Latest news for Harbor Custom Dev (OTC:HCDIQ) Stock

Harbor Custom Development Inc is a real estate development company. The company's segment includes Homes; Developed lots; Entitled land; Multi-family; Fee Build and other. It generates maximum revenue from the Multi-family segment.

HARBOR CUSTOM DEV INC by Harbor Custom Development, Inc.

Harbor Custom Development Inc

As the COVID-19 pandemic faded away and people were less required to practice social distancing, <a href="https://www.benzinga.com/news/23/11/35994035/insta-worthy-workspaces-to-woo-back-remote-workers-social-media-users-tell-companies-to-please-just">bosses began demanding</a> that their employees return to the office (RTO) instead of performing their jobs at home.
This led to droves of workers who wanted to keep working from home to quit their jobs in what became known as the &#8220;Great Resignation,&#8221; but that&#8217;s what some bosses wanted them to do, <a href="https://www.bamboohr.com/resources/guides/return-to-office#executives-and-hr-admit-rto-is-meant-to-make-people-quit">according</a> to a survey by Bamboo HR.
The analysis revealed that 25% of vice presidents and executives and 18% of human resources professionals admit they hoped for &#8220;some voluntary turnover&#8221; during an RTO mandate, proving why they are actually &#8220;layoffs in disguise,&#8221; Bamboo HR said.
&#8220;Nearly two in five (37%) managers, directors and executives believe their organization enacted layoffs in the last year because fewer employees than they expected quit during their RTO,&#8221; the survey said.
Read Now: <a href="https://www.benzinga.com/news/23/09/35015655/why-metas-return-to-office-is-a-mess-from-sitting-on-floors-to-hot-desks-dilemma-and-pending-remote">Why Meta&#8217;s Return To Office Is A &#8216;Mess:&#8217; From Sitting On Floors To &#8216;Hot Desks&#8217; Dilemma, And Pending Remote Work Requests</a>
Whatever the intention ultimately is, some companies are instituting policies to bring employees back to the office.
Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>), a San Francisco-based software company, is now pushing to bring the majority of its employees back into the office, the San Francisco Standard <a href="https://sfstandard.com/2024/07/17/salesforce-pressures-its-workers-back-to-the-office-as-layoffs-continue/">reported</a>.
Certain workers in sales, workplace services, data center engineering and&nbsp;onsite support technicians&nbsp;under the chief information officer will need to show up to the office four to five days a week, starting in October.
Salesforce&#8217;s other departments will be required to show up to the office three days a week through an &#8220;office-flex&#8221; arrangement, while certain engineering roles will need to come in only at least 10 days each quarter.
Salesforce notified employees of the RTO policy through a memo that also said the company will start tracking when employees scan their badges next month.
Salesforce said employees will have "full visibility" of this data, which will measure attendance against quarterly goals set by each team. 
Read Now:
<ul>
<li><a href="https://www.benzinga.com/news/23/12/36106919/amazons-rigid-return-to-office-policy-triggers-employee-exodus-report">Amazon&#8217;s Rigid Return-To-Office Policy Triggers Employee Exodus: Report</a></li>
</ul>
Photo: Shutterstock

Bosses Admit Using 'Return To Office' Mandate To Get Workers To Quit: Survey

News

Guidance

Celestica Raises FY24 Revenue Outlook To $9.45B From Previous Outlook Of $9.1B (Est $9.126B); Adjusted EPS To $3.62 From Prior $3.30 (Est $3.33)

Celestica Expects Q3 Revenue Of $2.325B - $2.475B (Est $2.29B), Adjusted EPS Of $0.86 - $0.96 (Est $0.82)

Celestica (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLS#NYSE">CLS</a>) reported quarterly earnings of $0.91 per share which beat the analyst consensus estimate of $0.81 by 12.35 percent. This is a 65.45 percent increase over earnings of $0.55 per share from the same period last year. The company reported quarterly sales of $2.391 billion which beat the analyst consensus estimate of $2.249 billion by 6.31 percent. This is a 23.31 percent increase over sales of $1.939 billion the same period last year.

