Latest news for Edenred (OTC:EDNMY) Stock

Edenred is a France-listed prepaid corporate services provider operating in more than 40 countries. The company was listed in 2010 following a spinoff from hotel group Accor. Edenred's main business, Ticket Restaurant, offers prepaid meal vouchers that employers provide to their employees as an additional benefit. The company is also involved in other areas such as prepaid fuel cards and payment and expense-management systems.

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AllianzGI Convertible & Income 2024 Target Term Fund Common Shares of Beneficial Interest

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Stocks That Hit 52-Week Highs On Thursday

Edenred SE

Federal Reserve

Fed's Kugler Says Below 100,000 Monthly Job Gain Would Be 'Very Low,' Must Be Mindful Of Potential Downward Revisions; Breakeven Number For Monthly Job Gains Is Anywhere From 100k To 240k

Earnings

Jefferies Financial Q3 2024 Adj EPS $0.78, Inline

Telesis Bio Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TBIO#NASDAQ">TBIO</a>) shares are soaring in extended trading Wednesday after the company announced a partnership to <a href="https://www.benzinga.com/pressreleases/24/09/g41034251/telesis-bio-and-beckman-coulter-life-sciences-collaborate-to-revolutionize-dna-and-mrna-synthesis">revolutionize DNA and mRNA synthesis</a>.
What Happened: Telesis Bio reached a new partnership with laboratory automation and innovation company Beckman Coulter Life Sciences to create efficient and scalable biofoundries and deliver solutions for DNA synthesis.
The partnership will integrate Telesis Bio&#8217;s Gibson SOLA Enzymatic Synthesis technology with Beckman Coulter&#8217;s new Biomek Echo One System, further expanding its flexibility to synthesize biology.
&#8220;This partnership marks a significant milestone in advancing synthetic biology. By integrating Gibson SOLA&#8217;s high-fidelity, scalable, and non-toxic DNA synthesis capabilities with Beckman Coulter Life Sciences automation expertise, we are setting a new standard for on-premises biofoundries,&#8221; said Eric Esser, CEO of Telesis Bio.
&#8220;This collaboration empowers researchers to greatly improve productivity through faster, more reliable and innovative solutions, driving forward the next generation of therapeutic and diagnostic advancements.&#8221;
See Also: <a href="https://www.benzinga.com/news/earnings/24/09/41034733/micron-q4-earnings-revenue-eps-beat-on-robust-ai-demand-company-sees-significantly-improved-profita">Micron Q4 Earnings: Revenue, EPS Beat On &#8216;Robust AI Demand,&#8217; Company Sees &#8216;Significantly Improved&#8217; Profitability Ahead, Shares Surge</a>
Telesis Bio provides non-toxic, high-fidelity and scalable DNA synthesis, empowering scientists to create novel, synthetic biology-enabled solutions.
Telesis Bio is considered a low-float stock with approximately 406,000 shares available for public trading, according to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>. It also had a market cap of less than $5 million as of Wednesday&#8217;s close. Low-float, micro-cap stocks often trade with elevated volatility, which may help explain some of Telesis Bio&#8217;s massive move after the bell.
TBIO Price Action: <a href="http://benzinga.com/quote/tbio">Telesis Bio shares</a> were up 110.02% at $4.87 in after-hours trading Wednesday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
This illustration was generated using artificial intelligence via Midjourney.

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General

TBIO

Telesis Bio Stock Is Soaring Wednesday: What's Going On?

Micron CEO Says Demand From Data Center Customers Continues To Be Strong, And Customer Inventory Levels Are Healthy, Expect Healthier Inventories At PC OEMs By Spring 2025; Says Smartphone Unit Volumes On Track To Grow In The Low To Mid-Single-Digit Percentage Range In Calendar 2024

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Shares of semiconductor and chip stocks are trading higher following strong earnings from Micron.

