California BanCorp (NASDAQ:BCAL) Stock, Quote.Headers.trade-ideas

Southern Calif Bancorp

California BanCorp is a registered bank holding company headquartered in San Diego, California. The Bank offers a range of financial products and services to individuals, professionals, and small to medium-sized businesses through its 14 branch offices and four loan production offices serving Northern and Southern California. The Bank's solutions-driven, relationship-based approach to banking provides accessibility to decision-makers and enhances value through strong partnerships with its clients.

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Adtalem Global Education Inc. Common Stock

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LUCKY MINERALS INC ORD by Lucky Minerals, Inc.

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Stocks That Hit 52-Week Lows On Monday

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FFIE

Faraday Future Announced It Delivered An FF 91 2.0 Futurist Alliance To Born Leaders Entertainment In The Famous Warwick Club In Hollywood On September 20

IPHA

Innate Pharma Announced That The US FDA Has Cleared Its Investigational New Drug (IND) Application To Initiate A Phase 1 Clinical Study Of IPH4502, A Nectin-4 ADC To Be Developed In Solid Tumors

<a href="https://www.globenewswire.com/Tracker?data=4qPy0caPR_MD2ZH_btFsxurCYUBnsieYZfcpBfbj_y1uh1qAF_Gp0uHf71uFje-4L3liTH4Ck9e75tC9zBDn7w==">Acronis</a>, a global leader in <a href="https://www.globenewswire.com/Tracker?data=yw_TI8F-_ILezlPytFRE3x7pwtcOwSbAb6P3fAZp0PW4T5jIm4Ot8CM5-ZdfNLk56KK8R-hR5aK-S4y0FObRi0y6XZHzWrb40BxPboGLWG23k-IeBkRTj1_RQZk935V6">cybersecurity</a> and <a href="https://www.globenewswire.com/Tracker?data=JBSvRUTEWeaLaIra4D2jWRfL7WaeYd4wWiNah8FbgWQp2KHKab73ky42mDD7yYufYQakvDLErLRJTPw_0kmzN16al293OOuimL589aoY-F73hNDvnUXsRNrsJEks9oRM">data protection</a>, is excited to announce its latest Acronis #TeamUp Partner, FC Bayern Munich Basketball. In partnership with TD SYNNEX Germany, a leading global distributor and aggregator of solutions for the IT ecosystem, the German Basketball champion will leverage Acronis' solutions to uplevel its IT infrastructure and capabilities. &nbsp;
"We are proud to join forces with Bayern Munich and TD SYNNEX," said Markus Fritz, General Manager DACH at Acronis. "At Acronis, our focus is on delivering comprehensive cyber protection solutions. With an emphasis on expanding our presence in Germany, partnering with FC Bayern Basketball, a team renowned for its excellence and achievements, aligns perfectly with our goal to #TeamUp with champions and make a positive impact in the region. This collaboration merges top-tier technology and sports excellence, and we look forward to a successful and impactful partnership."
Bayern Munich is a prominent force in German basketball, with six German championships and five German Cup victories to their name. Most recently, the team secured the national championship for the 2023-2024 season. But FC Bayern Basketball's excellence extends beyond domestic success. Three players from Bayern Munich were key members of the German national team that won the World Cup in 2023, showcasing their talent on the global stage. Plus, three Bayern players represented Germany in the Men's Olympic Basketball Tournament in Paris 2024. These achievements highlight the growing popularity of basketball in Germany and affirm the team's influential role in the sport's development within the country and beyond.
"Partnering with Acronis and TD SYNNEX represents a significant milestone for our club," said Marko Pesic, CEO of FC Bayern Basketball. "This collaboration underscores our commitment to innovation and excellence both on and off the court. We are thrilled to work with two industry leaders in technology to bring together new opportunities that will strengthen our organization."
TD SYNNEX is the exclusive Acronis #CyberFit Partner for the DACH region. As the Acronis #CyberFit Partner for FC Bayern Basketball, TD SYNNEX will leverage Acronis solutions to enhance the basketball team's IT infrastructure. This joint venture will offer a range of benefits, including invitations to high-profile club events and membership in the club's Business Circle. From corporate events to behind-the-scenes tours, this collaboration comes with a wide array of perks for all parties involved.
"At TD SYNNEX, we are committed to empowering organizations through robust IT infrastructure," said Maximilian Wieser, Business Unit Manager Data &amp; Applications der TD SYNNEX. "By providing the tools that drive innovation, we aim to enhance Bayern Basketball's technological capabilities with Acronis solutions. This fuels our mission to empower organizations and supporting the growth of basketball in Germany is an added benefit. Together, we bring a strong foundation for future success."
Service providers are invited to join the Acronis #TeamUp Program to deliver Acronis Cyber Protection solutions to world-class and global professional sports teams.

Acronis Teams Up with FC Bayern Basketball and TD SYNNEX to Boost IT Infrastructure

TEVA

Reported Earlier, Teva Pharmaceutical Disclosed That A New Analysis Revealed That Deutetrabenazine Treatment Of Patients With Tardive Dyskinesia (TD) Was Associated With Long Term Improvement Of TD Symptoms

It is with regret that Caledonia Mining Corporation Plc ("Caledonia")&nbsp;(NYSE:<a href="https://www.benzinga.com/stock/CMCL#NYSE">CMCL</a>, AIM: CMCL, VFEX: CMCL)))&nbsp;reports that an accident took place on September 21, 2024 at the Blanket Mine in Zimbabwe, where an employee was hit by a fall of rock while drilling in a development area and as a result has sadly died. &nbsp;
Management at Blanket Mine are assisting the relevant authorities in their enquiry into this accident.
Caledonia expresses its condolences to the family and colleagues of the deceased.

CMCL

Caledonia Mining Reports Fatal Accident at Blanket Mine in Zimbabwe

Topline results from the <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fclinicaltrials.gov%2Fstudy%2FNCT05104866&amp;esheet=54125378&amp;newsitemid=20240921214470&amp;lan=en-US&amp;anchor=TROPION-Breast01&amp;index=1&amp;md5=38bfe55b682fc21bfb63c9c96538d6dd">TROPION-Breast01</a> phase 3 trial of datopotamab deruxtecan (Dato-DXd) compared to investigator's choice of chemotherapy, which previously met the dual primary endpoint of progression-free survival (PFS), did not achieve statistical significance in the final overall survival (OS) analysis in patients with inoperable or metastatic hormone receptor (HR) positive, HER2 low or negative (IHC 0, IHC 1+ or IHC 2+/ISH-) breast cancer previously treated with endocrine-based therapy and at least one systemic therapy.
Datopotamab deruxtecan is a specifically engineered TROP2 directed DXd antibody drug conjugate (ADC) discovered by Daiichi Sankyo (TSE: 4568) and being jointly developed by Daiichi Sankyo and AstraZeneca (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>).
This analysis follows the positive PFS results <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.daiichisankyo.com%2Ffiles%2Fnews%2Fpressrelease%2Fpdf%2F202310%2F20231023_E2.pdf&amp;esheet=54125378&amp;newsitemid=20240921214470&amp;lan=en-US&amp;anchor=presented&amp;index=2&amp;md5=cff8252e7446c8d69a1c27fc9fce80e2">presented</a> at the 2023 European Society for Medical Oncology Congress which showed datopotamab deruxtecan demonstrated a statistically significant and clinically meaningful improvement in PFS. An improvement in patient-reported outcomes was also seen.1 The PFS data and additional results for key secondary endpoints were published this month in the <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fascopubs.org%2Fdoi%2F10.1200%2FJCO.24.00920&amp;esheet=54125378&amp;newsitemid=20240921214470&amp;lan=en-US&amp;anchor=Journal+of+Clinical+Oncology&amp;index=3&amp;md5=e7ed20db0874315d5367f7b02d51353a">Journal of Clinical Oncology</a>.
The safety profile of datopotamab deruxtecan was consistent with that observed in the previous analysis, including lower rates of grade 3 or higher treatment-related adverse events compared to chemotherapy, and no new safety concerns identified. All grade interstitial lung disease (ILD) rates remained low with no new grade 3 or higher ILD events observed.
With ADCs approved during the course of the trial, including ENHERTU&#xAE; (trastuzumab deruxtecan), subsequent treatment following patients' disease progression or treatment discontinuation is likely to have affected survival results.
"Datopotamab deruxtecan has previously shown a statistically significant progression-free survival benefit in TROPION-Breast01, a result supported by multiple meaningful secondary measures including patient-reported outcomes," said Ken Takeshita, MD, Global Head, R&amp;D, Daiichi Sankyo. "We are proud to have brought forth a new standard of care for patients with metastatic breast cancer with ENHERTU and we remain committed to making datopotamab deruxtecan another potential option for patients who can benefit."
"The metastatic HR positive breast cancer treatment landscape has advanced remarkably in the last several years to the benefit of patients," said Susan Galbraith, MBBChir, PhD, Executive Vice President, Oncology R&amp;D, AstraZeneca. "Based on the TROPION-Breast01 results, there is evidence of the clinical value of datopotamab deruxtecan in this setting. We will continue discussions with regulatory authorities and apply insights from these results to our clinical development program for datopotamab deruxtecan in breast cancer."
The data will be presented at an upcoming medical meeting and shared with regulatory authorities currently reviewing applications for this indication.
In addition to TROPION-Breast01, Daiichi Sankyo and AstraZeneca are evaluating datopotamab deruxtecan alone and with immunotherapy as treatment for patients with triple negative or HR low, HER2 negative breast cancers in the <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fclinicaltrials.gov%2Fstudy%2FNCT05374512&amp;esheet=54125378&amp;newsitemid=20240921214470&amp;lan=en-US&amp;anchor=TROPION-Breast02&amp;index=4&amp;md5=01feaaff425affd80759eb06d8c92034">TROPION-Breast02</a>, <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.clinicaltrials.gov%2Fstudy%2FNCT05629585&amp;esheet=54125378&amp;newsitemid=20240921214470&amp;lan=en-US&amp;anchor=TROPION-Breast03&amp;index=5&amp;md5=bb5bdbad13d3fdfbaf1635f870880f2a">TROPION-Breast03</a>, <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fclinicaltrials.gov%2Fstudy%2FNCT06112379&amp;esheet=54125378&amp;newsitemid=20240921214470&amp;lan=en-US&amp;anchor=TROPION-Breast04&amp;index=6&amp;md5=191cffef0ab77f965d8b58af4ebbca39">TROPION-Breast04</a> and <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fclinicaltrials.gov%2Fstudy%2FNCT06103864&amp;esheet=54125378&amp;newsitemid=20240921214470&amp;lan=en-US&amp;anchor=TROPION-Breast05&amp;index=7&amp;md5=0f12d2808ec2428fa29d6d8aabb36d6e">TROPION-Breast05</a> phase 3 trials.

