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Black Disney Princess Ride Replaces Splash Mountain and Its Racist History 2024-06-11 15:46:39+00:00 - In the summer of 2020, as a reckoning on racial justice swept the country, Disney said it would rip out Splash Mountain, a wildly popular flume ride with a racist back story. Some people cheered, saying the move was long overdue: After 31 years at Disneyland in California and 28 at Walt Disney World in Florida, the attraction — with its animal minstrels from “Song of the South,” the radioactive 1946 movie — had to go. But Disney also faced blowback. Last year, when Splash Mountain finally closed, someone started a makeshift memorial near its entrance — the kind that pops up at scenes of horrific crimes. Distraught fans spirited away jars of the water. More than 100,000 fans signed a petition calling on Disney to reverse its “absurd” decision.

Chiquita Held Liable for Deaths During Colombian Civil War 2024-06-11 15:46:29+00:00 - A jury in South Florida has ruled that Chiquita Brands is liable for eight killings carried out by a right-wing paramilitary group that the company helped finance in a fertile banana-growing region of Colombia during the country’s decades-long internal conflict. The jury on Monday ordered the multinational banana producer to pay $38.3 million to 16 family members of farmers and other civilians who were killed in separate episodes by the United Self-Defense Forces of Colombia — a right-wing paramilitary group that Chiquita bankrolled from 1997 to 2004. The company has faced hundreds of similar suits in U.S. courts filed by the families of other victims of violence by the paramilitary group in Colombia, but the verdict in Florida represents the first time Chiquita has been found culpable. The decision, which the company said it planned to appeal, could influence the outcome in other suits, legal experts said.

Top 3 High-Yield Stocks with Strong Analyst Ratings 2024-06-11 15:17:00+00:00 - Dividend stocks are among the most attractive on Wall Street because they pay you to own them. However, not all dividend stocks are equal, so it takes more than a distribution and some attractive metrics to make them a good buy. This is a look at three dividend stocks that also get high ratings from analysts. They are ranked highly on MarketBeat’s Top Rated Dividend Stocks list because of their safe payments and analysts' sentiment. All come with a rating of 3.0 or higher, which equates to a Buy or Better rating, have an outlook for at least a double-digit upside, and pay market-beating yields. This combination can deliver market-beating total returns for investors. Get Atlas Energy Solutions alerts: Sign Up Upbound Group: A High-Yielding Deep Value Upbound Group Today UPBD Upbound Group $32.28 -0.54 (-1.65%) 52-Week Range $25.00 ▼ $36.17 Dividend Yield 4.58% Price Target $39.14 Add to Watchlist Upbound Group NASDAQ: UPBD is a deep value for investors, trading at only 8.75x earnings. Sentiment is firm, and the consensus price target, which implies a 20% upside, is rising. The latest update comes from BTIG, which initiated at Buy and set its target at $45, setting a new high-end for the market. The Buy-rated stock has come under pressure this year but shows solid support at the low end of the analysts' range, which investors can assume is the price floor. Among the market drivers are the company’s recent outperformance, return to growth, cash flow, and outlook. The outlook includes persistent growth and margin expansion. Capital returns from Upbound Group are robust. The dividend, which is only 40% of this year’s earnings outlook, runs about 4.5% in yield, with shares at the low end of their trading range. The distribution growth is erratic but present, so investors may expect another increase this year or early 2025. The balance sheet is healthy, with low leverage near 2x equity, allowing for share repurchases. The share count is down about 1% on average at the end of FQ1 and should continue to fall this year. Atlas Energy Can Set a New High Soon Atlas Energy Solutions Today AESI Atlas Energy Solutions $21.08 -0.17 (-0.80%) 52-Week Range $15.55 ▼ $24.93 Dividend Yield 3.04% P/E Ratio 11.71 Price Target $26.00 Add to Watchlist Buy-rated Atlas Energy Solutions NYSE: AESI yields an attractive 3.5% and provides value at 9.5x earnings. The company serves the oilfield industry in the Permian Basin and Texas, providing mesh and sand for the well-completion process. In business since 2017, the company has been growing in leaps and bounds while profiting for investors. Among the latest earnings report details are 25% top-line growth offset by margin compression. However, the margin compression is due to accretive acquisition and business investment already paying off by improving scale and leverage. The Q1 report led two analysts to revise their targets higher. The two new targets are above the consensus, leading the market to the high end of the range, which would be a new all-time high. Regardless, the consensus estimate is worth an 18% upside and a new all-time high. The balance sheet highlights an increase in debt and liabilities offset by increased receivables, inventory, property, and goodwill, which has left equity up. Leverage is slightly elevated at 4x equity, but this is not a red flag considering the cause. The company’s acquisitions of Hi-Crush and investment in the Dune Express will quickly improve revenue, cash flow, earnings, and leverage. The Dune Express will be a game changer for the company, improving efficiency, safety, and emissions. Copa: The Only Airline You Need To Own Copa Today CPA Copa $95.50 +1.17 (+1.24%) 52-Week Range $78.12 ▼ $121.20 Dividend Yield 6.74% P/E Ratio 6.87 Price Target $154.43 Add to Watchlist Copa NYSE: CPA isn’t the largest airline in the world, but its valuation, yield, outlook, and analyst sentiment make it the best in breed for the sector. The company is focused on the rapidly growing and gentrifying Latin American market, helping it sustain growth, widen margins and pay dividends. This stock carries the highest rating and yield of any on this list, 3.25 and 5.1%, making it an attractive high-yield play across industries and sectors. The latest earnings report spurred the analysts to raise their targets. MarketBeat.com tracks four revisions that are leading the market above the consensus, which offers a substantial 60% upside. Before you consider Atlas Energy Solutions, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Atlas Energy Solutions wasn't on the list. While Atlas Energy Solutions currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here

Biden Nears Pick for Next F.D.I.C. Chair 2024-06-11 15:14:01+00:00 - Three weeks after President Biden vowed to pick a new leader for the Federal Deposit Insurance Corporation, the bank regulator shaken by a vast workplace abuse scandal, a front-runner has emerged: Christy Goldsmith Romero, who sits on the five-member Commodity Futures Trading Commission, according to two people with knowledge of the administration’s thinking. Ms. Goldsmith Romero is a lawyer who, after the financial crisis, spent more than 12 years in an office created by Congress to investigate fraud and other misconduct by banks that received money from the government’s roughly $450 billion crisis rescue package, the Troubled Asset Relief Program. From 2011 to 2022, Ms. Goldsmith Romero led the office as the special inspector general for the program. Her work exposing fraud, which often put her at odds with not only bankers but also some government officials who were concerned about the potential damage it would do to overall public opinion of the bailout, has made her especially appealing for the job of cleaning up the F.D.I.C., said the people, who asked for anonymity to discuss the matter. Mr. Biden has not made a final decision. Ms. Goldsmith Romero’s position as the front-runner for the job was first reported by The Wall Street Journal.

