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. This will enable TCO to expand Tengiz crude oil production by an incremental 12 million tons per annum (260,000 barrels a day)

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Chevron announced that its 50% owned affiliate Tengizchevroil has commenced operations at its Wellhead Pressure Management Project at the Tengiz oil field in Kazakhstan, The final phase of TCO's expansion project, is on track to conclude in 1H 2025

Needham analyst Ami Fadia reiterates Biogen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) with a Buy and maintains $294 price target.

Price Target

Reiteration

Analyst Ratings

BIIB

Needham Reiterates Buy on Biogen, Maintains $294 Price Target

Allegion (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLE#NYSE">ALLE</a>) reported quarterly earnings of $1.55 per share which beat the analyst consensus estimate of $1.45 by 6.9 percent. The company reported quarterly sales of $893.900 million which beat the analyst consensus estimate of $884.249 million by 1.09 percent. This is a 3.15 percent decrease over sales of $923.000 million the same period last year.

Earnings

Earnings Beats

ALLE

Allegion Q1 2024 Adj EPS $1.55 Beats $1.45 Estimate, Sales $893.900M Beat $884.249M Estimate

Keefe, Bruyette &amp; Woods analyst Catherine Mealor upgrades Trustmark (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRMK#NASDAQ">TRMK</a>) from Market Perform to Outperform and raises the price target from $30 to $36.

Upgrades

TRMK

Keefe, Bruyette & Woods Upgrades Trustmark to Outperform, Raises Price Target to $36

Mark Zuckerberg, the CEO of Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), has seemingly <a href="https://www.benzinga.com/general/gaming/24/02/37305770/mark-zuckerberg-on-a-mission-to-outdo-apple-vision-pro-meta-ceo-reportedly-eyes-south-korean-colla">taken a dig</a> at Apple Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) Vision Pro.
What Happened: Zuckerberg expressed his skepticism about the mainstream success of augmented reality (AR) glasses, particularly those without &#8220;full holographic displays," in a subtle jab at Apple Vision Pro during Meta&#8217;s <a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding">first-quarter earnings call</a>.
&#8220;Now, it seems pretty clear that there&#8217;s also a meaningful market for fashionable AI glasses without a display."
Meta&#8217;s latest version of Ray-Ban smart glass, <a href="https://www.benzinga.com/general/entertainment/23/09/34964097/watch-mark-zuckerberg-unveils-metas-ai-smart-glasses-that-can-decode-anything-youre-looking">launched in September</a>, starts at $299 and comes with Meta AI, a camera, call-making capabilities, and built-in speakers.
Zuckerberg also emphasized the potential of these glasses as a &#8220;pretty meaningful and growing platform sooner than then I would have expected so.&#8221;
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.
Despite Meta&#8217;s Quest virtual reality headset competing with Apple&#8217;s Vision Pro, Zuckerberg has previously stated that he does not envision a future where people walk around with virtual reality headsets.
See Also: <a href="https://www.benzinga.com/news/24/04/38422652/jensen-huang-hand-delivers-nvidias-first-dgx-h200-gpu-to-openais-sam-altman-to-advance-ai-computing">Jensen Huang Hand-Delivers Nvidia&#8217;s First DGX H200 GPU To OpenAI&#8217;s Sam Altman To &#8216;Advance AI, Computing, And Humanity&#8217;</a>
Why It Matters: This isn&#8217;t the first time Zuckerberg has taken a swipe at the Apple Vision Pro. In February, he <a href="https://www.benzinga.com/general/entertainment/24/02/37116135/mark-zuckerberg-finally-tries-apples-vision-pro-and-says-metas-quest-3-is-the-better-produc">posted a video</a> reviewing Apple&#8217;s competing device, stating that the Quest not only had better value but was also &#8220;the better product period.&#8221;
This was echoed by Meta&#8217;s CTO, Andrew Bosworth, who <a href="https://www.benzinga.com/general/entertainment/24/02/37175237/metas-tech-chief-echoes-zuckerbergs-review-of-apple-vision-pro-says-way-too-much-weight-dis">highlighted several issues</a> with the Vision Pro, dismissing reports about its technological superiority.
In March, Zuckerberg also <a href="https://www.benzinga.com/news/24/03/37616210/mark-zuckerberg-refutes-analysts-claim-quest-not-basically-just-the-same-as-apples-vision-pro">refuted the notion</a> that the Vision Pro was comparable to Meta&#8217;s Quest lineup.
Meanwhile, Apple&#8217;s Vision Pro has been facing challenges, with reports of <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38397921/apple-in-trouble-tim-cook-reportedly-cuts-vision-pro-shipment-forecasts-by-up-to-50">a significant drop in demand</a> leading to a cut in shipment forecasts by up to 50%.
Price Action:&nbsp;Meta stock closed 0.52% lower at $493.50 on Wednesday, according to&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/04/38420928/meta-ceo-mark-zuckerberg-more-than-50-of-the-content-people-see-on-instagram-is-now-ai-recommended" target="_blank" rel="noreferrer noopener">Meta CEO Mark Zuckerberg: ‘More Than 50% Of The Content People See On Instagram Is Now AI Recommended'</a>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Ray-Ban

