Latest News for GameOn Enter Tech Stock (OTC:GMETF)

GameOn Entertainment Technologies Inc is a video game ventures firm focusing on project investments in high-value e-gaming projects featuring recognized intellectual properties. It has generated revenues from gaming projects such as Pacific Rim: Breach Wars, Men In Black, and Hello Kitty.

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The Perks Of Being A Shareholder? This Company Looks To Help Brands Build Loyalty In A Whole New Way

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

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Polygon, The Times Group And Techstars Are Backing This Latest NFT-Gamification Project

GAMEON ENTMT TECHNOLOGIES by GameOn Entertainment Technologies Inc.

GameOn Entertainment Technologies Inc

Serve Robotics Inc.&nbsp;(the &quot;Company&quot; or &quot;Serve&quot;), a leading autonomous sidewalk delivery company, today announced the pricing of its underwritten public offering of 10,000,000 shares of common stock at a price to the public of&nbsp;$4.00&nbsp;per share, for aggregate gross proceeds of&nbsp;$40 million, prior to deducting underwriting discounts and offering expenses. The offering includes the participation of one of Serve&#39;s largest stockholders and strategic partners,&nbsp;Postmates, LLC, a wholly-owned subsidiary of&nbsp;Uber Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>).
Serve also announced that, in connection with the offering, its common stock has been approved for listing and will begin trading on the Nasdaq Capital Market under the symbol &quot;SERV&quot; on&nbsp;April 18, 2024. Serve was previously listed on the OTCQB&reg; Venture Market under the ticker symbol &quot;SBOT&quot; and will no longer trade on that market.&quot;

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IPOs

SBOT

UBER

Reported Earlier, Serve Robotics Prices $40M Public Offering Of 10M Common Shares At $4/Share And Up Lists To Nasdaq Capital Market

Cryptocurrency analyst Ali Martinez has issued a warning about the critical $61,000 level for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).
What Happened: Martinez took to X on Thursday to highlight the significance of the $61,000 level for Bitcoin. According to Martinez, a breach of this level could trigger a correction to $56,200. 
However, &#8220;if #Bitcoin can rebound, we could see an upswing to $66,500. The first sign of a rebound will be a sustained 4-hour candlestick close above $62,300. Until then, we brace for impact!&#8221; said Martinez.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">$61,000 is a very important level for <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>! If it breaks, it will trigger a correction to $56,200. But if <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> can rebound, we could see an upswing to $66,500. The first sign of a rebound will be a sustained 4-hour candlestick close above $62,300. Until then, we brace for… <a href="https://t.co/KOg4HuZOJ2">pic.twitter.com/KOg4HuZOJ2</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1780837915309769194?ref_src=twsrc%5Etfw">April 18, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38238919/crypto-markets-tumble-following-irans-drone-attack-against-israel-investor-warns-of-contin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Crypto Markets Tumble Following Iran&#8217;s Drone Attack Against Israel, Investor Warns Of Continued Selloff</a>
Why It Matters: The warning from Martinez comes at a time when the cryptocurrency market is experiencing significant volatility. A day before, a <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38300304/why-the-bitcoin-dump-prompted-10x-research-to-sell-everything">crypto research firm expressed concerns</a> about a possible major price correction for risk assets, including cryptocurrencies, due to inflation.
Another analyst, IncomeSharks, <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38306482/bitcoin-could-potentially-dip-below-60k-before-hate-halving-rally-says-crypto-analyst">predicted a significant drop</a> in Bitcoin&#8217;s price below the $60,000 mark, which could lead to panic selling. This was seen as a necessary step to clear out remaining holders relying on the support to hold.
Additionally, Martinez previously warned about the potential for <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38305808/bitcoin-dropping-to-this-level-could-trigger-over-15b-in-liquidations-on-binance-wa">massive liquidations</a> on Binance if Bitcoin&#8217;s price fell to $50,500. This further highlights the current market uncertainty.
Despite the current market challenges, Bloomberg analysts have projected that Hong Kong&#8217;s newly approved Bitcoin and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) ETFs are set to <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38299618/hong-kongs-bitcoin-and-ethereum-etfs-poised-to-reach-1b-in-assets-bloomberg-analyst-predic">accumulate $1 billion in assets</a> within the next two years, indicating a positive long-term outlook for the industry.
Price Action: Bitcoin is currently trading at $61,188, showing a 0.13% dip in the last 24 hours and a notable 38.52% gain year to date, according to data <a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38300233/why-are-dogecoin-and-shiba-inu-silent-today?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Why Are Dogecoin And Shiba Inu Silent Today?</a>
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Analyst Ratings

