Latest news for Smoore Intl Hldgs (OTC:SMORF) Stock

Smoore International Holdings Ltd offers vaping technology solutions, including manufacturing vaping devices and vaping components for Heat-not-burn products. It operates in three segments namely research, design and manufacturing of closed-system vaping devices and vaping components for tobacco companies and independent vaping companies, and research, design, manufacturing, and sale of self-branded open-system vaping devices, or APV, for retail clients and new business such as atomization in medical treatment to provide patients with inhalation drug delivery products on a basis of atomization technology. The company generates maximum revenue from Vaping devices and components, other than APV.

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With vape sales constituting nearly a quarter of the U.S. cannabis market, Pablo Zuanic, senior analyst and managing partner at Zuanic &amp; Associates, explores the fundamental trends, challenges, and opportunities in this dynamic sector in his latest report.

US Vape Market Insights: Pricing Trends, Rise of All-in-Ones, And In-House Brands

Benjamin Balazs via Pixabay

CURALEAF HLDGS INC by Curaleaf Hldgs Inc.

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Are you curious about the key players, their standings and the driving forces in the cannabis hardware and vaping sector? In this in-depth report, senior analyst Pablo Zuanic from Zuanic &amp; Associates provides some answers.

Who&#39;s Who Among Cannabis Hardware &amp; Vaping Suppliers? Zuanic &amp; Associates Take A Deep Dive

SMOORE INTERNATIONAL HLDG by Smoore International Holdings Ltd.

Smoore International Holdings Ltd

Treasury Secretary Janet Yellen publicly criticized a proposal by former President Donald Trump to replace parts of the U.S. income tax with increased <a href="https://www.benzinga.com/news/24/06/39124499/following-trumps-guilty-verdict-legal-experts-say-he-could-face-this-punishment-instead-of-prison-ti">tariffs on imported goods.</a>
What Happened: Trump proposed the idea during a meeting with Republican lawmakers on Capitol Hill last week. 
The former president is attempting to unify GOP leaders ahead of the July Republican National Convention, according to Reps. Thomas Massie (R-Ky.) and Marjorie Taylor Greene (R-Ga), <a href="https://www.usatoday.com/story/news/politics/elections/2024/06/16/janet-yellen-donald-trump-income-tax-tariffs/74117456007/">reported</a> USA Today.
Yellen, however, dismissed the proposal during an interview with ABC. Talking about the feasibility of the idea, Yellen said, "It would require tariffs well over 100%. The impact would be to make life unaffordable for working class Americans, and it would harm American businesses."
Trump&#8217;s proposal came as President Joe Biden&#8216;s approval rating has dropped among voters without college degrees and those earning $50,000 or less annually. During Trump&#8217;s presidency, tariffs played a crucial role in his economic strategy, with many Chinese imports facing tariffs as high as 25%.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/06/39346542/donald-trump-had-several-discussions-about-executing-people-says-ex-trump-official-how-do-you-ration" target="_blank" rel="noreferrer noopener">Donald Trump Had Several Discussions About ‘Executing' People, Says Ex-Trump Official: ‘How Do You Rationalize That Is A Person Fit … To Be President Of The United States?'</a>
Why It Matters: Trump&#8217;s proposal to eliminate income tax and replace it with an &#8220;all tariff policy&#8221; has raised eyebrows. The former president, who reportedly paid little to no income taxes over a decade, pitched the idea during a meeting with Republican lawmakers at the Capitol Hill Club in Washington, D.C. This was Trump's first time on Capitol Hill since Jan. 6, 2021, <a href="https://www.benzinga.com/government/24/06/39337568/trumps-plan-to-kill-income-taxes-whiffs-critics-say-its-a-sure-way-to-hit-low-and-middle-income-amer">when his supporters caused an insurrection</a>.
Experts from both political sides have expressed concerns about Trump's proposal. A report from the Tax Foundation think tank suggested that new tariffs could actually harm working class Americans and negatively impact international trade.
Now Read: <a href="https://www.benzinga.com/news/24/06/39348388/donald-trump-challenges-joe-biden-to-take-cognitive-test-fumbles-own-doctors-name-in-process">Donald Trump Challenges Joe Biden To Take Cognitive Test, Fumbles Own Doctor&#8217;s Name In Process</a>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Politics

Janet Yellen Dismisses Donald Trump's Proposal To Replace Income Tax With Tariffs: 'The Impact Would Be To Make Life Unaffordable ...'

Republican Representative Marjorie Taylor Greene made a commitment to put every effort into prosecuting Dr. Anthony Fauci, accusing him of <a href="http://www.benzinga.com/news/24/04/38237873/marjorie-taylor-greene-isnt-backing-down-on-criticism-of-house-speaker-despite-donald-trumps-efforts">committing &#8220;crimes against humanity.&#8221;</a>
What Happened: Greene made the statements at a political gathering over the weekend. She was speaking at the People Convention organized by Turning Point USA in Dallas. 
During her speech, she criticized President Joe Biden, former Speaker Nancy Pelosi and Fauci for the COVID-19 lockdown measures, <a href="https://www.thedailybeast.com/marjorie-taylor-greene-promises-to-lock-up-fauci-for-crimes-against-humanity">reported</a> The Daily Beast.
Greene insinuated that the U.S. government was involved in creating the virus in a lab in Wuhan, China. She then shifted her focus to Fauci, who was the director of the National Institute of Allergy and Infectious Diseases during the pandemic, accusing him of committing &#8220;crimes against humanity.&#8221;
Her remarks stirred the crowd into a &#8220;lock him up!&#8221; chant. Greene responded by saying, &#8220;If I have anything to do with it, we will lock him up.&#8221;
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/03/38012721/marjorie-taylor-greene-claims-she-has-proof-that-votes-for-donald-trump-in-2020-were-lost-in-the-mai" target="_blank" rel="noreferrer noopener">Marjorie Taylor Greene Claims She Has Proof That Votes For Donald Trump In 2020 Were &#8216;Lost In The Mail&#8217;: &#8216;I Think He&#8217;ll Be Vindicated Easily&#8217;</a>
&#8220;They attacked the very core of our freedoms, all for a virus that they made in a lab in Wuhan, China. And yes, Doctor Anthony Fauci should be tried for crimes against humanity,&#8221; the representative also said. 
"I'll never forget when the Biden administration and Nancy Pelosi, as speaker of the House, brought in nearly 30,000 National Guardsmen and turned our Capitol complex into a military base," she said. "They masked schoolchildren. They shut down schools. They closed beaches. They silenced your speech."
Why It Matters: Greene&#8217;s latest attack adds to the ongoing political discourse surrounding the handling of the Covid-19 pandemic. Her accusations reflect a growing divide in the perception of the government&#8217;s response to the pandemic.
Her remarks also underscore the contentious relationship between certain political figures and scientific authorities during the global health crisis. The implications of these accusations could potentially influence future policy decisions and public sentiment regarding the handling of similar crises.
Now Read: <a href="https://www.benzinga.com/news/24/05/39021116/marjorie-taylor-greenes-motion-to-vacate-speaker-mike-johnsons-position-has-fallen-flat">Marjorie Taylor Greene&#8217;s Motion To Vacate Speaker Mike Johnson&#8217;s Position Has Fallen Flat</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Health Care

