JDE Peets (OTC:JDEPY) Stock, Quote.Headers.trade-ideas

Formed by a merger of D.E. Master Blenders and Mondelez International's coffee assets in 2015 and augmented by the acquisition of Peet's Coffee in 2019, JDE Peet's is the world's largest pure-play coffee and tea group by revenue, with operations in more than 100 developed and emerging countries. Its portfolio of over 50 brands includes global labels such as Peet's, Jacobs, L'Or, Senseo, Tassimo, and Pickwick; regional brands like Douwe Egberts, Stumptown, Kenco, Moccona, Intelligentsia, OldTown, Super, and Ofcay; and local marques such as Maison du Cafe in France, Harris in Australia, and Mighty Leaf Tea in the U.S. Offerings reach across the CPG, out-of-home, retail, and online channels. JDE Peet's was first listed in 2020, with Acorn Holdings and Mondelez owning the majority of shares.

JDE Peets NV

News

ENLT

Enlight Renewable Energy Announced The Initial Start Of Commercial Operations At Its Atrisco Solar & Energy Storage Project Outside Albuquerque, New Mexico

COHR

Coherent Announced New Additions To Its Optical Communications Test Portfolio With The Launch Of New High-port-count Instruments In The WaveShaper Family And Enhanced Offerings In The WaveMaker Family

Macro Economic Events

Econ #s

Economics

Germany 10-Year Bund Auction 2.110%	Vs. 2.220% Prior

Ascendiant Capital analyst Edward Woo maintains Surgepays (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SURG#NASDAQ">SURG</a>) with a Buy and lowers the price target from $9.5 to $9.

Price Target

Analyst Ratings

SURG

Ascendiant Capital Maintains Buy on Surgepays, Lowers Price Target to $9

Needham analyst Kyle Peterson reiterates Trinet Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNET#NYSE">TNET</a>) with a Buy and maintains $140 price target.

Reiteration

TNET

Needham Reiterates Buy on Trinet Group, Maintains $140 Price Target

Ascendiant Capital analyst Edward Woo maintains Duos Technologies Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DUOT#NASDAQ">DUOT</a>) with a Buy and raises the price target from $5.75 to $6.

DUOT

Ascendiant Capital Maintains Buy on Duos Technologies Group, Raises Price Target to $6

