Innovation Pharma Stock (OTC:IPIX), Trade Ideas

Innovation Pharmaceuticals Inc is a clinical-stage pharmaceutical company in the United States. It is engaged in developing therapies with oncology, dermatology, and antimicrobial applications. Its clinical trials focus on evaluating its drug candidates, including Kevetrin for the treatment of cancers; Brilacidin, a potential therapeutic for the treatment of the novel coronavirus. The company focuses on developing small molecule therapies to treat diseases in the areas of cancer, antibiotics, and inflammatory disease.

News

Penny Stocks

Small Cap

Markets

ADDYY

AYRWF

BNPQY

ETHE

FMCC

FNMA

GBTC

IPIX

AMERICAN LITHIUM CORP ORD by American Lithium Corp.

LIACF

LTCN

NGLOY

RHHBY

SMURF

TRSSF

VRNOF

NLST

NVNSX

Photo by Markus Winkler on Unsplash

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

November was an interesting month for OTC Markets securities. 

These OTC Securities Had the Most Trading Activity in November

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Global

Trading Ideas

General

ACDVF

BYRN

CYDY

EXPGY

HGEN

PLNHF

SMICY

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

Trading Activity In Emerging Names Increased On OTC Markets In June

Biotech

Long Ideas

Short Ideas

Emerging Markets

Specialty ETFs

Eurozone

Health Care

ETFs

ADRNY

AXAHY

DANOY

GAXY

HEINY

IMBBY

JBSAY

KBLB

TOMDF

MDNAF

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

The COVID-19 pandemic has led to dramatic changes in market behavior, as traders and investors try to grapple with the short-term and long-term implications of a pandemic.

The Spread of COVID-19 Has Caused Massive Volume Spikes In Securities On OTC Markets

INNOVATION PHARMACEUTICAL by Innovation Pharmaceuticals Inc.

Innovation Pharmaceuticals Inc

Shytoshi Kusama, the mysterious lead developer and co-founder of the Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) project, dropped a cryptic message on social platform X, sparking a flurry of speculations within the community.
What Happened: On Tuesday, the suspenseful figure released a gif with the word &#8220;EVITA," a Spanish equivalent of the female name Eva, which translates to "life" or "living one."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://t.co/Lk9fRq9ivb">pic.twitter.com/Lk9fRq9ivb</a>
&mdash; Shytoshi Kusama&#x2122; (@ShytoshiKusama) <a href="https://twitter.com/ShytoshiKusama/status/1787757849352777890?ref_src=twsrc%5Etfw">May 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The puzzling message was also shared at the same time by Kaal Dhairya, a key developer in the Shiba Inu ecosystem. Dhairya's GIF was more detailed, resembling a portrait of Argentina&#8217;s former first lady and social justice champion Eva Perón, better known as Evita.&nbsp;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://t.co/1FuwjVGiQK">pic.twitter.com/1FuwjVGiQK</a>
&mdash; Kaal (@kaaldhairya) <a href="https://twitter.com/kaaldhairya/status/1787757852024594922?ref_src=twsrc%5Etfw">May 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The cryptic messaging set off speculations and conjectures among the community, with most believing that it signaled potential investments in Argentina. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Humm, <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> said to invest in Argentina, Evita bornt on 7th, May&#8230; Today &#x1f914;&#x1f914;&#x1f914; like <a href="https://twitter.com/ShytoshiKusama?ref_src=twsrc%5Etfw">@ShytoshiKusama</a> always said &quot;connecting the dots&quot;&#8230;
&mdash; LightWorker&#x2728; (@PedroCard12) <a href="https://twitter.com/PedroCard12/status/1787779529047498923?ref_src=twsrc%5Etfw">May 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: These developments happened alongside a <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38659381/elon-musk-meets-bitcoin-supporting-president-javier-milei-again-i-recommend-investing-in-a">meeting </a>between Tesla and SpaceX CEO Elon Musk and Argentina president Javier Milei, after which the tech czar endorsed investments in the country.&nbsp;
President Milei has been an avid advocate of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and pitched its scarcity-driven model against the central bank's monetary policy in his election campaigns last year.
While the community may wish to link the dots, it is critical to recognize that Shiba Inu&#8217;s imagery reflected Evita&#8217;s Peronism, a movement that is currently the biggest opposition force to President Milei&#8217;s right-wing policies.&nbsp;
Time will tell about the real motive and nature of the messaging. But endorsements by big names in the cryptocurrency industry reflected Argentina's growing appeal as a crypto-friendly destination.
Price Action: SHIB was exchanging hands at $0.00002289 at the time of writing, following a 3.05% decline in the last 24 hours, according to data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>. 
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38678701/dogecoin-is-the-og-meme-coin-and-a-billboard-for-pepe-and-wif-but-forget-shib-trader-excla">Dogecoin Is The &#8216;OG&#8217; Meme Coin And A &#8216;Billboard&#8217; For PEPE And WIF, But: &#8216;Forget SHIB,&#8217; Trader Exclaims</a>

$BTC

$SHIB

Shiba Inu Lead Shytoshi Kusama Shares Cryptic 'EVITA' Teaser: A Sign of Potential Investments In Argentina?

