

News

U.S. Consumer Product Safety Commission Says Polaris Recalls Sportsman All-Terrain Vehicles Due To Fire Hazard; Polaris Recalls About 10,300 ATVs And 3,158 Fuel Pump Kits And Fuel Tank Assemblies Due To Fire Hazard; Polaris Recalls Ranger XD 1500 Recreational Off-Road Vehicles With Winches Due To Fire Hazard

WIIM

Polaris shares are trading higher after DA Davidson upgraded the stock from Neutral to Buy.

DA Davidson analyst Brandon Rolle upgrades Polaris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PII#NYSE">PII</a>) from Neutral to Buy and announces $87 price target.

Upgrades

Price Target

Analyst Ratings

DA Davidson Upgrades Polaris to Buy, Announces $87 Price Target

Polaris shares are trading lower after multiple firms lowered their respective price target on the stock. The stock may be moving on continued weakness after the company on Tuesday reported worse-than-expected Q2 financial results and cut its guidance.

Citigroup analyst James Hardiman maintains Polaris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PII#NYSE">PII</a>) with a Neutral and lowers the price target from $86 to $83.

Citigroup Maintains Neutral on Polaris, Lowers Price Target to $83

RBC Capital analyst Sabahat Khan maintains Polaris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PII#NYSE">PII</a>) with a Sector Perform and lowers the price target from $97 to $82.

RBC Capital Maintains Sector Perform on Polaris, Lowers Price Target to $82

Baird analyst Craig Kennison maintains Polaris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PII#NYSE">PII</a>) with a Outperform and lowers the price target from $95 to $85.

Baird Maintains Outperform on Polaris, Lowers Price Target to $85

Longbow Research analyst David Macgregor downgrades Polaris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PII#NYSE">PII</a>) from Buy to Neutral.

Downgrades

Longbow Research Downgrades Polaris to Neutral

Roth MKM analyst Scott Stember maintains Polaris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PII#NYSE">PII</a>) with a Neutral and lowers the price target from $92 to $79.

Roth MKM Maintains Neutral on Polaris, Lowers Price Target to $79

Keybanc analyst Noah Zatzkin maintains Polaris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PII#NYSE">PII</a>) with a Overweight and lowers the price target from $105 to $90.

Keybanc Maintains Overweight on Polaris, Lowers Price Target to $90

Polaris Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PII#NYSE">PII</a>) reported worse-than-expected second-quarter financial results and cut its <a href="https://www.benzinga.com/news/earnings/24/07/39905321/automotive-manufacturer-polaris-shares-tumble-on-q2-earnings-miss-and-guidance-cut-amid-inventory-f">guidance on Tuesday</a>.
The company reported adjusted earnings per share of $1.38, missing the analyst consensus of $2.23. Quarterly sales of $1.961 billion missed the street view of $2.180 billion and were down 12% year over year.
"Reducing dealer inventory is a central priority, both through intentional retaildriving efforts and adjusting our production forecasts to further cut back on dealer shipments," said Mike Speetzen, Chief Executive Officer of Polaris.
The company updated its 2024 sales outlook to be down 17% to 20% versus its previous outlook of down five to seven percent versus 2023. The company now expects adjusted diluted EPS attributed to Polaris common shareholders to be down 56% to 62% versus the prior outlook of down 10% to 15%.
Polaris shares fell 4.8% to close at $78.18 on Tuesday.
These analysts made changes to their price targets on Polaris following the announcement.
<ul>
<li>BMO Capital analyst Tristan Thomas-Martin maintained Polaris with a Market Perform rating and lowered the price target from $90 to $75.</li>
<li>B of A Securities analyst Alexander Perry maintained the stock with a Neutral rating and slashed the price target from $86 to $85.</li>
</ul>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/">Top 3 Tech And Telecom Stocks That Are Set To Fly In July</a></li>
</ul>

Markets

Trading Ideas

Polaris Analysts Slash Their Forecasts After Downbeat Results

B of A Securities analyst Alexander Perry maintains Polaris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PII#NYSE">PII</a>) with a Neutral and lowers the price target from $86 to $85.