Tech billionaire Bill Gates has expressed deep concerns about the possibility of another pandemic in the near future.
What Happened: Gates highlighted that current global unrest could potentially lead to a significant conflict, in an interview <a href="https://www.cnbc.com/2024/09/09/bill-gates-on-what-keeps-him-up-at-night-war-another-pandemic.html">with</a> CNBC Make It. He also emphasized that even if a large-scale war is avoided, another pandemic is highly likely within 
"A lot of unrest" in the world could spark "a major war," Gates said. Even "if we avoid a big war &#8230; then, yes, there will be another pandemic, most likely in the next 25 years,&#8221; he said in the interview.
Gates pointed out that pandemics are becoming more frequent due to factors such as climate change and population growth. He questioned whether nations would be better prepared for the next pandemic than they were for COVID-19, specifically criticizing the United States for falling short of global expectations.
In his 2022 book, &#8220;How to Prevent the Next Pandemic,&#8221; Gates criticized various governments for their lack of preparedness and offered recommendations for future pandemic prevention. Despite some progress, he believes the global response remains insufficient.
Gates&#8217; concerns are also featured in the upcoming Netflix docuseries &#8220;What&#8217;s Next? The Future with Bill Gates,&#8221; premiering on Sept. 18. In the series, Gates discusses pandemic prevention with Dr. Anthony Fauci, who stresses the moral responsibility of wealthy nations to lead in disease prevention.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40787302/nvidia-shares-riding-on-huge-ai-tailwind-says-portfolio-strategist-why-expert-says-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia Shares Riding On Huge AI Tailwind, Says Portfolio Strategist: Why Expert Says Stock Will Stay On An Upward Path For Next 2-3 Years</a>
Why It Matters: Gates has been a prominent voice in global health and humanitarian efforts. His <a href="https://www.benzinga.com/personal-finance/24/09/40794858/bill-gates-efforts-to-eradicate-malaria-and-the-economic-impact-of-ridding-the-globe-of-this-dis">efforts to eradicate malaria</a> through the Bill and Melinda Gates Foundation underscore his commitment to combating diseases. Gates&#8217; multipronged approach includes reducing mosquito populations and protecting people from infection, which has significant economic implications, especially in impoverished regions.
Moreover, Gates&#8217; dedication to his work is <a href="https://www.benzinga.com/general/entertainment/24/09/40778448/bill-gates-says-retirement-sounds-awful-how-warren-buffett-inspires-billionaire-to-keep-wor">inspired by figures</a> like Warren Buffett. In a recent interview, Gates mentioned that retirement &#8220;sounds awful&#8221; and credited Buffett&#8217;s work ethic for his continued ambition.
Gates&#8217; focus on global health is not new. He has previously revealed a comprehensive <a href="https://www.benzinga.com/general/biotech/24/09/40758355/malaria-may-have-killed-half-of-humans-throughout-history-now-bill-gates-has-a-breakthrough-plan-">strategy to eradicate malaria</a>, a disease responsible for millions of deaths throughout history. His plan includes groundbreaking technologies and innovations aimed at overcoming this ancient foe.
However, Gates has faced public <a href="https://www.benzinga.com/news/24/09/40764466/woman-once-confronted-bill-gates-on-the-street-over-vaccine-conspiracy-heres-what-he-said">scrutiny and conspiracy theories</a>, particularly regarding vaccines. He has addressed these misconceptions publicly, emphasizing the importance of accurate information in combating global health crises.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40761709/anthony-scaramucci-trump-will-lose-then-start-panicking-over-november-sentencing?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Anthony Scaramucci: Trump Will Lose, Then &#8216;Start Panicking&#8217; Over November Sentencing</a></li>
</ul>
Image Via European Commission 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Health Care

General

Bill Gates Warns Of Another Pandemic In Next 25 Years, Accelerated By Climate Change And Population Growth: Calls For Better Preparedness Amid Rising Threats

Ascendiant Capital analyst Edward Woo maintains Atossa Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATOS#NASDAQ">ATOS</a>) with a Buy and raises the price target from $6.25 to $6.5.

ATOS

Ascendiant Capital Maintains Buy on Atossa Therapeutics, Raises Price Target to $6.5

Needham analyst Laura Martin reiterates Trade Desk (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>) with a Buy and maintains $115 price target.

Needham Reiterates Buy on Trade Desk, Maintains $115 Price Target

Tech

SSNLF

Reuters Reporting  Samsung Electronics Cutting Up To 30% Of Its Overseas Staff At Some Divisions

Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) is facing a potential pre-tax hit of nearly $400 million from the sale of its General Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) credit card portfolio and a smaller, unrelated business.
What Happened: Goldman has been in discussions for several months with GM and Barclays PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCS#NYSE">BCS</a>) about transferring the credit card business to the British bank. However, Barclays has been hesitant to meet Goldman's initial price due to high charge-off rates, which indicate the portion of balances that are unlikely to be repaid by borrowers, The Wall Street Journal <a href="https://www.wsj.com/finance/goldman-sachs-got-lax-on-credit-cards-the-bill-is-coming-due-f460f04f?mod=hp_lead_pos4">reported</a> on Tuesday, citing people familiar with the matter.
Goldman's shares fell over 4% on Tuesday following the news. CEO David Solomon noted during a banking conference on Monday that trading revenue for the third quarter is projected to decline by nearly 10% compared to the previous year, and he warned of &#8220;significantly more muted&#8221; revenues in the asset and wealth management sectors.
The bank&#8217;s consumer-lending ventures, including its credit cards, have resulted in over $6 billion in pretax losses since early 2020. Goldman began shifting away from consumer finance in 2022, refocusing on its core strengths in investment banking and catering to high-net-worth clients.
Goldman Sachs did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/40767067/another-retailer-takes-chapter-11-route-big-lots-files-for-bankruptcy-and-agrees-to-sell-assets-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Another Retailer Takes Chapter 11 Route: Big Lots Files For Bankruptcy And Agrees To Sell Assets To Nexus Capital As Economic Pressures Mount</a>
Why It Matters: This latest development comes on the heels of several <a href="https://www.benzinga.com/top-stories/24/09/40804111/jpmorgan-shares-tumble-after-coo-throws-cold-water-on-analyst-outlook">significant financial events</a>. On Tuesday, JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) saw its shares drop by 7.5% after COO Daniel Pinto tempered analyst forecasts on next year's expenses and net interest income (NII) at an industry event. 
Pinto indicated that the current NII consensus of $89.5 billion was &#8220;not very reasonable&#8221; given the interest-rate forecasts.
In July, Goldman Sachs reported <a href="https://www.benzinga.com/news/earnings/24/07/39801120/goldman-sachs-analysts-boost-their-forecasts-following-better-than-expected-earnings">better-than-expected earnings</a> for the second quarter. The bank posted revenue of $12.730 billion, surpassing the consensus of $12.456 billion. The U.S. financial services giant also reported GAAP EPS of $8.62, beating the consensus of $8.35.
Price Action: Goldman Sachs&#8217; shares closed 4.39% lower on Tuesday at $467.13. In premarket trading on Wednesday, the stock was marginally down by 0.028%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40785731/dogecoin-shoots-up-over-6-as-elon-musk-remembers-his-now-famous-dogefather-skit-from-snl-i?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Shoots Up Over 6% As Elon Musk Remembers His Now Famous &#8216;Dogefather&#8217; Skit From SNL: &#8216;I Went Off The Rails&#8217;</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Equities

Markets

Goldman Sachs' Credit Card Business Exit Reportedly Delayed Due To High Charge-Off Rates And Lenient Underwriting: Bank Discloses Potential $400M Pre-Tax Hit

<a href="https://www.ft.com/content/56205e10-17d3-4eb4-8470-d49cd8113772" title="https://www.ft.com/content/56205e10-17d3-4eb4-8470-d49cd8113772">https://www.ft.com/content/56205e10-17d3-4eb4-8470-d49cd8113772</a>

COVTY

Financial Times Reported Earlier,  Abu Dhabi National Oil Company Expected To Make A Formal Offer To Acquire Covestro For ~14.4B Euros