Tech

AAPL

Mark Zuckerberg Shades Apple Vision Pro Once Again, Calls It 'Fashionable AI Glasses Without A Display'

BHP Group Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>), the world&#8217;s largest mining company, has initiated a bid to acquire rival Anglo American Plc (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AAUKF#OTC">AAUKF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NGLOY#OTC">NGLOY</a>), potentially triggering significant upheaval in the industry after years of dormancy.
Anglo American, valued at £27 billion ($34 billion),&nbsp;<a target="_blank" href="https://www.angloamerican.com/media/press-releases/2024/25-04-2024" rel="noreferrer noopener">disclosed</a>&nbsp;that it had received an unsolicited merger proposal&nbsp;in the form of&nbsp;a stock exchange offer.
The proposed merger is contingent on Anglo divesting its South African platinum and iron ore units.
If successful, this deal would signify a resurgence in large-scale transactions for BHP, which, under CEO Mike Henry, has rekindled its appetite for transformative acquisitions in recent years, according to a report from&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-04-24/bhp-group-is-said-to-weigh-potential-takeover-of-anglo-american?srnd=homepage-asia&amp;sref=TBDibEcD" rel="noreferrer noopener">Bloomberg</a>.
The report further noted that a merger with Anglo would establish the world&#8217;s leading copper producer, positioning itself to meet the surging demand from emerging energy&nbsp;sectors,&nbsp;while potentially attracting other competitors seeking to bolster their output.
Anglo American, long identified as an attractive target among&nbsp;major&nbsp;mining firms, possesses substantial copper operations in South America, a coveted asset in an industry focused on augmenting reserves and production.
Nevertheless, its intricate corporate structure and diverse commodity portfolio,&nbsp;coupled with&nbsp;significant exposure to South Africa,&nbsp;have deterred suitors, as per the report.
BHP produced approximately 1.2 million tons of copper in 2023, while Anglo yielded 826,000 tons, positioning the combined entity to command around 10% of&nbsp;global&nbsp;mine supply.
However, regulatory hurdles loom as governments view copper as a strategic resource, the report mentioned.
Anglo American&nbsp;stated that its board is evaluating the proposal, with no assurance of a forthcoming offer.
BHP&nbsp;stock gained over 3% in the last 12 months. Investors can gain exposure to the stock via Pacer&nbsp;Trendpilot International ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PTIN#NYSE">PTIN</a>) and&nbsp;Avantis International Equity ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVDE#NYSE">AVDE</a>).
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/commodities/24/03/37789877/bhp-to-slash-australian-workforce-as-nickel-market-downturn-continues" rel="noreferrer noopener">BHP To Slash Australian Workforce As Nickel Market Downturn Continues</a>
Price Action: BHP shares are trading lower by 3.12% at $57.39 in premarket at&nbsp;the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

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AAUKF

AVDE

NGLOY

PTIN

World's Largest Miner BHP Bids To Takeover Anglo American As Hunt For Resources Intensify

Needham analyst Ami Fadia reiterates Day One Biopharmaceutical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAWN#NASDAQ">DAWN</a>) with a Buy and maintains $33 price target.

DAWN

Needham Reiterates Buy on Day One Biopharmaceutical, Maintains $33 Price Target

<a href="https://www.bloomberg.com/news/articles/2024-04-25/honda-s-11-billion-electric-vehicle-expansion-includes-government-aid-in-canada?sref=y3YMCJ4e" title="https://www.bloomberg.com/news/articles/2024-04-25/honda-s-11-billion-electric-vehicle-expansion-includes-government-aid-in-canada?sref=y3YMCJ4e">https://www.bloomberg.com/news/articles/2024-04-25/honda-s-11-billion-electric-vehicle-expansion-includes-government-aid-in-canada?sref=y3YMCJ4e</a>

Bloomberg Reported Earlier, Honda's $11B Electric-Vehicle Plan Includes Government Aid From Canada

Goldman Sachs analyst Eric Sheridan maintains Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) with a Buy and lowers the price target from $555 to $500.

