Over the last few years, DraftKings (DKNG) has positioned itself as the clear leader in America’s digital gaming revolution, with its stock soaring well over 100% year-to-date towards a market capitalization of $35 billion. Despite some recent headwinds, the acceleration of sports betting legalization across the U.S. makes me highly bullish on the company’s future prospects. Don't Miss our Black Friday Offers: Unlock your investing potential with TipRanks Premium - Now At 40% OFF! Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter Revenue Growth Accelerates Past Expectations I’m encouraged to see DraftKings continue its exceptional momentum, with Q3 2024 revenue surpassing $1 billion, a remarkable 39% increase from $790 million in the previous year. This rate significantly outpaces competitors in the broader gaming industry, strongly reinforcing my bullish outlook. Moreover, the company boasts some impressively robust fundamentals, with $878 million in cash and a relatively modest debt level of $1.34 billion when compared to market capitalization. This provides plenty of resources for continued expansion and support for any unseen challenges. A resilient balance sheet is one of the green flags I look for in a company looking to capitalize on new market opportunities, so I’m fairly confident that this growth story can continue. Looking ahead, DraftKings projects impressive growth for the coming year, with revenue expected to reach between $6.2-$6.6 billion, representing 27-35% growth from 2024’s guidance midpoint of $4.9 billion. User Base Expands Dramatically The platform’s popularity continues to surge, with Monthly Unique Payers (MUPs) jumping to 3.6 million, up significantly from 2.3 million last year. This 57% increase demonstrates an impressive ability to attract and retain customers. I place real value on the first-mover advantage the company has across many states, where many customers will likely stay loyal to the brand long after competition moves in, especially where the experience is enjoyable, accessible, and overwhelmingly positive. Average Revenue per Monthly Unique Payer (ARPMUP) is clearly a critical indicator for management. This has now reached $103, demonstrating the company’s ability to monetize its user base effectively. When excluding recent acquisitions, ARPMUP increased 8% year-over-year to $122, demonstrating significant improvements in the monetization of the core platform. Technology Innovation Drives Market Leadership For me, the company’s interface and user experience is unmatched. Recent recognition as the number one U.S. Mobile Sportsbook App highlights this, with the platform ranking first in key categories, including User Experience, Betting Interface, and overall Features. Management has clearly prioritized and invested heavily in product enhancement for the most popular sports on the platform, particularly in NBA betting markets, where it now develops and powers all player prop and derivative markets in-house. This opens up the potential for further analysis and greater flexibility for new product offerings. The live betting experience has also undergone significant upgrades, with new features including real-time trending bets and new ‘micro-betting’ capabilities. Users now benefit from integrated real-time scores, statistics, and enhanced live content, creating a more engaging and informed betting experience. I suspect such investments may help to cement the company as the obvious destination for sports fans going forward. Wall Street Endorses DKNG’s Growth Strategy Wall Street’s enthusiasm mirrors my own bullish stance, with analysts generally on a Strong Buy consensus based on 25 Buy ratings and only 3 Hold ratings. Furthermore, the average DKNG price target of $50.20 per share implies 15.3% upside from the current level. See more DKNG analyst ratings In addition, several prominent firms have recently raised their price targets, with TD Cowen increasing to $55 from $50 and Barclays raising to $50 from $45. Temporary Headwinds Create Opportunity I’m clearly very bullish on this one, but the share price has admittedly suffered a few bumps in the road as of late. Some recent NFL outcomes have negatively hit revenues, with the latest quarter seeing the most customer-friendly stretch in company history. For this, companies tend to look at the Hold Percentage, which shows the percentage that the company expects to retain from the total amount wagered by bettors. The company’s own analysis of NFL Hold Percentages shows that these recent results are outliers compared to the typical performance over the past two years, suggesting a likely return to normalized rates in future periods. As a result, I tend to view these as statistical anomalies rather than structural issues within the company’s betting algorithms. Such an outcome could be viewed as a positive in the long run, with increased returns boosting enthusiasm for the platform, retaining customers, and building the market further. Rising Acquisition Costs Will Likely Be Overcome Another potential headwind to keep one eye on is the competitive landscape. As many would expect from such a potentially lucrative sector, established gaming companies and new entrants are looking to capture market share. As a result, DraftKings has experienced some increases in the price of acquiring customers