Short interest for Fitell gives investors a sense of the degree to which investors are betting on the decline of Fitell's stock. Short interest data is updated every two weeks.

Fitell Stock (NASDAQ:FTEL), Short Interest Report

Fitell

Fitell Corp engages in primary operations of selling gym and fitness equipment in Australia through its indirectly held wholly owned subsidiaries. It operates in two segments: online fitness equipment distribution and licensing business to service the large and growing boutique fitness sector of the broader health and fitness club industry. The majority fitness equipment business is conducted in Australia via its own e-commerce platform and, through third-party sites. Licensing service offers a turnkey solution for personal training studios and commercial gym chains.

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Why Clever Leaves Holdings Shares Are Trading Lower By Around 60%? Here Are Other Stocks Moving In Monday&#39;s Mid-Day Session

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Intelligent Bio Solutions Inc. - Common Stock

INBS

Airspan Networks Holdings Inc. Common Stock

MIMO

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Shares of CommScope Holding Company, Inc. (NASDAQ: COMM) fell sharply during Monday’s session.

B of A Securities analyst Tal Liani downgraded CommScope from Neutral to Underperform and lowered the price target from $2.1 to $2.

CommScope shares dipped 6.9% to $2.2150 on Monday.

Why CommScope Shares Are Trading Lower By Around 7%? Here Are Other Stocks Moving In Monday&#39;s Mid-Day Session

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Kintara Therapeutics, Inc. - Common Stock

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Shares of Airspan Networks Holdings Inc. (NASDAQ: MIMO) shares rose sharply during Wednesday’s session after the company announced a partnership with GCT Semiconductor to develop an RF module.

Airspan Networks Holdings shares surged 381% to $0.3699 on Wednesday.

Why Airspan Networks Shares Are Trading Higher By Over 380%? Here Are Other Stocks Moving In Wednesday&#39;s Mid-Day Session

Fitell Corp

With Apple, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) <a href="https://www.benzinga.com/news/earnings/24/05/38599545/apple-q2-earnings-beats-muted-forecast-on-services-mac-strength-installed-base-at-fresh-record-cupe">better-than-expected March quarter results</a>, investor attention would now shift toward Cupertino&#8217;s AI strategy, according to a bullish analyst.
Welcome Relief: Apple&#8217;s guidance for year-over-year growth returning in the June quarter allowed bulls to breathe a sigh of relief, said Wedbush analyst Daniel Ives in a note. 
The analyst expects China&#8217;s iPhone unit growth to slowly turn from a headwind to a tailwind ahead of the start of the AI-driven iPhone 16 supercycle, starting in September.
The focus over the next month will, however, be on Apple&#8217;s AI reveal at the June annual World Wide Developer Conference, said Ives. The product cycle of the year will likely include new iPads, set to be announced on Tuesday, 
&#8220;We believe the June quarter will be the end of this growth doldrums period as Apple starts to see a renaissance of growth heading into the September quarter and FY25,&#8221; Ives said. 
See Also: <a href="https://www.benzinga.com/money/best-artificial-intelligence-stocks">Best Artificial Intelligence Stocks</a>
Potential AI Pursuits: Apple&#8217;s potential incorporation of <a href="https://www.benzinga.com/news/24/04/38086575/iphone-16-rumors-roundup-everything-we-know-about-apples-next-flagship">generative AI into the iPhone 16,</a> according to the analyst, will mark the &#8220;start of a new frontier of growth for the golden installed base of Cupertino,&#8221; the analyst said. 
&#8220;This will be an aggressive and no holds barred strategy around AI and making sure Apple monetizes this technology both from the Services front while catalyzing upgrades with iPhone 16 being the first Apple iPhone with its new AI exclusive features,&#8221; he said.
The analyst sees the launch of a separate AI App Store, which would be the foundational launching pad for developers and consumers tapping into AI.
&#8220;In a nutshell, we believe the worst is in the rearview mirror for Apple,&#8221; he said.
Wedbush has an Outperform rating and a $250 price target for Apple stock.
Apple ended Monday&#8217;s session down 0.91% at $181.71, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a>
Read Next: <a href="https://www.benzinga.com/markets/equities/24/05/38660790/is-apple-back-in-the-ev-game-tech-giant-reportedly-eyes-rivian-partnership">Is Apple Back In The EV Game? Tech Giant Reportedly Eyes Rivian Partnership</a>
Image via Shutterstock

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AAPL

Apple Will Pursue 'Aggressive And No Holds Barred Strategy Around AI,' Says Bullish Analyst: 'Worst Is In Rearview Mirror'

