FlexShares STOXX Global Broad Infrastructure Index Fund (ARCA: NFRA)

Latest News for FlexShares STOXX Global Broad Infrastructure Index Fund (ARCA:NFRA)

FlexShares STOXX Global Broad Infrastructure Index Fund

bulls ai

Government

Regulations

Sector ETFs

Specialty ETFs

Exclusives

Interview

ETFs

DRIV

First Trust Industrials/Producer Durables AlphaDEX Fund

iShares S&P Global Clean Energy Index Fund

ICLN

IDRV

IFRA

iShares S&P Global Infrastructure Index Fund

iShares Dow Jones US Aerospace & Defense Index Fund

KARS

NFRA

PAVE

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

Insights on investment opportunities in the economy from a Benzinga interview with Michael Sayers, including $1 trillion in infrastructure spending and potential growth in technology and clean energy sectors.

EXCLUSIVE: Expert Predicts &#39;Double-Digit Growth&#39; In 2 Sectors Thanks To Major Federal Investments (CORRECTED)

Long Ideas

News

Politics

Trading Ideas

General

TOLZ

With Election Day less than two months away, odds are investors and voters will be hearing plenty about in the U.S. 

While it&#39;s often &#34;infrastructure week&#34; or &#34;infrastructure month&#34; in Washington, D.C., the U.S. has not passed a comprehensive infrastructure spending plan since the Eisenhower administration.

3 ETFs For Biden&#39;s Infrastructure Ambitions

Commodities

Global

Markets

An Intelligent Infrastructure ETF

In a landmark development, Oklahoma became the first state in the U.S. to declare self-custody of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and other cryptocurrencies a fundamental right.
What Happened: The bill proposed by Rep. Brian Hill (R) was signed into law by Oklahoma Governor Kevin Stitt (R), paving the way for greater autonomy for citizens regarding their cryptocurrency usage.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f6a8;HUGELY MASSIVE BRREAKING&#x1f6a8;: A bill protecting your ‘fundamental <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> rights' has been SIGNED INTO LAW in the state of Oklahoma. Oklahoma will now defend your: &#x2705; Right to self-custody &#x2705; Right to spend <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> and digital assets &#x2705; Right to mine <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> &#x2705; Right to run… <a href="https://t.co/KdPsmLBzDo">pic.twitter.com/KdPsmLBzDo</a>
&mdash; Dennis Porter (@Dennis_Porter_) <a href="https://twitter.com/Dennis_Porter_/status/1790529917199003836?ref_src=twsrc%5Etfw">May 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The bill mandated a legal right to use digital assets for purchasing goods and services, self-custody of digital assets using a self-hosted wallet or a hardware wallet, and even mining digital assets from home.&nbsp;
The bill also stipulated that no additional taxes would be levied on digital asset payments, treating them the same as traditional forms of payment. The bill would be effective from Nov.1 this year.
Why It Matters: The new legislation comes at a time when the country is becoming increasingly polarized over cryptocurrencies and their increased oversight.
Last week, the House <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38733156/house-challenges-sec-over-crypto-custody-rules-biden-vows-blockade">voted in favor of a resolution </a>against the SEC's controversial directive that restricted credible financial institutions from holding Bitcoin and other cryptocurrencies. President Joe Biden had threatened to veto the legislation if it reached him.&nbsp;
On the other hand, former President Donald Trump has <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38723503/trump-pledges-to-make-sure-you-can-donate-using-crypto-to-his-2024-campaign-unwittingly-se">stepped up his pro-crypto stance</a> in the election campaigns, promising to make the atmosphere more conducive so as to stop cryptocurrency companies from moving out of the country. He even said, "If you&#8217;re in favor of crypto, you better vote for Trump."
Price Action: At the time of writing, Bitcoin was exchanging hands at $65,837.53, rising 6.41% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Photo Courtesy: Shutterstock.com
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38864022/robinhood-launches-its-first-crypto-staking-offering-for-solana-but-feature-limited-to-eur">Robinhood Launches Its First Crypto Staking Offering For Solana But Feature Limited To Europe</a>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

Bitcoin Self-Custody and Home Mining Made Legal Rights in Oklahoma After Passage Of Landmark Bill

