Retail Food Gr (OTC:RFGPF) Stock, Quote.Headers.trade-ideas

Retail Food Group Ltd owns, operates, and franchises restaurants primarily located in Australia. Retail Food Group's brands include Donut King, Michel's Patisserie, Brumby's Bakery, Esquires Coffee Houses, Gloria Jean's Coffees, Pizza Capers Gourmet Kitchen, and Crust Gourmet Pizza. The company generates roughly half its revenue from restaurants that it directly operates. Its major source of revenue is from franchise agreements. The Group's primary revenue streams include revenue from the sales of goods, revenue from the sale of franchise agreements, revenue from the sale of distribution rights, operating lease income, and other sources. Its segments are Cafe, Coffee & Bakery, and Quick Service Restaurants (QSR) Sysytems, It generates maximum revenue from the Cafe, Coffee & Bakery segment.

RETAIL FOOD GROUP LTD by Retail Food Group Ltd

Retail Food Group Ltd

Transaction highlights:
<ul>
<li>Expands Bel&#39;s exposure to the aerospace and defense end market from&nbsp;17.5%&nbsp;to&nbsp;31%&nbsp;of total revenue, based on LTM&nbsp;Q2&nbsp;2024</li>
<li>Enercon gross margin of&nbsp;46.0%&nbsp;and Adjusted EBITDA margin of&nbsp;32.5%&nbsp;for LTM&nbsp;Q2&nbsp;2024, ahead of Bel&#39;s historical margin profile</li>
<li>Expected to be accretive to Bel&#39;s GAAP EPS within one-year post-close, and to Bel&#39;s non-GAAP EPS on Day 1</li>
<li>Expected net leverage of under 2.0x within one quarter from close, as T-bills mature</li>
</ul>

News

BELFA

Reported Earlier, Bel Fuse To Acquire 80% Stake In Enercon Technologies For $320M, Expanding Aerospace And Defense Portfolio

A Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) bull on Wednesday weighed in on the relationship between the electric-vehicle company led by Elon Musk and the <a href="https://www.benzinga.com/news/24/09/40767621/elon-musk-refutes-reports-of-xai-negotiating-revenue-share-deal-with-tesla-there-is-no-need-to-licen">billionaire&#8217;s artificial intelligence company xAI. </a>
The Tesla Analyst: Morgan Stanley analyst Adam Jonas reiterated an Overweight rating and $310 price target for Tesla shares. 
The Tesla Thesis: Training and simulation are the common denominators between Tesla and xAI, and these two are &#8220;deterministic&#8221; to Tesla&#8217;s future in robotics, autonomy and manufacturing, said Jonas in a note. AI execution is vital to Tesla&#8217;s upside, the analyst said, adding that the Musk-led company&#8217;s future valuation is highly dependent on its ability to develop, manufacture and commercialize autonomous technologies, ranging from transportation to humanoids.
The analyst also noted that training and simulation have been revolutionizing robots as accessing supercomputing resources for training and simulation is critical to optimizing autonomous software/models and hardware.
He said that xAI was established to attract top-tier AI talent who might not otherwise be interested in working for Tesla, the electric vehicle company. The AI company is investing billions of dollars toward assembling advanced computing resources which is beneficial to Tesla, he added.
Jonas noted that xAI&#8217;s massive compute cluster named Colossus has recently been brought online in the Memphis area, and it consists of 100,000 Nvidia Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) H100s. Musk plans to double it to 200,000 H100 equivalent, he said.
Tesla&#8217;s rival in robotaxi operations, 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>) Waymo, has been aggressively expanding its fleet size, city deployments and technological/ network partnerships of late, Jonas said. &#8220;Waymo's recent resurgence is a reminder to investors that the road to AV supremacy is a race for data, computing, capital and talent,&#8221; he said.
See Also: <a href="https://www.benzinga.com/money/how-to-buy-tesla-stock">How To Buy Tesla (TSLA) Stock</a>
Sneak-Peek Into Robotaxi Day: Jonas raised doubts about Tesla living up to investors&#8217; high expectations as he does not see anything beyond a demo of the FSD v12.5 software and a ride in a generation 1 Cybercab. The company could share a detailed analysis of the addressable market, showing &#8220;tens of trillions of passenger vehicle miles and tens of trillions of $ of potential recurrent revenue (by 2050),&#8221; the analyst said.
Looking ahead to the Oct. 10 event, the analyst said he would look out for reinforcement regarding safety, which can be through comparing the safety of Tesla&#8217;s autonomous vehicle technology with human driving. Tesla may also have to show the rate of change of performance across recent full self-driving iterations, he said.
Investors will also look forward to the methodology, i.e. how the critical enabling technologies will likely drive further improvement in FSD/Cybercab autonomy, Jonas said. The Morgan Stanley analyst, however, does not expect Tesla to announce updates regarding its<a href="https://www.benzinga.com/news/24/07/39880470/elon-musk-pushes-back-optimus-timeline-says-teslas-humanoid-robot-will-hopefully-be-available-for-ot"> Optimus humanoid robot</a> at the event.
Tesla ended Wednesday&#8217;s session down 0.29% to $227.20, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
Check out more of Benzinga&#8217;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 Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40750932/tesla-bull-asks-investors-to-temper-expectations-concerning-robotaxi-day-but-reiter">Tesla Bull Asks Investors To Temper Expectations Concerning Robotaxi Day, But Reiterate Stock As Top Auto Pick: &#8216;Continues To Take Steps To Mitigate Downside Risks&#8217;</a></li>
</ul>
Image via Shutterstock

