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Arm shares are down nearly 30% over the past five days as earnings from ASML Holdings and Taiwan Semiconductor Manufacturing Company have put pressure on the semiconductor sector. 

What&#39;s Going On With Arm Holdings Stock?

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China&#39;s mobile-based social and entertainment provider, Hello Group, reported a 6.5% decline in net revenue but beat earnings expectations. Stock price dropped and a special dividend was declared.

What&#39;s Going On With Chinese Social Media Firm Hello Group Stock Thursday?

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Active vs. passive management debate persists. TrueMark makes case for actively managed ETFs focusing on concentrated portfolios.

EXCLUSIVE: TrueMark Investment CEO Reveals Strategy To Beat Markets With Actively Managed ETFs

iShares Robotics and Artificial Intelligence Multisector ETF

Keefe, Bruyette &amp; Woods analyst Kyle Voigt maintains Raymond James Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RJF#NYSE">RJF</a>) with a Market Perform and lowers the price target from $132 to $131.

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Keefe, Bruyette & Woods Maintains Market Perform on Raymond James Finl, Lowers Price Target to $131

Canadian cannabis company Adastra Holdings Ltd. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/XTRX#CSE">XTRX</a>)(FRA:D2EP) (OTCPK:XTXXF) its financial results reported Tuesday for the fourth quarter and the year ended Dec. 31, 2023.
For the fourth quarter of 2024, the British Columbia-based cannabis concentrates producer reported gross revenue of CA$9.1 million ($6.7 million), compared to CA$6.8 million in the same period of 2022.
&#8220;During 2023, Adastra experienced significant sales growth of $37.7 million, representing a 108% increase compared to the same period last year, and marking our third consecutive year of achieving record revenue," stated Lachlan McLeod, interim CEO of Adastra. "The increased demand for our in-house brand, Endgame Extracts, has been a key driver behind this success, evident in our continued success with numerous best-selling SKUs in B.C, Alberta, and Ontario according to Headset.&#8221;
<h2 class="wp-block-heading">Fiscal Year 2023 Summary&nbsp;</h2>
<ul>
<li>Net revenue amounted to CA$22.2 million, up 67% from CA$13.3 million in 2022.</li>
<li>Record gross profit of CA$7.6 million for 2023, representing&nbsp;a 24% increase compared to CA6.1 million in 2022.</li>
<li>Net loss was CA$3.54 million, up&nbsp;by&nbsp;17% from the previous year.</li>
<li>Loss from operations of CA$1.8 million, compared to CA$800,000 for 2022, an increase of 124% due to the&nbsp;company&#8217;s&nbsp;increased spending on marketing initiatives to increase brand awareness of the suite of products under the Endgame Extracts brand.</li>
<li>Record cash provided by operating activities of CA$1.9 million compared to CA$900,000 in 2022 as the company closely managed cash flows during the year.</li>
<li>As of Dec. 31, 2023, Adastra had a working capital deficiency of around CA$6 million and a deficit of CA$21.7 million.</li>
</ul>
<h2 class="wp-block-heading">Q4 2023 Financial Takeaways</h2>
<ul>
<li>Gross revenues of CA$9.1 million in Q4 2023, compared to CA$6.8&nbsp;million in the fourth quarter of 2022, representing an increase of&nbsp;34%,&nbsp;due to an increase in throughput of the Langley Facility and increased deliveries to provincial distributors.</li>
<li>Net loss and comprehensive loss of CA$1.5 million during, compared to CA$2.6 million during the third quarter of 2023, a decrease of 43% quarter over quarter.</li>
</ul>
&#8220;Looking ahead to 2024, we expect to continue&nbsp;this momentum and have already set new records, including receiving a&nbsp;record&nbsp;single purchase order of $1 million in March 2024,"&nbsp;McLeod added.&nbsp;"Moreover,&nbsp;we&#8217;re&nbsp;committed to a renewed focus on cost-saving measures&nbsp;aimed at ensuring&nbsp;profitability. As we continue to grow, we aim&nbsp;to further strengthen our financial position&nbsp;and drive sustainable success.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/04/38291847/no-cannabis-tax-relief-in-canada-tilray-ceo-says-this-hinders-our-ability-to-compete-with-the-il" target="_blank" rel="noreferrer noopener">No Cannabis Tax Relief In Canada, Tilray CEO Says This&nbsp;&#8216;Hinders Our Ability To Compete With The Illicit Market&#8217;</a>
Photo: Courtesy of iQoncept via Shutterstock

