Trust for Professional Managers Jensen Quality Growth ETF (ARCA: JGRW)

Latest news for Trust for Professional Managers Jensen Quality Growth ETF (ARCA:JGRW)

Trust for Professional Managers Jensen Quality Growth ETF

Piper Sandler analyst Arvind Ramnani reiterates Globant (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLOB#NYSE">GLOB</a>) with a Overweight and raises the price target from $238 to $240.

News

Price Target

Reiteration

Analyst Ratings

GLOB

Piper Sandler Reiterates Overweight on Globant, Raises Price Target to $240

<ul>
<li>The U.S. Department of Commerce has proposed up to&nbsp;$1.6 billion&nbsp;for TI in direct funding through the CHIPS and Science Act to support three 300mm semiconductor wafer fabs under construction in&nbsp;Texas&nbsp;and&nbsp;Utah.</li>
<li>TI expects to receive an estimated&nbsp;$6 billion&nbsp;to&nbsp;$8 billion&nbsp;from the U.S. Department of Treasury&#39;s Investment Tax Credit for qualified U.S. manufacturing investments.</li>
<li>The company also expects to receive&nbsp;$10 million&nbsp;in proposed funding for workforce development, as it creates over 2,000 new TI jobs and thousands of indirect jobs for construction, suppliers and supporting industries.</li>
</ul>

Texas Instruments Inks Preliminary Agreement To Get Up To $1.6B In Chips And Science Act Proposed Funding For Semiconductor Manufacturing In Texas & Utah; Company To Get $6B-$8B From U.S. Department of Treasury's Investment Tax Credit

Prominent economist Justin Wolfers expressed concerns about the <a href="https://www.benzinga.com/news/24/08/40385213/trumps-potential-economic-team-is-least-impressive-in-history-says-economist-justin-wolfers-he-will">potential &#8220;inflationary impact&#8221;</a> of former President Donald Trump&#8216;s economic policies.
What Happened: On Friday, Wolfers took to X to voice his apprehensions about the inflationary effects of Trump&#8217;s economic program. 
He wrote, &#8220;Senator, it is so important that you note that inflation is not over, particularly in light of what I learned from taking a careful look at the likely inflationary impact of Trump&#8217;s economic program.&#8221;
In an interview with CNN, he emphasized that policies like tariffs could have an inflationary impact, reduce local competition from China, and potentially undermine the Federal Reserve&#8217;s role.
Wolfers&#8217; remarks were in response to a post by JD Vance, Trump&#8217;s running mate, who suggested that inflation is not over and that electing Trump would &#8220;bring back affordable groceries and housing.&#8221;
<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">Senator, it is so important that you note that inflation is not over, particularly in light of what I learned from taking a careful look at the likely inflationary impact of Trump&#39;s economic program. <a href="https://t.co/LVsmWhcji4">https://t.co/LVsmWhcji4</a> <a href="https://t.co/lDN3LwQsm9">pic.twitter.com/lDN3LwQsm9</a>
&mdash; Justin Wolfers (@JustinWolfers) <a href="https://twitter.com/JustinWolfers/status/1824201083197198783?ref_src=twsrc%5Etfw">August 15, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/news/24/08/40359306/kevin-oleary-calls-kamala-harris-show-me-story-elon-musk-modern-day-bruce-wayne-shark-tank-star-disc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kevin O&#8217;Leary Calls Kamala Harris&#8217; &#8216;Show-Me&#8217; Story, Elon Musk &#8216;Modern Day Bruce Wayne:&#8217; &#8216;Shark Tank&#8217; Star Discusses Inflation And Market Opportunity</a>
These comments by Wolfers come in the <a href="https://www.benzinga.com/news/24/08/40385213/trumps-potential-economic-team-is-least-impressive-in-history-says-economist-justin-wolfers-he-will">wake of a previous statement</a> where he criticized the potential economic team under Trump, calling it the &#8220;least impressive&#8221; in history. He expressed skepticism about the competency of Trump&#8217;s economic team and the potential impact of his policies if he were to be re-elected.
Why It Matters: A group of 16 Nobel Prize-winning economists issued a letter warning that Trump&#8217;s re-election could reignite inflation. They highlighted concerns about <a href="https://www.benzinga.com/news/24/06/39494434/trump-will-reignite-inflation-say-16-nobel-prize-winning-economists-in-a-letter-joe-bidens-economic">Trump&#8217;s plans to make his first-term tax cuts</a> permanent and impose universal tariffs on all imports. The economists collectively agreed that President Joe Biden&#8217;s economic agenda was &#8220;vastly superior&#8221; to Trump&#8217;s. 
Meanwhile, Robert Kiyosaki, author of Rich Dad Poor Dad, referred to Trump as a &#8220;genius with money.&#8221; Kiyosaki&#8217;s remarks <a href="https://www.benzinga.com/news/24/08/40317098/trumps-a-genius-with-money-says-robert-kiyosaki-of-rich-dad-poor-dad-but-hes-1-2-billion-in-debt-him">highlight the contrasting views</a> on Trump&#8217;s financial expertise and economic policies.
As the 2024 election approaches, Vice President Kamala Harris leads Trump in <a href="https://www.benzinga.com/general/politics/24/08/40355353/harris-vs-trump-vice-president-leads-2024-election-poll-by-3-points-shows-strength-among-indepen">recent polls</a>, showing strength among independent and young voters.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/08/40368118/true-us-debt-is-175-trillion-former-coinbase-cto-on-unpayable-crisis?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;True&#8217; US Debt Is $175 Trillion: Former Coinbase CTO On &#8216;Unpayable&#8217; Crisis</a></li>
</ul>
Image Via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Politics

