Entourage Health Stock (OTC:ETRGF), Trade Ideas

Entourage Health Corp is a licence holder producing and distributing cannabis products for both the medical and adult-use markets. It owns and operates greenhouse, outdoor, and processing facility located in Strathroy as well as a fully licensed Aylmer processing facility, specializing in cannabis extraction. With the addition of Starseed Medicinal, a medical-centric brand, it has expanded its multi-channeled distribution. The company operates in one segment, the production and sale of cannabis in Canada.

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Canadian cannabis producer and distributor Entourage Health Corp., announced on Tuesday its financial results for the fiscal year that ended Dec. 31, 2023. The Toronto-based company reported a total net revenue of CA$40.7 million ($29.8 million) in 2023, slightly down from CA$40.9 million in 2022. However, gross profit before fair value changes reached CA$2.4 million in the same period, representing a 126% year-over-year increase. &#34;In 2023, Entourage made significant strides, advancing production and diversifying our market presence with innovative products,&#34; George Scorsis, CEO and executive chair, said. &#34;Dime Bag&#39;s success is a prime example—quickly rising to become one of Ontario&#39;s fastest-growing pre-roll brands and maintaining its market leadership for two consecutive quarters. Driven by surging demand for our products and the effectiveness of our enhanced business model, we&#39;re achieving growth while improving cost efficiency, firmly establishing ourselves in a favorable financial position.&#34;

Cannabis Co. Entourage Health Reports 126% YoY Increase In 2023 Gross Profit, Cuts Losses Significantly

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Nevada Gov. Joe Lombardo revealed last week that James Humm agreed to lead the state&#39;s agency that regulates the burgeoning cannabis market. Tyler Klimas, who currently holds the position of executive director of the Cannabis Compliance Board, told Gov. Lombardo in September he&#39;ll be stepping down, reported to Nevada Current.
The Independent Retail Cannabis Collective (IRCC) has tapped Mandesh Dosanjh to serve as its new executive board chair. 
Acreage Holdings, Inc. announced on Friday that Philip Himmelstein, vice president of financial planning and analysis at Acreage, will be assuming the role of interim chief financial officer. 
Entourage Health Corp.&#39;s Vincent Doré opted to resign as the company&#39;s chief legal officer and corporate secretary.

Nevada&#39;s Marijuana Regulator Gets A Dynamic New Leader And Other Leadership Changes In Cannabis

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Entourage Health Corp. (TSX-V: ENTG) (OTCQX: ETRGF) (FSE:4WE), a Canadian cannabis company, reported Tuesday its financial results for the third quarter, revealing revenue of CA$12.2 million ($8.97 million), down by 8.8% from CA$13.4 million in the same quarter last year.

Canadian Cannabis Co. Entourage Health Q3 Revenue Slides 8.8% YoY - But Margins Sore, Losses Decline

ENTOURAGE HEALTH CORP by ENTOURAGE HEALTH CORP.

Entourage Health Corp

Inventiva (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IVA#NASDAQ">IVA</a>), a clinical-stage biopharmaceutical company focused on the development of oral small molecule therapies for the treatment of metabolic dysfunction-associated steatohepatitis (&quot;MASH&quot;), also known as non-alcoholic steatohepatitis (&quot;NASH&quot;), and other diseases with significant unmet medical needs, today announced the&nbsp;<a href="https://www.globenewswire.com/Tracker?data=sgIt23JeUFmREhgwFHBZmypthDrQ5cJg-bMqn0RlAirO9MXICTaMvigpHmDksNke4DP-fgRfgLQzZ1TFGUzY_UbPX2oIB11X22bezZE6H7ggS4GxL2FxIi5djhmWbA2Y" target="_blank">publication</a>&nbsp;in the peer-reviewed scientific journal&nbsp;Nature Communications&nbsp;of additional results from its NATIVE Phase IIb clinical trial demonstrating the improvement of markers of cardiometabolic health in patients with MASH/NASH treated with lanifibranor.
In the NATIVE Phase IIb clinical trial which demonstrated improvement on liver histology following a 24-week period with lanifibranor 800mg and 1200mg daily, including NASH resolution and fibrosis improvement, a broad panel of markers of cardiometabolic health were also measured. Following lanifibranor treatment, the trial demonstrated significant improvement in patients with MASH/NASH with and without Type 2 Diabetes and with or without obesity of markers of insulin resistance (fasting insulin level, HOMA-IR), glycemic control (fasting glucose, HbA1c), lipid metabolism (triglycerides, HDL-C, APO-B, APO-B/APO-A1), adiponectin, systemic inflammation (hs-CRP, ferritin), diastolic blood pressure and hepatic steatosis (histological grading and ultrasound-based (Fibroscan CAPTM)) (see table below).

