Latest news for  (OTC:IMWEF) Stock

<h3>Companies Reporting Before The Bell</h3>
• Vera Bradley (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRA#NASDAQ">VRA</a>) is likely to report quarterly earnings at $0.06 per share on revenue of $98.70 million. 
• REV Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REVG#NYSE">REVG</a>) is expected to report quarterly earnings at $0.49 per share on revenue of $603.33 million. 
• Macy's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) is projected to report quarterly earnings at $0.03 per share on revenue of $4.72 billion. 
• Cognyte Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGNT#NASDAQ">CGNT</a>) is expected to report quarterly loss at $0.04 per share on revenue of $87.42 million. 
• Kanzhun (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BZ#NASDAQ">BZ</a>) is estimated to report quarterly earnings at $0.22 per share on revenue of $266.36 million. 
• Photronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLAB#NASDAQ">PLAB</a>) is likely to report quarterly earnings at $0.52 per share on revenue of $218.00 million. 
• Waterdrop (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WDH#NYSE">WDH</a>) is estimated to report earnings for its third quarter. 
<h3>Companies Reporting After The Bell</h3>
• Nordson (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDSN#NASDAQ">NDSN</a>) is projected to report quarterly earnings at $2.59 per share on revenue of $736.79 million. 
• Oxford Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXM#NYSE">OXM</a>) is estimated to report quarterly earnings at $0.09 per share on revenue of $316.83 million. 
• Adobe (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) is estimated to report quarterly earnings at $4.66 per share on revenue of $5.54 billion. 
• Champions Oncology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSBR#NASDAQ">CSBR</a>) is likely to report quarterly earnings at $0.01 per share on revenue of $13.05 million. 
• 17 Education &amp; Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YQ#NASDAQ">YQ</a>) is estimated to report earnings for its third quarter. 
• Kewaunee Scientific (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KEQU#NASDAQ">KEQU</a>) is estimated to report earnings for its second quarter. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

ADBE

CGNT

CSBR

KEQU

NDSN

PLAB

REVG

Earnings Scheduled For December 11, 2024

Elon Musk has dismissed rumors suggesting he is purchasing property close to Donald Trump&#8216;s Mar-a-Lago estate. The speculation emerged on Thursday when DogeDesigner posted a headline that said Musk was involved in a real estate transaction near the former president&#8217;s Florida residence.
What Happened:&nbsp;Musk responded directly to the post, stating, &#8220;I'm not buying or building&nbsp;a house anywhere.&#8221;
The post from DogeDesigner included a note that readers had added context to the claim, which was subsequently denied by Musk. 
Musk&#8217;s denial comes amid his involvement in various high-profile initiatives, including recently being announced by President-elect Trump <a href="https://www.benzinga.com/news/global/24/12/42283558/elon-musks-doge-co-lead-already-targeting-tesla-rivals-vivek-ramaswamy-flags-stellantis-75b-loan-days-after-criticizing-rivians-66b-loan">to co-lead the Department of Government Efficiency </a>(DOGE) with Vivek Ramaswamy.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I'm not buying or building a house anywhere
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1866554579925577793?ref_src=twsrc%5Etfw">December 10, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also:&nbsp;<a href="https://www.benzinga.com/news/24/12/42404540/whats-going-on-with-dogecoin-rival-shiba-inu-shib-2?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With Dogecoin Rival Shiba Inu (SHIB)?</a>
Why It Matters: Musk&#8217;s denial of the property purchase near Mar-a-Lago is significant given his current role in the newly established Department of Government Efficiency. This department, formed by <a href="https://www.benzinga.com/24/11/42253427/elon-musks-doge-dream-team-from-marc-andreessen-to-ubers-travis-kalanick-silicon-valley-titans-join-forces-to-overhaul-federal-spending">President-elect Trump</a>, aims to identify and implement cost-cutting measures to reduce federal spending by up to $2 trillion. Musk, along with Ramaswamy, is spearheading this initiative, tapping into the expertise of Silicon Valley leaders to achieve these goals.&nbsp;
Despite the ambitious objectives, analysts like Mario Georgiou have expressed skepticism about the potential impact of DOGE, estimating savings of <a href="https://www.benzinga.com/24/11/42131911/donald-trump-appointed-doge-to-have-marginal-impact-saving-50-100-billion-says-analyst-as-elon-musk-aims-to-target-500-billion-plus-in-federal-expenditures">$50–100 billion annually</a>, which would have a limited effect on the overall federal budget. The U.S. federal deficit is projected to reach $1.7 trillion in 2024, with mandatory spending on programs like Social Security and Medicare accounting for a significant portion of expenditures.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42405504/dogecoin-can-touch-18-if-things-go-wild-says-influential-crypto-trader-thankful-for-the-dip-and-will-buy-more?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Can Touch $18 If Things &#8216;Go Wild,&#8217; Says Influential Crypto Trader: &#8216;Thankful For The Dip And Will Buy More&#8217;</a></li>
</ul>
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.
Image via Shutterstock

