Latest News for CFN Enterprises Stock (OTC:CNFN)

CFN Enterprises Inc is a creative agency and media network dedicated to the legal cannabis industry. Its CFN Business generates revenue through sponsored content, articles, press releases, videos, podcasts, advertisements, and other media, email advertisements, and other marketing campaigns run on behalf of public and private companies in the cannabis industry. The Company operates under one reporting segment.

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CBD has become one of the fastest-growing wellness products globally, reaching more than $11 billion in global sales last year. According to Market Data Forecast, these sales will continue to grow at a 22.2% annual pace to nearly $31 billion by 2026.

NutraLife Accelerates Expansion Into Rapidly Growing $11B CBD Industry

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Crypto trader Kevin has suggested that Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) could be on the brink of outperforming the S&amp;P 500.
What Happened: On Thursday, Kevin, a well-known crypto trader, took to social media platform X to share an intriguing insight. He pointed out that the chart for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) versus the S&amp;P 500 is showing signs of consolidation just below all-time highs. This, he suggested, could indicate a potential outperformance of Bitcoin against the stock market.
&#8220;#BTC vs #SPX (S&amp;P500) on the inverted chart looks very interesting here consolidation right below all time highs. We might be on the verge of a #BTC outperformance against the #StockMarket,&#8221; Kevin wrote.<a href="https://twitter.com/Kev_Capital_TA/status/1783543419253543287/photo/1"></a>
Kevin&#8217;s post was accompanied by a chart that illustrated the BTC/SPX relationship, suggesting that a significant shift might be imminent. The crypto trader is formerly known as OG_Yomi on X. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> vs <a href="https://twitter.com/hashtag/SPX?src=hash&amp;ref_src=twsrc%5Etfw">#SPX</a> (S&amp;P500) on the inverted chart looks very interesting here consolidation right below all time highs. We might be on the verge of a <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> outperformance against the <a href="https://twitter.com/hashtag/StockMarket?src=hash&amp;ref_src=twsrc%5Etfw">#StockMarket</a>. <a href="https://t.co/n6lxfiIFAi">pic.twitter.com/n6lxfiIFAi</a>
&mdash; Kevin (@Kev_Capital_TA) <a href="https://twitter.com/Kev_Capital_TA/status/1783543419253543287?ref_src=twsrc%5Etfw">April 25, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38377888/holding-6-ethereum-eth-could-make-you-a-millionaire-according-to-cathie-wood?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Holding 6 Ethereum (ETH) Could Make You A Millionaire, According to Cathie Wood</a>
Why It Matters: The recent market movements have been a topic of concern for many investors. Just a day before Kevin&#8217;s post, Bitcoin witnessed a significant technical indicator, prompting a <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38450026/bitcoin-sell-signal-on-12-hour-chart-sparks-concerns-analyst-warns-exercise-caution-given-">sell-off signal</a> on its 12-hour chart. This development raised concerns among traders and investors.
Despite these challenges, some traders are optimistic about Bitcoin&#8217;s future. Pseudonymous cryptocurrency trader Tim argues that Bitcoin&#8217;s <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38442912/bitcoins-consolidation-phase-best-met-with-zoom-out-perspective-patience-approach-says-tra">current consolidation phase is &#8220;healthy&#8221;</a> and anticipates the next leg up.
Bitcoin has been facing a series of challenges, including falling below the key $64,000 level following <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38431809/bitcoin-falls-below-64-000-following-gdp-jobless-claims-data-nervos-network-becomes-top-lo">GDP and jobless claims data</a>. Despite these challenges, the cryptocurrency has shown resilience and is currently consolidating just below its all-time high.
Renowned economist and cryptocurrency skeptic, Peter Schiff, <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38421343/peter-schiff-warns-bitcoin-hodlers-its-a-long-way-down-if-king-crypto-cant-hold-60k">warned Bitcoin holders</a> of a potential drop if the coin fails to hold the $60,000 support level.
Price Action: Bitcoin is currently trading at $64,251, reflecting a marginal decline of 0.36% over the past 24 hours. However, the cryptocurrency has surged by an impressive 45.46% year-to-date, based on data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38395178/dogecoin-could-outperform-bitcoin-thanks-to-consolidation-in-the-golden-pocket-says-trader?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Could Outperform Bitcoin Thanks To Consolidation In The Golden Pocket, Says Trader: &#8216;This Is A Very Good Sign&#8217;</a>
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Global

$BTC

Bitcoin Could Outperform S&P 500, Says Crypto Analyst: 'The Inverted Chart Looks Very Interesting'

U.S. Treasury Secretary, Janet Yellen, expressed confidence in the U.S. economy, predicting inflation to return to normal levels by 2024. She also discussed potential strategies to counter threats from China&#8217;s excess industrial capacity.
What Happened: In an interview on Thursday, Yellen stated that the U.S. economic growth might be stronger than the weaker-than-expected data on first-quarter output suggests, Reuters reported. She also mentioned that the Biden administration is keeping all options open to respond to threats from China&#8217;s excess industrial capacity.
Yellen downplayed the recent surge in inflation, stating that it does not indicate a need for unemployment to increase or other areas of the economy to cool down. 
&#8220;The U.S. economy continues to perform very, very well,&#8221; she said.
&#8220;The fundamentals here are in line with inflation continuing back down to normal levels.&#8221;
See Also: <a href="https://www.benzinga.com/news/earnings/24/04/38399089/nasdaq-futures-get-a-lift-from-tesla-texas-instruments-earnings-analyst-points-to-key-catalyst-for-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nasdaq, S&amp;P 500 To Open Higher After Tesla, TI Earnings: What&#8217;s Driving Stock Futures?</a>
On the topic of China&#8217;s overcapacity, Yellen stated that no option was &#8220;off the table&#8221; for dealing with this threat to the U.S. economy. She emphasized that it is crucial for China to recognize the concern and begin to act to address it.
Why It Matters: The U.S. economy&#8217;s performance and inflation rates have significant implications on consumer spending, investment spending, and overall economic health.
The U.S. economy <a href="https://www.benzinga.com/economics/macro-economic-events/24/04/38429782/us-economy-grows-1-6-in-q1-slightly-below-expectations-as-price-pressures-weigh-o">grew at a slower pace</a> than expected in the first quarter of the year, with an annualized growth rate of 1.6%. This slowdown was accompanied by <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38434513/us-growth-slows-in-q1-yet-inflation-acceleration-signals-stagflation-the-worst-poss">an increase in price pressures,</a> indicating a potential stagflation scenario.
Yellen&#8217;s concerns about China&#8217;s industrial overcapacity are not new. She earlier <a href="https://www.benzinga.com/news/24/04/38146989/treasury-secretary-janet-yellen-sees-flood-of-chinese-exports-wiping-out-us-green-energy-industry">expressed worry about Chinese industrial policies </a>leading to a flood of cheap clean-energy product exports, potentially wiping out important US industries.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38381361/us-private-sector-growth-unexpectedly-slows-in-april-marks-lowest-increase-in-4-mon?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Private Sector Growth Unexpectedly Slows In April, Marks Lowest Increase In 4 Months: &#8216;Drivers Of Inflation Have Changed&#8217;</a>
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Macro Economic Events

