 (OTC:EQLCF) Stock, Quote.Headers.trade-ideas

Wells Fargo &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) CEO Charles Scharf expressed optimism about President-elect Donald Trump&#8216;s return to The White House, citing expectations of business-friendly policies, during the bank&#8217;s <a href="https://www.benzinga.com/news/earnings/earnings-beats/25/01/43035156/wells-fargos-q4-results-impress-analysts-weigh-in-on-growth-expense-outlook">fourth-quarter earnings call</a> on Wednesday.
What Happened: &#8220;The U.S. economy has performed very well and remains strong,&#8221; Scharf said, noting that lower inflation and unemployment position the economy favorably for 2025. 
&#8220;We succeed when the country succeeds, so the incoming administration&#8217;s support of U.S. businesses and consumers gives us optimism as we look forward,&#8221; Scharf said.
He emphasized that a more business-friendly approach to policies and regulations under the Trump administration &#8220;should benefit the economy and our clients.&#8221;
The comments came as Wells Fargo <a href="https://www.benzinga.com/news/earnings/earnings-beats/25/01/43035156/wells-fargos-q4-results-impress-analysts-weigh-in-on-growth-expense-outlook">reported fourth-quarter earnings</a> per share of $1.43, surpassing consensus estimates of $1.36, though core earnings missed expectations when excluding one-time items. The bank notably achieved 4% sequential growth in non-interest-bearing deposits, which helped fund modest loan growth and reduce borrowings.
See Also: <a href="https://www.benzinga.com/markets/equities/25/01/43048211/qorvo-soars-7-after-hours-as-activist-investor-starboard-reportedly-takes-stake-in-semiconductor-company">Qorvo Soars 7% After Hours As Activist Investor Starboard Reportedly Takes Stake In Semiconductor Company</a>
Why It Matters: Looking ahead, Wells Fargo projected net interest income growth of 1-3% for 2025, surprising analysts positively. The bank expects absolute growth in consumer deposits and anticipates loan growth to accelerate by mid-2025, assuming up to two Federal Reserve interest rate cuts.
Keefe, Bruyette &amp; Woods analyst David Konrad raised his price target from $81 to $86, noting the bank is &#8220;transitioning from cutting costs to revenue growth.&#8221; Goldman Sachs maintained its Buy rating while increasing its target to $83, focusing on the bank&#8217;s projected expense reduction to $54.2 billion for 2025.
The results contributed to a broader rally in banking stocks, with the Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) gaining 2.6% on Wednesday, marking the sector&#8217;s <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43031980/big-banks-continue-to-beat-q4-earnings-financial-etf-takes-breather">strongest single-day performance</a> since November. 
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</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

News

Markets

Trump Administration's Pro-Business Promises Boost 'Optimism' For Wells Fargo: Here's What CEO Charles Scharf Said

With U.S. stock futures trading higher this morning on Friday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Fastenal Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FAST#NASDAQ">FAST</a>) to report quarterly earnings at 48 cents per share on revenue of $1.84 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Fastenal shares gained 0.5% to $75.15 in after-hours trading.</li>
<li>J.B. Hunt Transport Services, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBHT#NASDAQ">JBHT</a>) reported weaker-than-expected earnings for its fourth quarter on Thursday. J.B. Hunt Transport shares dipped 11.1% to $165.50 in the after-hours trading session.</li>
<li>Analysts are expecting State Street Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>) to post quarterly earnings at $2.43 per share on revenue of $3.32 billion. The company will release earnings before the markets open. State Street shares gained 0.1% to $100.50 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Activist investor Starboard Value LP has reportedly acquired a 7.7% stake worth approximately $500 million in Qorvo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>) on Thursday, targeting the struggling semiconductor manufacturer for potential operational changes. Qorvo shares climbed 7.1% to $78.84 in the after-hours trading session.</li>
<li>Analysts expect Schlumberger Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) to post quarterly earnings at 90 cents per share on revenue of $9.18 billion before the opening bell. SLB shares gained 0.2% to $41.18 in after-hours trading.</li>
</ul>
Check This Out: 
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<li><a href="https://www.benzinga.com/25/01/43025282/wall-streets-most-accurate-analysts-views-on-3-energy-stocks-with-over-7-dividend-yields">Wall Street&#8217;s Most Accurate Analysts&#8217; Views On 3 Energy Stocks With Over 7% Dividend Yields</a></li>
</ul>
Photo courtesy: Shutterstock

