Kernel Group Holdings Stock (NASDAQ: KRNLW)

Latest news for Kernel Group Holdings (NASDAQ:KRNLW) Stock

Kernel Group Holdings Inc is a blank check company.

Kernel Group Holdings Inc

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.

News

Upgrades

Price Target

Analyst Ratings

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: 
<ul>
<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

General

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

WIIM

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

Health Care

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.

Air Products Reports Formation Of Management Board, Effective Immediately, To Execute Two-Pillar Growth Strategy

Deutsche Bank analyst Lauren Silberman maintains Domino's Pizza (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NYSE">DPZ</a>) with a Buy and lowers the price target from $580 to $500.

Deutsche Bank Maintains Buy on Domino's Pizza, Lowers Price Target to $500

Ero Copper Corp. (TSX:<a class="ticker" href="https://www.benzinga.com/stock/ERO#TSX">ERO</a>, NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ERO#NYSE">ERO</a>) (&quot;Ero&quot; or the &quot;Company&quot;) is pleased to announce that it has signed a definitive earn-in agreement (&quot;Agreement&quot;) with Salobo Metais S.A, a subsidiary of Vale Base Metals Limited (&quot;VBM&quot;), to earn a&nbsp;60%&nbsp;interest in the Furnas Copper Project (&quot;Furnas&quot; or the &quot;Project&quot;) located in the Caraj&aacute;s Mineral Province in Par&aacute; State, Brazil. 
&nbsp;
The terms of the Agreement align with the previously signed binding term sheet outlined in the Company&#39;s press release dated October 30, 2023. For additional detail on the Project, including location maps, geologic cross sections, historical drill intercepts and a description of the Company&#39;s work programs, please refer to the Company&#39;s press release dated October 30, 2023.

TSX:ERO

Ero Copper Signs Agreement with Vale Subsidiary for 60% Stake in Furnas Copper Project

&nbsp;The grant comes in the form of two tranches with the initial award of&nbsp;$0.9 million&nbsp;and subsequent funding of approximately&nbsp;$1 million&nbsp;subject to certain milestones. The grant was awarded under NIH award number 1U01DA059995-01

ANEB

Anebulo Receives $1.9M Grant From NIDA For Investigational IV Treatment Of Cannabis Toxic Effects

Verizon Continues To Expect FY24 Adj. EPS $4.50-$4.70 vs $4.58 Est.

Siyata Mobile Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYTA#NASDAQ">SYTA</a>)&nbsp;(&quot;Siyata&quot; or the &quot;Company&quot;), a global developer and vendor of Push-to-Talk over Cellular (PoC) handsets and accessories, today announced that it has received a&nbsp;$1.2 million&nbsp;order from an existing customer, a leading international EMS service provider, for additional units of the Company&#39;s PoC rugged handsets, Real Time View and related accessories.

SYTA

Siyata Mobile Secures $1.2M Order from Leading EMS Provider

Press Releases

Kernel Group Holdings, Inc. Confirms Funding to Extend Period to Consummate Initial Business Combination

Kernel Group Holdings, Inc. Announces Charter and Trust Agreement Amendments and Intention to Extend the Deadline to Complete a Business Combination to August 5, 2024

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Comments

Kernel Group Holdings

News

Latest news for Kernel Group Holdings (NASDAQ:KRNLW) Stock