Economics

General

Janet Yellen Sees Inflation Normalizing This Year But Doesn't Take Eye Off China's Industrial 'Overcapacity'

The Federal Trade Commission or FTC has accused top executives at&nbsp;Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) including founder Jeff Bezos and CEO Andy Jassy of deleting text messages that could have been used as evidence in the <a href="https://www.benzinga.com/government/23/07/33430801/ftc-v-amazon-all-you-need-to-know-about-the-upcoming-high-profile-antitrust-lawsuit">ongoing antitrust investigation</a>.
What Happened: In a court filing on Thursday, FTC alleged that Bezos and Jassy used the encrypted messaging platform Signal to communicate between&nbsp;April 2019 and May 2022. The messages were set to disappear, effectively erasing potential evidence for the FTC&#8217;s antitrust case against Amazon, the agency said, <a href="https://www.bloomberg.com/news/articles/2024-04-26/amazon-s-bezos-jassy-deleted-chats-despite-ftc-antitrust-probe?srnd=technology-vp">reported</a>&nbsp;Bloomberg. 
Other executives who communicated via&nbsp;Signal include&nbsp;David Zapolsky, Amazon&#8217;s top lawyer;&nbsp;Jeff Wilke, Amazon&#8217;s&nbsp;retail czar until 2021; and&nbsp;Dave Clark, a&nbsp;logistics executive who left in&nbsp;2022 after Bezos handed the&nbsp;reins to Jassy.
See Also:&nbsp;<a href="https://www.benzinga.com/general/entertainment/24/04/38397316/elon-musk-says-morgan-freeman-is-awesome-after-american-actor-says-hes-a-huge-fan-of-tesla-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Morgan Freeman Is &#8216;Awesome&#8217; After American Actor Says He&#8217;s A Huge Fan Of Tesla CEO: &#8216;What He&#8217;s Done, Nobody Else Has Ever Done&#8217;</a>
The FTC&#8217;s court filing builds on allegations&nbsp;made in its antitrust complaint&nbsp;against Amazon last fall. The filing seeks information about Amazon&#8217;s instructions to employees regarding the use of Signal and the retention of messages.
Amazon&#8217;s spokesman&nbsp;Tim Doyle&nbsp;refuted the FTC&#8217;s claims, stating that the company had voluntarily disclosed its limited use of Signal to the FTC years ago and had&nbsp;thoroughly collected Signal conversations from&nbsp;employees&#8217; phones.
&#8220;The FTC's contentions are baseless,&#8221; Doyle said, adding, &#8220;Amazon voluntarily disclosed employees' limited Signal use to the FTC years ago, thoroughly collected Signal conversations from its employees' phones, and allowed agency staff to inspect those conversations even when they had nothing to do with the FTC's investigation.&#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.
Why It Matters: Executives turned to the encrypted messaging platform following Bezos&#8217; revelation in 2019 that his phone had been compromised, and he accused the National Enquirer of attempting to expose his private photos and messages. 
The court filing requests details on how Amazon executives instructed staff regarding the use of Signal for communication and guidelines for message retention. The FTC&#8217;s inquiry into Amazon, initiated in 2019, mandated the company to preserve and provide documents. 
However, the agency stated that executives impeded the FTC&#8217;s investigation into Amazon&#8217;s business practices and potential antitrust breaches by using Signal&#8217;s feature for vanishing messages.
Last year, in November last year, the FTC accused Amazon of <a href="https://www.benzinga.com/news/23/11/35606062/amazon-accused-of-raking-in-1-billion-through-deceptive-practices-according-to-ftc-suit">engaging in deceptive practices</a> that increased consumer prices by over a billion dollars. This was followed by the FTC&#8217;s revelation of a <a href="https://www.benzinga.com/news/23/10/35068969/ftc-exposes-amazons-hidden-algorithm-amid-antitrust-concerns">secret algorithm</a> used by Amazon to manipulate prices, which was included in the FTC&#8217;s monopoly lawsuit against the e-commerce giant.
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Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/04/38349837/elon-musk-agrees-every-american-household-will-have-a-1-000-per-month-home-robot-in-7-years-time?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Agrees Every American Household Will Have A $1,000-Per-Month Home Robot In 7 Years&#8217; Time</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Legal

Tech

Media

AMZN

Jeff Bezos And Amazon CEO Andy Jassy Accused Of Deleting Chats Amid Antitrust Probe: 'The FTC's Contentions Are Baseless'

Sawyer Merritt, a prominent Tesla investor, recently emphasized the electric vehicle giant&#8217;s unparalleled data collection prowess, citing the staggering mileage covered by Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) owners.
What Happened: During CNBC&#8217;s &#8220;Last Call&#8221; on Thursday, Merritt highlighted that Tesla owners are now driving approximately 1 billion miles every 68 days using Full-Self Driving (FSD). This, he said, was roughly 250% increase than what the number was three months ago.
He posed a rhetorical question, &#8220;How can any automaker catch up to Tesla in terms of data gathering?&#8221; 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"Tesla owners are now driving roughly 1 billion miles every 68 days," says Tesla investor <a href="https://twitter.com/SawyerMerritt?ref_src=twsrc%5Etfw">@SawyerMerritt</a> on whether or not <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> has reached its bottom. "How can any automaker catch up to Tesla in terms of data gathering?" <a href="https://t.co/PtOvSDIHLt">pic.twitter.com/PtOvSDIHLt</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1783648512640471132?ref_src=twsrc%5Etfw">April 26, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/general/education/24/04/38388530/heres-how-much-warren-buffett-could-have-made-investing-in-tesla?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Here&#8217;s How Much Warren Buffett Could Have Made Investing In Tesla</a>
Why It Matters: Merritt&#8217;s comments come in the wake of <a href="https://www.benzinga.com/news/earnings/24/04/38390883/tesla-q1-earnings-highlights-ev-giant-misses-wall-street-estimates-makes-cost-cuts-invests-in-ai-sp">Tesla reporting a 9% year-on-year decrease</a> in Q1 revenue, which fell short of Wall Street&#8217;s estimates. Despite this, the company&#8217;s stock experienced a significant <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38415577/tesla-posts-strongest-session-since-january-2022-is-a-trend-reversal-underway">12% increase on Wednesday,</a> marking its strongest session since January 2022. This surge occurred despite the earnings miss, with investors seemingly encouraged by Tesla&#8217;s commitment to launching more affordable models and expanding its market reach.
Adding to the positive sentiment, Tesla received an <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38441703/billionaire-ron-baron-calls-the-bottom-in-tesla-stock-says-shares-will-go-up-huge-from-h">important endorsement from Bank of America</a>, which upgraded its rating on the stock from Neutral to Buy. Analyst John Murphy highlighted Tesla&#8217;s ability to address recent challenges effectively. Furthermore, billionaire investor Ron Baron believes Tesla&#8217;s stock has fallen far enough and is now set to rise significantly from current levels.
Price Action: As of Thursday, Tesla&#8217;s stock closed at $170.18, marking a 4.97% change from the previous close. 
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38399275/no-choice-elon-musk-reacts-as-x-user-reveals-main-reason-why-the-billionaire-is-re-organizing-te?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;No Choice:&#8217; Elon Musk Reacts As X User Reveals &#8216;Main Reason&#8217; Why The Billionaire Is &#8216;Re-Organizing&#8217; Tesla</a>
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Analyst Color

Equities

TSLA

Tesla Investor Touts EV Giant's Billions-Mile Leap In Gathering Self-Driving Data: 'How Can Any Automaker Catch Up?'