over the last year, potentially as the latest wave of excitement and enthusiasm for sports betting fades. However, this is likely to be experienced by all involved in the sector. Fortunately for investors, I’d expect DraftKings’ technological edge, robust balance sheet, and market leadership to position it well to overcome these challenges as these cycles inevitably continue. DraftKings Presents a Highly Compelling Opportunity From my perspective, DraftKings presents a highly compelling opportunity. Clearly, the ongoing state-by-state legalization of sports betting provides a solid stream of growth opportunities. With management demonstrating strong execution capability and rapidly improving financials, to me, DraftKings remains very well-positioned to capitalize, particularly as sports betting gains mainstream acceptance. The combination of first-mover advantage, robust user growth, and a compelling platform experience sets DraftKings aside from the competition. While some near-term volatility may persist, the company’s strong fundamentals in this market with enormous potential suggest this is definitely one to watch over the coming years. Disclosure
Indiana got what it wanted Tuesday night in a 97-71 rout of Sam Houston State -- a lopsided victory where its bench played well and it didn't have to go down to the wire. The Hoosiers will look for more of the same Friday night in Bloomington when they continue their homestand against nonconference foe Miami (Ohio). Four players scored in double figures for Indiana (6-2) against the Bearkats, including 18 from reserve Luke Goode. The Illinois transfer hit four 3-pointers in less than four minutes of the first half, enabling the Hoosiers to take a 34-12 lead. Led by Goode, Indiana's bench contributed a whopping 36 points. "I thought it was a total team effort on everybody's part," Hoosiers coach Mike Woodson said. "Helps when your bench come off and play the way they did. Goode was fantastic but everybody off the bench played well." Indiana also got an encouraging 19-point performance from point guard Myles Rice, who struggled a bit in the first seven games in terms of making shots and running the offense. Rice (11.1 ppg) is one of four double-figure scorers in an attack led by Mackenzie Mgbako (16.8). Meanwhile, the RedHawks (5-2) are coming off a 73-60 home win Monday against Air Force. Bellarmine transfer Peter Suder poured in a career-high 42 points on 17-of-21 shooting, the highest-scoring game in program history since Wally Szczerbiak scored 43 in 1999. Suder, who averaged 10.5 ppg as a sophomore last season, is up to 17.4 ppg this season. He's hitting 58.8 percent of his field goals while also chipping in 4.0 rebounds, 3.0 assists and 1.6 steals. "I always say players win games, man. Coaches lose games," Miami coach Travis Steele told the Journal-News. "Peter was phenomenal. It was just get out of the way and just let him go." Forward Kam Craft, who Steele landed out of high school when he was still coaching at Xavier, is the RedHawks' second-leading scorer at 14.1 ppg. The Hoosiers have won 22 of the previous 25 meetings, including an 86-56 rout two years ago in Indianapolis. --Field Level MediaStocks jumped at Monday's open and bond yields retreated as markets welcomed President-elect Donald Trump's nomination of Scott Bessent to be his Treasury secretary. The Dow Jones Industrial Average closed at a new all-time high and the S&P 500 hit a new intraday high early in the opening session of a holiday-shortened week highlighted by a packed economic calendar. In a Friday evening post on Truth Social , Trump described Bessent, the former chief investment strategist of Soros Fund Management, as "one of the world's foremost international investors and geopolitical and economic strategists." The president-elect added, "Scott's story is that of the American Dream." Bessent is also the co-founder of Key Square Group, a macro-focused investment firm that specializes in analyzing economic, political and market conditions to trade across asset classes, including currencies and interest rates as well as commodities and stocks. Subscribe to Kiplinger’s Personal Finance Be a smarter, better informed investor. Sign up for Kiplinger’s Free E-Newsletters Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail. Profit and prosper with the best of expert advice - straight to your e-mail. Wall Street is positive about Bessent because of his success as an investor and for the moderating influence he is expected to exert within the Trump administration. In a November 15 op-ed for Fox News on the subject of Trump's primary tool of economic policy, Bessent writes, "The truth is that tariffs have a long and storied history as both a revenue-raising tool and a way of protecting strategically important industries in the U.S. President-elect Trump has added a third leg to the stool: tariffs as a negotiating tool with our trading partners." "The nomination of Scott Bessent to be U.S. Treasury Secretary has been a catalyst for lower bond yields, higher equity indices and a weaker dollar this morning," writes Kit Juckes , chief forex strategist at Societe Generale. The nomination is a palliative for investors "worried about the size of the U.S. budget deficit and the inflationary impact of tariffs. Whether he can help get the U.S. to 3% GDP growth