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Former President Donald Trump expressed concerns about Alphabet Inc.&#8217;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>) Google market power and alleged bias in content surfacing during a wide-ranging interview while stopping short of <a href="https://www.benzinga.com/news/24/10/41349873/trump-faces-backlash-after-suggesting-car-assembly-in-america-is-so-simple-a-child-could-do-former-o">supporting calls to break up the tech giant</a>.
What Happened:&nbsp;When asked about the Justice Department&#8217;s potential Google breakup proposal, Trump initially deflected before focusing on what he described as unfair treatment by the company&#8217;s search results.
&#8220;Google&#8217;s got a lot of power. They&#8217;re very bad to me,&#8221; Trump <a href="https://www.youtube.com/watch?v=GX_IVnmoHUE">told</a> Bloomberg&#8217;s John Micklethwait. &#8220;If I have 20 good stories and 20 bad stories&#8230; you&#8217;ll only see the 20 bad stories.&#8221;
The former president claimed he recently contacted Google&#8217;s leadership about the issue, saying he told &#8220;the head of Google&#8221; that positive stories about him weren&#8217;t appearing in search results. 
Rather than endorsing a breakup, Trump suggested alternative regulatory approaches. &#8220;What you can do, without breaking it up, is make sure it&#8217;s more fair,&#8221; he said while acknowledging the company&#8217;s achievements. &#8220;I give them a lot of credit. They&#8217;ve become such a power.&#8221;
Trump also expressed concern about Chinese competition in the tech sector, noting, &#8220;We don&#8217;t want China to have these companies. Right now, China is afraid of Google.&#8221;
When pressed about his administration&#8217;s previous attempts to ban TikTok and whether he still viewed it as a security threat, Trump pivoted back to Google. He recounted an alleged conversation with Google CEO Sundar Pichai where he claimed the CEO told him he was &#8220;the number one person on all of Google for stories.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41303762/trumps-election-odds-on-polymarket-gary-genslers-doubts-about-cryptocurrencys-future-shiba?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Election Odds On Polymarket, Gary Gensler&#8217;s Doubts About Cryptocurrency&#8217;s Future, Shiba Inu Lead Developer&#8217;s Cryptic Post Sparks Intrigue And More: This Week In Crypto</a>
Why It Matters: Trump&#8217;s comments about Google come amid a series of public statements where he has criticized major tech companies. In July, Trump threatened to jail Meta Platforms Inc. CEO Mark Zuckerberg and others for <a href="https://www.benzinga.com/news/24/07/39723781/trump-threatens-to-jail-metas-mark-zuckerberg-and-election-fraudsters-if-re-elected-dont-do-it-be-ca">alleged election fraud if re-elected</a>. 
In September, Trump accused Google of <a href="https://www.benzinga.com/news/24/09/41079928/trump-vs-google-former-president-alleges-search-engine-bias-says-its-only-showing-bad-stories-about">bias in its search results</a>, claiming it was showing negative stories about him while promoting positive ones about Vice President Kamala Harris.
J.D. Vance, the former tech investor and current Republican vice-presidential candidate, has also advocated for breaking up Big Tech, particularly Google, due to its perceived bias. He aligns with figures like FTC Chair Lina Khan in pushing for stronger antitrust measures to curb the dominance of companies like Google and Facebook, which he <a href="https://www.benzinga.com/general/politics/24/07/39826475/trumps-new-running-mate-j-d-vance-wants-to-break-up-google-could-2024-election-be-bad-for-big-te">believes distort political discourse</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/10/41348822/mark-cuban-says-he-knows-what-trump-wants-to-achieve-with-tariffs-but-the-ex-president-has-no-idea-w">Mark Cuban Says He Knows What Trump Wants To Achieve With Tariffs But The Ex-President Has No Idea What It Takes To Do It</a></li>
</ul>
Image Via Flickr
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Global

