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Goldman Sachs Enters Junk Bond ETF Fray

The question of&nbsp;whether&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/02/37399976/nvidia-microsoft-back-figure-ai-with-675m-investment-for-humanoid-robots-integration" rel="noreferrer noopener">AI and robots</a>&nbsp;will replace humans in the workplace has been a growing concern. However, in a recent appearance on CBS&nbsp;News&#8217;&nbsp;&#8220;60 Minutes,&#8221;&nbsp;Nvidia Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO&nbsp;Jensen Huang&nbsp;offered some reassurance.
Job Security In The AI Age:&nbsp;During the&nbsp;<a target="_blank" href="https://www.cbsnews.com/news/meet-nvida-ceo-jensen-huang-company-powering-ai-today-60-minutes-transcript/" rel="noreferrer noopener">interview</a>, host&nbsp;Bill Whitaker&nbsp;spoke with&nbsp;Brett Adcock, CEO of Nvidia-funded&nbsp;Figure AI, about the&nbsp;company&#8217;s&nbsp;robot prototype, Figure 01.&nbsp;
Adcock emphasized the&nbsp;robot&#8217;s&nbsp;capabilities, including physical tasks like walking and reasoning. When&nbsp;prompted for a healthier option, the robot even managed to pick an orange from a basket of mixed snacks.
Adcock&#8217;s&nbsp;remarks sparked concerns about human job displacement, prompting Whitaker to ask Huang about his&nbsp;&#8220;worst fears&#8221;&nbsp;regarding AI. Huang&nbsp;responded with a focus on companies benefiting from increased productivity through AI.
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/best-artificial-intelligence-stocks" rel="noreferrer noopener">Best Artificial Intelligence Stocks</a>
&#8220;The workers are for companies,&#8221;&nbsp;Huang explained.&nbsp;&#8220;And&nbsp;so companies, when they become more productive, earnings increase.&nbsp;I&#8217;ve&nbsp;never seen one company that had earnings increase and&nbsp;not&nbsp;hire more people.&#8221;
While acknowledging potential job obsolescence, Huang emphasized the continued value of human judgment.&nbsp;&#8220;I believe that you still want humans in the&nbsp;loop,&nbsp;because we have good judgment, because there are circumstances that the machines are not — just not going to understand.&#8221;
The Broader Conversation:&nbsp;The&nbsp;&#8220;man vs. machine&#8221;&nbsp;debate has intensified with the rise of AI, particularly since the popularity of&nbsp;OpenAI&#8217;s&nbsp;ChatGPT in early 2023. Experts&nbsp;offer differing perspectives on&nbsp;AI&#8217;s&nbsp;impact.&nbsp;Karim&nbsp;Lakhani,&nbsp;a Harvard Business School&nbsp;professor,&nbsp;who specializes&nbsp;in&nbsp;AI&nbsp;<a target="_blank" href="https://hbr.org/2023/08/ai-wont-replace-humans-but-humans-with-ai-will-replace-humans-without-ai" rel="noreferrer noopener">said</a>&nbsp;in a 2023 interview,&nbsp;&#8220;AI is not going to replace humans, but humans with AI are going to replace humans without AI.&#8221;&nbsp;
Mark Murphy, head of U.S. Enterprise Software Research at JP Morgan, sees AI as amplifying human productivity and not as something that would displace humans. 
"We see the potential for a massive workforce productivity boom over the next one to three years, which could affect the shape of the economic cycle. There could also be mass-scale white-collar job realignment four to eight years from now,&#8221; he said. 
These viewpoints align with&nbsp;Ark Investment Management&nbsp;CEO&nbsp;Cathie&nbsp;Wood&#8216;s&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/22/05/27339602/cathie-wood-has-cure-for-sagging-gdp-growth-sees-this-technology-accelerating-annua" rel="noreferrer noopener">predictions from 2022</a>&nbsp;when she said artificial general intelligence (AGI) can significantly boost economic growth.
Market&#8217;s Take on AI: The Global X Artificial Intelligence &amp; Technology ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIQ#NASDAQ">AIQ</a>) closed Monday&#8217;s session up 0.34% at $32.76, and is up over 5% this year, indicating continued investor interest in the AI sector, according to <a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data.</a>
Photo courtesy: Nvidia Corp on Flickr

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Nvidia CEO Jensen Huang Predicts AI Will Make Companies Hire More Workers With Higher Earnings: 'There Are Circumstances... Machines Are Just Not Going To Understand'

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CPAC

REported Late Monday, Cementos Pacasmayo Q1 EPS S/0.12 Up From S/0.10 YoY; Sales S/476.55M, Down From S/479.99M YoY

