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Basic Materials

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Industrials

Healthcare

Consumer Defensive

Other

Energy

The adviser and sub-adviser seek to achieve the Funds investment objective by investing in U.S. and foreign equity securities and equity securities of companies engaging in activities that are consistent with Funds investment theme of robocar disruption and technology. The adviser applies an option overlay strategy to the Funds equity investments.

Nvidia Corp.

Advanced Micro Devices Inc.

Microsoft Corp

Tesla, Inc.

Asml Holding N.V., Ordinary Shares

Alphabet Inc-cl C

Amazon.Com Inc

Lemonade Inc

Apple Inc

Simplify Volt Robocar Disruption ETF

Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) filed a federal lawsuit Monday against California Attorney General Rob Bonta and environmental groups, alleging defamation of its advanced plastics recycling initiatives, as the oil giant pushes forward with significant investments in recycling technology.
What Happened: Filed in Beaumont, Texas, the lawsuit claims Bonta acted in concert with law firm Cotchett, Pitre &amp; McCarthy, which has connections to Australian billionaire Andrew Forrest&#8217;s Minderoo Foundation. The foundation controls Fortescue, a competitor in low-carbon solutions, Reuters reported.
The legal action comes as Exxon <a href="https://www.benzinga.com/24/11/42117222/exxonmobil-aims-high-with-200-million-investment-in-cutting-edge-plastic-recycling">advances a $200 million expansion</a> of its advanced recycling capabilities in Texas. The technology breaks down hard-to-recycle plastics at the molecular level for reuse, part of the company&#8217;s broader sustainability strategy.
&#8220;Defendants are repeatedly and publicly attacking ExxonMobil with false accusations of being a &#8216;liar&#8217; and declarations that advanced recycling is a &#8216;myth&#8217; and a &#8216;sham,'&#8221; Exxon stated in its complaint, seeking undisclosed damages and retractions.
Why It Matters: The California Department of Justice defended its position, calling the lawsuit &#8220;another attempt from ExxonMobil to deflect attention from its own unlawful deception.&#8221; This follows Bonta&#8217;s 2023 lawsuit against Exxon over alleged decades-long deception about recycling limitations.
The legal battle unfolds as Exxon pursues <a href="https://www.benzinga.com/24/12/42444546/2030-roadmap-exxonmobil-to-achieve-54m-barrelsday-production-targets-20-billion-earnings-boost">ambitious growth targets</a>, including a $20 billion earnings boost by 2030 and $30 billion in lower-emissions investments. The company recently announced plans for $20 billion in annual share repurchases for 2025-2026, supported by projected surplus cash of $165 billion.
Wall Street maintains a positive outlook on Exxon, with analysts setting an <a href="https://www.benzinga.com/quote/XOM/analyst-ratings">average price target</a> of $127.96, representing a potential upside from current trading levels of around $108. 
The company trades at a price-to-earnings ratio of 13.54 and offers a dividend yield of 3.64%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
<figure class="wp-block-image aligncenter size-large is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/08030331/Screenshot-2025-01-08-at-1.31.49%E2%80%AFPM-1024x376.png" alt="" class="wp-image-723281" style="width:647px;height:auto" /></figure>
Read Next: 
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<li><a href="https://www.benzinga.com/news/legal/25/01/42865752/tesla-supplier-catl-riot-games-owner-tencent-plan-legal-action-over-pentagon-blacklist-deny-military-ties">Tesla Supplier CATL, Riot Games Owner Tencent Plan Legal Action Over Pentagon Blacklist, Deny Military Ties</a></li>
</ul>
Image via Flickr
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Flickr

Equities

News

Markets

Exxon Mobil Sues California AG Over Defamation Of Recycling Efforts, Citing Ties To Competitors