Tesla Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) <a href="https://www.benzinga.com/government/24/04/38039010/tesla-semi-ready-to-replace-diesel-trucks-says-unit-head-as-he-cheers-epas-tough-new-standards" target="_blank" rel="noreferrer noopener">Semi trucks</a> are gaining traction with major customers, even though mass production hasn&#8217;t begun. The company reportedly has secured its third significant client from the S&amp;P 500.
Costco Joins the Roster?&nbsp;On Monday, Tesla investor and influencer&nbsp;Sawyer Merritt&nbsp;shared a post on Twitter featuring a video of a Tesla Semi emblazoned with the&nbsp;Costco Wholesale Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>) logo in Santa Cruz, California. It remains unclear whether the Semi is undergoing testing or has been purchased by the retail giant. Costco has not yet responded to Benzinga&#8217;s request for comment
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Tesla semi at Costco in Santa Cruz. Driver loved the drive over highway 17. And down it! <a href="https://t.co/0oVWnFNQY8">pic.twitter.com/0oVWnFNQY8</a>
&mdash; Joaquin (@Joaquin03114400) <a href="https://twitter.com/Joaquin03114400/status/1787650741307576702?ref_src=twsrc%5Etfw">May 7, 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>
Following 2 Giants:&nbsp;This development comes close on the heels of another&nbsp;<a target="_blank" href="https://www.benzinga.com/general/social-media/24/05/38649736/tesla-semi-with-walmart-branding-spotted-whats-next-for-ev-giants-push-into-semi-trucks" rel="noreferrer noopener">Tesla&nbsp;Semi sighting</a>, this time with&nbsp;Walmart Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) branding at an undisclosed U.S. location. Walmart has placed a large order for Tesla Semis, but the number of delivered units remains unknown.
PepsiCo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) confirmed to Benzinga in January that they currently operate 36 Tesla Semis across their Frito-Lay facility in Modesto, California, and their beverage facility in Sacramento, California. Earlier this year, Pepsi also said that the Tesla Semi achieved a test milestone of <a href="https://www.benzinga.com/news/24/01/36796670/pepsico-says-its-tesla-semi-surpassed-1-000-miles-in-single-day-haul" target="_blank" rel="noreferrer noopener">exceeding 1,000 miles</a> in a single day.
Why It Matters:&nbsp;During its first-quarter earnings call, Tesla stated that Semi deliveries are expected to&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38395098/tesla-unveils-timeline-for-electric-semi-truck-production-first-units-to-external-customers-by-2" rel="noreferrer noopener">begin in late 2025</a>&nbsp;and continue into 2026. The company also anticipates increased Semi production with the expansion of Gigafactory Nevada.&nbsp;
Tesla&#8217;s Vice President of Vehicle Engineering,&nbsp;Lars Moravy, confirmed that the engineering phase of the Semi is nearing completion, paving the way for high-volume production.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/05/38660790/is-apple-back-in-the-ev-game-tech-giant-reportedly-eyes-rivian-partnership" target="_blank" rel="noreferrer noopener">Is Apple Back In The EV Game? Tech Giant Reportedly Eyes Rivian Partnership</a>
Photo courtesy: Tesla

Rumors

COST

Tesla Semi Scores Another S&P 500 Name After Pepsi And Walmart? Video Shows Big-Box Retailer Using EV Giant's Heavy Truck

During the go-shop period, AdTheorent received one acquisition proposal (the &quot;Go-Shop Proposal&quot;) from a third-party (the &quot;Go-Shop Party&quot;), pursuant to which the Go-Shop Party proposed to acquire all outstanding shares of AdTheorent common stock for&nbsp;$3.35&nbsp;per share in cash.&nbsp;

ADTH

Reported Earlier, AdTheorent Announces End of Go-Shop Period With New Acquisition Proposal On The Table, Amidst CadOnt's $324M Merger Deal