Research and brokerage firm Bernstein remains optimistic about the future of the cryptocurrency market despite the recent slowdown in <a href="https://www.benzinga.com/topic/spot-bitcoin-etf">spot bitcoin exchange-traded fund (ETFs)</a> flows.
What Happened: In a recent research note, Bernstein analysts Gautam Chhugani and Mahika Sapra suggested that the Bitcoin lull is temporary. They expect an upward trajectory, with Bitcoin potentially reaching a $150,000 price target by the end of 2025, The Block <a href="https://www.theblock.co/post/291372/bernstein-bitcoin-etf-flows-short-term-pause?utm_source=rss&amp;utm_medium=rss">reported</a>.
The integration of Bitcoin ETFs into mainstream financial platforms, such as private banks, wealth advisors and brokerages, will require time, they say. These institutions develop the necessary compliance frameworks. 
Chhugani and Sapra also point to the impressive $12 billion in net inflows since the launch of spot bitcoin ETFs and the robust performance of leading <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38456246/bitcoin-miner-marathon-digital-targets-its-hash-rate-to-double-in-2024">Bitcoin miners</a> post-halving as indicators of the market&#8217;s underlying strength.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38493455/bitcoin-is-in-correction-mode-but-thats-necessary-for-the-chart-to-look-good-crypto-trader" target="_blank" rel="noreferrer noopener">‘Bitcoin Is In Correction Mode,' But That's ‘Necessary For The Chart To Look Good,' Crypto Trader Reassures</a>
Ethereum ETFs: The analysts predict that if the U.S. Securities and Exchange Commission (SEC) denies <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38404202/why-sec-delays-put-the-may-ethereum-etf-deadline-in-doubt">spot Ethereum ETFs</a>, it would likely be overturned in court.
They drew parallels to the Grayscale Bitcoin ETF case and cited the inconsistent correlation between spot and futures markets.
If the SEC were to deny on the basis of ether being classified as a security, it would create a conflicting situation with the Commodity Futures Trading Commission (CFTC), which views ether as a commodity.
In either scenario, the analysts suggest that an SEC denial could shift the market focus back to ether, which they believe offers an appealing risk-reward profile given its recent underperformance relative to bitcoin. This renewed attention could also benefit &#8220;ETH-beta&#8221; Layer-2 tokens, such as Arbitrum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">ARB</a>), Optimism (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">OP</a>), and Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/matic/usd">MATIC</a>).
The Bernstein analysts also highlighted the growth potential of various other crypto niches and projects. They noted Solana&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) strong position in crypto payments, the expanding influence of DeFi platforms like Uniswap (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/uni/usd">UNI</a>), GMX (CRYPTO: GMX), and Synthetix (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/snx/usd">SNX</a>), and the real-world asset market.
In conclusion, Chhugani and Sapra reaffirmed their projection that the total crypto market cap will surge to $7.5 trillion within the next 18 to 24 months, even amid the current market consolidation. The analysts remain optimistic about the long-term prospects of the asset class and its capacity to transform traditional financial structures.
What&#8217;s Next: These topics are expected to be thoroughly explored at Benzinga&#8217;s upcoming <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a>&nbsp;event on Nov. 19.
Read Next:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38279616/bitcoin-and-ethereum-take-center-stage-according-to-coinbase-q2-crypto-market-guide" target="_blank" rel="noreferrer noopener">Bitcoin And Ethereum Take Center Stage According To Coinbase Q2 Crypto Market Guide</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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

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These Analysts Keep $150K Bitcoin Price Target Despite Slowing ETF Inflows

Today,&nbsp;<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fabout.mattel.com%2F&amp;esheet=53967549&amp;newsitemid=20240430517324&amp;lan=en-US&amp;anchor=Mattel%2C+Inc.&amp;index=1&amp;md5=390bbd09063d58181c9df828f3976318">Mattel, Inc.</a>&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>) announced the&nbsp;<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fcreations.mattel.com%2Fproducts%2Fmatchbox-mercedes-benz-g-580-with-eq-technology-hxm19&amp;esheet=53967549&amp;newsitemid=20240430517324&amp;lan=en-US&amp;anchor=Matchbox%26%23174%3B+Mercedes-Benz+G+580+with+EQ+Technology+die-cast+car&amp;index=2&amp;md5=89daede988e8feb72753e63ee43cf9c2">Matchbox&reg; Mercedes-Benz G 580 with EQ Technology die-cast car</a>. The new die-cast vehicle was created to celebrate the iconic Mercedes-Benz G-Class and the recent reveal of its all-new electric model. Now Matchbox has unveiled its realistic and highly detailed model for fans to enjoy. The premium die-cast car features recycled metal and a minimum of&nbsp;81%&nbsp;ISCC-certified plastic (mass balance approach&#x2A;), highlighting how Matchbox is evolving its product offerings.

