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Billionaire philanthropist MacKenzie Scott announced a transformative $42 million donation to Elizabeth City State University, a historically Black college and university in northeastern North Carolina, marking one of the largest gifts in the institution’s 135-year history.

Chancellor S. Keith Hargrove Sr. revealed the gift during the university’s Founders Day Convocation on Friday, March 13, 2026, eliciting cheers from attendees celebrating the school’s legacy. The unrestricted contribution ranks as the largest dollar-per-student gift among Scott’s recent donations to HBCUs and nearly triples the $15 million she gave ECSU in 2020.

“This gift allows institutions like Elizabeth City State University to move boldly toward the future while remaining grounded in the mission to educate, empower, and elevate students,” Hargrove said in the university’s official announcement. “Her investment affirms what we already know: that institutions like ECSU are powerful catalysts for change.”

Elizabeth City State University, founded in 1891 as a teacher-training school for Black students, enrolls around 2,000 undergraduates, primarily from North Carolina and surrounding areas. The school offers programs in aviation — the only four-year aviation degree at an HBCU in the state — alongside strong offerings in business, arts, STEM, and education. The donation arrives as ECSU advances its five-year strategic plan, ASCEND 2030, focused on student success, academic innovation, and infrastructure improvements.

Scott’s gift will fund endowed scholarship programs to support student learning and retention, establish resources for innovative academic initiatives, enhance athletic programs, and address critical campus infrastructure needs. University officials emphasized the funds’ flexibility, allowing ECSU to prioritize areas of greatest impact without donor restrictions — a hallmark of Scott’s philanthropy.

The contribution underscores Scott’s ongoing commitment to HBCUs. Since 2020, she has directed hundreds of millions to these institutions, with 2025 seeing over $1.1 billion in gifts to HBCUs, tribal colleges, community colleges, and organizations promoting college access for underserved students. Her total lifetime giving exceeds $26 billion, with $7.2 billion donated in 2025 alone — the highest annual total since she began publicizing her philanthropy.

Scott, former wife of Amazon founder Jeff Bezos, has adopted a low-profile, high-impact approach. She identifies recipients through research and recommendations, often making large, unrestricted grants to organizations she believes can drive systemic change. Her focus includes equity, education, economic mobility, and community strength — priorities that align closely with HBCUs’ missions.

For ECSU, the timing proves pivotal. The university navigates challenges common to many small public institutions, including enrollment pressures and funding constraints. Hargrove highlighted the gift’s role in accelerating progress toward strategic goals, from expanding scholarships to modernizing facilities.

Community and state leaders praised the announcement. North Carolina Gov. Roy Cooper shared congratulations on social media, noting the donation’s significance for ECSU and HBCUs statewide. Local media and HBCU advocacy outlets described it as a “blockbuster” boost for the Viking Nation.

Scott’s pattern of repeat giving — this marks her second major gift to ECSU — reflects confidence in the university’s stewardship. In 2020, her $15 million contribution supported similar priorities during the pandemic recovery.

The donation drew widespread coverage from outlets including Forbes, HBCU GameDay, The Daily Advance, and university-affiliated channels. Social media buzz highlighted Scott’s reputation as a leading force in philanthropy, with some calling her the “greatest billionaire of all time” for her giving scale.

As Scott continues her quiet but prolific campaign, this gift reinforces her belief in the power of targeted investments in higher education. For Elizabeth City State University, the $42 million infusion promises lasting impact, enabling expanded opportunities for generations of students.

The university plans to provide further details on allocation as implementation begins. In the meantime, ECSU celebrates a milestone that strengthens its role as a beacon of opportunity in northeastern North Carolina.

GameStop Corp. (NYSE: GME) shares closed lower on Friday, March 13, 2026, reflecting continued choppiness in the meme stock landscape amid broader market pressures from geopolitical tensions and energy volatility. The stock ended the session at $23.53, down $0.90 or 3.68% from the previous close, on volume of approximately 6.35 million shares.

The day’s trading saw GME open at $24.30, reach a high of $24.74, and dip to a low of $23.50 before settling. After-hours trading remained flat at $23.53 with minimal movement. The decline contributed to a mixed week for the retailer, which has shown resilience in 2026 compared to other meme names but faces persistent questions about its core business transformation.

