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Pangea Natural Foods Inc engages in the production and sale of plant-based patties. Pangea manufactures the plant-based patties at the Facility in the Vancouver lower mainland and sells the patties through multiple distribution channels including online sales platforms and retailers. The Company currently has one reportable operating segment, the manufacturing and distribution of food products in Canada.

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Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is <a href="https://www.benzinga.com/news/24/05/38981319/jensen-huang-says-other-blackwells-coming-even-as-nvidia-gears-up-for-lot-of-blackwell-revenue-this">closing in on</a> Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) to become the world's second most valuable company by market capitalization, with the gap between the two companies narrowing down to a little over $250 billion.
What Happened: Nvidia's continued run has brought it within striking distance of Apple when it comes to market capitalization. Another surge of a little over 9% could bring it level with the iPhone maker.
The Apple stock has moved at a snail's pace compared to Nvidia – its shares have gained 3.6% in the first five months of 2024. On the other hand, Nvidia's surge has been rapid and sustained – it has made its investors richer by over 127%, more than doubling their wealth in the last five months.
As of market close on Friday, Nvidia's market capitalization stood at $2.69 trillion, while Apple's stood at $2.94 trillion.
At the beginning of 2024, Nvidia's market capitalization was $1.18 trillion while Apple's stood at $2.84 trillion.
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Assuming that Apple's shares remain unchanged, Nvidia's share price would have to touch $1,198 for the Jensen Huang-led company to become the second most valuable company in the world.
Here's how a $1,000 investment in Nvidia and Apple stocks at the beginning of 2024 would have fared:
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="650" height="450" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/31235421/Nvidia-Apple-1000.jpg" alt="" class="wp-image-366375" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/31235421/Nvidia-Apple-1000.jpg 650w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/31235421/Nvidia-Apple-1000-300x208.jpg 300w" sizes="(max-width: 650px) 100vw, 650px" /><figcaption class="wp-element-caption">Growth of a $1,000 investment in Nvidia and Apple, respectively, from Jan. 1, 2024, to May 31, 2024</figcaption></figure>
A $1,000 investment in Nvidia stock would now be worth $2,275, while a similar investment in Apple would be worth $1,036.
See Also: <a href="https://www.benzinga.com/news/24/05/39109720/apple-set-to-announce-new-ai-features-at-wwdc-but-you-might-need-at-least-this-iphone-to-use-them-sa">Apple Set To Announce New AI Features At WWDC, But You Might Need At Least This iPhone To Use Them, Says Report</a>
<h3 class="wp-block-heading">Is Apple Falling Behind?</h3>
As far as Apple is concerned, 2024 has been a less-than-stellar year so far for the company in the stock market. It ceded the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/19/10/14589580/apple-microsoft-battle-for-position-as-worlds-most-valuable-company-by-market-cap">top position to Microsoft </a>earlier this year, and it could soon drop to the third place if Nvidia maintains its momentum.
Increasing <a href="https://www.benzinga.com/government/24/03/37941515/apples-iphone-sales-faces-sharp-decline-in-china-amid-rising-competition">competition in China </a>and the lack of a significant AI strategy for its iPhones and other products has played a role in Apple stock's subdued performance. It has fared worse than the Nasdaq Composite, which has surged by over 13% in 2024 so far.
<h3 class="wp-block-heading">What Are The Analysts Saying</h3>
Coupled with Nvidia going from strength to strength and <a href="https://www.benzinga.com/news/earnings/24/05/38974130/nvidia-reports-beat-and-raise-q1-announces-150-dividend-hike-10-for-1-stock-split">blowing past</a> analyst expectations with its Q1 results, chances are it could go past Apple.
According to the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38993253/nvidia-marching-toward-a-three-trillion-market-cap-11-analysts-size-up-q1-results-a">analysts at Morgan Stanley</a>, Nvidia &#8220;shows no sign of slowing down" and that its "growth remains very strong through product transition."
For CNBC's "Mad Money" host Jim Cramer, though, the question is not whether Nvidia will surpass Apple – <a href="https://www.benzinga.com/news/24/05/39086351/nvidia-could-surpass-microsoft-in-market-value-says-jim-cramer-heres-why">he thinks</a> the semiconductor designer can surpass Microsoft, too. "Nvidia's potential is immense, and its products are increasingly becoming integral to the tech infrastructure, making it a company that could redefine the future of technology."
Nvidia's rapid rise might have some people concerned about the <a href="https://www.benzinga.com/24/05/38997534/nvidias-market-dominance-seems-bubbly-says-renowned-wall-street-investor-rob-arnott">valuations being "bubbly,"</a> but fund manager Louis Navellier <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/39057247/fund-manager-weighs-in-on-ai-lead-horse-nvidias-heady-valuation-hard-to-call-it-a-b">thinks otherwise</a>.
Rosenblatt analyst Hans Mosesmann has set a <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/05/39036094/this-analyst-with-88-accuracy-rate-sees-around-31-upside-in-nvidia-here-are-5-stock-pick">target price of $1,400</a> for Nvidia stock, pointing at an upside of nearly 28% from the current price.
Besides, Huang doesn't seem to be in <a href="https://www.benzinga.com/news/24/05/38916796/why-nvidias-jensen-huang-wont-slow-down-everything-else-next-to-it-is-undesirable-says-ceo-of-2-tril">any mood to slow down</a> – he thinks "everything else next to it is undesirable," when asked what drives him to do his job as Nvidia's CEO.
However, not everyone is convinced about Nvidia beating Apple – <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/39077003/apple-stock-will-outperform-nvidia-over-the-next-year-says-gene-munster-investors-a">Gene Munster </a><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/39077003/apple-stock-will-outperform-nvidia-over-the-next-year-says-gene-munster-investors-a">thinks</a> investors are "largely in denial" about the iPhone maker's AI play, ahead of its <a href="https://www.benzinga.com/news/24/05/39109720/apple-set-to-announce-new-ai-features-at-wwdc-but-you-might-need-at-least-this-iphone-to-use-them-sa">expected announcements</a> at the upcoming WWDC. He says the Apple stock will outperform Nvidia over the next year.
Price Action: Nvidia's stock closed 0.78% lower at $1,096.33, while Apple's shares rose 0.50% to close at $192.25 on Friday, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Check out more of&nbsp;Benzinga&#8217;s&nbsp;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:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/39065997/apples-adoption-of-ai-for-iphones-will-drive-multi-year-upgrade-cycle-say-analysts-" target="_blank" rel="noreferrer noopener">Apple&#8217;s Adoption Of AI For iPhones Will Drive ‘Multi-Year Upgrade Cycle,&#8217; Say Analysts Ahead Of WWDC</a>
Photos courtesy: Shutterstock and Flickr

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AAPL

NVDA

Nvidia's Meteoric Rise Brings It Within Striking Distance Of Apple's Market Value: Will Jensen Huang-Led Chip Giant Become World's Second Most Valuable Company?

