Latest news for Cartica Acq (NASDAQ:CITE) Stock

Cartica Acquisition Corp is a blank check company.

Cartica Acquisition Corp - Class A Ordinary Shares

Cartica Acquisition Corp

Cleveland-Cliffs Inc. (NYSE:<a href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) ("Cliffs")is pleased to announce that the holders of common shares (the "Shareholders") of Stelco Holdings Inc. (TSX:<a href="https://www.benzinga.com/stock/STLC#TSX">STLC</a>) ("Stelco") voted in favor of, and overwhelmingly approved, the special resolution (the "Arrangement Resolution") regarding the previously announced indirect acquisition of Stelco by Cliffs at a special meeting of the Shareholders held earlier today (the "Stelco Meeting"). The Arrangement Resolution received support of 99.97% of the total votes cast for the Arrangement Resolution. The transaction is expected to close in the fourth quarter of 2024. Upon closing of the transaction, which remains subject to the satisfaction or waiver of the remaining conditions to closing contained in the arrangement agreement, Stelco is expected to continue as a wholly-owned subsidiary of Cliffs.

Cleveland-Cliffs Announces Shareholder Approval Of Arrangement To Acquire Stelco

Momentum investing is essentially the opposite of the tried-and-tested Wall Street adage -- &quot;buy low and sell high.&quot; Investors following this investing style typically avoid betting on cheap stocks and waiting long for them to recover. They believe instead that one could make far more money in lesser time by &quot;buying high and selling higher.&quot;
Who doesn&#39;t like betting on fast-moving trending stocks? But determining the right entry point isn&#39;t easy. Often, these stocks lose momentum once their valuation moves ahead of their future growth potential. In such a situation, investors find themselves loaded up on expensive shares with limited to no upside or even a downside. So, going all-in on momentum could be risky at times.
It could be safer to invest in bargain stocks that have been witnessing price momentum recently. While the Zacks Momentum Style Score, which pays close attention to trends in a stock&#39;s price or earnings, is pretty useful in identifying great momentum stocks, our &#39;Fast-Paced Momentum at a Bargain&#39; screen comes handy in spotting fast-moving stocks that are still attractively priced.
There are several stocks that currently pass through the screen and Bridgeline Digital, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/blin#NASDAQ">BLIN</a>) is one of them. Here are the key reasons why this stock is a great candidate.
Investors&#39; growing interest in a stock is reflected in its recent price increase. A price change of 21.9% over the past four weeks positions the stock of this company well in this regard.
While any stock can see a spike in price for a short period, it takes a real momentum player to deliver positive returns for a longer time frame. BLIN meets this criterion too, as the stock gained 6.4% over the past 12 weeks.
Moreover, the momentum for BLIN is fast paced, as the stock currently has a beta of 1.94. This indicates that the stock moves 94% higher than the market in either direction.
Given this price performance, it is no surprise that BLIN has a Momentum Score of A, which indicates that this is the right time to enter the stock to take advantage of the momentum with the highest probability of success.
In addition to a favorable Momentum Score, an upward trend in earnings estimate revisions has helped BLIN earn a Zacks Rank #2 (Buy). Our research shows that the momentum-effect is quite strong among Zacks Rank #1 and #2 stocks. That&#39;s because as covering analysts raise their earnings estimates for a stock, more and more investors take an interest in it, helping its price race to keep up.
Most importantly, despite possessing fast-paced momentum features, BLIN is trading at a reasonable valuation. In terms of Price-to-Sales ratio, which is considered as one of the best valuation metrics, the stock looks quite cheap now. BLIN is currently trading at 0.74 times its sales. In other words, investors need to pay only 74 cents for each dollar of sales.
So, BLIN appears to have plenty of room to run, and that too at a fast pace.
<a href="https://www.zacks.com/stock/news/2336336/despite-fast-paced-momentum-bridgeline-digital-blin-is-still-a-bargain-stock?cid=CS-BENZ-FT-tale_of_the_tape|fast_paced_momentum_at_a_bargain-2336336">To read this article on Zacks.com click here.</a>

Earnings

News

Penny Stocks

Small Cap

Markets

Analyst Ratings

Tech

Trading Ideas

BLIN

Despite Fast-Paced Momentum, Bridgeline Digital Is Still a Bargain Stock

New Listings Pick Up, While Fewer Homes Sell and For Less
DENVER, Sept. 16, 2024 /PRNewswire/ -- August's new listings inched up 1.6% over the previous month after decreasing 9.4% in July and 5.2% in June. Up 7.9% year over year, new listings have remained above 2023 levels in seven of eight months year to date.
Meanwhile, home sales declined 3.3% from July across the 49 metro areas surveyed. Home sale transactions were also down 3.8% year over year – just the third month of 2024 thus far to trail 2023.
The median sales price dropped for the second consecutive month to $440,000, 1.1% below July but remained 3.5% higher than the $425,000 median recorded in August 2023. Overall, the median sales price has remained higher year over year for 14 consecutive months since June 2023.
Inventory continued to grow for the sixth consecutive month. It was up 2.4% from July and contributed to the 37.6% increase in homes for sale in August 2024 compared to August 2023.

