iShares Core 5-10 Year USD Bond ETF (ARCA: IMTB)

iShares Core 5-10 Year USD Bond ETF (ARCA:IMTB), Quote.Headers.trade-ideas

iShares Core 5-10 Year USD Bond ETF

The fund generally will invest at least 90% of its assets in the component securities of the underlying index and may invest up to 10% of its assets in certain futures, options and swap contracts, cash and cash equivalents, including shares of money market funds advised by BFA or its affiliates. The index measures the performance of U.S. dollar-denominated taxable bonds that are rated either investment-grade or high yield with remaining effective maturities between five and ten years.

Blackrock Cash Funds: Institutional, Sl Agency Shares

Nintendo ADR (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NTDOY#OTC">NTDOY</a>) and The Pokémon Company have officially filed a lawsuit against Tokyo-based indie game developer Pocketpair, accusing the studio of infringing on multiple patents with its game <a href="https://www.benzinga.com/general/gaming/24/09/40859915/palworld-going-free-to-play-developer-weighs-bold-yet-difficult-move">Palworld. </a>
The lawsuit, filed on Sept. 18, seeks &#8220;an injunction to halt the infringement and compensation for damages,&#8221; Nintendo&#8217;s press release <a href="https://www.nintendo.co.jp/corporate/release/en/2024/240919.html">states.</a>
In response to the suit, Pocketpair <a href="https://www.pocketpair.jp/news/news16">said:</a> &#8220;At this moment, we are unaware of the specific patents we are accused of infringing upon, and we have not been notified of such details.&#8221;
See Also: <a href="https://www.benzinga.com/general/gaming/24/06/39491189/pok-mon-palworld-controversy-teaches-this-developer-a-lesson-i-try-to-avoid-creating-new-things">Pokémon, Palworld Controversy Teaches This Developer A Lesson: &#8216;I Try To Avoid Creating New Things&#8217;</a>
The legal move follows months of fan speculation that Palworld, an early-access title often dubbed &#8220;Pokémon with guns,&#8221; had crossed into territory protected by Nintendo's intellectual property. 
<h3 class="wp-block-heading">Nintendo's Lawsuit</h3>
&#8220;Nintendo will continue to take necessary actions against any infringement of its intellectual property rights, including the Nintendo brand itself, to protect the intellectual properties it has worked hard to establish over the years,&#8221; the company said in its official statement.
Pocketpair's Palworld launched in January 2024 and immediately gained attention, both for its fresh take on the survival crafting genre and for the controversy surrounding its uncanny similarities to Pokémon. 
Fans were quick to point out parallels between Pocketpair's creatures, known as "Pals," and popular Pokémon designs. Pocketpair, however, defended its work, insisting that Palworld is more aligned with games like Ark: Survival Evolved and Valheim.
<h3 class="wp-block-heading">Pocketpair&#8217;s Reacts To Lawsuit</h3>
While pledging to cooperate with legal proceedings, Pocketpair expressed concern over the toll this lawsuit could take on indie developers: &#8220;It is truly unfortunate that we will be forced to allocate significant time to matters unrelated to game development due to this lawsuit.&#8221;
Pocketpair added that despite the lawsuit, it remains committed to improving Palworld and continuing its development. The developer apologized to fans for any concerns the legal dispute may cause and assured players that the game would not be affected in the short term.
<h3 class="wp-block-heading">Palworld's Success</h3>
Palworld was a breakout hit upon its early-access release on Steam and Xbox Game Pass. Priced at $30, the game quickly climbed the charts, breaking records for sales and concurrent players. 
It was lauded for its deep survival mechanics and the unusual combination of creature collection and combat. However, the game's similarities to Pokémon—particularly in the design of its creatures—became a talking point for players and critics alike.
Some of the creature designs in Palworld bear an undeniable resemblance to Pokémon. For example, Palworld&#8217;s electric Pal, Sparkit, draws comparisons to the iconic Pikachu, while others, like Pengullet, remind players of the Pokémon Piplup. 
Pocketpair has acknowledged these similarities but has consistently maintained that the designs are original and part of the game's broader survival gameplay.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/gaming/24/07/39624481/nintendo-escalates-anti-piracy-campaign-with-lawsuit-against-modded-hardware">Nintendo Escalates Anti-Piracy Campaign With Lawsuit Against Modded Hardware</a></li>
<li><a href="https://www.benzinga.com/general/gaming/24/03/37468541/nintendo-strikes-down-yuzu-emulator-in-2-4-million-settlement-what-does-this-mean-for-game-preserv">Nintendo Strikes Down Yuzu Emulator In $2.4M Settlement: What Does This Mean For Game Preservation?</a></li>
</ul>
Photo: Shutterstock

