 (SAREF) Stock, Quote.Headers.trade-ideas

Sabre Resources Ltd explores for and develops mineral properties. It explores copper, zinc, vanadium, silver, and other semi-precious metals. The Company also focuses on its Sherlock Bay Nickel-Copper-Cobalt Project in the northwest Pilbara region of Western Australia, The firm is managed on the basis of its development and exploration of minerals in the geographical regions of Australia and Namibia and drives key revenue from Australia.

SABRE RESOURCES LTD by Sabre Resources Ltd.

Sabre Resources Ltd

Wells Fargo analyst Andrew Nowinski maintains MongoDB (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDB#NASDAQ">MDB</a>) with a Overweight and raises the price target from $350 to $425.

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Wells Fargo Maintains Overweight on MongoDB, Raises Price Target to $425

Bluesky, a social media platform founded by Jack Dorsey, has seen a surge in popularity, reaching nearly 25 million users as of Dec. 10. Notably, Rep. Alexandria Ocasio-Cortez (D- N.Y.) recently became the first person on Bluesky whose account has surpassed the <a href="https://www.benzinga.com/24/11/42156013/bluesky-adds-millions-of-users-as-elon-musks-social-media-platform-faces-exodus-post-trump-win-here-are-a-few-starter-packs-to-help-you-get-going-on-latest-x-rival">1 million follower mark.&nbsp;</a>
Here's a look at some of the most popular Bluesky accounts:&nbsp;
Alexandria Ocasio-Cortez: Also known as AOC, she is the most-followed account on Bluesky with 1.1 million followers as of Dec. 10. She joined the platform in April 2023 after expressing frustrations with the Twitter platform (now called X) and engaging in several contentious public exchanges with its CEO Elon Musk.
Ocasio-Cortez's profile describes herself as a &#8220;Waitress turned Congresswoman for the Bronx and Queens&#8221; with the tagline &#8220;A better world is possible.&#8221;
Read More: <a href="https://www.benzinga.com/general/social-media/24/12/42378469/anthony-scaramucci-compares-trumps-fbi-pick-kash-patel-to-matt-gaetz">Anthony Scaramucci Compares Trump&#8217;s FBI Pick, Kash Patel, To Matt Gaetz</a>
George Takei: Takei ranks as the second most-followed account on Bluesky with 908,000 followers at the time of writing. Takei is known for his role as Hikaru Sulu in the original "Star Trek" series and is also recognized for his activism, particularly in LGBTQ+ rights and social justice issues. Takei has been active on the platform, sharing nearly 5,000 posts, mostly on political topics and various social issues.&nbsp;
Mark Hamill: Hamill is best known for his role as Luke Skywalker in "Star Wars" and ranks as the third most-followed account on Bluesky with 859,500 followers at the time of writing. Hamill's posts usually reflect his commitment to connecting with fans, but he also uses the platform when advocating for progressive causes, similar to the other top accounts.&nbsp;
Other Notable Accounts:&nbsp;
Mark Cuban, a prominent investor best known as the owner of the NBA&#8217;s Dallas Mavericks, has the sixth most-followed account on Bluesky with 743,600 followers as of Dec. 10.
Cuban often posts about creating a more positive social media environment and recently said that Bluesky can be a successful platform, even though it is smaller than rival X.&nbsp;
"Bluesky doesn't have to be bigger than Twitter to be successful. It just has to be inviting, engaging and big enough that people can find people and accounts&nbsp;they enjoy engaging with, and or following. Then people tell accounts and friends on other platforms to come here. It's a SOCIAL network," Cuban <a href="https://bsky.app/profile/mcuban.bsky.social/post/3lcekpjpyms2i">wrote in a post</a> on Bluesky.&nbsp;
Jack Dorsey is notably absent from the platform he co-founded while serving as CEO of Twitter in 2019. Dorsey also stepped down from Bluesky's board of directors in May 2024 after expressing concerns that the platform was repeating mistakes made by Twitter (X) regarding its moderation policies and corporate structure.
Dorsey has shifted his attention to another social media project, Nostr, while remaining CEO of Block, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>), the parent company of Cash App, Square and Tidal.&nbsp; Dorsey aims to address issues of centralization, censorship and user data control with Nostr, his third social media platform.&nbsp;
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/24/12/42370672/sofi-makes-spacex-accessible-for-retail-investors">SoFi Unlocks SpaceX Exposure For Retail Investors: Here&#8217;s How</a></li>
</ul>
Photo: Shutterstock&nbsp;

