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In a recent statement, Kim Yo Jong, sister of North Korean leader Kim Jong Un, announced that North Korea is committed to strengthening its military power to safeguard its sovereignty and ensure regional peace.
What Happened: Kim Yo Jong condemned the U.S. military&#8217;s series of exercises in the region this year, beginning with live-fire drills conducted with South Korea, which she labeled as a cause of regional instability, Reuters reported on Wednesday. She referred to the South Korean military as &#8220;puppet military gangsters.&#8221;
&#8220;We will continue to build overwhelming and the most powerful military power to safeguard our sovereignty, security and regional peace,&#8221; she was quoted as saying by the North&#8217;s KCNA news agency.
The U.S. and South Korean militaries have been conducting a series of drills with increased scale and intensity in recent months, under a pledge by both countries&#8217; leaders to enhance military readiness against North Korea&#8217;s threats.
See Also: <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>
About 100 military aircraft conducted two-week-long aerial drills this month, according to South Korea&#8217;s military. North Korea views these U.S. military exercises as preparations for a nuclear war against it, while Washington and Seoul maintain that the drills are defensive and conducted regularly to maintain readiness.
Why It Matters: This announcement comes on the heels of a series of events that have escalated tensions in the region. Earlier this year, North Korea conducted its fourth missile test,<a href="https://www.benzinga.com/news/24/04/38358710/kim-jong-uns-north-korea-conducts-fourth-missile-test-in-2024-alarms-south-korea-japan"> raising alarms in South Korea</a> and Japan. The missile was suspected to be a ballistic one, capable of deploying a hypersonic glide vehicle for delivering a nuclear payload.
In response to North Korea&#8217;s actions, the United States, South Korea, and Japan proposed the creation of a <a href="https://www.benzinga.com/news/24/04/38290092/us-and-asian-allies-propose-new-panel-to-monitor-sanctions-imposed-on-kim-jong-uns-north-korea">new body to oversee sanctions</a> enforcement. This initiative was proposed to maintain international pressure on North Korea.
Kim Yo Jong&#8217;s recent statement echoes her previous criticisms of the U.S., as <a href="https://www.benzinga.com/news/23/06/32663578/kim-jong-uns-powerful-sister-berates-us-for-gangster-like-hypocrisy-after-north-koreas-failed-spy-sa">she had slammed the U.S</a>. for &#8220;gangster-like&#8221; hypocrisy after North Korea&#8217;s failed military spy satellite launch in 2023.
Read Next: <a href="https://www.benzinga.com/news/24/04/38350223/us-base-in-syria-targeted-by-rockets-fired-from-iraq-washington-strikes-back-report?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">US Base In Syria Targeted By Rockets Fired From Iraq, Washington Strikes Back: Report</a>
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Kim Jong Un's Sister Pledges To Build North Korea's 'Overwhelming' Military Power Amid Rising Regional Tensions

Paul Krugman, a prominent American economist, has weighed in on the current inflation debate, citing a recent survey by the Atlanta Federal Reserve that suggests stable inflation expectations.
What Happened: On Sunday, Krugman took to social media platform X to share his thoughts on the matter. He wrote, &#8220;Is inflation taking off again? Businesses don&#8217;t think so: Atlanta Fed survey shows inflation expectations stable at slightly above 2 percent.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Is inflation taking off again? Businesses don&#39;t think so: Atlanta Fed survey shows inflation expectations stable at slightly above 2 percent <a href="https://t.co/T8XdRP7oYq">pic.twitter.com/T8XdRP7oYq</a>
&mdash; Paul Krugman (@paulkrugman) <a href="https://twitter.com/paulkrugman/status/1782892538619204049?ref_src=twsrc%5Etfw">April 23, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/24/04/38350894/billionaire-investor-ray-dalio-is-sticking-with-gold-as-a-hedge-against-inflation-history-and-logic?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Billionaire Investor Ray Dalio Is Sticking With Gold As A Hedge Against Inflation: &#8216;History And Logic Sho</a>
Why It Matters: Krugman&#8217;s comments come at a time when the topic of inflation is a major concern for the market. The <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38389508/did-the-feds-strategy-pay-off-goldman-sachs-projects-steady-inflation-decline-in-20">Federal Reserve&#8217;s strategy</a> and the impact of government spending on inflation have been hotly debated. Former Dallas Fed President Robert Kaplan recently suggested that government spending was contributing to sustained inflation, making rate cuts unadvisable.
However, Goldman Sachs economist Jessica Rindels has predicted a decline in the core Personal Consumption Expenditure (PCE) Inflation for the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38389508/did-the-feds-strategy-pay-off-goldman-sachs-projects-steady-inflation-decline-in-20">rest of the year</a>, attributing the recent inflation increases to transient factors.
Meanwhile, the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38381361/us-private-sector-growth-unexpectedly-slows-in-april-marks-lowest-increase-in-4-mon">latest data on U.S. private sector activity</a> indicates a significant and unexpected slowdown in growth, marking the softest expansion since December. This slowdown has been accompanied by a welcome moderation in the rates of increase for selling prices in both goods and services.
Notably, the drivers of inflation have changed. Manufacturing has now registered a steeper rate of price increases in three of the past four months, with factory cost pressures intensifying in April amid higher raw material and fuel prices, contrasting with the wage-related, services-led price pressures seen throughout much of 2023,&#8221; Chris Williamson, chief business economist at S&amp;P Global Market Intelligence stated.
Contrasting Krugman&#8217;s views, economist Peter Schiff cautioned in March that despite the Federal Reserve&#8217;s signaling of three <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/38013652/peter-schiff-warns-of-far-more-devastating-outcome-than-2008-global-financial-crisi">potential rate cuts</a> this year under Jerome Powell&#8217;s leadership, the central bank&#8217;s thinking might be erroneous, especially with the annual rate of personal consumption expenditure index ticking up.
Read Next: <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?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Peter Schiff Warns Against Piling &#8216;Risk Assets&#8217; Like Tech Stocks And Bitcoin Amid Inflation Concerns: &#8216;In</a>
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Economics

'Is Inflation Taking Off Again?' Paul Krugman Dismisses Fears, Citing Atlanta Fed Survey

