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Chanson International Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHSN#NASDAQ">CHSN</a>) (the "Company" or "Chanson"), a provider of bakery, seasonal, and beverage products through its chain stores in China and the United States, today announces a collaboration with a leading hotel and restaurant management enterprise in Yili, Xinjiang, China, Xinjiang Hengtai Investment Co., Ltd. ("Xinjiang Hengtai") to expand its coffee brand, Soul ● Song, through a franchise operation model in Yili. This milestone marks significant progress in the development of Chanson's Soul ● Song brand, further deepening its market presence and extending its brand influence in the Xinjiang region.
In July 2024, the Company celebrated the grand opening of a Soul ● Song café in partnership with Xinjiang Hengtai at the scenic Nalati National Tourist Resort in Yili, Xinjiang, China. Soul ● Song's innovative "blend bean concept" highlights the art of blending, offering diverse flavors to suit every customer's unique taste. The café quickly became a must-visit destination within the resort, breaking the Company's single-day coffee-related sales record by achieving daily sales of RMB 30,000 on both August 8 and August 15, 2024. This marks Chanson's first attempt in adopting a franchise model, partnering with a distinguished local enterprise for mutual growth and success. Building on its growing influence in the Yili region, the Company plans to open five additional Soul ● Song cafés under the franchise model by 2025.

News

CHSN

Chanson International Holding Announces A Collaboration With Xinjiang Hengtai Investment Co., Ltd. To Expand Its Coffee Brand, Soul Song, Through A Franchise Operation Model In Yili

Highlights How Positive Data in AIM's Clinical Pipeline and Big Pharma Partnerships are Positioning the Company for Commercialization Opportunities in High-Value Indications Including Pancreatic Cancer
Warns Shareholders of Its Belief that the Activist Group and Its Nominees Have a Self-Interested Agenda and Could Put AIM's Clinical Progress at Risk
Urges Shareholders to Safeguard AIM by Voting "FOR" ALL Four of the Board's Incumbent Candidates and Discarding Any Proxy Materials from the Activist Group
Shareholders Can View and Download the Presentation <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Faimimmunotech.s3.us-west-1.amazonaws.com%2FAIM%2BInvestor%2BPresentation%2B%28November%2B2024%29.pdf&amp;esheet=54157417&amp;newsitemid=20241125176144&amp;lan=en-US&amp;anchor=Here&amp;index=1&amp;md5=aebd9987f2d8525d889b11917beb3e81">Here</a>
AIM ImmunoTech Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIM#NYSE">AIM</a>) ("AIM" or the "Company") today issued a <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Faimimmunotech.s3.us-west-1.amazonaws.com%2FAIM%2BInvestor%2BPresentation%2B%28November%2B2024%29.pdf&amp;esheet=54157417&amp;newsitemid=20241125176144&amp;lan=en-US&amp;anchor=presentation&amp;index=2&amp;md5=f3ad08194b4528269f1b5432d10f7266">presentation</a> in connection with its upcoming 2024 Annual Meeting of Stockholders the ("Annual Meeting"), presently scheduled for December 17, 2024.
Highlights of the presentation include the following:
<ul>
<li>AIM is executing on its strategy to create long-term value for patients and shareholders by driving clinical development programs in areas with critical unmet needs, especially in the high-value pancreatic cancer space.</li>
<li>AIM's clinical pipeline has significant momentum and is laying the groundwork for commercialization opportunities by delivering exciting data across clinical trials, including in two ongoing studies with AstraZeneca and Merck. These commercialization opportunities are what can drive substantial value creation.</li>
<li>If elected, the Activist Group intends to seek over $5 million from AIM to pay for its previous takeover attempts and litigation against the Company that the Activist Group lost, in addition to any expenses incurred in connection with its solicitation for this year's Annual Meeting. The Activist Group disclosed that it does notintend to put this personal reimbursement to a shareholder vote.</li>
<li>Despite AIM's best attempts at a constructive settlement that would put two of the Activist Group's nominees on the Board, the Activist Group has continued to insist it receive upwards of $8 million to make all litigants whole in connection with certain litigation as part of any resolution – this represents more than 50% of AIM's current market capitalization.</li>
<li>The Activist Group has indicated it would likely appoint Robert Chioini as interim CEO while the Board runs a succession process should its nominees gain control of the Board. Mr. Chioini was fired as CEO of Rockwell Medical in 2018 because of his "sustained mismanagement" of the company and "blatant disregard for shareholder concerns," according to a Rockwell Medical spokesperson.1 Following his termination, Mr. Chioini "refuse[d] to accept the decision" and, without authorization, filed a Current Report on Form 8-K on the company's behalf "making various assertions regarding the five independent directors who voted in favor of Mr. Chioini's removal."2This behavior indicates, in our view, that Mr. Chioini is unfit to serve as a public company director – let alone CEO.</li>
</ul>

