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Stock market today: Wall Street rallies ahead of ChristmasNebraska takes care of Hawaii, advances to Diamond Head final
Codexis Announces New Employment Inducement GrantsOn Tuesday, Eversource Energy ES announced its acquisition of a 26-acre portion of the Mystic property from Constellation Energy Corporation CEG . This acquisition is part of Eversource’s broader plan to support Massachusetts’ clean energy transition while maintaining reliable service across New England. The Mystic site, located in Everett, holds significant potential to become a multi-use energy interconnection hub for large-scale renewable sources like offshore wind, hydro, battery storage, and even nuclear energy. The existing infrastructure and its strategic location make it an ideal site for electrification and addressing the region’s energy reliability needs. Eversource has yet to outline specific plans for the property but aims to collaborate with Massachusetts, Everett officials, and other stakeholders to develop a plan for next year. Also Read: Investors Aggressively Bought Stocks, ETFs In Volatile Fed Week: Bank Of America Reveals Largest Inflows Since 2017 The site, adjacent to a proposed soccer stadium, could play a critical role in improving electric reliability in New England, helping Massachusetts meet its electrification and decarbonization goals. Eversource’s Chairman, Joe Nolan, emphasized that the acquisition would provide a unique opportunity to support economic development, create jobs, and drive forward clean energy initiatives. The purchase of the Mystic property also offers a chance to enhance grid reliability, mitigate potential congestion in the regional transmission system, and ease the integration of renewables. However, the transaction will not immediately impact customer bills, allowing Eversource to plan and develop the site without additional financial burdens on consumers. Price Action: ES shares closed higher by 0.17% to $57.28 on Tuesday. Read Next: 5 Semiconductor Stocks Wall Street Analysts Predict Could Soar In 2025 This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Jets linebacker C.J. Mosley will be placed on IR with neck injury
NEW YORK (AP) — U.S. stocks are rising near records Monday and adding to last week’s gains. The S&P 500 was 0.1% higher, as of 12:56 p.m. Eastern time, and sitting a bit below its all-time high set two weeks ago. The Dow Jones Industrial Average added 286 points, or 0.7%, to its own record set on Friday, while the Nasdaq composite was 0.1% higher. Treasury yields also eased in the bond market amid what some analysts called a “Bessent bounce” after President-elect Donald Trump said he wants Scott Bessent , a hedge fund manager, to be his Treasury Secretary. Bessent has advocated for reducing the U.S. government’s deficit, which is how much more it spends than it takes in through tax and other revenue. Such an approach could soothe worries on Wall Street that Trump’s policies may lead to a much bigger deficit, which in turn would put upward pressure on Treasury yields. After climbing above 4.44% immediately after Trump’s election, the yield on the 10-year Treasury fell back to 4.30% Monday, down from 4.41% late Friday. That’s a notable move, and lower yields help make it cheaper for all kinds of companies and households to borrow money. They also give a boost to prices for stocks and other investments. The two-year Treasury yield, which more closely tracks the market’s expectations for what the Federal Reserve will do with overnight interest rates, also slid. The Fed began cutting its main interest rate just a couple months ago from a two-decade high, hoping to keep the job market humming after bringing high inflation nearly all the way down to its 2% target. But immediately after Trump’s victory, traders reduced bets for how many cuts the Fed may deliver next year. They were worried Trump's preference for lower tax rates and higher spending on the border would balloon the national debt. On Monday, traders went back to increasing their bets for the number of cuts possible in 2025, according to data from CME Group. A report coming on Wednesday could influence how much the Fed may cut rates. Economists expect it to show that an underlying inflation trend the Fed prefers to use accelerated to 2.8% last month from 2.7% in September. Higher inflation would make the Fed more reluctant to cut rates as deeply or as quickly as it would otherwise. Goldman Sachs economist David Mericle expects that to slow by the end of next year to 2.4%, but he said inflation would be even lower if not for expected tariff increases on imports from China and autos favored by Trump. In the stock market, Bath & Body Works jumped 14.8% after delivering stronger profit for the latest quarter than analysts expected. The seller of personal care products and home fragrances also raised its financial forecasts for the full year, even though it still sees a “volatile retail environment” and a shorter holiday shopping season this year. Much focus has been on how resilient U.S. shoppers can remain, given high prices across the economy and still-high interest rates. Last week, two major retailers sent mixed messages. Target tumbled after giving a dour forecast for the holiday shopping season. It followed Walmart , which gave a much more encouraging outlook. Another big retailer, Macy’s, said Monday its sales for the latest quarter were in line with its expectations, but it will delay the release of its full financial results. It found a single employee had intentionally hid up to $154 million in delivery expenses, and it needs more time to complete its investigation. Macy’s stock fell 3.3%. Among the market's leaders were several companies related to the housing industry. Monday's drop in Treasury yields could translate into easier mortgage rates, which could spur activity for housing. Builders FirstSource, a supplier or building materials, rose 6.8% for one of the biggest gains in the S&P 500. Among homebuilders, D.R. Horton climbed 6.1%, PulteGroup added 5.9% and Lennar rose 5.5%. In stock markets abroad, indexes moved modestly across much of Europe after finishing mixed in Asia. In the crypto market, bitcoin was trading around $95,300 after threatening to hit $100,000 late last week for the first time. AP Business Writer Elaine Kurtenbach contributed.PPL Corp. stock underperforms Friday when compared to competitors
The J. M. Smucker Company Announces Pricing for Cash Tender Offers
