Latest news for Virtus Newfleet ABS/MBS ETF (ARCA:VABS)

Under normal market conditions, the Fund will invest not less than 80% of its net assets (plus the amount of any borrowings for investment purposes) in investment grade tranches of ABS and MBS, and in derivatives and other instruments that have economic characteristics similar to such investments . The Fund may use derivatives, such as credit default swaps, to increase or hedge (decrease) investment exposure to various fixed income sectors and instruments.

Virtus Newfleet ABS/MBS ETF

TotalEnergies SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTE#NYSE">TTE</a>) shares are trading higher premarket Tuesday. The company inked a Heads of Agreement (HoA) with HD Hyundai Chemical to deliver 200,000 tons of liquefied natural gas (LNG) per year for <a target="_blank" href="https://totalenergies.com/news/press-releases/south-korea-totalEnergies-will-supply-200-000-tons-per-year-of-lng-to-hd-hyundai-chemical-until-2033" rel="noreferrer noopener">seven </a>years starting in 2027.
This agreement aligns with TotalEnergies&#8217; strategy to expand its long-term LNG sales and reinforces its position in South Korea, the third-largest LNG importer globally.
The pricing under the deal will be indexed to both Brent crude oil and the Henry Hub natural gas benchmark.
Gregory Joffroy, Senior Vice President, LNG at TotalEnergies, said, &#8220;We are pleased with this agreement with HD Hyundai Chemical, which will supply natural gas to one of their industrial sites. This agreement allows us to continue securing long-term sales in Asia and reduce our exposure to spot market gas prices.&#8221;
Yesterday, TotalEnergies signed a 10-year agreement to supply Air France-KLM with 1.5 million tons of <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40976214/totalenergies-and-air-france-klm-double-down-on-sustainability-saf-deal-paves-the-way-to-carbon-" rel="noreferrer noopener">sustainable aviation fuel (SAF) through 2035</a>.
Last week, TotalEnergies extended its sales and purchase agreement (SPA) with&nbsp;CNOOC&nbsp;<a target="_blank" href="https://www.benzinga.com//node/40934542" rel="noreferrer noopener">by an additional five years</a>.
Investors can gain exposure to the stock via&nbsp;Advisor Managed Portfolios Miller Value Partners Appreciation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MVPA#NYSE">MVPA</a>) and&nbsp;Octane All-Cap Value Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCTA#NASDAQ">OCTA</a>).
Price Action: TTE shares are up 0.32% at $69.39 premarket at the last check Tuesday.
Read Next:
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<li><a href="https://www.benzinga.com//node/40996232" target="_blank" rel="noreferrer noopener">S&amp;P Settles At Fresh Record High: Investor Sentiment Improves, But Fear Index Remains In &#8216;Greed&#8217; Zone</a></li>
</ul>

Equities

Large Cap

News

Contracts

MVPA

OCTA

TotalEnergies Secures 7-Year LNG Deal With HD Hyundai Chemical: Expanding Reach In Asia's Energy Market

Needham analyst Ryan Koontz reiterates Clearfield (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLFD#NASDAQ">CLFD</a>) with a Buy and maintains $50 price target.

