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Essilorluxottica (OTC:ESLOF) Stock, Option Chain

EssilorLuxottica is a combination of the leading manufacturer of premium frames and sunglasses and the leading manufacturer of optical lenses. Both companies are significantly larger than the next biggest player in their respective fields and command over 15% of the fragmented global eyewear market. The company has a broad geographical presence, with around 36% of sales in Europe, 47% in North America, and the rest in Asia and Latin America.

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Meta Platforms, Inc&#39;s Quest Pro is discontinued due to low sales. Quest Touch Pro Controllers still available. Reality Labs reports $4.4B loss.

Meta Discontinues $999 Quest Pro, Shifts Focus to Affordable Quest 3

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Meta plans to add displays to its Ray-Ban smart glasses by 2025. The company aims to replace smartphones with lightweight headsets.

Meta Plans Display-Equipped Ray-Ban Glasses By 2025: FT

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EssilorLuxottica extends partnership with Meta to develop smart eyewear, already in high demand across multiple markets. CEO cites important milestone in industry transformation.

EssilorLuxottica And Meta Platforms Double Down On Smart Eyewear: Details

Essilorluxottica

Meta Platforms, Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) $999 <a target="_blank" href="https://www.benzinga.com/topic/arvr" rel="noreferrer noopener">Quest Pro</a> is no longer available <a target="_blank" href="https://www.meta.com/quest/quest-pro/" rel="noreferrer noopener">for sale</a>, as it redirects customers to the Meta Quest 3, available for $499.99.
The decision was made over two months after the company dumped the premium virtual reality headset because it failed to gain traction, Verge <a target="_blank" href="https://www.theverge.com/2025/1/6/24337157/meta-stops-selling-quest-pro-vr-headset-low-sales-discontinued" rel="noreferrer noopener">cites</a> UploadVR.
Meta shared plans to keep selling the headset until 2024 or until it ran out of stock, whichever came first, triggering speculation of lackluster demand.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/01/42822512/goldman-sachs-backs-chinese-equities-as-markets-react-to-economic-slowdown-and-tariff-concerns" rel="noreferrer noopener">Goldman Sachs Backs Chinese Equities as Markets React to Economic Slowdown and Tariff Concerns</a>
Meta Quest Touch Pro Controllers, compatible with Quest 2 and 3, are still available <a target="_blank" href="https://www.meta.com/quest/accessories/quest-touch-pro-controllers-and-charging-dock/" rel="noreferrer noopener">for consumers</a>. Earlier in 2024, Meta reduced the price of its Meta Quest 2 VR headset to $199, half <a target="_blank" href="https://www.benzinga.com/general/gaming/24/04/38342816/meta-quest-2-price-permanently-cut-in-half-concerns-linger-about-long-term-support" rel="noreferrer noopener">of the original</a>.
Meta&#8217;s&nbsp;augmented and VR division,&nbsp;Reality Labs, reported a <a target="_blank" href="https://www.benzinga.com/news/24/11/41691734/metas-reality-labs-faces-4-4-billion-loss-in-arvr-sector" rel="noreferrer noopener">third-quarter earnings</a> loss of $4.4 billion, marking the third consecutive quarterly loss for the&nbsp;segment in 2024. Previous quarters in 2024 had losses of $3.8 billion and $4.5 billion.
In related AR/VR headset news, prior reports indicated Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) <a target="_blank" href="https://www.benzinga.com/general/gaming/24/10/41499682/apple-to-cut-vision-pro-production-cheaper-model-expected-in-2025-report" rel="noreferrer noopener">was slashing production</a> of its $3,500 Vision Pro headset and shifting focus toward a more affordable model for 2025 to penetrate a broader audience.
Meta reportedly plans to integrate displays into Ray-Ban smart glasses by 2025. The $300 sunglasses project, <a target="_blank" href="https://www.benzinga.com/24/12/42659936/meta-plans-display-equipped-ray-ban-glasses-by-2025-aiming-to-replace-smartphones" rel="noreferrer noopener">in partnership with</a> EssilorLuxottica (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ESLOF#OTC">ESLOF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ESLOY#OTC">ESLOY</a>), could offer small screens to display notifications and responses from Meta&#8217;s virtual assistant.
Meta is also fast-tracking the development of its prototype AR glasses, Orion.
Meta&#8217;s smart glasses&nbsp;have become a fixture in 60% of Ray-Ban stores in&nbsp;Europe, the Middle East, and Africa, outperforming conventional Ray-Ban models.
