FT Vest U.S. Equity Buffer ETF - November (BATS: FNOV)

Latest news for FT Vest U.S. Equity Buffer ETF - November (BATS:FNOV)

To achieve its investment objectives, the First Trust ETF will, under normal market conditions invest substantially all its assets in Flexible Exchange Options that reference the price return of the Underlying ETF. The investment objective of the Underlying ETF is to seek to provide investment results that, before expenses, correspond generally to the price and yield performance of the S&P 500 Index.

First Trust Cboe Vest US Equity Buffer ETF - November

FT Vest U.S. Equity Buffer ETF - November

Friday, the FDA approved &nbsp;Zevra Therapeutics, Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZVRA#NASDAQ">ZVRA</a>) Miplyffa (arimoclomol), an oral medication for Neimann-Pick disease, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g40961665/zevra-therapeutics-miplyffa-arimoclomol-receives-u-s-fda-approval-as-treatment-for-niemann-pick-di" rel="noreferrer noopener">type C (NPC)</a>.
Miplyffa, in combination with Johnson &amp; Johnson's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) enzyme inhibitor Zavesca (miglustat), is approved to treat neurological symptoms associated with NPC in adults and children two years of age and older.
Miplyffa is the first drug approved by the FDA to treat NPC.&nbsp;
NPC is a rare genetic disease that results in progressive neurological symptoms and organ dysfunction.
It is caused by changes in either the NPC1 or NPC2 gene, affecting the necessary transport of cholesterol and other lipids within a cell. As a result, these cells do not function as they should, ultimately causing organ damage.
Miplyffa was the first product application to be&nbsp;discussed&nbsp;at the inaugural meeting of the&nbsp;Genetic Metabolic Diseases Advisory Committee&nbsp;(GeMDAC) in August.
The committee voted favorably (11 yes, 5 no) that the data supports that arimoclomol is effective in treating <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40157788/fda-panel-backs-zevras-arimoclomol-for-rare-genetic-disorder-analyst-highlights-bal" rel="noreferrer noopener">patients with NPC</a>.
GeMDAC was established in December 2023 to advise the agency on products used for the diagnosis, prevention or treatment of genetic metabolic diseases.&nbsp;
The safety and effectiveness of Miplyffa were evaluated in a randomized, double-blind, placebo-controlled 12-month trial in patients.
Miplyffa's efficacy was demonstrated by the rescored 4-domain NPC Clinical Severity Scale (R4DNPCCSS) score in the patients who used miglustat as their background treatment.
The R4DNPCCSS is a measure of NPC disease progression. Higher scores signify a greater severity of the disease.
Compared to placebo, Miplyffa resulted in a slower disease progression.
In 2021, the FDA issued a complete response letter to arimoclomol as a treatment option for&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/21/06/21621339/orphazyme-wild-party-at-risk-as-fda-rejects-its-rare-neurodegenerative-disease-drug?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+benzinga+%28Benzinga+News+Feed%29" rel="noreferrer noopener">Niemann-Pick disease type C</a>.
The CRL asked for additional qualitative and quantitative evidence to further support the validity and interpretation of the 5-domain NPC Clinical Severity Scale,&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/21/11/23783862/orphazyme-stock-gains-after-fda-update-on-arimoclomol-in-rare-neurodegenerative-disorder" rel="noreferrer noopener">particularly the swallow domain</a>.
Zevra Therapeutics resubmitted its New Drug Application (NDA) for arimoclomol to the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/23/12/g36395563/zevra-therapeutics-announces-resubmission-of-arimoclomol-new-drug-application-to-the-u-s-food-and-" rel="noreferrer noopener">FDA in December 2023</a>.
Price Action: ZVRA stock is up 1.01% at $8.01 at the last check on Friday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/biotech/24/09/40961934/novo-nordisk-stock-declines-after-headline-results-from-mid-stage-study-of-monlunabant-in-obese-p" target="_blank" rel="noreferrer noopener">Novo Nordisk Stock Declines After Headline Results From Mid-Stage Study Of Monlunabant In Obese Patients</a>.</li>
</ul>

Biotech

News

Health Care

General

ZVRA

Zevra Therapeutics' Drug Becomes First FDA-Approved Treatment For Ultra-Rare Neurodegenerative Disease

Mizuho analyst Dan Dolev maintains Upstart Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPST#NASDAQ">UPST</a>) with a Outperform and raises the price target from $33 to $48.