Inventiva Announces the Publication in Nature Communications of Additional Results from NATIVE Phase IIb Clinical Trial Demonstrating Improvement of Markers of Cardiometabolic Health in Patients with MASH/NASH Treated with Lanifibranor

ISC&mdash;Driving a fundamental shift in the high-performance computing industry toward AI-powered systems, NVIDIA today announced nine new supercomputers worldwide are using&nbsp;NVIDIA Grace Hopper&trade; Superchips&nbsp;to speed scientific research and discovery. Combined, the systems deliver 200 exaflops, or 200 quintillion calculations per second, of energy-efficient AI processing power

NVDA

NVIDIA Launches Nine Grace Hopper-Powered Supercomputers Globally, Advancing Scientific Research

EV giant Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has reportedly received approval from the Office of the Management Committee of Lingang New Area, China (Shanghai) Pilot Free Trade Zone, for its new <a href="https://www.benzinga.com/news/24/04/38064935/teslas-hidden-powerhouse-ev-giant-tries-to-shift-investor-focus-to-energy-business-amid-auto-slowdow">megafactory project.</a>
What Happened: The project is located in Nanhui New Town, Pudong New Area, and will cover over 204,000 square meters, local media platform Pandaily <a href="https://pandaily.com/teslas-shanghai-megafactory-energy-storage-construction-plan-approved/">reported </a>on Thursday. Tesla currently has only one megafactory, located in Lathrop, California. 
A Megapack is a powerful stationary battery that stabilizes the grid. Each unit can store over 3.9 MWh of energy or enough to power an average of 3600 homes for one hour, according to Tesla.
Deliveries from the new factory will reportedly start by the first quarter of 2025. Tesla first announced plans to manufacture 10,000 Megapacks in a year in China, equalling about 40 gigawatts of energy storage, in April 2023. 
Why It Matters: Last month, Tesla CEO&nbsp;Elon Musk&nbsp;said that the demand for its<a href="https://www.benzinga.com/news/24/04/38064935/teslas-hidden-powerhouse-ev-giant-tries-to-shift-investor-focus-to-energy-business-amid-auto-slowdow" target="_blank" rel="noreferrer noopener">&nbsp;stationary energy storage products&nbsp;</a>is &#8220;super high&#8221; and hinted that the company might make more batteries for energy storage than cars in the long term.
In the first quarter of 2024, Tesla deployed 4,053 MWh of energy storage products, representing its highest quarterly deployment to date and a year-on-year increase of 4.2%.&nbsp;
In January, the company&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/01/36771860/teslas-energy-segment-faces-q4-dip-as-automotive-grew-but-elon-musk-led-company-expects-trend-revers" rel="noreferrer noopener">expressed expectations&nbsp;</a>for the growth rate of deployment and revenue in the energy storage business in 2024 to surpass that of the automotive sector.
Tesla acknowledged that deployments may be subject to volatility and impacted by logistics and global product distribution. Nevertheless, it remains optimistic about continued growth on a 12-month basis.
The EV giant already operates a 4.5-million-square-foot facility in China, <a href="https://www.benzinga.com/markets/equities/24/04/38355310/if-you-had-invested-1000-in-tesla-stock-when-ev-giant-entered-china-exactly-10-years-ago-heres-h" target="_blank" rel="noreferrer noopener">Giga Shanghai</a>, which produces the popular Model 3 and Model Y SUVs and rolled out its 2-millionth vehicle in September last year.
The move also comes amid&nbsp;<a target="_blank" href="https://www.benzinga.com/news/large-cap/24/05/38733432/tesla-cuts-more-jobs-in-china-as-competition-heats-up" rel="noreferrer noopener">Tesla&#8217;s&nbsp;largest&nbsp;layoffs</a>,&nbsp;which has also significantly affected&nbsp;its Chinese workforce.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More: <a href="https://www.benzinga.com/news/24/05/38776258/tesla-ceo-elon-musk-draws-parallel-between-netflixs-decision-to-focus-on-streaming-over-renting-dvds">Tesla CEO Elon Musk Draws Parallel Between Netflix&#8217;s Decision To Focus On Streaming Over Renting DVDs To EV Maker Doubling Down On Vehicle Autonomy</a>
Photo courtesy: Tesla

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China Greenlights Another Big Tesla Factory, This Time For Megapack Project

Ecolab and HeiQ Chrisal have teamed up to launch the revolutionary Maxx Synbiotic cleaning range at Interclean in&nbsp;Amsterdam, The Netherlands.&nbsp;
Ecolab, a global sustainability leader offering water, hygiene, and infection prevention solutions and services, and HeiQ Chrisal, a leading biotech innovator, are proudly collaborating to introduce advanced synbiotic cleaning products to the European cleaning industry. At Interclean in&nbsp;Amsterdam,&nbsp;May 14-17, the Maxx Synbiotic range will be introduced to the professional cleaning industry throughout&nbsp;Europe.
Harnessing the power of pre- and probiotics, the 50 billion probiotics per liter of Maxx Synbiotic deliver immediate, continuous, and microscopic-level cleaning, highly efficient odor reduction, long-lasting efficacy, and support for a well-balanced microbiome on surfaces. HeiQ&#39;s synbiotic cleaning technology was validated in several scientific studies, e.g. the landmark study published in&nbsp;May 2023&nbsp;in The Lancet by renowned Charit&eacute; University Hospital Berlin.