Macro Economic Events

Econ #s

Economics

RMAX

RE/MAX Says August's New Listings Inched Up 1.6% Over The Previous Month After Decreasing 9.4% In July And 5.2% In June. Up 7.9% YoY, New Listings Have Remained Above 2023 Levels In Seven Of Eight Months Year To Date; New Listings Pick Up, While Fewer Homes Sell And For Less

Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) shares are surging following reports that the company is set to qualify for up to $3 billion in federal funding to produce semiconductors for U.S. military applications. 
The potential grant, part of the CHIPS and Science Act's Secure Enclave program, aims to secure a domestic supply of advanced chips critical for defense and <a href="https://www.benzinga.com/news/24/09/40880571/whats-going-on-with-intel-stock-monday">intelligence purposes.</a>
Intel has been working closely with the U.S. government through various defense programs such as the State-of-the-Art Heterogeneous Integration Prototype (SHIP) and Rapid Assured Microelectronics Prototypes-Commercial (RAMP-C). This latest funding would help expand Intel&#8217;s capabilities in producing cutting-edge semiconductors across its facilities in Arizona, Ohio and other states.
While the company has not officially received the funding, Intel is seen as a frontrunner among chipmakers competing for the grants. 
This comes on top of an already proposed $8.5 billion in grants and $11 billion in loans Intel is negotiating under the broader CHIPS Act, which seeks to revitalize the U.S. semiconductor industry.
INTC Price Action: Intel shares were up by 6.36% at $20.91 Monday at market close, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a>
<figure class="wp-block-image size-large is-resized"><a href="https://benzinga.slack.com/archives/D072651PB4K/p1722883001180099"><img loading="lazy" decoding="async" width="1024" height="541" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16154620/INTC-1-1024x541.png" alt="" class="wp-image-550487" style="width:406px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16154620/INTC-1-1024x541.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16154620/INTC-1-300x159.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16154620/INTC-1-768x406.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16154620/INTC-1.png 1393w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
See Also:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/09/40882699/bill-surges-6-in-a-month-should-you-buy-hold-or-sell-the-stock">BILL Surges 6% in a Month: Should You Buy, Hold or Sell the Stock?</a></li>
</ul>
Photo: Shutterstock

Movers

INTC

Intel Shares Jump On Reports Of Possible $3 Billion Military Chip Funding

Blizzard&#8217;s Diablo 4 has reportedly generated $150 million from in-game microtransactions since its release in<a href="https://www.benzinga.com/top-stories/24/06/39488706/get-ready-for-diablo-4-season-5-ptr-highlights-and-expansion-teasers"> June 2023. </a>
The information comes from a now-deleted LinkedIn post by Harrison Froeschke, Blizzard's senior product manager.
<a href="https://www.eurogamer.net/diablo-4-has-reportedly-earned-blizzard-150m-from-microtransactions">According</a> to Eurogamer, in the post, Froeschke said: &#8220;I led the monetisation strategy of the store cosmetics, pricing, bundle offers, personalised discounts, and roadmap planning which have driven over $150m [microtransaction] lifetime revenue.&#8221;
See Also: <a href="https://www.benzinga.com/general/gaming/23/06/32765224/activision-blizzards-diablo-4-shatters-sales-records-but-in-game-shop-prices-spark-controversy">Activision Blizzard&#8217;s &#8216;Diablo 4&#8217; Shatters Sales Records, But In-Game Shop Prices Spark Controversy</a>
<h3 class="wp-block-heading">Financial Performance Of Diablo 4</h3>
Froeschke's LinkedIn post also provided insight into the broader financial success of Diablo 4. According to Froeschke, the game's sales has &#8220;resulted in over $1bn total lifetime revenue.&#8221;
Blizzard previously reported that Diablo 4 generated $666 million within the first five days of its release. Froeschke's post said that this success is attributed to both direct sales and in-game purchases, noting that their strategy for &#8220;pricing, bundles, and discounts&#8221; was crucial in achieving these figures.
<h3 class="wp-block-heading">Impact Of Xbox Game Pass Changes</h3>
The success of Diablo 4 is also linked to recent changes in Xbox Game Pass. In July, Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) introduced a new tier called Game Pass Standard, which removed day-one releases and access to over 40 games, including Diablo 4. 
The removal of these titles could impact the choices of gamers subscribed to this tier. Froeschke's post stressed the significance of maintaining strong monetization strategies outside of subscription services: &#8220;Our focus on in-game purchases has proved essential in achieving substantial revenue.&#8221;
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/23/01/30588987/microtransactions-dominate-30-of-the-200-billion-gaming-market-this-startup-is-fighting-back">Microtransactions Dominate 30% Of The $200 Billion Gaming Market – This Startup Is Fighting Back</a></li>
</ul>
Image credits: Shutterstock.

Gaming

General

MSFT

Blizzard's Diablo 4 Generates $150M From Microtransactions, Contributing To Over $1B In Sales

Offerings

Box, Inc. Announces Proposed $400M Private Offering Of Convertible Senior Notes Due 2029 With Additional $60M Option, Proceeds To Support Repurchase Of 2026 Notes And General Corporate Purposes

Consistent with the announcement by Udemy, Inc. on July 31, 2024, regarding driving greater operational efficiencies through reduction of organizational layers, optimization of the Company&rsquo;s go-to-market organization, and relocation of certain roles to lower cost locations, on September 11, 2024, the Company committed to a restructuring plan that will impact approximately 280 of the Company&#39;s global employees.
The Company expects to rehire approximately half of the impacted roles, primarily in lower cost geographies. As a result, the Company expects to recognize restructuring charges between&nbsp;$16 million and $19 million, which primarily consist of personnel expenses such as salaries and wages, one-time severance payments, and other benefits.
These charges will be recognized into expense beginning in the third quarter of 2024 and ending in the first quarter of 2025. Cash payments related to these expenses will be spread across the next several fiscal quarters. The restructuring is expected to be completed by March 31, 2025.

