Keen Vision Acquisition Stock (NASDAQ: KVACU)

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Keen Vision Acquisition Corp is a blank check company.

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Keen Vision Acquisition Corp

Over the centuries, Olympics traditions linking sports and culture include the torch relay, the Olympic flame that's always lit, the Parade of Nations and the release of birds of peace, which dates back to the revived Olympics in 1896.
Who can forget one of the most stirring moments in Olympic history when Muhammad Ali lit the Olympic Torch at the 1996 Centennial Olympic Games&nbsp;in Atlanta Georgia?
Jumping ahead to the <a href="https://drupal-cloudfront.benzinga.com/topic/2024-paris-olympics">2024 Paris Olympics</a>, we've got another tradition taking the games by storm: pin trading.
Pin trading reportedly dates back to the 1896 Games in Athens when they were made out of cardboard and used to identify athletes and media — kind of like name tags.
The tradition has gone viral on TikTok this year so you know what that means.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/40001496/snoop-dogg-steals-the-show-at-paris-olympics-dances-with-torch-cheers-on-us-swimmers-who-take-fi">Snoop Dogg Steals The Show At Paris Olympics: Dances With Torch, Cheers On US Swimmers Who Take First Gold Medal</a>
<h1 class="wp-block-heading">Simone Biles Makes History: Pin-Trading Frenzy Expected</h1>
Some of the biggest celebrities in Paris have gotten in on the action this year, including <a href="https://www.benzinga.com/markets/cannabis/24/07/40001496/snoop-dogg-steals-the-show-at-paris-olympics-dances-with-torch-cheers-on-us-swimmers-who-take-fi">Snoop Dogg</a> and<a href="https://drupal-cloudfront.benzinga.com/topic/simon-biles"> Simone Biles</a> who made history Thursday by winning the gold in the individual all-around final, avid pin collectors are doubtless searching for their very own Biles pin, which feature her signature inside of a heart. Snoop <a href="https://www.benzinga.com/markets/cannabis/24/01/36502082/snoop-dogg-elevates-olympic-spirit-as-nbcs-paris-2024-correspondent-will-he-smoke-the-competitio">is part of NBCUniversal's coverage</a> of the Olympic Games.
Even Coco Gauff&nbsp;who lost Tuesday after getting into a tiff with an umpire, says her favorite pin is the one Snoop Dogg himself gave her, which features Snoop blowing smoke rings in the shape of the Olympics rings.
<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">Coco Gauff&#39;s got the <a href="https://twitter.com/SnoopDogg?ref_src=twsrc%5Etfw">@SnoopDogg</a> <a href="https://twitter.com/hashtag/Olympics?src=hash&amp;ref_src=twsrc%5Etfw">#Olympics</a> pin &#x1f929;<a href="https://twitter.com/hashtag/Paris2024?src=hash&amp;ref_src=twsrc%5Etfw">#Paris2024</a> &#x7C; <a href="https://twitter.com/hashtag/tennis?src=hash&amp;ref_src=twsrc%5Etfw">#tennis</a> <a href="https://t.co/W6zRDFoeae">pic.twitter.com/W6zRDFoeae</a>
&mdash; ITF (@ITFTennis) <a href="https://twitter.com/ITFTennis/status/1818017593510477995?ref_src=twsrc%5Etfw">July 29, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
"Hey Mr. Snoop, thank you for this pin. This pin is the best pin that I've ever gotten. And I hope to see you at US Open, or maybe I hear you may come Wednesday, to come watch us play again. So, thank you for the pin, and I'll see you at the next one,&#8221; Gauffs said in a video.
Read Now:
<ul>
<li><a href="https://www.benzinga.com/real-estate/24/08/40109271/lebron-james-eyes-olympic-gold-while-building-a-100-million-real-estate-empire">LeBron James Eyes Olympic Gold While Building A $100 Million Real Estate Empire</a></li>
</ul>
Photo: Courtesy of Olympic Committee

Cannabis

Entertainment

News

Sports

Global

Simone Biles Makes History In Paris, Snoop Dogg-Led Olympic Pin-Trading Frenzy Expected

