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The New York Police Department has issued a warning about escalating threats to healthcare executives, according to a report on Wednesday. This follows the murder of UnitedHealth Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) CEO Brian Thompson. The NYPD&#8217;s bulletin highlights the circulation of online posts listing the names and salaries of several health insurance executives, raising security concerns.
What Happened: The NYPD&#8217;s bulletin, as <a href="https://abcnews.go.com/US/executive-hit-lists-wanted-posters-nypd-warns-threats/story?id=116662519">reported</a> by ABC News, reveals that &#8220;Wanted&#8221; signs featuring corporate executives have appeared across Manhattan. Social media users have been celebrating Thompson&#8217;s death, and the suspect, Luigi Mangione, is being viewed by some as a &#8220;martyr&#8221; who could inspire extremist actions.
The bulletin warns that Mangione&#8217;s actions could incite violence from extremist groups. Companies are urged to enhance security measures for their executives. Mangione was apprehended in Pennsylvania on&nbsp;Monday and faces charges in&nbsp;New York, including second-degree murder.
Additionally, some online users have reacted positively to the killing, encouraged further targeting of similar executives, and spread conspiracy theories about the incident. Viral posts have emphasized a &#8220;hitlist&#8221; of health insurance CEOs, suggesting they should be fearful.
The posters in New York feature the image of Thompson as well as American Express Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) CEO Stephen Squeri. Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-12-11/cops-investigate-wanted-posters-of-executives-around-nyc">noted</a> that Thompson&#8217;s posters were marked with a red X.
See Also: <a href="https://www.benzinga.com/news/24/12/42404540/whats-going-on-with-dogecoin-rival-shiba-inu-shib-2?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With Dogecoin Rival Shiba Inu (SHIB)?</a>
Why It Matters: The murder of UnitedHealthcare CEO Thompson last week, outside the New York Hilton Midtown, has sent shockwaves through the healthcare industry. The targeted <a href="https://www.benzinga.com/general/health-care/24/12/42316904/unitedhealthcare-ceo-brian-thompson-fatally-shot-outside-nyc-hotel">attack occurred</a> during an investor day event, raising questions about the safety of corporate executives. 
Details about the suspect, Mangione, reveal a complex background, including chronic pain and a fascination with the Unabomber. This has added layers to the investigation. Mangione was <a href="https://www.benzinga.com/news/legal/24/12/42418763/unitedhealthcare-ceo-murder-suspect-chronic-pain-unabomber-fascination-isolation-details-emerge">arrested</a> in Pennsylvania with a ghost gun and silencer, matching the suspect&#8217;s description. 
The incident has also <a href="https://www.benzinga.com/24/12/42365853/unitedhealthcare-faces-tough-questions-following-insurance-business-ceos-tragic-death">intensified scrutiny</a> on UnitedHealthcare and the broader insurance industry. Bullet casings found at the crime scene bore inscriptions like &#8220;deny&#8221; and &#8220;delay,&#8221; terms often associated with insurance claim practices. 
Price Action: On Wednesday UnitedHealth Group shares ended the day 5.6% lower at $533.53 and fell another 0.1% in the after-hours trading, according to <a href="http://pro.benzinga.com/">data from Benzinga Pro</a>.
Photo via Shutterstock
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42405504/dogecoin-can-touch-18-if-things-go-wild-says-influential-crypto-trader-thankful-for-the-dip-and-will-buy-more?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Can Touch $18 If Things &#8216;Go Wild,&#8217; Says Influential Crypto Trader: &#8216;Thankful For The Dip And Will Buy More&#8217;</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

News

Health Care

General

NYPD Warns About 'Wanted' Posters Targeting Executives, Including AmEx CEO's Image And Crossed-Out UnitedHealth CEO