Social Media

Politics

Tech

General

Alexandria Ocasio-Cortez (AOC) Hits 1 Million Followers With Top Bluesky Account, Mark Cuban Gains Popularity, Jack Dorsey Notably Absent

Wells Fargo analyst Michael Sison maintains Dow (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>) with a Overweight and lowers the price target from $60 to $55.

Wells Fargo Maintains Overweight on Dow, Lowers Price Target to $55

Anthony Scaramucci, former White House communications director and founder of SkyBridge Capital, wrote a book titled "The Little Book of Bitcoin" with a foreword written by MicroStrategy <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39960622/anthony-scaramucci-writing-bitcoin-book-with-michael-saylor-this-is-where-the-future-is">founder Michael Saylor</a> that will be released in January. 
What To Know: The inside flap of "The Little Book of Bitcoin," describes the book as a "guide on digital asset technology and its disruptive effects for finance professionals worldwide." It features an overview of  stablecoins such as Tether and Circle, mining and staking in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum, as well as crypto community platforms like Binance and Uniswap. 
Read More: <a href="https://www.benzinga.com/general/social-media/24/12/42378469/anthony-scaramucci-compares-trumps-fbi-pick-kash-patel-to-matt-gaetz">Anthony Scaramucci Compares Trump&#8217;s FBI Pick, Kash Patel, To Matt Gaetz</a>
Robert F. Kennedy Jr. is featured on the back cover, praising the book and Bitcoin itself.
"The Little Book of Bitcoin explains how this groundbreaking technology fixes our broken money and fosters freedom from financial repression, freedom from transactional censorship, and freedom from seizure. Reckless money printing has broken the backs of American households and funded endless wars. Bitcoin provides an offramp from this insanity," Kennedy wrote.&nbsp;
What Else: Scaramucci hosted a launch party for the book in New York City over the weekend. He posted a video to his social media account of Saylor giving a speech at the launch party.&nbsp;
<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">&quot;I started with a $250 million investment, and I&#39;ve just about hit $25 billion.&quot; Mic drop at my book launch by Michael <a href="https://twitter.com/saylor?ref_src=twsrc%5Etfw">@Saylor</a>. Grateful to Michael for his writing the foreword to The Little Book of Bitcoin. And yes, I did increase my <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> allocation % recommendation. &#x1f609; <a href="https://t.co/hNWnJ2UBD0">pic.twitter.com/hNWnJ2UBD0</a>
&mdash; Anthony Scaramucci (@Scaramucci) <a href="https://twitter.com/Scaramucci/status/1865608988903288935?ref_src=twsrc%5Etfw">December 8, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Saylor highlighted many insiders' perspectives and stories in Scaramucci's<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40825182/anthony-scaramucci-said-last-week-bitcoin-could-touch-up-to-200k-now-hes-thanking-living-l"> book</a>, about people that he knows personally, that he had never heard before.&nbsp;
"They are very, very good stories about Bitcoin," Saylor said in his speech. "You really can't understand the Bitcoin ethos until you've got the back stories and the book."&nbsp;
Saylor mentioned that he disagreed with Scaramucci's advice to the book's readers to invest only 2% of their portfolios in Bitcoin.&nbsp;
"I don&#8217;t believe in 2% solutions, so I asked Anthony @Scaramucci to upgrade &#8220;The Little Book of #Bitcoin"," Saylor wrote in a <a href="https://x.com/saylor/status/1865812262373495267">post on X</a>.&nbsp;
Scaramucci said that he had personally invested more than 50% of his own portfolio into the cryptocurrency and revised his recommendation higher before the book went to publication. Saylor joked that this was the right move and touted his own success in Bitcoin investments.&nbsp;
"I started with a $250 million investment and I think I'm just about to hit $25 billion," Saylor shared.&nbsp;
"The Little Book of Bitcoin" is set to be released on Jan. 9, 2025.&nbsp;
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/24/12/42370672/sofi-makes-spacex-accessible-for-retail-investors">SoFi Unlocks SpaceX Exposure For Retail Investors: Here&#8217;s How</a></li>
</ul>
Image: Shutterstock&nbsp;