The U.S. Congress has finally approved a comprehensive&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/03/37656991/ukraine-to-receive-300-million-in-us-military-aid-as-battle-with-russia-intensifies" rel="noreferrer noopener">foreign aid package</a>, totaling $95 billion, for Ukraine, Israel, and Taiwan, in a move to counter Russia&#8217;s ongoing invasion of Ukraine.
What Happened: The Senate passed four bills on Tuesday, with a vote of 79-18, that were previously approved by the House of Representatives, reported Reuters. The bills encompass mostly military aid for Ukraine, Israel, Taiwan, and U.S. partners in the Indo-Pacific.
The package includes a $61 billion allocation for Ukraine, $26 billion for Israel, and humanitarian aid for civilians in conflict zones globally. It also sets aside $8.12 billion to &#8220;counter communist China&#8221; in the Indo-Pacific. A fourth bill, added by the House last week, includes potential bans on the Chinese-controlled social media app TikTok, measures for the transfer of seized Russian assets to Ukraine, and new sanctions on Iran.
The aid package is expected to be signed into law by President&nbsp;Joe Biden&nbsp;on Wednesday. The bills were combined into one package in the Senate.
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/best-aerospace-defense-stocks" rel="noreferrer noopener">Best Aerospace and Defense Stocks</a>
Ukrainian President&nbsp;Volodymyr Zelenskiy&nbsp;expressed gratitude to U.S. lawmakers for approving the &#8220;vital&#8221; aid for Ukraine, emphasizing the reinforcement of America&#8217;s role as a beacon of democracy and the leader of the free world.
Both Democratic and Republican leaders in the Senate anticipate that the aid package will send a clear message to Russian President&nbsp;Vladimir Putin&nbsp;and other foreign adversaries that the U.S. will continue to support Ukraine and its partners.
Why It Matters: The approval of the aid package comes amid&nbsp;<a target="_blank" href="https://www.benzinga.com/24/04/38349780/russia-foresees-humiliating-fiasco-for-us-in-ukraine-support-kremlin-drops-vietnam-and-afghanistan-r" rel="noreferrer noopener">warnings from the Kremlin</a>&nbsp;that the U.S. support for Ukraine could result in a &#8220;humiliating fiasco,&#8221; drawing parallels with Vietnam and Afghanistan. The aid package also includes measures for the transfer of seized Russian assets to Ukraine, a move that&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38376263/russia-threatens-retaliation-over-potential-seizure-of-frozen-assets-to-aid-ukraine" rel="noreferrer noopener">Russia has threatened to retaliate against</a>.
The approval of this aid package is a significant step in the U.S.&#8217;s response to Russia&#8217;s invasion of Ukraine and its broader geopolitical strategy in the Indo-Pacific.
Read Next: <a href="https://www.benzinga.com/news/24/04/38394855/biden-set-to-sign-tiktok-ban-into-law-after-senate-passes-bill-supported-by-gop-democrats" target="_blank" rel="noreferrer noopener">Biden Set To Sign TikTok Ban Into Law After Senate Passes Bill Supported By GOP, Democrats</a>
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Media

US Congress Finally Passes $95B Foreign Aid Bill For Ukraine, Israel, Taiwan Amid Simmering Russian Aggression

Norsk Hydro (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NHYDY#OTC">NHYDY</a>) reported quarterly earnings of $0.09 per share which met the analyst consensus estimate. This is a 48.24 percent decrease over earnings of $0.17 per share from the same period last year. The company reported quarterly sales of $4.522 billion which missed the analyst consensus estimate of $4.829 billion by 6.36 percent. This is a 4.76 percent decrease over sales of $4.748 billion the same period last year.

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Norsk Hydro Q1 2024 Adj. EPS $0.09, Inline, Sales $4.522B Miss $4.829B Estimate

Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Vice President of Investor Relations Martin Viecha announced his decision to resign from the company during its first-quarter earnings call on Tuesday. The update follows the departure of <a href="https://www.benzinga.com/news/24/04/38265084/did-someone-get-promoted-at-tesla-amid-layoffs-autopilot-heads-x-badge-change-sparks-talk-of-leaders" target="_blank" rel="noreferrer noopener">two other senior executives</a> from the EV giant.
What Happened: Viecha revealed his resignation toward <a href="https://www.benzinga.com/markets/equities/24/04/38395406/teslas-strategic-pivot-post-q1-gets-a-thumbs-up-from-ross-gerber-wedbushs-dan-ives-lauds-elon-mu">the end of the call</a>, mentioning that he had met with CEO Elon Musk and CFO Vaibhav Taneja about a month before discussing his decision. Although Viecha did not provide specific details about his plans, he expressed his intention to take a break and spend quality time with his family.
&#8220;I&#8217;ll be hanging around for another couple of months or so. So, feel free to reach out at any time. But after the seven-year sprint,&nbsp;I&#8217;m going to&nbsp;be taking a break and spending some good quality time with my family,&#8221; he stated. While Viecha did not specify his departure timeline, he indicated that he would not participate in the next quarter&#8217;s earnings call, likely scheduled for July.
&#8220;Looking forward to the call in the next three months, but I&#8217;ll be on the other side, listening in,&#8221; he added.
Why It Matters:&nbsp;Viecha has been Tesla&#8217;s VP of Investor Relations for nearly seven years,&nbsp;having joined&nbsp;the EV maker in October 2017. Musk expressed gratitude for Viecha&#8217;s contributions to the company, highlighting his exceptional analysis of Tesla.
&#8220;The reason&nbsp;I reached out to you&nbsp;was&nbsp;because I thought your analysis of Tesla was the best that I had seen.&nbsp;Yes, thank you for helping Tesla to get to where it is today over seven years. It&#8217;s been a pleasure working with you,&#8221; Musk said.
Viecha&#8217;s resignation marks the third high-profile exit from Tesla in two weeks, following the recent layoffs affecting over&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38244436/breaking-tesla-said-to-be-laying-off-over-14-000-employees" rel="noreferrer noopener">10% of its global workforce</a>&nbsp;and the departures of senior executives&nbsp;Drew Baglino&nbsp;and&nbsp;Rohan Patel.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:&nbsp;<a href="https://www.benzinga.com/news/24/04/38370123/elon-musk-admits-tesla-ads-were-far-too-generic-after-laying-off-us-marketing-team-couldve-been-any">Elon Musk Admits Tesla Ads Were &#8216;Far Too Generic&#8217; After Laying Off US Marketing Team: &#8216;Could&#8217;ve Been Any Car&#8217;</a>
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Tesla's High-Profile Departures Continue As Investor Relations Head Martin Viecha Bids Farewell After 7-Year Run