Asia

Gaming

News

Legal

General

NTDOY

'Pokémon With Guns': Nintendo Files Lawsuit Against Palworld Developer Over Alleged Patent Violations

BWS Financial analyst Hamed Khorsand maintains Garrett Motion (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTX#NASDAQ">GTX</a>) with a Buy and maintains $12 price target.

Price Target

Analyst Ratings

BWS Financial Maintains Buy on Garrett Motion, Maintains $12 Price Target

Wolfe Research analyst Steve Fleishman initiates coverage on Quanta Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWR#NYSE">PWR</a>) with a Outperform rating.

Initiation

Wolfe Research Initiates Coverage On Quanta Services with Outperform Rating

Descartes Systems (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dsgx#NASDAQ">DSGX</a>) recently expanded its portfolio with the acquisition of Assure Assist, Inc., operating as MyCarrierPortal (&quot;MCP&quot;). MCP is renowned for its carrier onboarding and risk monitoring solutions for the trucking industry, enabling freight brokers and shippers to manage their carrier networks efficiently. The initiative is aimed at bolstering DSGX&#39;s capabilities in fraud prevention and compliance within the trucking industry.
Descartes&#39; acquisition of MCP involves an up-front consideration of $24 million in cash, with the potential for an additional $6 million in performance-based consideration. This earn-out depends on the joined forces achieving specific revenue-growth targets over the next two years, with payouts expected in fiscal 2026 and fiscal 2027.
Over the past years, the trucking industry has witnessed a surge in carrier fraud and cargo theft. Due to this, there has been a heightened demand for robust solutions that help brokers and shippers navigate these logistics challenges. MCP&#39;s platform streamlines the complex task of onboarding carriers, gathering and screening their information to ensure compliance with industry regulations. By scrutinizing truck carriers for legitimacy, insurance coverage and safety records, MCP helps freight brokers mitigate risks in transporting goods.
<h2>Merging DSGX MacroPoint FraudGuard Tool With MCP Solution</h2>
The cutting-edge solution, when paired with MCP&#39;s onboarding and risk-monitoring solution, creates a swift process where carriers are examined, monitored and tracked in real-time. In addition, any fraudulent activities observed during the onboarding or monitoring phases are immediately addressed, allowing brokers and shippers to take quick action and minimize potential risks.
Descartes MacroPoint, a solution that provides real-time visibility and tracking of shipments, has been a powerful tool for brokers and shippers. With the addition of the FraudGuard feature in April 2024, it enables customers to detect and prevent fraudulent carrier activities more effectively. Carriers can seamlessly integrate with the solution via GPS-based electronic logging devices, transportation management systems, or mobile app-based tracking methods.
The transportation industry is currently dealing with two of the most pressing issues - carrier fraud and cargo theft. DSGX&#39;s latest deal not only addresses critical challenges in the logistics industry but also improves overall supply chain performance by empowering freight brokers and shippers seeking robust Know-Your-Carrier capabilities. MCP&#39;s platform complements Descartes&#39; existing investments in logistics technology, enabling customers to manage the entire lifecycle of shipments in a secure, efficient manner.
<h2>DSGX&#39;s Strategic Buyouts Buoying Revenues</h2>
Acquisition and innovation remain at the forefront of Descartes to foster top-line growth. In the last reported quarter, DSGX revenues soared 14% year over year to $163.4 million, beating the Zacks Consensus Estimate by 2.8%. Synergies stemming from the acquisition of BoxTop Technologies during the quarter, along with OCR and Thyme ASD buyouts settled in the fiscal first quarter with GroundCloud and Localz acquisition in 2024, drove the top-line performance.
In June 2024, it acquired England-based BoxTop Technologies Limited for $13 million (or &pound;10.25 million) in an all-cash transaction. The acquisition will integrate BoxTop solutions with its Global Logistics Network platform. The initiative is likely to broaden the network&#39;s reach and capabilities, providing customers with even greater efficiency and visibility across their supply chains.
However, uncertainty prevailing over global macroeconomic conditions, geopolitical instability and volatile supply-chain issues remain headwinds.
Based in Canada, Descartes provides software-as-a-service logistics solutions to businesses, including transportation and logistics, manufacturing, retail and healthcare.
<h2>DSGX&#39;S Zacks Rank &amp; Stock Price Performance</h2>
At present, DSGX has a Zacks Rank #4 (Sell). Its shares have gained 36.8% compared with the sub-industry&#39;s growth of 29.4% in the past year.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/3d/78446.jpg?v=2012701630" />
Image Source: Zacks Investment Research
<h2>Stocks to Consider</h2>
Some better-ranked stocks from the broader technology space are Harmonic Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hlit#NASDAQ">HLIT</a>), Arista Networks, Inc. and Ubiquiti Inc.&nbsp;HLIT and UI sport a Zacks Rank #1 (Strong Buy), whereas ANET carries a Zacks Rank #2 (Buy) each at present.
Harmonic enables media companies and service providers to deliver ultra-high-quality broadcast and OTT video services to consumers globally. HLIT delivered a trailing four-quarter average earnings surprise of 32.5%.
Ubiquiti company offers a comprehensive portfolio of networking products and solutions for service providers and enterprises. The company&#39;s effective management of its strong global network of more than 100 distributors and master resellers improved its visibility for future demand and inventory management techniques.
Arista Networks supplies products to a prestigious set of customers, including Fortune 500 global companies in markets like cloud titans, enterprises, financials and specialty cloud service providers. It delivered a trailing four-quarter average earnings surprise of 15.02%. In the last reported quarter, ANET delivered an earnings surprise of 8.25%.
<a href="https://www.zacks.com/stock/news/2338545/descartes-expands-product-portfolio-with-24m-mycarrierportal-buyout?cid=CS-BENZ-FT-analyst_blog|company_news_tech_sector-2338545">To read this article on Zacks.com click here.</a>

