In a significant move, MicroStrategy Inc. MSTR looks set to join the Nasdaq 100 index, prompting a major reconstitution of the index. This change, based on market cap rankings as of Nov. 29, will take effect after Dec. 20. What Happened : According to a report by Seeking Alpha, the inclusion of MicroStrategy, with its $94 billion market cap, will impact passive funds tracking the index, such as the Invesco QQQ Trust QQQ and the Invesco Nasdaq 100 QQQM . These funds, along with the Global X Nasdaq 100 Covered Call QYLD , will need to adjust their holdings to include MicroStrategy by Dec. 20. MicroStrategy’s entry into the NASDAQ 100 introduces Bitcoin exposure to passive investors, as the company holds nearly 2% of the Bitcoin supply. Known for issuing stock to purchase Bitcoin, MicroStrategy’s strategy could affect the index’s dynamics. See Also: MicroStrategy's Michael Saylor Calls Bitcoin The ‘Manhattan In Cyberspace,' Says It's An Asset You Could Expect To ‘Last 1,000 Years' The reconstitution may result in increased turnover and potential tracking errors for ETFs, as they will need to rebalance their portfolios to accommodate MicroStrategy’s growing market cap. This unique situation could lead to strategic trading opportunities for investors. Why It Matters : MicroStrategy’s potential inclusion in the NASDAQ 100 is a testament to its growing influence in the financial markets, particularly due to its aggressive Bitcoin strategy. Recently, Bernstein described MicroStrategy as a “Bitcoin magnet,” projecting it could hold 4% of the global Bitcoin supply by 2033. However, this strategy is not without risks, as some analysts caution about its long-term viability. Additionally, Michael Saylor , co-founder of MicroStrategy, recently revealed that the company is generating substantial profits from its Bitcoin holdings, reportedly making $500 million a day as Bitcoin nears $100,000. This has contributed to a surge in MicroStrategy’s stock, which has increased by 465% year-to-date, significantly impacting ETFs linked to its performance, as noted in a recent report . MicroStrategy’s recent $3 billion offering of 0% convertible senior notes, completed swiftly, underscores investor confidence in its strategy . These notes offer no interest but allow participation in the equity upside, reflecting the market’s appetite for exposure to MicroStrategy’s Bitcoin-driven growth. Price Action: Bitcoin was hovering at $96,776 at the time of writing, up by 0.46% in the last 24 hours, according to Benzinga Pro data. MicroStrategy’s stock closed at $387.47 on Friday, falling slightly by 0.35%. Year-to-date, the stock has gained 465%. The MicroStrategy stock has a consensus rating of “Buy,” according to Benzinga Pro data . The highest price target is $690, while the consensus price target is $449.50, implying a 16% upside. Read Next: Bitcoin, Ethereum, Dogecoin Simmer Down On Thanksgiving: Analyst Sees ‘Significant Shift’ From BTC Season To Alt Season Disclaimer : This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Photo courtesy: MicroStrategy © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Historic Shakespeare Ranch lists for 188MChampions League table: Inter and Atalanta close to qualificationThe Miami Hurricanes, who once appeared to be a near-lock for the College Football Playoff, are not playing for a national title. Instead, they will play in the Pop-Tarts Bowl in Orlando. That bowl berth against Iowa State is a let-down for fans with dreams of a sixth national title in their minds, as well as players hoping to compete for a championship. However, Miami’s trip to Orlando and the lead-up to it are still crucial periods for the Hurricanes for multiple reasons. First, it’s a chance for the program to achieve something it has not done in more than two decades: win 11 games. Although the 11th win won’t get them closer to a championship, it is a good sign of the program’s progress over Mario Cristobal’s tenure. It would also end UM’s five-game losing streak in bowls. “We’re not satisfied,” Cristobal said. “We want to win every single game. We won 10. We were close on the other two, but close isn’t good enough. We want progress. We’re hungry and driven to get better, and so that’s what our focus is on: to improving as a football program, to getting better, to moving into the postseason with an opportunity against a great football team like this and putting our best on the field.” There are signs the Hurricanes will show up at close to full strength for the bowl game. Running back Damien Martinez announced he was going to play, and star quarterback Cam Ward said in a video call posted on social media that he intends to play, as well. “We’re trying to win our first bowl game in 20 years,” Ward said in the video, mistaking the length of UM’s long bowl losing streak. “We’re going hard.” Playing in the bowl game also provides the opportunity for the Hurricanes to get in several practices between now and the game. That means Miami can develop its young players and prepare them for next season during both the