Últimas noticias sobre Tencent Music Enter Gr (NYSE:TME) Bolsa

Tencent Music Enter Gr

Tencent Music is the largest online music service provider in China. It was founded in 2016 with the business combination of QQ Music (founded in 2005), Kuwo Music (founded in 2005) and Kugou Music (founded in 2004) streaming platforms. Tencent is the largest shareholder of TME with over 50% shares and over 90% voting rights held. TME also provides social entertainment services, including music live audio/video broadcasts and online concert services through the three platforms mentioned above, and online karaoke through an independent platform WeSing.

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Major Chinese cities Shanghai and Shenzhen are poised to lift significant home purchase restrictions in the coming weeks, aiming to attract buyers and revitalize their <a href="https://www.benzinga.com/markets/asia/24/09/40974460/chinas-central-bank-follows-feds-dovish-move-cuts-key-short-term-rates-injects-over-10b-to-boost-eco">struggling real estate markets</a>.
What Happened: The changes will allow potential buyers to purchase homes without undergoing eligibility checks. Additionally, individuals from other regions in China will be permitted to buy properties in these cities, which were previously restricted due to concerns over excessive speculation, Reuters reported, citing four sources with knowledge of the matter.
The report revealed that both cities plan to eliminate limits on the number of homes one can purchase. This decision aligns with efforts by other Chinese cities that have abolished purchase restrictions over the past year to boost demand in the crisis-hit sector.
These developments follow broader <a href="https://www.benzinga.com/markets/asia/24/09/40974460/chinas-central-bank-follows-feds-dovish-move-cuts-key-short-term-rates-injects-over-10b-to-boost-eco">monetary stimulus and property support measures</a> announced by the central bank on Tuesday, which include liquidity injections and interest rate cuts. The goal is to restore confidence in the economy and achieve the 2024 economic growth target of approximately 5%.
China&#8217;s CSI 300 Real Estate Index saw a 7.8% rise in the morning session on Friday, further extending gains. The easing measures are part of a broader strategy to stabilize the troubled property sector, which has been in a prolonged downturn since mid-2021.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41032804/chinas-stimulus-sparks-optimism-3-large-cap-stocks-with-analyst-buy-ratings?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">China&#8217;s Stimulus Sparks Optimism: 3 Large-Cap Stocks With Analyst Buy Ratings</a>
Why It Matters: The decision by Shanghai and Shenzhen to lift home purchase restrictions comes amid a series of aggressive economic stimulus measures by the People&#8217;s Bank of China. On Monday, the PBoC cut a key short-term <a href="https://www.benzinga.com/markets/asia/24/09/40974460/chinas-central-bank-follows-feds-dovish-move-cuts-key-short-term-rates-injects-over-10b-to-boost-eco">interest rate and injected over $10 billion</a> into the financial system to boost the economy. 
Following this, Chinese stocks surged to their <a href="https://www.benzinga.com/markets/asia/24/09/40986319/chinese-stocks-defy-bidens-auto-import-ban-concerns-rally-to-4-month-highs-as-central-bank-unexpecte">highest levels in four months</a> on Monday, driven by hopes for additional stimulus. 
On Tuesday, Chinese stocks continued their upward trend as the PBoC unveiled <a href="https://www.benzinga.com/markets/asia/24/09/41003814/chinese-stocks-jump-as-central-bank-unveils-major-stimulus-to-spur-economy-a-step-in-the-right-direc">further monetary stimulus</a>, including cuts to the reserve requirement ratio for banks. 
By Wednesday, the economic stimulus had sparked optimism among analysts, who identified several large-cap Chinese stocks with strong upside potential. The PBoC&#8217;s measures are expected to inject approximately $140 billion into the economy, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41032804/chinas-stimulus-sparks-optimism-3-large-cap-stocks-with-analyst-buy-ratings">encouraging more lending to boost growth</a>.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Global

Real Estate

Chinese Cities Plan To Ease Home Buying Limits To Boost Struggling Real Estate Sector: Report

After melting hearts with her cute mannerisms, viral internet sensation "Moo Deng" is helping cryptocurrency traders multiply profits.
What happened: &nbsp;The adorable baby hippo has been charming social media users and attracting long queues at the Thailand zoo where she is housed, ever since the first few videos of her playful nature surfaced.
And, as with most viral phenomena these days, the cryptocurrency market has attempted to profit from the excitement surrounding the cute animal
A memecoin themed on Moo Deng has surged nearly 700% since its launch earlier this month, <a href="https://www.coingecko.com/en/coins/moo-deng">according </a>to CoinGecko. The Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)&#8211;based token has already racked up a market capitalization of more than $190 million as of this writing. 
In fact, Moo Deng (MOODENG) had the highest 24-hour increase, nearly 80%, of any memecoin introduced through Pump.Fun, Solana&#8217;s token launchpad.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41053101/maxine-waters-says-crypto-is-inevitable-other-countries-are-way-ahead-of-the-united-states">Maxine Waters Says &#8216;Crypto Is Inevitable,&#8217; Other Countries Are &#8216;Way Ahead&#8217; Of The United States</a>
While it is difficult to estimate how long the frenzy will last given the volatility of the memecoin market, retail traders aren't missing any opportunity to milk the ongoing interest around the baby hippo for financial gains.
Price Action: At the time of writing, Moo Deng was exchanging hands at $0.1944, up 80.7% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41053347/sec-chair-gensler-says-crypto-will-not-persist-without-investor-protection-the-automobile-">SEC Chair Gensler Says Crypto Will Not Persist Without Investor Protection: &#8216;The Automobile Wouldn&#8217;t Have Survived If You Didn&#8217;t Have Traffic Lights&#8217;</a></li>
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Photo courtesy: Tambako the Jaguar via Flickr

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Memecoin Inspired By Baby Hippo 'Moo Deng' Jumps 700% Since Launch, Market Cap Surges Past $190M