The Green Bay Packers were able to take care of business in Week 12 NFL action, defeating the San Francisco 49ers by a final score of 38-10. Josh Jacobs was a huge part of the dominant performance that the Packers put together. When everything was said and done, Jacobs ended up carrying the football 26 times for 106 yards and three touchdowns. Every single time the Packers needed him to make a play, he came through for them. After all of the questions surrounding the decision to move on from Aaron Jones to bring in Jacobs, the former Las Vegas Raiders’ star running back has completely shut down all of the critics. Throughout his first 11 games with Green Bay, Jacobs has carried the football 202 times for 944 yards and seven touchdowns. He has also caught 23 passes for 186 yards and a score. At just 26 years old, the future is incredibly bright for Jacobs with the Green Bay Packers. Green Bay Packers RB Josh Jacob Delivers Bold Message After Beating 49ers Following the Packers’ big win over the 49ers, Jacobs spoke out with a very bold message. It’s clear just how much he loves being in Green Bay and playing for the franchise. “The Packers believed in me. They took a chance on me. So every day I come in and try to pour everything I have into this team.” Jacobs has been putting in the work and it has shown on the field. He clearly wants to win and he’s enjoying and cherishing each and every moment that he is having this season. Imagine coming from a dysfunctional franchise like the Raiders and joining the Green Bay Packers. He’s winning at a high level so far this season for the first time and appears likely to be headed to the playoffs. Not only has he been enjoying the success, he has been one of the biggest reasons for it. All of that being said, Jacobs has quickly endeared himself to the Green Bay fan base. Losing Jones was a sad moment, but Jacobs has more than made up for that sadness. Hopefully, he’ll continue to produce at the level that he has shown so far this season. If he keeps doing what he’s doing throughout the rest of the season, the Packers will have a chance to make some noise in the postseason. This article first appeared on WI Sports Heroics and was syndicated with permission.UPDATED with sentence: Carlos Watson , the founder and former CEO of Ozy Media , was sentenced to 116 months, or nearly ten years, in prison for conspiracy to commit securities fraud, conspiracy to commit wire fraud and aggravated identity theft in an unusual case that briefly captivated the media world. Watson launched the digital lifestyle and news site in 2012. The term was handed down this week by United States District Judge Eric R. Komitee in federal court in Brooklyn following Watson’s conviction in July after an eight-week trial. While hefty, it was well below the 17 years that prosecutors had requested. Additional penalties of forfeiture and restitution from Ozy Media will be imposed at a later date. The trial showed that between 2018 and 2021 Watson and Ozy Media co-conspirators orchestrated a scheme to defraud investors out of tens of millions of dollars through fraudulent misrepresentations and omissions about Ozy’s financial performance, including revenue, cash on hand and profit, ongoing business relationships with celebrities, acquisition prospects from high- profile technology and media corporations, contract negotiations and other corporate metrics. Court filing showed that Watson and his co-conspirators, who were being tried separately, lied to prospective investors about who else might be investing in Ozy, the existence and size of acquisition offers received by Ozy, the existence and timing of financing rounds, and the existence and terms of Ozy’s business contracts, directing Ozy employees to create fake contracts with forged signatures to provide in due diligence. One of the strangest claims was that on multiple occasions, when faced with questions from lenders or potential investors, Watson and his co-conspirators assumed the identities of and impersonated actual media company executives to cover up their prior fraudulent misrepresentations. In particular, Ozy co-founder and chief operating officer Samir Rao had misrepresented himself on a call with Goldman Sachs by pretending to be a YouTube executive, Alex Piper. The idea was to put Ozy in a positive light as it sought an investment from the bank. “Watson’s scheme caused actual investor losses in excess of $60 million and intended to deprive potential investors of hundreds of millions more on the basis of his and his co-conspirators’ lies and misrepresentations,” said the U.S. Attorney for the Eastern District of New York in a statement, announcing the sentence. “Carlos Watson orchestrated a years-long, audacious scheme to defraud investors and lenders,” it said. “His incessant and deliberate lies demonstrated not only a brazen disregard for the rule of law, but also a contempt for the values of honesty and fairness that should underlie American entrepreneurship. On far too many occasions, Watson chose deceit over candor, grasping for the illusion of business success and personal acclaim at any cost.” PREVIOUSLY: A jury in federal court in Brooklyn on Tuesday found Ozy Media founder and CEO Carlos Watson guilty of securities fraud, identity fraud and other charges that carry a penalty of up to 37 years in prison. Sentencing is in November. The verdict marks the end of a two-month trial for Watson, who founded the digital news and lifestyle startup in 2012. It seemed to be doing fairly well, a façade that exploded in 2021, when an article in the New York Times revealed that Ozy co-founder and chief operating officer Samir Rao had misrepresented himself on a call with Goldman Sachs by pretending to be a YouTube executive, Alex Piper. The idea was to put Ozy in a positive light as it sought an investment from the bank. The executives lied to Goldman Sachs, saying giant YouTube wanted to buy the rights to The Carlos Watson Show . Watson was also charged with misrepresenting the company’s finances and audience numbers to backers and investors. The revelations were followed by a criminal indictment and Watson’s arrest in February 2023. The site, which had been up and down after the NYT story, shuttered after that. “We decided that I would fake the reference call and pretend to be Alex,” Rao said on the stand, according to news reports today. Rao and former chief of staff Suzee Han both pleaded guilty to charges last year and are cooperating with the government. They were named alongside Watson in a separate SEC lawsuit.
