Latest News

See the latest news and get GPT analysis of articles

3 Mining Stocks to Watch as Silver Prices Reach 12-Year High 2024-07-02 14:17:00+00:00 - The new commodity cycle is underway, and typically, two items take the lead wherever the cycle is headed. Of course, these two widely watched leaders are oil and gold prices, as both are reliable fundamental and psychological indicators to show investors where the economy could be headed tomorrow. Here’s what’s making them move. Oil prices struggled to break above $80 a barrel for some weeks, but now the commodity is moving upward. Why? Expectations of a new manufacturing sector uproar are making the energy companies ramp up production to sponsor this breakout, not to mention plenty of geopolitical conflicts that could disrupt the oil supply chain. More than that, gold prices are now at an all-time high. These two commodities usually carry close companions, with natural gas prices typically following oil and silver going right behind gold. This is why silver prices have broken out to levels not seen since 2012 and why stocks like First Majestic Silver Corp. NYSE: AG, Coeur Mining Inc. NYSE: CDE, and even Pan American Silver Corp. NYSE: PAAS could be worthy watchlist additions soon. Get First Majestic Silver alerts: Sign Up Markets Recognize First Majestic Silver's Role in the Energy Transition First Majestic Silver Today AG First Majestic Silver $5.85 +0.09 (+1.56%) 52-Week Range $4.17 ▼ $8.44 Dividend Yield 0.17% Price Target $12.67 Add to Watchlist According to the company’s latest investor presentation, released in June 2024, silver is the best conductor of electricity, making it essential for fulfilling the hopes of an energy transition involving solar energy and electric vehicles. While some focus on uranium stocks, copper, and lithium, silver may be the best-underrated agent here. First Majestic Silver MarketRank™ Stock Analysis Overall MarketRank™ 1.82 out of 5 Analyst Rating Hold Upside/Downside 119.1% Upside Short Interest Healthy Dividend Strength Weak Sustainability N/A News Sentiment 0.63 Insider Trading N/A Projected Earnings Growth Growing See Full Details This could be why Wall Street analysts feel comfortable forecasting up to 170% growth in First Majestic Silver’s earnings per share (EPS) for this year, standing head and shoulders above the rest of its peers in the sector. Since the stock now trades at only 68% of its 52-week high, investors have much more upside to face with this stock than meets the eye. Consensus price targets stand at an average level of $7.5 a share for First Majestic Silver stock, which dares the company to rally 30.2% from where it trades today. Considering how bullish the price of silver is becoming, these projections seem very conservative compared to the company's EPS projections analysts have set. But these analysts aren’t the only ones watching the stock; Van ECK Associates Corp (First Majestic Silver’s largest shareholder) just boosted its stake in the stock by 5.1% in the past quarter. This brings the asset manager’s net investment to $187.4 million today. Coeur Mining's Premium Valuation: A Look at Investor Sentiment Coeur Mining Today CDE Coeur Mining $5.63 +0.23 (+4.26%) 52-Week Range $2.00 ▼ $6.05 Price Target $4.40 Add to Watchlist There’s a reason investors are willing to pay a price-to-book (P/B) ratio of 2.2x for Coeur Mining stock today, which, compared to the rest of its peers, the company commands a premium of roughly 50%. Considering what’s happening in silver prices, momentum could be the reason. Coeur Mining MarketRank™ Stock Analysis Overall MarketRank™ 3.12 out of 5 Analyst Rating Moderate Buy Upside/Downside 21.0% Downside Short Interest Bearish Dividend Strength N/A Sustainability -5.73 News Sentiment 0.66 Insider Trading Selling Shares Projected Earnings Growth 287.50% See Full Details Speaking of momentum, the stock trades at 89% of its 52-week high levels, showing investors the sentiment behind the company today. More than that, Wall Street analysts now forecast up to 287.5% EPS growth this year for the stock, leading the pack in that regard as well. The Van ECK Associates guys couldn’t leave this one behind either in their hunt for higher silver prices; the asset manager boosted its Coeur stock by 6.5% in the past quarter, making its position as big as $145.6 million today. According to the latest quarterly earnings report, the company reported a 14% increase in revenue for the year, helping them make these decisions. That press release also includes information on new breakthroughs made in new mines, which can help achieve the EPS projections set by analysts. Analysts Take Note of Pan American Silver's Financial Momentum Pan American Silver Today PAAS Pan American Silver $19.90 +0.29 (+1.48%) 52-Week Range $12.16 ▼ $22.75 Dividend Yield 2.01% Price Target $22.25 Add to Watchlist Over the past year, Pan American Silver nearly doubled its revenues, going from $390.3 million in 2023 to $601.4 million in the first quarter of 2024. Riding on this momentum, those at Van ECK held out their most significant cash allocation for this company amongst all three on this list. Pan American Silver MarketRank™ Stock Analysis Overall MarketRank™ 2.68 out of 5 Analyst Rating Moderate Buy Upside/Downside 12.7% Upside Short Interest Healthy Dividend Strength Weak Sustainability N/A News Sentiment 1.00 Insider Trading N/A Projected Earnings Growth 103.85% See Full Details Upping their stake by 11.8% in the past quarter brought Van ECK asset managers to a net investment in Pan American Silver stock of $748.5 million today. Like Coeur Mining stock, Pan American Silver trades at 86% of its 52-week high. This can help drive momentum traders and investors into the stock for another run higher. How much higher? Wall Street forecasts a consensus price target of $22.2 a share, daring Pan American Silver stock to rally 13.1% from today’s price. Even if the stock takes a bit longer to reach these valuations, investors can count on the company’s annual 2% dividend yield to cushion them in the meantime. → Major Pharma Deals Propel This Undervalued AI Stock (From Behind the Markets) (Ad) Before you consider First Majestic Silver, 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 First Majestic Silver wasn't on the list. While First Majestic Silver currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here

Guidewire Software Stock Up 150%: Rally Is Just Starting 2024-07-02 14:04:00+00:00 - Guidewire Software NYSE: GWRE stock price has increased 150% in the last eighteen months because of the utility it provides insurers. The company operates as a B2B cloud-based SaaS that provides a suite of platforms for property and casualty insurers. The suite can be used piecemeal or as an end-to-end solution for group and self-managed plans. Guidewire Software Today GWRE Guidewire Software $138.80 -0.19 (-0.14%) 52-Week Range $74.03 ▼ $139.91 Price Target $133.08 Add to Watchlist The benefits of using Guidewire include improved customer experiences but, more importantly, increased automation, enhanced security, and business planning, all of which aid margins. Because the company uses AI to power its operations and provides an embedded analytical tool directly into core workstreams, its margins and the margins of its clients are expected to widen now and over time. Get Guidewire Software alerts: Sign Up Client Wins Drive Outlook for Guidewire As good as the outlook is, numerous recent client wins suggest the guidance is cautious. Among them is Oregon-based United Heritage Insurance. United Healthcare Insurance has been a long-standing client of Guidewire but recently decided to go all-in and migrate its core business to the cloud. The purpose is to improve operations and grow the business, which Guidewire is well-positioned to do. It makes current operations easier, as well as finding and onboarding new ones. Another new client is New Zealand insurer FMG. FMG insures New Zealand and decided to simplify IT operations and improve flexibility in a rapidly changing environment. Drivers of the decision include numerous one-off events in 2023 and a desire to remain relevant to its clients. The bottom line is that Guidewire is expanding its client base and deepening the penetration of services, which is a dual tailwind for the business. Strong Results Spur Guidewire Analysts to Raise Targets Guidewire had a solid Q3 and provided better-than-expected guidance, which spurred the analyst to raise targets. Highlights from the report include outperformance on the top and bottom lines, sequential acceleration, YoY acceleration, solid profitability, and a forecast for similar results next fiscal year. As it is, the consensus analyst forecast for 2025 is for an acceleration to 12% annual growth, which is a cautious forecast. Guidewire Software MarketRank™ Stock Analysis Overall MarketRank™ 3.60 out of 5 Analyst Rating Moderate Buy Upside/Downside 4.7% Downside Short Interest Healthy Dividend Strength N/A Sustainability -0.40 News Sentiment 0.62 Insider Trading Selling Shares Projected Earnings Growth Growing See Full Details The analysts' data is good. There are thirteen analysts tracked by MarketBeat, sufficient to assume a moderate conviction level from the sell side. Eleven of them issued a revision this year, and nine following the Q3 results, increasing conviction in the price target. The nine updates include nine increased price targets and nine reaffirmed ratings that amount to a Buy/Strong Buy rating. The consensus target implies a 4% downside but is rising and supports the market. The revision trend lifted the consensus by 55% compared to last year and 15% since the Q3 report, leading the market to the range's high end. That ranges between $140 and $170 or 5% to 35% upside. Institutional interest is another tailwind for this market. The institutions own about 99% of the stock and have bought on balance this year. The Q1 activity was vigorous on both sides of the trade but increased total ownership, and the buying continued in Q2, aligning with Q1 market consolidation and the rally in Q2. Guidewire Could Reach $180 or Higher by Next Year The technical action in Guidewire is robust. The chart of monthly action shows a correction met by buyers followed by a sharp 100% rally. The rally is highlighted by a Bullish Flag Pattern and continuation signal that broke critical resistance and resulted in a new all-time high. The technical targets derived from this move include a $60 and 100% increase from the breakout point of a move to the range of $180 to $240. The $180 target is above the analysts' high target, but their range is tracking in the right direction. Assuming the Q4 results and updated outlook for 2025 are as expected, the trend in analysts' sentiment should continue, and a move to $180 or higher will follow. Before you consider Guidewire Software, 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 Guidewire Software wasn't on the list. While Guidewire Software currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here