Price Target

Analyst Ratings

UPST

Mizuho Maintains Outperform on Upstart Hldgs, Raises Price Target to $48

HC Wainwright &amp; Co. analyst Oren Livnat maintains Zevra Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZVRA#NASDAQ">ZVRA</a>) with a Buy and raises the price target from $18 to $20.

HC Wainwright & Co. Maintains Buy on Zevra Therapeutics, Raises Price Target to $20

Mizuho analyst Vijay Rakesh maintains Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) with a Outperform and lowers the price target from $1050 to $950.

LRCX

Mizuho Maintains Outperform on Lam Research, Lowers Price Target to $950

On Friday, the U.S. Department of Energy (DOE) announced over $3 billion for 25 projects in 14 states to boost domestic production of advanced batteries and materials.
Of the 25 <a target="_blank" href="https://www.energy.gov/articles/biden-harris-administration-announces-over-3-billion-support-americas-battery#:~:text=WASHINGTON%2C%20D.C.%20%E2%80%94%20As%20part%20of,batteries%20and%20battery%20materials%20nationwide." rel="noreferrer noopener">selected</a> projects, over half have committed to or signed a Project Labor Agreement, and 10 have agreements with labor or neutrality pledges.
Union partners include NABTU, Boilermakers, SMART, Carpenters, Operating Engineers, UFCW, IBEW, and the UA. These projects, once finalized, are expected to create over 8,000 construction jobs and 4,000 operating jobs.
This initiative supports the administration's clean energy strategy alongside a $120 billion private sector investment in the EV supply chain.
These projects, which are essential for the U.S. grid and transportation electrification, are expected to improve facilities for producing battery-grade materials, components, manufacturing, and recycling.
The DOE is leveraging grants and loans to build a resilient battery manufacturing supply chain for Americans. Through MESC, the Investing in America agenda will generate $16 billion for battery manufacturing and recycling via the Battery Materials Processing and Manufacturing Program.
U.S. Secretary of Energy Jennifer M. Granholm said, "We're in the midst of a manufacturing revival in the United States as the Biden-Harris Administration's Investing in America agenda continues to breathe new life into communities and local economies across the country,"
John Podesta, Senior Advisor to President Biden for International Climate Policy, stated,&nbsp;"Today's battery manufacturing grants from DOE will boost America's manufacturing base, create good-paying union jobs all over the country, and help tackle the climate crisis."
As per Reuters report, Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>) will receive $67 million for a project in North Carolina to produce commercial quantities of anode material for next-generation lithium-ion batteries.
In addition, the DOE plans to award Dow Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>) $100 million to produce battery-grade carbonate solvents for lithium-ion battery electrolytes.
Also, Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>) is projected to attain $126.6 million to construct a commercial-scale facility in Louisiana for producing a key electrolyte salt essential for lithium batteries.
This month, Occidental Petroleum's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>)&nbsp;subsidiary, 1PointFive, disclosed that the U.S. Department of Energy's Office of Clean Energy Demonstrations (OCED) planned to provide up to $500 million to support the development of the <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40850606/occidentals-1pointfive-secures-500m-boost-to-capture-co2-details" rel="noreferrer noopener">South&nbsp;Texas Direct Air Capture (DAC) Hub</a>.
Read Next:
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<li><a href="https://www.benzinga.com//node/40961594" target="_blank" rel="noreferrer noopener">Mullen Automotive Gears Up $210M EV Deal In Dubai – Delivers First Units To Volt Mobility</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by earth phakphum via Shutterstock

Equities

Commodities

Legal

US Department Of Energy To Invest $3B in Battery Production

Cantor Fitzgerald analyst Charles Duncan reiterates Intra-Cellular Therapies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ITCI#NASDAQ">ITCI</a>) with a Overweight and maintains $130 price target.

