ZhongAn Online P&C (OTC:ZZHGF) Stock, Quote.Headers.trade-ideas

Headquartered in Shanghai, ZhongAn was founded by Ant Financial, Tencent, Ping An Insurance, and other well-known enterprises in 2013. The company is the first internet-based insurance company in China. It provides online underwriting and claim services through the internet without any offline branches. ZhongAn was listed in September 2017 in Hong Kong. Besides the online insurance segment, the company operates technology and banking segments. Its insurance technology segment exports digital operating system, middle platforms, and industry models to licensed financial players both domestically and overseas. Its banking segment, through Hong Kong-based virtual bank ZA Bank, offers similar services as traditional offline banks but without an offline presence.

Asia

Penny Stocks

Small Cap

Markets

ZZHGF

Key Takeaways:


	ZhongAn’s gross written premiums rose 16% last year to 23.6 billion yuan, slowing from 22% growth in 2021
	The insurer faces challenges from China’s abrupt end to strict Covid-19 controls, while slumping global stock and bond markets also make investing gains difficult


By Warren Yang

ZhongAn&#39;s Insurance Sales Show Signs Of Picking Up, But Challenges Remain

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ARKQ

ARKW

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ISRG

MASS

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PSTG

PSTI

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SGFY

SPOT

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TREE

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TWTR

REGEN

Cathie Wood’s Ark Investment Management sends out an email every night listing the stocks that were bought or sold by the firm&#39;s ETFs that day. In recent months, the emails have known to cause certain stocks to see a spike in the after-hours session. Here’s a list of 32 stocks that the hedge fund bought and sold on Tuesday.

Facebook, Twilio, Spotify, PayPal, Unity — What Cathie Wood&#39;s Ark Bought And Sold On Tuesday

Retail Sales

AAPL

ADBE

DKNG

NFLX

PTON

RHHBY

ROKU

RPTX

SHOP

TDOC

WKHS

Cathie Wood’s Ark Investment Management sends out an email every night listing the stocks that were bought or sold by the firm&#39;s ETFs that day. In recent months, the emails have known to cause certain stocks to see a spike in the after-hours session. Here’s a list of 43 stocks that the hedge fund bought and sold on Monday.

Apple, Netflix, Peloton, Square, Roku, DraftKings - What Cathie Wood&#39;s Ark Bought And Sold On Monday

ZHONGAN ONLINE P&C ORD by ZhongAn Online P & C Insurance Co., Ltd.

ZhongAn Online P&C Insurance Co Ltd

Hyatt adds new properties in new markets and expands wellbeing offerings to enrich the guest experience
<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.hyatt.com%2F&amp;esheet=54125663&amp;newsitemid=20240923282399&amp;lan=en-US&amp;anchor=Hyatt+Hotels+Corporation&amp;index=1&amp;md5=2ef267d77fe6301c87745d6df4b7985c">Hyatt Hotels Corporation</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/H#NYSE">H</a>) continues the strategic expansion of luxury and lifestyle hotels with a significant development pipeline of more than 20 recent and planned openings across the U.S., Canada, Mexico, Latin America and the Caribbean through 2025. This planned growth will expand Hyatt's brand footprint in several new regional markets, allowing Hyatt to care for guests and World of Hyatt members in more places and on more stay occasions.
Since 2017, Hyatt has doubled its number of luxury rooms, tripled its number of resort rooms, and quintupled its number of lifestyle rooms globally. This growth establishes Hyatt as the fastest-growing luxury portfolio with the largest number of luxury-branded rooms in resort locations worldwide and underscores Hyatt's position as the premier hotel brand for high-end travelers seeking rich and experiential luxury, resort and lifestyle stays. Hyatt found in its recent Mid-Year 2024 Consumer Sentiment and Travel Expectations Report that 88% of consumers are showing a steady intent to travel for leisure.