Earnings

Earnings Beats

Celestica Q2 2024 Adj EPS $0.91 Beats $0.81 Estimate, Sales $2.391B Beat $2.249B Estimate

Orion Gr Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORN#NYSE">ORN</a>) reported quarterly losses of $(0.16) per share which missed the analyst consensus estimate of $(0.01) by 1500 percent. This is a 14.29 percent decrease over losses of $(0.14) per share from the same period last year. The company reported quarterly sales of $192.167 million which missed the analyst consensus estimate of $192.786 million by 0.32 percent. This is a 5.28 percent increase over sales of $182.534 million the same period last year.

Earnings Misses

Orion Gr Hldgs Q2 2024 Adj EPS $(0.16) Misses $(0.01) Estimate, Sales $192.167M Miss $192.786M Estimate

Mid Penn Bancorp Q2 2024 Sales $44.095M Beat $41.910M Estimate

General Motors Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) shares are trading lower after-hours Wednesday following Ford Motor Co.'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) <a href="https://www.benzinga.com/news/earnings/24/07/39943178/ford-q2-earnings-highlights-revenue-beat-eps-miss-transit-vans-hit-record-ev-sales-fall-37">second-quarter earnings release.</a> 
The Details: Ford shares are dropping after the company reported quarterly earnings per share of 47 cents, missing a Street consensus estimate of 68 cents. Ford also reported a 37% drop in revenue from its Ford Model e segment year-over-year, which the company attributed to industry-wide pricing pressure and lower wholesales.
Read Next: <a href="https://www.benzinga.com/general/biotech/24/07/39944467/viking-therapeutics-stock-climbs-on-q2-eps-beat">Viking Therapeutics Stock Climbs On Q2 EPS Beat</a>&nbsp;
GM shares are down slightly in sympathy with Ford during after-hours trading. General Motors reported strong <a href="https://www.benzinga.com/markets/equities/24/07/39913791/whats-going-on-with-general-motors-stock-today">second-quarter results</a> on Tuesday, beating Street estimates with sales growth of 7.2% year-over-year. GM also reported quarterly earnings of $3.06 per share, beating the analyst consensus estimate of $2.72. 
GM, F Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, General Motors shares are down 0.73% after-hours at $46.15 and Ford shares are down 10.24% at $12.27 at the time of publication Wednesday.
Read Also:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39865576/whats-going-on-with-rivian-stock">What&#8217;s Going On With Rivian Stock?</a></li>
</ul>
Image: Shutterstock

After-Hours Center

Movers

General Motors Stock Falls After Ford Reports Q2 Results: What's Going On?

CB Financial Services (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBFV#NASDAQ">CBFV</a>) reported quarterly earnings of $0.52 per share which beat the analyst consensus estimate of $0.51 by 1.96 percent. This is a 5.45 percent decrease over earnings of $0.55 per share from the same period last year. The company reported quarterly sales of $12.158 million which missed the analyst consensus estimate of $12.300 million by 1.15 percent. This is a 9.19 percent decrease over sales of $13.389 million the same period last year.

CBFV

CB Financial Services Q2 2024 Adj EPS $0.52 Beats $0.51 Estimate, Sales $12.158M Miss $12.300M Estimate

The aggregate incremental backlog associated with these fixtures is approximately&nbsp;$656 million. As of July 24, 2024, the company&#39;s total backlog is approximately&nbsp;$8.8 billion.

Transocean Releases Quarterly Fleet Status Report; Reports Total Backlog Of $8.8B As Of July 24

NRG Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>) has outperformed the market over the past 5 years by 3.9% on an annualized basis producing an average annual return of 16.37%. Currently, NRG Energy has a market capitalization of $15.47 billion. 
Buying $100 In NRG: If an investor had bought $100 of NRG stock 5 years ago, it would be worth $215.11 today based on a price of $74.19 for NRG at the time of writing.
<h3>NRG Energy's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721856619_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

Here's How Much You Would Have Made Owning NRG Energy Stock In The Last 5 Years

ESRT

Empire State Realty Trust Reaffirms 2024 Core FFO Guidance Of Core $0.90 - $0.94, Est $0.92

Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) shares are rising in Wednesday&#8217;s after-hours session after the National Basketball Association (NBA) announced a deal in which Prime Video will telecast <a href="https://www.benzinga.com/m-a/24/07/39900318/warner-bros-discoverys-tnt-sports-counters-amazon-with-1-9b-nba-broadcast-rights-bid-report">NBA games over the next decade</a>.
What Happened: The NBA <a href="https://www.nba.com/news/nba-media-agreements-2024">announced</a> a renewal of its partnership with Walt Disney Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>), as well as new agreements with NBCUniversal and Amazon under which ABC/ESPN, NBC/Peacock and Prime Video will telecast NBA games beginning with the 2025-26 season. The deal is set to remain in place through the 2035-36 season.
&#8220;Our new global media agreements with Disney, NBCUniversal and Amazon will maximize the reach and accessibility of NBA games for fans in the United States and around the world," said NBA Commissioner Adam Silver.&nbsp; 
"These partners will distribute our content across a wide range of platforms and help transform the fan experience over the next decade."
Check This Out: <a href="https://www.benzinga.com/general/entertainment/24/07/39915544/could-warner-bros-vs-amazon-battle-be-brewing-for-nba-rights-mark-cuban-shares-his-suggesti">Could Warner Bros. Vs. Amazon Battle Be Brewing For NBA Rights? Mark Cuban Shares His Suggestion</a>
Under the new deal, Amazon will distribute 66 NBA regular-season games on Prime Video each season. &nbsp;In addition, Prime Video is now set to stream the Championship Game of the Emirates NBA Cup.
Amazon&#8217;s Prime Video will also distribute all six NBA Play-In Tournament games and stream approximately one-third of the first and second rounds of the playoffs each year. Prime Video will also stream one of the two Conference Finals series in six of the 11 years on a rotating basis with NBCUniversal.
Amazon plans to distribute NBA games globally as part of Prime Video and offer an expanded package of games in select territories. The expanded package includes a minimum of 20 additional primetime regular season games each year, a Conference Finals series each year and the NBA Finals&nbsp;in six of the 11 years.
The NBA also announced that Amazon&#8217;s Prime Video will become a strategic partner of the NBA, making it the third-party global destination of NBA League Pass. 
AMZN Price Action: Amazon shares were up 0.42% after hours at $181.59 at the time of publication Wednesday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Shaheerrr from Shutterstock.

Sports

Global

Media

General

AMZN

Amazon Stock Jumps As NBA Signs Prime Video Broadcasting Deal: What You Need To Know

Mid Penn Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MPB#NASDAQ">MPB</a>) reported quarterly earnings of $0.68 per share which beat the analyst consensus estimate of $0.60 by 13.33 percent. This is unchanged from the same period last year.

Mid Penn Bancorp Q2 2024 Adj EPS $0.68 Beats $0.60 Estimate

Core Laboratories Expects Q3 Revenue Of $131M - $137M (Est $135.11M), EPS Of $0.23 - $0.27 (Est $0.25)

QuantumScape Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QS#NYSE">QS</a>) reported its second-quarter financial results Wednesday. Here's a <a href="https://www.benzinga.com/pressreleases/24/07/b39942492/quantumscape-reports-second-quarter-2024-business-and-financial-results">look at the details: </a>
The Details: QuantumScape reported GAAP quarterly losses of 25 cents per share which missed the analyst consensus estimate of losses of 23 cents by 8.7%.
The company reported capital expenditures in the second quarter were $18.9 million and primarily supported equipment purchases for low-volume QSE-5 prototype production, as well as the Cobra process and other equipment as the company prepares for higher-volume QSE-5 prototype production in 2025. 
QuantumScape ended the second quarter with $938 million in liquidity.
The company said its recent licensing deal with PowerCo offers a capital-efficient path to market and now projects its cash runway to extend into 2028. 
The extension of its cash runway forecast is mainly attributable to the avoidance of planned spend on its joint venture which frees up $134 million previously earmarked for our investment into the JV, prepayment of royalties contingent on satisfactory technical progress, inflows of development resources from our collaboration partner and improvements to capital and operational efficiency with respect to existing operations. 
Outlook: QuantumScape maintained its full-year 2024 guidance for Adjusted EBITDA loss to be between $250 million and $300 million and expects to be on the lower end of its capital expenditure guidance range of $70 million to $120 million.
Read Also: <a href="https://www.benzinga.com/24/07/39940684/whats-going-on-with-meta-stock">What&#8217;s Going On With Meta Stock?</a>
QS Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, QuantumScape shares are down 5.09% after-hours at $7.08 after falling 7.2% during regular trading Wednesday.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39939280/whats-going-on-with-riot-platforms-stock">What&#8217;s Going On With Riot Platforms Stock?</a></li>
</ul>
Image: Courtesy of QuantumScape Corporation

