Continental Beverage Stock (OTC:CBBB), Trade Ideas

Continental Beverage Brands Corp is a shell company.

News

Intraday Update

Markets

Movers

Trading Ideas

ACGL

ACLLF

ATAX

AVACF

BOREF

BVFL

BYCBF

CBNC

CELG

CHCT

CLSI

CPKF

DLTR

DNPLY

DOVA

ENGIY

EVLLF

FFDF

GLAD

GLAXF

GLSDP

HGBL

IRET

JACK

JBSS

LEAI

LMRK

MSEX

MTHRF

MINEWORX TECH LTD ORD by Mineworx Technologies Ltd.

MWXRF

PCTI

PLOW

PODD

PURY

RHHBY

RITT

RTOKY

SGEN

SOHON

SOHOO

SQNXF

STRB

TERP

TLTZF

URYL

USCR

VENV

WMCB

YORW

ARTR

AVGOP

NLLSY

ELALF

CRZHF

MISM

CBBB

Stocks That Hit 52-Week Highs On Monday

CONTINENTAL BEV BRD CORP by Continental Beverage Brands Corporation

Continental Beverage Brands Corp

B of A Securities analyst Curtis Nagle initiates coverage on Ibotta (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBTA#NYSE">IBTA</a>) with a Buy rating and announces Price Target of $117.

Price Target

Initiation

Analyst Ratings

IBTA

B of A Securities Initiates Coverage On Ibotta with Buy Rating, Announces Price Target of $117

Fiscal 2024 Full Year&nbsp;Guidance
Mitek is reiterating its previously provided&nbsp;guidance&nbsp;for its fiscal year ending September 30, 2024, as follows:
<ul>
<li>Mitek expects full-year revenue to be between&nbsp;$180.0 million&nbsp;and&nbsp;$185.0 million, a&nbsp;6%&nbsp;growth rate at the midpoint of the range. In fiscal 2023, Mitek signed a large multi-year mobile deposit reorder with one customer that locked in favorable pricing over a four-year period. Due to the unique terms of this contract, Mitek recognized additional license revenue relating to future years of approximately&nbsp;$7.0 million&nbsp;in fiscal 2023. If the Company backs out the future year revenue of&nbsp;$7 million&nbsp;from its fiscal 2023 revenue and attributes the&nbsp;$2.7 million&nbsp;that would have been attributable to fiscal 2024 to the midpoint of the fiscal 2024 revenue&nbsp;guidance, it would represent growth of approximately&nbsp;12.0%&nbsp;at the midpoint.</li>
<li>Mitek expects its non-GAAP operating margin for fiscal 2024 to be between&nbsp;30.0%&nbsp;and&nbsp;31.0%.</li>
</ul>

Guidance

MITK

Mitek Reiterated FY24 Revenue of $180M-$185M Vs $181.52M Est

HC Wainwright &amp; Co. analyst Robert Burns reiterates Omega Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OMGA#NASDAQ">OMGA</a>) with a Buy and maintains $12 price target.

Reiteration

OMGA

HC Wainwright & Co. Reiterates Buy on Omega Therapeutics, Maintains $12 Price Target

B of A Securities initiates coverage on Centuri Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTRI#NYSE">CTRI</a>) with a Neutral rating and announces Price Target of $26.

CTRI

B of A Securities Initiates Coverage On Centuri Holdings with Neutral Rating, Announces Price Target of $26

Technology giant&nbsp;Microsoft Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) reportedly intends to invest €4 billion ($4.3 billion) in constructing cloud and AI infrastructure in France, marking its latest significant expenditure in artificial intelligence technology.
Microsoft aims to train a million individuals and support 2,500 startups&nbsp;by 2027 in France, according to a&nbsp;report from&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-05-13/microsoft-to-invest-4-billion-in-french-cloud-ai-services?srnd=technology-vp&amp;sref=TBDibEcD" rel="noreferrer noopener">Bloomberg</a>.
France prioritizes AI development, with support from national funds and local billionaires,&nbsp;particularly&nbsp;backing companies like&nbsp;Mistral&nbsp;and&nbsp;Kyutai,&nbsp;both&nbsp;established in 2023.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38737635/french-ai-startup-founded-by-former-google-and-meta-researchers-is-up-to-challenge-silicon-valley-do" rel="noreferrer noopener">French AI Startup, Founded By Former Google And Meta Researchers, Is Up To Challenge Silicon Valley Dominance: Report</a>
Microsoft&#8217;s commitment aligns with President Emmanuel Macron's &#8220;Choose France&#8221; summit objective to attract foreign investment and elevate France as a financial center within the EU.
Meanwhile&nbsp;Amazon.com Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) has pledged €1.2 billion for infrastructure&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38783794" rel="noreferrer noopener">and computing projects,&nbsp;joined by&nbsp;56 other initiatives.</a>
Microsoft plans to expand its cloud and AI investments worldwide, including a recently announced €3.2 billion investment in Germany and a $1.5 billion investment in G42, Abu Dhabi.
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38754837/microsoft-challenges-apple-and-google-with-web-based-gaming-store-report" rel="noreferrer noopener">Microsoft Challenges Apple And Google with Web-Based Gaming Store: Report</a>
Microsoft stock has gained about 34% in the past 12 months. Investors can gain exposure to the stock via&nbsp;Technology&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) and&nbsp;IShares U.S. Technology ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYW#NYSE">IYW</a>).
Price Action: MSFT shares are trading higher by 1.03% at $419.00 in premarket at&nbsp;the last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Equities

