Hycroft Mining Holding Stock (NASDAQ: HYMC)

Hycroft Mining Holding Stock (NASDAQ:HYMC), Trade Ideas

Hycroft Mining Holding

Hycroft Mining Holding Corp is a gold and silver producer. Its operating mine, the Hycroft Mine, is an open-pit heap leach operation located approximately fifty four miles west of Winnemucca, Nevada.

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Precious metals surge on potential 2024 Fed rate cuts based on inflation data and growing confidence. Gold reaches record highs, mining stocks rally.

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The International Monetary Fund (IMF) has raised concerns about a small number of hedge funds that now hold significant control over the <a href="https://www.benzinga.com/topic/treasuries">U.S. Treasury futures market. </a>
&#8220;A concentration of vulnerability has built up, as a handful of highly leveraged funds account for most of the short positions in Treasury futures,&#8221; the IMF&#8217;s April 2024 Global Financial Stability (GFS) report states. 
This concentration of short positions by highly leveraged funds could pose systemic threats to the financial stability of not just the U.S., but the global economy, according to the Washington-based institution. 
<h3 class="wp-block-heading">Increasing Bets On Treasury Futures By Hedge Funds</h3>
Leveraged hedge funds have ramped up their short positions in U.S. Treasury futures, capitalizing on the basis trade, which involves exploiting the price discrepancies between cash Treasuries and their futures counterparts. 
These funds use borrowed money from the repurchase-agreement (repo) market to increase their potential returns. 
The IMF warns that the scale of these bets has grown large enough to spark concerns among financial stability observers.
&#8220;Some of these funds may have become systemically important to the Treasury and repo markets, and stresses they face could affect the broader financial system,&#8221; the IMF stated. 
<h3 class="wp-block-heading">Too Big To Fail?</h3>
Essentially, the report suggests that certain funds have become so crucial to the Treasury and repo markets that they might now be considered too big to fail.
Any significant liquidity problems they encounter could ripple through the broader financial system, causing widespread instability.
The concentration of leverage among these funds is stark. Nearly half of all two-year Treasury futures positions are held by fewer than eight traders. For longer maturities like five and ten years, just eight hedge funds control about 30% of the market.
In August last year, hedge fund manager Bill Ackman made headlines by initiating a short position on U.S. 30-year Treasuries, anticipating <a href="https://www.benzinga.com/government/23/08/33547572/hedge-fund-guru-bill-ackman-bets-against-us-treasuries-expects-30-year-yields-to-surge-to-5-5">soaring U.S. budget deficits. </a> This move netted him over $200 million when he closed <a href="https://www.benzinga.com/general/hedge-funds/23/10/35375749/bill-ackman-exits-treasury-bond-short-position-warns-economy-slowing-faster-than-recent-data-">the position in October.</a>
So far in 2024, U.S. Treasury bonds have underperformed. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) has dropped almost 9% since the beginning of the year, and the Vanguard Extended Duration Treasury ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDV#NYSE">EDV</a>) has seen a decline exceeding 12%.
<h3 class="wp-block-heading">US Debt-To-GDP Ratio Set To Rise To 134% By 2029</h3>
It remains uncertain whether the hedge funds&#8217; substantial short positions are in part a bet against U.S. fiscal health, anticipating that yields will remain elevated due to ongoing loose fiscal policies. 
The IMF&#8217;s &#8216;Fiscal Monitor&#8217; suggests that increasing public debt, primarily in China and the United States, coupled with tightening monetary policies, are contributing to higher long-term government bond yields and their volatility in the U.S.
In 2023, the U.S. general government fiscal deficit expanded dramatically to 8.8% of GDP, up from 4.1% the previous year, driven by a sharp decline in income tax revenues and increased spending. The deficit is expected to slightly decrease to 6.6% of GDP in 2024 but will rise again in 2025.
The IMF projects that the U.S. debt-to-GDP ratio will continuously climb from 122% in 2023 to nearly 134% by 2029.
"Public gross financing needs will remain at levels higher than those before the pandemic over the medium term based on high existing debt burdens and persistent fiscal deficits. China and the United States have large gross financing needs of more than 25 percent of GDP in the near term,&#8221; the IMF wrote. 
The IMF&#8217;s forecasts suggest that the U.S. Treasury will need to issue a substantial amount of bonds to refinance maturing debt and cover the spiraling deficit, a reality that hedge funds are keenly exploiting.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Year</td>
<td>Government Deficit (As % of GDP)</td>
<td>Government Debt As % of GDP</td>
</tr>
<tr>
<td>2023</td>
<td>-8.8</td>
<td>122.1</td>
</tr>
<tr>
<td>2024</td>
<td>-6.5</td>
<td>123.3</td>
</tr>
<tr>
<td>2025</td>
<td>-7.1</td>
<td>126.6</td>
</tr>
<tr>
<td>2026</td>
<td>-6.6</td>
<td>128.9</td>
</tr>
<tr>
<td>2027</td>
<td>-6.2</td>
<td>130.7</td>
</tr>
<tr>
<td>2028</td>
<td>-6.4</td>
<td>132.6</td>
</tr>
<tr>
<td>2029</td>
<td>-6</td>
<td>133.9</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Data: IMF Fiscal Monitor – April 2024</figcaption></figure>
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38319509/treasury-yields-head-to-danger-zone-analyst-forecasts-potential-spike-to-5-disorder">Treasury Yields Head To &#8216;Danger Zone&#8217;: Analyst Forecasts Potential Spike To 5%, Disorderly Sell-Off For Markets</a>
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iShares Trust Barclays 20+ Year Treasury Bond Fund