Let&#8217;s face it, anxiety is a tricky beast that can pop up at the most inconvenient times. Whether it's the Sunday scaries or a random wave of worry, having quick and effective strategies to kick anxiety to the curb is crucial. As someone who's navigated the choppy waters of anxiety, I&#8217;ve found a few personal hacks that help me regain my calm swiftly. Here are my top five go-to moves when I need to dial down the distress, pronto!
1. Deep Breathing Exercises
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233549/image-169-1024x585.png" alt="" class="wp-image-305585" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233549/image-169-1024x585.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233549/image-169-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233549/image-169-768x439.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233549/image-169-1536x878.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233549/image-169.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Deep breathing helps me in regulating my heart rate when I&#8217;m overcome with anxiety, Image Generated Via Dall-E</figcaption></figure>
Never underestimate the power of breathing! When anxiety hits, I take a minute to focus solely on my breath. I practice the 4-7-8 breathing technique — breathe in for 4 seconds, hold for 7 seconds, and exhale slowly for 8 seconds. This not only helps in regulating my heart rate but also shifts my focus from anxious thoughts to my breathing pattern.
2. Listen to a Calming Playlist
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233552/image-170-1024x585.png" alt="" class="wp-image-305586" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233552/image-170-1024x585.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233552/image-170-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233552/image-170-768x439.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233552/image-170-1536x878.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233552/image-170.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Listening to a calming playlist is a great way to battle anxiety, Image Generated Via Dall-E</figcaption></figure>
Music is my sanctuary! I have a special playlist loaded with tunes that soothe my soul. Whether it&#8217;s the soft strumming of an acoustic guitar or the tranquil sound of ocean waves, the right music can transport me from a state of panic to peace in just a few notes.
3. A Quick Walk Outside
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233602/image-171-1024x585.png" alt="" class="wp-image-305587" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233602/image-171-1024x585.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233602/image-171-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233602/image-171-768x439.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233602/image-171-1536x878.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233602/image-171.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Changing your environment by taking a quick five minute walk can help with anxiety, Image Generated Via Dall-E</figcaption></figure>
Changing your environment can change your perspective. When anxiety starts creeping in, I lace up my sneakers and step outside. A brisk five-minute walk not only helps in clearing my mind but also boosts endorphins, improving my mood and decreasing feelings of anxiety.
4. Journaling My Thoughts
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233615/image-172-1024x585.png" alt="" class="wp-image-305588" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233615/image-172-1024x585.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233615/image-172-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233615/image-172-768x439.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233615/image-172-1536x878.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233615/image-172.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Journaling your thoughts is an antidote for anxiety that works for me, Image Generated Via Dall-E</figcaption></figure>
Writing down what&#8217;s on my mind is incredibly therapeutic. It helps me organize my thoughts and sometimes even see the irrationality of my worries. A quick scribble in my journal acts like a pressure valve for my anxiety, releasing the tension in a healthy way.
5. Practice Mindfulness or Meditation
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233619/image-173-1024x585.png" alt="" class="wp-image-305589" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233619/image-173-1024x585.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233619/image-173-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233619/image-173-768x439.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233619/image-173-1536x878.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/23233619/image-173.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Meditation is a game-changer when it comes to anxiety, Image Generated Via Dall-E </figcaption></figure>
Meditation has been a game changer for me. Taking even just a few minutes to sit quietly and meditate can make a significant difference. It's about bringing myself into the present moment and quieting the noise in my head. Apps like Headspace or Calm have guided sessions that are perfect for quick anxiety relief.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38348747/not-something-steve-jobs-would-probably-do-gurman-says-apple-should-go-against-the-grain-and-low?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Not Something Steve Jobs Would Probably Do&#8217;: Gurman Says Apple Should Go Against The Grain And Lower iPhone&#8217;s Price Point</a> Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Entertainment

5 Things That Helped Me Deal With My Anxiety Because Life Is Hard As It Is

Ross Gerber, CEO of Gerber Kawasaki Wealth, supports Tesla Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) strategy shift post-Q1 results, while Dan Ives praised Elon Musk&#8216;s leadership. Despite a revenue dip, Tesla&#8217;s shares rise on new model plans.
What Happened: Despite Tesla&#8217;s disappointing Q1 results, Gerber is optimistic about the company&#8217;s future. He shared his thoughts on Tesla&#8217;s new direction in an interview with CNBC&#8217;s Last Call. 
&#8220;As long as Tesla shareholders are fine with a much less profitable version of the company then this vision works fine,&#8221; Gerber said. &#8220;There&#8217;s a difference between owning a Tesla, buying a Tesla and being a shareholder,&#8221; Gerber added.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&quot;As long as <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> shareholders are fine with a much less profitable version of the company then this vision works fine,&quot; says <a href="https://twitter.com/GerberKawasaki?ref_src=twsrc%5Etfw">@GerberKawasaki</a> following <a href="https://twitter.com/hashtag/Tesla?src=hash&amp;ref_src=twsrc%5Etfw">#Tesla</a>&#39;s Q1 results. &quot;There&#39;s a difference between owning a Tesla, buying a Tesla and being a shareholder.&quot; <a href="https://t.co/FDKQSu8uoV">pic.twitter.com/FDKQSu8uoV</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1782912002660172252?ref_src=twsrc%5Etfw">April 23, 2024</a></blockquote>
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Meanwhile, Dan Ives, an analyst at Wedbush, praised Tesla CEO&#8217;s leadership. He said, &#8220;Tesla needed an adult in the room, and Elon Musk was the adult in the room.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&quot;Tesla needed an adult in the room, and <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> was the adult in the room,&quot; says <a href="https://twitter.com/DivesTech?ref_src=twsrc%5Etfw">@divestech</a> as shares of Tesla surge following a renewed push for affordable models. <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> <a href="https://t.co/triAAGBwuq">pic.twitter.com/triAAGBwuq</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1782910640677331119?ref_src=twsrc%5Etfw">April 23, 2024</a></blockquote>
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Tesla <a href="https://www.benzinga.com/news/earnings/24/04/38390883/tesla-q1-earnings-highlights-ev-giant-misses-wall-street-estimates-makes-cost-cuts-invests-in-ai-sp">reported</a> a 9% year-over-year revenue drop to $21 billion in Q1, missing the Street&#8217;s consensus estimate of $22.15 billion. Despite this, the company&#8217;s shares surged after announcing plans to accelerate the launch of new models, including more affordable options and a next-generation platform.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38348301/bitcoin-halving-elon-musks-dogecoin-tweet-solanas-rise-and-more-this-week-in-cryptocurrenc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Halving, Elon Musk&#8217;s Dogecoin Tweet, Solana&#8217;s Rise And More: This Week In Cryptocurrency</a>
Gerber had previously voiced concerns about Tesla&#8217;s future, predicting a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38372928/tesla-isnt-growing-investor-ross-gerber-predicts-bad-q1-earnings-and-pokes-holes-in">challenging earnings report</a> and questioning the company&#8217;s growth strategy. However, he now seems to be on board with the new direction Tesla is taking.
Why It Matters: The recent surge in Tesla&#8217;s stock price despite the &#8220;ugly&#8221; Q1 results can be attributed to the company&#8217;s announcement of an <a href="https://www.benzinga.com/news/earnings/24/04/38394792/tesla-stock-surges-despite-ugly-q1-results-heres-why">accelerated new model launch</a>. This shift in strategy seems to have won over prominent investor Ross Gerber, who had previously expressed concerns about Tesla&#8217;s growth strategy.
Gerber&#8217;s support for Tesla&#8217;s new direction comes after he <a href="https://www.benzinga.com/markets/equities/24/04/38306906/tesla-boards-credibility-at-stake-with-56b-elon-musk-pay-package-vote-says-ross-gerber-super-gra">questioned the credibility of the Tesla board</a> in a recent interview. His latest comments indicate a shift in sentiment, suggesting that Tesla&#8217;s strategic changes have the potential to reshape the company&#8217;s future.
The statement from Ives is a significant turnaround from his previous criticism of Musk. Just a week ago, Ives had demanded <a href="https://www.benzinga.com/markets/equities/24/04/38262559/the-street-wants-and-needs-answers-from-elon-musk-on-tesla-layoffs-dan-ives-demands-rationale-fo">answers from Musk regarding Tesla&#8217;s layoffs</a>. He had called for a clear rationale for the cost-cutting measures, especially in light of a challenging quarter for the electric vehicle giant.
Price Action: In after-hours trading, Tesla shares surged by 13.38%, currently priced at $144.61, reflecting a 1.80% increase from Tuesday&#8217;s close. Despite these fluctuations, Tesla&#8217;s shares have experienced a year-to-date decline of 41.79%, according to the data&nbsp;<a href="https://www.benzinga.com/pro/" target="_blank" rel="noreferrer noopener">from Benzinga Pro</a>.
Read Next: <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>
Image Via Shutterstock 
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Equities