UDMY

Udemy Says On September 11, 2024, It Committed To Restructuring Plan That Will Impact Approximately 280 Of Its Global Employees - Filing

New Jersey's cannabis industry is budding with unique cultivators and Brighterside Farms stands out in this growing landscape. Founded by Lyndsey Shaw, this small, family-run operation has cultivated a reputation for producing top-shelf, artisanal cannabis using sustainable, living soil methods. 
Brighterside Farms isn't about mass production: it&#8217;s about crafting a product with heart and identity, something worth seeking out. Shaw's journey, from her consulting roots in Colorado to managing a DEA-controlled experimental grow, has given her a depth of experience that sets her operation apart, offering valuable insights for those curious about the future of craft cannabis in New Jersey.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can't afford to miss out if you&#8217;re serious about the business.</li>
</ul>
<h3 class="wp-block-heading">DEA Experience: A Unique Edge</h3>
Shaw has been deeply involved in the cannabis industry for over 20 years. In 2006, she and her partner, Frank, began their journey in Colorado as caregivers. As the industry evolved, Shaw shifted into consulting, helping cultivators transition from small-scale, homegrown setups to fully operational commercial grows.
In 2021 when she and her team were selected to manage one of the few DEA-sanctioned cannabis grows. "We had to treat cannabis like it was fentanyl," Shaw explained, referring to the strict Schedule I drug guidelines they had to follow. This high-level compliance experience gave her invaluable knowledge about federal cannabis cultivation protocols, setting Brighterside Farms apart in a rapidly changing industry.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="768" height="1024" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16133244/IPM-Clones-edit-768x1024.jpg" alt="" class="wp-image-550233" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16133244/IPM-Clones-edit-768x1024.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16133244/IPM-Clones-edit-225x300.jpg 225w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16133244/IPM-Clones-edit.jpg 810w" sizes="(max-width: 768px) 100vw, 768px" /></figure>
<h2 class="wp-block-heading">Why New Jersey?</h2>
In 2018, Shaw and her team foresaw the potential of New Jersey's cannabis market. "<a href="https://www.benzinga.com/topic/new-jersey-cannabis">New Jersey</a> is my home," Shaw explained, having grown up in Philadelphia and South Jersey. But more than nostalgia drove this move. With only a few large cultivators operating in the state, there was—and still is—a gap for high-quality, artisanal cannabis. Shaw saw the perfect opportunity to fill it.
<h3 class="wp-block-heading">Sustainability Meets Craftsmanship</h3>
Brighterside Farms uses a living soil system, which is both <a href="https://www.benzinga.com/markets/cannabis/21/09/23003633/watch-legal-ep-iii-cannabis-and-living-soil-with-juan-tambolini-of-uruguays-tambo-farms">environmentally sustainable</a> and cost-effective. The grow beds are filled with organic, nutrient-rich soil that is reused after each harvest, reducing the farm&#8217;s operational costs.&nbsp;
"Our COGs (cost of goods sold) are low," Shaw pointed out. Traditional grow methods, which use Rockwool and salts, discard their growing medium after each cycle, whereas Brighterside Farms refreshes their soil with dry amendments, significantly lowering waste.
The operation spans 2,500 square feet under the canopy and operates with a skeleton crew.&nbsp;
Shaw&#8217;s team includes herself, her partner Frank, a part-time helper and even her mother, who assists with packaging. Despite the small team, the company manages to outpace many larger operations, proving that expertise trumps size when it comes to efficiency.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/40845389/nj-governor-signs-bill-tightening-rules-on-hemp-industry-stakeholders-protest-big-alcohol-celebr">NJ Governor Signs Bill Tightening Rules On Hemp: Industry Stakeholders Protest, Big Alcohol Celebrates</a>
<h3 class="wp-block-heading">Brighterside's Market Segmentation&nbsp;</h3>
Shaw has developed three distinct product lines: Heritage, Exotic and Reserve. These categories cater to a broad spectrum of cannabis consumers.
<ul>
<li>Heritage: Focuses on nostalgic strains like Sour Diesel and New York City Diesel, strains that East Coast consumers know and love.</li>
<li>Exotic: Features new and trending strains like Free Mac and Cream Cakes, appealing to the "THC chasers" in the market.</li>
<li>Reserve: A rotating selection of limited-edition strains that keep consumers coming back for something new.</li>
</ul>
All products are hand-trimmed, packaged in glass jars and sealed for freshness. The company is currently selling its products in 19 dispensaries, with over 50 more on the waitlist. This demand speaks volumes about the quality and consistency of Brighterside's offerings.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="768" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16133109/Early-Flower-edit-1024x768.jpg" alt="weed cannabis marijuana new jersey" class="wp-image-550229" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16133109/Early-Flower-edit-1024x768.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16133109/Early-Flower-edit-300x225.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16133109/Early-Flower-edit-768x576.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16133109/Early-Flower-edit.jpg 1440w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Courtesy of Brighterside Farms</figcaption></figure>
<h3 class="wp-block-heading">The Power Of Small-Batch Craft Cannabis</h3>
While many New Jersey growers aim for large-scale, commercial operations, Brighterside Farms has chosen a different path: craft cannabis. Its commitment to quality over quantity has helped it carve out a niche in a crowded market. 
"Our consumers are educated," Shaw emphasized. "They're looking for more than just high-THC; they want flavor, aroma and a connection to the plant."
According to Shaw, Brighterside's products deliver a longer-lasting, more potent high due to their higher nutritional value and the careful preservation of<a href="https://www.benzinga.com/general/biotech/24/05/38626097/why-does-tangie-smell-so-fruity-because-non-terpene-compounds-include-guava-papaya-and-passionfru"> terpenes</a>.&nbsp;
"Smoking organic weed is like choosing an heirloom tomato over a mass-produced one—it's just better," she explained. "Our cannabis has a higher nutritional value, which leads to a more sustainable high. Customers have told us, ‘I used to need four jars a week, but with your product, I only need one.'"&nbsp;
Shaw also emphasized the importance of terpenes: "It's what gives cannabis its flavor and aroma, and we want to make sure that when our customers open a jar, they get that full experience." To preserve that quality, she noted, "We hand-trim and seal all our jars with heat induction to lock in freshness, so when you open it, it's like opening something that was just harvested."
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="683" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16133345/Brighterside-Packaging-35927-1024x683.jpg" alt="" class="wp-image-550235" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16133345/Brighterside-Packaging-35927-1024x683.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16133345/Brighterside-Packaging-35927-300x200.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16133345/Brighterside-Packaging-35927-768x512.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16133345/Brighterside-Packaging-35927-1536x1024.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16133345/Brighterside-Packaging-35927.jpg 1620w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">A Brighter Future&nbsp;</h3>
As the farm expands, it remains focused on crafting exclusive strains and participating in the next cannabis cup in <a href="https://www.benzinga.com/topic/new-jersey-cannabis">New Jersey's market</a>.&nbsp;
Read Next:<a href="https://www.benzinga.com/markets/cannabis/24/08/40346190/75-for-an-eighth-of-an-ounce-why-are-new-jersey-cannabis-prices-still-so-high"> $75 For An Eighth Of An Ounce? Why Are New Jersey Cannabis Prices Still So High?</a>