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Tech

GOOG

GOOGL

Trump Says Google Has A 'Lot Of Power' But Stops Short Of Endorsing A Break Up

<ul>
<li>Semnur is currently in discussions regarding strategic regional and/or worldwide collaborations and potential outright acquisition of SP-102. Any such transactions may have the potential to provide value in excess of $2.5 billion after the proposed business combination (the "Business Combination") with Denali Capital Acquisition Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DECA#NASDAQ">DECA</a>, the "SPAC")))).</li>
<li>Based on an independent market research conducted by Syneos Health Consulting ("Syneos"), with the substantial intent in utilization for SP-102 (SEMDEXA&#x2122;) with peak sales potential projected to reach $3.6 billion annually in the 5th year post launch of SP-102.</li>
<li>Semnur Pharmaceuticals, Inc. ("Semnur"), a wholly owned subsidiary of Scilex Holding Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCLX#NASDAQ">SCLX</a>, "Scilex")))) announced that it anticipates the filing of a Registration Statement on Form S-4 (the "Registration Statement") with the Securities and Exchange Commission (the "SEC") before the end of October 2024 for the previously announced proposed Business Combination with Denali Capital Acquisition Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DECA#NASDAQ">DECA</a>, the "SPAC")))), which provides for a pre-transaction equity value of Semnur of $2.5 billion.</li>
<li>The closing of the Business Combination is expected to occur by the end of fourth quarter of 2024 or the first quarter of 2025.</li>
<li>As previously disclosed, the Board of Directors of Scilex approved a resolution to authorize a potential dividend of up to 10% of Scilex's ownership interest in Semnur to Scilex shareholders, subject to registration statement of Semnur on file with the SEC.&nbsp; These shares will be freely tradable upon exchanging to Denali common shares after Business Combination.</li>
<li>Scilex will set a record date for the dividend shares after Semnur registration statement on file with SEC. &nbsp;</li>
</ul>
PALO ALTO, Calif., Oct. 16, 2024 (GLOBE NEWSWIRE) -- Scilex Holding Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCLX#NASDAQ">SCLX</a>, "Scilex" or "Company")))), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain, today announced that it anticipates the filing of the Registration Statement with the SEC before the end of October 2024 relating to the previously announced proposed Business Combination with Denali Capital Acquisition Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DECA#NASDAQ">DECA</a>) for a pre-transaction equity value of $2.5 billion which transaction is expected to occur by the end of fourth quarter of 2024 or the first quarter of 2025.

DECA

SCLX

Semnur Eyes Potential $2.5B Acquisition of SP-102 as Business Combination with Denali Nears

SYNA

Synaptics Launched The Veros Seamless Intelligent Connectivity Brand With High-performance Systems On Chip (socs) For Wi-fi 6e, Bluetooth, And 802.15.4

Guidance

DLPN

Dolphin Launches Into Multibillion Dollar Women's Sports Market, Expects FY 2024 Revenue to Exceed $50M Up 20% YoY, and Positive Adjusted Operating Income

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fcpicardgroup.com%2F&amp;esheet=54136709&amp;newsitemid=20241015089348&amp;lan=en-US&amp;anchor=CPI+Card+Group+Inc.&amp;index=1&amp;md5=5a2fd61f24730d26cc45c27611e770b5">CPI Card Group Inc.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PMTS#NASDAQ">PMTS</a>) ("CPI" or "the Company"), a payments technology company providing a comprehensive range of credit, debit, and prepaid card solutions, fraud tools, and digital solutions including Software-as-a-Service-based instant issuance, is ready to produce the latest advancement in pay technology with a new contactless card build featuring Infineon's SECORA Pay Green. CPI began manufacturing sample cards in September and is ready with inventory in-house to work with issuers on pilots of this innovative technology.
Launched today, this All-in-One technology with an integrated chip and antenna, allows card manufacturers like CPI to expand card design options for features like card shape, colored core, clear cards and eco-focused materials. Additionally, the chip-plus-antenna design offers contactless payment technology without the need for a separate inlay within the card build, ultimately decreasing the card's carbon footprint.

PMTS

CPI Card Group Introduces Eco-Friendly Contactless Payment Cards Using SECORA Pay Green Technology

ZCAR

Zoomcar Hit A Major Milestone In The Debt Restructuring Process That Is Aimed At Reducing The Company's Debt Obligations Of Approximately $31M Out Of The Total Outstanding Debt As On June 30, 2024