B of A Securities Maintains Neutral on Polaris, Lowers Price Target to $85

In the preceding three months, 5 analysts have released ratings for Polaris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PII#NYSE">PII</a>), presenting a wide array of perspectives from bullish to bearish.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $82.6, a high estimate of $95.00, and a low estimate of $75.00. This current average represents a 9.83% decrease from the previous average price target of $91.60. 
<img src="https://www.benzinga.com/files/images/story/2024/1721822472_0.png" alt="price target chart" />
<h2>Interpreting Analyst Ratings: A Closer Look</h2>
The analysis of recent analyst actions sheds light on the perception of Polaris by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Tristan Thomas-Martin</td>
<td>BMO Capital</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$75.00</td>
<td>$90.00</td>
</tr>
<tr>
<td>James Hardiman</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$86.00</td>
<td>$96.00</td>
</tr>
<tr>
<td>Michael Swartz</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$82.00</td>
<td>$92.00</td>
</tr>
<tr>
<td>Craig Kennison</td>
<td>Baird</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$95.00</td>
<td>$100.00</td>
</tr>
<tr>
<td>Brandon Rolle</td>
<td>DA Davidson</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$75.00</td>
<td>$80.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Polaris. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Polaris compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for Polaris's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Polaris's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/PII/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Polaris analyst ratings.</a>
<h2>About Polaris</h2>
Polaris designs and manufactures off-road vehicles, including all-terrain vehicles and side-by-side vehicles for recreational and utility purposes, snowmobiles, and on-road vehicles, including motorcycles, along with the related replacement parts, garments, and accessories. The firm entered the marine market after acquiring Boat Holdings in 2018, offering exposure to new segments of the outdoor lifestyle market. Polaris products retailed through more than 2,500 dealers in North America and through 1,500 international dealers as well as more than 25 subsidiaries and 90 distributors in more than 100 countries outside North America.
<h3>Polaris: A Financial Overview</h3>
Market Capitalization Analysis: The company's market capitalization is above the industry average, indicating that it is relatively larger in size compared to peers. This may suggest a higher level of investor confidence and market recognition.
Decline in Revenue: Over the 3 months period, Polaris faced challenges, resulting in a decline of approximately -20.34% in revenue growth as of 31 March, 2024. This signifies a reduction in the company's 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.
Net Margin: Polaris's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 0.22%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Polaris's ROE excels beyond industry benchmarks, reaching 0.27%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Polaris's ROA excels beyond industry benchmarks, reaching 0.07%. This signifies efficient management of assets and strong financial health.
Debt Management: Polaris's debt-to-equity ratio is notably higher than the industry average. With a ratio of 1.61, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
<h2>What Are Analyst Ratings?</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Evaluating Polaris: Insights From 5 Financial Analysts

BMO Capital analyst Tristan Thomas-Martin maintains Polaris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PII#NYSE">PII</a>) with a Market Perform and lowers the price target from $90 to $75.