News

General

Elon Musk Refutes Rumors Of Buying Property Near Donald Trump's Mar-A-Lago: 'I'm Not Buying Or Building A House Anywhere'

STMicroelectronics introduces first STM32-ready wireless IoT modules leveraging collaboration with Qualcomm
WiFi6/Bluetooth 5.3/Thread ST67W611M1 modules accelerate development and boosts flexibility to deliver advanced consumer and industrial IoT solutions "Our collaboration delivers multiple advantages for the large community that leverage the STM32 family in their embedded systems," said Remi El-Ouazzane, President, Microcontrollers, Digital ICs and RF Products Group (MDRF) at STMicroelectronics. "Qualcomm's expertise in highly influential and widely used wireless connectivity technologies is now at product developers' fingertips and combines with the powerful software, tools, features and project acceleration offered by the STM32 development ecosystem."
"This is just the beginning of our mission, which we expect to deliver many further successes enabling new and advanced edge processing applications," said Rahul Patel, Group General Manager, Connectivity, Broadband and Networking Business Unit, Qualcomm Technologies, Inc. "We look forward to continuing our collaboration with STMicroelectronics to bring more unparalleled connected experiences with Wi-Fi, Bluetooth, AI, 5G and more."

QCOM

STMicroelectronics Debuts STM32-Ready IoT Modules With Wi-Fi 6 And Bluetooth 5.3, Powered By Qualcomm Collaboration

