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Objectors to the proposed settlement of three athlete-compensation antitrust cases against the NCAA and the Power Five conferences have argued in new filings that even a recently amended version of the deal remains unfair to athletes who could lose their places on teams due to sport-by-sport roster limits that are part of the agreement.

The limits had been set to go into effect on July 1 for any school that chooses to participate in another feature of the agreement: paying athletes directly for the use of their name, image and likeness (NIL). But on April 23, U.S. District Judge Claudia Wilken refused to grant final approval, saying in an order that the roster arrangement is “not fair” because thousands of athletes who are supposed to be benefiting from the deal stood to lose their places on teams after the current school year.

She gave the sides two weeks to address her concerns, and wrote that one solution would be “to ensure that no (athletes) who have or had a roster spot will lose it as a result of the immediate implementation of the settlement agreement.”

On May 7, lawyers for the plaintiffs, the NCAA and the conferences wrote that they had agreed to a setup under which schools would have the option to exempt from the limits any athlete who was on a roster in 2024-25 and who has been or would have been removed for 2025-26 because of the limits for the remainder of their college careers. It also would let schools similarly accommodate any high school senior who was ‘recruited to be, or was assured they would be’ on a Division I school’s roster for the 2025-26 school year.

However, this would not remove the roster limits from the settlement. And this would not require schools to keep all of their current athletes on their rosters. Lawyers for the NCAA wrote that ‘there are no guarantees’ that these athletes ‘will get or maintain roster spots. But that does not adversely affect any’ athlete, the NCAA said, because athletes’ roster spots always have been ‘at the discretion of the coach’ and the school.

In filings on May 9 and May 13, three lawyers for objectors who had been allowed by Wilken to have input in how the agreement would by modified, separately argued, basically, that athletes have been on teams or promised spots should be assured that they will not lose those positions because of the limits.

 “A settlement like this one, which vests (the schools) with ‘discretion’ to provide relief – or not – is no settlement at all,” wrote a group represented by Chicago-based attorney Steve Molo. “Indeed, numerous Objectors are hearing that schools have no intention of relaxing roster limits at all, leaving many student-athletes in the same position as under the settlement (Wilken) rejected as unfair.”

Molo’s group proposed that all athletes currently on a roster or promised a spot should not count against the limits for the duration of their careers. This group said schools would have the discretion to cut athletes “for legitimate reasons unrelated to the roster cap, such as conduct violations and poor athletic or academic performance,” but if there is dispute about this, the athlete could ask for an arbitrator to decide the matter.

Another objector lawyer, Laura Reathaford, argued for mandatory grandfathering of current athletes and of high school seniors who had “accepted an offer” to join a team in 2025-26 until their eligibility expires.

“By making grandfathering … optional, the (athletes) are still not treated equitably relative to each other and relief is not being provided to each (athlete covered by the settlement) as the law requires,” she wrote. “Instead … conflicts persist by protecting some athletes while leaving the others exposed.”

A third group of lawyers led by Denver-based attorneys Douglas DePeppe and Robert Hinckley endorsed the other objectors’ proposals but argued for what they termed “a formal grievance” and “oversight” system.

The plaintiffs, the NCAA and the conferences can respond to these in arguments they must provide to Wilken no later than May 16.

Wilken has written that she was inclined to approve the rest of the deal over a variety of other objections. That means she already was otherwise prepared to accept an arrangement under which $2.8 billion in damages would be paid to current and former athletes — and their lawyers — over 10 years, and Division I schools would be able to start paying athletes directly for use of their NIL, subject to a per-school cap that would increase over time and be based on a percentage of certain athletics revenues.

This post appeared first on USA TODAY

McDonald’s announced a plan to hire 375,000 employees across the U.S. this summer.

The plan, announced on Monday, is one of the fast-food chain’s largest hiring pushes in years, according to a news release. It goes hand in hand with McDonald’s goal to open 900 new restaurants in the U.S. by 2027 and its plan to serve more customers during summer months.

Joe Erlinger, McDonald’s president for the U.S., met with Department of Labor Secretary Lori Chavez-DeRemer at a location just outside of Columbus, Ohio, to announce the news. The hiring will be across McDonald’s company-owned and franchised locations, according to a company spokesperson.

The news comes amid the Trump administration’s push for businesses to invest more in the U.S. The White House reported that it secured more than $5 trillion in new investment promises in the U.S. during Trump’s first 100 days in office.

