Latest news for Itoco (OTC:ITMC) Stock

Itoco Inc is focused on developing and bringing biotech products to the market via co-development and joint venture arrangements with various companies. The company is currently examining various technologies that seek to control and/or identify bio-contaminants such as viruses and bacteria.

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Johnson & Johnson Forecasts 2024 Adjusted EPS Guidance Of $9.97–$10.07 Compared To Prior Guidance Of $10.57–$10.72 And Consensus Of $10.01

American homes are getting smaller in an era of soaring home prices and stubborn mortgage rates. And in the downsizing trend, one familiar feature is rapidly disappearing — the hallway. 
According to a report issued by Realtor.com, the median size of newly constructed single-family homes has shrunk to 2,140 square feet in the first quarter of this year, down 116 square feet from the previous year. The shift departs from the "McMansion" era that dominated pre-pandemic housing trends.
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<li>Will the surge continue or decline on real estate prices?<a href="https://www.benzinga.com/money/realbricks"> People are finding out about risk-free real estate investing that lets you cash out whenever you want.</a></li>
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"The median price of homes for sale this June remained stable compared with last year, at $445,000," said Ralph McLaughlin, senior economist at Realtor.com. "However, the median price per square foot grew by 3.4%, indicating that the inventory of smaller and more affordable homes has grown in share." 
The report said the <a href="https://www.benzinga.com/real-estate/24/07/39575355/shrinking-dreams-new-homes-hitting-the-market-at-smallest-size-in-15-years">trend toward smaller homes</a> is more pronounced in the South, where the inventory of houses priced between $200,000 and $350,000 surged by 50% compared to last year. This shift is reshaping the size of homes by way of their layout. 
Architectural designers surveyed by Realtor.com predict that hallways will become increasingly rare in new home designs. "Circulation space like hallways use square footage while typically not providing any function," Jenni Nichols, vice president of design for John Burns Research and Consulting, was quoted in the report. "They become one of the features that are easy to cut back on." 
The disappearance of hallways is just one way designers maximize living space in smaller footprints. Other space-saving features gaining popularity include eat-in kitchens, pocket offices, and Jack-and-Jill bathrooms.
Trending: This city is the clear winner of Zillow's 2024 Home Value Forecast —<a href="https://www.benzinga.com/money/winner-zillow-2024-home-value-forecast"> No surprise as the number of millionaires there grew by 75% in the last decade.</a>
For many buyers, the trend toward smaller homes has a silver lining: <a href="https://www.benzinga.com/real-estate/24/07/39646579/buyers-market-is-emerging-as-homes-sell-below-list-price-for-first-time-since-pandemic">lower costs</a>. Jason Gelios, a real estate agent with Community Choice Realty in Southeast Michigan, noted, "In the new-home build market, builders are striving to meet the demand of smaller-square-footage homes." The shift is making homeownership more attainable for some buyers, particularly as mortgage rates remain high. 
However, the transition to smaller homes isn&#8217;t without its challenges. Some buyers, accustomed to more spacious layouts, may find the new designs claustrophobic. And for families with children or those who work from home, the loss of private corridors could mean decreased privacy and quiet spaces. 
Despite the potential drawbacks, industry experts expect the trend to continue. The U.S. Residential Architecture and Design survey found that 43% of production residential designers worked on smaller projects last year compared to the previous year, with 27% reducing project sizes specifically to save on costs. 
As American homes continue to shrink, the way we live and use our spaces is evolving. The hallway may be fading into architectural history, but in its place, a new era of creative, efficient home design is emerging.&nbsp;
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Real Estate

Homes Are Shrinking Fast, With Hallways Being The First To Go

Johnson & Johnson Raises 2024 Operational Sales View To $89.2B-$89.6B Vs. Prior Guidance Of $88.7B-$89.1B, Reaffirms 2024 Reported Sales Guidance Of $88B-$88.4B Versus Consensus of $88.74B

WIIM

Johnson & Johnson shares are trading higher following a Q2 earnings beat.