The CNN Money Fear and Greed index showed an increase in the overall fear level, while the index remained in the &#8220;Fear&#8221; zone on Tuesday.
U.S. stocks settled lower on Tuesday, with the S&amp;P 500 falling more than 1% during the session amid a decline in major tech stocks.
NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares dipped 6.2% on Tuesday after hitting a record high level. Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares fell over 4% after BofA Securities downgraded the stock from Buy to Neutral, while Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) lost nearly 2% during the session.
On the economic data front, the U.S. trade deficit increased to $78.2 billion in November versus a revised $73.6 billion gap in the previous month and is in line with market estimates. Imports increased 3.4% to $351.6 billion, while exports rose 2.7% to $273.4 billion.
Most sectors on the S&amp;P 500 closed on a negative note, with consumer discretionary, communication services, and information technology stocks recording the biggest losses on Tuesday. However, energy and health care stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 178 points to 42,528.36 on Tuesday. The S&amp;P 500 fell 1.11% to 5,909.03, while the Nasdaq Composite dipped 1.89% at 19,489.68 during Tuesday's session.
Investors are awaiting earnings results from UniFirst Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNF#NYSE">UNF</a>), Acuity Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AYI#NYSE">AYI</a>) and PriceSmart, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSMT#NASDAQ">PSMT</a>) today.
At a current reading of 35.7, the index remained in the &#8220;Fear&#8221; zone on Tuesday, versus a prior reading of 37.8.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/price-target/25/01/42846607/bank-of-new-york-mellon-earnings-are-imminent-these-most-accurate-analysts-revise-forecasts-ahead-of-earnings-call">Bank of New York Mellon Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call</a></li>
</ul>
Photo courtesy: Shutterstock

Earnings

Pre-Market Outlook

Trading Ideas

NVDA

PSMT

TSLA

S&P 500 Down Over 1% As Nvidia, Tesla Tumble: Greed Index Remains In 'Fear' Zone

<h3>Companies Reporting Before The Bell</h3>
• UniFirst (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNF#NYSE">UNF</a>) is estimated to report quarterly earnings at $2.21 per share on revenue of $606.60 million. 
• Simply Good Foods (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMPL#NASDAQ">SMPL</a>) is projected to report quarterly earnings at $0.46 per share on revenue of $347.32 million. 
• Helen Of Troy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HELE#NASDAQ">HELE</a>) is likely to report quarterly earnings at $2.58 per share on revenue of $532.91 million. 
• MSC Industrial Direct Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSM#NYSE">MSM</a>) is likely to report quarterly earnings at $0.73 per share on revenue of $904.59 million. 
• Albertsons Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>) is estimated to report quarterly earnings at $0.66 per share on revenue of $18.82 billion. 
• Acuity Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AYI#NYSE">AYI</a>) is estimated to report quarterly earnings at $3.89 per share on revenue of $956.17 million. 
• AngioDynamics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANGO#NASDAQ">ANGO</a>) is expected to report quarterly loss at $0.11 per share on revenue of $70.93 million. 
<h3>Companies Reporting After The Bell</h3>
• Jefferies Financial Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JEF#NYSE">JEF</a>) is likely to report quarterly earnings at $1.04 per share on revenue of $1.83 billion. 
• Penguin Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENG#NASDAQ">PENG</a>) is expected to report quarterly earnings at $0.39 per share on revenue of $319.99 million. 
• Pricesmart (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSMT#NASDAQ">PSMT</a>) is projected to report quarterly earnings at $1.29 per share on revenue of $1.24 billion. 
• Greenbrier Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBX#NYSE">GBX</a>) is projected to report quarterly earnings at $1.15 per share on revenue of $849.51 million. 
• Franklin Covey (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FC#NYSE">FC</a>) is estimated to report quarterly earnings at $0.22 per share on revenue of $70.15 million. 
• Saratoga Investment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAR#NYSE">SAR</a>) is projected to report quarterly earnings at $0.84 per share on revenue of $34.90 million. 
• Pure Cycle (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCYO#NASDAQ">PCYO</a>) is likely to report earnings for its first quarter. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ANGO

HELE

PCYO

Penguin Solutions, Inc. - Ordinary Shares

PENG

SMPL

Earnings Scheduled For January 8, 2025

CLVT

Clarivate Announced The Release Of The Twelfth Annual Drugs To Watch Report, A Trusted Guide To The Therapies Poised To Redefine The Future Of Healthcare

