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TotalEnergies SE sells 10% interest in SPDC JV licenses in Nigeria for $860 million. This divestment of interest in SPDC JV licenses allows TTE to focus onshore Nigeria presence solely on the integrated gas value chain.

TotalEnergies Sells Nigerian Oil Assets for $860M: Focus Shifts to Gas

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TotalEnergies SE expects strong Q2 production results, forms joint venture for EV charging network in UK &amp; Ireland.

What&#39;s Going On With TotalEnergies Shares Today?

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Adidas To Investigate Misconduct Allegations Against Kanye West

Apple Supplier Loses Workers After Violent Protests, Cardano Stablecoin Project Shuts Down Over Uncertainty, Tesla &amp; Ford Recall Vehicles: Top Stories Friday, Nov. 25

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TotalEnergies SE&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTE#NYSE">TTE</a>) shares are trading higher today after its subsidiary, TotalEnergies EP Nigeria, inked a sale and purchase agreement (SPA) with Chappal Energies to sell its 10% <a target="_blank" href="https://totalenergies.com/news/press-releases/nigeria-totalenergies-sells-its-interest-spdc-jv-retaining-interest-gas-supply" rel="noreferrer noopener">interest </a>in the SPDC JV licenses in Nigeria for $860 million.
SPDC JV, operated by Shell Petroleum Development Company of Nigeria with partners including Nigerian National Petroleum Corporation (55%), TotalEnergies EP Nigeria (10%), and NAOC (5%), holds 18 licenses in the Niger Delta.
As per the terms, TotalEnergies EP Nigeria will sell its 10% interest and all associated rights in 15 oil-producing licenses of SPDC JV, contributing about 14,000 barrels of oil equivalent per day in 2023.
Additionally, TotalEnergies EP Nigeria will transfer its 10% interest in three gas-producing licenses (OML 23, OML 28, and OML 77) within SPDC JV to Chappal Energies while retaining full economic interest. These licenses currently supply 40% of Nigeria LNG&#8217;s gas.
The completion of the deal is subject to standard conditions, including regulatory approvals.
Yesterday, TotalEnergies disclosed that it expects its hydrocarbon production levels in the second quarter to reach close to 2.45 Mboe/d, at the <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39796336/whats-going-on-with-totalenergies-shares-today" rel="noreferrer noopener">upper limit of its guidance&nbsp;range</a>.
In addition, the company formed a joint venture with&nbsp;SSE Plc (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSEZY#OTC">SSEZY</a>) under the brand &#8220;Source&#8221; to establish a major EV charging network in the U.K. and&nbsp;Ireland.
Investors can gain exposure to TTE via&nbsp;First Trust&nbsp;Exchange-Traded Fund IV FT Energy Income Partners Strategy ETF&nbsp;(ARCA:&nbsp;EIPX)&nbsp;and&nbsp;Keating Active&nbsp;ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KEAT#NASDAQ">KEAT</a>).
Price Action: TTE shares are up&nbsp;0.76%&nbsp;to&nbsp;$68.84&nbsp;at the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