Sixteen years ago, Alphabet Inc.'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 Chrome was a scrappy newcomer in a browser market dominated by Microsoft's Internet Explorer.
Today, it stands as the undisputed champion of web browsing, commanding over 65% of the global market share. But how did this transformation happen, and what does it mean for the future of internet technology?
The Unlikely Origin Story
In the mid-2000s, Google&#8217;s co-founders Larry Page and Sergey Brin harbored a radical vision. While then-CEO Eric Schmidt remained skeptical about challenging Microsoft&#8217;s browser dominance, Page and Brin secretly assembled a team of top-tier developers from Mozilla and Netscape.
&#8220;I said there was no scenario we were going to do an operating system and a browser because Microsoft would kill us and I don&#8217;t want to get killed,&#8221; Schmidt later recalled telling the co-founders once with a hint of amusement.
<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">How Chrome was "invented" <a href="https://twitter.com/ericschmidt?ref_src=twsrc%5Etfw">@ericschmidt</a> ‘s fun BTS. <a href="https://t.co/N2fCylQ38f">pic.twitter.com/N2fCylQ38f</a>
&mdash; Vijay Shekhar Sharma (@vijayshekhar) <a href="https://twitter.com/vijayshekhar/status/1396504951048732679?ref_src=twsrc%5Etfw">May 23, 2021</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
This clandestine approach would prove to be a masterstroke of technological innovation.
See Also: <a href="https://www.benzinga.com/24/12/42446686/google-introduces-ai-agent-prototype-that-can-browse-the-web">Google Introduces AI Agent Prototype That Can Browse The Web</a>
A Browser Built For The Modern Web
Initially introduced as a beta version on Sept 2, 2008, and then the stable version on Dec. 11, 2008, Chrome wasn&#8217;t just another browser—it was a reimagining of how people interact with the internet.&nbsp;
The browser pioneered revolutionary features like tab sandboxing, which prevented entire browser crashes, and delivered unprecedented speed coupled with remarkable simplicity.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/11193307/Screenshot-2024-12-12-at-6.03.00%E2%80%AFAM-1024x920.png" alt="" class="wp-image-688503" /><figcaption class="wp-element-caption">Source: Statista&#x7C; Evolution of global market share for a selection of internet browsers between the first quarter of 2009 and the fourth quarter of 2024.</figcaption></figure>
Unlike its predecessors, Chrome was architected as a sophisticated platform for cloud-based web applications, featuring a robust ecosystem of extensions that empowered users with unprecedented customization and functionality.
The impact was swift and decisive. Once a formidable competitor, Firefox saw its market share <a href="https://www.cnet.com/tech/services-and-software/ie-shrinks-in-09-but-maintains-dominance/">plummet</a> from 24.61% in 2009 to a mere 2.59% in November 2024. Internet Explorer, once the unassailable king of browsers, has been dethroned.
<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/2024/12/11193624/StatCounter-browser-ww-monthly-202311-202411-bar-1024x576.png" alt="" class="wp-image-688504" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/11193624/StatCounter-browser-ww-monthly-202311-202411-bar-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/11193624/StatCounter-browser-ww-monthly-202311-202411-bar-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/11193624/StatCounter-browser-ww-monthly-202311-202411-bar-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/11193624/StatCounter-browser-ww-monthly-202311-202411-bar.png 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Sundar Pichai: The Architect Of Chrome&#8217;s Success
Sundar Pichai was the driving force behind Chrome. His vision transformed the browser from a simple web tool to an integrated platform that seamlessly connected users with Google&#8217;s expanding ecosystem of services.
In 2015, Pichai became CEO of Google and later Alphabet, overseeing not just Chrome but a vast array of products.&nbsp;
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.
But Now There Are Regulatory Headwinds
Today, Chrome&#8217;s success has <a href="https://www.benzinga.com/news/legal/24/11/42053249/google-could-lose-chrome-browser-in-dojs-latest-antitrust-move">attracted intense scrutiny</a>. The U.S. Department of Justice is investigating Google&#8217;s market practices, raising critical questions about anti-competitive behavior in the tech industry.
The DOJ alleged that Google&#8217;s monopoly on search stifles competition and harms consumers. To address this, the DOJ proposes that <a href="https://www.benzinga.com/tech/24/11/42140450/doj-targets-google-chrome-poll-shows-64-oppose-alphabet-breakup-youtube-seen-as-top-prize">Google divest its Chrome browser</a>, ban exclusive deals with companies like Apple Inc. and Samsung, and share valuable search data with competitors.
The DOJ also aims to curb Google&#8217;s influence on Android and prevent it from favoring its own search engine. While the DOJ argues these measures are necessary to promote fair competition, Google has vehemently opposed the proposals.
Chrome&#8217;s journey from underdog to market leader is more than a corporate success story. It&#8217;s a testament to technological innovation, strategic vision, and the rapidly evolving digital landscape.
As regulatory pressures mount and technological boundaries continue to shift, one question remains: Is the internet browser saga coming full circle? The next chapter is yet to be written, but one thing is certain—the world will be watching.
Image via Shutterstock
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/24/12/42428505/google-asks-ftc-to-kill-microsofts-monopoly-over-hosting-openai-technology-on-its-cloud-servers-report">Google Wants FTC To Dismantle Microsoft&#8217;s Exclusive Cloud Hosting Deal With OpenAI: Report</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Tech

GOOG

GOOGL

Chrome Was A Scruffy Underdog 16 Years Ago, But Today It Is The Undisputed Top Dog — Is The Internet Browser Saga Finally Coming Full Circle?

