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Fund will maintain at least 80% exposure to financial instruments that provide two times leveraged exposure to the calendar week performance of the iShares Semiconductor ETF. The Fund is an actively-managed exchange-traded fund (ETF) that seeks to achieve on a calendar week basis, before fees and expenses, 200% performance of the iShares Semiconductor ETF for a full calendar week, and not for any other period, by entering into one or more swaps on the iShares Semiconductor ETF

Tradr 2X Long SOXX Weekly ETF

Tesla and SpaceX CEO Elon Musk&nbsp;has been facing backlash for a contentious post on his social media platform, X, formerly Twitter, which <a href="https://www.benzinga.com/news/24/09/40870646/elon-musk-comments-on-why-they-want-to-kill-trump-desantis-promises-floridas-own-probe">he later removed</a>. The White House has criticized the post, terming it as &#8220;irresponsible.&#8221;
What Happened: Over the weekend, Musk stirred controversy by questioning why &#8220;no one is even trying&#8221; to assassinate President Joe Biden or Democratic presidential nominee Kamala Harris.
The post was made in the wake of the <a href="https://www.benzinga.com/24/09/40869836/donald-trump-safe-and-unharmed-after-shooting-incident-at-florida-golf-club">second assassination attempt</a> on former President Donald Trump.&nbsp;
Many people including White House spokesperson, Andrew Bates, condemned the post, stating that &#8220;violence&nbsp;should only be condemned, never encouraged or joked about. This rhetoric is irresponsible,&#8221; <a href="https://thehill.com/homenews/administration/4883077-white-house-elon-musks-kamala-harris/">reported</a> The Hill. 
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40846236/i-have-a-bad-feeling-about-this-elon-musk-is-alarmed-about-moscow-nato-conflict-risk-if-ukraine-allo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;I Have A Bad Feeling About This&#8217; — Elon Musk Is Alarmed About Moscow-NATO Conflict Risk If Ukraine Allowed To Strike Deep Into Russia</a>
Following the outrage, the Tesla CEO deleted the post and said that it was a joke. He stated, &#8220;Turns&nbsp;out that jokes are WAY&nbsp;less funny if people don't&nbsp;know the context and the&nbsp;delivery is plain text.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Turns out that jokes are WAY less funny if people don't know the context and the delivery is plain text
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1835574495467159607?ref_src=twsrc%5Etfw">September 16, 2024</a></blockquote>
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In another post he said, &#8220;Well, one lesson I've learned is that just because I say something to a group and they laugh doesn't mean it's going to be all that hilarious as a post on X.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Well, one lesson I've learned is that just because I say something to a group and they laugh doesn't mean it's going to be all that hilarious as a post on &#120143;
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1835573866271330307?ref_src=twsrc%5Etfw">September 16, 2024</a></blockquote>
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Why It Matters: A man named Ryan Wesley Routh was charged with <a href="https://www.benzinga.com/general/politics/24/09/40882524/man-accused-in-trump-assassination-attempt-could-face-15-years-for-federal-gun-crimes-whats-next">two federal gun-related offenses</a> in connection with his attempted assassination of Trump.
Following the assassination attempt, <a href="https://www.benzinga.com/news/24/09/40870455/trump-vows-to-never-surrender-after-surviving-second-assassination-attempt">Trump confirmed his safety</a> and vowed to &#8220;never surrender.&#8221; The incident occurred near Trump's Florida property.
Both President Biden and Vice President Harris have expressed <a href="https://www.benzinga.com/news/24/09/40870341/kamala-harris-biden-express-relief-that-trump-is-unhurt-after-second-assassination-attempt-i-am-glad">relief over Trump&#8217;s safety</a> and condemned the act of political violence.
This was the second attempt on the former president&#8217;s life ahead of the 2024 election. The previous one took place on July 13, and the <a href="https://www.benzinga.com/news/24/07/39761846/trump-left-bloodied-after-shots-fired-at-pennsylvania-rally-evacuated-by-secret-service">former President was left bloodied</a> and had to be evacuated by the Secret Service.
Image via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/personal-finance/24/09/40799246/elon-musks-ex-wife-and-mom-of-5-says-he-was-willing-to-give-up-his-fortune-for-space-goals-even-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s Ex-Wife And Mom Of 5 Says He Was Willing To Give Up His Fortune For Space Goals, Even If It Meant Moving In With Her Parents</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

News

Politics

Elon Musk Says His Now Deleted Controversial Post After Latest Trump Assassination, Which Was Labeled 'Irresponsible' By The White House,' Was A Joke: 'Way Less Funny If People Don't Know The Context'

Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) announced a new share repurchase program worth up to $60 billion on Monday.
What Happened: The tech giant also declared a quarterly dividend of $0.83 per share, marking a 10% increase from the previous quarter. The company will hold its annual shareholders meeting on Dec. 10.
In July, Microsoft revealed plans to increase spending on artificial intelligence infrastructure this fiscal year. The company reported a 77.6% rise in capital expenditures for the quarter ending Jun. 30, <a href="https://www.benzinga.com/news/earnings/24/07/40051051/microsoft-q4-earnings-highlights-revenue-beat-eps-beat-cloud-revenue-up-21-yoy-ensuring-we-lead-the">primarily due to AI-related costs</a>.
Despite a slowdown in growth for its Azure cloud <a href="https://www.benzinga.com/news/earnings/24/07/40051051/microsoft-q4-earnings-highlights-revenue-beat-eps-beat-cloud-revenue-up-21-yoy-ensuring-we-lead-the">business in the last quarter</a>, Microsoft expects growth to accelerate in the second half of fiscal 2025. 
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/40848692/warren-buffetts-top-executive-ajit-jain-sells-over-half-his-berkshire-hathaway-stake-for-139m-am?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Warren Buffett&#8217;s Top Executive Ajit Jain Sells Over Half His Berkshire Hathaway Stake For $139M Amid Speculation On Stock Valuation And Kamala Harris&#8217;s Tax Policies</a>
Last month, Microsoft restructured its business unit reporting, moving some search and news advertising revenue under the Azure cloud-computing unit. 
This move follows Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)&#8217;s record $110 billion share buyback <a href="https://www.benzinga.com/news/earnings/24/05/38599545/apple-q2-earnings-beats-muted-forecast-on-services-mac-strength-installed-base-at-fresh-record-cupe">program announced in May</a>.
Why It Matters: The announcement of the $60 billion share buyback program comes amid significant structural changes within Microsoft. 
Recently, the company cut <a href="https://www.benzinga.com/trading-ideas/24/09/40857729/microsofts-job-cuts-in-the-gaming-division-post-activision-blizzard-acquisition-signal-a-major-shak">about 650 jobs</a> in its gaming division following its $69 billion acquisition of Activision-Blizzard. This restructuring aims to streamline operations and enhance efficiency within the expanded gaming portfolio.
Additionally, Microsoft has been focusing on <a href="https://www.benzinga.com/news/24/09/40852195/microsoft-hires-former-ge-cfo-carolina-dybeck-happe-as-coo-to-boost-cloud-and-ai-focus">strengthening its cloud and AI capabilities</a>. The company recently appointed Carolina Dybeck Happe as its new EVP and COO to bolster its cloud services and AI initiatives. This move is part of Microsoft&#8217;s strategy to compete with Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) in the cloud services market.
Moreover, Microsoft&#8217;s investment in AI is underscored by its involvement with OpenAI, which is seeking <a href="https://www.benzinga.com/news/24/09/40864744/openais-150b-valuation-hinges-on-whether-sam-altman-led-ai-startup-can-remove-profit-cap-for-investo">a $150 billion valuation</a>. This partnership highlights Microsoft&#8217;s commitment to advancing artificial general intelligence and maintaining a competitive edge in the AI sector.
Price Action: Microsoft&#8217;s stock closed at $431.34 on Monday, up 0.17% for the day. In after-hours trading, the stock rose by an additional 0.73%. Year to date, Microsoft has seen a strong performance, with its stock up by 16.30%, according to <a href="https://www.benzinga.com/pro/login">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40866592/swifties-rally-for-kamala-harris-taylor-swift-superfan-organizes-online-push-for-democratic-ticket?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Swifties Rally For Kamala Harris: Taylor Swift Superfan Organizes Online Push For Democratic Ticket</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Equities

Buybacks

Markets

AAPL

AMZN

GOOGL

MSFT

Microsoft Announces $60B Share Buyback Program, 10% Dividend Increase Amid Rising AI Investment And Restructuring