TotalEnergies SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTE#NYSE">TTE</a>) shares are trading lower today. The company announced that it expects its hydrocarbon production levels in the second quarter to reach close to 2.45 Mboe/d, at the upper limit of its guidance <a target="_blank" href="https://totalenergies.com/investors/main-indicators" rel="noreferrer noopener">range</a>.
Also, Exploration &amp; Production results are expected to reflect this production level and favorable oil prices, despite lower gas realizations.
Due to seasonal factors, the company anticipates Integrated Power results at about $500 million, aligning quarterly cash flow with the annual guidance range of <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">$2.5 billion-$3 billion</a>.
Moreover, TotalEnergies expects Integrated LNG results to remain consistent with the first quarter, reflecting stable market conditions with a slight decline in realized prices.
The company projects downstream results to show reduced refining margins in Europe and the Middle East, partly offset by higher refinery utilization and improved marketing outcomes.
Apart from this, the company formed a joint venture with SSE Plc (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSEZY#OTC">SSEZY</a>) under the brand &#8220;Source,&#8221; to establish a major EV charging network in the U.K. and <a target="_blank" href="https://totalenergies.com/news/press-releases/totalenergies-and-sse-join-forces-and-create-source-new-major-player-ev" rel="noreferrer noopener">Ireland</a>.
Source plans to deploy up to 3,000 high-power charge points (150 kW+) in 300 &#8220;EV hubs&#8221; over the next five years, aiming for a 20% market share.
This follows the U.K. Government&#8217;s enforcement of a zero vehicle emissions mandate for new cars and vans, highlighting a critical need to enhance power supply infrastructure for decarbonizing transport.
In Ireland, Source&#8217;s plans will support the government&#8217;s goal of nearly 1 million electric vehicles on the roads by 2030, fostering consumer confidence in EV charging infrastructure.
Investors can gain exposure to TTE via&nbsp;First Trust&nbsp;Exchange-Traded Fund IV FT Energy Income Partners Strategy ETF&nbsp;(ARCA:&nbsp;EIPX)&nbsp;and&nbsp;Keating Active&nbsp;ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KEAT#NASDAQ">KEAT</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39650263/shell-totalenergies-bp-mitsui-join-adnocs-mega-lng-project-report" rel="noreferrer noopener">Shell, TotalEnergies, BP, Mitsui Join ADNOC&#8217;s Mega LNG Project: Report</a>
Price Action: TTE shares are down 1.63% to $68.00 at the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

What's Going On With TotalEnergies Shares Today?

Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/22/11/29856829/adidas-investigates-misconduct-allegations-against-kanye-west-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Adidas To Investigate Misconduct Allegations Against Kanye West</a>
<ul>
<li>Adidas AG (OTC: ADDYY) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/adddf#OTC">ADDDF</a>) initiated a probe against Kanye West into allegations of inappropriate behavior after receiving an anonymous letter making several allegations.</li>
<li>The investigation follows a report by Rolling Stone magazine that detailed alleged incidents of inappropriate behavior by Ye toward staff and prospective employees. </li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/11/29855534/microsoft-vulnerable-to-eu-antitrust-probe-triggered-by-salesforce-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Microsoft Vulnerable To EU Antitrust, Triggered By Salesforce</a>
<ul>
<li>Microsoft Corp (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/msft#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MSFT</a>) will likely face an E.U. antitrust investigation as regulators intensify their scrutiny of its practices in a case triggered by Salesforce.com Inc&#39;s (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/crm#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">CRM</a>) workspace messaging app Slack.</li>
<li>In 2021, Slack alleged to the European Commission that Microsoft had unfairly integrated its workplace chat and video app Teams into its Office product.</li>
<li>Slack urged the E.U. competition enforcer to order the U.S. software giant to separate Teams from the Office Suit and sell it separately at fair commercial prices.</li>
<li>The Commission reportedly prepared the ground for an investigation.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/11/29855024/apples-key-supplier-reportedly-loses-over-20-000-workers-at-china-iphone-plant-after-violent-protest" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Apple&#39;s Key Supplier Reportedly Loses Over 20,000 Workers At China iPhone Plant After Violent Protests</a>
<ul>
<li>More than 20,000 employees, most new hires, have reportedly left a key Apple Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/aapl#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AAPL</a>) supplier&#39;s main iPhone-making plant in Zhengzhou, China, after violent protests broke out at the facility earlier this week over unpaid dues. </li>
<li>The slew of departures from the Foxconn (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/hnhpf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">HNHPF</a>) factory would hinder the company&#39;s previous target of resuming full production by the end of November.</li>
</ul>

Wall Street Journal
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/asia/22/11/29857001/volkswagen-losing-share-in-its-single-biggest-market-china" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Volkswagen Losing Share In Its Single Biggest Market, China</a>
<ul>
<li>Volkswagen AG (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/vwagy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">VWAGY</a>) (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/vwapy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">VWAPY</a>) said that despite some sales gains in recent months, it expects its market share in China to be around 16% this year, down from 20% since 2019.</li>
<li>The German giant is also facing soaring energy costs, supply-chain issues, and delays in delivering in-house software resulting in a disrupted model-release schedule.</li>
<li>China has been Volkswagen&#39;s cash cow for years, making the market-share erosion a particular concern.</li>
</ul>

