Connect with us
  • tg

Stock Markets

Israeli strikes kill 42 in Gaza as tanks tighten siege of north

letizo News

Published

on

By Nidal al-Mughrabi

CAIRO (Reuters) -Israeli strikes across Gaza killed 42 people on Wednesday as Israeli forces intensified a siege of northern parts of the Palestinian enclave, surrounding hospitals and refugee shelters, and ordering residents to head south, medics and residents said.

The Gaza health ministry and the World Health Organization said they would be unable to start a polio vaccination campaign in northern Gaza as planned because of the intense bombardments, mass displacements and lack of access.

Israeli forces began the operation in the north about three weeks ago with the declared aim of preventing Hamas fighters from regrouping. The operation has intensified since the killing of Hamas chief Yahya Al-Sinwar a week ago.

Israel’s allies, including the United States, have said they hoped Sinwar’s death could provide a fresh impetus for peace by allowing Israel to declare that it had achieved some of its major objectives in Gaza.

But so far, Israeli forces seem to have only intensified their assault, especially on the northern areas, where Israel says Hamas fighters are regrouping in ruins of areas that were among the first targeted by Israel’s campaign last year.

The Israeli military announced last Friday it had sent another army unit to Jabalia on the northern edge of Gaza. Residents say the troops have besieged shelters, forcing displaced people to leave while rounding up many of the men. The health ministry said at least 650 people had been killed since the new offensive began.

Of at least 42 people reported killed by Israeli military strikes across the enclave on Wednesday, 37 deaths were in northern Gaza.

Later on Wednesday, the Gaza Civil Emergency Service said three of its rescuers were wounded in northern Gaza in what it said was a “targeted strike”, that aimed to force them out of Jabalia, hours after the Israeli army ordered some of their staff to leave the camp.

The United Nations Palestinian refugee agency UNRWA said on Wednesday one of its staff members was killed when an UNRWA vehicle was hit in Deir Al-Balah in the central Gaza Strip. Medics said the man’s brother was also killed. The municipality of Gaza City said two city workers were killed and three others wounded in a strike there.

Health and civil emergency officials said dozens of bodies of Palestinians killed by Israeli fire in and around Jabalia were scattered on roadsides and under the rubble where medical teams could not reach them.

Hospitals in the north have either stopped providing medical services or are hardly operating because of the offensive. Hospitals where medics have refused Israeli evacuation orders say they are running out of blood for transfusions, as well as coffins and shrouds for the dead.

“We call on the world, which has failed to provide protection and shelter for our people and has been unable to deliver food and medicine, to make an effort to send shrouds for our fallen,” the Gaza health ministry said in a statement.

The polio vaccination campaign, launched after a baby was paralysed by the disease in Gaza for the first time in 25 years, had to be halted.

“We have not been able to launch the campaign to vaccinate 120,000 children in Gaza City and northern Gaza today because of the siege and the Israeli aggression,” health ministry official Majdi Dhair said.

Israel’s military humanitarian unit, COGAT, which oversees aid and commercial shipments to Gaza, said the vaccination campaign in northern Gaza will begin in the coming days, “after a joint assessment and at the request” of the World Health Organization and the U.N. International Children’s Emergency Fund UNICEF.

CALL FOR TRUCE

U.S. Secretary of State Antony Blinken visited Israel and was heading to Saudi Arabia to push for a ceasefire, the first major U.S. peace initiative since the killing of Hamas leader Sinwar and the last before a Nov. 5 presidential election that could upend U.S. policy in the region.

Washington has called on Israel to allow more humanitarian supplies into northern Gaza. Israel says aid has been delivered in scores of trucks as well as air drops, but Gaza medics say the aid has not reached them.

COGAT said on Tuesday that 237 trucks containing humanitarian aid from Jordan and the international community had been transferred to northern Gaza over the past eight days.

Israel “will continue to act in accordance with international law to facilitate and ease the humanitarian response to the Gaza Strip,” it said.

Palestinian health officials and residents said no aid has been allowed into Jabalia, Beit Hanoun, and Beit Lahiya, three towns on the northern edge of Gaza.