Tesla's Strategic Pivot Post-Q1 Gets A Thumbs Up From Ross Gerber, Wedbush's Dan Ives Lauds Elon Musk's Leadership

Tesla Inc. (NASDA: TSLA) CEO&nbsp;Elon Musk hinted at the possibility of the <a href="https://www.benzinga.com/news/24/03/37949165/tesla-hiring-another-key-role-for-optimus-humanoid-robot-could-highly-anticipated-launch-be-nearing">company&#8217;s humanoid robot</a>, Optimus, being available for sale&nbsp;externally by the end of&nbsp;2025.
What Happened: On Tuesday, <a href="https://www.benzinga.com/news/earnings/24/04/38390883/tesla-q1-earnings-highlights-ev-giant-misses-wall-street-estimates-makes-cost-cuts-invests-in-ai-sp">during Tesla&#8217;s first-quarter conference call</a>, Musk was asked about the current status of Optimus and when mass production is expected to commence. 
In response, the entrepreneur revealed that the company is making significant progress with Optimus and anticipates limited production to begin by the end of 2024, with external sales potentially starting by the end of 2025.
&#8220;We are able to do&nbsp;simple factory tasks or at&nbsp;least, I should say, factory&nbsp;tasks in the lab. We&nbsp;do think we will have Optimus in limited production in&nbsp;the natural factory itself, doing&nbsp;useful tasks before the end&nbsp;of this year. And then&nbsp;I think we may be&nbsp;able to sell it externally&nbsp;by the end of next&nbsp;year. These are just guesses,&#8221; Musk said during the call.
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The Tesla CEO also highlighted the potential significance of Optimus, stating, &#8220;I think Optimus will be&nbsp;more valuable than everything else&nbsp;combined. Because if you&#8217;ve got&nbsp;a sentient humanoid robots that&nbsp;is able to navigate reality&nbsp;and do tasks at request, there is no meaningful limit&nbsp;to the size of the&nbsp;economy.&#8221;
Why It Matters: This announcement comes on the heels of Tesla&#8217;s&nbsp;first-quarter financial results, which showed a 9% year-over-year decrease in revenue, missing the Street consensus estimate, according to&nbsp;<a href="https://www.benzinga.com/pro/feature/newsfeed?gspk=bHVrZWphY29iaTUzNDg&amp;gsxid=tdEE0VrK8Jeg&amp;ref=lukejacobi5348" target="_blank" rel="noreferrer noopener">data from Benzinga Pro.</a> 
The company stated that revenue was affected by decreased average selling prices and reduced vehicle deliveries during the quarter.
Meanwhile, last month Musk spoke about the cost efficiency of manufacturing Optimus, stating that it costs the company only half as much as making a car. At the time, Musk verified to a user on X, formerly Twitter, that initially, the Optimus will be <a href="https://www.benzinga.com/news/24/03/37950895/elon-musk-says-cost-of-making-an-optimus-is-half-that-of-manufacturing-a-tesla-ev-despite-complexity">priced between $25,000 and $30,000</a>, with subsequent reductions over time.
Photo courtesy: Shutterstock
Check out more of Benzinga'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/24/04/38349837/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>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Elon Musk Says Tesla Optimus Humanoid Robot Might Be Available Externally By The End Of Next Year: Here's The Progress Report

Macro Economic Events

Econ #s

Reported Earlier, Australia Trimmed Mean Consumer Price Index (QoQ) (Q1) 1.0% Vs. 0.8% Est.; 0.8% Prior

Reported Earlier, Australia Consumer Price Index (QoQ) (Q1) 1.0% Vs. 0.8% Est.; 0.6% Prior

Reported Earlier, Australia Consumer Price Index (YoY) (Q1) 3.6% Vs. 3.4% Est.; 4.1% Prior

Crypto trader Kevin has shared his bullish outlook on Dogecoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) performance against Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), noting the cryptocurrency&#8217;s consolidation in the golden pocket and its position above all bull market up trending moving averages.
What Happened: On Tuesday, Kevin, formerly known as OG_Yomi On X, posted his analysis of the <a href="https://twitter.com/Kev_Capital_TA/status/1782950223863599319">#Dogecoin vs #BTC</a> chart. He observed that Dogecoin is currently consolidating in the golden pocket while sitting above all bull market up trending MA&#8217;s. He expressed optimism about Dogecoin&#8217;s potential to outperform Bitcoin if it can maintain its current position.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If we take a close look at the <a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> vs <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> chart we&#39;re currently consolidating in the golden pocket while sitting above all bull market up trending MA&#39;s. This is a very good sign if we can hold it in terms of seeing <a href="https://twitter.com/hashtag/DOGE?src=hash&amp;ref_src=twsrc%5Etfw">#DOGE</a> out performing BTC from here on out. Send this dog… <a href="https://t.co/Nvd2LBzETu">pic.twitter.com/Nvd2LBzETu</a>
&mdash; Kevin (@Kev_Capital_TA) <a href="https://twitter.com/Kev_Capital_TA/status/1782950223863599319?ref_src=twsrc%5Etfw">April 24, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38348301/bitcoin-halving-elon-musks-dogecoin-tweet-solanas-rise-and-more-this-week-in-cryptocurrenc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Halving, Elon Musk&#8217;s Dogecoin Tweet, Solana&#8217;s Rise And More: This Week In Cryptocurrency</a>
Notably, Dogecoin has already outperformed Bitcoin in terms of year-to-date gains. The meme coin has given 82.8% gains so far in 2024, while Bitcoin has returned 57.5% in the same period.
Why It Matters: Kevin&#8217;s tweet comes in the wake of a recent Benzinga article in which Yomi shared his insights on Dogecoin&#8217;s <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38241856/dogecoins-road-to-the-golden-cross-crypto-analyst-shares-his-take-on-bull-market-milestone">anticipated Golden Cross</a>. Despite two consecutive red weeks causing a slight deviation, the cryptocurrency is still several weeks of upward price action away from achieving this bull market milestone.
Moreover, a pseudonymous cryptocurrency trader, Vapor, recently predicted that at <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38383807/trader-predicts-at-least-3-meme-coins-above-100b-market-cap-heres-which-coins-benzinga-fol">least three meme coins</a> will achieve a market cap above $100B, as noted in a Benzinga report. This growing prominence of meme coins in the digital asset space underscores Kevin&#8217;s bullish outlook on Dogecoin.
Price Action: At the time of writing, Dogecoin traded 1.9% higher at $0.16, while Bitcoin was down by 0.2% at $66,613.80, according to <a href="https://www.benzinga.com/pro/feature/newsfeed?gspk=bHVrZWphY29iaTUzNDg&amp;gsxid=tdEE0VrK8Jeg&amp;ref=lukejacobi5348">data from Benzinga Pro.</a>
Photo Courtesy: Shutterstock.com
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38387650/dogecoin-and-elon-musk-in-one-animation-but-this-trader-suggests-to-short-doge-at-0-18-to-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin And Elon Musk In One Animation But This Trader Suggests To Short DOGE At $0.18 To $0.20</a>
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$BTC

