HG CAPITAL TRUST by HG Capital Trust Stock (OTC: HGCTF)

Latest news for HG CAPITAL TRUST by HG Capital Trust (OTC:HGCTF) Stock

HG CAPITAL TRUST by HG Capital Trust

In Potash, Mosaic has encountered electrical equipment failures impacting both the Esterhazy and Colonsay mines. These operational challenges in aggregate are expected to reduce the&nbsp;third quarter&nbsp;potash production and shipment volumes by 200-300 thousand tonnes.
In Phosphate, production volumes and shipments during the quarter have been negatively impacted by weather events including Hurricane Francine with an estimated aggregate impact of 80-110 thousand tonnes.

News

Guidance

Mosaic Says Potash, Phosphate Operations Sustained Operational Challenges That Are Expected To Reduce Production Volumes, Shipments In Q3

Zedge, Inc. (NYSE:<a href="https://www.benzinga.com/stock/ZDGE#NYSE">ZDGE</a>), a leader in building digital marketplaces and friendly competitive games around content that people use to express themselves, today announced its Board of Directors approved a new share repurchase program for up to $5.0 million of its Class B common stock. This new program follows the completion of its prior $3.0 million share repurchase program on August 28, 2024, in which the Company bought back 1.2 million shares of its Class B common stock.
Jonathan Reich, Zedge's CEO commented, "Our new stock repurchase program highlights our strong belief that the market is significantly undervaluing Zedge. Both the Zedge Marketplace and Emojipedia are experiencing impressive double-digit revenue growth, with an increasing, robust cash position while Zedge continues to invest in growth and buy back our stock. The addition of innovative AI features like pAInt and fresh emoji content, combined with our relentless focus on maximizing ad revenue, translates into exciting upside potential. Additionally, we're making the changes needed at GuruShots to drive growth, most recently with the on-boarding overhaul and introduction of a coin-based economy, coupled with investment in profitable user acquisition campaigns."

Buybacks

ZDGE

Zedge Board Approved $5M Share Buyback Program

Through this grant, AdvanSix will further advance its Sustainable U.S. Sulfate to Accelerate Increased Nutrition (SUSTAIN) initiative at its site in Hopewell, VA where ammonium sulfate fertilizer is currently produced.

ASIX

AdvanSix Secures $12M Grant From U.S. Department Of Agriculture Through FPEP Supporting Expansion Of American Fertilizer Production

CACI International Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CACI#NYSE">CACI</a>) will announce during a conference call this morning, Sept. 16, at 8:30 a.m. Eastern time, that it has entered into a definitive agreement to acquire a company. During the call, CACI's executive leaders will discuss the details, followed by a question-and-answer session.

CACI

CACI International to Announce New Acquisition During September 16 Conference Call, Executives to Discuss Details

Biotech

Health Care

General

SMMT

Summit Therapeutics Says Ivonescimab Data Were Presented At 2024 ESMO Annual Meeting, Including Two Presentations And One Poster Featuring Updated Ivonescimab Data In Advanced Triple-negative Breast Cancer, Recurrent/Metastatic Head And Neck Squamous Cell Carcinoma, And Metastatic Microsatellite-stable Colorectal Cancer

