American Axle & Mfg Hldgs 株価情報 (NYSE: AXL)

最新ニュース American Axle & Mfg Hldgs (NYSE:AXL) 株価情報

American Axle & Mfg Hldgs

American Axle & Mfg Holdings Inc is engaged in manufacturing, engineering, designing and validation of driveline systems and related components and chassis modules for light trucks, SUVs, crossover vehicles, passenger cars, and commercial vehicles. The company's segment includes Driveline and Metal Forming. It generates maximum revenue from the Driveline segment.

American Axle & Manufacturing Holdings, Inc. Common Stock

American Axle & Mfg Holdings Inc

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Axiologix Inc

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American Axle & Manufacturing Holdings shares are trading lower after the company reported preliminary FY24 financial results. Also, the company announced it will acquire all outstanding shares of Dowlais Group.

American Axle &amp; Manufacturing (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>) has entered into an agreement to purchase all outstanding shares of Dowlais Group plc (DWL) <a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/n43295144/aam-announces-combination-with-dowlais-for-1-44-billion-in-cash-and-stock" rel="noreferrer noopener">for about $1.44 billion</a>.
This acquisition will involve a mix of cash and shares, creating a huge entity in the global driveline and metal-forming industries.
Approved by the boards of both companies, the deal aims to expand the American Axle&#8217;s product portfolio, spanning various vehicle types, including both internal combustion engine and electric vehicles.
The terms of the deal outline that each Dowlais shareholder will receive 0.0863 shares of American Axle, along with 42 pence in cash for every Dowlais share they hold.
Furthermore, Dowlais will distribute a final dividend of up to 2.8 pence per share for the 2024 fiscal year. The overall value of the transaction is estimated at 85.2 pence per Dowlais share, marking a 25% premium compared to its closing price on January 28, 2025.
Upon completion, the newly formed company is expected to have American Axle&nbsp;shareholders owning 51% and Dowlais shareholders holding 49%.
Also Read: <a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/n43295144/aam-announces-combination-with-dowlais-for-1-44-billion-in-cash-and-stock" rel="noreferrer noopener">Oracle Teams Up With Elon Musk&#8217;s Starlink To Supercharge Global Enterprise Communication</a>
&#8220;This announcement marks another key milestone in our continued long-term strategic growth plan,&#8221; said&nbsp;American Axle&#8217;s Chairman and CEO David C. Dauch.
&#8220;Together with Dowlais, we will have the powertrain-agnostic product portfolio, global reach, commitment to innovation and financial strength to meet the needs of customers and succeed in a dynamic market environment.&#8221;
The company expects the deal to deliver approximately&nbsp;$300 million&nbsp;in annual run rate cost synergies&nbsp;and high earnings accretion in the first full year following the transaction&#8217;s close. Also, American Axle&nbsp;forecasts strong financial results following the merger, with annual revenues of about $12 billion&nbsp;on a non-adjusted combined basis.
After the deal is finalized, the headquarters of the merged company will stay in Detroit, Michigan, with David C. Dauch, American Axle&#8217;s current Chairman and CEO, at the helm.
The transaction is anticipated to be completed by the end of 2025. The company held $542.5 million in cash and <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n41841965/aam-reports-third-quarter-2024-financial-results" rel="noreferrer noopener">equivalents as of September 30, 2024.</a>
Following the completion, Dowlais shares will be delisted from the London Stock Exchange, while American Axle&nbsp;will continue to trade under its current NYSE ticker symbol, &#8220;AXL&#8221;.
Outlook: American Axle&nbsp;expects FY24 sales of $6.10 billion &#8211; $6.15 billion (consensus $6.125 billion). Adjusted EBITDA of $740 million &#8211; $750 million. Adjusted <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">free cash flow of $220 million &#8211; $230 million.</a>
Price Action: AXL shares traded lower by 8.25% at $5.35 premarket at last check Wednesday.
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Image via Shutterstock.

