GigaCloud Tech (NASDAQ:GCT) Stock, Quote.Headers.trade-ideas

GigaCloud Tech

GigaCloud Technology Inc end-to-end B2B e-commerce solutions for large parcel merchandise. Its B2B e-commerce platform, which is referred to as the GigaCloud Marketplace, integrates everything from discovery, payments, and logistics tools into one easy-to-use platform. It offers online and offline integrated cross-border transaction and delivery services for furniture and large merchandise. Its marketplace seamlessly connects manufacturers in Asia, with resellers in the U.S., Asia, and Europe, to execute cross-border transactions with confidence, speed, and efficiency. It offers a truly comprehensive solution that transports products from the manufacturer's warehouse to end customers, all at one fixed price.

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GigaCloud Technology Inc. (NASDAQ: GCT) has been on a downward spiral lately, with significant selling pressure. The stock has dipped 36.6% against the 9% increase of the industry it belongs to and the 10.5% growth of the Zacks S&amp;P 500 composite.

GigaCloud Down 37% in 6 Months: Should You Buy the Dip?

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After all major indexes ended the first half of the year in the green, more gains are anticipated in the second half. The resilient economy, robust job market, upward-trending sales and earnings estimates, and near-record household incomes provide strong support for continued market growth.

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GigaCloud Technology Inc - Class A Ordinary Shares

GigaCloud Technology Inc

GlucoTrack Inc

GCT Semiconductor Holding, Inc. Common Stock

GCT Semiconductor Holding Inc

GCT Semiconductor Holding, Inc. Warrants, each whole warrant exercisable for one share of Common Stock at an exercise price of $11.50

The highest-end model of 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/24/09/40780100/apple-intelligence-ready-iphone-16-with-faster-processor-dedicated-camera-button-announced-check-pri">latest smartphone series</a>, iPhone 16, has been ranked fourth globally in overall camera score, but it leads the pack in video capabilities.
What Happened:&nbsp;Following the release of the&nbsp;iPhone 16 series earlier this month, various tests have been conducted on its <a href="https://www.benzinga.com/news/24/09/40975696/are-big-iphone-overhauls-a-thing-of-the-past-apple-shifts-focus-to-software-upgrades-in-new-smartpho">features and components</a>.
Now, according to&nbsp;DxOMark&#8217;s&nbsp;Monday testing that was posted on Monday,&nbsp;the iPhone 16 Pro Max&#8217;s camera scored 157 points overall, placing it fourth globally.
It trails&nbsp;behind the Huawei Technologies&#8217; Pura 70&nbsp;Ultra, the Google Pixel&nbsp;9 Pro XL, and&nbsp;the Honor Magic6 Pro.
However, it outshone its competitors in the video category, scoring 159 points, the highest score.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40973399/apples-former-design-maestro-jony-ive-confirms-hes-joined-forces-with-openais-sam-altman-for-a-new-a?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple's Former Design Maestro Jony Ive Confirms He's Joined Forces With OpenAI's Sam Altman For A New AI Hardware Project</a>
According to the website, which describes itself as the world-leading quality evaluation laboratory, the iPhone 16 Pro Max&#8217;s zoom function, which&nbsp;uses the Tetraprism lens system, showed&nbsp;inconsistencies.
It also noted, &#8220;Unwanted&nbsp;artifacts, including&nbsp;flare,&nbsp;ghosting,&nbsp;ringing, and&nbsp;aliasing.&#8221;
DxOMark also said that the device excels in capturing photos and videos of friends and family, offering a wide dynamic range across its entire zoom range, with accurate white balance and natural color rendering.
The iPhone 16 Pro Max also delivers excellent detail and texture in bright light, features fast and accurate autofocus, and provides highly effective video stabilization, the website stated.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
<figure class="wp-block-image size-large is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/25000904/Screenshot-2024-09-25-at-9.38.50%E2%80%AFAM-1024x699.png" alt="" class="wp-image-564565" style="width:920px;height:auto" /><figcaption class="wp-element-caption">Credit: DxOMark</figcaption></figure>
This report was first <a href="https://appleinsider.com/articles/24/09/23/cameras-on-iphone-16-pro-max-are-fourth-best-in-the-world">spotted</a> by AppleInsider.
Why It Matters: On Tuesday, tech YouTuber Marques Brownlee, popularly known as MKBHD, also shared his review of the iPhone 16 series calling it the <a href="https://www.benzinga.com/news/24/09/40998105/marques-brownlee-reviews-apples-iphone-16-and-launches-new-app-this-is-the-most-unfinished-ive-ever">&#8220;most unfinished&#8221; iPhone launch</a> ever.
The launch of the iPhone 16 has also received mixed responses. While analysts continue to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40971882/as-apples-iphone-16-goes-on-sale-analyst-says-demand-off-to-strong-start-keeping-cu">anticipate high demand</a> for the latest model, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40984092/apple-iphone-16-lead-time-falls-short-of-iphone-15-but-one-analyst-says-investors-s">shorter lead times</a> compared to the iPhone 15 have sparked concerns about potentially lower interest.
The Cupertino, California-based tech giant is also facing <a href="https://www.benzinga.com/news/24/09/40845772/huaweis-2-800-tri-fold-phone-has-the-potential-to-eat-apples-lunch-in-china-here-is-how-it-compares">stiff competition from China&#8217;s top</a> smartphone maker, Huawei, which has released the world's first tri-fold smartphone Mate XT alongside Apple&#8217;s iPhone 16.
Previously, it was reported that the iPhone 16 series left some <a href="https://www.benzinga.com/news/24/09/40785959/iphone-16-fails-to-sway-some-chinese-buyers-im-going-to-buy-huaweis-tri-fold-phone-missing-ai-featur">Chinese buyers unimpressed</a>, with many pointing to the absence of AI features as the main source of their dissatisfaction.
Photo courtesy: Apple
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer: 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.

AAPL

iPhone 16 Pro Max Camera Fails To Top The Global Rankings Chart, Huawei Rules The Roost

Influential tech mogul Elon Musk publicly praised a speech by El Salvador President Nayib Bukele, in which he defended his administration against charges of stifling political opposition and restricting freedom of speech.
What Happened: On Tuesday, the Tesla and Space X CEO took to X to commend a speech by Bukele delivered at the UN General Assembly. The address, made in Spanish, reiterated El Salvador&#8217;s commitment to upholding civil liberties.
&#8220;In El Salvador, we do not imprison our opposition. We do not censor opinions. We do not confiscate property from those who think differently,&#8221; the president said. &#8220;In El Salvador, your freedom of expression, as well as your private property, will always be protected.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Great speech by <a href="https://twitter.com/nayibbukele?ref_src=twsrc%5Etfw">@nayibbukele</a>! <a href="https://t.co/Ni7thjJreI">pic.twitter.com/Ni7thjJreI</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1838707186148548632?ref_src=twsrc%5Etfw">September 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41009150/gary-gensler-led-sec-moved-forward-with-enforcing-crypto-regulation-despite-legal-problems">Gary Gensler-Led SEC Moved Forward With Enforcing Crypto Regulation &#8216;Despite Legal Problems,&#8217; Commissioner Admits In Hearing</a>
Why It Matters: This isn&#8217;t the first time Musk has shown support for Bukele. Last month, Musk <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40569179/elon-musk-cheers-pro-bitcoin-el-salvador-president-nayib-bukeles-free-speech-guarantee-ami">praised Bukele&#8217;s commitment to freedom of speech</a> amid the controversial arrest of Telegram CEO Pavel Durov in France. 
Just days ago, Bukele visited Tesla&#8217;s gigafactory in Texas, where <a href="https://www.benzinga.com/news/24/09/40968137/pro-bitcoin-el-salvador-president-nayib-bukele-meets-elon-musk-at-teslas-giga-texas-hails-billionair">he spent several hours in conversation with Musk</a>. The Salvadoran President hailed Musk as &#8220;one of the great minds of our time.&#8221; The respect was mutual, as Musk called Bukele an &#8220;amazing leader.&#8221;
El Salvador, under President Bukele, has made headlines because <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40330518/nayib-bukeles-bitcoin-city-project-in-el-salvador-attracts-1-6b-investment-from-turkey-bas">of its pioneering embrace</a> of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), which was adopted as a legal tender in the country in 2021.
But while the nation&#8217;s Bitcoin policy has been noteworthy, Bukele&#8217;s claims about guaranteeing free speech remained debatable. El Salvador was ranked&nbsp;<a href="https://rsf.org/en/country/el-salvador" target="_blank" rel="noreferrer noopener">133rd&nbsp;</a>out of 180 countries in the World Press Freedom Index 2024, down 18 places from the previous year's rankings.
His administration has been accused of detaining thousands of people as part of his anti-gang campaign. Additionally, his <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/36926597/bitcoin-president-nayib-bukele-declares-victory-in-el-salvadors-elections">reelection earlier this year was also marred by controversy</a>, as the constitutional court, largely made up of his supporters, allowed him to run again on the condition that he step down before his second term begins.
Image via Shutterstock
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Disclaimer:&nbsp;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.

