American Century ETF Trust Avantis U.S. Large Cap Equity ETF (ARCA: AVLC)

American Century ETF Trust Avantis U.S. Large Cap Equity ETF (ARCA:AVLC), Trade Ideas

American Century ETF Trust Avantis U.S. Large Cap Equity ETF

Collegium Pharmaceutical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COLL#NASDAQ">COLL</a>), a leading, diversified specialty pharmaceutical company committed to improving the lives of people living with serious medical conditions, today announced it has entered into an authorized generic agreement with Hikma Pharmaceuticals USA Inc. ("Hikma"), pursuant to which Hikma will have the exclusive right to sell the authorized generic versions of Nucynta&#xAE; and Nucynta&#xAE; ER ("the Nucynta Franchise") in the United States. &nbsp;
"Our agreement with Hikma bolsters the value of the Nucynta Franchise through 2025 and beyond," said Joe Ciaffoni, President and Chief Executive Officer of Collegium. "Collegium is pleased to work with Hikma, an industry leader, to ensure that these important products continue to be manufactured to the highest quality standards and remain broadly and consistently accessible to appropriate patients."
Under the terms of the agreement:
<ul>
<li>Collegium will manufacture and supply Hikma with all authorized generic product for sale on an exclusive basis during the term of the agreement.</li>
<li>Hikma will sell the authorized generic forms of the Nucynta Franchise in the United States, commencing 30 days prior to the anticipated loss of exclusivity for each product, or earlier under certain circumstances.
<ul>
<li>Collegium will receive a meaningful share of net profits of the authorized generic products, that declines based on the number of generic entrants, if any. &nbsp;</li>
</ul>
</li>
</ul>

News

Contracts

COLL

Collegium Announces Authorized Generic Agreement With Hikma Pharmaceuticals USA Inc. For Nucynta And Nucynta ER

Biotech

Events

General

PRCT

PROCEPT BioRobotics Presented Post-Market Survey At JUA On Aquablation Therapy Outcomes For Men In Japan With Lower Urinary Tract Symptoms Due To Benign Prostatic Hyperplasia

California Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CALB#NASDAQ">CALB</a>) reported quarterly earnings of $0.57 per share which beat the analyst consensus estimate of $0.54 by 5.56 percent. This is a 10.94 percent decrease over earnings of $0.64 per share from the same period last year. The company reported quarterly sales of $19.42 million which missed the analyst consensus estimate of $19.53 million by 0.56 percent. This is a 2.24 percent decrease over sales of $19.86 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

CALB

California Bancorp Q1 Adj $0.57 Beats $0.54 Estimate, Sales $19.42M Miss $19.53M Estimate

BMRA

Biomerica Announces Multi-Year Exclusive Distribution Agreement With A UAE Healthcare Conglomerate, Commencing With An Initial Order For EZ Detect And Aware Products

Rosenblatt analyst Barton Crockett maintains Charter Communications (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) with a Neutral and lowers the price target from $297 to $292.

Price Target

Analyst Ratings

CHTR

Rosenblatt Maintains Neutral on Charter Communications, Lowers Price Target to $292

Wedbush analyst Gerald Pascarelli reiterates MGP Ingredients (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGPI#NASDAQ">MGPI</a>) with a Outperform and maintains $120 price target.