Equities

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News

Movers

General

American Axle's $1.44 Billion Power Play: Agrees To Buy UK's Dowlais To Supercharge EV & Auto Expansion

U.S. stock futures were mixed this morning, with the Nasdaq futures gaining around 0.4% on Wednesday.
Shares of Manhattan Associates, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MANH#NASDAQ">MANH</a>) fell sharply in today's pre-market trading following <a href="https://www.benzinga.com/quote/MANH/earnings">soft FY25 guidance.</a>
Manhattan Associates said it sees FY2025 adjusted earnings of $4.45 to $4.55 per share, versus market estimates of $4.91 per share. The company expects sales of $1.060 billion to 1.070 billion, versus projections of $1.14 billion.
Manhattan Associates shares dipped 23.4% to $225.92 in the pre-market trading session.
Here are some other stocks moving lower in pre-market trading.
<ul>
<li>Globalstar, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSAT#NYSE">GSAT</a>) shares dipped 21.5% to $1.4999 in pre-market trading.</li>
<li>LendingClub Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LC#NYSE">LC</a>) fell 21% to $13.30 in pre-market trading following worse-than-expected reported fourth-quarter EPS results.</li>
<li>Avnet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVT#NASDAQ">AVT</a>) shares fell 7.4% to $48.56 in pre-market trading following weak quarterly earnings.</li>
<li>Teva Pharmaceutical Industries Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>) fell 6.4% to $20.16 in pre-market trading following fourth-quarter reported financial results.</li>
<li>Victoria&#8217;s Secret &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSCO#NYSE">VSCO</a>) dipped 6.3% to $35.51 in pre-market trading. Victoria&#8217;s Secret announced that Chief Financial and Administrative Officer Timothy Johnson is retiring in June 2025 and Scott Sekella has been appointed Chief Financial Officer.</li>
<li>Danaher Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>) fell 6.2% to $232.54 in pre-market trading after the company reported quarterly adjusted EPS below estimates..</li>
<li>American Axle &amp; Manufacturing Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>) fell 6% to $5.47 in pre-market trading. American Axle &amp; Manufacturing and Dowlais announced plans to merge in a $1.44 billion cash-and-stock deal.</li>
</ul>
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<li><a href="https://www.benzinga.com/25/01/43263799/wall-streets-most-accurate-analysts-spotlight-on-3-tech-telecom-stocks-delivering-high-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Spotlight On 3 Tech &amp; Telecom Stocks Delivering High-Dividend Yields</a></li>
</ul>

Pre-Market Outlook

Markets

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GSAT

MANH

TEVA

VSCO

Manhattan Associates, LendingClub And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session

Preliminary Full Year 2024 Financials AAM provided preliminary unaudited full year 2024 estimated results:
<ul>
<li>AAM is estimating sales in the range of $6.10 - $6.15 billion.</li>
<li>AAM is estimating Adjusted EBITDA in the range of $740 - $750 million.</li>
<li>AAM is estimating Adjusted free cash flow in the range of $220 - $230 million.</li>
</ul>
The foregoing estimated financial results for the fiscal year ended December 31, 2024 are preliminary, unaudited and represent the most recent current information available to AAM and its management. AAM's actual results may differ from these estimated financial results, including due to the completion of its financial closing procedures and final adjustments.

AAM Reports Preliminary 2024 Financials: Sees Sales Of $6.10B-$6.15B, Adjusted EBITDA Of $740M-$750M And Adjusted FCF Of $220M-$230M

<ul>
<li>Creates leading global driveline and metal forming supplier with comprehensive product portfolio and diversified customer base</li>
<li>Combination will have expanded and balanced geographic presence across multiple automotive segments supporting ICE, Hybrid and Electric powertrains; expected to generate annual revenues of approximately $12 billion on a non-adjusted combined basis</li>
<li>Expected to deliver approximately $300 million annual run rate cost synergies and high earnings accretion in the first full year following the close of the transaction</li>
<li>Strengthened cash flow profile and balance sheet to accelerate deleveraging and shareholder value creation</li>
</ul>

American Axle & Manufacturing And Dowlais To Merge In $1.44B Cash-And-Stock Deal, Creating Global Driveline Leader

Barclays analyst Dan Levy maintains American Axle &amp; Mfg Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>) with a Equal-Weight and lowers the price target from $8 to $7.

