Orion Diversified Holding Stock (OTC: OODH)

Orion Diversified Holding (OTC:OODH) Stock, Quote.Headers.trade-ideas

Orion Diversified Holding Co Inc is engaged in the production of oil and gas properties in the Permian Basin of West Texas. It also owns a 4.25-acre property in the Ten Mile Gold Mining District of Nevada.

ORION DIVERSIFIED HLD CO by Orion Diversified Holding Co Inc.

Orion Diversified Holding Co Inc

Orion Diversified Holding Co Inc Class A

Loar intends to use the net proceeds from this offering for repayment of borrowings outstanding under its credit agreement and, to the extent of any remaining proceeds, for general corporate purposes, including working capital. Loar will not receive any of the proceeds from the sale of common stock offered by the selling stockholders, including any common stock sold pursuant to any exercise by the underwriters of their option to purchase additional shares.

News

LOAR

Reported Earlier, Loar Prices Upsized Public Offering 5.75M Common Shares At $85/Share

The Company intends to use the net proceeds from the offerings for working capital and general corporate purposes. With the anticipated net proceeds, combined with existing cash reserves, the Company expects to have sufficient resources to continue advancing the development of its quantum technologies, including not only the initial buildout but also the potential expansion of its U.S.-based thin film lithium niobate (TFLN) Photonic Chip Foundry in Tempe, Arizona, which remains on track for completion in Q1 2025.

QUBT

Quantum Computing Unveils $50M Dual Offerings Featuring 1.54M Common Shares Priced At $5 Each

Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) has taken a sharp U-turn this week amid the broader cryptocurrency market&#8217;s decline, but that hasn&#8217;t deterred optimists.
What happened: The dog-themed meme coin has descended as much as 19% this week from the 7-day peak of $0.48. The downturn has been precipitated by Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) flash crash on Monday.
Widely followed cryptocurrency analyst Trader Tardigrade observed that DOGE was oscillating between the oversold and overbought zones on the macro chart and that the cycle top was still a long way away.
&#8220;DOGE has just left the oversold zone and is now heading to the overbought zone, which is projected linearly at around $8 to $10,&#8221; the analyst stated. &#8220;I consider this is the top of this cycle.&#8221;
Trader Tardigrade projected that after the top, DOGE could fall to the support zone of $0.8 to $1.8, which could be an entry point for the next cycle.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> has been bouncing between the Oversold and Overbought Zones on macro chart &#x1f525;<a href="https://twitter.com/search?q=%24Doge&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$Doge</a> has just left the oversold zone and is now heading to the overbought zone, which is projected linearly at around $8 to $10. I consider this is the top of this cycle. The next floor price… <a href="https://t.co/LiOIuZaX63">pic.twitter.com/LiOIuZaX63</a>
&mdash; Trader Tardigrade (@TATrader_Alan) <a href="https://twitter.com/TATrader_Alan/status/1866111567793934778?ref_src=twsrc%5Etfw">December 9, 2024</a></blockquote>
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Another technical analyst with a sizable X following Charting Guy projected that the DOGE&#8217;s choppy movement would end in the next 10 days and the next breakout would propel it to all-time highs.
&#8220;IMO, we are in the final moments to accumulate alts at decent prices; don't let the blood scare you, get greedy,&#8221; the trader said.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a> last cycle fractal update&#x203c;&#xFE0F; consolidation/chop should be over within 10 days or so if we continue to follow this next move should take us to ATH&#x1f4c8; imo, we are in the final moments to accumulate alts at decent prices, don't let the blood scare you, get greedy <a href="https://t.co/RLRAKO6sTl">https://t.co/RLRAKO6sTl</a> <a href="https://t.co/hkqDydCVGB">pic.twitter.com/hkqDydCVGB</a>
&mdash; Charting Guy (@ChartingGuy) <a href="https://twitter.com/ChartingGuy/status/1866519672637563092?ref_src=twsrc%5Etfw">December 10, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42382883/ark-invests-cathie-wood-hails-bitcoins-100k-climb-as-a-big-deal-labels-apex-crypto-as-gold-substitute-and-emerging-reserve-currency">Ark Invest&#8217;s Cathie Wood Hails Bitcoin&#8217;s $100K Climb As A &#8216;Big Deal,&#8217; Labels Apex Crypto As Gold Substitute And Emerging Reserve Currency</a>
Why It Matters: This bullish remark contradicted signals from some well-known technical indicators of the cryptocurrency.
The Moving Average Convergence Divergence indicator flashed a &#8220;Sell&#8221; signal as of this writing, per <a href="https://in.tradingview.com/symbols/DOGEUSD/technicals/">data </a>from TradingView.
The MACD compares two exponential moving averages of an asset&#8217;s price to show the trend&#8217;s momentum.
Similarly, the Momentum indicator, which compares the current price with the previous price from several periods ago, indicated a bearish sentiment.
In the last 24 hours, the balance of long-term DOGE holders declined by 0.88%, <a href="https://app.intotheblock.com/">according </a>to IntoTheBlock, suggesting that they were selling aggressively. 
Price Action: At the time of writing, Dogecoin was exchanging hands at $0.3901, down 3.38% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. 
Image via Shutterstock
Read Next: 
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<li><a href="https://www.benzinga.com/24/12/42429033/xrp-surpasses-bitcoin-ethereum-with-286-monthly-gains-as-whale-deposits-hit-highest-levels-since-april">XRP Trumps Bitcoin And Ethereum With 286% Monthly Gains As Whale Deposits Hit Highest Levels Since April: Here&#8217;s What You Should Know</a></li>
</ul>

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

Cryptocurrency

Markets

$BTC

$DOGE

$ETH

DOGE

Fidelity Ethereum Fund Fidelity Ethereum Fund

FETH

IBIT

Dogecoin's Cycle Peak Projected $8-10 By Top Trader Amid Pullback, But Here's Why You Should Be Careful

Two combination vaccine candidates for prevention of influenza and COVID-19 granted Fast Track designation in the US
<ul>
<li>First non-mRNA combination vaccine candidates that include two already licensed vaccines to prevent influenza and COVID-19 infections</li>
<li>Two phase 1/2 clinical studies are ongoing to evaluate the safety profile and immune response induced by the combination vaccine candidates&nbsp;</li>
</ul>

Sanofi's Dual Influenza-COVID-19 Vaccines Receive FDA Fast Track Designation For Individuals 50 Years Of Age And Older

<ul>
<li>Multinational Phase III study is evaluating leniolisib tablets in children aged 4 to 11 years with APDS, a rare primary immunodeficiency</li>
<li>Data consistent with the improvements seen in the previously reported randomized controlled trial in adolescent and adult APDS patients</li>
<li>Global regulatory filings planned to begin in 2025</li>
</ul>