Matchbox Rolls Out Mercedes-Benz G 580 Model: Eco-Friendly Die-Cast with Recycled Materials

SynOx Therapeutics Limited (&quot;SynOx&quot; or the &quot;Company&quot;), the late-stage clinical biopharmaceutical company developing emactuzumab for the treatment of Tenosynovial Giant Cell Tumour (TGCT) and other diseases, today announces it has entered into a&nbsp;$35m&nbsp;loan facility with Hercules Capital, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HTGC#NYSE">HTGC</a>) (&quot;Hercules&quot;).

HTGC

Synox Therapeutics Secures Up To $35M Debt Financing With Hercules Capital To Progress Development And Commercialization Of Emactuzumab

Elbit Systems Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESLT#NASDAQ">ESLT</a>) (TASE: ESLT)&nbsp;(&quot;Elbit Systems&quot; or the &quot;Company&quot;) announced today it was awarded a contract in an amount of approximately&nbsp;$50 million&nbsp;for its new air defense system, &quot;Red Sky&quot;&trade;, by an international customer. The contract will be executed over a period of 2 years.

ESLT

Elbit Systems Bags $50M Deal for a New Air Defense System by an International Customer

Bayer and the German-based life science company, Evotec, announced today that they have updated the focus of their strategic collaboration to developing innovative precision treatments for cardiovascular diseases (CVDs).
The collaboration aims to identify and validate novel targets, with the goal of building a portfolio of precision cardiology therapeutics by leveraging Evotec&#39;s disease modelling capabilities using human induced pluripotent stem cells (iPSCs). iPSCs provide unique opportunities to identify new disease mechanisms and pathways for novel treatments.
Under the terms of the agreement, both companies will contribute drug targets and a comprehensive set of high-quality technology platforms for the development of innovative treatment options.

Bayer and Evotec Collaborate to Advance Precision Cardiology, Financial Terms Undisclosed

<div>Outlook</div>
<div>Our guidance remains unchanged from that set out at our full-year results on 21 February 2024. We continue to target a return on</div>
<div>average tangible equity (&lsquo;RoTE&lsquo;), excluding the impact of notable items, in the mid-teens for 2024, with banking net interest income (&lsquo;banking</div>
<div>NII&lsquo;) of at least $41bn, dependent on the path of interest rates globally. We are reconfirming our cost growth guidance of approximately 5%</div>
<div>for 2024 compared with 2023, on a target basis, and ECL charges as a percentage of average gross loans of around 40bps in 2024.</div>
<div>&nbsp;</div>
<div>Our guidance reflects our current outlook for the global macroeconomic environment, including customer and financial markets activity. This</div>
<div>includes our modelling of a number of market dependent factors, such as market-implied interest rates (as of early April 2024), as well as</div>
<div>customer behaviour and activity levels.</div>
<div>&nbsp;</div>
<div>We intend to manage our CET1 capital ratio within our medium-term target range of 14% to 14.5%, with a dividend payout ratio target of</div>
<div>50% for 2024, excluding material notable items and related impacts.</div>

Guidance

HSBC

HSBC 2024 Outlook Unchanged: Sees NII Of At Least $41B And RoTE In The Mid-Teens For 2024; Expects To Maintain the CET1 Capital Ratio Within 14% To 14.5%

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Economics

France Harmonised Index of Consumer Prices (MoM) Preliminary 0.6% Vs. 0.5% Est.; 0.2% Prior

France Consumer Price Index (MoM) Preliminary For April 0.5% Vs. 0.5% Est.; 0.2% Prior