Daiichi Sankyo and AstraZeneca's Datopotamab Deruxtecan Falls Short on Survival in Breast Cancer Trial

This story was originally published on the&nbsp;<a href="http://in.benzinga.com/" target="_blank">Benzinga India portal</a>.
The Competition Commission of India (CCI) has reportedly intensified its antitrust investigation into e-commerce giants&nbsp;Amazon (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>)&nbsp;and&nbsp;Walmart (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wmt#NYSE">WMT</a>)-backed&nbsp;Flipkart, requesting their financial statements.
What Happened: The CCI&#39;s demand for financial records from Amazon Seller Services and Flipkart Internet will play a major role in determining a potential penalty on the firms, based on the companies&#39; defense in a four-year-long case, Mint reported.
A 2023 amendment to the competition law enables the CCI to impose a fine of up to 10% of a company&#39;s global turnover or income of the preceding three financial years for anti-competitive conduct.
The global turnover is anticipated to encompass the revenue generated by the entity in India and overseas, excluding the turnover of any sister enterprise operating in a different market.&nbsp;
After CCI&rsquo;s Director General of Investigation (DG) findings were reported in the media, Amazon and Flipkart raised concerns about the potential public disclosure of sensitive information in non-confidential reports.
Do you want to keep up with all the latest stock market updates in India? Sign up for the&nbsp;<a href="https://share.hsforms.com/1K1H7Kd0aRhmSdDIuxTAkxg1npzh?utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-9Epn7q6aJNp9GSC5EOIhi4bHzDb9Xseqz4PYaEI7sGMhIcV2Rv9ZPxiCYKVKvNojA6WoH5" target="_blank">Benzinga India weekly newsletter</a>.
The DG&#39;s findings, which will serve as the foundation for CCI&rsquo;s judgment on the case, examined complaints of alleged anti-competitive behavior by the two e-commerce giants. The companies will have the chance to defend their case once the confidential version of the report is shared with them.
This comes after the DG&#39;s confirmation in August of suspected violations of competition law by the two internet platforms. Practices under scrutiny include giving preferential treatment and preferential listing to certain sellers on the platform, exclusive product launches and deep discounting, which may have adversely affected small retailers on the platform and beyond.
Read Next:&nbsp;<a href="https://in.benzinga.com/news/24/09/40970969/indian-coldplay-fans-cry-foul-as-tickets-hit-2-lakh-on-reselling-platform">Indian Coldplay Fans Cry Foul As Tickets Hit Sky-High Prices&nbsp;On Reselling Platform</a>
Disclaimer: Artificial intelligence was used as a secondary aid in writing this story.

Global

Tech

AMZN

India's Competition Watchdog Seeks Financial Records From Amazon, Walmart-Backed Flipkart In Ongoing Antitrust Probe: Report

Unifor members at General Motors&#8216; (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) CAMI Assembly and Battery Assembly plants in Ingersoll, Ontario, have ratified a <a href="https://www.benzinga.com/news/24/09/40915192/canadian-union-unifor-reaches-agreement-with-general-motors-for-over-1-300-workers-in-ontario">new collective agreement </a>with the automaker, the Canadian union said on Sunday.
What Happened: The new two-year contract provides a 15% wage increase for production workers and a 20.25% pay hike for skilled trades through the end of its term. 
The union said that Unifor Local 88, representing over 1,300 workers at CAMI Assembly and Battery Assembly, voted 95.7% in favor of ratifying the new agreement. The contract is now set to expire on September 20, 2026.
"CAMI workers have been trailblazers in the EV transition and our bargaining committee was determined to bring home the wage increases, pension improvements and income replacement measures to protect them during this evolution and position them for the future," Unifor CAMI Plant Chairperson Mike Van Boekel said. 
Why It Matters: The CAMI Assembly plant workers build the&nbsp;<a href="https://www.benzinga.com/news/24/08/40646381/gm-to-move-brightdrop-electric-vans-under-the-chevrolet-brand" target="_blank" rel="noreferrer noopener">Chevrolet BrightDrop EV 600 and EV 400</a>&nbsp;while the battery assembly facility workers assemble the company's Ultium battery modules.
The new contract, Unifor said, also provides for improved income security provisions to protect workers during the transition from gas-powered to electric vehicles. 
GM did not immediately respond to Benzinga&#8216;s request for comment. 
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 Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40913617/embraer-controlled-eve-air-mobility-ropes-in-former-rolls-royce-exec-as-chief-commercial-officer" target="_blank" rel="noreferrer noopener">Embraer-Controlled Eve Air Mobility Ropes In Former Rolls-Royce Exec As Chief Commercial Officer</a></li>
</ul>
Image via shutterstock

Unifor Members At GM's CAMI Assembly And Battery Assemble Plants Secure New Contract With Pay Increases