On Monday, Gauzy Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GAUZ#NASDAQ">GAUZ</a>) announced that it will unveil the first generation of its AI-powered advanced driver assistance system (ADAS) exclusively for commercial trucks at IAA TRANSPORTATION 2024, which will take place from September 17 to September 22 at the Deutsche Messe AG venue in Hannover, Germany.
Gauzy&#8217;s ADAS for commercial trucks, which Ford (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) Trucks has chosen to integrate into select vehicles, will allow the company to generate additional revenue from its Safety-Tech division by capitalizing on the firm&#8217;s growing demand for its innovative Smart-VisionTM camera monitor system (CMS).
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/06/39430780/chinese-ev-maker-xpeng-offers-test-drive-of-its-adas-to-tesla-ceo-elon-musk-after-he-xiaopeng-tries" rel="noreferrer noopener">Chinese EV Maker Xpeng Offers Test Drive Of Its ADAS To Tesla CEO Elon Musk After He Xiaopeng Tries FSD</a>
The system improves safety and fleet efficiency and reduces fuel consumption in the global commercial trucking industry, valued at more than $2.2 trillion.
Gauzy&#8217;s Smart-Vision CMS enables commercial truck operators to have increased road visibility from multiple vantage points by eliminating blind spots. It is also programmed to send drivers real-time notifications to allow them to make smarter and safer decisions.
Gauzy&#8217;s Smart-Vision system offers advanced features with its self-learning and predictive capabilities. Adaptive maneuver lines are shown on the system&#8217;s display while a commercial truck is in motion and during trailer calibration so drivers can see the space between the trailer and an obstacle.
Additionally, the system is equipped to protect vulnerable road users (VRU) by accurately detecting a range of road obstructions, such as a pedestrian or cyclist on the road.
Gauzy&#8217;s is the first to offer backward panning functionality while a commercial truck is in reverse.
Moreover, Gauzy&#8217;s ADAS comes with collision avoidance or detection technology and blind spot information systems (BSIS), a UN regulation standard that leverages artificial intelligence to diminish the risk of accidents.
The company said that Surveillance mode is another differentiator of the Gauzy Smart-Vision CMS, providing trucking operators with an added measure of security by enabling them to monitor their trucks from a distance.
The system has the capability to record suspicious activity and send notifications directly to drivers&#8217; mobile devices anytime a camera depicts movement around the vehicle, helping mitigate the risk of theft and vandalism.
Recently, co-founder and CEO Eyal Peso, co-founder and Chief Technology Officer Adrian Lofer, CFO Meir Peleg Alejandro Weinstein and other <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g40829088/gauzy-ltd-announces-purchases-of-gauzy-shares-by-ceo-other-senior-executives-and-key-long-term-inv" rel="noreferrer noopener">senior executives</a> acquired an aggregate of 48,472 Gauzy shares at an average price of $10.35 per share for $0.50 million via open market purchases during August and September 2024.
Price Action: GAUZ stock closed higher by 2.12% at $9.62 on Friday.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/06/39434026/xpeng-revamps-smart-driving-team-launches-ai-division-to-stay-competitive-in-autonomous-race-rep" target="_blank" rel="noreferrer noopener">XPeng Revamps Smart Driving Team, Launches AI Division To Stay Competitive in Autonomous Race: Report</a></li>
</ul>
Photo via company

Market-Moving Exclusives

Exclusives

GAUZ

EXCLUSIVE: Gauzy To Showcase AI-Powered Driver Assistance System for Safer Commercial Trucks

EXCLUSIVE: Gauzy Tells Benzinga 'Replaces traditional mirrors with high-definition cameras and displays to improve road safety and reduce fuel consumption'

EXCLUSIVE: Gauzy Tells Benzinga 'Ford Trucks amongst first OEMs to select Gauzy's newest cutting-edge ADAS, Smart-VisionTM camera monitor system (CMS)'

EXCLUSIVE: Gauzy Tells Benzinga Co. To Unveil Next Generational AI-Powered Advanced Driver Assistance System For Commercial Truck At IAA Transportation 2024

Needham analyst Bernie McTernan reiterates DraftKings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>) with a Buy and maintains $60 price target.

