First Trust Emerging Markets Local Currency Bond ETF (NASDAQ: FEMB)

Latest News for First Trust Emerging Markets Local Currency Bond ETF (NASDAQ:FEMB)

First Trust Emerging Markets Local Currency Bond ETF

The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, but the index remained in the &#8220;Fear&#8221; zone on Friday.
U.S. stocks settled higher on Friday, with the S&amp;P 500 recording its best week since Nov, 2023. The index surged 2.7%, snapping a three-week losing streak, while the Dow added 0.7% last week.
On the economic data front, the Federal Reserve&#8217;s preferred measure of inflation – the Personal Consumption Expenditure (PCE) price index – rose more than expected in March. The headline PCE price index rose from 2.5% in February 2024 to 2.7% year-on-year in March, beating forecasts of a 2.6% increase, the Bureau of Economic Analysis reported Friday.
Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) shares gained around 10% on Friday after the company posted upbeat results for its first quarter. Alphabet's board authorized an additional share repurchase program of up to $70 billion and also announced its first-ever quarterly dividend. Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) posted better-than-expected earnings and sales results for its third quarter on Thursday.
Most sectors on the S&amp;P 500 closed on a positive note, with communication services, information technology and consumer discretionary stocks recording the biggest gains on Friday. However, utilities and energy stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 154 points to 38,239.66 on Friday. The S&amp;P 500 added 1.02% at 5,099.96, while the Nasdaq Composite jumped 2.03% at 15,927.90 during Friday's session.
Investors are awaiting earnings results from ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>), NXP Semiconductors N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>) and Domino&#8217;s Pizza, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NYSE">DPZ</a>) today.
At a current reading of 41.9, the index remained in the &#8220;Fear&#8221; zone on Thursday, versus a prior reading of 39.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38458706/top-4-materials-stocks-that-may-explode-in-q2">Top 4 Materials Stocks That May Explode In Q2</a>

Earnings

News

Pre-Market Outlook

Markets

Trading Ideas

GOOG

GOOGL

MSFT

NXPI

Investor Optimism Improves Following Earnings Reports; US Stocks Notch Weekly Gains

With U.S. stock futures trading higher this morning on Monday, some of the stocks that may grab investor focus today are as follows:
Wall Street expects Domino&#8217;s Pizza, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NYSE">DPZ</a>) to report quarterly earnings at $3.39 per share on revenue of $1.08 billion before the opening bell, according to data from Benzinga Pro. Domino&#8217;s shares rose 0.3% to $500.39 in after-hours trading.
Analysts are expecting Yum China Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>) to post quarterly earnings at 65 cents per share on revenue of $3.05 billion. The company will release earnings after the markets close. Yum China shares rose 0.7% to $39.91 in after-hours trading.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is reportedly set to lay off 693 employees at its Nevada facilities as part of the 10% layoff announced by the company earlier this month to reduce costs amid falling EV sales and margins. The company also increased the price of its new Model 3 Performance in the U.S. by $1000, merely days after its launch. Tesla shares rose 0.4% to $168.93 in after-hours trading.
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>.
Before the markets open, ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) is projected to report quarterly earnings at $1.04 per share on revenue of $1.85 billion. ON Semiconductor shares rose 0.7% to $68.50 in the after-hours trading session.
Analysts expect NXP Semiconductors N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>) to post quarterly earnings at $3.16 per share on revenue of $3.13 billion after the closing bell. NXP Semiconductors shares rose 0.5% to $243.80 in after-hours trading.
Read More: <a href="https://www.benzinga.com/top-stories/24/04/38459336/i-dont-want-you-to-lose-any-money-jim-cramer-on-this-industrial-stock-go-buy-ge-vernova">&#8216;I Don&#8217;t Want You To Lose Any Money&#8217;: Jim Cramer On This Industrial Stock: &#8216;Go Buy GE Vernova&#8217;</a>

TSLA

YUMC

Domino's Pizza, Yum China And 3 Stocks To Watch Heading Into Monday

Elon Musk&#8216;s longtime supporter,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38131745/cathie-wood-hails-elon-musks-visionary-impact-hes-transforming-the-world-saving-humanity-from-itself" rel="noreferrer noopener">Cathie Wood</a>, founder of&nbsp;Ark Investment Management, doubled down on her praise for the&nbsp;Tesla, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO. This time, she lauded the company&#8217;s decision to ramp up investment in artificial intelligence.
What Happened: &#8220;At a time when many companies are bowing to short-term oriented shareholders who are demanding profits, dividends, and share repurchases NOW, #Tesla&#8217;s increased investment in the largest #AI project on Earth is separating it from the auto and tech packs,&#8221; Wood wrote on social media.
This post echoed remarks Musk made earlier, where he agreed with Wood&#8217;s assessment of Tesla being &#8220;the biggest AI project on earth.&#8221;
Consistent View From Wood: Wood&#8217;s praise for Tesla&#8217;s AI focus isn&#8217;t new. During an early April appearance <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38076756/cathie-wood-says-tesla-is-biggest-ai-project-in-world-sees-convergence-of-3-key-technolo" target="_blank" rel="noreferrer noopener">on CNBC&#8217;s Squawk Box</a>, she emphasized, &#8220;This is the biggest AI project in the world. We&#8217;re in a bit of a trading range and we will be until more and more analysts and investors understand how transformative the convergence of these three technologies will be.&#8221; The three technologies she refers to are robotaxis, energy storage, and AI.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Yes, at a time when many companies are bowing to short-term oriented shareholders who are demanding profits, dividends, and share repurchases NOW, <a href="https://twitter.com/hashtag/Tesla?src=hash&amp;ref_src=twsrc%5Etfw">#Tesla</a>&#39;s increased investment in the largest <a href="https://twitter.com/hashtag/AI?src=hash&amp;ref_src=twsrc%5Etfw">#AI</a> project on Earth is separating it from the auto and tech packs. <a href="https://t.co/auae94ULKk">https://t.co/auae94ULKk</a>
&mdash; Cathie Wood (@CathieDWood) <a href="https://twitter.com/CathieDWood/status/1784715540369375338?ref_src=twsrc%5Etfw">April 28, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:<a target="_blank" href="https://www.benzinga.com/money/best-artificial-intelligence-stocks" rel="noreferrer noopener">&nbsp;Best Artificial Intelligence Stocks</a>
Why It Matters:&nbsp;Tesla utilizes AI for both training and inference, crucial for perfecting its self-driving technology. Their full self-driving tech has transitioned from beta testing to a &#8220;Supervised&#8221; FSD program. Musk recently stated on X that Tesla plans to invest roughly $10 billion in a combination of training and inference AI, with the latter primarily used in cars. He added, &#8220;Any company not spending at this level, and doing so efficiently, cannot compete.&#8221;
Shareholder Appeasement:&nbsp;Wood&#8217;s remarks about companies catering to short-term shareholder demands follow Alphabet&#8217;s recent announcement of&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38445001/alphabet-q1-earnings-revenue-beat-eps-beat-70b-buyback-first-ever-dividend-ai-leadership-and-more" rel="noreferrer noopener">its first-ever dividend</a>. The Google parent&#8217;s earnings release revealed board approval for a 20-cent per share cash dividend, to be paid on June 17 to stockholders of record on June 10.
With this move, all but two companies from the once-dominant &#8220;Magnificent Seven&#8221; tech stocks now offer dividends. Tesla and Amazon remain the holdouts. Notably, during Tesla&#8217;s stock decline in 2022, pressure mounted for the company to initiate stock buybacks to counter the slide.
Tesla&#8217;s Focus On The Future:&nbsp;While Tesla&#8217;s core auto business faces significant challenges, the company appears to be placing its future bets on advancements in FSD and&nbsp;robotaxi&nbsp;technology.
Tesla ended Friday&#8217;s session down 1.11% at $168.29, but was up 0.37% after the closing bell, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a>
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38479312/watershed-moment-says-tesla-analyst-as-elon-musk-makes-surprise-china-visit-to-repo">&#8216;Watershed Moment,&#8217; Says Tesla Analyst As Elon Musk Makes Surprise China Visit To Reportedly Discuss FSD Rollout And Data Transfer Overseas</a>
Photo via WEF on Flickr

