Latest News for Shimizu Stock (OTC:SHMUY)

Shimizu Corp operates a construction business, and utilizes technology and engineering capabilities to meet customers' needs. It constructs large offices, factories, residential properties, and other large projects. Technology that Shimizu utilizes can revolve around energy-related concerns, disaster prevention, or improve the functionality of structures. The company has three operating segments: construction (the majority of total revenue), real estate development, and other related businesses. The firm generates additional revenue from operation and management services after construction is completed. Japan accounts for the majority of total revenue, but it will take orders from multinational enterprises and customers in different regions.

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JADE GLOBAL HOLDINGS INC by Jade Global Holdings, Inc.

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Southern Copper shares are trading higher amid strength in copper prices.

Meta shares are trading lower on reports the EU will open a probe into the company due to handling of disinformation.

HC Wainwright &amp; Co. analyst Raghuram Selvaraju maintains Longeveron (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGVN#NASDAQ">LGVN</a>) with a Buy, adjusts target to $12 from $6.

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HC Wainwright & Co. Maintains Buy on Longeveron, Adjusts Price Target To $12

Freeport-McMoRan shares are trading higher amid a rise in copper prices.

Escalating electricity needs from running AI data centers will create downstream investment benefits in the utilities, renewable energy generation, and industrial sectors, according to Goldman Sachs. 
In a recently published study, equity analyst Carly Davenport has listed a basket of stocks positioned to benefit from the potential massive surge <a href="https://www.benzinga.com/topic/artificial-intelligence">in U.S. power demand. </a>
The investment bank forecasts that data center power demand will grow at 15% compound annual growth rate from 2023-2030. This growth trajectory is expected to elevate data centers&#8217; share of total US power demand to 8% by 2030, up from the current level of approximately 3%.
The &#8220;U.S. power demand (is) likely to experience growth not seen in a generation. Not since the start of the century has US electricity demand grown 2.4% over an eight-year period, with US annual power generation over the last 20 years averaging less than 0.5% growth,&#8221; Goldman Sachs highlights. 
Analysts estimate that about 47 GW of additional power generation capacity will be necessary to accommodate the growth in U.S. data center power demand by 2030. This demand is anticipated to be met by approximately 60% gas and 40% renewable sources. 
The projection suggests that this trend will drive approximately $50 billion in capital investment in U.S. power generation capacity by 2030.
Goldman Sachs has pinpointed 16 stocks rated as &#8220;buy&#8221; across various sectors, including Utility, Clean Technology, Midstream, Energy Services, Industrials, and Industrial Tech. 
The highlighted stocks are as follows:
<h3 class="wp-block-heading">Power Demand Growth Beneficiaries</h3>
<ul>
<li>Vertiv Holdings Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NASDAQ">VRT</a>): Solid market presence in thermal cooling and power management offerings.</li>
<li>NextEra Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>): Renewable sector strategically positioned for AI data loads and available interconnection queues.</li>
<li>Cameco Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCJ#NYSE">CCJ</a>): Provider of clean energy storage solutions for data centers&#8217; backup power needs.</li>
<li>EQT Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQT#NYSE">EQT</a>): Beneficiary of rising nuclear power capacity as a uranium producer and nuclear fuel supplier.</li>
<li>Fluence Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLNC#NASDAQ">FLNC</a>): Natural gas producer poised to capitalize on heightened demand resulting from electric load expansion.</li>
</ul>
<h3 class="wp-block-heading">Power Generation Capacity Additions</h3>
<ul>
<li>Xcel Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XEL#NASDAQ">XEL</a>): Regulated utility exposed to power generation needs to support data center growth in Midwest Independent Transmission System Operator. </li>
<li>First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>): Primary manufacturer and supplier of solar panels for utility-scale solar farms across the United States.</li>
<li>Southern Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>): Regionally positioned regulated utility poised to meet the escalating demand from data centers through strategic investment in generation.</li>
<li>GE Vernova (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>): Positioned to profit from sustained growth trends as a supplier of power generation assets.</li>
</ul>
<h3 class="wp-block-heading">Power Infrastructure Investment Needs</h3>
<ul>
<li>Quanta Services Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWR#NYSE">PWR</a>): Specialty contractor specializing in utilities construction, poised to reap rewards from increased electricity demand.</li>
<li>MYR Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYRG#NASDAQ">MYRG</a>): Involved in data centers through transmission and distribution (T&amp;D) projects, establishing prominence as a key player in electrical contracting.</li>
<li>DBA Sempra (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRE#NYSE">SRE</a>): Utility allocating substantial capital expenditure on T&amp;D infrastructure to bolster the expansion of data centers in Texas.</li>
<li>Kinder Morgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>): The leading operator of natural gas pipelines in the United States, set to profit from the rising demand for gas-fired generation.</li>
</ul>
<h3 class="wp-block-heading">Industrial Supply Chain Beneficiaries</h3>
<ul>
<li>Eaton Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETN#NYSE">ETN</a>): Manufacturer of electrical components poised to capitalize on the sustained increase in power demand.</li>
<li>nVent Electric plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVT#NYSE">NVT</a>): Key player in liquid cooling technology, forecasting double-digit business growth within the Data Solutions sector.</li>
<li>Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>): Construction equipment company capable of supplying generator sets to data centers for backup power needs.</li>
</ul>
AI Data Centers&#8217; Demand Set To Triple By 2030: After experiencing relatively flat growth from 2015 to 2019, Goldman Sachs anticipates that power demand from data centers will more than triple by 2030 compared to 2020 levels. 
According to analyst estimates, there is an upside scenario where demand could more than double the base case, influenced partly by improvements in product efficiencies and increased demand for AI-related technologies.
&#8220;There could be meaningful upside to our base case if appetite for purchase and utilization of servers is unconstrained,&#8221; Davenport stated. 
&#8220;There could be downside to our base case if power efficiency is higher than expected or if power/compute speed efficiencies lead to fewer servers purchased than expected,&#8221; the analyst added. 
Read now:<a href="https://www.benzinga.com/markets/asia/24/04/38494691/japan-intervenes-to-support-struggling-yen-why-did-it-trigger-nikkei-225-dip-4-charts-to-watch"> Japan Intervenes To Support Struggling Yen: Why Did It Trigger Nikkei 225 Dip? 4 Charts To Watch</a>
Image generated using artificial intelligence via Midjourney.