Elon Musk's AI-powered chatbot, Grok has apparently started predicting the future as it summarizes Apple Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) <a href="https://www.benzinga.com/news/24/04/38135554/apple-preps-biggest-ipad-overhaul-in-years-after-18-months-pause-with-new-pro-air-models">upcoming launch of new</a> iPad products.&nbsp;
What Happened: Earlier this week, Grok started summarizing personalized trending stories on X, formerly Twitter. The feature essentially allows Premium subscribers to read a news summary, so that they can get an overview of the information.&nbsp;
However, the AI chatbot seems to <a href="https://www.benzinga.com/news/24/03/37559453/godfather-of-ai-explains-why-chatgpt-copilot-and-other-ai-chatbots-hallucinate">suffering from the same "hallucination"</a> that has been a consistent problem with its competitors like ChatGPT.&nbsp;
On Monday, popular tech YouTuber Marques Brownlee, also known as MKBHD, shared a screenshot of one such summary generated by Grok. The chatbot not only predicted the entire Apple event which is scheduled for Tuesday, but also sparked a discussion in the comment section.&nbsp;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38659381/elon-musk-meets-bitcoin-supporting-president-javier-milei-again-i-recommend-investing-in-a">Elon Musk Meets Bitcoin-Supporting President Javier Milei Again: &#8216;I Recommend Investing In Argentina&#8217;</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">LOL @ Twitter&#39;s trending topics being summarized by Grok, and just straight up predicting the entire Apple event tomorrow <a href="https://t.co/aet1h2Dwew">pic.twitter.com/aet1h2Dwew</a>
&mdash; Marques Brownlee (@MKBHD) <a href="https://twitter.com/MKBHD/status/1787553324243259718?ref_src=twsrc%5Etfw">May 6, 2024</a></blockquote>
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In fact, one more user shared Grok's prediction about Apple's 2025 event about the iPhone 17.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">That's rookie stuff. It already predicted the 2025 event &#x1f602; <a href="https://t.co/A613HFD5xh">pic.twitter.com/A613HFD5xh</a>
&mdash; X Daily News (@xDaily) <a href="https://twitter.com/xDaily/status/1787559988484886879?ref_src=twsrc%5Etfw">May 6, 2024</a></blockquote>
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</figure>
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Why It Matters: In the comment section, some social media users also joked about Brownlee's critique of Grok. One person shared a meme saying, "Sir, @MKBHD is about to murder Grok. Tell @elonmusk."
<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">"Sir, <a href="https://twitter.com/MKBHD?ref_src=twsrc%5Etfw">@MKBHD</a> is about to murder Grok. Tell <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a>" <a href="https://t.co/Ct4kNbcvgs">pic.twitter.com/Ct4kNbcvgs</a>
&mdash; Rob &#x7C; Part Time Investor (PTI) (@InvestingRob) <a href="https://twitter.com/InvestingRob/status/1787553636593410399?ref_src=twsrc%5Etfw">May 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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The joke <a href="https://www.benzinga.com/news/24/04/38291724/do-bad-reviews-kill-companies-mkbhd-reacts-after-humane-ai-pin-video-sparks-concern-on-social-media">stemmed from Brownlee's review</a> of Humane AI Pin titled&nbsp; &#8220;The Worst Product I&#8217;ve Ever Reviewed… For Now.&#8221; Some people argued about the impact of his influence on emerging companies, saying it could kill the startup that made the product.&nbsp;
Meanwhile, Apple is set to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38634293/apple-should-turn-this-device-into-laptop-replacement-says-mark-gurman-the-days-of-">launch new iPads on Tuesday</a>, which include 11-inch and 12.9-inch OLED iPad Pro models with M4 chips, and 11-inch and an enlarged 12.9-inch iPad Air with M2 chips.
Photo courtesy: Shutterstock
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/05/38659002/elon-musk-talks-immigration-starlink-mars-aliens-and-more-at-mi-global-if-you-have-to-die-somewhere">Elon Musk Talks Immigration, Starlink, Mars, Aliens, And More At MI Global: &#8216;If You Have To Die Somewhere, Might As Well Be Mars&#8217;</a>

Social Media

Elon Musk's Grok Generates Summary Of An Entire Apple Event That Has Yet To Take Place, X User Wants To Know If MKBHD Will Now 'Murder' The AI Chatbot

The Offering consists of 1,500,000 common shares and warrants to purchase 1,500,000 common shares. Each common share is to be sold together with one warrant at a combined public offering price of&nbsp;US$1.55, for gross proceeds of approximately&nbsp;US$2.3 million&nbsp;before deducting underwriting discounts and offering expenses. The warrants will have an exercise price of approximately&nbsp;US$1.82&nbsp;per share, are exercisable immediately and will expire three years following the date of issuance.&nbsp; In addition, the Company granted the underwriter a 45-day option to purchase up to an additional&nbsp;5 percent&nbsp;of the number of common shares and/or warrants offered in the Offering.&nbsp;

Reported Earlier, GreenPower Motor Company Prices $2.3M Public Offering Of Shares And Warrants

Helius Medical Technologies&nbsp;a neurotech company focused on delivering a novel therapeutic neuromodulation approach for balance and gait deficits, today announced the pricing of a public offering of 804,999 shares of its Class A common stock&nbsp;and 2,047,222 Pre-Funded Warrants, each to purchase one share of Common Stock, together with accompanying Series A and Series B warrants to purchase up to an aggregate of 5,704,442 shares of Common Stock.
The public offering price per share of Common Stock and accompanying Series A and Series B warrants is $2.25 and the public offering price per Pre-Funded Warrant and accompanying Series A and Series B warrant is $2.249, resulting in gross proceeds of approximately $6.4 million before deducting the placement agent&#39;s fees and other estimated offering expenses. The Series A warrants to purchase up to an aggregate of 2,852,221 shares of Common Stock will have an exercise price of $2.25 per share, will be exercisable immediately following the date of issuance and will expire five years from the original issuance date. The Series B warrants to purchase up to an aggregate of 2,852,221 shares of Common Stock will have an exercise price of $2.25 per share, will be exercisable immediately following the date of issuance and will expire twelve months from the original issuance date.

