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Hezbollah vows to punish Israel after pager blasts kill eight, injure thousands across Lebanon
By Laila Bassam
BEIRUT (Reuters) -Lebanon’s Hezbollah promised to retaliate after blaming Israel for detonating pagers on Tuesday that killed at least eight people and wounded 2,750 others, including many of the militant group’s fighters and Iran’s envoy to Beirut.
Lebanese Information Minister Ziad Makary condemned the detonation of the pagers – used by Hezbollah and others in Lebanon to communicate – as an “Israeli aggression”. Hezbollah said Israel would receive “its fair punishment” for the blasts.
The Israeli military, which has been engaged in cross-border warfare with Iran-backed Hezbollah since the start of the Gaza war last October, declined to respond to Reuters’ questions about the detonations.
A Hezbollah official, speaking on condition of anonymity, said the detonation of the pagers was the “biggest security breach” the group had been subjected to in nearly a year of conflict with Israel.
Developments in Lebanon are extremely concerning, especially given the “extremely volatile” context, said U.N. spokesperson Stephane Dujarric, adding that the U.N. deplores any civilian casualties.
Without commenting directly on the explosions in Lebanon, an Israeli military spokesman said the chief of staff, Major General Herzi Halevi, had met with senior officers on Tuesday evening to assess the situation. No policy change was announced but “vigilance must continue to be maintained”, he said.
Hezbollah earlier confirmed in a statement the deaths of at least two of its fighters in the explosions and said it was conducting an investigation into their causes.
Hezbollah fighters have been using pagers as a low-tech means to try and avoid Israeli tracking of their locations, two sources familiar with the group’s operations told Reuters earlier this year. A pager is a wireless telecommunications device that receives and displays messages.
The pagers were detonated in southern Lebanon, the southern suburbs of Beirut known as Dahiyeh and the eastern Bekaa valley – all Hezbollah strongholds.
MANY INJURED
Lebanese Health Minister Firass Abiad said 2,750 people had been wounded in the explosions, 200 of them critically.
Many of those hurt included Hezbollah fighters who are the sons of top officials from the armed group, two security sources told Reuters.
One of the fighters killed was the son of a Hezbollah member of the Lebanese parliament, Ali Ammar, they said.
“This is not a security targeting of one, two or three people. This is a targeting of an entire nation,” senior Hezbollah official Hussein Khalil said while paying his condolences for Ammar’s son.
Lebanese broadcaster Al Jadeed cited Ammar as saying what happened was an Israeli aggression. “We will deal with the enemy in the language it understands,” he added.
Tuesday’s blasts added to a hefty price already paid over the past year by Hezbollah, which has lost more than 400 of its fighters in Israeli strikes, including its top commander Fuad Shukr in July. Security sources in Lebanon said two more Hezbollah fighters were killed in an Israeli strike in southern Lebanon on Tuesday.
Iran’s ambassador to Lebanon, Mojtaba Amani, suffered a “superficial injury” in Tuesday’s pager blasts and is currently under observation in hospital, Iran’s semi-official Fars news agency said. Reuters could not immediately confirm the report.
There was no word from the Israeli government on the explosions.
Earlier on Tuesday, Israel’s domestic security agency said it had foiled a plot by Lebanese militant group Hezbollah to assassinate a former senior defence official in the coming days.
The Shin Bet agency, which did not name the official, said in a statement it had seized an explosive device attached to a remote detonation system, using a mobile phone and a camera that Hezbollah had planned to operate from Lebanon.
Shin Bet said the attempted attack was similar to a Hezbollah plot foiled in Tel Aviv a year ago, without giving further details.
Hezbollah has said it wants to avoid all-out conflict with Israel but that only an end to the Gaza war will stop the cross-border clashes. Gaza ceasefire efforts remain deadlocked after months of talks mediated by Qatar, Egypt and the United States.
SCREAMING IN PAIN
After Tuesday’s blasts, a Reuters journalist saw ambulances rushing through the southern suburbs of the capital Beirut, a Hezbollah stronghold, amid widespread panic. A security source said that devices were also exploding in the south of Lebanon.
At Mt. Lebanon hospital, a Reuters reporter saw motorcycles rushing to the emergency room, where people with their hands bloodied were screaming in pain.
The head of the Nabatieh public hospital in the south of the country, Hassan Wazni, told Reuters that around 40 wounded people were being treated at his facility. The wounds included injuries to the face, eyes and limbs.