Price Target

Reiteration

Analyst Ratings

CLFD

Needham Reiterates Buy on Clearfield, Maintains $50 Price Target

Shares of Maison Solutions Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSS#NASDAQ">MSS</a>) rose sharply in today's pre-market trading after the company reported a year-over-year increase in <a href="https://www.benzinga.com/quote/MSS/earnings">first-quarter sales results.</a>
Maison Solutions reported $29.60 million in sales this quarter, representing a 114.49% increase over sales of $13.80 million the same period last year.
Maison Solutions shares jumped 91.4% to $1.41 in the pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Heart Test Laboratories, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSCS#NASDAQ">HSCS</a>) gained 69.7% to $4.99 in the pre-market trading session.</li>
<li>Generations Bancorp NY, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GBNY#NASDAQ">GBNY</a>) rose 47.3% to $16.87 in pre-market trading. ESL Federal Credit Union agreed to acquire substantially all assets and liabilities (including deposit account liabilities) of Generations Bank.</li>
<li>MicroAlgo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLGO#NASDAQ">MLGO</a>) shares rose 31% to $0.2598 in pre-market trading.</li>
<li>The Oncology Institute, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TOI#NASDAQ">TOI</a>) gained 20.4% to $0.3497 in pre-market trading. The Oncology Institute recently said Mihir Shah, will transition out of the organization effective Oct. 14, to pursue other opportunities.</li>
<li>Nukkleus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUKK#NASDAQ">NUKK</a>) rose 14.8% to $0.2888 in pre-market trading after gaining 18% on Monday.</li>
<li>flyExclusive, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLYX#NASDAQ">FLYX</a>) gained 12.3% to $2.57 in pre-market trading after dipping 34% on Monday.</li>
<li>Forza X1, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRZA#NASDAQ">FRZA</a>) gained 9.2% to $0.28 in pre-market trading after falling around 7% on Monday.</li>
<li>Futu Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FUTU#NASDAQ">FUTU</a>) shares gained 8.3% to $72.90 in pre-market trading.</li>
<li>Stitch Fix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFIX#NASDAQ">SFIX</a>) shares rose 5% to $3.98 in pre-market trading ahead of quarterly earnings.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>BioVie Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIVI#NASDAQ">BIVI</a>) fell 52.4% to $1.34 in pre-market trading after the company raised $3 million via secondary stock offering of 1.96 million shares at $1.53 per share.</li>
<li>Light &amp; Wonder, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LNW#NASDAQ">LNW</a>) shares dipped 17.1% to $93.43 in pre-market trading after the company received an order from the U.S. District Court for the District of Nevada granting Aristocrat a preliminary injunction relating to L&amp;W&#8217;s Dragon Train game..</li>
<li>Fresh2 Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRES#NASDAQ">FRES</a>) shares fell 16.5% to $1.52 in pre-market trading after gaining 5% on Monday.</li>
<li>Jeffs&#8217; Brands Ltd  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JFBR#NASDAQ">JFBR</a>) shares declined 13.7% to $0.3274 in pre-market trading after jumping 35% on Monday.</li>
<li>Expion360 Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XPON#NASDAQ">XPON</a>) fell 12.6% to $0.1023 in pre-market trading following a 38% gain on Monday.</li>
<li>Kidpik Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PIK#NASDAQ">PIK</a>) fell 12.3% to $2.00 in today's pre-market trading after jumping over 8% on Monday.</li>
<li>Orgenesis Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORGS#NASDAQ">ORGS</a>) shares fell 11.8% to $0.34 in pre-market trading. Orgenesis shares dipped around 25% on Monday after the company announced a 1-for-10 reverse stock split.</li>
<li>Hawaiian Electric Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HE#NASDAQ">HE</a>) shares declined 10.5% to $9.75 in pre-market trading. Hawaiian Electric Industries raised $500 million via secondary stock offering of 54 million shares at $9.25 per share.</li>
<li>Uxin Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UXIN#NASDAQ">UXIN</a>) declined 5.8% to $2.34 in pre-market trading. Uxin shares jumped 54% on Monday after the company reported a year-over-year increase in first-quarter sales results.</li>
<li>Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) shares fell 3.3% to $109.56 in pre-market trading after the company announced a $2 billion private placement of senior convertible notes.</li>
</ul>
Now Read This: 
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<li><a href="https://www.benzinga.com/markets/24/09/40991631/jim-cramer-says-this-utilities-stock-is-a-buy-we-need-cheap-power">Jim Cramer Says This Utilities Stock Is A Buy: &#8216;We Need Cheap Power&#8217;</a></li>
</ul>

Pre-Market Outlook

Markets

Movers

Trading Ideas

BIVI

FLYX

FRES

FRZA

FUTU

GBNY

HSCS

JFBR

MLGO

Merrill Lynch & Strategic Return Notes for Select 10 Index

NUKK

ORGS

SFIX

SNOW

UXIN

XPON

Why Maison Solutions Shares Are Trading Higher By Around 91%; Here Are 20 Stocks Moving Premarket

Following delisting from Nasdaq, the Company expects its common stock will be quoted on the OTCQX Market beginning on&nbsp;October 7, 2024&nbsp;and expects to retain the symbol &quot;GBNY.&quot;

Generations Bancorp NY Reports Voluntary Decision To Delist Its Common Stock From Nasdaq

Needham analyst Ami Fadia reiterates Harmony Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HRMY#NASDAQ">HRMY</a>) with a Buy and maintains $52 price target.