Media

General

AMZN

iShares Dow Jones US Technology Sector Index Fund

MSFT

Microsoft's €4B French AI Push: Tech Expansion Reportedly Intensifies

HC Wainwright &amp; Co. analyst Robert Burns reiterates Cogent Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COGT#NASDAQ">COGT</a>) with a Buy and maintains $19 price target.

COGT

HC Wainwright & Co. Reiterates Buy on Cogent Biosciences, Maintains $19 Price Target

Mitek Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MITK#NASDAQ">MITK</a>, &amp;nbsp, <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;amp, , %20url=http%3A%2F%2Fwww.miteksystems.com&amp;amp, , %20esheet=53984362&amp;amp, , %20newsitemid=20240513681445&amp;amp, , %20lan=en-US&amp;amp, , %20anchor=www.miteksystems.com&amp;amp, , %20index=1&amp;amp, , %20md5=f28e5e9d605aee1a247af8b983177ed9">www.miteksystems.com</a>, &amp;quot, Mitek&amp;quot, or the &amp;quot, Company&amp;quot, )))), a global leader in digital identity and digital fraud prevention, today announced that its Board of Directors has authorized a two year share repurchase program for up to&nbsp;$50 million&nbsp;of its common stock.

Buybacks

Mitek Announces $50M Share Repurchase Program

Fortrea Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTRE#NASDAQ">FTRE</a>) reported quarterly losses of $(0.04) per share which missed the analyst consensus estimate of $0.01 by 500 percent. This is a 112.12 percent decrease over earnings of $0.33 per share from the same period last year. The company reported quarterly sales of $662.100 million which missed the analyst consensus estimate of $754.577 million by 12.26 percent. This is a 4.58 percent decrease over sales of $693.900 million the same period last year.

Earnings

Earnings Misses

FTRE

Fortrea Holdings Q1 2024 Adj EPS $(0.04) Misses $0.01 Estimate, Sales $662.100M Miss $754.577M Estimate

HC Wainwright &amp; Co. analyst Robert Burns reiterates Revolution Medicines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RVMD#NASDAQ">RVMD</a>) with a Buy and maintains $44 price target.

RVMD

HC Wainwright & Co. Reiterates Buy on Revolution Medicines, Maintains $44 Price Target

Mitek (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MITK#NASDAQ">MITK</a>, &amp;nbsp, <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;amp, , %20url=http%3A%2F%2Fwww.miteksystems.com&amp;amp, , %20esheet=53984360&amp;amp, , %20newsitemid=20240513727760&amp;amp, , %20lan=en-US&amp;amp, , %20anchor=www.miteksystems.com&amp;amp, , %20index=1&amp;amp, , %20md5=4394c504ffee7e534b775ee2e797c082">www.miteksystems.com</a>, &amp;quot, Mitek&amp;quot, or the &amp;quot, Company&amp;quot, )))), a global leader in digital identity and digital fraud prevention, today announced that the Company&#39;s Board of Directors has appointed Scott Carter as Interim CEO, effective June 1, 2024. The Company will terminate the employment of Mitek&#39;s current CEO, Max Carnecchia, on May 31, 2024. At the request of the Board, Mr. Carnecchia will remain a member of the Board of Directors and be available to assist with the CEO transition process. The Board has engaged the services of a leading global executive search firm and has commenced the search for a new CEO.

Management

Mitek Tapped Chair Scott Carter as Interim CEO, Effective June 1, 2024, Succeeding Max Carnecchia While the Board Searched for a Permanent Replacement

Needham analyst Scott Berg reiterates Everbridge (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVBG#NASDAQ">EVBG</a>) with a Hold.

