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Bitcoin, Ethereum Muted, Dogecoin Rallies As Market Maintains 'Greed' Sentiment: Analyst Predicts New Peak For King Crypto As US Elections And Potential Fed Rate Cut Looms
Bitcoin and Ethereum continued trading flat even as equities notched fresh record highs. However, Dogecoin moved higher on Thursday. What Happened: Bitcoin wiggled in a narrow range of $66,800-$67,400 for much of the day before kissing $68,000 overnight. The world's largest cryptocurrency was up over 12% in the last week. Dogecoin spiked over 8% in the last 24 hours, extending a bullish trajectory that has seen the world's biggest meme coin gain around 26% over the week. Notably, on Thursday, Tesla and SpaceX CEO Elon Musk referenced the Department of Government Efficiency (DOGE) during a town hall in Pennsylvania, where he expressed...
Elon Musk Touts 'DOGE' Agency While Endorsing Trump During Pennsylvania Town Hall — Dogecoin Goes Soaring Over 8%
Elon Musk, CEO of Tesla Inc. and owner of social media platform X, threw his support behind former President Donald Trump during a campaign town hall on Thursday while floating the idea of a new government agency named after a cryptocurrency meme. What Happened: Speaking to voters in suburban Philadelphia, Musk outlined his vision for the “Department of Government Efficiency” popularly called D.O.G.E. — a name referencing the Dogecoin (CTYPTO: DOGE) cryptocurrency that began as an internet joke featuring a Shiba Inu dog. The world’s wealthiest person emphasized Pennsylvania’s critical role in the upcoming presidential election between Trump and Democratic candidate Kamala...
Netflix, TSMC, American Express, Moderna, And Tesla: Why These 5 Stocks Are On Investors' Radars Today
U.S. markets ended Thursday with mixed performance: the Dow Jones Industrial Average climbed 0.4% to 43,239.05, the S&P 500 held steady at 5,841.47, and the Nasdaq inched up by 0.04% to close at 18,373.61. These are the top stocks that gained the attention of retail traders and investors throughout the day: Netflix Inc. (NASDAQ:NFLX) Netflix shares fell by 2.04% to close at $687.65. The streaming giant reported third-quarter revenue of $9.825 billion, a 15% increase year-over-year, beating the Street consensus estimate. The streamer added 5.07 million paid subscribers, bringing its total to 282.72 million. Earnings per share also exceeded estimates, while ad-supported...
Netflix's 200B Hour Problem: Why Live Sports Are Just A Drop In the Streaming Ocean
In its third-quarter earnings call on Thursday, Netflix Inc (NASDAQ:NFLX) executives shed light on their calculated approach to live sports programming, acknowledging that while their upcoming slate of live events—including the Jake Paul–Mike Tyson fight and NFL Christmas Day game—might seem minimal against their staggering 200 billion annual streaming hours, the strategy focuses on high-impact moments rather than volume. What Happened: “We have about 200 billion hour every year on Netflix. Very few of them are actually live, but they all promise to be extremely high value,” said Ted Sarandos, Netflix’s Co-CEO, during the company’s earnings call. “Thankfully, all hours are not...
Tim Cook Called To Complain About Billions In EU Fines Imposed On Apple, Says Trump: 'I'm Not Going To Let Them Take Advantage Of Our Companies'
The Republican presidential candidate Donald Trump said that he talked with Apple Inc. (NASDAQ:AAPL) CEO Tim Cook about the financial penalties the EU has imposed on the company. What Happened: In a conversation with Patrick Bet-David, released on Thursday, Trump said that Cook had reached out to him earlier that day. “He (Cook) called me two, three hours ago,” the former President said. He quoted Cook saying, “The EU has just fined us $15 billion ... Then on top of that, they got fined by the EU another $2 billion.” Trump said he knows what Cook must feel because he gets “fined too on fake cases.” See Also: Apple To Launch New...
Trump-Affiliated Entity Will Get 75% Of World Liberty Financial's Revenue and 22% OF WLFI Token Supply — Assumes Zero Liability
The cryptocurrency platform backed by Donald Trump, World Liberty Financial (WLFI), would allocate 75% of its protocol revenues to a firm associated with the former President. What Happened: According to the World Liberty Gold Paper, WLFI, heavily promoted by Trump in recent months, might channel nearly three-fourths of its revenues to DT Marks DEFI, LLC. The Gold Paper said that the entity used “reasonable efforts” to request the owners and principals, including Trump, to promote the WLF project from time to time, and permitted WLF to utilize the former President’s name, image, and likeness. For these services and rights, the WLF team decided...
This Tech Company Is Turning Cannabis Shopping Into Spotify - Are Retailers Ready?