Earnings

Large Cap

Mid Cap

Small Cap

Markets

Tech

Trading Ideas

DSGX

HLIT

Descartes Expands Product Portfolio With $24M MyCarrierPortal Buyout

United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) shares <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40936984/united-states-steel-corporation-provides-third-quarter-2024-guidance" rel="noreferrer noopener">are trading higher on Thursday.</a>
The company&nbsp;provided third-quarter 2024 adjusted net earnings per share guidance of $0.44 to<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener"> $0.48 versus an estimate of $0.39.</a>
In the third quarter of&nbsp;2024, adjusted EBITDA is expected to be approximately $300 million, compared to the prior outlook range of&nbsp;$275 million&nbsp;to $325 million. In the second quarter, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/b40114614/united-states-steel-corporation-reports-second-quarter-2024-results" rel="noreferrer noopener">adjusted EBITDA was $443 million.</a>
&#8220;Adjusted EBITDA guidance of $300 million is in-line with our prior third quarter outlook and reflects resilient domestic flat-rolled steel demand amid a bottoming steel pricing environment,&#8221; said President and Chief Executive Officer David B. Burritt.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/cryptocurrency/24/09/40944143/wall-street-breaks-records-chipmakers-rally-tesla-hits-2-month-high-as-fed-cut-drives-risk" rel="noreferrer noopener">Wall Street Breaks Records, Chipmakers Rally, Tesla Hits 2-Month High As Fed Cut Drives Risk-On Mode: What&#8217;s Driving Markets Thursday?</a>
The CEO noted that challenging pricing dynamics are being somewhat mitigated by the diverse order books in the North American Flat-Rolled segment.
However, he mentioned that Europe is experiencing softening demand, leading to the temporary idling of Blast Furnace #1 after a planned 30-day outage due to weak customer demand.
Additionally, the CEO highlighted ongoing pressure in the Tubular segment from a weak pricing environment.
The CEO also indicated that pricing headwinds are anticipated to be partially alleviated by lower metallics costs. He also mentioned that about $40 million in expected start-up and one-time construction costs are factored into the segment&#8217;s adjusted results, primarily reflecting the new Big River 2 mini mill, which is expected to begin operations in the fourth quarter of 2024.
Burritt concluded, &#8220;We continue to progress through the U.S. regulatory reviews of the pending transaction with Nippon Steel, and are confident in our ability to achieve these approvals. We continue to work towards closing the transaction by the end of the year.&#8221;
Price Action: X shares are trading higher by 2.47% to $37.69 at last check Thursday.
Photo by Dennis Diatel on Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40937291/bank-stocks-hit-inflection-point-after-feds-50-basis-point-cut-analyst-reveal-top-p" target="_blank" rel="noreferrer noopener">Bank Stocks Hit Inflection Point After Fed's 50 Basis Point Cut, Analyst Reveals Top Picks</a></li>
</ul>

Equities

Guidance

Movers

U.S. Steel Powers Through Pricing Pressures, Domestic Demand Holds Strong Despite Global Challenges

Tigress Financial analyst Ivan Feinseth maintains Garmin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) with a Strong Buy and raises the price target from $210 to $215.

