Distoken Acquisition Stock (NASDAQ: DIST)

Latest news for Distoken Acquisition (NASDAQ:DIST) Stock

Distoken Acquisition Corp is a blank check company.

Distoken Acquisition Corporation - Ordinary Shares

Distoken Acquisition Corp

Distoken Acquisition Corporation - Right

Distoken Acquisition Corporation - Warrant

Distell Group Holdings Ltd Ordinary Shares

Distillate International Fundamental Stability & Value ETF

Distillate U.S. Fundamental Stability & Value ETF

DISTRIBUIDORA INT ALI ORD by Distribuidora Internacional De Alimentacion SA

Distribuidora Internacional De Alimentacion SA

Distribution Solutions Group, Inc. - Common Stock

Distribution Solutions Group Inc

DISTRICT COPPER CORP by District Copper Corp.

District Copper Corp

DISTRICT METALS CORP by District Metals Corp.

District Metals Corp

district0x - United States Dollar

WIIM

ARCB

ArcBest shares are trading lower after JP Morgan downgraded the stock from Overweight to Neutral and lowered its price target from $145 to $127.

Evercore ISI Group analyst Vijay Jayant maintains Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) with a In-Line and lowers the price target from $13 to $11.5.

News

Price Target

Analyst Ratings

PARA

Evercore ISI Group Maintains In-Line on Paramount Global, Lowers Price Target to $11.5

Cannabis industry heavyweights Curaleaf Holdings, Inc. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/curlf#OTC">CURLF</a>) and Trulieve Cannabis Corp. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tcnnf#OTC">TCNNF</a>) are set to release their second-quarter 2024 financial results in early August. With both companies showing promising growth and strategic expansions in Q1, investors and industry analysts are keenly awaiting the upcoming reports.
<h3>Curaleaf Holding Q1 2024 Recap</h3>
Curaleaf reported a Q1 2024 revenue of $339 million, marking a 2% increase year-over-year. The company&#39;s adjusted gross margin improved to 48%, reflecting effective cost management and operational efficiencies. Despite these gains, Curaleaf posted a net loss of $48.3 million, underscoring the significant investments and expansion costs that affect short-term profitability. CEO Matt Darin emphasized the company&rsquo;s global ambitions, citing legislative changes in key markets such as New York, Germany, and various U.S. states as critical growth catalysts.
Key developments in Q1 included the launch of innovative products like the Stir by Zero Proof THC beverage in Illinois and the Stiq vape product in Arizona. Additionally, the acquisition of Northern Green Canada (NGC) marked a strategic move to enhance Curaleaf&rsquo;s market presence. The company ended the quarter with $105 million in cash and generated $46 million in operating cash flow and $33 million in free cash flow.
<h3>Curaleaf&#39;s Q2 2024 Earnings Date</h3>
Curaleaf will announce its Q2 2024 results on August 7, 2024, after market close. A conference call and webcast will follow at 5:00 p.m. ET, where management will discuss operational and financial highlights. With the company&#39;s ongoing transformation from a multi-state operator (MSO) to a multi-country operator (MCO), expectations are high for continued progress in global markets.
<h3>Trulieve Cannabis Corp. Q1 2024 Recap</h3>
Trulieve reported Q1 2024 revenue of $298 million, a 4% increase both sequentially and year-over-year, with 96% of revenue derived from retail sales. CEO Kim Rivers highlighted the company&#39;s robust performance and bright outlook, driven by significant improvements in production and retail operations. Notably, Rivers shared the stage with The Bellamy Brothers at the Benzinga Cannabis Capital Conference, underscoring Trulieve&rsquo;s active role in the advocacy for recreational cannabis legalization in Florida.
Read Also:&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/04/38313915/cannabis-in-florida-the-bellamy-brothers-tell-trulieve-ceo-we-rolled-a-fat-one-when-legalization">Cannabis In Florida: The Bellamy Brothers Tell Trulieve CEO &#39;We Rolled A Fat One&#39; When Legalization Initiative Landed On November Ballot</a>
The company&#39;s financial highlights for Q1 included a gross profit of $174 million, up 16% year-over-year, and a gross margin of 58%. Operating expenses decreased to $128 million, resulting in a net loss of $23 million, which represents a substantial year-over-year reduction. Trulieve&rsquo;s adjusted EBITDA was positive at $106 million, supported by strong cash flow from operations amounting to $139 million and free cash flow of $124 million.
<h3>Trulieve&#39;s Q2 2024 Earnings Date</h3>
Trulieve will release its Q2 2024 results on August 6, 2024, with a conference call scheduled for 8:30 AM ET. CEO Kim Rivers and CFO Wes Getman will review the financial and operating results, providing insights into the company&#39;s strategic initiatives and market expansion efforts.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Cover image made with AI

