Kessler Topaz Meltzer & Check, LLP Notifies Five Below, Inc. Investors of Upcoming Deadline in Securities Fraud Class Action Lawsuit
RADNOR, Pa., Sept. 08, 2024 (GLOBE NEWSWIRE) — The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed in the United States District Court for the Eastern District of Pennsylvania against Five Below, Inc. (“Five Below”) FIVE on behalf of investors who purchased or otherwise acquired Five Below securities between March 20, 2024 and July 16, 2024, inclusive (the “Class Period”) The lead plaintiff deadline is September 30, 2024.
CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP:
If you suffered Five Below losses, you may CLICK HERE or go to: https://www.ktmc.com/new-cases/five-below-inc?utm_source=PR&utm_medium=link&utm_campaign=five&mktm=r
Please CLICK HERE to view our video or copy and paste this link into your browser: https://youtu.be/fFmKozwIzvA
You can also contact attorney Jonathan Naji, Esq. by calling (484) 270-1453 or by email at info@ktmc.com.
DEFENDANTS’ ALLEGED MISCONDUCT:
The complaint alleges that, throughout the Class Period, Defendants provided investors with false and/or materially misleading information regarding Five Below’s financial strength and operations, including its outlook for the first quarter and full year 2024.
THE LEAD PLAINTIFF PROCESS:
Five Below investors may, no later than September 30, 2024, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
Kessler Topaz Meltzer & Check, LLP encourages Five Below investors who have suffered significant losses to contact the firm directly to acquire more information.
CLICK HERE TO SIGN UP FOR THE CASE OR GO TO: https://www.ktmc.com/new-cases/five-below-inc?utm_source=PR&utm_medium=link&utm_campaign=five&mktm=r
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.
CONTACT:
Kessler Topaz Meltzer & Check, LLP
Jonathan Naji, Esq.
(484) 270-1453
280 King of Prussia Road
Radnor, PA 19087
info@ktmc.com
May be considered attorney advertising in certain jurisdictions. Past results do not guarantee future outcomes.
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/R E P E A T — MEDIA ADVISORY – FEDERAL GOVERNMENT TO MAKE HOUSING ANNOUNCEMENT IN DARTMOUTH/
DARTMOUTH, NS, Sept. 6, 2024 /CNW/ – Media are invited to join Darren Fisher, Member of Parliament for Dartmouth–Cole Harbour on behalf of the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities, the Honourable Timothy Halman, provincial Minister of Environment and Climate Change and Member of Legislative Assembly for Dartmouth East on behalf of the Honourable John Lohr, Minister of Municipal Affairs and Housing and Miia Soukonau, Executive Director, YWCA Halifax.
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Date: |
September 8, 2024 |
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Time: |
12:00 pm AT |
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Location: |
29 Kassi Lane |
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Dartmouth, NS B2Y 0G9 |
SOURCE Government of Canada
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2024/08/c5094.html
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Federal Reserve's Potential Rate Cut Pause, JPMorgan's Stock Market Warning, And More: This Week In Economics
The past week has been a rollercoaster ride with significant developments in the financial and political landscape. From the Federal Reserve’s potential pause on rate cuts to JPMorgan’s cautionary note on the stock market, the week was filled with intriguing stories. Let’s dive into the top five stories that made headlines.
Federal Reserve May Pause Rate Cuts
A leading economist has suggested that the Federal Reserve might be compelled to put a hold on its rate cuts in response to potential supply-side shocks. However, it’s unlikely that the Fed will reverse its course.
JPMorgan’s Warning On Stock Market
JPMorgan has issued a warning that the anticipated Federal Reserve rate cuts may not significantly boost the stock market. The bank suggests that the Fed will start easing but in a more reactive manner.
Private Employment Misses Forecasts
Private sector job growth in August was significantly slower than economists’ estimates, indicating a softening labor market. The growth of 99,000 jobs sharply missed forecasts of 140,000.