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

Cryptocurrency

$BTC

Elon Musk Applauds Pro-Bitcoin El Salvador President Nayib Bukele For UN Address: 'We Do Not Imprison Our Opposition. We do Not Censor Opinions'

Warren Buffett&#8217;s Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) <a href="https://www.benzinga.com/trading-ideas/technicals/24/09/40838437/warren-buffett-sells-more-bank-of-america-stock-should-you-follow-his-lead-or-invest-fur">sold an additional $863 million</a> of Bank of America Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) stock, reducing its stake closer to a 10% regulatory threshold, according to the company&#8217;s regulatory filing with U.S. Securities and Exchange Commission.
What Happened: Berkshire now owns close to 10% of the second-largest U.S. bank after the latest disposals over three trading days through Tuesday. 
Buffett, 94, began trimming the massive investment in mid-July. Despite months of sales, Berkshire's remaining stake in Bank of America is valued at $32.1 billion, based on Tuesday's closing price, maintaining its <a href="https://www.benzinga.com/trading-ideas/technicals/24/09/40838437/warren-buffett-sells-more-bank-of-america-stock-should-you-follow-his-lead-or-invest-fur">position as the largest shareholder</a>.
See Also: <a href="https://www.benzinga.com/news/24/09/40972893/trumps-mars-landing-promise-gets-slammed-by-peter-schiff-even-as-elon-musk-says-spacex-plans-5-launc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Mars Landing Promise Gets Slammed By Peter Schiff Even As Elon Musk Says SpaceX Plans 5 Launches To Red Planet In 2 Years: &#8216;Just Don&#8217;t Want The Government To Do It&#8217;</a>
Why It Matters: Bank of America CEO Brian Moynihan recently commented on Buffett&#8217;s sales, stating <a href="https://www.benzinga.com/news/24/09/40805571/bank-of-america-ceo-on-buffetts-share-retreat-i-dont-know-what-exactly-he-is-doing-we-cant-ask">he has not inquired about the reasons behind the reduction</a>. Moynihan praised Buffett&#8217;s investment history with the bank but admitted, &#8220;I don't know what exactly he is doing because frankly we can't ask.&#8221; This statement was made during an investor conference in New York.
Meanwhile, Bank of America is actively <a href="https://www.benzinga.com/markets/equities/24/09/40983831/bank-of-america-ramps-up-expansion-over-165-new-financial-centers-set-to-open-across-63-us-marke">expanding its retail banking presence</a>. The bank announced plans to open over 165 new financial centers across 63 U.S. markets by the end of 2026. This expansion includes nearly 40 centers set to open this year alone, with the first center in Louisville, Kentucky, opening recently.
Additionally, Ajit Jain, a top executive at Berkshire Hathaway, sold more than half of his shares in the Buffett-led company for approximately $139 million <a href="https://www.benzinga.com/markets/equities/24/09/40848692/warren-buffetts-top-executive-ajit-jain-sells-over-half-his-berkshire-hathaway-stake-for-139m-am">amid speculation on stock valuation</a> and potential tax policies.
Price Action: Bank of America stock closed at $39.45 on Tuesday, down 1.05% for the day. In after-hours trading, the stock dropped 0.051%. Year to date, the stock has gained 16.37%, accroding to <a href="https://www.benzinga.com/pro/login">data from Benzinga Pro</a>.
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Image via Gates Foundation
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

Warren Buffett Moves: Berkshire Hathaway Reduces Bank Of America Holdings By $863M

Zhu Hengpeng, a prominent economist at a top Chinese think tank, has reportedly been detained and stripped of his roles after allegedly criticizing President Xi Jinping&#8217;s economic policies.
What Happened: Zhu, who held the position of deputy director at the Institute of Economics at the state-run Chinese Academy of Social Sciences (CASS), is said to have made these comments in a private WeChat group chat. His remarks included subtle criticism of Xi and China&#8217;s struggling economy, <a href="https://www.wsj.com/world/china/top-economist-in-china-vanishes-after-private-wechat-comments-50dac0b1">reported</a> The Wall Street Journal.
The inquiry into Zhu&#8217;s supposed offenses coincides with Beijing&#8217;s intensified efforts to curb negative commentary on China&#8217;s economic health, which has been suffering due to a real estate downturn and tepid sentiment among consumers and businesses.
Zhu, an expert in health economics, was a significant commentator on such matters. He had been with the think tank for over two decades, providing advice to the government on policies related to hospital reforms and access to healthcare.
His name has since been taken off the online list of personnel at a think tank associated with Beijing&#8217;s esteemed Tsinghua University. The current status of the investigation into Zhu is unknown, as is whether he has legal representation.
The investigation coincided with a campaign to indoctrinate CASS staff, aimed at ensuring adherence to Communist Party rules. Zhu&#8217;s last known public appearance was in late April at an elder-care-industry conference organized by the Caixin financial news magazine.
See Also: <a href="https://www.benzinga.com/news/24/09/40973164/nba-star-shaquille-oneal-threw-tim-walz-out-from-his-big-chicken-restaurant-and-said-dont-come-back?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">NBA Star Shaquille O&#8217;Neal Threw Tim Walz Out From His Big Chicken Restaurant And Said, &#8216;Don&#8217;t Come Back&#8217; — Fact Or Fiction</a>
Why It Matters: This incident comes amidst a backdrop of mysterious disappearances of high-profile figures in China. For instance, <a href="https://www.benzinga.com/news/23/07/33383339/xi-jinping-brings-back-wang-yi-as-foreign-minister-a-month-after-qin-gangs-mysterious-absence">Wang Yi</a>, who served as China's top diplomat from 2013 to 2018, returned to his role as China's Foreign Minister a month after the former foreign minister Qin Gang vanished from public view. The disappearance of Zhu, therefore, adds to the growing concern about the suppression of dissent in China.
China&#8217;s Defence Minister Li Shangfu also disappeared amidst corruption investigations, with Li last seen on Aug. 29, 2023,. Former Industry Minister Xiao Yaqing and ex-Rocket Force leaders Li Yuchao and Xu Zhongbo also vanished in 2022 and 2023, likely linked to probes into corruption or political misconduct, reported Reuters.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

General

Chinese Economist Vanishes After Criticizing Xi Jinping On WeChat, Name Removed From Prestigious Beijing University Think Tank

The Qingyun L540 laptop, a product of&nbsp;Huawei Technologies, is a testament to China&#8217;s progress towards technological self-sufficiency, featuring&nbsp;a self-designed processor and a&nbsp;Chinese-made operating system.
What Happened: The Qingyun L540 laptop is a prime example of China&#8217;s push for tech independence. The laptop, which is being widely adopted by government and state groups, is a part of China&#8217;s localization campaign, Xinchuang, <a href="https://www.ft.com/content/5511d73a-1ada-4884-a559-681502300e4f">reported</a> Financial Times.
China&#8217;s quest for a domestic tech supply chain has been a long-standing goal, with a particular focus on semiconductors. The embargoes on high-tech goods by Washington have further motivated Beijing to intensify its efforts.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40998105/marques-brownlee-reviews-apples-iphone-16-and-launches-new-app-this-is-the-most-unfinished-ive-ever?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Marques Brownlee Reviews Apple&#8217;s iPhone 16 And Launches New App: &#8216;This Is The Most Unfinished I&#8217;ve Ever Seen A New iPhone Launch&#8217;</a>
Since&nbsp;March, central agencies have transitioned&nbsp;from exclusively purchasing laptops running&nbsp;on Intel and AMD processors&nbsp;to&nbsp;acquiring three-quarters of their devices&nbsp;with chips from Chinese companies.
This includes companies like Huawei, Shanghai Zhaoxin, and Phytium, the report noted.
The Qingyun L540 laptop also runs&nbsp;on the Chinese-made Unity Operating&nbsp;System, based on Linux, and all of its&nbsp;applications are made in China.
However, the laptop still relies on some foreign technology, indicating the challenges that lie ahead for China&#8217;s tech independence campaign.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: The push for tech autonomy in China has been a response to the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40078235/biden-rule-on-semiconductor-exports-to-china-is-huge-positive-for-chip-sector-suppl">U.S. restrictions on semiconductor</a> exports to China.
In May this year, the Chinese government announced <a href="https://www.benzinga.com/news/24/05/39110209/chinas-decapitated-chip-sector-is-thrown-50b-lifeline">a $47.5 billion public fund</a> aimed at fueling the country&#8217;s self-reliance in manufacturing advanced chips.
Earlier, Chinese President&nbsp;Xi Jinping&nbsp;also urged for increased R&amp;D in semiconductors, machine tools, and foundational software, stating that they form the &#8220;technological backbone for independent, secure&nbsp;and controllable supply chains.&#8221;
Earlier this month, an analysis of China's semiconductor technology shows it is <a href="https://www.benzinga.com/news/24/09/40671027/tsmc-tech-only-3-years-ahead-of-chinas-progress-shows-analysis-us-export-restrictions-have-minimal-i">just three years behind</a> Taiwan Semiconductor Mfg. Co. Ltd.
In the first half of 2024, <a href="https://www.benzinga.com/markets/asia/24/09/40697855/chinas-chipmaking-investments-top-us-taiwan-south-korea-combined-what-it-means-for-nvidia-asml">China invested $25 billion</a> in chipmaking equipment, surpassing the combined spending of South Korea, Taiwan, and the U.S.
Meanwhile, Huawei has received much praise for launching the world's first tri-fold smartphone, the Mate XT.
Although the smartphone is expensive at the price range of $2,800 to $3,371, it has been giving <a href="https://www.benzinga.com/news/24/09/40845772/huaweis-2-800-tri-fold-phone-has-the-potential-to-eat-apples-lunch-in-china-here-is-how-it-compares">tough competition</a> to Apple in China.
Image via Shutterstock
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer: 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

Media

Huawei, Riding High On Trifold Success, Launches Revolutionary Laptop Powered By Homegrown Chips, Software — China Ready To Break Free From US Tech Dependence?