Earnings

Pre-Market Outlook

Trading Ideas

FAST

JBHT

QRVO

SLB, J.B. Hunt Transport And 3 Stocks To Watch Heading Into Friday

<h3>Companies Reporting Before The Bell</h3>
• Schlumberger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) is likely to report quarterly earnings at $0.90 per share on revenue of $9.18 billion. 
• Regions Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RF#NYSE">RF</a>) is likely to report quarterly earnings at $0.55 per share on revenue of $1.86 billion. 
• Sify Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIFY#NASDAQ">SIFY</a>) is expected to report quarterly earnings at $0.00 per share on revenue of $152.30 million. 
• Wipro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WIT#NYSE">WIT</a>) is likely to report quarterly earnings at $0.04 per share on revenue of $2.67 billion. 
• Webster Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WBS#NYSE">WBS</a>) is expected to report quarterly earnings at $1.36 per share on revenue of $611.93 million. 
• Huntington Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBAN#NASDAQ">HBAN</a>) is likely to report quarterly earnings at $0.31 per share on revenue of $1.88 billion. 
• State Street (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>) is estimated to report quarterly earnings at $2.29 per share on revenue of $3.26 billion. 
• Citizens Financial Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>) is estimated to report quarterly earnings at $0.83 per share on revenue of $1.96 billion. 
• Truist Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>) is expected to report quarterly earnings at $0.88 per share on revenue of $5.05 billion. 
• Fastenal (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FAST#NASDAQ">FAST</a>) is projected to report quarterly earnings at $0.48 per share on revenue of $1.84 billion. 
<h3>Companies Reporting After The Bell</h3>
• BOK Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BOKF#NASDAQ">BOKF</a>) is projected to report quarterly earnings at $2.00 per share on revenue of $517.46 million. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

BOKF

HBAN

SIFY

Earnings Scheduled For January 17, 2025

The CNN Money Fear and Greed index showed a decline in overall market sentiment, while the index remained in the &#8220;Fear&#8221; zone on Thursday.
U.S. stocks settled lower on Thursday, with the S&amp;P 500 ending a three-session winning streak.
Big tech shares recorded losses during the session, with Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) falling 4% and NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) down around 2%.
Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) topped earnings expectations, while Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) also surpassed bottom-line projections.
On the economic data front, U.S. retail sales rose 0.4% month-over-month in December versus a revised 0.8% increase in the previous month and down from market estimates of 0.6%. U.S. initial jobless claims increased by 14,000 from the previous week to 217,000 in the week ending January 11, compared to market estimates of 210,000.
Most sectors on the S&amp;P 500 closed on a positive note, with utilities, real estate, and industrials stocks recording gains on Thursday. However, information technology and communication services stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed lower by around 68 points to 43,153.13 on Thursday. The S&amp;P 500 fell 0.21% to 5,937.34, while the Nasdaq Composite dipped 0.89% to 19,338.29 during Thursday's session.
Investors are awaiting earnings results from Fastenal Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FAST#NASDAQ">FAST</a>), State Street Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>, )) and Schlumberger Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 28.4, the index remained in the &#8220;Fear&#8221; zone on Thursday, versus a prior reading of 31.1.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
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</ul>
Photo courtesy: Shutterstock

AAPL

NVDA

S&P 500 Ends Three-Session Win Streak Amid Decline In Apple, Nvidia: Greed Index Remains In 'Fear' Zone

