Latest news for ESR Group (OTC:ESRCF) Stock

ESR Group, or ESR, is one of the largest real asset managers in the Asia-Pacific, with USD 156 billion in total assets under management as of Dec. 31, 2023. Most of its earnings are derived from fund management, where it manages underlying assets in investment vehicles such as a fund or REIT for fee income and a share of profits. It also develops and holds investment properties on its balance sheet for rental income and capital appreciation and will divest them into its managed funds and REITs over time to unlock and recycle the capital into other investment opportunities. In addition, to align its interest with its capital partners, ESR co-invests in the funds and REITs that it manages where it generates dividend income, pro rata earnings and value appreciation.

ESR Group Ltd

News

Guidance

SPGI

S&P Global Raises FY24 Revenue Outlook To 8.0%-10.0% (Prior 6.0%-8.0%) Vs $13.55B Est, Adj EPS Of $14.35-$14.60 Vs $14.33 Est

The Company is updating its previously issued fiscal full year 2024&nbsp;outlook. For fiscal full year 2024, OneWater anticipates dealership same-store sales to be down mid-single digits. Adjusted EBITDA2&nbsp;is expected to be in the range of&nbsp;$90 million&nbsp;to&nbsp;$100 million&nbsp;and adjusted earnings per diluted share2&nbsp;is expected to be in the range of&nbsp;$1.50&nbsp;to&nbsp;$2.00.

ONEW

OneWater Marine Sees FY24 Adjusted Earnings Per Diluted Share In The Range Of $1.50 To $2.00 Vs. $3.29 Estimate (Prior View: $3.25-$3.75)

The private placement will be for 10,551,718 shares of common stock at a price of $14.50 per share. In lieu of shares of common stock, certain investors purchased 1,517,241 pre-funded warrants at a purchase price of $14.4999 per pre-funded warrant, which equals the purchase price per share of common stock, less the $0.0001 per share exercise price of each pre-funded warrant. The pre-funded warrants are exercisable at any time after their original issuance and will not expire.

Biotech

Health Care

Financing

Offerings

General

DAWN

Day One Biopharmaceuticals Announced An Oversubscribed Private Placement Of Gross Proceeds Of Approximately $175M, Offering 10.55M Shares At $14.50 Per Share

Contracts

Barnes Aerospace Announces Long-Term Agreement With MTU Aero Engines AG For $33M

ARMP

Armata Pharmaceuticals Has Received Additional $5.25M Of Non-dilutive Funding Pursuant To Previously Announced Department Of Defense Grant To Support Development Of Its Optimized Phage Candidate, AP-SA02, For Complicated Staphylococcus Aureus Bacteremia

Management

PLUG

Plug Power Appoints Amazon Executive Dean Fullerton As New Operations Chief

JP Morgan analyst John Ivankoe maintains McDonald's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) with a Overweight and lowers the price target from $290 to $270.

Price Target

Analyst Ratings

JP Morgan Maintains Overweight on McDonald's, Lowers Price Target to $270

Earnings

Earnings Beats

S&P Global Q2 2024 Adj. EPS $4.04 Beats $3.65 Estimate, Sales $3.549B Beat $3.421B Estimate

Morgan Stanley analyst James Faucette maintains Block (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>) with a Underweight and lowers the price target from $60 to $55.

Morgan Stanley Maintains Underweight on Block, Lowers Price Target to $55

Needham analyst Charles Shi maintains Amkor Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMKR#NASDAQ">AMKR</a>) with a Buy and raises the price target from $40 to $45.

AMKR

Needham Maintains Buy on Amkor Tech, Raises Price Target to $45

JP Morgan analyst Harlan Sur maintains ON Semiconductor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) with a Neutral and raises the price target from $85 to $88.

JP Morgan Maintains Neutral on ON Semiconductor, Raises Price Target to $88

In a shocking turn of events, QXO Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NASDAQ">QXO</a>) a company associated with former President Donald Trump&#8216;s son-in-law Jared Kushner, experienced a drastic 80% drop in pre-market trading.
The company&#8217;s shares fell sharply to $12.00 from Monday&#8217;s closing price of $60.50, according to <a href="https://pro.benzinga.com">Benzinga Pro.</a> This sudden decline was triggered by the registration of two private placements with the U.S. Securities and Exchange Commission, which unlocked millions of shares and led to increased selling pressure, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-07-29/high-flying-qxo-erases-36-billion-in-paper-value-in-minutes">reported</a> on Tuesday.
QXO, which held a valuation of over $90 billion just last week, has now lost approximately $36 billion in paper value. The company&#8217;s current valuation is around $8.6 billion on a fully diluted basis.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001633/scaramucci-i-agree-with-every-single-thing-trump-has-said-on-bitcoin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Scaramucci: &#8216;I Agree With Every Single Thing&#8217; Trump Has Said On Bitcoin</a>
Initially, QXO was funded with a $1 billion investment by a group led by Brad Jacobs into Nasdaq-listed SilverSun Technologies Inc. Since then, the company has raised billions through private placements, even as its stock price soared to a high of $290 per share in June.
Earlier this month, QXO&#8217;s stock had surged by 112% following the announcement of a $620 million private placement that included $150 million from Kushner&#8217;s Affinity Partners. Kushner was also appointed to QXO&#8217;s board of directors.
Read Next: 
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Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Equities