Paul Krugman Criticizes Musk And Trump’s Plans
Nobel laureate Paul Krugman has voiced concerns over the proposed federal spending cuts by Donald Trump and Tesla CEO Elon Musk. Krugman warns that these cuts pose risks to Medicare and Social Security.
Kamala Harris’s Tax Deduction Initiative
Vice President Kamala Harris is set to unveil a $50K tax deduction for new small businesses. This move is seen as a counter to Trump’s economic policies and an attempt to win over middle-class voters ahead of the 2024 election.
Read Next:
Photo courtesy: Shutterstock
This story was generated using Benzinga Neuro and edited by Ananya Gairola
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Embrace Change Acquisition Corp. Receives Additional Staff Determination Notice from Nasdaq Related to Delayed Quarterly Report
SAN DIEGO, Sept. 07, 2024 (GLOBE NEWSWIRE) — Embrace Change Acquisition Corp. EMCG EMCGW, EMCGU, EMCGR))) (“Embrace Change” or the “Company”), announced today that on September 5, 2024, it received an additional staff determination notice from the Listing Qualifications Department of the Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it is delinquent in filing its Quarterly Report on Form 10-Q for the period ended June 30, 2024 (the “Form 10-Q”) and that this matter serves as an additional basis for delisting the Company’s securities from The Nasdaq Stock Market. The failure to timely file the 10-Q is a violation of Nasdaq Listing Rule 5250(c)(1).
Embrace Change is actively working to complete and file the delayed Form 10-Q. In accordance with the timeline established previously by the Nasdaq hearings panel, the Company aims to regain compliance with Nasdaq’s listing requirements by September 30, 2024, by completing all required filings.
This announcement is being made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification.
About Embrace Change Acquisition Corp.
Embrace Change Acquisition Corp. is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one or more businesses.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s search for an initial business combination and its ability to regain compliance with Nasdaq listing requirements. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s annual report and quarterly reports filed with the Securities and Exchange Commission (the “SEC”). Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact:
contact@embracechange.top
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Wynn Resorts paying $130M for letting illegal money reach gamblers at its Las Vegas Strip casino
LAS VEGAS (AP) — Casino company Wynn Resorts Ltd. has agreed to pay $130 million to federal authorities and admit that it let unlicensed money transfer businesses around the world funnel funds to gamblers at its flagship Las Vegas Strip property.
The publicly traded company said a non-prosecution settlement reached Friday represented a monetary figure identified by the U.S. Justice Department as “funds involved in the transactions at issue” at the Wynn Las Vegas resort.
In statements to the media and to the federal Securities and Exchange Commission, the company said the forfeiture wasn’t a fine and findings in the decade-long case didn’t amount to money laundering.
U.S. Attorney Tara McGrath in San Diego said the settlement showed that casinos are accountable if they let foreign customers evade U.S. laws. She said $130 million was believed to be the largest forfeiture by a casino “based on admissions of criminal wrongdoing.”
Wynn Resorts said it severed ties with all people and businesses involved in what the government characterized as “convoluted transactions” overseas.
“Several former employees facilitated the use of unlicensed money transmitting businesses, which both violated our internal policies and the law, and for which we take responsibility,” the company said in a statement Saturday to The Associated Press.
In its news release, the Justice Department detailed several methods it said were used to transfer money between Wynn Las Vegas and people in China and other countries.
One, dubbed “Flying Money,” involved an unlicensed money agent using multiple foreign bank accounts to transfer money to the casino for use by a patron who could not otherwise access cash in the U.S.
Another involved having a person referred to as a “Human Head” gamble at the casino at the direction of another person who was unwilling or unable to place bets because of anti-money laundering and other laws.
The Justice Department said one person, acting as an independent agent for the casino, conducted more than 200 money transfers worth nearly $18 million through bank accounts controlled by Wynn Las Vegas “or associated entities” on behalf of more than 50 foreign casino patrons.
