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Zeuus Inc is a data-centric company with business activities focused on three main areas ZEUUS Data Centers, ZEUUS Energy, and ZEUUS Cyber Security.

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<ul>
<li>Results of the Phase I clinical trial, presented at the bi-annual Contrast Media Research symposium in Oslo, Norway, conclude that this novel macrocyclic manganese-based contrast agent was well tolerated with no serious adverse events, dose-limiting toxicities or clinically relevant findings reported.</li>
<li>If approved, this agent could provide an alternative to gadolinium-based contrast agents and address the potential impact of post-patient excreted gadolinium in the environment.</li>
<li>The clinical trial program demonstrates GE HealthCare&#39;s commitment to innovation in contrast media and to building a portfolio of MRI imaging agents to address radiologists&#39; needs for their patients</li>
</ul>

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GE HealthCare Reveals Phase I Results For Macrocyclic Manganese-Based MRI Contrast Agent

Brazil&#8217;s Supreme Court has announced a delay in allowing X, owned by Elon Musk, to resume operations in the <a href="https://www.benzinga.com/news/24/09/41062162/elon-musks-x-reportedly-aims-for-brazil-reentry-backs-down-from-censorship-dispute">country due to a payment error</a>. 
What Happened: The social media platform mistakenly paid $5 million in fines to the wrong bank, hindering its efforts to lift a suspension imposed in late August, Reuters reported.
The Supreme Court suspended X for failing to comply with orders related to moderating hate speech and lacking a legal representative in Brazil. Although X&#8217;s legal team asserts that the fines were paid correctly, the court requires the funds to be transferred to the correct bank before considering the platform&#8217;s request to resume services.
Supreme Court Justice Alexandre de Moraes has instructed that the payment be redirected appropriately. Following this, the prosecutor general will assess X&#8217;s request to lift the ban. Despite the payment issue, X&#8217;s legal representatives have reiterated their plea to end the suspension, arguing against further consultation with the prosecutor general.
See Also: <a href="https://www.benzinga.com/news/24/10/41173594/incestuous-milei-donald-trumps-digital-slip-with-javier-milei-parody-accounts-goes-viral-on-x?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Incestuous Milei&#8217;: Donald Trump&#8217;s Digital Slip With Javier Milei Parody Accounts Goes Viral On X</a>
In recent weeks, X has adhered to court mandates, including blocking specific accounts under investigation. On Sep. 26, the company sought to resume operations, but Moraes ruled that the outstanding fines must be settled first. On Friday, X&#8217;s lawyers confirmed the payment of 28.6 million reais ($5.24 million) in fines.
Why It Matters: The suspension of X in Brazil follows a series of challenges faced by the platform. Recently, X released its first <a href="https://www.benzinga.com/news/24/09/41042433/elon-musks-x-suspends-5-3m-accounts-flags-10-6m-posts-in-first-transparency-report-amid-user-and-adv">transparency report</a> under Musk&#8217;s ownership, revealing the suspension of 5.3 million accounts and the removal or labeling of over 10.6 million posts for rule violations.
Additionally, X has been striving to re-establish its presence in Brazil after a ban in late August due to a <a href="https://www.benzinga.com/news/24/09/41062162/elon-musks-x-reportedly-aims-for-brazil-reentry-backs-down-from-censorship-dispute">censorship dispute</a> with a local judge.
Read Next: 
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<li><a href="https://www.benzinga.com/general/restaurants/24/10/41198120/elon-musk-vs-mcdonalds-tesla-fans-wanted-collaboration-instead-they-get-new-product-launch-co?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Vs. McDonald&#8217;s: Tesla Fans Wanted Collaboration, Instead They Get New Product Launch Competing With Robotaxi Day</a></li>
</ul>
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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>

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Tech

Elon Musk's X Paid $5M To Wrong Bank In Brazil, Delaying Reinstatement Of Its Services In The Country