Bloomberg
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/11/29855995/amazon-aims-to-invest-1b-annually-at-movies-to-be-released-in-theaters" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Amazon Aims To Invest $1B Annually In Movies To Be Released In Theaters</a>
<ul>
<li>Amazon.com (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) is reportedly planning to expand its latest streaming content to a more traditional setting by investing $1 billion each year toward running its new Prime Video releases in movie theaters.</li>
<li>The company hopes to release 12 - 15 films annually through this new investment allocation, Bloomberg reported citing people familiar with the matter.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/11/29856657/mercedes-introduces-annual-subscription-to-boost-vehicle-efficiency" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Mercedes Introduces Annual Subscription To Boost Vehicle Efficiency</a>
<ul>
<li>Mercedes-Benz Group AG (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/dmlry#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">DMLRY</a>) plans to charge owners of its upcoming line of expensive electric cars a subscription fee of $1,200 a year to boost their ability to accelerate quickly.</li>
<li>The subscription package, designed for Mercedes&#39; upcoming EQ all-electric models, resembles Tesla Inc&#39;s (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/tsla#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TSLA</a>) &quot;Ludacris mode&quot; introduced in 2016, which gives drivers an acceleration boost for a one-time fee of $10,000.</li>
<li>Bayerische Motoren Werke AG (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/bmwyy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BMWYY</a>) faced so much backlash in July for trying to charge $18 a month for heated seats that the company released a public statement defending the decision.</li>
</ul>

Techcrunch
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/11/29855466/amazon-pares-back-on-ambitious-india-edtech-dreams" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Amazon Pares Back On Ambitious India Edtech Dreams</a>
<ul>
<li>Amazon.Com, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) will shut down Amazon Academy, an online learning platform it launched in India for high-school students last year.</li>
<li>Amazon will wind down the edtech service in the country in a phased manner starting August 2023. </li>
<li>Those who signed up for the current academic batch will receive a full refund.</li>
</ul>

Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/11/29855778/netflix-goes-aggressive-on-gaming-venture-to-boost-revenue-stream" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Netflix Goes Aggressive On Gaming Venture To Boost Revenue Stream</a>
<ul>
<li>Netflix Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/nflx#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">NFLX</a>) has put up more than a dozen job listings on its website for Netflix Games Studio&#39;s Los Angeles office.</li>
<li>Netflix is hiring a game director to work on &quot;a brand-new AAA PC game.&quot;</li>
<li>Netflix sought a candidate with &quot;experience with FPS and third-person shooter games&quot; and &quot;extensive experience working on live service games.&quot;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/22/11/29855318/cardano-stablecoin-project-shuts-down-over-funding-timeline-uncertainty-after-ftx-collapse" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Cardano Stablecoin Project Shuts Down Over&#39; Funding, Timeline&#39; Uncertainty After FTX Collapse</a>
<ul>
<li>Ardana, a DeFi and stablecoin ecosystem building on Cardano (ADA/USD), halted development on Thursday, citing &quot;funding and project timeline uncertainty.&quot;</li>
<li>Ardana Labs said it would keep the project open-source for builders while &quot;treasury balances and remaining funds will be held until another competent community dev(eloper) team takes over our work.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/11/29855572/teslas-recall-woes-multiply-as-80-561-imported-and-mic-electric-vehicles-now-impacted-in-china" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Tesla&#39;s Recall Woes Multiply As 80,561 Imported And MIC Electric Vehicles Now Impacted In China</a>
<ul>
<li>Tesla Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/tsla#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TSLA</a>) has filed for a voluntary recall of 80,561 cars in China, according to a notice filed with China State Administration for Market Regulation. This comes when the company is struggling in the country amid slowing demand.</li>
<li>Vehicles covered under the recall include 67,698 units of imported Model S and Model X vehicles with a production date between Sept. 25, 2013, and Nov. 21, 2020, and 2,736 units of imported Model 3 vehicles, produced between Jan. 12, 2019, and Nov. 22, 2019, as well as 10,127 Made-in-China Model 3 cars.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/11/29856840/ford-recalls-518-993-vehicles-in-us-over-potential-cracked-fuel-injector" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Ford Recalls 518,993 Vehicles In US Over Potential Cracked Fuel Injector</a>
<ul>
<li>Ford Motor Company (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/f#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">F</a>) has urged the owners of 2020-2023 MY Bronco Sport and Escapes with 3-cylinder, 1.5L engines to visit their dealership to inspect for a potentially cracked fuel injector.</li>
<li>The automaker said a cracked fuel injector while the engine is operated could cause fuel and/or fuel vapor to accumulate near hot surfaces, resulting in a potential under-hood fire.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/22/11/29853780/metamask-triggers-crypto-community-over-user-data-collection-move-no-factor-more-important" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MetaMask Triggers Crypto Community Over User Data Collection Move: &#39;No Factor More Important Than Consumer Privacy&#39;</a>
<ul>
<li>The cryptocurrency community is not pleased with MetaMask&#39;s decision to collect users&#39; IP addresses and Ethereum (ETH/USD) wallet addresses during on-chain transactions.</li>
<li>According to a revised privacy policy agreement published by ConsenSys on Nov. 23, when you use Infura as your default RPC provider in MetaMask, it will collect your IP address and your Ethereum wallet address when you send a transaction.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/11/29856273/stellantis-develops-fresh-retailer-model-in-europe-in-support-of-its-ev-ambitions" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Stellantis Develops Fresh Retailer Model in Europe In Support Of Its EV Ambitions</a>
<ul>
<li>Stellantis N.V. (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/stla#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">STLA</a>) said it would reorganize its European dealer networks in July 2023 to cut costs and support its investment in electrification.</li>
<li>Starting next summer, the parent company to brands like Jeep, Dodge, Fiat, Maserati, and Peugeot said it would end all current sales and services contracts with dealers in Austria, Belgium, Luxembourg, and the Netherlands, with the rest of Europe to follow, for all 14 brands. </li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/11/29857004/sse-divests-25-stake-in-electricity-transmission-network-business-for-1-5b" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SSE Divests 25% Stake In Electricity Transmission Network Business For &pound;1.5B</a>
<ul>
<li>British energy company SSE Plc (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ssezy#OTC">SSEZY</a>) said it plans to sell a 25% minority stake in its electricity transmission network business, SSEN Transmission - to Ontario Teachers&#39; Pension Plan Board for &pound;1.456 billion.</li>
<li>The transaction is expected to fuel growth in the Transmission business and the wider SSE Group.</li>
<li>The stake sale process for SSE&#39;s electricity distribution business is expected to commence in early 2023.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/22/11/29856404/baxter-recalls-watchcare-incontinence-management-system-due-to-interference-risk" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Baxter Recalls WatchCare Incontinence Management System Due To Interference Risk</a>
<ul>
<li>The FDA classified Baxter International Inc&#39;s (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/bax#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BAX</a>) recall of hospital bed systems as the most serious type of concern that it could lead to life-threatening injuries or death.</li>
<li>Baxter initiated the recall of its WatchCare Incontinence Management System.</li>
<li>Baxter warned users about the potential for WatchCare&#39;s radio frequencies to interfere with other medical devices.</li>
</ul>
Photo via Pixabay

Apple Supplier Loses Workers After Violent Protests, Cardano Stablecoin Project Shuts Down Over Uncertainty, Tesla & Ford Recall Vehicles: Top Stories Friday, Nov. 25

