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Penguin Solutions

SMART Global Holdings Inc is a designer and manufacturer of electronic products focused on memory and computing technology areas. It specializes in application-specific product development and support for customers in the enterprise, government and original equipment manufacturer (OEM) markets. It operates in three segments such as Memory Solutions in which Memory Solutions group, under our SMART Modular brand, provides high performance and reliable memory solutions through the design, development and advanced packaging of leading-edge to extended lifecycle products. Intelligent Platform Solutions in their IPS group, under our Penguin Solutions and newly acquired Stratus Technologies brands, offers specialized platform solutions and services for high-performance computing.

Penguin Solutions, Inc. - Ordinary Shares

Penguin Solutions Inc

Pengram Corp

The expansion would position Montana Renewables as one of the largest Sustainable Aviation Fuel producers globally with production capacity of approximately 300 million gallons of SAF and 330 million gallons of combined SAF and renewable diesel.

News

CLMT

Calumet Subsidiary  Montana Renewables Secures $1.44B Conditional Commitment From DOE For Renewable Fuels And Biomass Energy Facility

Discover Financial Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>) reported its third-quarter financial results after Wednesday's closing bell. Here's a look at the<a href="https://www.benzinga.com/pressreleases/24/10/b41368299/discover-financial-services-reports-third-quarter-2024-net-income-of-965-million-or-3-69-per-dilut"> details from the report.&nbsp;</a>
The Details: Discover reported quarterly earnings of $3.69 per share, which beat the analyst consensus estimate of $3.44. Quarterly revenue came in at $4.453 billion, which beat the analyst consensus estimate of $4.346 billion and is a 10.11% increase over sales of $4.044 billion from the same period last year.
The company reported third-quarter 30 or more days delinquency rates of 3.84%, up from 3.41% from the same quarter last year and 90 or more days delinquency rates of 1.87%, up from 1.57%. 
Read Next:&nbsp; <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41340022/amazon-analyst-expects-q3-earnings-with-revenue-growth-margin-expansion-relative-st">Amazon Analyst Expects Q3 Earnings With Revenue Growth, Margin Expansion, Relative Stable E-Commerce Demand</a>
<ul>
<li>Digital Banking pretax income of $1.2 billion for the quarter was $401 million higher than the prior year period, reflecting increased revenue net of interest expense and a lower provision for credit losses partially offset by increased operating expenses.</li>
<li>Total loans ended the quarter at $127.0 billion, up 4% year-over-year and down 1% sequentially. Credit card loans ended the quarter at $100.5 billion, up 3% year-over-year. Personal loans increased $879 million, or 9%. Private student loans were down 19% driven by the first closing of the private student loan portfolio sale.</li>
<li>Net interest income for the quarter increased $333 million, or 10% year-over-year, driven by higher average receivables and net interest margin expansion. </li>
<li>Net interest margin was 11.38%, up 43 basis points versus the prior year. </li>
<li>Card yield was 16.23%, up 80 basis points from the prior year primarily driven by a lower promotional balance mix and lower payment rates, partially offset by higher interest charge-offs. </li>
<li>Payment Services pretax income of $84 million was largely flat year-over-year. Payment Services volume was $100.5 billion, up 9% from the prior year period. </li>
<li>Discover Network volume was down 4% reflecting a slowdown in Discover card sales volume. </li>
<li>PULSE dollar volume was up 14% driven by increased debit transaction volume. </li>
<li>Diners Club volume was up 7% year-over-year reflecting strength across most regions.</li>
</ul>
&#8220;Discover&#8217;s financial performance remained strong in the third quarter, benefiting from increased net interest margin, modest loan growth, and some credit improvement,&#8221; said Michael Shepherd, Discover&#8217;s Interim CEO and President. &#8220;We are pleased to have completed the first of four student loan sale closings, which will simplify our business. Additionally, we continued to make good progress on our risk management and compliance capabilities.&#8221;
DFS Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Discover Financial shares are down 0.64% after-hours at $146.58 at the time of publication Wednesday.
Read Also:&nbsp;
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<li><a href="https://www.benzinga.com/news/24/10/41321567/teslas-optimus-robots-were-remotely-assisted-by-humans-at-we-robot-event">Tesla&#8217;s Optimus Robots Were Remotely Assisted By Humans At &#8216;We, Robot&#8217; Event</a></li>
</ul>
Photo: Shutterstock

