Global Blockchain Acquisition Corp. - Right Stock (NASDAQ: GBBKR)

Latest news for Global Blockchain Acquisition Corp. - Right (NASDAQ:GBBKR) Stock

Global Blockchain Acquisition Corp. - Right

In addition, the Agreement ends all existing credit ties with the Agreement parties, removes the existing lien against Talicia&reg; and restores control over cash collections back to RedHill.

Biotech

News

Health Care

General

RDHL

Redhill Biopharma Terminates Agreement With Movantik Acquisition, Valinor Pharma, And Hcr Redhill, And Received ~$9.9M In Cash And Gained Full Control Over An Additional $0.74M Currently Held In Restricted Account

Wolfe Research analyst Steven Chubak downgrades Stifel Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SF#NYSE">SF</a>) from Outperform to Peer Perform.

Downgrades

Analyst Ratings

Wolfe Research Downgrades Stifel Financial to Peer Perform

Barclays analyst Nicholas Campanella downgrades Consolidated Edison (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ED#NYSE">ED</a>) from Equal-Weight to Underweight and lowers the price target from $97 to $92.

Price Target

Barclays Downgrades Consolidated Edison to Underweight, Lowers Price Target to $92

WIIM

Abercrombie & Fitch shares are trading higher after JP Morgan upgraded the stock from Neutral to Overweight and raised its price target from $167 to $194.

Boeing (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) and Luxair announced today the European regional carrier is again ordering a new member of the 737 MAX family to power its sustainable growth. A year after purchasing the 737-7 and 737-8 models, Luxair has now placed an order for two 737-10 airplanes with options for two more. The 737-10 is the largest model in the MAX family and provides the best economics of any single-aisle jet.
<a href="https://mma.prnewswire.com/media/2466044/Luxair_737_10_HD.html" target="_blank"><img alt="Boeing and Luxair announced today the European regional carrier placed an order for two 737-10 airplanes with options for two more. (PRNewsfoto/Boeing)" src="https://mma.prnewswire.com/media/2466044/Luxair_737_10_HD.jpg" /></a>
&quot;The purchase of the 737-10 is another step towards Luxair positioning for its future with the investment in the latest airplane technology that will support Luxair&#39;s growth plans and the decarbonization of our fleet. There is high commonality between the 737 MAX models, and this allows for significant operational savings for the airline,&quot; said&nbsp;Gilles Feith, Luxair CEO.
&quot;In addition to reducing overall fuel use and emissions, the 737 MAXs will help create a&nbsp;50 percent&nbsp;smaller noise footprint by reducing noise generated by takeoffs and landings at Luxembourg Airport.&quot;
The 737 MAX family reduces fuel use and carbon emissions&nbsp;20 percent&nbsp;compared to the airplane it replaces, providing operators greater efficiency along with fleet commonality. With the 737-10&#39;s size, operators can carry more passengers and realize the lowest cost per seat of any single-aisle airplane.
Luxair plans to operate its new 737-10s to offer passengers a minimum of 30-inch seat pitch. In this configuration, the airline can fly up to 213 passengers on routes stretching 5,740 km (3,100 nautical miles), resulting in more capacity and range to capitalize on growing leisure travel.

Luxair Orders Boeing 737-10 to Boost Sustainable Growth and Fleet Efficiency

Morgan Stanley analyst Ole Slorer upgrades Fiserv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>) from Equal-Weight to Overweight and raises the price target from $154 to $175.

