Redwoods Acquisition Corp. - Rights Stock (NASDAQ: RWODR)

Latest News for Redwoods Acquisition Corp. - Rights Stock (NASDAQ:RWODR)

Redwoods Acquisition Corp. - Rights

CTXR

Trading Halt: Halted at 6:55:00 a.m. ET - Trading Halt: Halt News Pending

On Friday, May 20th, U.S. stock markets closed mixed, with the Nasdaq reaching a record high and the S&amp;P 500 rising slightly as technology stocks surged ahead of Nvidia&#8217;s earnings and speculation on a potential Federal Reserve rate cut.
The S&amp;P 500 technology sector led gains among the 11 major S&amp;P sectors, driven by chipmakers like Nvidia, while consumer staples, discretionary, and financial astocks recorded the&nbsp;biggest&nbsp;losses.
The Dow Jones Industrial Average was down 0.49% and closed at 39,806.77. The S&amp;P 500 gained 0.09%, ending the day at 5,308.13, while the Nasdaq Composite rose 0.65%, finishing the session at 16,794.87.
Asia Markets Today
<ul>
<li>On Tuesday, Japan&#8217;s Nikkei 225 declined 0.35%, ending the session at 38,953.50. This reversed early gains as investors locked in profits and real estate stocks faced selling due to rising Japanese long-term interest rates.</li>
<li>Australia&#8217;s S&amp;P/ASX 200 index closed lower by 0.15% at 7,851.70, as a sell-off in James Hardie and Sonic Healthcare offset gains in tech stocks.</li>
<li>India&#8217;s Nifty 50 was up 0.11% at 22,526.70, and Nifty 500 was trading higher by 0.21% at 21,188.05.</li>
<li>China&#8217;s Shanghai Composite was down 0.42%, ending the session at 3,157.97, and the Shenzhen CSI fell 0.40%, closing at 3,676.16.</li>
<li>Hong Kong&#8217;s Hang Seng ended the session lower by 2.12% at 19,220.62.</li>
<li>Hong Kong stocks saw their biggest drop in five weeks, retreating from 10-month highs as Li Auto&#8217;s earnings missed expectations, sparking concerns about corporate performance in China&#8217;s economy.</li>
</ul>
&nbsp;Eurozone at 06:00 AM ET
<ul>
<li>The European STOXX 50 index was down 0.81%.</li>
<li>Germany&#8217;s DAX declined 0.56%.</li>
<li>France&#8217;s CAC slid 1.05%.</li>
<li>U.K.&#8217;s FTSE 100 traded lower by 0.41%.</li>
<li> Commodities at 06:00 AM ET</li>
<li>Crude Oil WTI was trading lower by 1.13% at $78.40/bbl, and Brent was down 1.17% at $82.73 bbl.</li>
<li>Natural Gas gained 0.36% to $2.760.</li>
<li>Gold was trading lower by 0.80% at $2,418.60, Silver slid 2.02% to $31.775, while Copper was down 0.16% to $5.0705.</li>
</ul>
US Futures at 06:00 AM ET&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
Dow futures were down 0.04%, S&amp;P 500 futures declined 0.02%, and Nasdaq 100 Futures fell 0.12%.
Forex at 06:00 AM ET
The U.S. Dollar Index slid 0.07% to 104.49, USD/JPY was down 0.05% at 156.15, and USD/AUD declined 0.01% to 1.4995.
Photo by Pavel Bobrovskiy via Shutterstock

News

Emerging Markets

Eurozone

Futures

Commodities

Forex

Markets

ADIV

AGOV

ASHR

BBEU

BOIL

CQQQ

PowerShares DBmmodity Index Optimum Yield Diversified Fund

EEMA

FLAX

CurrencyShares British Pound Sterling Trust

IEMG

IEUR

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

KDIV

SPEM

USDU

PowerShares DB US Dollar Index Bullish Fund

Asia And European Markets Dip, Crude Falls 1% While Gold Trades Above $2,400 - Global Markets Today While US Slept