Earnings

After-Hours Center

Movers

Discover Reports Better-Than-Expected Q3 Results, Higher Delinquency Rates YOY: Details

Liberty Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LBRT#NYSE">LBRT</a>) reported quarterly earnings of $0.45 per share which missed the analyst consensus estimate of $0.58 by 22.41 percent. This is a 47.06 percent decrease over earnings of $0.85 per share from the same period last year. The company reported quarterly sales of $1.14 billion which missed the analyst consensus estimate of $1.15 billion by 0.96 percent. This is a 6.33 percent decrease over sales of $1.22 billion the same period last year.

Earnings Misses

LBRT

Liberty Energy Q3 Adj $0.45 Misses $0.58 Estimate, Sales $1.14B Miss $1.15B Estimate

Guidance

First Industrial Realty Sees FY24 FFO $2.61-$2.65 Vs. $2.62 Estimate

Financial giants have made a conspicuous bearish move on GE Aero. Our analysis of options history for GE Aero (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) revealed 24 unusual trades.
Delving into the details, we found 33% of traders were bullish, while 58% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $214,808, and 19 were calls, valued at $1,154,257.
<h3>Expected Price Movements</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $155.0 to $230.0 for GE Aero over the recent three months. 
<h3>Volume &amp; Open Interest Development</h3>
In terms of liquidity and interest, the mean open interest for GE Aero options trades today is 2505.5 with a total volume of 5,246.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for GE Aero's big money trades within a strike price range of $155.0 to $230.0 over the last 30 days.
<h3>GE Aero Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729111531_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>GE</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$21.9</td>
<td>$21.85</td>
<td>$21.85</td>
<td>$190.00</td>
<td>$188.2K</td>
<td style="text-align: right;">217</td>
<td style="text-align: right;">409</td>
</tr>
<tr>
<td>GE</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$22.05</td>
<td>$21.9</td>
<td>$21.94</td>
<td>$190.00</td>
<td>$120.8K</td>
<td style="text-align: right;">217</td>
<td style="text-align: right;">56</td>
</tr>
<tr>
<td>GE</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$22.0</td>
<td>$21.95</td>
<td>$21.93</td>
<td>$190.00</td>
<td>$118.5K</td>
<td style="text-align: right;">217</td>
<td style="text-align: right;">94</td>
</tr>
<tr>
<td>GE</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$22.0</td>
<td>$21.95</td>
<td>$21.93</td>
<td>$190.00</td>
<td>$83.3K</td>
<td style="text-align: right;">217</td>
<td style="text-align: right;">207</td>
</tr>
<tr>
<td>GE</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$22.0</td>
<td>$21.95</td>
<td>$21.95</td>
<td>$190.00</td>
<td>$74.6K</td>
<td style="text-align: right;">217</td>
<td style="text-align: right;">145</td>
</tr>
</tbody>
</table>

<h3>About GE Aero</h3>
GE Aerospace is the global leader in designing, manufacturing, and servicing large aircraft engines, along with partner Safran in their CFM joint venture. With its massive global installed base of nearly 70,000 commercial and military engines, GE Aerospace earns most of its profits on recurring service revenue of that equipment, which operates for decades. GE Aerospace is the remaining core business of the company formed in 1892 with historical ties to American inventor Thomas Edison; that company became a storied conglomerate with peak revenue of $130 billion in 2000. GE spun off its appliance, finance, healthcare, and wind and power businesses between 2016 and 2024.
After a thorough review of the options trading surrounding GE Aero, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Where Is GE Aero Standing Right Now?</h3>
<ul>
<li>Trading volume stands at 2,902,187, with GE's price up by 0.87%, positioned at $192.22.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 6 days.</li>
</ul>
<h3>Professional Analyst Ratings for GE Aero</h3>
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $222.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Deutsche Bank persists with their Buy rating on GE Aero, maintaining a target price of $235. 
&#x2A; Maintaining their stance, an analyst from Bernstein continues to hold a Outperform rating for GE Aero, targeting a price of $225. 
&#x2A; An analyst from Deutsche Bank persists with their Buy rating on GE Aero, maintaining a target price of $212. 
&#x2A; An analyst from Citigroup has decided to maintain their Buy rating on GE Aero, which currently sits at a price target of $216. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest GE Aero options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