and a 3% budget deficit time will tell, but for now, he has changed the market mood, if nothing else," Juckes concludes. The yield on the 10-year U.S. Treasury note declined by 15 basis points to 4.27%, while the yield on the 2-year dipped 10 basis points to 4.27%. The Dow backed off its intraday high but still closed at a record level, rising 1% to 44,736. The S&P 500 also slipped from its intraday high but held on for a 0.3% gain to 5,987. The Nasdaq Composite , meanwhile, edged up 0.3% to 19,054. Stocks on the move Earnings season is nearing an end, with 95% of the S&P 500 having reported so far. FactSet Senior Earnings Analyst John Butters notes that with numbers from 462 of the firms in the index, 75% have reported positive earnings per share (EPS) surprises and 61% have reported positive revenue surprises. "For Q3 2024," Butters writes, "the blended (year-over-year) earnings growth rate for the S&P 500 is 5.8%. If 5.8% is the actual growth rate for the quarter, it will mark the 5th straight quarter of year-over-year earnings growth for the index." Bath & Body Works ( BBWI ) was deleted from S&P 500 on October 1, but the stock surged 16.5% after the specialty retailer beat top- and bottom-line expectations for its third quarter and raised its full-year outlook. "Our strong results exceeded the high end of our net sales and earnings per diluted share guidance," said Bath & Body Works CEO Gina Boswell in a statement. "As a result, we are raising our full-year guidance to fully reflect this outperformance." Wall Street remains optimistic about BBWI. According to S&P Global Market Intelligence , the consensus recommendation is Buy, and the average 12-month price target for the consumer discretionary stock is $42.76. Even after Monday's strong showing that's about 20% upside. Macy's ( M ) stock, which was removed from the S&P 500 in April 2020, fell 2.3% after the retailer announced preliminary results for its third quarter, during which sales declined 2.4% year over year. Macy's also announced a delay in filing its quarterly statement with the Securities and Exchange Commission (SEC) after management "identified an issue related to delivery expenses in one of its accrual accounts." Macy's determined a single employee "intentionally made erroneous accounting accrual entries to hide approximately $132 to $154 million of cumulative delivery expenses." The big picture remains murky for the iconic retailer. "It has major disadvantages vs peers around price, product, and service," writes UBS Global Research analyst Jay Sole in a November 18 note. "We believe these dynamics should lead to continuous net losses. M's current stock price does not reflect long-term earnings-per-share challenges, in our view." Incoming data With third-quarter earnings season winding down, investors have a packed economic calendar to capture their attention this week. Note that markets will be closed on Thursday and will shut down early on Friday for the Thanksgiving holiday. Tuesday's releases include the S&P CoreLogic Case-Shiller Home Price Indices at 9 am Eastern time as well as a consumer confidence survey from The Conference Board and new home sales data from the Census Bureau at 10 am. The Federal Reserve will publish the minutes from the November FOMC meeting at 2 pm. And it's a particularly big Wednesday, with initial jobless claims coming in a day early because of the holiday on Thursday. We'll also see data on durable goods orders, retail and wholesale inventories, the U.S. trade balance and the second read on third-quarter GDP. The main event is the release of the Personal Consumption and Expenditures Price Index (PCE) series at 10 am. PCE is the Fed's preferred measure of inflation . "Based on the depth and breadth of the transitions in progress at this time in monetary policy, on Capitol Hill and in the change of Administration along with what appears to be a watershed period in technological innovation, some market participants can't help but wonder if they should be adjusting their portfolio exposures for a myriad of outcomes espoused by various market pundits with widely divergent views and opinions," writes John Stoltzfus of Oppenheimer Asset Management. "For one, while the pace of inflation appears to be slowing enabling the Fed to move towards more rate cuts in the months ahead," Stoltzfus observes, "the latest CPI numbers showed some inflation stickiness that has proved irksome to those with great expectations for more frequent and deeper interest rate cuts." According to the CME FedWatch tool, as of Monday afternoon, there is a 55.9% chance the Federal Open Market Committee cuts the target range for the federal funds rate by 25 basis points at its December 18 meeting. Related content Stock Picks That Billionaires Love Best Bond Funds to Buy Now Six Ways Trump Could Change Your Retirement
ALEXANDRIA, Va. (AP) — Google, already facing a possible breakup of the company over its ubiquitous search engine , is fighting to beat back another attack by the U.S. Department of Justice alleging monopolistic conduct, this time over technology that puts online advertising in front of consumers. The Justice Department and Google made closing arguments Monday in a trial alleging Google's advertising technology constitutes an illegal monopoly. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.