Reiteration

ITCI

Cantor Fitzgerald Reiterates Overweight on Intra-Cellular Therapies, Maintains $130 Price Target

<a href="https://www.bloomberg.com/news/articles/2024-09-20/google-faces-eu-ultimatum-in-fresh-attack-on-search-dominance" title="https://www.bloomberg.com/news/articles/2024-09-20/google-faces-eu-ultimatum-in-fresh-attack-on-search-dominance">https://www.bloomberg.com/news/articles/2024-09-20/google-faces-eu-ultimatum-in-fresh-attack-on-search-dominance</a>

GOOG

GOOGL

'Google Faces EU Ultimatum in Fresh Attack on Search Dominance' - Bloomberg

Mizuho analyst Vijay Rakesh maintains Applied Mat (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>) with a Outperform and lowers the price target from $245 to $225.

AMAT

Mizuho Maintains Outperform on Applied Mat, Lowers Price Target to $225

Cantor Fitzgerald analyst Charles Duncan reiterates Axsome Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXSM#NASDAQ">AXSM</a>) with a Overweight and maintains $107 price target.

AXSM

Cantor Fitzgerald Reiterates Overweight on Axsome Therapeutics, Maintains $107 Price Target

Deep-pocketed investors have adopted a bullish approach towards Coinbase Glb (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in COIN usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 28 extraordinary options activities for Coinbase Glb. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 42% bearish. Among these notable options, 7 are puts, totaling $669,860, and 21 are calls, amounting to $2,660,141.
<h3>Expected Price Movements</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $145.0 to $420.0 for Coinbase Glb during the past quarter. 
<h3>Volume &amp; Open Interest Development</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Coinbase Glb's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Coinbase Glb's whale trades within a strike price range from $145.0 to $420.0 in the last 30 days. 
<h3>Coinbase Glb 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726852868_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/15/26</td>
<td>$71.9</td>
<td>$71.75</td>
<td>$71.75</td>
<td>$150.00</td>
<td>$358.7K</td>
<td>5.3K</td>
<td style="text-align: right;">209</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/15/26</td>
<td>$72.85</td>
<td>$71.75</td>
<td>$71.75</td>
<td>$150.00</td>
<td>$358.7K</td>
<td>5.3K</td>
<td style="text-align: right;">114</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/15/26</td>
<td>$72.9</td>
<td>$71.75</td>
<td>$71.75</td>
<td>$150.00</td>
<td>$358.7K</td>
<td>5.3K</td>
<td style="text-align: right;">64</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/15/26</td>
<td>$71.9</td>
<td>$70.2</td>
<td>$71.75</td>
<td>$150.00</td>
<td>$258.3K</td>
<td>5.3K</td>
<td style="text-align: right;">295</td>
</tr>
<tr>
<td>COIN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$18.5</td>
<td>$18.25</td>
<td>$18.25</td>
<td>$160.00</td>
<td>$182.5K</td>
<td>1.3K</td>
<td style="text-align: right;">100</td>
</tr>
</tbody>
</table>

<h3>About Coinbase Glb</h3>
Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States. The company intends to be the safe and regulation-compliant point of entry for retail investors and institutions into the cryptocurrency economy. Users can establish an account directly with the firm, instead of using an intermediary, and many choose to allow Coinbase to act as a custodian for their cryptocurrency, giving the company breadth beyond that of a traditional financial exchange. While the company still generates the majority of its revenue from transaction fees charged to its retail customers, Coinbase uses internal investment and acquisitions to expand into adjacent businesses, such as prime brokerage and data analytics.
<h3>Present Market Standing of Coinbase Glb</h3>
<ul>
<li>Currently trading with a volume of 3,642,568, the COIN's price is up by 1.81%, now at $171.29. </li>
<li>RSI readings suggest the stock is currently may be approaching oversold.</li>
<li>Anticipated earnings release is in 41 days.</li>
</ul>
<h3>Professional Analyst Ratings for Coinbase Glb</h3>
1 market experts have recently issued ratings for this stock, with a consensus target price of $169.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Barclays has elevated its stance to Equal-Weight, setting a new price target at $169. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Coinbase Glb with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Markets

