Latest news for First Au (OTC:FRSAF) Stock

First Au Ltd is engaged in the exploration of gold and base metals in Western Australia. It Victorian Gold Project and Gimlet Gold Project. The company operates in one reporting segment in Australia which is exploration for gold and base metals.

First Au Ltd

Keefe, Bruyette &amp; Woods analyst Sanjay Sakhrani maintains AvidXchange Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVDX#NASDAQ">AVDX</a>) with a Market Perform and raises the price target from $10 to $12.

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Price Target

Analyst Ratings

AVDX

Keefe, Bruyette & Woods Maintains Market Perform on AvidXchange Holdings, Raises Price Target to $12

D. Boral Capital analyst Jason Kolbert maintains CARISMA Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARM#NASDAQ">CARM</a>) with a Buy and lowers the price target from $24 to $12.

CARM

D. Boral Capital Maintains Buy on CARISMA Therapeutics, Lowers Price Target to $12

WIIM

JD.com shares are trading higher after Bernstein upgraded the stock Market Perform to Outperform and raised its price target from $43 to $46.

Keefe, Bruyette &amp; Woods analyst Sanjay Sakhrani maintains Ally Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>) with a Outperform and raises the price target from $44 to $56.

ALLY

Keefe, Bruyette & Woods Maintains Outperform on Ally Financial, Raises Price Target to $56

JMP Securities analyst Patrick Walravens reiterates Vertex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERX#NASDAQ">VERX</a>) with a Market Outperform and maintains $61 price target.

Reiteration

VERX

JMP Securities Reiterates Market Outperform on Vertex, Maintains $61 Price Target

On Monday, AbbVie&nbsp;Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) revealed topline results from its pivotal Phase 3 TEMPO-2 trial, which evaluated investigational tavapadon as a flexible-dose monotherapy in <a target="_blank" href="https://www.benzinga.com/pressreleases/24/12/n42387710/abbvie-announces-positive-topline-results-for-the-phase-3-tempo-2-trial-evaluating-tavapadon-as-a-" rel="noreferrer noopener">early Parkinson's disease</a>.
Tavapadon is the first and only D1/D5 partial agonist under investigation as a once-daily treatment for Parkinson's disease.
The TEMPO-2 trial evaluated the efficacy, safety and tolerability of a flexible-dose (5 mg to 15 mg, once daily) treatment with tavapadon as a monotherapy in adults with early Parkinson's disease.
Also Read: <a target="_blank" href="https://www.benzinga.com/24/11/42192908/alectorabbvie-partnered-alzheimers-drug-disappoints-in-mid-stage-study-lays-off-17-of-workforce" rel="noreferrer noopener">Alector/AbbVie-Partnered Alzheimer's Drug Disappoints In Mid-Stage Study; Alector Lays Off 17% Of Workforce</a>
The trial met its primary endpoint – patients treated with tavapadon experienced a statistically significant reduction (improvement) from baseline compared to placebo (placebo: -1.2; tavapadon 5-15 mg: -10.3; p-value &lt;0.0001 versus placebo) in the Movement Disorder Society &#8211; Unified Parkinson's Disease Rating Scale (MDS-UPDRS) Parts II and III combined score at week 26.
The MDS-UPDRS was developed to evaluate various aspects of Parkinson's disease including non-motor and motor experiences of daily living and motor complications.
The TEMPO-2 trial also met the key secondary endpoint, demonstrating a statistically significant and clinically meaningful improvement in motor aspects of experiences of daily living (MDS-UPDRS Part II) in the tavapadon group (5-15 mg) compared to placebo at week 26.
The safety profile observed in the TEMPO-2 trial was consistent with prior clinical trials. The majority of adverse events reported were mild to moderate in severity.
Full results from the TEMPO-2 trial will be submitted for presentation at a future medical meeting. AbbVie is on track to submit the New Drug Application to the FDA in 2025.
Last month, AbbVie reported two trials investigating emraclidine as a once-daily, oral monotherapy treatment for adults with schizophrenia failed&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/11/41915173/abbvies-schizophrenia-failure-disappoints-but-analysts-show-confidence-in-immunology-portfolio" rel="noreferrer noopener">two Phase 2 trials</a>.
The studies did not meet their primary endpoint of showing a statistically significant improvement in the change from baseline in the Positive and Negative Syndrome Scale (PANSS) total score compared to the placebo group at week 6.
Price Action: ABBV stock is up 0.86% at $177.71 at last check Monday.
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Photo via Shutterstock

