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Investment guru Warren Buffett conceded on Saturday that he was wrong on the influence of technological advances, especially <a href="https://www.benzinga.com/markets/equities/24/05/38610325/tim-cook-very-bullish-on-apples-generative-ai-efforts-despite-lower-capital-expenditure-than-riv">generative AI.</a>
What Happened: Speaking at Berkshire Hathaway&#8217;s annual shareholder meeting in Nebraska, Omaha, Buffett said, &#8220;I don&#8217;t know anything about AI.&#8221; He reminded shareholders about his comments about nuclear weapons at last year&#8217;s meeting.
&#8220;We let the genie out of the bottle when we developed nuclear weapons. That genie has been doing terrible things lately, and the power of the genie scares the hell out of me, and I don't know any way to get the genie back into the bottle,&#8221; he said, repeating his comments from the previous meeting.
On Saturday, he said AI is somewhat similar. 
&#8220;It's part way out of the bottle,&#8221; he said, adding that &#8220;it&#8217;s enormously important and it&#8217;s going to be done by somebody.&#8221;
&#8220;We may wish we never be seeing that genie or it might do valuable things.&#8221;
Buffett recounted one experience with AI that frightened him. He said he was recently disturbed by a fake video of himself, which he said was so convincing he would have been tempted to send money to the scammers himself.
He, however, did agree that AI has potential to do good too.
&#8220;I don&#8217;t have any advice on how the world handles it,&#8221; he admitted.
 &#8220;I do think as a person who doesn&#8217;t understand a damn thing about it, it has enormous potential for good and enormous potential for harm, and I just don&#8217;t know how that plays out.&#8221;
See Also: <a href="https://www.benzinga.com/money/best-artificial-intelligence-stocks">Best Artificial Intelligence Stocks</a>
Why It&#8217;s Important: The technology of artificial intelligence, particularly generative AI like OpenAI&#8217;s ChatGPT chatbot, is becoming increasingly essential, finding its place in the corporate world and in the lives of consumers.
The AI frenzy bears resemblance to the dot-com bubble of the mid to late 90s, with analysts predicting its longevity. The tech industry&#8217;s key players have all enthusiastically embraced the AI arena, leading the revolution forward.
Analyst also see artificial general intelligence likely increasing productivity and acting as a big boost to GDP growth. 
That said, like Buffett, others have raised concerns about the unchecked proliferation of AI and its associated risks.
Tesla&#8217;s CEO Elon Musk, one of the co-founders of OpenAI, said at a two-day U.K. AI Safety Summit late last year that regulation of AI &#8220;will be annoying,&#8221; adding that &#8220;I think we've learned over the years that having a referee is a good thing.&#8221;
Recently, Nvidia&#8217;s Jensen Huang <a href="https://www.benzinga.com/news/24/04/38510989/nvidia-ceo-jensen-huang-predicts-ai-will-make-companies-hire-more-workers-with-higher-earnings-there">allayed concerns about human jobs potentially being displaced by AI and robots. </a>
&#8220;I believe that you still want humans in the loop, because we have good judgment, because there are circumstances that the machines are not — just not going to understand,&#8221; he said.
The&nbsp;Global X Artificial Intelligence &amp; Technology ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIQ#NASDAQ">AIQ</a>) closed Friday&#8217;s&nbsp;session up 0.34% at $32.76,&nbsp;and is up over 6.3% this year, indicating continued investor interest in the AI sector, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data.</a>
Read Next: <a href="https://www.benzinga.com/news/24/05/38630385/wanna-save-real-money-buffett-has-2-pieces-of-advice-for-cash-strapped-consumers">Wanna Save &#8216;Real Money?&#8217; Buffett Has 2 Pieces Of Advice For Cash-Strapped Consumers</a>
Photo: <a href="https://flickr.com/photos/fortunelivemedia/">Fortune Live Media</a> via flickr

News

Tech

Warren Buffett Fears The 'AI Genie' That's 'Part Out Of The Bottle' But Agrees It Has Potential To Do Good: 'Don't Know How That Plays Out'

Editor&#8217;s note: This story has been updated to include Warren Buffett&#8217;s explanation behind Berkshire&#8217;s current Apple stake. 
Warren Buffett&#8217;s Berkshire, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) trimmed its position in its key core holding, Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), a <a href="https://www.benzinga.com/markets/equities/24/05/38629833/berkshire-hathaways-q1-operating-earnings-surged-39-heres-why">10-Q report for the first quarter </a>filed with the SEC on Saturday showed.
Paring Equity Bets: Berkshire&#8217;s equity securities investment dropped from $353.84 billion in Q1 2023 to $335.86 billion in Q1 2024. Sector-wise, the firm reduced its exposure to banks, insurance and finance as well as consumer products, while upping its stakes in commercial, industrial and other stocks.
The proportion of money invested in Berkshire&#8217;s five core holdings, namely Apple, Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), American Express Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>), Coca-Cola Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) and Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) fell from 79% in the year-ago quarter to 75%.
The comparisons vs. a year-ago are as follows:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td></td>
<td>Stake (Q1&#8217;24)</td>
<td>Stake (Q1&#8217;23)</td>
<td>Change</td>
</tr>
<tr>
<td>Apple</td>
<td>$135.4B</td>
<td>$174.3B</td>
<td>(-22.32%)</td>
</tr>
<tr>
<td>Bank of America</td>
<td>$39.2B</td>
<td>$34.8B</td>
<td>+12.64%</td>
</tr>
<tr>
<td>American Express</td>
<td>$34.5B</td>
<td>$28.4B</td>
<td>+21.48%</td>
</tr>
<tr>
<td>Coca-Cola </td>
<td>$24.5B</td>
<td>$23.6B</td>
<td>+3.81%</td>
</tr>
<tr>
<td>Chevron </td>
<td>$19.4B</td>
<td>$18.8B</td>
<td>+3.19%</td>
</tr>
</tbody>
</table>
</figure>
See Also: <a href="https://www.benzinga.com/money/how-to-invest-in-startups">How To Invest In Startups</a>
The Apple Math: Apple shares have underperformed this year, shedding 4.63% for the year-to-date period and 10.82% for the first quarter. The decline came amid fears that the company&#8217;s fundamentals would deteriorate amid slow uptake of iPhones in its key China market and elsewhere.
Apple met modest expectations in the March quarter but reported a decline in revenue and earnings compared to the previous year. The company issued a June quarter forecast that was not as worse as feared. That said, investors are still skeptical as the company has not been very proactive with product improvements. Analysts have hinged hopes of a rebound on the launch of the AI-enabled iPhone 16 later this year and the company&#8217;s late entry into the AI arena.
Berkshire&#8217;s $135.4 billion Apple stake in the first quarter suggests the firm may have held 744.65 million shares at the end of the first quarter. The calculation is based on Apple&#8217;s average first-quarter stock price of $181.83. This is a 17.71% reduction from the 904.87 million Apple shares it held at the end of the fourth quarter.
The precise number of Apple shares Berkshire holds will be known when the firm files its 13F report for the first quarter with the SEC.
This marked the second straight quarter that the firm has cut its Apple stake. In the fourth quarter, <a href="https://www.benzinga.com/markets/equities/24/02/37151071/warren-buffetts-apple-appetite-waning-berkshire-trims-top-holding-ditches-big-homebuilder-bulks-">the firm lightened its Apple stake by 10 million shares.</a>
Buffett&#8217;s Take: When asked at the annual shareholder meeting if his view of the economics of Apple&#8217;s business or the company&#8217;s attractiveness as an investment has changed, Buffett replied that it has not.
&#8220;Charlie [Munger] and I looked at common stocks or marketable equities &#8230; as being businesses and so when we own a Dairy Queen or whatever we own it may be, we look at it as a business,&#8221; he said.
&#8220;We can buy really wonderful companies in the market, as businesses we can&#8217;t buy all of them.&#8221;
The billionaire said he does not attempt to predict market or pick stocks. He referred to the book &#8220;Intelligent Investor&#8221; by Benjamin Graham, which says that &#8220;if you look at stocks as businesses and treat the market as something that doesn&#8217;t tell you, isn&#8217;t there to instruct you, but it&#8217;s there to serve you, you will do a lot better over time.&#8221;
This is better than taking charts and listening to people talk about moving averages, he said.
Buffett mentioned that although the approach has evolved with the company&#8217;s capital, the fundamental principle remains the same.
As such, the investment guru clarified this is the reason why Berkshire still owns Apple. 
&#8220;We will own, unless something extraordinary happens, we will own Apple, American Express and Coca-Cola when Greg [Abel] takes over this place,&#8221; he said.
&#8220;We will end up unless something dramatically happens that really changes capital allocation strategy, we will have Apple as our largest investment.&#8221;
Under current conditions, Buffett stated that he wouldn&#8217;t mind building the cash position, considering the alternatives available in the equity markets.
Apple ended Friday&#8217;s session up 5.98% at $183.38, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data. </a>Berkshire&#8217;s Class A shares fell 0.56% to $603,000.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/05/38615551/warren-buffetts-berkshire-to-rake-in-226m-passively-in-a-jiffy-thanks-to-its-core-holding-apple">Warren Buffett&#8217;s Berkshire To Rake In $226M Passively In A Jiffy, Thanks To Its Core Holding Apple</a>
Photo: Shutterstock

Equities

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AAPL

Is This Why Berkshire Reduced Apple Stake By 18% In Q1? Buffett Gives Convincing Reason.

