Latest news for WPD Pharmaceuticals (OTC:WPDPF) Stock

WPD Pharmaceuticals Inc is a biotechnology research and development company. It focuses on oncology, virology, research, and development of medicinal products involving biological compounds and small molecules.

WPD PHARMACEUTICALS INC by WPD Pharmaceuticals Inc.

WPD Pharmaceuticals Inc

News

Guidance

First Horizon Updates FY24 Adjusted Expectations For Net Interest Income To Flat - (2)% From Prior Forecast Of Up 1%– 4%

This amended and restated Merger Agreement, among others, addresses pre-closing issues critical for Evofem&#39;s future success, including interim financing needs. The other revisions to the Merger Agreement, alongside additional interim financing for Evofem, include substituting cash for Aditxt&#39;s common stock as the consideration for Evofem&#39;s common stock in the merger and additional changes relating to it. Aditxt and Evofem are diligently working to close the contemplated transaction in the second half of 2024.
The closing of the transaction between Aditxt and Evofem remains subject to the successful satisfaction of a number of closing conditions, including, but not limited to, Aditxt securing sufficient financing to fund its obligations at closing.&nbsp;

ADTX

EVFM

Aditxt And Evofem Amend Merger Agreement, Aiming For September 30 Closure; Evofem Acquires FDA-Approved SOLOSEC

HC Wainwright &amp; Co. analyst Raghuram Selvaraju reiterates Annovis Bio (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANVS#NYSE">ANVS</a>) with a Buy and maintains $30 price target.

Price Target

Reiteration

Analyst Ratings

ANVS

HC Wainwright & Co. Reiterates Buy on Annovis Bio, Maintains $30 Price Target

Bill Ackman, the billionaire investor, is planning to use his social media presence and a Warren Buffett&#8211;<a href="https://www.benzinga.com/news/24/07/39766570/bill-ackman-says-his-unofficial-mentor-warren-buffett-inspired-him-to-take-pershing-square-funds-pub">like annual meeting</a> to bolster his new investment fund.
What Happened: Ackman is currently promoting a U.S.-based investment fund, Pershing Square USA, which is set to go public. The fund, with a potential value of up to $25 billion, is expected to be one of the largest IPOs ever, competing with major entities like Saudi Aramco and Alibaba, <a href="https://www.ft.com/content/13277e79-3f89-4294-aee1-f1c2a40afbfb">reported</a> Financial Times.
He has been using his significant social media following, which has grown over the past year due to his vocal opinions on political and social issues, to attract potential investors. 
Ackman has been discussing the fund with potential investors, citing his over 1 million followers on a social media platform and comparing the fund to companies that would trade at a valuation of at least two times the book value of its assets.
"I have built a relatively large following on Twitter, or X, over time and used it to discuss a number of topics but, historically, for regulatory reasons, have not been able to discuss investment activity. I will be completely unrestricted in terms of my ability to update our shareholders about developments in the portfolio," Ackman informed shareholders during a public presentation included in the IPO roadshow.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39764702/bitcoin-ethereum-dogecoin-recover-as-market-reacts-positively-to-trump-escaping-assassinat?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Recover As Market Reacts Positively To Trump Escaping Assassination Attempt: Analyst Predicts King Crypto&#8217;s Pullback Before Rise To $63.8K</a>
Moreover, Ackman plans to hold an in-person annual shareholder meeting for the fund&#8217;s investors, similar to Berkshire Hathaway&#8216;s annual gathering hosted by Buffett. He also intends to use public platforms to discuss his investment strategies and large bets he may occasionally put on to protect against a severe plunge in financial markets.
Pershing Square USA is registered as a &#8220;40 Act Fund,&#8221; affording it fewer regulatory communication restrictions compared to Pershing Square Holdings.
"The fund is just geared to retail," said an investment manager who has had discussions with Ackman. "He can have direct engagement in the U.S., that's why he thinks it will trade up. He wasn't allowed to tweet about his London-listed fund," added the investor.
Pershing Square Holdings did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
Why It Matters: Ackman's decision to leverage social media for the promotion of Pershing Square USA is a strategic move inspired by his admiration for Buffett. Ackman has recently cited Buffett as his &#8220;unofficial mentor,&#8221; particularly noting Buffett&#8217;s t<a href="https://www.benzinga.com/news/24/07/39766570/bill-ackman-says-his-unofficial-mentor-warren-buffett-inspired-him-to-take-pershing-square-funds-pub">ransition from private partnerships</a> to managing Berkshire Hathaway.
Additionally, Ackman's recent endorsement of former President Donald Trump has <a href="https://www.benzinga.com/news/24/07/39763405/billionaire-investor-bill-ackman-announces-trump-endorsement-i-assure-you-that-i-have-made-this-deci">drawn significant attention</a>. This endorsement, announced on the social media platform X, has sparked both support and criticism, highlighting Ackman's influence and controversial presence online.
Moreover, Ackman's social media strategy has not been free from criticism. Mark Cuban recently criticized Ackman for pandering to his social media followers, questioning the <a href="https://www.benzinga.com/news/24/06/39349276/mark-cuban-slams-bill-ackman-piers-morgan-for-pandering-to-social-media-followers-on-2024-election-b">objectivity of his political endorsements</a>.
Lastly, Ackman's move to take Pershing Square public follows a significant valuation deal. In May, Ackman announced plans to take the firm public by 2025, following a <a href="https://www.benzinga.com/24/05/39107994/bill-ackman-plans-to-take-pershing-square-public-by-2025-following-10-5b-valuation-deal-report">$10.5 billion valuation</a> deal, according to a report. This move is part of a broader strategy to attract billions more in assets, focusing on undervalued large company stocks.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/07/39770159/why-tesla-shares-are-shooting-up-in-premarket?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Why Tesla Shares Are Shooting Up In Premarket</a>
Image Via Wikimedia Commons
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/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