PHAR

Pharming's Phase III Study Highlights Leniolisib's Potential To Transform Treatment For Pediatric APDS Patients (Ages 4-11)

General Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) said on Tuesday that it will <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42425386/general-motors-stock-is-rising-after-the-bell-whats-driving-the-action">no longer fund</a> Cruise&#8216;s robotaxi development but will instead combine the majority-owned unit into its technical teams, to the annoyance of Cruise co-founder Kyle Vogt.
What Happened: The robotaxi development work needs considerable time and resources to scale, GM reasoned, while adding that the robotaxi market is getting increasingly competitive
"GM is committed to delivering the best driving experiences to our customers in a disciplined and capital efficient manner," said Mary Barra, chair and CEO of GM. "Cruise has been an early innovator in autonomy, and the deeper integration of our teams, paired with GM's strong brands, scale, and manufacturing strength, will help advance our vision for the future of transportation."
GM will now focus on developing its driver assistance technology called Super Cruise which requires active driver supervision, the company said. 
Industry Leaders React: &#8220;Achieving a general solution to autonomy is a very hard problem, especially doing so without making the car super expensive,&#8221; Tesla CEO Elon Musk said about GM&#8217;s decision. Tesla is aiming to enable autonomous driving with future versions of its full self-driving (FSD) driver assistance software. 
&#8220;In case it was unclear before, it is clear now: GM are a bunch of dummies,&#8221; Kyle Vogt, co-founder of Cruise and former CEO, said in a post on social media platform X. Vogt left the company after the involvement of one of Cruise&#8217;s robotaxis in an accident in San Francisco in October 2023.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">In case it was unclear before, it is clear now: GM are a bunch of dummies.
&mdash; Kyle Vogt (@kvogt) <a href="https://twitter.com/kvogt/status/1866612270815494639?ref_src=twsrc%5Etfw">December 10, 2024</a></blockquote>
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Timeline: Cruise, until the accident, was a major robotaxi player in the U.S. in the leagues of Alphabet Inc&#8217;.s Waymo. However, the accident led to increased regulatory scrutiny and the company subsequently suspended all of its operations in the U.S.
The company&nbsp;<a href="https://www.benzinga.com/news/24/04/38155753/cruise-back-on-phoenix-roads-soon-gms-self-driving-unit-reportedly-gears-up-to-resume-robotaxi-testi" target="_blank" rel="noreferrer noopener">resumed driving its robotaxis with a human driver in the city of Phoenix</a>&nbsp;to gather road information earlier this year in April and in Houston and Dallas, Texas in June.
In July, the company also said that it is abandoning its plans to build the Origin autonomous vehicle and instead focussing on&nbsp;<a href="https://www.benzinga.com/news/24/07/39903020/gms-cruise-abandons-pedal-less-origin-autonomous-vehicle-pivots-to-next-generation-chevrolet-bolt-in" target="_blank" rel="noreferrer noopener">using its next-generation Chevrolet Bolt&nbsp;</a>for autonomous driving operations, citing costs and the &#8220;regulatory uncertainty&#8221; around the Origin pedal-less vehicle. 
However, hopes re-emerged briefly when Barra said in October that Cruise is <a href="https://www.benzinga.com/markets/equities/24/10/41481122/gm-working-hard-to-resume-driverless-cruise-vehicles-by-end-of-year-says-ceo-mary-barra-we-want-">looking to return to operating driverless vehicles</a> by the end of the year.
Why It Matters: GM currently owns about 90% of Cruise. The company said on Tuesday that it has plans with other shareholders of the company to raise this to 97% by acquiring shares. 
Following the process, the company said it would work with Cruise to restructure its operations, provided it receives Cruise&#8217;s board approval. The automaker expects the restructuring to lower costs by more than $1 billion annually once completed, which is expected to be done in the first half of 2025.
Cruise posted an operating loss of $2.067 billion in the nine months through the end of September. The parent company also spent $583 million on restructuring Cruise this year.
Check out more of Benzinga'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 Next:
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<li><a href="https://www.benzinga.com/24/12/42405564/tim-kuniskis-to-return-to-lead-ram-trucks-days-after-stellantis-ceos-departure-report" target="_blank" rel="noreferrer noopener">Tim Kuniskis To Return To Lead Ram Trucks Days After Stellantis CEO's Departure: Report</a></li>
</ul>
Photo courtesy: GM

Tech

GM's Cruise Exit Draws Sharp Reaction From Co-Founder Kyle Vogt: Tesla CEO Elon Musk Says Autonomous Driving Is A 'Very Hard Problem'

Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) CEO David Solomon said on Tuesday that the investment banking giant might explore becoming a spot market maker for leading cryptocurrencies if more regulatory clarity is provided.
What happened: At the Reuters NEXT event, Solomon stated that the firm's ability to participate in spot trading for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) was "extremely limited" from a regulatory point of view.
"You have to ask regulators because, at the moment, as a regulated banking institution, and I think you know this, we&#8217;re not allowed to own a cryptocurrency like Bitcoin as a principal," the CEO said.
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Solomon acknowledged the broader sentiment that the regulatory framework vis-à-vis digital assets might evolve in the incoming Donald Trump administration but added that it's still "unclear" as to how it'd evolve.
However, he said that if the regulatory framework changes, the firm would "evaluate" making markets in Bitcoin and Ethereum.
&#8220;If, from a regulatory perspective, we were allowed to interact in these assets, we have a pretty big infrastructure."
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42382883/ark-invests-cathie-wood-hails-bitcoins-100k-climb-as-a-big-deal-labels-apex-crypto-as-gold-substitute-and-emerging-reserve-currency">Ark Invest&#8217;s Cathie Wood Hails Bitcoin&#8217;s $100K Climb As A &#8216;Big Deal,&#8217; Labels Apex Crypto As Gold Substitute And Emerging Reserve Currency</a>
Why It Matters: Goldman Sachs began <a href="https://www.benzinga.com/24/11/42029764/global-banks-jp-morgan-goldman-sachs-add-to-bitcoin-ethere-etf-positions-in-q3-morgan-stanley-increases-microstrategy-stake-to-16b">investing in spot exchange-traded funds </a>tied to Bitcoin and Ethereum this year, with the latest 13F filing revealing significant positions.&nbsp;
The bank disclosed $710 million invested across multiple Bitcoin ETFs, with a stake of 12.7 million shares valued at $461 million in iShares Bitcoin Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>).&nbsp;
It also holds $25.16 million in Ethereum ETFs, split between Grayscale Ethereum Mini Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETH#NYSE">ETH</a>) and Fidelity Ethereum Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FETH#BATS">FETH</a>).
The firm was also betting <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42047066/goldman-sachs-to-spin-out-digital-assets-platform-amid-blockchain-push">big on its blockchain business</a>, planning to spin out its digital assets platform into an independent company within the next 12 to 18 months.
Price Action: Shares of Goldman Sachs were up 0.19% in after-hours trading after closing down 1.53% during Tuesday's regular session, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42405504/dogecoin-can-touch-18-if-things-go-wild-says-influential-crypto-trader-thankful-for-the-dip-and-will-buy-more">Dogecoin Can Touch $18 If Things &#8216;Go Wild,&#8217; Says Influential Crypto Trader: &#8216;Thankful For The Dip And Will Buy More&#8217;</a></li>
</ul>

