PGIM Active High Yield Bond ETF (ARCA: PHYL)

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PGIM Active High Yield Bond ETF

Apple Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) <a href="https://www.benzinga.com/news/24/05/38673436/apple-launches-ipad-pro-with-m4-chip-oled-display-at-999-ipad-air-6-now-comes-in-two-sizes-for-the-f">latest iPad Pro</a>, with its thin design, has been the subject of discussion in the tech community since its unveiling by Tim Cook earlier in May. However, its thin profile has proved to be an issue despite Apple making improvements to its structural integrity.
What Happened: The new iPad Pro, which features a thin design, has been subjected to an extreme bend test by popular tech YouTubers JerryRigEverything and AppleTrack.
During the tests, the new iPad Pro showed an improvement in its durability during horizontal bend tests, suggesting it's safer than its predecessor despite a thinner profile.
However, the vertical bend test resulted in a "catastrophic failure" in Jerry's case, with the weak link being the USB charging port.
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AppleTrack, on the other hand, conducted the same bend test on both the M2 and M4 iPad Pro models, with the M4 model emerging almost unscathed. The M2 model, however, exhibited a clear bend near the camera corner.
It's worth noting that despite the results of these tests, the testers had to apply force far beyond what would be expected in everyday use to cause a permanent bend.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/05/38826439/at-google-io-2024-sundar-pichai-and-team-announces-new-gemini-models-project-astra-ai-fraud-protecti" target="_blank" rel="noreferrer noopener">At Google I/O 2024, Sundar Pichai And Team Announce New Gemini Models, Project Astra, AI Fraud Protection And More</a>
Why It Matters: It's not the first time Apple's iPad Pro has been the subject of criticism for its durability. The 2018 iPad Pro was involved in the "#BendGate" controversy due to its tendency to bend under normal use. Other devices like the <a href="https://www.benzinga.com/news/22/03/26232379/apples-latest-ipad-air-has-users-complaining-about-hollow-and-creaky-feeling-is-it-bendgate-2-0">2022 iPad Air</a> and the <a href="https://www.benzinga.com/top-stories/14/09/4876505/whats-causing-apple-inc-s-iphone-6-plus-to-bend">iPhone 6 Plus</a> were also prone to bending.
The latest generation of iPad Pro, including the M4 model, does not seem to exhibit the same issues, thanks to some important improvements to its structural profile.
However, it still has a major weak point when placed vertically or if the force is applied against the structure's axis.
The new iPad Pro, powered by the new M4 chip, was launched by Apple at the <a href="https://www.benzinga.com/news/24/05/38673436/apple-launches-ipad-pro-with-m4-chip-oled-display-at-999-ipad-air-6-now-comes-in-two-sizes-for-the-f">&#8220;Let Loose&#8221; event</a>. The company also unveiled the new generation of iPad Air, which comes in two screen sizes for the first time.
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Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/05/38836944/meet-jakub-pachocki-openais-new-chief-scientist-following-ilya-sutskevers-exit-sam-altman-calls-him">Meet Jakub Pachocki, OpenAI&#8217;s New Chief Scientist After Ilya Sutskever&#8217;s Exit: Sam Altman Hails Him As &#8216;One Of The Greatest Minds Of Our Generation&#8217;</a>
Photo courtesy: Apple

News

Tech

AAPL

Tim Cook Hyped 'Thinnest Apple Product Ever' At Recent iPad Event, But Cupertino's Newest Gadget Flunks Durability Test In 'Catastrophic Failure'

Truist Securities analyst Neal Dingmann upgrades Coterra Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTRA#NYSE">CTRA</a>) from Hold to Buy and raises the price target from $27 to $35.

Upgrades

Price Target

Analyst Ratings

CTRA

Truist Securities Upgrades Coterra Energy to Buy, Raises Price Target to $35

General

ARES

Ares Management, CDPQ, And Schroders Capital Announce €750M Financing For Expansion Of Vantage Data Centers' EMEA Platform, Ares And CDPQ Are Providing Up To €300M Respectively, And Schroders Capital Is Contributing Up To €150M

Truist Securities analyst Neal Dingmann downgrades Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) from Buy to Hold and lowers the price target from $84 to $69.

Downgrades

Truist Securities Downgrades Occidental Petroleum to Hold, Lowers Price Target to $69

The dividend is payable on June 28, 2024 to each stockholder of record on June 14, 2024.

