Intelligent Bio Solutions Azioni (NASDAQ: INBS)

Ultime notizie per Intelligent Bio Solutions (NASDAQ:INBS) Azioni

Intelligent Bio Solutions

Intelligent Bio Solutions Inc is a life sciences company developing non-invasive, real-time monitoring and diagnostic tests for patients and their primary health practitioners. Its Biosensor Platform is developing and launching diagnostic tests urgently needed to help people living with chronic diseases. It also engages in the advancement of portable drug abuse testing through the analysis of fingerprint sweat. The test is non-invasive, hygienic, and fast, and screens for recent use of opioids, cocaine, methamphetamines, benzodiazepines, and marijuana. The company business through two operating segments include Commercially available Intelligent Fingerprinting Products (IFPG or IFPG segment) and, Development Stage Biosensor Platform Technology (BPT segment).

Intelligent Bio Solutions Inc. - Common Stock

Intelligent Bio Solutions Inc

WIIM

SMTK

SmartKem shares are trading higher after the company announced it partnered with AUO to jointly develop a rollable, transparent microLED display.

JMP Securities analyst Jordan Bender maintains Caesars Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>) with a Market Outperform and lowers the price target from $59 to $57.

News

Price Target

Analyst Ratings

JMP Securities Maintains Market Outperform on Caesars Entertainment, Lowers Price Target to $57

Trading Ideas

QMCO

Quantum Corp Shares Resumed Trade

U.S. stocks were higher, with the Dow Jones index gaining more than 400 points on Monday.
Shares of BridgeBio Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BBIO#NASDAQ">BBIO</a>) rose sharply during Monday's session after the company announced that the FDA approved Attruby to <a href="https://www.benzinga.com/24/11/42163927/fda-approves-bridgebio-pharmas-drug-for-rare-heart-disease-poised-to-challenge-pfizer-in-lucrative-yet-competitive-market">treat adults with ATTR-CM.</a>
On Friday, the FDA approved BridgeBio Pharma's Attruby (acoramidis), an orally-administered near-complete (≥90%) stabilizer of Transthyretin (TTR) for adults with ATTR-CM to reduce cardiovascular death and cardiovascular-related hospitalization. Also, HC Wainwright maintained a Buy rating on the stock and raised its price target from $43 to $49.
BridgeBio Pharma shares jumped 22.3% to $28.64 on Monday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Rigetti Computing, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>) shares jumped 69% to $2.9289 after the company completed a $100 million at-the-market equity offering, with plans to use the proceeds for working capital, capital expenditures, and advancements in superconducting quantum computing technology.</li>
<li>Scholar Rock Holding Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRRK#NASDAQ">SRRK</a>) gained 27.2% to $38.03. Scholar Rock Holding recently reported worse-than-expected third-quarter EPS results.</li>
<li>D-Wave Quantum Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QBTS#NASDAQ">QBTS</a>) surged 26.3% to $3.6800 after AWS announced Quantum Embark program.</li>
<li>Mercurity Fintech Holding Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MFH#NASDAQ">MFH</a>) gained 23.3% to $6.15.</li>
<li>Quantum Computing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QUBT#NASDAQ">QUBT</a>) rose 19% to $7.26 after AWS announced Quantum Embark program.</li>
<li>Eastman Kodak Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KODK#NYSE">KODK</a>) surged 17.4% to $6.18.</li>
<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) rose 16.6% to $38.36.</li>
<li>Eve Holding, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVEX#NYSE">EVEX</a>) gained 16.6% to $3.9062.</li>
<li>Bath &amp; Body Works, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBWI#NYSE">BBWI</a>) shares climbed 15.5% to $35.49 after the company reported better-than-expected third-quarter EPS and sales and raised its 2024 guidance.</li>
<li>Archer Aviation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACHR#NYSE">ACHR</a>) surged 14.6% to $6.92.</li>
<li>Hims &amp; Hers Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NYSE">HIMS</a>) rose 13.5% to $28.77.</li>
<li>Iovance Biotherapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IOVA#NASDAQ">IOVA</a>) gained 11.3% to $9.52.</li>
<li>Clarivate Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLVT#NYSE">CLVT</a>) rose 8.7% to $5.70.</li>
<li>Flagstar Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLG#NYSE">FLG</a>) gained 7.1% to $12.52.</li>
<li>Five Below, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>) climbed 6.8% to $92.82. Five Below will release its financial results for the third quarter of fiscal 2024 after the closing bell on Wednesday, Dec. 4.</li>
<li>Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) climbed 6.3% to $43.74.</li>
<li>Jones Lang LaSalle Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JLL#NYSE">JLL</a>) gained 6.1% to $279.28. Wolfe Research analyst Andrew Rosivach upgraded Jones Lang LaSalle from Peer Perform to Outperform and announced a $353 price target.</li>
<li>Elastic N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESTC#NYSE">ESTC</a>) rose 6% to $114.49 after Wedbush upgraded the stock from Neutral to Outperform and announced a $135 price target.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42137942/jim-cramer-says-this-stock-is-a-bitcoin-play-and-he-prefers-to-own-bitcoin">Jim Cramer Says This Stock Is A Bitcoin Play And He Prefers To Own Bitcoin</a></li>
</ul>