Cannabis

CSE:XTRX

XTXXF

Canadian Cannabis Concentrates Producer, Adastra, Reports Third Year Of Record Revenue, But Also Higher Losses

U.S. stocks traded lower this morning, with the Dow Jones index tumbling by more than 500 points on Thursday.
Following the market opening Thursday, the Dow traded down 1.42% to 37,915.92 while the NASDAQ fell 2.16% to 15,374.09. The S&amp;P 500 also fell, dropping, 1.37% to 5,002.04.
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/04/38428592/how-to-earn-500-a-month-from-t-mobile-us-stock-ahead-of-q1-earnings-report">How To Earn $500 A Month From T-Mobile US Stock Ahead Of Q1 Earnings Report</a>
Leading and Lagging Sectors Consumer staples shares climbed by 0.3% on Thursday.
In trading on Thursday, communication services shares fell by 6.3%.
Top Headline
The U.S. economy grew an annualized 1.6% in the first quarter, marking a notable slowdown from the 3.4% rate in the final quarter of 2023. However, analysts were expecting a 2.5% growth.
Equities Trading UP                       
<ul>
<li>Safe &amp; Green Holdings Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGBX#NASDAQ">SGBX</a>) shares shot up 70% to $0.2453. Safe &amp; Green Holdings said it has entered into an agreement to produce 4 modular electrical distribution centers as part of a multi-unit order for a client serving the big box retailer market.</li>
<li>Shares of Barfresh Food Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRFH#NASDAQ">BRFH</a>) got a boost, surging 68% to $1.85.</li>
<li>Processa Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCSA#NASDAQ">PCSA</a>) shares were also up, gaining 49% to $2.4201 after HC Wainwright &amp; Co initiated coverage on the stock with a Buy rating and announced an $8 price target.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Hanryu Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HRYU#NASDAQ">HRYU</a>) shares dropped 37% to $0.3330. Hanryu Holdings received delinquency notice from the Nasdaq for late annual report filing.</li>
<li>Shares of Huize Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUIZ#NASDAQ">HUIZ</a>) were down 25% to $0.4697.</li>
<li>Chicken Soup for the Soul Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSSE#NASDAQ">CSSE</a>) was down, falling 28% to $0.3047. Chicken Soup For The Soul Entertainment received delinquency letter from the Nasdaq.</li>
</ul>
Also Check This Out: <a href="https://www.benzinga.com/news/24/04/38429948/meta-platforms-to-rally-around-14-here-are-10-top-analyst-forecasts-for-thursday">Meta Platforms To Rally Around 14%? Here Are 10 Top Analyst Forecasts For Thursday</a>
Commodities In commodity news, oil traded up 0.4% to $83.13 while gold traded up 0.1% at $2,341.60.
Silver traded up 0.4% to $27.45 on Thursday, while copper rose 2.6% to $4.5745.
Euro zone
European shares were mixed today. The eurozone's STOXX 600 fell 0.3%, London's FTSE 100 rose 0.7% while Spain's IBEX 35 Index rose 0.3% The German DAX fell 0.5% French CAC 40 fell 0.8% while Italy's FTSE MIB Index fell 0.2%.
Producer prices in Spain fell 8.2% year-over-year in March compared to a revised 8.5% decline in February. The GfK Consumer Climate Indicator for Germany climbed to -24.2 heading into May versus a revised reading of -27.3 in the prior period. UK's car production fell 27.1% to 59,467 units for March.
Asia Pacific Markets
Asian markets closed mostly higher on Thursday, with Japan's Nikkei 225 falling 2.16%, Hong Kong's Hang Seng Index gaining 0.48%, China's Shanghai Composite climbing 0.27% and India's S&amp;P BSE Sensex gaining 0.66%.
Hong Kong's trade deficit increased to $45.0 billion in March from $40.6 billion in the year-ago month. The index of leading economic indicators in Japan came in unchanged at 111.8 in February, while index of coincident economic indicators was revised higher to 111.6 in February versus a flash reading of 110.9.
Economics
<ul>
<li>U.S. initial jobless claims declined by 5,000 to 207,000 in the week ending April 20, compared to market estimates of 214,000.</li>
<li>The U.S. economy grew an annualized 1.6% in the first quarter, marking a notable slowdown from the 3.4% rate in the final quarter of 2023. However, analysts were expecting a 2.5% growth.</li>
<li>U.S. wholesale inventories fell by 0.4% month-over-month in March compared to a revised 0.4% gain in February.</li>
</ul>
Now Read This:<a href="https://www.benzinga.com/24/04/38429015/jim-cramer-youre-dice-rolling-with-this-biopharma-stock-but-vista-energy-is-a-good-situation"> Jim Cramer: You&#8217;re &#8216;Dice Rolling&#8217; With This Biopharma Stock, But Vista Energy Is &#8216;A Good Situation</a>

