Latest news for China Literature (OTC:CHLLF) Stock

China Literature Ltd is an investment holding company. The company along with its subsidiaries provides online reading services, copyright commercialization, writer cultivation and brokerage, and operation of text work reading. It generates its revenue from Online reading through self-owned platform products. it operates in two segments: Online business and Intellectual property operations and others. The Online business segment that derives the majority of revenue comprises online paid reading, online advertising, and game publishing. The Intellectual property operations and other segment include licensing and distribution of film and television properties, copyrights licensing, sales of adaptation rights and scripts, sales of physical books, and in-house online games operations.

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Key Takeaways:


	Huya is looking to use the APKpure acquisition to better promote and distribute games internationally 
	Tencent is eager to divest non-core businesses as the Chinese government continues to tighten gaming regulations


By Li Shi Ta

Out With The Old… Tencent Sells App Store To Huya

CHINA LITERATURE LTD by China Literature Limited

China Literature Ltd

HC Wainwright &amp; Co. analyst Amit Dayal reiterates Newpark Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NR#NYSE">NR</a>) with a Buy and maintains $12 price target.

News

Price Target

Reiteration

Analyst Ratings

HC Wainwright & Co. Reiterates Buy on Newpark Resources, Maintains $12 Price Target

Michaël van de Poppe, a well-known cryptocurrency analyst, says there is a beginning of a bull market after the Federal Reserve's <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40926729/bitcoin-spikes-above-61-000-as-fed-implements-50-bps-rate-cut">recent decision to cut interest rates</a>.
What Happened: According to his post, van de Poppe is bullish on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), and decentralized finance (DeFi). He stated, &#8220;The bull market has started. Long #Bitcoin. Long #Ethereum. Long DeFi.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">GM. The bull market has started. Long <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>. Long <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a>. Long DeFi.
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1836578218351935904?ref_src=twsrc%5Etfw">September 19, 2024</a></blockquote>
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In another post, van de Poppe elaborated on the recent Federal Open Market Committee meeting, highlighting a significant 50 basis points rate cut. He mentioned that the dot plot suggests additional rate cuts of 50-75 basis points in the coming months, which he views as bullish for cryptocurrencies.
Van de Poppe also noted that the FOMC does not anticipate a significant rise in unemployment, which he believes is crucial for market stability. 
However, he expressed skepticism about the FOMC&#8217;s outlook, predicting a reduction in labor markets and a substantial economic impact that would necessitate quantitative easing to sustain economic momentum.
&#8220;I think they have a wrong view, I suspect that there will be a reduction in the labor markets and a huge impact on the economy, through which QE is required to keep the economy moving forward,&#8221; wrote van de Poppe. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The FOMC meeting was massive. 50bps rate cut. However, the dotplot assumes that another 50-75bps of rate cuts are likely to be happening in the coming months &#8211;&gt; bullish for <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> &amp; <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>. The most significant thing: FOMC doesn&#39;t expect a massive impact on unemployment. This…
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1836670076679807004?ref_src=twsrc%5Etfw">September 19, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40924380/mark-cuban-slams-trumps-crypto-plans-while-jon-stewart-calls-him-the-lefts-favorite-billio?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Slams Trump&#8217;s Crypto Plans While Jon Stewart Calls Him &#8216;The Left&#8217;s Favorite Billionaire&#8217;</a>
Why It Matters: The announcement from van de Poppe comes on the heels of significant developments in the cryptocurrency market. On Wednesday, Bitcoin surged past the $61,000 mark following the Federal Reserve&#8217;s <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40926729/bitcoin-spikes-above-61-000-as-fed-implements-50-bps-rate-cut">announcement of a 50 basis point rate cut</a>, bringing the federal funds rate down to a range of 4.75% to 5%. 
Additionally, the Federal Reserve&#8217;s decision to cut rates was widely anticipated, with an 85% likelihood leading up to the announcement. This anticipation led to a <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40931419/bitcoin-and-ethereum-euphoria-built-around-rate-cuts-could-be-ruined-by-retail-traders-say">bullish reaction in both cryptocurrency and traditional equity markets</a>. However, prices quickly reversed as traders executed buy orders.
Former President Donald Trump also made headlines by using Bitcoin to <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40932192/trump-pays-up-for-smash-burgers-and-diet-cokes-with-bitcoin-during-new-york-campaign-halt-">pay for smash burgers and Diet Cokes</a> during a campaign stop in New York City. This move was hailed as &#8220;one of the most historic transactions&#8221; and aimed to bolster his support from the crypto community.
Price Action: Bitcoin is currently trading at $62,017.60, up 0.59% in the last 24 hours. Year to date, it has gained 40.30%. Meanwhile, Ether is currently priced at $2,357, rising 2.63% in the last 24 hours. Year to date, it has increased 0.19%, according to&nbsp;<a href="https://www.benzinga.com/pro/login" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><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?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Team Says Launching K9 Finance Liquid Staking On Shibarium Tomorrow: Are SHIB Burns Set To Accelerate From Here On Now?</a></li>
</ul>
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>

Analyst Color

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

Cryptocurrency

Federal Reserve

$BTC

$ETH

Analyst Predicts Energized Crypto Market After Fed's Decision: Says Bitcoin, Ethereum, And DeFi Set To Rally Amid Anticipation Of Further Rate Cuts: 'The Bull Market Has Started'

The conversions are intended to reduce greenhouse gas emissions by lowering methane slip in support of Chevron Shipping's broader efforts to reduce the carbon intensity of its operations. This marine industry first was made possible after two years of collaboration between the companies.