Billionaire entrepreneur Jeff Bezos&#8216; space venture Blue Origin is set to relaunch its space tourism flights after a hiatus of nearly two years, following a mission failure in 2022.
What Happened: Blue Origin, backed by billionaire Jeff Bezos, is preparing to resume its space tourism flights with the NS-25 mission on Sunday, according to Blue Origin&#8217;s <a href="https://www.blueorigin.com/news/new-shepard-ns-25-mission-announcement">official</a> website. The mission is scheduled to take off from Launch Site One in West Texas, with a launch window starting at 8:30 AM CDT / 1330 UTC.
The New Shepard rocket, which conducts short trips to the edge of space with cargo and human passengers, has been grounded since a <a href="https://www.benzinga.com/news/23/08/33779452/heres-why-jeff-bezos-blue-origin-has-fallen-behind-elon-musks-spacex">mission failure</a> in September 2022. The upcoming NS-25 mission will carry six crew members, including the first Black astronaut candidate in the United States, former Air Force Captain Ed Dwight.
The U.S. Federal Aviation Administration concluded its review of Blue Origin&#8217;s New Shepard investigation <a href="https://www.benzinga.com/news/23/12/36231321/jeff-bezos-blue-origin-to-relaunch-new-shepard-rocket-after-15-month-hiatus">last year</a>, concurring with the company&#8217;s findings. 
See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38807245/big-short-fame-investor-expects-elon-musks-tesla-shares-to-plunge-70-people-are-going-to-start-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Big Short&#8217; Fame Investor Expects Elon Musk&#8217;s Tesla Shares To Plunge 70%: &#8216;People Are Going To Start To Lose Patience&#8217;</a>
Why It Matters: This announcement comes after Blue Origin <a href="https://www.benzinga.com/general/space/24/04/38225436/bezos-space-company-announces-new-astronauts-for-blue-origins-7th-crewed-flight-who-are-the-lucky-6">announced new astronauts</a> for its 7th crewed flight in April. The company, founded by Amazon.com&#8217;s Jeff Bezos, has taken 31 astronauts into space, including Bezos himself, his brother Mark Bezos, former NFL player Michael Strahan, content creator Coby Cotton of &#8220;Dude Perfect,&#8221; and actor William Shatner.
Bezos&#8217; space venture has been making strides in the industry, with its senior vice president of lunar permanence, John Couluris, <a href="https://www.benzinga.com/news/24/03/37449722/former-spacex-mission-director-who-jumped-to-jeff-bezos-camp-expects-blue-origins-lunar-cargo-lander">expecting the company&#8217;s lunar cargo lander</a> to reach the Moon within 16 months. Blue Origin is also working on a human lander with NASA for the Artemis 5 mission, planned for 2029.
Bezos&#8217; space ambitions have not been without criticism, with former President Barack Obama expressing skepticism about the potential of space colonization to save Earth, <a href="https://www.benzinga.com/news/24/03/37864130/barack-obama-throws-shade-at-jeff-bezos-elon-musks-space-colonization-ambitions-i-look-at-them-like">slamming Bezos</a> and Elon Musk for investing in off-world relocation projects.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/05/38839620/bidens-new-tariffs-on-chinese-imports-are-a-clear-giveaway-to-these-two-tesla-rivals-jim-cramer-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Biden&#8217;s New Tariffs On Chinese Imports Are A &#8216;Clear Giveaway&#8217; To These Two Tesla Rivals, Jim Cramer Says: &#8216;I Like This Policy&#8217;</a>
Image Via Shutterstock 
<hr class="wp-block-separator has-alpha-channel-opacity" />
Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
<hr class="wp-block-separator has-alpha-channel-opacity" />
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
<hr class="wp-block-separator has-alpha-channel-opacity" />

SPACE

Travel

Jeff Bezos-Owned Blue Origin To Resume Space Tourism Flights After Nearly 2-Year Long Hiatus