Economics

Justin Wolfers Warns Of 'Inflationary Impact' Of Trump's Policies, Disputes JD Vance's Promise Of 'Affordable Groceries And Housing'

Piper Sandler analyst Brent Bracelin initiates coverage on Couchbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BASE#NASDAQ">BASE</a>) with a Overweight rating and announces Price Target of $22.

Initiation

BASE

Piper Sandler Initiates Coverage On Couchbase with Overweight Rating, Announces Price Target of $22

Macro Economic Events

Econ #s

Eurozone Trade Balance For June 22.3B Vs. 13.3B Est.; 13.9B Prior

Meta Platforms CEO Mark Zuckerberg has commissioned a seven-foot statue of his wife,&nbsp;Priscilla Chan, which has drawn comparisons to characters from the movie &#8220;Avatar.&#8221;
What Happened: On Wednesday, Zuckerberg took to Instagram, and shared images of the statue in which Chat can be seen sipping from a mug that matches the statue&#8217;s color.
He captioned the post saying, &#8220;Bringing back the Roman tradition of making sculptures of your wife,&#8221; and thanking New York-based artist Daniel Arsham.
See Also:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40332493/apples-thinner-iphone-17-air-with-sleeker-design-could-be-a-game-changer-says-promi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple&#8217;s Thinner iPhone 17 &#8216;Air&#8217; With Sleeker Design Could Be A Game-Changer, Says Prominent Tech Bull: Here&#8217;s Why</a>
<figure class="wp-block-image size-large is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/16041327/Screenshot-2024-08-16-at-12.13.02%E2%80%AFPM-1024x751.png" alt="" class="wp-image-498339" style="width:618px;height:auto" /></figure>
The internet was quick to react, with many drawing comparisons to the characters from the movie Avatar and joking about Zuckerberg&#8217;s status as a &#8220;wife guy,&#8221; reported BBC.
Chan also responded to her husband&#8217;s Instagram post with a playful comment,&nbsp;&#8220;The more of me better?&#8221; accompanied by a heart emoji, the report noted.
<figure class="wp-block-image size-large is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/16041506/Screenshot-2024-08-16-at-12.14.43%E2%80%AFPM-1024x751.png" alt="" class="wp-image-498340" style="width:623px;height:auto" /></figure>
Zuckerberg currently has a net worth of $191 billion making him the third wealthiest individual in the world after Elon Musk and Jeff Bezos, according <a href="https://www.bloomberg.com/billionaires/">to</a> Bloomberg&#8217;s Billionaire Index.
Meanwhile, Zuckerberg&#8217;s company, Meta has also been making significant strides in the tech industry.
Last month, Meta reported its <a href="https://www.benzinga.com/news/earnings/24/07/40081701/meta-platforms-q2-earnings-revenue-beat-eps-beat-strong-guidance-meta-ai-is-on-track-to-be-the-most">second-quarter revenue</a> of $39.07 billion, beating analyst estimates of $38.31 billion. The company also reported second-quarter adjusted earnings of $5.16 per share, beating analyst estimates of $4.73 per share. 
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40357647/elon-musk-might-have-triggered-a-bluesky-user-boom-with-his-controversial-uk-riot-remarks-report?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Might Have Triggered A BlueSky User Boom With His Controversial UK Riot Remarks: Report</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Chan Zuckerberg Initiative

Entertainment

Tech

Meta CEO Mark Zuckerberg Commissions Statue Of Wife Priscilla Chan, Sparks Online Buzz: 'Bringing Back The Roman Tradition Of...'