Amazon.com, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) cloud computing platform, Amazon Web Services CEO Matt Garman disclosed that the company had been delving into generative AI long&nbsp;before it became a widely&nbsp;accepted concept.
What Happened: During an <a href="https://techcrunch.com/2024/10/06/aws-ceo-matt-garman-on-generative-ai-open-source-and-closing-services/">interview</a> with TechCrunch that was published on Saturday, Garman discussed AWS&#8217;s approach to generative AI.
He recognized that the introduction of OpenAI&#8217;s ChatGPT ignited new interest in the field, but maintained that AWS had been investigating generative AI even before it became a popular term.
&#8220;We'd been looking at generative AI before it became a widely accepted thing, but I will say that when ChatGPT came out, there was kind of a discovery of a new area, of ways that this technology could be applied,&#8221; he said.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/10/41181916/mark-cuban-offers-to-help-elon-musk-boost-x-revenue-says-tesla-ceo-is-concerned-about-declining-user?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Offers To Help Elon Musk Boost X Revenue, Says Tesla CEO Is Concerned About Declining Users: &#8216;I Wish He Would Call Me&#8217;</a>
Garman also responded to criticisms that AWS was slow to introduce its own generative AI tools, thereby giving&nbsp;competitors like Google Cloud and&nbsp;Microsoft Azure an edge.
He contended that this was more of a perception than reality, as AWS had already launched&nbsp;successful machine learning services like&nbsp;SageMaker.
He went on to add that AWS adopted a more thoughtful approach to generative AI, concentrating on how its customers could best incorporate&nbsp;this technology into their applications.
This led to the creation of Bedrock, AWS&#8217;s platform that provides access to a range&nbsp;of open and proprietary models.
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.
Why It Matters: Garman started his journey at Amazon as an intern and later <a href="https://www.benzinga.com/news/24/05/38824439/amazon-web-services-undergoes-leadership-change-matt-garman-to-take-over-as-ceo">took over AWS following</a> Adam Selipsky&#8217;s exit. He has been a part of the e-commerce giant since 2005.
Meanwhile, analysts have also recognized Amazon&#8217;s strong position in both e-commerce and cloud.
Last month, an analyst from Cantor Fitzgerald initiated coverage of Amazon with an Overweight rating, citing the company&#8217;s <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40734889/amazon-analyst-says-companys-dominant-competitive-position-in-e-commerce-aws-provid">dominant competitive position</a> and the potential of AI in powering the AWS cloud business line.
In August, Amazon CEO Andy Jassy highlighted the company&#8217;s commitment to <a href="https://www.benzinga.com/markets/equities/24/08/40124749/amazon-ceo-andy-jassy-highlights-multi-faceted-ai-strategy-with-aws-innovation-emphasizes-partne">providing a variety of AI solutions</a> through AWS. &#8220;There is not one tool to rule the world,&#8221; he said at the time.
AWS&#8217;s AI capabilities have also been leveraged by other entities. Previously, it was reported that <a href="https://www.benzinga.com/news/24/08/40523419/chinese-firms-are-reportedly-accessing-high-end-nvidia-ai-chips-using-aws-and-microsoft-cloud-servic">Chinese firms were using</a> AWS to access high-end Nvidia AI chips, bypassing US restrictions.
Photo by Sundry Photography via Shutterstock
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>.
Read Next:
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<li><a href="https://www.benzinga.com/markets/asia/24/10/41191924/chinese-ev-stocks-li-auto-byd-nio-to-benefit-from-rebound-analyst?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Chinese EV Stocks Li Auto, BYD, Nio To Benefit From Rebound: Analyst</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.

Media

AMZN

AWS CEO Matt Garman, Once An Intern, Says They Were Pioneering Generative AI At Amazon Long Before ChatGPT Sparked A Wave Of Excitement: 'It Became A Widely Accepted Thing'

MaxLinear Unveils MaxAI, Boosting Wi-Fi Performance And Reducing Costs For MSOs With AI/ML Framework

Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Palantir Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) are among the artificial intelligence stocks that have seen strong gains since early to mid-September. While the <a href="https://www.benzinga.com/markets/equities/24/10/41179608/mark-zuckerberg-bulldozes-past-jeff-bezos-to-become-worlds-2nd-richest-person-as-meta-stock-soar">former is perched at a record high, </a>the latter, despite its recent strong run, is yet to reclaim its Jan. 2021 peak. 
Here&#8217;s a look at the relative performance of these two stocks and what the near-term holds for them:
Meta Vs. Palantir: Meta has gained over 68% for the year-to-date period, while Palantir is up a steeper 133%. The data analytics company co-founded by Peter Thiel is the fourth best-performing S&amp;P 500 company this year, while Meta, co-founded by Mark Zuckerberg, holds the 11th spot on the list.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="446" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07021223/image-22-1024x446.png" alt="" class="wp-image-582620" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07021223/image-22-1024x446.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07021223/image-22-300x131.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07021223/image-22-768x335.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07021223/image-22-1536x669.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07021223/image-22.png 1912w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Source: Benzinga Pro
As is seen in the chart, both stocks have outperformed the broader market, as represented by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) &#8211; an exchange-traded fund that tracks the S&amp;P 500 Index.
Valuations of both stocks have become expensive following the recent spike. The forward price-earnings ratio for Palantir is currently at a hefty 95.2 but Meta is trading at a more modest forward P/E valuation of 24.75. The social media giant&#8217;s P/E ratio is fairly in line with 21.3 which is applicable to the communications services sector.
See Also: <a href="https://www.benzinga.com/money/best-artificial-intelligence-stocks">Best Artificial Intelligence Stocks</a>
The Palantir Rally: Palantir has been on an uptrend since it gap-opened higher on Sept. 9, the first session after the S&amp;P Dow Jones Indices said the company would be added to the S&amp;P 500 Index, effective prior to the start of trading on Sept. 23. Commenting on the feat, Wedbush analyst Daniel Ives said, &#8220;The profitability profile of this story has significantly been bolstered with this <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40766713/palantirs-s-p-500-inclusion-another-validation-moment-as-it-embarks-on-new-era-of-e">another validation moment for the Palantir story.&#8221;</a>
Although there was a &#8216;buy the rumor, sell the news&#8217; moment after the inclusion, the stock has been grinding solidly higher since the start of October.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="440" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07022131/image-23-1024x440.png" alt="" class="wp-image-582632" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07022131/image-23-1024x440.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07022131/image-23-300x129.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07022131/image-23-768x330.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07022131/image-23-1536x660.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07022131/image-23.png 1911w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Source: Y Charts
Meta Connects With Investors: After the early August broader market swoon set in motion by yen carry-trade unwinding, Meta&#8217;s stock found its feet shortly after and climbed higher until mid-August. The stock experienced a mild pullback that lasted through mid-September.
The two-day Meta Connect conference held on Sept. 25-26 saw the company announcing a slew of products and other offerings. These include AI-driven chatbots, an updated Llama large-language model, the latest Ray-Ban smart glasses with improved camera functionality, voice controls, and deeper integration with AI, Meta Quest 4, the next-generation virtual reality headset, and the Orion augmented reality glasses.
The stock has been on a steady climb since then.
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="436" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07023813/image-24-1024x436.png" alt="" class="wp-image-582653" style="width:921px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07023813/image-24-1024x436.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07023813/image-24-300x128.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07023813/image-24-768x327.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07023813/image-24-1536x654.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07023813/image-24.png 1907w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Source: Benzinga Pro
Further Upside? The average analysts&#8217; price targets, compiled by TipRanks, suggest modest upside potential for Meta but downside for Palantir.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td></td>
<td>Current Price</td>
<td>1-Year Average Analysts&#8217; Price Target</td>
<td>Upside/Downside Potential</td>
</tr>
<tr>
<td>Meta</td>
<td>$595.94</td>
<td>$608.20</td>
<td>+2.06%</td>
</tr>
<tr>
<td>Palantir</td>
<td>$40.01</td>
<td>$27.67</td>
<td>(-30.84%)</td>
</tr>
</tbody>
</table>
</figure>
The next big catalyst for Meta is likely to be the company&#8217;s third-quarter results due on Oct. 30, with the consensus modeling over 30% earnings per share growth and nearly 20% revenue growth. Meta&#8217;s fortunes to a large extent is tied to ad spending, which in turn hinges on macroeconomic conditions. With the Fed showing a proclivity to take rates down in the coming months, credit conditions could ease, potentially benefiting Meta.
Palantir is a favorite among retail investors. Continuing deal flow, and strong third-quarter results and positive fourth-quarter guidance could keep the upward momentum intact.
More importantly, the market has entered a seasonally strong quarter when a confluence of factors typically lifts the market. The stretched valuations, therefore, may not preclude further gains. That said, <a href="https://www.benzinga.com/markets/asia/24/10/41192510/labor-market-surprises-with-strength-energy-stocks-rally-on-israel-iran-tensions-chinese-tech-giants">investors may remain wary of geopolitical and macroeconomic headwinds, </a>with two wars ongoing and a hard-landing scenario still not off the table.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/10/41200138/schwab-trading-activity-falls-in-september-despite-market-strength-nvidia-palantir-among-most-so">Schwab Trading Activity Falls In September Despite Market Strength: Nvidia, Palantir Among Most Sought-After Stocks But These 5 Fell Out Of Favor</a></li>
</ul>
Image Via Shutterstock

Equities

Markets

PLTR

Meta Stock Returns Pale Next To Peter Thiel's Secretive Data Company Even As Mark Zuckerberg Company's AI Advancements Generate Excitement