Goldman Sachs Maintains Buy on Meta Platforms, Lowers Price Target to $500

Buybacks

TAL Education's Board Of Directors Extend The Share Repurchase Program Launched In April 2021 By Another 12 Months

Goldman Sachs analyst Brooke Roach initiates coverage on Victoria's Secret (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSCO#NYSE">VSCO</a>) with a Sell rating and announces Price Target of $14.

Initiation

VSCO

Goldman Sachs Initiates Coverage On Victoria's Secret with Sell Rating, Announces Price Target of $14

Goldman Sachs analyst Brooke Roach upgrades TJX Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TJX#NYSE">TJX</a>) from Neutral to Buy and raises the price target from $100 to $110.

Goldman Sachs Upgrades TJX Companies to Buy, Raises Price Target to $110

TAL Education (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAL#NYSE">TAL</a>) reported quarterly adjusted earnings of $0.08 per share which beat the analyst consensus estimate of $0.02 by 300 percent. This is a 500 percent increase over losses of $(0.02) per share from the same period last year. The company reported quarterly sales of $429.56 million which beat the analyst consensus estimate of $389.78 million by 10.21 percent. This is a 59.70 percent increase over sales of $268.99 million the same period last year.

TAL Education Q4 Adj $0.08 Beats $0.02 Estimate, Sales $429.56M Beat $389.78M Estimate

Deutsche Bank analyst Scott Deuschle maintains Lockheed Martin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) with a Hold and raises the price target from $467 to $487.

Deutsche Bank Maintains Hold on Lockheed Martin, Raises Price Target to $487

The number of Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) tokens being burnt has significantly decreased over the past week amid a parallel surge in SHIB prices by nearly 15% in the last seven days. 
What Happened: Shibburn, a social media handle on X that tracks the number of SHIB tokens being burnt, reported a 39.90% decline in the number of tokens burnt over the past week. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">HOURLY SHIB UPDATE<a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> Price: $0.00002512 (1hr -0.19% ▼ &#x7C; 24hr -7.56% ▼ ) Market Cap: $14,784,402,651 (-7.62% ▼) Total Supply: 589,273,968,765,110 TOKENS BURNT Past 24Hrs: 22,346,657 (0% ▲) Past 7 Days: 428,035,239 (-39.92% ▼)
&mdash; Shibburn (@shibburn) <a href="https://twitter.com/shibburn/status/1783390532636496063?ref_src=twsrc%5Etfw">April 25, 2024</a></blockquote>
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Over the last 24 hours, 22,346,657 tokens were burned, showing no change from the previous period.
The meme cryptocurrency is currently trading at $0.00002512, marking a 15.01% surge over the past seven days.
The total supply of Shiba Inu tokens is currently at 589,273,968,765,110, with a market cap of $14,784,402,651.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38386424/shiba-inu-whale-accumulates-237b-shib-in-one-transaction-much-in-store-for-the-shib-army-v?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Whale Accumulates 237B SHIB In One Transaction: &#8216;Much In Store For The SHIB Army,&#8217; Vows Lead Developer</a>
Why It Matters: The recent surge in Shiba Inu&#8217;s price comes amid a series of significant developments in the Shiba Inu community.
Just a day ago, a <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38386424/shiba-inu-whale-accumulates-237b-shib-in-one-transaction-much-in-store-for-the-shib-army-v">whale accumulated 237 billion SHIB tokens</a> in a single transaction, signaling confidence in the meme coin&#8217;s performance. This whale activity was accompanied by a 26% weekly surge in Shiba Inu&#8217;s price.
Earlier in the week, Shiba Inu also saw a <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38346682/shiba-inu-army-cheers-as-burn-rate-soars-172-price-rebounds">172% surge in its burn rate</a>, coinciding with a notable rebound in SHIB&#8217;s market price. This increase in token burn rate removed over 5 million SHIB tokens from circulation, sending them to a &#8220;dead&#8221; wallet where they can no longer be traded or accessed.
Price Action: Shiba Inu is currently trading at $0.00002512, reflecting a 7.90% decline in the last 24 hours. The coin has surged over 148% year-to-date. Meanwhile, its primary competitor, Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), is trading at $0.1513, with a 6.66% decline in the last 24 hours and a 68.98% increase year-to-date. 
Comparatively, the king of cryptocurrencies, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), is trading at $64,221.70, showing a 0.05% decline in the last 24 hours and a 45.39% increase year-to-date, according to data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38376705/doge-shiba-and-other-memecoins-fueling-mass-adoption-of-bases-l2-network-coinbase-e?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin, Shiba Inu And Other Memecoins Fueling Mass Adoption Of Base&#8217;s L2 Network, Coinbase Exec Says: &#8216;They Are Going To Be One Of The Biggest Drivers&#8217;</a>
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$SHIB