Arthur Hayes, the co-founder of cryptocurrency exchange BitMEX, signaled interest in Australian rapper Iggy Azalea's memecoin Mother Iggy (MOTHER), owing to favorable macroeconomic conditions.
What happened: In an X post late Sunday night, Hayes highlighted how Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) remained stable over the weekend as the Japanese Yen weakened following the Bank of Japan's decision to keep its <a href="https://www.benzinga.com/markets/asia/24/09/40951221/bank-of-japan-leaves-interest-rate-at-0-25-diverging-from-feds-50-basis-point-cut">benchmark interest rates unchanged</a>.
Since the announcement, the yen indeed fell from 142.50 to 144.18 as of this writing, while Bitcoin made steady advances.&nbsp;
<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://twitter.com/IGGYAZALEA?ref_src=twsrc%5Etfw">@IGGYAZALEA</a> can you be my <a href="https://twitter.com/search?q=%24MOTHER&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MOTHER</a>? I was wrong <a href="https://twitter.com/search?q=%24JPY&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$JPY</a> weakening, <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> held up well over the weekend. LFG, and let the good times roll. Time to trade some dogshit meme coins.
&mdash; Arthur Hayes (@CryptoHayes) <a href="https://twitter.com/CryptoHayes/status/1838067229151412572?ref_src=twsrc%5Etfw">September 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Hayes viewed this as an opportunity to trade &#8216;s&#x2A;&#x2A;tcoins&#8217; and made a cheeky reference to the popular rapper&#8217;s memecoin, asking, &#8220;Iggy Azalea, can you be my $MOTHER?
Hayes, one of the keen observers of the cryptocurrency market and the U.S. macroeconomy, holds about $28.63 million in digital assets, <a href="https://platform.arkhamintelligence.com/explorer/entity/arthur-hayes">according </a>to Arkham Intelligence. 
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40950912/bitcoins-reserve-asset-appeal-increased-due-to-state-of-us-federal-deficit-and-debt-says-b">Bitcoin&#8217;s Reserve Asset Appeal Increased Due To State Of US Federal Deficit And Debt, Says BlackRock: A Hedge Against &#8216;Possible Future Events&#8217; Affecting The Dollar</a>
Why It Matters: Since <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39222886/meme-dream-come-true-investor-turns-777k-into-9-4m-in-just-8-days-betting-on-iggy-azaleas-">its launch in June</a>, the Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based memecoin has grown by a whopping 280%, amassing a market cap of more than $73 million.
While concerns about celebrity-promoted cryptocurrencies and their short-lived hype have run rife, Azalea's token has found purpose in real-world applications.
Last week, the Grammy-nominated artist announced plans to launch an online casino called Motherland, which would utilize the MOTHER token.
<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">With love &#8211; you are wrong. Iam not building a simple "casino" online as we understand them to be now and a little research on my page &amp; telegram before typing this would've helped you understand better. I've seen many outlets reporting it in a lazy way framed simply as "a… <a href="https://t.co/4IYnJrsHYg">https://t.co/4IYnJrsHYg</a>
&mdash; IGGY AZALEA (@IGGYAZALEA) <a href="https://twitter.com/IGGYAZALEA/status/1837511000574378449?ref_src=twsrc%5Etfw">September 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Price Action: At the time of writing, MOTHER was exchanging hands at $0.0747, up 3.50% in the last 24 hours, according to data from CoinMarketCap.
Photo by Fernando Cortes on Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40972902/kamala-harris-finally-mentions-crypto-and-that-too-on-wall-street-promises-to-encourage-in">Kamala Harris Finally Mentions Crypto And That Too On Wall Street: Promises To Encourage &#8216;Innovative Technologies&#8217; Like Digital Assets</a></li>
</ul>

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

Cryptocurrency

Entertainment

$BTC

$SOL

Bitcoin Bull Arthur Hayes Planning To Buy Iggy Azalea's MOTHER token?

Ahead of the November election, Vice President Kamala Harris is set to introduce new economic policies aimed at wealth creation this week.
What Happened: The proposals, expected to be announced midweek in Pittsburgh, come as undecided voters seek more clarity on Harris&#8217; economic plans ahead of the November election. The new policies aim to help Americans build wealth and provide economic incentives for businesses, Reuters reported on Monday, citing three sources with knowledge of the matter.
Harris stated that her plan focuses on investing in the aspirations and ambitions of the American people while addressing their economic challenges. The rollout follows internal debates within the Democratic Party about the timing of releasing new economic policies so close to election day.
According to the report, Harris aims to show voters a path to building wealth, emphasizing affordability and economic opportunities. Specific details of the new policies remain undisclosed, and the Harris campaign has not commented on the proposals.
Harris&#8217; previous economic plans have included significant pay hikes for public school teachers, addressing pay gaps, and eliminating bias in home appraisals. Her new proposals are expected to build on these initiatives and align with President Joe Biden&#8216;s policies.
&#8220;It&#8217;s not just about affordability, it&#8217;s also about showing (voters) they have a path to building wealth,&#8221; said a person with direct knowledge of Harris&#8217;s economic plans, according to the report. 
See Also: <a href="https://www.benzinga.com/news/earnings/24/09/40954521/wall-street-looks-to-pause-after-s-ps-record-performance-as-fed-rate-cut-euphoria-fades-and-hard-la?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">S&amp;P 500 Futures Slip As Fed Cut Euphoria Fades: What&#8217;s Going On</a>
Campaign spokesman James Singer mentioned that Harris will continue to present her economic agenda to lower costs, make housing more affordable, and spur economic growth across America, according to the report.
Why It Matters: The announcement of new economic policies by Harris comes at a pivotal moment in her campaign. 
The polls suggest a slight <a href="https://www.benzinga.com/news/24/09/40969584/trump-vs-harris-this-candidate-has-the-edge-in-latest-swing-state-polls">advantage for Harris over Trump</a>. A Morning Consult poll shows Harris leading by 6 percentage points nationwide, her largest lead in the organization's surveys to date.
The race remains tight, with high-profile endorsements playing a crucial role. Harris recently received her second endorsement in 179 years from the <a href="https://www.benzinga.com/general/politics/24/09/40907893/kamala-harris-wins-second-endorsement-in-179-years-from-magazine-that-featured-works-from-nikola" target="_blank" rel="noreferrer noopener">oldest continuously published magazine in the U.S.</a>, which has featured works from luminaries like Nikola Tesla and Albert Einstein.
Additionally, Harris has faced criticism from notable figures like Bill Ackman, who questioned her candidacy and the circumstances surrounding her rise. In response, billionaire Mark Cuban defended Harris, <a href="https://www.benzinga.com/news/24/09/40972809/mark-cuban-issues-a-stinging-retort-to-bill-ackmans-attack-on-kamala-harris-she-is-kicking-your-a">emphasizing her effectiveness and leadership</a>.
Furthermore, former President Donald Trump has stated that he will not pursue another presidential run if he loses to Harris in the upcoming election. This declaration adds another layer of significance to Harris&#8217; economic proposals, as they could <a href="https://www.benzinga.com/news/24/09/40972774/trump-says-no-to-another-run-if-he-loses-2024-election-to-kamala-harris-hopefully-were-going-to-be-s">potentially sway undecided voters</a>.
Read Next: <a href="https://www.benzinga.com/news/24/09/40969744/mark-cuban-embraces-elon-musks-humor-i-have-no-problem-throwing-elon-under-the-bus-but-ill-save-it-f">Mark Cuban Embraces Elon Musk&#8217;s Humor: &#8216;I Have No Problem Throwing Elon Under The Bus, But I&#8217;ll Save It For When It&#8217;s Truly Deserved&#8217;</a>
Image via Wikimedia Commons
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Economics

Kamala Harris Reportedly Set To Unveil New Economic Policies In Pittsburgh This Week: Its About Showing Voters They Have A Path To 'Building Wealth'

Apollo Global Management Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) has reportedly been considering a multibillion-dollar investment in Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>).
What Happened: Apollo has proposed to make an equity-like investment of up to $5 billion in Intel, <a href="https://www.bloomberg.com/news/articles/2024-09-22/apollo-is-said-to-offer-multibillion-dollar-investment-in-intel?srnd=phx-technology">reported</a> Bloomberg, citing people familiar with the matter.
As per the sources, Intel&#8217;s executives are currently evaluating Apollo&#8217;s proposal.&nbsp;
The size of the investment could change and there are also some chances that the discussions could fall through.
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/40949356/mobileye-soars-after-intel-says-it-will-not-sell-majority-stake">Mobileye Soars After Intel Says It Will Not Sell Majority Stake</a>
Apollo and Intel already have a business relationship.
Earlier this year in June, Intel agreed to sell a stake in a joint venture controlling a plant in Ireland to Apollo for $11 billion.
Why It Matters: This development occurred after it was reported that Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) was <a href="https://www.benzinga.com/news/24/09/40968128/qualcomm-reportedly-eyes-potential-takeover-of-intel-amid-60-stock-decline-but-antitrust-concerns-lo">planning to acquire Intel</a>.
If the Qualcomm-Intel deal goes through, it could result in one of the largest M&amp;A deals ever, surpassing Microsoft Corporation's <a href="https://www.benzinga.com/general/gaming/23/10/35240972/microsofts-gaming-powerhouse-grows-activision-blizzard-bought-for-69-billion">$69 billion acquisition</a> of Activision Blizzard.
Intel's <a href="https://www.benzinga.com/news/earnings/24/08/40115276/intel-stock-falls-after-weak-q2-results-new-cost-reduction-plan-15-headcount-reduction">second-quarter earnings</a> reflected an 84.62% decline from the same period last year. The company reported quarterly earnings of 2 cents per share, which fell significantly short of the analyst consensus estimate of 10 cents.
In August it was reported that a prominent board member at Intel, Lip-Bu Tan resigned from his position following a dispute with CEO Pat Gelsinger and other directors.
This raised concerns about the company's direction.
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QCOM

