Short interest for PC Connection gives investors a sense of the degree to which investors are betting on the decline of PC Connection's stock. Short interest data is updated every two weeks.

PC Connection Stock (NASDAQ:CNXN), Short Interest Report

PC Connection

PC Connection Inc is a provider of information technology solutions. It provides products such as computer systems, software and peripheral equipment, networking communications, and other products and accessories that company purchase from manufacturers and distributors. The company also offers services involving design, configuration, and implementation of IT solutions. It conducts business operations through three business segments namely Connection Business Solutions, Connection Enterprise Solutions, and Connection Public Sector Solutions. The company generates maximum revenue Connection Enterprise Solutions segment.

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The most overbought stocks in the information technology sector presents an opportunity to go short on these overvalued companies.

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	Mangoceuticals, Inc. (NASDAQ: MGRX) shares jumped 207% to $2.84. The company announced Thursday, that it&#39;s featured on Webull Corporate Communications Service Platform.


Why SAP Shares Are Trading Higher By Around 6%? Here Are Other Stocks Moving In Friday&#39;s Mid-Day Session

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GSX Techedu Inc. American Depositary Shares

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U.S. stocks traded lower, with the Dow Jones dropping around 50 points on Friday. Here are some big stocks recording losses in today’s session.
	U Power Limited  (NASDAQ: UCAR) shares fell 55% to $19.41 amid post-IPO volatility. U Power priced its 2,416,667 share IPO at $6 per share.


W. R. Berkley, Autoliv, Glacier Bancorp And Other Big Stocks Moving Lower On Friday

PC Connection Inc

Jim Cramer, the host of CNBC&#8217;s &#8220;Mad Money,&#8221; has attributed the recent market downturn to concerns about interest rates.
What Happened: On Tuesday, Cramer discussed the market&#8217;s performance, emphasizing the impact of potential interest rate changes by the Federal Reserve, <a href="https://www.cnbc.com/2024/04/30/jim-cramer-says-interest-rate-worries-helped-bring-april-sell-off.html">reported</a> CNBC. 
The major indices experienced a significant drop, marking the end of a five-month winning streak for all three and the worst monthly performance for the Dow Jones Industrial Average since September 2022.
Cramer highlighted the market&#8217;s sensitivity to the Fed&#8217;s rate decisions, particularly in light of the recent increase in the Employment Cost Index, which measures worker pay. 
He suggested that investors are still hoping for multiple rate cuts this year, and any positive economic data could prompt them to sell off stocks.
"What truly matters to this market is that we've got plenty of investors who're still clinging, or holding out for, a whole bunch of rate cuts this year," he said. "And until they give up on that idea, they're going to keep dumping stocks any time we get one piece of strong economic data, no matter what it is."
See Also: <a href="https://www.benzinga.com/markets/asia/24/04/38481364/chinas-big-banks-halt-russia-transactions-over-us-sanctions-forcing-firms-to-resort-to-underground-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">China&#8217;s Big Banks Halt Russia Transactions Over US Sanctions, Forcing Firms To Resort To &#8216;Underground&#8217; Channels: Report</a>
However, Cramer expressed optimism that Fed Chair Jerome Powell could reassure investors during the upcoming meeting by indicating a commitment to maintaining current rates. He pointed to a drop in consumer confidence and the Chicago Purchasing Managers&#8217; Index as potential indicators of a weakening economy, which the Fed may view favorably.
&#8220;Every year there are people who want to get out ahead of the &#8216;sell in May and go away&#8217; crowd,&#8221; Cramer said. &#8220;If that&#8217;s the case, we could right the ship tomorrow if Jay Powell acknowledges some brown shoots. Personally, that&#8217;s my preferred explanation.&#8221;
Why It Matters: Cramer&#8217;s analysis aligns with the current market sentiment, which has been heavily influenced by speculation about potential rate cuts. Earlier in February, Cramer encouraged investors to <a href="https://www.benzinga.com/markets/equities/24/02/36946651/jim-cramer-tells-investors-to-find-some-room-for-stocks-before-fed-rate-cuts-youre-gonna-be-kick">capitalize on the market conditions</a> before the Fed implements rate cuts. 
However, by April, he <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38179803/jim-cramer-weighs-in-on-feds-interest-rate-cut-plans-dont-hold-your-breath-this-eco">warned against anticipating swift rate cuts</a> due to the strength of the economy, a sentiment echoed by other analysts.
Despite this, the possibility of a <a href="https://www.benzinga.com/general/macro-notification/24/04/38526201/is-hawkish-shift-on-inflation-imminent-wall-street-analysts-traders-brace-for-fed-impa">hawkish shift in the Fed&#8217;s stance</a> has caused uncertainty among investors. The recent <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38508875/another-rate-hike-coming-in-2024-macquarie-economists-reverse-forecast-warn-of-incr">reversal of interest rate cut predictions</a> by Macquarie economists further adds to the complexity of the current market landscape.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38478293/shiba-inus-burn-rate-soars-cathie-wood-believes-ethereum-could-catch-up-to-bitcoin-and-mor?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu&#8217;s Burn Rate Soars, Cathie Wood Believes Ethereum Could Catch Up To Bitcoin And More: Top Crypto</a>
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Equities

Global

Federal Reserve

Jim Cramer Attributes April Market Sell-Off To Interest Rate Concerns: 'They're Going To Keep Dumping Stocks ...'

Influential crypto trader Kevin, formerly known as OG_Yomi, recently predicted a major support zone for Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), amidst a turbulent crypto market.
What Happened: On Tuesday, Kevin took to X, previously known as Twitter, to share his views on the current state of Dogecoin. He stated, &#8220;After the weekly close I made the prediction that #Dogecoin would come down to test the .125-.13 cents level. We officially came down to .129 so far.&#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">After the weekly close I made the prediction that <a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> would come down to test the .125-.13 cents level. We officially came down to .129 so far. At this point this is a major support zone and if the <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> market is in a real bull market we should not lose this zone. If we… <a href="https://t.co/DFWqFiydia">https://t.co/DFWqFiydia</a>
&mdash; Kevin (@Kev_Capital_TA) <a href="https://twitter.com/Kev_Capital_TA/status/1785437140773695576?ref_src=twsrc%5Etfw">April 30, 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/24/04/38479551/is-the-memecoin-supercycle-over-mad-crypto-alpha-with-ivan?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Is The &#8216;Memecoin Supercycle&#8217; Over? Mad Crypto Alpha With Ivan</a>
Kevin further emphasized the importance of this zone, stating, &#8220;At this point this is a major support zone and if the #Crypto market is in a real bull market we should not lose this zone.&#8221;
Dogecoin has seen a sharp fall in prices recently. The Shiba Inu-themed meme coin has slid 18.8% over a seven-day period, while over a longer 30-day span, it has lost more than 38% of its value. Even so it has managed to gain more than 47% since the year began. 
Why It Matters: Kevin&#8217;s prediction comes at a time when Dogecoin&#8217;s performance has been under scrutiny. Just a week ago, he expressed his views on the meme coin&#8217;s performance, stating that the crypto had closed its lowest weekly candle in almost two months. 
He suggested that a retest of the $0.125 to $0.13 level now seems likely, emphasizing that this is a crucial support level that <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38488740/dogecoins-5-loss-closes-lowest-weekly-candle-in-2-months-but-this-trader-wouldnt-be-holdin">must hold</a> for Dogecoin to maintain its bullish outlook. A breach of this level could potentially lead to further downside pressure on the cryptocurrency's price.
Earlier this month, Kevin <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38395178/dogecoin-could-outperform-bitcoin-thanks-to-consolidation-in-the-golden-pocket-says-trader">shared a bullish outlook</a> on Dogecoin's performance against Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), noting the cryptocurrency's consolidation in the golden pocket and its position above all bull market up trending moving averages. 
Price Action: At the time of writing, Dogecoin traded nearly 7.9% lower at $0.13, according to <a href="https://www.benzinga.com/pro/feature/newsfeed?gspk=bHVrZWphY29iaTUzNDg&amp;gsxid=tdEE0VrK8Jeg&amp;ref=lukejacobi5348">data from Benzinga Pro.</a>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38488740/dogecoins-5-loss-closes-lowest-weekly-candle-in-2-months-but-this-trader-wouldnt-be-holdin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin&#8217;s 5% Loss Closes Lowest Weekly Candle In 2 Months, But This Trader &#8216;Wouldn&#8217;t Be Holding If It Was All Over&#8217;</a>
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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Amid Dogecoin Price Dip, Trader Predicts 'Major Support Zone' For Meme Coin

The New York Police Department (NYPD) in riot gear stormed Columbia University&#8216;s campus to quell pro-Palestine protests. The police action came after a week of peaceful demonstrations against the Israel-Hamas war.
What Happened: The NYPD, armed with batons, entered Hamilton Hall, where student protesters had barricaded themselves. The police intervention followed a week-long protest on the university&#8217;s outdoor common space, <a href="https://thehill.com/homenews/education/4634531-police-riot-gear-enter-columbia-university-palestine-protests/">reported</a> The Hill on Tuesday.
The police entered the building through a second-floor window at approximately 9:30 p.m. This move came after the university ordered students to stay in their dorms and the NYPD demanded the same.
The university justified the police intervention as a necessary step to restore safety and order. The spokesperson expressed regret over the protesters&#8217; actions, which left the university with no other choice.
"We regret that protesters have chosen to escalate the situation through their actions," a university spokesperson <a href="https://communications.news.columbia.edu/news/campus-updates">wrote</a>. "After the University learned overnight that Hamilton Hall had been occupied, vandalized, and blockaded, we were left with no choice."
The protests at Columbia are part of a larger national movement against the Biden administration&#8217;s response to the Israel-Hamas war. The protesters are calling for a cease-fire, an end to military aid to Israel, and for their universities to divest from Israeli interests.
At a press conference earlier on Tuesday, New York City Mayor Eric Adams claimed that the protests had been &#8220;co-opted&#8221; and urged the demonstrators to end their cause before the situation escalates.
See Also: <a href="https://www.benzinga.com/news/24/04/38507901/trump-kennedy-jr-feud-escalates-as-polls-indicate-gap-between-democract-gop-candidates-narrowing?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump-Kennedy Jr. Feud Escalates As Polls Indicate Gap Between Democract, GOP Candidates Narrowing</a>
Rep. Alexandria Ocasio-Cortez (D-N.Y.), who met with the protesters earlier in the week, criticized the mayor and Columbia leadership for their response and the police action.
The police cleared Hamilton Hall of protesters before 11:00 p.m., with at least dozens of protesters being arrested. The NYPD is expected to remain on campus until May 17, according to an email sent to students by the student-run WKCR radio at Columbia.
Why It Matters: The protests at Columbia are part of a <a href="https://www.benzinga.com/news/24/04/38446778/students-demand-universities-sell-off-israel-related-stocks-hundreds-arrested-in-nationwide-protests">larger national movement</a> that has seen hundreds of arrests. The protesters are demanding a cease-fire and for their universities to divest from Israeli interests.
The protests have also sparked <a href="https://www.benzinga.com/news/24/04/38358514/mike-pence-tim-scott-slam-pro-palestinian-protests-in-columbia-university-no-place-for-anti-semitism">criticism from political figures</a> such as former Vice President Mike Pence and Sen. Tim Scott (R- S.C.). The university&#8217;s decision to call in the NYPD has been met with <a href="https://www.benzinga.com/news/24/04/38446778/students-demand-universities-sell-off-israel-related-stocks-hundreds-arrested-in-nationwide-protests">widespread condemnation</a>, with some calling for the university president to resign.
Meanwhile, the protests have also had <a href="https://www.benzinga.com/news/24/04/38520941/ivy-league-grads-no-longer-the-apple-of-recruiters-eyes-amid-anti-israel-protests-they-are-going-to">repercussions on the job market</a>, with recruiters expressing discomfort with hiring graduates from Ivy League colleges due to their increasing political participation.
Despite the police intervention at Columbia, some universities have allowed the protests to continue. Brown University, for example, <a href="https://www.benzinga.com/news/24/04/38446778/students-demand-universities-sell-off-israel-related-stocks-hundreds-arrested-in-nationwide-protests">agreed to hold a vote</a> on the students&#8217; divestment proposal, leading to the end of their protest.
Read Next: <a href="https://www.benzinga.com/news/24/04/38482489/ukrainian-troops-retreat-as-conflict-with-russia-intensifies-in-eastern-front-zelenskyy-urges-us-for?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ukrainian Troops Retreat As Conflict With Russia Intensifies In Eastern Front, Zelenskyy Urges US For Swift Arms Deliveries</a>
Image Via Shutterstock 
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
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Politics

NYPD Descends On Columbia University In Riot Gear Amid Pro-Palestine Protests

Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) CEO Lisa Su highlighted the company&#8217;s AI hardware&#8217;s superior performance over NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and its potential to cut customer costs during the first quarter earnings call this year.
What Happened: Su claimed that AMD&#8217;s MI300X GPUs offer better inferencing performance and significant total cost of ownership (TCO) advantages compared to Nvidia&#8217;s H100 GPUs. 
She also noted that the MI300X GPUs could deliver the same amount of compute with 45% fewer servers than the competition, potentially reducing initial capex by up to half and lowering annual opex by more than 40%.
&#8220;Our partners are seeing very strong performance in their AI workloads. As we jointly optimize for their models, MI300X GPUs are delivering leadership, inferencing performance and substantial TCO advantages compared to H100,&#8221; Su said.
See Also: <a href="https://www.benzinga.com/government/24/04/38488235/supreme-court-drivers-hauling-baked-goods-are-in-transportation-not-baking?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Supreme Court: Drivers Hauling Baked Goods Are in Transportation, Not Baking</a>
She added, &#8220;For instance, several of our partners are seeing significant increases in tokens per second when running their flagship LLMs on MI300X compared to H100.&#8221;
Why It Matters: AMD&#8217;s first quarter earnings call comes on the heels of a <a href="https://www.benzinga.com/news/earnings/24/04/38534910/amd-investors-pull-back-after-modest-q1-beat-ceo-touts-ai-chip-ramp-up">modest beat and lukewarm guidance</a>, which caused a pullback in the stock. Despite this, Su&#8217;s remarks about the MI300X GPUs&#8217; performance and cost advantages could help bolster investor confidence in the company&#8217;s AI hardware.
Earlier in April, <a href="https://www.benzinga.com/news/24/04/38115757/amds-mi300-chip-gains-momentum-analyst-predicts-strong-growth-and-server-market-success">analyst predictions</a> about the MI300 chip&#8217;s strong growth and success in the server market had already set a positive tone for AMD&#8217;s AI hardware. Su&#8217;s recent comments further reinforce the potential of AMD&#8217;s AI hardware in the market.
Price Action: AMD stock traded lower in after-hours trading, with a decrease of 6.91% to $147.43 on Tuesday. Nonetheless, the stock has seen a 14.29% increase year-to-date, according to the data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38519395/goldman-sachs-tempers-investor-excitement-on-tesla-self-driving-not-yet-an-eyes-off?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Goldman Sachs Tempers Investor Excitement On Tesla Self-Driving Tech In China: &#8216;Not Yet An Eyes-Off, Unsupervised Product&#8217;</a>
Image Via Shutterstock 
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Earnings

Tech

NVDA

Nvidia's AI Leadership Challenged As AMD Claims Superior Inference Performance With MI300 Chip: 'Partners Are Seeing Very Strong Performance'