practices and the bowl game itself. “It’s extremely valuable,” Cristobal said. “You really don’t have many opportunities throughout the course of the year — time is limited more and more each season with your student-athletes. I want to state this and be very clear: it’s very important, it’s ultra-important for the University of Miami to continue to develop and grow and progress by stressing the importance of offseason opportunities ... You learn a lot about your team and learn a lot about your people and your program when you head to the postseason.” Of course, there are potential negatives. Players can get hurt; Mark Fletcher Jr. suffered a foot injury in the Pinstripe Bowl last year that cost him all of spring practice. A poor performance can also potentially set the tone for next season, like how Florida State, fresh off a playoff snub last year, suffered a devastating loss against Georgia in the Orange Bowl and went on to a dismal 2-10 season this year. “This is the ending of ’24 and the beginning of ’25,” Cristobal said. “This is the last opportunity to be on the field and carry some momentum into the offseason. So it is, in essence, it is the most important game because it’s the next game. “There’s a lot of excitement in the form of opportunity for our guys. Our guys love to play football. The chance to play one more time with this special group — this is a special group of guys now. They’ve worked hard to really change the trajectory of the University of Miami, and they want to continue to elevate the status and the culture at the University of Miami. So certainly a ton to play for.” ©2024 South Florida Sun Sentinel. Visit at sun-sentinel.com . Distributed by Tribune Content Agency, LLC.
Key details to know about the arrest of a suspect in the killing of UnitedHealthcare's CEOIt didn't take Syracuse first-year coach Fran Brown long to figure out the key matchup for Saturday afternoon's Atlantic Coast Conference game visiting Miami. "Syracuse has a really good quarterback," Brown said of Kyle McCord, "and Miami has a really good quarterback (Cam Ward)." With a win on Saturday, the No. 6 Hurricanes (10-1, 6-1 ACC) can clinch a berth in the league championship game against SMU. Miami is a 10 1/2-point favorite for Saturday's game. Syracuse (8-3, 4-3) has reached eight wins for just the fourth time since 2002, going 8-5 in 2010 and 2012 and 10-3 in 2018. However, the Orange haven't defeated a Top-10 team since knocking off Clemson in 2017. Miami leads the nation in scoring (44.7), and the Hurricanes will count on perfect passing conditions in Syracuse's dome. That could be huge for Ward, who leads the nation with 34 touchdown passes, ranking second in passing yards (3,774) and fourth in passing efficiency. Ward's top target is wide receiver Xavier Restrepo, who needs just 21 yards to reach 1,000 for the second straight season. Restrepo also ranks tied for seventh in the nation with 10 TD receptions. Ward has some other top targets, including 6-foot-4, 245-pound tight end Elijah Arroyo, who is a walking mismatch because of his size and speed. He leads Miami with 18.5 yards per reception. Hurricanes wide receivers Isaiah Horton and Jacolby George have combined for 12 TD passes, and Sam Brown has added two more. Each of them has more than 500 receiving yards this season. Miami's running game features battering ram Damien Martinez (739 yards, 5.5 average, eight TDs); versatile Mark Fletcher Jr. (499 yards, 5.7 average, six TDs); and game-breaking freshman Jordan Lyle (361 yards, 8.6 average, four TDs). Defensively, Miami's big-play man is safety Mishael Powell, who ranks second in the ACC with five interceptions. "He's all about winning," Miami coach Mario Cristobal said of Powell. "He's a smart, self-starting team player." On special teams, Miami kicker Andres Borregales ranks second in the ACC with 97 points. He is 52-for-52 on extra points and 15-for-16 on field goals. Meanwhile, McCord ranks No. 1 in the nation in passing yards (3,946) and tied for seventh in TD passes (26). McCord, a transfer from Ohio State, has also set Syracuse's single-season record for passing yards. In last week's 31-24 win over Connecticut, McCord passed for a career-high 470 yards. However, McCord is just 46th in the nation in passing efficiency, due in part to his high total of interceptions (12). Syracuse also has three of the top six pass-catchers in the ACC in terms of yards: tight end Oronde Gadsden II (810) and wide receivers Jackson Meeks (801) and Trebor Pena (743). Gadsden, who is from the greater Miami area, has had three straight 100-yard games. He is the son of former Miami Dolphins wide receiver Oronde Gadsden. Syracuse's run game is led by LeQuint Allen, who has rushed for 819 yards, a 4.3 average and 12 TDs. The issue for Syracuse could be its defense, which ranks 13th in the ACC in points allowed (27.8). Miami's defense is fourth (22.3). Even so, Syracuse coach Brown said he's excited about this matchup. "I heard Miami is going to come deep," Brown said of Miami fans. "It's going to be intense in the stands. It's going to be intense on the field. I think this is a game everyone wants to see." --Field Level Media