Integrated Gas 
&nbsp;
<table>
<tbody>
<tr>
<td>$ billions</td>
<td>Q3&#39;24&nbsp;Outlook</td>
<td>Comment</td>
</tr>
<tr>
<td colspan="3">Adjusted EBITDA:</td>
</tr>
<tr>
<td>Production (kboe/d)</td>
<td>920 - 960</td>
</tr>
<tr>
<td>LNG liquefaction volumes (MT)</td>
<td>7.3 - 7.7</td>
</tr>
<tr>
<td>Underlying opex</td>
<td>1.1 - 1.3</td>
</tr>
<tr>
<td colspan="3">Adjusted Earnings:</td>
</tr>
<tr>
<td>Pre-tax depreciation</td>
<td>1.2 - 1.6</td>
</tr>
<tr>
<td>Taxation charge</td>
<td>0.8 - 1.1</td>
</tr>
<tr>
<td colspan="3">Other Considerations:</td>
</tr>
<tr>
<td colspan="3">Trading &amp; Optimisation results are expected to be in line with&nbsp;Q2&#39;24.</td>
</tr>
</tbody>
</table>
Upstream 
&nbsp;
<table>
<tbody>
<tr>
<td>$ billions</td>
<td>Q3&#39;24&nbsp;Outlook</td>
<td>Comment</td>
</tr>
<tr>
<td colspan="3">Adjusted EBITDA:</td>
</tr>
<tr>
<td>Production (kboe/d)</td>
<td>1,740 - 1,840</td>
</tr>
<tr>
<td>Underlying opex</td>
<td>1.9 - 2.5</td>
</tr>
<tr>
<td colspan="3">Adjusted Earnings:</td>
</tr>
<tr>
<td>Pre-tax depreciation</td>
<td>2.3 - 2.9</td>
</tr>
<tr>
<td>Taxation charge</td>
<td>2.0 - 2.8</td>
</tr>
<tr>
<td colspan="3">Other Considerations:</td>
</tr>
<tr>
<td colspan="3">The share of profit / (loss) of joint ventures and associates in&nbsp;Q3&#39;24 is expected to be ~$0.1 billion.&nbsp;Q3&#39;24 exploration well write-offs are expected to be ~$0.1 billion.</td>
</tr>
</tbody>
</table>
Marketing 
&nbsp;
<table>
<tbody>
<tr>
<td>$ billions</td>
<td>Q3&#39;24&nbsp;Outlook</td>
<td>Comment</td>
</tr>
<tr>
<td colspan="3">Adjusted EBITDA:</td>
</tr>
<tr>
<td>Sales volumes (kb/d)</td>
<td>2,750 - 3,150</td>
</tr>
<tr>
<td>Underlying opex</td>
<td>2.5 - 2.9</td>
</tr>
<tr>
<td colspan="3">Adjusted Earnings:</td>
</tr>
<tr>
<td>Pre-tax depreciation</td>
<td>0.4 - 0.8</td>
</tr>
<tr>
<td>Taxation charge</td>
<td>0.2 - 0.5</td>
</tr>
<tr>
<td colspan="3">Other Considerations:</td>
</tr>
<tr>
<td colspan="3">Marketing results are expected to be in line with&nbsp;Q2&#39;24.</td>
</tr>
</tbody>
</table>
Chemicals and Products 
&nbsp;
<table>
<tbody>
<tr>
<td>$ billions</td>
<td>Q3&#39;24&nbsp;Outlook</td>
<td>Comment</td>
</tr>
<tr>
<td colspan="3">Adjusted EBITDA:</td>
</tr>
<tr>
<td>Indicative refining margin</td>
<td>$5.5/bbl</td>
</tr>
<tr>
<td>Indicative chemicals margin</td>
<td>$164/tonne</td>
<td>The Chemicals sub-segment adjusted earnings are expected to reflect a marginal loss in&nbsp;Q3&#39;24.</td>
</tr>
<tr>
<td>Refinery utilisation</td>
<td>79%&nbsp;-&nbsp;83%</td>
</tr>
<tr>
<td>Chemicals utilisation</td>
<td>73%&nbsp;-&nbsp;77%</td>
</tr>
<tr>
<td>Underlying opex</td>
<td>2.1 - 2.5</td>
</tr>
<tr>
<td colspan="3">Adjusted Earnings:</td>
</tr>
<tr>
<td>Pre-tax depreciation</td>
<td>0.8 - 1.0</td>
</tr>
<tr>
<td>Taxation charge / (credit)</td>
<td>(0.3) - 0.1</td>
</tr>
<tr>
<td colspan="3">Other Considerations:</td>
</tr>
<tr>
<td colspan="3">Trading &amp; Optimisation is expected to be lower than&nbsp;Q2&#39;24.</td>
</tr>
</tbody>
</table>
Renewables and Energy Solutions 
&nbsp;
<table>
<tbody>
<tr>
<td>$ billions</td>
<td>Q3&#39;24&nbsp;Outlook</td>
<td>Comment</td>
</tr>
<tr>
<td>Adjusted Earnings</td>
<td>(0.4) - 0.2</td>
</tr>
</tbody>
</table>
Corporate 
&nbsp;
<table>
<tbody>
<tr>
<td>$ billions</td>
<td>Q3&#39;24&nbsp;Outlook</td>
<td>Comment</td>
</tr>
<tr>
<td>Adjusted Earnings</td>
<td>(0.7) - (0.5)</td>
</tr>
</tbody>
</table>
Shell Group 
&nbsp;
<table>
<tbody>
<tr>
<td>$ billions</td>
<td>Q3&#39;24&nbsp;Outlook</td>
<td>Comment</td>
</tr>
<tr>
<td colspan="3">CFFO:</td>
</tr>
<tr>
<td>Tax paid</td>
<td>2.5 - 3.3</td>
</tr>
<tr>
<td>Derivative movements</td>
<td>(2) - 2</td>
<td rowspan="2">Derivative movements and working capital estimations inherently have a broad range of uncertainty.</td>
</tr>
<tr>
<td>Working capital</td>
<td>0 - 4</td>
</tr>
<tr>
<td colspan="3">Other Shell Group Considerations:</td>
</tr>
<tr>
<td colspan="3">-&nbsp;</td>
</tr>
</tbody>
</table>
Guidance 
&nbsp;
The &lsquo;Quarterly Databook&#39; contains&nbsp;guidance&nbsp;on Indicative Refining Margin, Indicative Chemicals Margin and full-year price and margin sensitivities (<a href="https://www.globenewswire.com/Tracker?data=dBiulSOwdnv6ontRXgwKG5_fm7_6-2x3FDn7cI1X0eg7-kfSD96TGXy5hXSyUfPEMCC-1G7WZAqaUZ2nVXEybqrZaZQazKoPcsqH_jQwGGCWtfJCSd-8SLMfSsB6b4G6ZlbKHp4nvHnJtCbHNrPLDRLUAeMBlYYjzHAHebJmmq9JGqiemcviugiTOefy9s1vIDtOsqSUpkYZT7feYcPOChSTkHiSDAq0ZxgrADeG6iiDcJUlwaQhn0l0hREUwogpFJ7ZTNvDW1orWMoImP5ndFxOQgAYbbn1wOL83z9K0IlClUSrQMX2VdOmR_usg4mc" target="_blank">Link</a>).
Consensus 
&nbsp;
The consensus collection for quarterly Adjusted Earnings, Adjusted EBITDA is per the reporting segments and CFFO at a Shell group level, managed by Vara Research, is expected to be published on October 23, 2024.

