Harrow, Inc. - 8.625% senior notes due 2026 Stock (NASDAQ: HROWL)

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Harrow, Inc. - 8.625% senior notes due 2026

Baird analyst Ghansham Panjabi downgrades Berry Global Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BERY#NYSE">BERY</a>) from Outperform to Neutral and lowers the price target from $68 to $65.

News

Downgrades

Price Target

Analyst Ratings

BERY

Baird Downgrades Berry Global Gr to Neutral, Lowers Price Target to $65

Elon Musk, the CEO of Tesla Inc., engaged in a moment of nostalgia, reflecting on his past on Twitter on Tuesday.
What Happened: Musk responded to a post by user DogeDesigner, who shared a snapshot of Musk&#8217;s profile from 2012 along with his posts on X, formerly Twitter.
Musk commented, &#8220;Feels so long ago.&#8221; 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Feels so long ago
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1780076503197229521?ref_src=twsrc%5Etfw">April 16, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/24/04/38243189/elon-musk-reacts-to-his-21-year-old-profile-calling-tesla-ceo-the-six-million-dollar-man-feels-like?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts To His 21-Year-Old Profile Calling Tesla CEO &#8216;The Six Million Dollar Man:&#8217; &#8216;Feels Like A</a>
Why It Matters: This comes amid significant operational changes at Tesla. Recent reports indicate that Musk has taken drastic measures at Tesla, including laying off over 10% of the company&#8217;s workforce. A social media post liked by Musk suggested he is <a href="https://www.benzinga.com/news/24/04/38263933/elon-musk-re-enters-wartime-ceo-mode-tesla-chief-explains-necessity-of-massive-job-cuts-amid-report">re-entering &#8220;wartime CEO&#8221; mode</a>, focusing on Tesla&#8217;s robotaxi project. 
Moreover, the layoffs have<a href="https://www.benzinga.com/markets/equities/24/04/38262559/the-street-wants-and-needs-answers-from-elon-musk-on-tesla-layoffs-dan-ives-demands-rationale-fo"> prompted calls for clarity</a> from industry analysts. Wedbush analyst Dan Ives has publicly demanded a rationale for the cost-cutting measures, especially following a quarter where Tesla saw a 20% drop in deliveries. The electric vehicle giant is under pressure to reassure investors and stakeholders about its future direction. 
On Sunday, he also had a trip down memory lane, reacting to a 21-year-old profile that called<a href="https://www.benzinga.com/news/24/04/38243189/elon-musk-reacts-to-his-21-year-old-profile-calling-tesla-ceo-the-six-million-dollar-man-feels-like"> him &#8220;The Six Million Dollar Man&#8221;</a> when the tech billionaire&#8217;s space dreams were still in their infancy.
Read Next: <a href="https://www.benzinga.com/news/24/04/38246375/hyundai-blazes-past-tesla-ioniq-5-robotaxi-aces-simulated-driving-test-already?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Hyundai Blazes Past Tesla: IONIQ 5 Robotaxi Aces Simulated Driving Test (Already!)</a>
Image created using photos on Shutterstock
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Tech

General

'Feels So Long Ago': Elon Musk Reacts To His Old Profile From 2012 On Twitter

Earnings

MBWM

Mercantile Bank Q1 Provisions For Credit Losses $1.3M Vs. $0.6M YoY

Mercantile Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBWM#NASDAQ">MBWM</a>) reported quarterly earnings of $1.34 per share which beat the analyst consensus estimate of $1.14 by 17.54 percent. This is a 2.29 percent increase over earnings of $1.31 per share from the same period last year. The company reported quarterly sales of $58.20 million which beat the analyst consensus estimate of $55.38 million by 5.09 percent. This is a 5.18 percent increase over sales of $55.34 million the same period last year.