Republican Miller-Meeks Wins Reelection After Recount in Close Iowa Congressional RaceNASSAU, Bahamas (AP) — Javon Small scored five of his 31 points in overtime and Tucker DeVries added key free throws late in regulation and finished with 16 points as West Virginia beat No. 3 Gonzaga 86-78 in the Battle 4 Atlantis on Wednesday. Small's layup with under 2 minutes left in OT gave West Virginia a 79-75 lead. After a Gonzaga miss, Sencire Harris hit two free throws to make it a six-point lead. With 27.1 seconds left, Harris made a steal and scored on a dunk for an eight-point lead, putting the game out of reach. Amani Hansberry scored a career-high 19 points and Toby Okani added 10 for West Virginia (3-2). Braden Huff scored 19 points and Khalif Battle 16 for Gonzaga (5-1). Takeaways Gonzaga showed its depth, outscoring the West Virginia bench 30-2. West Virginia’s only loss was by 24 points at Pitt, but the rebuild under Darian DeVries is showing promise. Key moment Gonzaga turned it over at midcourt late in regulation when Tucker DeVries poked it away from Nolan Hickman and raced the other way before getting fouled. DeVries made two free throws with 5.9 seconds left to tie it at 71-all. Battle inbounded the ball and got it back, but lost control on a drive as time expired. Key stats The shorter Mountaineers outrebounded Gonzaga 42-36 and shot 50% in the second half, battling the Zags to a draw in the paint. Nembhard had 12 assists and just one turnover in 43 minutes, but was 1 of 10 from the field. Up next West Virginia will play Louisville on Thursday in the winner's bracket. Gonzaga faces No. 14 Indiana on the consolation side. ___ Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP college basketball: https://apnews.com/hub/ap-top-25-college-basketball-poll and https://apnews.com/hub/college-basketball
FBI director Christopher Wray has said he plans to resign at the end of President Joe Biden’s term in January, an announcement that came a week and a half after President-elect Donald Trump announced his intention to nominate loyalist Kash Patel for the job. At a town hall meeting with the bureau workforce, Mr Wray said he would be stepping down “after weeks of careful thought”. Mr Wray’s intended resignation is not unexpected considering that Mr Trump had picked Mr Patel for the role in his new administration. Mr Wray had previously been named by Mr Trump and began the 10-year term — a length meant to insulate the agency from the political influence of changing administrations — in 2017, after Mr Trump fired then-FBI director James Comey. Mr Trump had demonstrated his anger with Mr Wray on multiple occasions, including after Mr Wray’s congressional testimony in September. “My goal is to keep the focus on our mission — the indispensable work you’re doing on behalf of the American people every day,” Mr Wray told agency employees. “In my view, this is the best way to avoid dragging the bureau deeper into the fray, while reinforcing the values and principles that are so important to how we do our work.” Mr Wray continued: “It should go without saying, but I’ll say it anyway — this is not easy for me. I love this place, I love our mission, and I love our people — but my focus is, and always has been, on us and doing what’s right for the FBI.” Mr Wray received a standing ovation following his remarks before a standing-room-only crowd at FBI headquarters and some in the audience cried, according to an FBI official who was not authorised to discuss the private gathering and spoke on condition of anonymity to The Associated Press. Mr Trump applauded the news on social media, calling it “a great day for America as it will end the weaponisation of what has become known as the United States Department of Injustice” and saying that Mr Patel’s confirmation will begin “the process of Making the FBI Great Again”. If confirmed by the Senate, Mr Patel would herald a radical leadership transformation at the nation’s premier federal law enforcement agency. He has advocated shutting down the FBI’s Washington headquarters and called for ridding the federal government of “conspirators”, raising alarm that he might seek to wield the FBI’s significant investigative powers as an instrument of retribution against Mr Trump’s perceived enemies. Mr Patel said in a statement Wednesday that he was looking forward to “a smooth transition. I will be ready to serve the American people on day one”.Quarterbacks in spotlight when No. 6 Miami visits SyracuseO’Shea stands by decision to keep playing Collaros after QB was hurt in Grey Cup
Syrian government services come to ‘complete halt’ as workers stay at home
