Yadea Gr Hldgs Stock (OTC:YADGF), Trade Ideas

Yadea Group Holdings Ltd is an investment holding company. The company and its subsidiaries manufacture and sell electric, two-wheeled vehicles in the People's Republic of China. It is focused on designing, researching, developing, manufacturing and selling electric scooters, electric bicycles, batteries and chargers, and related accessories. The electric two-wheeled vehicles and related accessories segment is mainly engaged in the development, manufacture and sales of electric two-wheeled vehicles and related accessories and the batteries segment is mainly engaged in the production and sales of batteries of the newly acquired Huayu.

YADEA GROUP HLDG GROUP by Yadea Group Holding Ltd

Yadea Group Holdings Ltd

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FinVolution Announced That Its Philippines Financial Application, Juanhand, Has Entered Into A Strategic Cooperation Agreement With UnionBank Of The Philippines

Group 1 Automotive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPI#NYSE">GPI</a>) reported quarterly earnings of $9.49 per share which beat the analyst consensus estimate of $9.38 by 1.17 percent. This is a 13.17 percent decrease over earnings of $10.93 per share from the same period last year. The company reported quarterly sales of $4.47 billion which beat the analyst consensus estimate of $4.38 billion by 2.08 percent. This is a 8.26 percent increase over sales of $4.13 billion the same period last year.

Earnings

Group 1 Automotive Q1 Adj. EPS $9.49 Beats $9.38 Estimate, Sales $4.47B Beat $4.38B Estimate

Lithia Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAD#NYSE">LAD</a>) reported adjusted quarterly earnings of $6.11 per share which missed the analyst consensus estimate of $7.89 by 22.56 percent. This is a 27.61 percent decrease over earnings of $8.44 per share from the same period last year. The company reported quarterly sales of $8.56 billion which beat the analyst consensus estimate of $8.54 billion by 0.19 percent. This is a 22.69 percent increase over sales of $6.97 billion the same period last year.

Earnings Beats

Earnings Misses

Lithia Motors Q1 Adj $6.11 Misses $7.89 Estimate, Sales $8.56B Beat $8.54B Estimate

Zuora Announced That Global Video Game Publisher Ubisoft Has Adopted Zuora To Power Its Ubisoft+ And Rocksmith+ Subscription Services

Eni (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/E#NYSE">E</a>) reported quarterly earnings of $1.04 per share which beat the analyst consensus estimate of $0.56 by 86.25 percent. This is a 43.62 percent decrease over earnings of $1.85 per share from the same period last year. The company reported quarterly sales of $24.908 which missed the analyst consensus estimate of $29.297 billion by 100.00 percent. This is a 100.00 percent decrease over sales of $29.176 billion the same period last year.

Eni Q1 2024 Adj EPS $1.04 Beats $0.56 Estimate, Sales $24.908 Miss $29.297B Estimate

