Latest news for Meitu (OTC:MEIUY) Stock

Meitu Inc is an investment holding company. It is engaged in the provision of online advertising and other Internet value-added services by offering a portfolio of photo and community apps that enjoys popularity in the PRC and overseas and the smart hardware business involving the production of MeituEve: a commercial artificial intelligence skin analyser, MeituKey: a contact skin analyser, MeituSpa: an artificial intelligence cleansing brush and Meitu Genius: an artificial intelligence smart mirror.

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Chinese tech giant Meitu Inc (OTC: MEIUY) reported a significant impairment loss on its cryptocurrency holdings.

Chinese Tech Giant Suffers $43M Impairment Loss On Bitcoin (BTC), Ethereum (ETH) Holdings

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Hong Kong stocks opened mixed on Friday ahead of the release of the U.S. jobs report that would give more cues on the course and aggression of the U.S. rate hike later this month. The Hang Seng index lost 0.5% in opening trade. Shares of XPeng lose over 3% in the morning session.

Hong Kong Stocks Open Mixed Ahead Of US Jobs Data: Is The Market Ignoring Chengdu Lockdown?

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<img alt="" src="https://thearorareport.com/wp-content/uploads/2024/07/2024-07-23_08h48_24.png" style="height:382px; width:700px" />
To gain an edge, this is what you need to know today.
<h4>Speculative Sentiment</h4>
Note the following:
<ul>
<li>This article&nbsp;is about the big picture, not an individual stock.&nbsp; The chart of TSLA stock is being used to illustrate the point.</li>
<li>Speculative sentiment is one of the major drivers of the stock market.
<ul>
<li>Right now, speculative sentiment is in the very high zone.</li>
<li>The battle of humanoid robots and robotaxis vs. electric vehicles is ahead. The result of the battle will significantly add to or take away from the speculative sentiment.</li>
</ul>
</li>
<li>The chart shows TSLA stock ran up on gamma squeeze.&nbsp; Gamma squeeze is an important Wall Street mechanic.&nbsp; Investors can gain a big edge by learning about Wall Street mechanics.</li>
<li>The chart shows the resistance zone and support zones for TSLA stock.</li>
<li>RSI on the chart shows that TSLA stock is close to being oversold. This makes it easier for TSLA stock to move up.</li>
<li>The battle after Tesla&rsquo;s earnings release will be the major determinant of the stock.&nbsp; Tesla will release earnings after the close today.</li>
<li>Elon Musk has succeeded in getting a portion of Tesla&rsquo;s shareholder base to focus on humanoid robots, robotaxis, and AI.&nbsp; In spite of Musk&rsquo;s success in refocusing the shareholder base, a large portion of Tesla shareholders continue to be focused on the electric vehicle side of the business.</li>
<li>Electric vehicle business continues to be weak and is likely to further weaken.</li>
<li>Musk says that Tesla has humanoid robots in production, and they will be put to work at Tesla next year.
<ul>
<li>Tesla aims to sell humanoid robots to other companies starting in 2026.</li>
</ul>
</li>
<li>Tesla&rsquo;s robotaxi event was postponed from August to October.&nbsp; Expect more pump and mind blowing projections about robotaxis.&nbsp;</li>
<li>After the earnings release, there will be a battle between those who are focused on electric vehicles and those who are focused on humanoid robots and robotaxis.&nbsp; The result of the battle will not only impact TSLA stock but also the overall sentiment of the entire stock market.</li>
<li>Among important earnings, General Motors Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gm#NYSE">GM</a>), General Electric Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ge#NYSE">GE</a>), Coca-Cola Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ko#NYSE">KO</a>), Lockheed Martin Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lmt#NYSE">LMT</a>), SAP SE (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sap#NYSE">SAP</a>), and Spotify Technology SA (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spot#NYSE">SPOT</a>) are reporting better than expected earnings.</li>
<li>United Parcel Service, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ups#NYSE">UPS</a>)&nbsp;and NXP Semiconductors NV&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nxpi#NASDAQ">NXPI</a>) are reporting worse than expected earnings.</li>
<li>About 25% of S&amp;P 500 companies are reporting earnings this week.</li>
<li>The stock market is excited that Kamala Harris has secured enough delegates to clinch the nomination.&nbsp; Expect the excitement to be short lived.</li>
</ul>
<h4>India</h4>
India continues to be one of the best long term opportunities.&nbsp; As full disclosure, India focused fund&nbsp;Fairfax India Holdings Corp&nbsp;(OTCMKTS: FFXDF) is in The Arora Report&#39;s&nbsp;ZYX Buy Model Portfolio.&nbsp; Three India focused ETFs,&nbsp;WisdomTree India Earnings Fund&nbsp;(NYSEARCA: EPI), iShares MSCI India Small-Cap ETF&nbsp;(BATS: <a class="ticker" href="https://www.benzinga.com/stock/smin#BATS">SMIN</a>), and&nbsp;VanEck India Growth Leaders ETF&nbsp;(NYSEARCA: GLIN), are in The Arora Report&#39;s ZYX Emerging Model Portfolio.
The central government budget is always a big event for Indian stocks.&nbsp; The just unveiled budget is great for the long term, but in the short term, investors are spooked due to an increase in capital gains tax.&nbsp; Short term capital gains will have a 20% tax rate, and long term capital gains will have a 12.5% tax rate.
<h4>Magnificent Seven Money Flows</h4>
In the early trade, money flows are positive in Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>).
In the early trade, money flows are neutral in Apple Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>), Amazon.com, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>), Alphabet Inc Class C (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>), Meta Platforms Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>), and Microsoft Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>).
In the early trade, money flows are negative in NVIDIA Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>).
In the early trade, money flows are negative in SPDR S&amp;P 500 ETF Trust (NYSEARCA:SPY) and Invesco QQQ Trust Series 1 (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>).
<h4>Momo Crowd And Smart Money In Stocks</h4>
Investors can gain an edge by knowing money flows in SPY and QQQ. &nbsp;Investors can get a bigger edge by knowing when smart money is buying stocks, gold, and oil. &nbsp;The most popular ETF for gold is SPDR Gold Trust (ARCA:GLD). &nbsp;The most popular ETF for silver is iShares Silver Trust (ARCA:SLV). &nbsp;The most popular ETF for oil is United States Oil ETF (ASCA:USO).
<h4>Bitcoin</h4>
Bitcoin whales are hard at work with a wild Trump rumor aiming to drive Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) to the moon.&nbsp; The rumor is that Trump could create a national bitcoin strategic reserve.&nbsp; Of note is that Trump has apparently invited investors to the much hyped Bitcoin 2024 conference, including a private&nbsp; round table event.&nbsp; Trump is apparently charging $845,000 per person.
<h4>Protection Band And What To Do Now</h4>
It is important for investors to look ahead and not in the rearview mirror.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp; The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp; If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash.&nbsp; A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp; When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp; High beta stocks are the ones that move more than the market.
<h4>Traditional 60/40 Portfolio</h4>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less.&nbsp; Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter-benzinga">Generate Wealth Newsletter</a>.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