Gene Munster, managing partner at Deepwater Asset Management, has asserted Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) as the most innovative company, surpassing tech giants like Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), and Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
What Happened: On Tuesday, Munster took to X, formerly Twitter, and pointed out that Elon Musk-led Tesla&#8217;s stock surged by 84% over the last 65 trading days, <a href="https://www.benzinga.com/news/24/10/41284847/tesla-reveals-two-seater-cybercab-that-drives-itself">following the &#8216;We, Robot&#8217; event </a>in October.
He attributed Tesla&#8217;s impressive stock performance to renewed confidence in autonomy and future robotics. &#8220;As a comparison, the rest of the Mag 7 is up, on average, 10%, and the Nasdaq up 8%.&#8221;
See Also: <a href="https://www.benzinga.com/24/12/42379986/metas-llama-3-3-70b-outshines-rivals-nvidias-liquid-cooling-breakthrough-xai-raises-6b-this-week-in-ai?itm_source=parsely-api">Meta&#8217;s Llama 3.3 70B Outshines Rivals, Nvidia&#8217;s Liquid-Cooling Breakthrough, xAI Raises $6B: This Week In AI</a>
Munster went on to add that Tesla&#8217;s current market cap stands at $1.3 trillion.
He compared Tesla to other companies with market caps exceeding $2 trillion, such as Apple, Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Google, Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and Nvidia, asserting that Tesla is arguably the most innovative among them.
&#8220;In other words, I believe Tesla's market cap has plenty of room to grow,&#8221; he stated.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> is up 84% over the last 65 trading days, or since the 10/11 ‘We, Robot' event. As a comparison, the rest of the Mag 7 is up, on average, 10%, and the Nasdaq up 8%. Tesla's run is a direct result of a renewed belief in autonomy and future robotics. As Franz said at ‘We,…
&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1866536682448883794?ref_src=twsrc%5Etfw">December 10, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Why It Matters: The &#8216;We, Robot&#8217; event featured 19 Cybercabs and 29 Model Ys driving autonomously, with <a href="https://www.benzinga.com/news/24/10/41350962/tesla-key-exec-says-we-robot-event-had-1-300-perfectly-safe-autonomous-trips-driving-over-2-000-gues">no safety-related incidents</a> reported, according to Tesla executive Ashok Elluswamy.
Previously, Cathie Wood, CEO of ARK Investment Management LLC, also described Tesla as &#8220;<a href="https://www.benzinga.com/news/global/24/11/42238773/cathie-wood-sees-tesla-as-largest-ai-project-on-earth-heres-why-shes-not-worried-about-tech-investments">the largest AI project on Earth</a>,&#8221; underscoring its transformative potential across multiple sectors.
Earlier this week, Gary Black, managing partner at The Future Fund LLC, <a href="https://www.benzinga.com/markets/equities/24/12/42404312/gary-black-boosts-tesla-price-target-by-27-to-380-citing-25k-hatchbacks-market-potential">raised his price target for Tesla</a> by 27% to $380, citing the potential launch of a $25,000-$30,000 hatchback model.
This new offering could capture approximately 15% of the global compact car market, further boosting Tesla&#8217;s growth prospects.
In China, Tesla&#8217;s sales momentum is also noteworthy, with insurance registrations reaching 21,900 units for the week ending Dec. 8, marking its <a href="https://www.benzinga.com/tech/24/12/42409492/teslas-2nd-best-week-in-china-in-2024-boosts-q4-prospects">second-best week in 2024</a>.&nbsp;
Price Action: On Tuesday, Tesla shares ended the trading session with a 2.187% increase, closing at $400.99. During after-hours trading, the stock saw a further rise of 0.55%. So far this year, it has climbed 61.42%, as per <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Analysts currently have a consensus &#8220;hold&#8221; rating for Tesla stock, with Stifel setting the highest price target at $411 on Dec. 2. Recent price targets from Cantor Fitzgerald, Morgan Stanley, and Deutsche Bank average $378.33, indicating a potential downside of 6.17%.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/TSLA/analyst-ratings"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/11015750/Screenshot-2024-12-11-at-12.27.45%E2%80%AFPM-1024x380.png" alt="" class="wp-image-686648" /></a></figure>
Image via Shutterstock
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/24/12/42359072/sundar-pichai-takes-a-jab-at-microsofts-ai-efforts-theyre-using-someone-elses-models-doubling-down-on-googles-innovation-power?itm_source=parsely-api">Google CEO Sundar Pichai Fires Back At Microsoft Over AI, Dismisses Satya Nadella&#8217;s Criticism: &#8216;I Would Love To Do A Side-By-Side Comparison&#8230;Any Day, Any Time&#8217;</a></li>
</ul>
Disclaimer:&nbsp;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.

Tech

AAPL

AMZN

GOOG

GOOGL

MSFT

NVDA

TSLA

Tesla Tops Nvidia And Apple In Innovation:  Analyst Sees Significant Market Cap Upside For Elon Musk-Led EV Giant

AI Advances Will Help People Managers Retain Top Talent, Build Stronger Employee Engagement and Drive Organizational Success Around the World

WDAY

Workday Enhances Peakon Employee Voice With Illuminate AI Tools To Boost Engagement And Retain Top Talent

<ul>
<li>The Company will start manufacturing the FF 91 2.0's seats in-house at its Hanford, CA factory immediately, reducing costs for its flagship luxury EV.</li>
<li>In-house manufacturing of seats and interiors are the foundation for personalization and customization in the Ultimate AI TechLuxury FF 91 2.0.</li>
</ul>

FFIE

Faraday Future Insources FF 91 2.0 Seat Production At Hanford Facility, Driving Cost And Efficiency Gains

NCNO

nCino And HBZ UK Join Forces To Transform Buy-To-Let Lending With Advanced Digital Banking Solutions