Intraday Update

Markets

ACHR

BBIO

BBWI

CLVT

ESTC

EVEX

FIVE

Hims & Hers Health, Inc. Class A Common Stock

HIMS

IOVA

KODK

MRNA

QBTS

QUBT

RGTI

SMCI

SRRK

BridgeBio Pharma, Rigetti Computing, Bath & Body Works And Other Big Stocks Moving Higher On Monday

Citigroup analyst Keith Horowitz maintains PNC Finl Servs Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>) with a Buy and raises the price target from $200 to $235.

Citigroup Maintains Buy on PNC Finl Servs Gr, Raises Price Target to $235

Israel and Lebanon have agreed on the framework for a cease-fire deal to end over a year of violent conflict between Israel and Hezbollah, a senior U.S. official told Axios on Monday.
While the agreement awaits formal approval from Israel's Security Cabinet on Tuesday, global financial markets are already reacting, with gold and oil prices tumbling as geopolitical risks recede and risky assets soar<a href="https://www.benzinga.com/topic/israel"> amid improving investor optimism. </a>
Both the Dow Jones Index and the S&amp;P 500 indices hit fresh record highs minutes following Monday&#8217;s market open in New York. 
<h3 class="wp-block-heading">Israel-Lebanon Deal: What It Includes</h3>
The cease-fire, if approved, would mark the end of a bloody chapter that has claimed the lives of over 3,500 Lebanese and 140 Israelis while displacing hundreds of thousands of people on both sides of the border. 
Under the proposed agreement, Israel would initiate a 60-day withdrawal of its military from southern Lebanon, the <a href="https://www.axios.com/2024/11/25/israel-lebanon-near-hezbollah-ceasefire-deal">Axios report said</a>. 
Simultaneously, the Lebanese army would deploy along border areas, and Hezbollah would relocate its heavy weaponry north of the Litani River.
To ensure compliance, a U.S.-led oversight committee would monitor the agreement, while the U.S. has pledged to support Israeli military action against imminent threats if Lebanese forces fail to act.
A senior U.S. official told Axios: "We think we have a deal. We are on the goal line, but we haven't passed it yet."
<h3 class="wp-block-heading">Oil, Gold Take A Blow</h3>
The news sent shockwaves through the commodities market. 
With the threat of broader regional conflict subsiding, West Texas Intermediate (WTI) crude oil – as tracked by the United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) – fell 1.5% on Monday to $70 per barrel, almost fully paring back Friday&#8217;s gains. 
Gold, tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) plunged over 3% to $2,640 an ounce as investors scaled back safe-haven bets. Silver followed suit, dropping 3% to $30.40 an ounce. 
The U.S. dollar also softened, losing 0.7% against a basket of major currencies, reflecting the shift in risk sentiment.
<h3 class="wp-block-heading">Stock Market Soars To New Heights</h3>
The cease-fire optimism spilled into equities. The S&amp;P 500 index – tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) –reached an all-time high of 6,020 points, gaining 0.8% on the day, while the Dow Jones Industrial Average – mimicked by the SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) – climbed 1% to a record-breaking 44,738.
Notably, all major S&amp;P sectors except energy posted gains, with the broader index aiming for its sixth straight session of gains.
Israeli stocks – tracked by the VanEck Israel ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ISRA#NYSE">ISRA</a>) – soared 1.9%, also eyeing a six-day winning streak.
S&amp;P 500&#8217;s top gainers during morning trading in New York included: 
<ul>
<li>Bath &amp; Body Works (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBWI#NYSE">BBWI</a>)</li>
<li>Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>)</li>
<li>Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>)</li>
<li>Clarivate Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLVT#NYSE">CLVT</a>)</li>
<li>Astera Labs, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAB#NASDAQ">ALAB</a>)</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42165391/vanguards-sp-500-etf-hits-100-billion-inflows-in-2024-is-spys-crown-at-risk">Vanguard&#8217;s S&amp;P 500 ETF Hits $100 Billion Inflows In 2024: Is SPY&#8217;s Crown At Risk?</a></li>
</ul>
Photo via Shutterstock.