Ecolab and HeiQ Launched Synbiotic Cleaning Products at Interclean in Amsterdam, The Netherlands

International Supercomputing Conference (ISC) -- Supermicro, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>),&nbsp;a Total IT Solution Provider for AI, Cloud, Storage, and 5G/Edge, is addressing the most demanding requirements from customers who want to expand their AI and HPC capacities while reducing data center power requirements. Supermicro delivers complete liquid-cooled solutions, including cold plates, CDUs, CDMs, and entire cooling towers. A significant reduction in the PUE of a data center is quickly realized with data center liquid-cooled servers and infrastructure, and this can reduce overall power consumption in the data center by up to&nbsp;40%.

SMCI

Supermicro's Rack Scale Liquid-Cooled Solutions with the Industry's Latest Accelerators Target AI and HPC Convergence

Under the terms of the Agreement, the two companies will engage in diverse approaches to unlock more opportunities for Kakao Entertainment&#39;s vast and influential catalog as well as its prominent artists to effectively build influence among younger generation users in&nbsp;China. Both parties will work collectively to carry out in-depth cooperation, jointly promoting Korean music and bringing more high-quality content to music lovers in&nbsp;China, further amplifying NetEase Cloud Music&#39;s broad music content library.

NTES

NetEase Cloud Music Strikes Key Licensing Deal With Kakao Entertainment To Enrich K-Pop Catalog In China

Harmonic (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HLIT#NASDAQ">HLIT</a>) today announced the launch of its new the Pearl Remote Optical Line Termination (R-OLT) module for fiber broadband service delivery from Harmonic&#39;s versatile Ripple and Oyster node enclosures. Pearl R-OLT is Harmonic&#39;s latest innovation and joins the company&#39;s broad ecosystem of fiber and DOCSIS edge devices powered by the cOS&trade;&nbsp;virtualized core.

HLIT

Harmonic Launches New High-Density Remote OLT to Simplify Fiber Broadband Service

Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) store employees in Maryland have <a href="https://www.benzinga.com/markets/equities/24/05/38724325/apples-unionized-maryland-store-on-brink-of-strike-amid-union-talks-report">voted&nbsp;in favor of a strike</a>, citing unsatisfactory working conditions, but New Jersey voted against unionization. 
What Happened: The Apple Store workers at Towson Town Center in Maryland, who unionized two years ago, have voted to go on strike after a year of unproductive negotiations with Apple management. The vote was announced on Saturday, with no specific strike date set yet.
&#8220;This vote today is the first step in demonstrating our solidarity and sends a clear message to Apple,&#8221; said members of the IAM CORE Negotiating Committee.&nbsp;&#8220;The passage of the strike sanction vote highlights IAM CORE's unwavering commitment to advocating for the rights and well-being of workers in the face of challenges.&nbsp;As discussions with Apple management continue, we remain committed to securing tangible improvements that benefit all employees.&#8221;&nbsp;
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/05/38723527/elon-musk-agrees-meta-cant-be-trusted-after-zuckerberg-led-social-media-giant-hit-with-37m-fine-over?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Agrees &#8216;Meta Can&#8217;t Be Trusted&#8217; After Zuckerberg-Led Social Media Giant Hit With $37M Fine Over Data Sharing Practices</a>
The union, which is affiliated with&nbsp;the International Association of Machinists, highlighted issues such as <a href="https://www.benzinga.com/general/24/04/38186755/jeff-bezos-says-people-have-very-high-standards-for-their-work-life-balance-if-you-enjoy-half-of-it">work-life balance</a>, unpredictable scheduling, and inadequate wages in a press release. IAM CORE comprises around 100 staff members.
On the other hand, an Apple Store in&nbsp;<a href="https://www.benzinga.com/news/24/04/38193281/apple-faces-increased-union-efforts-from-new-jersey-store-will-previous-attempts-in-maryland-oklahom">New Jersey voted against unionizing</a>,&nbsp;with the union attributing the defeat to Apple&#8217;s tactics.&#8221;Instead of leaving the decision up to the workers themselves, the company turned to its usual anti-union playbook to influence the results of the election,&#8221; Communications Workers of America said in a statement, <a href="https://www.bloomberg.com/news/articles/2024-05-12/apple-store-in-new-jersey-votes-against-unionizing-cwa-says">reported</a> Bloomberg. 
&#8220;Apple's union-busting is a widespread problem that underscores workers' need to have an independent voice on the job to ensure the company lives up to its credo. Only through a strong union contract can workers establish real respect and democracy on the job,&#8221; said CWA.
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.
An Apple spokesperson emphasized the company&#8217;s commitment to providing an excellent experience for its employees and pledged to engage with the union respectfully and in good faith
&#8220;We deeply value our team members and we're proud to provide them with industry-leading compensation and exceptional benefits. As always, we will engage with the union representing our team in Towson respectfully and in good faith,&#8221; the company said.
Why It Matters: In 2022, two Apple stores in Maryland and Oklahoma made history by voting to unionize, marking the company&#8217;s first instances of organized labor despite previous resistance. 
These successes were part of a broader trend during the pandemic era, which saw significant breakthroughs in unionizing efforts at notable companies like Amazon.com Inc., Microsoft Corp., and Chipotle Mexican Grill Inc. 
Starbucks Corp. witnessed over 400 cafes unionizing in the past two and a half years. However, although discussions about organizing have taken place among employees at numerous Apple stores, progress in these efforts has been notably slower compared to Starbucks, the report noted.
Photo Courtesy: Shutterstock.com
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/05/38635874/elon-musk-is-astonished-by-warren-buffetts-berkshire-hathaway-amassing-as-much-cash-as-tesla-ceo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Is Astonished By Warren Buffett&#8217;s Berkshire Hathaway Amassing As Much Cash As Tesla CEO&#8217;s Wealth: &#8216;Wow&#8217;</a>
Disclaimer:&nbsp;This content was partially produced with&nbsp;the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was&nbsp;reviewed and published by Benzinga editors.

