Latest news for Codan (OTC:CODAF) Stock

Codan Ltd develops electronics solutions for government, corporate, non-governmental organizations (NGO) and consumer markets across the globe. It operates through the following business segments: The communications segment includes the design, development, manufacture and marketing of communications equipment. The Metal detection segment includes the design, development, manufacture and marketing of metal detection equipment; The tracking solutions segment includes the design, manufacture, maintenance and support of a range of electronic products. The firm generates the majority of revenue from the Communications segment.

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Stocks That Hit 52-Week Highs On Wednesday

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Tech

AAPL

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

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

Global

Economics

Federal Reserve

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

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

Price Target

Initiation

Analyst Ratings

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

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

Downgrades

Redburn Atlantic Downgrades Rentokil Initial to Neutral

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

CHTR

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

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

Politics

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

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

PGNY

JMP Securities Downgrades Progyny to Market Perform

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

Pre-Market Outlook

ALLR

EFSH

FRGT

Maxeon Solar Technologies, Ltd. - Ordinary Shares

MAXN

MYNA

OMEX

SGLY

SMSI

TBIO

VEEA

VERO

WBUY

XCUR

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

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

NVDA

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

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

Media

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

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

HUIZ

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

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

HUBS

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

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

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

Cryptocurrency

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

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

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

Amid the Federal Reserve&#8217;s recent decision to cut interest rates, CNBC&#8217;s Jim Cramer has weighed in on how these changes might affect the technology sector.
What Happened: Cramer discussed the Federal Reserve&#8217;s recent interest rate cuts and their implications for the technology sector on Wednesday. He believes these cuts do not significantly benefit tech stocks.
According to <a href="https://www.cnbc.com/2024/09/18/cramer-explains-what-the-feds-rate-cuts-mean-for-tech-stocks.html">CNBC</a> on Thursday, Cramer stated, &#8220;With a double-sized rate cut that everybody already expected, you aren&#8217;t going to see a huge run in tech.&#8221; 
He emphasized that the Fed&#8217;s actions are more beneficial to companies reliant on a healthy consumer base.
The Federal Reserve initiated its rate-cutting cycle by reducing rates by half a point and signaled an additional 50 basis points cut by year-end. This marks the first rate cut since the pandemic, aimed at addressing inflation and balancing economic risks.
Cramer highlighted his observations from Salesforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>)&#8217;s annual conference in San Francisco, noting that tech companies, particularly those focused on AI, are less impacted by rate cuts. These companies cater to enterprises rather than consumers, distancing them from the labor market.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40919168/ethereum-co-founder-says-donald-trump-is-certainly-the-favorite-over-kamala-harris-for-cry?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ethereum Co-Founder Says Donald Trump Is &#8216;Certainly The Favorite&#8217; Over Kamala Harris For Crypto</a>
He suggested that consumer-oriented companies might benefit more during this rate-cutting cycle. Despite potential gains for tech stocks, Cramer noted that Wall Street often shifts focus to companies that thrive with lower rates.
Cramer concluded, &#8220;On days like today, we want the companies that desperately needed a rate cut, because they just got what they wished for. But tech? It got out of the wish game a very long time ago.&#8221;
Why It Matters: The Federal Reserve&#8217;s decision to cut interest rates by 50 basis points marks a significant shift in monetary policy, breaking a streak of 12 consecutive months with rates held steady. This move aims to <a href="https://www.benzinga.com/news/earnings/24/09/40932557/dow-tumbles-over-100-points-following-feds-rate-decision-fear-greed-index-in-greed-zone">address inflation and balance</a> economic risks. The rate cut has already impacted market sentiment, with the CNN Money Fear and Greed index showing improvement, moving into the &#8220;Greed&#8221; zone.
Price Action: Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which tracks tech players like Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) and others, was trading 1.67% higher during the pre-market at $479.33 while it closed at $471.44, as per <a href="https://pro.benzinga.com">Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40913080/shiba-inu-team-says-launching-k9-finance-liquid-staking-on-shibarium-tomorrow-are-shib-bur?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Team Says Launching K9 Finance Liquid Staking On Shibarium Tomorrow: Are SHIB Burns Set To Accelerate From Here On Now?</a></li>
</ul>
Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Analyst Color

AVGO

MSFT

Jim Cramer Predicts No 'Huge Run' For Tech Stocks After Federal Reserve Cuts Rate: 'It Got Out Of The Wish Game A Very Long Time Ago'

