Latest News for Tel Instrument Stock (OTC:TIKK)

Tel Instrument Electronics Corp is a designer and manufacturer of avionics test and measurement solutions for the global commercial air transport, general aviation, and government, military aerospace, and defense markets. It designs, manufactures and sells instruments to test and measure, and calibrates and repairs airborne navigation and communication equipment. The company's reportable segments are Avionics government and Avionics commercial. The avionics government segment consists of the design, manufacture, and sale of test equipment to the U.S. and foreign governments and militaries. The Avionics commercial segment consists of design, manufacture, and sale of test equipment to domestic and foreign airlines. It generates a majority of its revenue from the Avionics Government segment.

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Stocks That Hit 52-Week Highs On Thursday

TEL-INSTR ELECTRONICS CRP by Tel-Instrument Electronics Corp.

Tel Instrument Electronics Corp

As Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) <a href="https://www.benzinga.com/markets/equities/24/04/38312639/tesla-stock-on-free-fall-ahead-of-crucial-q1-earnings-here-are-key-levels-to-watch" target="_blank" rel="noreferrer noopener">fell for a fifth straight session</a> on Thursday, breaching a significant psychological threshold, Cathie Wood&#8216;s Ark Investment Management ramped up its acquisition of the stock, while also bolstering its holdings in crypto-related exchange-traded funds.
Doubling Down On Tesla: Across its&nbsp;ARK Innovation ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>),&nbsp;ARK Autonomous Technology &amp; Robotics ETF&nbsp;(CBOE: ARKQ), and&nbsp;ARK Next Generation Internet ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>), Ark purchased 88,720 Tesla shares on Thursday, amounting to approximately $13.30 million based on Tesla&#8217;s closing price of $149.93.
Ark has been consistently accumulating Tesla shares for three consecutive sessions this week, accumulating a total of $26.89 million worth of shares.
This surge in buying activity comes amid Tesla facing downward pressure throughout the week, with analysts revising their estimates and price targets downward in anticipation of a disappointing earnings report next week. Concerns about the company&#8217;s recent announcement of significant&nbsp;layoffs,&nbsp;plans to seek shareholder approval for CEO&nbsp;Elon Musk&#8216;s compensation package, and uncertainties surrounding the potential deprioritization of the sub-$30,000 electric vehicle have all contributed to the stock&#8217;s weakness.
On Thursday, Tesla closed at its lowest level since January 25, 2023.
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/best-etfs" rel="noreferrer noopener">Best ETFs To Buy Right Now</a>
Expanding Crypto Exposure: While Ark has been <a href="https://www.benzinga.com/markets/equities/24/04/38214834/cathie-woods-ark-invest-sells-20m-coinbase-shares-as-bitcoin-trades-over-70k-buys-palantir-sells" target="_blank" rel="noreferrer noopener">gradually reducing its exposure</a> to crypto-related stocks like Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) and Robinhood Markets, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), it refrained from trading these shares on Thursday. 
Instead, Ark augmented its positions in ETFs with crypto exposure.
<ul>
<li>ARKW bought 22,461 units of ARK 21Shares Active Ethereum Futures Strategy ETF (CBOE: ARKZ) valued at $823,645.</li>
<li>Ark&#8217;s ARK Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>) 490,751 units of its recently launched spot Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) ETF, the ARK 21Shares Bitcoin ETF (CBOE: ARKB) valued at $31.19 million.</li>
<li>Ark&#8217;s ARKW added 42,800 Proshares Ether Strategy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EETH#NYSE">EETH</a>) valued at $2.90 million.</li>
</ul>
ARKB, which commenced trading on Jan. 11, 2024, has appreciated by approximately 36%, riding on the coattails of Bitcoin&#8217;s rally, which has surged by about 34% since its inception.
On the other hand, ARKZ, an actively managed ETF launched by the Wood-led firm, aims for 100% exposure to&nbsp;Ethereum&nbsp;(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) by investing in ether futures contracts. The fund, boasting approximately $11 million in net assets, has yielded approximately 24% year-to-date.
Meanwhile, Bitcoin has strengthened amid escalating geopolitical tensions in the Middle East. At last check, the premier cryptocurrency climbed by 0.72% over the past 24 hours to reach $62,141.40, according to&nbsp;<a target="_blank" href="https://benzinga.grsm.io/lxquj26b2sag" rel="noreferrer noopener">Benzinga Pro data.</a>
ARKK fell 0.26% on Thursday before closing at $42.91.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37891092/5-technologies-that-could-be-worth-220-trillion-by-2030-cathie-woods-ark-predicts-t">5 Technologies That Could Be Worth $220 Trillion By 2030, Cathie Wood&#8217;s ARK Predicts: &#8216;The Time Is Now&#8217;</a>

