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BlackRock Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>), the world's largest asset manager with $11.5 trillion in assets, is finalizing a deal to acquire HPS Investment Partners, a prominent private credit firm managing nearly $150 billion.
What Happened: The acquisition, expected to be announced after Thanksgiving, the Financial Times reported citing four people familiar with the matter, could be valued at around $12 billion, surpassing HPS's earlier estimated IPO valuation of $10 billion.
Founded by former Goldman Sachs executive Scott Kapnick, HPS has grown into a major player in private credit, benefiting from traditional banks retreating due to stricter post-crisis regulations.
This move aligns with BlackRock's strategy to expand its alternative assets business, a high-fee segment gaining prominence. The firm recently completed a $12.5 billion deal for Global Infrastructure Partners and agreed to acquire Preqin for £2.55 billion.
If finalized, this acquisition will position BlackRock ahead of competitors like Ares and Blackstone in the burgeoning private credit market. Neither BlackRock nor HPS has commented on the
BlackRock did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
Read Next: 
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<li><a href="https://www.benzinga.com/news/retail-sales/24/11/42225933/black-friday-cyber-monday-shopping-set-to-break-sales-records">Black Friday, Cyber Monday Shopping Set To Break Sales Records</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

News

Markets

BlackRock Set To Acquire Private Credit Manager HPS For $12B: Report

Soundhound AI (SOUN) has been soaring lately with news of voice AI integration, but a recent <a href="https://www.benzinga.com/insights/short-sellers/24/11/42165886/how-is-the-market-feeling-about-soundhound-ai?adt_ei=%7b%7bemail%7d%7d">Benzinga article</a> on highlights the steep rise in short interest – a whopping 24% of all regular shares are shorted and this would take more than three days of normal trading volume to cover.
This means that SOUN is a target for a short squeeze. Why? Because short sellers will have to buy the stock to cover their positions, and this will push prices even higher. So, how might we position for upside here with the limited risk?
Why, the butterfly trade, of course!
Trade structure – the long call butterfly trade
The long call butterfly is a combination of a long call spread, and a short call spread where the short strikes are shared. Here's the trade:
<ul>
<li>Buy to open 1 SOUN 17 Jan 8 calls</li>
<li>Sell to open 2 SOUN 17 Jan 12 calls</li>
<li>Buy to open 1 SOUN 17 Jan 15 calls</li>
</ul>
[<a href="https://www.benzinga.com/pro/checkout/black-friday-24/?utm_source=WebRD-1128">Black Friday Week: Save 60% on Benzinga Pro—The Market's Ultimate Trading Suite</a>]
The total cost of this spread is currently 0.46 at this writing and it is also the maximum risk in the position. There is one caveat here – the distance between the strikes will make this a winning trade even if the stock moves well above $15. Here's why:
In a standard long butterfly spread, the distance between the middles strikes and the outer strikes are the same. This means that if the stock moves dramatically higher when holding the long call butterfly, the entire position would be a loss if held into the expiration date.
This butterfly, however is different.
The spread between the 8 and 12 strikes is $4, while the spread between the 12 and 15 strikes is $3 &#8211; leaving an extra $1 to collect even if prices expand north.
The total potential profit if the price of the stock does not breach $12 would be calculated this way: $12-8 = $4 (distance between the strikes) minus how much we paid for it 0.46 = $3.54 less commissions.
Potentially 600%!
That said, if the prices stay steady, this option position will gradually erode to zero, so manage your risk according to that understanding.
Trade Management
SOUN's relative resistance zone is right around $7.80 (where it sits now) The relative support is near $4.20.
The strategy result provides only two choices to exit the trade:
<ol>
<li>To sell the call butterfly when it is performing at your target parameters. I like the 200%-300% profit range.</li>
<li>To sell the call butterfly when it hits the short strike or hits the loss threshold that is desirable for you. Again, I like the 50% stop here.</li>
</ol>

Elevate your trading game with the market&#8217;s most powerful suite of tools, featuring breaking news, expert insights, and real-time alerts. <a href="https://www.benzinga.com/pro/checkout/black-friday-24/?utm_source=WebRD-1128">Don't miss the Black Friday Week deal—60% off Benzinga Pro!</a>

Opinion

Trading Ideas

The Perfect Trade For This AI "Short Squeeze"

