Perion Network: Q1 Earnings Snapshot
TEL AVIV, Israel — TEL AVIV, Israel — Perion Network Ltd. (PERI) on Tuesday reported a loss of $8.3 million in its first quarter.
The Tel Aviv, Israel-based company said it had a loss of 19 cents per share. Earnings, adjusted for one-time gains and costs, came to 11 cents per share.
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Atlantic
an hour ago
- Atlantic
Why Israel Should Learn to Love the Coming Iran Deal
Having once described Donald Trump as Israel's 'greatest friend ever,' Benjamin Netanyahu must be watching with some consternation as the American president enthusiastically pursues a nuclear deal with Iran. After all, the Israeli prime minister made every effort to stop the Obama administration's Iran deal in 2015. Trump exited that deal in 2018, perhaps partially at Netanyahu's urging. And now Trump is pursuing a deal of his own—his administration has even dropped a number of Iran hawks from its ranks, in what one pro-Israel D.C. outlet described as a 'purge.' But Israel's leaders shouldn't fear the coming Iran deal. They may even find reasons to welcome it: Among a host of bad options for curbing Iran's nuclear program and pacifying a volatile region, a nuclear agreement between Trump and Supreme Leader Ayatollah Ali Khamenei could be the least bad option for Israel too. No such deal has happened yet—and none will until the two sides can reach an accord about whether Iran should maintain a capacity to enrich uranium on its own soil. The U.S., together with Israel, has strongly objected to any such prospect. 'WE WILL NOT ALLOW ANY ENRICHMENT OF URANIUM!' Trump wrote on Truth Social on June 2. The Iranians insist on it—and, for their part, are playing a game of reverse psychology: 'This Guy Has No Will for a Deal,' read a headline in the semiofficial Tehran Times on June 7, referencing Trump. But both sides have compelling reasons to want these talks to come to something. The Trump administration, stymied in Ukraine and Gaza, could use a foreign-policy win, and the Iranian regime, having lost its regional proxy power, would prefer to avoid military strikes on its nuclear facilities and to see some sanctions lifted. Steven Witkoff, the Trump administration's top negotiator, has proffered a plan that reportedly suggests outsourcing Iran's uranium enrichment to a regional consortium. The enrichment would be for civilian purposes, and the consortium would include Saudi Arabia, the United Arab Emirates, and possibly Qatar and Turkey. The idea is to remove the technical capacity from Iranian hands and internationalize the process. Whether this consortium would do its work on Iranian soil or elsewhere, however, is not clear. And as Richard Nephew, an American diplomat who helped negotiate the 2015 nuclear deal, told me, this is the nub of the issue—'centrifuges in Iran'—in relation to which 'a consortium is window-dressing.' Mostafa Najafi, a Tehran-based expert close to Iran's security establishment, told me that Iran has 'seriously studied' Washington's consortium proposal and could accept it only if at least some enrichment were to be done on Iranian soil. One option might be to use Iran's islands in the Persian Gulf for this purpose, he added. These are part of Iran but geographically close to Saudi Arabia and the UAE, and therefore easier to monitor than the mainland. For Israel, the matter of where the enrichment happens is nonnegotiable. 'Israel would be willing to accept the consortium solution only if it is located outside of Iran, a condition that Iran, of course, will not accept,' Raz Zimmt, the head of the Iran program at Israel's Institute for National Security Studies, told me. 'This is Israel's official stance, and it enjoys near-unanimous support across the Israeli political spectrum.' The reasons for this are understandable: Iran's leaders, unlike many of their counterparts in the region, have never embraced a two-state solution to the Israeli-Palestinian conflict and instead continue to clamor for the destruction of Israel. Just last month, Khamenei called Israel 'a cancerous, dangerous, and deadly tumor that must be removed from the region and it will be.' Israeli leaders are worried that a deal with Iran will not go far enough in disabling it from acting on its animus against Israel. In fact, hard-line Israelis cannot envision a solution to the Iranian nuclear problem that doesn't involve the total dismantlement of its centrifuges and expatriation of its uranium. That's because the means to weaponize are already there. Even those, including Nephew, who advocate for a new deal caution that Iran's enrichment capacity has increased in the seven years since Trump left the 2015 agreement. Iran now has enough enriched uranium that if it sought to weaponize, it could build as many as 10 atomic weapons. Even if it shipped that stockpile elsewhere, the country would still have its advanced centrifuges. With these, experts say, Iran could hold on to just 5 percent of its current stockpile and still be able to enrich enough weapons-grade uranium for a bomb inside of a month, and four bombs' worth in two months. Given this reality, according to Zimmt, the Israeli government believes that it is running out of time to stop Iran from acquiring nuclear weapons. And to this end, he told me, 'Israel clearly prefers no deal over a bad deal,' because without a deal, military strikes