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<a href="https://www.wsj.com/business/media/directv-and-dish-near-deal-that-has-eluded-them-for-years-04238d00" title="https://www.wsj.com/business/media/directv-and-dish-near-deal-that-has-eluded-them-for-years-04238d00">https://www.wsj.com/business/media/directv-and-dish-near-deal-that-has-eluded-them-for-years-04238d00</a>

SATS

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Tesla Inc. and SpaceX CEO Elon Musk&#8217;s social media platform X, formerly Twitter, is reportedly making efforts to re-establish its <a href="https://www.benzinga.com/news/24/09/40952310/elon-musks-x-fined-1m-a-day-by-brazils-supreme-court-for-defying-ban-on-platform-judge-says-part-of">presence in Brazil</a>.
What Happened: X has appealed to Brazil&#8217;s Supreme Court to revoke&nbsp;a ban on the platform,&nbsp;asserting its compliance with orders to control misinformation, reported Reuters, citing a document.
The platform was <a href="https://www.benzinga.com/news/24/08/40664929/brazil-judge-bans-x-after-months-long-feud-threatens-fines-of-nearly-9k-per-day-on-users-who-try-to">banned in late August</a> following a disagreement with a local judge over what Musk referred to as &#8220;censorship.&#8221;
 This legal tussle also impacted another Musk-owned business, Starlink, leading Musk to label Justice Alexandre de Moraes a &#8220;dictator.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/09/41016829/possible-but-not-probable-steve-jobs-witty-transportation-answer-in-1973-resume-earns-him-online-acc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Possible, But Not Probable&#8217;: Steve Jobs&#8217; Witty Transportation Answer In 1973 Resume Earns Him Online Accolades</a>
While the court&#8217;s decision&nbsp;on X&#8217;s return is still&nbsp;pending, insiders&nbsp;close to Musk in Brazil&nbsp;anticipate that the service could be reinstated within days, the report noted.
In a statement on Thursday, X highlighted the importance of its presence in Brazil for a thriving democracy and pledged to uphold&nbsp;freedom of expression and due&nbsp;process of law.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">X is committed to protecting free speech within the boundaries of the law and we recognize and respect the sovereignty of the countries in which we operate. We believe that the people of Brazil having access to X is essential for a thriving democracy, and we will continue to…
&mdash; Global Government Affairs (@GlobalAffairs) <a href="https://twitter.com/GlobalAffairs/status/1839480546621100315?ref_src=twsrc%5Etfw">September 27, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Previously, Brazilian President Luiz Inácio Lula da Silva had <a href="https://www.benzinga.com/news/24/09/40678732/just-because-elon-musk-is-rich-the-world-doesnt-have-to-put-up-with-his-far-right-ideology-says-braz">criticized Musk&#8217;s ideological stand</a> and stated, &#8220;The world is not obliged to put up with Musk&#8217;s far-right ideology just because he is rich.&#8221;
Earlier this month, after Musk&#8217;s companies <a href="https://www.benzinga.com/24/09/40864550/brazils-supreme-court-lifts-freeze-on-starlink-and-xs-finances-after-elon-musks-companies-cough-up-3">paid $3.3 million in fines</a>, Brazil's Supreme Court Justice Moraes lifted the freezes on Starlink and X bank accounts.
Meanwhile, despite Musk&#8217;s legal and operational difficulties in Brazil, other tech giants like Microsoft Corp. have made significant progress in the country.
The Satya Nadella-led company has <a href="https://www.benzinga.com/news/24/09/41059694/elon-musks-raging-feud-aside-brazil-attracts-2-7b-investment-from-microsoft-to-boost-ai-ecosystem">pledged a $2.7 billion</a> investment to nurture the AI ecosystem in Latin America&#8217;s largest economy.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Social Media

Tech

Media

Elon Musk's X Reportedly Aims For Brazil Reentry, Backs Down From Censorship Dispute

Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) CEO Jim Farley drove through Europe in an electric vehicle in August and came back with several realizations including the need for a better charging infrastructure if <a href="https://www.benzinga.com/news/24/09/41060572/ev-sales-expected-to-gain-momentum-in-us-in-q3-even-as-market-leader-tesla-is-projected-to-decline-r">EV adoption is to pick up pace in the U.S.</a>
What Happened: Farley drove from Germany to Italy to meet with Ford Pro employees, dealers, customers, and upfitters in a new electric <a href="https://www.benzinga.com/news/24/08/40525705/fords-e-transit-van-could-be-its-golden-goose-until-new-evs-start-rolling-out-in-2026">Ford E-Transit Custom </a>and its plug-in hybrid variant in August, the CEO said in a note on Linkedin.
During the journey, the CEO experienced little issues with charging unlike during his journey on an EV across California last year, he said. 
&#8220;One of the key reasons electric vehicle adoption has stalled in the U.S. is a lack of charging, especially for long distance drives. There's still more work to be done in Europe and bolder investment needed by policymakers to get to mass coverage, but I was excited by the existing charging options I saw and how reliable access lowers range anxiety,&#8221; the CEO said.
Farley also said that he realized customers want a range of powertrain solutions depending on their use of the vehicle. While some will stick to diesel and hybrids for the foreseeable future, some businesses are going electric to lower costs, he said. 
The Ford CEO reiterated the company&#8217;s commitment to decarbonization in his note but added that hybrids, plug-in hybrids, and partially electric vehicles will &#8220;coexist with electric vehicles longer than anyone previously thought.&#8221;
Ford Pulls Back On EVs: Ford is now postponing previously stated EV timelines and has even dropped new products. Last month, Ford said that it is&nbsp;<a href="https://www.benzinga.com/top-stories/24/08/40496864/ford-scraps-electric-suv-as-it-adjusts-to-lower-electric-vehicle-demand" target="_blank" rel="noreferrer noopener">killing its plans to build a three-row electric SUV</a>, initially slated for production in 2025. The company also postponed its plans for a new electric version of its F-150 pickup to 2027 and said it will start making a new electric commercial van in 2026.
More details on the company's EV strategy are now expected in the first half of 2025.
EV Financials: Ford&#8217;s EV segment recorded an earnings before interest and taxes (EBIT) loss of $1.14 billion <a href="https://www.benzinga.com/news/earnings/24/07/39943178/ford-q2-earnings-highlights-revenue-beat-eps-miss-transit-vans-hit-record-ev-sales-fall-37" target="_blank" rel="noreferrer noopener">in the second quarter</a> owing to industry-wide pricing pressure and lower wholesales despite significant cost reductions in the segment.
For the whole year, Ford expects to incur a loss of $5 billion to $5.5 billion within the EV segment, called Model E.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
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<li><a href="https://www.benzinga.com/news/24/09/41061483/spacexs-starlink-now-connects-4m-customers-with-more-than-6k-operational-satellites-adds-a-million-u">SpaceX&#8217;s Starlink Now Connects 4M Customers With More Than 6K Operational Satellites, Adds A Million Users In 4 Months</a></li>
</ul>
Image via photos on Shutterstock