Those investments include a $500 billion plan in manufacturing by Apple, and $500 billion investment plans announced by Nvidia and by a coalition of companies including SoftBank and Oracle.

Earlier this month, McDonald’s reported its worst quarterly sales for the U.S. since the height of the pandemic in 2020.

The restaurant company reported U.S. same-store sales fell 3.6%, the largest three-month drop since Q2 2020, when they plunged 8.7%. Forecasts had been for a decline of just 1.7%.

McDonald’s executives told investors during a call that the reason for the decline was that ‘people are just visiting less,’ adding that traffic among middle-income diners fell by “nearly double digits” alongside an ongoing drop-off among low-income ones. As an example, they said more people appear to be skipping breakfast entirely to cut back on spending, or eating breakfast at home.

The fast-food chain has over 38,000 locations in over 100 countries, and is aiming for 50,000 by 2027.



This post appeared first on NBC NEWS

CAMDEN, N.J. — The father and son duo behind a stock fraud scheme involving the infamous $100 million New Jersey deli were sentenced to several months in prison Tuesday.

Peter Coker Jr. was sentenced to 40 months. With credit for time served, he owes about 12 months locked up. But he could be released sooner than that given how federal inmates are granted time off for good conduct.

Earlier Tuesday, the 56-year-old’s father, North Carolina businessman Peter Coker Sr., was sentenced to six months in jail, to be followed by six months of home confinement, for his role in the case.

The Cokers and a third man, James Patten, admitted to the scheme in orchestrated the fraudulent inflation of the share price of two companies to better position them for mergers with private firms.

One of the companies, Hometown International, ended up having a market capitalization of more than $100 million despite owning just a small, money-losing deli in South Jersey.

The other company, E-Waste, had an even larger market cap, despite having no business operations.

Coker Jr. was brutally attacked while in a Thai prison awaiting extradition in early 2023, his attorney said at his sentencing for securities fraud in New Jersey federal court on Tuesday.

Coker Jr. was set upon by as many as 10 fellow inmates in the Thai lock-up, his lawyer said. Coker Jr. was being held there after police found him in Thailand while under indictment in the United States for the securities fraud scheme involving the deli owner and a related shell company

Coker Jr.’s lawyer, John Azzarello, cited his time in the Thai prison and in the 26 or so months he has served in an Essex County jail, in asking a judge to sentence him to effectively time served, or only a few months more.

Azzarello called those conditions in both jails “inhumane.”

Azzarello also detailed how Coker Jr. was suffering from severe cirrhosis of the liver as the result of alcohol abuse — “a bottle of whiskey a day” — before he was arrested in Thailand.

He said Coker Jr. had been hospitalized several times for his condition, and that doctors were considering doing a liver transplant.

Coker Jr., speaking to Judge Christine O’Hearn in U.S. District Court in Camden, said, “This crime has changed me profoundly.”

“The assault and the horrors I experienced in Bangkok prison, I wouldn’t wish on my worst enemy,” Coker Jr. said, wearing a yellow one-piece jailhouse uniform.

“It was the lowest point in my life.”

He also expressed regret for his role in the scheme, which involved his father and another man.

“It’s very important to me that your honor and my parents know I wish I could go back,” and not commit the crime, Coker Jr. said.

“It kills me, every time I think about it, how my actions affected my parents,” he said.

“My parents should have never been associated with this abhorrent crime,” Coker Jr. said.

“My greed destroyed us both.”

Coker Jr. faces deportation after he serves his sentence. He renounced his U.S. citizenship in 2019, and holds citizenship in the Caribbean nation St. Kitts.

During his sentencing, Coker Sr. was ordered to pay a $500,000 fine and pay up to $644,000 in restitution.

“I do stand before you extremely remorseful for my actions,” Coker Sr. said as his wife, daughter, grandchildren, and friends looked on.

“I’m terribly sorry for my part. This episode has been the worst time of my life,” the 82-year-old Chapel Hill resident said. “I’m sorry for every investor who has been harmed by my actions.”

Federal sentencing guidelines had suggested a prison sentence of 51 to 63 months for Coker Sr.

But prosecutors said they wanted less time than that, namely the top end of a range of zero to 24 months that they stipulated when he pleaded guilty.

Judge O’Hearn said she would have sentenced Coker Sr. to much more time in jail if he was not as old as he is.

