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Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) executives, including CEO Mark Zuckerberg and CFO Susan Li, were cautious in their response to a question about <a href="https://www.benzinga.com/news/24/04/38394855/biden-set-to-sign-tiktok-ban-into-law-after-senate-passes-bill-supported-by-gop-democrats">the potential impact</a> of the TikTok ban or sale on the U.S. social media landscape.
What Happened: During the company&#8217;s <a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding">first-quarter earnings call</a> on Wednesday, Li responded to a question about the TikTok ban, stating that it was too early to assess its impact on Meta&#8217;s business.
Youssef Squali from Truist Securities directed his question to Zuckerberg saying, &#8220;Mark with the upcoming ban or sale of TikTok ending to a lot earlier today, how do you think that will impact the U.S. social media landscape?&#8221;
Squali also asked, &#8220;What do you say to people who believe that this is potentially a slippery slope in terms of the government picking up winners and losers?&#8221;
See Also: <a href="https://www.benzinga.com/markets/equities/24/04/38345502/elon-musk-reacts-after-nvidia-stock-plunges-10-and-erases-212b-market-cap-rookie-numbers?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Gives Shoutout To Taylor Swift&#8217;s Debut On Threads, Says &#8216;That One Was A Big Deal In My House&#8217;</a>
Zuckerberg decided to not address the question, after which Li responded, &#8220;We&#8217;ve obviously been following the events related to TikTok closely, but at this stage, it is just too early I think to assess its impact or what it would mean for our business.&#8221;
Why It Matters: The TikTok ban has been a topic of significant interest in the tech industry. After the U.S. House of Representatives and Senate passed a bill that could lead to the ban or sale of TikTok, President Joe Biden <a href="https://www.benzinga.com/markets/asia/24/04/38418913/tiktok-fights-back-we-arent-going-anywhere-whats-next-for-users">signed it into law on Wednesday</a>. 
TikTok CEO Shou Zi Chew has said that they will fight back. &#8220;Make no mistake, this is a ban, a ban on TikTok and a ban on you and your voice,&#8221; he said in a two-minute <a href="https://www.tiktok.com/@tiktok/video/7361448925972155679" target="_blank" rel="noreferrer noopener">video</a> posted to TikTok's main corporate account.
Former President Donald Trump has <a href="https://www.benzinga.com/news/24/04/38368049/trump-reverses-tiktok-ban-stance-accuses-biden-of-favoring-zuckerbergs-meta-doing-it-to-help-faceboo">repeatedly voiced opposition</a> to a potential ban on TikTok, accusing President Biden of aiding Facebook, led by Zuckerberg, in amassing more influence on social media platforms and potentially interfering in elections, to the detriment of Republicans.
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Meanwhile, Wedbush analysts believe that while Microsoft Corp. and Oracle Corp. could be the &#8220;likely buyers&#8221; of TikTok, but added Meta and Google <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38358239/microsoft-and-oracle-could-be-tiktoks-likely-buyers-but-real-winners-would-be-mark-">could emerge as winners</a>. &#8220;We would expect Meta to be the primary recipient of redistributed TikTok revenue should the company exit the U.S., with Google the likely number two beneficiary.&#8221;
Wedbush's Dan Ives has previously spoken about the potential <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37689925/tiktok-ban-benefits-meta-and-others-but-us-is-playing-a-little-with-fire-says-wedbu">repercussions of a TikTok ban</a> for large technology firms, calling the situation a &#8220;slippery slope&#8221; and a &#8220;watershed moment.&#8221; 
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/government/24/04/38350596/former-gop-hopeful-nikki-haley-joins-calls-for-tiktok-ban-to-stop-infiltration-of-chinese-communist?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meta CEO Mark Zuckerberg: &#8216;More Than 50% Of The Content People See On Instagram Is Now AI Recommended&#8217;</a>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

News

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ORCL

Meta Execs Mark Zuckerberg And Susan Li Tread Lightly On Impact Of TikTok Ban Or Sale: 'It Is Just Too Early'

Renowned economist and cryptocurrency skeptic, Peter Schiff, warned Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) holders of a potential drop if the coin fails to hold the $60K support level.
What Happened: On Wednesday, Schiff took to Twitter to express his concerns about Bitcoin&#8217;s future. &#8220;It&#8217;s not looking good #HODLers. You guys need to hope #Bitcoin can hold $60K. Otherwise it&#8217;s a long way down,&#8221; he tweeted.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It&#39;s not looking good <a href="https://twitter.com/hashtag/HODLers?src=hash&amp;ref_src=twsrc%5Etfw">#HODLers</a>. You guys need to hope <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> can hold $60K. Otherwise it&#39;s a long way down. All the hard core Bitcoiners are use to big drops. But the newbies who own the ETFs are in for a rude awakening. <a href="https://t.co/Dw6mJXXi3r">pic.twitter.com/Dw6mJXXi3r</a>
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1783271696138481828?ref_src=twsrc%5Etfw">April 24, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38395178/dogecoin-could-outperform-bitcoin-thanks-to-consolidation-in-the-golden-pocket-says-trader?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Could Outperform Bitcoin Thanks To Consolidation In The Golden Pocket, Says Trader: &#8216;This Is A Very Good Sign&#8217;</a>
Bitcoin has gained over 7% so far in the last seven days and since the year began the apex cryptocurrency has shot up over 47%.
His tweet comes in the wake of Bitcoin&#8217;s recent consolidation, which has left investors questioning its next move. Schiff, known for his critical views on Bitcoin, has previously slammed the cryptocurrency for its volatility and questioned its status as a safe haven asset.
Why It Matters: According to a <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38358590/bitcoins-next-move-after-the-halving-technical-analysis-foresees-these-2-scenarios">recent technical analysis</a>, the $60,000 support level is crucial for Bitcoin&#8217;s bullish outlook. If the price drops below $60,000, there might be a chance to buy, especially if it&#8217;s just a temporary or deceptive decline known as a &#8220;fakeout.&#8221;
In the past, Schiff has <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38331688/peter-schiff-slams-bitcoin-for-not-being-the-safe-haven-asset-its-promoted-to-be-af">criticized Bitcoin</a> for not being the &#8216;safe haven asset it&#8217;s promoted to be&#8217; after it tanked 6% following jobless claims data, while gold rose 1.5%. 
He also <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38345128/peter-schiff-mocks-bitcoiners-after-halving-event-asks-if-theyre-throwing-parties-h">mocked Bitcoin holders</a> after the recent halving event, suggesting that they will soon experience a halving of their net worth.
Price Action: At the time of writing, Bitcoin traded 3.7% lower at $64,177.19, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">data from Benzinga Pro.</a>
Photo Courtesy: Wikimedia Commons
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38402854/dogecoin-killer-shiba-inu-burn-rate-skyrockets-2-212-as-robinhood-wallet-moves-3-trillion-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Dogecoin Killer&#8217; Shiba Inu Burn Rate Skyrockets 2,212%, As Robinhood Wallet Moves 3 Trillion SHIB In A Single Transaction</a>
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Peter Schiff Warns Bitcoin Hodlers: 'It's A Long Way Down' If King Crypto Can't Hold $60K

Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CEO Mark Zuckerberg&#8217;s announcement related to &#8220;scaling capex and energy expenses for AI&#8221; during the <a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding">company&#8217;s first-quarter financial results</a>, allegedly led to a 17% stock plunge. Gene Munster believes the market&#8217;s reaction is an overreaction.
What Happened: During his opening statement on Wednesday, Zuckerberg revealed the company&#8217;s plans to ramp up AI investment by scaling capital expenditure and energy expenses. 
He said, &#8220;We&#8217;re scaling CapEx and energy expenses for AI, we&#8217;ll continue focusing on operating the rest of our company efficiently. But realistically, even with shifting many of our existing resources to focus on AI, we&#8217;ll still grow our investment envelope meaningfully before we make much revenue from some of these new products.&#8221;
This announcement caused the stock to drop an additional 5%, bringing the total decline to 17%, according to Munster, the co-founder and managing partner of&nbsp;Deepwater Asset Management. 
&#8220;He wants to get investors&nbsp;on the same page, they&#8217;re&nbsp;entering a multi-year investment cycle,&#8221; Munster said, adding, &#8220;My take,&nbsp;the stock action is an&nbsp;overreaction,&#8221; 
See Also:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/04/38350014/elon-musk-reacts-to-teslas-pricing-debate-only-a-fool-thinks?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Gives Shoutout To Taylor Swift&#8217;s Debut On Threads, Says &#8216;That One Was A Big Deal In My House&#8217;</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24META&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$META</a> dropped an additional 5% (now down 17%) on Zuckerberg&#39;s opening comments that will be growing Capex and energy meaningfully before seeing the greater benefit of AI. He wants to get investors on the same page, they&#39;re entering a multi year investment cycle. My take, the…
&mdash; Gene Munster (@munster_gene) <a href="https://twitter.com/munster_gene/status/1783244161400836328?ref_src=twsrc%5Etfw">April 24, 2024</a></blockquote>
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Why It Matters: Meta&#8217;s first-quarter financial results were strong. The company reported a revenue of $36.45 billion, a 27% increase year-over-year,&nbsp;according to&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.&nbsp; This figure surpassed the Street&#8217;s consensus estimate of $36.16 billion.
Last quarter, Meta surprised investors with <a href="https://www.benzinga.com/news/earnings/24/02/36899267/meta-platforms-q4-earnings-highlights-revenue-beat-eps-beat-companys-first-dividend-and-more">better-than-expected results</a>, introducing a quarterly dividend, and unveiling a $50 billion expansion to its buyback initiative.
On Wednesday, the tech giant said that last year it prioritized increasing operational discipline, achieving robust execution, and improving advertising performance. Looking ahead to 2024, the company intends to further strengthen its efforts in these domains while also advancing its long-term ambitions in AI and Reality Labs.
META Price Action: Meta shares declined 15.1% after hours to $418.85 after closing 0.52% lower at $493.5 in the regular session, according to data from Benzinga Pro.
Photo courtesy: Shutterstock
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38376705/doge-shiba-and-other-memecoins-fueling-mass-adoption-of-bases-l2-network-coinbase-e?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meta CEO Mark Zuckerberg: &#8216;More Than 50% Of The Content People See On Instagram Is Now AI Recommended&#8217;</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Meta's Stock Plunge After Q1 Numbers An 'Overreaction' To Zuckerberg's CapEx Move, Says Gene Munster: 'He Wants to Get Investors on the Same Page

IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) CEO Arvind Krishna has forecasted a significant shift in the use of AI by enterprises, noting that the technology will drive tangible business results. This comes as the company&#8217;s AI bookings surpass the $1 billion mark.
What Happened: Krishna, during the Q1 2024 Earnings Call, highlighted the increasing importance of technology in the global economy, particularly in driving productivity and enhancing customer experience.
The CEO also emphasized the growing traction of enterprise AI, with more clients expected to transition from experimenting to deploying AI at scale for productivity gains. IBM&#8217;s AI offerings have seen consistent growth, with a book of business exceeding $1 billion, primarily driven by consulting services.
Krishna emphasized key partnerships driving AI and hybrid cloud growth, including collaborations with NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and ServiceNow Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) to enhance AI capabilities and digital transformation. The Adobe partnership expanded to include OpenShift and watsonx in the Adobe Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) Experience platform.
&#8220;This quarter, we&#8217;ve progressed strategic partnerships with a number of industry leaders, consulting joint forces with NVIDIA to accelerate clients&#8217; AI journeys,&#8221; Krishna said. 
IBM&#8217;s comprehensive AI strategy, centered around the watsonx platform, is designed to help clients scale AI. The platform enables clients to build their AI solutions, incorporating both IBM and third-party models. The company&#8217;s infrastructure segment is also playing a crucial role as clients utilize their hardware investments in their AI strategies.
See Also: <a href="https://www.benzinga.com/news/24/04/38339431/general-motors-and-ford-are-facing-the-same-challenge-as-they-run-back-to-gas-powered-trucks?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">General Motors And Ford Are Facing The Same Challenge As They Run Back To Gas-Powered Trucks</a>
IBM&#8217;s full-stack approach, from on-chip AI processing to AI accelerator cards, is designed to facilitate model building and training on any platform, with easy deployment on IBM Z. The Telum chip, a unique feature, enables real-time AI inferencing.
IBM is also committed to an open innovation ecosystem around AI, with recent collaborations with the Spanish government and other industry leaders. The company continues to invest in emerging technologies, such as quantum computing, and is focused on portfolio optimization.
Why It Matters: IBM&#8217;s Q1 2024 earnings call comes on the heels of a <a href="https://www.benzinga.com/news/earnings/24/04/38416255/ibm-q1-earnings-revenue-miss-eps-beat-hashicorp-acquisition-ai-strategy-strength-and-more">revenue miss</a> but an EPS beat, as the company reported a 1% YoY increase in revenue to $14.46 billion. The company&#8217;s AI strategy and strength are seen as crucial factors amid this financial performance.
IBM&#8217;s focus on AI is not new. The company has been actively involved in the AI space, from advocating for open AI models to <a href="https://www.benzinga.com/news/23/12/36085130/meta-ibm-and-over-50-ai-companies-join-forces-in-open-ai-advocacy-initiative">joining forces</a> with over 50 AI companies and research institutions in an open AI advocacy initiative. This commitment to AI is now reflected in the company&#8217;s Q1 performance and its future outlook.
IBM Price Action: <a href="https://www.benzinga.com/quote/IBM" target="_blank" rel="noreferrer noopener">IBM shares</a> were down 8.47% after hours at $168.51 at the time of publication, according to <a href="https://benzinga.grsm.io/gxjhpowx7zks" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meta Platforms Q1 Earnings Highlights: Facebook Owner Beats Estimates, But Guidance, Higher Costs Ding Stock</a>
Image Courtesy: World Economic Forum/Manuel Lopez
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.<a href="https://benzinga.com/apis" target="_blank" rel="noreferrer noopener"></a>

Earnings

Equities

ADBE

NVDA

IBM CEO Arvind Krishna Teams Up With Nvidia 'To Accelerate Clients' AI Journeys' Amid $1B In Bookings