Reported Earlier, Mediaalpha's Secondary Offering Priced At $19/Share; White Mountains To Sell Over 4M Shares

With U.S. stock futures trading mixed this morning on Wednesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Emerson Electric Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMR#NYSE">EMR</a>) to report quarterly earnings at $1.25 per share on revenue of $4.29 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Emerson Electric shares rose 1.2% to $108.70 in after-hours trading.</li>
<li>Lyft, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>) posted stronger-than-expected sales for its first quarter. The company saw second-quarter gross bookings of between approximately $4 billion and $4.1 billion, adjusted EBITDA of between $95 million and $100 million and an adjusted EBITDA margin of approximately 2.4%. Lyft shares gained 6.3% to $17.65 in the after-hours trading session.</li>
<li>Analysts are expecting Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) to post quarterly earnings at 23 cents per share on revenue of $10.11 billion. The company will release earnings before the markets open. Uber shares gained 2.9% to $72.45 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a> 
<ul>
<li>Sturm, Ruger &amp; Company, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RGR#NYSE">RGR</a>) posted downbeat results for its first quarter on Tuesday. The company reported GAAP earnings of 40 cents per share, missing estimates of 87 cents per share. Its sales came in at $136.800 million, down from expectations of $153.398 million. Sturm, Ruger shares fell 5% to $44.00 in the after-hours trading session.</li>
<li>Analysts expect Teva Pharmaceutical Industries Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>) to post quarterly earnings at 51 cents per share on revenue of $3.73 billion before the opening bell. Teva shares rose 0.4% to $14.00 in after-hours trading.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/05/38667879/jim-cramer-calls-nutanix-the-perfect-enterprise-software-company-for-the-moment">Jim Cramer Calls Nutanix &#8216;The Perfect Enterprise Software Company For The Moment</a>&#8216;

Earnings

Pre-Market Outlook

LYFT

TEVA

UBER

Uber, Lyft And 3 Stocks To Watch Heading Into Wednesday

Moomoo officially launched its brokerage business in Japan in September 2023. It started offering U.S. stock trading in the same month, and subsequently launched Japanese stock trading in Japan in March 2024. 
&nbsp;
Futu&#39;s wholly-owned subsidiary, Moomoo Securities Japan Co., Ltd., holds the Financial Instruments Business Operators (FIBO) license in Japan. It is also a member of Japan Securities Dealers Association (JSDA), Japan Investment Advisers Association (JIAA), Tokyo Stock Exchange and Osaka Securities Exchange.

FUTU

Reported Earlier, Futu's Moomoo App Reaches One Million Downloads In Japan

Ecopetrol Q1 Net Income Attributable To Owners COP 4.012T Down From COP 5.660T YoY, Sales COP 31.30T Down From COP 38.854T YoY

The United States has revoked the export licenses of Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) and Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) to sell chips to China&#8217;s Huawei Technologies Co Ltd.
What Happened: The U.S. Commerce Department has revoked the licenses that allowed Intel and Qualcomm, among others, to export chips used in laptops and handsets to Huawei, Reuters reported citing people familiar with the matter. The licenses were reportedly withdrawn with immediate effect.
The move comes after the recent launch of Huawei&#8217;s first AI-enabled laptop, the MateBook X Pro, powered by Intel&#8217;s new Core Ultra 9 processor. This launch drew criticism from Republican lawmakers, who suggested that the Commerce Department had approved Intel to sell the chip to Huawei.
&#8220;We have revoked certain licenses for exports to Huawei,&#8221; the Commerce Department said.
The Commerce Department&#8217;s decision, which was influenced by Republican China hawks in Congress, aims to strengthen U.S. national security and limit China&#8217;s technological advancements, according to the report.
&#8220;This action will bolster U.S. national security, protect American ingenuity, and diminish Communist China's ability to advance its technology,&#8221; Rep. Elise Stefanik (R-NY) said.
See Also: <a href="https://www.benzinga.com/news/24/05/38632767/ex-doj-attorney-says-former-trump-aides-testimony-sinks-ex-presidents-criminal-defense-big-fat-nail?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ex-DOJ Attorney Says Former Trump Aide&#8217;s Testimony Sinks Ex-President&#8217;s Criminal Defense: &#8216;Big Fat Nail In The Coffin&#8217;</a>
The revocation of these licenses could have a significant impact on Huawei, which heavily relies on Intel chips for its laptops, as well as on U.S. suppliers doing business with the company.
Intel and Qualcomm did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
Why It Matters: The U.S. has been actively implementing measures to restrict China&#8217;s access to advanced chip technology. Despite these efforts, Chinese entities have reportedly <a href="https://www.benzinga.com/markets/asia/24/04/38369354/nvidias-high-end-chips-ended-up-in-chinese-hands-despite-us-ban-heres-how-beijing-scored-them">managed to acquire</a> high-end NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) chips through third-party vendors.
In March, the U.S. government announced plans to release a list of Chinese chipmaking facilities that would be <a href="https://www.benzinga.com/news/24/03/38001201/us-to-unveil-list-of-chinese-chip-factories-banned-from-receiving-key-tech-report">prohibited from receiving crucial tools</a>, a move that could significantly impact the global semiconductor industry.
Despite these tensions, China remains a crucial market for U.S. semiconductor firms, with companies like Intel, Qualcomm, and Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) <a href="https://www.benzinga.com/news/24/04/38219726/despite-us-china-tensions-beijing-remains-crucial-market-for-nvidia-intel-and-other-american-chipmak">reporting greater revenues</a> from China than from the U.S..
Read Next: <a href="https://www.benzinga.com/news/24/05/38661657/trumps-niece-says-ex-presidents-support-within-party-waning-after-republican-defectors-bold-move-to?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Niece Says Ex-President&#8217;s Support Within Party Waning After Republican Defector&#8217;s Bold Move To Biden Camp: &#8216;Sign Of More Good Things To Come&#8217;</a>
Image Via Shutterstock 
<hr class="wp-block-separator has-alpha-channel-opacity" />
Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
<hr class="wp-block-separator has-alpha-channel-opacity" />
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
<hr class="wp-block-separator has-alpha-channel-opacity" />

