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AMTD IDEA (NYSE:AMTD) Stock, Option Chain

TD Ameritrade Holding

AMTD IDEA Group

AMTD IDEA Group is a financial institution operating in five business segments: The capital market solutions segment assists customers in raising funds through equity and debt financing, private placements, and debt issuances. The digital solutions and other services segment provides institutional and corporate clients with paid access to enhance investor communication and relations, corporate communication also provides digital financial solution services. The Media and entertainment segment offers print and digital advertising campaigns, licensing, and marketing services including branded content, video production. The hotel operations, hospitality, and VIP services segment engages in hotel investments, hotel operations, hospitality, and VIP services; and Strategic investment segment.

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AMTD IDEA Group American Depositary Shares, each representing six (6) Class A Ordinary Shares

AMTD Digital Inc. American Depositary Shares (every five of which represent two Class A Ordinary Shares)

AMTD Digital Inc

WIIM

AMTD Digital shares are trading higher after the company announced a partnership with Alibaba Pictures Culture for firm, entertainment, and fashion.

AMTD Digital shares are trading higher after the company announced a partnership with Alibaba for a collaboration around film entertainment, and fashion media.

AMTD Group Inc. ("AMTD" or the "Group"), alongside with World Media and Entertainment Group ("WME"), a subsidiary of the Group under AMTD Digital, jointly announced a comprehensive partnership with Beijing Alibaba Pictures Culture Limited ("Alibaba Pictures Culture") in the fields of film, entertainment, contents, and fashion media.
WME focuses on the Group's global strategies and long-term developments in multi-media, entertainment, and cultural affairs worldwide.
WME comprises a diversified portfolio of global media and entertainment projects, including L'OFFICIEL, The Art Newspaper, movie and entertainment projects, and L'OFFICIEL Coffee.
Alibaba Pictures Culture, a subsidiary of Alibaba Pictures Group Limited (HKEX: 1060), is an important vertical of Alibaba's Cultural Entertainment Business Sector, a leading internet-driven film company, and an integrated entertainment platform that covers the entire upstream and downstream industries.
AMTD, WME, and Alibaba Pictures Culture have committed to collaborating on film investments and promoting the development of the Chinese film industry. Moreover, the parties aim for long-term collaboration in culture, entertainment and fashion media areas.
The partnership marks a starting point for the parties to jointly explore, originate and develop domestic and overseas projects in these fields.

BABA

AMTD And World Media And Entertainment Announces Partnership With Alibaba Pictures Culture For Film, Entertainment, And Fashion Media Collaboration

&nbsp;
<ul>
<li>World Media and Entertainment Universal Inc. (&quot;WME&quot;) is a global media and entertainment company covering high fashion, arts, lifestyle, cultural, entertainment and luxury hospitality.</li>
<li>WME&#39;s diverse portfolio includes L&#39;Officiel, one of the oldest and iconic fashion magazines in the world, The Art Newspaper, one of the top publications of the art industry internationally and a leading source of information in the art world, and a global portfolio of premium hotels properties.</li>
<li>Black Spade Acquisition II Co (&quot;BSII&quot;) and WME are combining at a transaction equity value of approximately US$488 million.</li>
<li>Existing shareholders of WME, including AMTD Digital Inc. and AMTD IDEA Group, are expected to retain their interests in WME, and AMTD Digital Inc., AMTD IDEA Group and AMTD Group Inc. have committed to a 3-year lock-up of their interests without disposal, underlining their continued confidence in WME&#39;s strategy and outlook.</li>
<li>Non-redeeming public shareholders of BSII will be eligible to receive US$1.25 per share from the combined company in a post-transaction payment.</li>
</ul>
World Media and Entertainment Universal Inc. (&quot;WME&quot; or the &quot;Company&quot;), a global media and entertainment company, and Black Spade Acquisition II Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BSII#NASDAQ">BSII</a>, &quot;BSII&quot;))) announced today that they have entered into a business combination agreement. Upon the completion of the transactions contemplated by the business combination agreement, the combined company will retain its name &quot;World Media and Entertainment Universal Inc.&quot; and its headquarters in Paris, and its ordinary shares will be listed on a U.S. stock exchange.
The business combination values WME at an equity value of approximately US$488 million, not including cash from BSII&#39;s approximately US$153 million of cash in trust (assuming no BSII shareholders elect to have their BSII shares redeemed for cash as permitted).
The transaction is expected to close in mid-2025, subject to regulatory and shareholder approvals, and other customary closing conditions. After the transaction, assuming no BSII shareholders elect to have their BSII shares redeemed for cash as permitted, existing shareholders of WME will hold over 70% of the combined company.