Goldman Sachs CEO Says Bank Can Consider Bitcoin, Ethereum Spot Trading If Regulations Allow

OpenAI CEO Sam Altman praised Robinhood Markets Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) new Gold credit card for its design quality, on Tuesday, adding to the growing buzz around the fintech <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38713973/robinhood-q1-earnings-highlights-revenue-beat-eps-beat-over-1-million-on-gold-credit-card-">company&#8217;s latest product offering</a>.
What Happened: &#8220;A few months ago Robinhood sent me a gold credit card with extremely high-quality details,&#8221; Altman wrote on X. &#8220;I thought it was a ridiculous marketing stunt at the time but now it&#8217;s an example I give when talking about great design.&#8221;
The endorsement comes as Robinhood&#8217;s credit card initiative has already attracted over <a href="https://www.benzinga.com/partner/fintech/24/05/38581631/1-million-users-join-the-waitlist-for-robinhoods-new-gold-credit-card-within-a-month-whats-behind">one million waitlist sign-ups</a> within its first month of announcement. The card, which launched in March, offers an industry-leading 3% cash back on all purchases with no annual fees or foreign transaction fees.
Robinhood CEO Vlad Tenev, who responded to Altman&#8217;s praise on X, said, &#8220;thanks, o1 is pretty nice also,&#8221; Tenev previously told CNBC that the Gold Card is part of a broader strategy to expand the <a href="https://www.benzinga.com/news/24/03/37964253/robinhood-aims-to-make-gold-membership-a-no-brainer-with-3-cash-back-card-vlad-tenev-says">company&#8217;s financial services ecosystem</a>.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">a few months ago robinhood sent me a gold credit card with extremely high-quality details. i thought it was a ridiculous marketing stunt at the time but now it's an example i give when talking about great design. <a href="https://t.co/v0VWyJK7PT">pic.twitter.com/v0VWyJK7PT</a>
&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1866517449589621082?ref_src=twsrc%5Etfw">December 10, 2024</a></blockquote>
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&#8220;Robinhood Gold customers are much more likely to adopt all of our other products, their balances with us are higher, and their average revenue per user is multiples of a non-Gold customer,&#8221; Tenev said.
See Also: <a href="https://www.benzinga.com/markets/equities/24/12/42428726/jim-cramer-id-be-a-buyer-after-oracle-earnings-dip-but-will-take-something-off-the-table-on-c3-ai-rally">Jim Cramer: &#8216;I&#8217;d Be A Buyer&#8217; After Oracle Earnings Dip, But Will &#8216;Take Something Off The Table&#8217; On C3.ai Rally</a>
What Happened: The card&#8217;s physical design features stainless steel construction weighing 17 grams, making it one of the heaviest metal cards available. Select members can <a href="https://www.benzinga.com/partner/fintech/24/05/38581631/1-million-users-join-the-waitlist-for-robinhoods-new-gold-credit-card-within-a-month-whats-behind">qualify for a 10-karat gold version</a>.
The credit card launch comes at an opportune time, as a recent J.D. Power <a href="https://www.benzinga.com/partner/fintech/24/05/38581631/1-million-users-join-the-waitlist-for-robinhoods-new-gold-credit-card-within-a-month-whats-behind">survey indicated growing consumer dissatisfaction</a> with traditional credit card rewards programs. 
Robinhood&#8217;s stock trades near its 52-week range of $10.38 to $42.76, with a premium price-to-earnings ratio of 68.17. The stock has a market cap of $33.17 billion and an RSI of 58. It declined 5.51% to $37.36, with a modest after-hours recovery to $37.52, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/trading-ideas/movers/24/12/42428327/bitcoin-ethereum-dogecoin-mirror-stock-declines-ahead-of-crucial-inflation-data-release-top-analyst-says-buy-the-dip-predicts-275k-btc-target-2">Bitcoin, Ethereum, Dogecoin Mirror Stock Declines Ahead Of Crucial Inflation Data Release: Top Analyst Says &#8216;Buy The Dip,&#8217; Predicts $275K BTC Target</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

HOOD

Sam Altman Once Thought Robinhood's Gold Credit Card Was A 'Ridiculous Marketing Stunt,' But Now He Likes It — What Changed The OpenAI CEO's Mind?

The Future Fund LLC Managing Partner Gary Black highlighted on Tuesday that General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) is abandoning its robotaxi ambitions to save $1 billion annually, marking a significant <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42425386/general-motors-stock-is-rising-after-the-bell-whats-driving-the-action">shift in the autonomous vehicle race</a>.
What Happened: &#8220;Cruise and GM&#8217;s technical teams will be combined into a single effort focused on developing autonomous and advanced driver safety technology for future models sold by GM,&#8221; Black wrote on X, noting the strategic realignment of GM&#8217;s autonomous driving efforts.
Black, a prominent Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) bull, emphasized GM&#8217;s decision to exit robotaxi development &#8220;given the considerable time and resources that would be needed to scale the business, along with an increasingly competitive robotaxi market.&#8221;
&#8220;The move could clear the way for GM to begin licensing TSLA's full-self-driving technology,&#8221; Black wrote on X. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24GM&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GM</a> Cruise will exit the robotaxi business, a move that will save <a href="https://twitter.com/search?q=%24GM&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GM</a> $1B/year in annual costs. Cruise and GM's technical teams will be combined into a single effort focused on developing autonomous and advanced driver safety technology for future models sold by GM. GM said it…
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1866603630171934933?ref_src=twsrc%5Etfw">December 10, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/equities/24/12/42428726/jim-cramer-id-be-a-buyer-after-oracle-earnings-dip-but-will-take-something-off-the-table-on-c3-ai-rally">Jim Cramer: &#8216;I&#8217;d Be A Buyer&#8217; After Oracle Earnings Dip, But Will &#8216;Take Something Off The Table&#8217; On C3.ai Rally</a>
Why It Matters: The move comes after Cruise suspended operations following an October incident where one of its vehicles dragged and injured a pedestrian. GM plans to increase its ownership in Cruise from 90% to 97% <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42425386/general-motors-stock-is-rising-after-the-bell-whats-driving-the-action">through shareholder agreements</a>.
&#8220;GM is committed to delivering the best driving experiences to our customers in a disciplined and capital efficient manner,&#8221; said GM CEO Mary Barra in a company statement. The automaker will now focus on expanding its Super Cruise driver assistance system, currently available in more than 20 vehicle models.
The retreat from robotaxis comes as Alphabet Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Waymo expands its autonomous taxi service to more cities and Tesla targets a 2026 launch for its robotaxi business. The decision follows industry peers Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) and Volkswagen AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>), who <a href="https://www.benzinga.com/news/22/11/29818363/ford-and-volkswagen-folded-argo-ai-after-failing-to-reach-deal-with-amazon">shuttered their self-driving venture</a> Argo AI in 2022.
Price Action: General Motors&#8217; stock closed at $52.74 on Tuesday, up 0.057%. In after-hours trading, the stock rose by 2.20%, to $53.90. Year to date, the stock has gained 46.30%.
According to <a href="https://www.benzinga.com/quote/GM/analyst-ratings">data from Benzinga Pro</a>, General Motors has a consensus price target of $56.10 from 24 analysts, with a high of $96 and a low of $28. The three most recent ratings from Morgan Stanley, Mizuho, and Bernstein suggest an average price target of $57, indicating a potential upside of 5.75%.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/10235011/Screenshot-2024-12-11-at-10.19.23%E2%80%AFAM-1024x377.png" alt="" class="wp-image-686519" /></figure>
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Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