Price Target

Analyst Ratings

Barclays Maintains Equal-Weight on American Axle & Mfg Hldgs, Lowers Price Target to $7

American Axle & Manufacturing shares are trading higher after the company reported better-than-expected Q3 financial results.

Guidance

American Axle & Manufacturing Revises FY24 Outlook: Sees Net Sales Of $6.1B-$6.15B Vs. $6.22B Estimate (Prior View: $6.1B-$6.3B)

American Axle &amp; Mfg Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>) reported quarterly earnings of $0.20 per share which beat the analyst consensus estimate of $(0.05) by 500 percent. The company reported quarterly sales of $1.505 billion which beat the analyst consensus estimate of $1.504 billion by 0.04 percent. This is a 3.03 percent decrease over sales of $1.552 billion the same period last year.

Earnings

Earnings Beats

American Axle & Mfg Hldgs Q3 2024 Adj. EPS $0.20 Beats $(0.05) Estimate, Sales $1.505B Beat $1.504B Estimate

American Axle &amp; Manufacturing Holdings, Inc. (AAM), (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>) announced today that it has entered into a definitive agreement to sell its commercial vehicle axle business and related assets in India (AAM India Manufacturing Corporation Pvt., Ltd. or AAMIMCPL), to Bharat Forge Limited (BFL), for a purchase price of $65 million, subject to certain customary adjustments at closing. The business being sold generated approximately $156 million of sales in the last twelve months ending June 30, 2024.&nbsp;
&nbsp;
BFL is the Pune-based flagship company of Kalyani Group, a global provider of high-performance and safety critical components and solutions to multiple sectors including automotive, rail transportation, defense, construction &amp; mining, aerospace, marine and energy. The company has manufacturing facilities in India, Europe, and North America.
The scope of the transaction includes AAM's manufacturing facilities in Pune and Chennai, which are focused on light, medium and heavy commercial vehicle axles. It also includes AAM's Pune Engineering and Development Center. Excluded from the transaction are the AAM components manufacturing facility in Chakan and the Pune Business Office, which provides Engineering, IT and Procurement shared services for AAM's operations around the world.

Asset Sales

American Axle Offloads India Axle Business to Bharat Forge, Deal Valued at $65M

ADNT

Shares of auto supplier stocks are trading lower following weak guidance from Stellantis, which could be causing concern for the sector.

Deutsche Bank analyst Edison Yu reinstates American Axle &amp; Mfg Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>) with a Hold and announces $6 price target.

Initiation

Deutsche Bank Reinstates Hold on American Axle & Mfg Hldgs, Announces $6 Price Target

Investors in American Axle &amp; Manufacturing Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/axl#NYSE">AXL</a>) need to pay close attention to the stock based on moves in the options market lately. That is because the Oct. 18, 2024 $4.00 Call had some of the highest implied volatility of all equity options today.
<h2>What is Implied Volatility?</h2>
Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.
<h2>What do the Analysts Think?</h2>
Clearly, options traders are pricing in a big move for American Axle shares, but what is the fundamental picture for the company? Currently, American Axle is a Zacks Rank #3 (Hold) in the Automotive - Original Equipment industry that ranks in the Bottom 38% of our Zacks Industry Rank. Over the last 60 days, no analysts have increased their earnings estimates for the current quarter, while three analysts have revised their estimates downward. The net effect has taken our Zacks Consensus Estimate for the current quarter from 5 cents per share to 2 cents in that period.
Given the way analysts feel about American Axle right now, this huge implied volatility could mean there&#39;s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.
<a href="https://www.zacks.com/stock/news/2333214/do-options-traders-know-something-about-american-axle-axl-stock-we-don-t?cid=CS-BENZ-FT-tale_of_the_tape|options-2333214">To read this article on Zacks.com click here.</a>

Options

Small Cap

Do Options Traders Know Something About American Axle Stock We Don't?

B of A Securities analyst John Murphy maintains American Axle &amp; Mfg Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>) with a Underperform and raises the price target from $7 to $7.5.