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$ETH

Bitcoin Could Correct To $56K If It Breaches This Support Level, Warns Analyst: 'First Sign Of A Rebound Will Be...'

The JDA will guide JERA and CF Industries&#39; evaluation of a joint venture agreement to build an approximately 1.4 million metric ton capacity low-carbon ammonia plant. JERA is contemplating a&nbsp;48%&nbsp;ownership stake in the project as well as an agreement to procure more than 500,000 metric tons of low-carbon ammonia annually to meet demand for low-carbon fuels in Japan. JERA and CF Industries previously had signed a memorandum of understanding to explore a potential joint project development and sales and purchase of low-carbon ammonia. JERA and CF Industries aim to reach a final investment decision on the proposed project within a year for commencing production in 2028.

Reported Earlier, CF Industries And JERA Ink Joint Development Agreement To Develop Greenfield Low-Carbon Ammonia Production Capacity In The United States

Planned investment will grow Oracle Cloud Infrastructure&#39;s footprint in&nbsp;Japan
Expanded local support and operations team will help customers and partners address digital sovereignty requirements

ORCL

Reported Earlier, Oracle Announced Plans To Invest More Than $8B In Cloud Computing And AI In Japan

All of the shares in the offering will be sold by Intra-Cellular Therapies, with gross proceeds to Intra-Cellular Therapies expected to be $500.0 million before deducting underwriting discounts and commissions and offering expenses.

ITCI

Reported Earlier, Intra-Cellular Therapies Prices Public Offering Of 6,849,316 Common Shares At $73/Share

Emergency services across various U.S. states were disrupted late Wednesday, as 911 systems experienced outages, leaving many without access to critical emergency assistance.
What Happened: Several U.S. states, including South Dakota and parts of Nevada, Texas, and Nebraska, faced a 911 emergency services outage. The cause of the disruption remains unknown, Reuters reported. 
Officials in South Dakota and Las Vegas confirmed that 911 services were restored, but did not provide details on what caused the failure of the critical emergency infrastructure. The outage affected the entire state of South Dakota and portions of the other states mentioned.
Attempts to get comments from the Department of Transportation&#8217;s Office of Emergency Medical Services, the Federal Communications Commission (FCC), and the Federal Emergency Management Agency (FEMA) were unsuccessful.
The Department of Homeland Security has previously warned about the heightened risk of cyber attacks on digital 911 services. Past cyberattacks have disrupted 911 systems, including a significant incident in 2017 that affected centers in over a dozen states.
See Also: <a href="https://www.benzinga.com/news/24/04/38261938/marjorie-taylor-greene-attempts-to-defend-trump-in-hush-money-trial-ends-up-bungling-it-up-entirely?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Marjorie Taylor Greene Attempts To Defend Trump In Hush Money Trial, Ends Up Bungling It Up Entirely</a>
Local authorities, including the South Dakota Department of Public Safety, Las Vegas Metropolitan Police Department, and Douglas County, Nebraska, all reported disruptions. In Las Vegas, police assured that individuals who called during the outage received callbacks and assistance.
In Texas, the Del Rio Police Department alerted via Facebook that their 911 services were down. South Dakota&#8217;s Department of Public Safety stated that they were working to resolve the issue, urging the public not to call 911 for testing purposes.
Why It Matters: The recent 911 outages come on the heels of a <a href="https://www.benzinga.com/news/24/02/37279727/at-t-says-outage-was-not-due-to-a-cyber-attack-confirms-service-has-been-fully-restored">nationwide service disruption</a> experienced by AT&amp;T Inc. customers. In February, AT&amp;T confirmed that its network was back online after a full day without service, impacting calls, texts, and data usage. 
The company clarified that<a href="https://www.benzinga.com/news/24/02/37279727/at-t-says-outage-was-not-due-to-a-cyber-attack-confirms-service-has-been-fully-restored"> the outage was due to an internal error and not a cyber attack.</a>
Read Next: <a href="https://www.benzinga.com/news/24/04/38285714/no-more-inventory-discounts-on-tesla-cars-as-ceo-elon-musk-says-sales-system-has-turned-complex-and?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">No More Inventory Discounts On Tesla Cars As CEO Elon Musk Says Sales System Has Turned &#8216;Complex And Inefficient&#8217;</a>
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Health Care

