ALPS ETF Trust ALPS Intermediate Municipal Bond ETF (ARCA: MNBD)

Latest News for ALPS ETF Trust ALPS Intermediate Municipal Bond ETF (ARCA:MNBD)

ALPS ETF Trust ALPS Intermediate Municipal Bond ETF

B of A Securities analyst Ming Hsun Lee maintains Li Auto (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) with a Buy and lowers the price target from $41 to $36.

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Price Target

Analyst Ratings

B of A Securities Maintains Buy on Li Auto, Lowers Price Target to $36

Phillips 66&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>) inked a deal to acquire Pinnacle Midland Parent LLC from Energy Spectrum Capital for a cash&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/b38926714/phillips-66-to-acquire-pinnacle-midstream-from-energy-spectrum-capital" rel="noreferrer noopener">consideration of $550 million</a>.
The strategic move reflects the expansion of its natural gas gathering and processing footprint in the Midland Basin.
Pinnacle&#8217;s assets include the recently built Dos Picos natural gas gathering and processing system. It is a 220 MMcf/d gas processing plant, 80 miles of gathering pipeline, and 50,000 dedicated acres through high-quality producers in one of Phillips 66&#8217;s core basins.&nbsp;
The Dos Picos processing complex and related infrastructure&nbsp;is&nbsp;easily scalable toward a second 220 MMcf/d gas plant and&nbsp;integrates&nbsp;well into the company&#8217;s existing downstream infrastructure.
The transaction&nbsp;is expected&nbsp;to close around mid-year of 2024, following satisfaction of customary closing conditions.
Mark Lashier, Chairman and&nbsp;CEO&nbsp;said, &#8220;We are growing our Midstream business in the Permian to further strengthen and expand our service offerings to customers while driving operational and commercial synergies.&#8221;&nbsp;
&#8220;Pinnacle is a bolt-on asset that advances our wellhead-to-market strategy and complements our diversified and integrated asset portfolio. Further, this transaction aligns with our long-term objectives to build&nbsp;out&nbsp;our natural gas liquids value chain, be disciplined with our capital allocation&nbsp;and&nbsp;create sustainable value for our shareholders.&#8221;
Last month, Phillips 66 reported first-quarter FY24 revenue of $36.436 billion, exceeding the consensus of $33.075 billion, and adjusted EPS of $1.90,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38461749/why-petroleum-refineries-major-phillips-66-shares-are-falling-today" rel="noreferrer noopener">missing&nbsp;the consensus of $2.17</a>.
As of March-end, the company had cash and cash equivalents of $1.6 billion&nbsp;and committed capacity available under its credit facility worth $3.5 billion.&nbsp;
Investors can gain exposure to the stock via&nbsp;IShares U.S. Oil &amp; Gas Exploration &amp; Production ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/IEO#BATS">IEO</a>) and&nbsp;VanEck Oil Refiners&nbsp;ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRAK#NYSE">CRAK</a>).
Price Action: PSX shares are down 0.15% at $144.20 premarket at&nbsp;the last check Tuesday.

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Large Cap

CRAK

iShares Dow Jones US Oil & Gas Exploration & Production Index Fund

Pipeline Power Play: Phillips 66 Makes $550M Gas Grab In The Permian Basin

CONSOL Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CEIX#NYSE">CEIX</a>) reports that coal shipments to international markets began leaving its Marine Terminal in&nbsp;Baltimore&nbsp;last night. This is after a shutdown of the terminal due to the collapse of the Francis Scott Key bridge on&nbsp;March 26.
The first empty ship arrived at the CONSOL Marine Terminal early Sunday morning, was loaded throughout that day and awaited clearance from officials for the&nbsp;7:00PM&nbsp;departure time Monday night.

CEIX

CONSOL Energy Coal Shipments Resume from Its Marine Terminal in Baltimore

HC Wainwright &amp; Co. analyst Edward White reiterates SAB Biotherapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SABS#NASDAQ">SABS</a>) with a Buy and maintains $6 price target.