Politics

Tech

AVGO

INTC

NVDA

QCOM

Intel, Qualcomm Export Licenses Revoked By US, Tech Giants Won't Be Able To Sell Chips To Huawei: Report

IRSA Inversiones y (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IRS#NYSE">IRS</a>) reported quarterly losses of $(0.59) per share. This is a 164.13 percent decrease over earnings of $0.92 per share from the same period last year. The company reported $134.53 million in sales this quarter. This is a 12.06 percent increase over sales of $120.06 million the same period last year.

IRSA Inversiones y Q3 EPS $(0.59) Down From $0.92 YoY, Sales $134.53M Up From $120.06M YoY

Karat Packaging Inc.&nbsp;board of directors approved the payment of a regular quarterly dividend of&nbsp;$0.35&nbsp;per share on the Company&#39;s common stock, reflecting an increase from the previous quarterly dividend of&nbsp;$0.30&nbsp;per share.
The dividend is payable on or about May 24, 2024, to the stockholders of record at the close of business on May 17, 2024.

Dividends

Reported Earlier, Karat Packaging Increased Its Quarterly Dividend From $0.30/Share To $0.35/Share, Payable May 24, 2024

<a target="_blank" href="https://www.benzinga.com/general/entertainment/24/04/38340081/how-much-will-taylor-swifts-net-worth-grow-with-the-tortured-poets-department" rel="noreferrer noopener">Taylor Swift</a>&#8216;s concerts in Paris are reportedly drawing more American tourists than the 2024 Summer Olympics, data from luxury travel agency Embark Beyond reveals.
What Happened:&nbsp;According to a&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-05-08/taylor-swift-draws-more-luxury-us-travelers-to-paris-than-the-olympics" rel="noreferrer noopener">Bloomberg</a>&nbsp;report on Thursday, Swift&#8217;s four performances at La Défense Arena — which has a maximum seating capacity of 40,000 — are seeing a&nbsp;larger&nbsp;influx of U.S. visitors compared to the Paris Olympics.&nbsp;
The agency indicates that Swift&#8217;s concerts are pulling in five times as many Americans as the global sporting event, which is surprising given the magnitude of the Olympics.
The pop superstar is in the French capital for the European leg of her "Eras Tour."&nbsp;
Jack Ezon, co-founder of Embark Beyond, was reportedly taken aback by the shift in travel trends, commenting, &#8220;Look at what Taylor did to the Super Bowl. She's even overshadowing the Olympics."
Despite ticket resale restrictions in European cities like Paris, Swift&#8217;s concerts are causing a significant surge in U.S. tourists.&nbsp;
Ezon&#8217;s company has organized over 200 Paris trips for Swift&#8217;s fans, typically involving a three-night stay at luxury hotels.
See Also:&nbsp;<a href="https://www.benzinga.com/money/best-media-diversified-stocks" target="_blank" rel="noreferrer noopener">Best Media Diversified Stocks Right Now</a>
Contrastingly, the demand for the Olympic Games seems to be lower than expected, with hotel rates falling by over 30% in the past half-year, according to travel insights firm Lighthouse.
Why It Matters:&nbsp;Swift&#8217;s ability to draw a crowd is unsurprising, given her monumental success in the music industry. Her &#8220;Eras Tour&#8221; is the&nbsp;<a target="_blank" href="https://www.benzinga.com/general/entertainment/23/10/35256829/taylor-swifts-eras-tour-projected-to-rake-in-absurd-amount-and-rank-her-above-these-notable" rel="noreferrer noopener">most profitable concert series</a>&nbsp;in U.S. history, contributing billions to the economy.&nbsp;
In fact,&nbsp;her influence is so&nbsp;big&nbsp;that&nbsp;<a target="_blank" href="https://www.benzinga.com/news/23/07/33319642/the-federal-reserve-reveals-taylor-swifts-concert-tour-and-swifties-are-giving-the-economy-a-major-b" rel="noreferrer noopener">even the Federal Reserve</a>&nbsp;mentioned that her concerts and fans are giving the economy a major boost amid uncertain times.
Swift&#8217;s &#8220;Eras Tour&#8221; has also boosted businesses like&nbsp;<a target="_blank" href="https://www.benzinga.com/general/entertainment/24/02/36998327/uber-ceo-acknowledges-taylor-swift-effect-says-ride-hailing-giant-definitely-ups-its-game-w" rel="noreferrer noopener">Uber</a>, whose CEO confirmed the existence of the "Taylor Swift effect&#8221; during her concerts.
Swift&#8217;s success has&nbsp;been further amplified&nbsp;by her latest album, &#8220;<a target="_blank" href="https://www.benzinga.com/general/entertainment/24/04/38362990/taylor-swifts-the-tortured-poets-department-hits-1-6m-us-sales-sets-spotify-on-fire-with-ov" rel="noreferrer noopener">The Tortured Poets Department</a>&#8220;,&nbsp;which broke records on Spotify and sold 1.6 million units in the U.S. on its first day.
Last year&nbsp;the&nbsp;music industry witnessed a&nbsp;<a target="_blank" href="https://www.benzinga.com/trading-ideas/long-ideas/24/03/37969112/taylor-swift-had-a-monster-year-as-did-the-music-industry-global-recorded-music-revenue-" rel="noreferrer noopener">10.2% annual growth</a>, with Swift&nbsp;
generating a whopping $1.82 billion by herself — more than many corporations.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/05/38691711/warren-buffett-admits-no-one-knows-how-to-use-berkshires-189b-cash-pile-effectively-just-because-thi" target="_blank" rel="noreferrer noopener">Warren Buffett Admits No One Knows How To Use Berkshire&#8217;s $189B Cash Pile Effectively Just Because &#8216;Things Aren&#8217;t Attractive&#8217; Right Now</a>
Photo via Shutterstock
<div style="font-family: 'Lato', sans-serif">
<hr style="border: 0;height: 5px;background: #225aa9" />
<div style="background-color: #f5f5f5;background-position: center;background-size: cover;justify-content: center"></div>

