As Tropical Storm Lorenzo weakens over the Atlantic, meteorologists are closely monitoring several tropical waves, one of which could potentially develop into the next named storm, Melissa. According to the National Hurricane Center's latest advisory, Lorenzo is expected to dissipate by October 16. As of October 15, the storm was located approximately 1,365 miles west-northwest of the Cabo Verde Islands, moving north-northeast at 14 mph with maximum sustained winds of 40 mph.