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LinkedIn has reportedly agreed to pay $6.625 million to resolve a proposed class action alleging that the Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) unit inflated video ad view <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39975949/crowdstrike-ceo-george-kurtz-announces-over-97-of-windows-sensors-back-online-after-global-outag" rel="noreferrer noopener">counts to overcharge advertisers</a>.
A preliminary settlement was filed late Thursday in federal court in San Jose, California, and is pending approval by U.S. Magistrate Judge Susan van Keulen, Reuters reported.
LinkedIn denied any wrongdoing but agreed to make reasonable efforts for two years to hire an external auditor to review its ad metrics.
Advertisers, including TopDevz of Sacramento and Noirefy of Chicago, accused LinkedIn of inflating ad metrics by counting video ad &#8220;views&#8221; from users&#8217; LinkedIn apps, even if the videos played off-screen as users scrolled past.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39951461/markets-are-sounding-an-alarm-peter-schiff-warns-federal-reserve-should-cut-rates-b?itm_source=parsely-api" rel="noreferrer noopener">‘Markets Are Sounding An Alarm:' Peter Schiff Warns Federal Reserve Should Cut Rates Before Recession Hits</a>
The lawsuit was filed shortly after LinkedIn revealed in November 2020 that software bugs had been fixed, which had caused over 418,000 potential overcharges, mostly under $25, Reuters added.
Judge van Keulen dismissed the lawsuit in December 2021, and although the advertisers appealed, they paused the appeal to allow for mediation. The advertisers&#8217; lawyers may request up to $1.656 million, or 25% of the settlement amount, for legal fees.
The case is In re LinkedIn Advertising Metrics Litigation, U.S. District Court, Northern District of California, No. 20-08324, Reuters added.
Price Action: MSFT shares are trading higher by 2.16% to $427.44 at last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by IB Photography on Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/news/24/07/39975768/bill-ackmans-us-fund-ipo-target-slashed-by-90-as-pershing-square-specifically-disclaims-ceos-comment" target="_blank" rel="noreferrer noopener">Bill Ackman's US Fund IPO Target Slashed By 90% As Pershing Square ‘Specifically Disclaims' CEO's Comments</a></li>
</ul>

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MSFT

LinkedIn Agrees To Pay $6.625M To End Ad View Inflation Feud: Report

WIIM

MSBI

Midland States Bancorp shares are trading lower after the company reported worse-than-expected Q2 financial results.

AT&amp;T Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) shares have been volatile this week after the company reported fiscal second-quarter 2024 results with operating <a href="https://www.benzinga.com/topic/telecom">revenues of $29.8 billion</a>.
The telecom slightly missed the $29.9 billion analyst estimate, and an adjusted EPS of $0.57, <a href="https://www.benzinga.com/news/earnings/24/07/39929205/at-t-q2-earnings-strong-wireless-net-adds-higher-free-cash-flow-stable-annual-outlook">in line with expectations</a>. 
Despite the revenue miss, the stock has risen by 2% over the trailing five sessions, driven by several positive factors.
Read Also: <a href="https://www.benzinga.com/news/24/07/39986346/why-taiwan-semiconductor-manufacturing-company-shares-are-volatile-this-week">Why Taiwan Semiconductor Manufacturing Company Shares Are Volatile This Week</a>
The Dallas-based company added 997,000 wireless customers, significantly beating expectations with 419,000 postpaid phone net additions. This demonstrates growth in a key segment, suggesting effective customer acquisition strategies and competitive pricing, which appeal to budget-conscious consumers.
AT&amp;T&#8217;s postpaid churn rate improved to 0.85% from 0.95% last year, indicating higher customer retention and satisfaction. Lower churn rates are positive as they reduce the cost of acquiring new customers and stabilize revenue streams.
Adjusted EBITDA also increased to $11.3 billion from $11.1 billion the previous year, reflecting better operational efficiency. Free cash flow also improved to $4.6 billion from $4.2 billion, potentially providing the company with more flexibility to return value to shareholders through buybacks and dividends.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39963727/ford-stock-falls-after-q2-earnings-miss-rising-costs-analysts-cautious-with-core-to" target="_blank" rel="noreferrer noopener">Ford Stock Falls After Q2 Earnings Miss, Rising Costs: Analysts Cautious With ‘Core To Future Transition Underway&#8217;</a></li>
</ul>
<h3 class="wp-block-heading">How To Buy T Stock</h3>
By now you're likely curious about how to participate in the market for AT&amp;T &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so. 
In the the case of AT&amp;T, which is trading at $19.09 as of publishing time, $100 would buy you 5.24 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
Now Read: 
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<li><a href="https://www.benzinga.com/top-stories/24/07/39987142/feds-favorite-inflation-gauge-keeps-falling-but-fed-wants-durable-downward-trend-economist-says">Fed&#8217;s Favorite Inflation Gauge Keeps Falling But Fed Wants &#8216;Durable Downward Trend,&#8217; Economist Says</a></li>
</ul>
Image: Shutterstock

What's Going On With AT&T Stock? Telecom Adds 997,000 Wireless Customers In Q2

BJRI

BJ's Restaurants shares are trading lower after the company reported worse-than-expected Q2 revenue results. Also, Barclays maintained an Underweight rating on the stock and lowered its price target from $36 to $35.

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BABA

Watching Alibaba; Traders Circulate Jefferies Note Saying The New Service Fee Arrangement Is A Positive To CMR, "We View Service Fees Applied To Taobao And Tmall Is a Positive On Incremental Service Fees From Taobao' Expect Taobao Represents About 50% Of Total GMV. Service Fees For Tmall Merchants With A Big GMV Scale Should Pay More Vs Fixed Fees"

WRLD

World Acceptance shares are trading lower after the company reported worse-than-expected Q1 revenue results.

