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TSLA

Tesla Shareholder Asks Judge To Keep Musk Pay Fight In Delaware

Piper Sandler analyst Alexander Potter maintains General Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) with a Neutral and raises the price target from $44 to $45.

Price Target

Analyst Ratings

Piper Sandler Maintains Neutral on General Motors, Raises Price Target to $45

Piper Sandler analyst Matt Farrell reiterates Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) with a Neutral and raises the price target from $300 to $320.

Reiteration

SPOT

Piper Sandler Reiterates Neutral on Spotify Technology, Raises Price Target to $320

Citigroup analyst Ronald Josey maintains Amazon.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) with a Buy and raises the price target from $215 to $235.

AMZN

Citigroup Maintains Buy on Amazon.com, Raises Price Target to $235

Piper Sandler analyst John Barnidge maintains Globe Life (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GL#NYSE">GL</a>) with a Overweight and lowers the price target from $130 to $110.

Piper Sandler Maintains Overweight on Globe Life, Lowers Price Target to $110

Piper Sandler analyst Justin Crowley maintains First Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRBA#NASDAQ">FRBA</a>) with a Overweight and lowers the price target from $16 to $15.

FRBA

Piper Sandler Maintains Overweight on First Bank, Lowers Price Target to $15

Vancouver-based miner Equinox Gold (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EQX#AMEX">EQX</a>) has solidified its ownership of the Greenstone Gold Mine in Ontario, Canada, by acquiring the remaining 40% stake from Orion Mine Finance for $995 million. Despite Australian miner <a href="https://www.benzinga.com/m-a/24/04/38253150/gold-road-considers-major-stake-in-greenstone-investors-wary-of-potential-high-costs">Gold Roads</a> showing interest in Orion's stake, Equinox managed to gain full ownership of what they describe as a "rare opportunity" in a stable and industry-friendly jurisdiction.
&#8220;Opportunities to own gold mines like Greenstone are incredibly rare. This acquisition strengthens our position and allows us to focus on advancing the mine toward commercial production,&#8221; <a href="https://www.equinoxgold.com/news/equinox-gold-consolidates-ownership-of-the-greenstone-gold-mine-arranges-term-loan-and-bought-deal-equity-financing/">stated</a> Equinox's CEO Greg Smith.
Greenstone Gold Mines is among the Canada&#8217;s largest and highest-grade open-pit gold mines. It is at the beginning of an expected 14-year mine life in a historically strong gold price environment. Equinox anticipates that acquiring the remaining stake will enhance its annual gold production by about 160,000 ounces per year, with production costs in the industry's lower quartile.
Beyond the immediate production boost, this acquisition is expected to deliver substantial benefits to Equinox shareholders in the long term. These include owning a world-class gold mine, increased production with significant growth in near-term earnings before interest, taxes, depreciation, and amortization (EBITDA), and cash flow per share. 
Equinox will also benefit from Greenstone&#8217;s underground deposit and multiple prospective gold deposits located nearby, which present a key expansion opportunity.
Now read: <a href="https://www.benzinga.com/m-a/24/04/38381679/g-mining-ventures-spends-638m-to-buy-reunion-gold-guyana-project">G Mining Ventures Spends $638M To Buy Reunion Gold Guyana Project</a>
Under the terms of the transaction, Equinox Gold will pay $995 million for Orion&#8217;s 40% stake, comprising 42 million shares valued at $250 million and $745 million in cash.
Equinox Gold will utilize a combination of funds to finance the cash portion of the deal. A new $500 million three-year term loan will come from a banking syndicate involving The Bank of Nova Scotia, Bank of Montreal, ING Capital and National Bank of Canada.  Meanwhile, an equity financing agreement for the issuance of common shares should raise an additional $260 million.
GenCap Mining Advisory acts as financial and debt advisor, while Blake, Cassels &amp; Graydon and Paul, Weiss, Rifkind, Wharton &amp; Garrison serve as Equinox Gold&#8217;s legal counsel. RBC Capital Markets is Orion&#8217;s financial advisor, and Torys provides legal counsel.
The transaction is expected to close in the second quarter of 2024, subject to customary closing conditions and receipt of regulatory approvals. It&#8217;s worth noting that this acquisition does not require shareholder approval from Equinox Gold.
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get started!
Also read: <a href="https://www.benzinga.com/news/24/04/38390383/copper-prices-approach-2-year-highs-whats-behind-analysts-12-000-price-prediction-for-2026">Copper Prices Approach 2-Year Highs: What&#8217;s Behind Analyst&#8217;s $12,000 Price Prediction For 2026?</a>
Photo: Shutterstock