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

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ARK 21Shares Bitcoin ETF ARK 21Shares Bitcoin ETF

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Cathie Wood Sees Value In Tesla Wreckage As Ark Buys $13M Worth Of EV Giant's Stock, Loads Up On Bitcoin And Ethereum ETFs

Changpeng Zhao, the former CEO of Binance, recently clarified that Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) <a href="https://www.benzinga.com/money/what-is-bitcoin-halving">halving</a> is not akin to a stock split, emphasizing the nascent stage of cryptocurrency understanding.
What Happened: On Friday, Changpeng Zhao took to X, formerly Twitter, to address a question about Bitcoin halving. He stated, &#8220;Someone asked me if bitcoin halving is like a stock split&#8230; We are still early. (Answer is no) Happy halving!&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Someone asked me if bitcoin halving is like a stock split&#8230; We are still early. (Answer is no) Happy halving! <a href="https://t.co/gxAvfOpGQH">pic.twitter.com/gxAvfOpGQH</a>
&mdash; CZ &#x1f536; BNB (@cz_binance) <a href="https://twitter.com/cz_binance/status/1781180083425988959?ref_src=twsrc%5Etfw">April 19, 2024</a></blockquote>
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Zhao, shared his earlier thoughts on halving dated Oct. 9, 2023. The Binance founder reflected on Bitcoin halvings based on his past experiences with the event. 
He said that in the months leading up to the halving, there was typically increased discussion, news coverage, anxiety, and anticipation surrounding Bitcoin.
However, immediately after the halving, the price of Bitcoin didn&#8217;t skyrocket overnight. Despite this, in the year following the halving, Bitcoin&#8217;s price often reached multiple all-time highs, prompting people to wonder about the reasons behind it. Zhao emphasized that while there may not be proven causation between halvings and price movements, history doesn&#8217;t necessarily predict the future.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38284502/dogecoin-killer-shiba-inu-sees-significant-increase-in-token-burn-rate-as-price-recovers-i?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Dogecoin Killer&#8217; Shiba Inu Sees Significant Increase In Token Burn Rate, As Price Recovers — Is A Turnar</a>
Why It Matters: Bitcoin halving is a pre-programmed mechanism that fundamentally impacts the economics of mining and potentially shapes the future price and ecosystem of Bitcoin. The upcoming halving event, the fourth of its kind, is scheduled for around April 20, 2024. This event will slash Bitcoin miner rewards from 6.25 BTC to 3.125 BTC.
Contrary to a stock split, which increases the number of shares of a company without changing its market capitalization, Bitcoin halving reduces the rate at which new tokens are created, effectively limiting the cryptocurrency&#8217;s supply. This fundamental difference underlines Zhao&#8217;s clarification and the importance of understanding the unique dynamics of cryptocurrency.
Price Action: At the time of writing, Bitcoin traded 1.2% higher at $61,961.16, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data. </a>
Photo Courtesy: Wikimedia Commons
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38299089/trump-related-maga-memecoin-onboards-roger-stone-as-partner?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump-Related MAGA Memecoin Onboards Roger Stone As Partner</a>
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Is Bitcoin Halving Like A Stock Split? Binance Founder Changpeng Zhao Says 'No' — Offers Insights On Post-Event Dynamics

