Latest News for Liberty Broadband Stock (OTC:LBRDB)

Liberty Broadband Corp serves in the telecommunications industry in the United States. It provides cable services to both residential and small to medium businesses through its fiber, hybrid fiber, and coaxial cable infrastructure. The services provided by the company are residential services which include video services, internet services, voice services, and mobile services, commercial services which include small, and medium business and enterprise solutions, advertising services, and other services. The reportable segments of the company are GCI Holdings, Charter. The firm derives the majority of its revenue from GCI Holdings.

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LIBERTY BROADBAND CP B by Liberty Broadband Corporation

Liberty Broadband Corp

Shares of Teledyne Technologies Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDY#NYSE">TDY</a>) fell sharply during Wednesday's session after the company reported worse-than-expected first-quarter financial results and <a href="https://www.benzinga.com/quote/TDY/earnings">cut FY24 adjusted EPS guidance.</a>
Teledyne Technologies posted adjusted earnings of $4.55 per share, missing market estimates of $4.63 per share. The company's quarterly sales came in at $1.35 billion versus expectations of $1.40 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Teledyne Technologies shares dipped 9.3% to $369.16 on Wednesday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Chicken Soup for the Soul Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSSE#NASDAQ">CSSE</a>) gained 136% to $0.3570.</li>
<li>BranchOut Food Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BOF#NASDAQ">BOF</a>) shares climbed 73% to $1.98 after the company announced it has expanded its existing relationship with the nation&#8217;s largest retailer, which brings the total annualized value of commitments from the retailer to over $8 million.</li>
<li>Amesite Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMST#NASDAQ">AMST</a>) jumped 55.7% to $3.10 after the company announced the Beta release of its NurseMagic app.</li>
<li>Lichen China Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LICN#NASDAQ">LICN</a>) gained 53.5% to $0.8599.</li>
<li>WiMi Hologram Cloud Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WIMI#NASDAQ">WIMI</a>) rose 44.6% to $1.05.</li>
<li>Mullen Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MULN#NASDAQ">MULN</a>) rose 44% to $3.93.</li>
<li>Prenetics Global Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRE#NASDAQ">PRE</a>) gained 36.6% to $6.25.</li>
<li>B. Riley Financial, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RILY#NASDAQ">RILY</a>) shares surged 29.9% to $28.20 after the company announced the results of an independent investigation showed the company and its executives had no involvement with, or knowledge of, any of the alleged misconduct concerning Mr. Kahn or any of his affiliates.</li>
<li>MMTec, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTC#NASDAQ">MTC</a>) shares climbed 29% to $2.8948.</li>
<li>Connexa Sports Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YYAI#NASDAQ">YYAI</a>) gained 28.8% to $0.9427.</li>
<li>Ribbon Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RBBN#NASDAQ">RBBN</a>) shares rose 27.2% to $3.2699 after the company reported first-quarter financial results and issued guidance.</li>
<li>TROOPS, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TROO#NASDAQ">TROO</a>) gained 26.6% to $1.38.</li>
<li>Babcock &amp; Wilcox Enterprises, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BW#NYSE">BW</a>) gained 19.9% to $1.10</li>
<li>Hasbro, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>) surged 12.1% to $65.13 following better-than-expected first-quarter financial results.</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) gained 11.9% to $161.93 following first-quarter results.</li>
<li>Vertiv Holdings Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>) climbed 11.2% to $88.07 after the company reported better-than-expected first-quarter financial results and raised its 2024 guidance.</li>
<li>Intchains Group Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICG#NYSE">ICG</a>) gained 10.3% to $10.30.</li>
<li>Navitas Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVTS#NASDAQ">NVTS</a>) surged 9.2% to $4.1402. Navitas Semiconductor is expected to report first-quarter financial results on Thursday, May 9.</li>
<li>Westinghouse Air Brake Technologies Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAB#NYSE">WAB</a>) surged 9% to $161.84 after the company reported better-than-expected first-quarter financial results and raised its 2024 guidance.</li>