WFMS is a joint venture that is owned 40% by a wholly owned subsidiary of the Company and 60% by Wells Fargo Bank.
The Company acquired its 40% ownership in WFMS through its 2019 merger with First Data Corporation. The joint venture is expected to expire on April&nbsp;1, 2025.
Upon expiration, the Company expects to receive a cash payment or assets equal to the value of its share of the joint venture, as determined in accordance with an agreed upon contractual valuation and separation process.
The Company estimates the impairment charge to be in the range of $400&nbsp;million to $600&nbsp;million.&nbsp;The Company does not expect the impairment to impact the Company&rsquo;s 2024 adjusted earnings per share because it is a&nbsp;non-cash&nbsp;impairment charge.
In addition, the Company does not expect to change its previously communicated medium-term performance outlook for 2025 and 2026 for organic revenue growth of&nbsp;9-12%&nbsp;or adjusted earnings per share growth of&nbsp;14-18%&nbsp;as a result of the expiration of the joint venture.

Guidance

Fiserv Expects To Record Non-cash Impairment Of Carrying Value Of Equity Method Investment In Wells Fargo Merchant Services JV In Q3; Does Not Expect Impairment To Impact 2024 Adjusted EPS - Filing

LUXH

For 2H, LuxUrban Hotels To Focus On Optimizing Revenue Management, Improving Cash Flow Profile And Enhancing Its Balance Sheet Through Strategic Initiatives Aimed At Strengthening Liquidity

Fed's Kugler Says Maybe Some Fed Policymakers Would Be Willing To Move Expected '25 Rate Cuts Forward To '24 Or Vice Versa, Depending On Data; We Don't Pay A Whole Lot Of Attention To The Neutral Rate Because There Is A Lot Of Uncertainty Around It

Financial giants have made a conspicuous bullish move on Merck &amp; Co. Our analysis of options history for Merck &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) revealed 9 unusual trades.
Delving into the details, we found 55% of traders were bullish, while 33% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $119,340, and 5 were calls, valued at $224,086.
<h3>Projected Price Targets</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $100.0 to $120.0 for Merck &amp; Co over the last 3 months. 
<h3>Volume &amp; Open Interest Trends</h3>
In today's trading context, the average open interest for options of Merck &amp; Co stands at 2075.86, with a total volume reaching 6,696.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Merck &amp; Co, situated within the strike price corridor from $100.0 to $120.0, throughout the last 30 days.
<h3>Merck &amp; Co Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727297131_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>MRK</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/19/25</td>
<td>$10.0</td>
<td>$9.85</td>
<td>$9.85</td>
<td>$120.00</td>
<td>$58.1K</td>
<td>1.2K</td>
<td>60</td>
</tr>
<tr>
<td>MRK</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$24.5</td>
<td>$20.0</td>
<td>$21.9</td>
<td>$100.00</td>
<td>$56.9K</td>
<td>318</td>
<td>26</td>
</tr>
<tr>
<td>MRK</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$0.99</td>
<td>$0.95</td>
<td>$0.95</td>
<td>$118.00</td>
<td>$44.4K</td>
<td>972</td>
<td>1.6K</td>
</tr>
<tr>
<td>MRK</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$0.9</td>
<td>$0.88</td>
<td>$0.9</td>
<td>$118.00</td>
<td>$36.9K</td>
<td>972</td>
<td>2.8K</td>
</tr>
<tr>
<td>MRK</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$3.35</td>
<td>$3.2</td>
<td>$3.35</td>
<td>$118.00</td>
<td>$34.8K</td>
<td>16</td>
<td>0</td>
</tr>
</tbody>
</table>