Management

AIM ImmunoTech Issues Presentation Detailing Case For Re-Electing Current Directors To Oversee Continued Momentum And Drive Strategy To Create Long-Term Value For Patients And Shareholders; Warns Shareholders Of Its Belief That The Activist Group And Its Nominees Have A Self-Interested Agenda And Could Put AIM's Clinical Progress At Risk

Contracts

VUZI

Vuzix Announces Six-Figure Production Order For Customized Waveguides From A Defense Customer

Evercore ISI Group analyst David Motemaden reinstates Marsh &amp; McLennan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMC#NYSE">MMC</a>) with a Outperform and announces $242 price target.

Price Target

Initiation

Analyst Ratings

Evercore ISI Group Reinstates Outperform on Marsh & McLennan, Announces $242 Price Target

Diana Shipping (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DSX#NYSE">DSX</a>) reported quarterly sales of $57.49 million which missed the analyst consensus estimate of $68.00 million by 15.46 percent. This is a 7.37 percent decrease over sales of $62.06 million the same period last year.

Earnings

Earnings Misses

Diana Shipping Q3 Sales $57.49M Miss $68.00M Estimate

Upexi, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPXI#NASDAQ">UPXI</a>) (the "Company" or "Upexi"), a multi-faceted Amazon and Direct-to-Consumer brand owner and innovator in aggregation, announces the Company has filed a complaint in the United States District Court for the District of Nevada to pursue the groups and individuals who orchestrated the manipulative and fraudulent activity in the shares round-up scheme related to Upexi's reverse stock split. Upexi anticipates that the court, through the discovery process, will enable the Company to determine who are the individuals owning the accounts and engaged in the manipulative trading transactions within those accounts in connection with and around the announcement and effective date of Upexi's reverse stock split. The Company and its legal team will pursue aggressively obtaining the relief that it seeks in the Complaint.
The Company previously announced the reverse stock split. Several weeks subsequent to the effective date, the financial institutions where the suspect trading took place requested 202,183 round-up shares, which represented more than a 19% dilution to our current shareholders and an increase of approximately 40 times the number of individual shareholders owning the Company's common stock immediately prior to the reverse split. The foregoing activity appears to have occurred during the three-day trading period between the announcement of the reverse split and its effective date.

UPXI

Upexi Files Litigation In Nevada As First Step In Determining Manipulation Of Fractional Share Roundups During Reverse Stock Split; Says 'Co And Its Legal Team Will Pursue Aggressively Obtaining The Relief That It Seeks In The Complaint'

SPAI

Safe Pro's Airborne Response Secures 2025 Drone Inspection Contract For Telecom Towers In South Florida, Highlighting Growing Q4 Drone Services Revenue From Hurricane Milton Recovery Efforts; Financial Terms Not Disclosed

In the current session, the stock is trading at $90.38, after a 0.21% increase. Over the past month, Gilead Sciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>) stock increased by 2.40%, and in the past year, by 21.04%. With performance like this, long-term shareholders are optimistic but others are more likely to look into the price-to-earnings ratio to see if the stock might be overvalued.

