UVA Unconstrained Medium-Term Fixed Income ETF (ARCA: FFIU)

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UVA Unconstrained Medium-Term Fixed Income ETF

Fieldstone UVA Unconstrained Medium-Term Fixed Income ETF

Sarclisa&nbsp;accepted for FDA priority review for the treatment of transplant-ineligible newly diagnosed multiple myeloma
<ul>
<li>FDA Priority Review granted based on positive results from IMROZ phase 3 study</li>
<li>If approved, Sarclisa would be the first anti-CD38 therapy in combination with standard-of-care treatment for patients with newly diagnosed transplant-ineligible multiple myeloma</li>
<li>Pivotal IMROZ phase 3 study results to be featured during oral presentation at the 2024 American Society of Clinical Oncology (ASCO) Annual Meeting</li>
</ul>

News

Reported Monday, Sanofi's Sarclisa Accepted For FDA Priority Review For Treating Transplant-Ineligible Newly Diagnosed Multiple Myeloma

&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4175930-1&amp;h=170106193&amp;u=https%3A%2F%2Fwww.hughes.com%2Fwho-we-serve%2Fby-service-provider%2Faeronautical-mobility-provider&amp;a=Hughes+Network+Systems" target="_blank">Hughes Network Systems</a>, LLC (HUGHES), an EchoStar Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATS#NASDAQ">SATS</a>), unveiled its groundbreaking Low Earth Orbit (LEO) Electronically Steerable Antenna (ESA) for In-Flight Entertainment &amp; Connectivity (IFEC) at the Aircraft Interiors Expo (AIX). This state-of-the-art technology is poised to transform the aviation industry by providing enterprise-grade, low latency, high-speed connectivity for global commercial aviation.

SATS

EchoStar Owned Hughes Network Systems Showcased Low Earth Orbit (LEO) Electronically Steerable Antenna (ESA) for In-Flight Entertainment & Connectivity (IFEC) at the Aircraft Interiors Expo (AIX)

&nbsp;Collins Aerospace, an RTX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) business, and Panasonic Avionics Corporation (Panasonic Avionics) today jointly unveiled MAYA, a transformative vision for a next-generation business class suite at the 2024 Aircraft Interiors Expo in&nbsp;Hamburg, Germany.
MAYA combines Collins Aerospace and Panasonic Avionics respective expertise in design, technology development and integration into a singular integrated solution, providing a clear differentiator for the business class cabin by redefining comfort, passenger immersion, accessibility and sustainability for the future air travel experience.
MAYA combines Collins Aerospace and Panasonic Avionics respective expertise in design, technology development and integration into a singular integrated solution, providing a clear differentiator for the business class cabin by redefining comfort, passenger immersion, accessibility and sustainability for the future air travel experience.

RTX's Collins Aerospace and Panasonic Avionics Launch MAYA At The 2024 Aircraft Interiors Expo in Hamburg, Germany For Luxury Travel Experience

&nbsp;Nasdaq (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDAQ#NASDAQ">NDAQ</a>) and FIA Tech today announced they will partner to help reduce the complexity of post trade data processing across the exchange traded derivative market. Nasdaq will integrate its strategic clearing platform, Nasdaq Real-Time Clearing, into FIA Tech&#39;s Trade Data Network.

