Fidelity Magellan ETF (BATS:FMAG), Trade Ideas

Fidelity Magellan ETF

The new solution adds an Operator Connect option powered by 8x8&#39;s leading Global ReachTM&nbsp;network to provide reliable calling, streamlined deployment, and simplified management to increase admin efficiency for Microsoft Teams Phone customers.

News

Tech

General

EGHT

8x8 Launches Operator Connect For Microsoft Teams To Streamline Reliable Telephony Deployment

Netevia a leading fintech company known for its innovative banking services, has announced a strategic partnership with BLUbeem by Brink&#39;s, a product brand of The Brinks Company, a leading provider of cash and valuables management, digital retail solutions, and ATM Managed Services.

Restaurants

Netevia And BLUbeem By Brink's Partner To Enhance Financial Offerings For Retail and Hospitality Industries

INOVIO&nbsp;Pharmaceuticals announced the pricing of an underwritten offering of 2,536,258 shares of its common stock at an offering price of&nbsp;$7.693&nbsp;per share and pre-funded warrants to purchase 2,135,477 shares of its common stock at an offering price of&nbsp;$7.692&nbsp;per pre-funded warrant, in each case before underwriting discounts and commissions.&nbsp;

Reported Earlier, INOVIO Prices $36M Underwritten Offering Of 2,536,258 Common Stock At $7.693/Share

GLP,&nbsp; global real estate logistics provider and investment manager, is leveraging&nbsp;<a href="https://www.globenewswire.com/Tracker?data=MmYGyFjFvh2F_nl_4rphL5R-WyFB9N5ebzHSIbg1JG70An_TSGxkqyidW9tdM0_NYdY1_erXvkpQdWA0yKHFZvyAg4d2gAPXod6quRPSztlzskGIPWrROcOc8BxKP00d" target="_blank">Zscaler for Users</a>, part of the AI-powered Zscaler Zero Trust Exchange&trade;&nbsp;cloud security platform, to further strengthen its cybersecurity practice across its portfolio. GLP determined the security limitations and risk associated with their legacy security stack built on VPNs was not able to protect their users, data and applications from the increase in sophisticated cyber attacks. 
&nbsp;

Zscaler Selected By GLP To Accelerate Its Cloud Security Transformation Journey

<ul>
<li>NBI-1117568 is an oral, selective muscarinic M4 receptor agonist advancing through Phase 2 clinical development under a multi-program collaboration with Neurocrine Biosciences</li>
<li>Successful completion of a long-term preclinical toxicity program to support safe, chronic dosing of NBI-1117568 in future clinical trials triggers a&nbsp;$15 million&nbsp;payment to Nxera from Neurocrine Biosciences</li>
</ul>

NBIX

Nxera Pharma's NBI-1117568, Backed by Neurocrine Biosciences, Successfully Completes Long-Term Preclinical Toxicity Program