Commodities

Contracts

Technology Group Wärtsilä, In Partnership With Chevron Shipping Company, Plans To Convert One Engine On Six Of Chevron Transport's LNG Carriers From Dual-fuel To Spark Gas Operation, The Order For The First Two Vessels Was Booked By Wärtsilä In Q3 2024

The company recently announced new revenue contracts for its solar panel recycling business, an international equity partnership with revenue and royalty generating agreements for its low carbon, lignocellulosic fuels business, certain asset sales and an indicative term sheet for&nbsp;$325 million&nbsp;in gross funding through SBC Commerce LLC, a U.S. based, globally positioned, private equity group.
The remainder of the Comstock&#39;s convertible debt has been either converted, redeemed or extinguished. 
&nbsp;
&nbsp;

LODE

Comstock Says SBCC transactions Are Progressing; Reveals Additional Convertible Debt Financing Of $3.5M, With Option For Additional $1.5M;

Coherent Corp. (NYSE:&nbsp;COHR), a global leader in high-performance optical networking solutions, today announced an uncooled dual-chip 980 nm micro-pump laser delivering a powerful 2x400 mW output. The new laser is delivered in a compact 3-pin module, making it the ideal choice for next-generation coherent transceivers in data center interconnects and in compact single-channel and bidirectional amplifiers for metro and long-haul networks.
Next-generation coherent transmission applications continue to demand amplifiers that can operate efficiently in space- and power-constrained environments and in a wider operating temperature range outside the central office. Single-mode uncooled dual-chip micro-pump lasers from Coherent offer an industry-first output power of 2x400 mW with power consumption of less than 2 W in environments where temperatures can range from -20 to 85 degrees Celsius.
Uncooled modules help address the growing need for energy-efficient communications networks at a lower cost of ownership by reducing overall power consumption and eliminating much of the thermal and power management systems associated with cooled lasers.

COHR

Coherent Launches Energy-Efficient 980 nm Micro-Pump Laser, Reduces Power Consumption for Network Amplifiers

Infosys ((NSE, BSE, NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INFY#NYSE">INFY</a>), a global leader in nextgeneration digital services and consulting, today announced it is extending its strategic collaboration with Posti, the leading delivery and logistics services provider in Finland, Sweden, and the Baltics. As part of the engagement, Infosys will help Posti enhance customer experience and operational efficiency while continuing to innovate, scale, and grow its IT operations

INFY

Infosys, Posti Extend Strategic Collaboration

Legal

Tech

AAPL

Apple Told By EU Antitrust Regulators How To Comply With Obligations Set Out Under EU Tech Rules; Apple Must Ensure Rivals Can Function With Its IOS Mobile Operating System; Must Respond To Interoperability Requests From Developers And Third Parties

Billionaire investor Ray Dalio has highlighted the difficulties faced by the U.S. Federal Reserve as it navigates interest rate cuts amid a <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40927293/powell-defends-0-5-interest-rate-drop-as-right-thing-for-the-economy-doubles-down">heavily indebted economy</a>. 
What Happened: On Thursday, Dalio the founder of Bridgewater Associates said that the Fed must balance keeping interest rates high enough to benefit creditors while not excessively burdening debtors, Dalio <a href="https://www.cnbc.com/2024/09/19/ray-dalio-says-the-fed-faces-a-tough-balancing-act.html">said</a> in an interview with CNBC.
The central bank reduced the federal funds rate by 50 basis points on Wednesday to 4.75% to 5%, impacting banks&#8217; short-term borrowing costs.
Dalio expressed concerns about the &#8220;enormous amount of debt&#8221; in the U.S. The <a href="https://www.benzinga.com/news/24/09/40869188/robert-kiyosaki-rings-alarm-bells-over-soaring-us-debt-the-dollar-is-trash">government has spent over $1 trillion</a> on interest payments for its $35.3 trillion national debt this year. 
Despite these challenges, Dalio does not foresee a looming credit event but anticipates a significant depreciation in the value of debt through artificially low real rates. He warned that the path forward might involve monetizing the debt, similar to Japan&#8217;s approach, which could lead to depreciated currency values and lower bond yields.
"I see a big depreciation in the value of that debt through a combination of artificial low real rates, so you won't be compensated," Dalio said.
Dalio concluded by stating that he does not favor debt assets for his portfolio, preferring to underweight them, particularly bonds.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40891378/ahead-of-fomc-meeting-paul-krugman-says-fed-rates-will-be-elevated-even-with-50-bps?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ahead Of FOMC Meeting Paul Krugman Says Fed Rates Will Be Elevated Even With 50 Bps Cut: &#8216;Argument For Incrementalism Is Very Weak&#8217;</a>
Why It Matters: The Federal Reserve&#8217;s recent rate cut marks the first <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40927293/powell-defends-0-5-interest-rate-drop-as-right-thing-for-the-economy-doubles-down">reduction in more than four years</a>. Federal Reserve Chair Jerome Powell defended the decision, emphasizing the need to support a strong labor market and prevent economic harm. Powell stated, "The time to support the labor market is when it's strong, not when you begin to see layoffs."
Furthermore, the rate cut&#8217;s implications extend to <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/09/40928301/interest-rates-in-free-fall-what-it-means-for-mortgages-credit-cards-and-your-wallet-a">consumer financial products</a>. The reduction could affect mortgage rates, credit card interest rates, and auto loan rates, potentially easing the financial burden on consumers.
However, the economic <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40933361/jim-cramer-predicts-no-huge-run-for-tech-stocks-after-federal-reserve-cuts-rate-it-">landscape remains complex</a>. Jim Cramer noted that the rate cuts might not significantly benefit tech stocks, suggesting that the market had already anticipated this move.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40913930/kamala-harris-moves-from-13-point-deficit-to-7-point-lead-over-trump-in-survey-of-fund-managers-stra?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kamala Harris Moves From 13-Point Deficit To 7-Point Lead Over Trump In Survey Of Fund Managers, Strategists And Economists: Here&#8217;s Why Most Favor A Divided Government</a></li>
</ul>
Image via Wikimedia Commons/ Web Summit
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>

