Hangzhou Tigermed Stock (OTC:HNGZY), Trade Ideas

Hangzhou Tigermed Consulting Co Ltd is a China-based Contract Research Organization. The company's segment includes Clinical trial solutions and Clinical-related and laboratory services. It generates maximum revenue from the Clinical trial solutions segment. The company's offered services include bioanalytical, medical writing, biostatistics analysis, and medical imaging. The therapeutic areas of the company include Infections, Hematology, Cardiovascular, Endocrinology, Rheumatology, Nephrology, and Central Nervous System (CNS) among others.

HANGZHOU TIGRMD UNSP/ADR by HANGZHOU TIGERMED CONSULTING CO LTD.

Hangzhou Tigermed Consulting Co Ltd

Investors anticipate a potential further drop in&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38307408/strong-ai-chip-demand-propels-key-apple-nvidia-supplier-past-q1-expectations" rel="noreferrer noopener">Taiwan Semiconductor Manufacturing Co</a>. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) stock, which has plummeted over 13% in the past six days.
What Happened:&nbsp;The chipmaker&#8217;s stock has been on a downward spiral since its April 11 earnings call, where it revised its growth forecasts for the semiconductor industry due to industry challenges. These revisions led to a market value loss exceeding $100 billion, as&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-04-22/tsmc-s-13-rout-may-have-further-to-go-options-traders-indicate" rel="noreferrer noopener">reported</a>&nbsp;by Bloomberg on Monday.
The surge in put options, bets on the stock&#8217;s decline, reflects increased bearish sentiment. Open interest for both put and call options on Friday was 20% higher than their 20-day averages, according to Bloomberg.
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/cryptocurrency/24/04/38346682/shiba-inu-army-cheers-as-burn-rate-soars-172-price-rebounds?itm_source=parsely-api" rel="noreferrer noopener">Shiba Inu Army Cheers As Burn Rate Soars 172%, Price Rebounds</a>
Other tech giants like&nbsp;NVIDIA Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and&nbsp;Super Micro Computer Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) have also seen significant stock price drops, contributing to broader tech sector unease.
Why It Matters: TSMC&#8217;s challenges reflect a broader chip industry trend. The company, a key supplier to both Nvidia and Apple Inc, recently <a href="https://www.benzinga.com/markets/equities/24/04/38328610/tsmc-cautions-red-hot-chip-industry-growth-could-cool-amid-declining-automotive-chip-demand" target="_blank" rel="noreferrer noopener">revised its growth forecast</a> for non-memory chip markets to 10%, down from &#8220;more than 10%,&#8221; due to potential decreased demand for consumer electronics.
Earlier this month, concerns arose regarding the impact of production challenges at TSMC on AI development following&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38083172/taiwan-earthquake-alarms-gene-munster-the-only-thing-that-can-slow-ai-in-the-near-term-is-impact-on" rel="noreferrer noopener">a 7.2-magnitude earthquake</a>&nbsp;that temporarily halted chip production.
Despite these challenges, Taiwan is bolstering&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38288066/taiwan-bolsters-chip-diplomacy-with-canada-and-france-amid-china-tensions" rel="noreferrer noopener">its &#8220;chip diplomacy,&#8221;</a>&nbsp;efforts to secure its leading chip producer position through international partnerships. Recent tech deals with the U.S., Canada, France, and Germany aim to support chip design engineer development and nurture tech talent.
Price Action:&nbsp;Taiwan Semiconductor closed Monday up 1.6% at $129.75, with a slight after-hours decline. However, the stock remains up 27.79% year-to-date. Nvidia is trading at $795 (65.08% YTD increase), while Super Micro Computer is at $717 (151.19% YTD increase)<a target="_blank" href="https://pro.benzinga.com/dashboard" rel="noreferrer noopener">from Benzinga Pro</a>
Read Next: <a href="https://www.benzinga.com/news/24/04/38347033/bound-by-courtroom-rules-donald-trump-is-doing-something-uncommon-for-his-public-persona-staying-sil?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bound By Courtroom Rules, Donald Trump Is Doing Something Uncommon For His Public Persona: Staying Silent</a>
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Markets

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NVDA

SMCI

Key Apple, Nvidia Chip Supplier's Stock Woes Not Yet Over? Here's What Options Data Shows

WOLF

Reported Earlier, Wolfspeed To Review JANA Partners' Suggestions, Aims For Enhanced Value