Intel Has A New Knight In Shining Armor? After Qualcomm, Apollo Global Management Reportedly Proposes Multibillion-Dollar Investment

Anthony Scaramucci, CEO of investment firm&nbsp;SkyBridge Capital and a vocal cryptocurrency advocate, predicted a significant role for Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) in the impending layer-1 blockchain revolution, while also revealing his substantial exposure to the fifth-largest cryptocurrency.
What Happened: During the recent Breakpoint 2024 conference, Scaramucci highlighted the potential of tokenization to revolutionize the current financial system. He pointed out that approximately $7 trillion is spent annually on transaction verification, a cost that could be significantly reduced through tokenization.
He stressed on the need for eliminating third parties and utilizing blockchain&#8217;s trustless technology to verify transactions.
&#8220;This system is actually a flawless and a near perfect system, and hopefully the tokenization will happen on Solana,&#8221; Scaramucci stated. The former White House Communications Director added that he owns &#8220;a lot of&#8221; Solana.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">$7 TRILLION a year is spent on transaction verification &#8211; tokenization solves that. The future is tokenized and <a href="https://twitter.com/solana?ref_src=twsrc%5Etfw">@Solana</a> will be a major player in the layer-1 blockchain financial revolution. Enjoyed my not-so-heated debate with <a href="https://twitter.com/FTI_DA?ref_src=twsrc%5Etfw">@FTI_DA</a>&#39;s Christopher Jensen at Breakpoint 2024. <a href="https://t.co/E8EH2aQEbB">pic.twitter.com/E8EH2aQEbB</a>
&mdash; Anthony Scaramucci (@Scaramucci) <a href="https://twitter.com/Scaramucci/status/1837536131350499633?ref_src=twsrc%5Etfw">September 21, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40971599/well-its-crypto-its-ai-its-some-of-the-other-things-says-donald-trump-unsure-of-what-his-n?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Well, It&#8217;s Crypto, It&#8217;s AI, It&#8217;s Some Of The Other Things,&#8217; Says Donald Trump, Unsure Of What His New Crypto Project Even Is</a>
Why It Matters: Solana is often dubbed as an &#8220;Ethereum Killer&#8221; and its proponents favorably compare the network with Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) on parameters such as transaction speed and cost.
Tokenization of real-world assets was emerging as a hot new narrative in the Web3 realm, with the industry having $5.72 billion in total locked as of this writing, <a href="https://defillama.com/protocols/RWA" target="_blank" rel="noreferrer noopener">according </a>to DeFiLlama.
In layman&#8217;s terms, tokenization can be defined as the process of bringing off-chain assets like bonds, real estate, commodities, and much more on blockchain rails,&nbsp; opening up new avenues of growth for both traditional and decentralized finance.
Price Action: At the time of writing, SOL was exchanging hands at $148.87, up 0.21% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Photo by World Economic Forum on Flickr
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Disclaimer:&nbsp;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.

$ETH

Anthony Scaramucci Discloses Holding 'A Lot Of' Solana, Backs The 'Ethereum Killer' Network To Lead Tokenization Revolution

A two-and-a-half-year-old Siamese cat named Rayne Beau was reunited with his owners, Susanne and Benny Anguiano, after disappearing in Yellowstone National Park. The cat lost in the national park traveled over 900 miles to return home after two months.
What Happened: The Anguianos, from Salinas, California, were visiting the park in Wyoming when Rayne Beau wandered off on Jun. 4. Despite daily searches by Benny, the cat could not be found, and the couple had to leave without him.
Two months later, the couple received a notification that Beau had been found in Roseville, California, approximately 190 miles from their home. The cat was identified through his microchip and taken to the Placer Society for the Prevention of Cruelty to Animals.
Leilani Fratis, CEO of the Placer SPCA, confirmed the cat&#8217;s identity and emphasized the importance of microchipping pets. Rayne Beau was initially in poor health but is now back home with his grateful owners.
Susanne Anguiano expressed her joy, saying, &#8220;We are ecstatic to have him back. I look at him every day and am so grateful.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/09/40950674/data-scientist-who-called-2020-election-correctly-says-its-gone-from-drastic-landslide-in-trumps-dir?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Data Scientist Who Called 2020 Election Correctly Says Its Gone From &#8216;Drastic Landslide In Trump&#8217;s Direction To A Drastic Landslide For Harris&#8217;</a>
Why It Matters: The reunion of Rayne Beau with his owners highlights the significance of microchipping pets, a point emphasized by Leilani Fratis of the Placer SPCA. 
This incident also brings to light the diverse range of events occurring in Yellowstone National Park. For instance, in June 2022, a tourist was gored by a bison after getting too <a href="https://www.benzinga.com/news/22/06/27506856/a-woman-got-too-close-to-a-bison-at-yellowstone-what-do-you-think-happened-to-her">close to the animal</a>, underscoring the need for visitors to adhere to park regulations.
Additionally, the story of Rayne Beau&#8217;s journey comes at a time when <a href="https://www.benzinga.com/news/24/09/40937559/jd-vances-unverified-rumors-about-haitian-immigrants-stir-gop-discomfort-distracting-from-real-issue">pet-related news is gaining attention</a> in the political arena. Recently, Sen. JD Vance (R-Ohio) and former President Donald Trump have made unverified claims about immigrants abducting and eating pets, which have been widely debunked. 
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Siamese Cat That Wandered Off In Yellowstone, Miraculously Travels Over 900 Miles To Be Reunited With Owners After Two Months

Apple design legend&nbsp;Sir Jony Ive has confirmed his collaboration with&nbsp;OpenAI&nbsp;CEO&nbsp;Sam Altman, on a new <a href="https://www.benzinga.com/news/23/09/34966565/iphone-of-ai-openais-sam-altman-apple-design-legend-jony-ive-and-softbanks-masayoshi-son-explore-a-n">AI hardware project</a>.
What Happened: Ive confirmed his involvement in the project during a profile <a href="https://www.nytimes.com/2024/09/21/technology/jony-ive-apple-lovefrom.html">interview</a> with The New York Times that was published on Saturday, <a href="https://www.theverge.com/2024/9/21/24250867/jony-ive-confirms-collaboration-openai-hardware">reported</a> The Verge.
The project, which was first rumored nearly a year ago, is still shrouded in mystery with few details available. As per the report, Ive met Altman through Airbnb CEO Brian Chesky.
Funding for the venture is being provided&nbsp;by Ive and the Emerson&nbsp;Collective, a company owned by Laurene Powell Jobs. The project is expected to&nbsp;<a href="https://www.benzinga.com/news/24/04/38130224/sam-altman-and-former-apple-design-maestro-seek-funding-from-laurene-powell-jobs-masayoshi-son-for-t">raise $1 billion in funding&nbsp;by year-end</a>.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40970948/elon-musk-and-nvidia-ceo-share-vision-of-ai-powered-personal-assistants-linkedin-under-scrutiny-and?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk And Nvidia CEO Share Vision Of AI-Powered Personal Assistants, LinkedIn Under Scrutiny And More: This Week In AI</a>
The team, currently consisting of 10 employees, <a href="https://www.benzinga.com/news/23/12/36393129/apple-iphone-design-executive-joins-forces-with-jony-ive-and-sam-altman-for-groundbreaking-ai-projec">includes key figures</a> like Tang Tan and Evans Hankey who previously&nbsp;worked with Ive on the&nbsp;iPhone.
The project is being led by LoveFrom, Ive&#8217;s company, and is based in&nbsp;a 32,000-square-foot office building in&nbsp;San Francisco.
According to The Times, the device will leverage generative AI to handle complex requests, offering more to users than traditional software. However, specifics about the AI product and its market launch are still being determined.
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: Previously, it was reported that Altman and Ive intend to develop a more intuitive and seamless way for users to engage with AI. Their goal is to create a transformative experience akin to the impact the original iPhone had on the smartphone industry.
When Apple introduced the first iPhone in 2007, it revolutionized the market, which had been dominated by bulky phones with physical keyboards, by offering a touchscreen-only interface.
In a similar vein, current AI interactions still require manual input, whether through text prompts or voice commands.
Photo courtesy: Wikimedia
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>.
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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.