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AI Data Centers Drive Electricity Demand: Goldman Sachs Picks 16 Stocks To Play The Trend

Rivian Automotive, Inc. &nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) shares are trading higher Monday. The company revealed its next-generation Rivian Adventure Network DC fast <a href="https://www.benzinga.com/news/24/04/38480717/rivian-unveils-new-charger-design-opens-adventure-network-to-other-evs">charging network on Friday.&nbsp;</a>
What To Know:
Rivian plans to<a href="https://rivian.com/newsroom/article/rivian-showcases-next-generation-charger-designed-for-all-evs"> begin opening</a> its fast-charging network to other EVs later in 2024 and showcased a prototype of its new, in-house charger.
The new charger is taller and features a longer cable to accommodate differences in vehicle charging port placement and will deliver rapid charging to both 400 and 800-volt packs and feature CCS connectors with support for North American Charging Standard (NACS)-equipped vehicles with an approved adapter. Support for native NACS, also known as SAE J3400, will come with a future hardware update.
"Rivian exists to address two specific needs, the electrification of our transportation system and supporting the transition of our power grid to carbon-free energy sources," said Paul Frey, Rivian Vice President of Battery, Charging, and Adventure Products. "By broadening access to our Rivian Adventure Network—powered by 100% renewable energy—we are supporting both of these critical goals while also encouraging more people to embark on their next adventure in an EV."
Related News: <a href="https://www.benzinga.com/news/24/04/38469297/whats-going-on-with-immunitybio-stock">What&#8217;s Going On With ImmunityBio Stock?</a>
<h2 class="wp-block-heading">RIVN Stock Prediction 2024: </h2>
Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.
Shares of Rivian Automotive have an average 1-year price target of $15.65, representing an expected upside of 69.37%.
Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. 3 analysts have bearish recommendations on Rivian Automotive, while 14 analysts have bullish ratings. The street high price target from Evercore ISI Group is $25, while the street low from UBS is $8.
RIVN Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Rivian Automotive shares are up 2.93% at $9.30 at the time of publication Monday.
Image: Courtesy of Rivian Automotive, Inc.