As&nbsp;Donald Trump&nbsp;fights&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38346954/trump-in-hot-seat-in-hush-money-case-prosecutors-seek-deep-dive-into-ex-presidents-alleged-misconduc" rel="noreferrer noopener">the New York hush-money</a>&nbsp;criminal case, a former Department of Justice attorney warned that testifying on his behalf could pose risks for the former president.
What Happened: Trump has the right to testify as a defendant, but it&#8217;s not mandatory, explained&nbsp;Andrew Weissmann, former Assistant U.S. Attorney and law professor, in an MSNBC&nbsp;<a target="_blank" href="https://www.msnbc.com/inside-with-jen-psaki/watch/-death-knell-to-the-case-weissmann-on-possible-trump-testimony-in-criminal-trial-209429061627" rel="noreferrer noopener">interview</a>.
&#8220;He has no burden whatsoever, and the jury will be told that and they cannot use the fact that he chooses not to testify in any way against him,&#8221; Weissmann clarified. Trump&#8217;s lawyers may not be in favor of him testifying, he said. &#8220;I am confident that lawyers like&nbsp;Susan Necheles&nbsp;are going to throw their bodies in front of the witness stand trying to get him not to take the stand,&#8221; he added
On the other side, the prosecution side may relish the prospect, Weissmann said. &#8220;And if you are the prosecutors, you are just licking your chops thinking, fine, you want to take the stand? Great,&#8221; he said.
Citing Trump&#8217;s prior inconsistent statements, Weissmann said, &#8220;So he&#8217;s taking a stand would&nbsp;really&nbsp;be a death knell, I think, to the case.&#8221; That said, the legal expert did not rule out Trump doing it, citing his unpredictability and his hubris.
The former president&#8217;s involvement in the&nbsp;E. Jean Carroll&nbsp;case resulted in the fine swelling from $5 million to $85 million, he noted. &#8220;So if he proceeds in that sort of mode, I don&#8217;t think he&#8217;s going to be helping himself,&#8221; he said.
See Also:<a target="_blank" href="https://www.benzinga.com/news/24/04/38356833/liz-cheney-says-trump-doing-everything-possible-to-postpone-jan-6-case-beyond-election-deep-flaws-in" rel="noreferrer noopener">&nbsp;Liz Cheney Says Trump &#8216;Doing Everything Possible&#8217; To Postpone Jan. 6 Case Beyond Election: &#8216;Deep Flaws In Character&#8230;Make Him Unfit To Serve As President&#8217;</a>
Why It&#8217;s Important:&nbsp;Prosecutors in the hush-money case trial told the jury on Monday that it was an &#8220;election fraud, pure and simple,&#8221; as Trump tried to cover up to hide a sex scandal ahead of the 2016 presidential election.
&#8220;Trump orchestrated a criminal scheme to corrupt the 2016 presidential election. Then he covered up that criminal conspiracy by lying in his NY business records over and over and over again,&#8221; they said.
Weissmann said in a post on X that New York District Attorney&nbsp;Alvin Bragg&nbsp;&#8220;squarely places the NY criminal trial in the election interference/corruption bucket&#8211; exactly what the DC and GA indictments allege, just 4 years later.&#8221;
The outcome of the trial is important as it is likely to be one of Trump&#8217;s four criminal cases that will reach a verdict before the Nov. 5 election. The former president is running a&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38347218/biden-vs-trump-matchup-in-north-carolina-shows-slight-setback-for-one-candidate-can-his-relentless-e" rel="noreferrer noopener">neck-on-neck race with&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/04/38347218/biden-vs-trump-matchup-in-north-carolina-shows-slight-setback-for-one-candidate-can-his-relentless-e" rel="noreferrer noopener">Joe Biden</a>&nbsp;in the 2024 election and therefore his lawsuits could play a huge part in the outcome.
Read Next: <a href="https://www.benzinga.com/money/best-real-estate-stocks-right-now">Best Real Estate Stocks Right Now</a>

Politics

Trump Taking The Stand In NY Hush-Money Trial Would 'Really Be A Death Knell,' Says Ex-DOJ Attorney: 'Not Going To Help Himself'

<ul>
<li>Designated an FDA Breakthrough Therapy, the novel immunotherapy ANKTIVA activates the body&#39;s natural killer (NK) and killer T-cell immune system to attack tumor cells</li>
<li>Therapy stimulates memory T cells, leading to long duration of complete response exceeding 47 months and ongoing to date, with a median duration of response yet to be determined</li>
<li>The percentage of patients with durable responses at 12 and 24 months exceeded the benchmark for magnitude of clinically meaningful results established by experts at the International Bladder Cancer Group (IBCG)</li>
<li>ANKTIVA in combination with BCG is approved for maintenance therapy for up to 37 months with tolerable side effects ranging from&nbsp;0%&nbsp;to&nbsp;3%&nbsp;Grade 3/4 adverse events</li>
<li>ANKTIVA is expected to be available in the U.S. by mid-May 2024</li>
</ul>

IBRX

Reported Earlier, ImmunityBio Has Received FDA Approval For ANKTIVA, A First-In-Class IL-15 Receptor Agonist, For BCG-Unresponsive Non-Muscle Invasive Bladder Cancer