Global

Hyatt  Continues The Strategic Expansion Of Luxury And Lifestyle Hotels With A Significant Development Pipeline Of More Than 20 Recent And Planned Openings Across The U.S., Canada, Mexico, Latin America And The Caribbean Through 2025

By <a href="https://roboforex.com/beginners/analytics/forex-forecast/?utm_source=benzinga.com&amp;utm_medium=pr&amp;utm_campaign=rf_en_external_article_23092024&amp;utm_content=analysis&amp;utm_term=forecast">RoboForex Analytical Department</a>
Gold prices soared to a new all-time high, with the troy ounce surpassing 2614 USD. This surge is primarily driven by expectations of additional interest rate cuts and ongoing geopolitical tensions, which enhance gold&#39;s appeal as a safe-haven asset.
Following the US Federal Reserve&#39;s decision last week to reduce its interest rate by 50 basis points &ndash; the first such cut in four years &ndash; the market expects an equivalent reduction by the year&#39;s end. This week, attention is focused on upcoming US macroeconomic releases, including the Core PCE report and personal income and expenditures data. These indicators will provide insights into the potential direction of future Fed rate adjustments.
Gold becomes increasingly attractive as an investment during periods of lower lending costs, which typically lead to reduced yields on government bonds and a lower Dollar Index (DXY). Unlike other assets, gold does not generate coupon income, making it more appealing when other yields decline.
Additionally, the escalation of hostilities between Israel and Gaza has further boosted demand for gold. In times of heightened global uncertainty and conflict, gold traditionally performs well as a defensive investment.
Despite some strengthening of the US dollar, this has not significantly impacted the upward trajectory of gold prices.
<h3>Technical Analysis Of Gold</h3>
<a href="https://www.benzinga.com/files/u117641/xauusdh4_25.png"><img alt="" src="https://www.benzinga.com/files/u117641/xauusdh4_25.png" style="height:275px; width:624px" /></a>
Gold has broken through the resistance at 2611.00 USD and is now targeting 2672.00 USD. Upon reaching this level, a corrective movement back to 2611.00 USD may occur, followed by another growth phase targeting 2750.00 USD. The MACD indicator supports this bullish outlook, with the signal line well above zero and ascending sharply.
<a href="https://www.benzinga.com/files/u117641/xauusdh1_26.png"><img alt="" src="https://www.benzinga.com/files/u117641/xauusdh1_26.png" style="height:275px; width:624px" /></a>
The H1 chart shows that gold has reached 2611.00 USD and is now consolidating around this level. The consolidation range is defined between 2603.00 USD and 2625.25 USD. A breakout above 2625.25 USD would likely lead to a continuation of the upward momentum towards 2672.00 USD, confirming the ongoing bullish trend. This scenario is corroborated by the Stochastic oscillator, with its signal line progressing towards 80, indicating sustained upward momentum.
Disclaimer
Any forecasts contained herein are based on the author&#39;s particular opinion. This analysis may not be treated as trading advice. RoboForex bears no responsibility for trading results based on trading recommendations and reviews contained herein.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.

Gold Reaches New Record As Investors Eye Further Rate Cuts

TD Cowen analyst Lance Vitanza maintains MicroStrategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) with a Buy and raises the price target from $195 to $200.

Price Target

Analyst Ratings

MSTR

TD Cowen Maintains Buy on MicroStrategy, Raises Price Target to $200

Northland Capital Markets analyst Mike Grondahl reiterates Sezzle (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEZL#NASDAQ">SEZL</a>) with a Outperform and raises the price target from $150 to $185.

Reiteration

SEZL

Northland Capital Markets Reiterates Outperform on Sezzle, Raises Price Target to $185

CRKN

Crown PE Pipelines Division Secures $33M In Contracts For Lead Pipe Remediation, Set To Begin January 2025