 Engineered by 
 Benzinga Neuro, Edited by 
 
 <a href="None" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none"> 
 Ramakrishnan M</a> 
 
 
<hr style="border: 0;height: 1px;background: #225aa9" />

 The GPT-4-based Benzinga Neuro content generation system exploits the 
 extensive Benzinga Ecosystem, including native data, APIs, and more to 
 create comprehensive and timely stories for you. 
 <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Learn more.</a>
 
<hr style="border: 0;height: 5px;background: #225aa9" />
 </div>

Entertainment

Sports

Economics

Media

Taylor Swift 1-0 2024 Olympics: Pop Star's Paris 'Eras Tour' Leg Eclipses World's Biggest Sporting Event In Drawing American Tourists

Telefonica Brasil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIV#NYSE">VIV</a>) reported quarterly earnings of $0.11 per share which met the analyst consensus estimate. This is a 14.58 percent increase over earnings of $0.10 per share from the same period last year. The company reported quarterly sales of $2.74 billion which beat the analyst consensus estimate of $2.57 billion by 6.50 percent. This is a 11.81 percent increase over sales of $2.45 billion the same period last year.

Telefonica Brasil Q1 EPS $0.11, Inline, Sales $2.74B Beat $2.57B Estimate

NANO Nuclear&#39;s common stock has been approved for listing and is expected to begin trading on the Nasdaq Capital Market under the symbol&nbsp;&quot;NNE&quot;&nbsp;on Wednesday, May 8, 2024.
The offering is expected to close on May 10, 2024, subject to customary closing conditions.

IPOs

Reported Earlier, NANO Nuclear Energy Prices Initial Public Offering Of 2,562,500 Common Shares At $4/Share

ICC Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICCH#NASDAQ">ICCH</a>) reported quarterly earnings of $0.75 per share. This is a 41.51 percent increase over earnings of $0.53 per share from the same period last year. The company reported $23.08 million in sales this quarter. This is a 17.65 percent increase over sales of $19.62 million the same period last year.

ICCH

ICC Holdings Q1 EPS $0.75 Up From $0.53 YoY, Sales $23.08M Up From $19.62M YoY

Fortuna Silver Mines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSM#NYSE">FSM</a>) reported quarterly earnings of $0.09 per share which beat the analyst consensus estimate of $0.05 by 80 percent. This is a 80 percent increase over earnings of $0.05 per share from the same period last year. The company reported quarterly sales of $224.900 million which missed the analyst consensus estimate of $226.000 million by 0.49 percent. This is a 28.00 percent increase over sales of $175.700 million the same period last year.

