Nova Vision Acquisition Corp. - Rights Stock (NASDAQ: NOVVR)

Latest news for Nova Vision Acquisition Corp. - Rights (NASDAQ:NOVVR) Stock

Nova Vision Acquisition Corp. - Rights

Sportsbook operator DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>) faces a lawsuit from the Major League Baseball Players Union, a move that could dampen high expectations for other sports like the NFL<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40885110/draftkings-sportsbooks-could-benefit-from-week-2-nfl-underdogs-winning">, which just kicked off its season.</a>
 What Happened: The <a href="https://www.benzinga.com/topic/major-league-baseball">Major League Baseball</a> (MLB) Players Union has filed a lawsuit against DraftKings and Bet365 for using names and images of MLB players without permission.
The lawsuit, filed in Philadelphia federal court Monday, alleges DraftKings is in violation of Pennsylvania law, as reported by <a href="https://www.bloomberg.com/news/articles/2024-09-16/draftkings-sued-by-mlb-players-union-for-using-names-images?srnd=homepage-americas&amp;sref=TBDibEcD">Bloomberg</a>.
Both named sportsbooks used alleged images of MLB players in marketing campaigns, according to the report.
Benzinga reached out to DraftKings for comment and did not hear back.
Pennsylvania is home to two MLB teams: Pittsburgh Pirates and Philadelphia Phillies.
Read Also: <a href="https://www.benzinga.com/general/sports-betting/24/08/40557164/danny-jansen-makes-history-monday-playing-for-both-teams-in-same-mlb-game-heres-the-unique">Danny Jansen Makes History Monday Playing For Both Teams In Same MLB Game: Here&#8217;s The Unique Story</a>
Why It's Important: Monday's lawsuit sees the players union seeking compensatory and punitive damages. The lawsuit also demands DraftKings stop using the names and images on the platform.
The players' union is requesting that profits from the use of MLB players' images be taken away from the sportsbook and turned over to the players.
"Defendants' use of player images within their sportsbook platforms is not merely informational — it is promotional," lawyers for the players' union said Monday.
The lawsuit said both DraftKings and Bet365 offer player prop bets in other sports without using player images.
"Users could bet that the Phillies will beat the Marlins, or that Bryce Harper will hit more than two home runs in a given game, without seeing Harper's valuable image."
Monday's lawsuit could have a ripple effect for the way players are listed on sportsbooks and how player props are marketed to users.
DKNG Price Action: DraftKings stock closed 1.16% to $38.24 on Monday versus a 52-week trading range of $25.74 to $49.57. DraftKings stock is up 13.9% year-to-date in 2024.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/08/40116073/draftkings-q2-earnings-highlights-sports-betting-company-launches-1-billion-buyback-misses-on-reven">DraftKings Q2 Earnings Highlights: Sports Betting Company Launches $1-Billion Buyback, Misses On Revenue, Beats On Earnings</a></li>
</ul>
Photo: Shutterstock

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DraftKings Faces Major League Baseball Lawsuit Over Usage Of Players' Names, Images: 'Not Merely Informational – It Is Promotional'