<h3>About Merck &amp; Co</h3>
Merck makes pharmaceutical products to treat several conditions in a number of therapeutic areas, including cardiometabolic disease, cancer, and infections. Within cancer, the firm's immuno-oncology platform is growing as a major contributor to overall sales. The company also has a substantial vaccine business, with treatments to prevent pediatric diseases as well as human papillomavirus, or HPV. Additionally, Merck sells animal health-related drugs. From a geographical perspective, just under half of the company's sales are generated in the United States.
After a thorough review of the options trading surrounding Merck &amp; Co, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Where Is Merck &amp; Co Standing Right Now?</h3>
<ul>
<li>With a volume of 7,899,351, the price of MRK is down -0.1% at $114.84. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 36 days.</li>
</ul>
<h3>What Analysts Are Saying About Merck &amp; Co</h3>
2 market experts have recently issued ratings for this stock, with a consensus target price of $155.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $155. 
&#x2A; An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $155. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Merck &amp; Co options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

This Is What Whales Are Betting On Merck & Co

Investors with a lot of money to spend have taken a bullish stance on Aurora Innovation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AUR#NASDAQ">AUR</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with AUR, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 10 uncommon options trades for Aurora Innovation.
This isn't normal.
The overall sentiment of these big-money traders is split between 80% bullish and 10%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $76,750, and 8 are calls, for a total amount of $601,410.
<h3>Expected Price Movements</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $5.5 and $10.0 for Aurora Innovation, spanning the last three months.
<h3>Volume &amp; Open Interest Development</h3>
In today's trading context, the average open interest for options of Aurora Innovation stands at 557.14, with a total volume reaching 42,184.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Aurora Innovation, situated within the strike price corridor from $5.5 to $10.0, throughout the last 30 days.
<h3>Aurora Innovation Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727297127_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>AUR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$1.7</td>
<td>$1.55</td>
<td>$1.6</td>
<td>$6.00</td>
<td>$160.0K</td>
<td>288</td>
<td>0</td>
</tr>
<tr>
<td>AUR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$0.65</td>
<td>$0.6</td>
<td>$0.65</td>
<td>$7.00</td>
<td>$135.7K</td>
<td>2.8K</td>
<td>9.2K</td>
</tr>
<tr>
<td>AUR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$0.6</td>
<td>$0.55</td>
<td>$0.55</td>
<td>$7.00</td>
<td>$84.0K</td>
<td>2.8K</td>
<td>5.4K</td>
</tr>
<tr>
<td>AUR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$0.75</td>
<td>$0.7</td>
<td>$0.74</td>
<td>$7.00</td>
<td>$74.0K</td>
<td>2.8K</td>
<td>10.4K</td>
</tr>
<tr>
<td>AUR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$1.75</td>
<td>$1.4</td>
<td>$1.73</td>
<td>$5.50</td>
<td>$49.3K</td>
<td>201</td>
<td>319</td>
</tr>
</tbody>
</table>

<h3>About Aurora Innovation</h3>
Aurora Innovation Inc is engaged in delivering self-driving technology safely, quickly, and broadly. The Aurora Driver is a self-driving system designed to operate multiple vehicle types, from freight-hauling trucks to ride-hailing passenger vehicles, and underpins Aurora Horizon and Aurora Connect, its driver-as-a-service products for trucking and ride-hailing. The Company is developing the Aurora Driver, an advanced and scalable suite of self-driving hardware, software and data services designed as a platform to adapt and interoperate amongst vehicle types and applications.
<h3>Current Position of Aurora Innovation</h3>
<ul>
<li>With a volume of 18,274,127, the price of AUR is up 2.54% at $6.46. </li>
<li>RSI indicators hint that the underlying stock may be overbought.</li>
<li>Next earnings are expected to be released in 35 days.</li>
</ul>
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Aurora Innovation with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Check Out What Whales Are Doing With AUR