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk on Tuesday said that Grok chatbot, created by his artificial intelligence startup xAI, is going to be integrated into Tesla vehicles &#8220;soon.&#8221;
What Happened: &#8220;Grok in Teslas is coming soon. So you will be able to talk to your Tesla and ask for anything,&#8221; Musk said in a live stream on social media platform X. 
Tesla confirmed the announcement with its CEO via its X account, dedicated to updates about its Cybertruck.
&#8220;You can ask for anything but I'll only give it to you if I'm in a good mood,&#8221; the company wrote on its Cybertruck profile about Musk&#8217;s announcement. 
<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">You can ask for anything but I'll only give it to you if I'm in a good mood
&mdash; Cybertruck (@cybertruck) <a href="https://twitter.com/cybertruck/status/1876713144698945625?ref_src=twsrc%5Etfw">January 7, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Musk said as long back as Nov. 2023 that he would discuss a possible xAI-Tesla partnership with the Tesla board. Grok is now available only to users of <a href="https://www.benzinga.com/24/12/42645821/elon-musks-xai-expands-with-new-chatbot-app">Musk-owned social media platform&nbsp;X</a>.
In December, the xAI announced that it has<a href="https://www.benzinga.com/tech/24/12/42358400/elon-musks-xai-raises-6b-for-the-2nd-time-this-year-as-it-looks-to-take-the-challenge-to-openai-google-and-jeff-bezos-backed-anthropic"> secured $6 billion in Series C funding</a> from major technology and financial institutions, marking its second major funding round in 2024. Nvidia, AMD, A16Z, Blackrock, Fidelity&nbsp;Management&nbsp;&amp;&nbsp;Research&nbsp;Company, Kingdom&nbsp;Holdings, Lightspeed, MGX, Morgan&nbsp;Stanley, OIA, QIA, Sequoia&nbsp;Capital, Valor&nbsp;Equity Partners and Vy&nbsp;Capital participated in the funding.
Grok 3, xAI&#8217;s new language model, is currently training. Musk said last week that Grok 3 is &#8220;coming soon&#8221; without giving a clearer timeline. 
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/25/01/42840097/nhtsa-opens-probe-into-26-million-tesla-vehicles-after-complaint-of-crash-involving-actually-smart-summon-feature">NHTSA Opens Probe Into 2.6 Million Tesla Vehicles After Complaint Of Crashes Linked To Actually Smart Summon Feature</a></li>
</ul>
Photo courtesy: Shutterstock

Tech

xAI's Grok Chatbot To Be Integrated Into Tesla Vehicles 'Soon,' Says Elon Musk

At CES 2025, Intel unveils new adaptive control solution, next-gen discrete graphics and AWS virtual design environment.

INTC

Reported Earlier, Intel Introduces ACU U310 And Whole-Vehicle Platform To Accelerate EV And SDV Development

Reported Earlier, Marcus & Millichap Secures $174M In Financing For 348-Unit New Jersey Multifamily Asset

Return of Capital Update
<ul>
<li>The Plains Board of Directors has approved an increase in the quarterly distribution payable in February 2025 for both PAA common units and PAGP Class A shares from $0.3175 per unit to $0.38 per unit. On an annualized basis, the distribution represents a $0.25 per unit, or 20%, increase from the distribution paid in November 2024.</li>
</ul>

PAGP

Reported Earlier, Plains All American Expands Crude Oil Footprint With $670M Acquisitions, Boosts Distribution Quarterly By 20%

Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>) will release its fourth-quarter financial results before the opening <a href="https://www.benzinga.com/quote/c/earnings">bell on Wednesday, Jan. 15</a>.
Analysts expect the New York-based company to report quarterly earnings at $1.21 per share, up from 84 cents per share in the year-ago period. Citigroup projects quarterly revenue of $19.42 billion, compared to $17.44 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Citigroup shares gained 1.3% to close at $73.68 on Tuesday&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; .
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/C/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>B of A Securities analyst Ebrahim Poonawala maintained a Buy rating and raised the price target from $90 to $95 on Jan. 7, 2025. This analyst has an accuracy rate of 66%.</li>
<li>Keefe, Bruyette &amp; Woods analyst David Konrad maintained an Outperform rating and boosted the price target from $82 to $85 on Jan. 3, 2025. This analyst has an accuracy rate of 72%.</li>
<li>Oppenheimer analyst Chris Kotowski maintained an Outperform rating and cut the price target from $110 to $102 on Jan. 3, 2025. This analyst has an accuracy rate of 86%.</li>
<li>Goldman Sachs analyst Richard Ramsden maintained a Buy rating and boosted the price target from $72 to $81 on Dec. 6, 2024. This analyst has an accuracy rate of 69%.</li>
<li>Piper Sandler analyst Scott Siefers maintained an Overweight rating and raised the price target from $73 to $80 on Dec. 3, 2024. This analyst has an accuracy rate of 69%.</li>
</ul>
Considering buying Citi stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="575" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/08025853/image-36-1024x575.png" alt="" class="wp-image-723274" style="width:657px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/08025853/image-36-1024x575.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/08025853/image-36-300x168.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/08025853/image-36-768x431.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/08025853/image-36.png 1117w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read This Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/price-target/25/01/42846607/bank-of-new-york-mellon-earnings-are-imminent-these-most-accurate-analysts-revise-forecasts-ahead-of-earnings-call">Bank of New York Mellon Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call</a></li>
</ul>