Cannabis

Entrepreneurship

Success Stories

Small Business

Exclusives

Interview

How This Former DEA Consultant Is Making Craft Cannabis Profitable In New Jersey: A 'Dirt-y' Little Secret

Outlook
For the third quarter of fiscal 2024 the Company expects total company net sales to be flat to down low single digits compared to $84.1 million in the third quarter of fiscal 2023. The Company expects third quarter fiscal 2024 total company operating margin to increase 350 basis points to 450 basis points compared to total company adjusted operating margin of 3.7% in the third quarter of fiscal 2023. Starting with the third quarter of fiscal 2024, the Company has anniversaried periods of non-comparable royalty expenses and non-comparable expense favorability due to the wind down of Rebecca Taylor and therefore, the third quarter of fiscal 2024 is the Company's first full quarter in which it is comparing to a more like-for-like business model. In addition, this guidance takes into account the earlier than expected timing of wholesale shipments which benefitted the second quarter of fiscal 2024, as well as the expected ongoing impact of more disciplined promotional activity in the Company's direct-to-consumer channel.
For full year fiscal 2024 the Company now expects total company net sales to decrease in the low-single-digit range compared to $292.9 million in fiscal 2023. The updated guidance reflects revised expectations for the Company's direct-to-consumer performance, while expectations for the wholesale business has remained unchanged. The Company now expects full year fiscal 2024 total company operating margin, excluding the $7.6 million Gain on Sale of Subsidiary recorded in the first quarter, to increase 25 basis points to 50 basis points compared to total company adjusted operating margin of 1.4% in fiscal 2023. This outlook includes an approximate 140 basis point negative impact from non-comparable royalty expenses through May 2024.
As a reminder, fiscal 2023 included a 53rd week which represented approximately $2.2 million in net sales. The outlook for fiscal 2024 incorporates the impact from the comparison of a 52-week fiscal year to a 53-week fiscal year.

Guidance

VNCE

Vince Holding Corp. Sees Q3 Revenue To Be Flat To Down Low Single Digits Vs Q3 2023; Sees FY24 Net Sales To Decrease In The Low-Single-Digit Range Vs FY23