Investors with a lot of money to spend have taken a bullish stance on Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with BAC, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 10 uncommon options trades for Bank of America.
This isn't normal.
The overall sentiment of these big-money traders is split between 80% bullish and 20%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $122,070, and 8 are calls, for a total amount of $463,848.
<h3>What's The Price Target?</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $30.0 to $45.0 for Bank of America during the past quarter. 
<h3>Volume &amp; Open Interest Development</h3>
In terms of liquidity and interest, the mean open interest for Bank of America options trades today is 4249.89 with a total volume of 10,871.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Bank of America's big money trades within a strike price range of $30.0 to $45.0 over the last 30 days.
<h3>Bank of America Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727297122_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>BAC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/19/25</td>
<td>$10.45</td>
<td>$10.3</td>
<td>$10.45</td>
<td>$30.00</td>
<td>$169.3K</td>
<td>448</td>
<td>162</td>
</tr>
<tr>
<td>BAC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/27/24</td>
<td>$0.23</td>
<td>$0.22</td>
<td>$0.23</td>
<td>$39.50</td>
<td>$69.0K</td>
<td>5.3K</td>
<td>7.5K</td>
</tr>
<tr>
<td>BAC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/04/24</td>
<td>$0.53</td>
<td>$0.52</td>
<td>$0.53</td>
<td>$39.00</td>
<td>$68.2K</td>
<td>741</td>
<td>1.7K</td>
</tr>
<tr>
<td>BAC</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$2.5</td>
<td>$2.49</td>
<td>$2.49</td>
<td>$40.00</td>
<td>$53.7K</td>
<td>8.7K</td>
<td>75</td>
</tr>
<tr>
<td>BAC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/15/27</td>
<td>$3.9</td>
<td>$3.65</td>
<td>$3.85</td>
<td>$45.00</td>
<td>$46.2K</td>
<td>107</td>
<td>120</td>
</tr>
</tbody>
</table>

<h3>About Bank of America</h3>
Bank of America is one of the largest financial institutions in the United States, with more than $3.0 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets. Bank of America's consumer-facing lines of business include its network of branches and deposit-gathering operations, retail lending products, credit and debit cards, and small-business services. The company's Merrill Lynch operations provide brokerage and wealth-management services, as does its private bank. Wholesale lines of business include investment banking, corporate and commercial real estate lending, and capital markets operations. Bank of America has operations in several countries but is primarily US-focused.
Following our analysis of the options activities associated with Bank of America, we pivot to a closer look at the company's own performance.
<h3>Present Market Standing of Bank of America</h3>
<ul>
<li>With a trading volume of 28,579,270, the price of BAC is down by -0.53%, reaching $39.24.</li>
<li>Current RSI values indicate that the stock is is currently neutral between overbought and oversold.</li>
<li>Next earnings report is scheduled for 20 days from now.</li>
</ul>
<h3>What Analysts Are Saying About Bank of America</h3>
1 market experts have recently issued ratings for this stock, with a consensus target price of $45.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Showing optimism, an analyst from Deutsche Bank upgrades its rating to Buy with a revised price target of $45. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Bank of America options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Decoding Bank of America's Options Activity: What's the Big Picture?

<a href="https://www.sec.gov/Archives/edgar/data/1341439/000119312524226101/d832142dfwp.htm">https://www.sec.gov/Archives/edgar/data/1341439/000119312524226101/d832142dfwp.htm</a>
&nbsp;

Offerings

ORCL

Oracle Corp Files For Offering Of $1.5B 4.200% Notes Due 2029

Dollar General Recommends Shareholders To Reject TRC Capital's Unsolicited "Mini-tender" Offer To Purchase Up To 1.50M Shares, Representing Less Than 1% Of Outstanding Common Stock At $82.20 Per Share

Southwest Airlines And Counsel To Implement Resolution From Special Litigation Committee Of Independent And Disinterested Directors

Fed's Kugler Says We Have Started To Recalibrate Rates; We Need To Continue Normalizing Rates

The shares will begin trading on the New York Stock Exchange on September 26, 2024 under the ticker symbol &quot;BKV,&quot; and the offering is expected to close on September 27, 2024, subject to customary closing conditions.