Equities

Broad U.S. Equity ETFs

Emerging Markets

Specialty ETFs

Emerging Market ETFs

Commodities

Politics

Global

Econ #s

Movers

ETFs

ALAB

SPDR Dow Jones Industrial Average ETF Trust

ISRA

WOLF

Israel, Lebanon Reach Reported Cease-Fire Deal: Gold, Oil Tumble; S&P 500, Dow Jointly Hit Record Highs

Unsealed court documents highlight how <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41555467/federal-probe-into-tether-examines-potential-sanctions-and-money-laundering-breaches-wsj">drug cartels from Mexico and Colombia </a>are leveraging cryptocurrency, particularly Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>) and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), to launder tens of millions of dollars.
What Happened: The documents shed light on how criminal organizations, including the Sinaloa cartel, have turned to stablecoins and blockchain technology to move wealth across borders, according to a <a href="https://www.404media.co/tether-has-become-a-massive-money-laundering-tool-for-mexican-drug-traffickers-feds-say/">report</a> from 404 Media.
Benzinga has reached out to Tether CEO Paolo Ardoino for comments.
One confidential source disclosed to investigators that cartels purchase USDT in Mexico at below-market rates, given its association with drug proceeds. 
"The current trend was to purchase USDT from Mexico-based groups at a cheaper rate than the market price and then sell the USDT in Colombia," the source said. 
These transactions reportedly take place through currency exchanges, peer-to-peer networks and over-the-counter (OTC) trades.
The court filings <a href="https://www.documentcloud.org/documents/25379143-tether-document-1?ref=404media.co">revealed</a> substantial cryptocurrency activity linked to these cartels.
A Binance account under investigation processed over $15 million between May 2020 and September 2023, with 452 deposits and 567 withdrawals. 
Transactions often involved transferring funds across blockchain networks and converting them into other cryptocurrencies like Ethereum to obfuscate the origin of the funds.
The documents also connect Grupo Gueratti, an investment management firm based in Guadalajara, Mexico, and its alleged associate L.E.O.T., to money laundering activities. 
Investigators used undercover operatives to pick up cash in the U.S., convert it into cryptocurrency, and transfer it to wallets linked to L.E.O.T. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42160774/microstrategy-is-the-bitcoin-magnet-says-bernstein-but-not-everybodys-sold-nothing-is-free-in-finance-says-one-analyst">MicroStrategy Is The &#8216;Bitcoin Magnet,&#8217; Says Bernstein, But Not Everybody&#8217;s Sold: &#8216;Nothing Is Free In Finance,&#8217; Says One Analyst</a>
By April 2024, undercover operations had facilitated more than 20 money-laundering transactions involving USDT.
Binance told 404 Media that it works closely with law enforcement to combat criminal activities. 
"We work tirelessly alongside law enforcement to help combat crime&#8230; When we receive law enforcement requests for information or to freeze funds, we take action quickly," the company said. 
Binance also emphasized that blockchain technology provides transparency that aids anti-money laundering efforts.
Tether echoed similar sentiments, highlighting its collaboration with law enforcement to track illicit activity. 
"Every transaction is traceable, every asset can be seized, and every criminal can be caught," Tether's spokesperson said. 
The company claimed to have blocked over $2 billion in USDT linked to criminal activities and assisted law enforcement in 195 cases across 48 countries.
The documents also reveal that drug cartels have been using Bitcoin alongside Tether to facilitate transactions. 
The FBI <a href="https://www.documentcloud.org/documents/25379142-tether-document-2?ref=404media.co">investigated</a> another money-laundering organization tied to the Sinaloa cartel, which laundered over $52 million in drug proceeds between 2021 and 2023. 
Additionally, Chinese manufacturers of synthetic opioids have reportedly used Bitcoin for payments, enabling drug traffickers to transfer large sums instantly across the globe.
Why It Matters: The investigation comes as Tether's <a href="https://www.benzinga.com/24/11/42157756/firm-led-by-trumps-commerce-secretary-pick-howard-lutnick-reportedly-in-talks-for-a-multi-billion-dollar-bitcoin-lending-project-with-tether">connections to Wall Street deepen</a>.
Cantor Fitzgerald, led by Howard Lutnick, has been a key custodian of Tether's reserves. 
Lutnick is reportedly planning a multi-billion-dollar program involving Tether, offering dollar loans to clients who pledge Bitcoin as collateral. 
While Lutnick has praised Tether's financial transparency, the company has faced allegations of aiding illegal activities, including money laundering—a claim its CEO, Paolo Ardoino, has denied.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42145634/cboe-to-launch-cash-settled-bitcoin-index-options">Cboe To Launch Cash-Settled Bitcoin Index Options</a></li>
</ul>
Image: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