EVBG

Needham Reiterates Hold on Everbridge

B of A Securities analyst Shaun Kelley upgrades Red Rock Resorts (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RRR#NASDAQ">RRR</a>) from Underperform to Neutral and lowers the price target from $57 to $55.

Upgrades

B of A Securities Upgrades Red Rock Resorts to Neutral, Lowers Price Target to $55

B of A Securities analyst Shaun Kelley downgrades PENN Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) from Buy to Neutral and lowers the price target from $28 to $17.5.

Downgrades

PENN

B of A Securities Downgrades PENN Entertainment to Neutral, Lowers Price Target to $17.5

HC Wainwright &amp; Co. analyst Amit Dayal reiterates FTC Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTCI#NASDAQ">FTCI</a>) with a Buy and maintains $1.5 price target.

FTCI

HC Wainwright & Co. Reiterates Buy on FTC Solar, Maintains $1.5 Price Target

Needham analyst Gil Blum reiterates TScan Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCRX#NASDAQ">TCRX</a>) with a Buy and maintains $11 price target.

TCRX

Needham Reiterates Buy on TScan Therapeutics, Maintains $11 Price Target

HC Wainwright &amp; Co. analyst Scott Buck reiterates SoundHound AI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOUN#NASDAQ">SOUN</a>) with a Buy and maintains $7 price target.

SOUN

HC Wainwright & Co. Reiterates Buy on SoundHound AI, Maintains $7 Price Target

HC Wainwright &amp; Co. analyst Amit Dayal reiterates Calumet Specialty Prods (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLMT#NASDAQ">CLMT</a>) with a Buy and maintains $25 price target.

CLMT

HC Wainwright & Co. Reiterates Buy on Calumet Specialty Prods, Maintains $25 Price Target

E-commerce giant&nbsp;Amazon.com Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) is reportedly making a significant investment exceeding&nbsp;€1.2 billion ($1.3 billion) in its French operations, aiming to create over 3,000 permanent positions within the country.
The French presidency revealed plans for Amazon and other firms, like&nbsp;GSK&nbsp;plc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>) and&nbsp;Accenture&nbsp;Plc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>), to unveil substantial investments during the &#8220;Choose France&#8221; event, beginning Monday, reported Reuters.
Amazon Web Services (AWS) will bolster cloud infrastructure in Paris to support France&#8217;s burgeoning generative AI sector and enhance logistics infrastructure in Auvergne-Rhône-Alpes, the report mentioned.
France&#8217;s growing interest in generative AI has driven demand for cloud services, with the nation emerging as an AI hub hosting promising startups like&nbsp;Mistral&nbsp;and&nbsp;Poolside, alongside research centers established by&nbsp;Meta Platforms Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and&nbsp;Alphabet Inc&#8217;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)&nbsp;Google, as per the report.
Also Read:<a target="_blank" href="https://www.benzinga.com/news/24/05/38737635/french-ai-startup-founded-by-former-google-and-meta-researchers-is-up-to-challenge-silicon-valley-do" rel="noreferrer noopener">&nbsp;French AI Startup, Founded By Former Google And Meta Researchers, Is Up To Challenge Silicon Valley Dominance: Report</a>
Amazon&#8217;s investment in France since 2010 exceeds&nbsp;€20 billion, with over 22,000 permanent employees engaged across its cloud and e-commerce platforms.
Frédéric Duval, Amazon France&#8217;s country manager, affirmed that the newly announced jobs supplement the 2,000 positions pledged for 2024.
A portion of the investment will facilitate the expansion of Amazon&#8217;s logistics network, aiming to enhance delivery efficiency and reduce carbon emissions, leveraging its existing 35 logistics facilities in France, the report added.
Amazon stock has gained more than 68% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Consumer&nbsp;Discretionary Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) and&nbsp;Vanguard Consumer Discretionary ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VCR#NYSE">VCR</a>).
Price Action: AMZN shares closed lower by 1.07% at $187.48 on Friday.
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next:<a href="https://www.benzinga.com/markets/equities/24/05/38695148/amazon-telefonicas-bold-venture-to-transform-telecommunications-whats-on-the-cards" target="_blank" rel="noreferrer noopener"> Amazon, Telefonica&#8217;s Bold Venture To Transform Telecommunications &#8211; What&#8217;s On The Cards?</a>
Photo via Shutterstock