NDAQ

Nasdaq and FIA Tech Partner For Better Post Trade Infrastructure

Former SEC Chair Jay Clayton, noted that trading of Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) spot ETFs in the U.S. was a foregone conclusion.&nbsp;
What Happened: In an <a href="https://youtu.be/C0ROINGfiaI">interview </a>with CNBC, Clayon dissected the approval process for the investment avenues.&nbsp;
&#8220;There's the listing approval, which is what happened yesterday [on May 23rd], and then there's the approval of the product itself, which is still pending,&#8221; the ex-SEC chief explained.
&#8220;I think it&#8217;s inevitable,&#8221; Clayton responded to a query from the interviewer regarding the possibility of trading Ethereum ETFs. "The question that was decided [on May 23rd], to speak technically, is that this market is efficacious enough for this product to be listed on the exchange, but there are other questions out there."
Why It Matters: The former SEC Chair&#8217;s words <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36548891/former-sec-chair-jay-clayton-says-bitcoin-etf-approval-is-inevitable-theres-nothing-left-t">are reminiscent of his prediction earlier this year </a>when he deemed Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) spot ETF approvals "inevitable," two days before the eventual listing. 
The SEC <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38995513/sec-approves-spot-ethereum-etfs-opening-door-for-mainstream-investors">approved spot Ether ETFs last week</a>, giving a significant boost to the effort to mainstream the second-largest cryptocurrency in the United States.
Drawing parallels with Bitcoin's trajectory post its ETF approval, cryptocurrency market researcher Kaiko anticipated a similar infusion of bullish strength into Ether.&nbsp;
<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">Is <a href="https://twitter.com/hashtag/ETH?src=hash&amp;ref_src=twsrc%5Etfw">#ETH</a> headed for a bull run? In a surprising turnaround, the SEC approved the first spot ETH <a href="https://twitter.com/hashtag/ETFs?src=hash&amp;ref_src=twsrc%5Etfw">#ETFs</a> last week, triggering more than 25% in gains for the second largest crypto asset. Check out our latest Data Debrief for the full trend&#x1f447;<a href="https://t.co/l3I4isZVjx">https://t.co/l3I4isZVjx</a>
&mdash; Kaiko (@KaikoData) <a href="https://twitter.com/KaikoData/status/1795101676870795753?ref_src=twsrc%5Etfw">May 27, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Price Action: At the time of writing, ETH was trading at $3,846.29, down 1.62% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/39032332/mt-goxs-2-9b-bitcoin-transfer-spooks-traders-big-dip-incoming">Mt. Gox&#8217;s $2.9B Bitcoin Transfer Spooks Traders: Big Dip Incoming?</a>

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

Cryptocurrency

Markets

$BTC

$ETH

Former SEC Chief Predicts Inevitable Trading Of Ethereum Spot ETFs In US; Market-Data Provider Draws Parallels With Bitcoin's Post-ETF Success

Gogo Business Aviation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOGO#NASDAQ">GOGO</a>) today announced it is partnering with ALAMO Engineering GmbH to develop a European Supplemental Type Certificate (STC) for the&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4176152-1&amp;h=963777950&amp;u=https%3A%2F%2Fwww.gogoair.com%2Fgalileo%2F%3Futm_source%3Dgogo%26utm_medium%3Dpressrelease%26utm_campaign%3DBRND_Q224_galileo%26utm_content%3Dweb&amp;a=Gogo+Galileo" target="_blank">Gogo Galileo</a>&nbsp;HDX antenna for Cessna Citation Latitude midsize jets.

GOGO

Gogo Business Aviation Tapped ALAMO Engineering GmbH to Develop a European Supplemental Type Certificate for Gogo Galileo HDX Antenna for Cessna Citation Latitude Midsize Jets

In the overall trial population, survival results numerically favored Daiichi Sankyo and AstraZeneca&#39;s datopotamab deruxtecan but did not reach statistical significance 
	TROPION-Lung01 previously met the dual
<ul>
<li>In the overall trial population, survival results numerically favored Daiichi Sankyo and AstraZeneca&#39;s datopotamab deruxtecan but did not reach statistical significance</li>
<li>TROPION-Lung01 previously met the dual primary endpoint of progression-free survival in the overall trial population</li>
<li>Results support applications currently under review by regulatory authorities globally including the U.S. and EU</li>
</ul>

Reported Monday, Daiichi Sankyo And AstraZeneca's Datopotamab Deruxtecan Show Survival Improvement Versus Chemotherapy In Patients With Advanced Nonsquamous Non-Small Cell Lung Cancer In TROPION-Lung01 Phase 3 Trial