Elon Musk&#39;s Tesla Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) has officially incorporated Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) as a <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37766119/whopping-33-8-million-shifted-to-robinhood-and-people-suspect-this-person-could-be-behind-">payment option, albeit with a specific limitation.</a>
What Happened: Tesla&nbsp;updated its payments <a href="https://www.tesla.com/support/dogecoin">page </a>to include Dogecoin for merchandise purchases on its online platform.
The update also hints at the possibility of Dogecoin being accepted for specific products in the future.
Tesla&#39;s association with Dogecoin is not new. In January 2022, the company first accepted the meme cryptocurrency for merchandise like the Tesla Cyberwhistle and the &quot;Giga Texas&quot; belt buckle. Later, SpaceX, another Musk-led company, followed suit.
In March 2024, Musk suggested that Tesla might accept Dogecoin payments for its electric cars while visiting the Giga factory in Berlin. This led to a 10% surge in DOGE&#39;s price, although the spike was short-lived.
Also Read:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37573802/forget-dogecoin-and-shiba-inu-this-meme-coin-has-surged-nearly-70-in-just-24-hours" target="_blank">Forget Dogecoin And Shiba Inu &mdash; This Meme Coin Has Surged Nearly 70% In Just 24 Hours</a>
The recent announcement of Tesla&#39;s expanded use of Dogecoin has caused the meme coin&#39;s value to skyrocket by over 21% in the past 24 hours.
Why It Matters: Musk&#39;s influence on the crypto market, particularly Dogecoin, has been significant. In March 2024, <a href="http://www.benzinga.com/markets/cryptocurrency/24/03/37906584/dogecoin-soars-as-elon-musks-x-payments-gains-ground-enthusiasts-rally-with-800m-boost">Dogecoin saw a remarkable $800 million increase</a> in open interest within three days, following Musk&#39;s endeavors.
However, Musk&#39;s relationship with Dogecoin has had its share of controversies.
In June 2023, <a href="http://www.benzinga.com/markets/cryptocurrency/23/06/32904982/elon-musk-denies-owning-dogecoin-in-response-to-insider-trading-lawsuit">Musk denied owning Dogecoin</a> in response to a lawsuit accusing him of price manipulation. The following month, Musk was accused of financing an <a href="http://www.benzinga.com/markets/cryptocurrency/23/07/33239355/elon-musk-accused-of-financing-unlawful-harassment-campaign-against-dogecoin-investors">&quot;unlawful harassment campaign&quot;&nbsp;against Dogecoin investors</a>.
Despite these controversies, Tesla&#39;s recent move to accept Dogecoin for merchandise purchases signals a continued interest in the cryptocurrency and could potentially influence its future market performance.
Now Read:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/03/38014531/dogecoin-set-to-surge-over-200-says-crypto-analyst-its-going-to-do-something-insane-this-c">Dogecoin Set to Surge Over 200%, Says Crypto Analyst: &#39;It&#39;s Going To Do Something Insane This Cycle</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

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

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TSLA

Tesla's Dogecoin Adoption Sends Crypto Market Into Frenzy, Meme Coin Surges By Over 21%

The upcoming 2024 presidential race may not favor former President Donald Trump, as recent polls suggest a potential <a href="https://www.benzinga.com/news/24/03/37937751/trump-vs-biden-one-candidate-gains-ground-in-swing-states-shakes-up-election-race">defeat against current President Joe Biden.</a>
What Happened: Two polls, <a href="https://www.faupolling.com/wp-content/uploads/2024/04/Mainstreet_US_National_Apr_2024_Public.pdf">one </a>by Florida Atlantic University and Mainstreet Research and the other by Reuters/<a href="https://www.reuters.com/world/us/biden-has-marginal-1-point-lead-over-trump-reutersipsos-poll-shows-2024-03-14/">Ipsos</a>, indicate Trump lagging behind Biden.
The Florida Atlantic University poll surveyed 1,046 adults and found that 40% of voters favor Biden and 38% support Trump. When the poll was narrowed down to likely voters, Biden&#39;s lead rose to 44% against Trump&#39;s 39%.
Similarly, the Reuters/Ipsos poll, which surveyed 856 registered voters, showed a slight lead for Biden with 40% of the votes, compared to Trump&#39;s 39%. However, this lead has decreased from a four-point lead Biden had earlier in the month.
In contrast to these findings, recent polls from sources such as CNN and Bloomberg News, in collaboration with Morning Consult, indicate that Trump is ahead in six crucial swing states.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/04/38131579/donald-trump-reportedly-hid-billionaires-bond-offer-from-court-to-save-millions" target="_blank">Donald Trump Reportedly Hid Billionaire&#39;s Bond Offer From Court To Save Millions</a>
Thomas Gift, head of the Centre on U.S. Politics at University College London, warned against reading too much into the&nbsp;polls, and <a href="https://www.newsweek.com/donald-trump-joe-biden-polling-presidential-election-latest-1896865">told </a>Newsweek that Biden and Trump are &quot;neck and neck.&quot;
The presidential election is scheduled for Nov.&nbsp;5.
Why It Matters: The fluctuating poll numbers reflect a highly competitive race. A poll&nbsp;from early April showed <a href="http://www.benzinga.com/news/24/04/38131009/trump-vs-biden-one-candidate-appears-to-have-thin-lead-over-other-in-tight-race">Trump slightly ahead of Biden</a>, indicating a deeply divided electorate.
According to another poll, <a href="http://www.benzinga.com/news/24/04/38134467/trump-vs-biden-in-surprising-trend-one-candidate-is-gaining-favor-among-younger-voters-over-other">Trump has&nbsp;also been gaining traction </a>among younger voters, a demographic historically aligned with the Democrats.
However, a poll from late April showed a <a href="http://www.benzinga.com/news/24/04/38476026/trump-vs-biden-one-candidate-hold-slim-lead-over-other-in-latest-poll">slim lead for Trump, indicating a tightening race</a>. The shifting poll numbers and the divided electorate suggest a closely contested election come November.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/24/03/38012721/marjorie-taylor-greene-claims-she-has-proof-that-votes-for-donald-trump-in-2020-were-lost-in-the-mai" target="_blank">Marjorie Taylor Greene Claims She Has Proof That Votes For Donald Trump In 2020 Were &#39;Lost In The Mail&#39;: &#39;I Think He&#39;ll Be Vindicated Easily&#39;</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" style="box-sizing:inherit; color:rgba(var(--sk_highlight,18,100,163),1); text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photos: Shutterstock

Politics

General

Trump Vs. Biden: Latest Polls Don't Bode Well For One Candidate In Tight Presidential Race

InterDigital, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/idcc#NASDAQ">IDCC</a>) reported strong first-quarter 2024 results, with both the bottom line and top line surpassing the respective Zacks Consensus Estimate. The company generated higher revenues year over year, driven by solid licensing momentum in consumer electronics. 
The company inked several license agreements during the quarter, including a landmark deal with Samsung Electronics (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ssnlf#OTC">SSNLF</a>).&nbsp;IDCC is also advancing its leadership position in AI applications for wireless and video technology.
<h3>Net Income</h3>
Quarterly net income was $81.7 million or $2.88 per share, down from $105.3 million or $3.58 per share in the year-earlier quarter. Despite top-line growth, higher operating expenses led to lower net income. 
Non-GAAP net income was $94.5 million or $3.58 per share, down from $123.6 million or $4.21 per share in the year-ago quarter. The bottom line beat the Zacks Consensus Estimate by 21 cents.
<div class="chart_embed">
<h3>InterDigital, Inc. Price, Consensus and EPS Surprise <a href="https://www.zacks.com/stock/chart/IDCC/price-consensus-eps-surprise-chart?icid=chart-IDCC-price-consensus-eps-surprise-chart"> <img alt="InterDigital, Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/78/1714729398.png" style="height:265px; width:584px" title="" /> </a></h3>
InterDigital, Inc. price-consensus-eps-surprise-chart | InterDigital, Inc. Quote
</div>
<h3>Revenues</h3>
Net sales in the quarter rose to $263.5 million from $202.4 million in the year-ago quarter. The 30% year-over-year improvement was induced by solid net sales growth in CE, IoT/Auto licensing programs during the quarter. The top line beat the consensus estimate of $216 million. 
In the first quarter, total recurring revenues were $96.9 million, down from $101.6 million in the year-ago quarter. Net sales marginally missed our estimate of $97.5 million. Smartphone revenues decreased 57% year over year to $80.3 million. Net sales from CE, loT/Auto increased to $182.5 million from $16.1 million in the year-ago quarter. 
Total catch-up revenues improved to $166.7 million from $100.8 million. Net sales beat our estimate of $152.6 million.
<h3>Other Details</h3>
Adjusted EBITDA decreased 16% year over year to $130.4 million. Total operating expenses rose to $159.8 million from $83.1 million in the year-ago quarter. The increase in operating costs is primarily attributed to higher licensing-related expenses. Operating income fell to $103.7 million from $119.3 million in the year-earlier quarter.
<h3>Cash Flow &amp; Liquidity</h3>
In the first quarter, InterDigital generated $50.8 million of cash from operating activities against a cash utilization of $27.9 million in the year-earlier quarter. As of Mar 31, 2024, it had $984.6 million in cash, cash equivalents and short-term investments, with $85 million of long-term debt and other long-term liabilities.
<h3>Outlook</h3>
For the second quarter of 2024, InterDigital estimates revenues to be between $93 million and $97 million. Adjusted EBITDA is expected in the band of $35-$38 million. Non-GAAP earnings are expected to be within 70-80 cents per share. 
For 2024, management anticipates revenues in the range of $620-$670 million. Adjusted EBITDA is forecasted at about $310-$345 million. Non-GAAP earnings per share are expected between $7.45 and $8.76 per share.
<h3>Zacks Rank &amp; Stocks to Consider</h3>
InterDigital currently has a Zacks Rank #3 (Hold). 
Pinterest (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pins#NYSE">PINS</a>), carrying a Zacks Rank #2 (Buy) at present, delivered a trailing four-quarter average earnings surprise of 38.78%. In the last reported quarter, it delivered an earnings surprise of 42.86%. 
Pinterest is increasingly establishing a unique value proposition to advertisers that could provide a competitive advantage in the long haul. Through various innovations, it continues to dramatically improve the advertising platform, which appears to be one of the best ad platforms for consumer discretionary brands looking for ways to reach customers and stretch smaller ad budgets. 
Arista Networks, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/anet#NYSE">ANET</a>), carrying a Zacks Rank #2 at present, is likely to benefit from strong momentum and diversification across its top verticals and product lines. The company has a software-driven, data-centric approach to help customers build their cloud architecture and enhance their cloud experience. Arista has a long-term earnings growth expectation of 17.5% and delivered an earnings surprise of 13.3%, on average, in the trailing four quarters. 
It holds a leadership position in 100-gigabit Ethernet switching share in port for the high-speed datacenter segment. Arista is increasingly gaining market traction in 200 and 400-gig high-performance switching products and remains well-positioned for healthy growth in data-driven cloud networking business with proactive platforms and predictive operations. 
Qualcomm Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qcom#NASDAQ">QCOM</a>), carrying a Zacks Rank #2 at present, delivered a trailing four-quarter average earnings surprise of 7.54%. In the last reported quarter, it delivered an earnings surprise of 6.09%. 
Qualcomm Incorporated designs, manufactures and markets digital wireless telecom products and services based on the Code Division Multiple Access technology. The products include CDMA-based integrated circuits and system software for wireless voice and data communications, as well as global positioning system products.
<a href="https://www.zacks.com/stock/news/2268021/interdigital-idcc-q1-earnings-beat-on-higher-revenues?cid=CS-BENZ-FT-analyst_blog|earnings_article-2268021">To read this article on Zacks.com click here.</a>

