International Media Acquisition Corp. - Rights Stock (NASDAQ: IMAQR)

Latest news for International Media Acquisition Corp. - Rights (NASDAQ:IMAQR) Stock

International Media Acquisition Corp. - Rights

Jefferies analyst Tycho Peterson upgrades 10x Genomics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXG#NASDAQ">TXG</a>) from Hold to Buy and maintains the price target from $24 to $24.

News

Upgrades

Price Target

Analyst Ratings

Jefferies Upgrades 10x Genomics to Buy, Maintains Price Target to $24

HC Wainwright &amp; Co. analyst Arthur He reiterates Adagene (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADAG#NASDAQ">ADAG</a>) with a Buy and maintains $5 price target.

Reiteration

ADAG

HC Wainwright & Co. Reiterates Buy on Adagene, Maintains $5 Price Target

The Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) disclosed that it forecasts a 3% increase in airplane deliveries over the next 20 years, estimating a need for nearly 44,000 <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/n39869384/boeing-forecasts-demand-for-nearly-44-000-new-airplanes-through-2043-as-air-travel-surpasses-pre-p" rel="noreferrer noopener">new commercial airplanes by 2043</a>.
The global commercial fleet is expected to grow at an annual rate of 3.2%, slower than air traffic growth, as airlines enhance productivity by raising load factors and utilizing <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">airplanes for more hours each day</a>.
Boeing expects that emerging markets and global single-aisle market demand will be the main growth drivers for the industry.
By geographies, Boeing projects South Asia&#8217;s passenger traffic to grow by 7.4%, followed by Southeast Asia at 7.2% and Africa at 6.4%. Also, Eurasia will lead airplane deliveries with 22%, while North America and China will each account for 20%.
By 2043, single-aisle airplanes will comprise 71% of the fleet with 33,380 new deliveries, mainly for short- to medium-haul routes.
Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/39818420/boeings-737-max-crisis-ripple-effects-disrupt-airlines-suppliers" rel="noreferrer noopener">Boeing&#8217;s 737 MAX Crisis Ripple Effects Disrupt Airlines, Suppliers</a>
The 2024 Commercial Market&nbsp;Outlook (CMO) forecasts that passenger air traffic will increase by an average of 4.7% annually over the next two decades compared to 2023.
Dan Abraham, senior vice president of Boeing Global Services Commercial Sales and Marketing, commented, &#8220;As airlines respond to robust passenger demand, the services market continues to expand, not only as a result of fleet growth, but also with an increased focus on reducing operating costs and deploying efficient and sustainable solutions.&#8221;&nbsp;
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39788122/judge-allots-time-for-boeing-737-max-crash-victims-relatives-to-object-plea-deal-report" rel="noreferrer noopener">Judge Allots Time For Boeing 737 MAX Crash Victims&#8217; Relatives To Object Plea Deal: Report</a>
Boeing forecasts a $4.4 trillion demand for commercial services, fueled by maintenance, modifications, and digital solutions that enhance efficiency.
Today, Woodward, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>) has been chosen to supply rotary actuation solutions for NASA and Boeing&#8217;s Transonic Truss-braced Wing (TTBW) <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/g39876628/boeing-selects-woodward-to-design-innovative-rotary-actuator-for-the-nasa-sustainable-flight-demon" rel="noreferrer noopener">X-66A aircraft demonstrator</a>.
Last week, Boeing faced yet another challenge as Washington state factory workers voted overwhelmingly in favor of a strike mandate, amid the workers&#8217; demand for a 40% raise during their first <a target="_blank" href="https://www.benzinga.com/news/24/07/39836988/boeing-workers-vote-for-strike-mandate" rel="noreferrer noopener">full&nbsp;negotiation with Boeing&nbsp;in 16 years</a>.
Boeing stock has lost more than 16% in the last 12 months.&nbsp;Investors can gain exposure to the stock via&nbsp;IShares U.S.&nbsp;Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>) and&nbsp;Invesco Aerospace&nbsp;&amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPA#NYSE">PPA</a>).
Price Action: BA shares are up 0.46% at $180.50 premarket at the last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Tada Images On Shutterstock.com
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/07/39810693/boeing-delivers-critical-core-stage-for-nasas-lunar-mission-details" target="_blank" rel="noreferrer noopener">Boeing Delivers Critical Core Stage for NASA&#8217;s Lunar Mission: Details</a></li>
</ul>

Equities

Large Cap

Guidance

iShares Dow Jones US Aerospace & Defense Index Fund

Boeing's Commercial Market Outlook Predicts Soaring Demand: 44,000 New Airplanes Needed By 2043