Senator Markwayne Mullin (R-Okla.) has refuted that there is any conflict of interest over his ownership of Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) shares, ahead of a vote to potentially ban TikTok.
What Happened: The senator was questioned on Last Call with CNBC about the optics of voting on the TikTok ban while owning Meta shares. <a href="https://www.benzinga.com/government/24/03/37710878/congress-moves-to-ban-tiktok-could-members-benefit-from-positions-in-social-media-stocks-like-meta-p">Mullin purchased Meta shares in January</a>, leading to speculation that his vote could be influenced by potential profit gains for Meta, a TikTok competitor, if the ban is implemented.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&quot;Do you worry about the optics of voting on this legislation, but also owning <a href="https://twitter.com/search?q=%24META&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$META</a>?&quot; <a href="https://twitter.com/SullyCNBC?ref_src=twsrc%5Etfw">@SullyCNBC</a> asks <a href="https://twitter.com/SenMullin?ref_src=twsrc%5Etfw">@SenMullin</a> ahead of a vote to potentially ban TikTok. <a href="https://t.co/CsvKYx3z3K">pic.twitter.com/CsvKYx3z3K</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1782920183385850067?ref_src=twsrc%5Etfw">April 23, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/equities/24/04/38350014/elon-musk-reacts-to-teslas-pricing-debate-only-a-fool-thinks?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts To Tesla&#8217;s Pricing Debate: &#8216;Only A Fool Thinks ….&#8217;</a>
While Mullin denied divulging details about his market activities, he mentioned that he was not fighting against a company, but the Chinese Communist Party.
&#8220;What I am saying is the Chinese Communist Party should not be allowed to do business openly inside the United States and use the freedom of speech as a protection. They don&#8217;t have protection, the communist party doesn&#8217;t have protection. They are an enemy and we should fight against them with every opportunity we have,&#8221; he said.
Why It Matters: The controversy arises amid increasing regulatory pressure on TikTok. TikTok&#8217;s efforts to <a href="https://www.benzinga.com/news/24/04/38350035/tiktok-to-remove-executive-responsible-for-allaying-us-national-security-concerns-amid-rising-regula">allay U.S. national security concerns</a> have been unsuccessful, leading to the removal of a key executive. The U.S. House of Representatives recently passed a bill requiring TikTok to be sold by its Chinese parent company, ByteDance Ltd., or face a ban in the U.S.
Meanwhile, former President Donald Trump has <a href="https://www.benzinga.com/news/24/04/38368049/trump-reverses-tiktok-ban-stance-accuses-biden-of-favoring-zuckerbergs-meta-doing-it-to-help-faceboo">reversed his stance on the TikTok ban</a>, accusing President Joe Biden of favoring Meta. Trump alleges that Biden is pushing for the TikTok ban to help Meta gain more power.
Analysts from Wedbush believe that while Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) could be the &#8220;likely buyers&#8221; of TikTok, the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38358239/microsoft-and-oracle-could-be-tiktoks-likely-buyers-but-real-winners-would-be-mark-">real winners could be </a>Meta&#8217;s Mark Zuckerberg and Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Sundar Pichai. The TikTok ban bill is part of a larger package aimed at providing aid and bolstering national security measures in support of Ukraine, Israel, and Taiwan. 
Price Action: On Tuesday, Meta stock closed 2.98% higher at $496.10, as per <a href="https://pro.benzinga.com">Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38368953/jim-cramer-sees-nvidia-as-going-from-star-of-the-show-to-being-the-goat-of-the-game?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jim Cramer Sees Nvidia As Going &#8216;From Star Of The Show To Being The Goat Of The Game&#8217;</a>
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GOP Senator Who Owns Meta Stock Denies Conflict of Interest Ahead Of TikTok Ban Vote: 'I Am Not Fighting Against A Company'

