Global Star Acquisition, Inc. - Right Stock (NASDAQ: GLSTR)

Latest News for Global Star Acquisition, Inc. - Right Stock (NASDAQ:GLSTR)

Global Star Acquisition, Inc. - Right

Southern California Edison and Lotus Infrastructure Partners today announced they were chosen by the California Independent System Operator (CAISO) to develop, permit, own, operate and maintain new transmission infrastructure that will deliver energy from renewable sources, such as utility-scale solar, wind and battery installations, to Southern California. The companies will build a high-voltage transmission line from Serrano Substation in north-central Orange County to a substation in the vicinity of the retired San Onofre Nuclear Generating Station (SONGS), largely utilizing existing rights of way for the line.

News

Reported Earlier, Southern California Edison And Lotus Infrastructure Partners Selected By CAISO To Build Major Transmission Project Between San Diego And Orange Counties

MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) co-founder and one of the biggest Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) advocates, Michael Saylor, deemed the King Crypto's recent surge as just the beginning, subtly hinting at its enormous potential.
What Happened: Saylor took to social platform X to remark, "The price of $BTC is still less than $0.08M." In other words it was less than $80,000.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The price of <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> is still less than $0.08M.
&mdash; Michael Saylor&#x26a1;&#xFE0F; (@saylor) <a href="https://twitter.com/saylor/status/1792700888332796278?ref_src=twsrc%5Etfw">May 20, 2024</a></blockquote>
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One of the biggest Bitcoin whales, Saylor cheered other proponents like him, many of whom believe in the cryptocurrency&#8217;s million-dollar potential.
Why It Matters: It is noteworthy that previously Saylor has made <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/37085524/with-a-1m-target-for-bitcoin-michael-saylor-reminds-everyone-that-btc-is-still-less-than-0">similar declarations</a>. In February, he reminded his followers on X that the value of Bitcoin was less than $0.05 million. His method of valuing the cryptocurrency in decimals underscores his belief in the asset&#8217;s upside.
He had previously said, &#8220;If Bitcoin is not going to zero then it&#8217;s going to $1 million. If it&#8217;s a legitimate institutional asset then everybody is under-allocated to it.&#8221;
Bitcoin came <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38930747/bitcoin-ethereum-dogecoin-shoot-up-on-one-of-the-best-days-for-crypto-in-2024-amid-ether-e">close to breaking its all-time high on Monday</a>, following a rip above $71,000 for the first time in 7 weeks. The prize digital asset was up 15% over the week, and more than 9% over the month, as investors' risk appetite for cryptocurrencies rose sharply.
Top analysts amped up their bullish expectations for the apex cryptocurrency following the launch of spot Bitcoin ETFs earlier this year. British multinational bank Standard Chartered <a href="https://x.com/CryptoAmb/status/1744636410509066625?s=20">forecasted </a>a surge to $100,000 by the end of the year, and close to $200,000 by the end of 2025.
These predictions appear conservative in comparison to former <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38754464/jack-dorsey-predicts-bitcoin-price-to-hit-at-least-1m-by-2030-hits-that-number-and-goes-be">Twitter Boss' Jack Dorsey's belief</a> in the cryptocurrency hitting $1 million by 2030 or <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38517674/cathie-wood-raises-her-bitcoin-prediction-by-2-3-million-what-1-000-invested-could-be-wort">Ark Invest CEO Cathie Wood's</a> $2.3 million bet by 2030.
Price Action: At the time of writing, Bitcoin was trading at $71,161.22, following a 7.60% increase in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;12gfrli&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNjI1MTA3NC4yMC4xLjE3MTYyNTY3NDUuMC4wLjA.">data from Benzinga Pro.</a> MicroStrategy shares closed Monday's trading session 9% higher at $1,727.24.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38931990/sec-chair-gary-gensler-mocked-by-popular-crypto-analyst-after-spot-ethereum-etf-progress-h">SEC Chair Gary Gensler Mocked By Popular Crypto Analyst After Spot Ethereum ETF Progress: &#8216;His Meltdown Would Be Historic&#8217;</a>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Markets