Ford CEO Jim Farley's EU Roadtrip Sparks Call For Better EV Charging Infrastructure In US, Says He Was 'Excited' By Charging Options Available

Vice President Kamala Harris remains in the lead in two key swing states that will matter for the <a href="https://www.benzinga.com/topic/2024-election">Nov. 5 election results, </a>according to a new poll by the University of Massachusetts Lowell/YouGov Survey published Thursday.
Tally In Michigan: Harris had a five-point lead in Michigan as she received the support of 48% of the likely voters versus the 43% support Republican candidate Donald Trump received. No other candidate received more than 2% support and 3% said they were undecided.
The survey was conducted on Sept. 11-19 with a sample of 650 likely voters in Michigan, with the adjusted sample of error at plus, or minus 4.37%. 
&#8220;For a swing state, this margin is good news for the vice president's campaign," said Rodrigo Castro Cornejo, UMass Lowell assistant professor of political science. 
&#8220;In the next few days, we can expect the Harris campaign will defend her lead. The Trump campaign, on the other hand, has a negative favorability that needs to be overcome if they want to remain competitive in the state.&#8221;
The Harris as well as Trump backers are firm in their choices, with only 6% of Trump backers and 4% of Harris backers saying they could change their minds and vote for different candidates.
On a negative note, Trump&#8217;s favorability rating left a lot to be desired. Notwithstanding the close race, suggested by the head-on-head matchup, the former president had a net negativity favorability rating of -15, with 41% viewing him favorably, while 56% viewed him unfavorably. Three percent said they had no opinion about him.
Harris had a net neutral favorability rating, with 47% each saying they viewed her favorably and unfavorably. Five percent said they had no opinion about her.
Trump is scheduled to campaign in West Michigan on Friday and is scheduled to speak at a manufacturing facility in a Grand Rapids suburb and host a town hall at Macomb Community College in Warren. Meanwhile, Harris was in Michigan last week and participated in a <a href="https://www.benzinga.com/news/24/09/40950764/kamala-harris-tells-oprah-winfrey-she-felt-a-sense-of-responsibility-after-bidens-sudden-exit-it-cam">livestream event hosted by TV host </a>Oprah Winfrey from Farmington Hills.
See Also: <a href="https://www.benzinga.com/news/24/09/41022725/trump-vs-harris-vice-presidents-favorability-hits-record-high-but-faces-setback-on-this-key-election">Trump Vs. Harris: Vice President&#8217;s Favorability Hits Record High, But Faces Setback On This Key Election Issue</a>
Tally in Pennsylvania: Harris prevailed over Trump by a margin of 48%-46% in the key swing state of Pennsylvania, another UMass UMass Lowell Center for Public Opinion&nbsp;and YouGov poll showed. No other candidate received more than 1% support and 4% said they were undecided. 
The poll was conducted online-based between Sept. 11-19 and had a margin of error of plus/minus 4 percentage points.&nbsp;
Four percent of Trump voters said they could switch their preferences and a steeper 7% of Harris felt similarly.
&#8220;The presidential race remains very close in Pennsylvania with the coming weeks a crucial time for both campaigns,&#8221; said Castro Cornejo. &#8220;As can be expected in a highly competitive race with few undecided voters, get-out-the-vote strategies will become increasingly important to mobilize supporters and ensure they go to the polls on Election Day.&#8221;
No other candidate on the ballot received more than 1% of support from respondents in the survey, while 4% reported remaining undecided.
Harris had a net negative favorability rating of 1%, while her rival had a far worse negative 11 percent favorability rating.
In the Senate race, Sen. Bob Casey, Jr. (D-Pa.) was ahead of David McCormick by a 47%-38% margin.
The polling averages compiled by prominent pollster <a href="https://www.benzinga.com/news/24/09/40933807/nate-silver-says-2024-race-still-tossup-despite-kamala-harris-post-debate-bump-our-elections-arent-d">Nate Silver</a> showed Harris leading Trump by 1.5 points in Pennsylvania (48.8%-47.3%) and by 2.3 points in Michigan (49.1%-46.8%).
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Image via Shutterstock

Politics

General

Trump Vs. Harris: As Vice President Builds Lead In Michigan And Inches Ahead In Pennsylvania, Pollster Says 'Get-Out-The-Vote Strategies' Crucial In Highly Competitive Race