The recent announcement of a dividend by Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) during its <a 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">first-quarter earnings</a> has brought renewed attention to a warning from Peter Thiel, co-founder of PayPal Holdings Inc, about the future of the tech giant.
What Happened: Thiel, a prominent figure in the tech industry, had expressed concerns about the future of Google, now a subsidiary of Alphabet, back in 2012. He suggested that the company&#8217;s lack of technological innovation could lead to significant issues.
Thiel, speaking at an Aspen, Colorado event sponsored by Fortune magazine, said, &#8220;…Google is no longer a technology company, it&#8217;s basically a search engine. The search technology was developed a decade ago. It&#8217;s a bet that there will be no one else who will come up with a better search technology.&#8221;
&#8220;So, you invest in Google, because you&#8217;re betting against technological innovation in search. And it&#8217;s like a bank that generates enormous cash flows every year, but you can&#8217;t issue a dividend, because the day you take that $30 billion and send it back to people you&#8217;re admitting that you&#8217;re no longer a technology company,&#8221; Thiel added.
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Notably, Thiel conveyed to former Google CEO Eric Schmidt that the company lacked direction in its investment decisions.
See Also: <a href="https://www.benzinga.com/news/earnings/24/04/38390883/tesla-q1-earnings-highlights-ev-giant-misses-wall-street-estimates-makes-cost-cuts-invests-in-ai-sp?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Q1 Earnings Highlights: EV Giant Misses Wall Street Estimates, Makes Cost Cuts, Invests In AI, Spee</a>
Why It Matters: Despite Thiel&#8217;s concerns, Alphabet has been showing strong financial performance. During the <a 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">first quarter of 2024</a>, the company reported a 15% year-over-year increase in revenue, totaling $80.539 billion, and a quarterly earnings of $1.89 per share, beating analyst estimates. This marked the fifth consecutive quarter in which Alphabet surpassed analyst expectations on both the top and bottom lines.
Alphabet&#8217;s CEO, Sundar Pichai, has projected a combined revenue of $100 billion from the company&#8217;s YouTube and Cloud businesses by 2024, indicating a 25% growth rate for each of the next three quarters. Pichai&#8217;s forecast suggests that Alphabet is entering a new growth phase, <a href="https://www.benzinga.com/news/earnings/24/04/38450406/gene-munster-applauds-sundar-pichais-100b-revenue-projection-for-google-parent-alphabet-a-sign-of-e">as noted by</a> Gene Munster of Deepwater Asset Management.
Furthermore, Pichai has expressed confidence in Alphabet&#8217;s ability to manage the costs associated with the new search experience, including generative answers. 
This confidence is supported by the company&#8217;s strong financial performance and its commitment to AI, as evidenced by <a href="https://www.benzinga.com/news/earnings/24/04/38450926/alphabet-cfo-underscores-googles-12b-capex-surge-reflects-our-confidence-in-the-opportunities-offer">a $12 billion capital expenditure</a> announced during the first-quarter earnings call.
Price Action: Alphabet&#8217;s Class A stock rose 11.56% to $174.04, while Class C stock rose 11.43% in after-hours trading to $176.23, according to data from&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>&nbsp;at the time of writing
Read Next: <a href="https://www.benzinga.com/news/24/04/38424795/amazon-pauses-green-card-sponsorship-for-foreign-workers-in-2024-amid-layoffs-report?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amazon Pauses Green Card Sponsorship For Foreign Workers In 2024 Amid Layoffs: Report</a>
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Earnings

GOOG

GOOGL

Google Parent Alphabet's Debut Dividend Sparks Reflection On PayPal Co-Founder Peter Thiel's 2012 Warning: 'You're Admitting That You're No Longer A Technology Company'

Microsoft Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) CEO&nbsp;Satya Nadella&nbsp;on Thursday announced the company&#8217;s record-breaking <a href="https://www.benzinga.com/general/gaming/24/04/38049341/microsoft-reportedly-working-on-bringing-ai-chatbot-to-xbox-to-enhance-gaming-experience">gaming performance</a> and its expansion to&nbsp;Nintendo Co., Ltd&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/NTDOY#OTC">NTDOY</a>) Switch and&nbsp;Sony Group Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) PlayStation.
What Happened: On Thursday, <a href="https://www.benzinga.com/news/earnings/24/04/38444199/microsoft-q3-earnings-revenue-beat-eps-beat-new-era-of-ai-transformation-and-more">during the third-quarter earnings call</a>, Nadella revealed that Microsoft had set new&nbsp;records for game streaming hours,&nbsp;console usage, and monthly active&nbsp;devices. 
The CEO also highlighted the successful addition of&nbsp;Diablo 4, the first&nbsp;Activision Blizzard, title to the&nbsp;Game Pass service. &#8220;Subscribers played over 10 million hours within the first 10 days, making it one of our biggest first-party Game Pass launches ever,&#8221; he said. 
See Also:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/04/38345502/elon-musk-reacts-after-nvidia-stock-plunges-10-and-erases-212b-market-cap-rookie-numbers?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts After Nvidia Stock Plunges 10% And Erases $212B Market Cap: &#8216;Rookie Numbers&#8217;</a>
He then went on to speak about the ongoing success of&nbsp;Call of Duty: Modern Warfare&nbsp;3, saying, the game has been attracting new gamers and retaining&nbsp;franchise loyalists.
Nadella also informed that Microsoft is expanding its&nbsp;games to new platforms. &#8220;Finally, we are expanding our games to new platforms, bringing four of our fan-favorite titles to Nintendo Switch and Sony PlayStation for the first time. In fact, earlier this month, we had seven games among the top 25 on the PlayStation store more than any other publisher,&#8221; he stated. 
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Why It Matters: Microsoft&#8217;s gaming division has been a significant driver of its overall growth. The company&#8217;s third-quarter revenue increased 17% year-over-year to $61.9 billion, beating the consensus estimate of $60.804 billion. Microsoft has now beaten analyst estimates on both the top and bottom lines in five consecutive quarters, according to&nbsp;<a href="https://benzinga.grsm.io/gxjhpowx7zks" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>. 
The company also exceeded analyst expectations by posting quarterly earnings of $2.94 per share, compared to the forecasted $2.82 per share.
This success comes on the heels of Microsoft&#8217;s acquisition of Activision Blizzard. Nadella had previously expressed enthusiasm for the acquisition, emphasizing the <a href="https://www.benzinga.com/general/gaming/24/01/36682941/microsofts-satya-nadella-activision-gives-us-a-chance-of-being-a-good-publisher-on-sony-nintendo">opportunity to become a &#8220;good publisher&#8221;</a> across various platforms, including rival consoles like Sony and Nintendo. 
Earlier this month, six months after the acquisition,&nbsp;<a href="https://www.benzinga.com/general/gaming/24/04/38342845/can-blizzard-keep-its-autonomy-post-microsoft-acquisition-no-one-asking-us-to-do-anything-says-wor">Blizzard executives revealed</a>&nbsp;that Microsoft had largely allowed Blizzard to maintain its autonomy.
MSFT Price Action: <a href="https://www.benzinga.com/quote/MSFT" target="_blank" rel="noreferrer noopener">Microsoft shares</a> were up 4.31% after hours at $416.25 at the time of publication, according to Benzinga Pro.
Photo by WEF on Flickr
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/04/38351566/mark-zuckerberg-didnt-sell-facebook-for-1b-but-would-he-have-sold-for-5t-this-was-meta-ceos-thought?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Didn&#8217;t Sell Facebook For $1B But Would He Have Sold For $5T? This Was Meta CEO&#8217;s Thought Process</a>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Gaming