Earnings Beats

Earnings Misses

Fortuna Silver Mines Q1 2024 Adj EPS $0.09 Beats $0.05 Estimate, Sales $224.900M Miss $226.000M Estimate

The first crewed flight test of Boeing Co&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) Starliner spacecraft to the International Space Station will now be launched no earlier than May 17, NASA said on Tuesday, after the <a href="https://www.benzinga.com/markets/equities/24/05/38659763/boeings-starliner-crewed-test-flight-postponed-due-to-technical-issue-continuing-challenges-in-s">launch planned for Monday</a> was halted. 
What Happened: The launch planned for Monday was halted after an issue was identified with the Atlas V rocket that was supposed to carry the spacecraft to orbit.
United Launch Alliance, the company operating the rocket, has decided to replace a pressure regulation valve on the liquid oxygen taken on the rocket&#8217;s Centaur upper stage, NASA said, while adding that the launch is now planned for no earlier than 6:16 p.m. EDT Friday, May 17.
The replacement will begin on Wednesday, May 8, and ULA will also perform leak checks and functional checkouts ahead of the next launch. The two astronauts slated to undertake the flight, Suni Williams and Barry "Butch" Wilmore will remain in quarantine at NASA Kennedy crew quarters in the meantime, the agency said. 
Why It Matters: Boeing's Starliner spacecraft has been faced with several delays since the start. The spacecraft was supposed to have its first uncrewed test flight in 2015 which was delayed up to 2019. In 2022, the spacecraft completed its first uncrewed flight to the International Space Station.
If the upcoming crewed flight test is successful, Boeing will become the next private company to shuttle astronauts to and from the ISS for NASA, like Elon Musk's SpaceX.
NASA awarded both Boeing and SpaceX contracts to enable to and from transportation to the ISS after retiring its space shuttle.&nbsp;SpaceX sent its first crewed mission to the ISS in 2020 on its Dragon spacecraft and has since then undertaken multiple missions, <a href="https://www.benzinga.com/news/24/05/38664485/spacex-ceo-elon-musk-blames-boeings-starliner-delay-on-too-many-non-technical-managers">overtaking its traditional rival</a>.
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 More:&nbsp;<a href="https://www.benzinga.com/news/24/05/38663810/lucid-ceo-throws-down-the-gauntlet-with-48k-ev-plan-to-take-on-teslas-dominance-wait-until-our-midsi">Lucid CEO Throws Down The Gauntlet With $48K EV Plan To Take On Tesla&#8217;s Dominance: &#8216;Wait Until Our Midsize Comes Out In Late 2026&#8217;</a>
Photo via Shutterstock

SPACE

Boeing Starliner Delays Continue: Crewed Flight Test To Occur No Earlier Than May 17, Says NASA

Investment guru Warren Buffett offered a few insights into Berkshire Hathaway, Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) plans for its swelling cash hoard at the <a href="https://www.benzinga.com/news/24/05/38632849/charlie-and-i-warren-buffett-reminisces-about-late-friend-whom-he-credits-as-architect-of-todays-ber">firm&#8217;s annual shareholder meeting on Saturday.</a>
Cash Is King: Buffett was asked about potentially investing some of its $189 billion cash reserves and the billionaire had a simple reply: &#8220;I don&#8217;t think anybody sitting at this table has any idea of how to use it effectively and therefore we don&#8217;t we don&#8217;t use it.&#8221;
This is despite the prevailing higher interest rate environment, he suggested. &#8220;We don&#8217;t use it now at 5.4% but wouldn&#8217;t use it if it was at 1%,&#8221; he said. Buffett was referring to the Fed funds rate, which is currently at 5.25%-5.50%, with the mid-point working out to 5.375%.
Buffett&#8217;s sense of humor was in full flow, with the Berkshire chief remarking jestingly, &#8220;Don&#8217;t tell the Federal Reserve that.&#8221;
See Also:<a href="https://www.benzinga.com/markets/equities/24/05/38633307/warren-buffett-comments-on-whether-elon-musks-fsd-will-impact-berkshires-auto-insurance-business"> Warren Buffett Comments On Whether Elon Musk&#8217;s FSD Will Impact Berkshire&#8217;s Auto Insurance Business. Will Oracle Of Omaha Bet On Tesla?</a>
Choosy Strategy: He also made it clear that the investment option should appeal to him and he usually does not rush into things. &#8220;We only swing pitches we like and if anybody tried to swing at every pitch or felt that, because they hadn&#8217;t swung at a pitch for two, for the last two pitches, they ought to swing at the third one, or something like that, it&#8217;s just, there are times and obviously, but I would say this &#8211; I would not like to be running $10 billion now, $10 million I think, we could.&#8221;
 Referring to the now-deceased Charlie Munger, Buffett said they could earn high returns because they both thought there are just a few things that happen on a very, very small scale. &#8220;But if we had $10 billion, we wouldn&#8217;t basically see many more opportunities than we found now,&#8221; he said.
He seemingly alluded to the current lofty valuations amidst the market&#8217;s record run. Buffett has few options at his disposal to deploy Berkshire&#8217;s substantial cash reserves. The value investment philosophy that Buffett champions involves purchasing stocks that are undervalued compared to their intrinsic worth.
Buffett, however, sounded positive about Japanese bets. &#8220;It&#8217;s true that something like Japan, we could have done, if the company had $30 billion or $40 billion,&#8221; he said, adding that they could have had great returns on equity.
 &#8220;But if I saw one of those now, I&#8217;d do it for Berkshire,&#8221; he said.
Incidentally, Berkshire made a combined $6 billion bet in five Japanese trading houses in the summer of 2020 amid the pandemic. Explaining the rationale, Munger said in 2023 that the firm was able to borrow cheaply, thanks to the ultra-loose monetary policy in Japan, and plow the cash into stocks that paid about 5% dividend each year. 
Buffett said he was not willfully staying away from deploying cash. &#8220;It isn&#8217;t like I got a hunger strike or something like that going on. It&#8217;s just that things aren&#8217;t attractive,&#8221; he said.
&#8220;There are certain ways that can change and we&#8217;ll see whether they do.&#8221;
Incidentally, Tesla CEO <a href="https://www.benzinga.com/markets/equities/24/05/38635317/its-an-obvious-move-elon-musk-nudges-warren-buffett-again-to-take-position-in-tesla-heres-why-th">Elon Musk has been frantically trying to attract an investment from Berkshire.</a> Every time a social media user comments about Berkshire&#8217;s cash pile, he openly asks that Buffett plow some of it into his electric vehicle company.
Read Next:<a href="https://www.benzinga.com/money/how-to-invest-in-startups"> How to Invest in Startups</a>
Photo via Shutterstock