GRMN

Tigress Financial Maintains Strong Buy on Garmin, Raises Price Target to $215

Wednesday, Oak Street Health, a subsidiary of CVS Health Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), agreed to settle for $60 million following allegations that it violated the False Claims Act.
The <a target="_blank" href="https://www.justice.gov/opa/pr/oak-street-health-agrees-pay-60m-resolve-alleged-false-claims-act-liability-paying-kickbacks" rel="noreferrer noopener">claims</a> involved paying kickbacks to third-party insurance agents to recruit seniors to its primary care clinics, a practice that led to false Medicare submissions.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/08/40437498/pharmacy-chains-like-cvs-health-walgreens-boots-alliance-confront-shifting-consumer-habits-and-pro" rel="noreferrer noopener">Pharmacy Chains Like CVS Health, Walgreens Boots Alliance Confront Shifting Consumer Habits And Profit Pressures</a>.
The allegations center around Oak Street Health&#8217;s Client Awareness Program, launched in 2020, which aimed to increase membership through third-party insurance agents.
These agents targeted seniors enrolled or eligible for Medicare Advantage (MA) plans, directing them toward Oak Street's services.
In exchange, agents received approximately $200 per referral, incentivizing them to prioritize financial gain over seniors&#8217; best interests.
This behavior violated the Anti-Kickback Statute, which prohibits offering payment to induce patient referrals under federally funded programs like Medicare.
The U.S. Department of Justice (DOJ) claimed that Oak Street Health knowingly submitted false claims to Medicare between September 2020 and December 2022 due to these illegal kickbacks.
"Health care providers that attempt to profit from kickbacks will be held accountable," said Principal Deputy Assistant Attorney General Brian M. Boynton, head of the Justice Department&#8217;s Civil Division. "We are committed to rooting out illegal practices committed by Medicare Advantage providers, insurance agents and brokers that undermine the interests of federal health care programs and the patients they serve."
Additionally, the settlement resolves claims brought under the whistleblower provisions of the False Claims Act by Joseph Stinson. Stinson will receive $9.9 million as part of the settlement.
Last week, Walgreens Boots Alliance&nbsp;Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>)&nbsp;agreed to pay $106.8 million to settle allegations that it submitted false claims to government healthcare programs, violating the False Claims Act&nbsp;<a target="_blank" href="https://www.benzinga.com/news/large-cap/24/09/40881893/walgreens-agrees-to-106-8m-settlement-over-alleged-false-billing-claims" rel="noreferrer noopener">and state regulations</a>.
Price Action: CVS stock is up 0.27% at $58.58 at the last check Thursday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/biotech/24/09/40941051/fda-strikes-off-vanda-pharmaceuticals-tradipitant-for-stomach-paralysis-asks-for-additional-studi" target="_blank" rel="noreferrer noopener">FDA Strikes Off Vanda Pharmaceuticals&#8217; Tradipitant For Stomach Paralysis, Asks For Additional Studies</a>.</li>
</ul>
Photo via Shutterstock