Humane, the company behind the AI Pin, which received <a href="https://www.benzinga.com/news/24/04/38263133/mkbhd-bankrupted-a-company-in-41-seconds-tech-influencers-critique-of-humanes-ai-pin-stirs-debate">some bad reviews</a> after the initial hype, has announced a significant upgrade to its product. 
What Happened: <a href="https://www.benzinga.com/news/24/05/38809935/openai-just-dropped-gpt-4o-and-these-10-examples-show-it-could-completely-change-ai-chatbot-game">Humane&#8217;s AI Pin has integrated</a> OpenAI&#8217;s latest GPT-4o AI model into the device, promising improved speed and accuracy. George Kedenburg, the product design lead at Humane, took to X, formerly Twitter, and shared the news saying, &#8220;Still early, but so far lots of great improvements: 14% decrease in latency, 28% shorter answers, 33% fewer bad answers.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">all ai pins internally + a small number externally are now running gpt-4o! still early, but so far lots of great improvements: 14% decrease in latency 28% shorter answers 33% fewer bad answers beyond the numbers, everything just feels smarter and more accurate (as expected) <a href="https://t.co/H3Y6MGsOc0">pic.twitter.com/H3Y6MGsOc0</a>
&mdash; George Kedenburg III (@GK3) <a href="https://twitter.com/GK3/status/1790171601398583524?ref_src=twsrc%5Etfw">May 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: The AI Pin was named one of the &#8220;<a href="https://www.benzinga.com/news/23/10/35412753/what-is-humane-ai-pin-one-of-time-magazines-best-inventions-of-2023">Best Inventions of 2023</a>&#8221; by Time Magazine, alongside other groundbreaking products like Samsung&#8217;s Galaxy Z Flip 5 and the module Framework Laptop 16. It was expected to revolutionize the AI industry, but its <a href="https://www.benzinga.com/news/24/04/38291724/do-bad-reviews-kill-companies-mkbhd-reacts-after-humane-ai-pin-video-sparks-concern-on-social-media">initial performance did not meet expectations</a>, as previously highlighted by tech influencer&nbsp;Marques Brownlee.
OpenAI&#8217;s GPT-4o, which was <a href="https://www.benzinga.com/news/24/05/38806086/openai-tries-to-steal-googles-thunder-a-day-before-search-giants-event-unveils-gpt-4o-a-chatgpt-vers">unveiled earlier this week</a>, is a more efficient and cost-effective version of its AI model, GPT-4. It is trained on extensive internet data and is designed to handle text, audio, and images in real-time more effectively.
The latest development at OpenAI has been touted as a game-changer in the AI chatbot industry. The integration of this advanced model into the AI Pin could potentially elevate the device to a new level of performance.
Image Credits &#8211; Humane
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/general/entertainment/24/05/38840134/competition-for-disney-comcast-to-offer-streaming-bundle-of-apple-tv-netflix-peacock-at-vas?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Competition For Disney? Comcast To Offer Streaming Bundle Of Apple TV+, Netflix, Peacock At &#8216;Vastly Reduced&#8217; Price</a>
Disclaimer:&nbsp;This content was partially produced with&nbsp;the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was&nbsp;reviewed and published by Benzinga editors.

Tech

Humane AI Pin Gets GPT-4o Upgrade: 'Everything Just Feels Smarter And More Accurate'

O-I Glass, Inc. (the &quot;Company&quot;) announced that OI European Group B.V. (&quot;OIEG&quot;), an indirect wholly owned subsidiary of the Company, intends to offer, subject to market and other conditions, &euro;400 million aggregate principal amount of its senior notes due 2029 (the &quot;Notes&quot;) in a private offering (the &quot;Offering&quot;) to eligible purchasers under Rule&nbsp;144A and Regulation S of the U.S. Securities Act of 1933, as amended (the &quot;Securities Act&quot;). OIEG&#39;s obligations under the Notes will be guaranteed on a joint and several basis by Owens Illinois Group, Inc. (&quot;OI Group&quot;) and certain U.S. domestic subsidiaries of OI Group that are guarantors under OI Group&#39;s credit agreement. 
&nbsp;
OIEG expects to use the net proceeds received from this Offering, together with cash on hand, to purchase any and all of its outstanding&nbsp;2.875%&nbsp;Senior Notes due 2025 (the &quot;2025 Notes&quot;), of which &euro;500 million aggregate principal amount (approximately&nbsp;$539 million&nbsp;based on the March 29, 2024 (the last business day in March 2024) exchange rate of &euro;1.00 =&nbsp;$1.0777) are currently outstanding, pursuant to a tender offer for any and all of the 2025 Notes (the &quot;2025 Notes Tender Offer&quot;). After the expiration of the 2025 Notes Tender Offer, OIEG may, subject to applicable federal securities laws, use any net proceeds from this Offering not used to fund the 2025 Notes Tender Offer to fund one or more redemptions of the 2025 Notes not acquired in the 2025 Notes Tender Offer, purchase such 2025 Notes through open market purchases or privately negotiated transactions, satisfy and discharge the indenture governing the 2025 Notes or repay such 2025 Notes at maturity. Any net proceeds received from this Offering not used to fund the 2025 Notes Tender Offer or any such redemption, repurchase or repayment of the 2025 Notes may be used for general corporate purposes.

