Short interest for Matinas BioPharma Hldgs gives investors a sense of the degree to which investors are betting on the decline of Matinas BioPharma Hldgs's stock. Short interest data is updated every two weeks.

Matinas BioPharma Hldgs Stock (AMEX:MTNB), Short Interest Report

Matinas BioPharma Hldgs

Matinas BioPharma Holdings Inc is a clinical-stage biopharmaceutical company with a focus on identifying and developing novel pharmaceutical products. The firm's pipeline includes MAT2203, MAT2501, and others.

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Progress with Matinas BioPharma&#39;s MAT2203 for invasive fusarium infection. Clinical response achieved in patients resistant to other antifungals.

Why Is Fungal Infections-Focused Matinas BioPharma Stock Trading Higher On Friday?

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Shares of  Reneo Pharmaceuticals, Inc. (NASDAQ: RPHM) shares rose sharply during Wednesday’s session after Concentra sent an acquisition proposal to acquire 100% of equity of the company for $1.80 per share.

Reneo Pharmaceuticals shares climbed 13.6% to $1.59 on Wednesday.

Why Reneo Pharmaceuticals Shares Are Trading Higher By Around 14%? Here Are Other Stocks Moving In Wednesday&#39;s Mid-Day Session

Equities

Wednesday, Matinas BioPharma Holdings Inc (NASDAQ: MTNB) announced results from a series of in vivo studies demonstrating successful oral delivery of two lipid nanocrystal (LNC)-formulated small single-strand oligonucleotides targeting inflammatory cytokines TNFα and IL-17

Why Is Inflammatory Focused Matinas BioPharma Stock Trading Higher Today?

Matinas Biopharma Holdings, Inc. Common Stock

Matinas BioPharma Holdings Inc

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

Tech

TSLA

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

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

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

Pharming (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PHAR#NASDAQ">PHAR</a>) reported quarterly losses of $(0.02) per share which missed the analyst consensus estimate of $0.01 by 290 percent. This is unchanged from the same period last year. The company reported quarterly sales of $55.586 million which missed the analyst consensus estimate of $68.425 million by 18.76 percent. This is a 30.66 percent increase over sales of $42.541 million the same period last year.

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Pharming Q1 2024 GAAP EPS $(0.02) Misses $0.01 Estimate, Sales $55.586M Miss $68.425M Estimate

2024&nbsp;Outlook
<ol>
<li>Overall Performance:&nbsp;We expect our EBITDA to grow in line with our medium-term&nbsp;outlook&nbsp;of between&nbsp;4-8%. The&nbsp;outlook&nbsp;for FY24 reflects our current assessment of inflation and other macroeconomic conditions.</li>
<li>Net Finance Costs:&nbsp;Net pension interest expenses and accretion expenses are expected to be in the range of 220 to 250 million USD per quarter, depending on currency and interest rate fluctuations. We expect the average gross debt coupon in FY24 to be approximately&nbsp;4%.</li>
<li>Effective Tax Rates (ETR):&nbsp;We expect the normalized ETR in FY24 to be in the range of&nbsp;27%&nbsp;to&nbsp;29%. The ETR&nbsp;outlook&nbsp;does not consider the impact of potential future changes in legislation.</li>
<li>Net Capital Expenditure:&nbsp;We expect net capital expenditure of between 4.0 and 4.5 billion USD in FY24.</li>
</ol>

Anheuser-Busch InBev Expects 2024 EBITDA To Grow In Line With Its Medium-Term Outlook Of 4%-8%, And Expects Capital Expenditure Of 4B-4.5B

Anheuser-Busch InBev Q1 Total Volumes Declined By 0.6%, With Own Beer Volumes Down By 1.3% And Non-Beer Volumes Up By 3.5%

Anheuser-Busch InBev (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>) reported quarterly earnings of $0.75 per share which beat the analyst consensus estimate of $0.67 by 11.94 percent. This is a 15.38 percent increase over earnings of $0.65 per share from the same period last year. The company reported quarterly sales of $14.547 billion which beat the analyst consensus estimate of $14.415 billion by 0.91 percent. This is a 2.35 percent increase over sales of $14.213 billion the same period last year.

Earnings Beats

Anheuser-Busch InBev Q1 2024 Adj EPS $0.75 Beats $0.67 Estimate, Sales $14.547B Beat $14.415B Estimate

Walt Disney Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) CEO&nbsp;Bob Iger&nbsp;was questioned about his succession plans during the <a href="https://www.benzinga.com/news/earnings/24/05/38669929/walt-disney-q2-earnings-profit-beat-moderating-parks-growth-password-sharing-crackdown-and-more">second-quarter earnings call</a>, to which he gave a vague response.
What Happened: On Tuesday, during the earnings call, Kannan Venkateshwar from Barclays, asked Iger about his succession plans saying, &#8220;Could you talk about what your goal is in terms of the hand-off? What do you hope to achieve in your tenure before the next CEO takes over.&#8221;
In response, Iger did not divulge much information but said that the board is heavily engaged in the process, and he expects a smooth transition. 
&#8220;The board is&nbsp;heavily engaged in the process&nbsp;and has appointed a succession&nbsp;planning committee that is meeting&nbsp;on a regular basis to&nbsp;not just discuss, but also&nbsp;to manage the process,&#8221; Iger said, adding, &#8220;I&#8217;m confident that they will choose&nbsp;the right person at the&nbsp;right time. And that to&nbsp;the extent that I can,&nbsp;we&#8217;ll participate in a smooth&nbsp;transition.&#8221; 
See Also:&nbsp;<a href="https://www.benzinga.com/general/entertainment/24/05/38547111/bob-iger-started-as-a-nobody-at-abc-for-150-a-week-and-rose-to-become-disney-ceo-5-lessons-" target="_blank" rel="noreferrer noopener">Bob Iger Started As A Nobody At ABC For $150 A Week And Rose To Become Disney CEO: 5 Lessons From His Incredible Journey That Can Help Advance Your Career</a>
Why It Matters: The succession of Iger has been a <a href="https://www.benzinga.com/news/24/04/38088716/who-will-be-disneys-next-ceo-hunt-for-bob-igers-successor-accelerates-as-boardroom-drama-with-activi">topic of intense speculation</a> and discussion. The search for a new CEO at Disney has been a long and drawn-out process. The board had repeatedly delayed decisions regarding Iger&#8217;s successor, pushing back his retirement date on five occasions. 
However, following the end of a protracted proxy battle with activist investor&nbsp;Nelson Peltz, the search for a new CEO had intensified.
Industry experts have identified Dana Walden, co-chairman of Disney Entertainment, as a leading candidate. Other individuals considered for succession include Josh D&#8217;Amaro, chairman of Disney Experiences, Jimmy Pitaro, chairman of ESPN, and Alan Bergman, co-chairman of Disney Entertainment.
Iger resumed his role as <a href="https://www.benzinga.com/news/23/07/33207650/disneys-board-votes-for-continuity-extends-ceo-igers-contract-to-2026">Disney&#8217;s CEO in November 2022</a>, after previously holding the position of CEO and chairman from 2005 to 2020. Subsequently, he served as the executive chairman and chairman of the board until 2021.
In 2020, Iger was succeeded by Bob Chapek, with whom he <a href="https://www.benzinga.com/general/entertainment/23/09/34370367/disney-not-the-happiest-place-on-earth-for-ceos-iger-chapek-battle-over-a-shower">reportedly had a huge rift because</a> of the CEO office at Disney headquarters. According to reports, the CEO&#8217;s office held one particular feature that made Iger hesitant to pass it on to Chapek: a private shower originally installed for former Disney CEO Michael Eisner.
Reportedly, Iger informed Chapek that he valued his &#8220;two-shower days&#8221; lifestyle and was adamant about retaining the office. Eventually, Chapek acquiesced to Iger&#8217;s choice, considering his new role as executive chairman, and relocated to a smaller office on the same floor at Disney headquarters in California.
Meanwhile, Disney reported a 1% year-on-year revenue increase, reaching $22.08 billion, slightly below the anticipated $22.11 billion. However, its adjusted EPS of $1.21 surpassed expectations set at $1.09.
Photo by Fred Duval on Shutterstock.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/05/38635874/elon-musk-is-astonished-by-warren-buffetts-berkshire-hathaway-amassing-as-much-cash-as-tesla-ceo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Is Astonished By Warren Buffett's Berkshire Hathaway Amassing As Much Cash As Tesla CEO's Wealth: ‘Wow'</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Entertainment

