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Bitcoin Mining Stock Bitdeer Technologies Is Rising Thursday: What's Going On?
Bitdeer Technologies Group (NASDAQ:BTDR) shares are trading higher. The company on Thursday announced that it completed the testing of its latest Bitcoin (CRYPTO: BTC) mining chip. What To Know: Bitdeer said its Bitcoin mining chip SEAL02 has successfully gone through testing following tape-out. SEAL02 uses advanced process nodes in partnership with Taiwan Semiconductor Manufacturing Company Ltd (NYSE:TSM). Bitdeer noted that its latest chip showed an exceptional power efficiency ratio during testing and met the milestone that the company outlined in June. “We are thrilled about achieving SEALMINER’s power efficiency target as reflected in our roadmap. Our ongoing commitment to R&D is making...
Why NRG Energy Stock Is Trading Higher Thursday
NRG Energy Inc (NYSE:NRG) shares are trading higher Thursday after the company raised its full-year 2024 outlook. What Happened: After the market close on Wednesday, NRG Energy scheduled its third-quarter financial results and updated its 2024 guidance. The company raised its full-year 2024 adjusted EBITDA guidance from a range of $3.3 billion to $3.55 billion to a new range of $3.525 billion to $3.675 billion, representing an increase of $175 million at the midpoint. NRG Energy also raised its free cash flow before growth guidance from a range of $1.825 billion to $2.075 billion to a new range of $1.975 billion...
H.B. Fuller Misses Q3 Earnings Estimates On Weak Demand, Shares Tank
H. B. Fuller Company (NYSE:FUL) shares are trading lower after the company reported worse-than-expected third-quarter results and revised its FY24 guidance downwards. Net revenue of $917.93 million missed the consensus of $944.3 million. Organic revenue experienced modest growth, with pricing adjustments causing a 2.6% decline and volume contributing a 3.0% increase. Adjusted gross profit was $279 million, with an adjusted gross profit margin of 30.4%, representing a 40 basis point increase from the previous year. Gross profit was driven by volume leverage, restructuring savings, and benefits from acquisitions. Adjusted EBITDA rose 6% Y/Y to $165 million, fueled by volume growth, restructuring savings, and advantages from...
The $85 Million Penthouse Nobody Wanted – Except Former British Prime Minister Tony Blair
The convicted Chinese fraudster Guo Wengui, who used the aliases Ho Wan Kwok and Miles Kwok, is trying to sell his Manhattan penthouse again. It's listed for $24 million – way down from the original $86 million asking price. Guo was once accepted into the super exclusive co-op board at the Sherry-Netherland on Fifth Avenue. It's rumored that a glowing letter from former British Prime Minister Tony Blair, who had even dined in the apartment, helped him get in. Don't Miss: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." Here’s...
CMGE Makes A Global Play With Chinese-Themed Video Games
Key Takeaways: CMGE Technology announced it was buying the international rights to the game “The Legend of Sword and Fairy” from Taiwan’s Softstar Entertainment The Chinese gaming company looks to be speeding up an overseas push to offset intense competition in its home market By Fai Pui It has been an action-packed year for the producer of the hit game “Black Myth: Wukong”, an adventure story featuring a legendary ape-like hero. Since its release on Aug. 20, the title has injected new life into China’s battered gaming market and has blazed a trail for more Chinese-themed blockbusters to find a receptive overseas audience. Based on a...
Elon Musk Reiterates Support For Ex-President Amid SpaceX's Regulatory Tensions With FAA: 'Trump Or Doom'
Billionaire entrepreneur Elon Musk on Thursday reiterated that Donald Trump‘s election as President in the upcoming November elections will be integral to achieving his dreams of taking people to Mars. What Happened: “Trump or doom. This is the fork in the road of destiny,” Musk wrote on social media platform X on the heels of building tension between the Federal Aviation Administration (FAA) and his rocket manufacturing company SpaceX regarding delays in receiving regulatory approvals on the next test flight of its Starship launch vehicle. “America is being smothered by ever larger mountains of irrational regulations from ever more new...
What's Going On With Nvidia, Broadcom, Intel, And Other Chip Stocks On Thursday?