Donald Trump became the <a href="https://www.benzinga.com/general/politics/24/04/38261008/donald-trump-argues-political-prosecution-before-jury-selection-in-new-york-trial-judge-not-goin">first former president in history to be tried for criminal charges,</a> and his niece, Mary Trump, a clinical psychologist, on Monday took stock of the happenings on the first day of the hush-money trial.
Trial Starts Off With Setbacks: Acting Justice of the New York Supreme Court Juan Merchan turned down Donald Trump&#8217;s request to recuse himself, with the judge stating that the defense team&#8217;s request was based on &#8220;series of inferences, innuendos, and unsupported speculation,&#8221; Mary Trump said. 
Unlike Judge Aileen Cannon of the U.S. District Court for the Southern District of Florida, who is overseeing Donald Trump&#8217;s federal criminal case related to the mishandling of classified documents, Judge Merchan has shown that he is committed to the rule of the law, she said. Judge Cannon was nominated and confirmed by the former president and she has drawn flak for intentionally delaying the case, reports say.
The former president&#8217;s niece also noted that his narrative that President Joe Biden is sleepy is undermined, because he himself was caught napping at one point in Monday&#8217;s trial.
To make matters worse, Judge Merchan warned that Donald Trump would be sent to jail if he disrupted court proceedings, Mary Trump said. &#8220;This is a great sign that Merchan will treat Donald like any other criminal defendant, and not give him any special treatment,&#8221; she added.
Prosecutors accused the former president of violating the gag order and asked the judge to impose penalties and a monetary fine for every Truth Social post that breached the gag order, the psychologist said. They also argued that if he continues to violate the gag order, he should be sent to jail, she said, adding that Merchan has granted the request and a hearing on it would take place on April 23.
Mary Trump noted that the first day of the trial ended without selecting a single juror. 
See Also: <a href="https://www.benzinga.com/news/24/04/38243808/bidens-job-approval-surge-nears-critical-level-for-sealing-2024-election-victory-but-this-key-concer">Biden&#8217;s Job Approval Surge Nears Critical Level For Sealing 2024 Election Victory But This Key Concern Threatens To Derail His Bid: New Poll</a>
Other Pushbacks: Donald Trump&#8217;s media company stock Trump Media &amp; Technology Group Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) stock plummeted on Monday as he was battling in the courtroom, Mary Trump said. The stock was down a steep 18.35% at $26.61 at the close, according to Benzinga Pro data. It closed the day just off the lows of the session. Broader market negativity and a filing for a <a href="https://www.benzinga.com/news/24/04/38248348/trump-media-technology-group-stock-is-tumbling-monday-whats-going-on">secondary sale of shares dragged the stock sharply lower.</a>
Since it began trading as a public company following its merger with SPAC Digital World Acquisition Corp. on March 26, it has lost about 54%,
Mary Trump also noted that Biden has increased his lead from a mere one point in March to four points in April, according to a new Reuters/IPSOS poll. &#8220;This noticeable shift in public opinion is significant, particularly considering that Donald was ahead of Biden by five points in a poll conducted in January,&#8221; Mary Trump said. 
The presidential candidate&#8217;s courtroom conduct and the outcome of the trial could all sway public opinion, she said.
&#8220;Donald is finally confronting his criminal charges,&#8221; she said, adding that his &#8220;mandatory presence each day will give the jury a front-row seat of his bad behavior.&#8221;
Read Also: <a href="https://www.benzinga.com/money/best-social-media-stocks">Best Social Media Stocks</a>
Image via Shutterstock

Politics

Media

Trump's Niece Says Ex-President's Mandatory Courtroom Presence Will Give Jury Front-Row Seat Of His Bad Behavior: 'Donald Is Finally Confronting His Criminal Charges'

<div>Amundi US to combine into Victory Capital</div>
<div>Amundi to become a strategic shareholder of Victory Capital</div>
<div>Reciprocal 15-year exclusive distribution agreements</div>

VCTR

Amundi And Victory Capital To Forge Strategic Alliance, Broadening US Investment Opportunities

