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CW Petroleum Corp is engaged in the supply and distribution of biodiesel, biodiesel blends, ultra-low sulfur diesel, gasoline blends, renewable gasoline, and a proprietary EPA-approved reformulated no-ethanol gasoline to distributors, convenience stores, and marinas. The company's product offering includes biodiesel, reformulated and conventional gasoline with 10% ethanol, ultra-low sulfur diesel fuel with or without biodiesel blends, reformulated 12.5% isobutanol blended no ethanol gasoline; and biodiesel additives and its services include transportation hauling of refined products and chemicals, RIN trading services, tote service, drumming service, and trans-loading services.

CW Petroleum Corp

Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) is facing a significant setback as its AI-powered ad tools are malfunctioning, leading to a waste of ad budgets and a decline in sales. This has prompted businesses to <a href="https://www.benzinga.com/news/24/03/37885090/mark-zuckerberg-led-meta-faces-class-action-lawsuit-over-alleged-misrepresentation-of-facebook-insta">reconsider their advertising strategies</a> on Meta&#8217;s platforms.
What Happened: Meta&#8217;s automated ad tools, particularly the Advantage Plus shopping campaigns, have been misfiring since Valentine&#8217;s Day, <a href="https://www.theverge.com/2024/4/28/24141585/meta-ai-advantage-plus-automated-ad-glitch-cpm">reported</a> The Verge. The glitch has resulted in a significant increase in cost per impressions or CPMs and a failure to generate sales, causing small businesses to lose their ad budgets.
However, the recurring issues, the Mark Zuckerberg-led company has reportedly not been forthcoming about the performance glitches, leading to widespread uncertainty among advertisers. The company&#8217;s customer support has also been <a href="https://www.benzinga.com/news/24/03/37501959/meta-employees-fear-layoffs-as-companys-year-of-efficiency-becomes-permanent-report">affected by recent layoffs</a>, with many inquiries now being directed to AI chatbots.
Marketers say that as opposed to <a href="https://www.benzinga.com/markets/equities/24/01/36678631/metas-ai-magic-ad-returns-reportedly-soar-32-with-breakthrough-technology-boost">Meta&#8217;s enthusiastic promotion</a> of Advantage Plus shopping campaigns as an effortless, &#8220;set it and forget it&#8221; automated solution to online advertising during earnings calls, the reality has not matched the hype.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38463199/dan-ives-says-ai-is-the-fourth-industrial-revolution-after-robust-results-from-micr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dan Ives Says AI Is The &#8216;Fourth Industrial Revolution&#8217; After &#8216;Robust&#8217; Results From Microsoft And Google: &#8216;1995 Moment&#8217;</a>
&#8220;Meta's unwillingness to be transparent or accountable with the performance issues and glitches is causing mass uncertainty,&#8221; stated Karl Baker, founder of meditation startup Mindfulness Works.
&#8220;We have a couple of clients for whom we completely stopped Advantage Plus due to these anomalies,&#8221; said Aniruddha Mishra, director of growth at Node Media.
Although Meta has refunded some affected businesses, the issues persist, with some clients experiencing CPMs three to four times higher than last year. Meta has denied any glitches, insisting that the tool is functioning as intended.
&#8220;The only thing [Meta] acknowledged was there was a platform bug on February 14th and apologized for the inconvenience,&#8221; said RC Williams, the co-founder of marketing agency 1-800-D2C. 
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
As per the report, despite Meta&#8217;s assurances, many businesses have stopped using Advantage Plus and reverted to manual ad campaigns. This development is significant as Meta had initially pitched Advantage Plus as a faster and more efficient alternative to manual ad campaigns.
Why It Matters: The malfunctioning of Meta&#8217;s AI ad tools comes at a time when the company is already facing legal challenges. In March, Meta was <a href="https://www.benzinga.com/news/24/03/37885090/mark-zuckerberg-led-meta-faces-class-action-lawsuit-over-alleged-misrepresentation-of-facebook-insta">hit with a class-action lawsuit</a> over allegations of misrepresenting the audience size for its Facebook and Instagram advertising services. 
Meanwhile, the ad system issues have created an opportunity for competitors. Earlier this month, Elon Musk invited advertisers to <a href="https://www.benzinga.com/news/24/04/38216195/elon-musk-asks-advertisers-to-return-to-x-after-months-of-tussle-with-disney-apple-and-others-as-zuc">return to his social media platform</a>, X, formerly Twitter, following reports of significant issues in Meta&#8217;s advertising system. 
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38459459/put-it-in-the-louvre-tech-bull-praises-google-parent-alphabets-major-breakout-quart?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8221;Put It In The Louvre:&#8217; Tech Bull Praises Google Parent Alphabet&#8217;s &#8216;Major Breakout Quarter,&#8217; Says It Is &#8216;Now In The Party&#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.

News

Tech

Media

Mark Zuckerberg-Led Meta's 'Set It And Forget It' AI Tools Misfire, Wasting Ad Budgets And Driving Away Businesses: Report

Electric vehicle maker Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) has revealed <a href="https://www.benzinga.com/news/23/02/30990814/want-to-charge-your-electric-vehicle-faster-rivian-may-have-a-solution-according-to-new-patent">a new charger design</a> that will open its Rivian Adventure Network (RAN) to a wider range of EVs later this year.
Expanding Accessibility:&nbsp;In a press release, Rivian announced plans to make the RAN accessible to all compatible EVs through the new charger design. These chargers will cater to a broader range of vehicles by featuring compatibility with&nbsp;both&nbsp;400-volt and 800-volt battery packs, utilizing CCS connectors, and offering support for the North American Charging Standard (NACS).
While an approved adapter will be initially needed for vehicles using Tesla&#8217;s NACS chargers, Rivian intends to introduce native NACS charging support through a future hardware update.
Commitment To Infrastructure Expansion: &#8220;Rivian exists to address two specific needs, the electrification of our transportation system and supporting the transition of our power grid to carbon-free energy sources,&#8221; said Paul Frey, Rivian&#8217;s Vice President of Battery, Charging, and Adventure Products.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Electrons for all! Later this year we'll begin opening the Rivian Adventure Network to compatible electric vehicles. We'll also be introducing new chargers that feature a convenient tap-to-pay experience and the ability to provide fast charging to a wide range of EVs across a… <a href="https://t.co/pE7CX0NNr5">pic.twitter.com/pE7CX0NNr5</a>
&mdash; Rivian (@Rivian) <a href="https://twitter.com/Rivian/status/1783921089275678739?ref_src=twsrc%5Etfw">April 26, 2024</a></blockquote>
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All new RAN stations will be built&nbsp;with the next-generation chargers, and&nbsp;existing sites will be retrofitted&nbsp;with the&nbsp;new&nbsp;hardware. Additionally, the company prioritizes installing pull-through charging stalls at new locations whenever feasible, ensuring convenient access for vehicles towing trailers.
Why It Matters:&nbsp;The updated hardware design allows Rivian to leverage funding from the U.S. National Electric Vehicle Infrastructure (NEVI) program, along with&nbsp;additional state and utility programs focused on supporting EV charging infrastructure growth.
This development comes after Rivian previously advised its drivers <a href="https://www.benzinga.com/news/24/04/38022983/rivian-urges-drivers-to-avoid-third-party-adapters-at-tesla-superchargers" target="_blank" rel="noreferrer noopener">against using third-party adapters</a> at Tesla Superchargers. Rivian vehicles utilize a Combined Charging System (CCS) port, requiring an adapter for compatibility with Tesla&#8217;s Supercharger network, which uses NACS. News emerged in March 2024 suggesting Rivian vehicles had achieved compatibility with Tesla&#8217;s Superchargers.
Photo courtesy: Rivian