Markets

Looking At GE Aero's Recent Unusual Options Activity

High-rolling investors have positioned themselves bullish on Sirius XM Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIRI#NASDAQ">SIRI</a>), and it's important for retail traders to take note. 
\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in SIRI often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 14 options trades for Sirius XM Holdings. This is not a typical pattern.
The sentiment among these major traders is split, with 57% bullish and 21% bearish. Among all the options we identified, there was one put, amounting to $30,000, and 13 calls, totaling $552,046.
<h3>Expected Price Movements</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $23.0 to $35.0 for Sirius XM Holdings during the past quarter. 
<h3>Volume &amp; Open Interest Trends</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Sirius XM Holdings's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Sirius XM Holdings's whale trades within a strike price range from $23.0 to $35.0 in the last 30 days. 
<h3>Sirius XM Holdings Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729111526_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SIRI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>11/08/24</td>
<td>$2.53</td>
<td>$2.23</td>
<td>$2.62</td>
<td>$26.00</td>
<td>$52.2K</td>
<td style="text-align: right;">18</td>
<td>1.6K</td>
</tr>
<tr>
<td>SIRI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/08/24</td>
<td>$2.6</td>
<td>$2.15</td>
<td>$2.61</td>
<td>$26.00</td>
<td>$52.2K</td>
<td style="text-align: right;">18</td>
<td>1.0K</td>
</tr>
<tr>
<td>SIRI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/08/24</td>
<td>$2.56</td>
<td>$2.19</td>
<td>$2.49</td>
<td>$26.00</td>
<td>$51.1K</td>
<td style="text-align: right;">18</td>
<td>1.2K</td>
</tr>
<tr>
<td>SIRI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/08/24</td>
<td>$2.55</td>
<td>$2.2</td>
<td>$2.55</td>
<td>$26.00</td>
<td>$51.0K</td>
<td style="text-align: right;">18</td>
<td>1.4K</td>
</tr>
<tr>
<td>SIRI</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/08/24</td>
<td>$2.52</td>
<td>$2.03</td>
<td>$2.52</td>
<td>$26.00</td>
<td>$50.4K</td>
<td style="text-align: right;">18</td>
<td>600</td>
</tr>
</tbody>
</table>

<h3>About Sirius XM Holdings</h3>
Sirius XM Holdings is composed of two businesses: SiriusXM and Pandora. SiriusXM transmits music, talk shows, sports, and news via its two satellite radio networks, primarily to consumers in vehicles who pay a subscription fee. The firm's radios come preinstalled on a wide range of light vehicles in the US and Canada. The firm acquired Pandora Media in February 2019 via an all-stock transaction. Pandora is a streaming music platform that offers an ad-supported radio option and a paid on-demand service; it has a robust and growing podcast library. Liberty Media owns 84% of Sirius XM, traded through its Liberty Sirius XM Group tracking stock.
<h3>Current Position of Sirius XM Holdings</h3>
<ul>
<li>Trading volume stands at 7,164,456, with SIRI's price up by 0.59%, positioned at $27.24.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 15 days.</li>
</ul>
<h3>Expert Opinions on Sirius XM Holdings</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $28.6.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Reflecting concerns, an analyst from Morgan Stanley lowers its rating to Underweight with a new price target of $23. 
&#x2A; An analyst from Benchmark has revised its rating downward to Buy, adjusting the price target to $43. 
&#x2A; Consistent in their evaluation, an analyst from Citigroup keeps a Sell rating on Sirius XM Holdings with a target price of $21. 
&#x2A; Consistent in their evaluation, an analyst from Goldman Sachs keeps a Neutral rating on Sirius XM Holdings with a target price of $26. 
&#x2A; An analyst from Guggenheim upgraded its action to Buy with a price target of $30. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Sirius XM Holdings with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