In a blog post on Tuesday, the International Monetary Fund (IMF) highlighted the potential of artificial intelligence to enhance market efficiency while also posing risks of increased volatility and cyber threats.
What Happened: The IMF&#8217;s Global Financial Stability Report delves into the role of AI in financial institutions and its potential impact on markets. AI&#8217;s rapid data processing capabilities could revolutionize markets, but its adoption remains limited among investors. The report anticipates growth in AI-driven trading, especially in liquid asset classes like equities and bonds, which could lead to market instability. This was evident during the March 2020 market turmoil involving AI-driven ETFs.
Patent data reveals a surge in AI-related innovations for algorithmic trading, indicating a forthcoming wave of technological advancements. The IMF warns that AI might shift investments to less regulated nonbank financial intermediaries, complicating market oversight. 
To tackle these challenges, the IMF suggests enhancing regulation and supervision of AI-related activities, implementing new volatility response mechanisms, and strengthening oversight of nonbank intermediaries.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41308908/man-who-accidentally-threw-hard-drive-containing-8-000-bitcoins-worth-half-a-billion-dolla?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Man Who Accidentally Threw Hard Drive Containing 8,000 Bitcoins Worth Half A Billion Dollars In Landfill Sues Local City Council For Not Excavating The Site</a>
Why It Matters: The potential impact of AI on financial markets has been a topic of concern for some time. In June, IMF Deputy Chief Gita Gopinath warned about <a href="https://www.benzinga.com/news/24/06/39224309/imfs-gita-gopinath-warns-ai-could-disrupt-financial-markets-supply-chains-and-more-policy-actions-no">AI&#8217;s disruptive potential</a> on financial markets and other sectors, emphasizing the need for policy actions to mitigate risks while harnessing AI&#8217;s benefits. Her comments highlighted the importance of monitoring AI&#8217;s adoption and application across various sectors.
Additionally, the 2024 U.S. presidential election has been identified as a <a href="https://www.benzinga.com/markets/24/10/41125551/why-the-us-presidential-election-will-be-a-watershed-moment-for-artificial-intelligence-in-trading-f">pivotal moment for AI </a>in trading. The election&#8217;s unpredictability, coupled with AI&#8217;s growing role in forecasting for broker-dealers, suggests that AI could face significant challenges in the coming months. This period may serve as a watershed moment for trading intelligence, as election uncertainty could lead to increased market volatility.
Price Action: At the time of writing during Tuesday&#8217;s after-hours market, AI ETFs were showing mixed activity, as per <a href="https://pro.benzinga.com">Benzinga Pro</a>. First Trust Nasdaq Artificial Intelligence and Robotics ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROBT#NASDAQ">ROBT</a>) was up y 2.47%, Global X Artificial Intelligence &amp; Technology ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIQ#NASDAQ">AIQ</a>) was up by 1.28% and iShares Global Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IXN#NYSE">IXN</a>) was up by 2.60%. However, iShares Expanded Tech Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGM#NYSE">IGM</a>) was down by 1.42%.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41306653/anthony-scaramucci-praises-trump-for-shifting-the-crypto-debate-hes-now-forced-the-democra?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Praises Trump For Shifting The Crypto Debate: &#8216;He&#8217;s Now Forced The Democrats To Come Back Into The Middle&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Image Created using AI via Midjourney

General

iShares Trust S&P Global Information Technology Sector Index Fund

ROBT

IMF Warns AI In Stock Trading Can Boost Efficiency, But Warns Of Increased Market Volatility

Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>) will release earnings results for its third quarter, before the <a href="https://www.benzinga.com/quote/ABT/earnings">opening bell on Wednesday, Oct. 16.</a>
Analysts expect the North Chicago, Illinois-based company to report quarterly earnings at $1.2 per share, up from $1.14 per share in the year-ago period. Abbott projects to report revenue of $10.55 billion for the quarter, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Sept. 19, the company's board of directors declared a quarterly common dividend of 55 cents per share.
Abbott shares fell 0.6% to close at $116.05 on Tuesday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/TJX/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Raymond James analyst Jayson Bedford maintained an Outperform rating and raised the price target from $122 to $129 on Oct. 14. This analyst has an accuracy rate of 67%.</li>
<li>Evercore ISI Group analyst Vijay Kumar maintained an Outperform rating and boosted the price target from $120 to $124 on Oct. 1. This analyst has an accuracy rate of 60%.</li>
<li>Jefferies analyst Raj Denhoy reiterated a Hold rating with a price target of $120 on Sept. 26. This analyst has an accuracy rate of 76%.</li>
<li>Piper Sandler analyst Adam Maeder initiated coverage on the stock with an Overweight rating and a price target of $131 on Sept. 19. This analyst has an accuracy rate of 60%.</li>
<li>Citigroup analyst Joanna Wiensch maintained a Buy rating and raised the price target from $119 to $127 on Aug. 22. This analyst has an accuracy rate of 60%.</li>
</ul>
Read This Next: 
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<li><a href="https://www.benzinga.com/markets/24/10/41342689/top-3-tech-and-telecom-stocks-that-could-lead-to-your-biggest-gains-this-quarter">Top 3 Tech And Telecom Stocks That Could Lead To Your Biggest Gains This Quarter</a></li>
</ul>