Tesla Inc.(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO&nbsp;Elon Musk&nbsp;has seemingly indicated a strategic shift, after laying off over&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38244436/breaking-tesla-said-to-be-laying-off-over-14-000-employees" rel="noreferrer noopener">10% of the company&#8217;s global workforce</a>, by liking a social media post suggesting he&#8217;s re-entering &#8220;wartime CEO&#8221; mode.
What Happened:&nbsp;Following reports of the layoffs, a user named&nbsp;Chris Zheng, who identifies as a Tesla enthusiast and a creative content creator from Shanghai, posted that Musk was re-entering &#8220;wartime CEO mode&#8221; and focusing the company entirely on its robotaxi project.&nbsp;
Zheng included a screenshot of his prediction, supposedly made hours before news of the layoffs broke.
&#8220;I told you that Elon has re-entered wartime CEO mode. This scene is familiar to the veterans of the Tesla community. Today Elon decided to bet the entire company on Robotaxi. I don't know if all in Robotaxi is right or wrong. I don't have the answer,&#8221; Zheng posted.
Musk &#8220;liked&#8221; Zheng&#8217;s post, which could be interpreted as a sign of agreement.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I told you that Elon has re-entered wartime CEO mode. This scene is familiar to the veterans of the Tesla community. Today Elon decided to bet the entire company on Robotaxi. I don't know if all in Robotaxi is right or wrong. I don't have the answer. <a href="https://t.co/mjVUamcbrb">pic.twitter.com/mjVUamcbrb</a>
&mdash; Chris Zheng (@ChrisZheng001) <a href="https://twitter.com/ChrisZheng001/status/1780028320253694286?ref_src=twsrc%5Etfw">April 16, 2024</a></blockquote>
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See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/everything-you-need-to-know-about-tesla-stock" rel="noreferrer noopener">Everything You Need to Know About Tesla Stock</a>
Zheng also expressed mixed feelings about the layoffs in China, particularly the partial layoff of an engineering team dedicated to Autopilot localization. 
Wartime Vs. Peacetime CEO
A &#8220;wartime CEO&#8221; refers to an executive who leads a company through an impending crisis, such as intense competition or supply chain disruptions. Peacetime CEOs focus on expanding existing opportunities.
In an email to Tesla employees announcing the layoffs, Musk stated the aim was to reduce costs and eliminate duplicate job roles.
Tesla&#8217;s fundamentals have faltered since 2022 and the stock has become one of the worst performers in the S&amp;P 500 despite overall market strength. This is likely due to a combination of factors: rising interest rates, slowing EV adoption, Tesla&#8217;s own missteps in managing risk (including price cuts that triggered an industry price war and hurt margins), and investor concerns about communication and Musk&#8217;s divided focus.
Senior Departures And Restructuring
Following the layoff reports, senior Tesla executives&nbsp;Drew Baglino&nbsp;and&nbsp;Rohan Patel&nbsp;announced their departures from the company on X and were thanked for their contributions by Musk.
&#8220;About every 5 years, we need to reorganize and streamline the company for the next phase of growth,&#8221; Musk said on the social media platform about the sweeping job cuts.
Focus on Robotaxi and Dropped Projects
Electrek also&nbsp;<a target="_blank" href="https://electrek.co/2024/04/15/tesla-heads-rolling-critical-projects-gigafactory-texas/" rel="noreferrer noopener">reported</a>&nbsp;that Tesla is prioritizing its robotaxi program by dropping other projects under development at its headquarters. This includes seemingly shelving a cathode factory project at Giga Texas in favor of a data center for the robotaxi initiative.
The cathode factory, led by Baglino (who departed), was intended to supply processed cathode material for Tesla&#8217;s in-house battery cell production.
Got Too Big To Handle?
Tesla&#8217;s workforce has ballooned over the years. By the end of 2023, it had 140,473 employees globally, a nearly 200% increase from 48,016 full-time employees at the end of 2019. In comparison, legacy automaker&nbsp;General Motors&nbsp;had 163,000 employees at the year&#8217;s end.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="787" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/16014317/full-1024x787.png" alt="" class="wp-image-293088" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/16014317/full-1024x787.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/16014317/full-300x231.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/16014317/full-768x590.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/16014317/full.png 1220w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
However, Tesla&#8217;s revenue per employee in 2023 was lower than its competitors. The EV giant generated roughly $690,000 per employee, compared to over $1 million for GM and $937,000 for&nbsp;Ford, as per Reuters.
Why It Matters:&nbsp;Tesla is gearing up to unveil its robotaxi on Aug. 8. Musk has previously described it as a revolutionary design &#8220;looking like the future.&#8221;
Earlier this month, Reuters reported Tesla had canceled its low-cost electric vehicle (often referred to as the Model 2) to focus on robotaxis built on the same platform. While Musk denied the report without specific details, it&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38130387/gene-munster-backs-teslas-focus-on-robotaxis-over-low-cost-ev-gary-black-skeptical-" rel="noreferrer noopener">left investors questioning</a>&nbsp;the Model 2&#8217;s future.
Amidst uncertainty about a sub-$30,000 Tesla electric vehicle, Wedbush analyst Daniel Ives has argued the company <a href="https://www.benzinga.com/news/24/04/38112857/tesla-reportedly-scraps-low-cost-car-plans-elon-musk-denies-story" target="_blank" rel="noreferrer noopener">cannot afford to shelve</a> the Model 2, stating, &#8220;Robotaxi is not the answer for now; Model 2 needs to be on the Tesla blueprint.&#8221;
While some enthusiasts appear to be praising the CEO following the layoffs, Electrek editor-in-chief Fred Lambert mentioned on X that one of the laid-off managers described Musk as a &#8220;pigeon CEO&#8221; who &#8220;comes in, shits all over us, and leaves.&#8221;
Image created using photos on Shutterstock
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More: <a href="https://www.benzinga.com/news/24/04/38246375/hyundai-blazes-past-tesla-ioniq-5-robotaxi-aces-simulated-driving-test-already">Hyundai Blazes Past Tesla: IONIQ 5 Robotaxi Aces Simulated Driving Test (Already!)</a>