Disney CEO Bob Iger Remains Tight-Lipped On Successor, But Assures 'Smooth Transition'

The Federal Reserve&#8217;s Chairman Jerome Powell is under intense scrutiny as the U.S. presidential election approaches. Market experts are questioning his ability to remain independent of political pressure.
What Happened: In a recent interview with CNBC&#8217;s Last Call, David Zervos, the Chief Market Strategist at Jefferies, expressed doubts about Powell&#8217;s ability to withstand political pressure, especially with the 2024 elections on the horizon. &#8220;Can Jay Powell, as a human escape, the pressure of politics and the election?&#8221; asked CNBC&#8217;s Brian Sullivan.
&#8220;He has to placate the political forces that are really in the underbelly of the Fed,&#8221; Zervos responded. He emphasized that it is impossible to avoid political influences while operating in Washington.
This stance reflects the Fed&#8217;s longstanding commitment to maintaining its independence and basing decisions on economic analysis rather than political agendas.
Zervos believes that Powell &#8220;has to do magic&#8221; to resist the political forces attempting to influence the Fed&#8217;s decision-making process.
Powell&#8217;s recent statements have sought to reassure the public that political considerations will not sway the Fed&#8217;s decisions. In response to questions about the upcoming presidential election, Powell emphasized that Fed policy would remain focused on what is best for the economy, independent of political pressures. 
However, navigating these turbulent waters is no easy task. The pressure from various political figures, including U.S. Treasury Secretary Janet Yellen, Sen. Elizabeth Warren (D-Mass.), and Senate Banking Committee Chairman Sherrod Brown (D-Ohio), adds complexity to Powell&#8217;s role. These voices, representing different interests and priorities, can exert influence on the Fed&#8217;s decision-making process, according to Zervos.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"Can Jay Powell, as a human escape, the pressure of politics and the election?" <a href="https://twitter.com/SullyCNBC?ref_src=twsrc%5Etfw">@SullyCNBC</a> asks. "He has to placate the political forces that are really in the underbelly of the Fed,&quot; says <a href="https://twitter.com/jefmacrostrat?ref_src=twsrc%5Etfw">@jefmacrostrat</a>. "You can't avoid being in Washington and having political influences." <a href="https://t.co/5BmRQGD6sk">pic.twitter.com/5BmRQGD6sk</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1787984811778322891?ref_src=twsrc%5Etfw">May 7, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/earnings/24/05/38665183/wall-street-stutters-after-disney-palantir-earnings-frustrate-apple-event-hawkish-fed-speech-in-foc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">S&amp;P 500, Nasdaq Futures Signal Mixed Open: What&#8217;s Going On With Stock Market Today?</a>
Why It Matters: Powell&#8217;s ability to remain independent of political pressure has been a topic of discussion for some time. His appointment as Fed Chair by President Joe Biden in 2021 was seen as a move to ensure continuity and bipartisanship, as <a href="https://www.politico.com/news/2021/11/22/why-biden-picked-powell-523214">reported</a> by Politico.
However, Powell&#8217;s leadership has been under scrutiny recently. Renowned economist Peter Schiff criticized Powell for his <a href="https://www.benzinga.com/news/24/05/38571216/peter-schiff-blasts-jerome-powell-for-not-seeing-the-stag-in-stagflation-same-type-of-blindness-that">handling of the economy</a>, particularly his dismissal of stagflation concerns.
Furthermore, the U.S. government&#8217;s interest payments on <a href="https://www.benzinga.com/news/24/05/38661979/us-pays-2m-interest-per-minute-on-national-debt-funny-peculiar-chicken-and-the-egg-type-situation">its national debt</a> have reached an unprecedented $2 million per minute, sparking a debate about the impact of higher interest rates on the economy.
These developments, combined with Powell&#8217;s <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38635916/el-erian-warns-feds-data-dependence-risks-global-market-havoc-that-is-what-weve-got">data-dependent approach</a>, have raised concerns about the potential for further disruptions in global markets, as highlighted by economist Mohamed El-Erian.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/05/38609896/wall-street-looks-to-feed-off-apples-post-earnings-power-but-key-jobs-data-may-upset-the-cart-analy?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nasdaq, S&amp;P 500 Futures Signal Higher Open On Apple&#8217;s Boost: Will Non-Farm Payrolls Data Play Spoilsport?</a>
Image Via Shutterstock
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Politics

Global

Federal Reserve

Can Jerome Powell Escape The Pressure Of Politics And The 2024 Election: 'He Has To Do Magic,' Says Market Strategist

Litecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ltc/usd">LTC</a>) remained the most preferred cryptocurrency for payments in April, outperforming all major assets, including its inspiration, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)
What happened:&nbsp; According to the world&#8217;s largest crypto payment service provider, BitPay, Litecoin's share of global payments exceeded 41% last month, up from 39% in March.
The cryptocurrency created from the hard fork of Bitcoin in 2011, has consistently topped the payments chats, with April marking its fourth straight month of dominance.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">BREAKING: <a href="https://twitter.com/search?q=%24LTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LTC</a> is the #&#xFE0F;&#x20E3;&#x31;&#x20e3; <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw">#crypto</a> for payments!! The latest numbers are out.. and <a href="https://twitter.com/hashtag/Litecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Litecoin</a> has been #1 all year, by far the leader with over 41% choosing to <a href="https://twitter.com/hashtag/PayWithLITECOIN?src=hash&amp;ref_src=twsrc%5Etfw">#PayWithLITECOIN</a> on the world&#39;s leading crypto payment processor <a href="https://twitter.com/BitPay?ref_src=twsrc%5Etfw">@Bitpay</a>!!! <a href="https://t.co/pajOvmD3qB">pic.twitter.com/pajOvmD3qB</a>
&mdash; Litecoin (@litecoin) <a href="https://twitter.com/litecoin/status/1788029566688370911?ref_src=twsrc%5Etfw">May 8, 2024</a></blockquote>
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In contrast, Bitcoin&#8217;s share of payments decreased from 25.32% in March to 21.55% in April.&nbsp;&nbsp;
Why it matters: While Litecoin was originally <a href="https://litecoin.org/">intended </a>to be a payment method, it has since evolved into a tool for speculation and investment, trading regularly in the market.
Also dubbed the "digital silver" to Bitcoin's gold, Litecoin has evaded scrutiny from U.S. regulators regarding its status, and many experts believe it to be the only other commodity in the cryptocurrency market apart from Bitcoin.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">the bullcase for Litecoin is massive &#8211; the only other recognised ‘commodity' in <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw">#crypto</a> alongside <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> &amp; most reliable payment system in the world over the last decade + <a href="https://twitter.com/search?q=%24LTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LTC</a> <a href="https://twitter.com/hashtag/LTC?src=hash&amp;ref_src=twsrc%5Etfw">#LTC</a> &#x1f916;&#x1f440; <a href="https://t.co/rgt1QTLIQA">https://t.co/rgt1QTLIQA</a>
&mdash; RoboTrader (@RoboBTC) <a href="https://twitter.com/RoboBTC/status/1787839696489398418?ref_src=twsrc%5Etfw">May 7, 2024</a></blockquote>
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Despite these fundamental advantages and its impressive run as a digital payments tool, Litecoin's market valuation remains low vis-à-vis other projects with much less utility. As of this writing, it was the 19th largest cryptocurrency, with a market capitalization of just over $6 billion, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.&nbsp;
Litecoin&#8217;s Network Value-to-Transaction ratio has been on the lower side over the past year, <a href="https://app.santiment.net/charts/BeANw2k0__sCl">according </a>to on-chain analytics firm Santiment. A low NVT means that an asset is cheaper per unit of on-chain transaction volume, signaling a potentially undervalued asset.
Price Action: Litecoin was exchanging hands at $80.97 at the time of publication, falling marginally by 0.19% in the last 24 hours, according to data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>. Litecoin was selling 77% lower than its all-time high in May 2021. 
Photo Courtesy: Shutterstock.com
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38689787/bitcoin-ethereum-dogecoin-sink-further-as-regulatory-woes-weigh-down-investors-analyst-say">Bitcoin Ethereum, Dogecoin Sink Further As Regulatory Woes Weigh Down Investors: Analyst Says Majority Top Market Cap Cryptos In &#8216;Slight Buy Zones&#8217;</a>

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

Cryptocurrency

$BTC

$LTC

This Bitcoin-Offshoot Tops Digital Payments, Escapes SEC Scrutiny But Remains Undervalued: 'The Bullcase…Is Massive'

BBJP

WisdomTree Trust Japan Total Dividend Fund

Japan 10-Year JGB Auction 0.857% Vs. 0.753% Prior

Courtney Reum, a 45-year-old venture capitalist and Paris Hilton's brother-in-law, has made an unexpected career move by joining a struggling soccer team in Portugal&#8217;s second division. His journey from the world of finance to professional soccer has been an intriguing one.
What Happened: Reum, a former investment banker at Goldman Sachs Group Inc, recently signed with Länk FC Vilaverdense, a team in Portugal&#8217;s second division, <a href="https://www.wsj.com/lifestyle/pro-soccer-rookie-courtney-reum-45-financier-293491cc?mod=WTRN_pos4&amp;cx_testId=3&amp;cx_testVariant=cx_164&amp;cx_artPos=3">reported</a> The Wall Street Journal. 
He secured the position after a two-year journey that began when he started working with Corey Woolfolk, a former professional player who is now a biotech executive.
"I kind of wanted to have this experience I maybe could've had, or would've liked to have had, 20 or 25 years ago," Reum said.&nbsp;&nbsp;
Woolfolk, who runs a company that invests in soccer businesses, helped Reum find a team that would allow him to fulfill his dream of playing professional soccer. Vilaverdense, enticed by Reum&#8217;s financial offer and potential future investments, took a chance on the 45-year-old rookie.
Reum invested a significant amount of money in a 10-week crash course to prepare himself for the physical demands of the game. Despite facing injuries during his training, Reum made his professional debut in a crucial game for Vilaverdense, which unfortunately ended in a 1-0 loss, leading to the team&#8217;s relegation to the third division.
Reum, a former &#8220;Men&#8217;s Fitness&#8221; cover model, was already in excellent shape before starting his training. As an investor in Monarch Athletic Club, he had been utilizing its tailored services, such as nutrition, sleep, strength, movement, and metabolic panels, for about four years. This allowed him to handle his tight timeline for achieving match fitness, as stated by Dr. Ryan Greene, Monarch&#8217;s co-founder.
See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38634310/tesla-retail-shareholder-who-poured-3-5b-into-ev-stock-screams-foul-over-magician-elon-musks-pay?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Retail Shareholder Who Poured $3.5B Into EV Stock Screams Foul Over &#8216;Magician&#8217; Elon Musk&#8217;s Pay Package Plan, Urges Other Investors To Vote No: &#8216;Don&#8217;t Be A Sucker&#8217;</a>
Why It Matters: Reum&#8217;s unconventional career move is not the first time a prominent figure has ventured into the world of soccer. In April, sports celebrities like Lionel Messi and Mario Götze made <a href="https://www.benzinga.com/general/sports/24/04/38151915/how-messi-g-tze-other-soccer-legends-become-powerhouse-investors">strategic investments</a> in various fields, blurring the line between athleticism and entrepreneurship. 
Meanwhile, entrepreneurs like Ryan Reynolds have been making waves in the soccer world, with the actor recently purchasing a stake in a <a href="https://www.benzinga.com/general/entertainment/24/04/38530584/ryan-reynolds-rob-mcelhenney-buy-another-soccer-team-can-dynamic-duo-turn-around-mexico-clu">Mexican soccer team</a>. This trend highlights the growing influence of sports figures in the business world, as they use their platforms to drive change and innovation.
On a related note, in 2023, Elon Musk took a jab at Paris Hilton&#8217;s <a href="https://www.benzinga.com/news/23/12/36063717/elon-musk-takes-aim-at-paris-hiltons-ad-campaign-following-her-media-companys-withdrawal-from-x-wasn">advertising campaign</a> after her media company, 11:11 Media, withdrew its advertisements from X, formerly Twitter, over alleged antisemitic content. 
Despite the skepticism surrounding his unconventional career move, Reum remains committed to his new team, balancing his work with Vilaverdense with his responsibilities at M13, the venture firm he co-founded with his younger brother, Carter Reum, according to the report.
Read Next: <a href="https://www.benzinga.com/news/24/05/38668133/xi-jinping-says-he-would-never-forget-natos-bombing-of-chinese-embassy-25-years-ago-will-never-allow?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Xi Jinping Says He Would &#8216;Never Forget&#8217; NATO&#8217;s Bombing Of Chinese Embassy 25 Years Ago: &#8216;Will Never Allow Such Tragic History To Repeat Itself&#8217;</a>
Image Via Shutterstock 
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Sports

