LAS VEGAS — Players Era Festival organizers have done what so many other have tried — bet their fortunes in this city that a big payoff is coming. Such bet are usually bad ones, which is why so many massive casino-resorts have been built on Las Vegas Boulevard. But it doesn't mean the organizers are wrong. They're counting on the minimum of $1 million in guaranteed name, image and likeness money that will go to each of the eight teams competing in the neutral-site tournament that begins Tuesday will create a precedent for other such events. EverWonder Studios CEO Ian Orefice, who co-founded Players with former AND1 CEO Seth Berger, compared this event to last year's inaugural NBA In-Season Tournament that played its semifinals and final in Las Vegas by saying it "did really well to reinvigorate the fan base at the beginning of the year." "We're excited that we're able to really change the paradigm in college basketball on the economics," Orefice said. "But for us, it's about the long term. How do we use the momentum that is launching with the 2024 Players Era Festival and be the catalyst not to change one event, but to change college basketball for the future." Orefice and Berger didn't disclose financial details, but said the event will come close to breaking even this year and that revenue is in eight figures. Orefice said the bulk of the revenue will come from relationships with MGM, TNT Sports and Publicis Sport & Entertainment as well as sponsors that will be announced later. Both organizers said they are so bullish on the tournament's prospects that they already are planning ahead. Money made from this year's event, Orefice said, goes right back into the company. "We're really in this for the long haul," Orefice said. "So we're not looking at it on a one-year basis." Rick Giles is president of the Gazelle Group, which also operates several similar events, including the College Basketball Invitational. He was skeptical the financial numbers would work. Giles said in addition to more than $8 million going to the players, there were other expenses such as the guarantees to the teams. He said he didn't know if the tournament would make up the difference with ticket sales, broadcast rights and sponsorship money. The top bowl of the MGM Grand Garden Arena will be curtained off. "The math is highly challenging," Giles said. "Attendance and ticket revenues are not going to come anywhere close to covering that. They haven't announced any sponsors that I'm aware of. So it all sort of rests with their media deal with Turner and how much capital they want to commit to it to get these players paid." David Carter, a University of Southern California adjunct professor who also runs the Sports Business Group consultancy, said even if the Players isn't a financial success this year, the question is whether there will be enough interest to move forward. "If there is bandwidth for another tournament and if the TV or the streaming ratings are going to be there and people are going to want to attend and companies are going to want to sponsor, then, yeah, it's probably going to work," Carter said. "But it may take them time to gain that traction." Both founders said they initially were met with skepticism about putting together such an event, especially from teams they were interested in inviting. Houston was the first school to commit, first offering an oral pledge early in the year and then signing a contract in April. That created momentum for others to join, and including the No. 6 Cougars, half the field is ranked. "We have the relationships to operate a great event," Berger said. "We had to get coaches over those hurdles, and once they knew that we were real, schools got on board really quickly." The founders worked with the NCAA to make sure the tournament abided by that organization's rules, so players must appear at ancillary events in order to receive NIL money. Strict pay for play is not allowed, though there are incentives for performance. The champion, for example, will receive $1.5 million in NIL money. Now the pressure is on to pull off the event and not create the kind of headlines that can dog it for years to come. "I think everybody in the marketplace is watching what's going to happen (this) week and, more importantly, what happens afterwards," Giles said. "Do the players get paid on a timely basis? And if they do, that means that Turner or somebody has paid way more than the market dictates? And the question will be: Can that continue?" CREIGHTON: P oint guard Steven Ashworth likely won’t play in the No. 21 Bluejays’ game against San Diego State in the Players Era Festival in Las Vegas. Ashworth sprained his right ankle late in a loss to Nebraska on Friday and coach Greg McDermott said afterward he didn’t know how long he would be out. Be the first to know Get local news delivered to your inbox!