On Tuesday, Cathie Wood-led Ark Invest made significant trades, with the most prominent ones involving BYD Co Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) and Palantir Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>).
The BYD Co. Trade
Ark Invest, through its ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>), purchased 18,748 shares of BYD Co Ltd. Based on the closing price of $54.47 on the same day, the estimated value of this trade is approximately $1.02 million. This move comes in the wake of a debate between the late billionaire investor Charlie Munger and Wood over the superiority of Tesla, Inc and BYD in the electric vehicle market.
Wood had defended Tesla, a key holding of Ark Innovation ETF, arguing that the <a href="https://www.benzinga.com/news/23/02/30972092/cathie-wood-chimes-in-on-the-tesla-vs-byd-debate-charlie-munger-and-many-on-wall-street-1">lower costs associated with technologically enabled innovation</a> in batteries and drivetrains would cause a boom in unit demand. This move by Ark Invest may indicate a broader strategy to capitalize on the growing electric vehicle market.
The Palantir Trade
Ark Invest also made a significant move in Palantir purchasing 45,453 shares through its ARKQ ETF. With a closing price of $21.97 on the same day, the trade is valued at approximately $1 million. This follows a <a href="https://www.benzinga.com/markets/equities/24/04/38477354/cathie-woods-ark-invest-hoards-palantir-stock-ahead-of-q1-earnings-adds-more-of-this-buffett-bac">previous acquisition</a> of Palantir shares ahead of the company&#8217;s first-quarter earnings report, scheduled for May 5, 2024.
Analysts expect Palantir to report earnings per share of 8 cents on revenue of $625.33 million, representing an increase from the previous quarter.
See Also: <a href="https://www.benzinga.com/general/macro-notification/24/04/38526201/is-hawkish-shift-on-inflation-imminent-wall-street-analysts-traders-brace-for-fed-impa?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Is Hawkish Shift On Inflation Imminent? Wall Street Analysts, Traders Brace For Fed Impact</a>
Other Key Trades:
<ul>
<li>Ark Invest bought 1,658 shares of Advanced Micro Devices Inc (AMD) through its ARKQ fund in a transaction valued at $262,594. Notably, the purchase came on the same day the company declared its first-quarter earnings numbers. The results came <a href="https://www.benzinga.com/news/earnings/24/04/38534910/amd-investors-pull-back-after-modest-q1-beat-ceo-touts-ai-chip-ramp-up">slightly ahead</a> of investor expectations. </li>
<li>Ark Invest sold shares of 2U Inc (TWOU) from its ARK Innovation ETF (ARKK). </li>
<li>Trimble Inc (TRMB) shares were reduced from the ARKQ. Shares of Kratos Defense and Security Solutions Inc (KTOS) were sold from the ARKQ fund. </li>
</ul>
Read Next: <a href="https://www.benzinga.com/markets/asia/24/04/38481364/chinas-big-banks-halt-russia-transactions-over-us-sanctions-forcing-firms-to-resort-to-underground-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">China&#8217;s Big Banks Halt Russia Transactions Over US Sanctions, Forcing Firms To Resort To &#8216;Underground&#8217; Channels: Report</a>
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 Engineered by 
 Benzinga Neuro, Edited by 
 
 <a href="None" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none"> 
 Shivdeep Dhaliwal</a> 
 
 
<hr style="border: 0;height: 1px;background: #225aa9" />

 The GPT-4-based Benzinga Neuro content generation system exploits the 
 extensive Benzinga Ecosystem, including native data, APIs, and more to 
 create comprehensive and timely stories for you. 
 <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Learn more.</a>
 
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ETFs

ARKQ

BYDDY

PLTR

Cathie Wood's Ark Invest Buys Shares Of Tesla Rival BYD, Continues Accumulating Palantir — Also Acquires AMD Shares

Amazon.com Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) CEO&nbsp;Andy Jassy&nbsp;highlighted the potential of the company&#8217;s AI chatbot, &#8220;Q,&#8221; to revolutionize software development during the <a href="https://www.benzinga.com/news/earnings/24/04/38534302/amazon-q1-earnings-highlights-revenue-beat-eps-beat-aws-hits-100-billion-annual-run-rate-and-more">first-quarter 2024 earnings call</a>. 
What Happened: On Tuesday, during the call, Jassy spoke about the pivotal role of &#8220;Q&#8221; in the future of software development. He stated that the AI chatbot will facilitate the transition of developers from Microsoft Windows to Linux.
&#8220;Today, developers can save months&nbsp;using Q to move from&nbsp;older versions of Java to&nbsp;newer, more secure and capable&nbsp;ones,&#8221; he said, adding, &#8220;In the near future, Q will help developers transform their dotNET code as well, helping them move from Windows to Linux.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/04/38488085/metas-chief-ai-scientist-reveals-mark-zuckerberg-was-snubbed-from-bidens-ai-safety-institute-elon-mu?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meta&#8217;s Chief AI Scientist Reveals Mark Zuckerberg Was &#8216;Snubbed&#8217; From Biden&#8217;s AI Safety Institute; Elon Musk Also Missing From The List</a>
Jassy also said that &#8220;Q&#8221; is not just a code generator but also a code tester, debugger, and transformer. The Amazon CEO highlighted its unique feature, &#8220;Agents,&#8221; which can autonomously perform various tasks, from implementing features to performing software upgrades.
&#8220;Developers can collaborate with the agent to review and iterate on the plan, and then the agent implements it, connecting multiple steps together and applying updates across multiple files, code blocks and test suites.&#8221; &#8220;It&#8217;s quite handy,&#8221; Jassy concluded.
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: The potential of &#8216;Q&#8217; to transform the software development landscape is significant, especially considering Amazon&#8217;s recent financial performance. 
The company reported&nbsp;first-quarter net sales of $143.3 billion, a 13% year-over-year increase, beating the Street consensus estimate of $142.5 billion, according to&nbsp;<a href="https://www.benzinga.com/pro/feature/newsfeed?gspk=bHVrZWphY29iaTUzNDg&amp;gsxid=tdEE0VrK8Jeg&amp;ref=lukejacobi5348" target="_blank" rel="noreferrer noopener">data from Benzinga Pro.</a>
However, &#8220;Q&#8221; has had its share of challenges. In January earlier this year, the <a href="https://www.benzinga.com/markets/equities/24/01/36588837/amazons-ai-chatbot-q-struggles-with-hallucinations-amid-criticism-for-rushed-launch">AI chatbot faced criticism</a> for producing incorrect outputs, or &#8216;hallucinations&#8217;, due to a rushed launch and the deployment of a less proficient version of Anthropic's Claude AI model. 
AMZN Price Action:&nbsp;At the time of writing, Amazon shares were up 1.23% in the after-hours session at $177.16, according to&nbsp;Benzinga Pro data.
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/24/04/38477795/elon-musks-prediction-for-domestic-robots-mark-zuckerbergs-massive-1b-bet-on-nvidia-gpus-and-more-th?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s Prediction For Domestic Robots, Mark Zuckerberg&#8217;s Massive $1B Bet On Nvidia GPUs And More: This Week In AI</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.

AMZN

Andy Jassy Envisions Amazon Chatbot 'Q' Helping Developer's Move Away From Microsoft Windows To Linux:  'It's Quite Handy'

As the cryptocurrency market braces for the upcoming Federal Open Market Committee (FOMC) meeting, a prominent crypto analyst has made a bold prediction about Bitcoin&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) immediate future.
What Happened: Micahël van de Poppe, a well-known crypto analyst, took to social media platform X to share his forecast for Bitcoin&#8217;s immediate future. Van de Poppe anticipates a potential dip in the price of Bitcoin, with a possible range of $55,000 to $58,000 before a rebound.
Van de Poppe&#8217;s post read, &#8220;Monthly close approaching for #Bitcoin and FOMC day tomorrow. I think we&#8217;ll see that sweep beneath $60K and potentially cascade towards $55-58K from which we&#8217;re finding the low and rotate back upwards. From there: Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) ETF hype in May to pick up momentum.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Monthly close approaching for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> and FOMC day tomorrow. I think we&#39;ll see that sweep beneath $60K and potentially cascade towards $55-58K from which we&#39;re finding the low and rotate back upwards. From there: Ethereum ETF hype in May to pick up momentum. <a href="https://t.co/Iki4De9mSF">pic.twitter.com/Iki4De9mSF</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1785364388330824109?ref_src=twsrc%5Etfw">April 30, 2024</a></blockquote>
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This prediction comes at a time when the market is experiencing a &#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38528542/bitcoin-dogecoin-shiba-inu-pumped-after-the-last-fomc-meeting-will-history-repeat-on-wedne">horrendous slow bleed</a>,&#8221; with most cryptocurrencies closing in the red for 15 out of the last 20 days, according to pseudonymous cryptocurrency trader Kevin.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38478293/shiba-inus-burn-rate-soars-cathie-wood-believes-ethereum-could-catch-up-to-bitcoin-and-mor?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu&#8217;s Burn Rate Soars, Cathie Wood Believes Ethereum Could Catch Up To Bitcoin And More: Top Crypto</a>
Why It Matters: The upcoming FOMC meeting is expected to have a significant impact on the cryptocurrency market. Kevin, in a recent tweet, emphasized the <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38528542/bitcoin-dogecoin-shiba-inu-pumped-after-the-last-fomc-meeting-will-history-repeat-on-wedne">importance of the meeting</a> as a potential catalyst for the next significant market move.
Van de Poppe&#8217;s prediction also aligns with his previous insights on market rotations and <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38523300/crypto-trader-michael-van-de-poppe-highlights-runs-in-solana-meme-coins-predicts-there-is-">altcoin seasons</a>. He believes that by identifying opportunities in altcoins and strategically rotating profits back into Bitcoin, investors can outperform the market and maintain their purchasing power in the face of inflation.
However, the market has also <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38535711/bitcoin-jesus-roger-ver-arrested-in-spain-on-tax-evasion-charges">seen some turbulence</a> with the recent arrest of Roger Ver, a prominent figure in the early days of Bitcoin, in Spain on tax evasion charges.
Price Action: Bitcoin is currently trading at $59,730, experiencing a 1.47% decline over the last 24 hours but showing a remarkable 35.22% increase year-to-date. Meanwhile, Ether is trading at $2,977, down 1.13% in the past 24 hours, yet still reflecting a solid 26.54% gain year-to-date, according to data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38480709/bitcoin-faces-potential-downturn-as-analysts-eye-second-danger-zone-but-what-happen?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Faces Potential Downturn As Analysts Eye &#8216;Second Danger Zone&#8217; — But What Happened To &#8216;Memecoin Supercycle?&#8217;</a>
Image Via Shutterstock 
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
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Analyst Color

$ETH

Is Bitcoin Heading For A Dip Ahead Of FOMC? Analyst Predicts Potential 'Cascade Towards $55-58K' Before Rebound

On Tuesday, the main U.S. stock indexes closed lower, with the Dow Jones Industrial Average finishing down 1.5% at 37,815.92, the S&amp;P500 falling by 1.6% to 5,035.69, and the Nasdaq declining by 2.04% to 15,657.82 at the end of the day&#8217;s trading session.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)
Amazon shares fell by 3.29% to close at $175, after reaching an intraday high of $182.99 and a low of $174.8. The e-commerce giant reported <a href="https://www.benzinga.com/news/earnings/24/04/38534302/amazon-q1-earnings-highlights-revenue-beat-eps-beat-aws-hits-100-billion-annual-run-rate-and-more">first-quarter net sales </a>of $143.3 billion, a 13% increase year-over-year, beating the Street consensus estimate. 
Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>)
AMD shares dipped by 1.14% to close at $158.38, with an intraday high of $162.29 and a low of $158.35. The chipmaker reported first-quarter results <a href="https://www.benzinga.com/news/earnings/24/04/38534910/amd-investors-pull-back-after-modest-q1-beat-ceo-touts-ai-chip-ramp-up">slightly ahead of expectations</a>, thanks to record data center revenue. However, the stock retreated in after-hours trading due to lukewarm second-quarter revenue guidance. 
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38519395/goldman-sachs-tempers-investor-excitement-on-tesla-self-driving-not-yet-an-eyes-off?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Goldman Sachs Tempers Investor Excitement On Tesla Self-Driving Tech In China: &#8216;Not Yet An Eyes-Off, Unsu</a>
Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>)
Super Micro shares fell by 3.54% to close at $858.80, after hitting an intraday high of $910.84 and a low of $851.08. The company reported third-quarter earnings of $6.65 per share, a 307.98% increase YoY, <a href="https://www.benzinga.com/news/earnings/24/04/38535630/super-micro-shares-dip-on-mixed-q3-results-eps-beat-sales-miss">beating the analyst consensus estimate</a>. However, quarterly sales of $3.85 billion missed the consensus estimate. 
Starbucks Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>)
Starbucks shares saw a slight increase of 0.18% to close at $88.49, with an intraday high of $88.99 and a low of $87.18. The company reported a 2% YoY decrease in second-quarter revenue to $8.6 billion, <a href="https://www.benzinga.com/news/earnings/24/04/38534321/starbucks-q2-earnings-revenue-miss-eps-miss-comps-down-4-and-more">missing the consensus estimate</a>. Comparable store sales declined 4% globally.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla shares dropped by 5.55% to close at $183.28, after reaching an intraday high of $190.95 and a low of $182.84. The shares <a href="https://www.benzinga.com/news/24/04/38527242/tesla-stock-is-trading-lower-tuesday-whats-going-on">pulled back</a> after rallying more than 15% on Monday following the company&#8217;s progress on its full self-driving technology rollout in China. 
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/news/24/04/38490818/if-you-invested-1000-in-chipotle-mexican-grill-a-decade-ago-this-is-how-much-itd-be-worth-now?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">If You Invested $1000 in Chipotle Mexican Grill a Decade Ago, This is How Much It&#8217;d Be Worth Now</a>
Photo by WHYFRAME on Shutterstock

SBUX

SMCI

TSLA

Amazon, AMD, Super Micro Computer, Starbucks, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Elon Musk&nbsp;has unfollowed prominent&nbsp;Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) investor&nbsp;Sawyer Merritt&nbsp;on X, formerly Twitter, due to an alleged breach of confidentiality.
What Happened: On Tuesday, a user on X, who goes by the name&nbsp;Brandon Smith on the platform, questioned Musk about this move stating that Merritt often breaks news about Tesla that employees don&#8217;t disclose to the tech billionaire. 
Musk responded,&nbsp;&#8220;Don't post leaks of confidential&nbsp;information and expect me to&nbsp;follow.&#8221;&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Don't post leaks of confidential information and expect me to follow
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1785405979573514425?ref_src=twsrc%5Etfw">April 30, 2024</a></blockquote>
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See Also:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38519395/goldman-sachs-tempers-investor-excitement-on-tesla-self-driving-not-yet-an-eyes-off?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Goldman Sachs Tempers Investor Excitement On Tesla Self-Driving Tech In China: &#8216;Not Yet An Eyes-Off, Unsupervised Product&#8217;</a>
Smith then defended Merritt, stating that if Merritt had received confidential information directly, he wouldn&#8217;t have posted it. He also requested Musk to give Merritt another chance.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If Sawyer was the one who directly received confidential info he wouldn't have posted it. Once the genie leaves the bottle… it's out of the bottle. If you join the spaces he's in regularly, he refrains from posting dubious "news" all the time. I ask you give him another chance.
&mdash; Brandon Smith (@BLSmith2112) <a href="https://twitter.com/BLSmith2112/status/1785406841695961180?ref_src=twsrc%5Etfw">April 30, 2024</a></blockquote>
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Not just Smith, but many other users on X defended Merritt. On the other hand, some people deduced that Merritt &#8220;amplified Elon's leaked email&#8221; and allegedly disclosed information about layoff. At the time of writing,&nbsp;Musk still wasn&#8217;t following Merritt.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to&nbsp;get&nbsp;all the latest tech developments&nbsp;delivered&nbsp;to your inbox.
<a href="https://pro.benzinga.com/dashboard">Benzinga</a> reached out to Merritt and he pointed us toward his explanation on X. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This is what happened: Omar and I posted an article from <a href="https://twitter.com/theinformation?ref_src=twsrc%5Etfw">@theinformation</a> last night that we saw online. It was a public article that referenced an internal Tesla email from Elon Musk to his executives.
&mdash; Sawyer Merritt (@SawyerMerritt) <a href="https://twitter.com/SawyerMerritt/status/1785426916482195795?ref_src=twsrc%5Etfw">April 30, 2024</a></blockquote>
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Why It Matters: Merritt, a well-known Tesla investor, has been in the spotlight for his outspoken support of the company and its CEO. In March 2024, Merritt&nbsp;<a href="https://www.benzinga.com/news/24/03/37886370/tesla-investor-claps-back-after-a-columnist-calls-elon-musk-mediocre-white-man-amid-spat-with-don-le">defended Musk</a>&nbsp;against an op-ed that labeled him a &#8220;mediocre white man.&#8221; 
He also&nbsp;<a href="https://www.benzinga.com/government/24/03/37648525/tesla-backs-investors-petition-to-fulfill-elon-musks-longstanding-regulatory-wish-stop-calling-ota-f">led a petition</a>&nbsp;supported by Tesla, urging the U.S. auto safety regulator to reconsider classifying over-the-air software updates for safety concerns as &#8220;recalls.&#8221;
Just earlier this week, Merritt humorously&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38515667/elon-musk-has-tears-of-laughter-as-tesla-investor-says-stock-is-up-one-gordon-johns">mocked a Tesla bear</a>, Gordon Johnson, after the company&#8217;s stock surged, signaling validation for Musk&#8217;s leadership. 
Merritt&#8217;s actions have often aligned with Musk&#8217;s vision, making this unfollowing incident all the more surprising.
Despite the unfollowing, it&#8217;s important to note that this incident does not necessarily indicate a significant rift between Musk and Merritt. However, it does raise questions about the handling of confidential information within the Tesla community.
Check out more of&nbsp;Benzinga&#8217;s&nbsp;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/24/04/38424000/mark-zuckerberg-shades-apple-vision-pro-once-again-calls-it-fashionable-ai-glasses-without-a-display?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Shades Apple Vision Pro Once Again, Calls It &#8216;Fashionable AI Glasses Without A Display&#8217;</a>
Disclaimer:&nbsp;This content was partially produced with&nbsp;the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was&nbsp;reviewed and published by Benzinga editors.

