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iShares iBonds 2026 Term High Yield and Income ETF

Novartis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>) reported quarterly earnings of $1.80 per share which beat the analyst consensus estimate of $1.67 by 7.78 percent. This is a 16.88 percent increase over earnings of $1.54 per share from the same period last year. The company reported quarterly sales of $11.829 billion which beat the analyst consensus estimate of $11.433 billion by 3.46 percent. This is a 8.68 percent decrease over sales of $12.953 billion the same period last year.

Earnings

Earnings Beats

News

Novartis Q1 2024 Adj EPS $1.80 Beats $1.67 Estimate, Sales $11.829B Beat $11.433B Estimate

Hours after reports of Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) <a href="https://www.benzinga.com/news/24/04/38361822/tesla-layoffs-hit-marketing-team-retracts-advertising-push">laying off its marketing team</a> in the U.S., CEO Elon Musk said the ads made by the team failed to impress him.
What Happened: The CEO concurred with an X user and Tesla enthusiast who said the ads made by the team were rather unimpressive and wrote, &#8220;Exactly. The ads were far too generic – could've been any car.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Exactly. The ads were far too generic – could've been any car.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1782436262881661053?ref_src=twsrc%5Etfw">April 22, 2024</a></blockquote>
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Musk&#8217;s comment comes on the heel of a Bloomberg report that the EV giant has removed its newly formed marketing team as part of the <a href="https://www.benzinga.com/news/24/04/38244436/breaking-tesla-said-to-be-laying-off-over-14-000-employees">10% companywide layoff </a>announced last week. The report noted that the entirety of the team in the U.S., including senior manager Alex Ingram, were eliminated. 
Trial And Error: Musk first expressed <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/05/32439283/tesla-bulls-cheer-elon-musks-decision-to-try-some-advertising-it-could-be-amazingly">willingness to try traditional advertising</a> less than a year ago in May 2023. Until then, the company boasted of spending almost no money on advertising but became popular purely via word of mouth.
Since then, Tesla has attempted advertising on different platforms including YouTube, X, and even Meta Platforms&#8217; Instagram, and Facebook <a href="https://www.benzinga.com/news/24/03/37908129/facebook-isnt-lame-for-musk-anymore-tesla-rejoins-zuckerbergs-social-media-platform-after-ghosting-i">despite Musk&#8217;s past criticism of them</a>. 
However, in January, Tesla executives clarified during the fourth-quarter earnings call that while the lack of awareness impacted EV adoption, the company would not spend too much on advertising and marketing but instead spend it in areas and geographies where the company has low market share such as Japan. 
Analyst Take: Not all Tesla analysts favor this strategy of low advertising investment. The Future Fund Managing Partner Gary Black has often criticized Tesla&#8217;s attempts at driving sales via price cuts that weigh heavily on the company&#8217;s margins. Black recommends advertising instead. 
Even on Monday, Black reiterated that educating combustion engine vehicle owners on the perks of EVs via advertising is &#8220;badly needed&#8221; to drive sales. &#8220;Anyone can cut price. It's a blunt inefficient tool,&#8221; Black added. 
Anti-Tesla Advertising: While Musk has been sidestepping advertising, anti-Tesla crusaders have been going all in. 
The Dawn Project, <a href="https://www.benzinga.com/news/23/10/35125361/exclusive-dawn-projects-dan-odowd-warns-teslas-terrible-fsd-could-be-banned-blames-musk-for-coordina" target="_blank" rel="noreferrer noopener">founded by tech billionaire</a> Dan O'Dowd, released two ads at the Super Bowl championship earlier this year alleging that Tesla failed to act despite the group flagging multiple concerns about the safety of its full self-driving (FSD) driver assistance software and urged for a boycott of the company.
"When you buy a new Tesla you are financing and enabling Elon Musk to put a dangerous, unfinished, product on our public roads," O'Dowd <a href="https://www.benzinga.com/news/24/02/37085404/tesla-boycott-superbowl-ad-earns-regulators-ire-did-not-grant-permission-to-use-the-ntsb-seal">said in a statement</a> then. 
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/news/24/04/38351810/tesla-fsd-is-now-nearly-50-cheaper-than-when-elon-musk-called-it-very-low-just-under-a-year-ago">Tesla FSD Is Now Nearly 50% Cheaper Than When Elon Musk Called It &#8216;Very Low&#8217; Just Under A Year Ago</a>
Image made via pictures on Shutterstock

Tech

TSLA

Elon Musk Admits Tesla Ads Were 'Far Too Generic' After Laying Off US Marketing Team: 'Could've Been Any Car'

Controladora Vuela (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLRS#NYSE">VLRS</a>) reported quarterly earnings of $0.29 per share which beat the analyst consensus estimate of $(0.18) by 261.11 percent. This is a 147.54 percent increase over losses of $(0.61) per share from the same period last year. The company reported quarterly sales of $768.000 million which beat the analyst consensus estimate of $694.633 million by 10.56 percent. This is a 5.06 percent increase over sales of $731.000 million the same period last year.

VLRS

Controladora Vuela Q1 2024 GAAP EPS $0.29 Beats $(0.18) Estimate, Sales $768.000M Beat $694.633M Estimate

<ul>
<li>JD Sports to acquire all outstanding shares for&nbsp;$87.50&nbsp;per share in cash, in a&nbsp;$1.1 billion&nbsp;transaction</li>
<li>Per share price represents a&nbsp;21%&nbsp;premium to the April 22, 2024, closing price and a&nbsp;29%&nbsp;premium to the 120-trading day volume weighted average price</li>
<li>Combination of best-in-class customer-centric companies offers brand partners an expanded global platform for distribution of the latest athletic fashion products</li>
<li>Mike Longo to continue as Hibbett President and CEO, and Jared Briskin to take on role of Hibbett COO; Hibbett will maintain HQ in Birmingham</li>
</ul>

HIBB

JDSPY

Hibbett Agrees To Be Acquired By JD Sports Fashion For $87.50 Per Share In Cash, Amounting To ~$1.1B

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>
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 
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Equities

Options

Markets

Media

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>
Photo via Shutterstock
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 Engineered by Benzinga Neuro, Edited by 
 <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Pooja Rajkumari</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.

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>
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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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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"> 
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<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>
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 <a href="None" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none"> 
 Kaustubh Bagalkote</a> 
 
 
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