Music legend Elton John voiced strong opposition to the legalization of cannabis in the U.S., arguing that it is addictive and a gateway to more dangerous substances.
"I maintain that it's addictive. It leads to other drugs," said John, who was recently honored as TIME magazine&#8217;s &#8220;Icon of the Year.&#8221; Reflecting on his own experiences, he added, "When you're stoned — and I've been stoned — you don't think normally. Legalizing marijuana in America and Canada is one of the greatest mistakes of all time."
John, now 34 years sober, shared with TIME the turning point that led him to quit drugs and alcohol for good. While cocaine had been his drug of choice, his decision to change came after the death of a 13-year-old boy, marking a pivotal moment in his life.
<h1 class="wp-block-heading">Life-Changing Funeral Of Young AIDS Victim: Ryan White</h1>
"It all came to a climax, really, at the Ryan White funeral in Indianapolis — a really sad and emotional week — and I came back to the hotel thinking I'm just so out of line," John <a href="https://time.com/7201151/icon-of-the-year-2024-elton-john/">told</a> TIME. "It was a shock to see how far down the scale of humanity I'd fallen."
White was one of the first children to be stricken with AIDS. He was diagnosed at 13 in December 1984 after a blood transfusion and told he had six months to live. He died six years later in April 1990. During those years, Ryan gained national attention and became the face of public education about the disease that had especially devastated the homosexual community.
Shortly after Ryan's death, John checked into Chicago's Parkside Lutheran Hospital in July 1990 and remained sober ever since.
"You make terrible decisions on drugs," John said who stopped his touring in 2023. &#8220;It really upsets me, thinking back on how many people I probably hurt."
John credits White and his family with saving his life.
"I knew that my lifestyle was crazy and out of order. And six months later, I got sober and clean and have been ever since," John <a href="https://www.pbs.org/newshour/arts/elton-john-credits-ryan-whites-family-with-saving-his-life">told</a> PBS in 2022. "I cannot thank them enough, because without them, I'd probably be dead." 
<h1 class="wp-block-heading">Throwing The Baby Out With The Bathwater?</h1>
John, like many who've gone off drugs and alcohol, often contends that it's all or nothing. In the singer&#8217;s case, he said marijuana is a gateway drug, a controversial theory that <a href="https://sites.newpaltz.edu/news/2017/09/latest-benjamin-center-brief-debunks-marijuana-gateway-fallacy/#:~:text=The%20Benjamin%20Center%20for%20Public,harder%20drugs%20is%20a%20myth.">has been debunked</a> in scientific circles.
"It's tough to tell someone that they're being an a—hole, and it's tough to hear," he says, saying that when it came to getting sober, "Eventually I made the choice to admit that I'm being an a—hole."&nbsp;
Photo: Courtesy of Shutterstock.

Cannabis

Entertainment

Elton John, TIME's 'Icon Of The Year,' Says Legalizing Cannabis 'Is Greatest Mistake Of All Time'

The market eagerly awaits Donald Trump&#8216;s first day in office as U.S. president, as his new tariffs could have a cascading effect on domestic industries as much as foreign nations.
A proposed 25% tariff on Canadian imports poses a considerable risk to the American Midwest, a region heavily reliant on <a href="https://www.benzinga.com/topic/canada">Canadian oil imports</a>.
Despite being the world&#8217;s largest oil producer, the U.S. depends on Canada for more than four million barrels of oil daily, much of which goes through Midwest refineries configured for heavier Canadian crude.
This type of oil is closer to heavy oil produced by heavily sanctioned countries like Venezuela or Russia and is different from lighter U.S. shale oil. BP's Whiting refinery in Indiana, which employs 1,800 people, has processed more than 57% of its 450,000 barrels per day capacity from Canadian sources.
"We import a lot of energy from Canada. Taxing that would raise costs and not help American jobs," former Commerce Secretary Wilbur Ross said <a href="https://www.youtube.com/watch?v=48FNiTdqZX0">for</a> CBC News. If tariffs go through, gasoline prices in the Midwest could jump as much as 10%, oil analyst Patrick De Haan estimated <a href="https://www.reuters.com/markets/commodities/trumps-proposed-tariffs-canada-would-drive-up-pump-prices-analysts-warn-2024-11-27/">per</a> Reuters.
The American Fuel and Petrochemical Manufacturers (AFPM) group <a href="https://www.afpm.org/newsroom/news/afpm-statement-potential-north-american-tariffs">cautioned against tariffs</a>, stating they could inflate costs, reduce accessible supplies and provoke retaliatory trade measures, further disrupting U.S. energy markets. Even refineries along the West Coast, better equipped for other crude types, would struggle to replace Canadian oil.
While tariffs would hurt both sides, Canada has been fortifying its position by strengthening its logistical chain. Trans Mountain pipeline expansion, in operation since May, has tripled its capacity to almost 900,000 barrels per day. With a strengthened capacity of up to 630,000 barrels per day reaching the coast of British Columbia, Canada is shielding itself from potential impact.
Thus, investors looking for opportunities in the Canadian oil sector might put the following companies on the watchlist.
Tourmaline Oil Corp (OTCPK: TRMLF) is the leading Canadian natural gas producer, with a notable crude oil production of over half a million barrels daily. While tariffs threaten natural gas exports, there are seven liquefied natural gas (LNG) and one infrastructure project in development in Canada. 
Tourmaline has healthy growth forecasts of 25.5%, boasts a good 34.75% margin, and trades at a reasonable 14.8x P/E ratio. The firm has a low debt-to-equity ratio of 10% and a notable 6.3% dividend.
Hemisphere Energy Corp (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/HMENF#OTCQX">HMENF</a>) is a junior petroleum and natural gas company in southeast Alberta specializing in conventional oil extraction. It has no debt, trades at a minuscule P/E ratio of 6x, and boasts a net profit margin of almost 38%. It pays an outstanding 8.6% dividend, but with a mere $127 million market cap, it is a rather speculative opportunity.
ETF investors can check the Global X Pipelines &amp; Energy Services Index (PPLN), which trades on the Toronto Stock Exchange.
Read Next: • <a href="https://www.benzinga.com/general/market-summary/24/12/42372053/europe-says-thanks-but-well-do-it-ourselves-canada-leads-in-raw-cannabis-exports-not-oil">Europe Says Thanks But We&#8217;ll Do It Ourselves &#8211; Canada Leads In Raw Cannabis Exports, Not Oil</a>
Photo: Shutterstock