$DOGE

Dogecoin Could Outperform Bitcoin Thanks To Consolidation In The Golden Pocket, Says Trader: 'This Is A Very Good Sign'

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has announced a timeline for the production of its electric semi-truck, with the first vehicles expected to roll out from a new factory by 2026.
What Happened: During the company&#8217;s first-quarter earnings call on Tuesday, Lars Moravy, Vice President of Vehicle Engineering, revealed the plans for the Tesla Semi.
Moravy stated that the engineering for the semi-truck is being finalized to enable high-volume production, drawing from the company&#8217;s fleet and pilot fleet experiences, including those with PepsiCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>). The construction of a factory in Reno has already commenced.
Moravy said that the first &#8220;external customers&#8221; are expected in 2026.
The Tesla Semi is a fully electric semi-truck with advanced safety features, a long range, and a spacious interior designed for maximum visibility.
See Also: <a href="https://www.benzinga.com/24/04/38349246/should-have-sold-our-entire-tsla-position-says-fund-manager-following-ev-giants-coordinated-global-p?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Should Have Sold Our Entire $TSLA Position,&#8217; Says Fund Manager, Following EV Giant&#8217;s Coordinated Global Price Cuts Over Weekend</a>
Why It Matters: The Tesla Semi has been making significant strides in recent times. In January, <a href="https://www.benzinga.com/news/24/01/36796670/pepsico-says-its-tesla-semi-surpassed-1-000-miles-in-single-day-haul">PepsiCo revealed</a> that its Tesla Semi had covered over 1,000 miles in a single day, demonstrating the truck&#8217;s capabilities and efficiency.
In April, Tesla&#8217;s Senior Manager of Semi truck engineering, Dan Priestley, endorsed the Environmental Protection Agency&#8217;s (EPA) stricter Phase-3 emission standards for <a href="https://www.benzinga.com/government/24/04/38039010/tesla-semi-ready-to-replace-diesel-trucks-says-unit-head-as-he-cheers-epas-tough-new-standards">heavy-duty vehicles</a>, asserting that the Tesla Semi is ready to replace diesel trucks.
Despite <a href="https://www.benzinga.com/news/earnings/24/04/38394792/tesla-stock-surges-despite-ugly-q1-results-heres-why">disappointing Q1 results</a>, Tesla&#8217;s stock surged after the company announced plans to accelerate the launch of new models. This includes the Tesla Semi, which is now set to enter production ahead of schedule.
Price Action: According to the data&nbsp;<a href="https://www.benzinga.com/pro/" target="_blank" rel="noreferrer noopener">from Benzinga Pro</a>, Tesla shares are currently priced at $144.61, reflecting a 1.80% increase from Tuesday's closing price. Notably, in after-hours trading, the stock surged by 13.38%. However, despite these fluctuations, Tesla's shares have experienced a year-to-date decline of 41.79%.
Image Via Shutterstock
Read Next: <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>
Editor&#8217;s Note: The headline of this article has been updated for clarity and accuracy.
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Tesla Unveils Timeline For Scaling Up Electric Semi-Truck Production, First Units From New Factory To 'External Customers' By 2026

Tesla and SpaceX CEO&nbsp;Elon Musk&nbsp;has expressed his admiration for Japanese video games, citing them as untainted by &#8220;woke DEI lies.&#8221;
What Happened: On Tuesday, Musk took to&nbsp;X, formerly Twitter, and replied to meme shared by social media user who goes by the handle &#8220;Rothmus&#8221; on platform. He said,&nbsp;&#8220;Games from Japan are still&nbsp;good, because they don't ruin&nbsp;the art with woke DEI&nbsp;lies.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Games from Japan are still good, because they don't ruin the art with woke DEI lies
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1782827990185046382?ref_src=twsrc%5Etfw">April 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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However, not everyone agreed with Musk&#8217;s statement. A user pointed out that Japanese developers have started self-censoring to cater to Western audiences. They also highlighted the issue of Western localizers rewriting game scripts to include &#8220;woke ideology&#8221; in Japanese games.
<a href="https://www.benzinga.com/news/22/05/27341015/elon-musk-endorses-this-recent-hit-video-game-as-most-beautiful-art-he-has-ever-seen">Musk&#8217;s appreciation for Japanese</a> video games is not new. In May 2022, he&nbsp;praised the hit video game &#8220;Elden Ring&#8221;&nbsp;as featuring the &#8220;most beautiful art&#8221; he had ever seen. Developed by Japanese studio FromSoftware, the game was released for all major gaming platforms.
Why It Matters: Musk&#8217;s recent comments on &#8220;woke DEI lies&#8221; are in line <a href="https://www.benzinga.com/news/24/01/36772215/elon-musk-calls-dei-extremely-anti-semitic-and-dangerous-in-conversation-with-ben-shapiro">with his previous criticisms</a> of diversity, equity, and inclusion or DEI initiatives. In January earlier this year, he&nbsp;branded the DEI agenda as &#8220;extremely anti-Semitic&#8221; and &#8220;dangerous&#8221;&nbsp;during an interview with&nbsp;Ben Shapiro. 
The tech billionaire has also been vocal about his opposition to DEI policies in the corporate world,&nbsp;accusing companies like Disney of <a href="https://www.benzinga.com/general/entertainment/24/02/36972002/elon-musk-charges-disney-with-institutionalized-racism-and-sexism-over-leaked-inclusion-sta">institutionalized racism and sexism</a>.
Despite the controversy surrounding his views, Musk&#8217;s influence in the gaming industry has been significant. His endorsement of &#8220;Elden Ring&#8221; in 2022 reportedly led to a surge in the game&#8217;s popularity and sales.
Photo courtesy: Shutterstock
Check out more of Benzinga's Future Of Consumer Tech 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/24/04/38370806/elon-musk-calls-social-security-the-biggest-ponzi-scheme-ever-maybe-ai-and-robots-will-save-it?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Calls Social Security The Biggest Ponzi Scheme Ever: &#8216;Maybe AI And Robots Will Save It&#8217;</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Gaming

