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Elanco Animal Health - Government Trades

Elanco Animal Health

Elanco Animal Health Inc is an animal health company that is engaged in innovating, developing, manufacturing, and marketing products for companion and food animals. Geographically, the company's operations are conducted globally and sell its products in over 90 countries. It offers a range of food animal products used in cattle, sheep, goats, and swine production. The company's product portfolio of approximately 200 brands.

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General

Elanco Animal Health shares drop after updates on FDA approval timelines for Zenrelia and Credelio Quattro. Zenrelia&#39;s U.S. label includes a boxed warning, impacting adoption. U.S. launches for both drugs are planned for late 2024 and early 2025.

Elanco Animal Health Shares Sink On Unexpected Label Update For Canine Dermatology Drug

Pre-Market Outlook

Markets

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Hims & Hers Health, Inc. Class A Common Stock

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Levi Strauss Posts Mixed Results, Joins Walgreens, AeroVironment And Other Big Stocks Moving Lower In Thursday&#39;s Pre-Market Session

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Earnings

Guidance

Elanco Animal Health (NYSE: ELAN) reports Q1 results: adjusted EPS $0.34 (-26% Y/Y), sales $1.21B (-4% Y/Y). 2024 guidance: EPS $0.88-$0.96, revenue $4.46-$4.52 billion.

Elanco Animal Health&#39;s Q1 Earnings Show Improved Base Business, Analyst Highlights Slightly Delayed But Encouraging Pipeline

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Hannon Armstrong Sustainable Infrastructure Capital

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Why Upstart Shares Are Trading Lower By Around 10%? Here Are Other Stocks Moving In Wednesday&#39;s Mid-Day Session

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Louisiana-Pacific Posts Upbeat Results, Joins Cricut, Elanco Animal, American Public Education And Other Big Stocks Moving Higher On Wednesday

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Equities

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IDXX

Elanco Animal Health settles with Ancora, expanding board to 14 members, including Ancora&#39;s nominees Craig Wallace and Kathy Turner. Ancora&#39;s significant stake in Elanco, approximately $250 million, has driven discussions on board restructuring and CEO succession planning.

Investor Activism: Elanco Animal Health Settles with Ancora, Adds New Board Members

Elanco Animal Health reports Q4 2023 revenue of $1.035 billion, exceeding consensus. Explore insights into pet and farm animal segments, profit margins, and 2024 guidance.

This Pet Health Company Sees Growing Demand For Farm-Animal Products, Cost Savings From Restructuring

Futures

Previews

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Federal Reserve

ADTN

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NVDA

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The record run could introduce caution as the market heads into one of the seasonally weaker month of the year, with index futures lower on Monday.

US Stocks Could Pause For Breather After Record Rally: Analyst Says &#39;No Doubt&#39; That 2024 Shaping Up To &#39;Best Year Since 1999&#39;

&#34;Merck Animal Health expands aqua portfolio with the $1.3 billion acquisition of Elanco&#39;s aqua business. Expected completion by mid-2024.&#34;

Elanco Animal Health To Offload Aqua Business For $1.3B, Plans To Lower Debt Burden

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Core Scientific, Inc. - Class A Common Stock

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Morgan Stanley Capital Protected Notes for S&P 500 Index

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SMCI

U.S. stocks traded lower, with the Dow Jones falling over 300 points on Monday.

Estée Lauder Posts Upbeat Earnings, Joins ON Semiconductor, Tyson Foods And Other Big Stocks Moving Higher On Monday