Government

Sector ETFs

Commodities

Politics

Global

Trading Ideas

ETFs

HEMISPHERE ENERGY CORP by Hemisphere Energy Corp.

HMENF

TRMLF

Canadian Oil Sector Hedges Trump Tariff Risk, US Midwest Refineries Could Be Affected

Houlihan Lokey (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLI#NYSE">HLI</a>) has outperformed the market over the past 5 years by 16.11% on an annualized basis producing an average annual return of 29.82%. Currently, Houlihan Lokey has a market capitalization of $12.54 billion. 
Buying $100 In HLI: If an investor had bought $100 of HLI stock 5 years ago, it would be worth $372.07 today based on a price of $178.78 for HLI at the time of writing.
<h3>Houlihan Lokey's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1733960718_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Houlihan Lokey Stock In The Last 5 Years

Synopsys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>) has outperformed the market over the past 15 years by 11.7% on an annualized basis producing an average annual return of 23.75%. Currently, Synopsys has a market capitalization of $78.66 billion. 
Buying $100 In SNPS: If an investor had bought $100 of SNPS stock 15 years ago, it would be worth $2,478.51 today based on a price of $512.06 for SNPS at the time of writing.
<h3>Synopsys's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1733959818_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

SNPS

Here's How Much $100 Invested In Synopsys 15 Years Ago Would Be Worth Today

Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>) has outperformed the market over the past 10 years by 19.27% on an annualized basis producing an average annual return of 31.14%. Currently, Fabrinet has a market capitalization of $8.71 billion. 
Buying $1000 In FN: If an investor had bought $1000 of FN stock 10 years ago, it would be worth $15,243.02 today based on a price of $240.23 for FN at the time of writing.
<h3>Fabrinet's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1733958910_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $1000 Invested In Fabrinet 10 Years Ago Would Be Worth Today

Pharmacy-benefit managers (PBMs) have been scrutinized for their role in drug distribution for years. Now a bipartisan group of lawmakers is threatening to break up the companies behind these <a href="https://www.benzinga.com/general/health-care/24/11/42097386/cvs-healthcignaunitedhealths-pharmacy-benefit-managers-accuse-ftc-of-overreach-in-effort-to-reshape-drug-rebate-system">so-called drug middlemen</a>.
What To Know: According to a Wall Street Journal <a href="https://www.wsj.com/politics/policy/warren-hawley-health-insurers-pbm-bill-c8cdeb85?mod=latest_headlines">report</a>, Sen. Elizabeth Warren (D.-Mass.) and Sen. Josh Hawley (R.-Mo.) have sponsored a Senate bill that would require the companies that own health insurance units or PBMs to divest those businesses over the next three years.
A companion bill was also reportedly introduced in the House on Wednesday. 
The legislation could cut off a significant source of revenue for these companies and bring an end to ongoing frustration for patients.
"PBMs have manipulated the market to enrich themselves — hiking up drug costs, cheating employers, and driving small pharmacies out of business," Warren said.
Hawley added that the legislation will stop health care companies from charging &#8220;more and more for less.&#8221;
CVS Health Corp&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) Caremark, Cigna Group&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>) Express Scripts and UnitedHealth Group Inc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) OptumRx are the three largest PBMs. Shares of these companies turned lower Wednesday when news of the bills surfaced.
"Any policies that would limit our ability to negotiate with drugmakers and pharmacies would ultimately increase the cost of medicine in the United States, and in many cases, serve as a handout to the pharmaceutical industry," a&nbsp;CVS Health&nbsp;spokesperson reportedly said.
See Also: <a href="https://www.benzinga.com/news/earnings/24/12/42449013/adobe-q4-earnings-revenue-eps-beat-on-strong-demand-related-to-ai-shares-slide-following-soft-guidance">Adobe Q4 Earnings: Revenue, EPS Beat On Strong Demand Related To AI, Shares Slide Following Soft Guidance</a>
The report indicates the bills are not likely to gain traction in Congress until next year, but supporters are attempting to lay the groundwork for potential passage in 2025.
The role of PBMs in the healthcare industry has been <a href="https://www.benzinga.com/24/12/42365853/unitedhealthcare-faces-tough-questions-following-insurance-business-ceos-tragic-death">challenged by several dissatisfied patients</a> across social platforms following the murder&nbsp;of&nbsp;UnitedHealthcare&nbsp;CEO&nbsp;Brian Thompson. Luigi Mangione <a href="https://www.benzinga.com/news/legal/24/12/42423214/luigi-mangione-fights-extradition-to-new-york-on-murder-charge-shouts-at-press-outside-courthouse">has been charged</a> with killing Thompson. 
CVS, CI, UNH Price Action: CVS shares closed Wednesday down 6.15% at $51.76, Cigna Group closed the session down 5.57% at $294.03 and UnitedHealth closed down 5.60% at $533.53, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Shutterstock.