Sources close to Vice President Kamala Harris&#8216; campaign reveal that her team has begun to explore the cryptocurrency landscape as the <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39965409/will-barack-michelle-obama-endorse-vice-president-harris-crypto-bettors-think-yes-but-ther">2024 presidential race heats up</a>.
This move comes in the wake of President Biden&#8217;s decision <a href="https://www.benzinga.com/general/politics/24/07/39874057/biden-drops-out-of-2024-race-in-bombshell-announcement-it-has-been-the-greatest-honor-of-my-life">not to seek reelection</a> and his <a href="https://www.benzinga.com/news/24/07/39906117/im-watching-ya-kid-biden-emotionally-endorses-kamala-harris-for-2024-presidential-race">endorsement of Harris</a> as the Democratic Party&#8217;s nominee.
An unnamed source, who engaged with a member of Harris&#8217; campaign team, described the initial discussions as a &#8220;relatively high-level intro conversation.&#8221; 
&#8220;My impression is they get that this matters. They want to have positions on it&#8230; they&#8217;re going to take their time,&#8221; the source <a href="https://www.theblock.co/post/307760/kamala-harris-team-wants-to-take-a-position-on-crypto-source-says-as-outreach-to-the-industry-forges-on?utm_source=twitter&amp;utm_medium=social">told</a> The Block.
This outreach by Harris&#8217; team signifies a potential shift in the Democratic approach to cryptocurrency, which has been a contentious issue under the current administration. 
Kristin Smith, CEO of the Blockchain Association, expressed optimism about this development, stating, &#8220;I think there&#8217;s really a fresh opportunity here for her to show leadership from the top of the Democratic party.&#8221;
The crypto industry&#8217;s political significance is underscored by Moe Vela, a former senior advisor to Biden, who emphasized, &#8220;From a political perspective, I think it&#8217;s absolutely imperative, I mean, it&#8217;s just foolish for either campaign not to recognize the political power of 75 plus million potential voters.&#8221;
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39988312/elon-musks-x-axes-bitcoin-crypto-emojis-from-hashtags#google_vignette">Elon Musk&#8217;s X Axes Bitcoin, Crypto Emojis From Hashtags</a>
Why It Matters: Meanwhile, the Republican side sees former President Donald Trump positioning himself as <a href="https://www.msn.com/en-us/money/news/trumps-bitcoin-support-a-political-no-brainer-to-garner-votes-says-peter-schiff-promise-to-make-king-crypto-a-reserve-asset-wont-be-kept/ar-BB1qEbjs">pro-crypto</a>, having pledged to end what he calls an &#8220;unlawful and un-American crackdown&#8221; on the U.S. crypto industry.
Sheila Warren, CEO of the Crypto Council for Innovation, offered insight into what a Harris presidency might mean for crypto: &#8220;She is carving a new path forward, and there is no reason to believe that crypto policy is not going to be a part of that.&#8221;
As the political landscape evolves, the cryptocurrency industry watches closely, with some key players already making significant donations to campaigns. 
This heightened interest in crypto policy among presidential hopefuls reflects the growing importance of digital assets in the American financial and political ecosystem.
The intersection of politics and cryptocurrency will be a key topic at Benzinga&#8217;s upcoming <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39985014/87-of-bitcoin-conference-speakers-are-men-why-are-there-so-few-women">87% Of Bitcoin Conference Speakers Are Men — Why Are There So Few Women?</a></li>
</ul>
Image: Shutterstock

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

Cryptocurrency

Vice President Harris' Team Explores Crypto Landscape Ahead Of 2024 Election: 'They Get This Matters'

AMTB

Amerant Bancorp shares are trading lower. Janney Montgomery Scott downgraded the stock from Buy to Neutral.

Financial giants have made a conspicuous bullish move on First Solar. Our analysis of options history for First Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) revealed 19 unusual trades.
Delving into the details, we found 52% of traders were bullish, while 31% showed bearish tendencies. Out of all the trades we spotted, 11 were puts, with a value of $619,442, and 8 were calls, valued at $285,100.
<h3>Expected Price Movements</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $135.0 to $300.0 for First Solar during the past quarter. 
<h3>Insights into Volume &amp; Open Interest</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for First Solar's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of First Solar's whale activity within a strike price range from $135.0 to $300.0 in the last 30 days. 
<h3>First Solar 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722011447_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>FSLR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$3.4</td>
<td>$2.85</td>
<td>$3.4</td>
<td>$135.00</td>
<td>$101.9K</td>
<td>22.5K</td>
<td>1.0K</td>
</tr>
<tr>
<td>FSLR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$3.45</td>
<td>$3.4</td>
<td>$3.4</td>
<td>$135.00</td>
<td>$85.0K</td>
<td>22.5K</td>
<td>450</td>
</tr>
<tr>
<td>FSLR</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$32.0</td>
<td>$31.1</td>
<td>$32.0</td>
<td>$195.00</td>
<td>$80.0K</td>
<td>45</td>
<td>25</td>
</tr>
<tr>
<td>FSLR</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>08/02/24</td>
<td>$9.5</td>
<td>$8.55</td>
<td>$8.98</td>
<td>$230.00</td>
<td>$71.8K</td>
<td>568</td>
<td>214</td>
</tr>
<tr>
<td>FSLR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$3.65</td>
<td>$3.4</td>
<td>$3.4</td>
<td>$135.00</td>
<td>$68.0K</td>
<td>22.5K</td>
<td>200</td>
</tr>
</tbody>
</table>

<h3>About First Solar</h3>
First Solar designs and manufactures solar photovoltaic panels, modules, and systems for use in utility-scale development projects. The company's solar modules use cadmium telluride to convert sunlight into electricity. This is commonly called thin-film technology. First Solar is the world's largest thin-film solar module manufacturer. It has production lines in Vietnam, Malaysia, the United States, and India.
Having examined the options trading patterns of First Solar, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>First Solar's Current Market Status</h3>
<ul>
<li>Currently trading with a volume of 983,700, the FSLR's price is up by 5.66%, now at $228.42. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 4 days.</li>
</ul>
<h3>What Analysts Are Saying About First Solar</h3>
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $287.8.
<ul>
<li>An analyst from Susquehanna persists with their Positive rating on First Solar, maintaining a target price of $285. </li>
<li>An analyst from JP Morgan has decided to maintain their Overweight rating on First Solar, which currently sits at a price target of $282. </li>
<li>An analyst from Baird has decided to maintain their Outperform rating on First Solar, which currently sits at a price target of $307. </li>
<li>In a cautious move, an analyst from RBC Capital downgraded its rating to Outperform, setting a price target of $315. </li>
<li>An analyst from Piper Sandler has decided to maintain their Overweight rating on First Solar, which currently sits at a price target of $250. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest First Solar options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