BMO Capital Maintains Market Perform on Polaris, Lowers Price Target to $75

On Tuesday, Wall Street saw a mixed session, with small-cap stocks outperforming large caps as investors anticipated key earnings reports from Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), set to be <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39910693/tesla-analyst-asks-do-earnings-matter-ahead-of-q2-report-robotaxis-china-ev-guidanc">released after the close.</a>
The Russell 2000 index, as replicated by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), climbed 0.8%, while the tech-heavy Nasdaq 100 dipped 0.2%. This marked the ninth time in the last 10 sessions that small caps have outperformed tech stocks. The S&amp;P 500 and the Dow Jones showed little movement.
United Parcel Service Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) stood out among the mega-cap stocks, plunging 14% after missing earnings and revenue estimates for the previous quarter. This decline is poised to be the worst one-day drop for the shipping company since it went public in 1999.
Both Treasury yields and the U.S. dollar remained stable ahead of a data-heavy week, featuring the Q2 GDP report on Thursday and the Fed&#8217;s favored inflation report on Friday.
Gold inched up 0.3%, reaching $2,400 per ounce, while Bitcoin dropped over 2% to $65,800, marking its second straight session of losses.
<h3 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,243.00</td>
<td>0.8%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,568.86</td>
<td>0.1%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,386.54</td>
<td>-0.1%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,778.53</td>
<td>-0.2%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:48 p.m. ET</figcaption></figure>
According to <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071924&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was flat at $554.92.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;edged down 0.1% to $403.80.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA:&nbsp;<a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) fell 0.2% to $481.52.</li>
<li>Sector-wise, the Financials Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>)&nbsp;outperformed, up by 0.4%, while the&nbsp;Energy Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 1.4%.</li>
</ul>
<h3 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h3>
Stocks reacting to company earnings were: 
<ul>
<li>Agilysys, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGYS#NASDAQ">AGYS</a>), down over 5%</li>
<li>NXP Semiconductors N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>) down over 9%</li>
<li>Medpace Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEDP#NASDAQ">MEDP</a>) down over 17%</li>
<li>Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), up 0.6%</li>
<li>Freeport-McMoRan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>), down 2%</li>
<li>GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>), up over 7%</li>
<li>General Motors Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), down over 6%</li>
<li>Kimberly-Clark Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMB#NYSE">KMB</a>), down over 4%</li>
<li>Comcast Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>), down over 2%</li>
<li>MSCI Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSCI#NYSE">MSCI</a>), up over 7%</li>
<li>Lockheed Martin Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), up over 4%</li>
<li>Philip Morris International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PM#NYSE">PM</a>), up 2%</li>
<li>PulteGroup, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>), down 0.5%</li>
<li>Quest Diagnostics Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>), down over 4%</li>
<li>Spotify Technology S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>), up over 10%</li>
<li>Polaris Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PII#NYSE">PII</a>), down over 2%.</li>
</ul>
Those reporting after the close include:
<ul>
<li>Alphabet, Capital One Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>)</li>
<li>Chubb Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>)</li>
<li> Mattel, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>)</li>
<li>Packaging Corporation of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKG#NYSE">PKG</a>)</li>
<li>Seagate Technology Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>)</li>
<li>Tesla</li>
<li>Texas Instruments, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>)</li>
<li>Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>).</li>
</ul>
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</ul>
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Small-Cap Gains Resume Ahead Of Major Tech Earnings; UPS Faces Worst Day Ever, Bitcoin Dips Below $66,000: What's Driving Markets Tuesday?