Groups of people huddled at the entrance of buildings to check on people they knew who may have been wounded, the Reuters journalist said.
Regional broadcasters carrying CCTV footage which showed what appeared to be a small handheld device placed next to a grocery store cashier where an individual was paying spontaneously exploding.
Hezbollah fired missiles at Israel immediately after the Oct. 7 attacks by Hamas gunmen on Israel that triggered the Gaza war. Hezbollah and Israel have been exchanging fire constantly ever since, while avoiding a major escalation.
Tens of thousands of people have been displaced from towns and villages on both sides of the border by the hostilities.
On Tuesday, Israel added the safe return of its citizens forced to leave their homes near the border with Lebanon to its formal war goals.
In a challenging market environment, Allbirds Inc. (NASDAQ:) stock has recorded a new 52-week low, dipping to $7.65. The eco-friendly footwear company has faced significant headwinds over the past year, reflected in a substantial 1-year change with a decline of -55.8%. Investors have shown concern as the brand navigates through a competitive retail landscape and supply chain issues, which have pressured the stock to its current low. The company’s efforts to rebound will be closely watched by market participants looking for signs of a turnaround or further indications of industry-wide pressures.
In other recent news, Allbirds disclosed its Q3 2024 financial results, reporting a net revenue of $43 million. This figure reflects a downturn due to reduced unit sales and transitions to a distributor model in certain regions. Despite these challenges, the company managed to increase its gross margin to 44.4%, attributed to lower freight costs and improved inventory management.
The company also launched two new products, the Tree Glider and Lounger Lift, which have been positively received by consumers. Allbirds revised its full-year revenue guidance to between $187 million and $193 million and anticipates an adjusted EBITDA loss of $75 million to $71 million.
Additionally, Allbirds has signed two new international distributor agreements, expanding its reach in Latin America and Europe from mid-2025. The company’s management, led by CEO Joe Vernachio and CFO Annie Mitchell, remains optimistic about future growth, driven by forthcoming product launches and strategic marketing efforts.
InvestingPro Insights
Allbirds Inc. (BIRD) continues to face significant challenges, as reflected in its recent stock performance and financial metrics. According to InvestingPro data, the company’s revenue growth has declined by 22.67% over the last twelve months as of Q3 2024, with a quarterly revenue decline of 24.89% in Q3 2024. This aligns with the InvestingPro Tip that analysts anticipate sales decline in the current year.
The company’s financial health is also concerning, with an operating income margin of -48.08% for the same period. An InvestingPro Tip highlights that Allbirds is quickly burning through cash, which is particularly worrisome given the current market conditions.
Despite these challenges, InvestingPro Tips indicate that Allbirds holds more cash than debt on its balance sheet and its liquid assets exceed short-term obligations. This could provide some financial flexibility as the company navigates its turnaround efforts.
For investors seeking a more comprehensive analysis, InvestingPro offers 17 additional tips for Allbirds, providing a deeper understanding of the company’s financial position and market performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Quipt Home Medical (TASE:) Corp. (QIPT) stock has reached a new 52-week low, trading at $2.55. This latest price point marks a significant downturn for the company, which has experienced a 46.87% decline over the past year. Investors are closely monitoring the home medical equipment provider as it navigates through a challenging period marked by this notable decrease in stock value. The 52-week low serves as a critical indicator for the market, reflecting investor sentiment and potential shifts in the company’s financial health and operational performance.
In other recent news, Quipt Home Medical Corp has been making notable strides despite facing several challenges. The company’s third fiscal quarter report revealed a steady increase in revenue, reaching $64 million, a 6.1% rise from the previous year. The customer base also expanded by 9%, serving 153,223 unique patients, and adjusted EBITDA grew by 2.7% to $14.2 million.
Benchmark revised its stock price target for Quipt Home Medical, reducing it to $7 from the previous $9, but maintained a Buy rating for the stock. This adjustment was influenced by several factors including the expiration of Medicare’s 75/25 rate relief, a diminished Managed Care contract, and the repercussions of the Change Healthcare (NASDAQ:) cyberattack. However, the firm predicts that Quipt could achieve an 8%-10% organic growth rate by the second quarter of fiscal year 2025.
In the face of these challenges, Quipt Home Medical has reported a 9% increase in resupply revenue for sleep therapy and supplies, which accounts for half of the company’s revenues. The company’s management has also indicated an active mergers and acquisitions pipeline, which could provide further growth opportunities. These are the recent developments that investors should keep an eye on.