The widely-used social media platform, TikTok, owned by China&#8217;s ByteDance, is teetering on the edge of a ban in the United States. The ban can only be averted if a last-minute deal is reached with a U.S. investor or if the Supreme Court intervenes.
What Happened: In anticipation of the ban, TikTok plans to cease operations in the U.S., although users can still download their personal data. App stores managed by Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) will remove TikTok, preventing updates and disrupting the app&#8217;s new video content. 
Additionally, Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) might stop hosting TikTok data.
Users have been exploring potential workarounds, such as using virtual private networks (VPNs) to conceal their location. According to Google Trends data, searches for &#8220;VPN for TikTok&#8221; have risen by almost 800% in the past week. 
However, TikTok has other ways to determine user locations, including accessing geolocation data from devices, according to Jason Kelley, director of activism at the Electronic Frontier Foundation, Reuters reported.
Some users have considered using a web-based version of TikTok through a browser with a VPN. However, the web version lacks many app features and may fail to deliver a personalized experience, especially if creating a new account is required. &#8220;It won&#8217;t be a good service for you, and it won&#8217;t be a profitable service for them,&#8221; Kelley said.
Experts have suggested using a VPN or changing phone settings to another country such as Canada as possible solutions, but these methods are not straightforward. Kelley pointed out that TikTok can still identify user locations. 
Joseph Lorenzo Hall of the Internet Society humorously mentioned that influencers might need two phones due to the ban.
Why It Matters: The impending TikTok ban has significant implications for its 170 million U.S. users. The Biden administration has decided not to <a href="https://www.benzinga.com/general/social-media/25/01/43047973/tiktok-ban-decision-left-to-trump-by-biden-administration-what-this-means-for-170-million-us-users-and-big-tech">enforce the ban</a>, leaving the decision to the incoming Donald Trump administration. This decision could impact the app&#8217;s future operations in the U.S. and its users.
Meanwhile,&nbsp;Jimmy Donaldson, known as MrBeast, is in discussions with several billionaires about<a href="https://www.benzinga.com/general/social-media/25/01/42994923/mrbeast-discussing-buying-tiktok-with-billionaires-to-prevent-us-shutdown-lets-see-if-we-can-pull-this-off"> potentially acquiring TikTok </a>to prevent its shutdown. This move highlights the app&#8217;s popularity and the lengths to which individuals are willing to go to keep it operational in the U.S.
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<li><a href="https://www.benzinga.com/government/regulations/25/01/43041207/5-things-investors-need-to-know-about-scott-bessents-economic-policies-as-he-faces-senate-grilling-for-treasury-job">5 Things Investors Need To Know About Scott Bessent&#8217;s Economic Policies As He Faces Senate Grilling For Treasury Job</a></li>
</ul>
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

Government

Social Media

Tech

General

GOOG

GOOGL

ORCL

As TikTok Faces US Ban, VPN Searches Skyrocket 800%: Will Workarounds Work? Experts Weigh In

D.R. Horton, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) will release its first-quarter financial results, before the o<a href="https://www.benzinga.com/quote/dhi/earnings">pening bell, on Tuesday, Jan. 21, 2025</a>.
Analysts expect the Arlington, Texas-based company to report quarterly earnings at $2.38 per share, down from $2.82 per share in the year-ago period. D.R. Horton projects quarterly revenue of $7.08 billion, compared to $7.73 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Oct. 29, D.R. Horton reported worse-than-expected fourth-quarter EPS and sales results.
D.R. Horton shares gained 0.8% to close at $146.60 on Thursday&nbsp;&nbsp;&nbsp; .
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/DHI/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Barclays analyst Matthew Bouley maintained an Equal-Weight rating and cut the price target from $170 to $150 on Jan. 16, 2025. This analyst has an accuracy rate of 73%.</li>
<li>UBS analyst John Lovallo maintained a Buy rating and cut the price target from $214 to $203 on Jan. 8, 2025. This analyst has an accuracy rate of 72%.</li>
<li>Citigroup analyst Anthony Pettinari maintained a Neutral rating and slashed the price target from $185 to $152 on Jan. 6, 2025. This analyst has an accuracy rate of 78%.</li>
<li>JP Morgan analyst Michael Rehaut downgraded the stock from Neutral to Underweight and cut the price target from $188 to $156 on Dec. 13, 2024. This analyst has an accuracy rate of 72%.</li>
<li>Raymond James analyst Buck Horne downgraded the stock from Outperform to Market Perform on Nov. 7, 2024. This analyst has an accuracy rate of 71%.</li>
</ul>
Considering buying DHI stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="568" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/17031522/image-113-1024x568.png" alt="" class="wp-image-738354" style="width:593px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/17031522/image-113-1024x568.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/17031522/image-113-300x166.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/17031522/image-113-768x426.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/17031522/image-113.png 1120w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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</ul>

Price Target

Analyst Ratings

D.R. Horton Gears Up For Q1 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