FSLR

A Closer Look at First Solar's Options Market Dynamics

Investors with a lot of money to spend have taken a bullish stance on KLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with KLAC, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 11 uncommon options trades for KLA.
This isn't normal.
The overall sentiment of these big-money traders is split between 54% bullish and 18%, bearish.
Out of all of the special options we uncovered, 8 are puts, for a total amount of $277,718, and 3 are calls, for a total amount of $102,315.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $760.0 to $940.0 for KLA over the last 3 months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in KLA's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to KLA's substantial trades, within a strike price spectrum from $760.0 to $940.0 over the preceding 30 days.
<h3>KLA Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722011442_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>KLAC</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>07/26/24</td>
<td>$14.0</td>
<td>$9.2</td>
<td>$12.0</td>
<td>$790.00</td>
<td>$45.6K</td>
<td style="text-align: right;">78</td>
<td style="text-align: right;">144</td>
</tr>
<tr>
<td>KLAC</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>07/26/24</td>
<td>$46.4</td>
<td>$38.1</td>
<td>$41.89</td>
<td>$820.00</td>
<td>$41.8K</td>
<td style="text-align: right;">59</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>KLAC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/26/24</td>
<td>$8.0</td>
<td>$6.2</td>
<td>$6.2</td>
<td>$790.00</td>
<td>$39.6K</td>
<td style="text-align: right;">78</td>
<td style="text-align: right;">215</td>
</tr>
<tr>
<td>KLAC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$35.9</td>
<td>$33.6</td>
<td>$35.9</td>
<td>$940.00</td>
<td>$39.4K</td>
<td style="text-align: right;">101</td>
<td style="text-align: right;">11</td>
</tr>
<tr>
<td>KLAC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$76.9</td>
<td>$69.1</td>
<td>$73.81</td>
<td>$820.00</td>
<td>$36.9K</td>
<td style="text-align: right;">217</td>
<td style="text-align: right;">5</td>
</tr>
</tbody>
</table>

<h3>About KLA</h3>
KLA is one of the largest semiconductor wafer fabrication equipment, or WFE, manufacturers in the world. It specializes in the market segment of semiconductor process control, wherein machines inspect semiconductor wafers during research and development and manufacturing for defects and verify precise measurements. In this section of the market, KLA holds a majority share. It also has a small exposure to the etch and deposition segments of the WFE market. It counts as top customers the largest chipmakers in the world, including TSMC and Samsung.
<h3>Present Market Standing of KLA</h3>
<ul>
<li>Currently trading with a volume of 311,287, the KLAC's price is up by 3.17%, now at $787.0. </li>
<li>RSI readings suggest the stock is currently is currently neutral between overbought and oversold.</li>
<li>Anticipated earnings release is in 89 days.</li>
</ul>
<h3>What Analysts Are Saying About KLA</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $872.6.
<ul>
<li>An analyst from Stifel persists with their Buy rating on KLA, maintaining a target price of $875. </li>
<li>An analyst from Cantor Fitzgerald persists with their Neutral rating on KLA, maintaining a target price of $950. </li>
<li>An analyst from Evercore ISI Group persists with their Outperform rating on KLA, maintaining a target price of $900. </li>
<li>An analyst from Goldman Sachs has decided to maintain their Buy rating on KLA, which currently sits at a price target of $838. </li>
<li>An analyst from Barclays persists with their Equal-Weight rating on KLA, maintaining a target price of $800. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest KLA options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

KLAC

Looking At KLA's Recent Unusual Options Activity

Deep-pocketed investors have adopted a bearish approach towards Costco Wholesale (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in COST usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 25 extraordinary options activities for Costco Wholesale. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 32% leaning bullish and 36% bearish. Among these notable options, 10 are puts, totaling $1,038,149, and 15 are calls, amounting to $2,890,138.
<h3>Predicted Price Range</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $225.0 to $900.0 for Costco Wholesale during the past quarter. 
<h3>Volume &amp; Open Interest Trends</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Costco Wholesale's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Costco Wholesale's significant trades, within a strike price range of $225.0 to $900.0, over the past month.
<h3>Costco Wholesale Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722011437_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>COST</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$168.3</td>
<td>$164.3</td>
<td>$164.3</td>
<td>$700.00</td>
<td>$2.1M</td>
<td style="text-align: right;">249</td>
<td style="text-align: right;">130</td>
</tr>
<tr>
<td>COST</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>07/26/24</td>
<td>$53.4</td>
<td>$47.0</td>
<td>$49.74</td>
<td>$860.00</td>
<td>$392.8K</td>
<td style="text-align: right;">152</td>
<td style="text-align: right;">84</td>
</tr>
<tr>
<td>COST</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/26/24</td>
<td>$65.25</td>
<td>$62.95</td>
<td>$62.95</td>
<td>$875.00</td>
<td>$220.3K</td>
<td style="text-align: right;">157</td>
<td style="text-align: right;">66</td>
</tr>
<tr>
<td>COST</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>07/26/24</td>
<td>$65.8</td>
<td>$58.0</td>
<td>$63.0</td>
<td>$875.00</td>
<td>$189.0K</td>
<td style="text-align: right;">157</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>COST</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$41.5</td>
<td>$41.3</td>
<td>$41.5</td>
<td>$820.00</td>
<td>$124.5K</td>
<td style="text-align: right;">241</td>
<td style="text-align: right;">33</td>
</tr>
</tbody>
</table>

