Latest news for Rising Biosciences (OTC:RBII) Stock

Rising Biosciences Inc is a United States-based company engaged in research and development activities. It is focused on oral and topical cannabis and non-cannabis based pharmaceuticals. The company seeks to address the market demand for the treatment of the danger of opiates, whose long-term effects can include liver damage, addiction and brain damage due to hypoxia, resulting from respiratory depression, among other complications.

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RISING BIOSCIENCES INC by Rising Biosciences, Inc.

Rising Biosciences Inc

Politan Capital Management (together with its affiliates, "Politan"), a 9% shareholder of Masimo Corporation ("Masimo" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MASI#NASDAQ">MASI</a>), today commented on the outcome of the Company's Annual Meeting of Stockholders (the "Annual Meeting").
Both of Politan's independent nominees – Darlene Solomon and William Jellison – were elected to the Board.1 Politan greatly appreciates the support and engagement from its fellow Masimo shareholders during this process.
Darlene Solomon, William Jellison, Michelle Brennan and Quentin Koffey issued the following joint statement:
"While each of us is independent and brings our own unique perspectives, we are united in our enthusiasm for Masimo's future as a leading, innovation-focused growth company. We look forward to meeting with, learning from, and working together with the Healthcare and Consumer employees to make Masimo an even greater company. We would also like customers to know that we will be completely focused on preventing any disruption to their service and support. We will have more to share soon."

Management

MASI

Politan Comments On Results Of Masimo's 2024 Annual Meeting, Both Of Politan's Independent Nominees Darlene Solomon And William Jellison Were Elected To The Board

- Initiation of pivotal CYB003 Phase 3 study in Major Depressive Disorder ("MDD") expected imminently -
- 12-month efficacy data from Phase 2 study of CYB003 in MDD expected in early Q4 2024 -
- Phase 2 topline efficacy and safety results for CYB004 in Generalized Anxiety Disorder ("GAD") expected year-end 2024 or early Q1 2025 -
- Strengthened R&amp;D team with addition of experienced drug development leaders Dr. Atul R. Mahableshwarkar, and Dr. Tom Macek, as program leads for CYB003 and CYB004, respectively -
<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.cybin.com%2F&amp;esheet=54124810&amp;newsitemid=20240919771162&amp;lan=en-US&amp;anchor=Cybin+Inc.&amp;index=1&amp;md5=66087b8f12a3993545dbd3142c3afc66">Cybin Inc.</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CYBN#NYSE">CYBN</a>) (Cboe CA:CYBN) ("Cybin" or the "Company"), a clinical-stage breakthrough neuropsychiatry company committed to revolutionizing mental healthcare by developing new and innovative next-generation treatment options, today reported recent clinical accomplishments and key upcoming clinical milestones.

Biotech

CYBN

Cybin Provides Corporate Update On Upcoming Clinical Milestones; Initiation Of Pivotal CYB003 Phase 3 Study In Major Depressive Disorder Expected Imminently; 12-Month Efficacy Data From Phase 2 Study Of CYB003 In MDD Expected In Early Q4 2024; Phase 2 Topline Efficacy And Safety Results For CYB004 In Generalized Anxiety Disorder Expected Year-End 2024 Or Early Q1 2025

Earnings

ASTC

Astrotech FY24 EPS $(7.12) Down From $(5.95) YoY; Revenue $1.66M Up From $750K YoY

Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) shares<a href="https://www.benzinga.com/news/24/09/40897994/whats-going-on-with-intel-stock-on-tuesday"> skyrocketed on Thursday</a> after Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) assured investors it would not drop its majority stake in the Israeli autonomous driving company.
Mobileye gained 14.99% to close at $13.35 on Thursday, marking its largest intraday jump since late October 2022.
&#8220;We currently do not have any plans to divest a majority interest in the company,&#8221; Intel said in a statement.
&#8220;By providing Mobileye with separation and autonomy, we have enhanced its ability to capitalize on growth opportunities and accelerate its path to creating even greater value.&#8221;
Read Also: <a href="https://www.benzinga.com/news/24/09/40941075/whats-going-on-with-autonomous-driving-stock-mobileye-thursday">What&#8217;s Going On With Autonomous Driving Stock Mobileye Thursday?</a>
Intel, which holds an 88% stake in Mobileye, said it believes in the future of autonomous driving technology and in Mobileye's &#8220;unique role as a leader&#8221; in developing advanced driver assistance systems.
Intel CEO Pat Gelsinger has been changing his company's operations and showed more of his plans earlier this week to get the troubled chipmaker back on track, including pausing building factories in Germany and Poland and turning its manufacturing sector into a wholly owned subsidiary, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-09-19/mobileye-jumps-after-intel-says-it-won-t-divest-majority-stake?srnd=homepage-americas&amp;sref=TBDibEcD">reported</a>.
Intel discussed possibly selling some its Mobileye stake either on the public market or through a third-party sale, Bloomberg reported earlier this month.
Mobileye, which provides both software and hardware for self-driving systems, was acquired by Intel in 2017 for about $15 billion. It had an initial public offering in 2022, but Intel held most of the stake.
Read Now:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/10/35469115/mobileye-lowered-revenue-outlook-but-these-analysts-are-still-bullish-heres-why">Mobileye Lowered Revenue Outlook But These Analysts Are Still Bullish &#8211; Here&#8217;s Why</a></li>
</ul>
Photo: Ilan Ben Oudiz<a href="https://creativecommons.org/licenses/by-sa/4.0"> via </a>Wikimedia Commons

Equities

Global

Tech

INTC

MBLY

Mobileye Soars After Intel Says It Will Not Sell Majority Stake

<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4259289-1&amp;h=1854567284&amp;u=https%3A%2F%2Fnauticusrobotics.com%2F&amp;a=Nauticus+Robotics+Inc.">Nauticus Robotics Inc.</a>&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KITT#NASDAQ">KITT</a>) a leading innovator in autonomous subsea robotics and software, today announced receipt of a letter from the Nasdaq Stock Market LLC ("Nasdaq") approving an extension of time to regain compliance with all listing standards.
The letter received from Nasdaq grants Nauticus an exception until December 31, 2024 to demonstrate compliance with the Nasdaq Capital Market listing rules. Nauticus management presented its detailed plan to gain compliance during the Nasdaq Hearings Panel meeting held on September 5, 2024.
Nauticus will continue to work through its plan with intent to resolve all compliance issues before the deadline of December 31, 2024.
With the granting of this Nasdaq exception, Nauticus remains listed on the Nasdaq capital market. Once the compliance plan is fully executed, Nauticus will make further disclosures describing the actions taken by the Company to achieve compliance.&nbsp;

KITT

Nauticus Robotics Announces Notification Of NASDAQ Listing Extension, Will Continue To Work Through Its Plan With Intent To Resolve All Compliance Issues Before The Deadline Of December 31, 2024

WIIM

AGBA

AGBA Group shares are trading higher after the company announced all AGBA/Triller merger closing conditions have been met, with the exception of the final Nasdaq listing regulatory approval.