EV giant Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) said on Thursday that it is working on a &#8220;comprehensive cleaning solution&#8221; for its Cybertruck rear camera after drivers flagged the need for an automated solution.
What Happened: Tesla uses cameras on the vehicle body to gauge the surroundings and implement certain driver assistance features. The vehicle has one camera mounted on the tailgate, one on each door pillar, two on the windshield above the rearview mirror, one above each front wheel, and one above the grille on the front bumper. 
&#8220;On a more serious note, a more comprehensive cleaning solution is being worked on,&#8221; Tesla said in a post on social media platform X on Thursday in response to a driver who enquired if the company has a plan for cleaning the rear camera without driver intervention once autonomous driving is achieved. 
<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">On a more serious note, a more comprehensive cleaning solution is being worked on
&mdash; Tesla AI (@Tesla_AI) <a href="https://twitter.com/Tesla_AI/status/1879888738035314940?ref_src=twsrc%5Etfw">January 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: To ensure a clear image from its many cameras, the lens must be clean and free of condensation, obstruction, or damage, Tesla says. Vehicle owners need to clean the rear camera lens by spraying water and drying it with a microfiber cloth. Only the front-facing camera is equipped with a <a href="https://www.benzinga.com/news/23/12/36372955/teslas-self-cleaning-front-cam-on-cybertruck-sparks-comparison-with-fords-2017-explorer">sprayer nozzle. </a>
Tesla is looking to enable autonomous driving with future versions of its full self-driving (FSD) driver assistance technology. While FSD now requires active driver supervision, the company and its billionaire CEO Elon Musk are optimistic that it will enable vehicle autonomy in due time.
Tesla utilizes multiple cameras on the vehicle body to deploy its driver assistance features. If the vision from a camera is obstructed, the vehicle will flash warnings and some of the features might be restricted, it says. 
In October, the U.S. auto safety regulator National Highway Traffic Safety Administration (NHTSA)&nbsp;opened an investigation into<a href="https://www.benzinga.com/news/24/10/41398764/nhtsa-opens-probe-into-2-4m-tesla-vehicles-after-reports-of-4-crashes-with-fsd-involved" target="_blank" rel="noreferrer noopener">&nbsp;2.4 million Tesla vehicles</a>&nbsp;following reports of four crashes where its FSD partial driving automation system was engaged.
The regulator then said that it had identified four crash reports in which a Tesla experienced a crash after entering an area of &#8220;reduced roadway visibility&#8221; with FSD engaged.&nbsp;The reduced visibility, the regulator said, was caused by sun glare, fog, or airborne dust.
In one of the crashes, the vehicle struck and killed a pedestrian, the regulator added.
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>
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<li><a href="https://www.benzinga.com/general/space/25/01/43023657/jeff-bezos-blue-origins-new-glenn-reaches-orbit-on-first-try-spacex-ceo-elon-musk-applauds-rivals-achievement">Jeff Bezos&#8217; Blue Origin&#8217;s New Glenn Reaches Orbit On First Try: SpaceX CEO Elon Musk Applauds Rival&#8217;s Achievement</a></li>
</ul>
Photo courtesy: Tesla

TSLA

Tesla Says It Is Working On A 'More Comprehensive Cleaning Solution' For Cybertruck Rear View Camera