Steel Dynamics Stock is Up 9.6% While Its Peers Are Rusting 2024-07-02 13:05:00+00:00 - Steel Dynamics Today STLD Steel Dynamics $128.30 -0.85 (-0.66%) 52-Week Range $95.53 ▼ $151.34 Dividend Yield 1.43% P/E Ratio 8.81 Price Target $129.63 Add to Watchlist While most steel producer stocks are trading down in 2024, Steel Dynamics Inc. NASDAQ: STLD is an exception. Its stock is trading up 9.1% year-to-date (YTD). The VanEck Steel ETF (NYSEARCA: SLX) is down 9.67% YTD. Incidentally, a number of steel companies lowered their guidance, which caused their shares to sell off. On June 17, 2024, Steel Dynamics lowered its Q2 2024 EPS guidance, but surprisingly, shares rebounded to close up 3% on the day. The reaction has investors wondering what makes Steel Dynamics' stock bullet-proof while its peers' stocks rust away. Steel Dynamics operates in the basic materials sector and competes with steel producers, including Nucor Co. NYSE: NUE, down 9.1% YTD, United States Steel Co. NYSE: X, down 22.3% YTD, Cleveland Cliffs Inc. NYSE: CLF, down 24.6% YTD, and Olympic Steel Inc. NASDAQ: ZEUS, down 32.7% YTD. Get Steel Dynamics alerts: Sign Up Revisiting Steel Dynamics Inc.'s Q1 2024 Earnings On April 23, 2024, Steel Dynamics reported Q1 2024 EPS of $3.67, beating consensus analyst estimates by 16 cents. Revenues fell 4.1% YoY to $4.69, falling short of the $4.74 billion consensus estimates. The company stated that it remains confident that domestic steel consumption will be strong throughout 2024. Order activity continued to be solid across its businesses, and steel prices remained firm. U.S.-produced steel products coupled with lower imports should support steel pricing. The company expects the automotive, industrial, non-residential construction, and energy sectors to remain bullish. Significant investment is expected to be derived from public funding related to the U.S. Infrastructure spawned by the Inflation Reduction Act (IRA) and Department of Energy programs. Like Dominoes, Steel Companies Lower Their Guidance Steel Dynamics MarketRank™ Stock Analysis Overall MarketRank™ 3.11 out of 5 Analyst Rating Hold Upside/Downside 1.2% Upside Short Interest Bearish Dividend Strength Strong Sustainability -4.06 News Sentiment 1.02 Insider Trading Selling Shares Projected Earnings Growth -8.25% See Full Details On June 14, 2024, Nucor lowered its Q2 2024 EPS guidance to $2.20 to $2.30 versus $3.00 consensus estimates primarily due to lower earnings in the steel mills segment due to lower average selling prices and volumes. On June 17, 2024, U.S. Steel lowered its adjusted EBITDA guidance for Q2 to $425 million from the previous forecast of $425 to $475 million. EPS guidance was flat at 76 to 80 cents versus 77-cent consensus estimates. On June 17, 2024, Steel Dynamics followed suit and lowered its Q2 2024 EPS guidance to $2.64 to $2.68 versus $2.98 consensus estimates. The main driver is lower realized pricing, offsetting steady shipments. Underlying domestic steel demand remains intact, but steel-buying hesitancy has grown due to the weakening of the scrap price environment. Demand continues to be led by the automotive, energy, non-residential, and industrial sectors. Optimistic Forecasts for Steel Dynamics in Q2 2024 Steel Dynamics expects Q2 2024 metal recycling operations earnings to be higher than Q1 results due to more substantial volumes in ferrous and nonferrous materials. Its steel fabrication operations are expected to align with Q1 2024 results based on increasing shipments offset by incrementally lower realized pricing. The non-residential construction sector remains solid, as evidenced by deck orders and steel joist backlog volume extending into the historically strong product pricing in the fourth quarter of 2024. Continued onshoring of manufacturing and robust U.S. infrastructure programs and industrial buildouts support strong demand for the coming years. The company purchased $247 million or 1.1% of its common stock through the second quarter to June 10, 2024. Steel prices have fallen, as evidenced by the 37% plunge in hot-rolled steel prices in 2024. This impacts steel producers dramatically. However, the markets may have priced in the bad news, causing steel stocks to rally. STLD is Attempting to Breakout of a Descending Triangle Pattern The daily candlestick chart for STLD shows a descending triangle pattern. The descending trendline commenced at $151.34, capping tops toward the $118.36 flat-bottom lower trendline support. STLD stock is attempting to break through the descending trend at $126.34. The daily relative strength index (RSI) is coiling up through the 53-band. Pullback support levels are at $122.48, $118.36, $110.00, and $107.38. Steel Dynamics analyst ratings and price targets are at MarketBeat. Before you consider Steel Dynamics, 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 Steel Dynamics wasn't on the list. While Steel Dynamics currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here