B of A Securities Maintains Underperform on American Axle & Mfg Hldgs, Raises Price Target to $7.5

After a blistering Thursday that saw the S&amp;P 500 close with its best session in nearly two years — up 2.3% — Wall Street&#8217;s price action turned sluggish on a Friday lacking <a href="https://www.benzinga.com/topic/interest-rates">market-moving economic events.</a>
By midday in New York, major indices were slightly positive or hovering around the flat line, signaling a slowdown in the bullish sentiment compared to the previous session.
Since the beginning of the week, the S&amp;P 500 is down 0.5%, with a few hours of trading left to determine whether the U.S. stock market can avoid closing in the red for the fourth consecutive week.
Meanwhile, there's a renewed demand for long-dated U.S. Treasury bonds, with yields declining by about 6 basis points on both the 10-year and 30-year notes. As a result, the popular iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) rallied 1%, snapping a three-session losing streak.
The dollar slightly weakened, slipping 0.5% against the Japanese yen after three consecutive days of gains.
Traders now see nearly equal odds of a 50-basis-point or a 25-basis-point rate cut by the Federal Reserve in September, according to the CME Group&#8217;s FedWatch tool.
In commodities, oil is up 0.7%, with West Texas Intermediate (WTI) light crude poised for its third consecutive session of gains.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) plunged 2% after rallying nearly 12%, marking its best-performing day since February 2022.
<h1 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h1>
<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>S&amp;P 500</td>
<td>5,329.24</td>
<td>0.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,426.22</td>
<td>0.1 %</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>39,435.12</td>
<td>0.0%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,075.91</td>
<td>-0.5%</td>
</tr>
</tbody>
</table>
</figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent080924&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;rose 0.2% to $531.66.</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;was flat at $394.74.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) inched 0.2% higher to $448.94.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.5% to $205.88.</li>
<li>The Health Care Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) outperformed, up by 0.4%. The Industrial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>) lagged, down by 0.2%.</li>
</ul>
<h1 class="wp-block-heading">Friday&#8217;s Stock Movers</h1>
<ul>
<li>Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) climbed 1.5%, building on the previous day&#8217;s 11% surge following the announcement of a partnership with Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) to deliver advanced cloud, artificial intelligence, and analytics capabilities to U.S. defense and intelligence agencies. Shares of Palantir are on track to close at the highest level since February 2021.</li>
<li>Eli Lilly &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) surged over 6% after several investment banks raised their price targets, following a strong earnings report last quarter. </li>
<li>Cisco Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) declined over 1% after revealing plans for thousands of job cuts, marking its second round of layoffs this year, as the company redirects its focus toward fast-growing sectors such as cybersecurity and artificial intelligence, Reuters reported.</li>
</ul>
Stocks reacting to company earnings are:
<ul>
<li>Akamai Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKAM#NASDAQ">AKAM</a>) up 10%,</li>
<li>CarGurus, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARG#NASDAQ">CARG</a>) up 18%, </li>
<li>Dropbox, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DBX#NASDAQ">DBX</a>) up 2.3%,</li>
<li>elf Beauty, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>) down 15%,</li>
<li>Evergy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVRG#NASDAQ">EVRG</a>) down 0.7%,</li>
<li>Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>) up 9%,</li>
<li>Five9, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>) down 26%,</li>
<li>Gilead Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>) down 3%,</li>
<li>Insulet Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PODD#NASDAQ">PODD</a>) down over 7%,</li>
<li>New Fortress Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFE#NASDAQ">NFE</a>) down 26%,</li>
<li>Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) up 0.5%,</li>
<li>Take-Two Interactive Software, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTWO#NASDAQ">TTWO</a>) up 2.5%,</li>
<li>Trade Desk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>) up 9.7%,</li>
<li>Unity Software Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/U#NYSE">U</a>) up 11%,</li>
<li>Yelp Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YELP#NYSE">YELP</a>) up 2.6%. </li>
</ul>
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</ul>
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Wall Street Momentum Stalls After Thursday's Rally, Palantir Jumps To 3-Year Highs, Bonds Rally: What's Driving Markets Friday?

