Intl Media Acquisition Stock (OTC: IMAQU)

Latest news for Intl Media Acquisition (OTC:IMAQU) Stock

International Media Acquisition Corp is a blank check company.

International Media Acquisition Corp Units (1 Ord , 1 Rts & 1 War)

International Media Acquisition Corp

WIIM

VVOS

Vivos Therapeutics shares are trading lower after the company announced a $4.3 million registered offering of 1.36 million shares of common stock at $3.15 per share.

RBC Capital analyst Brian Abrahams reiterates Biogen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) with a Outperform and maintains $292 price target.

News

Price Target

Reiteration

Analyst Ratings

BIIB

RBC Capital Reiterates Outperform on Biogen, Maintains $292 Price Target

Barclays analyst Manav Patnaik downgrades WillScot Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WSC#NASDAQ">WSC</a>) from Overweight to Equal-Weight and lowers the price target from $50 to $44.

Downgrades

Barclays Downgrades WillScot Holdings to Equal-Weight, Lowers Price Target to $44

The Dow Jones index closed lower by over 100 points on Wednesday. When insiders purchase or sell shares, it indicates their confidence or concern around the company&#8217;s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.
Below is a look at a few recent notable insider transactions for penny stocks. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">WidePoint</h3>
<ul>
<li>The Trade: WidePoint Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WYY#NYSE">WYY</a>) CEO Jin Kang <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 1,000 shares</a> at an average price of $3.50. To acquire these shares, it cost around $3,499.</li>
<li>What's Happening: On Aug. 14, WidePoint posted a second-quarter GAAP loss of 5 cents per share.</li>
<li>What WidePoint Does: WidePoint Corp is a provider of Technology Management as a Service (TMaaS) that consists of federally certified communications management, identity management, interactive bill presentment and analytics, and Information Technology as a Service solution.</li>
</ul>
<h3 class="wp-block-heading">ProMIS Neurosciences</h3>
<ul>
<li>The Trade: ProMIS Neurosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PMN#NASDAQ">PMN</a>) 10% owner Michael S Gordon <a href="https://www.benzinga.com/sec/insider-trades/">acquired a total of 93,223 shares</a> at an average price of $1.25. To acquire these shares, it cost around $116,880.</li>
<li>What's Happening: On Aug. 29, ProMIS Neurosciences filed for resale from time to time of 56.5 million common shares of the company by selling stockholders.</li>
<li>What ProMIS Neurosciences Does: ProMIS Neurosciences Inc is a clinical-stage biotechnology company focused on generating and developing antibody therapeutics selectively targeting toxic misfolded proteins in neurodegenerative diseases such as Alzheimer&#8217;s disease (AD), amyotrophic lateral sclerosis (ALS) and multiple system atrophy (MSA).</li>
</ul>
<h3 class="wp-block-heading">Emmaus Life Sciences</h3>
<ul>
<li>The Trade: Emmaus Life Sciences, Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/EMMA#OTC">EMMA</a>) Director Seah H. Lim <a href="https://www.benzinga.com/sec/insider-trades/">acquired a total of 20,000 shares</a> at an average price of $0.04. The insider spent around $800 to buy those shares.</li>
<li>What's Happening: On Sept. 10, the company said net revenues for the six months ended June 30 were $7.9 million, down from $17.5 million in the year-ago period.</li>
<li>What Emmaus Life Sciences Does: Emmaus Life Sciences Inc is a biopharmaceutical company engaged in the discovery, development, and commercialization of new treatments and therapies predominantly for rare and orphan diseases. </li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/09/40925678/fedex-gears-up-for-q1-print-here-are-the-recent-forecast-changes-from-wall-streets-most-accurate-an">FedEx Gears Up For Q1 Print; Here Are The Recent Forecast Changes From Wall Street&#8217;s Most Accurate Analysts</a></li>
</ul>

Penny Stocks

Markets

EMMA

ProMIS Neurosciences And 2 Other Stocks Under $5 Executives Are Buying

<ul>
<li>NVDA</li>
<li>WAY</li>
<li>LOT</li>
<li>QQQ</li>
<li>LUNR</li>
<li>MADE</li>
<li>GAP</li>
<li>DJT</li>
<li>META</li>
<li>AAPL</li>
</ul>
Data from <a href="https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment">https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment</a>
&nbsp;

Trading Ideas

AAPL

LUNR

MADE

NVDA

Top 10 Trending Stocks On WallStreetBets As Of September 19, 2024 (Via Swaggy Stocks)

Barclays analyst Dan Levy initiates coverage on Hertz Global Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>) with a Underweight rating and announces Price Target of $3.

