Intact Financial Stock (OTC:INFFF), Trade Ideas

Intact Financial Corp is a property and casualty insurance company that provides written premiums in Canada. The company distributes insurance under the Intact Insurance brand through a network of brokers and a wholly-owned subsidiary, BrokerLink, and directly to consumers through Belairdirect. Most of the company's direct premiums are written in the personal automotive space. Intact directly manages its investments through subsidiary Intact Investment Management. The vast majority of these invested assets are fixed-income securities. Its asset mix is designed to generate interest and dividend income.

5.20% Non-Cum Red Pfd Registered Shs -A- Series -5-

INTACT FNCL PREF A 5 by Intact Financial Corp.

Intact Financial Corp

News

Guidance

INTC

Intel Exec Said Foundry Services Signed Aerospace And Defense Industry Customer Who Was Not Named- Conf Call

Federated Hermes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FHI#NYSE">FHI</a>) reported quarterly earnings of $0.89 per share which beat the analyst consensus estimate of $0.84 by 5.95 percent. This is a 14.1 percent increase over earnings of $0.78 per share from the same period last year. The company reported quarterly sales of $396.371 million which missed the analyst consensus estimate of $401.259 million by 1.22 percent. This is a 3.71 percent increase over sales of $382.189 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

Federated Hermes Q1 2024 GAAP EPS $0.89 Beats $0.84 Estimate, Sales $396.371M Miss $401.259M Estimate

The company reaffirmed its revenue, net income, Adjusted EBITDA, net cash provided by operating activities, and Adjusted Free Cash Flow ranges for fiscal year 2024.&nbsp;

CWST

Casella Waste Systems Reaffirms FY24 Outlook, With Revenues Of $1.48B-$1.51B, Est $1.498B

First of Long Island (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLIC#NASDAQ">FLIC</a>) reported quarterly earnings of $0.20 per share which missed the analyst consensus estimate of $0.23 by 13.04 percent. This is a 31.03 percent decrease over earnings of $0.29 per share from the same period last year. The company reported quarterly sales of $20.935 million which missed the analyst consensus estimate of $22.084 million by 5.20 percent. This is a 7.56 percent decrease over sales of $22.647 million the same period last year.

FLIC

First of Long Island Q1 2024 GAAP EPS $0.20 Misses $0.23 Estimate, Sales $20.935M Miss $22.084M Estimate

WIIM

APPF

AppFolio shares are trading higher after the company reported better-than-expected Q1 financial results and raised its FY24 revenue guidance above estimates.

The company reaffirmed full year 2024&nbsp;guidance&nbsp;provided to the market on&nbsp;February 13. Allison expects 2024 Net Sales in the range of&nbsp;$3,050&nbsp;to&nbsp;$3,150&nbsp;million, Net Income in the range of&nbsp;$635&nbsp;to&nbsp;$685 million, Adjusted EBITDA in the range of&nbsp;$1,070&nbsp;to&nbsp;$1,130&nbsp;million, Net Cash Provided by Operating Activities in the range of&nbsp;$700&nbsp;to&nbsp;$760 million, Capital Expenditures in the range of&nbsp;$125&nbsp;to&nbsp;$135 million, and Adjusted Free Cash Flow in the range of&nbsp;$575&nbsp;to&nbsp;$625 million.

ALSN

Allison Transmission Reaffirms 2024 Net Sales Outlook Of $3.05B-$3.15B, Est $3.108B

AppLovin shares are trading higher possibly in sympathy with Snap, which reported better-than-expected Q1 financial results and issued Q2 revenue guidance above estimates

ALEX

Alexander & Baldwin Raises 2024 AFFO Guidance From $0.80-$0.90 To $0.89-$1.00

PTCT

PTC Therapeutics Reaffirms FY24 Financial Guidance; Total Revenues Of $600M-$680M, Est $606.63M

Betterware de Mexico SAPI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BWMX#NASDAQ">BWMX</a>) reported quarterly earnings of $0.47 per share which missed the analyst consensus estimate of $0.57 by 17.54 percent. This is a 67.86 percent increase over earnings of $0.28 per share from the same period last year. The company reported quarterly sales of $212.22 million which beat the analyst consensus estimate of $205.17 million by 3.44 percent. This is a 21.20 percent increase over sales of $175.10 million the same period last year.

BWMX

Betterware de Mexico SAPI Q1 GAAP EPS $0.47 Misses $0.57 Estimate, Sales $212.22M Beat $205.17M Estimate

AMZN

Amazon.com shares are trading higher following strong earnings from large-cap tech companies.