Analyst Color

Equities

Reiteration

Analyst Ratings

GOOG

GOOGL

NVDA

TSLA

Tesla Bull Explains Why Elon Musk's xAI Is Critical To EV Maker's Autonomous Ambitions

Editor's Note: This story has been updated with a statement from Telegram.
French prosecutors have placed Pavel Durov, CEO of Telegram, under formal investigation using a stringent new cybercrime law.
What Happened: The LOPMI law, enacted in January 2023, criminalizes tech executives whose platforms facilitate illegal activities. This marks the first significant use of the law, which has yet to secure a conviction. Durov faces charges including &#8220;complicity in the administration of an online platform to allow an illicit transaction, in an organized gang,&#8221; carrying a potential 10-year sentence and a €500,000 fine, Reuters reported on Tuesday.
Being under formal investigation does not imply guilt but indicates sufficient evidence for a probe. Durov, who is out on bail, denies the allegations, asserting that Telegram complies with EU laws. Telegram has called the accusations &#8220;absurd.&#8221;
Paris Prosecutor Laure Beccuau praised the 2023 law in a recent radio interview, highlighting its effectiveness against organized crime operating online. The law is unique, with no known international equivalent, according to experts.
See Also: <a href="https://www.benzinga.com/news/24/09/40870369/trumps-i-hate-taylor-swift-met-with-witty-response-from-harris-campaign-the-american-people-want-to?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s &#8216;I Hate Taylor Swift&#8217; Met With Witty Response From Harris Campaign: &#8216;The American People Want ToBe Out Of The Woods&#8217;</a>
The case against Durov is significant as it tests the boundaries of the new LOPMI law, which aims to hold tech executives accountable for illegal activities conducted on their platforms. The law&#8217;s effectiveness and international implications are being closely watched by legal experts and tech companies worldwide.
Why It Matters: The investigation into Durov follows a series of legal challenges for the Telegram CEO. On Aug. 26, Paris Public Prosecutor Laure Beccuau <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40558693/telegram-ceo-pavel-durov-faces-12-serious-charges-french-prosecutor-reveals">released a detailed statement </a>outlining 12 serious charges against Durov, including complicity in facilitating illegal online transactions, unauthorized provision of cryptology services, and involvement in child pornography distribution, drug-related offenses, organized fraud, and money laundering. 
In response to these mounting legal pressures, Telegram had reportedly<a href="https://www.benzinga.com/news/24/09/40745251/telegram-updates-policy-on-private-chat-moderation-after-ceo-pavel-durovs-arrest-heres-what-you-need"> updated its policy</a> on private chat moderation. In September, the company retracted a statement from its FAQ page that previously assured users of immunity from moderation requests in private chats. This move came after Durov&#8217;s first public statement post-arrest, where he committed to improving content moderation on the platform.
However, a spokesperson from Telegram highlighted that the update to the FAQs was made only to clarify how to report content on Telegram, including under the EU Digital Services Act and the retracted statement was not related to content reporting.
The spokesperson also mentioned that reporting messages from any group to the moderators has always been possible, which functions as a forwarding option. 
&#8220;Private chats remain private, although it has always been possible to report a new incoming chat to the moderators using the Block > Report option,&#8221; the person informed <a href="https://pro.benzinga.com">Benzinga</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40869086/trump-vs-harris-new-poll-reveals-post-debate-swing-towards-this-candidate-in-key-state?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs Harris: New Poll Reveals Post-Debate Swing Towards This Candidate In Key State</a></li>
</ul>
Image via Flickr/ Hubert Burda Media
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>

Social Media

Politics

General

Telegram CEO Pavel Durov Faces 10-Year Sentence and €500K Fine In France's First Cybercrime Case Under New Law (UPDATED)