President-elect Donald Trump said he has had a &#8220;wonderful conversation&#8221; with Mexico&#8217;s President, Claudia Sheinbaum, aimed at curbing migration and drug inflow into the United States.
What Happened: On Wednesday, Trump shared on Truth Social about a productive conversation he had with Sheinbaum. The Mexican President has reportedly agreed to halt migration through Mexico into the United States, effectively securing the Southern Border. The leaders also discussed strategies to curb the massive drug inflow into the U.S. and the country&#8217;s consumption of these drugs.
Trump said, &#8220;She has agreed to stop Migration through Mexico, and into the United States, effectively closing our Southern Border. We also talked about what can be done to stop the massive drug inflow into the United States, and also, U.S. consumption of these drugs. It was a very productive conversation!&#8221;
Trump lauded this agreement as a significant step towards halting the &#8220;illegal invasion&#8221; of the U.S. and expressed his gratitude towards Sheinbaum.
He said, &#8220;Mexico will stop people from going to our Southern Border, effective immediately.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/general/education/24/11/42204590/trump-department-of-homeland-security-pick-kristi-noem-owns-ranch-invests-in-energy-gets-book-royalties?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Department Of Homeland Security Pick Kristi Noem Owns Ranch, Invests In Energy, Gets Book Royalties</a>
Why It Matters: This announcement comes in the backdrop of Trump&#8217;s earlier plans to <a href="https://www.benzinga.com/24/11/42178994/trump-says-he-will-impose-25-tariffs-on-canada-mexico-on-first-day-of-office-and-extra-tariffs-on-china-until-they-pay-attention">impose a 25% tariff</a> on all products from Mexico and Canada. Trump had described the situation at the borders as an &#8220;invasion&#8221; and linked it to rising crime and drug levels.
Sheinbaum had previously responded to Trump&#8217;s tariff threats by <a href="https://www.benzinga.com/markets/cannabis/24/11/42225423/mexico-president-claudia-sheinbaum-to-trump-neither-threats-nor-tariffs-will-solve-your-fentanyl-crisis">emphasizing cooperation</a> over confrontation. She stated that &#8220;neither threats nor tariffs&#8221; would solve the migration or drug abuse issues in the U.S.
The proposed tariffs had also escalated trade tensions between the U.S. and Mexico, causing the Mexican peso to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42219612/usmexico-trade-tensions-escalate-as-mexican-peso-hits-august-2022-lows-why-is-auto-industry-most-at-risk">weaken significantly</a>.
Image via Shutterstock
Did You Know?
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
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/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Politics

General

Trump Praises 'Wonderful Conversation' With Mexican President Sheinbaum: 'She Has Agreed To Stop Migration'

DBVT

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SLXN

Earnings

Birks Group Mid-Year FY25 EPS C$(0.16) Down From C$(0.08) YoY, Sales C$80.12M Down From C$87.82M YoY