IPOs

Energy Company BKV Corp Reports Pricing Of Its IPO Of 15M Common Shares At $18.00 Per Share

Fed's Kugler Says Inflation Measures Ex-Housing Are Near 2%, But That's Not What We Target; We Are Making Very Good Progress, But Not At 2% Yet; I Don't See That We Will Overshoot On Inflation;  It Will Still Take Us Some Time To Get To 2% Inflation

LuxUrban Hotels (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUXH#NASDAQ">LUXH</a>) reported quarterly losses of $(0.41) per share which missed the analyst consensus estimate of $(0.12) by 241.67 percent. The company reported quarterly sales of $18.186 which missed the analyst consensus estimate of $26.350 million by 100.00 percent. This is a 100.00 percent decrease over sales of $31.861 million the same period last year.

Earnings Misses

LuxUrban Hotels Q2 2024 GAAP EPS $(0.41) Misses $(0.12) Estimate, Sales $18.186 Miss $26.350M Estimate

Fed's Kugler Says We're At A Place Where We Don't Want Labor Market To Weaken Further; Makes Since To Shift Attn To Employment Mandate

The Screen Actors Guild &#8211; American Federation of Television and Radio Artists (SAG-AFTRA) has announced a strike against League of Legends after accusing Formosa Interactive of attempting to undermine the ongoing <a href="https://www.benzinga.com/topic/gaming-industry">video game industry strike. </a>
<a href="https://www.gamesindustry.biz/sag-aftra-calls-strike-against-league-of-legends-files-unfair-labour-practice-against-formosa">According </a>to GamesIndustry.biz, The union, which represents actors in film, television, and video games, filed an unfair labor practice charge with the National Labor Relations Board (NLRB) against Formosa.
See Also: <a href="https://www.benzinga.com/general/gaming/24/07/40035765/sag-aftra-calls-video-game-strike-over-ai-concerns">SAG-AFTRA Calls Video Game Strike Over AI Concerns</a>
In a statement, SAG-AFTRA claimed that Formosa Interactive, which provides art and audio services to top-tier game studios, violated labor laws by secretly shifting work related to a struck video game to non-union performers. 
The union expressed that this action was "a flagrant violation of labor law" and that it directly interfered with performers&#8217; rights to unionize and participate in collective bargaining.
<h3 class="wp-block-heading">Union Claims Formosa Tried To Evade Strike Restrictions</h3>
The accusations emerged after Formosa allegedly attempted to "cancel" a video game that was part of the strike, later transferring the project to a shell company to avoid union restrictions. 
The union's national executive director and chief negotiator, Duncan Crabtree-Ireland, condemned the company's actions:
"To commit illegal unfair labor practices is beyond the pale and won't be tolerated by SAG-AFTRA members. Formosa will be held accountable, starting with an immediate strike of League of Legends."
Crabtree-Ireland said that Formosa&#8217;s actions were not only an attempt to sidestep union labor protections but also a reflection of ongoing resistance by companies to adopt AI-related terms similar to those already embraced by the film, television, and music industries.
SAG-AFTRA had previously voted to strike after failing to reach an agreement with gaming companies over AI protections and performers' working conditions. As the strike continues, the union has secured agreements with over 80 game developers, but the dispute with Formosa Interactive is one of the most significant challenges it has faced.
<h3 class="wp-block-heading">Riot Games Responds: &#8220;League Of Legends Is Not Involved&#8221;</h3>
In the wake of the accusations, Riot Games has responded, denying any involvement in the allegations made by SAG-AFTRA. In a statement provided to GamesIndustry.biz, Riot clarified that League of Legends has no connection to the events mentioned in the union's press release.
"League of Legends has nothing to do with the complaint mentioned in SAG-AFTRA's press release. We want to be clear: Since becoming a union project five years ago, League of Legends has only asked Formosa to engage with Union performers in the US and has never once suggested doing otherwise."
Riot further distanced itself from the controversy, explaining that the allegations pertain to a different game and are unrelated to any of its projects:
"We've never asked Formosa to cancel a game that we've registered. All the allegations in SAG-AFTRA's press release relating to canceling a game or hiring non-union talent relate to a non-Riot game, and have nothing to do with League or any of our games."
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/gaming/24/07/40023915/sag-aftra-strike-hits-video-game-industry-but-gta-6-remains-unaffected">SAG-AFTRA Strike Hits Video Game Industry, But GTA 6 Remains Unaffected</a></li>
</ul>
Image credits: Shutterstock.

