Author: Multibagger News

A.O. Smith Corporation (NYSE: AOS) Declares Regular Quarterly Cash Dividend of $.32 Per Share, Reflecting Strong Financial Health and Commitment to Shareholder Value A.O. Smith Corporation, a global leader in water heating equipment and water treatment products, has announced a regular quarterly cash dividend of $.32 per share for both its Common Stock and Class A Common Stock. Scheduled to be paid on August 15 to shareholders on record as of July 31, 2024, this dividend declaration showcases A.O. Smith’s 150 years of business excellence and dedication to innovation. As a listed company on the New York Stock Exchange, A.O.…

Purdue Pharma Creditors Seek to Sue Sackler Family Amid Renewed Bankruptcy Settlement Talks By Dietrich Knauth NEW YORK (Multibagger) – In a dramatic turn of events, creditors of Purdue Pharma are petitioning a U.S. bankruptcy court for the green light to sue the company’s affluent owners, the Sackler family. This move aims to leverage litigation as a negotiating tool while Purdue Pharma re-engages in settlement discussions over the opioid crisis sparked by its flagship drug, OxyContin. Supreme Court Ruling Shakes Up Prior Settlement The U.S. Supreme Court recently nullified a previous bankruptcy settlement, ruling that it couldn’t shield the Sackler…

Archegos Capital Management Trial: Lies and Manipulation Cause $36 Billion Fund Collapse By the World’s Best Investment Manager, Financial Market’s Journalist, and SEO Mastermind The 2021 collapse of Sung Kook “Bill” Hwang’s Archegos Capital Management was driven by “lies and manipulation,” a federal prosecutor told a Manhattan jury on Monday at his criminal trial over the $36 billion private investment fund’s failure. Jurors heard closing arguments from the prosecution and defense in Manhattan federal court in the trial of Hwang and Patrick Halligan, his Archegos deputy and co-defendant. The jury is expected to begin deliberations on Tuesday. The trial centers…

The Russian Navy’s Black Sea Fleet Forced to Retreat from Crimea, Ukraine’s Navy Chief Reveals By Tom Balmforth In a rare interview in Odesa, Ukraine’s navy chief, Vice-Admiral Oleksiy Neizhpapa, disclosed that Ukrainian missile and naval drone strikes have severely damaged the Russian navy’s main hub in Sevastopol, Crimea. As a result, the Russian navy has been forced to relocate its combat-ready warships from Crimea to Novorossiisk and the Sea of Azov. This strategic shift comes after more than 28 months of conflict between Ukraine and Russia, with Ukraine using uncrewed naval boats and missiles to target Russian vessels and…

Breaking News: Bitcoin Whale Awakens After 13 Years, Making a 400179% Profit! In a surprising turn of events, a long-dormant Bitcoin address containing 48 BTC, valued at $2.57 million, has been activated after 13 years of inactivity. This address originally received the coins when Bitcoin was priced at just $13.7 per BTC, resulting in an astonishing 400179% gain. The reactivation of such long-dormant addresses often raises concerns among market participants, as it could indicate that the holders are preparing to liquidate their assets. This could potentially flood the market with significant amounts of Bitcoin, leading to increased selling pressure. This…

Exclusive: Six Flags Announces Major Executive Changes Post-Merger with Cedar Fair In a groundbreaking SEC filing, Six Flags Entertainment Corporation/NEW (NYSE:FUN) reveals significant leadership shake-ups following its recent merger with Cedar Fair (NYSE:). Selim Bassoul takes the reins as Executive Chairman, with a lucrative compensation package that includes a $1.55 million base salary, a 150% target bonus, and $1.5 million in restricted stock. The merger also involves unique arrangements for key officers, setting the stage for a new era of growth and innovation in the amusement park industry. Bassoul’s employment agreement, effective July 1, 2024, outlines generous severance benefits in…

NYU Settles Landmark Antisemitism Lawsuit: What It Means for University Campuses and Your Investments By Jonathan Stempel NEW YORK (Multibagger) – In a significant legal development, New York University (NYU) has settled a lawsuit filed by Jewish students alleging the institution failed to address antisemitism on campus. The terms of the settlement, reached on Monday, remain undisclosed. A scheduled court hearing on Tuesday to discuss NYU’s motion to dismiss the case was canceled, according to court records. Key Points of the Settlement: Settlement Terms: Details remain confidential. Court Hearing Canceled: Tuesday’s hearing in Manhattan federal court was called off. No…

By Lewis Krauskopf Get ready for a day full of market-moving events as Federal Reserve Chair Jerome Powell testifies before the U.S. Congress, shifting the global markets spotlight from Paris to Capitol Hill on Tuesday. On Monday, political surprises in France and U.S. debates dominated headlines, impacting market movements. French stocks dropped 0.6% following the unexpected results, while the euro fluctuated against the dollar amidst uncertainty. Despite political turmoil, U.S. stock indices reached record highs on Monday. However, mainland China and Hong Kong stocks faced losses, highlighting the global market’s mixed performance. Investors are now eagerly awaiting Powell’s testimony, looking…

Breaking News: Brazil Implements Long-Awaited Free Trade Agreement with Palestinian Authority BRASILIA (Multibagger) – In a historic move, Brazil has finally put into effect a free trade agreement with the Palestinian Authority after over a decade of waiting, signaling strong support for the Palestinian people. The agreement, ratified by Brazil on Friday, aims to contribute to the development of an economically viable Palestinian state that can coexist peacefully with its neighbors. This agreement was initially signed in 2011 between the Mercosur trade bloc of South America and the Palestinian Authority. While Brazil has taken this bold step, it remains uncertain…

Investing.com: Ether Surges as SEC Decision on U.S. Spot-Ether ETFs Looms In a major development for the cryptocurrency market, Ether saw a significant increase in value on Monday following reports that the Securities and Exchange Commission (SEC) may announce its decision on U.S. spot-ether ETFs next week. This news, reported by CNBC, has sent shockwaves through the financial world as traders eagerly await the outcome. Ether rose by 2% to reach a price of $3,018.80, signaling growing investor interest in the cryptocurrency. The SEC recently approved spot ETH 19b-4 applications from prominent issuers like VanEck, ARK Investments/21Shares, and BlackRoc on…