OpenAI&#8216;s CFO Sarah Friar reportedly informed employees that <a href="https://www.benzinga.com/news/24/09/41043358/sam-altman-poised-for-10-5b-payday-as-openai-transitions-to-for-profit-model-with-150b-valuation-on">investor interest in the company&#8217;s funding round</a> was &#8220;incredibly high.&#8221; 
What Happened: This announcement aimed to reassure staff following the unexpected resignations of several high-profile executives, reported Axios, <a href="https://www.axios.com/2024/09/27/openai-mira-murati-sam-altman-staff-meeting?ref=biztoc.com">citing</a> a source familiar with the situation.
The departures began with CTO Mira Murati, who informed CEO Sam Altman of her decision on Wednesday morning. 
Her resignation was publicly announced later that afternoon. Following Murati&#8217;s exit, Chief Research Officer Bob McGrew and VP of Research Barret Zoph also announced their departures.
During a half-hour staff meeting on Thursday, Altman, appearing remotely from Italy, along with Friar and Murati, addressed the company&#8217;s direction and future. Altman expressed gratitude towards Murati and acknowledged the promotion of Mark Chen to Senior VP of Research and Jakub Pachocki to Chief Scientist.
Friar highlighted the overwhelming investor interest in the funding round, describing it as &#8220;very oversubscribed and market-defining.&#8221; She noted that investors are impressed by OpenAI&#8217;s progress and potential.
A clause in the funding agreement allows investors to request their money back if OpenAI does not restructure within two years, according to the report.
Additionally, OpenAI&#8217;s board is contemplating a shift away from its nonprofit roots, potentially granting significant equity to Altman. 
OpenAI did not immediately respond to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga&#8217;s</a> comment request.
See Also: <a href="https://www.benzinga.com/news/24/09/40998105/marques-brownlee-reviews-apples-iphone-16-and-launches-new-app-this-is-the-most-unfinished-ive-ever?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Marques Brownlee Reviews Apple&#8217;s iPhone 16 And Launches New App: &#8216;This Is The Most Unfinished I&#8217;ve Ever Seen A New iPhone Launch&#8217;</a>
Why It Matters: The recent high-profile departures at OpenAI come at a crucial time as the company undergoes significant changes. CEO Altman recently <a href="https://www.benzinga.com/news/24/09/41059344/sam-altman-hits-back-at-trolls-after-mira-muratis-openai-exit-explains-executive-drain-as-natural-we">defended the executive exits</a>, stating that such changes are natural for a rapidly growing company. 
OpenAI is also transitioning to a for-profit model, a move that could significantly benefit Altman financially. The restructuring aims to attract more investors and could <a href="https://www.benzinga.com/news/24/09/41043358/sam-altman-poised-for-10-5b-payday-as-openai-transitions-to-for-profit-model-with-150b-valuation-on">lead to an IPO in the future</a>. 
Furthermore, OpenAI has reportedly been engaging with President Joe Biden&#8216;s administration to <a href="https://www.benzinga.com/news/24/09/41020113/sam-altmans-openai-pushes-biden-administration-for-massive-5gw-data-centers-equivalent-to-output-of">expand its data centers</a>, highlighting the economic and national security benefits. 
Lastly, OpenAI&#8217;s collaboration with Apple Inc.&#8216;s former design legend Jony Ive on a new AI hardware project adds another layer of intrigue to the company&#8217;s future. Details about <a href="https://www.benzinga.com/news/24/09/40973399/apples-former-design-maestro-jony-ive-confirms-hes-joined-forces-with-openais-sam-altman-for-a-new-a">this project remain scarce</a>. 
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/41061660/ex-microsoft-ceo-and-billionaire-steve-ballmer-says-he-gets-most-important-stuff-from-elon-musks-x-i">Ex-Microsoft CEO And Billionaire Steve Ballmer Says He Gets &#8216;Most Important Stuff&#8217; From Elon Musk&#8217;s X: &#8216;I Wanna Know Straight From The Source&#8217;</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Startups

OpenAI CFO Sarah Friar Reassures Staff Of 'Incredibly High' Investor Interest As CTO Mira Murati And Key Executives Exit Amid Major Strategic Shift

British Prime Minister Sir Keir Starmer had a two-hour dinner with former U.S. President Donald Trump in New York. However, he did not meet Democratic presidential candidate Kamala Harris.
What Happened: The dinner, held at Trump Tower, marked the first meeting between Sir Keir and Trump. They were joined by Foreign Secretary David Lammy. The prime minister was in New York for the UN General Assembly, BBC <a href="https://www.bbc.com/news/articles/c2439897mg2o">reported</a> on Friday.
Neither the U.K. government nor Trump have disclosed the topics discussed during the dinner. Starmer described the meeting as &#8220;good,&#8221; while Trump praised Keir&#8217;s electoral race and popularity.
Despite being in New York, Sir Keir did not meet with Harris, citing &#8220;usual diary challenges.&#8221; Harris was in Washington for talks with President Joe Biden and President Volodymyr Zelenskyy.
When asked about the potential impact of a Trump presidency on UK support for Ukraine, Sir Keir emphasized the longstanding special relationship between the U.K. and the U.S.
See Also: <a href="https://www.benzinga.com/news/24/09/40973072/lindsey-graham-says-either-saudi-arabia-recogonizes-israel-or-tel-aviv-targets-tehran-we-need-game-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Lindsey Graham Says Either Saudi Arabia Recognizes Israel Or Tehran Gets Targeted: &#8216;We Need Game Changing Peace Or Game Changing Military Strategy&#8217; (UPDATED)</a>
Why It Matters: This meeting comes after a recent encounter between Sir Keir and President Joe Biden on Sept.14, where they <a href="https://www.benzinga.com/news/24/09/40867065/starmer-and-biden-meet-focus-on-ukraine-amid-putin-threats">discussed the ongoing conflict</a> in Ukraine and the threats posed by Vladimir Putin. The meeting, held at the White House, highlighted the strong alliance between the U.K. and the U.S. in addressing global issues.
Meanwhile, a recent survey revealed that 55% of chief financial officers (CFOs) believe <a href="https://www.benzinga.com/news/24/09/41049170/harris-vs-trump-55-cfos-believe-vice-president-likely-to-win-election-although-ex-president-is-bette">Harris is likely to win</a> the upcoming presidential election, despite many considering Trump better suited to handle economic challenges. 
Check This Out:
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<li>Lawmakers Made Huge Investments This Year.&nbsp;<a href="https://www.benzinga.com/gov-trades" target="_blank" rel="noreferrer noopener">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Photo via Shutterstock.
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

