RareX Stock (OTC:REEEF), Trade Ideas

RareX Ltd is an Australian specialist rare earth company engaged in developing the Cummins Range Rare Earth Project in the East Kimberly region of Western Australia. Its project portfolio includes the Cummins Range, Hong Kong Gold Project, and NSW Copper Gold. The company's operating segment includes Rare Earths (Western Australia); Gold/Nickel/Copper (Western Australia); Cobalt/Nickel (Austria); Cobalt (Morocco); Copper/Gold (New South Wales); Copper/Gold (Kenya) and Corporate.

RareX Ltd

Palmer Luckey, founder of Anduril Industries, has praised his company&#8217;s contract with the U.S. Air Force to develop autonomous fighter jets.
What Happened: During CNBC&#8217;s &#8220;Last Call&#8221; on Thursday, Luckey expressed his excitement about the project. 
He stated, "It&#8217;s also a milestone for the U.S. Air Force to be building and developing an autonomous fighter jet for the first time at scale, this is really an incredible program."
Along with Anduril, the U.S. Air Force has also selected General Atomics for the program which will involve testing production representative Collaborative Combat Aircraft or CCA.
Luckey also highlighted the importance of AI in wars.
&#8220;AI is an important part, not just for the economy but also for the way we deter wars, fight wars, and win wars. And the CCA program is a reflection of that. Building autonomous fighter jets to fight alongside people is a very challenging application of AI.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"This is a major milestone," says <a href="https://twitter.com/anduriltech?ref_src=twsrc%5Etfw">@anduriltech</a> founder <a href="https://twitter.com/PalmerLuckey?ref_src=twsrc%5Etfw">@PalmerLuckey</a> on his company's contract with the U.S. Air Force. "To be building and developing an autonomous fighter jet for the first time at scale, this is really an incredible program." <a href="https://t.co/m4tBBlqirD">pic.twitter.com/m4tBBlqirD</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1783647214985732345?ref_src=twsrc%5Etfw">April 26, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/24/04/38423358/bill-ackman-says-not-voting-for-biden-slams-president-for-inaction-on-american-hostage-issue-too-foc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bill Ackman Says &#8216;Not Voting For Biden,&#8217; Slams President For Inaction On American Hostage Issue: &#8216;Too Focused On Other Talking Points…To Get Re-elected&#8217;</a>
Why It Matters: Anduril acquired autonomous aircraft developer Blue Force Technologies, which developed the Fury, a group 5 autonomous air vehicle with fighter-like performance.
This contract signifies a significant step for Anduril Industries and the wider defense technology sector. The <a href="https://www.benzinga.com/news/23/09/34347411/elon-musk-palmer-luckey-discuss-fighter-like-performance-of-andurils-autonomous-air-vehicle-tesla-ce">Fury is capable of pulling 9Gs at Mach 0.95</a> for a fraction of the cost of similarly performant fighter craft, according to Luckey.
The <a href="https://www.benzinga.com/government/24/04/38335201/pentagons-defense-innovation-unit-to-boost-startups-with-increased-funding-and-support">Defense Innovation Unit (DIU) of the Pentagon</a>, known for its collaboration with startups, is set to receive a significant increase in funding and support. The DIU has granted 62 contracts worth $5.5 billion to startups for products ranging from autonomous drones to cybersecurity software.
This comes amid a potential surge in defense spending by Western nations to counter Russia and China's growing military power. The U.S. and its allies are contemplating a <a href="https://www.benzinga.com/government/24/04/38155210/western-nations-may-face-10-trillion-defense-spending-surge-amid-russia-china-threat-report">significant surge in defense spending</a>, which could surpass $10 trillion in the next decade.
Read Next: <a href="https://www.benzinga.com/news/24/04/38422645/trumps-niece-says-ex-president-could-see-potential-imprisonment-as-opportunity-donald-is-facing-real?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Niece Says Ex-President Could See Potential Imprisonment As Opportunity: &#8216;Donald Is Facing Real-Time Consequences For His Transgressions&#8217;</a>
Image via Shutterstock
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News

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General

'AI Is Important...For The Way We Deter Wars,' Says Anduril Founder After Winning US Air Force Contract To Develop Autonomous Fighter Jets