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

Cryptocurrency

Markets

$BTC

Anthony Scaramucci Thanks Michael Saylor For 'Mic Drop' At 'Little Book Of Bitcoin' Launch

Wells Fargo analyst Eric Luebchow maintains Equinix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EQIX#NASDAQ">EQIX</a>) with a Overweight and raises the price target from $985 to $1100.

EQIX

Wells Fargo Maintains Overweight on Equinix, Raises Price Target to $1100

SAP's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>) short percent of float has fallen 33.33% since its last report. The company recently reported that it has 1.41 million shares sold short, which is 0.12% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.51 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>SAP Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1733855420_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for SAP has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing SAP's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, SAP's peer group average for short interest as a percentage of float is 3.22%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

(SAP) - Analyzing SAP's Short Interest

Celanese's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CE#NYSE">CE</a>) short percent of float has fallen 8.89% since its last report. The company recently reported that it has 5.07 million shares sold short, which is 7.28% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.32 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Celanese Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1733855414_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Celanese has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Celanese's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Celanese's peer group average for short interest as a percentage of float is 2.93%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Looking Into Celanese's Recent Short Interest

Skechers USA's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKX#NYSE">SKX</a>) short percent of float has risen 3.75% since its last report. The company recently reported that it has 6.68 million shares sold short, which is 6.91% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.53 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Skechers USA Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1733855409_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Skechers USA has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Skechers USA's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Skechers USA's peer group average for short interest as a percentage of float is 5.95%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

(SKX) - Analyzing Skechers USA's Short Interest

Wells Fargo analyst Eric Luebchow maintains Digital Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DLR#NYSE">DLR</a>) with a Overweight and raises the price target from $185 to $210.

Wells Fargo Maintains Overweight on Digital Realty Trust, Raises Price Target to $210

Cantor Fitzgerald analyst Andres Sheppard initiated coverage on Aurora Innovation Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AUR#NASDAQ">AUR</a>) with an Overweight rating and a <a href="https://www.benzinga.com/quote/AUR/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast of $10</a>.
Aurora is developing autonomous self-driving software, hardware, and data services as a platform to enable faster, safer, and more efficient long-haul trucking.
Sheppard noted Aurora benefits from a clear path towards commercialization, an asset-light and high-margin business model, and favorable regulation.
Also Read: <a target="_blank" href="https://www.benzinga.com/24/12/42416461/datadog-to-raise-870-million-in-convertible-notes-aims-for-corporate-expansion-and-debt-repurchase" rel="noreferrer noopener">Datadog to Raise $870 Million Via Convertible Debt, Aims for Corporate Expansion and Debt Repurchase</a>
Aurora is developing self-driving technology that combines cameras, radars, and proprietary long-range LiDARs. The company plans to commercialize its Level 4 autonomous technology (named Aurora Driver) primarily in trucking via high-volume and highway-focused routes. Through October 2024, Aurora Driver has accounted for over 2 million miles driven (with supervision) and over 8,200 commercial loads delivered.
Aurora plans to launch commercial operations in mid-2025 with up to 10 driverless trucks and then scale to &#8220;tens of trucks&#8221; by the end of 2025.
Sheppard noted that Aurora benefits from an asset-light and high-margin business model, which he expects will allow the company to scale quickly once it ramps up.
Aurora has an exclusive partnership with Continental, designed to help scale up Aurora Driver&#8217;s hardware for high-volume installation.
Both teams are preparing to start initial testing in the first half of 2025, with SOP targeted for 2027, and expect this will be a material catalyst. Starting in 2027 and through 2031, Sheppard projects the company&#8217;s annual capex will be lower than $30 million, with gross margins starting at ~24% and increasing to over 50%.
While President-elect Trump plans to potentially develop a federal framework for self-driving vehicles in the United States, Aurora already benefits from a favorable regulatory environment.
In the U.S., over 20 states expressly allow the driverless deployment of autonomous trucks, including Texas, Aurora&#8217;s initial target market.
In Texas, over 70% of all goods are moved by trucks and truck drivers are limited to 11 hours of service, while Aurora Driver can operate for 20 hours uninterrupted.
Aurora estimates that the TAM for trucking is ~$1 trillion in the U.S. and ~$4 trillion globally. Sheppard noted Aurora could capture a significant market share with an increasing truck driver shortage.
Price Action: AUR stock is down 1.51% at $7.51 at the last check on Tuesday.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/24/12/42415972/t-mobile-flags-q4-slowdown-as-device-upgrade-rates-drop" target="_blank" rel="noreferrer noopener">T-Mobile Reiterates Q4 Growth But Flags Drop In Device Upgrade Rates</a></li>
</ul>
Photo courtesy: Aurora Innovation