Formula One (F1) is experiencing a significant shift in its fanbase, with the popular Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) series &#8220;Drive to Survive&#8221; playing a pivotal role. The show has not only attracted a more diverse audience but has also transformed the way fans engage with the sport.
What Happened: The impact of &#8220;Drive to Survive&#8221; on F1&#8217;s fanbase. The show, which debuted in 2019, has been credited with not only popularizing F1 in the U.S. but also revitalizing the sport itself, <a href="https://www.cnbc.com/2024/04/30/f1s-fanbase-is-shifting-and-the-netflix-effect-is-only-part-of-that.html">reported</a> CNBC.
However, the show&#8217;s influence extends beyond the U.S. A Nielsen <a href="https://www.nielsen.com/insights/2022/driven-to-watch-how-a-sports-docuseries-drove-u-s-fans-to-formula-1/">analysis</a> revealed that &#8220;Drive to Survive&#8221; only added around 360,000 new viewers to the Miami Grand Prix in 2021, a relatively small increase. The show&#8217;s true impact, it seems, lies in creating F1 fans out of the 71 million Americans who don&#8217;t watch the races.
"There isn't just one way to be an F1 fan anymore," Toni Cowan-Brown, an F1 commentator and content creator, said according to the report. "Drive-to-Survive sparked this interest in F1 during lockdown, which people then took online, creating this community of content creators who were able to show people a totally new side of the sport," she said. 
Today, F1 fans are estimated to be around 40% female, a significant increase from the mere 8% in 2017. Additionally, the fan base is now much more culturally diverse. 
Zak Brown, McLaren CEO, attributed this shift to platforms like Netflix, which have expanded the audience to include more females, younger individuals, and North Americans. Brown believes that this trend is just the beginning.
Content creators have played a crucial role in engaging this new fanbase. Influencers and creative agencies have been instrumental in showcasing the human stories and lifestyle of motorsport, making F1 more accessible and relatable to a wider audience, according to the report.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38478293/shiba-inus-burn-rate-soars-cathie-wood-believes-ethereum-could-catch-up-to-bitcoin-and-mor?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu&#8217;s Burn Rate Soars, Cathie Wood Believes Ethereum Could Catch Up To Bitcoin And More: Top Crypto</a>
Why It Matters: The success of &#8220;Drive to Survive&#8221; is particularly noteworthy given the recent <a href="https://www.benzinga.com/general/entertainment/24/04/38358777/exclusive-netflix-users-ready-to-cancel-memberships-if-prices-are-raised">price hike concerns</a> among Netflix users. Despite these concerns, the streaming giant has continued to attract new subscribers, with a <a href="https://www.benzinga.com/24/04/38363616/netflix-shatters-earnings-expectations-with-surprising-revenue-reveal-and-soaring-subscriber-surge-b">significant increase</a> in subscriber numbers in the first quarter of 2024.
Analysts believe that Netflix&#8217;s strong performance could lead to a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38433366/netflix-could-monetize-40m-borrowers-by-end-of-2024-analysts-see-over-25-upside">monetization of 40 million borrowers</a> by the end of 2024, indicating a potential for over 25% upside in the stock. This suggests that Netflix&#8217;s original content, such as &#8220;Drive to Survive,&#8221; continues to be a significant driver of the company&#8217;s growth and success.
The changing demographics and engagement patterns of F1 fans also have implications for the sport&#8217;s future. As F1 continues to expand into new territories, such as China, its social media strategy will play a crucial role in engaging and retaining these new audiences.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38476692/as-bitcoin-plunges-whale-makes-waves-with-77-67m-deposit-into-kraken?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">As Bitcoin Plunges, Whale Makes Waves With $77.67M Deposit Into Kraken</a>
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
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The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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The Netflix Effect: How 'Drive To Survive' Is Diversifying F1's Fanbase

The pandemic-induced surge in yacht sales is now showing signs of a reversal, with many buyers from the COVID-19 era now putting their vessels up for sale. This trend has led to a slight drop in prices, signaling a shift in the yacht market.
What Happened: The pandemic saw a significant increase in yacht sales, with many individuals seeking alternative travel options. However, as the world starts to return to normal, some of these buyers are now looking to sell their yachts and explore other travel options, <a href="https://www.cnbc.com/2024/04/30/a-rise-in-pre-owned-yachts-for-sale-some-covid-purchasers-are-selling.html">CNBC</a> reported.
Richard Allen, COO of Simpson Marine, noted a &#8220;massive spike&#8221; in yacht sales during the pandemic. However, he observed that many of these buyers are now looking to sell their vessels and explore other travel options.
Paolo Casani, CEO of Camper &amp; Nicholsons, added that the industry saw a doubling of yacht sales in 2021 compared to 2019. However, this has led to an increase in brokerage activity, with many of these yachts now being put up for sale.
"The industry is going back to 2019," Casani said. "And we have to distinguish between brokerage and new builds, because the demand for new builds is still quite high."
"Prices are still quite high," he added. "There is still a gap between the demand and the offer &#8230; but we do believe that there will be still a reduction in the course of 2024."
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38478483/crypto-analyst-predicts-this-altcoin-will-explode-260-in-2024-and-its-not-dogecoin-or-shib?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Crypto Analyst Predicts This Altcoin Will Explode 260% In 2024, And It&#8217;s Not Dogecoin Or Shiba Inu</a>
Despite the drop in sales, the demand for new builds remains high, particularly in Asia, where some buyers are even upgrading to larger vessels.
Why It Matters: The surge in yacht sales during the pandemic is part of a broader trend of increased <a href="https://www.benzinga.com/startups/24/03/37583761/zuckerberg-trying-to-catch-up-to-bezoss-yacht-game-meta-platforms-ceo-spends-330-million-on-yachts">spending on luxury items</a>. Tech billionaires like Mark Zuckerberg and Jeff Bezos have been making headlines with their extravagant yacht purchases.
However, the yacht market is not just about ownership. The rise of <a href="https://www.benzinga.com/news/24/04/38104334/workplace-on-waves-richard-branson-launches-remote-work-boat-with-virgin-voyages-extended-sea-workat">remote work</a> has also led to new opportunities in the industry. Virgin Voyages, owned by Richard Branson, recently introduced a month-long cruise package specifically designed for remote workers, combining work and travel in an unprecedented way.
Despite the challenges, the yachting industry remains a significant contributor to the global economy. According to Simpson Marine, the global marine leisure market is expected to reach $46.5 billion in 2027, with significant potential for job creation and tourism revenue, according to the report.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38476449/voters-reveal-whether-they-feel-donald-trump-is-receiving-fair-treatment-in-court-in-latest-poll?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Voters Reveal Whether They Feel Donald Trump Is Receiving Fair Treatment In Court In Latest Poll — What That Means For Former President&#8217;s Election Chances</a>
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
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The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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Travel