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shareholder Michael Perry on Thursday <a href="https://www.benzinga.com/news/24/03/37551554/tesla-owners-who-claimed-elon-musks-ev-company-misrepresented-vehicle-range-lose-bid-for-class-actio">filed a lawsuit</a> against Elon Musk alleging insider trading when the CEO sold shares worth over $7.5 billion in the last two months of 2022.
What Happened: The lawsuit, filed by Perry in the Delaware Chancery Court, claims that Musk sold a total of over $7.5 billion worth of Tesla shares in late 2022 before the disclosure of disappointing fourth-quarter production and delivery numbers. Perry alleges that Musk, using his access to real-time data, was aware of the lower-than-expected numbers when he sold shares worth $3.95 billion in November 2022 and shares worth $3.58 billion in December 2022. 
Tesla publicly unveiled delivery numbers on Jan. 2, 2023, and Tesla&#8217;s stock fell to $108.10 on Jan. 3, down from the $123.18 it closed at on Dec. 30, the lawsuit noted, pegging Musk&#8217;s &#8220;insider profits&#8221; for the aforementioned share sales at about $3 billion.
&#8220;Musk profited from his misconduct and his exploitation of material and adverse inside information,&#8221; the lawsuit said. 
&#8220;Had he waited to make these sales until after the release of material adverse news regarding TSLA discounts, sales, orders, and deliveries on Jan. 2, 2023, his sales would have netted him less than 55% of the amounts realized from his November and December 2022 sales.&#8221;
The lawsuit also accused then-Tesla directors of breach of fiduciary duty of loyalty for allowing Musk&#8217;s sales and is seeking a directive from the court that all profits obtained from these share sales be returned. 
Why It Matters: The lawsuit is the latest of legal hurdles for the EV giant.
Earlier this year, a Delaware court rescinded Musk&#8217;s 2018 pay package, worth $56 billion at the time of award, terming it an &#8220;unfathomable sum.&#8221; Tesla's board is trying to <a href="https://www.benzinga.com/news/24/05/39104486/another-proxy-advisory-firm-advises-against-voting-for-tesla-ceo-musks-excessive-pay-but-backs-texas">have it reinstated by a shareholder vote</a> yet again in June. The company is also attempting to move Tesla&#8217;s state of incorporation from Delaware to Texas and is currently waiting on the results of a shareholder vote on the proposal, expected to be announced on June 13. 
Musk is also being probed by the Securities and Exchanges Commission <a href="https://www.benzinga.com/government/24/05/39090563/elon-musk-to-testify-in-sec-probe-of-twitter-acquisition-billionaire-to-provide-investigative-testim">for potential federal securities law violations</a> during his acquisition of Twitter, now called X. 
Tesla did not immediately respond to Benzinga&#8216;s request for comment on the new lawsuit against its CEO. 
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:&nbsp;<a href="https://www.benzinga.com/news/24/05/39123548/teslas-humanoid-bot-optimus-guides-shareholders-on-voting-process-ahead-of-key-june-meeting">Tesla&#8217;s Humanoid Bot Optimus Guides Shareholders On Voting Process Ahead Of Key June Meeting</a>
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Legal

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TSLA

Elon Musk Faces $7.5B Insider Trading Allegation From Tesla Shareholder

Israeli Prime Minister&nbsp;Benjamin Netanyahu&nbsp;has been formally invited to address the U.S. Congress by bipartisan leaders. This development came shortly after the International Court of Justice ordered <a href="https://www.benzinga.com/markets/asia/24/05/39008688/international-court-of-justice-mandates-israel-halt-operations-in-rafah-why-it-matters">Israel to halt its military operations</a> in Rafah, a city in Southern Gaza, with immediate effect.
What Happened: The invitation was extended by Speaker&nbsp;Mike Johnson&nbsp;(R-La.) on Friday, and it was co-signed by Senate Majority Leader&nbsp;Chuck Schumer&nbsp;(D-N.Y.), Senate Minority Leader&nbsp;Mitch McConnell&nbsp;(R-Ky.), and House Minority Leader&nbsp;Hakeem Jeffries&nbsp;(D-N.Y.),&nbsp;<a href="https://thehill.com/homenews/house/4697023-benjamin-netanyahu-israel-hamas-gaza-congress-mike-johnson-chuck-schumer-hakeem-jeffries-mitch-mcconnell/">reported</a>&nbsp;The Hill, citing the letter. 
The letter expressed solidarity with Israel in its <a href="https://www.benzinga.com/news/24/05/39025022/israel-claims-it-took-out-2-hamas-leaders-in-rafah-airstrikes-that-killed-35-palestinians">fight against terrorism</a>, particularly Hamas. &#8220;We join the State of Israel in your struggle against terror, especially as Hamas continues to hold American and Israeli citizens captive and its leaders jeopardize regional stability.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/05/39078114/hes-nerved-up-trumps-former-aide-scaramucci-says-ex-president-may-end-up-blowing-the-game-in-hush-mo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;He&#8217;s Nerved Up:&#8217; Trump&#8217;s Former Aide Scaramucci Says Ex-President May &#8216;End Up Blowing The Game&#8217; In Hush-Money Trial By Guiding Legal Team Like An &#8216;NFL Football Owner&#8217;</a>
&#8220;For this reason, on behalf of the bipartisan leadership of the United States House of Representatives and the United States Senate, we would like to invite you to address a Joint Meeting of Congress,&#8221; the letter stated. 
The&nbsp;address is expected to take&nbsp;place within&nbsp;the next eight weeks or&nbsp;soon after the August recess, the report noted, citing a source familiar with the development. This would be Netanyahu&#8217;s fourth address to&nbsp;a joint meeting of Congress,&nbsp;following speeches in 2015, 2011, and 1996.
Why It Matters: Netanyahu&#8217;s visit to the Capitol is expected to spark further controversy, with some progressive members of Congress indicating that they may boycott the event. This follows the recent filing of&nbsp;arrest warrants for Netanyahu and&nbsp;other Israeli and Hamas leaders by&nbsp;a prosecutor with the International&nbsp;Criminal Court, <a href="https://www.benzinga.com/news/24/05/39034096/former-mossad-boss-allegedly-threatened-icc-prosecutor-to-drop-war-crimes-inquiry-against-israel-rep">alleging them of war crimes</a>.
Earlier this month, reports emerged President Joe Biden had cautioned that <a href="https://www.benzinga.com/news/24/05/38752576/israeli-prime-minister-netanyahu-vows-to-fight-with-our-fingernails-against-hamas-after-biden-threat">the U.S. would withhold bombs</a> and artillery shells if the Israel Defense Forces initiated a major offensive on Rafah. Despite this warning, Netanyahu stated, &#8220;If we have to stand alone, we will stand alone. If we need to, we will fight with our fingernails.&#8221;
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/05/39102594/biden-says-only-one-way-to-keep-donald-trump-out-of-oval-office-moves-to-raise-funds-after-ex-presid?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Biden Says &#8216;Only One Way To Keep Donald Trump Out Of Oval Office&#8217; —Moves To Raise Funds After Ex-President Found Guilty</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Ververidis Vasilis on Shutterstock