BSII

World Media And Entertainment Universal To Go Public Through Business Combination With Black Spade Acquisition II Co; The Business Combination Values WME At An Equity Value Of ~$488M

AMTD Group Inc. ("AMTD Group"), the controlling shareholder of AMTD IDEA Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMTD#NYSE">AMTD</a>, SGX: HKB)))) ("AMTD IDEA") and AMTD Digital Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HKD#NYSE">HKD</a>) ("AMTD Digital") today announced the introduction and adoption of an innovative system through which the CEOs of all of its operating companies and key subsidiaries, including AMTD IDEA and AMTD Digital, will be appointed by the Executive Management Committee ("EMC") of the applicable entities on a rotational basis. This philosophy of shared leadership is reflected in the new feature which forms the core foundation of the rotating CEO mechanism. Under the new rotation program, no single individual would be appointed as the sole leader of an entity for an extended period, and a campaign of "everyone can be a hero" will be rolled out across the group to encourage and promote the next leaders of the companies. Through this rotation program, AMTD Group will maximize the values from the collective wisdom and stepped-up efforts to groom and nurture the next-level leaders.
By rotating the CEOs every six months, the group will be led by different personalities, which will create a much more diverse workplace where different common principles and perspectives will be consistently communicated and implemented. Due to the shared decision-making process and the grooming process to cultivate the next-level leadership, the long-term and sustainable interest of AMTD will be best served. Shared Values as the core mission of AMTD and key shareholders' beliefs and practices will be implemented through the new structure and organization leadership.
Dr. Feridun Hamdullahpur, the independent chairman of AMTD IDEA commented "The entire AMTD organization is built upon innovative thinking. We don't just talk about it; we practise it all the time. We have evolved and matured by understanding the changing world a bit better and defying the status quo. The rotating CEO program is born out of such thinking, and I believe will bring renewed energy and inspiration for the long-term sustainability and growth of the group. We would not be where we are without their great work, dedication, and commitment. We will continue counting on the new leadership program to move us steadily forward and grow our impact gradually and concretely over time."

Management

AMTD Group Inc. Announces The Adoption Of A Completely Independent And Non-Executive Board Structure And An Innovative CEO Rotation System Across The Group

Buybacks

AMTD IDEA Group Announces $20M Share Repurchase Program

For the six months ended October 31, 2023, the Company is expecting a contribution of US$16 million from its entertainment and movie businesses. The most recent worldwide release of the "Goldfinger" movie achieved outstanding results from global box office of USD 72.3 million in less than a month (in cinema for 28 days so far as of today). Other strong key performance indicators as of today: total movie viewers of 11.92 million; 3.94 billion of tiktok video plays relating to the movie; No. 1 ranking in the 2024 China crime and thriller movie category in terms of box office etc. The theatre time of the "Goldfinger" movie in China has been extended until 23:59pm on February 29, 2024 due to popularity.

Guidance

AMTD Digital Expects On Six Months Ended Oct. 31, 2023 $16M From Entertainment And Movie Business