The Top 4 Magnificent 7 Stocks to Buy in the Year's Second Half 2024-07-02 13:05:00+00:00 - As investors prepare for the second half of the year, one question is whether they should take NVIDIA Corp. NASDAQ: NVDA or the field. In this case, the field refers to other stocks that make up the group known as the Magnificent 7. These stocks moved (relatively) in tandem for most of 2023. However, in 2024, NVIDIA has dominated the market, surpassing the $3 trillion mark for market capitalization. But what comes up can come down sharply. That's the case with NVDA stock, which dropped 15% from its peak on June 18 to its trough on June 24. The stock has rallied since, and it enjoys favorable analyst sentiment. But before you decide to start or add to a position in NVIDIA, you should take note of something else that happened in the market. Get Wells Fargo & Company alerts: Sign Up As investors rotated out of NVDA, they rotated into other Magnificent 7 stocks. Amazon.com Inc. NASDAQ: AMZN broke out of a four-month consolidation period. In the last three months, Apple Inc. NASDAQ: AAPL has broken out of a consolidation period that lasted nearly a year. Meta Platforms Inc. NASDAQ: META looks like it could be ready to take another leg up, and Alphabet Inc. NASDAQ: GOOGL continues to be a comeback story, up over 30% in 2024. What's the outlook for each of these technology stocks as we head into the second half? Investors May See What a Fully Functioning Amazon Looks Like Many consumers only know Amazon as an e-commerce giant. AMZN investors, however, understand that the company is the world's largest cloud computing provider via its Amazon Web Services (AWS) platform. The growth of AWS has fueled the stock's approximately 130% rise since January 2023, pushing AMZN stock to new all-time highs and a $2 trillion market capitalization. However, investors may start to find out what happens when both business units are firing simultaneously. The company's e-commerce business has been impacted as consumers become more discerning about their discretionary spending. However, if interest rates move lower at some point in 2024 (likely before the holidays), it would be a bullish sign for consumer spending. AMZN stock is within 10% of the consensus target of analysts' forecasts. However, Wells Fargo & Co. NYSE: WFC just reiterated its Overweight rating on the stock with a $239 price target. Amazon.com, Inc. (AMZN) Price Chart for Tuesday, July, 2, 2024 Can Apple Maintain Its Momentum? Key Earnings Insights Ahead Apple Today AAPL Apple $220.27 +3.52 (+1.62%) 52-Week Range $164.07 ▼ $220.38 Dividend Yield 0.45% P/E Ratio 34.26 Price Target $215.71 Add to Watchlist Apple has been one of the best-performing stocks in the last three months. AAPL stock is up over 25%, which has pushed the stock into positive territory for the year. It's also moved above the consensus price target. That's great news for Apple shareholders who have watched the stock tread water for the better part of a year. The reason is that the company's launch of "Apple Intelligence" is convincing investors that the company has a place in the AI conversation. That's causing some analysts to bid the stock higher. However, that halo effect may be tested when Apple reports earnings in August. It may be too early for the company to show a reversal of the trend in which it beats on earnings but comes in light on the top line. But if it guides to higher revenue as the consumer upgrade cycle kicks in, the stock may move much higher. Apple Inc. (AAPL) Price Chart for Tuesday, July, 2, 2024 Does META Need an "And Then What" to Its Upcoming Earnings? Meta Platforms Today META Meta Platforms $509.50 +4.82 (+0.96%) 52-Week Range $274.38 ▼ $531.49 Dividend Yield 0.39% P/E Ratio 29.26 Price Target $511.27 Add to Watchlist Meta Platforms stock is up more than 42% in 2024, and in June, the bulls pushed META stock up 8%. That puts it within striking distance of its record high in April 2024. Shareholders know what came next. META stock plunged approximately 18% after the company announced that it would be increasing spending on AI. However, the bulls gobbled up most of that dip. Meta is scheduled to report earnings later this month, but are investors front-running the company's earnings numbers? The bulls will point out that as recently as July 1, Raymond James upgraded META to a Strong Buy and increased its price target from $550 to $600. On the same day Raymond James issued its upgrade, Needham & Company reiterated its Underperform rating. And the European Union has ruled that Meta's "pay or consent" advertising model doesn't give investors enough power to opt out of its ad service. Meta Platforms, Inc. (META) Price Chart for Tuesday, July, 2, 2024 Alphabet May Have the Most Catalysts Alphabet Today GOOG Alphabet $186.61 +2.12 (+1.15%) 52-Week Range $115.83 ▼ $187.50 Dividend Yield 0.43% P/E Ratio 28.62 Price Target $167.86 Add to Watchlist Alphabet stock is up 30% in 2024 and 52% in the last 12 months. However, despite that market-leading performance, GOOGL stock may still have more catalysts for upside growth. Valuation is always tricky with tech stocks. However, at a forward P/E of 23.9, GOOGL stock has the most attractive price-to-earnings (P/E) ratio among these four Magnificent 7 stocks. But there are more reasons to like Alphabet in the second half of 2024. It's the third largest cloud provider but is growing its cloud business faster than Amazon. That growth is equal to only about 10% of the market. Nevertheless, small advances in market share can make a big difference to the bottom line. Remember that Alphabet is still the leader in online advertising. Generative AI is boosting that sector even after the company relaunched its Gemini platform. Alphabet Inc. (GOOG) Price Chart for Tuesday, July, 2, 2024 Before you consider Wells Fargo & Company, 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 Wells Fargo & Company wasn't on the list. While Wells Fargo & Company currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here

A.I. Begins Ushering In an Age of Killer Robots 2024-07-02 09:00:31+00:00 - In a field on the outskirts of Kyiv, the founders of Vyriy, a Ukrainian drone company, were recently at work on a weapon of the future. To demonstrate it, Oleksii Babenko, 25, Vyriy’s chief executive, hopped on his motorcycle and rode down a dirt path. Behind him, a drone followed, as a colleague tracked the movements from a briefcase-size computer.

Paramount in talks with media companies to merge streaming platform, CNBC reports 2024-07-02 04:36:00+00:00 - (Reuters) -Paramount Global is holding talks with other media companies about merging its streaming platform with another, CNBC reported on Monday, citing people familiar with the matter. Fears of market saturation have forced media companies to bundle their streaming businesses and offer discounted rates to lure customers who are wary of signing up and paying for numerous individual services. Media giant Paramount Global's leadership is in discussions with other media and tech companies to determine a viable structure where Paramount+ can be merged with another streaming entity and potentially co-owned, the report said. Warner Bros Discovery is one of the companies that has expressed an interest in a joint venture, merging its Max and Paramount+, the report added. Paramount and Warner declined to comment on the report. Several media executives said privately they expect Comcast's Peacock, Paramount+, Max and Walt Disney to ultimately team up their programming within one application to alleviate confusion and compete with streaming leader Netflix, the report said. It added that while a structure for a hypothetical joint venture between Paramount and Warner has not been discussed in detail, ownership likely would not be a 50-50 split given the existing nature of the streaming assets and their finances. Paramount's streaming service has more than 71 million subscribers, far less than Netflix's 269.60 million and Warner's 99.6 million. Last month, Reuters reported that Paramount co-CEO said the company will focus on its new plan to transform its streaming business, reduce costs and divest some assets to help pay down debt, a day after controlling shareholder Shari Redstone opted to end deal talks with Skydance Media for Paramount Global. (Reporting by Harshita Mary Varghese; Editing by Shinjini Ganguli)