Rob Gronkowski is best known for his time in the National Football League, but his recent call of timing the bottom in the stock market might be a welcome sign during the <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/07/40025773/bad-news-ahead-for-investors-august-september-are-worst-two-months-over-past-20-years-">often losing month of September.</a>
What Happened: Gronkowski offered a sense of urgency to get stock market prices back up last week after<a href="https://www.benzinga.com/topic/s-p-500"> the S&amp;P 500, </a>which is tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), started the week down.
The former NFL star, who won four Super Bowls during his 11-year NFL career with the New England Patriots and Tampa Bay Buccaneers, was featured in a live television interview sharing his financial takes.
"I want to bring the stock market back. I heard it's down right now with the election thing and everything that's going on. So I'm here at Cantor Fitzgerald to do some trades. I want to do the biggest trades of the day and bring that stock market so it's just moving back, you know, back up to the sky," Gronkowski said.
Tker founder Sam Ro shared the chart below on Gronkowski's comments and the S&amp;P 500 move shortly after.
<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">Gronk Rally &#x1f680;&#x1f4c8; <a href="https://t.co/N9f5muJn3C">https://t.co/N9f5muJn3C</a> <a href="https://t.co/4oXOcNjkAG">pic.twitter.com/4oXOcNjkAG</a>
&mdash; Sam Ro &#x1f4c8; (@SamRo) <a href="https://twitter.com/SamRo/status/1833939935126053042?ref_src=twsrc%5Etfw">September 11, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
What followed in the days after Gronkowski spoke was the S&amp;P 500 trading higher. The index was up Wednesday, Thursday and Friday. On Monday, the S&amp;P 500 also traded up.
So was Gronkowski the good luck charm the stock market needed as September came in with a whimper? 
Not exactly.
Wednesday saw the release of CPI data and the stock market reacted negatively with the S&amp;P 500 going down 1.6% before finishing the day 1.1% higher, as shared by Freedom Capital Markets Chief Global Strategist Jay Woods in his weekly <a href="https://jaywoods.substack.com/">newsletter</a>.
Woods said Wednesday marked the largest intraday comeback since November 2022, which he said is coincidentally "about the same time this current bull market began."
The market strategist, like many financial experts and analysts, attributed the rally on Wednesday to positive comments from NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang while <a href="https://www.benzinga.com/news/large-cap/24/09/40820349/nvidia-ceo-jensen-huang-admits-its-tense-as-surging-demand-for-blackwell-chips-sparks-customer-fru">speaking at the day's</a> Goldman Sachs Communacopia and Technology Conference.
"That led to an 8% rally in one of the most influential stocks in the market and continued to rally the rest of the week. In fact, the semiconductor and technology sectors had their best week of the year," Woods said.
Woods said Gronkowski timed the market "just right."
"I'll let the readers decide if it was more of a Jensen Huang-led rally or Gronk. Either way, the markets held the lows set a week ago Friday and finished last week at its highs."
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent091624">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: While the chart above points to Gronkowskis' timing, the likely reason for the stock market optimism last week was Nvidia and Huang.
Huang <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40837620/nvidia-ceo-jensen-huang-eases-investor-concerns-on-ai-demand-blackwell-timeline-and">spoke of strong AI demand</a>, no Blackwell (AI chip) delays and the potential return on investment for companies buying products from Nvidia.
The comments sparked optimism for Nvidia and the overall stock market.
The SPDR S&amp;P 500 ETF is now up 4.2% from its low of $539.96 on Sept. 11. With a closing price of $562.84 on Monday (Sept. 16), the stock market index ETF is now almost even with the August closing price of $563.68.
The weak open to September could soon be a thing of the past thanks to Huang and Gronkowski.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/top-stories/24/08/40534794/nvidia-is-next-weeks-top-stock-market-strategist-says-why-best-long-term-idea-is-just-buy-nvidia-and">Why Best Long-Term Idea Is &#8216;Just Buy Nvidia And Put It Away&#8217;</a></li>
</ul>

Photo: Ron Gronkowski, Public Domain, Chairman of the Joint Chiefs of Staff from Washington D.C, U.S. via <a href="https://creativecommons.org/licenses/by/2.0">Wikimedia Commons</a>; Jensen Huang via Shutterstock

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NVDA

Gronk Spike? Did Rob Gronkowski Save The Stock Market? New Chart Shows Potential, But Jensen Huang Would Like A Word