Shares of Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) fell sharply during Tuesday's session after the company reported worse-than-expected <a href="https://www.benzinga.com/news/earnings/24/07/39908857/comcasts-q2-earnings-studios-and-theme-parks-pull-revenue-lower-broadband-and-video-subs-fall">second-quarter sales results</a>.
Comcast reported second-quarter revenue decline of 2.7% year-over-year to $29.69 billion, missing the analyst consensus estimate of $30.02 billion.The company reported adjusted EPS of $1.21, beating analyst consensus estimates of $1.12, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Comcast shares declined 6.1% to $37.12 on Tuesday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Azitra, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZTR#NYSE">AZTR</a>) shares jumped 529% to $10.19 after the company announced that the U.S. Patent and Trademark Office granted it U.S. Patent No. 12,036,248 for the treatment of atopic dermatitis.</li>
<li>Adial Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADIL#NASDAQ">ADIL</a>) jumped 148% to $2.6299 after the company announced it advanced into the second cohort and commenced dosing for the Pharmacokinetics Study of AD04 for alcohol use disorder.</li>
<li>Salarius Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLRX#NASDAQ">SLRX</a>) gained 111% to $3.2540.</li>
<li>Agape ATP Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATPC#NASDAQ">ATPC</a>) shares climbed 67% to $0.2390.</li>
<li>Smart for Life, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMFL#NASDAQ">SMFL</a>) rose 45% to $2.7950.</li>
<li>Dermata Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRMA#NASDAQ">DRMA</a>) gained 43% to $2.41.</li>
<li>Regencell Bioscience Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGC#NASDAQ">RGC</a>) jumped 36.5% to $4.60.</li>
<li>Volato Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOAR#NYSE">SOAR</a>) gained 33.5% to $0.6385 after jumping around 20% on Monday.</li>
<li>Frequency Electronics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FEIM#NASDAQ">FEIM</a>) shares climbed 30% to $13.11 following fourth-quarter earnings. Also, the company declared a $1.00 special cash dividend.</li>
<li>Mammoth Energy Services, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TUSK#NASDAQ">TUSK</a>) gained 26% to $4.42 after the company announced its subsidiary, Cobra Acquisitions, entered into a release and settlement agreement with the Puerto Rico Electric Power Authority.</li>
<li>iClick Interactive Asia Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLK#NASDAQ">ICLK</a>) rose 23.5% to $2.05.</li>
<li>1847 Holdings LLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFSH#NYSE">EFSH</a>) jumped 19.3% to $2.90.</li>
<li>Milestone Scientific Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLSS#NYSE">MLSS</a>) gained 17.5% to $1.02 after the company announced the Medicare price assignment for its CompuFlo Epidural System.</li>
<li>Staffing 360 Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STAF#NASDAQ">STAF</a>) gained 16% to $2.1493.</li>
<li>Kiniksa Pharmaceuticals International, plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KNSA#NASDAQ">KNSA</a>) rose 16% to $24.81 after the company reported better-than-expected second-quarter sales results and raised its FY24 net product revenue guidance.</li>
<li>Aeva Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEVA#NYSE">AEVA</a>) gained 15.1% to $3.6713.</li>
<li>Spotify Technology S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) jumped 12.7% to $333.02 following second-quarter earnings.</li>
<li>NuScale Power Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMR#NYSE">SMR</a>) gained 11.8% to $12.34.</li>
<li>PureCycle Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCT#NASDAQ">PCT</a>) rose 11.8% to $6.90.</li>
<li>MSCI Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSCI#NYSE">MSCI</a>) gained 11.1% to $561.96 following better-than-expected second-quarter financial results.</li>
<li>Crown Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) rose 8.5% to $84.04 after the company reported better-than-expected second-quarter earnings and raised its FY24 EPS guidance above estimates.</li>
<li>MakeMyTrip Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MMYT#NASDAQ">MMYT</a>) gained 8% to $96.75 following better-than-expected quarterly earnings.</li>
<li>Owens &amp; Minor, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMI#NYSE">OMI</a>) gained 8% to $16.51 as the company released preliminary second quarter 2024 financial results and signed a definitive agreement to acquire Rotech Healthcare for $1.36 billion in cash.</li>
<li>Mesoblast Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MESO#NASDAQ">MESO</a>) shares surged 8% to $8.15. Mesoblast recently started enrollment in Phase 3 trial of Rexlemestrocel-L for chronic low back pain.</li>
<li>Pentair plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNR#NYSE">PNR</a>) climbed 7.7% to $86.19 after the company reported better-than-expected second quarter financial results and revised its FY24 adjusted EPS guidance above estimates.</li>