No. 14 ASU, No. 17 Iowa State front-runners for possibly wild Big 12 finishEuronet Worldwide EEFT has been analyzed by 6 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish. The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 3 2 1 0 0 Last 30D 0 1 0 0 0 1M Ago 0 0 0 0 0 2M Ago 2 1 1 0 0 3M Ago 1 0 0 0 0 Analysts have set 12-month price targets for Euronet Worldwide, revealing an average target of $124.5, a high estimate of $136.00, and a low estimate of $110.00. A 0.4% drop is evident in the current average compared to the previous average price target of $125.00. Investigating Analyst Ratings: An Elaborate Study The standing of Euronet Worldwide among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets. Analyst Analyst Firm Action Taken Rating Current Price Target Prior Price Target Rayna Kumar Oppenheimer Raises Outperform $135.00 $121.00 Mayank Tandon Needham Lowers Buy $120.00 $125.00 Andrew Schmidt Citigroup Lowers Neutral $110.00 $118.00 Peter Heckmann DA Davidson Maintains Buy $136.00 $136.00 Rayna Kumar Oppenheimer Announces Outperform $121.00 - Mayank Tandon Needham Maintains Buy $125.00 $125.00 Key Insights: Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Euronet Worldwide. This insight gives a snapshot of analysts' perspectives on the current state of the company. Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Euronet Worldwide compared to the broader market. Price Targets: Delving into movements, analysts provide estimates for the future value of Euronet Worldwide's stock. This analysis reveals shifts in analysts' expectations over time. To gain a panoramic view of Euronet Worldwide's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table. Stay up to date on Euronet Worldwide analyst ratings. Discovering Euronet Worldwide: A Closer Look Euronet Worldwide Inc is a provider of electronic financial transaction solutions. The company operates an independent network of ATMs in Europe, along with a network for prepaid products such as mobile top-ups, and processes point-of-sale transactions. It operates in three segment EFT Processing Segment, epay Segment, and Money Transfer Segment. Its segment revenue comes from by operating income, electronical financial transaction processing, mainly generates revenue from monthly ATM management fees and currency conversion transactions. It generates the majority if its geographic revenue from the United States of America. Breaking Down Euronet Worldwide's Financial Performance Market Capitalization: With restricted market capitalization, the company is positioned below industry averages. This reflects a smaller scale relative to peers. Revenue Growth: Euronet Worldwide's remarkable performance in 3 months is evident. As of 30 September, 2024, the company achieved an impressive revenue growth rate of 9.49% . This signifies a substantial increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Financials sector. Net Margin: Euronet Worldwide's net margin falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of 13.78%, the company may face hurdles in effective cost management. Return on Equity (ROE): Euronet Worldwide's ROE excels beyond industry benchmarks, reaching 11.77% . This signifies robust financial management and efficient use of shareholder equity capital. Return on Assets (ROA): Euronet Worldwide's ROA stands out, surpassing industry averages. With an impressive ROA of 2.45% , the company demonstrates effective utilization of assets and strong financial performance. Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 1.78 , caution is advised due to increased financial risk. Understanding the Relevance of Analyst Ratings Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter. Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders. Which Stocks Are Analysts Recommending Now? Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. Click here to stay ahead of the market . This article was generated by Benzinga's automated content engine and reviewed by an editor. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
NoneYouTube on Tuesday announced a partnership with Century City-based talent representation firm Creative Artists Agency that will help actors and athletes better manage their digital likenesses in AI generated content. Next year, actors and athletes from the NBA and NFL will have access to technology that will identify AI-generated content on YouTube that features their digital likeness, including their faces, and give them the option of requesting it is removed through a privacy complaint process, YouTube said. The popular video platform, which is owned by search giant Google, said this is part of a larger testing effort for its likeness management technology. “By collaborating with CAA, we’ll gain insight from some of the world’s most influential figures—some of whom have been significantly impacted by the latest waves of AI innovation—to refine our product before releasing it to a wider group of creators and artists,” YouTube said in a blog post . YouTube said in the next few months it will announce other testing cohorts, including top YouTube creators and creative professionals. “In the days ahead, we’ll work with CAA to ensure artists and creators experience the incredible potential of AI while also maintaining creative control over their likeness,” YouTube CEO Neal Mohan said in a statement. “This partnership marks a significant step toward building that future.” Many people in Hollywood have expressed concerns regarding the growth of AI, AI’s impact on jobs and how artists will get compensated for AI’s usage of their likeness. There have also been worries expressed about the proliferation of deepfakes , including fake videos depicting celebrities endorsing or doing activities that they did not actually do. A ChatGPT voice, Sky, used by OpenAI stirred controversy earlier this year. CAA client and “Black Widow” actor Scarlett