British PM Dines With Trump, Skips Meeting With Kamala Harris Due To 'Usual Diary Challenges'

Steve Ballmer, the former CEO of Microsoft and current owner of the Los Angeles Clippers, has declared Elon Musk-owned social media platform X (formerly Twitter) as his <a href="https://www.benzinga.com/news/24/09/40969810/elon-musk-faces-sec-backlash-over-missed-testimony-quips-actual-crimes-go-unpunished">go-to source for news</a>. 
What Happened: This comes amid ongoing debates about the reliability of social media for news consumption and the struggles of traditional news outlets in the digital age.
&#8220;What I get on X is what news sources think is their most important stuff,&#8221; Ballmer stated in a recent interview. &#8220;I follow people who are important in world events. I wanna know straight from the source.&#8221;
The clip of Ballmer&#8217;s interview was shared by X CEO Linda Yaccarino on the platform, who emphasized the point by stating, &#8220;If you want the news, X is the place says facts guy,&#8221; and tagged Ballmer&#8217;s X account.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If you want the news, X is the place says facts guy <a href="https://twitter.com/Steven_Ballmer?ref_src=twsrc%5Etfw">@Steven_Ballmer</a> ! <a href="https://t.co/tSt0aReoEe">pic.twitter.com/tSt0aReoEe</a>
&mdash; Linda Yaccarino (@lindayaX) <a href="https://twitter.com/lindayaX/status/1839353871287939404?ref_src=twsrc%5Etfw">September 26, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Interestingly, Microsoft, the company Ballmer once led, has its own news division. Microsoft News, initially launched in 2012, has seen significant development under current CEO Satya Nadella since 2014. Nadella&#8217;s leadership has steered Microsoft towards cloud computing, artificial intelligence, and digital content, including news services.
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/41060268/elon-musks-not-so-long-ago-prediction-of-a-1929-market-crash-falls-flat-as-s-p-500-soars-50-defy">Elon Musk&#8217;s Not-So-Long-Ago Prediction Of A 1929 Market Crash Falls Flat As S&amp;P 500 Soars 50%, Defying Tesla CEO&#8217;s Gloomy Outlook</a>
Why It Matters: The endorsement from Ballmer, coupled with Yaccarino&#8217;s promotion of it, also underscores Musk&#8217;s ambitions to position X as a leading platform for news and real-time information, potentially challenging both traditional media outlets and <a href="https://www.benzinga.com/news/24/08/40145058/elon-musk-says-real-time-data-from-x-tesla-cars-and-optimus-robots-in-future-will-make-grok-best-ai">other tech giants in the news space</a>.
In July, <a href="https://www.benzinga.com/news/24/07/39656863/steve-ballmer-is-now-worth-just-as-much-as-if-not-more-than-his-old-boss-bill-gates">Ballmer briefly outpaced</a> Microsoft co-founder Bill Gates in terms of wealth, with both estimated to be worth $158 billion. This surge in wealth was attributed to Ballmer&#8217;s investments in various ventures, including sports and real estate.
Ballmer&#8217;s financial success is part of a trend among American billionaires who have attained their status <a href="https://www.benzinga.com/news/24/02/37059392/from-steve-ballmer-to-jamie-dimon-meet-the-billionaires-who-amassed-their-wealth-without-founding-a">not by establishing companies or inheriting wealth</a> but by climbing the ranks. This exclusive cadre of billionaires includes notable figures such as Apple&#8216;s Tim Cook, JPMorgan&#8216;s Jamie Dimon, and Ballmer.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/09/41060712/trump-wants-nancy-pelosi-prosecuted-over-husband-pauls-visa-stock-sale-before-doj-lawsuit-you-th">Trump Wants Nancy Pelosi Prosecuted Over Husband Paul&#8217;s Visa Stock Sale Before DOJ Lawsuit: &#8216;You Think It Was Luck? I Don&#8217;t Think So&#8217;</a></li>
</ul>
Image via Flickr
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Ex-Microsoft CEO And Billionaire Steve Ballmer Says He Gets 'Most Important Stuff' From Elon Musk's X: 'I Wanna Know Straight From The Source'