Initiation

Barclays Initiates Coverage On Hertz Global Holdings with Underweight Rating, Announces Price Target of $3

GLMD

Galmed Pharmaceuticals shares are trading higher after the company announced plans to broaden its drug development activities with two additional programs over the next two years.

RBC Capital analyst Luca Issi reiterates Editas Medicine (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EDIT#NASDAQ">EDIT</a>) with a Sector Perform and maintains $8 price target.

EDIT

RBC Capital Reiterates Sector Perform on Editas Medicine, Maintains $8 Price Target

Barclays analyst Dan Levy initiates coverage on Avis Budget Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAR#NASDAQ">CAR</a>) with a Equal-Weight rating and announces Price Target of $105.

Barclays Initiates Coverage On Avis Budget Gr with Equal-Weight Rating, Announces Price Target of $105

On Wednesday, the Federal Trade Commission (FTC) said Ryan Cohen, managing partner of RC Ventures and Chairman and CEO of GameStop Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>), will pay a $985,320 civil penalty.
This <a target="_blank" href="https://www.ftc.gov/news-events/news/press-releases/2024/09/gamestop-ceo-ryan-cohen-pay-nearly-1-million-penalty-settle-antitrust-law-violation" rel="noreferrer noopener">fine</a> stems from charges that Cohen violated the Hart-Scott-Rodino (HSR) Act by failing to file the necessary paperwork during his acquisition of shares in Wells Fargo &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>).
Cohen&#8217;s actions resulted in an acquisition that exceeded HSR filing thresholds, triggering the need for federal antitrust agencies to review the deal.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40816734/gamestop-analyst-says-retailer-could-close-all-stores-operate-as-bank-to-manage-los" rel="noreferrer noopener">GameStop Analyst Says Retailer Could Close All Stores, Operate As Bank To Manage Losses</a>.
According to the FTC&#8217;s complaint, Cohen&#8217;s purchase of more than 562,000 Wells Fargo voting securities required him to file an HSR form and wait for regulatory clearance before completing the transaction.
The HSR Act mandates that companies and individuals report large transactions to the FTC and the Department of Justice (DOJ) to allow for federal review.
As per the complaint, Cohen <a target="_blank" href="https://www.ftc.gov/system/files/ftc_gov/pdf/Cohen-Complaint-filed.pdf" rel="noreferrer noopener">acquired</a> 562,077 voting securities in Wells Fargo in March 2018, which resulted in his aggregated holdings of Wells Fargo securities exceeding the $100 million threshold, which in March 2018 was $168.8 million.
Cohen&#8217;s acquisition was not exempt under the Investment-Only Exemption of the HSR Act.
His emails and interactions with Wells Fargo&#8217;s leadership, where he advocated for a board seat and suggested business improvements, indicated an intent to influence the company&#8217;s operations. This intent disqualified his holdings from being considered passive investments.
In January 2021, Cohen made a corrective filing under the HSR Act for the March 2018 voting securities acquisition.
Under the law, finalizing a deal during the 30-day investigation period without approval is prohibited. At the time of Cohen&#8217;s violation, the maximum civil penalty for such infractions was $43,792 per day.
The FTC&#8217;s decision to settle the case and forward it to the DOJ for filing was unanimous, with a 5-0 vote.
Last week, GameStop reported second-quarter net sales of $798.0 million, down from $1.16 billion a year ago and missing the consensus of $895.7 million.
The video game retailer reported a profit of 1 cent per share, beating a Street consensus estimate of a loss <a target="_blank" href="https://www.benzinga.com/news/earnings/24/09/40803991/gamestop-q2-earnings-highlights-revenue-miss-eps-beat-cash-update-and-more" rel="noreferrer noopener">of 9 cents per share</a>.
Price Action: GME stock is up 1.50% at $19.94 during the premarket session at last check Thursday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/large-cap/24/09/40927367/zimmer-biomet-to-stop-selling-cpt-hip-implant-system-by-end-of-2024-due-to-high-fracture-risks" target="_blank" rel="noreferrer noopener">Zimmer Biomet To Stop Selling CPT Hip Implant System By End Of 2024 Due To High Fracture Risks</a>.</li>
</ul>
Photo: Courtesy of Bill Jerome on Flickr