Taking on price gouging and thrusting on sagging residential construction will likely be part of the agenda of a potential Democratic administration under Kamala Harris, according to a statement released by the Harris-[Tim] Walz campaign team. The statement is a prelude to Harris&#8217; first major economic speech scheduled to be made at a campaign rally in Raleigh, North Carolina on Friday.
Accent On Housing: Harris will launch a four-year plan to bring down housing costs for working families and also alleviate housing shortages, excerpts of the statement shared on X <a href="https://x.com/search?q=HARRIS+CAMPAIGN&amp;src=typed_query&amp;f=top">showed. </a>The team said it looks forward to constructing three million new housing units to plug in the shortage in housing supply in the first four years, with involvement from both workers and the private sector. 
The Democrats under Harris will likely seek to expand the existing tax incentives for builders to build affordable rental housing, offer first-ever tax incentives for building starter homes and set up a new federal fund to spur innovative housing construction.
The team also plans to clamp down on corporate and major landlords by stopping rent-setting data firms from price fixing to raise rents by double digits and forbidding Wall Street investors from buying up and marking up homes in bulk.
Harris also proposed a $25,000 down-payment support for first-time homeowners, which will likely benefit four million first-time buyers over four years.
Harris&#8217; focus on housing as a key agenda comes at a time when homebuyers are disadvantaged by rising home rentals and higher home ownership costs, which is seen as a function of higher interest rates and the imbalance in housing supply and demand.
See Also: <a href="https://www.benzinga.com/money/best-home-builder-stocks">Best Home Builder Stocks</a>
Food Prices: Harris also suggested if elected, she would announce the &#8220;first-ever federal ban&#8221; on food price hikes, vesting federal authorities with sweeping powers to clamp down, the Washington Post <a href="https://www.washingtonpost.com/business/2024/08/15/kamala-harris-economic-policy-2024/">reported</a>, citing the statement released by the campaign.
This will set &#8220;clear rules of the road to make clear that big corporations can't unfairly exploit consumers to run up excessive corporate profits on food and groceries,&#8221; the statement reportedly said.
The Post reported that the vice president&#8217;s plan marks a further escalation in the economic populism of President Joe Biden.
Will Harris Go Further Left? The Biden administration went far left in terms of its policies, ranging from antitrust, trade, labor rights, industrial policy and also bypassed party consensus, with the government intervening in nearly every facet of the nation's economy, the Post said.
The vice president will largely tow in line with Biden&#8217;s policies, the report said, adding that apart from advancing her pet themes of care agenda, she would also be pro-union. 
One aspect in which she will diverge from Biden is how she approaches businesses, the report said, citing her meeting with JPMorgan&#8217;s Jamie Dimon in March. Zach Butterworth, who led private sector engagement for the White House and is currently a Lafayette Advisor, reportedly said, &#8220;Her team is smart to acknowledge there's a buildup of pressure in parts of the business community and it's worth talking to them. She knows they're an important voice.&#8221;
There are conflicting views regarding Harris&#8217; stance on anti-trust policy. While left-wingers within the party have called upon her to stand behind Federal Trade Commission&#8217;s Lina Khan, the vice president&#8217;s ties with tech executives could sway her toward a more lenient approach, it added. As recently as this week, rumors abound about search giant Alphabet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) being on the brink of being broken up amid FTC&#8217;s crusade against it due to its search dominance.
Harris&#8217; stances on cryptocurrencies will also be in the spotlight, given the current misgivings of the industry toward SEC Chair Gary Gensler&#8217;s tough position. 
The vice president has already made it clear she is for the elimination of taxes on tips &#8211; a <a href="https://www.benzinga.com/news/24/06/39244008/trump-pitches-plan-to-scrap-tax-on-tips-in-nevada-rally-culinary-union-responds-wild-campaign-promis">stance Trump also shares. </a>
Harris&#8217; campaign did a flip-flop on fracking, suggesting that the vice president is not against a total ban on it. Her team has also hinted at going back on banning cash bail, which facilitates the release of criminals by setting very low bail amounts, as well as healthcare, immigration and gun control, ABC News<a href="https://abcnews.go.com/US/wireStory/marijuana-death-penalty-fracking-common-harris-shifted-positions-112884794"> said.</a>
The SPDR S&amp;P Homebuilders ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XHB#NYSE">XHB</a>) climbed 1.79% to $110.97 on Thursday, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a> The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which ended Thursday&#8217;s session up 1.71% at $553.07, rose 0.17% in premarket trading on Friday.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40410895/anthony-scaramucci-says-kamala-harris-poll-numbers-are-driving-market-higher-predicts-ro">Anthony Scaramucci Says Kamala Harris&#8217; Poll Numbers Are Driving Market Higher, Predicts &#8216;Rough 81 Days&#8217; Ahead For Trump</a></li>
</ul>
Image Via Shutterstock

Markets

GOOG

GOOGL

Ahead Of Kamala Harris' First Economic Policy Speech In North Carolina, Campaign Provides Sneak-Peek: Focus On Perking Up Residential Construction And Food, Grocery Price Hike Ban

<ul>
<li>The Company expects total production of 5.0 Green Lithium in 3Q 24 of 60,000t</li>
</ul>
 &nbsp;

Guidance

SGML

Sigma Lithium Expects To Produce 60,000t Of 5.0 Green Lithium In Q3

Earnings

Earnings Misses

Sigma Lithium Q2 2024 GAAP EPS C$0.13 Misses C$0.20 Estimate, Sales C$62.857M Miss C$93.394M Estimate

Outlook
For the third quarter of 2024, Sunlands currently expects net revenues to be between RMB490 million to RMB510 million, which would represent a decrease of 2.8% to 6.6% year-over-year.

