Volkswagen Faces Historic Union Showdown Over $18B Cost Cuts
November 20, 2024
Breaking News
Image source: Photo by Wikimedia Commons
Volkswagen Faces Historic Union Showdown Over $18B Cost Cuts. 📢 Unions at Volkswagen threaten strikes and demand shared sacrifices as the automaker pushes for deep cuts, including plant closures and pay reductions. Talks intensify amid German industrial challenges and rising global competition. Reuters reports.
EdgeUp
🔗 ChipFusion: Nvidia's Run:ai deal to get EU antitrust decision by December 20. Reuters reports.
🤖 Compli-AI: Super Micro soars after hiring new auditor in bid to stay listed. Yahoo Finance reports.
📦 WMTSurge: Walmart hikes its outlook again as shoppers spend more outside the grocery aisles. CNBC reports.
⚙️ EfficienAI: Microsoft pitches AI 'agents' that can perform tasks on their own at Ignite 2024. Yahoo Finance reports.
✈️ PlaneCut: Boeing to lay off over 2,500 workers in US as part of sweeping cuts. Reuters reports.
📊 Lowe’sResults: Lowe’s beats on earnings and hikes guidance, but still expects sales to fall this year. 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. $SLXN: Silexion Therapeutics
Total gain: 119.54%
2. $TNXP: Tonix Pharmaceuticals
Total gain: 50.21%
3. $KITT: Nauticus Robotics
Total gain: 39.52%
4. $TVGN: Tevogen Bio Holdings
Total gain: 32.35%
5. $JXJT: JX Luxventure
Total gain: 26.15%
Trading Strategies
* Bob Iaccino is a chief market strategist and co-founder of Path Trading Partners. He joins us live every Thursday from 9 AM ET for "Pre-Market Momentum”.
Screening for Short Selling Opportunities: Key Metrics to Watch
Let’s look at the screening criteria to find short selling opportunities. Think of these as filters to sift through hundreds of stocks and land on a few solid options.
- High Price-to-Earnings (P/E) Ratio: Ideally, we’re looking for stocks with a P/E ratio above 40, though 50 is even better. This is because overvalued stocks are more prone to corrections, especially in a declining trend.
- Gross Margins Under 30%: Gross margins below 30% often indicate operational inefficiency. This means the company may struggle with cost management and could face financial instability if revenues dip.
- Operating Margins Below 10%: Low operating margins combined with weak gross margins suggest the company is struggling to turn sales into profits. This is a red flag for potential short trades as these stocks tend to be more vulnerable in bear markets.
- Negative Insider Transactions: This is an optional but valuable filter. Insider selling often hints that those closest to the company foresee trouble. While not always a foolproof indicator, seeing insiders selling can confirm our bearish view.
- Short Float Over 5%: This shows us that other traders are already betting against the stock. When the short interest is above 5%, we know that we’re not the only ones seeing the downside potential, which can often reinforce our setup.
Yesterday’s Biggest Movers
The closing price of the top three market percent gainers trading near or above $3 on November 19.
*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time
1. $TRNR: Interactive Strength
Total gain: +52.58%
The company announced that Armah Sports Group's premium brand, B_FIT, is installing CLMBRs in three of its nine locations across Saudi Arabia. Armah Sports Group is actively expanding its portfolio with two key brands: the premium B_FIT and the high-end concept Optimo. Additionally, the group is developing two new concepts to further enhance its offerings. Earlier this month, the Saudi-listed company secured a $48 million credit facility to support the expansion of its clubs in major cities. Benzinga reports.
2. $XCUR:Exicure
Total gain: +49.49%
The stock appeared to be moving on no notable news.
3. $ACRS: Aclaris Therapeutics
Total gain: +46.18%
The company announced that it has entered into an exclusive licensing agreement with Biosion Inc. for the global rights—excluding Greater China—to BSI-045B and BSI-502. These are preclinical-stage, novel bispecific antibodies targeting both TSLP and IL4R. Benzinga reports.
Today’s Notable Earnings
*Estimate and Actual numbers represent Earnings Per Share in US Dollars
NVDA: NVIDIA
3Q 2025
After Market Close
Estimate: 0.750
Actual: N/A
PANW: Palo Alto Networks
1Q 2025
After Market Close
Estimate: 1.480
Actual: N/A
CPA: Copa Holdings
3Q 2024
After Market Close
Estimate: 3.430
Actual: N/A
Today’s Key Economic Dates
Time (ET) / Report / Period
11:00 am - Fed Gov. Lisa Cooks speaks
12:15 pm - Fed Gov. Michelle Bowman speaks
4:00 pm - Boston Fed President Susan Collins speaks
Parting Thoughts
“The best stock to buy may be the one you already own.”
― Peter LynchSourced in:
"One Up on Wall Street: How to Use What You Already Know to Make Money in
the Market", by Peter Lynch, published in 1989