Zenovia Digital Exchange Stock (OTC: ZDEC)

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Zenovia Digital Exchange Corp designs and assembles motorsport racing vehicles for its own use and plans to compete in organized racing events. The company generates revenue from the leasing of race truck chassis and its motor coach to motorsports organizations competing in the NASACAR Camping World Truck Series.

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ZENOVIA DIGITAL EXCH CORP by Zenovia Digital Exchange Corporation

Zenovia Digital Exchange Corp

Chip giant Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) reportedly <a href="https://www.benzinga.com/markets/equities/24/09/40673694/intel-ceo-pat-gelsinger-to-present-board-with-major-asset-sale-and-cost-cutting-plan-including-h">approached its struggling</a> competitor Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) for a possible takeover.
What Happened: Qualcomm&#8217;s takeover attempt was in recent days, which if it goes through, would be monumental given Intel&#8217;s&nbsp;market value of roughly $90&nbsp;billion, <a href="https://www.wsj.com/business/deals/qualcomm-approached-intel-about-a-takeover-in-recent-days-fa114f9d">reported</a> The Wall Street Journal, citing people familiar with the matter.
However, the deal is far from a sure thing, with potential antitrust scrutiny posing a significant obstacle.
Intel, once the world&#8217;s most valuable chip company, has seen its shares plummet by about 60% this year.
The company&#8217;s market value was above $290 billion as recently as 2020. Qualcomm, on the other hand,&nbsp;has a market value of&nbsp;around $185 billion.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40893054/mark-cuban-says-he-would-buy-rupert-murdochs-fox-news-and-elon-musks-x-but-there-are-some-obstacles?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Says He Would Buy Rupert Murdoch&#8217;s Fox News And Elon Musk&#8217;s X But There Are Some Obstacles: &#8216;If I Had Enough… I&#8217;d Buy It In A Heartbeat&#8217;</a>
A potential deal would significantly broaden Qualcomm&#8217;s scope, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/36882810/qualcomm-extends-its-deals-with-apple-and-samsung-analyst-calls-it-a-not-surprising">supplementing&nbsp;its mobile phone chip</a> business with Intel&#8217;s chips, which are widely used&nbsp;in personal computers and servers.
Both companies are striving to take advantage of the artificial intelligence boom, but they have been eclipsed by AI chip giant Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
Intel has been <a href="https://www.benzinga.com/markets/equities/24/08/40593141/intel-board-member-lip-bu-tan-reportedly-left-after-disputes-with-ceo-and-other-directors-over-c">dealing with significant crises</a>, including a disappointing quarterly report in August, which led to <a href="https://www.benzinga.com/government/24/08/40230583/intels-8-5b-government-windfall-fails-to-stop-15-000-layoffs-at-chipmaker">plans for layoffs</a> and a halt in dividend payments.
The company also&nbsp;reported a loss of $1.6&nbsp;billion for the second quarter, compared with a $1.5 billion&nbsp;profit a year earlier.
Qualcomm&#8217;s&nbsp;approach follows a more than&nbsp;three-year turnaround effort at Intel&nbsp;under CEO Pat&nbsp;Gelsinger that has yet to yield significant results, the report noted
If the takeover is successful, it&nbsp;would rank as the all-time&nbsp;largest technology M&amp;A deal, surpassing Microsoft Corporation&#8217;s&nbsp;<a href="https://www.benzinga.com/general/gaming/23/10/35240972/microsofts-gaming-powerhouse-grows-activision-blizzard-bought-for-69-billion">$69 billion acquisition</a> of Activision&nbsp;Blizzard.
Why It Matters: In August, <a href="https://www.benzinga.com/news/earnings/24/08/40115276/intel-stock-falls-after-weak-q2-results-new-cost-reduction-plan-15-headcount-reduction">Intel posted quarterly earnings</a> of 2 cents per share, falling 80% short of the analyst consensus estimate of 10 cents and reflecting an 84.62% decline from the same quarter last year.
Revenue for the quarter was $12.83 billion, slightly below the expected $12.94 billion and down 0.9% year-over-year.
The Data Center and AI segment brought in $3 billion, a 3% decline, while Client Computing revenue rose 9% to $7.4 billion, and Network and Edge revenue slipped 1% to $1.3 billion.
On the other hand, Qualcomm has been performing well, with a <a href="https://www.benzinga.com/news/earnings/24/07/40080595/qualcomm-q3-earnings-highlights-revenue-beat-eps-beat-strong-execution-of-our-growth-and-diversific">third-quarter earnings report</a> highlighting an 11% year-over-year revenue increase.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/09/40914747/jpmorgan-ceo-jamie-dimon-thinks-social-media-platforms-like-tiktok-and-facebook-are-a-total-stupid-w?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">JPMorgan CEO Jamie Dimon Thinks Social Media Platforms Like TikTok And Facebook Are ‘A Total Stupid Waste Of Time'</a></li>
</ul>
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.
Image via Shutterstock