With U.S. stock futures trading lower this morning on Friday, some of the stocks that may grab investor focus today are as follows:
Wall Street expects The Procter &amp; Gamble Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) to report quarterly earnings at $1.41 per share on revenue of $20.41 billion before the opening bell, according to data from Benzinga Pro. Procter &amp; Gamble shares fell 0.1% to $157.14 in after-hours trading.
Intuitive Surgical Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>) reported better-than-expected results for its first quarter on Thursday. Intuitive Surgical shares gained 3.5% to $385.60 in the after-hours trading session.
Analysts are expecting American Express Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) to post quarterly earnings at $2.95 per share on revenue of $15.79 billion. The company will release earnings before the markets open. American Express shares fell 1.7% to $213.90 in after-hours trading.
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) reported upbeat earnings and sales results for its first quarter. The company added 9.33 million paid net new subscribers in the first quarter to bring the company to a total of 269.60 million. Netflix shares fell 4.8% to $581.49 in the after-hours trading session.
Analysts expect Schlumberger Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) to post quarterly earnings at 75 cents per share on revenue of $8.69 billion before the opening bell. SLB shares fell 0.5% to $50.69 in after-hours trading.
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/04/38285336/how-to-earn-500-a-month-from-intel-stock-ahead-of-q1-earnings">How To Earn $500 A Month From Intel Stock Ahead Of Q1 Earnings</a>

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Netflix, Procter & Gamble And 3 Stocks To Watch Heading Into Friday

The CNN Money Fear and Greed index showed a slight decline in the overall market sentiment, while the index remained in the &#8220;Fear&#8221; zone on Thursday.
U.S. stocks closed mixed on Thursday, with the S&amp;P 500 falling for a fifth straight session. All major indices are also on course to record losses this week, with the S&amp;P 500 falling more than 2% so far during the week.
On the economic data front, U.S. initial jobless claims came in unchanged from the previous week at 212,000 for the week ending April 18, down from market expectations of 215,000. The Philadelphia Fed Manufacturing Index increased 12 points to a reading of 15.5 in April, topping market estimates of 1.5.
D.R. Horton, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) reported better-than-expected second-quarter financial results. After the closing bell, Netflix Inc  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) reported upbeat earnings and sales results for its first quarter.
Most sectors on the S&amp;P 500 closed on a positive note, with communication services, utilities and consumer staples stocks recording the biggest gains on Thursday. However, information technology and consumer discretionary stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 22 points to 37,775.38 on Thursday. The S&amp;P 500 fell 0.22% at 5,011.12, while the Nasdaq Composite dipped 0.52% at 15,601.50 during Thursday's session.
Investors are awaiting earnings results from The Procter &amp; Gamble (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>), American Express Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) and Schlumberger Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) today.
At a current reading of 34.1, the index remained in the &#8220;Fear&#8221; zone on Thursday, versus a prior reading of 34.3.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read More: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38312296/jim-cramer-recommends-buying-ethereum-or-bitcoin-instead-of-this-stock-lets-not-fool-aro">Jim Cramer Recommends Buying Ethereum Or Bitcoin Instead Of This Stock: &#8216;Let&#8217;s Not Fool Around&#8217;</a>

Investor Optimism Edges Lower; S&P 500 Settles Lower For Fifth Session

American Express Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) is expected to release earnings results for its first quarter, before the <a href="https://www.benzinga.com/quote/AXP/earnings">opening bell on April 19, 2024</a>.
Analysts expect the New York-based company to report quarterly earnings at $2.95 per share, up from $2.19 per share in the year-ago quarter. American Express is projected to report quarterly revenue of $15.79 billion, compared to $13.05 billion in the year-earlier period, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
CLEAR recently extended its partnership with American Express to deliver premium value to members and enhance airport experience.
American Express shares fell 0.1% to close at $217.50 on Thursday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/AXP/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>HSBC analyst Saul Martinez maintained a Buy rating and boosted the price target from $232 to $239 on April 11, 2024. This analyst has an accuracy rate of 65%.</li>
<li>Wells Fargo analyst Donald Fandetti maintained an Overweight rating and increased the price target from $220 to $250 on April 10, 2024. This analyst has an accuracy rate of 71%.</li>
<li>UBS analyst Eric Wasserstrom maintained a Neutral rating and boosted the price target from $188 to $206 on Jan. 29, 2024. This analyst has an accuracy rate of 75%.</li>
<li>BMO Capital analyst James Fotheringham maintained an Underperform and raised the price target from $157 to $159 on Jan. 29, 2024. This analyst has an accuracy rate of 73%.</li>
<li>Baird analyst David George downgraded the stock from Neutral to Underperform with a price target of $190 on Jan. 8, 2024. This analyst has an accuracy rate of 74%.</li>
</ul>
Read This Next: <a href="https://www.benzinga.com/news/24/04/38268727/top-4-tech-stocks-you-may-want-to-dump-in-april">Top 4 Tech Stocks You May Want To Dump In April</a>