Commodities

Equinox Gold Snaps Up Greenstone Gold Mines For $995M In 'Incredibly Rare' Deal

The Church of the Eagle and the Condor (CEC) announced on Monday that it settled its lawsuits with the Departments of Justice, Homeland Security, Customs and Border Protection and the DEA to use ayahuasca in its religious ceremonies.
Ayahuasca, a South American ceremonial hallucinogenic, is used socially and as spiritual medicine among the indigenous people and recently in Western culture. It contains DMT, a powerful hallucinogen that results in altered states of consciousness that purportedly can help those dealing with mental health issues. 
Some churches, like the CEC, use it for its sacred religious rituals. 
Ayahuasca, which has gained popularity over the past decade including<a href="https://www.benzinga.com/markets/cannabis/23/10/35276171/jada-pinkett-smith-opens-up-about-ayahuasca-it-helped-her-overcome-depression-and-suicidal-thoug" target="_blank" rel="noreferrer noopener"> among celebrities,</a> is classified as a Schedule I drug. The settlement obtained by the CEC was based on the Religious Freedom Restoration Act. 
"This Agreement permits CEC to import, receive, manufacture, distribute, transport, securely store, and dispose of ayahuasca solely for CEC's religious purposes," reads the&nbsp;<a target="_blank" href="https://www.churchofeagleandcondor.org/uploads/1/4/4/2/144296459/final_cec_agreement__signed_.pdf" rel="noreferrer noopener">settlement</a>. "CEC may not conduct any of these activities for non-religious purposes, including but not limited to recreational purposes. CEC may not use any DEA registrations subject to this Agreement to import, receive, manufacture, distribute, store, or use any other controlled substance."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Huge news! &#x1f514; This is the first time since the Native American Church use of peyote as religious practice that a church with an Indigenous lineage has been formally recognised &#x1f343; The precedent has been set! <a href="https://twitter.com/Chacruna_Inst?ref_src=twsrc%5Etfw">@Chacruna_Inst</a> <a href="https://t.co/J8uQGBkXKg">https://t.co/J8uQGBkXKg</a>
&mdash; Onaya Science (@Onaya_Science) <a href="https://twitter.com/Onaya_Science/status/1782739308979380447?ref_src=twsrc%5Etfw">April 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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CEC officials <a href="https://www.churchofeagleandcondor.org/settlement.html" target="_blank" rel="noreferrer noopener">said</a> in the press release that it is the first non-Christian church to receive protection for its spiritual practices and that this is the first time in history a church's right to import and share its sacrament has been secured without going to trial. 
"This settlement reaffirms our right to practice our spirituality as we have always known. It is a recognition by the U.S. government and an important milestone in honoring and validating Indigenous belief systems,&#8221; stated Belinda P. Eriacho, a CEC board member. &#8220;We are grateful for the support of our donors, legal team, community, and Grandmother Ayahuasca. The Church is committed to our mission of spiritual unity of all people with the Creator." 
<h2 class="wp-block-heading">DEA Denies Psilocybin Use Under 'Right To Try'&nbsp;</h2>
Meanwhile, the DEA recently urged the Ninth Circuit Court Of Appeal to stop a physician&#8217;s effort to use psilocybin to treat depression in patients dying from cancer, <a href="https://www.greenmarketreport.com/dea-resists-permitting-psilocybin-for-terminal-patients-under-right-to-try/" target="_blank" rel="noreferrer noopener">reported</a> Green Market Report citing Law360. Psilocybin, the active compound in magic mushrooms, has been shown to provide therapeutic relief for end-of-life depression and anxiety. 
Dr.&nbsp;Sunil Aggarwal,&nbsp;co-founder of a Seattle-based psychedelics research and treatment clinic, Advanced Integrative Medical Science Institute (AIMS), has been fighting to prove that the Right to Try Act gives him the right to administer psilocybin to his patients.&nbsp;
In a new filing, the DEA argues that the Right to Try Act is trumped by limitations laid out by the Controlled Substance Act and that physicians are obliged to comply with federal regulations. 
"The CSA and the FDCA (which the Right to Try Act amends) are separate regulatory schemes with separate requirements and restrictions," the DEA wrote. "Nothing in the Right to Try Act changes that."
Now read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/cannabis/24/04/38032920/deas-resistance-to-cannabis-rescheduling-ignites-policy-clash" rel="noreferrer noopener">DEA&#8217;s Resistance To Cannabis Rescheduling Ignites Policy&nbsp;Clash</a>
Photo: Courtesy of T. Schneider via Shutterstock

Cannabis

Psychedelics

DEA Sanctions Religious Use Of Ayahuasca But Refuses Psilocybin For Cancer Patients' Pain Relief

Palo Alto Networks's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NYSE">PANW</a>) short percent of float has fallen 7.86% since its last report. The company recently reported that it has 12.36 million shares sold short, which is 3.87% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.46 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Palo Alto Networks Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713968124_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Palo Alto Networks has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Palo Alto Networks's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Palo Alto Networks's peer group average for short interest as a percentage of float is 4.34%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

PANW

How Is The Market Feeling About Palo Alto Networks?