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QCOM

Qualcomm Reportedly Eyes Potential Takeover Of Intel Amid 60% Stock Decline, But Antitrust Concerns Loom

The similarities between Tesla Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock performance this year compared to 2019 are &#8220;striking,&#8221; The Future Fund LLC managing partner Gary Black said on Friday, throwing caution to short sellers.
What Happened: Similar to how Tesla was gearing up to launch the Model Y in 2019, the company is now planning new vehicles, <a href="https://www.benzinga.com/news/24/06/39331612/elon-musk-teases-three-new-vehicles-at-teslas-annual-shareholder-meeting-more-affordable-model-incom">including more affordable models</a>, with the start of production slated for the first half of 2025.
In 2019, Tesla shorts believed that the Model Y was just a larger Model 3 and would grab market share of the Model 3, Black said. &#8220;In hindsight the shorts failed to realize Model Y vaulted TSLA into the hot-selling CUV category where it quickly become the #1 seller,&#8221; he added. Model Y is currently Tesla&#8217;s best-selling vehicle. 
Likewise, in 2025, the new affordable model of Tesla will increase Tesla&#8217;s total addressable market, Black said.
&#8220;Shorts again wrongly believe the TSLA compact will cannibalize Model 3, even though Model 3 competes in the affordable sedan segment. As with Model Y, TSLA will sell every TSLA Compact it makes, and earnings estimates will again run ahead of the stock price as they did in 2020, pushing the stock price higher,&#8221; Black wrote.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> similarities between 2019 and 2024 are striking. <a href="https://twitter.com/search?q=%24TSLAQ&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLAQ</a> shorts should listen up. In 2019, TSLA was gearing up for launch of the Model Y, a CUV that would essentially double TSLA TAM. The shorts believed Model Y was just a bigger Model 3 and thought erroneously that Model… <a href="https://t.co/QHpvD0h8O9">pic.twitter.com/QHpvD0h8O9</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1837268469139546597?ref_src=twsrc%5Etfw">September 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Tesla boomed in 2020 upon the release of the Model Y, Black noted, while adding that the same phenomena of positive earnings revisions driving the stock price higher could occur in 2025 when the more affordable vehicle is released.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="650" height="450" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20222144/newplot-2-3.jpeg" alt="" class="wp-image-559411" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20222144/newplot-2-3.jpeg 650w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20222144/newplot-2-3-300x208.jpeg 300w" sizes="(max-width: 650px) 100vw, 650px" /><figcaption class="wp-element-caption">Tesla Stock Trajectory In 2020</figcaption></figure>
Why It Matters: Tesla said during its second-quarter earnings report that the <a href="https://www.benzinga.com/news/24/08/40156978/tesla-ceo-elon-musk-admits-lower-priced-evs-from-rival-automakers-are-a-problem-but-not-one-that-wil">upcoming affordable vehicle</a> will be able to be produced on the same manufacturing lines as its current vehicle lineup. The company has yet to provide a price range or details on its new affordable vehicle but Black believes it would be priced between $25,000 and $30,000.
The Model 3 is currently the cheapest offering from Tesla. Its cheapest version starts at $38,990 in the U.S.
Tesla stock closed down 2.3% at $238.25 on Friday. The stock is down about 4% year-to-date, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>. 
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="650" height="450" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20223551/newplot-3-3.jpeg" alt="" class="wp-image-559413" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20223551/newplot-3-3.jpeg 650w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20223551/newplot-3-3-300x208.jpeg 300w" sizes="(max-width: 650px) 100vw, 650px" /><figcaption class="wp-element-caption">Tesla Stock Trajectory Year-To-Date</figcaption></figure>
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:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40952233/gms-cruise-eyes-resuming-robotaxi-operations-in-california-after-long-pause-due-to-pedestrian-accide">GM&#8217;s Cruise Eyes Resuming Robotaxi Operations In California After Long Pause Due To Pedestrian Accident In 2023</a></li>
</ul>
Image via Shutterstock

Analyst Color

TSLA

Tesla's Stock Performance In 2019 And 2024 Shows 'Striking' Similarities, Says Gary Black: Flags This Reason That May Lead To Price Surge In 2025