ATVI

MSFT

NTDOY

Sony Group Corporation American Depositary Shares

SONY

Microsoft CEO Satya Nadella Highlights Record-Breaking Gaming Performance, Expansion To Nintendo Switch, Sony PlayStation

In the recent earnings call, 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>) announced a significant increase in its capital expenditure, reflecting the company&#8217;s strong <a 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">financial performance and its commitment to AI</a>.
What Happened: Alphabet&#8217;s CFO Ruth Porat revealed a $12 billion capital expenditure during the company&#8217;s first-quarter earnings call. This substantial investment signifies the company&#8217;s confidence in the potential of AI across its business.
&#8220;Our reported capex in the first quarter was $12 billion, once again driven overwhelmingly by investment in our technical infrastructure with the largest component for servers followed by data centers. The significant year-on-year growth in capex in recent quarters reflects our confidence in the opportunities offered by AI across our business,&#8221; Porat said.
The earnings call also highlighted the company&#8217;s financial results for the first quarter. The consolidated revenues stood at $80.5 billion, marking a 15% increase year-over-year. The growth was primarily driven by the strength in search and cloud services.
Porat also underscored the impact of restructuring charges and employee severance on the total expenses. The company&#8217;s operating income saw a significant rise, reaching $25.5 billion, a 46% increase from the previous year.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38376705/doge-shiba-and-other-memecoins-fueling-mass-adoption-of-bases-l2-network-coinbase-e?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin, Shiba Inu And Other Memecoins Fueling Mass Adoption Of Base&#8217;s L2 Network, Coinbase Exec Says: &#8216;They Are Going To Be One Of The Biggest Drivers&#8217;</a>
Within the Google Services segment, revenues reached $70.4 billion, with Google Search and other advertising revenues contributing $46.2 billion. YouTube advertising revenues also saw a substantial increase, reaching $8.1 billion.
The Google Cloud segment reported revenues of $9.6 billion, marking a 28% increase. The Other Bets segment saw revenues of $495 million, with an operating loss of $1 billion.
Why It Matters: The first-quarter earnings call reflects Alphabet&#8217;s strong financial performance and its strategic focus on AI. The company&#8217;s CEO, Sundar Pichai, had earlier <a href="https://www.benzinga.com/news/earnings/24/04/38450406/gene-munster-applauds-sundar-pichais-100b-revenue-projection-for-google-parent-alphabet-a-sign-of-e">projected a combined revenue</a> of $100 billion from its YouTube and Cloud businesses by 2024, indicating a new growth phase for the company.
Moreover, Pichai has expressed confidence in the company&#8217;s ability to manage the costs associated with the <a href="https://www.benzinga.com/news/24/04/38450393/alphabet-ceo-very-very-confident-that-it-wont-be-costly-to-serve-search-experience-with-generative-a">new search experience</a>, including generative answers. This indicates Alphabet&#8217;s commitment to innovation and its readiness to capitalize on the potential of AI.
Price Action: Alphabet's Class A stock rose 11.56% to $174.04, while Class C stock rose 11.43% in after-hours trading to $176.23, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> at the time of writing
Read Next: <a href="https://www.benzinga.com/news/24/04/38392548/ups-earnings-show-the-weight-of-170-000-salaries-while-it-learns-to-navigate-shipping-slump?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">UPS Earnings Show The Weight Of $170,000 Compensation While It Learns To Navigate Shipping Slump</a>
Image Via Shutterstock
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Large Cap

Alphabet CFO Underscores Google's $12B Capex Surge: 'Reflects Our Confidence In The Opportunities Offered By AI'

Econ #s

BBJP

WisdomTree Trust Japan Total Dividend Fund

Reported Earlier, Japan Tokyo Core Consumer Price Index (YoY) For April 1.6% Vs. 2.2% Est.; 2.4% Prior