Tesla Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) <a href="https://www.benzinga.com/news/24/04/38130429/new-cybertruck-orders-will-only-be-delivered-in-2025-says-tesla-website">Cybertruck</a> competed against airplanes at the Orlando Airshow over the weekend and company CEO Elon Musk thinks it&#8217;s &#8220;cool&#8221; despite the results of the race.
What Happened: The result of the race was predictable. While the top speed of the higher-end version of the Cybertruck is just 130 mph, the average speed for a commercial passenger aircraft is well over 500 mph. Fighter jets, meanwhile, are twice or more as fast. 
Unsurprisingly, the Cybertruck was defeated in the race against the QuickSilver P-51 Mustang, a restored version of the P-51 fighter aircraft that was part of World War 2. 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="648" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26054727/image-233-1024x648.png" alt="" class="wp-image-310375" style="width:800px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26054727/image-233-1024x648.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26054727/image-233-300x190.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26054727/image-233-768x486.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26054727/image-233.png 1355w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Irrespective of the result of the race, Tesla CEO Elon Musk responded to a video of two Cybertrucks racing against an aircraft on Thursday with a brief, &#8220;Cool.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Cool
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1783728663932153881?ref_src=twsrc%5Etfw">April 26, 2024</a></blockquote>
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The Orlando Air Show was held between April 20 and 21 at Orlando Sanford International Airport.
Why It Matters: Last week, Tesla <a href="https://www.benzinga.com/government/24/04/38331377/tesla-recalls-over-3-800-cybertrucks-citing-unintended-acceleration-risk">recalled 3,878 Cybertruck vehicles </a>over concerns of unintentional acceleration.
The company said in a filing with the National Highway Traffic Safety Administration that the accelerator pedal pad on the affected vehicles may dislodge and become trapped by the interior trim above the pedal, thereby causing it to accelerate without the driver intending to.
As for a solution, the company said it would replace or repair the accelerator pedal assembly, free of charge to the customer.
The company is currently attempting to ramp up production of the Cybertruck, <a href="https://www.benzinga.com/news/24/04/38396608/tesla-exec-says-1-000-cybertrucks-a-week-prove-4680-cell-production-isnt-a-bottleneck-we-expect-to-s">aiming to deliver 250,000 units</a> in a year by 2025. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More: <a href="https://www.benzinga.com/news/24/04/38453221/another-blow-to-tesla-hertzs-ev-disposal-plan-jumps-by-10k-as-car-rental-company-aims-for-95-gas-pow">Another Blow To Tesla? Hertz&#8217;s EV Disposal Plan Jumps By 10K As Car-Rental Company Aims For 95% Gas-Powered Fleet By Year-End</a>
Photo via Shutterstock

TSLA

Tesla Cybertruck Races World War 2-Era Fighter Plane At Orlando Air Show  — Did It Win?

WIIM

Healthpeak Properties shares are trading higher after the company reported better-than-expected Q1 financial results and raised its FY24 guidance.