Elanco Animal Health Incorporated Common Stock

Elanco Animal Health Inc

ELANIX BIOTECHNOLOGIES AG by ELANIX BIOTECHNOLOGIES AG

The stock market is up solidly this year, thanks to <a href="https://www.benzinga.com/economics/macro-economic-events/24/06/39546658/federal-reserve-to-follow-european-banks-footsteps-likely-to-cut-rates-in-septemb">expectations of rate cuts by the Federal Reserve</a> amid easing inflationary pressure, strong corporate earnings and optimism over the potential of artificial intelligence technology&#8217;s potential.
Building On Gains: The S&amp;P 500 Index, a measure of broader market performance, has gained a robust 14.48% so far this year, and it is up 3.92% for the second quarter. The index last hit a record closing high (5,487.03) on June 18, and breached the 5,500 mark intraday on June 20. Since then, the broader gauge has been going about a consolidation move.
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), an exchange-traded fund that tracks the performance of the S&amp;P 500 Index, ended Friday&#8217;s session down 0.39% at $544.22, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
Analysts are optimistic about further gains in the second half of the year. Following the S&amp;P 500&#8217;s record run, most have raised their year-end targets. Evercore ISI now has the highest estimate, predicting the index will end the year at 6,000.
Top Heaviness A Concern? Notwithstanding the equity market&#8217;s extended run, investors and analysts alike are concerned about the concentration of gains among a select few stocks. This is evident from the relative underperformance of the S&amp;P EQUAL WEIGHT INDEX, in which the index components are accorded uniform weighting, versus the market cap-weighted S&amp;P 500 Index.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="459" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/30131559/image-65-1024x459.png" alt="" class="wp-image-412596" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/30131559/image-65-1024x459.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/30131559/image-65-300x135.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/30131559/image-65-768x345.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/30131559/image-65-1536x689.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/30131559/image-65.png 1665w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
 Source: Yahoo Finance.
The 10 largest stocks as a percentage of the S&amp;P 500&#8217;s overall market cap have surged to 38%, Charles Schwab <a href="https://www.schwab.com/learn/story/hard-to-concentrate-top-heavy-market">said</a> in a recent report. Ark Invest&#8217;s Cathie Wood stated in a recent webinar that market concentration has reached an extreme, surpassing levels seen during the Great Depression in 1932.
See Also: <a href="https://www.benzinga.com/money/best-value-stocks">Best Value Stock</a>
Here&#8217;s a look at S&amp;P 500 leaders and laggards of the first-half:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td class="has-text-align-right" data-align="right">Leaders</td>
<td></td>
<td></td>
</tr>
<tr>
<td class="has-text-align-right" data-align="right">1. </td>
<td>Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>)</td>
<td>+188.2%</td>
</tr>
<tr>
<td class="has-text-align-right" data-align="right">2. </td>
<td>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)</td>
<td>+149.5%</td>
</tr>
<tr>
<td class="has-text-align-right" data-align="right">3. </td>
<td>Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>)</td>
<td>+123.2%</td>
</tr>
<tr>
<td class="has-text-align-right" data-align="right">4. </td>
<td>Constellation Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NYSE">CEG</a>)</td>
<td>+71.3%</td>
</tr>
<tr>
<td class="has-text-align-right" data-align="right">5. </td>
<td>General Electric Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>)</td>
<td>+56.2%</td>
</tr>
<tr>
<td class="has-text-align-right" data-align="right">Laggards</td>
<td></td>
<td></td>
</tr>
<tr>
<td class="has-text-align-right" data-align="right">1. </td>
<td>Walgreens Boots Alliance, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NYSE">WBA</a>)</td>
<td>-53.7%</td>
</tr>
<tr>
<td class="has-text-align-right" data-align="right">2. </td>
<td>Lululemon Athletica Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>)</td>
<td>-41.6%</td>
</tr>
<tr>
<td class="has-text-align-right" data-align="right">3. </td>
<td>Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>)</td>
<td>-38.4%</td>
</tr>
<tr>
<td class="has-text-align-right" data-align="right">4. </td>
<td>EPAM Systems, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EPAM#NYSE">EPAM</a>)</td>
<td>-36.7%</td>
</tr>
<tr>
<td class="has-text-align-right" data-align="right">5. </td>
<td>Warner Bros. Discovery, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>)</td>
<td>-34.46%</td>
</tr>
</tbody>
</table>
</figure>
Nvidia and Texas-based utility company Vistra also feature among the top five gainers for the second quarter. Others rounding off the list are First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), GE Vernova Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>), a utility company splintered from GE, and semiconductor testing company Teradyne, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TER#NASDAQ">TER</a>).
Second-quarter decliners include the year-to-date laggards Walgreens Boots Alliance, Intel and EPAM Systems. The other two top-five poor performers are Estée Lauder Companies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EL#NASDAQ">EL</a>) and building products and equipment maker Builders FirstSource, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLDR#NYSE">BLDR</a>).
The top five gainers belonged mostly to the tech and utility sectors, while the laggards were mostly from consumer stocks. 
Look Ahead: The outlook is largely positive heading into the second half of 2024, said Morgan Stanley analysts in the firm&#8217;s mid-year outlook. The firm&#8217;s expectation is predicated on the Fed rate cut materializing in September. The futures market is pricing in a 64% probability of a rate cut in September.
JPMorgan analysts also see positive momentum continuing. 
&#8220;The end of monetary tightening combined with strong nominal GDP growth provide a constructive backdrop for U.S. equities over the remainder of the year,&#8221; the analysts said. 
Fed rate cuts are widely seen as a precursor for the broadening of the stock market rally. The underperformers of the first-half of the year could bounce back strongly when inflation eases further, allowing the central bank to take down interest rates from 22-year highs.
Ark Invest&#8217;s Wood<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39542910/time-to-buy-small-and-mid-cap-stocks-cathie-wood-sees-broadening-rally-after-market"> sees the scope of a strong rebound.</a> After concentration peaked during the Great Depression, the market rose 62% over the next three to four years. The gains were disproportionately favoring the smaller and mid-cap stocks as opposed &#8220;to the mega-cap cash fortresses,&#8221; she said. 
Candidates For Outperformance: Benzinga screened some lagging stocks that are poised to outperform when the macro and geopolitical environment turn benign. The criteria used for screening are SMID-cap stocks, average volume greater than 50,000, average analysts&#8217; price target of &#8220;Buy&#8221; or better, average analysts&#8217; price target of 20% higher than the current price and relative strength index less than 40. These include:
<ul>
<li>Bath &amp; Body Works, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBWI#NYSE">BBWI</a>)</li>
<li>American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>)</li>
<li>Dayforce Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAY#NYSE">DAY</a>)</li>
<li>BorgWarner Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BWA#NYSE">BWA</a>)</li>
<li>Bio-Rad Laboratories, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BIO#NYSE">BIO</a>)</li>
</ul>
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39565545/prominent-economist-paul-krugman-says-inflation-beaten-underlines-this-as-reason-fo">Prominent Economist Paul Krugman Says &#8216;Inflation Beaten,&#8217; Underlines This As Reason For Sticky Pricing Pressure</a>
Photo: Shutterstock