A bull market has lasted for 7.9 years on average over the last <a href="https://www.benzinga.com/24/12/42430296/carson-researchs-50-year-study-suggests-that-the-26-months-old-bull-market-is-far-from-over">50 years</a>, according to data highlighted by Carson Research in their investment research's outlook for 2025.
What Happened: Carson Research&#8217;s report analyzing bull markets over the past 50 years shows that the 1987 and 2002 bull markets spanned five years each, while the 1974 bull market extended for 6.2 years.
Notably, the 2009 bull market lasted for 11 years, the longest in recent times. Additionally, the 1988 bull market held a record at 12.3 years.
On average, these five bull markets over the last 50 years were 7.9 years long.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Bull Markets Over The Last 50 Years</td>
<td>Total Duration (In Years)</td>
</tr>
<tr>
<td>August 1982-1987</td>
<td>5</td>
</tr>
<tr>
<td>October 2002-2007 </td>
<td>5</td>
</tr>
<tr>
<td>September 1974 to November 1980</td>
<td>6.2</td>
</tr>
<tr>
<td>February 2009-2020</td>
<td>11</td>
</tr>
<tr>
<td>January 1988 to March 2000</td>
<td>12.3</td>
</tr>
<tr>
<td>Average</td>
<td>7.9</td>
</tr>
</tbody>
</table>
</figure>
&#8220;Looking at the previous 11 bull markets, we found the average bull lasted more than five years, suggesting even though this bull market is mighty, it could have plenty of room left to run,&#8221; the note stated.
See Also: <a href="https://www.benzinga.com/25/01/43027048/blackrock-generates-industry-leading-etf-inflows-of-390-billion-in-2024-here-are-five-ishares-etfs-that-investors-should-look-out-for">Bond Rally Drives Stock Market, Taiwan Semi Results Show AI Demand, Manipulators Having A Heyday With Quantum Computing</a>
Why It Matters: However, despite highlighting these statistics, the note added, &#8220;Bullishness is more pervasive now and we could see more volatility in 2025.&#8221;
According to Carson Research, two red flags for the stock market arise historically, the first is that 2025 is the third year of a bull market, and the second is that the valuations are stretched.
An analysis of the eight bull markets since 1950 that reached their third year revealed an average gain of only 2.1%.
On a concluding note the &#8216;Animal Spirits&#8217; report added, &#8220;While we remain overweight equities, we are looking to potentially add excess returns by investing in factors like low volatility and momentum within equities, and actively managed strategies on the fixed income side.&#8221;
Price Action: The exchange-traded fund tracking the S&amp;P 500 index, SPY, advanced 25.27% over a year, whereas, QQQ, tracking the Nasdaq 100 rose 26% in the same period. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index/ETF</td>
<td>Six Months</td>
<td>One Year</td>
</tr>
<tr>
<td>SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)</td>
<td>6.23%</td>
<td>25.27%</td>
</tr>
<tr>
<td>Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)</td>
<td>6.50%</td>
<td>26.00%</td>
</tr>
<tr>
<td>SPDR Dow Jones Industrial Average ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)</td>
<td>4.77%</td>
<td>15.79%</td>
</tr>
<tr>
<td>iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>)</td>
<td>1.01%</td>
<td>18.48%</td>
</tr>
</tbody>
</table>
</figure>
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A SpaceX Starship test flight on Thursday forced dozens of commercial flights to divert after the Federal Aviation Administration warned of falling debris, highlighting growing tensions between commercial aviation and the expanding space industry.
What Happened: The incident occurred when SpaceX&#8217;s Starship spacecraft experienced what the company termed a &#8220;rapid unscheduled disassembly&#8221; <a href="https://www.benzinga.com/25/01/43046722/starship-explodes-during-flight-test-elon-musk-says-success-is-uncertain-but-entertainment-is-guaranteed">during its seventh test flight</a> from Boca Chica, Texas. The event triggered air traffic disruptions primarily affecting routes near Florida and the Caribbean.
American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) reported fewer than 10 flight diversions, while a JetBlue Airways Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) flight from Fort Lauderdale to San Juan was forced to return to its origin. FedEx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) cargo operations also faced route adjustments, <a href="https://www.cnbc.com/2025/01/16/dozens-of-flights-diverted-delayed-after-faa-warned-of-spacex-rocket-debris-.html?ref=biztoc.com">reported</a> CNBC, citing data from FlightAware.
&#8220;We briefly slowed and diverted aircraft around the area where space vehicle debris was falling,&#8221; an FAA spokesperson said, confirming no injuries or property damage were reported.
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Why It Matters: The test flight, which launched at 5:37 p.m. ET, <a href="https://www.benzinga.com/25/01/43046722/starship-explodes-during-flight-test-elon-musk-says-success-is-uncertain-but-entertainment-is-guaranteed">initially showed promise</a> as the Super Heavy booster, powered by 33 Raptor engines generating 16 million pounds of thrust, successfully separated. However, telemetry froze at 8 minutes and 27 seconds into the flight.
SpaceX CEO Elon Musk maintained an optimistic stance, posting on X: &#8220;Success is uncertain, but entertainment is guaranteed!&#8221; The flight was particularly significant as it tested various heat shield improvements, including metallic tiles and active cooling systems, crucial for SpaceX&#8217;s ambitious plans for Mars missions.
<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">Success is uncertain, but entertainment is guaranteed! &#x2728; <a href="https://t.co/nn3PiP8XwG">pic.twitter.com/nn3PiP8XwG</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1880040599761596689?ref_src=twsrc%5Etfw">January 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