Politics

Global

Media

Israel's Benjamin Netanyahu Invited To Address Congress By Bipartisan Leaders Amid ICC War Crimes Allegations

A recent poll has revealed that a notable percentage of Republican voters are now less likely to cast their ballots for former President Donald Trump in the upcoming presidential election, following his <a href="https://www.benzinga.com/general/politics/24/05/39100065/trump-found-guilty-on-all-34-counts-in-hush-money-criminal-trial-heres-what-happens-next">conviction for a felony</a>.
What Happened: A Reuters/Ipsos poll, which concluded on Friday, found that 10% of registered Republican voters are now less inclined to vote for Trump. This comes in the wake of his conviction by a Manhattan jury for falsifying business records to conceal a hush money payment to an adult star.
On the other hand, 56% of Republican voters stated that the conviction would not impact their voting decision, while 35% indicated that they are now more likely to support Trump, who has vehemently denied the charges against him and has pledged to appeal.
See Also: <a href="https://www.benzinga.com/general/politics/24/05/39100065/trump-found-guilty-on-all-34-counts-in-hush-money-criminal-trial-heres-what-happens-next?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Found Guilty On All 34 Counts In Hush Money Criminal Trial: Here&#8217;s What Happens Next</a>
Among independent voters, 25% said they are now less likely to support Trump, 18% said they are more likely, and 56% said the conviction would have no bearing on their decision.
Despite the increase in support from over a third of Republican voters, the potential loss of a tenth of his party&#8217;s voters could be significant for Trump, given the narrow margins of U.S. presidential elections.
Why It Matters: The poll results indicate a potential shift in the political landscape, with the upcoming election being impacted by Trump&#8217;s conviction. The former president&#8217;s legal troubles have also had a significant impact on the betting odds for the <a href="https://www.benzinga.com/general/sports-betting/24/05/39123057/exclusive-trumps-guilty-verdict-sparks-brief-overreaction-in-2024-election-betting-odds-bu">2024 election</a>, although he remains the favorite to win.
Meanwhile, President Joe Biden has <a href="https://www.benzinga.com/general/politics/24/05/39118909/biden-says-trumps-guilty-verdict-shows-no-one-is-above-the-law-donald-trump-was-given-every-oppo">emphasized</a> that Trump&#8217;s conviction demonstrates that no one is above the law. The outcome of Trump&#8217;s legal battles, including the pending trials for electoral fraud and mishandling classified documents, could have a significant impact on the upcoming election.
Read Next: <a href="https://www.benzinga.com/general/politics/24/05/39096324/biden-brushes-off-age-question-finishing-2nd-presidential-term-did-you-fall-on-your-head-or-some">Biden Brushes Off Age Question, Finishing 2nd Presidential Term: &#8216;Did You Fall On Your Head Or Something?&#8217;</a>
Photo generated using Midjourney

10% Of Republicans Less Likely To Vote For Trump In Presidential Elections After Felony Conviction: Poll

EV giant Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) on Friday released a step-by-step guide for shareholders to vote ahead of the company&#8217;s upcoming meeting in June.
What Happened: Tesla used its <a href="https://www.benzinga.com/news/24/04/38395385/elon-musk-says-tesla-optimus-humanoid-robot-might-be-available-externally-by-the-end-of-next-year-he">humanoid bot, Optimus, </a>to demonstrate the voting process for shareholders on Elon Musk-owned social media platform X. Shareholders were shown how to vote online, by QR code, phone, or mail.
The guide also lists the proposals recommended by the Tesla board to vote for and those the board suggests that shareholders vote against. The board is pushing strongly for the reinstatement of CEO Elon Musk&#8216;s 2018 pay package.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://t.co/VjbtvyoCvG">https://t.co/VjbtvyoCvG</a>
&mdash; Tesla (@Tesla) <a href="https://twitter.com/Tesla/status/1796549728462688477?ref_src=twsrc%5Etfw">May 31, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Updates On Optimus: During Tesla&#8217;s first-quarter earnings call in April, Musk said that he anticipated Optimus&#8217; limited production to begin by the end of 2024, with external sales potentially starting by the end of 2025.
"I think Optimus will be&nbsp;more valuable than everything else&nbsp;combined. Because if you've got&nbsp;a sentient humanoid robots that&nbsp;is able to navigate reality&nbsp;and do tasks at request, there is no meaningful limit&nbsp;to the size of the&nbsp;economy,&#8221; he added. 
Earlier this year, Musk confirmed to an X user that the Optimus will be priced between $25,000 and $30,000 initially and less as time passes. The CEO explained that making the Optimus costs the company only half as much as making a car. 
Why It Matters:&nbsp;Shareholders will vote on moving Tesla&#8217;s state of incorporation from Delaware to Texas and&nbsp;Musk&#8217;s rescinded 2018 pay package ahead of the upcoming meeting.
The&nbsp;pay package, worth $56 billion at the time of award, was rescinded by a Delaware court earlier this year after deeming it an "unfathomable sum." Tesla&#8217;s board is trying to have it reinstated by a shareholder vote yet again in June, including by&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38814489/tesla-spends-on-musks-pay-vote-ads-but-ross-gerber-feels-ev-giant-could-advertise-w" target="_blank" rel="noreferrer noopener">investing in advertisements</a>&nbsp;to the effect.
In a note earlier this month,&nbsp;Morgan Stanley&nbsp;analyst&nbsp;Adam Jonas&nbsp;said that the upcoming meeting will drive material volatility in the stock and determine the&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38774504/tesla-analyst-sees-annual-shareholder-meeting-as-key-to-determining-elon-musk-led-c" target="_blank" rel="noreferrer noopener">company's long-term strategic direction</a>.
Price Action:&nbsp;Tesla shares closed down 0.4% on Friday at $178.1 and dropped 0.3% after hours. The stock is down by nearly 28.3% year-to-date, according to data from&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Benzinga Pro.</a>
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More: <a href="https://www.benzinga.com/government/24/05/39106633/breaking-tesla-recalls-over-125-000-cars-to-fix-faulty-seat-belt-warnings">Tesla Recalls Over 125,000 EVs To Fix Faulty Seat Belt Warnings: Which Models Are Affected?&nbsp;</a>
Photo courtesy: Shutterstock

Tesla's Humanoid Bot Optimus Guides Shareholders On Voting Process Ahead Of Key June Meeting

