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OpenAI CEO Sam Altman appears to have been impressed with a user's observation on how elevator pitches are similar to Large Language Models or LLMs.&nbsp;
What Happened: Over the weekend, Altman took to X, formerly Twitter, and shared his opinion on the skill to be able to communicate most concisely. &#8220;Learning how to say something in 30 seconds that takes most people 5 minutes is a big unlock,&#8221; he said. 
This mode of relaying information is somewhat similar to &#8220;elevator pitches,&#8221; a term that is used to describe a &#8220;brief (think 30 seconds!) way of introducing yourself, getting across a key point or two, and making a connection with someone,&#8221; according to the Princeton University. 
See Also: <a href="https://www.benzinga.com/news/24/03/37557430/who-was-behind-sam-altmans-ouster-from-openai-new-reports-sheds-a-light-on-key-executives-role">Who Was Behind Sam Altman&#8217;s Ouster From OpenAI? New Reports Sheds A Light On Key Executives&#8217; Role</a>
Altman went on to suggest that learning this skill can be incredibly easy. &#8220;Consider asking a friend who is good at it to listen to you say something and then rephrase it back to you as concisely as they can a few dozen times. i have seen this work really well!),&#8221; he said. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">(and imo a surprisingly learnable skill. if you struggle with this, consider asking a friend who is good at it to listen to you say something and then rephrase it back to you as concisely as they can a few dozen times. i have seen this work really well!)
&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1784605138088529921?ref_src=twsrc%5Etfw">April 28, 2024</a></blockquote>
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He later shared a DM sent by a user who drew a parallel between elevator pitches and LLMs saying, &#8220;Interesting DM: &#8216;For what it&#8217;s worth this is basically how LLMs work.'&#8221;
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.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">interesting DM: &quot;For what it&#39;s worth this is basically how LLMs work.&quot; <a href="https://t.co/WN7Oc1CM9F">https://t.co/WN7Oc1CM9F</a>
&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1784643737525837935?ref_src=twsrc%5Etfw">April 28, 2024</a></blockquote>
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Why It's Important:&nbsp;LLMs like OpenAI AI-powered chatbot GPT 3.5 and GPT-4, Google Gemini and Meta&#8217;s Llama are known for their ability to condense information and generate responses. These models can present ideas, summarize concepts and provide insights, in a manner that emulates elevator pitches. 
However, it is important to mention, that AI-powered chatbots are <a href="https://www.benzinga.com/news/24/03/37559453/godfather-of-ai-explains-why-chatgpt-copilot-and-other-ai-chatbots-hallucinate">also known to hallucinate</a>, make up convincing lies and pass them on as facts. 
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/04/38421912/openais-sam-altman-invests-20m-in-startup-using-solar-power-to-address-ais-massive-energy-appetite">OpenAI&#8217;s Sam Altman Invests $20M In Startup Using Solar Power To Address AI&#8217;s Massive Energy Appetite</a>
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Your 30-Second Elevator Pitch Skills Mirror AI Power? OpenAI CEO Sam Altman Seems To Agree 'This Is Basically How LLMs Work'

&nbsp;<a href="https://www.globenewswire.com/Tracker?data=0fkl-rVd7PAt60PvMgEGg7ga4pXB20MCz6Sq0c2jXEHp787uvIXyNkz7m5WJ2T1rbZ6EX7kE2l3atofVnXsjGQ==" target="_blank">GXO Logistics, Inc.</a>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GXO#NYSE">GXO</a>), the world&#39;s largest pure-play contract logistics provider, announced that, effective today, it has completed its acquisition of Wincanton plc. All conditions of the acquisition have been met and GXO is now the sole shareholder of Wincanton. On May 13, 2024, Wincanton shareholders will be sent consideration of 605 pence for each Wincanton share held by those shareholders at the scheme record time (6:00 p.m. BST on 26 April 2024), excluding shares held by or on behalf of GXO or held in treasury. As is customary, GXO and Wincanton will continue to be run independently until the U.K. Competition and Markets Authority (CMA) has completed its review.