Small Group Of Hedge Funds Wields Dominance In US Treasury Market: 'A Concentration Of Vulnerability Has Built Up,' IMF Warns

OceanFirst Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCFC#NASDAQ">OCFC</a>) reported quarterly earnings of $0.44 per share which beat the analyst consensus estimate of $0.41 by 7.32 percent. This is a 20 percent decrease over earnings of $0.55 per share from the same period last year. The company reported quarterly sales of $86.22 million which missed the analyst consensus estimate of $87.40 million by 1.35 percent. This is a 12.73 percent decrease over sales of $98.80 million the same period last year.

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OceanFirst Financial Q1 Adj $0.44 Beats $0.41 Estimate, Sales $86.22M Miss $87.40M Estimate

Glacier Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBCI#NYSE">GBCI</a>) reported quarterly earnings of $0.29 per share which missed the analyst consensus estimate of $0.33 by 12.12 percent. This is a 47.27 percent decrease over earnings of $0.55 per share from the same period last year. The company reported quarterly sales of $166.48 million which missed the analyst consensus estimate of $171.55 million by 2.96 percent. This is a 10.59 percent decrease over sales of $186.19 million the same period last year.

GBCI

Glacier Bancorp Q1 EPS $0.29 Misses $0.33 Estimate, Sales $166.48M Miss $171.55M Estimate

Silong Chen, Chairman and Chief Executive Officer of Dogness, commented, "We continue to face challenges due to intense competition in the domestic market and the ongoing trade dispute between China and the United States, which are impacting and will likely continue impacting our domestic and export sales in the near future."
"The decrease in the Company's revenue during the half year ended December 31, 2023 was also partially caused by a significant drop in the average selling price of our intelligent pet products and further affected by decreases in sales volume. To counter the effects of weak sales, we are actively focused on expanding our customer base and exploring new markets by developing more new high-tech products to differentiate us from competitors and meet customer demands. In particular, we are targeting younger consumers who show a strong interest in our smart pet products. We are also implementing cost-saving measures to streamline supply chain processes, enhance production efficiency and improve profit margins."
"We also target to actively seek merger and acquisition opportunities to capitalize on industry challenges and expand our market presence. By acquiring complementary companies, we can strengthen our industrial chain and exercise greater control over manufacturing costs. Through effective cost control we aim to improve sales performance and margins, so to deliver strong return on investment for our valued shareholders in the near future."

DOGZ

Silong Chen, Chairman And CEO Says "We Continue To Face Challenges Due To Intense Competition In The Domestic Market And The Ongoing Trade Dispute Between China And The United States, Which Are Impacting And Will Likely Continue Impacting Our Domestic And Export Sales In The Near Future."