HSDT

Reported Earlier, Helius Medical Technologies Prices $6.4M Public Offering Of 804,999 Class A Common Shares And 2,047,222 Pre-Funded Warrants

&nbsp;Southern Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>) today announced the pricing of&nbsp;$1.3 billion&nbsp;in aggregate principal amount of its Series 2024A&nbsp;4.50%&nbsp;Convertible Senior Notes due&nbsp;June 15, 2027&nbsp;(the &quot;Convertible Notes&quot;) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the &quot;Securities Act&quot;), reflecting an upsize of&nbsp;$200 million&nbsp;over the previously announced offering size

Reported Earlier, Southern Company Upsizes And Prices Its $1.3B In Series 2024A 4.50% Convertible Senior Notes, Due June 15, 2027

Strong first quarter performance, with net sales1 of USD 2.5 billion, up 6% in constant currencies &nbsp;(up 5% in USD)
&minus; Biosimilar business growing 21% in constant currencies &nbsp;
&minus; All regions contributing to growth
&minus; Acquisition of CIMERLI&reg; (ranibizumab-eqrn) completed in March 2024

SDZNY

Sandoz Q1 Sales $2.492B Up From $2.384B YoY

Major cryptocurrencies witnessed a drop on Monday as another top cryptocurrency company stared at an enforcement action by U.S. regulators.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded 12:00 a.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-1.01%</td>
<td>$63,702</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td>
<td>-2.46%</td>
<td>$3,086</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>-4.36%</td>
<td>$0.15</td>
</tr>
</tbody>
</table>
</figure>
What Happened: World's largest digital asset by market cap, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), failed to sustain its recent climb to $65,000, falling back to the $63,000 zone.&nbsp;
The price slump liquidated nearly $215 worth of positions in the last 24 hours, with long liquidations accounting for 68% of the total. Notably, Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) led the chart with over $67 million in liquidations, followed by Bitcoin at $54.71 million.
The Open Interest in Bitcoin futures slipped 1.68% in the last 24 hours to $30 billion.&nbsp;
The negative sentiment was triggered after brokerage firm Robinhood Markets Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) revealed that its <a href="https://www.benzinga.com/government/24/05/38647248/sec-nudges-robinhood-over-crypto-operations">crypto arm received a Wells Notice</a> from the SEC, a precursor to a likely enforcement action by the regulator.&nbsp;
Top Gainer (24 Hour)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded 12:00 a.m. EDT)</td>
</tr>
<tr>
<td>AIOZ Network (AIOZ)</td>
<td>+26.85%</td>
<td>$0.7527</td>
</tr>
<tr>
<td>Solana (SOL)</td>
<td>+13.77%</td>
<td>$156.6</td>
</tr>
<tr>
<td>Kaspa (KAS)</td>
<td>+10.89%</td>
<td>$0.1121</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market cap now stands at $2.34 trillion, declining by 1.39% in 24 hours.
Stocks traded higher on Monday. The Dow Jones Industrial Average closed at 38,852.27 points, witnessing an uptick of 1.46%. The S&amp;P 500 rose 1.03% to end the trading session at 5,180.74 points. The tech-heavy Nasdaq Composite spiked 1.19% to 16,349.25 points at the closing bell.&nbsp;
Weaker-than-expected U.S. jobs report from April was catalyzing the market, keeping investors' hopes high for an interest rate cut by the Federal Reserve.&nbsp;
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: According to 10x Research, Bitcoin and Ethereum have become highly correlated, with Ethereum's lackluster performance weighing heavily on the king coin.&nbsp;
"Ethereum's weak fundamentals are becoming a roadblock for Bitcoin as they prevent broad fiat inflow into the crypto ecosystem."
<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">What's going on with <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a>? Should we even care? &#x1f447;1-14) Ethereum remains this cycle's basket case. Surprisingly, BTC and ETH remain highly correlated, with an R-square of 95%. Ethereum's weak fundamentals are becoming a roadblock for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> as they prevent broad fiat… <a href="https://t.co/GlwnZGsQKX">pic.twitter.com/GlwnZGsQKX</a>
&mdash; 10x Research (@10x_Research) <a href="https://twitter.com/10x_Research/status/1787671012039155903?ref_src=twsrc%5Etfw">May 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Cryptocurrency analyst Michael van de Poppe predicted a bullish pivot for the altcoins in the next few months.&nbsp;
He said, "Great close for the weekly candle on the altcoin market capitalization. Expecting that this will be testing ATH in the coming 3-5 months."
<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">Great close for the weekly candle on the <a href="https://twitter.com/hashtag/Altcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoin</a> market capitalization. Expecting that this will be testing ATH in the coming 3-5 months. <a href="https://t.co/hW4kbTkTom">pic.twitter.com/hW4kbTkTom</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1787487481710956576?ref_src=twsrc%5Etfw">May 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38659381/elon-musk-meets-bitcoin-supporting-president-javier-milei-again-i-recommend-investing-in-a">Elon Musk Meets Bitcoin-Supporting President Javier Milei Again: &#8216;I Recommend Investing In Argentina&#8217;</a>