Global

Economics

Billionaire Ray Dalio Warns Fed Faces Tough Road Ahead Balancing Interest Rate Cuts And 'Enormous' US Debt Amid $1 Trillion In Interest Payments This Year

Redburn Atlantic analyst Sebastian Erskine initiates coverage on Kodiak Gas Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGS#NYSE">KGS</a>) with a Buy rating and announces Price Target of $35.

Initiation

Redburn Atlantic Initiates Coverage On Kodiak Gas Services with Buy Rating, Announces Price Target of $35

Redburn Atlantic analyst Oliver Davies downgrades Rentokil Initial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTO#NYSE">RTO</a>) from Buy to Neutral.

Downgrades

Redburn Atlantic Downgrades Rentokil Initial to Neutral

RBC Capital analyst Jonathan Atkin initiates coverage on Charter Communications (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) with a Sector Perform rating and announces Price Target of $345.

CHTR

RBC Capital Initiates Coverage On Charter Communications with Sector Perform Rating, Announces Price Target of $345

The International Brotherhood of Teamsters will <a href="https://www.benzinga.com/general/politics/24/09/40904301/will-kamala-harris-land-teamsters-endorsement-union-leaders-recall-ups-dispute-in-tense-closed-d">not endorse any candidate</a> for U.S. President, the union said on Wednesday.
What Happened: The General Executive Board of the 1.3 million member union elected to not endorse any candidate after receiving &#8220;few commitments&#8221; on union issues from either former President Donald Trump or Vice President Kamala Harris, the union said. 
&#8220;We sought commitments from both Trump and Harris not to interfere in critical union campaigns or core Teamsters industries—and to honor our members' right to strike—but were unable to secure those pledges," Teamsters General President Sean M O'Brien said.
The union also did not find definitive support for either the Democratic party&#8217;s presidential nominee or the Republican party&#8217;s nominee among union members, it said. 
However, results of an electronic poll conducted among union members between July and September showed that a majority of voting members preferred Trump for a possible Teamsters endorsement over Harris by 59.6% to 34%. The union members include freight drivers, warehouse workers, and sanitation workers, among others. 
Why It Matters: The Teamsters Union had endorsed President Joe Biden in 2020. It also endorsed Hillary Clinton in 2016 and Barack Obama in 2008 and 2012. However, before 2000, it did endorse Republican candidates including Ronald Reagan and Richard Nixon.
Other major unions have, however, endorsed Harris. United Auto Workers (UAW) union <a href="https://www.benzinga.com/news/24/07/40087673/kamala-harris-says-proud-to-recieve-uaw-endorsement-spent-entire-career-fighting-for-unions-and-work">endorsed Harris in July </a>and so did the American Federation of Labor and Congress of Industrial Organizations.
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:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40917032/tesla-cybertruck-lead-engineer-warns-against-using-extension-cord-on-superchargers" target="_blank" rel="noreferrer noopener">Tesla Cybertruck Lead Engineer Warns Against Using Extension Cord On Superchargers</a></li>
</ul>
Photo courtesy: Teamsters

Politics

Teamsters Opts To Not Endorse Either Harris Or Trump For Upcoming Presidential Elections, Citing Failure To Secure Pledges Of Non-Interference In Union Campaigns

JMP Securities analyst Constantine Davides downgrades Progyny (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGNY#NASDAQ">PGNY</a>) from Market Outperform to Market Perform.