TSLA

Elon Musk Re-Enters 'Wartime CEO' Mode? Tesla Chief Explains Necessity Of Massive Job Cuts Amid Report Of Critical Giga Texas Projects At Risk

Financial expert Dave Ramsey recently expressed his concerns about the long-term stress and regret associated with student loans, highlighting the need for alternative educational funding methods.
What Happened: In a post on X, formerly Twitter, on Monday, Ramsey outlined the negative impacts of student loans, both financial and psychological. According to research conducted at Ramsey Solutions, 53% of those who took out student loans regretted it, with 43% regretting their decision to attend college altogether.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Here's the deal: Student loans were intended to make college more accessible for people, but they actually create a lifetime of money stress. The negative effects of student loan debt aren't just financial either. In our own research at Ramsey Solutions, we found that 53% of… <a href="https://t.co/gAJyH0hgtj">pic.twitter.com/gAJyH0hgtj</a>
&mdash; Dave Ramsey (@DaveRamsey) <a href="https://twitter.com/DaveRamsey/status/1779892636565840092?ref_src=twsrc%5Etfw">April 15, 2024</a></blockquote>
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</figure>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38257564/israels-war-cabinet-vows-to-respond-clearly-and-forcefully-against-iran-g7-mulls-sanctions?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Israel&#8217;s War Cabinet Vows To Respond &#8216;Clearly And Forcefully&#8217; To Iran, G7 Mulls Sanctions On Tehran: Stocks Tumble, Gold Rallies, WTI Tops $85</a>
Furthermore, Ramsey pointed out that Americans with consumer debt, such as student loans, are nearly twice as likely to lose sleep over their personal finances than those without. A staggering 54% of Americans with consumer debt worry about money every single day.
Why It Matters: Ramsey&#8217;s comments echo his previous advice on student loans. In a <a href="https://www.benzinga.com/personal-finance/24/03/37615352/dave-ramsey-having-a-heart-oh-my-ramsey-gives-student-loan-advice-to-man-whose-wife-is-pregnant-">March interaction</a> with a man whose pregnant wife was battling cancer, Ramsey demonstrated his empathetic side while offering financial guidance.
His recent tweets highlight the urgent need for alternative methods of funding higher education. Ramsey emphasizes that while higher education is crucial, student loans are not the only way to achieve it. The burden of student loan debt not only affects individuals but also has a significant impact on the country&#8217;s future.
Ramsey recently also advised a single dad from Tulsa, Oklahoma, on the importance of reading habits for financial success, as reported in a <a href="https://www.benzinga.com/personal-finance/24/04/38257094/dave-ramsey-says-if-you-want-to-be-rich-read-a-book-the-average-millionaire-reads-one-nonfiction">Benzinga article</a>.
Read Next: <a href="https://www.benzinga.com/24/04/38223975/elon-musk-has-a-fix-for-ticking-us-debt-bomb-but-it-has-a-slight-chance-of-killing-us?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Has A Fix For Ticking US Debt Bomb&#8230; But It Has A &#8216;Slight Chance Of Killing Us&#8217;</a>
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Financial Advisors