<h3>About Costco Wholesale</h3>
Costco operates a membership-based, no-frills retail model, predicated on offering a select product assortment in bulk quantities at bargain prices. The firm avoids maintaining costly product displays by keeping inventory on pallets and limits distribution expenses by storing its inventory at point of sale in the warehouse. Given Costco's frugal cost structure, the firm is able to price its merchandise below competing retailers, driving high sales volume per warehouse and allowing the retailer to generate strong profits on thin margins. Costco operates over 600 warehouses in the United States and enjoys over 60% market share in the domestic warehouse club industry. Internationally, Costco operates another 270 warehouses, primarily in markets such as Canada, Mexico, Japan, and the UK.
After a thorough review of the options trading surrounding Costco Wholesale, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Present Market Standing of Costco Wholesale</h3>
<ul>
<li>With a trading volume of 575,283, the price of COST is up by 0.5%, reaching $820.0.</li>
<li>Current RSI values indicate that the stock is is currently neutral between overbought and oversold.</li>
<li>Next earnings report is scheduled for 60 days from now.</li>
</ul>
<h3>What Analysts Are Saying About Costco Wholesale</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $906.0.
<ul>
<li>An analyst from Telsey Advisory Group persists with their Outperform rating on Costco Wholesale, maintaining a target price of $925. </li>
<li>Maintaining their stance, an analyst from Barclays continues to hold a Equal-Weight rating for Costco Wholesale, targeting a price of $830. </li>
<li>An analyst from TD Cowen has decided to maintain their Buy rating on Costco Wholesale, which currently sits at a price target of $925. </li>
<li>Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on Costco Wholesale with a target price of $950. </li>
<li>An analyst from Telsey Advisory Group persists with their Outperform rating on Costco Wholesale, maintaining a target price of $900. </li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Costco Wholesale, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

COST

Costco Wholesale Options Trading: A Deep Dive into Market Sentiment

Mizuho analyst Ben Chaiken maintains Royal Caribbean Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>) with a Outperform and raises the price target from $168 to $195.

Price Target

Mizuho Maintains Outperform on Royal Caribbean Gr, Raises Price Target to $195

Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) has outperformed the market over the past 5 years by 3.46% on an annualized basis producing an average annual return of 16.11%. Currently, Spotify Technology has a market capitalization of $65.76 billion. 
Buying $1000 In SPOT: If an investor had bought $1000 of SPOT stock 5 years ago, it would be worth $2,127.95 today based on a price of $327.47 for SPOT at the time of writing.
<h3>Spotify Technology's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722011424_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.

SPOT

If You Invested $1000 In This Stock 5 Years Ago, You Would Have $2,100 Today

Eagle Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXP#NYSE">EXP</a>) has outperformed the market over the past 5 years by 9.67% on an annualized basis producing an average annual return of 22.31%. Currently, Eagle Materials has a market capitalization of $7.98 billion. 
Buying $100 In EXP: If an investor had bought $100 of EXP stock 5 years ago, it would be worth $282.39 today based on a price of $235.62 for EXP at the time of writing.
<h3>Eagle Materials's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722011419_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.

$100 Invested In Eagle Materials 5 Years Ago Would Be Worth This Much Today

Amazon's artificial intelligence virtual assistant, Alexa, is now in millions of households worldwide, yet the smart technology is costing Amazon billions. Here's why Alexa is a black hole in Amazon's profits.&nbsp;
&nbsp;In 2014, Amazon launched its first Echo smart speaker with Amazon's innovative virtual assistant, Alexa. But it was in 2017 that the world started to pay attention to this smart speaker, and thanks to the third-party products and integrations, this smart speaker was popular across the globe.&nbsp;
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For example, in May 2023, Yahoo Finance reported that the e-commerce giant Amazon had revealed to the public that it had sold more than 500 million Echo devices and continued unveiling four new Echo products. Statista found that out of all the smart speakers available in the U.S. market, an overwhelming 65% of consumers chose the Echo speakers over other brands like <a href="https://www.benzinga.com/news/24/07/39923696/as-google-searchs-growth-outpaces-that-of-youtube-alphabet-cfo-says-really-pleased-with-platform-her">Google</a> Home or the Apple HomePod. That's just in the U.S.; in the United Kingdom, around 73% of people own an Amazon Echo. So, with such stellar global sales, appearances on television, star-studded marketing, and a product that is instantly recognizable, why are these smart speakers costing Amazon billions?&nbsp;
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The Wall Street Journal first reported on the loss using unnamed sources and internal documents that revealed that between 2017 and 2021, the online retail giant had lost over $25 billion in profits from its Echo speakers and Kindles. While these smart speakers may be in millions of households, they are not being used for what<a href="https://www.benzinga.com/markets/equities/24/07/39898236/jeff-bezos-era-downstream-impact-losing-its-mojo-amazon-ceo-andy-jassy-is-reportedly-rethinking-"> Amazon</a> had originally hoped. This is certainly not the case. During the smart speaker's launch in 2014, Amazon took a risk and sold the devices at a pittance, hoping this would move large volumes of stock, which it did. The only problem is that people were not using the devices as the brand had hoped.&nbsp;
Trending: Don&#8217;t miss out on the next Nvidia &#8211;<a href="https://www.benzinga.com/money/fundrise-innovation-fund"> you can invest in the future of AI for only $10.</a>
The hope for these smart speakers was to encourage people to buy more goods on Amazon with the assistance of Alexa because of the "ease" of purchase. These hopes were dashed when the retail giant realized that people were using these smart speakers mainly for the free features like setting alarms and checking the weather. A former Amazon employee had candidly told the Wall Street Journal, "We worried we've hired 10,000 people and we've built a smart timer." It wasn't just the Echo speakers and Kindle devices that have caused a financial headache for the online retailer. Other electronic devices like the Fire TV Sticks and video doorbells have also been a financial drain on the company, and the current CEO, Andy Jassy, is determined to fix this problem.&nbsp;
How is Jassy going to fix this problem? By charging a new monthly subscription that is expected to launch this summer. Because Echo devices are sold at or below cost, Jassy hopes that adding a subscription will result in an additional direct revenue stream. Amazon engineers had told the Wall Street Journal that the company is "focused on the value we create when customers use our services, not just when they buy our devices," and added, "Our Devices &amp; Services organization has established numerous profitable businesses for Amazon and is well-positioned to continue doing so going forward."&nbsp;
In September last year, Amazon announced it was working on the latest Alexa. However, insider reports have revealed that neither the device nor the technology is even close to being ready due to a lack of data. This new Alexa device could be the answer to making a profit off the devices.&nbsp;
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Hey Alexa, Why Are You Costing Amazon Billions?