Dividends

NOV Boosts Regular Quarterly Dividend By 50% From $0.05 To $0.075 Per Share

HC Wainwright &amp; Co. analyst Ed Arce reiterates Sagimet Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGMT#NASDAQ">SGMT</a>) with a Buy and maintains $32 price target.

Reiteration

SGMT

HC Wainwright & Co. Reiterates Buy on Sagimet Biosciences, Maintains $32 Price Target

Truist Securities analyst Neal Dingmann downgrades EOG Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) from Buy to Hold and lowers the price target from $163 to $136.

Truist Securities Downgrades EOG Resources to Hold, Lowers Price Target to $136

Keybanc analyst Jackson Ader maintains Monday.Com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDY#NASDAQ">MNDY</a>) with a Overweight and raises the price target from $275 to $280.

MNDY

Keybanc Maintains Overweight on Monday.Com, Raises Price Target to $280

B of A Securities analyst Joshua Shanker upgrades Trupanion (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRUP#NASDAQ">TRUP</a>) from Neutral to Buy and raises the price target from $35 to $49.

TRUP

B of A Securities Upgrades Trupanion to Buy, Raises Price Target to $49

HC Wainwright &amp; Co. analyst Swayampakula Ramakanth initiates coverage on Dianthus Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DNTH#NASDAQ">DNTH</a>) with a Buy rating and announces Price Target of $40.

Initiation

DNTH

HC Wainwright & Co. Initiates Coverage On Dianthus Therapeutics with Buy Rating, Announces Price Target of $40

ECVT

Ecovyst's Joint Venture Zeolyst International Announces Start-Up of New Laboratory Pyrolysis Reactor for Advanced Recycling of Plastic Waste

The shares represent&nbsp;20%&nbsp;of the outstanding shares of Corebridge at signing. Under the terms of the transaction, AIG has agreed to maintain a&nbsp;9.9%&nbsp;ownership stake in Corebridge for two years after the closing.
This sale is expected to close by the&nbsp;first quarter&nbsp;of 2025, subject to satisfaction of customary closing conditions, including required regulatory approvals.

Offerings

Asset Sales

CRBG

AIG Reaches Deal To Sell 120M Shares Of Its Corebridge Common Stock To Nippon Life Insurance For $31.47 Per Share, For Aggregate Purchase Price Of $3.8B

Through this engagement, enterprises will stand to benefit from Colt&#39;s SD WAN, SASE and Network-as-a-Service solutions combined with Infosys&#39;&nbsp;expertise in digital transformation offerings.&nbsp;

INFY

Colt Technology Enters Five-Year Strategic Collaboration With Infosys

WIIM

Deere & Co shares are trading lower after the company reported Q2 results and lowered its fiscal 2024 net income guidance.