GOOG

GOOGL

TSLA

VWAGY

Robotaxi Exit To 'Clear The Way' For GM To License Tesla FSD, Says Gary Black — Move Will Save The Mary Barra-Led Company $1B A Year

Macro Economic Events

Econ #s

Economics

BBJP

WisdomTree Trust Japan Total Dividend Fund

Reported Earlier, Japan BSI Large Manufacturing Conditions For Q4 6.3 Vs. 1.8 Est.; 4.5 Prior

The CNN Money Fear and Greed index showed a slight decline in the overall market sentiment, while the index remained in the &#8220;Neutral&#8221; zone on Tuesday.
U.S. stocks settled lower on Tuesday, with the Dow Jones index recording losses for the fourth straight session.
Oracle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) posted weaker-than-expected earnings and sales results for its second quarter on Monday. Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) shares surged 5.6% following the unveiling of Google&#8217;s quantum computing chip.
On the economic data front, U.S. nonfarm business sector labor productivity increased by 2.2% in the third quarter, which is in line with the preliminary reading.
Most sectors on the S&amp;P 500 closed on a negative note, with real estate, information technology, and materials stocks recording the biggest losses on Tuesday. However, communication services and consumer staples stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 154 points to 44,247.83 on Tuesday. The S&amp;P 500 fell 0.30% to 6,034.91, while the Nasdaq Composite dipped 0.25% to close at 19,687.24 during Tuesday's session.
Investors are awaiting earnings results from Macy&#8217;s, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>), Adobe Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>), and Nordson Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDSN#NASDAQ">NDSN</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 48.5, the index remained in the &#8220;Neutral&#8221; zone on Tuesday, versus a prior reading of 48.9.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
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Photo courtesy: Shutterstock

Earnings

Pre-Market Outlook

Trading Ideas

ADBE

NDSN

ORCL

Dow Falls For 4th Straight Session, Alphabet Surges On Google Quantum Chip Announcement: Fear & Greed Index Remains In 'Neutral' Zone

With U.S. stock futures trading slightly higher this morning on Wednesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Macy&#8217;s, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) to report a quarterly loss at 1 cent per share on revenue of $4.72 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Macy&#8217;s shares fell 0.1% to $16.71 in after-hours trading.</li>
<li>Stitch Fix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFIX#NASDAQ">SFIX</a>) reported better-than-expected first-quarter earnings and sales results on Tuesday. Stitch Fix shares climbed 21.7% to $5.60 in the after-hours trading.</li>
<li>Analysts expect Adobe Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) to post quarterly earnings at $4.66 per share on revenue of $5.54 billion. The company will release earnings after the markets close. Adobe shares climbed 0.2% to $547.98 in the after-hours trading session.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Dave &amp; Buster&#8217;s Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLAY#NASDAQ">PLAY</a>) reported worse-than-expected third-quarter EPS and sales results on Tuesday. The company also announced that CEO Chris Morris handed in his resignation to pursue other interests. The board said it has been working with a global executive search firm in recent months to assist in identifying the company's next permanent CEO. Dave &amp; Buster&#8217;s shares dipped 11.2% to $32.67 in the after-hours trading session.</li>
<li>Analysts expect Nordson Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDSN#NASDAQ">NDSN</a>) to post quarterly earnings at $2.59 per share on revenue of $736.35 million after the closing bell. Nordson shares fell 1% to close at $252.87 on Tuesday.</li>
</ul>
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<li><a href="https://www.benzinga.com/24/12/42412075/jim-cramer-says-he-is-not-a-fan-of-novavax-this-tech-stock-is-very-expensive">Jim Cramer Is &#8216;Not A Fan&#8217; Of Novavax, Says This Tech Stock Is &#8216;Expensive&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