Marjorie Taylor Greene Promises To 'Lock Up' Anthony Fauci For Handling Of Pandemic: 'Should Be Tried For Crimes Against Humanity'

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Lions Gate Entertainment Corporation Class A Voting Shares

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Steven Mnuchin's Liberty 77 Capital Reported A Purchase Of 698,858 Shares Of Lions Gate Entertainment @ Avg Price Of $8.10/Share In A Form 4 Filing On Friday

Keith Gill, the trading influencer popularly known as &#8220;Roaring Kitty,&#8221; has accumulated a $262 million stake in GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>), leading to discussions about market manipulation in the meme-stock era.
What Happened: Gill&#8217;s substantial stake in GameStop Corp and its call options reached over $550 million on June 6. Despite his acquisition of more stock, the value of his holdings has decreased due to a slump in the company&#8217;s shares.
As the stock&#8217;s value remains relatively stable, apprehensions are mounting among Wall Street and retail traders. The 2021 GameStop rally, which challenged short-selling, has led to inquiries about what constitutes market manipulation in the current meme-stock era, <a href="https://www.bloomberg.com/news/articles/2024-06-15/roaring-kitty-s-262-million-stirs-skeptics-in-meme-stock-era?srnd=homepage-asia&amp;sref=TBDibEcD">reported </a>Bloomberg. 
See Also: <a href="https://www.benzinga.com/news/24/06/39346549/trump-vs-biden-latest-poll-results-in-key-state-of-virginia-spells-trouble-for-one-candidate-and-his?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Biden: Latest Poll Results In Key State Of Virginia Spells Trouble For One Candidate And His Pa</a>
Commenting on the development, Steve Sosnick, chief strategist at Interactive Brokers, said, "The original meme stock craze was us versus them, with ‘them' being the guys who would short-sell millennials' favorite companies like GameStop. But I'm not sure who ‘them' is anymore."
Gill, who spearheaded the 2021 short squeeze that rattled Wall Street, is now reportedly under increased scrutiny. Doubts have been raised about whether his comeback is a simple pump-and-dump scheme.
Also Read: <a href="https://www.benzinga.com/news/24/06/39322648/roaring-kitty-claws-back-gamestop-stock-pops-on-position-update-from-keith-gill-what-you-need-to-kno">Roaring Kitty Claws Back: GameStop Stock Pops On Position Update From Keith Gill — What You Need To Know</a>
As Gill&#8217;s actions pushed the price up again, GameStop seized the opportunity by selling more than $2 billion worth of stock, leading to further discussions about market manipulation and the role of influencers in shaping stock market trends.
According to Bloomberg, by Thursday,&nbsp;Gill&#8217;s brokerage account details indicated he had sold off a previous holding of 120,000 call options and increased his stake in GameStop. This brought his portfolio to approximately 9 million shares of the video game retailer, valued at over $262 million. 
By the end of 2021, Gill&#8217;s last update revealed he held 200,000 shares worth more than $30 million, a figure adjusted by a four-for-one stock split in July 2022.
Don Steinbrugge, chief executive officer of Agecroft Partners, told Bloomberg, "Some of the quantitative managers have models to look at the trends in price and those models are extremely quick to get out of the stock if they see significant downside volatility. At some point retail investors are going to wise up and realize there's a lot of danger."
Why It Matters: Gill&#8217;s return to social media and his significant stake in GameStop have reignited the meme-stock phenomenon reminiscent of the 2021 short squeeze.
Gill&#8217;s actions, including sharing various memes and videos, have helped boost GameStop shares. His recent position in the video game retailer has once again inspired confidence in the stock, <a href="https://www.benzinga.com/markets/options/24/06/39277622/roaring-kittys-options-in-the-spotlight-will-gamestop-investor-sell-or-exercise-for-more-shares">leading to a surge in meme stocks like GameStop.</a> 
This has raised questions about the influence of social media influencers on stock market trends and potential market manipulation.
Now Read:&nbsp;<a href="https://www.benzinga.com/general/education/24/05/38793704/who-is-roaring-kitty-why-does-his-return-to-social-media-matter-for-gamestop-stock" target="_blank" rel="noreferrer noopener">Who Is Roaring Kitty? Why Does His Return To Social Media Matter For GameStop Stock?</a>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Market Manipulation Or Meme-Stock Mastery? 'Roaring Kitty' Rakes In $262 Million GameStop Stake

Former President Donald Trump, who is currently running for the presidency again, recently proposed a cognitive test for President Joe Biden. However, Trump ended up misnaming his own <a href="https://www.benzinga.com/general/politics/24/06/39127315/latest-poll-of-independents-and-republicans-could-spell-trouble-for-donald-trump-following-his-h">doctor in the process.</a>
What Happened: Trump, during a campaign event in Detroit on Saturday, questioned Biden&#8217;s mental acuity and suggested that the latter should take a cognitive test. In a twist of irony, Trump misnamed his own doctor, referring to Rep. Ronny Jackson, who served as the White House physician during part of Trump&#8217;s presidency, as &#8220;Ronny Johnson,&#8221; reported the Associated Press.
&#8220;He doesn't even know what the word ‘inflation' means. I think he should take a cognitive test like I did,&#8221; Trump, who took a cognitive test in 2018 at his own behest, said of Biden.
"Doc Ronny Johnson. Does everyone know Ronny Johnson, congressman from Texas? He was the White House doctor, and he said I was the healthiest president, he feels, in history, so I liked him very much indeed immediately," the former president further said. 
Trump&#8217;s slip of the tongue was promptly picked up by online critics and the Biden campaign, which has consistently defended the Democratic president against criticism about his verbal missteps.
Also Read: <a href="https://www.benzinga.com/news/24/06/39346542/donald-trump-had-several-discussions-about-executing-people-says-ex-trump-official-how-do-you-ration">Donald Trump Had Several Discussions About &#8216;Executing&#8217; People, Says Ex-Trump Official: &#8216;How Do You Rationalize That Is A Person Fit &#8230; To Be President Of The United States?&#8217;</a>
Why It Matters: Trump&#8217;s latest challenge comes on the heels of his previous demand for Biden to undergo a drug test ahead of their debates scheduled for June and September. Trump claimed that Biden was under the influence of drugs during <a href="https://www.benzinga.com/news/24/05/38907865/donald-trump-issues-eyebrow-raising-demand-ahead-of-proposed-debates-with-joe-biden-i-just-wanna-deb">the latter&#8217;s State of the Union address in March.</a>
Trump, who celebrated his 78th birthday on Friday, has made questioning whether the 81-year-old Biden is fit for a second term a focal point of his campaign.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/24/06/39124499/following-trumps-guilty-verdict-legal-experts-say-he-could-face-this-punishment-instead-of-prison-ti" target="_blank" rel="noreferrer noopener">Following Trump's Guilty Verdict, Legal Experts Say He Could Face This Punishment Instead Of Prison Time</a>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Donald Trump Challenges Joe Biden To Take Cognitive Test, Fumbles Own Doctor's Name In Process