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InterDigital Q1 Earnings Beat on Higher Revenues

Dutch financial crime investigators arrested a 26-year-old man on Monday for charges of fraud, embezzlement, and money laundering related to an alleged rug pull scheme behind the Web3 gambling network ZKasino. Investigators searched the suspect&#39;s home and seized physical and digital records, and various assets worth 11.4 million euros ($12.2 million) that include real estate and cryptocurrencies, the Fiscal Information and Investigation Service of the Netherlands (FIOD) said in a statement today.
Read the <a href="https://www.theblock.co/post/292375/dutch-authorities-arrest-zkasino?utm_source=benzinga&amp;utm_medium=rss&amp;utm_campaign=Dutch+authorities+arrest+ZKasino+team+member+amid+rug+pull+allegations">full story</a> at The Block.

Legal

Dutch Authorities Arrest ZKasino Team Member Amid Rug Pull Allegations

Logos, a decentralized and privacy-focused technology stack, inscribed its manifesto document on what is the largest-ever Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) block mined on record. The inscription was 3.99 MB in size and precedes the launch of an Ordinals collection.
Read the <a href="https://www.theblock.co/post/292403/logos-manifesto-inscription-bitcoin?utm_source=benzinga&amp;utm_medium=rss&amp;utm_campaign=Logos+inscribes+its+manifesto+on+largest-ever+Bitcoin+block">full story</a> at The Block.

$BTC

Logos Inscribes its Manifesto on Largest-Ever Bitcoin Block

AMC Networks (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amcx#NASDAQ">AMCX</a>) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook gives a good sense of the company&#39;s earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The earnings report, which is expected to be released on May 10, 2024, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management&#39;s discussion of business conditions on the earnings call, it&#39;s worth handicapping the probability of a positive EPS surprise.
Zacks Consensus Estimate
This owner of cable channels including AMC and IFC is expected to post quarterly earnings of $1.79 per share in its upcoming report, which represents a year-over-year change of -31.7%.
Revenues are expected to be $603.82 million, down 15.8% from the year-ago quarter.
Estimate Revisions Trend
The consensus EPS estimate for the quarter has been revised 2.66% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Earnings Whisper
Estimate revisions ahead of a company&#39;s earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model&#39;s predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for AMC Networks?
For AMC Networks, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company&#39;s earnings prospects. This has resulted in an Earnings ESP of +14.29%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination indicates that AMC Networks will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?
While calculating estimates for a company&#39;s future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it&#39;s worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that AMC Networks would post earnings of $0.64 per share when it actually produced earnings of $0.72, delivering a surprise of +12.50%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom Line
An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it&#39;s worth checking a company&#39;s Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they&#39;ve reported.
AMC Networks appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
An Industry Player&#39;s Expected Results
Among the stocks in the Zacks Broadcast Radio and Television industry, Warner Bros. Discovery (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wbd#NASDAQ">WBD</a>)&nbsp;is soon expected to post loss of $0.24 per share for the quarter ended March 2024. This estimate indicates a year-over-year change of -233.3%. This quarter&#39;s revenue is expected to be $10.29 billion, down 3.8% from the year-ago quarter.
The consensus EPS estimate for Warner Bros. Discovery has remained unchanged over the last 30 days. However, a higher Most Accurate Estimate has resulted in an Earnings ESP of 21.61%.
When combined with a Zacks Rank of #3 (Hold), this Earnings ESP indicates that Warner Bros. Discovery will most likely beat the consensus EPS estimate. The company could not beat consensus EPS estimates in any of the last four quarters.
<a href="https://www.zacks.com/stock/news/2268008/amc-networks-amcx-expected-to-beat-earnings-estimates-what-to-know-ahead-of-q1-release?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_9-2268008">To read this article on Zacks.com click here.</a>

Entertainment

Small Cap

AMCX

AMC Networks Expected to Beat Earnings Estimates: What to Know Ahead of Q1 Release

Source: <a href="https://www.streetwisereports.com/article/2024/05/02/expert-says-gold-stocks-strong-upside-momentum-will-continue.html?utm_medium=feed">Clive Maund 05/02/2024</a>
Technical Analyst Clive Maund takes a look at Perpetua Resources Corp. to explain why he believes the stock is a Buy.
Perpetua Resources Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ppta#NASDAQ">PPTA</a>) is a momentum play, and the reason why we are looking at it now is that it looks like the current strong upside momentum will continue for a while yet and if so, it will result in substantial gains over the short to medium-term and these gains will likely occur over the short-term for reasons that quickly become apparent when we look at its 6-month chart.
The story with this stock and the reason for its recent strong gains is that Perpetua Resources has received indication for up to US$1.8 billion financing from the export-import bank of the United States for Stibnite Gold Project, and a big reason for this appears to be that the mine, once constructed, will also produce large quantities of antimony that is used in munitions which currently is not produced at all in the U.S.
This funding is subject to certain conditions being met, but by the look of it, they will be. On the 6-month chart, we can see that upon this news being released, the price shot up on the 8th of this month, but after further gains, the next day resulted in it becoming extremely overbought short-term, it settled down to mark out what looks like a bull Pennant that once completed calls for a move of similar magnitude to the one leading into it. The way volume has died back steadily as this Pennant has formed indicates that it is genuine and not a top.
We can, therefore, expect another sharp towards the resistance level in the US$9 area that would result in a swift near 50% gain, and that could happen in short order given that this Pennant is now fast closing up.
<img alt="" class="No_img_class" src="https://www.theaureport.com/images/auto_up/202451112559_1.jpg" style="height:857px; width:668px" />
The 5-year chart shows us the origins of the resistance that caused the advance to halt temporarily early this month and also the origins of the resistance in the US$9 area, which is our next target.
<img alt="" class="No_img_class" src="https://www.theaureport.com/images/auto_up/202451112620_2.jpg" style="height:857px; width:676px" />
The long-term 16-year chart is interesting as it shows us that all of the action from 2013 may be regarded as marking out a giant base pattern, and if this is the case, it is not unreasonable to suppose, given the enormous upside potential of gold in the next several years, that once it succeeds in breaking above the resistance in the US$9 - US$10 area it could drive rapidly higher to equal or even exceed its 2012 highs in the US$37.50 area.
<img alt="" class="No_img_class" src="https://www.theaureport.com/images/auto_up/202451112644_3.jpg" style="height:857px; width:666px" />
Perpetua Resources is therefore rated a Buy for all timeframes that will appeal to quick-fire speculators who want to make a big gain fast, and a stop may be placed beneath the lower boundary of the Pennant, say at US$5.45, to limit loss in the (unlikely) event that it breaks down from it.
This would probably only happen in the event that EXIM says to the company, &quot;You know that money we said we were going to front you to build that mine? Well, you&#39;re not getting it.&quot;
This seems highly unlikely.
Perpetua Resources Corp.&nbsp;closed at US$5.46, CA$7.54 on Aril 30, 2024
Important Disclosures:
<ol>
<li>Perpetua Resources Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.</li>
<li>Clive Maund: I determined which companies would be included in this article based on my research and understanding of the sector.</li>
<li>Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.</li>
<li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports&#39; terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.</li>
</ol>
Clivemaund.com Disclosures
The above represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund&#39;s opinions are his own, and are not a recommendation or an offer to buy or sell securities. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund&#39;s opinions on the market and stocks cannot be only be construed as a recommendation or solicitation to buy and sell securities.