Paris Hilton's 45-Year-Old Brother-In-Law And Former Goldman Sachs Banker, Courtney Reum, Realizes Professional Soccer Dream

Tuesday saw the major U.S. indices end the day mixed. The Dow Jones Industrial Average saw a modest uptick of 0.08%, reaching 38,884.26, while the Nasdaq experienced a slight decline of 0.1%, settling at 16,332.56. Meanwhile, the S&amp;P 500 concluded the day with a 0.13% increase, reaching 5,187.70.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Reddit, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>)
Reddit shares soared by 2.34% to close at $49.40, with an intraday high of $50.33 and a low of $47.4. The stock&#8217;s 52-week high and low are $74.9 and $37.35, respectively. The company reported its first post-IPO first-quarter results, with <a href="http://on">quarterly sales of $242.96 million</a>, beating the analyst consensus estimate by 14.16%. However, the quarterly losses of $8.19 per share missed the analyst consensus estimate by 17.5%. 
Rivian Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>)
Rivian shares fell by 0.8% to close at $10.25, with an intraday high of $11.22 and a low of $10.07. The stock&#8217;s 52-week high and low are $28.06 and $8.26, respectively. The electric vehicle company reported <a href="https://www.benzinga.com/news/earnings/24/05/38683524/rivian-q1-earnings-highlights-revenue-beat-eps-miss-vehicle-guidance-reaffirmed">first-quarter revenue </a>of $1.20 billion, beating the Street consensus estimate. 
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38660535/expert-slams-starbucks-ceos-response-to-falling-stock-performance-you-got-to-be-on-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Expert Slams Starbucks CEO&#8217;s Response To Falling Stock Performance: &#8216;You Got To Be On Drugs To Say Someth</a>
Lyft, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>)
Lyft shares dropped by 5.25% to close at $16.60, with an intraday high of $17.43 and a low of $16.45. The stock&#8217;s 52-week high and low are $20.82 and $7.85, respectively. The company reported its first-quarter financial results, with quarterly sales of $1.28 billion, <a href="https://www.benzinga.com/news/earnings/24/05/38683941/lyft-shares-rise-after-mixed-q1-results">beating the analyst consensus estimate</a> by 10.02%. However, the quarterly losses of 8 cents per share missed the analyst consensus estimate. 
Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>)
Uber shares fell by 1.51% to close at $70.43, with an intraday high of $72.64 and a low of $69.8. The stock&#8217;s 52-week high and low are $82.14 and $37.07, respectively. The company announced a <a href="https://www.benzinga.com/markets/equities/24/05/38676721/from-groceries-to-gourmet-instacart-and-uber-eats-serve-up-convenience-with-new-collaboration">strategic collaboration</a> with Maplebear Inc., introducing Uber Eats restaurant delivery services to Instacart users.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla shares dropped by 3.76% to close at $177.81, with an intraday high of $183.26 and a low of $177.4. The stock&#8217;s 52-week high and low are $299.29 and $138.8, respectively. The company announced a <a href="https://www.benzinga.com/top-stories/24/05/38680302/tesla-will-temporarily-stop-production-at-german-gigafactory-heres-why">temporary halt in production</a> at its German Gigafactory due to upcoming protests. 
Photo by Phongphan on Shutterstock
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
Read Next: <a href="https://www.benzinga.com/news/24/05/38542692/tesla-ceo-elon-musk-is-impressed-by-the-fact-that-jeff-bezos-aws-12-month-revenue-is-higher-than-466?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla CEO Elon Musk Is Impressed By The Fact That Jeff Bezos&#8217; AWS 12-Month Revenue Is Higher Than 466 S&amp;P 500 Companies: &#8216;Wow&#8217;</a>
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RDDT

RIVN

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Reddit, Rivian, Lyft, Uber, Tesla: Why These 5 Stocks Are On Investors' Radars Today