AAPL

Apple Store Workers In Maryland Vote In Favor Of Strike Over Working Conditions — New Jersey Against Unionization

In a dramatic turn of events, an attacker returned the entirety of funds stolen from a cryptocurrency whale in just a week.
What Happened: According to on-chain tracking platform, Lookonchain, the whale lost more than $70 million in Wrapped BItcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WBTC</a>) to a phisher who tricked them into sending their funds to an address that resembled their own.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">A whale lost 1,155 <a href="https://twitter.com/search?q=%24WBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$WBTC</a>($71M) due to a phishing attack on May 3. A week later, the attacker returned all the funds. How did it happen? What should we pay attention to? 1/&#x1f9f5; A thread tells you the whole story. <a href="https://t.co/4FVwO631Qo">pic.twitter.com/4FVwO631Qo</a>
&mdash; Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1789699903041700023?ref_src=twsrc%5Etfw">May 12, 2024</a></blockquote>
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The whale was trying to send their WBTC tokens purchased after the market dip on May 2. For this purpose, they created a new address.&nbsp;
The phisher, who was scrutinizing the victim's on-chain activities, started spamming them with transactions using an address with the same starting and ending letters.&nbsp;
The tactic, known in the crypto space as an address poisoning attack, works by tricking the victim into sending funds to a similar-looking address, which is exactly what happened.&nbsp;&nbsp;
Upon realizing that theft, the whale contacted the attacker, and tried to strike a deal to get the funds back. They offered the phisher 10% of the stolen funds, with the rest to be returned. However, there was no communication from the other side.&nbsp;
However, unexpectedly, the attacker replied to the whale on May 10, saying, "Please leave your Telegram and I will contact you." After this, the attacker returned all the funds.&nbsp;
Why It Matters: &nbsp;Cybersecurity agency Match Systems <a href="https://chainwire.org/2024/05/11/match-systems-ceo-andrei-kutin-announces-full-recovery-of-68-mln-stolen-crypto-assets-from-cryptex/">claimed </a>that it helped the victim in quick recovery of the stolen cryptocurrencies.
The company underlined that the sooner victims seek assistance from experts in such circumstances, the better their prospects of receiving their funds in full.&nbsp;
As far as prevention was concerned, Lookonchain advised users to save trusted addresses in an address book and avoid copying addresses from transaction history. It also urged users to add a filter for small transactions as a safeguard against phishing efforts.  
Photo by Igor Faun on Shutterstock
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38781124/peter-schiff-says-he-gets-a-kick-out-of-fanatics-accusing-him-of-secretly-owning-bitcoin-t">Peter Schiff Says He Gets A &#8216;Kick&#8217; Out Of Fanatics Accusing Him Of Secretly Owning Bitcoin: They Are &#8216;Drunk On The Kool-Aid&#8217;</a>

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

Cryptocurrency

$WBTC

Whale Loses More Than $70M To Phishing Scam, Here's How They Got Their Money Back

<ul>
<li>If approved, Dupixent would be the first treatment in the U.S. indicated for adolescents aged 12-17 years with inadequately controlled CRSwNP, a condition driven in part by underlying type 2 inflammation that obstructs the sinuses and nasal passages and can lead to a loss of sense of smell</li>
<li>Current treatment options for adolescents with CRSwNP leave many patients with uncontrolled disease and often result in the recurrence of nasal polyps</li>
</ul>

REGN

Regeneron Pharmaceuticals And Sanof's Dupixent (dupilumab) sBLA Accepted For FDA Priority Review For Treatment Of Adolescents With Chronic Rhinosinusitis With Nasal Polyposis (CRSwNP)

Results Intended to Support Filing for Potential Label Extension for Use in Adolescents 
The latest VLA1553-321 data confirmed that a single-dose vaccination with VLA1553 induced a high, sustained immune response with a seroresponse rate of&nbsp;99.1%&nbsp;(232 out of 234 participants) at Day 180 compared to&nbsp;98.8%&nbsp;(248 out of 251 participants) at Day 29 in an immunogenicity subset of individuals who were CHIKV negative at baseline.