General

Critical Emergency Services Disrupted: 911 Outages Cause Chaos Across US States

Southwest Gas Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SWX#NYSE">SWX</a>) (&quot;Southwest Gas&quot;) and Centuri Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTRI#NYSE">CTRI</a>) (&quot;Centuri&quot;), a wholly owned subsidiary of Southwest Gas, today announced the pricing of Centuri&#39;s initial public offering (the &quot;IPO&quot;) of 12,400,000 shares of Centuri&#39;s common stock at an initial public offering price of&nbsp;$21.00&nbsp;per share. In addition, Centuri has granted the underwriters a 30-day option to purchase up to an additional 1,860,000 shares of its common stock to cover over-allotments, if any. Centuri&#39;s common stock has been approved for listing on the New York Stock Exchange (&quot;NYSE&quot;) under the symbol &quot;CTRI&quot; and is expected to begin trading on&nbsp;April 18, 2024. The IPO is expected to close on&nbsp;April 22, 2024, subject to the satisfaction or waiver of customary closing conditions
In addition to the shares of Centuri&#39;s common stock sold in the IPO, Centuri announced that Icahn Partners and Icahn Partners Master Fund LP, investment entities affiliated with&nbsp;Carl C. Icahn, will purchase 2,591,929 shares of Centuri&#39;s common stock in a concurrent private placement at a price per share equal to the IPO price, for gross proceeds of approximately&nbsp;$54.4 million.&nbsp;

CTRI

Reported Earlier, Southwest Gas And Centuri Prices Centuri Initial Public Offering Of 12.4M Centuri Common Shares At $21/Share

