Elevation Series Trust SRH REIT Covered Call ETF (ARCA: SRHR)

Latest news for Elevation Series Trust SRH REIT Covered Call ETF (ARCA:SRHR)

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The Fund invests at least 80% of its net assets in Real Estate Investment Trusts (REITs) that are publicly traded on domestic stock exchanges. In addition, the Fund strategically implements an option strategy consisting of writing (selling) U.S. exchange-traded covered call options on the REITs in the Funds portfolio.

Equinix, Inc.

Lamar Advertising Co

Highwoods Properties Inc

Public Storage

STAG Industrial, Inc.

Diamondrock Hospitality Co

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Host Hotels & Resorts Inc.

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SRVR

Equinix recently disclosed a joint venture with GIC and CPP Investments to raise over $15B for expansion of hyperscale data centers in US and support AI and cloud services. Equinix CEO states potential for AI growth. 

Equinix Turbocharges AI And Cloud Growth With $15B Joint Venture: Expanding xScale Data Centers Worldwide

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Earnings

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REIT

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Equinix, Inc. reported Q1 FY24 results with revenues up 6%, adjusted EBITDA up to $992M, and a quarterly dividend of $4.26. President and CEO sees potential in digital initiatives driving growth. Gain exposure with Pacer Data &amp; Infrastructure Real Estate ETF.

What&#39;s Going On With Data Center REIT Equinix Stock Today?

Elevation Series Trust SRH REIT Covered Call ETF

Paragon 28 shareholders will also receive a non-tradeable contingent value right (CVR) entitling the holder to receive up to $1.00 per share in cash if certain revenue milestones are achieved.&nbsp;
The CVR will be payable in whole or in part if net sales exceed $346 million up to $361 million (with the CVR payments calculated linearly between $0.00 and $1.00 if net sales are between $346 million and $361 million) during Zimmer Biomet's fiscal year 2026.&nbsp;
The board of directors of each of Zimmer Biomet and Paragon 28 has unanimously approved the proposed transaction.
 &nbsp;

Zimmer Biomet To Acquire Paragon 28 For Upfront Payment Of $13.00 Per Share In Cash, Corresponding To An Equity Value Of $1.1B And Enterprise Value Of $1.2B

Jones Trading analyst Soumit Roy initiates coverage on OnKure Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKUR#NASDAQ">OKUR</a>) with a Buy rating and announces Price Target of $32.

Price Target

Initiation

Analyst Ratings

OKUR

Jones Trading Initiates Coverage On OnKure Therapeutics with Buy Rating, Announces Price Target of $32

Jefferies analyst Rob Dickerson maintains WK Kellogg (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KLG#NYSE">KLG</a>) with a Hold and lowers the price target from $19 to $16.

Jefferies Maintains Hold on WK Kellogg, Lowers Price Target to $16

The Food and Drug Administration on Tuesday approved Ozempic, the weight loss drug made by Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>), for the treatment of chronic kidney disease in patients who also <a href="https://www.benzinga.com/25/01/42875977/novo-nordisk-seeks-to-strengthen-its-obesity-pipeline-with-back-to-back-two-biobuck-deals">have type 2 diabetes. </a>
The Details: According to the Centers for Disease Control and Prevention, more than 35.5 million Americans have chronic kidney disease, often as a complication of type 2 diabetes. The new FDA approval allows for further expansion of Ozempic's use and potential coverage by health insurance plans.&nbsp;
Read Next:<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43254018/sofi-stock-falls-on-soft-guidance-despite-strong-quarter-with-record-member-growth-loan-originations-analyst"> SoFi Stock Falls On Soft Guidance Despite &#8216;Strong Quarter&#8217; With Record Member Growth, Loan Originations: Analyst&nbsp;</a>
The FDA approval "allows us to more broadly address conditions within cardiovascular-kidney-metabolic syndrome, which affects millions of adults and could have serious consequences if left untreated," Anna Windle, a senior vice president at Novo Nordisk, said in a statement Tuesday, per a Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-01-28/novo-s-ozempic-notches-approval-for-kidney-disease-widening-use?sref=TBDibEcD">report</a>.&nbsp;
Ozempic and other diabetes drugs known as GLP-1s have become popular and also well-known for their high cost.&nbsp;
Earlier in January, Novo Nordisk's diabetes and weight loss drugs, Ozempic, Rybelsus, and Wegovy were all added to the U.S. Department of Health and Human Services list of drugs covered under Medicare Part D that<a href="https://www.benzinga.com/25/01/43062779/popular-ozempic-wegovy-selected-for-next-round-of-medicare-drug-price-negotiations"> have been selected</a> for mandated price negotiations in order to reduce <a href="https://www.benzinga.com/general/biotech/24/08/40534249/novo-nordisks-ozempic-might-be-among-2027-medicare-price-negotiation-targets">prescription drug costs</a>.
The negotiations will take place in 2025, with the new prices slated to take effect in 2027.
NVO Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Novo Nordisk shares ended Tuesday's session down 2.65% at $85.19.&nbsp;
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/25/01/43287988/microsoft-q2-preview">Microsoft Q2 Earnings Preview: Street &#8216;Too Optimistic&#8217; On Near-Term AI Returns?&nbsp;</a></li>
</ul>
Photo: Shutterstock