Intuit's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NYSE">INTU</a>) short percent of float has fallen 10.14% since its last report. The company recently reported that it has 3.39 million shares sold short, which is 1.24% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.73 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Intuit Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713968118_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Intuit has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Intuit's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Intuit's peer group average for short interest as a percentage of float is 4.47%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

INTU

Peering Into Intuit's Recent Short Interest

Amphenol Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APH#NYSE">APH</a>)&nbsp;reported a fiscal first-quarter 2024 sales increase of 9% year-on-year to $3.256 billion,&nbsp;beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38401384/amphenol-reports-first-quarter-2024-results-and-announces-new-stock-repurchase-program" rel="noreferrer noopener">consensus of $3.097 billion</a>.&nbsp;
Adjusted EPS of $0.80 topped the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $0.73</a>. The stock price gained after the print.
The adjusted operating margin for the quarter was 21.0% versus 20.1% a year ago.
Amphenol held $1.96 billion in cash and equivalents as of March 31, 2024.&nbsp;
Stock Repurchase Program:&nbsp;On April 23, 2024, the Board approved a new three-year, $2 billion open market stock repurchase plan.
Amphenol President and Chief Executive Officer, R. Adam Norwitt said, &#8220;Sales increased from&nbsp;prior&nbsp;year by 9%, driven by growth in the IT datacom, commercial air, automotive&nbsp;and&nbsp;defense markets as well as contributions from the Company&#8217;s acquisition program, partially offset by moderations in the mobile networks, broadband and industrial markets.&#8221;
Outlook:&nbsp;Amphenol expects second-quarter sales of $3.24 billion to $3.30 billion.&nbsp;This&nbsp;represents a 6%—8% increase over the&nbsp;prior-year&nbsp;quarter, and the&nbsp;street view pegs&nbsp;expectations&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">at $3.26 billion</a>.
The company sees adjusted EPS of $0.79 &#8211; $0.81, representing a 10% &#8211; 13% increase Y/Y. The analyst consensus stands at $0.79.
Amphenol&nbsp;stock gained over 48% in the last 12 months. Investors can gain exposure to the stock via&nbsp;VictoryShares THB Mid Cap ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDCP#NASDAQ">MDCP</a>) and&nbsp;AdvisorShares Focused Equity ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CWS#NYSE">CWS</a>).
Price Action:&nbsp;APH shares traded 2.97% higher at $117.65 at&nbsp;the last check on Wednesday.

Earnings

Guidance

Buybacks

Movers

MDCP

Amphenol Stock Gains After Q1 Print, What's Going On?

Fifth Third Bancorp's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NYSE">FITB</a>) short percent of float has risen 21.75% since its last report. The company recently reported that it has 25.61 million shares sold short, which is 4.31% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.52 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Fifth Third Bancorp Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713968113_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Fifth Third Bancorp has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Fifth Third Bancorp's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Fifth Third Bancorp's peer group average for short interest as a percentage of float is 1.44%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

FITB

Peering Into Fifth Third Bancorp's Recent Short Interest

Piper Sandler analyst Mark Fitzgibbon reiterates Western New England (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WNEB#NASDAQ">WNEB</a>) with a Neutral and lowers the price target from $9 to $7.5.

WNEB

Piper Sandler Reiterates Neutral on Western New England, Lowers Price Target to $7.5

Benchmark analyst Nathan Martin reiterates Canadian National Railway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) with a Hold.

Benchmark Reiterates Hold on Canadian National Railway

Wells Fargo analyst Mohit Bansal upgrades Neurocrine Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIX#NASDAQ">NBIX</a>) from Equal-Weight to Overweight and raises the price target from $140 to $170.

Upgrades

NBIX

Wells Fargo Upgrades Neurocrine Biosciences to Overweight, Raises Price Target to $170

Piper Sandler analyst Kashy Harrison reiterates Enphase Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) with a Neutral and lowers the price target from $113 to $111.