<a href="https://www.globenewswire.com/Tracker?data=afIWGkduhoVWw5lazkmLDNF728FYi3fnOKz7m1KZFvViHJUntsxkVMWD9K-hYRaToZml2BsyGyge69LMPna48J12i2G6N3Xzc9SLUZvypAgDzPilFPOI8Cz4TXDDVCARtrGuLITwCQK1YlysMr-YdxsCYK0h1oIk9QURo5KyuJTXDaE_MUryiucdqKTfwVDeQyUTkENQoc8kaYSVXqyqnxcxzeTopQG5OTI5F4IqjVtebgRnY3m_nX10YTfqvDZoMHSkvc30szNezP2ztLjTig==">Capricor Therapeutics</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAPR#NASDAQ">CAPR</a>), a biotechnology company developing transformative cell and exosome-based therapeutics for the treatment of rare diseases, today announced that it will host an investor webcast on Tuesday, September 24, 2024 at 8:30 a.m. ET to provide an update on its Duchenne muscular dystrophy (DMD) program. The update will consist of the latest regulatory updates following the Company's recent meetings with the U.S. Food and Drug Administration (FDA). &nbsp;
Webcast Details
Capricor will host a conference call and webcast at 8:30 a.m. ET on Tuesday, September 24, 2024. To participate in the conference call, please dial 1-800-717-1738 (domestic/toll-free) or 1-646-307-1865 (international) and reference the conference ID: 62574. Participants can use guest dial-in numbers above and be answered by an operator or click <a href="https://www.globenewswire.com/Tracker?data=5AKI7jB4QKUvue1lnb96fqjZ8j8GZ9V1GHZq_NN2fwCH5svNZRxBkzXgDK1zmo8eojdc3fDbDpmDahf7nxGvI9Gfoy4kfIC1AxVcgdvH0Og=">here</a> for instant telephone access. To participate via webcast, please click <a href="https://www.globenewswire.com/Tracker?data=5AKI7jB4QKUvue1lnb96fq1Zut4R0yEvi9ff6fGJhAcHs4IIHXaNrmUU8h-cxoq4GHOTrEt83z4yixgN-OUjEJrHc7J8vk4bXojG1TinhRuGXmkyE6DBubcSMxd56HjyaDC2lYDN0mrQ-yTYxyEYag==">here</a> to view the slides. A replay of the webcast will be available following the conclusion of the live broadcast and will be accessible on the <a href="https://www.globenewswire.com/Tracker?data=nFxBPfkAeaG_eZnMr2-UIo9QhrWhZNi7oPMLSSQjyOFzFyVOhMcUJwcQeiA-gOasuxefW8y_qOLX9FnMMGyoVA==">Company's website</a>.

Biotech

Events

General

CAPR

Capricor Therapeutics to Provide Duchenne Muscular Dystrophy Program Update On September 24, 2024 At 8:30 a.m. ET

The U.S. Commerce Department has proposed banning key Chinese software and hardware in connected vehicles on American roads, citing national security concerns.
What Happened: The proposed regulation would effectively bar nearly all Chinese cars from entering the U.S. market. The Biden administration has expressed worries about data collection by Chinese companies on U.S. drivers and infrastructure through connected vehicles, Reuters reported on Monday.
The White House has ordered an investigation into potential dangers, including foreign manipulation of internet-connected and navigation systems in vehicles. The prohibitions would also prevent Chinese automakers from testing self-driving cars on U.S. roads.
Commerce Secretary Gina Raimondo highlighted the risks, stating, &#8220;When foreign adversaries build software to make a vehicle that means it can be used for surveillance, can be remotely controlled, which threatens the privacy and safety of Americans on the road.&#8221;
White House National Security Adviser Jake Sullivan added that the proposal would effectively ban all existing Chinese light-duty cars and trucks from the U.S. market, though Chinese automakers could seek specific authorizations for exemptions.
The proposal calls for software prohibitions to be effective in the 2027 model year, while the hardware ban would take effect in the 2030 model year or January 2029. The Commerce Department is allowing 30 days for public comment and aims to finalize the rules by Jan. 20.
See Also: <a href="https://www.benzinga.com/news/24/09/40935722/spacex-ceo-elon-musk-says-anyone-can-go-to-mars-with-spacex-but-journey-would-be-like-a-long-sea-voy?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">SpaceX CEO Elon Musk Says Anyone Can Go To Mars With SpaceX But Journey Would Be Like A &#8216;Long Sea Voyage In Centuries Past&#8217;</a>
Why It Matters: The proposed ban on Chinese vehicles comes amid escalating trade tensions between the U.S. and China. Just last week, the Biden administration<a href="https://www.benzinga.com/markets/asia/24/09/40886450/50-of-new-car-sales-in-china-are-electric-but-in-the-us-its-only-10-are-protectionist-policies-widen"> imposed steep tariffs</a> on Chinese goods, including a 100% tax on electric vehicles made in China. The tariffs also cover Chinese solar panels, EV batteries, steel, aluminum, and other crucial minerals. This move aims to boost U.S. manufacturing and jobs, particularly in battleground states like Michigan, which is central to the American auto industry.
Additionally, former President Donald Trump has<a href="https://www.benzinga.com/news/24/09/40913456/trump-vows-200-tariffs-on-chinese-made-cars-in-mexico-warns-of-us-auto-industry-collapse-if-kamala-h"> vowed to impose 200% tariffs</a> on Chinese-made cars produced in Mexico, further intensifying the trade war rhetoric. Trump warned that if Kamala Harris wins the 2024 election, the U.S. auto industry could collapse within two to three years due to EV production moving to China.
On the other side, China has advised its automakers to keep <a href="https://www.benzinga.com/news/24/09/40825946/china-wants-automakers-to-safeguard-their-ev-technology-and-keep-it-within-the-country-as-companies">advanced EV technology </a>within the country, even as they expand factories abroad to avoid heavy tariffs. This strategy includes exporting knock-down kits for assembly at foreign plants, ensuring key components are still produced in China.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40968288/marjorie-taylor-greene-slams-lack-of-results-from-biden-administrations-42b-broadband-program-in-geo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Marjorie Taylor Greene Slams Lack Of Results From Biden Administration&#8217;s $42B Broadband Program In Georgia: Elon Musk Calls It &#8216;Staggeringly Bad Waste Of Money&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Tech