SIRI

Unpacking the Latest Options Trading Trends in Sirius XM Holdings

Financial giants have made a conspicuous bearish move on Nike. Our analysis of options history for Nike (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) revealed 15 unusual trades.
Delving into the details, we found 40% of traders were bullish, while 53% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $214,405, and 10 were calls, valued at $411,514.
<h3>Projected Price Targets</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $75.0 and $145.0 for Nike, spanning the last three months.
<h3>Volume &amp; Open Interest Trends</h3>
In today's trading context, the average open interest for options of Nike stands at 3764.55, with a total volume reaching 8,798.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Nike, situated within the strike price corridor from $75.0 to $145.0, throughout the last 30 days.
<h3>Nike Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729111520_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NKE</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$6.85</td>
<td>$6.8</td>
<td>$6.85</td>
<td>$82.50</td>
<td>$62.3K</td>
<td>2.7K</td>
<td style="text-align: right;">91</td>
</tr>
<tr>
<td>NKE</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$5.55</td>
<td>$5.45</td>
<td>$5.5</td>
<td>$90.00</td>
<td>$57.2K</td>
<td>3.3K</td>
<td style="text-align: right;">241</td>
</tr>
<tr>
<td>NKE</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$12.3</td>
<td>$12.15</td>
<td>$12.15</td>
<td>$82.50</td>
<td>$51.0K</td>
<td>611</td>
<td style="text-align: right;">84</td>
</tr>
<tr>
<td>NKE</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$12.3</td>
<td>$12.15</td>
<td>$12.15</td>
<td>$82.50</td>
<td>$49.8K</td>
<td>611</td>
<td style="text-align: right;">42</td>
</tr>
<tr>
<td>NKE</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$1.13</td>
<td>$1.11</td>
<td>$1.11</td>
<td>$75.00</td>
<td>$49.0K</td>
<td>13.1K</td>
<td style="text-align: right;">96</td>
</tr>
</tbody>
</table>

<h3>About Nike</h3>
Nike is the largest athletic footwear and apparel brand in the world. Key categories include basketball, running, and football (soccer). Footwear generates about two thirds of its sales. Its brands include Nike, Jordan (premium athletic footwear and clothing), and Converse (casual footwear). Nike sells products worldwide through company-owned stores, franchised stores, and third-party retailers. The firm also operates e-commerce platforms in more than 40 countries. Nearly all its production is outsourced to contract manufacturers in more than 30 countries. Nike was founded in 1964 and is based in Beaverton, Oregon.
Following our analysis of the options activities associated with Nike, we pivot to a closer look at the company's own performance.
<h3>Present Market Standing of Nike</h3>
<ul>
<li>Currently trading with a volume of 10,643,928, the NKE's price is up by 2.14%, now at $83.88. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 64 days.</li>
</ul>
<h3>What The Experts Say On Nike</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $94.8.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Truist Securities downgraded its action to Hold with a price target of $85. 
&#x2A; In a cautious move, an analyst from Piper Sandler downgraded its rating to Neutral, setting a price target of $80. 
&#x2A; An analyst from B of A Securities has decided to maintain their Buy rating on Nike, which currently sits at a price target of $100. 
&#x2A; Consistent in their evaluation, an analyst from Telsey Advisory Group keeps a Outperform rating on Nike with a target price of $100. 
&#x2A; Consistent in their evaluation, an analyst from Bernstein keeps a Outperform rating on Nike with a target price of $109. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Nike with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Unpacking the Latest Options Trading Trends in Nike

First Industrial Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FR#NYSE">FR</a>) reported quarterly earnings of $0.68 per share which beat the analyst consensus estimate of $0.66 by 3.03 percent.

Earnings Beats

First Industrial Realty Q3 2024 FFO $0.68 Beats $0.66 Estimate

Macro Economic Events

Commodities

Econ #s

Economics

API Weekly Crude Oil Stock: 1.58M Barrel Draw vs 3.2M Barrel Build Est.