Earlier this month, Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) <a href="https://www.benzinga.com/news/24/05/38673436/apple-launches-ipad-pro-with-m4-chip-oled-display-at-999-ipad-air-6-now-comes-in-two-sizes-for-the-f">launched its highly-anticipated</a>&nbsp;iPad Air 6&nbsp;and&nbsp;iPad Pro&nbsp;at the &#8220;Let Loose&#8221; event. The tech giant is now expecting a significant&nbsp;number of orders for its&nbsp;OLED iPad Pro.
What Happened:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38701300/apples-new-m4-ipads-more-powerful-than-any-ai-pc-today-set-to-boost-sales">Apple&#8217;s first OLED-screen tablet</a>, the iPad Pro, reportedly has a shipment target exceeding 9 million units. This is particularly significant considering the recent decline in the overall IT device market, <a href="https://www.digitimes.com/news/a20240527PD211/apple-oled-ipad-pro-shipments.html">reported</a> DigiTimes.
With the new iPad Pro 11-inch and 13-inch, Apple has switched from mini-LED to OLED panels, providing enhanced contrast and brightness. Moreover, the new iPad Pro runs on the M4 chip, specifically designed for AI from scratch.
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.
Research firm Omida predicts&nbsp;that the OLED shipment volume&nbsp;for tablets could reach 12.1 million units, with approximately 8.12 million units being hybrid OLEDs, a technology currently exclusive to the iPad Pro.
While some market research firms estimate that the 2024 shipment volume of the OLED iPad Pro will range from 4.5 to 5 million units, South Korean industry sources suggest that Apple, LG Display (LGD), and Samsung Display (SDC) are maintaining their initial shipment targets for both finished iPad Pro products and panels. 
LGD is reportedly aiming to ship 5 million OLED units, while SDC&#8217;s target exceeds 4 million units, the report noted.
Why It Matters: This supports an earlier report from March, which indicated that Apple&#8217;s suppliers were preparing 8.5 million OLED panels for the iPad Pro. In January, the number was projected at 10 million OLED panels for 2028, but the order was reportedly reduced by two million, <a href="https://appleinsider.com/articles/24/05/27/oled-ipad-pro-screens-could-hit-9-million-shipments-in-2024?utm_medium=social&amp;utm_source=&amp;utm_medium=&amp;utm_campaign=RSS">according</a> to AppleInsider.
The anticipated surge in iPad Pro shipments comes amid a generally positive outlook for Apple&#8217;s tablet business. Previously, Deepwater Asset Management&#8217;s&nbsp;managing partner,&nbsp;Gene Munster&nbsp;also predicted a&nbsp;<a href="https://www.benzinga.com/news/24/05/38692648/apples-ipad-sales-to-get-a-nice-boost-this-year-but-expect-a-decline-in-2025-says-gene-munster">boost in iPad sales for 2024</a>, although he also forecasted a decline in 2025.
<a href="https://bztechtrends.beehiiv.com/p/will-new-ipads-reignite-tablet-market">According to IDC</a>, global tablet shipments reached their lowest point last year since 2011. This decline was largely attributed to the economic slowdown, project delays, spending restrictions, and consumers prioritizing other needs over electronic devices.
However, analysts now anticipate some potential for recovery in the tablet market, albeit with certain challenges.
Photo courtesy: Apple
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/05/38997483/elon-musk-who-acquired-twitter-for-44b-says-social-media-is-bad-for-kids-theyre-being-programmed-by?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk, Who Acquired Twitter For $44B, Says Social Media Is Bad For Kids: &#8216;They&#8217;re Being Programmed By A Dopamine-Maximizing AI&#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.

Tech

Media

AAPL

Apple's First OLED-Screen Tablet, The iPad Pro Targets 9M Shipments This Year: Report

Pursuant to the NCIB, TransAlta may repurchase up to a maximum of 14,000,000 Common Shares, representing approximately&nbsp;4.6%&nbsp;of the 303,256,652 Common Shares issued and outstanding as at May 27, 2024. Purchases under the NCIB may be made through open market transactions on the TSX and any alternative Canadian trading systems on which the Common Shares are traded, based on the prevailing market price. Any Common Shares purchased under the NCIB will be cancelled.

Reported Monday, TransAlta Announced Renewal of Normal Course Issuer Bid To Repurchase Up To 14M Common Shares