Apple's Former Design Maestro Jony Ive Confirms He's Joined Forces With OpenAI's Sam Altman For A New AI Hardware Project

Popular dog-themed memecoin Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) recorded a significant jump in its burn rate in the last 24 hours, although the community remained unimpressed.
What happened: About 15.08 million SHIB tokens were kicked out of circulation, according to the official burn tracker, <a href="https://www.shibburn.com/">Shibburn</a>, marking a surge of 772% over the last 24 hours.
As is well known, coin burning is the process of purposely sending a cryptocurrency token to an unusable wallet address to remove it from circulation. This is done to generate scarcity and increase the market value of the token.
As of this writing, nearly 410.728 trillion SHIB tokens have gone up in smoke.
Despite the substantial increase in burn rate, many members of the Shiba Inu community were dissatisfied and vented their frustrations to none other than the ecosystem&#8217;s pseudonymous leader, Shytoshi Kusama.
While responding to an altogether different X post by Kusama, a user urged them to accelerate the burn rate.&nbsp;To this, Kusama replied, "Requires funds to do so. Every time you see a partnership, we get closer."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Requires funds to do so. Every time you see a partnership, we get closer.
&mdash; Shytoshi Kusama&#x2122; (@ShytoshiKusama) <a href="https://twitter.com/ShytoshiKusama/status/1837820942002577920?ref_src=twsrc%5Etfw">September 22, 2024</a></blockquote>
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However, the user was still not convinced and went on to say, &#8220;What about that auto-burn mechanism ?! We wait till 4 years. It&#8217;s in YOUR hands ! Dont fool us boss.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40950912/bitcoins-reserve-asset-appeal-increased-due-to-state-of-us-federal-deficit-and-debt-says-b">Bitcoin&#8217;s Reserve Asset Appeal Increased Due To State Of US Federal Deficit And Debt, Says BlackRock: A Hedge Against &#8216;Possible Future Events&#8217; Affecting The Dollar</a>
Why It Matters: The debate around burn rates came even as the highly anticipated liquid staking platform, K9 Finance, <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40913080/shiba-inu-team-says-launching-k9-finance-liquid-staking-on-shibarium-tomorrow-are-shib-bur">went live</a> on Shiba Inu's Layer-2 network, Shibarium.&nbsp;
The launch was expected to boost transaction volume on the network, in turn accelerating SHIB token burns.&nbsp;
Since its launch in August last year, the Shibarium blockchain has facilitated over 418 million transactions, according to <a href="https://www.shibariumscan.io/stats">on-chain</a> data.
Price Action: At the time of writing, SHIB was exchanging hands at $0.00001479, up 0.22% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
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$SHIB

'Dogecoin Killer' Shiba Inu's Burn Rate Shoots Up 772%, Shytoshi Kusama On Picking Up The Pace: 'Requires Funds To Do So'

Chinese electric vehicle manufacturer BYD (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rival plans to establish its <a href="https://www.benzinga.com/markets/equities/24/09/40946478/chinas-nio-says-40-of-its-store-managers-are-ex-tesla">first South Asian assembly plant in Pakistan</a>. The move follows a rejection from India.
What Happened: The plant, expected to be operational by 2026, is a collaboration with Pakistan&#8217;s largest private electricity producer, Hub Power (Hubco). Hubco&#8217;s subsidiary, Mega Motor, will partner with BYD to set up the facility near Karachi's Port Qasim, <a href="https://www.ft.com/content/bf1e6817-5313-4b6e-8e47-9e2960d30ecc">reported</a> Financial Times on Sunday. 
Hubco CEO Kamran Kamal said that the goal is for Pakistan to begin exporting vehicles from the plant. The government is encouraging BYD to target markets in Africa and South Asia, including Bangladesh and Sri Lanka.
"We have big ambitions to be the leading carmaker in this country by the end of the decade," Kamal said. "For any industry in Pakistan to be competitive, they should be focused on the export market."
BYD&#8217;s expansion into Pakistan comes amid broader international growth, with new factories planned in Turkey, Hungary, Thailand, and Brazil. The company is also considering a new factory in Mexico.
BYD declined to comment further on the specifics of the Pakistan project, which is still under discussion. The company aims to sell 100,000 plug-in hybrid and fully electric cars annually in Pakistan by 2030, according to the report.
See Also: <a href="https://www.benzinga.com/news/24/09/40899599/elon-musk-said-spacex-competitors-only-take-up-less-than-we-do-and-they-take-nothing-down-and-they-g?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Said SpaceX Competitors Only &#8216;Take Up Less Than We Do, And They Take Nothing Down, And They Get Paid Twice As Much&#8217; — 10 Years Later, Its Rival In Space Boeing Has Frozen Hiring And Is Weighing Furloughs</a>
Why It Matters: The decision by BYD to establish a plant in Pakistan follows a series of global strategic moves by Chinese automakers to counteract increasing trade barriers and tariffs. 
Recently, the President Joe Biden administration imposed <a href="https://www.benzinga.com/markets/asia/24/09/40886450/50-of-new-car-sales-in-china-are-electric-but-in-the-us-its-only-10-are-protectionist-policies-widen">a 100% tax on electric vehicles made in China</a>, affecting companies like BYD and Geely. This move is part of a broader effort to relocate manufacturing and boost U.S. jobs.
China has also advised its automakers to keep advanced EV technology within the country, even as they expand globally. This includes exporting knock-down kits for assembly abroad, and ensuring <a href="https://www.benzinga.com/news/24/09/40825946/china-wants-automakers-to-safeguard-their-ev-technology-and-keep-it-within-the-country-as-companies">key parts remain produced in China</a>.
BYD&#8217;s expansion is not just limited to Pakistan. The company has been making significant strides in Europe, showcasing their vehicles at trade fairs like the Automechanika in Frankfurt, <a href="https://www.benzinga.com/markets/equities/24/09/40818732/chinese-ev-manufacturers-byd-and-geely-storm-frankfurt-fair-as-eu-tariffs-threaten-to-crimp-thei">despite looming EU tariffs</a>.
Furthermore, the competitive <a href="https://www.benzinga.com/markets/equities/24/09/40946478/chinas-nio-says-40-of-its-store-managers-are-ex-tesla">landscape in China is intensifying</a>. Companies like NIO are also expanding aggressively, with a significant portion of their management coming from Tesla.
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Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

BYDDF

BYDDY

TSLA

Tesla's Chinese Rival BYD Plans To Assemble EVs In Pakistan After India Said No: 'We Have Big Ambitions'

NBA legend Shaquille O&#8217;Neal has been falsely accused of ejecting Governor Tim Walz&nbsp;(D-Minn), the running mate of Democratic presidential nominee Kamala Harris, from his restaurant.
What Happened: Earlier this month, a Facebook post from an account named &#8220;WNBA News Daily,&#8221; falsely shared a post stating that Shaq, had thrown out Walz from his restaurant in Georgia.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/22224204/Screenshot-2024-09-23-at-8.11.49%E2%80%AFAM-878x1024.png" alt="" class="wp-image-560144" /></figure>
This false story was shared by many other people on social media platforms too including one by Vernon Jones, a former state representative from Georgia.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/22224217/Screenshot-2024-09-23-at-8.10.36%E2%80%AFAM-1024x678.png" alt="" class="wp-image-560145" /></figure>
However, lo and behold, this entire incident was written by a satirical website.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40968413/elon-musk-reacts-after-cathie-wood-labels-gavin-newsoms-threat-to-sue-tesla-ceo-over-memes-unconstit?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts After Cathie Wood Labels Gavin Newsom&#8217;s Threat To Sue Tesla CEO Over Memes &#8216;Unconstitutional&#8217;: &#8216;…But That Didn&#8217;t Stop Them&#8217;</a>
The original article was published on &#8220;Esspots,&#8221; a self-proclaimed &#8220;one-stop&nbsp;destination for satirical news and&nbsp;commentary about the United States&nbsp;of America.&#8221;
&#8220;Our team of writers and editors is dedicated to bringing you the latest and greatest in fake news and absurdity, all with a healthy dose of humor and satire,&#8221; the website states in the &#8220;About Us&#8221; section.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/22224639/Screenshot-2024-09-23-at-8.16.27%E2%80%AFAM-1024x653.png" alt="" class="wp-image-560150" /></figure>
Shaq&#8217;s restaurant chain, Big Chicken, does not have a location in Georgia, according to Big Chicken&#8217;s official website.
This fact check was first <a href="https://factcheck.afp.com/about-afp">done</a> by AFP Fact Check, a department within&nbsp;Agence France-Presse, which also noted that campaign schedules for the candidates did not mention any planned visit by Walz&nbsp;to a Big Chicken outlet.
Why It Matters: Walz has been a target&nbsp;of misinformation since joining the&nbsp;Democratic ticket. This incident serves as another example of misleading claims circulating on social media.
Earlier, a false claim that Harris was involved in a 2011 hit-and-run accident in San Francisco, which allegedly paralyzed a 13-year-old girl, circulated widely on social media platforms.
This incident also comes amid a <a href="https://www.benzinga.com/general/entertainment/24/09/40807445/taylor-swift-says-i-will-be-casting-my-vote-for-kamala-harris-and-tim-walz-takes-a-dig-at-j">politically charged climate</a>, with celebrities like&nbsp;Taylor Swift&nbsp;publicly endorsing Vice President Kamala Harris and Walz for the 2024 presidential race.
Meanwhile, Shaq has previously revealed that he voted for the first time at the age of 48 in 2020. The retired NBA star supported President Joe Biden in the presidential election that year, <a href="https://thehill.com/homenews/campaign/560538-shaq-endorses-candidate-in-race-for-demings-house-seat/">according</a> to The Hill.
Image via Flickr/ Cubahora
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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.