Earnings

Price Target

Pre-Market Outlook

Analyst Ratings

Trading Ideas

Abbott Gears Up For Q3 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) had <a href="https://www.benzinga.com/news/24/10/41303750/elon-musks-new-cybercab-does-not-have-stainless-steel-exterior-panels-like-cybertruck-despite-other">19 Cybercabs</a> and 29 Model Ys driving autonomously at the &#8216;We, Robot&#8217; event held by the company earlier this month and no safety-related events occurred, company executive Ashok Elluswamy said on Tuesday.
What Happened: The &#8216;We, Robot&#8217; event was held by Tesla on Oct. 10 at Warner Bros. Discovery Inc.&#8217;s movie studio near Los Angeles. The company unveiled its dedicated two-seater <a href="https://www.benzinga.com/topic/robotaxi" target="_blank" rel="noreferrer noopener">robotaxi product</a>, nicknamed the Cybercab, complete with butterfly wings that open upwards in addition to a Robovan that can accommodate up to 20 people.
Both vehicles are designed for autonomous driving, so they don&#8217;t have pedals or steering wheels.
At the end of the official announcements by CEO Elon Musk, the company opened the chance to the guests assembled to experience autonomous driving around the studio in a fleet of 19 Cybercabs and 29 autonomously operating Model Ys. 
&#8220;&#8230;every trip was perfectly safe,&#8221; Elluswamy said on Tuesday. The fleet also operated continuously for over 3.5 hours, offering 1,300 trips for over 2000 guests, he added.
&#8220;It was really amazing to see users take the robotaxis for granted. They didn&#8217;t seem to think twice before crossing in front of it, walking alongside it, robotaxis interacting with one another etc. They behaved just the same way they would around human-driven vehicles.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It was really amazing to see users take the robotaxis for granted. They didn&#39;t seem to think twice before crossing in front of it, walking alongside it, robotaxis interacting with one another etc. They behaved just the same way they would around human-driven vehicles.
&mdash; Ashok Elluswamy (@aelluswamy) <a href="https://twitter.com/aelluswamy/status/1846394970414149791?ref_src=twsrc%5Etfw">October 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Elluswamy also added that all of the autonomy demonstrated at the event was using &#8220;close to the production AI software or will ship soon in v13.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Finally, it took an immense amount of effort from a very talented team to pull this off. The event was super motivating for the team and we are looking forward to bringing this to the real world as soon as possible.
&mdash; Ashok Elluswamy (@aelluswamy) <a href="https://twitter.com/aelluswamy/status/1846394976281694346?ref_src=twsrc%5Etfw">October 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: The event held on Oct. 10 was dedicated to showcasing Tesla&#8217;s efforts in the field of autonomous driving and robotics. 
Musk then said that the <a href="https://www.benzinga.com/news/24/10/41284847/tesla-reveals-two-seater-cybercab-that-drives-itself">Cybercab would be priced under $30,000</a> and use inductive charging instead of a charging plug.
The company will start autonomous driving with its Model 3 and Model Y in Texas and California next year and the Cybercab will join the autonomous fleet in 2026 or before 2027, Musk said, while adding that he tends to be overly optimistic with timelines.
The CEO, however, provided no production timeline for the Robovan. 
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41324450/elon-musk-says-spacexs-next-generation-starlink-satellites-will-be-so-big-that-only-starship-can-lau" target="_blank" rel="noreferrer noopener">Elon Musk Says SpaceX's Next-Generation Starlink Satellites Will Be ‘So Big That Only Starship Can Launch Them:' Will Offer 10X Increase In Bandwidth And Reduced Latency</a></li>
</ul>
Photo courtesy: Tesla

TSLA

Tesla Key Exec Says 'We, Robot' Event Had 1,300 'Perfectly Safe' Autonomous Trips Driving Over 2,000 Guests: 'Really Amazing To See Users Take The Robotaxis For Granted'

Apple, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40971882/as-apples-iphone-16-goes-on-sale-analyst-says-demand-off-to-strong-start-keeping-cu"> newest iPhone iteration that is armed with Apple Intelligence </a>hasn&#8217;t caught on in a big way ever since its launch on Sept. 9, and Morgan Stanley&#8217;s analysis of the latest lead times data suggest that demand hasn&#8217;t been anemic either.
The Analyst: Erik Woodring has an Overweight rating and a $273 price target for Apple&#8217;s stock.
The Thesis: The iPhone 16 lead times were lower year-over-year but stable week-over-week, said Woodring in a note published on Tuesday. As of Oct. 11 (28 days after preorders started), iPhone lead times were three to 10 days lower year-over-year but Pro/Pro Max lead times have extended by two days week-over-week, showing stabilization, he said.
This is more encouraging than the contraction in lead times seen from the iPhone 15 at this point last cycle, the analyst said. He noted that the iPhone 16 Pro/Pro Max lead times have extended internationally, by 1.5 days on average from the previous week in all regions except China.
Also, supply-chain checks showed that Apple had asked suppliers to prepare component inventories earlier than typical patterns to avoid supply constraints, Woodring said. He noted that in the past cycles, supply shortages kept new model iPhone Pro/Pro Max supply/demand imbalanced for months.
&#8220;We believe that better supply conditions are one of the contributing factors to why iPhone lead times are shorter this cycle than in recent cycles,&#8221; he added.
The smartphone supply chain suggests no change in iPhone builds, the analyst said.
<a href="https://www.benzinga.com/news/24/09/40674140/huawei-plans-to-one-up-apples-iphone-16-with-disruptive-product-launch-says-it-has-turned-science-fi">Apple&#8217;s China rival Huawei&#8217;s </a>high-end smartphone shipment will be constrained by limited chip supply and iPhone&#8217;s market share will remain stable in China, he said. 
See Also: <a href="https://www.benzinga.com/money/best-tech-stocks">Best Tech Stocks</a>
Morgan Stanley predicts 225 million units of iPhone shipments for 2024, slightly above the 224 million-unit consensus forecast, and 234.5 million units for 2025.
IDC estimates iPhone sales of 56 million units in the September quarter, due to early iPhone 16 sell-in, persistent late-cycle iPhone 15 strength, and elevated promotional activity, the analyst said, adding this is 3.5 million units above Morgan Stanley&#8217;s estimate and 6 million units above the consensus.
The 56 million iPhone shipments would equate to $3 billion or 3% revenue upside but lower-than-expected Mac shipments in the September quarter could be a partial negative offset, Woodring said.
Apple Stock: In premarket trading, Apple climbed 1.10% to $233.85, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/09/40744895/elon-musk-left-in-awe-as-apple-sells-1-4m-iphones-every-2-days-an-insane-growth-from-its-launch-">Elon Musk Left In Awe As Apple Sells 1.4M iPhones Every 2 Days — An &#8216;Insane&#8217; Growth From Its Launch Year</a></li>
</ul>
Photo courtesy: Apple