Price Target

Reiteration

Analyst Ratings

DKNG

Needham Reiterates Buy on DraftKings, Maintains $60 Price Target

Alcoa Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) shares are trading higher after it entered a binding agreement with Saudi Arabian Mining Company (Ma&#8217;aden) to sell its 25.1% ownership in the<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40868965/alcoa-announces-agreement-to-sell-its-25-1-stake-in-maaden-joint-venture-to-maaden" rel="noreferrer noopener"> </a><a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40868965/alcoa-announces-agreement-to-sell-its-25-1-stake-in-maaden-joint-venture-to-maaden" rel="noreferrer noopener">Ma&#8217;aden Joint Venture</a><a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40868965/alcoa-announces-agreement-to-sell-its-25-1-stake-in-maaden-joint-venture-to-maaden" rel="noreferrer noopener"> for around $1.1 billion</a>.
The transaction comprises around 86 million Ma&#8217;aden shares, valued at $950 million based on the 30-day volume-weighted average price as of September 12, 2024, and $150 million in cash.
The 2009 Saudi joint venture includes Ma&#8217;aden Bauxite and Alumina Company&nbsp;(MBAC) and Ma&#8217;aden Aluminium Company&nbsp;(MAC). Alcoa holds 25.1% of the joint venture, valued at $545 million as of June 30, 2024.
As per the deal, Alcoa will retain its Ma&#8217;aden shares for at least three years, with one-third becoming transferable after the third, fourth, and fifth anniversaries of the transaction&#8217;s closing.
During this holding period, Alcoa can hedge or borrow against its shares. In certain conditions, the holding period may be shortened.
After the transaction, Alcoa will hold approximately 2% of Ma&#8217;aden&#8217;s outstanding shares.
The transaction is pending regulatory approvals, Ma&#8217;aden shareholder approval, and other customary conditions, with an expected closing in the first half of 2025.
William F. Oplinger, Alcoa&#8217;s President and CEO, said, &#8220;The transaction simplifies our portfolio, enhances visibility in the value of our investment in Saudi Arabia and provides greater financial flexibility for Alcoa, an important part of improving our long-term competitiveness.&#8221;
&#8220;Since 2009, Alcoa has been a valued partner of Ma&#8217;aden, and our aluminium business has benefited substantially from our strategic partnership,&#8221; stated Bob Wilt, Ma&#8217;aden&#8217;s CEO.
Alcoa closed the second quarter with a <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b39825296/alcoa-corporation-reports-second-quarter-2024-results" rel="noreferrer noopener">cash balance of $1.49 billion.</a>
Investors can gain exposure to the stock via&nbsp;Macquarie ETF Trust Macquarie Energy Transition ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWER#NYSE">PWER</a>) and SPDR S&amp;P Metals &amp; Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>).
Price Action: AA shares are up 1.45% at $32.99 premarket at the last check Monday.
Photo via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39845827/alcoas-profitability-program-reaping-results-analyst-sees-tailwinds-from-lagged-alu" target="_blank" rel="noreferrer noopener">Alcoa&#8217;s Profitability Program Reaping Results &#8211; Analyst Sees Tailwinds From Lagged Alumina Pricing</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

Large Cap

Asset Sales

Movers

PWER

Alcoa Pockets $1.1B From Saudi Joint Venture Sale: Details

Needham analyst Mayank Tandon reiterates Agilysys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGYS#NASDAQ">AGYS</a>) with a Buy and maintains $125 price target.

AGYS

Needham Reiterates Buy on Agilysys, Maintains $125 Price Target

Benchmark analyst Cody Acree initiates coverage on ARM Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) with a Hold rating.

Initiation

Benchmark Initiates Coverage On ARM Holdings with Hold Rating

ESSA Pharma Inc. ("ESSA", or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EPIX#NASDAQ">EPIX</a>), a clinical-stage pharmaceutical company focused on developing novel therapies for the treatment of prostate cancer, today announced the presentation of updated dose escalation data from its Phase 1/2 study evaluating masofaniten (formerly EPI-7386) in combination with enzalutamide at the 2024 European Society for Medical Oncology (ESMO) Congress, taking place September 13-17, 2024, in Barcelona, Spain. Masofaniten is a first-in-class N-terminal domain androgen receptor ("AR") inhibitor that suppresses androgen activity through a novel mechanism of action and is being developed for the treatment of prostate cancer. The poster presentation is available on the "Publications" section of the Company's website at&nbsp;www.essapharma.com.
"We are pleased to be sharing more mature data from the Phase 1 dose escalation study evaluating masofaniten in combination with enzalutamide today at ESMO 2024. The combination continues to be well tolerated with prolonged reductions in circulating prostate-specific antigen ("PSA") levels in patients with metastatic castration-resistant prostate cancer ("mCRPC"). After 15.2 months of follow up, neither median time to PSA progression nor radiographic progression free survival have been reached. These data compare favorably to historical data for single agent enzalutamide treatment in the mCRPC patient population," said David Parkinson, MD, President and CEO of ESSA. "We continue to focus on the enrollment of the Phase 2 dose expansion study evaluating masofaniten in combination with enzalutamide, with 33 sites activated in the US,&nbsp;Canada&nbsp;and&nbsp;Australia&nbsp;and an additional 22 sites anticipated in&nbsp;Europe. We look forward to providing further updates in 2025."
Poster presentation details:
&nbsp;
Title:&nbsp;Phase 1/2 trial of oral EPI-7386 (masofaniten) in combination with enzalutamide (Enz) compared with Enz alone in subjects with metastatic castration-resistant prostate cancer (mCRPC): Phase 1 results and Phase 2 design
Presenting Author:&nbsp;Christos Kyriakopoulos, MD, University of Wisconsin-Madison Carbone Cancer Center
Presentation #: 1641P Date and time: Sunday, September 15, 2024; 12:00-1:30 p.m. CEST/ 6:00-7:30 a.m. ET