Semiconductor stocks especially linked to artificial intelligence led by Nvidia Corp (NASDAQ:NVDA), Advanced Micro Devices, Inc (NASDAQ:AMD), Intel Corp (NASDAQ:INTC), Broadcom Inc (NASDAQ:AVGO), Taiwan Semiconductor Manufacturing Co (NYSE:TSM), Arm Holdings Plc (NASDAQ:ARM), Qualcomm Inc (NASDAQ:QCOM) are trading higher Thursday in sympathy with Micron Technology, Inc’s (NASDAQ:MU). Micron’s upbeat fourth-quarter performance is pushing the sector higher. AI server company Super Micro Computer, Inc (NASDAQ:SMCI) has also gained momentum. On Wednesday, Micron reported quarterly revenue of $7.75 billion, up by 93%, beating the analyst consensus of $7.64 billion. This was driven by a strong ramp of its data center DRAM and high-bandwidth memory products. Also Read:...
Weekly Jobless Claims Lower Than Expected, Suggesting Labor Market Strength: Wall Street Set For Higher Open
The U.S. economy expanded by 3% in the second quarter, according to the third estimate released Thursday, up from the 1.4% growth seen in the first quarter and representing an no change from the government’s second estimate. This outcome continues to reflect the strength of the U.S. economy, marking the eighth consecutive quarter of growth. In a separate report released Thursday, initial jobless claims for the week ending Sept. 21 came in slightly below expectations, suggesting some improvement in labor market conditions. Q2 GDP Report (3rd Estimate) Key Highlights The U.S. real gross domestic product (GDP) grew at an annualized rate of 3%...
This Nordstrom Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Thursday
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page. Keybanc analyst Noah Zatzkin downgraded the rating for Nordstrom, Inc. (NYSE:JWN) from Overweight to Sector Weight. Nordstrom shares fell 2.5% to close at $22.64 on Wednesday. See how other analysts view this stock. Deutsche Bank analyst Derek Johnston downgraded Regency Centers Corporation (NASDAQ:REG) from Buy to Hold, but raised the price target from $70 to $75. Regency Centers shares fell 0.2% to close at $72.40 on Wednesday. See how other analysts view...
LeafLink's New Payment Option Is Vital For Cannabis Retailers Facing Financial Strain
Cannabis wholesale platform LeafLink announced its Payment on Sell Through (PoST) on Thursday. What Happened: The new payment option for cannabis wholesale guarantees payments to brands as retailers pay for what they sell. This is LeafLink's third payment option available on the platform, alongside Direct Pay and FlexPay. LeafLink acquired Dama Financial in July, to offer customers access to a reliable, secure and compliant banking solution. The new payment option is another significant step towards building a cannabis e-commerce ecosystem to help businesses operate more efficiently. Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox...
Why Is Pasithea Therapeutics Stock Surging On Thursday?
On Thursday, Pasithea Therapeutics Corp. (NASDAQ:KTTA) announced safety, tolerability, pharmacokinetic (PK), and preliminary efficacy data from the first 2 cohorts of patients (n=6) in its Phase 1 trial of PAS-004 in patients with MAPK pathway-driven advanced solid tumors with a documented RAS, NF1 or RAF mutation or patients who have failed BRAF/MEK inhibition. Pasithea stock is trading higher on a strong volume of 9.01 million versus an average of 17.3k as per data from Benzinga Pro. Pharmacokinetics (PK) Plasma exposure increased with an increase in dose, and linear PK was observed. A long half-life of approximately 70 hours will allow for once-daily dosing or longer...
As Biden Offers $8B In Aid To Zelenskyy, US Officials Remain Doubtful About Ukraine's Victory Plan Against Russia: 'Not Much New There'
In a surprising turn of events, the Biden administration has expressed skepticism about Ukraine’s strategy to combat Russia, despite a substantial military aid package. What Happened: President Volodymyr Zelenskyy is scheduled to present his war-winning plan to President Joe Biden on Thursday. However, the Biden administration is reportedly unimpressed, deeming the strategy merely as a rehashed plea for more weapons and the removal of constraints on long-range missiles, the Wall Street Journal reported on Thursday. Despite Zelenskyy’s persistent promotion of the plan as a roadmap to defeat Russia, U.S. and European officials with knowledge of its general outline see no clear path...
Mark Cuban As Treasury Secretary? No, 'Head Of The SEC' Is The Job He'd Take Because Gary Gensler Has Been 'Awful' For Crypto, Businesses
Billionaire entrepreneur Mark Cuban has voiced his interest in becoming the next Chair of the U.S. Securities and Exchange Commission (SEC), expressing dissatisfaction with the current SEC leadership, especially in its handling of cryptocurrencies and business regulations. What Happened: "Head of the SEC. That's the job I would take," Cuban said, in an interview with Fox News, emphasizing his desire to replace the current Chair, Gary Gensler. Cuban’s criticism centers on the regulatory agency’s approach to crypto, which he describes as “awful.” He believes the current SEC policies are stifling business growth, particularly in the crypto sector. “We've seen the number of...