VALN

Valneva Reports Further Pivotal Phase 3 Data In Adolescents For Its Single-Shot Chikungunya Vaccine

Tesla&nbsp;CEO&nbsp;Elon Musk&nbsp;seems to think biopharma giant&nbsp;Pfizer, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) has&nbsp;<a target="_blank" href="https://www.benzinga.com/money/best-tax-software-for-small-businesses" rel="noreferrer noopener">dodged taxes</a>&nbsp;despite high profits.
What Happened:&nbsp;The issue began on X, the platform Musk owns, where&nbsp;Ashley St. Clair, a contributor to satirical outlet The Babylon Bee, shared a blog post.&nbsp;
She claimed Pfizer paid zero federal income taxes in 2023. The post alleged the company achieved this by offshoring most profits, effectively eliminating its tax burden.&nbsp;
The author further stated Pfizer, which was among a prominent vaccine maker during the COVID-19 pandemic, spent &#8220;tens of billions lobbying legislators to manipulate the tax code.&#8221;
A May 2023 Senate Finance Committee&nbsp;<a target="_blank" href="https://www.finance.senate.gov/imo/media/doc/pharma_public_release_final_51123.pdf" rel="noreferrer noopener">report</a>&nbsp;echoed these concerns. It criticized pharmaceutical companies for charging exorbitant prescription drug prices while paying minimal taxes.&nbsp;
The report highlighted that a significant share of these sales come from federal health programs like Medicare and Medicaid, funded by taxpayer dollars.&nbsp;
Despite this, &#8220;the pharmaceutical industry pays tax rates that barely exceed single-digits, and the lion&#8217;s share of Big Pharma profits show up offshore, yielding massive tax savings,&#8221; the report concluded.
The report noted Pfizer&#8217;s effective tax rate was a mere 7.6% in 2021, with profits reaching $24.3 billion.&nbsp;
Pfizer&#8217;s 2023 10-K filing showed a negative 105.4% effective tax rate.
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="134" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/13013130/WhatsApp-Image-2024-05-13-at-01.10.53_6e32ddf4-1024x134.jpg" alt="" class="wp-image-334129" style="width:917px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/13013130/WhatsApp-Image-2024-05-13-at-01.10.53_6e32ddf4-1024x134.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/13013130/WhatsApp-Image-2024-05-13-at-01.10.53_6e32ddf4-300x39.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/13013130/WhatsApp-Image-2024-05-13-at-01.10.53_6e32ddf4-768x100.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/13013130/WhatsApp-Image-2024-05-13-at-01.10.53_6e32ddf4.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Source: Company filing
Musk responded to the St. Clair&#8217;s post with a simple, &#8220;Seems low.&#8221; 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Sounds low
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1789804491216195624?ref_src=twsrc%5Etfw">May 12, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/money/best-biotech-stocks">Best Biotech Stocks</a>
Why It&#8217;s Important: In December 2021, Musk paid a record-breaking $11 billion in federal income taxes, resulting from selling Tesla stock to finance his purchase of Twitter, which has since been renamed X.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">For those wondering, I will pay over $11 billion in taxes this year
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1472754632325795843?ref_src=twsrc%5Etfw">December 20, 2021</a></blockquote>
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A&nbsp;<a target="_blank" href="https://americansfortaxfairness.org/less-us-corporations-pay-executives-uncle-sam/" rel="noreferrer noopener">report</a>&nbsp;by&nbsp;Americans For Fair Taxation (AFFT) also revealed Tesla paid no federal income taxes despite significant profits and executive pay.&nbsp;
In 2022, CNN&nbsp;<a target="_blank" href="https://edition.cnn.com/2022/02/10/investing/elon-musk-tesla-zero-tax-bill/index.html" rel="noreferrer noopener">reported</a>&nbsp;that&nbsp;Tesla,&nbsp;in its 10-K filing, said that its U.S. operations lost $130 million on a pre-tax basis in 2021, while all of the pre-tax profits, amounting to $6 billion, came from overseas operations.&nbsp;This&nbsp;meant the company may not have to pay taxes in the U.S., from where 45% of Tesla&#8217;s revenue that year came from.
Tesla&#8217;s 2023 10-K filing&nbsp;further&nbsp;confirms a negative 50% effective tax rate.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="78" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/13015441/image-63-1024x78.png" alt="" class="wp-image-334154" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/13015441/image-63-1024x78.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/13015441/image-63-300x23.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/13015441/image-63-768x59.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/13015441/image-63-1536x117.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/13015441/image-63.png 1897w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Source: Company filing
Why It Matters: These corporate tax practices deprive the government of vital revenue. AFFT urges Congress to increase the corporate tax rate from 28% and close loopholes. 
Billionaire investor&nbsp;Warren Buffett,&nbsp;at Berkshire Hathaway&#8217;s annual meeting, noted his firm paid $5 billion in federal corporate taxes.&nbsp;<a target="_blank" href="https://www.benzinga.com/government/24/05/38630925/buffett-says-no-other-americans-would-have-had-to-pay-even-a-dime-in-federal-taxes-if-this-had-happe" rel="noreferrer noopener">He stated</a>, &#8220;If 800 other companies had done the same&nbsp;thing&nbsp;no other person in the United States would have had to pay a dime of federal taxes.&#8221;
Read Next: <a href="https://www.benzinga.com/government/24/05/38663242/warren-buffett-was-right-americas-billionaires-now-pay-lower-tax-rate-than-working-class-for-first-t">Warren Buffett Was Right! America&#8217;s Billionaires Now Pay Lower Tax Rate Than Working Class For First Time Ever, New Analysis Shows</a>
Photo by Frederic Legrand &#8211; COMEO on Shutterstock

Government

Regulations

'Seems Low:' Elon Musk Questions Pfizer's $0 Tax Bill, But Did Tesla Pony Up To Uncle Sam?