Leading cryptocurrencies surged on Tuesday, matching the upswing in the stock market, as investors' confidence in risky asset classes grew.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:30 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+2.56%</td>
<td>$64,439.73</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+1.21%</td>
<td>$2,652.72</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+3.21%</td>
<td>$0.1106</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin, the market bellwether, swung to highs of $64,700 Tuesday overnight, a level unseen since Aug. 2. The leading cryptocurrency trended upward throughout U.S. trading hours.&nbsp;
Ethereum continued to chop in the $2,600 zone, awaiting a decisive breakout to the $2,700 region. That said, the second-largest cryptocurrency has outperformed Bitcoin in returns since the Federal Reserve's aggressive rate cut last week.
Total cryptocurrency liquidations reached $111 million in the last 24 hours, with $71 million in downside bets getting wiped out.
The rally resulted in a 3% spike in Bitcoin's Open Interest, signaling high speculative interest for the apex digital coin.
Additionally, traders longing Bitcoin outnumbered those anticipating a decline in its price, as the Long/Short Ratio went past 1.
The market sentiment remained "Neutral," according to the popular Cryptocurrency Fear &amp; Greed Index, signaling a balance between market forces.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:30 p.m. EDT)</td>
</tr>
<tr>
<td>Sei (SEI)</td>
<td>+30.17%</td>
<td>$0.4734</td>
</tr>
<tr>
<td>dogwifhat (WIF)</td>
<td>+20.17%</td>
<td>$2.05</td>
</tr>
<tr>
<td>Popcat (POPCAT)</td>
<td>+17.34%</td>
<td>$1.06</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market stood at $2.26 trillion, following an increase of&nbsp; 2.30% in the last 24 hours.
Stocks recorded their second straight day of upswing. The Dow Jones Industrial Average gained 83.57 points, or 0.20%, to close at 42,208.22, while the S&amp;P 500 gained 0.25% to end at 5,732.93. Both the blue-chip indexes closed at record highs. The tech-heavy Nasdaq Composite rose 0.56% to close at&nbsp; 18,074.52.
The rally came after shares of AI powerhouse NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) popped nearly 4% on reports that CEO Jensen Huang <a href="https://www.benzinga.com/news/24/09/41010963/nvidia-stock-is-ripping-higher-tuesday-whats-going-on">has completed selling company stock</a> under a trading plan.
The Fed's 50 basis point rate cut has energized the market, with the Dow up 1.55% since September began and the S&amp;P 500 rising 1.49%.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Contrary to expectations, widely followed cryptocurrency trader Nagato forecast a "blow-off top" for the market in the fourth quarter of 2024.
"If you think what's coming in the next few months will be even slightly comparable to the run-up we had in Q1 2024, you've been successfully brainwashed," the analyst warned.&nbsp;
Nagato added that the upcoming quarter will be a "true crypto bubble."
<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">If you think what's coming in the next few months will be even slightly comparable to the run-up we had in Q1 2024, you've been successfully brainwashed. Q1 2024 was a minor pump, mostly fueled by crypto enthusiasts excited about $BTC's new ATH, ETFs, and the halving. Q4 2024…
&mdash; Nagato 
</blockquote></div></figure>

Movers

$DOGE

$ETH

NVDA

Bitcoin, Ethereum, Dogecoin Mirror Nvidia-Powered Stocks Rally: Analyst Makes This Unexpected Forecast About Crypto Performance In Q4

Hitachi Rail subsidiary of Hitachi (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HTHIF#OTC">HTHIF</a>)&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/HTHIY#OTC">HTHIY</a>) has announced the integration of NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) technology to enhance its railway operations, aiming to reduce maintenance costs and <a href="https://www.benzinga.com/news/24/09/41010963/nvidia-stock-is-ripping-higher-tuesday-whats-going-on">improve transit reliability</a>.
What Happened: Hitachi Rail, a global leader in transportation, is adopting Nvidia technology to enhance railway operations, reduce maintenance costs, and improve transit reliability, the company said in a news release on Monday.
The company is incorporating the NVIDIA IGX platform into its HMAX system to process sensor and camera data in real time. This integration aims to expedite the detection of track issues, monitor power line degradation, and assess the health of trains and signaling equipment.
Hitachi Rail estimates that proactive maintenance is seven times less costly than emergency repairs. The company's existing AI systems have already reduced service delays by up to 20% and maintenance costs by up to 15%, while cutting energy consumption by up to 40%, according to Nvidia&#8217;s blog post.
Koji Agatsuma, Executive Director and CTO of Rail Vehicles at Hitachi Rail stated, &#8220;Using previous digital monitoring systems, it would take a few days to process the data and discover issues that need attention. If we can instead conduct real-time prediction using NVIDIA technology, that enables us to avoid service disruptions and significantly improve safety, reliability, and operating costs.&#8221;
The new AI applications, developed using NVIDIA AI Enterprise software, will be available through the HMAX platform. These tools will help operators monitor train fleets and infrastructure more efficiently, providing timely alerts and optimizing maintenance schedules.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40973101/bitcoin-ethereum-rise-dogecoin-slips-as-market-reacts-to-harris-crypto-mention-analyst-bel?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum Rise, Dogecoin Slips As Market Reacts To Harris&#8217; Crypto Mention: Analyst Believes It&#8217;ll Be &#8216;Game Over&#8217; For Bears If King Crypto Breaches $64K</a>
Why It Matters: The integration of Nvidia technology into Hitachi Rail&#8217;s operations is part of a broader trend of AI adoption in various industries. Recently, Nvidia&#8217;s stock surged following reports that CEO Jensen Huang had completed selling company shares under a <a href="https://www.benzinga.com/news/24/09/41010963/nvidia-stock-is-ripping-higher-tuesday-whats-going-on">trading plan earlier than expected</a>.
Moreover, Nvidia has been actively expanding its <a href="https://www.benzinga.com/markets/asia/24/09/41005816/alibaba-partners-with-nvidia-to-advance-ai-autonomous-driving-chart-indicates-positive-momentum">AI capabilities through strategic partnerships</a>. For instance, Alibaba Group Holdings recently teamed up with Nvidia to enhance AI and autonomous driving technologies. 
Price Action: Nvidia&#8217;s stock closed at $120.87 on Tuesday, up 3.97% for the day. In after-hours trading, the stock continued to rise, up 0.76%. Year to date, Nvidia has surged by 150.92%. 
Meanwhile, Hitachi&#8217;s stock on the Japanese exchange is trading at 3,824 JPY, down 0.83%. Despite the day&#8217;s decline, Hitachi&#8217;s stock has risen by 88.00% year to date, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40972893/trumps-mars-landing-promise-gets-slammed-by-peter-schiff-even-as-elon-musk-says-spacex-plans-5-launc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Mars Landing Promise Gets Slammed By Peter Schiff Even As Elon Musk Says SpaceX Plans 5 Launches To Red Planet In 2 Years: &#8216;Just Don&#8217;t Want The Government To Do It&#8217;</a></li>
</ul>
Image Via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Asia

HTHIF

HTHIY

Nvidia's AI Tech Hits The Tracks: Hitachi Rail Taps Into Real-Time Maintenance To Boost Reliability, Slash Costs

Movie actor Robert De Niro spoke out against former President Donald Trump at a recent film premiere, continuing his criticism of Trump ahead of the<a href="https://www.benzinga.com/topic/2024-election"> 2024 presidential election.</a>
What Happened: While most attention of the "Megalopolis" was on director Francis Ford Coppola's<a href="https://www.benzinga.com/general/entertainment/24/05/38879419/francis-ford-coppola-spent-120m-self-financing-passion-project-what-the-gambit-could-mean-f"> self-financed film</a>, actor De Niro couldn't help but draw parallels from the film's content and the current state of politics.
The film hits on themes like the decline of civilizations and the rise of dictators, as reported by Deadline.
"I see the things in Francis' film about that, the parallels and so on. To me it's not over ‘till it's over and we have to go at this wholeheartedly to beat the Republicans – those Republicans, they're not real Republicans – and beat Trump," De Niro said.
De Niro said the movie shows that we can't have certain "types of people" in leadership roles.
"Everybody has to get out there and vote."
During the Q&amp;A session before the film screening at the AMC Lincoln Square Imax in New York, De Niro offered a comparison to Trump in the film industry.
"Just imagine Donald Trump directing this film. It'll never go anywhere, from total craziness. He cannot do anything. He cannot hold anything together … He wants to destroy the country. And he could not do this movie. He could not do anything that has a structure."
Coppola told the audience that he cast certain actors who "are voting another way" on purpose in the film. Coppola said it's important to note that people can disagree on a film.
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Why It's Important: De Niro has been one of the most vocal critics of Trump in recent years. The actor appeared outside the New York courtroom during Trump's hush money trial where he <a href="https://www.benzinga.com/general/entertainment/24/05/39050714/robert-de-niro-speaks-outside-trump-trial-clashes-with-protestors-former-president-wants-to">clashed with Trump supporters.</a>
"Megalopolis" opens in theaters on Sept. 27 and is being distributed by Lions Gate Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LGF#NYSE">LGF</a>)(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LGF#NYSE">LGF</a>) in the United States.
Photo Courtesy:Tinseltown On Shutterstock.com
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Entertainment

Politics

De Niro Draws Parallels to 'Megalopolis' Movie And Why 2024 Election Is So Important To Defeat Trump: 'Everybody Has To Get Out There And Vote'