<li>Stride, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LRN#NYSE">LRN</a>) surged 8.4% to $63.07 after the company reported better-than-expected third-quarter financial results and issued FY24 revenue guidance above estimates.</li>
<li>Texas Instruments Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) gained 6.4% to $176.10 following a first-quarter earnings beat.</li>
<li>Boston Scientific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>) surged 6.2% to $73.24 after the company reported better than expected first-quarter earnings and issued guidance.</li>
<li>Hilton Worldwide Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>) rose gained 4.4% to $205.69 after the company reported better-than-expected first-quarter financial results and raised FY24 adjusted EPS guidance.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Neo-Concept International Group Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCI#NASDAQ">NCI</a>) fell 67.4% to $3.06 after jumping over 137% on Tuesday. The company priced its IPO at $4 per share.</li>
<li>iSun, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISUN#NASDAQ">ISUN</a>) fell 40% to $0.0901 after the company announced a reverse stock split.</li>
<li>GlucoTrack, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GCTK#NASDAQ">GCTK</a>) declined 36.8% to $0.4801.</li>
<li>Evotec SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVO#NASDAQ">EVO</a>) shares dipped 32.4% to $5.27 after reporting fiscal year 2023 results.</li>
<li>Avenue Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATXI#NASDAQ">ATXI</a>) fell 31% to $0.0925 after the company announced a reverse stock split.</li>
<li>Vaxxinity, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VAXX#NASDAQ">VAXX</a>) dipped 26.8% to $0.1464.</li>
<li>Applied DNA Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APDN#NASDAQ">APDN</a>) fell 20% to $0.2320.</li>
<li>Brand Engagement Network, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNAI#NASDAQ">BNAI</a>) shares dipped 19.5% to $3.46.</li>
<li>NewGenIvf Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIVF#NASDAQ">NIVF</a>) shares declined 18.8% to $1.81.</li>
<li>Recon Technology, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCON#NASDAQ">RCON</a>) fell 16.5% to $0.0845.</li>
<li>Finch Therapeutics Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FNCH#NASDAQ">FNCH</a>) fell 15.5% to $2.35.</li>
<li>New Oriental Education &amp; Technology Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDU#NYSE">EDU</a>) shares slipped 13.9% to $77.13 following downbeat quarterly earnings.</li>
<li>Mersana Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRSN#NASDAQ">MRSN</a>) fell 11% to $2.8600.</li>
<li>Helen of Troy Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HELE#NASDAQ">HELE</a>) dipped 9.8% to $90.45 after the company reported fourth-quarter financial results and issued FY25 guidance below estimates.</li>
<li>Old Dominion Freight Line, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) shares declined 9.7% to $197.95 following a first-quarter revenue miss.</li>
<li>Vicor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VICR#NASDAQ">VICR</a>) dipped 8.5% to $32.17 after the company reported worse-than-expected first-quarter sales results.</li>
<li>Sleep Number Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNBR#NASDAQ">SNBR</a>) fell 8.4% to $13.38.</li>
<li>Manhattan Associates, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MANH#NASDAQ">MANH</a>) shares declined 8.4% to $211.18 following quarterly results.</li>
<li>Equinox Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQX#NYSE">EQX</a>) fell 8.2% to $5.25. Equinox Gold entered into a binding share purchase agreement with certain funds managed by Orion Mine Finance Management LP to acquire Orion&#8217;s 40% interest in Greenstone Gold Mine GP Inc., giving Equinox Gold 100% ownership of the Greenstone Mine in Ontario, Canada.</li>
<li>Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) fell 4.5% to $108.43 after the company reported worse-than-expected first-quarter financial results and issued second-quarter revenue guidance below estimates.</li>
<li>Lithia Motors, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAD#NYSE">LAD</a>) shares fell 4.3% to $253.02 following downbeat quarterly earnings.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/24/04/38400974/tesla-to-180-here-are-10-top-analyst-forecasts-for-wednesday">Tesla To $180? Here Are 10 Top Analyst Forecasts For Wednesday</a>