IPOs

Markets

From Warren Buffett-Style Annual Meetings To Social Media Strategy: Here's How Bill Ackman Plans To Bolster His $25B Investment Fund, Pershing Square USA

Mizuho analyst David Bellinger downgrades Five Below (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>) from Outperform to Neutral and lowers the price target from $150 to $85.

Downgrades

FIVE

Mizuho Downgrades Five Below to Neutral, Lowers Price Target to $85

HC Wainwright &amp; Co. analyst Robert Burns reiterates Nuvation Bio (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUVB#NYSE">NUVB</a>) with a Buy and maintains $8 price target.

NUVB

HC Wainwright & Co. Reiterates Buy on Nuvation Bio, Maintains $8 Price Target

First Horizon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FHN#NYSE">FHN</a>) reported quarterly sales of $815.000 million which missed the analyst consensus estimate of $822.032 million by 0.86 percent. This is a 20.95 percent decrease over sales of $1.031 billion the same period last year.

Earnings

Earnings Misses

First Horizon Q2 2024 Sales $815.000M Miss $822.032M Estimate

HC Wainwright &amp; Co. analyst Robert Burns reiterates ORIC Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORIC#NASDAQ">ORIC</a>) with a Buy and maintains $21 price target.

ORIC

HC Wainwright & Co. Reiterates Buy on ORIC Pharmaceuticals, Maintains $21 Price Target

First Horizon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FHN#NYSE">FHN</a>) reported quarterly earnings of $0.36 per share which missed the analyst consensus estimate of $0.37 by 2.7 percent. This is a 2.86 percent increase over earnings of $0.35 per share from the same period last year.

First Horizon Q2 2024 Adj EPS $0.36 Misses $0.37 Estimate

Morgan Stanley analyst Stephen Byrd downgrades CenterPoint Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNP#NYSE">CNP</a>) from Overweight to Equal-Weight and lowers the price target from $30 to $29.

Morgan Stanley Downgrades CenterPoint Energy to Equal-Weight, Lowers Price Target to $29

Biotech

Large Cap

Health Care

General

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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"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.

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

Movers

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.
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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

Wpd Pharmaceuticals Inc (TSE:WBIO) has released an update. WPD Pharmaceuticals Inc. has filed their annual financial statements for 2023 and is act...

WPD Pharmaceuticals Seeks Financial Revival

WPD Pharmaceuticals (TSE:WBIO) has released an update. WPD Pharmaceuticals Inc. has resumed trading of its common shares on the Canadian Securities...

WPD Pharmaceuticals Resumes Trading, Eyes Growth

WPD Pharmaceuticals (TSE:WBIO) has released an update. WPD Pharmaceuticals has reached an agreement with its CEO, a director, and a former director...

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WPD Pharmaceuticals

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