Numerous companies, including e-commerce giant&nbsp;Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), are actively seeking to recruit former employees of Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) who&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38796493/teslas-fire-hire-musk-brings-back-some-laid-off-supercharger-team-employees" rel="noreferrer noopener">were recently laid off</a>&nbsp;amid the company&#8217;s global downsizing efforts.
What Happened: Evan Brannigan, Electric Vehicle Program Manager at Amazon Logistics, extended an invitation to former members of the Tesla Supercharger team. &#8220;Former Tesla Supercharger Team, if you have one year or more experience as a program manager or equivalent please look at joining my team,&#8221; he posted on LinkedIn on Wednesday.
Robin Swartout, VP of Commercialization at Gravity, <a href="https://www.benzinga.com/news/24/03/37632723/lucid-in-trademark-battle-with-tech-giant-backed-company-for-gravity-suv" target="_blank" rel="noreferrer noopener">a </a><a href="https://www.benzinga.com/news/24/03/37632723/lucid-in-trademark-battle-with-tech-giant-backed-company-for-gravity-suv" target="_blank" rel="noreferrer noopener">Google</a><a href="https://www.benzinga.com/news/24/03/37632723/lucid-in-trademark-battle-with-tech-giant-backed-company-for-gravity-suv" target="_blank" rel="noreferrer noopener"> Ventures-backed EV charging solutions provider</a>, described the layoffs within the supercharger division as &#8220;undeniable blow to our industry.&#8221; 
Swartout encouraged former colleagues from the Supercharger Team to connect, affirming their transformative contributions, and expressing&nbsp;confidence in their ability to excel in future endeavors.
Additionally,&nbsp;OWL Services, a fueling solutions provider, and&nbsp;CBRE&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBRE#NYSE">CBRE</a>), a Texas-based real estate company, have issued calls for former Tesla employees to join their EV infrastructure teams.&nbsp;
CBRE is specifically seeking candidates for various roles such as site developers, transaction managers, project management, and business development. Similarly, OWL Services aims to bolster its EV charging division with new hires.
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/everything-you-need-to-know-about-tesla-stock" rel="noreferrer noopener">Everything You Need to Know About Tesla Stock</a>
Fired Staff Move On: One affected individual,&nbsp;Joe Williams, formerly the Southeast Development Lead responsible for expanding Tesla&#8217;s EV charging infrastructure across eight states, recently announced via LinkedIn that he has joined&nbsp;EnviroSpark Energy Solutions&nbsp;as Senior Vice President of Business Development.
&#8220;There are a lot of talented individuals hitting the&nbsp;EV Charging job market at once,&nbsp;so I am hopeful that my&nbsp;unique experience on the Supercharger Team will land me in an exciting position where I can support the rollout of clean energy infrastructure,&#8221; former Tesla employee&nbsp;Mark Edwards&nbsp;said in a post.
Leo Rojas, another former Tesla charging employee, echoed this sentiment, believing that numerous organizations stand to benefit from the wealth of expertise within the supercharger team.
Why It Matters: Tesla&#8217;s decision to lay off approximately 500 employees from its Supercharging team as part of its global restructuring efforts has garnered significant attention. The&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38516190/elon-musk-cracks-whip-harder-2-more-senior-tesla-execs-reportedly-exit-as-ceo-demands-absolutely-har" rel="noreferrer noopener">departure of&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/04/38516190/elon-musk-cracks-whip-harder-2-more-senior-tesla-execs-reportedly-exit-as-ceo-demands-absolutely-har" rel="noreferrer noopener">Rebecca Tinucci</a>, Tesla&#8217;s Senior Director of Charging Infrastructure, has further underscored the significance of these developments. Reuters recently reported&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38846223/elon-musk-fired-supercharger-chief-rebecca-tinucci-and-her-entire-team-after-she-refused-to-lay-off" rel="noreferrer noopener">details of Tinucci&#8217;s departure</a>, citing her opposition to additional layoffs within her team after already reducing staff by 15-20%.
Despite these organizational changes, CEO Elon Musk affirmed Tesla&#8217;s commitment to expanding the Supercharger network, albeit at a reduced pace. Musk announced plans to&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38757383/elon-musk-announces-500m-investment-in-teslas-supercharger-network-expansion-in-2024" rel="noreferrer noopener">allocate over $500 million</a>&nbsp;toward the creation of thousands of new charging stations this year.
Read Next:&nbsp;<a href="https://www.benzinga.com/markets/asia/24/05/38837883/teslas-top-rival-byd-reveals-starting-price-of-hybrid-electric-pickup-in-mexico-launch-yes-its-a-lot" target="_blank" rel="noreferrer noopener">Tesla's Top Rival BYD Reveals Starting Price Of Hybrid Electric Pickup In Mexico Launch — Yes, It's A Lot Cheaper Than The Cybertruck</a>
Photo courtesy of Tesla

AMZN

CBRE

TSLA

Amazon, Google-Funded EV Startup And More Companies Scramble To Snag Tesla's Laid-Off Employees

RBC Capital analyst Logan Reich assumes Jack In The Box (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JACK#NASDAQ">JACK</a>) with a Outperform rating and announces Price Target of $75.