To address severe inflation and currency devaluation, Argentina under President Javier Milei, known for his pro-Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) stance, has introduced 10,000 peso notes. The new bills, worth approximately $11, are expected to alleviate the burden of carrying large amounts of cash.
What Happened: The Central Bank of Argentina has released the country&#8217;s first 10,000-peso notes, <a href="https://www.ft.com/content/1d8701f7-c9a9-417b-851a-84f54df0b438">reported</a> the Financial Times. This move is aimed at simplifying the nation&#8217;s reliance on large quantities of cash following the collapse of its currency.
The new notes, which are five times more valuable than the previous largest note of 2,000 pesos, are expected to facilitate transactions and make the financial system more efficient. The country&#8217;s currency has lost 95% of its value over the past five years, driving the annual inflation rate to a staggering 287% in March.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38635916/el-erian-warns-feds-data-dependence-risks-global-market-havoc-that-is-what-weve-got?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">El-Erian Warns Fed&#8217;s Data Dependence Risks Global Market Havoc: &#8216;That Is What We&#8217;ve Got To Keep An Eye On</a>
Despite President Milei&#8217;s efforts to curb inflation and stabilize the peso by ending the previous government&#8217;s reliance on money printing, the central bank continues to print money to pay interest on a significant amount of short-term liabilities issued to domestic creditors.
Argentina&#8217;s monthly inflation rate, which peaked at 26% in December, has since fallen to 11% as of March. Milei has suggested that the April rate, to be published next week, could be in single digits.
Why It Matters: The introduction of the 10,000-peso notes comes amid a <a href="https://www.benzinga.com/news/24/03/37412909/javier-milei-says-capitalism-savings-and-hard-work-only-way-to-exit-poverty-as-he-lays-out-argentina">series of economic reforms</a> under President Milei&#8217;s administration. Milei, a libertarian economist, has been vocal about his plans to stabilize the country&#8217;s economy through fiscal austerity and a shift away from money printing.
Despite the economic challenges, investor confidence in Argentina has been on the rise. In a recent development, Elon Musk endorsed Argentine stocks, leading to <a href="https://www.benzinga.com/markets/latin-america/24/05/38674225/elon-musk-endorses-argentine-stocks-bond-etf-rally-persists-in-wake-of-mileis-election-vict">a significant rally</a> in the country&#8217;s assets. This marks the ETF's eighth gain in nine sessions, culminating in a 54% rally since Milei's election victory in November.
Price Action: Bitcoin is currently trading at $62,762.60, showing a gain of 0.72% in the last 24 hours and an impressive 42.09% increase year-to-date, according to the data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/05/38665183/wall-street-stutters-after-disney-palantir-earnings-frustrate-apple-event-hawkish-fed-speech-in-foc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">S&amp;P 500, Nasdaq Futures Signal Mixed Open: What&#8217;s Going On With Stock Market Today?</a>
Javier Milei Image Via Wikimedia Commons
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Pro-Bitcoin President Javier Milei's Argentina Introduces 10,000-Peso Notes As It Combats Hyperinflation, Currency Collapse

On Tuesday, the Cathie Wood-led Ark Invest made some significant trades. The most prominent among them were the increased stakes in Palantir Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) and the reduced holdings in Coinbase Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>).
The PLTR Trade
Ark Invest&#8217;s ETFs Ark Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>), ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>), ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>), and ARK Space Exploration &amp; Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKX#BATS">ARKX</a>) purchased a combined total of 1,35,3667 shares of Palantir. This move came despite the company&#8217;s shares trading lower following the release of its first-quarter financial results and softer guidance. The value of this trade, based on the closing price of $21.40, is approximately $29 million.
According to a previous report, Palantir&#8217;s <a href="https://www.benzinga.com/news/earnings/24/05/38670680/palantir-stock-is-falling-tuesday-whats-going-on">first-quarter revenue increased</a> 21% year-over-year to $634 million, beating the consensus estimate. The company also reported adjusted earnings of 8 cents per share, in line with analyst estimates. Despite exceeding revenue expectations, the shares tumbled as investors reacted negatively to the company's light guidance for the second quarter and the full year.
The COIN Trade
Ark Invest&#8217;s ARKF, ARKK, and ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>) sold a total of 70,616 shares of Coinbase. This decision was made despite Coinbase&#8217;s recent first-quarter earnings report, which highlighted a <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38598804/coinbase-q1-earnings-highlights-revenue-beat-institutional-trading-volume-hits-all-time-hi">revenue beat</a> and an all-time high in institutional trading volume. The value of this trade, based on the closing price of $214.34, is approximately $15.1 million.
Coinbase reported total revenue of $1.64 billion, beating the Street consensus estimate of $1.34 billion. The company also reported a GAAP EPS of $4.40.
Ark&#8217;s transaction on Coinbase occurred during a period of subdued cryptocurrency values, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) observed to be trading 1.4% lower over a 24-hour period, resting at $62,631.01 at the time of writing. The prevailing pessimism persists following regulatory action against Robinhood Markets Inc., a competitor of Coinbase, as it received a Wells Notice from the Securities and Exchange Commission.
See Also: <a href="https://www.benzinga.com/partner/markets/24/05/38581015/majority-of-us-social-media-users-make-influencer-inspired-online-purchases-according-to-new-izea?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Majority Of US Social Media Users Make Influencer-Inspired Online Purchases, According To New IZEA Study</a>
Other Key Trades: 
Ark Invest&#8217;s ARKF and ARKW ETFs sold a total of shares of Draftkings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>). 
ARKK sold shares of Twist Bioscience Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWST#NASDAQ">TWST</a>). ARKQ bought the stock of Rocket Lab USA Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>). ARKW also bought shares of Datadog Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DDOG#NASDAQ">DDOG</a>).
Photo via WEF on Flickr
Read Next: <a href="https://www.benzinga.com/partner/markets/24/05/38581492/how-can-small-investors-access-private-deals-with-big-potential?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">How Can Small Investors Access Private Deals With Big Potential?</a>
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 Engineered by 
 Benzinga Neuro, Edited by 
 
 <a href="None" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none"> 
 Shivdeep Dhaliwal</a> 
 
 
<hr style="border: 0;height: 1px;background: #225aa9" />

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

ARKF

ARKK

ARKQ

ARKW

ARKX

DDOG

DKNG

PLTR

RKLB

TWST

Cathie Wood's Ark Invest Swoops In To Buy The Palantir Dip — Purchases Stock Worth $29M — Offloads Coinbase Shares Worth Over $15M Amid Softening Bitcoin Price