Price Target

American Express Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

HMN Financial(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HMNF#NASDAQ">HMNF</a>) reported quarterly earnings of $0.30 per share. This is a 18.92 percent decrease over earnings of $0.37 per share from the same period last year. The company reported $9.16 million in sales this quarter. This is a 8.29 percent decrease over sales of $9.99 million the same period last year.

HMNF

HMN Financial Q1 EPS $0.30 Down From $0.37 YoY, Sales $9.16M Down From $9.99M YoY

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has taken down Meta Platforms&#8217; (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) applications, WhatsApp and Threads, from its China App Store, in response to a Chinese government order.
What Happened: The Chinese government&#8217;s directive specifically targeted WhatsApp and Threads, without providing a detailed explanation of the perceived security threat, Reuters reported on Friday. Other Meta apps including Facebook, Instagram, and Messenger remain accessible in the China App Store.
Apple, in an email statement to Reuters, said, &#8220;The Cyberspace Administration of China ordered the removal of these apps from the China storefront based on their national security concerns. We are obligated to follow the laws in the countries where we operate, even when we disagree.&#8221;
At the time of publishing this article, a Meta spokesperson referred to Apple for further comments while Apple has yet to respond to the queries sent by <a href="https://pro.benzinga.com">Benzinga</a>.
See Also: <a href="https://www.benzinga.com/news/24/04/38288119/chinese-fighter-jets-shadow-us-navy-aircraft-over-taiwan-strait-amid-escalating-tensions-will-resolu?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Chinese Fighter Jets Shadow US Navy Aircraft Over Taiwan Strait Amid Escalating Tensions: &#8216;Will Resolutely Defend National Sovereignty And Security&#8230;&#8217;</a>
Why It Matters: This development follows a <a href="https://www.benzinga.com/markets/asia/23/10/35087405/apple-yields-to-chinese-regulations-developers-now-need-government-license-for-app-store-access">new regulation introduced last August, </a>mandating all apps in China to register with the government or face removal. The deadline for registration was the end of March, and the rules came into effect on Apr. 1. 
Apple has previously removed apps from its China App Store, including The New York Times news app in 2017, and several ChatGPT-like apps in 2021. Apple had initially resisted the Chinese government&#8217;s rules for app stores but eventually complied.
Apple&#8217;s CEO, Tim Cook, recently visited China, a move that analysts suggest could indicate Apple&#8217;s intention to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37927675/tim-cooks-latest-visit-a-sign-apple-could-double-down-on-china-says-analyst-as-ipho">double down on its presence in the country</a>, despite regulatory pressures and declining sales. 
Meanwhile, Meta has faced its own share of challenges in China, partially due to CEO Mark Zuckerberg&#8217;s <a href="https://www.benzinga.com/government/23/07/33097839/mark-zuckerbergs-chants-against-china-proves-costly-for-his-metaverse-ambitions-in-country">unfavorable image in the country</a>.
The removal of the apps comes amid increasing tensions between the U.S. and China, with the U.S. House of Representatives recently<a href="https://www.benzinga.com/markets/asia/24/03/37800098/tiktok-ban-china-has-the-power-to-block-sale-gains-leverage-over-washington"> moving forward on a bill that could ban TikTok</a> in the U.S. unless sold by its owner, ByteDance Ltd.
Price Action: On Thursday, Apple closed 0.57% lower than its previous close at $167.04 while Meta closed at $501.80, indicating a 1.54% increase since its previous close.
Read Next: <a href="https://www.benzinga.com/markets/24/04/38274667/prudent-investors-pay-attention-to-the-extraordinary-treasuries-move-momo-obliviously-buys-stocks?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Prudent Investors Pay Attention To The Extraordinary Treasuries&#8217; Move – Momo Obliviously Buys Stocks</a>
Photo by James Yarema on Unsplash
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Apple Bows To China's Security Concerns: Pulls 2 Meta Products From App Store