Fifa has published a long-awaited report it commissioned into the legacy of the 2022 Qatar World Cup, but has failed to implement its key recommendation. The governing body's sub-committee on human rights and social responsibility concluded that Fifa "has a responsibility" to contribute to compensation for workers harmed by the tournament's preparation and delivery. "There are workers who have contributed to the resounding success of the World Cup... who have not yet benefited from any, or any adequate remediation," it says. The committee advises Fifa to "to dedicate the World Cup 2022 legacy fund in full or in part to further strengthen the competition's legacy for migrant workers". Fifa unveiled a £39.4m 'legacy fund' earlier this week, but it did not include compensation for workers impacted by the tournament, drawing criticism from human rights campaigners . The report - which was commissioned in March 2023 - was submitted last December but Fifa has waited almost a year to release it. The findings are based on independent research that found "a number of severe human rights impacts did ultimately occur in Qatar from 2010 through 2022 for a number of workers connected to the 2022 World Cup. This included: deaths, injuries and illnesses; wages not being paid for months on end; and significant debt faced by workers and their families reimbursing the fees they paid to obtain jobs in Qatar". It adds that "the due diligence measures put in place by Fifa and its partners did not prevent these severe impacts from occurring...a credible argument can be made that Fifa contributed to some of the impacts". It concludes that "Fifa and other organisations who participated in the delivery of the World Cup... have a shared responsibility... to make remedy available to workers impacted". Controversy over the human cost of building the infrastructure required for the 2022 tournament in the gulf state's extreme summer heat has hung over the event for years. In 2021, it was revealed that 6,500 migrant workers from India, Pakistan, Nepal, Bangladesh and Sri Lanka had died in Qatar since it won its bid to host the World Cup in 2010. The Qatari government said not all the deaths recorded were of people working on World Cup-related projects, and that many could have died from old age or other natural causes. During the event, organisers said the number of migrant workers who died on World Cup-related projects was "between 400 and 500". Qatar introduced labour reforms from 2017, with more protection for workers, a minimum wage, and the dismantling of the controversial 'kafala' sponsorship system, but there have been long-standing concerns over the implementation of the changes. Despite generating a record £6bn from the World Cup, Fifa resisted calls from campaigners, players’ unions, fan representative groups and some European football federations for a £350m compensation fund for the families of workers who were injured or who had died, instead committing instead to the legacy fund. Human rights campaign group Amnesty said: "It is no mystery why Fifa has sought to keep this independent report hidden for so long - it clearly concludes that the organisation has a responsibility to ensure remedy including compensation to hundreds of thousands of workers who suffered abuses connected to the 2022 World Cup. "It validates what human rights organisations, trade unions, fans, and now even Fifa’s own human rights sub-committee have been saying - it is time for Fifa to pay up." The Fair Square campaign group said: "Fifa has plumbed new depths this week. Its 'legacy fund' offers nothing for the workers who suffered building the tournament, completely ignoring the advice of its own expert human rights report." In response, Fifa said: "All reports and recommendations were considered during a comprehensive review by the Fifa administration and relevant bodies. "While all recommendations could not be met, practical and impactful elements were retained. It should be noted that the study did not specifically constitute a legal assessment of the obligation to remedy. "The creation of the World Cup 2022 Legacy Fund was unanimously endorsed by the Fifa Council... A Workers’ Support and Insurance Fund was established in Qatar in 2018 and Fifa believes the new Legacy Fund, endorsed by recognised international agencies, is a pragmatic and transparent initiative that will encompass social programmes to help people most in need across the world."UNT_Sheffield 14 pass from C.Morris (Nguma kick), 12:19. UNT_FG Nguma 36, 12:01. TEM_FG Trujillo 44, 4:49. UNT_McGill 39 run (Nguma kick), 3:02. UNT_McGill 51 run (Nguma kick), 14:52. TEM_Jo.Smith 1 run (Trujillo kick), 4:04. TEM_Simon 1 run (Trujillo kick), :56. RUSHING_North Texas, McGill 14-155, Sibley 9-41, Porter 11-36, Morris 2-17, Coleman 1-8, (Team) 1-(minus 4). Temple, J.Smith 8-39, T.Stewart 3-28, Douglas 7-18, Evert 1-2, Worthy 3-2, (Team) 1-(minus 1), Simon 6-(minus 11). PASSING_North Texas, Morris 21-40-0-180. Temple, Simon 27-44-1-268. RECEIVING_North Texas, Coleman 8-32, Sheffield 4-47, Conwright 3-41, Sides 1-23, Carnes 1-12, Kautai 1-11, Ward 1-7, B.Young 1-4, McGill 1-3. Temple, Allen 6-62, Adams 4-63, T.Stewart 4-58, A.Jones 4-18, Della Pesca 3-28, J.Taylor 2-12, Evert 1-18, Hollawayne 1-4, Worthy 1-3, J.Smith 1-2. MISSED FIELD GOALS_North Texas, Nguma 29. Temple, Trujillo 38.