Biotech

Health Care

General

Ozempic Receives FDA Approval To Treat Kidney Disease

Trading Halt: Halt status updated at 5:50:00 PM ET: Quotation Resumption: News and Resumption Times

Finward Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FNWD#NASDAQ">FNWD</a>) reported quarterly earnings of $0.49 per share which beat the analyst consensus estimate of $0.20 by 145 percent. This is a 40 percent increase over earnings of $0.35 per share from the same period last year. The company reported quarterly sales of $16.34 million which beat the analyst consensus estimate of $16.00 million by 2.12 percent. This is a 5.75 percent increase over sales of $15.45 million the same period last year.

Earnings Beats

FNWD

Finward Bancorp Q4 2024 GAAP EPS $0.49 Beats $0.20 Estimate, Sales $16.34M Beat $16.00M Estimate

Compass Point analyst Giuliano Bologna upgrades Affirm Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) from Sell to Neutral and raises the price target from $20 to $61.

Upgrades

AFRM

Compass Point Upgrades Affirm Holdings to Neutral, Raises Price Target to $61

The options include a possible sale of the company, business combination, sale of all or part of the Company's assets, licensing of assets, restructuring, or other strategic action.

23andMe Reveals Process To Explore Strategic Alternatives

Compass Point analyst Joe Flynn initiates coverage on Applied Digital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLD#NASDAQ">APLD</a>) with a Buy rating and announces Price Target of $10.

APLD

Compass Point Initiates Coverage On Applied Digital with Buy Rating, Announces Price Target of $10

Synaptics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYNA#NASDAQ">SYNA</a>) shares are rising in extended trading Tuesday after the company signed a <a href="https://www.benzinga.com/pressreleases/25/01/g43286953/synaptics-accelerates-edge-ai-strategy-with-new-broadcom-agreement">licensing agreement with Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>)</a>.
What Happened: After the market close on Tuesday, Synaptics announced it&#8217;s accelerating its Edge <a href="http://benzinga.com/topic/ai">AI</a> strategy through a definitive licensing agreement with Broadcom.
The agreement includes Wi-Fi&nbsp;8, ultra-wideband (UWB), Wi-Fi 7, advanced Bluetooth and GPS/GNSS products and technology for IoT and the Android ecosystem.
&#8220;Our wireless technology and capabilities are cornerstones of our success in IoT markets,&#8221; said Michael Hurlston, president and CEO of Synaptics. 
&#8220;We are now developing this expertise to enable ecosystems with centralized control and seamless connectivity to a rapidly growing array of Edge AI devices. Our platform history, proven track record, and strategy uniquely position us to integrate Broadcom&#8217;s technology and fully deliver on the potential of IoT connectivity.&#8221;
Check This Out: <a href="https://www.benzinga.com/general/restaurants/25/01/43288533/starbucks-q1-earnings-revenue-beat-eps-beat-memberships-up-1-positive-response-to-turnaround-efforts">Starbucks Q1 Earnings: Revenue Beat, EPS Beat, Memberships Up 1%, &#8216;Positive Response&#8217; To Turnaround Efforts</a>
Synaptics said the deal is expected to add&nbsp;at least $40 million in annualized sales. The company also expects the transaction to be immediately accretive to adjusted earnings per share. 
The all-cash transaction is expected to close on Jan. 30. Financing details were not provided, but Synaptics said it will provide more information on the transaction when it reports <a href="https://www.benzinga.com/calendars/earnings">second-quarter earnings</a> on Feb. 6. 
Analysts currently expect Synaptics to report earnings of 86 cents per share and revenue of $265.14 million for the second quarter, according to <a href="http://pro.benzinga.com">Benzinga Pro</a> estimates.
SYNA Price Action: Synaptics shares were up 5.13% in after-hours, trading at $84.66 at the time of publication Tuesday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
This illustration was generated using artificial intelligence via Midjourney.

Contracts

After-Hours Center

Tech

AVGO

SYNA

Synaptics Stock Climbs On Broadcom Deal Focused On Edge AI

MGNI

Magnite Says Working With Sky New Zealand To Power Programmatic Advertising On Sports Streaming Platform, Sky Sport Now

Compass Point analyst David Rochester downgrades Synchrony Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYF#NYSE">SYF</a>) from Buy to Neutral and announces $70 price target.