Wynn Resorts called its agreement with the government a final step in a six-year effort to “put legacy issues fully behind us and focus on our future.” The SEC filing noted the investigation began about 2014.
It did not use the name of former CEO Steve Wynn. But since 2018, the parent company has been enmeshed with legal issues surrounding his departure after sexual misconduct allegations against him were first reported by the Wall Street Journal.
Wynn attorneys in Las Vegas did not respond Saturday to messages about the company settlement.
Wynn, now 82 and living in Florida, has said he has no remaining ties to his namesake company. He has consistently denied committing sexual misconduct.
The billionaire developer of a luxury casino empire in Las Vegas, Massachusetts, Mississippi and the Chinese gambling enclave of Macao resigned from Wynn Resorts after the reports became public, divested company shares and quit the corporate board.
Last year, in an agreement with Nevada gambling regulators, he agreed to cut links to the industry he helped shape in Las Vegas and pay a $10 million fine. He admitted no wrongdoing.
In 2019, the Nevada Gaming Commission fined Wynn Resorts a record $20 million for failing to investigate claims of sexual misconduct made against him before he resigned. Massachusetts gambling regulators fined the company and a top executive $35.5 million for failing to disclose the sexual misconduct allegations against Wynn while it applied for a license for its Encore Boston Harbor resort. The company made no admissions of wrongdoing.
Wynn Resorts agreed in November 2019 to accept $20 million in damages from Wynn and $21 million from insurance carriers to settle shareholder lawsuits accusing company directors of failing to disclose misconduct allegations.
The Justice Department said Friday that as part of its investigation, 15 people previously admitted money laundering, unlicensed money transmission or other crimes, paying criminal penalties of more than $7.5 million.
Wynn Resorts noted in its statement on Friday that its non-prosecution agreement with the government did not refer to money laundering.
Forget Nvidia: These 2 Stock-Split Stocks Could Be Better Buys
Stock splits don’t do anything to change the fundamentals of a business, but it’s not hard to see why some investors have been paying attention to them lately. By dividing its stock into a larger number of shares, a company brings the price per share down and makes investing more psychologically appealing and accessible for some investors. Sometimes, this can help power substantial valuation gains, but that’s not always the case.
On the heels of recent sell-offs, Nvidia stock is actually now trading below its closing price on the day of its 10-for-1 split in June. While the artificial intelligence (AI) leader could come roaring back, investors may want to diversify their positioning and look into some other stock-split investment opportunities.
With that in mind, read on to see why two Motley Fool contributors think that Super Micro Computer (NASDAQ: SMCI) and Williams-Sonoma (NYSE: WSM) are stock-split stocks that have attractive upside potential at today’s prices.
A contrarian bet on Super Micro Computer could have big payoffs
Keith Noonan: Super Micro Computer’s stock price has been highly volatile lately. The server technologies specialist had been riding high this year thanks to demand for AI processing, but the company’s share price tumbled in August after gross margins in its most recent quarterly report missed expectations. Soon after, Hindenburg Research published a short report on the company alleging serious issues with its accounting as well as fundamental business weakness. The very next day, Supermicro (as it is also known) announced that it was delaying the filing of its annual 10-K report.
Supermicro stock still trades up roughly 37% year to date, but the company’s share price is now down roughly 67% from its high set in March. Even with the valuation pullback, the stock is still headed for a 10-for-1 split that will become effective on Oct. 1. For risk-tolerant investors, buying Supermicro shares could be worthwhile on the heels of recent sell-offs.
Supermicro is coming off of fantastic growth in fiscal 2024 (ended June 30). Annual sales rose roughly 110% to hit $14.94 billion, and non-GAAP (adjusted) earnings per share rose 87% to $22.09 per share. Strong momentum looks poised to continue in the near term.
For the first quarter of fiscal 2025, Supermicro is guiding for sales to come in between $6 billion and $7 billion — good for growth of roughly 207% year over year at the midpoint of the guidance range. Meanwhile, adjusted earnings per share are projected to be between $6.69 per share and $8.27 per share — representing growth of 118% at the midpoint.