HRMY

Needham Reiterates Buy on Harmony Biosciences, Maintains $52 Price Target

Popular cryptocurrency-based betting platform Polymarket, which has gained prominence this U.S. election season, might be gearing up to launch its own token.
What happened: The so-called decentralized prediction platform was in talks to raise $50 million in fresh funding, tech-focused publication The Information <a href="https://www.theinformation.com/articles/polymarket-discusses-fresh-funding-amid-election-betting-craze">reported </a>Monday, citing sources familiar with the matter.
&#8220;Investors in the round will receive token warrants, which grant them the right to purchase tokens if Polymarket launches them at a later date,&#8221; the report added.&nbsp;
It was further revealed that Polymarket could use the potential token as a way for users to validate the outcome of real-world events.&nbsp;
Polymarket didn't immediately respond to Benzinga's request for clarification on the matter.&nbsp;
Earlier in May, Polymarket <a href="https://www.businesswire.com/news/home/20240513090515/en/Polymarket-Raises-70m-From-Thiel%E2%80%99s-Founders-Fund-General-Catalyst-Vitalik-Buterin-to-Scale-Global-Prediction-Market">announced </a>raising $70 million, led by tech billionaire Peter Thiel's Founders Fund and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) founder Vitalik Buterin.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40994028/elon-musk-dons-his-maga-hat-to-meet-pro-bitcoin-president-javier-milei-duo-discuss-argenti">Elon Musk Dons His MAGA Hat To Meet Pro-Bitcoin President Javier Milei: Duo Discuss Argentina&#8217;s Journey To Normalcy</a>
Why It Matters: Polymarket, built atop Ethereum&#8217;s Layer-2 chain, Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/matic/usd">MATIC</a>) facilitates buying and selling outcome shares using cryptocurrencies. The shares can be redeemed for $1 if the outcome is correct and become worthless if it's incorrect.
Polymarket&#8217;s trade volume has exploded in recent months, with August reaching over $472.7 million and September already seeing $400.21 million, <a href="https://tokenterminal.com/terminal/projects/polymarket?v=ZjhlY2U3ODIzZmM5MGVmNGYwZjA0YjVh">according </a>to the on-chain analytics platform Token Terminal.
With almost $1 billion wagered on who would win the battle for the White House between Donald Trump and Kamala Harris, the platform has profited from the excitement surrounding the U.S. elections.&nbsp;
Should the startup proceed with the token launch, it would be among the most prominent debuts in the recent history of the cryptocurrency market.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40993290/trump-vs-harris-2024-election-betting-odds-show-vice-president-maintains-lead-as-race-near">Trump Vs. Harris: 2024 Election Betting Odds Show Vice President Maintains Lead As Race Nears One-Month Mark</a></li>
</ul>
Photo courtesy: Hubert Burda Media

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

Cryptocurrency

$ETH

$MATIC

Peter Thiel-Backed Crypto-Based Betting Platform Polymarket Might Be Contemplating A Token Launch: Report

Macro Economic Events

Economics

China Central Bank Governor Said Medium Term Lending Rate, Lending Prime Rate Will Further Fall

<a href="https://www.bloomberg.com/news/articles/2024-09-24/china-unveils-broad-support-to-shore-up-real-estate-market" title="https://www.bloomberg.com/news/articles/2024-09-24/china-unveils-broad-support-to-shore-up-real-estate-market">https://www.bloomberg.com/news/articles/2024-09-24/china-unveils-broad-support-to-shore-up-real-estate-market</a>

China Central Bank Governor On Tuesday Said Will Reduce Mortgage Rates For Existing Homes; Said We Must Support The Steady Recovery Of Prices In The Economy