3 Stocks to Watch: Chip Shortage Impact on Industries 2024-06-11 14:58:00+00:00 - Late 2020 marked the onset of a severe global chip shortage, which had far-reaching repercussions throughout the interconnected world economy. The chip shortage stemmed from multiple factors, including pandemic-related disruptions, surging demand for electronics, and pre-existing supply chain vulnerabilities. These factors exposed the critical importance of semiconductors in virtually every industry sector globally. From automotive, manufacturing, and consumer electronics to healthcare and telecommunications, industries worldwide grappled with production delays, rising costs, and an uncertain future. Furthermore, escalating geopolitical tensions, particularly between the US and China, introduce a new layer of complexity to the strained global chip market. These tensions have manifested in trade restrictions, technological competition, and growing concerns about supply chain security, further highlighting the strategic importance of semiconductors in the 21st century. Get TSM alerts: Sign Up TSMC: A Foundry Leader Taiwan Semiconductor Manufacturing Today TSM Taiwan Semiconductor Manufacturing $165.71 -2.45 (-1.46%) 52-Week Range $84.01 ▼ $169.84 Dividend Yield 1.04% P/E Ratio 31.56 Price Target $162.00 Add to Watchlist At the heart of the global semiconductor industry lies Taiwan Semiconductor Manufacturing Company NYSE: TSM (TSMC), the world's largest and most advanced semiconductor foundry. A semiconductor foundry manufactures chips designed by other companies, acting as a specialized factory for the semiconductor industry. Foundries are crucial because they allow companies to design and sell chips without investing in expensive fabrication facilities, fostering innovation and competition in the semiconductor market. TSMC's dominance stems from its unparalleled expertise in manufacturing chips designed by other companies, enabling a vast ecosystem of fabless semiconductor companies to thrive. TSMC’s earnings report for Q1 showed a consolidated revenue of approximately $18.87 billion (converted from the reported New Taiwan Dollar), marking a 16.5% increase year-over-year, though a 5.3% decline from the previous quarter. The company attributed this decline to typical smartphone seasonality, partially offset by persistent demand for high-performance computing (HPC) applications. High-performance computing (HPC) involves using powerful computer systems to solve complex problems that require massive processing power and data analysis. The demand for HPC is rapidly increasing due to its growing applications in artificial intelligence, scientific research, drug discovery, financial modeling, and other data-intensive fields. TSMC’s advanced process technologies, particularly its 3nm and 5nm nodes, are in high demand, reflecting the industry's relentless pursuit of smaller, faster, and more efficient chips. These leading-edge nodes, accounting for 65% of TSMC's total wafer revenue in Q1 2024, are crucial for powering next-generation smartphones, data centers, and AI applications. Looking forward, TSMC expects strong demand for these advanced nodes to continue, partially offset by continued smartphone seasonality, leading to a projected revenue of between $19.6 billion and $20.4 billion for Q2 2024. The company remains committed to expanding its production capacity to meet the ever-growing global semiconductor demand. Intel: Regaining Market Share and Expanding Domestic Manufacturing Intel Corporation NASDAQ: INTC was once synonymous with semiconductor manufacturing, but the company has faced significant challenges in recent years. Intel has lost ground to competitors like TSMC and Samsung in process technology and market share. However, under the leadership of CEO Pat Gelsinger, Intel is embarking on an ambitious turnaround strategy to reclaim its position as a leader in chip manufacturing. Intel Today INTC Intel $30.92 +0.01 (+0.03%) 52-Week Range $29.73 ▼ $51.28 Dividend Yield 1.62% P/E Ratio 32.21 Price Target $39.58 Add to Watchlist Intel's "IDM 2.0" initiative is central to this strategy, which involves substantial investments in internal manufacturing capacity and external foundry partnerships. Intel is also investing heavily in new fabrication facilities (fabs) in the United States, a move driven by both economic and national security considerations. This expansion aims to bolster domestic chip production, address supply chain vulnerabilities, and strengthen the US's position in the global semiconductor industry. Intel’s earnings report for Q1 2024 reported revenue of $12.7 billion, a 9% increase year-over-year, exceeding Intel’s analyst community’s expectations. However, the company reported a GAAP net loss of $437 million, or $0.09 per share, partly attributed to ongoing investments in its turnaround strategy and the cyclical nature of the semiconductor industry. Despite these challenges, Intel remains optimistic about its long-term prospects. The company expects to return to year-over-year revenue and non-GAAP EPS growth in fiscal year 2024, driven by its anticipated progress in process technology, increased manufacturing capacity, and growing demand for its products in key markets like data centers and AI. NVIDIA: Capitalizing on The AI Revolution NVIDIA Corporation NASDAQ: NVDA dominates the graphics processing unit (GPU) market. NVIDIA has strategically positioned itself at the forefront of the AI revolution. NVIDIA’s GPUs were originally designed for high-performance graphics in gaming but have since become essential components in data centers, cryptocurrency mining facilities, and AI applications worldwide. The company's "Hopper" architecture for GPUs has set new standards for performance and efficiency in AI training and inference, powering the development of advanced AI models and driving innovation across numerous industries. NVIDIA Today NVDA NVIDIA $120.91 -0.88 (-0.72%) 52-Week Range $38.62 ▼ $195.95 Dividend Yield 0.13% P/E Ratio 7.07 Price Target $115.21 Add to Watchlist NVIDIA’s earnings for Q1 2025 showed the company achieving record revenue of $26.0 billion, a remarkable 18% increase from the previous quarter and an astounding 262% surge year-over-year. This surge was fueled primarily by strong demand for data center products, which generated a record $22.6 billion in revenue, representing a 23% increase from the previous quarter and a 427% leap year-over-year. The company's data center growth is attributed to the accelerating adoption of generative AI, a technology requiring immense computing power, making NVIDIA's GPUs a coveted resource for companies at the forefront of this technological wave. Looking towards the future, NVIDIA is already laying the groundwork for further expansion. The company's next-generation "Blackwell" platform promises even greater performance and efficiency for AI workloads, aiming to solidify NVIDIA's leadership in this rapidly evolving field. Moreover, NVIDIA is targeting new markets with its "Spectrum-X" networking platform, designed to handle the massive data flows required for large-scale AI deployments in data centers reliant solely on Ethernet connectivity. These strategic initiatives, coupled with NVIDIA’s financial performance, underscore NVIDIA's commitment to pushing the boundaries of AI and shaping the future of computing. The Evolving Semiconductor Landscape TSMC, Intel, and NVIDIA tend to grab the spotlight in the semiconductor industry. However, other often-overlooked companies play crucial roles in this intricate ecosystem. Samsung OTCMKTS: SSNLF is a South Korean multinational conglomerate that is considered a formidable player in memory chips and contract chip manufacturing. Competing directly with TSMC in the foundry market, Samsung also holds a significant share of the global memory chip market, a crucial segment for various electronic devices. GlobalFoundries NASDAQ: GFS is a US-based semiconductor foundry that focuses on providing differentiated chip manufacturing services. GlobalFoundries caters to customers seeking specialized solutions or those seeking to diversify their supply chains beyond TSMC. ASML Holding NASDAQ: ASML is a Dutch multinational corporation with a near-monopoly in the extreme ultraviolet (EUV) lithography machines market. These machines are essential for producing the most advanced chips, with TSMC, Samsung, and Intel relying heavily on ASML’s technology to manufacture their cutting-edge semiconductors. These companies' success and innovations will continue to shape the semiconductor landscape, influencing everything from smartphone performance and data center capabilities to the advancement of artificial intelligence. Semiconductor Industry Challenges and Opportunities The semiconductor industry has plenty of opportunities but faces significant challenges that demand careful navigation. Geopolitical tensions, particularly between the US and China, cast a long shadow over the industry. These tensions have resulted in trade restrictions, tariffs, and increased scrutiny of foreign investments in the semiconductor sector, potentially disrupting supply chains and hindering technological collaboration. Moreover, the pursuit of advanced process technologies, while crucial for innovation, is becoming increasingly complex and capital-intensive. The transition to smaller nodes like 2nm and beyond requires substantial investments in research and development, sophisticated manufacturing facilities, and a highly skilled workforce. Attracting and retaining top talent in a competitive market is another significant challenge for the industry. As demand for skilled engineers, technicians, and researchers continues to grow, semiconductor companies must compete for a limited talent pool, potentially driving up labor costs and impacting innovation. Despite these challenges, the semiconductor industry is presented with substantial opportunities for growth and innovation. The relentless advancement of artificial intelligence, for example, drives demand for high-performance chips, creating a lucrative market for companies like NVIDIA specializing in GPUs and accelerated computing. Another significant trend is the rise of edge computing, driven by the need for faster data processing closer to the source. This paradigm shift creates demand for specialized, low-power chips optimized for data analysis and sensor processing at the network's edge. Finally, as environmental, social, and governance (ESG) considerations become increasingly important for investors and consumers, the semiconductor industry faces pressure to improve its sustainability practices. Reducing chip manufacturing's environmental footprint, addressing resource consumption, and promoting ethical sourcing practices are all becoming critical for maintaining a competitive edge and ensuring long-term viability in a world increasingly focused on sustainability. The Future of Chip Manufacturing While showing signs of easing in some areas, the chip shortage is unlikely to be fully resolved in the short term. Lead times for some components remain extended, and the complex interplay of global demand, supply chain dynamics, and geopolitical factors continues to create uncertainty. Semiconductor companies, both established players and emerging contenders, are investing heavily in expanding production capacity, advancing process technologies, and securing their positions in a rapidly evolving market. The fierce competition for market share, innovation, and talent drives further consolidation and strategic partnerships within the industry. As the world increasingly relies on semiconductor technology, the industry's strategic importance will only grow. Governments worldwide recognize semiconductors' critical role in economic competitiveness, national security, and technological advancement, leading to increased investment in domestic chip production and research. The future of chip manufacturing will likely be characterized by rapid technological innovation, geopolitical volatility, and intense competition. Companies that can navigate this complex maze with success will be those that can adapt quickly to changing market dynamics, forge strategic partnerships, and continue to push the boundaries of innovation in the face of both challenges and opportunities. Before you consider Taiwan Semiconductor Manufacturing, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Taiwan Semiconductor Manufacturing wasn't on the list. While Taiwan Semiconductor Manufacturing currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here