COIN

Coinbase Glb Unusual Options Activity For September 20

Whales with a lot of money to spend have taken a noticeably bearish stance on AST SpaceMobile.
Looking at options history for AST SpaceMobile (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) we detected 17 trades.
If we consider the specifics of each trade, it is accurate to state that 29% of the investors opened trades with bullish expectations and 58% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $125,220 and 14, calls, for a total amount of $958,865.
<h3>Projected Price Targets</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $5.0 and $50.0 for AST SpaceMobile, spanning the last three months.
<h3>Insights into Volume &amp; Open Interest</h3>
In today's trading context, the average open interest for options of AST SpaceMobile stands at 2844.36, with a total volume reaching 3,501.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in AST SpaceMobile, situated within the strike price corridor from $5.0 to $50.0, throughout the last 30 days.
<h3>AST SpaceMobile Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726852863_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>ASTS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$13.8</td>
<td>$13.4</td>
<td>$13.4</td>
<td>$15.00</td>
<td>$268.0K</td>
<td>6.7K</td>
<td style="text-align: right;">201</td>
</tr>
<tr>
<td>ASTS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/15/27</td>
<td>$18.6</td>
<td>$17.8</td>
<td>$18.0</td>
<td>$25.00</td>
<td>$180.0K</td>
<td>144</td>
<td style="text-align: right;">341</td>
</tr>
<tr>
<td>ASTS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/15/27</td>
<td>$16.5</td>
<td>$14.0</td>
<td>$14.1</td>
<td>$45.00</td>
<td>$70.5K</td>
<td>267</td>
<td style="text-align: right;">506</td>
</tr>
<tr>
<td>ASTS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>10/25/24</td>
<td>$2.9</td>
<td>$2.7</td>
<td>$2.9</td>
<td>$32.00</td>
<td>$51.6K</td>
<td>227</td>
<td style="text-align: right;">178</td>
</tr>
<tr>
<td>ASTS</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$2.7</td>
<td>$2.5</td>
<td>$2.55</td>
<td>$10.00</td>
<td>$50.9K</td>
<td>2.9K</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>

<h3>About AST SpaceMobile</h3>
AST SpaceMobile Inc is a satellite designer and manufacturer. The company is building a cellular broadband network in space to operate directly with standard, unmodified mobile devices, and off-the-shelf mobile phones based on extensive IP and patent portfolio. It has focused on eliminating the connectivity gaps faced by mobile subscribers and finally bringing broadband to the billions who remain unconnected. The Company's spaceMobile Service is being designed to provide cost-effective, high-speed Cellular Broadband services to end-users who are out of terrestrial cellular coverage using existing mobile devices.
Having examined the options trading patterns of AST SpaceMobile, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Where Is AST SpaceMobile Standing Right Now?</h3>
<ul>
<li>With a trading volume of 9,360,862, the price of ASTS is down by -0.56%, reaching $28.45.</li>
<li>Current RSI values indicate that the stock is may be approaching oversold.</li>
<li>Next earnings report is scheduled for 53 days from now.</li>
</ul>
<h3>What Analysts Are Saying About AST SpaceMobile</h3>
In the last month, 3 experts released ratings on this stock with an average target price of $48.3.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Deutsche Bank has decided to maintain their Buy rating on AST SpaceMobile, which currently sits at a price target of $63. 
&#x2A; An analyst from Scotiabank persists with their Sector Outperform rating on AST SpaceMobile, maintaining a target price of $45. 
&#x2A; Maintaining their stance, an analyst from B. Riley Securities continues to hold a Buy rating for AST SpaceMobile, targeting a price of $36. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for AST SpaceMobile with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

ASTS

AST SpaceMobile Unusual Options Activity

<a href="https://x.com/MartinShkreli/status/1837178336638030215" title="https://x.com/MartinShkreli/status/1837178336638030215">https://x.com/MartinShkreli/status/1837178336638030215</a>

Trading Ideas

DAWN

Watching Shares Of Day One Biopharmaceuticals; Martin Shkreli Post On X, "The stock $DAWN is a good long idea. Probably doubles."

Jefferies analyst Julien Dumoulin-Smith maintains GE Vernova (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>) with a Buy and raises the price target from $261 to $293.