“This was a fraudulent scheme from the inception,” Judge O’Hearn said at the start of the hearing.

“The companies are, in fact, worthless, and there is no prospect for recovery,” O’Hearn said.

“This was a multi-year, very sophisticated fraudulent scheme involving a sort of esoteric corporate structure, of which I’ve learned more than I ever care to,” the judge said. “One that was illegal … and it caused harm.”

The judge opened the hearing by delivering a blow to defense lawyers, adopting prosecutors’ argument that there were nearly $5 million in losses from the scheme, which included investments by Duke and Vanderbilt universities.

“What is the motivation here other than greed? Because I don’t see it,” O’Hearn asked at one point, after noting that all three defendants were each worth millions of dollars apiece.

Coker Sr., who was a star college basketball player at Dartmouth and then North Carolina State, has a net worth of $6 million, the judge said.

Patten is due to be sentenced on June 10.

The younger Coker was not in court while his father was sentenced, because of a long delay in transporting him from a jail in Essex County. He has been detained there without bail since being extradited from Thailand in March 2023 following his arrest there as a fugitive.

Coker Sr.’s lawyer, Zach Intrater, asked O’Hearn to sentence him to no prison time after describing him as a good family man who never disputed his criminal conduct after he was first charged.

“I don’t think they make very many more like Pete anymore,” the defense attorney said. “He’s courtly, his manners are impeccable.”

Intrater repeatedly referenced Susan Coker, who has been married to Peter for 61 years, asking the judge to allow the couple to remain together for what remains of their lives.

“He bears responsibility for engaging in an offense that didn’t just hurt other peopl,e that didn’t just hurt his family, but that involved his son, his only son, and knowing that his son has been incarcerated in part from his own actions and knowing what has happening to his son during that term of incarceration.”

“Judge, I think having to live with that is a punishment that could be worse than even what you could impose,” Intrater said.

The attorney also argued that Coker Sr. was not the “prime mover” for the scheme.

Susan Coker told the judge, “He’s just a wonderful guy.”

“I know if he had a second chance, he never would have done any of this,” Susan said, her voice cracking.

Coker Sr. and Patten were arrested in September 2022, months after both Hometown merged with a bioplastics company, and more than a year after E-Waste did its own merger with an electric vehicle company.

Coker Jr., who previously resided in Hong Kong, was arrested months later.

The men were indicted more than a year after CNBC detailed a web of questionable connections between Hometown and E-Waste, as well as the prior criminal and civil court cases of Coker Sr. and of Patten, and consulting deals with both companies that benefited those two men. 

The fraud came to light in April 2021 when hedge fund manager David Einhorn wryly noted that Hometown International’s market capitalization was $100 million despite owning just one asset whose annual revenue from selling sandwiches, soda, and chips was less than $36,000 for the past two years combined.

“The pastrami must be amazing,” Einhorn wrote in a letter to clients.

Intrater on Tuesday said that he believed the case was prosecuted in large part because of the Einhorn letter, which generated significant coverage in the media.

The scam, which ran from 2014 through September 2022, coordinated trading of the stocks of the companies, creating the false impression of demand for shares that traded on OTC Marketplace.

The scheme began when Patten suggested the creation of Hometown as an umbrella corporation to his friend Paul Morina, a high school principal and renowned wrestling coach. The company would go on to own the Your Hometown Deli in Paulsboro, New Jersey.

Morina and the other deli owner were unaware of Patten’s scheme to manipulate Hometown’s stock.

Hometown’s stock price rose by more than 900% during the scheme. The price of E-Waste rose by nearly 20,000%.

In 2010, Patten pleaded guilty in New Jersey federal court to a mail fraud charge in connection with sending a client a false financial statement to cover up bad investments he made using her money. He was sentenced to 27 months in prison in that case.

Four years before, Patten was barred by the broker-dealer FINRA from acting as a stockbroker for failing to satisfy an arbitration award of more than $753,000, violating securities laws, and unauthorized trading for churning a client’s account. 

Coker Sr. years ago was sued for allegedly hiding money from creditors and alleged business-related fraud. He denied wrongdoing in those cases.

This post appeared first on NBC NEWS

UnitedHealth Group announced a new chief executive Tuesday, a sudden and surprising change following the fatal shooting in December of its UnitedHealthcare subsidiary’s leader.