Content creators MrBeast, Logan Paul and KSI have teamed up on a new food company called Lunchly that is taking on the well-known<a href="https://www.benzinga.com/markets/equities/23/08/33960652/kraft-heinz-plans-to-offer-lunchables-to-school-cafeterias-sees-multi-billion-opportunity-report"> ready-to-eat Lunchables brand.</a>
What Happened: Food giant Kraft Heinz Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NYSE">KHC</a>) may<a href="https://www.benzinga.com/markets/equities/24/01/36680301/this-warren-buffett-favorite-just-made-a-golden-cross-bullish-signals-on-the-horizon"> have trouble ahead</a> for its Lunchables brand with Lunchly now in direct competition.
Lunchly was launched with the "goal of revolutionizing lunch" and providing a focus on quality ingredients, delicious flavors and healthier options for the grab-and-go lunch sector, the creators said.
There are three <a href="https://lunchly.com/">Lunchly </a>meal options at launch: Turkey Stack ‘Ems, Pizza and Fiesta Nachos. Each meal comes with a PRIME hydration drink and a Feastables bar. PRIME was launched in 2022 by Paul and KSI; Feastables was also launched that same year by MrBeast.
Paul said Lunchables has dominated the lunch grab-and-go market for years and Lunchly will provide a "better option" for people looking for convenience and healthy options.
Lunchly products will hit stores later this month. A search on the company's website showed Kroger Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) locations as stores that will carry the products.
MrBeast said Lunchly will provide healthier and "better-tasting options.
"Lunchly is all about giving kids a fun, grab-and-go meal that's not just delicious, but also good for them. We're here to change what lunchtime looks like for the next generation," MrBeast, aka Jimmy Donaldson, said.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent091624">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: With three of the most widely followed names in content creation and people popular with the younger generation today, Lunchly could present a major challenge to Lunchables.
The news also comes at a bad time for Lunchables, which said in August that it was ready to offer Lunchables in school cafeterias with a potential $25 billion opportunity.
MrBeast is the <a href="https://www.benzinga.com/general/entertainment/24/07/39720279/mrbeast-celebrates-youtube-record-with-new-video-featuring-50-content-creators-competing-fo">most followed person </a>on YouTube with 315 million followers. PRIME has been one of the fastest growing beverages since it launched, hitting the <a href="https://www.benzinga.com/trading-ideas/23/11/35711957/logan-paul-ksis-prime-beverage-hits-1-billion-units-sold-should-pepsi-and-coca-cola-be-worried">one billion units sold milestone</a> in November.
Existing distribution deals that Feastables and PRIME have in place could help the company quickly land in retailers globally.
Bad news for Lunchables could also be bad news for billionaire Warren Buffett. Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) owns over 325 million Kraft Heinz shares and more than 25% of the company.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/sports/23/12/36314531/patrick-mahomes-signs-with-logan-paul-backed-prime-drink-company-why-this-could-be-bad-news-for-co">Patrick Mahomes Signs With Logan Paul-Backed PRIME Drink Company: Why This Could Be Bad News For Coca-Cola And Pepsi</a></li>
</ul>
Photos: MrBeast, Logan Paul, KSI via Shutterstock

Trading Ideas

MrBeast, Logan Paul, KSI Team Up To Launch Lunchly, Take On Lunchables — And Warren Buffett