On July 19, 2024, Allarity Therapeutics, Inc. (the &ldquo;Company&rdquo;) received a &ldquo;Wells Notice&rdquo; from the Staff of the U.S. Securities and Exchange Commission (the &ldquo;SEC&rdquo;) relating to the Company&rsquo;s previously disclosed SEC investigation. The Wells Notice relates to the Company&rsquo;s disclosures regarding meetings with the United States Food and Drug Administration (the &ldquo;FDA&rdquo;) regarding the Company&rsquo;s NDA for Dovitinib or Dovitinib-DRP, which was submitted to the FDA in 2021. The Company understands that all conduct relating to the SEC Wells Notice occurred during or prior to fiscal year 2022. Allarity also understands that three of its former officers received Wells Notices from the SEC relating to the same conduct. A Wells Notice is neither a formal charge of wrongdoing nor a final determination that the recipient has violated any law. The Wells Notice informed the Company that the SEC Staff has made a preliminary determination to recommend that the SEC file an enforcement action against the Company that would allege certain violations of the federal securities laws. The Company is continuing to cooperate with the SEC and maintains that its actions were appropriate, and intends to pursue the Wells Notice process, including submitting a formal response to the SEC.

Government

Regulations

ALLR

SEC Issues Wells Notice to Allarity Therapeutics and Former Officers Over 2021 FDA NDA Submission

Morgan Stanley analyst Ravi Shanker maintains Alaska Air Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>) with a Overweight and lowers the price target from $75 to $70.

Morgan Stanley Maintains Overweight on Alaska Air Gr, Lowers Price Target to $70

Telsey Advisory Group analyst Sarang Vora maintains Coursera (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COUR#NYSE">COUR</a>) with a Outperform and maintains $18 price target.

COUR

Telsey Advisory Group Maintains Outperform on Coursera, Maintains $18 Price Target

Morgan Stanley analyst Kristine Liwag maintains Hexcel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HXL#NYSE">HXL</a>) with a Underweight and lowers the price target from $63 to $61.

Morgan Stanley Maintains Underweight on Hexcel, Lowers Price Target to $61

Needham analyst Mayank Tandon reiterates Euronet Worldwide (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EEFT#NASDAQ">EEFT</a>) with a Buy and maintains $125 price target.

EEFT

Needham Reiterates Buy on Euronet Worldwide, Maintains $125 Price Target

Evercore ISI Group analyst Mark Mahaney initiates coverage on Webtoon Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBTN#NASDAQ">WBTN</a>) with a Outperform rating and announces Price Target of $30.

Initiation

WBTN

Evercore ISI Group Initiates Coverage On Webtoon Entertainment with Outperform Rating, Announces Price Target of $30

The deal includes 20 777-9s and 20 787-10s with options for 10 more of the largest 787 Dreamliner variant.
When finalized and posted to Boeing&#39;s Orders &amp; Deliveries website, Korean Air will be the latest customer to purchase the world&#39;s largest and most fuel-efficient twin engine jet.

Contracts

Boeing Reveals Korean Air's Intent To Purchase Up To 50 Widebody Airplanes; No Terms Disclosed

China has made a surprising move to stimulate its economy by lowering key interest rates. The decision comes as the country 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>, looming deflation, and a prolonged property crisis.
Chinese stocks, including Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), PDD Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>), JD.Com, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>), Baidu, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>), Bilibili Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BILI#NASDAQ">BILI</a>) are trading higher Monday.
Also Read: <a target="_blank" href="https://www.benzinga.com/government/24/07/39810709/whats-going-on-with-alibaba-and-peer-chinese-stocks-on-wednesday" rel="noreferrer noopener">Alibaba and Peers Face Challenges as U.S. Tightens Semiconductor Export Rules</a>
<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/2024/07/22042007/newplot-50.png" alt="" class="wp-image-448053" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/22042007/newplot-50.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/22042007/newplot-50-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
On Monday, the People&#8217;s Bank of China (PBOC) announced that it 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, China lowered the five-year LPR to 3.85% from 3.95%. These measures aim to boost economic activity and achieve the growth targets set during the recent plenum, Reuters reports.
The PBOC has also adjusted its lending programs. Starting in July, it will lower the collateral requirements for its medium-term lending facility loans.
Now, banks will need to hold fewer long-term bonds, enabling them to trade more freely and supporting the central bank&#8217;s efforts to stabilize long-term yields and prevent a bond bubble.
Following the rate cuts, Chinese sovereign bond yields fell, with 10-year and 30-year yields dropping by up to 3 basis points before stabilizing. China&#8217;s 30-year treasury futures for September 2024 delivery rose by approximately 0.3% in early trade on Monday.
<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">Separate reports indicated</a> that Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is developing a new AI chip tailored to meet U.S. export restrictions for China, which will boost stocks like Alibaba and Baidu, which are keen on pursuing their AI ambitions.
Alibaba stock lost 22% in the last 12 months as it battles macro and micro headwinds including cancellation of IPOs of its logistics and cloud business and intense domestic e-commerce rivalry from PDD. Baidu lost over 39% as its AI models strive to gain traction. JD.Com&nbsp;lost 32% and Bilibili in the last 12 months. PDD gained 69%.
Price Action:&nbsp;BABA shares are trading higher by 1.66% to $76.52 in the premarket session at the last check on Monday.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/39857256/whats-going-on-with-alibaba-stock-on-friday" rel="noreferrer noopener">Alibaba Faces Setbacks with AI Expert Departure Amidst Regulatory Pressures</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Eric Prouzet on Unsplash