The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, with the index in the &#8220;Greed&#8221; zone on Wednesday.
U.S. stocks settled lower on Wednesday, following the Federal Reserve&#8217;s interest rate decision. The U.S. central bank slashed interest rates by 50 basis points Wednesday at its September Federal Open Market Committee meeting, lowering the federal funds rate to a range of 4.75% to 5%. This marks the first rate cut in over four years and breaks a streak of 12 consecutive months with rates held steady.
On the economic data front, housing starts in the U.S. climbed by 9.6% from the prior month to an annualized rate of 1.356 million units for August. U.S. building permits gained by 4.9% to an adjusted annual rate of 1.475 million in August.
General Mills, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) reported better-than-expected earnings for its first quarter on Wednesday.
Most sectors on the S&amp;P 500 closed on a negative note, with consumer staples, utilities, and information technology stocks recording the biggest losses on Wednesday. However, energy and communication services stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 104 points to 41,503.10 on Wednesday. The S&amp;P 500 fell 0.29% to 5,618.26, while the Nasdaq Composite fell 0.31% at 17,573.30 during Wednesday's session.
Investors are awaiting earnings results from Darden Restaurants, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>), FactSet Research Systems Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDS#NYSE">FDS</a>), and FedEx Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 56.2, the index was in the &#8220;Greed&#8221; zone on Wednesday, versus a prior reading of 55.9.
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: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/09/40927530/coinbase-global-electronic-arts-and-2-other-stocks-executives-are-selling">Coinbase Global, Electronic Arts And 2 Other Stocks Executives Are Selling</a></li>
</ul>

Earnings

Pre-Market Outlook

Markets

Trading Ideas

Dow Tumbles Over 100 Points Following Fed's Rate Decision: Fear & Greed Index In 'Greed' Zone

HESM

Reported Earlier, Hess Midstream Prices Upsized Secondary Public Offering Of 11M Class A Shares

<ul>
<li>Urges Stockholders to Vote FOR the CSG Transaction at September 27th&nbsp;Special Meeting to Maximize the Value of The Kinetic Group</li>
<li>Vista Outdoor Inc. (&quot;Vista Outdoor&quot;, the &quot;Company&quot;) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSTO#NYSE">VSTO</a>) today issued the following statement from the Company&#39;s Chairman of the Board, Michael Callahan:</li>
<li>We are committed to continuing to explore all opportunities to maximize the value of Revelyst, including a potential sale.&nbsp;</li>
</ul>

VSTO

Reported Earlier, Vista Outdoor Board Committed To Maximizing Revelyst's Value, Including Potential Sale Amid CSG Transaction Vote

Greenfire Resources Appoints Interim Chairman, Adopts Shareholder Rights Plan Following Waterous Energy Fund's Acquisition Agreement

With U.S. stock futures trading higher this morning on Thursday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Darden Restaurants, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) to report quarterly earnings at $1.83 per share on revenue of $2.8 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Darden shares fell 0.2% to $158.77 in after-hours trading.</li>
<li>Steelcase Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCS#NYSE">SCS</a>) reported better-than-expected earnings for its second quarter, while <a href="https://www.benzinga.com/news/earnings/24/09/40929014/steelcase-stock-falls-after-q2-revenue-miss-details">sales missed estimates</a>. The company said it sees third-quarter revenue in a range of $785 million to $810 million and adjusted earnings of between 21 cents and 25 cents per share. Steelcase shares dipped 11.5% to $12.49 in the after-hours trading session.</li>
<li>Analysts are expecting FactSet Research Systems Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDS#NYSE">FDS</a>) to post quarterly earnings at $3.62 per share on revenue of $546.81 million for the recent quarter. The company will release earnings before the markets open. FactSet Research shares gained 0.4% to $448.44 in the after-hours trading session.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Exicure Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XCUR#NASDAQ">XCUR</a>) announced that it received an extension from the Nasdaq Hearings Panel. Exicure shares jumped 168.1% to $6.14 in the after-hours trading session.</li>
<li>Analysts expect FedEx Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) to post quarterly earnings at $4.80 per share on revenue of $21.96 billion after the closing bell. FedEx shares gained 0.5% to $299.79 in after-hours trading.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/09/40927530/coinbase-global-electronic-arts-and-2-other-stocks-executives-are-selling">Coinbase Global, Electronic Arts And 2 Other Stocks Executives Are Selling</a></li>
</ul>
Photo via Wikimedia Commons