<ul>
<li>British energy company&nbsp;SSE Plc&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/ssezy#OTC">SSEZY</a>) said it plans to&nbsp;<a class="editor-rtfLink" href="https://www.sse.com/news-and-views/2022/11/sse-agrees-sale-of-25-stake-in-transmission-business-for-1-465bn-to-unlock-further-growth/" 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">sell&nbsp;</a>a 25% minority stake in its electricity transmission network business, SSEN Transmission - to Ontario Teachers&rsquo; Pension Plan Board for &pound;1.456 billion.</li>
<li>The transaction is expected to fuel growth in both the Transmission business and across the wider SSE Group.</li>
<li>The stake sale process for SSE&rsquo;s electricity distribution business is expected to commence in early 2023.</li>
<li>As of March 31, 2022, SSEN Transmission had a RAV of &pound;4.16 billion and net debt and debt-like items of &pound;2.49 billion, including &pound;780 million of SSE shareholder loans.&nbsp;</li>
<li>Ontario Teachers&rsquo; will be proportionately represented on SSEN Transmission&rsquo;s Board of Directors, with SSE as the majority shareholder retaining control in relation to operating and managing the business.</li>
<li>&quot;Our investments will also be key to securing the UK&rsquo;s future energy independence through enabling the deployment of homegrown, affordable, low carbon power,&rdquo; said Rob McDonald, Managing Director of SSEN Transmission.</li>
<li>Price Action: SSEZY shares closed higher by 1.22% at $20.74 on Wednesday.</li>
<li>Photo Via Company</li>
</ul>

SSE Divests 25% Stake In Electricity Transmission Network Business For £1.5B

On Friday, shares of SSE plc (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ssezy#OTC">SSEZY</a>) experienced volatile short activity. After the activity, the stock price went down -0.42% to $19.13.
The overall sentiment for SSEZY has been Bearish.
The signal from the volatility alert is trending Bearish. Therefore, the recommendation is to Increase Short Exposure.
The volatility alert was produced on the prior trading date, 9/2/2022 with a volatility change of +136.89%. The current volatility indicator stands at 10.647.
Overview: The securities lending volatility indicator is produced by Tidal Markets, in partnership with Benzinga Insights. Securities lending primarily serves the purpose of providing liquidity to short sellers. When unusual activity occurs in the securities lending markets, it acts as an upstream indicator to what is likely to occur downstream in the regular stock market.
Understanding the Volatility Alert: Overall sentiment is considered &quot;bear&quot; when broad market activity of the stock has been shown to indicate a negative directional basis, or is considered &quot;bull&quot; when indicating a positive directional basis. The securities lending volatility indicator provides a signal when it detects unusual short activity. Unusual short activity is based off a computer generated algorithmic formula utilizing securities lending trade details such as the volume of shares being shorted, the rate being paid to short the shares, and the type of collateral being posted - amongst other variables. The current volatility is the respective trading day&#39;s calculated securities lending volatility value. The volatility percentage change is the percentage difference in volatility between the two most recent days. The recommendation is a suggestive strategy, inferred from the strength of the Signal Trending, Current Volatility, and Volatility % Change. Recommendations may include, &quot;Strong Buy&quot;, &quot;Strong Sell&quot;, &quot;Increase Short Exposure&quot;, &quot;Decrease Short Exposure&quot;, or &quot;Market Neutral&quot;.
ANY INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE OR IMPLY INVESTMENT ADVICE &nbsp;

Short Ideas

Trading Ideas

Short Volatility Alert: SSE plc

Scotland-based energy company SSE Plc (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ssezy#OTC">SSEZY</a>) will sell its 50% stakes in&nbsp;two energy-from-waste joint ventures Multifuel Energy Ltd and Multifuel Energy 2 Ltd for approximately $1.3 billion (995 million pounds), reports <a href="https://www.bloomberg.com/news/articles/2020-10-13/sse-to-sell-energy-waste-plant-stakes-for-995-million-pounds?srnd=markets-vp&amp;sref=TBDibEcD">Bloomberg</a>.
Australian asset management company First Sentier Investors&#39; European Diversified Infrastructure Fund III will buy the stakes in an all-cash deal.
What Happened: SSE&rsquo;s sale agreement is an attempt to shift its attention towards renewable energy, as per Bloomberg.
SSE had flagged both the Multi Energy units for disposal in June as a part of its strategy to generate approximately 2 billion pounds by selling some of its assets by fourth quarter of 2021.
The deal is expected to close by the end of 2020 after approval by the European Commission.
&quot;While these multifuel assets have been successful ventures for SSE, they are non-core investments and we are pleased to have agreed a sale that delivers significant value,&quot; said SSE&#39;s finance director Gregor Alexander.
Earlier this year, SSE <a href="https://www.sse.com/news-and-views/2020/01/sse-plc-to-complete-sale-of-sse-energy-services-to-ovo-energy/">offloaded</a> its retail energy business &mdash; SSE Energy Services, for 500 million pounds.
Why Does It Matter: <a href="https://multifuelenergy.com/about-multifuel-energy-limited/">Multifuel Energy</a> and Multifuel Energy 2 produce low carbon electricity from waste-derived fuel. It is a 50-50 joint venture between SSE and Wheelabrator Technologies Inc.
Both plants generate a net 72 megawatt electricity per year by processing over 675,000 tons of waste, according to a&nbsp;<a href="https://www.renewableenergyworld.com/2020/07/22/new-waste-to-energy-facility-enters-commercial-operation-in-the-uk/#gref">Renewable Energy World</a>&nbsp;publication.
Price Action: SSE&#39;s ADR closed 2.91% higher to $17.34 Monday.