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Battle Of Humanoid Robots And Robotaxis Vs. Electric Vehicles, Trump Rumor To Drive Bitcoin To The Moon

By Chris Yoko
Two major&nbsp;carbon&nbsp;offset&nbsp;projects that were supported by California businesses, including Salesforce and Patch Technologies, were<a href="https://news.mongabay.com/2024/05/top-brands-buy-amazon-carbon-credits-from-suspected-timber-laundering-scam/" target="_blank">&nbsp;accused recently of participating in a timber laundering</a>&nbsp;scheme in Brazil &mdash; a fraud that undermines the integrity of the&nbsp;carbon&nbsp;offset&nbsp;industry as a whole.
It&rsquo;s the project proponents that sell these fraudulent&nbsp;offsets&nbsp;that a&nbsp;bill&nbsp;being debated in California&#39;s legislature would crack down on, applying the state&rsquo;s false advertising standards to the wild west market of&nbsp;carbon&nbsp;offsets.
The idea of&nbsp;carbon&nbsp;offsets&nbsp;has drawn scorn and scrutiny over the last few years, as investigations by the&nbsp;<a href="https://www.youtube.com/watch?v=6p8zAbFKpW0" target="_blank">media</a>&nbsp;have uncovered misleading reporting and significant mismanagement of the&nbsp;offset&nbsp;market. Several of the&nbsp;carbon&nbsp;credits that companies and individuals purchased over the years were found to be scams &mdash; funding already existing projects, or selling the same&nbsp;offsets&nbsp;multiple times over.&nbsp;
In the best case scenarios, these&nbsp;offsets&nbsp;had a net-zero impact. In the worst cases, they made the&nbsp;<a href="https://www.theguardian.com/environment/2023/jan/18/revealed-forest-carbon-offsets-biggest-provider-worthless-verra-aoe" target="_blank">climate crisis worse</a>.&nbsp;
It&rsquo;s a tragedy for the&nbsp;carbon&nbsp;offset&nbsp;market, and the environmental community at large; bad actors operating in an unregulated environment were able to take advantage of a system for financial gain. It&rsquo;s an age-old story, but one that still leaves a bad taste in the mouth, like a bad run-in with a dishonest building contractor. It doesn&rsquo;t mean all builders are bad &mdash;&nbsp;but it will be hard to convince you otherwise for quite some time.&nbsp;
California&rsquo;s latest legal action is an attempt to bring some of these&nbsp;offset&nbsp;companies back into regulated territory, holding them accountable for anything the state deems&nbsp;<a href="https://www.schwabe.com/publication/reintroduced-california-bill-would-subject-voluntary-carbon-offsets-to-the-states-false-advertising-law/" target="_blank">false advertising</a>&nbsp;under California&rsquo;s existing legal parameters.&nbsp;
California&rsquo;s proposed law is far from an ideal solution. It rightly goes after parties making money&nbsp;off&nbsp;of a corporation&rsquo;s desire to do better for the planet, but it still leaves too much unstated. The new&nbsp;bill&nbsp;doesn&rsquo;t stipulate what form&nbsp;carbon&nbsp;offsets&nbsp;should take, or give guidance as to what level of scrutiny companies should use to evaluate their&nbsp;offset&nbsp;providers.
That the federal government has been&nbsp;<a href="https://www.clearygottlieb.com/news-and-insights/publication-listing/voluntary-carbon-markets-an-overview-of-us-regulatory-developments" target="_blank">slow to address</a>&nbsp;regulation around&nbsp;carbon&nbsp;offsets&nbsp;is no surprise. The SEC has said they would like to begin tracking organizations&rsquo;&nbsp;offsets&nbsp;but, with no clear legislative direction, federal agencies have danced around the&nbsp;offset&nbsp;issue. That, in turn, has created a landscape that depends on the case-by-case due diligence of the marketplaces and businesses buying the&nbsp;offsets.&nbsp;
Currently the&nbsp;carbon&nbsp;offset&nbsp;exchange markets are dominated by two major players:&nbsp;<a href="https://verra.org/programs/verified-carbon-standard/" target="_blank">Verra</a>&nbsp;and&nbsp;<a href="https://www.goldstandard.org/" target="_blank">Gold Standard</a>. Luckily, both of these groups take the issue of&nbsp;offset&nbsp;diligence seriously, adopting comprehensive standards to determine the viability and ultimate effect of a given project.&nbsp;