PGNY

JMP Securities Downgrades Progyny to Market Perform

Shares of Exicure, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XCUR#NASDAQ">XCUR</a>) rose sharply in today's pre-market trading after the company announced it received an extension <a href="https://www.benzinga.com/general/biotech/24/09/40928868/exicure-stock-is-soaring-after-the-bell-whats-driving-the-action">from the Nasdaq Hearings Panel.</a>
After the market close, Exicure announced that it was granted an extension for continued listing on the Nasdaq exchange. The early-stage biotechnology company must now show compliance with all applicable criteria for continued listing on the Nasdaq by Nov. 14.
Exicure shares jumped 179.9% to $6.41 in the pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Zeo Energy Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZEO#NASDAQ">ZEO</a>) gained 288.9% to $4.55 in pre-market trading after declining around 9% on Wednesday.</li>
<li>Telesis Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TBIO#NASDAQ">TBIO</a>) gained 138.4% to $3.22 in the pre-market trading session. Telesis Bio recently announced that it has notified the Nasdaq Stock Market of its decision to delist.</li>
<li>Venus Concept Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERO#NASDAQ">VERO</a>) gained 82.8% to $0.9188 in pre-market trading after the company announced Australian regulatory approval for Venus Bliss MAX.</li>
<li>Freight Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRGT#NASDAQ">FRGT</a>) rose 60.6% to $0.1991 in pre-market trading after gaining 12% on Wednesday. Freight Technologies was recently selected by Bayer CropScience as a logistics provider for 2025 and was awarded six essential cross-border lanes to provide truckload services.</li>
<li>Mynaric AG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYNA#NASDAQ">MYNA</a>) shares rose 25.6% to $1.37 in pre-market trading after gaining 18% on Wednesday.</li>
<li>ProMIS Neurosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PMN#NASDAQ">PMN</a>) gained 20.2% to $1.49 in pre-market trading after declining 5% on Wednesday.</li>
<li>Maxeon Solar Technologies, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAXN#NASDAQ">MAXN</a>) gained 17.4% to $0.1067 in pre-market trading after gaining more than 5% on Wednesday.</li>
<li>Graphjet Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTI#NASDAQ">GTI</a>) rose 17.4% to $3.00 in pre-market trading after gaining around 12% on Wednesday.</li>
<li>XCHG Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XCH#NASDAQ">XCH</a>) shares gained 13.2% to $20.80 in pre-market trading after jumping over 65% on Wednesday.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Progyny, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGNY#NASDAQ">PGNY</a>) fell 23.2% to $18.78 in pre-market trading.</li>
<li>Webuy Global Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBUY#NASDAQ">WBUY</a>) fell 17.4% to $0.1523 in pre-market trading after surging around 59% on Wednesday.</li>
<li>Veea Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VEEA#NASDAQ">VEEA</a>) shares fell 15.8% to $10.31 in pre-market trading. Veea shares jumped 131% on Wednesday after the company announced a strategic partnership with Crowdkeep to integrate their respective technologies into a singular, tailored solution to track assets, people, and conditions across a variety of use cases.</li>
<li>1847 Holdings LLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFSH#NYSE">EFSH</a>) shares dipped 15% to $1.70 in pre-market trading after declining 13% on Wednesday.</li>
<li>BurgerFi International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BFI#NASDAQ">BFI</a>) shares declined 12% to $0.15 in pre-market trading after dipping 27% on Wednesday.</li>
<li>Allarity Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALLR#NASDAQ">ALLR</a>) shares declined 11.2% to $2.04 in pre-market trading following a 23% decline on Wednesday.</li>
<li>Singularity Future Technology Ltd.. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGLY#NASDAQ">SGLY</a>) declined 11.2% to $1.86 in pre-market trading after gaining around 35% on Wednesday.</li>
<li>Odyssey Marine Exploration, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OMEX#NASDAQ">OMEX</a>) fell 9.3% to $1.27 in today's pre-market trading after jumping 182% on Wednesday. The company recently announced an award in its arbitration with the United Mexican States under Chapter Eleven of the North American Free Trade Agreement (NAFTA).</li>
<li>Smith Micro Software Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMSI#NASDAQ">SMSI</a>) shares fell 9.3% to $0.92 in pre-market trading after jumping around 6% on Wednesday.</li>
<li>Steelcase Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCS#NYSE">SCS</a>) shares fell 8.9% to $12.85 in pre-market trading after the company reported worse-than-expected second-quarter revenue results.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/09/40925678/fedex-gears-up-for-q1-print-here-are-the-recent-forecast-changes-from-wall-streets-most-accurate-an">FedEx Gears Up For Q1 Print; Here Are The Recent Forecast Changes From Wall Street&#8217;s Most Accurate Analysts</a></li>
</ul>

Pre-Market Outlook

Movers

Trading Ideas

ALLR

EFSH

FRGT

Maxeon Solar Technologies, Ltd. - Ordinary Shares

MAXN

MYNA

OMEX

SGLY

SMSI

TBIO

VEEA

VERO

WBUY

XCUR

Why Exicure Shares Are Trading Higher By Around 180%; Here Are 20 Stocks Moving Premarket