Banco Macro Q3 Net Income Up 293% YoY, Total Deposits Increase 30% YoY

Florida's Department of Health announced plans to award 22 new medical cannabis licenses, a decision that could reshape the state's cannabis industry but is likely to face legal challenges. 
The announcement, posted Tuesday on the agency's website (<a href="https://www.tallahassee.com/story/news/local/state/2024/11/27/florida-picks-22-applicants-to-get-next-medical-marijuana-licenses/76623095007/">via</a> Tallahassee Democrat), comes more than 18 months after applications closed in April 2023.
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/11/42225423/mexico-president-claudia-sheinbaum-to-trump-neither-threats-nor-tariffs-will-solve-your-fentanyl-crisis">Mexico President Claudia Sheinbaum To Trump: &#8216;Neither Threats Nor Tariffs&#8217; Will Solve Your Fentanyl Crisis</a>
The new licenses are a result of a 2017 law mandating an increase in licenses as the number of medical marijuana patients grows, which now surpasses 880,000. This process has attracted significant attention since it marks the first chance for new businesses to enter Florida&#8217;s medical cannabis market since the law&#8217;s enactment.
The department's letters of intent signal approval for 22 businesses out of the 74 that applied last year, each paying a $143,000 application fee. The evaluation process, carried out by consulting firm KPMG, cost the state nearly $1.79 million. However, the letters do not grant immediate operating licenses, leaving room for legal action from applicants who were not selected.
<h3 class="wp-block-heading">Anticipated Legal Battles</h3>
Legal disputes are expected to delay the process, possibly for years, given the competitive nature of <a href="https://www.benzinga.com/24/11/42017405/medical-marijuana-footprint-grows-in-florida-as-legalization-push-fizzles-and-other-new-cannabis-stores-that-launched-sales">Florida's cannabis market. </a>
"Historically, when these sorts of things happen, litigation does occur. You have 22 people that are very happy and 50 people that are not very happy at all," Department of Health spokesperson Jae Williams said in dialogue with The News Service of Florida. 
He also noted the substantial investments made by applicants and the department's responsibility to ensure that approved operators meet high standards for quality.
Applicants have called for legislative intervention to prevent prolonged delays. Attorney Paula Savchenko, who worked with Florida Sports Consultants, Inc.—operating as Belushi's Farm Florida—said the process could stall for months or even years without action.
"If we don't have a legislative fix, we're going to see these licenses held up for anywhere between six months to two years," Savchenko said.
<h3 class="wp-block-heading">Industry Shifts And New Players</h3>
Notable applicants receiving letters include Florida Sports Consultants, Inc., led by actor Jim Belushi, who also operates a cannabis farm in Oregon. Other approved businesses include STIIIZY Florida, LLC, A Good Decision, LLC and Theory Wellness of Florida, LLC. The additions bring Florida closer to doubling its licensed operators, which currently stand at 25, managing over 690 dispensaries statewide.
Quincy-based Trulieve Cannabis Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>), the state's largest medical marijuana operator, welcomed the expansion. 
"We are pleased that the licenses are finally issued, bringing the number of licensees to 47. We continue to look forward to working with the governor and legislature to expand access to safe, lab-tested cannabis for Floridians," the company said in a statement.
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.</li>
</ul>
<h3 class="wp-block-heading">Broader Context</h3>
The decision to award licenses coincides with <a href="https://www.benzinga.com/markets/cannabis/24/11/41780079/floridas-cannabis-initiative-defeated-trulieve-ceo-kim-rivers-nfls-ricky-williams-and-others-res">the defeat of a proposed constitutional amendment </a>that sought to legalize recreational marijuana. 
The measure received 56% voter approval but fell short of the 60% threshold needed for passage. Governor Ron DeSantis played a significant role in opposing the amendment, which had been heavily supported by industry leaders, including Trulieve.
"The majority of people in the industry would rather have had recreational pass, but we all are pretty confident that it's going to pass sometime in the next two to four years," Savchenko said.
For now, Florida's medical marijuana industry is bracing for the next phase, with new players poised to enter the market and potential legal hurdles still ahead.
Read Next:
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<li><a href="https://www.benzinga.com/general/health-care/24/11/42222815/cannabis-on-thanksgiving-10-science-backed-benefits-for-a-happier-holiday">Cannabis On Thanksgiving: 10 Science-Backed Benefits For A Happier Holiday</a></li>
</ul>
Cover image made with AI.

Cannabis

Government

TCNNF

Florida To Award 22 New Cannabis Licenses After 18-Month Wait—Legal Battles Ahead?