Mercantile Bank Q1 EPS $1.34 Beats $1.14 Estimate, Sales $58.20M Beat $55.38M Estimate

Macro Economic Events

Econ #s

Economics

Eurozone ZEW Economic Sentiment For April 43.9 Vs. 37.2 Est.; 33.5 Prior

Eurozone Trade Balance For February 23.6B Vs. 11.4B Prior

Germany ZEW Economic Sentiment For April 42.9 Vs. 35.9 Est.; 31.7 Prior

Aurora Mobile's AI Bot Creation Platform GPTBots.AI Unveils Asia's First On-premise AI Bot Platform

Germany ZEW Current Conditions For April -79.2 Vs. -80.5 Prior

<a href="https://www.reuters.com/business/autos-transportation/tesla-global-job-cuts-hit-china-sales-team-sources-say-2024-04-16/" title="https://www.reuters.com/business/autos-transportation/tesla-global-job-cuts-hit-china-sales-team-sources-say-2024-04-16/">https://www.reuters.com/business/autos-transportation/tesla-global-job-cuts-hit-china-sales-team-sources-say-2024-04-16/</a>

TSLA

Reuters Reported Earlier, Tesla's Global Job Cuts Affecting China Sales Team, Citing Sources

WIIM

ERIC

Ericsson shares are trading higher after the company reported better-than-expected Q1 EPS results.

<a href="https://www.wsj.com/business/media/live-nation-justice-department-antitrust-lawsuit-ab98c268?mod=hp_lead_pos1" title="https://www.wsj.com/business/media/live-nation-justice-department-antitrust-lawsuit-ab98c268?mod=hp_lead_pos1">https://www.wsj.com/business/media/live-nation-justice-department-antitrust-lawsuit-ab98c268?mod=hp_lead_pos1</a>

Legal

Wall Street Journal Reported Monday, Justice Department to File Antitrust Suit Against Live Nation as Soon as Next Month, Sources Say

Offerings

FLUT

Flutter Entertainment Announces Launch Of Offering Of $1.050B Of Senior Secured Notes Due 2029

In a significant development that could have far-reaching implications, Israel is contemplating a response to Iran&#8217;s <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38238575/iran-launches-drone-attack-on-israel-in-escalation-of-tensions-bitcoin-drops-sharply-in-re">direct attack </a>on its territory. The assault, which involved missiles and drones, has raised concerns about a potential escalation in the Middle East.
What Happened: Israeli Prime Minister Benjamin Netanyahu gathered his war cabinet on Monday to discuss potential responses to Iran&#8217;s direct assault, as Reuters reported. Over the weekend, missiles and drones targeted Israeli soil in what Iran claims was retaliation for an Israeli airstrike in Damascus earlier in the month.
The Israeli Military Chief of Staff, Herzi Halevi, has stated Israel&#8217;s intention to retaliate, although details of the response remain undisclosed. The strike has escalated fears of open conflict between Israel and Iran, despite causing no fatalities and limited damage.
International leaders, including U.S. President Joe Biden and the European Union&#8217;s foreign affairs chief, Josep Borrell, have called for restraint. The Pentagon has affirmed its defense commitment to Israel but emphasized a desire to avoid escalating hostilities.
The incident has impacted air travel, with airlines canceling or rerouting flights. The G7 is also reportedly considering sanctions against Iran, potentially targeting individuals linked to the attack.
See Also: <a href="https://www.benzinga.com/news/24/04/38230942/elon-musk-says-democrats-will-vote-against-trump-and-mike-johnsons-proposed-legislation-against-non?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Democrats Will &#8216;Vote Against&#8217; Trump And Mike Johnson&#8217;s Proposed Legislation Against Non-Citizen Voting: &#8216;Will Be Surprised If Even One Dem Votes For It&#8217;</a>
Why It Matters: The recent drone attack by Iran on Israel <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38238575/iran-launches-drone-attack-on-israel-in-escalation-of-tensions-bitcoin-drops-sharply-in-re">marks a significant escalation in tensions</a>. This attack followed an Israeli airstrike on an Iranian embassy complex in Syria, indicating a tit-for-tat dynamic that could spiral out of control.
As Israel deliberates its next steps, <a href="https://www.benzinga.com/news/24/04/38239895/as-israel-weighs-next-move-after-irans-unprecedented-attack-western-allies-urge-restraint">it faces pressure from Western allies </a>to exercise restraint to prevent further escalation in the region. The specialized three-member war cabinet of Israel is in charge of formulating strategic responses to such grave threats.
Amid these developments, Ukrainian President Volodymyr Zelenskyy has <a href="https://www.benzinga.com/news/24/04/38243474/irans-attack-on-israel-is-wake-up-call-for-us-to-back-american-allies-ukraines-zelenskyy">called the attack a &#8220;wake-up call&#8221;</a> for the U.S. to bolster support for its allies.
The impact of the attack extends to global markets, with potential repercussions for oil prices and the risk of a recession. There was<a href="https://www.benzinga.com/news/24/04/38255115/how-irans-attack-against-israel-will-impact-gas-prices-you-pay-at-the-pump"> a sharp drop in the stock market </a>and a spike in oil prices due to the attack, underscoring the economic risks of a military escalation in the oil-rich Middle East.
Read Next: <a href="https://www.benzinga.com/news/24/04/38234866/trumps-niece-says-ex-presidents-legal-team-taking-stroll-in-minefield-every-step-triggers-another-se?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Niece Says Ex-President&#8217;s Legal Team Taking &#8216;Stroll In Minefield:&#8217; &#8216;Every Step Triggers Another&#8230;Setback&#8217;</a>
Image via Shutterstock
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 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> 
 