Financial Results for the Half Year Ended December 31, 2023
Revenues decreased by approximately $3.7 million, or 35.8%, to approximately $6.7 million for the six months ended December 31, 2023 from approximately $10.4 million for the same period in 2022. The decrease in revenue was primarily attributable to the significant decrease in sales for both domestic and international markets.
The following table breaks down Dogness' revenue by product and service type for the six months ended December 31, 2023 and 2022:
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="5" rowspan="1">For the six months ended December 31,</td>
<td colspan="3" rowspan="1"> &nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="2" rowspan="1">2023</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="2" rowspan="1">2022</td>
<td colspan="3" rowspan="1"> &nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Products and services category</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="2" rowspan="1">Revenue</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="2" rowspan="1">Revenue</td>
<td colspan="3" rowspan="1">Variance %</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Products</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Traditional pet products</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">3,601,676</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">4,720,547</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">(23.7)</td>
<td colspan="1" rowspan="1">%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Intelligent pet</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2,234,220</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">4,909,115</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">(54.5)</td>
<td colspan="1" rowspan="1">%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Climbing hooks and others</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">761,742</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">722,312</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">5.5</td>
<td colspan="1" rowspan="1">%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Total revenue from products</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">6,597,638</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">10,351,974</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">(36.3)</td>
<td colspan="1" rowspan="1">%</td>
</tr>
<tr>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Services</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Dyeing services</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">77,049</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Other services</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">46,633</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">(100.0)</td>
<td colspan="1" rowspan="1">%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Total revenue from services</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">77,049</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">46,633</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">65.2</td>
<td colspan="1" rowspan="1">%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Total</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">6,674,687</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">$</td>
<td colspan="1" rowspan="1">10,398,607</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">(35.8)</td>
<td colspan="1" rowspan="1">%</td>
</tr>
</tbody>
</table>
</figure>
─&nbsp;Traditional pet products
Revenue from traditional pet products decreased by $1.1 million or 23.7%, from $4.7 million in the six months ended December 31, 2022, to $3.6 million in the six months ended December 31, 2023. The decline was due to a $0.40 decrease in average selling price per unit.
─ Intelligent pet products
Revenue from intelligent pet products decreased by $2.7 million or 54.5%, from $4.9 million in the six months ended December 31, 2022, to $2.2 million in the six months ended December 31, 2023. The decrease was driven by a $28.40 decrease in average selling price per unit, and more low-value intelligent pet products were sold during the six months ended December 31, 2023, compared to the same period in 2022.
─ Climbing hooks and others
Revenue from climbing hooks and other products increased by $39 thousand from $0.7 million in the six months ended December 31, 2022, to $0.8 million in the six months ended December 31, 2023. The increase was due to a $0.10 increase in average selling price per unit.
─ Dyeing service
For the six months ended December 31, 2023 and 2022, the Company earned approximately $0.1 million and $Nil, respectively, in dyeing service fees.
─ International vs. Domestic sales
International sales decreased by approximately $2.3 million or 33.7%, to $4.5 million for the six months ending December 31, 2023, compared to $6.8 million in the same period in 2022. The decline was primarily driven by a significant drop in the average selling price of intelligent pet products during this period.
Domestic sales decreased by approximately $1.4 million or 39.9%, from approximately $3.5 million for the six months ended December 31, 2022, to approximately $2.1 million for the six months ended December 31, 2023. The decrease was mainly due to a decrease in customer orders caused by intense competition in the domestic market.
Cost of revenues was approximately $5.4 million during the six months ending December 31, 2023, compared to around $7.7 million for the same period in 2022. This decrease was due to a significant drop in the average unit cost of intelligent pet products. The cost of goods sold as a percentage of revenues increased by about 6.5 percentage points, reaching 80.4% for the six months ending December 31, 2023, compared to 73.9% in 2022.
Gross profit&nbsp;decreased by approximately $1.4 million or 51.7%, to about $1.3 million for the six months ending December 31, 2023, compared to around $2.7 million in 2022. This decline was primarily due to the lower average selling price of our intelligent pet products. The overall gross profit margin was 19.6%, a decrease of 6.5 percentage points from the 26.1% margin achieved in 2022.
Total operating expenses&nbsp;decreased by approximately $1.4 million or 21.8%, to about $4.9 million for the six months ending December 31, 2023, compared to around $6.2 million for the same period in 2022.
─ Selling expenses
Selling expenses decreased by approximately $1.0 million or 64.8%, from around $1.5 million to about $0.5 million. The decrease was due to reduced marketing research activities. As a percentage of sales, selling expenses were 7.9% in 2023 and 14.4% in 2022.
─ General and administrative expenses
General and administrative expenses decreased by about $0.3 million or 7.6%, from around $4.2 million to approximately $3.9 million. The decrease was mainly due to lower consultant fees and expenses associated with furnishing the new facility. As a percentage of sales, general and administrative expenses were 58.0% in 2023 and 40.3% in 2022.
─ Research and development expenses
Research and development expenses decreased by $0.1 million or 12.4%, from $0.6 million to approximately $0.5 million. As a percentage of sales, research and development expenses were 7.3% in 2023 and 5.3% in 2022.
Net loss was approximately $3.2 million for the six months ended December 31, 2023, as compared to approximately $3.0 million for the six months ended December 31, 2022. The increased net loss was the result of decreased sales and gross profit, offset by decreased operating expenses as discussed above.