Subject to the execution of definitive agreements and any necessary regulatory approvals, Patterson-UTI expects to hold a minority equity interest in Turnwell Industries LLC OPC (&quot;Turnwell&quot;), a company recently formed by ADNOC Drilling. Patterson-UTI expects that Schlumberger Middle East SA, a subsidiary of SLB, will also hold a minority equity interest in Turnwell. Turnwell has been awarded a&nbsp;$1.7 billion&nbsp;contract to drill and complete 144 unconventional wells for Abu Dhabi National Oil Company (ADNOC).

PTEN

Patterson-UTI Signs Non-Binding Term Sheet To Partner With ADNOC Drilling In The UAE

Caledonia Mining (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/CMCL#AMEX">CMCL</a>) reported quarterly earnings of $0.27 per share. This is a 7.56 percent decrease over earnings of $0.29 per share from the same period last year. The company reported $38.53 million in sales this quarter. This is a 30.89 percent increase over sales of $29.43 million the same period last year.

CMCL

Caledonia Mining Q1 EPS $0.27 Down From $0.29 YoY, Sales $38.53M Up From $29.43M YoY

The U.S. Senate Majority Leader, Chuck Schumer (D-N.Y.), has called on the Federal Trade Commission (FTC) to reevaluate the proposed $53 billion merger between Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) and Hess Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>).
What Happened: Schumer voiced his concerns over the merger on social media on Monday. He cautioned that the merger could empower oil majors to raise gas prices. 
&#8220;I'm sounding the alarm against yet another proposed Big Oil merger—a $53B deal between Chevron and Hess It would give Big Oil more fuel to raise gas prices,&#8221; he said.
&#8220;Trump might be hosting dinners for Big Oil execs, but the FTC should side with consumers and pump the breaks on this deal.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I'm sounding the alarm against yet another proposed Big Oil merger—a $53B deal between Chevron and Hess It would give Big Oil more fuel to raise gas prices Trump might be hosting dinners for Big Oil execs, but the FTC should side with consumers and pump the breaks on this deal
&mdash; Chuck Schumer (@SenSchumer) <a href="https://twitter.com/SenSchumer/status/1789749253956399528?ref_src=twsrc%5Etfw">May 12, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/insights/options/24/05/38761653/smart-money-is-betting-big-in-baba-options?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Smart Money Is Betting Big In BABA Options</a>
At the time of publishing, Chevron and Hess are yet to respond to inquiries sent by Benzinga.
Why It Matters: In October, Chevron <a href="https://www.benzinga.com/markets/equities/23/10/35369568/oil-gas-giant-chevron-agrees-to-acquire-hess-corp-at-a-premium">agreed to buy Hess for $53 billion </a>or $171 per share in an all-stock transaction, representing a premium of 10.3% on a 20-day average based on closing prices on October 20, 2023. The total enterprise value of the deal, including debt, is $60 billion.
Schumer has consistently advocated for increased scrutiny of large oil mergers. Last November, as per Reuters, he and 22 other Democratic senators wrote to the FTC, warning that large-scale acquisitions by oil and gas giants like Exxon and Chevron could result in higher consumer prices.
In December, the FTC sought additional information and documentary material from Chevron and Hess in connection with the merger, according to another <a href="https://www.benzinga.com/markets/equities/23/12/36154622/ftc-seeks-more-information-on-chevron-hess-deal-chevron-chalks-out-2024-capex-budget">Benzinga report</a>. The issuance of the second request extended the waiting period imposed by the HSR act until 30 days after Chevron and Hess have substantially complied with the Second Request.
Price Action: On Friday, Chevron&#8217;s stock closed at $165.80, and Hess&#8217;s stock closed at $160.35, according to <a href="https://pro.benzinga.com">Benzinga Pro</a>. Both companies had reported earnings surprises in their first-quarter earnings of 2024, with Chevron reporting an EPS of $2.93 against an estimate of $2.68, and Hess reporting an EPS of $3.16 against an estimate of $1.69.
Read Next: <a href="https://www.benzinga.com/trading-ideas/24/05/38766245/nvidias-triumphant-rise-to-a-2-27-trillion-titan-and-goldman-sachs-bold-22-growth-prediction-as-new?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia&#8217;s Triumphant Rise To A $2.27 Trillion Titan And Goldman Sachs&#8217; Bold 22% Growth Prediction As New Partnerships Forge Ahead</a>
Photo by Jonathan Weiss on Shutterstock
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Commodities

Politics

General

Chuck Schumer Says Trump Might Be 'Hosting Dinners For Big Oil Execs' But FTC Should Side With Consumers On $53B Chevron-Hess Merger