Elon Musk Unfollows Tesla Investor Sawyer Merritt Over Alleged Confidential Information Leak: 'Don't Post … And Expect Me To Follow'

Former Secretary of State Hillary Clinton warns of a more severe Trump presidency, citing his recent interviews with Time.
What Happened: On Tuesday, Clinton shared a post on X, formerly Twitter, highlighting the potential dangers of a second Trump presidency. She quoted an excerpt from a Time article, which detailed Trump&#8217;s plans for a potential future term.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If Donald Trump becomes president again, it wouldn&#39;t be as bad as it was last time. It would be much, much worse. Read about his plans, as he describes them in new TIME interviews, and take them seriously. <a href="https://t.co/RezUaOrJ3i">https://t.co/RezUaOrJ3i</a> <a href="https://t.co/Ds4E4iRRmC">pic.twitter.com/Ds4E4iRRmC</a>
&mdash; Hillary Clinton (@HillaryClinton) <a href="https://twitter.com/HillaryClinton/status/1785348329334833386?ref_src=twsrc%5Etfw">April 30, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/24/04/38479082/elon-musk-gives-one-word-response-to-joe-bidens-dig-at-donald-trump-at-white-house-correspondents-di?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Gives One-Word Response To Joe Biden&#8217;s Dig At Donald Trump At White House Correspondents&#8217; Dinner</a>
The excerpt shared by Clinton from Time journalist Eric Cortellessa paints a picture of an &#8220;imperial presidency&#8221; where Trump would be willing to deploy the U.S. military for mass deportations, allow states to monitor women&#8217;s pregnancies, and potentially fire U.S. Attorneys who don&#8217;t follow his orders.
Why It Matters: The post comes in the wake of a series of interviews where Trump discussed his potential plans if re-elected. Trump <a href="https://www.benzinga.com/news/24/04/38539108/trump-says-if-supreme-court-decides-president-doesnt-get-immunity-then-biden-will-be-prosecuted-for">hinted at the prosecution</a> of President Joe Biden, contingent on the Supreme Court&#8217;s decision on presidential immunity.
Recent polls, nearing the six-month mark until the 2024 election, <a href="https://www.benzinga.com/general/politics/24/04/38537950/trump-vs-biden-former-president-holds-lead-in-all-7-swing-states-which-candidate-does-robert-f-k">suggest a close race</a> between Trump and Biden, with Trump leading in all seven swing states, including those won by Biden in 2020. 
Clinton has previously criticized Trump&#8217;s <a href="https://www.benzinga.com/news/24/04/38347162/hillary-clinton-says-donald-trump-would-like-to-do-what-vladimir-putin-does-including-kill-his-oppos">authoritarian tendencies</a>. Earlier, she suggested that Trump would be happy to suppress his opposition in a manner similar to Russian President Vladimir Putin.
She has also criticized Trump&#8217;s policies <a href="https://www.benzinga.com/news/24/04/38328076/hillary-clinton-says-trump-is-on-your-side-if-you-are-a-billionaire-otherwise-good-luck">favoring the wealthy</a>, as reported in another Benzinga article, where she responded to a post criticizing Trump&#8217;s tax policies.
Photo Courtesy: Evan El-Amin On Shutterstock.com
Read Next: <a href="https://www.benzinga.com/news/24/04/38507901/trump-kennedy-jr-feud-escalates-as-polls-indicate-gap-between-democract-gop-candidates-narrowing?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump-Kennedy Jr. Feud Escalates As Polls Indicate Gap Between Democract, GOP Candidates Narrowing</a>
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Hillary Clinton On Another Trump Presidency: 'It Wouldn't Be As Bad As It Was Last Time, It Would Be...'

Martin Shkreli, the infamous former pharmaceutical executive, recently made an intriguing comment on social media platform X, hinting at his prison life. This comes as Changpeng Zhao, the co-founder of Binance (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>), has been sentenced to prison.
What Happened: Shkreli, who is known as the &#8220;Pharma Bro,&#8221; took to social media platform X to comment on a post by billionaire Binance Co-Founder Changpeng Zhao. Shkreli wrote, &#8220;burgers on wednesday, chicken on Thursday,&#8221; hinting at the prison menu.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">burgers on wednesday, chicken on thursday
&mdash; Martin Shkreli (e/acc) (@MartinShkreli) <a href="https://twitter.com/MartinShkreli/status/1785466049711759561?ref_src=twsrc%5Etfw">May 1, 2024</a></blockquote>
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Shkreli has been known for sharing <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37764805/sam-bankman-fried-considered-coming-out-as-a-republican-on-tucker-carlsons-show-after-ftxs">advice on prison life</a>. In November, he boasted to Tucker Carlson that Sam Bankman-Fried had sought his advice on serving time in prison, as the FTX founder faced a potential sentence of over 100 years.
Shkreli was released from federal prison in May 2022 after serving approximately five years. Following a lawsuit by the Federal Trade Commission, he was ordered to repay $64 million and faced a lifetime ban, which he contested as excessive and limiting his freedom of speech.
According to Martin Shkreli&#8217;s verified account on X, he <a href="https://x.com/wagieeacc/status/1778826437576790225">announced</a> that he would be moving his account to &#8216;@martinshkreli,&#8217; expressing apologies for any messages sent from the previous account due to it being set as default on his iPhone and acknowledging his laziness.
On the other hand, Zhao, the co-founder and former CEO of Binance, has been <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38532677/former-binance-ceo-changpeng-zhao-sentenced-to-four-months-in-prison">sentenced to four months in prison</a> for his involvement in the failure to establish an effective anti-money laundering (AML) program at the cryptocurrency exchange. Despite his personal situation, Zhao emphasized the importance of compliance in the crypto industry.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38508352/bitcoins-short-term-holder-realized-price-at-59-800-analyst-says-falling-below-this?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin&#8217;s Short-Term Holder Realized Price At $59,800; Analyst Says Falling Below This Could Trigger Notable &#8216;Price Corrections&#8217;</a>
Why It Matters: Zhao&#8217;s legal troubles have been a point of concern in the cryptocurrency industry. Just a week before his sentencing, Zhao <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38315241/binance-secures-major-win-with-dubai-crypto-license-after-changpeng-zhao-surrenders-voting">surrendered his voting power in Binance</a>, which led to the exchange securing a crucial regulatory license in Dubai. This move was seen as a significant step towards Binance&#8217;s compliance with global regulations.
Earlier in April, the U.S. Department of Justice (DOJ) had <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38401035/binance-founder-changpeng-zhao-apologizes-doj-pushes-for-3-year-sentence">pushed for a three-year prison term</a> for Zhao, citing serious lapses in regulatory compliance during his tenure at Binance. Despite the legal challenges, Binance has continued to operate, and Zhao&#8217;s recent tweet indicates his commitment to the industry&#8217;s compliance and development.
Price Action: As of the latest update, BNB is trading at $573.32, marking a decrease of 4.76% over the past 24 hours and a 5.42% decline over the last week. Meanwhile, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is currently priced at $60,215.92, reflecting a 6.73% drop in the last 24 hours, according to the data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38478293/shiba-inus-burn-rate-soars-cathie-wood-believes-ethereum-could-catch-up-to-bitcoin-and-mor?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu&#8217;s Burn Rate Soars, Cathie Wood Believes Ethereum Could Catch Up To Bitcoin And More: Top Crypto</a>
Binance&#8217;s Changpeng Zhao. Photo via Flickr
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
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The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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$BNB

'Pharma Bro' Martin Shkreli Teases Binance Co-Founder Changpeng Zhao With A Supposed Prison Menu: 'Burgers On Wednesday, Chicken On Thursday'

Amazon.com Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) CEO&nbsp;Andy Jassy&nbsp;has expressed optimism about the future of the company&#8217;s&nbsp;Amazon Web Services&nbsp;or AWS during <a href="https://www.benzinga.com/news/earnings/24/04/38534302/amazon-q1-earnings-highlights-revenue-beat-eps-beat-aws-hits-100-billion-annual-run-rate-and-more">the first-quarter 2024</a> earnings call.
What Happened: On Tuesday, during the call, Jassy highlighted the potential for AWS, stating that despite the segment&#8217;s&nbsp;$100 billion-plus annualized revenue run&nbsp;rate, over 85%&nbsp;of the global IT spend&nbsp;is still on-premises. &#8220;We remain very bullish on AWS.&#8221;
He also noted the impending rise of gen AI, which is expected to be predominantly cloud-based&nbsp;over the next 10 to&nbsp;20 years, presenting a significant opportunity for AWS. &#8220;There is a very large opportunity in front of us,&#8221; he stated. 
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/04/38480983/giant-leap-for-apple-new-leak-of-iphone-16-lineup-confirms-recent-rumors-about-screen-sizes-and-came?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Giant Leap For Apple? New Leak Of iPhone 16 Lineup Confirms Recent Rumors About Screen Sizes And Camera Bump</a>
Jassy went on to highlight AWS&#8217;s competitive edge, which is attracting more companies to shift&nbsp;their AI focus to AWS.
&#8220;We expect the combination of&nbsp;AWS&#8217; reaccelerating growth and high&nbsp;demand for gen AI to&nbsp;meaningfully increase year-over-year capital expenditures&nbsp;in 2024, which given the&nbsp;way the AWS business model&nbsp;works is a positive sign&nbsp;of the future growth,&#8221; the Amazon CEO said, adding, &#8220;The more demand AWS has, the more we have to procure new data centers, power and hardware.&#8221;
Why It Matters: In April 2024, it was reported that the <a href="https://www.benzinga.com/news/24/01/36578155/amazon-stock-is-trading-higher-whats-going-on">workforce reductions in AWS</a>, were part of the company&#8217;s efforts to streamline operations and pivot towards digital. At the time, the e-commerce giant reported cited overlapping roles as a reason behind these cuts. 
However, despite this, AWS has continued to innovate, launching services such as&nbsp;<a href="https://www.benzinga.com/news/24/04/38066196/amazon-aws-launches-deadline-cloud-to-transform-media-and-entertainment-content-creation-rendering">Deadline Cloud</a>&nbsp;to transform media and entertainment content creation and rendering.
Meanwhile, in the first quarter, Amazon&#8217;s net sales reached $143.3 billion, marking a 13% increase compared to the previous year and surpassing the Street&#8217;s estimated net sales of $142.5 billion, according to&nbsp;<a href="https://www.benzinga.com/pro/feature/newsfeed?gspk=bHVrZWphY29iaTUzNDg&amp;gsxid=tdEE0VrK8Jeg&amp;ref=lukejacobi5348" target="_blank" rel="noreferrer noopener">data from Benzinga Pro.</a>
AMZN Price Action: At the time of writing, Amazon shares were up by 1.23% in the after-hours session at $177.16, according to Benzinga Pro data.
Photo via Shutterstock.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/04/38509476/while-mark-zuckerberg-led-meta-battles-advertiser-complaints-elon-musk-continues-to-thrash-facebook?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">While Mark Zuckerberg-Led Meta Battles Advertiser Complaints, Elon Musk Continues To Thrash Facebook, Instagram For Allegedly Stealing &#8216;Credit For Traffic&#8217;</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Amazon's Andy Jassy Remains Bullish On AWS, Sees 'Very Large Opportunity' And Expects 'Meaningful' CapEx Increase In 2024

Top Democrats have rallied to shield Speaker Mike Johnson (R-La.) from a potential ouster threat by Rep. Marjorie Taylor Greene (R-Ga.), further intensifying the ongoing tensions within the House of Representatives.
What Happened: The debate over Johnson&#8217;s leadership reached a climax on Tuesday. Greene, who has been threatening to oust Johnson for over a month, stated that the Democrats&#8217; intervention was the last straw in her list of grievances against the Speaker, <a href="https://thehill.com/homenews/4634185-johnson-motion-to-vacate-greene-democrats-rescue/">reported</a> The Hill.
Greene accused Johnson of making &#8220;slimy&#8221; deals with Democrats and urged him to switch parties. She also pledged to force a vote on his removal, although she has not yet revealed when she intends to bring her resolution to the floor.
Leading Democrats, including Minority Leader Hakeem Jeffries (N.Y.), Democratic Whip Katherine Clark (Mass.), and House Democratic Caucus Chair Pete Aguilar (Calif.), have announced their intention to defend Johnson. Their strategy is to support a proposal to table Greene&#8217;s resolution, thereby preventing it from reaching the floor.
See Also: <a href="https://www.benzinga.com/news/24/04/38477150/biden-vs-trump-contest-could-be-lost-cause-for-one-candidate-if-history-were-anything-to-go-by-accor?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Biden Vs. Trump Contest Could Be Lost Cause For One Candidate If History Were Anything To Go By, According To Pollster</a>
Why It Matters: Greene&#8217;s dissatisfaction with Johnson&#8217;s leadership has been brewing for some time. This month, she <a href="https://www.benzinga.com/news/24/04/38084745/marjorie-taylor-greene-brands-mike-johnson-a-democrat-comparable-to-nancy-pelosi-literally-turned-in">likened</a> Johnson to a Democrat, criticizing him for striking a bipartisan deal on a $1.2 trillion funding bill.
Later, she called for <a href="https://www.benzinga.com/news/24/04/38349699/marjorie-taylor-greene-says-mike-johnsons-speakership-is-over-after-house-passes-ukraine-aid-package">Johnson&#8217;s resignation</a> following the House&#8217;s approval of a new aid package for Ukraine. Despite former President Donald Trump&#8217;s endorsement of Johnson, Greene <a href="https://www.benzinga.com/news/24/04/38394246/trumps-endorsement-fails-to-quell-marjorie-taylor-greenes-conservative-rebellion-against-speaker-mik">continued to voice her discontent</a>.
Johnson, on the other hand, dismissed concerns about being a Speaker supported by Democrats, stating that he leads the entire House, not just the GOP conference. He emphasized his conservative Republican philosophy and record, and vowed to continue governing based on those principles.
Images via Shutterstock
Read Next: <a href="https://www.benzinga.com/news/24/04/38482489/ukrainian-troops-retreat-as-conflict-with-russia-intensifies-in-eastern-front-zelenskyy-urges-us-for?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ukrainian Troops Retreat As Conflict With Russia Intensifies In Eastern Front, Zelenskyy Urges US For Swift Arms Deliveries</a>
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 The GPT-4-based Benzinga Neuro content generation system exploits the 
 extensive Benzinga Ecosystem, including native data, APIs, and more to 
 create comprehensive and timely stories for you. 
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Marjorie Taylor Greene's Ouster Threat Against Mike Johnson Gets Top Democrats Rallying Behind House Speaker