These mid-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Avidity Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RNA#NASDAQ">RNA</a>) shares jumped 50.15% following the announcement that the Phase 1/2 trial data for muscle disorder therapy <a href="https://www.benzinga.com//node/39294405" target="_blank" rel="noreferrer noopener">yielded positive results</a>.</li>
<li>Iris Energy Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IREN#NASDAQ">IREN</a>) shares surged 24.31% after Cantor Fitzgerald assumed an Overweight rating on the stock and <a href="https://www.benzinga.com//node/39277415" target="_blank" rel="noreferrer noopener">announced a $23 price target</a>.</li>
<li>Hims &amp; Hers Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NYSE">HIMS</a>) <a href="https://www.benzinga.com//node/39317941" target="_blank" rel="noreferrer noopener">shares rose 15.29%</a>.</li>
<li>John Wiley &amp; Sons, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WLY#NYSE">WLY</a>) shares rose 14.07%  after the company reported Q4 <a href="https://www.benzinga.com//node/39321000" target="_blank" rel="noreferrer noopener">adjusted EPS and sales that beat estimates</a>.</li>
<li>Element Solutions Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESI#NYSE">ESI</a>) shares grew 13.46%  after the company raised Q2 and FY24 guidance. Mizuho and BMO Capital also raised <a href="https://www.benzinga.com/quote/ESI/analyst-ratings" target="_blank" rel="noreferrer noopener">their price forecasts for the stock</a>.</li>
<li>CleanSpark, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLSK#NASDAQ">CLSK</a>) shares gained 13.31% amid strength in Bitcoin following <a href="https://www.benzinga.com//node/39289772" target="_blank" rel="noreferrer noopener">softer-than-expected May CPI figures</a>.</li>
<li>Enovix Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENVX#NASDAQ">ENVX</a>) stock price escalated 12.97% as shares of several industrial companies gained amid overall market strength following positive inflation data.</li>
<li>Axcelis Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACLS#NASDAQ">ACLS</a>) shares advanced 12.70% last week. Semiconductor stocks gained on softer-than-expected CPI figures, which lifted stocks on Wednesday, while AI optimism also continues to boost the sector.</li>
<li>Intellia Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTLA#NASDAQ">NTLA</a>) stock price upped 12.08%.</li>
<li>Korn Ferry (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KFY#NYSE">KFY</a>) shares increased 8.13% following the company&#8217;s <a href="https://www.benzinga.com//node/39316062" target="_blank" rel="noreferrer noopener">Q4 earnings</a>. A couple of analysts raised the <a href="https://www.benzinga.com/quote/Kfy/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecasts on the stock</a>.</li>
</ol>
<ol></ol>
Also Read: <a href="https://www.benzinga.com/news/24/06/39348319/celsius-and-paypal-were-among-the-10-biggest-large-cap-losers-last-week-june-9-june-15-are-these-in">Celsius And PayPal Were Among The 10 Biggest Large Cap Losers Last Week (June 9-June 15): Are These In Your Portfolio?</a>
Image: 15958319 from Pixabay

Movers

ACLS

CLSK

ENVX

Hims & Hers Health, Inc. Class A Common Stock

HIMS

IREN

NTLA

Avidity Biosciences And CleanSpark Were Among The 10 Biggest Mid-Cap Stock Gainers Last Week (June 9-June 15): Are These In Your Portfolio?