Social Media

Politics

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Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) and Samsung Electronics Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) are discussing the construction of massive chip-making complexes in the United Arab Emirates. These projects could be valued at over $100 billion.
What Happened: Executives from TSMC have recently visited the UAE to explore the possibility of establishing a plant complex comparable to their largest facilities in Taiwan. Similarly, senior leaders from Samsung have also visited the UAE to discuss potential chip-making operations in the region, The Wall Street Journal <a href="https://www.wsj.com/tech/ai/chip-giants-tsmc-and-samsung-discuss-building-middle-eastern-megafactories-65adc854?mod=hp_lead_pos3">reported</a> citing, people familiar with the interactions.
These discussions are in the preliminary stages and face significant technical and logistical challenges. The UAE would fund these projects, with Abu Dhabi-based sovereign development vehicle Mubadala playing a central role. Mubadala is eager to develop a domestic tech industry and increase global chip production.
The UAE&#8217;s ambitions reflect a broader global push to expand chip production to meet the demands of the AI boom. However, substantial technical and political hurdles remain, including the need for super-clean water and the availability of engineering talent.
Both TSMC and Samsung have had discussions with U.S. government officials regarding concerns about shipments of advanced AI chips to China, a trading partner of the UAE. These concerns need to be resolved before construction can begin, according to the report.
&#8220;We are always open to constructive discussion on ways to promote development of the semiconductor industry, but we remain focused on our current global expansion projects and&nbsp;have no new investment plans to disclose at this time,&#8221; a TSMC spokesperson told Benzinga in an email inquiry. 
Samsung did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40946963/bitcoin-worth-63-000-pulled-in-33-pack-of-trading-cards-at-gamestop-mind-boggling-story-go?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Worth $63,000 Pulled In $33 Pack Of Trading Cards At GameStop: ‘Mind-Boggling' Story Goes Viral, Highlights Crypto Redemption Card</a>
Why It Matters: The discussions between TSMC and Samsung come at a time when the Middle East is becoming increasingly significant in the global semiconductor landscape. 
Microsoft Corp. recently called for <a href="https://www.benzinga.com/news/24/09/40912608/microsoft-wants-clarity-on-chip-exports-to-middle-east-amid-1-4b-deal-with-uae-firm">more transparency on U.S. export controls</a> that have delayed the delivery of AI chips to the region. The company had invested $1.5 billion in G42, the largest AI company in the UAE, to use it as a gateway to markets in Africa and Asia.
Additionally, NVIDIA Corp has begun supplying its <a href="https://www.benzinga.com/news/24/09/40912608/microsoft-wants-clarity-on-chip-exports-to-middle-east-amid-1-4b-deal-with-uae-firm">advanced chips to Saudi Arabia</a>, positively influencing market sentiment in the Middle East and Asia. This move came after the U.S. reassessed its advanced semiconductor sanctions on Saudi Arabia, initially imposed in 2023 due to national security concerns.
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Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

MSFT

NVDA

SSNLF

TSMC And Samsung Explore $100B Chip Megafactories In UAE Amid AI Boom And Global Expansion Plans: Report

Leading coins were among the gains Sunday overnight after Democratic presidential nominee Kamala Harris mentioned cryptocurrencies for the first time during her election campaign.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:45 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+1.13%</td>
<td>$63,890.89</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+0.04%</td>
<td>$2,611.43</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-1.64%</td>
<td>$0.1077</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin broke out of its sideways movement and nearly touched $64,000 as news of <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40972902/kamala-harris-finally-mentions-crypto-and-that-too-on-wall-street-promises-to-encourage-in">Harris' endorsement</a> started tricking in. The leading cryptocurrency experienced volatile price swings over the past few hours.
Ethereum too breached past $2,600, witnessing a substantial spike in trading volumes.
In the past 24 hours, 53,409 traders were liquidated, with the total liquidations at $131.21 million. Upside bets accounted for $86 million of the total liquidations.
Bitcoin's Open Interest rose marginally by 0.88% in the last 24 hours to $34.94 billion. The number of traders placing bearish bets on the coin surpassed those going long, as per Long/Short Ratio.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:45 p.m. EDT)</td>
</tr>
<tr>
<td>Helium (HNT)</td>
<td>+13.11%</td>
<td>$7.82</td>
</tr>
<tr>
<td>Sui (SUI)</td>
<td>+6.85%</td>
<td>$1.57</td>
</tr>
<tr>
<td>Bittensor (TAO)</td>
<td>+5.82%</td>
<td>$493.14</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market stood at $2.23 trillion, following an increase of 0,54% in the last 24 hours.
Stock futures rose slightly overnight on Sunday. The Dow Jones Industrial Average Futures lifted 63 points, or 0.15%, as of 9:45 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 were up 0.27%, while Nasdaq 100 Futures gained 0.53%.
The uptick followed a record-breaking week that saw blue-chip indexes like the Dow and the S&amp;P 500 clocking new all-time highs <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead">after the Federal Reserve dropped interest rates</a> for the first time in more than four years.
Investors would keep an eye out for the manufacturing and service sector data due on Monday to further assess the soft landing scenario.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Widely-followed cryptocurrency analyst Kingpin Crypto indicated a probable retreat to the $60,000 range if $64,000 holds as resistance.&nbsp;&nbsp;
"If price starts closing above supply, then it&#8217;s game over for the bears as I see no resistance above until 70,000," the analyst remarked.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> &#8211; As long as price respects $64k resistance I still expect a brief rejection towards the red box. If price starts closing above supply, then it&#39;s game over for the bears as I see no resistance above until 70k. TL;DR. long either at redbox or above $64k, no shorts. <a href="https://t.co/zyBnU8UgZn">https://t.co/zyBnU8UgZn</a> <a href="https://t.co/VVED1JLwkA">pic.twitter.com/VVED1JLwkA</a>
&mdash; Kingpin Crypto (@Kingpincrypto12) <a href="https://twitter.com/Kingpincrypto12/status/1838037450007986376?ref_src=twsrc%5Etfw">September 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Prominent analyst Ali Martinez predicted an &#8220;altcoin season,&#8221; with the overall market capitalization reaching $1 trillion sooner rather than later.
<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">The <a href="https://twitter.com/hashtag/altcoin?src=hash&amp;ref_src=twsrc%5Etfw">#altcoin</a> market cap looks primed to surpass $1 trillion&#8230; It is just a matter of time before <a href="https://twitter.com/hashtag/altcoinseason?src=hash&amp;ref_src=twsrc%5Etfw">#altcoinseason</a>! <a href="https://t.co/NRRa6v3ZOk">pic.twitter.com/NRRa6v3ZOk</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1837927091267834099?ref_src=twsrc%5Etfw">September 22, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
He also noted the diminishing Bitcoin dominance that would pave the way for an altcoin rally.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> dominance seems to be topping out, hinting at a possible dip to 47% — setting the stage for an <a href="https://twitter.com/hashtag/altcoinseason?src=hash&amp;ref_src=twsrc%5Etfw">#altcoinseason</a>! <a href="https://t.co/qkz4IziP8r">pic.twitter.com/qkz4IziP8r</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1837986986331947251?ref_src=twsrc%5Etfw">September 22, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by Avi Rozen on Shutterstock
Read Next:    
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$DOGE

Bitcoin, Ethereum Rise, Dogecoin Slips As Market Reacts To Harris' Crypto Mention: Analyst Believes It'll Be 'Game Over' For Bears If King Crypto Breaches $64K