Meta's AI Breakthroughs Dominate Connect Event As Analyst Highlights Affordable Mixed-Reality Push
Meta Platforms Inc. (NASDAQ:META) continues to excite investors and tech enthusiasts with its AI and AR advancements. The company's latest Meta Connect event highlighted innovations in its AI assistant, AR glasses, and more affordable mixed-reality headsets, signaling Meta's ambition to shape the future of computing. AI Assistant & Ad Tools: Early Wins JPMorgan analyst Doug Anmuth notes that Meta's AI developments are already driving tangible benefits, particularly in advertising. "1M+ advertisers are leveraging Gen AI ad tools, & Gen AI ad campaigns are resulting in 11% higher click-through rates & 7.6% higher conversion rates," he says. With over 400 million monthly active users,...
Salesforce Analyst Sees AI As A Tailwind, Stakeholders 'Fed Up' With Dual Mandate
As Salesforce Inc. (NYSE:CRM) navigates a complex demand landscape, optimism is brewing for the second half of 2024. JPMorgan analysts spoke to Salesforce partners, consultants and customers, and included feedback in a Wednesday research report. "The first half was quite tough," remarked a partner from a Salesforce-focused consulting firm. He anticipates an upswing as pressure mounts for increased software spending, especially among retail companies. Stakeholders are "fed up" with the dual mandate of cutting costs while driving sales, leading to a potential loosening of budget constraints amid fears of falling behind in the AI race. Shorter-Term, Lower-Cost Projects Are Here To Stay The trend towards...
Meta To Rally Around 12%? Here Are 10 Top Analyst Forecasts For Thursday
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page. Bernstein raised the price target for Starbucks Corporation (NASDAQ:SBUX) from $92 to $115. Bernstein analyst Danilo Gargiulo upgraded the stock from Market Perform to Outperform. Starbucks shares rose 1.2% to close at $95.62 on Wednesday. See how other analysts view this stock. JMP Securities increased the price target for Meta Platforms, Inc. (NASDAQ:META) from $550 to $635. JMP Securities analyst Andrew Boone maintained a Market Outperform rating. Meta shares gained 0.9% to...
What's Going On With Southwest Airlines Stock After Guidance Update?
Southwest Airlines Company (NYSE:LUV) shares are trading higher in the premarket session on Thursday. In an exchange filing, the company said it has authorized a new $2.5 billion share repurchase program. In connection with the new share repurchase program, the board terminated and replaced the company’s prior share repurchase program, which the board authorized in May 2019. Southwest highlighted that it is reducing headcount by controlled hiring, and labor cost certainty has been achieved. Also Read: Delta, Southwest And Other Airlines In Hot Waters With US Transportation Department For Unfair Rewards Programs For the third quarter, the company sees operating revenue per available seat mile...
Investors Charge Up XCHG Stock In Scaled-Back IPO
Key Takeaways: Shares of XCHG nearly tripled in their first week of trading after the company raised $20.7 million in its Nasdaq IPO The company’s revenue jumped 52% and its profit nearly quadrupled in this year’s first quarter, but it warned of a slowdown in the second quarter By Edith Terry Sept. 10 was a special day for Tesla veteran Hou Yifei as he rang the opening bell on the Nasdaq to mark the trading debut for his electric vehicle (EV) charging company XCHG Ltd. (NASDAQ: XCH), which also uses the XCharge name. An earlier attempt to list in February got a chillier reception, causing Deutsche...
Top 3 Materials Stocks You'll Regret Missing This Quarter
The most oversold stocks in the materials sector presents an opportunity to buy into undervalued companies. The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30, according to Benzinga Pro. Here's the latest list of major oversold players in this sector, having an RSI near or below 30. H.B. Fuller Company...
Disney Trims Workforce By 300, Targets Corporate Departments for Cost Management
Walt Disney Co (NYSE:DIS) has let go of at least 300 employees across multiple corporate departments. “We continually evaluate ways to invest in our businesses and more effectively manage our resources and costs to fuel the state-of-the-art creativity and innovation that consumers value and expect from Disney,” Variety cites a company representative. The layoffs affected human resources, legal, finance and other departments in the U.S. Also Read: Disney Faces ‘More Change Ahead’ As ESPN DTC Launch Will Accelerate Cord Cutting: NBA Rights, College Football Offer Upside, Analyst Says In July, Disney laid off about 140 employees in its television division, representing about 3% of...
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