Johansson raised concerns that the San Francisco-based AI firm used her voice in a demo without her permission. OpenAI said it used another actor’s voice but took it down. CAA has made efforts to protect the rights of its clients, including launching the CAAvault last year for its clients, which scans clients’ bodies and records their movements and voices to create a digital version of them. Those who wish to participate will be able to create and own their own digital likenesses, which the agency believes will help protect those clients against copyright infringement and allow talent to make more money. The agency said at this time it is not disclosing the names or number of client participants that will access the technology as part of the YouTube partnership. CAA’s clients include George Clooney, Brad Pitt and Nicole Kidman. “At CAA, our AI conversations are centered around ethics and talent rights, and we applaud YouTube’s leadership for creating this talent-friendly solution, which fundamentally aligns with our goals,” said CAA Chief Executive Bryan Lourd in a statement. “We are proud to partner with YouTube as it takes this significant step in empowering talent with greater control over their digital likeness and how and where it is used.”NEW YORK — The Jets (3-9) have suffered from a horrific season, but the hits keep coming. On Friday afternoon, Jets interim coach Jeff Ulbrich announced linebacker C.J. Mosley will be placed on injured reserve after being out the previous four weeks because of a herniated disk in his neck. With five games remaining, Mosley’s time with the Jets could be over. “A hard decision by a very (prideful) player, amazing player and leader,” Ulbrich said on Friday afternoon. “It was not an easy decision for him, but it is the best decision in our organization.” Mosley, 32, has been absent since the Jets’ Week 8 loss to the Patriots. The veteran linebacker injured his neck during pregame warmups ahead of the game and hasn’t played since. Before that, Mosley injured his big toe in Week 2 against the Titans and missed three games. With a new regime set to come in after coach Robert Saleh and general manager Joe Douglas were fired during the season, Mosley’s time with the organization is likely over. He is under contract next year but has a $12.8 million cap number. If the Jets release Mosley with a June 1 designation, they would save $4 million. In 2019, Mosley signed a five-year, $85 million deal with the Jets. However, he only played in two games that season due to a groin injury. He missed the entire 2020 season after opting out because of the COVID-19 pandemic. Since 2021, Mosley has been the Jets’ defensive leader. He has registered 495 tackles and 3.5 sacks during that span. He was also a 2022 second-team All-Pro and a 2022 Pro Bowler during that time. In addition to Mosley being out against the Dolphins, cornerback Sauce Gardner (hamstring) and running back Breece Hall (knee) are doubtful to play. Ulbrich told reporters that right tackle Morgan Moses (knee, shoulder) and right guard Alijah Vera-Tucker (ankle) are “trending in the right direction.” Hall’s injury dates back to the Jets’ loss to the Colts in Week 11 after a hyperextension of his knee, which according to Ulbrich, was “not feeling right.” Gardner injured his hamstring against the Seahawks during the second half. With Hall likely not able to play Sunday, rookies Braelon Allen and Isaiah Davis will likely receive more carries against Miami. “Two rookies and Kene [Nwangwu], all three,” Ulbrich said about his running back unit against the Dolphins. “So, we hate to overuse a word, but we are fortunate in that way from the running back depth minus Breece, who from my opinion is one of the best running backs in this league. “We still have one of the best running back rooms in the NFL without him.” Thomas nominated for Payton award All 32 teams announced their nominees for this year’s Walter Payton NFL Man of the Year Award on Thursday. For the third consecutive season, defensive tackle Solomon Thomas was the Jets’ nominee. The award will be handed out during the NFL Honors ceremony on Feb. 6 in New Orleans. “It’s a huge honor,” Thomas said on Thursday. “I think it’s one of the highest honors in the league and the highest honor from the team and your community for the work that you do, it means the world. I truly believe we are here to make a difference and influence other people and make an impact. “I think as NFL players and professional athletes, we have a platform that’s given to us like no other. We have to use this platform to take advantage of it. It is something that has been instilled in me from my peers, my veterans in my family, my loved ones, and my girlfriend. To take advantage of that and be recognized for it, it means the world. You never do it for the recognition, you never do it for the award, you do it to impact and to change lives. But to be recognized means a lot.” Thomas is a co-founder of The Defensive Line, which is dedicated to his sister, Ella Elizabeth Thomas, who died by suicide at 24 years old. The mission of Thomas’ charity is to end youth suicide and raise awareness about mental health. In addition, Thomas works with organizations such as the Clinton Global Initiative, the American Foundation for Suicide Prevention and the Crisis Text Line. Last month, Thomas partnered with the Interfaith Food Pantry Network to host a Thanksgiving event supporting needy families. He helped provide 5,600 meals to Morris County residents in New Jersey facing hunger. Thomas also donated $8,000 to the Interfaith Food Network. “I really just wish the NFL would let all 32 guys win. Every individual does a different job and it is amazing. All of these guys impact the community in a tremendous way. They give back in a tremendous way whether it’s money donations, time, their foundations, just their effort putting a smile on