RIVN

Rivian Unveils New Charger Design, Opens Adventure Network To Other EVs

As Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) faces some uncertainty, the crypto world is buzzing with talk of the &#8220;Memecoin Supercycle.&#8221;
Bitcoin Faces &#8216;Second Danger Zone&#8217;
Bitcoin is facing a challenging moment, with a possible downturn on the horizon, as warned by a pseudonym <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38475783/bitcoin-faces-second-danger-zone-as-analyst-warns-of-potential-downside-heres-what-">crypto analyst</a>, RektCapital. Comparing the current correction to Bitcoin&#8217;s price action around the 2016 halving, the analyst foresees similarities in the potential for two corrective waves. 
RektCapital suggests that Bitcoin might experience another pullback in the next couple of weeks, possibly remaining in a &#8220;post-halving danger zone&#8221; until the following month. 
Emphasizing Bitcoin&#8217;s critical support level of around $60,000, the analyst indicates its importance in potentially enduring the forthcoming weeks&#8217; volatility.
Whale Makes Waves With $77.67M Bitcoin Deposit
A significant Bitcoin whale has made waves in the crypto market by depositing a whopping $77.67 million worth of BTC into the Kraken exchange. This sizable transaction, totaling 1,200 Bitcoin, caught the attention of market watchers, especially considering the whale&#8217;s previous accumulation of 24,755 BTC valued at $1.68 billion. 
The whale&#8217;s average purchase price during the accumulation period was $68,051 per Bitcoin. <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38476692/as-bitcoin-plunges-whale-makes-waves-with-77-67m-deposit-into-kraken">Crypto analysts note</a> that exchange inflows from Bitcoin whales have surged to their highest point in five months, indicating a potential trend of significant holders cashing in profits, possibly foreshadowing a substantial price correction in the near future.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38469336/meme-coins-are-a-pure-ponzi-and-destroying-crypto-says-trader-who-thinks-dogecoin-was-diff?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meme Coins Are &#8216;A Pure Ponzi&#8217; And &#8216;Destroying Crypto,&#8217; Says Trader Who Thinks Dogecoin Was Different</a>
Crypto Analyst Predicts 260% Surge For This Altcoin
Cryptocurrency strategist Altcoin Sherpa predicts an impressive surge in the value of Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), forecasting a 267% increase by the end of 2024, potentially surpassing $500. He suggests that acquiring Solana at current levels could yield significant gains, emphasizing potential future profitability. 
Additionally, Altcoin Sherpa <a href="https://twitter.com/AltcoinSherpa/status/1783907000427946308?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1783907000427946308%7Ctwgr%5E3fc5a48b01044cd11610b598274cc90a08a3ca5e%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.benzinga.com%2Fmarkets%2Fcryptocurrency%2F24%2F04%2F38478483%2Fcrypto-analyst-predicts-this-altcoin-will-explode-260-in-2024-and-its-not-dogecoin-or-shib">highlights</a> opportunities in AI-focused cryptocurrencies Fetch.ai (FET) and Render (RNDR), anticipating favorable buying levels amidst market volatility. He suggests starting to accumulate these coins at specific price levels for potential rebounds and rallies. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a>: Averaging into SOL is never a bad idea IMO. I think this goes to $500+ later this year. Anywhere from $130-$110 would be a gift (not quite expecting that yet) <a href="https://t.co/eCTNfYDMBK">pic.twitter.com/eCTNfYDMBK</a>
&mdash; Altcoin Sherpa (@AltcoinSherpa) <a href="https://twitter.com/AltcoinSherpa/status/1783912486229430588?ref_src=twsrc%5Etfw">April 26, 2024</a></blockquote>
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<h3 class="wp-block-heading">What Happened To The &#8216;Memecoin Supercycle&#8217;? </h3>
Ivan Crnogatić analyzed the current state of meme coins and whether the &#8220;memecoin supercycle&#8221; is coming to an end in his <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38479551/is-the-memecoin-supercycle-over-mad-crypto-alpha-with-ivan">weekly column</a> &#8220;Mad Crypto Alpha.&#8221; He delved into why venture capitalists (VCs) hold negative views toward meme coins, citing concerns about industry legitimacy and regulatory scrutiny.
Crnogatić also pointed out that VCs have contributed to the rise of meme coins through their &#8220;tokenomics&#8221; strategies. He also discussed the recent performance of top meme coins, noting significant declines in their value over the past month. 
Despite these challenges, Ivan suggested that the market may witness a consolidation into more established winners. He remained optimistic about Bitcoin&#8217;s potential for further growth, especially given geopolitical instability and demographic changes. Ultimately, Ivan concluded that the memecoin supercycle may not be over yet, hinting at a potential resurgence in the near future.
Price Action: Bitcoin was last trading down over 2% at $62,560.45. But, it has surged by 42.88% year to date, according to <a href="https://benzinga.grsm.io/register174" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38461748/holding-10-000-dogecoin-could-make-you-a-millionaire-predicts-crypto-analyst?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Holding 10,000 Dogecoin Could Make You A Millionaire, Predicts Crypto Analyst</a>
Image Via Shutterstock 
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://benzinga.com/apis" target="_blank" rel="noreferrer noopener"></a>

Analyst Color

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

Cryptocurrency

$BTC

$SOL

Bitcoin Faces Potential Downturn As Analysts Eye 'Second Danger Zone' — But What Happened To 'Memecoin Supercycle?'

In a significant development for California&#8217;s&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36550777/ev-stampede-coming-to-america-with-over-70-models-in-next-2-years-says-cox-automoti" rel="noreferrer noopener">electric vehicle infrastructure</a>,&nbsp;the Golden State now boasts one EV charging station for every five gas stations.
What Happened: As reported earlier by&nbsp;<a target="_blank" href="https://www.teslarati.com/california-ev-charging-milestone/" rel="noreferrer noopener">Teslarati</a>, the office of Governor&nbsp;Gavin Newsom&nbsp;announced that California now has 105,000 public or shared private EV chargers. This figure surpasses the one-fifth marker of the approximately 10,423 retail gas stations in the state, according to 2021 data from Statista.
While the state still has a long way to go before EV charging stations outnumber gas refueling stations, California is leading the U.S. in achieving multiple EV goals, especially considering its 2035 ban on new gas car sales.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Huge news for California drivers – the Tesla supercharging network is opening to non-Tesla vehicles! This adds thousands of fast chargers to California&#39;s EV charging network, bringing us to more than 105,000 public EV chargers – including 10,000 fast chargers – and counting. <a href="https://t.co/g69lIUkkT9">pic.twitter.com/g69lIUkkT9</a>
&mdash; California Governor (@CAgovernor) <a href="https://twitter.com/CAgovernor/status/1784255117912625458?ref_src=twsrc%5Etfw">April 27, 2024</a></blockquote>
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See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/best-ev-penny-stocks" rel="noreferrer noopener">Best EV Penny Stocks</a>
California&#8217;s EV charging infrastructure and overall adoption of battery-electric vehicles (BEVs) are the highest in the country. The press release stated that if California were a country, it would rank fourth in global EV sales, following China, the U.S., and Germany. In 2023, one-third of all U.S. BEV sales occurred in California.
California has&nbsp;a total of&nbsp;1.8 million zero-emission vehicle (ZEV) sales to date. The state recently approved a $1.9 billion plan to install up to 40,000 new public EV chargers. This announcement comes as&nbsp;Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has begun opening its Supercharger network to other EV brands, starting with Ford and Rivian.
Why It Matters: California&#8217;s EV market has&nbsp;seen significant growth, with&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/02/37247746/tesla-dominates-california-new-vehicle-sales-in-2023-heres-how-the-ev-carmaker-compares-to-gm-ford-t" rel="noreferrer noopener">Tesla</a>&nbsp;dominating new vehicle sales in 2023. The state&#8217;s commitment to EVs was further underlined by a&nbsp;<a target="_blank" href="https://www.benzinga.com/news/23/08/33882593/california-adds-2-000-ev-credit-for-residents-heres-how-much-you-can-save-now" rel="noreferrer noopener">$2,000 EV credit</a>&nbsp;for residents, making EVs more affordable.
However, traditional automakers like&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/01/36838123/toyota-dominates-california-with-combustion-engine-models-but-it-faces-a-growing-ev-onslaught" rel="noreferrer noopener">Toyota</a>&nbsp;continue to sell&nbsp;large numbers of&nbsp;combustion engine vehicles in the state. The recent milestone in EV infrastructure signals a shift in this trend, with California pushing for a greener future.
Read Next: <a href="https://www.benzinga.com/news/24/04/38453221/another-blow-to-tesla-hertzs-ev-disposal-plan-jumps-by-10k-as-car-rental-company-aims-for-95-gas-pow?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Another Blow To Tesla? Hertz&#8217;s EV Disposal Plan Jumps By 10K </a>
Photo via Shutterstock
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TSLA

California Leads The Charge: Golden State Now Has 1 EV Charger For Every 5 Gas Stations