XCUR

Darden Restaurants, FedEx And 3 Stocks To Watch Heading Into Thursday

NVIDIA Corp&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) key supplier for high-bandwidth memory chips SK Hynix (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HXSCF#OTC">HXSCF</a>) declined over 6% on the South Korean exchange after Morgan Stanley&nbsp;downgraded the Korean memory chipmaker to underweight from overweight. 
What Happened: Morgan Stanley in a brokerage note slashed SK Hynix&#8217;s target price to 120,000 won from 260,000 won, citing the least preference for the stock among global memory makers, <a href="https://www.bloomberg.com/news/articles/2024-09-19/sk-hynix-shares-tumble-on-double-downgrade-at-morgan-stanley">reported</a> Bloomberg on Thursday.
"We prefer moving up to quality in Samsung and value-oriented end markets," wrote analysts Shawn Kim and Duan Liu. "Memory conditions are beginning to deteriorate. It will get tougher for revenue growth and margins from here as we move past late-cycle conditions."
The stock hit its lowest level since Feb. 19 after falling as much as 10%. Meanwhile, Samsung Electronics Co (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) saw a 3.1% decline among other semiconductor shares traded in Seoul.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40878978/donald-trump-to-visit-springfield-ohio-soon-not-so-fast-polymarket-traders-say?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump To Visit Springfield, Ohio ‘Soon'? Not So Fast, Polymarket Traders Say</a>
Why It Matters:&nbsp;In July, Goldman Sachs Group Inc. increased SK Hynix&#8217;s stock-price target to 290,000 won ($210), indicating a potential gain of 25%. Meanwhile, Citigroup Inc. raised its prediction to 350,000 won during the same period. 
SK Hynix's parent company,&nbsp;SK Group, pledged to<a href="https://www.benzinga.com/news/24/07/39575498/nvidia-suppliers-parent-company-pledges-56b-investment-in-ai-chip-tech-by-2026-as-competition-from-s" target="_blank" rel="noreferrer noopener">&nbsp;invest 80 trillion won</a>&nbsp;($56 billion) by 2026 in artificial intelligence and semiconductors, primarily in high-bandwidth memory chips, data centers, and personalized AI assistant services. This move is expected to strengthen its supply chains for emerging technology and bolster its position as a leading supplier to Nvidia.
The ongoing AI boom has put two South Korean chipmakers,&nbsp;Samsung&nbsp;and&nbsp;SK Hynix, in the spotlight. Industry experts are now discussing which company is the better investment in <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38634543/ai-boom-puts-nvidia-suppliers-sk-hynix-samsung-in-spotlight-experts-discuss-best-so">this AI-driven market</a>.
Price Action: SK Hynix&nbsp;is currently trading at 151,800 won, with a decline of 6.76% on Thursday. The stock has gained 6.60% year-to-date, according to <a href="https://www.benzinga.com/pro/login">data from Benzinga Pro</a>.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40913998/jamie-dimon-says-jpmorgan-is-likely-one-of-the-bigger-users-of-blockchain-technology-but-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jamie Dimon Says JPMorgan Is Likely ‘One Of The Bigger Users' Of Blockchain Technology, But Calls Cryptocurrencies A ‘Pet Rock'</a></li>
</ul>
Image via SK Hynix
<a href="https://www.benzinga.com/quote/ssnlf" target="_blank" rel="noreferrer noopener"></a>

Asia

HXSCF

SSNLF

Nividia Supplier SK Hynix Shares Drop To Lowest Level Since February In Seoul After Morgan Stanley Downgrade: 'Memory Conditions Are Beginning To Deteriorate'

Pioneering seven-figure deal expands BlackSky&#39;s product offering, bringing automation and unprecedented speed to pattern-of-life insights for orbiting spacecraft and other objects of interest