<ul>
<li>AGBA's merger with Triller Corp. is on track to close &nbsp;</li>
<li>Shareholder approval was granted for AGBA to be incorporated as a Delaware Corporation and domiciled in the U.S., operating under the name Triller Group Inc. &nbsp;</li>
<li>All AGBA/Triller merger closing conditions have been met, with the exception of the final Nasdaq listing regulatory approval, soon anticipated &nbsp;</li>
</ul>
NEW YORK, Sept. 19, 2024 /PRNewswire/ -- AGBA Group Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGBA#NASDAQ">AGBA</a>) ("AGBA" of the "Company"), a multi-channel business platform delivering first-class financial services through machine-learning technologies, today announced the results of its general shareholder meeting (the "Meeting") held on September 19, 2024. During the Meeting, AGBA's shareholders resoundingly approved all proposals put forth for vote and moved AGBA's merger with Triller Corp. to its final stage of completion. &nbsp;In the coming weeks, AGBA and Triller Corp. anticipate receiving Triller Group Inc.'s (the pro forma merged parent company) new Nasdaq listing approval, the final closing condition to the transaction, and expect their merger to close shortly thereafter.
Today's Meeting and shareholder vote provided approval for AGBA to be re-domiciled in the State of Delaware and incorporated as a company under Delaware State Law operating under the new name "Triller Group Inc."
The shareholder vote also approved the amended and restated merger agreement dated as of August 30, 2024 ("Merger Agreement"), by and between AGBA (to be renamed Triller Group Inc.), AGBA Social Inc., a wholly owned Delaware subsidiary of AGBA, Triller Corp. and Triller's stockholder representative, with respect to the acquisition of 100% of the outstanding capital stock and conversion of all restricted stock units of Triller Corp., in exchange for common stock and preferred stock of the newly named Triller Group Inc. the conversion of all existing Triller Corp. restricted stock units into Triller Group Inc. restricted stock units, and the assumption of certain Triller Corp. warrants.
It was also agreed at the Meeting that AGBA's Revised Charter Amendment would supersede and stand in substitution for the Charter Amendment Proposal to approve (i) the adoption and filing of the Company's Sixth Amended and Restated Memorandum and Articles of Association to supersede and replace in its entirety AGBA's Fifth Amended and Restated Memorandum and Articles of Association to, among other things, (A) increase the number of the Company's ordinary shares authorized for issuance thereunder from 1,000,000,000 to 1,500,000,000, (B) authorize a new class of 100,000,000 class A preferred shares and authorize a new class of 45,000 super voting class B Shares, with each share entitled to 10,000 votes, and (C) to enable the majority shareholders to approve matters by written consent, and (ii) the adoption and filing of AGBA's Seventh Amended and Restated Memorandum and Articles of Association to supersede and replace in its entirety the Company's Sixth Amended and Restated Memorandum and Articles of Association to consolidate the above amendments and to effect the forward share split of the AGBA Ordinary Shares on a 1.9365 basis, and the resulting increase in the total number of authorized ordinary shares from 1,500,000,000 to 2,904,753,145 and increase in the outstanding AGBA Ordinary Shares from 97,736,035, shares to 189,265,804 shares and reduction in the par value of each&nbsp; AGBA Ordinary Shares from $0.001 to $0.000516395 (the "Share Split").
AGBA's shareholders authorized and approved that after its merger with Triller Corp. has closed, and based on the number of outstanding AGBA Ordinary Shares as of August 30, 2024, Triller Corp.'s Stakeholders will hold 70% of the aggregate of (i) the economic interests of the outstanding Triller Group Inc. capital stock plus (ii) the outstanding Triller Group Inc. RSUs, and the current AGBA shareholders will hold the remaining 30% ("Agreed Stakeholder Proportions"), and that AGBA's Board of Directors ("Directors") be and are hereby authorized to make such amendments and adjustments to the Merger Agreement and the numbers of securities to be so issued in Triller Group Inc., in their sole discretion, as may be required or desirable to give effect to the Merger Agreement Proposal and the Agreed Stakeholder Proportions.
Further, the shareholders granted to authorize and approve a reverse share split of AGBA Ordinary Shares in the range of 1 to 1.5 to 1 to 20 and grant to AGBA's Directors the discretion and authority to determine the exact reverse split ratio, within the above specified range, ("Reverse Share Split") and to further authorize and approve any consequential changes and amendments to AGBA's memorandum and articles of association, and to authorize and grant discretion to AGBA's Directors to do all things necessary to give effect to the Reverse Share Split as may be required.
These approved proposals reflect transformative changes being implemented at AGBA and mark a significant step forward for Triller Group Inc.'s future enhanced growth and positioning within the technology and social media industries.

AGBA Group Holding Limited Announced Moving Towards Finalizing The Merger Upon Receiving New Nasdaq Listing Approval For Triller Group Inc., Involving Re-Domiciliation To Delaware, Authorization Of A Forward Share Split, A Reverse Share Split, And Allocation Of 70% Of Economic Interests To Triller Corp.'s Stakeholders

Cayson Acquisition Corp (the "Company") announced today that it priced its initial public offering of 6,000,000 units at $10.00 per unit. The Company's units will be listed on the Nasdaq Global Market ("Nasdaq") and will begin trading tomorrow, September 20, 2024, under the ticker symbol "CAPNU." Each unit consists of one ordinary share and one right entitling its holder to receive one tenth of one ordinary share upon the Company's completion of an initial business combination, subject to adjustment. Once the securities comprising the units begin separate trading, the ordinary shares and rights are expected to be listed on Nasdaq under the symbols "CAPN" and "CAPNR," respectively.