In a recent CNN poll, former President&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38479193/donald-trump-goes-off-on-one-candidate-for-stealing-potential-votes-away-from-him-in-tight-race-agai" rel="noreferrer noopener">Donald Trump</a>&nbsp;is found to be leading President&nbsp;Joe Biden&nbsp;in the prospective 2024 presidential race, with public opinions about their presidencies varying significantly.
What Happened: The poll, carried out by SSRS and reported by&nbsp;<a target="_blank" href="https://edition.cnn.com/2024/04/28/politics/cnn-poll-trump-biden-matchup/index.html" rel="noreferrer noopener">CNN</a>, reveals that Trump&#8217;s support among registered voters remains steady at 49% in a direct contest against Biden, who is at 43%. This result does not differ significantly from CNN&#8217;s previous national poll on the race conducted in January.
Interestingly, 55% of Americans now view Trump's presidency as a success, while 44% perceive it as a failure. On the other hand, 61% of Americans believe Biden's presidency has been a failure so far, while 39% consider it a success.
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/best-binary-options" rel="noreferrer noopener">The Best Performing Stock Binary Options for 2024</a>
Public opinion of former presidents usually improves over time, but no other modern president has sought a return to power after an electoral defeat. Biden&#8217;s performance in office has been viewed negatively for much of his presidency.
When independent candidates&nbsp;Robert F. Kennedy Jr.&nbsp;and&nbsp;Cornel West, along with Green Party candidate&nbsp;Jill Stein, are factored into the matchup, Trump secures 42% to Biden's 33%, with Kennedy at 16%, West at 4%, and Stein at 3%.
The SSRS conducted the poll from April 18-23 among a random national sample of 1,212 adults, including 967 registered voters.
Why It Matters: Predicting the potential outcome of a Biden vs. Trump contest in the 2024 election has been a complex task.&nbsp;
Historical trends suggest that Biden&#8217;s chances might be slim. His 13th quarter in office saw&nbsp;<a target="_blank" 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" rel="noreferrer noopener">an average job approval</a>&nbsp;rating of 38.7%, the lowest among the nine past presidents elected to their first terms, according to Gallup.&nbsp;
The analytics firm noted that no other president elected to their first term since Dwight Eisenhower in 1956 had a lower rating than Biden. The poll was conducted from April 1-22.
Read Next:&nbsp;<a target="_blank" 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" 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>
Image via Shutterstock
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 Benzinga Neuro, Edited by 
 
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Politics

Trump Vs Biden: New Poll Reveals Shift In 2024 Race As Public Divided On Presidents' Legacies

Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google Play Store has introduced a feature that allows users to download and install two Android apps simultaneously. 
What Happened: After several years of intermittent testing, Google has now widely implemented the feature of&nbsp;simultaneous app downloads and installs&nbsp;on the Play Store. 
Users can now observe this feature in action by installing two apps, preferably larger downloads such as&nbsp;Google Docs, Sheets, and Slides, <a href="https://9to5google.com/2024/04/28/google-play-simultaneous-downloads/">reported</a>&nbsp;9to5Google on Sunday. 
Instead of waiting for one app to complete its download and installation, both apps will now download and install concurrently. This updated behavior is currently limited to new installs and only&nbsp;works with two apps at&nbsp;a time.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/04/38357333/elon-musk-reacts-to-tucker-carlson-saying-theres-ton-of-evidence-that-aliens-live-among-us-with-6000?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts To Tucker Carlson Saying There&#8217;s &#8216;Ton Of Evidence&#8217; That Aliens Live Among Us: &#8216;With 6000 Satellites Orbiting Earth, I Think I Would Know&#8217;</a>
As of now, this feature does&nbsp;not apply to application updates,&nbsp;which would be more useful&nbsp;considering that&nbsp;updating is more common than&nbsp;fresh installs. However, it is hoped that this is just the beginning, and Google Play will expand this feature to include updates as well.
This change is currently visible&nbsp;on several Pixel phones and&nbsp;tablets&nbsp;running Android 14 and version&nbsp;40.6.31 of the Play Store, the report noted. 
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: This update comes after a significant legal setback for <a href="https://www.benzinga.com/news/23/12/36189690/google-shutting-down-play-movies-tv-here-is-what-users-can-expect">Google&#8217;s Android app store</a>. In December last year, a&nbsp;<a href="https://www.benzinga.com/news/23/12/36189035/federal-jury-rules-against-googles-android-app-store-in-epic-games-lawsuit">federal jury ruled</a>&nbsp;that Google&#8217;s Android app store had unfairly taken advantage of antitrust barriers, causing harm to both consumers and software developers. 
The lawsuit was filed by Epic Games, the creators of the popular video game Fortnite. The jury&#8217;s unanimous decision focused on Google&#8217;s Play store, which is used by hundreds of millions worldwide to download apps for Android smartphones. 
Before the trial, Epic Games alleged that Google used &#8220;bribe and block&#8221; strategies to stifle competition within the Google Play store. Gary Bornstein, representing Epic, said that Google&#8217;s actions led to increased prices, compromised quality and fewer consumer options, all the while bolstering Google&#8217;s profits.
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/analyst-ratings/analyst-color/24/04/38459459/put-it-in-the-louvre-tech-bull-praises-google-parent-alphabets-major-breakout-quart?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Put It In The Louvre:&#8217; Tech Bull Praises Google Parent Alphabet&#8217;s &#8216;Major Breakout Quarter,&#8217; Says It Is &#8216;Now In The Party&#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.
Image via Shutterstock

GOOG

GOOGL

Wait No More: Google Play Store Launches Parallel App Downloads

While fears of a Chinese EV invasion grip the United States, a surprising trend has emerged: China&#8217;s&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/03/37886073/warren-buffett-backed-byd-forays-into-yet-another-european-country-with-best-selling-atto-3-seal-ev" rel="noreferrer noopener">top electric vehicle maker</a>,&nbsp;BYD Co.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>), isn&#8217;t flooding Europe with bargain-basement cars.&nbsp;Instead,&nbsp;it&#8217;s charging significantly higher prices compared to&nbsp;their home market, raking in hefty profits.
BYD Looks At High Prices, High Profits:&nbsp;A Reuters investigation reveals BYD is marking up export prices by massive margins – sometimes nearly triple – for popular models like the Atto 3 and Dolphin compared to China. In Germany, for instance, the Atto starts at a whopping $42,789, compared to a much friendlier $19,283 price tag in China.
So, Why The Disparity? It all boils down to profits. BYD faces fierce competition in China&#8217;s cutthroat EV market, forcing them to keep prices low. By jacking up export prices, they capture significantly higher margins they can&#8217;t achieve domestically.
See Also: <a href="https://www.benzinga.com/money/best-chinese-stocks" target="_blank" rel="noreferrer noopener">5 Best Chinese Stocks Right Now</a>
Cost Advantages Fueling Profits:&nbsp;BYD enjoys several cost advantages over foreign competitors. They control most of their production chain, from raw materials to batteries, leading to significant cost savings. Additionally, China heavily subsidizes EV production, further lowering costs. This edge allows BYD to offer competitive prices in Europe, even after substantial markups.
Tesla&#8217;s More Modest Markup:&nbsp;Interestingly,&nbsp;Tesla, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) with a higher cost base than BYD, only marks up its Chinese-made Model 3 by 37% in Germany.&nbsp;This&nbsp;suggests BYD&#8217;s export markups are strategic, aiming to maximize profits rather than undercut competition.
Building Brand, Not a Price War: Experts believe BYD&#8217;s strategy goes beyond immediate profits and is aiming to shed the &#8220;cheap Chinese product&#8221; label and build a strong brand with premium offerings. Its focus on maintaining strong resale values aligns with this strategy.
The European Challenge:&nbsp;&nbsp;However, BYD&#8217;s European ambitions face potential roadblocks. While some U.S. and European automakers fear a Chinese EV price war, BYD&#8217;s current strategy suggests otherwise.&nbsp;
But&nbsp;<a target="_blank" href="https://www.benzinga.com/24/04/38223247/the-expansion-of-chinas-ev-makers-could-threaten-the-legacy-of-european-automakers" rel="noreferrer noopener">Europe&#8217;s EV market</a>&nbsp;is experiencing a slowdown compared to China and the US, with sales dropping 9% in March 2024 compared to the previous year.&nbsp;This&nbsp;could limit BYD&#8217;s immediate sales potential.
Furthermore, trade tensions simmer between Europe and China.&nbsp;Currently, Chinese EVs face a 10% tariff in Europe, while European carmakers are subject to a 15% tariff when exporting to China. This disparity has&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/03/37744641/mercedes-benz-ceo-calls-for-lower-eu-tariffs-on-chinese-evs-amid-commission-probe-let-competition-pl" rel="noreferrer noopener">some European automakers</a>&nbsp;calling for a &#8220;level playing field.&#8221; The European Commission, meanwhile, is even&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/asia/24/01/36612885/chinese-ev-makers-byd-geely-under-eu-scrutiny-report" rel="noreferrer noopener">investigating potential punitive tariffs</a>&nbsp;on Chinese EVs, citing concerns about unfair state subsidies.
China&#8217;s EV Expansion Continues: Despite these challenges, Chinese EV makers continue their aggressive expansion. XPeng and BYD are just the tip of the spearhead entering Europe, and other automakers might follow suit. This raises a crucial question for established European carmakers: can they adapt and compete with the surging Chinese EV industry, or will they need to <a href="https://www.benzinga.com/markets/asia/23/07/33411425/european-automakers-forge-power-packed-partnerships-in-china-to-conquer-booming-ev-market">partner with Chinese companies</a> to access technology and navigate the changing electric car landscape?
The Takeaway: For now, BYD prioritizes maximizing profits and building brand image in Europe, leaving aggressive price competition for another day. Their focus? Maximum profit, not market domination – at least for now. However, the European market&#8217;s slowdown and potential trade disputes could complicate their long-term strategy. The race for dominance in the global EV market is far from over, and BYD&#8217;s next moves will be closely watched.
Read Next: <a href="https://www.benzinga.com/news/24/04/38480035/unlocking-teslas-hidden-treasures-7-lesser-known-features-that-could-revolutionize-your-driving-expe" target="_blank" rel="noreferrer noopener">Unlocking Tesla&#8217;s Hidden Treasures: 7 Lesser-Known Features That Could Revolutionize Your Driving Experience</a>
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Asia