&nbsp;Separate &amp; Distinct from HARMONi-2 Announcement, HARMONi-A Showed Clinically Meaningful and Statistically Significant Benefit: PFS Hazard Ratio of 0.46
For Subset of Patients Previously Receiving 3rd Generation EGFR-TKI: PFS Hazard Ratio of 0.48
5.6% Treatment Discontinuation of Ivonescimab due to Adverse Events vs. 2.5% Treatment Discontinuation of Placebo
HARMONi-A was Featured in Oral Presentation at ASCO 2024 on May 31, 2024
Conference Call to be Held at 8:00am ET on Monday, June 3, 2024
Summit Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMMT#NASDAQ">SMMT</a>) ("Summit," "we," or the "Company") announced that, on May 24, 2024, our partner, Akeso Inc. (Akeso, HKEX Code: 9926.HK), received marketing authorization in China from the National Medical Products Administration (NMPA). The approval is based on the positive dataset associated with HARMONi-A, a single region, multi-center, Phase III study conducted in China sponsored by Akeso with data generated and analyzed by Akeso.
HARMONi-A evaluated ivonescimab combined with platinum-doublet chemotherapy in patients with epidermal growth factor receptor (EGFR)-mutated, locally advanced or metastatic non-squamous non-small cell lung cancer (NSCLC) who have progressed after treatment with an EGFR tyrosine kinase inhibitor (TKI) against placebo plus platinum-doublet chemotherapy. This is a clinical setting with a patient population where PD-1 monoclonal antibodies have previously been unsuccessful in Phase III global clinical trials. The Phase III HARMONi-A study provides further evidence supporting the differentiated mechanism of action of ivonescimab, a PD-1 / VEGF bispecific antibody evidencing cooperative binding characteristics.
This data and trial are separate and distinct from the Phase III HARMONi-2 trial in locally advanced or metastatic NSCLC whose tumors have positive PD-L1 expression (PD-L1 TPS &gt;1%), which was covered in a separate announcement. For clarity, the data in this release is with respect to the HARMONi-A trial.
Clinically Meaningful Efficacy
Progression free survival (PFS), the primary endpoint of the study, was significantly improved in the ivonescimab plus chemotherapy arm (HR 0.46; 95% CI: 0.34 – 0.62; p&lt;0.001), representing a 54% reduction in the risk of disease progression compared to chemotherapy. Median PFS for ivonescimab plus chemotherapy was 7.1 months (95% CI: 5.9 – 8.7), as compared to 4.8 months (95% CI: 4.2 – 5.6) for placebo plus chemotherapy. In addition, for the subgroup of patients receiving a 3rd generation TKI (e.g., osimertinib or other locally approved 3rd generation TKIs), patients experienced a reduced risk of disease progression of 52% (HR: 0.48; 95% CI: 0.35 – 0.66). The PFS benefit was demonstrated across all clinical subgroups.
While not yet mature, overall survival (OS) analyses performed on request of the NMPA trended positively for ivonescimab plus chemotherapy vs. chemotherapy alone: after 10.2 months of median follow-up, the hazard ratio (HR) was 0.72 (95% CI: 0.48 – 1.09). An additional analysis performed after approximately 17.6 months of median follow-up showed a hazard ratio of 0.80 (95% CI: 0.59 – 1.08). Both overall survival curves appear to demonstrate clear separation between the two arms of the trial and show a trend in improvement of survival towards ivonescimab plus chemotherapy.
Overall response rate (ORR) was 50.6% (95% CI: 42.6% – 58.6%) for those receiving ivonescimab plus chemotherapy vs. 35.4% (95% CI: 28.0% - 43.3%) for those receiving chemotherapy alone. Ivonescimab plus chemotherapy usage resulted in a disease control rate (DCR) – those who either responded or were considered to have stable disease under RECIST 1.1 criteria – of 93.1% (95% CI: 88.0% - 96.5%) vs. 83.2% (95% CI: 76.5% - 88.6%) for those receiving placebo plus chemotherapy.

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SMMT

Summit Therapeutics Ivonescimab In Combination with Chemotherapy Approved In China By NMPA For 2L+ EGFRm NSCLC Based On HARMONi-A Clinical Trial; Clinically Meaningful Efficacy Observed In Overall Survival Towards Ivonescimab Plus Chemotherapy; Shares Currently Halted

Ivanka Trump, the eldest daughter of former President Donald Trump, finally broke her silence following her <a href="https://www.benzinga.com/general/politics/24/05/39100065/trump-found-guilty-on-all-34-counts-in-hush-money-criminal-trial-heres-what-happens-next">father&#8217;s guilty verdict</a>.
What Happened: On Thursday, Ivanka Trump publicly acknowledged her father for the first time since he was found guilty by sharing a throwback photo of herself as a toddler with her father. In an Instagram Story, she wrote &#8220;I love you dad,&#8221; along with the photograph.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">.<a href="https://twitter.com/IvankaTrump?ref_src=twsrc%5Etfw">@IvankaTrump</a> posted this on her Instagram story. &#x1f494; <a href="https://t.co/AXSsTW7CKa">pic.twitter.com/AXSsTW7CKa</a>
&mdash; Laura Loomer (@LauraLoomer) <a href="https://twitter.com/LauraLoomer/status/1796498359571894448?ref_src=twsrc%5Etfw">May 31, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/05/39102594/biden-says-only-one-way-to-keep-donald-trump-out-of-oval-office-moves-to-raise-funds-after-ex-presid?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Biden Says &#8216;Only One Way To Keep Donald Trump Out Of Oval Office&#8217; —Moves To Raise Funds After Ex-President Found Guilty</a>
Her post came shortly after Donald Trump was found guilty of all&nbsp;34 counts in his <a href="https://www.benzinga.com/general/politics/24/05/39043449/trump-guilty-or-not-guilty-hush-money-trial-verdict-not-so-simple-5-possible-outcomes">hush&nbsp;money criminal case</a>, making him&nbsp;the first former president to&nbsp;be convicted of a felony.
Ivanka Trump, who served as her father&#8217;s&nbsp;senior adviser in the White&nbsp;House, has maintained a&nbsp;low profile since her father departed from&nbsp;the White House. In 2022,&nbsp;she announced that she would not be involved in politics, choosing to prioritize her family.
Meanwhile, her brother,&nbsp;Donald Trump Jr.,&nbsp;had a different reaction to&nbsp;their father&#8217;s guilty verdict. He took to X, formerly Twitter, and expressed disbelief&nbsp;saying, &#8220;Such bulls&#x2A;&#x2A;&#x2A;.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Such bullshit.
&mdash; Donald Trump Jr. (@DonaldJTrumpJr) <a href="https://twitter.com/DonaldJTrumpJr/status/1796287916924395752?ref_src=twsrc%5Etfw">May 30, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: The guilty verdict of the former president has sparked a range of reactions. President Joe Biden has stated that the verdict demonstrates that no one is above the law, while Donald Trump claimed the <a href="https://www.benzinga.com/general/politics/24/05/39114212/hush-money-trial-done-by-biden-and-his-people-trump-says-without-proof-it-was-a-rigged-trial">trial was rigged</a> without providing evidence.
Despite the guilty verdict, Trump remains the favorite to be the next president, according to&nbsp;<a href="https://www.benzinga.com/general/sports-betting/24/05/39123057/exclusive-trumps-guilty-verdict-sparks-brief-overreaction-in-2024-election-betting-odds-bu">election betting odds</a>. &#8220;Despite being found guilty of 34 charges in his New York hush money trial, Trump remains the favorite to be the next president at -110,&#8221; Covers&#8217; Betting Analyst&nbsp;Rohit Ponnaiya&nbsp;told Benzinga.
The possibility of <a href="https://www.benzinga.com/news/24/05/39102374/jail-time-for-trump-alvin-bragg-refuses-to-say-if-prosecutors-will-pursue-the-option-i-did-my-job">Donald Trump&#8217;s serving jail time</a> also remains uncertain, as Manhattan District Attorney Alvin Bragg has not confirmed whether prosecutors will pursue this option.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/05/39077471/robert-kennedy-jr-says-ukraine-escalation-getting-out-of-control-after-russian-nuclear-early-warning?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Robert Kennedy Jr. Says Ukraine Escalation &#8216;Getting Out Of Control&#8217; After Russian Nuclear Early Warning Systems Targeted — Slams Biden For Not Talking To Russian President: Is He Worse Than Stalin?</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock.