GXO Logistics Completes Acquisition of Wincanton, Financial Terms Undisclosed

Chinese battery giant CATL&#8216;s chairman Robin Zeng on Monday reportedly visited the hotel in Beijing where Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk is staying on his visit to China. 
What Happened: Zeng visited Musk&#8217;s hotel in Beijing on Monday, Reuters reported, citing witnesses. The witnesses saw Zeng exit an elevator in the lobby of Musk&#8217;s hotel where he was greeted by senior Tesla China executives Tom Zhu and Grace Tao. The news agency was unable to confirm if Zeng met with Musk. CATL is an important battery supplier for Tesla. 
Musk arrived in the country on Sunday and met with Chinese Premier Li Qiang and the organizer of the ongoing Beijing Auto Show.
The visit has sparked speculation about the deployment of the company&#8217;s full self-driving (FSD) driver assistance software in the country. The software, which Tesla touts to be capable of enabling autonomous driving in due time, currently requires active supervision. 
Why It Matters: Earlier today, it was reported that Tesla has <a href="https://www.benzinga.com/markets/asia/24/04/38481213/breaking-tesla-reportedly-teams-up-with-baidu-to-roll-out-fsd-in-china">partnered with Beijing-based internet company Baidu Inc</a> for lane-level mapping and navigation data for China, crucial to deploying FSD in the country. 
Musk has&nbsp;<a href="https://www.benzinga.com/news/24/04/38397845/tesla-will-solve-autonomy-even-if-i-got-kidnapped-by-aliens-tomorrow-says-elon-musk-as-he-reveals-ta" target="_blank" rel="noreferrer noopener">emphasized the importance</a>&nbsp;of FSD for Tesla's future value, stating last week, &#8220;If somebody doesn&#8217;t believe Tesla is going to solve autonomy, I think they should not be an investor in the company.&#8221; 
Earlier this month, he also hinted that the company will make FSD available to customers in China. &#8220;It may be possible very soon,&#8221; Musk wrote in response to a query from a vehicle owner in the East Asian country. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It may be possible very soon
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1781558948144820578?ref_src=twsrc%5Etfw">April 20, 2024</a></blockquote>
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Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:&nbsp;<a href="https://www.benzinga.com/markets/asia/24/04/38481213/breaking-tesla-reportedly-teams-up-with-baidu-to-roll-out-fsd-in-china">Musk&#8217;s China Mission Pays Off? Tesla Reportedly Inks FSD Deal With Internet Giant Baidu</a>
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TSLA

Did Tesla Seal Another Deal? Battery Giant CATL's Chairman Seen Visiting Elon Musk's Beijing Hotel

<ul>
<li>Daiichi Sankyo and AstraZeneca&#39;s ENHERTU also demonstrated a clinically meaningful progression-free survival improvement in patients with HER2 ultralow expression</li>
<li>Plans for global regulatory submissions are underway</li>
</ul>

DSKYF

Daiichi Sankyo And AstraZeneca's Shows Statistically Significant And Clinically Meaningful Improvement In HR+, HER2 Low Breast Cancer: DESTINY-Breast06 Trial Results

In a surprising turn of events, venture capital firm General Catalyst, an early investor of companies like Snap Inc., Stripe and Mistral, is on the brink of raising nearly $6 billion for tech start-up investments, despite the current fundraising drought in the sector.
What Happened: General Catalyst could finalize its latest fund as early as next month, Financial Times <a href="https://www.ft.com/content/17c03819-4566-4fd2-b0b4-45f5677d8749">reported</a> on Sunday. The firm plans to utilize the new funds to invest in various sectors including defense, space, climate, fintech, and healthcare in the U.S., Europe, and India.
This significant investment indicates that institutional investors, endowments, and foundations, also known as limited partners, are still willing to support well-known firms even amid a broader fundraising crunch.
See Also: <a href="https://www.benzinga.com/markets/equities/24/04/38476449/voters-reveal-whether-they-feel-donald-trump-is-receiving-fair-treatment-in-court-in-latest-poll?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Voters Reveal Whether They Feel Donald Trump Is Receiving Fair Treatment In Court In Latest Poll — What That Means For Former President&#8217;s Election Chances</a>
Under the leadership of Hemant Taneja, who took over in 2021, General Catalyst has been focusing on &#8220;responsible innovation&#8221; and fostering closer ties with policymakers and regulators, particularly in the field of artificial intelligence.
The current scenario has created a two-tier market, where new entrants find it challenging to survive. Despite this, General Catalyst&#8217;s unconventional approach of expanding into other countries and targeting sectors with established incumbents has found favor with limited partners.
Why It Matters: The fundraising plans of General Catalyst come on the heels of <a href="https://www.benzinga.com/news/24/03/37526079/andreessen-horowitz-plans-to-raise-6-9b-for-ai-funds-gaming-and-american-dynamism-report">Andreessen Horowitz&#8216;s $7.2 billion fundraise</a>, marking the largest funds raised since the end of 2022, according to PitchBook data. However, overall fundraising for US venture capital firms has seen a significant decline, with the total raised last year amounting to $81 billion, less than half of 2022&#8217;s total.
This fundraising success is noteworthy, especially in light of <a href="https://www.benzinga.com/24/04/38381596/worlds-largest-wealth-fund-ceo-cautions-over-tech-sector-froth-ahead-of-major-earnings">recent concerns over the tech sector&#8217;s &#8220;frothiness&#8221; </a>expressed by Nicolai Tangen, CEO of Norges Bank Investment Management, the world&#8217;s largest wealth fund. Furthermore, <a href="https://www.benzinga.com/news/24/03/37952004/elon-musk-joins-andreessens-demand-for-tech-accountability-funding-of-horrendous-causes-questioned">the demand for tech accountability,</a> as supported by Elon Musk and Marc Andreessen, adds another layer of complexity to the tech investment landscape.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38475710/trump-media-stock-experiences-abnormally-volatile-first-month-says-expert-any-stock-i-can-ever-r?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Media Stock Experiences &#8216;Abnormally Volatile&#8217; First Month, Says Expert: &#8216;Any Stock I Can Ever Recall Being&#8217;</a>
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Snapchat's Early Investor General Catalyst Plans To Raise $6B For Tech Startups In US, Europe And India Despite Funding Drought

