AltEnergy Acquisition Stock (NASDAQ: AEAEU)

Latest news for AltEnergy Acquisition (NASDAQ:AEAEU) Stock

AltEnergy Acquisition Corp is a blank check company.

AltEnergy Acquisition Corp

RBC Capital analyst Matthew Hedberg reiterates Informatica (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INFA#NYSE">INFA</a>) with a Outperform and maintains $35 price target.

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Reiteration

Analyst Ratings

INFA

RBC Capital Reiterates Outperform on Informatica, Maintains $35 Price Target

WIIM

Live Nation Entertainment shares are trading higher after the company reported better-than-expected Q2 revenue results. The stock initially traded lower, but it has since reversed.

Barrington Research analyst Gary Prestopino maintains CCC Intelligent Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCCS#NASDAQ">CCCS</a>) with a Outperform and maintains $14 price target.

CCCS

Barrington Research Maintains Outperform on CCC Intelligent Solutions, Maintains $14 Price Target

A new report raises serious questions about the true <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39967024/solana-up-24-on-the-month-outperforms-bitcoin-ethereum-what-is-going-on">health of the Solana</a> (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) ecosystem, suggesting that its meteoric rise may be built on a foundation of sand.
What Happened: The <a href="https://x.com/flip_research/status/1818216739680710776?s=46">report</a> by Flip Research, titled &#8220;SOL- The Emperor&#8217;s New Clothes,&#8221; suggests that up to 93% of Solana&#8217;s trading activity may be non-organic, fueled by wash trading, rug pulls, and exploitative MEV practices.
Despite Solana&#8217;s claims of surpassing Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) in daily active users and transaction volumes, the investigation uncovers a darker reality of inflated numbers, rampant scams and an ecosystem that may be unsustainable in the long term.
Benzinga has reached out to Solana for a comment.
At the heart of the investigation lies a startling discrepancy in user activity. 
While Solana boasts 1.3 million daily active users compared to Ethereum&#8217;s 376,300, the transaction patterns raise red flags.
&#8220;On Friday 26th July, ETH had 1.1M txs vs 376.3k DAUs, roughly 2.92 daily transactions per user. However SOL had 282.2M txs vs 1.3M DAUs, a massive 217 daily transactions per user,&#8221; Flip Research notes.
This anomaly led the researcher to dig deeper, uncovering a disturbing trend of wash trading and rug pulls on Solana-based decentralized exchanges (DEXs). 
&#8220;In the last 24hrs on Raydium&#8217;s standard LPs, there were over 50 rugs with &gt;$2.5M vol, which in total generated more than $200M volume and over $500K in fees,&#8221; the report states.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40066426/sec-charges-bitclout-founder-with-257m-crypto-fraud-scheme">SEC Charges BitClout Founder With $257M Crypto Fraud Scheme</a>
Why It Matters: The implications of these findings are far-reaching.
&#8220;Considering both the abnormally high transaction-to-user ratio, and amount of wash trades/rugs onchain, it appears that the vast majority of trades are non-organic,&#8221; the analyst stated. 
The analyst goes so far as to estimate that &#8220;over 93% of the trades (and by extension, fees) on Solana are non-organic.&#8221;
The report also highlights concerns about Solana&#8217;s Miner Extractable Value (MEV) dynamics. 
Unlike Ethereum, Solana&#8217;s unique structure has created an environment where &#8220;the vast majority of tokens traded are ultra high volatility, low liquidity meme coins, where traders often set slippages of &gt;10% for their trades to execute successfully.&#8221; 
This situation has led to significant value extraction from retail traders.
Adding to the network&#8217;s woes, the researcher points out several fundamental issues, including &#8220;Poor chain stability, with numerous outages,&#8221; &#8220;High rates of failed transactions,&#8221; and an &#8220;Unreadable explorer.&#8221;
Perhaps most damning is the assessment of Solana&#8217;s long-term prospects. 
&#8220;Once users are fatigued from ongoing losses, many of these metrics will collapse quickly,&#8221; the report warned. 
&#8220;Ultimately I believe that SOL is overvalued from a fundamental perspective, and while existing sentiment + momentum may well drive price increases in the short term, the longer term picture is far more uncertain,&#8221; the report states.
What&#8217;s Next: As the cryptocurrency market continues to evolve, these findings about Solana&#8217;s potentially inflated metrics and market manipulation will be a key topic of discussion at Benzinga&#8217;s <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19.
Read Next: 
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<li><a href="https://www.benzinga.com/top-stories/24/07/40066385/strategic-bitcoin-reserve-could-be-paid-for-by-federal-reserve-earnings-and-reevaluating-gold-propos">Strategic Bitcoin Reserve Could Be Paid For By Federal Reserve Earnings And Reevaluating Gold, Proposes Senator Lummis</a></li>
</ul>
Image: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$ETH

