Latest News for  Stock (OTC:GBBEF)

Canaccord Genuity analyst Brian McNamara maintains Lifetime Brands (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCUT#NASDAQ">LCUT</a>) with a Buy and raises the price target from $11 to $12.

News

Price Target

Analyst Ratings

LCUT

Canaccord Genuity Maintains Buy on Lifetime Brands, Raises Price Target to $12

Trading Ideas

LIDR

AEye Shares Halted On Circuit Breaker To The Upside, Stock Now Up 136.7%

Canaccord Genuity analyst Bill Maughan maintains Fate Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FATE#NASDAQ">FATE</a>) with a Buy and lowers the price target from $11 to $9.

FATE

Canaccord Genuity Maintains Buy on Fate Therapeutics, Lowers Price Target to $9

Needham analyst Bernie McTernan maintains Fiverr Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FVRR#NYSE">FVRR</a>) with a Buy and raises the price target from $33 to $36.

FVRR

Needham Maintains Buy on Fiverr Intl, Raises Price Target to $36

The United Nations General Assembly on Friday voted in favor of a resolution that <a href="https://www.benzinga.com/topic/palestine">would grant Palestine</a> new &#8220;rights and privileges&#8221; and has called for the Security Council to reconsider Palestine&#8217;s request to join the U.N.
What Happened: The resolution, which was sponsored by Arab and Palestinian representatives, was approved by a vote of 143-9 with 25 abstentions, the Associated Press <a href="https://apnews.com/article/un-resolution-palestinians-membership-rights-us-assembly-875560e897f27d6600090420f36404e4">reports</a>. The United States, along with Israel and seven other countries, voted against the resolution.
While the resolution gives Palestine additional rights and privileges, it keeps its status as a non-member observer state, lacking voting rights in the General Assembly and its conferences.
The U.S. has stated its intention to prevent Palestinian full membership and statehood until significant issues such as security, borders and the status of Jerusalem are settled through direct talks with Israel.
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The resolution encourages the Security Council to favorably reconsider Palestine&#8217;s request for membership. This push for full Palestinian U.N. membership coincides with the ongoing war in Gaza, bringing the Israeli-Palestinian conflict into sharp focus.
Why It Matters: The U.N. resolution comes at a critical juncture in the Israeli-Palestinian conflict. Despite the mounting death toll in Gaza and global support for Palestinian membership, the U.S. has maintained its stance on the issue.
In an upcoming report on Israeli use of U.S. weapons in the war, the Biden administration will not conclude that Israel violated the terms of the U.S. weapons agreement, despite the ongoing conflict, the AP <a href="https://apnews.com/article/us-israel-gaza-war-nsm-international-law-c83b6f39ce2799e5d2c473a337e2f857">reports</a>, citing three unnamed sources.
This decision has drawn criticism from some quarters, with the U.S. being accused of not holding Israel accountable for its actions in Gaza.
Ceasefire negotiations between Israel and Hamas have come to a halt, with both parties failing to reach an agreement. Hamas, the Palestinian militant group, claims that Israel has rejected its proposals, including a permanent ceasefire, complete withdrawal of Israeli forces from Gaza, the return of displaced individuals, and a prisoner exchange, <a href="https://abcnews.go.com/International/live-updates/israel-hamas-war/?id=109948593">ABC News</a> reports.
&#8220;Israel&#8217;s rejection of the mediators&#8217; proposal, through the amendments it made to it, has brought things back to square one,&#8221; Hamas stated on Friday.
The breakdown of negotiations is a major obstacle in resolving the seven-month-long Israel-Hamas conflict. 
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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.
Photo: Shutterstock.

Global

UN General Assembly Votes To Grant Palestine New Rights, Israel-Hamas Ceasefire Talks Stall

Canaccord Genuity analyst Richard Close maintains Evolent Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVH#NYSE">EVH</a>) with a Buy and lowers the price target from $44 to $41.