Fine Fettle, Norwalk&#8217;s first <a href="https://www.benzinga.com/cannabis">cannabis</a> dispensary, is facing a solar energy conundrum. The company is asking the city's Planning and Zoning Commission to waive a solar panel installation requirement at its 191 Main St. site, citing feasibility issues that could impact its bottom line. As <a href="https://www.ctinsider.com/cannabis/article/norwalk-fine-fettle-cannabis-solar-panels-19747688.php">reported</a> by CT Insider, the dispensary, which opened in March 2024, was initially granted a <a href="https://drive.google.com/file/d/1N4b-i6hZvlWTKTtkVJp7B2mnsL34WmfY/view">special permit</a> in 2023, contingent on installing rooftop and covered parking solar panels or providing a feasibility report explaining why it couldn&#8217;t comply.
Ahead of the Commission's September 5 meeting, Fine Fettle chief operating officer Ben Zachs submitted calculations highlighting the challenges. According to Zachs, rooftop solar panels are not financially viable for the site, as shading from a nearby tree significantly limits potential energy output. "This is not a philosophical issue, it's a feasibility issue of having a small roof with a tree blocking it and not wanting to spend money on something that's going to take longer than our rent to pay back," Zachs explained during the meeting.
<h3 class="wp-block-heading">Solar Feasibility And Financial Hurdles</h3>
Fine Fettle&#8217;s request stems from concerns that the investment required for solar installation won&#8217;t provide sufficient financial returns within the 10-year lease term for the property. The company&#8217;s estimates, based on assessments from solar firms, suggest that rooftop solar would only generate about 6,500 kWh annually—far below the National Renewable Energy Laboratory&#8217;s (NREL) projections of over 49,000 kWh. The discrepancy is largely attributed to shading from the tree, which Fine Fettle does not own and cannot remove.
CTEC Solar, the Bloomfield-based company that provided Fine Fettle's estimate, also advised against moving forward with the project. "We are not advising moving forward with this project as Fine Fettle's usage is much greater (than 6,500 kWh), and the financial benefits do not align," said CTEC owner and president Mickey Toro in a letter included in the commission's memo.
Fine Fettle's internal calculations, using CTEC&#8217;s figures, estimate a return on investment (ROI) of only 2.4%, with costs balanced out over a span of 40 years—well beyond the company's current lease term. Another solar company, Telyon, declined the project entirely, citing a similarly low ROI of 2.9%.
<h3 class="wp-block-heading">Parking Lot Dilemma</h3>
Beyond the rooftop challenges, the commission suggested Fine Fettle explore solar panel installation in the adjacent parking lot, which is owned by the same lessor. However, Zachs expressed concerns about losing valuable parking spaces. "We generally have about nine to 11 of our 74 open hours a week where we are using all of the parking spots, and there are people circling around," he said, emphasizing the operational impact of reducing parking capacity.
The commission previously approved a landscaping feature that could replace two parking spaces, but Zachs requested that the condition be waived, citing the current parking demand.
<h3 class="wp-block-heading">The Path Forward</h3>
While Fine Fettle does not oppose solar energy—the company uses solar power at its other locations in <a href="https://www.benzinga.com/topic/connecticut-cannabis">Connecticut</a>—it insists that the Main St. site presents unique challenges that make solar installation financially and operationally impractical. Despite this, the commission&#8217;s memo indicated that the company's calculations did not fully meet the feasibility condition, which requires a comprehensive ROI summary including cost, production and payoff details.
Cover image made with AI

Psychedelics

Norwalk, CT's First Cannabis Dispensary Faces Solar Panel Dilemma: Tree Shade And Low ROI Hinder Compliance

Momentum investing is essentially an exception to the idea of &quot;buying low and selling high.&quot; Investors following this style of investing are usually not interested in betting on cheap stocks and waiting long for them to recover. Instead, they believe that &quot;buying high and selling higher&quot; is the way to make far more money in lesser time.
Who doesn&#39;t like betting on fast-moving trending stocks? But determining the right entry point isn&#39;t easy. Often, these stocks lose momentum once their valuation moves ahead of their future growth potential. In such a situation, investors find themselves loaded up on expensive shares with limited to no upside or even a downside. So, going all-in on momentum could be risky at times.
A safer approach could be investing in bargain stocks with recent price momentum. While the Zacks Momentum Style Score&nbsp;helps identify great momentum stocks by paying close attention to trends in a stock&#39;s price or earnings, our &#39;Fast-Paced Momentum at a Bargain&#39; screen comes handy in spotting fast-moving stocks that are still attractively priced.
DXP Enterprises (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dxpe#NASDAQ">DXPE</a>) is one of the several great candidates that made it through the screen. While there are numerous reasons why this stock is a great choice, here are the most vital ones:
A dash of recent price momentum reflects growing interest of investors in a stock. With a four-week price change of 0.7%, the stock of this industrial products supplier is certainly well-positioned in this regard.
While any stock can see a spike in price for a short period, it takes a real momentum player to deliver positive returns for a longer time frame. DXPE meets this criterion too, as the stock gained 2.8% over the past 12 weeks.
Moreover, the momentum for DXPE is fast paced, as the stock currently has a beta of 1.6. This indicates that the stock moves 60% higher than the market in either direction.
Given this price performance, it is no surprise that DXPE has a Momentum Score of A, which indicates that this is the right time to enter the stock to take advantage of the momentum with the highest probability of success.
In addition to a favorable Momentum Score, an upward trend in earnings estimate revisions has helped DXPE earn a Zacks Rank #2 (Buy). Our research shows that the momentum-effect is quite strong among Zacks Rank #1 and #2 stocks. That&#39;s because as covering analysts raise their earnings estimates for a stock, more and more investors take an interest in it, helping its price race to keep up.
Most importantly, despite possessing fast-paced momentum features, DXPE is trading at a reasonable valuation. In terms of Price-to-Sales ratio, which is considered as one of the best valuation metrics, the stock looks quite cheap now. DXPE is currently trading at 0.47 times its sales. In other words, investors need to pay only 47 cents for each dollar of sales.
So, DXPE appears to have plenty of room to run, and that too at a fast pace.
<a href="https://www.zacks.com/stock/news/2336334/fast-paced-momentum-stock-dxp-enterprises-dxpe-is-still-trading-at-a-bargain?cid=CS-BENZ-FT-tale_of_the_tape|fast_paced_momentum_at_a_bargain-2336334">To read this article on Zacks.com click here.</a>