Cannabis

Earnings

Penny Stocks

Small Cap

Markets

CURALEAF HLDGS INC by Curaleaf Hldgs Inc.

CURLF

TCNNF

Curaleaf And Trulieve's Q2 Earnings: When Are The Cannabis Giants Reporting?

Evercore ISI Group analyst Elizabeth Anderson maintains McKesson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCK#NYSE">MCK</a>) with a Outperform and raises the price target from $600 to $660.

Evercore ISI Group Maintains Outperform on McKesson, Raises Price Target to $660

Macro Economic Events

Economics

Federal Reserve

Fed Chair Powell says Am Not Sending Any Signals Today About Timing Of Future Fed Policy Actions

JP Morgan analyst Brian Ossenbeck maintains RXO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RXO#NYSE">RXO</a>) with a Underweight and raises the price target from $16 to $25.

JP Morgan Maintains Underweight on RXO, Raises Price Target to $25

In a dynamic shift for semiconductor giants, Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) sees its outlook soar while Advanced Micro Devices Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) faces challenges, reflecting analyst adjustments influenced by recent findings from <a href="https://www.benzinga.com/topic/semiconductors">Asia&#8217;s semiconductor market</a>.
In his latest report, analyst John Vinh from KeyBanc Capital Markets has made significant adjustments to price targets and estimates for Nvidia and AMD&#8217;s stock based on recent insights from Asia&#8217;s semiconductor landscape.
<h2 class="wp-block-heading">Nvidia Gets a Boost</h2>
Vinh has raised Nvidia stock&#8217;s price target from $130 to $180, citing robust demand in AI and data centers. 
Despite upcoming product launches, such as Blackwell in the second half of 2024, demand for NVDA&#8217;s H100 remains strong, with no signs of a slowdown. Vinh anticipates that the upcoming GB200 will play a crucial role, particularly NVL72, driving data center revenues to potentially exceed $200 billion by 2025.
Read Also: <a href="https://www.benzinga.com/news/24/07/39684828/nvidia-to-rally-over-40-here-are-10-top-analyst-forecasts-for-tuesday">Nvidia To Rally Over 40%? Here Are 10 Top Analyst Forecasts For Tuesday</a>
<h2 class="wp-block-heading">AMD Faces Mixed Signals</h2>
Conversely, Vinh adjusted AMD&#8217;s price target downwards from $230 to $220. 
While acknowledging positive signs like strong demand for 500K MI300X GPUs and improving traditional server demand, challenges persist in the embedded sector. AMD continues to navigate inventory destocking headwinds, impacting its overall outlook despite sector-wide improvements.
<h2 class="wp-block-heading">Asia Semiconductor Insights &#8211; Key Takeaways</h2>
Vinh&#8217;s quarterly supply chain findings reveal a nuanced picture: traditional server demand is on the rise, buoyed by major U.S. cloud providers and moderate improvements in enterprise and Chinese cloud service providers. 
However, challenges persist in the automotive market, hindering broader recovery efforts seen earlier in the year.
As semiconductor stocks navigate these mixed signals, active traders and investors alike will be closely monitoring earnings reports and market reactions. 
Nvidia and AMD&#8217;s divergent trajectories underscore the volatility and strategic shifts within the semiconductor industry, influenced heavily by global supply chain dynamics and technological advancements.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39674237/tsmcs-market-cap-hits-1-trillion-whats-going-on-with-the-stock">TSMC&#8217;s Market Cap Hits $1 Trillion: What&#8217;s Going On With The Stock?</a></li>
</ul>
Photo: Shutterstock

Analyst Color

Downgrades

Tech

NVDA

Nvidia Thrives On AI Demand As AMD Struggles With Embedded Market, Says Analyst

Evercore ISI Group analyst Elizabeth Anderson maintains Labcorp Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LH#NYSE">LH</a>) with a In-Line and raises the price target from $210 to $215.