The slew of weak data has increased the odds of a <a href="https://www.benzinga.com/markets/equities/24/09/40696921/traders-bet-aggressively-on-rate-cuts-ahead-of-jobs-data-5-etfs-to-watch-this-week">deeper cut by the Federal Reserve at the September meeting,</a> weighing down on the dollar. Against the backdrop, economist Peter Schiff flagged the eerie possibility of the return of the yen-carry unwinding.
What Happened: The U.S. dollar fell below the 142 handle against the yen for the first time in 2024, observed Schiff in a post on X, formerly Twitter. The next support level for the pair is around 128, a 20% drop from the June high, he said. 
&#8220;This will result in significant pressure to unwind the yen carry trade, which is bearish for long-term Treasuries and risk assets,&#8221; he added.
<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">As expected, the U.S. <a href="https://twitter.com/hashtag/dollar?src=hash&amp;ref_src=twsrc%5Etfw">#dollar</a> just dropped below 142 <a href="https://twitter.com/hashtag/yen?src=hash&amp;ref_src=twsrc%5Etfw">#yen</a> for the first time in 2024. The next support is around 128, a 20% drop from the June high. This will result in significant pressure to unwind the yen carry trade, which is bearish for long-term Treasuries and risk assets.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1833682379208102325?ref_src=twsrc%5Etfw">September 11, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/money/best-value-stocks">Best Value Stocks</a>
Why It&#8217;s Important: Even as the Fed led by Jerome Powell is moving closer to beginning monetary policy normalization, the Bank of Japan, which has maintained an ultra-loose monetary policy for a fairly long time, has taken a divergent route. Since March 19, when Japan's central bank announced its first rate hike in about 17 years, the yen has appreciated&nbsp;6.5% against the dollar. 
The Bank of Japan followed up with an<a href="https://www.benzinga.com/news/24/07/40058319/bank-of-japan-raises-main-interest-rate-unwinds-longstanding-easy-policy-even-as-jerome-powells-take" target="_blank" rel="noreferrer noopener"> increment to its key interest in late July to around 0.25%</a>.
The yen-carry trade, a popular strategy of borrowing yen at very low interest rates and using the capital to purchase investments denominated in another currency in a country that has a higher rate of return, unraveled amid the strengthening of the yen. This resulted in the global market crash of Aug. 5, when Japan&#8217;s Nikkei 225 fell a whopping 12.4%. The sell-off proved contagious, reverberating across the global markets.
The S&amp;P 500 Index, which peaked in late July, slumped 3% but has since then recovered.
At last check, the yen traded at 141.47 against the dollar, but off the highs of 140.72 reached on Tuesday.
The Invesco DB US Dollar Index Bullish Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) ended Tuesday&#8217;s session up 0.04% at $28.31, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40303909/economist-pours-cold-water-on-september-rate-cut-we-need-to-see-some-sustained-weakness">Economist Pours Cold Water On September Rate Cut: &#8216;We Need To See Some Sustained Weakness&#8217;</a></li>
</ul>
Photo by Sharon McCutcheon on Unsplash

Futures

Federal Reserve

PowerShares DB US Dollar Index Bullish Fund

Peter Schiff Raises Specter Of Early August-Like Collapse In Risky Assets As Dollar Falls To Worst Level In 9 Months Against Yen