Year-to-date, GME remains up roughly 17-23% from its 2025 year-end close around $20, outperforming peers like AMC Entertainment (down significantly) and others in the speculative space. Analysts attribute the relative strength to renewed short-squeeze speculation, CEO Ryan Cohen’s aggressive capital allocation strategy, and persistent retail investor interest despite the company’s shrinking physical footprint.

GameStop’s transformation under Cohen continues to dominate headlines. The company has accelerated store closures in 2026, with reports indicating over 470 locations shuttered or slated for shutdown across 43 states in recent months. This follows fiscal 2025 closures and aligns with Cohen’s pivot toward a leaner operation, potentially focusing on e-commerce, collectibles, and strategic investments. The moves aim to cut costs amid declining traditional retail sales for video games and hardware.

In January 2026, widespread reports detailed hundreds of closures, sparking debates about the retailer’s long-term viability. However, Cohen has doubled down personally, purchasing additional shares and benefiting from a long-term incentive program that could grant him options tied to ambitious milestones — including $10 billion in EBITDA and a $100 billion market cap. Achieving those targets would represent a massive windfall but require extraordinary growth.

Recent buzz centers on acquisition speculation. Media outlets in early March highlighted Cohen’s interest in a “very big” deal involving a publicly traded consumer company, with unconfirmed chatter pointing to targets like eBay. Such M&A potential has fueled bullish sentiment on social platforms and among retail traders, contrasting with bearish views on fundamentals.

Fundamentally, GameStop reported better-than-expected quarterly results in late 2025, but revenue trends remain challenged by digital shifts in gaming. The company’s cash position — bolstered by prior equity raises — provides flexibility for pivots, though critics question sustainability without major catalysts.

Technical indicators show GME trading near its 52-week range of roughly $19.93 to $35.81, with the current level well below the 2025 peak. Short interest remains elevated compared to non-meme stocks, keeping squeeze narratives alive, though volatility has moderated from 2021 peaks.

Broader market context influenced Friday’s move. The Dow Jones Industrial Average fell amid Middle East tensions and oil price swings, pressuring risk assets. Meme stocks often amplify such sentiment, with GME showing outsized swings.

Analyst coverage stays limited and mixed. Consensus price targets hover lower — around $13-26 in some models — reflecting skepticism on long-term profitability. Bullish scenarios project higher averages if acquisitions or operational turns materialize, while bearish outlooks warn of further declines if retail trends worsen.

Retail communities on platforms like Reddit continue monitoring closely, with discussions blending optimism over Cohen’s vision and caution about execution risks. The stock’s meme status ensures high visibility, with any news — from insider buys to closure updates — capable of sparking rapid moves.

As markets reopen Monday, March 16, traders will watch for weekend developments in geopolitics or company-specific updates. GME’s path in 2026 hinges on balancing cost-cutting with growth initiatives amid a volatile environment.

For now, the stock trades as a high-risk, high-reward play, emblematic of retail-driven speculation in an era of shifting consumer habits and corporate reinvention.

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

The Dow Jones Industrial Average finished modestly lower on Friday, March 13, 2026, as investors grappled with escalating U.S.-Iran tensions, surging oil prices, and broader market concerns over inflation and economic stability. The blue-chip index closed at 46,558.47, down 119.38 points or 0.26%, capping a volatile week marked by three consecutive sessions of declines and the third straight weekly loss for major benchmarks.

Trading volume reached approximately 453.26 million shares, with the index fluctuating in a day’s range from 46,494.63 to 47,123.99. The performance reflected ongoing uncertainty in global energy markets following recent military developments in the Middle East, including U.S. strikes and a partial blockade affecting the Strait of Hormuz. Crude oil prices climbed, stoking fears of persistent inflation and prompting a flight to safety assets like the U.S. dollar.

The Dow’s retreat aligned with broader market weakness. The S&P 500 shed 0.61% to settle at 6,632.19, while the Nasdaq Composite dropped 0.93% to 22,105.36. Year-to-date, the Dow remains positive but has erased much of its earlier 2026 gains, trading well below January highs near 50,000. The index’s 52-week range spans 36,611.78 to 50,512.79, underscoring recent volatility.