Business Outlook "Our new programs with our flash maker customers are expected to further scale throughout this year as the move to increase outsourcing continues to build the foundation for the long-term revenue and profitability growth of our business," said Wallace Kou, President and CEO of Silicon Motion. "Our highly differentiated controller solutions for PCs and smartphones deliver high performance, higher density and lower cost solid state storage to enable cutting edge applications such as AI-at-the-edge. Despite the softness in the retail SSD market that is evident across the industry, we are confident that we can achieve our previous full-year outlook based on the ongoing strength of our growing NAND OEM business."
For the third quarter of 2024, management expects:
<figure class="table"> 
<table>
<tbody>
<tr>
<td>($ in millions)</td>
<td>GAAP</td>
<td>Non-GAAP Adjustment</td>
<td>Non-GAAP</td>
</tr>
<tr>
<td>Revenue</td>
<td>$205 to $216 &nbsp;-2.5% to +2.5% Q/Q +19% to 25% Y/Y</td>
<td>--</td>
<td>$205 to $216 &nbsp;-2.5% to +2.5% Q/Q +19% to 25% Y/Y</td>
</tr>
<tr>
<td>Gross margin</td>
<td>46.0% to 47.0%</td>
<td>Approximately $0.1&#x2A;</td>
<td>46.0% to 47.0%</td>
</tr>
<tr>
<td>Operating margin</td>
<td>10.7% to 12.3%</td>
<td>Approximately $6.4 to $7.4&#x2A;&#x2A;</td>
<td>14.3% to 15.3%</td>
</tr>
</tbody>
</table>
</figure>
&#x2A; Projected gross margin (non-GAAP) excludes $0.1 million of stock-based compensation. &#x2A;&#x2A; Projected operating margin (non-GAAP) excludes $6.4 million to $7.4 million of stock-based compensation and dispute related expenses.
For the full year 2024, management expects:
<figure class="table"> 
<table>
<tbody>
<tr>
<td>($ in millions)</td>
<td>GAAP</td>
<td>Non-GAAP Adjustment</td>
<td>Non-GAAP</td>
</tr>
<tr>
<td>Revenue</td>
<td>$800 to $830 +25% to 30% Y/Y</td>
<td>--</td>
<td>$800 to $830 +25% to 30% Y/Y</td>
</tr>
<tr>
<td>Gross margin</td>
<td>45.9% to 46.9%</td>
<td>Approximately $0.6&#x2A;</td>
<td>46.0% to 47.0%</td>
</tr>
<tr>
<td>Operating margin</td>
<td>10.9% to 13.3%</td>
<td>Approximately $29.0 to $31.0&#x2A;&#x2A;</td>
<td>14.8% to 16.8%</td>
</tr>
</tbody>
</table>
</figure>
&#x2A; Projected gross margin (non-GAAP) excludes $0.6 million of stock-based compensation and restructuring charge. &#x2A;&#x2A; Projected operating margin (non-GAAP) excludes $29.0 million to $31.0 million of stock-based compensation, dispute related expenses, restructuring charge and loss from settlement of litigation.

Guidance

SIMO

Silicon Motion Technology Sees Q3 Revenue $205M-$216M Vs $212.62M Est.; FY24 Revenue $800M-$830M Vs $822.67M Est.

Silicon Motion Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIMO#NASDAQ">SIMO</a>) reported quarterly earnings of $0.96 per share which beat the analyst consensus estimate of $0.95 by 1.05 percent. The company reported quarterly sales of $210.670 million which beat the analyst consensus estimate of $206.746 million by 1.90 percent. This is a 50.09 percent increase over sales of $140.361 million the same period last year.

Earnings

Earnings Beats

Silicon Motion Technology Q2 2024 Adj. EPS $0.96 Beats $0.95 Estimate, Sales $210.670M Beat $206.746M Estimate

Alliant Energy Reaffirms FY24 EPS Guidance Of $2.99 - $3.13, Est $3.06

Alliant Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LNT#NASDAQ">LNT</a>) reported quarterly earnings of $0.57 per share which missed the analyst consensus estimate of $0.64 by 10.94 percent. This is a 10.94 percent decrease over earnings of $0.64 per share from the same period last year. The company reported quarterly sales of $894.000 million which missed the analyst consensus estimate of $896.800 million by 0.31 percent. This is a 1.97 percent decrease over sales of $912.000 million the same period last year.