'Dogecoin Killer' Shiba Inu Burn Rate Drops Over Last 24 Hours, Mirrors Decline In Price

Check Point Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHKP#NASDAQ">CHKP</a>) reported quarterly earnings of $2.04 per share which beat the analyst consensus estimate of $2.01 by 1.49 percent. This is a 13.33 percent increase over earnings of $1.80 per share from the same period last year. The company reported quarterly sales of $598.800 million which beat the analyst consensus estimate of $595.118 million by 0.62 percent. This is a 5.76 percent increase over sales of $566.200 million the same period last year.

CHKP

Check Point Software Q1 2024 Adj EPS $2.04 Beats $2.01 Estimate, Sales $598.800M Beat $595.118M Estimate

Global Autos Analyst Tom Narayan expressed concerns over the decreasing prices of electric vehicles (EVs), which could potentially hinder profitability for automakers.
What Happened: Narayan, during CNBC&#8217;s &#8220;Last Call&#8221; on Wednesday, pointed out that the pricing for EVs seems to be on a downward trend. This could pose a significant challenge for automakers like Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) in achieving profitability in the EV sector. 
He stated, "If pricing keeps coming down it'll be tough to get there."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"The issue here is pricing for EVs looks like it's only going to go lower," says <a href="https://twitter.com/rbccm?ref_src=twsrc%5Etfw">@rbccm</a> Global Autos Analyst Tom Narayan as EV profitability remains elusive for automakers like Ford. "If pricing keeps coming down it'll be tough to get there." <a href="https://twitter.com/search?q=%24F&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$F</a> <a href="https://twitter.com/search?q=%24GM&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GM</a> <a href="https://twitter.com/search?q=%24STLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$STLA</a> <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> <a href="https://t.co/ZHcDEI3cXE">pic.twitter.com/ZHcDEI3cXE</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1783278927928029358?ref_src=twsrc%5Etfw">April 24, 2024</a></blockquote>
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See Also: <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?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Q1 Earnings Preview: Is EV Giant No Longer A &#8216;Growth Stock?&#8217; Analysts Cautious, Want Answers About Robotaxis, Model 2</a>
Why It Matters: Narayan&#8217;s tweet comes in the wake of <a href="https://www.benzinga.com/news/24/04/38423295/ford-cfo-says-ev-price-cuts-bringing-down-revenue-faster-than-company-can-cut-costs-if-the-pricing-s">Ford&#8217;s CFO, John Lawler, expressing concerns</a> over the rapid decrease in revenue due to EV price cuts. Lawler emphasized the company&#8217;s commitment to cost-cutting in its EV segment to counter the losses.
Earlier, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) had also <a href="https://www.benzinga.com/markets/equities/24/04/38348232/tesla-aggressively-cuts-prices-ahead-of-q1-report-ev-maker-lowers-model-3-y-prices-in-china-by-u">announced significant price cuts</a> in all trim levels of its electric vehicles in China, following a round of price cuts in the U.S.
Stellantis NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) CEO Carlos Tavares had previously <a href="https://www.benzinga.com/news/24/01/36705212/stellantis-ceo-cautions-against-cost-reductions-after-tesla-slashes-price-of-its-best-selling-suv-yo">cautioned against price reductions</a> that might risk profitability and potentially make car manufacturers acquisition targets.
Price Action: As of close on Wednesday, Ford shares closed at $13.26, Tesla at $160.55, and Stellantis at $24.95, according to<a href="https://pro.benzinga.com"> Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38374423/elon-musk-reacts-as-ark-invest-analyst-says-its-going-to-be-very-hard-for-tesla-rivals-to-catch-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts As ARK Invest Analyst Says &#8216;It&#8217;s Going To Be Very Hard&#8217; For Tesla Rivals &#8216;To Catch Up To &nbsp;Them&#8217; In Pricing: &#8216;Accurate&#8217;</a>
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Analyst Color