In 2022, Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) lost out to Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), a multiyear Sony Group Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) PlayStation 6 chip deal, according to a Reuters exclusive report.
The sources told Reuters that tapping Intel would have posed backward compatibility issues, entailing higher costs and engineering resources, as AMD made the PlayStation 5 chip.
Intel fell out with Sony by failing to quote an appropriate selling price per chip after factoring in its profit share per chip sold to the PlayStation maker, the sources told Reuters.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40833611/google-picks-taiwan-semiconductor-for-pixel-chips-samsung-loses-key-deal-report" rel="noreferrer noopener">Google Picks Taiwan Semiconductor For Pixel Chips, Samsung Loses Key Deal: Report</a>
According to Reuters, the five-year deal involving contract chipmaker Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) could have contributed $30 billion to Intel.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16080324/newplot-1-6.png" alt="" class="wp-image-549403" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16080324/newplot-1-6.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16080324/newplot-1-6-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Since its release in 2020, the PlayStation 5 has sold over 59 million units, marking a respite for significant console makers, which faced double-digit percentage declines in May 2024. Sony is <a target="_blank" href="https://www.benzinga.com/news/24/09/40801792/sonys-playstation-5-pro-to-hit-shelves-in-november-boasting-45-faster-performance" rel="noreferrer noopener">eying an upgraded</a>, premium version dubbed PlayStation 5 Pro before the holiday season.
Sony&#8217;s&nbsp;fiscal first-quarter 2024&nbsp;topline growth&nbsp;was 2% to $19.3 billion, beating the consensus of&nbsp;$17.19 billion.&nbsp;Game &amp; Network Services (G&amp;NS) revenue increased 12%.
Intel stock has been&nbsp;down over 48% in&nbsp;the last 12 months as it has failed to capitalize on the artificial intelligence shift.
This has forced it to weigh strategic options for Israeli autonomous driving company&nbsp;Mobileye Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>)&nbsp;and its Enterprise Networking division.
The contract chipmaker bagged two wins in September, including $1.91 billion in Polish state grants for a new chip plant in the country and a <a target="_blank" href="https://www.benzinga.com/news/24/09/40864854/intel-bags-3-5b-contract-to-produce-chips-for-pentagon-report" rel="noreferrer noopener">$3.5 billion deal</a> to manufacture semiconductors for the U.S. military.
AMD stock is up 49% in the last 12 months as it succeeded in tapping the AI frenzy while <a target="_blank" href="https://www.benzinga.com/news/24/09/40820316/amd-gains-ground-in-ai-chip-market-oracle-exec-confirms-growing-demand-report" rel="noreferrer noopener">maneuvering its position</a> versus Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
Price Actions: INTC stock closed higher by 6.36% to $20.91 on Monday. AMD closed at $152.08.
Photo via Shutterstock

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Sony Group Corporation American Depositary Shares

SONY

Intel Missed Out on PlayStation 6 Chip Deal to AMD: Report

The dividend is payable&nbsp;Dec. 12, 2024, to shareholders of record on&nbsp;Nov. 21, 2024. The ex-dividend date will be&nbsp;Nov. 21, 2024.

Dividends

MSFT

Microsoft Boosts Quarterly Dividend By 10% From $0.75 To $0.83 Per Share

The new share repurchase program, which has no expiration date, may be terminated at any time.

