Franklin High Yield Corporate ETF (BATS: FLHY)

Latest News for Franklin High Yield Corporate ETF (BATS:FLHY)

Franklin High Yield Corporate ETF

Truist Securities analyst Brandon King maintains BOK Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BOKF#NASDAQ">BOKF</a>) with a Hold and lowers the price target from $99 to $97.

News

Price Target

Analyst Ratings

BOKF

Truist Securities Maintains Hold on BOK Financial, Lowers Price Target to $97

Truist Securities analyst Michael Roxland maintains Avery Dennison (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVY#NYSE">AVY</a>) with a Buy and raises the price target from $248 to $253.

Truist Securities Maintains Buy on Avery Dennison, Raises Price Target to $253

RBC Capital analyst Brad Erickson maintains Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) with a Outperform and raises the price target from $155 to $200.

GOOG

GOOGL

RBC Capital Maintains Outperform on Alphabet, Raises Price Target to $200

Truist Securities analyst Joel Fishbein maintains Atlassian (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>) with a Hold and lowers the price target from $220 to $200.

TEAM

Truist Securities Maintains Hold on Atlassian, Lowers Price Target to $200

Truist Securities analyst Youssef Squali maintains Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) with a Buy and raises the price target from $170 to $190.

Truist Securities Maintains Buy on Alphabet, Raises Price Target to $190

General

General Motors To Close Manufacturing Operations In Colombia And Ecuador

Truist Securities analyst Jailendra Singh maintains Accolade (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACCD#NASDAQ">ACCD</a>) with a Buy and lowers the price target from $16 to $14.

ACCD

Truist Securities Maintains Buy on Accolade, Lowers Price Target to $14

Chevron Plans To Divest Between 1-2% Of Capital Employed In 2024, Or $2B-4B

The National Basketball Association (NBA) is reportedly amid significant media negotiations, with Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google&#8217;s YouTube competing for streaming rights, while NBCUniversal aims for a TV deal currently held by Walt Disney Co&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) ESPN and Warner Bros. Discovery Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) TNT.
Disney and Warner are discussing substantial payment increases for TV rights&nbsp;post-2024,&nbsp;despite airing fewer games, reflecting the enduring value of live sports amid cord-cutting trends,&nbsp;<a target="_blank" href="https://www.wsj.com/business/media/nba-tv-rights-talks-heat-up-with-amazon-youtube-vying-to-air-games-6741e60a?mod=hp_lista_pos3" rel="noreferrer noopener">reported&nbsp;</a>The&nbsp;Wall Street Journal.
Also See:&nbsp;<a target="_blank" href="http://What's In The Cards For Amazon In Q1? Analyst Sees Double-Digit Sales And Profit Growth" rel="noreferrer noopener">What&#8217;s In The Cards For Amazon In Q1? Analyst Sees Double-Digit Sales And Profit Growth</a>
Interest&nbsp;is elevated&nbsp;in the league&#8217;s next round of packages, which starts after the 2024-2025 season, the report added.&nbsp;
Amazon and YouTube are frontrunners for a streaming package, potentially altering the NBA&#8217;s traditional media landscape.
NBCUniversal vies for rights alongside Disney and Warner, aiming for regular season, playoff broadcasts, and potential NBA Finals airing.
Warner Discovery and Disney have the right to match other offers, the report noted, citing people with knowledge of the pacts.
NBA&nbsp;Commissioner Adam Silver aims to expand global viewership, mirroring the NFL&#8217;s approach, increasing rights fees, and exploring new agreements.
Amazon, YouTube, and NBCUniversal seek to bolster their streaming services through sports investments.
NBA content enhances network value, aiding pay-TV distribution negotiations, particularly crucial among the rise of streaming platforms.
As per the report, Wolfe Research analyst Peter Supino downgraded Warner Discovery stock to Underperform, citing the cost of a new NBA deal as a factor.
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38451439/jeff-bezos-and-amazon-ceo-andy-jassy-accused-of-deleting-chats-amid-antitrust-probe-the-ftcs-content" rel="noreferrer noopener">Jeff Bezos And Amazon CEO Andy Jassy Accused Of Deleting Chats Amid Antitrust Probe: &#8216;The FTC&#8217;s Contentions Are Baseless&#8217;</a>
Price Action: AMZN shares are trading higher by 2.87% at $178.62&nbsp;at the last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Equities