Health Care

CVS Subsidiary Oak Street Health Agrees to $60M Settlement in Medicare Kickback Violations

Cat-themed meme coins are surging off the back of a major cryptocurrency rally, outperforming their <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40937447/dogecoin-rallied-4-5-dogecoin-killer-shiba-inu-8-what-is-going-on">dog-themed meme coin rivals</a>.
What Happened: In the past 24 hours, Popcat (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">POPCAT</a>) and Mew (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">MEW</a>) collected gains of 36% and 33%, respectively. 
For comparison, Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) are up 7% and 10%, respectively. The meme coin sector as a whole is up 10%.
Crypto trader RookieXBT predicts Popcat to become the fifth-largest meme coin. Prominent meme coin trader Unipcs sees incredible strength and is bullish on the entire cat-themed meme coin sector, which he sees as undervalued.
Another crypto trader Wick noted Popcat breaking out to a higher level.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40736466/meme-coins-are-in-an-unregulated-untouchable-position-trader-notes-main-reason-for-massive">Meme Coins Are In An &#8216;Unregulated Untouchable Position,&#8217; Trader Notes Main Reason For &#8216;Massive Trading&#8217;</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24POPCAT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$POPCAT</a> I put a few extra notes on the chart about how I read the tape with Alpha signals. Give me some feedback and let me know if you like this extra detail Nice breakout into stage 2 part 2 &#x1f680; <a href="https://t.co/XZ7b3QMg6o">pic.twitter.com/XZ7b3QMg6o</a>
&mdash; Wick (@ZeroHedge_) <a href="https://twitter.com/ZeroHedge_/status/1836774957776265496?ref_src=twsrc%5Etfw">September 19, 2024</a></blockquote>
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One crypto trader <a href="https://x.com/frggitt/status/1834375305198252286">connects</a> MEW&#8217;s price momentum to that of Solana, suggesting it can see a similar uptrend. He said that the token has been in consolidation for 144 days, with more than $100 billion in trading volume and thinks &#8220;it can do numbers.&#8221;
Another trader sees MEW as a good option for a swing trade.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24MEW&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MEW</a> &#8211; 23% one minute candle. Red box is where the range volume and composite volume is traded. Great area to jump into the swing trade. <a href="https://t.co/p59zAHDoKl">pic.twitter.com/p59zAHDoKl</a>
&mdash; GhostMMXM (@GhostMMXM) <a href="https://twitter.com/GhostMMXM/status/1836783619085332648?ref_src=twsrc%5Etfw">September 19, 2024</a></blockquote>
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Mew has been listed on Korean digital asset exchange Upbit, while Popcat has been <a href="https://x.com/SolanaFloor/status/1836800349799129130">listed</a> by KrakenPro exchange for spot trading.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40516153/bitcoin-beating-good-boys-do-really-more-americans-own-crypto-than-dogs-the-benzinga-fact-">Bitcoin Beating Good Boys: Do Really More Americans Own Crypto Than Dogs? The Benzinga Fact Check</a></li>
</ul>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$DOGE

$MEW

$POPCAT

$SHIB

Cat Coins Popcat, MEW Eat Dogecoin's, Shiba Inu's Lunch With Gains Of Over 30%: What Is Going On?