In the latest development, Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) has reportedly projected a slower increase in the production and delivery of its 787 widebody jets. This is primarily due to supplier shortages,
What Happened: Scott Stocker, the 787 vice president and general manager, disclosed the situation to employees at the South Carolina facility via a memo on Monday, Reuters reported. Despite the hurdles, Boeing is determined to incrementally increase its rate to cater to the &#8220;strong demand&#8221;.
The memo highlighted, &#8220;We continue to manage through supplier shortages on a few key parts.&#8221; 
It also mentioned that customers have been notified about the anticipated slower increase in production and deliveries.
The Federal Aviation Administration (FAA) is keeping a close watch on Boeing&#8217;s challenges in procuring certain parts and is in constant communication with the company. The agency&#8217;s primary concern is to ensure that only safe and compliant airplanes are dispatched from the factory.
See Also: <a href="https://www.benzinga.com/news/24/04/38347033/bound-by-courtroom-rules-donald-trump-is-doing-something-uncommon-for-his-public-persona-staying-sil?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bound By Courtroom Rules, Donald Trump Is Doing Something Uncommon For His Public Persona: Staying Silent</a>
Boeing, scheduled to announce earnings on Wednesday, is facing scrutiny over the manufacturing of its 777 and 787 widebody jets. This comes in the wake of allegations by company engineer Sam Salehpour at a U.S. Senate hearing last week, who pointed out inadequate shimming in some areas of the 787 Dreamliner.
Furthermore, the company&#8217;s separate production of its 737 MAX single-aisle jet in Washington state has experienced a significant decline, as U.S. regulators tighten factory inspections and workers slow down the assembly line to complete outstanding work.
Why It Matters: The latest development comes on the heels of <a href="https://www.benzinga.com/markets/equities/24/04/38330613/boeing-grapples-with-32-whistleblower-complaints-in-3-years-amid-mounting-safety-concerns-report">32 whistleblower complaints</a> against Boeing over the past three years, with allegations of employer retaliation being investigated by the U.S. workplace safety regulator. This has raised significant safety concerns for the company.
Moreover, as Boeing<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38365885/boeing-will-deliver-q1-earnings-while-at-center-of-air-safety-scandal-everybody-wan"> prepares to release its Q1 earnings</a>, investors are keen to see if the company&#8217;s performance can offset the recent scandals that have tarnished its public image.
Price Action: On Monday, the stock closed at 170.48, with a slight increase of 0.22% from the previous close.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38346938/trump-is-a-force-of-nature-reince-priebus-has-raised-70m-for-gop-convention-despite-being-pushed?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Trump Is A Force of Nature&#8217;: Reince Priebus Has Raised $70M For GOP Convention Despite Being Pushed Out</a>
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General

Boeing Foresees Slower 787 Production Ramp-Up Due To Supplier Shortages: Report

Rilzabrutinib LUNA 3 phase 3 study met primary endpoint in immune thrombocytopenia
<ul>
<li>Pivotal data from the first phase 3 study of a BTKi in immune thrombocytopenia (ITP) underscore the potential of rilzabrutinib to provide a clinically meaningful benefit to patients living with ITP</li>
<li>Regulatory submissions in the US and EU anticipated by year-end</li>
<li>Rilzabrutinib is one of 12 potential medicines and vaccines in Sanofi&#39;s robust immunology pipeline and a testament to Sanofi&#39;s ability to successfully accelerate and build a portfolio of next-generation transformative treatments for immune diseases</li>
<li>In addition to ITP, rilzabrutinib is being studied across a variety of immune-mediated diseases including asthma, chronic spontaneous urticaria, prurigo nodularis, IgG4-related disease and warm autoimmune hemolytic anemia</li>
</ul>

Sanofi's Rilzabrutinib LUNA 3 Phase 3 Study Met Primary Endpoint In Immune Thrombocytopenia

<ul>
<li>Vertex obtains an exclusive license to&nbsp;TreeFrog&#39;s C-StemTM &nbsp;manufacturing technology in type 1 diabetes&nbsp;</li>
<li>TreeFrog and Vertex to collaborate on scale-up of fully differentiated, insulin-producing pancreatic islet cells&nbsp;</li>
</ul>

VRTX

Vertex Announce Licensing Agreement And Collaboration With Treefrog Therapeutics To Optimize Production Of Vertex's Cell Therapies For Type 1 Diabetes

Macro Economic Events

Econ #s

Economics

BBJP

WisdomTree Trust Japan Total Dividend Fund

Bank Of Japan Core Consumer Price Index (YoY) 2.2% Vs. 2.3% Prior

Pinnacle Finl Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNFP#NASDAQ">PNFP</a>) reported quarterly earnings of $1.57 per share which beat the analyst consensus estimate of $1.54 by 1.95 percent. This is a 10.8 percent decrease over earnings of $1.76 per share from the same period last year. The company reported quarterly sales of $428.14 million which beat the analyst consensus estimate of $422.49 million by 1.34 percent. This is a 6.57 percent increase over sales of $401.76 million the same period last year.

Earnings

Earnings Beats

PNFP

Pinnacle Finl Partners Q1 EPS $1.57 Beats $1.54 Estimate, Sales $428.14M Beat $422.49M Estimate