Offerings

O-I Glass Subsidiary OI European Group BV Launches €400M Senior Notes Offering

Inspire Veterinary (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IVP#NASDAQ">IVP</a>) reported quarterly losses of $(8.92) per share. This is a 69.45 percent increase over losses of $(29.20) per share from the same period last year. The company reported $4.83 million in sales this quarter. This is a 12.82 percent increase over sales of $4.28 million the same period last year.

Earnings

Reported Earlier, Inspire Veterinary Q1 EPS $(8.92) Up From $(29.20) YoY, Sales $4.83M Up From $4.28M YoY

This sale will be completed in conjunction with a merger between AES Brasil and Auren Energia, with AES Brasil shares valued at approximately&nbsp;11.55 Brazilian Real&nbsp;per share, before purchase price adjustments.

Reported Earlier, AES Agrees To Sell Its Equity Interest In AES Brasil To Auren Energia For ~$640M

FinVolution Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FINV#NYSE">FINV</a>) reported quarterly earnings of $0.29 per share. This is a 19.44 percent decrease over earnings of $0.36 per share from the same period last year. The company reported $438.36 million in sales this quarter. This is a 1.32 percent decrease over sales of $444.21 million the same period last year.

FINV

Reported Late Wednesday, FinVolution Gr Q1 EPS $0.29 Down From $0.36 YoY, Sales $438.36M Down From $444.21M YoY

Grab Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRAB#NASDAQ">GRAB</a>) reported quarterly losses of $(0.03) per share. This is a 50 percent increase over losses of $(0.06) per share from the same period last year. The company reported quarterly sales of $653.00 million which beat the analyst consensus estimate of $636.80 million by 2.54 percent. This is a 24.38 percent increase over sales of $525.00 million the same period last year.

GRAB

Reported Late Wednesday, Grab Hldgs Q1 EPS $(0.03) Up From $(0.06) YoY, Sales $653.00M Beat $636.80M Estimate

MSP Recovery (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LIFW#NASDAQ">LIFW</a>) reported quarterly losses of $(0.56) per share. This is a 75.11 percent increase over losses of $(2.25) per share from the same period last year. The company reported $6.00 million in sales this quarter. This is a 50.21 percent increase over sales of $4.00 million the same period last year.

LIFW

MSP Recovery Q1 EPS $(0.56) Up From $(2.25) YoY, Sales $6.00M Up From $4.00M YoY

Inhibikase Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IKT#NASDAQ">IKT</a>) reported quarterly losses of $(0.73) per share which beat the analyst consensus estimate of $(0.79) by 7.59 percent. This is a 25.51 percent increase over losses of $(0.98) per share from the same period last year.

Earnings Beats

Inhibikase Therapeutics Q1 2024 GAAP EPS $(0.73) Beats $(0.79) Estimate, Cash $9.7M