Alabama lawmakers green-lighted the medical marijuana program in 2021, but litigation over licenses caused delays in license allocation, leaving patients in need of the plant on standby for three years.
"This delay is not just an administrative failure but a critical issue impacting the health and well-being of countless individuals in our state." That's according to Alabama State Sen. Merika Coleman represents Senate District 19 and other cannabis activists and advocates, who remain tireless in their fight for the launch of the medical cannabis market.
In his <a href="https://www.alreporter.com/2024/07/25/opinion-senator-urges-movement-on-cannabis-legislation/">op-ed</a> published in Alabama Political Reporter, Sen. Coleman, whose father – "a real-life American hero, a wheelchair-bound disabled veteran who fought in Desert Storm I -needs medical cannabis to alleviate chronic pain, asked the Alabama Medical Cannabis Commission (AMCC) that was supposed to be awarded licenses by the end of 2023, or at the latest 2024, "what went wrong?"
He listed four critical issues that AMCC needs to address as it "failed to suffer Alabamians," including:
<ul>
<li>The commission didn't follow Alabama Code 20-2A-50's guidelines;</li>
<li>The applicants were not aware that the system used by AMCC could not accept application materials that exceeded 10MB;</li>
<li>Applicants were approved to advance through the licensing process regardless of the initial pass/fail criteria; and</li>
<li>AMCC allegedly breached Alabama&#8217;s Open Meetings Act during one of its three attempts to issue licenses by entering into an executive session to evaluate businesses before granting rights.</li>
</ul>
"These issues have led to a protracted judicial process, including multiple hearings and temporary restraining orders," Coleman wrote. "Applicants are now demanding transparency and accountability, seeking discovery to uncover the commission's operational shortcomings."
Read Also: <a href="https://www.benzinga.com/markets/cannabis/23/09/34621250/will-alabama-governor-answer-the-call-coalition-urges-special-session-to-amend-medical-marijuana">Will Alabama Governor Answer The Call? Coalition Urges Special Session To Amend Medical M</a><a href="https://www.benzinga.com/markets/cannabis/23/09/34621250/will-alabama-governor-answer-the-call-coalition-urges-special-session-to-amend-medical-marijuana">arijuana Laws</a>
<h3 class="wp-block-heading">Cannabis Advocates And Activists Seek To End The Legal Saga</h3>
That said, cannabis advocates and activists are not sitting on one's hands either. The Patients Coalition for Medical Cannabis Alabama gathered on Thursday in Daphne at the Southern Cancer Center to urge the parties behind the lawsuits that are an obstacle to the statewide distribution of medical cannabis.
"It's a valuable drug," Dr. Michael Meshad, Medical Oncologist at Southern Cancer Center, said as <a href="https://www.wkrg.com/alabama-news/medical-cannabis-advocates-speak-out-as-lawsuits-delay-the-issuing-of-licenses/">reported</a> by WKRG. "It needs to be available, regulated, and reliable. And right now, we're having to get patients to get it off the street, which is unacceptable."
Amanda Taylor, the director of Patients Coalition for Medical Cannabis Alabama, seconded Meshad. "I'm here today, pleading with people to withdraw lawsuits that are preventing patients from receiving medication because of corporate greed," Taylor said.
So far, the AMCC managed to award, but not issue licenses to businesses that have applied to enter the state's medical market.
In December 2023, the Alabama cannabis regulator <a href="https://www.benzinga.com/markets/cannabis/23/12/36067816/alabamas-third-attempt-to-set-up-its-medical-cannabis-industry-20-licenses-granted-for-now">awarded 20 medical cannabis licenses</a> for the production, distribution, dispensing and testing of medical marijuana (MMJ), as well as five of the most coveted permits – the integrated facility licenses, which allow for <a href="https://www.benzinga.com/markets/cannabis/23/12/36220654/alabama-regulator-grants-most-coveted-medical-cannabis-licenses-to-five-applicants-as-legal-dust">vertical integration statewide</a>.
However, subsequent restraining orders issued by Judge Anderson prevent the <a href="https://www.benzinga.com/markets/cannabis/24/01/36510746/third-time-was-not-the-charm-alabama-judge-blocks-medical-marijuana-permits">Alabama Medical Cannabis Commission (AMCC) from issuing licenses.</a>
In July, Judge James Anderson who has been overseeing the case for years now, let the commission to advance <a href="https://www.wkrg.com/alabama-news/judge-rules-next-steps-for-alabama-medical-cannabis-commission/">with its investigative hearings.</a>
In the meantime, the state legislature has separately attempted to streamline the licensing process. <a href="https://legiscan.com/AL/bill/HB390/2024">HB390</a> from Danny Crawford (R) was <a href="https://www.benzinga.com/markets/cannabis/24/04/38315665/gop-bill-on-alabama-cannabis-regulators-duties-heads-to-senate-as-licensing-saga-continues">enacted into law</a> earlier this year. It seeks to clarify confusion related to the AMCC working with the Alabama Department of Agriculture and Industries (ADAI) on awarding distribution licenses.
Cannabis regulation will be a hot topic at the upcoming Benzinga Cannabis Capital Conference in Chicago this Oct. 8-9. Join us to get more insight into what the wave of weed legalization means for the future of investing in the industry. Hear directly from top executives, investors, advocates and policymakers. <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">Get your tickets now</a> before prices go up by following <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">this link</a>. 
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Cannabis

Government

Regulations

Politics

'Real-Life American Hero' And Veteran Can't Get His Medicine As Alabama Medical Cannabis Legal Saga Continues, Activists Say Enough Already

Mizuho analyst Maheep Mandloi maintains GE Vernova (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>) with a Outperform and raises the price target from $186 to $208.