Chinese entities have managed to acquire high-end NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) chips, despite the U.S. imposing a ban on such technology. The chips were obtained through third-party vendors and were embedded in servers made by Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>), and Gigabyte Technology Co Ltd.
What Happened: Despite the U.S. expanding its ban on the sale of such technology to China in November, ten Chinese entities successfully acquired advanced Nvidia chips. These chips were integrated into servers manufactured by Super Micro, Dell, and Gigabyte Technology, Reuters reported reviewing hundreds of tender documents.
The servers contained some of Nvidia&#8217;s most advanced chips, as per the tenders fulfilled between Nov. 20 and Feb. 28. The U.S. embargo, which was expanded on Nov. 17, subjected more chips and countries to licensing rules.
The reviewed tender documents showed that the Chinese entities obtained the chips through little-known Chinese retailers. It was unclear whether these retailers used stockpiles acquired before the U.S. tightened chip-export restrictions in November.
See Also: <a href="https://www.benzinga.com/markets/asia/24/04/38351314/did-tesla-just-trigger-another-brutal-price-war-in-china-li-auto-blinks-first-with-up-to-4-000-disco?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Did Tesla Just Trigger Another Brutal Price War In China? Li Auto Blinks First With Up To $4,000 Discount</a>
Nvidia stated that the tenders specify products that were exported and widely available before the restrictions. &#8220;They do not indicate that any of our partners violated the export control rules and are a negligible fraction of the products sold worldwide,&#8221; a spokesperson said.
The server makers also claimed they complied with applicable laws or would investigate further.
Daniel Gerkin, a partner at law firm Kirkland &amp; Ellis based in Washington, suggested that Nvidia chips might have been redirected to China without the manufacturer&#8217;s awareness, due to a lack of transparency in downstream supply chains.
A Dell spokesperson said the company &#8220;found no evidence of shipping products configured with the restricted chips you listed to the entities you named&#8221;, but that it would continue to investigate.
Why It Matters: The U.S. has been taking several measures to restrict China&#8217;s access to advanced chip technology. In March, the U.S. announced a <a href="https://www.benzinga.com/news/24/03/38001201/us-to-unveil-list-of-chinese-chip-factories-banned-from-receiving-key-tech-report">list of Chinese chipmaking facilities</a> that would be prohibited from receiving crucial tools. This move was expected to significantly impact the global semiconductor industry.
Despite these restrictions, China has continued to <a href="https://www.benzinga.com/markets/asia/24/04/38024971/china-criticizes-us-chip-export-rules-impacting-nvidia-and-amd">criticize the U.S.&#8217;s semiconductor export regulations</a>. The country remains a crucial market for U.S. semiconductor firms, with companies like Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), Broadcom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), and Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) reporting greater <a href="https://www.benzinga.com/news/24/04/38219726/despite-us-china-tensions-beijing-remains-crucial-market-for-nvidia-intel-and-other-american-chipmak">revenues from China</a> than from the U.S.
Despite the ban, Chinese entities, including the military and government sectors, have managed to <a href="https://www.benzinga.com/government/24/01/36626149/xi-jinpings-military-and-government-continue-to-acquire-banned-nvidia-chips-amid-us-export-restricti">procure Nvidia chips</a> through various means, highlighting the challenges faced by the U.S. in completely cutting off China&#8217;s access to advanced U.S. chips.
Read Next: <a href="https://www.benzinga.com/markets/asia/24/04/38346345/chinese-hackers-may-control-your-water-and-are-laying-in-wait-fbi-warns-3-startups-to-watch?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Chinese Hackers Could Control Your Water — And Are Laying in Wait: FBI</a>
Image Via Shutterstock 
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 Kaustubh Bagalkote</a> 
 
 
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Asia

Global

AVGO

DELL

INTC

QCOM

Nvidia's High-End Chips Ended Up In Chinese Hands Despite US Ban: Here's How Beijing Scored Them

The price of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) could still more than double this year, according to a bullish forecast by Standard Chartered analyst Geoff Kendrick, despite the recent pullback.
What Happened: Kendrick, the head of digital assets research at Standard Chartered, has reiterated the firm&#8217;s price target of $150,000 for Bitcoin by the end of 2024, suggesting a 127% increase from the current levels, during an <a href="https://youtu.be/Kf4LapnBQaQ?feature=shared">interview</a> with BNN Bloomberg.
Despite a recent 11% slide from its all-time high of around $73,000 in March, Kendrick believes that Bitcoin&#8217;s price could surge again later in the year. The pullback was attributed to a decrease in inflows into Bitcoin ETFs and escalating tensions in the Middle East.
&#8220;From where we are now, it&#8217;s starting to look like we can push higher again,&#8221; Kendrick said.&nbsp;
Kendrick anticipates a significant influx of investor funds in the coming months, with spot Bitcoin ETFs already amassing around $12 billion since their approval in January. He predicts that these inflows could reach $50 billion to $100 billion over the next two years as the U.S. crypto ETF market matures.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38349807/bitcoin-signals-potential-67-gain-as-this-key-metric-dips-below-90-day-average-analyst-say?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Signals Potential 67% Gain As This Key Metric Dips Below 90-Day Average: Analyst Says &#8216;Perfect Ti</a>
Moreover, Kendrick pointed out that Bitcoin&#8217;s recent halving event, which reduces the reward for Bitcoin miners and the amount of new Bitcoin entering circulation, historically leads to a surge in Bitcoin prices. This trend, combined with the anticipated investor inflows, could propel Bitcoin to new highs.
Why It Matters: Despite the recent pullback, several analysts and experts have maintained a positive outlook on Bitcoin&#8217;s future. Michael van de Poppe, a cryptocurrency analyst, recently predicted a market upswing following the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38368446/bitcoin-surge-predicted-by-crypto-analyst-post-halving-rotation-has-slowly-started">Bitcoin halving event</a>, suggesting that the market rotation has already begun.
Meanwhile, renowned economist Peter Schiff has warned against piling into &#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38358074/peter-schiff-warns-against-piling-risk-assets-like-tech-stocks-and-bitcoin-amid-inf">risk assets</a>&#8221; like Bitcoin amid inflation concerns, advocating for gold as a safer investment.
On the other hand, Ali Martinez, a prominent crypto analyst, has identified a potential buying opportunity for Bitcoin, with a <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38349807/bitcoin-signals-potential-67-gain-as-this-key-metric-dips-below-90-day-average-analyst-say">potential 67% gain</a> as the MVRV ratio dips below its 90-day average.
Price Action: According to data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>, Bitcoin is currently priced at $66,601, marking a slight decrease of 0.39% in the last 24 hours. Nevertheless, it has surged by an impressive 50.78% year-to-date. In comparison, Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) is trading at $3,189, experiencing a 0.37% decrease in the last 24 hours but still showing a notable increase of 35.58% year-to-date.
Meanwhile, Dogwifhat (WIF), a popular memecoin trading at $2.81, has delivered the highest year-to-date returns, with the coin soaring by more than 1735%.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38346576/doge-day-has-an-elon-musk-connection-meme-coin-rebounds-after-the-bitcoin-halving-sell-the?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Doge Day Has An Elon Musk Connection, Meme Coin Rebounds After The Bitcoin Halving &#8216;Sell-The-News&#8217; Drop</a>
Image Via Shutterstock
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 Engineered by 
 Benzinga Neuro, Edited by 
 