The hope for many of us in the&nbsp;carbon&nbsp;exchange community is that the standards that Verra and Gold Standard have&nbsp;set&nbsp;could be the ones that we eventually see the federal government adopt.&nbsp;
This process mirrors one aspect of how disabled access standards were created for the internet; the FTC initially tried and failed to establish accessibility standards, so the&nbsp;<a href="https://www.w3.org/" target="_blank">World Wide Web Consortium</a>&nbsp;created the&nbsp;<a href="https://www.w3.org/WAI/standards-guidelines/wcag/" target="_blank">Web Content Accessibility Guidelines (WCAG)</a>. Eventually, the federal government, via the ADA, adopted those same standards for the regulatory framework.&nbsp;
A similar process could happen in the&nbsp;carbon&nbsp;exchange world as well &mdash;&nbsp;with governments, formally or informally, adopting the standards created by private groups.&nbsp;
Of course, the danger is in what happens when some bad actors still get through. The&nbsp;<a href="https://www.yahoo.com/news/ceo-contentious-company-departs-amid-190000133.html" target="_blank">CEO of Verra stepped down last year</a>&nbsp;as the organization was facing scrutiny over the legitimacy of a large percentage of their rainforest&nbsp;carbon&nbsp;offset&nbsp;projects and chosen methodologies.
As someone who runs a company that purchases&nbsp;offsets, I can say first-hand that it&rsquo;s not always easy to determine which&nbsp;offsets&nbsp;are completely substantive and which projects are bunk. A lot of the&nbsp;offsets&nbsp;these credits support are run on the other side of the world from the companies buying them, and require experience and judgment to know when they&rsquo;re not what they seem.&nbsp;
Critics of the&nbsp;bill&nbsp;in California argue that increased regulation of the exchange market could have a&nbsp;<a href="https://capitolweekly.net/how-a-california-senate-bill-could-stifle-the-states-legacy-of-climate-ambition/" target="_blank">chilling effect on the&nbsp;offset&nbsp;market at large</a>; the cost of the&nbsp;offsets&nbsp;will escalate if a more thorough screening process knocks junk projects out. Companies who may already be skeptical users of&nbsp;offsets&nbsp;will be required to put more money down in order to counteract their footprint.&nbsp;&nbsp;
That said, something&rsquo;s got to give. Just like we pay to get our junk hauled away, we&rsquo;re paying these&nbsp;carbon&nbsp;exchanges to provide a similar service. You&rsquo;d be upset to find out that the junk hauling company had merely picked up your trash and dumped it in your backyard.&nbsp;Carbon&nbsp;should be no different.&nbsp;
More regulation is certainly coming&nbsp; &mdash;&nbsp;<a href="https://www.reuters.com/sustainability/climate-energy/us-launch-carbon-offset-guidelines-boost-integrity-2024-04-19/" target="_blank">California is only the start</a>. The EU just&nbsp;<a href="https://climate.ec.europa.eu/eu-action/certification-permanent-carbon-removals-carbon-farming-and-carbon-storage-products/certification-permanent-carbon-removals-carbon-farming-and-carbon-storage-products_en" target="_blank">introduced their own</a>&nbsp;preliminary standards and, as governments push to track the emissions of companies, ensuring that&nbsp;offsetting&nbsp;work is done correctly will be all the more important.&nbsp;
If California&rsquo;s&nbsp;bill&nbsp;passes, it will be the next step in bringing much needed regulation to the wild west of&nbsp;carbon&nbsp;exchanges.&nbsp;Carbon&nbsp;costs are a future inevitability. Tomorrow&rsquo;s regulations will be shaped by the standards and&nbsp;bills&nbsp;introduced today.
__
Chris Yoko is the founder of&nbsp;<a href="https://carbonoff.co/" target="_blank">Carbon&nbsp;Off</a>, a&nbsp;carbon&nbsp;offsets&nbsp;marketplace for employers.
Image via shutterstock
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