Jefferies Maintains Buy on GE Vernova, Raises Price Target to $293

ConsenSys, the blockchain company behind Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) infrastructure projects like MetaMask, has faced a setback in its lawsuit against the <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40876874/sec-moves-to-amend-binance-lawsuit-reinforcing-claims-of-unregistered-securities-sales">U.S. Securities and Exchange Commission (SEC)</a>.
What Happened: The company had initially <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38520739/consensys-alleges-sec-covertly-targeted-ethereum-sparking-legal-battle">sued the SEC</a> for overreach, accusing the regulator of conducting an unnecessary investigation into Ethereum, specifically targeting Ethereum 2.0.
The lawsuit, filed earlier this year, sought to clarify that Ethereum's native token, ether, should not be classified as a security.
However, a Texas judge <a href="https://storage.courtlistener.com/recap/gov.uscourts.txnd.389154/gov.uscourts.txnd.389154.57.0.pdf">ruled </a>that the lawsuit lacked merit due to the SEC's decision to abandon its Ethereum probe. In his decision, Judge Reed O'Connor of the U.S. District Court for the Northern District of Texas explained, "because withholding consideration subjects plaintiff to scant, if any, hardship, the claim lacks a ripe case or controversy.&#8221; 
Essentially, the court found that without an active investigation, ConsenSys had no grounds to pursue the lawsuit.
This ruling follows the SEC's quiet closure of its Ethereum investigation earlier this year. 
ConsenSys celebrated this development, stating in a <a href="https://go.skimresources.com/?id=100652X1574425&amp;isjs=1&amp;jv=15.7.1&amp;sref=https%3A%2F%2Fwww.coindesk.com%2Fpolicy%2F2024%2F09%2F20%2Fconsensys-suit-against-us-sec-dismissed-by-texas-court%2F%3Futm_medium%3Dreferral%26utm_source%3Drss%26utm_campaign%3Dheadlines&amp;url=https%3A%2F%2Fx.com%2FConsensys%2Fstatus%2F1836882745630544015&amp;xs=1&amp;xtz=-120&amp;xuuid=6ca5d26533e61b37eaf421e8a45e09f3&amp;xjsf=other_click__contextmenu%20%5B2%5D">post</a> on X (formerly Twitter): "In a significant win for the industry, the SEC dropped its &#8216;Ethereum 2.0&#8217; investigation after our litigation was filed, and the Texas court today recognized that the SEC already gave ConsenSys the relief it sought on that critical issue for the Ethereum ecosystem."
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40959531/oops-arthur-hayes-realizes-790-000-loss-on-this-ethereum-based-altcoin">Oops! Arthur Hayes Realizes $790,000 Loss On This Ethereum-Based Altcoin</a>
Why IT Matters: While the SEC hasn't officially commented on the judge's decision or the case&#8217;s dismissal, the outcome reflects broader concerns within the blockchain industry regarding regulatory overreach.
ConsenSys maintained that their lawsuit had "laid bare the overzealous investigation of Ethereum," and it echoed widespread unease over the SEC's aggressive stance on blockchain software development.
Initially, ConsenSys had sought legal recognition that ETH is not a security and that its flagship product, MetaMask, does not function as a broker under federal law.
Moreover, the company argued that its staking services did not violate securities regulations. 
Yet, while the Ethereum investigation has been dropped, the SEC followed up with charges <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39555976/sec-files-lawsuit-against-consensys-over-unregistered-brokerage-activities">in June</a>, accusing ConsenSys of operating MetaMask as an unregistered securities broker.
Despite these charges, the SEC has remained relatively quiet about Ether's legal status. However, the regulator recently <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40847331/gary-gensler-led-sec-directs-crypto-firm-to-halt-trading-for-all-coins-but-bitcoin-ethereu">reached a settlement</a> with trading platform eToro, allowing it to continue listing ETH in the U.S.
What&#8217;s Next: On November 19, these issues, along with the future of Ethereum and other crypto projects, will take center stage at Benzinga's highly anticipated <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event, where key players in the blockchain space will gather to discuss the intersection of regulation, technology, and innovation.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40955750/bitcoins-correction-ends-but-it-has-to-break-this-target-to-surge-to-70k-10x-research">Bitcoin&#8217;s Correction Ends, But It Has To Break This Target To Surge To $70K: 10x Research</a></li>
</ul>
Image: Shutterstock