Casella Waste Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CWST#NASDAQ">CWST</a>) reported quarterly losses of $(0.01) per share which beat the analyst consensus estimate of $(0.02) by 50 percent. This is a 110 percent decrease over earnings of $0.10 per share from the same period last year. The company reported quarterly sales of $341.008 million which beat the analyst consensus estimate of $340.987 million by 0.01 percent. This is a 29.86 percent increase over sales of $262.595 million the same period last year.

Casella Waste Sys Q1 2024 Adj EPS $(0.01) Beats $(0.02) Estimate, Sales $341.008M Beat $340.987M Estimate

PTC Therapeutics Says On Target To Achieve Remaining 2024 Clinical And Regulatory Milestones, Including Global Submissions For Sepiapterin

Intel Exec Said Co Sees Q1 As The Bottom And Expects Sequential Revenue Growth Throughout The Year And Into 2025- Conf Call

Healthpeak Properties Raises FY24 Diluted AFFO Guidance From $1.50–$1.56 To $1.53–$1.57

CUBE

CubeSmart Still Expects FY24 FFO Per Share, As Adjusted, Of $2.59-$2.69 (Est $2.65); $0.63-$0.65 For Q2 (Est $0.65)

Codorus Valley Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVLY#NASDAQ">CVLY</a>) reported quarterly earnings of $0.44 per share which missed the analyst consensus estimate of $0.47 by 6.38 percent. This is a 39.73 percent decrease over earnings of $0.73 per share from the same period last year.

CVLY

Codorus Valley Bancorp Q1 EPS $0.44 Misses $0.47 Estimate

OP Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPBK#NASDAQ">OPBK</a>) reported quarterly earnings of $0.34 per share which beat the analyst consensus estimate of $0.28 by 21.43 percent.

OPBK

OP Bancorp Q1 2024 GAAP EPS $0.34 Beats $0.28 Estimate

Fusion Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FUSN#NASDAQ">FUSN</a>), a clinical-stage oncology company focused on developing next-generation radioconjucates (RCs) as precision medicines, today announced that it has filed and is in the process of mailing the management information circular and proxy statement (the "Circular") and related materials for the special meeting (the "Meeting") of Fusion's shareholders (the "Shareholders") to approve the previously announced arrangement with AstraZeneca plc ("AstraZeneca") under the Canada Business Corporations Act (the "Arrangement").
Under the terms of the Arrangement, AstraZeneca, through a subsidiary, will acquire all of Fusion's outstanding shares for a price of US$21.00 per share in cash at closing plus a non-transferable contingent value right (CVR) representing the contingent right to receive US$3.00 per share in cash payable upon the achievement of a specified regulatory milestone, pursuant and subject to the terms and conditions of a contingent value rights agreement.
The Arrangement is subject to approval by the affirmative vote of (i) not less than 66⅔% of the votes cast by the Shareholders, present in person or represented by proxy at the Meeting, each being entitled to one vote per share, and (ii) a majority of the votes cast by the Shareholders&nbsp;present in person or represented by proxy at the Meeting, each being entitled to one vote per share after excluding the votes of those persons whose votes are required to be excluded in accordance with Multilateral Instrument 61-101 of the Canadian Securities Administrators (the "CSA").
Interim Order
Fusion also announced today that the Ontario Superior Court of Justice (Commercial List) (the "Court") has issued an interim order in connection with the Arrangement authorizing various matters, including the holding of the Meeting and the mailing of the Circular.

FUSN

AstraZeneca, Through A Subsidiary, Will Acquire All Of Fusion's Outstanding Shares For A Price Of $21.00 Per Share In Cash At Closing Plus A Non-Transferable CVR Representing The Contingent Right To Receive $3.00/Share In Cash Payable Upon The Achievement Of A Specified Regulatory Milestone, Pursuant And Subject To The Terms And Conditions Of A Contingent Value Rights Agreement