QuantumScape Stock Falls On Q2 Results: Here's Why

Core Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLB#NYSE">CLB</a>) reported quarterly earnings of $0.22 per share which beat the analyst consensus estimate of $0.21 by 4.76 percent. This is a 4.76 percent increase over earnings of $0.21 per share from the same period last year. The company reported quarterly sales of $130.577 million which missed the analyst consensus estimate of $132.170 million by 1.21 percent. This is a 2.11 percent increase over sales of $127.881 million the same period last year.

Core Laboratories Q2 2024 Adj EPS $0.22 Beats $0.21 Estimate, Sales $130.577M Miss $132.170M Estimate

Align Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALGN#NASDAQ">ALGN</a>) shares are trading lower in Wednesday&#8217;s after-hours session after the company reported second-quarter financial results and <a href="https://www.benzinga.com/pressreleases/24/07/b39942047/align-technology-announces-second-quarter-2024-financial-results">issued soft guidance</a>.
<ul>
<li>Q2 Revenue: $1.03 billion, versus <a href="https://www.benzinga.com/calendars/earnings">estimates</a> of $1.04 billion</li>
</ul>
<ul>
<li>Q2 EPS: $2.41, versus estimates of $2.30</li>
</ul>
Total revenue was up 2.6% on a year-over-year basis after being unfavorably impacted by foreign exchange of approximately&nbsp;$11.6 million&nbsp;or&nbsp;1.1%. 
Align, which sells the well-known Invisalign clear aligner system, said clear aligner revenues were down 0.1% year-over-year to $831.7 million in the quarter. Imaging systems and CAD/CAM services revenue totaled $196.8 million, up 16.1% on a year-over-year basis.
&#8220;In Q2, the number of doctors submitting teen or younger patient case starts was up 8% year-over-year, led by continued strength from doctors treating young kids also known as &#8216;growing patients.&#8217; Our Q2 results also reflect a record number of doctors submitting cases, and record doctors shipped to for the quarter,&#8221; said Joe Hogan, president and CEO of Align.
As of June 30, the company had $782.1 million in cash, cash equivalents and marketable securities, as well as $300 million&nbsp;available under a revolving line of credit.
See Also: <a href="https://www.benzinga.com/news/earnings/24/07/39943178/ford-q2-earnings-highlights-revenue-beat-eps-miss-transit-vans-hit-record-ev-sales-fall-37">Ford Q2 Earnings Highlights: Revenue Beat, EPS Miss, Transit Vans Hit Record, EV Sales Fall 37%</a>
Guidance: Align sees third-quarter revenue in the range of $980 million to $1 billion versus estimates of $1.03 billion, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>. Align anticipates full-year 2024 revenue growth of 4% to 6%.
The company noted it expects clear aligner volume to be down in the third quarter due to seasonality trends. Align also expects systems and services revenue to be down sequentially because of third-quarter seasonality.
ALGN Price Action: Align shares were down 4.20% after hours at $234.51 at the time of publication Wednesday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Courtesy of Align.