The Detroit Lions and Dallas Cowboys traditionally play on Thanksgiving, making NFL games a key part of the holiday, alongside family gatherings and feasts. It is also a day off for the <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/23/11/35930411/is-the-stock-market-closed-on-thanksgiving-traders-prepare-for-a-holiday-break">country's major stock markets</a>.
Along with the Lions and Cowboys, four other NFL teams will be featured across three NFL games on Thanksgiving Day.
Lions and Cowboys Thanksgiving Day Games: Dating back to 1934, the Detroit Lions have played in the annual Thanksgiving Day game. The lone exceptions were the 1939 through 1944 seasons that weren&#8217;t played due to World War II. The games have become a staple for the&nbsp;<a href="https://www.benzinga.com/topic/nfl" target="_blank" rel="noreferrer noopener">National Football League.</a>
The idea for the Thanksgiving Day game was&nbsp;<a href="https://www.espn.com/nfl/story/_/id/32646037/nfl-thanksgiving-day-games-history-lions-cowboys-play-every-year-moments-traditions-records" target="_blank" rel="noreferrer noopener">created&nbsp;</a>by former Lions owner&nbsp;G.A. Richards&nbsp;as a way to increase attendance and media hype for the team. Richards purchased the Portsmouth (Ohio) Spartans and moved them to Detroit before the tradition began.
The first Thanksgiving Day game was watched by more than 26,000 fans.
The Dallas Cowboys played on Thanksgiving Day in 1966, beating the Cleveland Browns 26-14. The Cowboys&#8217; first Thanksgiving Day game was attended by 80,259 people. The Cowboys have played a Thanksgiving Day game every year since except 1975 and 1977.
Similar to the Lions, the Cowboys saw the holiday as a way to create more national media attention for the team.
The Lions created the concept, and the game pre-dates the Super Bowl and many of the NFL teams being created, which makes tradition the biggest reason why the Lions and Cowboys play in their respective games annually.
In 2006, the NFL added a prime-time Thanksgiving Day game that features two rotating teams.
Thanksgiving Day Stats:&nbsp;The Lions lost its first Thanksgiving Day game and haven&#8217;t had success in many of the contests: the franchise holds an all-time 37-45-2 record in Thanksgiving Day games. The Lions have lost seven straight Thanksgiving Day games heading into the 2024 contest.
As the creators of the game concept, the Lions have the most Thanksgiving Day wins with 37, but one of the worst records overall.
The Cowboys have had better success in their games, holding an all-time-record of 33-22-1.
While they don&#8217;t play every year, two other teams largely featured are the&nbsp;Chicago Bears&nbsp;and&nbsp;Green Bay Packers, which hold all-time Thanksgiving Day records of 20-15-2 and 15-20-2, respectively. Both the Bears and Packers play on Thursday.
The&nbsp;Jacksonville Jaguars&nbsp;are the only NFL team to never play in a Thanksgiving Day game. Several teams have never won on Thanksgiving Day, with the Tampa Bay Buccaneers and Cincinnati Bengals each holding a 0-1 record.
Read Also: <a href="https://www.benzinga.com/general/sports-betting/24/08/40555085/sports-illustrated-predicts-detroit-lions-to-win-super-bowl-heres-how-much-100-bet-could-p">Sports Illustrated Predicts Detroit Lions To Win Super Bowl: Here&#8217;s How Much $100 Bet Could Pay If History Is Made</a>
2024 Thanksgiving Day Games:&nbsp;Here&#8217;s a look at the&nbsp;three 2024 Thanksgiving Day games, how to watch and the betting odds.
<ul>
<li>Chicago Bears (4-7) at Detroit Lions (10-1): 12:30 p.m. ET on CBS, a unit of Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARAA#NASDAQ">PARAA</a>)</li>
<li>New York Giants (2-9) at Dallas Cowboys (4-7): 4:30 p.m. ET on FOX, a unit of Fox Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOX#NASDAQ">FOX</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOXA#NASDAQ">FOXA</a>)</li>
<li>Miami Dolphins (5-6) at Green Bay Packers (8-3): 8:20 p.m. on NBC, a unit of Comcast Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>)</li>
</ul>
The Giants are 7-6-3 all-time in Thanksgiving Day matches and the Dolphins are 5-2 all-time on Thanksgiving Day.
All three home teams are the favorites in their Thursday games. Betting odds from DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>) show the Lions favored by 9.5 points, the Cowboys favored by 3.5 points and the Packers favored by 3.5 points.
Betting on all three favorites to win pays out with odds of +212, which would turn $100 bet into a profit of $212 if the Lions, Cowboys and Packers all win. Betting on all three favorites to cover the spread and win by the totals listed above would pay out at +638, turning $100 bet into a profit of $638 if all three teams cover.
Betting favorites on Thanksgiving Day are 48-9 straight up and 38-19 against the spread since 2004, according to <a href="https://www.actionnetwork.com/nfl/nfl-thanksgiving-betting-trends-stats-notes-action-network-betting-primer-2024">data </a>from Action Network.
A win by the Bears could be one of the biggest upsets on Thanksgiving Day since 1980 depending on where the spread closes. The current record is the Dolphins beating the Cowboys as 10-point underdogs in 1993. The Packers win over the Lions in 2023 as 8.5-point underdogs ranks second.
Why It's Important: The Thanksgiving Day NFL games could be part of a huge week for sportsbooks. Macquarie analyst Chad Beynon estimates $4.5 billion will be bet by U.S. bettors over Thanksgiving week from Nov. 25 to Dec. 1, as <a href="https://www.casino.org/news/thanksgiving-football-feast-4-5b-in-wagers-expected-this-week/">reported </a>by Casino.org.
This figure would be up 11% year-over-year and comes with a record 38 states and Washington D.C. allowing legal sports betting for this year's Thanksgiving Day games.
Prime-time games, which typically occur at nighttime often see increased betting with more viewers watching. The three Thanksgiving Day games could all be treated like prime-time games according to Beynon.
The Thanksgiving Day games feature the red-hot Lions who have won nine games in a row and are the current betting favorites to win Super Bowl LIX. The Lions are one of <a href="https://www.benzinga.com/general/sports-betting/24/09/40720484/which-4-teams-have-never-reached-the-super-bowl-betting-payouts-if-history-is-made-in-2024">only four teams </a>to never make a Super Bowl appearance.
DraftKings lists the Lions as the Super Bowl favorites at +250, ranking ahead of the Kansas City Chiefs (+450), who are seeking a third-straight championship. The Packers rank sixth with odds of +1,600 and the Dolphins have odds of +9,000.
The other Thursday teams (Giants, Bears, Cowboys) all have odds of +100,000 to win Super Bowl LIX as all will likely miss making the NFL Playoffs.
Read Next: 
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<li><a href="https://www.benzinga.com/general/sports/24/11/42101566/trump-dance-takes-over-sports-celebrations-move-over-griddy-gronk-spike-athletes-are-paying-tribute-or-poking-fun-at-president-elect">Trump Dance Takes Over Sports Celebrations: Move Over Griddy, Gronk Spike, Athletes Are Paying Tribute (Or Poking Fun) At President-Elect</a></li>
</ul>
This article was previously published by Benzinga and has been updated.
This image used was created using artificial intelligence MidJourney.