A leading economist in China has vanished following critical comments about President Xi Jinping&#8216;s economic policies.
What Happened: Zhu Hengpeng, deputy director at the Chinese Academy of Social Sciences (CASS), was detained after allegedly criticizing Xi in a private WeChat group. Zhu&#8217;s remarks reportedly included veiled criticisms of Xi&#8217;s leadership and comments on China&#8217;s struggling economy, <a href="https://www.wsj.com/world/china/top-economist-in-china-vanishes-after-private-wechat-comments-50dac0b1">reported</a> The Wall Street Journal on Tuesday.
The investigation into Zhu coincides with the Chinese Communist Party&#8217;s intensified efforts to suppress negative commentary about the country&#8217;s economic health. Under Xi, dissent has been increasingly punished, with critics facing imprisonment or exile.
Zhu, who has held senior positions at CASS for over a decade, was removed from his posts, and his name was erased from online directories.
The probe aligns with an indoctrination campaign at CASS, aimed at enforcing party discipline. CASS President Gao Xiang emphasized the need for officials to be &#8220;fearful in their hearts, careful with their words, and restrained in their actions.&#8221;
Zhu&#8217;s last public appearance was in April at an elder-care conference. He was scheduled to speak at a May event but was replaced without explanation, according to the report. 
See Also: <a href="https://www.benzinga.com/news/24/09/40935722/spacex-ceo-elon-musk-says-anyone-can-go-to-mars-with-spacex-but-journey-would-be-like-a-long-sea-voy?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">SpaceX CEO Elon Musk Says Anyone Can Go To Mars With SpaceX But Journey Would Be Like A &#8216;Long Sea Voyage In Centuries Past&#8217;</a>
Why It Matters: The disappearance of Hengpeng is not an isolated incident but part of a broader trend in China. This follows the high-profile case of Jack Ma, co-founder of Alibaba Group Holdings, who vanished from public view after criticizing <a href="https://www.benzinga.com/news/23/03/31505927/jack-ma-reportedly-returns-to-china-as-xi-jinpings-tech-crackdown-focus-shifts-to-banker-bao-fan">Chinese regulators in 2020</a>.
Ma&#8217;s disappearance and subsequent reappearances, including a recent return to China in March 2023, highlight the ongoing crackdown on influential figures. 
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40971831/putin-ally-who-unveiled-tesla-cybertruck-with-machine-gun-last-month-now-says-elon-musk-remotely-dis?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Putin Ally Who Unveiled Tesla Cybertruck With Machine Gun Last Month Now Says Elon Musk &#8216;Remotely Disabled&#8217; The Militarized EV</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Global

After Criticizing Xi Jinping's Economic Policies, Leading Economist Zhu Hengpeng Reportedly Goes Missing In China

Piper Sandler analyst Brent Bracelin upgrades Salesforce (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) from Neutral to Overweight and raises the price target from $268 to $325.

Upgrades

Piper Sandler Upgrades Salesforce to Overweight, Raises Price Target to $325

AMBA

Ambarella Announced That Its Oculii AI 4D Imaging Radar Technology Is Deployed Worldwide In The 2023 And 2024 Lotus Eletre Electric Hyper-SUV As Well As The 2024 Lotus Emeya Fully Electric Hyper-GT From Lotus Technology

As consideration for the P&amp;A Transaction, ESL Federal Credit Union will pay Generations&nbsp;$26.2 million&nbsp;in cash and Generations Bank will retain its equity at the effective time of the P&amp;A Transaction, less certain reductions and additions.
The P&amp;A Transaction is expected to close late in the&nbsp;second quarter&nbsp;or in the&nbsp;third quarter&nbsp;of 2025.
Generations Bancorp&#39;s shareholders are currently estimated to receive an aggregate of between&nbsp;$18.00&nbsp;and&nbsp;$20.00&nbsp;in cash in exchange for each share of Generations Bancorp common stock owned (the &quot;per share consideration&quot;). I
&nbsp;

ESL Federal Credit Union Agrees To Acquire Substantially All Assets And Liabilities (Including Deposit Account Liabilities) Of Generations Bank; To Pay Generations $26.2M In Cash