Eurozone

Markets

BYDDF

BYDDY

Why Tesla Rival BYD Charges Up To 3x More For EVs In Europe While China Prices Remain Shockingly Low

Gold has been on a remarkable rise in 2024, reaching record highs. The surge is attributed to a combination of factors, including the de-dollarization trend, central bank buying, and increased demand from the East.
What Happened: The price of gold has been soaring, despite the macro environment, which was expected to create challenges for the precious metal. Billionaire investor David Einhorn suggested a &#8220;secular trend&#8221; of Eastern countries buying gold from the West as a possible explanation for the surge, <a href="https://markets.businessinsider.com/news/commodities/gold-price-record-high-china-reserves-dedollarization-consumers-commodities-einhorn-2024-4">reported</a> Business Insider.
&#8220;Perhaps the West is running out of gold it is willing to sell, while Eastern demand has remained strong enough to force the price higher,&#8221; he said. 
China, the second-largest economy globally, has been particularly active in this trend, increasing its gold reserves by 16% over the past 17 months. Other countries, such as India and Singapore, have also been stockpiling gold to hedge against global economic turbulence. This increased demand has driven up the price of gold.
Ed Yardeni, an esteemed market expert, foresees the possibility of gold reaching $3,500 within the upcoming year, indicating a potential 50% increase. He compares today&#8217;s inflation patterns to those of the 1970s Great Inflation era, implying that similar conditions could drive gold to unprecedented levels.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38440908/investors-shuffle-stock-positions-in-aurora-cannabis-beyond-earnings-liquidity-look?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Investors Shuffle Stock Positions In Aurora Cannabis: Beyond Earnings, Liquidity Looks Appealing</a>
Why It Matters: The surge in gold prices is not an isolated event. Earlier in April, Einhorn, the founder of Greenlight Capital, revealed that he was loading up on gold as a hedge <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38099167/greenlights-david-einhorn-is-loading-up-on-gold-as-a-hedge-against-something-not-so-good">against potential inflation</a>. This move aligns with his recent theory on the surge in gold prices.
Meanwhile, economist Peter Schiff has warned against piling into risk assets like tech stocks and Bitcoin amid <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38358074/peter-schiff-warns-against-piling-risk-assets-like-tech-stocks-and-bitcoin-amid-inf">inflation concerns</a>, advocating for gold as a safer investment. 
Similarly, billionaire investor Ray Dalio has been sticking with gold as a <a href="https://www.benzinga.com/news/24/04/38350894/billionaire-investor-ray-dalio-is-sticking-with-gold-as-a-hedge-against-inflation-history-and-logic">hedge against inflation</a>, citing historical and logical reasons for his stance.
Price Action: Gold prices experienced a slight decline, closing at $2,328.94, down 0.39% from the previous session&#8217;s close of $2,337.97. Over the past 52 weeks, gold has fluctuated between a low of $1,810.75 and a high of $2,431.02, with the current price settling near the middle of this range at $2,328.94, according to the data&nbsp;<a href="https://www.benzinga.com/pro/" target="_blank" rel="noreferrer noopener">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38468834/intel-still-a-work-in-progress-as-turnaround-efforts-take-root-analysts-say-after-q?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Intel ‘Still A Work In Progress' As ‘Turnaround Efforts Take Root,&#8217; Analysts Say After Q1 Disappointment</a>
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Commodities

Global

Economics

Gold Soars Against The Odds: Eastern Buying Spree Or 1970s Redux? Billionaire Investor David Einhorn Thinks There's A 'Secular Trend'

Tesla and SpaceX CEO Elon Musk has <a href="https://www.benzinga.com/news/24/04/38474588/elon-musk-claps-back-at-facebook-co-founders-consumer-fraud-accusations-against-tesla-should-go-to-j">once again taken</a> to his social media platform X, formerly Twitter, targeting a company owned by former Facebook co-founder Dustin Moskovitz.
What Happened: On Sunday, Musk responded to a post criticizing Moskovitz&#8217;s company, Asana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASAN#NYSE">ASAN</a>), for its work management model. The post by a user, who goes by the name &#8220;Whole Mars Catalog (Supervised)&#8221; on the platform, suggested that Asana&#8217;s services are nothing but a &#8220;to-do list.&#8221; 
&#8220;The most hilarious part of Dustin Moskovitz attacking the Tesla AI team is that after leaving Facebook he started a to-do list app,&#8221; the user said, adding, &#8220;Really? You&#8217;re going to shit on the people changing the world when you were handed billions and decided the world needed another to-do list?&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/04/38471231/strong-quarterly-earnings-fuel-market-optimism-despite-inflation-concerns-slowing-economic-growt?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Despite Microsoft, Google&#8217;s &#8216;Spectacular Quarters,&#8217; Billionaire &#8216;Bond King&#8217; Bill Gross Warns Against Tech, Advocates For Value Stocks</a>
Musk commented on the post, saying, &#8220;I never knew what Asana did until today. Why would anyone pay money for functionality that comes for free on your phone?&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I never knew what asana did until today. Why would anyone pay money for functionality that comes for free on your phone?
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1784567452481032650?ref_src=twsrc%5Etfw">April 28, 2024</a></blockquote>
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Asana is a software firm, which offers a <a href="https://www.benzinga.com/trading-ideas/long-ideas/23/09/34783523/over-18m-bet-on-asana-check-out-these-3-stocks-insiders-are-buying">work management platform</a> designed to facilitate the orchestration of tasks across teams, spanning from daily activities to cross-functional strategic endeavors.
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: Last week, Moskovitz, who is the CEO and co-founder of Asana,&nbsp;accused Tesla of <a href="https://www.benzinga.com/news/24/04/38474626/tesla-is-now-enron-folks-facebook-co-founder-claims-musks-ev-giant-is-cooking-up-some-fsd-data">consumer fraud&nbsp;on a massive scale</a>. He likened Tesla&#8217;s actions to those of Enron, a corporation that went bankrupt in 2001 due to a massive accounting fraud.
&#8220;I know I sound crazy to most people who don't follow $TSLA closely but at this&nbsp;point&nbsp;it&nbsp;really&nbsp;needs to be said. This is Enron now, folks,&#8221; he said in a post on Threads. 
Musk&nbsp;responded to <a href="https://www.benzinga.com/news/24/04/38476524/facebook-co-founder-brings-back-old-memories-as-he-alleges-elon-musks-tesla-will-be-the-next-enron-h">these allegations</a>&nbsp;by taking a swipe at Moskovitz, and saying, he &#8220;should go to jail for impersonating a smart person.&#8221; This public exchange between the two tech giants has sparked a lot of interest in the industry.
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/24/04/38477795/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 <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.
Photo via Shutterstock

Social Media

ASAN

Musk Vs. Moskovitz Rages On As Tesla CEO Trolls Facebook Co-Founder's Company: 'Why Would Anyone Pay Money For Functionality That Comes For Free On Your Phone?'