JACK

RBC Capital Assumes Jack In The Box at Outperform, Announces Price Target of $75

On Wednesday, May 16th, U.S. stock markets closed significantly higher, with major indexes reaching record highs. The S&amp;P 500 and Nasdaq each climbed over 1% following lower-than-expected consumer inflation, which fueled hopes for Federal Reserve rate cuts. Technology stocks led the gains, pushing the Dow closer to the 40,000 mark.
According to the economic data, April U.S. consumer prices rose 0.3% month-over-month, down from 0.4% in March and below market expectations of 0.4%. Annual inflation slowed to 3.4% from 3.5%. U.S. retail sales remained unchanged, following a revised 0.6% increase in March.
Among the S&amp;P 500&#8217;s 11 key industry sectors, most saw gains, with rate-sensitive technology stocks and real estate leading the way.
The Dow Jones Industrial Average was up 0.88% and closed at 39,908.00. The S&amp;P 500 gained 1.17% ending the day at 5,308.15 and the Nasdaq Composite rose 1.40%, finishing the session at 16,742.39.
Asia Markets Today
<ul>
<li>On Thursday Japan's Nikkei 225 gained 1.41% ending the session at 38,921.00, led by gains in the Manufacturing, Mining and Precision Instruments sectors.</li>
<li>Australia's S&amp;P/ASX 200 index closed higher by 1.65% at 7,881.30, led by gains in the A-REITs, IT and Consumer Discretionary sectors</li>
<li>India's Nifty 50 was up 0.91% at 22,402.10, and Nifty 500 was trading higher by 0.90% at 20,927.90.</li>
<li>China's Shanghai Composite was up 0.08% ending session at 3,122.40, and the Shenzhen CSI rose 0.39%, closing at 3,640.36.</li>
<li>Hong Kong's Hang Seng ended session higher by 1.59% at 19,376.53.</li>
<li>World stocks reached a record high and bond markets rallied on Thursday, driven by hopes of interest rate cuts in the U.S. and other major economies. </li>
</ul>
Eurozone at 05:45AM ET
<ul>
<li>The European STOXX 50 index was down 0.42%.</li>
<li>Germany's DAX declined 0.31%.</li>
<li>France's CAC fell 0.67%.</li>
<li>U.K.'s FTSE 100 traded lower by 0.34%.</li>
<li>European stock markets edged lower Thursday, bucking the global rally driven by U.S. inflation data, as investors reacted to disappointing earnings.</li>
</ul>
Commodities at 05:45AM ET
<ul>
<li>Crude Oil WTI was trading lower by 0.27% at $78.41/bbl, and Brent was down 0.29% at $82.50 bbl.</li>
<li>Natural Gas declined 0.91% to $2.394.</li>
<li>Gold was trading lower by 0.19% at $2,390.15, Silver rose 0.27% to $29.805, while Copper was increased 0.08% to $4.9287.</li>
</ul>
US Futures at 05:45AM ET&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
Dow futures were up 0.06%, S&amp;P 500 futures gained 0.07%, and Nasdaq 100 Futures rose 0.17%.
Forex at 05:45AM ET
The U.S. Dollar Index rose 0.05% to 104.39, USD/JPY was down 0.14% at 154.66, and USD/AUD gained 0.20% to 1.4070.
Photo: maoyunping via Shutterstock

Asia

Emerging Markets

Eurozone

Futures

Commodities

Forex

Markets

ADIV

AGOV

ASHR

BBEU

BOIL

CQQQ

PowerShares DBmmodity Index Optimum Yield Diversified Fund

EEMA

FLAX

CurrencyShares British Pound Sterling Trust

IEMG

IEUR

KraneShares Trust KraneShares S&P Pan Asia Dividend Aristocrats Index ETF

KDIV

SPEM

USDU

PowerShares DB US Dollar Index Bullish Fund

Asia Markets Advance While Europe Dips, Gold Closes In On $2,400 Again - Global Markets Today While US Slept

Earnings

TSX:ATS

ATS Q4 FY2024 EPS C$0.65 Beats C$0.57 Estimate, Sales C$791.50M Beat C$723.73M Estimate

Company Outlook&nbsp;&amp; Summary
Net income attributable to Deere &amp; Company for fiscal 2024 is forecasted to be approximately $7.0&nbsp;billion.
&ldquo;We are proactively managing our production and inventory levels to adapt to demand changes and position the business for the future,&rdquo; May explained. &ldquo;Despite market conditions, we are committed to our strategy and are actively investing in and deploying innovative technologies, products, and solutions to ensure our customers&#39; success.&rdquo;

Guidance

Deere Lowers 2024 Outlook, Now Expects Net Income Of ~$7B (Prior $7.50B - $7.75B)

Under the terms of the agreement, Beimei purchases and licenses rights to exclusively commercialize TWYNEO in these territories. In return, Sol-Gel will receive, subject to applicable government approvals, upfront and milestone payments of $10 million and up to $5 million as royalty payments on net sales.