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Germany Producer Price Index (MoM) For March 0.2% Vs. 0.0% Est.; -0.4% Prior

U.K. Retail Sales (MoM) For March 0.0% Vs. 0.3% Est.; 0.1% Prior

U.K. Retail Sales (YoY) For March 0.8% Vs. -0.3% (Revised) Prior

Schlumberger Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) is set to release earnings results for its first quarter before the <a href="https://www.benzinga.com/quote/SLB/earnings">opening bell on April 19, 2024.</a>
Analysts expect the Houston, Texas-based company to report quarterly earnings at 75 cents per share, up from 63 cents per share in the year-ago period. SLB is projected to report quarterly revenue of $8.69 billion, compared to $7.74 billion in the year-earlier quarter, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
SLB recently announced an agreement to acquire ChampionX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHX#NYSE">CHX</a>) in an all-stock transaction. Schlumberger will acquire ChampionX, and the shareholders will receive 0.735 shares of Schlumberger in exchange for each ChampionX share.
SLB shares rose 0.3% to close at $50.94 on Thursday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/SLB/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Susquehanna analyst Charles Minervino maintained a Positive rating with a price target of $77 on April 8, 2024. This analyst has an accuracy rate of 65%.</li>
<li>Barclays analyst David Anderson maintained an Overweight rating and cut the price target from $74 to $70 on April 4, 2024. This analyst has an accuracy rate of 69%.</li>
<li>Goldman Sachs analyst Neil Mehta maintained a Buy rating on April 1, 2024. This analyst has an accuracy rate of 71%.</li>
<li>Wells Fargo analyst Roger Read maintained an Overweight rating and boosted the price target from $69 to $70 on Jan. 22, 2024. This analyst has an accuracy rate of 74%.</li>
<li>Raymond James analyst James Rollyson maintained an Outperform rating and increased the price target from $68 to $72 on Oct. 23, 2023. This analyst has an accuracy rate of 71%.</li>
</ul>
Also Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38321908/top-3-consumer-stocks-which-could-rescue-your-portfolio-this-quarter">Top 3 Consumer Stocks Which Could Rescue Your Portfolio This Quarter</a>

Schlumberger Likely To Report Higher Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

U.K. Core Retail Sales (YoY) For March -0.3% Vs. 0.3% (Revised) Prior

U.K. Core Retail Sales (MoM) For March 0.4% Vs. -0.4% (Revised) Prior

The Company received aggregate gross proceeds of&nbsp;US$8 million&nbsp;from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 300,000 ordinary shares at the public offering price after the closing of the Offering, less underwriting discounts.
Proceeds from the Offering will be used for expanding the Company&#39;s business internationally, brand promotion and marketing,&nbsp;and general working capital.