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) CEO Tim Cook recently participated in a blind ranking of five iconic Apple products, during an interview. The lineup included the MacBook Air, iPad, iPhone 4 and 5, Magic Mouse, and <a href="https://www.benzinga.com/news/24/06/39256085/apples-vision-pro-to-debut-outside-us-markets-for-the-first-time-these-are-countries-on-tim-cooks-li">Vision Pro.</a>
What Happened: Cook was recently<a href="https://www.benzinga.com/news/24/06/39306083/who-will-be-next-apple-ceo-tim-cook-spills-the-beans-about-his-legacy-i-dont-think-about-it-to-me-a"> interviewed by YouTuber</a> Marques Brownlee, better known as MKBHD, during the Worldwide Developers Conference 2024 (WWDC 24). The Apple CEO was asked to rank each Apple product without knowing the rest of the products.
&#8220;It is a tough one. It&#8217;s like asking your favorite kids or nephews or nieces,&#8221; Cook joked.
Although Cook didn&#8217;t rank the products, he praised them in retrospect.
<h3 class="wp-block-heading">MacBook Air</h3>
Cook recalled the first time his predecessor and Apple co-founder Steve Jobs had revealed the Macbook Air out of an envelope. 
&#8220;It wasn&#8217;t about how many people would buy it. It was about establishing the foundation,&#8221; Cook said.
<h3 class="wp-block-heading">iPad</h3>
When asked about the iPad, Cook acknowledged its success despite initial skepticism and rumors. First revealed in 2010, this year, Apple has partnered with OpenAI to integrate&nbsp;<a href="https://www.benzinga.com/news/24/06/39256948/tim-cook-announces-apple-intelligence-for-iphones-calls-it-next-big-step-tremendously-excited" target="_blank" rel="noreferrer noopener">ChatGPT into iOS 18, iPadOS 18, and macOS 15 Sequoia</a>.
&#8220;You know, tablets had been in the market for a long time. Our objective is never to be first. Our objective is to be best,&#8221; Cook said.
&#8220;People thought many things that weren&#8217;t too nice about it in the beginning, including the name, and yet I couldn&#8217;t live without my iPad today.&#8221;
<h3 class="wp-block-heading">Magic Mouse</h3>
Cook reflected on the Magic Mouse&#8217;s ergonomic significance. 
&#8220;People don&#8217;t think of that as much as they would the MacBook Air and the iPad and whatever else you&#8217;re going to name probably, but getting the ergonomics well done was key,&#8221; Cook said.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Talking Tech and AI with Tim Cook!" width="500" height="281" src="https://www.youtube.com/embed/pMX2cQdPubk?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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</figure>
<h3 class="wp-block-heading">iPhone</h3>
&#8220;Oh my God. It changed the world,&#8221; Cook exclaimed, reflecting upon how it changed the way people thought about things that were on the phone. He added that the App Store released in 2008, a year after the first iPhone was released, also paved the way for new and upcoming developers.
&#8220;There were no students in the developer community at that particular point in time. Now, the developer population is very diverse from an age point of view and everything else, and it just, fundamentally, became an economic miracle for people and got well outside of just doing it for a hobby. You look at all the businesses that came out of it,&#8221; Cook added.
<h3 class="wp-block-heading">Vision Pro</h3>
Lastly, Cook expressed his personal fondness for the Vision Pro, which he uses for entertainment and multitasking. He highlighted its popularity among Fortune 100 companies and its unique ability to convert old photos into 3D.
&#8220;I find that it&#8217;s still an emotional experience to look at your photos, and with VisionOS 2, being able to take your old photos. And make them 3D, I think is a big, big thing,&#8221; Cook said.
&#8220;You know, I lost both of my parents before Vision Pro came out, and being able to go back and look at those photos differently is something that, you know, it&#8217;s an experience you can&#8217;t replicate.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/06/39306083/who-will-be-next-apple-ceo-tim-cook-spills-the-beans-about-his-legacy-i-dont-think-about-it-to-me-a?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Who Will Be Next Apple CEO? Tim Cook Spills The Beans About His Legacy: &#8216;I Don&#8217;t Think About It. To Me, A</a>
Why It Matters: At this year&#8217;s WWDC, Cook announced the integration of AI-powered personal intelligence features, <a href="https://www.benzinga.com/news/24/06/39256948/tim-cook-announces-apple-intelligence-for-iphones-calls-it-next-big-step-tremendously-excited">dubbed &#8220;Apple Intelligence</a>,&#8221; into the operating systems for iPhones, iPads, and Macs.
Following the WWDC 2024 keynote, Wedbush analyst Dan Ives lauded Apple&#8217;s venture into AI, <a href="https://www.benzinga.com/news/24/06/39263188/wedbush-analyst-dan-ives-says-apples-wwdc-2024-keynote-lived-up-to-its-hype-i-think-it-was-a-home-ru">calling it a game changer.</a> He stated that Apple had delivered on every item, especially in terms of OpenAI and privacy, laying out the stack for developers. This positive feedback underscores the significance of Apple&#8217;s ongoing innovations, even as Cook nostalgically ranks the company&#8217;s iconic products.
Price Action: On Friday, Apple&#8217;s stock was trading 0.34% lower at $213.52 after it closed at $214.24 on Thursday, according to <a href="https://pro.benzinga.com">Benzinga Pro.</a>
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38582049/ai-adoption-a-do-or-die-moment-for-companies-says-sandboxaq-ceo-theres-going-to-be-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">AI Adoption A &#8216;Do Or Die&#8217; Moment For Companies, Says SandboxAQ CEO: &#8216;There&#8217;s Going To Be Winners And Losers</a>&#8216;
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo courtesy of Apple

AAPL

Tim Cook Tells MKBHD Blindly Ranking Apple Products Is Like Choosing 'Your Favorite Nieces Or Nephews:' This Is What Cupertino Chief Thinks About MacBook, iPad, iPhone, Magic Mouse And Vision Pro

In the week leading up to June 12, U.S. equity funds witnessed their largest weekly outflow in 18 months. This comes as investors tread carefully in anticipation of the Federal Reserve&#8217;s policy decision.
What Happened: Data from LSEG reveals that investors pulled out a net $21.93 billion from U.S. equity funds during the week, the biggest weekly net disposal since mid-December 2022.
Despite the Federal Reserve&#8217;s decision to maintain interest rates, the S&amp;P 500 and the Nasdaq Composite continued to reach record closing highs for the third consecutive session. This was bolstered by data indicating a deceleration in inflation, reported Reuters.
See Also: <a href="https://www.benzinga.com/news/24/06/39346549/trump-vs-biden-latest-poll-results-in-key-state-of-virginia-spells-trouble-for-one-candidate-and-his?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Biden: Latest Poll Results In Key State Of Virginia Spells Trouble For One Candidate And His Pa</a>
Large-cap equity funds were the most affected, experiencing outflows of $14.94 billion, the largest weekly outflow since Dec. 21, 2022. Multi-cap, mid-cap, and small-cap funds also faced net withdrawals of $2.37 billion, $1.43 billion and $816 million, respectively.
In contrast, investors directed their attention towards U.S. bond and money market funds, pouring in $1.72 billion and $20 billion, respectively. U.S. sector-specific equity funds experienced a second straight week of inflows, accumulating approximately $1.85 billion, with the majority, $1.8 billion, being invested in the technology sector.
U.S. bond funds experienced a net inflow of $4.82 billion, continuing their positive trend for the second week in a row. General domestic taxable fixed income funds in the U.S. attracted $2.44 billion, the largest amount in five weeks. Additionally, short/intermediate investment-grade funds and loan participation funds saw inflows of $841 million and $546 million, respectively.
Why It Matters: The significant outflows from U.S. equity funds highlight investor caution ahead of the Federal Reserve&#8217;s policy decision. 
Despite the decision to keep interest rates unchanged, investors are showing a preference for safer investment vehicles like bond funds and money market funds. 
This shift in investor behavior could potentially impact the performance of equity markets in the coming weeks.
Read Next: <a href="https://www.benzinga.com/news/24/06/39285670/elon-musk-agrees-with-nvidia-ceo-jensen-huangs-unconventional-management-style-no-scheduled-1-on-1-m?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Agrees With Nvidia CEO Jensen Huang&#8217;s Unconventional Management Style: No Scheduled 1-On-1 Meet</a>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Unprecedented $21.93B Withdrawn From US Equity Funds Ahead Of Fed Decision