Dividend King ABM Industries is on Track for New Highs 2024-06-11 13:15:00+00:00 - Dividend King ABM Industries NYSE: ABM is neither a high-profile stock nor an exciting investment, but that is not why it’s a good buy. A solid, in-demand business steadily growing and widening margins offset the lack of excitement. The margin is critical to this investment as it drives significant cash flow, allowing for self-funded expansion, ultra-safe dividends, distribution growth, and share repurchases. ABM Industries Today ABM ABM Industries $50.61 +0.52 (+1.04%) 52-Week Range $37.61 ▼ $53.05 Dividend Yield 1.78% P/E Ratio 13.25 Price Target $48.80 Add to Watchlist The quality of the investment is seen in its status as a Dividend King. This label speaks volumes regarding foresight, corporate discipline, and the ability to withstand the natural ups and downs of the business cycle. The takeaway is that ABM Industries is a high-quality cash flow machine that returns capital to investors while driving shareholder value, and it is on track to set a new high. Get ABM Industries alerts: Sign Up ABM Industries Post Solid Quarter, Raises EPS Guidance ABM Industries had a solid quarter, producing growth of 2% compared to last year. The $2 billion in revenue aligned with forecasts, which is not a catalyst for higher prices, but the margin is. The top-line growth was driven by a double-digit gain in three of the four operating segments, offset by a small single-digit decline in the office category. Office-related revenue is down due to sluggishness in the industry but offset by margin improvement and earnings quality. Critical details include all-organic growth driven by new and existing business. The margin news is mixed but favorable to shareholders. The GAAP and adjusted margins are down compared to last year due to a one-off in the prior year and an expected increase in spending/CAPEX. The salient point is that the adjusted $0.82 in earnings is down 3% compared to last year but a full 1000 basis points better than the consensus forecast reported by MarketBeat.com. The earnings strength led management to increase the guidance, which catalyzed higher share prices. Guidance for the year is good. The company expects low-single-digit growth, but the Q2 margin strength increased the EPS target. The adjusted EPS target was raised by a dime at the low end and $0.075 at the midpoint, above the analysts' consensus. This led to some upward revisions to the outlook and price targets that support the market. MarketBeat tracks four revisions since the report was released, all of which include upward movement in the price target. The consensus of the four new targets is near $50.50, leading the group to the high end of the target range and the stock price to the high end of its trading range. Cash Flow and Balance Sheet Point to Sustained Capital Return ABM Industries Dividend Payments Dividend Yield 1.78% Annual Dividend $0.90 Dividend Increase Track Record 1 Year Annualized 3-Year Dividend Growth 16.61% Dividend Payout Ratio 23.56% Next Dividend Payment Aug. 5 See Full Details The company’s GAAP and adjusted margins were impacted by spending and one-offs from the previous year, but cash flow and free cash improved. Cash flow is up more than 4x and free cash flow more than 5x, allowing for significant share repurchases and dividend payments. The repurchases in Q2 helped to reduce the average count by 4.7% compared to last year. There is still ample funding left under the current authorization, enough to sustain repurchases for eight quarters at the Q2 pace, which plays into the dividend outlook. Fewer shares reduce the company’s distribution total, allowing for sustained annual increases with or without earnings growth. Regarding the balance sheet, highlights include flat assets, a reduction in debt/liabilities, and a 2.5% increase in equity. Net leverage remains low at 2.3x net, leaving the company in a nimble operating condition to invest in growth and margin-enhancing activity. Range-Bound ABM Industries Heading for the Upper Limits ABM stock has been range-bound for nearly four years as the market digested the social-distancing and COVID-19-inspired gains. With the industry back to organic growth and cash flow rising, the stock is heading to the top of the range with momentum, and it looks like it could retest the upper boundary soon. The caveat is that resistance at $52 could be strong. This level coincides with the high end of the analysts' target range and may cap gains over the next quarter or two. However, assuming the company continues to grow steadily, widen its margin, and repurchase shares as expected, the market should drive this business services stock to a new high by the end of the year. → Top 5 Tech Stocks to Buy for 2024 (From Daily Market Alerts) (Ad) Before you consider ABM Industries, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ABM Industries wasn't on the list. While ABM Industries currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here