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Analyst Ratings

$BTC

$ETH

Bitcoin To More Than Double In Value To $150K By Year-End, Says Standard Chartered Analyst: 'We Can Push Higher Again'

Washington Federal (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WAFD#NASDAQ">WAFD</a>) reported quarterly earnings of $0.73 per share which beat the analyst consensus estimate of $0.60 by 21.67 percent. This is a 13.1 percent decrease over earnings of $0.84 per share from the same period last year. The company reported quarterly sales of $171.99 million which beat the analyst consensus estimate of $151.64 million by 13.42 percent. This is a 7.09 percent decrease over sales of $185.11 million the same period last year.

WAFD

Washington Federal Q2 Adj EPS $0.73 Beats $0.60 Estimate, Sales $171.99M Beat $151.64M Estimate

Southeast Airport Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASR#NYSE">ASR</a>) reported quarterly earnings of $6.21 per share which beat the analyst consensus estimate of $4.97 by 25.03 percent. This is a 33.92 percent increase over earnings of $4.64 per share from the same period last year. The company reported quarterly sales of $449.72 million which beat the analyst consensus estimate of $418.86 million by 7.37 percent. This is a 30.18 percent increase over sales of $345.47 million the same period last year.

Southeast Airport Group Q1 EPADS $6.21 Beats $4.97 Estimate, Sales $449.72M Beat $418.86M Estimate

Mark Zuckerberg has shared a viral video of him with a mustache and a beard. Alas! It wasn't real, but a photoshopped version.&nbsp;
What Happened: The Meta Platforms CEO posted the video after the internet started sharing a picture of him with facial hair — contrasting his usual clean-shaven appearance. 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="472" height="1024" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/22233743/IMG_2970-472x1024.png" alt="" class="wp-image-303342" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/22233743/IMG_2970-472x1024.png 472w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/22233743/IMG_2970-138x300.png 138w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/22233743/IMG_2970.png 498w" sizes="(max-width: 472px) 100vw, 472px" /></figure>
It all started after he announced a &#8220;new version of Meta AI&#8221; on April 18. A social media user named Mike Rundle added a mustache and beard to a screengrab of Zuckerberg and posted it on X, formerly Twitter.&nbsp;At the time of writing, Rundle&#8217;s post on X had 2.2 million views. 
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-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">Me: Bearded Zuck you have to stop. Your smoked meat&#39;s too tough. Your swag too different. Your open source LLM is too bad. they&#39;ll kill you Bearded Zuck: <a href="https://t.co/pdKwMUmpKS">pic.twitter.com/pdKwMUmpKS</a>
&mdash; Mike Rundle (@flyosity) <a href="https://twitter.com/flyosity/status/1781046513726066959?ref_src=twsrc%5Etfw">April 18, 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/news/24/04/38351566/mark-zuckerberg-didnt-sell-facebook-for-1b-but-would-he-have-sold-for-5t-this-was-meta-ceos-thought">Mark Zuckerberg Didn&#8217;t Sell Facebook For $1B But Would He Have Sold For $5T? This Was Meta CEO&#8217;s Thought Process</a>
Unsurprisingly, the picture went viral receiving reactions from not only the general public but also from Zuckerberg and his wife Priscilla Chan, <a href="https://people.com/mark-zuckerberg-reacts-viral-beard-photo-8636546">reported</a> People. 
Chan shared the photoshopped bearded photo on her own Instagram story previously and jokingly said, &#8220;Anyone seen my husband???&#8221; She went on to say, &#8220;And who is this guy?&#8221;
Actress Gwyneth Paltrow, who is widely known for her role as Pepper Potts in &#8220;Iron Man&#8221; series and &#8220;Avengers,&#8221; also reacted to the photoshopped photograph saying it reminds her of her ex-husband. 
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/22234318/Screenshot-2024-04-23-at-9.13.07%E2%80%AFAM-1024x658.png" alt="" class="wp-image-303348" /></figure>
Photo courtesy: Anthony Quintano on Flickr
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Read Next: <a href="https://www.benzinga.com/general/entertainment/24/04/38345794/mark-zuckerberg-spills-the-beans-on-his-bromance-with-nvidias-jensen-huang-hell-yeah-lets-m">Mark Zuckerberg Spills The Beans On His Bromance With Nvidia&#8217;s Jensen Huang: ‘Hell Yeah, Let&#8217;s Make Cheesesteaks</a>

Mark Zuckerberg Sports A Beard In A New Instagram Video…Is That For Real?