Health Care

ALGN

Align Technology Stock Drops On Q2 Earnings: What Investors Need To Know

Editor&#8217;s note: This story has been updated to make clearer and add more details around the rebranding of Dama Financial&#8217;s remaining assets as GrowFlow. 
LeafLink, a major U.S. cannabis wholesale platform, announced its acquisition Wednesday of Dama Financial's <a href="https://www.benzinga.com/topic/cannabis-banking">banking division</a> in a move aimed to address a major challenge faced by cannabis operators: the lack of access to secure and compliant financial services.
LeafLink&#8217;s platform provides various services for cannabis brands and retailers, including tools for order and category management, payments, data analytics and advertising.
Due to its strong performance, LeafLink recently increased its Series D fundraising round from $100 million to $125 million. Investors in this round include CPMG, Nosara, L2 Ventures, Thrive Capital and Tiger Global.
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/05/39014160/boosting-cannabis-retail-growth-with-data-leaflink-and-casa-unite-to-deliver-profit-driving-anal">Boosting Cannabis Retail Growth With Data: LeafLink And CASA Unite To Deliver Profit-Driving Analytics</a>
<h2 class="wp-block-heading">A Step Toward Integrated Financial Solutions</h2>
"LeafLink provides customers with integrated tech solutions that make it easier to run their businesses," said Artie Minson, CEO of LeafLink. 
"Over the last year, we&#8217;ve released several products that will significantly improve our customers' operating performance and profitability. After witnessing firsthand the negative impact the federal prohibition has had on operators' access to traditional banks, we are thrilled to add banking to LeafLink's product suite.&#8221;
Patrick O&#8217;Boyle, the former CEO of Dama Financial, is now the CEO of GrowFlow, which owns the Dama Financial assets not acquired by LeafLink.
"The cannabis industry is in need of integrated solutions at scale and this deal is a great example of the benefits it will bring to our industry. LeafLink is in a strong position to take our established banking solution and build on it even further, offering the industry a unified financial services experience,&#8221; O´Boyle said.
&#8220;The product lines not included in this acquisition will rebrand to GrowFlow, remaining focused on enhancing and growing our retail and wholesale product lines to service the cannabis industry."
<h2 class="wp-block-heading">Federal Prohibition: No Banking For The Cannabis Industry</h2>
Fed prohibition has limited cannabis operators' access to traditional banking services, often leaving them with minimal features, cumbersome processes and high operating costs. Credit unions and small state-chartered banks, which service the remainder of the industry, face similar limitations.
Dama Financial, with over $3 billion in processed transactions, serves more than half of the cannabis-legal states in the U.S. It has worked closely with leading U.S. sponsor banks to develop financial solutions for cash-intensive industries, particularly cannabis. 
Furthermore, Dama Financial's offerings include checking accounts, payment processing, cash pickup services, and on-site smart safes, while ensuring compliance with current banking and cannabis regulations.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/06/39230436/gop-congress-member-aims-wants-to-remove-cannabis-banking-protections-from-spending-bill-calls-f">GOP Congress Member Wants To Remove Cannabis Banking Protections From Spending Bill, Calls For Prohibition To Continue</a></li>
</ul>
Photo via Shutterstock.

Cannabis

Markets

LeafLink Acquires Dama Financial's Banking Division To Address Cannabis Industry's Financial Challenges (UPDATED)

Management

Ford CEO Said We Believe Smaller, Affordable EVs Are The Way To Go -Conf Call

Live Oak Bancshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOB#NYSE">LOB</a>) reported quarterly earnings of $0.59 per share which beat the analyst consensus estimate of $0.48 by 22.92 percent. This is a 51.28 percent increase over earnings of $0.39 per share from the same period last year. The company reported quarterly sales of $125.479 million which beat the analyst consensus estimate of $120.120 million by 4.46 percent. This is a 15.69 percent increase over sales of $108.458 million the same period last year.

Live Oak Bancshares Q2 2024 GAAP EPS $0.59 Beats $0.48 Estimate, Sales $125.479M Beat $120.120M Estimate

Real estate stocks gain but underperform S&P 500, expected rate cuts to help in 2024

Harbor Custom Development (HCDIQ) has released an update. Harbor Custom Development, Inc. and its subsidiaries have filed for Chapter 11 bankruptcy...

Harbor Custom Development Seeks Chapter 11 Reorganization

Harbor Custom Development to wind down its operations

Harbor Custom Development (HCDIQ) has released an update. Amid its Chapter 11 bankruptcy proceedings, a company's securities have been suspended by...

Harbor Custom Development Navigates Bankruptcy and Asset Liquidation

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Press Releases

Harbor Custom Development, Inc., Announces Intentions to Liquidate via Chater 11 Plan

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Harbor Custom Dev

News

Latest news for Harbor Custom Dev (OTC:HCDIQ) Stock