Sunlands Technology Expects Q3 Net Revenue Of RMB490M-RMB510M

Renowned economist Peter Schiff underlined Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) decoupling from risky assets as the leading currency recorded a sharp decline while stocks surged.
What Happened: Schiff took to X on Thursday to comment on the sudden collapse of Bitcoin, which fell over 5% in a short period. The drop coincided with a stock market rally that saw the S&amp;P 500 closing 1.61% higher at 5,543.22 and the tech-heavy Nasdaq Composite surging 2.34% to end at 17,594.50.
Schiff contrasted Bitcoin&#8217;s fall with that of gold, which recovered from a morning pullback to record gains. He noted that gold&#8217;s gains could have been higher had investors not misinterpreted the day&#8217;s data.
<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"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> really diverged from other risk assets today and collapsed by over 5% in under two hours. <a href="https://twitter.com/hashtag/Gold?src=hash&amp;ref_src=twsrc%5Etfw">#Gold</a> also reversed today, but in the other direction, turning a morning loss into a gain. Gold&#39;s rise would have been much greater had investors not misinterpreted today&#39;s data.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1824190590189179301?ref_src=twsrc%5Etfw">August 15, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40385566/mark-cuban-gets-an-assurance-out-of-chuck-schumer-will-pass-sensible-and-long-lasting-cryp?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Gets An Assurance Out Of Chuck Schumer: Will Pass &#8216;Sensible And Long-Lasting&#8217; Crypto Law By Year-End</a>
In reality, Bitcoin has become more correlated with stocks over the past month. Its 30-day Pearson correlation coefficient with the S&amp;P 500 rose to 0.30, according to The Block, up from -0.81 during the same time last month.
Note that the correlation coefficient is used to determine how strong a connection is between two variables. A positive number indicates that both variables will move in the same direction, i.e., if stocks rise, Bitcoin will rise, and vice versa. A negative correlation suggests otherwise.
Similarly, King Crypto became more coupled to the Nasdaq Composite, with the coefficient between the two rising to 0.13, up from -0.83 a month ago.
Why It Matters: Schiff&#8217;s comments come amidst a turbulent period for Bitcoin. Just a week prior, he had <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40169225/peter-schiff-thinks-bitcoin-will-never-be-a-reserve-asset-but-others-see-the-drop-as-a-tes">dismissed Bitcoin as a possible reserve asset </a>following an 18% weekly drop. He argued that a reserve asset should have characteristics like relatively low volatility, the capacity to be readily sold when needed, and a more stable value than assets it's supposed to hedge. 
The remarks were in response to former President Donald Trump-led Republican Party&#8217;s <a href="https://www.benzinga.com/top-s">poll plank to make Bitcoin a strategic reserve asset</a>.
Schiff has been criticized for coming up with small timeframe windows to highlight Bitcoin's weaknesses and <a href="https://www.benzinga.com/24/07/39807838/peter-schiff-downplays-bitcoin-hypes-golds-rise-wake-up-and-smell-the-bear-market">make conclusions about King Crypto&#8217;s potential</a>.
On his part, Schiff maintains that <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40305550/bitcoin-skeptic-peter-schiff-says-he-is-open-minded-but-hasnt-seen-any-convincing-argument">he is open-minded about Bitcoin but has yet to hear a compelling argument</a> that would change his stance. 
Price Action: At the time of writing, Bitcoin was exchanging hands at $58,439.75, rising 0.75% in the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40399008/mstx-becomes-first-single-stock-leveraged-etf-for-microstrategy-stock-offers-175-exposure">MSTX Becomes First Single-Stock Leveraged ETF For MicroStrategy Stock, Offers 175% Exposure</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

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

Cryptocurrency

$BTC

Peter Schiff Highlights Bitcoin's Break From Risk Assets: Does This Data Concur With Him?

Sunlands Technology Q2 EPS $1.65 Down From $1.73 YoY, Sales $67.73M Down From $72.59M YoY