Yacht Market Sees A Shift As Pandemic-Era Buyers Sell, Prices Dip: 'The Industry Is Going Back To 2019'

HSBC Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSBC#NYSE">HSBC</a>) reported quarterly earnings of $1.70 per share. This is a 34.62 percent decrease over earnings of $2.60 per share from the same period last year. The company reported $20.75 billion in sales this quarter. This is a 2.88 percent increase over sales of $20.17 billion the same period last year.

HSBC Holdings Q1 EPS $1.70 Down From $2.60 YoY, Sales $20.75B Up From $20.17B YoY

Stellantis Reports&nbsp;Q1&nbsp;2024 Net Revenues and Shipments
Reflecting New Product Transition
<ul>
<li>Net revenues of &euro;41.7 billion, down&nbsp;12%&nbsp;compared to&nbsp;Q1&nbsp;2023 primarily due to volume, mix and foreign exchange headwinds, partly offset by firm net pricing</li>
<li>Consolidated shipments(1)&nbsp;of 1,335 thousand units, down&nbsp;10%, reflecting production actions and inventory management to prepare for new product wave in H2 2024 compared with strong shipments in&nbsp;Q1&nbsp;2023 to build inventory following a prolonged period of supply constraints</li>
<li>Total new vehicle inventory of 1,393 thousand units (Company inventory of 423 thousand units) at March 31, 2024, reflecting improving level and structure versus December 2023</li>
<li>Global BEV and LEV sales increased by&nbsp;8%&nbsp;and&nbsp;13%, respectively, versus&nbsp;Q1&nbsp;2023; ongoing global focus with new BEVs launching throughout 2024</li>
<li>Ordinary dividend of &euro;1.55 per share (16%&nbsp;increase versus prior year) approved at AGM to be paid to shareholders on May 3, 2024</li>
<li>&euro;3.0 billion share buyback on track for 2024 completion</li>
</ul>

STLA

Stellantis Reported Q1 2024 Net Revenues Of €41.7B Down From €47.2B YoY; Consolidated Shipments Of 1,335 Thousand Units Down 10% YoY

Buenaventura Mining Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BVN#NYSE">BVN</a>) reported quarterly earnings of $0.24 per share. This is a 4 percent decrease over earnings of $0.25 per share from the same period last year. The company reported quarterly sales of $246.800 million which beat the analyst consensus estimate of $239.658 million by 2.98 percent. This is a 33.05 percent increase over sales of $185.500 million the same period last year.

Earnings Beats

Buenaventura Mining Co Q1 2024 GAAP EPS $0.24 Down From $0.25 YoY, Sales $246.800M Beat $239.658M Estimate

Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares rallied over 15% on Monday following news that CEO Elon Musk has <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38479312/watershed-moment-says-tesla-analyst-as-elon-musk-makes-surprise-china-visit-to-repo">clinched a deal with the Chinese government to roll out full self-driving in the country</a> and transfer data from the country. CNBC Mad Money host Jim Cramer, though not a big fan of the company, lauded Musk&#8217;s move.
What Happened: &#8220;Elon Musk pulled a rabbit out of the hat. He bagged a terrific one this weekend when he got permission to sell a subscription-based full self-driving for the Tesla giant,&#8221; <a href="https://www.youtube.com/watch?v=3LB_Hr4Vevo&amp;list=PLVbP054jv0KpV2leJ9HHIMqZEkCPX-iPV&amp;index=4">said </a>Cramer on his Mad Money show.
This, according to Cramer, gives a whole new revenue stream for Tesla and can go a long way toward restoring the price momentum after the vicious price-cutting in China.
&#8220;He made a surprise trip to China and nailed down a deal. This is unbelievable,&#8221; the stock picker said. &#8220;Also [a] perfect example of a CEO redefining narrative.&#8221; 
Cramer also expressed surprise at the ease with which Musk got the deal done with China. 
&#8220;He got on a plane and made a deal. I can&#8217;t think of anything similar in the annals of American business,&#8221; he said. Looking back into history, the CNBC host said this was similar to what Armand Hammer did with Russia.
In 1973, Hammer signed a 20-year agreement with the then Soviet Union, which allowed Occidental Petroleum and Tower International — two firms he controlled, to export phosphate, which Occidental mined in northern Florida.
Cramer said, &#8220;At that time, there were U.S. troops in Russia fighting against the communists.&#8221; 
&#8220;Of course, I don&#8217;t put Xi [Jinping] in the same category but Hammer is the only other executive I can remember who could make a surprise trip to a hostile country and come back with a deal.&#8221;
The stock picker also said no one else could have pulled this off, and that&#8217;s the reason why shareholders love Musk. The billionaire made fools of &#8220;last week&#8217;s downgrades,&#8221; he said.
Cramer also weighed in on whether the stock move has staying power. &#8220;Plenty of people shorted the stock. The stock can keep running until all the shorts are crushed,&#8221; he said.
Financial Data Analytics firm S3 Partners&#8217; Ihor Dusaniwsky said Tesla is the third-largest U.S. short behind Nvidia&nbsp;and Microsoft, with $18.53 billion, or 3.97% of its publicly available shares, Reuters reported. Monday&#8217;s rally cost short-sellers $2.93 billion, bringing April&#8217;s cumulative losses to $2.11 billion. For the year, the shorts are still in black with a profit of $4.1 billion. 
See Also: <a href="https://www.benzinga.com/money/everything-you-need-to-know-about-tesla-stock">Everything You Need to Know About Tesla Stock</a>
Why It&#8217;s Important: Tesla shares have been on a downslide since the middle of 2023 as price cuts announced to lift sagging volume did not produce the desired effect. The company was squeezed by competition in China, one of its key markets, while demand faltered elsewhere.
After reporting a third straight quarter of double miss, the company clarified that it would push forward the launch of next-gen EVs and also lay an accent on its FSD, which it now promotes as FSD (Supervised). 
Bullish analyst Daniel Ives said he sees the <a href="https://www.benzinga.com/markets/equities/24/04/38485399/tesla-skyrockets-about-10-in-premarket-whats-fueling-the-dramatic-rally">China FSD approval as a &#8220;watershed moment&#8221; for the Tesla</a> story.
Tesla ended Monday&#8217;s session up 15.31% at $194.05, 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/24/04/38500447/teslas-robotaxi-plans-potential-threat-or-future-partner-for-uber">Tesla&#8217;s Robotaxi Plans: Potential Threat Or Future Partner For Uber?</a>
Image made via photos on Shutterstock

Equities

TSLA

Jim Cramer Says Tesla Stock Will 'Keep Running Until All Shorts Are Crushed,' Praises Elon Musk's China FSD Deal As 'Perfect Example Of Redefining Narrative'

Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has committed to a $1.7 billion investment in Indonesia&#8217;s cloud services and artificial intelligence (AI) over the next four years.
What Happened: Microsoft CEO Satya Nadella announced the investment during his visit to Jakarta, Reuters reported on Tuesday. The funds will be utilized to expand cloud services, AI, and build data centres in the country. This announcement comes as the first stop of Nadella&#8217;s Southeast Asian tour aimed at promoting Microsoft&#8217;s generative AI technology.
Nadella had discussions with outgoing President Joko Widodo and his cabinet ministers about joint AI research and talent development. Widodo proposed that Microsoft could set up its data centers in Bali or the under-construction capital city, Nusantara.
&#8220;We&#8217;re going to lead this wave in terms of AI infrastructure that&#8217;s needed,&#8221; Nadella mentioned.
Microsoft aims to train 2.5 million people in Southeast Asia in AI use by 2025, including 840,000 in Indonesia.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38459459/put-it-in-the-louvre-tech-bull-praises-google-parent-alphabets-major-breakout-quart?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Put It In The Louvre:&#8217; Tech Bull Praises Google Parent Alphabet&#8217;s &#8216;Major Breakout Quarter,&#8217; Says It Is &#8216;</a>
Why It Matters: Nadella&#8217;s <a href="https://www.benzinga.com/markets/asia/24/04/38454468/after-tim-cook-microsofts-satya-nadella-plans-southeast-asia-tour-targets-ai-discussions">visit to Southeast Asia</a> was primarily focused on AI-related discussions with government officials and developers. This investment is a part of Microsoft&#8217;s global efforts to support AI development, following<a href="https://www.benzinga.com/government/24/04/38169797/microsoft-announces-major-ai-expansion-and-cybersecurity-boost-in-japan"> recent investments in Japan</a> <a href="https://www.benzinga.com/news/24/04/38264914/microsoft-invests-1-5b-in-uaes-top-ai-firm-g42-secures-board-seat">and the UAE</a>.
Tech giants like Microsoft, Meta Platforms Inc, and Google parent Alphabet Inc, are <a href="https://www.benzinga.com/news/24/04/38498886/microsoft-meta-and-alphabet-ramp-up-ai-investments-spend-over-32b-in-q1">heavily investing in AI infrastructure in 2024.</a> This investment trend indicates a shift from AI chatbots to the less glamorous, yet critical, "AI plumbing."
Apple CEO Tim Cook also visited Indonesia two weeks ago where he expressed interest in building a manufacturing facility.
Price Action: As per <a href="https://pro.benzinga.com">Benzinga Pro</a>, Microsoft shares closed at $402.25 on Monday, with an after-hours price of $402.05. The company&#8217;s 52-week high is $430.82 and its 52-week low is $303.31.
Read Next: <a href="https://www.benzinga.com/news/24/04/38480776/mark-zuckerberg-led-metas-set-it-and-forget-it-ai-tools-misfire-wasting-ad-budgets-and-driving-away?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg-Led Meta&#8217;s &#8216;Set It And Forget It&#8217; AI Tools Misfire, Wasting Ad Budgets And Driving Away Businesses: Report</a>
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General

MSFT

Microsoft Pledges $1.7B Investment In Emerging Asian Powerhouse As Tech Giants Bet Big On AI

The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, while the index remained in the &#8220;Fear&#8221; zone on Monday.
U.S. stocks settled higher on Monday, driven by surge in Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares. Shares of the EV maker jumped more than 15% on Monday on reports the company will partner with Baidu for mapping and navigation for Full Self-Driving in China.
Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) shares rose 2.5% on Monday after Bernstein upgraded the stock from Market Perform to Outperform. ON Semiconductor Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) reported better-than-expected first-quarter results.
On the economic data front, the Dallas Fed Manufacturing index fell slightly to -14.5 in April from March's reading of -14.4. The Federal Reserve is scheduled to announce its latest interest rate decision on Wednesday.
Most sectors on the S&amp;P 500 closed on a positive note, with utilities, real estate and consumer discretionary stocks recording the biggest gains on Monday. However, communication services and financial stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 146 points to 38,386.09 on Monday. The S&amp;P 500 added 0.32% at 5,116.17, while the Nasdaq Composite jumped 0.35% at 15,983.08 during Friday's session.
Investors are awaiting earnings results from Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), Starbucks Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) and The Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) today.
At a current reading of 43.5, the index remained in the &#8220;Fear&#8221; zone on Monday, versus a prior reading of 42.5.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: <a href="https://www.benzinga.com/news/24/04/38489087/jim-cramer-likes-palantir-recommends-pioneer-natural-resources-i-want-you-to-ka-ching-ka-ching">Jim Cramer Likes Palantir, Recommends Pioneer Natural Resources: &#8216;I Want You To Ka-Ching, Ka-Ching&#8217;</a>

Pre-Market Outlook

AAPL

AMZN

SBUX

Investor Sentiment Improves Further, Dow Jumps Over 100 Points

With U.S. stock futures trading lower this morning on Tuesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects The Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) to report quarterly earnings at 65 cents per share on revenue of $10.29 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a> Coca-Cola shares fell 0.2% to $61.95 in after-hours trading.</li>
<li>Yum China Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>) posted upbeat earnings for its first quarter, while sales missed expectations. Yum China shares fell 3.4% to $38.70 in the after-hours trading session.</li>
<li>Analysts are expecting McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) to post quarterly earnings at $2.54 per share on revenue of $5.75 billion. The company will release earnings before the markets open. McDonald&#8217;s shares rose 0.2% to $274.00 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Sensata Technologies Holding plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ST#NYSE">ST</a>) reported stronger-than-expected results for its first quarter on Monday. The company said Jeff Cote will retire as CEO and President. Sensata said it sees second-quarter adjusted earnings of 89 cents to 95 cents per share on revenue of $1.025 billion to $1.055 billion. Sensata shares jumped 17.6% to $42.05 in the after-hours trading session.</li>
<li>Analysts expect Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) to post quarterly earnings at 77 cents per share on revenue of $133.1 billion after the closing bell. Amazon shares rose 0.7% to $182.26 in after-hours trading.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/04/38509641/mcdonalds-likely-to-report-higher-q1-earnings-here-are-the-recent-forecast-changes-from-wall-street">McDonald&#8217;s Likely To Report Higher Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street&#8217;s Most Accurate Analysts</a>