Biotech

Large Cap

Health Care

General

ABBV

AbbVie's Early Parkinson's Candidate Hits Primary Goal In Pivotal Late-Stage Study

Taylor Swift's record-breaking Eras Tour came to an end Sunday night with its final show in Vancouver, Canada. Here's a look back at the most profitable <a href="https://www.benzinga.com/general/entertainment/24/12/42325116/2024-was-worlds-taylor-swift-era-once-again-spotify-reveals-top-artists-songs-albums-podcasts">concert tour in history.&nbsp;</a>
What To Know: Swift's Eras Tour began on March 17, 2023 and spanned over 149 shows across five continents. Each concert featured a runtime of approximately 3.5 hours, with more than 40 songs divided into 10 acts representing each of Swift&#8217;s studio albums.
The Eras Tour is expected to be named the highest-grossing tour of all time, with an estimated gross of more than $2 billion.
Read More: <a href="https://www.benzinga.com/general/social-media/24/12/42378469/anthony-scaramucci-compares-trumps-fbi-pick-kash-patel-to-matt-gaetz">Anthony Scaramucci Compares Trump&#8217;s FBI Pick, Kash Patel, To Matt Gaetz</a>
Record-Breaking Revenue: The positive impact of the Eras Tour on local and national economies has been dubbed the "Swift Effect."&nbsp;&nbsp;
The tour is estimated to have generated close to $5 billion in consumer spending in the U.S. alone, with fans reportedly spending between $1,300 and $1,500 per show on tickets, travel, merchandise and dining, <a href="https://www.washingtonpost.com/business/2023/10/13/taylor-swift-eras-tour-money-jobs/">according </a>to The Washington Post. 
The Federal Reserve Bank of Philadelphia said that Swift's concerts <a href="https://www.federalreserve.gov/monetarypolicy/beigebook202307.htm">drove</a> the strongest month for hotel revenue in Philadelphia since the onset of the pandemic, in large part due to an influx of concertgoers in the city. 
Lyft, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NYSE">LYFT</a>) conducted a <a href="https://www.lyft.com/blog/posts/eras-tour-taylor-swift-economy-local">study </a>across the 23 U.S. cities where Swift performed in 2023 and 2024. The study found that when a city hosted an Eras concert, the number of total Lyft rides went up an average of 8.2% on that day. 
What's Next: Swift released the &#8220;Eras Tour Book&#8221; on Black Friday, exclusively at Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) featuring photos and behind-the-scenes stories and images from the tour. The book sold 814,000 copies over the Black Friday shopping weekend, according to data from Circana<a href="https://apnews.com/article/taylor-swift-eras-book-sales-2024-record-c40605042af98eac2e9a7897a4bc2d73"> reported</a> by the Associated Press.
Swift has reportedly been working on new songs while on tour, with expectations for a new release in 2025. She is also expected to continue re-recording her earlier albums, with "Reputation (Taylor&#8217;s Version)" and her self-titled debut anticipated to be released in 2025.&nbsp;
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</ul>
Image: Shutterstock&nbsp;