Gold, traditionally considered a safe-haven asset, has surprisingly <a href="https://in.benzinga.com/content/38137444/why-are-gold-and-silver-prices-on-a-scorching-rally-find-out-here" target="_blank" rel="noreferrer noopener">rallied alongside riskier investments</a> this year. According to Schiff Gold, a precious metals dealer founded by economist Peter Schiff, the yellow metal still has room to grow, and one reason might surprise you: its increasing use in technology.
The Tech Connection:&nbsp;Schiff Gold argues that precious metals like gold are more connected to technology than most people realize. Many tech products rely on gold as a key component due to its conductive properties.&nbsp;
For example,&nbsp;Nvidia, a leading graphics processing unit (GPU) manufacturer, uses in its products &#8220;conflict-free&#8221; gold as well as tantalum, tungsten, and tin from the Democratic Republic of Congo and &#8220;adjoining countries that do not finance or benefit armed groups in the region.&#8221;
Why Gold?&nbsp;While other metals like copper are generally cheaper, gold&#8217;s unique chemical properties and natural durability make it a desirable choice for certain applications. Despite the higher cost, some companies use gold in chips, internal wiring, and switches.
Looking Ahead:&nbsp;Schiff Gold anticipates a rise in gold usage within the tech sector. &#8220;As competition for the best GPUs heats up and the price of GPUs is likely going to rise due to advances in artificial intelligence, the cost of the metal in GPUs will become less relevant,&#8221; it said.
Currently, gold primarily serves investment and jewelry purposes. However, Schiff Gold finds it fascinating that &#8220;humanity&#8217;s newest and most advanced technology, AI, has looped around to depend on our oldest kind of money.&#8221;
See Also: <a href="https://www.benzinga.com/money/best-commodities-to-buy">Best Commodities To Buy</a>
Why It&#8217;s Important: Schiff&#8217;s high expectations for gold from this industrial use case may be a little farfetched. An &#8220;Interesting Intelligence&#8221; <a href="https://interestingengineering.com/innovation/how-much-gold-is-in-your-computer-and-how-efficient-it-is-to-reclaim-it">story</a> published in September 2020 said, citing estimates, that gold recovered from PCs and laptops ranged from $6 to $12.
Industrial video equipment has a higher proportion of gold, up to even 56 grams per machine.
As the Schiff Gold blog suggested, the quest for making high-performance GPUs may warrant the usage of more gold.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37005660/no-imminent-ai-bubble-burst-says-munster-we-are-at-the-start-of-3-5-year-tech-run">The AI boom is seen to last at least for about </a>three to five years and currently, Nvidia is enjoying a near monopoly position in supplying AI accelerators. The demand for the chips is expected to grow exponentially and more players are expected to enter the fray. A gold rush by tech companies could drive more demand for the yellow metal.
Gold futures are up about 13% for the year-to-date period. They hit a record high of $2,448.80 (intraday) on April 12 before tapering a bit. Hopes that the U.S. Federal Reserve will cut interest rates from the 22-year high have primarily fueled the rally. A Fed rate cut would weaken the dollar and is in turn positive for gold, as the precious metal shares an inverse relation with the greenback.
At the same time, an inflationary economy will also be a positive for gold as investors may prefer to park their funds in safe havens.
The SPDR&nbsp;Gold Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) ended Tuesday&#8217;s session down 0.25% at $215.04, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a>
Read Next:<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38346847/nvidia-in-correction-territory-did-ai-led-tech-stock-bubble-just-burst-this-data-po"> Nvidia Rally Evaporates — Did AI-Led Tech Stock Bubble Just Burst? This Data Point Offers A Clue</a>
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Gold To Rally Even Higher On Nvidia, Big Tech? Schiff's Firm Says AI 'Has Looped Around To Depend On Our Oldest Kind Of Money'

Tesla Inc. CEO <a href="https://www.benzinga.com/topic/elon-musk">Elon Musk </a><a href="https://www.benzinga.com/topic/elon-musk">reacted</a> to Oscar-winning actor Morgan Freeman&#8216;s 2016 admiration, calling the actor &#8220;amazing&#8221; and expressing his own admiration for the Hollywood legend.
What Happened: A 2016 video of Freeman expressing his admiration for Musk recently surfaced on X, formerly Twitter. This drew Musk's attention, who reposted it and praised Freeman.
In the video, Freeman, a self-proclaimed &#8220;huge fan&#8221; of Musk, praised the tech billionaire's innovative ideas and technological advancements, including the SpaceX's reusable rocket ship
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.
Musk, in response, shared the clip on his X account, captioning it &#8220;Morgan Freeman is awesome.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Morgan Freeman is awesome <a href="https://t.co/JcIQ1yMDoc">https://t.co/JcIQ1yMDoc</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1782792093389176986?ref_src=twsrc%5Etfw">April 23, 2024</a></blockquote>
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Users echoed Musk&#8217;s sentiments in the comments, with one user praising Freeman&#8217;s &#8220;forward-looking mindset&#8221; and another commending his &#8220;down-to-earth common sense.&#8221;
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38381758/jim-cramer-weighs-in-after-iphone-sales-reportedly-plummet-19-in-china-in-q1-anothe">Jim Cramer Weighs In After iPhone Sales Reportedly Plummet 19% In China In Q1: &#8216;Another Dump On Apple iPhone Day&#8217;</a>
Others lauded Freeman for his authenticity and humility, with one user describing him as &#8220;definitely a gem.&#8221;
One user pointed out Freeman&#8217;s positive impact on his local community.
Why It Matters: Musk has often been criticized for his decisions recently, especially after his $44 billion acquisition of Twitter.
For instance, when actor <a href="https://www.benzinga.com/news/23/08/33955905/elon-musk-tells-james-wood-to-delete-your-account-after-actor-calls-x-com-owner-a-greedy-capitalist">James Wood </a><a href="https://www.benzinga.com/news/23/08/33955905/elon-musk-tells-james-wood-to-delete-your-account-after-actor-calls-x-com-owner-a-greedy-capitalist">called</a><a href="https://www.benzinga.com/news/23/08/33955905/elon-musk-tells-james-wood-to-delete-your-account-after-actor-calls-x-com-owner-a-greedy-capitalist"> </a><a href="https://www.benzinga.com/news/23/08/33955905/elon-musk-tells-james-wood-to-delete-your-account-after-actor-calls-x-com-owner-a-greedy-capitalist">Musk</a> a "greedy capitalist," the tech billionaire snapped back at him, saying "Delete your account."
Several Hollywood actors, singers, and personalities <a href="Singer%20Sara%20Bareilles">have criticized Musk</a> after his Twitter acquisition, with some saying they will quit the social media platform.
Musk has also had a <a href="https://www.benzinga.com/news/23/07/33144100/elon-musk-and-stephen-king-engage-in-witty-twitter-exchange-over-mark-zuckerberg-rivalry">long-winded back-and-forth</a> with author Stephen King over the latter's opinions about the Tesla CEO.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/04/38357333/elon-musk-reacts-to-tucker-carlson-saying-theres-ton-of-evidence-that-aliens-live-among-us-with-6000?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts To Tucker Carlson Saying There&#8217;s &#8216;Ton Of Evidence&#8217; That Aliens Live Among Us</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.
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Entertainment