The Republican party is in a frenzy to control the damage caused by the latest scandal involving North Carolina gubernatorial candidate&nbsp;Mark Robinson. They fear it could ripple beyond the state and impact Donald Trump&#8217;s 2024 <a href="https://www.benzinga.com/news/24/07/39852878/trump-says-he-is-accepting-presidential-nomination-with-faith-and-devotion-there-is-no-victory-in-wi">presidential campaign</a>.&nbsp;
What Happened: After CNN&#8217;s report on Thursday regarding Robinson&#8217;s inflammatory remarks about race, gender, and sexual preferences have left the Republicans scrambling for distance, <a href="https://thehill.com/homenews/campaign/4891581-north-carolina-gubernatorial-candidate-mark-robinson/">reported</a> The Hill.
Democrats, on the other hand, are highlighting Robinson&#8217;s connections&nbsp;to other candidates, including former&nbsp;President Trump, who has previously praised&nbsp;the North Carolina lieutenant governor.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Trump: I think Mark Robinson is one of the hottest politicians in the United States. He is a friend of mine. Thank you, Mark <a href="https://t.co/mkBsqfZEVT">pic.twitter.com/mkBsqfZEVT</a>
&mdash; Kamala HQ (@KamalaHQ) <a href="https://twitter.com/KamalaHQ/status/1836873971867763117?ref_src=twsrc%5Etfw">September 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40913930/kamala-harris-moves-from-13-point-deficit-to-7-point-lead-over-trump-in-survey-of-fund-managers-stra?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kamala Harris Moves From 13-Point Deficit To 7-Point Lead Over Trump In Survey Of Fund Managers, Strategists And Economists: Here&#8217;s Why Most Favor A Divided Government</a>
&#8220;This is a unique situation where you're not just seeing somebody who's putting the down-ballot races in jeopardy, but I think it's going to have an up-ballot effect as well,&#8221; said a Republican consultant active in North Carolina, noting that it could &#8220;really hurt&#8221; Trump&#8217;s chances of winning the state.
As per the CNN report, Robinson commented on a pornography website&#8217;s message board, self-identified as a &#8220;Black Nazi,&#8221; expressed a desire for the return of slavery, and stated a preference for Adolf Hitler over former President Barack Obama.
Robinson&#8217;s candidacy was already under scrutiny before the latest revelations. Democratic candidate Josh Stein had been leading Robinson by a significant margin in many surveys.
Despite calls for Robinson to withdraw from the race, he has vowed to stay and deemed the report fake, accusing&nbsp;the Stein campaign of leaking&nbsp;the story.
The state party issued a&nbsp;statement&nbsp;backing Robinson, accusing Democrats of&nbsp;trying to &#8220;demonize&#8221; him. However,&nbsp;other Republicans have criticized the&nbsp;comments and expressed concerns about their potential impact on the GOP&#8217;s chances in the state.
<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">It was a tough day, but we must stay focused on the races we can win. We have to make sure President Trump wins NC and support the outstanding GOP candidates running for key NCGA and judicial races. If Harris takes NC, she takes the White House. We can't let that happen. <a href="https://twitter.com/hashtag/ncpol?src=hash&amp;ref_src=twsrc%5Etfw">#ncpol</a>
&mdash; Thom Tillis (@ThomTillis) <a href="https://twitter.com/ThomTillis/status/1836947026543517998?ref_src=twsrc%5Etfw">September 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Robinson&#8217;s scandal could have a significant impact on the presidential&nbsp;race and other contests in&nbsp;North Carolina.
The Trump campaign has not directly addressed the allegations against Robinson&nbsp;but highlighted the importance of&nbsp;North Carolina to Trump&#8217;s path to victory, the report noted.
The state is a <a href="https://www.benzinga.com/general/politics/24/09/40949853/harris-in-trouble-new-swing-state-poll-shows-trump-gains-ground-in-key-battleground-areas-for-20">key battleground in the upcoming</a> 2024 presidential election. Earlier this week, a new poll of swing state voters showed that the Democratic nominee has gained one point over the former President in North Carolina.
Democrats, meanwhile, are feeling increasingly optimistic&nbsp;about their chances in the&nbsp;state. They believe that&nbsp;Stein should get a boost&nbsp;from the scandal, which could also benefit other Democrats.
This optimism appears to get some backing from data scientist Thomas Miller&#8217;s prediction, that the 2024 presidential election could see a <a href="https://www.benzinga.com/news/24/09/40950674/data-scientist-who-called-2020-election-correctly-says-its-gone-from-drastic-landslide-in-trumps-dir">drastic landslide in favor</a> of Vice President Harris.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/09/40917216/elon-musk-says-warren-buffett-is-positioning-for-kamala-harris-win-with-his-277b-cash-pile-as-pr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Warren Buffett Is Positioning For Kamala Harris Win With His $277B Cash Pile As Pro-Trumper John Paulson Warns Of Equity Market Exit</a></li>
</ul>
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.
Image via Flickr

Politics

Republicans In Damage Control Mode After Mark Robinson's Remarks Spark Concern For Trump Campaign: 'Going To Have An Up-Ballot Effect,' Says GOP Consultant

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