Dogness Half Year Ended December 31, 2023 Revenue $6.7M VS $10.4M YoY

Hilltop Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HTH#NYSE">HTH</a>) reported quarterly quarterly sales of $103.62 million which missed the analyst consensus estimate of $109.53 million by 5.39 percent. This is a 14.86 percent decrease over sales of $121.70 million the same period last year.

Hilltop Hldgs Q1 Sales $103.62M Miss $109.53M Estimate

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Intuitive Surgical Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>) reported first-quarter financial results Thursday after the market close. Here&#8217;s a look at the <a href="https://www.benzinga.com/pressreleases/24/04/g38323698/intuitive-announces-first-quarter-earnings">key metrics from the quarter</a>.
Q1 Earnings: Intuitive Surgical reported first-quarter revenue of $1.89 billion, which beat the&nbsp;<a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">consensus estimate</a>&nbsp;of $1.87 billion, according to&nbsp;<a href="https://benzinga.grsm.io/gxjhpowx7zks" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>. The robotic-assisted surgery company&#8217;s top-line results were up 11% on a year-over-year basis. 
Intuitive Surgical reported quarterly adjusted earnings of $1.50 per share, which beat analyst estimates of $1.41 per share.
Worldwide da Vinci procedures increased approximately 16% year-over-year. The company said it&nbsp;placed 313 da Vinci surgical systems in the quarter, versus 312 in the prior year&#8217;s quarter. Eight of the systems placed during the quarter were Intuitive&#8217;s new da Vinci 5 systems.
Intuitive Surgical&#8217;s da Vinci surgical system installed base totaled 8,887 systems as of March 31, up 14% on a year-over-year basis. The company ended the quarter with $7.32 billion in cash, equivalents and investments.
&#8220;The core measures of our business remained healthy this quarter, as we reached meaningful milestones across several parts of our business,&#8221; said Gary Guthart, CEO of Intuitive Surgical.
&#8220;We are pleased by feedback from our measured da Vinci 5 launch as well as the continued adoption of SP and Ion, and we remain focused on delivering the goals we share with our customers, including improving patient outcomes.&#8221;
Management will hold a conference call to discuss these results at 4:30 p.m. ET.
Don&#8217;t Miss: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38319509/treasury-yields-head-to-danger-zone-analyst-forecasts-potential-spike-to-5-disorder">Treasury Yields Head To &#8216;Danger Zone&#8217;: Analyst Forecasts Potential Spike To 5%, Disorderly Sell-Off For Markets</a>
ISRG Price Action: <a href="https://www.benzinga.com/quote/ISRG" target="_blank" rel="noreferrer noopener">Intuitive Surgical shares</a> were volatile during after-hours trading on Thursday following the release. The stock was up 1.03% at $372.85 at the time of publication, according to <a href="https://benzinga.grsm.io/gxjhpowx7zks" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Photo: Courtesy of Intuitive Surgical.

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Intuitive Surgical Q1 Earnings: Revenue Beat, EPS Beat, Surgical System Installed Base Up 14% And More

Western Alliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>) reported quarterly earnings of $1.72 per share which beat the analyst consensus estimate of $1.66 by 3.61 percent. This is a 25.22 percent decrease over earnings of $2.30 per share from the same period last year. The company reported quarterly sales of $728.80 million which beat the analyst consensus estimate of $697.04 million by 4.56 percent. This is a 32.05 percent increase over sales of $551.90 million the same period last year.