<li>Danaher Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>) gained 7.4% to $269.35 after the company reported better-than-expected second quarter earnings.</li>
<li>GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) gained 6.4% to $173.21 after the company reported better-than-expected second quarter adjusted EPS and raised its FY24 outlook.</li>
<li>SAP SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>) rose 6% to $0.2390 after the company reported second-quarter financial results.</li>
<li>Zions Bancorporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZION#NASDAQ">ZION</a>) gained 5.4% to $52.12 after posting better-than-expected quarterly results on Monday.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Jaguar Health, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JAGX#NASDAQ">JAGX</a>) shares dipped 65% to $1.50 after the company announced its phase 3 OnTarget trial results for Crofelemer did not meet its primary endpoint.</li>
<li>TransCode Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RNAZ#NASDAQ">RNAZ</a>) dipped 62.2% to $0.2999 after the company announced a proposed public offering.</li>
<li>Fly-E Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLYE#NASDAQ">FLYE</a>) tumbled 59.2% to $2.60.</li>
<li>MIRA Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MIRA#NASDAQ">MIRA</a>) shares dipped 50.3% to $2.4636. MIRA Pharmaceuticals shares jumped 627% on Monday after the company announced new preclinical study results for its novel oral ketamine analog, Ketamir-2.</li>
<li>CareMax, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMAX#NASDAQ">CMAX</a>) shares fell 38.3% to $3.1851 after surging 228% on Monday.</li>
<li>Selina Hospitality PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLNA#NASDAQ">SLNA</a>) dipped 32.4% to $0.0250.</li>
<li>PS International Group Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSIG#NASDAQ">PSIG</a>) fell 32.2% to $1.83.</li>
<li>Exicure, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XCUR#NASDAQ">XCUR</a>) fell 31.1% to $0.3440.</li>
<li>Cellectar Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLRB#NASDAQ">CLRB</a>) dipped 26.2% to $2.23. The company announced results from its CLOVER WaM pivotal study evaluating iopofosine I 131.</li>
<li>Crown LNG Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGBS#NASDAQ">CGBS</a>) fell 23% to $0.77.</li>
<li>Castellum, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTM#NYSE">CTM</a>) fell 20% to $0.1594. Castellum recently announced a new strategic alliance with Krilla Kaleiwahea.</li>
<li>Netcapital Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCPL#NASDAQ">NCPL</a>) fell 17.3% to $0.0926 after gaining around 8% on Monday.</li>
<li>Medpace Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEDP#NASDAQ">MEDP</a>) shares declined 16.6% to $364.00 after the company reported mixed second-quarter financial results and narrowed its FY24 revenue guidance with its midpoint below estimates.</li>
<li>Fitell Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTEL#NASDAQ">FTEL</a>) dipped 15.2% to $16.48.</li>
<li>United Parcel Service, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) fell 13.2% to $126.04 after the company reported worse-than-expected quarterly financial results.</li>
<li>Nukkleus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUKK#NASDAQ">NUKK</a>) shares fell 10% to $0.4479 after gaining over 55% on Monday.</li>
<li>NXP Semiconductors N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>) shares fell 9.5% to $256.55 following mixed second-quarter earnings.</li>
<li>New Fortress Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFE#NASDAQ">NFE</a>) dipped 9.2% to $23.28.</li>
<li>PACCAR Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCAR#NASDAQ">PCAR</a>) fell 8.4% to $99.92 after the company reported worse-than-expected second-quarter financial results.</li>
<li>A. O. Smith Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AOS#NYSE">AOS</a>) declined 8.4% to $81.30. The company reported second-quarter financial results.</li>
<li>WEBTOON Entertainment Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBTN#NASDAQ">WBTN</a>) dipped 7.7% to $22.00.</li>
<li>Polaris Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PII#NYSE">PII</a>) declined 7.2% to $76.23 after the company reported worse-than-expected second-quarter financial results and cut its guidance.</li>
<li>Archrock, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AROC#NYSE">AROC</a>) shares declined 6.9% to $21.76. Archrock commenced public offering of 11 million shares of its common stock and announced plans to acquire Total Operations and Production Services for $983 million in cash and stock.</li>
<li>General Motors Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) fell 6.1% to $46.52 after the company reported second-quarter financial results. Also, the company announced that it delayed its 2024 Buick EV and pushed its EV pickup plant opening to 2026.</li>
</ul>
Now Read This: 
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<li><a href="https://www.benzinga.com/news/24/07/39907957/microsoft-to-rally-around-10-here-are-10-top-analyst-forecasts-for-monday">Microsoft To Rally Around 10%? Here Are 10 Top Analyst Forecasts For Tuesday</a></li>
</ul>