Reported Earlier, Japan Interest Rate Decision Unchanged At 0.10%

Reported Earlier, Australia Producer Price Index (YoY) 4.3% Vs. 4.1% Prior

Reported Earlier, Australia Producer Price Index (QoQ) 0.9% Vs. 0.9% Prior

Microsoft Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) CEO&nbsp;Satya Nadella&nbsp;addressed concerns about the demand environment for the company&#8217;s Azure cloud services during the <a href="https://www.benzinga.com/news/earnings/24/04/38444199/microsoft-q3-earnings-revenue-beat-eps-beat-new-era-of-ai-transformation-and-more">third-quarter earnings call</a>.
What Happened: During the call on Thursday, Nadella spoke about the <a href="https://www.benzinga.com/news/23/10/35333934/analysts-are-bullish-on-microsofts-azure-and-ai-growth-ahead-of-q1-earnings-heres-why">strong demand for Azure</a>, particularly in the field of artificial intelligence (AI). He noted that Azure has become a go-to platform for AI projects, which has significantly contributed to acquiring new customers. 
He highlighted three trends Microsoft is observing in Azure from the demand perspective. &#8220;Some of the logos I even referenced in my remarks, our new Azure customers. So, that&#8217;s one. The second thing that we&#8217;re also seeing is AI just doesn&#8217;t sit on its own. So, AI projects obviously start with calls to AI models, but they also use a vector database.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/04/38400945/metas-massive-1b-bet-on-nvidia-h100-gpu-cluster-will-dwarf-every-other-companys-target-but-zuckerber?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meta&#8217;s Massive $1B Bet On Nvidia H100 GPU Cluster Will Dwarf Every Other Company&#8217;s Target, But Zuckerberg Reveals Original Goal Was This, Not AI</a>
He then spoke about the growth of adjacent services in Azure. &#8220;Azure Search, which is really used by even ChatGPT is one of the fastest-growing services for us. We have Fabric integration to Azure AI. And so, Cosmos DB integration. So, the data tier, the dev tools is another place where we are seeing great traction,&#8221; he said. 
Nadella also mentioned the increasing migration to Azure and the continuous optimization cycle, which involves customers spending money on new projects, leading to &#8220;continuous&#8221; growth.
Microsoft&#8217;s third-quarter revenue increased by 17% year-over-year to $61.9 billion, beating the consensus estimate of $60.804 billion. The tech giant reported quarterly earnings of $2.94 per share, which also beat analyst estimates,&nbsp;according to the data from&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: In February 2024, it was reported that Microsoft&#8217;s Azure cloud infrastructure was <a href="https://www.benzinga.com/news/24/02/37074492/microsofts-azure-gains-ground-on-amazons-aws">rapidly narrowing the gap</a> with&nbsp;Amazon Web Services&nbsp;(AWS), the leading cloud service provider. 
Analysts estimated that Azure, which has grown from half the size of AWS five years ago to approximately three-quarters of its size today, does not explicitly report revenue
In January this year, analysts predicted that <a href="https://www.benzinga.com/news/24/01/36790599/microsoft-azures-soaring-growth-and-ai-innovations-signal-a-bright-future-for-investors-analysts">Azure&#8217;s growth could accelerate</a> slightly to 29%-30% year-on-year, with a clear revenue path to $95 billion within two years. 
MSFT Price Action: At the time of writing, <a href="https://www.benzinga.com/quote/MSFT" target="_blank" rel="noreferrer noopener">Microsoft shares</a> were up 4.31% in the after-hours session at $416.25 after ending Thursday&#8217;s regular trading lower by 2.45%, according to Benzinga Pro.
Photo Courtesy: Wikimedia Commons
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/04/38348747/not-something-steve-jobs-would-probably-do-gurman-says-apple-should-go-against-the-grain-and-low?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Not Something Steve Jobs Would Probably Do&#8217;: Gurman Says Apple Should Go Against The Grain And Lower iPhone&#8217;s Price Point</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Satya Nadella Says Azure Search, Also Used By ChatGPT, Is 'One Of The Fastest-Growing Services' For Microsoft

Arrived, the real estate investment platform that allows individuals to buy shares in single-family rental properties, has released its financial performance report for the first quarter of 2024. The company reported a strong quarter, with investors earning more than $1.1 million in dividend income, a 16% increase from the previous quarter.
During Q1 2024, 352 individual properties paid out dividends, with single-family residential properties earning an average annualized dividend of 3.8% and vacation rental homes earning an average of 3.4%. The Arrived Single Family Residential Fund, which launched in 2023, earned an average annualized dividend of 4.0%.
Update: Arrived is launching three new properties on its platform, with a minimum investment of $100. <a href="https://www.benzinga.com/go/arrived-yf">The offerings can be previewed here</a>.&nbsp;
&#8220;Despite affordability challenges, we&#8217;re continually impressed by the resilience of the residential real estate market,&#8221; said Cameron Wu, VP of Investments at Arrived, in a statement. &#8220;While sustained higher interest rates and persistent inflation have tempered expectations for rate reductions, home prices remain steady. This underscores the importance of strategic precision and market selectivity.&#8221;
Wu also noted that Arrived is focusing on areas with strong macroeconomic tailwinds, such as population and job growth, and favorable tax schemes, aligning with the company&#8217;s strongest convictions.
In addition to strong dividend performance, Arrived also reported several product updates, including the launch of Cash Balance, which allows investors to receive dividends directly to their Arrived account and reinvest or withdraw funds at any time. The company also revamped its property pages to include a comprehensive property timeline for all single-family residential properties and vacation rentals, and implemented two-factor authentication across all investor accounts.
Share price performance was mixed during the quarter, with single-family residential properties seeing an average share price change of -1.5% from Q4 2023 to Q1 2024, and vacation rental properties experiencing an average share price change of -2.9%. However, the company emphasized that real estate tends to perform best as a long-term investment, allowing investors to navigate through various market cycles and maximize returns.
&#8220;As we enter the peak season for long-term rentals, our leases are strategically structured to mostly expire between March and June, minimizing lease-up times and maximizing new rents,&#8221; added Wu. &#8220;This positions us well to capitalize on seasonal demand for rentals. Additionally, our vacation rental portfolio is experiencing robust growth, boasting nearly 60% occupancy rates across our portfolio, with 11 properties managed internally by Arrived.&#8221;
Arrived closed Q1 2024 with a stabilized occupancy rate of 92% for single-family residential properties and 95% for properties in the Arrived Single Family Residential Fund. The company also reported strong performance in its vacation rental portfolio, with $705,777 in gross booking revenue across all operational vacation rentals in Q1.
While the real estate market faces challenges, Arrived remains optimistic about the opportunities for investors. By focusing on strategic market selection, operational enhancements, and a commitment to transparency, the company aims to continue delivering value to its investors in the coming quarters.
Investors interested in becoming fractional owners of rental properties can <a href="https://www.benzinga.com/go/arrived-yf">view offerings on the Arrived website</a>. 
Image courtesy of Arrived.

Real Estate

Fractional Landlords Earned Over $1.1 Million In Rent Dividends In Q1: Highlights From Arrived's Latest Performance Review

Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) CEO Pat Gelsinger expressed confidence in the company&#8217;s future, despite a disappointing <a href="https://www.benzinga.com/news/earnings/24/04/38444720/intel-shares-fall-on-q1-revenue-miss-weak-q2-eps-guidance">first-quarter performance</a>.
What Happened: Gelsinger, during the first quarter earnings call, highlighted the company&#8217;s upcoming products and their potential to regain market share.
He emphasized the significance of the Sierra Forest, Intel&#8217;s first Xeon 6 product on Intel 3, which marks a return to American soil for the company&#8217;s leading process technology after a decade. 
Gelsinger also mentioned the Granite Rapids, set to launch in the third quarter, and the Clearwater Forest, the second generation of the Ecorepart, scheduled for next year. He believes these products will help Intel regain its leadership position in the data center market.
See Also: <a href="https://www.benzinga.com/news/earnings/24/04/38390883/tesla-q1-earnings-highlights-ev-giant-misses-wall-street-estimates-makes-cost-cuts-invests-in-ai-sp?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Q1 Earnings Highlights: EV Giant Misses Wall Street Estimates, Makes Cost Cuts, Invests In AI, Spee</a>
Despite the disappointing first-quarter results, Gelsinger is confident in Intel&#8217;s future, stating, &#8220;The roadmap is healthy. The execution is strong, and we&#8217;re rebuilding customer trust. They&#8217;re looking at us now and saying, &#8216;Oh, Intel is back.&#8217; And we&#8217;re quite excited by that.&#8221;
Why It Matters: Intel&#8217;s first-quarter performance was less than stellar, with the company&#8217;s <a href="https://www.benzinga.com/news/earnings/24/04/38444720/intel-shares-fall-on-q1-revenue-miss-weak-q2-eps-guidance">shares falling</a> after it reported lower-than-expected revenue and issued a weak second-quarter EPS guidance. Despite this, Gelsinger&#8217;s optimism about the company&#8217;s future could reassure investors and stakeholders.
Intel&#8217;s subsidiary, Mobileye, also faced challenges in the first quarter, with its revenue dropping by 48% due to a <a href="https://www.benzinga.com/news/earnings/24/04/38432965/intel-spinoff-mobileye-revenue-falls-amid-supply-chain-reset-ceo-optimistic-about-recovery">supply chain reset</a>. However, Mobileye&#8217;s President and CEO, Prof. Amnon Shashua, expressed optimism about the company&#8217;s recovery, indicating a potential turnaround for Intel&#8217;s overall business.
Price Action: At the time of writing, Intel&#8217;s stock price dropped 7.75% after hours to $32.39, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next: <a href="https://www.benzinga.com/news/24/04/38424795/amazon-pauses-green-card-sponsorship-for-foreign-workers-in-2024-amid-layoffs-report?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amazon Pauses Green Card Sponsorship For Foreign Workers In 2024 Amid Layoffs: Report</a>
Image Via Shutterstock
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