UPDATE: Western Alliance Q1 Adj EPS $1.72 Beats $1.66 Estimate, Sales $728.80M Beat $697.04M Estimate

Glacier Bancorp, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBCI#NYSE">GBCI</a>) today announced that its banking subsidiary, Glacier Bank, has received all regulatory approvals required to complete its previously announced acquisition of six Montana branch locations of HTLF Bank (the "Branches"), the bank subsidiary of Heartland Financial USA, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTLF#NASDAQ">HTLF</a>). The transaction is expected to be completed in July 2024, subject to customary closing conditions. &nbsp;
The six branches Glacier Bank will acquire are:
<ul>
<li>2615 King Ave. W, Billings, MT</li>
<li>2929 3rd Ave. N, Billings, MT</li>
<li>2901 W Main St., Bozeman, MT</li>
<li>115 E First Ave, Plentywood, MT</li>
<li>220 Main St., Stevensville, MT</li>
<li>101 E Legion St., Whitehall, MT</li>
</ul>
As of March 31, 2024, the Branches had approximately $463 million in local deposits and $296 million in loans. The transaction is projected to be approximately $0.03 per share, or 1.6%, accretive to Glacier's 2024 estimated earnings per share, given the expected partial year impact and excluding one-time transaction-related expenses, and approximately $0.07 per share, or 3.1%, accretive to Glacier's 2025 estimated earnings per share.
"We are pleased to have quickly received the required regulatory approvals for this transaction and excited to be further expanding our Montana franchise with the strategic addition of these six branch locations across the state," stated Randy Chesler, President and CEO of GBCI and Glacier Bank. Chesler added, "This provides us the unique opportunity to further strengthen our leading presence in the state. In addition, the transaction provides immediate liquidity and will be meaningfully accretive to GBCI's earnings per share."&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
Upon closing of the transaction, Glacier Bank intends that the Branches will join Glacier Bank divisions operating in Montana, including First Bank of Montana, First Security Bank of Bozeman, First Security Bank of Missoula, Valley Bank of Helena, and Western Security Bank.

HTLF

Glacier Bancorp, Inc. Receives Regulatory Approval For Acquisition Of Six Montana Branches From HTLF Bank; Transaction Is Projected To Be ~$0.03 Per Share, Or 1.6%, Accretive To Glacier's 2024 Estimated EPS, Given The Expected Partial Year Impact And Excluding One-Time Transaction-Related Expenses, And ~$0.07 Per Share, Or 3.1%, Accretive To Glacier's 2025 Estimated EPS

FTFT

Future Fintech Group Says On April 11, Jury Returned Verdict In Favor Of FT Global In Matter Of Lawsuit Filed Against Co In Jan 2021

Management

Canopy GrowthSays Garth Hankinson, Judy Schmeling and James Sabia Resign From Board

BayCom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BCML#NASDAQ">BCML</a>) reported quarterly earnings of $0.51 per share which missed the analyst consensus estimate of $0.55 by 7.27 percent.