Earnings Misses

Alliant Energy Q2 2024 Adj. EPS $0.57 Misses $0.64 Estimate, Sales $894.000M Miss $896.800M Estimate

Neal Lux, President and Chief Executive Officer, remarked, "Revenue and adjusted EBITDA both came within our guidance range, and adjusted EBITDA margins held steady at approximately 13%. We delivered robust free cash in the quarter of $21 million and announced the redemption and repurchase of $73 million of our 2025 Notes. Following our strong first half results, we are raising our full year 2024 free cash flow guidance to between $50 and $70 million. We are committed to retiring the outstanding balance of our 2025 Notes and the Variperm Seller Term Loan around the middle of 2025.
"Canadian and international market outlook remains in line with our expectations. U.S. rig count and hydraulic fracturing activity trended down during the second quarter and are expected to continue their decline in the second half. For the year, we now expect U.S. rig count to be down 15%. This represents a greater decline compared with our initial expectation of a 5% decrease. However, our international footprint, the Variperm acquisition, and benefits from our "beat-the-market" strategy should mitigate this U.S. industry softness. Therefore, we are maintaining the bottom end of our guidance, but adjusting down the top end by $10 million. Our full year 2024 adjusted EBITDA guidance is now $100 to $110 million."

Forum Energy Technologies Raising FY24 Free Cash Flow Guidance $50M-$70M; Adjusted EBITDA Guidance $100M-110M

Forum Energy Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FET#NYSE">FET</a>) reported quarterly losses of $(0.07) per share which missed the analyst consensus estimate of $0.04 by 275 percent. The company reported quarterly sales of $205.200 million which missed the analyst consensus estimate of $209.100 million by 1.87 percent. This is a 10.68 percent increase over sales of $185.400 million the same period last year.

Forum Energy Technologies Q2 2024 Adj. EPS $(0.07) Misses $0.04 Estimate, Sales $205.200M Miss $209.100M Estimate

Clorox Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>) shares are up after the company reported its second-quarter financial results Thursday. Here's a look at the <a href="https://www.benzinga.com/pressreleases/24/08/n40114127/clorox-reports-q4-and-fy24-results-provides-fy25-outlook">key figures from the report. </a>
The Details: Clorox reported quarterly earnings of $1.82 per share which beat the analyst consensus estimate of $1.56 by 16.67%. Quarterly sales clocked in at $1.903 billion, missing the analyst consensus estimate by 2.46% and representing a 5.75% decrease from the same period last year. 
Clorox said the net sales decreased was driven largely by the impacts of the Argentina divestiture, unfavorable price mix and lower volume.
Read Also: <a href="https://www.benzinga.com/news/earnings/24/08/40105885/ferrari-shares-race-higher-on-strong-q2-results">Ferrari Shares Race Higher On Strong Q2 Results</a>
&#8220;We closed out the fiscal year with strong margin expansion and double-digit adjusted EPS growth despite substantial disruption and consumption loss from the cyberattack,&#8221; said Clorox CEO Linda Rendle.
&#8220;While fully restoring supply and distribution, as well as recovering nearly all of our market share, we remained relentless in driving our IGNITE strategy forward. We made strong progress as we evolved our portfolio to accelerate profitable growth, completed the implementation of our streamlined operating model and advanced our digital transformation.&#8221;
Outlook:&nbsp;Clorox sees fiscal year earnings between $6.55 and $6.80 per share, versus the $6.45 estimate.
CLX Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Clorox shares are up 4.37% after-hours at $140 at the time of publication Thursday.
Read Next:
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<li>&nbsp;<a href="https://www.benzinga.com/news/24/08/40112573/the-bear-cave-issues-report-on-taskus-what-to-know">The Bear Cave Issues Report On TaskUs: What To Know</a></li>
</ul>
Image: Gerd Altmann from Pixabay