IPOs

Reported Earlier, Top Wealth Group Successfully Closes IPO, Raises $8M

The sales of the first electric car by Chinese smartphone manufacturer Xiaomi Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/XIACF#OTC">XIACF</a>) have reportedly <a href="https://www.benzinga.com/news/24/03/38000440/xiaomis-su7-sedan-aims-to-challenge-teslas-model-s-with-price-lower-than-entry-level-model-3">exceeded expectations </a>by three to five times. 
What Happened: Company CEO Lei Jun revealed the unexpected sales figures during a live stream on Douyin, the Chinese equivalent of TikTok, Reuters reported. 
The SU7, which was launched last month, has a starting price of 215,900 yuan (about $29,829), lower than even the Tesla Model 3 in China. The pricier variants of the sedan, called Pro and Max, start at 245,900 ($33,973) and 299,900 yuan ($41,434), respectively. Xiaomi received over 50,000 orders in less than half an hour of starting to take orders late last month and has already commenced deliveries of select versions of the vehicle. 
In the live stream, the CEO also confirmed that Xiaomi has no plans to build off-road vehicles and will primarily focus on the SU7, Reuters added. 
Why It Matters: Since the launch of the SU7, smaller players in China such as <a href="https://www.benzinga.com/markets/asia/24/04/38141148/chinas-newest-ev-entrant-ignites-another-fierce-price-war-even-small-fry-feel-the-heat">Zeekr have slashed prices</a> on their vehicles in an attempt to protect their market share.
"Xiaomi's car officially debuts, the real revolution in smart cars has officially begun, and China will surely give birth to a great company like Tesla," company CEO&nbsp;Lei Jun&nbsp;<a href="https://www.benzinga.com/markets/asia/24/04/38064533/xiaomi-ceo-predicts-tesla-like-success-as-chinese-ev-debutants-1st-electric-offering-zooms-off-the-l">reportedly said</a> at the delivery ceremony for the founder&#8217;s edition of the car earlier this month.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:&nbsp;<a href="https://www.benzinga.com/news/24/04/38309742/laid-off-by-tesla-heres-what-you-get-and-cant-do-with-their-severance-offer">Laid Off By Tesla? Here&#8217;s What You Get (And Can&#8217;t Do) With Their Severance Offer</a>
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 via Shutterstock

Asia

Retail Sales

XIACF

Chinese EV Contender Xiaomi's Budget 'Tesla Killer' Zooms Past Sales Expectations By 3-5 Times

<ul>
<li>SK hynix and TSMC sign MOU to collaborate on HBM4 development and next-generation packaging technology</li>
<li>SK hynix will adopt TSMC&#39;s cutting-edge foundry process to advance HBM4 performance</li>
<li>Product Design-Foundry-Memory trilateral collaboration to break memory performance limits for AI applications</li>
</ul>

Reported Earlier, SK hynix And TSMC Collaborate On HBM4 Development And Next-Generation Packaging Technology