Commodities

PPTA

Expert Says Gold Stocks Strong Upside Momentum Will Continue

Robyn Denholm, the chair of Tesla Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>)&#39;s board of directors, pleaded with shareholders on Friday to reapprove CEO Elon Musk&#39;s $47 billion pay package, <a href="https://www.benzinga.com/news/24/02/36925273/elon-musk-fostered-culture-of-drug-use-among-senior-leaders-at-tesla-and-spacex-report-says">which a Delaware judge had previously overturned.</a>
What Happened: Denholm made a video appeal to shareholders, stressing the vote&#39;s significance for Tesla&#39;s future. She contended that the ruling of a single judge should not supersede the collective will of Tesla&#39;s millions of owners.
Musk&#39;s pay package, valued initially at around $56 billion, has shrunk to $47 billion due to a decline in Tesla&#39;s share price. The package was scrapped following a shareholder lawsuit alleging the payout was excessive.
<blockquote class="twitter-tweet">Tesla Board Of Directors Chair Robyn Denholm has released a new video talking about the upcoming 2024 shareholder vote in June. &ldquo;We are asking your voices to be heard and to vote for these proposals.&rdquo; <a href="https://t.co/AmfRYo28ah">pic.twitter.com/AmfRYo28ah</a>
&mdash; Sawyer Merritt (@SawyerMerritt) <a href="https://twitter.com/SawyerMerritt/status/1786405686143824355?ref_src=twsrc%5Etfw">May 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>Denholm defended Musk&#39;s compensation in the video, asserting it was justly given as an incentive for Musk to reach &quot;ambitious financial and operational targets.&quot; Under Musk&#39;s stewardship, Tesla&#39;s revenues have soared from $11.8 billion to $96.8 billion, turning a $2.2 billion loss into a $15 billion profit.
In the video, Denholm said it would also&nbsp;be &quot;incredibly important for the future of the company.&quot;
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/04/38479082/elon-musk-gives-one-word-response-to-joe-bidens-dig-at-donald-trump-at-white-house-correspondents-di">Elon Musk Gives One-Word Response To Joe Biden&#39;s Dig At Donald Trump At White House Correspondents&#39; Dinner</a>
Denholm additionally&nbsp;underscored that Musk&#39;s success has benefited all shareholders, as their shares&#39; value has surged by 1,100%. Tesla&#39;s value has increased from $53.7 billion to over $790 billion.
A shareholder vote on Musk&#39;s compensation package is scheduled at the annual 2024 shareholder meeting on June 13.
Why It Matters: This development comes in the wake of a series of disclosures by Tesla, revealing a complex network of transactions totaling $9.1 million among Musk&#39;s various enterprises, including SpaceX, X&nbsp;<a href="http://www.benzinga.com/news/24/04/38348400/several-companies-under-elon-musk-billed-each-other-approximately-9-million-in-expenses-raising-seri">and The Boring Company</a>. This has raised serious questions about corporate governance.
Furthermore, <a href="http://www.benzinga.com/news/24/04/38477052/elon-musk-overtakes-zuckerberg-as-worlds-third-richest-amid-stock-market-shake-up">Musk&#39;s net worth&nbsp;recently climbed to $185 billion</a>, making him the world&#39;s third-richest billionaire, per the Bloomberg Billionaires Index. This was largely due to a resurgence in Tesla&#39;s stock value.
These events provide a backdrop to the ongoing debate over Musk&#39;s pay package, highlighting the financial dynamics at play within Musk&#39;s business empire and his wealth.
Now Read:&nbsp;<a href="https://www.benzinga.com/top-stories/22/08/28661279/elon-musks-mother-maye-says-she-sleeps-in-a-garage-when-she-visits-him-1">Elon Musk&#39;s Mom Says She Sleeps In His &#39;Garage&#39; When She Visits The Tesla CEO</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" style="box-sizing:inherit; color:rgba(var(--sk_highlight,18,100,163),1); text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Tesla's Board Chair Pleads For Reapproval Of Elon Musk's Controversial $47 Billion Compensation: 'Incredibly Important For The Future Of The Company'

&#8220;I can't think of anyone else who is a greater source of meta than Donald Trump.&#8221;
Steven Steele, chief marketing officer of MAGA Memecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>), the Trump-themed cryptocurrency that has been making waves for being the former president&#8217;s <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38554649/how-bad-is-donald-trumps-crypto-portfolio-down-with-bitcoin-below-58k">biggest portfolio holding</a>, thinks it is &#8220;increasingly likely&#8221; the 45th president becomes the 47th president of the United States.
In that case, we could be provided with &#8220;four more years of hilarity and catalysts,&#8221; Steele told Benzinga in an interview. 
<a href="https://www.benzinga.com/general/politics/24/05/38598789/trump-vs-biden-2024-election-frontrunners-tied-in-new-poll-which-candidate-gains-in-popularity-a">Polls</a> have the former and the current presidents neck-and-neck, as have <a href="https://polymarket.com/event/presidential-election-winner-2024?tid=1714818859506">prediction markets</a>, which gave Trump a two-point edge over Joe Biden, as of May 4. 
Whether he secures a successful re-election bid or not, interest in Donald Trump will likely intensify between now and Nov. 5.
And with it, the appeal of investing in TRUMP, Steele said. He told Benzinga he cannot think of any person that will be covered more than Trump going into the election season &#8220;and probably beyond.&#8221;
<h2 class="wp-block-heading">How MAGA Memecoin Turned &#8216;The Most Covered Person&#8217; Into A Cryptocurrency</h2>
Andrew Kang, a crypto venture capitalist, <a href="https://twitter.com/Rewkang/status/1754644977777258637">sees</a> Trump as &#8220;one of the best attention monopolizers in the world.&#8221;
His fund Mechanism Capital announced on Feb. 6 that it had accumulated TRUMP — the first meme coin than can &#8220;rival Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>).&#8221;
Indeed, among meme coins, MAGA Memecoin is somewhat of a pioneer. It was the first to successfully introduce a meme coin based on a real-world person or cultural phenomenon. Speculating on the attention created by certain events, such as <a href="https://www.benzinga.com/markets/cryptocurrency/23/11/36037143/after-munger-coins-crash-kissinger-tokens-flood-crypto-space-following-his-death-at-100">the death</a> of former Secretary of State Henry Kissinger, has since become a staple of the meme coin circus.
Steele, who initially was just an investor in TRUMP, said the &#8220;enormous potential&#8221; made him join as chief marketing officer. Following its inception in August 2023, TRUMP grew to a preliminary peak of $448 million in market capitalization on March 5 and is currently trading around a valuation of $220 million.
Steele attributes this rise in value to several key points:
Consistent marketing: MAGA Memecoin holds weekly spaces for its community and publishes Trump-themed memes on its X <a href="https://twitter.com/MAGAMemecoin">account</a>.
Philanthropic action: The project has donated over $1 million in Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) for 37 straight weeks to support for homeless veterans and the prevention of child trafficking. Steele pointed out this was one of key points that drew him in, with the National Veterans Homeless Support being able to scale its operation thanks to the donations.
Partnerships: MAGA Memecoin recently <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38299089/trump-related-maga-memecoin-onboards-roger-stone-as-partner">announced</a> it had onboarded controversial political figure and self-proclaimed &#8220;agent provocateur&#8221; Roger Stone as a partner. 
But the inevitable consequence of success is competition, a rule that applies even — or particularly — to meme coins.
Read Also: <a href="http://Bitcoin, Ethereum, Dogecoin Rally, As Market Sentiment Soars On Macro Data: 'Above $67,000 We Fly Like A Bird,' Claims Trader">Bitcoin, Ethereum, Dogecoin Rally, As Market Sentiment Soars On Macro Data: &#8216;Above $67,000 We Fly Like A Bird,&#8217; Claims Trader</a>
<h2 class="wp-block-heading">&#8216;To Get Unprecedented Results, You Have To Do Unprecedented Things&#8217;</h2>
In a March <a href="https://www.coindesk.com/markets/2024/03/02/trump-maga-meme-coins-are-the-first-experiment-in-polifi/">interview</a> with Coindesk, Steele said he wants TRUMP &#8220;up there with a DOGE or SHIB, that kind of scale and market cap and popularity.&#8221; 
Asked how to make that a reality, Steele told Benzinga, &#8220;To get unprecedented results, you have to do unprecedented things.&#8221; 
Signing Stone is one example of that, Steele pointed out, as it brought MAGA Memecoin a lot of &#8220;normie&#8221; investors that bought TRUMP as their first cryptocurrency. 
But since Steele&#8217;s March interview, the political meme coin landscape has changed. TRUMP isn&#8217;t the only politicial meme coin anymore. 
In fact, it currently isn&#8217;t even the biggest one. BODEN (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BODEN</a>) a <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38077441/jeo-boden-meme-coin-clocks-new-all-time-high-on-56-daily-surge-1b-market-cap-is-absolute-f">meme coin parodying Biden</a> with intentionally poor spelling and cartoons, has recorded an astronomic surge to over $700 million in market capitalization and is currently trading at a valuation of around $290 million. The emergence of a quasi-rival has even sparked a <a href="https://polymarket.com/event/trump-vs-boden-first-to-1b?tid=1714822446721">prediction market</a> about which meme coin would get to $1 billion first (BODEN is leading TRUMP 54% to 46%).
Steele told Benzinga he is aware of the coin —&nbsp;and others that have boarded the &#8220;PoliFi&#8221; meta —&nbsp;but isn&#8217;t worried by or interested in them.
Indeed, a de facto rivalry between the two meme coins, similar to that between Dogecoin and Shiba Inu, could be positive and create more interest and loyalty among holders.
But what does the man whose face is on the memes powering MAGA Memecoin think of all of this?
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38611669/dogecoin-is-primed-for-higher-but-pepe-is-on-a-moon-mission-exclaims-trader">Dogecoin Is &#8216;Primed For Higher&#8217; But Pepe Is &#8216;On A Moon Mission,&#8217; Exclaims Trader</a>
<h2 class="wp-block-heading">&#8216;More Than Enough Reasons To Believe&#8217; Trump Knows Of TRUMP</h2>
Donald Trump&#8217;s stance on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and crypto has shifted from considering them a &#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/21/09/22753280/former-us-president-donald-trump-crypto-is-a-disaster-waiting-to-happen?utm_campaign=partner_feed&amp;utm_source=yahooFinance&amp;utm_medium=partner_feed&amp;utm_content=site">disaster waiting to happen</a>&#8221; and being &#8220;not a big fan&#8221; in 2021 to now expressing enjoyment with crypto and the &#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38048368/donald-trump-says-hes-making-money-from-crazy-new-currencies-which-cryptos-does-he-hold">crazy new currencies</a>&#8221; apart from Bitcoin.
Steele thinks there are &#8220;more than enough reasons to believe&#8221; the former president is aware of the meme coin his personality started, especially considering Stone was a consultant for Trump&#8217;s 2016 campaign. He suggested that Trump may have been referring to MAGA Memecoin in his mention of &#8220;crazy new currencies.&#8221;
Steele also shared that Trump is aware and a fan of Shawn Farash, the host of the project&#8217;s weekly spaces and a proficient Trump impersonator.
<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">TRUMP&#39;S UNCENSORED THOUGHTS ON THE BRAGG TRIAL!<a href="https://twitter.com/hashtag/Trump?src=hash&amp;ref_src=twsrc%5Etfw">#Trump</a> <a href="https://twitter.com/hashtag/MAGA?src=hash&amp;ref_src=twsrc%5Etfw">#MAGA</a> <a href="https://twitter.com/hashtag/GagOrder?src=hash&amp;ref_src=twsrc%5Etfw">#GagOrder</a> <a href="https://t.co/FLUArTXSic">pic.twitter.com/FLUArTXSic</a>
&mdash; Shawn Farash &#x274c;&#x1f43b; (@Shawn_Farash) <a href="https://twitter.com/Shawn_Farash/status/1783881021223501955?ref_src=twsrc%5Etfw">April 26, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Trump&#8217;s allocation of TRUMP was an intentional &#8220;strategically savvy and hilarious&#8221; move by the project to promote the coin. And, just as planned, it has since become Trump&#8217;s biggest holding.
But what if Trump sells &#8220;his bag&#8221; of MAGA Memecoin? If the meme coin were to appreciate going into the election season, Trump&#8217;s current holdings of $2.73 million may prompt him to think about cashing out.
Steele acknowledged the possibility but does not see it as a problem. Similar to the 2021 incident when Ethereum co-founder Vitalik Buterin <a href="https://www.benzinga.com/markets/cryptocurrency/21/05/21144678/ethereum-co-founder-vitalik-buterin-burns-410-trillion-shiba-inu-tokens-is-the-dogecoin-cl">sold and donated</a> his allocation of SHIB, Steele thinks it may even have a positive impact on MAGA Memecoin.
Whether TRUMP can really become, as Andrew Kang <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/36945628/first-memecoin-ive-seen-that-can-rival-dogeshib-crypto-fund-buys-trump-token">said</a>, the first meme coin to break the reign of dog-themed incumbents remains to be seen. Meme coins like Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>) and dogwifhat (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WIF</a>) — yet another dog coin — hold a substantial lead over political meme coins. 
But when considering the combination of the &#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38479551/is-the-memecoin-supercycle-over-mad-crypto-alpha-with-ivan">memecoin supercycle</a>&#8221; with the &#8220;<a href="https://www.benzinga.com/news/24/02/36925192/biden-says-2024-race-is-weirdest-campaign-ive-ever-engaged-in-as-trump-oddly-compares-his-looks-to-e">weirdest campaign</a>&#8221; the incumbent president has ever been in, who knows what may happen between now and November?
Read Next: <a href="https://www.benzinga.com/news/24/05/38603980/trump-says-london-paris-no-longer-recognizable-we-cant-let-that-happen-here">Trump Says London, Paris No Longer Recognizable: &#8216;We Can&#8217;t Let That Happen Here&#8217;</a>
Image created using artificial intelligence with Midjourney