Supermicro stock trades at just 11.3 times this year’s expected earnings — a level that looks cheap even with the understanding that the business will be subject to cyclical demand trends and moderating sales and earnings momentum. Crucially, the company recently reaffirmed that it doesn’t expect to have any material revisions for the sales and earnings results it reported last year when it files its delayed 10-K report.
While there’s some uncertainty on the horizon, Supermicro’s dramatic valuation pullback could present a worthwhile entry point ahead of its stock split next month.
Short-term factors create a long-term opportunity
Jennifer Saibil: If you’re looking for a good investment deal, Williams-Sonoma stock is a great candidate on any day. A recent stock split just confirms that the company sees more good times ahead.
Williams-Sonoma stock split in two in July after gaining 136% in one year. However, it disappointed investors with its earnings update right after, and its stock trades down about 10% since the split. Fear not, though. This is a reaction to short-term factors and doesn’t discredit the long-term potential.
Just three months earlier, the company wowed investors with a strong first-quarter earnings report. It reported incredible profitability despite a sales decline, and that continued into the second fiscal quarter (ended July 30). However, this time, revenue and guidance came in below analyst expectations. The market ignored the positives in the quarter, including a 5.5 percentage-point increase year over year in gross margin to 46.2%, a 1.6 percentage-point increase in operating margin, and an 11% increase in earnings per share (EPS) of $1.74. Management lowered full-year revenue guidance but raised operating margin guidance to 18.2% at the midpoint.
Williams-Sonoma is operating in a tough environment. The housing market is still down in the dumps, and in general, shoppers are still holding off on non-essential and expensive purchases. In other words, that’s exactly what Williams-Sonoma sells. It targets an affluent, resilient customer, but even wealthier consumers are feeling inflation fatigue so late in the game, and Williams-Sonoma draws some of its business from the upper levels of the mass market. If the Federal Reserve does indeed lower interest rates later this month, Williams-Sonoma should easily bounce back.
The stock should bounce back as well, but right now, you can get it on sale. It trades at a price-to-earnings ratio of only 16, as compared with Nvidia’s 50, and it even pays a dividend while you wait for the stock to climb higher.
Should you invest $1,000 in Super Micro Computer right now?
Before you buy stock in Super Micro Computer, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Super Micro Computer wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Nvidia made this list on April 15, 2005… if you invested $1,000 at the time of our recommendation, you’d have $630,099!*
Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than quadrupled the return of S&P 500 since 2002*.
*Stock Advisor returns as of September 3, 2024
Jennifer Saibil has no position in any of the stocks mentioned. Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nvidia and Williams-Sonoma. The Motley Fool has a disclosure policy.
Forget Nvidia: These 2 Stock-Split Stocks Could Be Better Buys was originally published by The Motley Fool
MEI INVESTOR ALERT: Robbins Geller Rudman & Dowd LLP Files Class Action Lawsuit Against Methode Electronics, Inc. and Announces Opportunity for Investors with Substantial Losses to Lead Class Action Lawsuit
SAN DIEGO, Sept. 08, 2024 (GLOBE NEWSWIRE) — The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers of Methode Electronics, Inc. MEI common stock between June 23, 2022 and March 6, 2024, inclusive (the “Class Period”), have until October 25, 2024 to seek appointment as lead plaintiff of the Methode Electronics class action lawsuit. Captioned Salem v. Methode Electronics, Inc., No. 24-cv-07696 (N.D. Ill.), the Methode Electronics class action lawsuit charges Methode Electronics as well as certain of Methode Electronics’ top former executive officers with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Methode Electronics class action lawsuit, please provide your information here:
https://www.rgrdlaw.com/cases-methode-electronics-inc-class-action-lawsuit-mei.html
You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com.
