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Lebanon’s Nasrallah led Hezbollah to become regional force
BEIRUT (Reuters) – Hezbollah leader Sayyed Hassan Nasrallah, whose death was announced on Saturday, led the Lebanese group through decades of conflict with Israel, overseeing its transformation into a military force with regional sway and becoming one of the most prominent Arab figures in generations – with Iranian backing.
Hezbollah said in a statement that Nasrallah had been killed, but it did not say how. The Israeli military said earlier it had killed Nasrallah in an airstrike on the group’s central headquarters in the southern suburbs of Beirut on Friday.
Nasrallah’s death deals a huge blow to the group. He will be remembered among his supporters for standing up to Israel and defying the United States. To enemies, he was head of a terrorist organisation and a proxy for Iran’s Shi’ite Islamist theocracy in its tussle for influence in the Middle East.
His regional influence was on display over nearly a year of conflict ignited by the Gaza war, as Hezbollah entered the fray by firing on Israel from southern Lebanon in support of its Palestinian ally Hamas, and Yemeni and Iraqi groups followed suit, operating under the umbrella of “The Axis of Resistance”.
“We are facing a great battle,” Nasrallah said in an Aug. 1 speech at the funeral of Hezbollah’s top military commander, Fuad Shukr, who was killed in an Israeli strike on the Hezbollah-controlled southern suburbs of Beirut.
Yet when thousands of Hezbollah members were injured and dozens killed, when their communications devices exploded in an apparent Israeli attack last week, that battle began to turn against his group.
Responding to the attacks on Hezbollah’s communications network in a Sept. 19 speech, Nasrallah vowed to punish Israel.
“This is a reckoning that will come, its nature, its size, how and where? This is certainly what we will keep to ourselves and in the narrowest circle even within ourselves,” he said.
He had not given a broadcast address since then.
Israel has meanwhile dramatically escalated its attacks, killing several senior Hezbollah commanders in targeted strikes and unleashing a massive bombardment in Hezbollah-controlled areas of Lebanon, which has killed hundreds of people.
Recognised even by his enemies as a skilled orator, Nasrallah’s speeches were followed by friend and foe alike.
Wearing the black turban of a sayyed, or a descendent of the Prophet Mohammad, Nasrallah used his addresses to rally Hezbollah’s base but also to deliver carefully calibrated threats, often wagging his finger as he does so.
He became secretary general of Hezbollah in 1992 aged just 35, the public face of a once shadowy group founded by Iran’s Revolutionary Guards in 1982 to fight Israeli occupation forces.
Israel killed his predecessor, Sayyed Abbas al-Musawi, in a helicopter attack. Nasrallah led Hezbollah when its guerrillas finally drove Israeli forces from southern Lebanon in 2000, ending an 18-year occupation.
‘DIVINE VICTORY’
Conflict with Israel largely defined his leadership. He declared “Divine Victory” in 2006 after Hezbollah waged 34 days of war with Israel, winning the respect of many ordinary Arabs who had grown up watching Israel defeat their armies.
But he became an increasingly divisive figure in Lebanon and the wider Arab world as Hezbollah’s area of operations widened to Syria and beyond, reflecting an intensifying conflict between Shi’ite Iran and U.S.-allied Sunni Arab monarchies in the Gulf.
While Nasrallah painted Hezbollah’s engagement in Syria – where it fought in support of President Bashar al-Assad during the civil war – as a campaign against jihadists, critics accused the group of becoming part of a regional sectarian conflict.
At home, Nasrallah’s critics said Hezbollah’s regional adventurism imposed an unbearable price on Lebanon, leading once friendly Gulf Arabs to shun the country – a factor that contributed to its 2019 financial collapse.
In the years following the 2006 war, Nasrallah walked a tightrope over a new conflict with Israel, hoarding Iranian rockets in a carefully measured contest of threat and counter threat.
The Gaza war, ignited by the Oct. 7 Hamas attack on Israel, prompted Hezbollah’s worst conflict with Israel since 2006, costing the group hundreds of its fighters including top commanders.
After years of entanglements elsewhere, the conflict put renewed focus on Hezbollah’s historic struggle with Israel.
“We are here paying the price for our front of support for Gaza, and for the Palestinian people, and our adoption of the Palestinian cause,” Nasrallah said in the Aug. 1 speech.
Nasrallah grew up in Beirut’s impoverished Karantina district. His family hail from Bazouriyeh, a village in the Lebanon’s predominantly Shi’ite south which today forms Hezbollah’s political heartland.
He was part of a generation of young Lebanese Shi’ites whose political outlook was shaped by Iran’s 1979 Islamic Revolution.
Before leading the group, he used to spend nights with frontline guerrillas fighting Israel’s occupying army. His teenage son, Hadi, died in battle in 1997, a loss that gave him legitimacy among his core Shi’ite constituency in Lebanon.
POWERFUL ENEMIES
He had a track record of threatening powerful enemies.
As regional tensions escalated after the eruption of the Gaza war, Nasrallah issued a thinly veiled warning to U.S. warships in the Mediterranean, telling them: “We have prepared for the fleets with which you threaten us.”
In 2020, Nasrallah vowed that U.S. soldiers would leave the region in coffins after Iranian general Qassem Soleimani was killed in a U.S. drone strike in Iraq.
He expressed fierce opposition to Saudi Arabia over its armed intervention in Yemen, where, with U.S. and other allied support, Riyadh sought to roll back the Iran-aligned Houthis.
As regional tensions rose in 2019 following an attack on Saudi oil facilities, he said Saudi Arabia and the United Arab Emirates should halt the Yemen war to protect themselves.
“Don’t bet on a war against Iran because they will destroy you,” he said in a message directed at Riyadh.
On Nasrallah’s watch, Hezbollah also clashed with adversaries at home in Lebanon.
In 2008, he accused the Lebanese government – backed at the time by the West and Saudi Arabia – of declaring war by moving to ban his group’s internal communication network. Nasrallah vowed to “cut off the hand” that tried to dismantle it.
It prompted four days of civil war pitting Hezbollah against Sunni and Druze fighters, and the Shi’ite group to take over half the capital Beirut.
He strongly denied any Hezbollah involvement in the 2005 assassination of former Prime Minister Rafik al-Hariri, after a U.N.-backed tribunal indicted four members of the group.
Nasrallah rejected the tribunal – which in 2020 eventually convicted three of them in absentia over the assassination – as a tool in the hands of Hezbollah’s enemies.
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.
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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.
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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