$BTC

MSTR

Micheal Saylor Says 'The Price Of BTC Is Still Less Than $0.08M' As King Crypto Within Touching Distance Of A New ATH

The new nonstop service would provide airline consumers with much-needed choices and competition on the DCA to LAS nonstop route that currently has only one flight per day operated by another airline. If awarded the route, Southwest&reg;&nbsp;projects significantly lower average fares from DCA to LAS, where Southwest offers more than 260 departures a day this summer, creating convenient connecting opportunities from LAS for communities across the western&nbsp;United States, including&nbsp;Hawaii.

Reported Earlier, Southwest Airlines Seeks U.S. Department Of Transportation's Approval For Daily Nonstop Service Between Washington National Airport And Las Vegas

The dividend will be payable on June 14, 2024 to shareholders of record as of June 3, 2024.

Dividends

Reported Earlier, Nicolet Bankshares Increases Quarterly Cash Dividend By 12% To $0.28, Payable June 14, 2024

The net proceeds to OBGC from the Offering are expected to be approximately $297 million, after deducting commissions but before offering expenses payable by OBGC. OBGC&#39;s obligations under the Notes will be guaranteed on a joint and several basis by Owens-Illinois Group, Inc. (&quot;OI Group&quot;) and certain U.S. domestic subsidiaries of OI Group that are guarantors under OI Group&#39;s credit agreement. The Offering is expected to close on May 30, 2024, subject to the satisfaction of customary closing conditions

Reported Earlier, Owens-Brockway Glass Container Prices Private Offering Of $300M  7.375% Senior Notes Offering Due 2032

ALVO

TEVA

Reported Earlier, Teva And Alvotech Announce U.S. Launch Of Simlandi (adalimumab-ryvk), The First Interchangeable High-Concentration, Citrate-Free Biosimilar To Humira

The Company intends to use the net proceeds from the Offering (i) to fund the $21.6 million cost of entering into the capped call transactions (as described below), (ii) to repurchase approximately $50 million of shares of common stock of Parent (&quot;Parent Common Stock&quot;) concurrently with the pricing of the offering of the Exchangeable Notes in privately negotiated transactions effected through one of the initial purchasers or its affiliates and (iii) for general corporate purposes.

Reported Earlier, Spectrum Brands Prices Private Offering Of $300M 3.375% New Exchangeable Senior Notes