In a recent episode of Joe Rogan&#8216;s podcast, former Fox News host Tucker Carlson made some controversial remarks about conspiracy theorist Alex Jones, calling him a supernatural &#8220;prophet&#8221; who predicted the 9/11 attacks.
What Happened: During a recent episode of The Joe Rogan Experience, Carlson expressed his admiration for Jones, stating that he believes Jones has psychic abilities. &#8220;He&#8217;s channeling something,&#8221; Carlson said.
&#8220;I&#8217;ve asked him about it. &#8216;How did you do that?&#8217; At length, during dinner on my barn recently. We&#8217;re talking about this. &#8216;How&#8217;d you do that?&#8217; &#8216;I don&#8217;t know. It just came to me.&#8217; And that&#8217;s real. That is real. The supernatural is real and I don&#8217;t know why it&#8217;s hard for the modern mind, I guess because it&#8217;s a materialist mind to accept that.&#8221;
Carlson went on to compare Jones to historical prophets, stating, &#8220;That&#8217;s not a new phenomenon. It&#8217;s happened throughout history. There are people called prophets, and there are people who were prophets who weren&#8217;t called prophets, but there are people who have information or parts of information, bits of information, visions of information come to them and then they relay it.&#8221;
&#8220;Well, and he&#8217;s also channeling some stuff. You can&#8217;t call 911 in detail because you&#8217;re super informed before the fact. He called it. He literally called it in the summer of 2001. He said, planes will fly into the World Trade Centers and they will blame a man called Osama bin Laden. We know that he said that because he said it on tape multiple times. And then he said, call the White House and tell them this. Now, let&#8217;s just. That&#8217;s all we know about Alex Jones,&#8221; Carlson said. 
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<iframe loading="lazy" title="Joe Rogan Experience #2138 - Tucker Carlson" width="500" height="281" src="https://www.youtube.com/embed/DfTU5LA_kw8?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38753994/cardano-founder-charles-hoskinson-says-voting-for-biden-is-a-vote-against-american-crypto-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Cardano Founder Charles Hoskinson Says Voting For Biden Is A &#8216;Vote Against American Crypto Industry&#8217;</a>
Why It Matters: Carlson&#8217;s comments about Jones come in the wake of several other controversial statements and actions. In 2023, Elon Musk reinstated Jones&#8217; account on X, despite the platform&#8217;s previous <a href="https://www.benzinga.com/news/23/12/36168941/elon-musks-controversial-move-alex-jones-returns-to-x-after-user-vote">ban on Jones in 2018</a> for his repeated violations of policies against harassment and hate speech. This move by Musk sparked widespread criticism and debate.
Carlson himself has been the <a href="https://www.benzinga.com/news/24/02/37150840/russian-president-mocks-tucker-carlson-interview-expected-tougher-questions-thought-he-would-be-aggr">subject of controversy</a>, including his interview with Russian President Vladimir Putin in 2024, where Putin expressed his dissatisfaction with Carlson&#8217;s line of questioning. 
Additionally, Carlson&#8217;s <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">claims about the existence of aliens</a> were dismissed by Musk, further adding to the controversy surrounding Carlson&#8217;s statements.
Read Next: <a href="https://www.benzinga.com/news/24/05/38752266/nikki-haley-said-to-be-wooing-more-top-donors-but-leaves-trump-support-up-in-the-air-for-now?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nikki Haley Said To Be Wooing More Top Donors But Leaves Trump Support Up In The Air For Now</a>
Image Via Shutterstock 
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
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Social Media

Global

Tucker Carlson Believes Conspiracy Theorist Alex Jones Is 'Supernatural' Prophet Who Predicted 9/11 Before It Happened: 'He Literally Called It'

<ul>
<li>This USD 300 million third tranche of the Program shall start on May 13, 2024, and end no later than August 12, 2024. Ordinary shares purchased under the Program will be cancelled in due course.</li>
<li>Any buyback of ordinary shares in relation to this announcement will be carried out under the authority granted by the general meeting of shareholders held on June 2, 2020, up to a maximum of&nbsp;10%&nbsp;of the Company&#39;s capital, or any renewed or extended authorization to be granted at a future general meeting of the Company.</li>
</ul>

Buybacks

Reported Sunday, Tenaris Commences A $300M Third Tranche Of Its $1.2B Share Buyback Program

The approval is based on the pivotal TRIDENT-1 trial, in which AUGTYRO achieved a high response rate and durable responses, including robust intracranial responses

ZLAB

Reported Sunday, Zai Lab Received Approval  Of AUGTYRO (repotrectinib) For Patients With ROS1-Positive NSCLC By China's National Medical Products Administration