Entertainment

Sports Betting

Sports

Media

CMCSA

DKNG

FOXA

PARA

PARAA

Here's Why The Detroit Lions, Dallas Cowboys Always Have Thanksgiving Day NFL Games

FRST

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Quinlan will continue serving on the Board. John Ratigan, Comtech's President and CEO, will report directly to Traub and they will be working closely together.
In addition, former U.S. Army Chief Information Officer, Lieutenant General (Retired) Bruce T. Crawford, has been elected to serve as Lead Independent Director.
&nbsp;

Management

CMTL

Comtech Telecommunications Names Kenneth Traub As Executive Chairman; Mark Quinlan Has Stepped Down As Chairman Of Board

The study found that twice-yearly lenacapavir for pre-exposure prophylaxis (PrEP) was highly efficacious at reducing HIV infections, reducing them by 96% compared to background HIV incidence.&nbsp;
Twice-yearly lenacapavir for PrEP also demonstrated superiority to once-daily Truvada&#xAE; (emtricitabine 200 mg and tenofovir disoproxil fumarate 300 mg; F/TDF) for PrEP and was generally well-tolerated, with no significant or new safety concerns identified.&nbsp;
&nbsp;

GILD

Gilead Says NEJM Published Full Results From Pivotal Phase 3 Purpose 2 Trial Evaluating Twice-yearly Lenacapavir

AREB

American Rebel Receives Delinquency Notification Letter From Nasdaq

PMEC

Primech Holdings Gets Nasdaq Minimum Bid Price Requirement Extension Until May 12, 2025, To Regain Compliance

CELU

Celularity Receives Notification From Nasdaq About Non-Compliance With Continued Listing Requirements