President Joe Biden&#8217;s <a href="https://www.benzinga.com/government/24/05/38978431/most-americans-think-economy-is-in-recession-under-biden-despite-hard-data-telling-different-story-w">poll prospects have been stymied by public perception of elevated inflation</a> and a sluggish economy despite the numbers telling an altogether different story. Nobel laureate and economist Paul Krugman on Monday weighed in on this conundrum.
What Happened: Krugman shared on X a chart showing consumer prices under Biden and former Republican President Ronald Reagan. The chart showed Biden starting his presidential tenure with a lower inflation than Reagan and boasting a lower inflation rate until the end of the first year.
In the subsequent months, inflation under the Biden regime was slightly higher than Reagan&#8217;s at similar points in their respective presidencies. And after 36 months, the consumer prices were beginning to converge.
Krugman commented on the chart, &#8220;For those saying that Americans are righteously angry because the level of prices is up even though the rate of inflation has fallen, a history lesson.&#8221;
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<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">For those saying that Americans are righteously angry because the level of prices is up even though the rate of inflation has fallen, a history lesson <a href="https://t.co/2n5zQS84aD">pic.twitter.com/2n5zQS84aD</a>
&mdash; Paul Krugman (@paulkrugman) <a href="https://twitter.com/paulkrugman/status/1795134482539819222?ref_src=twsrc%5Etfw">May 27, 2024</a></blockquote>
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<figcaption class="wp-element-caption"> See Also: <a href="https://www.benzinga.com/money/best-inflation-stocks">Best Inflation Stocks</a> Why It&#8217;s Important: The economic policy of Reagan, popularly called Reaganomics, has been deemed a success by most economists. Economists Jeffrey Eisenach and James Miller III <a href="https://www.hoover.org/research/reaganomics">called</a> Reagan&#8217;s reign a watershed presidency in a paper published on the website of the American public policy think tank Hoover Institution in 2004.</figcaption></figure>
&#8220;He launched the longest peacetime expansion in the American economy. Inflation, interest, and unemployment rates all fell. Other relevant indexes rose: employment, the labor force participation rate, and productivity,&#8221; they said in the paper. His go-to tool for achieving prosperity was to cut taxes, reduce social spending, increase military spending, and implement market deregulation.
Reagan served two terms as president, spanning from Jan. 20, 198, to Jan. 20, 1989. Inflation under the former president <a href="https://www.reaganfoundation.org/ronald-reagan/the-presidency/economic-policy/">fell</a> from 13.5% in 1980 to 4.1% by 1988, with the decline attributed mainly to fiscal restraint and reducing government spending, combined with tax reforms and deregulation.
The most recent numbers showed <a href="https://www.benzinga.com/markets/equities/24/05/38842603/us-inflation-falls-as-expected-in-april-bolsters-fed-rate-cut-bets">year-over-year rates of headline and core inflation at 3.4% and 3.6%, respectively, in April.</a> Thawing inflation below the Federal Reserve&#8217;s 2% upper ceiling is important as it would provide the central bank with the confidence to take down the Fed funds rate, which is currently at a 22-year high of 5.25%-5.50%.
The&nbsp;iShares TIPS Bond ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TIP#NYSE">TIP</a>),&nbsp;an ETF tracking the investment results of an index&nbsp;composed of inflation-protected U.S. Treasury bonds, ended Friday&#8217;s session up 0.12% at $106.44, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data.</a>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38991084/inflation-stresses-retail-traders-as-fed-cuts-look-unlikely-crypto-doubts-increase-survey">Inflation Stresses Retail Traders As Fed Cuts Look Unlikely, Crypto Doubts Increase: Survey</a>
Photo via Shutterstock

Analyst Color

Economics

Federal Reserve

Paul Krugman Schools Americans 'Righteously Angry' About Soaring Costs: Biden's Price Levels Mirror Reagan's Inflation Triumph

<ul>
<li>Global leader in passenger power for commercial airlines has delivered 350 shipsets of the UltraLite G2 USB system with 300 more shipsets scheduled for 2024</li>
<li>USB Type C system weighs&nbsp;30%&nbsp;to&nbsp;40%&nbsp;less supporting airline efforts to reduce carbon emissions</li>
</ul>

ATRO

Reported Monday, Astronics' EmPower UltraLite G2 USB Power System To Be Installed On 650 Aircraft By End Of Year

CGI intends to enter into a private agreement with CDPQ for the purchase for cancellation of 2,887,878 of its Class A subordinate voting shares (&quot;Class A Shares&quot;) held by CDPQ for a price of&nbsp;$138.51&nbsp;per Class A Share, which represents a discount to the closing price on&nbsp;May 27, 2024&nbsp;of the Class A Shares on the Toronto Stock Exchange (&quot;TSX&quot;).
The transaction will be made in connection with the periodic portfolio rebalancing of CDPQ. Once completed, CDPQ will continue to hold approximately 16.29 million Class A Shares, representing approximately&nbsp;7.15%&nbsp;of CGI&#39;s total outstanding shares.