Guggenheim analyst Curry Baker maintains Sphere Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPHR#NYSE">SPHR</a>) with a Buy and raises the price target from $58 to $63.

SPHR

Guggenheim Maintains Buy on Sphere Entertainment, Raises Price Target to $63

Scotiabank analyst Maher Yaghi maintains T-Mobile US (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) with a Sector Outperform and raises the price target from $197 to $215.5.

TMUS

Scotiabank Maintains Sector Outperform on T-Mobile US, Raises Price Target to $215.5

UniFirst Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNF#NYSE">UNF</a>), a North American leader in the supply and servicing of uniform and workwear programs, facility service products, and first aid and safety supplies, is pleased to announce the appointment of Kelly Rooney as Chief Operating Officer (COO), effective September 30, 2024. &nbsp;
Rooney has extensive knowledge and experience in large-scale B2B route-based operations. Over her twenty-five plus year career, she has held operational and leadership roles of increasing responsibility. Her most recent position was as the Chief Human Resources Officer at Waste Management, a $20 billion public company. Rooney is returning to her roots and will oversee UniFirst's day-to-day operations, focusing on driving growth, enhancing customer service excellence, and executing operational efficiencies. Her innovative leadership style, systematic approach, and strong customer focus have consistently yielded outstanding results throughout her career.

Management

UniFirst Corporation Names Kelly Rooney As Chief Operating Officer, Effective September 30, 2024; Michael Croatti To Transition From Executive Role In November, Will Continue In Consulting Capacity

Macro Economic Events

Global

Economics

iShares MSCI Israel Capped Investable Market Index Fund

ISRA

Pentagon Says No Changes To U.S. Military Posture In Middle East; U.S. Concerned About Escalation In Middle East, Ceasefire Deal Is Important; Austin, In Calls With Israeli Counterpart, Underscores Need For Tensions To "Quell" In Middle East; Any Attack That Could Escalate Tension In Region Will Not Be Helpful; Do Not Believe Ceasefire Deal For Gaza Is Falling Apart

Truist Securities analyst Srikripa Devarakonda maintains Edgewise Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWTX#NASDAQ">EWTX</a>) with a Buy and raises the price target from $25 to $33.

EWTX

Truist Securities Maintains Buy on Edgewise Therapeutics, Raises Price Target to $33

Raymond James analyst Stephen Laws maintains Redwood Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RWT#NYSE">RWT</a>) with a Strong Buy and raises the price target from $8.5 to $9.5.

Raymond James Maintains Strong Buy on Redwood Trust, Raises Price Target to $9.5

Raymond James analyst Stephen Laws maintains MFA Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MFA#NYSE">MFA</a>) with a Outperform and raises the price target from $13 to $14.5.

Raymond James Maintains Outperform on MFA Finl, Raises Price Target to $14.5

WIIM

IESC

PCAR

ROAD

STRL

Shares of broader industrial and machinery stocks are trading higher following the Fed's announcement to cut rates by 50 basis points yesterday, which could support investment and economic growth.