Sports

Media

AMZN

Game On: Amazon, YouTube, And NBCUniversal Reportedly Battle for NBA Rights

Stifel analyst Matthew Smith maintains WK Kellogg (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KLG#NYSE">KLG</a>) with a Hold and raises the price target from $13 to $20.

Stifel Maintains Hold on WK Kellogg, Raises Price Target to $20

Legal

Williams-Sonoma To Pay Record Civil Penalty Of $3.175M For Violating Order On Advertising 'Made In USA'

TD Securities analyst Greg Barnes maintains Newmont (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) with a Hold and raises the price target from $43 to $48.

TD Securities Maintains Hold on Newmont, Raises Price Target to $48

HCA Healthcare Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HCA#NYSE">HCA</a>) reported on Friday its first-quarter revenues of $17.34 billion, up from $15.59 billion a year ago, beating the <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">consensus of $16.78 billion</a>.
The hospital chain reported adjusted EPS of $5.36, up from $4.93 a year ago,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38456437/hca-healthcare-reports-first-quarter-2024-results" rel="noreferrer noopener">beating the consensus of $5.36</a>.
&#8220;The strong fundamentals we saw in our business this past year continued into the first quarter of 2024. This momentum generated strong financial results that were driven primarily by broad-based volume growth,&#8221; said Sam Hazen, chief executive officer of HCA Healthcare.
Same-facility admissions increased 6.2% Y/Y, while same-facility equivalent admissions increased 5.2% in the first quarter of 2024.
Same facility emergency room visits increased by 7.2%; same-facility inpatient surgeries increased 1.7% and same-facility outpatient surgeries declined 2.1%; and same facility revenue per equivalent admission increased by 3.5%
For the first quarter of 2024, adjusted EBITDA totaled $3.35 billion, compared to $3.17 billion in the first quarter of 2023.
Guidance: HCA Healthcare <a href="https://www.benzinga.com/news/earnings/24/01/36848240/why-is-hospital-chain-hca-healthcare-stock-trading-higher-today" target="_blank" rel="noreferrer noopener">reaffirmed 2024 revenue guidance</a> of $67.75 billion-$70.25 billion versus consensus of $69.12 billion.
The company reaffirmed 2024 EPS guidance of $19.70-$21.20 versus consensus of $20.68.
Reuters highlighted that at least two analysts said the maintained outlook may disappoint investors after HCA reported better-than-expected results.
Citing Stephens analyst, Reuters noted the forecast &#8220;likely reflects a conservative posture&#8221; by HCA.
HCA Price Action: HCA Healthcare shares are down 4.76% at $299.18 at publication Friday.
Photo: Shutterstock

Earnings

Large Cap

Guidance

Health Care

Movers

Trading Ideas

Why Is HCA Healthcare Stock Trading Lower On Friday?