These ten large-cap stocks were the worst performers in the last week. Are they in your portfolio?
<ol>
<li>Celsius Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELH#NASDAQ">CELH</a>) lost 15.22% last week after multiple analysts <a href="https://www.benzinga.com/quote/celh/analyst-ratings" target="_blank" rel="noreferrer noopener">lowered their price forecasts</a> for the stock.</li>
<li>Gold Fields Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GFI#NYSE">GFI</a>) shares tumbled 12.59% after the company lowered its 2024 group production guidance due to the impact of weather <a href="https://www.benzinga.com//node/39317613" target="_blank" rel="noreferrer noopener">events on the Salares Norte project</a>.</li>
<li>Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARAA#NASDAQ">PARAA</a>) shares decreased 13.63% after it was announced that the proposed <a href="https://www.benzinga.com//node/39319277" target="_blank" rel="noreferrer noopener">transaction with Skydance is not moving forward</a>.</li>
<li>Warner Bros. Discovery, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) shares declined 11.71% after Liberty Global on Thursday announced intentions to acquire <a href="https://www.benzinga.com//node/39318490" target="_blank" rel="noreferrer noopener">the company&#8217;s stake in Formula E</a>.</li>
<li>PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) shares fell 9.16% on news competitor Affirm&#8217;s payment products are expected to be available to <a href="https://www.benzinga.com//node/39295963" target="_blank" rel="noreferrer noopener">Apple Pay users in the US later this year</a>.</li>
<li>Samsara Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IOT#NYSE">IOT</a>) shares were down 7.66%.</li>
<li>Orange SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORAN#NYSE">ORAN</a>) stock lost 7.66% in the last week.</li>
<li>Nutrien Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NTR#NYSE">NTR</a>) stock fell 7.14% after Piper Sandler maintained an Underweight rating and <a href="https://www.benzinga.com/quote/ntr/analyst-ratings" target="_blank" rel="noreferrer noopener">lowered its price target from $56 to $55</a>.</li>
<li>Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) shares fell 7.51%.</li>
<li>Zoom Video Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>) stock decreased 7.51%.</li>
<li>MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) shares declined 5.88% after the company announced a proposed private institutional offering of $500 million in convertible <a href="https://www.benzinga.com//node/39335806" target="_blank" rel="noreferrer noopener">senior notes to acquire additional Bitcoin</a>.</li>
</ol>
<ol></ol>
Also Read: <a href="https://www.benzinga.com/news/24/06/39348307/apple-and-broadcom-were-among-10-large-cap-stocks-with-biggest-gains-in-the-last-week-june-9-june-15">Apple And Broadcom Were Among 10 Large Cap Stocks With Biggest Gains In The Last Week (June 9-June 15, 2024): Are They In Your Portfolio?</a>
Photo via Shutterstock

CELH

MBLY

MSTR

ORAN

PARAA

PYPL

Celsius And PayPal Were Among The 10 Biggest Large Cap Losers Last Week (June 9-June 15): Are These In Your Portfolio?

These large-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) shares jumped 23.07% after the company reported&nbsp;upbeat <a href="https://www.benzinga.com//node/39318464" target="_blank" rel="noreferrer noopener">results for its fiscal&nbsp;second quarter</a>. Many analysts <a href="https://www.benzinga.com/quote/avgo/analyst-ratings" target="_blank" rel="noreferrer noopener">raised the price forecast on the stock</a>.</li>
<li>Arm Holdings Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) jumped 17.14% on the report that the company will join the Nasdaq-100 Index <a href="https://www.benzinga.com//node/39324969" target="_blank" rel="noreferrer noopener">starting June 24, 2024</a>.</li>
<li>Caseys General Stores, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CASY#NASDAQ">CASY</a>) shares escalated 13.99% after the company reported better than expected&nbsp;Q4&nbsp;financial results and <a href="https://www.benzinga.com//node/39289435" target="_blank" rel="noreferrer noopener">increased its quarterly dividend</a>. Many analysts <a href="https://www.benzinga.com//node/39310541" target="_blank" rel="noreferrer noopener">boosted their price forecast</a> on the stock.</li>
<li>Qorvo Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>) shares gained 13.69% in the last week. Shares of semiconductor stocks gained in the last week after softer-than-expected CPI figures lifted socks on Wednesday while AI optimism continues to boost the sector.</li>
<li>Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>) shares rose 12.97% on the optimism for the semiconductor sector.</li>
<li>Zillow Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/Z#NASDAQ">Z</a>) shares jumped 12.68% following the purchase of 2,338,036 shares <a href="https://www.benzinga.com//node/39297081" target="_blank" rel="noreferrer noopener">by a company director</a>.</li>
<li>Arista Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>) stock upped 12.24%.</li>
<li>Rentokil Initial Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTO#NYSE">RTO</a>) shares advanced 10.09% in the last week following a report suggesting Trian has <a href="https://www.benzinga.com//node/39297298" target="_blank" rel="noreferrer noopener">amassed a stake in the company</a>.</li>
<li>Oracle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) shares escalated 9.97% on the heels of the company's quarterly results. The company also <a href="https://www.benzinga.com//node/39290117">announced partnerships</a> with&nbsp;Google (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and, OpenAI. Several analysts <a href="https://www.benzinga.com//node/39290117" target="_blank" rel="noreferrer noopener">raised the price forecasts</a> on the stock.</li>
<li>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) shares increased 7.74% following its annual WWDC event , during which the company<a href="https://www.benzinga.com//node/39297508" target="_blank" rel="noreferrer noopener"> unveiled several new AI software features</a>.</li>
</ol>
Also Read: <a href="https://www.benzinga.com/news/24/06/39348319/celsius-and-paypal-were-among-the-10-biggest-large-cap-losers-last-week-june-9-june-15-are-these-in">Celsius And PayPal Were Among The 10 Biggest Large Cap Losers Last Week (June 9-June 15): Are These In Your Portfolio?</a>
Photo via Shutterstock

ANET

AVGO

CASY

GOOGL

MSFT

ORCL

QRVO

SWKS

Apple And Broadcom Were Among 10 Large Cap Stocks With Biggest Gains In The Last Week (June 9-June 15, 2024): Are They In Your Portfolio?