AMD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) CEO Lisa Su emphasized the importance of diverse computing solutions in the face of competition with Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) led by <a href="https://www.benzinga.com/news/24/08/40594137/heres-what-nvidias-jensen-huang-had-to-say-about-amd-ceo-and-his-cousin-lisa-su">her cousin Jensen Huang</a>. 
What Happened: Su stated on Wednesday that there is &#8220;no one size fits all in computing.&#8221;
&#8220;There's no, you know, only one architecture. Actually, you're going to need the right compute for each application,&#8221; she added, during an <a href="https://www.cnbc.com/2024/09/18/amd-ceo-on-nvidia-theres-no-one-size-fits-all-in-computing.html">interview</a> with CNBC&#8217;s Jim Cramer.
Su highlighted that the semiconductor industry benefits from both competition and collaboration among companies.
Su also discussed the future impact of artificial intelligence (AI), predicting that AI will become integral to everyday life across sectors such as business, education, and healthcare. She forecasted the AI accelerator market to reach $400 billion by 2027.
Su concluded by urging patience with tech trends, noting that significant advancements unfold over years, not months.
See Also: <a href="https://www.benzinga.com/news/24/09/40893054/mark-cuban-says-he-would-buy-rupert-murdochs-fox-news-and-elon-musks-x-but-there-are-some-obstacles?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Says He Would Buy Rupert Murdoch&#8217;s Fox News And Elon Musk&#8217;s X But There Are Some Obstacles: &#8216;If I Had Enough… I&#8217;d Buy It In A Heartbeat&#8217;</a>
Why It Matters: The rivalry between AMD and Nvidia has intensified, particularly in the AI sector. Recently, Su highlighted AMD&#8217;s <a href="https://www.benzinga.com/markets/equities/24/09/40785940/nvidia-rivalry-pushes-amd-to-shift-focus-away-from-flagship-gaming-gpus-as-lisa-su-chases-ai-sup">shift away from flagship gaming GPUs</a> to focus on AI, projecting $4.5 billion in MI300X AI chip sales for 2024. She emphasized that AMD&#8217;s AI roadmap includes the annual release of new AI chips, starting with the MI325 later this year, followed by the MI350 in 2025 and the MI400 in 2026. This move aims to challenge Nvidia&#8217;s dominance in AI chip technology.
The competition is heating up as both companies vie for a <a href="https://www.benzinga.com/trading-ideas/technicals/24/09/40853499/amd-vs-nvidia-ai-stock-showdown-heats-up-as-market-awaits-next-big-move">larger share of the AI market</a>. As of Sep. 13, AMD&#8217;s stock has risen 39.98% over the past year, while Nvidia&#8217;s has surged 161.90%. Year-to-date, AMD is up 8.80%, and Nvidia has soared 147.33%. Nvidia&#8217;s first-mover advantage in the AI space has helped it amass a market cap of over $2.9 trillion, with AMD trailing at around $245 billion.
Price Action: At the time of writing, AMD was trading 3.18% higher during pre-market on Thursday while Nvidia was up by 2.80%, according to <a href="https://pro.benzinga.com">Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40914747/jpmorgan-ceo-jamie-dimon-thinks-social-media-platforms-like-tiktok-and-facebook-are-a-total-stupid-w?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">JPMorgan CEO Jamie Dimon Thinks Social Media Platforms Like TikTok And Facebook Are &#8216;A Total Stupid Waste Of Time&#8217;</a></li>
</ul>
Image made via photos on Shutterstock and 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/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

NVDA

Nvidia Rival AMD's CEO Says 'There's No One Size Fits All' As AI Chip Race Heats Up

Vice President Kamala Harris is ahead by 2.9 points in veteran pollster Nate Silver&#8217;s forecast model, dubbed Silver Bulletin, with the Democratic candidate <a href="https://www.benzinga.com/news/24/09/40808499/trump-vs-harris-debates-results-are-in-flash-poll-shows-resounding-majority-pick-vice-president-as-w">getting a bounce from the debate held on Sept. 10.</a>
Harris&#8217; Lead Swells: The 2.9-point lead Harris now has over her Republican rival Donald Trump compares to the 2.2-point lead she had on the debate day and the 2 points by which she was ahead the day after the debate when none of the post-debate polls results had dropped, Silver said in his substack post on Tuesday.
The results from the latest polls, conducted on Sunday or Monday, show a bigger lead for the vice president, with the lead running to as much as 4.9 points, he noted. &#8220;It&#8217;s possible that Harris is benefiting not just from the debate but also from the favorable news coverage that it's brought her,&#8221; he said. 
Silver clarified that these are a favorable set of polls for Harris as they have Democratic-leaning house effects.
No Assassination Attempt Boost: Another unsuccessful assassination attempt at Trump, this time in Florida, didn&#8217;t create much ripples, Silver said. The first one at a Pennsylvania campaign rally instantly produced a bump in the ex-president&#8217;s poll numbers.
&#8220;The news cycle turns over quickly,&#8221; the polling veteran said.
That said, <a href="https://www.benzinga.com/news/24/09/40867103/nate-silver-if-trump-loses-he-will-have-let-election-slip-out-of-his-grasp-as-underlying-factors-fav">fundamentals of the race still probably favor</a> Trump, he said, reiterating a view from last weekend.
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/40917216/elon-musk-says-warren-buffett-is-positioning-for-kamala-harris-win-with-his-277b-cash-pile-as-pr">Elon Musk Says Warren Buffett Is Positioning For Kamala Harris Win With His $277B Cash Pile As Pro-Trumper John Paulson Warns Of Equity Market Exit</a>
What State Polls Tell? The results of state polls have been more mixed for Harris, Silver said. USA Today-Suffolk University poll results showed the vice president ahead in the key swing state of Pennsylvania by 3 points, he said, adding that the poll is of high quality. But another poll revealed she was behind in the state by 2 points, he said.
&#8220;State polls are really what matters the most to the model in the end,&#8221; Silver said.
The Odds: Silver said there is now a 25% chance of Harris winning the popular vote but losing the electoral college. But the odds of her losing the popular vote but winning the electoral college is only 0.2%, he said. &#8220;You'll see lots of headlines saying that Harris is leading — but our elections aren't determined by the popular vote,&#8221; he added. 
To make his case, he noted that former Secretary of State and Democratic presidential candidate Hillary Clinton won the popular vote by 2.1 points in 2016 but lost the electoral college. President Joe Biden won the popular vote by nearly 4.5 points but barely emerged victorious in tipping-point states like Wisconsin, he added.
&#8220;So if Harris is ahead by 3-ish points — in between Clinton and Biden — you can see why the model thinks of the race as a tossup,&#8221; Silver said.
Commenting on Trump, the pollster said the former president and his running mate Sen. J.D. Vance (R-Ohio) have made a lot of mistakes in the campaign, the latest being &#8220;<a href="https://www.benzinga.com/news/24/09/40866950/donald-trumps-pet-eating-claims-shaking-up-springfield-ohio">conspiratorial claims about Haitian immigrants</a>.&#8221; 
&#8220;Trump often doesn&#8217;t react well when he's losing ground in the polls,&#8221; he said.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments.&nbsp;<a href="https://www.benzinga.com/gov-trades" target="_blank" rel="noreferrer noopener">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Image via Shutterstock