On Tuesday, major U.S. indices closed higher, with the Dow Jones Industrial Average gaining 0.2% to reach 42,208.22, the S&amp;P 500 rising 0.25% to 5,732.93, and the Nasdaq climbing 0.6% to 18,074.52.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)
NVIDIA shares surged by 3.97% to close at $120.87. The stock&#8217;s intraday high and low were $121.8 and $115.38 respectively, with a 52-week range of $140.76 &#8211; $39.23. The uptick followed reports that CEO Jensen Huang had <a href="https://www.benzinga.com/news/24/09/41010963/nvidia-stock-is-ripping-higher-tuesday-whats-going-on">completed selling company stock</a> under a trading plan several months early.
Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>)
Alibaba shares rose by 7.88% to close at $97.19 after China's central bank announced plans to slash banks' reserve requirement ratio. The stock&#8217;s intraday high and low were $97.5 and $94.4 respectively, with a 52-week range of $97.5 &#8211; $66.63. The company&#8217;s shares rose after China&#8217;s central bank announced a 50 basis point cut to banks&#8217; reserve requirement ratio, <a href="https://www.benzinga.com/government/24/09/41004045/whats-going-on-with-chinese-stocks-alibaba-nio-xpeng-li-auto-on-tuesday">signaling potential economic support</a> and boosting investor confidence in Chinese tech stocks.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40971260/trumps-historic-bitcoin-transaction-ethereum-co-founder-backs-trump-over-harris-for-crypto?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Historic Bitcoin Transaction, Ethereum Co-Founder Backs Trump Over Harris For Crypto, Gamestop Customer&#8217;s Bitcoin Windfall, And More: This Week In Cryptocurrency</a>
Capricor Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAPR#NASDAQ">CAPR</a>)
Capricor shares soared by 52.43% to close at $9.10 following the company&#8217;s announcement of intent to <a href="https://www.benzinga.com/news/24/09/41005497/why-capricor-therapeutics-stock-is-soaring-tuesday">file a biologics license application</a> for the full approval of Deramiocel. The stock&#8217;s intraday high and low were $9.24 and $7.42 respectively, with a 52-week range of $9.24 &#8211; $2.68. 
Taiwan Semiconductor Manufacturing Company Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>)
Taiwan Semi shares climbed by 4.13% to close at $181.97 after the company secured an additional $7.5 billion infusion into its Arizona unit. The stock&#8217;s intraday high and low were $182.78 and $177.05 respectively, with a 52-week range of $193.47 &#8211; $84.02. TSMC shares rose after the company secured government approval for an <a href="https://www.benzinga.com/government/24/09/41007184/taiwan-semi-secures-7-5b-boost-for-arizona-expansion-aims-for-advanced-chip-production-report">additional $7.5 billion investment</a> into its Arizona unit, bolstering its U.S. expansion efforts and investor confidence.
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla shares rose by 1.71% to close at $254.27. The stock&#8217;s intraday high and low were $257.19 and $249.05 respectively, with a 52-week range of $271 &#8211; $138.8. The surge was fueled by optimism concerning third-quarter deliveries outperformance. Meanwhile, Gary Black <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40995280/tesla-bull-dampens-enthusiasm-regarding-1010-robotaxi-event-but-heres-what-would-ta">expressed skepticism</a> about the Oct. 10 Robotaxi event being a major catalyst, the fund manager emphasized potential growth from a sub-$30K compact car launch.
Photo by WHYFRAME on Shutterstock
Prepare for the day&#8217;s trading <a href=""Premarket">with top premarket movers and news</a> by Benzinga.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

BABA

CAPR

TSLA

Nvidia, Alibaba, Capricor Therapeutics, TSMC, Tesla: Why These 5 Stocks Are On Investors' Radars Today

On Tuesday, former House Speaker Nancy Pelosi (D-Calif.) took to X to redirect public attention away from political mudslinging. Her post comes amidst a contentious presidential race in which the Democrat Kamala Harris is pitched against the Republican Donald Trump.
<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">Don't be distracted by what's-his-name's insults and conspiracies — focus on what matters to the American people: a vote for a better future, a peaceful transfer of power and an agenda that uplifts working families. <a href="https://twitter.com/hashtag/DumpTrumpsProject2025?src=hash&amp;ref_src=twsrc%5Etfw">#DumpTrumpsProject2025</a> — elect <a href="https://twitter.com/KamalaHarris?ref_src=twsrc%5Etfw">@KamalaHarris</a> and Democrats! -NP <a href="https://t.co/Y6ojXQAklz">pic.twitter.com/Y6ojXQAklz</a>
&mdash; Nancy Pelosi (@TeamPelosi) <a href="https://twitter.com/TeamPelosi/status/1838726585027039308?ref_src=twsrc%5Etfw">September 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Pelosi said about Trump, &#8220;Don't be distracted by what's-his-name's insults and conspiracies.&#8221; She urged voters to instead focus on &#8220;what matters.&#8221; She asked them to vote for Harris and Democrats in the elections. Pelosi also attached a video to her post in which she reacted to a comment by the current House Speaker Mike Johnson (R-La.). The incumbent was quoted as saying, &#8220;If we have a free, fair and safe election, we&#8217;re going to follow the Constitution absolutely.&#8221;
Pelosi asked, &#8220;Why should there be a caveat?&#8221; — She said, &#8220;He&#8217;s trying again to wed himself to this fake conspiracy theory about the election.&#8221;
Earlier this month, Pelosi had called for unity and civility in the country, stating, "It's necessary for our country for us to move in a unifying direction. We have to take our country back to a place that you can disagree without being fearful for your life."
See Also: <a href="https://www.benzinga.com/news/24/09/40950674/data-scientist-who-called-2020-election-correctly-says-its-gone-from-drastic-landslide-in-trumps-dir?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Data Scientist Who Called 2020 Election Correctly Says Its Gone From &#8216;Drastic Landslide In Trump&#8217;s Direction To A drastic landslide For Harris&#8217;</a>
Why It Matters: Pelosi&#8217;s tweet is significant given her <a href="https://www.benzinga.com/general/politics/24/07/39844101/pelosi-tells-biden-he-cant-beat-trump-shell-do-everything-in-her-power-to-prevent-2024-run">previous stance</a> on the 2024 presidential race. She had been vocal about her doubts regarding President Joe Biden&#8217;s ability to win against Trump, and had pledged to do <a href="https://www.benzinga.com/news/24/09/40670139/nancy-pelosi-the-only-responsibility-i-will-take-for-donald-trump-is-to-make-sure-hes-not-reelected">everything in her power</a> to prevent a victory for the ex-president Trump.
With less than 50 days to go until the 2024 presidential election, Vice President Kamala Harris continues to lead former President Trump in a <a href="https://www.benzinga.com/general/politics/24/09/41016272/harris-vs-trump-2024-election-poll-shows-good-bad-news-for-each-candidate">head-to-head poll</a> of likely voters. 
Recent <a href="https://www.benzinga.com/news/24/09/40969584/trump-vs-harris-this-candidate-has-the-edge-in-latest-swing-state-polls">polling data</a> reveals a neck-and-neck contest between Harris and Trump, with a slight advantage for Harris. This context adds weight to Pelosi&#8217;s call for focus on the issues that matter to the American people, rather than on political insults and conspiracies.
Image via Flickr/ Gage Skidmore
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</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Nancy Pelosi Says, 'Don't Be Distracted By What's-His-Name's Insults And Conspiracies' — Asks Voters To Choose Kamala Harris Instead

An Israeli airstrike in Beirut has led to the death of a senior Hezbollah commander, intensifying fears of a full-scale war in the Middle East. The incident has triggered a rise in cross-border rocket attacks and Lebanon is now seeking U.S. intervention.
What Happened: The Israeli airstrike on Tuesday claimed the life of senior Hezbollah commander Ibrahim Qubaisi. The attack has heightened fears of a full-blown war in the Middle East, with Lebanon&#8217;s Health Minister Firass Abiad reporting 569 deaths, including 50 children, and 1,835 wounded since Monday, reported Reuters.
The U.N. Security Council is scheduled to discuss the conflict on Wednesday. U.N. Secretary-General Antonio Guterres warned, &#8220;Lebanon is at the brink. The people of Lebanon – the people of Israel – and the people of the world &#8211; cannot afford Lebanon to become another Gaza.&#8221;
President Joe Biden called for calm at the U.N. General Assembly, stating, &#8220;Full-scale war is not in anyone&#8217;s interest. Even if a situation has escalated, a diplomatic solution is still possible.&#8221;
However, Lebanon&#8217;s Foreign Minister Abdallah Bou Habib criticized Biden&#8217;s address as &#8220;not strong, not promising&#8221; and emphasized that the U.S., as Israel&#8217;s longtime ally and biggest arms supplier, is the only country &#8220;that can really make a difference in the Middle East and with regard to Lebanon.&#8221;
Meanwhile, displaced people in Beirut are seeking shelter in schools and other buildings, with volunteers providing essential supplies. An Israeli strike also hit the seaside town of Jiyyeh, 75 km north of the border with Israel, early on Wednesday.
See Also: <a href="https://www.benzinga.com/news/24/09/40973164/nba-star-shaquille-oneal-threw-tim-walz-out-from-his-big-chicken-restaurant-and-said-dont-come-back?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">NBA Star Shaquille O&#8217;Neal Threw Tim Walz Out From His Big Chicken Restaurant And Said, &#8216;Don&#8217;t Come Back&#8217;</a>
Why It Matters: The recent airstrike follows a series of <a href="https://www.benzinga.com/government/24/09/40986207/israel-carries-out-air-assaults-on-hezbollah-in-southern-lebanon">attacks</a> on Hezbollah targets in southern Lebanon, which have killed hundreds and escalated hostilities between Israel and Hezbollah. 
The U.S. had previously <a href="https://www.benzinga.com/news/24/09/40977597/us-warns-israel-against-opening-a-full-blown-war-against-hezbollah-as-air-strikes-kill-30-in-lebanon">warned</a> Israel against escalating the conflict, emphasizing the potential risks of a full-scale land war. The situation in Lebanon has been tense, with a series of <a href="https://www.benzinga.com/news/24/09/40924166/hezbollah-hit-in-new-round-of-explosions-across-lebanon-casualties-climb">explosions</a> targeting Hezbollah operatives.
 Iran&#8217;s President has <a href="https://www.benzinga.com/news/24/09/40993833/irans-president-says-we-dont-want-to-fight-but-israel-wants-to-drag-everyone-into-war-and-destabiliz">accused</a> Israel of escalating the conflict and destabilizing the region.
Photo via Shutterstock.
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Biden's Speech 'Not Strong, Not Promising' Says Lebanon's Foreign Minister: US Is The Only Country That Can 'Really Make A Difference In The Middle East'