Editor's Note: The headline of this story has been updated for factual accuracy.
Sen. Lindsey Graham (R-S.C.) has called for a new approach to Middle East policy, advocating for either a &#8220;game changing peace&#8221; or a &#8220;game changing military strategy.&#8221;
What Happened: On Thursday, Graham expressed his views on Middle East policy via X. He suggested that a significant shift in strategy is needed, either through Saudi Arabia recognizing Israel, or Israel taking military action against Iran.
<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">In the Middle East, we need game changing peace or game changing military strategy. Game changing peace begins with Saudi Arabia recognizing the state of Israel. Game changing military strategy begins with Israel targeting Iran, the source of chaos in the region. <a href="https://t.co/qFD9ZxQY1t">pic.twitter.com/qFD9ZxQY1t</a>
&mdash; Lindsey Graham (@LindseyGrahamSC) <a href="https://twitter.com/LindseyGrahamSC/status/1837981953150345568?ref_src=twsrc%5Etfw">September 22, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Graham&#8217;s tweet comes in the wake of a series of deadly escalation between Israel and Hezbollah. Israel and Hezbollah exchanged heavy fire, with Hezbollah launching over 100 rockets into northern Israel in response to Israeli strikes on Lebanon, <a href="https://apnews.com/article/israel-lebanon-hezbollah-news-09-22-2024-fb1aa8ae061885ba86855f7fe9ec5be7">reported</a> AP on Sunday.
The conflict escalated after an Israeli airstrike in Beirut killed several people, including a senior Hezbollah commander. Hezbollah declared an "open-ended battle," while Israel launched hundreds of strikes, targeting militant sites. Both sides suffered casualties, and the situation raised concerns about the potential for a broader conflict.
See Also: <a href="https://www.benzinga.com/news/24/09/40969584/trump-vs-harris-this-candidate-has-the-edge-in-latest-swing-state-polls?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs Harris: This Candidate Has The Edge In Latest Swing State Polls</a>
Why It Matters: The recent <a href="https://www.benzinga.com/news/24/09/40924166/hezbollah-hit-in-new-round-of-explosions-across-lebanon-casualties-climb">wave of explosions</a> in Lebanon have escalated tensions in the region. The attacks, believed to be targeted at Hezbollah, an Iran-backed group, have resulted in significant casualties and damage.
Lebanon recently grappled with a <a href="https://www.benzinga.com/news/24/09/40924166/hezbollah-hit-in-new-round-of-explosions-across-lebanon-casualties-climb">second wave of deadly explosions</a> targeting Hezbollah, as wireless devices like walkie-talkies detonated across the country, killing at least nine and injuring over 300. The attacks, which Hezbollah blamed on Israel, followed an earlier wave of pager explosions that killed 12 and injured nearly 2,800.
Graham&#8217;s tweet and the recent events in Lebanon highlight the urgent need for a resolution to the ongoing conflict in the Middle East. Whether this will involve diplomatic recognition or military action remains to be seen.
Photo via Shutterstock
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Lindsey Graham Says Either Saudi Arabia Recogonizes Israel Or Tehran Gets Targeted: 'We Need Game Changing Peace Or Game Changing Military Strategy' (UPDATED)

D.A. Davidson analyst Gary Tenner maintained a Buy rating on Southern California Bancorp (BCAL – Research Report) today and set a price target of $...

D.A. Davidson Reaffirms Their Buy Rating on Southern California Bancorp (BCAL)

Bank of Southern California GAAP EPS of $0.26, revenue of $21.9M

In a report released today, Gary Tenner from D.A. Davidson maintained a Buy rating on Southern California Bancorp (BCAL – Research Report), with a ...

D.A. Davidson Sticks to Its Buy Rating for Southern California Bancorp (BCAL)

Russell 3000 reshuffle: MITT, ROOT among added, EHTH, BKKT among deleted

KRNY, DOMA among notable financial additions to Russell Microcap; MBIN, AINC out

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Southern Calif Bancorp (NASDAQ:<a href="https://investorplace.com/stock-quotes/bcal-stock-quote/">BCAL</a>) just reported results for the first quarter of 2024.<ul><li>Southern Calif Bancorp reported earnings per share of 26 cents. This was below the analyst estimate for EPS of 27 cents.</li><li>The company reported revenue of $21.91 million.</li><li>This was 0.42% worse than the analyst estimate for revenue of $22.00 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/earning-results/2024/06/bcal-stock-earnings-southern-calif-bancorp-for-q1-of-2024/">BCAL Stock Earnings: Southern Calif Bancorp Misses EPS, Misses Revenue for Q1 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

BCAL Stock Earnings: Southern Calif Bancorp Misses EPS, Misses Revenue for Q1 2024

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
One of many stock market indexes used to measure performance, the Russell 2000 is composed of 2,000 small-cap companies that make up the bottom two-thirds of the Russell 3000 index. The reason is that the top 1,000 stocks in the Russell 3000 make up 93% of the index&rsquo;s market cap, so focusing on the lower 2,000 allows analysts and investors to judge the movement of the small-cap market more accurately.



It is an excellent way to gauge the performance of smaller economic sectors while also finding stocks to buy and sell. Moreover, the industry breakdown of the Russell 2000 has healthcare and technology at a combined 29% of the index, which means it is subject to the general volatility of those industries. That said, due to their small-cap nature, knowing which Russell 2000 stocks to sell is imperative to maximizing profits from a position before it fizzles out.



<h2>AADI Bioscience (AADI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/06/biotechnologyepzm1600-300x169.png" alt="OLK Stock. Modern Medical Research Laboratory: Two Scientists Wearing Face Masks use Microscope, Analyse Sample in Petri Dish, Talk. Advanced Scientific Lab for Medicine, Biotechnology. Blue Color. KZR stock. RSLS stock. Best Biotech Stocks to Buy"><div>Source: Gorodenkoff / Shutterstock.com</div></div>Tackling an incredibly complex and serious group of genetic disorders, AADI Biosciences (NASDAQ:<a href="https://investorplace.com/stock-quotes/aadi-stock-quote/">AADI</a>) has something of an uphill battle ahead of it. The company&rsquo;s drug pipeline focuses on treating cancers that occur due to malfunctions in what is called the <a href="https://www.cellsignal.com/pathways/mtor-signaling-pathway">mTOR signaling pathway.</a> That&rsquo;s significant because the mTOR pathway serves as a regulator in metabolic and physiological processes like building muscle or repairing damaged cells.



However, when overactive it can lead to cancer, diabetes and even depression &mdash; depending on additional factors. Thus, many of AADI&rsquo;s current drugs and drug pipelines focus on inhibiting this pathway to treat the aforementioned diseases. Unfortunately, despite one successful drug reaching the market and another <a href="https://www.aadibio.com/pipeline-clinical-studies/">entering regulatory trials</a> by year&rsquo;s end, the company has struggled to garner investor interest and has lost 31% of its value year-to-date.



As such, investors may want to sell now before another quarter of losses posted by its earnings report and wait to buy back in at a lower price depending on the progress of its next regulatory trials.



<h2>Applied Optoelectronics (AAOI)</h2>



<div><img width="300" height="165" src="https://investorplace.com/wp-content/uploads/2017/03/aaoimsn-300x165.jpg" alt="cables"><div>Source: Shutterstock</div></div>With the gold rush of artificial intelligence data centers and computer processing networks, one would think that a company specializing in selling access networking technology would prosper. Yet, that hasn&rsquo;t been the story so far for Applied Optoelectronics (NASDAQ:<a href="https://investorplace.com/stock-quotes/aaoi-stock-quote/">AAOI</a>) in 2024. Despite the company&rsquo;s varied product applications for the telecom and data center industry, it has lost 56% of its value year-to-date.



Moreover, the company is now trading at a third of its 52-week price high and is still reeling from its disappointing <a href="https://investors.ao-inc.com/news-releases/news-release-details/applied-optoelectronics-reports-first-quarter-2024-results">first-quarter earnings report.</a> With revenue down by 23% year-over-year (YOY), the company&rsquo;s net losses amounted to $23 million in Q1 2024. While some of this can be chalked up to research and development, major increases in sales and marketing costs paired with a significant dip in its <a href="https://www.dictionary.com/browse/catv#:~:text=community%20antenna%20television%3A%20a%20cable,either%20poor%20or%20not%20possible.">community antenna television</a> sales hurt the company&rsquo;s long-term momentum.



Having only been in the Russell 2000 since June 11, 2024, the company has a ways to go but is still one of the index&rsquo;s worst performers for the year.