How To Refine California's Carbon Offset Bill

It almost feels like that every new week brings a new EV as automakers race to build and enhance their EV lineups.
Ferrari will be joining automakers in launching its first EV and according to a new report by&nbsp;Autocar, it should be unveiled as early as next year.&nbsp;Ferrari CEO Benedetto Vigna confirmed the news by telling Autocar the prototype testing is well underway. According to Autocar, Ferrari&rsquo;s all electric vehicle should be revealed the end of next year, followed by the launch sometime in 2026.&nbsp;
Ford Motor (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/f#NYSE">F</a>) is resureccting another iconic name plate to bring in its electric lineup. The new Capri will be&nbsp;an electric coup&eacute;-SUV that shares parts with the Ford Exlorer. But compared to the Ford Explorer, the Capri will be a lot more sporty, yet more muscular compared to the traditional Capri. This is not the first time Ford is bringing back an iconic nameplate to life for the EV era. Ford tried to direct its best-selling F-150 vibe to the the Lightning. Next year, Ford is launching the all-electric Puma. With the new Capri, Ford made an equivalent of Volkswagen&rsquo;s ID.5.&nbsp;
Suzuki is also to launch its first EV next year. Suzuki only revealed that the chunky small SUV will have a ranfe of up to 310 miles. Ahead of its EV launch, Suzuki is clearing out its internal-combustion engine lineup. With the eVX, Suzuki officially enters its EV era.
But electric pickups will also be much more than just electric-powered compared to their internal combustion engine counterparts. With the EV era comes a new set of clean energy accessories. For example, Worksport (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wksp#NASDAQ">WKSP</a>) is set to launch the world&rsquo;s first solar-powered tonneau cover this summer. In addition to the SOLIS tonneu-cover, Worksport is also developing a portable battery system COR. With this clean energy duo, Worksport is promising to provide EV drivers with off-grid power on the go. The Alpha release of the SOLIS is scheduled for this summer, and it is just the beginning for this revolutionary company that aims to establish itself as the leading provider of sustainable energy solutions for the automotive industry. Worksport just scheduled its second quarter live earnings call for August 13th, at 4:30 PM ET where it will speak of a dynamic quarter that was filled with significant developments as well as important milestones.
With a wealth of new models only set to arrive before this year comes to an end, it does not seem EV makers will be slowing down any time soon.&nbsp;
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

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WKSP

The EV Lineup Is To Gain Promising New Additions

Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) announced plans to release a new game to subscribers every month starting in <a href="https://www.benzinga.com/general/gaming">July 2024.</a>
This ambitious strategy was unveiled during the company&#8217;s latest earnings call, where co-CEO and President Gregory K. Peters declared Netflix&#8217;s commitment to expanding its gaming portfolio, GamesIndustry.Biz reported.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39865226/netflix-analysts-praise-q2-earnings-but-are-cautious-on-advertising-growth-slower-t">Netflix Analysts Praise Q2 Earnings, But Are Cautious On Advertising Growth: &#8216;Slower Than NFLX Planned&#8217;</a>
<h1 class="wp-block-heading">A Growing Focus On Gaming</h1>
Peters stressed the potential of the gaming market, noting that it generated &#8220;almost $150 billion, excluding China and Russia&#8221; without relying on advertisement revenue.
&#8220;We&#8217;re getting close to three years into our gaming initiative, and we&#8217;re happy with the progress that we&#8217;ve seen,&#8221; Peters said. &#8220;We&#8217;ve had set ourselves pretty aggressive engagement growth targets. And we&#8217;ve met those, exceeded those in many cases. In 2023, we tripled that engagement. We&#8217;re looking good in our engagement growth in &#8217;24, and we&#8217;ve set even more aggressive growth goals for &#8217;25 and &#8217;26.&#8221;
Despite these successes, Peters acknowledged engagement with Netflix&#8217;s gaming content is still relatively small. He also pointed out that the spending on gaming is modest compared to the company&#8217;s overall content expenditure.
<h1 class="wp-block-heading">Netflix&#8217;s Future Plans</h1>
Netflix already launched more than 100 games, and Peters revealed the company had over 80 in development. The focus, he explained, is on refining their offerings based on what has proven successful.
&#8220;We&#8217;ve seen what works, what doesn&#8217;t work,&#8221; Peters added. &#8220;We&#8217;re refining our program to do more of what is working with the 80-plus games that we currently have in development. And one of those things that really is working is connecting our members with games based on specific Netflix IP that they love.&#8221;
One area where Netflix has seen particular success is in interactive narrative games. These games, which are integrated into a narrative hub called Netflix Stories, are easier to build and offer engaging experiences based on popular Netflix shows.
Between April and June 2024, Netflix launched games based on &#8220;Virgin River&#8221; and &#8220;Perfect Match.&#8221; Starting in July, the company plans to release &#8220;about one new title per month,&#8221; with many more diverse games expected in the coming quarters and years.
<h1 class="wp-block-heading">Enthusiasm From Leadership</h1>
Co-CEO and president Theodore A. Sarandos expressed excitement about the potential of gaming to deepen fan engagement.
&#8220;I think our opportunity here to serve super fandom with games is really fun and remarkable,&#8221; Sarandos said. &#8220;I think the idea of being able to take a show and give the superfan a place to be in between seasons and even beyond that, to be able to use the game platform to introduce new characters and new storylines or new plot twist events [&#8230;] I&#8217;m really excited to see where this goes.&#8221;
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39857102/netflix-co-founder-marc-randolph-reflects-on-leadership-and-the-courage-to-step-aside-president-bide">Netflix Co-Founder Marc Randolph Reflects On Leadership And The &#8216;Courage To Step Aside:&#8217; &#8216;President Biden… Now Faces A Momentous Decision&#8217;</a></li>
</ul>
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Netflix To Launch Over 80 Games, Promises New Releases Monthly