Former Treasury Secretary Larry Summers on Friday said he hasn&#8217;t seen a <a href="https://www.benzinga.com/government/24/06/39319275/no-income-tax-yes-to-high-import-tariffs-trump-floats-idea-to-ceos-gop-lawmakers">more inflationary economy policy than that of presumptive presidential candidate Donald Trump in his lifetime</a>, calling it an &#8220;irresponsible set of proposals.&#8221;
Biggest Supply Shock: Trump&#8217;s tariff proposals are the biggest supply shock that will likely push up prices of not just imported goods but all of goods that compete with those imported, Summers <a href="https://www.youtube.com/watch?v=NXdT6Zoq9YE">said</a> in an interview with Bloomberg.
&nbsp;&#8220;Anybody who&#8217;s worried about gouging should think that more competition, including from abroad, is a very, very important step,&#8221; he said. 
Summers noted that Trump&#8217;s plans for greater labor restrictions will likely cause wage inflation, and scaling back renewable energy subsidies will increase energy costs. This, the economist said, will significantly increase inflation and inflation expectations, putting more pressure on the Fed to prove its credibility.
&#8220;This could easily be a prescription for a 10% mortgage rate,&#8221; he said, adding that &#8220;this is really dangerous stuff.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/money/best-inflation-stocks" target="_blank" rel="noreferrer noopener">Best Inflation Stocks</a>
Misspeak? Regarding reports that Trump discussed replacing income taxes with tariffs in a meeting with Republican lawmakers, Summers said people sometimes misspeak and aren&#8217;t serious about what they say. 
&#8220;That&#8217;s probably a feature of candidate Trump,&#8221; he said.
Replacing the income tax with revenue from tariffs would be the worst macroeconomic policy proposal in U.S. history, the former Treasury secretary said.
&#8220;It, of course, burdens the middle class and the poor who purchase goods, the goods that exist on international markets. So, it&#8217;s regressive,&#8221; he added.
The economist noted that the 1930 Smoot-Hawley tariffs, which were only 0.6% of GDP, caused enormous damage and worsened the Great Depression. If currently, half of income tax revenues were replaced with tariffs, it would work out to six times Smoot-Hawley levels, he said.
&#8220;That&#8217;s got the potential to do enormous damage to the competitiveness of every U.S. exporter, to do huge damage to all kinds of workers who use imported goods in what their businesses produce to create a downward spiral,&#8221; Summers said.
He added that significantly higher prices for imported goods mean consumers will have less to spend on other items.
Summers also pointed out that higher tariffs will lead to economic warfare as other countries respond in kind. 
&#8220;This is a prescription for the mother of all stagflations,&#8221; he said.
The economist, however, believes that tariffs replacing income taxes could happen if Trump were elected, urging the market not to dismiss this possibility.
&#8220;But this is something that I think should be viewed very ominously,&#8221; he added.
Nobel laureate and economist Paul Krugman said last week that <a href="https://www.benzinga.com/news/24/06/39326844/trumps-tax-agenda-could-lead-to-133-tariffs-and-inflation-spike-says-paul-krugman-just-ignorant">Trump tariffs may have to be as high as 133% if they were to make up for the loss of revenue from income taxes.</a>
The iShares TIPS Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TIP#NYSE">TIP</a>), an ETF tracking the investment results of an index composed of inflation-protected U.S. Treasury bonds, ended Friday&#8217;s session up 0.12% at $106.19, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a>
Read Next: <a href="https://www.benzinga.com/markets/equities/24/06/39340719/inflation-cools-in-may-fed-hints-at-slower-pace-of-rate-cuts-stocks-hit-new-record-highs-this-we">Inflation Cools In May, Fed Hints At Slower Pace Of Rate Cuts, Stocks Hit New Record Highs: This Week In The Market</a>
Photo: Shutterstock

Government

Regulations

Media

Larry Summers Warns Donald Trump's Fiscal Policy Could Inflict More Damage Than One That Precipitated Great Depression: 'Prescription For The Mother Of All Stagflations'

What some people won't do to get marijuana from one place to another.
An Oakland man was indicted in Richmond, Va. on federal charges that he used his private Cessna to personally fly hundreds of pounds of cannabis across the country. His rides came to an end when his Virginia-based partner turned on him.
The unnamed informant, <a href="https://www.mercurynews.com/2024/06/03/for-months-an-oakland-pilot-allegedly-flew-marijuana-cross-country-on-his-cessna-then-the-person-paying-for-it-became-a-federal-informant/">reported</a> Mercury News, oversaw weekly clandestine cannabis sales in Virginia, where cannabis has been legal for three years but the <a href="https://www.benzinga.com/markets/cannabis/24/03/38002728/gop-governor-youngkin-vetoes-virginia-cannabis-sales-bill-3-years-after-legalization-sparking-de">commercial market is not</a>. The informant paid the pilot, Quentin Helgren, at least $15,000 per trip to fly some 85 to 120 pounds of marijuana each week from California to Virginia.
The weed flights went on throughout 2023 until this past January when the DEA raided the informer's Virginia warehouse and found hundreds of pounds of marijuana. This apparently compelled the Virginia weed dealer to cooperate with the authorities and flip on his courier Helgren.
The DEA found cellphone data and hotel records that further established Helgren was flying cannabis between Oakland and Virginia. 
Indicted in late May by a federal grand jury in Virginia for distributing marijuana, Helgren faces a maximum of 20 years in prison and a $250,000 fine. Federal prosecutors also filed a petition to seize his 1978 Cessna as part of the criminal prosecution under asset forfeiture laws.
<h2 class="wp-block-heading">South Carolina Man Busted For Lobbing Weed Over Prison Wall</h2>
Meanwhile, in South Carolina, a former inmate was arrested after lobbing cannabis and hash over the wall of a state prison with a "large launching device."  
Ronnie Ricardo Wells, 40, was stopped last week as he sped away from the Ridgeland Correctional facility, <a href="https://www.wistv.com/2024/06/14/warrants-man-arrested-after-using-launching-device-try-toss-weed-over-sc-prison-fence/">reported</a> WIS News 10. When the cops searched his car, they found the launching device, packages of cannabis and hash as well as a handgun. An arrest warrant from the South Carolina Department of Corrections Division accused Wells of tossing the packages of marijuana over the fence around the prison.
A Corrections Department document noted that the Ridgeland prison's contraband team had recovered the package and gave a description of Wells to local authorities.
Now read: <a href="https://www.benzinga.com/markets/cannabis/24/06/39336860/unscrupulous-practices-going-on-in-new-york-say-state-senators-about-150m-loan-for-beleaguered-c">&#8216;Unscrupulous&#8217; Practices Going On In New York, Say State Senators About $150M Loan For Beleaguered Cannabis Program</a>
Photo: Courtesy of Kindel Media by Pexels

Cannabis Delivery Flights Gets California Pilot Permanently Grounded, South Carolina Man Busted For Launching Weed Over Prison Wall