Retailers are expecting a record-breaking Black Friday to Cyber Monday shopping period as cash-strapped consumers are expected to shop early in the holiday season for sales <a href="https://www.benzinga.com/news/retail-sales/24/11/42220200/black-friday-discounts-too-good-to-be-true-survey-shows-only-42-of-sales-are-authentic">promotions and savings.&nbsp;</a>
What To Know: Management consultancy firm Bain &amp; Company <a href="https://www.bain.com/insights/black-friday-2024-sales-forecast-snap-chart/">forecasts</a> U.S. retail sales during the Black Friday to Cyber Monday period will reach $75 billion for the first time ever, growing by about 5% year-over-year. The firm sees about 8% of total holiday sales will come during this period, the highest share since 2019, underscoring the importance of the key shopping period for retailers.&nbsp;
"The holiday shopping season has been reshaped in recent years, where consumers are making purchases earlier, driven by a stream of discounts that has allowed shoppers to manage their budgets in different ways," says Vivek Pandya, lead analyst, Adobe Digital Insights.&nbsp;
Read Next: <a href="https://www.benzinga.com/news/retail-sales/24/11/42170721/thanksgiving-dinner-gobbles-up-19-more-cash-this-year-many-holiday-hosts-already-regret-their-decision">Thanksgiving Dinner Gobbles Up 19% More Cash This Year, Many Holiday Hosts &#8216;Already Regret Their Decision&#8217;</a>
Online Shopping: Adobe Digital Insights <a href="https://news.adobe.com/news/2024/09/092524-adi-holiday-forecast">expects</a> Cyber Week (the 5-day period including Thanksgiving, Black Friday and Cyber Monday) online sales of $40.6 billion, up 7% over last year and adding up to 16.9% of the overall holiday season sales.&nbsp;
Adobe sees Cyber Monday as the biggest shopping day of the year, driving a record $13.2 billion in sales, an increase of 6.1% from 2023.&nbsp;
In-store Shopping: In-store shopping still remains an important part of Black Friday for many consumers. According to<a href="https://www.linkedin.com/redir/redirect?url=http%3A%2F%2FPlacer%2Eai&amp;urlhash=w5Z_&amp;trk=article-ssr-frontend-pulse_little-text-block"> Placer.ai</a> analytics, Black Friday 2023 saw a 300% increase in mall visits compared to the first three weeks of November. Superstores also saw an 81% rise, demonstrating demand across shopping formats.&nbsp;
Most Wanted Items: Consumers are expected to gobble up Cyber Week deals on electronics from retailers like Best Buy Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>) on hot items like Beats Studio Pro Wireless Noise Cancelling Headphones at more than 60% off its regular price.&nbsp;
Read Next: <a href="https://www.benzinga.com/news/retail-sales/24/11/42220200/black-friday-discounts-too-good-to-be-true-survey-shows-only-42-of-sales-are-authentic">Black Friday Discounts Too Good To Be True? Survey Shows Only 42% Of Sales Are Authentic</a>
Placer.ai expects beauty and personal care items to be another hot item with discounts on gift sets from retailers like Ulta Beauty, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>) drawing shoppers online and in stores.&nbsp;
Sporting goods and outdoor equipment will see record-high discounts averaging 20%, according to Abode Digital Insights, with retailers like Dicks Sporting Goods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKS#NYSE">DKS</a>) benefiting from the increased spending on experiences and activities.&nbsp;
When To Shop: Adobe Digital Insights says Thanksgiving Day will be the best day to shop for toys, appliances, furniture and sporting goods, while Black Friday will offer the deepest discounts for TVs. The Saturday after Thanksgiving will have the best deals for computers and Cyber Monday will be the best day to shop for electronics and apparel, the two biggest categories in e-commerce by revenue share. 
Read More: • <a href="https://www.benzinga.com/24/11/42194570/starbucks-employee-systems-down-after-software-provider-suffers-ransomware-attack">Starbucks&#8217; Employee Systems Down After Software Provider Suffers Ransomware Attack</a>
Photo: gonghuimin468 from Pixabay

Retail Sales

ULTA

Black Friday, Cyber Monday Shopping Set To Break Sales Records

XELB

XCEL BRANDS Receives Delinquency Notification Letter From Nasdaq

Shares of Autodesk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) are trading lower on Wednesday but they may have found support. The company posted earnings that were <a href="https://www.benzinga.com/news/offerings/24/11/42202548/autodesk-stock-slides-on-q3-earnings-key-details-from-quarter">slightly better than estimates</a> but investors are concerned about decreasing margins.
Our team of traders and technical analysts has made it our <a href="https://www.benzinga.com/topic/stock-of-the-day">Stock of the Day</a>.
Operating margin is the percent of profit a company has on a dollar of sales after all costs are considered. In Q3 of last year, Autodesk had an operating margin of 24%. This means that for every dollar of sales, the company kept 24 cents.
But this year, the margin has dropped to 22%. This means they are now only keeping 22 cents. This may not sound like a significant drop, but it shows that the company is becoming less efficient. This may be a bearish sign for the longer-term and some investors are selling.
It isn't a coincidence that the shares found support around the $293 level.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="532" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27164814/11-2-1024x532.png" alt="Autodesk" class="wp-image-668317" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27164814/11-2-1024x532.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27164814/11-2-300x156.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27164814/11-2-768x399.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27164814/11-2-1536x798.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27164814/11-2.png 1567w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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As you can see on the chart, this level was resistance in October. Many of the investors and traders who sold at this resistance thought they made a good decision when the price dropped soon after.
But in early November the resistance broke and the stock gapped higher. When this happened, some of those who sold came to regret their decision to do so. A number of them decided to buy their shares back.
But they would only do so if they could buy them at the same price they were sold for.
As a result, now that the stock has dropped back to their selling prices they are placing buy orders. The large concentration of these orders has formed support at the price that had been resistance.
Sometimes stocks rally after they drop to resistance.
This happens because some of the buyers become nervous. They know that the sellers are going to go to whoever is willing to pay the highest price. They are afraid that they will be outbid by other buyers.
So, they increase their bid prices. Other nervous buyers see this and do the same thing. It could result in a snowball effect or bidding war that pushes the price up.
Levels that had been resistance can become support. Stocks tend to rally after reaching support. Shares of Autodesk may be about to move higher.
Price Action: Autodesk closed Wednesday at $290.64 per share, down 8.6%. 
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42197276/anthony-scaramucci-trump-win-is-the-greatest-political-comeback-in-us-history-crypto-surge-following-it-was-3-years-overdue">Anthony Scaramucci: Trump Win Is &#8216;The Greatest Political Comeback In US History,&#8217; Crypto Surge Following It Was 3 Years Overdue</a>