EPIX

Prior Reported, ESSA Pharma Presents Data on Prostate Cancer Therapy Masofaniten at ESMO 2024, Shows Prolonged PSA Reduction

HC Wainwright &amp; Co. analyst Edward White reiterates Cullinan Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGEM#NASDAQ">CGEM</a>) with a Buy and maintains $28 price target.

CGEM

HC Wainwright & Co. Reiterates Buy on Cullinan Therapeutics, Maintains $28 Price Target

bp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>, LSE: BP.L)) and Apollo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) today announce an agreement for Apollo-managed funds (the "Apollo Funds") to purchase a non-controlling stake in bp Pipelines TAP Limited, the bp subsidiary that holds a 20% share in Trans Adriatic Pipeline AG (TAP) in a transaction valued at approximately $1 billion. Upon completion, bp will remain the controlling shareholder of bp Pipelines TAP Limited.
Trans Adriatic Pipeline AG is the owner and operator of a key infrastructure asset for meeting European energy demand - the final 880-kilometre leg of the Southern Gas Corridor pipeline system that transports natural gas from the bp-operated Shah Deniz gas field in the Azerbaijan sector of the Caspian Sea to markets in Europe such as Greece and Italy.&nbsp;&nbsp;
bp and Apollo will also look to partner on additional investment opportunities, including potential co-operation in both gas and low carbon energy assets, and infrastructure.&nbsp; &nbsp;
William Lin, bp EVP gas and low carbon energy: "We are very pleased to come together with Apollo on this key piece of Europe's energy infrastructure. Importantly, while bringing in a new investor, this does not diminish bp's role in a strategic asset for our Azerbaijan gas business. We see great potential in building innovative arrangements such as this and look forward to continuing to explore further opportunities with Apollo through growing this collaborative relationship."
Skardon Baker, Apollo Partner: "We are pleased to partner with bp on an agreement that can provide our investors with long-term exposure to an industry-leading infrastructure asset with a stable cash flow profile, while allowing bp to meet its objectives of retaining control and executing on its capital efficiency strategy."
Leslie Mapondera, Apollo Partner: "This innovative transaction structure is indicative of the types of bespoke solutions we can provide at Apollo, and we believe we are ideally positioned to execute on additional strategic transactions with bp. Together, we see more potential opportunities, as we look to leverage Apollo's long-term capital and sustainability &amp; infrastructure investment expertise to partner with bp on its strategic plans, including energy transition opportunities."
The proceeds from the transaction will contribute to bp's 2024 divestment and other proceeds target of $2-3 billion, part of the company's disciplined financial frame. The transaction is expected to close in 4Q 2024, subject to customary regulatory and partner approvals required.

BP Sells $1B Stake in Trans Adriatic Pipeline to Apollo, Retains Control, Eyes Future Gas and Low-Carbon Projects

Wedbush analyst Nick Setyan maintains Wingstop (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>) with a Outperform and raises the price target from $425 to $440.

WING

Wedbush Maintains Outperform on Wingstop, Raises Price Target to $440

Wolfe Research analyst Bill Carache downgrades Kinsale Cap Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNSL#NYSE">KNSL</a>) from Outperform to Peer Perform.

Downgrades

KNSL

Wolfe Research Downgrades Kinsale Cap Gr to Peer Perform

Contracts

Tech

INTC

Sony Group Corporation American Depositary Shares

SONY

Reuters Reported Intel Lost Out On Next-gen Sony PlayStation Chip Business To AMD; Sony PlayStation 6 Chips Worth More Than $30B In Revenue Over ~Five Years

MODV

Modivcare Has Revised Its 2024 Adjusted EBITDA Forecast From $185M–$195M To $170M–$180M Due To Pricing Accommodations In NEMT Segment. The Company Also Anticipates 2025 Adjusted EBITDA Growth Of Over 10%

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Comments

HG CAPITAL TRUST by HG Capital Trust

News

Latest news for HG CAPITAL TRUST by HG Capital Trust (OTC:HGCTF) Stock