Movers

Bipartisan Lawmakers Aim To Break Up Health Care Giants With New Legislation

Macy's Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) revealed the findings of its investigation into a significant accounting mishap that impacted its financial reporting <a href="https://www.benzinga.com/quote/M/news">over several years.</a>
The inquiry determined that a single employee's repeated errors and subsequent coverup led to $151 million in falsely recorded expenses, The Wall Street Journal <a href="https://www.wsj.com/business/retail/macys-m-q3-earnings-report-2024-c7363662">reports</a>.
What Happened: The discrepancies, which stemmed from understated small package delivery expenses starting in late 2021, were perpetuated by intentional erroneous entries and falsified documentation. This manipulation concealed the true costs until its discovery in the fall of 2024. 
While Macy's terminated the employee responsible, the company stated the individual did not gain financially from the misconduct, WSJ reports.
Also Read: <a href="https://www.benzinga.com/24/12/42447332/alphabets-quantum-willow-chip-wows-analyst-google-at-the-leading-edge-of-technology-innovation">Alphabet&#8217;s Quantum Willow Chip Wows Analyst: Google At The &#8216;Leading Edge Of Technology Innovation&#8217;</a>
Why It Matters: The timing of the investigation and its fallout couldn't be more critical, given the holiday shopping season's importance to retail. With net sales declining by 2.4% to $4.7 billion for the recent quarter, the company is striving to rebuild investor trust and refocus on operational improvements.
On Wednesday, the company announced adjusted earnings per share for the third quarter that still managed to beat expectations despite the scandal, coming in at $0.04 versus a consensus of $0.03. Macy's highlighted sales strength at its first 50 locations, Bloomingdale's and Bluemercury, partially <a href="https://www.benzinga.com/news/earnings/24/12/42436387/macys-lowers-annual-profit-forecast-amid-accounting-misstep-stock-tumbles">offsetting broader declines. </a>
According to The Journal, CEO&nbsp;Tony Spring&nbsp;emphasized the need to "strengthen existing controls" to prevent future errors of this magnitude.
Macy's also announced plans to close 65 stores this year, surpassing its initial estimate of 55, and raised $66 million through asset sales during the quarter. Despite these measures, activist investors continue to pressure the retailer to unlock more value, including considering a real estate spinoff.
Read Next:
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<li><a href="https://www.benzinga.com/news/large-cap/24/12/42447567/magnificent-seven-tech-titans-hit-182-trillion-market-cap-alphabet-amazon-apple-meta-tesla-jointly-notch-all-time-highs">Magnificent Seven Tech Titans Hit $18.2 Trillion Market Cap: Alphabet, Amazon, Apple, Meta, Tesla Jointly Notch All-Time Highs</a></li>
</ul>
Photo: Shutterstock

