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Happy Wednesday! And hope anyone that’s reading this in the Florida area stays safe. Today, we’ll be taking a look at some of the insurance stocks that are taking a hit on the anticipation of Hurricane Milton. Plus, is the DOJ really breaking Google up?

—Aaron Bry

Plus, the lithium trade is hot right now. And if you’re still looking for a way to play it, look no further than today’s partner.

MARKET SNAPSHOT

Yesterday: The overall market essentially erased all of Monday’s losses, closing right around all-time highs. Palantir was a notable gainer, trading up more than 6% as the stock continued to show strength.

On Our Radar: CPI data is out before the open tomorrow, plus bank earnings are on the horizon. Also, later this afternoon we’ll hear from a number of Fed speakers.

TOP STORY

Back-To-Back Hurricanes Batter Florida's Insurance Market: Stocks To Watch

What Happened: Insurance companies operating in Florida face significant challenges following two intense hurricanes: Helene and Milton.

So: After Hurricane Helene, losses for private insurers were estimated at $3 to $6 billion. Hurricane Milton, expected to make landfall Wednesday on Florida's Gulf Coast near Tampa, is adding further strain to Florida’s insurance market. Here are the stocks to watch.

PRESENTED BY SIGMA LITHIUM

Sigma Lithium Ships Lithium To Mitsubishi And Taps New CFO

Sigma Lithium Corp. (NASDAQ: SGML) is seeing demand for its Quintuple Zero Green Lithium, announcing it shipped 22,000 tons to Mitsubishi. That's another month in a row that Sigma Lithium achieved near monthly production cadence. That gives it the financial flexibility to pursue more customers and further diversify its customer base. 

But that’s not all Sigma Lithium is doing to position the company for growth. It just named Rogerio Marchini, an executive in Brazil with more than 24 years of experience, to be its new CFO and Executive Vice President of Corporate Finance. Prior to joining Sigma Lithium, Marchini was CFO of Origo, a private equity portfolio company of TPG International in the energy transition space. Marchini was in charge of a 40-person team tasked with taking the business from start-up to revenue generation.  

With the help of two former Sigma Lithium CFOs who will report to Marchini, the company is gearing up to open its second greentech plant and ship more lithium. To learn more about Sigma Lithium click here.

FIVE ZINGERS

StockWatchers: WeightWatchers stock is on the move after the company announced new compounded GLP-1 offerings.

It’s $LIT: Arcadium Lithium shares soared higher this morning on news of a buyout by Rio Tinto. Other lithium stocks are moving with it.

The Trend Is Your Friend: Chinese stocks continued to move lower in the overnight session following a violent two-week rally. Buy the dip or time to sell?

What’s New?: Boeing’s back in the news with another negative headline as the company’s strike continues.

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

Google Cries Foul As DOJ Moves To Break Up Search Giant

Basically: The DOJ is evaluating the possibility of dismantling Google as a response to antitrust violations. This development follows a recent court ruling that found Google guilty of leveraging its products to maintain a monopoly in the search market.

What Happened: The DOJ is exploring various measures to prevent Google from using its platforms like Chrome, Play, and Android to bolster its search engine dominance, according to a recent filing on Tuesday. Here’s how the stock is reacting.

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