PLAY

SFIX

Macy's, Adobe And 3 Stocks To Watch Heading Into Wednesday

XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) rallied sharply on Tuesday, becoming the biggest gainer among the top 10 cryptocurrencies by market capitalization.
What Happened: The payments-focused coin lifted over 9% over the last 24 hours to $2.30, erasing afternoon losses that saw it dip to $1.92. The coin&#8217;s trading volume soared 22% to $25 billion, emerging as the third-most traded speculative cryptocurrency. 
The rally outshone returns by higher market cap coins such as Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)
See Also: <a href="https://www.benzinga.com/24/12/42428663/crypto-mogul-justin-suns-cheeky-dig-at-microsofts-bitcoin-strategy-rejection-i-highly-recommend-buying-it-when-btc-reaches-1m">Justin Sun&#8217;s Takes A Cheeky Dig At Microsoft For Rejecting Bitcoin Strategy: &#8216;Highly Recommend Buying It When BTC reaches $1M&#8217;</a>
XRP has been one of the star performers of the ongoing cryptocurrency market bull run, skyrocketing as much as 286% over the past month.
Accordingly, large holders, or &#8220;whales,&#8221; have significantly increased their activity around the coin. 
Over the past 30 days, more than 2.66 billion XRP tokens have been moved to cryptocurrency exchange Binance, the highest since April, per on-chain analytics firm CryptoQuant.
&#8220;Whale deposits can often signal potential shifts in strategy, as these players have significant amounts of assets at their disposal,&#8221; JA Maartunn, noted analyst and CryptoQuant author said.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Exchange Flow (Whales) to Binance hit a 6-month high "Over the past 30 days, more than 2.66 billion <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$XRP</a> tokens have been moved to the exchange. This is the highest amount of <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> deposited by large holders since April 2024" – By <a href="https://twitter.com/JA_Maartun?ref_src=twsrc%5Etfw">@JA_Maartun</a> Link &#x1f447;<a href="https://t.co/sLtCfbdv1n">https://t.co/sLtCfbdv1n</a> <a href="https://t.co/VXDnUv9oTZ">pic.twitter.com/VXDnUv9oTZ</a>
&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1866566302761963807?ref_src=twsrc%5Etfw">December 10, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The coin&#8217;s bull run has hinged on Donald Trump&#8217;s presidential victory, cryptocurrency-friendly Paul Atkins <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42323248/trump-nominates-paul-atkins-as-sec-chair-emphasizing-digital-assets-as-key-to-making-america-greater">succeeding</a> Gary Gensler as SEC Chair, a slew of filings for XRP <a href="https://www.benzinga.com/24/12/42259460/xrp-beats-solana-to-become-4th-largest-crypto-by-market-cap-on-ripples-rlusd-approval-speculation" target="_blank" rel="noreferrer noopener">spot exchange-traded funds</a>, and the <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42423570/ripple-secures-nydfs-approval-for-rlusd-stablecoin-xrp-price-up-9">regulatory green light</a> for Ripple Labs&#8217; RLUSD stablecoin.
Price Action: At the time of writing, XRP was trading at $2.31, up 9.23% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
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Disclaimer:&nbsp;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.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

$XRP

XRP Trumps Bitcoin And Ethereum With 286% Monthly Gains As Whale Deposits Hit Highest Levels Since April: Here's What You Should Know

OpenAI CFO Sarah Friar has characterized President-elect Donald Trump as the &#8220;president of this AI generation,&#8221; while downplaying public threats from Elon Musk.
What Happened: During an interview at the Reuters NEXT conference in New York on Tuesday, Friar highlighted that Trump is taking office during a pivotal moment in the development of critical infrastructure for advancing artificial general intelligence.
She also addressed concerns about Musk, a close adviser to Trump, stating, &#8220;We trust him&#8230;as a competitor,&#8221; and expressed confidence that the Tesla CEO would prioritize national interests.
See Also: <a href="https://www.benzinga.com/media/24/12/42407739/trump-announces-plans-to-have-dinner-with-amazon-founder-jeff-bezos-as-billionaire-rivals-turn-unexpected-allies-after-years-of-clashes?itm_source=parsely-api">Trump Announces Plans To Have Dinner With Amazon Founder Jeff Bezos As Billionaire Rivals Turn Unexpected Allies After Years Of Clashes</a>
Friar, who joined OpenAI six months ago, also spoke about the demand for their new video generation tool, Sora. Account creation for Sora has been paused to ensure a measured release.
Why It Matters: Musk, who co-founded OpenAI, has been critical of its corporate restructuring. The tech mogul now leads xAI, a competitor to ChatGPT-parent.
Trump has also appointed Musk and Vivek Ramaswamy to lead the <a href="https://www.benzinga.com/24/11/42253427/elon-musks-doge-dream-team-from-marc-andreessen-to-ubers-travis-kalanick-silicon-valley-titans-join-forces-to-overhaul-federal-spending">Department of Government Efficiency</a>, which aims to cut federal spending by up to $2 trillion.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Earlier, OpenAI CEO Sam Altman also expressed <a href="https://www.benzinga.com/24/12/42334927/sam-altman-brushes-off-elon-musks-trump-ties-but-admits-xai-is-a-serious-threat-to-openai-i-may-turn-out-to-be-wrong-but">confidence in Musk&#8217;s integrity</a> despite his political ties. &#8220;I may turn out to be wrong, but I believe pretty strongly that Elon will do the right thing.&#8221;
Earlier this month, <a href="https://www.benzinga.com/tech/24/12/42257564/musk-goes-to-court-to-block-openais-for-profit-transition">Musk filed a court injunction</a> to block OpenAI&#8217;s shift to a for-profit organization. This legal action comes after Musk previously sued OpenAI, alleging that the company was placing commercial interests above its initial mission.
Meanwhile, OpenAI is <a href="https://www.benzinga.com/24/12/42382569/elon-musk-asks-was-it-ever-not-a-lie-as-he-accuses-openai-of-selling-out-to-microsoft-and-betraying-its-founding-mission">reportedly strengthening</a> its partnership with Microsoft Corporation. Previously it was reported that OpenAI&#8217;s board is considering removing a provision that currently limits Microsoft&#8217;s access to its AGI technology.
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Photo by Stephen McCarthy/MoneyConf via Sportsfile via Flickr Creative commons; OpenAI, Shutterstock
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<li><a href="https://www.benzinga.com/24/12/42381987/apple-faces-12b-lawsuit-for-dropping-csam-detection-while-google-and-meta-set-higher-standards-for-child-safety?itm_source=parsely-api">Apple Faces $1.2B Lawsuit Over Child Sexual Abuse Material Detection On iCloud — Tech Giant Says, &#8216;Urgently And Actively Innovating&#8217;</a></li>
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Media

OpenAI CFO Sarah Friar Calls Trump The 'President Of This AI Generation,' Downplays Elon Musk Concerns: 'We Trust Him… As A Competitor'