Macy's Employee Hid $151 Million In Costs Over Several Years

Earnings

17 Education & Technology Q3 Adjusted Earnings Per ADS $(0.16) Up From $(0.85) YoY, Sales $8.50M Up From $6.18M YoY

President-elect Donald Trump is expected to be named the TIME Person of the Year, according to a new report. The official announcement will happen Thursday morning and could coincide with his first time ringing the opening bell at the<a href="https://www.benzinga.com/politics/24/12/42445514/trump-to-open-nyse-thursday-as-markets-surge"> New York Stock Exchange.</a>
What Happened: TIME recently released a short list of finalists for the 2024 TIME Person of the Year, which included both Trump and his <a href="https://www.benzinga.com/general/social-media/24/11/41784933/donald-trumps-wealth-soars-with-2024-election-win-heres-how-much-president-elect-is-worth-ho">2024 presidential election opponent</a> Vice President Kamala Harris.
Trump has emerged as the winner, as <a href="https://www.politico.com/news/2024/12/11/time-trump-person-of-the-year-000498">reported </a>by Politico. The award would mark the second for Trump, who also won the award back in 2016. Trump would become the first president to win the award since Joe Biden, who shared it with Harris in 2020.
Trump's win would also mark the first two-time win by a president since Barack Obama, who won the award in 2008 and 2012. A total of 14 U.S. presidents have won the award, which was first handed out in 1927.
Musician Taylor Swift <a href="https://www.benzinga.com/general/entertainment/23/12/36118811/did-sam-altman-get-robbed-taylor-swift-wins-time-person-of-the-year-over-openai-founder">won the award last year </a>beating out a short list of finalists that included OpenAI CEO Sam Altman. TIME CEO Jessica Sibley rang the NYSE opening bell last year to mark the cover reveal. The timing of Trump's ringing of the bell and the award being officially announced by TIME on Thursday have now been linked by Politico.
The <a href="https://time.com/7200122/person-of-the-year-2024-shortlist/">short list </a>for this year's Person of the Year award included Trump, Harris, Kate Middleton, Elon Musk and Benjamin Netanyahu. Prior to narrowing the field to five finalists, Jerome Powell, Yulia Navalnaya, Joe Rogan, Claudia Sheinbaum and Mark Zuckerberg were also under consideration.
TIME has also been handing out additional awards in recent years. Caitlin Clark was named the Athlete of the Year by the media outlet. Elton John was named this year's Icon of the Year and Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) Lisa Su was named CEO of the Year.
Did You Know?
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent121124">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
 Why It's Important: The TIME Person of the Year has named politicians, world leaders, celebrities and CEOs winners of the annual award. The award is not always given to a good person, but instead to the person who had the biggest affect on the things that happened in the past year.
Past wins by Adolf Hitler and Joseph Stalin have often been used to show the lack of importance of the award.
Trump has been critical of the award in the past and upset that he did not receive it on several occasions.
In 2013, Trump said the annual award was "a joke and stunt of a magazine that, like Newsweek, soon be dead."
Later in 2015 when he was a finalist on the list, Trump was critical for not making the cover over then-German Chancellor Angela Merkel.
"It means a lot, especially me growing up reading Time magazine. And you know, it's a very important magazine," Trump said at the time.
Coincidentally, the Trump prosecutors were among the finalists for last year's award, along with Altman, Swift, Vladimir Putin, Barbie, the Hollywood strikers, Xi Jinping, Powell and King Charles III.
Trump was the betting favorite on prediction sites like <a href="https://kalshi.com/markets/kxtime/times-person-of-the-year">Kalshi </a>and <a href="https://polymarket.com/event/time-2024-person-of-the-year?tid=1733870773380">Polymarket </a>with odds of around 80% prior to the Wednesday report that he was the winner of the award. Trump's odds stand at 99% on Kalshi and 98% on Polymarket at the time of writing.
Some may be upset that Musk, the CEO of Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), didn't win this year's award with the surge in Tesla's stock price and his soaring wealth thanks to other ventures like xAI and SpaceX.
Musk <a href="https://www.benzinga.com/markets/cryptocurrency/21/12/24568117/elon-musk-named-times-2021-person-of-the-year">won the award </a>in 2021. The billionaire and his supporters will likely be pleased that the presidential candidate he endorsed in the 2024 election won the award, if it had to go to someone else.
Read Next: 
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<li><a href="https://www.benzinga.com/news/management/24/12/42444955/elon-musk-first-person-worth-400-billion-as-tesla-stock-hits-new-all-time-highs-how-2024-election-helped-could-lead-to-future-gains">Elon Musk First Person Worth $400 Billion As Tesla Stock Hits New All-Time Highs: How 2024 Election Helped, Could Lead To Future Gains</a></li>
</ul>
Photo: Shutterstock

Media

TSLA

Donald Trump To Be Named TIME Person Of The Year, Beating Out Harris, Musk, Middleton, Netanyahu: Report

United Rentals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/URI#NYSE">URI</a>) has outperformed the market over the past 20 years by 12.39% on an annualized basis producing an average annual return of 20.86%. Currently, United Rentals has a market capitalization of $52.30 billion. 
Buying $1000 In URI: If an investor had bought $1000 of URI stock 20 years ago, it would be worth $44,031.49 today based on a price of $796.97 for URI at the time of writing.
<h3>United Rentals's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1733957108_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In This Stock 20 Years Ago Would Be Worth This Much Today