Block Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>) CEO and Twitter co-founder Jack Dorsey has announced a new feature that enables Square merchants to automatically convert a percentage of their daily sales into Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).
What Happened: On Wednesday, Dorsey took to X, formerly Twitter, to announce the new feature, stating, &#8220;Square sellers: auto-convert a percent of your daily sales to bitcoin.&#8221; 
This feature, which is rolling out in the U.S. starting today, will transfer 1-10% of Square sellers' daily sales to their personal Cash App account. At the end of the day, this amount will be converted into Bitcoin. Merchants will receive a confirmation of the conversion when the transaction is complete, according to a TechCrunch <a href="https://techcrunch.com/2024/04/24/block-now-lets-square-merchants-convert-a-part-of-their-daily-sales-to-bitcoin/?guccounter=1">article</a> shared by Dorsey.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">square sellers: auto-convert a percent of your daily sales to bitcoin: <a href="https://t.co/sMiTIZV916">https://t.co/sMiTIZV916</a> <a href="https://t.co/Glnt8gc2eC">pic.twitter.com/Glnt8gc2eC</a>
&mdash; jack (@jack) <a href="https://twitter.com/jack/status/1783167463645155690?ref_src=twsrc%5Etfw">April 24, 2024</a></blockquote>
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According to TechCrunch, Block has stated that the Bitcoin conversion feature will be available to all sole proprietors or single-member LLCs in the coming months. The company will take a 1% cut from every conversion made by the seller. Merchants can send Bitcoin to other wallets or sell them at any time from their Cash App account.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38348301/bitcoin-halving-elon-musks-dogecoin-tweet-solanas-rise-and-more-this-week-in-cryptocurrenc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Halving, Elon Musk&#8217;s Dogecoin Tweet, Solana&#8217;s Rise And More: This Week In Cryptocurrency</a>
Why It Matters: This move comes as part of Block&#8217;s ongoing efforts to expand its cryptocurrency offerings. In December 2023, the company launched its <a href="https://www.benzinga.com/markets/cryptocurrency/23/12/36140925/move-your-bitcoin-off-the-exchanges-jack-dorseys-block-launches-self-custody-btc-wallet">self-custody Bitcoin wallet</a>, Bitkey, which is now accessible in over 95 countries. The wallet, available as a mobile app or hardware storage, highlights a two-of-three multi-signature wallet consisting of a mobile key, a hardware key, and a server key.
However, this announcement also comes on the heels of significant layoffs at Block. In January 2024, the company <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36859861/jack-dorseys-block-implements-major-layoffs-reduces-10-of-workforce-amid-broader-tech-indu">reduced its workforce</a> by 10%, affecting employees across various sectors of the company, including the Cash App, Foundational, and Square sectors. The layoffs were reportedly conducted in a single day to boost efficiency at the financial firm.
Price Action: Block shares closed 1.58% lower at $74.03 in the regular session and declined nearly 1% in the after-hours trading. At the time of writing, Bitcoin traded 3.5% lower at $64,274.16, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">data from Benzinga Pro.</a>
Photo by Frederic Legrand &#8211; COMEO on Shutterstock
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38395178/dogecoin-could-outperform-bitcoin-thanks-to-consolidation-in-the-golden-pocket-says-trader?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Could Outperform Bitcoin Thanks To Consolidation In The Golden Pocket, Says Trader: &#8216;This Is A Very Good Sign&#8217;</a>
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 Engineered by 
 Benzinga Neuro, Edited by 
 
 <a href="None" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none"> 
 Shivdeep Dhaliwal</a> 
 
 
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 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>
 
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Jack Dorsey Says Block Will Allow Square Sellers To Auto Convert A Percent Of Daily Sales To Bitcoin

Michaël van de Poppe, a notable crypto analyst, voiced doubts regarding the prospects of an Exchange-Traded Fund approval for Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>). Additionally, he emphasized the resilience of the Ethereum ecosystem.
What Happened: Van de Poppe took to social media platform X to share his views on the possibility of an Ethereum ETF approval. He indicated that the chances of approval are low, despite the potential for an upward trend in Ethereum&#8217;s value. He also emphasized the strength of the Ethereum ecosystem.
&#8220;It&#8217;s still on edge to have one and I think people are underestimating the strength of the Ethereum ecosystem,&#8221; he wrote. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The chances for an ETF approval for <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> are quite low, but that doesn&#39;t mean that we&#39;re going to have an upward run on Ethereum. It&#39;s still on edge to have one and I think people are underestimating the strength of the Ethereum ecosystem.
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1783073900093390850?ref_src=twsrc%5Etfw">April 24, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38349928/melania-trump-launches-245-customizable-mothers-day-necklace-buyers-to-also-get-limited-ed?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Melania Trump Launches $245 Customizable Mother&#8217;s Day Necklace, Buyers To Also Get Limited-Edition Solana-Based Digital Collectible</a>
Why It Matters: The possibility of an Ethereum ETF has been a hot topic in the crypto world. The <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38404202/why-sec-delays-put-the-may-ethereum-etf-deadline-in-doubt">SEC&#8217;s continued scrutiny</a> of Ethereum ETF proposals has cast doubt on the May approval deadline. This has led to a decrease in the market&#8217;s expectation of an ETF approval, with a prediction market assigning only a 16% chance of approval by May 31.
Notably, the SEC <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36514679/wall-street-enters-the-crypto-age-sec-issues-historic-approval-of-spot-bitcoin-etfs">issued a historic approval</a> for a Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) ETF on January 10, 2024, pushing Wall Street into the cryptocurrency age.
Despite the uncertainty, investment bank Standard Chartered remains optimistic about the future of digital assets. The bank believes that the market <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38400241/spot-ethereum-etf-approval-unlikely-but-bad-news-already-priced-in-standard-chartered">is well-positioned</a> for a rebound, even if the approval is delayed.
Meanwhile, the <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38299618/hong-kongs-bitcoin-and-ethereum-etfs-poised-to-reach-1b-in-assets-bloomberg-analyst-predic">Bitcoin and Ethereum ETFs in Hong Kong</a> are projected to accumulate $1 billion in assets within the next two years, despite China&#8217;s ban on the underlying assets. This suggests a strong global interest in cryptocurrency ETFs.
However, not everyone is optimistic about Ethereum&#8217;s future. A <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38253553/is-ethereum-dead-this-bitcoin-trader-thinks-so-solana-attacking-from-left-flank">seasoned Bitcoin trader and advocate</a> recently declared a pessimistic outlook for Ethereum, suggesting that the &#8220;ETH story is dying.&#8221;
Price Action: Based on data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>, Bitcoin is presently trading at $64,535, marking a 0.44% increase over the past 24 hours and a 46.10% surge year-to-date. Meanwhile, Ethereum is trading at $3,170, with a 0.98% rise in the last 24 hours and a 34.74% increase year-to-date.
Image Via Shutterstock 
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38376705/doge-shiba-and-other-memecoins-fueling-mass-adoption-of-bases-l2-network-coinbase-e?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin, Shiba Inu And Other Memecoins Fueling Mass Adoption Of Base&#8217;s L2 Network, Coinbase Exec Says: &#8216;They Are Going To Be One Of The Biggest Drivers&#8217;</a>
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Analyst Ratings

ETFs

$ETH

Unlike Bitcoin's Case, Ethereum ETF Approval Chances Slim, Says Crypto Analyst, But 'People Are Underestimating The Strength' Of ETH Ecosystem

Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CEO Mark Zuckerberg has revealed that over 50% of the content on Instagram and 30% of posts on Facebook are now <a href="https://www.benzinga.com/news/23/05/32398247/mark-zuckerberg-reveals-social-media-feeds-are-now-fueled-by-ai-generated-content">recommended by artificial intelligence</a>. 
What Happened: Zuckerberg made this revelation during <a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding">Meta&#8217;s first-quarter financial results</a> announcement on Wednesday. 
&#8220;Right now, about 30% of the posts on Facebook feed are delivered by our AI recommendation system. That&#8217;s up 2x over the last couple of years,&#8221; he said in his opening statement, adding, &#8220;And for the first time ever, more than 50% of the content people see on Instagram is now AI recommended.&#8221;
The Meta CEO also revealed that AI has also played a pivotal role in enhancing the value for advertisers, with the revenue through Meta&#8217;s AI-powered tools, Advantage+ Shopping, and Advantage+ App Campaigns, more than doubling since last year.
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Meta disclosed first-quarter revenue of $36.45 billion, marking a 27% increase compared to the last year. This revenue exceeded the Street consensus estimate of $36.16 billion, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>. The tech giant&#8217;s earnings per share for the first quarter were $4.71, surpassing the Street estimate of $4.33.
Why It Matters: Last year in June, <a href="https://www.benzinga.com/news/23/06/33058133/meta-wants-to-empower-users-over-ai-influence-on-facebook-and-instagram-recommendations">Meta announced&nbsp;new controls</a> to allow users to manage what they see on Facebook and Instagram. This was part of Meta&#8217;s broader initiative to increase transparency and user empowerment regarding AI recommendations.
At the time, it was reported that Facebook users can customize recommendations by navigating to the &#8216;Feed Preferences&#8217; section while Instagrammers could go to &#8216;Suggested Content Control Center&#8217; within the app&#8217;s settings to <a href="https://www.benzinga.com/news/23/10/35433364/mark-zuckerberg-says-your-feed-will-one-day-have-ai-generated-content-not-friends-and-family">adjust their recommendations</a>.
Moreover, Instagram users have the ability to indicate their interest in specific recommended reels, prompting the service to display more content of similar types. This feature complements the existing &#8220;Not Interested&#8221; option introduced in 2021.
Meanwhile, earlier this month, Meta expanded its policy on AI-generated content, <a href="https://www.benzinga.com/news/24/04/38120400/meta-expands-labels-for-ai-generated-content-to-include-photos-and-audio-across-facebook-instagram-a">introducing labels for AI-generated content</a> across Facebook, Instagram, and Threads. This move aimed to provide users with more context about the content they see. 
Photo courtesy: Anthony Quintano on Flickr
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/04/38370806/elon-musk-calls-social-security-the-biggest-ponzi-scheme-ever-maybe-ai-and-robots-will-save-it?itm_source=parsely-api" target="_blank" rel="noreferrer noopener"><a href="https://www.benzinga.com/news/24/04/38351566/mark-zuckerberg-didnt-sell-facebook-for-1b-but-would-he-have-sold-for-5t-this-was-meta-ceos-thought?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Didn&#8217;t Sell Facebook For $1B But Would He Have Sold For $5T? This Was Meta CEO&#8217;s Thought Process</a></a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Meta CEO Mark Zuckerberg: 'More Than 50% Of The Content People See On Instagram Is Now AI Recommended'

Wednesday saw a varied performance across major U.S. indices. The Dow Jones Industrial Average dipped slightly by 0.1% to reach 38,460.92, while the S&amp;P 500 experienced marginal growth, edging up by 0.02% to settle at 5,071.63. Meanwhile, the Nasdaq saw a modest increase of 0.1% to reach 15,712.75.
These are the top stocks that gained the attention of retail traders and investors throughout the day.
Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)
Meta Platforms closed the day down 0.52% at $493.50, with an intraday high of $510 and a low of $484.58. The company&#8217;s 52-week high and low are $531.49 and $207.13 respectively. Despite higher costs and guidance, the Mark Zuckerberg-led company reported a 27% year-over-year increase in <a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding">first-quarter revenue</a> to $36.45 billion, beating the Street consensus estimate. 
Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>)
Snap shares ended the day down 2.72% at $11.08, with an intraday high of $11.48 and a low of $10.96. The company&#8217;s 52-week high and low are $17.9 and $7.86 respectively. Snap shares initially got a boost following the <a href="https://www.benzinga.com/news/24/04/38405744/whats-going-on-with-snap-stock-today">passage of a bill</a> to ban or force a sale of TikTok, but later pulled back. 
Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)
See Also: <a href="https://www.benzinga.com/news/24/04/38392548/ups-earnings-show-the-weight-of-170-000-salaries-while-it-learns-to-navigate-shipping-slump?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">UPS Earnings Show The Weight Of $170,000 Salaries While It Learns To Navigate Shipping Slump</a>
Amazon shares closed down 1.64% at $176.59, with an intraday high of $180.32 and a low of $176.18. The company&#8217;s 52-week high and low are $189.77 and $101.15 respectively. Amazon launched a new affordable <a href="https://www.benzinga.com/markets/equities/24/04/38398189/enhanced-convenience-amazon-launches-new-affordable-grocery-delivery-subscription">grocery delivery subscription</a> for Prime members and EBT customers. 
International Business Machines Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>)
IBM shares ended the day up 1.05% at $184.10, with an intraday high of $184.29 and a low of $181.4. The company&#8217;s 52-week high and low are $199.18 and $120.55 respectively. IBM reported a 1% year-over-year increase in <a href="https://www.benzinga.com/news/earnings/24/04/38416255/ibm-q1-earnings-revenue-miss-eps-beat-hashicorp-acquisition-ai-strategy-strength-and-more">first-quarter revenue</a> to $14.5 billion, missing the consensus estimate. 
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla shares surged 12.06% to close at $162.13, with an intraday high of $167.97 and a low of $157.51. The company&#8217;s 52-week high and low are $299.29 and $138.8 respectively. Despite missing analyst estimates for the first quarter, Tesla shares soared following the company's quarterly report. CNBC TV host Jim Cramer <a href="https://www.benzinga.com/news/earnings/24/04/38412375/jim-cramer-says-tesla-stock-could-climb-to-175-today-on-back-of-elon-musk-comments-everything-that-">expressed his surprise</a> that the stock hasn&#8217;t moved even higher on investor sentiment. 
Photo by WHYFRAME on Shutterstock
Prepare for the day&#8217;s trading <a href=""Premarket">with top premarket movers and news</a> by Benzinga.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38350014/elon-musk-reacts-to-teslas-pricing-debate-only-a-fool-thinks?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts To Tesla&#8217;s Pricing Debate: &#8216;Only A Fool Thinks ….&#8217;</a>
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AMZN

SNAP

TSLA

Meta Platforms, Snap, Amazon, IBM, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Meta Platforms&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CEO&nbsp;Mark Zuckerberg&nbsp;has acknowledged pop star&nbsp;Taylor Swift&#8217;s debut on his social media platform Threads during the company&#8217;s <a href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding">first-quarter financial results</a> announcement.
What Happened: On Wednesday, in his opening statement, Zuckerberg, mentioned <a href="https://www.benzinga.com/news/23/10/35431135/are-reports-of-metas-threads-death-greatly-exaggerated-mark-zuckerberg-says-the-twitter-killer-has-a">the growth of Threads</a>, with over 150 million monthly active users. 
He then went on to specifically highlight Swift&#8217;s entry on the platform saying, &#8220;And of course my daughters&nbsp;would want me to mention&nbsp;that Taylor Swift is now&nbsp;on Threads — that one&nbsp;was a big deal in&nbsp;my house.&#8221; 
See Also:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/04/38348747/not-something-steve-jobs-would-probably-do-gurman-says-apple-should-go-against-the-grain-and-low?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Sports A Beard In A New Instagram Video…Is That For Real?</a>
Swift joined Threads on the&nbsp;same day (April 19) her new album,&nbsp;The Tortured Poets Department (TTPD), was released. Zuckerberg welcomed her to the platform with a reference to her song &#8220;Blank Space,&#8221;&nbsp;saying, &#8220;Nice to meet you,&nbsp;where you been?&#8221; At the&nbsp;time of writing, Swift had&nbsp;over 9.3 million followers on&nbsp;Threads.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24211150/Screenshot-2024-04-25-at-6.41.43%E2%80%AFAM-720x1024.png" alt="" class="wp-image-307578" /></figure>
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Why It Matters: This isn&#8217;t the first time Zuckerberg has shown his admiration for Swift. In 2023, he <a href="https://www.benzinga.com/general/entertainment/23/07/33477808/zuckerberg-has-bad-blood-with-musk-but-love-story-with-taylor-swift-attends-concert-with-be">attended one of her concerts</a> with his family,&nbsp;posting about it on Instagram&nbsp;with the caption &#8220;Life of a girl dad.&#8221; 
At the time, the Meta CEO was not only there to accompany his family but sported a flurry of friendship bracelets on his wrist, which has become trademark accessories&nbsp;of any true &#8220;Swiftie.&#8221; On top of that, his face was adorned with what seemed to be small sequins or rhinestones arranged in a circle.
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Meta reported its first-quarter financial results, which showed a 27% year-over-year increase in revenue, reaching $36.45 billion. In the first quarter, the company announced earnings per share of $4.71, surpassing the Street&#8217;s estimate of $4.33.
Image Credits &#8211; Shutterstock
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/general/entertainment/24/04/38345794/mark-zuckerberg-spills-the-beans-on-his-bromance-with-nvidias-jensen-huang-hell-yeah-lets-m" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Spills The Beans On His Bromance With Nvidia's Jensen Huang: ‘Hell Yeah, Let's Make Cheesesteaks</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Entertainment