$USDT

Drug Cartels Use Tether And Bitcoin To Launder Millions, Court Documents Reveal

Citigroup analyst Keith Horowitz maintains Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) with a Neutral and raises the price target from $105 to $135.

Citigroup Maintains Neutral on Morgan Stanley, Raises Price Target to $135

JMP Securities analyst Joe Goodwin maintains Guidewire Software (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWRE#NYSE">GWRE</a>) with a Market Outperform and raises the price target from $200 to $231.

GWRE

JMP Securities Maintains Market Outperform on Guidewire Software, Raises Price Target to $231

Quantum Corp Shares Halted On Circuit Breaker To The Upside, Stock Now Up 186.9%

Citigroup analyst Keith Horowitz maintains Truist Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>) with a Neutral and raises the price target from $47 to $51.

Citigroup Maintains Neutral on Truist Finl, Raises Price Target to $51

Quantum Corp Shares Resume Trading

The tech job market is in a tough spot right now. People like Jon Bach, a former director at eBay, are feeling the squeeze. Bach worked at eBay for 13 years, but after getting laid off in January, his job search hasn't gone as planned.
Don't Miss:
<ul>
<li>The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?</li>
<li>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/1milsaved"> The percentage may shock you</a>.</li>
</ul>
&#8220;I don&#8217;t know what&#8217;s going on,&#8221; Bach said to Business Insider in a recent interview. &#8220;I&#8217;ve been doing this for a minute and I&#8217;ve proven my value. And then you apply to one place, two places, 10 places, 50 places, 135 places. And you go, &#8216;Am I the guy I think I am?'&#8221; Despite applying to 135 jobs, he's received only two callbacks and no offers.
It's not just Bach. Many white-collar professionals are struggling. The broader labor market looks fine on the surface. But for six-figure earners, <a href="https://www.benzinga.com/news/24/09/40724455/peter-schiff-says-illusion-of-a-strong-labor-market-fading-faster-than-kamala-harris-post-convention">it's a whole different story. </a>Data shows hiring for high-paying jobs has tanked. <a href="https://economicgraph.linkedin.com/workforce-data">New data from LinkedIn</a> highlights just how bad it is. IT hiring is down 27%. Quality assurance roles have dropped 32%. Product management is down 23% and engineering – once considered recession-proof – has fallen 26%.
Even in Bach's field, program and project management, hiring has slumped 25%. These numbers are shocking for a sector like tech. The sector once treated coders and engineers like "rare minerals." In Silicon Valley, cutting back on these roles was almost unthinkable, no matter how the economy was doing.
See Also: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."<a href="https://www.benzinga.com/money/warren-buffet-make-money-when-you-sleep"> Here&#8217;s how you can earn passive income with just $100.</a>
What's going on? There are a few reasons for this slowdown. During the pandemic, tech companies went on a hiring spree to keep up with demand. Now, they're cutting back. Some companies turned to mass layoffs, while others opted for hiring freezes and letting natural attrition shrink their teams.
Jenny Diani, a senior recruiter at Autodesk, sees it firsthand. &#8220;Candidates are being much more careful,&#8221; she told BI. Voluntary turnover in tech is way down, so companies don't need to hire as much.
In addition, AI tools like ChatGPT are making workers more efficient. Google has said that AI generates over 25% of its new code. This means companies can slow hiring without feeling the pinch.
Trending: This Jeff Bezos-backed startup will allow you to <a href="https://www.benzinga.com/money/bezos-landlord-100-dollars">become a landlord in just 10 minutes, with minimum investments as low as $100 for properties like the Byer House from Stranger Things.</a>
<a href="https://www.benzinga.com/real-estate/24/07/39748005/housing-market-eyes-relief-as-weak-job-numbers-and-4-1-unemployment-hint-at-september-rate-cut">The slowdown </a>is frustrating for job seekers. Santiago Rodriguez, a data scientist, has applied to 669 positions. He even built a dashboard to track his applications. &#8220;There's so much angst,&#8221; said Jon Stross, cofounder of Greenhouse, a hiring software company, to BI.
The number of applicants per job is also skyrocketing. Greenhouse reported an average of 222 applications per job opening in early 2024, up from 77 in late 2021. With so many resumes flooding in, hiring managers are overwhelmed.
There's a glimmer of hope, though. Some experts believe the worst of what BI calls the "white-collar recession" might be over. Art Zeile, CEO of Dice, told BI that tech job openings have climbed from 144,000 at the end of last year to 223,000. While it's still below pre-pandemic levels, it's progress.
Bach is optimistic. &#8220;I think a lot of people like me are eager to get back to work,&#8221; he said. &#8220;If you take a risk on me, I'll show you that I'm worth it.&#8221;
Read Next:
<ul>
<li>Many are using this retirement income calculator to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on how on what&#8217;s behind this formula.</a></li>
<li>Studies show 50% of consumers think Financial Advisors cost much more than they do —<a href="https://www.benzinga.com/money/money-pickle"> to debunk this, this company provides matching for free and a complimentary first call with the matched advisor.</a></li>
</ul>