STLA

TSLA

To Lower Or Not? EV Pricing Dilemma Hampers Ford's Profitability, Warns Analyst

Influential analyst Rich Greenfield expressed uncertainty about the monetization of AI chatbots, despite acknowledging Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) as a key player in the crowded AI space.
What Happened: During &#8220;Last Call&#8221; CNBC on Wednesday, Greenfield highlighted that Meta&#8217;s commitment to AI investments comes at a time when the space has become &#8220;crowded&#8221; with competition from ChatGPT by Microsoft and OpenAI, Google Gemini, Anthropic, Perplexity.AI and more. 
"There is no doubt that $META is going to be a major player. I think the challenge for investors is one, how big is this investment cycle, given the level of competition, " Greenfield said.
He highlighted that while Meta&#8217;s investments in their virtual reality unit Reality Labs and their collaboration with Ray-Ban on AR headsets have been huge, these were not as competitive as the AI space.
"It's not so clear right now,&#8221; Greenfield said.
&#8220;Yes, AI is making your recommendations better and AI is making the ads better, the content on Facebook and Instagram is going to be better. But how you actually monetize an AI chatbot&#8230;the use case and the monetization, isn&#8217;t clear. It&#8217;s really early days," Greenfield said, advising investors to learn more about the same.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"This is a very crowded space. There's no doubt that <a href="https://twitter.com/search?q=%24META&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$META</a> is going to be a major player," says <a href="https://twitter.com/RichLightShed?ref_src=twsrc%5Etfw">@RichLightShed</a> on Meta's commitment to AI investments. "It's not so clear right now… how you actually monetize an AI chatbot. The use case and the monetization is not clear." <a href="https://t.co/Zo0Xn5DB1U">pic.twitter.com/Zo0Xn5DB1U</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1783273225603965242?ref_src=twsrc%5Etfw">April 24, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/equities/24/04/38345502/elon-musk-reacts-after-nvidia-stock-plunges-10-and-erases-212b-market-cap-rookie-numbers?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts After Nvidia Stock Plunges 10% And Erases $212B Market Cap: &#8216;Rookie Numbers&#8217;</a>
Why It Matters: Meta&#8217;s focus on AI development has been evident, with CEO Mark Zuckerberg recently <a href="https://www.benzinga.com/markets/equities/24/04/38422805/mark-zuckerberg-shifts-metas-focus-to-ai-agents-over-chatbots-apple-to-pursue-similar-holy-grail">hinting at a shift from chatbots </a>to more advanced AI &#8216;agents&#8217; during the<a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding"> company&#8217;s Q1 2024 earnings call</a>. These AI agents, as per Zuckerberg, would be capable of handling more complex tasks and goals, performing numerous queries to achieve the desired outcome.
Moreover, Zuckerberg revealed that over 50% of the content on Instagram and 30% of posts on Facebook are <a href="https://www.benzinga.com/news/24/04/38420928/meta-ceo-mark-zuckerberg-more-than-50-of-the-content-people-see-on-instagram-is-now-ai-recommended">now recommended by artificial intelligence</a>. This revelation came during Meta's first-quarter financial results announcement, where the company reported a 27% year-over-year increase in revenue, beating Street consensus estimates.
Price Action: Meta&#8217;s stock closed at $493.50 on Wednesday, marking a 15.57% decrease from its previous close. The company&#8217;s Q1 earnings per share stood at $4.710, surpassing the estimated $4.320.
Read Next: <a href="https://www.benzinga.com/news/24/04/38349837/elon-musk-agrees-every-american-household-will-have-a-1-000-per-month-home-robot-in-7-years-time?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Agrees Every American Household Will Have A $1,000-Per-Month Home Robot In 7 Years&#8217; Time</a>
Image Credits &#8211; Shutterstock
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Mark Zuckerberg's Big AI Dreams For Meta 'Not So Clear:' Analyst Questions Profitability Of AI Chatbots

Business&nbsp;Outlook
For the three months ended&nbsp;March 31, 2024, the Company expects its retail transaction volume to be around 3,100 units and wholesale transaction volume to be around 900 units. The Company estimates that its total revenues including retail vehicle sales revenue, wholesale vehicle sales revenue and value-add-services revenue to be within the range of&nbsp;RMB300 million&nbsp;to&nbsp;RMB320 million. The Company expects its&nbsp;gross profit&nbsp;margin to be greater than&nbsp;6.5%. These forecasts reflect the Company&#39;s current and preliminary views on the market and operational conditions, which are subject to changes.

Guidance

UXIN

Uxin Expects Q4 Revenue of RMB300M-RMB320M

Uxin (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UXIN#NASDAQ">UXIN</a>) reported quarterly losses of $(0.01) per share which beat the analyst consensus estimate of $(0.36) by 97.22 percent. The company reported $57.815 million in sales this quarter. This is a 15.25 percent decrease over sales of $68.216 million the same period last year.