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

Cryptocurrency

$ETH

Judge Dismisses ConsenSys Lawsuit After SEC Withdraws Ethereum Investigation

Veteran technical analyst CryptoCred sees a potential shift to a bullish market structure for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), suggesting the apex crypto is at <a href="https://www.benzinga.com/money/bitcoin-price-prediction">a critical juncture</a>. 
What Happened: CryptoCred took to his X <a href="https://x.com/CryptoCred/status/1837039942582600020">account</a> to emphasize the importance of using line charts for market structure analysis, noting that they &#8220;tend to be clearer as they only show the closes.&#8221; 
According to his analysis, Bitcoin has been forming lower highs on the weekly timeframe, indicating a bearish trend.
However, the analyst pointed out that the current price level represents &#8220;the bears&#8217; last stand,&#8221; describing it as the &#8220;last reasonable area where a lower high could form if they&#8217;re right + close proximity to invalidation.&#8221; 
This suggests that the market is at a pivotal point where the direction could shift significantly.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40955750/bitcoins-correction-ends-but-it-has-to-break-this-target-to-surge-to-70k-10x-research">Bitcoin&#8217;s Correction Ends, But It Has To Break This Target To Surge To $70K: 10x Research</a>
CryptoCred highlighted that a weekly close above $64,000, &#8220;ideally an impulsive one, would suggest a bullish break in market structure (first one in a while).&#8221; Such a move would have several implications for his trading system, including setting a higher timeframe directional bias towards bullish sentiment.
The analyst outlined three potential trading strategies in the event of a bullish breakout:
<ol>
<li>Holding lower timeframe long positions for longer durations with wider targets.</li>
<li>Entering positions at the weekly close if a strong signal appears.</li>
<li>Looking for medium timeframe pullback entries to establish positions at higher lows.</li>
</ol>
CryptoCred cautioned that while the market is currently at local resistance within a bearish weekly structure, a failure by bears to maintain control could have significant technical implications. He advised traders to have a plan ready for either scenario.
Crypto chart analyst Ali Martinez noted Bitcoin's critical level, testing the 200-day SMA, to confirm the bull run. He pointed out that when Bitcoin failed to reclaim the support in the past, it corrected significantly.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is once again testing the 200-day SMA, a critical level for confirming the bull run. Historically, failures to reclaim this support, as seen in 2020, 2018, and 2014, led to significant corrections. Watch closely—rejection here could signal trouble for <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>! <a href="https://t.co/WWJgSHSvCd">pic.twitter.com/WWJgSHSvCd</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1836962233978606018?ref_src=twsrc%5Etfw">September 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
What&#8217;s Next: The influence of&nbsp;<a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment" target="_blank" rel="noreferrer noopener">Bitcoin as an institutional asset class</a>&nbsp;is expected to be thoroughly explored at Benzinga&#8217;s upcoming&nbsp;<a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a>&nbsp;event on Nov. 19.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40858231/bitcoin-decouples-from-gold-investors-leaning-towards-traditional-safe-haven-assets-crypto">Bitcoin Decouples From Gold: &#8216;Investors Leaning Towards Traditional Safe-Haven Assets,&#8217; CryptoQuant Signals</a></li>
</ul>
Image: Shutterstock

$BTC

Bitcoin Bears Are Facing 'Last Stand': Here's What Technical Analysts Are Saying

<a href="https://eletric-vehicles.com/lucid/lucid-motors-in-licensing-talks-with-many-automakers-vp-says/" title="https://eletric-vehicles.com/lucid/lucid-motors-in-licensing-talks-with-many-automakers-vp-says/">https://eletric-vehicles.com/lucid/lucid-motors-in-licensing-talks-with-many-automakers-vp-says/</a>

LCID

'Lucid Motors in Licensing Talks with "Many" Automakers, VP Says' - Eletric Vehicles