Ruben Amorim’s mark out of ten for Man Utd stars at Ipswich revealed with players left in no doubt about tough job aheadNYT Strands today — hints, spangram and answers for game #267 (Sunday, November 25 2024)
Washington, Nov 26 (AP) Special counsel Jack Smith has moved to abandon two criminal cases against Donald Trump, acknowledging that Trump's return to the White House will preclude attempts to federally prosecute him for retaining classified documents or trying to overturn his 2020 election defeat. The decision was inevitable, since longstanding Justice Department policy says sitting presidents cannot face criminal prosecution. Yet it was still a momentous finale to an unprecedented chapter in political and law enforcement history, as federal officials attempted to hold accountable a former president while he was simultaneously running for another term. In court filings on Monday, Smith's team emphasised that the move to abandon their prosecutions was not a reflection of the merit of the cases but a recognition of the legal shield that surrounds any commander in chief. "That prohibition is categorical and does not turn on the gravity of the crimes charged, the strength of the Government's proof, or the merits of the prosecution, which the Government stands fully behind," the prosecutors wrote in one of their filings. Smith's team said it was leaving intact charges against two co-defendants in the classified documents case — Trump valet Walt Nauta and Mar-a-Lago property manager Carlos De Oliveira — because "no principle of temporary immunity applies to them". Steven Cheung, Trump's incoming White House communications director, welcomed the decision to drop the prosecutions against the president-elect, describing it as a "major victory for the rule of law". "The American People and President Trump want an immediate end to the political weaponization of our justice system and we look forward to uniting our country," Cheung said in a statement. Trump has long described the investigations as politically motivated, and he has vowed to fire Smith as soon as he takes office in January. Now he will re-enter the White House free from criminal scrutiny by the government that he will lead. The election case brought last year was once seen as one of the most serious legal threats facing Trump as he tried to reclaim the White House. He was indicted for plotting to overturn his defeat to Joe Biden in 2020, an effort that climaxed with his supporters' violent attack on the U.S. Capitol on January 6, 2021. But the case quickly stalled amid legal fighting over Trump's sweeping claims of immunity from prosecution for acts he took while in the White House. The US Supreme Court in July ruled for the first time that former presidents have broad immunity from prosecution, and sent the case back to US District Judge Tanya Chutkan to determine which allegations in the indictment, if any, could proceed to trial. The case was just beginning to pick up steam again in the trial court in the weeks leading up to this year's election. Smith's team in October filed a lengthy brief laying out new evidence they planned to use against him at trial, accusing him of "resorting to crimes" in an increasingly desperate effort to overturn the will of voters after he lost to Biden. The separate case involving classified documents had been widely seen as legally clear cut, especially because the conduct in question occurred after Trump left the White House and lost the powers of the presidency. The indictment included dozens of felony counts accusing him of illegally hoarding classified records from his presidency at his Mar-a-Lago estate in Palm Beach, Florida, and obstructing federal efforts to get them back. He has pleaded not guilty and denied wrongdoing. The case quickly became snarled by delays, with US District Judge Aileen Cannon slow to issue rulings — which favoured Trump's strategy of pushing off deadlines in all his criminal cases — while also entertaining defense motions and arguments that experts said other judges would have dispensed with without hearings. In May, she indefinitely cancelled the trial date amid a series of unresolved legal issues before dismissing the case outright two months later. Smith's team appealed the decision, but now has given up that effort. (AP) DIV DIV (This story has not been edited by THE WEEK and is auto-generated from PTI)
Georgian President Calls Parliament 'Illegitimate' As U.S. Suspends 'Strategic Partnership'In election shock, Romanian far-right NATO critic set for presidential contest