Analyst Color

Equities

Tech

Did Cathie Wood Just Throw Shade At Google? Ark Invest CEO This Is What Separates Tesla From 'Auto And Tech Packs'

SATS

Reported Saturday, Cox Media Group And Echostar's Subsidiary DISH Reached Agreement That Will Restore All CMG Stations

ITRI

Reported Earlier, Itron And Australian Cairns Regional Council Expand Collaboration On Water Security And Conservation

<a href="https://www.globenewswire.com/Tracker?data=yca7nmsWSD9gqy59XBclTAgZKvPjX8dzDwGBx6Zs344H5mOxt76zii5j3LRpVTdYh_HdAEgWxKaikIcyQ1LqOP5qRIgvhOiuaOfn6eiss2hqFGIO1vfaGUgd0Sio6hal" target="_blank">Addex Therapeutics</a>&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADXN#NASDAQ">ADXN</a>), a clinical-stage biopharmaceutical company focused on developing a portfolio of novel small molecule allosteric modulators for neurological disorders, today announced top-line data from a Phase 2 epilepsy study evaluating adjunctive ADX71149 (JNJ-40411813) administration in patients with focal onset seizures with suboptimal response to levetiracetam or brivaracetam. The Phase 2 study did not achieve statistical significance for the primary endpoint of time for patients to reach baseline seizure count when ADX71149 was added to standard of care.
&quot;While disappointed that the Phase 2 ADX71149 epilepsy study did not meet the primary endpoint, we are still analyzing the data,&quot; said Roger Mills, Chief Medical Officer of Addex. &quot;We will provide details on data from the full study when this analysis is completed and will work with our partner to determine next steps for the ADX71149 program.&quot;
The data were reported from a total of 110 evaluable patients, who each received either 50 mg or 100 mg of ADX71149 twice daily (100 mg or 200mg twice daily, respectively, for patients receiving CYP3A4 inducing anti-seizure medication) in addition to their standard dose of levetiracetam or brivaracetam and up to three other anti-seizure drugs. Adjunctive administration of ADX71149 was safe and well tolerated.

ADXN

Addex Therapeutics Announces Lack of Statistical Significance In ADX71149 Phase 2 Epilepsy Study

&nbsp;The collaboration includes plans to launch an enhanced WISeSat satellite in&nbsp;Q3&nbsp;2024 using SpaceX.

LAES

WKEY

WISeKey Subsidiary, WISeSAT.Space Strengthens Its Strategic Partnership With Swiss Armed Forces In The Space Sector For 2024 And Beyond

China is set to launch an ambitious mission to the far side of the moon, marking a significant step in its lunar exploration program and potentially setting the stage for a crewed landing and the establishment of a lunar base.
What Happened: China is preparing to launch a robotic spacecraft to the moon&#8217;s far side, a mission that will be the first of three challenging endeavors. These missions are expected to set the stage for a Chinese crewed landing and the construction of a base at the moon&#8217;s south pole, Reuters reported.
The upcoming mission, named Chang&#8217;e-6, is expected to launch this week. It will use the backup spacecraft from the 2020 mission to collect soil and rocks from the moon&#8217;s far side. This mission will rely on a recently deployed relay satellite orbiting the moon for communication during its 53-day mission.
China&#8217;s future missions, Chang&#8217;e-7 and Chang&#8217;e-8 in 2026 and 2028, respectively, will also rely on this relay satellite. These missions will focus on exploring the moon&#8217;s south pole for water and establishing a rudimentary outpost with Russia. China aims to land its astronauts on the moon by 2030.
Chang&#8217;e-6 is set to transport payloads from France, Italy, Sweden, and Pakistan, while Chang&#8217;e-7 will carry payloads from Russia, Switzerland, and Thailand. Due to U.S. legal restrictions, NASA is prohibited from engaging in any form of collaboration, whether direct or indirect, with China.
&#8220;International cooperation is key (to lunar exploration),&#8221; Clive Neal, professor of planetary geology at the University of Notre Dame, told Reuters. &#8220;It&#8217;s just that China and the U.S. aren&#8217;t cooperating right now. I hope that will happen.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/04/38430009/xi-jinping-calls-for-chinese-army-to-focus-on-the-battlefield-during-visit-to-military-medical-unive?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Xi Jinping Calls For Chinese Army To &#8216;Focus On The Battlefield&#8217; During Visit To Military Medical Universi</a>
Why It Matters: China&#8217;s upcoming mission to the moon&#8217;s far side is a significant milestone in its lunar exploration program. This mission follows the successful <a href="https://www.benzinga.com/news/24/03/37840762/china-marks-new-era-in-space-race-with-launch-of-queqiao-2-for-future-lunar-missions">launch of the Queqiao-2 satellite</a>, which will facilitate communication for China&#8217;s upcoming lunar missions. The success of these missions could potentially challenge the U.S.&#8217;s dominance in space exploration.
China&#8217;s rapid advancements in space technology have been a cause for concern for the U.S., as highlighted by the head of the <a href="https://www.benzinga.com/news/24/03/37413806/us-space-command-chief-warns-of-chinas-alarming-military-space-and-counterspace-capabilities">U.S. Space Command</a>, General Stephen Whiting, in a March Senate hearing. China&#8217;s progress in space technology, including human spaceflight and robotic space exploration, could pose a significant threat to U.S. satellites and military forces.
China&#8217;s space industry is also making strides in the development of reusable rockets, with local startups aiming to challenge the dominance of SpaceX. Companies like Orienspace are working on <a href="https://www.benzinga.com/news/24/02/36948275/chinas-orienspace-aims-to-rival-elon-musks-spacex-with-reusable-rockets-by-2026">reusable rockets</a> to reduce the costs associated with satellite launches. 
Read Next: <a href="https://www.benzinga.com/news/24/04/38480393/gold-soars-against-the-odds-eastern-buying-spree-or-1970s-redux-billionaire-investor-david-einhorn-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Gold Soars Against The Odds: Eastern Buying Spree Or 1970s Redux? Billionaire Investor David Einhorn Thinks There&#8217;s A &#8216;Secular Trend&#8217;</a>
Image Via Shutterstock 
<div style="font-family: 'Lato', sans-serif">
<hr style="border: 0;height: 5px;background: #225aa9" />
<div style="background-color: #f5f5f5;background-position: center;background-size: cover;justify-content: center"></div>

 Engineered by 
 Benzinga Neuro, Edited by 
 
 <a href="None" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none"> 
 Kaustubh Bagalkote</a> 
 