Every day, we hear about new technological breakthroughs, and it seems that there isn't much out there that cannot be explained. Consider this: there's a billionaire who is ready to establish colonies on Mars, an entirely different planet. If that isn't absolutely bizarre, then what is?
This makes it even more interesting and surprising that some marvels in the world still remain a mystery to us. So, bring out your inner Indiana Jones, and let's explore things that continue to remain an enigma for us.
The Great Pyramids Of Giza: Wizards Made Them Or Aliens?
Pyramids are well-documented archaeological structures that have stood the test of time for more than 4,500 years, yet still leave us in awe. There are so many conspiracy theories surrounding them that may sound ludicrous. Were ancient Egyptians engineering wizards, or did extraterrestrial entities lend a hand? We don't know, and the plot continues to thicken faster than a pyramid's walls.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="701" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26060451/shutterstock_1395519593-1024x701.jpg" alt="" class="wp-image-310421" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26060451/shutterstock_1395519593-1024x701.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26060451/shutterstock_1395519593-300x205.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26060451/shutterstock_1395519593-768x526.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26060451/shutterstock_1395519593-1536x1051.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26060451/shutterstock_1395519593.jpg 1578w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Pyramids Of Giza Image Via Shutterstock</figcaption></figure>
Stonehenge: Can They&nbsp;Really&nbsp;Heal You?
Okay! Picture this: giant uneven-shaped stones standing tall in the English countryside, positioned in a circle — doesn't it feel like something straight out of a show based on Vikings? But it's very real and very mysterious. Some people think it has astronomical observatory-related purposes, others think it is a hotspot for ancient rituals or a burial ground. There is also a myth which says these stones have mystical healing powers. The truth still remains uncovered.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="313" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26060333/shutterstock_1911133681-1024x313.jpg" alt="" class="wp-image-310413" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26060333/shutterstock_1911133681-1024x313.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26060333/shutterstock_1911133681-300x92.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26060333/shutterstock_1911133681-768x234.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26060333/shutterstock_1911133681-1536x469.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26060333/shutterstock_1911133681.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Stonehenge in England Image Via Shutterstock</figcaption></figure>
See Also:<a href="https://www.benzinga.com/general/entertainment/24/04/38428409/i-tried-apps-like-tinder-and-bumble-but-they-did-nothing-for-me-instead-these-5-things-help"> I Tried Apps Like Tinder And Bumble But They Did Nothing For Me, Instead These 5 Things Helped Me Up My Dating Game</a>
The Nazca Lines:&nbsp;We Might Know Who Was The Painter But For What Purpose?
These ancient geoglyphs in Peru, which include geometrical and animal symbols like birds, spiders, and monkeys, etched into the desert are said to have been made by the Nazca people. They are clearly visible from an aerial point of view, but scientists have yet to decipher their purpose. What's really baffling is that these designs spread across around 19 square miles are made with such precision that we are compelled to ask, are we truly the most advanced generation?
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="683" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26060528/shutterstock_745634815-1024x683.jpg" alt="" class="wp-image-310425" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26060528/shutterstock_745634815-1024x683.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26060528/shutterstock_745634815-300x200.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26060528/shutterstock_745634815-768x512.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26060528/shutterstock_745634815-1536x1024.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26060528/shutterstock_745634815.jpg 1620w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">The Nazca Lines Image Via Shutterstock</figcaption></figure>
The Moai Statues: The Guardian Angel With No Legs?
These mysterious statues are made of giant stones, but they appear to have been guarding Easter Island in Chile for centuries. The question is, how were they carved and moved into place, considering they are all over the island and some appear to be positioned systematically? According to reports, these statues were made by the Rapa Nui people, but they carved them from volcanic rock weighing up to 75 tons. Were the people who made them bigger than the statues? Are they even humans? We're still dialing in on the answer.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="681" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26060723/shutterstock_23780557-1024x681.jpg" alt="" class="wp-image-310427" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26060723/shutterstock_23780557-1024x681.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26060723/shutterstock_23780557-300x200.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26060723/shutterstock_23780557-768x511.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26060723/shutterstock_23780557-1536x1021.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26060723/shutterstock_23780557.jpg 1624w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">The Moai Statues. Image Via Shutterstock</figcaption></figure>
The Antikythera Mechanism: Arguably The World's First Computer But For What?&nbsp;
Just around 2,000 years old, this mechanism is arguably the world's first computer, but scientists still cannot agree on its purpose. Was it used to track the cycles of the Olympic games? Or does it have astronomical and astrological field-related use cases? While scientists aren't sure about that, they are very interested to know (just like us) how advanced Greek innovators were at that time. Or was it a time traveler?
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="690" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26060828/shutterstock_2211299503-1024x690.jpg" alt="" class="wp-image-310430" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26060828/shutterstock_2211299503-1024x690.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26060828/shutterstock_2211299503-300x202.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26060828/shutterstock_2211299503-768x517.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26060828/shutterstock_2211299503-1536x1035.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/26060828/shutterstock_2211299503.jpg 1603w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">The Antikythera Mechanism. Image Via Shutterstock</figcaption></figure>
Read Next: <a href="https://www.benzinga.com/general/entertainment/24/04/38208374/15-ingredients-you-can-pick-up-from-the-supermarket-shelf-to-up-your-indian-food-game">Want To Up Your Indian Food Game? Here Are 15 Ingredients I Recommend That Would Wow Your Family And Friends</a>

Entertainment

Education

Global

5 Ancient Mysteries That Continue To Baffle Scientists Despite All The Advancements In Tech

Benchmark analyst Mark Miller upgrades Western Digital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>) from Hold to Buy and announces $85 price target.

Upgrades

Price Target

Analyst Ratings

Benchmark Upgrades Western Digital to Buy, Announces $85 Price Target

Agnico Eagle Mines shares are trading higher after the company reported better-than-expected Q1 financial results.

ResMed shares are trading higher after the company reported better-than-expected Q3 financial results.

PINS

Pinterest shares are trading higher in sympathy with Snap, which reported better-than-expected Q1 financial results and issued Q2 revenue guidance above estimates

NatWest Group shares are trading higher. The company reported Q1 financial results.