BCML

BayCom Q1 2024 GAAP EPS $0.51 Misses $0.55 Estimate

Young voters prefer President Joe Biden over ex-President Donald Trump, <a href="https://www.benzinga.com/topic/2024-election">according to a new poll</a>.
What Happened: Of the 2,010 participants <a href="https://iop.harvard.edu/youth-poll/47th-edition-spring-2024?utm_source=substack&amp;utm_medium=email">surveyed</a> by the Institute of Politics at Harvard Kennedy School, 45% of 18 to 29-year-olds prefer Biden, while 37% picked Trump. 
Sixteen percent of respondents were undecided.
Of those polled, 53% said they were definitely voting in the 2024 election. That&#8217;s on par with the same time period of the 2020 election poll.
See Also: <a href="https://www.benzinga.com/news/24/04/38286407/gop-mega-donors-son-throws-support-behind-incumbent-president-in-biden-vs-trump-battle">GOP Mega Donor&#8217;s Son Throws Support Behind Incumbent President In Biden Vs. Trump Battle</a>
Biden's lead over Trump was significant in several categories, including:
<ul>
<li>Ages 18-29 (+14 points higher)</li>
<li>Women (+33 points)</li>
<li>College students (+23 points)</li>
<li>College graduates (+47 points).</li>
</ul>
Trump trails Biden by six points among male voters, which was better than the overall poll. 
The poll also found that among respondents who would vote Trump, 76% said they enthusiastically support the candidate, compared to 44% strong support for people backing Biden.
Given the option of third-party and Independent candidates, voters chose:
<ul>
<li>Biden: 28%</li>
<li>Trump: 25%</li>
<li>Robert F. Kennedy Jr.: 11%</li>
<li>Jill Stein: 4%</li>
<li>Cornel West: 3%</li>
<li>Don't Know: 28%</li>
</ul>
Related Link: <a href="https://www.benzinga.com/general/politics/24/04/38192727/trump-vs-biden-former-president-retakes-lead-in-2024-election-poll-which-candidate-do-independen">Trump Vs. Biden &#8211; Former President Retakes Lead In 2024 Election Poll, Which Candidate Do Independent Voters Support?</a>
Why It's Important: The poll, conducted from March 14 to March 21, came before the start of Trump's <a href="https://www.benzinga.com/general/politics/24/04/38251447/trump-hush-money-trial-preview-key-witnesses-2024-campaign-impact-prison-time-trump-could-face-i">hush money criminal trial.</a>
The survey asked young voters how a guilty verdict for Trump in any of his upcoming trials could impact their vote. 
Biden's lead grew from eight points to 18 points among all voters if Trump is found guilty. 
Among young people likely to vote, Biden's lead grew from 19 points to 28 points if Trump is found guilty.
Key issues for young voters are the economy, immigration and foreign policy. The survey found that only 9% of potential young voters believe the country is headed in the right direction. This compares to 21% who answered this in the spring 2020 election survey.
On the flip side, 58% of respondents said the country is off on the wrong track moving forward, which could be a worry for Biden's campaign.
"Young people today have clear concerns about where our country is headed," said IOP Director Setti Warren. "From worries about the economy, foreign policy, immigration, and climate, young people across the country are paying attention and are increasingly prepared to make their voices heard at the ballot box this November."
A recent <a href="https://www.benzinga.com/general/politics/24/04/38174860/trump-vs-biden-youngest-voters-split-on-who-they-would-pick-in-2024-election-why-this-could-deci">poll from Morning Consult</a> of registered voters aged 18 to 34 found a much closer race with Biden and Trump each getting 41% of the vote and the remaining picking "Someone Else" or "Don't Know."
According to&nbsp;<a href="https://www.statista.com/statistics/984745/youth-voter-turnout-presidential-elections-us/" target="_blank" rel="noreferrer noopener">Statista</a>, 55% of voters aged 18-29 voted in the 2020 election, which marked a significant increase from the 44% who turned out for the 2016 election. The peak voter turnout for the youth was 55.4% in 1972.
Biden <a href="https://www.benzinga.com/news/20/11/18261020/joe-biden-wins-2020-presidential-election-as-donald-trump-pushes-lawsuits-recounts">won the 2020 election</a>, while Trump won the 2016 election.
Younger voters have often voted Democratic, with<a href="https://www.benzinga.com/news/24/04/38134467/trump-vs-biden-in-surprising-trend-one-candidate-is-gaining-favor-among-younger-voters-over-other" target="_blank" rel="noreferrer noopener">&nbsp;a Politico report</a>&nbsp;saying the last Republican to win the youth vote was&nbsp;George H. W. Bush&nbsp;in 1988. Since that time, there have been eight presidential elections. Democrats won five of the eight last elections.
In an election expected to be close, the youth vote could be more important than ever in deciding the winner.
Read Next: <a href="https://www.benzinga.com/general/politics/24/04/38279176/trump-hush-money-trial-draws-reaction-from-congressman-talk-show-hosts-worse-than-anything-richa">Trump Hush Money Trial Draws Reaction From Congressman, Talk Show Hosts: &#8216;Worse Than Anything Richard Nixon Ever Did&#8217;</a>
Image: Shutterstock

Biden Vs. Trump: One Candidate Dominates Youth Vote In New Poll, How Guilty Verdict Could Impact 2024 Election Results