YUMC

Coca-Cola, Amazon And 3 Stocks To Watch Heading Into Tuesday

Steve Wozniak, the co-founder of&nbsp;Apple Inc.&nbsp;on Monday shared his unique fascination with a mathematical object, known as the Klein bottle.
What Happened: Wozniak took to X, formerly Twitter, and shared a photo of himself holding a Klein bottle from Acme, saying that he has also bought a small Klein bottle earring for his wife Janet Hill. 
&#8220;I bought a Klein bottle from Acme Klein Bottles. Many of the best things in my life, that got me here, aren&#8217;t super functional but they are cool,&#8221; he said, adding, &#8220;I also bought a small Klein bottle earring for Janet.&#8221;
<a href="https://twitter.com/stevewoz/status/1785041358035775533/photo/1"></a>See Also:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/04/38023363/happy-48-apple-if-you-invested-1000-in-apple-when-it-went-public-heres-how-much-youd-have">Happy 48, Apple: If You Invested $1000 In Apple When It Went Public, Here&#8217;s How Much You&#8217;d Have</a>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I bought a Klein bottle from Acme Klein Bottles. Many of the best things in my life, that got me here, aren&#39;t super functional but they are cool. <a href="https://t.co/ifImRlYXxi">https://t.co/ifImRlYXxi</a>. I also bought a small Klein bottle earring for Janet. <a href="https://t.co/1lAM350tPY">pic.twitter.com/1lAM350tPY</a>
&mdash; Steve Wozniak (@stevewoz) <a href="https://twitter.com/stevewoz/status/1785041358035775533?ref_src=twsrc%5Etfw">April 29, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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.
What Is Klein Bottle: The Klein bottle is a significant concept in the field of topology, a branch of mathematics that studies the properties of space that are preserved under continuous transformations. The Klein bottle, named after the German mathematician&nbsp;Felix Klein, is a non-orientable surface that cannot be constructed in three-dimensional Euclidean space. 
To put it simply, if a a tiny ant crawls on the surface of a Klein bottle, it could go all around and end up back at the starting point, without ever encountering an inside or an outside. It&#8217;s a bit mind-bending, like a shape that plays tricks on your perception.
Why It Matters: In the comment section, some people were happy to see Wozniak in good health. Last year in November, the Apple co-founder was reportedly <a href="https://www.benzinga.com/news/23/11/35696458/apple-co-founder-steve-wozniak-hospitalized-after-fainting-at-mexico-business-event-what-we-know-so">hospitalized in Mexico City</a>. As per the reports, he complained about &#8220;feeling strange&#8221; and fainted, after which he was taken to a local hospital.
In 1976, Wozniak, alongside Steve Jobs and Ronald Wayne, established Apple. He played a crucial role in designing the company&#8217;s initial creations, including the Apple I and Apple II computers, and also contributed to the development of the Macintosh.
He frequently hailed as the innovator within the Apple duo, contrasting with <a href="https://www.benzinga.com/news/24/03/37903576/bill-gates-reveals-steve-jobs-secret-to-captivating-presentations-he-was-a-natural-although-he-would">Jobs&#8217; reputation for marketing</a> prowess. Wozniak departed from the company in 1985, expressing that it constrained his potential and caused considerable frustration.
Photo by Anton Gvozdikov on 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>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/04/38480983/giant-leap-for-apple-new-leak-of-iphone-16-lineup-confirms-recent-rumors-about-screen-sizes-and-came?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Giant Leap For Apple? New Leak Of iPhone 16 Lineup Confirms Recent Rumors About Screen Sizes And Camera Bump</a>
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.

Apple Co-Founder Steve Wozniak Reveals His Unique Obsession With This Weird Object: 'Many Of The Best Things… Aren't Super Functional But They Are Cool'

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Latest News for Goldman Sachs Access High Yield Corporate Bond ETF (ARCA:GHYB)

Friday, September 15, 2017

Friday, September 08, 2017