US Proposes Ban On Vehicles Equipped With Chinese Software As Team Biden Cracks Down On 'Foreign Adversaries' Threatening 'Privacy And Safety Of Americans On The Road'

<ul>
<li>Production of P7 electric truck line-up to begin Q4 2024 at Roush's facility in Detroit, Michigan, with annual capacity of up to 5,000 trucks. &nbsp;</li>
<li>Motherson to manage global supply chain and logistics for U.S. production as well as on-site manufacturing and quality assurance support via Motherson SAS in Detroit.</li>
<li>Faster production ramp up, improved unit costs, and accelerated road to free-cash flow generation are expected.</li>
<li>Customers have begun securing production slots.</li>
</ul>
TEL AVIV, Israel, Sept. 23, 2024 (GLOBE NEWSWIRE) -- Marking a significant milestone on its path to electrifying fleet vehicles across North America, <a href="https://www.globenewswire.com/Tracker?data=MFG5Eh0agCKBnZUPhm5FDLVb7p3sQvo0l_DhfAt0YDzAreuFwewdyvgbX-Sn3PBFkSAeqV5TAPkt8qmCSRvqJA==">REE Automotive Ltd.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REE#NASDAQ">REE</a>), an automotive technology company and provider of full by-wire electric trucks and platforms, today announced that it has selected <a href="https://www.globenewswire.com/Tracker?data=8mg4JulcrcTcAPtOsP30OJ65LzHqL3uDXZinpMs9a2C0NJ-ifQUyIfFWMigrJhlcIvHY7pzgyyezNryRWKlvUA==">Roush Industries</a>, a leading innovative vehicle contract manufacturer, to assemble REE's P7 vehicles at Roush's Detroit-area factory. REE will continue to manufacture its proprietary REEcorner&#xAE; technology in its UK Coventry Integration Center. With a focus on speed to market and impeccable build quality, Roush's assembly team unites decades of design, engineering, machining, fabrication, testing, manufacturing, and supply chain expertise to deliver a scalable process for REE. Roush will be supported onsite by a joint REE and Motherson team, who will be responsible for overall quality assurance, logistics, and testing.
Roush, as U.S. contract manufacture for the P7 lineup, will be responsible for the assembly of full vehicles according to REE's requirements. REE's software-defined electric trucks will be assembled at Roush's Detroit based site specifically chosen for REE's requirements and designed to have a yearly capacity of up to 5,000 trucks. Motherson, a leading global automotive part supplier with whom REE signed a strategic agreement, will manage global supply chain and logistics targeting cost reduction, improved unit economics and higher margines.
REE's P7 electric commercial trucks line-up is built on top of four REEcorners&#xAE; featuring REE's disruptive x-by-wire technology. REEcorners&#xAE; pack critical vehicle components into the area between the chassis and the wheel, enabling a fully flat electric chassis end-to-end with up to 35% more interior volume for passengers, cargo and batteries. Electric vehicles built on the P7 chassis have the industry's lowest step-in height, are autonomous ready, and can be powered by either batteries or fuel cells. The P7 is well established with a network of 78 service and sales locations through 24 authorized dealers across North America with potential access to over 200 fleets in the U.S. and Canada.

REE Automotive Kick-Off U.S. Production With Roush Industries As Contract Manufacturer; Production Of P7 Electric Truck Line-Up To Begin Q4 2024 At Roush's Facility In Detroit, Michigan, With Annual Capacity Of Up To 5,000 Trucks

Wells Fargo analyst Neil Kalton maintains Constellation Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>) with a Overweight and raises the price target from $250 to $300.