PPG Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPG#NYSE">PPG</a>) reported mixed first-quarter financial results after the bell Thursday. Here's a <a href="https://www.benzinga.com/pressreleases/24/04/b38324109/western-alliance-bancorporation-reports-first-quarter-2024-financial-results">look at the details.&nbsp;</a>
The Details: PPG reported quarterly adjusted earnings of $1.86 per share, inline with the analyst estimate. 
Quarterly sales came in at $4.31 billion which missed the analyst consensus estimate of $4.43 billion by 2.69% and represents a 1.58% decrease over sales of $4.38 billion from the same period last year.
PPG announced its board of directors authorized the repurchase of $2.5 billion of outstanding common stock, effective immediately and do not expire. The company also declared a quarterly dividend of 65 cents per share, payable June 12 to shareholders of record as of May 10. 
&#8220;We achieved year-over-year adjusted EPS growth for the fifth consecutive quarter despite continued challenges in the macro environment,&#8221; said Tim Knavish, PPG CEO. &#8220;The company benefited from our well-established businesses in Mexico and China, our second and third largest net sales countries, respectively. We also delivered organic sales growth in India and in several long-cycle businesses such as protective and marine coatings and aerospace coatings, where our backlog grew,&#8221; 
Outlook: PPG sees second-quarter organic sales growth up by low single digits and expects quarterly adjusted earnings of between $2.42 and $2.52 per share, versus the $2.55 per share estimate. 
The company expects full-year 2024 organic sales growth in the low single digits and continues to see full-year adjusted earnings between $8.34 and $8.59 per share, versus the $8.48 per share estimate. 
Related News: <a href="https://www.benzinga.com/news/24/04/38299189/whats-going-on-with-arm-holdings-stock">What&#8217;s Going On With Arm Holdings Stock?</a>
PPG Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, PPG Industries shares are down 0.45% after-hours at $134.50 at the time of publication Thursday.
Photo: Csaba Nagy from Pixabay

PPG Industries Reports Mixed Q1 Results

<a href="https://www.sec.gov/Archives/edgar/data/1583648/000143774924012442/ex_655549.htm" title="https://www.sec.gov/Archives/edgar/data/1583648/000143774924012442/ex_655549.htm">https://www.sec.gov/Archives/edgar/data/1583648/000143774924012442/ex_655549.htm</a>

Stock Split

PIRS

Pieris Pharmaceuticals Announces 1-For-80 Reverse Stock Split

Hilltop Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HTH#NYSE">HTH</a>) reported quarterly earnings of $0.42 per share which beat the analyst consensus estimate of $0.25 by 68 percent. This is a 5 percent increase over earnings of $0.40 per share from the same period last year.

Hilltop Hldgs Q1 EPS $0.42 Beats $0.25 Estimate

Inhibikase Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IKT#NASDAQ">IKT</a>) (Inhibikase or Company), a clinical-stage pharmaceutical company developing protein kinase inhibitor therapeutics to modify the course of Parkinson's disease ("PD"), Parkinson's-related disorders and other diseases of the Abelson Tyrosine Kinases, today issued a Letter to Shareholders.
Dear Fellow Shareholders of Inhibikase Therapeutics:
2024 has been off to a productive start for Inhibikase. Our 201 Trial is approximately 75% enrolled, with the last patient anticipated to enter the trial in June. We have had consistent and constructive interactions with the U.S. Food and Drug Administration for IkT-001Pro, culminating in the recent completion of a pre-IND meeting as we evaluate 001Pro's potential in cardiopulmonary disease and a pre-NDA meeting with relation to the cancer indications for which imatinib is approved. As we look forward, we recognize the urgency to initiate the 12-month extension study for our 201 trial, and we are planning our end of Phase 2 meeting with the FDA in Parkinson's and developing our Phase 3 protocols. In addition, we continue to evaluate potential pathways to initiate a Phase 2/3 trial in Multiple System Atrophy and continue to explore multiple indications for which IkT-001Pro could be a novel new agent.
In neurodegeneration, the combined efforts of our internal team, site investigators and staff as well as our digital media campaign through the201trial.com has enabled us to efficiently enroll participants across all 32 open sites. We have only 30 patients left to enroll as of April 18, 2024, and we expect to complete enrollment in approximately mid-June. Looking ahead, the initiation of the extension to the 201 Trial of up to 12 months is an essential activity to evaluate long-term effects of risvodetinib on safety, tolerability, biomarkers and whether improvements in motor and non-motor function will be realized, which will require additional financial resources. Emerging biomarker data from the 201 Trial evaluating pathological alpha-synuclein in multiple tissues and fluids supported our recent grant submissions to the National Institute of Neurological Disease and Stroke (NINDS), an Institute of the National Institutes of Health (NIH). One of these grants, if approved, will introduce our newly developed monoclonal antibody to track phospho-Tyr39-alpha-synuclein in the clinical trial setting, which we believe will enhance the meaning of biomarker measurements. We believe the utilization of this antibody in tissue biopsy and fluid analysis will enable us to confirm target engagement and evaluate the effect of risvodetinib on the underlying pathology responsible for disease. Upon completion of the double-blinded phase of the 201 Trial, we expect to request an end of Phase 2 meeting with the FDA by the end of 2024, which further accelerates our goal to begin enrolling the extension study as soon as possible.
As we continue to explore the breadth of potential indications for IkT-001Pro, we believe that there is an opportunity worth exploring for Pulmonary Arterial Hypertension (PAH). Imatinib was shown to be a disease-modifying treatment for PAH more than 10 years ago, however, unfavorable safety and tolerability precluded its approval at that time. Changes to standard-of-care for these patients coupled with the exclusion of anti-coagulant use and the potentially more favorable tolerability profile of 001Pro over imatinib mesylate suggests to us that 001Pro could offer an alternative path to success in this area. Our recent pre-IND meeting with the FDA was constructive and we expect to provide an update from this meeting following receipt of the formal meeting minutes. If considered a new molecular entity for PAH, IkT-001Pro might enjoy a long period of patent exclusivity.
Altogether, 2024 is shaping up to be a year of execution across our portfolio. We believe our work to date supports the continued development of both risvodetinib and 001Pro, and we appreciate the support of our shareholders as we continue on this journey to bring transformative treatments for patients across our therapeutic pipeline.
Sincerely,
Milton H. Werner, PhD. President &amp; CEO