Guidance

SHEL

Shell Projects Q3 2024 LNG Volumes Between 7.3 And 7.7 MT, Highlights Mixed Performance Across Segments

Strategic Acquisition will Enhance Capabilities in Capital Markets, Banking Operations and Asset Servicing, Strengthening Client Offerings Globally

EPAM

EPAM Systems Acquires First Derivative In Strategic Move, Expanding Financial Services Capabilities Globally

Byrna Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BYRN#NASDAQ">BYRN</a>) will release earnings results for its third quarter, before the <a href="https://www.benzinga.com/quote/BYRN/earnings">opening bell on Wednesday, Oct. 9.</a>
Analysts expect the Andover, Massachusetts-based company to report quarterly earnings at 5 cents per share, versus a year-ago loss of 12 cents per share. Byrna Technologies projects to report revenue of $20.8 million for the quarter, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Sept. 4, Byrna Technologies announced preliminary third-quarter financial results with revenue above estimates.
Byrna Technologies shares gained 9.4% to close at $18.95 on Friday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/byrn/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5888c53c77f9dd0001877a30/matt-koranda">Roth MKM analyst Matt Koranda</a> initiated coverage on the stock with a Buy rating and a price target of $14 on Aug. 28. This analyst has an accuracy rate of 65%.</li>
<li>Ladenburg Thalmann analyst Jon Hickman maintained a Buy rating and raised the price target from $12.75 to $16.25 on April 9. This analyst has an accuracy rate of 64%.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/585beadbb5a482000151d184/jeff-van%20sinderen">B. Riley Securities analyst Jeff Van Sinderen</a> reiterated a Buy rating and raised the price target from $14 to $17 on April 8. This analyst has an accuracy rate of 75%.</li>
<li>Raymond James analyst Brian Gesuale downgraded the stock from Strong Buy to Market Perform on Sept. 27. This analyst has an accuracy rate of 73%.</li>
</ul>
Considering buying BYRN stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="520" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07030850/image-25-1024x520.png" alt="" class="wp-image-582704" style="width:612px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07030850/image-25-1024x520.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07030850/image-25-300x152.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07030850/image-25-768x390.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07030850/image-25.png 1320w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read This Next: 
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<li><a href="https://www.benzinga.com/markets/24/10/41196046/wall-streets-most-accurate-analysts-give-their-take-on-3-energy-stocks-delivering-high-dividend-yiel">Wall Street&#8217;s Most Accurate Analysts Give Their Take On 3 Energy Stocks Delivering High-Dividend Yields</a></li>
</ul>

Earnings

Analyst Ratings

Trading Ideas

BYRN

Top Wall Street Forecasters Revamp Byrna Technologies Price Expectations Ahead Of Q3 Earnings

Revenues for September 2024
<table cellspacing="0">
<tbody>
<tr>
<td colspan="1" rowspan="1">
Period
</td>
<td colspan="1" rowspan="1">
2024
</td>
<td colspan="1" rowspan="1">
2023
</td>
<td colspan="1" rowspan="1">
Y/Y Change
</td>
<td colspan="1" rowspan="1">
Y/Y (%)
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
September
</td>
<td colspan="1" rowspan="1">
18,942,714
</td>
<td colspan="1" rowspan="1">
19,052,938
</td>
<td colspan="1" rowspan="1">
-110,224
</td>
<td colspan="1" rowspan="1">
-0.58%
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Jan.-Sep.
</td>
<td colspan="1" rowspan="1">
171,916,474
</td>
<td colspan="1" rowspan="1">
167,574,722
</td>
<td colspan="1" rowspan="1">
4,341,752
</td>
<td colspan="1" rowspan="1">
2.59%
</td>
</tr>
</tbody>
</table>