FuelCell Energy Ignites Short-Covering Rally, Don’t Buy Into It 2024-06-11 11:40:00+00:00 - FuelCell Energy Today FCEL FuelCell Energy $0.92 -0.06 (-5.84%) 52-Week Range $0.64 ▼ $2.94 Price Target $1.83 Add to Watchlist FuelCell Energy NASDAQ: FCEL is up a solid 20% following its latest earnings release on dubious news and hope. The move confirms a technical reversal in the share price, but the report's detail belies the technical outlook. The downtrend will likely continue because the stock is well below its downtrend line, with losses widening. The takeaway is that FuelCell Energy's stock price is heading higher now, but the ceiling is in sight, and another selling opportunity is developing. The short interest is a likely culprit for the post-release sell-off. The short interest was over 22% at the last report and sufficient fuel for a short-covering rally, if not a squeeze, so it looks like we have a squeeze in play. The squeeze could last several days, but it is not a reason to buy into this energy stock now. Get FuelCell Energy alerts: Sign Up FuelCell Has Better-Than-Expected Quarter FuelCell had a better-than-expected quarter, but that is not to say it had a good quarter. Revenue of $22.2 million is nearly 700 basis points above the consensus reported by MarketBeat but still down almost 42% compared to last year. The weakness is due entirely to a near-100% decline in service revenue due to the lapping of last year’s module exchanges with Korea South Power. The generation segment revenue increased by 65% as the generation base grew, and Advanced Technologies nearly doubled on new contracts. The margin news is mixed. The headline is that losses narrowed, but that is not the real story. GAAP per share losses narrowed slightly and outpaced the consensus by a penny, but due to an increased share count, there was no operational excellence. The share count is up 11% on average compared to last year, which is the only reason the GAAP losses narrowed. The company’s gross loss, operating loss, and adjusted operating losses widened compared to last year, resulting in a capital drain on the balance sheet. The balance sheet is still capitalized, but there are some red flags. Lack of profits aside, the company’s cash and equivalents balance is declining, assets are declining, debt is up, and liabilities are growing. The net result is that shareholder equity was reduced by 6% in addition to the 11% dilution, which is a serious headwind for the stock price. The report highlights bolstering the balance sheet with share sales (which investors should expect to continue) and debt financing for newly online projects. Analysts Aren’t Fired Up About FuelCell Energy Analysts are not fired up about this stock; instead they have left it for dead. The most recent update tracked by MarketBeat.com was issued in Q3 2023 and is a Hold with a $2 price target. That target implies more than 100% upside for this Sell-rated stock but does not reflect the recent results. Because the company is slow to gain traction and losses are mounting, analysts will unlikely change their tune soon, which will provide another headwind for the market. Institutional interest is also sketchy. The institutions own about 43% of the stock but have been selling on balance this quarter, and most of the holdings are for exchange-traded funds. The price action in FCEL stock is attractive, but there are risks. The market shows a Head & Shoulders on the brink of confirming reversal, but it shows resistance at the critical level, and the downtrend is still intact. The critical level is near $1.00, consistent with the pattern neckline. Failing to move above this level would confirm the downtrend and keep this name in penny stock territory. A move higher would confirm a reversal, but with the 150-day moving average at $1.15, the reversal may not go far. The 150-day EMA has been strong resistance since 2021 and is unlikely to break now. → Top 5 Tech Stocks to Buy for 2024 (From Daily Market Alerts) (Ad) Before you consider FuelCell Energy, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and FuelCell Energy wasn't on the list. While FuelCell Energy currently has a "Reduce" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here

Can Robinhood Stock Double Again in 2024? Here's Why It Might 2024-06-11 11:30:00+00:00 - Shares of Robinhood Markets Inc. NASDAQ: HOOD have already had a massive run so far into 2024. Still, the new up-and-comer asset manager must look for ways to keep delivering further growth for its investors and customers. Investors should watch out for how this stock creates a brand moat before it becomes too apparent to buy at a low price. Robinhood Markets Today HOOD Robinhood Markets $23.22 -0.20 (-0.85%) 52-Week Range $7.91 ▼ $23.69 P/E Ratio 154.80 Price Target $19.75 Add to Watchlist Most market participants think Robinhood is simply a platform for retail investors who like to take risks and trade options without prior knowledge of financial markets, and they would be suitable for most of Robinhood’s lifespan. However, Robinhood has transformed into a completely different hub of different financial services and solutions, drawing it away from its previously perceived audience and into a higher quality client. Get XLF alerts: Sign Up Ultimately, Robinhood is starting to compete with other retail brokerage and financial services houses like The Charles Schwab Co. NYSE: SCHW. After rallying by as much as 142% in the past 12 months, here is how Robinhood management is looking to deliver another triple-digit rally for the next 12 months. From Losses to Unexpected Profits: Robinhood Stock’s Sudden Turnaround Shareholders had a new reason to celebrate when the latest quarterly earnings results were released. In the first quarter of 2023, Robinhood lost $511 on $441 million of net revenues. Fast-forward to the first quarter of 2024, and the company reports a net income of $157 million on $618 million in revenue. Robinhood Markets, Inc. (HOOD) Price Chart for Tuesday, June, 11, 2024 Each business has its own set of key performance indicators (KPIs), or so-called ‘drivers,’ that make the underlying financials – ideally – expand. In the case of Robinhood, the platform heavily relies on its user count growth to drive further monetization. When it comes to funded customers, Robinhood’s investor presentation shows that funded customers grew to 23.9 million, or an annual jump of over 810,000. Secondarily, just like any other commercial bank within the financial sector, assets under custody are another way for these businesses to monetize every account they open. Robinhood’s assets under custody (AUC) grew by 65% over the past year, reaching $130 billion in the first quarter of 2024. Compared to Schwab’s 32.9 million active accounts, Robinhood is underway to get the scale of quantity. However, quality still has a long way to go. Schwab’s AUC reached roughly $33.7 billion, which excludes the approximate $8.7 trillion in assets under management (a completely different metric). So, Robinhood’s non-discretionary assets are more significant than Schwab’s, but that’s not where the real money is made. Unlocking Value: Robinhood Stock Targets the Financial Services Goldmine Schwab’s secret, which is the same in most banks within the Financial Select Sector SPDR Fund NYSEARCA: XLF, is the discretionary assets under management number. Schwab’s $8.7 trillion in this category allows it to generate billions in income; how? These assets are centered around clients, giving the platform total control of their assets, including retirement accounts. Robinhood’s retirement accounts reached 650,000 in the past quarter, up from only 220,000 a year prior. Actual AUC in retirement jumped from $300 million in the first quarter of 2023 to $4.2 billion in 2024. While Robinhood still has a long way to go to break into Schwab territory, this growth rate is nothing to scoff at. Now that the platform allows customers in the United Kingdom to access Robinhood’s services, investors have a new reason to expect the stock to deliver double-digit rallies on international expansion and rising discretionary (retirement) assets. Wall Street's Predictions for Robinhood Stock in 2024 After these recent developments enabled Robinhood to push out a 40% increase in revenue, driven in part by a record high of 1.7 million gold subscribers, Wall Street analysts couldn’t help but send out their opinions on Robinhood stock’s outlook in 2024. Robinhood Markets MarketRank™ Stock Analysis Overall MarketRank™ 2.63 out of 5 Analyst Rating Hold Upside/Downside 13.8% Downside Short Interest Healthy Dividend Strength N/A Sustainability N/A News Sentiment 0.52 Insider Trading Selling Shares Projected Earnings Growth 16.98% See Full Details Those at JMP Securities saw it fit to slap a $30 a share price target on Robinhood stock, daring it to rally by as much as 30.4% from where it sits today. More than that, these same analysts expect to see 17% earnings per share (EPS) growth in the next 12 months. However, both outlooks seem to be on the highly conservative end of the spectrum, considering that Robinhood delivered double-digit growth across every KPI it carries. The Vanguard Group, Robinhood stock’s largest shareholder, boosted its position by 1.8% as of May 2024 to bring its net investment to $1.15 billion. This asset manager wouldn’t look to risk its client’s capital on a stock if it didn’t expect to see at least a market-beating return. And after Robinhood saw a record deposit rate of $11.2 billion this quarter, Vanguard and other Robinhood shareholders may be exposed to the market-beating performance they are looking for. Before you consider Financial Select Sector SPDR Fund, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Financial Select Sector SPDR Fund wasn't on the list. While Financial Select Sector SPDR Fund currently has a "hold" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here