Mizuho Maintains Outperform on GE Vernova, Raises Price Target to $208

Shares of New York Community Bancorp, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYCB#NYSE">NYCB</a>) were climbing on Friday, after the company reported its second-quarter results. The company had agreed in May to sell around <a href="https://www.benzinga.com/markets/equities/24/05/38837953/why-is-new-york-community-bancorp-stock-higher-premarket-wednesday">$5 billion in mortgage warehouse loans to</a> JPMorgan Chase &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>).
The results came amid an <a href="https://www.benzinga.com/earnings">exciting earnings season</a>. Here are some key analyst takeaways.
JPMorgan On New York Community Bancorp
Analyst Steven Alexopoulos reiterated a Neutral rating, while reducing the price target from $12.50 to $10.50.
New York Community Bancorp reported a larger-than-expected loss for the second quarter, while "fairly meaningfully" lowering its baseline forecasts for 2024-2026 PTPP (pre-tax pre-provision profit), a quarter after the new management laid out strategic targets, Alexopoulos said in a note.
"With the baseline forecasts for 2024-2026 provision having also increased versus the prior quarter, the second quarter results largely reaffirmed our prior view that the credit risk profile of the company remains elevated," the analyst wrote. The company is unlikely to reach peer-level of profitability by 2026, he added.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
Wedbush On New York Community Bancorp
Analyst David Chiaverini maintained a Neutral rating and price target of $10.50.
New York Community Bancorp reported a weaker-than-expected quarter and lowered its near- and long-term guidance, Chiaverini said. 
"2024 continues to be a bumpy transition year for NYCB, and along with earnings, the company announced that it would be divesting its Flagstar mortgage servicing and third party origination platform in a sale to Mr. Cooper for $1.4 billion," he added.
While deposit growth was positive is the second quarter, most of it was generated on the interest-bearing side, the analyst stated. "The credit story remains fluid with large sequential increases in both net charge-offs and nonperforming loans," he further wrote.
NYCB Price Action: Shares of New York Community Bancorp were up 3.49% to $10.98 at the time of publication on Friday.
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Photo: Shutterstock

Analyst Color

Earnings

Reiteration

Movers

NYCB

New York Community Bancorp's 'Credit Story Remains Fluid': Analysts React To Q2 Results

Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) shares are trading lower today. On Thursday, the California Supreme Court <a href="https://www.uber.com/newsroom/prop-22-upheld/" target="_blank" rel="noreferrer noopener">upheld </a>Proposition 22, affirming the decision for the rideshare companies to consider drivers as independent contractors.
In November 2020, California voters approved Proposition 22, a statewide ballot measure that protected the ability of app-based rideshare and food delivery drivers to work as independent contractors with access to guaranteed earnings and new benefits. As independent contractors, drivers maintain control over when, where and how long they work.
Since its enactment, Prop 22 has benefitted millions of drivers and couriers on platforms like Uber, which has provided over $1 billion in direct benefits.
The California Supreme Court&#8217;s ruling is a significant win for the ride-hailing industry, which argued that requiring companies to classify drivers as employees could lead to service cutbacks or termination in the state, reported Reuters.
Read: <a target="_blank" href="https://www.benzinga.com/markets/asia/24/07/39681081/ubers-hong-kong-operations-in-limbo-as-government-plans-regulation-for-ride-hailing-services" rel="noreferrer noopener">Uber&#8217;s Hong Kong Operations In Limbo As Government Plans Regulation For Ride-Hailing Services</a>
The court rejected a lawsuit from the Service Employees International Union (SEIU) and four drivers challenging the constitutionality of Proposition 22. This 2020 measure maintains drivers&#8217; contractor status while offering some benefits.
Uber said the ruling upheld &#8220;the will of the nearly 10 million Californians who voted to deliver historic benefits and protections to drivers, while protecting their independence.&#8221;
Earlier in the month, Uber introduced&nbsp;new nautical experiences designed to enhance tourists&#8217; adventures across Europe. Among these offerings is&nbsp;Uber Yacht, which will debut in Ibiza this August and provide an <a target="_blank" href="https://www.benzinga.com/news/24/07/39602700/ubers-latest-wave-launches-luxury-yacht-and-boat-rides-across-european-destinations" rel="noreferrer noopener">affordable luxury yacht experience</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/39779775/uber-loses-vat-lawsuit-for-rivals-outside-london" rel="noreferrer noopener">Uber Loses VAT Lawsuit For Rivals Outside London</a>
UBER stock rose around 38% in the last twelve months. Investors can gain exposure to the stock via IShares Trust IShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>) and Franklin Disruptive Commerce ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BUYZ#BATS">BUYZ</a>).
Price Action: UBER shares are down 0.89% at $65.16 at the last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock
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BUYZ

iShares Dow Jones Transportation Average Index Fund

UBER

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Lake Street analyst Jacob Stephan initiates coverage on Dave (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAVE#NASDAQ">DAVE</a>) with a Buy rating and announces Price Target of $53.

Initiation

DAVE

Lake Street Initiates Coverage On Dave with Buy Rating, Announces Price Target of $53