people’s faces, giving people hope, there’s so many guys that make a big difference. I wish every guy can come out winning because they all deserve a trophy and they all deserve to win.” Nwangwu wins special teams honor In his first game with the Jets, Kene Nwangwu was honored after his terrific play against the Seahawks. Nwangwu was named the AFC Special Teams Player of the Week for Week 13. After being called up from the practice squad Saturday and signed to the active roster Monday, Nwangwu registered a 99-yard kick-return touchdown and forced a fumble during the Jets’ 26-21 loss to the Seahawks. “It felt good making a play,” Nwangwu said. “Getting that award, I think they usually give it out to for explosive plays and consistent plays, so that felt good.” The Vikings initially selected Nwangwu out of Iowa State in the fourth round in 2021. He led the league with two return touchdowns as a rookie. Nwangwu’s four return touchdowns are the second most among active NFL players. The Vikings waived Nwangwu last August and he was signed to the Jets practice squad in September after failing a physical with the Saints. “Guy shows up and does everything that we ask him to do, he has a smile on his face all the time,” Jets special teams coach Brant Boyer said about Nwangwu. “When a veteran player is put on the practice squad like that, I think that’s a really good lesson for, and I told the guys this, that I think it’s a really good lesson for any young player, or any veteran player for that matter. The guy did nothing but keep his head down, and keep working, and good things happen to people like that, and you know, he wasn’t over there sulking about his lack of playing time, he wasn’t sulking about not being on the active roster, he was working his butt off, and then when you get your opportunity, you make the most of it. And he certainly did, and that’s a credit to the kid and the way he prepares, and we’re happy to have him for sure.” ©2024 New York Daily News. Visit nydailynews.com . Distributed by Tribune Content Agency, LLC.
Dana Hull | (TNS) Bloomberg News Jared Birchall, Elon Musk’s money manager and the head of his family office, is listed as the chief executive officer. Jehn Balajadia, a longtime Musk aide who has worked at SpaceX and the Boring Co., is named as an official contact. Related Articles National Politics | Trump’s picks for top health jobs not just team of rivals but ‘team of opponents’ National Politics | Biden will decide on US Steel acquisition after influential panel fails to reach consensus National Politics | Biden vetoes once-bipartisan effort to add 66 federal judgeships, citing ‘hurried’ House action National Politics | An analyst looks ahead to how the US economy might fare under Trump National Politics | Trump again calls to buy Greenland after eyeing Canada and the Panama Canal But they’re not connected to Musk’s new technology venture, or the political operation that’s endeared him to Donald Trump. Instead, they’re tied to the billionaire’s new Montessori school outside Bastrop, Texas, called Ad Astra, according to documents filed with state authorities and obtained via a Texas Public Information Act request. The world’s richest person oversees an overlapping empire of six companies — or seven, if you include his political action committee. Alongside rockets, electric cars, brain implants, social media and the next Trump administration, he is increasingly focused on education, spanning preschool to college. One part of his endeavor was revealed last year, when Bloomberg News reported that his foundation had set aside roughly $100 million to create a technology-focused primary and secondary school in Austin, with eventual plans for a university. An additional $137 million in cash and stock was allotted last year, according to the most recent tax filing for the Musk Foundation. Ad Astra is closer to fruition. The state documents show Texas authorities issued an initial permit last month, clearing the way for the center to operate with as many as 21 pupils. Ad Astra’s website says it’s “currently open to all children ages 3 to 9.” The school’s account on X includes job postings for an assistant teacher for preschool and kindergarten and an assistant teacher for students ages 6 to 9. To run the school, Ad Astra is partnering with a company that has experience with billionaires: Xplor Education, which developed Hala Kahiki Montessori school in Lanai, Hawaii, the island 98% owned by Oracle Corp. founder Larry Ellison. Ad Astra sits on a highway outside Bastrop, a bedroom community about 30 miles from Austin and part of a region that’s home to several of Musk’s businesses. On a visit during a recent weekday morning, there was a single Toyota Prius in the parking lot and no one answered the door at the white building with a gray metal roof. The school’s main entrance was blocked by a gate, and there was no sign of any children on the grounds. But what information there is about Ad Astra makes it sound like a fairly typical, if high-end, Montessori preschool. The proposed schedule includes “thematic, STEM-based activities and projects” as well as outdoor play and nap time. A sample snack calendar features carrots and hummus. While Birchall’s and Balajadia’s names appear in the application, it isn’t clear that they’ll have substantive roles at the school once it’s operational. Musk, Birchall and Balajadia didn’t respond to emailed questions. A phone call and email to the school went unanswered. Access to high quality, affordable childcare is a huge issue for working parents across the country, and tends to be an especially vexing problem in rural areas like Bastrop. Many families live in “childcare deserts” where there is either not a facility or there isn’t an available slot. Opening Ad Astra gives Musk a chance to showcase his vision for education, and his support for the hands-on learning and problem