become thinkable. Many in Israel see such a confrontation as the best option—even though Iran's nuclear facilities are spread across its territory, and some are buried deep underground, making any military campaign likely to be drawn-out, complicated, and hazardous. The analysts I spoke with did not see much lasting good coming of such an assault. Nephew noted that the setback to Iran's nuclear program would likely be temporary and said that Israel would be 'infinitely better off with a good deal.' Gregory Brew, an analyst with the Eurasia Group, pointed out that Iran's regional proxies have been so weakened that Israel is in a particularly strong position at the moment. A negotiated settlement to the nuclear question could allow Israel to build on its advantage by pursuing closer ties to Arab states. This 'would be a win for Israeli security and the region as a whole,' Brew said. Back in 2015, the Arab states of the Gulf region were leery of a U.S.-Iran nuclear deal. They had poor relations with Iran and worried that an agreement might exclude their interests. Now those relations have softened, and most of the Gulf states are eager for an arrangement that could cool the region's tempers. Their support for diplomacy should be good news for Israel, which already has diplomatic, trade, and military ties with two Gulf countries (the UAE and Bahrain). The Saudis have conditioned normalization on Israel's allowing for a Palestinian state, but their language is pragmatic—Riyadh's overwhelming interest appears to be in economic development, which regional conflict only undermines. A nuclear deal that draws in the Gulf states would undoubtedly serve to better integrate Iran into the region's economy. Some in Israel may balk at this idea, preferring to see Iran isolated. But there is a case to be made that giving Iran a stake in regional peace and stability would do more to de-radicalize its foreign policy than caging it has done. Some in Israel remain skeptical. 'I don't believe that Saudi or Emirati participation in the deal carries any real significance,' Zimmt said. 'It's not something that would reassure Israel, certainly not before normalization with Saudi Arabia, and not even necessarily afterward.' Other Israeli critics of Trump and Witkoff chastise them for mistaking the ideologically driven actors of the Middle East for transactional pragmatists like themselves. Daniel Byman: Trump is making Netanyahu nervous But leaders and peoples—in Riyadh, Abu Dhabi, Damascus, Beirut—have grown tired of wars around religion and ideology, and many are ready to pursue development instead. This explains why Syria's new leaders have embraced Trump and promised not to fight Israel. Iran is not immune to this new regional mood. Iranian elites have reason to fear that the failure of talks will bring about devastating military strikes. But they also have reason to hope that the lifting of sanctions, and even a partial opening for the country's beleaguered economy, will be a boon to some of the moneyed interests close to the regime. Najafi told me that Iran already has a shared interest with Arabs in trying to avoid a confrontation between Israel and Iran: 'Arabs know that any military action by Israel against Iran could destroy their grand developmental projects in the region,' he said. I've talked with Iranian elites for years. Most of them have no interest in Islamism or any other ideology. They send their sons and daughters to study in American and Swiss universities, not to Shiite seminaries in Iraq or Lebanon. Khamenei's zealotry is very unlikely to outlive him in Iran's highest echelons of power. A diplomatic deal, however flawed, will not only curtail Iran's nuclear program but also put the country on a path defined by its economic and pragmatic interests. A more regionally integrated Iran is likely to be much less belligerent, as it will have relations with the Saudis and Emiratis to maintain. The regime will likely be forced to drop many of its revolutionary pretensions, as it already has toward Saudi Arabia: Iran once considered the kingdom illegitimate, but it now goes out of its way to maintain good ties with Riyadh. Although this might sound unthinkable today, ultimately the regime will have to drop its obsession with Israel as well, for the same pragmatic reason that Arab countries have done in the past. The alternative to a deal is an extensive military campaign—most likely, a direct war between Iran and Israel—with unpredictable consequences. The notion that such a confrontation would lead to positive political change in Iran is a fantasy. Just as likely, the regime will hunker down under duress, prolonging its hold on power. This is why even the most pro-Israel figures in the Iranian opposition, such as former Crown Prince Reza Pahlavi, oppose military strikes on Iran. Iran's population harbors very little hostility to Israel. A group of student activists recently tried to organize an anti-Israel rally at the University of Tehran, but only a couple of dozen people joined them, a small fraction of those who have turned out for rallies in Cairo, Amman, or New York City. But a direct war that costs Iranian civilian lives would easily change this. The future of Iran and Israel does not need to lie in hostility. That's why a deal that keeps Iran from going nuclear and avoids military strikes is the least bad option for everyone.