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
<div><img src="https://investorplace.com/wp-content/uploads/2019/09/bankruptcy.jpg" alt='A green road sign reads "Bankruptcy Next Exit" in front of a cloudy blue sky.' width="1600" height="900"><div>Source: Shutterstock</div></div>
Retail drugstore chain Rite Aid (NYSE:<a href="https://investorplace.com/stock-quotes/rad-stock-quote/">RAD</a>) is the latest U.S. company to prepare a bankruptcy filing amid a wave of corporate failures this year.
Indeed, multiple media outlets are reporting that Rite Aid, one of the largest pharmacy chains in America, is <a href="https://www.wsj.com/articles/rite-aid-planning-to-shut-down-hundreds-of-stores-in-bankruptcy-de7967db" target="_blank">planning to file for Chapter 11 bankruptcy protection</a> from its creditors and close as many as 500 retail outlets. The company, which has 2,100 stores nationwide, plans to sell the rest of its retail locations or let creditors take control of them.
This <a href="https://www.nbcnews.com/business/business-news/rite-aid-drugstore-chain-may-sell-500-stores-bankruptcy-plan-rcna117407" target="_blank">bankruptcy plan</a> comes as Rite Aid teeters under $3.3 billion of debt and struggles with declining sales. The company has said that it isn&rsquo;t generating enough cash to service its current debt obligations.
RAD stock has declined more than 90% over the last 12 months and currently trades for around 57 cents per share, putting it deep down on the penny stock league tables.
<h2>Notable Names File for Chapter 11 Bankruptcy</h2>
Rite Aid is the latest in a series of U.S. companies &mdash; notably retailers &mdash; that have filed for Chapter 11 bankruptcy in recent months. Other names that have <a href="https://www.thestreet.com/retailers/another-popular-u-s-retailer-files-an-unexpected-bankruptcy" target="_blank">sought protection from creditors</a> include Bed Bath &amp; Beyond (OTCMKTS:<a href="https://investorplace.com/stock-quotes/bbbyq-stock-quote/">BBBYQ</a>), Party City (OTCMKTS:<a href="https://investorplace.com/stock-quotes/prtyq-stock-quote/">PRTYQ</a>), Tuesday Morning (OTCMKTS:<a href="https://investorplace.com/stock-quotes/tuemq-stock-quote/">TUEMQ</a>) and David&rsquo;s Bridal. Many of these companies overbuilt and overspent during the pandemic, taking on debt only to see their sales slow.
Bankruptcies appear to be accelerating with several smaller companies filing for Chapter 11 in recent days as well, including retailer Noble House, Elmer Buchta Trucking&nbsp;and MV Realty. In August, trucking giant Yellow (OTCMKTS:<a href="https://investorplace.com/stock-quotes/yellq-stock-quote/">YELLQ</a>) also <a href="https://www.reuters.com/business/autos-transportation/us-trucking-firm-yellow-files-bankruptcy-after-loading-up-debt-2023-08-07/" target="_blank">filed for bankruptcy</a>, putting 30,000 employees out of work and sending shockwaves through the stock market.
According to statistics from the Administrative Office of the U.S. Courts, the <a href="https://www.uscourts.gov/news/2023/07/31/bankruptcy-filings-rise-10-percent#:~:text=According%20to%20statistics%20released%20by,year%20ending%20June%2030%2C%202023." target="_blank">number of business bankruptcies</a> filed in America rose 23% in the 12 months ended June 30 of this year.
<h2>Declining Sales and Labor Unrest</h2>
These bankruptcy filings come amid a background of declining consumer spending and <a href="https://www.cnn.com/videos/world/2023/09/17/exp-uaw-labor-union-strikes-intv-logan-091705aseg2-cnni-us.cnn" target="_blank">labor unrest across the country</a>. Unions representing groups as diverse as Hollywood actors and automotive workers are currently walking picket lines throughout the United States. Earlier this year, <a href="https://www.cnn.com/2023/07/15/business/united-airlines-pilots-deal/index.html" target="_blank">airline pilots wrung big concessions</a> from major carriers, with pilots at United Airlines (NASDAQ:<a href="https://investorplace.com/stock-quotes/ual-stock-quote/">UAL</a>) securing pay increases of up to 40% over four years. A major labor strike was <a href="https://www.nbcnews.com/business/business-news/ups-workers-approve-new-contract-hard-fought-pay-safety-gains-rcna100466" target="_blank">narrowly averted</a> at United Parcel Service (NYSE:<a href="https://investorplace.com/stock-quotes/ups-stock-quote/">UPS</a>) this summer.
As workers flex their bargaining muscles, companies are struggling with a decline in consumer spending amid high inflation and elevated interest rates used to lower consumer prices. Costco (NASDAQ:<a href="https://investorplace.com/stock-quotes/cost-stock-quote/">COST</a>) is the latest retailer to note that consumers are <a href="https://www.cnbc.com/2023/09/26/costco-cost-earnings-q4-2023.html" target="_blank">spending less on big-ticket purchases</a> and discretionary items as they focus on essentials such as groceries. Earlier this week, the Conference Board reported that consumer confidence has <a href="https://www.reuters.com/markets/us/us-consumer-confidence-ebbs-september-2023-09-26/" target="_blank">fallen to a four-month low</a> amid rising gas prices and interest rates charged on home mortgages.
The decline in consumer confidence was felt most strongly by people who earn $50,000 or more per year, according to the Conference Board. Many economists are still predicting that the U.S. economy will <a href="https://fortune.com/2023/09/01/recession-2024-likely-corporate-debt-strategist-warns/" target="_blank">fall into a recession in 2024</a>, a development that could lead to more bankruptcy filings among corporate America.
<h2>What&rsquo;s Next?</h2>
Rite Aid is expected to officially file for Chapter 11 bankruptcy in the coming days. That will be bad news for any shareholders who are still holding onto RAD stock. However, Rite Aid is unlikely to be the last well-known company to seek creditor protection this year as consumer spending slows sharply amid a decelerating economy. Expect <a href="https://www.visualcapitalist.com/visualized-u-s-corporate-bankruptcies-on-the-rise/" target="_blank">more companies to go under</a> in the coming months.
On the date of publication, Joel Baglole did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://na01.safelinks.protection.outlook.com/?url=https%3A%2F%2Finvestorplace.com%2Fcorporate%2Finvestorplace-publishing-guidelines%2F&amp;data=05%7C01%7C%7C04c34d215d76473a4eb008db796f525e%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C638237291244010581%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&amp;sdata=%2BYGWj9yNgQgdyF2DC1D1%2BeHsQhIV83fMm46sU8o5dPw%3D&amp;reserved=0" target="_blank">Publishing Guidelines.</a>
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Joel Baglole has been a business journalist for 20 years. He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia.
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The post <a href="https://investorplace.com/2023/09/bankruptcy-news-2023-8-companies-that-have-filed-for-ch-11-this-year/">Bankruptcy News 2023: 8 Companies That Have Filed for Ch. 11 This Year</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Bankruptcy News 2023: 8 Companies That Have Filed for Ch. 11 This Year

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Press Releases

SHAREHOLDER ALERT: The Gross Law Firm Notifies Shareholders of Party City Holdco Inc. of a Class Action Lawsuit and a Lead Plaintiff Deadline of October 2, 2023 - (OTC Other: PRTYQ)

DEADLINE ALERT for PRTYQ, HAYW, APLS, LYV: Law Offices of Howard G. Smith Reminds Investors of Class Actions on Behalf of Shareholders

PARTY CITY SHAREHOLDER NOTICE: Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Party City To Contact Him Directly To Discuss Their Options

SHAREHOLDER ALERT: Levi & Korsinsky Notifies Party City Holdco Inc.(PRTYQ) Investors of a Class Action Lawsuit and Upcoming Deadline