<a href="https://www.benzinga.com/personal-finance/24/05/38880642/2-million-is-nothing-suze-orman-warns-dont-retire-if-you-dont-have-at-least-5-million-or-10-mill">Suze Orman</a>, the well-known financial guru, has long advocated buying cars and keeping them for extended periods, a strategy that aligns with current automotive trends. In a recent interview with Go Banking Rates, Orman emphasized the financial wisdom of long-term car ownership.
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&#8220;When I buy a car, I keep it for at least 10 to 12 to 15 years or longer,&#8221; Orman said. &#8220;Right now, I am going on the 12th year that I have owned my car and I have no plans of getting rid of that car for years to come.&#8221;
Orman&#8217;s approach mirrors the evolving behavior of American car owners. According to S&amp;P Global Mobility, the average age of cars and light trucks in the U.S. reached a record high of 12.6 years in 2024, up from 12.5 years in 2023. This trend represents a significant increase from two decades ago when the average vehicle age was just 9.7 years.
Trending: Founder of Personal Capital and ex-CEO of PayPal<a href="https://www.benzinga.com/money/evergreen-money"> re-engineers traditional banking with this new high-yield account — start saving better today.</a>
She also criticizes the practice of frequent car upgrades, <a href="https://www.benzinga.com/personal-finance/24/05/38555548/suze-orman-calls-car-leasing-the-biggest-waste-of-money-and-advises-to-buy-rather-than-lease">particularly leasing</a>. &#8220;I don&#8217;t buy a car every three years like most of you do,&#8221; she said. &#8220;I don&#8217;t lease a car every three years like many of you do, simply to drive a car to impress people you don&#8217;t even know at a stop sign with money you probably don&#8217;t even have.&#8221;
While Orman&#8217;s <a href="https://www.benzinga.com/personal-finance/24/09/40837523/suze-orman-isnt-wasting-money-on-insurance-for-her-condo-im-not-paying-28-000-a-year-when-the-in">advice may seem conservative</a>, it&#8217;s increasingly relevant given the current automotive market and rising car payments. According to Experian, the average monthly car payment for new vehicles was $735 in the first quarter of 2024, a 0.4% increase from the previous year. Used car payments also rose by 0.4%, reaching $523 per month.
Trending: Elon Musk and Jeff Bezos are bullish on one city that could dethrone New York and become the new financial capital of the US.<a href="https://www.benzinga.com/money/miami-take-new-yorks-place-financial-capital"> Investing in its booming real estate market has never been more accessible.</a>
These high payments are largely due to the increasing costs of vehicles. According to Kelley Blue Book, the average price of a new car reached $48,247 in late 2023. Even used cars averaged $26,091, highlighting the significant financial commitment involved in vehicle purchases.
The financial implications of buying versus leasing are substantial. A 2024 analysis by MST found that over 39 months, leasing resulted in a total cash outlay of $16,622.19 compared to $18,910.09 for purchasing. However, purchasing builds equity, with the vehicle retaining a value of $11,512.48 at the end of this period.
Trending: During market downturns, investors are learning that unlike equities, these<a href="https://www.benzinga.com/money/connect-invest-real-estate-notes"> high-yield real estate notes that pay 7.5% &#8211; 9% are protected by resilient assets, buffering against losses.</a>
Despite these high prices and payments, car ownership remains prevalent in the U.S. A Forbes Advisor report indicates that 91.7% of U.S. households had at least one vehicle in 2022, with 22.1% owning three or more.
As vehicle costs continue to rise and economic uncertainties persist, Orman&#8217;s approach to car ownership may become increasingly appealing to consumers looking to maximize their automotive investments while minimizing long-term expenses. By avoiding the cycle of frequent upgrades and high monthly payments, consumers can <a href="https://www.benzinga.com/money/can-you-guess-how-many-americans-successfully-retire-with-1-million-saved">potentially save thousands of dollars</a> over the life of their vehicles.
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<li>These five entrepreneurs are worth $223 billion –<a href="https://www.benzinga.com/money/arrived-homes-private-credit-fund"> they all believe in one platform that offers a 7-9% target yield with monthly dividends</a></li>
</ul>

Personal Finance

Suze Orman Says Keep Your Car For '15 Years Or Longer' Instead Of Leasing A New One Every 3 Years Just To Impress Strangers