Downgrades

Compass Point Downgrades Synchrony Finl to Neutral, Announces $70 Price Target

Through this contract, Planet joins the Copernicus Contributing Missions, officially contributing commercial satellite data alongside ESA's Sentinel satellite data to the Copernicus services.

Planet Labs Germany GmbH Signs Multi-year Contract With The European Space Agency

CIBC analyst Paul Holden maintains Sun Life Financial (TSX:<a class="ticker" href="https://www.benzinga.com/stock/SLF#TSX">SLF</a>) with a Outperformer and raises the price target from C$96 to C$97.

TSX:SLF

CIBC Maintains Outperformer on Sun Life Financial, Raises Price Target to C$97

It is payable March 17, 2025, to shareholders of record at the close of business on March 3, 2025.

Dividends

Stifel Financial Boosts Quarterly Common Stock Cash Dividend By 10% From $0.42 To $0.46 Per Share

This settlement concludes Aspen's legal action against AMA regarding the unauthorized sale of infringing aerogel insulation materials in Europe.

Legal

ASPN

Aspen Aerogels Reaches Agreement To Resolve Its Patent Dispute With AMA; No Terms Disclosed

CIBC analyst Paul Holden maintains Manulife Financial (TSX:<a class="ticker" href="https://www.benzinga.com/stock/MFC#TSX">MFC</a>) with a Neutral and raises the price target from C$46 to C$47.

TSX:MFC

CIBC Maintains Neutral on Manulife Financial, Raises Price Target to C$47

Primis Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRST#NASDAQ">FRST</a>) reported quarterly losses of $(0.65) per share which missed the analyst consensus estimate of $0.11 by 690.91 percent. This is a 285.71 percent decrease over earnings of $0.35 per share from the same period last year. The company reported quarterly sales of $39.30 million which beat the analyst consensus estimate of $24.78 million by 58.63 percent. This is a 0.17 percent increase over sales of $39.24 million the same period last year.

Earnings Misses

FRST

Primis Finl Q4 Adj EPS $(0.65) May Not Be Comparable to $0.11 Estimate, Sales $39.30M Beat $24.78M Estimate

Flushing Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NASDAQ">FFIC</a>) reported quarterly earnings of $0.14 per share which missed the analyst consensus estimate of $0.22 by 36.36 percent. This is a 44 percent decrease over earnings of $0.25 per share from the same period last year.

FFIC

Flushing Financial Q4 2024 Adj EPS $0.14 Misses $0.22 Estimate

To improve financial condition and liquidity position, it is attempting to raise additional capital and working to implement cost-cutting measures, including additional reductions in operating expenses, negotiating terminations of long-term real estate leases, and attempting to reach a settlement covering all U.S. customers affected by the cyber incident as well as to resolve non-U.S. litigation and ongoing investigations from various governmental agencies arising from the cyber incident.

23andMe Notes Continued Concerns Regarding Liquidity, Consideration Of Potential Ways To Address Operational And Financial Challenges

Equinix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EQIX#NASDAQ">EQIX</a>) shares are trading lower on Thursday.



On Tuesday, the company disclosed a joint venture with GIC and Canada <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/n41115011/equinix-agrees-to-form-greater-than-15b-jv-to-expand-hyperscale-data-centers-in-the-u-s-and-suppor" rel="noreferrer noopener">Pension Plan Investment Board (CPP Investments)</a>.



All parties have made equity commitments, and the JV plans to raise more than $15 billion in investable capital through equity and debt.



As per the terms, CPP Investments and GIC will each hold a 37.5% equity stake in the joint venture, while Equinix will own 25%.



Equinix&#8217;s current hyperscale joint venture portfolio in Europe, Asia-Pacific, and the Americas has over $8 billion in committed investment. When fully built out, it aims to deliver more than 725 MW of power capacity across 35+ facilities.



The JV will accelerate the expansion of Equinix&#8217;s xScale data center portfolio, which supports hyperscale companies in enhancing their core deployments at Equinix&#8217;s IBX data centers.



Once fully realized, this new JV will nearly triple the investment capital of the xScale program, driven by the growing demand for AI and cloud services.



Also Read: <a href="https://www.benzinga.com//node/41168255">Rezolve AI Shares Surge On Microsoft Partnership Announcement: What You Need To Know</a>



Equinix expects the JV to acquire land and develop new xScale facilities on several 100+ MW campuses in the U.S., adding over 1.5 gigawatts of capacity for hyperscale customers.



The joint venture&#8217;s closing, pending regulatory approvals, is expected by the fourth quarter of 2024.