Wells Fargo Maintains Overweight on Constellation Energy, Raises Price Target to $300

Bittensor's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TAO</a>) single-day rally after Vice President <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40975745/kamala-harris-first-public-mention-of-cryptocurrencies-on-campaign-trail-sparks-excitement">Kamala Harris' comments</a> led traders to predict a bullish run for the artificial intelligence crypto coin.
What Happened: With a 17% single-day rally adding to the 82% seven-day rally, Bittensor has attracted several bullish traders' forecasts for the upcoming months. Satoshi Flipper predicts it to go &#8220;parabolic&#8221; once it flips the $640 level.
Crypto trader Sisyphus joked that Bittensor has a higher potential than Tesla, Nvidia, and OpenAI combined, while Daan Crypto Trader noted Bittensor&#8217;s &#8220;beautiful breakout&#8221; off the back of a "very strong move."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24TAO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TAO</a> With a beautiful breakout. This was one of the cleanest charts out there and followed the idea nicely. Some consolidation would make sense to me but this has definitely changed its high timeframe trend around here. Very strong move. <a href="https://t.co/6ExrcTIiAp">https://t.co/6ExrcTIiAp</a> <a href="https://t.co/NPBMgs1yDa">pic.twitter.com/NPBMgs1yDa</a>
&mdash; Daan Crypto Trades (@DaanCrypto) <a href="https://twitter.com/DaanCrypto/status/1838097274167087286?ref_src=twsrc%5Etfw">September 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
DeFi Threador and Researcher ElonMoney <a href="https://x.com/0xelonmoney/status/1838168075398500386">listed</a> out the reasons for Bittensor's growth and why it could peak to a $10 billion valuation from the current $4 billion. 
Decentralized AI training, the introduction of Dynamic TAO (dTAO), and upcoming smart contracts are listed as bullish factors, as well as Bittensor&#8217;s subnets are catching attention for their innovative approaches and skilled development teams.
Also Read: &nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40618295/ai-crypto-tokens-crack-despite-nvidias-q2-earnings-beat-but-ytd-performance-aligns-with-te">AI Crypto Tokens Crack Despite Nvidia&#8217;s Q2 Earnings Beat—But YTD Performance Aligns With Tech Stock&#8217;s Blockbuster Run</a>
Why It Matters: In the past 24 hours, Artificial Intelligence (AI) tokens&#8217; market capitalization is up 6.4% to $29 billion after Democratic nominee Kamala Harris expressed her support for investments in artificial intelligence and crypto. 
At a recent fundraising event, she <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40972902/kamala-harris-finally-mentions-crypto-and-that-too-on-wall-street-promises-to-encourage-in">stated</a> that she would encourage these innovative technologies alongside consumer and investor protection.
Bittensor and other AI crypto coins like Near Protocol (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/near/usd">NEAR</a>) and Artificial Superintelligence Alliance (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/fet/usd">FET</a>) rallied in the aftermath.
Bittensor has been <a href="https://x.com/bitvavocom/status/1836740428189548683?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1836740428189548683%7Ctwgr%5Efc1bc5dcf93c0b2bf4da9590fd5b86f2f57ce021%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fcoinmarketcap.com%2Fcommunity%2Farticles%2F66eda4196aed574fe594c7e0%2F">listed</a> by Bitvavo exchange and has <a href="https://www.youtube.com/watch?v=V2CVx8hGR7M">revealed</a> upcoming upgrades, including receiving EVM compatibility and implementing Ethereum smart contracts, at the Token2049 digital asset conference in Singapore.
What&#8217;s Next: The influence of&nbsp;<a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment" target="_blank" rel="noreferrer noopener">Bitcoin as an institutional asset class</a>&nbsp;is expected to be thoroughly explored at Benzinga&#8217;s upcoming&nbsp;<a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a>&nbsp;event on Nov. 19.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40244865/grayscale-which-offers-bitcoin-and-ethereum-exposure-through-etfs-launches-new-crypto-fund">Grayscale, Which Offers Bitcoin and Ethereum Exposure Through ETFs, Launches New Crypto Funds For These Two Tokens</a></li>
</ul>
Image: Shutterstock

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

Cryptocurrency

$FET

$NEAR

$TAO

This AI Crypto Coin Skyrocketed 17% After Kamala Harris Backed AI And Crypto Investments: Here's The Level When It Could Go 'Parabolic'

Wells Fargo analyst Edward Kelly maintains Walmart (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) with a Overweight and raises the price target from $81 to $88.

Wells Fargo Maintains Overweight on Walmart, Raises Price Target to $88

TD Cowen analyst Shaul Eyal maintains Cellebrite DI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLBT#NASDAQ">CLBT</a>) with a Buy and raises the price target from $20 to $23.