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Party City Holdco - PRTYQ

PARTY CITY DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors that a Class Action Lawsuit Has Been Filed Against Party City Holdco, Inc. and Encourages Investors to Contact the Firm

PRTY IMPORTANT MONDAY DEADLINE: ROSEN, LEADING INVESTOR COUNSEL, Encourages Party City Holdco Inc. Investors with Losses in Excess of $100K to Secure Counsel Before Important October 2 Deadline in Securities Class Action – PRTY, PRTYQ

PRTY DEADLINE TOMORROW: ROSEN, A TOP RANKED LAW FIRM, Encourages Party City Holdco Inc. Investors with Losses in Excess of $100K to Secure Counsel Before Important October 2 Deadline in Securities Class Action – PRTY, PRTYQ

SHAREHOLDER ALERT: The Law Offices of Vincent Wong Remind Party City Investors of a Lead Plaintiff Deadline of October 2, 2023

APLS

HAYW

PRTY

Party City, Creditors In Talks To Spin Off Balloon Business

<ul>
	<li>DoorDash Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NYSE">DASH</a>) has&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/03/b31473866/doordash-announces-new-retail-partnerships-and-shopping-features-to-help-consumers-get-what-they-n" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">entered into retail partnerships&nbsp;</a>with&nbsp;Lush Cosmetics, Victoria&#39;s Secret&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSCO#NYSE">VSCO</a>),&nbsp;and&nbsp;Party City Holdco Inc.(OTC:<a class="ticker" href="https://www.benzinga.com/stock/PRTYQ#OTC">PRTYQ</a>).</li>
	<li>DoorDash has more than 100,000 non-restaurant stores across its Marketplace and Drive platforms in North America.&nbsp;</li>
	<li>The company has added more delivery options that will allow consumers to save money by scheduling ahead with delivery windows or have their essentials delivered faster with express delivery.</li>
	<li>Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/03/31336929/starbucks-doordash-ink-delivery-partnership-in-canada" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Starbucks, DoorDash Ink Delivery Partnership In Canada</a></li>
	<li>DASH has also optimized the search and discovery experience for consumers to easily search within their favorite retail store to find the specific items they need.</li>
	<li>&quot;Our mission is to bring consumers all the best of their neighborhoods to their doorstep, including retail, grocery, convenience, and alcohol items, at low cost while saving them time,&quot; said Fuad Hannon, VP of New Verticals at DoorDash.</li>
	<li>Price Action:&nbsp;DASH shares are trading higher by 4.08% at $61.53 on the last check Thursday.</li>
	<li>Photo Via Company</li>
</ul>

DoorDash and&nbsp;<a href="http://partycity.com/" target="_blank">Party City</a>, the global celebrations category leader, today announced a new partnership that will bring on-demand party supplies delivery directly to consumers from over 700 stores nationwide. Party City is DoorDash&rsquo;s first party supplies retail partner for on-demand delivery.&nbsp;

Party City is now available on the DoorDash marketplace, offering consumers easy access to an incredible selection of celebration essentials including party supplies, costumes, balloons, specialty occasion decor, and more. Consumers can purchase Party City products directly on the DoorDash app with convenient access to an endless assortment of party supplies.&nbsp;

&ldquo;At Party City, our goal is to be there for all the ways you celebrate,&rdquo; said Susan Sanderson, Senior Vice President of Brand Marketing at Party City. &ldquo;This new partnership with DoorDash will help us to continue to deliver a frictionless customer experience. Whether picking up a few extra necessities or shopping for a full party haul, DoorDash will provide convenient and quick access to our one-stop-shop, allowing hosts to spend more time with their loved ones.&rdquo;

All participating Party City stores will be available on DashPass, DoorDash&rsquo;s membership program that offers members $0 delivery fees from thousands of restaurants, grocery, and convenience stores nationwide. DashPass members can now enjoy these benefits from Party City.

Additionally, in celebration of the partnership, now through March 17, consumers will receive 35% off (up to $20) with promo code PC35 on their Party City DoorDash order.&#x2A;

DoorDash And Party City Partner For On-Demand Party Supplies Delivery

Shares of Party City Holdco Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PRTYQ#OTC">PRTYQ</a>) fell by 84.64% in the past three months. Before having a look at the importance of debt, let's look at how much debt Party City Holdco has. 
<h2>Party City Holdco Debt</h2>
According to the Party City Holdco's most recent financial statement as reported on November 8, 2022, total debt is at $1.78 billion, with $1.32 billion in long-term debt and $466.24 million in current debt. Adjusting for $29.81 million in cash-equivalents, the company has a net debt of $1.75 billion. 
Let's define some of the terms we used in the paragraph above. Current debt is the portion of a company's debt which is due within 1 year, while long-term debt is the portion due in more than 1 year. Cash equivalents includes cash and any liquid securities with maturity periods of 90 days or less. Total debt equals current debt plus long-term debt minus cash equivalents. 
Investors look at the debt-ratio to understand how much financial leverage a company has. Party City Holdco has $2.87 billion in total assets, therefore making the debt-ratio 0.62. Generally speaking, a debt-ratio more than 1 means that a large portion of debt is funded by assets. As the debt-ratio increases, so the does the risk of defaulting on loans, if interest rates were to increase. Different industries have different thresholds of tolerance for debt-ratios. A debt ratio of 25% might be higher for one industry, but average for another.
<img src="https://www.benzinga.com/files/images/story/2023/1678383044_0.png" alt="debt_fig" />

<h2>Importance of Debt</h2>
Debt is an important factor in the capital structure of a company, and can help it attain growth. Debt usually has a relatively lower financing cost than equity, which makes it an attractive option for executives.
However, interest-payment obligations can have an adverse impact on the cash-flow of the company. Having financial leverage also allows companies to use additional capital for business operations, allowing equity owners to retain excess profit, generated by the debt capital.
Looking for stocks with low debt-to-equity ratios? Check out Benzinga Pro, a market research platform which provides investors with near-instantaneous access to dozens of stock metrics - including debt-to-equity ratio. <a href="https://pro.benzinga.com/">Click here to learn more</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Intraday Update

What Does Party City Holdco's Debt Look Like?

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