First Industrial Realty Sees FY24 Adj. EPS $2.09-$2.13 Vs. $1.64 Estimate

As <a href="https://www.benzinga.com/topic/florida-cannabis">Florida</a> gears up for a monumental vote in November 2024, Amendment 3, which would legalize recreational cannabis use, is <a href="https://www.benzinga.com/markets/cannabis/24/10/41320395/florida-cannabis-legalization-gains-support-from-former-congressman-citing-economic-growth-publi">gaining significant</a> support from key voices.
One who has just joined the chorus is Gordon Smith, the Sheriff of Bradford County, a region in North Central Florida with a population of over 28,000 people.
&#8220;I&#8217;m A conservative with strong faith and family values,&#8221; writes Smith in an opinion <a href="https://thecapitolist.com/sheriff-yes-on-amendment-3-to-protect-lives-and-strengthen-communities/">piece </a> published by The Capitolist, &#8220;Those values are at the heart of my position on Amendment 3.&#8221;
<h3 class="wp-block-heading">Impact Of Low-Level Cannabis Charges</h3>
With nearly 40 years of experience in law enforcement, Sheriff Smith says that legalizing marijuana for recreational use will protect lives, reduce crime and strengthen communities.
"I've seen countless lives derailed by simple possession charges," says Smith. These charges often result in criminal records that hinder individuals&#8217; ability to secure jobs, housing, or educational opportunities.
Smith argues that continuing to criminalize cannabis use is not only unjust but counterproductive to the state&#8217;s goal of being a &#8220;Free State&#8221; where everyone has the opportunity to thrive. His point is that arresting individuals for minor cannabis offenses creates a cycle of punishment that disproportionately affects communities.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41365515/ron-desantis-pregnant-pigs-and-floridas-cannabis-legalization-battle-over-constitutional-amendme"> Ron DeSantis, Pregnant Pigs And Florida&#8217;s Cannabis Legalization: Battle Over Constitutional Amendment Rages</a>
<h3 class="wp-block-heading">Personal Connection To Cannabis Benefits</h3>
As a brother to a military veteran, Smith&#8217;s backing of Amendment 3 is also rooted in personal experience.
After participating in multiple wars, his brother found relief from medical cannabis, which altered Smith&#8217;s perception of the cannabis plant.
&#8220;His journey opened my eyes to the potential benefits of cannabis for those suffering from various medical conditions. By legalizing recreational marijuana, we can expand access to this therapeutic option for many more Floridians who may benefit from its use&#8221;, Smith says in the article.
<ul>
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Smith, who began his law enforcement career in 1986 and became Sheriff in 2008, also points to the dangers of <a href="https://www.benzinga.com/markets/cannabis/24/06/39194907/most-florida-marijuana-is-illegal-mom-cautions-against-dangers-of-unregulated-weed-in-new-cannab">unregulated cannabis</a> products, particularly those laced with dangerous substances like fentanyl. 
With other <a href="https://www.benzinga.com/markets/cannabis/24/09/40822693/gop-and-democratic-state-senators-back-floridas-cannabis-legalization-initiative-in-new-ad-as-ba">relevant figures</a>, including <a href="https://www.benzinga.com/markets/cannabis/24/08/40642418/florida-cannabis-legalization-gains-momentum-64-of-likely-voters-support-amendment">politicians </a>on both sides of the aisle advocating for Amendment 3, the vote in November could mark a significant turning point for Florida's cannabis policy, making the state one of the<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38470560/landing-in-floridas-cannabis-market-legal-adult-use-marijuana-could-yield-874m-in-2"> largest cannabis</a> markets in the U.S.​
Now Read:
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<li><a href="https://www.benzinga.com/markets/cannabis/24/09/40822693/gop-and-democratic-state-senators-back-floridas-cannabis-legalization-initiative-in-new-ad-as-ba">Florida Cannabis Legalization Gains Support From Former Congressman, Citing Economic Growth, Public Health</a></li>
</ul>
Cover: Photo from Bradford County Sheriff&#8217;s Office Website.

Cannabis

Government

Regulations

Politics

Florida Sheriff Backs Cannabis Legalization Amendment: 'I'm A Conservative With Strong Faith And Family Values'

WIIM

Equifax shares are trading lower. The company reported Q3 financial results.

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Lucid Group Announces Public Offering Of 262.4M Shares Of Common Stock With Additional Investment Of 374.7M Shares By Affiliate Of PIF In Private Placement, Aiming To Maintain 58.8% Ownership

Alcoa shares are trading higher after the company reported better-than-expected Q3 adjusted EPS results.