Paul Christopher, the head of global investment strategy at Wells Fargo, has projected a significant upswing in the stock market, comparable to the boom seen in 1995.
What Happened: Christopher&#8217;s forecast draws on similarities between the current market conditions and those of 1995, a year that saw the S&amp;P 500 reach 77 all-time highs. He suggests that the combination of falling inflation and a stable economy, supported by the Commerce Department&#8217;s estimate of a 2.8% year-over-year GDP growth in Q2, could create a similar market climate, Business Insider <a href="https://www.businessinsider.com/stock-market-outlook-fed-rate-cuts-bull-market-economy-inflation-2024-8">reported</a> on Friday.
Christopher&#8217;s prediction is largely dependent on the Federal Reserve&#8217;s proactive approach. He expects a 50-basis-point rate cut in September, with additional cuts by the end of the year. He believes these steps could facilitate a soft landing for the economy.
Since the Fed began increasing interest rates in March 2022 to control inflation, the market has been closely monitoring potential rate cuts. Nevertheless, inflation has significantly decreased from its peak in the summer of 2022, with the Bureau of Labor Statistics reporting a 2.9% year-over-year increase in July.
See Also: <a href="https://www.benzinga.com/markets/equities/24/08/40330107/donald-trump-says-elon-musk-has-not-been-feeling-so-well-lately-sparking-speculation-heres-what-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump Says Elon Musk Has Not Been &#8216;Feeling So Well Lately,&#8217; Sparking Speculation: Here&#8217;s What Tesla CEO Replied</a>
Despite anticipating more market volatility due to geopolitical tensions and the presidential election, Christopher sees potential for significant investor gains, particularly if the Fed eases policy appropriately. He also suggests that lower short-term interest rates could especially benefit financial and tech stocks.
Why It Matters: Investors are taking a cautious approach despite a potential <a href="https://www.benzinga.com/news/earnings/24/08/40391260/s-p-500-eyes-6th-straight-win-but-investor-sentiment-remains-cautious-ahead-of-data-deluge-walmart-">six-session winning streak </a>for the S&amp;P 500. Key data on the job market, consumer spending, and manufacturing activity could influence the trading direction.
Furthermore, the Russell 2000 is poised for its <a href="https://www.benzinga.com/markets/equities/24/08/40401329/russell-2000-set-for-strongest-session-in-a-month-as-us-economy-defies-recession-fears-small-cap">strongest session in a month,</a> driven by renewed confidence in the U.S. economy&#8217;s resilience after recession fears unsettled markets earlier this month.
Lastly, <a href="https://www.benzinga.com/economics/macro-economic-events/24/08/40393687/retail-sales-soar-in-july-weekly-jobless-claims-undercut-expectations-traders-lea">July&#8217;s retail sales soared</a> by 1% month-over-month, significantly exceeding expectations, while initial jobless claims for the previous week were lower than anticipated, easing labor market concerns.
Price Action: On Thursday, the&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the S&amp;P 500, closed 1.71% higher while the Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) closed 2.53% higher, according to <a href="https://pro.benzinga.com">Benzinga Pro.</a>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40385886/trump-era-white-house-official-anthony-scaramucci-says-industry-leaders-want-bipartisan-co?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump-Era White House Official Anthony Scaramucci Says Industry Leaders Want Bipartisan Commitment On Crypto Regulation: &#8216;We Don&#8217;t Want To Fight Any Side&#8217;</a></li>
</ul>
Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Analyst Color

General

US Stocks In Line For Boom Like 1995 As Soft Landing Appears On The Horizon, Says Expert

Maryland has introduced a new <a href="https://www.benzinga.com/news/23/04/31626694/buying-a-tesla-rivian-or-ford-ev-find-out-if-they-qualify-for-federal-tax-credits">rebate program</a> to encourage the installation of electric vehicle (EV) chargers, offering up to $5,000 per charger.
What Happened: Maryland has launched its FY25 Electric Vehicle Supply Equipment Rebate Program, providing significant incentives for residents and businesses to install EV chargers.
The program offers rebates for the purchase and installation of eligible EV chargers at homes and businesses. Rebates are issued on a first-come, first-served basis, with limited funding available.
Applicants are reimbursed for expenses incurred post-project completion.
See Also: <a href="https://www.benzinga.com/news/24/08/40306075/tesla-cybertruck-lead-engineer-confirms-rear-wheel-drive-variant-of-stainless-steel-truck-has-not-be?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Cybertruck Lead Engineer Confirms Rear-Wheel Drive Variant Of Stainless Steel Truck Has Not Been Canceled</a>
Maryland Energy Administration director Paul G. Pinsky stated, "By increasing the number of charging stations across the state, this program is reducing reliance on fossil fuels, improving air quality, and creating a cleaner, healthier environment for future generations."
Applications can be submitted electronically or by mail. Residential applicants can request a secure email link to submit their application. Complete applications with required documentation must be received within six months of project completion.
Detailed application instructions are available on the FY25 EVSE Rebate Program website. The Maryland Energy Administration advises reading the Funding Opportunity Announcement thoroughly before applying.
<h3 class="wp-block-heading">The Incentives</h3>
<ul>
<li>Residential installations: Up to 50% of installation costs, capped at $700 per charger per resident.</li>
<li>Commercial Installations: Up to 50% of installation costs, capped at $5,000 per charger. Each application is limited to a rebate of $125,000 in FY25.</li>
</ul>
Eligible installation costs include charger equipment, labor, and permits. Maintenance costs, taxes, shipping, credit card charges, and electricity are not eligible.
The project must be located in Maryland and safety certified. It must be new and should be installed by a licensed electrician.
<h3 class="wp-block-heading">How To Apply</h3>
Eligible users can apply for Maryland's EV charger rebate online as well as by mail.
The Maryland Energy Administration has detailed instructions on this process on <a href="https://energy.maryland.gov/transportation/pages/incentives_evserebate.aspx">its</a> website.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40277885/tesla-offers-3-years-of-fsd-premium-connectivity-and-free-supercharging-for-5-000-but-is-it-worth-it" target="_blank" rel="noreferrer noopener">Tesla Offers 3 Years Of FSD, Premium Connectivity, And Free Supercharging For $5,000, But Is It Worth It?</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Unsplash