<ul>
<li>Novo Nordisk and Evotec select three projects from Boston University, Harvard University in collaboration with Mass General Brigham, and Joslin Diabetes Center to be developed within LAB eN² focusing on cardiometabolic diseases</li>
<li>LAB eN² is also expanding, adding Boston Children's Hospital, Boston University, Johns Hopkins University, Joslin Diabetes Center, and the Icahn School of Medicine at Mount Sinai as new participating institutions</li>
</ul>

Evotec And Novo Nordisk Launch First Projects For LAB eN² Accelerator, Focusing On Cardiometabolic Diseases

First Abu Dhabi Bank Leverages Broadridge's SFCM Platform For Global Securities Finance Expansion

German automaker BMW (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>) on Tuesday applauded American EV giant Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) full self-driving (FSD) driver assistance software&#8217;s latest version, terming it &#8220;very impressive.&#8221;
What Happened: BMW was responding to a video of a Tesla owner navigating through streets without their hands on the wheel using version 13 of the company&#8217;s FSD software.
&#8220;Wery impressive,&#8221; BMW wrote on social media platform X.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">very impressive
&mdash; BMW (@BMW) <a href="https://twitter.com/BMW/status/1866548798798844297?ref_src=twsrc%5Etfw">December 10, 2024</a></blockquote>
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Tesla responded to the comment with a cheeky &#8220;Hi BMW&#8221; and a grinning emoji. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Hi <a href="https://twitter.com/BMW?ref_src=twsrc%5Etfw">@BMW</a> &#x1f600;
&mdash; Tesla (@Tesla) <a href="https://twitter.com/Tesla/status/1866563548228309419?ref_src=twsrc%5Etfw">December 10, 2024</a></blockquote>
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The comment has raised hopes among Tesla bulls that the company could eventually license the technology for their vehicles.
&#8220;At some point $TSLA will sign an FSD licensing deal with another auto mnfr (manufacturer) who hasn't developed an autonomous driving package to their liking. One deal will cause others to follow and then analysts will build licensing revs into their TSLA models and price targets. No one knows when the first one will hit, but there is at least one incoming,&#8221; Gary Black, Managing Partner at The Future Fund, said on Tuesday.
Black, however, added that he wouldn&#8217;t be accounting for a potential licensing deal while determining his price target for Tesla.
&#8220;There has to be real meat behind it or we don't count it,&#8221; Black said. The analyst has a 6-12 month <a href="https://www.benzinga.com/markets/equities/24/12/42404312/gary-black-boosts-tesla-price-target-by-27-to-380-citing-25k-hatchbacks-market-potential">price target of $380</a> on Tesla.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">At some point <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> will sign an FSD licensing deal with another auto mnfr who hasn't developed an autonomous driving package to their liking. One deal will cause others to follow and then analysts will build licensing revs into their TSLA models and price targets. No one knows… <a href="https://t.co/wb266zgyQc">https://t.co/wb266zgyQc</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1866586358224994504?ref_src=twsrc%5Etfw">December 10, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Tesla CEO Elon Musk said earlier this year that the company would be "happy" to license its&nbsp;<a href="https://www.benzinga.com/news/24/04/38039926/not-an-april-fools-teslas-fsd-wows-ex-cruise-exec-who-calls-its-driving-eerily-natural" target="_blank" rel="noreferrer noopener">full self-driving (FSD) technology&nbsp;</a>to other car companies. 
However, in January, the company said that it had&nbsp;<a href="https://www.benzinga.com/news/24/01/36772202/elon-musk-says-tesla-hasnt-received-any-fsd-licensing-agreements-from-rivals-i-think-they-dont-belie" target="_blank" rel="noreferrer noopener">not entered into a single FSD licensing agreement</a>.
Though the company had some tentative conversations, no agreement was entered into. &#8220;I think they (rival automakers) don&#8217;t believe it&#8217;s real quite yet,&#8221; Musk then said.&#8221;I do want to emphasize that if I were CEO of another car company, I would definitely be calling Tesla and asking to license Tesla's full self-driving technology."
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/tech/24/12/42429588/gms-cruise-exit-draws-sharp-reaction-from-co-founder-kyle-vogt-tesla-ceo-elon-musk-says-autonomous-driving-is-a-very-hard-problem">GM&#8217;s Cruise Exit Draws Sharp Reaction From Co-Founder Kyle Vogt: Tesla CEO Elon Musk Says Autonomous Driving Is A &#8216;Very Hard Problem&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