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American Lithium Q2 EPS $(0.03) vs $(0.05) YoY

Rep. John Moolenaar (R-MI) and Rep. Raja Krishnamoorthi (D-IL) have called on the U.S. Department of Commerce to crack down on Huawei Technologies over its alleged efforts to sidestep U.S. sanctions through a hidden <a href="https://www.benzinga.com/topic/semiconductors">network of semiconductor facilities. </a>
What Happened: In a recent <a href="https://selectcommitteeontheccp.house.gov/media/press-releases/moolenaar-krishnamoorthi-urge-action-against-huaweis-clandestine-chip-network">letter </a>to Commerce Secretary Gina Raimondo, the lawmakers emphasized the need to limit the flow of U.S. semiconductor manufacturing equipment (SME) to Huawei.
The letter warns that Huawei is leveraging companies like Pengxinxu, SwaySure Technology, and Qingdao SiEn, among others, to bypass existing restrictions on its chip-making capabilities. Although PXW Semiconductor, a related entity, was previously added to the Commerce Department's Entity List, the lawmakers suggest similar action may be needed for its sister companies due to their ties to Huawei.
The appeal to tighten export controls comes as Huawei continues to build out its semiconductor production capacity, allegedly using firms not currently blacklisted by the U.S. 
The letter highlights the influence of the Shenzhen government-backed Shenzhen Major Industrial Investment Group Co., Ltd., which reportedly oversees both PXW and its affiliates, like SwaySure. The lawmakers believe adding these companies to the Entity List would limit Huawei's access to U.S. technology.
Also Read: <a href="https://www.benzinga.com/general/entertainment/24/10/41365830/netflix-stock-stumbles-but-q3-earnings-could-flip-the-script-for-investors">Netflix Stock Stumbles, But Q3 Earnings Could Flip The Script For Investors</a>
Why It Matters: The pressure on Huawei coincides with reports that ByteDance, the parent company of TikTok, may use Huawei's Ascend 910B chips for a new AI model. The company turned to domestic chips amid U.S. export restrictions, shifting away from reliance on advanced AI chips from Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>). ByteDance has reportedly been ramping up its efforts to develop AI processors in response <a href="https://www.benzinga.com/news/24/09/41085643/tiktok-parent-bytedance-to-reportedly-use-huawei-chips-to-train-ai-model">to these limitations.</a>
On Tuesday, ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) projected that China&#8217;s contribution to its revenue would normalize at 20% next year, down significantly from 49% in the June quarter, reflecting shifting dynamics in the semiconductor market. An <a href="https://www.benzinga.com/news/24/10/41352550/asml">accidental early earnings release</a> revealed the company&#8217;s lowered sales forecast for 2025. This announcement also led to a broader sell-off in semiconductor stocks, although peers like Nvidia Corp., Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), and others managed slight rebounds. 
ASML&#8217;s CEO noted cautious customer sentiment amid a challenging market, as the sector faces further pressure from potential U.S. restrictions on AI chip sales.
What&#8217;s Next: Tightening restrictions on Huawei's chip-making capabilities would align with broader U.S. efforts to curb China&#8217;s access to advanced technology. The lawmakers argue that this step is essential to prevent national security risks posed by Huawei's expanding semiconductor ambitions. 
The lawmakers' push for further actions marks the latest development in a broader U.S. strategy to counter China's advances in the tech sector, with implications for companies across the global semiconductor supply chain.
Read Next: 
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<li><a href="https://www.benzinga.com/news/earnings/24/10/41363734/asml-holding-stock-continues-to-slide-other-chipmakers-bounce-back-we-are-still-quite-optimistic-ab">ASML Holding Stock Continues To Slide, Other Chipmakers Bounce Back: &#8216;We Are Still Quite Optimistic About AI&#8217;</a></li>
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Photo: Shutterstock

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US Lawmakers Demand Tougher Action On Huawei's Secretive Chip Network

Kinder Morgan shares are trading lower after the company reported worse-than-expected Q3 financial results and said it expects FY24 Adj. EBITDA and Adj. EPS to be below budget.