AMTD's Film, "The Goldfinger," Will Be Released Globally Tomorrow

AMTD IDEA Group (("AMTD IDEA" or the "Company", NYSE:<a href="https://www.benzinga.com/stock/AMTD#NYSE">AMTD</a>, SGX: HKB)), a NYSE and SGX-ST dual listed company and a controlling shareholder of AMTD Digital, today announced its unaudited financial results for the six months ended June 30, 2023. Coinciding with the announcement, AMTD IDEA also announced the migration of its headquarters and principal executive office to Paris, France.
AMTD Group is a conglomerate focusing on the "IDEA" strategy to develop and operate its four pillars of core businesses, namely "I": international business connectors with financial services as the back bones, "D": digital media, entertainment and cultural connectors, "E": private education and professional training, and "A": premium assets and hospitality.
AMTD IDEA, a subsidiary of AMTD Group, includes the "I", "D" and "A"pillars of businesses in a listed holding platform to fuse synergies, create value and empower ecosystem of resources and network to develop and enable ongoing opportunities and sustainable developments.
Highlights of 2023 Half Year Financial Results
<ul>
<li>During the six months ended June 30, 2023, despite the global economic slowdown and rising geopolitical uncertainties, leading to volatile world markets overall, the Company demonstrated strong resilience and achieved solid financial performance. Our total revenue for the six months ended June 30, 2023 increased by 8.6% as compared to the same period in the previous year, from US$117.8 million to US$128.0 million.</li>
<li>The revenue generated from digital media, entertainment and cultural connector services surged to US$23.5 million, which represented 2.9 times the comparative figure year on year, as a result of the successful operations and expansions of L'Officiel since the Company's acquisition in the first half of 2022. This reaffirms the strategic decision of the management to diversify our income sources since last year by identifying various merger and acquisition opportunities.</li>
<li>The finance costs for the six months ended June 30, 2023 increased by 1,024.5% as compared to the same period in prior year, reaching US$3.6 million. The increase was mainly attributable to the global interest rate hike and the rise in the average balance of bank borrowings, which were successfully secured during the pandemic times to optimise the Company's earning capabilities and support the continuous growth of the Company.</li>
<li>The profit for the six months ended June 30, 2023 has maintained a steady growth of 3.3% as compared to the same period in the prior year, increasing from US$102.3 million to US$105.7 million.</li>
<li>The net assets as of June 30, 2023 increased by 47.4% to US$1.5 billion when compared with December 31, 2022, following the successful completion of the acquisition of AMTD Assets Group ("AMTD Assets"), who holds a global portfolio of premium real estate assets during the period. After the acquisition, the hotel operations, hospitality and VIP services income of US$4.3 million, reflective of only partial year of contributions, was recorded during the period.</li>
</ul>
Recent Developments during the Six Months Ended June 30, 2023, together with Events subsequent to June 30, 2023
<ul>
<li>In January 2023, the Company acquired AMTD Assets, a subsidiary of AMTD Group, with a total consideration of approximately US$268 million, by issuing 30,875,576 Class B treasury shares, priced at US$8.68 per share. The transaction was completed on February 6, 2023 and AMTD Assets became a subsidiary of the Company. AMTD Assets holds a global portfolio of premium properties.</li>
<li>In March 2023, the Company's subsidiaries, L'Officiel Singapore Pte. Ltd. and L'Officiel Malaysia Sdn. Bhd., have been granted the publication permits in Singapore and Malaysia by the Singapore Registrar of Newspapers and Ministry of Home Affairs, to publish magazines under the direct owner's model. In October 2023, L'Officiel Hong Kong successfully registered with the HKSAR Government's Office for Film, Newspaper and Article Administration. We reinforce our direct position in Asia, while continuing to foster our relationships with franchisees for the rest of the world, promoting greater values for the overall ecosystem under our one world's global approach and service quality's consistency.</li>
<li>In April 2023, the Company secured US$93.6 million of new share subscription of 90,000,000 newly issued Class A ordinary share at 21.1% premium above the prevailing traded price, further solidifying the Company's financial and capital strengths.</li>
<li>In August 2023, the Company, AMTD Group and its subsidiary AMTD Digital Inc. officially established AMTD World Media and Entertainment Group ("AMTD WME"). AMTD WME will embark and focus on global strategies and developments of a multi-media, entertainment and cultures worldwide platform.</li>
<li>Subsequent to June 30, 2023, the Company entered into a definitive agreement with an independent third party to dispose certain real estate assets. The consideration for the disposal was determined with reference to the assets' latest valuation, with potential adjustments based on the final valuation performed by the independent valuer. The disposal was carried out with an aim to reallocate the proceeds into other premium assets at more preferred locations or more favourable pricing.</li>
<li>Subsequent to June 30, 2023, the Company reached an agreement with the counterparty of certain derivative financial assets held by the Company to conclude and settle.</li>
<li>Subsequent to June 30, 2023, the Company entered into a termsheet with an independent third party. Pursuant to the termsheet, there is a restructuring exercise for certain subsidiaries of L'Officiel Inc. SAS to take advantage of certain opportunities, including disposal of non-core components, in view of reverse inquiries from market.</li>
</ul>
Statement from the Board Members and Senior Management:
Dr. Feridun Hamdullahpur, Chairman of the board and audit committee, "Long term vision and planning, resiliency, innovative thinking, and solid leadership were altogether behind the remarkably exciting financial performance. The current volatile market conditions coupled with the on-going global geopolitical uncertainties have created a challenging environment for the entire investment world. Despite these unfavourable winds, the AMTD IDEA Group has achieved an overall 8.6% increase in revenues compared the same period last year. I am delighted with these results and, on behalf of the Board of Directors convey my heartfelt thanks to the entire leadership team. I look forward to seeing even stronger results for the next half of the year."