$SOL

Inflated Solana Metrics Mean It's 'Overvalued' Compared To Ethereum, Report Claims

BWS Financial analyst Hamed Khorsand maintains TriMas (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRS#NASDAQ">TRS</a>) with a Buy and maintains $40 price target.

BWS Financial Maintains Buy on TriMas, Maintains $40 Price Target

Modine Manufacturing shares are trading higher after the company reported better-than-expected Q1 financial results.

A 20-year-old man is grappling with a major life decision: Should he buy a home with his parents or prioritize his future?
The young man, Reddit poster r/RealEstate, has a stable job and good credit. He said he lives with his parents in an apartment. The family wants to <a href="https://www.benzinga.com/real-estate/24/07/39959903/homebuyers-now-require-at-least-100k-in-annual-income-to-purchase-a-median-priced-u-s-home-are-homes">buy a home</a>, but it will have to be purchased under the young man's name because his credit is better than theirs. He could get a lower interest rate on the mortgage, which is a little less than $300,000.
Don't Miss:
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<li>If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends<a href="https://www.benzinga.com/money/arrived-private-credit-fund"> would you invest in it</a>?</li>
<li>A billion-dollar investment strategy with minimums as low as $10 —<a href="https://www.benzinga.com/money/fundrise-flagship-fund"> you can become part of the next big real estate boom today.</a></li>
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"If we go through with the purchase of the home, I would have to help out more with bills … as they probably would not be able to pay it all themselves," r/RealEstate wrote. "I currently do not pay rent in our apartment, so obviously my savings rate would go down."
While <a href="https://www.benzinga.com/real-estate/24/05/38582678/janet-yellen-says-its-almost-impossible-for-first-time-homebuyers-to-enter-housing-market">homeownership</a> can offer financial benefits and stability, there are potential drawbacks. By taking on a mortgage at such a young age, the man risks limiting his flexibility to relocate for job opportunities or personal reasons. Additionally, shouldering the financial burden of a mortgage could impact his ability to save for other life goals, such as graduate school or starting a family.
Trending: Commercial real estate has historically outperformed the stock market, and<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!</a>
Although refinancing the home in the future could make the monthly payments more affordable for r/RealEstate's parents, he is concerned that he may not be able to buy a house for himself and his future family if it remains in his name.
"I obviously would not kick my parents out of the home," he said.
Financial experts often advise young adults to focus on building savings and establishing credit before making a significant investment like homeownership. But in some cases, buying a home can be a strategic move. It's essential to weigh the pros and cons carefully and consider long-term financial implications before deciding.
See Also: This Jeff Bezos-backed startup will allow you to<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> become a landlord in just 10 minutes, and you only need $100</a>.
The post sparked a discussion among Reddit users, who largely advised r/RealEstate against purchasing the house.
"The fact your parents need to put a loan under your name because your credit is better than theirs is an immediate red flag," Great_Celebrations965 wrote. "Aside from that, question yourself if you trust your parents to be so fiscally responsible as to be personally liable for nearly $300K. How are they managing money? Have they been good about paying debts in the past?"
Great_Celebrations warned that your credit score follows you around forever and that failing to pay off a $300,000 debt on time could damage the score, making it difficult to repair.
See Also: Will the surge continue or decline on real estate prices?<a href="https://www.benzinga.com/money/realbricks"> People are finding out about risk-free real estate investing that lets you cash out whenever you want.</a>
Wandering_aimlessly9 shared that it was difficult when they purchased their first home at age 25 after getting a degree.
"You will lose out on a lot of benefits by getting the house now, and what is even worse is that if you decide to buy a house in the future … this current house will MURDER your debt to income ratio," Wandering_aimlessly wrote. "Plus, you have no access to the equity. And if I had to guess … they would want to be on the deed but not on the mortgage. YOU will be responsible for the repairs and such. If they don't do maintenance and upkeep YOU will be the one losing equity and being punished."
Read Next:
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<li>Want to invest in homes?<a href="https://www.benzinga.com/money/realbricks"> $100 is enough on this platform</a> that lets you cash out whenever you want.  </li>
<li>Finally allowing commercial real estate investing to be more accessible —<a href="https://www.benzinga.com/money/equitymultiple-ascent-fund"> This fund aims to triple your money in 10 years is with a surprisingly low minimum.</a></li>
</ul>

Real Estate

20-Year-Old Juggles Mortgage And College – Is Buying A Home For Parents A Wise Move?