Personal Finance

Dave Ramsey Says Student Loans Create Lifetime Of Money Stress: 'Having A Serious Negative Impact On The Future Of Our Country'

ADHERE data show VYVGART&reg;&nbsp;Hytrulo has potential to be first advancement for CIDP patients in 30 years
Real-world data demonstrate gMG patients able to significantly reduce steroid use over first six months of initiating VYVGART&reg;&nbsp;treatment

ARGX

argenx Data Shows Evidence That VYVGART And VYVGART Hytrulo Deliver Transformative Results For Patients Suffering From Debilitating Autoimmune Diseases

<ul>
<li>This strategic investment will enhance the UAE&#39;s position as a global AI hub&nbsp;and provide further opportunities for partners and customers to innovate and grow.</li>
<li>G42 and Microsoft will collaborate to ensure the benefits of secure AI technologies and cloud capabilities are responsibly shared with growing economies globally.</li>
<li>Microsoft&#39;s Vice Chair and President&nbsp;Brad Smith&nbsp;will take a seat on the G42 Board.</li>
<li>Both companies will support the establishment of a&nbsp;$1B&nbsp;fund for developers.</li>
<li>The partnership includes a first of its kind Intergovernmental Assurance Agreement as both parties commit to world-leading standards in AI safety and security</li>
</ul>

MSFT

Microsoft Pours $1.5B Into Abu Dhabi's G42 To Accelerate AI Development And Global Expansion

PACS

Reported Earlier, PACS Group Successfully Closes Initial Public Offering, Raising $450M And Full Underwriters' Option Exercised

Earnings

ALCE

Alternus Clean Energy FY23 Revenue $20.08M Up From $17.09M YoY, Net Loss $(0.93) Down From $(0. 32) YoY

Gold Resource Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GORO#NYSE">GORO</a>) (the &quot;Company&quot;) announces its preliminary&nbsp;first quarter&nbsp;results that includes the sale of 3,557 ounces of gold and 216,535 ounces of silver resulting in total gold equivalent (&quot;AuEq&quot;) ounces of 5,965. Additionally, the company sold 1,682 tonnes of zinc, 264 tonnes of copper, and 667 tonnes of lead.

GORO

Reported Earlier, Gold Resource Preliminary Q1 Results, Sold 3,557 oz Of Gold And 216,535 oz Of Silver Resulting In Total Gold Equivalent oz Of 5,965.

NCTY

The9 Limited Reported FY23 Net Revenues RMB 179M ($25M) Up From RMB 108M YoY; Net Income RMB 13M ($2M) Up From Net Loss RMB 975M YoY