Mr. William Fung, CEO of the Company, "Maintaining growth sustainability and achieving business diversification have been the key strategic objectives of the management team as we continued to navigate through global political uncertainties and economic challenges in the first half of 2023. We were able to achieve an encouraging 8.6% y/y increase in total revenue, expand in identified growth areas and strengthen the Group's liquidity and asset base via share placements and banking facilities, and acquisition of premium global properties, whereby net assets increased by 47.4% to US$1.5 billion. On behalf of the management team, I would like to thank the board of directors for their continued support and guidance, as well as our shareholders and business partners for their trust and partnership. We remain confident and committed towards the financial and strategic goals of the Group."
Mr. Xavier Zee, CFO of the Company, "I am glad to see that the Group stayed resilient and delivered solid results despite the global economic slowdown. Successful acquisitions of businesses of hotel operations, media and entertainment bring in more stable income streams to the Group. More synergies would be anticipated from these businesses through collaborating with our ecosystem partners."
Financial Results for the Six Months Ended June 30, 2023
Revenue
Our revenue for the six months ended June 30, 2023 amounted to US$128.0 million, increasing from US$117.8 million recorded for the six months ended June 30, 2022. The 8.6% increase compared to prior year was primarily attributable to (i) the net increase in dividends, fair value changes and disposal gains of our investment portfolio, and (ii) diversification of our revenue sources which results from the acquisition of L'Officiel and AMTD Assets.
<ul>
<li>Digital solutions and other services income was US$16.2 million for six months ended June 30, 2023, 126.9% higher than the same period of 2022. The increase was primarily driven by the introduction of new clients in the second half of 2022 and the expansion of digital marketing services.</li>
<li>Fashion and luxury media advertising and marketing services income was US$7.2 million, representing 7.4 times the comparative figure in the same period of last year. The increase was mainly attributable to the successful operations and expansions of L'Officiel into Asia.</li>
<li>Hotel operations, hospitality and VIP services income was US$4.3 million and becomes a new revenue driver after the successful acquisition of AMTD Assets, the real estate arm of AMTD Group, focusing and specialising in hospitality and lifestyle concepts globally during the period.</li>
<li>Dividends and disposal gains of investments was US$93.5million, representing 14.6 times the comparative figure in the same period of last year. It was in turn attributable to the increase of the gain from the successful divestment of certain investments in our portfolio and an increase in dividend income.</li>
</ul>
Other Income And Gains
Other income and gains increased by 54.0% as compared to the same period in prior year to US$11.3 million, primarily due to (i) increase in bank interest income as the Company had generated additional interest income from deposits with banks, and (ii) increase in the net average outstanding balance due from our immediate holding company, which was interest bearing.
Other Operating Expenses
Other operating expenses for the six months ended June 30, 2023 increased by 60.4% as compared to the same period in prior year to US$12.4 million, primarily attributable to (i) an addition of hotel operation expenses in AMTD Assets of US$2.8 million, and (ii) full period effect for the increase in operation expenses of L'Officiel of US$1.2 million.
Staff Costs
Staff costs for the six months ended June 30, 2023 increased by 36.9% as compared to the same period in prior year to US$10.3 million. This was due to the incremental costs in connection to the post-acquisition operations of AMTD Digital Inc., L'Officiel and AMTD Assets.
Finance Costs
Finance costs for the six months ended June 30, 2023 increased by 1,024.5% as compared to the same period in prior year to US$3.6 million, primarily due to the increase in the market interest rate and outstanding bank borrowings during the period.
Income Tax Expense
Income tax expense for the six months ended June 30, 2023 decreased by 18.9% as compared to the same period in prior year to US$7.2 million, primarily due to a decrease in tax assessable income.
Profit For The Period
Profit for the six months ended June 30, 2023 slightly increased by 3.3% as compared to the same period in the prior year to US$105.7 million.
Accounts Receivable
Accounts receivable increased by 9.6% from US$24.1 million as of December 31, 2022 to US$26.4 million as of June 30, 2023, primarily due to increase in dividend receivable and receivables from hotel and hospitality services of US$1.7 million.
Financial Assets At Fair Value Through Profit or Loss, Including Derivative Financial Assets
Financial assets at fair value through profit or loss decreased by 4.9% from US$380.4 million as of December 31, 2022 to US$361.7 million as of June 30, 2023, primarily due to decrease in fair value of the financial assets and net disposal of investments during the period.
Accounts Payable
Accounts payable decreased by 9.6% from US$10.6 million as of December 31, 2022 to US$9.5 million as of June 30, 2023, largely attributable to a decrease of US$1.2 million in payables to suppliers of fashion and luxury media advertising and marketing services, which was in turn resulting from the optimization of our payment cycle during the period.
Bank Borrowings
Total bank borrowings were US$ 96.4 million as of June 30, 2023, representing 4.7 times of the comparative figure. The increase was mainly attributable to the increase in bank borrowings, which were successfully secured during the pandemic times and through the acquisition of AMTD Assets.
Net Assets
The net assets increased by 47.4% from US$1.0 billion as of December 31, 2022 to US$1.5 billion as of June 30, 2023, reflecting
(i) the successful completion of acquisition of AMTD Assets, of which certain line items, including property, plant and equipment (hotel properties within the property portfolio), interest in joint ventures (the Company's stake in a hotel venture project), and amount due from / to non-controlling shareholders (the outstanding balances with our business partners), recorded a significant change when compared with December 31, 2022, and
(ii) the contribution of our results and comprehensive income from our operations.
There were other fluctuations in various financial line items, and it was due to the reclassification of certain assets and liabilities (e.g. goodwill) associated with assets classified as held for sale as a result of Company's plan to streamline certain operations.