RIVN

What's Going On With Rivian Automotive Stock?

MorphoSys AG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MOR#NASDAQ">MOR</a>) is reportedly facing a burgeoning safety concern surrounding pelabresib, an experimental myelofibrosis treatment.
Myelofibrosis is a type of blood cancer characterized by the buildup of scar tissue, called &#8220;fibrosis,&#8221; in the bone marrow.
Physicians participating in MorphoSys&#8217; Phase 3 study have observed instances when patients treated with pelabresib swiftly transitioned from myelofibrosis to acute myeloid leukemia (AML), a more aggressive form of blood cancer.
Citing sources familiar with the cases, STAT News <a href="https://www.statnews.com/2024/04/28/morphosys-novartis-pelabresib-safety-myelofibrosis/" target="_blank" rel="noreferrer noopener">noted</a> physicians saw several instances of patients undergoing such rapid progression. 
Among 212 patients receiving&nbsp;pelabresib, six serious safety events of &#8220;AML transformation&#8221; were reported, compared to only two events among 214 patients in the control group.
Pelabresib has been the centerpiece of MorphoSys&#8217; <a href="https://www.benzinga.com/general/biotech/24/02/36954650/novartis-agrees-to-acquire-german-blood-cancer-drug-developer-morphosys-for-2-7b" target="_blank" rel="noreferrer noopener">proposed 2.7 billion euro ($2,894,958,900</a>) <a href="https://www.benzinga.com/general/biotech/24/02/36954650/novartis-agrees-to-acquire-german-blood-cancer-drug-developer-morphosys-for-2-7b" target="_blank" rel="noreferrer noopener">acquisition</a> by Novartis AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>).
The deal is expected to close in the first half of 2024.
See Also: <a href="https://www.benzinga.com/general/biotech/24/04/38495852/why-is-cancer-focused-deciphera-pharmaceuticals-stock-skyrocketing-on-monday">Why Is Cancer-Focused Deciphera Pharmaceuticals Stock Skyrocketing On Monday?</a>
In the deal press release, MorphoSys CEO Jean-Paul Kress said, &#8220;Pelabresib — the investigational therapy at the forefront of our promising oncology pipeline — has the potential to shift the treatment paradigm in myelofibrosis and further expand into other indications. Novartis will provide ample resources currently unavailable to MorphoSys as a standalone biotech company to help accelerate the development opportunities and maximize the commercialization potential of pelabresib at a greater speed and scale.&#8221; 
The FDA was alerted about this imbalance in severe cancer advancements. It issued a cautionary letter to all physicians involved in the study and is closely monitoring the situation. 
Despite this setback, MorphoSys affirmed its acquisition by Novartis is still on track to finalize in the first half of this year.
&#8220;We generally do not discuss our interactions with regulatory authorities publicly. We remain confident in the benefit-risk profile of the combination of&nbsp;pelabresib&nbsp;and ruxolitinib,&#8221; a Morphosys spokesperson said in an emailed response to Reuters.
&#8220;The planned acquisition by Novartis is progressing steadily,&#8221; they added.
In November, the company released topline results from the Phase 3 MANIFEST-2 study investigating&nbsp;pelabresib&nbsp;in combination with the JAK inhibitor ruxolitinib compared with placebo plus ruxolitinib in JAK inhibitor-naïve&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/23/11/35891681/why-is-cancer-focused-morphosys-stock-trading-lower-today" rel="noreferrer noopener">patients with myelofibrosis</a>.
MOR Price Action: MorphoSys shares are down 3.38% at $17.43 at publication Monday.
Read Next: <a href="https://www.benzinga.com/general/biotech/24/04/38495635/fda-approves-x4-pharmaceuticals-mavorixafor-as-first-therapy-for-rare-immunodeficiency-disorder">FDA Approves X4 Pharmaceuticals&#8217; Mavorixafor As First Therapy For Rare Immunodeficiency Disorder</a>
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Morgan Stanley Capital Protected Notes for S&P 500 Index