Analyst Color

Initiation

Aurora's Self-Driving Trucks Poised for Growth, Analyst Forecasts Considerable Upside

BMO Capital Markets analyst Fadi Chamoun upgraded United Parcel Service, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) to Outperform from Market Perform and reduced the <a target="_blank" href="https://www.benzinga.com/quote/UPS/analyst-ratings" rel="noreferrer noopener">target price to $150 (from $155)</a>.
The analyst writes that they still have concerns about the trajectory of UPS&#8217;s Domestic operating margins in the medium-to-long term.
Chamoun notes the combination of cyclical tailwinds, moderating unit cost inflation, positive contributions from cost reduction programs, and a low valuation make the near-term risk/reward favorable.
After nearly two years of soft B2B demand, the analyst expects lower interest rates and a recovering industrial economy to drive a return to low single-digit growth in B2B volumes.
Additionally, UPS has implemented more pricing actions on lower-margin B2C customers, particularly in the U.S. Domestic segment, which the analyst notes will improve the volume mix going forward.
Chamoun estimates EPS of $7.49 (vs. $7.52 prior) for 2024 and $8.68 (vs. $8.81 prior) for 2025.
In October, UPS reported consolidated revenue growth of 5.6% year-over-year to $22.2 billion, beating the consensus of $22.14 billion. Adjusted EPS was $1.76, up 12.1% YoY,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41515619/delivery-giant-ups-breaks-revenue-miss-streak-after-10-quarters-stock-soars" rel="noreferrer noopener">above the consensus of $1.63.</a>
Investors can gain exposure to the stock via&nbsp;First Trust Nasdaq Transportation ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXR#NASDAQ">FTXR</a>) and iShares Trust iShares U.S. Transportation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYT#BATS">IYT</a>).
Price Action: UPS shares are up 1.05% at $129.88 at the last check Tuesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/legal/24/12/42347179/amazon-blasts-lawsuit-over-alleged-slow-deliveries-to-certain-zip-codes-tells-ag-were-protecting-drivers" target="_blank" rel="noreferrer noopener">Amazon Blasts Lawsuit Over Alleged Slow Deliveries To Certain Zip Codes, Tells AG: &#8216;We&#8217;re Protecting Drivers&#8217;</a></li>
</ul>
Photo via Shutterstock.