Emerging Markets

Media

BABA

BIDU

BILI

NVDA

Citigourp Global Markets 2% Protected Notes Linked To The Djia

What's Going On With Alibaba And Other Chinese Stocks On Monday?

HC Wainwright &amp; Co. analyst Raghuram Selvaraju reiterates Aclaris Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACRS#NASDAQ">ACRS</a>) with a Neutral.

ACRS

HC Wainwright & Co. Reiterates Neutral on Aclaris Therapeutics

The transaction represents the next step in the Company&#39;s transformation to become a premier independent supplier of paperboard to North American converters and the conclusion of its previously announced review of strategic options for the tissue business.
The Company expects net proceeds from the transaction of approximately&nbsp;$850 million, which it intends to use to meaningfully delever its balance sheet and invest in growth initiatives for its continuing operations.
The transaction is expected to close in the latter part of 2024, subject to customary closing conditions.

Asset Sales

Clearwater Paper Enters Definitive Deal To Sell Its Tissue Business To Sofidel America For $1.06B

Tech

Reuters Reported  Nvidia Working On Version Of Its New Flagship AI Chips For The China Market, Compatible With U.S. Export Controls

The four-acre property, now&nbsp;U-Haul Moving &amp; Storage at Lake Lanier, was acquired July 10. It is conveniently located just steps from the man-made lake. The facility features 307 drive up self-storage units as well as U-Haul truck and trailer sharing, towing equipment and moving supplies.

UHAL

U-Haul Acquires Former Lazy Day Storage Facility At 6619 Lanier Islands Parkway In Buford; No Terms Disclosed

HC Wainwright &amp; Co. analyst Raghuram Selvaraju reiterates Hoth Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOTH#NASDAQ">HOTH</a>) with a Buy and maintains $4 price target.

HOTH

HC Wainwright & Co. Reiterates Buy on Hoth Therapeutics, Maintains $4 Price Target

Morgan Stanley analyst Matthew Cost initiates coverage on Webtoon Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBTN#NASDAQ">WBTN</a>) with a Equal-Weight rating and announces Price Target of $23.

Morgan Stanley Initiates Coverage On Webtoon Entertainment with Equal-Weight Rating, Announces Price Target of $23

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) and other leading Taiwanese stocks have taken a hit in the U.S. pre-market following the announcement of U.S. President Joe Biden&#8217;s withdrawal from the presidential race. 
What Happened: TSMC&#8217;s shares dropped 1.25% in the U.S. pre-market on Monday after a more than 3% fall in Taipei.
Other Taiwanese stocks, including United Microelectronics Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMC#NYSE">UMC</a>) and ASE Technology Holding Co., Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASX#NYSE">ASX</a>), also experienced a dip in the US pre-market by 1.28% and 0.73% respectively. Foxconn, a significant Nvidia AI server maker, saw its stock price plunge nearly 6% in Taiwan.
The Taiex index, which had seen a nearly 28% rise this year as of July 19, plummeted almost 700 points, or 3.04%, at one point on Monday.
See Also: <a href="https://www.benzinga.com/markets/equities/24/07/39870083/black-swan-investor-says-greatest-bubble-in-human-history-is-on-the-verge-of-bursting-calls-stoc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Black-Swan Investor Says &#8216;Greatest Bubble In Human History&#8217; Is On The Verge Of Bursting, Calls Stocks &#8216;Mega-Tinderbox-Time Bomb&#8217;</a>
Why It Matters: Taiwan&#8217;s Foreign Minister Lin Chia-lung had previously asserted that <a href="https://www.benzinga.com/news/24/07/39871991/taiwan-asserts-self-reliance-in-wake-of-trumps-criticism-we-must-be-prepared-to-face-a-possible-chin">Taiwan must depend on itself</a> for defense and is expected to further boost spending and modernize its military in response to the threat posed by China.
Last week, TSMC shares were also trading following Trump&#8217;s suggestion that Taiwan should compensate the United States for its defense, raising concerns about the impact on Taiwan&#8217;s chip industry and the country&#8217;s stock market. Reports of Biden contemplating stricter trade restrictions with China further<a href="https://www.benzinga.com/markets/equities/24/07/39829923/trumps-taiwan-talk-bidens-trade-restriction-plans-trigger-nvidia-amd-and-other-semiconductor-sel"> jolted the rest</a> of the semiconductor.
Read Next: 
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<li><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></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Shutterstock