$BODEN

$ETH

$PEPE

$SHIB

$TRUMP

$WIF

EXCLUSIVE: Trump-Themed MAGA Memecoin Plans To Rival Dogecoin And Shiba Inu With 'Four More Years Of Catalysts'

Donald Trump&#8217;s <a href="https://www.benzinga.com/news/24/05/38584504/trump-could-face-more-gag-orders-in-hush-money-trial-report">New York hush-money case</a> and the U.S. Supreme Court&#8217;s hearing on his presidential immunity have been front and center in recent days, even as the former president is in a close race with President Joe Biden to occupy the White House for a second term. Mary Trump, a clinical psychologist and the niece of the former president weighed in on the case, in an interview on Thursday.
What Happened: Donald Trump&#8217;s two faces were evident amid the trial proceedings last week, <a href="https://www.youtube.com/watch?v=3RI4mr-wIKw">said </a>Mary Trump in an MSNBC interview. 
&#8220;Last week we heard a lot about the split-screen Donald Trump, criminal defendant in a New York City criminal courtroom and then the Supreme Court hearing arguments about whether or not Donald should be immune from any kind of prosecution because apparently members of the Supreme Court think he is a monarch or something,&#8221; she said.
The more crucial concern people should be vigilant about is the split screen of him being the presidential candidate and an &#8220;anti-American authoritarian wannabe,&#8221; she added.
&#8220;The problem is we are seeing these as being treated as two entirely different people,&#8221; Mary Trump said, adding that &#8220;it&#8217;s a the fact that he is a criminal defendant, the fact that he has committed allegedly crimes against the United States of America, have no impact whatsoever on his relevance or his standing as a candidate for the presidency.&#8221;
This is because &#8220;there&#8217;s always a way out for him. There&#8217;s always somebody willing to bail him out even if it looks like there&#8217;s no escape,&#8221; she said. This was seen last week, she added. 
The psychologist, podcaster and author also said she has one particular concern. 
&#8220;As deep the trouble is that he is in, it may not be enough,&#8221; she said.
Mary Trump said her uncle&#8217;s personality is such that he is incredibly good at &#8220;pushing the envelope and pulling back in those rare instances in which he gets pushed back.&#8221; 
&#8220;When he pushes the envelope, he breaks norms, he defies expectations and he gets away with it. Being who he is, he pushes the envelope some more to see what else he can get away with,&#8221; she said.
It is in those instances Donald Trump normalizes outrageous and egregious behavior, she added.
See Also:<a href="https://www.benzinga.com/news/24/05/38585021/biden-vs-trump-battle-sees-one-candidate-maintaining-slender-lead-while-other-made-inroads-with-this"> Biden Vs. Trump Battle Sees One Candidate Maintaining Slender Lead While Other Made Inroads With This Key Voter Category</a>
Mary Trump also said it is the duty of the press to step up. She emphasized that her uncle explicitly stated his intentions to become an authoritarian, strip away women&#8217;s rights, and say whatever he needs to regain power.
&#8220;Once that happens, he will not be stopped,&#8221; she said. 
Mary Trump advised that for those running against Donald Trump, he should be consistently ridiculed. She observed this approach in the courtroom, noting his difficulty in handling the circumstances and his lack of power in that environment.
Mary Trump also asserted that her uncle was selfish and unconcerned about the other individuals trapped in the courtroom with him due to his actions.
More Setbacks: Mary Trump noted that, for the nine instances of gag order violations in the first week of the hush-money trial, Donald Trump was fined $9,000 and warned of imprisonment for any further violations. Prosecutors have submitted four more violations since then, she added.
Mary Trump mentioned that Acting Supreme Court Justice Juan Merchan might not yet jail the former president for these four violations, as they occurred before Donald Trump was held in contempt. However, she did not rule out the possibility of incarceration if another violation occurs.
She also highlighted rumors about Donald Trump&#8217;s legal team representing his presidential campaign for a 2016 incident wanting to drop him as a client.
&#8220;The law firm, LaRocca, Hornik, Greenberg, Kittredge, Carlin &amp; McPartland, cited an &#8216;irreparable breakdown in the attorney-client relationship&#8217; as the reason for their request to withdraw,&#8221; Mary Trump said.
Last week, Los Angeles attorney <a href="https://www.benzinga.com/news/24/05/38604557/trumps-hush-money-trial-lawyer-who-represented-stormy-daniels-reveals-payment-details-reads-out-fund">Keith Davidson took the stand again</a> to discuss the deal he had brokered between the plaintiff Stormy Daniels and Donald Trump&#8217;s ex-attorney Michael Cohen to keep Donald Trump's affair with Daniels a secret from voters, she further noted.
Read Next: <a href="https://www.benzinga.com/money/best-real-estate-stocks-right-now">Best Real Estate Stocks Right Now</a>
Photo: Shutterstock

Trump's Niece Says Ex-President Has Made It Clear He Wants To Be Authoritarian Upon Returning To Office: 'Once That Happens, He Will Not Be Stopped'

Tuesday's news that the <a href="https://www.benzinga.com/markets/cannabis/24/04/38530190/breaking-dea-reportedly-moves-to-reschedule-cannabis-stocks-rise-sharply-on-the-news">DEA will move to reclassify marijuana</a> as a less dangerous drug after five decades of being in the same classification as heroin, meth and LSD has roiled some Republican opponents. One in particular, Tennessee&#8217;s Bill Hagerty, sees the move as opening the door to social decay, or worse.
Hagerty accused the Democrats of pursuing policies that are pro-criminal and anti-American, warning that such measures would only serve to exacerbate crime rates on American streets.
Lambasting the Democrats' efforts to undertake marijuana policy reform, Hagerty singled out Senate Majority Leader Chuck Schumer.
"What the Joe Biden administration — what Leader Schumer — is trying to do is basically stimulate more crime on American streets," Hagerty said. "Here we have Chuck Schumer basically lowering the barriers for gateway drugs like marijuana, and it's going to damage society, and this is exactly what Democrats have been pushing. This is not good for America."
In a hallway interview on Thursday, Fox News reporter Tyler Olson asked Hagerty about the <a href="https://www.benzinga.com/topic/secure-and-fair-enforcement-safe-banking-act">Secure and Fair Enforcement Regulation (SAFER) Banking Act</a>, which is designed to shield financial institutions that deal with state-licensed marijuana businesses. Hagerty, a member of the Senate Banking and Foreign Relations Committees, dismissed banking reform as enabling a conducive environment for more drug usage in America, saying the U.S. needs to curb rather than encourage drug consumption.
Hagerty then went back to criticizing the Democrats&#8217; motives behind the push for cannabis legalization, which he branded as completely political and geared towards garnering support from a niche demographic ahead of the <a href="https://www.benzinga.com/topic/2024-election">November 2024 elections</a>, rather than addressing broader concerns facing the country.
"If you look at American sentiment, everyone says that America is moving in the wrong direction. But what they're [the Democrats] trying to do is pick off minor issues like this, encouraging drug abuse, frankly. It's obscene that this would be happening," he said.
Hagerty then took another shot at Schumer. "But this is Chuck Schumer's perspective on basically putting another sliver of the Biden fragmented population together to vote for him. It's a shame. Democrats are willing to do anything to maintain power here in Washington."
Despite the increasing trend of states — even traditionally conservative ones like <a href="https://www.benzinga.com/topic/montana-cannabis">Montana</a> — moving towards marijuana legalization, Hagerty has remained steadfast in his opposition. He adamantly rejected the notion of establishing any regulatory framework that would facilitate what he viewed as a harmful culture of drug abuse.
Don Murphy, legalization advocate and co-founder of the American Cannabis Collective&nbsp;(ACC) posted the interview on X.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This is Exhibit A why I thought the <a href="https://twitter.com/DEAHQ?ref_src=twsrc%5Etfw">@DEAHQ</a> should announce <a href="https://twitter.com/hashtag/Schedule3?src=hash&amp;ref_src=twsrc%5Etfw">#Schedule3</a> (fwiw, S3 was leaked not announced) on a Friday prior to a recess. Unless they wanted the GOP to embarrass themselves…<a href="https://twitter.com/hashtag/SAFEBanking?src=hash&amp;ref_src=twsrc%5Etfw">#SAFEBanking</a> Thanks to <a href="https://twitter.com/TylerOlson1791?ref_src=twsrc%5Etfw">@TylerOlson1791</a> at <a href="https://twitter.com/FoxNews?ref_src=twsrc%5Etfw">@FoxNews</a> for the questions. <a href="https://twitter.com/AmericanCCo?ref_src=twsrc%5Etfw">@AmericanCCo</a> (Also… <a href="https://t.co/9JQj8LaQFm">pic.twitter.com/9JQj8LaQFm</a>
&mdash; Don Murphy (@donmurphy12a) <a href="https://twitter.com/donmurphy12a/status/1786055582102811042?ref_src=twsrc%5Etfw">May 2, 2024</a></blockquote>
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Come join us at the 19th Benzinga Cannabis Capital Conference in Chicago on Oct. 8 and 9 where we&#8217;ll certainly be discussing these critical issues. It is an essential gathering for innovators eager to lead in the cannabis industry's evolution.&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">Get your tickets now</a>&nbsp;before prices surge by following&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">this link</a>.
Photo: Courtesy of&nbsp;<a href="https://www.pexels.com/@alesiakozik/" rel="noreferrer noopener" target="_blank">Alesia Kozik&nbsp;</a>on Pexels