InvestingPro Insights
Despite Quipt Home Medical Corp. (QIPT) hitting a new 52-week low, InvestingPro data reveals some interesting insights that may provide context for investors. The company’s revenue growth remains strong, with a 29.31% increase over the last twelve months as of Q3 2024, reaching $244.23 million. This growth suggests that QIPT continues to expand its market presence in the home medical equipment sector.
However, profitability remains a concern. InvestingPro Tips highlight that QIPT has not been profitable over the last twelve months, with a negative P/E ratio of -24.61. On a more positive note, analysts predict that the company will become profitable this year, which could potentially reverse the stock’s downward trend.
The current market valuation implies a strong free cash flow yield, according to another InvestingPro Tip. This could indicate that the stock may be undervalued at its current price, especially considering that it’s trading near its 52-week low. Investors looking for a deeper analysis can find 7 additional InvestingPro Tips for QIPT, offering a more comprehensive view of the company’s financial situation 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 Andrea Shalal
WASHINGTON (Reuters) – U.S. Muslim leaders who supported Republican Donald Trump to protest against the Biden administration’s support for Israel’s war on Gaza and attacks on Lebanon have been deeply disappointed by his Cabinet picks, they tell Reuters.
“Trump won because of us and we’re not happy with his Secretary of State pick and others,” said Rabiul Chowdhury, a Philadelphia investor who chaired the Abandon Harris campaign in Pennsylvania and co-founded Muslims for Trump. Muslim support for Trump helped him win Michigan and may have factored into other swing state wins, strategists believe.
Trump picked Republican senator Marco Rubio, a staunch supporter of Israel for Secretary of State. Rubio said earlier this year he would not call for a ceasefire in Gaza, and that he believed Israel should destroy “every element” of Hamas. “These people are vicious animals,” he added.
Trump also nominated Mike Huckabee, a former Arkansas governor and staunch pro-Israel conservative who backs Israeli occupation of the West Bank and has called a two state solution in Palestine “unworkable”, as the next ambassador to Israel.
He has picked Republican Representative Elise Stefanik, who called the UN a “cesspool of antisemitism” for its condemnation of deaths in Gaza, to serve as U.S. ambassador to the United Nations.
Rexhinaldo Nazarko, executive director of the American Muslim Engagement and Empowerment Network (AMEEN), said Muslim voters had hoped Trump would choose Cabinet officials who work toward peace, and there was no sign of that.
“We are very disappointed,” he said. “It seems like this administration has been packed entirely with neoconservatives and extremely pro-Israel, pro-war people, which is a failure on the on the side of President Trump, to the pro-peace and anti-war movement.”
Nazarko said the community would continue pressing to make its voices heard after rallying votes to help Trump win. “At least we’re on the map.”
Hassan Abdel Salam, a former professor at the University of Minnesota, Twin Cities and co-founder of the Abandon Harris campaign, which endorsed Green Party candidate Jill Stein, said Trump’s staffing plans were not surprising, but had proven even more extreme that he had feared.
“It’s like he’s going on Zionist overdrive,” he said. “We were always extremely skeptical…Obviously we’re still waiting to see where the administration will go, but it does look like our community has been played.”
The Trump campaign did not immediately respond to an email seeking comment.
Several Muslim and Arab supporters of Trump said they hoped Richard Grenell, Trump’s former acting director of national intelligence, would play a key role after he led months of outreach to Muslim and Arab American communities, and was even introduced as a potential next secretary of state at events.
Another key Trump ally, Massad Boulos, the Lebanese father-in-law of Trump’s daughter Tiffany, met repeatedly with Arab American and Muslim leaders.
Both promised Arab American and Muslim voters that Trump was a candidate for peace who would act swiftly to end the wars in the Middle East and beyond. Neither was immediately reachable.
Trump made several visits to cities with large Arab American and Muslim populations, include a stop in Dearborn, a majority Arab city, where he said he loved Muslims, and Pittsburgh, where he called Muslims for Trump “a beautiful movement. They want peace. They want stability.”
Rola Makki, the Lebanese American, Muslim vice chair for outreach of the Michigan Republican Party, shrugged off the criticism.
“I don’t think everyone’s going to be happy with every appointment Trump makes, but the outcome is what matters,” she said. “I do know that Trump wants peace, and what people need to realize is that there’s 50,000 dead Palestinians and 3,000 dead Lebanese, and that’s happened during the current administration.”
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