Reported Earlier, au Jibun Bank Japan Services Purchasing Managers' Index (PMI) Preliminary 54.6 VS. 54.1 Prior

CNBC&#8217;s Jim Cramer, on Monday, highlighted the positive performance of the stock market but cautioned that the upcoming Big Tech earnings could determine the market&#8217;s future.
What Happened: Despite the positive market performance, Cramer warned that the upcoming Big Tech earnings, including those of Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), could determine the market&#8217;s future. These reports will indicate whether the recent tech sell-off will continue or come to an end, <a href="https://www.cnbc.com/2024/04/22/cramer-notes-positives-in-mondays-rebound-warns-vs-lasting-gains.html">reported</a> CNBC.
Chipmaker NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) experienced a 4% rise on Monday, following a 10% drop on Friday. Cramer noted that while the stock has recovered, it may not be enough to offset the losses from Friday.
See Also: <a href="https://www.benzinga.com/news/24/04/38339431/general-motors-and-ford-are-facing-the-same-challenge-as-they-run-back-to-gas-powered-trucks?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">General Motors And Ford Are Facing The Same Challenge As They Run Back To Gas-Powered Trucks</a>
&#8220;Nvidia&#8217;s gone from being the star of the show to being the goat of the game, and I&#8217;m not talking about the greatest of all time,&#8221; Cramer said. &#8220;We&#8217;ve learned from multiple pieces of research that Nvidia is doing quite well. I think the stock finally gets cheap enough to start tempting people.&#8221;
Why It Matters: The stock market has been experiencing a period of volatility, with experts offering differing opinions on its future. Cramer recently warned that the market hasn&#8217;t hit rock bottom yet, advising against <a href="https://www.benzinga.com/markets/equities/24/04/38329234/buying-the-dip-jim-cramer-and-tom-lee-warn-market-hasnt-hit-rock-bottom-yet-quintessential-wrong">buying the dip</a>. He suggested that the market is still in a downward trend and that buying at the start of the session is not the right move.
Despite these concerns, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38284811/wall-street-experts-dismiss-rate-cut-fears-middle-east-tensions-predict-bull-market">Wall Street veterans</a> remain confident that the bull market will persist, citing a robust U.S. economy and the potential of artificial intelligence (AI) as key drivers. The recent dip was triggered by higher-than-expected inflation in March, which led to a reevaluation of rate cut expectations for 2024. The situation was further exacerbated by Iran's attack on Israel over the weekend, prompting investors to seek refuge in safe havens like U.S. Treasuries.
However, Cramer also <a href="https://www.benzinga.com/markets/equities/24/04/38306086/jim-cramer-explains-what-could-trigger-further-market-decline-if-you-want-to-get-out-go-ahead">outlined potential factors</a> that could lead to further market decline, advising investors to be cautious about their buying and selling decisions. He warned investors against making sudden decisions to buy or sell.
Price Action: According to data <a href="https://www.benzinga.com/pro/">from Benzinga Pro</a>, Nvidia closed Monday&#8217;s trading at $795.18, marking a 4.35% increase. However, in after-hours trading, the stock saw a slight decline of 0.22%. Nonetheless, the chipmaker&#8217;s stock has surged by 65.08% year-to-date.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38345362/tesla-slashes-model-s-x-and-y-prices-in-us-by-2-000-in-late-friday-move-as-volume-growth-turns-n?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Slashes Model S, X And Y Prices In US By $2,000 In Late-Friday Move As Volume Growth Turns Negative</a>
Image Via Shutterstock 
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GOOG

GOOGL

IXIC

MSFT

TSLA

Jim Cramer Sees Nvidia As Going 'From Star Of The Show To Being The Goat Of The Game'