<img src="https://www.benzinga.com/files/images/story/2024/1732540506_0.png" alt="Past Year Chart" />

<h3>Gilead Sciences P/E Compared to Competitors</h3>
The P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E could indicate that shareholders do not expect the stock to perform better in the future or it could mean that the company is undervalued. 
Compared to the aggregate P/E ratio of 94.75 in the Biotechnology industry, Gilead Sciences Inc. has a higher P/E ratio of 1002.11. Shareholders might be inclined to think that Gilead Sciences Inc. might perform better than its industry group. It's also possible that the stock is overvalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1732540506_1.png" alt="Guage" />

In summary, while the price-to-earnings ratio is a valuable tool for investors to evaluate a company's market performance, it should be used with caution. A low P/E ratio can be an indication of undervaluation, but it can also suggest weak growth prospects or financial instability. Moreover, the P/E ratio is just one of many metrics that investors should consider when making investment decisions, and it should be evaluated alongside other financial ratios, industry trends, and qualitative factors. By taking a comprehensive approach to analyzing a company's financial health, investors can make well-informed decisions that are more likely to lead to successful outcomes.

Intraday Update

Markets

GILD

Price Over Earnings Overview: Gilead Sciences

Abits Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABTS#NASDAQ">ABTS</a>), a U.S.-based digital data center operator specializing in Bitcoin self-mining operations, today announced it has signed agreements with Bitmain to purchase an additional 400 units of Antminer T21 for delivery by early December. Following the return of previously announced 500 units of S19 XP, the company has strategically shifted to the more advanced T21 miners. This purchase will increase the total mining fleet at its Tennessee site to 2,375 units, comprising:
<ul>
<li>1,370 units of Antminer S19 XP Hydro (featuring hydro-cooling technology)</li>
<li>305 units of Antminer S19J Pro</li>
<li>700 units of Antminer T21</li>
</ul>
The T21 delivers a hash rate of 190 TH/s per unit with power efficiency of 19J/T. These new machines come with a one-year manufacturer warranty. The additional 400 units will boost the total hash power by approximately 76 PH/s to over 500 PH/s.

ABTS

ABITS GROUP Acquires Additional 400 Units Of Antminer T21 For Delivery By Early December; Purchase Will Increase The Total Mining Fleet At Its Tennessee Site To 2,375 Units