Over the last several years, Europe has become more open-minded about medical and recreational marijuana. Here are some of the latest cannabis developments from the Untied Kingdom, Scotland, Sweden, and Portugal.
<h2 class="wp-block-heading">United Kingdom: Release Launches Initiative To Protect Medical Marijuana Patients Rights</h2>
Release, the national center of expertise on drugs and drugs law in the United Kingdom, is <a href="https://www.release.org.uk/medical-cannabis-campaign">launching #ReleaseOurMeds campaign</a> to protect the rights of patients to access their medicine.
There has been an increase in reports of patients having negative encounters with the police due to their possession of prescribed cannabis medication.
Last year, The Guardian reported that as many as 24 medical cannabis users responded to its call, opening up about their experience with the police regarding public&nbsp;medical marijuana use. The lucky ones encountered understanding police officers. The unfortunate ones&nbsp;had their<a href="https://www.benzinga.com/markets/cannabis/23/11/35637847/medical-marijuana-patient-assaulted-by-uk-cops-families-seek-gov-help-with-expensive-treatment-f"> medicine seized,&nbsp;were arrested and brought to court</a>.
Release is looking to here from prescribed medical marijuana patients that had a concerning interaction with the police about it. This campaign is exploring what changes could stop the problems some patients have had with the police when found with medical cannabis.
Release operates a national helpline to advise on drugs and laws about drugs.
<h2 class="wp-block-heading">Scotland: Nearly 25% Of 15-Year-Old Boys In Scotland Admit Smoking Weed</h2>
New <a href="https://iris.who.int/handle/10665/376573">survey</a> from the World Health Organization (WHO) that questioned 280,000 children aged 11, 13 and 15 from 44 countries revealed that Scotland 15-year old boys smoke most weed, <a href="https://www.bbc.com/news/articles/cn0w5le6j7zo">writes</a> BBC.
According to the report, as many as 23% of Scottish boys aged 15 and 16% of girls the same age said they had tried cannabis at some point. Marijuana consumption in the last 30 days was confirmed by 13% of boys and 6% of girls.
The results also indicate that the United Kingdom has a higher rated with under-age vaping than many other countries.
<h2 class="wp-block-heading">Sweden: 1.4 Tons Of Cocaine Seized In One Of The Largest Drug Busts</h2>
Last week, Swedish customs seized 1.4 tons of cocaine in a port near Stockholm <a href="https://apnews.com/article/sweden-cocaine-seizure-biggest-ever-container-571cdc4a596357ca77ad680f03065b42">reported</a> the Associated Press.
"If it is as big as we think, it is one of the biggest seizures ever made," Stefan Granath of Swedish customs told broadcaster SVT, adding they were still waiting for official confirmation on the amount figure.
Cocaine was found in a container in the Nynashamn port, south of Stockholm and six men have been arrested on suspicion of involvement in its transport.
<h2 class="wp-block-heading">Portugal: Only 17kg Of Cannabis Sold In Country, Versus 11 Tons Exported</h2>
Last year, Portugal exported 11 tons of marijuana, but only 17 kilogram were sold in the country, <a href="https://www.euronews.com/health/2024/04/21/portugal-grows-tonnes-of-legal-medical-cannabis-for-patients-the-black-market-is-the-only-">writes</a> Euronews Health.
Even though medical marijuana is legal it can only prescribed to patients suffering from seven specific conditions for which other traditional treatment failed. To make things more complicated the only medical marijuana product currently sold in Portugal is 18% THC cannabis flower from Canadian marijuana giant Tilray (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>). A box of 15g costs 150 euros ($161), which is much higher than in the illegal market, and is not covered by health insurance.
Related Links:
<a href="https://www.benzinga.com/markets/cannabis/24/04/38248796/we-want-fewer-people-to-consume-cannabis-german-chancellor-scholz-explains-reform-to-chinese-stu">&#8216;We Want Fewer People To Consume Cannabis,&#8217; German Chancellor Scholz Explains Reform To Chinese Students &amp; More Updates</a>
<a href="https://www.benzinga.com/markets/cannabis/24/04/38146863/154-pounds-of-weed-found-in-french-mayors-home-denmark-closes-pot-street-in-christiania-after-mu">154 Pounds Of Weed Found In French Mayor&#8217;s Home, Denmark Closes Pot Street In Christiania After Multiple Shootings &amp; More Cannabis Euro News</a>
<a href="https://www.benzinga.com/markets/cannabis/24/03/37838383/switzerland-launches-cannabis-study-with-7-5k-participants-more-pot-updates-in-europe" target="_blank" rel="noreferrer noopener">Switzerland Launches Cannabis Study With 7.5k Participants &amp; More Pot Updates In Europe</a>
Photo: Courtesy of Artem Stepanov via Shutterstock

Cannabis

Eurozone

TLRY

1.4 Tons Of Cocaine Seized In Sweden's Largest Drug Bust, Portugal Exports 11 Tons Of Marijuana, But Sells Only 17kg Within & More

Stifel analyst Michael Hoffman maintains Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) with a Buy and raises the price target from $215 to $227.