GOOGL

Amazon Pours ~$1.3B Investment Into French Operations: Report

In the face of ongoing campus unrest, Ken Griffin, founder of the $63 billion U.S. hedge fund Citadel, has urged Harvard University to uphold &#8220;Western values.&#8221;
What Happened: Griffin, a major donor to his alma mater, voiced his concerns over what he perceives as a &#8220;cultural revolution&#8221; in U.S. education, the Financial Times <a href="https://www.ft.com/content/1922acbd-95b0-482b-9a23-0789eae1870f">reported</a> on Sunday. He believes this shift has resulted in a loss of focus on the pursuit of truth and knowledge. He criticized the narrative on college campuses, which he says has devolved into claims of systemic racism and injustice. 
"The narrative on some of our college campuses has devolved to the level that the system is rigged and unfair, and that America is plagued by systemic racism and systemic injustice," he said in an interview.
"The protests on college campuses are almost like performative art, and we're not actually helping Palestinians or Israelis with these surreal protests.&#8221;
This comes amid violent protests against Israel&#8217;s war in Gaza at universities including Harvard, Stanford, and the Massachusetts Institute of Technology.
See Also: <a href="https://www.benzinga.com/news/24/05/38753402/biden-vs-trump-key-swing-state-voters-give-big-lead-to-one-candidate-despite-ranking-him-down-on-cri?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Biden Vs. Trump: Key Swing State Voters Give Big Lead To One Candidate, Despite Ranking Him Down On Criti</a>
Why It Matters: Griffin&#8217;s comments come in the wake of intense scrutiny and debate over university governance and their handling of protests. Earlier this year, <a href="https://www.benzinga.com/news/24/01/36711314/former-harvard-president-larry-summers-has-lost-confidence-in-university-leadership-to-maintain-it-a">former Harvard President Larry Summers expressed dissatisfaction</a> with the university&#8217;s response to anti-Semitism on campus. Griffin, who has previously criticized Harvard&#8217;s diversity, equity, and inclusion policies, called for the university to stand for meritocracy and embrace Western values.
Griffin&#8217;s influence as one of Harvard&#8217;s largest donors in its modern history, and his potential future move into politics, make his views significant. His comments also highlight the ongoing debate about the influence of wealthy donors on US universities. Earlier this year, <a href="https://www.benzinga.com/news/24/02/36900089/harvard-loses-500m-mega-donor-on-heels-of-antisemitism-debacle-will-it-hurt-50-billion-endowment">Griffin promised to stop donating to Harvard</a>, calling students &#8220;whiny snowflakes.&#8221;
These events have had repercussions beyond the campus, with <a href="https://www.benzinga.com/news/24/04/38520941/ivy-league-grads-no-longer-the-apple-of-recruiters-eyes-amid-anti-israel-protests-they-are-going-to">recruiters expressing discomfort</a> about hiring graduates from Ivy League colleges due to their increasing political participation. This comes at a time when universities like Columbia have initiated the suspension of pro-Palestinian activists who did not comply with the university's request to dismantle a protest camp on campus.
The situation escalated further when the <a href="https://www.benzinga.com/news/24/05/38540389/nypd-descends-on-columbia-university-in-riot-gear-amid-pro-palestine-protests">New York Police Department stormed Columbia University&#8217;s campus</a> in riot gear to quell pro-Palestine protests.
Read Next: <a href="https://www.benzinga.com/news/24/05/38752266/nikki-haley-said-to-be-wooing-more-top-donors-but-leaves-trump-support-up-in-the-air-for-now?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nikki Haley Said To Be Wooing More Top Donors But Leaves Trump Support Up In The Air For Now</a>
Image via Flickr
<div style="font-family: 'Lato', sans-serif">
<div>
<hr style="border: 0;height: 5px;background: #225aa9" />
<div style="background-color: #f5f5f5;background-position: center;background-size: cover;justify-content: center"></div>

 Engineered by Benzinga Neuro, Edited by 
 <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Pooja Rajkumari</a> 
 
 
<hr style="border: 0;height: 1px;background: #225aa9" />

 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="noopener" style="color: #225aa9;text-decoration: none">Learn more.</a>
 
<hr style="border: 0;height: 5px;background: #225aa9" />
 </div>
</div>

Politics

Ken Griffin Calls Campus Protests 'Performative Art,' Urges To Uphold 'Western Values:' 'We're Not Actually Helping Palestinians Or Israelis'

Ferrari N.V. (&quot;Ferrari&quot;) (NYSE/EXM: RACE) announced today that it plans to offer unsecured debt securities (the &quot;Notes&quot;) in benchmark size and subject to market conditions. The Notes are intended to rank&nbsp;pari passu&nbsp;with respect to all other outstanding unsecured and unsubordinated obligations of Ferrari.
Ferrari intends to use the net proceeds from the offering of the Notes for general corporate purposes.