Price Target

Analyst Ratings

Citigroup Gears Up For Q4 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Analysts at <a href="https://www.benzinga.com/topic/truist-securities">Truist Securities</a> initiated coverage on 24 large-cap, regional, and trust banks, as well as credit card companies. They anticipate strong earnings growth over the next two years, projecting an annual increase of 12-15% fueled by factors like improving loan growth, a steeper yield curve, and ample capital for expansion.
What Happened: Forecasting a favorable environment for banks in 2025 and 2026, the analysts at Truist foresee a less stringent regulatory environment, with more clarity and flexibility for banks regarding mergers and acquisitions, and the deployment of excess capital.
The note highlighted that the banking stocks were de-rated during the first two years of Trump 1.0 because the yield curve was flattened and late-cycle macro concerns surfaced, even as the administration enacted bank-friendly tax reform and regulatory tailoring. However, according to the brokerage, a little Fed easing and a steeper curve are necessary for the stocks to be re-rated and two rate cuts are expected in 2025, as hinted by Fed during their December meeting. 
According to Truist, while bank valuations have increased, they remain relatively attractive compared to historical levels. They currently trade at a price-to-book value (P/TBV) below their post-financial crisis average, and at a significant discount to the broader market. The note adds that given the current market valuations, bank stocks appear undervalued relative to the S&amp;P 500.
However, despite Truist beliefs that the sector offers attractive opportunities, careful stock selection is crucial according to them. &#8220;While we're not at &#8216;close your eyes and buy ‘em levels,&#8217; we still see attractive opportunities across the sector and view stock selection as increasingly important,&#8221; the note said.
See Also: <a href="https://www.benzinga.com/markets/equities/25/01/42836744/baby-its-cold-outside-these-5-winter-ready-stocks-have-what-it-takes-to-make-you-feel-warm-and-cozy">Baby, It&#8217;s Cold Outside: These 5 Winter-Ready Stocks Have What It Takes To Make You Feel Warm And Cozy</a>
Why It Matters: Truist&#8217;s coverage on 24 financial stocks is spread across three subgroups namely, large-cap, regional, and trust banks, which is initiated with a positive outlook.
<h3 class="wp-block-heading">Large-Cap Banks</h3>
The research note examines long-term investment potential of large U.S. banks as these institutions possess significant advantages, including, &#8220;embedded offense&#8221; with the presence of strong existing businesses and customer relationships.
It also anticipates cyclical tailwinds and capital leverage for such banks given a favorable economic environment and the ability to effectively utilize capital for growth.
These factors position large U.S. banks to achieve organic growth by the expansion of core businesses, double-digit earnings growth and an attractive returns on equity.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Large Cap Banks</td>
<td>Rating</td>
<td>Price Target</td>
</tr>
<tr>
<td>Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>)</td>
<td>Buy</td>
<td>$52</td>
</tr>
<tr>
<td>Citigroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>)</td>
<td>Buy</td>
<td>$85</td>
</tr>
<tr>
<td>Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>)</td>
<td>Buy</td>
<td>$82</td>
</tr>
<tr>
<td>JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>)</td>
<td>Hold</td>
<td>$260</td>
</tr>
<tr>
<td>PNC Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>)</td>
<td>Hold</td>
<td>$215</td>
</tr>
<tr>
<td>US Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>)</td>
<td>Hold</td>
<td>$54</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">Regional Banks And Cards</h3>
Truist also initiated coverage on 14 regional financial companies outlining three key strategies for regional banks to remain competitive.
<ul>