MorphoSys Says Novartis Deal Progressing Steadily Despite Safety Concerns Over Bone Marrow Cancer Drug, Pelabresib

Boeing shares are trading higher after the company reportedly received $77 billion in orders for its bond sale.

Citigroup analyst Michael Ward maintains Willis Towers Watson (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WTW#NASDAQ">WTW</a>) with a Buy and lowers the price target from $315 to $312.

Citigroup Maintains Buy on Willis Towers Watson, Lowers Price Target to $312

A 53-year-old trucker named Donny called into "The Ramsey Show"&nbsp; asking Dave Ramsey and co-host Dr. John Delony for advice on finding a way out of his distressing circumstances.
Donny's initial admission set the tone. &#8220;I'm 53 years old, have absolutely nothing for retirement, I'm $50,000 in debt, and I want a divorce,&#8221; he said.&nbsp;
Don't Miss:
<ul>
<li>The<a href="https://www.benzinga.com/money/public-hys-avgamerican"> shocking amount the average American would save by now</a> if they started an account in 2010 with today&#8217;s high yield savings rates will make you run to open your own.</li>
<li>The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?</li>
</ul>
His voice conveyed the gravity of a situation that had been deteriorating over the years, exacerbated by his career as an over-the-road truck driver that kept him away from home and out of the loop on financial matters. The conversation delved into the details of his failing marriage and financial disarray.&nbsp;
&#8220;It's just been building over the last 10 years," he said. "I was in a sweet spot, we were in a sweet spot; no debt, six months of living expenses saved.&#8221;&nbsp;
However, a series of poor financial decisions by his wife, including doubling their rent and racking up credit card debt, led to a dire financial state and the discovery of a $30,000 tax debt owed to the IRS.
Ramsey's response was blunt, focusing on the root of the problem.
&#8220;You guys suck at communication beyond belief,&#8221; he said. He highlighted the lack of teamwork in handling their finances, noting that while Donny was away, his wife made financial decisions that undermined their previous successes.
The depth of their marital issues came to light as Ramsey explored the implications of Donny's desire for a divorce, emphasizing that the financial problems were just symptoms of a deeper relational breakdown.&nbsp;
<hr class="wp-block-separator has-alpha-channel-opacity" />
Trending: Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/red-ventures"> The percentage may shock you</a>.
<hr class="wp-block-separator has-alpha-channel-opacity" />
&#8220;You want a divorce. &#8230; That&#8217;s a symptom of behaviors, attitudes and beliefs that you all are harboring,&#8221; Ramsey said.
He provided practical advice for tackling the immediate financial issues: contacting a tax professional through Ramsey Solutions to set up a payment plan with the IRS. He also stressed the importance of addressing the underlying issues in their marriage.&nbsp;
&#8220;Until you can get them paid off, you&#8217;re going to continue to have financial problems as long as you are not communicating and aligned on where we are going,&#8221; Ramsey said.
While Ramsey offered a clear path forward, his demeanor throughout the conversation might have surprised some listeners. Donny&#8217;s situation, unfortunately, isn't uncommon. According to the 2022 Survey of Consumer Finances, nearly half of American households lack retirement savings. This statistic highlights the prevalence of financial struggles across the nation.&nbsp;
Despite the widespread nature of the problem, Ramsey didn&#8217;t shy away from emphasizing accountability. He pinpointed the lack of communication within the marriage as a significant contributing factor, a point that resonated throughout the episode.
Even if you find yourself in a situation similar to Donny&#8217;s, with no retirement savings and mounting debt, it&#8217;s important to remember that it&#8217;s never too late to take control of your financial future. You may want to <a href="https://www.benzinga.com/money/smartasset">consider consulting a financial adviser</a>. They can help you assess your circumstances, create a personalized plan and ensure you&#8217;re on track to achieve your retirement goals.&nbsp; An adviser can also help you maximize your current savings and investments so you can retire comfortably and enjoy the lifestyle you desire.
Read Next:
<ul>
<li>82% of Americans aren&#8217;t using<a href="https://www.benzinga.com/money/public-hys"> this government secured 5% passive income stream</a>, are you one of them?</li>
<li>If the United States had access to<a href="https://www.benzinga.com/money/public-hys-avgamerican"> today&#8217;s high-yield savings accounts rates</a> in 2015, it wouldn&#8217;t need to save another penny.</li>
</ul>