Ivanka Trump Breaks Silence After Ex-President's Guilty Verdict In Hush Money Case: 'I Love You Dad'

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Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

Former President Donald Trump remains the betting favorite to win the 2024 election, even after being found guilty on<a href="https://www.benzinga.com/general/politics/24/05/39100065/trump-found-guilty-on-all-34-counts-in-hush-money-criminal-trial-heres-what-happens-next"> 34 federal charges.</a>
Here are the latest betting odds and how the verdict saw the market quickly overreact.
What Happened: On Thursday, Trump <a href="https://www.benzinga.com/general/politics/24/05/39114212/hush-money-trial-done-by-biden-and-his-people-trump-says-without-proof-it-was-a-rigged-trial">was found guilty</a> on 34 charges of falsifying business records. The former president awaits sentencing on July 11 and could face prison time.
If Trump is sent to prison he will <a href="https://www.benzinga.com/news/23/07/33446444/donald-trump-will-still-run-for-president-if-convicted-and-right-now-thats-perfectly-legal">still be able </a>to run for president in the 2024 election.
Trump remains the betting favorite to win the 2024 presidential election at Bet365, as <a href="https://www.covers.com/politics/us-election-betting-odds">reported </a>by Covers.
"Despite being found guilty of 34 charges in his New York hush money trial, Trump remains the favorite to be the next president at -110," Covers' Betting Analyst Rohit Ponnaiya told Benzinga.
Ponnaiya told Benzinga that the verdict saw a quick swing in the betting odds.
"Some of the best betting value in political odds comes from watching how the market overreacts to breaking news, and as the verdict came in yesterday we saw the perfect example of that."
After Trump's guilty verdict, Trump dropped from being a -125 favorite to second place at +120. President Joe Biden shifted from second place at +137 to the favorite at -110.
"However, those odds have since stabilized and Trump is back to being the favorite albeit at a slightly lower price at -110."
Ponnaiya said that Trump being found guilty in additional trials could play out the same overreaction scenario if the trials are held before the 2024 election.
Here's a look at the current betting odds for the 2024 presidential election at Bet365 with the betting<a href="https://www.benzinga.com/general/sports-betting/24/04/38417836/trump-and-biden-get-ready-2024-election-betting-odds-point-to-major-showdown"> odds from April</a> in parentheses:
<ul>
<li>Donald Trump: -110 (+110)</li>
<li>Joe Biden: +130 (+110)</li>
<li>Michelle Obama: +1,400 (+1,600)</li>
<li>Robert F. Kennedy Jr.: +2,500 (+1,600)</li>
<li>Gavin Newsom: +4,000 (+2,800)</li>
<li>Kamala Harris: +4,000 (+3,300)</li>
</ul>
Trump has topped the betting odds for several months in the race for the 2024 presidential election. Back in August 2023, Biden was the favorite to win re-election.
Going back to Biden's inauguration in January 2021, it was current Vice President&nbsp;Kamala Harris&nbsp;who was the favorite to win the 2024 election with odds of +350, based on the plan that Biden would not run for re-election. Biden and Trump trailed Harris at the time at odds of +400 and +650, respectively.
When Biden declared his candidacy for reelection, he emerged as the betting favorite, as many anticipated that a tight race between DeSantis and Trump for the Republican nomination would weaken one of them.
Related Link: <a href="https://www.benzinga.com/general/politics/24/05/39118909/biden-says-trumps-guilty-verdict-shows-no-one-is-above-the-law-donald-trump-was-given-every-oppo">Biden Says Trump&#8217;s Guilty Verdict Shows &#8216;No One Is Above The Law&#8217;: &#8216;Donald Trump Was Given Every Opportunity To Defend Himself&#8217;</a>
Why It's Important: U.S. resident can't actively bet with online sportsbooks on who the next president will be. Sportsbooks such as DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>) offer betting on politics for residents of Canada. Foreign sportsbooks in Europe and other markets may also offer betting on the 2024 election.
DraftKings CEO&nbsp;Jason Robins&nbsp;<a href="https://www.benzinga.com/general/sports-betting/23/05/32244769/exclusive-draftkings-benefits-from-non-nfl-sports-growth-eyes-horse-racing-and-election-be" target="_blank" rel="noreferrer noopener">told Benzinga previously</a>&nbsp;he hoped someday political betting on big races such as president will be allowed in the U.S.
Prediction markets have also seen a surge in election-themed markets, including those available at Polymarket.
Polymarket, which calls itself "the world's largest prediction market," offers betting on several political outcomes, including the overall 2024 presidential election.
On <a href="https://polymarket.com/event/presidential-election-winner-2024?tid=1717187661544">Polymarket</a>, users can deposit funds using USDC (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>) via the Polygon network (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/matic/usd">MATIC</a>), or directly from a crypto account with Ethereum (CRYPOT:ETH). In each betting market, the winning option pays out at $1.
Over $144 million has been wagered on the outcome of the 2024 presidential election on Polymarket. Here are the current projected odds on Polymarket, with <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38948497/trump-leads-biden-by-15-points-in-2024-presidential-election-crypto-prediction-market">odds from May 21</a> in parentheses.
<ul>
<li>Donald Trump: 55% (55%)</li>
<li>Joe Biden: 39% (40%)</li>
<li>Michelle Obama: 3% (3%)</li>
<li>Robert F. Kennedy Jr.: 2% (2%)</li>
<li>Kamala Harris: 1% (1%)</li>
</ul>
Biden previously led Trump 44% to 43% on Polymarket, but the former president's odds have increased significantly in recent months.
A separate prediction market on Polymarket <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/39067327/trump-guilty-verdict-in-hush-money-trial-76-chance-say-crypto-bettors-on-prediction-market">saw 76% of bettors</a> say that Trump would be found guilty in the hush money trial.
The guilty verdict against Trump will be appealed by the former president. Currently, this verdict is having minimal impact on the betting odds for the 2024 election.
Read Next: <a href="https://www.benzinga.com/general/politics/24/05/38976120/trump-vs-biden-one-candidate-gains-in-2024-election-poll-of-swing-state-voters-who-is-hurt-the-m">Trump Vs. Biden: One Candidate Gains In 2024 Election Poll Of Swing State Voters; Who Is Hurt The Most By Kennedy Jr.?</a>
Photo: Shutterstock