Elon Musk Says Morgan Freeman Is 'Awesome' After American Actor Says He's A Huge Fan Of Tesla CEO: 'What He's Done, Nobody Else Has Ever Done'

AFMD

Affimed Announces Acceptance of AFM24 Clinical Abstract For EGFR-wildtype (EGFRwt) Non-Small Cell Lung Cancer (NSCLC) At The 2024 Annual Meeting Of The American Society Of Clinical Oncology

Starting your first job is an exhilarating step into adulthood, complete with new responsibilities and financial freedoms. However, with great power (read: paycheck) comes great responsibility. 
Here are six crucial money management tips I wish someone had whispered in my ear as I signed my first employment contract. 
Budgeting Isn&#8217;t Just a Buzzword
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24020912/image-175-1024x585.png" alt="" class="wp-image-305779" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24020912/image-175-1024x585.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24020912/image-175-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24020912/image-175-768x439.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24020912/image-175-1536x878.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24020912/image-175.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Tracking every penny with a budget is important. Image Generated Via Dall-E</figcaption></figure>
It sounded so tedious at first—tracking every penny? Really? But creating a budget was a game changer. It helped me understand where my money was going and highlighted areas where I could cut back without feeling strapped. Plus, seeing a plan on paper (or an app) made my financial goals much more attainable.
Emergency Funds: Your Financial Safety Net
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24020926/image-176-1024x585.png" alt="" class="wp-image-305780" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24020926/image-176-1024x585.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24020926/image-176-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24020926/image-176-768x439.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24020926/image-176-1536x878.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24020926/image-176.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Emergency funds act as a safety net and a lifesaver, Image Generated Via Dall-E</figcaption></figure>
One word: Lifesaver. I never anticipated the random expenses that could pop up—like a broken-down car or a sudden job loss. Building an emergency fund isn't the most thrilling part of getting a paycheck, but it's definitely one of the smartest. It's all about peace of mind.
Understand Your Taxes
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24035935/image-182-1024x585.png" alt="" class="wp-image-305934" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24035935/image-182-1024x585.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24035935/image-182-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24035935/image-182-768x439.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24035935/image-182-1536x878.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24035935/image-182.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Taxes come as a shock if you are not prepared for them, Image Generated Via Dall-E</figcaption></figure>
The first time I saw my paycheck, I was baffled by how much less I was taking home than I expected. Understanding how taxes work, what tax bracket you're in, and potential deductions can really help maximize your earnings and prevent those nasty surprises come tax season.
Retirement Plans Are Not Just for the Old
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24035503/image-181-1024x585.png" alt="" class="wp-image-305930" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24035503/image-181-1024x585.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24035503/image-181-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24035503/image-181-768x439.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24035503/image-181-1536x878.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24035503/image-181.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Retirement is closer than you think, start preparing early. Image Generated Via Dall-E</figcaption></figure>
The word &#8216;retirement&#8217; seemed so far off it was practically in another galaxy. But starting to save early takes advantage of compound interest and can significantly impact your financial security in the future. Enrolling in a 401(k) and getting that employer match is like getting free money.
Credit Cards: Handle With Care
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24021012/image-179-1024x585.png" alt="" class="wp-image-305783" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24021012/image-179-1024x585.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24021012/image-179-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24021012/image-179-768x439.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24021012/image-179-1536x878.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24021012/image-179.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Credit Cards are not free money and should be used with caution, Image Generated Via Dall-E</figcaption></figure>
They're not free money—something I learned the hard way. Using a credit card responsibly can help build your credit score, which is crucial for future loans for big purchases like a home. But it&#8217;s easy to fall into the debt trap if you're not careful.
Financial Education is Continuous
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24021015/image-180-1024x585.png" alt="" class="wp-image-305784" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24021015/image-180-1024x585.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24021015/image-180-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24021015/image-180-768x439.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24021015/image-180-1536x878.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/24021015/image-180.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Every stage of life brings new financial challenges and opportunities. Continuously educating yourself about personal finance—from reading articles to using financial tools—can empower you to make informed decisions and stay ahead of the game.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38345502/elon-musk-reacts-after-nvidia-stock-plunges-10-and-erases-212b-market-cap-rookie-numbers?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts After Nvidia Stock Plunges 10% And Erases $212B Market Cap: &#8216;Rookie Numbers&#8217;</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