It is never too late to invest in mutual funds for retirement. As such, if you plan to invest in some of the best funds, the Zacks Mutual Fund Rank can provide you with valuable guidance.
The easiest, most reliable way to judge a mutual fund&#39;s quality over time is by analyzing its performance, diversification, and fees. The Zacks Mutual Fund Rank, which covers over 19,000 mutual funds, has helped us identify three outstanding options that are perfect for any long-term investors&#39; portfolios that is retirement-focused.
Let&#39;s break down some of the mutual funds with the top Zacks Mutual Fund Rank and the lowest fees.
Thrivent Large Cap Value Fund A (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aautx#NASDAQ">AAUTX</a>): 0.85% expense ratio and 0.45% management fee. AAUTX is a Large Cap Value fund. These funds invest in stocks with a market cap of $10 billion of more, but whose share prices do not reflect their intrinsic value. AAUTX has achieved five-year annual returns of an astounding 12.4%.
RBB Free Market US Equity (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fmuex#NASDAQ">FMUEX</a>): 0.55% expense ratio and 0.49% management fee. FMUEX is an All Cap Growth mutual fund. In order to increase diversification, these funds have holdings across small, medium, and large-cap levels. FMUEX, with annual returns of 11.41% over the last five years, is a well-diversified fund with a long track record of success.
TIAA-CREF Small Cap Equity Premier (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsrpx#NASDAQ">TSRPX</a>): 0.57% expense ratio and 0.4% management fee. TSRPX is a Small Cap Blend mutual fund, and usually targets stocks with market caps of less than $2 billion, letting investors diversify their funds among other kinds of small-cap equities. With a five-year annual return of 10.21%, this fund is a well-diversified fund with a long track record of success.
We hope that your investment advisor (if you use one) has you invested in one or all of the top-ranked mutual funds we&#39;ve reviewed. But if that isn&#39;t the case, it might be time to have a conversation or reconsider this vitally important relationship.
<a href="https://www.zacks.com/stock/news/2264701/should-you-add-these-3-top-performing-mutual-funds-to-your-portfolio?cid=CS-BENZ-FT-fundamental_analysis|top_ranked_mutual_fund-2264701">To read this article on Zacks.com click here.</a>

Mutual Funds

AAUTX

FMUEX

TSRPX

Should You Add These 3 Top-Performing Mutual Funds to Your Portfolio?

Visa (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/v#NYSE">V</a>) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.
Shares of this global payments processor have returned -2.3% over the past month versus the Zacks S&amp;P 500 composite&#39;s -2.5% change. The Zacks Financial Transaction Services industry, to which Visa belongs, has lost 4.3% over this period. Now the key question is: Where could the stock be headed in the near term?
While media releases or rumors about a substantial change in a company&#39;s business prospects usually make its stock &#39;trending&#39; and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.
Earnings Estimate Revisions
Here at Zacks, we prioritize appraising the change in the projection of a company&#39;s future earnings over anything else. That&#39;s because we believe the present value of its future stream of earnings is what determines the fair value for its stock.
Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock&#39;s fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.
Visa is expected to post earnings of $2.41 per share for the current quarter, representing a year-over-year change of +11.6%. Over the last 30 days, the Zacks Consensus Estimate has changed -1.6%.
The consensus earnings estimate of $9.90 for the current fiscal year indicates a year-over-year change of +12.9%. This estimate has changed +0.2% over the last 30 days.
For the next fiscal year, the consensus earnings estimate of $10.98 indicates a change of +10.9% from what Visa is expected to report a year ago. Over the past month, the estimate has changed -0.8%.
With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock&#39;s near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Visa.
The chart below shows the evolution of the company&#39;s forward 12-month consensus EPS estimate:
12 Month EPS
Projected Revenue Growth
Even though a company&#39;s earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It&#39;s almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company&#39;s potential revenue growth is crucial.
In the case of Visa, the consensus sales estimate of $8.89 billion for the current quarter points to a year-over-year change of +9.4%. The $35.73 billion and $39.12 billion estimates for the current and next fiscal years indicate changes of +9.4% and +9.5%, respectively.
Last Reported Results and Surprise History
Visa reported revenues of $8.78 billion in the last reported quarter, representing a year-over-year change of +9.9%. EPS of $2.51 for the same period compares with $2.09 a year ago.
Compared to the Zacks Consensus Estimate of $8.6 billion, the reported revenues represent a surprise of +2.07%. The EPS surprise was +3.29%.
The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates each time over this period.
Valuation
No investment decision can be efficient without considering a stock&#39;s valuation. Whether a stock&#39;s current price rightly reflects the intrinsic value of the underlying business and the company&#39;s growth prospects is an essential determinant of its future price performance.
While comparing the current values of a company&#39;s valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S) and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock&#39;s price.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Visa is graded D on this front, indicating that it is trading at a premium to its peers.
Conclusion
The facts discussed here and much other information on Zacks.com might help determine whether or not it&#39;s worthwhile paying attention to the market buzz about Visa. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
<a href="https://www.zacks.com/stock/news/2264790/visa-inc-v-is-a-trending-stock-facts-to-know-before-betting-on-it?cid=CS-BENZ-FT-tale_of_the_tape|most_searched_stocks-2264790">To read this article on Zacks.com click here.</a>

Visa Inc. Is a Trending Stock: Facts to Know Before Betting on It

Tesla (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) has recently been on Zacks.com&#39;s list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock&#39;s performance in the near future.
Over the past month, shares of this electric car maker have returned +10.8%, compared to the Zacks S&amp;P 500 composite&#39;s -2.5% change. During this period, the Zacks Automotive - Domestic industry, which Tesla falls in, has gained 6.5%. The key question now is: What could be the stock&#39;s future direction?
Although media reports or rumors about a significant change in a company&#39;s business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.
Earnings Estimate Revisions
Here at Zacks, we prioritize appraising the change in the projection of a company&#39;s future earnings over anything else. That&#39;s because we believe the present value of its future stream of earnings is what determines the fair value for its stock.
We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors&#39; interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
Tesla is expected to post earnings of $0.61 per share for the current quarter, representing a year-over-year change of -33%. Over the last 30 days, the Zacks Consensus Estimate has changed -13.4%.
The consensus earnings estimate of $2.48 for the current fiscal year indicates a year-over-year change of -20.5%. This estimate has changed -17.3% over the last 30 days.
For the next fiscal year, the consensus earnings estimate of $3.29 indicates a change of +32.5% from what Tesla is expected to report a year ago. Over the past month, the estimate has changed -17.1%.
With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock&#39;s near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #5 (Strong Sell) for Tesla.
The chart below shows the evolution of the company&#39;s forward 12-month consensus EPS estimate:
12 Month EPS
Revenue Growth Forecast
While earnings growth is arguably the most superior indicator of a company&#39;s financial health, nothing happens as such if a business isn&#39;t able to grow its revenues. After all, it&#39;s nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it&#39;s important to know a company&#39;s potential revenue growth.
For Tesla, the consensus sales estimate for the current quarter of $24.99 billion indicates a year-over-year change of +0.3%. For the current and next fiscal years, $99.74 billion and $114.19 billion estimates indicate +3.1% and +14.5% changes, respectively.
Last Reported Results and Surprise History
Tesla reported revenues of $21.3 billion in the last reported quarter, representing a year-over-year change of -8.7%. EPS of $0.45 for the same period compares with $0.85 a year ago.
Compared to the Zacks Consensus Estimate of $22.15 billion, the reported revenues represent a surprise of -3.83%. The EPS surprise was -2.17%.
Over the last four quarters, the company surpassed EPS estimates just once. The company topped consensus revenue estimates just once over this period.
Valuation
No investment decision can be efficient without considering a stock&#39;s valuation. Whether a stock&#39;s current price rightly reflects the intrinsic value of the underlying business and the company&#39;s growth prospects is an essential determinant of its future price performance.
While comparing the current values of a company&#39;s valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S) and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock&#39;s price.
As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Tesla is graded F on this front, indicating that it is trading at a premium to its peers.
Bottom Line
The facts discussed here and much other information on Zacks.com might help determine whether or not it&#39;s worthwhile paying attention to the market buzz about Tesla. However, its Zacks Rank #5 does suggest that it may underperform the broader market in the near term.
<a href="https://www.zacks.com/stock/news/2264785/tesla-inc-tsla-is-attracting-investor-attention-here-is-what-you-should-know?cid=CS-BENZ-FT-tale_of_the_tape|most_searched_stocks-2264785">To read this article on Zacks.com click here.</a>

Tesla, Inc. is Attracting Investor Attention: Here is What You Should Know

Coinbase (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/coin#NASDAQ">COIN</a>), the largest U.S. crypto exchange by trading volume, is rolling out support for the Lightning Network from today, enabling a faster and cheaper way for its users to send, receive or pay with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)&nbsp;directly from their account. Previously, bitcoin transfers on Coinbase were processed on-chain, meaning transactions could take between 10 minutes and two hours, incurring high fees during periods of network congestion.&nbsp;Launched in 2017, the Lightning Network is a Layer 2 protocol built on top of the Bitcoin blockchain, designed to address scalability issues via bi-directional payment channels that enable near-instant, low-fee transactions off-chain without immediate settlement on the base layer. &quot;Growing Bitcoin adoption increases economic freedom in the world. I&#39;m thrilled that our Lightning integration is live to make Bitcoin more useful and accessible worldwide&quot; Coinbase&#39;s protocol specialist and Lightning integration lead Viktor Bunin told The Block. &quot;Offering faster and cheaper BTC payments through our partnership with Lightspark is another huge milestone for the ecosystem.&quot; Fees on the Lightning Network are broken down into a flat rate base fee as low as one satoshi &mdash; the smallest unit of bitcoin and equivalent to less than $0.01 &mdash; and a liquidity provider fee or fee rate as a percentage charged on the value of the payment. ​​Node operators on the network can set their fees at varying levels to compensate for locking up liquidity.
Read the <a href="https://www.theblock.co/post/291662/coinbase-lightning-network-lightspark?utm_source=benzinga&amp;utm_medium=rss&amp;utm_campaign=Coinbase+rolls+out+Lightning+Network+support+in+collaboration+with+Lightspark">full story</a> at The Block.

Events

COIN

Coinbase Rolls Out Lightning Network Support in Collaboration with Lightspark

<div>Nearly a week after the body of Dave Schultz was discovered in a field less than a mile from where his abandoned red- and white-striped Peterbilt with a loaded trailer of pigs was located in Sac County, Iowa, his family has more questions than answers.</div>

The Wall Lake, Iowa, man's widow, Sarah Schultz, says she's relieved that Dave's body has been found. But she and other family members still don't know how he died and why it took 155 days for the 53-year-old's body to be found in an area that had been heavily searched after he was reported missing on Nov. 21, 2023.

"It's good that he was found — at least we know where he is and we can be at ease with that, even though we don't know what happened yet" Sarah Schultz told FreightWaves. "I've been dreading this day, but I'm relieved it's over. It's exhausting to wonder and wait every time a body is found to find out if it was Dave. I feel exhausted."

Sarah said she received a call Wednesday from Sac County Sheriff Ken McClure that someone had reported finding a body in a field. She confirmed the boots and truck keys found at the scene belonged to her husband.

<div>
On Thursday, the Iowa Office of the State Medical Examiner conducted a forensic autopsy and identified Dave by his dental records.
</div>

Darrell Simmons, special agent in charge at the Iowa Department of Safety, said investigators don't suspect foul play based on the initial autopsy but that it may take up to six weeks before histology and toxicology reports are completed.

"Once the final autopsy report comes back, I want to sit down with the medical examiner and go over everything and make sure that we are confident in what we're going to release at that point and time" Simmons told FreightWaves. "We will probably never understand everything that happened, but when we get more of this information back from the autopsy lab results, we can hopefully get some idea of what led up to this or why this might have happened." 

<h2 id="h-a-mysterious-disappearance">A mysterious disappearance</h2>

Sarah said she last saw her husband alive around 7 p.m. on Nov. 20, after he stopped by the house to change clothes before heading out to pick up a Seaboard Foods load of 120 pigs near Eagle Grove, Iowa. Seaboard Foods is the third-largest pig producer in the United States and the fourth-leading pork processor. It has farm operations in Iowa, Oklahoma, Kansas, Texas and Colorado, according to its website.

<div>
However, authorities say Dave never arrived for his midnight appointment at the site where he was supposed to offload the pigs: the Wiechman Pig Co. buying station in Sac City, Iowa. Wiechman's home office is in Fremont, Nebraska, and it has 16 locations in the Midwest, including six pig-buying stations in Iowa.
</div>

Around 3 p.m. on Nov. 21, a Sac County secondary road employee reported seeing Dave's custom rig in the northbound lane of County Road N-14, but no Dave. The rig was facing the opposite direction of the buying station where Dave was scheduled to arrive with his load of pigs.

In the cab of his truck, investigators found his wallet, including his driver's license, cellphone and around $2,000 in cash, which Sarah confirmed he had in his wallet earlier. His coat was in a nearby ditch.

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After the rig was found, law enforcement searched the immediate area on foot and with a K-9, according to a Dec. 9 press release by McClure.

"The Sac County Sheriff's Office requested assistance from the Iowa State Patrol airwing unit" McClure said in the release. "An airplane was dispatched from Iowa City that was equipped with forward-looking infrared. A State Patrol pilot flew over the surrounding area and did not detect a heat signature that would be consistent with a person. For the next two days, law enforcement, area firefighters and volunteers expanded the ground search on foot and with the use of drones.  Nothing of significant value was located."

Investigators obtained video footage showing Dave at 11:15 p.m. on Nov. 21 at the Marker 126 Travel Center east of Fort Dodge, Iowa, on U.S. Highway 20. According to the press release, Dave was there for 16 minutes. He is then seen on a Department of Transportation camera on Highway 20 west of the truck stop heading west.

"This was the last time David was seen" McClure said. "Cellphone data obtained from David Schultz's phone corroborates this timeline."

Aiding in the search were members of the nonprofit search-and-rescue group the United Cajun Navy, led by Jake Rowley, the organization's Midwest team leader, along with countless volunteers. They searched over 100,000 acres in the area where the tractor-trailer was found, but without success.

<div>
Sarah said she is convinced something happened at the truck stop because when the rig was found, it was facing the wrong direction and the headlights and flashers were off. Dave wouldn't have done that, she said, because a vehicle traveling on that part of the highway could have struck the back of the rig in the dark.
</div>

"I still believe he was taken because I've talked to people who searched that field and said there's no way in hell they could have missed him" she said.

Simmons declined to comment further until final autopsy results are available.

<h2 id="h-time-marches-on">Time marches on</h2>

In the five months since Dave was first reported missing, Sarah said she has tried to stay strong for the couple's 10-year-old twin boys, Isaack and Joseph, who have been in grief counseling since their dad went missing.