Jim Cramer urged investors on Tuesday to view Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) as a buying opportunity following its post-earnings decline, while cautioning against chasing C3.ai Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AI#NYSE">AI</a>) despite its recent strength.
What Happened: Oracle shares dropped 6.67% on Tuesday after the enterprise software giant reported <a href="https://www.benzinga.com/trading-ideas/technicals/24/12/42396746/oracles-q2-earnings-strong-chart-signals-but-watch-that-rsi">fiscal second-quarter earnings</a> that missed Wall Street expectations. The company posted adjusted earnings of $1.47 per share on revenue of $14.06 billion, falling short of analysts&#8217; estimates of $1.48 per share and $14.11 billion respectively.
&#8220;I&#8217;d be a buyer of Oracle after this pullback, because the most important parts of the business are still doing great,&#8221; Cramer <a href="https://www.cnbc.com/2024/12/10/jim-cramer-suggests-oracle-bought-on-weakness-c3ai-sold-into-strength.html">said</a> on CNBC. He attributed the miss to one-time issues, noting that Oracle&#8217;s core cloud infrastructure and AI businesses continue to show strong performance.
Oracle&#8217;s management reported that demand <a href="https://www.benzinga.com/news/earnings/earnings-misses/24/12/42425771/oracle-earnings-fallout-contrarian-opportunity">continues to outpace supply</a>, highlighting partnerships with prominent tech companies including OpenAI, xAI, Cohere, NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>).
See Also: <a href="https://www.benzinga.com/general/gaming/24/12/42425015/gamestop-q3-earnings-revenue-miss-4b-cash-no-more-offerings-planned-in-fiscal-year">GameStop Q3 Earnings: Revenue Miss, $4B+ Cash, No More Offerings Planned In Fiscal Year</a>
Why It Matters: However, Cramer expressed caution about C3.ai, which saw its stock rise initially after beating quarterly expectations before settling to a 0.12% gain. &#8220;If you own it, take something off the table,&#8221; he advised, citing concerns about the company&#8217;s revenue growth rate and continued losses.
The contrast between the two companies highlights the current market dynamics around AI stocks. While Oracle&#8217;s pullback represents an opportunity in a fundamentally strong business, Cramer suggested C3.ai&#8217;s rally might be driven more by AI enthusiasm than fundamentals.
RBC Capital Markets analyst Rishi Jaluria maintained a Sector Perform rating on <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42420091/oracle-shares-down-after-mixed-q2-results-spark-analyst-caution-guidance-fell-below-consensus">Oracle with a $165 price target</a>, noting that while third-quarter guidance was light, the company&#8217;s cloud revenue outlook remains strong at $25 billion for the full year.
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Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

NVDA

Jim Cramer: 'I'd Be A Buyer' After Oracle Earnings Dip, But Will 'Take Something Off The Table' On C3.ai Rally

Justin Sun, the founder of the&nbsp;TRON (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/trx/usd">TRX</a>) blockchain, threw a jibe on Tuesday at Microsoft&#8217;s decision not to consider adding Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) to its reserves, saying that it was motivated due to the leading cryptocurrency&#8217;s price not being &#8220;high enough.&#8221;
What happened: Sun took to X to express his views on the keenly monitored annual meeting of the tech giant. The shareholders <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42421374/microsoft-shareholders-reject-proposal-to-explore-bitcoin-investment">voted against a proposal</a> urging the company to study adding Bitcoin to its balance sheet.
&#8220;The Bitcoin price is just not high enough for Microsoft to consider it as a reserve,&#8221; the cryptocurrency mogul said in what looked like a cheeky dig. &#8220;I highly recommend buying it when Bitcoin reaches 1 million USD.
<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">The Bitcoin price is just not high enough for Microsoft to consider it as a reserve. I highly recommend buying it when Bitcoin reaches 1 million USD. <a href="https://t.co/mtJKtLl97C">https://t.co/mtJKtLl97C</a>
&mdash; H.E. Justin Sun &#x1f34c; (@justinsuntron) <a href="https://twitter.com/justinsuntron/status/1866591980257722592?ref_src=twsrc%5Etfw">December 10, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Sun has been one of Bitcoin&#8217;s early believers, buying into the asset back in 2013. He remains one of the largest publicly known cryptocurrency investors, boasting a portfolio worth nearly $2 billion,&nbsp;per <a href="https://platform.arkhamintelligence.com/explorer/entity/justin-sun" target="_blank" rel="noreferrer noopener">data&nbsp;</a>from Arkham Intelligence.
<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 entered Bitcoin in 2013 and it&#39;s been 11 years. I&#39;ve seen three bull and bear cycles: 2013, 2017, and 2021. In Tron memes, I&#39;ve also seen three cycles, but in just 19 days. Lesson learned: if you can&#39;t hold, you can&#39;t win.
&mdash; H.E. Justin Sun &#x1f34c; (@justinsuntron) <a href="https://twitter.com/justinsuntron/status/1829780922314719426?ref_src=twsrc%5Etfw">August 31, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Anthony Pompliano, founder and CEO of Professional Capital Management and a Bitcoin advocate, also took potshots at Microsoft&#8217;s decision, saying, &#8220;Bitcoin doesn&#8217;t care about Microsoft, but eventually Microsoft will care about Bitcoin.&#8221;
<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">Bitcoin doesn&#39;t care about Microsoft, but eventually Microsoft will care about bitcoin.
&mdash; Anthony Pompliano &#x1f32a; (@APompliano) <a href="https://twitter.com/APompliano/status/1866543644561310181?ref_src=twsrc%5Etfw">December 10, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42382883/ark-invests-cathie-wood-hails-bitcoins-100k-climb-as-a-big-deal-labels-apex-crypto-as-gold-substitute-and-emerging-reserve-currency">Ark Invest&#8217;s Cathie Wood Hails Bitcoin&#8217;s $100K Climb As A &#8216;Big Deal,&#8217; Labels Apex Crypto As Gold Substitute And Emerging Reserve Currency</a>
Why It Matters: Microsoft&#8217;s board expressed concerns over Bitcoin&#8217;s volatility and wanted to maintain its focus on stable and predictable investments.
A proposal in October <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41536822/microsoft-shareholders-want-it-to-buy-bitcoin-say-microstrategy-shares-outperformed">urged the board to evaluate the benefits </a>of a corporate Bitcoin strategy, one on the lines of Michael Saylor&#8217;s MicroStrategy, the biggest corporate holder of the digital asset. In fact, Saylor himself <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42259408/michael-saylor-says-bitcoin-could-boost-microsofts-valuation-by-nearly-5-trillion-and-add-584-to-the-stock-by-2034">explained the pros</a> of such a move in a 3-minute presentation earlier this month.
Price Action: As of this writing, Bitcoin was trading at $96,148.94, down 1.82% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 
Photo Courtesy: Wikimedia Commons
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42405504/dogecoin-can-touch-18-if-things-go-wild-says-influential-crypto-trader-thankful-for-the-dip-and-will-buy-more">Dogecoin Can Touch $18 If Things &#8216;Go Wild,&#8217; Says Influential Crypto Trader: &#8216;Thankful For The Dip And Will Buy More&#8217;</a></li>
</ul>

$TRX

Justin Sun's Takes A Cheeky Dig At Microsoft For Rejecting Bitcoin Strategy: 'Highly Recommend Buying It When BTC reaches $1M'

Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google has reportedly requested the U.S. Federal Trade Commission to dismantle Microsoft Corporation&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) exclusive agreement to host OpenAI&#8217;s technology on its cloud servers
What Happened: This request came after the FTC inquired with Google regarding <a href="https://www.benzinga.com/news/legal/24/11/42229225/microsoft-faces-federal-investigation-into-cloud-and-ai-practices-amid-antitrust-scrutiny-report">Microsoft's business practices</a> as part of a larger investigation, reported Reuters citing The Information.
Tech giants like Google and Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) are keen to host OpenAI&#8217;s models.
However, they argue that Microsoft&#8217;s exclusive deal forces cloud customers to rely on Microsoft servers, potentially incurring additional costs, the report noted.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Google and Microsoft did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga's</a> request for comments.
Why It Matters: The <a href="https://www.benzinga.com/24/12/42359072/sundar-pichai-takes-a-jab-at-microsofts-ai-efforts-theyre-using-someone-elses-models-doubling-down-on-googles-innovation-power">tension between Google and Microsoft</a> over AI dominance has been brewing for some time.
Earlier this year during an antitrust case against Google, an internal email from Microsoft revealed that the investment in OpenAI was driven by <a href="https://www.benzinga.com/news/24/05/38582364/microsofts-fear-of-googles-ai-dominance-led-to-openai-investment-internal-email-reveals-were-multipl">fears of lagging behind</a> Google&#8217;s AI capabilities.
In September 2024, <a href="https://www.benzinga.com/news/24/09/41025160/google-files-eu-complaint-against-microsoft-over-cloud-practices">Google filed a complaint</a> with the European Commission, alleging that Microsoft engaged in anti-competitive behavior within its cloud services sector.
The following month, <a href="https://www.benzinga.com/markets/equities/24/10/41592650/microsoft-accuses-google-of-astroturf-campaigns-targeting-its-cloud-business-says-search-giant-r">Microsoft retaliated by accusing</a> Google of conducting secret lobbying efforts aimed at disrupting its cloud computing operations.
Previously it was also reported that insiders at Microsoft have voiced worries that the company&#8217;s <a href="https://www.benzinga.com/news/24/03/37605368/is-microsoft-turning-into-it-for-openai-insiders-say-tech-giants-ai-strategy-is-overly-reliant-on-ch">AI strategy is overly dependent</a> on its partnership with OpenAI.
Photo Courtesy: Shutterstock.com
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/markets/equities/24/12/42378342/intel-stock-is-where-it-was-27-years-ago-how-the-worlds-leading-chipmaker-lost-the-plot-thrice?itm_source=parsely-api">Intel Stock Is Where It Was 27 Years Ago: How The World&#8217;s Leading Chipmaker Lost The Plot, Thrice</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Legal

AMZN

MSFT

Google Wants FTC To Dismantle Microsoft's Exclusive Cloud Hosting Deal With OpenAI: Report

Leading cryptocurrencies and stocks slumped for a second straight day on Tuesday as investors awaited the release of a key inflation report.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-1.87%</td>
<td>$96,200.49</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-4.59%</td>
<td>$3,601.65</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-3.92%</td>
<td>$0.3943</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin plunged to $94,300 in the early trading hours but pared losses by rebounding above $96,000 overnight.
Ethereum followed a similar trajectory, plunging from $3,750 to $3.522 before recouping some losses in the second half.
Cryptocurrency liquidations exceeded $625 million in the last 24 hours, with long liquidations accounting for $484 million.&nbsp;
Over $700 million in longs further risked liquidation if Bitcoin pulls back to $90,000. On the contrary, a spike to $100,000 would wipe out $719 million worth of short positions.
Bitcoin's Open Interest fell by 3.33% in the last 24 hours, while the number of traders longing the asset also fell, as evidenced by the drop in the Long/Short ratio.
Market sentiment remained in the "Greed" zone, as per the Cryptocurrency Fear &amp; Greed Index
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>XDC Network (XDC)</td>
<td>+19.52%</td>
<td>$0.09279</td>
</tr>
<tr>
<td>MANTRA (OM)</td>
<td>+14.73%</td>
<td>$4.04</td>
</tr>
<tr>
<td>Raydium (RAY)</td>
<td>+12.60%</td>
<td>$4.92</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.43 trillion, contracting by 0.80% over the last 24 hours.
Major stock averages closed in the red for the second straight day. The Dow Jones Industrial Average dropped 154.10 points, or 0.35%, to close at 44.247.83. The S&amp;P 500 slid 0.30%, ending at 6,034.91, while the tech-focused Nasdaq Composite dipped 0.25% to end at 19,687.24.
The decline came ahead of the crucial <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42423745/december-interest-rate-cut-is-almost-a-done-deal-could-wednesday-inflation-data-derail-investor-hopes">consumer price index data</a> for November, which is due on Wednesday, as investors sought hints ahead of the Federal Reserve&#8217;s policy decision next week.
Market participants expected an 85% chance of a 25 basis point rate cut, <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">according </a>to the CME FedWatch tool.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Influential cryptocurrency analyst and trader Ali Martinez stressed the importance of Bitcoin staying above $96,000 or risk falling to as low as $85,000
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I think it is very important for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> to hold above $96,000. Otherwise, we could repeat last year&#39;s pattern, with a potential drop to $85,000! <a href="https://t.co/xVOX41Fek0">pic.twitter.com/xVOX41Fek0</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1866447268447961325?ref_src=twsrc%5Etfw">December 10, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
He also advised his followers to buy the dip and avoid overleveraging, as he projected a price target of $275,000
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Buy the dip, and don&#39;t overleverage! <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> will reach $275,000, based on this cup and handle pattern! <a href="https://t.co/cqf99cBtmB">pic.twitter.com/cqf99cBtmB</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1866517510268330035?ref_src=twsrc%5Etfw">December 10, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Another widely followed trader, going by the pseudonym DevKhabib, anticipated another dip for Ethereum before a strong rally.
"We bounced off $3,500 strongly, but as we approach the 3-year trend line, I wouldn't be surprised to see another flush," the trader remarked. "After that, it's up only season, everything will pump."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We got a deviation below the trendline on <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>. We bounced off $3,500 strongly, but as we approach the 3 year trend line, I wouldn't be surprised to see another flush. After that it's up only season, everything will pump. <a href="https://t.co/uZUfogb4ZF">pic.twitter.com/uZUfogb4ZF</a>
&mdash; DevKhabib (@DevKhabib) <a href="https://twitter.com/DevKhabib/status/1866468029321847256?ref_src=twsrc%5Etfw">December 10, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42413650/michael-saylor-urges-us-to-ditch-gold-for-bitcoin-sell-the-past-own-the-future">Michael Saylor Urges US To Ditch Gold For Bitcoin: &#8216;Sell The Past, Own The Future&#8217;</a></li>
</ul>

Movers

Bitcoin, Ethereum, Dogecoin Mirror Stock Declines Ahead Of Crucial Inflation Data Release: Top Analyst Says 'Buy The Dip,' Predicts $275K BTC Target