Gen Z And Millennial Millionaires Couldn't Care Less For Stocks And Bonds — Here's What They're Buying Instead 2024-07-02 03:32:00+00:00 - The younger generations don't have the patience to grow wealth the ordinary way. From alternative music and alternative cinema, millennials and Gen Z have moved on to alternative assets. And they're hoarding their way over the recommended amount. A mind-blowing 31% of their portfolios are in alternatives, which would make most financial advisors gasp for air. But are they right to do so? Don't Miss: Bank of America recently surveyed 1,000 Gen Z and millennial investors with over $3 million in assets, excluding primary residence. The results were starkly different from those of their older counterparts. A striking 72% of investors aged 21 to 43 "believe it is no longer possible to achieve above-average investment returns by investing solely in traditional stocks and bonds." In contrast, only 28% of investors over 44 share this sentiment. And the youth isn't just talking the talk: they allocate only 28% of their portfolios to stocks, compared to 55% for older investors. Instead, they are increasingly turning to alternative investments, which makes perfect sense from their perspective. How are you supposed to believe in the stability of stocks after they've crashed twice in your lifetime? First in 2000 and then in 2008. To them, investing your savings in something that can easily go away in a split second is only worth it if it comes with greater potential gains. That's where real estate, crypto, and private equity enter the picture. Trending: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." These high-yield real estate notes that pay 7.5% – 9% make earning passive income easier than ever. Real Estate — A Solid Foundation Conventional investment categories include stocks, bonds, and cash, which makes real estate an alternative asset. With the volatility of the stock market, real estate offers a tangible asset that can provide stable returns over time. It has historically been one of the most secure ways to create wealth if you have the patience to wait for five to 10 years. Real estate investments can range from residential properties to commercial real estate, and investing in them has never been easier. By the end of the day, you can become a part-owner of individual properties through fractional investing or invest in funds that can net passive income for many years in the future. Story continues Crypto — The Digital Frontier Another asset younger investors are bullish on is cryptocurrencies. Since the first Bitcoin was minted in 2008, the crypto market has grown exponentially, making everyone who bought thousands of the early digital coins very rich a few years later. Today, it continues to offer impressive returns, especially after wider adoption. Crypto is being increasingly used worldwide, which grants more stability and higher returns for those invested. Still, crypto markets are highly volatile, so it's important to educate yourself on the topic before you dive in. Luckily, most crypto exchanges offer free courses on what crypto is and what makes it 100x from time to time. Private Equity — Tapping Into High-Growth Opportunities Investing in private equity essentially means buying shares of startups before they go public. Today, they're taking longer than ever to become tradable, which makes them particularly attractive. Add to that the AI transformation and the fact hundreds of future billion-dollar companies have less than 10 employees today, and it becomes easy to see why private equity is extremely popular. However, most private companies aren't open to regular investors. They usually only rely on VC firms, hedge funds, and angel investors. Read Next: No generation before Gen Z has had this investment opportunity – How successful Zoomers plan to retire in their 30's . Want to invest In homes? $10 is enough on this platform that lets you cash out whenever you want. "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 Gen Z And Millennial Millionaires Couldn't Care Less For Stocks And Bonds — Here's What They're Buying Instead originally appeared on Benzinga.com © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Retired Couple Making Over $9000 A Month With $1 Million Savings Can't Agree Whether To Buy Or Rent — Suze Orman Says 'Listen To Your Wife' 2024-07-02 03:07:00+00:00 - As retirement approaches, many couples face crucial decisions regarding their living arrangements. One such couple recently sought advice from financial expert Suze Orman on whether to buy a home or rent a luxury senior apartment. The husband and wife are financially secure, with a combined monthly income of over $9,000 from pensions and Social Security, savings of around $100,000, and $850,000 in an IRA, annuity, and Roth account. Don't Miss: The average American couple has saved this much money for retirement — How do you compare ? Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." These high-yield real estate notes that pay 7.5% – 9% make earning passive income easier than ever. Orman first highlighted the couple's solid financial standing, noting they have no debt and can sell their current home for $450,000 to $500,000 without incurring capital gains tax. This financial freedom means buying or renting isn't strictly about money but lifestyle preferences and practical considerations. She pointed out the physical demands of home maintenance as a significant factor for retirees. "They are in their seventies and are not sure if they are up to the challenge of daily housekeeping maintenance at their age," she said. KT KT echoed these concerns, highlighting that such tasks become increasingly burdensome as people age. "After 70, you start to feel it," KT remarked, highlighting the importance of considering one's physical capabilities when deciding on living arrangements. The couple is torn between the husband's preference for buying a home and the wife's inclination toward a luxury senior community apartment. The wife enjoys socializing and traveling, benefiting from the amenities and services such communities provide. Suze Orman provided a compelling argument for the wife's choice, focusing on the benefits of senior community living. "You have a community around you," she said, recounting the positive experiences of both her mother and KT's mother in similar settings. These communities offer various activities and social opportunities, such as happy hours, educational classes, movies, swimming, and golf. Trending: Elon Musk and Jeff Bezos are bullish on one city that could dethrone New York and become the new financial capital of the US. Investing in its booming real estate market has never been more accessible. Orman stressed the importance of moving to a senior community while both partners are healthy. "In most cases, you can't move in if one of you is seriously ill," she advised, urging the couple to make the transition sooner rather than later. She also noted women’s higher life expectancy, which could leave the wife managing a house alone if her husband passes away first. Story continues Orman humorously warned, "Your husband probably shouldn't hear this part of the answer," referring to the predominantly female demographics of senior communities and the social perks for the few men who live there. Financial experts often advise evaluating the costs and benefits of both options for seniors with existing homes like this couple. Selling a house can free up equity that can be used to fund other retirement needs or investments while renting can simplify life by eliminating the need for ongoing maintenance and large, unexpected expenses. While buying a home can offer stability, and potential equity growth, renting may provide a more carefree lifestyle, especially valuable in the later stages of life. Financially, the couple can afford either option. Orman, however, leaned toward the wife's preference for a senior community, emphasizing its convenience and reduced responsibilities. She advised the husband to "listen to your wife here because, in the long run, you're gonna be so happy that you did." If you’re exploring options for your retirement living arrangements, remember that the right choice depends on your individual needs and priorities. Consider factors like home maintenance, social engagement, and desired lifestyle when making this important decision. Consulting with a financial advisor can provide valuable guidance and ensure you make the best choice for your golden years. Read Next: "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 Retired Couple Making Over $9000 A Month With $1 Million Savings Can't Agree Whether To Buy Or Rent — Suze Orman Says 'Listen To Your Wife' originally appeared on Benzinga.com © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Why NextEra Energy Partners Plunged Today 2024-07-02 02:18:00+00:00 - Shares of NextEra Energy Partners (NYSE: NEP) fell on Monday, down 8.7% in today's trading. The master limited partnership (MLP) focused on buying and holding renewable energy projects from parent utility NextEra Energy (NYSE: NEE) was down after a Wall Street analyst downgraded the stock and lowered his price target. Why? A potential cut to the company's 13.8% dividend could be in the cards. RBC forecasts a dividend cut for NextEra In his note today, RBC Capital analyst Shelby Tucker lowered his rating on NextEra Partners from outperform to market perform, cutting his price target from $38 to $30. Tucker now believes that there aren't enough lower-cost wind repowering opportunities to grow NextEra's earnings to its 5% to 8% target, and that the company may have trouble keeping the dividend this high while also paying off billions of looming convertible equity portfolio financing (CEPF) maturities. These types of project financings enabled NextEra to fund projects in a relatively low-cost and flexible manner, but NEP's CEPF notes were sold when interest rates were much lower. After 2026, there are $3.7 billion of looming maturities that will need to be paid off. While NextEra has time and options to pay off these liabilities, the increased cost of capital since the CEPFs were sold means that it will be expensive for NextEra to refinance. Thus, while management had contemplated private financings, Tucker thinks the lingering higher interest rate environment will necessitate a cut to the company's distribution. Tucker suspects a 50% cut could be in the cards, and may even be prudent. That would take care of the CEPF financing while leaving the company free from having to take on expensive debt or issue equity. Issuing equity would be painful, with the stock down 68% from its all-time highs. Be wary of MLPs that pay out high dividends Investors may have been tempted to buy NextEra in the past due to its ample and growing dividend. But the problem with these MLP models is that when interest rate or economic worries pop up and the stock goes down, the company can no longer issue stock to grow. Thus, the model becomes "stuck" and can result in painful dilution or cuts to what once looked like a mouth-watering dividend yield. It looks like that is what's happening with NEP today. Should you invest $1,000 in NextEra Energy Partners right now? Before you buy stock in NextEra Energy Partners, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and NextEra Energy Partners wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Story continues Consider when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $757,001!* Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than quadrupled the return of S&P 500 since 2002*. See the 10 stocks » *Stock Advisor returns as of June 24, 2024 Billy Duberstein and/or his clients have no position in any of the stocks mentioned. The Motley Fool has positions in and recommends NextEra Energy. The Motley Fool has a disclosure policy. Why NextEra Energy Partners Plunged Today was originally published by The Motley Fool