"I never believed that Dave had taken off and left us to start a new life. Anybody that knew Dave knew he wouldn't do that" she said. "He wouldn't have left me or the boys."

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Prior to Dave's disappearance, he had recently purchased a bright yellow Peterbilt and was fixing it up. Sarah said the truck has since been sold. The red and white Pete that Dave was driving on the night he went missing is also for sale but needs a little work first, she said.

"I'm hoping it will sell soon because Dave didn't have life insurance" Sarah said. "He was in good shape; he could outrun our 10-year-old boys. We didn't count on him dying so young."

Sarah's cousin, Ramie Uren, has set up a GoFundMe campaign to help with the family's financial expenses.

No date has been set for his funeral as Sarah said she wants to ensure that Dave's family is included in the planning.

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"I have a meeting on Tuesday after I drop the kids off at school" she said. "I know Dave's brother will be there, and hopefully his parents will be there, too, to start the arrangements and picking things out for the service. I've never planned a funeral before. I'm still trying to make sense of why this happened and what happened."

The post <a href="https://www.freightwaves.com/news/widow-suspects-foul-play-after-missing-iowa-truckers-body-found">Widow suspects foul play after missing Iowa trucker's body found</a> appeared first on <a href="https://www.freightwaves.com">FreightWaves</a>.

Media

Widow Suspects Foul Play After Missing Iowa Trucker's Body Found

Former U.S. President Donald Trump expressed his disappointment with Benjamin Netanyahu, the former Prime Minister of Israel.
What Happened: Trump revealed his dissatisfaction with Netanyahu in an <a href="https://time.com/6972022/donald-trump-transcript-2024-election/">interview</a> with Time over an incident involving Qassem Soleimani, the head of Iran&#8217;s elite Quds Force. &#8220;I had a bad experience with Bibi. And it had to do with Soleimani, because as you probably know by now, he dropped out just before the attack,&#8221; Trump stated.
Trump further expressed his disappointment over the incident that took place on October 7, which he believes should not have happened under Netanyahu&#8217;s watch. &#8220;No, it happened on his watch. And I think it&#8217;s had a profound impact on him, despite everything,&#8221; he said.
See Also: <a href="https://www.benzinga.com/news/24/04/38478689/amid-latest-indictments-former-trump-aide-slams-ex-president-over-treatment-of-bodies-around-him-he?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amid Latest Indictments, Former Trump Aide Slams Ex-President Over Treatment Of &#8216;Bodies Around Him&#8217;: &#8216;He Takes Out Everybody Who Is Loyal To Him&#8217;</a>
Trump also responded positively to the possibility of working with former deputy prime minister Benny Gantz, but did not give a definitive answer. &#8220;I think Benny Gantz is good, but I&#8217;m not prepared to say that,&#8221; he said. This comes at a time when Netanyahu&#8217;s approval ratings in Israel are reportedly low, according to Trump.
Why It Matters: This isn&#8217;t the first time Trump has criticized Netanyahu. In October 2023, Trump accused Israel of an <a href="https://www.benzinga.com/news/23/10/35211523/trump-slams-israels-benjamin-netanyahu-amid-ongoing-war-with-hamas-ill-never-forget-bibi-let-us-down">alleged intelligence failure</a> during the killing of Soleimani amid the ongoing conflict with Hamas.
Furthermore, Trump has voiced concerns over Israel&#8217;s <a href="https://www.benzinga.com/24/03/37925997/trump-calls-for-end-to-israels-gaza-offensive-amidst-falling-global-support-finish-up-your-war">dwindling international backing</a> due to its continued offensive in Gaza. In an interview with Israeli newspaper Israel Hayom, he urged Israel to &#8220;finish up your war. You have to finish it up. You&#8217;ve got to get it done.&#8221;
Photo via Shutterstock
Read Next: <a href="https://www.benzinga.com/news/24/04/38508828/edward-snowden-releases-genie-out-of-the-bottle-his-ongoing-poll-shows-people-want-neither-trump-nor?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Edward Snowden Releases &#8216;Genie&#8217; Out Of The Bottle, His Ongoing Poll Shows People Want &#8216;Neither Trump Nor Biden&#8217;</a>
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 Engineered by 
 Benzinga Neuro, Edited by 
 
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 Shivdeep Dhaliwal</a> 
 
 
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 The GPT-4-based Benzinga Neuro content generation system exploits the 
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 </div>

Trump Says He Had A 'Bad Experience' With Netanyahu During The Qassem Soleimani Incident: 'He Dropped Out'

In a recent <a href="https://time.com/6972022/donald-trump-transcript-2024-election/">interview</a> with Time, former President Donald Trump discussed the potential prosecution of President Joe Biden and his family, contingent on the Supreme Court&#8217;s decision on presidential immunity.
What Happened: Trump hinted at the possibility of Biden being prosecuted for &#8220;20 different acts,&#8221; accusing him of mishandling situations in Afghanistan and Ukraine, and causing disorder at the U.S. border. At the same time, he clarified that none of those potential acts had anything to do with him.
However, he also stressed the importance of presidential immunity, arguing that without it, the presidency would be reduced to a ceremonial role.
&#8220;They&#8217;re going to make a ruling on presidential immunity. If they said that a president doesn&#8217;t get immunity, then Biden, I am sure, will be prosecuted for all of his crimes, because he&#8217;s committed many crimes,&#8221; said Trump.
When asked by the interviewer if prosecuting political opponents is something that is done in &#8220;Banana Republics,&#8221; he said, &#8220;That's what's happening now.&#8221;
On the topic of his own legal issues, Trump expressed dissatisfaction with a non-criminal case he is currently involved in, criticizing the judge and alleging bias against him. He also insinuated potential bias from the Biden administration in his legal troubles.
&#8220;The DOJ worked with Leticia James on my case. The DOJ worked with deranged Jack Smith. He&#8217;s a deranged person on my case. No, no, this is all Biden,&#8221; said the ex-president.
See Also: <a href="https://www.benzinga.com/news/24/04/38521425/un-confirms-north-korean-ballistic-missile-landed-in-ukraines-kharkiv-in-january-amid-war-with-russi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">UN Confirms North Korean Ballistic Missile Landed In Ukraine&#8217;s Kharkiv In January Amid War With Russia</a>
Why It Matters: The Supreme Court is expected to rule on presidential immunity in the coming weeks, a decision that could have far-reaching implications for both sitting and former presidents.
Trump&#8217;s comments on presidential immunity and potential prosecution of Biden come in the backdrop of his own legal battles and political aspirations. In March, he called for the prosecution of former Rep. Liz Cheney (R-Wyo.) over her alleged <a href="https://www.benzinga.com/news/24/03/37769884/trump-says-liz-cheney-should-be-prosecuted-for-what-shes-done-to-the-country-cheney-hits-back-youre">suppression of evidence</a> regarding the Jan. 6 Capitol insurrection.
In April, Trump faced a criminal trial in New York, where he <a href="https://www.benzinga.com/general/politics/24/04/38261008/donald-trump-argues-political-prosecution-before-jury-selection-in-new-york-trial-judge-not-goin">argued &#8216;political prosecution&#8217; </a>before the jury selection process began. His comments on presidential immunity could be seen in the light of these ongoing legal issues.
Furthermore, Trump is reportedly <a href="https://www.benzinga.com/general/politics/24/04/38537950/trump-vs-biden-former-president-holds-lead-in-all-7-swing-states-which-candidate-does-robert-f-k">leading in all seven swing states</a> in the potential 2024 election race against Biden. His comments on prosecuting Biden could be seen as a strategic move in this political context.
Read Next: <a href="https://www.benzinga.com/news/24/04/38482489/ukrainian-troops-retreat-as-conflict-with-russia-intensifies-in-eastern-front-zelenskyy-urges-us-for?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ukrainian Troops Retreat As Conflict With Russia Intensifies In Eastern Front, Zelenskyy Urges US For Swift Arms Deliveries</a>
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 The GPT-4-based Benzinga Neuro content generation system exploits the 
 extensive Benzinga Ecosystem, including native data, APIs, and more to 
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 <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Learn more.</a>
 
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Trump Says If Supreme Court Decides President Doesn't Get Immunity Then Biden 'Will Be Prosecuted For All His Crimes'

As the technology realm thrives on the seamless fusion of generative AI, advancing cloud computing, and perpetual innovations, let's unravel the potential gains through an analysis of Hewlett Packard (HPE), PC Connection (CNXN), and Spirent Communications (SPMYY) for 2024. Read on... The technology industry's growth is fueled by the ubiquitous integration of generative AI, evolving cloud computing, and ongoing innovations. Thus, let's delve into an analysis of the gain potential for Hewlett Packard Enterprise Company (<a href="https://stocknews.com/stock/HPE/">HPE</a>), PC Connection, Inc. (<a href="https://stocknews.com/stock/CNXN/">CNXN</a>), and Spirent Communications plc (<a href="https://stocknews.com/stock/SPMYY/">SPMYY</a>).
Before delving into the fundamentals of the featured stocks, let's examine the key factors driving the tech industry's prospects.
The integration of generative Artificial Intelligence (AI) is catalyzing a paradigm shift across industries, fostering heightened collaboration and bespoke digital interactions. Anticipated as a focal point of technological intrigue in 2024, generative AI is poised to redefine the landscape with its transformative capabilities and personalized advancements.
In 2024, Gartner (<a href="https://stocknews.com/stock/IT/">IT</a>) forecasts significant expansion, as AI is set to <a href="https://www.inc.com/anis-uzzaman/the-10-top-technical-business-trends-of-2024.html">contribute 10% to the overall data landscape</a> by 2025. Furthermore, it envisions a substantial shift, with generative AI expected to dominate <a href="https://www.gartner.com/en/articles/gartner-top-10-strategic-technology-trends-for-2024">70% of design and development processes</a> for new web and mobile applications by 2026.
Cloud infrastructure is also set to play a pivotal role in making AI accessible to the masses. Businesses are projected to <a href="https://www.forbes.com/sites/bernardmarr/2023/10/09/the-10-biggest-cloud-computing-trends-in-2024-everyone-must-be-ready-for-now/?sh=266dedfb66d6">surpass the $1 trillion spending mark</a> on cloud computing infrastructure in 2024. The growing imperative drives this surge to adopt new platforms and embrace as-a-service offerings.
Moreover, the <a href="https://connect.comptia.org/blog/emerging-trends-in-information-technology">surge of technological innovations</a> spanning the Internet of Things (IoT), 5G networks, blockchain, spatial computing, homomorphic encryption, metaverse, 3D printing, additive manufacturing, robotics, and automation is set to propel significant industry expansion, notably broadening its horizons.
Going forward, according to a report by Report Linker, the information technology market is projected to grow at <a href="https://www.reportlinker.com/p06246411/Information-Technology-Global-Market-Report.html">a CAGR of 7.9%</a> and reach $12 trillion by 2027.
In light of these encouraging trends, let's look at the fundamentals of the three tech stocks.
Hewlett Packard Enterprise Company (<a href="https://stocknews.com/stock/HPE/">HPE</a>)
HPE provides clients with seamless data capture, analysis, and action solutions. Its offerings span leasing, financing, IT consumption, utility programs, and asset management services. The company operates through six segments: Compute; HPC &amp; AI; Storage; Intelligent Edge; Financial Services; and Corporate Investments and Other.
On October 19, HPE outlined its fiscal year 2024 financial outlook, emphasizing the accelerated value growth for shareholders through the expansion of software and services-rich segments. The company's strategic shift to higher-growth, higher-margin businesses aims to surpass 50% of total segment revenue by fiscal year 2026.
With ongoing investments, HPE anticipates expanding its recurring revenue, increasing margins, and extending its total addressable market by nearly $100 billion over four years to surpass $340 billion, primarily driven by the expanding AI market.
On March 20, the company announced a definitive agreement to acquire OpsRamp, a leading IT operations management (ITOM) company specializing in monitoring, automating, and managing IT infrastructure across hybrid and multi-cloud environments, including major hyperscalers.
The addition of OpsRamp's expertise allows HPE to offer comprehensive solutions for efficient IT operations, reinforcing its competitive edge and catering to the evolving needs of businesses in complex cloud environments.
For the fourth quarter that ended October 31, 2023, HPE's earnings from operations amounted to $507 million, compared to a loss of $339 million in the prior year's period. Its free cash flow increased 16.3% year-over-year to $2.32 billion.
Moreover, the company's net earnings and net earnings per share came in at $642 million and $0.49, compared to a net loss and loss per share of $304 million and $0.12, respectively, in the previous year's quarter.
Analysts expect HPE's revenue to increase 3.6% year-over-year to $30.62 billion for the fiscal year ending October 2025. Likewise, the company's EPS for the next fiscal year is estimated to grow 10.9% from the prior year to $2.14. Also, the company surpassed the consensus EPS estimates in all four trailing quarters, which is impressive.
Shares of HPE have gained 6.1% over the past year to close the last trading session at $16.72.
HPE's positive fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, equating to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
HPE has a B grade for Value and Momentum. It is ranked #3 out of 46 stocks within the <a href="https://stocknews.com/category/technology-communication-networking/">Technology - Communication/Networking</a> industry.
In addition to the POWR Ratings I've highlighted, you can see HPE's Growth, Stability, Quality, and Sentiment ratings <a href="https://stocknews.com/stock/HPE/">here</a>.
PC Connection, Inc. (<a href="https://stocknews.com/stock/CNXN/">CNXN</a>)
CNXN provides a range of IT products, including computer systems, data center solutions, software, peripherals, and managed and professional services. The company operates through three segments: Business Solutions; Enterprise Solutions; and Public Sector Solutions.
On December 14, CNXN unveiled the Helix Center for Applied AI and Robotics, showcasing the company's commitment to advancing artificial intelligence and automation. The initiative positions CNXN as a hub for industry-leading expertise, resources, and support, empowering organizations to harness the benefits of AI.
On December 13, CNXN announced the renewal of its Microsoft Azure Expert MSP status, emphasizing its commitment to robust technical capabilities and proactive customer support in Azure environments. This distinction would enhance CNXN's credibility, attracting more clients and contributing significantly to the company's growth.
CNXN's <a href="https://www.investopedia.com/terms/i/ifo.asp">income from operations</a> marginally increased year-over-year to $32.02 million for the third quarter that ended September 30, 2023. Its adjusted EBITDA rose 9.6% from the year-ago value to $39.83 million. In addition, the company's adjusted net income and adjusted EPS grew 10.4% and 10.2% from the prior year's period to $25.63 million and $0.97, respectively.
The consensus revenue estimate of $2.92 billion for the fiscal year ending December 2024 reflects a 3.3% year-over-year improvement. Similarly, the consensus EPS estimate of $3.41 for the next fiscal year exhibits a 6.9% rise from the previous year. The stock has surged 47.1% over the past six months to close the last trading session at $67.45.
CNXN's robust prospects are reflected in its POWR Ratings. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
CNXN has a B grade for Stability, Quality, and Sentiment. It is ranked #3 out of 76 stocks within the <a href="https://stocknews.com/category/technology-services/">Technology - Services</a> industry.
<a href="https://stocknews.com/stock/CNXN/">Click here</a> to access the additional CNXN ratings (Growth, Value, and Momentum).
Spirent Communications plc (<a href="https://stocknews.com/stock/SPMYY/">SPMYY</a>)
Based in Crawley, the United Kingdom, SPMYY's Lifecycle Service Assurance segment offers testing solutions for 5G mobile core networks and cellular and Wi-Fi devices in both lab and live environments. The Networks &amp; Security segment develops test methodologies, tools, and services for virtualized networks and the cloud.
On December 6, SPMYY partnered with Anritsu, propelling itself to the forefront of automotive innovation. The collaboration targets a paradigm shift in testing for C-V2X and autonomous driving technologies, positioning SPMYY as a key player in the dynamic autonomous driving sector and creating substantial growth prospects. 
On October 31, SPMYY partnered with Cadence Design Systems, Inc. (<a href="https://stocknews.com/stock/CDNS/">CDNS</a>), gaining access to advanced verification tools. This collaboration accelerates time-to-market for innovations, simplifies Ethernet chipset design, and ensures optimal product performance, enhancing SPMYY's competitiveness in the industry.
For the six months that ended June 30, 2023, SPMYY's adjusted revenue registered at $223.90 million. Its adjusted profit before tax and adjusted EPS amounted to $14.80 million and $2.10, respectively. Moreover, cash inflow from investing activities came in at $600 thousand, compared to a cash outflow of $3.60 million in the prior year's period.
For the fiscal year ending December 2024, analysts expect SPMYY's revenue to marginally increase year-over-year to $500.49 million. The stock has gained 10.8% over the past month, closing the last trading session at $6.15.
SPMYY's strong outlook is apparent in its POWR Ratings. The stock has an overall rating of A, which equates to a Strong Buy in our proprietary rating system.
SPMYY has an A grade for Quality and Stability and a B for Value. It has ranked #2 out of 43 stocks within the <a href="https://stocknews.com/category/technology-hardware/">Technology - Hardware</a> industry.
<a href="https://stocknews.com/stock/SPMYY/">Click here</a> to access additional SPMYY ratings for Growth, Momentum, and Sentiment. 
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>

<hr />
HPE shares were trading at $16.61 per share on Monday morning, down $0.11 (-0.66%). Year-to-date, HPE has gained 7.33%, versus a 24.64% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Aanchal Sugandh</h2> <img src='https:/wp-content/uploads/2022/12/Aanchal-Sugandh_Headshot.jpg' style="float:left; padding:5px;width:125px;">Aanchal's passion for financial markets drives her work as an investment analyst and journalist. She earned her bachelor's degree in finance and is pursuing the CFA program.