Personal Finance

Six-Figure Job Market Faces 'White-Collar Recession' As LinkedIn Reports 26% Drop In Engineering Roles

KULR

KULR Technology Group shares are trading higher after the company announced it won a contract by the U.S. Navy to advance its Internal Short Circuit technology to activate at higher temperatures. Also, the CEO and Co-Founder, Michael Mo, on X posted that the company is building the next digital energy management platform.

Summit Materials, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUM#NYSE">SUM</a>) shares are trading higher on Monday. The company inked a definitive deal to be acquired by privately owned family business Quikrete Holdings for $52.50 per share in cash, valuing the transaction at <a href="https://www.benzinga.com/pressreleases/24/11/n42159941/summit-materials-enters-into-definitive-agreement-to-be-acquired-by-quikrete-for-52-50-per-share-i" target="_blank" rel="noreferrer noopener">approximately $11.5 billion, including debt</a>.
The deal price&nbsp;represents a 36% premium to Summit&#8217;s 90-day volume-weighted average price and a 29% premium to its unaffected share price. In October, Summit Materials disclosed receiving<a target="_blank" href="https://www.benzinga.com//node/41535519" rel="noreferrer noopener"> a non-binding acquisition proposal.</a>
The deal has been unanimously approved by both Summit and Quikrete&#8217;s Boards of Directors.
The transaction will combine Summit&#8217;s aggregates, cement, and ready-mix concrete businesses with Quikrete&#8217;s concrete and cement-based products, creating a vertically integrated North American construction materials provider with strong customer relationships and iconic products.
The transaction is expected to close in the first half of 2025, pending Summit shareholder approval, regulatory clearances, and other customary closing conditions.
Once completed, Summit will become a privately held subsidiary of Quikrete, and its common stock will no longer be traded on the NYSE.
Anne Noonan, Summit Materials President and Chief Executive Officer, said, &#8220;This combination, and the value it creates, is a testament to our stellar strategic and financial performance, agile operational and commercial execution, and to the strength and talent of our entire team who have delivered a 34.6% annualized return since we began to develop our Elevate strategy on&nbsp;September 1, 2020.&#8221;
Will Magill, Chief Executive Officer of Quikrete, stated, &#8220;This acquisition represents a significant milestone in our journey to expand our capabilities and geographic presence. Summit is a recognized leader with a highly complementary portfolio of trusted aggregate, cement and ready-mix solutions.&#8221;
The company&#8217;s stock has gained over 12% in the past month. Investors can gain exposure to the stock via&nbsp;Professionally Managed Portfolios Congress SMid Growth ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CSMD#NYSE">CSMD</a>) and Invesco Dorsey Wright Basic Materials Momentum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYZ#NASDAQ">PYZ</a>).
Price Action: SUM shares are trading lower by 1.72% at $50.77 at the last check Monday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com//node/42162996" target="_blank" rel="noreferrer noopener">Vertical Aerospace Soars: $50 Million Funding Boost And Debt Conversion Propel eVTOL Maker Forward</a></li>
</ul>
Photo by haneen-krimly for Unsplash.