Geopolitical factors dominated sentiment. Defense Secretary announcements of expanded strikes against Iranian targets intensified worries about prolonged conflict and supply disruptions. Oil’s ascent pressured energy-sensitive sectors, though some analysts noted potential benefits for U.S. producers like Chevron, which saw gains in prior sessions amid higher crude. Software and tech names led declines, with Salesforce down 3.25%, Apple off 2.15%, and Microsoft slipping 1.57%. On the upside, Boeing rose 2.56%, UnitedHealth gained 1.79%, and Verizon added 1.42%.

The week’s performance highlighted a shift in investor focus from earlier optimism — fueled by hints of de-escalation and oil pullbacks — to renewed caution. Earlier in March, the Dow had rallied on signals the conflict might resolve swiftly, erasing intraday losses and closing higher on select days. By mid-month, however, persistent energy volatility and disappointing economic data contributed to the pullback.

Analysts from CNBC, Investopedia, and Trading Economics pointed to stagflation risks, with high energy costs forcing repricing of Federal Reserve rate expectations. Despite weak Q4 GDP readings, bond yields climbed, hitting credit-sensitive areas hardest. The S&P 500 posted a 1.6% weekly loss, entering its first three-week losing streak in about a year, while the Dow fell roughly 2% over the period.

Market watchers noted sector rotation amid the turmoil. Defense and energy stocks showed relative strength in spots, while growth-oriented tech lagged. Adobe plunged sharply in recent sessions on guidance misses and leadership changes, amplifying Nasdaq pressure.

Looking ahead, markets eye next week’s data, including potential Fed signals and further geopolitical updates. Futures trading suggested continued choppiness, with E-mini Dow contracts reflecting the recent slide. The index’s price-weighted structure — emphasizing higher-priced components — amplified moves in stocks like UnitedHealth and Goldman Sachs during the week’s swings.

The Dow Jones Industrial Average, comprising 30 major U.S. companies across sectors (excluding transportation and utilities), serves as a key barometer of blue-chip performance. Maintained by S&P Dow Jones Indices, it remains a go-to gauge despite criticisms favoring broader measures like the S&P 500.

For investors, the current environment underscores diversification amid uncertainty. While the index hovers near 46,500, historical resilience suggests potential recovery if tensions ease or oil stabilizes. Traders monitor support levels around recent lows, with resistance near 47,000.

As of Sunday evening in Asia (markets closed for the weekend), no major after-hours developments altered the Friday close. Pre-market indications for Monday, March 16, will depend on weekend news from the Middle East and economic releases.

The Dow’s recent trajectory reflects broader 2026 themes: initial post-election optimism giving way to reality checks from global risks. With the year one-quarter complete, volatility persists as investors balance growth prospects against external shocks.

Whether the index rebounds or extends losses hinges on conflict resolution and energy dynamics. For now, caution prevails in equity markets.

Where Americans live can make a striking difference in what they pay to keep the lights on, with typical monthly electric bills in some states more than triple those in others.

The latest figures from the U.S. Energy Information Administration put the national average residential electricity price at 17.24 cents per kilowatt-hour, up 6% from a year earlier, based on average residential prices and an assumed monthly household use of 900 kilowatt-hours, a common benchmark for a typical home.

AMERICANS HIT WITH SOARING ELECTRICITY BILLS AS PRICE HIKES OUTPACE INFLATION NATIONWIDE

North Dakota has the lowest average residential rate in the country at 11.02 cents per kilowatt-hour, while Hawaii has the highest at 41.62 cents per kWh. 

But Hawaii’s island geography makes it something of an outlier, leaving California, Rhode Island, Massachusetts and New York among the clearest mainland examples of high electricity costs. Nebraska, Idaho, Oklahoma and Arkansas also rank among the cheapest states.

GAS PRICES SURGE, PINCHING AMERICANS AND HANDING THE GOP A NEW MIDTERM HEADACHE

Among mainland states, California is one of the most expensive, highlighting how widely electricity costs can differ by location.  (Mark Felix/Bloomberg via Getty Images / Getty Images)

Those differences are not spread evenly across the country. Many of the lower-cost states are clustered in the Plains and parts of the South, while some of the highest prices are concentrated in the Northeast and on the West Coast.