Earnings

AMTD IDEA Recorded Solid Performance With 47.4% Increase In Net Assets To $1.5B; A 8.6% Increase In Total Revenue To $128M

AMTD IDEA Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMTD#NYSE">AMTD</a>, SGX: HKB)))) ("AMTD IDEA" or the "Company") today announced a positive profit estimate for the six months ended June 30, 2023:
During the six months ended June 30, 2023, despite the global economic slowdown and rising geopolitical uncertainties, leading to volatile world markets overall, the Company demonstrated strong resilience and achieved solid financial performance. Total revenue for the six months ended June 30, 2023 is estimated to increase by more than 6% year over year to over US$125 million. In particular, revenue generated from digital media, entertainment and other solution services is estimated to achieve at least 2.5 times to more than US$23million, as a result of the successful operations of L'Officiel Inc. SAS since the Company's acquisition in the first half of 2022. Profit of the Company for the six months ended June 30, 2023 is estimated to be more than US$105 million.
This profit estimate is preliminary in nature, and is based on information currently available to the management of the Company. The estimate is subject to uncertainties, and maybe changed as we adjust and finalize our financial results for the relevant period. Accordingly, investors are advised not to place undue reliance on this information and should instead refer to our unaudited financial results of the relevant period to be subsequently published by the Company.

AMTD IDEA Achieved 2.5 Times Digital Media & Entertainment Revenue In The First Half Of 2023

AMTD IDEA Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMTD#NYSE">AMTD</a>, SGX: HKB)))) ("AMTD IDEA" or the "Company"), today announced that it will change the ratio of its American depositary shares ("ADSs") to its Class A ordinary shares (the "ADS Ratio Change"), par value US$0.0001 per share, from one (1) ADS representing two (2) Class A ordinary shares to one (1) ADS representing six (6) Class A ordinary shares, effective on or about November 17, 2023, U.S. Eastern Time (the "Effective Date").
For the Company's ADS holders, the ADS Ratio Change will have the same effect as a one-for-three reverse ADS split. On the Effective Date, ADS holders will be required to surrender and exchange every three (3) ADSs then held for one (1) new ADS. The Bank of New York Mellon, as the depositary bank for the Company's ADS program, will arrange for the exchange. The Company's ADSs will continue to be traded on the New York Stock Exchange under the ticker symbol "AMTD".
No fractional new ADSs will be issued in connection with the ADS Ratio Change. Instead, fractional entitlements to new ADSs will be aggregated and sold by the depositary bank and the net cash proceeds from the sale of the fractional ADS entitlements (after deduction of fees, taxes, and expenses, where applicable) will be distributed to the applicable ADS holders by the depositary bank. The ADS Ratio Change will have no impact on the Company's underlying Class A ordinary shares, and no ordinary shares will be issued or cancelled in connection with the ADS Ratio Change.

Stock Split

AMTD IDEA Group Announces ADS Ratio Change From 1 ADS Representing 2 Ordinary Shares To 1 ADS Representing 6 Ordinary Shares (1-For-3)

The most oversold stocks in the financial sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#39;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#39;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi"> RSI is below 30.</a>
Here&rsquo;s the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3>AMTD IDEA Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amtd#NYSE">AMTD</a>)</h3>
<ul>
<li>AMTD IDEA extended its share repurchase program until the end of the last business day of the first quarter in 2024. The company&rsquo;s stock has a <a href="https://www.benzinga.com/quote/AMTD">52-week low of $0.7050 </a>.</li>
<li>RSI Value: 22.18</li>
<li>AMTD Price Action: Shares of AMTD IDEA fell 2.3% to close at $0.7609 on Wednesday.</li>
</ul>
<h3>Great Ajax Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ajx#NYSE">AJX</a>)</h3>
<ul>
<li>Great Ajax is expected to release its financial results for the third quarter after the closing bell on Nov. 2, 2023. It <a href="https://www.benzinga.com/quote/AJX"> has a 52-week low </a> of $4.08.</li>
<li>RSI Value: 22.24</li>
<li>AJX Price Action: Shares of Great Ajax fell 2.1% to close at $4.23 on Wednesday.</li>
</ul>
<h3>Beneficient (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/benf#NASDAQ">BENF</a>)</h3>
<ul>
<li>Beneficient closed on a $25 million term loan financing. The company&rsquo;s stock has a 52-week <a href="https://www.benzinga.com/quote/BENF"> low of $0.58.</a></li>
<li>RSI Value: 19.67</li>
<li>BENF Price Action: Shares of Beneficient fell 1.5% to close at $0.60 on Wednesday.</li>
</ul>
<h3>BOK Financial Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bokf#NASDAQ">BOKF</a>)</h3>
<ul>
<li>BOK Financial posted downbeat earnings for the third quarter. Stacy Kymes, president and chief executive officer, stated, &quot;We recognized another solid quarter of earnings driven by our diverse business model, which prudently balances interest revenue with non-interest revenues and allows us to perform well in a multitude of business climates.&quot; The company&rsquo;s 52-week low is $62.42.</li>
<li>RSI Value: 27.84</li>
<li>BOKF Price Action: Shares of BOK Financial rose 0.5% to close at $65.84 on Wednesday.</li>
</ul>
<h3>Siebert Financial Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sieb#NASDAQ">SIEB</a>)</h3>
<ul>
<li>Siebert Finl reported an increase in sales for the second quarter. John J. Gebbia, CEO of Siebert said, &ldquo;Our second quarter results demonstrate the diversity of our business model and how we&rsquo;re able to successfully navigate market conditions to execute on our growth strategy.&rdquo; The company <a href="https://www.benzinga.com/quote/SIEB"> has a 52-week low </a> of $1.20.</li>
<li>RSI Value: 27.19</li>
<li>SIEB Price Action: Shares of Siebert Financial rose 0.3% to close at $1.5150 on Wednesday.</li>
</ul>
&nbsp;
Read More: <a href="https://www.benzinga.com/news/earnings/23/11/35555667/fear-continues-to-grip-markets-after-feds-rate-decision"> Fear Continues To Grip Markets After Fed&#39;s Rate Decision </a>