Andrew Witty stepped down from leading UnitedHealth for unspecified “personal reasons,” the company said. Stephen J. Hemsley, who served as chief executive from 2006 to 2017, will return to the role and remain board chairman. Witty will serve as a senior adviser to Hemsley, the company said in a news release. 

UnitedHealth has been the focus of sharp criticism over the health insurance industry’s practices and has seen its stock plummet in the past year. The Justice Department has investigated its business activities.

UnitedHealth’s shares fell more than 17% Tuesday. The stock, which is part of the 30-company Dow Jones Industrial Average, closed at $311.38 a share, well off its recent high of $630.73 in November.

The company also said that it has suspended its annual outlook for 2025, to include ‘more types of benefit offerings than seen in the first quarter’ and because ‘the medical costs of many Medicare Advantage beneficiaries new to UnitedHealthcare remained higher than expected.’

‘The company expects to return to growth in 2026,’ the statement added.

In December, United Healthcare CEO Brian Thompson was fatally shot in what police described as a “premeditated, preplanned targeted attack” in midtown Manhattan as he was walking to an investors’ conference. 

Luigi Mangione, now 27, was arrested after a five-day manhunt at a McDonald’s in Altoona, Pennsylvania.

He faces federal and state charges in New York and Pennsylvania in connection with the shooting. He has pleaded not guilty to the murder and terrorism charges in New York, and not guilty to federal stalking and murder charges. If convicted of federal charges, Mangione could be sentenced to death.



This post appeared first on NBC NEWS

Microsoft on Tuesday said that it’s laying off 3% of employees across all levels, teams and geographies.

“We continue to implement organizational changes necessary to best position the company for success in a dynamic marketplace,” a Microsoft spokesperson said in a statement to CNBC.

The company reported better-than-expected results, with $25.8 billion in quarterly net income, and an upbeat forecast in late April.

Microsoft had 228,000 employees worldwide at the end of June, meaning that the move will affect thousands of employees.

It’s likely Microsoft’s largest round of layoffs since the elimination of 10,000 roles in 2023. In January the company announced a small round of layoffs that were performance-based. These new job cuts are not related to performance, the spokesperson said.

One objective is to reduce layers of management, the spokesperson said. In January Amazon announced that it was getting rid of some employees after noticing “unnecessary layers” in its organization.

Last week cybersecurity software provider CrowdStrike announced it would lay off 5% of its workforce.

In January, Microsoft CEO Satya Nadella told analysts that the company would make sales execution changes that led to lower growth than expected in Azure cloud revenue that wasn’t tied to artificial intelligence. Performance in AI cloud growth outdid internal projections.

“How do you really tweak the incentives, go-to-market?” Nadella said. “At a time of platform shifts, you kind of want to make sure you lean into even the new design wins, and you just don’t keep doing the stuff that you did in the previous generation.”

On Monday, Microsoft shares stopped trading at $449.26, the highest price so far this year. They closed at a record $467.56 last July.

This post appeared first on NBC NEWS

Financial technology company Chime on Tuesday filed paperwork to go public on the Nasdaq. The company intends to file under the ticker symbol “CHYM.”

“Chime is a technology company, not a bank,” the company said in its prospectus, noting it’s not a member of the U.S. Federal Deposit Insurance Corp. Still, the company cited Bank of America, Capital One, Citibank, JPMorgan Chase, PNC Bank and Wells Fargo as competitors.

Most of Chime’s new members who arrange for direct deposit previously did direct deposit elsewhere, “most commonly with large incumbent banks,” the company said.

According to the filing, Chime picks up revenue from interchange fees associated with purchases that members make with Chime debit cards and credit cards. Banks collect interchange fees, which are generally a percentage of the transaction value, plus a set amount for each transaction depending on the rates determined by card networks such as Visa. The banks then pass money on to Chime.

In the March quarter, Chime generated $12.4 million in net income on $518.7 million in revenue. Revenue grew 32%. At the end of March, Chime had 8.6 million active members, up about 23% year over year. Average revenue per active member, at $251, was up from $231. It has members in all 50 states, and 55% of them female. The average member age is 36.

Around two-thirds of members look to Chime for their “primary financial relationship,” Chime said. The term refers to those who made at least 15 purchases using its card or received a qualifying direct deposit of at least $200 in the past calendar month.

Chime offers a slew of other services in addition to its cards. Eligible members with direct deposit can borrow up to $500 with a fixed interest rate of $5 for every $100 borrowed. The company doesn’t charge late fees or compound interest.