Fellow Sleep Number Shareholders:
Stadium Capital Management, LLC (together with certain of its affiliates, "Stadium Capital" or "we") is the largest shareholder of Sleep Number Corporation ("Sleep Number" or the "Company"), owning approximately 11.7% of the Company's outstanding shares. We hold our position because we remain convinced that there is enormous upside in the value of the Company if certain fundamental changes occur.
Our successful and nearly three-decade investment strategy is typically based on close, friendly collaboration with our concentrated portfolio of companies, anchored in deep research and a long-term investment horizon. We strongly prefer to keep engagement private and are nothing if not patient, but after a decade of diligent work on Sleep Number and over 15 meetings with the Company's management and Board of Directors (the "Board"), our frustration with current leadership, who has overseen massive shareholder value destruction, reached a tipping point last year. As a result, we were compelled to take the rare step of publicly expressing our concerns regarding Sleep Number's leadership and governance last year.1 This ultimately led to the appointment of two highly qualified new directors to the Board pursuant to a Cooperation Agreement between Stadium Capital and the Company (the "Cooperation Agreement").
On October 30, 2024, a mere four days before our one-year Cooperation Agreement expired, the Board announced several management and governance changes, including the retirement of the CEO, President and Chair of the Board, Shelly Ibach, and a gradual de-classification and shrinking of the Board. While on the surface these changes represent forward progress, it is clear to us that they are the bare minimum, insufficient and wholly inadequate given the gravity and urgency of the situation Sleep Number finds itself in today – thanks to this Board. In our view, these changes reflect the current Board's efforts to cling to the status quo and maintain control.
Now, Sleep Number's shareholders are being asked to entrust this Board to hire the Company's next CEO, which is, without any doubt, the most critical decision facing the Company over the next decade. Given that these are the same directors who have overseen massive value destruction and failed to hold Ms. Ibach accountable for far too long, shareholders cannot trust the Board as currently constructed to get this decision right, a decision that will define the future of Sleep Number.
Before deciding to make our concerns public, we worked tirelessly and in good faith to persuade the Board to collaborate privately with us to improve its flawed CEO search process. As with most of our suggestions, the Board summarily rejected our proposals. While shareholders cannot trust the current Board to hire Sleep Number's next CEO, we also believe that shareholders cannot trust this Board, which is still populated with many long-tenured directors who presided over a truly colossal destruction of shareholder value, to oversee the crucial capital allocation decisions facing the Company. A meaningfully reconstituted Board will be better positioned to identify a great CEO, create the best incentives for that CEO and instill long overdue accountability into Sleep Number's corporate culture, all of which would help unlock the tremendous value that exists within this Company. It is well past time to put an end to this relentless and extraordinary value destruction, and fix Sleep Number's leadership and governance.
We have spoken to many Sleep Number shareholders following the filing of our Schedule 13D on November 4, 2024 and the feedback we received was unanimous – more and urgent change is desperately needed. We are urging our fellow shareholders to express their views directly to the Board, whether publicly or privately, so the Board can grasp just how widespread shareholder dissatisfaction remains. For those shareholders with whom we have not already spoken, please know that our line is open and we welcome the opportunity to hear your thoughts as well.
Significant Value Destruction Underscores the Urgent Need for Shareholder-Driven Change
The immense shareholder value destruction that has occurred at Sleep Number makes blatantly obvious the need for real change at the Company. Sleep Number has been a serial underperformer, both in absolute and relative terms, over any relevant measurable period during Ms. Ibach's tenure. The table below includes total shareholder returns for various time periods compared to Sleep Number's closest peer, Tempur Sealy International, Inc. ("Tempur Sealy"). The performance disconnect between two direct competitors is staggering and indisputable.2
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="5" rowspan="1">Total Return Data (as of 11/22/2024)</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">Ibach</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">1-year</td>
<td colspan="1" rowspan="1">3-year</td>
<td colspan="1" rowspan="1">5-year</td>
<td colspan="1" rowspan="1">10-year</td>
<td colspan="1" rowspan="1">Tenure</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Sleep Number Corporation</td>
<td colspan="1" rowspan="1">23%</td>
<td colspan="1" rowspan="1">-85%</td>
<td colspan="1" rowspan="1">-74%</td>
<td colspan="1" rowspan="1">-52%</td>
<td colspan="1" rowspan="1">-52%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Tempur Sealy International, Inc.</td>
<td colspan="1" rowspan="1">40%</td>
<td colspan="1" rowspan="1">29%</td>
<td colspan="1" rowspan="1">172%</td>
<td colspan="1" rowspan="1">311%</td>
<td colspan="1" rowspan="1">430%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Relative Underperformance</td>
<td colspan="1" rowspan="1">-17%</td>
<td colspan="1" rowspan="1">-114%</td>
<td colspan="1" rowspan="1">-246%</td>
<td colspan="1" rowspan="1">-364%</td>
<td colspan="1" rowspan="1">-482%</td>
</tr>
</tbody>
</table>
</figure>