Reiteration

MGPI

Wedbush Reiterates Outperform on MGP Ingredients, Maintains $120 Price Target

– Mr. Leggett brings more than two decades of experience as an investment banker and corporate executive leading financial strategy and operations for life science companies –
<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.stoketherapeutics.com%2F&amp;esheet=53958117&amp;newsitemid=20240429846358&amp;lan=en-US&amp;anchor=Stoke+Therapeutics%2C+Inc.&amp;index=1&amp;md5=b686dd660b08c2a64cfdee9507cb61d5">Stoke Therapeutics, Inc.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STOK#NASDAQ">STOK</a>), a biotechnology company dedicated to addressing the underlying cause of severe diseases by upregulating protein expression with RNA-based medicines, today announced the appointment of Thomas (Tommy) Leggett as Chief Financial Officer. In this role, Mr. Leggett will be responsible for overseeing all aspects of the Company's financial strategy and operations. Mr. Leggett succeeds Stephen Tulipano, CPA, MBA, who resigned his position as Stoke's Chief Financial Officer effective Tuesday, May 7.
"I want to thank Mr. Tulipano for his contributions to Stoke over the past five years. He has led multiple financings, including Stoke's highly successful Initial Public Offering in 2019 and the recent $125M public offering and leaves the Company well positioned to execute on our goal of delivering the first potential disease-modifying therapy to patients with Dravet syndrome," said Edward M. Kaye, M.D., Chief Executive Officer of Stoke Therapeutics. "We welcome Mr. Leggett to Stoke and look forward to working with him to build on this strong foundation as Stoke enters a new phase of growth, starting with advancing STK-001 into a registrational study and looking ahead to developing our pipeline of potential disease-modifying medicines."
"The recently announced landmark data from the studies of STK-001 for the treatment of Dravet syndrome mark the start of a very exciting time for Stoke as it transitions to a late-stage clinical company while building a commercial organization," said Mr. Leggett. "I look forward to working with the Stoke leadership team and share their deep commitment to Stoke's mission of delivering novel new medicines to people living with severe diseases like Dravet syndrome."
Mr. Leggett brings more than 20 years of experience as a biotechnology executive, board member and as an investment banker. He has led financial strategy and operations and secured financing for dozens of life science companies. Prior to joining Stoke, Mr. Leggett served as Chief Financial Officer at Affinia Therapeutics. Before joining Affinia Therapeutics, Mr. Leggett was Chief Financial Officer at Black Diamond Therapeutics, where he led the Company's $85 million Series C financing and $231 million IPO. Before joining Black Diamond, Mr. Leggett served as Chief Financial Officer at Axcella Health, where he helped raise $156 million across three financings, including an IPO. Mr. Leggett spent more than a decade as an investment banker for the healthcare groups at J.P. Morgan Securities, Lazard Frères &amp; Company, and UBS Securities. Mr. Leggett also currently serves on the board of directors of Clover Biopharmaceuticals, Ltd.
Mr. Leggett holds a Master of Business Administration in Finance from the Wharton School at the University of Pennsylvania and earned his Bachelor of Arts in Economics from Columbia University.

Management

STOK

Stoke Therapeutics Appoints Thomas Leggett As Chief Financial Officer, Succeeds Stephen Tulipano Who Resigned His Position As Stoke's CFO Effective Tuesday, May 7

Oppenheimer analyst Scott Schneeberger maintains Pool (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POOL#NASDAQ">POOL</a>) with a Outperform and lowers the price target from $436 to $416.