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

Cryptocurrency

$BTC

$DOGE

$ETH

HOOD

Bitcoin, Ethereum, Dogecoin Dip After Robinhood Gets Wells Notice From SEC — Analyst Says ETHs Weak Fundamentals A 'Roadblock' For King Crypto

Outlook
Although monetary easing is expected in the Eurozone, the US and Switzerland, the timing and magnitude of rate cuts by central banks are unclear, as inflation remains above their target range. In addition, the ongoing geopolitical tensions, combined with consequential elections in several major economies, continue to create uncertainty regarding the macroeconomic and geopolitical outlooks.
In the second quarter of 2024, we expect a low-to-mid single-digit decline in net interest income in Global Wealth Management, due to moderately lower lending and deposit volumes and lower interest rates in Switzerland, partly offset by additional revenues, primarily from higher US dollar rates, combined with our repricing efforts. We expect a mid-to-high single-digit decrease in net interest income in Personal &amp; Corporate Banking in US dollar terms, as the Swiss central bank's interest rate cut in March 2024 takes effect for a full quarter. In line with our strategy to actively reduce assets and costs in Non-core and Legacy, we continue to expect revenues in the closing out of any positions to approximately reflect their current book value. We also expect our reported revenues to include around USD 0.6bn of pull-to-par and other PPA accretion effects, while we incur around USD 1.3bn of integration-related expenses. The tax rate for the second quarter is expected to return to more elevated levels, with our effective tax rate still expected to be around 40% by the end of 2024.

Earnings

Guidance

UBS Group Fro Q2 Expect A Low-To-Mid Single-Digit Decline In Net Interest Income In Global Wealth Management; Mid-To-High Single-Digit Decrease In Net Interest Income In Personal & Corporate Banking

UBS Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>) reported quarterly earnings of $0.52 per share which beat the analyst consensus estimate of $0.24 by 116.67 percent. This is a 62.5 percent increase over earnings of $0.32 per share from the same period last year. The company reported quarterly sales of $12.739 billion which beat the analyst consensus estimate of $12.017 billion by 6.01 percent. This is a 45.69 percent increase over sales of $8.744 billion the same period last year.

Earnings Beats

UBS Gr Q1 2024 GAAP EPS $0.52 Beats $0.24 Estimate, Sales $12.739B Beat $12.017B Estimate

Outlook &amp; Guidance 2Q 2024 guidance &bull; Looking ahead, bp expects second quarter 2024 reported upstream&#x2A; production to be slightly lower compared with first-quarter 2024. &bull; In its customers business, bp expects seasonally higher volumes and fuels margin to remain sensitive to movements in the cost of supply. &bull; In products, bp expects realized margins to be impacted by narrower North American heavy crude oil differentials, and to remain sensitive to relative movements in product cracks. In addition, bp expects the absence of the first quarter plant-wide power outage at the Whiting refinery to be partly offset by a higher level of turnaround activity. &nbsp;2024 guidance In addition to the guidance on page 2: &bull; bp continues to expect both reported and underlying upstream production&#x2A; to be slightly higher compared with 2023. Within this, bp continues to expect underlying production from oil production &amp; operations to be higher and production from gas &amp; low carbon energy to be lower. &bull; In its customers business, bp continues to expect growth from convenience, including a full year contribution from TravelCenters of America; a stronger contribution from Castrol underpinned by volume growth in focus markets; and continued margin growth from bp pulse driven by higher energy sold. In addition, bp continues to expect fuels margin to remain sensitive to the cost of supply. &bull; In products, bp continues to expect a lower level of industry refining margins, with realized margins impacted by narrower North American heavy crude oil differentials. bp continues to expect refinery turnaround activity to have a similar impact on both throughput and financial performance compared to 2023, with phasing of activity in 2024 heavily weighted towards the second half. &bull; bp continues to expect the other businesses &amp; corporate underlying annual charge to be around $1.0 billion for 2024. The charge may vary from quarter to quarter. &bull; bp continues to expect the depreciation, depletion and amortization to be slightly higher than 2023. &bull; bp continues to expect the underlying ETR&#x2A; for 2024 to be around 40% but it is sensitive to the impact that volatility in the current price environment may have on the geographical mix of the group&rsquo;s profits and losses. &bull; bp continues to expect capital expenditure&#x2A; for 2024 to be around $16 billion, but now expects the phasing to be split broadly evenly between the first half and the second half. &bull; bp continues to expect divestment and other proceeds of $2-3 billion in 2024, weighted towards the second half. Having realized $18.2 billion of divestment and other proceeds since the second quarter of 2020, bp continues to expect to reach $25 billion of divestment and other proceeds between the second half of 2020 and 2025. &bull; bp continues to expect Gulf of Mexico oil spill payments for the year to be around $1.2 billion pre-tax including $1.1 billion pre-tax paid during the second quarter.