Large Cap

Legal

Management

General

GameStop CEO Ryan Cohen Penalized Nearly $1M Over Wells Fargo Share Acquisition

Wall Street analysts are increasing their expectations for further interest rate cuts following the Federal Open Market Committee&#8217;s decision to slash rates by a substantial <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead">50 basis points on Wednesday. </a>
Even Fed Chair <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40927293/powell-defends-0-5-interest-rate-drop-as-right-thing-for-the-economy-doubles-down">Jerome Powell&#8216;s cautious remarks</a>, which initially rattled the markets, have not dampened the belief that the central bank is heading toward a more aggressive easing stance.
&#8220;The Fed attempted to sell its 50bp rate cut today as a &#8216;recalibration&#8217; of policy rates, rather than a sign of concern about the health of the labor market,&#8221; said Bank of America U.S. economist Aditya Bhave.
Bhave expects another 75 basis points of cuts in the fourth quarter and 125 basis points by 2025, bringing the neutral rate to a range of 2.75%-3%.
The S&amp;P 500 index, tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), initially reached record highs after the rate cut decision but pulled back during Powell&#8217;s press conference.
The index is expected to open to all-time highs on Thursday amid a strong rally <a href="https://www.benzinga.com/premarket">during premarket trading. </a>
Positive labor market data released Thursday indicated that weekly jobless claims declined by 17,000 to 214,000 for the week ending Sept. 14, well below expectations of 230,000. Continuing jobless claims also fell more than expected to 1.83 million, down from 1.843 million and below the predicted 1.85 million.
<h3 class="wp-block-heading">US Stock Market To Hit New Record Highs After Election?</h3>
A bold market call came from veteran Wall Street investor Ed Yardeni, who now predicts the easing stance from the Federal Reserve will propel the stock market to climb to new all-time highs after the November presidential election.
&#8220;Fed Chair Jerome Powell reiterated that the Fed&#8217;s main focus now is to keep a lid on the unemployment rate,&#8221; said Yardeni.
&#8220;Now that the Fed is stimulating the economy, the hard-landing crowd should disperse,&#8221; he added. 
<h3 class="wp-block-heading">Goldman Sachs Expects Rate Cuts At Each Meeting</h3>
&#8220;The greater urgency suggested by today's 50bp cut and the acceleration in the pace of cuts that most participants projected for 2025 makes a longer series of consecutive cuts the most likely path,&#8221; said Goldman Sachs economist Jan Hatzius. 
Hatzius highlighted the significance of upcoming employment reports, indicating that the choice between a 25- and 50-basis-point cut in November could hinge on these data points.
The bond market is pricing in a 34-basis-point reduction for the next meeting, according to CME&#8216;s FedWatch tool. 
Goldman Sachs now projects a series of 25-basis-point cuts extending from November 2024 through June 2025, targeting a terminal rate of 3.25%-3.5%.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/09/40934972/wall-street-primed-for-relief-rally-as-traders-eye-jobless-claims-fedex-earnings-after-feds-50-basi">Wall Street Primed For Relief Rally As Traders Eye Jobless Claims, FedEx Earnings After Fed&#8217;s 50 Basis-Point Cut: Strategist Says These Stocks Will Gain Edge In First 6 Months Of Rate Cut</a></li>
</ul>
Photo via Shutterstock.