Reiteration

SABS

HC Wainwright & Co. Reiterates Buy on SAB Biotherapeutics, Maintains $6 Price Target

B of A Securities analyst Vivek Arya maintains Global E Online (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLBE#NASDAQ">GLBE</a>) with a Buy and raises the price target from $46 to $47.

GLBE

B of A Securities Maintains Buy on Global E Online, Raises Price Target to $47

WIIM

HSAI

Hesai Group shares are trading lower following Q1 earnings.

HC Wainwright &amp; Co. analyst Edward White maintains Inhibikase Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IKT#NASDAQ">IKT</a>) with a Buy and lowers the price target from $27 to $23.

HC Wainwright & Co. Maintains Buy on Inhibikase Therapeutics, Lowers Price Target to $23

PSNY

Polestar shares are trading lower. The company on Friday acknowledged the receipt of a deficiency notice from Nasdaq.

Elbit Systems Ltd.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESLT#NASDAQ">ESLT</a>) shares are trading mildly higher in the&nbsp;<a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">premarket session on Tuesday</a>.
The company said it was awarded a group of contracts in an aggregate amount of approximately&nbsp;$760 million&nbsp;for&nbsp;the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/n38932068/elbit-systems-awarded-a-group-of-contracts-in-an-aggregate-amount-of-approximately-760-million-for" rel="noreferrer noopener">supply of&nbsp;ammunitions&nbsp;to the Israeli Ministry of Defense.</a>
&#8220;As previously reported by the company, since the beginning of the Swords of Iron war, Elbit Systems has experienced a material increased demand for its products and solutions from the IMOD compared to the demand levels prior to the war,&#8221; per a press release.
The contracts will be performed&nbsp;over a period of&nbsp;two years.
&#8220;Subject to further developments, which are difficult to predict, the IMOD&#8217;s increased demand for the company&#8217;s products and solutions may continue and could generate&nbsp;material additional&nbsp;orders&nbsp;to&nbsp;the company,&#8221; Elbit Systems added.
While reporting&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/03/37928455/elbits-order-blitz-buoys-q4-revenue-but-profit-margins-erode" rel="noreferrer noopener">fourth-quarter results</a>,&nbsp;Bezhalel (Butzi) Machlis, President and CEO, said, &#8220;Elbit Systems is committed to supporting the increased requirements of the IMOD as well as maintaining our commitments to all our customers around the world.&#8221;
&#8220;The acceleration in revenue growth reflects the successful implementation of our operational transformation&nbsp;plan,&nbsp;as we increase capacity to convert a growing backlog into revenues,&#8221;&nbsp;Machlis added.
Price Action:&nbsp;ESLT shares are trading higher by 0.64% to $197.62 premarket at last check Tuesday.&nbsp;

Contracts

Markets

General

ESLT

Elbit Systems Gets $760M Contract From Israeli Ministry Of Defense, Confirms Higher Demand Since Beginning Of War

GSX Techedu Inc. American Depositary Shares

GOTU

Gaotu Techedu shares are trading lower following Q1 financial results.

Zoom shares are trading lower following Q1 earnings.

HC Wainwright &amp; Co. analyst Douglas Tsao reiterates Evolus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EOLS#NASDAQ">EOLS</a>) with a Buy and maintains $27 price target.

EOLS

HC Wainwright & Co. Reiterates Buy on Evolus, Maintains $27 Price Target

AstraZeneca shares are trading higher after the company announced its target of $80 billion in Total Revenue by 2030.

Biotech

Earnings

Guidance

Health Care

PHGE

BiomX Q1 EPS $(0.28) Down From $(0.20) YoY, With Cash Balance Of $44.1M Expected To Provide Cash Runway Into Q4 Of 2025

HC Wainwright &amp; Co. analyst Mitchell Kapoor reiterates Korro Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KRRO#NASDAQ">KRRO</a>) with a Buy and maintains $100 price target.