For households already strained by inflation, those differences can translate into a meaningful monthly burden, especially in places where heavy air conditioning or heating use pushes consumption higher. 

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Power transmission lines near Austin, Texas, US, on Thursday, June 13, 2024. ( Jordan Vonderhaar/Bloomberg via Getty Images / Getty Images)

The wide gap reflects factors that go beyond politics, including fuel mix, weather, regulation, infrastructure costs and household energy use.

For consumers, however, the bottom line is simple: where they live can have a major impact on one of the few monthly bills they cannot easily avoid.

The Trump administration invoked the Defense Production Act to order an oil company to restart shuttered offshore operations in California, saying the move is necessary to address oil supply disruption risks and reduce reliance on foreign crude.

Energy Secretary Chris Wright on Friday directed Sable Offshore Corp., an oil and gas company headquartered in Houston, to restore operations at the Santa Ynez Unit and the Santa Ynez Pipeline System off the coast of Santa Barbara, according to a statement from the Department of Energy (DOE).

The order prioritizes restarting oil production and pipeline capacity to move crude through the Las Flores Pipeline System to Pentland Station, a key inland hub for transporting offshore oil to refineries, and into interstate pipelines.

“California once supplied nearly 40 percent of U.S. oil production, but decades of radical state policies targeting reliable energy sources have driven a decline in domestic output while fuel demand remains among the highest in the nation,” the DOE said. “Today, more than 60 percent of the oil refined in California comes from overseas, with a significant share traveling through the Strait of Hormuz—presenting serious national security threats.”

BURGUM CALLS CALIFORNIA A ‘NATIONAL SECURITY RISK’ AS ENERGY CHIEF WARNS BLUE STATES ARE SKEWING COST AVERAGES

Platform B, an offshore oil and gas platform operated by DCOR, LLC, stands in the Dos Cuadras Field off the coast of Santa Barbara, California, on Jan. 15, 2024. (Eric Thayer/Bloomberg via Getty Images / Getty Images)

The agency said Sable’s facility can produce about 50,000 barrels of oil per day, roughly a 15% increase in California’s in-state oil production, and could replace about 1.5 million barrels of foreign crude each month.

“Today’s order will strengthen America’s oil supply and restore a pipeline system vital to our national security and defense, ensuring that West Coast military installations have the reliable energy critical to military readiness,” Wright said in a statement.

The directive, issued under authorities delegated through the Defense Production Act and related executive orders, also seeks to ensure that oil produced off California’s coast can more efficiently reach domestic refineries.

NEWSOM KNOCKED FOR ‘INSANE’ CALIFORNIA GAS PRICES AFTER BLAMING TRUMP FOR RISING COSTS

Satellite view of oil platforms off Santa Barbara’s coast, including the Carpinteria Offshore Oil Field, Rincon Oil Field and Rincon Island, an artificial drilling site built in 1958, seen in the Santa Barbara Channel on Jan. 20, 2025. (Gallo Images/Orbital Horizon/Copernicus Sentinel Data 2025 via Getty Images / Getty Images)

California Gov. Gavin Newsom condemned the order Friday, calling the Trump administration’s use of the Defense Production Act “reckless and illegal” and pledging to fight the directive.

His office argued that restarting the Sable Offshore pipeline would have little effect on global oil prices, citing estimates that its output would represent roughly 0.05% of total oil production.

HOUSE GOP URGES TRUMP TO CHOKE OFF IRAN ALLY’S OIL PROFITS AS MIDDLE EAST TURMOIL SPIKES US GAS PRICES

Oil platforms stand off the coast of Santa Barbara, California, on Jan. 15, 2024. (Eric Thayer/Bloomberg via Getty Images / Getty Images)

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The governor also pointed to the pipeline’s history, noting that a 2015 spill near Refugio State Beach released more than 140,000 gallons of crude oil and caused widespread environmental and economic damage along the Santa Barbara coast.

“California will not stand by while the Trump administration attempts to sacrifice our coastal communities, our environment, and our $51 billion coastal economy,” Newsom said in a statement. “The Trump administration and Sable are defying multiple court orders, and we will see them back in court.”