Buybacks

Microsoft Plans New Share Repurchase Program Authorizing Up To $60B

Nvidia Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)&nbsp;rally disproportionately influences the S&amp;P 500 index, reflecting concerns over the domino effect due to the integrated semiconductor ecosystem.
Nvidia accounted for 25% of the S&amp;P 500&#8217;s 17% gain in 2024, Reuters reports.
The chip designer has risen by 166% in the last 12 months as Big Techs, including Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Amazon.Com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), and Google parent Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), splurge on their artificial intelligence ambitions.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16120007/newplot-12.png" alt="" class="wp-image-550044" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16120007/newplot-12.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16120007/newplot-12-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40820316/amd-gains-ground-in-ai-chip-market-oracle-exec-confirms-growing-demand-report" rel="noreferrer noopener">AMD Gains Ground in AI Chip Market, Oracle Exec Confirms Growing Demand: Report</a>
The rising valuation of NvidiaNVIDIA in 2024 has helped boost the wealth of Jensen Huang, the co-founder and CEO of the company that was once created inside <a target="_blank" href="https://www.benzinga.com/general/social-media/24/03/37879478/humble-beginnings-like-nvidia-reddit-was-founded-inside-a-restaurant" rel="noreferrer noopener">a Denny&#8217;s restaurant.</a>
Huang has a wealth of $90.5 billion, ranking 18th according to <a target="_blank" href="https://www.bloomberg.com/billionaires/" rel="noreferrer noopener">Bloomberg</a>. While Huang hasn&#8217;t cracked the top 10 list yet and would currently need to hit a wealth of $130 billion, the Nvidia co-founder is one of the fastest risers among the world&#8217;s richest people. Huang&#8217;s wealth is up $46.4 billion year-to-date in 2024.
That figure is more than the combined $41.83 billion gained by Elon Musk, Jeff Bezos and Bill Gates. Musk, Bezos and Gates currently rank first, second and fifth, respectively, with their current wealth and year-to-date gains.
<ul>
<li>Elon Musk: $237 billion, +$7.73 billion year-to-date</li>
<li>Jeff Bezos: $195 billion, +$17.9 billion year-to-date</li>
<li>Bill Gates: $157 billion, +$16.2 billion year-to-date</li>
</ul>
The gain by Huang is one of the largest year-to-date gains, trailing only Meta Platforms CEO Mark Zuckerberg, who is up $49.9 billion and listed fourth at $178 billion.
It&#8217;s not just personal wealth &#8211; due to the AI frenzy, Huang expects hyper-scale customers to produce <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40837620/nvidia-ceo-jensen-huang-eases-investor-concerns-on-ai-demand-blackwell-timeline-and" rel="noreferrer noopener">$5 in rental revenue</a> for every $1 spent on Nvidia&#8217;s infrastructure. He also reiterated that Blackwell-based products will ship in the fourth fiscal quarter.
This indicates that Nvidia stock losing value would impact the S&amp;P500 and Huang&#8217;s wealth. However, Huang had snubbed <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/09/40820349/nvidia-ceo-jensen-huang-admits-its-tense-as-surging-demand-for-blackwell-chips-sparks-customer-fru" rel="noreferrer noopener">geopolitical tensions surrounding</a> supplier&nbsp;Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), voicing the possibility of switching suppliers.&nbsp;
Microsoft, Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), and Nvidia have a combined weighting of 20% in the S&amp;P 500. Microsoft gained 31%, and Apple has risen 22% in the last 12 months as they remain invested in their AI goals.
Investors can gain exposure to Nvidia and the S&amp;P 500 through SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>).
Price Action: NVDA stock closed lower by 1.95% to $116.78 on Monday.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40790997/taiwan-semiconductors-strong-august-sales-hint-at-big-gains-ahead-ai-and-iphone-demand-fuel-optimism" target="_blank" rel="noreferrer noopener">Taiwan Semiconductor&#8217;s Strong August Sales Hint at Big Gains Ahead, AI and iPhone Demand Fuel Optimism</a></li>
</ul>
Image via Shutterstock

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Nvidia's AI Surge Powers 25% of S&P 500 Gains in 2024, Makes Co-founder Huang Among Fastest Growing: Report

Ocean Power Technologies, Inc. (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/OPTT#AMEX">OPTT</a>) reported its first-quarter financial results after Monday's closing bell. Here's a look at the <a href="https://www.benzinga.com/pressreleases/24/09/g40887853/ocean-power-technologies-inc-announces-first-quarter-fiscal-2025-results">details from the report. </a>
The Details: Ocean Power Technologies reported quarterly losses of five cents per share, up from losses of 12 cents per share from the prior year&#8217;s quarter. Revenue of $1.3 million for the first quarter was up from $1.27 million from the same period last year.
<ul>
<li>Operating expenses of $4.9 million decreased 39% year-over-year, reflecting previously disclosed restructuring and streamlining activities.</li>
<li>The company&#8217;s backlog was $5.3 million, a 71% increase over the backlog from the same period last year, reflecting its previously announced efforts in Latin America and the Middle East.</li>
<li>The company&#8217;s pipeline was approximately $92 million and reflects an increase in defense and security activity as well as an expansion of commercial opportunities.</li>
</ul>
Read Next: <a href="https://www.benzinga.com/news/large-cap/24/09/40883011/nvidia-micron-smci-stocks-are-down-monday-whats-going-on">NVIDIA, Micron, SMCI Stocks Are Down Monday: What&#8217;s Going On?</a>
&#8220;We continue to make progress on our path towards profitability as evidenced by the continued growth in our pipeline, backlog, revenues and gross margin. We have also made significant progress in stemming our losses, as evidenced by a material decrease in our operating costs,&#8221; said Philipp Stratmann, CEO of Ocean Power Technologies.
&#8220;The previously announced substantial cessation of our R&amp;D efforts and the realignment of our headcount to focus on execution has led to a reduction in payroll and engineering related expenditures, and we will continue to see further benefits of these efforts going forward,&#8221; Stratmann added.
OPTT Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Ocean Power Technologies shares are up 9.32% after-hours at 27 cents after climbing 28.27% in Monday&#8217;s regular trading session.  
Read Also:
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<li><a href="https://www.benzinga.com/news/24/09/40885886/whats-going-on-with-childrens-place-stock-today">What&#8217;s Going On With Children&#8217;s Place Stock Today?</a></li>
</ul>
Image: u_3u3n7wt5sr from Pixabay