ENPH

Piper Sandler Reiterates Neutral on Enphase Energy, Lowers Price Target to $111

International Business Machines Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) is expected to release earnings results for its first quarter, after the <a href="https://www.benzinga.com/quote/IBM/earnings">closing bell on April 24, 2024</a>.
Analysts expect the Armonk, New York-based company to report quarterly earnings at $1.60 per share, up from $1.36 per share in the year-ago quarter. IBM is projected to report quarterly revenue of $14.55 billion, compared to $14.25 billion in the year-earlier period, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Jan. 30, IBM's board of directors declared a regular quarterly cash dividend of $1.66 per common share.
IBM shares rose 0.2% to close at $182.19 on Tuesday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/IBM/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Jefferies analyst Brent Thill maintained a Hold rating and cut the price target from $215 to $210 on April 23, 2024. This analyst has an accuracy rate of 78%.</li>
<li>UBS analyst David Vogt maintained a Sell rating and raised the price target from $125 to $130 on April 22, 2024. This analyst has an accuracy rate of 76%.</li>
<li>B of A Securities analyst Wamsi Mohan maintained a Buy rating and increased the price target from $200 to $220 on March 14, 2024. This analyst has an accuracy rate of 75%.</li>
<li>BMO Capital analyst Keith Bachman maintained a Market Perform rating and boosted the price target from $155 to $210 on Jan. 25, 2024. This analyst has an accuracy rate of 78%.</li>
<li>Evercore ISI Group analyst Amit Daryanani upgraded the stock from In-Line to Outperform and increased the price target from $165 to $200 on Jan. 19, 2024. This analyst has an accuracy rate of 73%.</li>
</ul>
Read This Next: <a href="https://www.benzinga.com/news/earnings/24/04/38396305/tesla-boeing-and-3-stocks-to-watch-heading-into-wednesday">Tesla, Boeing And 3 Stocks To Watch Heading Into Wednesday</a>

IBM Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

- Reuters Citing Annual Shareholders Meeting

Management

ASML

ASML Names Christophe Fouquet As Company's New CEO

The generational divide in the housing market has taken center stage as a TikTok user's rant draws attention to the affordability struggles faced by millennials and Gen Z.&nbsp;
This reaction follows a baby boomer's admission of purchasing a home for $37,000 in 1980 — a figure roughly equivalent to $148,000 today when adjusted for inflation. 
"They still point the finger at us for not getting out of our parents' basement — ‘You guys are just lazy,'" the TikToker said, encapsulating the disdain younger generations feel when unjustly branded by some baby boomers as indolent, despite an economic landscape that has shifted beneath their feet.
Don't Miss:
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<li>Investing in real estate just got a whole lot simpler. This <a href="https://www.benzinga.com/go/bezos-landlord">Jeff Bezos-backed startup will allow you to become a landlord</a> in just 10 minutes, and you only need $100.</li>
</ul>
In an ironic twist, a Redfin survey has revealed that a substantial portion of boomers would not be able to afford their homes in the current climate, where home values have surged.&nbsp;
Over the past decade, home values have doubled, with a nearly 50% increase in the last five years, pushing the cost of homeownership to record highs.
The survey posed a critical question to homeowners: Could they afford a home like theirs in their neighborhood if they were to buy it today? Approximately 40% of respondents answered they probably or definitely could not afford it. This sentiment was particularly strong among baby boomers, with 45% stating they couldn't afford a home in their current neighborhood under today's conditions.
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<li>Want To Grow Your Wealth Passively? Unlock Real Wealth with <a href="https://www.benzinga.com/money/cityfunds-yield">Cityfunds&#8217; Exclusive 8% Yield Fund</a>.</li>
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"Americans who already own homes benefit from rising values," Redfin senior economist Elijah de la Campa said. "However, this price appreciation makes the prospect of buying a new home daunting or even impossible for many who want to move."
While baby boomers may benefit from the appreciation of their properties, the same rising prices and spiked mortgage rates create barriers for newer entrants into the housing market. This situation contributes to a phenomenon known as the "mortgage-rate lock-in effect," where current homeowners are disincentivized to sell because of unfavorable mortgage rate comparisons.
While baby boomers might reminisce about the good old days when high interest rates were the main obstacle, today&#8217;s generation faces a more complex array of challenges: inflated property prices, a competitive market with low inventory and a cost of living that has risen disproportionately to wage growth.
The very factors that have allowed baby boomers to accumulate substantial home equity — soaring property values and historically low interest rates for decades — are now pricing younger generations out of the market. This paradox highlights the complexities of the housing crisis, where solutions will require addressing systemic issues around supply, costs and equity.
Read Next:
<ul>
<li>Want to Create a Passive Income Stream? <a href="https://www.benzinga.com/go/grow-wealth-passively">These High-Yield Real Estate Notes Might Be Your Holy Grail</a></li>
</ul>