Sen. Elizabeth Warren (D-Mass.) and Sen. Chuck Grassley (R-Iowa)&nbsp;have called on Rostin Behnam, the chair of the U.S. Commodity Futures Trading Commission (CFTC), to divulge details of his communications with Sam Bankman-Fried, the former CEO of FTX.
What Happened: Senator Warren and Grassley have issued a <a href="https://www.grassley.senate.gov/imo/media/doc/grassley_warren_to_cftc_-_ftx.pdf">letter</a> to Behnam asking for a comprehensive record of his interactions with Bankman-Fried during his tenure. This request comes in the wake of disclosures that CFTC officials had met with Bankman-Fried and his team as many as 10 times at the agency over a span of 14 months.
In 2022, Behnam had informed lawmakers that he had exchanged several messages with the FTX founder, who was recently sentenced to 25 years in prison for massive fraud. 
The senators are now demanding copies of all written communications. &#8220;A full accounting of all conversations about Mr. Bankman-Fried, FTX, Alameda, or any associated executives involving you or any CFTC employee,&#8221; the letter stated. 
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38237773/benzinga-bulls-and-bears-tesla-amc-trump-media-plus-lessons-from-dogecoins-post-2020-bitco?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Benzinga Bulls And Bears: Tesla, AMC, Trump Media Plus Lessons From Dogecoin&#8217;s Post-2020 Bitcoin Halving Surge</a>
The CFTC&#8217;s frequent communication with the FTX CEO was reportedly due to Behnam&#8217;s attempts to position FTX&#8217;s LedgerX division to directly manage margined derivatives trading for customers without an intermediary firm. This unsuccessful endeavor had even been the topic of an internal roundtable discussion at the CFTC, <a href="https://www.coindesk.com/policy/2024/04/15/elizabeth-warren-demands-us-cftc-chair-explain-his-chats-with-sbf/">reported</a> CoinDesk.
Steven Adamske, a CFTC spokesperson, confirmed that they had received the senators&#8217; letters. He said, &#8220;We just received these letters, so we will work with the office to get them the information they need.&#8221;
Why It Matters: This latest move by Warren is part of her ongoing efforts to scrutinize the cryptocurrency industry. In a recent Senate Committee on Armed Services hearing, Warren <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37928466/is-your-crypto-investment-funding-terrorism-senator-warren-sounds-alarm">raised concerns about the illicit use of cryptocurrency</a>, highlighting specific threats like terrorism financing and ‘pig butchering' scams, and emphasized the need for stricter regulations to combat these criminal activities.
Warren has also been vocal about the need for <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/37356562/elizabeth-warren-takes-a-fresh-jab-at-crypto-industry-asks-why-it-needs-space-for-drug-tra">stricter regulations in the crypto industry</a>, questioning why the industry seems to say that the only way it can survive is if there's &#8220;plenty of space for the drug traffickers and human traffickers.&#8221;
Her latest demand for transparency from the CFTC chair regarding his interactions with the FTX CEO is in line with her ongoing efforts to hold the cryptocurrency industry accountable and ensure that regulatory bodies are actively monitoring and regulating the industry.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38238919/crypto-markets-tumble-following-irans-drone-attack-against-israel-investor-warns-of-contin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Crypto Markets Tumble Following Iran&#8217;s Drone Attack Against Israel, Investor Warns Of Continued Selloff</a>
Image Via Shutterstock 
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Regulations

Global

Elizabeth Warren Questions CFTC Chair On Frequent Interactions With Jailed FTX Founder Sam Bankman-Fried: Provide 'Full Accounting Of All Conversations'

Four of Textron Aviation&#39;s 20 company-owned service centers &mdash; Singapore, Paris, Zurich and Indianapolis &mdash; recertified their Tier 1 status, going above and beyond NATA&#39;s certification requirements and implementing additional sustainable practices.

Reported Earlier, Textron Aviation's Company-Owned Service Centers Received Recertification As A Green Aviation Business From NATA