Shares of Dave &amp; Buster&#8217;s Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLAY#NASDAQ">PLAY</a>) rose sharply in today's pre-market trading after the company posted stronger-than-expected earnings for<a href="https://www.benzinga.com/news/earnings/24/09/40804051/dave-busters-stock-races-higher-after-q2-eps-beat-details"> its second quarter on Tuesday.</a>
Dave &amp; Buster's reported quarterly earnings of $1.12 per share, which beat the analyst consensus estimate of 84 cents by 33.33%. Quarterly sales came in at $557.1 million, slightly below the analyst consensus estimate of $560.646 million.
Dave &amp; Buster&#8217;s Entertainment shares jumped 12.7% to $33.66 in the pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>CN Energy Group. Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNEY#NASDAQ">CNEY</a>) gained 201.1% to $0.8454 in pre-market trading after gaining over 5% on Tuesday.</li>
<li>FTC Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTCI#NASDAQ">FTCI</a>) rose 96.9% to $0.4431 in today's pre-market trading after the company announced that it has been selected by Strata Clean Energy to supply approximately 500 megawatts of its Voyager 2P solar tracker technology for multiple project sites in the U.S. and will be the preferred 2P solar tracker supplier over a three-year initial term.</li>
<li>Quhuo Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QH#NASDAQ">QH</a>) gained 79.7% to $2.39 in the pre-market trading session after jumping around 307% on Tuesday.</li>
<li>BIO-key International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKYI#NASDAQ">BKYI</a>) shares gained 27.6% to $2.55 in pre-market trading. BIO-Key shares jumped around 92% on Tuesday after the company announced it was rewarded $500K in new orders from a government defense ministry.</li>
<li>China SXT Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SXTC#NASDAQ">SXTC</a>) gained 25.6% to $0.7090 in pre-market trading.</li>
<li>Tantech Holdings Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TANH#NASDAQ">TANH</a>) gained 22.1% to $0.1690 in pre-market trading after declining around 5% on Tuesday.</li>
<li>TOMI Environmental Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TOMZ#NASDAQ">TOMZ</a>) gained 16.5% to $0.8980 in pre-market trading after declining 3% on Tuesday.</li>
<li>Arcadium Lithium plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALTM#NYSE">ALTM</a>) rose 9.7% to $2.48 in pre-market trading.</li>
<li>NFT Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MI#NYSE">MI</a>) gained 9.3% to $4.70 in pre-market trading.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Telesis Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TBIO#NASDAQ">TBIO</a>) fell 52.9% to $1.79 in pre-market trading after the company announced that it has notified the Nasdaq Stock Market of its decision to delist.</li>
<li>MultiPlan Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPLN#NYSE">MPLN</a>) fell 22.8% to $0.1852 in pre-market trading. MultiPlan announced a 1-for-40 reverse stock split, effective Sept. 23.</li>
<li>Rentokil Initial plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTO#NYSE">RTO</a>) shares fell 17.6% to $26.02 in pre-market trading.</li>
<li>Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) shares declined 16% to $15.65 in pre-market trading after gaining 3% on Tuesday.</li>
<li>Silexion Therapeutics Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLXN#NASDAQ">SLXN</a>) shares fell 16% to $1.04 in pre-market trading after jumping over 26% on Tuesday.</li>
<li>iLearningEngines, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AILE#NASDAQ">AILE</a>) shares fell 12.8% to $1.36 in pre-market trading. iLearningEngines shares jumped 115% on Tuesday after the company&#8217;s CEO responded to short seller statements.</li>
<li>LiveOne, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LVO#NASDAQ">LVO</a>) fell 12.6% to $1.25 in today's pre-market trading after declining over 6% on Tuesday.</li>
<li>Relay Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RLAY#NASDAQ">RLAY</a>) shares dipped 11.9% to $7.93 in pre-market trading. Relay Therapeutics priced its $200 million public offering of 28,571,429 common shares at $7/share.</li>
<li>HWH International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HWH#NASDAQ">HWH</a>) shares declined 11.6% to $0.47 in pre-market trading after jumping 17% on Tuesday.</li>
<li>GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) declined 10.5% to $20.98 in pre-market trading. GameStop reported a surprise profit for the second quarter, while sales missed expectations.</li>
</ul>
Now Read This:<a href="https://www.benzinga.com/news/24/09/40792510/jim-cramer-says-aes-is-very-inexpensive-recommends-buying-this-industrial-stock"> </a>
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40792510/jim-cramer-says-aes-is-very-inexpensive-recommends-buying-this-industrial-stock">Jim Cramer Says AES Is &#8216;Very Inexpensive&#8217;, Recommends Buying This Industrial Stock</a></li>
</ul>

Pre-Market Outlook

Movers

Trading Ideas

AILE

ALTM

BKYI

CNEY

FTCI

MPLN

PLAY

RLAY

SLXN

SXTC

TANH

TBIO

TOMZ

Why Dave & Buster's Shares Are Trading Higher By Around 13%; Here Are 20 Stocks Moving Premarket