<h2>Southern California Bancorp (BCAL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/07/californiastocks1600-300x169.jpg" alt="a picture of Los Angeles, California"><div>Source: Shutterstock</div></div>A regional banking company that has struggled to retain income over the years, Southern California Bancorp (NASDAQ:<a href="https://investorplace.com/stock-quotes/bcal-stock-quote/">BCAL</a>) has performed quite poorly year-to-date. For the <a href="https://stockanalysis.com/stocks/bcal/revenue/">first quarter of 2024,</a> the company&rsquo;s revenue sank 15.32% YOY. This put it at only $22.24 million for the quarter, lower than three out of the four prior quarters. 



Even more concerning, the bank&rsquo;s net income dropped <a href="https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&amp;ref=318302280&amp;type=HTML&amp;symbol=BCAL&amp;cdn=b443e9cded5d040aa9d4afe7533243ad&amp;companyName=Southern+Calif+Bancorp&amp;formType=10-Q&amp;formDescription=General+form+for+quarterly+reports+under+Section+13+or+15%28d%29&amp;dateFiled=2024-05-08">40% YOY,</a> bringing it to $4.94 million. When investing in <a href="https://investorplace.com/industries/financial/bank/">bank stocks,</a> the bank&rsquo;s cash flow and liquidity are key to its prospects of generating returns and further investor interest. Without these catalyzing factors, BCAL stock will likely continue to wither as it lacks the capital needed to make substantial investing decisions.



Thus, with this downtrend &mdash; likely due to the economic and quality of life struggles in Southern California &mdash; BCAL stock is among the most important Russell 2000 stocks to sell.



On the date of publication, Viktor Zarev&nbsp;did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines.</a>



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<div>Viktor Zarev is a scientist, researcher, and writer specializing in explaining the complex world of technology stocks through dedication to accuracy and understanding.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/07/3-russell-2000-stocks-to-sell-in-july-before-they-crash-burn/">3 Russell 2000 Stocks to Sell in July Before They Crash &amp; Burn</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Russell 2000 Stocks to Sell in July Before They Crash & Burn

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Over the last 50 years, the banking industry in the United States has undergone a significant number of changes that have left it <a href="https://www.investopedia.com/articles/investing/011916/brief-history-us-banking-regulation.asp">more centralized than ever</a>. It has also left them reliant on big banks in the Federal Reserve for most people&rsquo;s active financial management. Where once most people went to their regional banking companies to obtain loans for houses or cars, now many are relying on a handful of big banks instead.&nbsp;



Part of this is a result of the digitized nature of modern banking, since for most accounts, there&rsquo;s no need to ever step into a physical banking location to open or manage the account. As a result, the geographical advantage that regional banks once had over large banks is gone, and many are struggling to keep up. Thus, it may be worth selling regional <a href="https://investorplace.com/industries/financial/bank/">bank stocks</a> over the next decade as digital banking and large corporations outcompete the sector.



<h2>Fifth Third Bancorp (FITB)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/02/fitb1600-300x169.jpg" alt="Fifth Third Bank sign on brick building"><div>Source: Susan Montgomery / Shutterstock.com</div></div>With over <a href="https://www.53.com/content/fifth-third/en.html">1,100 branches</a> and an exceptionally wide range of services, from accounts and loans to wealth management, Fifth Third Bancorp (NASDAQ:<a href="https://investorplace.com/stock-quotes/fitb-stock-quote/">FITB</a>) operates like something more of a large national bank than a regional one. However, for one reason or another, the Cincinnati, Ohio-based giant has remained relatively confined to the Midwest and Southeast regions of the United States.



This has put FITB on a relatively stable yet stagnant revenue trajectory despite its stock performing very well over the last 12 months. From an analytical standpoint, the company is relatively healthy enough to invest in at the moment. Its price-to-earnings ratio of <a href="https://www.google.com/finance/quote/FITB:NASDAQ">17.68x</a> is more than fair for major regional bank stocks and is currently very close to its 52-week high.



However, both revenue and net income have gradually declined for the company, which can clue investors in on a future dip to avoid. With the company&rsquo;s most recent second-quarter earnings report marking a 2.44% decline in revenue and a 6.81% decrease in net income, its ability to remain liquid over the long run and maintain investment growth could be at risk. 



<h2>New York Community Bancorp (NYCB)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/03/nycb1600-300x169.png" alt="Person holding cellphone with logo of US company New York Community Bancorp Inc. (NYCB) in front of business webpage. Focus on phone display. Unmodified photo."><div>Source: T. Schneider / Shutterstock.com</div></div>Back in April, I warned about New York Community Bancorp&rsquo;s (NYSE:<a href="https://investorplace.com/stock-quotes/nycb-stock-quote/">NYCB</a>) potential weakness following its rebranding to Flagstar. Since then, the stock has remained relatively flat, but its financial performance has decreased at a concerning pace.



The bank is currently facing a revenue decrease of 8.92% year-over-year, worsening its net losses of <a href="https://s203.q4cdn.com/110803960/files/doc_financials/2024/q1/nycb-1q24-10-q.pdf">$327 million</a>, which represents a 116% decrease year-over-year. As a result, both earnings per share and net profit margin are in the negative at -1.35 and -74.49% respectively. For a regional bank, this kind of income instability can be a death sentence over the long run, and may very well result in NYCB&rsquo;s being bought out by another, larger banking corporation.



Moreover, considering the general savings and investing struggles of the average person living in <a href="https://robinhood.org/news/annual-poverty-tracker-report-by-robin-hood-and-columbia-finds-nyc-poverty-increased-from-18-percent-to-23-percent-in-2022-a-jump-from-1-5-to-2-million-new-yorkers-living-in-poverty/#:~:text=Key%20findings%20from%20the%20report,from%2018%25%20to%2023%25.">New York City</a> and its metro area, NYCB is unlikely to raise capital from its region in the form of banking customers as many people leave the city due to increasing crime and cost of living.



<h2>Southern California Bancorp (BCAL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/10/bank-stocks-1600-300x169.jpg" alt="bank customer sliding money to teller at bank desk. promising bank stocks"><div>Source: Syda Productions / Shutterstock.com</div></div>Another regional banking corporation feeling the effects of regional flight on its income trajectory, Southern California Bancorp (NASDAQ:<a href="https://investorplace.com/stock-quotes/bcal-stock-quote/">BCAL</a>) has performed quite poorly year-to-date. As of Q1 2024, the company&rsquo;s revenue has sunk 15.32% year-over-year. This puts it at $22.24 million for the quarter, one of the lowest quarterly revenues compared to its last four quarters. 



As part of this downtrend, the bank&rsquo;s income for the same quarter dropped by 40% year-over-year, bringing it to <a href="https://investor.banksocal.com/news/news-details/2024/SOUTHERN-CALIFORNIA-BANCORP-REPORTS-NET-INCOME-OF-4.9-MILLION-FOR-THE-FIRST-QUARTER-OF-2024/default.aspx">$4.9 million</a>. As a result, investors might want to consider this a warning sign as it could signal a constriction in the bank&rsquo;s cash flow and liquidity. This is important because these metrics are key aspects of how regional bank stocks generate returns and further investor interest.



Should BCAL continue this financial downtrend, it&rsquo;s likely to wind up like the former Silicon Valley Bank which collapsed from a liquidity crisis. To avoid this, the company has initiated a <a href="https://investor.banksocal.com/news/news-details/2024/SOUTHERN-CALIFORNIA-BANCORP-AND-CALIFORNIA-BANCORP-ANNOUNCE-RECEIPT-OF-SHAREHOLDER-APPROVALS-FOR-MERGER-OF-EQUALS/default.aspx">merger of equals</a> with another California bank known as California Bancorp (NASDAQ:<a href="https://investorplace.com/stock-quotes/calb-stock-quote/">CALB</a>) but it is uncertain how long this could stave off losses.



On the date of publication, Viktor Zarev&nbsp;did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<div>Viktor Zarev is a scientist, researcher, and writer specializing in explaining the complex world of technology stocks through dedication to accuracy and understanding.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/07/3-regional-banking-stocks-to-sell-as-big-banks-grow/">3 Regional Banking Stocks to Sell as Big Banks Grow</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Regional Banking Stocks to Sell as Big Banks Grow

Bank of Southern California GAAP EPS of $0.01, revenue of $22.18M beats by $0.18M

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California BanCorp

California BanCorp (BCAL) Forecast

California BanCorp (NASDAQ:BCAL) Stock, Quote.Headers.trade-ideas