CASE ALLEGATIONS: Methode Electronics designs, engineers, and produces mechatronic products for Original Equipment Manufacturers (“OEMs”).
The Methode Electronics class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Methode Electronics had lost highly skilled and experienced employees during the COVID-19 pandemic necessary to successfully complete Methode Electronics’ transition from its historic low mix, high volume production model to a high mix, low production model at its Monterrey facility; (ii) Methode Electronics’ attempts to replace its General Motors center console production with more diversified, specialized products for a wider array of vehicle manufacturers and OEMs, in particular in the electric vehicle (“EV”) space, had been plagued by production planning deficiencies, inventory shortages, vendor and supplier problems, and, ultimately, botched execution of Methode Electronics’ strategic plans; (iii) Methode Electronics’ manufacturing systems at its critical Monterrey facility suffered from a variety of logistical defects, such as improper system coding, shipping errors, erroneous delivery times, deficient quality control systems, and failures to timely and efficiently procure necessary raw materials; (iv) Methode Electronics had fallen substantially behind on the launch of new EV programs out of its Monterrey facility, preventing Methode Electronics from timely receiving revenue from new EV program awards; and (v) as a result, Methode Electronics was not on track to achieve the 2023 diluted earnings-per-share guidance or the 3-year 6% organic sales compound annual growth rate represented to investors and such estimates lacked a reasonable factual basis.
The plaintiff is represented by Robbins Geller, which has extensive experience in prosecuting investor class actions including actions involving financial fraud. You can view a copy of the complaint by clicking here.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Methode Electronics common stock during the Class Period to seek appointment as lead plaintiff in the Methode Electronics class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Methode Electronics class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Methode Electronics class action lawsuit. An investor’s ability to share in any potential future recovery of the Methode Electronics class action lawsuit is not dependent upon serving as lead plaintiff.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud cases. Our Firm has been #1 in the ISS Securities Class Action Services rankings for six out of the last ten years for securing the most monetary relief for investors. We recovered $6.6 billion for investors in securities-related class action cases – over $2.2 billion more than any other law firm in the last four years. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
https://www.rgrdlaw.com/services-litigation-securities-fraud.html
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Contact:
Robbins Geller Rudman & Dowd LLP
J.C. Sanchez, Jennifer N. Caringal
655 W. Broadway, Suite 1900, San Diego, CA 92101
800-449-4900
info@rgrdlaw.com
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Dude, maybe you should have gotten a Dell
This is The Takeaway from today’s Morning Brief, which you can sign up to receive in your inbox every morning along with:
Each week is full of surprises when you are involved in media.
I guess that’s part of the adrenaline-inducing rush of being in the game, so to speak.
To that end, I was personally surprised by two things this week.
One, not everyone 30 years old and under has heard of Compaq.
As a brief refresher, they made large desktop computers that once connected to a phone jack that connected to the wall that connected to this thing called the World Wide Web (or internet…).
Once all plugged in, you turned on the Compaq (the most popular model was the Compaq Presario) via a switch in the back, logged into something called an AOL (America Online) account, listened to loud techy noises come from the computer, and poof, you were magically connected to friends you just saw in school and complete strangers in faraway lands.
You then got to posting sad songs on your MySpace account because, chances are, you just broke up with your high school sweetheart for the ninth time in a week (or was that just me…).
Hewlett Packard, now split into PC maker HP Inc. (HPQ) and AI server play Hewlett Packard Enterprise (HPE), bought its rival Compaq for about $19 billion in a 2002 deal. (Also check out my recent chat with the CEO of HP and another chat with the CEO of Hewlett Packard Enterprise.)
HP went on to discontinue the Compaq brand in 2013.
That part of the history lesson done.
The next surprise for me this week is that not everyone under the age of 30 years old remembers the iconic “Dude, you are getting a Dell” TV commercials. These commercials dominated the airwaves when I was in college, and I would argue they put Dell on the map with consumers that barely knew how to use a computer.
I have no idea why the commercials left an impression, but they did.