A2Z Inks Framework Agreement With Level 10 To Support U.S. Rollout Of Smart Carts For Retailers

XPENG Motors (("XPENG" or the "Company, NYSE:<a href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>), a leading Chinese AI mobility company, is set to participate in the Paris Motor Show 2024 from October 14th to October 20th. Showcasing under the theme "Enchanté, Paris!"1, XPENG will present a range of new technologies and solutions on Booth 6A51 in Hall 6, highlighting its commitment to intelligent, sustainable mobility solutions tailored for the European market.
At the show, XPENG will unveil its latest advancements, including the next-generation smart in-car operating system, Tianji XOS 5.4 for the European market. This innovation showcases XPENG's roadmap to bring adaptive, AI-powered driving experiences to European roads. In addition, XPENG will also demonstrate its next-generation smart cockpit, featuring advanced personalized customization options for displays and frequent OTA update.
Visitors will gain insights into XPENG's future plans, including a roadmap for expanded AI integration and the latest vehicle model incorporating these advancements.
XPENG's participation in the Paris Motor Show underscores its long-term plan to expand globally and become the leading company in AI-powered mobility. As part of this vision, XPENG will continue to leverage its AI expertise and technological innovations to redefine the future of AI mobility.

Government

Regulations

XPEV

XPENG To Showcase Smart Mobility Solutions and Latest Vehicle Model at Paris Motor Show 2024

New Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) vehicle registrations in the European Union in the first eight months of 2024 dropped 15% as compared to the corresponding period last year<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39499253/elon-musks-ev-giant-will-see-revenue-from-its-auto-business-slumping-this-year-but-"> as overall electric vehicle (EV) demand dropped</a>, data from Europe&#8217;s auto industry body showed on Thursday.
What Happened: Only 152,607 new Tesla vehicles were registered this year in the EU as of the end of August, as compared to 179,363 registrations in the corresponding period of last year, the European Automobile Manufacturers Association (ACEA) said. 
Dearborn-based Ford Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) is not faring great in the EU either. In the eight months that ended August, Ford&#8217;s new vehicle registration dropped 16% to 210,351 units. 
However, Swedish automaker Volvo Cars, majority-owned by China&#8217;s Geely, saw new car registrations rise 38% to 192,365 units while Chinese state-owned SAIC Motor also marked an 18% growth in registrations to 102,924 units.
Japan-based Toyota Motor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) witnessed its registrations rise by 18% this year through the end of August to 571,574 units even as rivals including Stellantis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) and Hyundai (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HYMTF#OTC">HYMTF</a>) recorded a 3.2% and 4.3% dip in registrations, respectively.
German automaker Volkswagen (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>) continues to be the best-selling car brand in the EU, with 1.9 million new vehicles registered in the first eight months of 2024, growing by 1.6% over the same period last year.
Why It Matters: Overall, 7.2 million new cars have been registered<a href="https://www.benzinga.com/news/24/07/39635158/eu-imposes-provisional-duties-of-as-much-as-37-6-on-chinese-ev-imports"> in the EU</a> this year as of the end of August, marking a growth of 1.4% from last year. 
Hydrid electric vehicles&#8217; popularity in the period rose, as depicted by the 21% rise in registrations. Battery electric vehicle registrations dipped 8.3% while diesel vehicle registrations dropped 9.7%.
On Wednesday, the ACEA took note of the drop in BEV market share in the EU. &#8220;European auto manufacturers, united in ACEA, therefore call on the EU institutions to come forward with urgent relief measures before new CO2 targets for cars and vans come into effect in 2025,&#8221; it said. 
EV adoption and production are hindered by a lack of charging infrastructure and a competitive manufacturing environment, it said, while adding that the current emission rules do not account for the profound shift in the geopolitical and economic climate over the past years. 
The 2025 CO2 emission targets could result in multi-billion euro fines, production cuts, and job losses, ACEA said, while calling for the CO2 regulations for light-duty and heavy-duty vehicles to be reviewed next year. 
&#8220;We stand ready to discuss a package of short-term relief for the 2025 CO2 targets for cars and vans, as well as a fast-track, comprehensive, and robust review of the CO2 Regulations for both cars and trucks, plus targeted secondary legislation, to get the zero-emission transition firmly on track and secure Europe's industrial future,&#8221; it said. 
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40917032/tesla-cybertruck-lead-engineer-warns-against-using-extension-cord-on-superchargers">Tesla Cybertruck Lead Engineer Warns Against Using Extension Cord On Superchargers</a></li>
</ul>
Photo courtesy: Unsplash