 
<hr style="border: 0;height: 1px;background: #225aa9" />

 The GPT-4-based Benzinga Neuro content generation system exploits the 
 extensive Benzinga Ecosystem, including native data, APIs, and more to 
 create comprehensive and timely stories for you. 
 <a href="https://www.benzinga.com/topic/kaustubh-bagalkote" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Learn more.</a>
 
<hr style="border: 0;height: 5px;background: #225aa9" />
 </div>

SPACE

Global

China To Launch Ambitious Mission To Moon's 'Hidden' Side, Paving Way For Crewed Landing And Lunar Base

Domino&#8217;s Pizza, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NYSE">DPZ</a>) is set to release earnings results for its first quarter before the <a href="https://www.benzinga.com/quote/DPZ/earnings">opening bell on April 29, 2024.</a>
Analysts expect the Ann Arbor, Michigan-based company to report quarterly earnings at $3.39 per share, up from $2.93 per share in the year-ago period. Domino&#8217;s is projected to report quarterly revenue of $1.08 billion, up from $1.02 billion in the year-earlier quarter, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Feb. 26, Domino&#8217;s Pizza reported better-than-expected fourth-quarter earnings, raised its dividend and authorized an additional stock buyback.
Domino&#8217;s shares rose 0.9% to close at $499.07 on Friday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/DPZ/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Wedbush analyst Nick Setyan reiterated an Outperform  rating with a price target of $520 on April 26. This analyst has an accuracy rate of 82%.</li>
<li>UBS analyst Dennis Geiger maintained a Buy rating and boosted the price target from $526 to $570 on April 16. This analyst has an accuracy rate of 71%.</li>
<li>TD Cowen analyst Andrew Charles reiterated a Buy rating with a price target of $550 on April 12. This analyst has an accuracy rate of 73%.</li>
<li>Citigroup analyst Jon Tower maintained a Neutral rating and raised the price target from $458 to $505 on April 11. This analyst has an accuracy rate of 76%.</li>
<li>Piper Sandler analyst Brian Mullan maintained a Neutral rating and increased the price target from $400 to $435 on Feb. 27. This analyst has an accuracy rate of 85%.</li>
</ul>
Now Check This Out: <a href="https://www.benzinga.com/top-stories/24/04/38459336/i-dont-want-you-to-lose-any-money-jim-cramer-on-this-industrial-stock-go-buy-ge-vernova">&#8216;I Don&#8217;t Want You To Lose Any Money&#8217;: Jim Cramer On This Industrial Stock: &#8216;Go Buy GE Vernova&#8217;</a>

Price Target

Domino's Pizza Likely To Report Higher Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Corporate <a href="https://www.benzinga.com/markets/equities/24/04/38471231/strong-quarterly-earnings-fuel-market-optimism-despite-inflation-concerns-slowing-economic-growt">earnings came to the market&#8217;s rescue in the past week,</a> helping to overcome rate fears. As we look ahead to the unfolding week, it remains to be seen whether the tech earnings deluge can keep the rally&#8217;s momentum going. 
The Week That Was: High-profile Magnificent Seven earnings panned out mostly positively for the market, with Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) the outlier. The social media giant&#8217;s stock fell sharply as traders fretted over the soft second-quarter revenue guidance and the company&#8217;s massive AI investment plans. 
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) managed to appease the Street despite the double miss as it held out the promise of an expeditious launch of a more affordable EV. 
With the earnings season now halfway through, the percentage of S&amp;P 500 companies reporting positive earnings surprises and the magnitude of earnings surprises were above their 10-year averages, <a href="https://insight.factset.com/sp-500-earnings-season-update-april-26-2024?utm_source=Direct&amp;utm_medium=Email&amp;utm_campaign=FO-04-26-2024&amp;utm_content=httpsinsightfactsetcomsp500earningsseasonupdateapril262024">said </a>FactSet in a report.
The blended first-quarter earnings growth of S&amp;P 500 companies is estimated at 3.5%, up from the 0.6% growth estimated in the week ended April 19, the financial data analytics firm said. If the trend holds, the S&amp;P 500 companies are on track to report earnings growth for the third straight quarter.
Of the 11 S&amp;P sector classes, eight sectors reported year-over-year earnings growth, led by communication services, utilities, IT, and consumer discretionary sectors. On the other hand, healthcare, energy, and materials have reported year-over-year earnings declines.
See Also: <a href="https://www.benzinga.com/money/best-tech-stocks">Best Tech Stocks Right Now</a>
Look Ahead: The unfolding week will see 175 S&amp;P 500 companies and 6 Dow 30 components releasing their quarterly scorecards. The earnings roster includes two Magnificent Seven companies, namely Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Amazon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), e-commerce retailers, payment processors, restaurants, and energy and REIT companies.
Earnings from Apple and Amazon could be market-moving, given the weighting of these stocks in the S&amp;P 500 Index. Also, Apple is considered a bellwether, given its exposure to consumers. Morgan Stanley&#8217;s Erik Woodring expects Apple to report a slightly beat but guide June quarter revenue down. 
Investors are likely to keep a close eye on performance in China, Apple&#8217;s updated capital return framework, and capital expenditures, the analyst said.
That said, the analyst is positive on the stock ahead of its annual Worldwide Developers&#8217; Conference due on June 10th. &#8220;With Apple&#8217;s biggest WWDC event on June 10th, we&#8217;d buy post-earnings weakness,&#8221; he said.
Amazon will likely continue to report double-digit sales and profit growth in the first quarter, according to Telsey Advisory Group analyst Joseph Feldman. The analyst premised his optimism on the strength of online spending, gains from expanded merchandise and faster fulfillment, and stabilization (and growth) of AWS. 
&#8220;Importantly, we expect [a] greater focus on profits supported by the growth of higher margin categories and services, such as advertising, media, and AWS (partly helped by AI-related upgrades), the redesigned distribution network&#8230;.. and cost savings,&#8221; he said.
Notable among the <a href="https://www.benzinga.com/calendars/earnings">companies reporting earnings this week</a> are:
Monday 
<ul>
<li>Before the bell: JinkoSolar Holding Co., Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JKS#NYSE">JKS</a>), ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>), Koninklijke Philips N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHG#NYSE">PHG</a>), SoFi Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>)</li>
<li>After the close: F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>), Everest Group, Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EG#NYSE">EG</a>), NXP Semiconductors N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>), Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>), MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>), Qiagen N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QGEN#NYSE">QGEN</a>), Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>), Sanmina Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SANM#NASDAQ">SANM</a>), Yum China Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>)</li>
</ul>
Tuesday 
<ul>
<li>Before the bell: 3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>), The Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), GE HealthCare Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NASDAQ">GEHC</a>), McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>), PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>)</li>
<li>After the close: Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), ONEOK, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>), Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>), Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>), Unum Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNM#NYSE">UNM</a>). Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), Stryker Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>), RenaissanceRe Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>), Prudential Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRU#NYSE">PRU</a>), Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), The Clorox Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>), Chesapeake Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>)</li>
</ul>