American Axle Is Targeting FY24 Sales In Range Of $6.1B-$6.3B Vs. $6.05B-$6.35B Prior (Estimate: $6.22B)

American Axle &amp; Mfg Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>) reported quarterly earnings of $0.19 per share which beat the analyst consensus estimate of $0.11 by 72.73 percent. This is a 58.33 percent increase over earnings of $0.12 per share from the same period last year. The company reported quarterly sales of $1.63 billion which beat the analyst consensus estimate of $1.58 billion by 3.29 percent. This is a 3.88 percent increase over sales of $1.57 billion the same period last year.

American Axle & Mfg Hldgs Q2 Adj $0.19 Beats $0.11 Estimate, Sales $1.63B Beat $1.58B Estimate

Sentiment continues to remain upbeat as <a href="https://www.benzinga.com/news/earnings/24/08/40157665/nasdaq-r2k-futures-tumble-over-4-vix-spikes-over-100-bitcoin-plunges-hard-as-global-sell-off-deepen">stocks look to close out a volatile week</a> on a positive note. The major index futures traded modestly higher in early trading, and given the absence of any major catalysts, the market could most likely consolidate its recent gains. Traders may dread to take huge positions ahead of next week&#8217;s inflation reports and retail sales data.
The CBOE Volatility Index, commonly called VIX, fell toward the 23 level, extending its slide from Thursday. The yen has strengthened slightly against the greenback, potentially stirring anxiety among traders. Bond yields are flatlining, while the rest of global markets have fed off the strength of Wall Street. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.24%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.14%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.03%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.40%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">In premarket trading on Friday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.17% to $531.54, and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.34% to $449.61, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Last Session:
U.S. stocks turned in a stellar performance on Thursday, as a report showing a bigger-than-expected decline in jobless claims, some positive earnings reports and the yen&#8217;s weakness set in motion a wave of buying in beaten-down stocks. The jobless claims data mitigated concerns regarding the weakening of the labor market and in turn, allayed recession worries.
The averages opened higher, moved roughly sideways and took a leg-up in the afternoon before moving sideways yet again. The S&amp;P 500 had the best outing since Nov. 30, 2022, in terms of the percentage of gains, according to Marketwatch.
The buying was across the board, with IT stocks spearheading the advance.
<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>+2.87%</td>
<td>16,660.02</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+2.30%</td>
<td>5,319.31</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+1.76%</td>
<td>39,446.49</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+2.42%</td>
<td>2,084.42</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> Insights From Analysts: Fund manager Louis Navellier expects the volatility to persist in August. The month is marked by &#8220;gyrations&#8221; and &#8220;air pockets,&#8221; he said, adding that this is attributable to &#8220;many Wall Street pros, plus Europe&#8221; being on vacation. &#8220;Low trading volume in August provides fertile ground for wild market gyrations like Monday's,&#8221; Navellier said. &#8220;So I am expecting this down, up, down market action to persist until the trading volume is exhausted,&#8221; he added. David Sadkin, President at Bel Air Investment Advisors, said the markets appear to be entering into a correction phase, with the much-loved tech sector leading the way. The strategist is sanguine, as he pointed to the economy, which while slowing, is continuing to expand, the better-than-expected European GDP growth and robust earnings growth. He expects the market to end higher by year-end. If the economy does slow, the Fed has leeway to cut rates and boost liquidity by other means to cushion any potential downside, Sadkin said. &#8220;Also, as we get more clarity on the geopolitical and the US political landscape, the market will likely settle down and continue its upward trajectory,&#8221; he said. &#8220;Long-term investors will weather a slowdown by remaining dispassionate and focusing on fundamentals rather than market panic.&#8221; Upcoming Economic Data: There are no major economic data/events scheduled for the day. See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a> Stocks In Focus: Akamai Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKAM#NASDAQ">AKAM</a>) climbed about 7.5% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following the announcement of its quarterly results. The other stocks moving on earnings are CarGurus, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARG#NASDAQ">CARG</a>) (up over 11.5%), e.l.f. Beauty, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>) (down over 9%), Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>) (up over 10.50%), Doximity, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOCS#NYSE">DOCS</a>), Five9, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>) (down over 15%), Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) (up over 6%), Take-Two Interactive Software, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTWO#NASDAQ">TTWO</a>) (up over 6%), and Trade Desk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>) (up over 7%). American Axle &amp; Manufacturing Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>) and EchoStar Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATS#NASDAQ">SATS</a>) are among the key companies due to <a href="https://www.benzinga.com/calendars/earnings">release their earnings reports ahead of the market opening</a>. Commodities, Bonds And Global Equity Markets: Crude oil as well as gold futures extended their gains and the 10-year Treasury note yield slipped 4.2 points to 3.957%. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rallied strongly toward the $60.5K mark. Taking cues from the U.S. market, stocks in Asia closed mostly higher, with the tech-heavy Taiwanese market leading the gains. The Chinese market retreated on inflation data that came in more than expected and the New Zealand market also settled modestly lower, while the Singaporean market was closed for a public holiday. European stocks were higher in early trading. Read Next:<a href="https://www.benzinga.com/markets/equities/24/08/40278776/as-nvidia-leads-magnificent-7-volatility-analyst-says-these-mega-caps-are-poised-to-outperform-s"> As Nvidia Leads Magnificent 7 Volatility, Analyst Says These Mega-Caps Are Poised To Outperform Small-Caps — But There&#8217;s A Catch</a></figcaption></figure>
Image Via Shutterstock

