Research
Bernstein Initiates Saia at Outperform With $439 Price Target
Saia (SAIA) has an average rating of overweight and mean price target of $438.43, according to analysts polled by FactSet.
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Commodities
Exchange-Traded Funds, Equity Futures Mixed Pre-Bell Friday Ahead of Warsh Speech
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.1% and the actively traded Invesco QQQ Trust (QQQ) was down 0.2% in Friday's premarket activity as markets traded mixed ahead of Fed Chair Kevin Warsh's speech.US stock futures were mixed, with S&P 500 Index futures down 0.03%, Dow Jones Industrial Average futures gaining 0.02%, and Nasdaq futures slipping 0.3% before the start of regular trading.The Chicago PMI for August will be released at 9:45 am ET.Fed Chair Warsh is scheduled to deliver a presentation at the central bank's annual Jackson Hole symposium in Wyoming at 10 am ET.The University of Michigan consumer sentiment report for August is due at 10 am ET.The weekly Baker Hughes domestic oil-and-gas rig count posts at 1 pm ET.In premarket activity, bitcoin was down by 0.4%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.5% lower, Ether ETF (EETH) advanced 0.3%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was 3.3% higher.Power Play:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) was flat Direxion Daily Financial Bull 3X Shares (FAS) was down 0.2%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.1% higher.PayPal (PYPL) stock was down more than 14% after Bloomberg News reported that buyout firm Advent and payment-processor Stripe have abandoned their bid to buy the company.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.5%, the iShares US Technology ETF (IYW) was 0.1% lower, and the iShares Expanded Tech Sector ETF (IGM) was up 0.3%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was down 1.2%, while the iShares Semiconductor ETF (SOXX) declined by 0.9%.Marvell Technology (MRVL) shares were down 7% following the company's fiscal Q2 results.EnergyThe iShares US Energy ETF (IYE) was up 3%, while the State Street Energy Select Sector SPDR ETF (XLE) advanced 0.2%.BW LPG (BWLP) stock was down more than 4% before market open after the company reported lower Q2 revenue.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.3%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 0.4%, and the iShares US Consumer Staples ETF (IYK) advanced 0.1%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) was 0.1% higher. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) increased 0.1%.Toyota Motors (TM) shares were up more than 1% pre-bell after Nikkei Asia reported late Thursday that the company is planning to build an electric Sports Utility Vehicle in China.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.3%, the Vanguard Health Care Index Fund (VHT) was up 0.03%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was 0.1% lower.Eli Lilly (LLY) stock was up nearly 1% premarket after the company said that the US Food and Drug Administration approved Mounjaro to lower the risk of major adverse cardiovascular events in adults with type 2 diabetes who are at high risk for those events.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.4%, while the Vanguard Industrials Index Fund (VIS) was flat and the iShares US Industrials ETF (IYJ) was inactive.Saia (SAIA) stock was up more than 1% before the opening bell after Deutsche Bank raised its price target to $370 from $340.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.9% to $82.81 per barrel on the New York Mercantile Exchange. Natural gas was down 2.4% at $2.85 per 1 million British Thermal Units. The United States Oil Fund (USO) fell 1%, while the United States Natural Gas Fund (UNG) was 2.2% lower.Gold futures for November were down by 0.4% at $4,647.30 an ounce on the Comex. Silver futures gained 1.5% to reach $71.29 an ounce. SPDR Gold Shares (GLD) decreased 0.1%, and the iShares Silver Trust (SLV) was 1.7% higher.
Dow JonesNasdaq CompositeS&P 500$BETH$BITO$BWLP$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$LLY$MRVL$PMR$PYPL$QQQ$RTH$SAIA$SLV$SOXX$SPY$TM$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Wire
UBS Adjusts Saia Price Target to $504 From $527, Maintains Buy Rating
Saia (SAIA) has an average rating of overweight and mean price target of $469.60, according to analysts polled by FactSet.Price: $345.56, Change: $-5.07, Percent Change: -1.45%
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Wire
Saia Likely to Benefit From Demand Signals, BofA Says
Saia (SAIA) is well positioned to benefit from increasingly "constructive" demand signals from BofA Truck Shipper Survey, BofA Securities said in a Monday note.The note pointed to service and yield improvement opportunity amid an "attractive" valuation against peers after a recent stock pullback."SAIA is in the early stages of monetizing its national network, with share gains and strong operating leverage emerging," the report said.With 20-25% excess capacity in its network, the note said SAIA can win share into an emerging upcycle amid anecdotal reports of private carrier service/capacity strain.BofA upgraded the stock to buy from neutral and raised its price objective to $502 from $499.Price: $430.57, Change: $+9.75, Percent Change: +2.32%
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Research
BofA Securities Upgrades Saia to Buy From Neutral, Raises Price Target to $502 From $499
Saia (SAIA) has an average rating of overweight and mean price target of $469.60, according to analysts polled by FactSet.Price: $430.76, Change: $+9.94, Percent Change: +2.36%
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Wire
Saia Shares Rise After Citigroup Upgrade
Saia (SAIA) shares rose 1.9% in Thursday afternoon trading after Citigroup upgraded the stock to buy from neutral and adjusted its price target to $488 per share from $524.Trading volume stood at nearly 141,000 shares, compared with a daily average of over 426,000.Price: $422.68, Change: $+8.03, Percent Change: +1.94%
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Research
Citigroup Upgrades Saia to Buy From Neutral, Adjusts Price Target to $488 From $524
Saia (SAIA) has an average rating of overweight and mean price target of $471.35, according to analysts polled by FactSet.
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Wire
Saia Shares Fall After Citigroup Downgrade
Saia (SAIA) shares fell 1.6% on Monday after Citigroup downgraded the stock to neutral from buy and adjusted its price target to $524 per share from $516.Trading volume stood at over 485,000 shares compared with a daily average of 454,834.Price: $476.23, Change: $-6.64, Percent Change: -1.38%
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Research
Citigroup Downgrades Saia to Neutral From Buy, Adjusts Price Target to $524 From $516
Saia (SAIA) has an average rating of hold and mean price target of $461.32, according to analysts polled by FactSet.
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Wire
Saia Opens New Terminal in Pennsylvania
Saia (SAIA) reported Monday the opening of its new terminal in York, Pennsylvania, expanding its network in the Northeast.The York terminal has 74 doors, supporting higher shipment volumes, better transit times and services, the company said.Price: $443.44, Change: $+9.22, Percent Change: +2.12%
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