Intraday Update

ADIL

AEVA

AROC

ATPC

AZTR

CGBS

CLRB

CMAX

DRMA

EFSH

FEIM

FLYE

FTEL

ICLK

JAGX

KNSA

MESO

MIRA

MLSS

MMYT

NCPL

NUKK

PCAR

PSIG

RNAZ

SLNA

SLRX

SMFL

SOAR

STAF

TUSK

WBTN

XCUR

ZION

Why Comcast Shares Are Trading Lower By 6%? Here Are Other Stocks Moving In Tuesday's Mid-Day Session

Polaris Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PII#NYSE">PII</a>) &nbsp;shares are trading lower after the company reported worse-than-expected <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">second-quarter financial results and cut its guidance.</a>
The company <a target="_blank" href="https://s27.q4cdn.com/214071222/files/doc_financials/2024/q2/PII-Q2-2024-Earnings-Release-7-23-24-F.pdf" rel="noreferrer noopener">reported</a> adjusted earnings per share of $1.38, missing the analyst consensus of $2.23. Quarterly sales of $1.961 billion missed the street view of $2.180 billion and were down 12% year over year.
Lower volume and net pricing were the primary factors affecting sales, which were driven by higher promotional spending and partially offset by a favorable mix.
&#8220;Reducing dealer inventory is a central priority, both through intentional retaildriving efforts and adjusting our production forecasts to further cut back on dealer shipments,&#8221; said Mike Speetzen, Chief Executive Officer of Polaris.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39903213/us-stock-futures-little-changed-as-traders-brace-for-q2-reports-from-alphabet-tesla-there-remains-s" rel="noreferrer noopener">US Stock Futures Little Changed As Traders Brace For Q2 Reports From Alphabet, Tesla: &#8216;There Remains Strong Fundamental Support For Large Caps,&#8217; Says Economist</a>
Adjusted gross profit margin of 21.8 percent decreased 99 basis points primarily driven by higher promotional activity, unfavorable plant absorption and higher finance interest partially offset by favorable operational costs, as compared to the second quarter of 2023.
&#8220;We have lowered our full-year guidance to reflect the decision to cut shipments and our expectations that current industry challenges remain in place for the remainder of the year,&#8221; Speetzen added.
Outlook: The company updated its 2024 sales outlook to be down 17% to 20% versus its previous outlook of down five to seven percent versus 2023. The company now expects adjusted diluted EPS attributed to Polaris common shareholders to be down 56% to 62% versus the prior outlook of down 10% to 15%.
Price Action: PII shares are trading lower by 10.6% to $73.45 premarket at last check Tuesday.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/07/39874391/tesla-alphabet-gm-ford-lead-earnings-parade-this-week-as-market-struggles-to-sustain-the-summer-" target="_blank" rel="noreferrer noopener">Tesla, Alphabet, GM, Ford Lead Earnings Parade This Week As Market Struggles To Sustain The Summer Rally</a></li>
</ul>

Guidance

Movers

General

Automotive Manufacturer Polaris Shares Tumble On Q2 Earnings Miss And Guidance Cut Amid Inventory Focus