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Penny Stocks

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OPTT

Ocean Power Technologies Stock Climbs On Q1 Results: Details

Consolidated Net Income before non-cash depreciation expense was&nbsp;$14,693&nbsp;for the 2025 Fiscal First Half ended July 31, 2024 (February 1, 2024, through July 31, 2024).

InnSuites Hospitality Trust H1 Total Revenue Increase To An Approximately $4.1M

The company also announced that its Board of Directors has declared a cash distribution of&nbsp;$0.45&nbsp;per share for the&nbsp;third quarter&nbsp;2024. The distribution of&nbsp;$0.45&nbsp;per share will be payable on September 30, 2024 to shareholders of record on September 26, 2024.

BANX

ArrowMark Financial Reports Q2 2024 EPS Of $0.70

MicroStategy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) shares are trading lower in Monday's extended trading session after the company announced a private offering of $700 million of <a href="https://www.benzinga.com/pressreleases/24/09/b40886410/microstrategy-announces-proposed-private-offering-of-700-million-of-convertible-senior-notes">convertible senior notes. </a>
The Details: MicroStrategy announced it intends to offer $700 million aggregate principal amount of convertible senior notes due 2028 and also expects to grant to the initial purchasers of the notes an option to purchase up to an additional $105 million aggregate principal amount of the notes. 
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The company said it will use the proceeds from the offering to fund the conditional <a href="https://www.benzinga.com/pressreleases/24/09/b40886423/microstrategy-announces-conditional-full-redemption-of-6-125-senior-secured-notes-due-2028">full redemption</a> of $500 million of MicroStrategy&#8217;s outstanding 6.125% senior secured notes due 2028.
MicroStrategy said it will use the balance of the proceeds from the offering to purchase additional Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and for general corporate purposes. 
MicroStrategy shares fell nearly 5% in regular trading Monday after Canaccord Genuity maintained its Buy rating, but lowered its price target on the stock from $185 to $173.
MSTR Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, MicroStrategy shares are down 1.47% after-hours at $132.55 at the time of publication Monday.
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Russia&#8217;s army will soon become the world&#8217;s <a href="https://understandingwar.org/backgrounder/russian-offensive-campaign-assessment-september-15-2024">second-largest army </a>behind China, leapfrogging the size of the U.S. and India armies.
President Vladimir Putin on Monday ordered the army&#8217;s size to be increased by 180,000 troops to 1.5 million active servicemen, a move that would take its overall size to 2.38 million people, Reuters reported.
This is the third time since the war with Ukraine began in February 2022 that Russia expanded the size of its army. This is happening as Russian forces advance in eastern Ukraine and try to expel Ukrainian forces from Russia&#8217;s Kursk region.
Andrei Kartapolov, chairman of Russia&#8217;s lower house of parliament&#8217;s defence committee, said the army expansion is part of a plan to revamp the armed forces and increase their size to match the international situation and behavior of &#8220;our former foreign partners.&#8221;
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Since 2022, Putin has boosted the number of combat troops by 137,000 and then 170,000.
Russia has also mobilized over 300,000 soldiers in September and October 2022 in an exercise that prompted tens of thousands of draft-age men to leave the country.
The Kremlin said it has no new mobilization planned for now and will keep relying on volunteers signing up to fight in Ukraine.
Adding more troops to its army will require Russia to boost its defense budget and possibly expand the draft size or change the law to allow more women to work in the military.
Price Action: Defense contractors trended upward on Monday.
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<li>Lockheed Martin Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) edged up 0.54% to $572.92</li>
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Georgia is making sweeping changes to its hemp industry, with new regulations set to take full effect on <a href="https://www.benzinga.com/cannabis">Oct. 1, 2024.</a>
Governor Brian Kemp signed Bill 494 into law in late April, introducing strict guidelines on cannabis product sales, advertising, and store locations, The Telegraph<a href="https://www.macon.com/living/article292554219.html"> reported.</a>
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<h3 class="wp-block-heading">Age Restrictions Tightened</h3>
A major component of the new law is the introduction of an age restriction, banning the sale of CBD and cannabis products to anyone under 21. Governor Kemp raised the legal age in response to concerns about hemp products, particularly edibles, being marketed to resemble popular children&#8217;s snacks.