Why Rivian Stock Surged Today 2024-07-02 01:53:00+00:00 - Rivian (NASDAQ: RIVN) stock stepped on the bullish pedal Monday. The electric vehicle (EV) specialist's share price ended the day's trading up 3.9%, according to data from S&P Global Market Intelligence. With its share price down roughly 41% year to date, Rivian stock has struggled across the first half of 2024. But some analysts think that the sell-off has become overblown. Analysts at both RBC Capital and Canaccord raised their price targets on the stock today, and the positive momentum helped power its gains. RBC Capital takes a neutral stance on Rivian stock RBC Capital's Tom Narayan published a note on Rivian stock before the market opened this morning, maintaining a sector-perform rating on the stock. While the analyst maintained his overall rating on the stock, he did raise his one-year price target from $11 per share to $14 per share. Based on the stock's closing price today, that reflects an expectation that the EV specialist is accurately valued. Narayan pointed to the company's deal with Volkswagen providing valuable liquidity for Rivian's business and a reinforcing catalyst for its stock. The deal could provide up to $5 billion in investment capital for Rivian. The analyst also said to look for a potential shift into positive gross margins in the fourth quarter as an important indicator for Rivian. Canaccord Genuity is far more bullish In the note it published on Rivian stock today, Canaccord Genuity maintained a buy rating on Rivian stock. More strikingly, the firm raised its one-year price target on the stock from $20 per share to $30 per share. If the EV specialist were to hit that new valuation projection, it would suggest upside of roughly 114%. Canaccord sees Volkswagen's investment in Rivian as a monumental event. The firm thinks that the market is underestimating the impact of the deal, and its new price target points to expectations for a valuation turnaround occurring in the near future. Should you invest $1,000 in Rivian Automotive right now? Before you buy stock in Rivian Automotive, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Rivian Automotive wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $757,001!* Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than quadrupled the return of S&P 500 since 2002*. Story continues See the 10 stocks » *Stock Advisor returns as of June 24, 2024 Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Volkswagen Ag. The Motley Fool has a disclosure policy. Why Rivian Stock Surged Today was originally published by The Motley Fool

Exclusive-Nvidia set to face French antitrust charges, sources say 2024-07-02 01:13:00+00:00 - By Foo Yun Chee BRUSSELS (Reuters) -Nvidia is set to be charged by the French antitrust regulator for allegedly anti-competitive practices, people with direct knowledge of the matter said, making it the first enforcer to act against the computer chip maker. The French so-called statement of objections or charge sheet would follow dawn raids in the graphics cards sector in September last year, which sources said targeted Nvidia. The raids were the result of a broader inquiry into cloud computing. The world's largest maker of chips used both for artificial intelligence and for computer graphics has seen demand for its chips jump following the release of the generative AI application ChatGPT, triggering regulatory scrutiny on both sides of the Atlantic. The French authority, which publishes some but not all its statements of objections to companies, and Nvidia declined comment. The company in a regulatory filing last year said regulators in the European Union, China and France had asked for information on its graphic cards. The European Commission is unlikely to expand its preliminary review for now, since the French authority is looking into Nvidia, other people with direct knowledge of the matter said. The French watchdog in a report issued last Friday on competition in generative AI cited the risk of abuse by chip providers. It voiced concerns regarding the sector's dependence on Nvidia's CUDA chip programming software, the only system that is 100% compatible with the GPUs that have become essential for accelerated computing. It also cited unease about Nvidia’s recent investments in AI-focused cloud service providers such as CoreWeave. Companies risk fines of as much as 10% of their global annual turnover for breaching French antitrust rules, although they can also provide concessions to stave off penalties. The U.S. Department of Justice is taking the lead in investigating Nvidia as it divvies up Big Tech scrutiny with the Federal Trade Commission, a source familiar with the matter has told Reuters. (Reporting by Foo Yun Chee; Editing by Jan Harvey and David Holmes)

Why Snowflake Rallied Today to Start July 2024-07-02 00:52:00+00:00 - Shares of cloud-based data lake provider Snowflake (NYSE: SNOW) were in rally mode Monday even on a rather muted day for many tech stocks. Shares were up 4.8% as of 1:30 p.m. EDT. Snowflake's outperformance is likely due to a positive note issued by analysts at Goldman Sachs, who added the stock to the firm's "Conviction List" today. Goldman likes Snowflake's entry point and innovation pipeline Goldman analyst Kash Rangan added Snowflake's stock to the firm's "Conviction List" today. Rangan's case is that he believes the recent weakness in the stock makes for an "attractive entry point," given that the stock is down for the year, even while Rangan is optimistic about the company's new CEO Sridhar Ramaswamy. Rangan believes Ramaswamy, who is a more product-oriented manager than the company's previous head, can accelerate Snowflake's innovation engine to thrive in the AI era. Of note, Ramaswamy co-founded AI search start-up Neeva in 2019, which Snowflake acquired last year, bringing Ramaswamy into Snowflake. Since then, he's been heading Snowflake's artificial intelligence (AI) strategy, including the development of Snowflake Cortex, a fully managed service that simplifies using Snowflake for AI applications. At the end of February, he was appointed CEO as former CEO Frank Slootman stepped back into the chairman of the board role. Can Snowflake grow into its valuation? Prior to the Goldman note today, Snowflake was about $135 per share -- not too far off from its $120 initial public offering (IPO) price back in September of 2020, nearly four years ago. It's not that Snowflake the business hasn't performed well. Last quarter, core-product revenue surged 34%, and remaining performance obligations, which take into account new capacity to be consumed and recognized by Snowflake in future periods, accelerated 46%. Net retention, meaning how much existing customers used last quarter compared to the prior-year quarter, came in at a healthy 128%. Still, there are worries. Management has guided to just 24% product-revenue growth for the full fiscal year, implying a deceleration. RPO was a bright spot relative to a year ago but actually slightly down from the prior quarter. And a net-retention rate of 128% actually marks a continued deceleration and the lowest figure in Snowflake's history as a public company. With Snowflake having traded extremely expensively its entire life as a public corporation, it's still not particularly cheap at 15 times sales. So while Rangan may be looking at Snowflake's stock being down near its IPO price as a good entry point, keep in mind the stock is not particularly cheap overall. The new CEO will have to be able to reaccelerate growth through AI innovation in order for the stock to have material upside. Story continues Should you invest $1,000 in Snowflake right now? Before you buy stock in Snowflake, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Snowflake wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $757,001!* Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than quadrupled the return of S&P 500 since 2002*. See the 10 stocks » *Stock Advisor returns as of June 24, 2024 Billy Duberstein and/or his clients have no positions in any of the stocks mentioned. The Motley Fool has positions in and recommends Goldman Sachs Group and Snowflake. The Motley Fool has a disclosure policy. Why Snowflake Rallied Today to Start July was originally published by The Motley Fool

Chicken Soup for the Soul Entertainment, swamped by debt, declares bankruptcy 2024-07-01 22:05:00+00:00 - Positive thinking wasn't enough to help Chicken Soup for the Soul Entertainment escape a pile of unpaid bills. The publisher of uplifting books, TV, movie and online video content, which also owns DVD rental operator Redbox, on Friday filed for Chapter 11 bankruptcy protection in Delaware court after racking up nearly $1 billion in debt. Chicken Soup was founded in 1993 by motivational speakers Jack Canfield and Mark Victor Hansen. Over the ensuing years, the company expanded beyond publishing books and developed a range of advertisement-supported video-on-demand services, including Redbox, Crackle, and Popcornflix, according to S&P Capital IQ. The publicly traded company, which is based in Cos Cob, Conn., also runs Redbox Free Live TV, a free ad-supported streaming service, and operates thousands of DVD rental kiosks. Chicken Soup for the Soul owes money to more than 500 creditors, including entertainment companies such as Sony Pictures and Warner Bros. Discovery and retailers Walgreens and Walmart. As of March, the company had debts of $970 million and assets of $414, its bankruptcy filing shows. In court documents, the company said its lenders were unwilling to cooperate with refinancing. A spokesperson for Chicken Soup for the Soul declined to comment. Chicken Soup for the Soul saw rapid growth after going public in 2017, when its investors included Ashton Kutcher, with its annual revenues soaring from less than $10 million to more than $294 million in 2023. The company in 2022 bought Redbox, a dotcom-era survivor best known for its self-serve kiosks outside of pharmacies or groceries stores that let customers rent or sell DVDs. At the time, Chicken Soup for the Soul touted the deal as a way to reach consumers across mediums and boost revenue, but the merged business failed to turn a profit while its losses piled up. The company reported 2023 revenue of roughly $110 million, and in March disclosed in a regulatory filing that it might not be able to continue as a going concern. The company's stock price, which approached $50 in 2021, had tumbled more than 90% over the last year and was priced at 11 cents shortly before the close of trade on Monday. —The Associated Press contributed to this report.