Analyst Color

BMWYY

BMW Calls Tesla FSD 'Very Impressive,' Gary Black Says Automakers Will Eventually License It: 'One Deal Will Cause Others To Follow'

CSWC

Reported Earlier, Capital Southwest Receives SBA "Green Light" To Apply For Second SBIC License, Targeting $175M In Growth Capital

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly set to introduce satellite texting and a non-invasive blood pressure tool in its upcoming Watch Ultra.
What Happened: &nbsp;The satellite feature will allow users to send texts via Globalstar Inc.&#8217;s (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/GSAT#AMEX">GSAT</a>) satellites without cellular or Wi-Fi, <a href="https://www.bloomberg.com/news/articles/2024-12-10/apple-plans-apple-watch-ultra-3-next-year-with-satellite-texting-and-5g">reported</a> Bloomberg, citing people familiar with the matter.
This development positions the Ultra as the first mainstream smartwatch with satellite communication, potentially reducing the need for standalone devices like Garmin Ltd.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) inReach.
See Also: <a href="https://www.benzinga.com/24/12/42381987/apple-faces-12b-lawsuit-for-dropping-csam-detection-while-google-and-meta-set-higher-standards-for-child-safety?itm_source=parsely-api">Apple Faces $1.2B Lawsuit Over Child Sexual Abuse Material Detection On iCloud — Tech Giant Says, &#8216;Urgently And Actively Innovating&#8217;</a>
The blood pressure monitoring tool, also expected in 2025, aims to alert users of potential hypertension, though it won&#8217;t provide specific readings, the report noted.
However, the feature has been delayed before.
Why It Matters: Apple intends to boost smartwatch sales by introducing new features after a period of stagnation.
The company's Wearables, Home, and Accessories division, which includes watches, has experienced a decline in revenue over the past two years.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
In October, when Apple reported its <a href="https://www.benzinga.com/news/earnings/24/10/41666494/apple-q4-earnings-revenue-beat-eps-beat-installed-base-hits-new-highs-iphone-sales-rise-as-apple-in">fourth-quarter revenue</a>, Wearables, Home, and Accessories encompassed to $9.04 billion, down from $9.32 billion the previous year.
Last month, <a href="https://www.benzinga.com/news/24/11/41688837/apple-satellite-connectivity-provider-globalstar-stock-surges-after-deal-extension">Apple expanded its partnership with Globalstar</a> with a $1.1 billion services agreement extension.
According to Statista, as of the second quarter of 2024, Apple leads the smartwatch market with a 19% share of global shipments.
Price Action: Apple&#8217;s stock rose by 0.41% on Tuesday, ending the day at $247.77. However, after hours, it declined by 0.028%, settling at $247.70, according to <a href="http://pro.benzinga.com/">Benzinga Pro data</a>.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Photo courtesy: Apple
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42379986/metas-llama-3-3-70b-outshines-rivals-nvidias-liquid-cooling-breakthrough-xai-raises-6b-this-week-in-ai?itm_source=parsely-api">Meta&#8217;s Llama 3.3 70B Outshines Rivals, Nvidia&#8217;s Liquid-Cooling Breakthrough, xAI Raises $6B: This Week In AI</a></li>
</ul>

Media

GRMN

GSAT

Apple Watch Ultra Could Feature Satellite Texting And Blood Pressure Measurements: Here's What We Know

Reported Earlier, Tanger Acquires Premier Open-Air Lifestyle Center In Arkansas, Strengthening Sunbelt Market Presence