Cannabis

Government

Regulations

GOP Senator Bashes Dems' Push For Marijuana Legalization As Pro-Criminal & Anti-American: 'It's Obscene'

Billionaire investor and investment guru Warren Buffett is admired by novices and experts alike <a href="https://www.benzinga.com/personal-finance/24/05/38616231/warren-buffett-shares-a-secret-weapon-for-success-weve-done-better-by-avoiding-dragons-than-by-s">for his sound financial advice.</a> On Saturday, he shared some pearls of wisdom via a message he released through a letter.
Skimping Costs: Starting off his <a href="https://www.berkshirehathaway.com/message.html">message</a> with a warning that he doesn&#8217;t make stock recommendations, Buffett said consumers can rely on the services of two of Berkshire Hathaway, Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) subsidiary companies GEICO and Borsheim&#8217;s.
&#8220;I have two thoughts regarding your personal expenditures that can save you real money,&#8221; he said.
About 40% of the auto drivers in the U.S. can save money by insuring with GEICO, Buffett said. The figure is not 100% because insurers differ in their underwriting judgments, with &#8220;some favoring drivers who live in certain geographical areas and work in certain occupations more than GEICO does,&#8221; he said.
The billionaire added that GEICO mostly offers &#8220;the low price than does any other national carrier selling insurance to all comers.&#8221; 
Buffett additionally recommended luxury jeweler Borsheims. 
&#8220;Fine jewelry, watches and giftware will almost certainly cost you less at [Borsheims],&#8221; he said. 
&#8220;Our one-store operation, with its huge volume, enables us to operate with costs that are fully 15-20 percentage points below those incurred by our competitors. We pass the benefits of this low-cost structure along to our customers,&#8221; Buffett said.
See Also: <a href="https://www.benzinga.com/money/best-retail-stocks">Best Retail Stocks Right Now</a>
Why It&#8217;s Important: Buffett&#8217;s recommendation, though self-promotional, may come in handy for cash-strapped consumers, who are <a href="https://www.benzinga.com/markets/equities/24/04/38228298/market-turmoil-resumes-as-inflation-rises-more-than-expected-oil-prices-spike-gold-at-record-hig">struggling in an inflationary environment.</a> Consumer price inflation has remained elevated despite the cooling off seen since the June 2022 peak.
Consumers, who fuel two-thirds of the economic activity, are also left to contend with job cuts as companies restructure and right-size in a bid to survive in an inclement economic environment.
So far, spending has held up despite the uncertainties as consumers dip back into their savings and live on credit.
The SPDR S&amp;P Retail ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XRT#NYSE">XRT</a>) rose 1.28% to $73.42 on Friday, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a>
Read Next: <a href="https://www.benzinga.com/markets/equities/24/05/38629833/berkshire-hathaways-q1-operating-earnings-surged-39-heres-why">Berkshire Hathaway&#8217;s Q1 Operating Earnings Surged 39% — Here&#8217;s Why</a>
Photo: flickr

Education

Personal Finance

Wanna Save 'Real Money?' Buffett Has 2 Pieces Of Advice For Cash-Strapped Consumers

Canadian businessman&nbsp;Greg Abel&nbsp;is anticipated to take over the helm of Berkshire Hathaway Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/brk-a#NYSE">BRK-A</a>) from Warren Buffett and appears to have&nbsp;the full backing of at least one board member ahead of the <a href="https://www.benzinga.com/news/24/02/37193641/warren-buffetts-empire-nears-trillion-dollar-club-as-class-a-shares-hit-above-600-000">firm&#39;s annual shareholders meeting on Saturday</a>.
What Happened: According to a <a href="https://www.independent.co.uk/news/world/americas/buffett-berkshire-hathaway-greg-abel-b2539545.html">report</a> by The Independent, Berkshire board member Ron Olson expressed confidence in Abel&#39;s capabilities to succeed Buffett.
Olson lauded Abel&#39;s grasp of the core principles that have steered Buffett and his dedication to managing Berkshire conservatively to ensure the company&#39;s financial stability.
Olson also believes that Abel&#39;s leadership will not deter business owners from selling their firms to Berkshire, as reported by the outlet.
He dismissed worries that the public legal dispute with the Haslam family over the final price of the Pilot truck stop chain last year would affect future transactions.
&ldquo;Greg is not somebody who is going to be as likely to create the kind of following in the press that I think Warren has had,&rdquo; Olson told The Independent. &ldquo;On the other hand. I have every reason to believe that he will run the companies that we have the responsibility for in the same way that Warren ran them.&rdquo;
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/04/38476079/warren-buffetts-real-estate-firm-coughs-up-250m-to-avoid-bigger-payout-over-commissions">Warren Buffett&#39;s Real Estate Firm Coughs Up $250M To Avoid Bigger Payout Over Commissions</a>
Abel, known for maintaining a low profile, will field questions alongside Buffett during the shareholders meeting on Saturday. He has supervised all of Berkshire&#39;s non-insurance businesses for several years.
Despite the significant passing&nbsp;of Buffett&#39;s longtime partner Charlie Munger&nbsp;last fall, Olson said he is confident that Abel and Ajit Jain, who oversees the insurance businesses, will continue Buffett&#39;s and&nbsp;Munger&#39;s&nbsp;legacies.
Why It Matters: In May 2023,<a href="https://www.benzinga.com/news/23/05/32256501/warren-buffett-reaffirms-greg-abel-as-berkshire-hathaway-heir">&nbsp;Buffett confirmed&nbsp;Abel as his successor</a> at Berkshire Hathaway. During the company&#39;s annual shareholder meeting, Buffett stated that he was &quot;100% comfortable&quot; with his decision and suggested that the transition would largely be business as usual.
&quot;Greg understands capital allocation as well as I do. That&#39;s lucky for us,&quot; Buffett said.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/23/08/33936436/here-are-the-eyebrow-raising-moves-warren-buffett-michael-burry-and-bill-ackman-made-recently" target="_blank">Here Are The Eyebrow-Raising Moves Warren Buffett, Michael Burry And Bill Ackman Made Recently</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" style="box-sizing:inherit; color:rgba(var(--sk_highlight,18,100,163),1); text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo:&nbsp;<a href="https://flickr.com/photos/196993421@N03/" id="yui_3_16_0_1_1714830062208_12297" rel="author" title="Go to Alpha Photo's photostream">Alpha Photo</a>&nbsp;via flickr

BRK-A

Berkshire Board Member Expresses Confidence In Warren Buffett's Successor Greg Abel: 'He Will Run The Companies ... In The Same Way That Warren Ran Them'

Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), on Saturday, registered a solid increase in <a href="https://www.businesswire.com/news/home/20240504932623/en/Berkshire-Hathaway-Inc.-First-Quarter-2024-Earnings-Release" target="_blank" rel="noreferrer noopener">first-quarter</a> operating earnings, driven by strength in its insurance businesses, <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">both in underwriting and investment income.</a>
The Omaha-based company's quarterly operating earnings of $11.22 billion rose over 39% <a href="https://www.benzinga.com/calendars/earnings">from $8.065 billion in the year-ago quarter.</a>
At the end of the quarter, the company said approximately 75% of the aggregate fair value was&nbsp;<a target="_blank" href="https://www.berkshirehathaway.com/qtrly/1stqtr24.pdf" rel="noreferrer noopener">concentrated in five companies</a>:
<ul>
<li>American Express Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) – $34.5 billion</li>
<li>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) – $135.4 billion</li>
<li>Bank Of America Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) – $39.2 billion</li>
<li>Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>): – $24.5 billion</li>
<li>Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) – $19.4 billion</li>
</ul>
The company&#8217;s cash and equivalents as of March end stands at $28.891 billion,
Q1 Net Earnings In Detail:&nbsp;In the first quarter of 2024, investment losses totaled approximately $9.7 billion, while gains amounted to around $23.4 billion in the same period of 2023.&nbsp;
These gains and losses were primarily due to changes in unrealized gains in equity security investments.&nbsp;
Additionally, after-tax realized gains from investment sales were $11.2 billion in the quarter under review, compared with $1.7 billion in the year-ago period.&nbsp;
Net earnings attributable to Berkshire shareholders decreased to $12.702 billion from<a href="https://www.benzinga.com/calendars/guidance"> $35.504 billion a year ago.</a>
Segmental Analysis:&nbsp;In the quarter under review, insurance underwriting generated earnings of $2.59 billion versus $911 million&nbsp;year over year.
Earnings from insurance-investment income totaled $2.598 billion compared with $1.969 billion in the year-ago period.
Berkshire Hathaway Energy Company generated first quarter earnings of $717 million, higher than $416 million a year ago.
Other controlled businesses earnings in the first quarter totaled $3.088 billion, which is higher than the $3.065 billion in the first quarter of 2023.
Approximately $2.6 billion was used to purchase shares of Class A and Class B common stock during the first quarter of 2024.
Approximately $2.6 billion was used to purchase shares of Class A and Class B common stock during the first quarter of 2024.&nbsp;
On March 31, there were 1,437,251 Class A equivalent shares outstanding. The insurance float (the net liabilities we assume under insurance contracts) was approximately $168 billion.
Warren Buffett, 93, is one of the best-known fundamental investors in the world. Known as the &#8220;Oracle of Omaha,&#8221; he has a real-time net worth is $131.7 billion. 
Price Action:&nbsp;BRK/B shares closed higher by 0.07% to $400.87 on Friday; shares were up by 0.26% after hours.
Read Next: <a href="https://www.benzinga.com/top-stories/24/05/38596577/warren-buffetts-annual-secret-ber[%E2%80%A6]hathaway-movie-to-be-shown-publicly-for-first-time-could-thi">Warren Buffett&#8217;s Annual Secret Berkshire Hathaway Movie To Be Shown Publicly For First Time: Could This Be The Ultimate Tribute To Charlie Munger?</a>
Photo: Shutterstock

