A US judge signed off on Elon Musk paying $1.5 million to end a Securities and Exchange Commission lawsuit that accused him of cheating Twitter Inc. investors when he missed a deadline in 2022 to disclose his growing stake in the company. US District Judge Sparkle Sooknanan ’s approval comes after she said in May that the deal raised “red flags” — including whether the world’s richest person was g...
A US judge signed off on Elon Musk paying $1.5 million to end a Securities and Exchange Commission lawsuit that accused him of cheating Twitter Inc. investors when he missed a deadline in 2022 to disclose his growing stake in the company. US District Judge Sparkle Sooknanan ’s approval comes after she said in May that the deal raised “red flags” — including whether the world’s richest person was getting “special treatment” from the Trump administration. She continued to express skepticism Wednesday, saying the court would accept the settlement “despite its significant misgivings.” “In approving the parties’ proposed consent judgment, the court stresses that its role is limited,” Sooknanan wrote .“That means that the court may not step in the shoes of the SEC, notwithstanding that the SEC’s decision-making in this case raises red flags.” The SEC sued Musk in January 2025, days before President Donald Trump took office, alleging that the billionaire blew a deadline in 2022 to file a disclosure that he accumulated a 5% ownership stake in Twitter. The SEC said in the suit that failing to reveal his holdings in the social media company meant Musk could secretly amass shares on the cheap. That delay cost Twitter shareholders more than $150 million, the regulator said at the time. Musk later bought the company and renamed it X. At the time the suit was filed, Musk was a key Trump ally who had donated hundreds of millions of dollars to help him get elected in 2024. Musk then took on a prominent role in Trump’s administration overseeing a restructuring of the federal workforce but later had a public falling out with the president. Weeks before the suit was filed, SEC attorneys in December 2024 asked Musk to pay more than $200 million to settle the allegations, according to a letter his lawyers sent to the agency that was reviewed by Bloomberg News. Read More: Judge Says Cannot ‘Rubber Stamp’ $1.5 Million Musk-SEC Deal An SEC spokesperson said in May that a $1.5 million settl...
Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Bailey Lipschultz. (Source: Bloomberg)
Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Bailey Lipschultz. (Source: Bloomberg)
Jefferies Financial Group ( JEF ) on Wednesday announced the pricing of its public offering of €850M aggregate principal amount of 4.500% senior notes due 2033 with an effective yield of 4.544%, maturing July 15, 2033. Jefferies intends to use the net proceeds of the offering for general corporate purposes. Source: Press Release More on Jefferies Financial Group Jefferies: Good Operating Performan...
Jefferies Financial Group ( JEF ) on Wednesday announced the pricing of its public offering of €850M aggregate principal amount of 4.500% senior notes due 2033 with an effective yield of 4.544%, maturing July 15, 2033. Jefferies intends to use the net proceeds of the offering for general corporate purposes. Source: Press Release More on Jefferies Financial Group Jefferies: Good Operating Performance In Q2 Overshadowed By Asset Management Woes Jefferies Financial Group Q2 Preview: Favorable Trading But Private Credit Risks Linger Western Alliance stock falls after Jefferies sues over First Brands debacle Jefferies stock slides after Q2 miss as asset management weakness adds to private credit concerns Seeking Alpha’s Quant Rating on Jefferies Financial Group
Getty Images Imperial Petroleum Inc. ( IMPP ) is a company that operates a small fleet of tanker and dry bulk ships. It has just reported the second-best quarter in its history , and the stock now trades at roughly its net cash position. I have rated this company a Strong Sell before, and it is my belief that the case is now sharper than it was. The cash that makes IMPP look cheap is being convert...
Getty Images Imperial Petroleum Inc. ( IMPP ) is a company that operates a small fleet of tanker and dry bulk ships. It has just reported the second-best quarter in its history , and the stock now trades at roughly its net cash position. I have rated this company a Strong Sell before, and it is my belief that the case is now sharper than it was. The cash that makes IMPP look cheap is being converted, quarter by quarter, into vessels bought from the chief executive's family company at the top of the cycle. Each of those deals weakens both halves of the bull case at once, and that is the part the market is missing. Where The Cheapness Comes From The bull case is easy to state. First-quarter revenue was $61.7 million, net income $28.0 million, and EBITDA $34.4 million, per the 6-K , the second-best quarter in the company's history. The balance sheet carries $212.6 million in cash and time deposits and no debt. At $4.72, the roughly $211 million market capitalization is almost exactly that cash balance, so on paper you are paid to take the fleet, and the company has even started a $10 million buyback . These figures are real. The problem is what the cash behind them is being spent on. Buying Ships From Himself, At The Top In December, Imperial agreed to buy a 2010-built product tanker for $20.65 million and three 2015 and 2016 handysize bulkers for $57.26 million, roughly $78 million in total. The seller was Brave Maritime, a private company controlled by the Vafias family, whose member Harry Vafias runs Imperial. The purchases were approved by the independent directors after independent valuations, and payment can be deferred for a year without interest. The image below demonstrates the effect, with the payable to related parties jumping to $23.3 million from $3.0 million at year-end, as reported in the latest 6-K. And the December deal is not a one-off. This follows an established pattern, with the Post Marvel, Neptulus, and Clean Imperial all bought the same way usin...
Key PointsVanguard Long-Term Corporate Bond ETF and Vanguard Long-Term Treasury ETF both feature identical and highly efficient expense ratios of 0.03%.
Key PointsVanguard Long-Term Corporate Bond ETF and Vanguard Long-Term Treasury ETF both feature identical and highly efficient expense ratios of 0.03%.