Banco Latinoamericano (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLX#NYSE">BLX</a>) reported quarterly earnings of $1.36 per share. This is a 33.33 percent increase over earnings of $1.02 per share from the same period last year. The company reported $75.00 million in sales this quarter. This is a 30.66 percent increase over sales of $57.40 million the same period last year.

Earnings

Banco Latinoamericano Q2 GAAP EPS $1.36 Up From $1.02 YoY, Sales $75.00M Up From $57.40M YoY

A petition to add a <a href="https://www.benzinga.com/markets/cannabis/24/06/39466535/texas-cannabis-advocates-gather-50-000-signatures-to-place-marijuana-decriminalization-on-novemb">marijuana reform amendment</a> to the Dallas city charter has been certified by the City Secretary, paving the way for voters to make the final decision to decriminalize cannabis in the <a href="https://www.benzinga.com/topic/2024-election">November 2024</a> ballot. The petition was initiated by Ground Game Texas, which has organized cannabis reform initiatives <a href="https://www.benzinga.com/topic/texas-cannabis" target="_blank" rel="noreferrer noopener">across multiple Texas cities</a>.
The proposed amendment, the "Dallas Freedom Act," seeks to change how marijuana offenses are handled in the city, home to 1.3 million people.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39678834/texas-town-joins-statewide-push-to-decriminalize-cannabis-with-successful-petition">Texas Town Joins Statewide Push To Decriminalize Cannabis With Successful Petition</a>
The amendment directs the Dallas Police Department to stop issuing citations or making arrests for Class A or Class B misdemeanor for the possession of up to 4 ounces of marijuana. It also prohibits the use of city funds or personnel for testing any cannabis-related substance to determine if it meets the legal definition of marijuana under state and federal laws.
In addition, the amendment language stipulates that police officers cannot consider the smell of marijuana as probable cause for search and seizure "except in the limited circumstances of a police investigation," <a href="https://www.keranews.org/news/2024-07-23/will-dallas-voters-add-marijuana-reform-to-the-city-charter-or-will-the-idea-go-up-in-smoke">according to</a> KERA News, adding that cops can be punished if they are found to be violating the policy.
<h2 class="wp-block-heading">Democracy In Action: &#8216;Refreshing&#8217;</h2>
The city council will not influence whether the amendments appear on the ballot. According to a Council member Chad West, the council must vote to include the amendments in the Charter package for the November election, as they have no legal discretion in the matter.
West told KERA in a text message that he was delighted with all the popular (and local government&#8217;s) support for the issue.
"It's refreshing to see so many Dallas residents get excited about a policy initiative," West said. "I appreciate the engagement in and passion for city government and hope they keep it up."
<h2 class="wp-block-heading">And Then There's Texas Attorney General Ken Paxton</h2>
Paxton is spending many hours prosecuting several cities across Texas that <a href="https://www.benzinga.com/markets/cannabis/24/05/39041635/73-of-texans-support-full-cannabis-legalization-or-decriminalization-including-plurality-of-repu" target="_blank" rel="noreferrer noopener">have decriminalized marijuana</a>&#8230;most with over 70% voter approval, we might add.
Those cities include Denton, Elgin, Killeen and San Marcos, all of which&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/01/36880984/gop-attor-ney-gen-er-al-in-texas-sues-five-cities-to-stop-voter-approved-mar-i-jua-na-reform-say" target="_blank" rel="noreferrer noopener">are being sued&nbsp;</a>by the busy Attorney General. In June, a <a href="https://www.benzinga.com/markets/cannabis/24/06/39302347/texas-judge-dismisses-gop-attorney-general-ken-paxtons-lawsuit-against-voter-approved-cannabis-m">judge dismissed Paxton's lawsuit</a> against Austin.
<h2 class="wp-block-heading">Why Does Paxton Do It, You Ask?</h2>
We'll let him tell you. "I will not stand idly by as cities run by pro-crime extremists deliberately violate Texas law and promote the use of illicit drugs that harm our communities," Paxton wrote in a press release earlier this year and has reiterated the claim on numerous occasions.
Now Read:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/06/39302347/texas-judge-dismisses-gop-attorney-general-ken-paxtons-lawsuit-against-voter-approved-cannabis-m">Texas Judge Dismisses GOP Attorney General Ken Paxton&#8217;s Lawsuit Against Voter-Approved Cannabis Measure, Upholds Austin&#8217;s Marijuana Decriminalization Law</a></li>
</ul>
Photo: Dallas skyline courtesy of Texas State Historical Association