Sanctuary Advisors LLC purchased a new position in shares of Gentex Co. ( NASDAQ:GNTX – Free Report ) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 12,263 shares of the auto parts company’s stock, valued at approximately $373,000. Other institutional investors also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in Gentex during the second quarter worth approximately $31,000. EverSource Wealth Advisors LLC increased its position in Gentex by 173.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock worth $42,000 after buying an additional 850 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its position in Gentex by 227.8% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock worth $54,000 after buying an additional 1,269 shares during the period. HHM Wealth Advisors LLC purchased a new position in shares of Gentex in the 2nd quarter valued at approximately $67,000. Finally, KBC Group NV grew its stake in shares of Gentex by 13.3% in the 3rd quarter. KBC Group NV now owns 5,664 shares of the auto parts company’s stock valued at $168,000 after purchasing an additional 667 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock. Wall Street Analysts Forecast Growth Several research analysts have weighed in on the company. Robert W. Baird lifted their target price on Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Bank of America lowered their target price on Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Guggenheim lowered their target price on Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. The Goldman Sachs Group lowered their target price on Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 1st. Finally, UBS Group assumed coverage on Gentex in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $35.13. Gentex Price Performance Gentex stock opened at $29.21 on Friday. Gentex Co. has a 1-year low of $28.30 and a 1-year high of $37.58. The company has a market cap of $6.64 billion, a PE ratio of 15.62, a price-to-earnings-growth ratio of 1.09 and a beta of 0.91. The stock’s 50 day moving average price is $30.16 and its 200 day moving average price is $30.88. Gentex Dividend Announcement The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, January 8th. This represents a $0.48 annualized dividend and a yield of 1.64%. Gentex’s dividend payout ratio is presently 25.67%. Gentex Company Profile ( Free Report ) Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers. Featured Articles Five stocks we like better than Gentex How Investors Can Identify and Successfully Trade Gap-Down Stocks S&P 500 ETFs: Expense Ratios That Can Boost Your Long-Term Gains How to Calculate Options Profits How AI Implementation Could Help MongoDB Roar Back in 2025 Stock Market Holidays 2022-2025 – Here’s When the NYSE and NASDAQ Will be Closed Hedge Funds Boost Oil Positions: Is a Major Rally on the Horizon? Receive News & Ratings for Gentex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gentex and related companies with MarketBeat.com's FREE daily email newsletter .
SAN DIEGO, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a class action was filed on behalf of all persons and entities that purchased or otherwise acquired Visa Inc. V securities between November 16, 2023 and September 23, 2024. Visa operates one the largest digital payment platforms in the world. For more information, submit a form , email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. The Allegations: Robbins LLP is Investigating Allegations that Visa Inc. (V) Misled Investors Regarding its Monopolization of the Debt Market According to the complaint, during the class period, defendants materially misled investors as to the risk of damaging antitrust investigations being conducted by federal regulators, choosing to downplay the risk despite its high likelihood of manifesting. On September 24, 2024, these risks came to fruition, as the United States Department of Justice sued Visa in federal court for monopolizing the debit card payment processing market. On this news, Visa's stock price fell $1.48, or 5.38%, to close at $26.03 per share on September 24, 2024. What Now : You may be eligible to participate in the class action against Visa Inc. Shareholders who want to serve as lead plaintiff for the class must submit their application to the court by January 20, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here . All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Robbins LLP : Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders. To be notified if a class action against Visa Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today. Attorney Advertising. Past results do not guarantee a similar outcome. Contact: Aaron Dumas, Jr. Robbins LLP 5060 Shoreham Pl., Ste. 300 San Diego, CA 92122 adumas@robbinsllp.com (800) 350-6003 www.robbinsllp.com https://www.facebook.com/RobbinsLLP/ https://www.linkedin.com/company/robbins-llp/ A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/72ab9093-8695-4684-b894-67f423f3ed3c © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Sanctuary Advisors LLC lifted its stake in shares of CEMEX, S.A.B. de C.V. ( NYSE:CX – Free Report ) by 46.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 52,237 shares of the construction company’s stock after purchasing an additional 16,585 shares during the quarter. Sanctuary Advisors LLC’s holdings in CEMEX were worth $319,000 at the end of the most recent quarter. Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new position in CEMEX during the second quarter worth about $33,000. Barclays PLC increased its stake in shares of CEMEX by 41.8% during the 3rd quarter. Barclays PLC now owns 6,249 shares of the construction company’s stock worth $38,000 after purchasing an additional 1,843 shares in the last quarter. Allworth Financial LP raised its position in shares of CEMEX by 36.0% during the 3rd quarter. Allworth Financial LP now owns 6,606 shares of the construction company’s stock worth $40,000 after purchasing an additional 1,747 shares during the last quarter. Aureus Asset Management LLC purchased a new stake in CEMEX in the 3rd quarter valued at approximately $70,000. Finally, Vontobel Holding Ltd. acquired a new stake in CEMEX during the 3rd quarter valued at $77,000. Institutional investors and hedge funds own 82.97% of the company’s stock. Wall Street Analyst Weigh In A number of analysts recently commented on CX shares. JPMorgan Chase & Co. lowered CEMEX from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $7.00 to $6.00 in a research note on Tuesday, October 29th. Barclays decreased their price target on shares of CEMEX from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Royal Bank of Canada lowered shares of CEMEX from a “sector perform” rating to an “underperform” rating and cut their price objective for the company from $6.00 to $5.00 in a research report on Wednesday, December 11th. Scotiabank decreased their target price on shares of CEMEX from $10.00 to $8.90 and set a “sector outperform” rating on the stock in a research report on Tuesday, October 29th. Finally, StockNews.com downgraded CEMEX from a “strong-buy” rating to a “buy” rating in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, CEMEX presently has a consensus rating of “Hold” and an average price target of $7.65. CEMEX Stock Down 0.4 % Shares of NYSE:CX opened at $5.68 on Friday. The company has a market capitalization of $8.23 billion, a price-to-earnings ratio of 18.93 and a beta of 1.50. The company has a 50 day moving average of $5.60 and a two-hundred day moving average of $6.03. CEMEX, S.A.B. de C.V. has a 52-week low of $5.00 and a 52-week high of $9.27. The company has a quick ratio of 0.73, a current ratio of 0.98 and a debt-to-equity ratio of 0.49. CEMEX Dividend Announcement The firm also recently announced a dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 10th were paid a dividend of $0.0207 per share. The ex-dividend date of this dividend was Tuesday, December 10th. CEMEX’s dividend payout ratio is presently 20.00%. CEMEX Company Profile ( Free Report ) CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials and services worldwide. The company offers gray ordinary portland, white portland, oil-well, and blended cement products; mortar; and standard ready-mix, architectural and decorative, rapid-setting, fiber-reinforced, fluid-fill, roller-compacted, self-consolidating, pervious, and antibacterial, and other concrete products. Featured Stories Five stocks we like better than CEMEX How Technical Indicators Can Help You Find Oversold Stocks S&P 500 ETFs: Expense Ratios That Can Boost Your Long-Term Gains What Investors Need to Know About Upcoming IPOs How AI Implementation Could Help MongoDB Roar Back in 2025 How to Capture the Benefits of Dividend Increases Hedge Funds Boost Oil Positions: Is a Major Rally on the Horizon? Receive News & Ratings for CEMEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CEMEX and related companies with MarketBeat.com's FREE daily email newsletter .
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Bogota (Colombia), Dec 28 (AP) 2024 was a brutal year for the Amazon rainforest, with rampant wildfires and extreme drought ravaging large parts of a biome that's a critical counterweight to climate change. A warming climate fed drought that in turn fed the worst year for fires since 2005. And those fires contributed to deforestation, with authorities suspecting some fires were set to more easily clear land to run cattle. Also Read | Azerbaijan Airline Plane Crash: Russian President Vladimir Putin Apologises to Azerbaijan President Ilham Aliyev After Fatal Flight 8432 Crash. The Amazon is twice the size of India and sprawls across eight countries and one territory, storing vast amounts of carbon dioxide that would otherwise warm the planet. It has about 20 per cent of the world's fresh water and astounding biodiversity, including 16,000 known tree species. But governments have historically viewed it as an area to be exploited, with little regard for sustainability or the rights of its Indigenous peoples, and experts say exploitation by individuals and organised crime is rising at alarming rates. Also Read | Blue Origin's New Glenn Rocket Successfully Completes 'Hotfire Test’ Paving Way for Its Launch. “The fires and drought experienced in 2024 across the Amazon rainforest could be ominous indicators that we are reaching the long-feared ecological tipping point,” said Andrew Miller, advocacy director at Amazon Watch, an organisation that works to protect the rainforest. “Humanity's window of opportunity to reverse this trend is shrinking, but still open.” There were some bright spots. The level of Amazonian forest loss fell in both Brazil and Colombia. And nations gathered for the annual United Nations conference on biodiversity agreed to give Indigenous peoples more say in nature conservation decisions. “If the Amazon rainforest is to avoid the tipping point, Indigenous people will have been a determinant factor," Miller said. Wildfires and extreme drought Forest loss in Brazil's Amazon — home to the largest swath of this rainforest — dropped 30.6 per cent compared to the previous year, the lowest level of destruction in nine years. The improvement under leftist President Luiz Inácio Lula da Silva contrasted with deforestation that hit a 15-year high under Lula's predecessor, far-right leader Jair Bolsonaro, who prioritised agribusiness expansion over forest protection and weakened environmental agencies. In July, Colombia reported historic lows in deforestation in 2023, driven by a drop in environmental destruction. The country's environment minister Susana Muhamad warned that 2024's figures may not be as promising as a significant rise in deforestation had already been recorded by July due to dry weather caused by El Nino, a weather phenomenon that warms the central Pacific. Illegal economies continue to drive deforestation in the Andean nation. “It's impossible to overlook the threat posed by organised crime and the economies they control to Amazon conservation,” said Bram Ebus, a consultant for Crisis Group in Latin America. “Illegal gold mining is expanding rapidly, driven by soaring global prices, and the revenues of illicit economies often surpass state budgets allocated to combat them.” In