Wall Street firms, including JMP Securities and Rosenblatt, expect Meta&#8217;s AI and VR initiatives to help it reach valuations like Apple&#8217;s.
Meta stock surged 76% in the last 12 months. Investors can gain exposure to the stock through&nbsp;iShares Core S&amp;P Total U.S. Stock Market ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITOT#NYSE">ITOT</a>) and SPDR Series Trust SPDR Portfolio S&amp;P 500 Growth ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPYG#NYSE">SPYG</a>).
Price Action:&nbsp;META stock closed higher by 4.23% at $630.20 on Monday.
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Meta Platforms, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), the parent company of Facebook, Instagram, and Threads, aims to advance wearable technology by integrating displays into its Ray-Ban smart glasses by 2025, the Financial Times reports.
The $300 sunglasses, developed with eyewear giant EssilorLuxottica (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ESLOF#OTC">ESLOF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ESLOY#OTC">ESLOY</a>), could feature small screens to display notifications and responses from Meta&#8217;s virtual assistant, the Financial Times <a target="_blank" href="https://www.ft.com/content/77bd9117-0a2d-4bd7-9248-4dd288f695a4" rel="noreferrer noopener">cites</a> familiar sources.
This development aims to position Meta as a frontrunner in augmented reality (AR) and wearable computing, which has the potential to replace smartphones as key computing devices.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/10/41377833/meta-cuts-jobs-in-whatsapp-instagram-and-reality-labs-in-latest-reorganization" rel="noreferrer noopener">Meta Cuts Jobs in WhatsApp, Instagram, and Reality Labs In Latest Reorganization</a>
According to the report, the next iteration of Ray-Ban Meta glasses, expected in late 2025, will introduce display technology, marking a step toward CEO Mark Zuckerberg&#8217;s vision of lightweight AR headsets.
The move aligns with Meta&#8217;s broader strategy to integrate advanced technologies into everyday wearables, <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40699921/snap-ceo-evan-spiegel-announces-focus-on-ad-business-and-ar-amid-still-competition-from-tiktok-a" rel="noreferrer noopener">competing with companies</a> like Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>).
Meta is also fast-tracking the development of its prototype AR glasses, Orion, after receiving positive feedback from early testers. The glasses feature advanced silicon carbide lenses for brighter and larger imagery.
Last week, Meta launched <a target="_blank" href="https://www.benzinga.com/24/12/42524192/metas-ray-ban-smart-glasses-can-now-be-your-chef-linguist-and-dj-whats-next-therapist" rel="noreferrer noopener">three new features</a> for its Ray-Ban smart glasses, including live AI, live translations, and&nbsp;Shazam.
Meta&#8217;s smart glasses&nbsp;have emerged as a blockbuster product in 60% of Ray-Ban stores in <a target="_blank" href="https://www.benzinga.com/news/24/10/41458752/metas-smart-glasses-dominate-ray-ban-stores-ai-features-still-missing" rel="noreferrer noopener">Europe, the Middle East, and Africa</a>. Despite lacking AI features in Europe, the glasses outperformed conventional Ray-Ban models.
In mid-December, Meta CTO Andrew Bosworth <a target="_blank" href="https://about.fb.com/news/2024/12/accelerating-the-future-ai-mixed-reality-and-the-metaverse/" rel="noreferrer noopener">flagged 2025 as</a> the most significant year in the history of the Reality Labs unit behind the company&#8217;s glasses and headsets.
According to reports, the current model features sensitive in-ear speakers, cameras, and microphones.
Wall Street firms, including JMP Securities, Wedbush, Oppenheimer, and Guggenheim, hailed Meta&#8217;s <a target="_blank" href="https://www.benzinga.com/news/24/09/41054106/meta-analysts-highlight-ai-vr-advances-see-growth-pushing-it-toward-apple-like-valuation" rel="noreferrer noopener">launch of a VR headset</a> and AI updates after the Connect event in September. They expect Meta&#8217;s AI and VR innovations to be pivotal in helping it reach valuations like Apple&#8217;s.
Meta stock surged 71% year-to-date. Investors can gain exposure to the stock through Vanguard Large-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VV#NYSE">VV</a>) and Vanguard Communication Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOX#NYSE">VOX</a>).
Price Action: META stock is up 2.28% at $598.53 at last check Monday.
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Photo via Shutterstock