Marvell Technology Data Center Revenues Surge, But the Rest Fall 2024-06-11 11:20:00+00:00 - Marvell Technology Inc. NASDAQ: MRVL is a leading semiconductor company in the computer and technology sector that designs and manufactures high-performance chips. They are a powerhouse when it comes to their largest market addressing data infrastructure solutions and data centers. While the company is a benefactor of the artificial intelligence (AI) boom and explosive growth in data centers, it may be perceived as one-dimensional, as evidenced by the 10% drop in shares in reaction to its fiscal Q1 2025 earnings report. Marvell has heavy competition from peers, including Broadcom Inc. NASDAQ: AVGO, Synaptics Inc. NASDAQ: SYNA and STMicroelectronics N.V. NYSE: STM. Get Marvell Technology alerts: Sign Up The Good: Explosive Data Center TAM Growth of Over 300% by 2028. Marvell generates 70% of its revenues from the data center segment. The boom in AI infrastructure demand and scorching growth in data centers led to an 87% YoY and 7% sequential spike in its data center revenues to $816.4 million in its fiscal Q1 2025 earnings report. Robust growth was driven by cloud AI and cloud infrastructure electro-optic products as well as initial shipments of its custom AI compute programs. Marvell Expects to Double its 10% Market Share in Coming Years. Data Center revenue is expected to grow in the mid-single digits sequentially as they ramp up custom AI silicon production. The data center's total addressable market (TAM) is expected to more than triple, growing from $21 billion last year to $75 billion in 2028. With the numerous opportunities in interconnect, switching, storage, and computing, Marvell expects to double its 10% market share over the next several years. Marvell is believed to be working on application-specific integrated circuit (ASIC) chips with hyperscaler giants Amazon.com Inc. NASDAQ: AMZN on its 5nm Tranium chip, Alphabet Inc. NASDAQ: GOOGL on its 5nm Axion ARM CPU and Microsoft Co. NASDAQ: MSFT on its Maia chip. The Bad: Carrier and Enterprise Revenues Sink 58% YoY Inventory glut and normalization are expected to continue driving softer industry demand. Enterprise networking revenue sank 58% YoY and 42% sequentially to $153.1 million. Carrier revenues fell 75% YoY and 58% sequentially to $71.8 million, well below Marvell's forecast for declines of 40% and 50%, respectively. However, the company expects a recovery to start in the second half of fiscal 2025 as customers work through the inventory correction. The Ugly: Consumer Segment Revenues Fall 70% YoY The consumer segment revenue fell 70% YoY to $42 million, in line with prior guidance. However, the company expects the consumer segment revenues to double on a sequential basis. The automotive and industrial segment saw a 13% YoY decline to $77.6 million due to broad inventory correction in the automotive end market. Growth is expected to resume after a flat fiscal Q2 2025. MRVL Sinks on a Descending Triangle Breakdown Pattern The daily candlestick chart on MRVL illustrates a descending triangle breakdown pattern. The descending trendline formed at the $85.76 swing high on March 7, 2024, and the ascending lower trendline formed at the $61.72 swing low on April 22, 2024. MRVL rejected off the upper trendline at $78.44 and collapsed through the lower trendline on its earnings release as shares spilled to $66.10. The daily relative strength index (RSI) fell to the 45-band and is coiled to either bounce and retest the lower trendline or proceed on its next leg down. Pullback support levels are at $66.10, $61.72, $55.63 and $50.35. Robust Growth Hampered by a Ball and Chain. Marvel reported fiscal Q1 2025 EPS of 24 cents, matching consensus estimates. Revenues fell 12.2% YoY to $1.16 billion, beating $1.15 billion consensus estimates. Marvel Provides Conservative In-Line Fiscal Q2 2025 Guidance. Marvell took a conservative approach due to its sinking segments and provided in-line guidance for fiscal Q2 2022 EPS of 24 cents to 34 cents versus 28 cents consensus estimates. Revenues are expected to be between $1.1875 billion and $1.3125 billion versus the consensus estimates of $1.22 billion. Non-GAAP gross margins are expected to be around 62%. Non-GAAP operating expenses are expected to be around $455 million. Marvell Technology CEO Matt Murphy commented, "For the second quarter of fiscal 2025, we are guiding an 8% sequential increase in revenue at the mid-point, fueled by ramping custom AI silicon. We see a favorable setup for the second half of this fiscal year, driven by continued growth in data center and the beginning of a recovery in enterprise networking and carrier infrastructure." Marvell Technology analyst ratings and price targets are at MarketBeat. → Top 5 Tech Stocks to Buy for 2024 (From Daily Market Alerts) (Ad) Before you consider Marvell Technology, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Marvell Technology wasn't on the list. While Marvell Technology currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here

Stock market today: S&P 500, Nasdaq notch fresh records as huge week on Wall Street kicks off 2024-06-11 05:38:00+00:00 - Apple’s (AAPL) Worldwide Developers Conference event kicked off Monday in Cupertino, Calif. as the tech giant announced its long-awaited generative AI initiative: Apple Intelligence. Yahoo Finance's Dan Howley has the details: The technology, Apple's first step into generative AI, will be deeply integrated across the company's hardware and software products ranging from the iPhone and Mac to Mail, Messages, and Photos. Apple is positioning Apple Intelligence as a unique offering that can understand you and your data, rather than a broad-based AI system like ChatGPT or Google's AI Overview. Apple Intelligence will be available for the iPhone 15 Pro and iPads and Macs running Apple's M1 series chips and newer later this fall. The biggest changes are coming to Apple's Siri. The original smartphone voice assistant, Siri has been in desperate need of a fresh coat of paint for years, and Apple Intelligence will offer just that. The company says the assistant will feature a new look, feel more natural, and be more responsive. Like other generative AI-powered assistants, you'll be able to ask follow-up questions and interrupt yourself while making requests. You'll also now be able to speak to Siri via typed text if you don't feel like making requests out loud and ask Siri to use ChatGPT instead of Apple's own models to make requests. Apple says its updated version of Siri is more context-aware of Apple products, allowing you to ask questions about how different features and settings work and get accurate responses. Onscreen awareness will let Siri understand and take action about things on your screen. So, if a friend sends an address in Messages, you can have Siri save it for you. Apple CEO Tim Cook speaks during an announcement of new products on the Apple campus in Cupertino, Calif., Monday, June 10, 2024. (AP Photo/Jeff Chiu) (ASSOCIATED PRESS) Beyond Siri, your devices can now prioritize your notifications to bring up the most important notes and minimize less relevant ones. Writing tools can rewrite, write, or summarize information for you, automatically available across Notes, Mail, and a host of third-party apps. You'll be able to create generative AI images of people, places, and animals across your apps in three different styles. Apple says many of its generative AI models will run on-device, though some will need to access the cloud. But because Apple has traditionally eschewed forcing people to use cloud-based services when it comes to their private data, the company says it has developed a new cloud service called Private Cloud Compute. Read more about the new announcements here.