Following an extended drought, IPOs looked poised for a rebound when President Donald Trump returned to the White House in January. CoreWeave’s March debut provided some momentum. But Trump’s tariff announcement in April roiled the market and led companies including Chime as well as trading platform eToro, online lender Klarna and ticket marketplace StubHub to delay their plans.

EToro is now scheduled to debut this week, and digital health company Hinge Health issued its pricing range for its IPO on Tuesday, win an expected offering coming soon. Chime’s public filing is the latest sign that emerging tech companies are preparing to test the market’s appetite for risk. Last month Figma said it had filed confidentially for an initial public offering.

Chris Britt, Chime’s co-founder and CEO, told CNBC in 2020 that it would be ready for an IPO within the next 12 months. But in late 2021 markets turned negative on technology as inflation picked up, prompting central bankers to ratchet up interest rates.

Chime was founded in 2012 and is based in San Francisco. It ranked 22nd on CNBC’s 2024 Disruptor 50 list of privately held companies.

Investors include Crosslink Capital, DST Global, General Atlantic, Iconic Strategic Partners and Menlo Ventures.

— CNBC’s Ari Levy contributed to this report.

This post appeared first on NBC NEWS

Earnings season continues, and this week we’re looking at three companies heading into their reports with different trajectories. One is in a long-term downtrend, one has been a steady riser, and one is somewhere in between. Let’s unpack what’s happening adn what to watch, all with an eye on balancing opportunity and risk, something that matters even more when you’re managing your own nest egg.

Under Armour (UAA): Looking for a Comeback

If you’ve held Under Armour for the long term, you would be better off hiding out literally under armor than trying to make money owning the stock. For traders, though, there may be a near-term opportunity to trade.

The stock’s all-time peak coincided with the peak of the Golden State Warriors and Steph Curry jacking up threes. Every kid in the gym tried to be like Steph, and young basketball players couldn’t get enough of his gear. I know because I coached these kids! Good luck getting them to practice lay-ups… it was just shooting bombs like Curry, but I digress.

Coming to earnings, UAA stock is trading just above all-time lows and is looking for a new catalyst to turn things around (see chart below). Let’s see if Kevin Plank can spark a comeback.

FIGURE 1. DAILY CHART OF UNDER ARMOUR STOCK.Technically, things have been messy over the long-term and intermediate term. But for short-term traders, there may be an opportunity. I’ve added the 20-day simple moving average (SMA) to the chart (green line). Over the past years, when the stock’s price moved above this point, it has led to a near-term rally. Sadly, those rallies have been short-lived. 

Maybe this time it will be different.

The $6.10-$6.20 range is a key level to watch. That’s where the 50-day SMA and the old pocket of longer-term support the stock broke below on April 2 meet. From a risk/reward perspective, use this as the line in the sand to be long or short Under Armour stock.

Any upward momentum that gets price to and above this level could lead to a bigger rally. It’s not a pretty picture, but risk/reward metrics for a short-term trade and potential near-term bottom look possible.

Walmart (WMT): A Bellwether for Tariffs and Spending

Walmart could be one of the most telling stocks when it comes to tariff impacts when they report on Thursday.

Last quarter, the company expressed caution regarding the upcoming fiscal year, cutting their EPS numbers short of analyst expectations. This conservative outlook was attributed to uncertainties surrounding consumer spending and the potential impact of tariffs. Investors will be listening closely to this report for strategies on managing tariff-related challenges, maintaining competitive pricing, and supply chain issues that may make stocking shelves more of a challenge.

Technically, shares gapped lower after the last earnings report and broke a long-term downtrend (see chart below). While price did wash out and successfully test its 200-day SMA, it hasn’t been able to make it all the way back.

FIGURE 2. DAILY CHART OF WALMART, INC. Walmart’s stock price appears to be toppy as it struggles to fill last quarter’s gap. The lack of new highs and a moving average convergence/divergence (MACD) that is extended and turning over lends to a more cautious narrative coming into this week’s numbers.

The trend is not the investor’s friend at the moment. It may be better to wait and see how this result goes and where price settles after the announcement. If you’re hoping the S&P 500 ($SPX) can get back to new highs, WMT needs to lead. Currently, the direction looks lower, but a test and hold of the 50-day SMA at the $91 level may be a better entry point as shares continue to consolidate below all-time highs and wait for more clarity on the tariff front.