IPOs

CAPN

Cayson Acquisition Corp Announces Pricing Of $60M Initial Public Offering Of 6M Units At A Price Of $10/Unit

Singular Genomics Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OMIC#NASDAQ">OMIC</a>), a company leveraging novel next-generation sequencing (NGS) and spatial multiomics technologies to empower researchers and clinicians, announced today that it has received an unsolicited non-binding proposal from Concentra Biosciences, LLC ("Concentra") to acquire all of the Company's outstanding shares of common stock for $12.00 per share in cash. As alternative consideration, Concentra stated that it would consider, assuming it receives sufficient interest from existing stockholders, inviting interested stockholders to elect to continue to participate in any future value realized from the Company's ongoing business by receiving a contingent value right in lieu of receiving $12.00 per share in cash.&nbsp; &nbsp; &nbsp;
According to a Schedule 13D filed on September 19, 2024 with the U.S. Securities and Exchange Commission (the "SEC") disclosing Concentra's proposal, Tang Capital is the controlling stockholder of Concentra and beneficially owns approximately 14.9% of the Company's outstanding common stock.

OMIC

Singular Genomics Receives Non-Binding Acquisition Proposal From Concentra Biosciences And Tang Capital To Acquire All Of The Company's Outstanding Shares Of Common Stock For $12.00 Per Share In Cash

<ul>
<li>Board Declares Third Quarter 2024 Dividend of $0.37 Per Share of Common Stock</li>
</ul>
The Board of Directors of Chimera Investment Corporation announced the declaration of its third quarter cash dividend of $0.37 per common share. The dividend is payable on October 31, 2024 to common stockholders of record on September 30, 2024. The ex-dividend date is September 30, 2024.
"We are pleased to announce an increase in our common stock dividend for the second consecutive quarter," said Phillip J. Kardis II, President and CEO of Chimera. "We continue to seek opportunities to maximize shareholder value as we enter a more favorable interest rate environment."

Dividends

Chimera Increases Q3 2024 Common Stock Dividend From $0.35 To $0.37 Per Share

David Goubert has resigned as president and CEO of Ayr Wellness Inc. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/AYR#CSE">AYR</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AYRWF#OTC">AYRWF</a>), a Miami-based cannabis multistate operator, after less than a <a href="https://www.benzinga.com/topic/ayr-wellness">year in the role. </a>
Goubert, who joined the company as president in October of 2022 and took over as CEO in February 2023, is the latest in a series of executive departures at the company, MJBizDaily <a href="https://mjbizdaily.com/cannabis-operator-ayr-wellness-loses-ceo-david-goubert/">reported.</a>
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/08/40222855/ayr-wellness-reports-qoq-drop-in-q2-revenue-gross-profit-but-plans-to-make-the-most-of-ohio-cann">AYR Wellness&#8217; Conditional Approval For Medical Marijuana Operations In Virginia, What It Means For Investors</a>
The resignation was announced alongside Ayr&#8217;s second-quarter earnings report, which revealed a slight dip in earnings and growing net losses. 
Ayr's board of directors has initiated a search for a permanent CEO, while Steven Cohen, previously an external legal adviser, will serve as interim CEO.
<h3 class="wp-block-heading">Are Leadership Changes Enough?</h3>
In the second quarter of 2024, the company reported a slight decrease in revenue, down 0.6% from the previous quarter to $117.3 million. 
While the MSO managed to reduce its overall expenses, net losses increased to $38 million, a significant jump from the $29 million reported a year earlier.
The company has been attempting to stabilize its financial footing amid these losses. As Goubert explained before his resignation, Ayr was focused on "laying the groundwork for Ayr's next phase of growth."
<h3 class="wp-block-heading">Interim Leadership</h3>
Cohen, who will assume the role of interim CEO, brings a legal and corporate governance background but lacks direct cannabis industry experience. He is a founding member of Blue Raven, a New York-based legal advisory firm specializing in strategic corporate advice and general counsel services.
Cohen's appointment follows another notable departure, Jonathan Sandelman, who stepped down as director and executive chair in July, marking the second high-profile exit within just a few months.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/08/40222855/ayr-wellness-reports-qoq-drop-in-q2-revenue-gross-profit-but-plans-to-make-the-most-of-ohio-cann">Ayr Wellness Reports QoQ Drop In Q2 Revenue &amp; Gross Profit But Plans To Make The Most Of Ohio Cannabis Sales</a></li>
</ul>
Cover image made with AI.