Rep. Marjorie Taylor Greene (R-Ga.) advocates space laser funding for U.S. border security and suggests &#8216;conscription&#8217; in the Ukrainian military for backers of the Ukraine supplemental bill.
What Happened: Greene&#8217;s X post was shared on Thursday, where she also lauded Israel&#8217;s defense systems and suggested that the U.S. should adopt a similar approach to secure its borders.
&#8220;Israel has some of the best-unmanned defense systems in the world. I've previously voted to fund space lasers for Israel's defense. America needs to take our national security seriously and deserves the same type of defense for our border that Israel has and proudly uses,&#8221; she wrote.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Israel has some of the best unmanned defense systems in the world. I've previously voted to fund space lasers for Israel's defense. America needs to take our national security seriously and deserves the same type of defense for our border that Israel has and proudly uses. <a href="https://t.co/oDeDqTXvQQ">pic.twitter.com/oDeDqTXvQQ</a>
&mdash; Rep. Marjorie Taylor Greene&#x1f1fa;&#x1f1f8; (@RepMTG) <a href="https://twitter.com/RepMTG/status/1780767303732199917?ref_src=twsrc%5Etfw">April 18, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/24/04/38286236/once-trumper-scaramucci-warns-re-electing-ex-president-would-result-in-american-fascism-and-be-very?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Once-Trumper&#8217; Scaramucci Warns Re-Electing Ex-President Would Result In &#8216;American Fascism&#8217; And Be &#8216;Very Bad&#8217; For Business: &#8216;He Wants To Be North American Autocrat&#8217;</a>
&#8220;I mean if you want to fund the war, why don't you go fight in it,&#8221; said Greene quoting a post of Juliegrace Brufke, who is a congressional reporter for Axios.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I mean if you want to fund the war, why don't you go fight in it. Show your support for Ukraine. <a href="https://t.co/J7JIvJgji5">https://t.co/J7JIvJgji5</a>
&mdash; Rep. Marjorie Taylor Greene&#x1f1fa;&#x1f1f8; (@RepMTG) <a href="https://twitter.com/RepMTG/status/1780753558943494411?ref_src=twsrc%5Etfw">April 18, 2024</a></blockquote>
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Greene&#8217;s proposal comes amid the ongoing conflict between Russia and Ukraine, with the U.S. providing support to Ukraine through the Ukraine supplemental bill.
Her tweet has sparked a wave of reactions on social media, with many criticizing the amendment as a drastic and unnecessary measure.
Why It Matters: Greene&#8217;s amendment is the latest in a series of controversial statements and actions. Just last week, she was criticized by Rep. Jared Moskowitz (D-Fla.) for her <a href="https://www.benzinga.com/news/24/04/38305573/marjorie-taylor-greene-confronted-by-moskowitz-over-nazis-in-ukraine-claims-disgusting-behavior">unfounded claims about Nazism</a> in Ukraine. This narrative, often echoed by Russian President Vladimir Putin, has sparked significant controversy.
Greene&#8217;s amendment also follows her <a href="https://www.benzinga.com/news/24/04/38089875/marjorie-taylor-greene-calls-house-speaker-a-damn-fool-over-ukraine-funding-do-they-have-mike-johnso">recent criticism</a> of House Speaker Mike Johnson (R-La.) over Ukraine funding. Despite efforts by former President Donald Trump to quell the discord, Greene has <a href="https://www.benzinga.com/news/24/04/38237873/marjorie-taylor-greene-isnt-backing-down-on-criticism-of-house-speaker-despite-donald-trumps-efforts">remained steadfast</a> in her opposition to Johnson&#8217;s approach.
Greene&#8217;s actions have also drawn <a href="https://www.benzinga.com/news/23/11/35584765/marjorie-taylor-greene-clashes-with-chip-roy-over-censure-vote-disagreement-go-chase-so-called-jewis">attention in the past</a>, such as her clash with Rep. Chip Roy (R-Texas) over a censure vote against Rep. Rashida Tlaib (D-Mich.). 
Read Next: <a href="https://www.benzinga.com/news/24/04/38286407/gop-mega-donors-son-throws-support-behind-incumbent-president-in-biden-vs-trump-battle?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">GOP Mega Donor&#8217;s Son Throws Support Behind Incumbent President In Biden Vs. Trump Battle</a>
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 Kaustubh Bagalkote</a> 
 
 
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Politics

Marjorie Taylor Greene Calls For Space Laser Funding For US Border Security, Proposes 'Conscription' For Senators Supporting Ukraine Supplemental Bill

CSCO

Cisco Launches Hypershield, Elevating Security For AI-Driven Data Centers And Cloud Environments

Under the Digital and IT Professional Services (DIPS) Framework, Jacobs and its specialist suppliers were appointed to provide maintenance, design and support of secure system architecture, cryptographic systems and security, including testing and evaluation of technical and non-technical security features. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The DIPS framework, procured with assistance from the Crown Commercial Service (CCS), has a potential value of&nbsp;$1.52 billion&nbsp;(&pound;1.2 billion) and runs until&nbsp;November 2027, delivering a range of digital and IT specialist professional services to&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4143851-1&amp;h=675578941&amp;u=https%3A%2F%2Fwww.gov.uk%2Fgovernment%2Fgroups%2Fdefence-digital&amp;a=Defence+Digital" target="_blank">Defence Digital</a>.