The Federal Aviation Administration has defended its decision to delay a SpaceX launch, citing <a href="https://www.benzinga.com/news/24/09/40956691/spacex-ceo-elon-musk-rains-criticism-at-wrong-person-in-his-ongoing-tirade-against-faa">safety concerns and regulatory compliance</a>.
What Happened: FAA Administrator Mike Whitaker addressed House Transportation Committee lawmakers, explaining that SpaceX did not adhere to permitting and licensing requirements. This comes after Elon Musk criticized the FAA's regulations as obstructive, <a href="https://www.politico.com/news/2024/09/24/spacex-rocket-launch-delay-faa-00180730">reported</a> Politico on Tuesday.
"The delay of the Starship has to do with SpaceX filing an application and not disclosing if [they] were in violation of Texas, and federal, law on some matters — and that's a requirement to get a permit," Whitaker said.
Whitaker defended the proposed $633,000 fine against SpaceX for conducting two launches in 2023 without approved plans. He emphasized that the fine is the FAA's primary tool to ensure compliance.
The FAA has postponed SpaceX's fifth test launch of its Starship megarocket to November, citing the need for updated environmental analysis and compliance with launch license procedures. This delay is partly due to the potential impact of a sonic boom on wildlife near the Boca Chica, Texas, launch site.
Rep. Kevin Kiley (R-Calif.) questioned whether the FAA's scrutiny was excessive and stifling innovation. Whitaker maintained that the sonic boom analysis is a safety issue and necessary for compliance.
Whitaker suggested that SpaceX adopt a safety management system similar to those used by airlines and manufacturers like Boeing. He reiterated that all companies should have the same oversight and safety measures.
Last week, Musk announced plans to take his grievances to Congress, arguing that the FAA's actions were unwarranted and unrelated to safety. SpaceX's lawyer, David Harris, also contested the FAA's claims in a letter to congressional leaders.
See Also: <a href="https://www.benzinga.com/news/24/09/40976555/elon-musk-shares-it-takes-multiple-fish-licenses-to-launch-a-rocket-i-dont-think-the-public-is-quite?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Shares It Takes &#8216;Multiple Fish Licenses&#8217; To Launch A Rocket: &#8216;I Don&#8217;t Think The Public Is Quite Aware Of The Madness That Goes On,&#8217; Says SpaceX CEO</a>
Why It Matters: The conflict between Musk and the FAA has been escalating. On Friday, Musk criticized the FAA, targeting Polly Trottenberg for her <a href="https://www.benzinga.com/news/24/09/40956691/spacex-ceo-elon-musk-rains-criticism-at-wrong-person-in-his-ongoing-tirade-against-faa">lack of aviation background</a>, though she was not the acting administrator. 
This followed Musk&#8217;s earlier accusations on Wednesday, where he claimed the FAA&#8217;s proposed fine on SpaceX was over &#8220;nonsense&#8221; that did not impact safety, contrasting it with Boeing's lack of penalties despite safety concerns.
On Thursday, Musk further criticized the FAA for focusing on &#8220;petty matters&#8221; regarding SpaceX while <a href="https://www.benzinga.com/markets/equities/24/09/40951122/elon-musk-blasts-faa-for-targeting-spacex-over-petty-matters-while-ignoring-boeings-safety-issue">ignoring significant safety issues</a> at Boeing. He argued that this misallocation of resources jeopardizes human lives. 
Musk&#8217;s letter to Congress highlighted the FAA&#8217;s inability to keep pace with the commercial spaceflight industry, addressing key members of Congress, including Rep.&nbsp;Frank Lucas&nbsp;(R-Okla.) and Sen.&nbsp;Ted Cruz&nbsp;(R-Texas).
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40968413/elon-musk-reacts-after-cathie-wood-labels-gavin-newsoms-threat-to-sue-tesla-ceo-over-memes-unconstit?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts After Cathie Wood Labels Gavin Newsom&#8217;s Threat To Sue Tesla CEO Over Memes &#8216;Unconstitutional&#8217;: &#8216;…But That Didn&#8217;t Stop Them&#8217;</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

SPACE

Legal

SpaceX In Violation Of Texas, Federal Law On Some Matters, Says FAA — Agency Hits Back At Elon Musk's Rocket Company

Billionaire investor and television celebrity Mark Cuban welcomed SEC Chair Gary Gensler&#8217;s intense grilling by legislators on his stance on cryptocurrencies, confirming that the Kamala Harris campaign was against &#8220;regulation through litigation.&#8221;
What Happened: On Tuesday, Cuban posted a video on X where Gensler was cross-examined by Rep.&nbsp;Ritchie Torres&nbsp;(D-N.Y.)&nbsp;at the House Financial Services Committee hearing. 
In the video, the Democratic Congressman asked the SEC&#8217;s top executive if there is a distinction between buying a Yankees ticket that granted access to a sporting event and buying a non-fungible token (NFT) that gave access to an animated web series as per Federal securities regulations. Gensler didn&#8217;t give a clear answer to the question. 
Responding to this, Cuban said that Gensler&#8217;s days at the SEC are numbered and his exit would result in a potential boost in GDP growth.
Cuban, who is also part of the Democratic-leaning <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40385566/mark-cuban-gets-an-assurance-out-of-chuck-schumer-will-pass-sensible-and-long-lasting-cryp">pro-cryptocurrency lobby</a>, revealed that the Harris campaign was vehemently against "regulation through litigation," something which Gensler has been accused of doing.
<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">I talked to the Harris team today who told me in no uncertain terms that they are against "regulation through litigation " CYA Gensler. You leaving is worth a point in GDP growth <a href="https://t.co/NbPd4RQSBF">https://t.co/NbPd4RQSBF</a>
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1838667484905578704?ref_src=twsrc%5Etfw">September 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
A long-time critic of Gensler, Cuban also referred to the SEC Chairman as a &#8220;blight on the technology community,&#8221; raising concerns about the Howey Test&#8217;s applicability in initiating enforcement actions against cryptocurrency entities.
<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">Gary Gensler is a blight on the technology community. He says Howey is the law of the land. If it was, there never would be a reason for Reves vs Ernst &amp;Young to exist <a href="https://t.co/QebV6xb3uy">https://t.co/QebV6xb3uy</a>
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1838604919105855756?ref_src=twsrc%5Etfw">September 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41012993/sec-charges-trusttoken-and-truecoin-with-fraud-and-unregistered-securities-offering-in-sta">SEC Charges TrustToken And TrueCoin With Fraud And Unregistered Securities Offering In Stablecoin Case</a>
Why It Matters: Cuban&#8217;s remarks reflected ongoing criticism of the SEC&#8217;s approach to cryptocurrency regulation. 
Previously, Torres raised <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40952899/gary-gensler-led-sec-invented-the-term-digital-asset-security-out-of-thin-air-says-democra">concerns over the usage of the term "digital asset security"</a> by the SEC, accusing the agency of inventing the term &#8220;out of thin air.&#8221; 
Pro-cryptocurrency SEC Commissioner Hester Peirce <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41009150/gary-gensler-led-sec-moved-forward-with-enforcing-crypto-regulation-despite-legal-problems">admitted that the agency proceeded with regulatory actions</a> against cryptocurrency companies despite potential legal implications. This approach, she noted, was detrimental to the SEC&#8217;s institutional integrity.
Image via Shutterstock
Image via Flickr/ Gage Skidmore
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41012444/crypto-expert-tells-anthony-scaramucci-that-gold-and-bitcoin-are-safeguards-against-curren">Crypto Expert Tells Anthony Scaramucci That Gold And Bitcoin Are Safeguards Against Currency Debasement</a></li>
</ul>

Regulations

Mark Cuban Calls Gary Gensler A 'Blight' After SEC Chair Gets Grilled On Crypto By Congress: 'You Leaving Is Worth A Point In GDP Growth'

