Latest news with #CantorFitzgerald
Yahoo
20 hours ago
- Business
- Yahoo
Why Are Supernus Pharmaceuticals (SUPN) Shares Soaring Today
What Happened? Shares of specialty pharmaceutical company Supernus Pharmaceuticals (NASDAQ:SUPN) jumped 14.4% in the afternoon session after the company posted strong second-quarter earnings that beat expectations and raised its full-year revenue forecast. The pharmaceutical company reported revenues of $165.5 million, which surpassed analysts' projections, while its earnings per share of $0.40 also beat consensus estimates. Investors reacted positively to the growth in key products, as net sales for Qelbree and GOCOVRI increased by 31% and 16% respectively, compared to the prior year. Bolstering investor confidence, Supernus lifted its full-year revenue guidance, pointing to a strong first-half performance. The company also completed the acquisition of Sage Therapeutics and launched a new device for Parkinson's disease, which further supported the positive sentiment. Is now the time to buy Supernus Pharmaceuticals? Access our full analysis report here, it's free. What Is The Market Telling Us Supernus Pharmaceuticals's shares are not very volatile and have only had 6 moves greater than 5% over the last year. Moves this big are rare for Supernus Pharmaceuticals and indicate this news significantly impacted the market's perception of the business. The previous big move we wrote about was 7 days ago when the stock gained 3.1% on the news that Cantor Fitzgerald upgraded the stock to Overweight from Neutral and raised its price target to $42 from $36. The upgrade followed positive developments in the company's planned acquisition of Sage Therapeutics. Supernus announced that the waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act for the deal had expired. The expiration of this period, a requirement for major mergers and acquisitions in the U.S., removed a key regulatory hurdle, allowing the transaction to proceed. The tender offer for Sage shares was set to expire on July 30, 2025, after which Supernus planned to complete the merger. This acquisition was expected to enhance Supernus's product portfolio with Sage's innovative treatments, a move that likely bolstered analyst confidence. Supernus Pharmaceuticals is up 17.7% since the beginning of the year, and at $42.89 per share, has set a new 52-week high. Investors who bought $1,000 worth of Supernus Pharmaceuticals's shares 5 years ago would now be looking at an investment worth $1,850. Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.
Daily Mail
a day ago
- Business
- Daily Mail
Howard Lutnick under fire as his billion-dollar firm quietly cashed in on shady cryptocurrency before Trump named him commerce secretary
Howard Lutnick, the billionaire Commerce Secretary under President Trump who has been accused by MAGA insiders of being his 'handler', has drawn scrutiny not just for his powerful role in government, but for his history of appearing at the center of some of America's most controversial chapters. Some have even likened him to a real-life Zelig, after the Woody Allen film, inexplicably present at moments ranging from 9/11 to the Jeffrey Epstein scandal. Now, critics say he's profiting once again, this time through a murky cryptocurrency deal with his company, Cantor Fitzgerald, that lost 658 employees in the 9/11 World Trade Center attacks. His firm quietly acquired a major stake in Tether, a controversial digital currency, in the months before Lutnick joined the Trump administration. Tether, which is based in El Salvador, is allegedly - according to federal prosecutors -tied to an array of illicit activity - reportedly helping fund everything from North Korea 's nuclear weapons program to Mexican drug cartels, Russian arms dealers, Middle Eastern terror networks and Chinese fentanyl traffickers. Tether's current CEO, Paolo Ardoino has consistently denied that Tether is involved in illicit activities, calling such reports 'wholly inaccurate' and 'wildly misleading.' Last January, Senator Elizabeth Warren (D-Mass,) sent a letter to Lutnick prior to his confirmation hearing citing her 'serious concern' over his 'deep involvement with and support for Tether, a known facilitator of criminal activity.' Warren called Tether 'the outlaws' favorite currency' and said that even though Lutnick had promised to divest himself of all interests in Cantor Fitzgerald that his personal and family ties still raise the potential for a conflict of interest. Between November 2023 and November 2024, Cantor Fitzgerald invested $600 million in Tether, approximately 5 percent, in exchange for a contract to manage its US Treasury reserves, earning substantial fees. Lutnick has already been referred to as the 'handler' of Trump by peeved MAGA devotees who were outraged by his backing of Trump's response to the messy rollout of the Epstein files Before and after his appointment as Commerce Secretary, Lutnick advocated for the Genius Act, which passed into law July 18 and regulates and legitimizes stablecoins, of which Tether is the largest and most powerful. Unlike other cryptocurrencies, a stablecoin is a digital version of the dollar that maintains a stable price where one coin equals one US dollar. This means Cantor Fitzgerald will make even more billions, through fees, as a result of the prescient deal, they made to manage those treasuries. 