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Here's Why Analysts Remained Bullish On Microsoft Despite Price Target Cut

Two analysts remained bullish despite slashing their price targets on Microsoft Corp (NASDAQ:MSFT). Citigroup analyst Tyler Radke maintained Microsoft with a Buy and lowered the price target from $386 to $355 (24.8% upside). Amidst rising investor concerns around the sustainability of robust software demand and valuation multiples, Citi analyst Tyler Radke expects MSFT's results to…

Benzinga

Lockheed Martin Shares Fall After Q1 Revenue Miss

Lockheed Martin Corp (NYSE:LMT) reported a first-quarter FY22 net sales decline of 8% year-over-year to $14.96 billion, missing the consensus of $15.55 billion. EPS declined to $6.44 from $6.56 in 1Q21, beating the consensus of $6.21. The operating profit decreased by 11.4% Y/Y to $1.93 billion, and the margin contracted by 50 bps…

Benzinga

Rolls-Royce Small Nuclear Reactor Likely To Win UK Approval

A Rolls-Royce (OTC:RYCEY) (OTC:RYCEF) design for a small modular nuclear reactor (SMR) will likely win U.K. regulatory approval by mid-2024 and produce grid power by 2029, Reuters reports. In the meantime, Rolls-Royce will start manufacturing parts of the design that are most unlikely to change. Each 470 MW SMR unit costs 1.8 billion…

Benzinga

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Here's Why EV Demand Continues To Soar Amid Odds

Global EV sales in the first quarter jumped nearly 120% Y/Y even with sticker prices surging, contradicting the decade and a half myth of EV sales breaking out only after battery costs dropped below a threshold, Reuters reports. The 2022 EV demand has stayed strong even as the average cost of…

Benzinga

Gogoro Confident Of Its Chip Supply: Reuters

Taiwanese electric scooter maker Gogoro Inc’s (NASDAQ:GGR) Chief Executive Officer Horace Luke said that the company has an adequate amount of chips to meet its needs, Reuters reported. The report quoted Luke saying the company used far fewer chips than electric car makers and has a healthy supply of chips. Meanwhile, CEO Luke warned…

Benzinga

Johnson & Johnson Suspends Sales Forecast For COVID-19 Vaccine, Trims FY22 Profit Outlook

Johnson & Johnson (NYSE:JNJ) has reported Q1 FY22 adjusted earnings of $2.67 per share, up 3.1% Y/Y and ahead of the consensus of $2.61. Net sales increased 5% Y/Y (7.9% on an operational basis) to $23.43 billion, missing the consensus of $23.67 billion. Pharmaceuticals contributed $12.87 billion in sales, +9.3%, due to Darzalex…

Benzinga

As Donald Trump tried to hold onto the White House, the wife of a Supreme Court justice picked up her phone

The spouses of Supreme Court justices rarely make the news. But Ginni Thomas is becoming more famous than her husband as her politics shift from conservative to controversial.

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NetGear Shares Slides Post Q1 Preliminary Results

NetGear, Inc. (NASDAQ:NTGR) reported first-quarter preliminary results. It plans to release the full results on April 27, 2022. NTGR reduced its revenue guidance and now expects net revenue to be between $202 million and $212 million, compared to prior guidance of $225 million to $240 million. The company says the U.S. consumer…

Benzinga

Massachusetts Activists Push For Psychedelics Decriminalization: What You Need To Know

Activists in Massachusetts are looking to decriminalize psychedelics locally and at the state level: a new campaign by the Bay Staters for National Medicine is gathering signatures to include a decriminalization measure on the November ballot, Marijuana Moment reported. The Worcester Decrim Effort: If enough signatures are gathered, Worcester voters could decriminalize low-level…

Benzinga

Why Rite Aid Shares Are Soaring Today

Rite Aid Corp (NYSE:RAD) has reported Q4 FY22 sales of 6.06 billion, +2.5% Y/Y, beating the consensus of $5.95 billion. The Company reported an EPS loss of $(1.63) compared to $(0.78) a year ago. The growth is driven by growth in the Retail Pharmacy, partially offset by a decline in the Pharmacy…

Benzinga

Australia's Rio Tinto Quits State Mining Lobby Over Climate Rift: Reuters

Reuters reported that Australia's Rio Tinto plc (NYSE:RIO) confirmed its exit from the state mining lobby group after raising concerns that its policy on expanding coal mines did not align with the Paris Climate Agreement. Global corporations have been attempting to appease authorities and shareholders by striving for higher emission cuts to comply with…

Benzinga

Bed Bath & Beyond Shares Plunge On Q4 Earnings Miss

Bed Bath & Beyond Inc (NASDAQ:BBBY) reported a fourth-quarter FY21 sales decline of 22% year-on-year to $2.05 billion, missing the consensus of $2.08 billion. Adjusted core sales fell 14%, and the adjusted comparable sales declined 12%. Adjusted gross margin contracted 400 basis points to 28.8%. Adjusted EBITDA loss was $(30) million, with the…

Benzinga

New Psilocybin Research Bill In Oklahoma Would Allow Production Of Mushrooms, But No Decrim Moves Yet