Robinhood Markets Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) has purportedly ceased 24-hour trading, raising concerns among investors. This action is said to align with the increasing tensions between Iran and Israel.
What Happened: On Friday, finance influencer Amit took to X to address the 24-hour trading halt by Robinhood, saying, &#8220;Robinhood is saying 24-hour trading is currently unavailable. I think this is actually pretty normal and to be expected during what seems like a black swan event and everyone freaking out about this doesn&#8217;t understand the 24-hour trading product.&#8221;
He further explained that the halt is due to the intensity of selling, which is a normal market occurrence. He noted that this is a Robinhood-specific product and that other brokers do not offer this service.
Amit concluded the post by saying, &#8220;What this signals to me is that tomorrow is not going to be pretty for the broader market if Robinhood has to halt trading in the overnight markets. I do agree, however, optics don&#8217;t look the best on this.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24HOOD&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$HOOD</a> Robinhood is saying 24-hour trading is currently unavailable. I think this is actually pretty normal and to be expected during what seems like a black swan event and everyone freaking out about this doesn&#39;t understand the 24 hour trading product. &quot;They are taking away…
&mdash; amit (@amitisinvesting) <a href="https://twitter.com/amitisinvesting/status/1781159455918346264?ref_src=twsrc%5Etfw">April 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Amid the escalating tensions between Iran and Israel, the halt in trading has raised concerns about the broader market&#8217;s performance. This comes on the heels of Israel&#8217;s retaliatory strikes on Iran, Syria, and Iraq, which resulted in a dip in stock market futures and a surge in oil and gold prices.
 Another user named Kelly shared frustration on X over the inability to buy into the black swan dip due to the suspension of after-hours trading on Robinhood, prompted by the Israel/Iran news. Speculation now surrounds the opening price for Robinhood stock tomorrow.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Can't even buy this black swan dip even if you wanted to. All after hours trading is currently suspended on Robinhood because of the Israel/Iran news. What price do you think <a href="https://twitter.com/search?q=%24HOOD&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$HOOD</a> will open at tomorrow? <a href="https://t.co/Hoq20xB2Ib">https://t.co/Hoq20xB2Ib</a> <a href="https://t.co/13I8X1n8Xo">pic.twitter.com/13I8X1n8Xo</a>
&mdash; Kelly &#x1f31f; (@SelfMadeMastery) <a href="https://twitter.com/SelfMadeMastery/status/1781165851372142671?ref_src=twsrc%5Etfw">April 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Meanwhile, a user known as Wolf of My Street on X platform pointed out that Robinhood has the authority to suspend 24-hour market trading at any given time, <a href="https://cdn.robinhood.com/assets/robinhood/legal/ExtendedHoursTradingDisclosure.pdf">referencing</a> Robinhood&#8217;s extended hours trading disclosure.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Robinhood can suspend 24 hour market trading at anytime per their disclosure <a href="https://twitter.com/search?q=%24HOOD&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$HOOD</a> <a href="https://twitter.com/hashtag/HOOD?src=hash&amp;ref_src=twsrc%5Etfw">#HOOD</a> <a href="https://t.co/0604SFsOvw">https://t.co/0604SFsOvw</a> <a href="https://t.co/qbWocz5ukD">https://t.co/qbWocz5ukD</a> <a href="https://t.co/FQfVQyki2v">pic.twitter.com/FQfVQyki2v</a>
&mdash; Wolf of My Street&#x1f3e1; (@Ryan__Rigg) <a href="https://twitter.com/Ryan__Rigg/status/1781161078577152383?ref_src=twsrc%5Etfw">April 19, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cannabis/24/04/38281470/the-court-case-that-could-change-the-cannabis-industry-forever-and-how-it-affects-rescheduling?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">The Court Case That Could Change The Cannabis Industry Forever And How It Affects Rescheduling</a>
Why It Matters: The decision to suspend 24-hour trading comes amid escalating tensions between Israel and Iran. Israel recently launched a series of <a href="https://www.benzinga.com/news/24/04/38328006/israel-reportedly-strikes-iran-syria-iraq-in-retaliation-for-missile-drone-attack">retaliatory strikes</a> following an Iranian missile attack. This has led to a dip in <a href="https://www.benzinga.com/markets/equities/24/04/38328354/stock-market-futures-dip-asian-markets-drop-after-israel-hits-back-at-iran-oil-gold-prices-surge">stock market futures</a> and a surge in oil and gold prices.
Meanwhile, Iran has assured that its <a href="https://www.benzinga.com/news/24/04/38328453/iran-says-nuclear-facilities-safe-after-israeli-strike-us-confirms-escalation">nuclear facilities are safe</a> following the Israeli strike, which was confirmed by a U.S. official. These developments have created a climate of uncertainty in the global market, prompting reactions from major players like Robinhood.
The recent events in the Middle East have been a cause for concern among investors, with fears of a potential <a href="https://www.benzinga.com/news/24/04/38255115/how-irans-attack-against-israel-will-impact-gas-prices-you-pay-at-the-pump">recession</a> looming.
Price Action: According to data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>, Robinhood stock is currently trading at $17.08, reflecting a decrease of 0.29% in after-hours trading on Thursday.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38294335/tesla-analyst-says-expect-fireworks-into-shareholder-meeting-after-ev-giants-proxy-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Analyst Says Expect &#8216;Fireworks&#8217; Into Shareholder Meeting After EV Giant&#8217;s Proxy Filing: &#8216;Clock Has</a>
Image Via Shutterstock 
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Politics

Has Robinhood Halted 24-Hour Trading? Social Media Explodes With Screenshots And Theories: 'Tomorrow Is Not Going To Be Pretty'

For the three months ended March 31, 2024, the Company expects to report net revenue in a range of&nbsp;$199.0 million&nbsp;to&nbsp;$201.0 million, net loss in a range of&nbsp;$(14.9)&nbsp;million to&nbsp;$(13.4)&nbsp;million, and Adjusted EBITDA(1)&nbsp;in a range of&nbsp;$7.65 million&nbsp;to&nbsp;$9.15 million. The Company will issue a press release reporting its&nbsp;first quarter&nbsp;2024 operating results at approximately 8:00 AM EDT on Friday, May 3rd&nbsp;and will host a conference call to discuss these results at 8:30 AM EDT that day. Conference call details can be found later in this press release.