POOL

Oppenheimer Maintains Outperform on Pool, Lowers Price Target to $416

There's nothing like the good old days when you lived at home with your parents, received an allowance and didn't have to stress about money.&nbsp;
For most adults, those days are long gone. But the key word there is most.&nbsp;
<a href="https://pro.morningconsult.com/analyst-reports/gen-z-money-personal-finances">According to a Morning Consult survey</a> of approximately 1,000 Gen Zers, 33% of adults say they receive an allowance or some form of financial assistance from their parents.
Yes, that's right. Approximately one-third of those surveyed are still getting that allowance you're dreaming of. But there's more to it than that.
Don't Miss:
<ul>
<li>The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?</li>
<li>For many first-time buyers, a house is about 3 to 5 times your household annual income &#8211;<a href="http://www.benzinga.com/money/smartasset"> Are you making enough?</a></li>
</ul>
<h2 class="wp-block-heading">The Stress Is Real</h2>
While many people from other generations believe that Gen Zers are slacking and taking advantage of their parents, this is a stereotype. This generation is faced with unique financial circumstances that challenge them at every turn.&nbsp;
For example, it's never been more expensive to attend college. That's in addition to record-high inflation, not to mention concerns about grocery prices, the cost of housing and the cost of fueling their vehicles.&nbsp;
Nearly 40% of survey respondents said "they're barely scraping by or completely underwater financially."
In other words, there may be a good reason why some of these people are turning to their parents for financial support.
But all of these challenges haven't soured Gen Z on the future. Here are some additional data points from the survey:
<ul>
<li>37% of Gen Zers primarily use debit cards for clothing purchases, but brands should keep an eye on the increasing use of buy-now-pay-later services.</li>
<li>60% of Gen Zers plan to retire at age 65 or younger.</li>
<li>More than 60% say they're optimistic about their financial future.</li>
<li>A majority of respondents believe they'll perform better financially than their parents.&nbsp;</li>
</ul>
Trending: If the United States had access to<a href="https://www.benzinga.com/money/public-hys-avgamerican"> today&#8217;s high-yield savings accounts rates</a> in 2015, it wouldn&#8217;t need to save another penny.
<h2 class="wp-block-heading">How Gen Z Is Tackling Financial Challenges</h2>
Gen Z is facing their financial hurdles head-on, demonstrating resilience and strategic thinking far beyond their years. Despite the skepticism of older generations, this demographic is not taking the path of least resistance.&nbsp;
Instead, they&#8217;re seeking ways to better their financial futures and setting ambitious goals.
Many Gen Zers are beginning to invest and save at an early age, recognizing the power of compound interest and the importance of financial security. They are not only relying on traditional savings accounts but are also venturing into stocks, bonds and retirement funds.&nbsp;
This proactive approach to finance, combined with a keen awareness of the economic landscape, sets them apart.
Additionally, spending habits reflect a blend of caution and savvy. The preference for debit cards over credit cards suggests a wariness of debt, while the interest in buy-now-pay-later services indicates a desire for financial flexibility without the long-term commitment of traditional credit.
Education on personal finance has become a cornerstone of Gen Z&#8217;s strategy. Many turn to online resources, financial literacy apps and social media to educate themselves on managing money, investing and budgeting.&nbsp;
This self-education trend is empowering Gen Z to make informed decisions that align with their financial goals.
Regardless of age, <a href="https://www.benzinga.com/money/smartasset">consulting a financial adviser</a> can help you manage your finances today and prepare for a better tomorrow.&nbsp;
Read Next:
<ul>
<li>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/1milsaved"> The percentage may shock you</a>.</li>
<li>82% of Americans aren&#8217;t using<a href="https://www.benzinga.com/money/public-hys"> this government secured 5% passive income stream</a>, are you one of them?</li>
</ul>
&#x2A;This information is not financial advice, and personalized guidance from a financial adviser is recommended for making well-informed decisions.
Chris Bibey has written about personal finance and investment for the past 15 years in a variety of publications and for a variety of financial companies. He is not a licensed financial adviser, and the content herein is for information purposes only and is not, and does not constitute or intend to constitute, investment advice or any investment service. While Bibey believes the information contained herein is reliable and derived from reliable sources, there is no representation, warranty or undertaking, stated or implied, as to the accuracy or completeness of the information.

Personal Finance

Survey Finds That 33% of Gen Z Adults Still Receive an Allowance from Their Parents - Why Is That?

Southern Calif Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BCAL#NASDAQ">BCAL</a>) reported quarterly earnings of $0.26 per share which met the analyst consensus estimate. The company reported quarterly sales of $21.907 million which missed the analyst consensus estimate of $22.782 million by 3.84 percent. This is a 17.21 percent decrease over sales of $26.462 million the same period last year.

BCAL

Southern Calif Bancorp Q1 2024 GAAP EPS $0.26, Inline, Sales $21.907M Miss $22.782M Estimate