Mark Zuckerberg Gives Shoutout To Taylor Swift's Debut On Threads, Says 'That One Was A Big Deal In My House'

Edward Snowden has slammed the U.S. Department of Justice&#8217;s recent actions against app developers, advocating for financial privacy in a recent social media post.
What Happened: On Tuesday, Snowden took to X, formerly Twitter, to express his disapproval of the Department of Justice&#8217;s recent actions. He tweeted, &#8220;The Department of &#8216;Justice&#8217; has once again criminalized the developers of an app that restores financial privacy. The way to fix this it to make money private by default. Privacy must never be &#8216;exceptional,&#8217; or they will make it criminal.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The Department of &quot;Justice&quot; has once again criminalized the developers of an app that restores financial privacy. The way to fix this it to make money private by default. Privacy must never be &quot;exceptional,&quot; or they will make it criminal.
&mdash; Edward Snowden (@Snowden) <a href="https://twitter.com/Snowden/status/1783222542464884911?ref_src=twsrc%5Etfw">April 24, 2024</a></blockquote>
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This post came in response to the recent arrest and charges against the founders and CEO of a cryptocurrency mixing service. 
The founders and CEO of cryptocurrency mixing service, Samourai Wallet, have been arrested and charged with money laundering and unlicensed money transmitting offenses. The charges stem from the company&#8217;s alleged involvement in over $2 billion in unlawful transactions and more than $100 million in money laundering transactions.
According to the United States Department of Justice, Keonne Rodriguez, CEO and co-founder of Samourai Wallet, and William Lonergan Hill, CTO and co-founder, were arrested on Wednesday. The charges arise from the defendants&#8217; development, marketing, and operation of a cryptocurrency mixer that facilitated illegal transactions from dark web markets, such as Silk Road and Hydra Market.
U.S. Attorney Damian Williams stated that Rodriguez and Hill knowingly facilitated the laundering of over $100 million of criminal proceeds from various illegal activities. The U.S. will seek Hill&#8217;s extradition from Portugal to stand trial in the United States, he was arrested in the European Union country on Wednesday morning.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38349807/bitcoin-signals-potential-67-gain-as-this-key-metric-dips-below-90-day-average-analyst-say?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Signals Potential 67% Gain As This Key Metric Dips Below 90-Day Average: Analyst Says &#8216;Perfect Ti</a>
Why It Matters: Snowden&#8217;s tweet reflects his ongoing support for financial privacy, particularly in the context of cryptocurrency. He has previously <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36751582/edward-snowden-supports-legal-fund-for-tornado-cash-co-founder-roman-storm-privacy-is-not-">endorsed a legal defense fund</a> for Roman Storm, co-founder of Tornado Cash, a cryptocurrency mixing service embroiled in legal issues. Snowden has been vocal in his belief that &#8220;Privacy is not a crime.&#8221;
This recent post from Snowden also aligns with the views of former U.S. Presidential candidate Vivek Ramaswamy, who has argued that <a href="https://www.benzinga.com/markets/cryptocurrency/23/12/36190138/vivek-ramaswamy-thinks-penalizing-tornado-cash-mixer-was-illegal-and-unconstitutional">penalizing an entire protocol</a> or way of doing business is illegal and unconstitutional. Ramaswamy has specifically criticized the Treasury Department&#8217;s decision to sanction Tornado Cash.
These events highlight the ongoing debate around financial privacy, particularly in the realm of cryptocurrencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), and the legal challenges faced by companies operating in this space.
Photo Courtesy: Wikimedia Commons
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38395178/dogecoin-could-outperform-bitcoin-thanks-to-consolidation-in-the-golden-pocket-says-trader?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Could Outperform Bitcoin Thanks To Consolidation In The Golden Pocket, Says Trader: &#8216;This Is A Very Good Sign&#8217;</a>
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Politics

Edward Snowden Slams Justice Department For Action Against Samourai Wallet Co-Founders: 'The Way To Fix This Is To Make Money Private By Default'

In a recent development, Senate Minority Leader Mitch McConnell (R-Ky.) has lambasted President Joe Biden for the U.S. withdrawal from Afghanistan, suggesting it served as a &#8220;green light&#8221; for Russian President Vladimir Putin.
What Happened: McConnell expressed his disapproval on Fox News&#8217;s &#8220;America&#8217;s Newsroom&#8221; following the Senate&#8217;s approval of an aid package for Ukraine after a long delay, <a href="https://thehill.com/policy/international/4619508-mcconnell-hits-biden-for-sending-a-green-light-to-putin-with-afghanistan-withdrawal/">reported</a> The Hill.
McConnell asserted that the Afghanistan exit was a major misstep by Biden, indicating weakness globally. McConnell has consistently opposed the withdrawal since 2021, describing it as &#8220;one of the worst foreign policy decisions in American history.&#8221;
&#8220;We kept the lid on terrorism there. We shouldn't have withdrawn the troops,&#8221; said McConnell in the Fox interview. &#8220;When we did, that was like sending a green light to Putin, who was already thinking seriously about moving his troops up against the border."
Post-withdrawal, Russia invaded Ukraine. Ukrainian President Volodymyr Zelensky has frequently requested more aid from a divided Congress. The recently approved package will provide $61 billion to Ukraine for its war.
See Also: <a href="https://www.benzinga.com/news/24/04/38401616/biden-vs-trump-one-candidate-outperforms-his-2020-numbers-as-the-other-loses-support-among-2-key-vot?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Biden Vs. Trump: One Candidate Outperforms His 2020 Numbers As The Other Loses Support Among 2 Key Voter Categories</a>
Why It Matters: The U.S. withdrawal from Afghanistan has been a contentious issue. Gen. Frank McKenzie, former commander of the U.S. Central Command, warned of an <a href="https://www.benzinga.com/news/24/04/38016471/former-top-general-sounds-alarm-on-rising-isis-threat-to-us-bemoans-bidens-afghanistan-withdrawal">escalating ISIS threat</a> to the U.S. following the withdrawal.
President Biden, at the time, defended his decision, arguing that remaining in an endless war was <a href="https://www.benzinga.com/government/21/08/22524333/biden-defends-afghanistan-withdrawal-blames-kabuls-fall-on-afghan-military-leaders-and-trump">not in the best interests</a> of the American people.
However, Secretary of State Antony Blinken admitted in 2023 that the U.S. was not <a href="https://www.benzinga.com/news/23/04/31709570/blinken-says-us-wasnt-fully-prepared-for-afghanistan-crisis-as-white-house-puts-blame-on-donald-trum">fully prepared</a> for the fall of Kabul.
Recently, Russia warned of a &#8216;humiliating fiasco&#8217; for the U.S. in its support for Ukraine, <a href="https://www.benzinga.com/24/04/38349780/russia-foresees-humiliating-fiasco-for-us-in-ukraine-support-kremlin-drops-vietnam-and-afghanistan-r">drawing parallels</a> with Vietnam and Afghanistan.
Photo by Consolidated News Photos on Shutterstock
Read Next: <a href="https://www.benzinga.com/news/24/04/38356833/liz-cheney-says-trump-doing-everything-possible-to-postpone-jan-6-case-beyond-election-deep-flaws-in?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Liz Cheney Says Trump &#8216;Doing Everything Possible&#8217; To Postpone Jan. 6 Case Beyond Election: &#8216;Deep Flaws In Character…Make Him Unfit To Serve As President&#8217;</a>
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Biden's Afghanistan Exit Slammed By Mitch McConnell: 'Like Sending A Green Light' To Russian President