After-Hours Center

Movers

Clorox Stock Climbs After Q2 Results, Strong Forward Guidance

Opendoor Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) shares are tumbling in <a href="https://www.benzinga.com/pressreleases/24/08/g40113828/opendoor-announces-second-quarter-of-2024-financial-results">Thursday&#8217;s after-hours session</a>.
 The San Francisco-based company reported financial results for the second quarter. Here&#8217;s a rundown of the print.
<ul>
<li>Q2 Revenue: $1.511 billion, versus <a href="https://www.benzinga.com/calendars/earnings">estimates</a> of $1.468 billion</li>
<li>Q2 EPS: Loss of 4 cents, versus estimates of for loss of 11 cents</li>
</ul>
&#8220;We are proud of our&nbsp;second quarter&nbsp;performance and the progress we&#8217;ve made in building a platform where all customers can begin their home selling journey. Revenue, Contribution Margin, and Adjusted EBITDA exceeded the high end of our&nbsp;guidance, and our acquisitions outperformed expectations, growing nearly&nbsp;80%&nbsp;year-over-year,&#8221; said Carrie Wheeler, CEO of Opendoor.
&#8220;During the back half of the second quarter, we began responding to signals that indicated additional slowing in the housing market. We are making decisions that appropriately balance growth, margin, and risk in what continues to be a challenging environment,&#8221; Wheeler added.
See Also: <a href="https://www.benzinga.com/news/earnings/24/08/40116158/doordash-q2-earnings-revenue-beat-eps-miss-total-orders-up-19-results-reflect-years-of-investment-a">DoorDash Q2 Earnings: Revenue Beat, EPS Miss, Total Orders Up 19%, Results Reflect &#8216;Years Of Investment And Product-Level Focus&#8217;</a>
Outlook: Opendoor said it expects third-quarter revenue to be in the range of $1.2 billion to $1.3 billion versus estimates of $1.59 billion, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>. The company anticipates a third-quarter adjusted EBITDA loss of 60 million to 70 million.
Shares appear to be responding negatively to the combination of weak guidance paired with cautious commentary about the housing market. 
OPEN Price Action: Opendoor shares were down 14.6% after hours at $1.82 at the time of publication, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Shutterstock.

WIIM

OPEN

Opendoor Technologies Q2 Earnings: Revenue Beat, EPS Beat, Weak Guidance Due To 'Additional Slowing In Housing Market'

Financial Outlook
For the Full Year 2024, OneSpan expects:
<ul>
<li>Revenue to be in the range of $238 million to $246 million.</li>
<li>ARR to finish the year in the range of $166 million to $170 million, as compared to its previous guidance range of $160 million to $168 million.</li>
<li>Adjusted EBITDAto be in the range of $55 million to $59 million, as compared to its previous guidance range of $51 million to $55 million.3</li>
</ul>

OSPN

OneSpan Sees FY24 Revenue $238M-$246M Vs 251M Estimate

INTC

Intel Exec Says Over 15M Windows AI PCs Shipped Since Launch; Export License Restriction In May Impacted Q2 Client Business In China; Sees Weaker Q3 Spending In Consumer And Enterprise Markets, Especially China; Dependence On External Wafers For AIPC Chip Ramp To Pressure Gross Margins; Transition Of Intel 3, Intel 4 Wafers To Ireland Facility Saved $1B, Will Improve Long-Term Gross Margins; Expects Sequential Growth In Data Center Through H2 As Demand For Traditional Servers Improves

SNAP

Snap Sees Q3 2024 Revenue $1.335B-$1.375B Vs $1.25B Estimate

AMZN

Amazon CEO Says Seeing Lower Selling Prices As Customers Trade Down When Possible; Discretionary, Higher Ticket Items Like Computers And Electronics Growing Faster Than Industry But Slower Than In A Robust Economy; Seller Fees Slightly Lower Than Expected Due To Behavior Changes From Recent Fee Adjustments

PRCT

PROCEPT BioRobotics Sees FY24 Revenue $217M Vs $213.739M Est.

ELME

Elme Communities Sees FY24 Core FFO $0.91-$0.95

Guidance
Affirmed Revenue Guidance and improved Adjusted EBITDA guidance for the Fiscal Year 2024 to:
<ul>
<li>Affirm revenue guidance of $75 million to $80 million or approximately 15-20% growth</li>
<li>Improved adjusted EBITDA guidance by $5 million to a loss of $50 million - $45 million</li>
</ul>

BFLY

Butterfly Network Affirms FY24 Revenue $75M-$80M Vs $76.33M Est.