Futures

Previews

DOCS

Nasdaq, S&P 500 Futures Climb After Thursday's Strong Rebound, Bitcoin Sizzles: Analyst Predicts A Roller Coaster Ride For Stocks Until This Happens

The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index remained in the &#8220;Extreme Fear&#8221; zone on Thursday.
U.S. stocks settled higher on Thursday, with the S&amp;P 500 index, as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), notching its best daily performance since January 2023.
On the economic data front, U.S. initial jobless claims declined by 17,000 to 230,000 in the week ending August 3, compared to market estimates of 240,000. U.S. wholesale inventories increased by 0.2% month-over-month to $903 billion in June, compared to a revised 0.5% rise in the earlier month.
US Foods Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USFD#NYSE">USFD</a>) reported better-than-expected sales for the second quarter. Eli Lilly And Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) reported better-than-expected second-quarter financial results and raised its full-year guidance.
All sectors on the S&amp;P 500 closed on a positive note, with communication services, industrials, and information technology stocks recording the biggest gains on Thursday.
The Dow Jones closed higher by around 683 points to 39,446.49 on Thursday. The S&amp;P 500 rose 2.30% at 5,319.31, while the Nasdaq Composite jumped 2.87% at 16,660.02 during Thursday's session.
Investors are awaiting earnings results from EchoStar Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATS#NASDAQ">SATS</a>), American Axle &amp; Manufacturing Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>), and AMC Networks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMCX#NASDAQ">AMCX</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 21.7, the index remained in the &#8220;Extreme Fear&#8221; zone on Thursday, versus a prior reading of 19.6.
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:<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40253347/top-3-utilities-stocks-that-could-lead-to-your-biggest-gains-this-month"> </a>
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40253347/top-3-utilities-stocks-that-could-lead-to-your-biggest-gains-this-month">Top 3 Utilities Stocks That Could Lead To Your Biggest Gains This Month</a></li>
</ul>

AMCX

USFD

S&P 500 Records Best Session Since January 2023: Investor Sentiment Improves, But Greed Index Remains In 'Extreme Fear' Zone