Sen. Ron Wyden (D-Ore.) has introduced a sweeping bill to reform the Supreme Court, aiming to restore public trust in the institution.
What Happened: The legislation seeks to expand the number of justices from nine to 15 over 12 years. This staggered approach aims to prevent any single political party from dominating the court. Wyden, who chairs the Senate Finance Committee, said the bill&#8217;s goal is to rebuild public confidence in the judiciary, The Washington Post <a href="https://www.washingtonpost.com/politics/2024/09/26/supreme-court-reform-15-justices-wyden/">reported</a> on Friday.
Another key provision requires a two-thirds majority in the Supreme Court and circuit courts to overturn Congressional laws. This aims to curb the court&#8217;s recent trend of overturning laws with narrow majorities. The bill also mandates automatic Senate votes on Supreme Court nominees if their nominations linger in committee for over 180 days.
Wyden&#8217;s proposal includes expanding federal judicial circuits from 13 to 15, adding more than 100 district court judges and over 60 appellate-level judges. The bill also introduces stringent financial disclosure requirements for justices, including annual IRS audits and public release of tax filings.
See Also: <a href="https://www.benzinga.com/news/24/09/41022725/trump-vs-harris-vice-presidents-favorability-hits-record-high-but-faces-setback-on-this-key-election?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Harris: Vice President&#8217;s Favorability Hits Record High, But Faces Setback On This Key Election</a>
Despite its ambitious scope, the bill faces significant hurdles, as Republicans generally oppose efforts to overhaul the court. Other Democratic proposals for Supreme Court reform have also faced resistance, highlighting the challenging path ahead for Wyden&#8217;s legislation.
Why It Matters: Wyden&#8217;s proposal comes amid a backdrop of heightened scrutiny and controversy surrounding the Supreme Court. In July, Rep. Alexandria Ocasio-Cortez (D-N.Y.) announced her intention to <a href="https://www.benzinga.com/news/24/07/39587204/aoc-says-she-will-file-articles-of-impeachment-against-supreme-court-justices-after-trump-immunity-r">file impeachment articles </a>against at least one Supreme Court justice. This followed the top court's ruling to grant former President Donald Trump <a href="https://www.benzinga.com/general/politics/24/07/39577351/trump-granted-partial-immunity-by-supreme-court-ruling-says-the-president-is-not-above-the-law-d">partial immunity from felony charges</a> related to his efforts to overturn the 2020 election results.
Additionally, in September, a U.S. District Judge temporarily blocked the Biden administration&#8217;s latest <a href="https://www.benzinga.com/news/earnings/24/09/40741553/us-judge-temporarily-blocks-bidens-latest-student-loan-relief-plan-why-it-matters">student debt relief </a>plan, following a lawsuit by seven Republican-led states. This ruling has added to the ongoing debate over the judiciary&#8217;s role in shaping national policy. 
Moreover, the Supreme Court recently<a href="https://www.benzinga.com/government/24/06/39555003/supreme-court-overturns-chevron-ruling-biden-administration-warns-of-convulsive-shock"> overturned the Chevron doctrin</a>e, a 40-year-old decision that required judges to defer to agencies&#8217; reasonable interpretations of congressional statutes. This significant change allows judges to decide on laws that are considered ambiguous, further intensifying the debate over judicial power.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments.&nbsp;<a href="https://www.benzinga.com/gov-trades" target="_blank" rel="noreferrer noopener">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Democratic Lawmaker Proposes Supreme Court Overhaul: Expands Justices, Mandates Two-Thirds Majority To Overturn Laws

The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, but the index remained in the &#8220;Greed&#8221; zone on Thursday.
U.S. stocks settled higher on Thursday, with the S&amp;P 500 surging to a fresh record high level during the session.
Micron Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) shares jumped around 15% on Thursday after the company reported better-than-expected fourth-quarter financial results. Accenture Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) reported better-than-expected earnings for its fourth quarter.
On the economic data front, U.S. core PCE prices increased by 2.8% from the prior quarter during the second quarter compared to a 3.7% gain in the previous period. U.S. initial jobless claims fell by 4,000 from the prior week to 218,000 during the period ending September 21, compared to estimates of 225,000. The U.S. economy expanded at an annualized rate of 3% during the second quarter versus a revised 1.6% increase in the first quarter.
Most sectors on the S&amp;P 500 closed on a positive note, with materials, information technology, and financials stocks recording the biggest gains on Thursday. However, energy and real estate stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 260 points to 42,175.11 on Thursday. The S&amp;P 500 rose 0.40% to 5,745.37, while the Nasdaq Composite gained 0.60% at 18,190.29 during Thursday's session.
Investors are awaiting earnings results from Moving iMage Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MITQ#NYSE">MITQ</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 71.8, the index remained in the &#8220;Greed&#8221; zone on Thursday, versus a prior reading of 67.1.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
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</ul>

Earnings

MITQ

S&P Hits New Record High Following Economic Reports: Investor Optimism Improves Further, Fear Index Remains In 'Greed' Zone

With U.S. stock futures trading mixed this morning on Friday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Costco Wholesale Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>) reported upbeat earnings for its fourth quarter, while sales missed expectations. The company <a href="https://www.benzinga.com/news/earnings/24/09/41056967/costco-q4-earnings-revenue-miss-eps-beat-comps-climb-5-4-shares-slide">reported</a> quarterly revenue of $79.697 billion, missing the consensus estimate of $79.973 billion. The membership-based retailer reported quarterly earnings of $5.29 per share, beating analyst estimates of $5.08 per share, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Costco shares slipped 1.4% to $888.62 in after-hours trading.</li>
<li>Moving iMage Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MITQ#NYSE">MITQ</a>) will report financial and operational results for its fourth quarter. Moving iMage Technologies shares gained 5% to $0.5985 in the after-hours trading session.</li>
<li>Scholastic Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCHL#NASDAQ">SCHL</a>) reported better-than-expected results for its first quarter, after the closing bell on Thursday. Scholastic reported a quarterly loss of $2.13 per share compared to market estimates for a loss of $2.48 per share. The company reported quarterly sales of $237.200 million which beat the analyst consensus estimate of $233.488 million. Scholastic shares gained 6.5% to $32.13 in the after-hours trading session.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>enVVeno Medical Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVNO#NASDAQ">NVNO</a>) announced a proposed public offering. enVVeno Medical shares dipped 15.6% to $3.80 in the after-hours trading session.</li>
<li>Travere Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TVTX#NASDAQ">TVTX</a>) announced a voluntary pause of enrollment in its Phase 3 HARMONY study of Pegtibatinase. Travere Therapeutics shares fell 5.3% to $14.24 in the after-hours trading session.</li>
</ul>
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</ul>
Photo courtesy: Flickr