SAIA

Saia Says Company's Executive Vice President And Chief Financial Officer, Douglas Col, Plans To Retire After 10 Years, Including Last Four Years At Company;  Col To Maintain Positions Until Company Announces Successor

Stifel analyst Brad Reback maintains Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) with a Buy and raises the price target from $455 to $475.

MSFT

Stifel Maintains Buy on Microsoft, Raises Price Target to $475

Barclays analyst Matthew Bouley maintains Anywhere Real Estate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOUS#NYSE">HOUS</a>) with a Underweight and lowers the price target from $5 to $4.5.

HOUS

Barclays Maintains Underweight on Anywhere Real Estate, Lowers Price Target to $4.5

SNAP

Snap shares are trading higher after the company reported better-than-expected Q1 financial results and issued Q2 revenue guidance above estimates. Also, the company reported a year-over-year increase in Q1 daily active users.

Stifel analyst J. Bruce Chan downgrades Knight-Swift (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNX#NYSE">KNX</a>) from Buy to Hold and lowers the price target from $53 to $47.

Downgrades

Stifel Downgrades Knight-Swift to Hold, Lowers Price Target to $47

Barclays maintains Accolade (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACCD#NASDAQ">ACCD</a>) with a Equal-Weight and lowers the price target from $13 to $11.

ACCD

Barclays Maintains Equal-Weight on Accolade, Lowers Price Target to $11

ABBV

AbbVie shares are trading higher after the company reported better-than-expected Q1 financial results and raised its FY24 adjusted EPS guidance above estimates.

HSBC analyst Mohammed Khallouf upgrades Snap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) from Reduce to Hold.

HSBC Upgrades Snap to Hold

&#8220;Mad Money&#8221; host Jim Cramer pointed out the disproportionate coverage of Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38381758/jim-cramer-weighs-in-after-iphone-sales-reportedly-plummet-19-in-china-in-q1-anothe">&#8220;losing leadership&#8221;</a> compared to Alphabet Inc.&#8217;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 and Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) post their &#8220;spectacular quarters.&#8221;
What Happened: On Friday, Cramer took to X, formerly Twitter, to express his observation. He noted the abundance of articles discussing Apple&#8217;s recent struggles with <a href="https://www.benzinga.com/markets/equities/24/03/37872817/apple-says-dangerous-doj-lawsuit-threatens-who-we-are-vows-to-fight-against-it">antitrust regulations</a> and its latest product, Vision Pro, while <a href="https://www.benzinga.com/news/earnings/24/04/38445001/alphabet-q1-earnings-revenue-beat-eps-beat-70b-buyback-first-ever-dividend-ai-leadership-and-more">Google</a> and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38453639/another-picasso-like-performance-top-tech-analyst-praises-satya-nadella-says-micros">Microsoft&#8217;s remarkable quarterly results</a> barely made the news.
His post came after Alphabet and Microsoft released their earnings reports, both of which exceeded analyst expectations, while Apple&#8217;s iPhone sales in China plunged.
&#8220;There are hundreds of articles about Apple losing leadership but Google and Microsoft can barely buy an inch of ink after some spectacular quarters&#8230;&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">There are hundreds of articles about Apple losing leadership but Google and Microsoft can barely buy an inch of ink after some spectacular quarters&#8230;
&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1783774623689011385?ref_src=twsrc%5Etfw">April 26, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/24/04/38392548/ups-earnings-show-the-weight-of-170-000-salaries-while-it-learns-to-navigate-shipping-slump?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">UPS Earnings Show The Weight Of $170,000 Compensation While It Learns To Navigate Shipping Slump</a>
Apple&#8217;s iPhone sales in China nosedived 19.1% in the first three months of 2024, with its market share witnessing a significant decline to 15.7% from 19.7% a year ago, according to data from Counterpoint Research.
This is Apple&#8217;s worst performance since 2020, largely due to the impact of Huawei Technologies Co.'s new <a href="https://www.benzinga.com/markets/equities/24/04/38308198/apples-falling-iphone-sales-have-another-challenge-to-deal-with-as-huawei-launches-new-phones" target="_blank" rel="noreferrer noopener">product launches</a> in the premium segment. Huawei's sales surged by 70% in the same period.
Why It Matters: Wall Street is eagerly anticipating <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38378204/apple-is-a-top-stock-pick-for-2024-analyst-says-4-catalysts-to-look-for-in-next-ear">Apple&#8217;s upcoming Q2 earnings</a> report, with analysts highlighting the stock&#8217;s promising outlook. Meanwhile, <a href="https://www.benzinga.com/news/earnings/24/04/38444199/microsoft-q3-earnings-revenue-beat-eps-beat-new-era-of-ai-transformation-and-more">Microsoft</a> and Alphabet have already reported impressive Q3 and Q1 earnings, respectively, beating both top and bottom-line estimates for five consecutive quarters.
Price Action: On Thursday, Apple closed at $169.89, Alphabet Inc. at $157.95, and Microsoft at $399.04, as per<a href="https://pro.benzinga.com"> Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38384714/whats-going-on-with-trump-media-technology-stock-on-tuesday?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With Trump Media &amp; Technology Stock On Tuesday?</a>
Image via Shutterstock
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 <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Pooja Rajkumari</a> 
 