YGMZ

MingZhu Logistics Regains Compliance With Nasdaq Listing Rule, Cures The Bid Price Deficiency

Evercore ISI Group analyst Michael Montani downgrades Five Below (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>) from Outperform to In-Line and lowers the price target from $160 to $113.

Downgrades

Price Target

Analyst Ratings

FIVE

Evercore ISI Group Downgrades Five Below to In-Line, Lowers Price Target to $113

J.B. Hunt Transport Services, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBHT#NASDAQ">JBHT</a>) shares are trading lower after the company reported&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b39803406/j-b-hunt-transport-services-inc-reports-u-s-gaap-revenues-net-earnings-and-earnings-per-share-for-" rel="noreferrer noopener">second-quarter&nbsp;2024 results</a>.
Operating revenue fell&nbsp;7%&nbsp;Y/Y to&nbsp;$2.93 billion, missing the consensus of&nbsp;$3.05 billion.
Revenue declined mainly due to a 5% drop in gross revenue per load in Intermodal (JBI), coupled with decreased load volumes: 25% in Integrated Capacity Solutions (ICS), 9% in Truckload (JBT), and 9% in Dedicated Contract Services (DCS).
Meanwhile, the Final Mile Services (FMS) segment saw a 5% revenue growth, driven by new contracts implemented over the past year, alongside a 5% increase in revenue per load in ICS.
Total operating revenue, excluding fuel surcharge revenue, decreased by around&nbsp;6%&nbsp;Y/Y in the quarter.
Operating income decreased 24% Y/Y to $205.7 million&nbsp;due to reduced revenue and increased expenses in insurance and claims, equipment, and certain personnel costs.
EPS of&nbsp;$1.32&nbsp;missed&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">the consensus of&nbsp;$1.57</a>.
As of June 30, 2024, the company had cash and cash equivalents of&nbsp;about $54 million.
In the&nbsp;second quarter&nbsp;of 2024, the company repurchased shares worth&nbsp;$203 million. As of June-end, J.B. Hunt had around&nbsp;$163 million&nbsp;remaining under its share repurchase authorization.
Investors can gain exposure to the stock via&nbsp;IShares Trust IShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and SPDR S&amp;P Transportation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XTN#NYSE">XTN</a>).
Price Action: JBHT shares are down&nbsp;3.41%&nbsp;at&nbsp;$170.00&nbsp;premarket at the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons

Equities

iShares Dow Jones Transportation Average Index Fund

JBHT

Why J.B. Hunt Transport Services Shares Are Falling Today

Republican presidential nominee Donald Trump in an interview with Bloomberg provided a glimpse into <a href="https://www.benzinga.com/news/24/07/39807207/trump-eyes-jamie-dimon-for-treasury-secretary-rules-out-ousting-fed-chair-jerome-powell">what a potential second term for him would look like.</a> As fund managers, business leaders and billionaires gravitate toward him in droves, with the move more pronounced recently, former White House Director Anthony Scaramucci weighed in with his thoughts on the development.
Superficial Analysis: &#8220;The billionaire boys are all in for Trump,&#8221; said Scaramucci in a post on X, formerly Twitter. A cursory analysis showed that they expected lower taxes and pro-business regulation to be good for companies and America.
During the <a href="https://www.bloomberg.com/features/2024-trump-interview/">interview</a>, Trump said he would bring down the corporate tax rate to as low as 15%, a full six points below the current federal corporate tax of 21%. The former president also said that he expects to beat the Democrats this time around with his economic agenda. With the unorthodox agenda of tax cuts, more oil, less regulation, higher tariffs and fewer foreign financial commitments, Trump is eyeing to sway the swing voters in his favor.
He also suggested that he would let Federal Reserve Chair Jerome Powell serve out his full term that ends by May 2026 and appoint JPMorgan CEO Jamie Dimon as Treasury Secretary. He may not be keen on banning TikTok this time around, he said in the interview.
See Also: <a href="https://www.benzinga.com/news/24/07/39787296/first-obvious-error-by-trump-after-winning-nomination-says-anthony-scaramucci-of-ex-president-picks">&#8216;First Obvious Error&#8217; By Trump After Winning Nomination, Says Anthony Scaramucci As Ex-President Picks JD Vance As Running Mate: Pollster Says &#8216;Not The Pick…To Maximize Chances Of Winning The Presidency&#8217;</a>
Real Problem Lies Elsewhere: The real problem, according to Scaramucci, is what a potential Trump administration wants to do to the dollar, the constitution, the judiciary and the rules-based international system. &#8220;It is a brand of anarcho-Christian populism, which borders on fascism; it is a very dangerous time for the United States,&#8221; the founder of investment firm SkyBridge Capital said.
Scaramucci noted that the deficit spending is out of control. &#8220;If they devalue the dollar, they're going to disrupt the entire global capitalist system,&#8221; he said. &#8220;Joe Biden and his team are trying to keep things status quo, which is also impossible given the state of everything.&#8221;
The Bloomberg report said Trump's plan to renew his landmark 2017 Tax Cuts and Jobs Act, which carries an estimated price tag of $4.6 trillion, and to further reduce corporate taxes, may not help to bring about budgetary balance. This apart, his protectionist policies have the potential to exert upward pressure on interest rates, the report said, adding that it could only serve to aggravate America&#8217;s debt burden.
The ex-White House aide said, &#8220;I have been where the billionaire boys are now and I want to offer some caution and a perspective borne from up close experience, the tonic they are prescribing will be bad for America and the world.&#8221; 
&#8220;I understand the need for change and reform but don't overly stress the system, a system where you have been a direct beneficiary.&#8221;
Scaramucci&#8217;s comments come as business leaders, led by <a href="https://www.benzinga.com/24/07/39763381/elon-musk-discloses-2-attempts-on-his-life-and-endorses-trump-following-rally-shooting-dangerous-tim">Tesla CEO Elon Musk, endorsed Trump</a> after the Pennsylvania rally shooting. Tech venture capitalist David Sacks has long been supporting the former president, while hedge fund manager Bill Ackman recently pledged allegiance to him.
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Image Via Shutterstock

Politics

Economics

As 'Billionaire Boys' Go All In For Trump, Anthony Scaramucci Has Word Of Caution: 'Tonic They Are Prescribing Will Be Bad For America And The World'

HC Wainwright &amp; Co. analyst Robert Burns maintains Relay Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RLAY#NASDAQ">RLAY</a>) with a Buy and lowers the price target from $20 to $18.

RLAY

HC Wainwright & Co. Maintains Buy on Relay Therapeutics, Lowers Price Target to $18

Johnson & Johnson Q2 2024 Adj EPS $2.82 Beats $2.70 Estimate, Sales $22.447B Beat $22.306B Estimate

Citizens Financial Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>) reported quarterly earnings of $0.82 per share which beat the analyst consensus estimate of $0.80 by 2.5 percent.

Earnings Beats

Citizens Financial Group Q2 2024 GAAP EPS $0.82 Beats $0.80 Estimate

Baird analyst David George downgrades Associated Banc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASB#NYSE">ASB</a>) from Outperform to Neutral and maintains the price target from $27 to $27.

Baird Downgrades Associated Banc to Neutral, Maintains Price Target to $27

Needham analyst Laura Martin maintains Amazon.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) with a Buy and raises the price target from $205 to $210.

AMZN

Needham Maintains Buy on Amazon.com, Raises Price Target to $210

Baird analyst David George downgrades Truist Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>) from Outperform to Neutral and maintains the price target from $45 to $45.

Baird Downgrades Truist Finl to Neutral, Maintains Price Target to $45

HC Wainwright &amp; Co. analyst Robert Burns reiterates Caribou Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRBU#NASDAQ">CRBU</a>) with a Buy and maintains $9 price target.

HC Wainwright & Co. Reiterates Buy on Caribou Biosciences, Maintains $9 Price Target

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