Laboratory Corporation Of America Holdings

Evercore ISI Group Maintains In-Line on Labcorp Holdings, Raises Price Target to $215

Evercore ISI Group analyst Elizabeth Anderson maintains IQVIA Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IQV#NYSE">IQV</a>) with a Outperform and lowers the price target from $250 to $230.

Evercore ISI Group Maintains Outperform on IQVIA Hldgs, Lowers Price Target to $230

Kohls Corp Says Following Hurricane Beryl's Landfall In Houston, 11 Stores Re-opened On July 9, 12 Stores Remain Temporarily Closed

Global

U.S. Treasury's Yellen Says She Is Not Prepared To Answer Whether China's Designation As Developing Country Should Be Revoked, Opposes MDB Lending To China

Evercore ISI Group analyst Steve Sakwa maintains Invitation Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INVH#NYSE">INVH</a>) with a In-Line and raises the price target from $36 to $37.

INVH

Evercore ISI Group Maintains In-Line on Invitation Homes, Raises Price Target to $37

Evercore ISI Group analyst Ross Muken maintains Henry Schein (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSIC#NASDAQ">HSIC</a>) with a In-Line and lowers the price target from $75 to $72.

HSIC

Evercore ISI Group Maintains In-Line on Henry Schein, Lowers Price Target to $72

JP Morgan analyst Brian Ossenbeck maintains GXO Logistics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GXO#NYSE">GXO</a>) with a Overweight and raises the price target from $61 to $63.

JP Morgan Maintains Overweight on GXO Logistics, Raises Price Target to $63

<a href="https://www.youtube.com/watch?v=rfzg07kXD6M" title="https://www.youtube.com/watch?v=rfzg07kXD6M">https://www.youtube.com/watch?v=rfzg07kXD6M</a>

Fed Chair Powell Says Unemployment Is Still Low By Historical Standards; Job Creation Is Narrowing In The Economy

The U.S. Federal Reserve is considering revising a key rule that could save the nation&#8217;s <a href="https://www.benzinga.com/topic/big-banks">largest banks billions in capital</a>.
This potential change addresses the &#8220;GSIB surcharge,&#8221; an additional capital layer imposed on the U.S. global systemically important banks (GSIBs) to enhance their stability, first introduced in 2015.
The Fed is evaluating updates to the inputs used for calculating this surcharge, which could more accurately reflect the banks&#8217; size relative to the global economy, reported Reuters.
If implemented, these changes could largely reduce the capital requirements for major banks like JPMorgan Chase &amp; Co(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Citigroup Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), and Bank of America Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>). 
Collectively, U.S. GSIBs held approximately $230 billion in capital due to the surcharge in the first-quarter 2024, according to Fed data.
The other GSIBs include Wells Fargo &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), Goldman Sachs Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), Bank of New York Mellon Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>), and State Street Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>).
Also Read: <a href="https://www.benzinga.com/news/24/06/39563519/us-banks-bump-up-dividends-following-feds-successful-stress-test">US Banks Bump Up Dividends Following Fed&#8217;s Successful Stress Test</a>
The surcharge was introduced post-2009 financial crisis to enhance resilience among large banks. The Fed set coefficients in 2015 using data from 2012-2013, aiming for predictability. 
However, GSIBs argue the outdated methodology makes them appear larger relative to the global economy, inflating their capital requirements.
Updating the coefficients could reduce banks&#8217; systemic scores and capital surcharges, with even a 0.5% reduction potentially saving banks like JPMorgan and Bank of America over $8 billion each. 
This would allow banks to reinvest more capital into the economy through lending.
Fed officials are wary of appearing to benefit a few large banks, but the recent &#8220;Basel Endgame&#8221; proposal, aimed at raising capital for GSIBs, has reignited discussions. 
While some believe updating the coefficients is separate from Basel reforms, it could serve as an independent measure to balance increased capital requirements.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/06/39519493/morgan-stanley-to-roll-out-openai-powered-assistant-for-financial-advisors-quality-and-depth-of-the">Morgan Stanley To Roll Out OpenAI-Powered Assistant For Financial Advisors: &#8216;Quality And Depth Of The Notes Are Just Significantly Better&#8217;</a></li>
</ul>
Image: Shutterstock