Elon Musk welcomed the decision of an Australian federal court that rejected a temporary injunction order by the eSafety commissioner on videos of the Sydney church stabbing that took place in April.
What Happened: On Monday, Justice Geoffrey Kennett rejected an appeal to extend the injunction until a full trial on the merits of the regulator's demand.
Although the court&#8217;s decision is viewed as a triumph for tech giant X, the final ruling will depend on a full trial to be held at a later date, The Sydney Morning Herald <a href="https://www.smh.com.au/politics/federal/elon-musk-victory-as-judge-overturns-ban-on-church-stabbing-video-posts-20240513-p5jd31.html">reported</a> on Monday. 
Following the court&#8217;s verdict, Musk, who owns X, stated on X, &#8220;Not trying to win anything. I just don't think we should be suppressing Australian's rights to free speech.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Not trying to win anything. I just don't think we should be suppressing Australian's rights to free speech.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1789870567224402136?ref_src=twsrc%5Etfw">May 13, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38752150/who-saw-this-coming-elon-musks-starlink-projected-to-rake-in-6-6b-revenue-this-year?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Who Saw This Coming? Elon Musk&#8217;s Starlink Projected To Rake In $6.6B Revenue This Year As Users Flock To</a>
Why It Matters: The legal dispute between Musk&#8217;s X and Australian regulators heated up to the point where Musk had <a href="https://www.benzinga.com/news/24/04/38368734/elon-musk-hits-back-at-australias-leader-amid-row-over-removal-of-violent-video-from-x-does-the-pm-t">a war of words with Australian Prime Minister Anthony Albanese</a>. 
Musk also <a href="https://www.benzinga.com/news/24/05/38774256/elon-musk-slams-australian-government-for-saying-social-license-is-required-amid-tussle-with-x-doubt">criticized the Australian government&#8217;s notion </a>of a &#8220;social license,&#8221; implying that it would amount to &#8220;suppressing&#8221; the rights of Australians. This was in response to the government's criticism of social media platforms for not promptly removing violent posts.
The Australian government has also <a href="https://www.benzinga.com/government/24/05/38751844/australia-calls-for-inquiry-into-metas-facebook-elon-musks-x-tiktok-to-make-these-platforms-accounta">called for a parliamentary inquiry</a> into the operations of major social media platforms, including X, Facebook and TikTok. The inquiry aimed to address the unchecked influence of these platforms and their handling of violent content.
Read Next: <a href="https://www.benzinga.com/news/24/05/38723527/elon-musk-agrees-meta-cant-be-trusted-after-zuckerberg-led-social-media-giant-hit-with-37m-fine-over?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Agrees &#8216;Meta Can&#8217;t Be Trusted&#8217; After Zuckerberg-Led Social Media Giant Hit With $37M Fine Over</a>
Photo by Angga Budhiyanto on Shutterstock
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 <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Pooja Rajkumari</a> 
 
 
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Elon Musk Says 'Not Trying To Win Anything' After Australia Lifts Temporary Ban On X

With U.S. stock futures trading higher this morning on Monday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Tencent Music Entertainment Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TME#NYSE">TME</a>) to report quarterly earnings at 14 cents per share on revenue of $916.95 million before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Tencent Music Entertainment shares fell 0.6% to $13.26 in after-hours trading.</li>
<li>JanOne Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JAN#NASDAQ">JAN</a>) announced plans to acquire ALT 5 Sigma Inc. The deal is projected to close in the week of May 13th.JanOne shares jumped 12.2% to $4.50 in the after-hours trading session.</li>
<li>Analysts are expecting StoneCo Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STNE#NASDAQ">STNE</a>) to post quarterly earnings at 28 cents per share on revenue of $607.57 million. The company will release earnings after the markets close. StoneCo shares gained 0.8% to $16.73 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Forward Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FORD#NASDAQ">FORD</a>) posted a second-quarter loss from continuing operations of 5 cents per share, versus a year-ago loss of 1 cent per share. Its revenues fell 19.6% to $7.8 million. Forward Industries shares gained 2.4% to $0.5384 in the after-hours trading session.</li>
<li>Analysts expect Paysafe Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSFE#NYSE">PSFE</a>) to post quarterly earnings at 10 cents per share on revenue of $408.25 million after the closing bell. Paysafe shares rose 0.1% to $15.20 in after-hours trading.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/05/38759538/how-to-earn-500-a-month-from-home-depot-stock-ahead-of-q1-earnings">How To Earn $500 A Month From Home Depot Stock Ahead Of Q1 Earnings</a>

Pre-Market Outlook

Trading Ideas

FORD

PSFE

STNE

Tencent Music Entertainment, StoneCo And 3 Stocks To Watch Heading Into Monday

Entourage Health Corp.	 (ETRGF) Q2 2023 Earnings Call Transcript

Entourage Health reports Q2 results

Entourage Health enters into an amended supply agreement

Overall market sentiment has been down on Entourage Health Corp (ETRGF)  stock lately. ETRGF receives a Bearish rating from InvestorsObserver Stock Sentiment Indicator. Entourage Health Corp has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on ETRGF!See Full ETRGF ReportWhat

What is the Market's View on Entourage Health Corp (ETRGF) Stock's Price and Volume Trends Friday?

Entourage Health Corp (ETRGF) stock has fallen -66.67% over the last 12 months. InvestorsObserverâ€&#x2122;s proprietary ranking system, gives ETRGF stock a score of  35 out of a possible 100. That rank is  influenced by a short-term technical score of 43. ETRGF's rank also includes a long-term technical score of 62.  ETRGF has an

Entourage Health Corp (ETRGF) Stock Decreases 0.00% This Week; Should You Buy?

Entourage Health Corp (ETRGF) is near the bottom in its sector according to InvestorsObserver.ETRGF gets an overall rating of 2. That means it scores higher than 2% of stocks.Entourage Health Corp gets a 6 rank in the Healthcare sector. Healthcare is number 4 out of 11 sectors. ETRGF has an Overall Score of 2. Find out wha