Missouri regulators have scaled back an <a href="https://www.benzinga.com/markets/cannabis/24/08/40323184/missouri-governors-thc-ban-threatens-9-000-retailers-statewide-amid-nationwide-clampdown-on-hemp">initial ban on hemp-derived THC products</a> enacted by Governor Mike Parson (R) on August 1, opting to focus enforcement on those resembling popular candies that could appeal to children. This strategic shift responds to a lawsuit filed by the Missouri Hemp Trade Association (MHTA), which argued the broad ban went against state law.
<h3 class="wp-block-heading">Legal Action Prompts Shift In Hemp THC Product Ban</h3>
The Missouri Department of Health and Senior Services (DHSS) announced Tuesday it would cease the broad embargo on <a href="https://www.benzinga.com/topic/hemp">hemp</a> products containing THC, <a href="https://missouriindependent.com/2024/09/18/hemp-sales-are-back-on-missouri-regulators-pare-down-ban-on-intoxicating-hemp-products/">reported</a> The Missouri Independent. This announcement comes after a letter from Richard Moore, general counsel for the DHSS, which was prompted by legal actions from the hemp industry&#8217;s trade association. Moore&#8217;s letter emphasized the department&#8217;s new focus on targeting &#8220;misbranded&#8221; products that could potentially appeal to minors.
The DHSS inspected 74 establishments this September, finding THC products in 42, as highlighted Lisa Cox, spokeswoman for the department.
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<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.</li>
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The lawsuit aimed at preventing the designation of such hemp products as &#8220;adulterated.&#8221; It highlighted inconsistencies with state laws, which do not consider food products adulterated solely because they contain <a href="http://benzinga.com/topic/hemp">hemp</a> derivatives. This legal interpretation was pivotal in reshaping the enforcement strategy.
However, <a href="http://benzinga.com/topic/missouri-cannabis">Missouri</a> regulators have not embargoed products like hemp flower, hemp milk, protein powders, teas or CBD gummies, <a href="https://www.cannabisbusinesstimes.com/page/staff/">noted</a> to Cannabis Business Times. These items remain unaltered and collected through extraction, distinguishing them from hemp-derived THC products targeted by recent enforcement actions.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/40845389/nj-governor-signs-bill-tightening-rules-on-hemp-industry-stakeholders-protest-big-alcohol-celebr">NJ Governor Signs Bill Tightening Rules On Hemp: Industry Stakeholders Protest, Big Alcohol Celebrates</a>
<h3 class="wp-block-heading">Missouri AG To Evaluate Hemp Misbranding</h3>
Furthermore, the DHSS&#8217; refined strategy involves referring products suspected of misbranding to the Missouri Attorney General&#8217;s office for evaluation under the State's Merchandising Practices Act. This act aims to protect consumers from deceptive marketing practices, ensuring they are fully aware of what they are purchasing. &#8220;The department has no intention at this time to embargo additional psychoactive cannabis products as adulterated,&#8221; stated Moore in his recent communication, according to The Missouri Independent, clarifying the department's adjusted enforcement outlook.
Craig Katz, a spokesperson for the MHTA, expressed support for the state's renewed approach. &#8220;This is the appropriate regulatory and law enforcement focus,&#8221; Katz remarked. He also hinted at forthcoming legislative efforts in 2025 to bolster consumer confidence and ensure rigorous regulation of hemp products.
<h3 class="wp-block-heading">States Face Lawsuits Over Hemp-Derived Products Restrictions</h3>
By narrowing its enforcement to misbranding <a href="https://www.benzinga.com/markets/cannabis/24/08/40323184/missouri-governors-thc-ban-threatens-9-000-retailers-statewide-amid-nationwide-clampdown-on-hemp">rather than a broad ban</a>, Missouri aims to ensure that <a href="https://www.benzinga.com/markets/cannabis/24/07/39915334/a-nasty-high-experts-sound-alarm-over-soup-of-unknown-compounds-in-hemp-derived-thc-products">hemp-derived THC</a> products are safely regulated while supporting the industry's growth and compliance. Similarly, a group of California parents is <a href="https://www.benzinga.com/markets/cannabis/24/09/40906131/this-is-life-or-death-families-of-disabled-children-panic-over-gov-newsoms-hemp-cbd-ban-and-eval">evaluating legal action against Gov. Newsom&#8217;s proposed hemp ban</a>, fearing it could eliminate critical CBD treatments their children rely on for survival.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cannabis/24/09/40833963/expert-calls-for-a-united-hemp-and-cannabis-front-industries-should-collaborate-and-push-for-fed">Expert Calls For A United Hemp And Cannabis Front, &#8216;Industries Should Collaborate&#8217; And Push For Federal Rules</a></li>
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Cannabis Companies Have Missouri's Governor Beat: Hemp-THC Products Sales Resume As Stricter Controls Replace Sweeping Ban

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