Calumet City aldermen dismiss Mayor Thaddeus Jones’ case against Clerk Nyota FiggsVasko's 4 TDs power Coastal Carolina past Georgia State 48-27 to become bowl eligibleBUCHAREST (Reuters) -A hard-right critic of NATO who has praised Russia is set to face a centre-right opposition leader in a presidential election run-off in Romania that could undermine its pro-Western stance after a shock outcome in the first-round vote. Independent hard-right politician Calin Georgescu, 62, won 22.94% of votes in Sunday's voting, the electoral authority said. Centre-right contender Elena Lasconi, leader of the opposition Save Romania Union, lay second with 19.18%. The outcome was a shock as pre-election opinion polls had made leftist Prime Minister Marcel Ciolacu the frontrunner. Ciolacu said he would resign as party leader following the result but would remain in the role of prime minister until a parliamentary election scheduled on Dec. 1. The candidate of the centre-right Liberals, Ciolacu's coalition partners, also failed to secure a place in the election run-off, which will be held on Dec. 8. Campaigning focused largely on the soaring cost of living in Romania, which is a member of the European Union and the North Atlantic Treaty Organisation and has the EU's biggest share of people at risk of poverty. "I have voted for the wronged, the humiliated, those who feel they do not matter in this world," Georgescu said on Sunday. "Today, the vote is a prayer for the nation." Lasconi attempted to highlight her pro-Western stance in comments made late on Monday: "Yes, Europe. Yes, NATO." Georgescu had been polling in low-single digits before the vote and ran a Tik Tok-driven campaign. "Just imagine, we are in a position where we could have a far-right president," political scientist Cristian Pirvulescu said. "This is where the establishment parties have led us, first by vehemently denying the existence of a hybrid war and then by falling into it. His chances of winning are high." Romania's sovereign euro bonds fell nearly 2 cents on Monday following the first round of voting. Asked about the election outcome, Kremlin spokesman Dmitry Peskov said: "I would not make any predictions yet. We probably cannot say that we are that familiar with the world view of this candidate as far as relations with our country are concerned." "For now, we understand very clearly the current leadership of Romania, which is not a friendly country to us. We will of course watch how the electoral processes develop and who wins." PARLIAMENTARY ELECTION LOOMS A few hundred people gather in central Bucharest on Monday evening to protest against Georgescu, some carrying banners "No, thank you, CG". But hard-right groupings are likely to receive an electoral boost from his success when the southeast European country of 19 million votes in the Dec. 1 parliamentary election. Mainstream parties have not officially endorsed either candidate in the presidential run-off on Dec. 8. Georgescu is a former member of a hard-right opposition party who has praised Ion Antonescu, Romania's de facto World War Two leader who was sentenced to death for his part in Romania's Holocaust, and Corneliu Zelea Codreanu, leader of a pre-war violent anti-Semitic movement. Georgescu has called a NATO ballistic missile defence shield in Romania a "shame of diplomacy" and questioned whether the Western military alliance would protect any of its members if they were attacked by Russia. He said Romania's best chance lay with "Russian wisdom," but has refused to say explicitly whether he supports Russia. On Monday, he spoke about the need for Romania to maintain "neutrality", in an echo of rhetoric often used by Hungarian Prime Minister Viktor Orban. "There is no East or West. There is only Romania and the peace of our people. Our economic and social stability comes from an absolutely necessary neutrality." Romania, which was under Communist rule for four decades until 1989, shares a 650-km (400-mile) border with Ukraine. Since Russia attacked Ukraine in 2022, Romania has enabled the export of millions of tons of grain through its Black Sea port of Constanta and provided military aid, including the donation of a Patriot air defence battery. In Izvorani, a village near capital Bucharest from which Georgescu ran his campaign, Alexandru Stelu Ghita wondered if the country could be repaired. "Everything was sold off, what can be repaired, agriculture is working badly, industry is working badly," he said. Pirvulescu said retaining control of parliament would be important for pro-Western forces to serve as a counterbalance to Georgescu if he becomes president. The president, who is limited to two five-year terms, has a semi-executive role which includes heading Romania's armed forces and chairing the council that decides on military aid. The president represents Romania at EU and NATO summits and appoints the prime minister, chief judges, prosecutors and secret service heads. The current head of state, Klaus Iohannis, won power in 2014 on a promise to bolster the fight against endemic corruption. (Reporting by Luiza Ilie, Editing by Timothy Heritage and Alistair Bell)NEW YORK--(BUSINESS WIRE)--Nov 25, 2024-- Athena Technology Acquisition