Personal Finance

'I'm 53 Years Old, Have Absolutely Nothing For Retirement, I'm $50,000 In Debt, And I Want A Divorce' — Dave Ramsey's Advice To Truck Driver

<a href="https://variety.com/2024/digital/news/peacock-price-increase-july-2024-1235985399/">https://variety.com/2024/digital/news/peacock-price-increase-july-2024-1235985399/</a>
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<a href="https://variety.com/t/nbcuniversal/">NBCUniversal</a> is looking to wring more money out of <a href="https://variety.com/t/peacock/">Peacock</a> subscribers, with the streamer set to raise prices this summer — <a href="https://variety.com/2023/digital/news/peacock-price-increase-1235672565/">one year after its last fee hike</a>.
Beginning in mid-July, the price for Peacock Premium (with ads) will increase by $2 to $7.99 per month and Peacock Premium Plus (mostly ad-free) is also going up by $2 to $13.99 per month. Peacock Premium's annual price will increase from $59.99 to $79.99, while Premium Plus is going from $119.99 to $139.99 per year.
The new prices will be effective starting July 18 for new Peacock customers and for existing subscribers with their next billing date on or after Aug. 17.
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The Peacock Premium Plus tier provides ad-free content, the ability to download episodes and live local NBC channels. Due to streaming rights, per NBCU, a "small amount of programming" still contains ads on some Peacock channels, events, and a few shows and movies.
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As of the <a href="https://variety.com/2024/tv/news/comcast-q1-profit-cord-cutting-peacock-ad-spend-1235981759/">end of the first quarter of 2024</a>, the U.S.-only Peacock service had 34 million subscribers, fewer than rival streamers like Netflix and Disney+. That was up 55% year-over-year and a net gain of 3 million Peacock subs in Q1; average revenue per subscriber in the quarter was $10/month. "Looking ahead, our content offering provides such great value proposition that we should have some real pricing power over time," Comcast president Michael Cavanagh said on the earnings call last week. Cavanagh said Peacock's <a href="https://variety.com/2024/digital/news/peacock-signups-nfl-wild-card-game-chiefs-dolphins-1235885957/">streaming-only NFL Wild Card game between the Chiefs and Dolphins</a> on Jan. 13 resulted in the service adding and then retaining "even more new Peacock subscribers than we expected."
The Peacock price increases demonstrate that NBCU — after introducing low-price and even a free, ad-supported tier when the product launched in 2020 to attract consumers — has refocused on making the direct-to-streaming business profitable. The company last year <a href="https://variety.com/2023/digital/news/peacock-ends-free-tier-nbcuniversal-1235508588/">shut down Peacock's free tier for new users</a> and <a href="https://variety.com/2023/digital/news/comcast-xfinity-subs-losing-peacock-free-access-1235520530/">stopped bundling Peacock Premium for free for Comcast's Xfinity customers</a>.
NBCU touts Peacock's annual lineup of nearly 100,000 programming hours. That includes exclusive streaming windows on Universal movies, next-day NBC and Bravo episodes, Peacock originals, and more than 8,000 hours of live sports. In the first quarter of 2024, Peacock had its most-streamed movie to date — Oscar-winner "Oppenheimer" — as well as its most-streamed original comedy, "Ted," and most-streamed original unscripted series, "The Traitors."
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Recent Peacock originals include series like "Apples Never Fall," "Poker Face," "Bel-Air," "Based on a True Story," "The Best Man: The Final Chapters" and "Twisted Metal." Upcoming titles to premiere this year include "Those About to Die," "Fight Night," "Hysteria" and "Day of the Jackal,"; new seasons of return shows like "Bel-Air" and "Love Island USA" as well as titles from Universal Filmed Entertainment including "The Fall Guy," Illumination's "Despicable Me 4" and "Twisters," following their theatrical runs.
This summer for the 2024 Paris Olympic Games, NBCU has boasted that it will deliver more streaming content than ever, with 5,000 hours of coverage. That will include features like Peacock Live Actions and Peacock Discovery Multiview, along with programming like the "Gold Zone" whip-around show and "Watch With Alex Cooper" interactive watch parties. 
In addition, for the 2024 NFL season, Peacock will exclusively stream the Friday night opening game on Sept. 6 between the Philadelphia Eagles and Green Bay Packers live from São Paulo, Brazil. Other exclusive sports content on the streamer includes Premier League soccer, WWE events, Big Ten football and basketball, golf, rugby, cycling, motorsports events and more.