Entertainment

LYFT

Taylor Swift's Record-Breaking Eras Tour Wraps: A Look At The Numbers

Real estate mogul and entrepreneur <a href="https://www.benzinga.com/personal-finance/24/10/41198463/grant-cardone-says-you-need-10-million-to-be-considered-rich-1-million-in-retirement-wont-cut-it">Grant Cardone</a> is known to be vocal about his opinions on federal taxes: He doesn't think they should exist. He frequently shares his views on social media and recently posted an Instagram clip where he shared his philosophy on taxes. He uses several strategies to minimize and avoid paying <a href="https://www.benzinga.com/startups/24/12/42258755/cut-federal-taxes-to-zero-says-grant-cardone-heres-why-he-believes-zero-federal-taxes-would-lead-to-age-of-prosperity-and-affluence">federal income taxes</a>. While those strategies may appeal to his audience, some financial experts warn that they may not be practical or safe for most Americans.&nbsp;
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<li>Many are using this retirement income calculator to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a></li>
</ul>
In his Instagram video, Cardone said, "If they (taxes) were zero, this country would rock … I don&#8217;t pay federal taxes. My federal tax bill for the last 20 years, I&#8217;ve paid maybe two years out of 20."&nbsp;
He pointed out that if he doesn't have to pay federal taxes, he'll spend and invest the money, putting it back into the local and national economy.&nbsp;
Cardone criticized the current tax system for repeatedly taxing the same money. He stated that if he earned $1 million, was taxed federally and locally and came away with $500,000 after taxes and he spent that money with another company, that company would be paying taxes on it. After their taxes, the next person or company would pay taxes from what the previous company spent with them – it's an endless cycle that Cardone says could be avoided by eliminating federal taxes.&nbsp;
However, Cardone stated he doesn't mind paying local taxes, like those on cars, property and making purchases. "But there are so many taxes in this country right now, it's unbelievable," he said.
See Also: Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/1milsaved"> The percentage may shock you</a>.
Cardone advocates reinvesting profits and using large write-offs to minimize taxable income – strategies he claims have allowed him to largely avoid <a href="https://www.benzinga.com/personal-finance/24/09/40856616/irs-reclaims-1-3-billion-in-back-taxes-from-wealthy-americans-is-this-just-the-beginning">federal tax obligations</a>.
While these tax-avoiding methods sound enticing, experts argue that Cardone's strategies are tailored for the wealthy and can impose high risks for the average taxpayer. Christopher M. Naghibi, an attorney and executive vice president at First Foundation Bank, has openly criticized Cardone's advice, calling it "self-serving."
"Most of his recommendations conveniently steer people toward services and investments he directly profits from. If it sounds new and sensational, you're probably getting sold something," Naghibi told GoBankingRates.
Naghibi also raised ethical concerns about <a href="https://www.benzinga.com/personal-finance/24/12/42298014/grant-cardone-challenges-taxation-asking-explain-to-me-why-we-need-taxes-when-we-print-money">Cardone's tax strategies</a>. He pointed out that taxes fund essential public services and infrastructure supporting individuals and businesses. Avoiding them, while legal, shifts the financial burden onto others.
Trending: Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">with $1,000 you can invest at just $0.26/share!</a>
Moreover, Cardone's narrative that "the rich don't pay taxes" can be misleading, according to Naghibi. Naghibi emphasized that Cardone's strategies depend on unique resources and connections that most people don't have. "He's asking people without substantial wealth to mimic strategies designed for those with far more resources and financial literacy," he said.
For those seeking financial independence, Naghibi advises focusing on balanced, time-tested strategies. Creating a plan that aligns with personal goals and circumstances is often more effective than following the advice of public figures whose strategies may not be universally applicable.
"By critically evaluating advice – even from someone as compelling as Cardone – you can avoid the traps of aspirational marketing and chart a path to success that truly works for you," Naghibi said.
While Cardone's tax strategies may work for him, experts like Naghibi caution against adopting them without thoroughly understanding the risks and requirements.&nbsp;
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</ul>

Personal Finance

Grant Cardone's Tax Strategies May Hurt You More Than Help, Says Financial Expert

In the current market session, Hormel Foods Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRL#NYSE">HRL</a>) stock price is at $32.28, after a 0.59% drop. However, over the past month, the company's stock spiked by 9.41%, and in the past year, by 5.02%. Shareholders might be interested in knowing whether the stock is overvalued, even if the company is not performing up to par in the current session. 

<img src="https://www.benzinga.com/files/images/story/2024/1733760914_0.png" alt="Past Year Chart" />

<h3>Comparing Hormel Foods P/E Against Its Peers</h3>
The P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E could indicate that shareholders do not expect the stock to perform better in the future or it could mean that the company is undervalued. 
Hormel Foods has a lower P/E than the aggregate P/E of 29.09 of the Food Products industry. Ideally, one might believe that the stock might perform worse than its peers, but it's also probable that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1733760914_1.png" alt="Guage" />

In conclusion, the price-to-earnings ratio is a useful metric for analyzing a company's market performance, but it has its limitations. While a lower P/E can indicate that a company is undervalued, it can also suggest that shareholders do not expect future growth. Additionally, the P/E ratio should not be used in isolation, as other factors such as industry trends and business cycles can also impact a company's stock price. Therefore, investors should use the P/E ratio in conjunction with other financial metrics and qualitative analysis to make informed investment decisions.

Intraday Update

Markets

Price Over Earnings Overview: Hormel Foods

SENS

Senseonics shares are trading higher after the company announced it remains on target to achieve its annual growth of approximately 50% in its patient-installed base.