Insider Trades

Bloomberg Announced Earlier, Cleveland-Cliffs Backs Ancora In Norfolk Southern Fight

Alterity Therapeutics ((ASX: ATH, NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATHE#NASDAQ">ATHE</a>) (&ldquo;Alterity&rdquo; or &ldquo;the Company&rdquo;), a biotechnology company dedicated to developing disease modifying treatments for neurodegenerative diseases, today announced that important new data on its lead drug candidate ATH434 was presented at the World Orphan Drug Congress USA 2024 in Boston, MA. The poster, entitled, &ldquo;Biophysical Characteristics of ATH434, a Unique Iron-Targeting Drug for Treating Friedreich&rsquo;s Ataxia&rdquo;, was presented by Ashley Pall, Department of Pharmaceutical Sciences at Wayne State University. The study evaluated the ability of ATH434 to target the toxic form of iron that drives the pathology of Friedreich&rsquo;s Ataxia, a rare neurodegenerative disease that affects young children to young adults. The study also evaluated traditional iron chelators that are designed to bind iron and remove iron from the body. Conversely, an iron chaperone is designed to bind and redistribute iron within the bod

Alterity Therapeutics Limited - American Depositary Shares

ATHE

Alterity Therapeutics Announced Presentation Of New Data Demonstrating Potential Of ATH434 To Treat Rare Neurodegenerative Disease Friedreich's Ataxia

<a href="https://www.bloomberg.com/news/articles/2024-04-28/redstones-ellison-seek-to-appease-paramount-investors-in-deal?srnd=homepage-americas&amp;embedded-checkout=true" title="https://www.bloomberg.com/news/articles/2024-04-28/redstones-ellison-seek-to-appease-paramount-investors-in-deal?srnd=homepage-americas&amp;embedded-checkout=true">https://www.bloomberg.com/news/articles/2024-04-28/redstones-ellison-seek-to-appease-paramount-investors-in-deal?srnd=homepage-americas&amp;embedded-checkout=true</a>

PARA

Bloomberg Reported Redstone Family, David Ellison Offer Concessions To Boost Paramount Global's Appeal To Smaller Investors; Ellison To Buy Shares At Premium

Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is gearing up to&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38130429/new-cybertruck-orders-will-only-be-delivered-in-2025-says-tesla-website" rel="noreferrer noopener">enhance its Cybertruck</a>&nbsp;with a range of new off-roading features, as disclosed in a video released over the weekend.
What Happened: As reported by&nbsp;<a target="_blank" href="https://www.teslarati.com/tesla-cybertruck-off-roading/" rel="noreferrer noopener">Teslarati</a>&nbsp;on Sunday, the forthcoming off-roading tools for Tesla&#8217;s Cybertruck were displayed in a video shared by Top Gear.&nbsp;
The video highlights the new features, including extra off-roading modes, access to pitch and angle settings, and front and rear locking differential access.
The video, shot in Johnson Valley, California, showcases a Cybertruck and a Rivian R1T testing the Tesla pickup&#8217;s off-roading capabilities. The electric trucks are seen performing four off-roading tests: a rock crawl, a "whoops" test, a jump, and a sand dune crawl, with the Cybertruck employing some of the new features.
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See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/best-electric-vehicle-stocks" rel="noreferrer noopener">Best Electric Vehicle Stocks</a>
The new off-roading features consist of four dedicated terrain modes: all-purpose, rock, gravel/deep snow, and sand. The software also allows drivers to switch between turning the locking differentials all on, only the rear on, or all off.
While the release date for the new off-roading features remains uncertain, Tesla Cybertruck engineer Wes Morrill hinted that the upcoming release might include more than what the video reveals. Detailed release notes for the update will be made public soon, Morrill added.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">there is so much more packed into this release. We will post some detailed release notes in a bit. I&#39;ll do my best to answer some questions on there too
&mdash; Wes (@wmorrill3) <a href="https://twitter.com/wmorrill3/status/1784630328906371278?ref_src=twsrc%5Etfw">April 28, 2024</a></blockquote>
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Why It Matters: This update comes in the wake of a series of events that have highlighted the Cybertruck&#8217;s off-roading prowess.&nbsp;
In March 2024, a&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/03/37555561/watch-tesla-cybertruck-conquers-hells-revenge-in-utah-lead-engineer-hints-at-off-road-control-upgrad" rel="noreferrer noopener">video</a>&nbsp;showed the Cybertruck skillfully navigating the challenging Hell's Revenge trail in Moab, Utah.&nbsp;
Before that, in November 2023, Tesla CEO&nbsp;Elon Musk&nbsp;described the Cybertruck as &#8220;alien technology&#8221; when responding to a&nbsp;<a target="_blank" href="https://www.benzinga.com/news/23/11/35820474/elon-musk-calls-cybertruck-alien-technology-in-response-to-offroad-comparison-with-ford-f-150-lightn" rel="noreferrer noopener">video</a>&nbsp;comparing its offroad performance with Ford&#8217;s F-150 Lightning. Around the same time, another&nbsp;<a target="_blank" href="https://www.benzinga.com/news/23/11/35954986/why-wait-for-the-cybertruck-to-go-off-roading-new-video-shows-tesla-car-climb-dunes-faster-than-jeep" rel="noreferrer noopener">video</a>&nbsp;demonstrated a Tesla car outpacing two Jeeps in a&nbsp;sand&nbsp;dune climb.&nbsp;
Read Next: <a href="https://www.benzinga.com/news/24/04/38477052/elon-musk-overtakes-zuckerberg-as-worlds-third-richest-amid-stock-market-shake-up" target="_blank" rel="noreferrer noopener">Elon Musk Overtakes Mark Zuckerberg As World&#8217;s Third-Richest Amid Stock Market Shake-Up</a>
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Photo courtesy: Tesla

Tesla's Cybertruck Finally Getting Its Promised Off-Roading Features: Watch It Getting Tested For Rock Crawl, Jumps, Sand Dune Crawl And More