Pre-Market Outlook

Markets

Trump's Son-In-Law-Backed Software Giant QXO Drops 80% In Pre-Market, Valuation Nosedives From $90B To $8.6B

Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>) reported quarterly earnings of $0.47 per share which beat the analyst consensus estimate of $0.46 by 2.17 percent. The company reported quarterly sales of $3.60 billion which beat the analyst consensus estimate of $3.54 billion by 1.67 percent. This is a 3.50 percent increase over sales of $3.48 billion the same period last year.

Corning Q2 2024 Adj EPS $0.47 Beats $0.46 Estimate, Sales $3.60B Beat $3.54B Estimate

CMCSA

DataBee, From Comcast Technology, Launches A Gen AI Powered Chatbot To Tackle The Challenge Of Finding And Validating Asset Owners

SOFI

SoFi Sees FY24 Revenue $2.425B-$4.465B Vs $2.783B Estimate, $2.39B-$2.43B Prior

B of A Securities analyst Derik De Bruin maintains Revvity (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RVTY#NYSE">RVTY</a>) with a Neutral and raises the price target from $118 to $127.

RVTY

B of A Securities Maintains Neutral on Revvity, Raises Price Target to $127

Laboratory Corporation Of America Holdings

Labcorp Expands Partnership With Ultima Genomics To Boost Whole Genome Sequencing Applications And Oncology Testing Capabilities

2024 Financial Guidance
Incyte is raising the low end of its full year 2024 Jakafi revenue guidance as well as updating its full year 2024 research and development guidance to reflect the ongoing impact of the acquisition of Escient Pharmaceuticals. The research and development guidance excludes $691 million of upfront consideration recorded relating to the acquisition of Escient Pharmaceuticals. Incyte is maintaining its full year 2024 other hematology/oncology revenue guidance, as well as its cost of product revenue and selling, general and administrative guidance. Incyte&#39;s guidance is summarized below. Guidance does not include revenue from any potential new product launches or the impact of any potential future strategic transactions.
<table cellspacing="0">
<tbody>
<tr>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
Current
</td>
<td colspan="1" rowspan="1">
Previous
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Jakafi net product revenues
</td>
<td colspan="1" rowspan="1">
$2,710 - $2,750 million
</td>
<td colspan="1" rowspan="1">
$2,690 - $2,750 million
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Other Hematology/Oncology net product revenues(1)
</td>
<td colspan="1" rowspan="1">
Unchanged
</td>
<td colspan="1" rowspan="1">
$325 - $360 million
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
GAAP Cost of product revenues
</td>
<td colspan="1" rowspan="1">
Unchanged
</td>
<td colspan="1" rowspan="1">
7 &ndash; 8% of net product revenues
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Non-GAAP Cost of product revenues(2)
</td>
<td colspan="1" rowspan="1">
Unchanged
</td>
<td colspan="1" rowspan="1">
6 &ndash; 7% of net product revenues
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
GAAP Research and development expenses
</td>
<td colspan="1" rowspan="1">
$1,755 - $1,800 million
</td>
<td colspan="1" rowspan="1">
$1,720 - $1,760 million
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Non-GAAP Research and development expenses(3)
</td>
<td colspan="1" rowspan="1">
$1,615 - $1,655 million
</td>
<td colspan="1" rowspan="1">
$1,580 - $1,615 million
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
GAAP Selling, general and administrative expenses
</td>
<td colspan="1" rowspan="1">
Unchanged
</td>
<td colspan="1" rowspan="1">
$1,210 - $1,240 million
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Non-GAAP Selling, general and administrative expenses(3)
</td>
<td colspan="1" rowspan="1">
Unchanged
</td>
<td colspan="1" rowspan="1">
$1,115 - $1,140 million
</td>
</tr>
</tbody>
</table>

INCY

Incyte Forecasts 2024 Jakafi Net Product Revenue Of $2.71B-$2.75B Versus Prior Guidance Of $2.69B-$2.75B

This product family is intended to provide a pathway through which medical instruments, such as balloon dilatation catheters, guidewires, or other therapeutic devices, may be introduced into the peripheral vasculature or chambers and coronary vasculature of the heart.

BCDA

BioCardia Says Submitted 510(K) For Approval Of Its Patented Morph DNA Steerable Introducer Sheath

HC Wainwright &amp; Co. analyst Swayampakula Ramakanth reiterates Ekso Bionics Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EKSO#NASDAQ">EKSO</a>) with a Buy and maintains $10 price target.

The Only Monthly Membership With a Positive ROI!

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The Only Monthly Membership With a Positive ROI!

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ESR Group

News

Latest news for ESR Group (OTC:ESRCF) Stock