On Tuesday, an executive from the cybersecurity firm CrowdStrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) faced questioning from House lawmakers regarding a global technology <a href="https://www.benzinga.com/markets/equities/24/07/39854612/windows-pcs-crash-worldwide-with-users-experiencing-blue-screen-of-death-issue-crowdstrike-updat">outage that occurred in July</a>.
What Happened: Adam Meyers, senior vice president of CrowdStrike, expressed his company&#8217;s regret for the incident that disrupted thousands of flights and various industries.
&#8220;We are deeply sorry this happened and are determined to prevent it from happening again,&#8221; Meyers stated during his opening remarks, <a href="https://thehill.com/homenews/house/4897374-crowdstrike-executive-testifies-outage/">reported</a> The Hill.
The hearing, held by the House Homeland Security Subcommittee on Cybersecurity and Infrastructure, was the first to address the July 19 update mishap by CrowdStrike.
The faulty update crashed computers running Microsoft Corporation&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Windows software, leading <a href="https://www.benzinga.com/news/24/07/39870321/tesla-ceo-elon-musk-blasts-satya-nadella-after-microsoft-crowdstrike-issue-takes-down-millions-of-co">to a global outage</a>.
See Also: <a href="https://www.benzinga.com/news/24/09/40911877/jeff-bezos-had-a-habit-of-keeping-an-empty-chair-for-the-most-important-person-in-the-room-at-compan?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jeff Bezos Had A Habit Of Keeping An Empty Chair For The Most Important Person In The Room At Company Meetings: This Strategy Helped The Amazon Founder Build The E-Commerce Giant We Know Today</a>
During the questioning, Meyers stated that the outage was not a result of a cyberattack but was caused by a rapid response content update from CrowdStrike.
&#8220;I can assure you that we will take the lessons learned from this incident and use them to inform our work as we improve for the future,&#8221; he said.
Homeland Security Committee Chair Rep. Mark Green (R-Tenn.) raised the pressing issue of artificial intelligence, questioning the executive responsible for approving the update and whether AI was involved in the decision, the report noted.
In response, Meyers said that AI had no role in the decision-making process, explaining that the update was one of 10 to 12 released daily by the company.
He added that the firm has stopped deploying updates to all customers simultaneously to prevent a recurrence of the issue.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: The global IT outage, attributed to a software update from CrowdStrike, was described as the "<a href="https://www.benzinga.com/news/24/07/39870313/microsoft-crowdstrike-issue-caused-largest-it-outage-in-history-showing-how-much-we-depend-on-a-hand">largest IT outage in history</a>,&#8221; impacting computer systems running on the Windows operating system and cloud services.
The incident affected businesses worldwide, including airlines, banks, media, and even 911 services.
Following the outage, Delta Air Lines, Inc. disclosed that it expects the operational disruptions to have a direct revenue <a href="https://www.benzinga.com/markets/equities/24/08/40279069/delta-bleeds-money-after-tech-disaster-pursues-legal-claims-against-crowdstrike-and-microsoft">impact of $380 million</a> for the September quarter due to flight cancellations and customer compensation.
Microsoft pointed the finger at Delta for its extended recovery from the outage, stating that the airline's lack of IT modernization contributed to the prolonged recovery.
Delta defended its IT infrastructure, stating it has invested billions in IT capital expenditures since 2016.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

CRWD

MSFT

CrowdStrike Executive Struck By Regret In House Hearing, Says Company Determined To Prevent Instances Like Microsoft Outage From Repeating: 'Deeply Sorry This Happened'

House Speaker Mike Johnson (R-La.) has said that the House will not pass a substantial bill to fund the government in December.
What Happened: Johnson made this revelation during a press conference on Tuesday, echoing a message he had previously shared privately in a House GOP conference meeting, <a href="https://thehill.com/homenews/house/4896433-mike-johnson-december-omnibus/">reported</a> The Hill.
&#8220;There won't be a Christmas omnibus,&#8221; said the House Speaker at the presser.
Despite the expectation of a stopgap to clear the House this week, set to expire on Dec. 20, Johnson is firm that there will be no Christmas omnibus. This marks a significant shift from historical norms, as Congress has frequently passed omnibus spending bills when funding deadlines align with year-end holidays.
Johnson&#8217;s promise is viewed as a daring move, considering his struggles to rally the slim House GOP majority behind a successful strategy to pressure the Democratic-controlled Senate and White House on spending.
The House is scheduled to vote on a continuing resolution (CR) to extend government funding until Dec. 20 on Wednesday, aiming to avoid a government shutdown on Oct. 1. Despite opposition from many conservatives, the bill is predicted to pass with Democratic support.
Johnson also ruled out the possibility of other large funding legislation packages, such as &#8220;minibuses&#8221; — bills that combine funding for some, but not all, areas of government.
House Majority Leader Steve Scalise (R-La.) supported Johnson&#8217;s stance, framing this week&#8217;s stopgap bill as a victory as it did not include additional funding that Senate Democrats desired.
Johnson cited last year&#8217;s extension of government funding to two separate dates past December as evidence that he could avoid an omnibus this year. He stressed his resolve to break away from the &#8220;terrible tradition&#8221; of the Christmas omnibus.
He said, &#8220;We don't want any buses. We're not going to do any buses, OK?" 
See Also: <a href="https://www.benzinga.com/news/24/09/40969584/trump-vs-harris-this-candidate-has-the-edge-in-latest-swing-state-polls?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs Harris: This Candidate Has The Edge In Latest Swing State Polls</a>
Why It Matters: Johnson&#8217;s announcement comes in the wake of a series of events that have shaped the current funding landscape. Earlier, a significant development occurred when <a href="https://www.benzinga.com/news/24/09/40931809/house-republicans-reject-their-own-funding-bill-as-government-shutdown-looms-mike-johnson-says-we-ha">House Republicans rejected Johnson&#8217;s proposal</a> to fund the government, complicating efforts to avoid a government shutdown.
Despite this setback, Johnson and other GOP leaders proposed a <a href="https://www.benzinga.com/news/24/09/40972702/house-gop-leaders-pitch-3-month-funding-plan-drop-trump-backed-voter-id-proposal-mike-johnson-says-s">three-month plan</a> to keep the government funded, reducing the initial six-month proposal and excluding a Donald Trump-endorsed measure requiring proof of citizenship to vote.
Senate Majority Leader, Chuck Schumer (D-N.Y.), had earlier warned that the Republicans <a href="https://www.benzinga.com/news/24/09/40890590/chuck-schumer-says-if-government-shutdown-happens-it-will-because-of-republican-poison-pills-the-ame">would be held accountable</a> if a government shutdown occurred due to &#8220;poison pills.&#8221;
Image via Shutterstock
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Mike Johnson Vows No Christmas Omnibus, Breaking From A 'Terrible Tradition': 'We're Not Going To Do Any Buses, OK?'

The early resumes of tech industry pioneers Steve Jobs and Bill Gates resurfaced online last month, making it clear that even at the age of 18, they were already showcasing impressive skills.
What Happened: Bloomberg&#8217;s Jon Erlichman took to X and posted the resumes, describing them as &#8220;Steve Jobs and Bill Gates&#8217; resumes at age 18.&#8221;
At the time of writing, his post had garnered over 119,000 views and&nbsp;nearly 1,300 likes.
The 1973 resume of Jobs, co-founder of Apple Inc., was partially handwritten. It highlights &#8220;electronics tech&#8221; as one of his special abilities, with &#8220;design engineering&#8221; as his interest.
Jobs said he majored in English literature and gave his address out as &#8220;Reed College.&#8221; Interestingly, according to the college website, he was a student there in the fall of 1972 and dropped out after just one semester. He continued living on the campus and auditing classes including Shakespeare, modern dance, and calligraphy. 
One user in the comments noted that Jobs&#8217; resume lacked a phone number, which is ironic considering he later revolutionized the global phone industry with the launch of the iPhone.
His answer to the &#8220;Access to transportation&#8221; question was also praised by some people. Jobs had answered the question, saying, &#8220;Possible, but not probable.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40974511/iphone-15-pro-models-and-iphone-13-discontinued-by-apple-heres-why?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">iPhone 15 Pro Models and iPhone 13 Discontinued By Apple: Here&#8217;s Why</a>
On the other hand, Gates&#8217;&nbsp;resume, written during his first&nbsp;year at Harvard University in 1974,&nbsp;shows him applying for the&nbsp;role of &#8220;System Analyst or System Programmer.&#8221;
Social media users found it amusing to see Gates&#8217; height and weight listed on his resume. The Microsoft Corporation co-founder had also listed his current salary as $15,000.
<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">Steve Jobs and Bill Gates' resumes at age 18: <a href="https://t.co/tFTltp80jM">pic.twitter.com/tFTltp80jM</a>
&mdash; Jon Erlichman (@JonErlichman) <a href="https://twitter.com/JonErlichman/status/1828389562332098642?ref_src=twsrc%5Etfw">August 27, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Jobs, who passed away in 2011, was <a href="https://www.benzinga.com/markets/equities/24/09/40876783/steve-jobs-came-back-to-apple-27-years-ago-today-after-12-years-in-exile-if-you-invested-1-000-w">celebrated for his visionary leadership</a> at Apple, where he transformed the personal computer industry.
He returned to&nbsp;Apple in 1997&nbsp;after a 12-year hiatus, saving the company from bankruptcy and leading it to become one of the world&#8217;s largest tech firms.
Meanwhile, Gates has made significant contributions to&nbsp;personal computing and software and&nbsp;is also recognized for his philanthropic efforts.
After dropping out of college at 19, Gates co-founded Microsoft and transformed it into a global tech powerhouse.
His unique approach to financial management and business acumen led him to dominate the Forbes list of the world&#8217;s wealthiest individuals for <a href="https://www.benzinga.com/personal-finance/24/07/39600675/bill-gates-was-the-worlds-richest-man-for-a-record-18-years-his-secret-to-success-saving-like-a-">18 out of 23 years from 1995 to 2017</a>.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Images via Shutterstock and Wikimedia
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

'Possible, But Not Probable': Steve Jobs' Witty Transportation Answer In 1973 Resume Earns Him Online Accolades — Bill Gates $15k Salary No Less Impressive In The Same Era

