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đź’µ Good News For Big Banks... Except For This One

Most banks are trading higher, Jim Cramer is buying the dip on this AI play and more

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Happy Tuesday! Take it to the bank. Bank on it. Big bank take little bank. It doesn't matter how you put it, bank stocks are heating up with the $XLF up more than 6% in the last month. And banks got more good news this morning, with the exception of this blue-chip name. Plus, Cramer’s new industrial stock.

—Aaron Bry

Plus, demand for lithium is soaring as the world adopts EV and other clean-tech products. Here’s how you can cash in on the trend.

MARKET SNAPSHOT

Yesterday: Big day for bulls with all major indices closing in the green. Palantir was a big winner on the day, trading up more than 14% on news that it will be included in the S&P 500.

On Our Radar: Oracle reported earnings after the close last night, and then tomorrow morning we will get CPI data for August. The expectation is for year-over-year CPI to drop from 2.9% to 2.6%.

TOP STORY

Basically: Big banks got good news this morning with the FDIC announcing that capital requirements will go up by 9%, much lower than the originally proposed 18%.

But, Goldman Sachs shares are trading lower premarket Tuesday. On Monday, the company’s CEO, David Solomon, reportedly stated that trading revenue will likely fall by 10% in the third quarter due to sluggish conditions last month. Here’s what Goldman is doing to address the growth concerns.

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As the world transitions to greener energy, demand for lithium seems set to surge, driven by its critical role in electric vehicles (EVs), energy storage systems and electric aircraft. Despite recent price volatility, lithium's long-term value proposition may remain strong. Atlas Lithium Corporation (NASDAQ: ATLX) is strategically positioning itself to capitalize on this growing demand with extensive exploration projects in Brazil. The company's focus on sustainable mining practices and advanced technologies highlights its potential to meet future needs. Learn more about Atlas Lithium here.

FIVE ZINGERS

Slumping Sales: BMW revised its 2024 financial outlook amid declining sales, and this technical issue impacting more than a million vehicles.

Earnings Reaction: Oracle shares are up nearly 10% this morning after positive results and new partnerships with these major companies.

Same Ol’, Same Ol’: Apple’s event yesterday failed to dazzle investors, but here’s why analysts aren’t changing their minds about the stock.

AUTOmotives: US autonomous vehicle sales are expected to exceed 200k in 2034 as Waymo, Cruise and other companies continue to make progress.

Your Chance At $30k Risk-Free: Benzinga's World Championship of Trading is about to take off, and all you have to do is sign up and paper trade for your chance at the prizes.

ONE FOR THE ROAD

Basically: On CNBC's “Mad Money Lightning Round,” Jim Cramer said recommended buying Vertiv Holdings Co, saying it has “come down enough.”

The Numbers: On July 24, Vertiv said second-quarter net sales rose 13% Y/Y to $1.953 billion, beating the consensus of $1.939 billion. Organic orders (excluding foreign exchange) rose 57% Y/Y in the quarter. The book-to-bill ratio stood at 1.4x in the quarter. But, Cramer isn’t a fan of this stock.

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