All in all, these reminded me that I was now moving closer to being a grey-beard at work. I have no actual beard; it just means you are this elder statesman. Weird to be in that place, but you can’t outrun Father Time — even my bionic self. I envy the youth.
Having laid that all out, I actually have a surprise for YOU! That is, did you really know that Dell has totally transformed itself? Just read the company’s annual report here and keep scrolling below.
Dell was founded in 1984 by then-University of Texas student Michael Dell. It made PCs, a lot of them.
Through the years, the company has morphed into part PC maker, part tech player integral to the fabric of the world’s tech infrastructure. Think servers, storage, and other components for entire countries and companies that I won’t bore you listing.
The company is well beyond integrating its behemoth 2016 acquisition of EMC.
I got to spend 25 minutes with Michael Dell this week in NYC at the Citi TMT conference (video above) and was really blown away by what the company is working on. Was I surprised, full-stop? No, because I still read all of the company’s earnings reports and earnings call transcripts. But I was a little surprised to hear how deep the transformation runs at Dell.
On Friday, S&P Global announced that Dell will join the S&P 500, replacing Etsy, on Sept. 23. The move boosted its shares in extended trading, as the company will soon be in index funds that track the S&P 500.
It’s embarking on its latest transformation for the age of AI. Dell said it secured $3.1 billion of AI server sales in the second quarter, almost double the $1.7 billion netted in the preceding quarter.
Sales in the company’s Infrastructure Solutions Group surged 38% to $11.65 billion. AI sales are captured in this segment.
Dell’s Client Solutions Group — which includes sales of PCs and laptops — did see sales drop 4% to $12.41 billion. Consumer sales declined 22% to $1.86 billion, while the commercial business was flat at $10.6 billion.
Dell tells me the AI PC uptake has been pushed out a bit, but he has 200 million-plus Dell computers (aka the installed base). They will need the AI-powered replacements, and that cash will soon start rolling in.
“What organizations are seeing is this is a historic opportunity to make their businesses way more productive and efficient [with AI], while, at the same time, kind of reimagining them given all this capability,” Dell told me.
Another surprise — at least to me — is how cheap the company is being valued at by the market.
Shares of Dell trade on a 13.5x forward PE multiple, according to Yahoo Finance data, well below the S&P 500’s 22.5x. I am not saying the company should be valued on par with Nvidia (NVDA) or even a Salesforce (CRM). But assign Dell a reasonable 15x PE multiple on a reasonable $9.40 a share profit estimate for fiscal 2026 (which would represent about 20% earnings growth), and you have a $141 stock.
Dell’s stock currently trades at $107.
Head-scratching for a company clearly playing a key role in the AI future. Maybe it’s a function of its PC exposure.
Before I venture off to begin shopping for an AI PC, I’d like to note I will be live on Yahoo Finance Monday and Tuesday from the Goldman Sachs Communacopia + Technology Conference at the Palace hotel in San Francisco. This is one of my favorite conferences to cover each year, and we have a ton of big ticker-moving interviews lined up. So tune in, as your wealth could depend on it.
I am sure Dell will come up somewhere in the chats too, dude.
Three times each week, I field insight-filled conversations with the biggest names in business and markets on Yahoo Finance’s Opening Bid podcast. Find more episodes on our video hub. Watch on your preferred streaming service. Or listen and subscribe on Apple Podcasts, Spotify, or wherever you find your favorite podcasts.
In the Opening Bid episode below, State Street head of equity research Marija Veitmane reveals how she picks tech stocks with success for clients.
Brian Sozzi is Yahoo Finance’s Executive Editor. Follow Sozzi on X @BrianSozzi and on LinkedIn. Tips on deals, mergers, activist situations, or anything else? Email brian.sozzi@yahoofinance.com.