'Cantor Fitzgerald is the biggest beneficiary of the Genius Act,' Aaron Day, an author and fellow at the Brownstone Institute, told the Daily Mail. 'Does Pelosi's insider trading or Hunter Biden's Ukraine oil role seem corrupt? How about steering $27 trillion in yearly stablecoin transactions to benefit the Commerce Secretary's firm? 'Lutnick came out of nowhere with no political experience to run Trump's transition team, and while he was angling for Treasury Secretary, he got Commerce. Then he talked up Tether and pushed for the Genius Act.' 'This guy's firm is now managing all the actual US dollars and treasuries that back the most popular digital dollar. 'He has significant control over our money supply. A lot of people don't understand this stuff, which is part of the game - but it's dangerous and Lutnick is a dangerous guy.' Though Lutnick nominally divested himself of his holdings in Cantor Fitzgerald earlier this year after joining the Trump Administration, the firm is now run by his sons, Brandon, 27, the chairman, and Kyle, 28, the executive vice chairman. Both young men went to the elite Horace Mann school in the Riverdale section of the Bronx and Stanford University. Kyle has been a DJ and rapped under the name Kxtz. The brothers have already been criticized for allowing Cantor Fitzgerald investors to bet that Trump's much-ballyhooed tariffs - talked up by Lutnick as much as Trump - will eventually be shot down in court. When Daily Mail reached out for comment, a spokesman for Lutnick at the Commerce Dept. emailed a statement saying that 'Secretary Lutnick has fully complied with the terms of his ethics agreement with respect to divestiture and recusals and will continue to do so.' Lutnick's team declined further comment, pointing only to a recent Wall Street Journal story claiming that Tether was 'the big loser' in the passage of the Genius Act because it now has to clean up its act and be more transparent. Aaron Day and others say that the article does not outline how Cantor Fitzgerald will ultimately benefit from the new government oversight. 'Lutnick had the foresight to invest in Tether in exchange for being able to manage the treasuries on behalf of Tether even before the government by the Genius Act required that stablecoins be backed only by treasuries,' Day said. 'All the hoops that Tether now has to go through will only benefit Lutnick.' A former Wall Street executive familiar with Cantor Fitzgerald agreed, saying: 'Lutnick's the kind of operator who plays the long game with a smile and a dagger,' she told the Daily Mail. 'He's been dining out on Cantor Fitzgerald's 9/11 tragedy for years, using that goodwill to slip deeper into Washington while quietly building an empire. 'Now he's managed to turn a private crypto play into a government-sanctioned money machine for his own firm - handing the keys to his sons while pretending he's out of the game. It's not innovation - it's infiltration.' 'The Genius Act may have clipped Tether's wings, but it boosted the entire regulated stablecoin market - which Cantor Fitzgerald now controls from the inside.' Tether co-founder Brock Pierce told Daily Mail that Lutnick's buy-in showed 'good timing,' but denied he was behind the Genius Act's passage - despite the law paving the way for billions in fees for Cantor Fitzgerald through its role managing Tether's Treasury assets Brock Pierce, the co-founder of Tether, admitted to the Daily Mail that Lutnick 'exhibited good timing' with Cantor Fitzgerald's decision to buy a stake in the stablecoin but said he disagreed with reports that Lutnick was a big reason why the Genius Act passed. 'Cantor Fitzgerald got a good deal and it was well-timed,' Pierce said. 'It's a sign that Howard was shrewd, but it was Congress who passed the Genius Act, not him.' Lutnick, 64, has come under attack by both liberals and conservatives in recent months. The brash, high-energy Long Island native and one-time donor to Hillary Clinton's presidential campaign was standing prominently by Trump's side on July 15 when the president was hammered with questions about releasing the Epstein files. Trump called the Epstein files 'fake news' and dissed his MAGA supporters as 'weaklings' for pressing him on it. They, in turn, angrily called Lutnick his 'handler.' Critics have slammed him for what's been called his aggressive and chaotic tariff policies, conflicts of interest, media blunders and for suggesting that some Social Security recipients are 'fraudsters.' Lutnick has said that Trump's tariffs wouldn't bring on a recession but added that if they did cause a recession, it would be 'worth it.' He also claimed that only 'fraudsters' would be concerned about the possibility of missing their Social Security checks - citing his 94-year-old mother-in-law, who he said would never 'call and complain' if her check didn't arrive. MAGA operative Steve Bannon has called Lutnick an 'unmitigated disaster' who should be yanked from making public appearances because his 'messaging' - especially about tariffs - is so off. 