Movers

Berkshire Hathaway's Q1 Operating Earnings Surged 39% — Here's Why

Fans of the Star Wars franchise are likely celebrating today, May 4, unofficially known as "Star Wars Day." The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) typically marks the occasion with new consumer products and content for fans of the franchise it <a href="https://www.benzinga.com/general/entertainment/23/07/33170350/if-you-invested-1-000-in-disney-stock-when-it-acquired-lucasfilm-think-indiana-jones-star-w">acquired in 2012.</a>
History of Star Wars Day: Since its launch in 1977, <a href="https://www.benzinga.com/topic/star-wars">the Star Wars franchise</a> has been one of the highest-grossing and most popular film and television brands. The Lucasfilm franchise, which was founded by George Lucas, was later acquired by Disney.
One of the most famous phrases in the Star Wars franchise is &#8220;may the force be with you,&#8221; which has led to the transformation of May 4 into &#8220;May the fourth be with you.&#8221;
Now an unofficial <a href="https://www.starwars.com/news/may-the-4th-be-with-you-cultural-history">holiday</a>, May 4 is used by Disney and Lucasfilm to promote upcoming content and merchandise.
May is a busy month for Lucasfilm as it also commemorates the anniversaries of several Star Wars movie and series releases. May 25, the date that "A New Hope," "Return of the Jedi" and "Solo" were all released in theaters, is celebrated by some as &#8220;Geek Pride Day.&#8221; May 14 is also Lucas&#8217; birthday.
Related Link: <a href="https://www.benzinga.com/general/gaming/24/04/38169087/ubisoft-accidentally-leaks-star-wars-outlaws-release-date-special-editions-and-more">Ubisoft Accidentally Leaks Star Wars Outlaws Release Date, Special Editions And More</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This May the 4th, we celebrate the best fans in the galaxy.<a href="https://twitter.com/hashtag/Maythe4thBeWithYou?src=hash&amp;ref_src=twsrc%5Etfw">#Maythe4thBeWithYou</a> <a href="https://t.co/SgKW03uFBy">pic.twitter.com/SgKW03uFBy</a>
&mdash; Star Wars (@starwars) <a href="https://twitter.com/starwars/status/1786395397604135025?ref_src=twsrc%5Etfw">May 3, 2024</a></blockquote>
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Star Wars Movies and Shows: Disney is releasing six new episodes of "Tales of the Empire" on Disney+ Saturday, continuing a tradition of new content on May 4.
Star Wars fans can also head to movie theaters for a <a href="https://www.starwars.com/news/skywalker-saga-marathon">re-release</a> of the 1999 film "Star Wars: Episode I – The Phantom Menace," which is celebrating its 25th anniversary. The film is showing in select theaters.
Some theaters are also showing all nine Star Wars movies in the Skywalker saga in theaters today.
"The Acolyte," a new Star Wars show, will come to Disney+ on June 4. Other upcoming television content for Star Wars includes "Skeleton Crew," expected in 2024, a second season of "Andor" in 2025 and an undated second season of "Ahsoka."
Disney, however, has not released a new Star Wars movie on the big screen since the 2019 film &#8220;Star Wars Episode IX – The Rise of Skywalker.&#8221; It&nbsp;<a href="https://www.boxofficemojo.com/franchise/fr3125251845/?ref_=bo_frs_table_2" target="_blank" rel="noreferrer noopener">grossed&nbsp;</a>$515.2 million domestically and $1.07 billion worldwide, ranking fourth in franchise history domestically and third among the sequel films.
In fact, after releasing Star Wars films every two years on average, Disney has not released a theatrical film in over four years.
The <a href="https://www.benzinga.com/general/entertainment/24/01/36583647/baby-yoda-coming-to-big-screen-can-fan-favorite-star-wars-character-help-disneys-box-office">next Star Wars film</a> on the calendar is "The Mandalorian &amp; Grogu," set for a May 22, 2026 release date.
Several untitled movies, including <a href="https://www.benzinga.com/general/entertainment/23/04/31734634/may-the-force-be-with-disneys-star-wars-future-new-movies-tv-shows-and-the-return-of-daisy-">one featuring Daisy Ridley as Rey</a>, are poised to expand the Star Wars universe with more content in the future.
More Star Wars Day News and Deals: Star Wars returned to the popular game "Fortnite"<a href="https://www.benzinga.com/general/gaming/24/04/38257897/star-wars-day-arrives-to-fortnite-with-epic-crossover"> with a crossover event</a> on May 3 that includes new skins, content for "LEGO Fortnite" and more.
Toy company LEGO is one of the biggest promoters of Star Wars products during Star Wars Day. The company has <a href="https://www.lego.com/en-us/page/star-wars-day-deals">deals</a> from May 1 through May 5 and released its TIE Interceptor for the first time.
Retailers including <a href="https://www.target.com/c/20-off-select-star-wars-toys-apparel-and-more/-/N-jkd07?clkid=27c21ee3N710211edbfe1d5352c979019">Target</a>, <a href="https://www.walmart.com/browse/star-wars-may-the-4th/c2hlbGZfaWQ6ODA3MDMwNwieie?">Walmart </a>and <a href="https://www.amazon.com/b?ie=UTF8&amp;node=16914597011">Amazon</a> also have dedicated pages for Star Wars Day deals.
The Disney Store will also have <a href="https://www.disneystore.com/">deals</a> throughout the unofficial holiday.
Additionally, the official Star Wars deal <a href="https://www.starwars.com/news/star-wars-day-deals">page</a> has new items from Funko, Hallmark and others to celebrate the holiday.
The Meta Quest virtual reality headset from Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) also has several Star Wars games and is <a href="https://www.meta.com/experiences/section/688356013277382/">offering </a>a 66% discount on &#8220;Star Wars Pinball VR&#8221; to celebrate the holiday, taking the price down to $8.49. 
For this unofficial holiday, may the fourth be with you as you shop for deals and enjoy Star Wars content.
Read Next: <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>
Image: Shutterstock

May The Fourth Be With You: The History Of The Star Wars Holiday, New Shows And Movies Coming Up, And Top Deals For Fans