California-based EV startup Lucid Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) on Tuesday offered a sneak peek at its <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">upcoming midsize SUV</a> slated to compete against Tesla Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) bestselling Model Y. 
What Happened: Lucid on Tuesday showed a darkened image of the upcoming midsize vehicle at its technology and manufacturing day event. The image, however, does not give away much besides the upper silhouette of the vehicle, significantly different from the Model Y but bearing resemblances to Lucid&#8217;s upcoming Gravity SUV. 
But the proportions of the midsize are seemingly way smaller than Gravity, which is a full-size SUV. 
The midsize vehicle is expected to enter production in late 2026 with a starting price of about $48,000. The price point of $48,000 will put the vehicle in direct competition with Tesla's mass-market offerings Model 3 and Model Y. Tesla&#8217;s Model Y starts at $44,990 for the base version while the base version of the Model 3 sedan starts at $38,990. 
&#8220;With leading technology and efficiency, it will be able to deliver the same range as competitors while using a smaller battery,&#8221; Lucid said about its upcoming vehicle. 
<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">Wrapping up Tech &amp; Manufacturing day: A new sneak peek at one of our upcoming midsize vehicles, set for production in late 2026 with a starting price under $50k. With leading technology and efficiency, it will be able to deliver the same range as competitors while using a… <a href="https://t.co/yJ5re2fIlt">pic.twitter.com/yJ5re2fIlt</a>
&mdash; Lucid Motors (@LucidMotors) <a href="https://twitter.com/LucidMotors/status/1833544464473985283?ref_src=twsrc%5Etfw">September 10, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Lucid&#8217;s current lineup has higher-end, low-volume EV offerings. The company is attempting to break out of the segment with the midsize. 
Lucid's premium sedan called Lucid Air is its only vehicle currently in production. Its cheapest variant has a starting price of $69,900 while the more premium Grand Touring and Sapphire versions start at $109,900 and $249,000, respectively.
The company is gearing up to start production of its Gravity SUV, which it believes to be better than rival&nbsp;Tesla&#8217;s&nbsp;premium Model X SUV,&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" target="_blank" rel="noreferrer noopener">later this year</a>. The vehicle is expected to start under $80,000, around the same price bracket as its Air sedan.
In the second quarter, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39743359/exclusive-as-lucid-gears-up-to-take-on-teslas-model-x-analysts-lay-out-the-problems">Lucid delivered 2,394 EVs</a>, marking its best quarter to date in terms of sales. However, the company has yet to turn a profit and reported a net loss of $643.39 million for the three months through the end of June. 
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:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40808924/tesla-robotaxi-event-to-be-held-in-los-angeles-on-1010-says-senior-company-exec-existing-shareholder">Tesla Robotaxi Event To Be Held In Los Angeles On 10/10, Says Senior Company Exec: Existing Shareholders Stand To Win A Chance To Attend In Person</a></li>
</ul>
Photo courtesy: Lucid

LCID

TSLA

Lucid Teases Upcoming Midsize SUV Meant To Rival Tesla's Model Y

In a surprising move, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) seems to have silently phased out its controversial FineWoven iPhone cases, as they are no longer available on the company&#8217;s website.
What Happened: The eco-friendly FineWoven cases, introduced last year with the iPhone 15, are no longer up for sale on Apple&#8217;s website. The product has not been launched for the recently announced iPhone 16 either, Business Insider<a href="https://www.businessinsider.in/tech/news/apple-appears-to-quietly-admit-defeat-over-a-controversial-iphone-accessory-thats-vanished-from-its-website/articleshow/113236997.cms"> reported</a> on Wednesday.
The FineWoven cases, which faced user backlash due to their susceptibility to scratches, dust accumulation, and retention of circular indents from MagSafe charging, are now seemingly discontinued. The iPhone 16, however, will have new cases from Apple&#8217;s subsidiary Beats, supporting MagSafe charging and Apple&#8217;s new Camera Control feature.
See Also: <a href="https://www.benzinga.com/general/entertainment/24/09/40758484/nba-legend-shaq-shows-off-his-new-widebody-carbon-fiber-tesla-cybertruck-elon-musk-has-a-on?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">NBA Legend Shaq Shows Off His New Widebody Carbon Fiber Tesla Cybertruck: Elon Musk Has A One Word Reaction</a>
Apple did not respond to <a href="http://pro.benzinga.com">Benzinga&#8217;s</a> queries immediately.
<figure class="wp-block-image size-large is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/11050156/Screenshot-2024-09-11-at-2.29.16%E2%80%AFPM-1-1024x428.png" alt="" class="wp-image-541665" style="width:854px;height:auto" /></figure>
Why It Matters: The FineWoven cases were part of Apple&#8217;s sustainable initiatives, replacing traditional leather ones. However, they were <a href="https://www.benzinga.com/news/23/09/34843168/sustainability-meets-scrutiny-apples-finewoven-iphone-cases-draw-intense-criticism-labeled-categoric">met with widespread criticism</a> from users and tech reviewers for their vulnerability to scuffs and premature wear. The Verge&#8217;s Allison Johnson had called it &#8220;categorically terrible&#8221; in her review. 
With the recent launch of the iPhone 16, experts anticipate a <a href="https://www.benzinga.com/news/24/09/40787929/apples-iphone-16-could-trigger-a-massive-upgrade-cycle-says-expert-they-have-offered-enough-value">significant upgrade cycle</a>. 
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Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