Alibaba (BABA): A Wild Card

Alibaba faces a few big challenges as it heads into this week’s earnings. There are a couple of issues at play. 

First is the obvious tariff uncertainty that has clouded this market, although that looks to be heading down a path to certainty. The second is Alibaba’s AI investments. Its latest model, Qwen 2.5, is integrated into Apple’s iPhones sold in China. Seeing a push away from the American product, what impact will this have on BABA’s bottom line?

Let’s dive into the chart below.

FIGURE 3. DAILY CHART OF BABA. Technically, this stock has been all over the map. Trends change on a dime and tend to move quickly. To trade BABA, you should try to wait for bigger moves. This is why I’ve used Fibonacci retracement lines to coincide with larger consolidation areas and moving averages. 

As we head into the week, shares are in a bit of a no man’s land. There is minor support at the $118 area and major support at the 61.8% retracement level that coincides with the 200-day SMA around $102.

To the upside, resistance is up at the $143/$148 52-week high level. Amid trade deal negotiations, it may be better to watch the fundamental story unfold when trying to gauge BABA’s next move. The technicals are at a coin flip and appear to be turning lower. Given solid support levels, that is where it may be safer to add to or enter the stock. 

Final Thoughts

Earnings season isn’t just about catching the next hot stock. It’s about protecting what you’ve built while finding opportunities that fit your comfort with risk.

  • Under Armour could offer a short-term trade, but it’s speculative.
  • Walmart is a reliable bellwether, but its trend is uncertain.
  • Alibaba is full of potential, but comes with added complexity and volatility.

Always remember: there’s no need to chase every opportunity. Go after those that have a higher probability of meeting your investment goals.

In this in-depth walkthrough, Grayson introduces the brand-new Market Summary Dashboard, an all-in-one resource designed to help you analyze the market with ease, speed, and depth. Follow along as Grayson shows how to take advantage of panels, mini-charts, and quick scroll menus to maximize your StockCharts experience.

This video originally premiered on May 12, 2025. Click on the above image to watch on our dedicated Grayson Roze page on StockCharts TV.

You can view previously recorded videos from Grayson at this link.

Let’s be honest. Did anyone think a little more than a month ago that the S&P 500 was primed for a 1000-point rebound? I turned bullish at that April 7th bottom a month ago, but I did not see this type of massive recovery so quickly.

Why does this happen?

I believe these panicked selloffs occur, because the big Wall Street firms get out prior to market massacres and they need to get back in. What’s the best way to accumulate shares? To send out your best market influencers (oops, I meant analysts) to drive home the pain and misery that’s coming. I mean, just ask the media outlets. They were the ones responsible for all those terrorizing headlines. And market makers added panic by opening stocks much, much lower from previous days’ closes on many occasions this year.

Want some evidence?

Well, let’s go back in time and zero in on the more aggressive QQQ (ETF that tracks the NASDAQ 100):

At the very bottom, when the most manipulation takes place, we see massive gaps to the downside that create opportunities for Wall Street firms to buy in much, much cheaper as retail traders panic sell into those falling gaps. The massive volume that accompanies capitulation makes it very easy for market makers to buy lots of shares on their own behalf and on behalf of their institutional clients. This institutional buying is reflected by higher prices intraday. Looking at the above chart, the QQQ tumbled 52.46 (476.15-423.69) over 3 trading days. But the total gap downs over those 3 days were 46.26, nearly 90% of the entire 3-day meltdown. This wasn’t a distribution period or a selling event, it was a MARKET MAKER MANIPULATION EVENT.

Want an even more telling stat? From the March 13th close (467.64) to the Friday, May 9th close (487.97), the QQQ gained roughly 20 bucks. Here’s the breakdown of how the QQQ traded on an intraday basis over this 2-month period:

  • Opening gaps: -42.31
  • 9:30-10:00: +19.18
  • 10:00-11:00: +6.72
  • 11:00-2:00: +21.86
  • 2:00-4:00: +14.13

During a period when the QQQ gained roughly 20 bucks, the cumulative opening gaps were -42 bucks. That means that the QQQ saw buying to the tune of 62 bucks during the trading day. Panicked retailers took the market makers’ bait and sold with all the media-related nonsense, while market makers were secretly buying for all their Wall Street colleagues and buddies.