My First Pay Check Didn't Open My Eyes, But The Second One Taught Me A Great Deal About Money — Here Are 6 Things You Should Know

Danfoss Has Chosen HPE GreenLake For SAP S/4HANA Cloud Within The RISE With SAP Program And Deployed In Danfoss Data Centers To Accelerate The Company's Sustainable Cloud Journey

Macro Economic Events

Econ #s

Economics

Germany Ifo Business Climate Index For April 89.4 Vs. 88.9 Est.; 87.9 (Revised) Prior

Germany Current Assessment For April 88.9 Vs. 88.7 Est.; 88.1 Prior

Germany Business Expectations For April 89.9 Vs. 88.9 Est.; 87.7 (Revised) Prior

ALVO

Alvotech Announced Positive Topline Results From A Confirmatory Clinical Study For AVT05, Alvotech's Proposed Biosimilar To Simponi And Simponi Aria (golimumab)

In the latest development, Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) has reportedly projected a slower increase in the production and delivery of its 787 widebody jets. This is primarily due to supplier shortages,
What Happened: Scott Stocker, the 787 vice president and general manager, disclosed the situation to employees at the South Carolina facility via a memo on Monday, Reuters reported. Despite the hurdles, Boeing is determined to incrementally increase its rate to cater to the &#8220;strong demand&#8221;.
The memo highlighted, &#8220;We continue to manage through supplier shortages on a few key parts.&#8221; 
It also mentioned that customers have been notified about the anticipated slower increase in production and deliveries.
The Federal Aviation Administration (FAA) is keeping a close watch on Boeing&#8217;s challenges in procuring certain parts and is in constant communication with the company. The agency&#8217;s primary concern is to ensure that only safe and compliant airplanes are dispatched from the factory.
See Also: <a href="https://www.benzinga.com/news/24/04/38347033/bound-by-courtroom-rules-donald-trump-is-doing-something-uncommon-for-his-public-persona-staying-sil?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bound By Courtroom Rules, Donald Trump Is Doing Something Uncommon For His Public Persona: Staying Silent</a>
Boeing, scheduled to announce earnings on Wednesday, is facing scrutiny over the manufacturing of its 777 and 787 widebody jets. This comes in the wake of allegations by company engineer Sam Salehpour at a U.S. Senate hearing last week, who pointed out inadequate shimming in some areas of the 787 Dreamliner.
Furthermore, the company&#8217;s separate production of its 737 MAX single-aisle jet in Washington state has experienced a significant decline, as U.S. regulators tighten factory inspections and workers slow down the assembly line to complete outstanding work.
A Boeing spokesperson confirmed to <a href="https://pro.benzinga.com">Benzinga</a> about the memo but refrained from divulging further details.
Why It Matters: The latest development comes on the heels of <a href="https://www.benzinga.com/markets/equities/24/04/38330613/boeing-grapples-with-32-whistleblower-complaints-in-3-years-amid-mounting-safety-concerns-report">32 whistleblower complaints</a> against Boeing over the past three years, with allegations of employer retaliation being investigated by the U.S. workplace safety regulator. This has raised significant safety concerns for the company.
Moreover, as Boeing<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38365885/boeing-will-deliver-q1-earnings-while-at-center-of-air-safety-scandal-everybody-wan"> prepares to release its Q1 earnings</a>, investors are keen to see if the company&#8217;s performance can offset the recent scandals that have tarnished its public image.
Price Action: On Monday, the stock closed at 170.48, with a slight increase of 0.22% from the previous close.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38346938/trump-is-a-force-of-nature-reince-priebus-has-raised-70m-for-gop-convention-despite-being-pushed?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Trump Is A Force of Nature&#8217;: Reince Priebus Has Raised $70M For GOP Convention Despite Being Pushed Out</a>
Photo via Shutterstock
Editor's note: This story has been updated with a comment from Boeing on the aforementioned memo
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Boeing Foresees Slower 787 Production Ramp-Up Due To Supplier Shortages: Report (UPDATED)