Silicon Valley veteran&nbsp;<a target="_blank" href="https://www.benzinga.com/news/22/08/28574965/end-of-slump-chamath-palihapitiyas-spac-nearly-doubles-following-business-combination-with-video-gam" rel="noreferrer noopener">Chamath Palihapitiya</a>, known as the &#8220;SPAC King&#8221; for his use of special purpose acquisition companies, recently shared a surprising story on the All-In Podcast. Palihapitiya, who left&nbsp;Facebook&nbsp;in 2011, revealed he almost became the head of iPhone at&nbsp;Apple&nbsp;after interviewing with the iconic&nbsp;Steve Jobs.
What Happened: Palihapitiya was reminiscing about his early days at&nbsp;Winamp, where he spearheaded a visionary 99-cent music download store concept. While the idea impressed big names, Palihapitiya said owner&nbsp;AOL&#8216;s internal politics stalled the project. Nine months later, iTunes launched a similar service, which he believed showcased Apple&#8217;s superior execution.
This anecdote transitioned into a bombshell revelation. Palihapitiya hesitantly shared that upon leaving Facebook in 2011, he interviewed for a job at Apple — specifically, the rumored head of iPhone role. 
&#8220;And I was adamant that I would never work for anybody until I heard it was Steve Jobs. And I was like, I will do whatever he says,&#8221; Palihapitiya said. &#8220;I would have driven his car.&#8221;
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/top-10-best-spacs" rel="noreferrer noopener">Top 10 Best SPACs Right Now</a>
A Small Twist: The venture capitalist said he would not get into the details of the interview rounds and the &#8220;process died&#8221; once it emerged that Jobs was not going to be CEO anymore, and Palihapitiya would end up <a href="https://www.google.com/search?q=site%3Abenzinga.com+tim+cook+became+ceo&amp;sca_esv=0498115c76c36171&amp;rlz=1C5CHFA_enIN989IN989&amp;ei=7o0uZulj7a_T6Q_pjrqIAg&amp;ved=0ahUKEwjpkrTpveWFAxXt1zQHHWmHDiEQ4dUDCBA&amp;uact=5&amp;oq=site%3Abenzinga.com+tim+cook+became+ceo&amp;gs_lp=Egxnd3Mtd2l6LXNlcnAiJXNpdGU6YmVuemluZ2EuY29tIHRpbSBjb29rIGJlY2FtZSBjZW9IzxxQkwJYzRpwAngAkAEAmAGSAaABvxWqAQQwLjIwuAEDyAEA-AEBmAIAoAIAmAMAiAYBkgcAoAeEBw&amp;sclient=gws-wiz-serp" target="_blank" rel="noreferrer noopener">reporting to </a><a href="https://www.google.com/search?q=site%3Abenzinga.com+tim+cook+became+ceo&amp;sca_esv=0498115c76c36171&amp;rlz=1C5CHFA_enIN989IN989&amp;ei=7o0uZulj7a_T6Q_pjrqIAg&amp;ved=0ahUKEwjpkrTpveWFAxXt1zQHHWmHDiEQ4dUDCBA&amp;uact=5&amp;oq=site%3Abenzinga.com+tim+cook+became+ceo&amp;gs_lp=Egxnd3Mtd2l6LXNlcnAiJXNpdGU6YmVuemluZ2EuY29tIHRpbSBjb29rIGJlY2FtZSBjZW9IzxxQkwJYzRpwAngAkAEAmAGSAaABvxWqAQQwLjIwuAEDyAEA-AEBmAIAoAIAmAMAiAYBkgcAoAeEBw&amp;sclient=gws-wiz-serp" target="_blank" rel="noreferrer noopener">Tim Cook</a>. &#8220;They said I wasn&#8217;t a good cultural fit for Apple in the new era,&#8221; he said.
&#8220;So then I went and I started&nbsp;Social Capital, but that was&nbsp;my only&nbsp;job interview that I had when I was leaving Facebook,&#8221; Palihapitiya said. &#8220;I was like a kid meeting his, I don&#8217;t even want to call it &#8216;idol.&#8217; I think I was like a believer meeting Jesus. That&#8217;s how it felt.&#8221;
The Twilight Of The Jobs Era:&nbsp;It&#8217;s important to note that 2011 was a significant year for Apple. Jobs, battling health issues, was nearing the end of his tenure as CEO. While details remain private, the interview process likely coincided with Jobs&#8217; decision to hand over the reins to&nbsp;Cook, a shift that would significantly impact Apple&#8217;s leadership structure.
Palihapitiya&#8217;s Facebook Years:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/cryptocurrency/20/09/17661717/spac-king-chamath-palihapitiya-on-facebook-tesla-and-bitcoin" rel="noreferrer noopener">Palihapitiya joined Facebook</a>&nbsp;in 2007 (the same year when the iPhone was launched) when it was a little over three years old, rising to become a prominent figure who led projects such as Facebook Home and Facebook Phone — which Palihapitiya had&nbsp;<a target="_blank" href="https://megaphone.link/VMP4299335263" rel="noreferrer noopener">said</a>&nbsp;would have &#8220;been an Apple iPhone-like moment.&#8221;
Read Next: <a href="https://www.benzinga.com/news/24/04/38478178/apples-rollercoaster-week-new-ipads-on-horizon-iphone-sales-slump-in-china-and-mark-zuckerbergs-jab" target="_blank" rel="noreferrer noopener">Apple&#8217;s Rollercoaster Week: New iPads On Horizon, iPhone Sales Slump In China And Mark Zuckerberg&#8217;s Jab At Vision Pro</a>
<a href="https://www.google.com/url?sa=i&amp;url=https%3A%2F%2Fwww.flickr.com%2Fphotos%2Ftechcrunch%2F10573766856&amp;psig=AOvVaw2ipJkwa-tndk9ItKLL1iOY&amp;ust=1714413553477000&amp;source=images&amp;cd=vfe&amp;opi=89978449&amp;ved=0CBQQjhxqFwoTCJCgiau-5YUDFQAAAAAdAAAAABAW">Photo</a> by TechCrunch on Flickr

'SPAC King' Chamath Palihapitiya Reveals He Was Interviewed By Steve Jobs And Almost Became Head Of iPhone: 'I Was Like A Believer Meeting Jesus'

Tesla cars are among the most popular electric cars in the world. From their sleek exteriors to their futuristic interiors, Tesla models like the Model S, Model 3, Model X, Model Y, and now Cybertruck boast a range of innovative technologies that set them apart in the market.
One of the standout qualities of Tesla cars is their comprehensive set of features designed to enhance both the driving experience and daily life for passengers.
Tesla's software updates also come with easter eggs sometimes, so if you've not discovered a new feature or an easter egg, check out the top seven hidden Tesla features.
See Also: <a href="https://www.benzinga.com/general/entertainment/24/04/38208715/here-are-5-funky-things-you-probably-didnt-know-your-iphone-can-do">Here Are 5 Funky Things You Didn't Know You Can Do With Your iPhone</a>
<h2 class="wp-block-heading">7 Hidden Tesla Features</h2>
<h3 class="wp-block-heading">1. Inbuilt Dashcam</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18102747/Tesla-Dashcam-1024x576.jpg" alt="" class="wp-image-298106" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18102747/Tesla-Dashcam-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18102747/Tesla-Dashcam-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18102747/Tesla-Dashcam-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18102747/Tesla-Dashcam-1536x864.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18102747/Tesla-Dashcam.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">A Tesla car with its built-in cameras activated, displaying a recording interface &#x7C; Image generated using Dall-E</figcaption></figure>
Driving a Tesla eliminates the need for a separate dash cam, as the car itself functions as one. Its built-in cameras record while driving, and Sentry Mode enhances security while parked.
To use this feature, prepare a USB drive formatted to "Fat32" with a folder named TeslaCam.
Insert the drive into a USB port (in the center console or glovebox) to activate the dash cam function. A camera icon with a red dot on the touchscreen confirms its operation.
This method of adding a USB drive also enables Sentry Mode, which monitors your parked car and records incidents automatically. To activate Sentry Mode, manually enable it each time you exit the car from Control &gt; Safety &gt; Sentry Mode &gt; On.
<h3 class="wp-block-heading">2. Reduce Autopilot Speed</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18102940/Autopilot-speed-1024x576.jpg" alt="" class="wp-image-298108" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18102940/Autopilot-speed-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18102940/Autopilot-speed-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18102940/Autopilot-speed-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18102940/Autopilot-speed-1536x864.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18102940/Autopilot-speed.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Close-up of the Tesla touchscreen with a finger tapping the speed limit icon &#x7C; Image generated using Dall-E</figcaption></figure>
Should you ever exceed the speed limit while using autopilot and need to promptly adjust your speed to comply with the limit, you can do so easily by tapping the speed limit icon on the screen, rather than adjusting the speed manually using the scroll wheel.
Tapping the speed limit icon will efficiently and safely decrease your speed, whether it&#8217;s to address an emergency or avoid traffic violations.
<h3 class="wp-block-heading">3. Caraoke Mode</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18103005/Caraoke-mode-1024x576.jpg" alt="" class="wp-image-298110" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18103005/Caraoke-mode-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18103005/Caraoke-mode-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18103005/Caraoke-mode-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18103005/Caraoke-mode-1536x864.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18103005/Caraoke-mode.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Interior of a Tesla in Caraoke mode &#x7C; Image generated using Dall-E</figcaption></figure>
Tesla&#8217;s Caraoke mode transforms your car into a mobile karaoke machine, displaying song lyrics prominently on the screen without obstructing essential driver information. Even better, this feature can be used while driving.
To access Caraoke, tap the Music icon at the bottom of your screen and choose Karaoke from the various available sources.
Songs are sourced from Stingray, and you can mute the vocals by tapping the microphone icon in the top corner.
Note that this feature requires an active data connection – you can either spring up $9.99 per month for Tesla Premium Connectivity or use your phone's Wi-Fi hotspot.
<h3 class="wp-block-heading">4. Joe Mode</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18103619/Joe-Mode-1024x576.jpg" alt="" class="wp-image-298127" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18103619/Joe-Mode-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18103619/Joe-Mode-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18103619/Joe-Mode-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18103619/Joe-Mode-1536x864.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18103619/Joe-Mode.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Tesla touchscreen displaying the &#8216;Joe Mode&#8217; activation page &#x7C; Image generated using Dall-E</figcaption></figure>
If the chimes in your Tesla are too loud for you or passengers in the rear seats, Joe Mode can reduce the volume by 50%.
Named after Joe, who initially voiced concerns about these noises disturbing his children, Joe Mode can be activated by navigating to Controls &gt; Safety &amp; Security &gt; Joe Mode.
<h3 class="wp-block-heading">5. Theater Mode</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18103642/Theater-Mode-1024x576.jpg" alt="" class="wp-image-298128" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18103642/Theater-Mode-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18103642/Theater-Mode-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18103642/Theater-Mode-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18103642/Theater-Mode-1536x864.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18103642/Theater-Mode.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">A Tesla parked with the &#8216;Theater Mode&#8217; enabled &#x7C; Image generated using Dall-E</figcaption></figure>
When you need to park, whether at a charging station or elsewhere, it&#8217;s beneficial to have entertainment options available.
Luckily, Tesla cars offer a range of features to keep you entertained—provided the car is not in motion — including access to popular streaming services such as Netflix and YouTube.
To access these, navigate to Controls &gt; Entertainment &gt; Theater, and then select your preferred app.
<h3 class="wp-block-heading">6. Free Connectivity</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18103927/Free-connectivity-1024x576.jpg" alt="" class="wp-image-298137" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18103927/Free-connectivity-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18103927/Free-connectivity-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18103927/Free-connectivity-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18103927/Free-connectivity-1536x864.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18103927/Free-connectivity.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">A Tesla car dashboard with connectivity features activated &#x7C; Image generated using Dall-E</figcaption></figure>
Tesla&#8217;s connectivity enhances driving with features like music streaming and live traffic visualization. Basic navigation is included with standard connectivity. For more features such as live traffic visualization, Sentry Mode camera views, satellite maps, video streaming, Caraoke, and internet browsing, subscribe to Premium Connectivity for $9.99/month or $99/year.
Alternatively, you can connect to a Wi-Fi hotspot as well.
<h3 class="wp-block-heading">7. Fart Mode</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18104015/Fart-Mode-1024x576.jpg" alt="" class="wp-image-298139" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18104015/Fart-Mode-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18104015/Fart-Mode-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18104015/Fart-Mode-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18104015/Fart-Mode-1536x864.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18104015/Fart-Mode.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">A humorous scene inside a Tesla where the &#8216;Fart Mode&#8217; &#x7C; Image generated using Dall-E</figcaption></figure>
With Fart Mode, you can have your Tesla produce a variety of fart sounds — an ideal choice for those with a playful sense of humor.
Simply navigate to Application Launcher &gt; Tesla Toy Box &gt; Emissions Testing Mode to access this feature.
Here, you can trigger farts on demand, link them to your turn signals, select custom fart sounds, or activate flatulent noises from a specific seat. It&#8217;s sure to bring on the laughs.
Read Next: <a href="https://www.benzinga.com/news/24/04/38313167/charlie-mungers-investment-wisdom-5-timeless-lessons-from-warren-buffetts-ex-business-partner-for-bu">Charlie Munger&#8217;s Investment Wisdom: 5 Timeless Lessons From Warren Buffett&#8217;s Ex-Business Partner For Building Wealth</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.
Image Via Shutterstock