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Baby Boomers Call Gen Z And Millennials 'Lazy' For Living At Home, Yet Survey Shows Nearly 50% Couldn't Afford To Buy Their Homes Today

<a href="https://www.globenewswire.com/Tracker?data=hPvjTEXyxU-oT8onb4GE6yoLYP643J2tkQr15ddY0qIl3oT5KEu7o0ZLvtAEEGhA5xwQZjkGoTGCmekeXoc91ZRqMZhgoZCRAg1avFBh0w-HngxAGlquZroZbcigR1Uf">Cullinan Therapeutics, Inc.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGEM#NASDAQ">CGEM</a>), a biopharmaceutical company focused on modality-agnostic targeted therapies, today announced that clinical data from its Phase 1 trial of CLN-619 in patients with advanced solid tumors will be presented at the 2024 American Society of Clinical Oncology (ASCO) Annual Meeting taking place in Chicago from May 31-June 4, 2024. The data will include first results from the dose escalation cohort of CLN-619 in combination with checkpoint inhibitor pembrolizumab and updated results from the monotherapy dose escalation cohort in patients with advanced solid tumors. &nbsp;
"We are pleased to present our initial clinical findings for CLN-619 plus pembrolizumab in patients with solid tumors at ASCO 2024, along with updated results from our monotherapy dose escalation study. CLN-619 is a novel, potential first-in-class antibody that binds to MICA and MICB stress-induced ligands that engage the activating receptor NKG2D, present on both innate and adaptive immune cells. CLN-619 exerts its effects through multiple mechanisms, providing an opportunity to combine CLN-619 with immunotherapies that target potentially synergistic immune activation pathways, such as checkpoint inhibitors," said Jeffrey Jones, MD, MPH, MBA, Chief Medical Officer, Cullinan Therapeutics.
The details of the presentation include: &nbsp;
Poster Title:&nbsp;CLN-619 (anti-MICA/B antibody) alone and in combination with pembrolizumab for advanced solid tumors: Updated results of a Ph1 study &nbsp;
Author:&nbsp;Dr. Ignacio Melero, et al. &nbsp;
Poster Number: 2588 &nbsp;
Session:&nbsp;Developmental Therapeutics—Immunotherapy &nbsp;
Session Date and Time:&nbsp;June 1, 2024, 9:00 AM-12:00 PM Central Time
About CLN-619&nbsp; &nbsp;
CLN-619 is a potential first-in-class humanized IgG1 monoclonal antibody that binds to the stress induced ligands MICA and MICB, which are expressed on a wide variety of solid tumors and hematologic malignancies. Engagement of MICA/B by the activating receptor NKG2D, present on both cytotoxic innate and adaptive immune cells, results in target cell lysis. However, tumor cells can shed MICA/B via proteases they release into the tumor microenvironment, resulting in evasion of immune-mediated destruction. CLN-619 functions by restoring MICA/B expression on the surface of tumor cells to reinvigorate NKG2D-mediated immune activation, and by inducing antibody-dependent cellular toxicity (ADCC) and antibody-dependent cellular phagocytosis (ADCP), together promoting anti-tumor activity via multiple immune-mediated mechanisms. CLN-619 is being studied in an ongoing Phase 1 clinical trial (<a href="https://www.globenewswire.com/Tracker?data=-viKWMyCrcGEgeyEndGKWxkz5S-qtBs6wR3rdBf0k_GRMhg4uc__vP7YRSoXqSTFK4bMYDX9Rml0C-84cOM74Nyhqpb9zyyCD1MOzk9hFv2s402wPG4nhjExRU5Psbcc">NCT05117476</a>) both as a monotherapy and in combination with pembrolizumab. The study design allows dose level extensions as well as expansion in tumor-specific cohorts. CLN-619 will also be studied in a Phase 1 clinical trial <a href="https://www.globenewswire.com/Tracker?data=PvPgUcn-3MLOx6fhN3h35ZMxYO7BT9bIEuSHG13XXeQBc0HDIz0n_euWJ9C_qOi7Ig71exBtpKH01PYxbiD_8-tD5HMBa5X5USR760J1prjDBUTPhcdTyay6YcOnsN21">(NCT06381141)</a>&nbsp;in patients with relapsed/refractory multiple myeloma.

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Cullinan Therapeutics To Present Clinical Data From Phase 1 Study Evaluating Novel Anti-MICA/B Antibody, CLN-619, As Monotherapy And In Combination With A Checkpoint Inhibitor In Patients With Advanced Solid Tumors At ASCO 2024