Analyst Color

Reiteration

AAPL

Apple Analyst Predicts A September Quarter Revenue Beat, Allays Fears Over Shorter iPhone Lead Times

Raphael Bostic, the President of the Atlanta Federal Reserve, has projected only one more interest rate cut this year.
What Happened: Bostic revealed his projection at an event in Atlanta, stating that he anticipates a single additional interest rate reduction of 25 basis points for the remainder of the year. This is a deviation from the median projection of 50 basis points more, Reuters reported on Wednesday.
&#8220;The median was for &#8230; 50 basis points more, above and beyond the 50 basis points that was done in September. My dot was 25 basis points more,&#8221; said Bostic.
The Federal Reserve had previously reduced rates by 50 basis points in September, with further reductions expected over the next year to alleviate some of the policy restraints imposed to lower inflation.
Bostic, however, emphasized that his projection is not set in stone and will be adjusted as necessary in response to incoming data on inflation and the job market.
See Also: <a href="https://www.benzinga.com/news/earnings/24/10/41326823/wall-street-on-edge-as-nasdaq-nears-record-high-oil-prices-plummet-strategist-says-theres-opportuni?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Why Nasdaq, S&amp;P 500 Could Start Tuesday&#8217;s Session In The Red</a>
Why It Matters: The potential rate cut projection by Bostic follows a series of events that have shaped the Federal Reserve&#8217;s current stance. In August, Bostic expressed <a href="https://www.benzinga.com/news/24/08/40616200/feds-raphael-bostic-i-dont-want-us-to-be-in-a-situation-where-we-cut-and-then-we-have-to-raise-rates">caution regarding rate cuts</a>, emphasizing the need for confirmation from upcoming economic reports. 
In September, Bostic faced scrutiny after a Jerome Powell-led investigation <a href="https://www.benzinga.com/news/24/09/40824610/jerome-powell-led-investigation-finds-atlanta-fed-president-raphael-bostic-breached-fomc-rules-creat">revealed breaches of FOMC rules</a>, potentially affecting his impartiality.
Additionally, recent economic data has influenced the Fed&#8217;s cautious approach. The September <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41187740/blowout-september-jobs-report-spurs-reactions-6-economists-say-aggressive-fed-rat">jobs report showed</a> stronger-than-expected payroll growth, complicating the case for aggressive rate cuts.
Moreover, Fed Governor Christopher J. Waller recently expressed <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41321467/feds-waller-signals-caution-on-interest-rate-cuts-latest-inflation-data-was-disap">concerns over inflation data</a>, urging caution in proceeding with rate cuts.
Read Next: 
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41320277/oil-prices-drop-2-as-opec-cuts-forecast-irans-output-rises-analyst-says-netanyahu-m?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Oil Prices Drop 2% As OPEC Cuts Forecast, Iran&#8217;s Output Rises: Analyst Says Netanyahu May Doubt US Commitment To &#8216;Restricting Iranian Exports&#8217;</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Economics

Federal Reserve

Fed's Bostic Projects Just A Single Rate Cut By January — One And Done, For Real?