Cannabis

AYRWF

CSE:AYR

Cannabis Multi-State Operator Ayr Wellness Seeks New CEO After David Goubert's Departure: 'Next Phase Of Growth' Coming?

MillerKnoll, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLKN#NASDAQ">MLKN</a>) shares are trading lower after the company reported its first-quarter financial results after Thursday's closing bell. Here's a look at the <a href="https://www.benzinga.com/pressreleases/24/09/n40947407/millerknoll-inc-reports-first-quarter-fiscal-2025-results">details from the report. </a>
The Details: MillerKnoll reported quarterly earnings of 36 cents per share, which missed the analyst consensus estimate of 40 cents. Quarterly revenue of $861.50 million also missed the consensus estimate of $889.3 million and represents a 6.12% decrease from the same period last year.
<ul>
<li>Orders in the first quarter were up 2.4% on a reported basis and up 3.5% organically from the prior year, led by Americas Contract growth of 5.2%.</li>
<li>Ending backlog of $758 million increased 9.2% from last year and 10.9% from the start of fiscal 2025.</li>
<li>Gross margin in the Global Retail segment improved by 160 basis points due to continued benefits from operational improvements.</li>
</ul>
&#8220;While demand trends in our Retail segment continue to reflect the impact of a tepid housing market, the investments we have made in platform operational capabilities are not only driving significant margin improvements, but also position us to support profitable growth plans as the macro-economic backdrop improves. We believe our first quarter financial results demonstrate the advantage of our collective of brands, diverse business channels and global footprint,&#8221; the company wrote in a letter to shareholders. 
Read Next: <a href="https://www.benzinga.com/fintech/24/09/40928342/what-happened-with-sofi-stock-today">What Happened With SoFi Stock Today?</a>
Outlook: MillerKnoll sees second-quarter earnings of between 51 cents and 57 cents per share, versus the estimate of 61 cents, and second-quarter revenue in a range of $950 million to $990 million, versus the $948.12 million estimate. BZ Wire
MLKN Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, MillerKnoll shares are down 2.62% after-hours at $26.75 at the time of publication Thursday. 
Read Also:
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<li><a href="https://www.benzinga.com/news/24/09/40923038/whats-going-on-with-carnival-stock">What&#8217;s Going On With Carnival Stock?</a></li>
</ul>
Photo: Shutterstock