The U.S. Education Department is inching closer to the implementation of a comprehensive student debt cancellation plan, potentially bringing relief to millions of student loan borrowers.
What Happened: The Education Department has announced that it is making headway in its plan to cancel student debt using the Higher Education Act of 1965, as per a Business Insider <a href="https://www.businessinsider.in/policy/economy/news/millions-of-student-loan-borrowers-should-be-on-the-lookout-for-an-email-update-on-bidens-broader-debt-cancellation-plan-they-might-need-to-take-action-/articleshow/112168605.cms">report </a>on Wednesday. This move comes after the Supreme Court dismissed President Joe Biden&#8217;s initial relief attempt last summer.
Currently undergoing a negotiated rulemaking process, the plan is set to benefit over 30 million borrowers. This process involves the department negotiating with stakeholders and holding a public comment period before finalizing the rule.
All borrowers with at least one federal outstanding student loan will receive an email from the Education Department with updates on the relief, including a notification of an Aug. 30 deadline to contact their servicer if they wish to opt-out.
See Also: <a href="https://www.benzinga.com/news/24/07/40003111/potential-kamala-harris-vp-pick-pete-buttigieg-says-voters-are-worried-about-age-and-acuity-of-presi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Potential Kamala Harris VP Pick Pete Buttigieg Says &#8216;Voters Are Worried About Age And Acuity Of President</a>
Some borrowers may choose to opt out of the current plan due to concerns about state tax liabilities if they receive loan forgiveness. The department has stated that those who opt out cannot opt back in later. The rules are not yet finalized, and borrowers who receive an email are not automatically guaranteed relief. The department will provide additional details to eligible borrowers upon finalization.
Why It Matters: The previous round of <a href="https://www.benzinga.com/general/education/24/04/38223721/biden-wipes-more-than-7m-in-student-debt-for-277k-borrowers-too-many-people-feel-the-strain-and">student loan debt cancellation</a> by President Biden, which amounted to more than $7.4 billion, benefited roughly 277,000 borrowers. However, it faced opposition from GOP-led states and was eventually blocked by a <a href="https://www.benzinga.com/government/24/07/39849095/appeals-court-blocks-bidens-save-student-loan-debt-relief-plan">federal appeals court</a>.
The Education Department released its draft rules for debt relief in April, with plans to finalize the rules by October. However, the plan could face lawsuits similar to those that struck down Biden&#8217;s first plan, potentially causing delays to the relief depending on court rulings.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/07/40002603/kamala-harris-raises-200m-in-a-week-66-of-that-money-is-from-donors-reveals-campaign-manager-a-peopl?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kamala Harris Raises $200M In A Week, 66% Of That Money Is From Donors, Reveals Campaign Manager: &#8216;A People-Powered Campaign&#8217;</a></li>
</ul>
Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Government

Regulations

Politics

General

Students Keep A Close Watch On Email Inboxes As Biden's Debt Relief Plans Make Headway

INCY

Incyte shares are trading lower. The company yesterday reported mixed Q2 financial results.

RBC Capital analyst Ken Herbert maintains Leidos Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LDOS#NYSE">LDOS</a>) with a Sector Perform and raises the price target from $140 to $145.

LDOS

RBC Capital Maintains Sector Perform on Leidos Holdings, Raises Price Target to $145

Goldman Sachs analyst Eric Sheridan maintains DoubleVerify Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DV#NYSE">DV</a>) with a Buy and raises the price target from $25 to $28.

Goldman Sachs Maintains Buy on DoubleVerify Hldgs, Raises Price Target to $28

Macquarie analyst Paul Golding maintains Live Nation Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>) with a Outperform and maintains $125 price target.

Macquarie Maintains Outperform on Live Nation Entertainment, Maintains $125 Price Target

RBC Capital analyst Rishi Jaluria reiterates Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) with a Outperform and maintains $500 price target.