The Walt Disney Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) is making significant changes to its streaming services and Marvel content strategy, with CEO Bob Iger expressing confidence in securing long-term NBA rights.
What Happened: The Walt Disney Company is making major moves to enhance its streaming offerings and superhero content strategy, while expressing confidence in securing long-term NBA rights, according to remarks from the CEO on the company&#8217;s second-quarter 2024 earnings call.
Enhancing Streaming with ESPN Tile
 To drive further engagement on its streaming platforms, Disney announced plans to add an ESPN tile to its Disney+ bundle by the end of 2024. This will give all U.S. Disney+ subscribers access to select live games and studio programming within the Disney+ app.
&#8220;We see this as a first step to bringing ESPN to Disney+ viewers, as we ready the launch of our enhanced stand-alone ESPN streaming service in the fall of 2025,&#8221; Iger stated. &#8220;In addition to that, we do see bundling as an opportunity, sports bundling, which is why we&#8217;re putting the ESPN tile on.&#8221;
Pivoting Marvel To Focus On Quality Iger also revealed that Disney is shifting its Marvel strategy to prioritize quality over quantity of content. The CEO acknowledged that some upcoming Marvel shows are &#8220;a vestige of basically a desire in the past to increase volume.&#8221;
Going forward, Iger said Disney will &#8220;slowly&#8230;decrease volume and go to probably about two TV series a year instead of what had become four and reduce our film output from maybe four a year to two to the maximum three.&#8221;
Confident In Long-Term NBA Rights Deal On the sports rights front, Iger expressed optimism about securing a new long-term NBA rights deal for ESPN, stating &#8220;We&#8217;re confident or optimistic we&#8217;re going to end up with an NBA deal that will be long term in our best interest and the best interest of our subscribers.&#8221;
See Also: <a href="https://www.benzinga.com/partner/markets/24/05/38581015/majority-of-us-social-media-users-make-influencer-inspired-online-purchases-according-to-new-izea?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Majority Of US Social Media Users Make Influencer-Inspired Online Purchases, According To New IZEA Study</a>
Why It Matters: The move to add ESPN to the Disney+ bundle comes as Disney&#8217;s direct-to-consumer segment reached profitability in <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38675021/disney-direct-to-consumer-segment-profits-in-q2-operating-income-modestly-ahead-of-">the second quarter</a>, a key highlight for analysts. 
However, Disney&#8217;s second-quarter earnings also revealed <a href="https://www.benzinga.com/news/earnings/24/05/38669929/walt-disney-q2-earnings-profit-beat-moderating-parks-growth-password-sharing-crackdown-and-more">moderating growth in its parks segment</a>, which makes the shift in Marvel strategy and the addition of ESPN content particularly significant in the context of Disney&#8217;s broader business strategy.
Moreover, Disney&#8217;s ongoing negotiations with Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) to resolve a dispute over the <a href="https://www.benzinga.com/general/entertainment/24/05/38659352/disney-comcast-seek-advisor-to-figure-out-how-much-hulu-is-really-worth-report">valuation of its 33% stake in Hulu</a> further underscores the importance of Disney&#8217;s streaming strategy in its overall business.
Price Action: The Walt Disney Co. closed at $105.39 on Tuesday, marking a 9.51% decline. However, the stock remains up 16.18% year-to-date, according to the data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/news/24/05/38542692/tesla-ceo-elon-musk-is-impressed-by-the-fact-that-jeff-bezos-aws-12-month-revenue-is-higher-than-466?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla CEO Elon Musk Is Impressed By The Fact That Jeff Bezos&#8217; AWS 12-Month Revenue Is Higher Than 466 S&amp;P 500 Companies: &#8216;Wow&#8217;</a>
Image Via Shutterstock 
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Media

CMCSA

Disney's Bob Iger Confident In Landing Long-Term NBA Rights Deal As Media Giant Enhances Streaming With ESPN Tile And Shifts Marvel Strategy

Walt Disney Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) CEO&nbsp;Bob Iger&nbsp;announced a global <a href="https://www.benzinga.com/general/entertainment/24/04/38111752/disneys-netflix-like-password-sharing-crackdown-begins-this-june-as-bob-iger-tries-to-incre">crackdown on password-sharing</a>, citing&nbsp;Netflix Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) as the &#8220;gold standard&#8221; in terms of streaming. 
What Happened: During the <a href="https://www.benzinga.com/news/earnings/24/05/38669929/walt-disney-q2-earnings-profit-beat-moderating-parks-growth-password-sharing-crackdown-and-more">second quarter earnings</a> conference call on Tuesday, Iger said that Disney plans to implement the new policy in select markets starting next month, with a global rollout scheduled for September. &#8220;We feel quite bullish about it,&#8221; he stated. 
The move is expected to contribute to Disney&#8217;s future growth, Iger noted, citing Netflix&#8217;s success with a similar initiative. 
&#8220;We&#8217;re heartened by the results that Netflix has delivered in their password-sharing initiative and believe that it will be one of the contributors to growth,&#8221; he said, adding, &#8220;I think it&#8217;s also important to note, Netflix is in many respects a gold standard when it comes to streaming.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/general/entertainment/24/05/38547111/bob-iger-started-as-a-nobody-at-abc-for-150-a-week-and-rose-to-become-disney-ceo-5-lessons-">Bob Iger Started As A Nobody At ABC For $150 A Week And Rose To Become Disney CEO: 5 Lessons From His Incredible Journey That Can Help Advance Your Career</a>
The Disney CEO went on to say that when it comes to programming, their offerings stand out. They boast an impressive array of high-quality content spanning ESPN, Disney+, and Hulu. 
&#8220;What we&#8217;re building is the technology that Netflix has had in place and has been building for well over a decade to improve the business from a bottom-line perspective,&#8221; he stated. 
Why It Matters: Disney&#8217;s decision to crack down on password sharing aligns with a broader industry trend, as streaming platforms like&nbsp;Netflix, YouTube, and&nbsp;Hulu&nbsp;have also&nbsp;<a href="https://www.benzinga.com/general/entertainment/24/02/36882188/hulu-joins-streaming-giants-netflix-disney-and-youtube-in-password-sharing-crackdown">implemented&nbsp;similar measures</a> to curb password sharing.
In January earlier this year, Netflix expressed its satisfaction with the <a href="https://www.benzinga.com/news/earnings/earnings-misses/24/01/36751622/netflixs-co-ceo-says-thrilled-with-password-sharing-crackdown-sees-positive-impact-">outcomes of its efforts to curb password-sharing</a>, citing heightened engagement levels and a surge in new user registrations as a result. Netflix's co-CEO,&nbsp;Ted Sarandos said, &#8220;Our engagement is a bit impacted by our paid sharing. Think about it like fewer households using the same account.&#8221;
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38278466/netflix-q1-earnings-preview-subscriber-growth-potential-price-increase-ad-tier-plan">Following Netflix&#8217;s first-quarter earnings</a> report in April, Macquarie analyst&nbsp;Tim Nollen noted, &#8220;Netflix&#8217;s password-sharing crackdown on the heels of its ad tier launch helped drive nearly 30m sub adds in FY23.&#8221;
Meanwhile, Disney&#8217;s Q2 earnings showed a 1% year-on-year revenue growth to $22.08 billion, slightly below the $22.11 billion consensus. The company&#8217;s adjusted EPS of $1.21, however, exceeded the $1.09 consensus. 
The earnings report also highlighted a 5% year-on-year decline in Entertainment revenue to $9.8 billion, a 2% year-on-year growth in Sports revenue to $4.3 billion, and a 10% year-on-year increase in Experiences revenue to $8.4 billion.
Photo Courtesy: Shutterstock.com
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/05/38635874/elon-musk-is-astonished-by-warren-buffetts-berkshire-hathaway-amassing-as-much-cash-as-tesla-ceo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Is Astonished By Warren Buffett&#8217;s Berkshire Hathaway Amassing As Much Cash As Tesla CEO&#8217;s Wealth: &#8216;Wow&#8217;</a>
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.