Yahoo
an hour ago
- Yahoo
Chime Prices IPO Above Expected Range
Fintech firm Chime priced its IPO at $27 per share, above the expected range, in the latest sign of a revival in new listings. The online banking startup raised around $700 million in the IPO from the sale of 25.9 million shares, while existing investors sold about 6.1 million shares for nearly $165 million. Shares of companies that listed recently, like USDC stablecoin issuer Circle Internet Group, Israel-based retail trading platform eToro, and space and defense tech firm Voyager Technologies, all surged in their trading firm Chime late Wednesday priced its initial public offering (IPO) at $27 per share, above the expected range, in the latest sign of a revival in new listings. Chime is set to start trading Thursday under the ticker symbol "CHYM." The online banking startup raised around $700 million from the sale of 25.9 million shares, while existing investors sold about 6.1 million shares for nearly $165 million. Last week, Chime said the IPO price was expected to be between $24 and $26 per share. Shares of companies that debuted recently, like USDC stable coin issuer Circle Internet Group (CRCL), Israel-based retail trading platform eToro (ETOR), and space and defense tech firm Voyager Technologies (VOYG), all soared in their first day of trading. In its prospectus last month, Chime reported 2024 revenue of $1.67 billion and a $62.2 million loss from operations. The company noted that it averaged $251 in revenue for each of its 8.6 million active members. Read the original article on Investopedia
Yahoo
2 hours ago
- Yahoo
Oil prices ease but hover near two-month highs as Middle East tensions escalate
Oil prices fell on Thursday morning, easing back after rallying but hovered around their highest point in two months, as investors eyed escalating tensions in the Middle East and a potential disruption to supply. Brent crude futures (BZ=F) fell 0.9% to $68.31 a barrel, at the time of writing, while West Texas Intermediate futures (CL=F) declined 0.9% at $67.56 a barrel. US president Donald Trump said on Wednesday that some of US personnel were being moved out of the Middle East because "it could be a dangerous place to be". This came following reports earlier in the day that the US was preparing a partial evacuation of its embassy in Baghdad, Iraq. CBS News reported that US officials had been told Israel was ready to launch an operation into Iran and that the US anticipated Iran could retaliate on certain American sites in Iraq. Read more: FTSE 100 LIVE: Stocks slump as UK GDP contracts in blow to Rachel Reeves Trump said in an interview with the New York Post, released earlier on Wednesday, that he was "less confident" about getting Iran to agree to halt its nuclear programme. In a press briefing on Wednesday, Iran's defence minister Aziz Nasirzadeh said: "Some officials on the other side threaten conflict if negotiations don't come to fruition. If a conflict is imposed on us ... all US bases are within our reach and we will boldly target them in host countries." Matt Britzman, senior equity analyst at Hargreaves Lansdown, said that oil prices remain near a two-month high "driven by rising US-Iran tensions and fears of supply disruptions. At the same time, optimism about energy demand grew after the US and China reached a trade framework, and US crude stockpiles fell more than expected, signalling strong consumption." Gold prices jumped on Thursday morning, as Middle East tensions buoyed demand for the safe-haven asset. Gold futures (GC=F) surged nearly 1% to $3,376 per ounce at the time of writing, while the spot gold price advanced 0.1% to $3,359.49 per ounce. The precious metal is considered to be a safe haven asset, in acting as a hedge amid political and economic uncertainty. Britzman said: "Gold was another winner, with its safe-haven appeal gaining traction amid rising Middle East tensions and softer US inflation data, which gave a modest boost to expectations for rate cuts." Read more: UK economy shrinks by 0.3% in April Data released on Wednesday showed that the US consumer prices index (CPI) rose by 0.1% month-on-month, which was below April's 0.2% rise and lower than economists' estimates of a 0.2% monthly gain in prices. On an annual basis, CPI rose 2.4% in May, a slight uptick from April's 2.3% gain, which marked the lowest yearly increase since February 2021. Investors were also monitoring the latest trade developments, after Trump said in a social media post on Wednesday afternoon that Washington's deal with China is "DONE, SUBJECT TO FINAL APPROVAL WITH PRESIDENT XI AND ME". The pound rose slightly against the dollar (GBPUSD=X) on Thursday morning, up 0.2% to $1,3571, despite a bigger than expected contraction in UK economic growth. The Office for National Statistics (ONS) said that the UK's gross domestic product (GDP) — the standard measure of an economy's value — shrank by 0.3% in April, which was more than the 0.1% contraction expected by economists. The fall followed growth of 0.2% in March and a 0.7% rise in GDP in the first quarter. This latest economic data comes a day after chancellor Rachel Reeves delivered the UK spending review, sharing details of governmental department budgets for the next few years. Key announcements included a £29bn per year increase in funding for the NHS, while the government's defence budget is set to increase from 2.3% to 2.6% of the country's gross domestic product (GDP) from 2027. Reeves also shared details of a £39bn boost to funding for affordable housing and £15.6bn for transport projects in England's largest city regions outside of London. Stocks: Create your watchlist and portfolio Danni Hewson, head of financial analysis at AJ Bell, said: "It's hard not to look at today's headline fall in economic growth as anything other than inevitable. Company after company had warned the chancellor that the decisions taken during last year's budget would impact business growth and create huge uncertainty about existing staffing levels." "Rachel Reeves has said she is determined to deliver growth, and her spending plans have been given a cautious welcome by business groups up and down the country — but the caution speaks volumes," she said. "Can the government's trade policies and spending plans deliver the promised growth or was the energy demonstrated by the UK economy at the start of the year merely a tease?" In other currency moves, the pound fell 0.4% against the euro (GBPEUR=X), trading at €1.1743 at the time of writing. More broadly, the the FTSE 100 (^FTSE) was little changed, trading at 8,863 points at the time writing. For more details, on broader market movements check our live coverage here. Read more: Bitcoin price dips as markets cool after US-China tariff talks What you need to know about UK's private stock market Pisces UK house prices remain flat as buyer demand and sales steadyError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