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Stocks That Hit 52-Week Highs On Tuesday

The following post was written and/or published as a collaboration between Benzinga&rsquo;s in-house sponsored content team and a financial partner of Benzinga.
At a time when markets are more volatile than at any point since the 2008 financial crisis, it&rsquo;s critically important for company executives to be in contact with investors. Some investors will get a chance to hear directly from major ADR issuers later this week at the first <a href="https://www.adr.db.com/drwebrebrand/media/dr-events/deutsche-bank-adr-virtual-investor-conference-dbvic">Deutsche Bank Depositary Receipts Virtual Investor Conference</a> of 2020.&nbsp;
Held in conjunction with Virtual Investor Conferences, representatives from 10 ADR issuers based in seven countries&mdash;Australia, China, &nbsp;including Hong Kong, Denmark, France, Germany, &nbsp;and the UK&mdash;will provide business updates and answer questions from investors and analysts.&nbsp; 
Each presentation will be followed by a live Q&amp;A session with attendees and is available on demand.&nbsp;
<h3>2019 Depositary Receipt Recap</h3>
Depositary Receipts, also known as DRs, allow for international companies to list their shares on foreign markets. Many international companies list their shares in the U.S. via ADRs&mdash;American Depositary Receipts&mdash;to raise capital or broaden their investor base.&nbsp;
&nbsp;&ldquo;American Depositary Receipts and American Depositary Shares are a great way for foreign companies to have their shares trade in the U.S., and for U.S. investors to own a piece of those companies,&rdquo; said Jason Paltrowitz, &nbsp;executive vice president, corporate services at OTC Markets.&nbsp;
According to Deutsche Bank (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/db#NYSE">DB</a>), one of the four main depositary banks, China continues to be the global leader when it comes to the Depositary Receipt market.&nbsp;
Chinese companies accounted for 71% of the capital raised in the global Depositary Receipt market last year&mdash;down from 75% in 2018. Latin America, on the other hand, saw the biggest growth year-over-year. Latin American companies raised 60% more capital via Depositary Receipts in 2019 than in 2018, led by Brazil.&nbsp;
&ldquo;What we&rsquo;re seeing in recent years is China being very active,&rdquo; said Zafar Aziz, head of strategic sales and IR advisory trust &amp; agency services at Deutsche Bank. &ldquo;Most of our new business in the last few years has come through Chinese-U.S. listings.&rdquo;
<img alt="screen_shot_2020-03-13_at_3.23.53_pm.png" src="https://www.benzinga.com/files/u91860/screen_shot_2020-03-13_at_3.23.53_pm.png" style="height:315px; width:600px" /> 
Source: <a href="https://adr.db.com/drwebrebrand/media/publications/deutsche-bank-depositary-receipts-2019ar-in-review">Deutsche Bank</a>
Overall, $17 billion was raised last year via Depositary Receipt listings, marking the second-highest reading in the last five years. In terms of trading activity, over 161 billion Depositary Shares traded last year, roughly in-line with 2018.&nbsp;
China, Hong Kong, and Brazil remain the most active regions for Depositary Receipt trading, with companies from those regions representing 27% and 21% of total DR volume respectively.&nbsp;
<img alt="screen_shot_2020-03-13_at_3.20.42_pm.png" src="https://www.benzinga.com/files/u91860/screen_shot_2020-03-13_at_3.20.42_pm.png" style="height:252px; width:600px" /> 
Source: <a href="https://adr.db.com/drwebrebrand/media/publications/deutsche-bank-depositary-receipts-2019ar-in-review">Deutsche Bank</a>