Reported Monday, CGI Intends To Repurchase 2.89M Of Its Shares Held By CDPQ At $138.51 Per Share

CAE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAE#NYSE">CAE</a>) reported quarterly earnings of C$0.37 per share which missed the analyst consensus estimate of C$0.42 by 11.9 percent. This is a 12.12 percent increase over earnings of C$0.33 per share from the same period last year. The company reported quarterly sales of C$1.126 billion which missed the analyst consensus estimate of C$1.286 billion by 12.46 percent. This is a 5.93 percent decrease over sales of C$1.197 billion the same period last year.

Earnings

Earnings Misses

Reported Monday, CAE Q4 2024 Adj EPS C$0.37 Misses C$0.42 Estimate, Sales C$1.126B Miss C$1.286B Estimate

David Ricks, CEO of Eli Lilly and Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), expressed confidence in meeting the lofty revenue expectations set by Bank of America for the company&#8217;s upcoming drug launches. 
What Happened: During an interview on CNBC&#8217;s Last Call on Monday, Ricks described the potential market for these drugs after Bank of America analysts projected $60 billion in revenue from these drugs by 2030 in March. 
"I think it's possible," he said.
"It is in some ways kind of the mega market for health.&#8221;
Ricks highlighted that the company is trying to prove the efficacy of its drugs for not only weight loss but also obesity-driven diseases such as heart risks, diabetes, and sleep apnea. 
&#8220;We are showing now it&#8217;s not just a weight loss story; it&#8217;s a health story and as that expands, the consumption will continue to grow,&#8221; he added.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"I think it's possible," says <a href="https://twitter.com/EliLillyandCo?ref_src=twsrc%5Etfw">@EliLillyandCo</a> CEO David Ricks on Bank of America's sky-high revenue expectations for the pharmaceutical company's drug launches. "It is in some ways kind of the mega market for health." <a href="https://twitter.com/search?q=%24LLY&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LLY</a> <a href="https://t.co/stnGbVlMWC">pic.twitter.com/stnGbVlMWC</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1794153074484777171?ref_src=twsrc%5Etfw">May 24, 2024</a></blockquote>
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</figure>
See Also: <a href="https://www.benzinga.com/news/24/05/39026748/chinese-scientists-achieve-worlds-first-diabetes-cure-using-cell-therapy-report?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Chinese Scientists Achieve World&#8217;s First Diabetes Cure Using Cell Therapy: Report</a>
Why It Matters: The confidence of Eli Lilly&#8217;s CEO is underpinned by the company&#8217;s recent strategic moves, including its <a href="https://www.benzinga.com/general/biotech/24/05/39012514/eli-lilly-makes-largest-manufacturing-investment-in-its-history-to-boost-production-for-antidiabe">largest manufacturing investment to date, a massive $5.3 billion in Indiana</a> to enhace its production of Mounjaro and Zepbound. 
Moreover, analysts have been bullish on Eli Lilly, with some predicting the company is on its way to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38563149/eli-lilly-on-its-way-to-1-trillion-market-cap-analysts-say-its-a-have-in-a-sea-of-h">reaching a $1 trillion</a> market cap. They consider Eli Lilly a &#8220;have&#8221; in a market filled with &#8220;have nots,&#8221; suggesting a strong competitive position. 
Price Action: Eli Lilly closed 0.13% lower at $807.43 on Friday, according to <a href="https://pro.benzinga.com">Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/partner/health-care/24/05/39006472/web-3-0-could-revolutionize-the-future-of-healthcare-heres-how?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Web 3.0 Could Revolutionize The Future Of Healthcare – Here&#8217;s How</a>
Photo by rafapress on Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Biotech

Equities

Health Care

General

'Not Just A Weight Loss Story:' Eli Lilly CEO Thinks It's Possible To Meet BofA's $60B Revenue Projection From New Drug Launches

Reported Monday, CAE Received Regulatory Approval for Normal Course Issuer Bid To Repurchase Up To 15.9M Common Shares