DXPE

Fast-Paced Momentum Stock DXP Enterprises Is Still Trading at a Bargain

Vince Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNCE#NYSE">VNCE</a>) reported quarterly earnings of $0.05 per share which beat the analyst consensus estimate of $(0.25) by 120 percent. This is a 225 percent increase over losses of $(0.04) per share from the same period last year. The company reported quarterly sales of $74.17 million which beat the analyst consensus estimate of $68.22 million by 8.72 percent. This is a 6.80 percent increase over sales of $69.45 million the same period last year.

Earnings Beats

Vince Holding Q2 EPS $0.05 Beats $(0.25) Estimate, Sales $74.17M Beat $68.22M Estimate

Management

TCPC

BlackRock TCP Capital Board Chairman And CEO Rajneesh Vig Will Resign Until Jan. 31, 2025; Phil Tseng Will Succeed Raj Vig As Chairman; Jason Mehring To Assume Role Of President

AAR And Defense Logistics Agency Land And Maritime Sign Supply Chain Alliance To Enhance Joint Support For U.S. Warfighter

Two weeks of the 2024 National Football League season are almost in the books with soaring interest from fans around the world, which could benefit media companies that <a href="https://www.benzinga.com/general/entertainment/23/10/35320588/nfl-viewership-dominates-ratings-for-broadcast-streaming-with-or-without-taylor-swift-fans-">have NFL rights.</a>
What Happened: Viewership figures are in for the first week of the NFL season along with the first "Thursday Night Football" game from Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) streaming platform Prime Video, which kicked off<a href="https://www.benzinga.com/general/entertainment/24/09/40841727/nfl-week-2-betting-odds-media-stocks-to-watch-will-josh-allen-stay-perfect-on-thursdays-can"> the second week.</a>
The first week saw NFL games average 21 million viewers, setting the highest opening-week average on record for the league.
Among the media companies that benefitted from the opening week of the NFL season were Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>), Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARAA#NASDAQ">PARAA</a>), Fox Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOX#NASDAQ">FOX</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOXA#NASDAQ">FOXA</a>) and The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>).
Comcast had three prime-time games during the first week with the opening game on Sept. 5, a Peacock streaming exclusive on Sept. 6 and the opening weekend's Sunday Night Football game. Viewership for the opening kickoff game was 29.2 million, up 9% to last year's kickoff game, as <a href="https://www.hollywoodreporter.com/tv/tv-news/tv-ratings-nfl-returns-in-dominating-form-1236001230/">reported </a>by The Hollywood Reporter.
The Friday night Peacock exclusive game had an average of 14 million viewers. The opening Sunday Night Football game was watched by an average of 22.8 million people across NBC and Peacock.
Disney saw 20.5 million viewers for the first Monday Night Football game of the season across ABC, ESPN, ESPN2 and streaming platforms.
CBS and Fox also saw strong viewership for the Sunday afternoon games with Fox averaging an impressive 23.9 million viewers for the late Sunday afternoon national game between the Dallas Cowboys and Cleveland Browns, which was Tom Brady's Fox broadcast debut for broadcasting.
The second week of the NFL season kicked off with a ban with Amazon's first 2024 game seeing an average of 14.96 million viewers. The figure was the third largest Thursday Night Football game for Amazon ever and significantly ahead of the company's 2023 season average viewership of 11.8 million viewers.
Read Also: <a href="https://www.benzinga.com/general/entertainment/24/09/40776084/kendrick-lamar-to-perform-super-bowl-lix-halftime-could-apple-fox-and-universal-music-get-a">Kendrick Lamar To Perform Super Bowl LIX Halftime: Could Apple, Fox And Universal Music Get A Boost?</a>
Why It's Important: Media companies continue to shell out millions of dollars for national sports rights, especially the NFL.
The strong opening week viewership show exactly why, as having the rights to key NFL games can help with advertising revenue and also boost streaming subscribers.
In 2023, 93 of the top 100 most watched shows were NFL games, according to data from Nielsen. A <a href="https://variety.com/2023/tv/news/most-watched-shows-2023-ncis-oscars-blue-bloods-super-bowl-yellowstone-1235854795/">report </a>from Variety showed that 45 of the top 100 most watched primetime broadcasts in 2023 were NFL games.
While Disney, Fox and Paramount have benefitted from NFL rights for many years, Comcast could be one of the biggest beneficiaries for the 2024 season with the extra primetime game in the first week and the potential boost to its Peacock streaming platform.
Amazon signed a big streaming-only deal with the NFL that has benefitted the company with additional branding boost for Prime Video and also led to more sign-ups for the streaming platform.
The streaming company's NFL deal also led to other streaming companies ready to commit more to live sports rights, including rival streaming platform Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>).
After years of focusing on what it calls sports adjacent programming of sports docuseries and specials, Netflix is now investing more in live sports content. The streaming giant will air its first NFL games in the 2024 season with two highly anticipated Christmas day matchups.
Netflix will stream the Kansas City Chiefs at Pittsburgh Steelers at 1 p.m. ET and the Baltimore Ravens at Houston Texans at 4:30 p.m. ET on Christmas Day. The games could provide a boost to Netflix's subscriber count, particularly its ad-supported plan which has been a large company focus.
For the NFL, media partners mean big dollars. For media partners, the NFL means big viewership and advertising money. A potential win-win for all parties involved.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/sports-betting/24/05/38909548/2024-nfl-schedule-unpacked-media-partners-win-taylor-swift-tour-dates-considered-new-betti">2024 NFL Schedule Unpacked: Media Partners Win, Taylor Swift Tour Dates Considered, New Betting Odds And More</a></li>
</ul>
Image: Shutterstock