General

Unlocking Tesla's Hidden Treasures: 7 Lesser-Known Features That Could Revolutionize Your Driving Experience

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.zoetis.com%2F&amp;esheet=53959024&amp;newsitemid=20240428775498&amp;lan=en-US&amp;anchor=Zoetis+Inc.&amp;index=1&amp;md5=7355576a05a0142fe8a70f160d28b627">Zoetis Inc.</a>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>) and&nbsp;<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.pahc.com%2F&amp;esheet=53959024&amp;newsitemid=20240428775498&amp;lan=en-US&amp;anchor=Phibro+Animal+Health+Corporation&amp;index=2&amp;md5=7e2564b21339d41054b865bd66a2d964">Phibro Animal Health Corporation</a>&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAHC#NASDAQ">PAHC</a>) today announced that they have entered into a definitive agreement where Phibro Animal Health will acquire Zoetis&#39; medicated feed additive (MFA) product portfolio, certain water soluble products and related assets for&nbsp;$350 million, subject to customary closing adjustments. This transaction is expected to be complete in the second half of calendar year 2024.
This press release features multimedia. View the full release here:

Asset Sales

PAHC

Zoetis Announced Earlier It Will Sell Its Medicated Feed Additive Portfolio To Phibro Animal Health For $350M

Kansas faces another year without the prospect of legalizing medical marijuana or expanding its Medicaid program, as Republican state senators effectively blocked efforts on Friday to bring these issues to debate before they adjourn on Tuesday.
Despite consistent advocacy and popular support, proponents of both measures fell short of the 24 of 40 votes required to move the bills out of committee, reported the Associated Press.
All but 12 states have legalized <a href="https://www.benzinga.com/topic/medical-cannabis">medical marijuana</a> and all but 10 have expanded Medicaid in line with the Affordable Care Act.
"We&#8217;re behind the times," state Sen. John Doll, a Republican who voted for both measures, said after Friday&#8217;s votes.
For nearly a decade, supporters of medical marijuana have voiced their frustration at the inability to pass this measure. Kansas does not allow for voters to put proposed laws on the ballot, a pathway that has proven successful in other states with the most recent <a href="https://www.benzinga.com/markets/cannabis/23/11/35664155/ohio-legalizes-cannabis-and-overwhelmingly-approves-abortion-rights">being in Ohio</a>. Florida is expected to be the next.
Despite Doll and other legislators' acknowledgment of support, political maneuvering and opposition remain formidable obstacles, particularly within Kansas' Republican-controlled Senate.
<h2 class="wp-block-heading">Frustration Mounts, Advocates Want Equitable Cannabis Laws</h2>
Democratic Gov. Laura Kelly previously attempted <a href="https://www.benzinga.com/markets/cannabis/24/01/36564424/kansas-gov-laura-kelly-on-tax-cuts-medicaid-and-the-lone-midwestern-state-with-no-medical-mariju">to link medical marijuana taxes</a> to fund Medicaid expansion, but her efforts were unsuccessful.
State Sen. Cindy Holscher (D) <a href="https://kansasreflector.com/2024/04/27/kansas-senate-rejects-attempt-to-dislodge-medical-marijuana-bill-stuck-in-a-committee/#:~:text=Sen.%20Cindy%20Holscher%2C%20D%2D,legal%20consumption%20of%20marijuana%20products.">called</a> it frustrating that GOP lawmakers again stood in the way of legislation that would enable Kansas veterans and people with serious health conditions from benefiting from legal marijuana products. 
"Over the past three weeks, scores of Kansans have reached out to their senators voicing support for medical cannabis as they have done for nearly the past decade," Holscher said. "Sadly, supporters have faced many hurdles on this important measure."
<a href="https://www.benzinga.com/markets/cannabis/24/01/36766377/kansas-2024-a-defining-moment-for-medical-marijuana-in-a-holdout-state-is-change-imminent">Cheryl Kumberg</a>, a registered nurse and president of the Kansas Cannabis Coalition, said those who can get cannabis from other states are using it, risking legal issues to address their medical problems.
"It's ridiculous. I can go 45 minutes one way, a couple hours in the other direction, and you can just use it however you want," Kumberg said.
Image created with AI

Cannabis

Government

Regulations

Legal

GOP Lawmakers To Kansans: No Medical Marijuana, No Expanded Medicaid And No More Debate Until Next Year