The market mood turned jittery after Monday&#8217;s rebound, with index futures trading on either side of the unchanged line early Tuesday. The apprehensions reflect uncertainties regarding geopolitics, monetary policy, and the health of the reporting season ahead of earnings from AI stalwart Alphabet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) and electric-vehicle giant Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>). <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39884110/alphabet-set-to-report-strong-q2-results-with-increased-search-revenue-analyst-bull">The Google-parent&#8217;s earnings </a>could be seen as a foretaste of what is to come from the rest of the AI-levered stocks.
Earnings news has been mixed. The tidings on the economic front are scarce, with only a housing market report due for the day. That said, traders may choose to remain cautious ahead of some key readings, including Friday&#8217;s inflation data.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.02%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.08%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.11%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.23%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> 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 0.08% to $555.11, while the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) edged 0.01% to $482.28, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>. Cues From Last Session:</figcaption></figure>
Stocks went racing higher on Monday as traders assessed the implications of President Joe Biden&#8217;s withdrawal from the race and looked ahead optimistically to the week&#8217;s earnings report. Beaten-down tech stocks spearheaded the recovery on a day when most S&amp;P 500 sector indices, barring energy and consumer staples, advanced. 
The major averages opened higher, with the Nasdaq Composite Index and the S&amp;P 500 Index moving roughly sideways with strong gains for the rest of the session. In the process, the former broke back above the 18,000 barrier. The Dow Jones Industrial Average experienced some volatility in the morning before moving decisively into the positive terrain and ending modestly higher. 
Small-caps resumed their rally, with the Russell 2,000 Index outperforming the major averages. 
<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>+1.58%</td>
<td>18,007.57</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+1.08%</td>
<td>5,564.41</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.32%</td>
<td>40,415.44</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+1.66%</td>
<td>2,220.65</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Wharton Professor Jeremy Siegel, Senior Economist to WisdomTree, commented on the dramatic shifts within the equity market, the ones happening among small- and large-cap stocks, as well as value and growth stocks. The strength in the small-cap stocks following favorable inflation data indicates a market highly responsive to even subtle shifts in monetary policy expectations, he said. 
The economist said, &#8220;There remains strong fundamental support for large caps—their earnings expectations have increased much more than small caps.&#8221; If the recent shifting tides were to sustain and last long &#8220;we will also need to see small and value stocks further reverse the huge gains in growth stocks over the previous three months,&#8221; he said.
The professor also weighed in on the U.S. election landscape. Biden's exit from the race makes Vice President Kamala Harris a virtual certain nominee, she said. The betting markets predict a close race between Harris and Trump but the former still may not beat the latter, he said. 
&#8220;However, the probability that the House goes Democratic has increased, and the prospects of a split government is encouraging to stock investors,&#8221; Siegel said. 
In an interview with CNBC on Monday, Tom Lee, Head of Research at Fund Strat, <a href="https://www.cnbc.com/video/2024/07/22/russell-2000-will-see-40-percent-rally-by-end-of-the-summer-says-fundstrats-lee.html">reiterated </a>his call for a 40% rally in small-caps by the end of the summer. He remised his call on the relatively higher sensitivity of these stocks to a Fed rate cut and the probability of it. 
Upcoming Economic Data:
<ul>
<li>The National Association of Realtors is scheduled to release its existing home sales report for June at 10 a.m. EDT. Economists, on average, expect existing home sales to come in at a seasonally adjusted annual rate of 3.59 million units compared to the 4 million-unit rate for May.</li>
<li>The Richmond Fed&#8217;s manufacturing and services sector survey results for July are due at 10 a.m. EDT.</li>
<li>The Treasury will auction 2-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>Agilysys, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGYS#NASDAQ">AGYS</a>) fell over 3% in premarket trading following the company&#8217;s quarterly earnings release and NXP Semiconductors N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>) slipped over 8% on weak revenue and outlook and Medpace Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEDP#NASDAQ">MEDP</a>) plunged nearly 13%.</li>
<li>Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Freeport-McMoRan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>), GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>), General Motors Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) (up over 5%), Kimberly-Clark Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMB#NYSE">KMB</a>), Lockheed Martin Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), Philip Morris International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PM#NYSE">PM</a>), PulteGroup, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>), Quest Diagnostics Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>), Spotify Technology S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) (up over 14%), Polaris Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PII#NYSE">PII</a>) (down over 17%), and United Parcel Service, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) are among the notable companies reporting ahead of the market open.</li>
<li>Those reporting after the close include Alphabet, Capital One Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>), Chubb Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>), Mattel, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>), Packaging Corporation of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKG#NYSE">PKG</a>), Seagate Technology Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>), Tesla, Texas Instruments, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) and Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>).</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures fell further toward the $78-a-barrel mark and gold futures advanced. The 10-year Treasury yield fell 3.1 points to 4.228%. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell below the $67K mark, while Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) rose modestly as the SEC approved Ethereum ETFs, which could begin trading as early as Tuesday.
Asian stocks traded mixed once again, with the Chinese and Hong Kong markets pulling back notably, while the Japanese, Indian and Indonesian markets ended slightly lower. The rest of the major markets in the region advanced, tracking the positive lead from Wall Street overnight amid the tech rebound.
European stocks were firmly in the green in early trading.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/39874391/tesla-alphabet-gm-ford-lead-earnings-parade-this-week-as-market-struggles-to-sustain-the-summer-">Tesla, Alphabet, GM, Ford Lead Earnings Parade This Week As Market Struggles To Sustain The Summer Rally</a></li>
</ul>
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