The AI industry has seen its fair share of ups and downs, with some of the <a href="https://www.benzinga.com/news/24/04/38240620/potential-iphone-killer-humane-ai-pins-design-interface-inherently-flawed-says-gurman-can-merely-be">most anticipated hardware products</a> failing to meet expectations. Now,&nbsp;Iyo, a company that has been working on its AI earbuds for years, is ready to launch its product, the Iyo One, and is confident that it will succeed where others have failed.
What Happened: Similar to Humane and Rabbit, Iyo was founded before the current AI hype. The company&#8217;s origins go back to the pre-2019 era.
However, unlike Humane, which tried to create a brand new type of device with a lapel pin, Iyo is adding its technology to something very popular already: Bluetooth earbuds, <a href="https://techcrunch.com/2024/05/27/iyo-thinks-its-gen-ai-earbuds-can-succeed-where-humane-and-rabbit-stumbled/?guccounter=1">reported</a> TechCrunch.
When the Iyo One comes out this winter, the company can use the years of consumer experience with assistants like Alexa and Siri in headphones. Moving to advanced AI models is much easier than something like the Ai Pin, which needs a <a href="https://www.benzinga.com/news/24/04/38263133/mkbhd-bankrupted-a-company-in-41-seconds-tech-influencers-critique-of-humanes-ai-pin-stirs-debate">completely new way of thinking</a>.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/05/39025804/elon-musk-shares-hack-to-improve-google-search-quality-its-a-real-problem?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Shares Hack To Improve Google Search Quality: &#8216;It&#8217;s A Real Problem!&#8217;</a>
The company&#8217;s CEO,&nbsp;Jason Rugolo, believes that the Iyo One will be a success because of its unique features and the company&#8217;s focus on delivering immediate value to its customers.
The Iyo One will not&nbsp;require a monthly subscription fee unlike Humane Ai Pin, a model that Rugolo believes is not the best for customers. However, the cellular version will&nbsp;require users to sign up&nbsp;for a plan with their&nbsp;carriers, which is standard practice.
&#8220;That kind of model is really something that comes from venture,&#8221; Rugolo said, adding, &#8220;They try to drive the companies hard to get people locked in. I don't like that model. It's not the best for customers.&#8221; The Iyo One will be priced&nbsp;at $599 for the Wi-Fi&nbsp;model and $699 for the cellular version.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: While Humane generated significant <a href="https://in.benzinga.com/content/37383856/sam-altman-backed-humane-in-talks-with-indian-telcos-for-voice-and-gesture-controlled-ai-pin-launch?_gl=1&#x2A;1dpwiv0&#x2A;_ga&#x2A;MTYxMTYyNzk0OS4xNzA4NDc2ODY1&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNjg3MDk4NS4yOTcuMS4xNzE2ODcxNTgzLjAuMC4w">interest due to its founders&#8217; experience</a> at Apple, Iyo was created within Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google. The company originated in Alphabet X, the <a href="https://www.benzinga.com/news/23/06/33004148/alphabets-moonshot-factorys-new-venture-taara-delivers-light-beamed-internet-to-remote-regions">&#8220;moonshot factory&#8221; responsible</a> for projects like Glass and Project Loon. 
Iyo became an independent entity in 2021. Unlike other Alphabet X projects like Waymo, Wing, and Intrinsic, Iyo does not function as a subsidiary. Instead, Alphabet became Iyo&#8217;s first investor.
Previously, it was reported that Alphabet&#8217;s X lab is developing a device that aims to provide superhuman hearing. The project, codenamed &#8220;Wolverine,&#8221; was reportedly exploring the future of hearing with sensor-rich hardware, <a href="https://www.businessinsider.com/google-x-alphabet-hearing-project-wolverine-codename-augmented-reality-2021-3?international=true&amp;r=US&amp;IR=T">according</a> to Business Insider.
Meanwhile, The failure of Humane&#8217;s Ai Pin and Rabbit&#8217;s R1 has raised questions about the future of AI devices. Previously, it was reported that Humane&#8217;s co-founders have <a href="https://www.benzinga.com/news/24/05/38957035/game-over-for-humane-wearable-startup-behind-flop-ai-pin-said-to-be-hunting-for-potential-buyer-alre">put their startup on the market</a>, just a month after launching their product. 
Similarly, Rabbit&#8217;s R1, a generative AI-fueled handheld, was heavily <a href="https://www.benzinga.com/news/24/04/38512965/youtube-tech-reviewer-mkbhd-deems-rabbit-r1-barely-reviewable-after-humane-ai-pin-takedown-its-just">criticized and failed to meet expectations</a>.
Image: Shutterstock/ Magnetic Mcc
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/05/38997483/elon-musk-who-acquired-twitter-for-44b-says-social-media-is-bad-for-kids-theyre-being-programmed-by?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk, Who Acquired Twitter For $44B, Says Social Media Is Bad For Kids: &#8216;They&#8217;re Being Programmed By A Dopamine-Maximizing AI&#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.