NFLX

Bob Iger Says This Streaming Platform Is The Gold Standard, Praises Rival For Cracking Down On Password Sharing: 'We're Heartened By The Results That Netflix Has Delivered'

The cryptocurrency market slid further Tuesday as market sentiment remained weak amid regulatory potshots taken at cryptocurrency entities.&nbsp;
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded 8:45 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-1.63%</td>
<td>$62,321</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td>
<td>-2.15%</td>
<td>$3,007</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>-4.34%</td>
<td>$0.1505</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin, the market bellwether, sank to $62,000, following a 1.63% drop in the last 24 hours.&nbsp;
The price drop eroded more than $167 million worth of active positions from the market in the last 24 hours, with long liquidations amounting to 77% of the total.
The second-largest cryptocurrency, Ethereum, which shed 2.15% in the 24 hours, saw $43.48 million in liquidations, followed by Bitcoin with $40.80 million in its positions getting recked.
Despite the negative price action, the number of traders taking long positions on Bitcoin surged in the last 24 hours, exceeding the ones shorting the coin by a ratio of 1.11:1.
The negative sentiment has lingered after brokerage firm Robinhood Markets Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) was <a href="https://www.benzinga.com/government/24/05/38647248/sec-nudges-robinhood-over-crypto-operations">slapped with a Wells Notice</a> from the SEC, the latest cryptocurrency company to get on the radar of U.S. regulators.
Top Gainer (24 Hour)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded 8:45 p.m. EDT)</td>
</tr>
<tr>
<td>AIOZ Network (AIOZ)</td>
<td>+9.73%</td>
<td>$0.8088</td>
</tr>
<tr>
<td>Ethena (ENA)</td>
<td>+5.26%</td>
<td>$0.9429</td>
</tr>
<tr>
<td>Chiliz (CHZ)</td>
<td>+3.57%</td>
<td>$0.1275</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market cap now stands at $2.3 trillion, declining by 1.84% in 24 hours.
To the contrary, stocks moved higher on Tuesday. The Dow Jones Industrial Average moved 31.99 points to the north, or 0.08%, to close at 38,884.26. The S&amp;P 500 increased 0.13% to end the trading session at 5,187.70 points. The tech-heavy Nasdaq Composite, however, traded in the red, sinking 0.1% to 16,332.56 points when the markets closed.
The yield on the 10-year Treasury was up by less than 1 basis point to 4.63% as of 9:30 p.m. EDT.&nbsp;
Wall Street has been optimistic since the softer-than-expected U.S. jobs data fueled hopes of a more dovish monetary policy from the Federal Reserve.&nbsp;
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: According to on-chain analytics firm Santiment, most of the leading coins in the market were in buying zones. The inferences were drawn using the popular technical analysis tool, Relative Strength Index.
Ethereum's RSI was higher when compared to other assets, making it more vulnerable to a downside. On the other hand, Cardano's RSI was low, pitching it as a potential buy low candidate.
<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">&#x1f4ca; According to the Relative Strength Index, the majority of top market cap <a href="https://twitter.com/hashtag/cryptocurrencies?src=hash&amp;ref_src=twsrc%5Etfw">#cryptocurrencies</a> are in slight buy zones. This popular momentum oscillator, which is commonly used in technical analysis, suggests <a href="https://twitter.com/hashtag/Cardano?src=hash&amp;ref_src=twsrc%5Etfw">#Cardano</a> as a potential buy low candidate. <a href="https://t.co/czXDUodAY3">https://t.co/czXDUodAY3</a> <a href="https://t.co/hhYEwIkQZT">pic.twitter.com/hhYEwIkQZT</a>
&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1787878103391625233?ref_src=twsrc%5Etfw">May 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Cryptocurrency analyst Michael van de Poppe talked about the struggling state of the altcoin market since spot Bitcoin ETF approvals.
"Altcoins are still within their longest bear market since existence. The likelihood of a longer than four-year cycle increases day-by-day," the analyst said.
<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">State of boredom for the markets after the Spot <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> ETF approval.<a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> are still within their longest bear market since existence. The likelihood of a longer than four-year cycle increases day-by-day.
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1787887870042116401?ref_src=twsrc%5Etfw">May 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Kevin, another well-known cryptocurrency researcher and trader, echoed similar conclusions. 
"I have posted everything I can find numerous times and nothing has changed in months there&#8217;s no money flowing around Crypto. I&#8217;m not gonna feed you guys the same content over and over again and I cant resort to posting 1HR time frame non sense. Call me when something happens."
<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">I have posted everything I can find numerous times and nothing has changed in months there&#39;s no money flowing around <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a>. I&#39;m not gonna feed you guys the same content over and over again and I cant resort to posting 1HR time frame non sense. Call me when something happens. <a href="https://t.co/YJaSpwmNp3">pic.twitter.com/YJaSpwmNp3</a>
&mdash; Kevin (@Kev_Capital_TA) <a href="https://twitter.com/Kev_Capital_TA/status/1787814370296107146?ref_src=twsrc%5Etfw">May 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by SvetlanaParnikova on Shutterstock
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38679616/trumps-potential-return-could-spur-crypto-growth-standard-chartered-report-suggests">Trump&#8217;s Potential Return Could Spur Crypto Growth, Standard Chartered Report Suggests</a>

$DOGE

$ETH

HOOD

Bitcoin Ethereum, Dogecoin Sink Further As Regulatory Woes Weigh Down Investors: Analyst Says Majority Top Market Cap Cryptos In 'Slight Buy Zones'

After Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) <a href="https://www.benzinga.com/news/24/05/38673436/apple-launches-ipad-pro-with-m4-chip-oled-display-at-999-ipad-air-6-now-comes-in-two-sizes-for-the-f">launched its new</a> iPad Air 6 and iPad Pro models on Tuesday, Tesla and SpaceX CEO Elon Musk raised questions about the tech giant's huge research and development investment.&nbsp;
What Happened: Musk took to X, formerly Twitter, and responded to a meme comparing Apple&#8217;s $30 billion R&amp;D spend in 2023 to the marginal improvement in the thickness of its new 11-inch iPad Pro.&nbsp;
The meme was captioned &#8220;How It Started&#8221; vs &#8220;How It&#8217;s Going.&#8221; In response, the tech billionaire said that considering it was a lot of money that was invested in R&amp;D, the Tim Cook-led company might be working on some "secret products."&nbsp;
See Also: <a href="https://www.benzinga.com/news/24/05/38542692/tesla-ceo-elon-musk-is-impressed-by-the-fact-that-jeff-bezos-aws-12-month-revenue-is-higher-than-466?itm_source=parsely-api">Tesla CEO Elon Musk Is Impressed By The Fact That Jeff Bezos&#8217; AWS 12-Month Revenue Is Higher Than 466 S&amp;P 500 Companies: &#8216;Wow&#8217;</a>
<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">That's a lot of money. Maybe they have some secret products in development &#x1f937;&#x200d;&#x2642;&#xfe0f; ?
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1787914308225220993?ref_src=twsrc%5Etfw">May 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: This isn't the first time, Apple's substantial R&amp;D investment caught Musk's attention. In January earlier this year, Tesla investor Sawyer Meritt highlighted that while the <a href="https://www.benzinga.com/news/24/01/36813294/tesla-spends-less-than-apple-on-r-d-in-2023-says-investor-elon-musk-hails-gigantic-differences-in-ef">EV giant spent almost $4 billion in FY23</a>, Apple and Microsoft invested $29.92 billion and $27.2 billion, respectively.&nbsp;
At the time, the Tesla CEO said, &#8220;There are gigantic differences in the effectiveness of R&amp;D spending between companies.&#8221;
Apple's newly unveiled iPad Pro features the M4 chip and OLED display. On the other hand, and iPad Air, now comes in two sizes, for the first time since its existence. 
The new iPad Pro has a starting price of $999 for 11-inch and $1,299 for the 13-inch model. Similarly, iPad Air 6 starts at $599 and $799, for 11-inch and 13-inch models, respectively.&nbsp;
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/05/38661242/elon-musks-grok-generates-summary-of-an-entire-apple-event-that-has-yet-to-take-place-x-user-wants-t">Elon Musk&#8217;s Grok Generates Summary Of An Entire Apple Event That Has Yet To Take Place, X User Wants To Know If MKBHD Will Now &#8216;Murder&#8217; The AI Chatbot</a>

AAPL

Elon Musk Isn't Sure Apple's Showed Its Entire $30B R&D Prowess With New iPads: 'Maybe They Have Some Secret Products…'

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has expanded its Apple Pencil lineup, offering four distinct models with varying features and compatibility. The new model was announced on Tuesday, at the &#8220;Let Loose&#8221; event.
What Happened: The new model offers several unique features, including a barrel roll, a squeeze feature, haptic feedback, and Find My support. It is compatible with the M4 13-inch iPad Pro, M4 11-inch iPad Pro, M2 13-inch iPad Air, and M2 11-inch iPad Air, <a href="https://appleinsider.com/articles/24/05/07/apple-pencil-buyers-guide----which-of-the-four-models-works-with-your-ipad">reported</a> AppleInsider.
The Apple Pencil Pro is priced at $129, the same as the second-generation Apple Pencil, and can be financed through the Apple Card.
 The four Apple Pencil models are: Apple Pencil Pro: The latest addition to the lineup, it introduces new features such as a barrel roll, squeeze gesture, haptic feedback, and Find My support. It is priced at $129 and is compatible with the M4 13-inch iPad Pro, M4 11-inch iPad Pro, M2 13-inch iPad Air, and M2 11-inch iPad Air. Apple Pencil 2nd Generation: This model, introduced in November 2018, features magnetic attachment for wireless pairing and charging, tilt and pressure sensitivity, and the double-tap feature. It is also priced at $129 and is compatible with the 12.9-inch iPad Pro (3rd to 6th generation), 11-inch iPad Pro (1st to 4th generation), iPad Air (4th and 5th generation), and iPad mini (6th generation).
Apple Pencil USB-C: Released in November, this model complies with EU port standardization laws. It falls between the original Apple Pencil and the second-generation Apple Pencil in terms of functionality. It is available for $79 and is compatible with the same iPads as the Apple Pencil Pro, as well as the 12.9-inch iPad Pro (3rd to 6th generation), 11-inch iPad Pro (1st to 4th generation), iPad Air (4th and 5th generation), iPad mini (6th generation), and iPad (10th generation). 
Apple Pencil 1st Generation: This legacy model was introduced in 2015 and features a female Lightning connector for charging and pairing. It does not support Apple Pencil hover and does not connect to any iPad magnetically. It is priced at $99 and is compatible with the 12.9-inch iPad Pro (1st and 2nd generation), 10.5-inch iPad Pro, 9.7-inch iPad Pro, iPad Air (3rd generation), iPad mini (5th generation), and iPad (6th to 10th generation).
See Also: <a href="https://www.benzinga.com/news/24/05/38638286/tesla-investor-ross-gerber-calls-warren-buffett-tough-as-nails-businessman-after-berkshire-hathaway?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Investor Ross Gerber Calls Warren Buffett &#8216;Tough As Nails Businessman&#8217; After Berkshire Hathaway Dum</a>
Why It Matters: The introduction of these new Apple Pencil models comes on the heels of several other significant developments in Apple&#8217;s product lineup. In April, it was reported that the <a href="https://www.benzinga.com/news/24/04/38195315/apple-pencil-3-could-introduce-a-squeeze-of-innovation-with-multiple-gesture-controls">Apple Pencil 3</a> could feature multiple squeeze gestures, potentially improving the user experience. 
In March, it was reported that the <a href="https://www.benzinga.com/news/24/03/37926450/apple-vision-pro-could-soon-support-apple-pencil-allowing-air-drawing-to-become-reality">Apple Vision Pro</a> could soon support the Apple Pencil, allowing air drawing to become a reality. In February, it was reported that the Apple Pencil could get its <a href="https://www.benzinga.com/news/24/02/37262169/is-apple-pencil-set-to-get-its-biggest-upgrade-ever-new-patent-reveals-interchangeable-sleeves">biggest upgrade ever</a>, with the introduction of interchangeable sleeves.
Apple at the &#8220;Let Loose&#8221; event launched the <a href="https://www.benzinga.com/news/24/05/38673436/apple-launches-ipad-pro-with-m4-chip-oled-display-at-999-ipad-air-6-now-comes-in-two-sizes-for-the-f">iPad Pro with an M4 chip and OLED display</a> at $999, and the iPad Air 6 in two screen sizes for the first time.
Price Action: Apple Inc. is priced at $182.40, showing a gain of 0.38% on Tuesday&#8217;s close. However, it is down 1.75% year-to-date, according to the data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/05/38660790/is-apple-back-in-the-ev-game-tech-giant-reportedly-eyes-rivian-partnership?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Is Apple Back In The EV Game? Tech Giant Reportedly Eyes Rivian Partnership</a>
Image Via Shutterstock 
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

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Matinas BioPharma Hldgs Stock (AMEX:MTNB), Short Interest Report

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