In a bid to settle thousands of lawsuits over its discontinued heartburn drug Zantac, Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) has agreed to pay up to $250 million.
What Happened: The settlement, disclosed in a Delaware court filing last week, is intended to significantly reduce Pfizer&#8217;s potential liability, <a href="https://www.ft.com/content/9f59da60-4441-42c4-b84c-6de0c3931d08">reported</a> Financial Times, citing people familiar with the deal. 
The New York-based pharmaceutical giant will pay plaintiffs between $200 million and $250 million to settle the cases.
More than 70,000 cases have been filed against various drugmakers in the Delaware state court, with smaller numbers in California, Illinois, and Philadelphia, Pennsylvania.
Pfizer, which sold Zantac between 1998 and 2006, stated that it continues to "vigorously defend against Zantac lawsuits, which we believe are not supported by reliable science". It added that it "has explored and will continue to explore opportunistic settlements of certain cases if appropriate, and has settled certain cases," according to the report.&nbsp;
"The company is confident that its Zantac products, which were reviewed and approved by the [US Food and Drug Administration], did not cause cancer when used as directed," Pfizer added.
In March 2024, French pharmaceutical company Sanofi resolved 4,000 cases outside of Delaware, settling all claims against it for an undisclosed sum.
The settlement is seen as a move to reassure investors and avoid prolonged and costly litigation, according to the report. In 2022, companies linked to the drug saw a collective $40 billion drop in value in a matter of days when an analyst note estimated potential liabilities of up to $45 billion.
See Also: <a href="https://www.benzinga.com/general/health-care/24/05/38763450/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Benzinga&#8217;s &#8216;Stock Whisper&#8217; Index: 5 Stocks Investors Secretly Monitor But Don&#8217;t Talk About Yet</a>
Why It Matters: This settlement comes after Pfizer reached an agreement to <a href="https://www.benzinga.com/general/biotech/24/05/38710835/pfizer-agrees-to-settle-over-10-000-lawsuits-about-cancer-risks-associated-with-discontinued-hear">settle over 10,000 lawsuits</a> about cancer risks associated with Zantac, marking the largest resolution in the litigation.
Despite the downward revision of the liability threat, the prospect of expensive payouts continues to weigh on companies&#8217; share prices. The exact settlement amount is yet to be finalized, as it is calculated on a per-plaintiff basis and depends on data collected by law firms on the usage years of Zantac consumers, according to the report.
Meanwhile, Pfizer is looking to expand its offerings by introducing a <a href="https://www.benzinga.com/top-stories/24/05/38798101/pfizer-follows-eli-lillys-footsteps-to-sell-medicines-directly-to-patients">direct-to-consumer medicines</a> platform under the brand &#8220;Pfizer for All.&#8221; This move aims to provide medical information, mail-order pharmacy, and telehealth services to U.S. patients.
Read Next: <a href="https://www.benzinga.com/government/24/05/38782353/barbarism-aoc-unleashes-fury-on-us-healthcare-system-as-people-are-choosing-between-medicine-and-ren?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Barbarism:&#8217; AOC Unleashes Fury On US Healthcare System As People Are &#8216;Choosing Between Medicine And Rent</a>
Image Via Shutterstock 
<hr class="wp-block-separator has-alpha-channel-opacity" />
Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
<hr class="wp-block-separator has-alpha-channel-opacity" />
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
<hr class="wp-block-separator has-alpha-channel-opacity" />

Equities

Health Care

Legal

Pfizer Settles Zantac Lawsuits, Agrees To $250M Settlement To Reduce Liability: Report

374Water (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCWO#NASDAQ">SCWO</a>) reported quarterly losses of $(0.02) per share. This is a 100 percent decrease over losses of $(0.01) per share from the same period last year. The company reported $315.278 thousand in sales this quarter. This is a 60.66 percent decrease over sales of $801.458 thousand the same period last year.

SCWO

374Water Q1 2024 GAAP EPS $(0.02) Down From $(0.01) YoY, Sales $315.278K Down From $801.458K YoY