Corp. II (NYSE American: ATEK.U, ATEK, ATEK WS) (“ATEK” or the “Company”) received an official notice of noncompliance (the “NYSE American Notice”) from NYSE Regulation (“NYSE”) stating that the Company is not in compliance with NYSE American continued listing standards due to the failure to timely file the Company’s Form 10-Q for the quarter ended September 30, 2024 (the “Delinquent Report”) by the filing due date of November 19, 2024 (the “Filing Delinquency”). The Company intends to file the Delinquent Report in the near future, however, there is currently no anticipated date for when such Filing Delinquency will be cured via the filing of the Delinquent Report. The Company expects, however, to regain compliance with the NYSE American continued listing standards once the Delinquent Report has been filed. In the interim, the NYSE American Notice has no immediate effect on the listing or trading of the Company’s Class A common stock listed on NYSE American. There can be no assurance that the Company will ultimately regain and remain in compliance with all applicable NYSE American listing standards. Athena Technology Acquisition Corp. II (NYSE American: ATEK.U, ATEK, ATEK WS), incorporated in Delaware, is a special purpose acquisition company incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. ATEK is the third SPAC founded by Isabelle Freidheim, who also serves as its Chief Executive Officer, with Kirthiga Reddy as President and Jennifer Calabrese as Chief Financial Officer. Certain statements made in this press release are not historical facts but may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), Section 21E of the Securities Exchange Act of 1934, as amended, and the “safe harbor” provisions under the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “intend,” or continue or the negatives of these terms or variations of them or similar terminology or expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on the current expectations of the Company’s management and are not predictions of actual performance. Such statements may include, but are not limited to, statements regarding the Company’s plan to file the Delinquent Report within the provided cure period to regain compliance with the NYSE American continued listing standards. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These statements are subject to a number of risks and uncertainties, and actual results may differ materially. These risks and uncertainties include, but are not limited to: the Company’s ability to file the Delinquent Report within the Initial Cure Period to regain compliance with the NYSE American continued listing standards; general economic, political and business conditions; the number of redemption requests made by the Company’s stockholders in connection with a potential business combination; the outcome of any legal proceedings that may be instituted against the Company; the risk that the approval of the Company’s stockholders for a potential transaction is not obtained; expectations related to the terms and timing of a potential business combination; failure to realize the anticipated benefits of a business combination; the risk that a business combination may not be completed by the Company’s business combination deadline and the potential failure to obtain an extension of its business combination deadline in the Company’s upcoming Annual Meeting of Stockholders; costs related to a business combination; and other risks that will be detailed from time to time in filings with the SEC, including those risks discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on September 27, 2024 and in subsequently filed Quarterly Reports on Form 10-Q. The foregoing list of risk factors is not exhaustive. There may be additional risks that could also cause actual results to differ from those contained in these forward-looking statements. In addition, forward-looking statements provide the Company’s expectations, plans or forecasts of future events and views as of the date of this press release. And while the Company may elect to update these forward-looking statements in the future, the Company specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. Nothing herein should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that the results of such forward-looking statements will be achieved. View source version on : CONTACT: Bevel PR KEYWORD: UNITED STATES NORTH AMERICA NEW YORK INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE SOURCE: Athena Technology Acquisition Corp. II Copyright Business Wire 2024. PUB: 11/25/2024 04:05 PM/DISC: 11/25/2024 04:05 PM