BP For 2Q Expects Reported Upstream Production To Be Slightly Lower Compared Q1; For Fiscal 2024 Continues To Expect Both Reported And Underlying Upstream Production To Be Slightly Higher Compared With 2023

BP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) reported quarterly earnings of $0.97 per share which missed the analyst consensus estimate of $0.98 by 1.02 percent. This is a 41.57 percent decrease over earnings of $1.66 per share from the same period last year. The company reported quarterly sales of $48.880 which missed the analyst consensus estimate of $55.076 billion by 100.00 percent. This is a 100.00 percent decrease over sales of $56.182 billion the same period last year.

Earnings Misses

BP Q1 2024 Adj EPS $0.97 Misses $0.98 Estimate, Sales $48.880 Miss $55.076B Estimate

EV maker Lucid Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) expects sales to fall in the upcoming two quarters after reporting a n<a href="https://www.benzinga.com/news/earnings/24/05/38653616/lucid-q1-earnings-highlights-revenue-beat-eps-miss-production-update-and-more">early 40% year-on-year uptick</a> in the first quarter.
What Happened: Lucid&#8217;s first-quarter deliveries jumped nearly 40% from a year earlier to 1,967 vehicles. However, for the second and third quarters, the company expects sales to dip, owing to particularly strange reasons.
&#8220;I always offer caveats. We expect typical seasonal slowing in Saudi Arabia in Q2, and we expect typical seasonal slowing globally in Q3 as consumers go on vacation,&#8221; CEO Peter Rawlinson said during the company&#8217;s first-quarter earnings call on Monday. 
While U.S. automakers generally experience dwindling demand over the winter months in the first quarter, falling demand owing to vacations is often unheard of.
Lucid&#8217;s Presence In Saudi Arabia: During the first quarter, Lucid sold over 500 vehicles in Saudi, the CEO said, implying that over 25% of Lucid sales are from the Middle Eastern country. 
Saudi Arabia&#8217;s Public Investment Fund (PIF) is a key investor in Lucid. &#8220;Now I believe there are two key factors that really set Lucid apart. Our superior in-house technology and our partnership with the PIF, who have been steadfast investors and partners,&#8221; Rawlinson said on Monday. 
Saudi&#8217;s PIF has invested about $6.4 billion into Lucid starting in 2018. The company also raised<a href="https://www.benzinga.com/markets/equities/24/03/37913817/why-is-ev-maker-lucid-stock-surging-today"> $1 billion in the first quarter </a>via a private placement to an affiliate of PIF, taking its overall liquidity as of the end of the quarter to $5.03 billion, despite reporting a loss of $680.9 million during the three months. 
The government of Saudi Arabia agreed to purchase up to 100,000 vehicles from the company over ten years starting in 2022. The company has two studios and service centers in the country and a car manufacturing factory.
Price Action: Lucid stock closed up 9.5% at $3.05 on Monday but dropped 7.9% after hours, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Stock is down 26.5% year-to-date. 
Check out more of Benzinga&#8217;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/24/05/38628520/tesla-launches-model-y-rwd-variant-that-can-go-upto-320-miles-on-a-single-charge-elon-musk-promises">Tesla Launches Model Y RWD Variant That Can Go Upto 320 Miles On A Single Charge: Elon Musk Promises More Range On Discontinued Variant For Additional $1500 To $2000</a>
 Photo by Gage Skidmore on Flickr

LCID

Lucid CEO Peter Rawlinson Sees Sales Slowing Down Later This Year Because... Consumers Will Go On Vacation: 'I Always Offer Caveats'

