Latest News for Wise Stock (OTC:WIZEY)

Wise is a currency conversion platform utilizing a peer-to-peer network to reduce transfer costs. The group focuses primarily on private clients and small and midsize enterprises. By operating local accounts in each jurisdiction Wise sends money to or receives money from, this fintech offers faster and cheaper currency transfer services than incumbents (banks). Wise has started to broaden its product offering, issuing its clients debit cards and allowing customers to invest funds into various asset-management products.

Wise PLC

Wedbush analyst Nick Setyan maintains Cava Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAVA#NYSE">CAVA</a>) with a Outperform and raises the price target from $65 to $74.

News

Price Target

Analyst Ratings

CAVA

Wedbush Maintains Outperform on Cava Group, Raises Price Target to $74

Morgan Stanley analyst Matthew Cost downgrades Integral Ad Science (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IAS#NASDAQ">IAS</a>) from Overweight to Equal-Weight and lowers the price target from $18 to $12.

Downgrades

Morgan Stanley Downgrades Integral Ad Science to Equal-Weight, Lowers Price Target to $12

iShares MSCI Israel Capped Investable Market Index Fund

Israel's War Cabinet To Meet On Tuesday To Discuss Israeli Response To Iranian Attack, No Time Set, Israeli Official Says

Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) reported quarterly earnings of $1.29 per share which beat the analyst consensus estimate of $1.19 by 8.4 percent. The company reported quarterly sales of $4.527 billion which beat the analyst consensus estimate of $4.388 billion by 3.17 percent. This is a 3.74 percent increase over sales of $4.364 billion the same period last year.

Earnings

Earnings Beats

Bank of New York Mellon Q1 2024 Adj EPS $1.29 Beats $1.19 Estimate

Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) reported quarterly earnings of $1.25 per share which beat the analyst consensus estimate of $1.19 by 5.04 percent. The company reported quarterly sales of $4.527 billion which beat the analyst consensus estimate of $4.388 billion by 3.17 percent. This is a 3.74 percent increase over sales of $4.364 billion the same period last year.

Bank of New York Mellon Q1 2024 GAAP EPS $1.25 Beats $1.19 Estimate, Sales $4.527B Beat $4.388B Estimate

As one of the largest forest owners in&nbsp;Sweden, Holmen is committed to become more data-driven in its forestry operations

TRMB

Swedish Forestry Company Holmen Selects Trimble's Connected Forest Management System

Goldman Sachs analyst Ben Miller initiates coverage on DraftKings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>) with a Buy rating and announces Price Target of $60.

Initiation

DKNG

Goldman Sachs Initiates Coverage On DraftKings with Buy Rating, Announces Price Target of $60

Tech

General

LLAP

Terran Orbital's Tyvak International Centauri-6 Satellite Successfully Deployed Into Orbit

International Paper Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IP#NYSE">IP</a>) has agreed to acquire all the shares of&nbsp;DS Smith Plc&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/DITHF#OTC">DITHF</a>), implying a&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38263503/international-paper-announces-agreement-to-acquire-ds-smith" rel="noreferrer noopener">transaction value of approximately $9.9 billion.</a>
The terms of the combination value each DS Smith share at 415 pence per share, and will result in IP issuing 0.1285 shares for each DS Smith share.
The arrangement will result in the ownership of 66.3% of IP shareholders and 33.7% of DS Smith shareholders.
The transaction is expected to close by the fourth quarter of 2024. DS Smith has also recently received a proposal from Mondi Plc (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MONDY#OTC">MONDY</a>).
&#8220;Combining with DS Smith is a logical next step in IP&#8217;s strategy to drive profitable growth by strengthening our global packaging business,&#8221; said IP Chairman and CEO Mark S. Sutton.
&#8220;DS Smith is a leader in packaging solutions with an extensive reach across Europe, which complements IP&#8217;s capabilities and will accelerate growth through innovation and sustainability."
The acquisition establishes a differentiated corrugated packaging company with approximately 90% of revenue from sustainable fiber-based packaging. It will combine DS Smith&#8217;s European sales of $9.4 billion in FY23 with IP&#8217;s European sales of $1.5 billion in FY23.
The transaction is expected to deliver at least $514 million of pre-tax cash synergies on an annual run-rate basis by the end of the fourth year after the completion.
Andrew K. Silvernail will be CEO of the combined company and Miles Roberts will be retained as a consultant to assist with integration matters.&nbsp;
The combined company will be headquartered in Memphis, Tennessee, with plans to establish an EMEA headquarters at DS Smith&#8217;s existing London headquarters.
Upon completion of the combination, any new IP Shares issued to DS Smith shareholders will be authorized for primary listing on the NYSE, subject to official notice of issuance. IP also intends to seek a secondary listing of its shares&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38096143" rel="noreferrer noopener">on the London Stock Exchange.</a>
International Paper held $1.1 billion in&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/02/n36884391/international-paper-reports-full-year-and-fourth-quarter-2023-results" rel="noreferrer noopener">cash and equivalents as of December 31, 2023</a>.
Price Action: IP shares closed lower by 1.00% at $36.77 on Monday.
Image sourced from Shutterstock

Equities

DITHF

MONDY

International Paper Acquires Packaging Firm DS Smith; Eyes Secondary Listing On London Stock Exchange

Goldman Sachs analyst Ben Miller initiates coverage on Genius Sports (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GENI#NYSE">GENI</a>) with a Buy rating and announces Price Target of $7.5.

GENI

Goldman Sachs Initiates Coverage On Genius Sports with Buy Rating, Announces Price Target of $7.5

Needham analyst Anna Andreeva reiterates Shopify (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) with a Hold.

Reiteration

SHOP

Needham Reiterates Hold on Shopify

The next quarterly dividend is payable on June 4, 2024 to shareholders of record at the close of business on May 21, 2024. The ex-dividend date is May 20, 2024.

Biotech

Large Cap

Dividends

Health Care

Johnson & Johnson Has Declared 4.2% Increase In Quarterly Dividend, From $1.19 Per Share To $1.24 Per Share

Guidance

Johnson & Johnson Forecast Fiscal Year 2024 Operational Sales Of $88.7B-$89.1B Versus Prior Guidance Of $88.2B–$89.0B And Consensus $88.43B

Goldman Sachs analyst Joe Ritchie initiates coverage on GE Vernova (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>) with a Buy rating and announces Price Target of $154.

Goldman Sachs Initiates Coverage On GE Vernova with Buy Rating, Announces Price Target of $154

Johnson & Johnson Expects 2024 Adjusted EPS Of $10.57–$10.72 Versus Consensus Of $10.66 And Prior Guidance Of $10.55–$10.75, With Adjusted Operational EPS Of $10.60–$10.75

WIIM

ArcelorMittal shares are trading lower after Deutsche Bank downgraded the stock from Buy to Hold.

Live Nation shares are trading lower following a report indicating the Justice Department will file an antitrust lawsuit against the company.

UnitedHealth shares are trading higher following better-than-expected Q1 earnings.

Wolfe Research analyst Alex Zukin reiterates Salesforce (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) with a Outperform and maintains $365 price target.

Wolfe Research Reiterates Outperform on Salesforce, Maintains $365 Price Target

Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) reported quarterly earnings of $2.71 per share which beat the analyst consensus estimate of $2.64 by 2.65 percent. This is a 12.45 percent increase over earnings of $2.41 per share from the same period last year. The company reported quarterly sales of $21.383 billion which missed the analyst consensus estimate of $21.398 billion by 0.07 percent. This is a 2.34 percent increase over sales of $20.894 billion the same period last year.

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Latest News for Wise Stock (OTC:WIZEY)