Former Moelis banker seen punching woman is arrested on assault charges 2024-07-01 21:58:00+00:00 - Grilling tips for the July 4 holiday Grilling tips for the July 4 holiday 04:35 Police have arrested and charged the ex-senior banker who resigned from his job at boutique firm Moelis & Co. after a viral video showed him punching a woman in Brooklyn in June. Jonathan Kaye, 52, a former Moelis managing director, was charged Monday for second- and third-degree assault, the New York Police Department told CBS MoneyWatch. The charges stem from an incident at a Brooklyn Pride event on June 8 that was captured on video and widely shared on social media. It showed Kaye appearing to strike a woman, causing her to fall to the ground. The 38-year-old woman later filed a police report alleging that the punch caused her a broken nose, lacerations and a black eye. She also said she became unconscious after hitting the ground, according to the report. Representatives for Kaye, who is Jewish, shared his perspective on the altercation Monday, after charges were filed. They claim Kaye was walking past a group of pro-Palestinian supporters who made antisemitic remarks and threw liquids at him. He "was surrounded, shoved to the ground and further attacked," a spokesperson for Kaye told CBS MoneyWatch. The punch he threw at the 38-year-old woman, which was captured on video, was in "self-defense," his reps said. Kaye's attorney, Danya Perry, said he was "terrorized, assaulted and surrounded by a group of unruly antisemitic protesters" and that the widely shared video doesn't capture the events that led up to the altercation. "...Agitators formed a ring at him, doused him with two unknown liquids, shoved him to the ground and hurled antisemitic slurs at him. Terrified and injured, Mr. Kaye managed to act in self-defense to escape the situation and return safely to his family," Perry said in a statement.

One To The Right, One To The Left: France's National Rally Set For Record Win As The UK's Labour Party Regains Support 2024-07-01 21:54:00+00:00 - Loading... Loading... Surprises are already marking 2024's global election cycle as half of the world population heads to the polls: France's parliamentary election has been overturned by the far right, while in the U.K., the Labor party is expected to win back the House of Commons. Along with the upcoming American presidential election, at least 50 other nations are electing their leadership this year in what will be the largest electoral year of modern times. While an overall shift to the right is widely expected across continents, recent preliminary results and polls are showing stark contrast in two of the world's largest economies. In the U.K. and France, voters are expected to turn the balance of power upside down this week in parliamentary and general elections, though the shifts will be occurring in opposite directions. The U.K. and France are, respectively, the sixth and seventh largest world economies by GDP, and the second and third largest in Europe after Germany. Marine Le Pen And France's Sudden Right Turn: In France, a snap election dominated by the far-right National Rally party had European markets responding positively on Monday, as results show a rise to power by the far-right, but an unlikely supermajority in the National Assembly, which is the country's lower chamber. The preliminary win from the party headed by long-time presidential candidate Marine Le Pen and 28-year-old party President Jordan Bardella, is putting pressure on President Emmanuel Macron to form a coalition that can stop the country from falling into a period of Eurosceptic and anti-immigration policies. Immigration is widely considered one of the best strategies that developed countries can use to curb the catastrophic effects of low birth rates and poor demographic patterns. Yet what's at stake is not only across social or political reform. France's finances hang in the balance after the far right has promised a spending spree that could put the country in an even worse fiscal deficit than it faces today, CNN reports. Read also: EXCLUSIVE: Benzinga Poll Finds 90% Say US President Should Have Maximum Age Requirement Last month, Macron decided to dissolve the National Assembly after results of the European elections showed a large favor from voters towards Le Pen's National Rally. The decision led to this week's snap election, which is being held in two rounds. The first round ended Sunday with the National Rally earning 33.15% of the votes. The New Popular Front, a wide left-wing coalition, came second with 27.99%. Macron's Ensemble alliance sank to a third position with a meager 20.76%. While Macron's grip on power is slipping, his presidential term will continue until 2027, after which he'll be unable to run for a third mandate. The results mark the largest win yet for the far-right, anti-immigrant National Rally, though final results will be defined at the second round this Sunday. The National Rally would need to win 289 of the chamber's 577 seats to have the automatic supermajority. If that were to happen, Macron would be forced to name Bardella as Prime Minister, essentially handing over control of the government to the National Rally. The other possible scenario is that no party wins a supermajority, leading to a gridlocked government with Macron's coalition stuck between the National Rally and the leftist coalition of the New Popular Front. This week will be defined by new strategies and alliances, as Macron's centrist coalition and the left look to avoid a supermajority by Le Pen's far-right coalition. Will Labour Regain Power After 14 Years? In the U.K., the tide is expected to turn in the opposite direction this Thursday, as general elections promise big changes for a conservative government that faces record disapproval rates. Polls are projecting an unprecedented swing towards the center-left Labour party, which has been described as the largest shift in this direction since World War II. According to the Guardian, some projections have the Conservative Party losing as many as 100 seats from the 650 seats that make up the House of Commons, the country's lower chamber. The Conservative Party, also known as the Tories, holds 365 seats, while Labour holds 202. The Tories have been in government for 14 years, putting forth five prime ministers, including a disastrous short-lived mandate by Liz Truss that risked dragging the country into its worst financial crisis in decades. Since 2022, current Prime Minister Rishi Sunak has failed to recover public trust in his party. In the 14 years, the country struggled to grow its economy, while seeing the deterioration of public health and other services. Post-COVID-19 pandemic recovery has been slower than that of other rich nations like the U.S. The election is expected to reinstate Labour support in the Midlands and Northern England, two regions that have historically supported Labour and turned towards the Tories in the 2019 election. Now Read: • Millionaires Set To Flee Britain In Record Numbers In 2024 Over Economic, Political Instability: They ‘Are Already Voting With Their Feet’ Photo: Shutterstock