AMTD IDEA Group ((", AMTD IDEA", or ", Company", , NYSE:<a href="https://www.benzinga.com/stock/AMTD#NYSE">AMTD</a>, SGX: HKB)), announced yesterday that the Company's board of directors has authorized an extension of the existing share repurchase authority under the share repurchase program (the "Program") previously announced on August 22, 2023 and updated on September 22, 2023, to cover a longer period until the end of the last business day of the first quarter in 2024, U.S. Eastern Time.
Out of the Program, the board of directors further approved to set forth and earmark 70% of the Program's total approved amount for the months of October and November, 2023.

AMTD IDEA Earmarks 70% Of The Share Repurchase Program's Total Approved Amount In October And November, 2023

AMTD IDEA Group (("AMTD IDEA" or "Company", NYSE:<a href="https://www.benzinga.com/stock/AMTD#NYSE">AMTD</a>, SGX: HKB)) announced today that the Company's board of directors have authorized an extension of the existing share repurchase authority under the share repurchase program previously announced on August 22, 2023 and updated on September 22, 2023, until the end of the last business day of the first quarter in 2024, U.S. Eastern Time.

AMTD IDEA Extends Share Repurchase Program Till Last Day Of Q1 In 2024

AMTD Idea Group Undertakings Stating AMTD Group And Executive Officers Of AMTD IDEA And AMTD Digital Will Not Sell Any Equity Securities; Chairman Of AMTD Group Confirms He Will Not Sell Any Of His Holdings In Open Market For 5 Years

AMTD IDEA Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMTD#NYSE">AMTD</a>, SGX: HKB)))) ("AMTD IDEA"), and AMTD Digital Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HKD#NYSE">HKD</a>) ("AMTD Digital"), announced today that both of organizations have received undertakings from the relevant parties that AMTD Group (the "Group"), and the executive officers of AMTD IDEA and AMTD Digital will not sell any equity securities they own in AMTD IDEA and AMTD Digital in the open market for three years effective immediately, or until October 23, 2026.
In particular, Dr. Calvin Choi (together with his holding company Infinity Power Investments Limited), has confirmed that he will not sell any of his holdings in the open market for five years effective immediately, i.e. October 23, 2028.
Dr. Feridun Hamdullahpur, Chairman of AMTD IDEA, and Chairman of Executive Management Committee of the Group, mentioned, "The Group, including its listed subsidiaries AMTD IDEA and AMTD Digital, is on the path of our multi-businesses build-out and entrepreneurship journey under the Group's ‘IDEA' strategy in strong and resilient ways amidst the world's overall economic challenges and geopolitical uncertainties. The Group has well developed into a conglomerate to include a comprehensive financial services platform, a digital media, culture and entertainment platform, a hospitality and premium services platform, and a focus into talent cultivation and premium education platform. The boards of directors of the Group and both of the listed companies, together with Dr. Calvin Choi and all executive officers of the two listed companies have full confidence in the Group's core values and we are all committed to contributing and supporting the long-term sustainability of the Group, including the continued growth and global expansion of the two listed companies without hesitation."
Dr. Timothy Tong, Chairman of AMTD Digital, and CEO of AMTD Charity Foundation, stated, "The declaration of a long-term core holding of equity securities in AMTD IDEA and AMTD Digital by the relevant parties, particularly including Dr. Calvin Choi and all executive officers, represents a loud and clear message about our confidence in the overall strengths and the long-term values of the Group and its subsidiaries. We will stay committed and focused on delivering long-term values to our shareholders."