This comparison to Sleep Number's closest peer is starkly informative because Tempur Sealy went through a shareholder-driven leadership change in 2015. Consider the performance results between Tempur Sealy and Sleep Number before and after this change:3
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">Total Return Data</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">Pre-Change</td>
<td colspan="1" rowspan="1">Post-Change</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Sleep Number Corporation.</td>
<td colspan="1" rowspan="1">24%</td>
<td colspan="1" rowspan="1">-61%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Tempur Sealy International, Inc.</td>
<td colspan="1" rowspan="1">29%</td>
<td colspan="1" rowspan="1">311%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Relative Underperformance</td>
<td colspan="1" rowspan="1">-5%</td>
<td colspan="1" rowspan="1">-372%</td>
</tr>
</tbody>
</table>
</figure>
During Ms. Ibach's tenure, the Board has unequivocally failed in its two primary responsibilities: (i) ensuring the Company hires, incentivizes and holds accountable the right CEO, and (ii) allocating capital.4 It is time for real change.
We believe that corporate governance improvements and shareholder-driven reform can make a big difference.
Recent Governance Changes are Insufficient
It is clear to us (and the many shareholders we have spoken with) that the recent changes announced by the Company are insufficient. Sleep Number is on a path to de-classify the Board, separate the Chair and CEO roles and slowly shrink the Board. Normally, we would applaud these moves, as it would signal that a board has committed to better governance by making itself more independent from management and more accountable to shareholders.
In this case, however, these corporate governance "improvements" should be viewed as wholly inadequate self-preservation measures. The below provides some relevant context:
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1">What the Board Says:5</td>
<td colspan="1" rowspan="1">The Reality:</td>
</tr>
<tr>
<td colspan="1" rowspan="1">"These changes reflect the Board's ongoing commitment to progressive and effective corporate governance and accountability to shareholders."</td>
<td colspan="1" rowspan="1">
After almost a year of inaction, Sleep Number waited until two business days before the expiration of the Cooperation Agreement to announce these changes. We have suggested that the Board implement these standard, common sense governance practices for over a year, and many of these changes should have been implemented at the Company's 2024 Annual Meeting of Shareholders.
&nbsp;
The Company advised us that this year's class of directors will yet again be nominated for three-year terms, meaning that the declassification process will not actually begin until 2026.
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">"While we value the contributions of each of our talented directors, we believe that strategically reducing the size of the Board at the appropriate time will enhance our governance."</td>
<td colspan="1" rowspan="1">
The Board has not committed to an accelerated departure date for Stephen Gulis or Brenda Lauderback. The Board's claim that time is needed to transition committee chair roles is an absurd excuse. These over-tenured, under-performing directors who have served on the Board since 2005 and 2004, respectively, should never have been nominated for re-election in 2024 in the first place.
&nbsp;
Sleep Number's directors are cumulatively paid almost 50% more than those of Tempur Sealy despite the Company having 3% the market capitalization and revenue that is 40% lower. On top of this, Sleep Number's former Chairman, who departed the Board in May 2023, continued to receive director fees through the first three quarters of 2024.6
&nbsp;
In our view, this extended transition has not only been costly to shareholders, but it is also insulting to all Sleep Number employees who have suffered pay cuts and/or lost their jobs as part of urgent cost-cutting initiatives. The long-tenured directors on the Board – the people as responsible for this harm as anyone – have not been held accountable.
&nbsp;
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">"The Board has unanimously determined its intent to appoint Michael Harrison as independent Chair following the 2025 Annual Meeting."</td>
<td colspan="1" rowspan="1">The Board's choice of a new Chair is totally unacceptable and suggests that, collectively, the current directors do not understand the importance of moving on from the disastrous Ibach era. Sleep Number has several more highly qualified, shorter-tenured directors with fewer ties to the failed Ibach era who are clearly more appropriate for the role.</td>
</tr>
</tbody>
</table>
</figure>
The Current CEO Search Process is Flawed
We have spoken with a large and diverse group of market and industry participants to gather perspectives regarding Sleep Number and its CEO search. The overwhelming consensus is that, to be successful, a search process must be fully and unequivocally independent from the outgoing CEO.
In recent conversations with the Board, we learned several deeply concerning facts. First, Ms. Ibach was involved in drafting the specifications for her successor and will interview the candidates. Second, the executive search team leading the process has close ties to the Ibach era, having led past searches for directors and senior leadership roles. Finally, and perhaps most disturbingly, social media activity indicates that the executive search partner leading this search appears to have a close relationship with Ms. Ibach. Given these dynamics, it is impossible to believe this process is truly independent of Ms. Ibach.
We would note that the current process might indeed be appropriate in a situation where a successful CEO is retiring. At Sleep Number, however, the Board is replacing a CEO whose failed leadership of the Company resulted in significant underperformance and massive value destruction during her lengthy tenure. Successful succession planning in this case requires an acknowledgement of past failings and a clean break from the past. While this is completely obvious to all market participants with whom we engaged, somehow, the Board does not seem to understand this.