MSFT

RBC Capital Reiterates Outperform on Microsoft, Maintains $500 Price Target

<a href="https://docs.publicnow.com/viewDoc?hash_primary=884BFC6472BDD33DE1AB3F7095FA4EAB3D50D49E" title="https://docs.publicnow.com/viewDoc?hash_primary=884BFC6472BDD33DE1AB3F7095FA4EAB3D50D49E">https://docs.publicnow.com/viewDoc?hash_primary=884BFC6472BDD33DE1AB3F7095FA4EAB3D50D49E</a>

CSX Transportation Filed A Notice Of Exemption With The Surface Transportation Board To Abandon An ~5.1-Mile Rail Line In Pike County, Ky

Truist Securities analyst Jamie Cook reiterates Zebra Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZBRA#NASDAQ">ZBRA</a>) with a Hold and raises the price target from $315 to $345.

ZBRA

Truist Securities Reiterates Hold on Zebra Technologies, Raises Price Target to $345

CBIZ shares are trading lower after the company reported worse-than-expected Q2 financial results. Additionally, the company announced it entered into an agreement to acquire the Non-attest business of Marcum in a cash and stock transaction value at $2.3 billion.

Travel technology firm Booking Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>) has been fined €413.2 million ($447.1 million) by Spain's competition regulator, CNMC.
What Happened: The CNMC stated that, since early 2019, Booking.com imposed several unfair conditions on Spanish hotels using its platform, reported the <a href="https://chatgpt.com/c/d981efb6-9f2f-429d-b6ad-a0e85a0e5c8e">Wall Street Journal</a>.
These conditions included prohibiting hotels from offering lower room prices than those listed on Booking.com, while the platform retained the right to reduce room prices unilaterally. 
Additionally, the regulator noted that the company required hotels to settle legal disputes under Dutch law, leading to higher litigation costs for Spanish hotels.
The investigation was initiated following complaints in 2021 by industry groups including the Spanish Association of Hotel Directors and the Hotel Business Association of Madrid. 
Also Read: <a href="https://www.benzinga.com/news/earnings/24/07/39821623/booking-holdings-teams-up-with-visa-to-aid-diners">Booking Holdings Teams Up With Visa to Aid Diners</a>
Why It Matters: The CNMC's ruling mandates several changes that Booking must implement to ensure fair competition in the market.
With a market share between 70% and 90% in Spain, Booking was found to have restricted competition from other online travel agencies. 
The CNMC highlighted that the platform ranked hotels based on their bookings through Booking.com, thereby encouraging hotels to rely exclusively on its services for online bookings. This practice was deemed to stifle competition and limit consumer choices.
A spokesperson for Booking Holdings said, &#8220;We strongly disagree with the outcome of the CNMC investigation,&#8221; emphasizing that the EU's Digital Market Act should address these issues on a broader European level rather than on a country-by-country basis.
Price Action: BKNG shares closed higher by 0.91% at $3,720.99 on Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Now Read: 
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Image: Shutterstock

Travel

Legal

BKNG

Booking.com Fined Over $447M By Spanish Regulator: Report

Truist Securities analyst Neal Dingmann maintains Vital Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTLE#NYSE">VTLE</a>) with a Buy and raises the price target from $68 to $69.

VTLE

Truist Securities Maintains Buy on Vital Energy, Raises Price Target to $69

The board of directors ofEssential Utilities Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WTRG#NYSE">WTRG</a>) today declared a quarterly cash dividend of $0.3255 per share, payable September 3, 2024, to all shareholders of record on August 12, 2024.
The September 2024 dividend payment of $0.3255 per share represents a $0.0184, or 6.0% increase over the September 2023 dividend payment of $0.3071 per share. Essential Utilities has paid consecutive quarterly cash dividends for 79 years and has increased the dividend 34 times in the last 33 years.

Dividends

WTRG

Essential Utilities Increases Quarterly Dividend From $0.3071 To $0.3255 Per Share

RBC Capital analyst Scott Heleniak maintains NMI Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NMIH#NASDAQ">NMIH</a>) with a Sector Perform and raises the price target from $34 to $40.

The Only Monthly Membership With a Positive ROI!

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The Only Monthly Membership With a Positive ROI!

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AltEnergy Acquisition

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Latest news for AltEnergy Acquisition (NASDAQ:AEAEU) Stock

Friday, October 29, 2021