Mastercard (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>) has outperformed the market over the past 15 years by 10.67% on an annualized basis producing an average annual return of 22.72%. Currently, Mastercard has a market capitalization of $490.53 billion. 
Buying $1000 In MA: If an investor had bought $1000 of MA stock 15 years ago, it would be worth $21,690.34 today based on a price of $534.45 for MA at the time of writing.
<h3>Mastercard's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1733956218_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $1000 In This Stock 15 Years Ago, You Would Have This Much Today

The U.S. airline industry is gearing up for a blockbuster year in 2025, Morgan Stanley analysts say, predicting airline companies on the brink of what could be a &#8220;perfect storm of tailwinds that essentially propels the <a href="https://www.benzinga.com/topic/airlines">industry to make money.&#8221;</a>
Equity analyst Ravi Shanker reiterated a bullish stance on the airlines industry in a Wednesday note. 
The U.S. Global Jets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JETS#NYSE">JETS</a>) has rallied 36% year-to-date, outperforming by about 9 percentage points the broader stock market as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>). 
<h3 class="wp-block-heading">Premium Carriers Poised For Another Stellar Year </h3>
&#8220;We expect demand to remain resilient with volume growth,&#8221; Shanker said. Legacy carriers like United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) and Delta Air Lines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) are reaping the rewards of what analysts call "the premiumization trend,&#8221; he added.
According to Morgan Stanley, these carriers benefit not just from ticket sales but from steady ancillary revenue streams, including loyalty programs, credit cards, and brand partnerships.
In 2024, UAL's stock soared over 150%, leading Morgan Stanley to raise its price target from $88 to $130. However, the extraordinary run places a high bar for further gains. 
Alaska Air Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>) climbed to Morgan Stanley's top pick for 2025, with an upgraded price target of $90 on the back of "upsized synergy targets at their recent Investor Day."
<h3 class="wp-block-heading">Domestic Airlines Eye A Comeback</h3>
While premium carriers dominated in 2024, several domestic-focused airlines are staging a resurgence. Low-cost and ultra-low-cost carriers, including JetBlue Airways Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) and Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>), faced a tough year marked by operational challenges and restructuring efforts.
"The other big shift in 2024 was several domestic carriers fundamentally changing their business models to fly less, fly differently, bundle fares, and move upmarket," Morgan Stanley highlighted. 
As these carriers stabilize operations, easier year-over-year comparisons position them for a strong recovery. 
Morgan Stanley resumed coverage of JBLU at &#8216;Equalweight&#8217; with a 12-month price target of $8. 
&#8220;We like the elements of the JetForward plan but note that the turnaround is likely to be slower with more elements outside of management&#8217;s control than other Domestic peers,&#8221; Shanker wrote.
<h3 class="wp-block-heading">Industry Metrics Flash Green For 2025</h3>
Morgan Stanley expects 2025 to mark the first sustained period where revenue per available seat mile (RASM) exceeds cost per available seat mile (CASM). 
This dynamic is expected to boost margins across the board, a stark reversal from earlier pandemic years. 
Analysts project mid-single-digit (MSD) volume growth for the industry, supported by constrained capacity growth at low-single-digit (LSD) levels​.
Fueling optimism is a favorable jet fuel environment. Prices are forecast to hover in the low $2 per gallon range through 2026, providing airlines with critical cost stability. "
This is the sweet spot of the industry where pricing can drop through to the bottom line while offering an added incentive for capacity to remain rational," Morgan Stanley wrote in the note​.
<h3 class="wp-block-heading">Investor Sentiment: Opportunities And Risks</h3>
Despite 2024's strong performance, airline valuations remain compelling. Analysts note that stocks like ALK, AAL, and DAL trade below historical earnings multiples, offering attractive upside potential. 
Yet, risks loom, including macroeconomic headwinds and the possibility of a slowdown in consumer spending in the second half of 2025.
Morgan Stanley also flagged the return of institutional investors as a positive catalyst. "The potential return of large, sticky capital bases for the first time in 10 years could set another leg or three in the stocks' run in 2025," Shanker said​.
Now Read: 
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42444498/bank-of-america-raises-bullish-outlook-on-us-brokers-exchanges-alternative-investments-3-top-picks-for-2025">Bank Of America Raises Bullish Outlook On US Brokers, Exchanges, Alternative Investments: 3 Top Picks For 2025</a></li>
</ul>
Image: Best Airports 2024 &#x7C; Image generated using Dall-E

Analyst Color

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Mid Cap

Broad U.S. Equity ETFs

Price Target

Reiteration

Travel

Econ #s

Analyst Ratings

JBLU

JETS

US Airlines Set To Fly High In 2025, Analyst Says: 'Perfect Storm Of Tailwinds' Will Propel Industry Gains

Management

Valley National Bancorp Says Thomas Iadanza Has Notified His Intention To Retire From His Position As President Effective June 30, 2025