In a recent development, Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) has made a final pay offer to its striking workers, but the workers&#8217; union has declined to put it to a vote.
What Happened: Boeing, on Monday, made a <a href="https://www.benzinga.com/news/24/09/40992886/boeing-stock-climbs-as-company-sweetens-labor-deal-what-you-need-to-know">&#8220;best and final&#8221; pay offer</a> to its striking workers, which included reinstating a performance bonus, enhancing retirement benefits, and doubling a ratification bonus to $6,000 if the workers accepted the offer by Friday, Reuters reported on Tuesday.
The International Association of Machinists and Aerospace Workers (IAM) declined to vote on the offer, stating that the planemaker had refused to negotiate over the proposal, which did not meet the members&#8217; demands.
&#8220;Logistically we don&#8217;t have the ability to set up a vote for 33,000 people in a few days like that anyway. Plus, it missed the mark on many of the things our members said were important to them,&#8221; said Jon Holden, the president of IAM District 751.
&#8220;We are not obligated to vote (on) their offer. We may, down the road. But our hope is that we can get into some discussion so we can actually address the need of our members.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/40972472/x-rays-microwaves-and-now-what-this-company-freezes-weed-at-320-f-to-kill-mold-and-save-a-ton?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">X-Rays, Microwaves And Now What? This Company Freezes Weed At -320°F To Kill Mold And Save A Ton</a>
The strike, which began on Sep. 13, is the union&#8217;s first since 2008. The workers, who are seeking a 40% pay increase and the reinstatement of a performance bonus, had previously rejected an offer by the company.
Why It Matters: The rejection of Boeing&#8217;s final offer comes after the company sweetened its labor deal in an attempt to end the strike that has been costing the planemaker hundreds of millions of dollars each week. The strike began after <a href="https://www.benzinga.com/trading-ideas/technicals/24/09/40942814/boeing-braces-for-turbulence-as-strikes-furloughs-send-stock-sliding-bearish-signals-pre">more than 30,000 machinists </a>in Seattle and Oregon rejected Boeing&#8217;s latest contract offer, with 96% voting to walk off. Despite a 25% raise on the table, workers argued the offer failed to match the skyrocketing cost of living in the Seattle area. Negotiations remain tense, and the union&#8217;s frustration is mounting.
Boeing&#8217;s stock has been affected by the strike, with the company furloughing thousands of U.S. employees, executives, and non-essential contractors in a bid to cut costs.
Price Action: As per <a href="https://pro.benzinga.com">Benzinga Pro</a>, Boeing stock closed 1.96% higher at $156.30 on Monday after the company presented the new deal. However, post the rejection, the stock was trading only slightly lower, around 0.15%, during Tuesday&#8217;s pre-market.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40969619/trump-ally-sarah-huckabee-sanders-jabs-kamala-harris-for-not-having-biological-children-doesnt-have?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Ally Sarah Huckabee Sanders Jabs Kamala Harris For Not Having Biological Children: &#8220;Doesn&#8217;t Have Anything Keeping Her Humble!&#8221;</a></li>
</ul>
Photo via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

General

Boeing's Striking Workers Reject 'Best And Final' Offer: '...It Missed The Mark On Many Of The Things'

-Reuters Citing Senior Administration Official

APDN

GOVX

MRNA

TNXP

VRAX

President Biden Will Announce Donation Of 1M MPox Vaccine Doses, At Least $500M To African Countries To Support Their Response To Outbreak

XPeng (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) CEO Xiaopeng He said late last week that the Chinese EV maker made its 500,000th vehicle. 
What Happened: &#8220;XPENG&#8217;s 500,000th Smart EV has rolled off the line!&#8221; the CEO announced on social media platform X, formerly Twitter. The CEO also added that it produced 10,000 units of the Mona M03 all-electric hatchback coupe in just 22 days after its launch in late August.
XPeng has been scaling sales through the course of the year, despite <a href="https://www.benzinga.com/markets/equities/24/09/40669363/teslas-china-rivals-report-steady-august-sales-performance-amid-intense-price-competition-what-i">lagging behind its peers</a> such as Li Auto.
In the eight months ended August, XPeng delivered 77,209 EVs, marking an increase of 17% from the corresponding period last year.
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="416" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24042306/Je25j-xpeng-deliveries-over-the-years-1024x416.png" alt="" class="wp-image-562565" style="width:576px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24042306/Je25j-xpeng-deliveries-over-the-years-1024x416.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24042306/Je25j-xpeng-deliveries-over-the-years-300x122.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24042306/Je25j-xpeng-deliveries-over-the-years-768x312.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24042306/Je25j-xpeng-deliveries-over-the-years.png 1240w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Why It Matters: In the second quarter alone, XPeng delivered 30,207 EVs and accrued a net loss of $0.18 billion and total revenue of $1.12 billion.
The EV maker, however, is yet to turn a profit. 
The company launched the <a href="https://www.benzinga.com/markets/equities/24/09/40794637/whats-going-on-with-xpeng-stock-today">Mona M03 late last month in China</a>, with a starting price of RMB 119,800 ($17,025). Its more premium variant starts at RMB 155,800 ($22,141), still lower than Tesla Inc.&#8217;s cheapest offering- the Model 3- which starts at over RMB 200,000.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
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<li><a href="https://www.benzinga.com/markets/equities/24/09/40979752/elon-musk-says-buses-wont-be-needed-once-tesla-robotaxis-start-operating-will-take-people-point-" target="_blank" rel="noreferrer noopener">Elon Musk Says Buses Won't Be Needed Once Tesla Robotaxis Start Operating: ‘Will Take People Point To Point For A Similar Cost'</a></li>
</ul>
Photo courtesy: Xpeng