COST

NVNO

SCHL

TVTX

Costco, Scholastic And 3 Stocks To Watch Heading Into Friday

Elon Musk&#8216;s SpaceX said on Thursday that its Starlink <a href="https://www.benzinga.com/news/24/09/40826886/t-mobile-sends-first-wireless-emergency-alert-via-spacexs-starlink-satellites-in-space">satellite internet service</a> is providing connectivity to over 4 million people around the globe.
What Happened: The company made the announcement via a post on social media platform X, adding that the 4 million Starlink customers are spread across over 100 countries, territories, and other markets.
Starlink announced that it is connecting over 3 million customers merely a few months back on May 20, implying that the segment added a million customers in just 4 months. 
Starlink first hit a million subscribers in December 2022 after starting limited beta internet service in 2020. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Starlink is connecting more than 4M people with high-speed internet across 100+ countries, territories and many other markets. Thank you to all of our customers around the world! &#x1f6f0;&#xFE0F;&#x1f30e;&#x2764;&#xFE0F; → <a href="https://t.co/zR6w4t1qM9">https://t.co/zR6w4t1qM9</a> <a href="https://t.co/sk7wucihxH">pic.twitter.com/sk7wucihxH</a>
&mdash; Starlink (@Starlink) <a href="https://twitter.com/Starlink/status/1839424733198344617?ref_src=twsrc%5Etfw">September 26, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Starlink uses a constellation of satellites in low-Earth orbit to provide connectivity to customers <a href="https://www.benzinga.com/news/24/09/41023552/hawaiin-airlines-airbus-planes-take-flight-with-starlink-internet-service-at-no-additional-cost-to-c">including airlines</a>. Earlier this month, SpaceX launched its <a href="https://www.benzinga.com/news/24/09/40744852/elon-musks-spacex-rockets-past-new-milestone-launches-7-000th-starlink-satellite">7000th Starlink satellite into space</a>. Of these, over 6000 are working, according to data kept by astronomer Jonathan McDowell. 
Earlier on Thursday, Air France said that it will start rolling out onboard Wi-Fi service in all its aircraft with Starlink from 2025. 
&#8220;During the flight, customers will be able to easily stay in touch with friends and family, follow all the world&#8217;s news live, play video games online, and of course stream TV, films, and series,&#8221; the airline company said. &#8220;The service will be accessible from smartphones, digital tablets, and laptops, and each customer will be able to connect several devices simultaneously.&#8221;
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
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<li><a href="https://www.benzinga.com/news/24/09/41060572/ev-sales-expected-to-gain-momentum-in-us-in-q3-even-as-market-leader-tesla-is-projected-to-decline-r">EV Sales Expected To Gain Momentum In US In Q3 Even As Market Leader Tesla Is Projected To Decline: Report</a></li>
</ul>
Photo courtesy: Shutterstock

SPACE

SpaceX's Starlink Now Connects 4M Customers With More Than 6K Operational Satellites, Adds A Million Users In 4 Months

The Central and Eastern Europe Fund, Inc. (NYSE:<a href="https://www.benzinga.com/stock/CEE#NYSE">CEE</a>) (the "Fund"). As previously reported, certain of the Fund's Russian holdings have been valued at zero since March 14, 2022 in light of measures adopted by the Russian Central Bank and Government, as well as sanctions implemented by the United States and other countries in response to Russia's invasion of Ukraine. The effects of the sanctions and measures adopted by the Russian Central Bank and Government are far-reaching and include, among others, the freezing of certain Russian assets held by entities, such as the Fund, that are organized in countries viewed as "unfriendly" by the Russian Government.
The Fund's investment manager has been monitoring the situation closely and, as previously disclosed, has observed occasional privately negotiated transactions in depositary receipts of certain non-sanctioned Russian issuers taking place (at prices that are generally deeply discounted from those taking place through the facilities of the Moscow Stock Exchange). On May 30, 2024, the Fund announced that in May 2024 the Fund had been successful in selling depositary receipts of one non-sanctioned Russian issuer in such a privately negotiated transaction resulting in positive impact to the Fund's net asset value ("NAV"). In August and to date in September 2024, the Fund was successful in selling additional depositary receipts of five non-sanctioned Russian issuers in privately negotiated transactions resulting in positive impact to the Fund's NAV.
The Fund will continue to monitor developments in this area and may make further opportunistic sales of depositary receipts for Russian securities to the extent that such sales are deemed to be in the best interests of the Fund and its stockholders and consistent with applicable sanctions and other laws and regulations. However, there can be no assurances that any further such sales will be feasible or considered to be in the best interests of the Fund. The Fund notes that pursuant to a license issued by the Office of Foreign Asset Control of the US Department of Treasury ("OFAC"), transactions in certain Russian equities are currently permitted through October 12, 2024. Any future transactions by the Fund in Russian equities and in depositary receipts for such equities after such date will be prohibited unless a license permitting such a transaction is obtained from OFAC. There can be no assurance that such licenses, if requested, will be granted. Also, it should be noted that nine of the Fund's remaining twelve positions in Russian securities are held as either "local shares," or depositary receipts for securities of issuers that are subject to U.S. sanctions such that it would not be possible for the Fund to sell them, absent receipt of special permissions granted by the U.S., which permissions are unlikely to be forthcoming if requested at the present time. Moreover, a recent Russian Presidential Decree may result in the expropriation of certain Russian assets held by certain foreign investors, which potentially could include the Fund.