The upcoming 2024 presidential race between Donald Trump and Kamala Harris has economists leaning toward Harris&#8217;s economic strategies. A recent Wall Street Journal <a href="https://www.wsj.com/opinion/harris-is-the-safer-economic-choice-2024-presidential-election-ea06b8bf?mod=commentary_article_pos2#comments_sector">opinion piece</a> by Obama-era economist Jason Furman suggests that Harris&#8217;s economic proposals are seen as less risky for the economy compared to Trump&#8217;s. This is despite both candidates holding undergraduate degrees in economics.
What Happened: Trump&#8217;s proposed tariffs, including a 10% tariff on all U.S. imports and a 60% tariff on Chinese goods, are viewed as a significant economic threat by Furman.
These tariffs would cover $4 trillion of imports, a substantial increase from President Joe Biden&#8217;s tariffs which covered $18 billion. 
Conversely, Harris has shown a more restrained approach towards tariffs and has proposed expanding the Child Tax Credit and extending the expiring tax cuts for those earning below $400,000. 
Trump&#8217;s proposed budget measures could add more than $5 trillion to the deficit, while Harris&#8217;s proposals could lead to a $1.5 trillion deficit increase.
&#8220;Trump often listened to sensible advisers and walked away from some terrible economic policies as president,&#8221; wrote Furman. 
&#8220;Some of his defenders believe he will do so again—and I hope they're right. For my money, though, I recommend taking him at his word and voting accordingly.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/09/40867103/nate-silver-if-trump-loses-he-will-have-let-election-slip-out-of-his-grasp-as-underlying-factors-fav?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nate Silver: If Trump Loses, He Will Have Let Election &#8216;Slip Out Of His Grasp&#8217; As Underlying Factors Favor Him Despite Harris&#8217; Poll Lead</a>
Why It Matters: Former President Trump earned a Bachelor of Science in economics from the Wharton School at the University of Pennsylvania, while Vice President Harris graduated from Howard University in Washington, D.C., with a degree in political science and economics.
Trump&#8217;s tariff proposals have been criticized by economists, including Furman in the past. He questioned the logic behind the tariffs, highlighting the potential economic repercussions and the <a href="https://www.benzinga.com/news/24/09/40824903/obama-era-economist-blasts-trump-tariffs-who-do-you-think-is-going-to-pay-for-all-the-foreign-tariff">cost of retaliatory measures</a> from other countries.
Harris&#8217;s economic focus on American families has been contrasted against Trump's alleged emphasis on corporate tax cuts in her <a href="https://www.benzinga.com/news/24/09/40687930/kamala-harriss-new-ad-campaign-focused-takes-a-dig-at-trumps-economic-policies">recent ad campaign</a>. Harris&#8217;s campaign spokesperson, Charles Kretchmer Lutvak, stated that the election boils down to which candidate is focused on the American people.
However, Harris&#8217;s proposals have also sparked debate. Former Trump administration economist Kevin Hassett expressed <a href="https://www.benzinga.com/personal-finance/24/08/40445072/former-trump-administration-economist-says-hes-horrified-by-kamala-harriss-chilling-economic-pro">strong opposition</a> to Harris&#8217;s proposals, calling them &#8220;chilling&#8221; and likening them to &#8220;communism plain and simple.&#8221; 
Image Courtesy: Shutterstock.com
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Economics

General

Both Trump And Harris Hold Undergraduate Degrees In Economics, Says Obama-Era Economist But There Is One Candidate He Favors Over The Other

In a recent prediction, conservative tech billionaire, Peter Thiel, anticipates a landslide victory in the 2024 presidential election, a stark deviation from recent close contests.
What Happened: The entrepreneur said, &#8220;My one contrarian view on the election is that it&#8217;s not going to be close. You know, most presidential elections aren&#8217;t.&#8221;
&#8220;2016 and 2020 were super close, but two-thirds of the elections aren&#8217;t.&#8221;
Thiel made this forecast during a live appearance at the All-In Summit earlier this month. He suggested that either the &#8220;Kamala bubble will burst&#8221; or &#8220;maybe the Trump voters get really demotivated and don&#8217;t show up,&#8221; <a href="https://www.businessinsider.com/peter-thiel-2024-election-cheating-trump-vance-harris2024-9">reported</a> Business Insider.
Thiel, who has previously backed political campaigns financially, including that of former President Donald Trump, has withdrawn from monetary involvement in politics for now. He asserted that political spending has minimal impact, particularly at the presidential level, and this would be even more evident in a landslide election.
Despite his decision to withhold political donations, Thiel expressed strong support for Trump and GOP vice-presidential nominee J.D. Vance. He also speculated that if the election was indeed close, Harris and Democrats would &#8220;cheat&#8221; through ballot harvesting and election-rule changes.
See Also: <a href="https://www.benzinga.com/news/24/09/40867103/nate-silver-if-trump-loses-he-will-have-let-election-slip-out-of-his-grasp-as-underlying-factors-fav?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nate Silver: If Trump Loses, He Will Have Let Election &#8216;Slip Out Of His Grasp&#8217; As Underlying Factors Favor Him Despite Harris&#8217; Poll Lead</a>
Why It Matters: Thiel, co-founder of PayPal and Palantir Technologies, has been a prominent figure in the tech industry and politics. He was the <a href="https://www.benzinga.com/general/education/24/09/40756735/peter-thiel-supports-trump-backed-ethereums-buterin-5-facts-you-might-not-know-about-paypal-pal">first outside investor</a> in the Mark Zuckerberg-led Meta Platforms investing $500,000 in the company in 2004 when it was valued at $4.9 million.
In June 2024, Thiel and his Palantir co-founder Joe Lonsdale <a href="https://www.benzinga.com/general/politics/24/06/39557155/palantir-co-founders-thiel-lonsdale-back-trump-in-2024-election-id-rather-have-him-than-biden">pledged their support</a> for Trump in the upcoming election. However, Thiel&#8217;s relationship with Trump <a href="https://www.benzinga.com/news/24/07/40001721/thiel-reportedly-reassessing-trump-in-wake-of-vance-pick-in-spite-of-many-misgivings-he-had-earlier">cooled off</a> when he invested $35 million in 2022 to support Vance in Ohio. Thiel did not contribute to Trump&#8217;s 2020 re-election campaign.
Check This Out:
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<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Palantir Co-Founder Peter Thiel Didn't Write A Check To Trump And Doesn't Think 2024 Will Be Close: 'Kamala Bubble Will Burst' Or Maybe Ex-President's Voters 'Get Demotivated'