Full Year 2023 Selected Financial Results
Revenues
Revenue decreased by HK$0.6 million, or 0.5%, to HK$119.1 million (US$15.2 million) for the fiscal year ended December 31, 2023 compared to HK$119.7 million for the same period in 2022 primarily because of the decrease in revenue for our curling wands and irons products.
The following table presented the Company's revenues by product types for the fiscal years ended December 2023 and 2022:
<figure class="table"> 
<table>
<tbody>
<tr>
<td>&nbsp;</td>
<td colspan="5">For the years ended December 31,</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>&nbsp;</td>
<td colspan="2">2023</td>
<td>&nbsp;</td>
<td colspan="2">&nbsp;2022</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Revenues</td>
<td>&nbsp;</td>
<td colspan="2">HK$ Million</td>
<td>&nbsp;</td>
<td colspan="2">HK$ Million</td>
<td colspan="3">Variance %</td>
</tr>
<tr>
<td>Products</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Curling Wands and Irons</td>
<td>HK$</td>
<td>32.8</td>
<td>HK$</td>
<td>38.3</td>
<td>(14.5</td>
<td>)%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Flat Irons and Hair Straighteners</td>
<td>82.8</td>
<td>78.6</td>
<td>5.3</td>
<td>%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Others</td>
<td>3.5</td>
<td>2.8</td>
<td>27.6</td>
<td>%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Total revenues</td>
<td>119.1</td>
<td>119.7</td>
<td>(0.5</td>
<td>)%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
</tbody>
</table>
</figure>
 &nbsp;
The following table presented the Company's revenues by geographical areas based on the location of our sole customer for the fiscal years ended December 31, 2023 and 2022:
<figure class="table"> 
<table>
<tbody>
<tr>
<td>&nbsp;</td>
<td colspan="5">For the years ended December 31,</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>&nbsp;</td>
<td colspan="2">2023</td>
<td>&nbsp;</td>
<td colspan="2">&nbsp;2022</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Revenues</td>
<td>&nbsp;</td>
<td colspan="2">HK$ Million</td>
<td>&nbsp;</td>
<td colspan="2">HK$ Million</td>
<td colspan="3">Variance %</td>
</tr>
<tr>
<td>Geographical areas</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Europe</td>
<td>HK$</td>
<td>65.4</td>
<td>HK$</td>
<td>66.7</td>
<td>(1.9</td>
<td>)%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>North America</td>
<td>48.4</td>
<td>45.1</td>
<td>7.3</td>
<td>%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>South America</td>
<td>-</td>
<td>2.7</td>
<td>(100</td>
<td>)%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Asia and others</td>
<td>5.3</td>
<td>5.2</td>
<td>1.7</td>
<td>%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Total revenues</td>
<td>119.1</td>
<td>119.7</td>
<td>(0.5</td>
<td>)%</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
</tbody>
</table>
</figure>
 &nbsp;
Cost of sales
Cost of sales decreased to HK$97.0 million (US$12.4 million) for the fiscal year ended December 31, 2023, representing a decrease by HK$3.9 million from HK$100.9 million in the same period in 2022. The fluctuation of cost of sales was in line with the decrease in our revenue during the same period.
Gross profit
Gross profit for the fiscal year ended December 31, 2023, was HK$22.1 million (US$2.8 million), an increase of HK$3.3 million from HK$18.8 million for the same period in 2022.
During our fiscal year ended December 31, 2023, the COVID-19 Pandemic has been successfully brought under control and the adverse impacts of the pandemic have been gradually dissipating as economic activities resume to normal. The supply and prices of raw materials became stable during the year, and thus led to the decrease in the company's average unit costs and increase in gross profit for the year.
The Company's gross profit margin for fiscal year ended December 31, 2023 rose to 18.6% as compared to gross profit margin of 15.7% for the fiscal year ended December 31, 2022.
Selling and marketing expenses
Selling and marketing expenses was HK$2.0 million (US$0.3 million) for the fiscal year ended December 31, 2023, which decreased by HK$0.1 million from HK$2.1 million in the same period in 2022. The decrease during the fiscal year ended December 31, 2023 from the same period in 2022 was due mainly to a decrease in overall level of shipping of products.
General and administrative expenses
General and administrative expenses increased by HK$1.3 million to HK$20.5 million (US$2.6 million) for the fiscal year ended December 31, 2023 from HK$19.2 million for the fiscal year ended December 31, 2022. This increase was due mainly to the increase in staff costs and motor vehicles and travelling expenses as the travel restrictions of China and Hong Kong were lifted gradually during the fiscal year ended December 31, 2023.
Income (loss) from operations
Loss from operations decreased by HK$2.1 million to HK$0.4 million for the fiscal year ended December 31, 2023, from the loss from operations of HK$2.5 million for the fiscal year ended December 31, 2022. The improvement in the financial performance from operations during the fiscal year ended December 31, 2023 were primarily due to the combined effects of increase of gross profit of HK$3.4 million and the decrease of general and administrative expenses of HK$1.3 million during the fiscal year ended December 31, 2023.
Other income (expense), net
Major components of other income (expense) are exchange gain and loss, gain on disposal of property, plant and equipment, sundry income, government grant and bank interest income.
Other net income was HK$0.8 million (US$0.1 million) for the fiscal year ended December 31, 2023, which decreased by HK$12.2 million from HK$13.0 million in the same period in 2022. The decrease was due mainly to the decrease in gain on disposal of property, plant and equipment recognized during the fiscal year ended December 31, 2023.
Net income
The net income decreased by HK$10.1 million from a net income of HK$8.6 million for the year ended December 31, 2022 to a net loss of HK$1.5 million (US$0.2 million) for the fiscal year ended December 31, 2023. The decrease in the net income during the year ended December 31, 2023 was mainly attributable to the cumulative effect of the reasons set out above.
Recent development
The Company announced the closing of its initial public offering of 1,000,000 ordinary shares (the "Ordinary Shares") at a public offering price of $5.00 per share for total gross proceeds of $5,000,000, before deducting underwriting discounts and other offering expenses. The Ordinary Shares began trading on Nasdaq Capital Market on November 30, 2023, under the ticker symbol "FEBO".