Gaming

SAG-AFTRA Strikes League Of Legends Contractor, Riot Games Responds: 'LoL Has Nothing To Do With The Complaint'

Warning: EDNMY is at high risk of cutting its dividend

The financial services sector is poised for strong growth due to global economic trends and the adoption of advanced fintech solutions. However, not all financial stocks are positioned to benefit from these trends due to various challenges across the sector. Investors should be cautious of fundamentally weak stocks like UWM Holdings (UWMC), LendingClub (LC), and Edenred (EDNMY). Read on... The financial services sector benefits from the growing popularity of finance apps for budgeting, increased internet access, advanced fintech solutions, wider financial service availability, and favorable government policies. However, it also grapples with challenges like cybersecurity crises, regulatory shifts, possible mergers, and racial disparities in lending practices.
Therefore, I think fundamentally weak financial stocks UWM Holdings Corporation (<a href="https://stocknews.com/stock/UWMC/">UWMC</a>), LendingClub Corporation (<a href="https://stocknews.com/stock/LC/">LC</a>), and Edenred SE (<a href="https://stocknews.com/stock/EDNMY/">EDNMY</a>) might be best avoided now.
The global consumer finance market is poised to hit $1.96 trillion by 2029, growing at <a href="https://www.blueweaveconsulting.com/report/consumer-finance-market">7.1% CAGR</a>. Companies thrive by focusing on market reach, partnerships, and innovation. Advancements in AI, data analytics, blockchain, and cloud tech enhance services, risk management, and competitiveness, spurred by resilient consumer spending, income growth, and digital finance trends.
Meanwhile, the consumer financial services sector faces challenges like revenue pressure, stricter regulation, and heightened competition from digital newcomers. These difficulties were amplified by the COVID-19 crisis, resulting in substantial credit losses and increased strain on the banking sector, thus impacting the financial services sector as a whole.
Considering these trends, let's analyze the fundamental aspects of the three <a href="https://stocknews.com/category/consumer-finance/">Consumer Financial Services</a> stocks, starting with the third choice.
Stock #3: UWM Holdings Corporation (<a href="https://stocknews.com/stock/UWMC/">UWMC</a>)
UWMC engages in the residential mortgage lending business in the United States. The company offers mortgage loans through a wholesale channel. It primarily originates conforming and government loans.
In terms of the trailing 12-month net income margin, UWMC's 0.33% is 98.6% lower than the industry average of 23%. Likewise, its trailing 12-month <a href="https://www.investopedia.com/terms/r/returnonequity.asp">Return on Common Equity</a> and Return on Total Capital of 6.26% and 3.36% are 41.2% and 51.3% lower than the industry averages of 10.65% and 6.90%, respectively.
During the first quarter ended March 31, 2024, UWMC's total expenses stood at $385.69 million, increased 28.2% year-over-year. As of March 31, 2024, UWMC's total liabilities stood at $10.34 billion, compared to $8.07 billion as of March 31, 2023. Also, its cash and cash equivalents stood at $605.64 million, compared to $740.06 million for the same period.
For the quarter ending June 30, 2024, UWMC's EPS is expected to decrease 10.5% year-over-year to $0.07. Its revenue for the same quarter is expected to decrease 8.1% year-over-year to $539.74 million. UWMC's stock has declined 2.8% year-to-date to close the last trading session at $6.95.
UWMC's weak fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. It has an overall rating of F, equating to a Strong Sell in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
It has a D grade for Value, Stability, Sentiment, and Quality. It is ranked last out of 44 stocks in the <a href="https://stocknews.com/category/consumer-finance/">Consumer Financial Services</a> industry. To see UWMC's Growth, and Momentum ratings, <a href="https://stocknews.com/stock/UWMC/">click here</a>.