Donald Trump Jr. has claimed that a Democrat donor attempted to <a href="https://www.benzinga.com/24/09/40869836/donald-trump-safe-and-unharmed-after-shooting-incident-at-florida-golf-club">assassinate his father</a>, former President Donald Trump.
What Happened: On Thursday, Donald Trump Jr. took to X to allege that his father&#8217;s would-be assassin Ryan Wesley Routh was a Democrat donor, who also supports Vice President Kamala Harris. 
He wrote, &#8220;Where&#8217;s the lie? A Democrat donor with a Kamala Harris bumper sticker on his car tried to assassinate my dad yesterday.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Where&#39;s the lie? A Democrat donor with a Kamala Harris bumper sticker on his car tried to assassinate my dad yesterday. <a href="https://t.co/uCEDcs9bre">https://t.co/uCEDcs9bre</a>
&mdash; Donald Trump Jr. (@DonaldJTrumpJr) <a href="https://twitter.com/DonaldJTrumpJr/status/1835821834157142341?ref_src=twsrc%5Etfw">September 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Trump Jr. shared a video featuring his father&#8217;s running mate Sen. J.D. Vance (R-Ohio). The vice presidential candidate drew the distinction between conservatives and liberals in his address. He said, &#8220;The big difference between conservatives and liberals is that no one has tried to kill Kamala Harris in the last couple of months.&#8221; Vance pointed out that two people had tried to kill Trump on the other hand.
He said it was strong evidence that the left &#8220;needs to tone down the rhetoric.&#8221; He warned that &#8220;somebody is going to get hurt by it.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/09/40869086/trump-vs-harris-new-poll-reveals-post-debate-swing-towards-this-candidate-in-key-state?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs Harris: New Poll Reveals Post-Debate Swing Towards This Candidate In Key State</a>
Why It Matters: According to a Benzinga report, An armed man was seen near the Trump International Golf Course West Palm Beach on Sunday afternoon, leading to a shooting incident. The suspect managed to escape the scene, and authorities later found the assault rifle at the location.
The suspect, later identified as Routh, a small construction company owner, was later <a href="https://www.benzinga.com/news/24/09/40872269/fbi-investigating-trumps-second-assassination-attempt-authorities-detain-pro-ukraine-construction-co">taken into custody</a> in connection with the alleged assassination attempt. Routh, known for his regular criticism of Trump on social media, has had previous run-ins with the law.
Routh has been charged with two <a href="https://www.benzinga.com/general/politics/24/09/40882524/man-accused-in-trump-assassination-attempt-could-face-15-years-for-federal-gun-crimes-whats-next">federal gun-related offenses</a> in connection with his attempted assassination of Trump. This incident marks the second attempt on the former president&#8217;s life ahead of the 2024 election.
The incident has also impacted the stock performance of Trump Media &amp; Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) — a company linked with the former president — which saw a <a href="https://www.benzinga.com/general/social-media/24/09/40886142/trump-media-technology-spirals-after-golf-course-assassination-attempt">significant plunge</a> following the assassination attempt.
Price Action: At the time of writing, Trump Media &amp; Technology shares traded 0.75% lower at $17.15 in the after-hours session after closing 3.8% lower for the day at $17.28, according to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro data.</a>
Image Courtesy: Shutterstock.com
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Donald Trump Jr. Doesn't Mince Words: 'Democrat Donor With A Kamala Harris Bumper Sticker On His Car Tried To Assassinate My Dad'

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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: 
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<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

Sports Betting

Legal

Sports

DKNG

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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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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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.

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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.

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

GOOG

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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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).

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