Contracts

BlackSky Technology Inc. Class A Common Stock

BKSY

BlackSky Secures Seven-Figure Space Domain Awareness Contract With HEO

Tesla and SpaceX CEO Elon Musk&#8217;s social media platform, X, formerly Twitter, had managed to temporarily bypass a <a href="https://www.benzinga.com/news/24/08/40664929/brazil-judge-bans-x-after-months-long-feud-threatens-fines-of-nearly-9k-per-day-on-users-who-try-to">ban in Brazil</a> with the help of an automatic update of its software.
What Happened: On Wednesday, the Brazilian Association of Internet and Telecommunications Providers, or ABRINT, said that X has modified its structure to use IP addresses associated with Cloudflare.
This alteration has made it difficult to block X in Brazil.
According to ABRINT, the new IP addresses used by X are shared with other legitimate services, including banks and large internet platforms "making it impossible to block an IP without affecting other services."
See Also: <a href="https://www.benzinga.com/news/24/09/40897716/elon-musk-reacts-after-mark-cuban-says-he-would-buy-x-in-a-heartbeat">Elon Musk Reacts After Mark Cuban Says He Would Buy X &#8216;In A Heartbeat&#8217;</a>
In a <a href="https://www.bloomberg.com/news/articles/2024-09-18/elon-musk-s-x-bypasses-brazil-ban-through-a-software-update">statement</a> to Bloomberg, the social media platform said that the restored access was "inadvertent and temporary," in Brazil. This happened after the company switched network providers following the ban.
"While we expect the platform to be inaccessible again in Brazil soon, we continue efforts to work with the Brazilian government to return very soon for the people of Brazil," the X spokesperson said.
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.
Why It Matters: The ban on X was ordered by Brazilian Supreme Court Justice Alexandre de Moraes after the tech mogul refused to <a href="https://www.benzinga.com/news/24/08/40623911/brazilian-supreme-court-tells-elon-musk-to-appoint-legal-representative-for-x-in-24-hours-or-face-su">appoint a legal representative</a> in the country.
According to local media in Brazil, following the restored access, the court has asked Brazil&#8217;s telecoms regulator, Anatel, to explain the unauthorized access of X, the report noted
Previously, it was reported that the ban on X could impact <a href="https://www.benzinga.com/news/24/09/40709109/elon-musks-brazil-standoff-for-x-could-impact-tesla-spacex-and-other-ventures-warns-expert">Musk's other ventures</a> including SpaceX and Tesla.
Last week, it was reported that the Brazilian Supreme Court has lifted the freeze on Starlink and X&#8217;s finances after the <a href="https://www.benzinga.com/24/09/40864550/brazils-supreme-court-lifts-freeze-on-starlink-and-xs-finances-after-elon-musks-companies-cough-up-3">tech mogul paid $3.3 million in fines</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/09/40917216/elon-musk-says-warren-buffett-is-positioning-for-kamala-harris-win-with-his-277b-cash-pile-as-pr">Elon Musk Says Warren Buffett Is Positioning For Kamala Harris Win With His $277B Cash Pile As Pro-Trumper John Paulson Warns Of Equity Market Exit</a></li>
</ul>

Tech

Media

Elon Musk's X Manages To Dodge Brazil Ban With Software Update, Court Wants An Explanation

<ul>
<li>ADHERE was largest and most innovative clinical trial of CIDP patients to date</li>
<li>VYVGART&reg;&nbsp;Hytrulo (efgartigimod alfa and hyaluronidase-qvfc) demonstrated reduction in disease progression, reduced risk of relapse and rapid onset of action</li>
<li>VYVGART Hytrulo is first and only neonatal Fc receptor (FcRn) blocker FDA-approved to treat CIDP</li>
</ul>

ARGX

argenx's ADHERE Study Published In The Lancet Neurology, Showcasing VYVGART Hytrulo's Impact On Reducing CIDP Relapse And Disease Progression