<a target="_blank" href="https://www.benzinga.com/news/24/05/38754804/billionaire-investor-bill-ackman-grilled-by-wall-street-executives-for-anti-dei-views-report" rel="noreferrer noopener">Hedge-fund manager&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/05/38754804/billionaire-investor-bill-ackman-grilled-by-wall-street-executives-for-anti-dei-views-report" rel="noreferrer noopener">Bill&nbsp;Ackman</a>&#8216;s&nbsp;Pershing Square Holdings, Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PSHZF#OTC">PSHZF</a>) shed shares of a home improvement retailer and reduced its stake in a fast-casual&nbsp;diner,&nbsp;while maintaining most of its other holdings, according to a 13F report filed with the SEC on Wednesday.
Patience Wearing Thin?&nbsp;Pershing Square divested all 1.25 million shares it held in&nbsp;Lowe&#8217;s&nbsp;Companies, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) by the end of the fourth quarter, valued at $277.19 million&nbsp;at the time. Retailers are navigating a challenging economic landscape as cautious consumers withhold discretionary spending.
Lowe&#8217;s&nbsp;competitor,&nbsp;Home Depot, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>), recently reported first-quarter revenue slightly below estimates, with earnings per share meeting expectations. The company also hinted at ongoing softness in larger consumer discretionary projects.&nbsp;Lowe&#8217;s&nbsp;is set&nbsp;to announce its quarterly results on May 21.
Appetite Waning?&nbsp;Ackman&#8217;s&nbsp;firm also reduced its holdings in&nbsp;Chipotle Mexican Grill, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>). While the number of Chipotle shares decreased by 9.8%, the value of the holding increased by 14.6%. This partial sale could indicate profit-taking amid the&nbsp;stock&#8217;s&nbsp;robust performance, which has outpaced the broader market, rising nearly 39% this year.
Coincidentally,&nbsp;Ram Ahluwalia, founder of&nbsp;Lumida Wealth, an&nbsp;investment advisor specializing in alternative investments and digital assets,&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38479064/nvidia-pricey-even-with-recent-pullback-but-investor-warns-about-another-more-expen" rel="noreferrer noopener">suggested in late April</a>&nbsp;that&nbsp;Chipotle&#8217;s&nbsp;stock may have surpassed its fundamentals. He noted that the&nbsp;stock&#8217;s&nbsp;momentum could&nbsp;be waning, signaling it might be a&nbsp;&#8220;good time to take profits.&#8221;
Chipotle recently reported strong quarterly results and is awaiting shareholder approval for a 50-for-1 stock split approved by the board in March.
Interestingly, Pershing Square left its stake in&nbsp;Chipotle&#8217;s&nbsp;competitor,&nbsp;Restaurant Brands International Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>), unchanged.
Following Pershing&nbsp;Square&#8217;s&nbsp;disclosure, Ahluwalia observed that Chipotle experienced a decline on Wednesday despite the&nbsp;market&#8217;s&nbsp;record rally. He remarked,&nbsp;&#8220;Retail investors are providing the exit liquidity (chasing momentum) — and&nbsp;that's&nbsp;a bad idea&nbsp;The&nbsp;smart money is out of this name.&#8221;
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/best-value-stocks" rel="noreferrer noopener">Best Value Stocks</a>
Alphabet Tinkering:&nbsp;Pershing Square&nbsp;made adjustments to&nbsp;its holdings in&nbsp;Alphabet, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) by selling some Class C shares and acquiring more Class A shares. Despite the tinkering, the total number of Alphabet shares remained unchanged, while their combined value increased by 8%, reflecting first-quarter gains of a similar magnitude for both classes of stocks.
Alphabet&#8217;s&nbsp;Class C shares (trading under the ticker GOOG) lack voting rights, while Class A shares (GOOGL) confer voting rights to investors.
Here&#8217;s how Pershing Square&#8217;s Portfolio looks now:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td></td>
<td>No of Shares</td>
<td>Change Vs. Q4&#8217;23</td>
<td>Value</td>
<td>Change Vs. Q4&#8217;23</td>
</tr>
<tr>
<td>Alphabet Class C</td>
<td>4.36M</td>
<td>-53.56%</td>
<td>$657.27M</td>
<td>-50.26%</td>
</tr>
<tr>
<td>Alphabet Class A</td>
<td>9.38M</td>
<td>+115.33%</td>
<td>$1.43B</td>
<td>+134.71%</td>
</tr>
<tr>
<td>Canadian Pacific Kansas City Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CP#NYSE">CP</a>)</td>
<td>15.10M</td>
<td> unchanged</td>
<td>$1.33B</td>
<td>+11.53%</td>
</tr>
<tr>
<td>Chipotle</td>
<td>0.74M</td>
<td>-9.82%</td>
<td>$2.16B</td>
<td>+14.62%</td>
</tr>
<tr>
<td>Hilton Worldwide Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>)</td>
<td>9.18M</td>
<td> unchanged</td>
<td>$1.96B</td>
<td>+17.15%</td>
</tr>
<tr>
<td>Howard Hughes Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HHH#NYSE">HHH</a>)</td>
<td>18.85M</td>
<td> unchanged</td>
<td>$1.37B</td>
<td>-15.11%</td>
</tr>
<tr>
<td>Restaurant Brands</td>
<td>23.35M</td>
<td> unchanged</td>
<td>$1.86B</td>
<td>+1.69%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Source: SEC filing</figcaption></figure>
All of&nbsp;Pershing&nbsp;Square&#8217;s&nbsp;holdings except real-estate development and management company Howard Hughes saw book profits in the first quarter.&nbsp;Lowe&#8217;s&nbsp;stock, which the firm divested from, gained approximately 15% in the first quarter.
The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:&nbsp;SPY), an exchange-traded fund tracking the S&amp;P 500 Index,&nbsp;posted gains of 10.34% for the first quarter and 11.81% year-to-date.&nbsp;OTC-listed Pershing Square closed&nbsp;Wednesday&#8217;s&nbsp;session at $51.70, up 0.39%, according to<a target="_blank" href="https://benzinga.grsm.io/lxquj26b2sag" rel="noreferrer noopener">&nbsp;Benzinga Pro data.</a>
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38730583/crazy-hedge-fund-titan-bill-ackman-labels-bidens-arms-freeze-warning-to-israel-amid">&#8216;Crazy:&#8217; Hedge Fund Titan Bill Ackman Labels Biden&#8217;s Arms-Freeze Warning To Israel Amid Hamas War &#8216;One Of The Worst Acts Against An Ally&#8217;</a>
Photo by Center for Jewish History, NYC via Wikimedia Commons