The Israeli military said its forces were operating against Hamas militants who staged attacks from there, and that they killed scores of militants and destroyed military infrastructure while helping residents who heeded evacuation orders to leave.

© Reuters. Palestinians work to remove an UNRWA-labelled vehicle after it was hit in an Israeli strike, according to Palestinian officials, amid the Israel-Hamas conflict, in Deir Al-Balah in the central Gaza Strip, October 23, 2024. REUTERS/Ramadan Abed

The overall death toll in Gaza is approaching 43,000, according to the latest health ministry figures, and nearly all of the 2.3 million Gazans have been displaced, many multiple times.

The Israeli offensive was triggered by the Hamas-led attack on Israel on Oct. 7, 2023, in which 1,200 people were killed and around 250 taken as hostages back into Gaza.

(Reporting and writing by Nidal al-MughrabiEditing by Angus MacSwan, Peter Graff, William Maclean)

Stock Markets

Apple down as top analyst Kuo says company cut iPhone 16 orders by 10M units

letizo News

Published

on

Investing.com — Apple fell Wednesday after Market analyst Ming-Chi Kuo at TF International, known for his knack of nailing predictions on Apple, delivered a gloomy update on iPhone 16 demand, saying the tech giant has cut a total of 10 million orders for the fourth quarter of 2024 through the first half of 2025.

Apple Inc (NASDAQ:) fell more than 2% in recent trading Wednesday.

The cuts were mostly to non-pro iPhone 16 models, with total iPhone production for 4Q24, 1Q25, and 2Q25 now forecast at around 80 million, 45 million, and 39 million units, respectively, all down from a year earlier, Kuo wrote in a post on Medium.

The cut to orders over the three quarter period through H1 2025, indicates iPhone 16 production for second half of fiscal 2024 is now estimated at 84 million units, down from 88 million previously.

The gloomy estimate on iPhone 16 orders suggest there is “no evidence yet that Apple Intelligence could boost iPhone shipments in the near term,” Kuo added.

Apple unveiled its iPhone 16 at its ‘glowtime’ product event last month, and showcased the integration of its artificial intelligence assistant Apple Intelligence into its new suite of iPhones.

Ahead of the launch, many Wall Street were optimistic that the new AI-powered iPhones could sway users of older iPhone models to upgrade, leading to a new upgrade cycle for the tech giant.

Apple released Wednesday a new preview of its Apple Intelligence features including the including integration of ChatGPT.

Apple Intelligence will be available to the public as part of the official iOS 18.1 release next week, Apple said.

Continue Reading

Stock Markets

VINC stock touches 52-week low at $0.36 amid market challenges

letizo News

Published

on

In a turbulent market environment, VINC stock has reached its 52-week low, trading at $0.36. This price level reflects a significant downturn for the company, with the stock experiencing a steep 1-year change of -62.68%. Investors are closely monitoring VINC as it navigates through the prevailing economic headwinds that have impacted its market valuation. The 52-week low serves as a critical point for the company, marking a challenging phase that could potentially attract value-seeking buyers or signal further concerns about the company’s future prospects.

In other recent news, Vincerx Pharma reported promising results from its VIP943 program, with two complete remissions in patients with Acute Myeloid Leukemia (AML) and High-Risk Myelodysplastic Syndromes (HR-MDS) in its ongoing Phase 1 study. This development was accompanied by a strategic shift in pipeline development priorities, as Leerink Partners adjusted the price target for Vincerx Pharma to $2.00 from $4.00, while retaining an Outperform rating on the company’s stock. This adjustment was influenced by the early but promising results from the VIP943 program and the less promising results from the VIP236 program.

Vincerx Pharma has decided to seek a strategic partner for the future development of VIP236, thus focusing its resources on the more promising VIP943. The company also revised its cash runway guidance, now projecting its funds to extend into early 2025.

In addition to VIP943, Vincerx Pharma provided updates on VIP236 and enitociclib. VIP236, in a Phase 1 study for advanced solid tumors, reported a disease control rate of 45% among evaluable patients. On the other hand, enitociclib, a CDK9 inhibitor, reported four partial responses among seven patients in a Phase 1 study for relapsed/refractory diffuse large B-cell lymphoma and peripheral T-cell lymphoma. The company is actively seeking strategic partners for further development of VIP236 and enitociclib. These are the recent developments that highlight the company’s ongoing efforts in advancing their clinical trials.