ALHC

Alignment Healthcare Sees Q3 Revenue $655M-$665M vs $630.25M Est., Sees FY24 Revenue $2.61B-$2.64B vs $2.52B Est.

General

Warrior Met Coal Reaffirms FY24 Capital Expenditures $100M-$110M

Financial Outlook
<ul>
<li>The Company expects revenue in the third quarter of 2024 to be in the range of $84.0 million to $86.0 million.</li>
<li>Non-GAAP EBITDA in the third quarter of 2024 is expected to be between $12.3 million and $13.3 million.</li>
<li>For the third quarter of 2024, we expect our basic share count to be in the 77.0 - 78.0 million range and diluted share count to be in the 79.0 - 80.0 million range.</li>
</ul>
Grid Dynamics is not able, at this time, to provide GAAP targets for net income/(loss) for the third quarter of 2024 because of the difficulty of estimating certain items excluded from Non-GAAP EBITDA that cannot be reasonably predicted, such as interest income, taxes, other income/(expenses), fair-value adjustments, geographic reorganization expenses, restructuring expenses, transaction-related costs and charges related to stock-based compensation expense. The effect of these excluded items may be significant.

GDYN

Grid Dynamics Sees Q3 Revenue $84M-$86M Vs $84.14M Est.

2024 Outlook The Company continues to expect fiscal year 2024 sales to range between $270 million to $280 million. Due to investments seeking to scale the Adventure segment, particularly in North America, Europe and through direct marketing initiatives, the Company now expects adjusted EBITDA of approximately $11 million to $14 million, or an adjusted EBITDA margin of 4.5% at the mid-point of revenue and adjusted EBITDA. In addition, the Company now expects capital expenditures to range between $6 million to $7 million, of which $0.9 million related to Precision Sport prior to disposal, and adjusted free cash flow to range between $7 million to $9 million for the full year 2024, excluding $2.0 million of cash outflow related to Precision Sport prior to disposal.

CLAR

Clarus Sees FY24 Revenue $270M-$280M Vs $278.31M Est.

Offerings

Press Releases

Keen Vision Acquisition Corporation Announces the Separate Trading of its Ordinary Shares and Warrants, Commencing September 15, 2023

KVACU

Keen Vision Acquisition

IPOs

Trading Ideas

Keen Vision Acquisition Corp Units Open For Trade; IPO Priced At $10/Unit

&nbsp;Keen Vision Acquisition Corporation (the &quot;Company&quot;) announced today that it priced its initial public offering of 13,000,000 units at&nbsp;$10.00&nbsp;per unit. The units will be listed on Nasdaq and will begin trading tomorrow,&nbsp;July 25, 2023, under the ticker symbol &quot;KVACU&quot;. Each unit consists of one ordinary share and one redeemable warrant. Each warrant entitles the holder thereof to purchase one ordinary share at a price of&nbsp;$11.50&nbsp;per share. Once the securities comprising the units begin separate trading, the ordinary shares and warrants are expected to be listed on Nasdaq under the symbols &quot;KVAC&quot; and &quot;KVACW&quot;, respectively.

EF Hutton, division of Benchmark Investments, LLC (&quot;EF Hutton&quot;) and Brookline Capital Markets, a division of Arcadia Securities, LLC are acting as joint book-running managers for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 1,950,000 units at the initial public offering price to cover over-allotments, if any. The offering is expected to close on&nbsp;July 27, 2023, subject to customary closing conditions.

The Company is a blank check company incorporated as a&nbsp;British Virgin Islands&nbsp;exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. The Company&#39;s efforts to identify a prospective target business will not be limited to a particular industry or geographic region, although it currently intends to focus on sourcing opportunities that are in biotechnology, consumer goods or agriculture, evaluated based on sustainability and environmental, social, and corporate governance (&quot;ESG&quot;) imperatives. The Company is led by&nbsp;Kenneth Wong, Chairman and Chief Executive Officer, and&nbsp;Alex Davidkhanian, Chief Financial Officer.

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Latest news for Keen Vision Acquisition (NASDAQ:KVACU) Stock

Tuesday, July 25, 2023

Monday, July 24, 2023