Tech

XPEV

XPeng Touches Production Milestone Of 500K EVs: Here's How Many Electric Cars The Chinese Company Has Delivered

ByteDance&#8217;s TikTok on Monday removed accounts linked to Russian state media outlets RT and Sputnik for <a href="https://www.benzinga.com/markets/equities/24/09/40891684/mark-zuckerbergs-meta-banishes-russian-state-media-globally-to-counter-foreign-influence-rt-and-">violating community guidelines</a>.
What Happened: The social video app stated that the accounts associated with TV-Novosti and Rossiya Segodnya, the parent organizations of RT and Sputnik, were permanently banned for engaging in deceptive behavior. TikTok had already restricted the visibility of these accounts in the European Union and the United Kingdom, <a href="https://www.nbcnews.com/news/us-news/tiktok-removes-rt-sputnik-covert-operations-rcna172358?ref=biztoc.com">reported</a> to NBC News.
Both outlets reported over the weekend that some of their accounts had been deleted without explanation. Sputnik criticized the ban on X, <a href="https://x.com/SputnikInt/status/1837470299077439663">stating</a> that their subscribers are now deprived of crucial geopolitical information.
Secretary of State Antony Blinken has claimed that Russian outlets like RT have transitioned from media operations to covert intelligence activities. Federal prosecutors have charged two RT employees with running a $10 million project to promote Russia-aligned narratives while concealing the funding source, according to the report.
RT's editor-in-chief, Margarita Simonyan, has defended the organization, asserting it will continue its operations in the U.S. despite the bans, according to the report.
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Why It Matters: This move by TikTok comes amid a broader crackdown on Russian state media by major social media platforms. Last week, Meta Platforms Inc. announced a global ban on RT and Rossiya Segodnya, escalating its efforts to <a href="https://www.benzinga.com/markets/equities/24/09/40891684/mark-zuckerbergs-meta-banishes-russian-state-media-globally-to-counter-foreign-influence-rt-and-">combat foreign interference</a>. This ban followed accusations that these outlets used deceptive tactics for covert influence operations online.
Additionally, TikTok is undergoing significant internal changes. On Saturday, TikTok's head of global marketing, Kate Jhaveri, resigned <a href="https://www.benzinga.com/news/24/09/40969365/tiktok-global-marketing-chief-resigns-amid-major-overhaul-heres-what-the-leaked-memo-says">amid a major overhaul</a> aimed at restructuring the company&#8217;s marketing function.
Meanwhile, a three-judge panel at the DC Circuit Court of Appeals last week expressed skepticism during oral arguments in a case involving TikTok and a group of creators contesting a law often referred to as "the TikTok ban." The judges scrutinized TikTok's counsel more rigorously than the U.S. Department of Justice, indicating <a href="https://www.benzinga.com/news/24/09/40890877/tiktoks-future-hangs-in-balance-as-judges-express-skepticism-in-us-court-battle">potential challenges ahead for the platform</a>.
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Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Social Media

Legal

After Meta, TikTok Cracks Down On Russian State Media By Banning RT And Sputnik Accounts For Violating Guidelines

Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) is gearing up to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40989179/meta-connect-2024-preview-cheaper-vr-expected-analysts-see-augmented-reality-and-ai">announce that its AI chatbot</a> will reportedly be able to mimic the voices of celebrities such as Judi Dench, John Cena, and others.
What Happened: Meta has secured agreements with several actors,&nbsp;including Dench, Kristen Bell, and Cena, to voice its AI chatbot, reported Reuters, citing a source familiar with the plans.
This new audio feature will enable users to choose a voice for Meta&#8217;s&nbsp;digital assistant from a list&nbsp;of five celebrities, which also includes Awkwafina and Keegan-Michael Key, in addition to several generic voice options.
The social media behemoth plans to unveil these&nbsp;audio capabilities at its annual&nbsp;Connect conference, which kicks off on Wednesday.
The celebrity voices will start rolling out in the U.S. and other English-speaking markets this week across Meta&#8217;s suite of apps, which includes Facebook, Instagram, and WhatsApp.
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Meta is also anticipated to reveal the first iteration&nbsp;of its augmented-reality glasses at&nbsp;the Connect conference this year. 
The company has been striving to launch&nbsp;generative artificial intelligence products to&nbsp;its billions of users, vying against ChatGPT-parent OpenAI and Alphabet Inc.&#8217;s Google.
Meta&nbsp;CEO Mark Zuckerberg posted a&nbsp;promotional video featuring Cena on&nbsp;Instagram last week, showing the&nbsp;two men and several others&nbsp;engaging in stunts while wearing&nbsp;the Ray-Ban Meta glasses.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
<figure class="wp-block-image size-large is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24041554/Screenshot-2024-09-24-at-1.45.31%E2%80%AFPM-1024x923.png" alt="" class="wp-image-562553" style="width:529px;height:auto" /><figcaption class="wp-element-caption">Screenshot</figcaption></figure>
Why It Matters: This latest development by Meta comes in the wake of a controversy involving&nbsp;OpenAI and Scarlett Johansson, where the actress accused the AI company of using a voice modeled <a href="https://www.benzinga.com/general/entertainment/24/05/38951041/scarlett-johanssons-clash-with-openai-over-chatgpt-voice-reveals-dark-side-of-ai">after hers without consent</a>.
This incident highlighted the need for regulations to protect artists and creators from being exploited by AI tools.
Elon Musk, CEO of Tesla and SpaceX and founder of xAI, <a href="https://www.benzinga.com/news/24/05/38949924/obviously-a-ripoff-elon-musk-slams-openai-for-mimicking-scarlett-johansson-in-gpt-4o-they-were-liter">also criticized OpenAI</a>, the company he co-founded in 2015 but later parted ways with, for replicating the actor's voice.
The&nbsp;Screen Actors Guild-American Federation of Television and Radio Artists or SAG-AFTRA also&nbsp;<a href="https://www.benzinga.com/general/entertainment/24/05/38956092/scarlett-johansson-gets-backing-from-actors-union-in-ai-voice-dispute-with-openai">supported Johansson in her</a> dispute with OpenAI.
The use of AI to replace voice actors and creators was a central topic of debate during last year's writers&#8217; strike in Hollywood.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer: 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 courtesy: Shutterstock

Media

Meta's AI Chatbot To Mimic Voices Of Celebrities Like Judi Dench And John Cena: Here's What Mark Zuckerberg-Led Company Has Learned From OpenAI-Scarlett Johansson Fiasco

With only 40 days remaining until the election,<a href="https://www.benzinga.com/topic/mary-trump"> Mary Trump,</a> the niece of former President Donald Trump and a psychologist, warned about potential attempts to undermine the electoral process.
Reading Between Lines: Every time Donald Trump opens his mouth, something &#8220;incomprehensible, delusional, or terrifying&#8221; comes out of it, which is outrageous and shocking, said Mary Trump in a substack post on Monday. That said, the psychologist and author said Americans should pay attention to what her uncle keeps saying over and over again.
She noted that Donald Trump said in a recent interview that he doesn&#8217;t need votes and that he has so many votes. &#8220;We should be suspicious of a man who, while running for president, tells people he doesn't need any more votes,&#8221; she said.
Trump Campaign did not immediately respond to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga's</a> request for comment.
Reading between the lines, Mary Trump said a lack of interest shown by her uncle to campaign is potentially due to his preparing for cheating.
&#8220;Just as in 2020, Donald's coup is already well underway,&#8221; Mary Trump said. He has been spreading lies that the Democrats are trying to steal the election, falsely claiming that the election is being rigged against him, she said. &#8220;He's convinced that his right to be back in the White House supersedes his need to play by the rules,&#8221; she said, adding that &#8220;his followers feel the same way.&#8221;
The election board of Georgia, which has a &#8216;MAGA majority,&#8217; voted three to two to require hand-count of ballots, said Mary Trump, calling it an &#8220;example of engineering election results in a key swing state. This will cause, which the Republican campaign is counting on,&#8221; she said.
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Reaching Out To MAGA Base: Mary Trump noted that her uncle never appeals to voters beyond his base, neither to independents nor women in the suburbs.
The reason why he is talking so much to his base this close to the election is that he is confident that his &#8220;sycophants and enablers—from local election boards to the U.S. Congress—are going to pre-rig the results in swing states where polls show a frighteningly close race,&#8221; she said.
Call To Nebraska Voters: Mary Trump also flagged the risk of Sen. Lindsey Graham (R-S.C.) working to change the way Nebraska awards its electoral votes. Nebraska and Maine both give two electoral votes to the winner of the state and one electoral vote to the winner of each Congressional district as opposed to the other states, which are &#8220;winner-take-all,&#8221; she said.
Graham has been pressuring the Nebraska legislators to change the methodology currently in place, she said.
One potential vote in the Omaha area, according to Mary Trump, can get Democrats to 270 electoral voters if they also win <a href="https://www.benzinga.com/news/24/09/40969584/trump-vs-harris-this-candidate-has-the-edge-in-latest-swing-state-polls">Michigan, Pennsylvania and Wisconsin. </a>
&#8220;Though it's a long shot, under the right circumstances that one electoral vote could decide the presidential election in a country that, because of the electoral college, does not honor the principle of &#8216;one person, one vote,'&#8221; she said.
Graham&#8217;s efforts have been stymied by holdouts from his party such as Sen. Mike McDonnell (R-Neb.), she added.
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Image via Shutterstock