Media

BBWI

BLDR

EPAM

FSLR

INTC

LULU

S&P 500 Ends First Half Shy Of All-Time Highs. Here Are The Leaders And Laggards — And 5 Stocks That Could Outperform In Next 6 Months

Reuters Reported Boeing Agreed On Sunday To Acquire Spirit AeroSystems For $37.25/Share, In All-Stock Deal

These mid-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol></ol>
<ol>
<li>Tempus AI, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEM#NASDAQ">TEM</a>) shares jumped 30.43% after the company announced it received U.S. FDA 510(k) clearance for its Tempus ECG-AF device, which uses AI to help identify patients who may be at increased risk of <a href="https://www.benzinga.com//node/39502483" target="_blank" rel="noreferrer noopener">atrial fibrillation/flutter</a>.</li>
<li>Enovix Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENVX#NASDAQ">ENVX</a>) shares jumped 29.70% after it signed a Memorandum of Understanding (MOU) with Elentec Co, a consumer electronic battery pack manufacturing <a href="https://www.benzinga.com//node/39500706" target="_blank" rel="noreferrer noopener">company in Asia</a>. </li>
<li>Grindr Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRND#NYSE">GRND</a>) stock escalated 27.50% after the company raised its full-year revenue guidance ahead of its <a href="https://www.benzinga.com//node/39504431" target="_blank" rel="noreferrer noopener">first investor day</a>.</li>
<li>Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJTWW#NASDAQ">DJTWW</a>) equity warrant stock gained 18.33% after the company said that it expects to receive over $69.4 million from the cash exercise of warrants on <a href="https://www.benzinga.com//node/39453772" target="_blank" rel="noreferrer noopener">June 20 and 21, 2024</a>.</li>
<li>Credo Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRDO#NASDAQ">CRDO</a>) shares increased 18.30% after TD Cowen upgraded the stock from Hold to Buy and raised its <a href="https://www.benzinga.com/quote/CRDO/analyst-ratings" target="_blank" rel="noreferrer noopener">price target from $24 to $35</a>.</li>
<li>Tecnoglass Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGLS#NYSE">TGLS</a>) stock grew 17.90% after the company announced that its Board of Directors is reviewing the company&#8217;s strategic alternatives. Also, the company <a href="https://www.benzinga.com//node/39489521" target="_blank" rel="noreferrer noopener">reiterated its FY24 guidance</a>.</li>
<li>STAAR Surgical Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STAA#NASDAQ">STAA</a>) shares are up 16.55%.</li>
<li>RXO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXO#NYSE">EXO</a>) shares gained 16.22% last week following the announcement of Coyote Logistics&#8217; <a href="https://www.benzinga.com//node/39453065" target="_blank" rel="noreferrer noopener">acquisition from UPS</a>.</li>
<li>Global-E Online Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLBE#NASDAQ">GLBE</a>) stock gained 16.21% last week.</li>
<li>SentinelOne Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/S#NYSE">S</a>) shares gained 15.47% after DA Davidson maintained a Neutral rating on the stock and raised its price forecast <a href="https://www.benzinga.com/quote/S/analyst-ratings" target="_blank" rel="noreferrer noopener">from $17 to $18.5</a>.</li>
</ol>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/large-cap/24/06/39565694/moderna-and-walgreens-boots-alliance-were-among-the-10-biggest-large-cap-losers-last-week-june-23-">Moderna And Walgreens Boots Alliance Were Among The 10 Biggest Large Cap Losers Last Week (June 23 – June 29): Are These In Your Portfolio?</a></li>
<li><a href="https://www.benzinga.com/news/large-cap/24/06/39565519/rivian-automotive-and-carvana-were-among-the-10-biggest-large-cap-gainers-last-week-june-23-june-2">Rivian Automotive And Carvana Were Among The 10 Biggest Large Cap Gainers Last Week (June 23-June 29): Are These In Your Portfolio?</a></li>
</ul>
Photo via Shutterstock