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Connexa Sports Technologies Inc. - Common Stock

YYAI

Why Teledyne Technologies Shares Are Trading Lower By 9%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

Citigroup analyst Ashwin Shirvaikar maintains Fiserv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>) with a Buy and raises the price target from $171 to $180.

Price Target

Analyst Ratings

Citigroup Maintains Buy on Fiserv, Raises Price Target to $180

President Joe Biden pardoned 11 people convicted of non-violent drug charges and commuted the sentences of five others. He said the move was part of his commitment to addressing racial disparities as many of them received disproportionately longer sentences than they would <a href="https://www.benzinga.com/markets/cannabis/24/04/38240431/biden-champions-cannabis-reform-and-pardon-as-election-pressure-mounts-marijuana-takes-center-st">have under current law</a>. 
"America is a nation founded on the promise of second chances," Biden said Wednesday in a <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/04/24/statement-from-president-joe-biden-on-clemency-actions-2/">statement</a> announcing the decision. "We also recommit to building a criminal justice system that lives up to those ideals and ensures that everyone receives equal justice under law."
<h2 class="wp-block-heading">Cannabis Prisoners Need Not Apply</h2>
Among the 16 recipients of Biden's clemency actions, none were non-violent cannabis prisoners. Despite the president's promise, repeated on countless occasions including in his April <a href="https://www.benzinga.com/markets/cannabis/24/03/37552483/biden-calls-for-cannabis-reform-in-state-of-the-union-a-historic-first-no-one-should-be-jailed-f" target="_blank" rel="noreferrer noopener">SOTU speech</a> that no one should be in prison for possessing marijuana, thousands of those very people remain behind bars.
Biden's initial&nbsp;<a href="https://www.benzinga.com/markets/cannabis/22/10/29175510/breaking-biden-announces-pardons-for-all-federal-marijuana-possession-convictions" target="_blank" rel="noreferrer noopener">October 2022 pardon</a>&nbsp;of some&nbsp;6,500 federal cannabis prisoners made waves but little came of it afterwards.
Based on Bureau of Justice statistics the <a href="https://www.benzinga.com/markets/cannabis/24/04/38030369/the-power-of-paper-a-leading-cannabis-rolling-paper-companys-approach-to-social-justice" target="_blank" rel="noreferrer noopener">Last Prisoner Project</a> (LPP) — a nonprofit dedicated to the release of individuals incarcerated for cannabis offenses — <a href="https://www.lastprisonerproject.org/cannabis-prisoner-scale#:~:text=And%20if%20you%20apply%20the,and%20~10K%20federal%20facilities)." target="_blank" rel="noreferrer noopener">estimates</a> that there are approximately 22,000 pot prisoners serving time in state correctional facilities and around 10,000 in federal prisons. Biden, who can only pardon those in federal prisons, has <a href="https://www.benzinga.com/markets/cannabis/23/12/36361671/biden-pardons-thousands-convicted-of-cannabis-possession-calls-on-governors-to-do-the-same">called on call to state governors</a> to do the honors.
In Wednesday&#8217;s pardon, Biden reiterated noted that April was "Second Chance Month," which he and VP Kamala Harris <a href="https://www.whitehouse.gov/briefing-room/presidential-actions/2024/03/29/a-proclamation-on-second-chance-month-2024/" target="_blank" rel="noreferrer noopener">kicked off</a>&nbsp;recently by calling attention to the administration's cannabis pardons, signaling that marijuana&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/04/38029552/bidens-second-chance-month-highlights-white-houses-marijuana-reform-as-presidential-election-cha" target="_blank" rel="noreferrer noopener">is becoming an important issue</a>&nbsp;as a tight presidential election race looms.
<h2 class="wp-block-heading">Too Little, Too Late?</h2>
The Last Prisoner Project seems to think that. In a recent <a href="https://www.lastprisonerproject.org/last-prisoner-project-sends-letter-to-president-biden-urging-the-release-of-all-federal-cannabis-prisoners">letter to Biden</a>, the organization called for the release of people incarcerated for non-violent cannabis offenses, saying the president could free them "with a simple stroke of a pen."
The letter underscores what the LPP calls the hypocrisy and injustice of the country&#8217;s failed approach to cannabis law enforcement and reform. 
&#8220;While some (disproportionately Black, brown, and/or low-income) citizens are being criminalized, others (disproportionately white, wealthy, and well-connected) citizens are earning millions of dollars running&nbsp;state-regulated cannabis companies," wrote the LPP.
Photo: Shutterstock

Cannabis

Government

Politics

Legal

President Biden Pardons, Commutes 16 Non-Violent Drug Offenders: Cannabis Prisoners Excluded

Citigroup analyst James Hardiman maintains Polaris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PII#NYSE">PII</a>) with a Neutral and lowers the price target from $100 to $96.

Citigroup Maintains Neutral on Polaris, Lowers Price Target to $96

HSBC analyst Morten Herholdt upgrades Gilead Sciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>) from Reduce to Hold and announces $69 price target.

Upgrades

GILD

HSBC Upgrades Gilead Sciences to Hold, Announces $69 Price Target

Citigroup analyst Itay Michaeli maintains Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) with a Neutral and raises the price target from $180 to $182.