Pre-Market Outlook

Markets

General

Nvidia, Apple Supplier TSMC And Other US-Listed Taiwan Stocks Trading Lower In Pre-Market After Biden Quits Presidential Race

The solution features silicon carbide-based technologies in an integrated module that can scale across all power levels &ndash; from high power to low power traction inverters to be compatible for all vehicle categories.
Volkswagen Group will also benefit from onsemi&#39;s planned investment to expand its silicon carbide manufacturing in the Czech Republic.&nbsp;

VWAGY

Onsemi Inks Multi-year Deal With Volkswagen To Supply Solution For Vehicle Lineup Across Several Brands

Reaffirms&nbsp;Outlook&nbsp;for Fiscal Year 2025
The Company reaffirms its&nbsp;guidance&nbsp;for Fiscal Year 2025 for Vista Outdoor, as well as The Kinetic Group and Revelyst. The Company expects the following results for Fiscal Year 2025, among other&nbsp;guidance&nbsp;previously disclosed:
<ul>
<li>Sales in the range of&nbsp;$2.665 billion&nbsp;to&nbsp;$2.775 billion
<ul>
<li>The Kinetic Group Sales expected to be approximately&nbsp;$1.425 billion&nbsp;to&nbsp;$1.475 billion</li>
<li>Revelyst Sales expected to be approximately&nbsp;$1.240 billion&nbsp;to&nbsp;$1.300 billion</li>
</ul>
</li>
<li>Adjusted EBITDA in the range of&nbsp;$410 million&nbsp;to&nbsp;$490 million1
<ul>
<li>The Kinetic Group adjusted EBITDA expected to be approximately&nbsp;$350 million&nbsp;to&nbsp;$400 million</li>
<li>Revelyst adjusted EBITDA expected to be approximately&nbsp;$130 million&nbsp;to&nbsp;$160 million</li>
</ul>
</li>
</ul>
Vista Outdoor expects that Revelyst will pursue a 12-month&nbsp;$50 million&nbsp;share repurchase program following the closing of the CSG Transaction, subject to approval by the Revelyst Board of Directors.
Preliminary&nbsp;Q1&nbsp;2025 Financial Results
Revelyst Results
<ul>
<li>Sales are expected to decrease to a range of&nbsp;$272 million&nbsp;to&nbsp;$276 million. The decline relative to FY2024&nbsp;Q1&nbsp;was primarily driven by&nbsp;$13 million&nbsp;of orders expected in&nbsp;Q1&nbsp;shifting to&nbsp;Q2&nbsp;due to challenges related to shipping filled orders at the end of the quarter and delayed new product introductions to&nbsp;Q2, strong new product launches at Bushnell Golf in the prior year period, the divestiture of the RCBS brand, year over year pre-order delivery timing delays at Revelyst Adventure Sports and the February 2024 fire at Fiber Energy&#39;s main production facility that temporarily shuttered operations, partially offset by another quarter of growth at Foresight from the strong launch of the QuadMAX and Foresight Falcon product offerings, the launch of the Gridiron line of flat top griddles at Camp Chef, and an increase in government sales as we increase our focus on our support of our freedom fighters both domestically and internationally.</li>
<li>Operating income2&nbsp;is expected to be in the range of&nbsp;($2.5)&nbsp;million to&nbsp;($0.5)&nbsp;million.</li>
<li>Adjusted EBITDA is expected to be in the range of&nbsp;$14.5 million&nbsp;to&nbsp;$16.5 million. The decrease relative to FY2024&nbsp;Q1&nbsp;was primarily driven by lower volume due to the factors described in the sales discussion above partially offset by&nbsp;$5 million&nbsp;in realized cost savings from the GEAR Up transformation program, reduced ocean freight rates at Revelyst Adventure Sports and component cost savings at Revelyst Precision Sports Technology.</li>
</ul>

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International Media Acquisition Corp. - Rights

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Latest news for International Media Acquisition Corp. - Rights (NASDAQ:IMAQR) Stock