 
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 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. 
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Politics

Global

Middle East Tensions Mount As Israel Considers Retaliation After Iran's Direct Attack

<ul>
<li>Creates Significant Shareholder Value and a Global Leader in Sustainable Packaging Solutions with a Focus on Attractive and Growing North American and European Regions</li>
<li>Strengthens Customer Value Proposition Through Enhanced Offerings, Innovation&nbsp;and Geographic Reach</li>
<li>Expected to Achieve Significant Synergies of At Least&nbsp;$514 Million</li>
<li>EPS Accretive in Year One with a Strong Investment-Grade Balance Sheet</li>
<li>Shared Commitment to Sustainability and Responsible Growth</li>
</ul>

DSSMY

International Paper To Acquire DS Smith For $9.9B, Expects To Deliver $514M In Synergies

Entertainment

Carnival Corporation Announces The Redemption Of Existing €500M Notes And Launch Of New Senior Unsecured Notes Offering For Interest Expense Reduction

Detroit-based automaker&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38091984/gms-silverado-rst-range-exceeds-cybertruck-and-other-ev-rivals-popular-youtuber-says-this-truck-is-a" rel="noreferrer noopener">General Motors Co</a>.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) announced Monday it will relocate its global headquarters to a new downtown Detroit building in 2025. Unlike rivals&nbsp;Ford&nbsp;and&nbsp;Chrysler, GM remains committed to the city.
What Happened:&nbsp;GM&#8217;s new headquarters at Hudson&#8217;s will be located just a few blocks from its current headquarters at Renaissance Center. This move marks the automaker&#8217;s fourth headquarters location in Detroit since 1911.
"We are proud to remain in the city of Detroit in a modern office building that fits the evolving needs of our workforce, right in the heart of downtown," said GM Chair and CEO&nbsp;Mary Barra.&nbsp;
The new building will provide ample space for its teams as well as showcase areas for GM vehicles, she added.
The company has entered into an initial 15-year lease for several floors of the building, including showcase space on the street level for GM vehicles, according to a company statement.
Why It Matters: The Big Three automakers – Ford, General Motors, and Chrysler – were all previously headquartered in Detroit, earning the city its nickname &#8220;Motor City.&#8221; 
Ford and Chrysler have since moved their headquarters <a href="https://www.benzinga.com/news/23/04/32007765/ford-takes-first-steps-to-restore-detroits-auto-industry-legacy-with-new-michigan-central-station-re" target="_blank" rel="noreferrer noopener">to Dearborn</a> and Auburn Hills in Michigan, respectively. With this move, GM will be the only remaining automaker with its headquarters within Detroit city limits.
Read More: <a href="https://www.benzinga.com/news/24/04/38263933/elon-musk-re-enters-wartime-ceo-mode-tesla-chief-explains-necessity-of-massive-job-cuts-amid-report">Elon Musk Re-Enters &#8216;Wartime CEO&#8217; Mode? Tesla Chief Explains Necessity Of Massive Job Cuts Amid Report Of Critical Giga Texas Projects At Risk</a>
Photo via Shutterstock

GM To Make 4th HQ Move But Remains Sole 'Big Three' Automaker To Stay Put In Detroit

Roth CH Acquisition Co announced that it has notified the Nasdaq Stock Market LLC (&quot;Nasdaq&quot;) of its decision to voluntarily delist its Class A Ordinary Shares, Units and Warrants exercisable for one Class A Ordinary Share at an exercise price of&nbsp;$11.50&nbsp;from the Nasdaq Global Market. The Company intends to file a Form 25 with the Securities and Exchange Commission (the &quot;SEC&quot;) to remove its Class A Ordinary Shares, Units, and Warrants from listing on the Nasdaq Global Market on or about April 25, 2024 and as a result, the delisting is expected to become effective on or about April 25, 2024. The Company will remain subject to such reporting obligations under Sections 13 and 15(d) of the Exchange Act.