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Exclusives

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DKNG

EXCLUSIVE: Trump's Guilty Verdict Sparks Brief Overreaction In 2024 Election Betting Odds, But He 'Remains The Favorite To Be The Next President'

Dreaming of a day when counting cents is history? Well, not everyone's tossing their budget sheets once they hit the jackpot. Even with bank accounts that could rival a small country&#8217;s GDP, some celebrities stick to their penny-pinching ways. Let's dive into the surprisingly frugal lives of five very well-known stars who keep it real with their dollars.
<h3 class="wp-block-heading">1. Lady Gaga</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30010140/lady-gaga-1024x576.jpg" alt="Despite being one of the world's top-selling artists, Lady Gaga still hunts down bargains and snips coupons like a pro. Image: Doug Hyun/ FX" class="wp-image-362221" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30010140/lady-gaga-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30010140/lady-gaga-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30010140/lady-gaga-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30010140/lady-gaga.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Despite being one of the world&#8217;s top-selling artists, Lady Gaga still hunts down bargains and snips coupons like a pro. Image: Doug Hyun/ FX</figcaption></figure>
Lady Gaga doesn't just belt out hits, she's also a pro at hunting down deals too. Despite raking in millions, this Grammy and Oscar winner loves a good sale and doesn't shy away from using coupons. When she's not cutting costs, Gaga pours her heart into philanthropy, running the Born This Way Foundation and advocating for mental health and LGBTQ+ rights.
<h3 class="wp-block-heading">2. Rob Gronkowski</h3>
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30010819/rob-gronkowski-1024x576.jpg" alt="Football player Rob Gronkowski lives only off the money he makes from endorsements. Image: Flickr/ U.S. Army Sgt. James K. McCann" class="wp-image-362229" style="width:920px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30010819/rob-gronkowski-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30010819/rob-gronkowski-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30010819/rob-gronkowski-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30010819/rob-gronkowski.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Football star Rob Gronkowski lives solely off the money he makes from endorsements. Image: Flickr/ Sgt. James K. McCann</figcaption></figure>
Known as Gronk to his fans, Gronkowski might be a giant on the football field, but his financial game plan is all about defence. He spills the beans in his book, ‘It's Good to Be Gronk,' sharing that he hasn't spent a dime of his NFL earnings or bonuses, living solely on the cash from his endorsements.
<h3 class="wp-block-heading">3. Dave Grohl</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="575" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30011416/dave-grohl-1024x575.jpg" alt="Dave Grohl has said he banks his money and lives relatively frugally. Image: Flickr/ Facundo Gaisler" class="wp-image-362237" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30011416/dave-grohl-1024x575.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30011416/dave-grohl-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30011416/dave-grohl-768x431.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30011416/dave-grohl.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Dave Grohl has said he banks his money and lives relatively frugally. Image: Flickr/ Facundo Gaisler</figcaption></figure>
The legendary drummer of Nirvana and frontman for Foo Fighters, prefers to keep life simple. He banks his earnings and opts for modest living with just a family car and a house that's big enough but not too grand. Grohl proves that rock stars can indeed be practical.
<h3 class="wp-block-heading">4. Mark Cuban</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30012103/mark-cuban-shutter-1-1024x576.jpg" alt="Mark Cuban, despite being a billionaire, is famous for his frugal habits. Image: Shutterstock/ Kathy Hutchins" class="wp-image-362241" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30012103/mark-cuban-shutter-1-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30012103/mark-cuban-shutter-1-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30012103/mark-cuban-shutter-1-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30012103/mark-cuban-shutter-1.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Mark Cuban, despite being a billionaire, is famous for his frugal habits. Image: Shutterstock/ Kathy Hutchins</figcaption></figure>
Cuban is a billionaire who could easily splash cash without a care but chooses to keep a tight leash on his finances. The ‘Shark Tank' judge and owner of the Dallas Mavericks is a big believer in living simply and loves a good sale on household staples. He's adamant that saving is key, no matter how many zeros your net worth has.
<h3 class="wp-block-heading">5. Jay Leno</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="575" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30012434/Jay-Leno-1024x575.jpg" alt="While juggling jobs as a comedian and car dealership worker, Leno lived solely on his comedy earnings. Image: Shutterstock/ Dan Holm" class="wp-image-362243" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30012434/Jay-Leno-1024x575.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30012434/Jay-Leno-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30012434/Jay-Leno-768x431.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30012434/Jay-Leno.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">While juggling jobs as a comedian and car dealership worker, Leno lived solely on his comedy earnings. Image: Shutterstock/ Dan Holm</figcaption></figure>
Jay Leno shows us how diversifying income streams can lead to financial freedom. The former ‘Tonight Show' host juggled jobs at a car dealership and comedy clubs, choosing to spend only what he earned from stand-up. When his comedy gigs started paying more, he switched to living off his dealership earnings.

Personal Finance

5 Celebrities Who Are Surprisingly Good At Managing Their Money

FCPT

FCPT Announces Acquisition Of A National Veterinary Associates Property For $2M

<a href="https://x.com/netflix/status/1796655394431111364">https://x.com/netflix/status/1796655394431111364</a>
&nbsp;

Events

NFLX

Netflix Posts On X "Unfortunately Jake Paul And Mike Tyson Will Not Face-Off On July 20 As Planned. Tyson's Recent Ulcer Flare Up Has Limited His Ability To Train Fully For The Next Few Weeks. The Fight Will Be Rescheduled For A Date Later This Year"

CDW (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDW#NASDAQ">CDW</a>) has outperformed the market over the past 5 years by 3.43% on an annualized basis producing an average annual return of 16.89%. Currently, CDW has a market capitalization of $30.05 billion. 
Buying $100 In CDW: If an investor had bought $100 of CDW stock 5 years ago, it would be worth $225.06 today based on a price of $223.62 for CDW at the time of writing.
<h3>CDW's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1717191032_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In CDW 5 Years Ago Would Be Worth This Much Today

Linde (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LIN#NASDAQ">LIN</a>) has outperformed the market over the past 20 years by 5.08% on an annualized basis producing an average annual return of 13.0%. Currently, Linde has a market capitalization of $209.36 billion. 
Buying $1000 In LIN: If an investor had bought $1000 of LIN stock 20 years ago, it would be worth $11,467.09 today based on a price of $435.52 for LIN at the time of writing.
<h3>Linde's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1717191027_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Linde Stock In The Last 20 Years

Thermo Fisher Scientific (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMO#NYSE">TMO</a>) has outperformed the market over the past 10 years by 6.43% on an annualized basis producing an average annual return of 16.92%. Currently, Thermo Fisher Scientific has a market capitalization of $216.81 billion. 
Buying $1000 In TMO: If an investor had bought $1000 of TMO stock 10 years ago, it would be worth $4,822.38 today based on a price of $567.98 for TMO at the time of writing.
<h3>Thermo Fisher Scientific's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1717189228_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Thermo Fisher Scientific Stock In The Last 10 Years