Government

Regulations

Asset Sales

Central and Eastern Europe Fund Sells Russian Assets, Boosts NAV Amid Sanctions

Carnival Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) will release earnings results for its third quarter, before the <a href="https://www.benzinga.com/quote/CCL/earnings">opening bell on Monday, Sept. 30.</a>
Analysts expect the Miami, Florida-based company to report quarterly earnings at $1.16 per share, up from 86 cents per share in the year-ago period. Carnival projects to report revenue of $7.83 billion for the quarter, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Carnival, last month, unveiled new itineraries for seven ships sailing in 2026 and 2027 from Miami, Port Canaveral, Galveston, and Baltimore. The new itineraries include Half Moon Cay, which will expand with a larger beach, enhanced dining, and a new pier for Carnival's Excel class ships, including Mardi Gras and Carnival Celebration.
Carnival shares gained 3.6% to close at $18.68 on Thursday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/TJX/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/586bcbd9351b9b0001ab738c/matthew-boss">JP Morgan analyst Matthew Boss </a>maintained an Overweight rating and raised the price target from $23 to $25 on July 24. This analyst has an accuracy rate of 67%.</li>
<li>Truist Securities analyst Patrick Scholes maintained a Hold rating and boosted the price target from $17 to $20 on July 23. This analyst has an accuracy rate of 68%.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5975f4d735f48b0001d47eff/nicholas-thomas">B of A Securities analyst Nicholas Thomas</a> maintained a Buy rating and raised the price target from $23 to $24 on June 27. This analyst has an accuracy rate of 67%.</li>
<li>Argus Research analyst John Eade maintained a Buy rating and boosted the price target from $20 to $25 on June 27. This analyst has an accuracy rate of 74%.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/59282ae5290fa70001853256/james-hardiman">Citigroup analyst James Hardiman</a> maintained a Buy rating and raised the price target from $18 to $22 on June 26. This analyst has an accuracy rate of 67%.</li>
</ul>
Considering buying CCL stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="508" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/27030755/image-216-1024x508.png" alt="" class="wp-image-569111" style="width:568px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/27030755/image-216-1024x508.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/27030755/image-216-300x149.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/27030755/image-216-768x381.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/27030755/image-216.png 1336w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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</ul>

Price Target

Analyst Ratings

Carnival Gears Up For Q3 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

CION Investment Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CION#NYSE">CION</a>) (the "Company" or "CION") announced today that it has priced an underwritten public offering of $150.0 million aggregate principal amount of unsecured notes due 2029 (the "Notes"), which will result in net proceeds to the Company of approximately $145.4 million after the payment of underwriting discounts and commissions and estimated offering expenses payable by the Company. The Notes will mature on December 30, 2029 and may be redeemed in whole or in part at any time or from time to time at the Company's option on or after December 30, 2026. The Notes will be issued in denominations of $25 and integral multiples of $25 in excess thereof and will bear interest at a rate of 7.50% per year, payable quarterly, with the first interest payment occurring on December 30, 2024. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional $22.5 million aggregate principal amount of Notes to cover overallotments, if any.
The offering is expected to close on October 3, 2024, subject to customary closing conditions. The Company intends to list the Notes on the New York Stock Exchange under the symbol "CICB."
The Company intends to use the net proceeds of the offering of the Notes to pay down borrowings under the Company's senior secured credit facility with JPMorgan Chase Bank, National Association.

Offerings

CION

CION Plans to Pay Down Debt With Proceeds From $150M Unsecured Notes Offering

BeiGene, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BGNE#NASDAQ">BGNE</a>, HKEX: 06160, SSE: 688235)))), a global oncology company, announced the U.S. Food and Drug Administration (FDA) Oncologic Drugs Advisory Committee (ODAC) recognizes the favorable benefit-risk profile of PD-1 inhibitors, including TEVIMBRA&#xAE; (tislelizumab-jsgr), for the first-line treatment of patients with locally advanced unresectable or metastatic esophageal squamous cell carcinoma (ESCC) expressing PD-L1 (&gt;1%) and gastric/gastroesophageal junction (G/GEJ) cancers expressing PD-L1 &gt;1%.
The committee reviewed efficacy and safety data from the Phase 3 RATIONALE-305 (G/GEJ) and RATIONALE-306 (ESCC) studies, as well as other pivotal studies from the two other PD-1 inhibitors approved in these indications. The Advisory Committee voted 10 to 2, with one abstaining, that the risk benefit assessment was not favorable for the use of PD-1 inhibitors in G/GEJ with PD-L1 expression less than 1%. The ODAC members voted 11 to 1, with one abstaining, that the risk benefit profile was not favorable for ESCC patients with a PD-L1 expression less than 1%. The vote represents a recommended class-wide PD-L1 expression level cut-off across PD-1 inhibitors reviewed during the meeting for these patient populations.
"The survival rates for gastric and esophageal cancer remain strikingly low for the majority of patients who are diagnosed with late-stage disease and there is a need for additional treatments that can extend life," said Sally Werner, RN, BSN, MSHA, CEO at Cancer Support Community. "We appreciate the FDA's recognition of the need for safe and effective treatments for these cancers. Additional treatment options offer physicians and their patients choices on the treatment that is right for them."
"The vote by ODAC members to recommend a class-level cut-off of PD-L1 expression for PD-1 inhibitors used in the treatment of gastric/GEJ cancers and ESCC will help to establish a standard for clinicians and the patients they treat," said Mark Lanasa, M.D., Ph.D., Chief Medical Officer, Solid Tumors at BeiGene. "We look forward to working with the FDA as it completes its review of our BLAs for TEVIMBRA, and we strive to bring this therapy to applicable patients in the U.S."
Both the RATIONALE-305 and RATIONALE-306 studies met their endpoints of overall survival (OS), demonstrating a statistically significant reduction in the risk of death across both indications. The safety profile for TEVIMBRA in combination with chemotherapy is consistent with the known safety profile of anti-PD-1 antibodies, and no new safety signals were identified.
The Biologics License Applications (BLAs) for TEVIMBRA in these indications remain under review with the FDA. TEVIMBRA is currently approved in the U.S. for the treatment of adult patients with unresectable or metastatic ESCC after prior systemic chemotherapy that did not include a PD-L1 inhibitor.

BGNE

BeiGene's TEVIMBRA Gains FDA Panel Support for PD-1 Inhibitors in Advanced Esophageal and Gastric Cancers

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