Elon Musk Likes Games Originating From This Country Because Because They Haven't Been Corrupted By 'Woke DEI Lies'

At the close of Tuesday&#8217;s trading session, key U.S. stock indices showed gains, with the Dow Jones Industrial Average climbing 0.7% to reach 38,503.69, the S&amp;P 500 increasing by 1.2% to 5,070.55, and the Nasdaq also experiencing a rise of 1.6% to hit 15,969.64.
These are the top stocks that gained the attention of retail traders and investors through the day:
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s stock rose by 1.80%, closing at $144.61. The stock&#8217;s intraday high was $147.26, with a low of $141.11. The 52-week high and low are $299.29 and $138.80, respectively. The Elon Musk-led company reported first-quarter revenue of $21.0 billion, a 9% year-over-year decrease, <a href="https://www.benzinga.com/news/earnings/24/04/38390883/tesla-q1-earnings-highlights-ev-giant-misses-wall-street-estimates-makes-cost-cuts-invests-in-ai-sp">missing the Street consensus</a> estimate. 
Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)
Meta Platforms saw a 2.92% increase, closing at $495.78. The intraday high and low were $498.76 and $488.97, respectively, with a 52-week range of $531.49 to $207.13. Analysts expect the company to report <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38387398/meta-platforms-q1-earnings-preview-marginally-cautious-ai-opportunity-could-prove-f">first-quarter revenue</a> of $36.16 billion. 
See Also: <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;</a>
Enphase Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>)
Enphase Energy&#8217;s stock rose by 2.62%, ending the day at $113.41. The intraday high was $116.1, and the low was $109.65. The 52-week high and low are $228.36 and $73.49, respectively. The company reported <a href="https://www.benzinga.com/news/earnings/24/04/38391465/enphase-energy-q1-earnings-revenue-eps-come-in-below-estimates-amid-softening-us-demand">first-quarter revenue</a> of $263.3 million, missing the consensus estimate. 
Texas Instruments Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>)
Texas Instruments saw a 1.22% increase, closing at $165.42. The intraday high and low were $166.9 and $162.46, respectively, with a 52-week range of $188.12 to $139.48. The company reported <a href="https://www.benzinga.com/news/earnings/24/04/38390554/texas-instruments-q1-earnings-eps-beat-revenue-beat-despite-decline-across-all-end-markets">first-quarter revenue of $3.66 billion</a>, beating the consensus estimate. 
Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>)
Rivian Automotive&#8217;s stock rose by 2.84%, closing at $9.04. The stock&#8217;s intraday high was $9.24, with a low of $8.69. The 52-week high and low are $28.06 and $8.26, respectively. The company announced a <a href="https://www.benzinga.com/markets/equities/24/04/38380242/rivians-earth-day-offer-trade-in-your-gas-powered-car-and-get-up-to-5k-off-on-r1-ev">discount of up to $5,000</a> on qualifying new R1 models when customers trade in select gas-powered vehicles.
Photo by Jirapong Manustrong on Shutterstock
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
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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ENPH

RIVN

Tesla, Meta Platforms, Enphase Energy, Texas Instruments, Rivian: Why These 5 Stocks Are On Investors' Radars Today

The U.S. Senate has passed a bill that could lead to the ban or sale of&nbsp;TikTok, marking a significant development <a href="https://www.benzinga.com/news/24/04/38372058/analyst-predicts-tiktok-shutdown-in-us-by-next-year-ahead-of-senate-vote-will-not-operate-here">in the ongoing debate over</a> the app&#8217;s Chinese ownership.
What Happened: The Senate voted 79-18 in favor of the bill, which is part of a larger funding package providing aid to Israel, Ukraine, and Taiwan,&nbsp;<a href="https://www.washingtonpost.com/technology/2024/04/23/tiktok-ban-senate-vote-sale-biden/">reported</a>&nbsp;The Washington Post on Tuesday.&nbsp;The bill now awaits President&nbsp;Joe Biden&#8216;s signature, who has said he will sign the bill into law on Wednesday.
Once signed, the bill will give TikTok&#8217;s parent company,&nbsp;ByteDance,&nbsp;nine months to sell the&nbsp;app or face a national&nbsp;ban, with the possibility of a 90-day extension by the President.
The legislation, which <a href="https://www.benzinga.com/news/24/04/38322987/tiktoks-ticking-clock-meta-snap-stocks-climb-as-us-ban-bill-vote-nears">has bipartisan support</a>, is&nbsp;the most significant threat to&nbsp;TikTok&#8217;s U.S. operations, with over 170 million users in the country. Lawmakers have expressed concerns about the app&#8217;s Chinese ownership structure potentially <a href="https://www.benzinga.com/government/23/03/31479124/lawmakers-accuse-tiktok-of-being-national-security-threat-call-for-ban">compromising American data security</a>, a claim disputed by TikTok.
TikTok is expected to challenge&nbsp;the bill, setting the stage for a high-stakes legal battle. "It is unfortunate that the House of Representatives is using the cover of important foreign and humanitarian assistance to once again jam through a ban bill that would trample the free speech rights of 170 million Americans,&#8221; the platform <a href="https://www.benzinga.com/news/24/04/38353060/us-tiktok-ban-bill-would-trample-on-free-speech-rights-of-170m-americans-says-social-media-giant">said in a statement&nbsp;last week</a>.
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Why It Matters: The bill&#8217;s passage comes after years of scrutiny over TikTok&#8217;s ties to its Chinese parent company. The app previously proposed a plan, Project Texas, to safeguard U.S. data by storing it with American tech giant&nbsp;Oracle. However, this did not deter lawmakers from pursuing legislation to grant&nbsp;the executive branch power to&nbsp;restrict the platform.
Notable figures, including former President&nbsp;Donald Trump&nbsp;and&nbsp;Elon Musk, have&nbsp;<a href="https://www.benzinga.com/news/24/04/38368049/trump-reverses-tiktok-ban-stance-accuses-biden-of-favoring-zuckerbergs-meta-doing-it-to-help-faceboo">opposed the potential ban</a>, citing concerns about free speech and national security. Meanwhile,&nbsp;Nikki Haley, former U.S. Ambassador to the UN, has <a href="https://www.benzinga.com/government/24/04/38350596/former-gop-hopeful-nikki-haley-joins-calls-for-tiktok-ban-to-stop-infiltration-of-chinese-communist">supported the ban to prevent</a> the Chinese Communist Party&#8217;s influence on American society.
Analyst Dan Ives believes that Microsoft and Oracle could <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38358239/microsoft-and-oracle-could-be-tiktoks-likely-buyers-but-real-winners-would-be-mark-">emerge as the real winners</a> by acquiring TikTok, with Meta Platforms Inc.&#8217;s Mark Zuckerberg and Alphabet Inc.&#8217;s Sundar Pichai also benefiting from the situation.
Photo by XanderSt on Shutterstock
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/04/38370806/elon-musk-calls-social-security-the-biggest-ponzi-scheme-ever-maybe-ai-and-robots-will-save-it?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Calls Social Security The Biggest Ponzi Scheme Ever: &#8216;Maybe AI And Robots Will Save It&#8217;</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Social Media