As the S&amp;P 500 Index is nearing the end of another consecutive year with over 20% gain, many analysts are worried about the &#8220;frothy valuations&#8221; citing several indicators. However, Carson Research, in its <a href="https://www.carsongroup.com/insights/blog/now-the-bears-are-apologizing/">latest blog post</a> says that &#8220;we are in a bull market and it is alive and well.&#8221;
What Happened: According to Carson Research the &#8220;bears&#8221; have been &#8220;apologizing&#8221; as many have been changing their stance and outlook toward the current market conditions.
The note written by its chief market strategist Ryan Detrick, 2024 &#8220;would go down as the best election year return ever,&#8221; as the S&amp;P 500 Index has made 56 new all-time highs.
He also highlighted that the current bull market is nearly 26 months old and is now up more than 70% from the mid-October 2022 lows. &#8220;But the good news for investors is that once previous bull markets got to this point there were many more years of gains left,&#8221; he said.
According to the note, &#8220;Going back 50 years, we found five other bull markets that had lasted at least this long and the shortest any of them lasted was five total years. Think of it like a cruise ship — once it gets moving, it can be quite hard to stop.&#8221;
In the graph shared by Detrick, he highlighted the August 1987 and October 2007 bull markets which lasted for five years each, the November 1980 bull market which lasted 6.2 years, and also March 2000 bull market which lasted for 12.3 years.
<figure class="wp-block-image size-full"><a href="https://www.carsongroup.com/insights/blog/now-the-bears-are-apologizing/"><img loading="lazy" decoding="async" width="925" height="746" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/11012801/Previous-Bull-Markets.png" alt="" class="wp-image-686615" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/11012801/Previous-Bull-Markets.png 925w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/11012801/Previous-Bull-Markets-300x242.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/11012801/Previous-Bull-Markets-768x619.png 768w" sizes="(max-width: 925px) 100vw, 925px" /></a></figure>
Also read: <a href="https://www.benzinga.com/general/market-summary/24/12/42405749/bitcoin-far-more-of-a-threat-than-a-brics-reserve-currency-says-jeremy-siegel-find-it-curious-that-trump-championed-btc-at-100k" target="_blank" rel="noreferrer noopener">Bitcoin Far More Of A Threat Than A BRICS Reserve Currency, Says Jeremy Siegel: Find It ‘Curious&#8217; That Trump Championed BTC At 100K</a>
Why It Matters: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) have gained 27.54% and 29.31% on a year-to-date basis. Whereas, iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) tracking the Russell 2000 Index grew by 18.63% this year.
The Dow hit a record eight 1,000-point milestones this year and November was a huge month for small caps, with the Russell 2000 up by 10.9%.
&#8220;We found 22 other times the Russell 2000 gained at least double digits in a month and six months later it has been higher 90% of the time and a year later up a very solid 15% on average,&#8221; the note said.
The note also quotes David Rosenberg of Rosenberg Research issuing an apology. &#8220;It's high time for me to stop pontificating on all the reasons why the U.S. stock market is crazily overvalued and all the reasons to be bearish based on all the variables I have relied on in the past — from valuation, to sentiment, to overcrowded positioning,&#8221; Rosenberg said.
He further added in his piece titled, Lament of a Bear that he will start &#8220;assessing what it is the market is saying, because the market can certainly move to excesses in both directions and make faulty assumptions, but the market is not stupid.&#8221;
Photo generated using Midjourney
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Kasikornbank &nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/KPCPY#OTC">KPCPY</a>)&nbsp; and SCBX, two of Thailand&#8217;s largest banks, are diving into stablecoin-powered remittance services to enhance cross-border transactions.
Kasikornbank recently partnered with Japan's G.U. Group to explore stablecoin solutions for remittances between the two countries, capitalizing on the high number of Japanese businesses operating in Thailand, <a href="https://asia.nikkei.com/Spotlight/Cryptocurrencies/Thai-banks-join-stablecoin-rush-with-eye-on-migrant-worker-remittances">reported</a> Nikkei on Wednesday.
SCBX introduced Thailand&#8217;s first international stablecoin remittance platform, enabling 24/7 transactions with reduced fees. With a robust mobile payment infrastructure and a significant migrant workforce, Thailand is poised for stablecoin adoption. 
However, questions about regulation and stability loom over this shift in financial technology. 
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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