Small caps just had their first historic week in three years, and one exchange-traded fund expert predicts the group's record highs will help drive investors back into the group. "Small caps are going to become more in favor in 2025," VettaFi's Todd Rosenbluth said on CNBC's "ETF Edge" this week. "They started to perk up since the election and heading into the election as interest rates have been coming down." Rosenbluth, the firm's head of research, expects ETF funds specializing in small caps to reap the benefits of investors looking to broaden out their market exposure. The Russell 2000 , which tracks small-cap stocks, hit its first record high since November 2021 this week and just saw its best monthly performance since last December. The index is up almost 11% in November and 35% over the past 52 weeks as of Friday's close. Rosenbluth suggests some profit taking in the " Magnificent Seven " stocks, which include Apple , Microsoft , Alphabet , Amazon , Nvidia , Meta Platforms and Tesla , will benefit small caps. He also expects investors to rotate out of money market accounts due to the effects of the Federal Reserve's interest rate easing policy. "We expect some more dispersion in the winners," Rosenbluth said. Rosenbluth cited the iShares Core S&P Small-Cap ETF and the VictoryShares Small Cap Free Cash Flow ETF as potential ways to play strength in small caps. The Core S&P Small-Cap ETF is up 11% in November while the VictoryShares' fund is up almost 8%.
A role reversal doomed the No. 22 Xavier Musketeers in their only loss of the season, against Michigan at the Fort Myers Tip-Off on Wednesday. Normally a team that avoids committing turnovers and pressures its opponent into making them, Xavier (6-1) will try to recapture its early-season winning form when it hosts South Carolina State on Sunday in Cincinnati. Through their six wins, the Musketeers had just 58 turnovers while forcing 82 by their opponents. But against the Wolverines, they lost the turnover battle 19-10 and the game 78-53. The Musketeers committed 14 turnovers in the first half and fell behind 41-30. Xavier head coach Sean Miller credited his team for typically playing an up-tempo style while avoiding mistakes, while also acknowledging that the turnover bug really bit them against the Wolverines. "We lost to a really good team; no shame in that," Miller said. "We, on top of that, didn't play well." "And that (avoiding turnovers) is something you (usually) do well? That's going to be hard to overcome against a quality team like Michigan." Leading scorer Ryan Conwell (17.6 points per game) gave the Musketeers a boost with 19 points. Zach Freemantle, second on the team at 15.4 ppg, added 14 points and 10 rebounds. Problematically, however, they also contributed to the turnover problem with three apiece. "We didn't play well enough to win the game," Miller said. "The game got out of hand. It's not like our guys quit. Their depth just continued to wear on us." The Musketeers also get 11 points and a team-high 4.4 assists per game from Dayvion McKnight. The guard had just one turnover against Michigan, but he also made just one of his eight shot attempts. Xavier may have an opportunity get right in the turnover area against the Bulldogs (4-4), who are No. 207 in the NCAA in assist-to-turnover ratio at 1.11. South Carolina State is fresh off an 82-53 road loss to Marshall on Wednesday, in a game in which turnovers weren't a huge problem. But assists and made shots were hard to come by for the Bulldogs. Leading scorer Drayton Jones (12.0 ppg) again paced his team in points with 10 vs. Marshall, but the Bulldogs as a team managed just six assists and shot terribly at the 3-point (18.8 percent) and the free-throw (47.1 percent) lines. Jones is also the team's leading rebounder with 5.1 a game, but no Bulldogs player is averaging more than two assists. It's all part of the learning process for coach Erik Martin, whose first team went 5-26 in 2022-23. The Bulldogs improved to 14-18 last season, including 9-5 in the Mid-Eastern Athletic Conference. "The only way you can grow sometimes is by failure or by struggling," Martin said this offseason. "You have to fail in order to learn how to deal with failure and move on and become the person you're supposed to be." --Field Level Media