Nvidia stock rises after 10-for-1 stock split 2024-06-11 04:46:00+00:00 - Nvidia stock (NVDA) began trading Monday on a new 10-for-1 split basis, revising the shares' Friday closing price of $1,208.88 to $120.88. The stock closed up nearly 1% in its first day following the split. The split means that owners of Nvidia common stock held as of the close of market on Thursday received 10 shares for each one share they held. For example, if a shareholder owned four shares of Nvidia as of Thursday, they now own 40 shares post-split. Stock splits make owning shares of a stock more affordable by lowering the price of individual shares without diluting the value of existing shareholders' total holdings. CEO Jensen Huang walks onstage before the keynote address of Nvidia GTC in San Jose, Calif., Monday, March 18, 2024. (AP Photo/Eric Risberg) (ASSOCIATED PRESS) "The stock split is going to make Nvidia a lot more reachable for a lot of these retail traders," Option Research & Technology Services' Matt Amberson told Yahoo Finance last Thursday. "Now, you rarely see a stock over $1,000 with a 50% implied volatility, so the prices of the options are extraordinarily high, so options traders are really looking forward to the split." Nvidia's split comes after the company's total market valuation briefly eclipsed $3 trillion on Wednesday, pushing the chip firm past Apple to become the second-most-valuable publicly traded US company. Shares of Nvidia have skyrocketed thanks to the explosion in interest in generative AI that kicked off when OpenAI debuted its ChatGPT software in late 2022. Since then, hyperscalers like Amazon (AMZN), Google (GOOG, GOOGL), and Microsoft (MSFT) have been battling to get their hands on Nvidia's hardware to power their own generative AI platforms. That sent Nvidia's revenue through the roof. In the first quarter, Nvidia reported adjusted earnings per share of $6.12 on revenue of $26 billion, jumps of 461% and 262%, respectively, from the same period a year ago. Nvidia's Data Center revenue in the most recent quarter increased 427% year over year to $22.6 billion, accounting for 86% of the company's total revenue for the quarter. Nvidia's gaming segment, which was previously its most important business, saw revenue of $2.6 billion. And Nvidia continues to develop new hardware to keep customers coming back for more. On June 3, CEO Jensen Huang announced an upgraded version of its Blackwell AI platform, called Blackwell Ultra, is coming in 2025 as well as an entirely new platform called Rubin set for 2026. And in 2027, the company will release an Ultra version of the Rubin hardware. Stock splits are viewed by investors as a sign of strength, and consequently, companies that split their stock typically outperform the S&P 500 in the year following their announcement. Story continues On average, stocks rise 25% in the 12 months following the announcement of their split compared to an average return of 12% from the S&P 500 in the same time frame, per analysis from Bank of America. This has been true "across market regimes," BofA investment and ETF strategist Jared Woodard wrote in a note to clients. Notably, the trend includes the time period from 2000 to 2009, amid the unwinding of the tech bubble. Nvidia shares are up about 27% since the company announced its split on May 22. Nvidia's stock split comes as AMD (AMD) and Intel (INTC) are giving chase, announcing their own AI hardware and laying out their future product roadmaps as alternatives to Nvidia's. Nvidia's customers are also developing their own AI chips to train and run AI models to help mitigate the cost of purchasing new Nvidia products. It's not just hyperscalers, though. Meta (META), Tesla (TSLA), and a slew of other major tech and automotive companies are angling to grab Nvidia's chips to train and deploy AI models for everything from recommendation engines to autonomous driving software. What's more, Nvidia says it has a growing total addressable market beyond tech companies, including government organizations, research institutions, and more, meaning it might have a lot more runway to go. Email Daniel Howley at dhowley@yahoofinance.com. Follow him on Twitter at @DanielHowley. Josh Schafer is a reporter for Yahoo Finance. Follow him on X @_joshschafer. Subscribe to the Yahoo Finance Tech newsletter. (Yahoo Finance) Click here for in-depth analysis of the latest stock market news and events moving stock prices. Read the latest financial and business news from Yahoo Finance

Here's How Much $50 Of Bitcoin Could Be Worth If Michael Saylor's Prediction Is Correct 2024-06-11 04:00:00+00:00 - Here's How Much $50 Of Bitcoin Could Be Worth If Michael Saylor's Prediction Is Correct Michael Saylor is the co-founder and chairman of MicroStrategy, a software development company that has strongly emphasized Bitcoin in recent years. The company began investing in Bitcoin in August 2020 and has consistently bought tokens since then. MicroStrategy has acquired more than 1% of the entire Bitcoin supply, with holdings worth more than $15 billion at current prices. Don't Miss: 1 in 4 Americans own a share of Bitcoin according to NASDAQ, how many people got started through this free crypto faucet? If you invested $1000 in DOGE when Elon Musk first tweeted about it in 2019, here’s how much you’d have today. MicroStrategy acquired the tokens for a cost basis of under $35,000, meaning that the position is up more than 100% in total. Additionally, the company has used convertible notes to fund Bitcoin purchases, a somewhat risky move that has played out in MicroStrategy's favor. Saylor has become a hugely outspoken proponent of Bitcoin, constantly posting on social media and appearing on different podcasts to discuss his bullish views on Bitcoin and crypto. "I think it keeps going up forever. I mean, there's no reason we can't go to $10 million a coin," Saylor said on the Lex Fridman podcast. This is just one of the several times that Saylor has mentioned $10 million as a price target for Bitcoin. Each time he applies a similar logic to explain his reasoning. Saylor points out that much of the world's wealth is in value-storing assets, such as gold, art, and real estate. He believes that Bitcoin will soon overtake these other assets as a better store of value, as the code determining Bitcoin's supply is entirely available and predictable. He argues this is the most reasonable way to invest in a store-of-value asset. He believes that as more people learn about Bitcoin, more people will continue to invest in the asset, increasing the price. If you bought $50 worth of Bitcoin today, you could own approximately 0.0007 BTC. If the price of Bitcoin goes to $10 million, which would increase nearly 14,000%, your 0.0007 BTC would be worth $7,000. It is also important to note that Saylor has a vested interest in making Bitcoin attractive to prospective investors, as he and his company would benefit from price increases. He has rebranded MicroStrategy into "the world's first Bitcoin development company," meaning that the company would further benefit from increased Bitcoin adoption. Taking Saylor's predictions with a grain of salt is important, as bringing in more Bitcoin investors is in his best interest. Story continues Saylor's logic is sound. With Bitcoin's known supply, the price could theoretically continue to rise in perpetuity if more people invest. Getting more people to invest is the only hang-up to reaching the $10 million mark. Read Next: crypto digital assets "ACTIVE INVESTORS' SECRET WEAPON" Supercharge Your Stock Market Game with the #1 "news & everything else" trading tool: Benzinga Pro - Click here to start Your 14-Day Trial Now! Get the latest stock analysis from Benzinga? This article Here's How Much $50 Of Bitcoin Could Be Worth If Michael Saylor's Prediction Is Correct originally appeared on Benzinga.com © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Zynga opens preregistration for new Game of Thrones mobile game 2024-06-10 22:47:00+00:00 - Preregistration has opened for Zynga's new "Game of Thrones"-themed mobile game, the company announced Monday. Zynga, a wholly owned publishing label of Take-Two Interactive , released a trailer and opened preregistration on the App Store and Google Play for their new mobile puzzle role-playing game "Game of Thrones: Legends." The game is expected to launch July 25. The game was licensed by Warner Bros. Interactive Entertainment on behalf of HBO to incorporate content and characters from "Game of Thrones" and its prequel series "House of Dragons." Zynga Executive Vice President Yaron Leyvand said the game "combines skill-based play with the unrivaled depth and lore of the 'Game of Thrones' universe." Players can build teams, go on missions and face off with "Game of Thrones" enemies. Players who complete the game's first chapter within the first week of launch will receive special in-game rewards, the company said.