NEW YORK--(BUSINESS WIRE)--Nov 25, 2024-- Athena Technology Acquisition Corp. II (NYSE American: ATEK.U, ATEK, ATEK WS) (“ATEK” or the “Company”) received an official notice of noncompliance (the “NYSE American Notice”) from NYSE Regulation (“NYSE”) stating that the Company is not in compliance with NYSE American continued listing standards due to the failure to timely file the Company’s Form 10-Q for the quarter ended September 30, 2024 (the “Delinquent Report”) by the filing due date of November 19, 2024 (the “Filing Delinquency”). The Company intends to file the Delinquent Report in the near future, however, there is currently no anticipated date for when such Filing Delinquency will be cured via the filing of the Delinquent Report. The Company expects, however, to regain compliance with the NYSE American continued listing standards once the Delinquent Report has been filed. In the interim, the NYSE American Notice has no immediate effect on the listing or trading of the Company’s Class A common stock listed on NYSE American. There can be no assurance that the Company will ultimately regain and remain in compliance with all applicable NYSE American listing standards. About Athena Technology Acquisition Corp. II Athena Technology Acquisition Corp. II (NYSE American: ATEK.U, ATEK, ATEK WS), incorporated in Delaware, is a special purpose acquisition company incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. ATEK is the third SPAC founded by Isabelle Freidheim, who also serves as its Chief Executive Officer, with Kirthiga Reddy as President and Jennifer Calabrese as Chief Financial Officer. Forward-Looking Statements Certain statements made in this press release are not historical facts but may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), Section 21E of the Securities Exchange Act of 1934, as amended, and the “safe harbor” provisions under the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “intend,” or continue or the negatives of these terms or variations of them or similar terminology or expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on the current expectations of the Company’s management and are not predictions of actual performance. Such statements may include, but are not limited to, statements regarding the Company’s plan to file the Delinquent Report within the provided cure period to regain compliance with the NYSE American continued listing standards. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These statements are subject to a number of risks and uncertainties, and actual results may differ materially. These risks and uncertainties include, but are not limited to: the Company’s ability to file the Delinquent Report within the Initial Cure Period to regain compliance with the NYSE American continued listing standards; general economic, political and business conditions; the number of redemption requests made by the Company’s stockholders in connection with a potential business combination; the outcome of any legal proceedings that may be instituted against the Company; the risk that the approval of the Company’s stockholders for a potential transaction is not obtained; expectations related to the terms and timing of a potential business combination; failure to realize the anticipated benefits of a business combination; the risk that a business combination may not be completed by the Company’s business combination deadline and the potential failure to obtain an extension of its business combination deadline in the Company’s upcoming Annual Meeting of Stockholders; costs related to a business combination; and other risks that will be detailed from time to time in filings with the SEC, including those risks discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on September 27, 2024 and in subsequently filed Quarterly Reports on Form 10-Q. The foregoing list of risk factors is not exhaustive. There may be additional risks that could also cause actual results to differ from those contained in these forward-looking statements. In addition, forward-looking statements provide the Company’s expectations, plans or forecasts of future events and views as of the date of this press release. And while the Company may elect to update these forward-looking statements in the future, the Company specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. Nothing herein should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that the results of such forward-looking statements will be achieved. View source version on businesswire.com : https://www.businesswire.com/news/home/20241125554143/en/ CONTACT: Bevel PR Athena@bevelpr.com KEYWORD: UNITED STATES NORTH AMERICA NEW YORK INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE SOURCE: Athena Technology Acquisition Corp. II Copyright Business Wire 2024. PUB: 11/25/2024 04:05 PM/DISC: 11/25/2024 04:05 PM http://www.businesswire.com/news/home/20241125554143/en‘Oh Bobby’: RFK Jr appears naked in video posted by wife Cheryl Hines
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EPL: ‘0-0 will be good result’ – Man City boss Guardiola fears 4 Liverpool stars
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