Stock Markets
Gaza ceasefire plan for hostage release awaits Hamas response
© Reuters. Dahlia Cooper hangs a picture of her father-in-law Amiram Cooper, who was kidnapped on the deadly October 7 attack by Palestinian Islamist group Hamas, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in Tel Aviv, Israel,
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By Jonathan Landay, Maya Gebeily, Andrew Mills and Nidal al-Mughrabi
WASHINGTON/BEIRUT/DOHA (Reuters) – Hamas is studying a three-phase Gaza ceasefire plan that would secure the release of most Israeli hostages but does not yet commit Israel to end its war with the Palestinian militant group, according to sources with knowledge of the proposal.
The viability of the plan formulated by U.S., Israeli and Egyptian spy chiefs and Qatar’s prime minister hinges on whether or not Hamas, which rules the enclave, will agree to the first phase without agreeing to a permanent end to the war – thus far a core demand of the group.
“We don’t know and we cannot predict what Hamas’ response will be,” Sheikh Mohammed bin Abdulrahman Al Thani, Qatar’s prime minister, said on Monday.
Hamas told Reuters in a statement on Tuesday the proposal would involve three stages, including the release of hostages held by the group and Palestinian prisoners held in Israel. The statement corroborated some details of the framework provided to Reuters by two sources briefed on the proposal.
Men, children, the elderly and wounded would be released in the first stage, the statement said, and the plan had been sent to Gaza to obtain the opinion of Hamas leaders there. “After that, the Hamas leadership will meet to discuss the paper and express its final opinion on it,” the statement said.
More than 100 Israeli hostages are still held, following the release of a similar number in an earlier truce in November that involved the release of scores of Palestinian prisoners.
Versions of the phased ceasefire framework have been under discussion since late December, but Israel did not sign onto the concept until David Barnea, the Mossad chief, met his U.S. and Egyptian counterparts and Sheikh Mohammed in Paris on Sunday.
Egyptian sources said Qatar, Egypt and Jordan would guarantee that Hamas adheres to any agreement, while the U.S. and France would do the same on the Israeli side. Reuters was unable to establish what assurances the guarantors would be able to offer.
Israeli officials did not immediately respond to Reuters request for comment.
Hamas chief Ismail Haniyeh, who says the group is open to all ideas that will lead to an end to Israel’s Gaza offensive, announced on Tuesday he would visit Cairo to discuss the plan.
WOMEN, CHILDREN, THE ELDERLY
Its first phase would consist of a pause in fighting and the release of elderly, civilian women and children hostages, said a source briefed on the Paris talks and a second source with in-depth knowledge of the talks and their results. Major deliveries of food and medicine to Gaza, facing a ruinous humanitarian crisis, would resume, according to both sources.
The sources differed on how long the first stage ceasefire would last, but two of them said it would be set for at least a month.
The second phase would see the releases of female Israeli soldiers, and another increase in aid deliveries and restoration of utility services to Gaza, and the third phase would see the release of the bodies of deceased Israeli troops in exchange for Palestinian prisoners freed, the two sources said.
The Hamas statement said the second phase would also involve the release of male military recruits.
“Military operations on both sides will stop during the three stages,” it said. The number of Palestinian prisoners to be released is to be left to the negotiation process “at every stage, with the Israeli side preparing to release those with high sentences,” the Hamas statement said.
Both sources said that although Israel has not committed to a permanent ceasefire, the ultimate aim of this phased approach is a fourth phase in which the war would end and Hamas would release male IDF soldiers held captive in exchange for Israel’s release of additional Palestinian prisoners held in jail.
“There is a consensus on the concept of the framework, but critical details of each phase still need to be worked out,” said an official briefed on the negotiations.
If Hamas does agree to the framework proposal it could still take days or weeks to settle logistical details of the ceasefire and the release of hostages and prisoners, the official said.
During the talks preceding the truce in November, the indirect chain of communication between Hamas leaders based in the group’s Gaza tunnels and Israeli officials broke several times because of power outages amid intense fighting, a source briefed on those talks said at that time.
The current behind-the-scenes discussions are proceeding in tandem with a public standoff in which both sides in the conflict appear to want to pressure the other by issuing statements ruling out various potential concessions.
On Tuesday, Prime Minister Benjamin Netanyahu said Israel would not quit Gaza or free thousands of Palestinian prisoners, while Hamas ally Islamic Jihad said it would not engage in any understandings on hostages without ensuring a comprehensive ceasefire and withdrawal of Israeli forces from Gaza.
A far-right partner in Netanyahu’s coalition, Itamar Ben-Gvir, threatened on Tuesday to quit the government over any attempt to enter a “reckless” deal with Hamas on the hostages.
‘WHAT REALLY MATTERS’
It was not immediately clear whether such public positioning reflected developments in the backroom discussions.
The framework agreed in Paris is based on elements of an initial proposal made by Israel and a counterproposal made by Hamas, Sheikh Mohammed said at Washington’s Atlantic Council think tank on Monday.