The U.S. Supreme Court is preparing to review a case on Thursday that questions if former President Donald Trump can assert immunity from prosecution for actions carried out during his term in office.
What Happened: This case is the first of its kind where the Supreme Court is examining an appeal from one of Trump&#8217;s four criminal indictments. Trump&#8217;s defense, which claims immunity from prosecution even post-presidency, has been rejected by two lower courts previously, <a href="https://thehill.com/regulation/court-battles/4618415-supreme-court-to-consider-whether-president-trump-is-immune-from-prosecution/">reported</a> The Hill.
Three justices on the bench, Neil Gorsuch, Brett Kavanaugh, and Amy Coney Barrett, were nominated by Trump. However, the court&#8217;s verdict could potentially challenge Trump&#8217;s assertion that he should not be prosecuted.
Critics argue that a ruling favoring Trump could disrupt the balance of power in the U.S., giving undue authority to presidents during and after their term. Conversely, Trump maintains that the presidency cannot operate without immunity, as it would expose officeholders to extortion and unfair retribution.
&#8220;It's so fundamental to the presidency, where a president is truly trying to corrupt the system and perpetuate himself in office,&#8221; said John Dean, former White House counsel to President Richard Nixon, according to the report.
Jack Smith, the special counsel leading the federal prosecutors, argues that presidents, like all citizens, should be accountable for their actions. He dismisses the idea that this would weaken presidential power.
See Also: <a href="https://www.benzinga.com/news/24/04/38368085/what-happens-if-trump-gets-convicted-will-he-go-to-prison-heres-how-it-likely-to-play-out?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What Happens If Trump Gets Convicted? Will He Go To Prison? — Here&#8217;s How It&#8217;s Likely To Play Out</a>
The Supreme Court&#8217;s decision timing could greatly affect the progress of Trump&#8217;s other criminal cases, particularly if he regains the presidency in the forthcoming election. The case is also being monitored for its potential impact on the scheduling of Trump&#8217;s trials.
Legal experts have observed that the lower courts&#8217; strong disapproval of Trump&#8217;s arguments might suggest a similar reaction from the conservative-majority Supreme Court. The justices&#8217; position will become more apparent when they convene on Thursday.
Why It Matters: Trump&#8217;s Supreme Court case, focusing on presidential immunity amid criminal charges for election interference, had strategic implications. While the Court might not fully support Trump&#8217;s immunity claim, a <a href="https://www.benzinga.com/news/24/04/38348880/donald-trump-could-still-win-even-if-he-loses-in-supreme-court-over-presidential-immunity-claim">redirection to a lower court</a>, potentially delaying proceedings, aligned with his interests. The case, involving false election certificates submitted by Trump, could have seen further delays and nuanced rulings regarding presidential immunity.
Adding to the complexity, Trump&#8217;s <a href="https://www.benzinga.com/news/24/04/38262159/trumps-request-to-attend-supreme-court-hearing-barrons-high-school-graduation-denied-by-hush-money-t">request to attend</a> the Supreme Court arguments was denied amidst his ongoing hush money trial in New York, as reported by <a href="https://www.benzinga.com/news/24/04/38262159/trumps-request-to-attend-supreme-court-hearing-barrons-high-school-graduation-denied-by-hush-money-t">Benzinga</a> earlier this month.
Photo courtesy: Shutterstock
Read Next: <a href="https://www.benzinga.com/news/24/04/38356833/liz-cheney-says-trump-doing-everything-possible-to-postpone-jan-6-case-beyond-election-deep-flaws-in?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Liz Cheney Says Trump &#8216;Doing Everything Possible&#8217; To Postpone Jan. 6 Case Beyond Election: &#8216;Deep Flaws In Character…Make Him Unfit To Serve As President&#8217;</a>
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Trump's Presidential Immunity Claim Under Supreme Court Review: 'It's So Fundamental To The Presidency'

Former President Donald Trump&#8217;s close allies, including Boris Epshteyn, Mark Meadows, and Rudy Giuliani, have been indicted by an Arizona grand jury. The indictment pertains to their alleged involvement in attempts to overturn the 2020 election results.
What Happened: The Arizona grand jury handed down an indictment against several individuals associated with Trump&#8217;s 2020 campaign. These individuals stand accused of trying to subvert the election results, including the fraudulent electors from Arizona, <a href="https://edition.cnn.com/2024/04/24/politics/arizona-criminal-charges-2020-election-subversion/index.html">reported</a> CNN on Wednesday.
Among the indicted are Epshteyn, a former White House aide and one of Trump&#8217;s closest advisers, former White House chief of staff Meadows, and former New York Mayor Giuliani, as per a source familiar with the investigation, according to CNN .
See Also: <a href="https://www.benzinga.com/general/politics/24/04/38362005/donald-trump-may-soon-receive-36-million-more-djt-shares-key-milestone-ahead?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump May Soon Receive An Additional $1.26B In DJT Shares: Key Milestone Ahead (UPDATED)</a>
Arizona Attorney General Kris Mayes announced the indictment on Wednesday night, focusing on the 11 individuals who acted as pro-Trump electors in the state. The names of several other indicted defendants remain redacted until they have been served, Mayes stated.
While Trump himself has not been charged in Arizona, the indictment details suggest he is referred to as &#8220;Unindicted Coconspirator 1&#8221;.
Why It Matters: The indictment of Trump&#8217;s allies in Arizona marks a significant development in the ongoing legal battles surrounding the 2020 election. 
In an interview with Fox News in August 2023, Rep. Marjorie Taylor Greene (R-Ga), a staunch Trump supporter, suggested that the ex-president could potentially <a href="https://www.benzinga.com/news/23/08/33956035/marjorie-taylor-greene-says-donald-trump-may-face-fifth-indictment-in-arizona?itm_source=parsely-api">face a fifth indictment</a>, this time in Arizona, based on a similar alleged fraudulent elector scheme aimed at undermining President Joe Biden&#8217;s narrow victory in the state. 
Image made using photos on Shutterstock
Read Next: <a href="https://www.benzinga.com/news/24/04/38349699/marjorie-taylor-greene-says-mike-johnsons-speakership-is-over-after-house-passes-ukraine-aid-package?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Marjorie Taylor Greene Says Mike Johnson&#8217;s Speakership Is &#8216;Over&#8217; After House Passes Ukraine Aid Package: &#8216;Resign And Allow Us To Move Forward&#8217;</a>
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Trump Allies Giuliani, Meadows Indicted By Arizona Grand Jury For Alleged 2020 Election Subversion — Ex-President Possibly 'Unindicted Co-conspirator 1': Report