Key PointsTesla's recent stock moves suggest Wall Street now values the company more for autonomous driving and robotics than for selling record numbers of cars.
Key PointsTesla's recent stock moves suggest Wall Street now values the company more for autonomous driving and robotics than for selling record numbers of cars.
NAPCO Security Technologies ( NSSC ) announced two leadership changes , effective July 8, 2026, to support its next phase of growth. Richard Soloway will transition to Founder and Executive Chairman, while Kevin Buchel will become CEO and President. Kevin Buchel will oversee daily operations, strategy execution, sales, marketing, and financial goals, while Soloway will focus on strategic initiativ...
NAPCO Security Technologies ( NSSC ) announced two leadership changes , effective July 8, 2026, to support its next phase of growth. Richard Soloway will transition to Founder and Executive Chairman, while Kevin Buchel will become CEO and President. Kevin Buchel will oversee daily operations, strategy execution, sales, marketing, and financial goals, while Soloway will focus on strategic initiatives, product innovation, industry relationships, and advising management. The Board said the transition positions NAPCO to pursue its strategic objectives and create long-term shareholder value. More on Napco Security Technologies, Inc. Napco Q3: Fair-Value Entry Point Before A Potential 2027 Inflection (Rating Upgrade) Napco Security Technologies, Inc. (NSSC) Q3 2026 Earnings Call Transcript Napco signals MVP recurring revenue to turn meaningful by October 2026 while targeting higher equipment margins Seeking Alpha’s Quant Rating on Napco Security Technologies, Inc. Historical earnings data for Napco Security Technologies, Inc.
A California man who swapped a library’s 17th century Chinese manuscript for a fake was jailed for a year on Wednesday after admitting to stealing a major artwork. Jeffrey Ying used a number of aliases to gain access to classic works, some over 600 years old, at the library of the University of California, Los Angeles (UCLA), the US Department of Justice said. Ying, 39, would check the works out a...
A California man who swapped a library’s 17th century Chinese manuscript for a fake was jailed for a year on Wednesday after admitting to stealing a major artwork. Jeffrey Ying used a number of aliases to gain access to classic works, some over 600 years old, at the library of the University of California, Los Angeles (UCLA), the US Department of Justice said. Ying, 39, would check the works out and return days later with dummy manuscripts. He would frequently travel to China shortly thereafter,...
Denis Shevchuk/iStock via Getty Images Natural Gas Service ( NGS ) said post-market Wednesday it expects to complete the redomestication of its state of incorporation from Colorado to Texas , effective on or about July 20. Natural Gas Service ( NGS ) said it will continue its existence as a Texas corporation under the same name, and the redomestication will not result in any change to its business...
Denis Shevchuk/iStock via Getty Images Natural Gas Service ( NGS ) said post-market Wednesday it expects to complete the redomestication of its state of incorporation from Colorado to Texas , effective on or about July 20. Natural Gas Service ( NGS ) said it will continue its existence as a Texas corporation under the same name, and the redomestication will not result in any change to its business, operations, management, strategy, assets, or the location of its offices or facilities. The company said its previously staggered board structure will be replaced with the annual election of directors, with all directors standing for election each year. " Redomesticating to Texas was a straightforward decision for NGS," CEO Justin Jacobs said. " Texas is where our headquarters are located, where our leadership team is based, and where much of our business is conducted... Texas also offers a strong business climate and corporate legal framework that we believe benefits NGS and our shareholders." More on Natural Gas Services Natural Gas Services: Raising My Target Price After Flatrock Acquisition Natural Gas Services: Flatrock Compression Acquisition Is Transformative Natural Gas Services-Flatrock Compression Ltd. M&A Call - Slideshow
Champions believed to be preparing £60m offer Fresh blow for Newcastle after loss of Gordon and Tonali Arsenal are ready to step up their interest in Bruno Guimarães, after the Brazil midfielder informed Newcastle that he wants to join the Premier League champions. Guimarães, who missed a penalty in Brazil’s defeat against Norway in the last 16 of the World Cup on Sunday, is understood to have his...
Champions believed to be preparing £60m offer Fresh blow for Newcastle after loss of Gordon and Tonali Arsenal are ready to step up their interest in Bruno Guimarães, after the Brazil midfielder informed Newcastle that he wants to join the Premier League champions. Guimarães, who missed a penalty in Brazil’s defeat against Norway in the last 16 of the World Cup on Sunday, is understood to have his heart set on a move to north London after Arsenal held talks with his representatives last month. Newcastle have yet to receive any contact from Arsenal but they are believed to be preparing an offer in the region of £60m. Continue reading...
Based on Zhipu's closing price of HK$1,610 per share on July 7, the market value of the unlocked shares is about HK$41.3 billion. Photo: VCG Shares of Chinese artificial intelligence startup Zhipu AI rose 13% after its post-IPO lockup period expired, defying expectations of selling pressure as most of its cornerstone investors pledged to keep their holdings. The rally underscored investor confiden...
Based on Zhipu's closing price of HK$1,610 per share on July 7, the market value of the unlocked shares is about HK$41.3 billion. Photo: VCG Shares of Chinese artificial intelligence startup Zhipu AI rose 13% after its post-IPO lockup period expired, defying expectations of selling pressure as most of its cornerstone investors pledged to keep their holdings. The rally underscored investor confidence in China’s leading generative AI developers, even as Hong Kong braces for about HK$240 billion ($30.6 billion) of newly tradable shares in July, a wave that could test market liquidity.