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>) subsidiary Google has officially begun rolling out Android 15, the latest version of its <a href="https://www.benzinga.com/news/24/04/38038391/future-android-update-could-make-your-webcams-way-better-but-theres-a-catch">mobile operating system</a>, to Pixel devices today.
What Happened:&nbsp;The update introduces a range of new security, privacy, and productivity features, with a strong focus on user protection, particularly against theft and unauthorized access to sensitive information. The new release is also designed to enhance the user experience on large-screen devices like foldables and tablets.
<h3 class="wp-block-heading">Top Android 15 Features</h3>
<h4 class="wp-block-heading">Theft Protection and Recovery</h4>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07075551/Google-AI-theft-detection-1024x576.jpg" alt="Google AI theft detection" class="wp-image-583218" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07075551/Google-AI-theft-detection-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07075551/Google-AI-theft-detection-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07075551/Google-AI-theft-detection-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07075551/Google-AI-theft-detection-1536x864.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07075551/Google-AI-theft-detection.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Google AI theft detection &#x7C; Photo courtesy: Google</figcaption></figure>
One of the standout features of Android 15 is the Theft Detection Lock, which uses artificial intelligence technology to automatically lock a device if it senses suspicious movement, such as someone running or driving away with it. This feature is designed to thwart thieves before they can access personal data. Users can also remotely lock their devices from any other device using their phone number and a security check.
Further security enhancements include protections against thieves tampering with important settings. Android 15 adds authentication requirements for actions like removing a SIM card or turning off Find My Device, preventing thieves from easily resetting and selling stolen devices. Multiple failed attempts to access apps or settings will now trigger a lockdown of the device.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
<h4 class="wp-block-heading">Private Space for Sensitive Apps</h4>
In an effort to bolster user privacy, Android 15 introduces a Private Space feature that functions as a secure digital safe. Users can create this space to hide sensitive apps—such as those for banking, social media, or dating—ensuring they remain invisible to others. 
Apps in this private space are excluded from the app list, recent apps view, notifications, and settings, and can only be accessed with an additional layer of authentication. Users can even hide the existence of the private space from the main interface of the device for extra security.
<h4 class="wp-block-heading">Enhanced Multitasking on Foldables and Tablets</h4>
Google is also improving the Android experience on foldable devices and tablets. Android 15 offers the ability to pin and unpin the taskbar on-screen, allowing users to quickly access their favorite apps like Google Photos or Gmail. 
The update introduces App Pairing, a new multitasking feature that enables users to open two apps simultaneously, such as Gmail and Google Drive, and drag-and-drop files between them. App combinations can be saved as a single icon, making it easier to launch them in split-screen mode.
See Also: <a href="https://www.benzinga.com/general/entertainment/24/10/41350347/youtube-rolls-out-new-features-including-sleep-timer-collaborative-playlists-and-enhanced-m">YouTube Rolls Out New Features Including Sleep Timer, Collaborative Playlists, And Enhanced Miniplayer For Better User Experience</a>
<h4 class="wp-block-heading">Camera, Messaging, and Passkey Updates</h4>
Android 15 introduces several updates to the camera, messaging, and authentication systems:
<ul>
<li>The Low Light Boost improves image quality in poor lighting conditions, while third-party apps gain more control over features like the flashlight.</li>
<li>Carrier messaging apps now support satellite connectivity, allowing users to send and receive messages even without a mobile or Wi-Fi connection.</li>
<li>Apps using Passkeys for login will benefit from a more seamless authentication process, allowing users to log in with a single tap.</li>
</ul>
Seang Chau, VP and GM of Android Platform said, &#8220;Your Android devices are always getting better thanks to new features and updates rolling out all the time—not just once a year.&#8221;
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: 
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<li><a href="https://www.benzinga.com/news/24/10/41349691/apple-mini-gets-an-ai-upgrade-3-years-after-last-facelift-price-starts-at-499">Apple Mini Gets An AI Upgrade 3 Years After Last Facelift — Price Starts At $499</a></li>
</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Google

Google Rolls Out Android 15 With Theft Detection Lock, Privacy Features For 'Sensitive' Apps And More

<a href="https://www.workday.com/en-us/homepage.html">Workday, Inc.</a>&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>) has announced its documentary, "<a href="http://www.workday.com/untapped-film">UNTAPPED: Closing America's Opportunity Gap</a>," produced in partnership with SpringHill, is now streaming on Netflix in the U.S.
&nbsp;
UNTAPPED charts the emotional and inspiring journeys of six young adults as they navigate a rigorous skills training program through <a href="http://www.yearupunited.org/">Year Up United</a>, for a shot at Fortune 500 internships – in hopes of changing the trajectory of their lives.&nbsp;
Set against a tapestry of deeply moving and powerful human stories, this Workday-developed documentary, directed by award-winning filmmaker Josh Kahn, boldly shines a light on the urgent need for skills-based hiring – a practice that focuses on a person's full range of skills and capabilities, rather than only looking at whether they have a traditional four-year college degree.
In the film, industry titans including GM CEO Mary Barra, JPMorganChase Chairman and CEO Jamie Dimon, Walmart CEO Doug McMillon, Workday Co-Founder and Executive Chair Aneel Bhusri, Workday CEO Carl Eschenbach, entrepreneur Mark Cuban, and more, share their candid experiences and perspectives about the skills imperative.
When asked about the significance of the film's message, JPMorganChase Chairman and CEO Jamie Dimon commented, "The new world of work is about skills, not necessarily degrees. We must remove the stigma of a community college and career education, look for opportunities to upskill or reskill workers, and give those who have been left behind the chance to compete for well-paying careers – today and tomorrow. It's good for business and good for society."
Workday CEO Carl Eschenbach echoed Dimon's sentiments and shared, "There are, and should be, different paths that can lead you to a successful career. I opted to get technical school training rather than a four-year degree and have selected roles to build out my skills over the past 35 years in technology. Skills are the modern currency of work."