Elon Musk, the CEO of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), has expressed his dissatisfaction with the term GPU while announcing that the company&#8217;s core AI infrastructure is no <a href="https://www.benzinga.com/news/23/08/34128510/elon-musk-affirms-training-compute-will-not-be-a-constraint-for-teslas-full-self-driving-improvement">longer training-constrained</a>.
What Happened: During the <a href="https://www.benzinga.com/news/earnings/24/04/38390883/tesla-q1-earnings-highlights-ev-giant-misses-wall-street-estimates-makes-cost-cuts-invests-in-ai-sp">first-quarter earnings call</a> on Tuesday, Musk revealed that Tesla has been actively expanding its core AI infrastructure. He stated, &#8220;We are, at this point, no longer training-constrained, and so we&#8217;re making rapid progress.&#8221;
The tech billionaire also disclosed that Tesla has installed and <a href="https://www.benzinga.com/news/24/04/38111017/tesla-ceo-elon-musk-disagrees-with-nvidias-jensen-huang-that-anyone-can-make-their-own-neural-networ">commissioned 35,000 H100</a> computers or GPUs and Tesla anticipates this number to potentially reach around 85,000 by the end of the year, primarily <a href="https://www.benzinga.com/markets/equities/24/01/36707594/not-clear-quips-elon-musk-as-tesla-enthusiast-questions-metas-plan-to-buy-nvidias-ai-chips-equiv">for training purposes</a>. 
See Also: <a href="https://www.benzinga.com/news/24/04/38395385/elon-musk-says-tesla-optimus-humanoid-robot-might-be-available-externally-by-the-end-of-next-year-he">Elon Musk Says Tesla Optimus Humanoid Robot Might Be Available Externally By The End Of Next Year: Here&#8217;s The Progress Report</a>
&#8220;We are making sure that we&#8217;re being as efficient as possible in our training,&#8221; Musk said, adding that it is not just about the number of H100s but &#8220;how efficiently they&#8217;re used.&#8221; 
During the conversation, Musk also expressed his discomfort with the term GPU. &#8220;I always feel like a wince when I say GPU because it&#8217;s not. GPU stand — G stands for graphics, and it doesn&#8217;t do graphics,&#8221; the tech mogul stated. 
&#8220;GPU is [the] wrong word,&#8221; he said, adding, &#8220;They need a new word.&#8221;
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: Musk&#8217;s statement came after Tesla reported its first-quarter financial revenue of $21.0 billion, which showed a 9% year-over-year decrease, missing the Street consensus estimate of $22.15 billion. The company stated that its revenue was affected by reduced average selling prices and decreased vehicle deliveries during the quarter.
On the other hand, Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) last year made a significant impact on the AI and computing sectors by introducing its H100 data center chip, which added more than $1 trillion to the company&#8217;s overall value. 
In February, earlier this year, it was reported that the demand for the H100 chip, which is four times faster than its predecessor, the A100, in training large language models or LLMs and 30 times faster in responding to user prompts, has been so substantial that customers are <a href="https://www.benzinga.com/government/24/02/37283133/nvidias-h100-chip-sparks-ai-revolution-boosting-value-by-1t-as-it-unveils-new-chips-for-china">encountering wait times of up to six months</a>.
Meanwhile, earlier this month, Piper Sandler&nbsp;analyst <a href="https://www.benzinga.com/news/24/04/38257652/nvidias-hopper-demand-and-blackwell-launch-position-makes-it-a-top-large-cap-pick-analysts">Harsh V. Kumar</a> engaged directly with Nvidia's management team and reported that despite Nvidia&#8217;s Hopper GPU being on the market for almost two years, demand remains strong, outstripping supply. <a href="https://www.benzinga.com/news/24/04/38257652/nvidias-hopper-demand-and-blackwell-launch-position-makes-it-a-top-large-cap-pick-analysts">Customers are hesitant to shift their orders</a> from the Hopper to the Blackwell, fearing extended wait times due to anticipated supply limitations.
Check out more of Benzinga&#8217;s Future Of Consumer Tech by <a href="https://www.benzinga.com/topic/consumer-tech">following this link.</a>
Read Next: <a href="https://www.benzinga.com/general/gaming/24/04/38395097/elon-musk-likes-games-originating-from-this-country-because-because-they-havet-been-corrupted-by-w">Elon Musk Likes Games Originating From This Country Because They Haven&#8217;t Been Corrupted By &#8216;Woke DEI Lies&#8217;</a>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo via Shutterstock