Click here for the latest technology news that will impact the stock market
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Zurich Cannabis Study Shows Positive First-Year Results, Approach Focused On Consumer Health
It’s been one year since the Zurich launched its cannabis study “Züri Can – Cannabis with Responsibility,” enabling adults to legally obtain marijuana products and the first results are positive. The study enabled people aged 18 and older to access THC-containing hash and flower products from approved outlets, including pharmacies, social clubs, and the Zurich Drug Information Center.
“Initial results show high satisfaction with the product and prevention offerings at distribution points,” read the press release issued jointly by the City of Zurich, the University of Zurich and the Psychiatric University Hospital Zurich.
City councilor Andreas Hauri, head of Zurich’s Department of Health and Environment, commented, “With ‘Züri Can – Cannabis with Responsibility,’ Zurich is taking a bold and innovative approach to drug policy. Our approach focuses on the health of consumers and shows that modern prevention efforts can go hand in hand with controlled access to cannabis products. We are delighted that the project has been so well-received and will provide valuable insights for future drug policy.”
Initial Results
The project, set to run until October 2026, currently has around 2,100 participants. Two percent of applications were rejected for health reasons. So far, around 150 participants have left the study for various reasons, such as failing to complete the biannual survey or deciding to stop using cannabis.
Per the report, more than half of the participants consume cannabis at least four times a week and most participants report good health. The distribution points offer advice and guidance, promoting safer consumption methods. Participants are satisfied with the services, as 90% rate the staff at the outlets as competent.
“Individual counseling on harm reduction and health promotion is particularly important. We are pleased that the free consultations are being well-received,” stated project manager Barbara Burri.
In the first 12 months, approximately 36,000 sales were made at the distribution points, amounting to around 300 kg of cannabis products sold. As many as 88% of participants are satisfied with the quality of the products offered. However, some participants expressed a desire for more variety and options. To meet this demand, four new flower products will be introduced in the second year, bringing the total to 13 cannabis products available.
Upcoming surveys will examine whether participants’ knowledge and behavior regarding safer consumption have improved and how their health and social situations evolve in the long term.
Read Next:
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Over $40M Bet On PBF Energy? Check Out These 4 Stocks Executives Are Buying
Although U.S. stocks closed mixed on Thursday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company’s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out Benzinga’s insider transactions platform.
PBF Energy
- The Trade: PBF Energy Inc. PBF 10% owner Control Empresarial de Capitales S.A. de C.V. acquired a total of 1,210,000 shares at an average price of $33.25. To acquire these shares, it cost around $40.2 million.
- What’s Happening: PBF Energy will release its earnings results for the third quarter 2024 on Thursday, Oct. 31.
- What PBF Energy Does: PBF Energy Inc is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States.
Talos Energy
- The Trade: Talos Energy Inc. TALO 10% owner Control Empresarial de Capitales S.A. de C.V. acquired a total of 2,397,000 shares at an average price of $11.08. To acquire these shares, it cost around $26.5 million.
- What’s Happening: The company disclosed that its Ewing Bank 953 well has successfully discovered commercial quantities of oil and natural gas.
- What Talos Energy Does: Talos Energy Inc is an independent oil and gas company predominantly involved in offshore exploration and production.
Cognex
- The Trade: Cognex Corporation CGNX SVP, Chief Financial Officer Dennis Fehr bought a total of 6,570 shares at an average price of $38.04. To acquire these shares, it cost around $249,920.
- What’s Happening: On July 31, Cognex reported mixed second-quarter financial results.
- What Cognex Does: Cognex Corp provides machine vision products that help automate manufacturing processes.
Lululemon Athletica
- The Trade: Lululemon Athletica Inc. LULU CEO Calvin McDonald bought a total of 4,000 shares at an average price of $260.00. The insider spent around $1.04 million to buy those shares.
- What’s Happening: On Aug. 29, Lululemon Athletica reported better-than-expected second-quarter EPS results.
- What Lululemon Athletica Does: Lululemon Athletica designs, distributes, and markets athletic apparel, footwear, and accessories for women, men, and girls.
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