Cannabis

Government

Regulations

Politics

Legal

Dallas Cannabis Reform Ballot Is A Go: Decriminalization In November Elections Would Allow Up To 4 Ounces Of Weed

TSBK

Timberland Bancorp Reports Q3 EPS Of $0.74 Vs $0.77 Last Year; Revenue Declines 4% To $18.77M From $19.51M Prior Year

Vice President Kamala Harris is nearing a head-to-head matchup against former President Donald Trump in the <a href="https://www.benzinga.com/topic/2024-election">2024 presidential election.</a>
The matchup comes after President Joe Biden withdrew from the race. Early polling data show a close race between Harris and Trump with the vice president gaining support that Biden lost.
What Happened: Prior to Biden dropping out of the 2024 election race, Trump's lead had been growing in polls and <a href="https://www.benzinga.com/general/sports-betting/24/07/39868243/2024-election-betting-odds-joe-biden-has-8-chance-of-winning-according-to-sportsbooks-pred">betting odds from sportsbooks</a> and prediction markets in the head-to-head battle against the current president.
A new Morning Consult <a href="https://pro.morningconsult.com/analysis/kamala-harris-biden-campaign-polling">poll </a>shows how voters would vote in the expected head-to-head matchup of Trump and Harris.
The new poll shows the following results from voters polled after Biden made his announcement on July 21 through July 23.
Kamala Harris: 45%
Donald Trump: 47%
Someone Else: 5%
Don't Know: 4%
The poll found that 65% of Democratic voters support Harris as the top option for the nomination and 59% said she had the best chance of the Democratic candidates used in the poll to beat Trump in the 2024 election.
California Gov. Gavin Newsom ranked second among Democratic candidates that should get the nomination and have the best chance of beating Trump at 7% and 9% respectively.
The poll of voters also listed several hypothetical head-to-head matchups of Democratic candidates against Trump with Harris performing better than the likes of Pete Buttigieg (39% to 46%), Newsom (39% to 47%), Gretchen Whitmer (39% to 47%) and Josh Shapiro (37% to 46%).
Read Also: <a href="https://www.benzinga.com/general/entertainment/24/07/39896462/the-simpsons-does-it-again-could-this-animated-show-veep-barbie-foreshadow-kamala-harris-wi">&#8216;The Simpsons&#8217; Does It Again? Could This Animated Show, &#8216;Veep,&#8217; &#8216;Barbie&#8217; Foreshadow Kamala Harris Winning 2024 Election</a>
Why It's Important: While Harris trails Trump by 2-points, she has gained support <a href="https://www.benzinga.com/general/politics/24/07/39851267/trump-vs-biden-former-president-posts-largest-2024-election-lead-since-february-does-kamala-harr">compared to Biden</a> and ranks well with several key demographics.
Here are some of the key voter groups and how Biden and Harris compare versus Trump:
<ul>
<li>Male voters: Harris -5 points, Biden -12 points</li>
<li>Female voters: Harris 0 (even), Biden -2 points</li>
<li>Independent voters: Harris +5 points, Biden -6 points</li>
<li>Black voters: Harris +54 points, Biden +39 points</li>
<li>Hispanic voters: Harris +8 points, Biden +4 points</li>
<li>White voters: Harris -14 points, Biden -17 points</li>
</ul>
Harris ranks ahead of Biden on all the demographics above and ranks ahead of Trump on the key independent voters demographic that could play a large role in the 2024 presidential election.
Last week's poll saw Trump with a four-point lead over Biden, a lead that grew to six-points later in the week ahead of the Republican National Convention.
A key for the 2024 election could be voter turnout. Twenty-seven percent of Democrats said they are "much more motivated" to vote in the election, compared to 24% that answered the same before Biden dropped out.
Going forward, 63% of voters say Biden should finish his current presidential term, with 30% saying the president should resign and Harris should take over.
Interestingly enough, with Biden dropping out of the race, some voters think Trump should also reconsider. Twenty-seven percent of Republican voters said Trump should be replaced as the party's candidate.
Read Next:
<ul>
<li><a href="https://bzresearch.myclickfunnels.com/latest-research-webinar-redirect-evergreen?utm_source=website-content" target="_blank" rel="noreferrer noopener">Turn Trading Into The Ultimate Side Hustle Using Benzinga Tools In A Free Webinar</a></li>
</ul>
Photo: Shutterstock