Last Monday, an Oklahoma Senate committee approved a psilocybin research bill, which would allow for the cultivation and administration of the substance by some institutions, Marijuana Moment reported. However, an initial decriminalization provision had to be amended for the bill to pass. The legislation was presented by Sen. Daniel Pae…

Benzinga

Hidden women of history: 'the Buzzwinker' Ellen Miles, child convict, goldfields pickpocket and vagrant

—Me name’s Miles; Ellen Miles, remarked an old woman at the City Court yesterday. —And you are charged with vagrancy, stated Sergeant Eason. Can you show the Bench that you have means of support? —'How can I support myself when I’m continually in gaol and not a shilling coming into…

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Benzinga

Recreational Psychedelics Company Red Light Holland Expands Mushroom Farms Division

Red Light Holland Corp. (OTC:TRUFF) has signed a purchase and sales agreement to acquire 100 acres of farmland in Peterborough, Ontario. The transaction, which amounts to around CA$1.85 million ($1.47 million), is expected to close in June 2022. Acadian Exotic Mushrooms Ltd. (AEM), a gourmet mushroom production facility of which…

Benzinga

US Sanctions Russian State-Controlled Diamond Miner That Controls 30% Of Global Supply: Bloomberg

The U.S. Treasury has extended sanctions to Russian diamond miner Alrosa PJSC, potentially cutting off about 30% of the world’s supply of rough stones, writes Bloomberg. According to a license from the U.S. Office of Foreign Assets Control, clients of Alrosa and other counterparties must stop all dealings with the miner by…

Benzinga

Nova Mentis Is Looking To Treat Autism With Psilocybin

Nova Mentis Life Science Corp. (OTCQB:NMLSF) and the private college Toronto Institute of Pharmaceutical Technology have signed a contract for the production of psilocybin capsules. The company will supply the microdose capsules for a Phase 2A fragile X syndrome (FXS) clinical study. FXS, also known as Martin-Bell syndrome, is one…

Benzinga

Moon Knight's Oscar Isaac Opens Up On Taking Psilocybin With Ethan Hawke

Oscar Isaac, one of the most recognizable personalities at the moment with roles in record-breaking films such as Ex Machina, Dune and the three latest Star Wars movies, has cemented his position as a great actor. Lately, he has been on a publicity tour for his most recent show, Moon Knight, and was recently a…

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Boeing 737 MAX Lands In China Amid Uncertainty Over Model's Return: Reuters

A Boeing Co (NYSE:BA) 737 MAX intended for China Eastern Airlines (NYSE:CEA) subsidiary Shanghai Airlines landed in Shanghai on Thursday, according to flight-tracking websites, amid uncertainty about when the model will resume flying in China, reported Reuters. Flight BOE631 from Guam came more than three weeks after the first 737 MAX bound for a Chinese…

Benzinga

Blackhawk Growth To Acquire Mycology Supplier Blum Distributors

The investment holding company Blackhawk Group (CSE:BLR) announced that it has entered into an all-stock purchase agreement with Blum Distributors Ltd. Blum is a mycology supplier with in-house product cultivation, distribution and sales center. The company recently signed a contract with Applied Myco to provide a white label solution. The contract guarantees…

Benzinga

Maryland Bill Would Give Veterans Access To Psychedelics As A Form Of PTSD Treatment

This week, a Senate-passed bill to create a state fund to provide psychedelics to military veterans was taken up by a Maryland House of Delegates. The goal of the fund is to provide “cost-free” access to substances such as psilocybin, MDMA, and ketamine to treat post-traumatic stress disorder (PTSD) and traumatic…

Benzinga

Trump's Social Media Venture Abruptly Loses Key Officials; Sparks Concerns

Tech chief Josh Adams and product development chief Billy Boozer have resigned from former President Donald Trump's 'Truth Social' in less than a year, Reuters reports. Sources said, "If Josh has left… all bets are off," calling him the "brains" behind Truth Social's technology. Boozer also had a significant leadership role…

Benzinga

SoftBank Loses Vision Fund Leader; Continues To Liquidate Portfolio

Ron Fisher looked to depart as the head of SoftBank Group Corp's (OTC:SFTBY) (OTC:SFTBF) Vision Fund and Chair and director of SoftBank Investment Advisors U.S. on April 15, Bloomberg reports. Fisher would remain a senior advisor to SoftBank's founder and CEO, Masayoshi Son. Fisher left SoftBank's board in 2021. Fisher began working with…

Benzinga

Amazon's Unionization Would Hit Its Profitability, Morgan Stanley Says

Morgan Stanley analysts saw Amazon.com Inc's (NASDAQ:AMZN) unionization decision driving costs, CNBC reports. Morgan Stanley analysts saw Amazon's 2023 operating expenses increasing by $203 million on hiking JFK8 employees' hourly wages to $29. It served a tiny fraction of Amazon's annual operating costs, which reached $445 billion in 2021. Every 1% of Amazon's front-line…

ABC News

Xi Jinping once called Vladimir Putin his ‘bosom buddy’, but Russia's failing gambit in Ukraine hands China an opportunity

China wants to strengthen ties with Russia, but given the complex love-hate relationship between the two powers, it's not clear how that will play out in Ukraine.

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