INTC

Intel CEO Pat Gelsinger Aims To Regain Lost Ground After Disappointing Results: 'The Road Map Is Healthy'

Supporters of Donald Trump are said to be formulating plans that could potentially disrupt the independence of the Federal Reserve, if the former president were to be re-elected.
What Happened: Trump&#8217;s allies have been considering a variety of proposals in recent months. These range from incremental policy changes to a controversial claim that the president should have a say in setting interest rates, <a href="https://www.wsj.com/economy/central-banking/trump-allies-federal-reserve-independence-54423c2f">reported</a> The Wall Street Journal.
A secretive group of Trump&#8217;s allies has prepared a 10-page document outlining a policy vision for the Federal Reserve, according to sources. The group proposes that Trump should be involved in interest-rate decisions and suggests subjecting Fed regulations to White House review. The document also advocates for a more proactive use of the Treasury Department to oversee the central bank.
The group also asserts that if Trump were to return to the White House, he would have the power to dismiss Jerome Powell as Fed chair before his term concludes in 2026. However, it is still uncertain whether Trump is aware of or has endorsed this initiative.
Senior advisers to Trump, Susie Wiles and Chris LaCivita, have warned that unless a message is directly from Trump or an authorized member of his campaign team, no aspect of future presidential staffing or policy announcements should be considered official, according to the report.
Benzinga has reached out to the Trump campaign for comment, the story will be updated as and when a response is received. 
The prospect of Trump influencing interest rates was described as a &#8220;horrifying thought&#8221; by one former Trump administration official, according to the report.
Trump, known for his preference for low interest rates, has not yet decided how he would approach the Fed in a second term. He has had informal discussions with advisers about potential candidates to lead the central bank and has asked associates if they would be interested in the role.
See Also: <a href="https://www.benzinga.com/news/24/04/38394597/elon-musk-reacts-to-marjorie-taylor-greenes-ally-revelation-of-fine-threat-by-house-authorities-mike?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts To Marjorie Taylor Greene&#8217;s Ally Revelation Of Fine Threat By House Authorities: Mike Johnson Removing Traces Of &#8216;Betrayal of America&#8217;</a>
Why It Matters: Trump has previously expressed his dissatisfaction with Powell&#8217;s leadership of the Federal Reserve. In February 2024, he suggested that Powell&#8217;s decisions, especially regarding interest rate policies, might be <a href="https://www.benzinga.com/news/24/02/36915973/trump-suggests-political-motives-behind-powells-fed-decisions-points-to-threat-of-massive-inflation">politically motivated</a>, favoring the Democratic Party.
In a meeting at his Mar-a-Lago club in Florida in March 2024, Trump was presented with a <a href="https://www.benzinga.com/news/24/03/37770466/if-trump-returns-these-three-candidates-will-be-the-top-choice-to-replace-jerome-powell-say-ex-presi">list of potential candidates</a> to replace Powell, indicating his interest in a change of leadership at the Fed.
This is not the first time Trump has criticized Powell. Back in August 2019, he compared Powell to China&#8217;s President Xi Jinping, <a href="https://www.benzinga.com/government/19/08/14319959/trump-my-only-question-is-who-is-our-bigger-enemy-jay-powell-or-chairman-xi">questioning who was a bigger enemy</a> of the U.S. 
Photo via Shutterstock
Read Next: <a href="https://www.benzinga.com/news/24/04/38422645/trumps-niece-says-ex-president-could-see-potential-imprisonment-as-opportunity-donald-is-facing-real?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Niece Says Ex-President Could See Potential Imprisonment As Opportunity: &#8216;Donald Is Facing Real-Time Consequences For His Transgressions&#8217;</a>
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Politics

Secretive Trump Allies Plan To Curtail Federal Reserve's Independence: Report

Drew Baglino, the former Senior Vice President of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), has sold off a significant portion of his shares in the company. This move comes shortly after his resignation from the electric vehicle (EV) giant.
What Happened: Baglino, who had been with Tesla since 2006, sold approximately 1.14 million shares, valued at $181.5 million, as per a <a href="https://www.sec.gov/Archives/edgar/data/1318605/000197236224000520/xsl144X01/primary_doc.xml">filing</a> with the Securities and Exchange Commission (SEC) on Thursday.
The filing listed the &#8220;approximate date of sale&#8221; as Apr. 25, and described it as an exercise of stock options. This sale follows two previous transactions earlier this year, where Baglino offloaded about $4 million worth of shares.
Baglino, who was serving as the Senior Vice President of Powertrain and Energy Engineering, announced his departure from Tesla on Apr. 15, the same day the company revealed a 10% reduction in its global workforce. His resignation was followed by that of another long-serving executive, Rohan Patel.
See Also: <a href="https://www.benzinga.com/markets/equities/24/04/38399275/no-choice-elon-musk-reacts-as-x-user-reveals-main-reason-why-the-billionaire-is-re-organizing-te?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;No Choice:&#8217; Elon Musk Reacts As X User Reveals &#8216;Main Reason&#8217; Why The Billionaire Is &#8216;Re-Organizing&#8217; Tesl</a>
Despite being a key figure at Tesla, Baglino has chosen to part ways with the company, which is undergoing a significant strategic shift. CEO Elon Musk recently announced that Tesla will prioritize its &#8220;autonomy roadmap,&#8221; focusing on the development of a robotaxi or CyberCab, and investing in AI infrastructure.
Why It Matters: Baglino&#8217;s departure from Tesla comes amid a period of significant change for the company. The EV maker recently reported a 9% drop in <a href="https://www.benzinga.com/news/earnings/24/04/38390883/tesla-q1-earnings-highlights-ev-giant-misses-wall-street-estimates-makes-cost-cuts-invests-in-ai-sp">first-quarter revenue</a>, its steepest year-over-year decline since 2012, due to declining demand and increased global competition.
Despite this, Musk remains optimistic about Tesla&#8217;s future, emphasizing the company&#8217;s investments in AI infrastructure and the potential for self-driving vehicle technology. This has led to <a href="https://www.benzinga.com/news/earnings/24/04/38394792/tesla-stock-surges-despite-ugly-q1-results-heres-why">a surge in Tesla&#8217;s share</a> price, which was down about 40% for the year prior to the earnings report, jumping 18% in the two trading days after Musk&#8217;s commentary.
Analysts, however, remain divided on <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38398667/tesla-bulls-praise-musks-q1-earnings-call-see-ev-giant-on-collision-course-with-ube">Tesla&#8217;s near-term prospects</a>. While some, like Gary Black of Future Fund, see Tesla on a collision course with Uber and Lyft, others, like Bernstein analyst Toni Sacconaghi, are <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38162984/teslas-robotaxi-wont-get-investors-excited-say-analysts-we-see-unveiling-on-august-">more skeptical</a>, questioning whether the affordable EVs Musk promised will &#8220;really be new models, or tweaks on existing models.&#8221;
Price Action: As of Thursday&#8217;s close, Tesla is up 4.97%, at $170.18. The stock is up 14.31% over the last five days, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38384714/whats-going-on-with-trump-media-technology-stock-on-tuesday?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With Trump Media &amp; Technology Stock On Tuesday?</a>
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Ex-Tesla SVP Drew Baglino Offloads $181.5M Worth Of EV Maker's Shares After Resignation