Stock #2: LendingClub Corporation (<a href="https://stocknews.com/stock/LC/">LC</a>)
LC operates as a bank holding company that provides a range of financial products and services in the United States. It offers deposit products, including savings accounts, checking accounts, and certificates of deposit.
In terms of the trailing 12-month EBIT margin, LC's 5.14% is 77.82% lower than the industry average of 23.15%. Its 0.12x trailing-12-month asset turnover ratio is 43.6% lower than the industry average of 0.22x. Also, the stock's 23.99% trailing-12-month gross profit margin is 59.7% lower than the industry average of 59.44%.
LC's total revenues for the fiscal first quarter ended March 31, 2024, amounted to $180.69 million, down 26.5% year-over-year. Likewise, its net income and EPS decreased 10.4% and 15.4% over the prior-year quarter to $12.25 million and $0.11, respectively. Moreover, as of March 31, 2024, LC's total liabilities stood at $7.98 billion, compared to $7.58 billion as of December 31, 2023.
Analysts expect LC's EPS and revenue for the quarter ending June 30, 2024, to decrease 58.3% and 23.7% year-over-year, reaching $0.04 and $177.49 million, respectively. Shares of LC has declined 3.3% intraday to close the last trading session at $8.98.
LC's grim outlook justifies its overall rating of D, which translates to a Sell in our proprietary POWR Ratings system.
It has a D grade for Growth, and Quality. Within the same industry, it is ranked #42. Beyond what we have stated above, we also have given LC grades for Value, Momentum, Stability, and Sentiment. Get all the LC ratings <a href="https://stocknews.com/stock/LC/">here</a>.
Stock #1: Edenred SE (<a href="https://stocknews.com/stock/EDNMY/">EDNMY</a>)
Headquartered in Issy-les-Moulineaux, France, Edenred SE provides a digital platform for services and payments for companies, employees, and merchants worldwide.
In terms of the trailing 12-month gross profit margin, EDNMY's 41.19% is 30.7% lower than the industry average of 59.44%. Similarly, EDNMY's 0.19x trailing-12-month asset turnover ratio is 12.8% lower than the industry average of 0.22x. Also, its 11.55% trailing-12-month net income margin is 498% lower than the industry average of 23%.
For the fiscal ended December 31, 2023, EDNMY's total revenue amounted to €2.51 billion ($2.72 billion). The company's net profit and EPS amounted to €308 million ($333.47 million) and €1.01, respectively, representing a decrease of 26.1% and 30.8% from the previous year's period.
Furthermore, as of December 31, 2023, EDNMY's total current liabilities came in at €9.72 billion ($10.53 billion), compared to €8.50 billion ($9.20 billion) as of December 31, 2022.
Over the past year, the stock has declined 25.6% to close the last trading session at $24.55.
EDNMY's bleak prospects are reflected in its POWR Ratings. It has an overall rating of D, equating to a Sell in our proprietary rating system.
It is ranked #41 in the Consumer Financial Services industry. It has a D grade for Growth, and Value. To access EDNMY's grades for Momentum, Stability, Sentiment, and Quality, <a href="https://stocknews.com/stock/EDNMY/">click here</a>.
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.
<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>

<hr />
EDNMY shares were trading at $24.42 per share on Friday morning, down $0.13 (-0.53%). Year-to-date, EDNMY has declined -17.78%, versus a 11.70% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Abhishek Bhuyan</h2> <img src='https:/wp-content/uploads/2023/07/ABhuyan.jpg' style="float:left; padding:5px;width:125px;">Abhishek embarked on his professional journey as a financial journalist due to his keen interest in discerning the fundamental factors that influence the future performance of financial instruments.<a href="https://stocknews.com/authors/?author=abhishek-bhuyan">More...</a>The post <a href=https://stocknews.com/news/ednmy-uwmc-lc-investors-beware-3-financial-stocks/>Investors Beware: 3 Financial Stocks</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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