<li>Differentiated Growth: Focus on unique and sustainable growth opportunities.</li>
</ul>
<ul>
<li>Disciplined Capital Allocation: Efficiently deploy capital to support growth and enhance shareholder value.</li>
</ul>
<ul>
<li>Navigating the Evolving Landscape: Adapt to changing market conditions, including interest rates, yield curve shifts, loan and deposit growth, and commercial real estate market dynamics.</li>
</ul>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Regional Banks</td>
<td>Rating</td>
<td>Price Target</td>
</tr>
<tr>
<td>Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>)</td>
<td>Buy</td>
<td>$51</td>
</tr>
<tr>
<td>Huntington Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBAN#NASDAQ">HBAN</a>)</td>
<td>Buy</td>
<td>$19</td>
</tr>
<tr>
<td>M&amp;T Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>)</td>
<td>Buy</td>
<td>$233</td>
</tr>
<tr>
<td>Wintrust Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WTFC#NASDAQ">WTFC</a>)</td>
<td>Buy</td>
<td>$151</td>
</tr>
<tr>
<td>Citizens Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>)</td>
<td>Hold</td>
<td>$49</td>
</tr>
<tr>
<td>Comerica Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>)</td>
<td>Hold</td>
<td>$65</td>
</tr>
<tr>
<td>First Citizens BancShares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>)</td>
<td>Hold</td>
<td>$2,303</td>
</tr>
<tr>
<td>KeyCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEY#NYSE">KEY</a>)</td>
<td>Hold</td>
<td>$19</td>
</tr>
<tr>
<td>Regions Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RF#NYSE">RF</a>)</td>
<td>Hold</td>
<td>$25</td>
</tr>
</tbody>
</table>
</figure>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Cards</td>
<td>Rating</td>
<td>Price Target</td>
</tr>
<tr>
<td>Ally Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>)</td>
<td>Buy</td>
<td>$42</td>
</tr>
<tr>
<td>American Express (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>)</td>
<td>Buy</td>
<td>$350</td>
</tr>
<tr>
<td>Capital One Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>)</td>
<td>Buy</td>
<td>$229</td>
</tr>
<tr>
<td>Discover Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>)</td>
<td>Buy</td>
<td>$233</td>
</tr>
<tr>
<td>Synchrony Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYF#NYSE">SYF</a>)</td>
<td>Hold</td>
<td>$72</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">Trust Banks And Capital Markets</h3>
Truist anticipates gradual interest rate decreases, the eventual end of quantitative tightening, and a healthy economy and capital markets providing a competitive landscape to trust banks.
According to the analysts, investors should prioritize stocks with the potential for sustained operating leverage. Which is the ability to increase profitability significantly with relatively small increases in revenue. And stocks with strong capital returns, with high levels of income through dividends and share buybacks.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Trust Banks And Capital Markets</td>
<td>Rating</td>
<td>Price Target</td>
</tr>
<tr>
<td>Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>)</td>
<td>Buy</td>
<td>$91</td>
</tr>
<tr>
<td>Charles Schwab (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>)</td>
<td>Buy</td>
<td>$86</td>
</tr>
<tr>
<td>Northern Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTRS#NASDAQ">NTRS</a>)</td>
<td>Hold</td>
<td>$110</td>
</tr>
<tr>
<td>State Street (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>)</td>
<td>Hold</td>
<td>$106</td>
</tr>
</tbody>
</table>
</figure>
Image via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/25/01/42813271/as-billionaires-load-up-on-energy-stocks-given-trumps-proposed-policies-this-analyst-highlights-charlie-mungers-1962-oil-investment-which-can-outperform-all-the-rest">As Warren Buffett And Other Billionaires Load Up On Energy Stocks, This Analyst Highlights Charlie Munger&#8217;s 1962 Oil Investment Which Can &#8216;Outperform All The Rest&#8217;</a></li>
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Analyst Color