CMLS

Reported Earlier, Cumulus Media Announces Selected Preliminary Q1 Results: Expects To Report Net Revenue Of $199M-$201M, And Net Loss Of $(14.9)M-$(13.4)M

MSFT

Reported Earlier, SK Telecom Collaborates With Aptos Labs, Brevan Howard And Microsoft To Bring Global Institutional Finance On-Chain With Aptos Ascend

Twitter co-founder and Block Inc CEO Jack Dorsey responded to a post by Elon Musk about the recent Israeli airstrike on Iran, advocating for peace and space exploration.
What Happened: On Thursday, Dorsey replied to a tweet by Musk, Owner of X, in which the entrepreneur suggested, &#8220;We should send rockets not at each other, but rather to the stars&#8221;. Dorsey&#8217;s response was a single word: &#8220;only&#8221;.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">only <a href="https://t.co/lyYC9USXln">https://t.co/lyYC9USXln</a>
&mdash; jack (@jack) <a href="https://twitter.com/jack/status/1781180841588072953?ref_src=twsrc%5Etfw">April 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/news/24/04/38305694/former-trump-attorney-says-very-unusual-to-have-lawyers-on-the-jury-they-can-be-a-very-strong-voice?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Former Trump Attorney Says &#8216;Very Unusual&#8217; To Have Lawyers On The Jury: &#8216;They Can Be A Very Strong Voice&#8217;</a>
Musk&#8217;s comment came in response to a post by OSINTdefender, an Open Source Intelligence Monitor, <a href="https://www.benzinga.com/news/24/04/38328177/elon-musk-reacts-to-alleged-israeli-airstrike-on-iran-our-tax-dollars-somehow-also-blowing-up-our-ta">reporting on an alleged Israeli airstrike</a> on Iran&#8217;s 8th Tactical Airbase.
Why It Matters: The exchange between Dorsey and Musk comes amid escalating tensions between Israel and Iran. Israel reportedly launched a <a href="https://www.benzinga.com/news/24/04/38328006/israel-reportedly-strikes-iran-syria-iraq-in-retaliation-for-missile-drone-attack">series of retaliatory strikes</a> on Iran, Syria, and Iraq following an Iranian missile attack on Israel.
The rising tensions and subsequent military actions have had <a href="http://benzinga.com/markets/equities/24/04/38328354/stock-market-futures-dip-asian-markets-drop-after-israel-hits-back-at-iran-oil-gold-prices-surge(opens in a new tab)">significant impacts</a> on global markets. Stock market futures dipped, oil prices surged over 3%, and gold prices climbed due to the uncertainty surrounding the situation.
Photo courtesy: TED Conference on Flickr
Read Next: <a href="https://www.benzinga.com/news/24/04/38263998/trumps-niece-says-ex-presidents-mandatory-courtroom-presence-will-give-jury-front-row-seat-of-his-ba?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Niece Says Ex-President&#8217;s Mandatory Courtroom Presence Will Give Jury Front-Row Seat Of His Bad Behavior: &#8216;Donald Is Finally Confronting His Criminal Charges&#8217;</a>
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Jack Dorsey Reacts To Elon Musk's Call For Peace And Space Exploration Amid Israel-Iran Conflict Escalation

Tel-Instrument Electronics&nbsp; GAAP EPS of -$0.22, revenue of $8.63M

Tel-Instrument Electronics GAAP EPS of $0.06, revenue of $2.87M

Tel-Instrument Electronics&nbsp; GAAP EPS of $0.06, revenue of $2.9M

Tel-Instrument Electronics&nbsp; GAAP EPS of -$0.16, revenue of $1.6M

Tel-Instrument Electronics&nbsp; GAAP EPS of $0.02, revenue of $2.4M

TIKK

Press Releases

Tel-Instrument Electronics Corp. Reports Financial Results For Fiscal Year 2023

Tel-Instrument Electronics Corp. Reports Aeroflex Appeal Loss

Tel-Instrument Electronics Corp. Reports Financial Results For First Quarter FY 2024

Tel-Instrument Electronics Corp. Reports Financial Results For Second Quarter FY 2024

Tel-Instrument Electronics Corp. Reports Financial Results For Third Quarter FY 2024

Tel Instrument

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Latest News for Tel Instrument Stock (OTC:TIKK)

Thursday, February 13, 2020