SpaceX CEO Elon Musk on Monday reiterated his goal to have his satellite launch company <a href="https://www.benzinga.com/news/23/09/34196320/spacex-sets-new-annual-launch-record-with-62-successful-missions-this-year-aims-for-more-in-remainin">take over 90% of all of Earth&#8217;s payload to orbit</a> later this year while adding that competitors are free to copy the company and its products.
What Happened: &#8220;SpaceX might exceed 90% of all Earth payload to orbit later this year,&#8221; Musk wrote on X, formerly Twitter. &#8220;We file almost no patents, so nothing stopping competition from copying us.&#8221;
The CEO was responding to a report from analytics firm Bryce Tech which pegged the number of launches by SpaceX in the first quarter at 31, China&#8217;s China Aerospace Science and Technology Corporation&nbsp;(CASC) at 9, and Russia&#8217;s Roscosmos at 5.
As per the report, SpaceX launched about 429,125 kgs of spacecraft upmass in Q1, seconded by CASC after launching just 29,426 kgs. SpaceX&#8217;s American rival United Launch Alliance, meanwhile, launched only 1,285 kgs of spacecraft upmass in the quarter. ULA is a joint venture between Lockheed Martin and Boeing.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">SpaceX might exceed 90% of all Earth payload to orbit later this year. Once Starship is launching at high rate, probably &gt;99%. Has to be or we can't build a city on Mars or base on moon. We file almost no patents, so nothing stopping competition from copying us. <a href="https://t.co/XbisD1S5Wy">https://t.co/XbisD1S5Wy</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1792689139470704718?ref_src=twsrc%5Etfw">May 20, 2024</a></blockquote>
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Why It Matters: SpaceX&#8217;s goal of delivering 90% of Earth&#8217;s payload to orbit this year is higher than the 80% payload goal it set last year. SpaceX is also looking to <a href="https://www.benzinga.com/news/23/12/36250824/elon-musks-spacex-envisions-rapid-scaling-aiming-for-144-launches-in-2024">complete 144 launches this year.</a>
For the entirety of 2023, SpaceX only completed 96 launches, marking a 57% year-on-year increase, not including two Starship test flights. The company&#8217;s launch numbers have been steadily increasing, with 26 launches in 2020, 31 in 2021, and 61 in 2022.
Last week, SpaceX President&nbsp;Gwynne Shotwell&nbsp;confirmed on X that the company has<a href="https://www.benzinga.com/news/24/05/38836240/elon-musks-spacex-on-fire-50-launches-done-before-halfway-through-year-94-more-to-go"> already completed 50 missions</a> this year, not including the <a href="https://www.benzinga.com/news/24/03/37737774/starships-hour-long-third-flight-leaves-spacex-ceo-elon-musk-nasa-hopeful-despite-breakdown-over-ind">Starship test flight in March</a>.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More: <a href="https://www.benzinga.com/news/24/05/38916065/topgear-says-nearly-bankrupt-fiskers-ocean-arguably-better-built-than-teslas-blockbuster-model-y-but">TopGear Says Nearly Bankrupt Fisker's Ocean ‘Arguably Better Built' Than Tesla's Blockbuster Model Y — But Needs To Come With This Label</a>
Image Credit &#8211; SpaceX

SPACE

Tech

Elon Musk Hopeful Of SpaceX Launching Over 90% Of Earth's Payload To Orbit In 2024: 'Nothing Stopping Competition From Copying Us'

Tesla and SpaceX CEO Elon Musk has <a href="https://www.benzinga.com/news/24/02/37297493/elon-musk-slams-disneys-ad-spending-on-meta-amid-instagrams-child-exploitation-allegations">once again taken a swipe</a> at Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), questioning the advertising choices of companies, including Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>).
What Happened: On Monday, a user on X, formerly Twitter, shared the screenshot of a January 2024 news article titled &#8220;Meta documents show 100,000 kids sexually harassed daily on Facebook, Instagram.&#8221; The user then asked why companies like Disney choose to advertise on Mark Zuckerberg-led Meta and not on <a href="https://www.benzinga.com/news/23/04/31810229/elon-musk-bought-twitter-1-year-ago-a-look-back-at-whats-happened-since-and-what-could-be-next">Musk&#8217;s social media platform X</a>. 
In response, the tech billionaire said, &#8220;Disney is perhaps understandable, but why the others too.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/05/38910973/elon-musk-endorses-this-apple-product-as-great-and-no-its-not-iphone-or-vision-pro?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Endorses This Apple Product As &#8216;Great&#8217; — And, No It&#8217;s Not iPhone Or Vision Pro</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Disney is perhaps understandable, but why the others too
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1792754395597480199?ref_src=twsrc%5Etfw">May 21, 2024</a></blockquote>
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Why It Matters: This is not the first time Musk has <a href="https://www.benzinga.com/news/23/12/36165050/elon-musk-has-this-real-question-for-bob-iger-after-disney-halts-ads-on-x">criticized Disney&#8217;s decision</a> to advertise on Meta&#8217;s platforms. It all started in November 2023, when a controversial post by Musk sparked criticism from investors and advertisers. The post in question suggested that Jewish communities were promoting &#8220;hatred against whites,&#8221; to which Musk replied affirming the statement as &#8220;the actual truth.&#8221; 
This started a chain reaction and after International Business Machine <a href="https://www.benzinga.com/news/23/11/35842015/ibm-pulls-adverts-from-elon-musks-x-following-antisemitic-content-allegations">paused advertisements on X</a>, companies like Lions Gate Entertainment, Apple Inc., Oracle, and Disney also pulled the plug. Musk later expressed regret for engaging with the post, labeling it as &#8220;one of the most foolish&#8221; actions he&#8217;s taken on the platform. However, this apology did not reverse the damage completely. 
Since then, Musk has repeatedly targeted Disney CEO Iger and Meta Platforms. For instance, in February earlier this year, he questioned Disney&#8217;s ad spending on Meta amid Instagram&#8217;s child exploitation allegations. The tech mogul also called for <a href="https://www.benzinga.com/news/23/12/36138901/elon-musk-criticizes-real-stand-up-guy-bob-iger-says-disney-ceo-should-be-fired-immediately">Iger to be &#8220;fired immediately&#8221;</a> for continuing to advertise on Facebook and Instagram. 
The Tesla CEO has also been <a href="https://www.benzinga.com/news/24/04/38509476/while-mark-zuckerberg-led-meta-battles-advertiser-complaints-elon-musk-continues-to-thrash-facebook">critical of Zuckerberg&#8217;s Meta citing</a> allegations of Meta&#8217;s Instagram enabling child exploitation on the platform. In November also it was reported that Instagram was suggesting sexualized content of minors via Reels. At the time also, Musk provoked advertisers to take similar actions against Meta as they took with X.
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/05/38911195/tesla-ceo-elon-musk-gets-praise-for-launching-starlink-services-in-worlds-largest-archipelagic-natio?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla CEO Elon Musk Gets Praise For Launching Starlink Services In World&#8217;s Largest Archipelagic Nation Indonesia: &#8216;Changing The World One Day At A Time&#8217;</a>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Social Media