“We tried to blend things together to come up with some sort of reasonable ground that brings everybody together,” he said.
The source with in-depth knowledge of the proposal said it could still be amended.
“The number of days or hostage calculations can change, but with this approach it allows for a sort of win-win shaped by what really matters to the two sides,” the source said.
Significant gaps remain, almost four months after Hamas fighters killed 1,200 people and took 253 others hostage on Oct. 7 in a bloody rampage through southern Israel towns.
Israel has responded by bombarding the narrow, densely populated Gaza Strip, killing more than 26,000 Palestinians and turning the enclave into a wasteland of rubble.
The source with in-depth knowledge of the talks said the discussions in Paris were “productive,” but that the deal could only move forward if both Hamas and Israel received robust guarantees from its backers.
By leaving the issue of male hostages from the Israeli Defense Forces to the end, the source said, Hamas could be made to feel it retained some leverage over the Israeli military.
Stock Markets
The Cannabist Company Celebrates the Biden Administration’s Monumental Decision to Reschedule Cannabis
NEW YORK–(BUSINESS WIRE)–The Cannabist Company Holdings Inc. (Cboe CA: CBST) (OTCQX: CBSTF) (FSE: 3LP) (The Cannabist Company or the Company), one of the largest and most experienced cultivators, manufacturers, and retailers of cannabis products in the U.S., released the following statements in response to President Biden and his administration’s decision to move cannabis from a Schedule I Controlled Substance to a Schedule III Controlled Substance under the federal Controlled Substances Act.
This is a truly momentous and historic occasion for the entire cannabis community. Our federal government has finally formally accepted that cannabis has medicinal value and is following the science that we in this industry have understood and poured our collective passion into while supporting this movement and building our businesses. Once finalized, this change will make state-regulated cannabis more accessible and affordable for our customers and patients. The end of the 280E tax code for cannabis businesses will allow us to operate our business more sustainably and reinvest more deeply into our teams, innovation, and product development to benefit the communities we serve, said David Hart, CEO, The Cannabist Company.
We are proud to have worked closely with the Biden Administration through every step of this 20-month-long process. Reclassifying cannabis is an important and pragmatic step on the path to full legalization, said Adam Goers, SVP “ Corporate Affairs, The Cannabist Company & the Founder and Co-Chair of the Coalition for Cannabis Scheduling Reform (CCSR). This move will not only eliminate the draconian taxation of cannabis businesses under 280E, but it will open research opportunities, protect public health and safety, and further signal that cannabis is being normalized under federal law.
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About The Cannabist Company (f/k/a Columbia Care (OTC:))
The Cannabist Company, formerly known as Columbia Care, is one of the largest and most experienced cultivators, manufacturers and providers of cannabis products and related services, with licenses in 15 U.S. jurisdictions. The Company operates 123 facilities including 92 dispensaries and 31 cultivation and manufacturing facilities, including those under development. Columbia Care, now The Cannabist Company, is one of the original multi-state providers of cannabis in the U.S. and now delivers industry-leading products and services to both the medical and adult-use markets. In 2021, the Company launched Cannabist, its retail brand, creating a national dispensary network that leverages proprietary technology platforms. The company offers products spanning flower, edibles, oils and tablets, and manufactures popular brands including Seed & Strain, Triple Seven, Hedy, gLeaf, Classix, Press, and Amber. For more information, please visit www.cannabistcompany.com.
Caution Concerning Forward Looking Statements
This press release contains certain statements that constitute forward-looking information or forward-looking statements within the meaning of applicable securities laws and reflect the Company’s current expectations regarding future events. Forward-looking statements or information contained in this release include, but are not limited to, statements or information with respect to taxation of the Company as well as the Company’s ability to execute on retail, wholesale, brand and product initiatives. These forward-looking statements or information, which although considered reasonable by the Company, may prove to be incorrect and are subject to known and unknown risks and uncertainties that may cause actual results, performance or achievements of the Company to be materially different from those expressed or implied by any forward-looking information. In addition, securityholders should review the risk factors discussed under Risk Factors in Columbia Care’s Form 10-K for the year ended December 31, 2023, as, filed with Canadian and U.S. securities regulatory authorities and described from time to time in subsequent documents filed with applicable securities regulatory authorities.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20240516901782/en/
Investor Contact
Lee Ann Evans
SVP, Capital Markets
investor@cannabistcompany.com
Media Contact
Lindsay (NYSE:) Wilson
SVP, Communications
media@cannabistcompany.com
Source: The Cannabist Company Holdings Inc.
On Thursday, UBS reaffirmed its Neutral stance on Dow Inc. (NYSE:), maintaining a price target of $61.00. The chemical giant Dow is expected to reach a higher earnings corridor, with mid-cycle earnings potentially near approximately $9 billion in EBITDA, compared to the consensus estimates of roughly $6.3 billion and $7.5 billion for the years 2024 and 2025, respectively. Dow has several projects underway that are projected to contribute an additional $1.2 billion in incremental EBITDA by the middle of the decade. Furthermore, the company’s net-zero Alberta cracker is anticipated to add around $1 billion by 2030.