EssilorLuxottica (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ESLOF#OTC">ESLOF</a>) extended its partnership with Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) through a new long-term deal to develop multi-generational <a target="_blank" href="https://www.essilorluxottica.com/en/newsroom/press-releases/essilorluxottica-and-meta-announce-long-term-partnership/" rel="noreferrer noopener">smart </a>eyewear. The financial terms were not disclosed.
Since 2019, their collaboration has produced two generations of Ray-Ban smart glasses, reshaping wearable tech for consumers.
By perfectly combining form and function, Ray-Ban Meta glasses leverage EssilorLuxottica&#8217;s industry expertise and global retail and wholesale network alongside Meta&#8217;s technological innovations.
The company said the glasses are in high demand across several markets, such as the US, Canada, the U.K., Australia, and several European countries.
Francesco Milleri, Chairman and CEO of EssilorLuxottica, said, &#8220;Over the past six decades, EssilorLuxottica has led the transformation and modernization of the eyewear and eyecare industry, positioning among the world&#8217;s leading innovators.&#8221;
&#8220;The incredible work we&#8217;ve done with Meta, still in its early stages, has already proven to be an important milestone in our journey to making glasses the gateway to the connected world.&#8221;&nbsp;
In July, EssilorLuxottica planned to acquire a Supreme brand from V.F. Corporation <a href="https://www.benzinga.com//node/39819517" target="_blank" rel="noreferrer noopener">for $1.5 billion in cash</a>.
Image via Shutterstock
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These eleven mid-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Virtu Financial, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIRT#NASDAQ">VIRT</a>) shares jumped 30.04% after reporting <a href="https://www.benzinga.com//node/39842408" target="_blank" rel="noreferrer noopener">better-than-expected Q2 financial results.</a></li>
<li>V.F. Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VFC#NYSE">VFC</a>) stock upped 22.38% after the company announced it entered into a Stock and Asset Purchase Agreement to sell its Supreme brand to EssilorLuxottica (OTC: <a href="https://www.benzinga.com//node/39819517" target="_blank" rel="noreferrer noopener">ESLOF) for $1.5 billion in cash</a>. Several analysts raised <a href="https://www.benzinga.com//node/39837581" target="_blank" rel="noreferrer noopener">their price forecasts on VFC</a>.</li>
<li>New Fortress Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFE#NASDAQ">NFE</a>) shares grew 20.19% after the company announced that it achieved First LNG for its initial Fast LNG asset <a href="https://www.benzinga.com//node/39859500" target="_blank" rel="noreferrer noopener">located offshore Altamira, Mexico</a>.</li>
<li>Riot Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>) stock gained 16.06% in the last week amid a rise in the Bitcoin price.</li>
<li>Clarivate Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLVT#NYSE">CLVT</a>) stock grew 14.41%. The company partnered with Ohio Libraries Partner to <a href="https://www.benzinga.com//node/39831429" target="_blank" rel="noreferrer noopener">enhance resource sharing by 2025</a>.</li>
<li>AMN Healthcare Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMN#NYSE">AMN</a>) stock rose 14.22%.</li>
<li>BankUnited, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKU#NYSE">BKU</a>) stock rose 13.42% after the company reported <a href="https://www.benzinga.com//node/39834218" target="_blank" rel="noreferrer noopener">better-than-expected Q2 financial results</a>.</li>
<li>Marathon Digital Holdings Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) stock soared 12.67% last week on the back of Bitcoin gains.</li>
<li>eXp World Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPI#NASDAQ">EXPI</a>) stock was up 12.34%.</li>
<li>Zeta Global Holdings Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZETA#NYSE">ZETA</a>) was up 11.87% in the last week as <a href="https://www.benzinga.com/quote/ZETA/analyst-ratings" target="_blank" rel="noreferrer noopener">several analysts</a> raised their price forecasts on the stock.</li>
<li>NCR Atleos Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NATL#NYSE">NATL</a>) shares increased 11.39%. The company disclosed that the $2.3 billion-asset Black Hills Federal Credit Union (BHFCU) has expanded its partnership with Atleos by selecting ATM as a Service (ATMaaS) and ITM as a Service (ITMaaS) <a href="https://www.benzinga.com//node/39813077" target="_blank" rel="noreferrer noopener">to enhance self-service banking</a>.</li>
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<li><a href="https://www.benzinga.com/news/large-cap/24/07/39873577/amd-and-dominos-pizza-were-among-11-worst-performers-in-large-cap-space-last-week-july-14-july-20-" target="_blank" rel="noreferrer noopener">AMD And Domino's Pizza Were Among 11 Worst Performers In Large Cap Space Last Week (July 14- July 20) – Are The Others In Your Portfolio?</a></li>
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Photo via Shutterstock

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Riot Platforms & North Face Parent V.F. Corp Are Among 11 Mid-Cap Stocks That Performed The Best Last Week (July 14-July 20): Are Others In Your Portfolio?