United Microelectronics Reported Net Sales Decline Of 0.58% YoY In September 2024

<ul>
<li>Richemont will sell YNAP to Mytheresa with a cash position of &euro;555m and no financial debt, subject to customary closing adjustments</li>
<li>Mytheresa to issue shares to Richemont representing&nbsp;33%&nbsp;of Mytheresa&#39;s fully diluted share capital</li>
<li>Richemont to provide a &euro;100m revolving credit facility to YNAP</li>
<li>Closing of transaction expected in H1 2025, subject to customary conditions, including regulatory approvals</li>
<li>Transaction creates multi-brand digital group of significant scale, global reach as well as exceptional customer centricity</li>
</ul>

MYTE

Mytheresa To Acquire YOOX NET-A-PORTER From Richemont In €555M Cash Deal, Issuing 33% Equity Stake To Form Global Multi-Brand Luxury Group

GOLD

Reported Saturday, Barrick Gold's Twiga Partnership Boosts Tanzanian Revenue And Expands Education And Safety Initiatives

With U.S. stock futures trading lower this morning on Monday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects The Duckhorn Portfolio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAPA#NASDAQ">NAPA</a>) to report quarterly earnings at 10 cents per share on revenue of $106.55 million after the closing bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Duckhorn Portfolio shares rose 1.3% to $5.47 in after-hours trading.</li>
<li>Vista Outdoor Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSTO#NYSE">VSTO</a>) entered into a definitive agreement with funds managed by Strategic Value Partners, LLC, and its affiliates to sell Revelyst in an all-cash deal with an enterprise value of $1.125 billion. Vista Outdoor shares fell 0.9% to $39.50 in the after-hours trading session.</li>
<li>ZenaTech, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZENA#NASDAQ">ZENA</a>) disclosed new management team appointments, naming Craig Passley as Company Secretary and promoting Sajjad Asif to Chief Technology Officer. The company also appointed Linda Montgomery as Vice President of Corporate Development. ZenaTech shares gained 2.8% to $4.02 in the after-hours trading session.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Aviat Networks, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVNW#NASDAQ">AVNW</a>) posted better-than-expected results for its fourth quarter on Friday. The company reported quarterly earnings of 72 cents per share which beat the analyst consensus estimate of 69 cents per share. The company reported quarterly sales of $116.66 million which beat the analyst consensus estimate of $112.92 million. Aviat Networks shares gained 8.5% to $21.00 in the after-hours trading session.</li>
<li>EPAM Systems, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EPAM#NYSE">EPAM</a>) announced plans to acquire First Derivative. EPAM Systems shares slipped 0.2% to $198.05 in after-hours trading.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/10/41196046/wall-streets-most-accurate-analysts-give-their-take-on-3-energy-stocks-delivering-high-dividend-yiel">Wall Street&#8217;s Most Accurate Analysts Give Their Take On 3 Energy Stocks Delivering High-Dividend Yields</a></li>
</ul>
Photo courtesy: Shutterstock

Pre-Market Outlook

AVNW

NAPA

VSTO

ZENA

Aviat Networks, Duckhorn Portfolio And 3 Stocks To Watch Heading Into Monday

David Kelly, the chief global strategist at JPMorgan Asset Management, has issued a warning to investors, urging them to exercise caution and reduce risk in the <a href="https://www.benzinga.com/general/education/24/10/41191050/s-p-500-to-end-year-over-6-000-34-of-benzinga-readers-predict-raging-bull-run">current market environment</a>.
What Happened: Kelly expressed his concerns about the market&#8217;s current state, despite the recent surge in stock indexes driven by robust economic data and a significant rate cut from the Federal Reserve, <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-september-jobs-report-growth-value-david-kelly-2024-10">reported</a> Business Insider. He emphasized that the potential for a soft landing could lead to increased risk for investors.
&#8220;I will say that although I think this is positive for the equity market, I am getting increasingly queasy about the fact that the equity market keeps on pricing in a soft landing,&#8221; Kelly said.
He cautioned that as the market continues to anticipate a soft landing, valuations rise, making asset prices more vulnerable to market shocks. Kelly suggested that investors should reduce risk and shift their funds from growth stocks to value stocks.
He also noted that the average American&#8217;s wealth has surged, which may prompt some investors to take on more risk than necessary. Kelly advised against this, suggesting that investors should only take on the risk required to achieve their financial goals.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41163698/grammy-nominated-rapper-logic-invested-6m-in-bitcoin-nearly-4-years-ago-this-is-how-much-h?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Grammy-Nominated Rapper Logic Invested $6M In Bitcoin Nearly 4 Years Ago: This Is How Much His Stash Would Be Worth Today</a>
Why It Matters: The warning from Kelly comes at a time when the market is experiencing significant highs. The S&amp;P 500 Index, tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), has been hitting <a href="https://www.benzinga.com/general/education/24/10/41191050/s-p-500-to-end-year-over-6-000-34-of-benzinga-readers-predict-raging-bull-run">all-time highs</a>, sparking optimism among investors.
However, the market is facing a complex economic landscape, with various factors such as labor disputes and natural disasters complicating the <a href="https://www.benzinga.com/news/24/10/41178818/sahms-rule-inventor-warns-of-messy-economic-data-as-fed-treads-easing-cycle-amid-labor-disputes-and">interpretation of economic data</a>. Renowned economist Claudia Sahm has highlighted the potential impact of labor market data, adding to the uncertainty.
Despite these challenges, Bank of America has identified crucial dates for the stock market leading up to the November Presidential election. The bank used options prices to predict potential movements in the S&amp;P 500 index. The most significant date is Nov. 6, <a href="https://www.benzinga.com/markets/equities/24/09/40995794/key-stock-market-dates-predicting-major-swings-revealed-ahead-of-2024-election-according-to-bank">the day after the election</a>, with an estimated 2.5% move in either direction.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/10/41185026/whats-going-on-with-cisco-systems-stock-friday?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With Cisco Systems Stock Friday?</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>