CLBT

TD Cowen Maintains Buy on Cellebrite DI, Raises Price Target to $23

Constellation Energy Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>) shares are trading higher Monday. Multiple analyst firms raised price targets on the stock following the company&#8217;s deal with Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) <a href="https://www.benzinga.com/markets/equities/24/09/40957437/microsoft-taps-constellation-for-20-year-carbon-free-power-3-400-jobs-coming-to-pennsylvania">announced late last week</a>.
What Happened: On Friday, <a href="http://benzinga.com/quote/CEG">Constellation Energy shares</a> jumped more than 22% after the company signed a 20-year power purchase agreement with Microsoft that will restart Three Mile Island and pave the way for the launch of the Crane Clean Energy Center.
Following the announcement, Morgan Stanley analyst David Arcaro maintained Constellation Energy with an <a href="https://www.benzinga.com/analyst-stock-ratings">Overweight </a>and raised the price target from&nbsp;$233&nbsp;to&nbsp;$313. Keybanc analyst Sangita Jain maintained an Overweight rating and raised the price target from&nbsp;$230&nbsp;to&nbsp;$265. Shares appear to be getting a boost on Monday from the price target increases.
Under terms of the agreement, Microsoft will purchase energy from the renewed&nbsp;Three Mile Island Unit 1 as it works towards providing carbon-free energy for its data centers. The company noted that Three Mile Island Unit 1 is a fully independent facility, and its long-term operation was not impacted by the Unit 2 accident that caused the facility to be shut down in 1979.
As the companies prepare for the restart, significant investments will be made to restore the plant. Constellation also said it plans to pursue license renewal that will extend plant operations to at least 2054. Constellation&#8217;s Crane Clean Energy Center is expected to come online in 2028.
&#8220;Before it was prematurely shuttered due to poor economics, this plant was among the safest and most reliable nuclear plants on the grid, and we look forward to bringing it back with a new name and a renewed mission to serve as an economic engine for Pennsylvania,&#8221; said Joe Dominguez, president and CEO of Constellation Energy.
Check This Out: <a href="https://www.benzinga.com/markets/equities/24/09/40957437/microsoft-taps-constellation-for-20-year-carbon-free-power-3-400-jobs-coming-to-pennsylvania">Microsoft Taps Constellation For 20-Year Carbon-Free Power – 3,400 Jobs Coming To Pennsylvania</a>
CEG Price Action: Constellation Energy shares were up 1.97% at $260 at the time of publication, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Shutterstock.

MSFT

Constellation Energy Stock Continues To Climb: What's Going On?

Roth MKM analyst Chip Moore maintains EnerSys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENS#NYSE">ENS</a>) with a Buy and maintains $120 price target.

Roth MKM Maintains Buy on EnerSys, Maintains $120 Price Target

Wells Fargo analyst Ike Boruchow maintains Deckers Outdoor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>) with a Equal-Weight, adjusts target to $165 from $1000 (forward stock split 6:1).

DECK

Wells Fargo Maintains Equal-Weight on Deckers Outdoor, Adjusts Price Target To $165 (forward stock split 6:1)

Riot Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>) on Monday announced that it entered into a settlement agreement with Bitfarms Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BITF#NASDAQ">BITF</a>) related to its ongoing <a href="https://www.benzinga.com/pressreleases/24/09/g40976816/bitfarms-and-riot-announce-settlement">takeover attempt of the company</a>.
What Happened: Riot and Bitfarms reached an agreement ahead of the upcoming special meeting of Bitfarms shareholders. Under terms of the agreement, Andrés Finkielsztain has stepped down from Bitfarms&#8217; board. The company said it appointed Amy Freedman to its board, as well as its governance and nominating committee and compensation committee.
Riot Platforms has agreed to withdraw its requisition and accept customary standstill provisions through the Bitfarms 2026 annual meeting. At the meeting, shareholders will be asked to vote to approve an expansion of the company&#8217;s board from five to six members, elect an independent director and ratify the company&#8217;s shareholder rights plan. Riot has said it will vote in favor of these proposals. 
&#8220;The Bitfarms Board is committed to effectively overseeing the execution of the Company&#8217;s strategic plan as we work to position Bitfarms to capitalize on the opportunities ahead,&#8221; said Brian Howlett, independent chairman of Bitfarms&#8217; board.
&#8220;Additionally, we recognize the importance of refreshment and having the right mix of skills, experience and diversity, and we are always open to adding qualified candidates with valuable insights and perspectives to strengthen our Board. We are pleased to reach this agreement with Riot, which we believe is in the best interests of all Bitfarms shareholders.&#8221;
Bitfarms also gave Riot Platforms certain rights to purchase shares of the company provided Riot holds&nbsp;15%&nbsp;or more of the outstanding common shares of the company. The Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) miner noted that its upcoming special meeting of shareholders will take place no later than Nov. 20. 
&#8220;This agreement represents a significant step to advance shareholder value creation at our respective companies and we are pleased to have reached this constructive resolution with Bitfarms,&#8221; said Jason Les, CEO of Riot.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40969202/massive-crypto-heist-heres-how-two-suspects-were-nabbed-in-230m-theft">Massive Crypto Heist: Here&#8217;s How Two Suspects Were Nabbed In $230M Theft</a>
RIOT Price Action: <a href="http://benzinga.com/quote/riot">Riot Platforms shares</a> were up 0.14% at $7.23 at the time of publication Monday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Shutterstock.