Gun policy debate now includes retail tracking codes in California 2024-07-01 21:43:00+00:00 - Mass shooting victims come together to call for change Mass shooting victims come together to call for change 02:46 Laws taking effect Monday in California and Tennessee highlight the nation's stark divide over guns: While the former is looking to help banks track potentially suspicious gun purchases in hopes of thwarting mass shootings and other firearm-related homicides, the latter is seeking to prohibit the practice. Major credit card companies as of today have to make a merchant code available for firearm and ammunition retailers to comply with California's new law to aid banks in monitoring gun sales and flag suspicious cases to authorities. The law requires retailers that primarily sell firearms to adopt the code by May 2025. Democratic-led legislatures in Colorado and New York this year also passed measures mandating firearms codes that kick in next year. The idea behind a gun merchant code is to detect suspicious activity, such as a person with no history of buying firearms suddenly spending large sums at multiple gun stores in a short period of time. After being notified by banks, law enforcement authorities could investigate and possibly prevent a mass shooting, gun control advocates contend. On the other side of the issue, gun-rights advocates are concerned the retail code could impose unfair scrutiny on law-abiding gun purchasers. During the past 16 months, 17 states with Republican-controlled legislatures have passed bills banning a firearms store code or curtailing its use. "We view this as a first step by gun-control supporters to restrict the lawful commerce in firearms," Lawrence Keane, senior vice president of the National Shooting Sports Foundation, told the Associated Press. California's measure coincides with a separate state law in Tennessee that bans the use of firearm-specific merchant codes, with the National Rifle Association lauding it as protecting the financial privacy of gun owners. Mastercard, Visa and American Express worked to comply with the new California measure, as CBS News reported earlier in the year. The credit card networks had initially agreed to implement a standalone code for firearm sellers, but put that effort on hold after objections from gun-rights advocates. Credit cards are used to facilitate gun crimes all across America, according to Guns Down America, which argues at retail codes could prevent violence stemming from cases of straw purchases, gun trafficking and mass casualty events. A report by the nonprofit advocacy cited eight mass shootings that possibly could have been prevented, including the Aurora, Colorado, movie theater shooting and the Pulse Nightclub shooting in Orlando, Florida, because each perpetrator used credit cards to mass arsenals in a short period of time. U.S. Surgeon General Vivek Murthy last week decried gun violence to be an escalating public health crisis, with more than 48,000 Americans killed with firearms in 2022. —The Associated Press contributed to this report.

A Major Part of Biden’s Student Loan Repayment Plan Is Restored 2024-07-01 21:37:55.798000+00:00 - Major components of President Biden’s student loan repayment plan can continue to operate as lawsuits challenging it wind through the legal system, a federal appellate court ruled on Sunday. That frees the administration to cut certain borrowers’ payments by as much as half, a benefit that had been previously scheduled but blocked. The order, from the U.S. Court of Appeals for the 10th Circuit in Denver, is the latest twist in a saga that began to unfold last week after two federal judges temporarily suspended parts of the plan known as SAVE. That program, which has about eight million enrollees, ties borrowers’ monthly payment amounts to their income and household size. Two judges, one in Kansas and another in Missouri, last Monday issued separate preliminary injunctions, which are tied to lawsuits that were filed in the spring by two groups of Republican-led states that seek to upend the SAVE program. The Kansas order suspended parts of the program that were not yet in place, including a big decrease in monthly payments for people with undergraduate debt — to 5 percent of their discretionary income from 10 percent — which was to take effect on July 1. The judge in Missouri blocked new debt cancellation through the SAVE program, though legal experts initially said it wasn’t clear how widely that ruling should be interpreted.

'House of the Dragon' just introduced a big-mouthed new character — but he's probably going to be important later on 2024-07-01 21:33:40+00:00 - 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. Access your favorite topics in a personalized feed while you're on the go. download the app Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Warning: Spoilers ahead for "House of the Dragon" season two, episode three, and the book "Fire and Blood." This week's episode of "House of the Dragon" took a brief detour into the seedier parts of King's Landing — and in the process, it introduced us to yet another character who will likely serve a pivotal role later in the series. Season two, episode three, titled "The Burning Mill," briefly spotlighted a cheery bar patron, Ulf. After working the room a bit, Ulf settles down at a table and almost immediately claims to a stranger he's a Targaryen descendant. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. While it'd be easy to dismiss Ulf's claim as drunken hearsay, there's probably some merit to it. We're probably going to be seeing a lot more of Ulf in "House of the Dragon," depending on how closely it follows "Fire and Blood," George R.R. Martin's history of Westeros. Advertisement If you're not keen on spoilers for "Fire or Blood," or the potential future of "House of the Dragon," best not to read ahead. Ulf claims to be the son of Baelon the Brave, and thereby a descendant of King Jaehaerys At the tavern, Ulf meets a Dornish man and remarks that Dorne was one part of Westeros that his house never conquered. When pressed, he plays coy, and then lets slip that King Jaehaerys was his grandsire. His father, he says, was Baelon the Brave, making Ulf the illegitimate brother of Daemon Targaryen and King Viserys. Ulf also refers to Rhaenyra — his niece, if his claims are to be believed — as the "one true queen," a dangerous move in the Aegon II-controlled King's Landing. Related stories "The blood of the dragon runs through these veins, and yes, men would take my head for it," Ulf says. "A Dragonseed must watch his own neck when he has no white-cloaked guardsmen to do it for him." Advertisement Ulf eventually shuts up after saying that his "nephew," Prince Jacaerys Velaryon, is the rightful heir to the Iron Throne. Coincidentally, that's the moment that Aegon II walks in with his entourage — and Ulf is quick to call out an "All hail the King!" Ulf becomes a dragon rider in 'Fire and Blood' In "Fire and Blood," Prince Jacaerys issues a challenge in a bid to make use of the unclaimed dragons during the war: Any man able to successfully mount a dragon without a master would be richly rewarded. Some of those men were "seeds" — bastards who had Targaryen blood in their veins. Ulf successfully bonded with Silverwing, the former mount of Queen Alysanne, the sister and wife of King Jaehaerys. During that time, he was referred to as "Ulf the White" or "Ulf the Sot," referencing his white hair and drinking habit. Eventually, he came to be known as Ulf White. Ulf fought alongside other dragon riders like Hugh Hammer in the Battle of the Gullet, a pivotal sea battle during the war. "Fire and Blood," citing the historical record left by the dwarf Mushroom, recounts that both Hugh and Ulf celebrated after the violent battle, with Ulf declaring that they should become lords. Advertisement Ulf and Hugh were several times denied entry into nobility. Rhaenyra shut down a potential marriage between Ulf and the daughter of Lord Stokeworth, after killing the lord for betraying her. She also denied Daemon's proposal of granting Storm's End, the seat of House Baratheon, to Ulf, after the Baratheons sided with Aegon II during the war. In the book, Ulf and Hugh betrayed Rhaenyra During the war, Ulf, Hugh, and their dragons Silverwing and Vermithor, were sent to the town of Tumbleton to defend it from Lord Ormund Hightower, who was advancing toward King's Landing. During the battle, however, the two defected and attacked the town instead. According to Mushroom's historical account in "Fire and Blood," Ulf descended into hedonism, raping multiple women in Tumbleton each night and constantly drinking. Though Prince Daeron, Alicent and King Viserys' youngest son, had named him the Lord of Bitterbridge, he coveted Highgarden, the seat of House Tyrell. He and Hugh refused to advance on King's Landing until they were rewarded sufficiently, and the lords under Prince Daeron conspired to kill them. But the fight came to Tumbleton when Addam Velaryon (previously Addam of Hull), another dragon rider, attacked the city on his dragon Seasmoke. Ulf was drunk and asleep during the battle, during which Hugh, Daeron, and Addam all died. When he awoke, he agreed to march on King's Landing, and said that he should be instilled on the throne after they conquered it. Advertisement Shortly after, Hobert Hightower killed Ulf — and in the process, himself — through a poisoned cask of wine.