If you’re sitting in cash right now, wondering when to get back in, I can promise you that you’re not alone. This 2025 “massacre” and “shocking rebound” were planned all along. Wall Street’s rotation into defensive areas of the market had me and many EarningsBeats.com members in cash back in January and early February. They absolutely knew this was coming, but media outlets weren’t telling us back then to get out. They waited for the fear to kick in before posting their ridiculously-bearish headlines over and over and over again – forcing retail traders to say “Uncle!!!!!”

This is what I refer to as “legalized thievery.” It’s how our financial system works unfortunately. You either learn how to play defense against it or periodically suffer the consequences. At EarningsBeats.com, we choose the former.

How To Build A Winning Portfolio

Now that the manipulation is in our rear view mirror and the S&P 500 looks to move back into all-time high territory, it’s very important to understand the best way to outperform the benchmark S&P 500. That’s what we strive to do over time and we’ve been very successful at it. This Saturday, May 17th, at 10:00am ET, I’ll be hosting a webinar to show you how to successfully build a portfolio that outperforms over time. One part of this webinar will be dedicated to highlighting the keys to spotting the 2025 cyclical bear market and determining the best time frame to jump back in. We’ve made these calls in real time during 2025, from our MarketVision 2025 event in early January to my Daily Market Reports to EB members to my StockCharts blog articles to my YouTube shows hosted by both EarningsBeats.com and StockCharts.com. It’s extremely important that we learn from difficult periods in the stock market so that we’re better prepared for the next one.

Don’t allow Wall Street to manipulate you. I’m going to show you the best way(s) to avoid it when it occurs again. And it WILL happen again. CLICK HERE to learn more, register for our “How To Build A Winning Portfolio” and save your seat. If you cannot make the event live on Saturday, you’ll receive a recording of the event to listen to at your leisure simply by registering. So register NOW!

Happy trading!

Tom

Pan American Silver (TSX:PAAS,NYSE:PAAS) has entered into a definitive agreement to acquire MAG Silver (TSX:MAG,NYSEAMERICAN:MAG) in a transaction valued at approximately US$2.1 billion, further cementing its position as a top-tier silver producer in the Americas.

The acquisition will bring MAG’s 44 percent stake in the high-grade Juanicipio silver and gold mine in Mexico into Pan American’s portfolio, expanding the company’s exposure to low-cost, high-margin silver production.

Under the deal, MAG shareholders will receive a mix of US$500 million in cash and 0.755 Pan American shares for each MAG share held — a 21 percent premium based on closing prices as of May 9.

Upon the deal’s closing, expected later this year pending regulatory approvals, MAG shareholders will own roughly 14 percent of Pan American on a fully diluted basis.

Pan American CEO Michael Steinmann called the deal “transformational’ in the company’s Sunday (May 11) press release, citing Juanicipio’s strong production profile and future exploration potential.

‘Our acquisition of MAG brings into Pan American’s portfolio one of the best silver mines in the world,’ he said.

‘Juanicipio is a large-scale, high-grade, low-cost silver mine that will meaningfully increase Pan American’s exposure to high margin silver ounces. Furthermore, we see future growth opportunities through the significant exploration potential at Juanicipio as well as MAG’s Deer Trail and Larder properties,’ Steinmann continued.

MAG President George Paspalas echoed this sentiment, noting that the transaction delivers immediate value and long-term upside through continued exposure to Juanicipio within Pan American’s diversified asset base.

Juanicipio, located in Mexico’s prolific Zacatecas district, processed 1.33 million metric tons of ore in 2024, producing 18.6 million ounces of silver and 39,029 ounces of gold — up over 10 percent from 2023.

Operated by Fresnillo (LSE:FRES,OTC Pink:FNLPF), which owns the remaining 56 percent stake, the mine posted an average silver head grade of 468 grams per metric ton and is set to deliver up to 16.7 million ounces of silver in 2025.

Pan American’s 2024 output totaled 21.1 million ounces of silver and 892,000 ounces of gold, in line with guidance.

The company has operations across seven countries, with its key assets including the La Colorada mine in Mexico and the Jacobina gold mine in Brazil. Pan American ended last year with US $887.3 million in cash and short-term investments, bolstered by its recent divestment of the La Arena mine in Peru.

News of the deal sent shares for both companies higher in pre-trading hours on Monday (May 12).

As of 9:13 a.m EST, Pan American shares were up 6.5 percent from the previous day to trade for US$27.21, while MAG shares had seen a 6.07 percent uptick over the same period, trading for C$23.58.

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

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