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Under the MOU, Covestro and Li Auto will establish a "Joint Innovation Platform" to drive the development and application of more sustainable engineering plastics with alternative feedstocks, such as bio-waste and recycled sources, across various automotive components. Key initiatives will involve integrating materials attributed with bio-circular content through mass balancing into automotive lighting, functional interior and exterior parts, and smart system components. The two sides also agreed to explore innovative processes and business models for using recycled lighting materials in new automotive parts together with value chain partners.
Under the joint platform, the two sides also seek to deepen their collaboration in developing lighting, smart systems, and thermal management solutions. This will include high-performance optical-grade materials, smart surface technologies and thermally conductive solutions.
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Covestro To Collaborate With Li Auto On Advanced, Sustainable Material Solutions For Next-Gen Vehicles

The U.S. Securities and Exchange Commission (SEC) hit cryptocurrency entities with record fines in 2024, highlighting the growing financial risk for companies that fail to comply with regulatory standards.
What happened: According to a <a href="https://socialcapitalmarkets.net/crypto-trading/crypto-sec-fines-penalties/">study</a> released by cryptocurrency analytics firm Social Capital Markets, the regulator has issued over $7.42 billion in fines since 2013, with $4.68 billion, or around 63%, coming this year alone.
The fines issued surged by a whopping 3,018% from last year, when the cryptocurrency industry was fined just over $150 million.
This year&#8217;s figures were boosted by the <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39304765/bankrupt-terraform-labs-and-founder-do-kwon-reach-historic-4-47b-settlement-with-the-sec-i">historic $4.47 billion fine</a> against bankrupt company Terraform Labs for defrauding cryptocurrency investors during the infamous Terra (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/luna/usd">LUNA</a>) implosion in 2022, the event that precipitated the cryptocurrency bear market.&nbsp;
This was the largest enforcement action to date, dwarfing prior sanctions and setting a new standard for regulatory monitoring of the cryptocurrency market, the report said.&nbsp;
Around 11 enforcement actions were carried out by the SEC in 2024, with an average fine of $426 million. For context, the average fine last year was just $5 million across 30 enforcement actions.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40808758/bitcoin-bull-mike-novogratz-on-trump-harris-debate-she-smoked-him-max-keiser-says-everybod">Bitcoin Bull Mike Novogratz On Trump-Harris Debate: &#8216;She Smoked Him&#8217; — Max Keiser Says &#8216;Everybody Knows The War Is Over&#8217;</a>
Why It Matters: The pattern of growing fines reflected the SEC&#8217;s strategic shift toward large companies and high-profile cases.&nbsp;&nbsp;
In recent years, the Gary Gensler-led agency has aggressively pursued top cryptocurrency companies.
In June 2023, Binance and its founder Changpeng Zhao <a href="https://www.benzinga.com/markets/cryptocurrency/23/06/32718798/binance-and-changpeng-zhao-sued-by-the-sec-has-the-empire-just-started-crumbling">were sued by the SEC</a> for allegedly engaging in deceptive tactics, conflicts of interest, and evasion of law.
Around the same time, the agency <a href="https://www.benzinga.com/markets/cryptocurrency/23/06/33060765/coinbase-counters-sec-lawsuit-constitutes-an-extraordinary-abuse-of-process">filed a lawsuit</a> against Coinbase in June, alleging that the exchange was illegally operating as a national securities exchange.
Ripple Labs was f<a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40240559/xrp-outshines-bitcoin-ethereum-to-become-biggest-daily-gainer-after-judge-imposes-125m-pen">ined $125 million last month for violating federal securities laws</a> through its sale of XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) to institutional clients. However, this penalty was much lower than the SEC&#8217;s previous request of nearly $2 billion.
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Photo courtesy: Shutterstock

