Stock Markets
Benson Hill director resigns, no disagreement cited
ST. LOUIS, MO – Benson Hill, Inc. (NASDAQ:BHIL) announced the departure of J. Stephan Dolezalek from its Board of Directors, effective Sunday. According to the company’s recent SEC filing, Dolezalek’s resignation was not due to any disagreements with the company’s operations, policies, or practices.
Dolezalek, whose contributions to the board were acknowledged by Benson Hill, has not cited a specific reason for his resignation. The company expressed its gratitude for his service and the role he played during his tenure.
Benson Hill, based in St. Louis, operates within the food and kindred products industry and is recognized for its focus on plant-based technology to develop sustainable food solutions.
This update is based on an official statement provided by Benson Hill in a recent SEC filing, ensuring the information is accurate and transparent for stakeholders.
In other recent news, Benson Hill, Inc., a food and kindred products company, has terminated its exclusive agreement with Archer-Daniels-Midland Company (NYSE:) and entered into a new non-exclusive seed supply contract. This new arrangement allows Benson Hill to potentially commercialize and sell certain proprietary high-protein soybean seed varieties.
Furthermore, Benson Hill has initiated a strategic measure by executing a reverse stock split at a 1-for-35 ratio, reducing the total number of outstanding shares from approximately 213 million to around 6 million, while leaving relative voting power and business operations unchanged.
In addition, Benson Hill has been exploring strategic alternatives, including a potential sale, following a preliminary indication of interest from Argonautic Ventures Master SPC and other co-investors. The board of directors at Benson Hill has formed a special committee to review these alternatives, executing a non-binding letter of intent with Argonautic, outlining the terms of a possible acquisition.
These recent developments highlight the company’s ongoing efforts to expand its market reach and diversify its partnerships within the agricultural sector. The termination of its exclusive ADM agreement and the new seed supply contract, combined with the exploration of strategic alternatives and the execution of a reverse stock split, indicate a significant shift in Benson Hill’s business strategy.
InvestingPro Insights
As Benson Hill, Inc. (NASDAQ:BHIL) navigates this change in its board composition, InvestingPro data provides additional context to the company’s financial situation. Despite a significant revenue growth of 55.33% in the last twelve months as of Q2 2024, the company faces several challenges. InvestingPro Tips highlight that Benson Hill operates with a significant debt burden and may have trouble making interest payments on its debt. This financial strain is further evidenced by the company’s negative operating income of -$65.52 million over the same period.
The company’s gross profit margin stands at a low 4.85%, which aligns with the InvestingPro Tip indicating that Benson Hill suffers from weak gross profit margins. This could be a critical factor as the company strives to improve its financial health in the competitive food technology sector.
On a more positive note, Benson Hill’s stock has shown some resilience with a 13.27% year-to-date price total return. However, investors should be aware that the stock price movements are quite volatile, according to another InvestingPro Tip.
For those interested in a deeper analysis, InvestingPro offers 13 additional tips that could provide valuable insights into Benson Hill’s financial outlook and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
By Chibuike Oguh and Amanda Cooper
NEW YORK/LONDON (Reuters) -Global stocks were lower while U.S. Treasury yields rose on Friday after a stronger-than-expected jobs data reinforced expectations that the Federal Reserve will likely keep interest rates elevated for longer than traders were betting on.
Wall Street’s main indexes were trading lower, with technology, financials, real estate and consumer discretionary stocks driving losses. Energy stocks were trading higher.
The Labor Department data on Friday showed that the U.S. economy created 256,000 jobs in December, beating analyst expectations of 160,000, according to a Reuters poll of economists.
“This one of those classic good-news-is-bad-news types of data point,” said James St. Aubin, chief investment officer at Ocean Park Asset Management in Santa Monica, California. “When I think about the economic data that’s good for growth, but it certainly weighs on the yield picture and kind of puts a bit of a bind when it comes to lowering rates. And I think the market is trying to sort that out.”
Markets are now pricing in a single Fed rate cut no sooner than June. Prior to the jobs report, traders were expecting the Fed to cut rates as early as May with a 50% probability of another rate cut before year end, according to CME’s FedWatch tool.
The yield on benchmark U.S. 10-year notes rose 6.6 basis points to 4.747%. It had reached as high as 4.79%, its highest level since November 2023.
The fell 1.69% to 41,916.63, the fell 1.79% to 5,812.30 and the fell 2.13% to 19,064.05.
Shares in small cap companies, which can be more vulnerable to fluctuations in interest rates, came under the most intense pressure, leaving the down 2.5% on the session.