Ross Stores (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROST#NASDAQ">ROST</a>) has outperformed the market over the past 20 years by 4.43% on an annualized basis producing an average annual return of 12.9%. Currently, Ross Stores has a market capitalization of $51.31 billion. 
Buying $100 In ROST: If an investor had bought $100 of ROST stock 20 years ago, it would be worth $1,120.06 today based on a price of $153.83 for ROST at the time of writing.
<h3>Ross Stores's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1733955307_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ROST

$100 Invested In Ross Stores 20 Years Ago Would Be Worth This Much Today

On December 9, 2024, Telomir entered into a Stock Purchase Agreement with a certain accredited investor, pursuant to which the Company issued 142,857 shares of common stock at a price of $7 per share for a total of $1 million, a 20% premium to the closing price of the Company's common stock on the date of the transaction.&nbsp;
The transaction did not involve the issuance of any warrants. This transaction follows a $5 million non-dilutive line of credit extended to the Company earlier this year by the same accredited investor, which remains undrawn to date.

Offerings

TELO

Telomir Pharmaceuticals Raises $1M At $7 Per Share In No-warrant, Restricted Common Stock Deal - Filing

Chewy Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) shares are moving lower in Wednesday&#8217;s after-hours session after the company announced a public offering by a selling stockholder and a <a href="https://www.benzinga.com/pressreleases/24/12/b42448132/chewy-inc-announces-public-offering-of-class-a-common-stock-by-selling-stockholder-and-concurrent-">concurrent share repurchase</a>.
What Happened: After the market close on Wednesday, Chewy announced an underwritten public offering of&nbsp;$500 million&nbsp;of its common stock, being sold by Buddy Chester Sub LLC, an entity affiliated with funds advised by Chewy&#8217;s largest shareholder&nbsp;BC Partners Advisors.
The selling stockholder plans to grant the underwriters a 30-day option to purchase up to an additional $75 million of Chewy common stock. Chewy will not be selling any shares in the offering, and will not receive any proceeds. 
In connection with the offering, Chewy agreed to purchase $50 million of its common stock at the same price paid by the underwriters in the offering. The repurchased shares will be retired upon completion. The concurrent repurchase was approved by a special committee of Chewy&#8217;s board.
Check This Out: <a href="https://www.benzinga.com/news/large-cap/24/12/42447567/magnificent-seven-tech-titans-hit-182-trillion-market-cap-alphabet-amazon-apple-meta-tesla-jointly-notch-all-time-highs">Magnificent Seven Tech Titans Hit $18.2 Trillion Market Cap: Alphabet, Amazon, Apple, Meta, Tesla Jointly Notch All-Time Highs</a>
Chewy shares are up approximately 37% year-to-date. The rally in the pet retailer&#8217;s stock accelerated over the summer after meme stock trader&nbsp;Keith Gill,&nbsp;also known as&nbsp;&#8220;Roaring Kitty,&#8221;&nbsp;announced a stake in the company. 
Gill <a href="https://www.benzinga.com/news/24/10/41614177/roaring-kitty-puts-chewy-stock-in-the-litter-box-gamestop-shares-move-higher-after-hours">sold his entire stake</a> in Chewy a few months later. Chewy shares fell on the news, but the selloff was short-lived. Chewy had been Gill's only other publicly known investment outside of GameStop Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>), which has seen increased attention in recent months.
GameStop and several other meme stocks popped last week after Gill <a href="https://www.benzinga.com/general/social-media/24/12/42349100/gamestop-rockets-as-roaring-kitty-returns-to-x-what-does-his-tweet-signal-ahead-of-q3-earnings">posted an image</a> of a TIME magazine cover featuring a blank computer screen and a video player paused at the 1:09 mark of a 4:20-long video. Chewy shares traded lower on the post.
Chewy reported mixed quarterly financials last week, beating on earnings but missing on revenue. The company guided for fourth-quarter revenue of $3.18 billion to $3.2 billion versus estimates of $3.17 billion.
Following the print, Goldman Sachs lifted its <a href="https://www.benzinga.com/analyst-stock-ratings">price target</a> to $40, RBC Capital raised its target to $42 and JPMorgan maintained an Overweight rating and moved its price target up to $38.
CHWY Price Action: Chewy shares were down 2.92% in after-hours, trading at $31.59 at the time of publication Wednesday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Courtesy of Chewy.

After-Hours Center

CHWY

Chewy Stock Slides As Investors Digest $500M Offering From Largest Shareholder

Net revenues were RMB59.6 million ($8.5 million), compared with net revenues of RMB45.1 million in the third quarter of 2023.
 &nbsp;

17 Education & Technology Q3 Sales $8.5M, Up From Prior Year

The award of this project, expected to generate approximately $100 million in revenue, is from a new customer based in New South Wales, a region that is also new to MacKellar, reflecting our objective of geographic and customer diversification. The project is set to begin in the first quarter of 2025 and completion is scheduled for the second quarter of 2026.&nbsp;

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