Citigroup Maintains Neutral on Tesla, Raises Price Target to $182

For many people, having a <a href="https://www.benzinga.com/money/what-is-a-401k">401(k) savings plan</a> means having access to money in the event of emergencies or unplanned big expenses. However, finance guru Dave Ramsey warns people to resist the temptation of cashing out their 401(k)s, and here's why.&nbsp;
Because a 401(k) retirement lets you invest a portion of your paycheck before taxes, by the time most people retire, there will be a decent amount of money for them to retire on if they haven't cashed out that money before then.&nbsp;
Don't Miss:
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<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>
<li>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>.</li>
</ul>
Ramsey advises against the temptation of withdrawing funds from your 401(k) retirement plan to fund your kitchen remodel, <a href="https://www.benzinga.com/personal-finance/financial-advisors/24/04/38263889/dave-ramsey-says-student-loans-create-lifetime-of-money-stress-having-a-serio">student loans</a> or your child's dream wedding. He said that dipping into your retirement money can have negative effects like "taxes and withdrawal penalties, but you'll also miss out on the long-term benefit of compound growth."&nbsp;
According to a Bankrate survey, 51% of Americans who have retirement plans have withdrawn money early.&nbsp;&nbsp;&nbsp;
Generally, most 401(k) plans allow account holders to withdraw up to 50% of the account value up to $50,000, making it tempting to pay for big things like weddings or college tuition. The most common reason people withdraw money early from their 401(k)s is to fund life events like college funds, medical expenses, wedding expenses and paying off debt.
Ramsey strongly advises against using a 401(k) plan as a <a href="https://www.benzinga.com/personal-finance/24/04/38273579/dave-ramsey-claims-that-88-of-people-who-take-out-debt-consolidation-loans-have-debt-come-back-i">consolidation loan</a> because 88% of people who take out these loans have their debt return. You'll also miss out on contributing to your 401(k) while you're busy paying back the loan, leaving you back at square one and putting your retirement fund at risk.&nbsp;&nbsp;
Trending: 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.
Many people think that it's OK to withdraw a small amount from their 401(k), but Ramsey warns against doing this, saying, "The truth is that even a small cash-out can have a huge impact on your retirement savings."&nbsp;
This is because of taxes and withdrawal penalties. Withdrawing early from your retirement savings before you have reached age 59 ½ can trigger additional penalties and taxes. 
Typically, the IRS will issue a 10% tax on early withdrawals on top of any income tax payable on that amount. So, you could find yourself paying the government 10% of a $10,000 withdrawal.&nbsp;
The IRS will waive the 10% penalty in some situations, including a divorce when the 401(k) must be split, you have rolled the account over to another retirement plan within 60 days or you chose to receive substantially equal periodic payments. Funds can be withdrawn penalty-free through specified annual distributions over five years before age 59 ½ years. This process can be confusing, with lots of rules, so it's best to chat with your financial adviser first. 
Another way the 10% withdrawal penalty can be avoided is through a hardship withdrawal. The amount of money that can be withdrawn is usually limited to meet an immediate and heavy financial need. This includes medical bills, funeral expenses and money used to avoid eviction or foreclosure. While doing this may help you avoid early withdrawal penalties, you'll still be subject to paying income tax on the amount withdrawn, which will cause you to miss out on the long-term benefits of compound growth.&nbsp;
Trending: Americans got swindled out of $24.6 billion in the last 3 years —<a href="https://www.benzinga.com/money/advisor-adv"> Which high profile ponzi scheme was endorsed by millionaires?</a>
Ramsey explained what this looks like in real life. If you had to take out $4,500 from your 401(k) to pay for expenses after leaving your job, realistically, you'd only get $2,925. Why? Because 25% goes toward income taxes, and another 10% is paid as an early withdrawal penalty. Not only that but by not moving your 401(k) into an individual retirement account (IRA) after leaving your job, you could miss out on growing that account to over $200,000 over the next 40 years.&nbsp;
So, how do you avoid dipping into your 401(k)?&nbsp;
Ramsey advises that before you start investing in your 401(k), you should have started an emergency fund with at least three to six months of expenses saved. Having this emergency fund ready for unexpected expenses can remove the temptation of touching the money in your 401(k) until retirement.&nbsp;
But sometimes you have no choice but to cash out your 401(k) early if you need to avoid life-altering situations like bankruptcy, foreclosure and eviction. If you are in a position where you need to make a withdrawal from your 401(k), it is a good idea to consult with a financial adviser so you are aware of the results of withdrawing early from your 401(k) and how it will affect your future wealth.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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<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><a href="https://www.benzinga.com/money/are-you-rich-advisor">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.</li>
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Personal Finance

Dave Ramsey Against 401K for Education "Your Retirement Savings Come First, Even Before Funding College for Yourself or Your Kids."