Elon Musk Says 'Understandable' Disney Advertises On Mark Zuckerberg's Meta But Questions Why Others Are Going Down The Same Path

COTY

Coty Announces €500M Senior Secured Notes Offering To Redeem Existing Notes And Repay Revolving Credit Facility

With U.S. stock futures trading mixed this morning on Tuesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Lowe&#8217;s Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) to report quarterly earnings at $2.93 per share on revenue of $21.10 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Lowe&#8217;s shares fell 0.2% to $228.70 in after-hours trading.</li>
<li>Palo Alto Networks, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>) posted better-than-expected earnings for its third quarter. The company said it sees fourth-quarter adjusted earnings of $1.40 to $1.42 per share on total revenue of $2.15 billion to $2.17 billion. Palo Alto shares dipped 8.6% to $295.89 in the after-hours trading session.</li>
<li>Analysts are expecting Macy&#8217;s, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) to post quarterly earnings at 14 cents per share on revenue of $4.85 billion. The company will release earnings before the markets open. Macy&#8217;s shares rose 0.1% to $19.12 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Zoom Video Communications Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>) reported stronger-than-expected earnings for its first quarter on Monday. The company said it sees fiscal second-quarter revenue in the range of $1.145 billion to $1.15 billion versus estimates of $1.15 billion. Zoom said it expects second-quarter adjusted earnings to be between $1.20 and $1.21 per share versus estimates of $1.23 per share. Zoom Video shares slipped 1.2% to $63.35 in the after-hours trading session.</li>
<li>Analysts expect Toll Brothers, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) to post quarterly earnings at $4.14 per share on revenue of $2.53 billion after the closing bell. Toll Brothers shares rose 0.01% to $131.07 in after-hours trading.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/05/38920102/jim-cramer-says-this-materials-stock-is-a-great-spec-plus-he-recommends-buying-abercrombie-fitch">Jim Cramer Says This Materials Stock Is A &#8216;Great Spec,&#8217; Plus He Recommends Buying Abercrombie &amp; Fitch</a>