Education

Warren Buffett Admits No One Knows How To Use Berkshire's $189B Cash Pile Effectively Just Because 'Things Aren't Attractive' Right Now

Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) has underperformed relative to Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) in the ongoing cycle, with the listing of Bitcoin spot ETFs proving to be the difference.&nbsp;
What Happened:  Bitcoin broke past its all-time high last month, spurred by significant demand for new investment vehicles that track its spot price. The King Coin was up 47% on a year-to-date basis, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
However, this pattern did not hold for Ethereum, which failed to go anyway near its 2021 peak this cycle. Its year-to-date gains have been comparatively mild at 32%.&nbsp;
According to on-chain analytics firm Glassnode, Bitcoin's Short-Term Holders Realized Cap was almost on par with the last bull run peak. On the other hand, Ethereum's STH-Realized Cap was less than half of the previous cycle.&nbsp;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">There has been a growing divergence in performance between <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> and <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> during the 2023-23 cycle thus far. This has manifested as weaker price performance for ETH, and can be explained by an overall weaker capital rotation trend, especially relative to past cycles and… <a href="https://t.co/WV1bXsbJkV">pic.twitter.com/WV1bXsbJkV</a>
&mdash; glassnode (@glassnode) <a href="https://twitter.com/glassnode/status/1787851484878536711?ref_src=twsrc%5Etfw">May 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Put simply, short-term holders, or newer market entrants, have shown far greater interest in Bitcoin, while new capital inflows into Ethereum have been lackluster.&nbsp;
Why It Matters: The launch of new spot Bitcoin ETFs made investing in cryptocurrencies easier, providing greater access to newer market participants, Glassnode noted. 
Ethereum, on the other hand, was still in a wait-and-watch mode with a decision regarding its <a href="https://www.benzinga.com/money/what-is-ethereum-etf">spot ETFs</a> due to come later this month.&nbsp;
British multinational bank Standard Chartered which had initially forecasted approval by May, <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38400241/spot-ethereum-etf-approval-unlikely-but-bad-news-already-priced-in-standard-chartered">reversed its stance</a> last month, Bloomberg ETF analyst Eric Balchunas too echoed the pessimistic statement last month
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Great summary of all the action.. which looks like a final nudge to try and get the SEC&#39;s attention, altho most likely in vain. We were pessimistic on approval bf it was cool and we&#39;re pessimistic now too. <a href="https://t.co/xHcTW7FYiT">https://t.co/xHcTW7FYiT</a>
&mdash; Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1782873202487631968?ref_src=twsrc%5Etfw">April 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Ethereum's status has become the major sticking point, with the SEC allegedly launching a covert operation to brand the cryptocurrency as a security.
If Ethereum is officially declared a security, it could adversely impact sentiment and investments around the coin, resulting in a potential price crash.&nbsp;
Price Action: Ethereum was exchanging hands at $3,015.99 at the time of writing, dropping by 1.56% in the last 24 hours, according to data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>. 
Photo by Kanchanara on Unsplash
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38690365/pro-bitcoin-president-javier-mileis-argentina-introduces-10-000-peso-notes-as-it-combats-h">Pro-Bitcoin President Javier Milei&#8217;s Argentina Introduces 10,000-Peso Notes As It Combats Hyperinflation, Currency Collapse</a>