FEBO

Fenbo Holdings FY23 EPS $(1.86); Revenue $15.25M

Oppenheimer analyst Christopher Glynn maintains OSI Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OSIS#NASDAQ">OSIS</a>) with a Outperform and raises the price target from $157 to $160.

OSIS

Oppenheimer Maintains Outperform on OSI Systems, Raises Price Target to $160

PETS

PetMed Express, Inc. Names Sandra Campos As New Chief Executive Officer And President

Meta Platforms Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) chief AI scientist Yann LeCun has revealed the reason behind his CEO Mark Zuckerberg not being a part of President Joe Biden-led administration's new <a href="https://www.benzinga.com/news/24/04/38310022/former-openai-researcher-who-predicted-theres-a-50-chance-ai-could-kill-us-all-is-now-heading-us-ai">AI Safety Institute</a>. This team does not include Tesla Inc. CEO and xAI founder Elon Musk, either.
What Happened: LeCun spilled the beans on the conspicuous absence of Zuckerberg from the panel of experts that has been assembled by the U.S. Secretary of Homeland Security, Alejandro Mayorkas.
Reacting to a post by Perplexity AI CEO Aravind Srinivas, LeCun revealed that they "were snubbed" by the Department of Homeland Security (DHS.)
<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">We were snubbed.
&mdash; Yann LeCun (@ylecun) <a href="https://twitter.com/ylecun/status/1784446022376186180?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 panel has several major tech personalities on its board, including OpenAI's Sam Altman, Microsoft Corp.'s Satya Nadella, and Alphabet Inc.'s Sundar Pichai, among others.
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.
The newly established board, under the leadership of President Biden, aims to advise DHS Secretary Alejandro Mayorkas and the White House on AI-related matters.
The board&#8217;s primary function is to advance the &#8220;responsible development and deployment&#8221; of AI technologies, as per a document published by DHS.
See Also: <a href="https://www.benzinga.com/news/24/04/38482626/do-you-like-exploding-menus-elon-musks-x-testing-a-new-video-game-like-interface-for-likes-reposts-a">&#8216;Do You Like Exploding Menus?&#8217; Elon Musk&#8217;s X Testing A New Video Game-Like Interface For Likes, Reposts And More</a>
Notable members of the board include CEOs from Adobe, Anthropic, AMD, Amazon Web Services, Cisco, IBM, Nvidia, Delta Air Lines, Humane Intelligence, Occidental Petroleum, and Northrop Grumman.
They are joined by academics from universities, civil rights and humanitarian institutions, the mayor of Seattle, Washington, and the governor of Maryland.
Mayorkas expressed his gratitude for the participation of the U.S. AI sector&#8217;s elite.
Why It Matters: The formation of the AI Safety and Security Board comes at a time when the regulation of AI technologies is a topic of global concern. The U.S. has been taking steps to address this issue, with the DHS board being the latest development.
Earlier in 2023, Vice President Kamala Harris announced the establishment of the <a href="https://www.benzinga.com/news/23/11/35530307/vice-president-kamala-harris-announces-new-ai-safety-institute-days-after-president-bidens-ai-execut">United States AI Safety Institute</a> following President Biden&#8217;s AI executive order. The institute was tasked with developing and publishing guidelines, benchmark tests, and best practices for examining potentially harmful AI systems.
However, the U.S. approach to AI regulation is <a href="https://www.benzinga.com/news/24/04/38310022/former-openai-researcher-who-predicted-theres-a-50-chance-ai-could-kill-us-all-is-now-heading-us-ai">considerably less hands-on</a> than that of the EU, leading analysts to question whether Europe&#8217;s more proactive stance on regulating tech firms operating within its economic area better serves citizen security and privacy.
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: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38459459/put-it-in-the-louvre-tech-bull-praises-google-parent-alphabets-major-breakout-quart?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Put It In The Louvre:&#8217; Tech Bull Praises Google Parent Alphabet&#8217;s &#8216;Major Breakout Quarter&#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.
Photos courtesy: Shutterstock

Social Media

Tech

Meta's Chief AI Scientist Reveals Mark Zuckerberg Was 'Snubbed' From Biden's AI Safety Institute; Elon Musk Also Missing From The List

Sonoco Implementing 6% Price Increase For Tubes And Cores in Mexico

Oppenheimer analyst Jason Helfstein maintains Maplebear (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CART#NASDAQ">CART</a>) with a Outperform and raises the price target from $36 to $48.