KRRO

HC Wainwright & Co. Reiterates Buy on Korro Bio, Maintains $100 Price Target

Lowe's Companies shares are trading higher after the company reported better-than-expected Q1 financial results.

Beyond Meat Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BYND#NASDAQ">BYND</a>) is reportedly facing significant challenges as two of its early adopters,&nbsp;Carl&#8217;s Jr.&nbsp;and&nbsp;Jack In The Box Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JACK#NASDAQ">JACK</a>) owned&nbsp;Del Taco Restaurants Inc., have removed its plant-based beef from many locations.
The shift reflects a decline in consumer interest in meat substitutes.
Most Carl&#8217;s Jr. outlets, which exceed 1,000 in number, stopped offering the Beyond Burger as of April 24, according to a report by&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-05-20/carl-s-jr-and-del-taco-are-scaling-back-beyond-meat-products?srnd=industries-v2&amp;sref=TBDibEcD" rel="noreferrer noopener">Bloomberg</a>.&nbsp;
The chain&nbsp;initially&nbsp;launched the Beyond Burger in January 2019, marking one of Beyond Meat&#8217;s first major fast-food collaborations.&nbsp;
The CEO of Carl&#8217;s Jr.&#8217;s parent company, CKE Restaurants, had lauded the patty as an &#8220;industry game changer&#8221;&nbsp;at the time.
Although the Beyond Burger is&nbsp;largely&nbsp;off the menu now, a fried zucchini sandwich remains available at select locations,&nbsp;as&nbsp;per the report.
Similarly, Del Taco has discontinued Beyond Meat offerings across nearly 600 locations since last spring due to &#8220;low sales,&#8221;&nbsp;according to a Bloomberg source.&nbsp;
Nevertheless, Del Taco remains open to exploring innovative plant-based menu options with Beyond Meat. Del Taco began its partnership with Beyond Meat in 2019, proclaiming it&nbsp;as&nbsp;&#8220;the future of tacos.&#8221;
Once a favored choice on Wall Street, the company has seen its stock price plummet as it struggles to gain&nbsp;traction with consumers.&nbsp;
However, last week, the stock received fresh interest amid a rally in meme stocks after retail investor&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38827325/why-beyond-meats-stock-is-roaring-higher" rel="noreferrer noopener">Roaring Kitty made a return to social media.</a>
CEO Ethan Brown,&nbsp;in a recent earnings call, touted the fourth iteration of their burger as a &#8220;home run,&#8221;&nbsp;signaling the company&#8217;s hope to boost its fortunes by increasing prices.
The&nbsp;plant-based meat&nbsp;company&#8217;s first-quarter revenue decreased&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38731541/whats-going-on-with-beyond-meat-shares-thursday" rel="noreferrer noopener">18% year-over-year to $75.603 million</a>.&nbsp;
Beyond Meat is banking on new product developments and pricing strategies to reverse its declining market performance.
Beyond Meat stock has lost more than 30% in the last 12 months. Investors can gain exposure to the stock via Vanguard Consumer Staples ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VDC#NYSE">VDC</a>) and&nbsp;IShares Russell 2000 Growth ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWO#NYSE">IWO</a>).
Price Action: BYND shares closed higher by 1.18% at $7.275 on Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

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BYND

JACK

Beyond Meat Faces Setback As Carl's Jr. And Del Taco Drop Products: Report

JD.com shares are trading lower after the company published interim Q1 results and announced a proposed offering of $1.5 billion convertible senior notes.

Needham analyst Laura Martin reiterates Nexxen International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEXN#NASDAQ">NEXN</a>) with a Buy and maintains $6.5 price target.

NEXN

Needham Reiterates Buy on Nexxen International, Maintains $6.5 Price Target

Larimar Therapeutics, Inc. - Common Stock

LRMR

Larimar Therapeutics shares are trading higher after the company announced that the FDA removed the partial clinical hold previously placed on the nomlabofusp clinical program.