Stifel Maintains Buy on Waste Management, Raises Price Target to $227

MF International Shares Halted On Circuit Breaker

Despite Bitcoin&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) consolidation period, veteran cryptocurrency influencer Lark Davis believes this is just the calm before the storm, pointing to several bullish factors <a href="https://www.benzinga.com/money/bitcoin-price-prediction">for Bitcoin&#8217;s price</a>.
What Happened: In his latest tweet, Davis discussed Bitcoin&#8217;s current state, emphasizing the quietness in the market and the ongoing consolidation phase. 
Despite this, Davis remains bullish, referring to the period as &#8220;the calm before the storm.&#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">The crypto market is quiet as Bitcoin continues a period of consolidation. Crypto Twitter continues to be bearish. Meanwhile:…
&mdash; Lark Davis (@TheCryptoLark) <a href="https://twitter.com/TheCryptoLark/status/1783488064427266475?ref_src=twsrc%5Etfw">April 25, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
He highlighted the growing institutional interest in Bitcoin, noting that despite bearish sentiment on Crypto Twitter, significant developments are underway. 
Davis specifically mentioned the upcoming launch of Bitcoin ETFs in Hong Kong, scheduled to begin trading next week, and noted that other countries like Japan, Singapore, South Korea, and mainland China are also poised to embrace Bitcoin, suggesting a broader adoption trend.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></a></figure>
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38461105/bitcoin-could-soar-up-to-1m-says-strike-ceo-jack-mallers-violent-to-the-upside">Bitcoin Could Soar Up To $1M, Says Strike CEO Jack Mallers: &#8216;Violent To The Upside&#8217;</a>
Why It Matters: Davis underscored the significance of Morgan Stanley&#8217;s decision to allow 15,000 brokers to recommend Bitcoin ETFs to clients, potentially bringing a substantial influx of institutional capital into the crypto market. He notes, &#8220;Bitcoin ETFs and whales [are] continuously buying thousands of Bitcoin every day.&#8221; 
Despite market consolidation, large investors are actively accumulating Bitcoin, as evidenced by ongoing whale transactions.
IntoTheBlock data highlights transactions greater than $100,000 at 8,529 as of April 25 compared to 4,882 as of April 20. 
Davis&#8217;s tweet serves as a reminder that while short-term market sentiment may be bearish, many traders remain long-term bullish. Despite the current consolidation, data indicates that most Bitcoin holders remain in profit (90%), reflecting resilience and confidence in the asset&#8217;s future trajectory.
What's Next: The influence of <a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment" target="_blank" rel="noreferrer noopener">Bitcoin as an institutional asset class</a> is expected to be thoroughly explored at Benzinga's upcoming <a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a> event on Nov. 19.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38442912/bitcoins-consolidation-phase-best-met-with-zoom-out-perspective-patience-approach-says-tra">Bitcoin&#8217;s Consolidation Phase Best Met With &#8216;Zoom Out, Perspective, Patience&#8217; Approach, Says Trader</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image created using artificial intelligence with Midjourney.