She is proficient at assessing the long-term prospects of stocks with her fundamental analysis skills. Her goal is to help investors build portfolios with sustainable returns.<a href="https://stocknews.com/authors/?author=aanchal-sugandh">More...</a>The post <a href=https://stocknews.com/news/hpe-cnxn-spmyy-cdns-comparing-2024-gain-potential-for-3-tech-stocks/>Comparing 2024 Gain Potential for 3 Tech Stocks</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Comparing 2024 Gain Potential for 3 Tech Stocks

Pivoting Away From The Fabulous 7: Small Cap Picks For A 2024 Rotation

With the technology sector flourishing through the blend of ongoing innovations and advancements, it seems prudent to hitch a ride on stable tech stocks Alps Alpine (APELY), PC Connection (CNXN), and Vtech Holdings (VTKLY) for potential gains this year. Read on… Riding the wave of technological expansion, fueled by the seamless integration of AI, advancing cloud computing, and perpetual innovations, investors could consider putting their eggs in the basket of stable stocks Alps Alpine Co., Ltd. (<a href="https://stocknews.com/stock/APELY/">APELY</a>), PC Connection, Inc. (<a href="https://stocknews.com/stock/CNXN/">CNXN</a>), and Vtech Holdings Limited (<a href="https://stocknews.com/stock/VTKLY/">VTKLY</a>) for solid returns this year.
Before delving into the fundamentals of the featured stocks, let's examine the key factors driving the tech industry's prospects.
<a href="https://www.forbes.com/sites/forbestechcouncil/2024/01/08/20-tech-experts-on-the-tools-and-trends-that-will-dominate-2024/?sh=275b6a751eef">Generative AI's integration</a>, propelled by exponential growth in the technology industry, is driving transformative change. Advancements in cloud computing and continuous innovation are further contributing to this shift, fostering enhanced collaboration and personalized digital interactions across diverse sectors.
This year, generative AI is anticipated to emerge as a central focus of technological interest, poised to reshape the landscape through transformative capabilities and personalized advancements. Gartner (<a href="https://stocknews.com/stock/IT/">IT</a>) forecasts predict significant growth, projecting AI to comprise <a href="https://www.inc.com/anis-uzzaman/the-10-top-technical-business-trends-of-2024.html">10% of the total data landscape</a> by 2025.
Anticipating a revolutionary impact, IT also foresees generative AI, <a href="https://www.gartner.com/en/articles/gartner-top-10-strategic-technology-trends-for-2024">transforming 70%</a> of new web and mobile app design and development processes by 2026. The shift is poised to fundamentally transform the industry, potentially accelerating growth in the sector and highlighting AI's transformative influence on application development.
The momentum in software and content is also expected to persist in 2024, fueled by a robust consumer appetite for entertainment services and products enhancing daily convenience. Anticipated industry retail revenue for hardware is estimated at <a href="https://cybernews.com/news/what-to-expect-from-tech-2024/">$348 billion</a>, while software and services are projected to reach $163 billion.
Cloud infrastructure also stands as a key player in democratizing AI accessibility, with projections indicating businesses will surpass <a href="https://www.forbes.com/sites/bernardmarr/2023/10/09/the-10-biggest-cloud-computing-trends-in-2024-everyone-must-be-ready-for-now/?sh=266dedfb66d6">a $1 trillion spending milestone</a> on cloud computing infrastructure in 2024. The growing imperative is driving increased adoption of new platforms and embracing as-a-service offerings.
Amid emerging technological trends, investors' keen interest in the tech sector is evident from the 47.3% gains of the Technology Select Sector SPDR Fund (<a href="https://stocknews.com/stock/XLK/">XLK</a>) over the past year, outpacing the broader S&amp;P 500 index's 19.6% gain over the same period.
Considering this encouraging outlook, let's look at the fundamentals of the three tech stocks.
Alps Alpine Co., Ltd. (<a href="https://stocknews.com/stock/APELY/">APELY</a>)
Based in Tokyo, Japan, APELY is a manufacturer and distributor of electronic components. The company engages in systems development, office services, and financing/leasing. Its operations span four key segments: Components; Sensor Communication; Module Systems; and Logistics.
On October 18, 2023, APELY initiated sales of AirInput&#x2122;, integrating high-sensitivity capacitive sensing for touchless and touch input. The innovative product capitalizes on the rising prevalence of capacitive touch panels, enhancing intuitive input and control. This move could position the company for exponential growth and financial success.
On October 13, 2023, APELY disclosed a collaboration with DSP Concepts, Inc. to expedite the delivery of advanced sound technology. Leveraging DSP Concepts' Audio Weaver platform, APELY anticipates a 40% reduction in engineering resources dedicated to crafting audio signal processing software.
The partnership could accelerate time-to-market for forthcoming sound products and foster innovation in product features, fortifying APELY's competitive edge and elevating its market position.
For the fiscal 2023 second quarter that ended September 2023, APELY's net sales increased 2.9% year-over-year to ￥256.50 billion ($1.78 billion). As of September 2023, the company's cash and deposits amounted to ￥88.90 billion ($613.41 million), compared to ￥84.10 billion ($580.29 million) as of March 2023.
Additionally, its current assets stood at ￥499.40 billion ($3.45 billion), up from ￥466.50 billion ($3.22 billion) as of March 2023.
Analysts expect APELY's revenue to increase 54% year-over-year to $6.56 billion for the fiscal year ending March 2024. The company's EPS for the ongoing year is estimated to rise 66.6% from the prior year to $1.37. Also, the company topped the consensus revenue estimates in all four trailing quarters.
Shares of APELY have gained 7.6% over the past five days to close the last trading session at $18.34. Moreover, the stock has a 24-month beta of 0.63.
APELY's solid fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which equates to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
APELY has an A grade for Value and a B for Stability and Momentum. It is ranked #7 out of 41 stocks within the B-rated <a href="https://stocknews.com/category/technology-electronics/">Technology - Electronics</a> industry.
In addition to the POWR Ratings I've highlighted, you can see APELY's Growth, Quality, and Sentiment ratings <a href="https://stocknews.com/stock/APELY/">here</a>.
PC Connection, Inc. (<a href="https://stocknews.com/stock/CNXN/">CNXN</a>)
CNXN provides a range of IT products, managed services, and professional services. Additionally, it offers expertise in designing, configuring, and implementing IT solutions. The company's segments include Business Solutions; Enterprise Solutions; and Public Sector Solutions.
On December 14, 2023, CNXN unveiled the Helix Center for Applied AI and Robotics, an initiative offering customers comprehensive guidance, tools, and support. This would enhance the company's value proposition by providing customers with indispensable resources and enabling tailored implementations, thereby solidifying CNXN's leadership in the dynamic landscape of artificial intelligence and robotics.
On December 13, 2023, CNXN proclaimed the renewal of its esteemed Microsoft Azure Expert Managed Service Provider (MSP) status. The coveted recognition underscores the company's profound technical prowess and commitment to proactive and responsive customer support within Azure environments, bolstering its industry standing.
For the fiscal 2023 third quarter that ended September 30, 2023, CNXN's income from operations marginally rose year-over-year to $32.02 million. Its <a href="https://www.investopedia.com/terms/a/adjusted-ebitda.asp">adjusted EBITDA</a> rose 9.6% from the year-ago value to $39.83 million. Additionally, the company's adjusted net income and adjusted EPS grew 10.4% and 10.2% from the prior year's period to $25.63 million and $0.97, respectively.
Analysts expect CNXN's revenue to increase 3.3% year-over-year to $2.92 billion for the fiscal year ending December 2024. The company's EPS for the current period is expected to come in at $3.41, up 6.9% from the previous year.
The stock has gained 40.6% over the past six months, closing the last trading session at $64.74. In addition, CNXN has a 24-month beta of 0.73.
CNXN's strong outlook is apparent in its POWR Ratings. The stock has an overall rating of A, equating to a Strong Buy in our proprietary rating system.
CNXN has a B grade for Momentum, Stability, Sentiment, and Quality. It is ranked #3 out of 76 stocks within the <a href="https://stocknews.com/category/technology-services/">Technology - Services</a> industry.
<a href="https://stocknews.com/stock/CNXN/">Click here</a> to access additional CNXN ratings for Growth and Value.
Vtech Holdings Limited (<a href="https://stocknews.com/stock/VTKLY/">VTKLY</a>)
Based in Tai Po, Hong Kong, VTKLY offers electronic learning toys that cater to infants, toddlers, and preschoolers through the Vtech and LeapFrog brands. The company extends its offerings to platform products, learning programs, and telecommunications products, encompassing baby monitors, handsets, and integrated access devices.
On November 21, 2023, VTKLY's LeapFrog&#xAE; Enterprises, a pioneering force in children's educational toys, unveiled eco-friendly additions, enhancing its product range. These innovations are designed to captivate children's curiosity and foster crucial educational skills, elevate playtime interactivity, and improve the company's product portfolio.
On September 13, 2023, VTKLY introduced an enriched selection to its captivating baby line, encompassing a play tunnel, tummy time pillow, and interactive toys. The expanded collection actively fosters developmental progress, inspiring infants to explore, discover, and achieve key milestones, thus enhancing the brand's appeal and market presence.
During the six months that ended September 30, 2023, VTKLY's operating profit rose 11.4% year-over-year to $110.30 million. Profit for the period attributable to shareholders of the company grew 14.1% from the year-ago value to $93.60 million, while EPS increased 13.8% from the prior year's period to $0.37.
As of September 30, 2023, VTKLY's total assets came in at $1.06 billion, up from $1.01 billion as of March 31, 2023.
The consensus revenue estimate of $2.30 billion for the fiscal year ending March 2025 reflects a 4.6% year-over-year improvement. Over the past month, shares of VTKLY have gained 13.8%, closing the last trading session at $6.05. Furthermore, the stock has a 24-month beta of 0.63.
VTKLY's robust prospects are reflected in its POWR Ratings. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
VTKLY has an A grade for Quality and a B for Value, Momentum, and Stability. It is ranked #2 in the 35-stock B-rated <a href="https://stocknews.com/category/technology-hardware/">Technology - Hardware</a> industry.
<a href="https://stocknews.com/stock/VTKLY/">Click here</a> to access the additional VTKLY ratings (Growth and Sentiment).
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APELY shares were trading at $18.34 per share on Monday afternoon, up $1.03 (+5.95%). Year-to-date, APELY has gained 8.20%, versus a 0.29% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Aanchal Sugandh</h2> <img src='https:/wp-content/uploads/2022/12/Aanchal-Sugandh_Headshot.jpg' style="float:left; padding:5px;width:125px;">Aanchal's passion for financial markets drives her work as an investment analyst and journalist. She earned her bachelor's degree in finance and is pursuing the CFA program.

She is proficient at assessing the long-term prospects of stocks with her fundamental analysis skills. Her goal is to help investors build portfolios with sustainable returns.<a href="https://stocknews.com/authors/?author=aanchal-sugandh">More...</a>The post <a href=https://stocknews.com/news/apely-cnxn-vtkly-3-steady-tech-stocks-to-bolster-your-portfolio/>3 Steady Tech Stocks to Bolster Your Portfolio</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Steady Tech Stocks to Bolster Your Portfolio