Government

Maryland Opens Up EV Charger Rebate Program, Offering Incentives Of Up To $5K Per Charger: Here's How To Apply

Madison Square Garden Entertainment Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSGE#NYSE">MSGE</a>) is expected to release earnings results for its fiscal fourth quarter, before the<a href="https://www.benzinga.com/quote/MSGE/earnings"> opening bell on Friday, Aug. 16.</a>
Analysts expect the New York-based company to report a quarterly loss at 52 cents per share, versus a year-ago loss of 47 cents per share. Madison Square Garden Entertainment is projected to report quarterly revenue of $169.61 million, compared to $147.94 million a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a>
On May 10, Madison Square Garden Entertainment said third-quarter revenue rose 13% year-over-year to $228.3 million, beating the analyst consensus of $227.6 million.
Madison Square Garden Entertainment shares gained 2.4% to close at $38.66 on Thursday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/MSGE/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5a281c52adcfa70001367bf2/david-karnovsky">JP Morgan analyst David Karnovsky </a>maintained a Neutral rating and cut the price target from $38 to $36 on Nov. 8, 2023. This analyst has an accuracy rate of 66%.</li>
<li>Morgan Stanley analyst Benjamin Swinburne maintained an Equal-Weight rating and slashed the price target from $40 to $36 on Sept. 1, 2023. This analyst has an accuracy rate of 76%.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5e4d2942ece4e600011f27af/curry-baker">Guggenheim analyst Curry Baker </a>maintained a Buy rating and boosted the price target from $41 to $43 on Aug. 23, 2023. This analyst has an accuracy rate of 60%.</li>
<li>B of A Securities analyst Peter Henderson initiated coverage on the stock with a Buy rating and a price target of $41 on Aug. 22, 2023. This analyst has an accuracy rate of 65%.</li>
</ul>
Considering buying MSGE stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="562" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/16012657/image-1-43-1024x562.png" alt="" class="wp-image-498058" style="width:572px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/16012657/image-1-43-1024x562.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/16012657/image-1-43-300x165.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/16012657/image-1-43-768x421.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/16012657/image-1-43.png 1212w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read This Next: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40394036/jim-cramer-recommends-buying-clorox-ceo-has-done-remarkable-job">Jim Cramer Recommends Buying Clorox: &#8216;CEO Has Done Remarkable Job&#8217;</a></li>
</ul>

Trading Ideas

MSGE

Madison Square Garden Gears Up For Q4 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Kim Dotcom, the founder of the once-popular file-sharing website Megaupload, lost his 12-year battle against extradition from New Zealand to the U.S. After the ruling, Dotcom compared his situation to former President Donald Trump. Dotcom said Trump and he share a common experience of persecution by the Department of Justice (DOJ) under President Joe Biden.
What Happened: Dotcom is facing charges in the U.S. for copyright infringement, money laundering, and racketeering. The announcement of his surrender to the U.S. for trial was made on Friday by New Zealand&#8217;s Justice Minister, Paul Goldsmith. This marks a significant milestone in this long-standing legal battle. However, the date for the extradition has not been set yet, AP News<a href="https://apnews.com/article/kim-dotcom-extradition-megaupload-us-zealand-goldsmith-134eea926502d4965af68fd7701f33f3"> reported</a> on Friday. 
Despite this setback, Dotcom remains defiant. His legal team is preparing for a judicial review, where a New Zealand judge will evaluate Goldsmith&#8217;s decision.
In a post on X on Friday, Dotcom alleged that the DOJ has been unjustly targeting him and Trump.
&#8220;Trump and I have one thing in common: We have both been persecuted by Joe Biden's corrupt DOJ puppets. In my case Biden appointed his personal lawyer as a DOJ prosecutor to bring a novel criminal copyright case against me for his Hollywood donors,&#8221; he wrote while attaching the white paper of the case.
Benzinga could not independently verify Dotcom&#8217;s claims about the lawyers Ira Rothken and Robert Amsterdam.
The White House did not immediately respond to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga's</a> request for comment.
<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">Trump and I have one thing in common: We have both been persecuted by Joe Biden's corrupt DOJ puppets. In my case Biden appointed his personal lawyer as a DOJ prosecutor to bring a novel criminal copyright case against me for his Hollywood donors. Details: <a href="https://t.co/3X6XEAt6ni">https://t.co/3X6XEAt6ni</a>
&mdash; Kim Dotcom (@KimDotcom) <a href="https://twitter.com/KimDotcom/status/1824213059872886845?ref_src=twsrc%5Etfw">August 15, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/news/24/08/40329136/kamala-harriss-campaign-slams-elon-musks-interview-with-ex-president-he-is-using-his-purchased-platf?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kamala Harris&#8217;s Campaign Slams Elon Musk&#8217;s Interview With Ex-President: &#8216;He Is Using His Purchased Platform &#8230; To Spread Trump&#8217;s Unhinged And Hateful Agenda&#8217;</a>
Why It Matters: Dotcom, the founder of the now-defunct file-sharing site Megaupload, has been embroiled in a lengthy legal battle over copyright infringement allegations. 
The Finnish-German millionaire and his legal team have argued that it was the users of the site, not its founders, who chose to pirate material. However, prosecutors have painted a different picture, describing the men as the architects of a vast criminal enterprise. The Department of Justice has called it the largest criminal copyright case in U.S. history.
Two of Dotcom&#8217;s former business partners, Mathias Ortmann and Bram van der Kolk, pleaded guilty to charges against them in a New Zealand court in June 2023 and were sentenced to two and a half years in jail. In exchange, U.S. efforts to extradite them were dropped.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments.&nbsp;<a href="https://www.benzinga.com/gov-trades" target="_blank" rel="noreferrer noopener">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Image by William Stadtwald Demchick via Wikimedia Commons
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Megaupload Founder Kim Dotcom Compares Himself With Trump After Losing Extradition Battle To US: 'We Have Both Been Persecuted By Joe Biden's Corrupt DOJ Puppets'