Elon Musk&#8216;s <a href="https://www.benzinga.com/news/24/09/40916098/elon-musks-spacex-launches-90th-mission-in-2024-with-over-a-third-of-launch-target-still-to-go">rocket manufacturing company</a> SpaceX on Wednesday tested the engines of its Starship launch vehicle for its sixth flight test, even while its fifth flight&#8217;s timeline remains uncertain.
What Happened: The company took to social media platform X to share pictures and videos from the static fire test. During a static fire test, the two-stage rocket&#8217;s first-stage engines are ignited but it does not leave the launchpad.
&#8220;Six engine static fire of Flight 6 Starship,&#8221; the company wrote.
<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">Six engine static fire of Flight 6 Starship <a href="https://t.co/fzJz9BWBn6">pic.twitter.com/fzJz9BWBn6</a>
&mdash; SpaceX (@SpaceX) <a href="https://twitter.com/SpaceX/status/1836606716282311166?ref_src=twsrc%5Etfw">September 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Earlier this month, SpaceX said that Starship has been&nbsp;<a href="https://www.benzinga.com/news/24/08/40305893/starship-fifth-flight-delayed-spacex-ceo-elon-musk-gives-fresh-august-end-timeline" target="_blank" rel="noreferrer noopener">ready for its fifth flight test</a>&nbsp;since the first week of August but has been put off owing to "frivolous" and "patently absurd" licensing issues.
"Unfortunately, we continue to be stuck in a reality where it takes longer to do the government paperwork to license a rocket launch than it does to design and build the actual hardware," SpaceX said.
The company said that it recently received a launch license date estimate of late November for the fifth flight from the Federal Aviation Administration (FAA), marking a two-month delay from the previously communicated date of mid-September.
The delay, SpaceX said, was not based on a new safety concern but on "superfluous" environmental analysis including concerns about the Starbase facility having a negative impact on local flora and fauna. However, the company disputed these claims.
&#8220;Flight 5 is built and ready to fly. Flight 6 will be ready to fly before Flight 5 even gets approved by FAA!&#8221; SpaceX CEO Elon Musk said on Thursday.
<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">Flight 5 is built and ready to fly. Flight 6 will be ready to fly before Flight 5 even gets approved by FAA! <a href="https://t.co/wh7z0zjqR6">https://t.co/wh7z0zjqR6</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1836639170300666277?ref_src=twsrc%5Etfw">September 19, 2024</a></blockquote>
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</figure>
Past Flight Tests:&nbsp;SpaceX has conducted four flight tests with the Starship thus far.
SpaceX&nbsp;<a href="https://www.benzinga.com/news/24/06/39226248/elon-musk-outlines-future-starship-goals-after-successful-fourth-flight-test" target="_blank" rel="noreferrer noopener">last launched Starship</a>&nbsp;in the first half of June. During the test, the two stages of the vehicle – the Starship spacecraft and the Super Heavy booster – separated, and the booster subsequently had a soft splashdown in the Gulf of Mexico. The spacecraft ignited its engines and went into space, made a controlled re-entry to Earth, and had a soft splashdown in the Indian Ocean.
The entire flight lasted one hour and six minutes from launch. The key object of the flight was to re-enter Earth and the mission achieved it while withstanding damage to the vehicle.
The flights before accomplished less. While the spacecraft failed to reach space in the first flight, it reached space and exploded in the second test flight. During the third flight test, the spacecraft broke apart when re-entering Earth's atmosphere from space.
Upcoming Flight:&nbsp;The two-stage Starship is touted as the world&#8217;s most powerful launch vehicle, standing 121 meters tall and weighing approximately 5,000 tonnes. For the upcoming flight, SpaceX's goal is to&nbsp;catch Starship's&nbsp;<a href="https://www.benzinga.com/news/24/06/39543299/spacex-preparing-to-catch-starship-booster-at-starbase-during-next-test-flight-instead-of-splashing" target="_blank" rel="noreferrer noopener">booster stage back at Starbase</a>&nbsp;using the launch tower&#8217;s mechanical arms, marking a significant demonstration of Starship's reusability.
The company is relying on frequent test flights to test and enhance the capability of the vehicle. Musk said in March that Starship is expected to have at least six test flights this year. However, only two test flights have been completed to date in 2024.
Starship is key to NASA's dreams of taking humans back to the surface of the Moon.
NASA's Artemis 3 mission slated to launch no earlier than September 2026 is expected to enable humans to land back on the surface of the moon with the help of a lunar lander variant of the Starship spacecraft. The last time humans set foot on the Moon was in 1972&nbsp;<a href="https://www.benzinga.com/news/24/01/36692749/just-a-worse-version-of-apollo-elon-musk-baffled-by-nasa-veterans-push-to-ditch-spacex-blue-origin-a" target="_blank" rel="noreferrer noopener">with Apollo 17</a>. Since then, no crew has traveled beyond low-Earth orbit.
Musk, meanwhile, is eyeing<a href="https://www.benzinga.com/news/24/09/40770222/elon-musk-sets-2026-for-starships-first-uncrewed-mars-mission-targeting-successful-landing" target="_blank" rel="noreferrer noopener">&nbsp;taking humans to Earth's neighboring planet Mars</a>&nbsp;aboard the Starship. The first Starship launch to Mars, Musk said earlier this month, is expected in 2026 and will not have a crew on board.
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:
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<li><a href="https://www.benzinga.com/news/24/09/40917032/tesla-cybertruck-lead-engineer-warns-against-using-extension-cord-on-superchargers">Tesla Cybertruck Lead Engineer Warns Against Using Extension Cord On Superchargers</a></li>
</ul>
Photo courtesy: SpaceX

SPACE

SpaceX Continues To Prepare For Future Starship Flights Despite Delays In FAA Launch Clearance: Elon Musk Says 'Flight 6 Will Be Ready To Fly Before Flight 5 Even Gets Approved'

<ul>
<li>&ndash; Data from the CENTERSTONE study shows single-dose Xofluza reduces transmission of influenza from an infected person to household members &ndash;</li>
<li>&ndash; This is the first time that any antiviral used in the treatment of a respiratory&nbsp;viral illness has demonstrated a transmission reduction benefit in a global Phase III study &ndash;</li>
<li>&ndash;&nbsp;Reducing the spread of infection in the household could help limit transmission within communities and societies, easing the burden of both seasonal and pandemic influenza on healthcare systems &ndash;</li>
</ul>

RHHBF

RHHBY

RHHVF

Roche's Genentech Phase III CENTERSTONE Study Of Xofluza Demonstrates Reduction In Influenza Viruses Transmission

The provisional result amount to a net gain of CHF 9.8 million for the six-month period ended June 30, 2024 compared to a net loss of CHF 5.1 million for the six-month period ended June 30, 2023. The increase of CHF 14.9 million is primarily due to the gross proceeds of CHF 5.0 million received in cash from the sale of a part of Addex&#39;s business and the fair value of the&nbsp;20%&nbsp;equity interest in Neurosterix US holdings LLC received as part of the consideration and recorded at fair value of CHF 9.4 million on April 2, 2024. The cash position of the Group amounted to CHF 3.8 million as of June 30, 2024.