CART

Oppenheimer Maintains Outperform on Maplebear, Raises Price Target to $48

Wedbush analyst Jay McCanless reiterates PennyMac Mortgage IT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PMT#NYSE">PMT</a>) with a Neutral and maintains $15 price target.

Wedbush Reiterates Neutral on PennyMac Mortgage IT, Maintains $15 Price Target

<a href="https://www.reuters.com/business/autos-transportation/us-auto-regulator-opens-preliminary-evaluation-into-fords-mustang-mach-e-2024-04-29/">https://www.reuters.com/business/autos-transportation/us-auto-regulator-opens-preliminary-evaluation-into-fords-mustang-mach-e-2024-04-29/</a>
The U.S. auto regulator said on Monday it has opened a preliminary investigation into Ford Motor's <a href="https://www.reuters.com/markets/companies/F.N">(F.N), opens new tab</a> hands-free driving technology BlueCruise after being informed of two incidents involving Mustang Mach-E cars that collided with stationary vehicles.
The National Highway Traffic Safety Administration's Office of Defects Investigation (ODI) opened the evaluation to investigate BlueCruise, which provides partial driving automation with the expectation that the driver actively supervises its performance.
Both the collisions occurred during "nighttime lighting conditions", and each resulted in at least one fatality, according to the NHTSA.
ODI's initial investigation of the incidents confirmed BlueCruise's engagement in each of the vehicles right before the collision.
BlueCruise is only available on certain roadways and uses a camera-based driver monitoring system to determine driver attentiveness.
The investigation will evaluate the system's performance on the dynamic driving task and driver monitoring, the NHTSA said.
Ford Motor did not immediately respond to a request for comment.
BlueCruise was introduced in model year 2021 vehicles and at present is there in a range of Ford and Lincoln vehicles.
Last week, the NHTSA opened a probe into whether Tesla's <a href="https://www.reuters.com/markets/companies/TSLA.O">(TSLA.O), opens new tab</a> recall of more than 2 million vehicles announced in December to install new Autopilot software updates was adequate following a series of crashes.
The NHTSA opened the <a href="https://www.reuters.com/business/autos-transportation/us-probes-tesla-recall-2-million-vehicles-over-autopilot-citing-concerns-2024-04-26/">investigation</a> after receiving reports of 20 crashes involving vehicles that had the new Autopilot software updates.

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"U.S. Regulator Opens Preliminary Probe Into Ford's Hands-Free Driving Tech BlueCruise" - Reuters News

SAI.TECH Signs MOU With Green Agritech For Canada Manitoba Site Project And Intention Of Establishing Joint Venture For Future Cooperation; SAI Responsible For Securing Miners For 1MW Data Center

Coda Octopus Group, Inc. ("CODA" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CODA#NASDAQ">CODA</a>), a global market leader in 3D/4D/5D/6D imaging sonar technology for real time subsea intelligence and cutting-edge diving technology, today reported that following successful field testing with its Navy customers, it has now launched a new Artificial Intelligence (AI)-based digital communication audio system, known as the Voice HUB-4. &nbsp;
Voice HUB-4 is a state-of-the-art system that greatly advances the current limited capability of underwater analogue audio communications by employing digital technology to provide the highest quality and fidelity of speech communication between divers and surface supervisor. Voice HUB-4, which is based on AI technology, has advanced features such as Digital Noise Removal, Background Noise Control and complete control of Helium Speech Descrambling. This system supports up to four (4) in-water divers and also extends to diver-to-diver communications.
Voice HUB-4 is a spin-off from the Company's Diver Augmented Vision Display (DAVD) technology and was developed by the Company in conjunction with its US Navy customers. It has gone through rigorous and extensive performance and validation testing.
Commenting on this, Blair Cunningham, CODA's President of Technology, stated "we are excited to be first movers in digitalizing underwater communications. In general, underwater conditions for divers are hostile and this new technology can improve their safety by providing the capability to deliver crystal clear communications between the topside and divers in the water – leaving no room for miscommunication. Our Navy customers are excited by this capability, and we believe that it will be well received by the diving community as a whole. Voice HUB-4 is also a separate and distinct product from our DAVD system although the customer base remains the same".