Media

Nate Silver Says 2024 Race Still Tossup Despite Kamala Harris' Post-Debate Bump: 'Our Elections Aren't Determined By...'

Huize Holding Limited, ("Huize", the "Company" or "we") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUIZ#NASDAQ">HUIZ</a>), a leading insurance technology platform connecting consumers, insurance carriers and distribution partners digitally through data-driven and AI-powered solutions in Asia, today announced that it has partnered with New China Life Insurance Company Limited ("NCI") to launch "Bliss No.2", a customized lifetime annuity product. This upgraded product is the latest addition to the "Bliss" series and is designed to meet the growing demand for diversified retirement solutions by providing flexible and stable financial planning, in response to China's gradual retirement age extension. &nbsp;

HUIZ

Huize Partners with New China Life to Launch Customized Lifetime Annuity for Retirement Planning

Piper Sandler analyst Brent Bracelin maintains HubSpot (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUBS#NYSE">HUBS</a>) with a Overweight and maintains $570 price target.

HUBS

Piper Sandler Maintains Overweight on HubSpot, Maintains $570 Price Target

Hut 8 Corp. ((Nasdaq, TSX:<a href="https://www.benzinga.com/stock/HUT#TSX">HUT</a>) ("Hut 8" or the "Company"), a leading, vertically integrated operator of large-scale energy infrastructure and one of North America's largest Bitcoin miners, today announced the expansion of its partnership with BITMAIN Technologies Ltd. ("BITMAIN"), the world's largest manufacturer of digital currency mining servers, with the launch of the U3S21EXPH, a next-generation ASIC miner. Hut 8 plans to deploy the model in Q2 2025 through a ~15 exahash per second ("EH/s") hosting agreement leveraging custom data center infrastructure developed in-house by Hut 8.
As part of its long-term, power-first strategy, Hut 8 continues to scale its compute layer across energy-intensive technologies, including both Bitcoin mining and AI compute, with the aim of maximizing returns on its portfolio of power assets and digital infrastructure. The launch and commercialization of the U3S21EXPH is a key milestone in executing this strategy in the Company's Bitcoin mining segment as it advances scaled opportunities in AI compute.
Revolutionizing ASIC Compute: U3S21EXPH
The U3S21EXPH will be the first ASIC miner mass-commercialized by BITMAIN to feature direct liquid-to-chip ("DLC") cooling within a U form factor. Capable of achieving up to 860 terahash at an efficiency of 13 joules per terahash, the model represents the culmination of an extensive miner-manufacturer partnership between Hut 8 and BITMAIN. Under the partnership, which spans technical and commercial innovation, Hut 8 supported BITMAIN in the development of the miner.
Key advancements:
<ul>
<li>Technology: Introduces DLC cooling technology used in high-performance computing ("HPC") data centers to a rack-ready form factor for Bitcoin mining</li>
<li>Engineering: Evolution from "shoebox" ASIC form factor incompatible with traditional data center rack architecture to "U" form factor compatible with HPC-style architecture that can be deployed at densities of up to ~180 kilowatts ("kW") per rack</li>
<li>Procurement: Strong overlap in secondary components with HPC data centers, including racks and cooling systems required for DLC technology, driving the opportunity for greater supply chain synchronization across Bitcoin mining and HPC data centers</li>
<li>Construction: Opportunity to apply construction expertise and capabilities across Bitcoin mining and HPC data centers</li>
</ul>
To fully harness the potential of the U3S21EXPH, Hut 8 has developed a custom design for Bitcoin mining data center infrastructure inspired by traditional rack-based architecture. This design will be leveraged to house the initial ~15 EH/s deployment at a density of up to ~180 kW per rack.