solving that are a hallmark of his industrial companies. His public comments about learning frequently overlap with cultural concerns popular among conservatives and the Make America Great Again crowd, often focusing on what he sees as young minds being indoctrinated by teachers spewing left-wing propaganda. He has railed against diversity, equity and inclusion efforts, and in August posted that “a lot of schools are teaching white boys to hate themselves.” Musk’s educational interests dovetail with his new role as Trump’s “first buddy.” The billionaire has pitched a role for himself that he — and now the incoming Trump administration — call “DOGE,” or the Department of Government Efficiency. Though it’s not an actual department, DOGE now posts on X, the social media platform that Musk owns. “The Department of Education spent over $1 billion promoting DEI in America’s schools,” the account posted Dec. 12. Back in Texas, Bastrop is quickly becoming a key Musk point of interest. The Boring Co., his tunneling venture, is based in an unincorporated area there. Across the road, SpaceX produces Starlink satellites at a 500,000-square-foot (46,000-square-meter) facility. Nearby, X is constructing a building for trust and safety workers. Musk employees, as well as the general public, can grab snacks at the Boring Bodega, a convenience store housed within Musk’s Hyperloop Plaza, which also contains a bar, candy shop and hair salon. Ad Astra is just a five-minute drive away. It seems to have been designed with the children of Musk’s employees — if not Musk’s own offspring — in mind. Musk has fathered at least 12 children, six of them in the last five years. “Ad Astra’s mission is to foster curiosity, creativity, and critical thinking in the next generation of problem solvers and builders,” reads the school’s website. A job posting on the website of the Montessori Institute of North Texas says “While their parents support the breakthroughs that expand the realm of human possibility, their children will grow into the next generation of innovators in a way that only authentic Montessori can provide.” The school has hired an executive director, according to documents Bloomberg obtained from Texas Health and Human Services. Ad Astra is located on 40 acres of land, according to the documents, which said a 4,000-square-foot house would be remodeled for the preschool. It isn’t uncommon for entrepreneurs to take an interest in education, according to Bill Gormley, a professor emeritus at the McCourt School of Public Policy at Georgetown University who studies early childhood education. Charles Butt, the chairman of the Texas-based H-E-B grocery chain, has made public education a focus of his philanthropy. Along with other business and community leaders, Butt founded “Raise Your Hand Texas,” which advocates on school funding, teacher workforce and retention issues and fully funding pre-kindergarten. “Musk is not the only entrepreneur to recognize the value of preschool for Texas workers,” Gormley said. “A lot of politicians and business people get enthusiastic about education in general — and preschool in particular — because they salivate at the prospect of a better workforce.” Musk spent much of October actively campaigning for Trump’s presidential effort, becoming the most prolific donor of the election cycle. He poured at least $274 million into political groups in 2024, including $238 million to America PAC, the political action committee he founded. While the vast majority of money raised by America PAC came from Musk himself, it also had support from other donors. Betsy DeVos, who served as education secretary in Trump’s first term, donated $250,000, federal filings show. The Department of Education is already in the new administration’s cross hairs. Trump campaigned on the idea of disbanding the department and dismantling diversity initiatives, and he has also taken aim at transgender rights. “Rather than indoctrinating young people with inappropriate racial, sexual, and political material, which is what we’re doing now, our schools must be totally refocused to prepare our children to succeed in the world of work,” Trump wrote in Agenda 47, his campaign platform. Musk has three children with the musician Grimes and three with Shivon Zilis, who in the past was actively involved at Neuralink, his brain machine interface company. All are under the age of five. Musk took X, his son with Grimes, with him on a recent trip to Capitol Hill. After his visit, he shared a graphic that showed the growth of administrators in America’s public schools since 2000. Musk is a fan of hands-on education. During a Tesla earnings call in 2018, he talked about the need for more electricians as the electric-car maker scaled up the energy side of its business. On the Joe Rogan podcast in 2020, Musk said that “too many smart people go into finance and law.” “I have a lot of respect for people who work with their hands and we need electricians and plumbers and carpenters,” Musk said while campaigning for Trump in Pennsylvania in October. “That’s a lot more important than having incremental political science majors.” Ad Astra’s website says the cost of tuition will be initially subsidized, but in future years “tuition will be in line with local private schools that include an extended day program.” “I do think we need significant reform in education,” Musk said at a separate Trump campaign event. “The priority should be to teach kids skills that they will find useful later in life, and to leave any sort of social propaganda out of the classroom.” With assistance from Sophie Alexander and Kara Carlson. ©2024 Bloomberg News. Visit at bloomberg.com. Distributed by Tribune Content Agency, LLC.ComfortDelGro sets commission from cabbies at 70c per ride for 3 months