Long Ideas

Market Summary

Initiation

General

ALLY

FCNCA

FITB

HBAN

NTRS

SCHW

WTFC

Yield Curve Normalization, Cheap Valuation, EPS Growth To Boost Banks In 2025: Truist Initiates Coverage On These 14 Regional Names

Quantum computing stocks faced a sharp decline following remarks from&nbsp;Jensen Huang, CEO of&nbsp;Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>). During Nvidia&#8217;s analyst day, Huang expressed optimism about quantum computing&#8217;s future but warned that practical applications might be 15 to 30 years away.
What Happened: Huang highlighted that while quantum computing is effective for small data and big compute tasks, it struggles with large data due to its microwave-based communication. He emphasized the necessity of classical computers for error correction, positioning Nvidia as a significant player in the classical-quantum computing space. Nvidia collaborates with nearly every quantum computing company worldwide, extending their CUDA platform to quantum applications.
&#8220;If you kind of said 15 years for very useful quantum computers, that would probably be on the early side. If you said 30, it&#8217;s probably on the late side,&#8221; Huang said.
&#8220;If you picked 20, I think a whole bunch of us would believe it.&#8221;
Following Huang&#8217;s comments, quantum computing stocks saw a notable drop in overnight trading in Robinhood on Wednesday. IonQ Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NYSE">IONQ</a>) fell by 10.75%, Quantum Computing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QUBT#NASDAQ">QUBT</a>) declined by 12.86%, and D-Wave Quantum Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QBTS#NYSE">QBTS</a>) and Rigetti Computing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>) experienced decreases of 14.14% and 13%, respectively. The market&#8217;s reaction reflects investor concerns over the extended timeline for quantum computing advancements.
Why It Matters: The recent downturn in quantum computing stocks underscores the challenges and uncertainties facing the sector. As highlighted by&nbsp;Jim Cramer, the <a href="https://www.benzinga.com/news/global/25/01/42781091/jim-cramer-warns-day-is-not-near-enough-to-justify-the-current-valuations-of-quantum-computing-nuclear-power-stocks">long development timelines </a>and current market valuations raise concerns for investors. Despite the U.S. quantum computing market&#8217;s projected growth from $138.2 million in 2022 to $1.2 billion by 2030, the path to practical applications remains lengthy.
Quantum computing is often <a href="https://www.benzinga.com/markets/equities/24/12/42638753/quantum-computing-the-new-ai-a-look-at-the-rapidly-expanding-market-and-top-stocks-for-2025">compared to&nbsp;artificial intelligence</a>&nbsp;in terms of its transformative potential. Experts predict it will drive breakthroughs in fields like cryptography, drug discovery, and optimization. However, the technology&#8217;s reliance on qubits, which can represent multiple states simultaneously, means it still faces significant hurdles before it can match the speed and efficiency of classical computers.
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</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Shutterstock

IONQ

QBTS

QUBT

RGTI

Nvidia's Jensen Huang Said Something That Has All Quantum Computing Stocks Tumbling: QUBT And RGTI Down 13%, IONQ Down 11%

With U.S. stock futures trading higher this morning on Wednesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects UniFirst Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNF#NYSE">UNF</a>) to report quarterly earnings at $2.22 per share on revenue of $606.62 million before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. UniFirst shares gained 2.5% to $209.76 in after-hours trading.</li>
<li>Cal-Maine Foods, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CALM#NASDAQ">CALM</a>) posted better-than-expected results for its second quarter. The company said it set a quarterly record for total dozens sold and specialty dozens sold. It also announced a cash dividend of approximately $1.49 per share. Cal-Maine shares climbed 3.8% to $107.60 in the after-hours trading session.</li>
<li>Analysts are expecting Acuity Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AYI#NYSE">AYI</a>) to post quarterly earnings at $3.89 per share on revenue of $956.18 million. The company will release earnings before the markets open. Acuity Brands shares fell 0.3% to $303.00 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>AAR Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIR#NYSE">AIR</a>) posted stronger-than-expected second-quarter results. The company reported quarterly earnings of 90 cents per share, which beat the analyst consensus estimate of 84 cents. Quarterly revenue came in at $686.1 million, which beat the analyst consensus estimate of $654.18 million. AAR shares surged 5.8% to $65.35 in the after-hours trading session.</li>
<li>Analysts expect PriceSmart, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSMT#NASDAQ">PSMT</a>) to post quarterly earnings at $3.68 per share on revenue of $751.49 million after the closing bell. PriceSmart shares gained 0.6% to close at $92.22 on Tuesday.</li>
</ul>
Check This Out: 
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<li><a href="https://www.benzinga.com/analyst-ratings/price-target/25/01/42846607/bank-of-new-york-mellon-earnings-are-imminent-these-most-accurate-analysts-revise-forecasts-ahead-of-earnings-call">Bank of New York Mellon Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call</a></li>
</ul>
Photo courtesy: Shutterstock

CALM

UniFirst, Acuity Brands And 3 Stocks To Watch Heading Into Wednesday

Combining AUO's Display HMI and Himax's Most Comprehensive Automotive IC Technologies to Shape the Future of Smart, Sustainable In-Car Displays

HIMX

Reported Earlier, Himax And AUO Unveil Next-Generation AmLED Automotive Display Platform At CES 2025