Viking Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VKTX#NASDAQ">VKTX</a>) has outperformed the market over the past 5 years by 37.13% on an annualized basis producing an average annual return of 50.59%. Currently, Viking Therapeutics has a market capitalization of $6.86 billion. 
Buying $1000 In VKTX: If an investor had bought $1000 of VKTX stock 5 years ago, it would be worth $8,117.34 today based on a price of $62.18 for VKTX at the time of writing.
<h3>Viking Therapeutics's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1717189223_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

VKTX

Here's How Much You Would Have Made Owning Viking Therapeutics Stock In The Last 5 Years

Governor John Carney (D) signed HB 285 into law, expanding medical cannabis access in Delaware. The new legislation, effective immediately, allows physicians to recommend <a href="http://benzinga.com/topic/medical-cannabis" target="_blank" rel="noreferrer noopener">medical cannabis</a> to any patient who might benefit, without the need for a state-specific qualifying condition. Additionally, individuals aged 65 and older can self-certify for a medical cannabis registration card without a doctor&#8217;s recommendation.
<h3 class="wp-block-heading">Expanded Physician Discretion And Interstate Access</h3>
The new <a href="https://legis.delaware.gov/BillDetail?LegislationId=140809" target="_blank" rel="noreferrer noopener">law</a> grants physicians the discretion to recommend medical cannabis to any patient who may benefit from it, irrespective of state-specific qualifying conditions.&nbsp;
Furthermore, this law also grants state-registered patients from other states access to Delaware dispensaries. This move aligns with Delaware&#8217;s ongoing efforts to improve cannabis accessibility and reflects a growing trend toward more inclusive medical cannabis policies.
<h3 class="wp-block-heading">Addressing Gaps In Medical Cannabis Access</h3>
Paul Armentano, deputy director of NORML, advocated for the measure, emphasizing the restrictive nature of the previous qualifying condition list. &#8220;Physicians in Delaware are limited to recommending medical cannabis solely to those patients who possess one of a limited number of state-specific qualifying medical conditions,&#8221; Armentano <a href="https://norml.org/blog/2024/05/29/delaware-governor-signs-medical-cannabis-expansion-bill-into-law/" target="_blank" rel="noreferrer noopener">stated</a>.
Armentano highlighted that conditions like <a href="https://www.benzinga.com/markets/cannabis/23/05/32616506/hope-for-fibromyalgia-sufferers-cannabis-linked-to-improved-symptoms-less-opioid-use-in-uk-study" target="_blank" rel="noreferrer noopener">fibromyalgia</a> and <a href="https://www.benzinga.com/markets/cannabis/23/06/32799223/cbd-thc-combined-helps-treat-tourette-syndrome-symptoms-new-study-finds" target="_blank" rel="noreferrer noopener">Tourette Syndrome</a> were excluded from the list, limiting patient access. He stressed the importance of allowing medical decisions to be made between patients and their doctors rather than by government mandates.
<h3 class="wp-block-heading">Delaware&#8217;s Stance On Cannabis</h3>
The state&#8217;s Medical Marijuana Program, established in 2011, currently serves around 29,000 patients through 12 retail dispensaries, <a href="https://dhss.delaware.gov/dhss/dph/hsp/files/MMReportFY23.pdf">according</a> to the Delaware Department of Health and Social Services. The Office of the Marijuana Commissioner 2023 annual <a href="https://omc.delaware.gov/contentFolder/pdf/Annual%20Reports/OMC%202023%20Annual%20Report.pdf?cache=1717002505804">report</a> shows medical cannabis sales in Delaware exceeded $53.8 million in 2023.
In March, State Rep. Ed Osienski (D) <a href="https://www.benzinga.com/markets/cannabis/24/03/37898744/new-bill-would-protect-banks-providing-services-to-legal-cannabis-business-in-delaware" target="_blank" rel="noreferrer noopener">introduced House Bill 355 to protect financial institutions providing services to cannabis businesses</a>. This bill aims to ensure that banks, credit unions, and other financial service providers are not prosecuted under state law for working with licensed cannabis businesses. 
The state&#8217;s progressive stance on cannabis is further demonstrated by <a href="https://www.benzinga.com/markets/cannabis/23/05/32324918/delaware-becomes-22nd-state-to-legalize-adult-use-cannabis-bypassing-governors-signature" target="_blank" rel="noreferrer noopener">last year&#8217;s legislation of adult-use cannabis possession and retail sales</a>. However, state-licensed retailers are not expected to be operational until spring 2025.
Read also: <a href="https://www.benzinga.com/markets/cannabis/24/05/39045858/five-years-later-young-man-diagnosed-with-stage-4-brain-cancer-shares-how-cannabis-helped-his-re" target="_blank" rel="noreferrer noopener">Five Years Later, Young Man Diagnosed With Stage 4 Brain Cancer Shares How Cannabis Helped His Recovery And What The Best Medicine Really Is</a>
Image Credits: Kindel Media By Pixabay And Real Window Creative By Shutterstock Edited By <a href="https://www.benzinga.com/cannabis" target="_blank" rel="noreferrer noopener">Benzinga</a>.

Cannabis

Government

Regulations

Delaware Expands Medical Cannabis Access, Grants Physicians Discretion For Recommendations, Opens Dispensaries To Out-Of-State Patients

Shares of RCI Hospitality Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RICK#NASDAQ">RICK</a>) fell on Thursday before rebounding Friday on above average volume. The increase in trading comes with allegations shared by <a href="https://www.benzinga.com/markets/equities/24/05/38876672/amc-entertainment-a-dead-company-walking-says-bear-cave-report">Bear Cave Research's Edwin Dorsey.</a>
What Happened: The owner of nightclubs, gentlemen's clubs and sports bar restaurants is facing <a href="https://www.benzinga.com/quote/RICK/analyst-ratings">increased interest</a> from investors after Dorsey published an update on the company Thursday.
"Today's special investigation is our shortest ever. The primary evidence is one photo taken from a public sidewalk last night," Dorsey wrote.
The photo shared is alleged to show that Rick's NYC location was raided on Wednesday night. Bear Cave alleges that other RCI Hospitality locations may have also been raided during the week.
"Numerous law enforcement agents were both outside and within public view inside of Rick's property, although there did not appear to be any emergency or emergency vehicles in the area. The Rick's location also indicated it was closed for the entire night," Dorsey wrote.
Dorsey also said that RCI's CEO Eric Langan (@RicksCEO on X) had not tweeted since May 16, marking his longest X break over the last year. Langan has tweeted since the report was published.
In the report, Dorsey said RCI Hospitality should disclose to investors if there was a raid, how many locations were raided and why law enforcement was at its properties.
Dorsey reached out to Langan and Mark Moran, whose Equity Animal has handled external investor relations for the company. Other than getting insulted by Moran, Dorsey did not publicly hear back from either individual.
A <a href="https://x.com/StockJabber/status/1796606071374582126">tweet </a>from Dorsey lays out the alleged timeline of several raids at multiple locations. Dorsey has also been <a href="https://x.com/StockJabber/status/1796417410917875825">sharing </a>accounts from employees of company locations that were shared on the r/Stripper subreddit.
Benzinga reached out for comment from two contacts listed on RCI Hospitality's site for investor relations.
Related Link:<a href="https://www.benzinga.com/news/earnings/24/01/36557850/rci-hospitality-sees-sales-uplift-in-nightclubs-challenges-in-bombshells-for-1q24"> RCI Hospitality Sees Sales Uplift In Nightclubs, Challenges In Bombshells For 1Q24</a>
Why It's Important: Along with the raid allegations, Dorsey wrote that RCI Hospitality has struggled with its restaurant concept, an NFT project, and tougher regulations.
Bear Cave previously published a short report on the company in 2022.
In May, RCI Hospitality reported second quarter sales of $72.28 million and earnings per share of 90 cents, both of which missed Street consensus estimates.
Benzinga previously hosted a bear bull debate on X that included Moran, Dorsey and Langan discussing RCI Hospitality. That conversation can be watched below.
RICK Price Action: RCI Hospitality shares closed 4% higher at $44.74 on Friday after trading down Thursday. Shares have traded between $41.79 and $79.46 over the last 52 weeks. The stock is down 33% year-to-date in 2024 and down 39% over the last year.
Read Next: <a href="https://www.benzinga.com/general/entertainment/22/06/27616407/exclusive-twitter-spaces-bull-vs-bear-rick-debate">Exclusive: Twitter Spaces &#8216;Bulls vs. Bears&#8217; Debate With RCI Hospitality And Edwin Dorsey</a>
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Photo: ccpixx photography/Shutterstock