With cutting-edge technology and a consumer-centric approach, Jane Technologies, led by CEO and co-founder Socrates Rosenfeld, is transforming how consumers buy cannabis, making the process as intuitive as choosing music on Spotify. Rosenfeld's team at Jane Technologies is developing tools that not only personalize the cannabis shopping experience but also integrate seamlessly with retail infrastructure. In an exclusive interview with Benzinga Cannabis, Rosenfeld shares insights into their approach, how they are revolutionizing cannabis retail, and what lies ahead. Get Benzinga’s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter here....
Amazon AWS CEO Stands Firm On 5-Day Office Policy — Opponents Can Head For The Exit Door: 'There Are Other Companies Around'
Amazon.com Inc’s (NASDAQ:AMZN) AWS unit CEO, Matt Garman, has staunchly defended the company’s contentious new five-day in-office policy, suggesting that those who oppose it may consider other employment options. What Happened: According to a Reuters report on Thursday, Garman communicated this during an all-hands meeting for AWS. He stated that the majority of workers he interacted with are in favor of the return-to-office policy, set to take effect in January. “If there are people who just don’t work well in that environment and don’t want to, that’s okay, there are other companies around,” Garman expressed. A significant number of Amazon’s employees have...
Kamala Harris Repeats Promise To Get Rid Of 'Unnecessary Degree Requirements' — 'I Will Challenge The Private Sector To Do The Same'
Kamala Harris has pledged to remove unnecessary degree requirements for federal jobs and has urged the private sector to follow suit. What Happened: On Thursday, Harris, the current Vice President and Democratic presidential nominee, reiterated her commitment to eliminating degree prerequisites for certain federal jobs. This was expressed in a post on X where she stated, “A college degree is not the only measure of the skills and experience of a qualified worker.” This commitment was also made public during a speech in Wilkes-Barre, Pennsylvania, as reported by Benzinga in September. See Also: Kamala Harris Pulls A Reverse Card, Puts Trump At Fault...
Sold Out Before Hitting Shelves: Why Did AYR Wellness Snatch Up This Local Cannabis Brand?
Can a cannabis brand go from a garage startup to an acquisition by a multi-state operator in a few years? LEVIA did exactly that. What began as an experiment in cannabis tinctures, brewed above a Massachusetts garage, quickly became one of the state’s top-selling cannabis beverage brands—selling out before their products even hit the shelves. For cannabis investors, the LEVIA story isn't just a tale of entrepreneurial grit; it's a roadmap to success in a rapidly growing sector. By focusing on a unique, effects-based product and seizing an untapped opportunity in the market, founders Kristin and Eric Rogers scaled their startup...
Trump Assasination Suspect Wants Judge Aileen Cannon To Recuse Herself: The Ex-President Has 'Bolstered The Perception That The Court Is Partial In His Favor'
Ryan Routh, charged with the attempted assassination of former President Donald Trump, has requested the recusal of U.S. District Judge Aileen Cannon from his case, citing potential bias. What Happened: Routh’s legal team submitted a request on Thursday for Judge Cannon to step down from the case. They argued that the “unprecedented circumstances” surrounding the case could lead to a perception of partiality, given that Trump, who appointed Cannon and has publicly praised her, is the alleged victim, reported The Hill. Trump, currently running as the Republican presidential candidate against Vice President Kamala Harris, has frequently commended Cannon for her rulings in...
Trump Vs. Harris Swing State Battle: Musk Says 'That's Why I'm In Pennsylvania' With Kalshi Prediction Market Results On Display
A close head-to-head battle between Donald Trump and Vice President Kamala Harris is expected in polls for the 2024 presidential election. Betting prediction markets paint a different picture with one candidate jumping out to a sizable lead. Here's the latest. What Happened: Prediction markets Polymarket and Kalshi are among the companies taking election betting by storm and often showing wide swings on the leading candidate, something that has drawn red flags in recent weeks. Polymarket witnessed a wide swing in Trump's favor, which comes with several large wagers placed on him, which could sway the percentage chance he has of winning and not...
Allstate Records $630M In Losses From Hurricane Helene, Other Insurers Report Significant Losses As Damage Mounts
Allstate Corp (NYSE:ALL) reported $630 million in catastrophe losses related to Hurricane Helene alone. The company reported total estimated catastrophe losses of $889 million for September, more than twice the amount reported for the same month last year. What Happened: The impact of Hurricane Helene has led to a substantial increase in Allstate’s losses for the third quarter of 2024 which the company reported as $1.7 billion, up from $1.18 billion in the same quarter in 2023. Other insurance companies affected by the recent hurricanes include Progressive Corp (NYSE:PGR), which recorded $563 million in catastrophe in September as a result of Hurricane...