V.F. Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VFC#NYSE">VFC</a>) shares are trading higher after the company announced it entered into a Stock and Asset Purchase Agreement to sell its Supreme brand to EssilorLuxottica (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ESLOF#OTC">ESLOF</a>) for $1.5 billion in <a target="_blank" href="https://www.essilorluxottica.com/en/newsroom/press-releases/essilorluxottica-to-acquire-supreme-from-vf-corporation/" rel="noreferrer noopener">cash</a>.
Supreme operates a digital-first business and 17 stores across the U.S., Asia, and Europe.
VFC stated that the Supreme brand has grown significantly in China and South Korea; however, a strategic review highlighted limited synergies between Supreme and its integrated model, which led to sale of the brand.
Francesco Milleri, Chairman and Chief Executive Officer and Paul du Saillant, Deputy Chief Executive Officer at EssilorLuxottica, said,&nbsp;&#8220;We see an incredible opportunity in bringing an iconic brand like Supreme&#xAE;&nbsp;into our Company. It perfectly aligns with our innovation and development journey, offering us a direct connection to new audiences, languages and creativity.&#8221;
The transaction is expected to close by the end of 2024, pending customary conditions and regulatory approvals. The sale is anticipated to dilute VFC&#8217;s <a href="https://www.benzinga.com/calendars/guidance" target="_blank" rel="noreferrer noopener">earnings per share in FY25</a>.
Bracken Darrell, President and Chief Executive Officer at VF said, &#8220;While we will always look to adjust the VF portfolio from time to time, this transaction gives us increased balance sheet flexibility. It also supports our overall program to better position the company for long term growth and more normalized debt levels.&#8221;
Price Action: VFC shares are up 7.59% at $15.30 at the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock

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Why Apparel Company VF Corp Shares Are Surging Today

The transaction is expected to close by the end of CY2024, subject to customary closing conditions and regulatory approvals. The&nbsp;Supreme&nbsp;brand runs a digital-first business and 17 stores in the U.S., Asia and Europe.

EssilorLuxottica Agrees To Acquire The Supreme Brand From VF For $1.5B Cash

Eastman Kodak Co&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kodk#NYSE">KODK</a>) penned a perpetual, global brand licensing deal with&nbsp;Essilorluxottica&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/eslof#OTC">ESLOF</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/esloy#OTC">ESLOY</a>). The financial terms were not disclosed.
As per the deal, effective January 1, 2024, EssilorLuxottica gets an exclusive right to use the Kodak registered trademarks for its products and services.
Notably, EssilorLuxottica will boost the development of the Kodak brand in its vast range of product categories.
The new deal is an extension of an existing contract between both companies.
&quot;We are excited about the opportunity to expand our brand licensing arrangement with a vision care industry leader like EssilorLuxottica. We know the Kodak brand is in good hands along with the other esteemed brands in the EssilorLuxottica portfolio. This agreement is a great fit for Kodak. We share EssilorLuxottica&#39;s commitment to meeting evolving customer needs through innovation, and we look forward to a long and successful relationship,&quot; said Jim Continenza, Executive Chairman and CEO.
Price Action: KODK shares are trading higher by 2.22% at $5.74 on the last check Thursday.

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Kodak Signs Global Licensing Deal With Essilorluxottica

<ul>
<li>Bloomberg reported that the maker of Ray-Ban glasses sued&nbsp;J.P. Morgan Chase Bank N.A.,&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2022-04-26/jpmorgan-sued-after-millions-stolen-from-ray-ban-maker-s-account?sref=TBDibEcD" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">claiming the bank ignored red flags as cybercriminals drained $272 million</a>&nbsp;from its New York bank account.</li>
<li>Essilor Manufacturing (Thailand) Co. said J.P. Morgan was aware, beginning in September 2019, of a &ldquo;highly suspicious pattern of fraudulent transactions&rdquo; but didn&rsquo;t notify the company.</li>
<li>Red flags included a jump in monthly dollar volume from $15 million to more than $100 million and money being moved to shell companies at regional banks, often in high-risk jurisdictions, EMTC said in the complaint filed Monday in federal court in Manhattan.</li>
<li>&ldquo;The fraudulent transfers were all made in round dollar amounts (i.e., no cents), which was a dramatic departure from prior periods where round dollar transfers were relatively infrequent,&rdquo; EMTC said.</li>
<li>EMTC operates a manufacturing plant in Thailand for France-based&nbsp;EssilorLuxottica SA. J.P. Morgan Chase Bank is a unit of JPMorgan Chase &amp; Co (NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/jpm#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">JPM</a>)</li>
<li>EMTC said it recovered all but $100 million of the stolen funds &ldquo;through a costly and burdensome process.&rdquo; It&rsquo;s seeking compensatory damages to be determined at trial.</li>
<li>Photo by Okan Caliskan from Pixabay</li>
</ul>

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Essilor Sues JPMorgan Bank On Ignored Suspicious Transaction Red Flags: Bloomberg

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