Movers

RICK

RCI Hospitality Shares Swing Wildly Following Raid Allegations From Short Report: What Investors Should Know

Barrington Research analyst Kevin Steinke maintains ICF International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICFI#NASDAQ">ICFI</a>) with a Outperform and maintains $173 price target.

Price Target

ICFI

Barrington Research Maintains Outperform on ICF International, Maintains $173 Price Target

A recent company note from <a href="https://www.pipersandler.com/">Piper Sandler &amp; Co</a>, by senior analysts Michael S. Lavery and Luke Maloney&nbsp;offers insights into Canopy Growth Corporation&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cgc#NASDAQ">CGC</a>) financial performance, valuation&nbsp;and prospects.
The near-term outlook remains cautious, with significant valuation adjustments and an &quot;Underweight&quot; rating from Piper Sandler. Despite positive revenue trends amid economic challenges, investors should note ongoing efforts to achieve profitability, potential regulatory impacts&nbsp;and market focus shifts.
<h3>Financial Performance And Projections</h3>
Canopy Growth&#39;s<a href="https://www.benzinga.com/markets/cannabis/24/05/39085695/canopy-growth-reports-7-yoy-increase-in-q4-net-revenue-continues-focus-on-innovation-in-canada-a"> financial results</a> for fiscal year 2024 show net revenues of C$72.9 million, surpassing the estimate of C$69.5 million. However, EBITDA was significantly below expectations. The company aims to achieve positive adjusted EBITDA by the second half of fiscal year 2025&nbsp;with estimates of C$0.8 million in the third quarter and C$1.4 million in the fourth quarter.
Piper&rsquo;s company note procured by Benzinga Cannabis revises the company&#39;s revenue projections, lowering the fiscal year 2025 estimate from C$304 million to C$297.8 million and the fiscal year 2026 estimate from C$343.9 million to C$322.3 million. The projected earnings per share (EPS) for the fiscal year 2025 is C$(1.63) and for the fiscal year 2026 is C$(1.50).
The company&#39;s revenue for the fourth quarter of 2024 includes 33% from non-cannabis segments&nbsp;with Storz &amp; Bickel sales increasing by 43% due to distributor and retailer demand. However, the Other segment sales declined by 44% due to the <a href="https://www.benzinga.com/markets/cannabis/23/08/34044027/canopy-growth-aurora-cannabis-cronos-group-leaving-us-cbd-market-distressed-asset-opportunity">divestitures</a> of BioSteel and This Works.
&ldquo;[Canopy] has no debt maturities until March 2026, though we expect it to continue issuing shares to pay down debt (its share count has roughly doubled in the last six quarters),&rdquo; reads the report.
<h3>Current Valuation And Target Price</h3>
As of May 30, 2024, Canopy Growth Corporation is rated &quot;Underweight&quot; by <a href="http://www.pipersandler.com/">Piper Sandler</a> with a current stock price of US$8.48 and a target price of $3.00.
Piper Sandler&rsquo;s valuation approach involves estimating the 2025 sales at $235 million and applying a multiple of two, resulting in a target valuation of $470 million, approximately twice the estimated 2025 sales.
The 89 million shares outstanding translates to a target market capitalization of $267 million, or $3.00 per share.
This conservative target price reflects the firm&#39;s assessment of Canopy Growth&rsquo;s financial health, which includes cash reserves of approximately $155 million and a debt load of around US$435 million.
The significant debt relative to cash reserves raises concerns about the company&rsquo;s ability to manage its obligations, contributing to the &quot;Underweight&quot; rating.
To learn more about the cannabis business and how to invest in the sector,&nbsp;don&#39;t miss the opportunity to join us at the&nbsp;<a href="https://www.benzinga.com/events/cannabis-conference/?UTM_source=article" target="_blank">19th Benzinga Cannabis Capital Conference</a>&nbsp;in Chicago this October 8-9. Engage with top executives, investors, policymakers, and advocates to explore the industry&#39;s future. Secure your tickets now before prices increase by following&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank">this link</a>.
<h3>&lsquo;Largely Symbolic&rsquo;</h3>
The report discusses the impact of cannabis rescheduling <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38905962/cannabis-rescheduling-when-will-it-happen-expert-lays-out-timeline-risks-and-wild-c">from Schedule I to Schedule III</a>, noting that the change does not legalize cannabis at the federal level nor resolve financial service issues for cannabis businesses.
&ldquo;The <a href="https://www.benzinga.com/markets/cannabis/24/05/38882733/weed-industry-celebrates-bidens-rescheduling-move-most-monumental-cannabis-reform-in-half-a-cent">rescheduling of cannabis </a>from Schedule I to Schedule III is largely symbolic and would still require a company to submit a new drug application to the FDA for approval of any cannabis-based drug and would require patients to obtain a prescription to get the drug,&rdquo; reads the report.
However, it offers tax benefits by eliminating the <a href="https://www.benzinga.com/markets/cannabis/24/05/38885460/finally-tax-refunds-these-cannabis-companies-will-get-the-most-money-back-if-rescheduling-happen">280E tax penalty</a>, which positively affects Canopy USA.
<h3>Focus On Canada And International Markets</h3>
Canopy Growth has streamlined its portfolio through divestitures, focusing on becoming an asset-light, cannabis-centric company. Its primary market remains <a href="https://www.benzinga.com/topic/canada-cannabis">Canada</a>, but it also sees potential in markets like <a href="https://www.benzinga.com/topic/germany-cannabis">Germany</a>, Australia, and Poland, provided margins are better than in Canada.
Photo: AI-Generated Image.&nbsp;