CSMD

PowerShares Dynamic Basic Materials Sector Portfolio

Summit Materials Scooped Up: Quikrete Strikes $11.5 Billion Deal To Cement Industry Presence

Citigroup analyst Keith Horowitz maintains Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) with a Neutral and raises the price target from $75 to $82.

Citigroup Maintains Neutral on Bank of New York Mellon, Raises Price Target to $82

Quantum Corp Shares Halted On Circuit Breaker To The Upside, Stock Now Up 169.4%

Biotech

General

INCY

Incyte To Present Late-Breaking Tafasitamab Data In Follicular Lymphoma At ASH 2024 Alongside 20 Oncology Portfolio Updates, Including Phase 3 inMIND Results And Virtual Analyst Event On December 12

Citigroup analyst Tyler Radke maintains Elastic (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESTC#NYSE">ESTC</a>) with a Buy and raises the price target from $136 to $150.

Citigroup Maintains Buy on Elastic, Raises Price Target to $150

TD Cowen analyst Charles Ryhee maintains CVS Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) with a Buy and raises the price target from $73 to $80.

TD Cowen Maintains Buy on CVS Health, Raises Price Target to $80

Intelligent Bio Solutions ( ($INBS) ) just unveiled an announcement. Intelligent Bio Solutions Inc. announced the successful completion of in-clini...

Intelligent Bio Solutions Nears FDA Submission with Test Success

The latest announcement is out from Intelligent Bio Solutions ( ($INBS) ). Intelligent Bio Solutions Inc. recently rewarded its top executives with...

Intelligent Bio Solutions Incentivizes Executives with Stock Awards

Intelligent Bio Solutions (INBS) announced that its customer Mount Anvil has celebrated its one-year anniversary of enhanced workplace safety after...

Intelligent Bio celebrates one-year anniversary of Mount Anvil integration

The Company's efforts to maximize recurring revenue from the sale of cartridges used in its Intelligent Fingerprinting Drug Screening System are ex...

Intelligent Bio Solutions reports Q1 preliminary revenue $0.87M

Intelligent Bio Solutions sees Q1 revenue of $0.87M

Intelligent Bio Solutions GAAP EPS of $0.50, revenue of $33.41M

Intelligent Bio Solutions (INBS) announced a strategic partnership with B2i Digital to launch an investor-focused marketing campaign. B2i Digital w...

Intelligent Bio partners with B2i Digital to amplify investor outreach

Intelligent Bio Solutions GAAP EPS of -$0.70, revenue of $0.87M

Intelligent Bio Solutions (INBS) announced strong initial results from its Pharmacokinetic, PK, study required for an FDA 510(k) submission. The da...

Intelligent Bio Solutions announces 'strong initial results' from PK study

Intelligent Bio Solutions ( ($INBS) ) has provided an announcement. Intelligent Bio Solutions Inc. has released the initial results of its Pharmaco...

Intelligent Bio Solutions Announces Study Results and Stock Sale

INBS

Press Releases

Intelligent Bio Solutions Concludes In-Clinic Testing for Clinical Study Plan, Advancing Toward FDA 510(k) Submission

Contracts

GPS Marine Adopts Intelligent Bio Solutions' Fingerprint Drug Testing Technology to Boost Workplace Safety in Maritime Services

Intelligent Bio Solutions Partners with Spirit Group as Australian Distributor, Expanding Community Impact with Intelligent Fingerprinting Drug Testing Solution

Comments

Intelligent Bio Solutions

Notizie

Ultime notizie per Intelligent Bio Solutions (NASDAQ:INBS) Azioni

Le persone guardano anche

Notizie

PARTNER/COLLABORATORE

BENZINGA NEL MONDO