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$BTC

BITF

RIOT

What's Going On With Bitcoin Mining Stock Riot Platforms Monday?

The U.S. Commerce Department proposed Monday an outright block on the import and sale of Chinese-made vehicles that contain key communications and automated driving systems due <a href="https://www.benzinga.com/topic/china">to national security concerns.</a>
This sweeping proposal, reported by Reuters, would have the effect of shutting out nearly all Chinese cars from the U.S. market, intensifying the ongoing economic standoff between the two global superpowers.
The proposed regulation would not only target vehicles but also encompass the software and hardware integral to modern connected cars. 
This means that any vehicle equipped with systems that facilitate internet connectivity or data sharing — which are now ubiquitous in newer models — could be banned if these technologies are sourced from China or any other nation deemed a foreign adversary, including Russia.
<h3 class="wp-block-heading">Heightened Security Concerns</h3>
The Biden administration has expressed growing concerns over the potential for data collected by Chinese automakers and tech companies to be used for espionage or to undermine U.S. infrastructure. 
With many modern cars linked to the internet, allowing them to communicate with external systems for navigation, safety features, and data storage, officials worry that Chinese companies could exploit these connections to gather sensitive information or even manipulate vehicle operations remotely.
For instance, an extreme scenario, as warned by government officials, could see adversaries remotely controlling vehicles or causing accidents at scale.
<h3 class="wp-block-heading">Impact On The Auto Industry, Stock Reactions</h3>
This new ban, if enacted, could be a game changer for the automotive industry. Chinese automakers such as BYD, Nio and Xpeng, which have been eyeing the U.S. market, would face significant roadblocks.
Even American and other international automakers that source components from Chinese suppliers could be impacted, especially when it comes to hardware and software development.
The Alliance for Automotive Innovation – a trade group representing major automakers including General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), Toyota Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>), Volkswagen AG (OTCPK: VWAGY), and Hyundai Motor Co., Ltd (OTCPK: HYMTF) – has expressed caution about the proposed bans, according to Reuters. 
Automakers noted that connected vehicle components are sourced globally, including from China, and that reconfiguring supply chains to avoid Chinese software and hardware could prove challenging.
While the group has not yet provided a detailed breakdown of how extensively Chinese-made parts are used in U.S. vehicles, it&#8217;s clear the proposed bans would require significant adjustments for automakers operating in the U.S. market.
Shares of General Motors fell over 3% during Monday premarket trading, while Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) rose 1.3%. 
Shares of major Chinese automakers had mixed reactions. NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) fell over 2%, while XPeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) dropped 0.8%. In contrast, Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) managed to rise by 1%, bucking the downward trend.
<h3 class="wp-block-heading">Broadening Trade War</h3>
This move is part of a broader campaign by the U.S. government to curb China&#8217;s influence in the American economy. Just last week, the Biden administration imposed hefty tariffs on Chinese imports, including a 100% duty on electric vehicles and key minerals used in EV batteries.
These combined measures could reshape the competitive landscape in the U.S. auto market, particularly in the growing electric vehicle sector.
In addition, the proposal could hamper Chinese companies&#8217; ability to test self-driving or autonomous cars on U.S. soil, limiting their participation in an industry expected to revolutionize transportation over the coming decades.
<h3 class="wp-block-heading">Timeline For Ban</h3>
The proposed rules would phase in over the next several years. Software restrictions would apply to vehicles from the 2027 model year onward, while hardware bans would take effect for 2030 models, starting as early as January 2029, Reuters said. 
This phased approach is designed to allow automakers time to adapt their supply chains and eliminate Chinese components from their vehicles. Given the global nature of the automotive supply chain, transitioning away from Chinese-made components could be a costly and complex process.
Read Next:
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<li><a href="https://www.benzinga.com/news/earnings/24/09/40976900/wall-street-eyes-modestly-positive-start-as-atypical-september-rally-generates-positive-sentiment-c">Wall Street Eyes Modestly Positive Start As Atypical September Rally Generates Positive Sentiment, China Cuts Rate: Intel, Palantir, Bitcoin Make Huge Moves</a></li>
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HYMTF