A coalition of&nbsp;Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shareholders is urging investors to reject CEO&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38935019/i-did-not-ask-for-it-elon-musk-thanks-tesla-team-for-putting-together-video-urging-shareholders-to-v" rel="noreferrer noopener">Elon&nbsp;Musk</a><a target="_blank" href="https://www.benzinga.com/news/24/05/38935019/i-did-not-ask-for-it-elon-musk-thanks-tesla-team-for-putting-together-video-urging-shareholders-to-v" rel="noreferrer noopener">&#8216;s&nbsp;$56 billion pay package</a>&nbsp;ahead of&nbsp;the&nbsp;EV&nbsp;giant&#8217;s&nbsp;annual meeting&nbsp;next month.
What Happened: According to&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-05-20/tesla-shareholder-group-slams-musk-s-56-billion-pay-package" rel="noreferrer noopener">Bloomberg</a>, a group of Tesla shareholders, including&nbsp;Amalgamated Bank&nbsp;and&nbsp;SOC Investment Group, is pushing for a vote against&nbsp;Musk&#8217;s&nbsp;pay package. They argue that Musk is too distracted by his other ventures and not prioritizing&nbsp;Tesla&#8217;s&nbsp;interests.
The group also recommends voting against the reelection of directors Kimbal Musk and James Murdoch. They claim Tesla is experiencing a significant governance issue that needs immediate attention.
Musk&#8217;s&nbsp;compensation plan, approved in 2018, awarded him equity as&nbsp;Tesla&#8217;s&nbsp;market cap grew and&nbsp;operational targets were met. However, a Delaware judge voided the agreement in January, citing shareholder interest concerns.
"Even as&nbsp;Tesla's&nbsp;performance is floundering, the board has yet to ensure that Tesla has a full-time CEO who&nbsp;is adequately focused&nbsp;on the long-term sustainable success of our company,"&nbsp;the group wrote in a letter on Monday.
Why It Matters: Shareholder discontent is not new. In April 2023, a group of investors, including&nbsp;Amalgamated Bank,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/23/04/31947707/tesla-investors-slam-elon-musk-in-open-letter-the-board-has-allowed-the-ceo-to-be-overcommitted" rel="noreferrer noopener">penned an open letter</a>&nbsp;to&nbsp;Tesla&#8216;s&nbsp;board criticizing&nbsp;Musk&#8217;s&nbsp;divided attention due to his involvement in other ventures like&nbsp;Twitter,&nbsp;SpaceX, and&nbsp;The Boring Company. They argued that&nbsp;Musk&#8217;s&nbsp;overcommitment was detrimental to Tesla amid growing competition and regulatory scrutiny.
In May, Tesla launched a dedicated&nbsp;&#8220;Vote Tesla&#8221;&nbsp;website&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38865762/musk-goes-all-in-for-mega-payday-as-tesla-targets-growing-retail-investor-army-with-dedicated-websit" rel="noreferrer noopener">to engage retail investors</a>, who hold approximately 42% of the&nbsp;company&#8217;s&nbsp;shares. The board also enlisted a strategic advisor and an external law firm to spearhead the campaign to reapprove&nbsp;Musk&#8217;s&nbsp;pay package.
A legal expert believes Tesla is seeking shareholder approval for the old pay package rather <a href="https://www.benzinga.com/markets/equities/24/05/38889994/why-cant-tesla-just-grant-elon-musk-a-new-pay-package-critic-and-legal-expert-says-ceo-cant-repl" target="_blank" rel="noreferrer noopener">than creating a new one</a> as Musk cannot replicate the stock-pumping feats from 2018.
See Also: <a href="https://www.benzinga.com/markets/asia/24/05/38934510/teslas-top-chinese-rival-rocked-by-strike-as-workers-protest-income-cutting-work-schedule-report" target="_blank" rel="noreferrer noopener">Tesla&#8217;s Top Chinese Rival Rocked By Strike As Workers Protest Income-Cutting Work Schedule: Report</a>
Image created using photos on Shutterstock

Management

Tech

Media

TSLA

Tesla Shareholder Coalition Urges Other Investors To Reject Elon Musk's $56B Pay Package, Calls For 'Adequately-Focused' Full-Time CEO

Keefe, Bruyette &amp; Woods analyst David Konrad maintains JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) with a Market Perform and raises the price target from $203 to $209.

Price Target

Analyst Ratings

Keefe, Bruyette & Woods Maintains Market Perform on JPMorgan Chase, Raises Price Target to $209

WIIM

Amer Sports shares are trading higher following Q1 financial results.

Amer Sports (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AS#NYSE">AS</a>) reported quarterly earnings of $0.08 per share. The company reported $1.18 billion in sales this quarter.

Earnings

Amer Sports Q1 Adj $0.08 Compared With $0.07 YoY, Sales $1.18B Compared With $1.050B YoY

HC Wainwright &amp; Co. analyst Joseph Pantginis reiterates Actinium Pharma (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/ATNM#AMEX">ATNM</a>) with a Buy and maintains $50 price target.

Reiteration

ATNM

HC Wainwright & Co. Reiterates Buy on Actinium Pharma, Maintains $50 Price Target

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

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

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

Equities

Large Cap

CRAK

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

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

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

CEIX

CONSOL Energy Coal Shipments Resume from Its Marine Terminal in Baltimore

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

SABS

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

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

GLBE

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

HSAI

Hesai Group shares are trading lower following Q1 earnings.

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

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

PSNY

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

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

Contracts

General

ESLT

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

GSX Techedu Inc. American Depositary Shares

GOTU

Gaotu Techedu shares are trading lower following Q1 financial results.

Zoom shares are trading lower following Q1 earnings.

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