General

US Federal Reserve Considers Rule Change To Save Largest Banks Billions In Capital: Report

Evercore ISI Group analyst Elizabeth Anderson maintains Health Catalyst (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HCAT#NASDAQ">HCAT</a>) with a Outperform and lowers the price target from $9 to $8.

HCAT

Evercore ISI Group Maintains Outperform on Health Catalyst, Lowers Price Target to $8

JP Morgan analyst Tessa Romero maintains Edgewise Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWTX#NASDAQ">EWTX</a>) with a Overweight and raises the price target from $27 to $30.

EWTX

JP Morgan Maintains Overweight on Edgewise Therapeutics, Raises Price Target to $30

VEON Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VEON#NASDAQ">VEON</a>), a global digital operator that provides converged connectivity and online services ("VEON" or the "Company"), is pleased to announce that, following the consent of its respective bondholders and the receipt of a licence from U.S. Treasury's Office of Foreign Assets Control (OFAC), it has now amended the original VEON Holdings B.V. notes due April 2025, June 2025 and November 2027 (collectively, the "Original Notes").
VEON Holdings will no longer be required to make principal or interest (including any accrued interest) payments under the Original Notes. As such, the Original Notes are effectively economically cancelled. In May and June 2024, VEON Holdings B.V. issued new April 2025, June 2025 and November 2027 notes to eligible investors who participated in the consent solicitation or the subsequent exchange. VEON Holdings also executed the early redemption of its September 2025 and September 2026 notes in full on 18 June 2024.

VEON

VEON Receives License From U.S. Treasury's OFAC, Amends 2025 And 2027 Notes; Also Settled Residual Deferred Consideration Related To Disposal Of PJSC VimpelCom

Evercore ISI Group analyst Steve Sakwa maintains Essex Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) with a In-Line and raises the price target from $254 to $260.

Evercore ISI Group Maintains In-Line on Essex Property Trust, Raises Price Target to $260

Youlife International to list itself through SPAC deal with Distoken

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Interest in special purpose acquisition companies (SPACs) has popped higher off the announcement that Youlife &mdash; billed as a leading blue-collar lifetime service platform in China &mdash; will merge with Distoken Acquisition (NASDAQ:<a href="https://investorplace.com/stock-quotes/dist-stock-quote/">DIST</a>), a blank-check firm. Frankly, SPACs have not enjoyed an encouraging performance history post-business combination. However, the Youlife SPAC might buck this negative trend due to underlying economic dynamics.



According to a <a href="https://www.prnewswire.com/news-releases/youlife-international-and-distoken-acquisition-corporation-announce-definitive-business-combination-agreement-302150154.html">press release</a> earlier Monday morning, Youlife seeks to develop a &ldquo;leading position&rdquo; in the blue-collar service industry. Among the company&rsquo;s advantages are strategic frameworks for expansion in emerging markets, a burgeoning network of blue-collar service providers and the deployment of artificial intelligence (AI).



Through the enterprise&rsquo;s U.S. listing, Youlife aims to promote its &ldquo;growth strategy and commit itself to becoming the preferred lifelong service platform for global blue-collar talent.&rdquo; In addition to the capital raise, a public listing on the Nasdaq should go a long way to fostering visibility.