ORGS

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

Vice President Kamala Harris continues to lead former President Donald Trump in a head-to-head poll of likely voters with less than 50 days to go until the<a href="https://www.benzinga.com/topic/2024-election"> 2024 presidential election.</a>
What Happened: Since the Sept. 10 presidential debate, Harris has led in most head-to-head polls against the former president and has been given an edge <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40993290/trump-vs-harris-2024-election-betting-odds-show-vice-president-maintains-lead-as-race-near">in betting odds </a>and prediction markets.
Polls pointed to Harris being<a href="https://www.benzinga.com/general/politics/24/09/40824831/harris-vs-trump-swing-state-voters-pick-presidential-debate-winner-share-thoughts-on-immigration" target="_blank" rel="noreferrer noopener"> crowned the winner</a> of the first presidential debate between her and the former president. Trump <a href="https://www.benzinga.com/general/politics/24/09/40843816/trump-declines-harris-debate-challenge-there-will-be-no-third-debate" target="_blank" rel="noreferrer noopener">declined to do more debates </a>ahead of the election and said he won the first meeting between the two candidates.
A new Morning Consult poll of likely voters shows Harris&#8217; lead growing after the presidential debate.
The new poll shows the following results from voters, with the results from the<a href="https://www.benzinga.com/general/politics/24/09/40910999/trump-in-trouble-vice-president-harris-has-record-6-point-lead-in-2024-election-poll-after-debat"> Sept. 17 poll </a>in parentheses:
<ul>
<li>Kamala Harris: 50% (51%)</li>
<li>Donald Trump: 45% (45%)</li>
<li>Someone Else: 2% (2%)</li>
<li>Don't Know: 3% (2%)</li>
</ul>
The poll found that 94% of Democrats backed Harris as their top pick, in line with last week's poll. The poll also found 91% of Republicans backed Trump as their top pick, which was in line with last week's poll.
Independent voters selected the following as their head-to-head preference, with the results from the Sept. 17 poll in parentheses:
<ul>
<li>Kamala Harris: 46% (47%)</li>
<li>Donald Trump: 42% (41%)</li>
<li>Someone Else: 6% (6%)</li>
<li>Don't Know: 6% (6%)</li>
</ul>
The vice president also has the edge in the 18-34 age voters demographic, leading 54% to 42%. The 12-point lead is down from last week's 15-point lead, but well ahead of past leads of 10 points and five points last month.
Among Black voters, Harris leads of 80% to 16%. This marks the highest support for Harris since polling began and the lowest for Trump in the demographic in the 2024 election cycle.
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</ul>
 Why It's Important: There is good and bad news for both candidates in the latest poll.
Harris' record lead of six points last week drops to a five-point lead. Harris also saw her lead in the 18-34 age demographic and among Independent voters fall, which could be welcome signs for Trump.
The latest poll shows Harris with a favorable rating of 53%, in line with last week's poll and tied for the largest rating for Harris in the 2024 election cycle. With an unfavorable rating of 44 points, Harris' net favorability hits a record +9 points.
For comparison, Trump has a 45% favorable rating and 53% unfavorable rating, good for a net favorability of -8 points. Trump's net favorability has often been negative during the election cycle.
When it comes to running mates, Harris' vice-presidential pick Minnesota Gov. Tim Walz ranks significantly ahead of Trump's vice-presidential pick Sen. J.D. Vance in net favorability. Walz has a net favorability of +9 while Vance has a net favorability of -10.
With less than two months to go in the 2024 election, the race remains close and the five-point and growing lead could be a sign of a potential shift in how close the race is. But it&#8217;s important to remember that polls are not entirely perfect.
Biden had an eight-point lead over Trump two months before the 2020 election and ended up winning the popular vote by four points.
While Harris leads in several key demographics such as independents and young voters, the 2024 election will likely come down to swing states.
Morning Consult recently released the results of likely voters<a href="https://www.benzinga.com/topic/swing-states" target="_blank" rel="noreferrer noopener"> in swing states </a>and several other states expected to be close. Here are the current <a href="https://pro.morningconsult.com/trackers/2024-election-state-polls?utm_source=briefing&amp;utm_medium=email&amp;utm_campaign=washington_am&amp;utm_content=091024" target="_blank" rel="noreferrer noopener">results</a>:
<ul>
<li>Arizona: 49% Trump, 47% Harris </li>
<li>Georgia:&nbsp;48% Harris, 48% Trump</li>
<li>Michigan: 49% Harris, 46% Trump</li>
<li>Nevada:&nbsp;48% Harris, 48% Trump</li>
<li>North Carolina:&nbsp;48% Harris, 48% Trump</li>
<li>Pennsylvania: 49% Harris, 46% Trump</li>
<li>Wisconsin: 49% Harris, 46% Trump</li>
</ul>
In the key seven swing states, Harris leads in three states, Trump leads in one state and the two candidates are tied in three states.
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Photo: Shutterstock

Harris Vs. Trump: 2024 Election Poll Shows Good, Bad News For Each Candidate

Editor&#8217;s Note: A correction was made to the fourth quarter revenue. 
Stitch Fix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFIX#NASDAQ">SFIX</a>) shares are trading lower after the company reported its fourth-quarter financial results after Tuesday's closing bell. Here's a look at the <a href="https://www.benzinga.com/pressreleases/24/09/g41013979/stitch-fix-announces-fourth-quarter-and-full-fiscal-year-2024-financial-results">details from the report. </a>
The Details: Stitch Fix reported quarterly losses of 29 cents per share, which missed the analyst consensus estimate for losses of 19 cents. Quarterly revenue of $319.6 million beat the analyst consensus estimate of $318.5 million and is a 12.4% decrease year-over-year.
&#8220;We are executing our transformation strategy with discipline and, during the fourth quarter, we delivered results at the high end of our guidance on both the top and bottom line,&#8221; said Matt Baer, CEO of Stitch Fix. 
&#8220;I am proud of the Stitch Fix team&#8217;s efforts this past fiscal year and encouraged by the progress we have already made to strengthen the foundation of our business and reimagine our client experience. While there is a lot of work still to do, I am confident we are on the right path to continue to improve the trajectory of our business which includes returning to revenue growth by the end of FY26,&#8221; Baer added. 
Read Next:<a href="https://www.benzinga.com/news/24/09/41011763/whats-going-on-with-intel-stock"> What&#8217;s Going On With Intel Stock?</a>
Outlook: Stitch Fix sees first-quarter revenue in a range of $303 million to $310 million and fiscal year 2025 revenue in a range of $1.11 billion to $1.16 billion. 
SFIX Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Stitch Fix shares are down 19.15% after-hours at $3.07 at the time of publication Tuesday.&nbsp;
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Photo: Courtesy of Stitch Fix, Inc.&nbsp;

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Boeing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) should be able to <a href="https://www.benzinga.com/general/space/24/09/41013092/boeing-vs-spacex-will-stumbles-in-union-negotiations-space-travel-weaken-aerospace-giants-standing-">quickly ramp up</a> aircraft production once the strike ends, according to an analyst.
Goldman Sachs analyst Noah Poponak said he expects the strike, which began on Sept. 13, will end soon, though the International Association of Machinists and Aerospace Workers, a union representing roughly 33,000 Boeing workers, rejected the company&#8217;s <a href="https://www.benzinga.com/general/24/09/40996898/boeings-striking-workers-reject-best-and-final-offer-it-missed-the-mark-on-many-of-the-things">&#8220;best and final offer&#8221;</a> on Monday.
&nbsp;&#8220;IAM workers at Boeing are on strike, though we expect a resolution soon, and for Boeing to be able to pick back up its aircraft production and delivery momentum,&#8221; Poponak wrote in a note Tuesday.
&#8220;Deliveries the last few months have improved and September was tracking quite strong before the strike.&#8221;
The striking machinists produce the 737 Max, Boeing's top-selling airliner, the 777 jet and the 767 cargo plane.
On the same day the strike began, Moody&#8217;s Investment Ratings said it would look at how the strike would impact the company&#8217;s production and cash flow while maintaining the lowest investment-grade rating for the company.
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&#8220;Boeing is therefore likely considering options to raise capital to maintain its credit rating, and more debt does not solve near-term concerns,&#8221; Poponak wrote.
&#8220;We assume Boeing raises $12bn of equity before year-end, which matches the total maturities due in 2025 + 2026, and keeps the cash balance well north of $10bn in the near-to-medium-term while they ramp back up commercial deliveries and strive to resolve defense profitability.&#8221;
He said raising $12 billion in equity in the fourth quarter would put the company&#8217;s cash balance at or above $20 billion, which would give Boeing &#8220;ample cushion&#8221; providing ample cushion as new CEO Kelly Ortberg comes in and starts to lay out a strategic path forward.&nbsp;
&#8220;While BA continues to face several challenges to work through near-term, we see attractive valuation relative to long-term fundamentals and are Buy rated on the stock,&#8221; Poponak said.
BA Price Action: Boeing declined 0.30% to close at $155.81 on Tuesday.
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Photo: Shutterstock

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Boeing Should Pick Up Aircraft Production Soon After Strike End, Analyst Says