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.kosmosenergy.com%2F&amp;esheet=53957346&amp;newsitemid=20240428898652&amp;lan=en-US&amp;anchor=Kosmos+Energy&amp;index=1&amp;md5=024105102d910cd690f5e5a04e1ae6fb">Kosmos Energy</a>&nbsp;(NYSE/LSE: KOS) (&quot;Kosmos&quot; or the &quot;Company&quot;) announced today that it has successfully re-financed its reserve-based lending (&quot;RBL&quot;) facility extending the maturity by approximately three years, with the RBL facility&#39;s final maturity now in December 2029.
In conjunction with the spring re-determination, the total RBL facility size has been increased to&nbsp;$1.35 billion&nbsp;(from&nbsp;$1.25 billion) with current commitments of approximately&nbsp;$1.2 billion. Discussions with additional potential lenders are ongoing and are expected to increase commitments later this year towards the RBL facility size.&nbsp;$800 million&nbsp;is currently drawn against the RBL facility with the first amortization payment scheduled for April 1, 2027.
The RBL facility is secured against the Company&#39;s production assets in Ghana and Equatorial Guinea with the Company&#39;s assets in the US Gulf of Mexico and Mauritania &amp; Senegal remaining unencumbered. The resulting borrowing base following the spring re-determination significantly exceeds the RBL facility size. The interest margin payable on the RBL increased slightly compared to the previous facility, reflecting the current banking market environment, with the new interest margin on the RBL facility commencing at 400 basis points above the Secured Overnight Financing Rate (&quot;SOFR&quot;) for the first two years.
As part of the RBL facility re-financing, the Company has downsized its revolving credit facility (&quot;RCF&quot;) from&nbsp;$250 million&nbsp;to approximately&nbsp;$165 million&nbsp;with some banks transferring their commitments from the RCF to the RBL in anticipation of the RCF maturing at the end of 2024.

Kosmos Energy Boosts Financial Flexibility with Extended and Expanded $1.35B Loan Facility