Politics

Trump's Niece Slams Republicans For 'Engineering' Election Results In Key Swing State Of Georgia: 'Donald's Coup Is Already Well Underway'

Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) a global payments giant reportedly faces charges by the United States Department of Justice for allegedly monopolizing the domestic debit card industry
What Happened: DOJ&#8217;s antitrust division is expected to accuse Visa in federal court due to its participation in various anti-competitive activities, <a href="https://www.bloomberg.com/news/articles/2024-09-23/visa-faces-justice-department-antitrust-case-over-debit-cards">reported</a> Bloomberg on Tuesday, citing people familiar with the matter. 
These measures include exclusivity agreements intended to keep rivals from entering the debit card industry.
The case is the outcome of years-long&nbsp;research into Visa&#8217;s business practices that started in the wake of the company&#8217;s failed acquisition attempt of Plaid Inc in 2021. Visa&#8217;s &#8220;tokenization&#8221; technology pricing was also examined by the Justice Department.
According to the report, the government believes Visa&#8217;s actions hindered the expansion of rival networks and blocked technology companies from entering the market. 
Last year, Mastercard Inc. settled a separate enforcement action by the U.S. Federal Trade Commission concerning its tokenization technology practices.
Visa and the Justice Department did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
See Also: <a href="https://www.benzinga.com/etfs/sector-etfs/24/09/40990914/oil-falls-energy-stocks-flat-as-fears-of-demand-drop-off-eclipse-israel-hezbollah-conflict-escal">Oil Falls, Energy Stocks Flat As Fears Of Demand Drop Eclipse Israel-Hezbollah Conflict Escalation</a>
Why It Matters: The Justice Department&#8217;s lawsuit against Visa is part of a larger series of antitrust cases that the federal agency is pursuing against big firms.
The DOJ has been aggressively pursuing prosecutions in <a href="https://www.benzinga.com/news/24/09/40758622/doj-probes-googles-ai-strategy-as-it-looks-to-snap-its-monopoly-in-search">recent times to stop monopolistic activities</a> across various industries. For example, Alphabet Inc.&#8217;s AI strategy and market dominance in search are the subject of a DOJ investigation.
The DOJ has also been <a href="https://www.benzinga.com/government/24/09/40719936/nvidia-has-not-been-subpoenaed-by-doj-whats-going-on">investigating other large technology companies</a>, such as NVIDIA Corp., for possible antitrust breaches, however, the chipmaker clarified it has not received any subpoenas, the day after the company lost over $300 billion in market capital following the news. 
Visa&#8217;s case comes after a series of <a href="https://www.benzinga.com/government/24/08/40140918/tiktok-is-repeat-offender-with-childrens-privacy-violations-doj-says-in-lawsuit">well-known antitrust cases</a>, such as one against TikTok, a social media company owned by ByteDance, for allegedly breaking children&#8217;s privacy rules.
Price Action: On Monday Visa Inc.&#8217;s stock traded at $288.63 and saw a gain of 1.36%. The stock fell 1.78% during after-hours trading. However, the <a href="https://www.benzinga.com/pro/login">data from Benzinga Pro</a> suggests that Visa has risen by 11.50% so far this year.
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Image Via Shutterstock

Visa Reportedly Faces DOJ Antitrust Lawsuit Alleging Monopolization Of US Debit Card Market Amid Regulatory Crackdown

SMTC

Semtech Announced Availability Of Its One-channel LoRaWAN Hub Reference Design And Evaluation Kit Targeting Smaller Scale Network Deployments Such As For SMB/SME And Smart Home Applications