Earnings

Pre-Market Outlook

Trading Ideas

PANW

Lowe's, Palo Alto Networks And 3 Stocks To Watch Heading Into Tuesday

The CNN Money Fear and Greed index showed some decline in the overall market sentiment, but the index remained in the &#8220;Greed&#8221; zone on Monday.
U.S. stocks settled mixed on Monday, with the Nasdaq index settling at a record high level during the session.
U.S. stocks notched gains last week, with the Dow gaining 1.2% to record its fifth consecutive weekly gain, while the S&amp;P 500 added 1.5% last week.
JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) shares fell 4.5% on Monday after CEO Jamie Dimon suggested the company would not buy back a lot of stock at current prices. NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares gained 2.5% after multiple analysts raised their price targets on the stock ahead of Wednesday's earnings report.
Most sectors on the S&amp;P 500 closed on a negative note, with consumer staples, consumer discretionary and financial stocks recording the biggest losses on Monday. However, information technology and communication services stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 197 points to 39,806.77 on Monday. The S&amp;P 500 rose 0.09% at 5,308.13, while the Nasdaq Composite gained 0.65% at 16,794.88 during Monday's session.
Investors are awaiting earnings results from Toll Brothers, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>), Macy&#8217;s, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>), and Lowe&#8217;s Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) today.
At a current reading of 64.2, the index remained in the &#8220;Greed&#8221; zone on Monday, versus a prior reading of 64.5.
What is CNN Business Fear &amp; Greed Index?
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.
Read Next: <a href="https://www.benzinga.com/news/24/05/38920102/jim-cramer-says-this-materials-stock-is-a-great-spec-plus-he-recommends-buying-abercrombie-fitch">Jim Cramer Says This Materials Stock Is A &#8216;Great Spec,&#8217; Plus He Recommends Buying Abercrombie &amp; Fitch</a>

NVDA

Investor Sentiment Decreases Slightly, But Nasdaq Settles At Record High

Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38923873/stocks-gold-reach-new-record-highs-cruise-stocks-rally-gamestop-sinks-whats-driving-markets-mond" rel="noreferrer noopener">diverged from broader market gains</a>&nbsp;on Monday, ending lower for the session. Fund manager and Tesla investor&nbsp;Gary Black&nbsp;tried to ease concerns about shareholders potentially rejecting the proposal to ratify CEO&nbsp;Elon Musk&#8216;s compensation plan.
What Happened:&nbsp;Addressing Tesla bulls worried about a possible shareholder rebuff and Musk leaving the company, Black said, &#8220;This is insane fear-mongering at its worst.&#8221; He expects shareholders to overwhelmingly&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38889994/why-cant-tesla-just-grant-elon-musk-a-new-pay-package-critic-and-legal-expert-says-ceo-cant-repl" rel="noreferrer noopener">approve the pay plan</a>&nbsp;in 2024, as 73% did in 2018.
In 2018, shareholders vetted the proposal before Tesla created eight times more value for its shareholders between 2018 and 2024, compared to the mere 1.6 times increase in the value of the Nasdaq 100 Index, he noted. &#8220;Just pay the man what is due him,&#8221; Black urged.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">All these nervous <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> bulls running around warning that shareholders may not approve Elon's 2028 comp plan, which could cause Elon to leave the company. This is insane fear-mongering at its worst. IMHO TSLA SHs will overwhelmingly approve Elon's comp plan in 2024, just as 73%… <a href="https://t.co/7cRcxti5gl">pic.twitter.com/7cRcxti5gl</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1792617814974443906?ref_src=twsrc%5Etfw">May 20, 2024</a></blockquote>
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See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/everything-you-need-to-know-about-tesla-stock" rel="noreferrer noopener">Everything You Need to Know About Tesla Stock</a>
Why It&#8217;s Important:&nbsp;Black&#8217;s&nbsp;Future Fund Active ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFND#NYSE">FFND</a>) holds about 1,842 Tesla shares, giving the stock a portfolio weighting of 2.77%.&nbsp;This&nbsp;is significantly lower than the 5%+ weighting Tesla had before March.
Black has voiced&nbsp;his&nbsp;dissent whenever he disagrees with management&#8217;s strategic direction and actions. He believes a sub-$30,000 electric vehicle is the solution to the company&#8217;s current demand problem, although management emphasizes full self-driving technology and robotaxis.&nbsp;He has also advocated&nbsp;for advertising the benefits of EV adoption&nbsp;to boost demand.
Tesla&#8217;s plan to seek approval for Musk&#8217;s 2018 compensation&nbsp;plan,&nbsp;after it was annulled by a Delaware Chancery&nbsp;Court,&nbsp;has met with mixed reactions.&nbsp;While legal experts warn that reapproval would mean payment for past work, Tesla fans have backed it, fearing Musk might follow through on his threats to leave.
In January,&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38910415/make-tesla-great-again-elon-musk-concurs-with-steps-to-transform-ev-maker-into-top-global-compan" rel="noreferrer noopener">Musk warned that</a>&nbsp;if he&nbsp;wasn&#8217;t&nbsp;vested with 25% voting rights in Tesla, he would prefer building elsewhere.
Price Action: Tesla ended Monday&#8217;s session down 1.41% at $174.95, according to&nbsp;<a target="_blank" href="https://benzinga.grsm.io/register174" rel="noreferrer noopener">Benzinga Pro data.</a>&nbsp;The stock has lost about 30% year-to-date.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/05/38907041/tesla-bull-gary-black-expects-ceo-elon-musks-56b-pay-package-to-be-reinstated-should-eliminate-any-p">Tesla Bull Gary Black Says &#8216;Likely&#8217; Approval Of Elon Musk&#8217;s $56B Pay Package Is &#8216;Next Major Catalyst&#8217; For The Company</a>
Photo via Shutterstock<a href="https://x.com/garyblack00/status/1792617814974443906/photo/1"></a>