After <a href="https://www.benzinga.com/markets/equities/24/02/37346162/apple-abandons-electric-car-project-to-focus-on-generative-ai">ditching its electric-vehicle plans, </a>Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) could be rekindling interest in the segment, if rumors are anything to go by. A report said late Monday that Cupertino was in talks to forge a partnership with Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>).
What Happened: Apple is &#8220;assessing the possibility of teaming up with a certain U.S. EV startup, and Rivian is a very likely candidate,&#8221; said Digitimes in a paywalled article, 9to5Mac <a href="https://9to5mac.com/2024/05/06/apple-rivian-partnership-report/">reported.</a>
The rumor&#8217;s originator, however, carried scant details and cited speculation among the supply chain.
Apple and Rivian did not immediately respond to Benzinga&#8217;s request for comment on the rumor.
Given the very preliminary nature of the speculation, the news could be subject to a lot of guesses and conjectures. The two relevant parties have key events coming up on Tuesday. Rivian is scheduled to report its first-quarter results after the market close, with analysts harboring subdued hopes amid the industry-wide downturn and the competition.
Apple, meanwhile, has scheduled the &#8220;Let Loose&#8221; hardware launch event, the first for the year, at 10 a.m. EDT on Tuesday. Rumors suggest the event presentation will be pre-recorded and the company will announce new OLED iPad Pro and iPad Airs. It may also announce a redesigned Magic Keyboard and the third-generation Apple Pencil.
See Also: <a href="https://www.benzinga.com/money/best-tech-stocks">Best Tech Stocks Right Now</a>
Why It&#8217;s Important: The rumor comes after Bloomberg reported in late February that Apple has decided to pull the plug on the self-driving car project, internally codenamed &#8220;Project Titan.&#8221; This meant that Apple&#8217;s decade-long time, efforts, and investment into the project would go down the drain. The rationale was to focus on the more lucrative generative AI opportunity.
Rivian, although a cut above the rest in the EV startup ecosystem, has had its fair share of woes. The company has been piling up losses for each of the EVs it manufactures, production ramp-up has been tough and cash resources have been dwindling.
Despite the fundamental challenges, Rivian has opted to embark on manufacturing its next-generation EVs using the R2 platform.
One wild guess could be a potential CarPlay subscription. Prominent Apple leaker and Bloomberg columnist Mark Gurman said in mid-March that <a href="https://www.benzinga.com/markets/equities/24/03/37769022/clock-is-ticking-for-apple-as-it-faces-obliteration-in-auto-market-says-gurman-heres-how-cuperti">Apple has doubled down on its efforts on&nbsp;CarPlay,&nbsp;</a>a technology system that connects an iPhone to a car's infotainment screen.
The concept for the new CarPlay, known as Project IronHeart within Apple, was meant to &#8220;take over more screens and a car&#8217;s instrument cluster, as well as features like the radio and air conditioning system,&#8221; he said. Currently, the interface is focused on allowing a user to operate Apple services and &#8220;doesn't handle most of a car's controls,&#8221; he added.
Apple ended Monday&#8217;s session down 0.91% to $181.71 and Rivian rallied 2.58% before closing at $10.33, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a>
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38656431/rivian-q1-earnings-preview-analyst-estimates-r2-update-key-production-focus-areas"> Rivian Q1 Earnings Preview: Analyst Estimates, R2 Update, Key Production Focus Areas</a>
Photo via Shutterstock

Media

RIVN

Is Apple Back In The EV Game? Tech Giant Reportedly Eyes Rivian Partnership

Hallador Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HNRG#NASDAQ">HNRG</a>) reported quarterly losses of $(0.05) per share which beat the analyst consensus estimate of $(0.18) by 72.22 percent. This is a 108.2 percent decrease over earnings of $0.61 per share from the same period last year. The company reported quarterly sales of $109.672 million which missed the analyst consensus estimate of $122.400 million by 10.40 percent. This is a 41.77 percent decrease over sales of $188.334 million the same period last year.

HNRG

Hallador Energy Q1 2024 GAAP EPS $(0.05) Beats $(0.18) Estimate, Sales $109.672M Miss $122.400M Estimate

Osisko Development (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ODV#NYSE">ODV</a>) reported $1.800 million in sales this quarter. This is a 43.75 percent decrease over sales of $3.200 million the same period last year.