Equities

Large Cap

Upgrades

FTXR

iShares Dow Jones Transportation Average Index Fund

UPS Near-Term Outlook Is Favorable Despite Margin Concerns, Analyst Upgrades Stock

As the world looks toward 2025, a growing alignment between regulation and technology is paving the way for the broader <a href="https://www.benzinga.com/topic/digital-asset">adoption of digital assets</a>. 
At <a href="https://www.benzinga.com/digital-assets">Benzinga&#8217;s Future of Digital Assets</a> event, panelists expressed optimism about the direction of U.S. policy, noting a shift from regulatory headwinds to a more supportive environment. Gregg Wysocki of Coinbase described the change as a critical turning point. "The last four years with a major policy headwind&#8230;now feels as if those headwinds are turning into powerful tailwinds," he said.
Wysocki outlined the potential for expanded institutional involvement driven by more transparent regulations. He highlighted the opportunity for innovation and growth, adding, "It's just very exciting as to what kind of investment we can see in this new regime."
Maredith Hannon of WisdomTree echoed this sentiment, emphasizing the potential for the U.S. to accelerate adoption in response to global developments. "I think with MiCA and other areas of the world adopting regulation&#8230;it also provides a path for the U.S. to accelerate that," she said. Hannon added that this momentum could lead to the introduction of more products and greater market access for investors.
Read Also: <a href="https://www.benzinga.com/general/social-media/24/12/42406434/meta-and-youtube-remove-accounts-of-luigi-mangione-but-x-reinstates-profile-elon-musk-says-happened-without-my-knowledge" target="_blank" rel="noreferrer noopener">Meta And YouTube Remove Accounts Of Luigi Mangione, But X Reinstates Profile: Elon Musk Says, ‘Happened Without My Knowledge'</a>
<h3 class="wp-block-heading">Regional Hubs Lead the Way</h3>
Sandra Ro, CEO of the Global Blockchain Business Council, pointed to regional leaders adopting digital assets. "UAE has been absolutely dominating in terms of attracting talent and companies. So has Singapore. Hong Kong is trying to come online," she noted. Ro added that Japan is another country to watch, citing its efforts to organize regulatory and market structures as it vies for a stronger presence in the digital economy.
In Europe, the Markets in Crypto-Assets (MiCA) regulation is set to take effect at the end of December, a move expected to clarify rules and foster innovation. Ro emphasized the importance of this deadline, stating, "The reality is, the stuff is hitting reality, and I think what we will see is the regulatory frameworks that work in practice versus the ones that need further clarification and tweaking."
<h3 class="wp-block-heading">Public-Private Collaboration and Education</h3>
The panel also discussed the importance of public-private partnerships and industry-wide education in advancing adoption. Ro underscored the need for the industry to set high standards, emphasizing collaboration with regulators to build trust. "How do we actually ensure that we help regulators use the technology for their betterment?" she asked, suggesting that doing so would foster a more sustainable and transparent market.
Rajeev Bamra of Moody's highlighted sandbox initiatives as a critical collaboration component. "We are already seeing a lot of sandboxes,&#8221; Bamra said. It&#8217;s &#8220;allowing the industry to innovate within a certain framework," he added. 
These initiatives create opportunities to test regulatory frameworks in real-world scenarios.
<h3 class="wp-block-heading">A Transformative Future</h3>
As regulatory clarity emerges and technological capabilities expand, the panelists anticipate a period of rapid evolution for digital assets. Ro describes 2025 as a time when the industry can achieve seamless integration of digital and traditional assets. The shift, she says, is "convergence."
The next phase of digital asset adoption appears poised to deliver on its promise of reshaping global finance. The discussion at Benzinga's event underscored the work that remains and the significant strides made toward that goal.
Now Read:
<ul>
<li><a href="https://www.benzinga.com/news/legal/24/12/42418763/unitedhealthcare-ceo-murder-suspect-chronic-pain-unabomber-fascination-isolation-details-emerge">UnitedHealthcare CEO Murder Suspect: Chronic Pain, Unabomber Fascination, Isolation Details Emerge</a></li>
</ul>
Image: Shutterstock

Events

Exclusives

Interview

Can US Keep Up With Other Markets On Digital Asset Regulation? 'Headwinds Are Turning Into Tailwinds,' Coinbase Exec Says

WIIM

Health Equity shares are trading lower after the company reported worse-than-expected Q3 sales results.