JMP Securities analyst Mitch Germain reiterates Terreno Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRNO#NYSE">TRNO</a>) with a Market Outperform and maintains $72 price target.

TRNO

JMP Securities Reiterates Market Outperform on Terreno Realty, Maintains $72 Price Target

Keefe, Bruyette &amp; Woods analyst Ryan Krueger upgrades Equitable Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQH#NYSE">EQH</a>) from Market Perform to Outperform and raises the price target from $54 to $58.

Upgrades

Keefe, Bruyette & Woods Upgrades Equitable Hldgs to Outperform, Raises Price Target to $58

The cannabis sector's Q3 performance has been a mixed bag, but two companies stood out for their exceptional financial performance: Green Thumb Industries (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTC">GTBIF</a>) and Glass House Brands (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GLASF#OTC">GLASF</a>).&nbsp;
Both delivered top-tier results, ranking in the top five for key financial metrics, including adjusted EBITDA, operating cash flow, and free cash flow.&nbsp;
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can't afford to miss out if you&#8217;re serious about the business.</li>
</ul>
<h3 class="wp-block-heading">Leading The Pack: GTI And Glass House Top Rankings Across Key Financial Metrics</h3>
Green Thumb and Glass House have emerged as leaders in Q3, securing top-five spots across all four critical margin metrics: adjusted EBITDA, operating cash flow, free cash flow, and operating margin. This means that both Green Thumb and Glass House are not only generating strong profits but also effectively managing their cash flow and operational costs
Other companies that performed well include Grown Rogue (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GRUSF#OTC">GRUSF</a>), which repeated its strong results in adjusted EBITDA and operating cash flow, and Vext Science (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VEXTF#OTC">VEXTF</a>), which made a significant leap into the top five for both metrics.&nbsp;
According to a December 5 report from <a href="https://beaconsecurities.ca/">Beacon Securities</a>, Vext has moved into the top five for both adjusted EBITDA and operating cash flow, thanks to strong operational improvements and a focus on cost efficiency. The company's growth was driven by expanding its market presence and optimizing its business structure to improve overall profitability.
Read Also: <a href="https://www.benzinga.com/general/market-summary/24/12/42372053/europe-says-thanks-but-well-do-it-ourselves-canada-leads-in-raw-cannabis-exports-not-oil">Europe Says Thanks But We&#8217;ll Do It Ourselves &#8211; Canada Leads In Raw Cannabis Exports, Not Oil</a>
<h3 class="wp-block-heading">Tax Strategies And Market Trends Enhance Cash Flow</h3>
A key theme in the Q3 report is the ongoing role of tax strategies in enhancing operating <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39609582/europe-is-turning-cash-flow-positive-well-see-what-happens-in-the-u-s-largest-canna">cash flow</a>. A notable 85% of the companies analyzed achieved positive adjusted EBITDA for the quarter, an increase from 81% in Q2.&nbsp;
The benefits of tax reforms, including moves to reduce 280E tax obligations, were evident as 65% of companies reported positive operating cash flow after working capital, up from 59% in Q2. These tax maneuvers have allowed operators to release working capital and generate higher cash flow, a crucial advantage in an industry where cash is king.
However, not all companies were able to convert EBITDA to <a href="https://www.benzinga.com/24/12/42323140/decibel-cannabis-one-acquisition-could-be-the-key-to-unlocking-20-million-in-cash-flow">operating cash flow</a> as efficiently.&nbsp;
<a href="https://www.benzinga.com/topic/beacon-securities-limited">Beacon's analyst</a> noted only 15 out of 26 operators were successful in making this conversion on a trailing twelve-month basis, a decline from 19 in Q2. Planet 13 (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PLNH#OTC">PLNH</a>) and Trulieve (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) were among the leaders in converting EBITDA into positive cash flow, partly due to favorable tax strategies.
Read Also:<a href="https://www.benzinga.com/24/12/42373720/deas-cannabis-rescheduling-hearing-set-to-begin-in-january-2025-as-controversy-mounts"> DEA&#8217;s Cannabis Rescheduling Hearing Set To Begin In January 2025 As Controversy Mounts</a>
<h3 class="wp-block-heading">Industry Outlook: Will The Momentum Continue?</h3>
Looking forward, the cannabis industry faces the challenge of maintaining positive cash flow in the face of rising costs and margin pressures. While the third quarter saw positive cash flow for many operators, seasonality and <a href="https://www.benzinga.com/24/11/42224446/the-hidden-cost-of-legal-weed-why-marijuana-taxes-are-hitting-your-wallet-harder-than-you-think">tax</a> strategy releases likely played a significant role in the improvement. As the year progresses, companies will need to stay focused on tax optimization and cost control to sustain profitability in an increasingly competitive market.
Read Next: <a href="https://www.benzinga.com/24/12/42373838/organigram-wants-to-become-canadas-largest-cannabis-company-by-market-share-via-up-to-71m-worth-of-acquisition-deal">Organigram Wants To Become Canada&#8217;s Largest Cannabis Company By Market Share Via $71M Acquisition Deal</a>