Russia's new 3.3-ton glide bomb escalates the destructive potential of its airstrike campaign against Ukraine 2024-07-01 21:33:31+00:00 - 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. Access your favorite topics in a personalized feed while you're on the go. download the app Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview The Russian Aerospace Forces are using a new munition in Ukraine that might change the situation on the ground. In June, Russian aircraft deployed for the first time the FAB-3000 M-54 glide bomb. Weighing thousands of pounds, the munition can prove quite destructive for Ukrainian military and civilian targets. Ukrainian outlets reported the use of the glide bomb against Ukrainian troop concentration points in Kharkiv Oblast in eastern Ukraine. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Although the bombing itself appears to have been inaccurate, the FAB-3000 M-54's destructive capability is such that even munitions that do not hit their specific targets can be deadly because of their greater destruction radius. The fact that this is a glide bomb and it can be released outside the range of Ukrainian air defenses makes the munition even more dangerous. "Russian forces used the new FAB-3000 M-54 bomb with a unified planning and correction module (UMPC) to strike Ukrainian positions in Kharkiv Oblast for the first time, representing a new Russian capability with a high potential for destruction if Russian forces continue to be able to use such weapons uninhibited," the Institute for the Study of War assessed in a recent operational update on the war. Advertisement Ukrainian Air Force officials, however, noted that they couldn't provide a final estimate on the exact type of munition used by the Russian Aerospace Forces. 🇷🇺🇺🇦 Russian FAB3000, 3 ton glide bombs are in mass usage. 6600 pounds guided straight into a fortification … and gone pic.twitter.com/BqvSYxsfHt — Lord Bebo (@MyLordBebo) June 28, 2024 The FAB-3000 M-54 is a conventional, or "dumb," bomb that can be converted into a glide munition with the addition of the UMPC. In March, Russian officials first announced the mass production of FAB-3000 M-54 munitions. Previously, the Russian military had trouble attaching the heavy munition, which weighs almost 7,000 lbs, to tactical aircraft. However, Russian technicians seem to have found a solution. Related stories "The fact that Russian forces have figured out how to launch FAB-3000s is a significant development and will increase the destructive potential of Russia's ongoing glide bomb attacks against Ukrainian forces and infrastructure," the Institute for the Study of War added. Advertisement As the conflict continues, the Russian Aerospace Forces have increasingly been relying on guided and unguided glide bombs to hit Ukrainian targets. These munitions are released from long distances and travel or glide to their targets while the aircraft launching them is safely away. "Russian forces have already increased guided and unguided glide bomb use against Ukraine, particularly in Kharkiv Oblast, to devastating effect, and should Russian forces be able to launch massive barrages of FAB-3000s (or even heavier guided glide bombs), they will be able to cause even more widespread damage to Ukrainian frontline positions and critical infrastructure," the Institute for the Study of War stated. The performance of the Russian Aerospace Forces A Soviet aircraft bomb FAB-3000 M-54 is on display at the Aviation Museum in Kyiv. Апатинаити, CC BY-SA 3.0 via Wikimedia Commons The Russian Aerospace Forces have largely failed in the conflict so far. When it comes to air superiority, although more numerous and with better quality, Russian aircraft have not established control over the skies. Ukrainian pilots have been putting out a stalwart resistance, and there are also too many antiaircraft systems of all ranges on the battlefield. When it comes to strategic strikes, they have faired only slightly better. Relying on a combination of stand-off and glide munitions, Russian aircraft have been targeting Ukrainian critical infrastructure and urban centers. Advertisement However, the questionable quality of these munitions, in conjunction with the powerful — but depleting — Ukrainian air defenses, have largely ensured that these strikes haven't been as consequential to the course of the war as the Kremlin would want. Finally, in terms of close air support, the Russian Aerospace Forces have done better but their performance is still far from altering the battlefield. Using fixed- and rotaty-winged attack aircraft, the Russian military has been able to gain tactical superiority during some times and in specific areas of the contact line. But beyond causing some additional casualties to the Ukrainian forces, Russian tactical aviation hasn't made a difference. READ MORE FROM SANDBOXX NEWS

This Justice Ketanji Brown Jackson Supreme Court dissent claps back against grifters 2024-07-01 21:20:41+00:00 - Justice Ketanji Brown Jackson is calling out her fellow justices for enabling grifters. At the end of last week, the Supreme Court continued its assault on public corruption laws with a Thursday ruling that provides a roadmap to graft. Interpreting a federal statute that prohibits public officials from accepting bribes, the majority held in Snyder v. United States that, so long as a gift is given as a reward after the official performs the corrupt act, no crime occurs. Snyder is just the latest in a long line of cases issued by Chief Justice John Roberts’ court that have gutted public corruption cases. In recent years, the court has also cut back on the application of corruption statutes in several cases. As Jackson noted in her Snyder dissent, this “absurd and atextual reading of the statute is one only today’s Court could love.” As Jackson noted in her Snyder dissent, this “absurd and atextual reading of the statute is one only today’s Court could love.” At issue in Snyder is a federal statute we used frequently to prosecute corrupt government officials when I served as a federal prosecutor. Section 666 prohibits state and local officials from corruptly soliciting, demanding or accepting anything of value “intending to be influenced or rewarded” in connection with government business. The case involved James Snyder, a former mayor of Portage, Indiana. Snyder was convicted of accepting a $13,000 payout from Great Lakes Peterbilt after steering the city to buy trash trucks from the company at a cost of $1.1 million. But because the payment came after he bought the trucks, the Supreme Court concluded Snyder did not violate Section 666 and overturned his conviction. Writing for the majority, Justice Brett Kavanaugh concluded that while the statute prohibits bribes that are paid before the commission of a corrupt official act, it does not cover “gratuities,” which are paid afterwards. Among the reasons for its holding, the court noted that the statute would otherwise fail to provide fair notice as to whether conduct was criminal. “Is a $100 Dunkin’ Donuts gift card for a trash collector wrongful?” Kavanaugh wrote. “What about a $200 Nike gift card for a county commissioner who voted to fund new school athletic facilities? Could students take their college professor out to Chipotle for an end-of-term celebration? And if so, would it somehow become criminal to take the professor for a steak dinner? Or to treat her to a Hoosiers game?” The majority’s lamenting the criminalization of gifts to public officials, who, after all, receive a salary for their work, is a bad look. This is especially true given the recent ethics challenges plaguing some of the justices. Jackson, joined in her dissent by Justices Sonia Sotomayor and Elena Kagan, forcefully pointed out the flaws in the court’s logic. First, the language of the statute itself includes the word “reward.” What happened to textualism? Jackson blasted the majority for elevating “nonexistent federalism concerns over the plain text of this statute.” She also criticized the majority for taking the view that applying Section 666 to gratuities would give too much power to federal prosecutors for crimes that should be handled at the state level. “But woulds, coulds, and shoulds of this nature must be addressed across the street with Congress, not in the pages of the U. S. Reports.” In other words, she argued, the court is legislating from the bench by making policy instead of staying in its lane of interpreting the laws passed by Congress. Second, Jackson noted that limiting language in Section 666 already provides fair notice of the statute’s reach, which negates the majority’s concerns about the “prosecution of the gift cards, burrito bowls, and steak dinners that derail [the] decision.” Suggesting that the majority’s real concern was its hostility to federal regulation over the states, Jackson defended the federal government’s duty to safeguard federal funds. One such limitation of the statute is that it only covers officials of entities that receive more than $10,000 per year from the federal government. Jackson noted that "when Congress has appropriated federal money, it does not have to sit by and accept the risk of operations thwarted by local and state improbity.” Suggesting that the majority’s real concern was its hostility to federal regulation over the states, Jackson defended the federal government’s duty to safeguard federal funds. Congress had every right to enact laws, she wrote, “to ensure the integrity of organizations participating in federal assistance programs.” The statute also only applies to conduct that is committed “corruptly.” The court, she wrote, has previously defined corruptly to mean “wrongful, immoral, depraved, or evil” conduct, requiring “consciousness of wrongdoing.” That language would require proof that an official not only acted wrongfully in accepting a gift, but that the official knew they were acting wrongfully. This wording should prevent the prosecution of an official who accepts a small gift as a token of appreciation, a far cry from the $13,000 reward Snyder received for delivering a $1.1 million contract. Jackson’s opinion states what should be obvious: “Officials who use their public positions for private gain threaten the integrity of our most important institutions. Greed makes governments — at every level — less responsive, less efficient, and less trustworthy from the perspective of the communities they serve.” The majority should take the hint.