Analyst Color

Macro Economic Events

Broad U.S. Equity ETFs

Econ #s

Economics

Federal Reserve

ETFs

Wall Street Ramps Up Interest Rate Cut Bets After Fed Meeting: 'The Hard-Landing Crowd Should Disperse,' Economist Says

RBC Capital analyst Ken Herbert maintains FTAI Aviation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTAI#NASDAQ">FTAI</a>) with a Outperform and raises the price target from $120 to $143.

FTAI

RBC Capital Maintains Outperform on FTAI Aviation, Raises Price Target to $143

JP Morgan analyst John Royall downgrades Casey's General Stores (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CASY#NASDAQ">CASY</a>) from Neutral to Underweight and raises the price target from $300 to $337.

CASY

JP Morgan Downgrades Casey's General Stores to Underweight, Raises Price Target to $337

Signing Day Sports shares are trading higher after the company announced it will acquire sports gaming technology company Swifty Global.

JP Morgan analyst John Royall downgrades Murphy USA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUSA#NYSE">MUSA</a>) from Neutral to Underweight and raises the price target from $415 to $435.

MUSA

JP Morgan Downgrades Murphy USA to Underweight, Raises Price Target to $435

Leerink Partners analyst Michael Cherny maintains Progyny (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGNY#NASDAQ">PGNY</a>) with a Market Perform and lowers the price target from $25 to $21.

PGNY

Leerink Partners Maintains Market Perform on Progyny, Lowers Price Target to $21

<a href="https://www.astrazeneca-us.com/media/press-releases/2024/astrazeneca-announces-start-of-recruitment-in-2-new-phase-iii-trials-evaluating-saphnelo-in-cle-and-in-iim.html" title="https://www.astrazeneca-us.com/media/press-releases/2024/astrazeneca-announces-start-of-recruitment-in-2-new-phase-iii-trials-evaluating-saphnelo-in-cle-and-in-iim.html">https://www.astrazeneca-us.com/media/press-releases/2024/astrazeneca-announces-start-of-recruitment-in-2-new-phase-iii-trials-evaluating-saphnelo-in-cle-and-in-iim.html</a>

Biotech

AstraZeneca Initiates Recruitment For Two New Phase III Trials Investigating SAPHNELO In Cutaneous Lupus Erythematosus (LAVENDER) And Idiopathic Inflammatory Myopathies (JASMINE)

The New Rack-Scale Ready FlexTwin&#x2122; Systems Deliver Unprecedented Compute-Density in a Multi-Node Form Factor, with DLC dual CPUs up to 500W Each per Node, Front Node Access and Optimized Networking&nbsp;
SAN JOSE, Calif., Sept. 19, 2024 /PRNewswire/ -- Supermicro, Inc. (NASDAQ:<a href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) a Total IT Solution Provider for AI/ML, HPC, Cloud, Storage, and 5G/Edge is announcing the all-new FlexTwin family of systems which has been designed to address the needs of scientists, researchers, governments, and enterprises undertaking the world's most complex and demanding computing tasks. Featuring flexible support for the latest CPU, memory, storage, power and cooling technologies, FlexTwin is purpose-built to support demanding HPC workloads including financial services, scientific research, and complex modeling. These systems are cost-optimized for performance per dollar and can be customized to suit specific HPC applications and customer requirements thanks to Supermicro's modular Building Block Solutions&#xAE; design.

SMCI

Supermicro Announces The All-New FlexTwin Family Of Systems Which Has Been Designed To Address The Needs Of Scientists, Researchers, Governments, And Enterprises Undertaking The World's Most Complex And Demanding Computing Tasks

JP Morgan analyst Jessica Fye downgrades Halozyme Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HALO#NASDAQ">HALO</a>) from Overweight to Neutral and raises the price target from $52 to $57.

HALO

JP Morgan Downgrades Halozyme Therapeutics to Neutral, Raises Price Target to $57

RBC Capital analyst Gregory Renza reiterates Agios Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGIO#NASDAQ">AGIO</a>) with a Outperform and maintains $55 price target.

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Intl Media Acquisition

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