NFLX

WDAY

Workday's 'UNTAPPED' Documentary Now Streaming on Netflix, Spotlighting Skills-Based Hiring

eBay, a leading destination for new and pre-loved fashion and luxury, has announced today the global expansion of its Circular Fashion Fund (CFF). The fund is designed to help fashion start-ups scale circular solutions, from production to end-of-life, including rental and repair services. Applications are open from now until November 15, 2024, and innovative tech start-ups and small businesses can apply via eBay's website [<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4279282-1&amp;h=2562314856&amp;u=https%3A%2F%2Fwww.ebay.com%2Fsml%2Fcircular-fashion-innovation-fund-apply&amp;a=here">here</a>].
&nbsp;
Since it launched in the UK in 2022, the&nbsp;CFF has helped 15 businesses scale their circular solutions including The Seam, which allows businesses to offer garment care &amp; repair services at scale to extend the life of clothes, and RCYCL, creators of the innovative at-home fashion recycling program for unwearable clothing. Now in its third year in the UK, the CFF is set to launch in the US and Germany for the first time having successfully expanded to Australia last year.
As part of eBay's commitment to the circular economy, the global expansion of the CFF extends its reach to invest in businesses that bring new technology and services to the market and help people think and shop differently. eBay is transforming the buying and selling experience so that more brands, sellers and buyers can participate in circular fashion.
The&nbsp;CFF will provide a global investment of $1.2 million to start-ups in the global markets by the end of 2025, and over 200 hours of mentoring and networking support for applicants from industry experts. Past judges have included Hugo Adams, CEO of Kelpi Sustainable Materials and KITX Founder Kit Willow. To further amplify its impact, eBay Ventures will select one winner from the global selection of finalists to become "Circular Fashion Innovator of the Year" and receive an investment of $300,000.

EBAY

eBay Expands Circular Fashion Fund Globally, Supporting Sustainable Fashion Startups

The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index moved to the &#8220;Greed&#8221; zone on Tuesday.
U.S. stocks settled lower on Tuesday, with the Dow Jones index falling more than 300 points during the session. ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) shares dipped over 16% after a technical error prematurely revealed its third-quarter earnings, originally scheduled for Wednesday, on the company's website. NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares fell 4.7%, while Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) dipped 5.2% during the session.
UnitedHealth Group Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) shares dipped over 8% on Tuesday after the company reported third-quarter financial results and lowered the upper-end range of the annual EPS outlook. Bank of America Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) reported better-than-expected earnings for its third quarter.
On the economic data front, the NY Empire State Manufacturing Index declined to -11.9 in October from 11.5 in the previous month and topped market estimates of 3.8.
Most sectors on the S&amp;P 500 closed on a negative note, with information technology, energy, and healthcare stocks recording the biggest losses on Tuesday. However, real estate and consumer staples stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 325 points to 42,740.42 on Tuesday. The S&amp;P 500 fell 0.76% to 5,815.26, while the Nasdaq Composite fell 1.01% to close at 18,315.59 during Tuesday's session.
Investors are awaiting earnings results from Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>), and U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 70.1, the index moved to the &#8220;Greed&#8221; zone on Tuesday, versus a prior reading of 75.1.
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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<li><a href="https://www.benzinga.com/markets/24/10/41342689/top-3-tech-and-telecom-stocks-that-could-lead-to-your-biggest-gains-this-quarter">Top 3 Tech And Telecom Stocks That Could Lead To Your Biggest Gains This Quarter</a></li>
</ul>
Photo courtesy: Shutterstock

ASML

NVDA

Nvidia, AMD, ASML And Other Chipmakers Drag Nasdaq Down: Fear Index Moves To 'Greed' Zone

<ul>
<li>GXO to become Matalan&#39;s strategic transport partner, responsible for over 550 weekly deliveries to over 200 Matalan stores across the UK&amp;I</li>
<li>New partnership will help to optimise Matalan&#39;s transport network, supporting its supply chain efficiency and commitment to deliver for customers</li>
</ul>

GXO Inks Strategic Partnership With Matalan To Handle Over 550 Weekly Deliveries Across UK And Ireland