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Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

WNBA star Brittney Griner is sharing her story for the first time about spending 10 months in a Russian prison in a special edition of 20/20.
In a clip of the emotional interview, Griner shared her experience of having been <a href="https://www.benzinga.com/markets/cannabis/22/03/26007231/breaking-russia-detains-wnba-all-star-brittney-griner-for-alleged-possession-of-hash-oil">arrested and incarcerated</a> after a small amount of cannabis oil was found in her suitcase at a Moscow airport. At the time, Feb. 17, 2022 — just one week before Russia invaded Ukraine — Griner was heading back to Russia where she played for seven years during the off-season from her U.S. team, a center for the Phoenix Mercury.
"I was just so scared for everything because there&#8217;s so much unknown," Griner <a href="https://abcnews.go.com/US/wnba-star-brittney-griner-opens-harrowing-russian-detention/story?id=109495984">told</a> ABC's&nbsp;Robin Roberts,&nbsp;co-anchor of&nbsp;Good Morning America.
Roberts asked Griner what was going on in her mind when she realized that the cannabis cartridges were found in her luggage. Griner, a medical marijuana patient in the U.S., said she realized immediately that her mistake could have devastating consequences.
"My life is over right here," Griner answered. 
Griner admitted that the conditions were so terrible that she had thoughts of ending her life. "The mattress had a huge blood stain on it. I had no soap, no toilet paper. That was the moment where I just felt less than a human," she told Roberts. "I just didn&#8217;t think I could get through what I needed to get through.&#8221;
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="1st look at Brittney Griner&#039;s interview" width="500" height="281" src="https://www.youtube.com/embed/ovmtrgsjwYA?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
When Griner <a href="https://www.benzinga.com/markets/cannabis/22/07/27987966/breaking-brittney-griner-pleads-guilty-biden-lashes-out-over-her-detention-russia-calls-it-hype-">pleaded guilty to drug charges</a> in July 2022, she told a judge in Moscow that she accidentally packed the vape cartridges in her luggage and did not intentionally break Russian law. 
Sentenced to <a href="https://www.benzinga.com/markets/cannabis/22/08/28355539/closing-remarks-in-brittney-griner-case-verdict-and-sentencing-expected-soon">nine years in prison</a> in August, Griner was released on Dec. 8 in a prisoner swap for Russian arms dealer&nbsp;Viktor Bout. But not before being moved to a <a href="https://www.benzinga.com/markets/cannabis/22/11/29642858/brittney-griner-being-moved-to-russian-penal-colony-her-lawyers-dont-yet-know-exact-location">notorious penal colony</a>.
In addition to the exclusive interview, Griner&#8217;s <a href="https://www.benzinga.com/markets/cannabis/23/12/36147628/brittney-griner-will-exclusively-share-her-story-across-multiple-platforms-via-espn-disney-partn">story is the subject of an ESPN documentary</a> and a potential scripted series with ABC detailing her experience.
Photo: Courtesy of ESPN press room

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Media

Brittney Griner Talks For The First Time About Her Russian Detention In Exclusive '20/20' Special

For the first time in more than 130 years, voters will likely choose between two candidates with presidential experience for the <a href="https://www.benzinga.com/topic/2024-election">2024 presidential election.</a>
Here's a look at who voters in swing states currently favor in a 2020 election rematch of Donald Trump and Joe Biden.
What Happened: A close race is expected between Biden and Trump in the 2024 election based on election polls <a href="https://www.benzinga.com/general/sports-betting/24/04/38417836/trump-and-biden-get-ready-2024-election-betting-odds-point-to-major-showdown">and betting odds.</a>
Key demographics like young voters and old voters could play an important role in the election, along with <a href="https://www.benzinga.com/topic/swing-states">key swing states.</a>
A new poll of voters in swing states shows Biden gaining ground over Trump, who has led the way in these key states in recent months.
Here are the results of the recent swing state <a href="https://pro.morningconsult.com/analysis/swing-state-polling-april-2024">poll </a>from Morning Consult for the month of April, with the results from March in parentheses.
Arizona: 49% Trump (48%), 42% Biden (43%)
Georgia: 49% Trump (49%), 43% Biden (42%)
Michigan: 47% Biden (45%), 45% Trump (45%)
Nevada: 51% Trump (46%), 43% Biden (44%)
North Carolina: 51% Trump (49%), 41% Biden (43%)
Pennsylvania: 47% Trump (45%), 46% Biden (45%)
Wisconsin: 48% Trump (45%), 44% Biden (46%)
Related Link: <a href="https://www.benzinga.com/general/politics/24/04/38358680/can-biden-or-trump-build-ikea-furniture-2024-election-polls-may-have-gone-too-far">Can Biden Or Trump Build IKEA Furniture? 2024 Election Polls May Have Gone Too Far</a>
Why It's Important: The new poll shows Trump gaining support in Arizona, Nevada, North Carolina, Pennsylvania and Wisconsin. Trump has some of his biggest leads in Arizona, Nevada and North Carolina since polling began in October 2023 for the swing states.
Biden gained support in Georgia, Michigan and Pennsylvania, but lost support in several states. The key win for the current president is taking a lead in Michigan for the first time since polling began in October.
The new poll also showed Biden gaining voter trust on several items including Medicare and Social Security.
The <a href="https://www.benzinga.com/general/politics/24/03/37884006/trump-vs-biden-key-swing-states-arizona-nevada-michigan-wisconsin-show-close-races-heres-the-rol">seven swing states </a>together represent 93 electoral votes in the 2024 election. Six of the seven swing states were won by Biden in the 2020 election, with Trump winning North Carolina. Five of the seven swing states won by Biden in 2020 flipped from Trump to Biden in the election, including Arizona, Michigan and Wisconsin.
Read Next: <a href="https://www.benzinga.com/general/politics/24/04/38366379/trump-committed-conspiracy-to-undermine-the-integrity-of-a-presidential-election-prosecution-all">Trump Committed &#8216;Conspiracy To Undermine The Integrity Of A Presidential Election,&#8217; Prosecution Alleges In Hush Money Trial</a>
Photo: Shutterstock

Trump Vs. Biden: Former President Dominates Swing States, But Loses One For First Time In New 2024 Election Poll