MLKN

MillerKnoll Stock Dips After Q1 Results: Here's Why

Chewy Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) shares are trading lower in Thursday&#8217;s after-hours session after the company announced a public offering by a selling stockholder and a <a href="https://www.benzinga.com/pressreleases/24/09/b40948271/chewy-inc-announces-public-offering-of-class-a-common-stock-by-selling-stockholder-and-concurrent-">concurrent share repurchase</a>.
What Happened: After the market close, Chewy announced an underwritten offering of&nbsp;$500 million&nbsp;of its common stock by Buddy Chester Sub LLC, which is an entity affiliated with funds advised by Chewy&#8217;s largest shareholder BC Partners Advisors LP.
The selling stockholder expects to grant the underwriters a 30-day option to purchase up to an additional&nbsp;$75 million&nbsp;of Chewy common stock. The online pet retailer will not sell any shares in the offering or receive any proceeds. 
Chewy also agreed to purchase $300 million worth of its common stock from the selling stockholder at a price equal to the price paid by the underwriters in the offering. The repurchased shares will be canceled and retired upon completion of the concurrent repurchase.
Chewy noted that its existing <a href="https://www.benzinga.com/news/earnings/24/05/39064898/pet-supply-focused-chewy-shares-gain-on-better-than-anticipated-q1-earnings-500m-buyback-plan">$500 million share repurchase program</a> will not be affected by this transaction. 
Don&#8217;t Miss: <a href="https://www.benzinga.com/news/earnings/24/09/40948046/fedex-q1-earnings-revenue-miss-eps-miss-lowered-guidance-challenging-quarter">FedEx Q1 Earnings: Revenue Miss, EPS Miss, Lowered Guidance — &#8216;Challenging Quarter&#8217;</a>
CHWY Price Action: Chewy shares were down 3.09% in after hours, trading at $30.15 at the time of publication Thursday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: <a href="https://pixabay.com/users/huoadg5888-8934889/?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=4415649">huoadg5888</a> from Pixabay.

Offerings

Buybacks

After-Hours Center

CHWY

Chewy Stock Is Sliding After Hours: What's Going On?

Telsey Advisory Group analyst Joseph Feldman maintains Target (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) with a Outperform and maintains $195 price target.

Price Target

Analyst Ratings

Telsey Advisory Group Maintains Outperform on Target, Maintains $195 Price Target

Lennar Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) reported its third-quarter financial results after Thursday's closing bell. Here's a look at the <a href="https://www.benzinga.com/pressreleases/24/09/n40948079/lennar-reports-third-quarter-2024-results">details from the report. </a>
The Details: Lennar reported quarterly earnings of $3.90 per share, which beat the analyst consensus estimate of $3.63 by 7.44%. Quarterly revenue clocked in at $9.416 billion, beating the consensus estimate of $9.164 billion and representing a 7.86% increase over the same period last year.
<ul>
<li>New orders increased 5% to 20,587 homes.</li>
<li>Lennar reported a backlog of 16,944 homes with a dollar value of $7.7 billion.</li>
<li>Deliveries increased 16% to 21,516 homes. </li>
<li>Lennar reported homebuilding operating earnings of $1.5 billion with gross margin on home sales of 22.5%.</li>
<li>Average home price was $422,000 in the third quarter,</li>
</ul>
&#8220;We are pleased to report another solid quarter backed by an economic environment that remains very constructive for homebuilders. Employment was strong, housing supply remained chronically short due to production deficits of over a decade and demand was solid driven by strong household formation,&#8221; said Stuart Miller, executive chairman and Co-CEO of Lennar.
&#8220;Although affordability continued to be tested during the quarter, purchasers remained responsive to increased sales incentives, resulting in a 16% increase in our deliveries and a 5% increase in our new orders year over year,&#8221; Miller added.
Read Next: <a href="https://www.benzinga.com/fintech/24/09/40928342/what-happened-with-sofi-stock-today">What Happened With SoFi Stock Today?</a>
Outlook: Lennar sees fourth-quarter new orders in a range of 19,000 to 19,300 and deliveries between 22,500 and 23,000. The company expects the average sales price to be approximately $425,000.
What Else: The company will host a conference call at 11 a.m. ET Friday to discuss the results. BofA Securities analyst Rafe Jadrosich maintained Lennar with a Neutral rating and raised the price target from $171 to $190 before the print on Thursday.
LEN Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Lennar shares are down 3.36% in extended trading at $185.99 after gaining 2.13% in Thursday&#8217;s regular session.
Read Also:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40923038/whats-going-on-with-carnival-stock">What&#8217;s Going On With Carnival Stock?</a></li>
</ul>
Photo: Shutterstock

Homebuilder Lennar Reports Better-Than-Expected Q3 Results: Details

West Fraser Timber Co. Ltd. ("West Fraser" or the "Company") (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFG#NYSE">WFG</a>) announced today that it will indefinitely curtail its sawmill in Lake Butler, Florida by the end of this month. Today's decision is the result of high fiber costs and soft lumber markets.
The indefinite curtailment of Lake Butler Sawmill will impact approximately 130 employees and reduce West Fraser's U.S. lumber capacity by approximately 110 million board feet. West Fraser expects to mitigate the impact on affected employees by providing work opportunities at other company operations.
High fiber costs at Lake Butler and the current low-price commodity environment have impaired the ability to profitably operate the mill. The indefinite curtailment of Lake Butler sawmill better aligns our U.S. lumber capacity with demand.
West Fraser anticipates taking an impairment charge in the third quarter of 2024 associated with the announcement.