JPMorgan Chief Global Strategist Warns Investors On Risk In Current Environment: Increasingly Queasy That Market Keeps Pricing In A Soft Landing

Bettors at Polymarket are eyeing a strong possibility of Len Sassaman getting identified as Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) creator Satoshi Nakamoto in the keenly awaited HBO documentary.&nbsp;
What happened: Gambles favoring Sassaman were at 39% as of this writing on the cryptocurrency-based prediction market, the highest in the list that included names of famous people believed to be pseudonymous creators at different times in the past.
A cypherpunk and developer of the PGP encryption and privacy technology, Sassaman's name has been frequently thrown around in the mystery saga. His death in July 2011 was preceded by Nakamoto&#8217;s final communication to Bitcoin developers, an eerie coincidence that strengthened the theory.
Next on the list was Blockstream CEO Adam Back, with more than 11% odds in favor. Back was supposedly <a href="https://www.benzinga.com/money/who-is-satoshi-nakamoto">one of the first two people to receive an</a> email from Satoshi before Bitcoin's whitepaper was formally published.
Late American software developer Hal Finney, who was the recipient of the first Bitcoin transaction from Satoshi, had 3% of the total bets in favor.&nbsp;
About $4.5 million have been wagered on the outcome of the event as of this writing.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41199931/shiba-inus-shytoshi-kusama-calls-this-nation-crypto-capital-after-it-makes-digital-asset-t">Shiba Inu&#8217;s Shytoshi Kusama Calls This Nation &#8216;Crypto Capital&#8217; After It Makes Digital Asset Transactions Tax Free</a>
Why It Matters: The documentary titled ‘Money Electric: The Bitcoin Mystery," <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41179372/satoshi-nakamoto-about-to-be-unveiled-bitcoin-creators-identity-focal-point-of-upcoming-hb">claiming to unravel the "internet's biggest mystery</a>," is slated to premiere on Tuesday.&nbsp;
A 2:30-minute trailer dropped last week piqued the interest, not just of cryptocurrency enthusiasts but also of other followers who wanted to discover the true identity of the cult figure.&nbsp;
Nakamoto purportedly holds around <a href="https://www.arkhamintelligence.com/research/who-owns-the-most-bitcoin-2023-edition">1.1 million</a> Bitcoin, according to on-chain analytics platform Arkham Intelligence, making him one of the richest people in the world.
Price Action: At the time of writing, Bitcoin was exchanging hands at $63,630.34, up 2.76% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 
Image Courtesy: Wikimedia Commons
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41195876/michael-saylor-once-said-bitcoins-days-are-numbered-now-he-holds-more-than-a-billion-worth">Michael Saylor Once Said &#8216;Bitcoin&#8217;s Days Are Numbered.&#8217; Now He Holds More Than A Billion Worth Of King Crypto: Here&#8217;s What Changed For One Of Crypto&#8217;s Biggest Advocates</a></li>
</ul>

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

Cryptocurrency

$BTC

Len Sassaman Is Bitcoin Creator Satoshi Nakamoto In HBO Documentary? Polymarket Punters See High Probability

<ul>
<li>CSG Increases Purchase Price for The Kinetic Group to&nbsp;$2.225 Billion</li>
<li>SVP Transaction Contingent Upon Close of CSG Transaction 
	Vista Outdoor announced it has entered into a definitive agreement with funds managed by Strategic Value Partners, LLC, and its affiliates (&quot;SVP&quot;), a global alternative investment firm with approximately&nbsp;$19 billion&nbsp;of assets under management, to sell Revelyst in an all-cash transaction based on an enterprise value of&nbsp;$1.125 billion&nbsp;(the &quot;SVP Transaction&quot;). In connection with the SVP Transaction, Vista Outdoor also entered into an amendment to the merger agreement with Czechoslovak Group a.s. (&quot;CSG&quot;) to acquire The Kinetic Group, increasing the purchase price for the Kinetic Group to&nbsp;$2.225 billion&nbsp;(the &quot;CSG Transaction&quot;).</li>
</ul>