Long-Term Commitment To Sustainable Development And Continued Build-Out Of AMTD IDEA And AMTD Digital

AMTD Group Inc. ("AMTD Group"), AMTD IDEA Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMTD#NYSE">AMTD</a>, SGX: HKB)))) ("AMTD IDEA") and AMTD Digital Inc. ("AMTD Digital") (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HKD#NYSE">HKD</a>), jointly through AMTD World Media and Entertainment Group ("AMTD WME"), together with L'Officiel Inc. SAS, one of the oldest fashion media of the world, of French origin with more than 100-years history, announce a long term strategic alliance with ENVISEAM, a trailblazer in the realms of fine art, entertainment, and contemporary pop culture, with key partners including Jay Chou, the "King of Mandopop".
This press release features multimedia. View the full release here: <a href="https://www.businesswire.com/news/home/20230925706944/en/">https://www.businesswire.com/news/home/20230925706944/en/</a>
Such a strategic alliance kicked off with the global release of electrifying covers featuring Jay Chou. As a result of this alliance, ENVISEAM has successfully anchored its Pre-Series A funding round, with L'OFFICIEL leading the way. This partnership signifies the start of an exciting journey where L'OFFICIEL, ENVISEAM, and key partners like Jay Chou will combine and synergize all parties' global networks and outreach to deliver world-class contents with L'OFFICIEL's ambition, led by Chairman Dr. Calvin Choi to establish a one stop world-connected multimedia platform to include print and digital channels, coupled with events and experiences, together with diverse content ranging from art, culture, fashion, entertainment to music. ENVISEAM, led by CEO Jazz Li, aims to reshape economic paradigms with culture and deep intellectual property ("deep IP"), in long term partnership with L'OFFICIEL globally. This marks a pivotal moment in redefining global creativity and disrupting the landscape of traditional media and content.
Dr. Calvin Choi, Chairman of AMTD Group Inc. and L'Officiel Inc. SAS, expressed his enthusiasm for this collaboration, stating, "At AMTD, with the announced acquisitions of L'Officiel and The Art Newspaper, we tell the world loudly about our ambition to build a world-connected multimedia one stop platform for art, culture, fashion, entertainment, and music contents, together with our network of business partners and clients. The strategic alliance between L'Officiel and ENVISEAM is a part of such global build-out."
Founded in 2019, ENVISEAM has achieved remarkable milestones in its relatively short history. It has pioneered the creation of original fine-art intellectual property and crafted unique experiential events, both in individual capacities and in partnership with elements from the fine art and entertainment world. ENVISEAM's "Art Colure With Artistes" series of exhibitions, with L'Officiel Art as a strategic partner, has swiftly left an indelible mark on the fine art industry, while its unparalleled expertise and expansive network within the domains of fine art and entertainment have garnered the attention of influential thought leaders, governments, and media entities, collaboratively and collectively seeking to advance their cultural identities and narratives.
Mr. Jazz Li, Founder &amp; CEO of ENVISEAM, envisions a future where culture and profound intellectual property (which he terms "deep IP") will drive economic paradigms. ENVISEAM aspires to be at the epicenter of this transformative shift in lifestyles by transcending the boundaries of fine art and entertainment, and partnering long term with AMTD and L'Officiel.

L'Officiel Announces A Long-Term Strategic Alliance With ENVISEAM

AMTD IDEA Group (("AMTD IDEA" or "Company", NYSE:<a href="https://www.benzinga.com/stock/AMTD#NYSE">AMTD</a>, SGX: HKB)) announced today that the Company's board of directors have authorized an increase to the existing share repurchase authority under the share repurchase program previously announced on August 22, 2023 in the amount of US$20 million. As a result, the Company may repurchase up to US$40 million of its American depositary shares or ordinary shares under the said program until the close of business on December 29, 2023, U.S. Eastern Time.