Wednesday 
<ul>
<li>Before the bell: Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>), CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>), The Estée Lauder Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>), Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>), GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>), The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>), KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), Logitech International S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOGI#NASDAQ">LOGI</a>), Mastercard Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>), Pfizer, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), Wingstop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>), Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>)</li>
<li>After the close: Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>), The Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>), C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>), Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>), Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>), First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>), Kulicke and Soffa Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLIC#NASDAQ">KLIC</a>), Marathon Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>), MetLife, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MET#NYSE">MET</a>), MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>), Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>), Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>), Upwork Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPWK#NASDAQ">UPWK</a>), Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>), Zillow Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZG#NASDAQ">ZG</a>)</li>
</ul>
Thursday 
<ul>
<li>Before the bell: ArcelorMittal S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MT#NYSE">MT</a>), ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), CyberArk Software Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>), Ferrari N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RACE#NYSE">RACE</a>), Intercontinental Exchange, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>), Kimco Realty Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KIM#NYSE">KIM</a>), Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>), PENN Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>), Wayfair Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>), Zoetis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>)</li>
<li>After the close: Amgen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), BigBear.ai Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>), BJ&#8217;s Restaurants, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJRI#NASDAQ">BJRI</a>), Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>), Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), Consolidated Edison, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ED#NYSE">ED</a>), DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), Five9, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>), Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>), Illumina, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>), Live Nation Entertainment, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>), United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>), Regency Centers Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REG#NASDAQ">REG</a>), Reinsurance Group of America, Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RGA#NYSE">RGA</a>), Pioneer Natural Resources Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PXD#NYSE">PXD</a>), Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>), Monster Beverage Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNST#NASDAQ">MNST</a>)</li>
</ul>
Friday 
<ul>
<li>Before the bell: American Axle &amp; Manufacturing Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>), Cboe Global Markets, Inc. (CBOE: CBOE), Fluor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLR#NYSE">FLR</a>), The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>), Owens &amp; Minor, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMI#NYSE">OMI</a>), XPO, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>)</li>
</ul>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), an exchange-traded fund that tracks the performance of the broader S&amp;P 500 Index, ended Friday&#8217;s session up 0.95% at $508.26, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data. </a>The ETF has pulled back from its all-time high (intraday) of $524.61 hit on March 28. The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), an ETF levered more to high-profile, non-financial tech stocks, rose 1.54% to $431.
Read Next: <a href="https://www.benzinga.com/news/earnings/earnings-misses/24/04/38464570/us-energy-stocks-fall-following-oil-giants-subdued-earnings-reports">US Energy Stocks Fall Following Oil Giants&#8217; Subdued Earnings Reports</a>

Previews

AAPL

ABBV

AMGN

AMZN

BBAI

BIIB

BJRI

BKNG

BLCO

CBOE

CHRW

CHTR

CMCSA

COIN

CYBR

DKNG

EBAY

ETSY

EXPE

FANG

FFIV

FIVN

FRSH

FSLR

GEHC

GILD

GRMN

ILMN

INTC

JBLU

JNPR

KLAC

KLIC

LOGI

LRCX

LSCC

Will Earnings Cheer Continue To Buoy Markets? Apple, Amazon, Pfizer, Coinbase Lead Flurry Of Q1 Reports This Week

China&#8217;s major banks are reportedly halting transactions related to Russia, due to concerns over U.S. sanctions. This has led to a surge in the use of alternative channels for payments, including cryptocurrency, by Chinese companies conducting business with Russia.
What Happened: The Agricultural Bank of China Ltd, Bank of China Ltd, and China Construction Bank Corp are among the banks that have significantly reduced their financing of Russia-related transactions. Reuters reported citing sources that this has caused a significant problem for small Chinese exporters.
As a result, some Chinese companies are turning to smaller banks on the border and alternative financing channels, including cryptocurrency, despite its ban in China since 2021. Others have chosen to withdraw from the Russian market entirely.
&#8220;You simply cannot do business properly using the official channels,&#8221; a Guangdong-based company&#8217;s founder, Wang, who asked to be identified only by his family name. 
According to the report, the U.S. has imposed a series of sanctions on Russia and Russian entities since the country&#8217;s invasion of Ukraine in 2022. 
The threat of extending these sanctions to Chinese banks, which the U.S. accuses of supporting Moscow&#8217;s war effort, has led to a reduction in financial support for non-military trade from China to Russia.
The leader of a trade association in a southeastern Chinese province, representing Chinese enterprises engaged with Russian affairs, mentioned that transactions between China and Russia will likely shift towards clandestine routes. 
He emphasized the inherent risks associated with such methods. According to a Russian banker based in Moscow, resorting to cryptocurrency for payments might become the sole viable choice, considering the impossibility of passing through KYC procedures at Chinese banks, irrespective of their size, following the ban imposed in 2021.
See Also: <a href="https://www.benzinga.com/news/24/04/38480393/gold-soars-against-the-odds-eastern-buying-spree-or-1970s-redux-billionaire-investor-david-einhorn-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Gold Soars Against The Odds: Eastern Buying Spree Or 1970s Redux? Billionaire Investor David Einhorn Thinks There&#8217;s A &#8216;Secular Trend&#8217;</a>
Why It Matters: The U.S. has been increasingly vocal about China&#8217;s role in <a href="https://www.benzinga.com/news/24/04/38373137/eus-top-diplomat-in-asia-warns-china-over-russia-ties-trade-imbalance-we-have-to-stand-up-for-oursel">supporting Russia</a> amid its war in Ukraine. This has led to discussions about potential sanctions on Chinese banks, a move that could have significant implications for global trade.
During a meeting held in <a href="https://www.benzinga.com/news/24/04/38454152/antony-blinken-raises-alarm-over-xi-jinpings-support-for-russia-during-us-china-talks">Beijing last week</a>, U.S. Secretary of State Antony Blinken expressed apprehensions regarding China&#8217;s backing of Russia&#8217;s military actions, which could potentially strain the ongoing endeavors to improve relations between the two nations.
U.S. Treasury Secretary Janet Yellen <a href="https://www.benzinga.com/news/24/04/38138081/janet-yellen-threatens-beijing-with-us-sanctions-standing-in-mainland-china-if-they-assist-russia-in">has warned</a> Chinese banks and exporters against aiding Russia&#8217;s military capacity, citing potential sanctions. This latest development suggests that Chinese banks are taking these warnings seriously, potentially signaling a shift in China&#8217;s approach to its relationship with Russia.
Meanwhile, China&#8217;s support for Russia has been a major point of contention in its relations with the U.S. and the EU. The U.S. has <a href="https://www.benzinga.com/markets/asia/24/04/38380008/us-mulls-sanctions-on-beijing-banks-for-alleged-role-in-putins-war-in-ukraine-china-cant-have-it-bot">mooted sanctions</a> on Chinese banks over their support for Russia&#8217;s war in Ukraine, a move that could further exacerbate tensions between the two superpowers.
Read Next: <a href="https://www.benzinga.com/news/24/04/38474838/us-china-set-to-hold-first-high-level-talks-on-ai-says-blinken?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">US, China Set To Hold First High-Level Talks On AI, Blinken Confirms: TikTok &#8216;Did Not Come Up&#8217; In Discussion</a>
Image Via Shutterstock 
<div style="font-family: 'Lato', sans-serif">
<hr style="border: 0;height: 5px;background: #225aa9" />
<div style="background-color: #f5f5f5;background-position: center;background-size: cover;justify-content: center"></div>

 Engineered by 
 Benzinga Neuro, Edited by 
 
 <a href="None" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none"> 
 Kaustubh Bagalkote</a> 
 