With the earnings season in full swing, these ten large-cap stocks were the worst performers last week. Are they in your portfolio?
<ol>
<li>LKQ Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LKQ#NASDAQ">LKQ</a>) stock tumbled 12.3% after the company reported a&nbsp;Q1&nbsp;earnings miss&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38382221" rel="noreferrer noopener">and cut its FY24&nbsp;outlook</a>.</li>
<li>MSCI Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSCI#NYSE">MSCI</a>) shares fell 9.8% following its&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38383493" rel="noreferrer noopener">mixed first-quarter results</a>. Several analysts cut their<a target="_blank" href="https://www.benzinga.com//node/38401130" rel="noreferrer noopener">&nbsp;forecasts on the stock</a>.</li>
<li>Textron Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TXT#NYSE">TXT</a>) shares plunged 9.5% after it reported worse-than-expected&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38425093" rel="noreferrer noopener">Q1&nbsp;financial results</a>.</li>
<li>New Oriental Education &amp; Technology Group, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDU#NYSE">EDU</a>) shares dipped 9.4%&nbsp;following <a href="https://www.benzinga.com//node/38405556" target="_blank" rel="noreferrer noopener">a&nbsp;third-quarter&nbsp;EPS miss</a>.</li>
<li>Bristol-Myers Squibb Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) stock was down 9.0% following&nbsp;Q1&nbsp;earnings and a significant 2024&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38437857" rel="noreferrer noopener">adjusted EPS&nbsp;guidance cut</a>.&nbsp;</li>
<li>Manhattan Associates, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MANH#NASDAQ">MANH</a>) stock&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38389487" rel="noreferrer noopener">fell 8.8%</a>.</li>
<li>Reliance, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RS#NYSE">RS</a>) shares dipped 8.6% after it reported worse-than-expected&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38460057" rel="noreferrer noopener">Q1&nbsp;financial results</a>.</li>
<li>Meta Platforms, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) shares fell 8.4% after it provided a&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding?_gl=1&#x2A;xbul0p&#x2A;_ga&#x2A;MTExNTkxODA0Ni4xNzAzNTkwOTkx&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDExNTk3OC44LjEuMTcxNDE1NDEwMS4wLjAuMA.." rel="noreferrer noopener">weaker-than-expected revenue&nbsp;outlook</a>. Several analysts&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38441148" rel="noreferrer noopener">cut the price target</a>.&nbsp;</li>
<li>Southwest Airlines Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) was down 8.3% following&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38435109" rel="noreferrer noopener">worse-than-expected&nbsp;Q1&nbsp;financial results</a>. Some of the analysts&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/LUV/analyst-ratings" rel="noreferrer noopener">cut their price target.</a></li>
<li>Nucor Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) declined 8.2% after reporting worse-than-expected&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38365860" rel="noreferrer noopener">quarterly financial results</a>. Analysts trimmed&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/nue/analyst-ratings" rel="noreferrer noopener">their price target</a>.</li>
</ol>
See Also: <a href="https://www.benzinga.com/news/large-cap/24/04/38479666/lets-spill-the-tea-top-consumer-tech-news-from-last-week-that-you-should-know-april-21-27">Let&#8217;s Spill The Tea: Top Consumer Tech News From Last Week That You Should Know (April 21-27, 2024)</a>
Photo: Shutterstock

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Movers

New Oriental Education & Technology Group

MANH

MSCI

Last Week's Worst-Performing Stocks: Are These 10 Large-Cap Stocks In Your Portfolio? (April 21-27, 2024)

With the earnings season in full swing, these large-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Vertiv Holdings Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>) increased&nbsp;23.3% after it reported better-than-expected first-quarter FY24 results and&nbsp;<a href="https://www.benzinga.com/news/earnings/24/04/38405154/why-data-infrastructure-company-vertivs-shares-are-rocketing-today" target="_blank" rel="noreferrer noopener">raised its 2024 guidance</a>. Several analysts&nbsp;<a href="https://www.benzinga.com/news/earnings/24/04/38431369/vertiv-analysts-raise-their-forecasts-following-strong-earnings" target="_blank" rel="noreferrer noopener">raised their forecasts</a>.</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) surged 19.70% despite reporting weak first-quarter FY24 earnings, with gains in the stock somewhat attributable to CEO Elon Musk&#8216;s <a href="https://www.benzinga.com/news/earnings/24/04/38405212/tesla-stock-is-ripping-higher-wednesday-whats-going-on" target="_blank" rel="noreferrer noopener">conference call</a>. The company disclosed its biggest workforce reduction ever to combat slowing <a href="https://www.benzinga.com/news/24/04/38452751/teslas-biggest-layoffs-mapped-where-has-ev-giant-cut-most-jobs" target="_blank" rel="noreferrer noopener">demand and falling margins</a>. Several analysts revised their <a href="https://www.benzinga.com/quote/TSLA/analyst-ratings" target="_blank" rel="noreferrer noopener">forecasts for the stock</a>.</li>
<li>Teradyne, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TER#NASDAQ">TER</a>) shares were up 17.5% following <a href="https://www.benzinga.com//node/38424671" target="_blank" rel="noreferrer noopener">better-than-expected Q1 earnings</a> and strong Q2 guidance and strong earnings from Microsoft, <a href="https://www.benzinga.com/news/earnings/24/04/38444199/microsoft-q3-earnings-revenue-beat-eps-beat-new-era-of-ai-transformation-and-more?_gl=1&#x2A;1wvnw9t&#x2A;_ga&#x2A;MTExNTkxODA0Ni4xNzAzNTkwOTkx&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDExNTk3OC44LjEuMTcxNDE1MTk2My4wLjAuMA.." target="_blank" rel="noreferrer noopener">which could be lifting AI optimism</a>.</li>
<li>BeiGene, Ltd.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BGNE#NASDAQ">BGNE</a>) stock gained 17.24% after the European Commission approved Tislelizumab for non-small cell lung cancer across three indications,&nbsp;<a href="https://www.benzinga.com//node/38373608" target="_blank" rel="noreferrer noopener">including first- and second-line use</a>.</li>
<li>Tyler Technologies, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TYL#NYSE">TYL</a>) shares surged 13.6% after it reported better-than-expected&nbsp;Q1&nbsp;EPS and sales and provided upbeat&nbsp;guidance&nbsp;for FY24. Analysts boosted&nbsp;<a href="https://www.benzinga.com//node/38458683" target="_blank" rel="noreferrer noopener">their forecasts for the company</a>.</li>
<li>Westinghouse Air Brake Technologies Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAB#NYSE">WAB</a>) was up 13.49% after it reported better-than-expected&nbsp;Q1&nbsp;financial results&nbsp;<a href="https://www.benzinga.com//node/38403160" target="_blank" rel="noreferrer noopener">and raised its 2024&nbsp;guidance</a>. Several analysts&nbsp;<a href="https://www.benzinga.com/quote/wab/analyst-ratings" target="_blank" rel="noreferrer noopener">raised their forecasts</a>.</li>
<li>Newmont Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) rose 13.25% after&nbsp;the company reported&nbsp;<a href="https://www.benzinga.com/news/earnings/24/04/38438315/why-gold-miner-newmont-shares-are-surging-today" target="_blank" rel="noreferrer noopener">first-quarter FY24 results</a>. Revenue of $4.023 billion beat the consensus of $3.67 billion, and adjusted&nbsp;EPS of $0.55&nbsp;<a href="https://www.benzinga.com/news/large-cap/24/04/38441405/gold-glitters-on-stagflation-tailwinds-newmont-soars-13-in-biggest-gain-post-covid-leads-mining-se" target="_blank" rel="noreferrer noopener">beat the consensus of $0.36</a>.&nbsp;</li>
<li>Carrier Global Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>) shares grew by 11.85%, rebounding from earlier&nbsp;<a href="https://www.benzinga.com//node/38438880" target="_blank" rel="noreferrer noopener">weakness following&nbsp;Q1&nbsp;earnings</a>.</li>
<li>First Citizens BancShares, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>) stock jumped 11.24% following better-than-expected <a href="https://www.benzinga.com//node/38425172" target="_blank" rel="noreferrer noopener">Q1 adjusted EPS results</a>.</li>
<li>Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>) stock surged 10.2% in reaction to <a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding" target="_blank" rel="noreferrer noopener">Meta&#8217;s</a><a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding" target="_blank" rel="noreferrer noopener"> increased capex guidance</a>, in possible anticipation of <a href="https://www.benzinga.com//node/38444720" target="_blank" rel="noreferrer noopener">Intel&#8217;s</a><a href="https://www.benzinga.com//node/38444720" target="_blank" rel="noreferrer noopener"> earnings report</a> and following <a href="https://www.benzinga.com//node/38390554" target="_blank" rel="noreferrer noopener">strong earnings from </a><a href="https://www.benzinga.com//node/38390554" target="_blank" rel="noreferrer noopener">Texas Instruments</a>.</li>
<li>Microchip Technology Incorporated&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>) was up 10.4%.</li>
<li>Deutsche Bank AG&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DB#NYSE">DB</a>) stock increased 10.3%.</li>
<li>Grupo Aeroportuario Del Sureste, S.A. De C.V.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASR#NYSE">ASR</a>) shares were up 10.3%.</li>
<li>Antero Resources Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AR#NYSE">AR</a>) stock&nbsp;saw an increase of&nbsp;9.9%.</li>
<li>Monolithic Power Systems, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MPWR#NASDAQ">MPWR</a>) gained 9.9%.</li>
</ol>
See Also: <a href="https://www.benzinga.com/news/earnings/24/04/38349264/tracking-last-weeks-top-performers-are-these-7-large-cap-stocks-in-your-portfolio">Tracking Last Week&#8217;s Top Performers: Are These 7 Large-Cap Stocks In Your Portfolio? (April 13-20)</a>
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