The technology industry is positioned for long-term growth due to the rapid adoption of new and emerging technologies across industries. Moreover, given consistent advancements, tech stocks, TTM Technologies (TTMI), PC Connection (CNXN), and Ceragon Networks (CRNT) might be worth buying. Read more... The technology industry is growing significantly due to consistent advancements transforming several end-use industries. Given the favorable industry trends, quality tech stocks TTM Technologies, Inc. (<a href="https://stocknews.com/stock/TTMI/">TTMI</a>), PC Connection, Inc. (<a href="https://stocknews.com/stock/CNXN/">CNXN</a>), and  Ceragon Networks Ltd. (<a href="https://stocknews.com/stock/CRNT/">CRNT</a>) look poised for steady returns this week.
The IT Services market in the United States has been experiencing significant growth in recent years, driven by various factors such as technological advancements, increasing demand for cloud computing, and the need for digital transformation across industries. Revenue is expected to grow at a <a href="https://www.statista.com/outlook/tmo/it-services/united-states#:~:text=Revenue%20in%20the%20IT%20Services,US%24628.80bn%20by%202028.">CAGR of 6.2%</a> until 2028.
Additionally, the global electronic components market is expected to grow at a <a href="https://www.precedenceresearch.com/electronic-components-market">CAGR of 6.8%</a> to reach $368.40 billion by 2032. Increasing demand for consumer electronics, the rollout of 5G networks and, the growth of high-speed data communication, advancements in IoT, and increasing industrial automation are expected to drive growth in the market.
Furthermore, in an era where high-speed communication is more important than ever, 5G is ready to match these lofty expectations. As firms begin to progressively roll out 5G ready products and infrastructures, it is reasonable to conclude that connectivity is making significant progress.
Global telecommunication market is expected to grow at a <a href="https://www.skyquestt.com/report/telecommunication-market">CAGR of 6.2%</a> until 2030.
With these favorable trends in mind, let's delve into the fundamentals of the three best technology stock picks mentioned above.
TTM Technologies, Inc. (<a href="https://stocknews.com/stock/TTMI/">TTMI</a>)
TTMI is a global manufacturer and seller of engineered systems, radio frequency components and, RF microwave/microelectronic assemblies, and printed circuit boards (PCB). It operates in the PCB and RF&amp;S Components segments. The company offers a range of engineered systems, RF and microwave assemblies, HDI PCBs, flexible PCBs, custom assemblies, and system integration, IC substrates, and other components.
TTMI's trailing-12-month <a href="https://www.investopedia.com/terms/g/gross_profit_margin.asp">EBIT margin</a> of 5.29% is 13.4% higher than the industry average of 4.66%. Its trailing-12-month EBITDA margin of 12.20% is 34.2% higher than the industry average of 9.09%.
For the fiscal third quarter ended October 2, 2023, TTMI's net sales amounted to $572.58 million. The company's non-GAAP net income and EPS stood at $44.88 million and $0.43, respectively. Also, its adjusted EBITDA came in at $84.08 million. As of October 2, 2023, TTMI's total current liabilities came at $688.29 million, compared to $761.33 million as of January 2, 2023.
Street expects TTMI's revenue to increase 4.9% year-over-year to $2.35 billion for the fiscal year ending December 2024. Its EPS is expected to grow 13.4% year-over-year to $1.46 for the same year. It surpassed EPS estimates in three of four trailing quarters.
The stock has gained 24.6% over the past three months to close the last trading session at $14.32.
TTMI's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its promising outlook. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
The stock has an A grade in Sentiment and B in Growth and Momentum. It is ranked #6 out of 42 stocks in the <a href="https://stocknews.com/category/technology-electronics/">Technology - Electronics</a> industry.
<a href="https://stocknews.com/stock/TTMI/">Click here</a> to see the other ratings of TTMI (Value, Stability, and Quality).
PC Connection, Inc. (<a href="https://stocknews.com/stock/CNXN/">CNXN</a>)
CNXN provides various information technology (IT) solutions worldwide. The company operates through three segments: Business Solutions; Enterprise Solutions; and Public Sector Solutions.
CNXN's trailing-12-month net income margin of 2.71% is 29.5% higher than the industry average of 2.09%, while its trailing-12-month ROCE of 9.94% is 436.5% higher than the industry average of 1.85%.
CNXN's net sales for the fiscal third quarter ended September 30, 2023 came in at $693.09 million. Net income rose 10.3% year-over-year to $25.60 million. Its earnings per common share increased 10.2% year-over-year to $0.97.
Analysts expect CNXN's revenue for the fourth quarter ended December 31, 2023, to be $673.59 million. Its EPS is expected to increase 23.2% year-over-year to $0.88 for the same quarter.
Shares of CNXN increased 64% over the past nine months to close the last trading session at $66.06.
CNXN's strong fundamentals are reflected in its POWR Ratings. It has an overall rating of A, which equates to a Strong Buy in our proprietary rating system.
It has a B grade for Stability, Momentum, Quality, and Sentiment. Within the <a href="https://stocknews.com/category/technology-services/">Technology - Services</a> industry, it is ranked #3 out of 76 stocks.
Beyond what is stated above, we've also rated CNXN for Growth and Value. Get all CNXN ratings <a href="https://stocknews.com/stock/CNXN/">here</a>.
Ceragon Networks Ltd. (<a href="https://stocknews.com/stock/CRNT/">CRNT</a>)
Based in Rosh HaAyin, Israel, CRNT offers wireless transport solutions for cellular operators and other wireless service providers. Its solutions use microwave and millimeter-wave radio technologies to transfer telecommunication traffic between base stations, service provider's networks, wireless 5G and 4G, 3G, and other cellular base stations.
On January 11, 2024, CRNT signed an agreement with a global integrator in support of a network modernization project for a Tier 1 Operator in India. As per the agreement, Ceragon will support a massive modernization project focused on upgrading existing network capabilities, expanding capacity, improving country-wide connectivity, and delivering services.
On December 5, 2023, CRNT announced the completion of the acquisition of Siklu, a provider of multi-gigabit "wireless fiber" connectivity in urban, suburban, and rural areas. This acquisition creates a more comprehensive, end-to-end offering ideally targeted to small service providers and private networks around the world.
This strategic acquisition of Siklu is anticipated to increase Ceragon's market presence, mainly in North America, with private networks and small service providers.
CRNT's trailing-12-month ROTC and CAPEX/Sales of 4.05% and 2.66% are 49.36% and 11.6% higher than the respective industry averages of 2.71% and 2.38%.
In the third quarter that ended September 30, 2023, CRNT's revenue increased 10.9% year-over-year to $87.26 million. Its non-GAAP gross profit grew 8.8% year-over-year to $30.42 million. The company's non-GAAP operating income was $8 million, indicating a growth of 25% from the previous year's quarter.
In addition, its non-GAAP net income came in at $4.96 million, or $0.06 per share, up 20.4% and 20% from the prior year's quarter, respectively. The company's cash and cash equivalents as of September 30, 2023, were $33.97 million, compared to $22.95 million as of December 31, 2022.
Street expects CRNT's revenue for the fiscal year (ended December 2023) to increase 15.8% year-over-year to $341.79 million. The company's EPS is expected to be $0.17. Moreover, it has surpassed the consensus EPS and revenue estimates in three of the trailing four quarters.
Over the past three months, the stock has surged 42.4% to close the last trading session at $2.42.
It's no surprise that CRNT has an overall rating of A, which equates to a Strong Buy in our proprietary rating system.
It has an A grade for Sentiment and a B in Value and Growth. Within the  <a href="https://stocknews.com/category/technology-communication-networking/">Technology - Communication/Networking</a> industry, it is ranked #2 out of 46 stocks.
In addition to the POWR Ratings stated above, one can access CRNT's ratings for Momentum, Quality, and Stability <a href="https://stocknews.com/stock/CRNT/">here</a>.
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<hr />
TTMI shares were trading at $14.33 per share on Friday morning, up $0.01 (+0.07%). Year-to-date, TTMI has declined -9.36%, versus a 3.89% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Nidhi Agarwal</h2> <img src='https:/wp-content/uploads/2023/03/Nidhi-Agarwal_Headshot-3.jpg' style="float:left; padding:5px;width:125px;">Nidhi is passionate about the capital market and wealth management, which led her to pursue a career as an investment analyst. She holds a bachelor's degree in finance and marketing and is pursuing the CFA program.

Her fundamental approach to analyzing stocks helps investors identify the best investment opportunities.<a href="https://stocknews.com/authors/?author=nidhi-agarwal">More...</a>The post <a href=https://stocknews.com/news/ttmi-cnxn-crnt-3-tech-stocks-bursting-with-opportunities-this-week/>3 Tech Stocks Bursting With Opportunities This Week</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Tech Stocks Bursting With Opportunities This Week

PC Connection Non-GAAP EPS of $0.90 beats by $0.02, revenue of $696.5M beats by $22.91M

PC Connection (CNXN) has released an update. Connection has announced that its Board of Directors declared a quarterly cash dividend on February 14...

PC Connection Declares Quarterly Dividend for Shareholders

PC Connection raises quarterly dividend by 25% to  $0.10/share

PC Connection, Inc. (CNXN) Q4 2023 Earnings Call Transcript

The tech industry is witnessing steady growth amid widespread digitization initiatives and increasing reliance on technology. Given its solid growth prospects, investors could consider buying quality tech stocks such as Leidos Holdings (LDOS), PC Connection (CNXN), Proto Labs (PRLB), and Lantronix (LTRX). Read on... The tech industry is thriving, driven by the adoption of emerging technologies, increased spending on tech services, and the shift towards remote work and virtual collaboration.
Considering the industry's bright prospects, quality tech stocks Leidos Holdings, Inc. (<a href="https://stocknews.com/stock/LDOS/">LDOS</a>), PC Connection, Inc. (<a href="https://stocknews.com/stock/CNXN/">CNXN</a>), Proto Labs, Inc. (<a href="https://stocknews.com/stock/PRLB/">PRLB</a>), and Lantronix, Inc. (<a href="https://stocknews.com/stock/LTRX/">LTRX</a>) could be wise additions to your portfolio.
Before delving deeper into their fundamentals, let's discuss what's happening in the tech industry.
The technology industry is expanding as more end-use industries adopt digital solutions for efficiency, accessibility, scalability, and flexibility. To remain competitive, companies are rapidly undergoing digital transformation, which entails integrating digital technologies into their operations, supply chains, and business models. Canalys predicts a <a href="https://www.canalys.com/insights/worldwide-it-spend-2024">6.2% growth</a> in worldwide IT spending to $4.94 trillion in 2024.
The IT services industry is expanding rapidly due to digitization initiatives, the adoption of cloud services, and the demand for cybersecurity support. The global IT services industry is expected to reach $1.32 trillion by 2027, growing at a <a href="https://www.businessresearchinsights.com/market-reports/it-services-market-111832">CAGR of 4.1%</a>.
In addition, businesses are integrating 3D printing into their capabilities to streamline production, reduce costs, improve workflows, create intricate designs, and transform supply chains through on-demand and localized manufacturing. The global 3D printing market is projected to grow at a <a href="https://www.databridgemarketresearch.com/reports/global-3d-printing-market">CAGR of 15.5%</a> to reach $23.41 billion by 2031.
Furthermore, there is a huge demand for cutting-edge hardware to ensure the seamless functioning of software and manage data-heavy workloads. The IT hardware market is projected to grow at a <a href="https://www.mordorintelligence.com/industry-reports/global-it-hardware-market">CAGR of 7.9%</a> to reach $191.03 billion by 2029. Moreover, investors' interest in tech stocks is evident from the iShares Expanded Tech Sector ETF's (<a href="https://stocknews.com/stock/IGM/">IGM</a>) 55.1% returns over the past year.
In light of these encouraging trends, let's look at the fundamentals of the four above-mentioned tech stocks.
Leidos Holdings, Inc. (<a href="https://stocknews.com/stock/LDOS/">LDOS</a>)
LDOS provides services and solutions in the defense, intelligence, civil, and health markets globally. It offers national security solutions and systems for air, land, sea, and space for the U.S. Intelligence Community, systems integration services to air navigation service providers, and solutions for people's health and well-being.
On March 6, 2024, LDOS announced that it had signed a multi-year Strategic Collaboration Agreement (SCA) with Amazon Web Services. The collaboration will use each company's distinct strengths to accelerate innovation for new and existing customers in the public sector and select commercial markets.
The collaboration will focus on developing solutions combining LDOS' mission-critical systems expertise with AWS's cloud computing capabilities. This partnership aims to drive digital transformation and enhance the overall customer experience.
In terms of the trailing-12-month Return on Total Capital, LDOS' 8.32% is 19.4% higher than the 6.97% industry average. Likewise, its 1.20x asset turnover ratio is 50.4% higher than the 0.80x industry average.
For the fiscal fourth quarter that ended December 29, 2023, LDOS' revenues rose 7.6% year-over-year to $3.98 billion. Its <a href="https://www.investopedia.com/terms/a/adjusted-ebitda.asp">adjusted EBITDA</a> came to $452 million, up 13.9% from the previous year's quarter. The company's non-GAAP net income grew 9.1% from the year-ago value to $275 million, and its non-GAAP EPS increased 8.7% year-over-year to $1.99.
For the quarter ended March 31, 2024, LDOS' revenue and EPS are expected to increase 3.4% and 16% year-over-year to $3.83 billion and $1.71, respectively. The company surpassed the consensus EPS estimates in three of the trailing four quarters. The stock has gained 45.1% over the past nine months, closing the last trading session at $128.66.
LDOS' <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this promising outlook. It has an overall rating of A, equating to a Strong Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
LDOS has a B grade for Value, Momentum, Stability, and Sentiment. Within the <a href="https://stocknews.com/category/technology-services/">Technology - Services</a> industry, it is ranked first among 81 stocks. To see LDOS' additional ratings for Growth and Quality, <a href="https://stocknews.com/stock/LDOS/">click here</a>.
PC Connection, Inc. (<a href="https://stocknews.com/stock/CNXN/">CNXN</a>)
CNXN provides various information technology (IT) solutions worldwide. The company operates through three segments: Business Solutions, Enterprise Solutions, and Public Sector Solutions.
CNXN's trailing-12-month asset turnover ratio of 2.49x is 302.8% higher than the industry average of 0.62x. Likewise, the stock's trailing-12-month Return on Common Equity of 10.36% is 196.8% higher than the industry average of 3.49%. Additionally, its 7.01% trailing-12-month Return on Total Assets is 327% higher than the industry average of 1.64%.
CNXN's net sales for the fiscal fourth quarter ended December 31, 2023 came in at $696.47 million. Its income from operations came in at $27.94 million, up 16.9% year-over-year.
Also, its net income rose 26.3% year-over-year to $23.78 million. Its earnings per common share increased 26.8% year-over-year to $0.90.
Analysts expect CNXN's EPS for the quarter ended March 31, 2024, to increase 17.9% year-over-year to $0.66. Its revenue for the quarter ending June 30, 2024, is expected to increase 3.4% year-over-year to $758.81 million. It surpassed the consensus EPS estimates in three of the trailing four quarters. CNXN's shares have gained 46.1% over the past year to close the last trading session at $65.58.
It's no surprise that CNXN has an overall A rating, equating to a Strong Buy in our POWR Ratings system.
It has a B grade for Momentum, Stability, Sentiment, and Quality. It is ranked #2 in the same industry. Beyond what is stated above, we've also rated CNXN for Growth and Value. Get all CNXN ratings <a href="https://stocknews.com/stock/CNXN/">here</a>.
Proto Labs, Inc. (<a href="https://stocknews.com/stock/PRLB/">PRLB</a>)
PRLB is an e-commerce digital manufacturer of custom prototypes and on-demand production parts worldwide. The company offers injection molding, computer numerical control machining, three-dimensional (3D) printing, and sheet metal fabrication products.
In terms of the trailing-12-month gross profit margin, PRLB's 44.06% is 42.4% higher than the 30.94% industry average. Likewise, its 5.58% trailing-12-month CAPEX / Sales is 89.2% higher than the industry average of 2.95%. Furthermore, the stock's 9.34% trailing-12-month levered FCF margin is 43.6% higher than the industry average of 6.51%.
During the fiscal fourth quarter ended December 31, 2023, PRLB's total revenue rose 8.2% year-over-year to $125.05 million. Its non-GAAP gross profit increased 14.5% over the prior-year quarter to $56.61 million.
The company's adjusted EBITDA came in at $22.30 million, up 53.8% year-over-year. Additionally, its non-GAAP net income and net income per share grew 70.1% and 76.9% year-over-year to $11.83 million and $0.46, respectively.
Street expects PRLB's revenue for the quarter ending June 30, 2024, to increase 4.9% year-over-year to $128.26 million. Its EPS for the quarter ended March 31, 2024, is expected to increase 4.2% year-over-year to $0.31. It surpassed the consensus EPS estimates in each of the trailing four quarters. Over the past six months, the stock has gained 32.8% to close the last trading session at $34.26.
PRLB's strong fundamentals are reflected in its POWR Ratings. It has an overall rating of A, which equates to a Strong Buy in our proprietary rating system.
It has an A grade for Growth and a B for Value, Momentum, and Quality. It is ranked first out of the five stocks in the <a href="https://stocknews.com/category/technology-3d-printing/">Technology - 3D Printing</a> industry. <a href="https://stocknews.com/stock/PRLB/">Click here</a> to see PRLB's ratings for Stability and Sentiment.
Lantronix, Inc. (<a href="https://stocknews.com/stock/LTRX/">LTRX</a>)
LTRX offers solutions for video surveillance, infotainment systems, and intelligent substations infrastructure internationally. The company's IoT products include IoT System Solutions, Embedded IoT Modules, and Software and Engineering Services. It also offers telematics devices, which provide power-efficient products.
LTRX's trailing-12-month levered FCF margin of 16.98% is 81.7% higher than the industry average of 9.35%. Its trailing-12-month asset turnover ratio of 0.92x is 49% higher than the industry average of 0.62x.
For the fiscal second quarter ended on December 31, 2023, LTRX's net revenue increased 17.5% year-over-year to $37.04 million. Its gross profit rose 9% from the year-ago value to $15.03 million. In addition, the company's non-GAAP net income amounted to $2.96 million and $0.08, representing increases of 115.4% and 100% year-over-year, respectively.
For the quarter that ended March 31, 2024, LTRX's revenue and EPS are expected to increase 22.1% and 63.3% year-over-year to $40.22 million and $0.10, respectively. Shares of LTRX has declined 19.3% over the past month to close the last trading session at $3.17.
LTRX's promising outlook is reflected in its POWR Ratings. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
The stock has an A grade for Growth and Momentum and a B for Value, Sentiment, and Quality. Within the B-rated <a href="https://stocknews.com/category/technology-hardware/">Technology – Hardware</a> industry, LTRX is ranked first out of 38 stocks. To access LTRX's Stability rating, <a href="https://stocknews.com/stock/LTRX/">click here</a>.
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<hr />
LDOS shares were trading at $128.70 per share on Monday morning, up $0.04 (+0.03%). Year-to-date, LDOS has gained 19.26%, versus a 9.45% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rashmi Kumari</h2> <img src='https:/wp-content/uploads/2022/10/Rashmi-Kumari_headshot_2-1.jpg' style="float:left; padding:5px;width:125px;">Rashmi is passionate about capital markets, wealth management, and financial regulatory issues, which led her to pursue a career as an investment analyst. With a master's degree in commerce, she aspires to make complex financial matters understandable for individual investors and help them make appropriate investment decisions.<a href="https://stocknews.com/authors/?author=rashmi-kumari">More...</a>The post <a href=https://stocknews.com/news/ldos-cnxn-prlb-ltrx-top-4-tech-stocks-poised-for-explosive-returns-in-april/>Top 4 Tech Stocks Poised for Explosive Returns in April</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Top 4 Tech Stocks Poised for Explosive Returns in April