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Dow Dips Over 500 Points; US GDP Growth Misses Expectations

Thursday,&nbsp;Sanofi SA&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>)&nbsp;<a target="_blank" href="https://www.sanofi.com/en/investors/financial-results-and-events/financial-results/q1-results-2024" rel="noreferrer noopener">reported</a>&nbsp;first-quarter operating income of 2.8 billion euros, down 14.7% Y/Y and 4.2% on constant currency.
The French drugmaker reported adjusted EPS of $0.97&nbsp;(1.78 euros), beating the consensus estimate of $0.94.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/04/38091091/in-heart-burn-drug-zantacs-litigation-saga-sanofi-nears-settlement-in-major-lawsuit-cluster" rel="noreferrer noopener">In Heart Burn Drug Zantac&#8217;s Litigation Saga, Sanofi Nears Settlement in Major Lawsuit Cluster</a>.
The company reported first-quarter sales of $11.36 billion (10.5 billion euros), beating the consensus of $11.04 billion.
Research and Development expenses increased by 10.0% to 1.7 billion euros. At CER, R&amp;D expenses increased by 11.8%, reflecting increased expenses in Vaccines (mRNA) and Pharma (pipeline acceleration).
The strong performance of Dupixent, Pharma launches, and Beyfortus late-season deliveries was partially offset by the impact of generic competition on Aubagio&nbsp;as well as&nbsp;lower sales of Lantus.
First-quarter sales of eczema and asthma drug Dupixent jumped a currency-adjusted 24.9% to 2.84 billion euros.
Pharma launches up 90.5% to 606 million euros, led by Nexviazyme and ALTUVIIIO.
Vaccine sales increased by 5.6% to 1.2 billion euros, driven by strong Beyfortus (RSV vaccine) uptake partly offset by the absence of COVID-19 vaccine&nbsp;sales this quarter compared to 167 million euros in Q1 2023
Guidance:&nbsp;For 2024, Sanofi reiterates a low single-digit business EPS decline.
The company expects Dupixent to&nbsp;<a target="_blank" href="https://www.sanofi.com/assets/dotcom/content-app/events/quaterly-results/2024/2024-q1-2024-results/q1-2024-presentation-en.pdf" rel="noreferrer noopener">deliver</a>&nbsp;around €13 billion in 2024 sales.
Vaccine sales&nbsp;are expected&nbsp;to grow mid-single-digit in 2024.
Sanofi shares an ambition to reach blockbuster status (sales over $1 billion) for its Beyfortus vaccine.
Beyfortus sales reached&nbsp;182 million euros, reflecting late deliveries in the US and&nbsp;the new&nbsp;implementation of &#8220;All Infant Protection&#8221; programs in Chile and Australia. No Beyfortus sales&nbsp;are expected&nbsp;in Q2 2024 due to the early delivery in Q1 and the specific seasonality.
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38299995/amgenastrazenecas-asthma-drug-tezspire-vs-sanofiregenerons-blockbuster-dupixent-ana" rel="noreferrer noopener">Amgen/AstraZeneca&#8217;s Asthma Drug Tezspire Vs. Sanofi/Regeneron&#8217;s Blockbuster Dupixent &#8211; Analyst Gives His Pick</a>.
Price Action: SNY shares are up 5.40% at $49.13 at the last check Thursday.
Image by HJBC via Shutterstock