<a href="https://www.benzinga.com/topic/nevada-cannabis">Nevada&#8217;s cannabis sector</a> is undergoing notable transformations as Deep Roots Harvest, a key player in the state&#8217;s cannabis market, announces its acquisition of The Source assets, further solidifying its position in the industry. This move was <a href="https://www.greenmarketreport.com/deep-roots-harvest-to-acquire-the-source-assets/">noted </a>by the Green Market Report and comes against the backdrop of significant strategic maneuvers within Nevada&#8217;s cannabis landscape, including recent acquisitions and funding initiatives.
Building On Previous Acquisitions
Deep Roots Harvest&#8217;s acquisition of The Source assets follows a series of strategic moves in Nevada&#8217;s cannabis market. In March, C21 Investments Inc.&#8217;s wholly-owned Nevada subsidiary, Silver State Relief, LLC, revealed <a href="https://www.benzinga.com/markets/cannabis/24/03/37757565/canadian-cannabis-co-c21-to-buy-nevadas-deep-roots-in-3-5m-deal">plans to acquire Deep Roots Harvest</a> Inc. store in Reno in a $3.5 million deal. This transaction, aimed at expanding Silver State Relief&#8217;s footprint in Nevada, laid the groundwork for Deep Roots Harvest&#8217;s subsequent acquisition endeavors.
Expansion Strategy
The agreement between <a href="https://deeprootsharvest.com/">Deep Roots Harvest </a>and <a href="https://www.thesourcenv.com/">The Source Holdings LLC</a> marks a significant milestone in Deep Roots Harvest&#8217;s expansion strategy. The acquisition encompasses five retail locations and three essential facilities, positioning Deep Roots Harvest as a formidable player in Nevada&#8217;s cannabis industry. 
Strategic Alliances And Industry Trends
The <a href="https://www.benzinga.com/markets/cannabis/24/03/37917873/viridian-chart-of-the-week-is-consolidation-increasing-in-cannabis">consolidation </a>within Nevada&#8217;s cannabis market reflects broader industry trends and strategic alliances aimed at capitalizing on the state&#8217;s robust cannabis sales per capita, driven in part by its thriving tourism industry. While recent fiscal data indicated a contraction in cannabis sales, the allure of Nevada&#8217;s market continues to attract companies seeking to establish a strong foothold in the region.
<h3 class="wp-block-heading">Nevada&#8217;s Industry Consolidation</h3>
The recent acquisition of The Source assets by Deep Roots Harvest signals a strategic maneuver amid a landscape marked by significant shifts and alliances. This move aligns with other notable acquisitions in the region, such as<a href="https://www.benzinga.com/markets/cannabis/24/02/37344004/new-cannabis-partnership-set-to-revolutionize-nevadas-market-as-nabis-acquires-blackbird"> Nabis&#8217; recent announcement of its acquisition of Blackbird</a>. As Nabis integrates its technology and infrastructure with Blackbird&#8217;s network of operators and retailers, the industry anticipates enhanced efficiencies and a unified customer experience within Nevada&#8217;s cannabis supply chain. This consolidation trend reflects a concerted effort to strengthen operations and elevate standards across the state&#8217;s cannabis market.
Looking Ahead
As Deep Roots Harvest expands its presence in Nevada&#8217;s cannabis market, the company remains committed to innovation and strategic growth. While specific details regarding the acquisition are forthcoming, this acquisition positions Deep Roots Harvest for sustained growth and market leadership.

Deep Roots Harvest To Acquire The Source Operation In Nevada

Thursday saw a decrease in major U.S. indices, with the Dow Jones Industrial Average closing the session down by nearly 1% at 38,085.80. Similarly, the S&amp;P 500 dropped by almost 0.5% to 5,048.42, while the Nasdaq experienced a decline of 0.6% to 15,611.76.
Despite the overall market downturn, certain stocks managed to capture the attention of retail traders and investors. Here are the top five trending stocks of the day:
Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) ended the day with a 1.97% decrease, closing at $156. The stock&#8217;s intraday high was $156.49, and it hit a low of $150.87. The 52-week high and low are $160.22 and $102.63, respectively. The company&#8217;s Class C shares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) ended the day nearly 2% lower at $157.95. Alphabet reported a 15% year-over-year increase in its first-quarter revenue to $80.54 billion, <a 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">beating the consensus estimate</a>. The company also announced a $70B buyback and its first-ever dividend.
Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) saw a 2.45% decrease, closing at $399.04. The stock&#8217;s intraday high was $399.89, and it hit a low of $388.03. The 52-week high and low are $430.82 and $292.73, respectively. Microsoft reported a 17% year-over-year increase to $61.9 billion in its <a href="https://www.benzinga.com/news/earnings/24/04/38444199/microsoft-q3-earnings-revenue-beat-eps-beat-new-era-of-ai-transformation-and-more">third-quarter revenue</a>, beating the consensus estimate. 
See Also: <a href="https://www.benzinga.com/markets/equities/24/04/38384714/whats-going-on-with-trump-media-technology-stock-on-tuesday?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With Trump Media &amp; Technology Stock On Tuesday?</a>
Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) closed the day with a 1.77% increase, at $35.11. The stock&#8217;s intraday high was $35.3, and it hit a low of $34.5. The 52-week high and low are $51.28 and $26.86, respectively. Intel reported <a href="https://www.benzinga.com/news/earnings/24/04/38444720/intel-shares-fall-on-q1-revenue-miss-weak-q2-eps-guidance">worse-than-expected</a> first-quarter sales results and issued earnings guidance below estimates. Quarterly sales came in at $12.7 billion missing the consensus estimate of $12.78. billion by 0.44%.
Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>) saw a 1.58% increase, closing at $62.81. The stock&#8217;s intraday high was $63.21, and it hit a low of $59.66. The 52-week high and low are $108.84 and $51.62, respectively. According to the company&#8217;s <a href="https://www.benzinga.com/news/earnings/24/04/38446113/roku-exceeds-q1-earnings-expectations-provides-upbeat-guidance">first-quarter numbers</a>, Roku reported losses of 35 cents per share beating the analyst consensus estimate of 62 cents and provided upbeat guidance. 
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) ended the day with a 4.97% increase, closing at $170.18. The stock&#8217;s intraday high was $170.88, and it hit a low of $158.36. The 52-week high and low are $299.29 and $138.8, respectively. Billionaire investor Ron Baron believes Tesla stock is <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38441703/billionaire-ron-baron-calls-the-bottom-in-tesla-stock-says-shares-will-go-up-huge-from-h">ready to rip higher</a> from current levels. 
Photo by Phongphan on Shutterstock
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38410320/stock-manipulation-in-trump-media-technology-group-stock-ceo-devin-nunes-urges-house-gop-leaders?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Stock Manipulation In Trump Media &amp; Technology Group Stock? CEO Devin Nunes Urges House GOP Leaders To Investigate</a>
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ROKU