 
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Analyst Color

Equities

AAPL

GOOG

GOOGL

Jim Cramer Says 'There Are Hundreds Of Articles' About Apple Losing Top Spot In China: 'Google And Microsoft Can Barely Buy An Inch Of Ink After Some Spectacular Quarters'

Charter currently expects full year 2024 capital expenditures to total between&nbsp;$12.2 billion&nbsp;and&nbsp;$12.4 billion, including line extensions capital expenditures of approximately&nbsp;$4.5 billion&nbsp;and network evolution spend of approximately&nbsp;$1.6 billion, compared to&nbsp;$4.0 billion&nbsp;and&nbsp;$0.9 billion, respectively, in 2023.

Guidance

CHTR

Charter Communications Reiterated 2024 Capex Outlook of $12.2B–$12.4B

Software giant Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) reported Thursday after the market close <a href="https://www.benzinga.com/news/earnings/24/04/38444199/microsoft-q3-earnings-revenue-beat-eps-beat-new-era-of-ai-transformation-and-more">strong third-quarter results,</a> sending its stock higher. 
On Cloud Nine: Microsoft attributed the strong quarterly performance, primarily to its Cloud business. &#8220;This quarter Microsoft Cloud revenue was $35.1 billion, up 23% year-over-year, driven by strong execution by our sales teams and partners,&#8221; CFO Amy Hood said in a statement.
Microsoft&#8217;s Azure public cloud and other cloud services saw both GAAP and constant currency revenue growth of 31%.
Speaking on the earnings call, CEO Satya Nadella said, &#8220;Azure again took share as customers use our platforms and tools to build their own AI solutions.&#8221; He also noted that more than 65% of the Fortune 500 now use Azure OpenAI service.&nbsp;
Commenting on the Azure performance, Piper Sandler&#8217;s Brent Bracelin said the 31% growth exceeded the guidance for a 28% increase and reinforced his bullish view that Microsoft remained &#8220;best-positioned to monetize robust AI secular tailwinds while capitalizing on a first-mover advantage.&#8221;
Bracelin estimated that Azure AI contributed over a $5 billion annualized run rate. 
See Also: <a href="https://www.benzinga.com/money/best-artificial-intelligence-stocks">Best Artificial Intelligence Stocks</a>
Ancillary Beneficiaries: Calling Snowflake, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) and MongoDB, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDB#NASDAQ">MDB</a>) as &#8220;Azure upside derivatives to watch,&#8221; Bracelin said these two companies have the most indirect exposure to consumption activity trends across the Cloud Titan cohort.
&#8220;Majority of revenue for SNOW is consumption-based while about 66% of revenue mix for MDB is consumption-based,&#8221; he said.
Bozeman, Montana-based Snowflake is a data-as-a-service company — backed by <a href="https://www.benzinga.com/news/large-cap/23/08/33611401/in-ai-we-trust-warren-buffett-sent-46-7-of-berkshire-hathaways-portfolio-there">Warren Buffett&#8216;s Berkshire Hathway</a> — offering a cloud-based data storage and analytics service and New York-based MongoDB is a provider of commercial support for the source-available database engine MongoDB.
In premarket trading on Friday, Snowflake rose 3.19% to $157.37&nbsp;and MongDB climbed 3.55% to $379.13, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a> Microsoft rallied 4.34% to $416.34.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/04/38455462/wall-street-futures-ride-high-on-microsoft-alphabet-cheer-but-will-inflation-data-burst-the-bubble-">Wall Street Futures Ride High On Microsoft, Alphabet Cheer, But Will Inflation Data Burst The Bubble? Why This Analyst Thinks Bull Run Isn&#8217;t Over Yet</a>
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Long Ideas

Trading Ideas

SNOW

Microsoft's Azure Strength Could Rub Off On This Warren Buffett-Backed Stock And Another Big Cloud Player, Says Analyst

RareX