CMRX

Chimerix shares are trading higher after the company announced it will submit dordaviprone for accelerated approval to the FDA for patients with recurrent H3 K27M-mutant diffuse glioma.

Wells Fargo analyst Elyse Greenspan maintains Arthur J. Gallagher (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AJG#NYSE">AJG</a>) with a Overweight and raises the price target from $315 to $344.

Wells Fargo Maintains Overweight on Arthur J. Gallagher, Raises Price Target to $344

Biotech

XXII

Lilly CEO Says To Test Obesity Drugs For Smoking, Alcohol Abuse

On Tuesday, Arvinas Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARVN#NASDAQ">ARVN</a>) and Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) announced preliminary data from the ongoing Phase 1b portion of the TACTIVE-U sub-study of vepdegestrant in combination with abemaciclib for locally advanced or metastatic estrogen receptor-positive/human epidermal growth factor receptor 2 negative breast cancer.
These <a target="_blank" href="https://www.pfizer.com/news/press-release/press-release-detail/arvinas-and-pfizer-announce-initial-phase-1b-data-tactive-u?cid=em_PfizerNewsroomAlert&amp;ttype=em" rel="noreferrer noopener">data</a> will be presented at the 2024 San Antonio Breast Cancer Symposium.
Preliminary results from 16 patients in the Phase 1b sub-study demonstrated a tolerable safety profile for the combination of abemaciclib 150 mg twice daily (BID) with the recommended Phase 3 monotherapy dose of vepdegestrant (200mg once daily; QD).
An encouraging clinical benefit rate of 62.5% was observed among patients with both mutant ESR1 and wild-type ESR1 disease who had all been previously treated with a CDK4/6 inhibitor.&nbsp;
Pharmacokinetic data demonstrated no significant drug-drug interaction between vepdegestrant and abemaciclib, and no clinically meaningful effect on abemaciclib exposure was observed.
In addition to tolerability, the results demonstrated a safety profile consistent with the known properties of abemaciclib and observed data in other clinical trials for vepdegestrant.
These findings support the ongoing Phase 2 portion of the study, which is evaluating full dose abemaciclib (150mg BID) in combination with vepdegestrant (200 mg QD) in post-CDK4/6 advanced breast cancer.
Additional details on the TACTIVE-U poster presentation at SABCS are below:
Key findings included:
<ul>
<li>There was no significant drug-drug interaction, and data reflected vepdegestrant has no clinically meaningful effect on abemaciclib exposure.</li>
<li>Encouraging preliminary antitumor activity is observed with a clinical benefit rate of 62.5% in all CBR-eligible patients (10/16), 62.5% in patients with mutant ESR1 (5/8), and 62.5% in patients with wild-type ESR1 (5/8).</li>
<li>The objective response rate (ORR) in evaluable patients was 26.7% overall (4/15), 37.5% in patients with mutant ESR1 (3/8), and 14% in patients with wild-type ESR1 (1/7).</li>
</ul>
Arvinas and Pfizer continue to evaluate data from the ongoing TACTIVE-U clinical trial, including combinations of vepdegestrant plus abemaciclib, ribociclib, or samuraciclib.
Price Action: At the last check on Tuesday, PFE stock was down 1.70% at $25.66, and ARVN stock was down 1.30% at $24.76.
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Photo by Aunt Spray via Shutterstock

Health Care

ARVN

Arvinas-Pfizer Partner Cancer Drug Trial Shows 63% Clinical Benefit In Breast Cancer Patients

OSCR

Oscar Health shares are trading lower after Jefferies initiated coverage on the stock with an Underperform rating and a $12 price target.