SPACE

JBLU

SpaceX Starship Mishap Diverts Dozens Of Flights As FAA Warns Of Falling Debris

ARBK

Argo Blockchain Notified Of Non-Compliance With Nasdaq's $1 Minimum Bid Price Rule

Macro Economic Events

Econ #s

Economics

U.K. Retail Sales (MoM) For December -0.3% Vs. 0.4% Est.; 0.1% (Revised) Prior

U.K. Retail Sales (YoY) For December 3.6% Vs. 4.2% Est.; 0.0% (Revised) Prior

U.K. Core Retail Sales (MoM) For December -0.6% Vs. 0.1% Est.; 0.1% (Revised) Prior

U.K. Core Retail Sales (YoY) For December 2.9% Vs. 3.6% Est.; -0.5% (Revised) Prior

The operating partnership intends to use the net proceeds from this offering to repay amounts outstanding from time to time under its lines of credit and its commercial paper program, and for other general corporate and working capital purposes, including funding potential acquisition opportunities.

Reported Earlier, Extra Space Prices $350M Add-On Offering Of 5.500% Senior Notes Due 2030

<ul>
<li>Q4 Revenue and EBITDA Negatively Impacted by Customer-Driven Project Delays</li>
<li>Tremendous Q4 Bookings at Over $210 million Establishes New Record and Highest-Ever Backlog</li>
<li>Completed Acquisition of Verantis in Late Q4 and Announces Intention to Divest Fluid Handling Business</li>
<li>2025 Full Year Outlook Affirmed</li>
</ul>

CECO

Reported Earlier, CECO Environmental Reports Preliminary 2024 Revenue of $555M–$558M ($577.326M Est.) Down From $575M-$600M And Record $210M Q4 Bookings

IPOs

HVII

Reported Earlier, Hennessy Capital Investment Corp. VII Prices $175M Initial Public Offering Of 17.5M Units At $10/Unit

"Limertinib has demonstrated significant efficacy and safety in NSCLC patients with EGFR T790M mutation and EGFR-sensitive mutations. Patients treated with limertinib showed a reduced risk of CNS progression or death. This approval brings new hope and options to patients with advanced EGFR-mutated NSCLC in China," said Professor Shi Yuankai, MD, Department of Medical Oncology at Chinese Academy of Medical Sciences and Principal Investigator of the Phase 2b and Phase 3 clinical studies.

IVBIY

Reported Earlier, Innovent And ASK Pharm Announce NMPA Approval Of Limertinib For Advanced EGFR T790M-Mutated Lung Cancer

The distribution of shares of Twin Common Stock will be made on a pro rata basis to all&nbsp;holders of FAT Brands' Class A Common Stock and Class B Common Stock as of&nbsp;the close of trading on&nbsp;January 27, 2025 (the "record date"). The distribution will take the form of a special dividend of 0.1520207 share of Twin Common Stock distributed with respect to each one share of FAT Brands Class A Common Stock and Class B Common Stock outstanding as of the record date. The shares of Twin Common Stock are expected to be delivered after the close of trading on January 29, 2025 (the&nbsp;"distribution date"), subject to the satisfaction or waiver of certain conditions, and commence trading on the Nasdaq Global Market under the symbol "TWNP" on the next trading day.&nbsp;

Reported Earlier, FAT Brands Announces January 27, 2025, Record Date For Special Stock Dividend Ahead Of Twin Hospitality Spin-Off

&nbsp;i-80 GOLD CORP announces that, in connection with its previously announced prospectus offering of common shares of the Company (the "Shares") for aggregate gross proceeds of US$10,000,000 (the "Offering"), it has set the pricing of the Shares to be offered at C$0.80 (the "Offering Price").
 &nbsp;

IAUX

Reported Earlier, i-80 Gold Sets Pricing At C$0.80/Share For $10M Prospectus Offering

Invesco Canada Ltd. goes ex dividend tomorrow

EQLCF

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