Jacobs Secures Position As Prime Cyber Security Supplier To UK Ministry Of Defence

Lazard And Elaia Partners Ink Strategic Partnership To Launch Lazard Elaia Capital, Spearheading Tech Investments In Europe

IND to be filed with the FDA in the coming weeks
PARIS, FRANCE and CAMBRIDGE, MA / ACCESSWIRE /&nbsp;April 18, 2024 /&nbsp;Biophytis SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPTS#NASDAQ">BPTS</a>)(PARIS:<a class="ticker" href="https://www.benzinga.com/stock/ALBPS#PARIS">ALBPS</a>), (&quot;Biophytis&quot; or the &quot;Company&quot;), a clinical-stage biotechnology company specialized in the development of therapeutics for age-related diseases, today announces the formation of a new Scientific Advisory Board to support the advancement of its phase 2 OBA clinical study in obesity.
This Scientific Advisory Board will be composed of a few worldwide medical experts in the field of obesity, including Professor Dennis Villareal from the USA and Professor Francisco Guarner from Spain. The OBA SAB will guide the company to develop BIO101 (20-hydroxyecdysone) in obesity, in combination with GLP1-RA, and will actively work towards the finalization of the OBA Phase 2 clinical study design. Biophytis plans to file for an Investigational New Drug (IND) application to start the OBA Phase 2 clinical study in the USA with FDA in the coming weeks.

BPTS

PARIS:ALBPS

Biophytis Plans To File IND With FDA For Phase 2 OBA Clinical Study In Obesity, Backed By New Scientific Advisory Board

Offerings

Lithium Americas Prices $275M Underwritten Public Offering Of 55M Common Shares At $5/Share

The CNN Money Fear and Greed index showed further decline in the overall market sentiment, while the index remained in the &quot;Fear&quot; zone on Wednesday.
U.S. stocks closed lower on Wednesday, with the S&amp;P 500 falling for a fourth straight session.
On the economic data front, crude oil inventories in the U.S. climbed by 2.735 million barrels in the week ended April 12, compared to a 5.841 million gain in previous prior week.
U.S. Bancorp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/usb#NYSE">USB</a>) reported upbeat first-quarter FY24 earnings on Wednesday. United Airlines Holdings Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ual#NASDAQ">UAL</a>) shares jumped over 17% on Wednesday after the company reported better-than-expected quarterly results.
Most sectors on the S&amp;P 500 closed on a negative note, with information technology, real estate and consumer discretionary stocks recording the biggest losses on Wednesday. However, utilities and consumer staples stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 45 points to 37,753.31 on Wednesday. The S&amp;P 500 fell 0.58% at 5,022.21, while the Nasdaq Composite dipped 1.15% at 15,683.37 during Wednesday&rsquo;s session.
Investors are awaiting earnings results from Marsh &amp; McLennan Companies, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mmc#NYSE">MMC</a>), D.R. Horton, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dhi#NYSE">DHI</a>) and Netflix, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nflx#NASDAQ">NFLX</a>) today.
At a current reading of 34.4, the index remained in the &quot;Fear&quot; zone on Wednesday, versus a prior reading of 37.6.
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.
&nbsp;
Read Next: <a href="https://www.benzinga.com/news/earnings/24/04/38285336/how-to-earn-500-a-month-from-intel-stock-ahead-of-q1-earnings"> How To Earn $500 A Month From Intel Stock Ahead Of Q1 Earnings</a>