USCT

Reported Earlier, Roth CH Acquisition To Voluntarily Delist From Nasdaq

Tech billionaire Elon Musk has admitted that the only way to <a href="https://www.benzinga.com/news/24/04/38195904/elon-musk-finally-appears-to-be-taking-clickbait-and-irrelevant-replies-on-twitter-seriously-x-algor">solve the bot problem</a> on his social media platform X, formerly Twitter, is by charging new users a small fee.
What Happened: Musk confirmed on X that the social media platform plans to charge a small fee to allow new users to post on X. Culling the bots seems to be Musk's primary driver behind this decision.
"Unfortunately, a small fee for new user write access is the only way to curb the relentless onslaught of bots."
He explained that the current AI and troll farms can easily bypass the &#8220;Are you a bot&#8221; question and create fake accounts, which in turn exhausts the available username pool.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The onslaught of fake accounts also uses up the available namespace, so many good handles are taken as a result
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1779941973731762223?ref_src=twsrc%5Etfw">April 15, 2024</a></blockquote>
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Musk revealed that despite freeing up over a million usernames, the bot armies quickly reclaimed them.
See Also: <a href="https://www.benzinga.com/news/24/04/38243800/another-setback-for-elon-musk-after-ccdh-lawsuit-thrown-out-media-matters-wins-injunction-against-te">Another Setback For Elon Musk: After CCDH Lawsuit Thrown Out, Media Matters Wins Injunction Against Texas AG&#8217;s Investigation</a>
&#8220;We've freed up over a million so far. Will free up tens of millions in the coming weeks. However, as soon as we do this, the bot armies immediately snatch the namespace back again!"
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We've freed up over a million so far. Will free up tens of millions in the coming weeks. However, as soon as we do this, the bot armies immediately snatch the namespace back again!
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1779945003705397427?ref_src=twsrc%5Etfw">April 15, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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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: In October, Musk's X <a href="https://www.benzinga.com/news/23/10/35300682/just-joining-elon-musks-x-you-will-now-have-to-shell-out-1-for-proper-access-if-you-live-in-these-tw">introduced a $1 annual subscription fee</a> for new users in New Zealand and the Philippines as part of the &#8220;Not A Bot&#8221; program. The primary goal was to mitigate spam, manipulation, and bot activity on the platform.
The move was seen as a step towards combating the massive influx of bots on the platform.
Security researcher <a href="https://www.benzinga.com/news/23/10/35303023/elon-musks-decision-to-charge-1-for-new-x-accounts-will-put-a-massive-dent-to-abuse-security-researc">Troy Hunt </a><a href="https://www.benzinga.com/news/23/10/35303023/elon-musks-decision-to-charge-1-for-new-x-accounts-will-put-a-massive-dent-to-abuse-security-researc">noted</a> that Musk&#8217;s decision to charge a $1 annual fee for new accounts on X could combat the massive problem of platform abuse and bots. The nominal $1 fee would unlock the ability to post.
Earlier, <a href="https://www.benzinga.com/news/large-cap/23/09/34733738/pay-to-tweet-is-musks-answer-to-bots-on-x-will-users-flock-to-metas-threads">Musk noted that</a> bot accounts only have access to "so many" payment options, and charging a small monthly fee to all users should weed out any bot activity.
Check out more of Benzinga&#8217;s Future Of Consumer Tech by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next: <a href="https://www.benzinga.com/news/24/04/38178568/elon-musk-reacts-to-old-clip-of-apple-co-founder-steve-jobs-saying-theres-a-tremendous-amount-of-cra?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts To Old Clip Of Apple Co-Founder Steve Jobs Saying &#8216;There&#8217;s A Tremendous Amount Of Crafts</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Social Media

Elon Musk Says Charging New X Users A 'Small Fee' Is The Only Way To Curb Bot Onslaught

The amended and restated credit facility matures on April 15, 2028 (with two six-month extension options) and has an accordion feature expandable to&nbsp;$900 million, subject to customary conditions.

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25% Off Benzinga's Most Powerful Trading Tools

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Harrow, Inc. - 8.625% senior notes due 2026 Stock (NASDAQ:HROWL), Trade Ideas