In a significant development for the defense sector, Lockheed Martin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) has clinched a substantial contract with the U.S. Missile Defense Agency, marking a pivotal moment for the company amidst recent budgetary adjustments and competitive pressures.
What Happened: Lockheed Martin has been awarded a $17 billion contract for the development of the Next Generation Interceptor (NGI), Reuters reported on Tuesday. This system is integral to the United States&#8217; defense strategy against intercontinental ballistic missile threats.
The NGI program is designed to counter potential threats from nations such as North Korea and Iran. This contract is a significant win for Lockheed Martin following the <a href="https://www.benzinga.com/news/24/02/37149083/team-biden-plans-18-reduction-in-lockheed-martins-f-35-fighter-jet-orders-for-2025-due-to-budget-con">U.S. government&#8217;s decision to reduce F-35 jet orders</a> and the cancellation of a helicopter project that Lockheed had been involved in.
The contract will modernize the Ground-Based Midcourse Defense (GMD) system, which includes radars and interceptors to protect the U.S. from missile attacks. 
Sarah Hiza, general manager at Lockheed, expressed the company&#8217;s commitment to delivering effective interceptors, with the first operational interceptor expected by 2028. The NGI is in the technology development phase and will move to product development in May, according to Lieutenant General Heath Collins.
See Also: <a href="https://www.benzinga.com/markets/asia/24/04/38242468/former-trump-aide-scaramucci-urges-keeping-ex-president-as-far-from-the-white-house-as-possible-afte?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Former Trump Aide Scaramucci Urges Keeping Ex-President &#8216;As Far From The White House As Possible&#8217; After Iran&#8217;s Attack On Israel: &#8216;Protect Our 76-Year Ally&#8217;</a>
After Boeing Co. lost a contract for a &#8220;kill vehicle&#8221; due to technical issues, Lockheed won the bid for the entire interceptor system. The NGI program&#8217;s lifetime value is estimated at $17.7 billion, with the Biden administration requesting $28.4 billion for missile defenses in the fiscal 2025 budget.
Despite previous challenges with the GMD system and lower-than-expected profit forecasts due to supply-chain issues, Lockheed and other U.S. defense companies have seen a surge in demand for military equipment, with foreign military sales hitting a record $238 billion in 2023.
Why It Matters: The recent contract win for Lockheed Martin comes at a critical time for the company. Earlier this year, U.S. defense contractors, including Lockheed, <a href="https://www.benzinga.com/markets/equities/24/03/37449022/top-us-defence-contractors-lockheed-martin-and-raytheon-shares-dip-amid-budget-woes-while-europe">faced declining shares due to legislative stalemates</a> in Washington, which cast uncertainty over government spending. This contrasted with the rising stock prices of European defense firms following the global military boom.
<a href="https://www.benzinga.com/markets/equities/24/04/38220005/whats-going-on-with-lockheed-martin-shares-after-scoring-4b-defense-order">Lockheed&#8217;s recent $4.10 billion contract </a>from the Missile Defense Agency for the Command and Control, Battle Management, and Communications (C2BMC) system, is part of this broader effort to maintain its leadership in defense innovation and global interoperability.
With the stock closing at $453.08 on Monday, up 0.7% from the previous close, and a volume of 2,442,119, Lockheed Martin&#8217;s recent contract wins demonstrate resilience and adaptability in a changing defense landscape.
Read Next: <a href="https://www.benzinga.com/news/24/04/38241519/mark-cubans-288m-wire-transfer-to-irs-a-veiled-jab-at-trump?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban&#8217;s $288M Wire Transfer To IRS: A Veiled Jab At Trump?</a>
Photo courtesy: Lockheed Martin
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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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 <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Learn more.</a>
 
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Lockheed Martin Wins $17B Contract To Shield US From North Korea, Iran Missile Threats

Ernie Bot, the artificial intelligence (AI) chatbot developed by China&#8217;s Baidu Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>), has amassed over 200 million users, the company revealed on Tuesday.
What Happened: The number of users for the AI chatbot has doubled since the last update in December, reported Reuters. The chatbot was made available to the public eight months ago.
Baidu&#8217;s CEO Robin Li also disclosed that Ernie Bot&#8217;s application programming interface (API) is being used 200 million times every day. The chatbot has attracted 85,000 enterprise clients.
In February, Li informed analysts that Baidu had started generating revenue from Ernie. In the fourth quarter, the company earned several hundred million yuan by using AI to enhance its ad services and assist other companies in constructing their own models.
See Also: <a href="https://www.benzinga.com/news/24/04/38216195/elon-musk-asks-advertisers-to-return-to-x-after-months-of-tussle-with-disney-apple-and-others-as-zuc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Asks Advertisers To Return To X After Months Of Tussle With Disney, Apple, And Others As Zuckerberg&#8217;s Meta Faces Flak For Ad-System Inconsistency</a>
Ernie Bot was the first locally developed ChatGPT-like chatbot to be announced in China last March. However, it only received approval for public release in August, making it one of the first eight AI chatbots approved by Beijing.
Despite the impressive growth, Baidu faces stiff competition from other domestic AI services. Moonshot AI, an Alibaba-backed startup, has seen its &#8220;Kimi&#8221; chatbot rapidly gaining ground on Ernie Bot, according to the report.
Despite the impressive growth in the domestic market, Chinese generative AI services still lag behind their Western counterparts. According to AIcpb.com, OpenAI&#8217;s ChatGPT remains the world&#8217;s most popular generative AI service, with total traffic growing 9% to reach 1.86 billion views last month.
Why It Matters: Baidu&#8217;s AI chatbot has been making significant strides in the past year. In December, the company announced that Ernie had <a href="https://www.benzinga.com/news/23/12/36424514/baidus-ai-chatbot-ernie-surpasses-100-million-users-giving-openai-a-run-for-its-money">surpassed 100 million users</a>, putting it in direct competition with OpenAI&#8217;s ChatGPT. 
In October, Baidu <a href="https://www.benzinga.com/fintech/23/10/35295627/chatgpt-vs-ernie-bot-baidu-launches-upgraded-ai-chatbot-showcases-advanced-capabilities">launched an upgraded version</a> of the Ernie bot, showcasing advanced capabilities. This move was seen as a strategic step to maintain its position in the fiercely competitive AI market.
The company has been bullish about the chatbot&#8217;s potential, with analysts <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/11/35917729/baidus-ai-chatbot-earnie-4-is-off-to-a-good-start-says-bullish-analyst">noting its strong start</a> in monetization.
Read Next: <a href="https://www.benzinga.com/news/24/04/38178568/elon-musk-reacts-to-old-clip-of-apple-co-founder-steve-jobs-saying-theres-a-tremendous-amount-of-cra?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts To Old Clip Of Apple Co-Founder Steve Jobs Saying &#8216;There&#8217;s A Tremendous Amount Of Craftsmanship In Between A Great Idea And A Great Product&#8217;</a>
Image Via Shutterstock 
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 extensive Benzinga Ecosystem, including native data, APIs, and more to 
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BIDU