Harris Vs. Trump: Vice President Trails Former President By 2 Points, Gains Independent Voters, 59% Of Democrats Say Best Chance To Win 2024 Election

The company also announced the retirement of Richard Roedel from the Board of Directors&nbsp;after nearly 20 years of service, and the closing of a&nbsp;$15 million&nbsp;junior secured term loan facility.
Ilcisin succeeds Richard Roedel, who informed the Board on July 12, 2024, that, after nearly 20 years of dedicated service to the Company, he was stepping down as Interim President and Interim Executive Chairman of the Company due to health reasons, effective immediately.
On July 16, 2024, Warren B. (Barry) Phelps, III was appointed Chair of the Board of Directors.

Management

LUNA

Luna Innovations Appoints Kevin Ilcisin As Its New President And CEO, Effective August 1, 2024

French luxury businessman Bernard Arnault is poised to see a significant drop in his fortune, potentially by <a href="https://www.benzinga.com/news/24/03/37768771/jeff-bezos-and-bernard-arnault-lead-billionaires-in-net-worth-but-their-journeys-could-not-be-anymor">several billion dollars</a>.
Nearly half of Arnault&#8217;s wealth is tied to his stake in LVMH-Moët Hennessy Louis Vuitton (OTCPK: LVMHF), which saw a nearly 5% decline in over-the-counter shares after earnings <a href="https://www.benzinga.com/topic/bernard-arnault">fell short of expectations. </a>
The tycoon&#8217;s losses could now enable Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CEO Mark Zuckerberg to inch further closer to Arnault&#8217;s position as the third-richest person in the world, according to Bloomberg&#8217;s billionaires ranking.
<h3 class="wp-block-heading">World&#8217;s Top 10 Richest Billionaire</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Rank</td>
<td>Name</td>
<td>Total net worth</td>
</tr>
<tr>
<td>1</td>
<td>Elon Musk</td>
<td>$257B</td>
</tr>
<tr>
<td>2</td>
<td>Jeff Bezos</td>
<td>$206B</td>
</tr>
<tr>
<td>3</td>
<td>Bernard Arnault</td>
<td>$193B</td>
</tr>
<tr>
<td>4</td>
<td>Mark Zuckerberg</td>
<td>$170B</td>
</tr>
<tr>
<td>5</td>
<td>Bill Gates</td>
<td>$159B</td>
</tr>
<tr>
<td>6</td>
<td>Larry Page</td>
<td>$159B</td>
</tr>
<tr>
<td>7</td>
<td>Larry Ellison</td>
<td>$154B</td>
</tr>
<tr>
<td>8</td>
<td>Steve Ballmer</td>
<td>$151B</td>
</tr>
<tr>
<td>9</td>
<td>Sergey Brin</td>
<td>$149B</td>
</tr>
<tr>
<td>10</td>
<td>Warren Buffett</td>
<td>$137B</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Source: Bloomberg Billionaires Index as of July 22, 2024</figcaption></figure>
See Also: <a href="https://www.benzinga.com/news/23/05/32610787/heres-why-the-worlds-richest-man-has-ditched-his-plans-to-build-a-luxury-hotel-in-beverly-hills">Here&#8217;s Why Bernard Arnault Ditched Plans To Build A Luxury Hotel In Beverly Hills</a>
<h3 class="wp-block-heading">LVMH Misses Street Estimates</h3>
In the first half of 2024, LVMH reported revenue of $44.64 billion. It fell short of estimates by about 1.4%. Earnings per share were reported at $16.01, below the anticipated $16.365.
These figures have raised concerns about the luxury sector, which is often seen as recession-proof but now shows signs of vulnerability.
"The results for the first half of the year reflect LVMH's remarkable resilience, backed by the strength of its Maisons and the responsiveness of its teams in a climate of economic and geopolitical uncertainty,&#8221; said Arnault, chairman and CEO of LVMH. 
He added, &#8220;In a year marked by our partnership with the Paris 2024 Olympic and Paralympic Games&#8230; the Group approaches the second half of the year with confidence, and will count on the agility and talent of its teams to further strengthen its global leadership position in luxury goods in 2024.&#8221;
<h3 class="wp-block-heading">Wines &amp; Spirits Struggle, Watches &amp; Jewelry Under Pressure</h3>
The Wines &amp; Spirits division experienced a 9% organic revenue decline in the first half of 2024, with profit from recurring operations down 26%. 
This decline was driven by decreased Champagne sales and weak local demand for Hennessy cognac in China, reflecting broader challenges in key markets. 
The Watches &amp; Jewelry division also faced difficulties, with a 3% organic revenue decline and a 19% drop in profit from recurring operations, significantly impacted by exchange rate fluctuations. Despite these challenges, Tiffany &amp; Co. continued to shine with its iconic lines and a new campaign that received a warm reception. 
The new Tiffany Titan collection by Pharrell Williams generated exceptional interest, highlighting the brand&#8217;s ability to innovate and attract new audiences.
TAG Heuer, on the other hand, strengthened its ties with motorsports through the successful relaunch of its historic Formula 1 collection, showing resilience in its niche market.
The Perfumes &amp; Cosmetics division recorded a 6% organic revenue growth in the first half of 2024. This growth was driven by the ongoing success of its flagship lines. Christian Dior delivered a robust performance across all product categories, reinforcing its leadership position in strategic markets.
Sauvage maintained its status as the world's leading fragrance, while J'adore continued to thrive. 
The new Miss Dior Parfum edition also achieved strong growth, showcasing the brand&#8217;s enduring appeal and innovative marketing strategies.
Now Read:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39913432/fed-rate-cut-assurance-republican-sweep-odds-propel-rotation-from-tech-to-small-cap">Fed Rate Cut Assurance, Republican Sweep Odds Propel Rotation From Tech To Small Caps: Analysts Weigh In</a></li>
</ul>