MSCI’s gauge of stocks across the globe fell 1.59% to 832.14. The pan-European finished down 0.84%, dragged down by utilities, consumer non-cyclical, and real estate stocks.
“Bond yields are climbing today because the ability to cut further is going to be diminished after today’s report even though I always advise to look at January numbers with a grain of salt given seasonality issues that work itself out in the next couple of months,” St. Aubin added.
Government bond yields have jumped higher this week amid a broad market selloff that pushed long-dated borrowing costs to multi-year highs.
The turmoil in the fixed income market has hit UK government bonds particularly hard, pushing 30-year gilt yields to their highest since 1998, as investors grow increasingly worried about Britain’s finances.
The , which measures the greenback against a basket of currencies including the yen and the euro,rose 0.45% to 109.69. It reached as high as 109.97, its highest level since November 2022.
The euro was down 0.59% at $1.0237, dropping to its lowest level since November 2022 on the session. The pound fell for a fourth day, dropping by as much as 0.91% to $1.2189, its lowest since November 2023. It last traded down 0.76% at $1.221.
Oil prices rallied nearly 3% to their highest in three months, as traders braced for supply disruptions from the broad U.S. sanctions package targeting Russian oil and gas revenue.[O/R]
futures were up 3.4% to $79.55 a barrel, after its highest since October. U.S. West Texas Intermediate crude futures advanced 3.29% to $76.35, also a three-month high.
Gold prices rose and were on track for the fourth straight day of gains. rose 0.98% to $2,696.33 an ounce. U.S. rose 0.98% to $2,710.00 an ounce.
LONDON – RBG Holdings plc (AIM: RBGP), a prominent legal services group, has entered into an exclusive negotiation period with its founder, Mr. Ian Rosenblatt, and associated parties for the potential sale of its ‘Rosenblatt’ branded business and certain assets. The talks, initiated on Tuesday, are set to advance a sale to Rosenblatt Law Limited (formerly AWH Acquisition Corp Corporate Limited).
The exclusive period, effective from today until January 24, 2025, aims to facilitate a swift and cooperative discussion regarding the disposal of the business. During this time, both parties have agreed to operate in good faith, abstain from legal actions against one another, and withdraw any ongoing or pending disputes. This includes a winding-up petition issued by Mr. Rosenblatt on January 7 and a general meeting requisition notice dated December 23, 2024.
Mr. Rosenblatt, a significant shareholder in RBG Holdings, has provided evidence of his ownership of Rosenblatt Law Limited since December 19, 2024. Any terms of the potential disposal will be subject to the AIM Rule 13, which pertains to transactions with related parties.
RBG Holdings plans to provide further updates after the discussions have progressed. The company, which includes subsidiaries RBG Legal Services Limited and RBL Law Limited, has been a fixture in the legal services market, with Rosenblatt established in 1989 and Memery Crystal in 1979.
The information about this exclusive negotiation period is based on a press release statement from RBG Holdings plc.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Radcom Ltd . (NASDAQ:) shares have surged to a 52-week high, reaching a price level of $12.94, as investors rally behind the company’s strong performance. According to InvestingPro data, the company maintains an impressive “GREAT” financial health score of 3.38, with a robust current ratio of 4.18 indicating strong liquidity. This peak represents a significant milestone for the network software provider, reflecting a robust year-over-year growth of 17.8% in revenue. Over the past year, Radcom’s stock has witnessed an impressive 65.37% increase, underscoring the company’s expanding market presence and investor confidence in its strategic direction. The 52-week high serves as a testament to Radcom’s potential in the competitive tech landscape, as the company continues to innovate and capture market share. InvestingPro subscribers have access to 12 additional key insights about RDCM, including detailed valuation metrics and growth forecasts, essential for making informed investment decisions.
In other recent news, RADCOM Ltd. reported a record revenue of $15.8 million in its third quarter of 2024, a notable 20% increase from the same period last year. The company also announced the appointment of Benny Eppstein as the new CEO, effective December 1st. This growth in revenue is attributed to the strong demand for RADCOM’s cloud-based assurance solutions, particularly in North America and Europe. The company has also raised its full-year 2024 revenue guidance to between $59 million and $62 million, along with a significant increase in profitability, reporting a non-GAAP net income of $3.7 million.
In addition to these financial highlights, RADCOM secured a multi-year contract with a North American operator and anticipates growth in Voice over New Radio (VoNR) technologies by 2025. The company is optimistic about maintaining growth and profitability, with a significant portion of revenue coming from multi-year contracts. RADCOM’s strategy for growth includes investments in AI and analytics to strengthen its market position in cloud assurance. The company is also expecting to capitalize on 5G advancements and VoNR deployments anticipated in 2025.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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