While most people are familiar with the concept of using home equity to finance home improvements or consolidate debt, few are aware of the growing trend of home equity investments (HEIs) as an emerging asset class. According to data from the St. Louis Fed, the total value of the U.S. home equity market is now $32.6 trillion, and HEIs are poised to become a significant player in the real estate investment landscape.
Home equity investments allow retail investors to access a homeowner&#8217;s equity in exchange for a stake in the home&#8217;s future appreciation. Unlike traditional mortgage debt, HEIs are all about equity—the foundation of real estate wealth. These investments generate returns in two ways: through increases in property values and payoffs generated from a home sale or refinance.
Home equity investment agreements provide homeowners with access to cash from their equity without the burden of added debt or monthly payments. At the same time, they deliver highly accelerated and downside-protected assets to investors. This emerging asset type has seen only a handful of originators operating within the $30+ trillion home equity market, with most dealing exclusively with private institutions.
However, Nada, a real estate investment platform, is changing the game by making home equity investments accessible to individual investors and smaller firms through its <a href="https://www.benzinga.com/go/cityfunds-yf">Cityfunds investment product</a> with a minimum investment as low as $500. Nada&#8217;s wholly-owned subsidiary, Nada Loans, LLC, sources and originates home equity investment agreements through its in-house licensed mortgage brokerage origination and underwriting team.
The potential for home equity investments is particularly compelling during periods of high interest rates. As traditional investments like bonds and stocks become more volatile, HEIs, being tied to real estate, offer stability and diversification.&nbsp;
These agreements often come with built-in risk mitigation features, such as investors sharing in a portion of the home&#8217;s appreciation rather than its absolute value, limiting potential losses.
As interest rates eventually decrease and the housing market continues to grow, home equity investments allow investors to benefit directly. The flexible terms of these agreements also provide advantages for both homeowners and investors as market conditions change.
Furthermore, home equity investments offer a low correlation with other asset classes, providing valuable diversification benefits and reducing overall portfolio risk.
With nearly $1 billion in unrated securitizations over the past two years and another $528 million in rated securitizations with the rating agency DBRS Morningstar, home equity investment agreements have proven to be an established and institutional-grade asset, similar to mortgage debt market products.
As the U.S. home equity market continues to grow and more investors become aware of the potential benefits of HEIs, this emerging asset class is likely to play an increasingly significant role in more portfolios. Investment products like <a href="https://www.benzinga.com/go/cityfunds-yf">Cityfunds</a>, which make these assets accessible to a wider range of investors, are at the forefront of this exciting new trend. Own a piece of the fastest-growing cities in the country through <a href="https://www.benzinga.com/go/cityfunds-yf">Cityfunds</a>, the first investment products to provide both accredited and non-accredited investors with a way to own a part of the $32.6T home equity market for a single city.<a href="https://www.benzinga.com/go/cityfunds-yf"> Get started today with as little as $500</a>.

Real Estate

Home Equity Investments Become An Emerging Asset Class As U.S. Market Value Surpasses $32 Trillion

Manhattan prosecutors have accused former President Donald Trump of violating a gag order multiple times. The judge is set to review the case.
What Happened: The prosecutors have alleged that Trump breached the gag order by attacking witnesses and jurors involved in his hush money case. Justice Juan Merchan has scheduled a hearing on Tuesday to consider the prosecutors&#8217; arguments, <a href="https://www.politico.com/news/2024/04/22/trump-hush-money-trial-gag-order-contempt-00153154">reported</a> Politico.
If the judge finds Trump in violation of the gag order, he will have to decide on the appropriate penalty. This could range from a warning to a fine to a short jail term.
Several former prosecutors anticipate Merchan&#8217;s leniency, yet they emphasize the fluidity, unpredictability, and unprecedented nature of the situation.
"Judge Merchan is going to do everything possible to give him as much leeway as possible to cure the situation and be a better defendant," said Diana Florence, a former Manhattan prosecutor.
Trump&#8217;s social media posts during the trial have been cited as exacerbating his legal risks. The prosecutors have pointed out multiple instances of Trump&#8217;s alleged violations, including a post on Truth Social where he referred to a key witness as a &#8220;disgraced attorney and felon.&#8221;
Adam Kaufmann, ex-prosecutor from the Manhattan District Attorney's Office, anticipates that the judge will adopt a lenient approach. "My guess is he will give a direct warning and then fine him next time," Kaufmann emailed. "But of course that's just a guess — who knows."
Peter Tilem, a former Manhattan prosecutor, describes the situation as a First Amendment nightmare. This is because political speech benefits from strong protections under the First Amendment. Trump&#8217;s legal team could potentially appeal any contempt ruling and argue on First Amendment grounds, claiming that the posts were a part of Trump&#8217;s political campaign. While success in such an appeal is uncertain, it would further complicate an already intricate legal process.
"This is probably one of the major reasons why it's a bad idea to be trying a presidential candidate in the middle of a campaign, because it gets you into this massive constitutional quagmire," Tilem said. "What do you do in a situation like this?"
See Also: <a href="https://www.benzinga.com/news/24/04/38347033/bound-by-courtroom-rules-donald-trump-is-doing-something-uncommon-for-his-public-persona-staying-sil?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bound By Courtroom Rules, Donald Trump Is Doing Something Uncommon For His Public Persona: Staying Silent</a>
Why It Matters: The hush money trial is a significant <a href="https://www.benzinga.com/news/24/04/38368085/what-happens-if-trump-gets-convicted-will-he-go-to-prison-heres-how-it-likely-to-play-out">legal battle for Trump</a>. If convicted, he could face a prison sentence, as each of the 34 charges he is facing is a Class E felony, with a maximum prison sentence of four years per count.
Trump&#8217;s testimony in the trial is also in question, with former Nixon White House counsel John Dean <a href="https://www.benzinga.com/news/24/04/38368188/trump-testimony-in-hush-money-case-doubtful-says-nixon-era-lawyer-could-be-very-uncomfortable-for-hi">expressing skepticism</a> about the likelihood of Trump testifying.
The trial has seen some dramatic allegations, with the prosecution claiming that Trump committed &#8220;conspiracy to undermine the integrity of a presidential election.&#8221; The <a href="https://www.benzinga.com/general/politics/24/04/38366379/trump-committed-conspiracy-to-undermine-the-integrity-of-a-presidential-election-prosecution-all">first key witness</a> in the trial was former National Enquirer publisher David Pecker.
Read Next: <a href="https://www.benzinga.com/news/24/04/38348277/trump-vs-biden-nationwide-poll-shows-key-issue-decidedly-tilts-equation-in-favor-of-one-candidate?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump vs. Biden: Nationwide Poll Shows Key Issue Decidedly Tilts Equation In Favor Of One Candidate</a>
Image Via Shutterstock 
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 Engineered by 
 Benzinga Neuro, Edited by 
 
 <a href="None" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none"> 
 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. 
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Legal

Trump Allegedly Violated Gag Order 10 Times, Will Hush Money Judge Show Leniency On Contempt Charges?