NVDA

TSLA

Tesla CEO Elon Musk Says He Feels 'Like A Wince' When Saying 'GPU' As He Boasts Rapid Progress With AI Compute: 'Need A New Word'

Calliditas Therapeutics AB&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CALT#NASDAQ">CALT</a>), (NASDAQ&nbsp;STOCKHOLM: CALTX)&nbsp;(&quot;Calliditas&quot;) today announced that the global open-label extension (OLE) study to the Phase 3 NefIgArd study showed a treatment response consistent with the NefIgArd study across endpoints of urine protein to creatinine ration (UPCR) and estimated glomerular filtration rate (eGFR) at 9 months across all IgAN patients, including those who had previously received Nefecon in the NefIgArd study.

CALT

Calliditas Announces NefIgArd Open Label Extension Results

Evotec Fiscal 2023 Revenue $848.644M Up From $816.11M YoY, Adjusted EBITDA $$.06M

&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4148234-1&amp;h=2946051148&amp;u=https%3A%2F%2Fclarivate.com%2F&amp;a=Clarivate+Plc" target="_blank">Clarivate Plc</a>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLVT#NYSE">CLVT</a>), a leading global provider of transformative intelligence, today announces it has signed the&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4148234-1&amp;h=1345612360&amp;u=https%3A%2F%2Fwww.un.org%2Fsustainabledevelopment%2Fsdg-publishers-compact%2F&amp;a=United+Nations+Sustainable+Development+Goals+(UN+SDGs)+Publishers+Compact." target="_blank">United Nations Sustainable Development Goals (UN SDGs) Publishers Compact.</a>&nbsp;Signatories of the compact pledge to develop sustainable practices and act as champions of the SDGs during the&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4148234-1&amp;h=3871956681&amp;u=https%3A%2F%2Fwww.un.org%2Fsustainabledevelopment%2Fdecade-of-action%2F&amp;a=Decade+of+Action" target="_blank">Decade of Action</a>&nbsp;(2020-2030).

Government

Regulations

CLVT

Clarivate joins United Nations Sustainable Development Goals (UN SDGs) Publishers Compact

Yadea Gr Hldgs