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Stock Of The Day: Autodesk Beats Earnings As Shares Find Support At This Level

Canada has started preparing for potential retaliatory tariffs on U.S. goods following President-elect Donald Trump's recent threats to impose sweeping <a href="https://www.benzinga.com/topic/canada">duties on Canadian imports.</a> 
A senior Canadian government official told <a href="https://apnews.com/article/canada-trump-tariffs-trudeau-c741393c2f7c7545e9714839cfbbda45">AP News</a> Wednesday that discussions are underway to target certain U.S. items if Trump follows through on his proposed 25% tariff, although no final decision has been made.
This move comes as Trump renews his hardline stance on trade, calling for punitive tariffs to address what he described as the flow of drugs and migrants across both the northern and southern borders. 
Canada has faced a similar situation in the past, such as in 2018 when it imposed billions of dollars in retaliatory duties on U.S. goods after the Trump administration hiked tariffs on Canadian steel and aluminum.
<h3 class="wp-block-heading">Canadian Dollar Poised For Further Declines</h3>
Wall Street analysts expect additional downside in the Canadian dollar – as tracked by the Invesco CurrencyShares Canadian Dollar Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXC#NYSE">FXC</a>) – if the tariff threats materialize.
Robert Kavcic, senior economist at BMO Economics, highlighted Canada's vulnerability as a &#8220;small, open economy&#8221; heavily reliant on U.S. trade. 
&#8220;The U.S. market accounts for roughly 75% of Canadian goods exports, which in total comprise about 25% of Canadian GDP,&#8221; Kavcic wrote in a note.
"In general, we'd expect the Canadian dollar to see the biggest and most immediate market impact, extending the weakness seen in recent months. In this event, we see room for further depreciation from recent levels above 1.41 against the dollar."
Shaun Osborne, chief forex strategist at Scotiabank, also expressed skepticism about Canada's ability to quickly address the incoming administration&#8217;s concerns. 
Osborne explained that Trump's newly appointed &#8220;border czar,&#8221; Tom Homan, has already labeled the northern border as &#8220;an extreme national security issue,&#8221; which could complicate negotiations.
&#8220;More CAD losses seem inevitable unless the Canadian government can muster a response that satisfies the incoming administration quickly, however. That may not be easy,&#8221; Osborne warned. 
He continued, &#8220;The risk of 25% tariffs remains just that at the moment, but the longer the threat lingers and the closer we get to the inauguration, the weaker the CAD may trade."
According to data from the U.S. Census Bureau, U.S. imports from Canada reached $481 billion in 2023, while Canadian imports of U.S. goods amounted to $354 billion during the same period.
In terms of products, Canada's top export to the United States was crude oil and other fuels, totaling approximately $120 billion, followed by vehicles at $58 billion.
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42219612/usmexico-trade-tensions-escalate-as-mexican-peso-hits-august-2022-lows-why-is-auto-industry-most-at-risk">US–Mexico Trade Tensions Escalate As Mexican Peso Hits August 2022 Lows: Why Is Auto Industry Most At Risk?</a></li>
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Photo via Shutterstock.

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Canada Prepares Retaliatory Tariffs After Trump Threats: Analysts Warn Of Further Loonie Weakness