West Fraser Timber Co. Announces It Will Indefinitely Curtail Its Sawmill In Lake Butler, Florida By The End Of This Month, As A Result Of High Fiber Costs And Soft Lumber Markets

Toyota Tsusho Memorandum of Understanding Arcadium Lithium announced the recent signing of a Memorandum of Understanding (MoU) with its long-time partner Toyota Tsusho Corporation (TTC), a key initial step in providing greater flexibility for Arcadium Lithium to optimize its global integrated operating network and to contribute its production expertise to Naraha.&nbsp; This includes using technical grade lithium carbonate produced at Olaroz to feed the Company's existing downstream lithium hydroxide network, thus allowing more battery grade lithium carbonate produced at Fénix to be sold directly to customers.&nbsp; This is expected to have a positive impact on the Company's earnings and to be achievable as early as 2026.

Contracts

ALTM

Arcadium Lithium Announced The Recent Signing Of A MoU With Its Long-Time Partner Toyota Tsusho Corporation To Optimize Its Global Integrated Operating Network And To Contribute Its Production Expertise To Naraha, Expected To Have A Positive Impact On The Co's Earnings And To Be Achievable As Early As 2026

<ul>
<li>Underscores unique position as a vertically integrated, diversified global producer of lithium chemicals with low-cost and high-quality assets</li>
<li>Details ongoing expansion programs expected to more than double total sales volumes by 2028 across multiple products and regions</li>
<li>Outlines path to Adjusted EBITDA1 of $1.3 billion by 2028 supported by strong and flexible balance sheet with peak net leverage of 2.1x1,2</li>
<li>Reaffirms significant expansion potential of one of the largest and most diverse resource bases in the industry</li>
<li>Accelerating plan to deliver $125 million of merger-related cost savings roughly two years ahead of initial target</li>
<li>Executed Memorandum of Understanding (MoU) with Toyota Tsusho in key step to unlocking further synergies</li>
</ul>
Arcadium Lithium plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALTM#NYSE">ALTM</a>, ASX: LTM, ", Arcadium Lithium", &amp;nbsp, or the ", Company", )))), a leading global lithium chemicals producer, today provided a number of strategic updates at its inaugural 2024 Investor Day. &nbsp;During the event, the Company reviewed its operating, commercial and growth strategies while reinforcing its commitment to sustainability leadership.&nbsp; The Company also discussed its plans for disciplined volume expansion and provided a long-term financial view.

Guidance

Events

Arcadium Lithium's 2024 Investor Day Highlights Company's Strategic Vision And Pathway To Significant Growth; Sees Adjusted EBITDA Of $1.3B By 2028; Accelerating Plan To Deliver $125M Of Merger-Related Cost Savings Roughly 2-Years Ahead Of Initial Target