UAW president under investigation by federal monitor 2024-06-10 22:06:00+00:00 - United Auto Workers President Shawn Fain testifies about the toll of working hours on laborers before the Senate Health, Education, Labor and Pensions Committee in the Dirksen Senate Office Building on Capitol Hill in Washington, D.C., on March 14, 2024. DETROIT – United Auto Workers President Shawn Fain is under investigation by a federal court-appointed watchdog who's tasked with monitoring the union and eliminating corruption, according to a Monday court filing. The monitor, Neil Barofsky, is investigating whether Fain abused his power as union president. He also accuses union leaders, including Fain, of obstructing the investigation and interfering with his access to information. Such actions could potentially violate a 2020 consent decree between the UAW and Justice Department that avoided a federal takeover of the union. "The Monitor has attempted for months to garner the Union's cooperation in gathering the information needed to conduct a full investigation, but the Union has effectively slow-rolled the Monitor's access to requested documents," the court filing reads. More recently, the filing says the monitor expanded the investigation to include additional allegations of retaliation by Fain against one of the union's vice presidents. The monitor also opened an unrelated investigation into another unnamed UAW International Executive Board, or IEB, member, a regional director, after receiving allegations of potential embezzlement, according to the filing. The UAW did not immediately respond for comment.

What a Surge in Far-Right Politics Could Mean for Europe 2024-06-10 21:54:57+00:00 - This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.

Apple is making email more bearable 2024-06-10 21:34:33+00:00 - Apple unveiled some snazzy new features for its Mail app at WWDC 2024. Updates include advanced categorization, a digest view for emails, and AI-powered writing tools. The new Siri integration now helps locate emails and provides real-time information from messages. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Advertisement Managing your email app — and even just searching for an email you know is in there somewhere — can be unbearable. But Apple is trying to change that. At Apple's WWDC event on Monday, company executives announced a number of new features that will likely make the Mail app much easier to use across Apple devices, and even make it function more like an executive assistant. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .

Jay-Z gets dragged online for pushing Jeff Yass-backed private school plan 2024-06-10 21:28:49+00:00 - Rapper Jay-Z is being dragged online after it was reported his Roc Nation media company will throw its weight behind a conservative effort to promote attendance at Philadelphia private schools rather than public ones. Late last week, the mogul (aka Shawn Carter) received a lot of favorable press that portrayed Roc Nation’s support as a boon for underprivileged kids. As NBC News 10 in Philly reported: On Friday, the organization announced plans for an educational campaign for Philadelphia that will secure about $300 million in scholarships for kids in grades K-12 from low-income households so they can attend one of the city’s array of private schools. The organization will host a series of events across the region from June 10 through June 21 aiming to educate the public and share information about the Pennsylvania Award for Student Success (PASS) — also known as Senate Bill 757. The legislation aims to increase education opportunities for underprivileged youth attending the state’s lowest-performing public schools. A spokesperson from Roc Nation said in a news release that its goal is "to empower the youth and families with the knowledge to pursue their scholastic dreams, make their voices heard and become the leaders of tomorrow.” But a closer look at the details paints a more complicated — and controversial — picture. As some on social media have noted, the program supported by Roc Nation is not so much “securing scholarships” as funneling public funds to Pennsylvania’s private and charter schools. This effort is being led by conservative lawmakers and activists in the state, including billionaire businessman and Trump-backer Jeff Yass. Yass, who’s from Pennsylvania, has made the anti–public school agenda (sometimes referred to as “school choice”) his No. 1 issue, according to CNBC. The billionaire TikTok investor is a major funder of groups like the conservative Commonwealth Foundation, that have advocated for the PASS program, which would fund vouchers to allow students from underprivileged communities to attend charter and private schools. Similar voucher plans, like Arizona’s voucher program, have faced backlash for failing in their promises to cut costs and to benefit underprivileged students. Longtime education reporter Nikole Hannah-Jones helped to explain on X why favorable reports about Jay-Z’s involvement were misguided. “It is a lie that these programs do not take from public-school funding. Fewer kids in the classroom means fewer dollars to the school,” she posted. “This is a windfall to the city’s private schools at the expense of the public ones that most kids attend.” “This ain’t it,” said the account for the Pennsylvania chapter of the American Federation of Teachers in reaction to the Roc Nation news. Its post included a picture of Carter and Yass together at a black tie event. Voucher programs like the one Carter and Yass are backing align with key education priorities outlined in Project 2025, the conservative plan to transfigure the U.S. government if Donald Trump is elected in November. That Jay-Z is trying to give this school voucher initiative a veneer of activism should come as no surprise. This is the same man who discouraged players from kneeling during the national anthem in protest of racial inequality after the NFL entered a business deal with Roc Nation. The same person who none other than activist Harry Belafonte took to task for having “turned their back on social responsibility.” As I wrote last week, Republicans these days are eager to use rappers to promote their right-wing agenda. And in this case, they seem to have found willing participants in Jay-Z and Roc Nation.

Nuclear power is 'overblown' as an energy source for data centers, power company CEO says 2024-06-10 21:26:00+00:00 - President and Chief Executive Officer (CEO) of the AES Corporation Andres Gluski speaks during an interview with Reuters in Santiago, Chile June 4, 2019. Picture taken June 4, 2019. Rodrigo Garrido | Reuters The euphoria over nuclear energy as a power source for data centers is "overblown," the CEO of a major power provider for large tech companies told CNBC in an interview Monday. AES Corporation CEO Andrés Gluski said renewable energy is the future, though natural gas will also play a role as a transition fuel. Nuclear power, on the other hand, faces challenges in meeting the growing power demand from data centers, Gluski said. AES is a major power provider for large tech companies building out data centers, with more than 40% of its 12.7 gigawatt backlog coming from customers including Amazon, Microsoft and Google, according to its most recent earnings presentation to investors. Some Wall Street analysts have predicted a nuclear renaissance as power demand increases thanks to artificial intelligence, data centers, re-industrialization and the electrification of the vehicle fleet. Nuclear provides reliable, carbon-free energy, though new projects have long lead times and are expensive. Gluski said the "euphoria" over nuclear power is a "little overblown." There is only so much existing nuclear energy that merchant power providers can re-contract to sites such as data centers, the CEO said. "The question is, going forward, what's the price of new nuclear," Gluski said, adding that only one new nuclear plant has been built in the U.S. in decades and it came in far above budget. 'The future is going to be renewable' The second of two new nuclear reactors at Vogtle Plant in Georgia came online in April, but the project was seven years behind schedule and cost double the original projections, according to the Energy Information Administration. The reactors, operated by Georgia Power, are the first newly-constructed nuclear units built in the U.S. in more than 30 years, according to the Department of Energy. "The Street got ahead of it saying you're not going to build renewables, it's all going be nuclear," Gluski said. "It's going to be natural gas and renewables, but the bulk of it's going to be renewables," the CEO said. AES current gross power generation is 54% renewables, 27% natural gas, and 17% coal. Renewables represent 89% of the company's gross power generation under construction while gas makes up the remaining 11%. Gluski pointed to the recent agreement between Microsoft and Brookfield Asset Management for 10.5 gigawatts of renewable energy between 2026 and 2030 as a sign of the future. Microsoft and Brookfield described the agreement as the largest renewable purchase ever between two corporate partners. "It tells you that's where most of the energy is going to be coming from," Gluski said. "They are cheaper, they are clean and quite frankly easier to site, so the future is going to be renewable energy." Natural gas vs. renewables