 
<hr style="border: 0;height: 1px;background: #225aa9" />

 The GPT-4-based Benzinga Neuro content generation system exploits the 
 extensive Benzinga Ecosystem, including native data, APIs, and more to 
 create comprehensive and timely stories for you. 
 <a href="https://www.benzinga.com/topic/kaustubh-bagalkote" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Learn more.</a>
 
<hr style="border: 0;height: 5px;background: #225aa9" />
 </div>

Asia

Politics

China's Big Banks Halt Russia Transactions Over US Sanctions, Forcing Firms To Resort To 'Underground' Channels: Report

Editor&#8217;s note: This story was updated with more details from the media report and background about FSD testing in China
EV giant Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is reportedly partnering with Beijing-based internet company Baidu Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) in an attempt to introduce its <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38479312/watershed-moment-says-tesla-analyst-as-elon-musk-makes-surprise-china-visit-to-repo" target="_blank" rel="noreferrer noopener">driver assistance features</a> in China.
What Happened:&nbsp;The partnership will focus on providing high-precision, lane-level mapping and navigation data for China,&nbsp;Bloomberg&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-04-29/tesla-clears-key-china-fsd-hurdle-with-baidu-mapping-deal" rel="noreferrer noopener">reported</a>, citing people familiar with the matter.&nbsp;This data is crucial for deploying Tesla&#8217;s Full Self-Driving (FSD) software in the East Asian market.
The report comes on the heels of Tesla CEO&nbsp;Elon Musk&#8216;s unannounced&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38479312/watershed-moment-says-tesla-analyst-as-elon-musk-makes-surprise-china-visit-to-repo" rel="noreferrer noopener">trip to China</a>&nbsp;over the weekend, fueling speculation about FSD&#8217;s rollout in the country.
Why It Matters:&nbsp;During Tesla&#8217;s recent earnings call, Musk expressed his desire to launch FSD in new markets, including China, pending regulatory approval.
FSD, while requiring active driver supervision currently, is a key technology in Tesla&#8217;s vision of achieving full autonomy. Musk has&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38397845/tesla-will-solve-autonomy-even-if-i-got-kidnapped-by-aliens-tomorrow-says-elon-musk-as-he-reveals-ta" rel="noreferrer noopener">emphasized the importance</a>&nbsp;of FSD for Tesla&#8217;s future value, stating last week, "If somebody doesn't believe Tesla is going to solve autonomy, I think they should not be an investor in the company.
Exactly a year ago, it was reported that Tesla was about to start large-scale&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/asia/23/04/31673037/tesla-said-to-finally-begin-large-scale-fsd-testing-in-china-soon" rel="noreferrer noopener">FSD testing in China</a>. So far, Chinese customers who have purchased the optional FSD capability have not been granted access to the FSD Beta program running in North America since October 2020.
The news also comes on the heels of smartphone giant-turned-EV-maker Huawei&nbsp;unveiling&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38404191/threat-for-tesla-apples-chinese-rival-huawei-launches-new-software-for-intelligent-driving" rel="noreferrer noopener">its new software brand</a>&nbsp;for intelligent driving, &#8220;Qiankun,&#8221; as part of its plan to establish a significant presence in the EV industry.
FSD, however, has also raised some concerns over safety although some Tesla executives <a href="https://www.benzinga.com/government/24/04/38176458/tesla-exec-says-we-wont-be-shy-to-share-data-to-prove-fsd-is-safer-than-human-drivers">have repeatedly said</a> it is much better than human drivers.
Price Action:&nbsp;Tesla stock closed down 1.11% at $168.29 on Friday, according to data from&nbsp;<a target="_blank" href="https://pro.benzinga.com/dashboard" rel="noreferrer noopener">Benzinga Pro</a>, but was up 0.37% after the closing bell. The stock is down 32.26% year-to-date.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More: <a href="https://www.benzinga.com/news/24/04/38476093/elon-musk-ceo-questions-european-space-agencys-lack-of-reusability-for-its-ariane-6-launch-vehicle">Elon Musk CEO Questions European Space Agency&#8217;s Lack Of Reusability For Its Ariane 6 Launch Vehicle</a>
Photo via Shutterstock

Government

Regulations

Media

BIDU

Musk's China Mission Pays Off? Tesla Reportedly Inks FSD Deal With Internet Giant Baidu (UPDATED)

Outlook
Philips reiterates its confidence in delivering the 2025 plan, acknowledging that uncertainties remain. For the full year 2024, Philips continues to expect 3-5% comparable sales growth and an Adjusted EBITA margin of 11-11.5%.&nbsp;
The expected free cash flow is now increased to EUR 0.9-1.1 billion in 2024, including the receipt from insurers for the Respironics product liability claims and the remaining payment related to the economic loss settlement.&nbsp;
The personal injury and medical monitoring litigation settlement payment is expected in 2025. The outlook excludes the potential impact of other previously disclosed Philips Respironics-related legal proceedings, including the investigation by the US Department of Justice.

Guidance

Koninklijke Philips Continues To Expects 3-5% Comparable Sales Growth And Adjusted EBITA Margin Of 11-11.5%; Sees Free Cash Flow Of EUR 0.9B-1.1B

Koninklijke Philips Reported Q1 Comparable Sales Growth Of 2.4% And Comparable Order Intake -3.8%

Koninklijke Philips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHG#NYSE">PHG</a>) reported quarterly earnings of $0.28 per share which beat the analyst consensus estimate of $0.26 by 8.46 percent. This is a 17.5 percent increase over earnings of $0.24 per share from the same period last year. The company reported quarterly sales of $4.494 billion which beat the analyst consensus estimate of $4.168 billion by 7.82 percent. This is a 0.49 percent increase over sales of $4.472 billion the same period last year.

Earnings Beats

Koninklijke Philips Q1 2024 Adj EPS $0.28 Beats $0.26 Estimate, Sales $4.494B Beat $4.168B Estimate