Editorial Note: The previous version of this article was published with an incorrect headline. We have updated the headline to accurately reflect the content and context of the story.
President-elect Donald Trump has named Federal Trade Commission Commissioner Andrew Ferguson as his choice for FTC chair on Tuesday, potentially reshaping the agency&#8217;s approach to <a href="https://www.benzinga.com/24/11/41986592/microsoft-cloud-is-reportedly-ftc-lina-khans-next-target-investigation-centered-around-alleged-anticompetitive-behavior">tech regulation and antitrust enforcement</a>.
What Happened: Ferguson, who joined the FTC in April and previously served as Virginia&#8217;s solicitor-general and chief counsel to Senate Republican leader Mitch McConnell, would replace current Chair Lina Khan. 
Ferguson, responding to Trump&#8217;s announcement on X, pledged to &#8220;end Big Tech&#8217;s vendetta against competition and free speech&#8221; while promoting innovation. This stance suggests a potential shift from Khan&#8217;s aggressive enforcement approach, though Trump&#8217;s attorney general nominee Matt Gaetz has previously <a href="https://www.benzinga.com/24/11/41986592/microsoft-cloud-is-reportedly-ftc-lina-khans-next-target-investigation-centered-around-alleged-anticompetitive-behavior">supported Khan&#8217;s tech industry lawsuits</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">Thank you President Trump. Under your leadership, American businesses will become stronger and more competitive, and will better serve workers and consumers, than ever before. I'm honored that you've chosen me to be FTC Chairman in your mission to make our country great again.… <a href="https://t.co/GxmYWfjpqm">pic.twitter.com/GxmYWfjpqm</a>
&mdash; Andrew Ferguson (@AFergusonFTC) <a href="https://twitter.com/AFergusonFTC/status/1866641731892154546?ref_src=twsrc%5Etfw">December 11, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/news/global/24/12/42425695/biden-set-to-block-us-steel-sale-to-nippon-steel-report">Biden Set To Block US Steel Sale To Nippon Steel: Report</a>
Why It Matters: Under Khan&#8217;s leadership, the federal firm has aggressively targeted tech giants including Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), though it notably lost its bid to block Microsoft&#8217;s Activision Blizzard acquisition in 2022.
The announcement comes as the FTC pursues <a href="https://www.benzinga.com/24/11/41986592/microsoft-cloud-is-reportedly-ftc-lina-khans-next-target-investigation-centered-around-alleged-anticompetitive-behavior">major antitrust investigations</a>, including a reported probe into Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) over alleged anti-competitive practices in its cloud computing business.
Read Next: 
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<li><a href="https://www.benzinga.com/news/legal/24/12/42423214/luigi-mangione-fights-extradition-to-new-york-on-murder-charge-shouts-at-press-outside-courthouse">Luigi Mangione Fights Extradition To New York On Murder Charge, Shouts At Press Outside Courthouse</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Trump Names Andrew Ferguson As Choice To Replace FTC Chair Lina Khan: Appointee Says He Will 'End Big Tech's Vendetta' Against Free Speech (Updated)

The stock market experienced a downturn on Monday as the S&amp;P 500 and Nasdaq Composite indices fell from their recent record highs. The S&amp;P 500 decreased by 0.3% and the Nasdaq Composite dipped by 0.25%. Despite these setbacks, both indices had recorded gains over the previous three weeks. Meanwhile, the Dow Jones also closed lower, shedding over 150 points.
These are the top stocks that gained the attention of retail traders and investors throughout the day.
GameStop Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>)
GameStop shares declined by 3.65%, closing at $26.93. The stock reached an intraday high of $28.39 and a low of $26.85, with a 52-week range between $64.83 and $9.95. The video game retailer reported <a href="https://www.benzinga.com/general/gaming/24/12/42425015/gamestop-q3-earnings-revenue-miss-4b-cash-no-more-offerings-planned-in-fiscal-year">third-quarter net sales</a> of $860.3 million, falling short of last year&#8217;s $1.08 billion and missing the Street consensus estimate of $887.7 million.
See Also: <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42380768/quantum-computing-stocks-roundup-d-wave-rigetti-ionq-lead-the-charge-with-explosive-growth?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Quantum Computing Stocks Roundup: D-Wave, Rigetti, IonQ Lead the Charge With Explosive Growth</a>
United States Steel Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>)
United States Steel saw its stock plummet by 9.68%, closing at $35.26. The day&#8217;s trading saw a high of $39.05 and a low of $30.55, with a 52-week range of $50.20 to $26.92. The drop followed reports that President Joe Biden plans to <a href="https://www.benzinga.com/24/12/42425695/biden-set-to-block-sale-of-us-steel-to-nippon-steel-reportsitesi">block the company&#8217;s sale</a> to Nippon Steel due to national security concerns. 
Walgreens Boots Alliance Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>)
Walgreens shares surged by 17.74%, closing at $10.42. The stock hit an intraday high of $11.30 and a low of $8.54, with a 52-week range from $27.05 to $8.08. The increase came after reports of <a href="https://www.benzinga.com/24/12/42421855/walgreens-stock-jumps-on-report-of-potential-private-equity-sale-what-you-need-to-know">potential acquisition talks</a> with Sycamore Partners, which could take the company private.
Rigetti Computing Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>)
Rigetti Computing&#8217;s stock soared by 45.19%, closing at $6.49. The stock&#8217;s intraday high was $6.89, with a low of $4.28, and a 52-week range of $6.89 to $0.66. The company made headlines with its AI-powered <a href="https://www.benzinga.com/24/12/42417674/why-is-rigetti-computing-stock-gaining-on-tuesday">calibration breakthrough</a> in quantum computing, significantly enhancing its capabilities.
Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla shares rose by 2.87%, closing at $400.99. The stock reached an intraday high of $409.73 and a low of $390.85, with a 52-week range from $409.73 to $138.8. Tesla saw strong sales in China, marking its <a href="https://www.benzinga.com/tech/24/12/42409492/teslas-2nd-best-week-in-china-in-2024-boosts-q4-prospects">second-best week in 2024</a>. Tesla&#8217;s insurance registrations in China reached 21,900 units for the week ending December 8, its second-best week of 2024, while BYD led with 85,000.
Prepare for the day&#8217;s trading&nbsp;<a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a>&nbsp;by Benzinga.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/global/24/12/42406893/bill-gates-could-go-bankrupt-if-tesla-stock-surges-200-to-become-the-top-company-says-elon-musk?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bill Gates Could Go Bankrupt If Tesla Stock Surges 200% To Become The Top Company, Says Elon Musk</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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