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

Cryptocurrency

$LUNA

$XRP

Terraform Labs' Historic $4.5B Settlement With SEC Makes 2024 The Most Penalized Year For Crypto Firms, Fines Surge More Than 3,000% Over Last Year

GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) shares fell nearly 11% on Wednesday during pre-market trading after the company reported disappointing second-quarter revenue figures. GameStop&#8217;s<a href="https://www.benzinga.com/news/earnings/24/09/40803991/gamestop-q2-earnings-highlights-revenue-miss-eps-beat-cash-update-and-more"> net sales for the quarter </a>were $798.0 million, falling short of the $895.7 million consensus estimate.
What Happened: GameStop&#8217;s revenue saw a decline from $1.16 billion in the same quarter last year. Despite the revenue miss, the company posted a profit of $0.1 per share, surpassing the expected loss of $0.9 per share.
At the time of writing, GameStop was trading at $20.85 while it closed at $23.45 on Tuesday, as per <a href="https://pro.benzinga.com">Benzinga Pro</a>.
All three of GameStop&#8217;s business segments experienced year-over-year declines. Hardware and Accessories net sales were $451.2 million, down from $597.0 million. Software sales dropped to $207.7 million from $397.0 million, and Collectibles fell to $139.4 million from $169.8 million.
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/40758859/apple-launched-ipod-nano-19-years-ago-if-you-invested-1000-in-apple-stock-when-steve-jobs-reveal?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple Launched iPod Nano 19 Years Ago: If You Invested $1000 In Apple Stock When Steve Jobs Revealed His Vision For Music, Here&#8217;s How Much You&#8217;d Have</a>
GameStop concluded the second quarter with $4.2 billion in cash, cash equivalents, and marketable securities. The company also announced it would not be holding a conference call to discuss the results.
Why It Matters: The recent drop in GameStop shares comes amid a series of events involving Keith Gill, also known as &#8220;Roaring Kitty.&#8221; Earlier this year, experts raised concerns that Gill was <a href="https://www.benzinga.com/markets/equities/24/06/39207261/roaring-kittys-gamestop-trades-exploit-secs-regulatory-gaps-experts-warn-this-is-obviously-marke">exploiting regulatory gaps</a> in the market through his trading activities involving GameStop.
In July, a<a href="https://www.benzinga.com/news/24/07/39585976/lawsuit-against-keith-gill-voluntarily-dismissed-whats-going-on-with-gamestop-stock"> class-action lawsuit</a> against Gill was voluntarily dismissed, which alleged that he manipulated GameStop's stock price. This dismissal came after Gill disclosed a significant passive stake in Chewy Inc.
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40785731/dogecoin-shoots-up-over-6-as-elon-musk-remembers-his-now-famous-dogefather-skit-from-snl-i?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Shoots Up Over 6% As Elon Musk Remembers His Now Famous &#8216;Dogefather&#8217; Skit From SNL: &#8216;I Went Off The Rails&#8217;</a></li>
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Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

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