GOOG

GOOGL

PSHZF

Bill Ackman's Pershing Square Q1 Shake-Up: Home Retailer Dumped, Hot Restaurant Stake Trimmed And A 'Magnificent 7' Holding Juggled

As previously announced, NOVONIX has agreed to divest MD South Tenements Pty Ltd, its wholly owned subsidiary that holds the Mount Dromedary natural graphite exploration interests, to Axon Graphite Limited, a subsidiary of LEL. LEL will contribute its interest in its Burke and Corella graphite projects to Axon pursuant to the agreement

Nuveen California Dividend Advantage Municipal Fund 2

Reported Earlier, NOVONIX Completes Due Diligence For Natural Graphite Merger With Axon Graphite

CIVI

Reported Earlier, Civitas Resources Prices Secondary Public Offering Of 6,956,520 Common Stock By An Affiliate Of Canada Pension Plan Investment Board At $73.80/Share

Okeanis Eco Tankers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ECO#NYSE">ECO</a>) reported quarterly earnings of $1.29 per share which beat the analyst consensus estimate of $1.20 by 7.5 percent. This is a 19.38 percent decrease over earnings of $1.60 per share from the same period last year. The company reported quarterly sales of $111.100 million which beat the analyst consensus estimate of $84.947 million by 30.79 percent. This is a 1.33 percent decrease over sales of $112.600 million the same period last year.

Okeanis Eco Tankers Q1 2024 GAAP EPS $1.29 Beats $1.20 Estimate, Sales $111.100M Beat $84.947M Estimate

Wilhelmina International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WHLM#NASDAQ">WHLM</a>) reported quarterly earnings of $0.02 per share. This is a 33.33 percent decrease over earnings of $0.03 per share from the same period last year. The company reported $4.17 million in sales this quarter. This is a 6.98 percent decrease over sales of $4.48 million the same period last year.

WHLM

Wilhelmina International Q1 EPS $0.02 Down From $0.03 YoY, Sales $4.17M Down From $4.48M YoY

VEON&nbsp;Q1&nbsp;2024 Highlights
<ul>
<li>Q1&nbsp;revenue of USD 942 million,&nbsp;+6.6%&nbsp;YoY (+11.6%&nbsp;YoY in local currency) and EBITDA of USD 386 million,&nbsp;+0.2%&nbsp;YoY (+5.1%&nbsp;YoY in local currency)</li>
<li>Q1&nbsp;capex of USD 125 million,&nbsp;+38.6%&nbsp;YoY, with LTM capex intensity of&nbsp;18.3%</li>
<li>Total cash and cash equivalents of USD 632 million, with USD 261 million at HQ; and gross debt at USD 3.7 billion (decreased by USD 2.0 billion YoY), with net debt excluding lease liabilities at USD 2.0 billion; VEON repaid its Revolving Credit Facility</li>
<li>Maintaining FY 2024 revenue growth&nbsp;guidance&nbsp;in local currency of&nbsp;16-18%, EBITDA growth&nbsp;guidance&nbsp;in local currency of&nbsp;18-20%, and capex intensity of&nbsp;18-19%</li>
<li>VEON management increases share ownership; announces its 2024 Annual General Meeting and Capital Markets Day</li>
</ul>