Analyst Color

Cannabis

Market Summary

Guidance

Small Cap Analysis

Financing

Small Cap

Management

Success Stories

Trading Ideas

GLASF

GRUSF

GTBIF

PLNH

TCNNF

VEXTF

85% Of Cannabis Companies Report Positive Earnings, But Not All Are Winning - See Who's Leading

LTRN

Lantern Pharma shares are trading higher after the company announced it has enrolled its first patient in Taiwan for the Phase 2 HARMONIC trial of LP-300.

JMP Securities analyst Devin Ryan reiterates Charles Schwab (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) with a Market Outperform and raises the price target from $84 to $94.

SCHW

JMP Securities Reiterates Market Outperform on Charles Schwab, Raises Price Target to $94

On Saturday, Beam Therapeutics Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEAM#NASDAQ">BEAM</a>) revealed new safety and efficacy data from its BEACON Phase 1/2 trial of BEAM-101 in patients with sickle cell disease (SCD) with severe <a target="_blank" href="https://www.benzinga.com/pressreleases/24/12/g42378289/beam-therapeutics-announces-new-data-from-beacon-phase-12-clinical-trial-of-beam-101-in-sickle-cel" rel="noreferrer noopener">vaso-occlusive crises (VOCs)</a>.
The data were featured at the American Society of Hematology (ASH) Annual Meeting and Exposition.
Consistent with Beam&#8217;s&nbsp;previously announced&nbsp;data, updated data from seven patients treated with investigational base-editing therapy BEAM-101 demonstrated robust and durable increases in fetal hemoglobin (HbF) and reductions in sickle hemoglobin (HbS), rapid neutrophil and platelet engraftment, and normalized or improved markers of hemolysis.
No VOCs were reported post-engraftment.
Key highlights include the following:
<ul>
<li>Rapid and Sustained Increases in Protective Fetal Hemoglobin (HbF): All patients achieved endogenous HbF levels exceeding 60% and reduction in corresponding sickle hemoglobin (HbS) below 40% that was durable. A pancellular distribution of HbF was observed after the elimination of transfused blood.</li>
<li>Robust and Sustained Total Hemoglobin (Hb) Levels: Total hemoglobin levels increased rapidly with a resolution of anemia in patients after the elimination of the transfused blood.</li>
<li>Normalization of Hemolysis Markers: Key markers of hemolysis, including indirect bilirubin, haptoglobin, lactate dehydrogenase and reticulocytes, normalized or improved in all patients following BEAM-101 treatment.</li>
<li>Safety Profile Consistent with Busulfan and Autologous Hematopoietic Stem Cell Transplantation.</li>
</ul>
In November, the company said that one patient died due to respiratory failure likely related to busulfan conditioning four months after BEAM-101 infusion. However, the investigator determined that the death was <a target="_blank" href="https://www.benzinga.com/general/biotech/24/11/41756981/gene-therapy-developer-beam-therapeutics-reports-one-patient-death-in-early-stage-sickle-cell-dis" rel="noreferrer noopener">unrelated to BEAM-101</a>.
On Sunday, Beam Therapeutics announced new data for its Engineered Stem Cell Antibody Evasion (ESCAPE) conditioning platform, which was presented at the American Society of Hematology Annual <a target="_blank" href="https://www.benzinga.com/pressreleases/24/12/g42380675/beam-therapeutics-presents-new-non-human-primate-nhp-data-demonstrating-proof-of-concept-for-escap" rel="noreferrer noopener">Meeting and Exposition</a>.
ESCAPE comprises two investigational drug products, BEAM-103 and BEAM-104. The company intends to advance BEAM-103 and BEAM-104 for development in sickle cell disease and beta-thalassemia.
In the preclinical study, administration of the BEAM-104 edited cells to antibody-conditioned animals led to long-term engraftment.
Dosing with the BEAM-103 mAb led to rapid and near complete replacement of wild-type erythroid cells by edited cells, leading to early induction of therapeutically relevant levels of HbF.
BEAM-103 dosing was well tolerated, with no need for transfusions, antibiotics, or additional supportive care.
William Blair writes, &#8220;While the patient death is unfortunate, we see the event as highlighting the need for less-toxic preconditioning options, and we think Beam is leading the space in this regard.&#8221;
Price Action: At last check on Monday, BEAM stock was up 0.52% at $26.89.
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</ul>