Guidance

Inhibikase Therapeutics Issues Letter To Shareholders And Provides Update On Development Programs; Says 201 Trial Is ~75% Enrolled

Canopy Growth Announces That In Connection With The Creation Of Exchangeable Shares, Greenstar And CBG Exchanged All 17,149,925 Common Shares For 17,149,925 Exchangeable Shares For No consideration; As A Result, The CBG Group No Longer Holds Any Common Shares

Insider Trades

Nordstrom 13D Filing Shows Erik B. Nordstrom Reported A 7.45% Stake In The Co As Of April 17, 2024; Intend To Engage In Discussions With Nordstrom's Special Committee, Third Parties Regarding The Potential Going Private Transaction

These Basic Materials stocks are trading higher:-Hycroft Mining Holding Corporation (HYMC) stock is trading at $3.35, an increase of $0.6, or 21.46%, on high volume.  Hycroft Mining Holding Corp gets a Sentiment Score of Very Bullish from InvestorsObserver.  -TMC the metals company Inc (TMC) stock is trading at $1.60, an i

Basic Materials Stocks Making Moves Tuesday: HYMC, TMC, GAU, KNTNF, ASPI, CMP, GLT, LWLG

Hycroft Mining Holding (HYMC) just unveiled an announcement. Starting April 5, 2024, Hycroft Mining Holding Corporation's management will release a...

Hycroft Mining Holding Unveils Investor Presentation Update

NKTR, VERU and EGIO among mid-day movers

Hycroft Mining Holding (HYMC) has issued an announcement. Hycroft Mining Holding Corporation has renewed its commitment to key executives Diane R. ...

Hycroft Mining Secures Leadership with New Executive Agreements

HYMC, NB and RETO are among materials movers

ALPN

APVO

ASPI

BATL

BSGM

CADL

CURI

EGIO

ELYM

ENLV

HGAS

LIFW

LWLG

MNDR

NITO

NKTR

RCEL

RETO

VERU

VVPR

Press Releases

Hycroft Confirms Positive Metallurgical Test Results

Hycroft Mining Provides Update Regarding Nasdaq Listing

Hycroft Mining Provides Update on Nasdaq Listing

Mining Penny Stock Watchlist (IMRFF, NGD, HYMC, KGC)

Hycroft Drills Best Hole Ever - Discovers New High-Grade Silver System

Hycroft Regains Compliance with Nasdaq Listing Requirements

Hycroft Delivers More High-Grade - Expands New Silver System at Brimstone

Hycroft Announces Start of 2024 Drill Program Targeting High-Grade Silver Discoveries