InvestingPro Insights

VINC’s recent market performance aligns with the data from InvestingPro, which shows the stock has taken a significant hit over the past six months, with a total price return of -59.36%. This decline is even more pronounced in the short term, with a one-month price return of -46.4%, underscoring the stock’s current volatility and downward trajectory.

Despite the challenging market conditions, InvestingPro Tips highlight that VINC holds more cash than debt on its balance sheet, and its liquid assets exceed short-term obligations. These factors could provide some financial stability as the company navigates through this difficult period. However, it’s worth noting that VINC suffers from weak gross profit margins and has not been profitable over the last twelve months, which may contribute to investor concerns.

The current Price to Book ratio of 0.73 suggests that the stock might be undervalued relative to its book value, potentially presenting an opportunity for value investors. However, this should be weighed against the company’s negative earnings and the analysts’ expectations that VINC will not be profitable this year.

For investors seeking a more comprehensive analysis, InvestingPro offers 5 additional tips that could provide further insights into VINC’s financial health and market position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Continue Reading

Stock Markets

K12 Inc stock soars to all-time high of $88.06 amid robust growth

letizo News

Published

on

K12 (NYSE:) Inc, a leader in online education, has reached an all-time high of $88.06, marking a significant milestone for the company’s stock. This peak reflects a remarkable 96.61% increase over the past year, showcasing the company’s strong performance and investor confidence. The surge to record levels underscores the growing demand for digital learning solutions and K12 Inc ‘s successful expansion in the educational technology sector. Investors are closely monitoring the stock’s trajectory as the company continues to innovate and expand its offerings in the rapidly evolving education market.

In other recent news, Stride, Inc. reported robust growth in its first-quarter fiscal year 2025 earnings call, marking its 25th anniversary with record enrollments and a substantial increase in revenue and adjusted operating income. The company witnessed a surge in enrollments to over 222,000, an 18.5% growth from the previous year. Revenue climbed to $551.1 million, up 15%, while adjusted operating income rose dramatically by 295% to $58.4 million. Diluted earnings per share also increased to $0.94, up from $0.11.

Stride, Inc. projected revenue between $2.225 billion and $2.3 billion for fiscal 2025, and expects the adjusted operating income to range from $395 million to $425 million. Despite the loss of ESSER funding, the company remains optimistic about achieving its fiscal 2028 targets with expected continued enrollment growth and improved gross margins.

However, the company did face challenges such as limited progress in developing a separate marketing funnel for Career Learning offerings and complexities in expansion into new states by 2025-2026. These recent developments have been highlighted by analysts, providing investors with a clearer perspective of the company’s performance and future expectations.

InvestingPro Insights

K12 Inc’s recent stock performance aligns with several key metrics and insights from InvestingPro. The company, now trading near its 52-week high, has demonstrated impressive financial strength and growth. With a market capitalization of $3.76 billion, K12 Inc has shown robust revenue growth of 11.03% over the last twelve months, reaching $2.04 billion. This growth is complemented by a strong EBITDA increase of 31.11% during the same period.

InvestingPro Tips highlight that K12 Inc holds more cash than debt on its balance sheet, indicating financial stability. Additionally, the company’s cash flows can sufficiently cover interest payments, further solidifying its financial position. These factors likely contribute to investor confidence and the stock’s recent performance.

Despite the recent surge, K12 Inc’s stock may still have room for growth. The company’s P/E ratio (adjusted) of 13.54 and PEG ratio of 0.23 suggest that the stock might be undervalued relative to its earnings growth potential. This aligns with the InvestingPro Tip that K12 Inc is trading at a low P/E ratio relative to near-term earnings growth.

For investors seeking more comprehensive analysis, InvestingPro offers 11 additional tips for K12 Inc, providing a deeper understanding of the company’s financial health and market position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Continue Reading

Trending

©2021-2024 Letizo All Rights Reserved