$ETH

Spot The Difference In YTD Returns? Why Ethereum Is Trailing Bitcoin In 2024

Jim Cramer, the host of CNBC&#8217;s &#8220;Mad Money,&#8221; has warned investors about the current state of the economy and suggested strategies to navigate the challenging period.
What Happened: Cramer, in his recent show, highlighted the importance of maintaining a balanced portfolio amid the ongoing economic slowdown, <a href="https://www.cnbc.com/2024/05/07/cramer-how-to-maintain-a-balanced-portfolio-as-the-economy-slows.html">reported</a> CNBC on Tuesday. He urged investors to be prepared for potential losses and suggested diversifying their holdings.
"I'm not telling you to relax, I don't do that on this show — not with the averages so close to all-time highs," he said. "I'm just saying we are going into the valley of death here, and you should fear no evil as long as you have a balanced portfolio."
Cramer specifically recommended stocks that are less reliant on the overall health of the economy. He mentioned tech giants NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</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 Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), along with pharmaceutical companies Merck &amp; Co Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) and Pfizer Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>). 
He also advised considering companies like Builders FirstSource, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLDR#NASDAQ">BLDR</a>), which are expected to benefit from potential future rate cuts by the Federal Reserve.
Despite the current economic climate, Cramer cautioned against investing solely in companies that rely on rate cuts, as this could lead to significant losses. He also advised against focusing exclusively on tech and pharmaceutical stocks, as these could underperform when the Fed eventually reduces rates.
See Also: <a href="https://www.benzinga.com/partner/biotech/24/05/38581323/ai-in-orthopedic-surgery-how-leveraging-ai-could-improve-surgical-outcomes?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">AI In Orthopedic Surgery: How Leveraging AI Could Improve Surgical Outcomes</a>
Why It Matters: The U.S. economy&#8217;s future is uncertain, with various factors influencing its trajectory. The <a href="https://www.benzinga.com/news/24/05/38690987/can-jerome-powell-escape-the-pressure-of-politics-and-the-2024-election-he-has-to-do-magic-says-mark">2024 presidential election</a> is adding to the pressure on the Federal Reserve, with doubts being raised about its ability to remain independent of political influence. The Fed&#8217;s Chairman, Jerome Powell, is under intense scrutiny as the election approaches.
Despite the economic slowdown, the U.S. economy has been a major <a href="https://www.benzinga.com/news/24/02/37355330/can-the-us-continue-to-be-a-driver-of-global-economic-growth-mohamed-el-erian-says-automaticity-of-a">driver of global growth</a>. However, this position is being questioned due to domestic political divisions, global uncertainties, and the need for sufficient liquidity to refinance debts accumulated during periods of low-interest rates and high liquidity injections by central banks, as highlighted by economist Mohamed El Erian.
Moreover, the traditional Wall Street adage &#8220;sell in May and go away&#8221; <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38572139/sell-in-may-and-go-away-a-fading-tradition-in-stock-market">may not hold this year</a>, with strong evidence of positive stock market performance during the historically weak May-October period. This suggests that selling stocks in May based on historical trends might not be the best strategy.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38660535/expert-slams-starbucks-ceos-response-to-falling-stock-performance-you-got-to-be-on-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Expert Slams Starbucks CEO&#8217;s Response To Falling Stock Performance: &#8216;You Got To Be On Drugs To Say Something Like That On National Television&#8217;</a>
Image Via Shutterstock 
<hr class="wp-block-separator has-alpha-channel-opacity" />
Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
<hr class="wp-block-separator has-alpha-channel-opacity" />
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
<hr class="wp-block-separator has-alpha-channel-opacity" />

Federal Reserve

AAPL

BLDR

GOOG

GOOGL

Jim Cramer Advises Investors To Brace For Economic Slowdown, Shares Tips To Maintain Balanced Portfolio: 'I'm Not Telling You To Relax'

EV giant Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) will shut down production at its Berlin gigafactory for just a day this week, an executive confirmed, <a href="https://www.benzinga.com/top-stories/24/05/38680302/tesla-will-temporarily-stop-production-at-german-gigafactory-heres-why">contrary to initial reports </a>which said the halt would last for four days.
What Happened: Andre Thierig, Senior Director of Manufacturing at Giga Berlin, confirmed on social media platform X that the shutdown will only be for a day. 
&#8220;Correct. One day planned production shutdown,&#8221; Thierig wrote. Initial reports pegged the shutdown at four days, including the weekends when no production is carried out at the factory and Thursday, a public holiday in the country.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Correct. One day planned production shutdown.
&mdash; André Thierig (@AndrThie) <a href="https://twitter.com/AndrThie/status/1787911294923702349?ref_src=twsrc%5Etfw">May 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
German business newspaper Handelsblatt said the shutdown is due to protests against the company&#8217;s expansion efforts at the gigafactory.
Employees have been told to work from home and those in production will have a bridge day on Friday. There will be no buses or trains running to the factory from Thursday through Sunday and production will begin again with the night shift on Sunday after ending with the late shift on Wednesday, according to the newspaper.
Why It Matters: Local citizens near Tesla's gigafactory in Berlin<a href="https://www.benzinga.com/news/24/02/37230245/trees-trump-tesla-in-germany-locals-say-nein-to-ev-giants-berlin-gigafactory-expansion-plans"> voted against the EV giant's intention</a> to cut trees to make space for its factory expansion in February, posing a significant challenge to Tesla&#8217;s plans to double the plant&#8217;s capacity for battery production to 100-gigawatt hours and car production to 1 million units annually. 
In March, an arson attack on the factory caused a power outage and halted production for about a week. Far-left activist organization Vulkan Group claimed the attack and said it was <a href="https://www.benzinga.com/news/24/03/37528386/tesla-senior-exec-fires-back-after-arson-attack-warns-of-green-capitalism-says-ev-giant-creates-most">spurred by environmental concerns.</a>
&#8220;We sabotaged Tesla today.&nbsp;Because Tesla in Grünau eats up earth, resources, people, labor and spits out 6,000 SUVs, killing machines and monster trucks per week.&nbsp;Our gift for March 8th is to shut down Tesla,&#8221; the group said in a statement. 
As per data by the European Automobile Manufacturers Association, Tesla&#8217;s new car registrations in the European Union fell by 4.7% in the first quarter to 66,203 units. 
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 More: <a href="https://www.benzinga.com/news/24/05/38664485/spacex-ceo-elon-musk-blames-boeings-starliner-delay-on-too-many-non-technical-managers">SpaceX CEO Elon Musk Blames Boeing&#8217;s Starliner Delay On &#8216;Too Many Non-Technical Managers&#8217;</a>
Photo courtesy: Tesla