'I don't know why Lutnick's still doing media. Let me be blunt,' Bannon said in April. 'I think he's close to being an unmitigated disaster. We should see a lot less of Lutnick on TV. We have to have a clear message, so people understand what the process is.' Billionaire Mark Cuban asked if Lutnick 'has done anything of value as Commerce Secretary?' while New York Times columnist Paul Krugman said he 'crawled out of a special kind of sewer' and Martin O'Malley, the former governor of Maryland and former Social Security Administration Commissioner said Lutnick was 'appalling.' None of the bad press seems to bother Lutnick, but that may be because he's used to being in the eye of the storm. Lutnick was one of the fortunate few, along with his older sister Edie Lutnick and Larry Silverstein, owner of the World Trade Center complex, who hadn't arrived at work at the Twin Towers on September 11, 2001. At the time, Lutnick was the chairman of Cantor Fitzgerald, whose offices were on the 101st to 105th floors of the North Tower. Lutnick, who had joined the firm as a lowly broker in 1983, rose to take over from co-founder Bernie Cantor in 1996 after a contentious succession fight. He was not yet work on September 11 because he had to take his young son, Kyle, to his first day of kindergarten at the Horace Mann School in the Bronx. Edie (left) and Lutnick had not been at work during the 9/11 attacks - he had taken Kyle to his first day of kindergarten at Horace Mann in the Bronx Cantor Fitzgerald lost 658 employees that day, including Lutnick's trader brother, Gary. Howard rebuilt the company - but not without controversy. Four days after the jets hit the towers, Lutnick stopped paychecks to nearly 700 employees - many of whom at that time were still missing. 'I was disgusted, you know?' Anne Wodenshek, a mother of five children who lost her husband on September 11, said at the time. 'Because I didn't accept that he was dead at that point, you know? He was missing. You know, you don't have to be so brutal. They can give us at least two weeks to grieve without having to think that our husbands were gone.' When Trump announced Lutnick's hiring as Commerce Secretary on November 24, 2024, he described Lutnick as a 'beacon of hope to those who remained' after the World Trade Center catastrophe and said he was 'an inspiration to the world - the embodiment of resilience in the face of unspeakable tragedy.' Iris Cantor, Bernie Cantor's widow, held a very different opinion of the man she sued at least 10 times. She first filed suit against him in 1996, alleging that he had 'usurped control' of Cantor Fitzgerald when her husband was ill and followed up with various claims accusing him of shady business practices at the company she still held an interest in. Cantor, who now lives in Westchester County, said she couldn't comment and hung up when reached by the Daily Mail this week. Lutnick also faced public backlash after he halted paychecks to 700 employees in the days after the 9/11 attacks, even as many remained missing in the World Trade Center wreckage But an old friend of hers from the Upper East Side of Manhattan recalled a dinner the two had at the Doubles Club at the Sherry Netherland Hotel in 2014. 'Iris went off on what a horrible con artist Lutnick was,' the friend recalled. 'She called him a swindler and said he didn't honor any of his agreements. 'She said her husband had brought him into the company and then he just took it over. I was really struck by the fury in the voice of this exquisite woman when she talked about him.' So far, however, Lutnick has escaped being dragged into the Jeffrey Epstein mess - despite sharing a townhouse wall with Epstein for two decades until Epstein's death in July 2019. Lutnick bought the townhouse next to Epstein at 11 East 71st Street in 1998 from the Comet Trust, which had acquired it in 1996 from a trust where Epstein was the trustee. The property was originally owned by an entity called the SAM Conversion Corporation, which was associated with Epstein and billionaire Les Wexner. Wexner, who owns Victoria's Secret, hired Epstein as his financial manager in the late 1980s and gave him power of attorney over a number of his assets, including the Straus House at 9 East 71st Street, which became Epstein's Manhattan headquarters. The Department of Commerce, when asked last month about Lutnick's relationship with Epstein, said the two 'had no personal relationship, contact or direct dealings.'