On Monday, Cathie Wood-led Ark Invest made significant trades involving Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Zoom Video Communications Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>). 
The Tesla Trade
Ark Invest purchased a total of 122,752 shares of Tesla across its ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>), ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>), and ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>). The Ark trade was valued at $17.44 million. Tesla shares closed 3.4% lower at $142.05 for the day.
Tesla shares have fallen over 40% since the year began and over a longer 12-year period they have declined more than 12%.
Significantly, this purchase comes on the eve of Tesla&#8217;s first-quarter <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38367087/tesla-q1-earnings-preview-is-ev-giant-no-longer-a-growth-stock-analysts-cautious-wa">financial results announcement</a>. Analysts expect Tesla to report first-quarter revenue of $22.34 billion, a slight decrease from the $23.33 billion reported in the same quarter of the previous year. This move by Ark Invest could be seen as a vote of confidence in the EV manufacturer, despite the cautious stance of analysts.
The Zoom Trade
Conversely, Ark Invest sold a total of 334,290 shares of Zoom Video Communications across its ARKK and ARKW ETFs. The value of the Zoom shares sold on April 22, based on the closing price of $59.54, is approximately $19.9 million.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38346682/shiba-inu-army-cheers-as-burn-rate-soars-172-price-rebounds?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Army Cheers As Burn Rate Soars 172%, Price Rebounds</a>
Analysts&#8217; ratings for Zoom have varied over the last quarter, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38320838/zoom-leverages-ai-powered-advancements-for-growth-analyst-sees-market-edge">ranging from bullish to bearish</a>. Despite this, Zoom has been leveraging AI-powered advancements for growth and holding its ground amidst intense competition. 
<ul>
<li>Other Key Trades: Ark Invest sold shares of 2U Inc (TWOU) from its ARKK ETF. </li>
<li>Ark Invest sold shares of Caterpillar Inc (CAT) from its ARKQ ETF.</li>
</ul>
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38350014/elon-musk-reacts-to-teslas-pricing-debate-only-a-fool-thinks?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts To Tesla&#8217;s Pricing Debate: &#8216;Only A Fool Thinks ….&#8217;</a>
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ETFs

ARKK

ARKQ

ARKW

Cathie Wood's Ark Invest Seizes Tesla Dip, Acquires Over $17M in Shares Ahead Of Q1 Results — Zoom Stock Dumped

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly on the verge of striking a <a href="https://www.benzinga.com/general/entertainment/23/02/30995199/appletv-set-to-offer-exciting-content-in-march-ted-lasso-mls-sports-rights-and-this-a-list-">momentous television deal</a> with Fédération Internationale De Football Association or FIFA for a new tournament. 
What Happened: The deal, which is yet to be officially confirmed, would grant Apple the global television rights for a month-long, World Cup-style tournament featuring top teams. It could be announced next month, <a href="https://www.nytimes.com/2024/04/22/business/fifa-apple-tv-deal.html">reported</a> The New York Times, citing three people familiar with the matter. 
The tournament is scheduled to be held in the U.S. next summer. If this deal comes to fruition, it would be the first time FIFA agreed to a single worldwide contract. It would also mark Apple&#8217;s latest venture into soccer following its 2022 deal, where it secured a 10-year, <a href="https://www.benzinga.com/general/entertainment/22/06/27710289/apple-ramps-up-sports-content-with-major-league-soccer-deal-what-investors-and-sports-fans-">$2.5 billion contract</a> for the worldwide streaming rights to Major League Soccer.
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According to sources, the deal&#8217;s worth could potentially be as low as a quarter of FIFA&#8217;s initial $4 billion estimate. Whether the agreement with Apple will encompass any free-to-air privileges remains uncertain, implying that the complete event might solely be accessible to Apple TV+ subscribers, a matter that FIFA senior executives have expressed apprehension about.
Why It Matters: The reported deal between FIFA and Apple is a significant development in the world of sports and streaming. It highlights the <a href="https://www.benzinga.com/general/entertainment/23/11/35612258/after-apple-amazon-also-ups-its-game-in-the-streaming-market-secures-rights-for-donald-trum">increasing influence of tech companies</a> in the sports broadcasting arena. 
For instance, last season, Peacock streamed an NFL playoff game, while Amazon Prime has been streaming Thursday night NFL games since 2022. Netflix, on the other hand, prioritizes sports documentaries, though it has expanded into live sports-adjacent programming. 
Moreover, in February last year, the Cupertino, California-based <a href="https://www.benzinga.com/general/entertainment/23/02/30675248/apple-could-be-betting-on-future-growth-from-sports-how-new-mls-deal-may-help">tech giant also bagged an agreement</a> to stream Major League Baseball games. 
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/general/entertainment/24/04/38345826/get-your-popcorn-ready-6-fresh-releases-to-stream-this-weekend-on-netflix-hulu-and-disney?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">TikTok To Remove Executive Responsible For Allaying US National Security Concerns Amid Rising Regulatory Heat</a>
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