ADXN

Addex Therapeutics Turns Loss Into CHF 9.8M Profit For H1 2024 Following Sale To Neurosterix Pharma

Ahead of the 2024 presidential election, former President Donald Trump made headlines with a notable campaign stop in New York City.
What Happened: Former President Trump made a campaign stop at PubKey, a crypto-themed bar in New York, on Wednesday. Trump paid for smash burgers and Diet Cokes using Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), <a href="https://www.wsj.com/politics/elections/that-time-donald-trump-walked-into-a-bar-and-bought-a-round-using-bitcoin-92cf6dd0?mod=latest_headlines">reported</a> The Wall Street Journal.
Trump&#8217;s visit to PubKey, a popular spot among cryptocurrency enthusiasts, aimed to bolster his support from the crypto community. He declared the transaction as &#8220;history in the making&#8221; after using his iPhone to make the payment.
Mike Germano, president of Bitcoin Magazine, praised Trump, saying, &#8220;He's now one of us.&#8221; PubKey co-founder Andrew Newman called it a significant step in bitcoin history, emphasizing the movement behind the currency.
Trump, who once criticized bitcoin, has since embraced the industry. He has appeared at crypto conferences and received millions in campaign contributions made in cryptocurrencies. He promised a more favorable regulatory climate if re-elected.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40878978/donald-trump-to-visit-springfield-ohio-soon-not-so-fast-polymarket-traders-say?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump To Visit Springfield, Ohio &#8216;Soon&#8217;? Not So Fast, Polymarket Traders Say</a>
During the event, Trump reiterated his commitment to making the U.S. the &#8220;world capital for crypto and bitcoin.&#8221; He also pledged to halt work on central bank digital currencies and proposed creating a strategic national bitcoin stockpile and a bitcoin advisory council, according to the report.
PubKey also shared an image with Trump on X, captioning it: &#8220;One of the most historic transactions in #bitcoin history was just made.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">One of the most historic transactions in <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#bitcoin</a> history was just made. President <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a> buying burgers at <a href="https://twitter.com/PubKey_NYC?ref_src=twsrc%5Etfw">@PubKey_NYC</a> with <a href="https://twitter.com/tpacchia?ref_src=twsrc%5Etfw">@tpacchia</a>. Block height: 861871 You saw it here first. <a href="https://t.co/moHUIKDxej">pic.twitter.com/moHUIKDxej</a>
&mdash; PUBKEY (@PubKey_NYC) <a href="https://twitter.com/PubKey_NYC/status/1836510708634390680?ref_src=twsrc%5Etfw">September 18, 2024</a></blockquote>
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Why It Matters: Trump&#8217;s evolving stance on <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40905315/donald-trumps-new-crypto-project-world-liberty-financial-everything-you-need-to-know">cryptocurrency has been a significant shift</a>, especially given his previous criticisms. This transformation began to take shape earlier this year when he launched World Liberty Financial (WLFI), a decentralized finance platform centered around a crypto token. This move marked his formal embrace of blockchain technology.
Moreover, Trump has credited his <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40901067/i-was-blown-away-donald-trump-credits-sons-for-introducing-him-to-crypto-marvels-at-nft-co">sons for introducing him to the world of crypto</a>, particularly noting the success of his NFT collection. He expressed his surprise at how quickly the collection sold out, which further fueled his interest in the digital asset space.
In the political arena, Trump&#8217;s pro-crypto <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40919168/ethereum-co-founder-says-donald-trump-is-certainly-the-favorite-over-kamala-harris-for-cry">stance has garnered attention</a>. Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) co-founder Charles Hoskinson recently stated that Trump is &#8220;certainly the favorite&#8221; over Vice President Kamala Harris from a cryptocurrency perspective.
Additionally, Anthony Scaramucci, former White House Communications Director, has called for <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40916521/anthony-scaramucci-calls-for-bipartisan-crypto-regulation-applauds-donald-trump-for-coming">bipartisan crypto regulation</a>, applauding Trump for his newfound support of the industry. Scaramucci believes this shift could encourage Democrats to adopt a more favorable stance on cryptocurrency regulation.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40913998/jamie-dimon-says-jpmorgan-is-likely-one-of-the-bigger-users-of-blockchain-technology-but-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jamie Dimon Says JPMorgan Is Likely &#8216;One Of The Bigger Users&#8217; Of Blockchain Technology, But Calls Cryptocurrencies A &#8216;Pet Rock&#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>

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

Cryptocurrency

$BTC

Trump Pays Up For Smash Burgers And Diet Cokes With Bitcoin During New York Campaign Halt — Move Hailed As 'One Of The Most Historic Transactions'