Canadian Pacific Kansas City&nbsp;Limited&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CP#NYSE">CP</a>)&nbsp;reported first-quarter 2024 revenue&nbsp;growth of 55.3% year-over-year to CA$3.52 billion,&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38403406" rel="noreferrer noopener">missing the consensus of CA$3.54 billion.</a>
CP reported an operating ratio increase of 400 bps to 67.4% from 63.4% a year ago. Adjusted operating ratio increased 50 bps to 64%.
&#8220;One year into our historic combination, I am proud of what our dedicated family of railroaders has accomplished as we deliver on the benefits of our unrivalled network – spurring competition, increasing safety and connecting more markets for our customers. Today&#8217;s results show the success of our efforts to drive growth as the only railway connecting Canada, the United States and Mexico,&#8221; commented Keith Creel, CPKC President and Chief Executive Officer.
Adjusted combined EPS stood at CA$0.93, up from CA$0.90 YoY, missing the consensus of CA$0.94.
Operating income rose 38.6% YoY to CA$1.15 billion, and the margin contracted by 394 bps to 32.6%.
CP&#8217;s net cash provided by operating activities for the quarter reached CA$1.015 billion, up from CA$881 million a year ago.
Total Freight Revenue per RTM increased by 12% Y/Y to 6.61, and Total Freight Revenue per Carload declined 2% Y/Y to CA$3,195.
Adjusted combined free cash was CA$555 million, up from CA$481 million in the same quarter last year.
Volumes, as measured in Revenue Ton-Miles (RTMs), increased by 1% on a combined basis.
Federal Railroad Administration (FRA)-reportable train accident frequency increased to 0.89 from 0.71 YoY, and FRA-reportable personal injury frequency increased to 1.15 from 1.12 YoY on a combined basis.
Price Action: CP shares are trading lower by 5.75% at $82.68 at the last check Wednesday.
Photo via Shutterstock

Earnings

Equities

Why Is Canadian Pacific Kansas City Stock Falling Today?

HSBC analyst Joseph Thomas maintains Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) with a Buy and raises the price target from $310 to $355.

SPOT

HSBC Maintains Buy on Spotify Technology, Raises Price Target to $355

Citigroup analyst Jason Bazinet upgrades Sirius XM Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIRI#NASDAQ">SIRI</a>) from Sell to Neutral and lowers the price target from $4.1 to $3.3.

SIRI

Citigroup Upgrades Sirius XM Holdings to Neutral, Lowers Price Target to $3.3

TDOC

Watching Teladoc Health; Shares See Increased Volume Amid Circulation Of UnitedHealth "Optum Is Shutting Down Its Virtual Care Business"