Hut 8 Expands Partnership with BITMAIN, Unveils Next-Gen Liquid-Cooled ASIC Miner for Bitcoin Mining

U.S. intelligence agencies have revealed that Iran attempted to share <a href="https://www.benzinga.com/news/24/08/40303972/trump-campaign-falls-victim-to-cyber-attack-heightening-election-security-fears">hacked information</a> from former President Donald Trump&#8216;s campaign with President Joe Biden&#8216;s campaign.
What Happened: The FBI and other intelligence agencies disclosed on Wednesday that Iran attempted to pass hacked Trump campaign information to the Biden campaign, <a href="https://thehill.com/national-security/4887579-iran-hack-biden-campaign/">reported</a> The Hill. 
"Iranian malicious cyber actors in late June and early July sent unsolicited emails to individuals then associated with President Biden's campaign that contained an excerpt taken from stolen, non-public material from former President Trump's campaign as text in the emails," the FBI, the Office of the Director of National Intelligence (ODNI,) and the Cybersecurity and Infrastructure Security Agency (CISA) said in a joint statement.
These emails contained excerpts from stolen, non-public Trump campaign material.
The agencies confirmed that there is no evidence indicating that the recipients responded to these emails. Vice President Kamala Harris&#8216; campaign condemned the sharing of Trump campaign data, stating that the phishing emails sent by Iran were ignored.
Harris-Walz campaign spokesperson Morgan Finkelstein stated, &#8220;We have cooperated with the appropriate law enforcement authorities since we were made aware that individuals associated with the then-Biden campaign were among the intended victims of this foreign influence operation.&#8221;
The Trump campaign implied that their opponents may have utilized the information, with campaign spokeswoman Karoline Leavitt calling on Harris and Biden to clarify if they had made use of the hacked material.
See Also: <a href="https://www.benzinga.com/news/24/09/40892040/starbucks-north-america-ceo-michael-conway-quits-after-just-6-months-in-the-position?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Starbucks North America CEO Michael Conway Quits After Just 6 Months In The Position</a>
The ODNI and FBI&#8217;s statement emphasized that there is no evidence of any response from the Biden campaign to the Iranian emails.
Iran has denied involvement in the hacking, stating that it does not engage in U.S. electoral controversies. Ali Karimi Magham, spokesman for the Iranian Mission to the United Nations, called for the U.S. to provide substantiated evidence of the accusations.
Why It Matters: The revelation of Iran&#8217;s <a href="https://www.benzinga.com/news/24/09/40824527/iran-says-sanction-addicts-us-and-uk-are-acting-on-faulty-intelligence-regarding-russias-missile-sup">attempts to interfere in the U.S. elections</a> comes amid heightened tensions between Iran and Western nations. Recently, Iran has been accused of supplying missiles to Russia for the Ukraine conflict, which it has vehemently denied, calling the allegations based on &#8220;faulty intelligence.&#8221; 
Additionally, Meta Platforms Inc. recently thwarted an <a href="https://www.benzinga.com/news/24/08/40541547/heres-how-meta-thwarted-iranian-hackers-attempt-to-target-trump-and-biden">Iranian hacking attempt targeting key figures</a> linked to both President Biden and former President Trump. The hackers, identified as APT42, were blocked from using WhatsApp accounts to carry out their operations.
Moreover, OpenAI uncovered and dismantled an <a href="https://www.benzinga.com/news/24/08/40428036/openai-blocks-iranian-groups-chatgpt-accounts-for-targeting-us-election-says-covert-operation-did-no">Iranian influence operation</a> using ChatGPT to manipulate public opinion during the 2024 elections. The operation, named Storm-2035, aimed to spread disinformation through social media and fake news outlets.
This incident also follows a Russian disinformation campaign that falsely accused Harris of a <a href="https://www.benzinga.com/news/24/09/40915084/kremlin-aligned-group-behind-false-hit-and-run-allegations-against-kamala-harris-microsoft-says">hit-and-run incident</a>, further highlighting the ongoing foreign efforts to influence U.S. politics.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40913998/jamie-dimon-says-jpmorgan-is-likely-one-of-the-bigger-users-of-blockchain-technology-but-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jamie Dimon Says JPMorgan Is Likely &#8216;One Of The Bigger Users&#8217; Of Blockchain Technology, But Calls Cryptocurrencies A &#8216;Pet Rock&#8217;</a></li>
</ul>
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>

US Intel Agencies Reveal Iran Tried To Share Hacked Trump Campaign Data With Team Biden: FBI Says No Evidence Yet Of A Response From President's Campaign

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RPGRF

China Literature

<h4>Key Takeaways:</h4>

<ul>
	<li>Huya is looking to use the APKpure acquisition to better promote and distribute games internationally&nbsp;</li>
	<li>Tencent is eager to divest non-core businesses as the Chinese government continues to tighten gaming regulations</li>
</ul>

By&nbsp;Li Shi Ta

First an animation platform, now an app store.&nbsp;Tencent Holdings Ltd.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>)&nbsp;has been doing some end-of-year decluttering.

The tech titan sold Tencent Animation to&nbsp;China Literature Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CHLLF#OTC">CHLLF</a>)&nbsp;two weeks ago. And on Dec. 22, the livestream gaming company&nbsp;Huya Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUYA#NYSE">HUYA</a>) revealed in a U.S. securities&nbsp;<a href="https://www.sec.gov/Archives/edgar/data/1728190/000110465923128568/tm2333598d1_6k.htm">filing</a>&nbsp;that it had bought a&nbsp;global provider of mobile app services from Tencent for an initial price tag of $81 million (580 million yuan).