CMCSA

"Peacock Hiking Prices for Second Time In Two Years" - Variety

Restaurants across California are reportedly implementing menu price hikes following the state&#8217;s increase in minimum wage for fast-food workers.
This&nbsp;surge in prices&nbsp;has been observed at various fast-food and fast-casual chains throughout the Golden State, outpacing other regions, according to a&nbsp;<a target="_blank" href="https://www.wsj.com/business/hospitality/california-fast-food-chains-are-now-serving-sticker-shock-64009282?mod=hp_trending_now_article_pos2" rel="noreferrer noopener">report&nbsp;</a>from the WSJ, which cited market research firm Datassential.
Since September, when California mandated large fast-food chains to elevate their minimum hourly pay to $20 by April, restaurants statewide have collectively increased prices by 10%.
Notably, this increment surpassed the price adjustments seen in other states, according to Datassential&#8217;s analysis of over 70 major chains, the report noted.
Chipotle Mexican Grill Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>), for instance,&nbsp;disclosed a 6% to 7% price surge at its nearly 500 California locations during the first week of April compared to the previous year.
Chipotle&#8217;s Chief Executive Brian Niccol highlighted the challenges imposed by the state&#8217;s regulations.
In response to the wage law, major fast-food chains like McDonald&#8217;s Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), Jack in the Box Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JACK#NASDAQ">JACK</a>), and Shake Shack Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHAK#NYSE">SHAK</a>) have planned to raise prices, estimating significant additional labor costs per restaurant, as per the report.
Despite opposition from some quarters, the wage law remains supported by advocates like California Governor Gavin Newsom. They argue that increased wages will benefit workers and stimulate local economies.
As consumers reassess their spending in light of escalating prices, independent eateries emerge as viable alternatives. The California wage law doesn&#8217;t apply to restaurants with less than 60 national locations.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

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California Restaurants Dish Out Price Hikes: Menu Costs Reportedly Surge Amid Minimum Wage Increase

RBC Capital analyst Arun Viswanathan maintains LyondellBasell Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYB#NYSE">LYB</a>) with a Outperform and raises the price target from $107 to $113.