If you're the parent of a child under 12 and have streaming platform Disney+, there's a good chance you've watched Australian <a href="https://www.benzinga.com/general/entertainment/23/12/36400565/is-disneys-percy-jackson-reboot-a-streaming-sensation-the-impact-of-new-shows-and-blueys-tr">animated hit &#8220;Bluey.</a>&#8220;
The show is turning in big numbers for Walt Disney Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>), but the company also hinted at the show ending or having less content going forward.
What Happened: Streaming platform Disney+, part of the Walt Disney Company, has one of the<a href="https://www.benzinga.com/general/entertainment/24/04/38024244/appletv-a-streaming-winner-new-survey-shows-platform-has-smallest-library-highest-rated-con"> largest content libraries</a> of family-based content, which is a draw to getting adults with children to subscribe to the platform.
Among the hit shows on Disney+ is the Australian show "Bluey," with Disney having the rights in the U.S. The show has drawn praise from kids and from parents, thanks to its relatable storylines.
On April 14, Disney+ aired the episode "The Sign" from the third season of the show. At 28 minutes, the episode was around three times longer than most episodes.
The episode had 10.4 million views globally in its first week on Disney+, <a href="https://www.hollywoodreporter.com/tv/tv-news/bluey-the-sign-ratings-disney-plus-1235879242/">according </a>to The Hollywood Reporter. This ranked as the most-watched episode in the show's history and had the biggest viewership for a Disney Junior show on Disney+.
This episode and its predecessor "Ghostbasket" left fans asking questions about the future as the Heeler family featured on "Bluey" dealt with a potential sale of their home and a move to another city.
Fans were treated to a surprise with the season 3 finale episode appropriately titled, "Surprise."
The episode included a flash forward to main character Bluey as an adult and with a child —&nbsp;leaving more questions about if the show is ending, as many voiced on social media that it felt more like a series finale than a season finale.
Related Link:<a href="https://www.benzinga.com/news/earnings/24/02/36993564/disney-invests-1-5b-in-fortnite-owner-epic-games-in-biggest-ever-gaming-entry-posts-q1-earnings-bea"> Disney Invests $1.5B In Fortnite Owner Epic Games In &#8216;Biggest Ever&#8217; Gaming Entry, Posts Q1 Earnings Beat, Revenue Miss</a>
What's Next: Show creator Joe Brumm told The Hollywood Reporter in 2023 that the BBC, which originally commissioned the show alongside Australia's ABC, to not talk about the kids' voices or the future of the show.&nbsp;
Brumm has also said he's taking a break after the third season, which added to the speculation about the show's future.&nbsp;
A producer of "Bluey" recently confirmed to <a href="https://www.bbc.com/news/entertainment-arts-68795941">BBC </a>that the show will return in the future. Another producer also said it would be a "dream" to make a movie based on Bluey and her family in the future.
"Bluey" debuted on the streaming platform in 2020, becoming one of the most-watched shows in the U.S. on streaming platforms. Data from Nielsen showed the series had an average of 1.19 billion minutes viewed per week across a three-season library of 150 episodes.
The children's show is the most streamed show in the U.S. in 2024 based on viewing time tracked by Nielsen. The show ranked second in 2023 and sixth in 2022.
The show has been a huge hit for Disney and a gap between seasons or an end to the show could eliminate one of the key pieces of content.&nbsp;
In a highly competitive streaming market, platforms need shows like "Bluey" that aren't available other places and are must-watch content for at least one age demographic.
With its appeal to kids and parents alike, "Bluey" hits multiple demographics.
Read Next: <a href="https://www.benzinga.com/general/entertainment/24/03/37701205/taylor-swift-concert-film-hits-streaming-heres-how-to-watch-the-eras-tour-taylors-version">Taylor Swift Concert Film Hits Streaming: Here&#8217;s How To Watch &#8216;The Eras Tour (Taylor&#8217;s Version)&#8217;</a>
Photo: Courtesy Disney+ UK

Bluey Dominates Ratings For Disney+: Kids, Parents Hoping Hit Show Not Over

<h1 class="wp-block-heading">Top Stories for April 24, 2024:</h1>
<ol>
<li>American Battery Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABAT#NASDAQ">ABAT</a>) updated <a href="https://www.benzinga.com/news/24/04/38404516/american-battery-technology-company-publishes-updated-initial-assessment-and-economic-analysis-for-t">its initial assessment</a> for the Tonopah Flats Lithium Project (TFLP).</li>
</ol>
It refined the project&#8217;s scope to use only measured and indicated mineral resources, excluding the more speculative inferred resources.&nbsp;
This strategy improves the project's economics by enhancing access to higher-quality resources and optimizing processing at its newly built demonstration facility. 
Key updates include a 7% reduction in total processed claystone, an 8% increase in lithium grade, a 7% decrease in production costs and a 6% rise in the project&#8217;s net present value to $4.67 billion.
<ol start="2">
<li>Steel Dynamics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) reported first-quarter results, with net sales of $4.7 billion and net income of $584 million. </li>
</ol>
Highlights include 3.3 million tons of steel shipments, operating income of $751 million and adjusted EBITDA of $879 million.&nbsp;
The company&#8217;s financial health was further supported by liquidity of $3.1 billion and shareholder returns through $298 million in stock repurchases and an 8% dividend increase.&nbsp;
Demand was solid across sectors, particularly automotive and construction, driving sequential improvements in earnings and operational performance.
Also Read:<a href="https://www.benzinga.com/topic/mining"> </a><a href="https://www.benzinga.com/news/24/04/38390383/copper-prices-approach-2-year-highs-whats-behind-analysts-12-000-price-prediction-for-2026">Copper Prices Approach 2-Year Highs: What&#8217;s Behind Analyst&#8217;s $12,000 Price Prediction For 2026?</a>
<ol start="3">
<li>Gold Royalty Corp (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/GROY#AMEX">GROY</a>) entered into a three-year mutual cooperation agreement with Taurus Mining Royalty Fund that allows both parties to co-invest in precious metals royalties and streams. </li>
</ol>
The agreement focuses on assets valued at $30 million or more and provides a framework for identifying and evaluating co-investment opportunities, with the option for each party to invest 25% to 50% in selected transactions.&nbsp;
Additionally, any future sales of interests acquired through this partnership will offer first rights to the other partner.
<ol start="4">
<li>Coeur Mining Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>) released its 2023 ESG Report, emphasizing its progress in environmental, social and governance efforts aligned with shareholder value. </li>
</ol>
The report highlights Coeur&#8217;s achievement of the lowest injury rate among peers at 0.46 and its adoption of the Global Industry Standard on Tailings Management (placing it among the top 17% of non-International Council on Mining and Metals companies).
The company also shared its commitment to biodiversity through the Biodiversity Management Standard and advancements in climate resilience, aiming for a 35% reduction in GHG emissions by the end of 2024.
Now Read:<a href="https://www.benzinga.com/"> </a><a href="https://www.benzinga.com/m-a/24/04/38405991/equinox-gold-snaps-up-greenstone-gold-mines-for-995m-in-incredibly-rare-deal">Equinox Gold Snaps Up Greenstone Gold Mines For $995 Million In &#8216;Incredibly Rare&#8217; Deal</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!
Photo: Jose Luis Stephens via Shutterstock.

Commodities

ABAT

GROY

STLD

American Battery Optimizes Lithium Project; Steel Dynamics Reports Q1 Results; Gold Royalty Teams Up With Taurus Mining And More: Wednesday's Top Mining Stories

Helix Energy Solns Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLX#NYSE">HLX</a>) reported quarterly losses of $(0.03) per share which missed the analyst consensus estimate of $0.02 by 250 percent. The company reported quarterly sales of $296.211 million which missed the analyst consensus estimate of $296.725 million by 0.17 percent. This is a 18.44 percent increase over sales of $250.084 million the same period last year.

Earnings Misses

Helix Energy Solns Gr Q1 2024 Adj EPS $(0.03) Misses $0.02 Estimate, Sales $296.211M Miss $296.725M Estimate

National Bank Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NBHC#NYSE">NBHC</a>) reported quarterly earnings of $0.82 per share which beat the analyst consensus estimate of $0.76 by 7.89 percent. This is a 22.64 percent decrease over earnings of $1.06 per share from the same period last year. The company reported quarterly sales of $101.724 million which missed the analyst consensus estimate of $103.683 million by 1.89 percent. This is a 7.15 percent decrease over sales of $109.554 million the same period last year.

Earnings Beats

NBHC

National Bank Holdings Q1 2024 GAAP EPS $0.82 Beats $0.76 Estimate, Sales $101.724M Miss $103.683M Estimate

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