Democrats ‘need to move on' from the Biden years: Ben Domenech
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Yahoo
8 minutes ago
- Yahoo
Trending tickers: latest investor updates on Intel, Tilray, monday.com, Equillium and AMC
Intel (INTC) Shares in the chipmaker were higher in pre-market trading as US president Donald Trump signalled he was open to working with Intel (INTC) boss Lip-Bu Tan to explore how the US government could help the company. This was a softening of his previous stance that the tech executive should quit his job. In a post to Trump-affiliated social media network Truth Social, the president said that Tan's 'success and rise is an amazing story', a sharp contrast to a post he made on Thursday calling Tan 'highly CONFLICTED' and calling on the CEO to 'resign, immediately". In the latest post, Trump said his meeting with Tan, commerce secretary Howard Lutnick and treasury secretary Scott Bessent 'was a very interesting one". Tan and members of the Trump cabinet 'are going to spend time together, and bring suggestions to me during the next week", the president wrote. Intel (INTC) also released a statement acknowledging that the two met and saying they had "a candid and constructive discussion on Intel's commitment to strengthening US technology and manufacturing leadership". Tilray Brands (TLRY) Shares in cannabis company Tilray Brands (TLRY) surged by 14% ahead of the US opening bell, after soaring by 41% on Monday's session after reports that Trump is contemplating reclassifying marijuana, a move that could significantly impact the industry. According to the Wall Street Journal, Trump last week told attendees at a fundraising dinner that he was interested in reclassifying the drug. While cannabis is fully legal, including for recreational use, in 24 US states, the use and possession of the drug is illegal at the federal level. Cannabis is currently classified as a Schedule I drug in the US, putting it in the same category as heroin, LSD and ecstasy. Speaking to reporters at the White House on Monday, Trump said he would make a determination on the legal classification of the drug over the next few weeks. Read more: Mag 7 stocks deliver earnings beats but results get mixed market response "We're looking at reclassification and we'll make a determination over the next —. I would say over the next few weeks, and that determination hopefully will be the right one. It's very complicated subject," Trump said. The reclassification, specifically moving marijuana to a Schedule III drug classification, would ease federal restrictions and potentially make the multibillion-dollar cannabis industry more profitable. This is because it would allow cannabis companies to take normal business tax deductions, a benefit they are currently denied under the existing tax code. (MNDY) Shares in didn't have a good Monday, plunging nearly 30% during the session. However, they managed a slight recovery in pre-market trading, ticking up 2.6%. The software maker reported second-quarter earnings and revenue that topped Wall Street consensus estimates. The main concern for investors was the company's third-quarter revenue guidance of $311m to $313m (£231m to £236m). The midpoint of this range fell just short of Wall Street's forecast and signalled a potential slowdown in growth. This overshadowed the company's revenue and profit beats in the second quarter. For the quarter ending on 30 June, the maker of project management software reported a profit of $1.09 a share on an adjusted basis, up 16% from a year earlier. Revenue rose 27% to $299m. Equillium (EQ) Shares in the biotechnology company surged by 78% on Monday and were still trending ahead of the US opening bell as it secured $50m to advance new drug trials. Equillium (EQ) secured a private placement from a group including ADAR1 Capital Management and Janus Henderson Investors, raising essential funding for its drug pipeline. The deal's first tranche brings in $30m for about 52.6 million shares or pre-funded warrants, with another $20m on the table if development milestones are reached. This cash injection will allow Equillium to launch clinical trials of EQ50, a novel treatment for ulcerative colitis and pouchitis, by mid-2026. 'We're delighted to have the support of such a strong syndicate of top-tier biotech investors who share our vision for advancing transformative therapies for patients,' said CEO Bruce Steel. 'This funding marks a significant milestone for Equillium, enabling us to accelerate the clinical development of EQ504 into a Phase 1 proof-of-mechanism study in mid-2026, with data expected to follow approximately six months thereafter.' At under $1, the company has featured in most promising penny stocks to consider list of several analysts. AMC (AMC) Shares in US cinema chain AMC (AMC) were in the red in pre-market trading, despite surpassing Wall Street estimates for second-quarter revenue. The operator on Monday reported a loss of $4.7m, or 1 cent a share, compared with a loss of $32.8m, or 10 cents a share, a year earlier. On an adjusted basis, AMC (AMC) broke even, beating analyst expectations for a 7-cent loss, according to FactSet. Adjusted earnings per share came in at break-even on revenue of $1.4bn, beating expectations for a loss per share of 7 cents on revenue of $1.3bn "Clearly, moviegoing guests prefer to see their favourite films in the most immersive, most spectacular formats possible," CEO Adam Aron said. "Our premium auditoriums are operating at close to three times the occupancy of a regular auditorium and command a healthy price premium to boot." Attendance grew 26% to 62.8 million, with US moviegoers making up nearly three-quarters of the total. Admissions revenue per patron topped $12 for the first time, and food and beverage sales per guest jumped to a record $7.95, Aron 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