Mexican President Claudia Sheinbaum responded to U.S. President-elect Donald Trump in a letter published Tuesday, addressing the issue of the <a href="https://www.benzinga.com/markets/cannabis/24/03/37445551/overdose-crisis-worsens-the-rise-of-fentanyl-smoking-leads-to-even-more-deaths-than-shooting-her">fentanyl crisis</a> and broader drug-related challenges.
Her message emphasized cooperation over confrontation — whereas Trump has a <a href="https://www.benzinga.com/news/24/10/41563454/trumps-escalating-threats-to-rivals-100-and-counting">penchant for the latter</a>.
&#8220;Neither threats nor tariffs will solve the migration or the drug abuse phenomenon in the US,&#8221; Sheinbaum <a href="https://x.com/Claudiashein/status/1861558804652999130">said</a>, calling for collaborative solutions to mitigate the escalating drug crisis.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Migración y consumo de fentanilo no se atenderán con amenazas ni aranceles. México avanza con resultados en acciones integrales; la cooperación y el entendimiento son necesarios. El diálogo es el camino. <a href="https://t.co/mwXkhUCwbL">pic.twitter.com/mwXkhUCwbL</a>
&mdash; Claudia Sheinbaum Pardo (@Claudiashein) <a href="https://twitter.com/Claudiashein/status/1861558804652999130?ref_src=twsrc%5Etfw">November 26, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
<h3 class="wp-block-heading">Sheinbaum To Trump: Fentanyl &#8216;Is An Issue In Your Country&#8217; </h3>
&#8220;For humanitarian reasons, we have consistently expressed Mexico&#8217;s commitment to preventing the continuation of the <a href="https://www.benzinga.com/general/health-care/24/11/42146502/us-overdose-deaths-decline-as-fentanyl-potency-weakens-harm-reduction-expands">fentanyl epidemic</a> in the United States, which, moreover, is an issue of consumption and public health in your country,&#8221; Sheinbaum says in the letter, which she read during her usual morning conferences. 
Sheinbaum detailed Mexico's recent measures, including enforcement actions by the armed forces and prosecutors. According to the data she shared, in 2024 alone, authorities seized large quantities of &#8220;various drugs&#8221;, confiscated over 10,340 firearms, and arrested more than 15,640 individuals for drug-related violence.
Furthermore, she noted Mexico&#8217;s legislative progress toward stricter penalties.
Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.
<h3 class="wp-block-heading">Not Us</h3>
Sheinbaum called attention to the illicit flow of chemical precursors from Asia, which enter North America through Canada, the U.S., and Mexico. 
She stressed that addressing this issue requires international collaboration: &#8220;It is publicly known that these precursors are smuggled into North America. This makes global cooperation imperative.&#8221;
The president juxtaposed the flow of drugs with the southbound<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42166673/drug-cartels-use-tether-and-bitcoin-to-launder-millions-court-documents-reveal"> illegal trafficking</a> of <a href="https://www.benzinga.com/topic/guns">firearms</a> from the U.S. into Mexico. 
She cited stark statistics: 70% of illegal weapons seized in Mexico originate in the U.S., fueling violence. 
&#8220;The synthetic drugs are not consumed by us, and the weapons are not produced here. Yet, we bear the brunt of the deaths caused by organized crime in response to the demand for drugs in your country.&#8221;
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/11/42069004/how-trumps-election-could-revolutionize-cannabis-and-cryptocurrency-ceo-says">How Trump&#8217;s Election Could Revolutionize Cannabis And Cryptocurrency, CEO Says</a>
<h3 class="wp-block-heading">&#8216;Reciprocal Understanding And Cooperation&#8217;</h3>
Sheinbaum rejected the efficacy of punitive tariffs in addressing these challenges. 
Instead, she urged for &#8220;reciprocal understanding and cooperation&#8221; between the two nations. 
She noted that mutual economic ties, especially in industries like automotive manufacturing, <a href="https://www.benzinga.com/news/global/24/11/42198583/will-trump-lead-us-into-trade-war-with-mexico-president-claudia-sheinbaum-rebukes-threats">would suffer</a> under an antagonistic approach, leading to inflation and job losses on both sides of the border, and posed that both Mexico and the U.S. should work together on a mobility program instead of reinforcing the borders. 
&#8220;I am convinced that North America's economic strength lies in preserving our commercial partnership. Dialogue is the best path toward understanding, peace, and prosperity for our nations,&#8221; she added.
<ul>
<li>Read Next:<a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42202496/goldman-sachs-expects-major-selloffs-in-canadian-dollar-mexican-peso-says-trump-tariffs-threaten-usmca-agreement"> Goldman Sachs Expects Major Selloffs In Canadian Dollar, Mexican Peso, Says Trump Tariffs Threaten USMCA Agreement</a></li>
</ul>
Translations in this article were made by Rolando García
Cover: Shutterstock.

Mexico President Claudia Sheinbaum To Trump: 'Neither Threats Nor Tariffs' Will Solve Your Fentanyl Crisis

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