VEON

VEON Q1 Sales $942M Up From $884M YoY, EBITDA $386M Up From $385M YoY

With U.S. stock futures trading higher this morning on Thursday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Deere &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) to report quarterly earnings at $7.86 per share on revenue of $13.28 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Deere shares rose 0.4% to $415.51 in after-hours trading.</li>
<li>Cisco Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) reported stronger-than-expected financial results for its third quarter on Wednesday. The company said it sees FY24 adjusted earnings of $3.69 to $3.71 per share, on revenue of $53.6 billion to $53.8 billion. Cisco shares climbed 4.9% to $52.12 in the after-hours trading session.</li>
<li>Analysts are expecting Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) to post quarterly earnings at 52 cents per share on revenue of $159.50 billion. The company will release earnings before the markets open. Walmart shares rose 0.8% to $60.29 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>AST SpaceMobile Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) reported a narrower-than-expected loss for its first quarter and announced a definitive commercial agreement with AT&amp;T Inc. AST SpaceMobile shares jumped 41% to $3.37 in the after-hours trading session.</li>
<li>Analysts expect JD.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) to post quarterly earnings at 64 cents per share on revenue of $35.62 billion before the opening bell. JD.com shares fell 0.5% to $33.45 in after-hours trading.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/05/38844468/jim-cramer-this-industrial-company-is-absolutely-terrific-recommends-buying-modine-manufacturing">Jim Cramer: This Industrial Company Is &#8216;Absolutely Terrific&#8217;, Recommends Buying Modine Manufacturing</a>

Pre-Market Outlook

ASTS

CSCO

Walmart, Deere And 3 Stocks To Watch Heading Into Thursday

The CNN Money Fear and Greed index showed further improvement in overall market sentiment, while the index remained in the &#8220;Greed&#8221; zone on Wednesday.
U.S. stocks settled higher on Wednesday, with the S&amp;P 500 surging to a record high level during the session.
On the economic data front, U.S. consumer prices rose 0.3% month-over-month in April compared to 0.4% in the previous month, and also down from market expectations of 0.4%. Annual inflation rate in the U.S. slowed to 3.4% in April from 3.5% a month ago. U.S. retail sales came in unchanged month-over-month in April compared to a revised 0.6% increase in March.
Yields on the benchmark 10-year and 2-year Treasurys moved lower following the economic data.
Shares of Arcos Dorados Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARCO#NYSE">ARCO</a>) fell around 6% on Wednesday after reporting results for its first quarter
All sectors on the S&amp;P 500 closed on a positive note, with information technology, real estate and health care stocks recording the biggest gains on Wednesday.
The Dow Jones closed higher by around 350 points to 39,908.00 on Wednesday. The S&amp;P 500 rose 1.17% at 5,308.15, while the Nasdaq Composite gained 1.40% at 16,742.39 during Tuesday's session.
Investors are awaiting earnings results from JD.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>), Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>), and Deere &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) today.
At a current reading of 59.7, the index remained in the &#8220;Greed&#8221; zone on Wednesday, versus a prior reading of 57.
What is CNN Business Fear &amp; Greed Index?
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/news/24/05/38844468/jim-cramer-this-industrial-company-is-absolutely-terrific-recommends-buying-modine-manufacturing">Jim Cramer: This Industrial Company Is &#8216;Absolutely Terrific&#8217;, Recommends Buying Modine Manufacturing</a>

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Latest News for FlexShares STOXX Global Broad Infrastructure Index Fund (ARCA:NFRA)

Tuesday, April 16, 2024

Tuesday, September 08, 2020

Monday, August 28, 2017

Tuesday, December 01, 2015