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Drugmaker Sanofi's Strong Dupixent And Beyfortus Vaccine Sales Propel Q1 Earnings

Keefe, Bruyette &amp; Woods analyst Kelly Motta reiterates RBB Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RBB#NASDAQ">RBB</a>) with a Market Perform and raises the price target from $20 to $22.

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Keefe, Bruyette & Woods Reiterates Market Perform on RBB Bancorp, Raises Price Target to $22

Amkor Tech's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMKR#NYSE">AMKR</a>) short percent of float has fallen 8.02% since its last report. The company recently reported that it has 3.11 million shares sold short, which is 4.7% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.0 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Amkor Tech Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714052723_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Amkor Tech has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Amkor Tech's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Amkor Tech's peer group average for short interest as a percentage of float is 7.00%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

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AMKR

Peering Into Amkor Tech's Recent Short Interest

Moderna's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NYSE">MRNA</a>) short percent of float has fallen 3.53% since its last report. The company recently reported that it has 21.44 million shares sold short, which is 7.38% of all regular shares that are available for trading. Based on its trading volume, it would take traders 6.3 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Moderna Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714052717_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Moderna has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Moderna's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Moderna's peer group average for short interest as a percentage of float is 5.01%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

MRNA

How Is The Market Feeling About Moderna?

BigBear.ai Hldgs's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>) short percent of float has risen 19.54% since its last report. The company recently reported that it has 16.93 million shares sold short, which is 12.42% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.43 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>BigBear.ai Hldgs Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714052712_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for BigBear.ai Hldgs has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing BigBear.ai Hldgs's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, BigBear.ai Hldgs's peer group average for short interest as a percentage of float is 3.31%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

BBAI

Looking Into BigBear.ai Hldgs's Recent Short Interest

WIIM

CLSK

COIN

MSTR

Shares of crypto-related stocks are trading lower as Bitcoin falls following weak US GDP data.

Keefe, Bruyette &amp; Woods analyst Christopher Mcgratty maintains Pacific Premier Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PPBI#NASDAQ">PPBI</a>) with a Market Perform and lowers the price target from $29 to $27.

PPBI

Keefe, Bruyette & Woods Maintains Market Perform on Pacific Premier Bancorp, Lowers Price Target to $27