Analyst Color

Equities

Management

FFND

TSLA

Tesla Bull Gary Black Dismisses 'Insane Fear-Mongering' Over CEO Elon Musk's Pay Plan: 'Just Pay The Man What Is Due To Him'

The contracts will be performed over a period of two years.

Contracts

ESLT

Elbit Systems Secures A Group Of Contracts Of ~$760M For The Supply Of Ammunitions To The Israeli Ministry Of Defense

Advanced Energy Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEIS#NASDAQ">AEIS</a>), a global leader in highly engineered, precision power conversion, measurement, and control solutions, today announced a possible offer of&nbsp;&pound;19.50 per share in cash&nbsp;to acquire the entire issued and to be issued shares of XP Power Limited (LSE: XPP,&quot;XP Power&quot;), after submitting three, all-cash, proposals to the Board of XP Power as set out below:
<ul>
<li>On October 24, 2023, at &pound;17.00 per share in cash, valuing XP Power&#39;s equity at &pound;339m;</li>
</ul>
<ul>
<li>On November 5, 2023, at &pound;18.50 per share in cash, valuing XP Power&#39;s equity at &pound;369m; and</li>
</ul>
<ul>
<li>On May 7, 2024, at &pound;19.50 per share in cash, valuing XP Power&#39;s equity at &pound;468m (the &quot;Latest Proposal&quot;) and reflecting the increased number of shares following XP Power&#39;s November 6, 2023 equity raise executed at &pound;11.50 per share (the &quot;Fundraising&quot;).</li>
</ul>
Each of these proposals has been at a significant premium to the share price at the time of each respective proposal, but the Board of XP Power unanimously rejected each of these proposals.