Macro Economic Events

Econ #s

Economics

Reported Earlier, Australia Unemployment Rate For August Unchanged At 4.2%

Reported Earlier, Australia Full Employment Change For August -3.1K Vs. 64.7K (Revised) Prior

Reported Earlier, Australia Employment Change For August 47.5K Vs. 26.4K Est.; 48.9K (Revised) Prior

Speaker Mike Johnson (R-La.) claimed on X that Federal Reserve Chairman Jerome Powell admitted President Joe Biden and Vice President Kamala Harris&#8216; administration&#8217;s immigration policies are contributing to higher unemployment rates. Powell&#8217;s comments were made during a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40929003/powells-hawkish-tone-tempers-market-excitement-after-historic-50-basis-point-intere">postmeeting press conference</a>.
What Happened: Johnson shared a video clip where Powell was questioned about the recent job creation rates and the impact of immigration on the labor market. 
Powell responded by indicating that the influx of immigrants has contributed to the rise in unemployment, alongside a slower hiring rate.
Powell said, &#8220;If you're having millions of people come into the labor force, then—and you're creating 100,000 jobs, you're going to see unemployment go up.&#8221; He noted that the increase in unemployment is partly due to the high number of people entering the country and the slower rate of job creation.
Sharing Powell&#8217;s remarks, Johnson wrote, &#8220;The Federal Reserve Chairman admitted the massive influx of illegal immigrants under Biden and Harris has raised the unemployment rate. This administration's refusal to secure the border is actively harming American workers and our economy.&#8221; 
Additionally, Elon Musk CEO of Tesla Inc. has reshared Johnson&#8217;s post, amplifying the discussion. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The Federal Reserve Chairman admitted the massive influx of illegal immigrants under Biden and Harris has raised the unemployment rate. This administration's refusal to secure the border is actively harming American workers and our economy. <a href="https://t.co/3rryXkKTAs">pic.twitter.com/3rryXkKTAs</a>
&mdash; Speaker Mike Johnson (@SpeakerJohnson) <a href="https://twitter.com/SpeakerJohnson/status/1836516101162991659?ref_src=twsrc%5Etfw">September 18, 2024</a></blockquote>
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</figure>
See Also: <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40908202/10-etfs-investors-secretly-bought-before-the-feds-make-or-break-interest-rate-cal?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">10 ETFs Investors Secretly Bought Before The Fed&#8217;s Make-Or-Break Interest Rate Call</a>
Why It Matters: The context surrounding Powell&#8217;s comments is crucial to understanding the broader economic landscape. Just a day before Johnson&#8217;s post, Powell had defended a <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40927293/powell-defends-0-5-interest-rate-drop-as-right-thing-for-the-economy-doubles-down">significant 50-basis-point interest rate cut</a>, emphasizing it was necessary to support the labor market and prevent economic downturns. 
This rate cut, which brought interest rates down to a range of 4.75% to 5%, was the first in over four years. Powell stressed the importance of preemptive measures to maintain a <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40927293/powell-defends-0-5-interest-rate-drop-as-right-thing-for-the-economy-doubles-down">strong labor market</a>.
Moreover, the Federal Reserve&#8217;s dot plot indicated that policymakers <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40929003/powells-hawkish-tone-tempers-market-excitement-after-historic-50-basis-point-intere">anticipate further rate cuts</a>, signaling a cautious approach to economic stability.
Johnson&#8217;s remarks also come at a time when House Republicans, including Johnson himself, are grappling with internal disagreements over a funding bill aimed at <a href="https://www.benzinga.com/news/24/09/40931809/house-republicans-reject-their-own-funding-bill-as-government-shutdown-looms-mike-johnson-says-we-ha">preventing a government shutdown</a>. 
Musk&#8217;s involvement in the discussion is notable, given his advocacy for simplifying the <a href="https://www.benzinga.com/news/24/04/38488525/elon-musk-advocates-for-easier-and-simplified-legal-immigration-process-amid-migrant-influx">legal immigration process</a>. Musk has previously called for easier and quicker legal immigration, highlighting the challenges faced by skilled labor in navigating the current system.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40872989/mark-cuban-asks-elon-musk-he-can-directly-question-him-about-kamala-harris-economic-policies-but-wan?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Asks Elon Musk He Can Directly Question Him About Kamala Harris&#8217; Economic Policies, But Wants This In Exchange</a></li>
</ul>
Image via Federal Reserve
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>

Global

Federal Reserve

Mike Johnson Says Fed Chair Jerome Powell Admitted  Biden-Harris Immigration Policies Have Raised Unemployment And Are 'Harming American Workers' — Elon Musk Amplifies Discussion

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