Reston 85 right now in northwest washington money news on WTOP 10 and 40 past the hour brought to you by PenFed great rates for everyone 40 Jeff Claybaugh AMC theaters stock has lost a third of its value today after a judge approved AMC's plan to convert its preferred shares to common stock AMC issued preferred shares a year ago it raised billions of dollars during the pandemic by selling new stock there are lots of sports betting apps las vegas -based win resorts says there are too many it is shutting down win its bet sports wagering app at almost all markets including Virginia Apple is expected to unveil an updated Apple watch next month's new features reportedly include a blood pressure monitor the first Apple watch came out 10 years ago that's why it's calling the 10th anniversary watch the Apple X watch the Dow is down 21 points the S &P 500 is up 14 the Nasdaq is up 77 Jeff Clabel WTOP news Jeff thank you 1242 he was known as the godfather of black music and a athletes and politicians Clarence Avant is dead at the age of 92 we have to love him now Morel Williams paid tribute to Clarence Avant on his song letter to my born godfather in a segregated hospital in North Carolina Avant broke in as a manager in nineteen the fifties with clients like Lalo Shiffrin who to Mission Impossible Sarah Vaughan Little Willie John he'd go on to work with numerous others including athletes like Jim Brown who went from football to acting two years ago his wife was murdered in their Beverly Hills home Avant died Sunday at his home in Los Angeles according to family I'm Julie Walker. The DC Black Film Festival returns to Barracks Row in Southeast this weekend the seventh annual event celebrates movies by or about people of African descent. More from WTOP entertainment editor Jason Fraley. Honestly I think it's gonna be like one of those things Jason where like DC comes out and represents and it's gonna be loud in the theater and it's gonna be packed it's gonna be fun. Founder Kevin Sampson invites you to watch a chocolate lens. Stephen Cummings takes a photographic journey through a disappearing black Washington that gentrification over time. You'll also see Outside Line. It focuses on Raja Karuth who is one of the few black NASCAR drivers. It's just fun a really documentary to watch. The DC Black Film Fest runs Friday and Saturday at the Miracle Theatre. Jason Fraley, WTOP News. Up ahead on WTOP, how are colleges trying to create racial diversity their on campuses after the Supreme Court ruling on affirmative action. It's 1244. What's summer without a trip to the beach? Elevate the journey with style from behind the wheel of your ultimate BMW at the summer on sales event. Experience an inspired performance in class defining style in the four series Grand Coupe or make the most of the versatile BMW X5 with everything you need to make the trip to the beach one to remember. Just be sure to arrive before all the beach chairs are gone. BMW the ultimate driving machine. Get a credit