RBC Capital Maintains Outperform on LyondellBasell Industries, Raises Price Target to $113

Clever Leaves Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLVR#NASDAQ">CLVR</a>) shares are trading lower by 62% to $1.56 during Monday&#8217;s session after the company announced that it will voluntarily delist its common shares from the Nasdaq and deregister its Securities to terminate and suspend its <a href="https://www.benzinga.com/pressreleases/24/04/g38470427/clever-leaves-announces-voluntary-delisting-and-sec-deregistration">reporting obligations</a>.
The company notified Nasdaq of its intention and plans to file necessary forms with the SEC on or about May 6, with the last day of trading expected to be around May 16. After delisting, the company will file a Form 15 to suspend its reporting obligations, with the deregistration expected to become effective 90 days after filing. 
The decision reflects the board&#8217;s assessment of various factors, including potential non-compliance with Nasdaq listing requirements, personnel resources and high costs associated with regulatory burdens.
See Also: <a href="https://www.benzinga.com/general/macro-notification/24/04/38491988/federal-reserve-meeting-preview-high-interest-rates-need-more-time-to-work-bank-of-ame">Federal Reserve Meeting Preview: High Interest Rates &#8216;Need More Time To Work,&#8217; Bank of America Says</a>
According to data from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, CLVR has a 52-week high of $8.95 and a 52-week low of $1.52.

CLVR

Why Clever Leaves (CLVR) Stock Is Down 60%

Citigroup analyst Atif Malik maintains KLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>) with a Buy and raises the price target from $725 to $760.

KLAC

Citigroup Maintains Buy on KLA, Raises Price Target to $760

Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) shares are trading lower by 2.7% to $167.28 during Monday&#8217;s session after the stock surged last week on <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38467488/alphabets-blockbuster-results-highlight-its-transition-from-ai-laggard-to-going-on-">strong earnings</a>.
Alphabet, Google&#8217;s parent company, last announced a 15% year-over-year increase in first-quarter revenue to $80.539 billion, surpassing the expected $78.594 billion. Quarterly earnings stood at $1.89 per share, exceeding analyst predictions of $1.51 per share. 
This marks the fifth consecutive quarter where Alphabet has surpassed analyst estimates in both revenue and earnings&#8230;<a href="https://www.benzinga.com/news/earnings/24/04/38445001/alphabet-q1-earnings-revenue-beat-eps-beat-70b-buyback-first-ever-dividend-ai-leadership-and-more">Read More</a>
<h2 class="wp-block-heading">How To Buy Alphabet Stock</h2>
By now you're likely curious about how to participate in the market for Alphabet &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href='https://www.benzinga.com/money/best-stock-trading-platforms'>possible trading platforms here.</a> Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so. 
In the the case of Alphabet, which is trading at $167.9 as of publishing time, $100 would buy you 0.6 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.