Tesla Has A New Chinese Electric Vehicle Competitor: How A Company That Used To Sell Cheap TVs Is Entering EV Race
Tesla Inc (NASDAQ:TSLA) has dominated the electric vehicle sector for years, but is seeing its global market share under pressure in China and other territories with Chinese EV companies launching low-cost models. What Happened: Tesla and the electric vehicle sector could have another rival soon with Chinese company Skywell unveiling new electric vehicles at the 2024 Paris Auto Show this week. Skywell may not be a household name in the U.S. yet, but there's a chance that consumers are familiar with the company's Skyworth affordable televisions that are sold in America by Walmart and Amazon. Skywell unveiled the Q hatchback electric vehicle at...
Rocket Lab Stock Climbs As Biden Administration Plans To Ease Export Restrictions On Space Companies: What You Need To Know
Rocket Lab USA Inc (NASDAQ:RKLB) shares are getting a lift in Thursday’s after-hours session following a report that the Biden administration will ease export restrictions on U.S. commercial space companies. What To Know: The Biden administration is planning to soften export restrictions on U.S. space companies to ship satellites and spacecraft-related items to allies, according to Reuters. Two people familiar with the matter reportedly said the moves are aimed at boosting sales for the commercial space industry in the U.S. while protecting national security. The report indicates that U.S. space companies such as SpaceX stand to benefit. The changes will also positively impact...
Western Alliance Stock Dips After Q3 Results: Here's Why
Western Alliance Bancorporation (NYSE:WAL) shares are trading lower after the company reported its third-quarter financial results after Thursday's closing bell. Here's a look at the details from the report. The Details: Western Alliance reported quarterly earnings of $1.80 per share, which missed the analyst consensus estimate of $1.89. Quarterly revenue came in at $823.1 million, which beat the analyst consensus estimate of $808.19 million. Net interest income totaled $696.9 million in the third quarter 2024, an increase of $40.3 million, or 6.1%, from $656.6 million in the second quarter 2024, and an increase of $109.9 million, or 18.7%, compared to the third...
Google Deal For Default Search On Apple iPhones 'Very Likely' To Be Banned, Jefferies Says
Alphabet, Inc.'s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google could "very likely" be banned from paying Apple, Inc. (NASDAQ:AAPL) to be the default search engine on iPhones, according to analysts at Jeffries. The Details: Judge Amit Mehta ruled in August that Google has an illegal monopoly over online search in a landmark antitrust case brought by the U.S. Department of Justice (DOJ). The judge specifically highlighted the company's policy of paying billions annually to keep its search engine's default status on devices as an anticompetitive practice. He questioned why Google would pay billions if it truly had the best search engine and called the situation...
EXCLUSIVE: Robinhood's Bitstamp Deal Will Drive Growth, Exec Says: 'What Was Good For Stocks ... We Brought Into Crypto'
Trading platform Robinhood Markets (NASDAQ:HOOD) continues to add to the offerings available to retail traders. One of those offerings, crypto, will get a boost thanks to the acquisition of Bitstamp. "We have a lot of products," Robinhood Crypto General Manager Johann Kerbrat told Benzinga’s Zunaid Suleman in an interview Thursday at the 2024 HOOD Summit in Miami. In addition to stock and options trading, Robinhood offers cryptocurrencies including Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Dogecoin (CRYPTO: DOGE). With Robinhood Crypto, users can self-custody and control their own assets in wallets, Kerbrat said. For many new crypto investors it's important to start small and...
Netflix Q3 Earnings: Revenue Beats, EPS Tops, Q4 Guidance Projects Subscriber Boost From 'Squid Game,' NFL, And Boxing
Streaming giant Netflix Inc (NASDAQ:NFLX) reported third-quarter financial results after market close Thursday. Here are the key highlights. What Happened: Netflix reported third-quarter revenue of $9.825 billion, up 15% year-over-year. The revenue total beat a Street consensus estimate of $9.769 billion according to data from Benzinga Pro. The company reported earnings per share of $5.40 in the third quarter, beating a Street consensus estimate of $5.12. Netflix ended the third quarter with 282.72 million global paid subscribers, up 14.4% year-over-year. The company added 5.07 million new paid subscribers in the quarter, compared to 8.8 million net paid subscribers added in last year's third quarter. The...
Intuitive Surgical Stock Pops On Q3 Earnings Beat, Da Vinci Procedures Climb 18%, Regulatory Clearance Update And More
Intuitive Surgical, Inc. (NASDAQ:ISRG) reported third-quarter financial results after markets closed on Thursday. Here’s a rundown of everything you need to know. Q3 Earnings Top Estimates: Intuitive Surgical reported third-quarter revenue of $2.04 billion, beating the consensus estimate of $2 billion. The robotic-assisted surgery company reported third-quarter adjusted earnings of $1.84 per share, beating analyst estimates of $1.63 per share, according to Benzinga Pro. Revenue climbed 17% on a year-over-year basis. Worldwide da Vinci procedures increased approximately 18% year-over-year. The company said it placed 379 da Vinci surgical systems in the quarter, versus 312 in the prior year’s quarter; 110 of the systems placed during...
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