Friday was a lackluster session on Wall Street, with major U.S. averages lingering in negative territory at midday trading in New York. This session coincided with the simultaneous expiration of a large volume of options and futures contracts, commonly referred <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40959748/exclusive-options-expert-warns-of-terrible-week-after-fridays-triple-witching">to as &#8220;triple witching.&#8221;</a>
However, rather than a sharp spike in volatility, stocks edged only slightly lower, failing to trigger a rise in the CBOE Volatility Index (VIX).
Investor sentiment remained defensive, with 10 out of 11 sectors of the S&amp;P 500 falling, while utilities were the only sector to post a positive performance.
Dovish remarks from Federal Reserve Governor Christopher Waller indicated that he expects &#8220;very low&#8221; August Personal Consumption Expenditure (PCE) data. 
Waller also hinted at the possibility of a 25 basis point rate cut in the next meeting or two if the data continues to come in as expected, with a stronger size of cut if the labor market weakens and inflation softens more rapidly.
Waller's comments sent gold surging past $2,600 per ounce, marking new all-time highs.
Meanwhile, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) remained stable at $63,000.
<h1 class="wp-block-heading">Friday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>Chg (1-day %)</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,015.17</td>
<td>0.0%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,700.41</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,771.36</td>
<td>-0.3%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,237.55</td>
<td> -0.7%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:30 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092024&amp;t=be2bearmibe3na1">Benzinga Pro </a>data: 
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.5% lower to $567.92.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;edged 0.2% down to $420.43.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.3% to $481.96.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.7% to $222.50.</li>
<li>The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) outperformed, up 2.1%. The Industrials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>) lagged, down 0.7%.</li>
</ul>
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
<ul>
<li>FedEx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) tumbled 13.6% on dismal quarterly earnings. </li>
<li>Lennar Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) also reacted to earnings, falling over 4%. </li>
<li>Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) rose over 6%, following the company&#8217;s appointment of Elliot Hill as the new CEO.</li>
</ul>
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</ul>
Wall Street illustration created using artificial intelligence via MidJourney.

Large Cap

Macro Economic Events

Sector ETFs

Broad U.S. Equity ETFs

Economics

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ETFs

SPDR Dow Jones Industrial Average ETF Trust

Wall Street Falls On Triple Witching Day, Fed's Waller Pushes Gold To Fresh Record Highs, FedEx Plummets: What's Driving Markets Friday?

Deutsche Bank analyst Scott Deuschle maintains GE Aero (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) with a Buy and raises the price target from $210 to $212.

Deutsche Bank Maintains Buy on GE Aero, Raises Price Target to $212

American Airlines Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) shares are trading <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">marginally lower on Friday.</a>
The firm is reportedly negotiating to make Citigroup, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>) its exclusive credit card partner, ending its long-standing partnership with Barclays PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCS#NYSE">BCS</a>), which dates back to the airline&#8217;s 2013 acquisition of US Airways, <a href="https://www.cnbc.com/2024/09/20/american-airlines-credit-card-talks-to-pick-citigroup-over-barclays.html" target="_blank" rel="noreferrer noopener">reported</a> CNBC.
In March, Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-03-04/american-air-wants-more-credit-card-revenue-from-bank-partners?sref=TBDibEcD" rel="noreferrer noopener">noted</a> that the airline is renegotiating its contract for co-branded credit cards to increase its share of a vital revenue stream for U.S. carriers.
A spokesperson for Citigroup informed CNBC that the company is continually collaborating with its partners, including American Airlines, to find opportunities to enhance customer products and promote shared value and growth.
Also Read: <a target="_blank" href="https://www.benzinga.com/government/24/09/40745931/delta-southwest-and-other-airlines-in-hot-waters-with-us-transportation-department-for-unfair-reward" rel="noreferrer noopener">Delta, Southwest And Other Airlines In Hot Waters With US Transportation Department For Unfair Rewards Programs</a>
The recent news by CNBC suggests that the company&#8217;s discussions are still underway, and the timing for reaching an agreement, subject to regulatory approval, remains uncertain.
However, chances are there that objections from U.S. regulators, including the Department of Transportation, could potentially delay or even derail a contract between American Airlines and Citigroup, leaving the existing partnership with Barclays unchanged, CNBC flagged.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, AAL stock has lost over 15% in the past year. Investors can gain exposure to the stock via&nbsp;U.S. Global Jets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JETS#NYSE">JETS</a>) and&nbsp;Themes Airlines ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIRL#NASDAQ">AIRL</a>).
Price Action: AAL shares are trading lower by 1.17% to $10.98 at last check Friday.
Photo via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/09/40957619/palantir-wins-deal-worth-multi-million-dollars-to-expand-maven-smart-system-across-us-army-air-f" target="_blank" rel="noreferrer noopener">Palantir Wins Deal Worth Multi-Million Dollars To Expand Maven Smart System Across US Army, Air Force, Space Force &amp; Navy</a></li>
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