VWAGY

XPEV

Chinese Vehicle Tech Faces Biden Administration Ban Over National Security Concerns: China EV Stocks Fall

Roth MKM analyst Jonathan Aschoff maintains Aptevo Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APVO#NASDAQ">APVO</a>) with a Buy and lowers the price target from $15 to $8.

APVO

Roth MKM Maintains Buy on Aptevo Therapeutics, Lowers Price Target to $8

Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) is unique compared to other cryptocurrencies, according to its lead developer, who urged market participants to value <a href="https://www.benzinga.com/money/dogecoin-doge-price-prediction">the apex meme coin</a>.
What Happened: Dogecoin&#8217;s lead developer Mishaboar took to his social media <a href="https://x.com/mishaboar/status/1837860367357132822">account</a> to emphasize the significance of Dogecoin&#8217;s decentralized nature, stating that it is open to everyone and not controlled by any centralized entity or organization. He highlighted Dogecoin&#8217;s unique origin story and its resilience in the crypto industry.
The developer pointed out that most of the top 20 cryptocurrencies are either extremely centralized or controlled by a group that has become influential and wealthy. This, he believes, creates a depressing outlook for the industry.
&#8220;Even if one believes the intentions of these centralized parties are benevolent, they all seem to become a source of weakness, sometimes for the future of technical implementation, and other times for the future of the market surrounding that crypto," Mishaboar stated.
He concluded, "No matter what you are building: value Dogecoin for what it is, in a panorama that is honestly (to me) unexciting or downright depressing, filled with scammers and grifters. But also with many decent people working hard and often in the shadows."
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40921872/dogecoin-will-outperform-bitcoin-in-2025-vows-trader-heres-what-the-follower-effect-means">Dogecoin Will Outperform Bitcoin In 2025, Vows Trader: Here&#8217;s What The &#8216;Follower Effect&#8217; Means</a>
Why It Matters: Crypto analyst Ali Martinez sees Dogecoin preparing for a bullish breakout, as its Relative Strength Index broke the descending trendline on the chart. 
He cautioned that the meme coin's price is yet to cross the $0.11 resistance level.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> is gearing up for a bullish breakout! And one of the two conditions has been achieved: &#x2705;The RSI broke the descending trendline on the daily chart. &#x2b55;&#xFE0F;Now we need <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a> surging past the $0.11 resistance! <a href="https://t.co/XN6KPh0fRr">https://t.co/XN6KPh0fRr</a> <a href="https://t.co/SbKS8hY3Ri">pic.twitter.com/SbKS8hY3Ri</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1837551114180612139?ref_src=twsrc%5Etfw">September 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
IntoTheBlock data shows large transaction volume decreasing by 15.5% and daily active addresses dropping by 2.8%. Transactions greater than $100,000 are down from 199 to 141 in a single day. Exchanges netflows rose by 10.5%.
Dogecoin is down 0.6% over the past 24 hours, trading at $0.1062.
What&#8217;s Next: The influence of meme coins is expected to be thoroughly explored at Benzinga&#8217;s upcoming <a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a> event on Nov. 19.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40937447/dogecoin-rallied-4-5-dogecoin-killer-shiba-inu-8-what-is-going-on">Dogecoin Rallied 4.5%, &#8216;Dogecoin Killer&#8217; Shiba Inu 8%: What Is Going On?</a></li>
</ul>
Image: Shutterstock

$DOGE

'Value Dogecoin,' Says Lead DOGE Developer, Who Warns Of 'Scammers And Grifters' In The Space

TD Cowen analyst Moshe Orenbuch maintains Ally Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>) with a Hold and lowers the price target from $45 to $37.

ALLY

TD Cowen Maintains Hold on Ally Financial, Lowers Price Target to $37

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