Reported Friday, Vista Outdoor Sells Revelyst For $1.125B In All-Cash Deal With SVP; Boosts Kinetic Group Purchase Price To $2.225B

Macro Economic Events

Econ #s

Economics

Germany Factory Orders (MoM) For August -5.8% Vs. -1.9% Est.; 3.9% (Revised) Prior

U.K. Halifax House Price Index (YoY) For September 4.7% Vs. 4.3% Prior

U.K. Halifax House Price Index (MoM) For September 0.3% Vs. 0.2% Est.; 0.3% Prior

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) opened 2,800 <a href="https://www.benzinga.com/topic/tesla-supercharger">superchargers</a> in the third quarter, marking a growth of 23% year-on-year, the EV giant said in a post on social media platform X last week.
What Happened: As of the end of the third quarter of 2023, Tesla had 51,105 supercharger connectors around the globe. Now, the company has over 62,000 supercharger connectors, implying that the network is growing.
<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">In Q3, we: → opened 2.8K Supercharger stalls, +23% year-over-year network growth → delivered 1.4 TWh, +27% year-over-year growth → saved 150+ million gallons of gasoline, offsetting 3+ billion lbs of CO2
&mdash; Tesla Charging (@TeslaCharging) <a href="https://twitter.com/TeslaCharging/status/1842074292512591910?ref_src=twsrc%5Etfw">October 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
However, the rate of growth of the supercharger network has seemingly slowed significantly since the company announced layoffs of at least 10% of its global workforce in April. The layoffs impacted&nbsp;<a href="https://www.benzinga.com/news/24/05/38846223/elon-musk-fired-supercharger-chief-rebecca-tinucci-and-her-entire-team-after-she-refused-to-lay-off" target="_blank" rel="noreferrer noopener">500 members of the supercharging team</a>&nbsp;and&nbsp;Rebecca Tinucci, Tesla's then Senior Director of Charging Infrastructure, left the company.
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="684" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07012924/9hkH6-tesla-supercharger-growth-trajectory-1-1024x684.png" alt="" class="wp-image-582577" style="width:572px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07012924/9hkH6-tesla-supercharger-growth-trajectory-1-1024x684.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07012924/9hkH6-tesla-supercharger-growth-trajectory-1-300x200.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07012924/9hkH6-tesla-supercharger-growth-trajectory-1-768x513.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07012924/9hkH6-tesla-supercharger-growth-trajectory-1.png 1240w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
The supercharger network grew only by about 4.7% quarter-on-quarter in the three months through the end of September. This is lower than the sequential growth rate of 7.4% achieved in the fourth quarter of 2023.
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="684" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07013248/sJjvf-q-o-q-supercharger-network-growth-rate-1024x684.png" alt="" class="wp-image-582578" style="width:576px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07013248/sJjvf-q-o-q-supercharger-network-growth-rate-1024x684.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07013248/sJjvf-q-o-q-supercharger-network-growth-rate-300x200.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07013248/sJjvf-q-o-q-supercharger-network-growth-rate-768x513.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/07013248/sJjvf-q-o-q-supercharger-network-growth-rate.png 1240w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Why It Matters: During Tesla's annual shareholder meeting in June, Tesla CEO&nbsp;Elon Musk&nbsp;slammed rumors on the&nbsp;<a href="https://www.benzinga.com/news/24/05/38757383/elon-musk-announces-500m-investment-in-teslas-supercharger-network-expansion-in-2024" target="_blank" rel="noreferrer noopener">death of its supercharger network&nbsp;</a>as "greatly exaggerated."
"Our supercharger network is continuing to grow," Musk said.
The company continues to grow its supercharger network while keeping an eye on capital efficiency and the places they are deployed, Musk said while adding that it will deploy more "working" superchargers this year than the rest of the industry combined.
Tesla will invest $500 million in expanding the network this year, Musk said,&nbsp;<a href="https://www.benzinga.com/news/24/05/38757383/elon-musk-announces-500m-investment-in-teslas-supercharger-network-expansion-in-2024" target="_blank" rel="noreferrer noopener">reiterating his investment goal from May</a>.
Last month, Musk said that Tesla is opening a "<a href="https://www.benzinga.com/news/24/09/40766744/elon-musk-says-tesla-will-open-a-lot-more-superchargers-asks-ev-enthusiasts-for-input-on-where-to-in">lot more superchargers</a>," without detailing whether this is in addition to the&nbsp;$500 million investment pledged&nbsp;to expand the network this year or included within.
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/news/24/10/41184066/stellantis-recalls-more-than-129k-ram-1500-trucks">Stellantis Recalls More Than 129K Ram 1500 Trucks</a></li>
</ul>
Photo courtesy: Shutterstock

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