Dow’s strategy also includes a commitment to sustainability, with goals to reduce scope 1 and 2 emissions by about 30% by 2030, aiming for net zero by 2050. The company plans to decrease water usage and increase the shift towards circular plastics, with a target of over 3 million tons per year by 2030. These initiatives are part of a broader ‘transform the waste’ strategy that is expected to yield an additional $0.5 billion.
In addition to environmental goals, Dow is also focusing on increasing its low-cost feedstock mix to approximately 70%, up from the current 65%, and expanding product capacity by about 15%. While UBS acknowledges that Dow is making significant investments in the right areas, there is still uncertainty regarding the timing of the turn in the cycle for a number of Dow’s product markets. The company’s forward-looking strategy aims to position it strongly for future market conditions.
InvestingPro Insights
As Dow Inc. (NYSE:DOW) continues to navigate the competitive landscape of the chemicals industry, recent data and analysis from InvestingPro provide an insightful look into the company’s financial health and market performance. With a market capitalization of $41.25 billion and a notable P/E ratio of 27.11 for the last twelve months as of Q1 2024, Dow is trading at a significant earnings multiple. This could suggest that investors have high expectations for the company’s future earnings growth.
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One of the key InvestingPro Tips highlights that management has been aggressively buying back shares, which could signal confidence in the company’s future prospects. Additionally, while analysts have revised their earnings expectations downwards for the upcoming period, Dow is still expected to be profitable this year with a predicted net income growth. This aligns with UBS’s outlook on Dow’s potential to reach higher earnings with its strategic initiatives.
Investors may also find the dividend yield of 4.74% as of the last dividend ex-date on February 28, 2024, to be a compelling aspect of Dow’s investment profile, particularly in an industry that suffers from weak gross profit margins like chemicals. With the stock trading near its 52-week high and a price percentage of 96.9% of that high, Dow’s stability and profitability over the last twelve months are evident in its performance metrics.
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This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Brian S. Krakower, the Chief Information Officer of BJ’s Restaurants Inc. (NASDAQ:), has recently sold 1,600 shares of the company’s common stock. The transaction, which took place on May 15, 2024, was executed at a price of $35.56 per share, resulting in a total sale value of $56,896.
Krakower’s sale reflects a straightforward cashing in of equity, as the company’s insider continues to hold a significant number of shares following the transaction. According to the filing, after the sale, Krakower still owns 7,652 shares of BJ’s Restaurants, which includes 5,339 unvested Restricted Stock Units.
Investors often monitor insider sales as they can provide insights into an executive’s perspective on the company’s current valuation. In the case of BJ’s Restaurants, the transaction by Krakower could be interpreted in various ways, but it remains a single data point in the broader context of the company’s financial health and market performance.
The sale comes at a time when the market is closely observing the movements of insiders to gauge the confidence level of those who are most familiar with the company’s operations. For BJ’s Restaurants, which operates in the competitive retail eating places sector, insider transactions are watched by investors seeking to understand the internal confidence in the company’s growth prospects and strategic direction.
Investors and analysts will continue to look at the future filings and market activities to inform their perspectives on BJ’s Restaurants’ stock and the decisions of its executives.
InvestingPro Insights
As BJ’s Restaurants Inc. (NASDAQ:BJRI) continues to navigate the competitive landscape of the retail eating places sector, certain metrics from InvestingPro provide a snapshot of the company’s financial position and market performance. With a market capitalization of 882.48 million USD and a P/E ratio of 37.19, the company is trading at a valuation that reflects investor expectations for future earnings growth. However, a closer look at the adjusted P/E ratio for the last twelve months as of Q1 2024 shows a lower figure of 30.02, suggesting a potential moderation in valuation expectations. Meanwhile, the company’s revenue growth has been relatively flat, with a slight increase of 0.21% over the last twelve months as of Q1 2024.
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An InvestingPro Tip for BJRI indicates that the company is trading at a high earnings multiple, which is supported by the P/E ratio data. This could be a point of consideration for investors who are evaluating the stock’s current price against its earning capacity. Additionally, the company’s gross profit margin stands at 13.94%, which aligns with another InvestingPro Tip highlighting BJRI’s weak gross profit margins. These insights may help investors understand the company’s profitability and cost management.
For those looking to delve deeper into BJRI’s financials and market performance, InvestingPro offers additional tips, including insights into dividend trends, earnings revisions, and stock price volatility. There are 12 more InvestingPro Tips available for BJ’s Restaurants, which can be accessed for a more comprehensive analysis. Investors interested in these detailed insights can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
With the next earnings date scheduled for July 25, 2024, market participants will be keen to see how BJRI’s financial results align with these metrics and tips. Until then, investors can continue to track the company’s performance to inform their investment decisions.
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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