Upgrades

Morgan Stanley Upgrades Fiserv to Overweight, Raises Price Target to $175

Cyngn Regains Nasdaq Compliance, No Increase In Authorized Shares Confirmed

Analysts predict that the recent global tech outage caused by cybersecurity firm CrowdStrike (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) could cost over $1 billion, but the question of who will foot the bill remains unanswered.
What Happened: Experts predict that there will be demands for remuneration and possibly lawsuits, CNN <a href="https://edition.cnn.com/2024/07/21/business/crowdstrike-outage-cost/index.html">reported</a> on Monday.
&#8220;If you&#8217;re a lawyer for CrowdStrike, you&#8217;re probably not going to enjoy the rest of your summer,&#8221; said Dan Ives, a tech analyst for Wedbush Securities.
On Friday, CrowdStrike was identified as the source of a massive global tech outage, which led to the cancellation of over 5,000 commercial airline flights worldwide and caused disruptions in various sectors, from retail to healthcare. The issue was traced back to a few bits of faulty code in a software content update by CrowdStrike.
The company acknowledged the issue in a social media post late Sunday, stating that a &#8220;significant number&#8221; of the approximately 8.5 million affected devices were back online. However, CrowdStrike has not addressed whether it plans to provide compensation to affected customers.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39871849/analyst-predicts-bitcoin-to-soar-by-83-but-theres-one-major-catch-were-going-to-get-that-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Analyst Predicts Bitcoin To Soar By 83%, But There&#8217;s One Major Catch: &#8216;We&#8217;re Going To Get That Continuation As Long As &#8230;&#8217;</a>
Despite the uncertainty, some experts believe that CrowdStrike&#8217;s customer contracts may shield it from liability. 
&#8220;I would guess that the contracts protect them,&#8221; said James Lewis, a researcher at the Center for Strategic and International Studies.
While the final cost of the outage is yet to be determined, the damage to CrowdStrike&#8217;s reputation could be significant, potentially making it difficult for the company to attract new customers.
Why It Matters: The outage, triggered by a <a href="https://www.benzinga.com/news/24/07/39873706/crowdstrike-outage-impacted-less-than-1-of-windows-devices-but-still-managed-to-wreak-havoc-report">faulty update from CrowdStrike</a>, impacted millions of Windows users, causing widespread disruptions to various services worldwide. The incident, which was not a result of a hacker attack, was due to a technical error in the software update.
Following the incident, Jen Easterly, director of the Cybersecurity and Infrastructure Security Agency, criticized CrowdStrike&#8217;s faulty software <a href="https://www.benzinga.com/news/24/07/39875506/crowdstrikes-faulty-microsoft-windows-update-gets-slammed-by-us-cybersecurity-official-was-a-huge-de">update as a "serious mistake"</a> with significant impacts on critical infrastructure operations across the world.
Price Action: On Monday&#8217;s pre-market, CrowdStrike shares were down 3.54% at $294.15 while Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) shares were up 0.7% at $440.15., at the time of writing, according to <a href="https://pro.benzinga.com">Benzinga Pro.</a>
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cannabis/24/07/39865930/from-giant-to-gone-billion-dollar-cannabis-company-medmen-sells-off-its-property-under-receivers?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">MedMen Property Sell-Off Under Receivership, State by State</a></li>
</ul>
Photo courtesy: Wikimedia
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>

Tech

CRWD

MSFT

'If You're A Lawyer For Crowdstrike, You're Probably Not Going To Enjoy The Rest Of Your Summer,' Say Dan Ives As Microsoft-Crowdstrike Outage Could Top $1B In Costs

SERV

Serve Robotics shares are trading higher after Nvidia last week disclosed a stake in the company.

Wedbush analyst Richard Anderson upgrades EastGroup Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGP#NYSE">EGP</a>) from Neutral to Outperform and raises the price target from $162 to $208.

Wedbush Upgrades EastGroup Props to Outperform, Raises Price Target to $208

HBT Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBT#NASDAQ">HBT</a>) reported quarterly earnings of $0.57 per share which beat the analyst consensus estimate of $0.56 by 1.79 percent. This is a 1.72 percent decrease over earnings of $0.58 per share from the same period last year. The company reported quarterly sales of $56.64 million which missed the analyst consensus estimate of $57.01 million by 0.65 percent. This is a 3.65 percent decrease over sales of $58.79 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

HBT Finl Q2 Adj $0.57 Beats $0.56 Estimate, Sales $56.64M Miss $57.01M Estimate

Guidance

IQVIA Forecasts 2024 Adjusted EBITDA Of $3.705B-$3.765B Versus Prior Guidance Of $3.7B-$3.8B

Manhattan Bridge Capital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOAN#NASDAQ">LOAN</a>) reported quarterly earnings of $0.12 per share which met the analyst consensus estimate. This is unchanged from the same period last year. The company reported quarterly sales of $2.443 million which beat the analyst consensus estimate of $1.446 million by 68.95 percent. This is a 1.83 percent increase over sales of $2.399 million the same period last year.

LOAN

Manhattan Bridge Capital Q2 2024 GAAP EPS $0.12, Inline, Sales $2.443M Beat $1.446M Estimate

IQVIA Forecasts 2024 Adjusted EPS Of $11.10-$11.30 Compared To Prior Guidance Of $10.95-$11.25 And Consensus Of $11.08

IQVIA Forecasts 2024 Revenues Of $15.425B-$15.525B Compared To Prior Guidance Of  $15.325B-$15.575B And Consensus Of $15.459B

Wedbush analyst Richard Anderson upgrades Stag Industrial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STAG#NYSE">STAG</a>) from Neutral to Outperform and raises the price target from $38 to $44.