GOOG

GOOGL

Why Alphabet Stock Is Lower Today

SkyBridge Capital founder Anthony Scaramucci will lead a discussion at Benzinga&#8217;s upcoming <a href="https://www.benzinga.com/events/crypto-revolution/">Crypto Revolution: Web3 and the Future of Finance</a> on Tuesday, April 30.
This online event, slated to begin at noon EST, will explore the evolving role of cryptocurrencies and Web3 technologies in reshaping the financial industry, including topics such as decentralized finance, NFTs, and blockchain applications.
<h3 class="wp-block-heading">Who&#8217;s Speaking?</h3>
Scaramucci will be joined by other industry leaders such as Zach Pandl, David Packham, Reid Simon, Jason Barraza, and Joey Garcia. Each expert brings a unique perspective on the digital disruption of financial systems.
<h3 class="wp-block-heading">Vision for a Digital Financial World</h3>
Jason Barraza, COO at Security Token Market, provided insight into the trajectory of asset tokenization, asserting, &#8220;The tokenization of RWAs is poised to become mainstream in the next five to eight years, with multiple asset classes, banks &amp; asset managers, and individual investors all coming on-chain.&#8221; He reflected on the substantial growth over the past six years, foreseeing no slowdown in the trend.
<h3 class="wp-block-heading">Blending Crypto and Conventional Finance</h3>
Reid Simon, head of credit at Securitize, discussed the emerging synergy between the crypto world and traditional financial institutions. He detailed, &#8220;Today, we&#8217;re seeing unprecedented convergence between two worlds: at the same time as crypto further embraces regulation, traditional institutions—who largely abstained from this roughly $3 trillion market—are now allocating through spot ETFs and tokenized securities in a very big way.&#8221; Simon emphasized Securitize&#8217;s critical role in this transition.
<h3 class="wp-block-heading">What&#8217;s at Stake?</h3>
The webinar promises a thorough discussion of how digital technologies are forging new paths in finance. It will touch on traditional financial institutions&#8217; acceptance of digital assets and the evolving regulatory frameworks. Attendees will gain an in-depth understanding of the opportunities and challenges at the intersection of technology and finance. <a href="https://www.benzinga.com/events/crypto-revolution/">Sign up today. </a>
Image: Flickr

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Events

Exclusives

Interview

What Does Web3 Mean For Your Wallet? Anthony Scaramucci Explains

<h3>Gainers</h3>
<ul>
<li>Mullen Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MULN#NASDAQ">MULN</a>) shares increased by 36.7% to $4.32 during Monday's regular session. The company's market cap stands at $28.3 million. </li>
<li>Worksport (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKSP#NASDAQ">WKSP</a>) stock moved upwards by 18.29% to $0.58. The market value of their outstanding shares is at $13.9 million. </li>
<li>Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock rose 17.77% to $198.2. The market value of their outstanding shares is at $632.1 billion. As per the press release, Q1 earnings came out 4 days ago. </li>
<li>Lead Real Estate Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRE#NASDAQ">LRE</a>) stock increased by 16.97% to $3.17. The company's market cap stands at $43.2 million. </li>
<li>SunCar Tech Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SDA#NASDAQ">SDA</a>) stock rose 15.59% to $8.82. The company's market cap stands at $777.0 million. As per the news, the FY earnings report came out today. </li>
<li>Lixiang Education Hldg (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LXEH#NASDAQ">LXEH</a>) stock rose 15.36% to $0.47. The company's market cap stands at $3.1 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Fitell (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTEL#NASDAQ">FTEL</a>) stock decreased by 17.0% to $6.64 during Monday's regular session. The market value of their outstanding shares is at $133.4 million. </li>
<li>Neo-Concept International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCI#NASDAQ">NCI</a>) stock decreased by 13.53% to $1.63. The market value of their outstanding shares is at $33.0 million. </li>
<li>Rent the Runway (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RENT#NASDAQ">RENT</a>) stock fell 11.82% to $9.7. The company's market cap stands at $35.6 million. </li>
<li>Faraday Future (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIE#NASDAQ">FFIE</a>) stock fell 11.28% to $0.04. The company's market cap stands at $1.7 million. </li>
<li>Cazoo Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CZOO#NYSE">CZOO</a>) stock decreased by 10.6% to $10.63. The market value of their outstanding shares is at $51.9 million. </li>
<li>Interactive Strength (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRNR#NASDAQ">TRNR</a>) stock declined by 9.54% to $0.19. The market value of their outstanding shares is at $3.6 million. 
See Also: <a href="http://www.benzinga.com/money/best-consumer-cyclical-stocks/" title="www.benzinga.com/money/best-consumer-cyclical-stocks/">www.benzinga.com/money/best-consumer-cyclical-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

CZOO

12 Consumer Discretionary Stocks Moving In Monday's Intraday Session

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Latest News for Shimizu Stock (OTC:SHMUY)

Friday, December 13, 2019

Friday, November 22, 2019