BEAM

Beam Therapeutics Unveils New Safety, Efficacy Data From Sickle Cell Disease Candidate, Stock Gains

D. Boral Capital analyst Jason Kolbert maintains Artelo Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARTL#NASDAQ">ARTL</a>) with a Buy and maintains $6 price target.

ARTL

D. Boral Capital Maintains Buy on Artelo Biosciences, Maintains $6 Price Target

VIRC

Virco Manufacturing shares are trading lower after the company reported a year-over-year decrease in Q3 financial results.

Tech experts seemed to downplay Chinese regulators&#8217; investigation into Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) over an alleged <a href="https://www.benzinga.com/government/regulations/24/12/42389113/nvidia-hit-with-antitrust-probe-in-china-stock-slides">breach of antitrust regulations</a>.
What Happened: The Chinese State Administration for Market Regulation claims that the Santa Clara, California-based company violated its obligations while acquiring Mellanox Technologies in 2020.
The news comes amid President-elect Donald Trump&#8216;s continued insinuations that <a href="https://www.benzinga.com/personal-finance/24/12/42367505/economists-warn-trumps-tariffs-on-canada-mexico-and-china-could-hurt-your-budget-more-than-help-it">he will raise tariffs</a> against Chinese goods. Domestic importers pay tariffs by passing the burden to consumers via price hikes.
&#8220;Zero surprises here that $NVDA is being investigated in China,&#8221; analyst Patrick Moorhead said <a href="https://x.com/PatrickMoorhead/status/1866093252929061056">on</a> X. &#8220;Comes with the 90+% market territory in a vital commodity. These things take 5-10 years to sort through. Quicker in China, but still very slow. All regions will be investigating Nvidia on datacenter GPUs at some point.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Zero surprises here that <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a> is being investigated in China. Comes with the 90+% market territory in a vital commodity. These things take 5-10 years to sort through. Quicker in China, but still very slow. All regions will be investigating Nvidia on datacenter GPUs at some… <a href="https://t.co/9SuGXdzKQj">pic.twitter.com/9SuGXdzKQj</a>
&mdash; Patrick Moorhead (@PatrickMoorhead) <a href="https://twitter.com/PatrickMoorhead/status/1866093252929061056?ref_src=twsrc%5Etfw">December 9, 2024</a></blockquote>
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Industry analyst Daniel Newman shared a similar sentiment, adding that any allegations of anti-competitive behavior are unfounded.
&#8220;There is no meaningful proof to date that Nvidia is abusing its dominant market position or its competitive advantage to stifle competition or harm consumers,&#8221; Newman said. &#8220;There have been anecdotal stories that have floated around, but at this point, it is all speculative.&#8221;
Angela Zhang, a law professor at the University of Southern California, said that China may &#8220;weaponize&#8221; antitrust against the U.S.
&#8220;When I wrote &#8216;Chinese Antitrust Exceptionalism&#8217;, I explained how antitrust law can be wielded as a weapon against U.S. sanctions and restrictions,&#8221; Zhang <a href="https://x.com/AngelaZhangHK/status/1866118507672568116">posted</a> on X. &#8220;Over the past few years, we've seen this play out repeatedly as the U.S. doubles down on its AI chip embargo on China. Nvidia seems to be the latest example.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">When I wrote &quot;Chinese Antitrust Exceptionalism&quot;, I explained how antitrust law can be wielded as a weapon against U.S. sanctions and restrictions. Over the past few years, we've seen this play out repeatedly as the U.S. doubles down on its AI chip embargo on China. Nvidia seems…
&mdash; Angela Zhang (@AngelaZhangHK) <a href="https://twitter.com/AngelaZhangHK/status/1866118507672568116?ref_src=twsrc%5Etfw">December 9, 2024</a></blockquote>
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Price Action: Shares of Nvidia fell nearly 3% following the news on Monday.
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