Family searching for missing package sent by uncle just days before his deathRatings for Essential Props Realty EPRT were provided by 11 analysts in the past three months, showcasing a mix of bullish and bearish perspectives. In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 4 3 4 0 0 Last 30D 0 0 1 0 0 1M Ago 1 2 0 0 0 2M Ago 3 1 1 0 0 3M Ago 0 0 2 0 0 Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $35.39, along with a high estimate of $40.00 and a low estimate of $32.00. This current average reflects an increase of 5.48% from the previous average price target of $33.55. Exploring Analyst Ratings: An In-Depth Overview The standing of Essential Props Realty among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets. Analyst Analyst Firm Action Taken Rating Current Price Target Prior Price Target Greg McGinniss Scotiabank Raises Sector Perform $33.00 $32.00 Michael Goldsmith UBS Raises Buy $40.00 $39.00 Vikram Malhorta Mizuho Raises Outperform $35.00 $31.00 Connor Siversky Wells Fargo Lowers Overweight $34.00 $37.00 Michael Goldsmith UBS Raises Buy $39.00 $36.00 Greg McGinniss Scotiabank Raises Sector Perform $32.00 $30.00 Ki Bin Kim Truist Securities Raises Buy $36.00 $33.00 Connor Siversky Wells Fargo Raises Overweight $37.00 $34.00 Simon Yarmak Stifel Raises Buy $36.25 $32.00 Sheila McGrath Evercore ISI Group Raises In-Line $34.00 $33.00 Sheila McGrath Evercore ISI Group Raises In-Line $33.00 $32.00 Key Insights: Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Essential Props Realty. This information provides a snapshot of how analysts perceive the current state of the company. Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Essential Props Realty compared to the broader market. Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Essential Props Realty's stock. This comparison reveals trends in analysts' expectations over time. Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Essential Props Realty's market standing. Stay informed and make well-considered decisions with our Ratings Table. Stay up to date on Essential Props Realty analyst ratings. All You Need to Know About Essential Props Realty Essential Properties Realty Trust Inc is a real estate investment trust. It is an internally managed real estate company acquires, owns and manages single-tenant properties that are net leased on a long-term basis to middle-market companies operating service-oriented or experience-based businesses. Essential Props Realty: Financial Performance Dissected Market Capitalization: Surpassing industry standards, the company's market capitalization asserts its dominance in terms of size, suggesting a robust market position. Revenue Growth: Essential Props Realty's remarkable performance in 3 months is evident. As of 30 September, 2024, the company achieved an impressive revenue growth rate of 27.79% . This signifies a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Real Estate sector. Net Margin: Essential Props Realty's net margin is impressive, surpassing industry averages. With a net margin of 41.85%, the company demonstrates strong profitability and effective cost management. Return on Equity (ROE): Essential Props Realty's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 1.52% ROE, the company effectively utilizes shareholder equity capital. Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 0.91%, the company showcases effective utilization of assets. Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.69 . The Significance of Analyst Ratings Explained Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter. Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors. If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in Benzinga Pro . Which Stocks Are Analysts Recommending Now? Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. Click here to stay ahead of the market . This article was generated by Benzinga's automated content engine and reviewed by an editor. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Fort Lauderdale, FL, Dec. 06, 2024 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. ("Algorhythm” or the "Company”) (NASDAQ: RIME), an AI-driven technology and consumer electronics holding company, announced today the closing of its previously announced public offering with gross proceeds to the Company of approximately $9.5 million, before deducting placement agent fees and other estimated expenses payable by the Company. The offering comprised of 55,882,352 shares of the Company's common stock (or pre-funded warrants in lieu of shares of common stock). Each share of common stock or pre-funded warrant was sold with one Series A Warrant to purchase one share of common stock at an exercise price of $0.17 per share (the "Series A Warrants”) and one Series B Warrant to purchase one share of common stock at an exercise price of $0.34 per share (the "Series B Warrants” and, together with the Series A Warrants, the "Warrants”). The Warrants will become exercisable upon the approval of the Company's stockholders of the issuance of the shares of common stock issuable upon exercise of the Warrants, and certain other provisions of the Warrants. The Series A Warrants will expire on the five-year anniversary of its initial exercise date and the Series B Warrants will expire on the two and one-half-year anniversary of its initial exercise date. The purchase price of each share of common stock and accompanying Warrants was $0.17, and the purchase price of each pre-funded warrant and accompanying Warrants was such price minus $0.01. The Company intends to use the net proceeds from this offering for working capital and other general corporate purposes, and for repayment of certain outstanding senior secured notes of the Company. Univest Securities, LLC is acting as sole placement agent for the offering. The securities described above are being offered by the Company pursuant to a registration statement on Form S-1 (File No. 333283178) (the "Registration Statement”) previously filed and declared