Frankfurt-based tech company Northern Data (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NDTAF#OTC">NDTAF</a>) has seen a significant change in its business model, which has caught the eye of investment bank Berenberg. 
What Happened: Northern Data, previously known for its Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) mining operations, has shifted its focus to cloud solutions and data center infrastructure. This transformation has led Berenberg to predict a substantial increase in the company&#8217;s stock value, <a href="https://www.cnbc.com/2024/04/29/bitcoin-miner-and-nvidia-ai-cloud-partner-northern-data-could-go-up-50percent-berenberg-says.html">reported</a> CNBC.
The bank has initiated coverage of the company&#8217;s stock with a Buy rating and a price target of 39 euros ($41.84) per share, indicating a potential 53.2% upside from the current share price.
The company, listed on the Frankfurt Stock Exchange, operates three main divisions: Peak Mining for bitcoin mining, Taiga Cloud certified as an "Elite" partner of NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) for cloud computing, and Ardent Data Centers for data center infrastructure. Berenberg believes that the market has largely overlooked the growth potential of Taiga Cloud&#8217;s offerings.
"We believe that the significant investments that Northern Data has made in the latest liquid-cooling mining technology and the expansion of the company at its existing North Dakota and new Texas sites should enable it to achieve high bitcoin production and mining profitability," Berenberg analysts Gerhard Orgonas and Jenna Xu said in a note to clients. 
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38478483/crypto-analyst-predicts-this-altcoin-will-explode-260-in-2024-and-its-not-dogecoin-or-shib?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Crypto Analyst Predicts This Altcoin Will Explode 260% In 2024, And Its Not Dogecoin Or Shiba Inu</a>
Despite the recent changes, this isn&#8217;t the first transformation for Northern Data. The company, formerly known as Biosilu Healthcare, was a pharmaceutical broker for Asian markets until early 2018. It then shifted to crypto mining operations and was renamed Northern Bitcoin, making it one of the earliest listed firms to enter the crypto scene.
With the recent acquisition of a data center in Pittsburgh, Northern Data is expected to continue evolving. The company also stands to benefit from advances made by its subsidiary, Ardent Data Centers, in liquid-cooling technology for its crypto mining operations.
Why It Matters: The shift in Northern Data&#8217;s business model comes at a crucial time for the cryptocurrency industry. <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38364309/bitcoin-miners-in-for-a-rough-ride-after-halving-report">A recent report</a> by Coinshares predicts a substantial rise in production costs for Bitcoin miners due to the halving, with electricity and overall production costs nearly doubling.
Meanwhile, Bitcoin miners are upgrading their i<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38350483/bitcoin-miners-upgrade-infrastructure-embrace-ai-to-prepare-for-dip-in-revenue-after-halvi">nfrastructure and embracing AI</a> to prepare for a potential dip in revenue following the halving. This shift in strategy is reflected in Northern Data&#8217;s move towards cloud solutions, which could position the company for significant growth in the coming years.
Furthermore, industry leaders like Block are also <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38413962/jack-dorsey-wants-to-make-bitcoin-mining-as-easy-as-plugging-in-a-lamp">working to make Bitcoin mining more accessible</a>, with the development of a complete Bitcoin mining system. 
Meanwhile, other major players in the industry, such as Marathon Digital, are also making strategic moves to adapt to the changing landscape. Marathon Digital has raised its <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38456246/bitcoin-miner-marathon-digital-targets-its-hash-rate-to-double-in-2024">2024 hash rate</a> growth target in response to Bitcoin&#8217;s fourth halving event, which reduced miners&#8217; block subsidy rewards from 6.25 BTC to 3.125 BTC.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38460505/are-dogecoin-and-shiba-inu-primed-for-the-next-leg-up?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Are Dogecoin And Shiba Inu Primed For The Next Leg Up?</a>
Image Via Shutterstock 
<div style="font-family: 'Lato', sans-serif">
<hr style="border: 0;height: 5px;background: #225aa9" />
<div style="background-color: #f5f5f5;background-position: center;background-size: cover;justify-content: center"></div>

 Engineered by 
 Benzinga Neuro, Edited by 
 
 <a href="None" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none"> 
 Kaustubh Bagalkote</a> 
 
 
<hr style="border: 0;height: 1px;background: #225aa9" />

 The GPT-4-based Benzinga Neuro content generation system exploits the 
 extensive Benzinga Ecosystem, including native data, APIs, and more to 
 create comprehensive and timely stories for you. 
 <a href="https://www.benzinga.com/topic/kaustubh-bagalkote" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Learn more.</a>
 
<hr style="border: 0;height: 5px;background: #225aa9" />
 </div>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

NDTAF

NVDA

This Nvidia Partner And Bitcoin Miner Stock Could Surge By 50%, Say Analysts

In a bid to challenge Apple Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) flagship products, the iPhone and Vision Pro, top competitors,&nbsp;Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and&nbsp;Alphabet Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), are reportedly making significant changes to their strategies.
What Happened: In his latest weekly &#8220;Power On&#8221; newsletter, Bloomberg columnist, Mark Gurman said that the Mark Zuckerberg-led company&#8217;s <a href="https://www.benzinga.com/news/24/04/38372183/meta-takes-a-leaf-out-of-googles-playbook-aims-to-make-quest-os-the-android-of-mixed-reality">decision to open up its virtual reality</a> operating system to all headset manufacturers can be seen as a direct challenge to Apple&#8217;s closed ecosystem.
&#8220;That's the same approach that made Windows the dominant computer operating system and Android the most used smartphone software,&#8221; said Gurman, adding, &#8220;It's also a potential opportunity to get a jump on Apple.&#8221;&nbsp;
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/04/38349837/elon-musk-agrees-every-american-household-will-have-a-1-000-per-month-home-robot-in-7-years-time?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Agrees Every American Household Will Have A $1,000-Per-Month Home Robot In 7 Years&#8217; Time</a>
Meanwhile, Google has <a href="https://www.benzinga.com/news/24/04/38331602/googles-deepmind-to-lead-unified-ai-charge-as-company-seeks-to-outpace-microsoft">restructured its management</a>, appointing Pixel hardware chief&nbsp;Rick Osterloh&nbsp;to oversee the Android operating system. For years, Osterloh and the Pixel team have faced pressure to generate greater revenue from their devices. 
However, within the Android team, the Pixel division was perceived simply as another client, akin to Samsung Electronics Co., rather than being recognized as an integral component of the company&#8217;s operations.
&#8220;The Google move mirrors Tim Cook's first major management overhaul in 2012, when he elevated services chief Eddy Cue and then-macOS software leader Craig Federighi to broader roles, while pushing out former iOS head Scott Forstall,&#8221; Gurman stated. 
He went on to note another conceivable factor contributing to the shift at Google — the tech giant&#8217;s struggle to establish a presence in the mixed-reality realm. Despite ongoing efforts in augmented reality development over the years, Google noticeably lags behind Apple and Meta in this arena. 
Why It Matters: Apple&#8217;s Vision Pro, a mixed-reality headset, has been a topic of discussion in the tech industry. <a href="https://www.benzinga.com/markets/equities/23/06/32829441/apple-vision-pro-headset-too-expensive-jim-cramer-explains-why-the-3-499-price-tag-may-not-matte">Despite its high price</a>, the device has been praised for its advanced technology. 
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Meta CEO&nbsp;Mark Zuckerberg&nbsp;has been critical of the Vision Pro. During Meta&#8217;s first-quarter earnings call, he described the headset as <a href="https://www.benzinga.com/news/24/04/38424000/mark-zuckerberg-shades-apple-vision-pro-once-again-calls-it-fashionable-ai-glasses-without-a-display">&#8220;fashionable AI glasses without a display.&#8221;</a> On the other hand, OpenAI CEO Sam Altman lauded it as the &#8220;<a href="https://www.benzinga.com/general/entertainment/24/02/37048792/sam-altman-lauds-apple-vision-pro-second-most-impressive-tech-since-the-iphone">second most impressive tech</a> since the iPhone&#8221; by OpenAI co-founder&nbsp;Sam Altman.
Vision Pro has also faced criticism for its high price, with some <a href="https://www.benzinga.com/general/entertainment/24/02/37118665/apple-vision-pro-why-some-users-have-decided-to-return-the-headset-while-others-cant-imagin">users returning the device</a> due to design and performance issues, but the tech giant has high hopes for the headset, considering their <a href="https://www.benzinga.com/news/24/03/37910624/apple-sets-sight-on-china-vision-pro-headset-launching-this-year">plans for its international expansion</a>. 
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/04/38474588/elon-musk-claps-back-at-facebook-co-founders-consumer-fraud-accusations-against-tesla-should-go-to-j?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Claps Back At Facebook Co-Founder&#8217;s Consumer Fraud Accusations Against Tesla: &#8216;Should Go To Jai</a>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Social Media