Osisko Development Q1 Sales C$1.800M Down From C$3.200M YoY, Cash Position C$57.5M

Billionaire entrepreneur Mark Cuban has publicly supported the confession of Billy Markus, the co-founder of Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>).
What Happened: Markus, who created the meme cryptocurrency Dogecoin in 2013, recently confessed on the X social media platform. Cuban, a well-known Dogecoin enthusiast, has shown his support for Markus&#8217; actions.
Markus, in his confession, addressed his activity on social media, particularly his engagement in &#8220;s&#x2A;&#x2A;t posting&#8221; and complaining. 
Markus, also known by his pseudonym &#8220;Shibetoshi Nakamoto,&#8221;&nbsp;wrote, &#8220;i&#8217;m just s&#x2A;&#x2A;tposting but my actual positon here is: 1) complaining about people complaining on social media is pretty silly 2) it&#8217;s cool when people do things to try to help fix really difficult problems 3) it&#8217;s perfectly fine to complain, like you&#8217;re literally doing.&#8221; 
Cuban, in response, expressed his support for Markus, emphasizing that &#8220;Positive trolling towards s&#x2A;&#x2A;t posting trolls is never silly.&#8217;
<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">Positive trolling towards shit posting trolls is never silly &#x1f60a; <a href="https://t.co/DISR3kcGkb">https://t.co/DISR3kcGkb</a>
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1787212907962409316?ref_src=twsrc%5Etfw">May 5, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Despite withdrawing from the Dogecoin project over a decade ago, Markus still holds a <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/37175267/dogecoin-co-creator-reveals-his-bitcoin-holdings-is-less-than-350">small amount of DOGE</a> and a minimal amount of Bitcoin.
Cuban, who was previously a <a href="https://www.benzinga.com/markets/cryptocurrency/21/09/22780044/mark-cuban-dont-think-of-crypto-as-currencies">vocal critic of cryptocurrencies</a>, has become a strong advocate for not only Dogecoin but also Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), and other leading cryptocurrencies.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38634101/despite-bitcoin-hitting-64k-analyst-says-king-crypto-remains-in-prime-buy-zone?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Despite Bitcoin Hitting $64K, Analyst Says King Crypto Remains In &#8216;Prime Buy Zone&#8217;</a>
Why It Matters: Cuban&#8217;s support for Dogecoin is not new. The billionaire has been a vocal advocate for the meme cryptocurrency and has even allowed the Dallas Mavericks to accept <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36835819/mark-cubans-crypto-ama-dallas-mavericks-say-yes-to-doge-printer-go-brrr-his-crypto-holding">DOGE as payment</a> for tickets and merchandise. 
Despite the recent <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/37205800/mark-cuban-benefits-from-surge-in-this-ethereum-based-ai-token-portfolio-climbs-180k-in-a-">surge in his crypto investments</a>, Cuban&#8217;s support for Dogecoin and its community remains unwavering. His backing of Markus&#8217; confession on X is likely to further bolster the confidence of Dogecoin investors and enthusiasts.
Markus&#8217; recent disclosure on X comes at a time when the social activity surrounding <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38659010/bitcoin-etfs-a-social-dud-for-lay-folks-analytics-platform-shares-data-that-shows-if-retai">Bitcoin ETFs is reportedly on the decline</a>, suggesting that retail investors may be losing interest in the cryptocurrency. 
Price Action: Dogecoin is currently trading at $0.16, marking a decrease of 0.45% in the last 24 hours, while showing a notable 68.86% increase year-to-date, according to the data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/partner/cryptocurrency/24/04/38488209/ecoai-coin-a-sustainable-digital-token-for-a-greener-planet?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">EcoAi Coin: A Sustainable Digital Token For A Greener Planet</a>
Image Via Flicker
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Global

DOGE

Mark Cuban Backs Dogecoin Co-Founder Billy Markus' 'S**t Posting' On X, Says 'Positive Trolling ... Is Never Silly'

Kosmos Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KOS#NYSE">KOS</a>) reported quarterly earnings of $0.21 per share which beat the analyst consensus estimate of $0.15 by 40 percent. This is a 31.25 percent increase over earnings of $0.16 per share from the same period last year. The company reported quarterly sales of $419.139 million which beat the analyst consensus estimate of $415.105 million by 0.97 percent. This is a 6.42 percent increase over sales of $393.867 million the same period last year.

Kosmos Energy Q1 2024 Adj EPS $0.21 Beats $0.15 Estimate, Sales $419.139M Beat $415.105M Estimate

AudioCodes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AUDC#NASDAQ">AUDC</a>) reported quarterly earnings of $0.17 per share which missed the analyst consensus estimate of $0.23 by 26.09 percent. This is a 112.5 percent increase over earnings of $0.08 per share from the same period last year. The company reported quarterly sales of $60.076 million which missed the analyst consensus estimate of $62.452 million by 3.80 percent. This is a 1.46 percent increase over sales of $59.213 million the same period last year.

AUDC

AudioCodes Q1 2024 Adj EPS $0.17 Misses $0.23 Estimate, Sales $60.076M Miss $62.452M Estimate

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