Harley-Davidson, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOG#NYSE">HOG</a>) shares are trading lower on Thursday.
The company reported first-quarter adjusted earnings per share of $1.72,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38426150/harley-davidson-delivers-first-quarter-financial-results" rel="noreferrer noopener">beating the analyst consensus of $1.51.&nbsp;</a>
The company reported first-quarter HDMC + LiveWire sales of $1.48 billion,&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">beating the consensus of $1.34 billion</a>.&nbsp;HDMC revenue is down 5%, primarily due to a planned decrease in motorcycle shipments.
Consolidated revenue in the first quarter was down 3%, driven by an HDMC revenue decrease, partially offset by HDFS revenue growth of 12%.
In the first quarter, global motorcycle shipments decreased by 7%. The first quarter gross margin was down 4.5 points due to the impacts of pricing and sales incentives, lower volume, and higher manufacturing costs. 
The first quarter operating income margin was down 5.4 points,&nbsp;where&nbsp;operating expenses were roughly flat&nbsp;in the quarter.
Harley-Davidson generated&nbsp;$104 million&nbsp;of cash from operating activities. The company exited the quarter with cash and equivalents of&nbsp;$1.5 billion.
Outlook:&nbsp;&#8220;Harley-Davidson delivered a good start to the year with a six percent retail growth in&nbsp;North America, our largest and most important region,&#8221; said&nbsp;Jochen Zeitz, Chairman, President&nbsp;and&nbsp;CEO,&nbsp;Harley-Davidson.&nbsp;
For the full year 2024, the company continues to expect HDMC revenue&nbsp;flat&nbsp;to down 9% and&nbsp;operating&nbsp;income margin of 12.6%-13.6%.
Harley-Davidson sees LiveWire operating loss of $(105)&nbsp;million-$(115) million in FY24, versus the&nbsp;previous&nbsp;guidance&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">of an operating loss of&nbsp;$(115)&nbsp;million-$(125) million.</a>
The company projects LiveWire electric motorcycle unit sales of 1,000 to 1,500. Harley-Davidson anticipates capital investments of <a href="https://www.benzinga.com/calendars/guidance" target="_blank" rel="noreferrer noopener">$225 million to $250 million.</a>
Price Action: HOG shares are trading lower by 13.7% to $34.06 at last check Thursday. 
Photo via Wikimedia Commons

What's Going On With Harley-Davidson Shares After Q1 Results?

Three New Games Based on Classic Hasbro Titles Are Set to Launch Exclusively on Nex Playground Starting Today, With HUNGRY HUNGRY HIPPOS: MOVE N' MUNCH Being the First Release

Nex And Hasbro Expand Collaboration To Launch New Suite Of Family Games For Nex Playground Console

Keefe, Bruyette &amp; Woods analyst Timothy Switzer reiterates Premier Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PFC#NASDAQ">PFC</a>) with a Market Perform and lowers the price target from $25 to $23.

Keefe, Bruyette & Woods Reiterates Market Perform on Premier Financial, Lowers Price Target to $23

AMZN

Amazon shares are trading lower as large-cap tech stocks fall in sympathy with Meta.

Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) analysts recently released a note predicting that the Federal Reserve will only cut rates once this year, compared with their previous prediction of four cuts.&nbsp;
"2024 is starting to look like 2015 but in reverse. Then the Fed signaled hikes it could not deliver; now the Fed may be signaling cuts that the inflation data do not justify," Bank of America economist Michael Gapen said in the note. "The acceleration of inflation this year makes a cut prior to December challenging in our view."
Don't Miss:
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<li>Join the elite. Invest in Epic Games and<a href="https://www.benzinga.com/money/epic-games"> own a piece of the $17 billion Fortnite empire</a>.</li>
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In 2015, the Fed increased interest rates and reduced support for the American economy, despite a minimal increase in inflation rates of 0.12%.&nbsp;
March saw a 3.5% rise in the consumer price index greater than the 3.2% jump for the 12 months ending in February, driven mainly by significant increases in food and beverage costs, according to the U.S. Bureau of Labor Statistics. Juice and drink prices soared by 27.5%, while egg prices climbed by 4.6%.
Trending: Invest alongside execs from Uber, Facebook and Apple in this<a href="https://www.benzinga.com/money/aura"> wellness app Transforming a $5.6 TRILLION dollar industry</a>.
While 2015 could be viewed as a great buying opportunity for U.S. stocks, with the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) up about 142% from the start of that year to today, others aren't so sure it's the right parallel.
For example, JPMorgan Chase &amp; Co. CEO Jamie Dimon sees a different, and perhaps more ominous, setup ahead for markets given how much spending is needed to tackle today's pressing issues.
Specifically, he shares his view that "$2 trillion of fiscal deficit, the infrastructure and IRA act, the green economy, the remilitarization of the world, the restructuring of trade are all inflationary,&#8221; with that looking &#8220;like the 1970s to me."&nbsp;
Reflecting on whether investors are ready for higher-than-expected inflation, Dimon ominously said he's "not sure."
Meanwhile, the Fed seems to be delaying any interest rate cuts until inflation is more manageable.&nbsp;
In an interview with Bloomberg on April 15, Federal Reserve Bank of New York President and CEO John Williams said, "We will need to start a process at some point to bring interest rates back to more normal levels, and my own view is that process will likely start this year."&nbsp;
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Scotiabank Downgrades HashiCorp to Sector Perform, Raises Price Target to $35