Canaccord Genuity Maintains Buy on Evolent Health, Lowers Price Target to $41

Keybanc&nbsp;analyst Brandon Nispel upgraded&nbsp;Warner Bros. Discovery&nbsp;Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>)&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/WBD/analyst-ratings" rel="noreferrer noopener">from Sector Weight to</a>&nbsp;Overweight and a $11&nbsp;price target.
WBD reported fiscal&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/05/38731379/warner-bros-discoverys-q1-revenue-drops-as-audience-and-market-challenges-persist" rel="noreferrer noopener">first-quarter revenue</a>&nbsp;of $9.96 billion, a 6.9% year-on-year decrease, according to Nispel.&nbsp;This&nbsp;was against a consensus of $10.25 billion. The total adjusted EBITDA of $2.10 billion, a 19.5% year-on-year decrease, fell short of the consensus of $2.18 billion.&nbsp;
Nispel added that a $200 million content impairment for the Studios segment negatively impacted the results.&nbsp;
However, free cash flow (FCF) of $390 million exceeded the consensus of $8.0 million, thanks to a strike that improved working capital and reduced capital spending.
Nispel noted that the numbers have likely bottomed out. Regardless, a resolution to the NBA issue&nbsp;is expected&nbsp;to be positive. Direct-to-consumer (DTC) profitability, subscriber growth, and average revenue per user (ARPUs)&nbsp;are all expected to&nbsp;continue improving.
According to Nispel, the stock&nbsp;is&nbsp;washed out and likely ready for a short-term rally due to these factors.&nbsp;As the numbers stop decreasing, an NBA resolution becomes apparent, and DTC continues to drive toward more meaningful profitability with subscriber or ARPU growth, WBD's multiple should revert to the mean, Nispel said.
For the second quarter, Nispel projected revenue of $9.81 billion (down from a previous estimate of $9.9 billion) and earnings per share (EPS) of $0.00.
Needham&nbsp;analyst Laura Martin reiterated a Hold rating on Warner Bros. Discovery. Martin highlighted the most significant upside surprise as WBD's Max bundle with&nbsp;Walt Disney Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) Disney+ and Hulu, set to launch this summer.&nbsp;
The analyst noted that this deal, along with the ESPN, WBD, or Fox Sports joint venture set to launch in September, suggests that large content creators will recreate larger bundles without the 50% payout to multichannel video programming distributors (MVPDs).
Martin's research indicates that churn decreases by 20% to 50% as the bundle expands, implying a rising lifetime value (LTV) for WBD and a stronger competitive position than unbundled streaming services.
For the second quarter, Martin projected revenue of $10.45 billion, up from a previous estimate of $10.27 billion, and earnings per share (EPS) of 15 cents.
BofA Securities&nbsp;analyst Jessica Reif Ehrlich reiterated a Buy rating on Warner Bros. Discovery&nbsp;with a price target of $14.
Reif Ehrlich noted that WBD has a compelling assortment of assets and views the current valuation of ~6x calendar year 2024 EV/EBITDA as undemanding.&nbsp;
As per the analyst, upcoming catalysts include incremental merger-related synergies, Max rollout internationally ahead of the Olympics, and potential recovery in advertising.&nbsp;
Notably, the outcome of the NBA media rights renewal is the most critical catalyst for the stock in the near term. It could significantly impact the company's earnings outlook and investor sentiment.
According to the analyst, WBD's first-quarter performance reflects the macro environment and secular challenges within the linear ecosystem.&nbsp;
The advertising market remains choppy; network advertising was -11%, reflecting audience declines in domestic general entertainment and news networks and soft linear advertising markets in the U.S. and Latin America.&nbsp;
Reif Ehrlich said the Studios segment was also challenged, mainly due to tough comps in gaming, the lingering strike impact on production, and a ~$200 million write-down associated with Suicide Squad.&nbsp;
With the advertising market stabilizing, DTC profitability progressing, an improving Studio segment, and continued expense management, the analyst noted that WBD will reach an inflection point in the next quarter or two.&nbsp;
Should this momentum continue into the second quarter and stop the downward trajectory of forward estimates, it could go a long way toward improving sentiment.
Reif Ehrlich projected second-quarter revenue of $10.43 billion.
Price Action:&nbsp;WBD shares traded higher by 1.75% at $8.18&nbsp;at&nbsp;the last check Friday.

Reiteration

Tech

Warner Bros. Discovery Eyes Turnaround with Upcoming Disney+ Bundle and NBA Deal, Analysts Say

Canaccord Genuity analyst David Hynes maintains EverCommerce (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVCM#NASDAQ">EVCM</a>) with a Buy and raises the price target from $12 to $13.

EVCM

Canaccord Genuity Maintains Buy on EverCommerce, Raises Price Target to $13

Canaccord Genuity analyst Bobby Burleson maintains Beyond Meat (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BYND#NASDAQ">BYND</a>) with a Hold and lowers the price target from $9 to $7.

BYND

Canaccord Genuity Maintains Hold on Beyond Meat, Lowers Price Target to $7

Canaccord Genuity analyst Whitney Ijem maintains Arcturus Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCT#NASDAQ">ARCT</a>) with a Buy and lowers the price target from $87 to $86.

ARCT

Canaccord Genuity Maintains Buy on Arcturus Therapeutics, Lowers Price Target to $86