Danske Bank Integrates Broadridge's Proxy Voting Technology, Elevating Investor Services

These agreements form the foundation of the Company&#39;s compliance plan, submitted to Nasdaq on October 7, 2024, to address the Company&#39;s requirement to maintain a minimum of&nbsp;$2.5 million&nbsp;in shareholders&#39; equity for continued listing on The Nasdaq Capital Market, as outlined in Nasdaq Listing Rule 5550(b)(1).&nbsp;

Versus Systems Announces $2.5M Investment And Licensing Agreement With ASPIS To Strengthen Nasdaq Compliance

Amid growing concerns from the U.S. about the potential diversion of advanced chip technology to China, the UAE has assured its commitment to safeguarding these technologies. The assurance comes as the Biden administration considers imposing restrictions on chip sales from Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) to the Middle East.
What Happened: Peng Xiao, CEO of UAE&#8217;s prominent AI firm G42, reiterated the country&#8217;s dedication to protecting sensitive technology. In an <a href="https://www.cnbc.com/2024/10/16/uae-has-shown-it-can-guarantee-the-safety-and-the-security-of-chips-g42-ceo-says.html">interview </a>with CNBC, Xiao emphasized that the UAE is a reliable partner for the U.S. in securing chip technology. His comments follow the Biden administration&#8217;s contemplation of restricting chip sales to the Middle East.
"I cannot read the mind of the U.S. policymakers, but in many ways, I understand their position," Xiao said.
"At the same time from our side, we've shown from the UAE side how transparent we are and how we can guarantee the safety and the security of this technology," he added.
Xiao expressed an understanding of U.S. policymakers&#8217; concerns while highlighting the UAE&#8217;s transparency and ability to ensure chip security. He conveyed optimism for enhanced collaboration and technology sharing between the U.S. and UAE. Despite previous U.S. warnings about G42&#8217;s connections to China, the company has taken measures to reassure American partners, including divesting stakes in Chinese firms. In April, Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) entered a $1.5 billion agreement with G42, showcasing UAE&#8217;s AI ambitions.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41303762/trumps-election-odds-on-polymarket-gary-genslers-doubts-about-cryptocurrencys-future-shiba?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Election Odds On Polymarket, Gary Gensler&#8217;s Doubts About Cryptocurrency&#8217;s Future, Shiba Inu Lead Developer&#8217;s Cryptic Post Sparks Intrigue And More: This Week In Crypto</a>
The UAE and the U.S. have pledged to strengthen AI cooperation, with a joint statement affirming their commitment to fostering collaboration in AI and related technologies.
Why It Matters: The U.S. has been cautious about the export of AI chips to the Middle East due to national security concerns. In May, the <a href="https://www.benzinga.com/general/politics/24/05/39098684/us-taps-brakes-on-ai-chip-sales-to-middle-east-over-national-security-concerns">U.S. government temporarily halted </a>the issuance of licenses for AI chip exports to the region, affecting companies like Nvidia and AMD. This move was part of a broader national security review of AI development in the area.
In June, the UAE acknowledged the U.S.&#8217;s concerns about the <a href="https://www.benzinga.com/news/24/06/39274269/uae-supports-us-restrictions-on-semiconductor-exports-to-china-report">potential diversion of advanced chip</a> technologies to China. The UAE&#8217;s Minister for Artificial Intelligence and Digital Economy, Omar Al Olama, recognized the geopolitical challenges due to the UAE&#8217;s strategic location.
Recently, the Biden administration was reported to be considering restricting the export of advanced AI chips to certain countries, including <a href="https://www.benzinga.com/news/24/10/41323155/nvidia-amd-face-chip-export-curbs-as-biden-administration-considers-restrictions-on-middle-east-coun">those in the Persian Gulf.</a> This proposal aims to limit the AI capabilities of specific nations, citing national security concerns.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41306653/anthony-scaramucci-praises-trump-for-shifting-the-crypto-debate-hes-now-forced-the-democra?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Praises Trump For Shifting The Crypto Debate: &#8216;He&#8217;s Now Forced The Democrats To Come Back Into The Middle&#8217;</a></li>
</ul>
Image via Unsplash
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

MSFT

Amid Fear Of China's Access To Nvidia, AMD Chips Through Middle East, This CEO Assures UAE Reliable Partner For US: 'We Can Guarantee The Safety And Security Of This Technology'

Consolidated shipments for the three months ending September 30, 2024, were an estimated 1,148 thousand units, representing a&nbsp;20%&nbsp;decline versus the same period in 2023. The shipment decline was more severe than the underlying sales decline in the period of approximately&nbsp;15%, due to the temporary impacts of transitions in our product portfolio and dealer inventory reduction initiatives.

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PACIFIC INDL & LOGISTICS by PACIFIC INDL & LOGISTICS REIT PLC (PCILF) Forecast

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