Earnings

Pre-Market Outlook

Trading Ideas

NFLX

Investor Sentiment Decreases Further, S&P 500 Falls For Fourth Straight Session

With U.S. stock futures trading higher this morning on Thursday, some of the stocks that may grab investor focus today are as follows:
Wall Street expects D.R. Horton, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dhi#NYSE">DHI</a>) to report quarterly earnings at $3.06 per share on revenue of $8.27 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. D.R. Horton shares fell 0.5% to $145.00 in after-hours trading.
Synovus Financial Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/snv#NYSE">SNV</a>) posted weaker-than-expected results for its first quarter on Wednesday. Synovus Financial shares fell 2.5% to $35.70 in the after-hours trading session.
Analysts are expecting Netflix, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nflx#NASDAQ">NFLX</a>) to post quarterly earnings at $4.52 per share on revenue of $9.28 billion. The company will release earnings after the markets close. Netflix shares gained 0.2% to $614.99 in after-hours trading.
Check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
Alcoa Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aa#NYSE">AA</a>) reported better-than-expected sales for its first quarter. The company reported quarterly losses of 81 cents per share. Alcoa still sees full-year alumina production of between 9.8 million and 10 million metric tons and full-year alumina shipments between 12.7 million and 12.9 million metric tons. Alcoa shares rose 3% to $36.63 in the after-hours trading session.
Analysts expect Marsh &amp; McLennan Companies, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mmc#NYSE">MMC</a>) to post quarterly earnings at $2.80 per share on revenue of $6.39 billion before the opening bell. Marsh &amp; McLennan shares gained 0.2% to $198.00 in after-hours trading.
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/04/38285336/how-to-earn-500-a-month-from-intel-stock-ahead-of-q1-earnings"> How To Earn $500 A Month From Intel Stock Ahead Of Q1 Earnings </a>

D.R. Horton, Netflix And 3 Stocks To Watch Heading Into Thursday

Tesla, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38262675/not-good-for-tesla-if-its-true-says-fund-manager-as-new-report-says-ev-maker-has-pu">fundamentals have been on the wane for an extended period,</a> with the financial results testifying to the fact. A fund manager on Wednesday noted that the stock has been down in earnings reaction in each of the past four quarters.
What Happened: Tesla&#8217;s shares have reacted negatively to earnings of each of the four past quarters, beginning in the first quarter of 2023.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Quarter</td>
<td>Earnings Date</td>
<td>Revenue Performance</td>
<td>EPS Performance</td>
<td>Stock Reaction (session following the report)</td>
<td>What weighed down</td>
</tr>
<tr>
<td>Q1&#8217;23</td>
<td>April 19, 2023</td>
<td>Beat</td>
<td>In-line</td>
<td>-9.75%</td>
<td>y-o-y revenue &amp; EPS declines, price cuts</td>
</tr>
<tr>
<td>Q2&#8217;23</td>
<td>July 19, 2023</td>
<td>Beat</td>
<td>Beat</td>
<td>-9.74%</td>
<td>falling margins, Cybertruck launch uncertainty</td>
</tr>
<tr>
<td>Q3&#8217;23</td>
<td>Oct. 18, 2023</td>
<td>Miss</td>
<td>Miss</td>
<td>-9.30%</td>
<td>double miss, margin erosion</td>
</tr>
<tr>
<td>Q4&#8217;23</td>
<td>Jan. 24, 2024</td>
<td>Miss</td>
<td>Miss</td>
<td>-12.12%</td>
<td>double miss, margin erosion</td>
</tr>
</tbody>
</table>
</figure>
Fund manager Gary Black, who runs Future Fund observed the post-earnings plunge in a post on X.
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>
Turnaround In Offing? Given the company&#8217;s fundamentals have not improved since then and have only deteriorated, the stock could likely swoon yet again post earnings. The only consolation is that much of the negativity is already priced into the stock. Following Tesla&#8217;s first quarter d delivery decline, the first since the COVID-19-hit 2020-second quarter, analysts have scaled back their expectations
Most have also taken down their price targets. On Wednesday, Barclays analyst Dan Levy reduced the price target for Tesla stock from $225 to $180, while maintaining an Equal Weight rating. The analyst said he expected a first-quarter miss due to soft margins. He calls for gross margins of 14.6% for the first quarter, citing weaker volume. 
The second quarter could also have a downside if the company has to cut prices further amid the inventory buildup, the analyst said. He sees the first-quarter call to be a negative catalyst for the stock. Model 2 plans will likely get the most attention but the management will unlikely give a satisfactory response, he added.
Black has opted to remain cautious with his prediction. He called upon the Tesla management to focus on explaining why fundaments will improve and stay away from &#8220;grandiose promises&#8221; about robotaxi.
Investors may want to hear that the 2024 volume growth won&#8217;t be negative as many analysts have been predicting and that the auto gross margin likely bottomed in the first quarter, he said. The fund manager also said the company should delve into the timing of the $25K compact car, as he sees it as one that would bridge the gap between the &#8220;two growth waves&#8221; to justify Tesla&#8217;s P/E multiple of 60.
Tesla is scheduled to report its first-quarter results on Tuesday. Analysts, on average, expect the company to report earnings per share of 52 cents on revenue of $22.49 billion, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data.</a>&nbsp;This compares to the year-ago earnings of 85 cents per share and revenue of $23.33 billion.
Price Action: Tesla ended Wednesday down for a fourth straight session, losing 1.06% to $155.45, according to Benzinga Pro data.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by <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/24/04/38294335/tesla-analyst-says-expect-fireworks-into-shareholder-meeting-after-ev-giants-proxy-">Tesla Analyst Says Expect &#8216;Fireworks&#8217; Into Shareholder Meeting After EV Giant&#8217;s Proxy Filing: &#8216;Clock Has Struck Midnight For Musk&#8217;</a>
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Analyst Color