Google Parent Alphabet, Microsoft, Intel, Roku, Tesla: Why These 5 Stocks Are On Investors' Radars Today

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>) CEO Sundar Pichai has projected that the company&#8217;s YouTube and Cloud businesses will generate a combined revenue of $100 billion by 2024.
What Happened: The forecast was made by Pichai during the first quarter earnings, according to Gene Munster of Deepwater Asset Management, posted on social media platform X on Thursday. This projection suggests a 25% growth rate for each of the next three quarters, despite YouTube&#8217;s 21% and 28.4% growth in March.
Munster noted, &#8220;Maintaining growth rates around 25% despite larger numbers is a sign Google&#8217;s entering a new growth phase.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Sundar said to <a href="https://twitter.com/search?q=%24GOOG&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GOOG</a>&#39;s Youtube and Cloud to exit 2024 at a combined revenue of $100B. This implies 25% growth in each of the next three quarters, compared to YouTube up 21% and 28.4% in March. Take away: Maintaining growth rates around 25% despite larger numbers is sign…
&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1783598005142036526?ref_src=twsrc%5Etfw">April 25, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38395178/dogecoin-could-outperform-bitcoin-thanks-to-consolidation-in-the-golden-pocket-says-trader?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Could Outperform Bitcoin Thanks To Consolidation In The Golden Pocket, Says Trader: &#8216;This Is A Very Good Sign&#8217;</a>
Why It Matters: This announcement comes on the heels of <a 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">Alphabet&#8217;s Q1 earnings report</a>, which revealed a 15% year-over-year increase in revenue to $80.539 billion. The company also reported quarterly earnings of $1.89 per share, surpassing analyst estimates.
Earlier in April, Meta Platforms Inc. took a page out of Google&#8217;s playbook by opening up its Quest operating system to <a href="https://www.benzinga.com/news/24/04/38372183/meta-takes-a-leaf-out-of-googles-playbook-aims-to-make-quest-os-the-android-of-mixed-reality">third-party hardware manufacturers</a>. This move was a result of Meta&#8217;s investments in mixed reality, starting with Oculus in 2014 for $2 billion.
Despite facing <a href="https://www.benzinga.com/news/24/04/38133688/sundar-pichais-google-grapples-with-ai-mishaps-amid-worker-criticism-yet-holds-title-of-americas-mos">internal criticism and AI-related challenges</a>, Alphabet has once again secured the top position in the list of &#8220;America&#8217;s Most Innovative Companies 2024.&#8221; This is a testament to the company&#8217;s resilience and continued innovation under Pichai&#8217;s leadership.
Price Action: Alphabet&#8217;s Class C stock rose 11.43% in after-hours trading to $176.23. Similarly, Class A stock rose 11.56% to $174.04, as per data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a> at the time of writing.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meta Platforms Q1 Earnings Highlights: Facebook Owner Beats Estimates, But Guidance, Higher Costs Ding Stock</a>
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Gene Munster Applauds Sundar Pichai's $100B Revenue Projection For Google Parent Alphabet: A Sign Of 'Entering A New Growth Phase'

Alphabet Inc.&nbsp;(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>) CEO&nbsp;Sundar Pichai&nbsp;has expressed confidence in the company&#8217;s ability to manage the costs associated with the <a href="https://www.benzinga.com/news/23/12/36236482/googles-ai-search-a-double-edged-sword-for-publishers-like-the-atlantic">new search experience</a>, which includes generative answers.
What Happened: During the <a 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">first-quarter earnings call on Thursday</a>, Pichai addressed the changes in user behavior and the potential impact on the new Search experience given the integration of generative answers. 
The CEO also addressed concerns about the potential costs of serving these queries, latency, and monetization, expressing confidence in the company&#8217;s ability to manage these challenges. 
See Also: <a href="https://www.benzinga.com/news/24/04/38351566/mark-zuckerberg-didnt-sell-facebook-for-1b-but-would-he-have-sold-for-5t-this-was-meta-ceos-thought?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Didn't Sell Facebook For $1B But Would He Have Sold For $5T? This Was Meta CEO's Thought Process</a>
&#8220;People question whether these things would be costly to serve, and we are very, very confident we can manage the cost of how to serve these queries,&#8221; he said for new search experience. 
This announcement comes on the heels of Google&#8217;s strong first-quarter earnings, where the company beat analyst estimates on both the top and bottom lines for the fifth consecutive quarter. 
The company&#8217;s revenue increased by 15% year-over-year to $80.539 billion, surpassing the consensus estimate of $78.594 billion, according to data from Benzinga Pro.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Earlier this month, reports surfaced that Google was considering&nbsp;<a href="https://www.benzinga.com/news/24/04/38079174/alphabet-stock-initially-jumps-as-google-considers-charging-for-ai-search-the-details">charging users for AI-powered search</a>, a move that could potentially generate additional revenue for the company. 
As per the report by Financial Times, this development would mark the first time Google enclosed any segment of its fundamental Search product within a paywall. However, the tech giant&#8217;s traditional search engine will probably remain free of charge regardless.
Price Action: At the time of writing, Alphabet's Class A shares soared 11.6% in the after-hours session at $174.24, while the company's Class C shares shot up 11.4% at $176. The Class A and Class C shares closed nearly 2% lower at $156 and $157.95 respectively in the regular session, according to<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener"> Benzinga Pro data</a>.
Photo Courtesy: Wikimedia Commons
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/04/38349837/elon-musk-agrees-every-american-household-will-have-a-1-000-per-month-home-robot-in-7-years-time?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Agrees Every American Household Will Have A $1,000-Per-Month Home Robot In 7 Years&#8217; Time</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

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Latest News for CFN Enterprises Stock (OTC:CNFN)

Monday, January 10, 2022