Huya did not name the acquired company, but media outlets reported that Tencent&rsquo;s overseas app store, APKpure, was the business in question.

With the purchase, Huya is looking to boost its ability to promote and distribute international gaming apps, as well as fostering&nbsp;synergy with its own overseas livestream gaming platform, NimoTV. Investors welcomed the APKpure acquisition as a positive strategy move, sending Huya&rsquo;s stock price around 4% higher on Dec. 26.&nbsp;

APKpure, bought by Tencent in 2021 from another Internet company, is an international app store specializing in providing the most complete versions of various apps, games and programs.

Both China Literature and Huya can use their new assets to drive their existing businesses. Meanwhile, Tencent is intent on splitting off peripheral parts of its sprawling tech empire as the Chinese authorities tighten the screws on the gaming sector.&nbsp;

<h3>Policy Straitjacket&nbsp;</h3>

The government has rolled out a series of measures to limit minors&rsquo; exposure to internet gaming. In the latest move, regulators published a set of draft rules on Dec. 22 designed to restrict rewards and incentives for gamers. The document from the National Press and Publication Administration outlined curbs on inducements for daily sign-ins and in-game purchases, as well as a crackdown on reward schemes such as auctions of virtual gaming props.

After the proposed rules were unveiled, shares in gaming company&nbsp;NetEase&nbsp;(9999.HK)&nbsp;plunged 24.6% and Tencent&rsquo;s stock shed more than 12.4%. The two giants had a combined HK$504.5 billion wiped off their market value.

With the gaming sector in turmoil, state broadcaster CCTV said on Dec. 23 that the authorities had decided to review the proposals in light of stakeholders&rsquo; concerns and were open to tweaking the measures. Market watchers speculated that the regulators might revise caps on the amount of in-game purchasing and the permitted number of logged-in hours.&nbsp;

Whatever the outcome, Tencent is determined to trim the fat. Tencent President Martin Lau said last month the company would focus on activities with high growth potential and would downsize low-margin businesses. The company has also been working in recent years on cutting costs and boosting efficiency.

<h3>A Business Clear-Out&nbsp;</h3>

Tencent has been shutting down various non-core operations since last year. And market data shows it has made new investments in only 35 companies since the start of 2023, the lowest number in nearly a decade.&nbsp;

Among the discontinued services and products over the past two years are Tencent Todo, the audio platform Penguin FM, Tencent&rsquo;s e-commerce QQ Store, the livestream platform Penguin Gaming and the news product Kandian Kuaibao. The social media platform NOW livestreaming also went offline at the end of the month, with its users moving to Huya.

Meanwhile, Huya has been looking for new growth engines as the frenzy for livestream gaming fades. The company&rsquo;s&nbsp;<a href="https://www.prnewswire.com/news-releases/huya-inc-reports-third-quarter-2023-unaudited-financial-results-301987264.html">latest results</a>&nbsp;show revenues fell 30.7% to 1.65 billion yuan in the third quarter from the year-earlier period and slipped 10% from 1.82 billion yuan in the preceding quarter. Revenues have been falling for eight consecutive quarters since the final quarter of 2021.&nbsp;

More than 90% of Huya&rsquo;s revenue comes from livestreaming, which has been under sustained regulatory pressure. Livestreaming income in the third quarter of 2023 was 1.53 billion yuan, down 24% from the same period last year, while the number of paying users in the quarter fell from 5.5 million&nbsp;to 4.2 million.&nbsp;

And the woes keep piling up. A highly popular Huya anchor who live-streamed the game&nbsp;Honor of Kings, Zhang Daxian, defected to the rival livestreaming platform Douyin. His first Douyin livestream on Dec. 2 attracted more than 60 million viewers. The loss of market-leading anchors has cost the platform many users.&nbsp;

<h3>Seeking Game Changers</h3>

Huya has been looking to develop less controversial gaming-related services to bolster its growth prospects. These include gaming distribution, gaming prop sales, in-gaming advertising and other operations that face less regulatory pressure. The acquisition of APKpure fits into this strategic context.

Tencent is a major Huya shareholder, holding 46.7% of its shares and 70.3% of the voting rights at the end of March 2023. Six months ago, Tencent Vice President Lin Songtao replaced Huang Lingdong as Huya&rsquo;s chairman. And three months ago, Dong Rongjie, who led Huya&rsquo;s IPO, stepped down as chief executive to be succeeded by senior VP Huang Junhao and financial VP Wu Xin as co-CEOs.&nbsp;

Notably, Lin headed many of Tencent&rsquo;s key projects such as the instant messaging app QQ, QZone, Open Platform and the software management app Yingyongbao. Even as Huya&rsquo;s chairman, he will continue to hold Tencent positions and oversee the Yingyongbao project.&nbsp;

Lin has described Huya as being on a three-year mission to boost gaming-related services as a proportion of revenue, seeking to build a more balanced income structure for long-term growth.

Falling revenue is a common problem among livestream gaming companies, and over-reliance on a single revenue source could harm future prospects.

Facing fierce competition from Douyin and&nbsp;Bilibili&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BILI#NASDAQ">BILI</a>), Huya&nbsp;badly needs new growth drivers after losing top anchors. The latest deal may be just a fat-trimming exercise for Tencent, but for Huya it could prove to be more of a game changer.

This article is from an external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

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