Yahoo
2 days ago
- Business
- Yahoo
Cantor Fitzgerald Raises Oracle (ORCL) Price Target, Keeps Overweight Rating
Oracle Corporation (NYSE:ORCL) is one of the 12 Best Performing AI Stocks So Far in 2025. On July 17, Cantor Fitzgerald raised its price target on Oracle Corporation (NYSE:ORCL) from $216 to $271 while keeping an Overweight rating. Cantor Fitzgerald raised its estimates for Oracle Cloud Infrastructure (OCI), Cloud Database Services (CDBS), and Multicloud CDBS. The firm's new estimates surpass the consensus estimates for fiscal years 2027 through 2029. Pixabay/Public Domain The research firm highlighted Oracle Corporation's (NYSE:ORCL) June 30, 2025, 8K filing, which showed multicloud CDBS revenue is growing over 100%. Cantor Fitzgerald forecasts this growth for fiscal 2025 to exceed 500%. However, this segment represents less than 0.5% of Oracle Corporation's (NYSE:ORCL) total revenue. Cantor Fitzgerald expects core OCI Infrastructure-as-a-Service revenues, excluding the implied CDBS forecast, to rise from 56% growth to 85% growth in fiscal 2026. The firm also kept its adjusted OCI estimates 5-6% higher than consensus estimates for fiscal years 2028 and 2029. The firm justified the new price target due to the strong momentum in core OCI and the potential for further positive updates to its OCI estimates, which are already above consensus estimates. Oracle Corporation (NYSE:ORCL) is an American multinational computer technology company specializing in database software, cloud infrastructure, and enterprise software solutions. The company offers one of the industry's broadest and deepest suites of AI-powered cloud applications. While we acknowledge the potential of ORCL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 12 Best Performing Stocks in the Last 6 Months and 12 Most Owned Stocks by Hedge Funds So Far in 2025. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
3 days ago
- Business
- Yahoo
Cantor Fitzgerald Raises Oracle (ORCL) Price Target, Keeps Overweight Rating
Oracle Corporation (NYSE:ORCL) is one of the 12 Best Performing AI Stocks So Far in 2025. On July 17, Cantor Fitzgerald raised its price target on Oracle Corporation (NYSE:ORCL) from $216 to $271 while keeping an Overweight rating. Cantor Fitzgerald raised its estimates for Oracle Cloud Infrastructure (OCI), Cloud Database Services (CDBS), and Multicloud CDBS. The firm's new estimates surpass the consensus estimates for fiscal years 2027 through 2029. Pixabay/Public Domain The research firm highlighted Oracle Corporation's (NYSE:ORCL) June 30, 2025, 8K filing, which showed multicloud CDBS revenue is growing over 100%. Cantor Fitzgerald forecasts this growth for fiscal 2025 to exceed 500%. However, this segment represents less than 0.5% of Oracle Corporation's (NYSE:ORCL) total revenue. Cantor Fitzgerald expects core OCI Infrastructure-as-a-Service revenues, excluding the implied CDBS forecast, to rise from 56% growth to 85% growth in fiscal 2026. The firm also kept its adjusted OCI estimates 5-6% higher than consensus estimates for fiscal years 2028 and 2029. The firm justified the new price target due to the strong momentum in core OCI and the potential for further positive updates to its OCI estimates, which are already above consensus estimates. Oracle Corporation (NYSE:ORCL) is an American multinational computer technology company specializing in database software, cloud infrastructure, and enterprise software solutions. The company offers one of the industry's broadest and deepest suites of AI-powered cloud applications. While we acknowledge the potential of ORCL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 12 Best Performing Stocks in the Last 6 Months and 12 Most Owned Stocks by Hedge Funds So Far in 2025. Disclosure: None. This article is originally published at Insider Monkey. Error 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
5 days ago
- Business
- Yahoo
Cantor Fitzgerald Reiterates Overweight Rating on Tenable Holdings, Maintains PT at $42
Tenable Holdings, Inc. (NASDAQ:TENB) is one of the Best Cybersecurity Stocks to Buy Under $100. On July 24, Cantor Fitzgerald reiterated its Overweight rating on Tenable Holdings, Inc. (NASDAQ:TENB), maintaining its price target at $42. Cantor Fitzgerald analyst Jonathan Ruykhaver kept his overweight rating on TENB ahead of the company's Q2 2025 earnings. The analyst sees Tenable as a value play with potential upside driven by its One Platform, strategic mergers and acquisitions, and rising demand for its cloud security offering. The company has reduced its FY2025 billings and revenue guidance following its Q1 results due to concerns around government spending and macroeconomic pressures. The fact that the company hasn't signed any deal cancellations, Ruykhaver believes that Tenable is setting conservative benchmarks that it can exceed throughout the year. A close-up of a computer monitor showing a dynamic network of cyber security components. The company has a notable gross profit margin of 79% and has achieved 11.8% revenue growth over the last twelve months. Moreover, the company has a strong federal presence, with almost 15% of revenue coming from the public sector. Analysts expect Tenable to post an average earnings of $0.30 per share during Q2, in line with EPS a year ago. Despite the weak indicators, the firm maintains its strong presence in the industry. Tenable Holdings, Inc. (NASDAQ:TENB) is an exposure management company that offers security visibility, insight, and action. It exposes and closes the cybersecurity gaps for organizations. Its exposure management tools can be deployed across on-premises, hybrid, and cloud environments. The tools assess cyber threats from third-party data sources that are part of the company's IT stack. While we acknowledge the potential of TENB as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