With U.S. stock futures trading higher this morning on Friday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects EchoStar Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATS#NASDAQ">SATS</a>) to report a quarterly loss at 25 cents per share on revenue of $3.98 billion before the opening bell, according to data from Benzinga Pro. EchoStar shares fell 0.4% to $20.00 in after-hours trading.</li>
<li>Take-Two Interactive Software Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTWO#NASDAQ">TTWO</a>) shares gained in after-hours trading after the company <a href="https://www.benzinga.com/news/earnings/24/08/40271345/take-two-interactive-software-stock-jumps-on-q2-earnings-what-investors-need-to-know">reported fiscal first-quarter financial results</a>. The company said first-quarter revenue rose 5% year-over-year to $1.34 billion. Net bookings came in at $1.22 billion, up 1% on a year-over-year basis. Take-Two shares climbed 5.3% in the after-hours trading session to $146.13.</li>
<li>Analysts are expecting American Axle &amp; Manufacturing Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>) to post quarterly earnings at 11 cents per share on revenue of $1.58 billion. The company will release earnings before the markets open. American Axle shares gained 0.3% to $6.23 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Doximity, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOCS#NYSE">DOCS</a>) <a href="https://www.benzinga.com/news/earnings/24/08/40269788/doximity-stock-soars-on-q1-earnings-the-details">reported</a> better-than-expected first-quarter financial results and issued strong FY24 revenue guidance. Doximity&#8217;s first-quarter revenue increased 17% year-over-year to $126.68 million, beating the consensus estimate of $119.92 million, according to Benzinga Pro. The company reported adjusted earnings of 28 cents per share, beating analyst estimates of 22 cents per share. Doximity shares jumped 28.5% to $32.97 in the after-hours trading session.</li>
<li>Analysts expect AMC Networks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMCX#NASDAQ">AMCX</a>) to post quarterly earnings at $1.52 per share on revenue of $601.34 million before the opening bell. AMC Networks shares gained 0.4% to $10.34 in after-hours trading.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40253347/top-3-utilities-stocks-that-could-lead-to-your-biggest-gains-this-month">Top 3 Utilities Stocks That Could Lead To Your Biggest Gains This Month</a></li>
</ul>
Photo courtesy: Take Two Interactive

Take-Two, EchoStar And 3 Stocks To Watch Heading Into Friday

American Axle & Manufacturing announces $1.44B cash and stock merger pact with Dowlais

Raises FY24 adjusted EBITDA view to $740M-$750M from $715M-$745M. Raises FY24 adjusted free cash flow view to $220M-$230M from $200M-$220M. The com...

American Axle backs FY24 revenue view $6.1B-$6.15B, consensus $6.13B

American Axle announced that it has reached an agreement with the board of the Dowlais on the terms of a recommended cash and share offer to be mad...

American Axle announces $1.44B cash, stock combination with Dowlais

Auto supplier American Axle & Manufacturing Holdings ($AXL) is buying Dowlais Group, a specialist engineering firm in the UK, for $1.44 billion. De...

M&A News: American Axle Snaps Up UK Engine Group Dowlais for $1.44 billion

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1. STOCK NEWS: Starbucks (SBUX) reported upbeat Q1 ea...

Starbucks reports Q1 beat, Frontier proposes Spirit combination: Morning Buzz

American Axle ( ($AXL) ) has issued an announcement. On January 29, 2025, American Axle & Manufacturing Holdings, Inc. announced its intention to a...

American Axle Announces Major Merger with Dowlais Group

Analyst Adam Jonas from Morgan Stanley maintained a Buy rating on American Axle (AXL – Research Report) and keeping the price target at $10.00. Ada...

Strategic Merger Drives Positive Outlook: American Axle's Buy Rating Affirmed Amid Synergy and Diversification Benefits

AAM Announces Combination with Dowlais

In a report released today, John Murphy from Bank of America Securities maintained a Sell rating on American Axle (AXL – Research Report). The comp...

Bank of America Securities Sticks to Their Sell Rating for American Axle (AXL)

American Axle & Manufacturing Holdings, Inc. (AXL) Announces Combination with Dowlais Conference Call Transcript

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Press Releases

AAM to Announce Third Quarter Financial Results on November 8

AAM Reports Third Quarter 2024 Financial Results

AAM to Present at Bank of America's Leveraged Finance Conference

AAM to Present at the UBS Global Industrials and Transportation Conference

AAM Returns to CES 2025 to Showcase Innovative Automotive Solutions

AAM Announces Combination with Dowlais for $1.44 Billion in Cash and Stock

AXL Stock Alert: Halper Sadeh LLC Is Investigating Whether the Merger of American Axle & Manufacturing Holdings, Inc. Is Fair to Shareholders

$HAREHOLDER ALERT: The M&A Class Action Firm Investigates the Merger of American Axle & Manufacturing Holdings, Inc. - AXL

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Kuehn Law Encourages AXL, FNA, DFS, and TURN Investors to Contact Law Firm

SHAREHOLDER NOTICE: Halper Sadeh LLC Investigates FNA, AXL, STAF, QTRX on Behalf of Shareholders

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