Amid signs of easing inflation and solid economic activity, savvy investors are eyeing under-the-radar opportunities with massive upside potential. Discover why MGM Resorts (MGM), UiPath (PATH), and GigaCloud (GCT) could be smart picks as these stealthy stocks capitalize on emerging market trends. Keep reading... In the fast-paced investing world, the most promising opportunities often lie beneath the radar. While headlines tend to spotlight the high-flying tech giants or the latest market sensations, several stealthy stocks quietly accumulate value, positioning themselves for significant gains.
These hidden gems are poised to deliver substantial upside potential as they continue to execute their growth strategies and capitalize on emerging market trends. So, it could be wise to invest in stealthy stocks MGM Resorts International (<a href="https://stocknews.com/stock/MGM/">MGM</a>), UiPath Inc. (<a href="https://stocknews.com/stock/PATH/">PATH</a>), and GigaCloud Technology Inc. (<a href="https://stocknews.com/stock/GCT/">GCT</a>) with massive upside potential.
The <a href="https://www.cnbc.com/2024/08/02/job-growth-totals-114000-in-july-much-less-than-expected-as-unemployment-rate-rises-to-4point3percent.html">U.S. job growth slowed more than expected</a> in July, and the unemployment rate surged to 4.3%, fueling fears of a broader economic slowdown. Nonfarm payrolls rose by 114,000 for the month, down from 179,000 in June and below the Dow Jones estimate of 185,000. However, annual inflation dipped below 3% in July for the first time since 2021.
Easing inflation is a relief to investors anticipating a Federal Reserve interest rate cut next month, as a sense of unease has gripped Wall Street following signs of a cooling labor market. Moreover, <a href="https://www.cnbc.com/2024/07/25/us-gdp-q2-2024.html">economic activity in the U.S.</a> was stronger than expected in the second quarter, driven by a solid consumer, government spending, and a sizeable inventory build.
The personal consumption expenditures (PCE) price index increased by 2.6% for the second quarter, down from a 1.4% rise in the first quarter. Economists surveyed by Dow Jones estimated growth of 2.1%.
According to Treasury Secretary Janet Yellen, the GDP report is "affirming the path we're on to steady growth and declining inflation."
Amid this macroeconomic backdrop, explore stocks MGM, PATH, and GCT currently flying under the radar. These companies, each operating in distinct sectors, have shown strong fundamentals, innovative approaches, and strategic advantages that set them apart from their peers.
Let's discuss the fundamentals of the featured stocks in detail:
MGM Resorts International (<a href="https://stocknews.com/stock/MGM/">MGM</a>)
MGM owns and operates casinos, hotels, and entertainment resorts internationally. The company operates through three segments: Las Vegas Strip Resorts; Regional Operations; and MGM China. Its customers include premium gaming customers, leisure and wholesale travel customers, business travelers, and group customers, such as conventions and trade associations.
On August 15, MGM and Grupo Globo, Latin America's leading media group, announced a new venture to seek a sports betting and iGaming license in Brazil. If the license is approved later this year, the venture will launch in Brazil in early 2025 under the BetMGM brand, offering a responsible and top-tier betting platform to one of the world's fastest-growing regulated markets.
The new BetMGM-branded venture in strategic alliance with Grupo Globo will allow MGM to quickly enter the market with the scale and expertise required to establish an early foothold as a prominent operator and provider of the best experience to customers across Brazil.
For the second quarter that ended June 30, 2024, MGM's casino revenues were $2.21 billion, up 13.4% year-over-year. Its total revenues increased 9.8% year-over-year to $4.33 billion. Its operating income rose 14.6% from the prior year's quarter to $425.66 million. Furthermore, its adjusted EPS grew 45.8% from the year-ago value to $0.86.
Analysts expect MGM's revenue and EPS for the fiscal year (ending December 2024) to increase 7.4% and 3.9% year-over-year to $17.36 billion and $2.77, respectively. Moreover, the company surpassed the consensus revenue and EPS estimates in each of the trailing four quarters.
Over the past three months, the stock has plunged 4.7% to close the last trading session at $39.40. However, MGM's 12-month price forecast of $55.67 indicates an <a href="https://www.tipranks.com/stocks/mgm/forecast">upside potential of 41.3%</a>.
MGM's sound fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
MGM has a B grade for Value. It is ranked #14 among 25 stocks within the B-rated <a href="https://stocknews.com/category/entertainment-casinos-gambling/">Entertainment - Casinos/Gambling</a> industry.
To see the additional ratings of MGM for Quality, Growth, Momentum, Stability, and Sentiment, <a href="https://stocknews.com/stock/MGM/">click here</a>.
UiPath Inc. (<a href="https://stocknews.com/stock/PATH/">PATH</a>)
PATH provides an end-to-end automation platform that offers a diverse range of robotic process automation (RPA) solutions, primarily in the U.S., Romania, the United Kingdom, and the Netherlands.
On July 2, UiPath introduced new features in its platform which infuse GenAI deeply into the UiPath Business Automation Platform&#x2122; to help businesses achieve better outcomes with AI and automation. The company fulfills the promise of AI-powered productivity with the launch of UiPath Autopilot&#x2122; for developers and testers. These innovations should bode well for the company.
In May, PATH announced an integration between the UiPath Business Automation Platform and Microsoft Copilot for Microsoft 365. This collaboration will allow joint customers to automate more knowledge work and improve end-user experiences with UiPath. Microsoft Azure remains a preferred cloud platform for UiPath, including UiPath Automation Cloud&#x2122;.
During the first quarter that ended April 30, 2024, PATH's total revenue increased 15.7% year-over-year to $335.12 million. Its non-GAAP <a href="https://www.investopedia.com/terms/g/grossprofit.asp">gross profit</a> rose 13.7% from the year-ago value to $288.21 million. Its non-GAAP net income and net income per share were $73.22 million and $0.13, up 14.8% and 18.2% from the prior-year quarter, respectively.
Street expects PATH's revenue for the second quarter (ended July 2024) to increase 5.7% year-over-year to $303.67 million. The consensus revenue estimate of $1.41 billion for the fiscal year ending January 2025 indicates an improvement of 7.7% year-over-year. Moreover, the company topped consensus revenue and EPS estimates in all four trailing quarters.
PATH's stock has gained 2.5% over the past five days and marginally over the past month to close the last trading session at $12.09. Further, the stock's 12-month price forecast of $15.62 indicates an <a href="https://www.tipranks.com/stocks/path/forecast">upside potential of 29.2%</a>.
PATH's POWR Ratings reflect its promising prospects. The stock has a B grade for Quality. It is ranked #12 out of 18 stocks in the A-rated <a href="https://stocknews.com/category/software-saas/">Software – SAAS</a> industry.
<a href="https://stocknews.com/stock/PATH/">Click here</a> to see the additional POWR Ratings for PATH (Sentiment, Growth, Value, Momentum, and Stability).
GigaCloud Technology Inc. (<a href="https://stocknews.com/stock/GCT/">GCT</a>)
GCT offers end-to-end B2B e-commerce solutions for large parcel merchandise. It provides GigaCloud Marketplace, which integrates product discovery, payments, and logistics tools into one platform. Its marketplace connects manufacturers in Asia with resellers in the U.S., Asia, and Europe to execute cross-border transactions across furniture, home appliances, and more.
On April 30, GCT announced that its global fulfillment network exceeded 10 million square feet of total space after the signing of a new lease in Ontario, California. This expansion bolsters GigaCloud's capacity to support the continued growth of its B2B marketplace and deliver enhanced fulfillment services to its B2B marketplace participants.
On April 4, GCT launched its industry-first service, "Branding-as-a-Service" or "BaaS," which is designed to improve the competitiveness of furniture suppliers, where the GigaCloud BaaS Program selects and allows sellers in the B2B GigaCloud Marketplace to sell products under one of the leading American furniture brands, Christopher Knight Home.
GCT's total revenues increased 103.1% year-over-year to $310.90 million in the second quarter that ended June 30, 2024. The company's gross profit grew 89.1% from the year-ago value to $76.40 million. Its adjusted EBITDA came in at $42.70 million, up 71.5% from the previous year's quarter.
In addition, the company's adjusted EPS rose 68.9% year-over-year to $1.03. Its cash, cash equivalents, restricted cash, and investments were $209.70 million as of June 30, 2024, compared to $184.20 million as of December 31, 2023.
Analysts expect GCT's revenue and EPS for the third quarter (ending September 2024) to increase 58.3% and 21.5% year-over-year to $282 million and $0.72, respectively. Further, the company surpassed consensus revenue estimates in each of the trailing four quarters.
Shares of GCT have surged 20.9% year-to-date and 75.7% over the past year to close the last trading session at $22.12. Additionally, the stock's 12-month price forecast of $59.50 indicates an <a href="https://www.tipranks.com/stocks/gct/forecast">upside potential of 169%</a>.
GCT's solid outlook is reflected in its POWR Ratings. The stock has a B grade for Momentum and Value.
Within the <a href="https://stocknews.com/category/technology-services/">Technology – Services</a> industry, GCT is ranked #26 out of 75 stocks. <a href="https://stocknews.com/stock/GCT/">Click here</a> to access additional ratings of GCT for Sentiment, Quality, Growth, and Stability.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
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<hr />
MGM shares rose $0.10 (+0.25%) in premarket trading Wednesday. Year-to-date, MGM has declined -11.82%, versus a 18.29% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Mangeet Kaur Bouns</h2> <img src='https:/wp-content/uploads/2022/01/Mangeet-Kaur-Bouns_Image-4.jpg' style="float:left; padding:5px;width:125px;">Mangeet's keen interest in the stock market led her to become an investment researcher and financial journalist. Using her fundamental approach to analyzing stocks, Mangeet's looks to help retail investors understand the underlying factors before making investment decisions.<a href="https://stocknews.com/authors/?author=mangeet-kaurbouns">More...</a>The post <a href=https://stocknews.com/news/mgm-path-gct-3-stealthy-stocks-with-massive-upside-potential/>3 Stealthy Stocks With Massive Upside Potential</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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