Equities

Price Target

Reiteration

Tech

Tesla Stock Fell Over 9% After Past 4 Earnings Reports: Fund Manager Offers Advice On How Elon Musk Can Break Woeful Streak

Marsh &amp; McLennan Companies, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mmc#NYSE">MMC</a>) is set to release earnings results for its first quarter before the <a href="https://www.benzinga.com/quote/MMC/earnings">opening bell on April 18, 2024.</a>
Analysts expect the New York-based company to report quarterly earnings at $2.80 per share, up from $2.53 per share in the year-ago period. Marsh &amp; McLennan is projected to report quarterly revenue of $6.39 billion, compared to $5.92 billion in the year-earlier quarter, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On March 13, Marsh McLennan declared a quarterly dividend of 71 cents per share on outstanding common stock, payable on May 15, 2024 to stockholders of record on April 4, 2024.
Marsh &amp; McLennan shares rose 0.7% to close at $197.62 on Wednesday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie"> Analyst Stock Ratings </a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let&rsquo;s have a look at how Benzinga&rsquo;s most-accurate <a href="https://www.benzinga.com/quote/MMC/analyst-ratings"> analysts have rated the company </a> in the recent period.
<ul>
<li>Piper Sandler analyst Paul Newsome downgraded the stock from Overweight to Neutral with a price target of $211 on April 17, 2024. This analyst has an accuracy rate of 76%.</li>
<li>Wells Fargo analyst Elyse Greenspan downgraded the stock from Overweight to Equal-Weight with a price target of $212 on April 11, 2024. This analyst has an accuracy rate of 75%.</li>
<li>Evercore ISI Group analyst David Motemaden maintained an Outperform rating and raised the price target from $212 to $218 on April 11, 2024. This analyst has an accuracy rate of 67%.</li>
<li>Keefe, Bruyette &amp; Woods analyst Meyer Shields maintained an Underperform rating and boosted the price target from $185 to $188 on April 10, 2024. This analyst has an accuracy rate of 71%.</li>
<li>JP Morgan analyst Jimmy Bhullar maintained a Neutral rating and increased the price target from $190 to $198 on April 8, 2024. This analyst has an accuracy rate of 61%.</li>
</ul>
&nbsp;
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Marsh & McLennan Likely To Report Higher Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Chipmaking giant&nbsp;Taiwan Semiconductor Manufacturing Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) on Thursday reported first-quarter results that beat market expectations, thanks to strong demand from companies involved in artificial intelligence.
What Happened:
<ul>
<li>TSMC&#8217;s revenue rose 16.5% to NT$592.64 billion ($18.87 billion), exceeding the consensus estimate of $18.40 billion.</li>
<li>Net income jumped 8.9% to NT$225.49 billion ($6.97 billion), exceeding the expected NT$213.59 billion.</li>
<li>Diluted earnings per share (EPS) came at $1.38 compared to expectations of $1.32.</li>
</ul>
However, TSMC experienced a slight decline from the fourth quarter of 2023, with revenue and net income decreasing by 5.3% and 5.5%, respectively.
The company reported a gross margin of 53.1%, an operating margin of 42.0%, and a net profit margin of 38.0%.
What Drove The Beat?