Ratings for QuidelOrtho (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QDEL#NASDAQ">QDEL</a>) were provided by 4 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for QuidelOrtho, revealing an average target of $57.25, a high estimate of $61.00, and a low estimate of $50.00. Surpassing the previous average price target of $51.00, the current average has increased by 12.25%.
<img src="https://www.benzinga.com/files/images/story/2024/1726779707_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
The standing of QuidelOrtho among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>John Sourbeer</td>
<td>UBS</td>
<td>Raises</td>
<td>Neutral</td>
<td>$50.00</td>
<td>$42.00</td>
</tr>
<tr>
<td>Alexander Nowak</td>
<td>Craig-Hallum</td>
<td>Raises</td>
<td>Buy</td>
<td>$57.00</td>
<td>$40.00</td>
</tr>
<tr>
<td>Conor McNamara</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$61.00</td>
<td>$61.00</td>
</tr>
<tr>
<td>Conor McNamara</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$61.00</td>
<td>$61.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to QuidelOrtho. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of QuidelOrtho compared to the broader market.</li>
<li>Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of QuidelOrtho's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/QDEL/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on QuidelOrtho analyst ratings.</a>
<h2>Unveiling the Story Behind QuidelOrtho</h2>
QuidelOrtho Corp is engaged in the development, manufacturing, and marketing of rapid diagnostic testing solutions. The company is engaged in immunoassay and molecular testing, clinical chemistry and transfusion medicine which helps clinicians and patients to make decisions across the globe. Geographically the company has its presence in North America, EMEA, China and Other countries. It generates majority if the revenue from North America.
<h3>QuidelOrtho's Financial Performance</h3>
Market Capitalization Analysis: Positioned below industry benchmarks, the company's market capitalization faces constraints in size. This could be influenced by factors such as growth expectations or operational capacity.
Negative Revenue Trend: Examining QuidelOrtho's financials over 3 months reveals challenges. As of 30 June, 2024, the company experienced a decline of approximately -4.22% in revenue growth, reflecting a decrease in top-line earnings. When compared to others in the Health Care sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: QuidelOrtho's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of -23.19%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): QuidelOrtho's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of -4.56%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): QuidelOrtho's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of -2.21%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.87.
<h2>How Are Analyst Ratings Determined?</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

QDEL

Cracking The Code: Understanding Analyst Reviews For QuidelOrtho

4 analysts have expressed a variety of opinions on Hain Celestial Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAIN#NASDAQ">HAIN</a>) over the past quarter, offering a diverse set of opinions from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $8.5, a high estimate of $9.00, and a low estimate of $8.00. Witnessing a positive shift, the current average has risen by 9.68% from the previous average price target of $7.75.
<img src="https://www.benzinga.com/files/images/story/2024/1726779681_0.png" alt="price target chart" />
<h2>Investigating Analyst Ratings: An Elaborate Study</h2>
The standing of Hain Celestial Group among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Michael Lavery</td>
<td>Piper Sandler</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$8.00</td>
<td>$8.00</td>
</tr>
<tr>
<td>Andrew Lazar</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$9.00</td>
<td>$7.00</td>
</tr>
<tr>
<td>Brian Holland</td>
<td>DA Davidson</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$8.00</td>
<td>$8.00</td>
</tr>
<tr>
<td>Matthew Smith</td>
<td>Stifel</td>
<td>Raises</td>
<td>Hold</td>
<td>$9.00</td>
<td>$8.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Hain Celestial Group. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Hain Celestial Group compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Hain Celestial Group's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Capture valuable insights into Hain Celestial Group's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/HAIN/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Hain Celestial Group analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>Unveiling the Story Behind Hain Celestial Group</h2>
The Hain Celestial Group Inc is a health and wellness company. It makes natural and organic food and personal-care products. The company offers products across various categories such as snacks, baby &amp; kids food, beverages, meal preparation, and personal care through brands like Garden Veggie Snacks, Terra chips, Garden of Eatin snacks, Hartley's Jelly, and Celestial Seasonings teas among others. It operates under two reportable segments; North America and International. The majority of its revenue is derived from the North America segment which represents the sale of its products in the United States and Canada. The International segment includes the sale of its products in the United Kingdom and the Western European region.
<h3>Unraveling the Financial Story of Hain Celestial Group</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Hain Celestial Group's revenue growth over a period of 3 months has faced challenges. As of 30 June, 2024, the company experienced a revenue decline of approximately -6.48%. This indicates a decrease in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Consumer Staples sector.
Net Margin: Hain Celestial Group's net margin excels beyond industry benchmarks, reaching -0.7%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Hain Celestial Group's ROE stands out, surpassing industry averages. With an impressive ROE of -0.31%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Hain Celestial Group's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of -0.14%, the company may face hurdles in achieving optimal financial returns.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.89.
<h2>The Basics of Analyst Ratings</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

HAIN

Demystifying Hain Celestial Group: Insights From 4 Analyst Reviews

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