This Board Cannot be Trusted to Hire Sleep Number's Next CEO
How big a failure was the Ibach era? Operationally, from 2012 to 2024, Sleep Number's unit market share did not increase despite increasing the store count by almost 60%, increasing the advertising budget by more than 50% and deploying hundreds of millions of dollars into R&amp;D and technology acquisition. Margins consistently fell short of expectations. The Company began the Ibach era with over $175 million in excess cash, generated over $800 million in free cash flow and paid zero dividends during Ms. Ibach's tenure.7 Sleep Number's market capitalization is currently less than $300 million and its stock is down an astonishing 91% from its peak.8
The Chair of the Management Development and Compensation Committee (Ms. Lauderback) – the committee chartered with succession planning and thus leading the CEO search – has been on the Board for over 20 years. The incoming Board Chair (Mr. Harrison), who also sits on the search committee, has been on the Board for the entirety of, and thus enabled, Ms. Ibach's nearly 13-year tenure as CEO. One other search committee member (Deborah Kilpatrick) has been on the Board for over six years and regularly lavishes public praise on Ms. Ibach. Another director up for re-election this year (Barbara Matas) has stridently expressed her great admiration for Ms. Ibach, insisting on a call this past spring to us that Ms. Ibach "is going to be our CEO" and that shareholders had better accept that. In the face of overwhelming and completely damning evidence, the Board simply refuses to see the obvious – Sleep Number urgently needs a clean break from the failed Ibach era.
On November 12, 2024, we made a proposal to the Company that was intended to be a non-disruptive and collaborative solution to the current situation.9 We offered to support the Board at the Company's upcoming annual meeting if the Board committed to a truly independent CEO search process that excluded Ms. Ibach and either changed the search committee structure or formally involved a Stadium Capital principal in the process. The Board rejected this non-escalatory, constructive proposal on the grounds that changing the committee purportedly would disrupt the ongoing process. Given Sleep Number's poor governance and the fact that, as the Company's largest shareholder, we had expressed that the Board does not have our support absent these kinds of changes, we thought this proposal would improve the process, expand the pool of interested and qualified candidates, and potentially satisfy other shareholders who were apparently considering raising their own concerns publicly. The Board's grave miscalculation in rejecting our recent proposal confirmed for us that shareholders, the true owners of the Company, need more and substantive change, now.
THE path forward
Sleep Number should collaborate with its largest shareholder to refresh the Board and ensure the CEO search process is completely independent.
We are already aware of at least two highly qualified potential CEO candidates who were reluctant to get involved because of Sleep Number's ineffective and dysfunctional Board. That is extremely concerning to us, as it should be to all owners. We are calling on the Board to collaborate with us immediately to refresh the Board and improve the CEO search process. Time is of the essence. Our suggested path forward is as follows:
<ul>
<li>Announce the immediate retirement of Mr. Gulis and Ms. Lauderback from the Board.</li>
<li>Replace incoming Chairman Harrison and Ms. Matas with a Stadium Capital principal and another highly qualified independent director.</li>
<li>Reconstitute the CEO search committee by fully excluding Ms. Ibach from the process, shifting the composition towards shorter-tenured directors with public company CEO experience and including a Stadium Capital principal.</li>
<li>Appoint an Executive Chairman to help run the Company during Ms. Ibach's transition period. If one of the current qualified and relatively short-tenured Sleep Number directors is willing to fill this role, they would have our support. If there is no internal candidate, we can provide a ready, willing and highly capable external candidate.</li>
</ul>
It is nonsensical for shareholders and offensive to Sleep Number's employees for the Board to continue wasting shareholder money to pay advisors to "defend" the Board against an outcome that owners prefer during this critical period of cost-cutting. To reiterate, if our fellow shareholders agree with our views, we encourage you to express that to the Board in short order. If the Board listens to its business owners' views, we see a quick path to creating an excellent Board that will be capable of hiring an outstanding CEO for Sleep Number and all its stakeholders.
Should our requests and concerns continue to fall on deaf ears, we will be compelled to nominate several exceptionally qualified directors for election at Sleep Number's 2025 Annual Meeting of Shareholders. We believe that a large portion of the Company's shareholders would support our efforts. While a protracted public battle may potentially delay the CEO transition, we are confident that the eventual result of our successful campaign would be a high integrity search process, the hiring of the best possible CEO and an improved Board. With these elements in place at Sleep Number, we believe shareholders will be positioned to realize enormous upside over the next several years, and all stakeholders will benefit from a healthier culture based on accountability. We know what is possible at Sleep Number, which is why we are committed to taking the necessary actions for the Company to make good on its immense potential.
Sincerely,
The Investment Committee of Stadium Capital Management LLC