Brazil, large swaths of the rainforest were draped in smoke in August from fires raging across the Amazon, Cerrado savannah, Pantanal wetland and the state of Sao Paulo. Fires are traditionally used for deforestation and for managing pastures, and those man-made blazes were largely responsible for igniting the wildfires. For a second year, the Amazon River fell to desperate lows, leading some countries to declare a state of emergency and distribute food and water to struggling residents. The situation was most critical in Brazil, where one of the Amazon River's main tributaries dropped to its lowest level ever recorded. Cesar Ipenza, an environmental lawyer who lives in the heart of the Peruvian Amazon, said he believes people are becoming increasingly aware of the Amazon's fundamental role “for the survival of society as a whole". But, like Miller, he worries about a “point of no return of Amazon destruction”. It was the worst year for Amazon fires since 2005, according to nonprofit Rainforest Foundation US. Between January and October, an area larger than the state of Iowa — 37.42 million acres, or about 15.1 million hectares of Brazil's Amazon — burned. Bolivia had a record number of fires in the first ten months of the year. “Forest fires have become a constant, especially in the summer months and require particular attention from the authorities who don't how to deal with or respond to them,” Ipenza said. Venezuela, Colombia, Ecuador, and Guyana also saw a surge in fires this year. Indigenous voices and rights made headway in 2024 The United Nations conference on biodiversity — this year known as COP16 — was hosted by Colombia. The meetings put the Amazon in the spotlight and a historic agreement was made to give Indigenous groups more of a voice on nature conservation decisions, a development that builds on a growing movement to recognise Indigenous people's role in protecting land and combating climate change. Both Ebus and Miller saw promise in the appointment of Martin von Hildebrand as the new secretary general for the Amazon Treaty Cooperation Organisation, announced during COP16. “As an expert on Amazon communities, he will need to align governments for joint conservation efforts. If the political will is there, international backers will step forward to finance new strategies to protect the world's largest tropical rainforest,” Ebus said. Ebus said Amazon countries need to cooperate more, whether in law enforcement, deploying joint emergency teams to combat forest fires, or providing health care in remote Amazon borderlands. But they need help from the wider world, he said. “The well-being of the Amazon is a shared global responsibility, as consumer demand worldwide fuels the trade in commodities that finance violence and environmental destruction,” he said. Next year marks a critical moment for the Amazon, as Belém do Pará in northern Brazil hosts the first United Nations COP in the region that will focus on climate. “Leaders from Amazon countries have a chance to showcase strategies and demand tangible support," Ebus said. (AP) (This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)Paramount’s three-headed leadership structure will reportedly get shelved once the $8 billion merger with Skydance Media goes through — with two of the co-CEOs likely getting pushed out. David Ellison , the current Skydance boss who will run the combined company as chairman and CEO, is planning a massive shakeup that could involve combining all of Paramount’s television assets , including CBS and MTV, into one unit, according to Bloomberg News. Currently, the television properties are jointly run by co-CEOs Chris McCarthy and George Cheeks. Cheeks, who is said to have a good relationship with Ellison’s deputy Jeff Shell, is expected to stay at the company, but McCarthy’s future is up in the air, Bloomberg reported. Brian Robbins, the honcho in charge of Paramount Pictures and Nickelodeon, is the third member of the troika. He is expected to depart the new company around the time the merger is consummated — which can happen as early as March — though people familiar with the matter told Bloomberg that no final decision on Robbins has been made. Ellison — the son of billionaire Oracle co-founder Larry Ellison — has collaborated extensively with Robbins in recent years. However, Ellison is said to be considering installing Dana Goldberg, Skydance’s head of production, as head of Paramount’s film studio, according to Bloomberg News. The Post has sought comment from Paramount Global and Skydance. Skydance helped finance most of Paramount’s blockbuster films over the last decade, including “Top Gun: Maverick” and the latest “Mission: Impossible” films. In preparation for the close of the merger, Ellison and his top lieutenants have been meeting Paramount personnel to get an idea of how the company has been operating, according to Bloomberg. In September, the debt-saddled media giant kicked off a second round of layoffs in its previously announced plans to cut 2,000 jobs. Employees were told by Ellison that no decision has been made about any additional layoffs once the merger is finalized, Bloomberg News reported. The consolidation of the television assets is a necessity for Ellison given the fact that viewers are abandoning linear broadcasting in droves. Paramount’s film studio is also not expected to turn a profit this year, according to analysts. McCarthy, Cheeks and Robbins have been running Paramount since April 29 following the ouster of CEO, Bob Bakish . The executive’s relationship with Shari Redstone, the controlling shareholder of Paramount Global parent company National Amusements, reportedly soured after Bakish opposed the Skydance merger. Redstone holds a 20% stake in NAI through two trusts in her name and is in line to receive about $350 million from its sale , according to Bloomberg. Aside from buying up the Redstone family’s entire 77% NAI stake for $2.4 billion, Skydance will pay $15 a share for as much as $4.3 billion of the common shares. Paramount stock closed at $10.92 on Tuesday. With Post Wires
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