HYMTF

STLA

TSLA

VWAGY

Tesla Registrations In EU Take A Hit In 2024 As EV Demand Slows: Volkswagen, Volvo, And Toyota Continue To Gain Speed

Billionaire entrepreneur Mark Cuban is teaming up with Vice President Kamala Harris to protect American businesses from Chinese knockoffs.
What Happened: In a post on X, Cuban mentioned he had a &#8220;conversation with the @KamalaHarris team about protecting American companies from Chinese knockoffs.&#8221; He emphasized the detrimental impact of knockoffs on small businesses, stating they &#8220;cost them time, money and may put them out of business.&#8221;
&#8220;Knockoffs are a plague on small businesses,&#8221; he added.
Cuban questioned whether marketplace platforms should vet all foreign manufacturers selling to U.S. consumers, seeking suggestions for the best approach. He did not specify when the conversation occurred or any further strategies discussed.
&#8220;Kamala is focused on supporting and protecting American companies from unfair foreign competition,&#8221; Cuban wrote. 
<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">Had an interesting conversation with the <a href="https://twitter.com/KamalaHarris?ref_src=twsrc%5Etfw">@KamalaHarris</a> team about protecting American companies from Chinese Knockoffs Knockoffs are a plague on small businesses, that costs them time, money and may put them out of business. Right now all marketplace platforms do is help…
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1836523911351263690?ref_src=twsrc%5Etfw">September 18, 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/24/09/40913080/shiba-inu-team-says-launching-k9-finance-liquid-staking-on-shibarium-tomorrow-are-shib-bur?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Team Says Launching K9 Finance Liquid Staking On Shibarium Tomorrow: Are SHIB Burns Set To Accelerate From Here On Now?</a>
Cuban reiterated Harris&#8217; commitment to supporting American companies against unfair foreign competition. 
Why It Matters: This collaboration comes at a significant time for Cuban, who recently announced that the 16th season of &#8220;Shark Tank&#8221; will be his last. Cuban has been a <a href="https://www.benzinga.com/general/entertainment/24/09/40930343/slide-over-mark-cuban-theres-a-new-shark-in-the-pool-could-this-billionaire-be-his-replacem">fixture on the show since its third season</a>, investing over $20 million in various companies. The announcement has led to speculation about who might replace him on the popular investing show. 
Additionally, Cuban has been vocal about his support for Harris and her economic policies. He recently praised her for being pro-business and more supportive of entrepreneurs than any <a href="https://www.benzinga.com/startups/24/09/40855223/mark-cuban-praises-kamala-harris-support-for-business-is-her-new-tax-plan-a-game-changer">other candidate in recent memory</a>. 
This was highlighted in a recent post on X, where he stated, &#8220;Kamala Harris is listening to business leaders and gathering their feedback on what&#8217;s fair and what will lead to more investment in businesses.&#8221; 
Cuban&#8217;s engagement with Harris also extends to discussions about her tax policies. He recently invited Elon Musk to a <a href="https://www.benzinga.com/news/24/09/40872989/mark-cuban-asks-elon-musk-he-can-directly-question-him-about-kamala-harris-economic-policies-but-wan">direct discussion about Harris&#8217; economic policies</a>, emphasizing his active role in shaping business-friendly policies. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/large-cap/24/09/40930357/amazon-ends-remote-work-former-employee-asks-if-this-is-the-companys-version-of-silent-sacking">Amazon Ends Remote Work, Former Employee Asks If This Is The Company&#8217;s Version Of &#8216;Silent Sacking&#8217;</a></li>
</ul>
Photos courtesy: Flickr and Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Mark Cuban Teams Up With Kamala Harris To Protect American Businesses From 'Unfair Foreign Competition' From Chinese Clone Products: 'Knockoffs Are A Plague On Small Businesses'

Marygold Companies (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/MGLD#AMEX">MGLD</a>) reported quarterly losses of $(0.05) per share. This is a 266.67 percent decrease over earnings of $0.03 per share from the same period last year. The company reported $8.30 million in sales this quarter. This is a 6.74 percent decrease over sales of $8.90 million the same period last year.

Earnings

The Marygold Companies, Inc. Common Stock

MGLD

Marygold Companies Q4 EPS $(0.05) Down From $0.03 YoY, Sales $8.30M Down From $8.90M YoY

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Wednesday, December 04, 2019