ChatGPT's China Rival 'Ernie Bot' By Baidu Surpasses 200M Users Amid Fierce Competition

Johnson &amp; Johnson (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jnj#NYSE">JNJ</a>) is set to release earnings results for its first quarter before the <a href="https://www.benzinga.com/quote/JNJ/earnings">opening bell on April 16, 2024</a>.
Analysts expect the New Brunswick, New Jersey-based company to report quarterly earnings at $2.64 per share, up from $2.41 per share in the year-ago period. Johnson &amp; Johnson is projected to report quarterly revenue of $21.40 billion, compared to $24.75 billion in the year-earlier quarter, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Rallybio recently announced a collaboration with Johnson &amp; Johnson to support the development of complementary therapeutic approaches aimed at reducing the risk of fetal and neonatal <a href="https://www.benzinga.com/general/biotech/24/04/38202543/rare-disease-focused-rallybio-inks-development-pact-with-johnson-johnson-stock-shoots-higher">alloimmune thrombocytopenia (FNAIT)</a>.
Johnson &amp; Johnson shares rose 0.1% to close at $147.59 on Monday.
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&rsquo;s have a look at how Benzinga&rsquo;s most-accurate <a href="https://www.benzinga.com/quote/JNJ/analyst-ratings"> analysts have rated the company </a> in the recent period.
<ul>
<li>Cantor Fitzgerald analyst Louise Chen reiterated an Overweight rating with a price target of $215 on April 15, 2024. This analyst has an accuracy rate of 62%.</li>
<li>Morgan Stanley analyst Terence Flynn maintained an Equal-Weight rating and cut the price target from $170 to $169 on Jan. 24, 2024. This analyst has an accuracy rate of 69%.</li>
<li>Raymond James analyst Jayson Bedford maintained an Outperform rating and raised the price target from $172 to $175 on Jan. 3, 2024. This analyst has an accuracy rate of 68%.</li>
<li>Wells Fargo analyst Larry Biegelsen downgraded the stock from Overweight to Equal-Weight and cut the price target from $170 to $163 on Dec. 13, 2023. This analyst has an accuracy rate of 73%.</li>
<li>UBS analyst Danielle Antalffy upgraded the stock from Neutral to Buy with a price target of $180 on Dec. 1, 2023. This analyst has an accuracy rate of 62%.</li>
</ul>
&nbsp;
Read This Next: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38247436/brightcove-and-1-other-penny-stock-insiders-are-buying"> Brightcove And 1 Other Penny Stock Insiders Are Buying </a>

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