SNBR

Stadium Capital Urges Sleep Number Shareholders To Demand Board Reconstitution, Independent CEO Search, And Strategic Changes To Address Underperformance And Unlock Shareholder Value

HC Wainwright &amp; Co. analyst Raghuram Selvaraju reiterates RAPT Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RAPT#NASDAQ">RAPT</a>) with a Neutral.

Reiteration

RAPT

HC Wainwright & Co. Reiterates Neutral on RAPT Therapeutics

Announced Divestitures to Date Expected to Generate up to $3.6 Billion in Gross Proceeds
<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.newmont.com%2Fhome%2Fdefault.aspx&amp;esheet=54157286&amp;newsitemid=20241125607065&amp;lan=en-US&amp;anchor=Newmont+Corporation&amp;index=1&amp;md5=4d6511b4f06049c1cfdac20928e5c5b2">Newmont Corporation</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>, TSX:<a class="ticker" href="https://www.benzinga.com/stock/NGT#TSX">NGT</a>, ASX: NEM, PNGX: NEM))) ("Newmont" or the "Company") announced today that it has agreed to sell its Éléonore operation in Northern Quebec, Canada, to Dhilmar Ltd ("Dhilmar") for $795 million in cash consideration. The transaction is expected to close in the first quarter of 2025, subject to certain conditions being satisfied.1 Upon closing the announced transactions, Newmont will have delivered up to $3.6 billion in gross proceeds from non-core asset divestitures and investment sales.2

Asset Sales

TSX:NGT

Newmont Announces Agreement For Sale Of Éléonore In Northern Quebec, Canada, To Dhilmar Ltd For $795M In Cash

Asset Entities Inc.&nbsp;("Asset Entities" or the "Company") (NASDAQ:<a href="https://www.benzinga.com/stock/ASST#NASDAQ">ASST</a>), a provider of digital marketing and content delivery services across Discord and other social media platforms,&nbsp;and a Ternary Payment Platform company, today announced it has acquired the assets in the TikTok Shop space known as the TikTok Money Machine which includes its Discord community.
The Discord community teaches content creators how to sell products on TikTok Shop via the use of product content videos. It also connects major consumer product brands with these content creators, offering the latter the opportunity to earn sales commissions, via their TikTok accounts, on each product sale completed. Asset Entities has also secured consulting agreements with TikTokers and lead creators of the Discord, who have an aggregate of 280,000 followers on Instagram and 4,700,000 followers on TikTok.
As reported by Asset Entities on November 15th, this TikTok transaction comes on the heels of a 237% increase in gross revenues for the period ending September 30, 2024.
The Company expects that the acquisition will add approximately $300,000 a year of additional revenue to the Company and bring Asset Entities into the TikTok Shop market. Through expansion and scalability, the Company believes it can increase existing TikTok Money Machine revenues resulting from the acquisition over the next year.
Since its U.S. launch in September 2023, through the end of September 2024, TikTok Shop has amassed domestic revenue of over $4.6 billion. Currently, more than half of all US-based marketers sell on the platform.1

ASST

Asset Entities Acquires TikTok Money Machine Community Entering The New Multi-Billion TikTok Creator And Seller Market; No Financial Terms Disclosed

WIIM

NMHI

Nature's Miracle Holding shares are trading higher after the company announced it formed NM Data subsidiary to develop and acquire Bitcoin mining facilities. Also, NM Data signed an agreement to invest up to $3 million in Future Tech.

Bitcoin Holdings Update
On November&nbsp;25, 2024, the Company announced that, during the period between November&nbsp;18, 2024 and November&nbsp;24, 2024, the Company acquired approximately 55,500 bitcoins for approximately $5.4&nbsp;billion in cash, at an average price of approximately $97,862 per bitcoin, inclusive of fees and expenses. The bitcoin purchases were made using proceeds from the Convertible Notes Offering and the issuance and sale of Shares under the Sales Agreement.
As of November&nbsp;24, 2024, the Company, together with its subsidiaries, held an aggregate of approximately&nbsp;386,700 bitcoins, which were acquired at an aggregate purchase price of approximately&nbsp;$21.9&nbsp;billion and an average purchase price of approximately $56,761 per bitcoin, inclusive of fees and expenses.