The law aims to address this issue directly by mandating that no product should be "attractive to children" or mimic any existing snack brand. To further safeguard minors, all cannabis products must now be "tamper-evident and child-resistant," ensuring extra layers of protection.
<h3 class="wp-block-heading">Hemp Stores Face New Location Rules</h3>
The law goes beyond product marketing, imposing new zoning restrictions on hemp stores across the state. 
Any retailer selling cannabis products must now be located at least 500 feet from schools—whether public or private—where elementary or secondary education is provided. 
<h3 class="wp-block-heading">Stores Will Pull Certain Edibles From Shelves</h3>
In a move that may disrupt some hemp retailers, Bill 494 bans the sale of CBD or cannabis-infused food products such as chocolates and alcoholic beverages. However, not all edibles are off-limits. 
Gummies, a popular form of CBD, will remain legal under the new law, as do oils that aren&#8217;t mixed into any type of food or drink.
For store owners, this means acting quickly to remove prohibited products from shelves. The law requires immediate compliance for any food-based CBD product, meaning that those who continue to sell banned items may face significant penalties.
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In the latest quarter, 9 analysts provided ratings for American Homes 4 Rent (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMH#NYSE">AMH</a>), showcasing a mix of bullish and bearish perspectives.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $42.11, a high estimate of $48.00, and a low estimate of $39.00. Surpassing the previous average price target of $39.00, the current average has increased by 7.97%.
<img src="https://www.benzinga.com/files/images/story/2024/1726520501_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive American Homes 4 Rent. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Steve Sakwa</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$42.00</td>
<td>$41.00</td>
</tr>
<tr>
<td>Anthony Paolone</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$43.00</td>
<td>$38.00</td>
</tr>
<tr>
<td>Julien Blouin</td>
<td>Goldman Sachs</td>
<td>Announces</td>
<td>Buy</td>
<td>$48.00</td>
<td>-</td>
</tr>
<tr>
<td>Steve Sakwa</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$41.00</td>
<td>$40.00</td>
</tr>
<tr>
<td>James Feldman</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$42.00</td>
<td>$36.00</td>
</tr>
<tr>
<td>Michael Goldsmith</td>
<td>UBS</td>
<td>Raises</td>
<td>Neutral</td>
<td>$40.00</td>
<td>$37.00</td>
</tr>
<tr>
<td>Nicholas Yulico</td>
<td>Scotiabank</td>
<td>Raises</td>
<td>Sector Outperform</td>
<td>$42.00</td>
<td>$41.00</td>
</tr>
<tr>
<td>Brad Heffern</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$42.00</td>
<td>$41.00</td>
</tr>
<tr>
<td>Steve Sakwa</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$39.00</td>
<td>$38.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to American Homes 4 Rent. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of American Homes 4 Rent compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of American Homes 4 Rent's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into American Homes 4 Rent's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/AMH/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on American Homes 4 Rent analyst ratings.</a>
<h2>Delving into American Homes 4 Rent's Background</h2>
American Homes 4 Rent is a real estate investment trust primarily focused on acquiring, operating, and leasing single-family homes as rental properties throughout the United States. The company's real estate portfolio is largely comprised of single-family properties in urban markets in the Southern and Midwestern regions of the U.S. American Homes 4 Rent's land holdings also represent a sizable percentage of its total assets in terms of value. The company derives the vast majority of its income in the form of rental revenue from single-family properties through short-term or annual leases. The firm's largest geographical markets include Dallas, Texas; Indianapolis, Indiana; Atlanta, Georgia; and Charlotte, North Carolina in terms of the number of properties in each.
<h3>Unraveling the Financial Story of American Homes 4 Rent</h3>
Market Capitalization Analysis: Above industry benchmarks, the company's market capitalization emphasizes a noteworthy size, indicative of a strong market presence.
Revenue Growth: American Homes 4 Rent's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 7.07%. This signifies a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Real Estate sector.
Net Margin: American Homes 4 Rent's net margin excels beyond industry benchmarks, reaching 21.76%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): American Homes 4 Rent's ROE excels beyond industry benchmarks, reaching 1.31%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 0.71%, the company showcases effective utilization of assets.
Debt Management: American Homes 4 Rent's debt-to-equity ratio is below the industry average at 0.71, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