PropertyGuru Group Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGRU#NYSE">PGRU</a>) ("PropertyGuru" or the "Company"), Southeast Asia's leading1 property technology ("PropTech") company, today announced that it has entered into an agreement and plan of merger (the "Merger Agreement") with affiliates of BPEA Private Equity Fund VIII Limited ("EQT Private Capital Asia"), part of EQT AB, a purpose-driven global investment organization, pursuant to which the Company will be acquired by EQT Private Capital Asia in an all-cash transaction (the "Merger") that values PropertyGuru at an equity value of approximately USD 1.1 billion. PropertyGuru's Board of Directors, acting upon the recommendation of a special committee (the "Special Committee") of PropertyGuru's Board of Directors, has unanimously approved and resolved to recommend approval of the Merger by PropertyGuru's shareholders. The Special Committee negotiated the terms of the Merger Agreement with assistance of financial and legal advisors.
Under the terms of the Merger Agreement, at the effective time of the Merger, each ordinary share of the Company issued and outstanding immediately prior to the effective time (other than certain excluded shares) will be cancelled and converted automatically into the right to receive an amount in cash equal to USD 6.70 per share, without interest.
The merger consideration represents a 52% premium to PropertyGuru's closing share price on May 21, 2024, the last unaffected trading day prior to media speculation regarding a potential transaction, and a 75% and 86% premium to the Company's 30-day and 90-day volume-weighted average share price, respectively, for the period ending May 21, 2024.
Major shareholders, TPG Asia VI SF Pte. Ltd. and TPG Asia VI SPV GP LLC, in its capacity as general partner of TPG Asia VI Digs 1 L.P. (collectively, "TPG") and Epsilon Asia Holdings II Pte. Ltd., an entity managed by global investment fund KKR ("KKR"), which hold a combined 56% ownership of ordinary shares outstanding, have entered into voting and support agreements with the Company and EQT Private Capital Asia in support of the Merger.
Transaction Details
The transaction is expected to close in Q4 2024 or Q1 2025, subject to customary closing conditions, including approval by PropertyGuru's shareholders and receipt of regulatory approvals. The transaction is not subject to a financing condition.
Upon completion of the transaction, PropertyGuru's shares will no longer trade on the New York Stock Exchange, and PropertyGuru will become a private company. PropertyGuru's headquarters will remain in Singapore.

PGRU

PropertyGuru to Be Acquired by EQT Private Capital in $1.1B All-Cash Deal, Will Stop Trading on NYSE