Editor&#8217;s note: This story has been updated to correct a quote from Bitdeer CSO Haris Basit that was mistakenly attributed to another executive. 
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) miners are increasingly turning to artificial intelligence to mitigate the impact of the recent halving event.
What Happened: The event, which occurred late on Friday, automatically halved the new issuance of Bitcoin, a process that happens roughly every four years. Halving, which is designed to counter inflation, has historically preceded a significant surge in Bitcoin&#8217;s price, <a href="https://www.cnbc.com/2024/04/21/bitcoin-miners-get-into-ai-to-survive-halving.html">reported</a> CNBC.
However, the halving also directly impacts miners by reducing their rewards. This has prompted miners, including publicly traded companies, to explore AI as a potential revenue stream.
According to Haris Basit, chief strategy officer of Bitdeer, the company has been investing in new data centers and increasing vertical integration through research and development. This has led to new innovations and revenue pathways, such as the company&#8217;s recently announced 4nm mining rigs and AI Cloud offerings, he told CNBC. 
Analysts at Cantor Fitzgerald have named Bitdeer as having one of the industry&#8217;s lowest &#8220;all-in&#8221; costs per coin. 
Core Scientific CEO Adam Sullivan believes that few operators will be able to make the transition to AI, as Bitcoin mining sites can only be repurposed if they meet the attributes required for high-performance computing (HPC), according to the CNBC report. 
Over the past year, there&#8217;s been a notable increase in the need for AI computing power and infrastructure capable of handling the extensive workloads necessary for innovative machine learning applications.
According to a recent report from digital asset fund manager CoinShares, there&#8217;s anticipation of a trend where more miners will transition towards artificial intelligence in locations with secure energy sources, foreseeing potential for increased profits.
Currently, mining companies such as BitDigital, Hive, Hut 8, Terawulf, and Core Scientific either have existing AI operations or are actively planning for AI expansion.
"This trend suggests that bitcoin mining may increasingly move to stranded energy sites while investment in AI grows at more stable locations," write analysts at CoinShares.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38346576/doge-day-has-an-elon-musk-connection-meme-coin-rebounds-after-the-bitcoin-halving-sell-the?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Doge Day Has An Elon Musk Connection, Meme Coin Rebounds After The Bitcoin Halving &#8216;Sell-The-News&#8217; Drop</a>
Meanwhile, Greg Beard, the CEO and Chairman of Stronghold Digital Mining, said, "Miners who own their low-cost power are better positioned. Operational costs will be lower, allowing them to be more flexible with their capital."
Why It Matters: The recent halving has had a significant impact on the Bitcoin mining industry. Despite a modest impact on miners&#8217; estimated EBITDA margins, the 50% reduction in revenue has prompted miners to seek alternative revenue streams, such as AI.
However, the halving has also had a positive impact on Bitcoin&#8217;s transaction fees, which have <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38348912/bitcoin-transaction-fees-dive-to-5-year-low-following-halving">decreased to a five-year low</a>. This drop comes after increased fees following the halving event and the launch of the Runes token standard, which initially caused a surge in transaction costs.
Despite the drop in fees, the <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38346617/latest-bitcoin-halving-could-cost-miners-billions-of-dollars-in-revenue-report">latest halving could cost miners billions of dollars</a> in revenue. The reduction from 900 to 450 Bitcoin per day is critical to prevent inflation and maintain Bitcoin&#8217;s cap at 21 million tokens.
However, the <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38349807/bitcoin-signals-potential-67-gain-as-this-key-metric-dips-below-90-day-average-analyst-say">Bitcoin MVRV ratio has recently fallen</a> below its 90-day average, indicating a potential buying opportunity with a potential 67% gain. This trend has been observed since November 2022, with an average gain of 67% each time.
Despite the potential for increased revenue, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38345128/peter-schiff-mocks-bitcoiners-after-halving-event-asks-if-theyre-throwing-parties-h">renowned crypto skeptic</a> Peter Schiff has mocked &#8220;Bitcoiners&#8221; after the recent halving event, suggesting that the &#8220;hodlers&#8221; will soon experience a halving of their net worth.
Price Action: According to data <a href="https://www.benzinga.com/pro/">from Benzinga Pro</a>, Bitcoin is currently trading at $65,718, marking a 1.18% increase in the last 24 hours and a substantial 48.78% rise year-to-date.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38337646/dogecoin-killer-shiba-inu-whale-transactions-spike-55-100b-by-2025-predicts-crypto-investo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Dogecoin Killer&#8217; Shiba Inu Whale Transactions Spike 55%: &#8216;$100B By 2025,&#8217; Predicts Crypto Investor</a>
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Bitcoin Miners Upgrade Infrastructure, Embrace AI To Prepare For Dip In Revenue After Halving (CORRECTED)

RBC Capital analyst Steven Duong maintains Webster Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WBS#NYSE">WBS</a>) with a Outperform and lowers the price target from $57 to $54.

RBC Capital Maintains Outperform on Webster Finl, Lowers Price Target to $54

Phillips 66's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>) short percent of float has fallen 17.75% since its last report. The company recently reported that it has 8.04 million shares sold short, which is 1.9% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.1 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>Phillips 66 Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713980722_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Phillips 66 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 Phillips 66'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>, Phillips 66's peer group average for short interest as a percentage of float is 8.60%, 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

How Is The Market Feeling About Phillips 66?

RH's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RH#NYSE">RH</a>) short percent of float has fallen 6.66% since its last report. The company recently reported that it has 1.71 million shares sold short, which is 11.5% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.25 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>RH Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713980718_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for RH 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 RH'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>, RH's peer group average for short interest as a percentage of float is 13.94%, 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.

(RH) - Analyzing RH's Short Interest

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Latest News for Liberty Broadband Stock (OTC:LBRDB)

Monday, November 04, 2019

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