AEIS

Advanced Energy Announces £19.50 Per Share All-Cash Proposal To Acquire XP Power Limited

Scott Bessent, CEO of Key Square Group and a potential nominee for Trump's Treasury Secretary, shared his insights on market preferences ahead of the 2024 election. 
What Happened: On Monday, Bessent stated during CNBC&#8217;s &#8220;Last Call,&#8221; "With Donald Trump ahead in the polls, the market seems to like his policies better.&#8221;
"Right now we are in a nirvana situation where the market anchoring on Trump in the lead but [Janet] Yellen and the Biden apparatus also pushing against that lead"
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38908102/dogecoin-rises-4-45-amidst-anonymous-120-million-doge-transfer-to-robinhood?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Rises 4.45% Amidst Anonymous 120 Million DOGE Transfer To Robinhood</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"With Trump ahead in the polls, it seems that markets like his policies better," says Key Square Group CEO &amp; potential Trump Treasury Sec. nominee Scott Bessent on investing ahead of the 2024 election. "That would be tax cuts, energy independence, and calming down overseas." <a href="https://t.co/IJ1VEeU9JN">pic.twitter.com/IJ1VEeU9JN</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1792705246260506728?ref_src=twsrc%5Etfw">May 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Why It Matters: The Bloomberg/Morning Consult poll ,conducted recently, <a href="https://www.benzinga.com/news/24/05/38908073/trump-vs-biden-poll-reveals-surprise-preference-for-one-candidate-over-other-when-it-comes-to-econom">revealed that 51% of respondents</a> felt financially better off during Trump's presidency, despite the Biden administration overseeing significant economic growth and the best job market since the 1960s.
Trump's recent remarks at the <a href="https://www.benzinga.com/news/24/05/38909755/donald-trump-for-third-term-ex-president-floats-controversial-idea-at-nra-convention">National Rifle Association's annual meeting</a> also stirred speculation about a potential third-term bid. He drew parallels to Franklin D. Roosevelt's four-term presidency, which received a positive response from the audience.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38906790/bitcoin-price-predicted-to-rise-due-to-demand-and-supply-dynamics-says-analyst-as-k?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Price Predicted To Rise Due To &#8216;Demand And Supply Dynamics,&#8217; Says Analyst As King Crypto Rebounds 10% In Last 7 Days</a>
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 <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Pooja Rajkumari</a> 
 
 
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Politics

General

Trump's Potential Pick For Treasury Secretary Says 'Markets Like His Policies Better'

The cost of groceries in the U.S. has reached such heights that many Americans are resorting to debt to keep their kitchens stocked. This trend is causing financial instability for many households.
What Happened: A study conducted by the Urban Institute revealed that the rising prices of groceries, a consequence of overall inflation, have pushed many families to use their savings, credit cards, buy now, pay later installment programs, or payday loans to cover their grocery bills in 2023, <a href="https://www.cnbc.com/2024/05/20/americans-are-going-into-debt-to-buy-groceries-research-finds.html">reported</a> CNBC.
While these methods can provide temporary relief, they often lead to long-term financial instability. Kassandra Martinchek, a senior research associate at the Urban Institute, pointed out that despite the slowing rate of price increases, households are still spending more on groceries than they did the previous year. 
This suggests that many are relying on sources other than their income to meet their basic needs. "That might mean that folks are having to rely on liquidity sources other than their income to be able to meet their very basic needs, their food needs," she said.
The issue isn&#8217;t limited to the most financially vulnerable. Consumers across the board have been grappling with higher food prices since 2021, a struggle that has been exacerbated by the expiration of pandemic-era aid. 
The average individual&#8217;s Supplemental Nutrition Assistance Program benefits were reduced by approximately $90 per month after enhanced allotments expired in March 2023.
See Also: <a href="https://www.benzinga.com/markets/asia/24/05/38895805/china-goes-all-in-as-beijing-vows-to-buy-unsold-properties-chinese-stocks-rally-copper-hits-all-time?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">China Goes All In As Beijing Vows To Buy Unsold Properties: Chinese Stocks Rally, Copper Hits All-Time Highs</a>
About 70% of all grocery transactions are made using credit or debit cards, the research found. These payment methods carry risks, particularly for consumers who cannot pay off their balances in full. In 2023, the average annual percentage rates for credit cards rose to 22.8%, the highest rate on record.
Why It Matters: The current economic climate in the U.S. has been a topic of concern for some time. Jim Cramer, a prominent financial expert, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38179803/jim-cramer-weighs-in-on-feds-interest-rate-cut-plans-dont-hold-your-breath-this-eco">recently emphasized</a> the strength of the economy and advised investors not to expect swift rate cuts from the Federal Reserve. 
However, other experts, such as economist Mohamed El Erian, have <a href="https://www.benzinga.com/news/24/02/37355330/can-the-us-continue-to-be-a-driver-of-global-economic-growth-mohamed-el-erian-says-automaticity-of-a">expressed concerns</a> about the U.S. economy&#8217;s ability to sustain its growth momentum in the face of domestic political divisions and global uncertainties.
These concerns are reflected in the experiences of everyday Americans, as highlighted by investment strategist Luke Lloyd, who <a href="https://www.benzinga.com/general/24/03/37486449/the-middle-class-is-on-a-sinking-ship-investment-strategist-warns-the-american-dream-of-living-freel">warned about the erosion</a> of the American dream due to current economic policies.
Despite these challenges, there have been some positive signs, such as the recent <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38850154/economists-react-to-inflation-retail-sales-the-soft-landing-narrative-is-still-a-po">slowing of inflation</a> and weaker-than-expected consumer spending, which have bolstered rate-cut convictions among traders.
Read Next: <a href="https://www.benzinga.com/news/24/05/38909395/biden-advisor-defends-china-tariffs-silver-hits-11-year-high-jamie-dimon-warns-of-inflationary-force?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Biden Advisor Defends China Tariffs, Silver Hits 11-Year High, Jamie Dimon Warns Of Inflationary Forces</a>
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Global