Entertainment

Sports

AMZN

CMCSA

FOXA

NFLX

PARA

PARAA

NFL Games Dominate Week 1 Ratings, Start Week 2 With A Bang: Here These Companies Might Benefit

CMND

Clearmind Medicine Announces Announces Publication Of Patent Application Under Patent Cooperation Treaty For Ibogaine Combination Therapy

As of June 30, 2024, the Company&#39;s balance sheet included approximately&nbsp;$108 million&nbsp;of deposits, representing about&nbsp;2%&nbsp;of total deposits, and&nbsp;$31 million&nbsp;of loans, representing less than&nbsp;1%&nbsp;of total loans, related to its BaaS offerings.&nbsp;
The Company looks forward to providing additional detail on its&nbsp;third quarter&nbsp;earnings call in October.
As the Bank begins the process of working to support orderly transitions for its BaaS partner firms, the Bank is preliminarily targeting completion of the wind down of its BaaS business sometime in 2025.
The Bank expects to retain all personnel positions supporting the BaaS line of business, both through the wind down period and beyond, refocusing those roles on supporting the growth of its core banking operations.
&nbsp;

FISI

Financial Institutions Intends To Begin An Orderly Wind Down Of Its BaaS Offerings; Expects Financial Impact To Be Immaterial

WIIM

Intel shares are trading higher after the company announced a strategic collaboration with AWS to help advance US-based chip manufacturing.

RF Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RFIL#NASDAQ">RFIL</a>) reported quarterly losses of $(0.01) per share which missed the analyst consensus estimate of $0.06 by 116.67 percent. The company reported quarterly sales of $16.800 million which missed the analyst consensus estimate of $17.843 million by 5.85 percent. This is a 7.33 percent increase over sales of $15.652 million the same period last year.

Earnings Misses

RFIL

RF Industries Q3 2024 Adj. EPS $(0.01) Misses $0.06 Estimate, Sales $16.800M Miss $17.843M Estimate