The restructuring of Elliott Management has led to a significant exodus of its senior employees, with at least nine former staffers launching their funds since 2021.
Why It Matters: The changes at Elliott Management have led to the firm&#8217;s ex-employees opting to start their funds. This development is indicative of the broader trend of institutionalization within the hedge-fund industry, as the largest firms are emulating their private equity counterparts, <a href="https://www.businessinsider.com/why-elliott-alums-are-launching-their-own-funds-2024-8">reported</a> Business Insider on Friday, citing sources.
This shift has been attributed to the firm&#8217;s increasing bureaucracy, which has altered the once flexible and merit-driven environment. The changes have prompted some long-time investors to seek more freedom by starting their firms.
This shift has prompted some veteran investors to venture out on their own. &#8220;The changes haven&#8217;t been in place for that long, but the firm is different now,&#8221; said a former investor, according to the report. &#8220;It&#8217;s rigid.&#8221;
These changes at Elliott have been attributed to the establishment of an investment committee in 2020. This committee, comprising young partners Jesse Cohn, Gordon Singer, and Jonathan Pollock, has transformed the firm into a more structured but also bureaucratic and political environment, according to the report.
As a result of these changes, several former and current employees have noted a shift in the firm&#8217;s culture, leading to a more rigid and less merit-driven environment.
These changes have been particularly impactful given Elliott&#8217;s reputation as a unique and flexible workplace. The departure of key talent and the subsequent launch of their funds is a significant development in the hedge-fund industry.
For instance, Mark Wills, the founder of Cisu Capital Partners, is the latest Elliott alum to start his firm. Wills, who spent over a decade at Elliott, is part of a growing cohort of ex-Elliott employees who have launched their funds with different strategies, backers, and philosophies.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40402896/donald-trump-now-10-points-behind-vice-president-kamala-harris-in-the-election-odds-predic?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump Now 10 Points Behind Vice President Kamala Harris In The Election Odds, Prediction Market Data Shows</a>
These changes have also led to the departure of senior talent to various leadership positions across industries. For example, Sebastien de La Riviere, a former portfolio manager at Elliott, is now the co-founder and chief investment officer of A5 Capital, the family office of Alex Algard, the founder of Whitepages.
Despite the exodus of long-tenured portfolio managers, Elliott&#8217;s investment headcount has grown alongside its assets. The firm reported a 27% increase in its investment headcount from the end of 2020 to May 2024, coinciding with a rise in assets from just over $45 billion to $69.7 billion.
However, several former employees argue that the additional people brought in are not in line with the firm&#8217;s previous mold. &#8220;For every cowboy investor they lost, they gained three bureaucrats,&#8221; said a former investor, according to the report.
Elliott did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
Why It Matters: The evolution of Elliott has broader implications for the hedge fund industry. The firm&#8217;s recent activities highlight its ongoing influence. For instance, <a href="https://www.benzinga.com/news/24/08/40404117/arm-holdings-shares-surge-after-elliott-management-increases-position">Elliott increased its position</a> in ARM Holdings, signaling strong institutional confidence and driving ARM&#8217;s shares higher.
Additionally, Elliott has <a href="https://www.benzinga.com/trading-ideas/24/08/40402011/elliott-management-raises-stakes-on-online-dating-e-commerce-airline-bets-what-investors-should-kno">raised stakes in various sectors</a>, including online dating, e-commerce, and airlines. The firm has targeted companies like Match Group Inc. and American Airlines Group Inc., indicating a strategic diversification of its portfolio.
Elliott has also <a href="https://www.benzinga.com/markets/equities/24/06/39244142/elliott-management-reportedly-builds-2b-stake-in-southwest-airlines-plans-to-push-for-change">leveraged its $2 billion stake</a> in Southwest Airlines to nominate ten independent candidates for Southwest&#8217;s Board, aiming to drive significant changes within the airline.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40329136/kamala-harriss-campaign-slams-elon-musks-interview-with-ex-president-he-is-using-his-purchased-platf?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kamala Harris&#8217;s Campaign Slams Elon Musk&#8217;s Interview With Ex-President: &#8216;He Is Using His Purchased Platform &#8230; To Spread Trump&#8217;s Unhinged And Hateful Agenda&#8217;</a></li>
</ul>
Image created using artificial intelligence via MidJourney.
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Hedge Funds

Elliott Management Alums Spawn Their Offshoots Amid 'Rigid' Changes And Increased Bureaucracy At $70B Hedge Fund: Report

Generation Income (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GIPR#NASDAQ">GIPR</a>) reported quarterly earnings of $0.03 per share which beat the analyst consensus estimate of $0.02 by 50 percent. The company reported quarterly sales of $2.259 million which beat the analyst consensus estimate of $2.250 million by 0.40 percent. This is a 69.98 percent increase over sales of $1.329 million the same period last year.

Earnings Beats

GIPR

Generation Income Q2 2024 FFO $0.03 Beats $0.02 Estimate, Sales $2.259M Beat $2.250M Estimate

<ul>
<li>Net income per common share on fully diluted basis was $0.21, including $0.08 of gain on redemption of preferred shares, compared to $0.10 for the prior year. Net income per common share on basic basis was $0.57, including $0.23 gain on redemption of preferred shares, compared to $0.32 for the prior year.</li>
<li>Consolidated net sales (revenue) increased 17% to a record $27.5 million compared to $23.5 million in the prior year primarily due to the increase in marketing and sales initiatives in our hearing protection and enhancement segment.&nbsp;</li>
</ul>

The Only Monthly Membership With a Positive ROI!

-

-

-

-

-

-

-

The Only Monthly Membership With a Positive ROI!

-

-

-

-

-

-

-

Comments

Trust for Professional Managers Jensen Quality Growth ETF

News

Latest news for Trust for Professional Managers Jensen Quality Growth ETF (ARCA:JGRW)