AMTD IDEA Group Increases Share Repurchase Program By $20M

The most oversold stocks in the financial sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#39;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#39;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi"> RSI is below 30.</a>
Here&rsquo;s the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3>Finance Of America Companies Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/foa#NYSE">FOA</a>)</h3>
<ul>
<li>Finance of America posted a loss for the second quarter. Graham A. Fleming, Chief Executive Officer commented, &quot;Finance of America delivered on each strategic initiative we set out to accomplish as we pursue our goal to help even more Americans embrace a modern retirement and understand the value and benefits of home equity.&quot; The company&rsquo;s stock has a <a href="https://www.benzinga.com/quote/FOA">52-week low of $1.19 </a>.</li>
<li>RSI Value: 28.23</li>
<li>FOA Price Action: Shares of Finance Of America Companies rose 0.7% to close at $1.43 on Friday.</li>
</ul>
<h3>AMTD IDEA Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amtd#NYSE">AMTD</a>)</h3>
<ul>
<li>AMTD Idea Group announced a step up of $100 million into AMTD Digital Inc. with a lock up of 5 years. It <a href="https://www.benzinga.com/quote/AMTD"> has a 52-week low </a> of $1.20.</li>
<li>RSI Value: 25.74</li>
<li>AMTD Price Action: Shares of AMTD IDEA rose 0.8% to close at $1.23 on Friday.</li>
</ul>
<h3>Green Dot Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gdot#NYSE">GDOT</a>)</h3>
<ul>
<li>Green Dot posted better-than-expected quarterly results. &quot;I am pleased with the quarter&rsquo;s results and the progress we&#39;re making against our 2023 operating goals, including launching a new major BaaS partner and adding a new partner to our financial services channel,&quot; said George Gresham, Chief Executive Officer of Green Dot. The company&rsquo;s stock has a 52-week <a href="https://www.benzinga.com/quote/GDOT"> low of $14.76.</a></li>
<li>RSI Value: 27.91</li>
<li>GDOT Price Action: Shares of Green Dot gained 1.6% to close at $15.08 on Friday.</li>
</ul>
<h3>Marpai, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrai#NASDAQ">MRAI</a>)</h3>
<ul>
<li>Marpai posted upbeat quarterly results. &quot;I am happy to report that we are starting to see the sequential quarterly improvement in our operating results that I told you about when we reported our first quarter results. &quot; said Edmundo Gonzalez, Chief Executive Officer of Marpai. The company&rsquo;s 52-week low is $0.85.</li>
<li>RSI Value: 24.47</li>
<li>MRAI Price Action: Shares of Marpai gained 2.3% to close at $0.90 on Friday.</li>
</ul>
<h3>AGBA Group Holding Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/agba#NASDAQ">AGBA</a>)</h3>
<ul>
<li>AGBA Group issued an update on financial projections showing acceleration to profitability within months. The company <a href="https://www.benzinga.com/quote/AGBA"> has a 52-week low </a> of $0.57.</li>
<li>RSI Value: 28.52</li>
<li>AGBA Price Action: Shares of AGBA Group Holding rose 6.2% to close at $0.6690 on Friday.</li>
</ul>
&nbsp;
Read More: <a href="https://www.benzinga.com/news/earnings/23/09/34219470/asana-likely-to-post-narrower-q2-loss-heres-a-look-at-recent-price-target-changes-by-the-most-accur"> Asana Likely To Post Narrower Q2 Loss; Here&#39;s A Look At Recent Price Target Changes By The Most Accurate Analysts </a>

Top 5 Financial Stocks You'll Regret Missing This Quarter

AMTD Digital Inc. ((&quot;AMTD Digital&quot;, NYSE:<a href="https://www.benzinga.com/stock/HKD#NYSE">HKD</a>) AMTD IDEA Group ((&quot;AMTD IDEA&quot;, NYSE:<a href="https://www.benzinga.com/stock/AMTD#NYSE">AMTD</a>, SGX: HKB)) jointly announced today that the boards of directors of the two companies have approved the issuance and sale of Class B ordinary shares by AMTD Digital to AMTD IDEA for a total consideration of not more than US$100 million (US$520 per share). As a further demonstration of AMTD IDEA&#39;s long-term commitment in the development of AMTD Digital, AMTD IDEA voluntarily commits to a 5-years lock up period on such shares acquired through this subscription.
Dr. Timothy Tong, chairman of the board of directors of AMTD Digital, commented: &quot;The share subscription by AMTD IDEA demonstrates our parent company&#39;s strong confidence in our long-term and sustainable development. The management is motivated to pursue greater success through continuous innovation in the digital world.&quot;
Dr. Feridun Hamdullahpur, chairman of the board of directors of AMTD IDEA, commented: &quot;We are fully confident in and committed to our long-term strategic core holding in AMTD Digital, seeing enormous potentials in its media, culture and entertainment businesses as well as its diversified shareholding base with global connectivity leveraging on the NYSE platform.&quot;

AMTD Idea Group Announced A Step Up Of ~$100M Into AMTD Digital Inc. With A Lock Up Of 5 Years

Press Releases

AMTD's "The Last Dance" Movie Moves Earlier the Release Date Due to Supreme Positive Reviews from Film Festivals and Industry

AMTD Proudly Presents Its Another New Movie "A Cover-up"

AMTD's Movie "The Last Dance" Hong Kong and Macau Box Office Exceeded HK$65M and Broke Multiple Records

AMTD's Movie "The Last Dance" Marks New History for HK Movie Industry

World Media and Entertainment Universal to Go Public Through Business Combination With Black Spade Acquisition II Co

World Media and Entertainment Universal, Subsidiary of AMTD IDEA Group and AMTD Digital Inc., to Go Public Through Business Combination With Black Spade Acquisition II Co

WME's Partnership with Alibaba on Films, Entertainment, and Contents

WME to Embark on Exponential Growth Through Expansion of L'Officiel by Direct Ownership Model

AMTD's Successful Action Against IP Infringement

AMTD's Strategic Investment - Bank of Qingdao Enjoyed Solid 2024 Financial Performance

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