MSTR

MicroStrategy Acquired 55.5K Bitcoins For $5.4B At $97,862 Each; Total Holdings Reach 386.7K Bitcoins Valued At $21.9B

Biotech

General

NRXP

NRx Pharmaceuticals Publishes Study In American Journal Of Clinical Psychopharmacology Highlighting Enhanced Depression Rating Reliability In Phase 2b/3 NRX-101 Trial, Supporting Future Registration Trials For Antidepressant Drugs

B of A Securities analyst Geoff Meacham maintains BridgeBio Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BBIO#NASDAQ">BBIO</a>) with a Buy and raises the price target from $42 to $45.

BBIO

B of A Securities Maintains Buy on BridgeBio Pharma, Raises Price Target to $45

CTXR

Citius Pharmaceuticals Announces Type C Meeting With FDA, Says FDA Provided Guidance Underscoring Pathway To Support A Future NDA Submission For Mino-Lok

<h3>Gainers</h3>
<table>
<thead>
<tr>
<th>Symbol</th>
<th>Name</th>
<th align="right">Price</th>
<th align="right">Change ($)</th>
<th align="right">Change (%)</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>)</td>
<td>SPDR Select Sector Fund - Industrial</td>
<td align="right">143.6300</td>
<td align="right">0.980</td>
<td align="right">0.68</td>
<td>1.1K</td>
</tr>
<tr>
<td>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>)</td>
<td>SPDR Select Sector Fund - Financial</td>
<td align="right">51.0100</td>
<td align="right">0.280</td>
<td align="right">0.55</td>
<td>94.0K</td>
</tr>
<tr>
<td>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>)</td>
<td>SPDR Select Sector Fund - Health Care</td>
<td align="right">144.8211</td>
<td align="right">0.661</td>
<td align="right">0.45</td>
<td>3.9K</td>
</tr>
<tr>
<td>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)</td>
<td>SPDR Select Sector Fund - Technology</td>
<td align="right">234.6500</td>
<td align="right">1.050</td>
<td align="right">0.44</td>
<td>29.9K</td>
</tr>
<tr>
<td>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>)</td>
<td>SPDR Select Sector Fund - Utilities</td>
<td align="right">81.7750</td>
<td align="right">0.325</td>
<td align="right">0.39</td>
<td>17.2K</td>
</tr>
<tr>
<td>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>)</td>
<td>Real Estate Select Sector SPDR Fund (The)</td>
<td align="right">44.2600</td>
<td align="right">0.170</td>
<td align="right">0.38</td>
<td>1.3K</td>
</tr>
<tr>
<td>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>)</td>
<td>SPDR Select Sector Fund - Energy Select Sector</td>
<td align="right">97.6367</td>
<td align="right">0.367</td>
<td align="right">0.37</td>
<td>10.5K</td>
</tr>
<tr>
<td>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>)</td>
<td>SPDR Select Sector Fund - Consumer Staples</td>
<td align="right">81.9900</td>
<td align="right">0.150</td>
<td align="right">0.18</td>
<td>6.6K</td>
</tr>
</tbody>
</table>
No loser in today's Pre-market session. 
<a href="https://pro.benzinga.com/?utm_source=insights">Pulled from Benzinga Pro data</a> the above sector movers alert assists traders in understanding macro-level trends and market variations. Traders will look for sector movers providing information on sectors that are over- or under-performing, deriving these results into investing decisions on exchange-traded funds (ETFs) or individual tickers in those sectors. 
For more information on sector movers, <a href="https://www.benzinga.com/movers">click here</a>.

Sector ETFs

Pre-Market Outlook

Movers

ETFs

XLRE

Leading And Lagging Sectors For November 25, 2024

BHVN

Biohaven shares are trading lower after the company announced its treatment arm of the RESILIENT SMA study did not statistically separate on the primary outcome at Week 48 compared to the placebo+standard of care group.

European stock beneficiaries of higher interest rates - JPM

UniCredit offers to buy smaller rival Banco BPM for over $10B

AIBRF

BBVA

BDRFF

BKIMF

BKRIF

BNCZF

BNDSF

CAIXY

CPYYF

CRZBF

CRZBY

DASTY

DUAVF

EADSF

EPOKY

IDEXY

ISNPY

KNYJF

MBGAF

PUBGY

RNSDF

RYAAY

SEPJF

SHLRF

STLA

UNCFF

UNCRY

VWAGY

WTBCF

Banco BPM

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