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For those waiting on clarity surrounding stablecoins in the U.S., Representative Maxine Waters (D-CA), a key figure in the House Financial Services Committee, has indicated that a <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38385726/brics-eye-stablecoins-cbdc-bridge-to-advance-financial-integration">stablecoin bill could be finalized soon</a>.
What Happened: &#8220;We are on our way to getting a stablecoin bill in the short run,&#8221; Waters <a href="https://www.bloomberg.com/news/articles/2024-04-24/key-democrat-touts-progress-on-stablecoin-marijuana-legislation?sref=3REHEaVI&amp;embedded-checkout=true">told</a> Bloomberg in a recent interview. 
This news comes after she previously criticized a draft version of the bill, calling it &#8220;problematic&#8221; and lacking proper investor protections.
Historically critical of previous drafts, which she labeled as "deeply problematic and bad for America,&#8221; Waters highlighted the necessity of ensuring stablecoins are adequately backed by assets. 
"It's about making sure investors and the people are protected," Waters elaborated.
The legislative push has gained momentum recently, with significant involvement from key U.S. institutions including the Federal Reserve, the Treasury Department and the White House. 
The collaborative effort is a response to the growing need for regulatory clarity as the use of stablecoins expands.
Moreover, Waters and Patrick McHenry (R-N.C.), the Chairman of the House Financial Services Committee, have been in discussions for nearly two years and have even engaged Senate Majority Leader Chuck Schumer (D-N.Y.) in efforts to accelerate the bill. 
Their strategy includes attaching the stablecoin legislation to the indispensable Federal Aviation Administration reauthorization bill due next month.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read:<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38413962/jack-dorsey-wants-to-make-bitcoin-mining-as-easy-as-plugging-in-a-lamp-heres-how"> Jack Dorsey Wants To Make Bitcoin Mining As Easy As Plugging In A Lamp: Here&#8217;s How</a>
Why It Matters: In the Senate, efforts parallel those in the House. 
Senators Cynthia Lummis (R-Wyo.) and Kirsten Gillibrand (D-N.Y.) recently proposed legislation that seeks to prohibit algorithmic stablecoins and requires issuers to maintain full reserve backing.
Further bipartisan discussions have occurred with Senate Banking Chairman Sherrod Brown, who earlier this month expressed a willingness to advance stablecoin legislation. 
Adding to the legislative landscape, there is potential for the stablecoin bill to be coupled with marijuana banking reforms, although this may face challenges, notably from Senate Republican leader Mitch McConnell (R-Ky.).
This evolving regulatory framework for stablecoins is of keen interest to attendees of Benzinga&#8217;s upcoming <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19. 
This event will delve into how new laws might shape the landscape for cryptocurrencies and other digital assets, offering a platform for experts to discuss the implications of these <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38382733/crypto-lobby-group-sues-sec-over-new-dealer-rule">changes on global financial markets.</a>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38412858/trumps-crypto-portfolio-rebounds-with-1m-weekly-profit-which-crazy-new-currencies-does-he-">Trump&#8217;s Crypto Portfolio Rebounds With $1M Weekly Profit: Which &#8216;Crazy New Currencies&#8217; Does He Hold?</a>
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Maxine Waters Says 'Stablecoin Bill In The Short Run' Coming

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