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Kinder Morgan Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) reported third-quarter financial results after the market close on Wednesday. Here&#8217;s a look at the <a href="https://www.benzinga.com/pressreleases/24/10/b41367646/kinder-morgan-reports-third-quarter-2024-financial-results">key details from the quarter</a>.
Q3 Earnings: Kinder Morgan reported third-quarter revenue of $3.699 billion, missing the&nbsp;<a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">consensus estimate</a>&nbsp;of $3.975 billion, according to&nbsp;<a href="https://benzinga.grsm.io/gxjhpowx7zks" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>. The company reported quarterly earnings of 25 cents per share, missing analyst estimates of 27 cents per share.
Distributable cash flow came in at 49 cents per share after the company generated $1.2 billion in cash from operations and approximately $600 million in free cash flow during the quarter.
The company&#8217;s board approved a dividend of $0.2875&nbsp;per share for the&nbsp;third quarter, payable on Nov. 15 to shareholders of record as of Oct. 31.
&#8220;The company had a solid&nbsp;third quarter&nbsp;on increased financial contributions from our Natural Gas Pipelines and Terminals business segments, with Adjusted EBITDA up&nbsp;2%&nbsp;versus the&nbsp;third quarter&nbsp;of 2023. Further, KMI&#8217;s balance sheet remains very strong, as we ended the quarter with a Net Debt-to-Adjusted EBITDA ratio of 4.1 times,&#8221; said Kim Dang, CEO of Kinder Morgan.
&#8220;Discussions around opportunities related to significant new natural gas demand for electric generation associated with coal conversions at power plants, artificial intelligence operations, cryptocurrency mining, data centers and industrial re-shoring also continued during the quarter, and we now see an opportunity set well in excess of 5 Bcf/d in that area.&#8221;
Don&#8217;t Miss: <a href="https://www.benzinga.com/news/earnings/24/10/41364779/tech-stocks-stall-small-caps-surge-as-regional-banks-rally-airlines-rocket-whats-driving-markets-we">Tech Stocks Stall, Small Caps Surge As Regional Banks Rally, Airlines Rocket: What&#8217;s Driving Markets Wednesday?</a>
Outlook: Kinder Morgan had been anticipating full-year 2024 distributable cash flow of $5 and adjusted EBITDA of $8.16 billion, both up 8% year-over-year. The company also previously expected to end the year with a Net Debt-to-Adjusted EBITDA ratio of 3.9 times.
&#8220;Due to lower than budgeted commodity prices and start-up delays on our RNG facilities, partially offset by higher contributions from natural gas transmission and storage, we now expect to be below budget on Adjusted EBITDA by approximately&nbsp;2%&nbsp;and on Adjusted EPS by approximately&nbsp;4%, although we expect Adjusted EBITDA to be up&nbsp;5%&nbsp;and Adjusted EPS to be up&nbsp;9%&nbsp;for the full year versus 2023. We expect to end the year with a Net Debt-to-Adjusted EBITDA ratio of 4.0 times,&#8221; Dang said.
Management will hold a conference call to discuss these results at 4:30 p.m. ET.
KMI Price Action: <a href="http://benzinga.com/quote/kmi">Kinder Morgan shares</a> were up approximately 41% year-to-date heading into the print. The stock was down 3.81% after hours at $23.98 at the time of publication Wednesday, according to <a href="https://benzinga.grsm.io/gxjhpowx7zks" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/10/41364779/tech-stocks-stall-small-caps-surge-as-regional-banks-rally-airlines-rocket-whats-driving-markets-we"> • Tech Stocks Stall, Small Caps Surge As Regional Banks Rally, Airlines Rocket: What&#8217;s Driving Markets Wednesday?</a>
Photo: Shutterstock.

Kinder Morgan Q3 Earnings: Revenue Miss, EPS Miss, Guidance Lower, Shares Slide

Here's the major earnings after the close today

SMART Global Non-GAAP EPS of $0.37 misses by $0.03, revenue of $311M misses by $14M

Penguin Solutions, Inc. (PENG) Q4 2024 Earnings Call Transcript

Penguin Solutions: A Name Change Won't Help

FULT

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PENG

Press Releases

SGH Becomes Penguin Solutions

Penguin Solutions Reports Fourth Quarter and Full Year Fiscal 2024 Financial Results

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Penguin Solutions shares are trading lower. The company reported Q4 financial results. Also, Needham maintained a Buy rating on the stock but lowered its price target from $35 to $25.

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