As an added bonus, initial public offerings (IPOs) <a href="https://kpmg.com/us/en/articles/2022/ipo-insights-q4-2022.html#:~:text=In%202022%2C%20just%2071%20IPOs,public%20exits%20more%20than%20hungry1.">collapsed in 2022</a> due to a range of economic challenges. Further, the blistering run of new listings in the prior years couldn&rsquo;t be sustained. However, with interest in the space steadily returning, the Youlife SPAC is getting more of the spotlight.



<h2>Youlife SPAC Offers the Potential to Buck the Downcast Trend</h2>



Throughout the early years of the Covid-19 crisis, SPAC-based IPOs were all the rage. In a sense, the positive sentiment was understandable. Pre-merger SPAC investors don&rsquo;t know what enterprise the underlying blank-check firm will combine with. Should it find a target to their disliking, pre-merger shareholders typically have the <a href="https://www.alston.com/en/insights/publications/2023/06/spac-redemptions#:~:text=Redemptions%20can%20occur%20in%20two,shareholders%20don't%20like%20it.">right to redeem their equity holdings</a>.



Fundamentally, this process enabled regular retail investors to participate in a new listing near the ground floor. However, as the Yale Journal on Regulation noted, the honeymoon quickly faded. Headwinds that many investors didn&rsquo;t appreciate, such as the SPAC&rsquo;s <a href="https://www.yalejreg.com/bulletin/was-the-spac-crash-predictable/">inherent incentivization for dilution</a>, contributed to a severe collapse of these IPOs post-business combination.



Naturally, this backdrop presents a dark cloud over the Youlife SPAC by association. However, it&rsquo;s also important to note that this particular IPO may buck the trend. Fundamentally, the enterprise&rsquo;s narrative stands on viable ground.



According to China Daily, blue-collar workers in the nation are <a href="https://www.chinadaily.com.cn/a/202403/05/WS65e66fc2a31082fc043ba967.html">seeing better pay and enhanced rights</a>. Significantly, the monthly income gap between white and blue collars has narrowed. Per one study, &ldquo;the average monthly salary of white-collar workers was 2.4 times higher than blue-collar workers in 2012, but that dropped to 1.39 last year.&rdquo;



<h2>Why It Matters</h2>



Another factor that could bolster the Youlife SPAC is the <a href="https://www.sixthtone.com/news/1012053">rising demand for service workers</a>. Per Sixth Tone, &ldquo;China&rsquo;s blue-collar workers are getting older and lack basic and professional skills, a new report has found, highlighting a shortage of younger and skilled workers in the manufacturing and service sectors.&rdquo; While it doesn&rsquo;t guarantee success, Youlife certainly enjoys a fundamental tailwind.



On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.</div><h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2023/10/no-1-ai-investment-might-be-this-company-youve-never-heard-of/?cid=MKT764787&amp;eid=MKT771245">The #1 AI Investment Might Be This Company You&rsquo;ve Never Heard Of</a>
					</li>
																<li>
						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT771236">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
					</li>
																<li>
						<a href="https://investorplace.com/2021/01/one-percenter-issues-urgent-warning/?cid=MKT499868&amp;eid=MKT793997">It doesn&rsquo;t matter if you have $500 or $5 million. Do this now.</a>
					</li>
									</ul><div>
			<div></div>
						<div></div>
					</div>
	The post <a href="https://investorplace.com/2024/05/are-spacs-back-youlife-to-go-public-via-distoken-merger/">Are SPACs Back? Youlife to Go Public via Distoken Merger.</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Are SPACs Back? Youlife to Go Public via Distoken Merger.

Distoken Acquisition receives non-compliance notice from Nasdaq

DIST

Press Releases

Youlife International and Distoken Acquisition Corporation Announce Definitive Business Combination Agreement

Distoken Acquisition Corporation Receives Expected Notice from Nasdaq Regarding Delayed Quarterly Filing

Distoken Acquisition

Trading Halt: Halt status updated at 9:55:00 AM ET: Quotation Resumption: News and Resumption Times

Youlife International to Go Public in the U.S. Through such Business Combination, Opening up a New Horizon for Long-Term Development

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distoken Acquisition

News

Latest news for Distoken Acquisition (NASDAQ:DIST) Stock

Monday, May 20, 2024