Yahoo
14 minutes ago
- Yahoo
Abbott threatens to remove 10 Democratic districts from Texas
Aug. 12 (UPI) -- Gov. Greg Abbott has threatened to remove 10 Democratic districts from Texas if California makes good on its threat to remove five Republican districts from its maps, the latest salvo in the deepening fight between the two states over the Lone Star State's redistricting efforts. "If California tries to gerrymander five more districts; listen, Texas has the ability to eliminate 10 Democrats in our state," the Republican governor told CNN's Jake Tapper in an interview Monday. "We can play that game more than they can, because they have fewer Republican districts in their state." The threat comes as Texas state Democrats have fled their home state to Democratic strongholds such as Illinois and other states to prevent Republicans from passing controversial redistricting maps that give the GOP five more seats in the U.S. House of Representatives. Critics have accused Abbott and Texas Republicans of conducting a power grab, seeking to redraw districts now as opposed to at the end of the decade, when it is traditionally done, in order to try to give President Donald Trump and the Republican Party an additional five seats in the House ahead of next year's midterms. Texas Democrats fled the state earlier this month in opposition, denying their Republican colleagues a quorum, meaning the minimum number of lawmakers necessary to pass legislation. The GOP's redistricting efforts in Texas have angered Democrats throughout the country, with Gov. Gavin Newsom responding that he will redraw California's maps to produce five more Democratic seats in the House to neutralize Abbott's move. Texas has 25 Republicans and 12 Democrats in the House of Representatives. California has nine GOP legislators and 43 Democrats.
Yahoo
39 minutes ago
- Yahoo
Editorial: Mamdani's shifts aren't believable — ‘Changed' views on cops and Israel are hollow
Zohran Mamdani's sudden 180-degree turn on defunding the police, from supporting the foolish concept to opposing it, coincides with his political necessity and rank opportunism as he tries to be elected mayor. At least the old anti-cop Mamdani was consistent, if wrong. And it's not the only area where the Democratic mayoral nominee and frontrunner for November has shed his past, just like Mamdani now says he'll discourage use of 'Globalize the Intifada,' a change of heart he came to after he talked to a woman about what the phase meant to her. That's good, if it's to be believed. Likewise, Mamdani told of his new stand on cops after meeting with the family of the police officer slain on Park Ave., Detective First Grade Didarul Islam. That's good, if it's to be believed. We're not buying it. Mamdani is trying to redefine himself to appeal to a wider audience in the general election and spinning it as if he all of a sudden learned something new from these conversations. New Yorkers should also be more than skeptical. Part of Mamdani's appeal to those who voted for the democratic socialist in June beyond the folks who were sold on his pledges of free buses and free child care and rent freezes was his authenticity. In the primary he stood for clear, long-held principles. We thought that he's someone who harbored dangerous views on public safety and Israel and unworkable solutions on the city's budget and urged Democratic voters not to choose him. But now he's someone who is trying to cover up his dangerous and unworkable views. With the old Mamdani you knew what you were getting. How many more conversions will Mamdani have over the next few months that will produce conversions of his stands? And should he prevail over a splintered field of Eric Adams, Andrew Cuomo and Curtis Sliwa this fall and win, who will be the man who becomes mayor on Jan. 1? Which Mamdani will be taking over at City Hall? 'Defund the police' was a popular slogan five years ago in many quarters in the aftermath of the killing of George Floyd and Mamdani was right there in the middle. Now, with crime a major concern of New Yorkers (and thankfully the NYPD is successfully driving down the numbers), support for the cops is seen as a political plus and Mamdani is saying he is supposedly backtracking, offering up a version of 'different time, different place.' But he is not a different person. Mamdani still wants to create a proposed Department of Community Safety, which would hollow out the ranks and budget of the NYPD by setting up a rival agency. To us, that still sounds like a version of 'defund the police.' As for 'Globalize the Intifada,' which to many (including not a few Mamdani supporters) means murderous attacks on Jews everywhere, a global pogrom, Mamdani will encourage people to use other words, perhaps 'From the River to the Sea,' calling for the eradication of the Jewish state. Is a list of phrases about the Mideast now going to be needed for the potential mayor to weigh in on? Clearly, his deep-set animosity to the existence of the state of Israel, including backing the antisemitic Boycott, Divestment, and Sanctions (BDS) movement, isn't changing. Promising more cops to protect New York Jews from being attacked is a poor substitute when the mayor is ratcheting up the rhetoric and the hate. There are three months to go until Election Day. How else will the new Mamdani attempt to distance himself from the old Mamdani? _____