Large Cap

Eurozone

Global

Econ #s

LVMHF

Arnault's Fortune Falls As LVMH Misses On Earnings: Zuckerberg Now Eyes Third Spot On Billionaires List

The report was presented at a press briefing during the Farnborough International Airshow today.
&nbsp;

Embraer-Empresa Brasileira De Aeronautica

Embraer's Market Outlook 2024: Estimates 10,500 Orders For New Jets And Turboprops Through 2043

Elliott Commends Texas Instruments On Positive Shareholder Engagement And Capital Allocation Initiatives

First Busey (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BUSE#NASDAQ">BUSE</a>) reported quarterly earnings of $0.50 per share which beat the analyst consensus estimate of $0.49 by 2.04 percent. This is a 3.85 percent decrease over earnings of $0.52 per share from the same period last year. The company reported quarterly sales of $116.23 million which missed the analyst consensus estimate of $116.35 million by 0.10 percent. This is a 8.95 percent increase over sales of $106.68 million the same period last year.

BUSE

First Busey Q2 Adj EPS $0.50 Beats $0.49 Estimate, Sales $116.23M Miss $116.35M Estimate

ASML Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) has outperformed the market over the past 5 years by 19.27% on an annualized basis producing an average annual return of 32.2%. Currently, ASML Holding has a market capitalization of $366.77 billion. 
Buying $1000 In ASML: If an investor had bought $1000 of ASML stock 5 years ago, it would be worth $4,040.76 today based on a price of $932.79 for ASML at the time of writing.
<h3>ASML Holding's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721770244_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ASML

$1000 Invested In ASML Holding 5 Years Ago Would Be Worth This Much Today

Tenet Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) has outperformed the market over the past 15 years by 3.14% on an annualized basis producing an average annual return of 15.39%. Currently, Tenet Healthcare has a market capitalization of $13.72 billion. 
Buying $1000 In THC: If an investor had bought $1000 of THC stock 15 years ago, it would be worth $8,518.43 today based on a price of $140.49 for THC at the time of writing.
<h3>Tenet Healthcare's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721770239_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Tenet Healthcare Stock In The Last 15 Years

Trustmark (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRMK#NASDAQ">TRMK</a>) reported quarterly earnings of $0.66 per share which beat the analyst consensus estimate of $0.62 by 6.45 percent. This is a 1.49 percent decrease over earnings of $0.67 per share from the same period last year.

Earnings Beats

TRMK

Trustmark Q2 2024 Adj EPS $0.66 Beats $0.62 Estimate

Apollo Global Management&nbsp;is acquiring U.S. Silica Holdings in a deal expected to close soon pending final closing conditions.&nbsp;

SLCA

SNDR

Schneider National To Replace U.S. Silica Holdings In S&P SmallCap 600, Effective Prior To Opening Of Trading On July 31

JD Sports Fashion Plc (XLON: JD) is acquiring Hibbett in a deal expected to close soon pending final closing conditions.&nbsp;

HIBB

QDEL

QuidelOrtho To Replace Hibbett In S&P SmallCap 600, Effective Prior To Opening Of Trading On July 26

AVTR

Avantor To Replace QuidelOrtho In The S&P MidCap 400, Effective Prior To Opening Of Trading On July 26

First Commonwealth (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCF#NYSE">FCF</a>) reported quarterly earnings of $0.36 per share which beat the analyst consensus estimate of $0.35 by 2.86 percent. This is a 14.29 percent decrease over earnings of $0.42 per share from the same period last year. The company reported quarterly sales of $120.508 million which beat the analyst consensus estimate of $118.431 million by 1.75 percent. This is a 1.75 percent decrease over sales of $122.652 million the same period last year.

First Commonwealth Q2 2024 Adj EPS $0.36 Beats $0.35 Estimate, Sales $120.508M Beat $118.431M Estimate

Meitu

MSTR

Coinbase Launches 'Prime' Brokerage For Institutions To Trade Crypto

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Latest news for Meitu (OTC:MEIUY) Stock

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