Advanced technologies, including 7-nanometer processes and more advanced ones, accounted for 65% of TSMC&#8217;s total revenue. Within this, 3-nanometer technology comprised 9%, 5-nanometer contributed 37%, and 7-nanometer made up 19%.
Apple&#8217;s Dominating Role:
Apple Inc.&nbsp;has reportedly secured most of&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/02/37370629/apple-and-tsmc-collaborate-on-next-gen-2nm-chips-eyeing-2025-production-start-report" rel="noreferrer noopener">TSMC&#8217;s initial 2-nanometer</a>&nbsp;production capacity, likely to develop advanced processors. Analysts believe Apple is&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/03/37567132/tsmc-to-win-5b-grant-for-us-plant-to-service-apple-nvidia-chip-demand-report" rel="noreferrer noopener">TSMC&#8217;s biggest buyer</a>, contributing 25% of TSMC&#8217;s yearly income in 2023, totaling $17.5 billion.
Other Key Customers:
Another significant customer is likely&nbsp;Nvidia, contributing 11% of TSMC&#8217;s revenue, amounting to around $7.73 billion. While TSMC doesn&#8217;t reveal all its clients, analysts believe companies like AMD, Broadcom, and Qualcomm are among them.
Why It Matters:
TSMC&#8217;s robust financial performance is a positive sign for the semiconductor sector, which is experiencing a surge in demand due to the growing use of AI applications such as OpenAI&#8216;s ChatGPT and Microsoft&#8216;s Copilot.
Speculation <a href="https://www.benzinga.com/news/24/04/38299207/whats-going-on-with-taiwan-semiconductor-stock" target="_blank" rel="noreferrer noopener">about TSMC&#8217;s performanc</a>e was high after a disappointing earnings report from rival ASML Holding N.V., which initially led to a dip in TSMC&#8217;s shares. Additionally, concerns arose regarding a recent earthquake in Taiwan. However, the company <a href="https://www.benzinga.com/government/24/04/38108147/taiwan-semi-a-key-supplier-to-nvidia-and-apple-springs-back-to-action-after-taiwan-earthquake">quickly resumed operations</a>, assuaging these concerns.
Price Action: TSM closed down 0.55% at $139.03 on Wednesday, but was up 0.16% in after-hours trading, according to&nbsp;<a target="_blank" href="https://benzinga.grsm.io/register174" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/04/38281470/the-court-case-that-could-change-the-cannabis-industry-forever-and-how-it-affects-rescheduling?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">The Court Case That Could Change The Cannabis Industry Forever And How It Affects Rescheduling</a>
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Earnings Beats

Strong AI Chip Demand Propels Key Apple, Nvidia Supplier Past Q1 Expectations

Nokia&#39;s full year 2024 outlook is unchanged. Nokia currently expects comparable operating profit of between EUR 2.3 billion to 2.9 billion and free cash flow conversion from comparable operating profit of between 30% and 60%. &nbsp;

Guidance

Nokia Reaffirms 2024 Outlook: Comparable Operating Profit Of €2.3B-€2.9B And Free Cash Flow Conversion From Comparable Operating Profit Of 30%-60%

Nokia Q1 Adj. EPS €0.09 Up From €0.06 YoY, Sales €4.667B Down From €5.859B YoY

GameOn Entertainment Technologies reports FY results

GameOn Entertainment Technologies reports Q1 results

GameOn Entertainment Technologies reports Q2 results

GameOn Entertainment Technologies reports Q3 results

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