STAG

Wedbush Upgrades Stag Industrial to Outperform, Raises Price Target to $44

Tilray Brands, Inc. (&quot;Tilray&quot;) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>, TSX:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#TSX">TLRY</a>), a global leader in cannabis research, cultivation, production, and distribution, today announced that its Germany cannabis cultivation facility, Aphria RX GmbH (&quot;Aphria RX&quot;), has received the first new cannabis cultivation license issued under MedCanG, Germany&#39;s new Cannabis Act. The new cannabis cultivation license allows Aphria RX to cultivate and manufacture a broad commercial range of medical cannabis, providing patients with better access to high-quality medical cannabis produced in Germany.

Government

Regulations

TLRY

TSX:TLRY

Tilray's Aphria RX Receives First Cannabis Cultivation License Under Germany's New Cannabis Act

Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) stock opened lower Monday premarket as U.S. President&nbsp;Joe Biden withdrew from the 2024 Presidential race.
On Sunday, Biden, 81, revealed his <a target="_blank" href="https://www.benzinga.com/news/24/07/39874154/bidens-exit-from-presidential-race-sparks-massive-reactions-from-first-lady-gavin-newsom-marjorie-ta" rel="noreferrer noopener">decision through a letter</a> on social media platform X after a lackluster debate performance and increasing pressure from fellow Democrats to step aside.
The broader artificial intelligence chip sector led by Taiwan Semiconductor, Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), and Advanced Micro Devices, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) noted a selloff last week after former President Donald Trump suggested that <a target="_blank" href="https://www.benzinga.com/government/24/07/39857131/ai-chip-stocks-nvidia-amd-taiwan-semi-saw-a-selloff-this-week-whats-going-on" rel="noreferrer noopener">Taiwan should compensate</a> the U.S. for its defense, highlighting the lack of a formal defense treaty.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/22051837/newplot-51.png" alt="" class="wp-image-448132" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/22051837/newplot-51.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/22051837/newplot-51-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Additionally, last week, reports indicated the U.S. intensified its advanced semiconductor sanctions against China, a significant market for Nvidia and its U.S. peers.
SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), representing the US S&amp;P500 index, lost 2.4% last week. iShares China Large-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXI#NYSE">FXI</a>), representing China, lost over 4%.
The AI chip stocks, including Nvidia and AMD, opened higher Monday premarket, reversing last week's losses.
Nvidia is <a target="_blank" href="https://www.benzinga.com/news/24/07/39877062/nvidia-reportedly-developing-a-new-version-of-its-flagship-ai-chip-for-chinese-market-amid-us-export" rel="noreferrer noopener">reportedly developing a</a> new AI chip tailored to meet US export restrictions for the Chinese market. Reports indicated Nvidia collaborating with Inspur, a key distribution partner in China, to introduce and distribute the new chip, tentatively named "B20," which is part of Nvidia's "Blackwell" series.
The chip stocks also got a boost from China, which lowered key interest rates. China is a key AI chip market. However, it faces several economic challenges, including weak growth <a target="_blank" href="https://www.benzinga.com/news/24/07/39768528/alibaba-chinese-tech-stocks-and-ev-stocks-nio-xpeng-li-auto-tumble-after-disappointing-economic-repo" rel="noreferrer noopener">in the second quarter</a> and looming deflation.
On Monday, the People's Bank of China (PBOC) <a target="_blank" href="https://www.benzinga.com/government/24/07/39878618/whats-going-on-with-alibaba-and-other-chinese-stocks-on-monday" rel="noreferrer noopener">announced that it</a> would cut the seven-day reverse repo rate to 1.7% from 1.8% and reduce the one-year loan prime rate (LPR) to 3.35% from 3.45%. Additionally, Reuters reports that China lowered the five-year LPR to 3.85% from 3.95%.
Price Actions: At the last check on Monday, NVDA was up 1.76% at $120 premarket. AMD was up 1.10% at $153.25. TSM was down 1.06% at $164.02.
Photo via Shutterstock

Media

NVDA

What's Going On With AI Chip Stocks Nvidia, AMD And Taiwan Semi On Monday?

KSPI

Kaspi.kz Q2 Sales KZT599B, Up 36% YoY, Net Income KZT243B, Up 25% YoY

That strategy is to optimize and grow Air Products&#39; core industrial gases business while advancing the energy transition through clean hydrogen.

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Global Blockchain Acquisition Corp. - Right

News

Latest news for Global Blockchain Acquisition Corp. - Right (NASDAQ:GBBKR) Stock