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

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

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

YUMC

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

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

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Equities

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

SATS

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

ITRI

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

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

ADXN

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

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

LAES

WKEY

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

China is set to launch an ambitious mission to the far side of the moon, marking a significant step in its lunar exploration program and potentially setting the stage for a crewed landing and the establishment of a lunar base.
What Happened: China is preparing to launch a robotic spacecraft to the moon&#8217;s far side, a mission that will be the first of three challenging endeavors. These missions are expected to set the stage for a Chinese crewed landing and the construction of a base at the moon&#8217;s south pole, Reuters reported.
The upcoming mission, named Chang&#8217;e-6, is expected to launch this week. It will use the backup spacecraft from the 2020 mission to collect soil and rocks from the moon&#8217;s far side. This mission will rely on a recently deployed relay satellite orbiting the moon for communication during its 53-day mission.
China&#8217;s future missions, Chang&#8217;e-7 and Chang&#8217;e-8 in 2026 and 2028, respectively, will also rely on this relay satellite. These missions will focus on exploring the moon&#8217;s south pole for water and establishing a rudimentary outpost with Russia. China aims to land its astronauts on the moon by 2030.
Chang&#8217;e-6 is set to transport payloads from France, Italy, Sweden, and Pakistan, while Chang&#8217;e-7 will carry payloads from Russia, Switzerland, and Thailand. Due to U.S. legal restrictions, NASA is prohibited from engaging in any form of collaboration, whether direct or indirect, with China.
&#8220;International cooperation is key (to lunar exploration),&#8221; Clive Neal, professor of planetary geology at the University of Notre Dame, told Reuters. &#8220;It&#8217;s just that China and the U.S. aren&#8217;t cooperating right now. I hope that will happen.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/04/38430009/xi-jinping-calls-for-chinese-army-to-focus-on-the-battlefield-during-visit-to-military-medical-unive?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Xi Jinping Calls For Chinese Army To &#8216;Focus On The Battlefield&#8217; During Visit To Military Medical Universi</a>
Why It Matters: China&#8217;s upcoming mission to the moon&#8217;s far side is a significant milestone in its lunar exploration program. This mission follows the successful <a href="https://www.benzinga.com/news/24/03/37840762/china-marks-new-era-in-space-race-with-launch-of-queqiao-2-for-future-lunar-missions">launch of the Queqiao-2 satellite</a>, which will facilitate communication for China&#8217;s upcoming lunar missions. The success of these missions could potentially challenge the U.S.&#8217;s dominance in space exploration.
China&#8217;s rapid advancements in space technology have been a cause for concern for the U.S., as highlighted by the head of the <a href="https://www.benzinga.com/news/24/03/37413806/us-space-command-chief-warns-of-chinas-alarming-military-space-and-counterspace-capabilities">U.S. Space Command</a>, General Stephen Whiting, in a March Senate hearing. China&#8217;s progress in space technology, including human spaceflight and robotic space exploration, could pose a significant threat to U.S. satellites and military forces.
China&#8217;s space industry is also making strides in the development of reusable rockets, with local startups aiming to challenge the dominance of SpaceX. Companies like Orienspace are working on <a href="https://www.benzinga.com/news/24/02/36948275/chinas-orienspace-aims-to-rival-elon-musks-spacex-with-reusable-rockets-by-2026">reusable rockets</a> to reduce the costs associated with satellite launches. 
Read Next: <a href="https://www.benzinga.com/news/24/04/38480393/gold-soars-against-the-odds-eastern-buying-spree-or-1970s-redux-billionaire-investor-david-einhorn-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Gold Soars Against The Odds: Eastern Buying Spree Or 1970s Redux? Billionaire Investor David Einhorn Thinks There&#8217;s A &#8216;Secular Trend&#8217;</a>
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Global

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

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

Price Target

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

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

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

Previews

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CHRW

CHTR

CMCSA

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DKNG

EBAY

ETSY

EXPE

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FIVN

FRSH

FSLR

GEHC

GILD

GRMN

ILMN

INTC

JBLU

JNPR

KLAC

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LSCC

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

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

Politics

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

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

Government

Regulations

BIDU

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

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

Guidance

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

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

Angel Oak Income ETF declares monthly distribution of $0.1077

Angel Oak Income ETF declares monthly distribution of $0.1126

Angel Oak Income ETF declares monthly distribution of $0.0847

Angel Oak Income ETF declares $0.093 dividend

Angel Oak Income ETF declares monthly distribution of $0.1153

Angel Oak Income ETF declares monthly distribution of $0.1027

Angel Oak Income ETF declares monthly distribution of $0.1119

Higher-Yield ETFs By Asset Class

CARY: Strong Investment-Grade ETF, Above-Average 6.2% Yield And Performance

3 Investment-Grade ETF Buys, With Yields Up To 8.0%

BIZD

BOXX

CARY

CLOZ

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JBBB

Press Releases

Angel Oak Capital Advisors' UltraShort Income ETF Surpasses $100M in Assets in One Year, Sets Stage for ETF Platform Growth in 2024

Angel Oak Capital Advisors Names Namit Sinha as Chief Investment Officer

Angel Oak Capital Advisors Continues Success With ETF Platform as Angel Oak Income ETF Crosses $100 Million in Assets Under Management

Angel Oak Capital Advisors Completes Conversion of Two Mutual Funds to ETFs

AOHY

UYLD