In less than five months, voters will head to the polls to choose between President Joe Biden and former President Donald Trump in the <a href="https://www.benzinga.com/topic/2024-election">2024 presidential election.</a>
Many election polls continue to show a close race between the two front-running candidates in the race.
What Happened: Biden has gained support from independent voters in several recent polls after Trump was <a href="https://www.benzinga.com/general/politics/24/05/39100065/trump-found-guilty-on-all-34-counts-in-hush-money-criminal-trial-heres-what-happens-next">found guilty on 34 counts</a> in a criminal trial alleging he had falsified business records.
A new Morning Consult <a href="https://pro.morningconsult.com/trackers/2024-presidential-election-polling">poll</a> of nationally registered voters shows the following results in the head-to-head matchup of Biden and Trump, with the results from the <a href="https://www.benzinga.com/general/politics/24/06/39218545/trump-vs-biden-former-presidents-lead-drops-to-1-point-net-buzz-rating-hits-10-month-low-after-g">June 4 poll </a>in parentheses:
Joe Biden: 44% (43%)
Donald Trump: 43% (44%)
Someone Else: 8% (8%)
Don't Know: 5% (5%)
Of the Democratic voters polled, 86% have Biden as their top pick, which is down four percentage points from the previous poll. Eighty-seven percent of Republican voters polled have Trump as their top pick, which was down one percentage point from last week's poll.
Independent voters, who could decide the election, selected their 2024 pick as follows, with the June 4 results in parentheses:
Joe Biden: 34% (34%)
Donald Trump: 37% (35%)
Someone Else: 18% (21%)
Don't Know: 11% (11%)
Related Link: <a href="https://www.benzinga.com/general/politics/24/06/39281524/biden-trump-should-both-drop-out-of-2024-election-leading-pollster-says-country-would-be-better-">Biden, Trump Should Both Drop Out Of 2024 Election, Leading Pollster Says: &#8216;Country Would Be Better Served&#8217;</a>
Why It's Important: The latest poll gives Biden a rare lead, showing he&#8217;s closed the gap with Trump in recent months. This marks the first lead for Biden in the Morning Consult head-to-head poll since early May.
After Trump dominated Biden in head-to-head polls in January and February, Biden has narrowed the gap to one point, tied, or, in some cases, taken a lead over Trump in recent polls.
For the sixth consecutive week, Biden&#8217;s net favorability rating has been ahead of Trump&#8217;s, marking Biden&#8217;s longest streak since April 2023. This follows Trump&#8217;s hush money trial in New York. Trump hit his lowest net favorability rating since January.
In the latest poll, net buzz about immigration improved by eight points, with more people hearing what they perceived was positive than negative news. The eight-point gain comes after Biden <a href="https://www.benzinga.com/government/24/06/39144853/biden-to-sign-executive-order-to-limit-asylum-seekers-crossing-us-mexico-border-report">announced new restrictions</a> on asylum for people who cross the southern border illegally.
The net buzz for immigration hit its best mark since November 2023 in the Morning Consult weekly survey.
With immigration expected to be a big topic in the 2024 election, Biden's latest move may have helped win over voters.
The poll showed that 37% of voters approve of Biden's handling of immigration compared to 35% prior to his latest executive action.
The two candidates are set to face off in their first 2024 presidential debate on June 27. The debate will air on CNN, a unit of Warner Bros. Discovery. 
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39339704/michelle-obama-smokes-robert-kennedy-jr-in-presidential-race-match-up">Michelle Obama Smokes Robert Kennedy Jr. In Presidential Race Match-Up</a>
Photo: Shutterstock

Biden Back On Top: President Beats Trump By 1 Point In Latest 2024 Election Poll, How Immigration Efforts Are Helping To Win Over Voters

Federal Reserve

Kashkari Said We Are In A High Pressure Economy In Some Dimensions, But Some Signs It's Cooling; Job Market Has Performed Better Than Expected; May Be More Cooling

Kashkari Said Best Thing Fed Can Do For Housing Is To Get Inflation Down

Kashkari Said Median Projection Is For One Cut, That's Likely To Be Toward End Of The Year; Said We Need To See More Evidence To Convince Us Inflation Is Heading To 2%

Minneapolis Fed President Kashkari, Speaking On CBS' 'Face The Nation', Said Reasonable That Rate Cut Could Come In December

The NYC Register&#8217;s office was duped into filing sham deeds that falsely implicated Donald Trump&#8216;s daughter Ivanka Trump and Hillary Clinton in a $150 million Manhattan real estate transaction.
What Happened: The counterfeit documents were expunged after The New York Post flagged them, <a href="https://nypost.com/2024/06/15/us-news/nyc-duped-into-filing-bogus-ivanka-trump-hillary-clinton-real-estate-deal/">according </a>to the newspaper. The bogus deeds alleged that Ivanka Trump, Clinton, and an individual named &#8220;Louis Reyes&#8221; had acquired air and subterranean rights to the prestigious University Club and the world&#8217;s highest duplex condo at Central Park Tower. The documents received approval from city clerks on May 16.
The deeds also peculiarly asserted that the &#8220;purchasers&#8221; were &#8220;relatives or former relatives&#8221; of a purported seller named &#8220;David Smith.&#8221; Despite the city probing approximately 3,500 fraudulent deeds in the past 10 years, the paperwork was approved without the obligatory notary signatures.
See Also: <a href="https://www.benzinga.com/news/24/06/39346549/trump-vs-biden-latest-poll-results-in-key-state-of-virginia-spells-trouble-for-one-candidate-and-his?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Biden: Latest Poll Results In Key State Of Virginia Spells Trouble For One Candidate And His Pa</a>
Adelaide Polsinelli, a real estate broker at Compass who first noticed the fraudulent filing, expressed her concern and told the newspaper, &#8220;It&#8217;s frightening to think real estate documents can be so easily manipulated that every city clerk involved overlooked such an obvious fake.&#8221;
Ryan Lavis, a representative for the city Department of Finance, verified that the deed was erroneously filed and was withdrawn following a review.
Why It Matters: This incident underscores the vulnerability of real estate transactions to fraudulent activities. It raises serious questions about the effectiveness of the city&#8217;s measures to prevent such scams, especially considering the high-profile names involved in this case. 
The fact that such a glaringly fake deed could pass through the system undetected is a cause for concern for both the real estate industry and the city&#8217;s administration. 
Now Read: <a href="https://www.benzinga.com/news/24/02/37193915/judge-calls-out-ivanka-trump-in-new-york-civil-fraud-case-says-her-memory-recall-was-suspect">Judge Calls Out Ivanka Trump In New York Civil Fraud Case, Says Her Memory Recall Was &#8216;Suspect&#8217;</a>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Real Estate

New York City Clerks Mistakenly Approve Paperwork That Falsely Tied Ivanka Trump And Hillary Clinton To $150 Million Real Estate Scam