How Apple's Arch Rivals Meta And Google Are Revamping Their Plans To Take On The Might Of iPhone And Vision Pro

Crypto analysts have observed a significant decrease in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) whale activity since March 14, sparking speculation about a potential price surge soon.
What Happened: Ali Martinez, a prominent crypto analyst, took to social media platform X to highlight the unusual lull in Bitcoin whale transactions. He suggested that a sudden increase in whale activity could be the catalyst for a surge in Bitcoin prices.
&#8220;Since March 14, there&#8217;s been a noticeable dip in #Bitcoin whale activity. A surge in whale transactions could be the spark needed to boost $BTC prices!&#8221; Ali wrote.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Since March 14, there&#39;s been a noticeable dip in <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> whale activity. A surge in whale transactions could be the spark needed to boost <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> prices! <a href="https://t.co/hd6fwpp9Gp">pic.twitter.com/hd6fwpp9Gp</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1784146303963840978?ref_src=twsrc%5Etfw">April 27, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Whales, a term used to describe individuals or entities with significant <a href="https://www.benzinga.com/topic/whales">cryptocurrency holdings</a>, have the potential to influence market dynamics. The absence of whale activity in the Bitcoin market has led to speculation about a potential price rally.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38475783/bitcoin-faces-second-danger-zone-as-analyst-warns-of-potential-downside-heres-what-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Faces &#8216;Second Danger Zone&#8217; As Analyst Warns Of Potential Downside: Here&#8217;s What To Expect</a>
Why It Matters: The recent decrease in whale activity follows a series of significant events in the cryptocurrency market. Just a day before Martinez&#8217;s observation, a whale made waves by depositing a staggering $77.67 million worth of Bitcoin <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38476692/as-bitcoin-plunges-whale-makes-waves-with-77-67m-deposit-into-kraken">into the Kraken exchange</a>. This move was particularly noteworthy due to the size of the transaction and the whale&#8217;s previous accumulation.
However, the market is currently in a precarious position, with a potential downside looming, according to a prominent crypto analyst. The analyst, known by the pseudonym RektCapital, has cautioned that Bitcoin may be heading for another downturn within <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38475783/bitcoin-faces-second-danger-zone-as-analyst-warns-of-potential-downside-heres-what-">the next two weeks</a>. This warning adds a layer of complexity to the current market situation.
Price Action: Bitcoin last traded at $62,659, marking a decrease of 0.71% over the past 24 hours. However, it boasts a notable 41.85% increase year-to-date. according to&nbsp;<a href="https://benzinga.grsm.io/register174" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38479551/is-the-memecoin-supercycle-over-mad-crypto-alpha-with-ivan?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Is The &#8216;Memecoin Supercycle&#8217; Over? Mad Crypto Alpha With Ivan</a>
Image: Eivind Pedersen from Pixabay
<div style="font-family: 'Lato', sans-serif">
<hr style="border: 0;height: 5px;background: #225aa9" />
<div style="background-color: #f5f5f5;background-position: center;background-size: cover;justify-content: center"></div>

 Engineered by 
 Benzinga Neuro, Edited by 
 
 <a href="None" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none"> 
 Kaustubh Bagalkote</a> 
 
 
<hr style="border: 0;height: 1px;background: #225aa9" />

 The GPT-4-based Benzinga Neuro content generation system exploits the 
 extensive Benzinga Ecosystem, including native data, APIs, and more to 
 create comprehensive and timely stories for you. 
 <a href="https://www.benzinga.com/topic/kaustubh-bagalkote" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Learn more.</a>
 
<hr style="border: 0;height: 5px;background: #225aa9" />
 </div>
Image via Shutterstock

Whales On Vacation? Bitcoin Slumber Sparks Talk Of Price Explosion — Analyst Says This 'Could Be The Spark Needed'

Frequent leaker&nbsp;Sonny Dickson on Sunday shared a photo <a href="https://www.benzinga.com/news/24/04/38086575/iphone-16-rumors-roundup-everything-we-know-about-apples-next-flagship">revealing the screen sizes for the</a> upcoming Apple Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) iPhone 16 lineup, along with details about the camera bump.
What Happened: Dickson took to X, formerly Twitter, and shared an image, which appears to showcase the dummy models of the upcoming iPhone series, reiterating rumors about <a href="https://www.benzinga.com/news/23/05/32524166/apples-iphone-16-pro-max-design-leak-reveals-impossibly-gigantic-display">gigantic iPhone 16 Pro Max sizes</a>. 
As per the image, the standard iPhone 16 will retain the 6.1-inch screen size, while the Pro model will feature&nbsp;a 6.3-inch screen. The Plus&nbsp;model will maintain&nbsp;the traditional 6.7-inch screen, but&nbsp;the iPhone Pro Max will have a larger 6.9-inch screen.
The photo also suggests that the next Pro and Pro Max models will be slightly wider than the regular and Plus sizes, a trend that was also <a href="https://www.benzinga.com/news/23/09/34501203/apple-iphone-15-series-with-usb-c-tetraprism-camera-announced-check-price-and-availability-details">observed in the iPhone 15 lineup</a>. It also showcases different camera positioning for the standard and Plus version of the iPhone 16. 
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/04/38460718/elon-musk-weighs-in-after-x-user-says-banning-tiktok-sets-a-precedent-that-government-can-ban-any-ap?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Weighs In After X User Says &#8216;Banning TikTok Sets A Precedent That Government Can Ban Any App&#8230;&#8217;</a>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://t.co/tVNl82VjYx">pic.twitter.com/tVNl82VjYx</a>
&mdash; Sonny Dickson (@SonnyDickson) <a href="https://twitter.com/SonnyDickson/status/1784540264872423518?ref_src=twsrc%5Etfw">April 28, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The latest leak was first <a href="https://appleinsider.com/articles/24/04/28/iphone-16-screen-sizes-allegedly-revealed-in-new-leak">reported</a> by AppleInsider. 
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: The leaked photo follows a series of revelations about the iPhone 16. Earlier in April, Dickson shared&nbsp;<a href="https://www.benzinga.com/24/04/38085117/leaked-iphone-16-dummies-hint-at-apples-biggest-most-extreme-redesign-in-years">dummy units of the iPhone 16 and iPhone 16 Pro</a>, showcasing significant design changes for the upcoming models. This leak, along with the latest one, provides a comprehensive look at the new iPhone&#8217;s design and specifications.
Moreover, rumors about the iPhone 16 series have been circulating for a while. In August last year, analyst&nbsp;Jeff Pu&nbsp;from&nbsp;Haitong International Securities&nbsp;shared insights into the potential enhancements that could redefine smartphone photography and connectivity, including the speculated&nbsp;<a href="https://www.benzinga.com/news/23/08/33873580/apple-iphone-16-pro-could-go-big-on-cameras-and-wireless-connectivity">inclusion of a 48-megapixel Ultra Wide camera sensor</a>&nbsp;in the iPhone 16 Pro. This suggests that the iPhone 16 series could bring significant improvements in camera technology.
Furthermore, the iPhone 16&#8217;s camera redesign may boost spatial video recording capabilities for the&nbsp;<a href="https://www.benzinga.com/news/24/02/36973556/apple-iphone-16s-rumored-camera-redesign-may-boost-spatial-video-recording-capabilities-for-vision-p">Vision Pro mixed reality headset</a>, a move that could further enhance the iPhone 16&#8217;s appeal.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/04/38474588/elon-musk-claps-back-at-facebook-co-founders-consumer-fraud-accusations-against-tesla-should-go-to-j?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Claps Back At Facebook Co-Founder&#8217;s Consumer Fraud Accusations Against Tesla: &#8216;Should Go To Jail For Impersonating A Smart Person&#8217;</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Rumors