U.S. stocks traded mixed toward the end of trading, with the Dow Jones gaining around 100 points on Friday.
The Dow traded up 0.24% to 39,482.36 while the NASDAQ fell 0.06% to 39,482.36. The S&amp;P 500 also rose, gaining, 0.11% to 5,219.64&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; .
Check This Out: <a href="https://www.benzinga.com/news/24/05/38759507/top-3-industrials-stocks-that-may-collapse-this-month">Top 3 Industrials Stocks That May Collapse This Month</a> 
Leading and Lagging Sectors Financials shares rose by 0.4% on Friday.
In trading on Friday, consumer discretionary shares fell by 0.7%.
Top Headline
The University of Michigan consumer sentiment declined to 67.4 in May versus 77.2 in the prior month, recording the weakest level in six months. However, markets were expecting a reading of 76.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Novavax, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVAX#NASDAQ">NVAX</a>) shares shot up 99% to $8.91 after the company and Sanofi announced a co-exclusive licensing agreement to commercialize a COVID-19 vaccine and develop COVID-influenza combination vaccines.</li>
<li>Shares of Sweetgreen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SG#NASDAQ">SG</a>) got a boost, surging 33% to $31.45 after the company reported better-than-expected first-quarter sales results.</li>
<li>AEye, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LIDR#NASDAQ">LIDR</a>) shares were also up, gaining 87% to $2.2042 after the company disclosed a partnership with LITEON Technology Corporation.</li>
</ul>
Equities Trading DOWN
<ul>
<li>MacroGenics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGNX#NASDAQ">MGNX</a>) shares dropped 77% to $3.3250 after the company reported worse-than-expected first-quarter financial results.</li>
<li>Shares of Evolv Technologies Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVLV#NASDAQ">EVLV</a>) were down 42% to $2.24 after the company reported worse-than-expected first-quarter financial results and lowered its FY24 sales guidance below estimates.</li>
<li>Flux Power Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLUX#NASDAQ">FLUX</a>) was down, falling 24% to $3.4791 after the company reported worse-than-expected quarterly financial results.</li>
</ul>
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Commodities In commodity news, oil traded down 1.2% to $78.31 while gold traded up 1.5% at $2,375.50.
Silver traded up 0.6% to $28.525 on Friday, while copper rose 1.6% to $4.6595.
Euro zone
European shares closed higher today. The eurozone's STOXX 600 rose 0.77%, Germany's DAX rose 0.46% and France's CAC 40 gained 0.38%. Spain's IBEX 35 Index rose 0.50%, while London's FTSE 100 rose 0.63%.
Industrial production in Italy declined by 0.5% month-over-month in March compared to a revised flat reading in the prior month.
The GDP in the UK expanded 0.4% month-over-month in March compared to revised 0.2% gain in February. UK&#8217;s trade deficit shrank to £1.098 billion in March versus a revised £1.478 billion in the previous month. Industrial production in the UK climbed 0.2% month-over-month during March.
Asia Pacific Markets
Asian markets closed higher on Friday, with Japan's Nikkei gaining 0.41%, China's Composite Index gaining 0.01%, Hong Kong's Hang Seng Index gaining 2.30% and India's S&amp;P BSE Sensex gaining 0.36%.
The gauge for Japan's service sector fell to 47.4 in April from 49.8 in the prior month, while value of loans in Japan rose 3.1% year-over-year in April. Japanese current account surplus widened to JPY 3,398.8 billion in March versus JPY 2,360.0 billion in the year-ago month.
Economics
<ul>
<li>The University of Michigan consumer sentiment declined to 67.4 in May versus 77.2 in the prior month, recording the weakest level in six months. However, markets were expecting a reading of 76.</li>
<li>The total number of active U.S. oil rigs slipped by 3 to 496 rigs this week, Baker Hughes Inc reported.</li>
</ul>
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Eurozone

Commodities

Intraday Update

Markets

EVLV

FLUX

MGNX

NVAX

Crude Oil Down 1%; Sweetgreen Shares Spike Higher

Canaccord Genuity analyst Kyle Mikson maintains Natera (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTRA#NASDAQ">NTRA</a>) with a Buy and raises the price target from $100 to $130.

NTRA

Canaccord Genuity Maintains Buy on Natera, Raises Price Target to $130

UBS analyst Rennie Pan maintains SharkNinja (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SN#NYSE">SN</a>) with a Buy and raises the price target from $76 to $83.5.

UBS Maintains Buy on SharkNinja, Raises Price Target to $83.5

Macro Economic Events

Economics

Federal Reserve

Fed's Kashkari Says The Bar Is High For Another Rate Hike, But Can't Rule It Out

White House Says Working Around The Clock To Get Ukraine What It Needs To Defend Against Russian Attacks; It Is Possible Russia Will Make Further Advances In Coming Weeks; U.S. Does Not Anticipate Any Major Russian Breakthroughs

UBS analyst Mark Carden maintains US Foods Hldg (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USFD#NYSE">USFD</a>) with a Buy and raises the price target from $64 to $67.

USFD

UBS Maintains Buy on US Foods Hldg, Raises Price Target to $67

BTIG analyst Clark Lampen maintains Roblox (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>) with a Buy and lowers the price target from $54 to $46.

RBLX

BTIG Maintains Buy on Roblox, Lowers Price Target to $46

UBS analyst Mark Carden maintains Warby Parker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WRBY#NYSE">WRBY</a>) with a Neutral and raises the price target from $13 to $15.

WRBY

UBS Maintains Neutral on Warby Parker, Raises Price Target to $15

Hawaiian Electric Industries Says From Aug 8, 2023 Through March 31, 2024 HEI & Units Incurred About $169M Of Maui Windstorm And Wildfires Expenses

UBS analyst Taylor McGinnis maintains Amplitude (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMPL#NASDAQ">AMPL</a>) with a Neutral and lowers the price target from $13 to $11.