The late vice chairman of Berkshire Hathaway, Charlie Munger, was commemorated at an event that highlighted his investment philosophy and guiding principles last week.
What Happened: The Museum of American Finance and the Gabelli School of Business at Fordham University hosted the tribute. 
Munger, who died last November at 99 years old, was honored by his close associates, including Tom Gayner, CEO of Markel Group, Don Graham, former publisher of the Washington Post, and Ron Olson, a partner at Munger, Tolles &amp; Olson and a Berkshire director, <a href="https://www.marketwatch.com/story/buffetts-partner-charlie-munger-kept-these-rules-about-investing-and-life-that-you-can-use-too-d4653d2d">reported</a> MarketWatch.
The panelists reflected on Munger&#8217;s enduring principles, investment philosophy and legacy. They discussed Munger&#8217;s advice on inverting, addressing biases, creating a circle of competence, the power of reading and learning, practicing long-term thinking and weighing capital allocation against opportunity cost.
Also Read: <a href="https://www.benzinga.com/news/23/11/35949804/what-does-wealth-mean-to-americans-today-survey-yields-unexpected-responses">What Does &#8216;Wealth&#8221; Mean To Americans Today? Survey Yields Unexpected Responses</a>
Munger&#8217;s famous lesson, &#8220;Invert, always invert,&#8221; suggests that complex problems are often best solved by first considering what not to do. Munger emphasized understanding one&#8217;s own limitations and expanding one&#8217;s knowledge base. Reading and continuous learning were central to his life, they said. Olson summarized Munger&#8217;s legacy with the phrase, &#8220;Read. Learn. Give.&#8221;
Gayner also shared how Munger emphasized the need to address biases that cloud judgment, highlighting curiosity and considering alternative viewpoints as ways to mitigate these biases. Graham shared how his company typically revisits significant capital expenditures three years later to compare expectations with outcomes, a practice that tackles the &#8220;most dangerous psychological tendency: denial.&#8221;
According to Gayner, Munger always stressed the importance of recognizing one&#8217;s limitations while encouraging the expansion of knowledge within a defined &#8220;circle of competence.&#8221;
He also said that Munger valued continuous learning and reading across various disciplines, which contributed to his sharp intellect. The panelists all emphasized the benefits of learning from diverse fields such as chemistry, physics, psychology and history.
Munger advocated for long-term thinking in investing, the panelists noted. Olson highlighted the necessity of patience, while Gayner noted the difficulty of short-term strategies. Both Gayner and Graham discussed their efforts to endow student investment funds that prohibit stock sales for 25 years to teach long-term investment values.
Why It Matters: Munger&#8217;s wisdom has been a guiding light for many. Last year, Munger <a href="https://www.benzinga.com/news/23/05/32319092/secret-to-success-get-toxic-people-out-of-your-life-fast-says-billionaire-charlie-munger">advised getting toxic people out of</a> one&#8217;s life quickly. He also shared a <a href="https://www.benzinga.com/markets/cryptocurrency/23/11/35606191/charlie-munger-shares-key-investment-advice-amid-turbulent-economy">key investment advice</a> amid a turbulent economy, emphasizing the power of a minimalist lifestyle and the importance of reading.
Munger&#8217;s principles align with those of his long-time business partner, Berkshire CEO Warren Buffett. Buffett <a href="https://www.benzinga.com/news/23/03/31512478/warren-buffetts-success-mantra-the-amount-you-are-loved-is-the-ultimate-measure-of-success-in-life">once shared</a> that his mantra on success is &#8220;The amount you are loved is the ultimate measure of success in life.&#8221;
The tribute event served as a reminder of Munger&#8217;s wisdom and the impact of his principles on the world of investment.
Now Read: <a href="https://www.benzinga.com/news/23/09/34193584/warren-buffett-and-elon-musk-both-share-this-same-business-acumen-that-has-led-to-their-success">Warren Buffett And Elon Musk Both Share This Same Business Acumen That Has Led To Their Success</a>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Success Stories

This Famous Piece Of Wisdom From Charlie Munger Can Go A Long Way In Investing — And In Life, Say Investment Experts

Anthony Scaramucci, the former White House communications director, has accused several CEOs of suffering from &#8220;Trump-nesia&#8221; after their participation in a recent Business Roundtable <a href="https://www.benzinga.com/general/politics/24/06/39127315/latest-poll-of-independents-and-republicans-could-spell-trouble-for-donald-trump-following-his-h">meeting with former President Trump.</a>
What Happened: Scaramucci&#8217;s comments came two days post the Business Roundtable meeting. The meeting saw the presence of over 80 CEOs, including Apple CEO Tim Cook and Blackstone Group CEO Steven Schwarzman.
During the meeting, Trump proposed a cut in the corporate tax rate, echoing his previous presidency when he slashed corporate tax rates from 35% to 21%. Scaramucci criticized the CEOs for their support for Trump. 
&#8220;It's a little bit of Trump-nesia. These guys denounced him several times … for some reason, they're decided that now for these little policy promises that he is offering, they're going to switch over to him,&#8221; Scaramucci said during an <a href="https://www.msnbc.com/weekends-with-alex-witt/watch/some-ceos-have-trump-nesia-scamucci-comments-on-trump-s-latest-meeting-with-company-leaders-213055557762">interview </a>with MSNBC.
Scaramucci also voiced his apprehension about the potential repercussions of a Trump presidency, stating, &#8220;The mix of inflation and the general malaise that a Trump presidency would cause is dangerous.&#8221;
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/06/39124499/following-trumps-guilty-verdict-legal-experts-say-he-could-face-this-punishment-instead-of-prison-ti" target="_blank" rel="noreferrer noopener">Following Trump's Guilty Verdict, Legal Experts Say He Could Face This Punishment Instead Of Prison Time</a>
Scaramucci also said that Trump has a plan to deport 15 million people and drive up tariffs to 20 percent. 
"He's better in those rallies where he can talk about electric boats and sharks. He's way better at that than he would be at actually articulating economic policy in front of a bunch of Fortune 500 companies," Scaramucci added.&nbsp;
"He is the chaos candidate," Scaramucci said. "I would just remind these people that they were not happy when he was president."&nbsp;
Jeffrey Sonnenfeld, president of the Yale Chief Executive Leadership Institute, however, disputed recent claims by the Wall Street Journal and Politico that CEOs are starting to prefer Trump over Biden.
He <a href="https://thehill.com/homenews/4724185-scaramucci-suggests-ceos-backing-former-president-have-trump-nesia/">told </a>The Hill, &#8220;Not a single Fortune 100 CEO has donated a single penny to him, which is a break from major CEO support for GOP presidential candidates dating back over a century.&#8221;
Why It Matters: This news comes in the wake of a previous <a href="https://www.benzinga.com/news/24/06/39344443/trump-was-meandering-at-business-roundtable-meeting-with-ceos-say-participants-doesnt-know-what-hes">Business Roundtable meeting</a> where Trump faced criticism from top CEOs. Participants described Trump&#8217;s performance as &#8220;meandering&#8221; and &#8220;all over the map.&#8221;
One CEO noted that Trump failed to provide a clear explanation of how he intended to implement his policy proposals, leading to disappointment among the attendees.
Now Read: <a href="https://www.benzinga.com/news/24/06/39346542/donald-trump-had-several-discussions-about-executing-people-says-ex-trump-official-how-do-you-ration">Donald Trump Had Several Discussions About &#8216;Executing&#8217; People, Says Ex-Trump Official: &#8216;How Do You Rationalize That Is A Person Fit &#8230; To Be President Of The United States?&#8217;</a>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Anthony Scaramucci Slams CEOs For Supporting Donald Trump's Policies In About-Face, Accuses Them Of 'Trump-nesia': 'The General Malaise That A Trump Presidency Would Cause Is Dangerous'

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