Dodge-maker Stellantis Issues Profit Warning: Shares Drop 12%
September 30, 2024
Breaking News
Image source: Wikimedia Commons
Dodge-maker Stellantis issues profit warning; shares drop 12% 📉 The French-Italian conglomerate, known for brands such as Chrysler, Dodge, Jeep and Maserati, warned of lower-than-expected sales “across most regions” in the second half of the year. It now pencils in an adjusted operating income (AOI) margin between 5.5% to 7.0% for the full-year 2024 period, down from a “double digit” outlook. CNBC reports.
EdgeUp
👓 MetaVision: Hands-on with Meta’s Orion AR glasses prototype and the possible future of computing. CNBC reports.
🚗 AutoFall: Volkswagen cuts 2024 outlook as car demand falters. Reuters reports.
💰 ChipDeal: Intel and US to finalise $8.5 bln in chips funding by year-end, FT reports. Reuters reports.
🔄 Siem-Shift: Siemens CFO expects full-year sales growth below forecasts. Yahoo Finance reports.
✈️ ITA-Takeoff: ITA expects higher full-year revenue as it prepares to join Lufthansa group. Reuters reports.
💰 ValuAI: OpenAI CFO tells investors funding round should close this week despite executive departures. CNBC reports.
Top 5 Movers in Early Pre-Market
(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.
1. $KXIN: Kaixin Hldgs
Total gain: 66.55%
2. $ZCMD: ZHONGCHAO
Total gain: 50.92%
3. $DUO: Fangdd Network Group
Total gain: 47.61%
4. $GSIW: Garden Stage
Total gain: 28.92%
5. $RELI: Reliance Global Group
Total gain: 23.28%
A Question About Risk
* Bob Iaccino is a chief market strategist and co-founder of Path Trading Partners. He joins us live every Thursday from 11 AM ET, as our Risk Management educator.
What are some key points of double top and bottom patterns?
Some key points are as follows:
- A double bottom looks like the letter "W," while a double top looks like the letter "M."
- A double bottom consists of two lows, and those lows do not have to be equal.
- A double top consists of two highs, and those highs do not have to be equal.
- A double bottom reverses a downtrend, and a double top reverses an uptrend. Both patterns must show a clear rotation to be considered valid.
What is the "sweet spot" in double tops and bottoms?
The sweet spot refers to the retracement level of the right-hand low in a double bottom or the right-hand high in a double top. For a double top, the right side must retrace at least 76.4% of the left-side swing, from the swing high to the swing low that formed the "V" of the "M" pattern.
Additionally, the same right-side high must not touch or exceed the 123.6% extension of the left-side move, from the swing high to the base. Simply put, the right-side high should fall between the 76.4% retracement and the 123.6% extension of the left-side move.
Friday’s Biggest Movers
The closing price of the top three market percent gainers trading near or above $3 on September 27.
*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time
1. $UXIN: Uxin Limited
Total gain: +84.10%
The stock appeared to be moving on no notable news.
2. $ONCO: Onconetix
Total gain: +73.75%
The stock appeared to be moving on no notable news.
3. $JFU: 9F Inc - ADR
Total gain: +70.23%
The stock appeared to be moving on no notable news.
Today’s Notable Earnings
*Estimate and Actual numbers represent Earnings Per Share in US Dollars
VRAR: Glimpse Group
4Q 2024
After Market Close
Estimate: N/A
Actual: N/A
CCL: Carnival
3Q 2024
Before Market Close
Estimate: 1.160
Actual: N/A
ADXN: Addex Therapeutics
2Q 2024
Before Market Open
Estimate: -0.010
Actual: N/A
Today’s Key Economic Dates
Time (ET) / Report / Period
8:50 am - Federal Reserve Governor Michelle Bowman speaks
9:45 am - Chicago Business Barometer (PMI) - September
1:55 pm - Federal Reserve Chair Jerome Powell speaks
Parting Thoughts
“Asset allocation is the most important decision you will make in your investment strategy.”
― Burton G. MalkielSourced in:
“A random walk down Wall Street: The time-tested strategy for successful
investing”, by Burton G.Malkiel, published in 2015.