Hundreds of people, mostly students, have been arrested this week across the country as pro-Palestine protests spread <a href="https://www.benzinga.com/general/politics">at college campuses</a>.
Protesters are calling for a cease fire and have now added a new demand: they expect their universities to sell off stocks in companies that directly or indirectly benefit from Israel's actions in Gaza and the West Bank.
Columbia University in New York has shifted to online classes <a href="https://www.benzinga.com/news/24/04/38358514/mike-pence-tim-scott-slam-pro-palestinian-protests-in-columbia-university-no-place-for-anti-semitism">after over 100 pro-Palestinian protesters were arrested last Thursday</a>. 
Protests continued this week at several universities in the country where local police departments arrested hundreds more.
At New York University, 133 protesters were taken into custody on Wednesday and later released with summonses to appear in court.
At least 57 protesters were arrested in Austin on Wednesday as a protest sparked on the University of Texas campus, according to a spokeswoman for the Travis County Sheriff's Office, <a href="https://apnews.com/article/gaza-war-campus-protests-966eb531279f8e4381883fc5d79d5466">cited</a> by the Associated Press.
Over 90 people were arrested on Wednesday night at the University of Southern California according to the Los Angeles Police Department. The university has since closed the campus and said it expects anyone trespassing to be arrested, in an effort to stop the protests.
Two more people were arrested at Ohio State University. Seventeen were arrested at Emory University in Atlanta, Georgia. In Boston, 108 people were arrested in an Emerson College encampment, while 48 were arrested at Yale University in New Haven.
More encampments were put together on campuses at the University of Michigan, University of Minnesota and University of California, Berkeley.
Israeli President Benjamin Netanyahu said on Wednesday that "what's happening in America's college campuses is horrific."
"Antisemitic mobs have taken over leading universities. They call for the annihilation of Israel. They attack Jewish students. They attack Jewish faculty," said Netanyahu, who has been widely criticized for the actions of Israel Defense Forces in Gaza, which have taken 34,000 civilian lives according to the Palestinian Health ministry.
Read also: <a href="https://www.benzinga.com//node/38411689">Israel Gears Up For Military Strike In Rafah Despite Biden&#8217;s Warning</a>
<h1 class="wp-block-heading">Students Call For Divestment From Israel</h1>
Student protesters launched an encampment in the Harvard University Yard on Wednesday, demanding the university to "divest from Israel's war in Gaza," the Harvard Crimson <a href="https://www.thecrimson.com/article/2024/4/25/harvard-yard-protest-palestine/">reported</a>.
Harvard boasts the largest university endowment in the world, at about $50 billion, which is made up of approximately 14,000 funds.
SEC filings by the Harvard Management Company, which operates the investments, don't show Israeli companies among its largest investments. 
Top allocations include stocks from the technology sector, including Alphabet Inc Class C (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) and ASML Holding NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>).
Protesters at several other colleges also had similar demands, calling for a sell-off of all assets associated with supporting the war effort in Gaza or the Israeli government. The strategy is meant to put symbolic pressure on Israel to reach a cease-fire.
The demand is seen as a clear way in which universities can take direct action against Israel.&nbsp;
While the stakes that universities hold on the targeted companies are not enough to cause significant disruption on an economic scale, the action would be considered a win by the protesting bodies as well as a symbolic gesture that could influence public opinion on the issue.
Columbia University student and protest leader Mahmoud Khalil <a href="https://www.nbcnews.com/business/business-news/college-protesters-divest-from-israel-what-it-means-rcna149147">said</a> to NBC News that his university "should stop investing in this genocide," as protesters sang to the slogan of "disclose, divest, we will not stop, we will not rest."
Columbia President Minouche Shafi marked Friday as the deadline for dismantling the ongoing encampment at the university before having "to consider alternative options.&#8221;
What "divesting" actually means varies from protest to protest. 
<a href="https://www.nytimes.com/2024/04/24/business/college-protesters-divestment-israel.html">According</a> to the NY Times, protesters at Yale and Cornell demanded for a divestment in all weapon manufacturers including Boeing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>). 
At Columbia on the other hand, protesters see companies that are indirectly benefiting from Israeli as targets for divestment, including Alphabet-owned Google, which has a $1.2-billion contract with the Israeli government for cloud services.
Last week, it became known that Google fired 28 employees <a href="https://www.benzinga.com/markets/equities/24/04/38306735/google-reportedly-fires-28-staff-members-over-israel-cloud-contract-protests-majority-of-our-emp">who participated in a sit-in protesting the same contract from within the company</a>. The contract also includes Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).
Airbnb Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>) was also targeted by students because it has open listings of lodging in areas of the West Bank occupied by Israel.
By Thursday, no major U.S. university had publicly announced plans to divest in companies following protester's demands.
Now read: <a href="https://www.benzinga.com//node/38353867">Israeli Military Intel Chief Resigns Over Hamas Attack Failures: &#8216;I Have Carried That Black Day With Me Ever Since&#8217;</a>
Shutterstock image: Supporters from various groups and some students continue pro-Palestinian protest at Columbia University in New York on April 19, 2024, as part of &#8220;March for Divestment.&#8221;