&nbsp;&nbsp; Integrated Gas
<figure class="table"> 
<table>
<tbody>
<tr>
<td>$ billions</td>
<td>Q3'24</td>
<td>Q4'24 Outlook</td>
<td>Comment</td>
</tr>
<tr>
<td colspan="4">Adjusted EBITDA:</td>
</tr>
<tr>
<td>Production (kboe/d)</td>
<td>941</td>
<td>880 - 920</td>
<td>Scheduled maintenance at Pearl GTL in Qatar in Q4'24.</td>
</tr>
<tr>
<td>LNG liquefaction volumes (MT)</td>
<td>7.5</td>
<td>6.8 - 7.2</td>
<td>Lower feedgas, and fewer cargos due to the timing of liftings.</td>
</tr>
<tr>
<td>Underlying opex</td>
<td>1.1</td>
<td>1.0 - 1.2</td>
<td>&nbsp;</td>
</tr>
<tr>
<td colspan="4">Adjusted Earnings:</td>
</tr>
<tr>
<td>Pre-tax depreciation</td>
<td>1.4</td>
<td>1.2 - 1.6</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Taxation charge</td>
<td>0.9</td>
<td>0.5 - 0.8</td>
<td>&nbsp;</td>
</tr>
<tr>
<td colspan="4">Other Considerations:</td>
</tr>
<tr>
<td colspan="4">Trading &amp; Optimisation results are expected to be significantly lower than Q3'24, driven by the (non-cash)&nbsp; impact of expiring hedging contracts. Q4'24 exploration well write-offs are expected to be ~$0.3 billion.</td>
</tr>
</tbody>
</table>
</figure>
 &nbsp;

SHEL

Shell Projects Mixed Q4 2024 Results With LNG Volumes Between 6.8 And 7.2 MT, Citing Seasonality And Maintenance Impacts

<ul>
<li>Galapagos intends to create a new company with approximately €2.45 billion in cash dedicated to building a pipeline of innovative medicines through transformational transactions</li>
<li>Galapagos will gain full global development and commercialization rights to its pipeline, focusing on accelerating cell therapies and building a global, decentralized manufacturing network</li>
<li>Galapagos to implement a strategic reorganization to position the Company for long-term growth and cell therapy leadership in oncology</li>
</ul>

GLPG

Galapagos Plans Spin-Off Of €2.45B New Entity SpinCo, To Build A Pipeline Of Transformational Medicines

Micron's HBM advanced packaging investment of approximately US $7 billion (SG$9.5 billion) through the end of the decade and beyond will initially create around 1,400 jobs, with site expansion plans to reach an estimated 3,000 jobs in the future. These new roles will include functions such as packaging development, assembly and test operations.

Reported Earlier, Micron Strengthens Semiconductor Ecosystem With $7B Singapore HBM Facility

Macro Economic Events

Econ #s

Economics

Germany Retail Sales (MoM) For November -0.6% Vs. 0.5% Est.; -1.5% Prior

Germany Factory Orders (MoM) For November -5.4% Vs. -0.3% Est.; -1.5% Prior

<ul>
<li>Gross cash proceeds at closing of approximately $701 million</li>
<li>Advances Goodyear Forward transformation plan, optimizes portfolio of brands</li>
<li>Goodyear to supply Dunlop tires to Sumitomo Rubber Industries pursuant to a five-year Transition Offtake Agreement in Europe</li>
<li>Goodyear to license back the Dunlop trademarks for use on commercial (truck) tires, and retains its rights to the Dunlop trademarks for use on motorcycle tires in Europe and Oceania</li>
</ul>

SMTUF

Reported Earlier, Goodyear Divests Dunlop Brand For $701M To Sumitomo, Retains Motorcycle Tire Rights In Europe

Kimbell intends to use the net proceeds from the offering for the repayment of outstanding borrowings under its revolving credit facility. At the closing of the pending acquisition of oil and natural gas mineral and royalty interests held by&nbsp;Boren Minerals (the "Acquisition"), as described in Kimbell's Current Report on Form 8-K filed with the Securities and Exchange Commission (the "SEC") on January 7, 2025, Kimbell intends to fund the cash portion of the purchase price of the Acquisition and related fees and expenses from future borrowings under its revolving credit facility

Reported Earlier, Kimbell Royalty Partners Prices $149M Upsized Public Offering Of 10M Common Units At $14.90/Unit

The Enduring Advantage

Tech Concentration: A Global Phenomenon

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Short sellers targeting major auto stocks, growing their positions - S3 Partners

Simplify Volt RoboCar Disruption and Tech ETF declares annual distribution of $0.1482

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