As of the end of 2019, there were 2,945 ADRs globally. Unsurprisingly, U.S. investors own the greatest portion, roughly 75%, of global Depositary Receipt assets.&nbsp; 
Aziz noted that ADRs are popular with both institutional and U.S. retail investors as they trade and settle in the same way as US domestic securities and are quoted in U.S. dollars. The virtual conference is a great platform for the full range of investors.
&ldquo;We also see a lot of U.S. institutions investing in ADRs through separately managed accounts or SMA funds, particularly focused on the retail segment where some of these funds are marketed via wealth management platforms,&rdquo; he said.&nbsp;
<img alt="screen_shot_2020-03-13_at_3.22.54_pm.png" src="https://www.benzinga.com/files/u91860/screen_shot_2020-03-13_at_3.22.54_pm.png" style="height:459px; width:600px" /> 
Source: <a href="https://adr.db.com/drwebrebrand/media/publications/deutsche-bank-depositary-receipts-2019ar-in-review">Deutsche Bank</a>
<h3>Hearing Directly From American Depositary Receipt Issuers</h3>
Investors interested in Chinese or healthcare ADRs may have particular interest in this week&rsquo;s conference. Of the 10 companies presenting, 9 are based in China and/or in the healthcare/biotech industries. A British energy company and an Australian telecoms company will also be presenting.&nbsp;
Organizers do not expect global travel restrictions put in place because of the COVID-19 virus to hinder the conference, as it is conducted virtually. In fact, it may have increased demand, according to Aziz.&nbsp;
&ldquo;Especially now with the coronavirus situation, it&rsquo;s even more important to provide this facility,&rdquo; he said last week. &ldquo;We have a lot of interest from Chinese companies for next week&rsquo;s event.&rdquo;
To learn more about attending this week&rsquo;s conference, <a href="https://www.adr.db.com/drwebrebrand/resources/dbvic?utm_source=Article&amp;utm_medium=Benzinga&amp;utm_campaign=DBVIC%20Mar%2018%2019%202020">click here</a>.
March 18th 
8:30 AM ET: HK Electric Investments (Pink: <a class="ticker" href="https://www.benzinga.com/stock/hkvty#Pink">HKVTY</a>) 
9:30 AM: Aesthetic Medical International Holdings Group Limited. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aih#NASDAQ">AIH</a>) 
10:00 AM: Genmab A/S (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gmab#NASDAQ">GMAB</a>) 
10:30 AM: Ipsen S.A. (Pink: <a class="ticker" href="https://www.benzinga.com/stock/ipsey#Pink">IPSEY</a>) 
11:00 AM: Merck KGaA (Pink: <a class="ticker" href="https://www.benzinga.com/stock/mkkgy#Pink">MKKGY</a>) 
11:30 AM: SSE PLC (Pink: <a class="ticker" href="https://www.benzinga.com/stock/ssezy#Pink">SSEZY</a>)
March 19th 
8:30 AM: Hutchison China MediTech Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hcm#NASDAQ">HCM</a>) 
9:00 AM: China Online Education Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/coe#NYSE">COE</a>) 
9:30 AM: China Distance Education Holdings (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dl#NYSE">DL</a>) 
10:00 AM: Telstra Corporation (Pink: <a class="ticker" href="https://www.benzinga.com/stock/tlsyy#Pink">TLSYY</a>)
To learn more about attending this week&rsquo;s virtual conference, <a href="https://www.adr.db.com/drwebrebrand/resources/dbvic?utm_source=Article&amp;utm_medium=Benzinga&amp;utm_campaign=DBVIC%20Mar%2018%2019%202020">click here</a>.
Image credit: Wikimedia Commons
The preceding post was written and/or published as a collaboration between Benzinga&rsquo;s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.

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10 International ADR Companies That Are Conducting Virtual Investor Presentations This Week

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