On Monday, C3.AI Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AI#NYSE">AI</a>) reported second-quarter revenue of $93.34 million, beating analyst consensus of $91.02 million. The company reported a quarterly EPS loss of 6 cents, beating analyst loss estimates of 16 cents.
Analysts rerated the stock after the print, with some raising their price targets.
Related Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/12/42400744/c3ai-stock-rallies-after-q2-results-seventh-consecutive-quarter-of-accelerating-revenue-growth" rel="noreferrer noopener">C3.ai Stock Rallies After Q2 Results, &#8216;Seventh Consecutive Quarter Of Accelerating Revenue Growth&#8217;</a>
JMP Securities analyst Aaron Kimson maintained C3.ai with a Market Outperform rating and raised the <a target="_blank" href="https://www.benzinga.com/quote/AI/analyst-ratings" rel="noreferrer noopener">price target from&nbsp;$40&nbsp;to&nbsp;$55</a>.
Needham analyst Mike Cikos reiterated C3.ai with a Hold rating. JP Morgan analyst Pinjalim Bora maintained a Neutral rating on C3.ai with a price target of $28, up from $19.
JMP Securities: While C3.ai continues to face several risks, including its dependency on Baker Hughes, which has represented about 20% of fiscal 2025 revenue and whose current contract expires in June 2025, overall, Kimson continues to like this story for several reasons. The company has now had seven quarters of accelerating revenue growth. It offers a broad range of AI applications for enterprises in fields like manufacturing, defense, government, and oil and gas and has deep AI domain expertise, as reflected in part by a new patent, which covers agentic AI and strengthens the company&#8217;s market position dramatically.
C3.ai announced a broad new six-year partnership with Microsoft Corp that establishes &#8220;C3.ai as a preferred AI application partner on Azure&#8221; and allows Microsoft customers to buy C3.ai applications through the Azure Portal and &#8220;on Microsoft Paper,&#8221; which should make contracting much, much easier for C3.ai.
The company is reducing its revenue dependency on Baker Hughes, which was 35% of C3.ai&#8217;s revenue in fiscal 2023, 27% in fiscal 2024, 22% in fiscal first-quarter of 2025 and 18% in fiscal second-quarter of 2025.
The company is expecting to see increased demand in areas like federal and defense following the new government administration, with founder and CEO Tom Siebel noting that there has been a shift in interest from &#8220;submarines and carriers and space, and aircraft&#8221; to the &#8220;AI applications, AI applications, AI applications, AI applications, and then cyber.&#8221;
Founder and CEO Thomas M. Siebel has deep experience in the software industry and navigated his prior company, Siebel Systems, to a good outcome in its sale to Oracle Corp in 2006 for $5.8 billion.
At the closing price, C3.ai trades at a calendar 2025 Enterprise Value to revenue multiple of 10.7 times and a calendar 2026 Enterprise Value to revenue multiple of 8.6 times, while the new price target implies a calendar 2026 Enterprise Value to revenue multiple of 10.8 times (previously calendar 2025 10.0 times), in line with the peer group median that he noted is merited by C3.ai&#8217;s rapid growth, domain-specific AI capabilities, and potential strategic value. Kimson projected a third-quarter revenue of $99.0 million and an EPS loss of $(0.26).
Needham: C3.ai&#8217;s second-quarter results exceeded the high end of revenue guidance, with a narrower operating loss than expected as certain expenses pushed to the second half of fiscal 2025.
The main talking point from management was the Microsoft partnership announced in late September, which meaningfully expands the company&#8217;s addressable opportunity. C3.ai guided fiscal 2025 operating losses to $120.0 million at the midpoint (-31% operating margin), &#8211; $10 million wider than management&#8217;s previous outlook to support the initiative. C3.ai will invest in customer success, go-to-market, and research and development.
Management no longer expects to generate positive free cash flow for fiscal 2025. RPO increased for the first time since the first quarter of fiscal 2024 but needs to be more meaningful with the transition to the pilot program. Meanwhile, incremental churned pilots remain elevated as the active pilot count moderates. Cikos projected a third-quarter revenue of $98.1 million and an EPS loss of $(0.25).
JP Morgan: Bora updated his AI model to include fiscal results for the second quarter of 2025. The price target reflects ~7 times Enterprise Value to calendar 2026 revenue (previously ~5 times Enterprise Value to calendar 2025) relative to infrastructure software companies growing forward twelve months (FTM) revenue over 20% (Cloudflare, Inc, CrowdStrike Holdings, Inc, Datadog, Inc, Snowflake Inc, GitLab Inc, Zscaler, Inc, CyberArk Software Ltd, SentinelOne, Inc) trading at ~10 times Enterprise Value to calendar 2026 revenue.
The analyst noted AI should trade at a significant discount to this group because its growth is similar but at a much smaller scale for AI, and AI is extremely unprofitable compared to the comps.
While AI is expected to grow FTM revenue at a comparable growth level (25% versus 24% for comps median), AI is 80% smaller than the median scale of the comp group. Additionally, AI is expected to have (10%) FTM free cash flow margin driving a growth plus margin profile of 14%, versus comps at +23% unlevered free cash flow margin driving a growth plus margin of +46%. Furthermore, the calendar 2025 proforma operating margin for AI is expected to be (30%) versus comps at +15%.
Bora projected a third-quarter revenue of $98.0 million and an EPS loss of $(0.26).
Price Action: AI stock is up 7.87% at $44.89 at last check Tuesday.
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Photo via Shutterstock.