Last week, the Biden administration <a href="https://www.benzinga.com/markets/asia/24/09/40856820/biden-hikes-tariffs-on-chinese-goods-alibaba-jd-com-stocks-drop">locked in a package of steep tariffs on Chinese goods</a>, including a 100% tax on electric vehicles made in China.&nbsp;
The new tariffs also cover Chinese solar panels, EV batteries, steel, aluminum and other key minerals as part of a larger effort to relocate manufacturing, boost U.S. jobs and incentivize sales for American carmakers.
The move also comes six weeks before the <a href="https://www.benzinga.com/topic/2024-election">November election</a>, where Michigan, home of the American car industry, continues to be a battleground state.&nbsp;
Detroit is still the home base for two of the Big Three automakers, General Motors Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Ford Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>).
Protectionist policies are a direct response to calls for relief for U.S. carmakers. Earlier this year, Ford executives <a href="https://www.benzinga.com/markets/asia/24/03/37469245/beijing-vs-detroit-chinese-ev-innovation-speed-could-smash-tariff-barriers-and-invade-us-auto-sector">warned that a flood of Chinese EV would mean the demise</a> of the U.S. auto industry. The sentiment was echoed by Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk.
As Chinese automakers like BYD Company (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) and Nio Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) expand their market share across Europe, Asia, and the Middle East, protectionist policies are increasingly viewed as a response to rising competition, both by government officials and automotive executives.
But what if they aren't?
A Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-09-16/how-can-us-beat-china-in-affordable-evs-copy-byd?srnd=homepage-americas&amp;sref=TBDibEcD">report</a> argues that letting Chinese companies in could be the lifeline that U.S. carmakers need in a time of stagnating growth.
Electric vehicles have surpassed 50% of all new car sales in China this summer. But for the U.S. that figure<a href="https://www.benzinga.com/news/24/08/40624770/us-ev-sales-in-2024-to-reach-only-9-amid-slower-growth-marking-a-significant-drop-from-12-estimate-r"> is less than 10% and has slowed down from previous years</a>.
EV sales in the U.S. are significantly outpaced globally, where electric vehicles now make up 35% of <a href="https://www.benzinga.com/news/events/24/09/40798189/with-ev-sales-up-35-can-the-us-power-grid-keep-up-one-expert-weighs-in">all car sales around the world</a>.
The U.S.'s inability to catch up with global trends is partially explained by protectionist state policies and partially by the peculiarities of its market, which is highly focused on large vehicles like SUVs and pick-up trucks.
Read also: <a href="https://www.benzinga.com//node/40831151">Global EV Sales Touch 9.8M In 2024 At August End, But US Market&#8217;s Fate Tied To Upcoming Elections, Says Rho Motion</a>
Selling expensive SUVs and trucks has been a positive strategy for Detroit carmakers, but has also hampered their ability to electrify the market, as heavy vehicles are harder to turn electric than compact cars and sedans.
Last month, Ford <a href="https://www.benzinga.com/top-stories/24/08/40496864/ford-scraps-electric-suv-as-it-adjusts-to-lower-electric-vehicle-demand">scrapped an electric SUV and delayed the launch of its electric pick-up truck</a>, citing slow EV demand in the U.S.
<h3 class="wp-block-heading">Should The U.S. Open The Floodgates?</h3>
Detroit carmakers are increasingly exploring Chinese technology for their future EV models.
In a recent report, Ford CEO Jim Farley <a href="https://www.wsj.com/business/autos/ford-china-ev-competition-farley-ceo-50ded461">told</a> The Wall Street Journal that Chinese EV companies are significantly ahead of Detroit automakers, following his trip to the country.
Ford has reportedly been dissecting Chinese EVs in an effort to understand how they're managing to reach such low prices and still keep superb quality.
General Motors <a href="https://www.benzinga.com/markets/equities/24/09/40839765/gm-eyes-us-made-chinese-batteries-in-deal-with-japans-tdk-report">is in talks to acquire electric vehicle batteries</a> made utilizing technology from China's Contemporary Amperex Technology Co.
While opening the door to Chinese companies would destabilize the local market in the short term, it would also push Detroit carmakers to become more competitive.
China's automotive industry grew from being almost insignificant some decades ago, to becoming a global leader today. 
This growth was driven by a requirement for foreign automakers to partner with local manufacturers to access the Chinese market, a rule implemented after the country opened up to foreign companies in the 1980s.
According to TrendForce's February 2024 report, Chinese manufacturers account for three of the top five spots for global market share.
BYD has 17%,Guangzhou Automobile Group Co Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GNZUF#OTC">GNZUF</a>) has 5.2% and Wuling Motors Holdings Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/WLMTF#OTC">WLMTF</a>) has 4.9%. Tesla is at the top of the list with 19% while Volkswagen (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAPY#OTC">VWAPY</a>) is number five.
Pairing foreign companies with local manufacturers has allowed the Chinese industry to gain the knowledge and expertise needed to become a giant in just a few decades. A similar deal could feed Chinese knowhow into the U.S. car industry, while also allowing the country to speed up its shift to a decarbonized car industry.
Now read:
<ul>
<li><a href="https://www.benzinga.com//node/40866380">Tesla China Shines, Lucid Gives Peek Into Model Y Rival, Ford Eyes &#8216;Electric&#8217; Restart In India And More: Biggest EV Stories Of The Week</a></li>
<li></li>
</ul>
Photo: Shutterstock

Asia

BYDDY

GNZUF

TSLA

VWAPY

WLMTF

50% Of New Car Sales In China Are Electric — But In The US, It's Only 10%: Are Protectionist Policies Widening The Gap?

Cartica Acquisition Corporation Class A (CITE) has released an update. Cartica Acquisition Corp has announced an extraordinary general meeting inst...

Cartica Acquisition Corp Announces Extraordinary General Meeting

Cartica Acquisition Corporation Class A (CITE) has released an update. Cartica Acquisition Corp has amended a promissory note to borrow an increase...

Cartica Acquisition Upsizes Sponsor Loan for Business Operations

An announcement from Cartica Acquisition Corporation Class A (CITE) is now available. Cartica Acquisition Corp is urging its shareholders to suppor...

Cartica Acquisition Corp Proposes Deadline Extension

Nidar Infrastructure to become U.S.-listed company by business combination with Cartica

An announcement from Cartica Acquisition Corporation Class A (CITE) is now available. Cartica Acquisition Corp has entered into a Business Combinat...

Cartica Acquisition's Strategic Merger with Nidar and Yotta

CITE

Press Releases

CARTICA ACQUISITION CORP ANNOUNCES CONTRIBUTION TO TRUST ACCOUNT FOR EXTENSION AMENDMENT

LEADING DATA CENTER PROVIDER FOR AI - NIDAR INFRASTRUCTURE LIMITED - TO BECOME A U.S.-LISTED COMPANY VIA BUSINESS COMBINATION WIH CARTICA ACQUISITION CORP

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates HCVI, CITE, ADRT on Behalf of Shareholders

ADRT

CITEU

HCVI

Cartica Acq

The pre-transaction equity value of Nidar implied by the Business Combination terms is approximately&nbsp;$2.75 billion. Cartica is a special purpose acquisition company seeking to identify and complete a business combination with a suitable business combination partner in the technology space.

Nidar is&nbsp;India&#39;s&nbsp;leading data center provider for artificial intelligence and high-performance compute.&nbsp;

Nidar Infrastructure, Cartica Acquisition Enter Definitive Deal And Plan Of Merger For Business Combination; Nidar To Become US-Listed Company

Cartica Acquisition Says On Apr. 5, Sanjeev Goel Tendered Resignation As CEO, Member Of Board; Says Effective Apr. 7, Director Steve Quamme Was Appointed Interim CEO

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Comments

Cartica Acq

News

Latest news for Cartica Acq (NASDAQ:CITE) Stock

Monday, June 24, 2024

Monday, April 10, 2023