Biden Set To Sign TikTok Ban Into Law After Senate Passes Bill Supported By GOP, Democrats

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares are on the rise, despite the company&#8217;s disappointing Q1 results. The electric vehicle giant&#8217;s stock surged after it announced plans to speed up the launch of new models.
What Happened: Phil LeBeau, a CNBC correspondent covering the automotive and aviation sectors, described Tesla&#8217;s Q1 results as &#8220;ugly.&#8221; However, the company&#8217;s shares soared following its announcement of an accelerated new model launch.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&quot;Let&#39;s be honest, it was ugly,&quot; says <a href="https://twitter.com/Lebeaucarnews?ref_src=twsrc%5Etfw">@Lebeaucarnews</a> after <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> posted Q1 results. But shares are surging&#8230; here&#39;s why. <a href="https://t.co/cA7TH15oD5">pic.twitter.com/cA7TH15oD5</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1782912167974436915?ref_src=twsrc%5Etfw">April 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Tesla <a href="https://www.benzinga.com/news/earnings/24/04/38390883/tesla-q1-earnings-highlights-ev-giant-misses-wall-street-estimates-makes-cost-cuts-invests-in-ai-sp">stated</a>, &#8220;We have updated our future vehicle line-up to accelerate the launch of new models ahead of our previously communicated start of production in the second half of 2025.&#8221; This includes more affordable models and a next-generation platform. 
See Also: <a href="https://www.benzinga.com/news/earnings/24/04/38390883/tesla-q1-earnings-highlights-ev-giant-misses-wall-street-estimates-makes-cost-cuts-invests-in-ai-sp?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Q1 Earnings Highlights: EV Giant Misses Wall Street Estimates, Makes Cost Cuts, Invests In AI, Spee</a>
The company&#8217;s shareholder letter on Tuesday also mentioned the development of a next-gen vehicle. Tesla acknowledged that this update might result in less cost reduction than previously expected but would allow for a more efficient increase in vehicle volumes during uncertain times.
Why It Matters: Despite the <a href="https://www.benzinga.com/news/earnings/24/04/38390883/tesla-q1-earnings-highlights-ev-giant-misses-wall-street-estimates-makes-cost-cuts-invests-in-ai-sp">disappointing Q1 results</a>, Tesla&#8217;s stock has been on the rise. The company&#8217;s Q1 revenue of $21.0 billion was 9% lower than the previous year and missed the Street consensus estimate of $22.15 billion.
Automotive revenue was $17.38 billion in the quarter, down 13% year-over-year. Services and other revenue of $2.29 billion rose 25% year-over-year.
The company said revenue was impacted by lower average selling prices and lower vehicle deliveries in the quarter.
Earnings per share were 45 cents in the quarter, which missed a Street consensus estimate of 51 cents per share.
Price Action: According to the data <a href="https://www.benzinga.com/pro/">from Benzinga Pro</a>, Tesla shares are currently priced at $144.61, reflecting a 1.80% increase from Tuesday&#8217;s closing price. Notably, in after-hours trading, the stock surged by 13.38%. However, despite these fluctuations, Tesla&#8217;s shares have experienced a year-to-date decline of 41.79%.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38384714/whats-going-on-with-trump-media-technology-stock-on-tuesday?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With Trump Media &amp; Technology Stock On Tuesday?</a>
Image Via Shutterstock 
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Tesla Stock Surges Despite 'Ugly' Q1 Results: Here's Why

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly set to launch a&nbsp;Calculator app&nbsp;for the iPad, a long-awaited feature, with the upcoming iPadOS 18.
What Happened: The new app&nbsp;is expected to be unveiled&nbsp;during the opening keynote of&nbsp;Apple&#8217;s annual <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38362506/apples-next-big-leap-how-ai-software-and-wwdc-announcements-could-fuel-growth">developers conference WWDC</a>&nbsp;on June 10,&nbsp;<a href="https://www.macrumors.com/2024/04/23/calculator-app-for-ipad-rumor/">reported</a> MacRumors, citing a source familiar with the matter. The app will be available for all iPad models compatible with the software update.
The absence&nbsp;of an official Calculator app&nbsp;on the iPad has been&nbsp;a subject of humor on social media, with users eagerly anticipating&nbsp;its arrival. In the meantime,&nbsp;iPad users have been using third-party calculator apps from the App Store.
If the reports are true, Cupertino would be introducing the app on <a href="https://www.benzinga.com/markets/equities/24/01/36814939/if-you-invested-1000-in-apple-when-the-ipad-was-launched-14-years-ago-heres-how-much-youd-have-t">iPads after 14 years of launching</a> the device. 
See Also:&nbsp;<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">Apple In Talks With Google To License Gemini AI Models For Future iPhones: Report</a>
Last week, it was reported that macOS 15 will&nbsp;feature a revamped Calculator app&nbsp;with the integration of Notes&nbsp;app, a resizable window, a&nbsp;sidebar that lists recent calculations,&nbsp;and more. It is speculated&nbsp;that the updated Mac app&nbsp;will be based on the&nbsp;new iPad app.
The first beta of iPadOS&nbsp;18 is expected to be&nbsp;released immediately following the WWDC&nbsp;keynote, with the update set for a widespread release in September.
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.
Why It Matters: This development comes on the <a href="https://www.benzinga.com/news/24/04/38382312/apple-sets-date-for-special-event-after-18-month-pause-new-ipads-expected-on-may-7">heels of Apple&#8217;s announcement of a&nbsp;special event</a>, where it is expected to unveil new iPads. The tech giant has started sending out invitations to a &#8220;special Apple Event&#8221; on May 7, at 7 AM PT/10 AM ET. 
This event is anticipated to focus on the new iPad models, as indicated by the image on the invite, which features the Apple Pencil.
Apple&#8217;s reported launch of new iPad Pro and iPad Air models could end a nearly 18-month drought. The launch is set to include new 11-inch and 13-inch OLED iPad Pro models, an enlarged 12.9-inch iPad Air, and updated Magic Keyboard and Apple Pencil accessories.
Photo Courtesy: Shutterstock.com
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>.&nbsp;
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/03/37724059/vivek-ramaswamy-weighs-in-on-tiktok-debate-suggests-senate-bill-to-ban-tech-giants-from-sharing-user?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple Fails To Dismiss Lawsuit Claiming AirTags Are Weapon Of Stalkers: ‘Determination Cannot Be Made At This Early Stage&#8217;</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