TSLA

Tesla's Giga Berlin Shuts Down... But Not For As Long As You Thought: Senior Exec Clarifies

Renowned musician and tech entrepreneur William Adams, professionally known as Will.i.am, recently expressed concerns that over-regulation of artificial intelligence (AI) could potentially hinder innovation. 
What Happened: In a conversation with Brian Sullivan on &#8220;Last Call&#8221; by <a href="https://www.cnbc.com/video/2024/05/07/global-music-artist-will-i-am-over-regulating-ai-will-stop-innovation.html">CNBC</a> on Thursday, Will.i.am highlighted the significance of safeguarding intellectual property. The founder and CEO of Focus Your Ideas (FYI), a productivity tool for creatives, cautioned, &#8220;Over-regulating, over-governance will stop innovation.&#8221;
He further elaborated that the current convergence of technology and creativity necessitates innovative use of such technology. He observed that the recording industry has seen considerable changes over time, redefining the concept of a &#8220;song&#8221;.
See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38635874/elon-musk-is-astonished-by-warren-buffetts-berkshire-hathaway-amassing-as-much-cash-as-tesla-ceo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Is Astonished By Warren Buffett&#8217;s Berkshire Hathaway Amassing As Much Cash As Tesla CEO&#8217;s Wealth: &#8216;Wow&#8217;</a>
Why It Matters: Will.i.am&#8217;s remarks come amidst an escalating debate on AI regulation. His perspective emphasizes the need to strike a balance between promoting innovation and ensuring the ethical application of technology. This conversation is particularly relevant in light of recent events in the music industry.
In April, over 200 artists including Billie Eilish and Katy Perry, <a href="https://www.benzinga.com/general/entertainment/24/04/38060686/over-200-artists-including-billie-eilish-and-katie-perry-demand-ai-respect-for-music-rights">called for AI to respect music rights</a>. This followed a <a href="https://www.benzinga.com/general/entertainment/23/10/35335240/universal-music-sues-ai-startup-anthropic-over-copyright-infringement">copyright infringement lawsuit</a> by Universal Music Group NV (UMGNF), Concord and ABKCO against AI startup, Anthropic, in October 2023.
Moreover, the advent of tools like Adobe&#8217;s Project Music GenAI Control which uses AI to generate music from text prompts, further underscores the need for balanced regulation in this rapidly evolving field.
Read Next: <a href="https://www.benzinga.com/news/24/05/38664076/elon-musk-says-there-should-be-more-to-life-than-just-solving-one-problem-after-another-if-you-ask-a?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says There Should Be More To Life Than Just &#8216;Solving One Problem After Another:&#8217; &#8216;If You Ask A Kid Anywhere Around The World&#8230;&#8217;</a>
Image by Bob Bekian via Shutterstock
<div style="font-family: 'Lato', sans-serif">
<div>
<hr style="border: 0;height: 5px;background: #225aa9" />
<div style="background-color: #f5f5f5;background-position: center;background-size: cover;justify-content: center"></div>

 Engineered by Benzinga Neuro, Edited by 
 <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Pooja Rajkumari</a> 
 
 
<hr style="border: 0;height: 1px;background: #225aa9" />

 The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. 
 <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Learn more.</a>
 
<hr style="border: 0;height: 5px;background: #225aa9" />
 </div>
</div>

Will.I.Am Calls For Balanced AI Regulation As Music Artists Demand Protection From Technology: 'Over-Regulating, Over-Governance Will Stop Innovation'

Macro Economic Events

Econ #s

Germany Industrial Production (MoM) For March -0.4% Vs. -0.6% Est.; 1.7% (Revised) Prior

Press Releases

Innovation Pharma Announces BeaMed Technologies Breakthrough in Development of Fiber Optic Probes for StingRay Laser System; Paves Way for Groundbreaking Integration Testing

Innovation Pharmaceuticals Provides Update on U.S. Patent Applications Covering Use of Brilacidin in Inflammatory Bowel Diseases, Coronaviruses and Fungal Diseases

Innovation Pharmaceuticals Announces New Milestone at BeaMed; On Track to File 510(k) Submission to FDA in Q2 2024

Innovation Pharma