9 Analysts Assess American Homes 4 Rent: What You Need To Know

Analysts' ratings for Chesapeake Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>) over the last quarter vary from bullish to bearish, as provided by 4 analysts.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated Chesapeake Energy and provided 12-month price targets. The average target is $109.0, accompanied by a high estimate of $118.00 and a low estimate of $105.00. Observing a downward trend, the current average is 3.11% lower than the prior average price target of $112.50. 
<img src="https://www.benzinga.com/files/images/story/2024/1726520495_0.png" alt="price target chart" />
<h2>Exploring Analyst Ratings: An In-Depth Overview</h2>
The perception of Chesapeake Energy by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Nitin Kumar</td>
<td>Mizuho</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$105.00</td>
<td>$111.00</td>
</tr>
<tr>
<td>Cameron Bean</td>
<td>Scotiabank</td>
<td>Lowers</td>
<td>Sector Perform</td>
<td>$105.00</td>
<td>$110.00</td>
</tr>
<tr>
<td>Mike Scialla</td>
<td>Stephens &amp; Co.</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$118.00</td>
<td>$117.00</td>
</tr>
<tr>
<td>Neal Dingmann</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$108.00</td>
<td>$112.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Chesapeake Energy. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Chesapeake Energy compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Chesapeake Energy's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Capture valuable insights into Chesapeake Energy's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/CHK/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Chesapeake Energy analyst ratings.</a>
<h2>Discovering Chesapeake Energy: A Closer Look</h2>
Chesapeake Energy Corp is a us-based exploration and production company. It is engaged in the acquisition, exploration, and development of properties for the production of oil, natural gas, and natural gas liquids from underground reservoirs. Geographically, the company focuses on areas of Marcellus, Northern Appalachian Basin in Pennsylvania; Haynesville, Northwestern Louisiana (Gulf Coast); and Eagle Ford, South Texas.
<h3>Key Indicators: Chesapeake Energy's Financial Health</h3>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
Revenue Challenges: Chesapeake Energy's revenue growth over 3 months faced difficulties. As of 30 June, 2024, the company experienced a decline of approximately -64.55%. This indicates a decrease in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Energy sector.
Net Margin: Chesapeake Energy's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of -45.13%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): Chesapeake Energy's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of -2.16%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): Chesapeake Energy's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of -1.64%, the company may face hurdles in achieving optimal financial performance.
Debt Management: Chesapeake Energy's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.2.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Key Takeaways From Chesapeake Energy Analyst Ratings

Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) has outperformed the market over the past 15 years by 6.75% on an annualized basis producing an average annual return of 18.45%. Currently, Alphabet has a market capitalization of $1.94 trillion. 
Buying $1000 In GOOGL: If an investor had bought $1000 of GOOGL stock 15 years ago, it would be worth $12,731.22 today based on a price of $157.94 for GOOGL at the time of writing.
<h3>Alphabet's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726520480_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.

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