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.
Stock markets ended the week on a high note following reassuring comments from Federal Reserve Chair Jerome Powell.
As the market digested recent inflation surprises, Powell signaled a pause in interest rate hikes, aiming to stabilize inflation around the central bank&#8217;s 2% target. This announcement helped the Dow and Nasdaq climb 1.14% and 1.43% respectively, while the S&amp;P 500 saw a modest gain of 0.55% this week.
In labor market news, signs of cooling were evident as April&#8217;s job growth slowed compared to March, and the unemployment rate unexpectedly ticked higher. This mixed economic data supports the Fed&#8217;s decision to hold rates steady as it <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38624536/federal-reserve-dismisses-rate-hike-fears-labor-market-cools-apple-lures-investors-">monitors economic indicators</a>.
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
<a href="https://www.benzinga.com/markets/equities/24/04/38510252/jim-cramer-says-tesla-stock-will-keep-running-until-all-shorts-are-crushed-praises-elon-musks-ch">&#8220;Jim Cramer Says Tesla Stock Will Keep Running Until All Shorts Are Crushed, Praises Elon Musk&#8217;s Charisma,&#8221;</a> by <a href="https://www.benzinga.com/author/shanthi-rexaline">Shanthi Rexaline</a>, covers Jim Cramer&#8217;s opinion that Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) will continue to rise as long as short sellers target it, crediting Elon Musk&#8217;s dynamic leadership for bolstering investor confidence.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38564859/are-dogecoin-and-shiba-inu-due-a-bounce-this-trader-sees-bull-flag-forming-for-one-coin">&#8220;Are Dogecoin And Shiba Inu Due A Bounce? This Trader Sees &#8216;Bull Flag&#8217; Forming For One Coin,&#8221;</a> by <a href="https://www.benzinga.com/author/khyathi-dalal">Khyathi Dalal</a>, discusses chart analyst Ali Martinez&#8217;s prediction of a bullish breakout for Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>), despite a turbulent period for both it and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>).
<a>&#8220;Gene Munster&#8217;s Take On Apple&#8217;s Q2 Beat, June Quarter Guidance: &#8216;Things Get Easier For Apple In The Back Half Of Year,'&#8221;</a> by <a href="https://www.benzinga.com/author/shanthi-rexaline">Shanthi Rexaline</a>, details Apple, Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) promising outlook as per Gene Munster, following Q2 financial success and notable shareholder returns.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/markets/equities/24/05/38601338/carvana-revs-up-over-1-500-in-a-year-inflicts-heavy-losses-on-short-sellers">Carvana Revs Up Over 1,500% In A Year, Inflicts Heavy Losses On Short Sellers</a>
<a href="https://www.benzinga.com/markets/cannabis/24/05/38559933/billions-on-the-move-tracking-market-cap-changes-in-top-cannabis-firms-after-dea-rescheduling-an">Billions On The Move: Tracking Market Cap Changes In Top Cannabis Firms After DEA Rescheduling Announcement</a>
<a href="https://www.benzinga.com/news/24/05/38583155/nvidia-supercharges-ai-chatbot-with-advanced-models-from-google-and-openai">Nvidia Supercharges AI Chatbot with Advanced Models From Google and OpenAI</a>
The Bears
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38494698/amc-entertainment-analyst-cautious-despite-market-share-gains-europe-catalyst-heavy">&#8220;AMC Entertainment Analyst Cautious Despite Market Share Gains, Europe Catalyst: &#8216;Heavy Debt Load, Lack Of Dividends Overshadow These Positive Factors,&#8221;</a> by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, covers Wedbush analyst Alicia Reese&#8217;s cautious stance on AMC Entertainment Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) due to its significant debt and expansion limits despite market share growth.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38616885/bitcoins-clock-is-ticking-why-edward-snowden-issues-final-warning">&#8220;Bitcoin&#8217;s &#8216;Clock Is Ticking&#8217;: Why Edward Snowden Issues &#8216;Final Warning,'&#8221;</a> by <a href="https://www.benzinga.com/author/murtuza-merchant">Murtuza Merchant</a>, highlights Edward Snowden&#8216;s urgent call for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) to implement privacy protections at the protocol level, especially after Wasabi Wallet&#8217;s CoinJoin service discontinuation.
<a href="https://www.benzinga.com/news/24/05/38597557/starbucks-ceos-dilemma-unfolds-with-stock-performance-falling-sales">&#8220;Starbucks CEO&#8217;s Dilemma Unfolds With Stock Performance, Falling Sales,&#8221;</a> by <a href="https://www.benzinga.com/author/shivani-kumaresan">Shivani Kumaresan</a>, discusses Starbucks Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) CEO Laxman Narasimhan&#8216;s challenges in boosting the company&#8217;s performance amid declining sales and stock value.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/general/biotech/24/04/38535093/april-showers-on-wall-street-miners-utilities-emerge-as-bright-spots-in-gloomy-market">April Showers On Wall Street: Miners, Utilities Emerge As Bright Spots In Gloomy Market</a>
<a href="https://www.benzinga.com/economics/macro-economic-events/24/05/38554589/manufacturing-activity-gauge-contracts-again-in-april-commodity-costs-hit-produce">Manufacturing Activity Gauge Contracts Again In April: Commodity Costs Hit Producers</a>
<a href="https://www.benzinga.com/news/large-cap/24/04/38529328/walmart-to-shut-down-all-clinic-locations-amid-rising-costs-what-it-means-for-your-healthcare">Walmart to Shut Down All Clinic Locations Amid Rising Costs – What It Means for Your Healthcare?</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image created using artificial intelligence via Midjourney.

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Benzinga Bulls And Bears: Apple, Tesla, AMC, Bitcoin And Shiba Inu's Chart Forms Powerful Technical Patterns

The yearly shopping extravaganza hosted by Warren Buffett preceding the annual meeting of Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) has kicked off this weekend, offering shareholders an array of products from Berkshire's portfolio companies.
What Happened: The event, taking place at the CHI Health Center, features over 20,000 square feet of exhibition space and more than 50,000 items from various Berkshire's holding companies, including Brooks Running, See's Candies, and Jazwares, as <a href="https://www.cnbc.com/2024/05/03/warren-buffetts-shopping-extravaganza-kicks-off-with-squishmallows-pit.html">reported</a> by CNBC.
The event is exclusive to shareholders, who can avail special discounts on purchases. Jazwares, the American toymaker renowned for its Squishmallows plushie line, was a crowd favorite last year when it debuted at Berkshire Hathaway's conference. This year, the company has tripled its exhibit space in the convention hall.
Highlights of the event include the latest Squishmallows toys modeled after Buffett and his longtime Berkshire partner, Charlie Munger, a vibrant Squishmallows pit, among other displays.
The Bookworm had only one book on offer this year: "Poor Charlie's Almanack: The Essential Wit and Wisdom of Charles T. Munger." This was at Buffett&#8217;s request to honor his business partner of over six decades, who passed away last November at the age of 99.
Other notable exhibits featured a virtual reality flight simulation training by FlightSafety, a life-sized red truck display by Pilot Travel Centers, and a special edition of running shoes by Brooks Running with "brk" on the side and a cartoon of a running Buffett on the insoles.
Berkshire Hathaway&#8217;s 2024 annual meeting will be held on May 4 at 4 pm. 
Read More:&nbsp;<a href="https://www.benzinga.com/news/24/05/38628798/do-not-put-your-finger-in-youtuber-experiments-with-tesla-cybertruck-frunk-sensing-capabilities">&#8216;Do Not Put Your Finger In&#8230;&#8217;: YouTuber Experiments With Tesla Cybertruck Frunk Sensing Capabilities</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.
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Warren Buffett's Annual Shopping Extravaganza Begins, Showcasing Charlie Munger Squishmallows And 'Poor Charlie's Almanack'

The weekend is almost here and so is the time to buckle up for two days of entertainment. Whether you want to watch a murder mystery or science fiction, we have all the bases covered for you on Hulu and Disney+.
From movies to new shows and long-running ones, Hulu and Disney+ both have a diverse content library for everyone.
Don't want to dive into a lengthy TV show? There's a movie for you. Love binge-watching? There's a long show you can load up on.
Here's a roundup of fresh new TV shows and movies you can watch on Hulu and Disney+ this weekend.
<h3 class="wp-block-heading">Welcome To Wrexham</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="538" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03104352/Welcome-To-Wrexham-1024x538.jpg" alt="" class="wp-image-321728" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03104352/Welcome-To-Wrexham-1024x538.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03104352/Welcome-To-Wrexham-300x158.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03104352/Welcome-To-Wrexham-768x403.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03104352/Welcome-To-Wrexham.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Welcome To Wrexham &#x7C; Image courtesy: Hulu</figcaption></figure>
Movie star Ryan Reynolds and "It's Always Sunny in Philadelphia" star Rob McElhenney are back with the third season of the sports documentary Welcome to Wrexham.
Watch Wrexham's rise try to earn a promotion from League Two and find out if the underdog team ends up succeeding.
Where To Watch:&nbsp;Hulu
<h3 class="wp-block-heading">Grey's Anatomy</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03104415/Greys-Anatomy-1024x576.jpg" alt="" class="wp-image-321729" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03104415/Greys-Anatomy-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03104415/Greys-Anatomy-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03104415/Greys-Anatomy-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03104415/Greys-Anatomy.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Grey's Anatomy &#x7C; Image courtesy: Hulu</figcaption></figure>
One of the longest-running medical dramas in history, Grey's Anatomy is back for the 20th season. Watch surgical interns save patients and embark on a journey of a lifetime.
Where To Watch:&nbsp;Hulu
<h3 class="wp-block-heading">Prom Dates (2024)</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03104436/Prom-Dates-2024-1024x576.jpg" alt="" class="wp-image-321730" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03104436/Prom-Dates-2024-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03104436/Prom-Dates-2024-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03104436/Prom-Dates-2024-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03104436/Prom-Dates-2024.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Prom Dates (2024) &#x7C; Image courtesy: Hulu</figcaption></figure>
This Hulu original movie shows two best friends, Jess and Hannah, trying to honor a pact they made when they were 13 years old. Things fall apart when their dates break up 24 hours before the prom – will Jess and Hannah find new dates in a day? There's one way to find out.
Where To Watch:&nbsp;Hulu
<h3 class="wp-block-heading">Shardlake</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03104447/Shardlake-1024x576.jpg" alt="" class="wp-image-321732" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03104447/Shardlake-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03104447/Shardlake-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03104447/Shardlake-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03104447/Shardlake.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Shardlake &#x7C; Image courtesy: Disney+</figcaption></figure>
Set in the 16th-century reign of Henry VIII, the Shardlake TV series is based on CJ Sansom's novels. The lead, Matthew Shardlake is sent to investigate the death of a commissioner in a remote town. Will he succeed?
Where To Watch:&nbsp;Disney+
<h3 class="wp-block-heading">Star Wars: Tales Of The Empire</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03104457/Star-Wars-Tales-Of-The-Empire-1024x576.jpg" alt="" class="wp-image-321734" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03104457/Star-Wars-Tales-Of-The-Empire-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03104457/Star-Wars-Tales-Of-The-Empire-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03104457/Star-Wars-Tales-Of-The-Empire-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03104457/Star-Wars-Tales-Of-The-Empire.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Star Wars: Tales Of The Empire &#x7C; Image courtesy: Disney+</figcaption></figure>
Keeping with the tradition, Disney has Star Wars: Tales of the Empire that streams on May 4, in celebration of Star Wars Day.
Star Wars: Tales of the Empire is an animated show that chronicles the journey of a fallen Jedi, Barriss Offee, and a young Morgan Elsbeth.
May the Fourth be with you.
Where To Watch:&nbsp;Disney+
<h3 class="wp-block-heading">Monsters At Work</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03104507/Monsters-At-Work-1024x576.jpg" alt="" class="wp-image-321737" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03104507/Monsters-At-Work-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03104507/Monsters-At-Work-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03104507/Monsters-At-Work-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/03104507/Monsters-At-Work.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Monsters At Work &#x7C; Image courtesy: Disney+</figcaption></figure>
Miss Monsters, Inc.? Monsters at Work is the cure you need. This animated sitcom first premiered in 2021 and it's back for the second season now.
Scare Major graduate Tylor Tuskmon's job as well as friendships are at risk after he gets a job offer from rival firm Fear Co. Will he take the plunge? Watch now to find out.
Where To Watch: Disney+
Photo courtesy: Shutterstock