Adaire Fox-Martin, CEO and President, Equinix stated, &#8220;As the world&#8217;s leading companies build out their infrastructure to support key workloads such as artificial intelligence, they require the combination of large-scale data center footprints optimized for AI training and interconnection nodes for the most efficient inferencing.&#8221;



&#8221;Our xScale and IBX offerings are uniquely positioned to address this business need, enabling companies to realize the powerful potential of AI.&#8221;



Investors can gain exposure to the stock via&nbsp;Pacer Data &amp; Infrastructure Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRVR#NYSE">SRVR</a>) and Elevation Series Trust SRH REIT Covered Call ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRHR#NYSE">SRHR</a>).



Price Action: EQIX shares are down 0.98% at $877.92 at the last check Thursday.



Image via Shutterstock



Read Next:



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<li><a href="https://www.benzinga.com/general/biotech/24/09/40752686/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet" target="_blank" rel="noreferrer noopener">Benzinga&#8217;s &#8216;Stock Whisper&#8217; Index: 5 Stocks Investors Secretly Monitor But Don&#8217;t Talk About Yet</a></li>
</ul>

Equinix, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EQIX#NASDAQ">EQIX</a>) shares are trading higher after the company reported&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/n38712652/equinix-reports-first-quarter-2024-results" rel="noreferrer noopener">first-quarter FY24 results</a>.



Revenues increased 6% Y/Y to $2.13 billion, missing the consensus of $2.14 billion. Adjusted EBITDA rose to $992 million from $945 million a year ago, with a margin of 47% (flat Y/Y).



Equinix currently has 50 major projects underway across 34 markets in 21 countries. Adjusted FFO per share of $8.86 beat <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">the consensus of $8.64</a>.



Also, in the quarter, Equinix interconnection adds increased to 6,200, supported by healthy gross adds activity and moderation of consolidations into higher bandwidth connections.



Dividend: The Board of Directors declared a quarterly dividend per share of&nbsp;$4.26, payable on&nbsp;June 19 to shareholders of record<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/n38713206/equinix-declares-quarterly-dividend-on-its-common-stock" rel="noreferrer noopener">&nbsp;as of&nbsp;May 22</a>.



Charles Meyers, President and CEO, said, &#8220;The rapidly evolving AI landscape continues to serve as a catalyst for economic expansion, creating immense potential for Equinix as our customers recognize the importance of digital initiatives in driving long-term revenue growth and operational efficiency. This strong demand from customers across multiple sectors positions Platform Equinix as the trusted partner for digital leaders to interconnect and enhance the foundational digital infrastructure that powers our world.&#8221;



Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/02/37289570/equinix-eyes-african-growth-with-390m-investment-in-data-center-expansion-report" rel="noreferrer noopener">Equinix Eyes African Growth With $390M Investment In Data Center Expansion:&nbsp;Report</a>



Outlook: For&nbsp;the second quarter, Equinix projects revenues of&nbsp;$2.148 billion-$2.168 billion&nbsp;vs. consensus of&nbsp;$2.18 billion, adjusted&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">EBITDA of&nbsp;$1.019 billion-$1.039 billion</a>.



For FY24, the company expects revenue of $8.692&nbsp;billion &#8211;&nbsp;$8.792 billion (down from prior $8.793 billion&nbsp;&#8211;&nbsp;$8.893 billion),&nbsp;compared to the $8.86 billion estimate.



Equinix anticipates FY24 adjusted FFO per share of $34.45&nbsp;&#8211;&nbsp;$35.29 against the consensus of $34.99 (down from the prior outlook of $34.58&nbsp;&#8211;&nbsp;$35.31).



Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38252243/equinix-forms-its-second-joint-venture-with-pgim-real-estate-whats-on-the-cards" rel="noreferrer noopener">Equinix Forms Its Second Joint Venture With PGIM Real Estate &#8211; What&#8217;s On The Cards?</a>



In March, Equinix announced the appointment of Adaire Fox-Martin as the new President and CEO, succeeding Charles Meyers, <a href="https://www.benzinga.com/markets/equities/24/03/37667922/data-center-reit-equinix-ropes-in-google-executive-as-new-ceo" target="_blank" rel="noreferrer noopener">effective second-quarter 2024</a>.



In another development, ServiceNow, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>), the AI platform for business transformation, announced on Wednesday an expansion of the strategic relationship with Equinix to streamline <a href="https://www.benzinga.com//node/38707448">operations of digital infrastructure.</a>



Investors can gain exposure to the stock via&nbsp;Pacer Data &amp; Infrastructure Real Estate ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRVR#NYSE">SRVR</a>) and&nbsp;Elevation Series Trust SRH REIT Covered Call ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRHR#NYSE">SRHR</a>).



Price Action: EQIX shares are up 11.6% at $773.15 at the last check Thursday.



Photo: courtesy of Equinix

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