Giant Leap For Apple? New Leak Of iPhone 16 Lineup Confirms Recent Rumors About Screen Sizes And Camera Bump

Venture capitalist Chamath Palihapitiya revealed his surprising ranking of Tesla Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) ventures beyond electric vehicles. He declared &#8220;<a href="https://www.benzinga.com/news/24/04/38396288/teslas-robotaxi-to-be-called-cybercab-elon-musk-says-self-driving-fleet-will-be-like-combination-of" target="_blank" rel="noreferrer noopener">Ride-sharing</a> is number one. And the absolute probably by an order of magnitude,&#8221; when asked about the company&#8217;s biggest potential growth areas.
The Autopilot-Fueled Revolution? Palihapitiya&#8217;s bullishness on ride-sharing stems from its potential synergy with Tesla&#8217;s <a href="https://www.benzinga.com/news/24/04/38351810/tesla-fsd-is-now-nearly-50-cheaper-than-when-elon-musk-called-it-very-low-just-under-a-year-ago">self-driving technology</a>. 
&#8220;In order for&nbsp;ride-sharing and ride-hailing to&nbsp;really&nbsp;work the way that they envision it, you will have level five autonomy supported in jurisdictions where&#8230; you can summon a car from your app and if you don&#8217;t have access to a mobile phone, you can go to these bus stop equivalents and just press a button and the car comes to you,&#8221; he said on the latest episode of the All-In Podcast.
This seamless user experience, he believes, powered by Tesla&#8217;s Autopilot technology, is &#8220;a gargantuan&nbsp;game changer.&#8221;
&#8220;Just to contrast,&nbsp;Uber&nbsp;and&nbsp;Lyft&nbsp;seemingly are profitable because they find pricing power to raise prices. So if Tesla enters in as the third player in that field and just guts pricing, which I think would make sense for them to do, I think this thing is just gangbusters nuclear,&#8221; he added.
However, a bullish Tesla analyst, whose fund includes the EV giant&#8217;s stock in its portfolio, last week <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38453144/teslas-robotaxi-plan-hasnt-excited-investors-but-fund-manager-gary-black-says-this-" target="_blank" rel="noreferrer noopener">highlighted the disconnect</a> between CEO Elon Musk&#8216;s emphasis on Tesla&#8217;s commitment to autonomy and institutional investor sentiment. However, he noted the potential for a narrative shift on Aug. 8, when Tesla is set to unveil its robotaxis.
See Also: <a href="https://www.benzinga.com/money/best-tech-stocks" target="_blank" rel="noreferrer noopener">Best Tech Stocks Right Now</a>
Charged Up On Energy:&nbsp;While ride-sharing took the pole position, Palihapitiya said the second-biggest opportunity was in Tesla&#8217;s energy business — something that even the company itself has been&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38064935/teslas-hidden-powerhouse-ev-giant-tries-to-shift-investor-focus-to-energy-business-amid-auto-slowdow" rel="noreferrer noopener">drawing more investor attention</a>&nbsp;to.
He pointed out the current state of affairs, saying, &#8220;Today in America, if you look at the energy infrastructure, the utilities keep raising rates and they keep raising rates independent of what it costs to generate energy.&#8221;
Palihapitiya proposed a bold solution: transforming millions of homes into &#8220;mini-utilities&#8221; equipped with Tesla solar panels and battery systems.&nbsp;
He said companies like&nbsp;Palmetto, a leading residential solar installer in which he has heavily invested in, are at the forefront of this movement.&nbsp;
These systems would grant homeowners independence from the traditional grid, allowing them to &#8220;be&nbsp;totally&nbsp;resilient and independent of the utilities.&#8221;
Palihapitiya believes this trend, coupled with net-metering policies that allow homeowners to sell excess solar energy back to the grid, could create a seismic shift in the energy landscape.&nbsp;
&#8220;So if you have 100 million of these mini utilities competing against 1,700 incumbents&#8230; that&#8217;s an upheaval of an enormous amount of market cap.&#8221;
Not So Optimistic On Optimus:&nbsp;While Palihapitiya is enthusiastic about Tesla&#8217;s ride-sharing and energy endeavors, he expressed some reservations about the company&#8217;s&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38395385/elon-musk-says-tesla-optimus-humanoid-robot-might-be-available-externally-by-the-end-of-next-year-he" rel="noreferrer noopener">humanoid robot project</a>,&nbsp;Optimus. He argues that &#8220;the conclusion that I came to&#8230; is I suspect instead of having a generalized robot, you have very specific use case robots that look differently.&#8221;
&#8220;So for example &#8230; there&#8217;s something called intuitive surgical, which is essentially a robot that operates on you. And if you look at that, it doesn&#8217;t look anything like what you would think a robot would look like,&#8221; he said.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38479312/watershed-moment-says-tesla-analyst-as-elon-musk-makes-surprise-china-visit-to-repo" target="_blank" rel="noreferrer noopener">&#8216;Watershed Moment,&#8217; Says Tesla Analyst As Elon Musk Makes Surprise China Visit To Reportedly Discuss FSD Rollout And Data Transfer Overseas</a>
Image made via photos on <a href="https://www.flickr.com/photos/cmichel67/25574710740">Flickr</a> and Shutterstock

Billionaire Investor Chamath Palihapitiya Ranks Tesla's Non-EV Businesses, Picks This As No. 1 'Absolute Probably By An Order Of Magnitude'

Dollar Consolidates But Adjustment Is Not Over

Where We Stand

Fixed Income Investment Outlook Q2 2024: A Winding, Downward Path

Emerging Markets - A Changed Asset Class?

Global Growth Returns And The 2025 Fiscal Reckoning

EM Debt 2024: Solid Beginnings

Global Growth Is Back As Fiscal Reckoning Looms In 2025

First Trust Emerging Markets Local Currency Bond ETF declares $0.132 dividend

First Trust Emerging Markets Local Currency Bond ETF declares $0.1325 dividend

Week Ahead: FOMC, U.S. Jobs, EMU Inflation, JPY Pressure

AAAU

ACTV

ACWI

ACWV

AEMB

AFMC

AFSM

AFTY

ANGL

ARKK

ASET

ASHR

ASHS

AVEM

AVES

AVUV

AYTEF

BAPR

BBCB

BBEU

BBHY

BCHG

BGLD

BITO

BKHY

BLES

BRZU

BSJN

BSJO

BSJP

BSJQ

BSJR

BSJS

BSJT

BUYZ

BYOB

CBON

CEMB

CHIM

CHIQ

CHIR

CHIU

CHIX

CHRG

CLOI

CNXT

CNYA

COPJ

COPX

CORP

CPER

CQQQ

CRBN

CXSE

DBEM

DBEU

DBEZ

DFEV

DFHY

DIEM

DIVS

DRSK

DWLD

DXYN

EBND

ECNS

EFIX

EJUL

EMBD

EMCB

EMCR

EMFM

EMHC

EMHY

EMLC