Economics

Rising Prices Prompt Americans To Resort To Installment Plans, Pay-Day Loans To Keep Kitchens Stocked

Macy&#8217;s, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) is set to release earnings results for its first quarter, before the <a href="https://www.benzinga.com/quote/M/earnings">opening bell on May 21</a>.
Analysts expect the New York-based company to report quarterly earnings at 14 cents per share, down from 56 cents per share in the year-ago period. Macy&#8217;s is projected to report quarterly revenue of $4.85 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a>
On April 10, Macy's named Richard Clark and Richard L. Markee to Board of Directors.
Macy&#8217;s shares fell 2% to close at $19.10 on Monday.
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/M/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>JP Morgan analyst Matthew Boss maintained an Overweight rating and raised the price target from $23 to $25 on March 11. This analyst has an accuracy rate of 67%.</li>
<li>TD Cowen analyst Adam Maeder downgraded the stock from Outperform to Market Perform and slashed the price target from $23 to $20 on Feb. 29. This analyst has an accuracy rate of 68%.</li>
<li>Morgan Stanley analyst Alexandra Walvis maintained an Equal-Weight rating and cut the price target from $21 to $20 on Feb. 28. This analyst has an accuracy rate of 65%.</li>
<li>Goldman Sachs analyst Brooke Roach maintained a Buy rating and boosted the price target from $16 to $22 on Feb. 28. This analyst has an accuracy rate of 60%.</li>
<li>Citigroup analyst Paul Lejuez upgraded the stock from Sell to Neutral and raised the price target from $14 to $18 on Feb. 2. This analyst has an accuracy rate of 66%.</li>
</ul>
Read This Next: <a href="https://www.benzinga.com/news/24/05/38920102/jim-cramer-says-this-materials-stock-is-a-great-spec-plus-he-recommends-buying-abercrombie-fitch">Jim Cramer Says This Materials Stock Is A &#8216;Great Spec,&#8217; Plus He Recommends Buying Abercrombie &amp; Fitch</a>

Price Target

Macy's Likely To Report Lower Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

<ul>
<li>Launch of 20 new medicines expected by 2030</li>
<li>Significant growth from existing oncology, biopharmaceuticals and rare disease portfolios</li>
<li>Investing in disruptive innovation that will shape the future of medicine and drive long-term growth</li>
<li>Decoupling carbon emissions from revenue growth</li>
</ul>