GOOG

GOOGL

Humane, Rabbit Failed To Impress, Can Google-Backed Iyo's Gen AI Earbuds Succeed Where Others Stumbled?

Loretta Mester, the President of the Cleveland Federal Reserve, has suggested that Federal Reserve policy statements could be improved with more detailed explanations of economic assessments and their impact on the central bank&#8217;s outlook.
What Happened: Mester, who is due to retire next month, criticized the brevity of Federal Reserve policy statements under the leadership of Chair Jerome Powell, Reuters reported on Tuesday. During a conference at the Bank of Japan in Tokyo, she argued that these condensed statements can be problematic for policy-making in an uncertain economy. 
&#8220;Short statements suffer from what I call a &#8216;Hotel California&#8217; problem: We are reluctant to change particular words because of the possible signal that doing so may send,&#8221; she said, referencing the hit 1970s song by the Eagles. 
&#8220;Words &#8216;check in&#8217; but it is hard to get them to &#8216;check out&#8217; even when it is desirable.&#8221;
Mester suggested that detailed passages describing economic developments and their influence on the central bank&#8217;s outlook could enhance Federal Reserve policy statements.
See Also: <a href="https://www.benzinga.com/markets/equities/24/05/39004999/wall-street-on-track-to-rebound-as-traders-train-eyes-on-key-data-ahead-of-long-weekend-analyst-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nasdaq, S&amp;P 500 Futures Signal Rebound In Week&#8217;s Final Trading Session</a>
Mester also proposed the introduction of an &#8220;anonymized matrix&#8221; of economic and policy projections alongside the Summary of Economic Projections (SEP) published each quarter. This would allow market participants to see the correlation between each participant's outlook and their view of appropriate monetary policy associated with that outlook.
Why It Matters: Mester&#8217;s recommendations come in anticipation of a planned monetary policy framework review that Powell has announced will commence later this year and likely continue into 2025. She expects that the Fed will consider its communication strategy as part of this review.
Earlier this month, the Federal Reserve adopted a <a href="https://www.benzinga.com/economics/macro-economic-events/24/05/38584705/federal-reserve-takes-cautious-stand-on-inflation-powell-signals-preference-for-r">cautious stance on inflation</a>, with Powell signaling a preference for rate cuts over hikes. However, the Fed minutes released later in the month <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38972863/fed-minutes-raise-risk-of-higher-for-longer-interest-rates-bears-would-normally-get">raised the risk of &#8220;higher-for-longer&#8221; interest rates.</a>
Read Next: <a href="https://www.benzinga.com/markets/equities/24/05/38993436/vix-spikes-dow-sinks-as-inflation-jitters-slaughter-fed-easing-hopes-traders-now-price-in-only-o?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">VIX Spikes, Dow Sinks As Inflation Jitters Slaughter Fed Easing Hopes: Traders Now Price In Only One Rate</a>
Photo courtesy: Federal Reserve.
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Government

Macro Economic Events

Powell's Fed Stuck In 'Hotel California?' Cleveland Chief Calls For Detailed Policy Remarks: 'Words Check In But It Is Hard To Get Them To Check Out'

With U.S. stock futures trading higher this morning on Tuesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Box, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) to report quarterly earnings at 36 cents per share on revenue of $262.04 million after the closing bell, according to data from Benzinga Pro. Box shares gained 0.3% to $25.34 in after-hours trading.</li>
<li>Gildan Activewear Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIL#NYSE">GIL</a>) named Glenn J. Chamandy as President and CEO, effective immediately. The company also appointed Michael Kneeland as non-executive Chair of the Board. Gildan Activewear shares fell 1.6% to $37.02 in the after-hours trading session.</li>
<li>Analysts are expecting Elbit Systems Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESLT#NASDAQ">ESLT</a>) to post quarterly earnings at $1.35 per share on revenue of $1.46 billion. The company will release earnings before the markets open. Elbit Systems shares rose 1.2% to $201.00 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>GameStop Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) announced it has completed its at-the-market equity offering program, which was previously announced. The company sold 45 million shares under the plan with aggregate gross proceeds of $933.4 million. GameStop shares jumped 13.1% to $21.49 in the after-hours trading session.</li>
<li>Analysts expect HEICO Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HEI#NYSE">HEI</a>) to post quarterly earnings at 81 cents per share on revenue of $951.21 million after the closing bell. HEICO shares gained 0.2% to $217.74 in after-hours trading.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/05/39007136/jim-cramer-says-this-basic-materials-stock-is-too-dicey-shares-his-take-on-arista-networ">Jim Cramer Says This Basic Materials Stock Is &#8216;Too Dicey,&#8217; Shares His Take On Arista Networks</a>