Beyond Europe And North America: Curaleaf's Strategist On Cannabis Markets In Australia, New Zealand, And Israel - Curaleaf Holdings (OTC:CURLF) 2024-06-10 21:23:00+00:00 - Loading... Loading... While much is known about the cannabis markets in Europe, the USA, and Canada, the real cash cows might lie in emerging regions. In an exclusive discussion with Benzinga Cannabis. Juan Martinez, head of Curaleaf International Holdings CURLF, explored the strategic expansion into Australia, New Zealand and Israel and the potential these markets hold. The Australian Market The Australian market is a key focus for Curaleaf. Martinez highlights that the Australian cannabis market is twice the size of Germany's, already boasting over half a million patients. "Australia is a very attractive market. Not a lot of people realize that the Australian market is two times the size of the German market today," Martinez said. "We believe there are over 500,000 patients in Australia, which is a significant number compared to Germany's 200,000 patients." Curaleaf's acquisition of Northern Green Canada (NGC) has been instrumental in facilitating its business operations in Australia. "Curaleaf, through the acquisition of NGC, is already doing considerable business in Australia," Martinez explained. This acquisition enables leveraging NGC's established infrastructure and expertise to penetrate the Australian market effectively. One of the significant advantages of the Australian market is the regulatory environment, which is more permissive compared to Europe. "The benefit with Australia is that they opened up the ecosystem for clinics and telemedicine companies, making it easier for doctors to get educated and onboard to prescribe cannabis. This allows for rapid expansion and lower costs for patients." The regulatory framework in Australia permits a broader range of cannabis products, including edibles and vape products, which are often restricted in European markets. "In Australia, you can get very creative in terms of new product development because the regulations allow for different form factors," Martinez told Benzinga. "We're starting to see operators enter the market with edible products and vape products, which is something we're closely monitoring." New Zealand And Israel In addition to Australia, Curaleaf is also expanding its presence in New Zealand and Israel. "Curaleaf International is not just a European business. We are now in Australia, New Zealand, and Israel," Martinez said. These markets, although smaller than Australia, still offer substantial opportunities for growth. In New Zealand, the regulatory environment is also favorable, allowing Curaleaf to explore various product offerings. "New Zealand has specific monographs and requirements, such as allowing only a limited number of approved pesticides, but we already comply with these standards," Martinez explained. This compliance ensures that Curaleaf can effectively navigate the regulatory landscape and meet market demands. Israel, despite the ongoing conflict, remains a significant market with 130,000 patients. "Israel has changed its regulations to allow for cannabis no longer being a last resort, leading to tremendous increases in patient numbers," Martinez said. "We see Israel as a market with a lot of potential, and some companies are already doing over $100 million in revenue just from this market." Strategic Supply Chain Management Curaleaf's strategy for these international markets involves a robust and flexible supply chain. The company leverages its cultivation facilities in Portugal and Canada to supply these regions. "Australia and New Zealand require GMP (Good Manufacturing Practice) standards, which we already meet with our facilities in Portugal and Canada," Martinez explained. This ensures that Curaleaf can maintain high-quality standards and meet regulatory requirements across different markets. Martinez also touches on the possibility of further expanding their cultivation capacity. "Our Portuguese facility can more than triple its cultivation space with very low investment," he noted. "Similarly, our facility in Canada has significant space for expansion. This allows us to press a switch and triple our supply, depending on how demand evolves and regulations change." Market Challenges And Opportunities While the opportunities are vast, there are also challenges, particularly around patient awareness and regulatory navigation, Martinez pointed out. “Marketing restrictions in countries like Australia are very strict, making patient education and word-of-mouth crucial." However, he remains optimistic about Curaleaf's ability to overcome these challenges and capitalize on the growth potential in these markets. "Our focus is on patient needs and regulatory compliance. By leveraging our data-driven approach and existing infrastructure, we are well-positioned to expand and succeed in these international markets," he concluded. Learn more about leading cannabis companies and stocks, at the Benzinga Cannabis Market Spotlight in New Jersey on June 17th! Grow your business, raise money, and capitalize on the booming NJ recreational market. Don’t miss this must-attend event in New Brunswick. Secure your tickets now. Very few spots are left. Use the code "JAVIER20" for 20% off! Photo: AI-Generated Image.

Tiana's Bayou Adventure is the next step in Disney's $60 billion theme park investment 2024-06-10 21:23:00+00:00 - In this article DIS Follow your favorite stocks CREATE FREE ACCOUNT Tiana's Bayou Adventure opens June 28 at Walt Disney World Resort in Florida! The ride will take guests on a musical adventure picking up after the events of the Walt Disney Animation Studios film, "The Princess and the Frog." Guests will encounter fan-favorite characters including Prince Naveen, Mama Odie and more, plus all-new music. Disney | Olga Thompson We're almost there. Tiana's Bayou Adventure, the rethemed Splash Mountain, is set to reopen June 28 at Walt Disney World Resort in Orlando, Florida. The refurbishment of the iconic water ride was first announced four years ago. Similar alterations at Disneyland in California are expected to be complete before the end of the year. Featuring characters from Disney Animation's "Princess and the Frog," Tiana's Bayou Adventure takes guests through the swamps of New Orleans as Tiana preps a massive Mardi Gras celebration. And don't worry, the more than 50-foot drop remains. Riders will be immersed in a musical experience as they jettison along the log ride with new, original music alongside favorite songs from the 2009 animated film. Along the way, riders will spot familiar faces like Tiana, Louis and Mama Odie as well as a number of instrument playing critters from the bayou. The revamp of Splash Mountain into Tiana's Bayou Adventure is part of a bigger strategy for Disney to infuse relevant, fan-favorite intellectual properties into its existing rides and theme parks. It's all part of Disney's wider effort to invest $60 billion in its parks business over the next decade. Already the company has rethemed the iconic Tower of Terror at California Adventure to feature characters from Marvel's "Guardians of the Galaxy," converted the California Screamin' roller coaster into an "Incredibles" coaster (also at California Adventure) and replaced Maelstrom in the Norway Pavilion at Epcot with a "Frozen" ride. Disney often refers to these updates as "plussing," which is done in order to make attractions more relevant and to elevate the guest experience. Tiana's transformation Splash Mountain has been a staple at Disneyland since 1989 and at Disney World since 1992. There is a third Splash Mountain in Tokyo, which also opened in 1992. In recent years, there were calls from some parkgoers to strip away the "Sound of the South" theme from the ride. The source material, a film released in 1946, has been deemed racist by many even though the ride itself hasn't been criticized as racist. For Disney, retheming Splash Mountain allows it to upgrade ride elements, like its animatronics, tie the ride to a popular studio film and develop a slew of new merchandise, food items and drinks for guests to enjoy. Imagineers have developed all-electronic audio-animatronics for the ride, including for characters such as Louis, the trumpet-playing alligator from the film. Disney revolutionized animatronics decades ago with its hydraulic, or liquid-fueled, and pneumatic, or air-fueled, systems, but the electronic animatronics for Tiana's Bayou allow for more refined and precise movement, making them appear more realistic. Similar animatronics can be seen in the rides Smuggler's Run and Rise of the Resistance, in Galaxy's Edge. A preview of Walt Disney Imagineering's audio-animatronics for the upcoming refresh of Splash Mountain, Tiana's Bayou Adventure. Disney