With the growing adoption of emerging technologies like GenAI among enterprises, the tech industry is well-poised to experience robust expansion. Hence, it could be wise to invest in top tech service stocks PC Connection (CNXN), LiveRamp Holdings (RAMP), Leidos Holdings (LDOS) and Box (BOX) for bullish opportunities. Read on... A rapid shift to cloud-based services, demand for cybersecurity solutions, and growing adoption of new technologies, including generative AI, machine learning, the Internet of Things (IoT), and 5G, are primary drivers propelling the technology industry's growth.
Given the industry's bright prospects, investors could consider buying fundamentally sound tech stocks PC Connection, Inc. (<a href="https://stocknews.com/stock/CNXN/">CNXN</a>), LiveRamp Holdings, Inc. (<a href="https://stocknews.com/stock/RAMP/">RAMP</a>), Leidos Holdings, Inc. (<a href="https://stocknews.com/stock/LDOS/">LDOS</a>), and Box, Inc. (<a href="https://stocknews.com/stock/BOX/">BOX</a>) for substantial gains.
The tech sector navigated a few challenges last year, with a drop in global tech spending and industry-wide layoffs. However, analysts are optimistic about the industry's outlook for 2024. <a href="https://www2.deloitte.com/us/en/insights/industry/technology/executives-expect-tech-industry-growth-in-2024.html">More than 62% of leaders</a> believe that this is a good time for their company to take risks.
Companies are increasingly investing in learning how to leverage generative AI (GenAI), migrate more workloads to the cloud, and adapt to new regulatory procedures. AI, cloud computing, cybersecurity, and advanced connectivity will enable the highest growth prospects for the industry this year.
According to the latest forecast by Gartner, <a href="https://www.gartner.com/en/newsroom/press-releases/2024-04-16-gartner-forecast-worldwide-it-spending-to-grow-8-percent-in-2024">global IT spending is expected to increase 8% year-over-year</a> to $5.06 trillion in 2024. This is an increase from the prior quarter's forecast of a 6.8% rise. The planning for genAI initiatives among enterprises will help boost tech spending this year and beyond.
The <a href="https://www.statista.com/outlook/tmo/it-services/worldwide">worldwide IT services market</a> revenue is anticipated to reach $1.77 trillion by 2028, growing at a CAGR of 6.7% during the forecast period (2024-2028). Meanwhile, the revenue of the <a href="https://www.statista.com/outlook/tmo/it-services/united-states">U.S. IT services market</a> is projected to reach $495.30 billion in 2024 and grow at a CAGR of 6.2% by 2028.
Moreover, investors' interest in tech stocks is evident from the Vanguard Information Tech ETF's (<a href="https://stocknews.com/stock/VGT/">VGT</a>) 30.2% returns over the past year.
Considering the favorable market trends, let's delve into the fundamentals of the top <a href="https://stocknews.com/category/technology-services/">Technology - Services</a> stocks, beginning with the fourth choice.
Stock #4: PC Connection, Inc. (<a href="https://stocknews.com/stock/CNXN/">CNXN</a>)
CNXN provides various IT solutions globally. It operates through three segments: Business Solutions; Enterprise Solutions; and Public Sector Solutions. The company offers IT solutions, like computer systems, data center solutions, software and peripheral equipment, networking communications, and other products and accessories.
On December 14, 2023, CNXN launched the Helix Center for Applied AI and Robotics. Helix helps realize the benefits of artificial intelligence and automation by bringing together industry-leading experts, resources, and support to help organizations of all sizes.
In the fourth quarter that ended December 31, 2023, CNXN reported net sales of $696.47 million. Its <a href="https://www.investopedia.com/terms/g/grossprofit.asp">gross profit</a> grew 4.4% from the year-ago value to $129.77 million. Its income from operations increased 16.9% year-over-year to $27.94 million. Its net income and EPS came in at $23.78 million and $0.90, up 26.3% and 26.8%year-over-year, respectively.
In addition, the company's adjusted EBITDA rose 26% from the prior year's quarter to $36.86 million.
Street expects CNXN's revenue and EPS to increase 2.9% and 9.4% year-over-year to $754.73 million and $0.88 for the second quarter ending June 2024, respectively. Further, CNXN topped the consensus EPS estimates in three of the trailing four quarters.
CNXN's stock gained 19.1% over the past six months and 52.2% over the past year to close the last trading session at $62.36.
CNXN's bright prospects are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
The stock has a B grade for Quality, Sentiment, Stability, and Momentum. CNXN is ranked #5 among 78 stocks in the <a href="https://stocknews.com/category/technology-services/">Technology - Services</a> industry.
<a href="https://stocknews.com/stock/CNXN/">Click here</a> to access additional CNXN ratings for Growth and Value.
Stock #3: LiveRamp Holdings, Inc. (<a href="https://stocknews.com/stock/RAMP/">RAMP</a>)
RAMP is a technology company that operates a data collaboration platform internationally. Its LiveRamp Data collaboration platform supports people-based market solutions like data collaboration, analytics, and data marketplace. It sells its solutions to enterprise marketers, agencies, and data providers in multiple industry verticals.
On April 11, 2024, RAMP announced a strategic partnership with Cross Screen Media, a CTV activation managed service provider for local agencies. It marked a significant step toward enhancing Cross Screen Media's targeting and measurement capabilities and positioning them toward a cookie-less future. The partnership should bode well for the companies.
On February 28, RAMP launched the next generation of the LiveRamp Data Collaboration Platform, which offers solutions for the end-to-end marketing lifecycle onto a single platform. Enshrined with new capabilities, it provides a simplified user interface, composable technology for cross-cloud interoperability, and a partner marketplace.
The new enhancements allow RAMP's customers to collaborate with any partner, activate data to any destination, and access more solutions from one place.
In the fiscal 2024 third quarter that ended December 31, 2023, RAMP's total revenues increased 9.6% year-over-year to $173.87 million. Its non-GAAP gross profit grew 8% from the year-ago value to $131 million. The company's non-GAAP operating income was $36 million, indicating a growth of 38.5% from the previous year's quarter.
In addition, the company's non-GAAP net earnings came in at $32 million, or $0.47 per share, up 68.4% and 67.8% year-over-year, respectively. Its net operating cash flow increased 6.3% from the year-ago value to $17 million.
According to the financial outlook for the fourth quarter of 2024, RAMP expects revenue between $158 million and $162 million, an increase of between 6% and 9%. It also expects a non-GAAP operating income of $13 million to $14 million.
Further, RAMP updated its guidance for fiscal 2024. The company now expects revenue between $646 million and $650 million, an increase of between 8% and 9%, and its non-GAAP operating income is expected to be between $102 million and $103 million.
Street expects RAMP's revenue to increase 8.3% year-over-year to $166.89 million for the first quarter ending June 2024. The company's EPS for the ongoing quarter is expected to grow 2.6% year-over-year to $0.30. Moreover, RAMP topped the consensus EPS estimates in each of the trailing four quarters, which is impressive.
RAMP's stock gained 17.2% over the past six months and 40.9% over the past year to close the last trading session at $32.42.
RAMP's sound fundamentals are reflected in its POWR Ratings. The stock has an overall rating of A, translating to a Strong Buy in our proprietary rating system.
The stock has a B grade for Value, Growth, and Quality. Within the Technology - Services industry, RAMP is ranked #4 out of 78 stocks.
In addition to the POWR Ratings I've just highlighted, you can see RAMP's ratings for Stability, Sentiment, and Momentum <a href="https://stocknews.com/stock/RAMP/">here</a>.
Stock #2: Leidos Holdings, Inc. (<a href="https://stocknews.com/stock/LDOS/">LDOS</a>)
LDOS offers services and solutions in the defense, intelligence, civil, and health markets internationally. The company operates through Defense Solutions; Civil; and Health segments. It offers national security solutions and systems for air, land, sea, space, and cyberspace for the U.S. Intelligence Community, the Department of Defense, and the Space Development Agency.
On April 15, 2024, LDOS was awarded a follow-on prime contract to offer the U.S. Army technology-enabled services for C5ISR and COTS systems. The task order for Responsive Strategic Sourcing for Services (RS3) and indefinite delivery/indefinite quantity (IDIQ) has a base period of 11 months and a maximum value of $267 million.
Since February 2011, LDOS has fielded nearly 9,000 C5ISR systems and provided almost 13,000 training courses to more than 167,000 soldiers, highlighting its progress in delivering digital workflows required to support C5ISR hardware services for the Army.
Also, on April 9, LDOS was awarded a new prime contract to perform aviation training services and operations support for the Army National Guard. The cost-plus-award-fee contract has an approximate value of $13.7 million and one year of performance. LDOS will leverage its aviation experience and expertise to uplift the National Guard's readiness advantage further.
On March 28, LDOS Leidos Partnership for Defense Health (LPDH) successfully deployed the Federal Electronic Health Record (EHR) system – called MHS GENESIS – at the Captain James A. Lovell Federal Health Care Center (Lovell FHCC) as part of a first-of-its-kind joint Department of Defense (DOD)-Department of Veterans Affairs (VA) EHR implementation.
For the fourth quarter that ended on December 29, 2023, LDOS' revenues increased 7.6% year-over-year to $3.98 billion. Its operating income rose 36.2% from the year-ago value to $361 million. Its non-GAAP net income attributable to Leidos common stockholders and non-GAAP EPS came in at $275 million and $1.99, up 9.1% and 8.7% year-over-year, respectively.
In addition, the company's adjusted EBITDA of $452 million indicates growth of 13.8% from the prior year's quarter. Its free cash flow increased 213.9% year-over-year to $226 million.
As per the guidance, the company expects revenues in a range of $15.70 billion to $16.10 billion and non-GAAP EPS of $7.50 to $7.90 in the fiscal year 2024. Also, LDOS expects cash flows provided by operating activities to be approximately $1.1 billion.
Analysts expect LDOS' EPS for the first quarter (ended March 2024) to increase 15.9% year-over-year to $1.70, and its revenue is estimated to grow 3.5% year-over-year to $3.83 billion in the same quarter. Also, the company surpassed the consensus EPS estimates in three of the four trailing quarters.
The stock has gained 37.2% over the past six months and 37.9% over the past year to close the last trading session at $126.03.
LDOS' promising outlook is reflected in its POWR Ratings. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
The stock has a B grade for Momentum, Stability, Sentiment, and Value. Within the Technology - Services industry, LDOS is ranked #3 out of 78 stocks.
<a href="https://stocknews.com/stock/LDOS/">Click here</a> to access additional ratings of LDOS for Growth and Quality.
Stock #1: Box, Inc. (<a href="https://stocknews.com/stock/BOX/">BOX</a>)
BOX provides a cloud content management platform enabling organizations to manage and share their content from anywhere on any device. Its SaaS platform allows users to work with the content required for secure external collaboration and sharing, workspaces and portals, e-signature processes, and content workflows.
On April 9, 2024, BOX was selected by Bulletproof, an award-winning independent global brand agency based in London, as its single centralized cloud platform to manage content and production work. The company will provide integration for external collaboration with clients, Box Shield, Box Shuttle self-service, and Box Relay for automated review.
On March 14, BOX announced that the Administrative Office of the U.S. Courts had selected it to power secure cloud content management and collaboration for the Defender Services Office (DSO). With BOX, DSO can securely share content internally and externally with investigators, Federal Public Defenders, and U.S. District Courts.
Also, on March 5, BOX and Microsoft Corporation (<a href="https://stocknews.com/stock/MSFT/">MSFT</a>) expanded their collaboration with a new integration of Azure OpenAI Service to bring its advanced large language models to Box AI. The integration of Azure OpenAI Service with BOX's cloud platform will offer the most advanced intelligence models to BOX's Content Cloud to advance enterprise-grade AI.
During the fourth quarter that ended January 31, 2024, BOX's revenue increased 2.5% year-over-year to $262.88 million. Its non-GAAP gross profit grew 2.4% year-over-year to $206.06 million. The company's non-GAAP operating income of $70.07 million indicates growth of 5.3% from the prior year's quarter.
Furthermore, its non-GAAP net income attributable to common stockholders came in at $61.18 million, or $0.42 per share, up 8.7% and 13.5% year-over-year, respectively. Its non-GAAP free cash flow increased 9.6% from the year-ago value to $81.83 million.
As per its guidance, BOX expects revenue to be in the range of $261 million to $263 million, up 4% year-over-year. Its non-GAAP net income per share attributable to common stockholders is expected to be between $0.35 and $0.36 for the first quarter of fiscal year 2025.
For the full year, the company's revenue is expected to be from $1.08 billion to $1.085 billion, and non-GAAP net income per share attributable to common stockholders is expected to be from $1.53 to $1.57.
For the first quarter (ending April 2024), Street expects BOX's revenue and EPS to increase 3.9% and 13.2% year-over-year to $261.80 million and $0.36, respectively. Also, the company has topped the consensus revenue and EPS estimates in three of the four trailing quarters.
Shares of BOX have surged 13.1% over the past six months and 1.5% over the past year to close the last trading session at $27.12.
BOX's robust prospects are reflected in its POWR Ratings. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
The stock has an A grade for Quality and a B for Growth and Value. BOX is ranked #2 out of 78 stocks in the same industry.
To access additional BOX's ratings for Sentiment, Stability, and Momentum, <a href="https://stocknews.com/stock/BOX/">click here</a>.
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LDOS shares were unchanged in premarket trading Tuesday. Year-to-date, LDOS has gained 16.78%, versus a 5.81% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/ldos-box-ramp-cnxn-msft-top-4-tech-service-stocks-for-bullish-opportunities/>Top 4 Tech Service Stocks for Bullish Opportunities</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Top 4 Tech Service Stocks for Bullish Opportunities

ACNB

APELY

BCAL

CCBG

CDNS

CRNT

FDBC

GOOG

GOOGL

GRVY

GSBC

IRMD

JMSB

LDOS

LTRX

MCBC

MSFT

PRLB

RAMP

RBCAA

RRBI

SPMYY

TTMI

USLM

VTKLY

VTWO

Press Releases

Connection Announces Winners of 2023 IT Superhero Awards

Connection Achieves Microsoft Azure Expert MSP Renewal

Connection Launches Helix Center for Applied AI and Robotics

PC Connection, Inc. (CNXN) to Release Fourth Quarter and Full Year Results for 2023

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PC Connection Stock (NASDAQ:CNXN), Short Interest Report

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