AAPL

At Last! Apple To Finally Introduce Calculator App For iPad After 14 Years: Report

The trend of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) whales accumulating the cryptocurrency appears to have halted, according to a popular analyst. 
What Happened: On Tuesday, Ali Martinez, took to social media platform X, formerly Twitter, to alert the community about the cessation of Bitcoin accumulation by whales. Martinez&#8217;s post was accompanied by a chart of the accumulation trend score, an indicator of the on-chain accumulation behavior of large entities.
As the accumulation trend score has now dropped to zero, Martinez believes this indicates that whales are either distributing or not accumulating Bitcoin at current levels.
&#8220;#Bitcoin accumulation trend score has dropped to zero, indicating that whales are distributing or not accumulating $BTC at the current levels!&#8221; Ali wrote.
<a href="https://twitter.com/ali_charts/status/1782811923664277687/photo/1"></a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> accumulation trend score has dropped to zero, indicating that whales are distributing or not accumulating <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> at the current levels! <a href="https://t.co/zynub6w9o6">pic.twitter.com/zynub6w9o6</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1782811923664277687?ref_src=twsrc%5Etfw">April 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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The Accumulation Trend Score is a measure that shows how much Bitcoin different entities are acquiring or selling on-chain. It combines two factors: the size of the entities&#8217; Bitcoin holdings (their participation score) and whether they&#8217;re getting more coins or selling them over the last month (their balance change score). 
A score closer to 1 suggests that larger entities or a significant portion of the network are accumulating Bitcoin, while a score closer to 0 indicates they&#8217;re selling or not acquiring more. This helps us understand the size and behavior of market participants in terms of Bitcoin accumulation over the past month, <a href="https://academy.glassnode.com/indicators/accumulation-trend-score">according</a> to Glassnode Academy.
Whales are typically large holders of Bitcoin, and their accumulation or distribution behavior can significantly impact the market. This shift in their behavior could potentially signal a change in the market&#8217;s direction.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38377888/holding-6-ethereum-eth-could-make-you-a-millionaire-according-to-cathie-wood?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Holding 6 Ethereum (ETH) Could Make You A Millionaire, According to Cathie Wood</a>
Why It Matters: The news of Bitcoin whales halting their accumulation comes at a time when the cryptocurrency&#8217;s future value is a topic of much debate. Despite a recent pullback, a Standard Chartered analyst has predicted a more than <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38369340/bitcoin-to-more-than-double-in-value-to-150k-by-year-end-says-standard-chartered-analyst-w">100% increase in Bitcoin&#8217;s value</a> by the end of 2024. This forecast, combined with the whale behavior, could indicate a significant shift in the market&#8217;s dynamics.
Additionally, the BRICS nations are exploring the use of <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38385726/brics-eye-stablecoins-cbdc-bridge-to-advance-financial-integration">stablecoins and CBDCs</a> to reduce their reliance on the U.S. dollar, potentially impacting the global cryptocurrency market. Meanwhile, meme coins are gaining traction, with a trader predicting that at least three meme coins will <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38383807/trader-predicts-at-least-3-meme-coins-above-100b-market-cap-heres-which-coins-benzinga-fol">surpass a $100 billion</a> market cap.
However, some traders have expressed concerns about the current state of the market, with one warning that the market is overvalued and <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38365501/crypto-greed-almost-at-all-time-high-but-prices-are-not-warns-trader-this-cycle-is-kinda-c">the current cycle</a> may not be as favorable as the previous one.
These developments, combined with the change in whale behavior, suggest that the cryptocurrency market may be on the verge of a significant shift.
Price Action: According to the data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>, Bitcoin is currently priced at $66,843, marking a 0.64% increase over the past 24 hours. Impressively, it has surged by 51.33% since the beginning of the year.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38383807/trader-predicts-at-least-3-meme-coins-above-100b-market-cap-heres-which-coins-benzinga-fol?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trader Predicts &#8216;At Least 3 Meme Coins Above $100B Market Cap&#8217;: Here&#8217;s Which Coins Benzinga Followers Liked The Most</a>
Image Via Pixabay 
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Bitcoin Whales Stop Accumulation, Start Distributing King Crypto: What Does This Mean For The Market

On Tuesday, Cathie Wood&#8217;s Ark Invest continued its aggressive buying of Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares, despite the electric vehicle giant&#8217;s earnings miss.
The TSLA Trade
Ark Invest purchased a total of 29,230 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 purchase came after <a href="https://www.benzinga.com/news/earnings/24/04/38390883/tesla-q1-earnings-highlights-ev-giant-misses-wall-street-estimates-makes-cost-cuts-invests-in-ai-sp">Tesla&#8217;s Q1 earnings report</a> revealed a year-over-year revenue drop of 9%, missing Wall Street&#8217;s consensus estimate.
The value of the Tesla shares purchased by Ark Invest, based on the closing price of $144.68 on Tuesday, amounts to approximately $4.3 million. This move follows <a href="https://www.benzinga.com/markets/equities/24/04/38368840/cathie-woods-ark-invest-seizes-tesla-dip-acquires-over-17m-in-shares-ahead-of-q1-results-zoom-st">Ark Invest&#8217;s acquisition of over $17 million in Tesla shares</a> the previous day, ahead of the first quarter results announcement.
Other Key Trades:
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> 
<ul>
<li>Ark Fintech Innovation ETF (ARKF) sold shares of StoneCo Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STNE#NASDAQ">STNE</a>). </li>
<li>ARKF also offloaded 1,205 shares of Twilio Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>). Both ARKK and ARKQ sold a significant number of shares in 2U Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWOU#NASDAQ">TWOU</a>). </li>
<li>ARKW also sold a smaller amount of Twilio and 2U Inc shares.</li>
</ul>
Read Next: <a href="https://www.benzinga.com/news/earnings/24/04/38390883/tesla-q1-earnings-highlights-ev-giant-misses-wall-street-estimates-makes-cost-cuts-invests-in-ai-sp?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Q1 Earnings Highlights: EV Giant Misses Wall Street Estimates, Makes Cost Cuts, Invests In AI, Speeds Launch Of New Models</a>
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Invesco's Big Fixed Income Factor ETF Splash

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Thursday, July 26, 2018