Pre-Market Outlook

Trading Ideas

ESLT

GameStop, Box And 3 Stocks To Watch Heading Into Tuesday

The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index remained in the &#8220;Neutral&#8221; zone on Friday.
U.S. stocks settled mostly higher on Friday, with the Nasdaq index settling at a fresh record high during the session. The tech-heavy Nasdaq also outperformed last week recording a gain of 1.41%. However, the Dow Jones index declined 2.33% last week, recording its first negative week in five.
Traders are seeing less than a 50% chance that the US Federal Reserve will slash interest rates at its September meeting.
NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares gained around 2.6% on Friday after the company reported better-than-expected financial results for its first quarter and issued strong guidance for the second quarter. Deckers Outdoor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>) shares jumped over 14% after the company reported better-than-expected quarterly financial results.
On the economic data front, U.S. durable goods orders increased by 0.7% month-over-month in April compared to a revised 0.8% gain in March. However, markets were expecting for a 0.8% decrease.
Most sectors on the S&amp;P 500 closed on a positive note, with utilities, information technology and communication services stocks recording the biggest gains on Friday. However, health care stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 4 points to 39,069.59 on Friday. The S&amp;P 500 rose 0.70% at 5,304.72, while the Nasdaq Composite climbed 1.10% at 16,920.79 during Friday's session.
Investors are awaiting earnings results from Elbit Systems Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESLT#NASDAQ">ESLT</a>), Box, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) and HEICO Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HEI#NYSE">HEI</a>) today.
At a current reading of 53.1, the index remained in the &#8220;Neutral&#8221; zone on Friday, versus a prior reading of 52.3.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/05/39007136/jim-cramer-says-this-basic-materials-stock-is-too-dicey-shares-his-take-on-arista-networ">Jim Cramer Says This Basic Materials Stock Is &#8216;Too Dicey,&#8217; Shares His Take On Arista Networks</a>

DECK

NVDA

Investor Optimism Improves, Nasdaq Settles At Record High

HEICO Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HEI#NYSE">HEI</a>) is set to release earnings results for its second quarter, after the <a href="https://www.benzinga.com/quote/HEI/earnings">closing bell on May 28</a>.
Analysts expect the Hollywood, Florida-based company to report quarterly earnings at 81 cents per share, up from 76 cents per share in the year-ago period. HEICO is projected to report quarterly revenue of $951.21 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Feb. 26, Heico reported better-than-expected first-quarter financial results.
HEICO shares rose 0.7% to close at $217.31 on Friday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/HEI/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Deutsche Bank analyst Scott Deuschle maintained a Buy rating and raised the price target from $209 to $235 on May 21. This analyst has an accuracy rate of 72%.</li>
<li>Stifel analyst Bert Subin maintained a Buy rating and boosted the price target from $215 to $230 on May 6. This analyst has an accuracy rate of 65%.</li>
<li>RBC Capital analyst Ken Herbert reiterated an Outperform rating with a price target of $225 on Feb. 28. This analyst has an accuracy rate of 68%.</li>
<li>B of A Securities analyst Ronald Epstein upgraded the stock from Neutral to Buy with a price target of $220 on Jan. 25. This analyst has an accuracy rate of 62%.</li>
<li>Truist Securities analyst Michael Ciarmoli maintained a Buy rating and raised the price target from $190 to $229 on Dec. 20, 2023. This analyst has an accuracy rate of 79%.</li>
</ul>
Read This Next: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/05/39007136/jim-cramer-says-this-basic-materials-stock-is-too-dicey-shares-his-take-on-arista-networ">Jim Cramer Says This Basic Materials Stock Is &#8216;Too Dicey,&#8217; Shares His Take On Arista Networks</a>

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