effective by the Securities and Exchange Commission (the "SEC”). This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. The offering is being made only by means of a prospectus which is a part of the Registration Statement. A final prospectus relating to the offering has been filed with the SEC and is available on the SEC's website at www.sec.gov . Electronic copies of the final prospectus relating to this offering may be obtained, when available, by contacting Univest Securities, LLC at [email protected] , or by calling +1 (212) 343-8888. About Algorhythm Holdings Algorhythm Holdings, Inc. is a holding company with two primary investments. First, the Company owns SemiCab Holdings, an emerging leader in the AI-enabled global logistics industry. Second, the Company owns The Singing Machine Company, the worldwide leader in the consumer karaoke industry. SemiCab is a cloud-based Collaborative Transportation Platform built to achieve the scalability required to predict and optimize millions of loads and hundreds of thousands of trucks. To orchestrate collaboration across manufacturers, retailers, distributors, and their carriers, SemiCab uses real-time data from API-based load tendering and pre-built integrations with TMS and ELD partners. To build fully loaded round trips, SemiCab uses AI/ML predictions and advanced predictive optimization models. On the SemiCab platform, shippers pay less and carriers make more while not having to change a thing. Since 2020, SemiCab has enabled major retailers, brands and transportation providers to address these common supply-chain problems globally. SemiCab's Orchestrated Collaboration TM AI model has proven to increase transportation capacity, improve asset utilization, reduce empty miles, lower logistics costs, and provide visibility into the entire transportation network. Models show the technology has the capability of saving shippers tens of billions of dollars annually through optimization. Further, SemiCab's technology also has the potential to play a key role in the improved sustainability model globally. Based on its proven ability to improve truck utilization rates from 65% to over 90%, this results in a dramatic reduction in the carbon footprint of the industry. The optimization of existing truck utilization can add approximately 30% more trucking capacity without adding more trucks, drivers or driven miles which addresses common problems plaguing the industry like severe driver shortage and road congestion. Trucking optimization could also eliminate approximately 25% of CO2 emissions attributable to road freight. For additional information regarding SemiCab: http://www.semicab.com The Singing Machine Company, Inc. is the worldwide leader in consumer karaoke products. Based in Fort Lauderdale, Florida, and founded over forty years ago, the Company designs and distributes the industry's widest assortment of at-home and in-car karaoke entertainment products. Their portfolio is marketed under both proprietary brands and popular licenses, including Carpool Karaoke and Sesame Street. Singing Machine products incorporate the latest technology and provide access to over 100,000 songs for streaming through its mobile app and select WiFi-capable products and is also developing the world's first globally available, fully integrated in-car karaoke system. The Company also has a new philanthropic initiative, CARE-eoke by Singing Machine , to focus on the social impact of karaoke for children and adults of all ages who would benefit from singing. Their products are sold in over 25,000 locations worldwide, including Amazon, Costco, Sam's Club, Target, and Walmart. To learn more, go to www.singingmachine.com . Investor Relations Contact: [email protected] www.algoholdings.com Forward Looking Statements This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements are subject to considerable risks and uncertainties. The Company intends such forward-looking statements to be covered by the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this press release, including statements about our beliefs and expectations, are "forward-looking statements" and should be evaluated as such. Forward-looking statements may be identified by words such as "anticipates,” "believes,” "estimates,” "expects,” "intends,” "may,” "plans,” "projects,” "seeks,” "should,” "suggest”, "will,” and similar expressions. Forward-looking statements in this press release include, without limitation, statements relating to the timing, size and expected gross proceeds of the Offering, the completion of the Offering, the satisfaction of customary closing conditions related to the Offering and sale of securities, the Company's ability to complete the Offering, and the intended use of proceeds from the Offering. The Company has based these forward-looking statements on its current expectations and projections about future events. Forward-looking statements are subject to and involve risks, uncertainties, and assumptions that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements predicted, assumed or implied by such forward-looking statements, including, without limitation, risks, uncertainties and assumptions related to market conditions and the satisfaction of closing conditions related to the Offering, risks disclosed in the section titled "Risk Factors” included in the Registration Statement on Form S-1 initially filed with the SEC on November 12, 2024, and risks disclosed under item 1A. "Risk Factors” in the Company's most recently filed Form 10-KT filed with the SEC and the Company's Quarterly Reports on Form 10-Q. This press release speaks as of the date indicated above. The Company undertakes no obligation and expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.Peeling Back The Layers: Exploring Essential Props Realty Through Analyst Insights
Elon Musk’s preschool is the next step in his anti-woke education dreams