Reiteration

C3.ai's Growth Boosted by Microsoft Partnership And AI Expansion Drive, Analysts Up Price Forecast

Eric Trump has lauded Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) as <a href="https://www.benzinga.com/markets/24/12/42348683/fed-chair-powell-bitcoin-is-like-gold-its-just-virtual-and-digital">a transformative asset</a> with the potential to disrupt traditional banking systems.
<a href="https://x.com/Pledditor/status/1866446222375936230">Speaking </a>at the Bitcoin MENA event in Abu Dhabi on Tuesday, he highlighted Bitcoin&#8217;s scarcity, liquidity and inclusivity, framing it as a groundbreaking complement to hard assets like real estate.
&#8220;Bitcoin has the ability to change the world. It has the ability to disrupt traditional banking systems in the biggest way,&#8221; Trump stated. 
He emphasized Bitcoin's fixed supply of 21 million coins, contrasting it with other <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42014415/bitcoin-and-gold-whats-all-the-fuss-about">commodities like gold</a>, whose supply can be increased with higher prices.
&#8220;With Bitcoin, Bitcoin&#8217;s supply is capped. That scarcity, that hard limit, makes it incredibly valuable, especially as these assets are being purchased in the billions,&#8221; he added.
Trump also underscored Bitcoin's global appeal and ease of use compared to traditional real estate investments. 
&#8220;Unlike real estate, Bitcoin is not tied to geography. It's global, instantly liquid. You can buy or sell it while having dinner with your spouse,&#8221; he explained. 
<a href="https://editorial.benzinga.com/wp-admin/post.php?post=685621&amp;action=edit">Also Read: Bitcoin Crashing? &#8216;Mundane&#8217; Reasons, Says Bernstein: &#8216;Buy The Dip&#8217;</a>
He noted the absence of intermediaries such as banks, brokers, and lawyers in Bitcoin transactions, making it a simpler and more <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42392610/peter-schiff-bitcoin-is-a-threat-to-the-us-and-public-enemy-number-one">accessible financial tool</a>.
In addition to its efficiency, Trump highlighted Bitcoin's inclusivity and potential to empower individuals in developing nations. 
&#8220;Bitcoin gives everybody the opportunity around the world to participate in ways they never otherwise would have thought, no matter their wealth, no matter their location,&#8221; he said.
While acknowledging his family&#8217;s success within traditional financial systems, Trump championed Bitcoin as a &#8220;beautiful thing&#8221; that should be &#8220;celebrated and embraced by all.&#8221; 
"I can tell you a hell of a lot more eyes are going to be opened when Bitcoin hits $1 million. And I'm confident it's going to hit $1 million. I think we're all confident in this room that it's going to hit a million,&#8221; he said.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42413650/michael-saylor-urges-us-to-ditch-gold-for-bitcoin-sell-the-past-own-the-future">Michael Saylor Urges US To Ditch Gold For Bitcoin: &#8216;Sell The Past, Own The Future&#8217;</a></li>
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Photo: Shutterstock

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