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

Cryptocurrency

$BTC

Bitcoin's Consolidation Is The 'Calm Before The Storm,' Veteran Trader Lark Davis Writes

In an expression of disapproval on social media, prominent real estate investor <a href="https://www.benzinga.com/general/24/02/37202200/grant-cardone-says-earning-400-000-a-year-would-embarrass-him-as-a-husband-father-and-human-being-ho">Grant Cardone</a> scrutinized President Joe Biden's proposed hike in capital gains tax in a recent X post.&nbsp;
"Biden proposes 44.6% capital gains tax, from current 19%," Cardone posted. "Can't even come up with his own ideas taking a page out of Trudeau playbook who raised Canada to 66%."&nbsp;
Cardone then invoked historical political outcomes, writing, "And he ignored how that played out for the last guy who tried it — the entire country went red" and included a map from a past U.S. election to illustrate his point.
Don't Miss:
<ul>
<li>If the United States had access to<a href="https://www.benzinga.com/money/public-hys-avgamerican"> today&#8217;s high-yield savings accounts rates</a> in 2015, it wouldn&#8217;t need to save another penny.</li>
<li>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/red-ventures"> The percentage may shock you</a>.</li>
</ul>
Cardone's critique reflects apprehensions in the investment community, particularly among those like himself for whom capital gains taxes are a significant consideration. In a separate X post, he outlined how taxes impact personal finances at multiple stages, from earning and spending to investing and passing on wealth, highlighting the government's role in individual financial activities.
The Biden administration's proposed capital gains tax rate is a significant topic of discussion, as it represents the highest proposed federal rate since its inception. The particulars of the proposal reveal a tiered approach, aiming to increase rates to 37% for taxpayers with taxable income exceeding $1 million and further adjustments pushing the rate to 44.6% for those meeting specific income and investment thresholds.
These changes are documented in the general explanations of the administration's fiscal 2025 revenue proposal, which details the combined effect of raising the top ordinary rate and the net investment income tax rate, potentially culminating in the 44.6% figure. The higher rate would impact only a select group of high earners, countering the narrative of an across-the-board tax rate hike.
The dialogue around the proposal is intensified by the sentiments and concerns of taxpayers, especially small-business owners. By focusing on the wealthy, who according to a White House release pay an average <a href="https://www.benzinga.com/personal-finance/24/04/38319480/warren-buffett-wants-higher-taxes-for-the-ultra-rich-including-himself-says-my-friends-and-i-hav">tax rate significantly lower</a> than the proposed capital gains rate, the policy aims to equalize the tax obligations of high earners to their financial capabilities.&nbsp;
The proposal may have been overshadowed by broader public reactions to the headline figure of 44.6%, stirring debate over the appropriate contribution of the wealthy to the nation's coffers versus the potential risks of stifling economic growth.
Read Next:
<ul>
<li>Americans got swindled out of $24.6 billion in the last 3 years —<a href="https://www.benzinga.com/money/advisor-adv"> Which high profile ponzi scheme was endorsed by millionaires?</a></li>
<li>82% of Americans aren&#8217;t using<a href="https://www.benzinga.com/money/public-hys"> this government secured 5% passive income stream</a>, are you one of them?</li>
</ul>

Personal Finance

Grant Cardone Slams Biden For Copying Canada's High Proposed Capital Gains Tax Noting 'Red' Shift: 'Can't Even Come Up With His Own Ideas'

Stifel analyst Matthew Smith maintains Vital Farms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VITL#NASDAQ">VITL</a>) with a Buy and raises the price target from $22 to $30.

VITL

Stifel Maintains Buy on Vital Farms, Raises Price Target to $30

Commodities

Markets

Chevron's Production In Venezuela Increased To 180,000 Barrels/Day

Where The Looming Credit Maturity Wall And The Economy Collide

Junk Bond Default Surge Continues In 2024

Credit Maturity Wall: Not As Difficult A Climb As It May Seem

Fixed-Income Outlook: Don't Miss The Forest For The Trees

Franklin High Yield Corporate ETF declares monthly distribution of $0.1252

IShares Spring 2024 Investment Directions

Fixed Income: No Time To Yield

Fixed Income Perspectives - Looking Ahead At Q2 2024: A Pause Before A Pivot

Fixed Income Investment Outlook Q2 2024: A Winding, Downward Path

Bubble Up: The Everything, Everywhere Bubble

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