Mid Cap

CRDO

DJTWW

ENVX

FIZZ

GLBE

GRND

KVYO

TGLS

Trump Media & Technology And Grindr Were Among The 10 Biggest Mid-Cap Stock Gainers Last Week (June 23 - June 29): Are These In Your Portfolio?

Chinese President&nbsp;Xi Jinping&nbsp;has called on his nation to boost its innovation capabilities, in light of the continuing <a target="_blank" href="https://www.benzinga.com/news/24/06/39480781/xi-jinping-urges-china-to-ramp-up-tech-innovation-amid-ongoing-chip-dispute-with-us" rel="noreferrer noopener">semiconductor conflict with the U.S</a>.
A study, conducted by DeepMind, a division of Google&#8217;s parent company, Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), found that the most prevalent misuse of generative AI tools is the creation of realistic yet fake images, videos and <a href="https://www.benzinga.com/news/24/06/39471997/google-deepmind-study-reveals-that-deepfakes-of-politicians-and-celebrities-more-common-than-ai-assi" target="_blank" rel="noreferrer noopener">audio of public figures</a>.
Entertainment &amp; Gaming
Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) has announced a price hike for most of its Paramount+ subscription plans, <a href="https://www.benzinga.com/general/entertainment/24/06/39470765/paramount-wants-you-to-shell-out-more-for-watching-starting-in-august-even-if-you-stream-it" target="_blank" rel="noreferrer noopener">effective in August</a>.
Sony Group Corp.‘s&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) PlayStation has filed a patent for a&nbsp;groundbreaking controller concept. The patent introduces a novel use of electric ink, allowing players to design a custom layout tailored to <a target="_blank" href="https://www.benzinga.com/general/gaming/24/06/39510132/design-your-own-controller-playstations-latest-patent-explained" rel="noreferrer noopener">their&nbsp;unique play style</a>.
Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Blizzard has announced a second Public Test Realm (PTR) for &#8220;Diablo 4,&#8221; focusing on Season 5. This follows the first PTR in April, <a href="https://www.benzinga.com/top-stories/24/06/39488706/get-ready-for-diablo-4-season-5-ptr-highlights-and-expansion-teasers" target="_blank" rel="noreferrer noopener">which previewed Season 4</a>.
Read: <a target="_blank" href="https://www.benzinga.com/general/gaming/24/06/39491189/pok-mon-palworld-controversy-teaches-this-developer-a-lesson-i-try-to-avoid-creating-new-things" rel="noreferrer noopener">Pokémon, Palworld Controversy Teaches This Developer A Lesson: &#8216;I Try To Avoid Creating New Things&#8217;</a>
Smartphones
Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) plans to significantly reduce its&nbsp;iPhone&nbsp;assembly workforce by as much as 50% over the next few years and is facing headwinds <a href="https://www.benzinga.com/news/24/06/39474703/tim-cooks-goal-to-slash-assembly-workers-by-up-to-50-faces-setback-apple-reportedly-facing-precision" target="_blank" rel="noreferrer noopener">due to precision issues</a>.
Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39467166/dan-ives-says-apple-stock-is-headed-to-300-tim-cook-could-claim-godfather-of-ai-tit" rel="noreferrer noopener">Dan Ives Says Apple Stock Is Headed To $300, Tim Cook Could Claim &#8216;Godfather Of AI&#8217; Title: &#8216;It&#8217;s Their Castle&#8217;</a>
Apple has introduced Rich Communication Services (RCS) support in its Messages app with the latest update in the iOS 18 second developer beta, marking a major enhancement in&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/06/39502459/apple-introduces-iphone-update-improves-texting-with-android-users" rel="noreferrer noopener">cross-platform messaging capabilities</a>.
Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39503743/apple-to-gain-market-share-with-ai-smartphone-says-bullish-analyst-skate-to-where-t" target="_blank" rel="noreferrer noopener">Apple To Gain Market Share With AI Smartphone, Says Bullish Analyst: &#8216;Skate To Where The AI Puck Is Going&#8217;</a>
Apple is reportedly struggling to&nbsp;develop a cheaper version&nbsp;of its first-generation <a href="https://www.benzinga.com/news/24/06/39449011/apple-struggling-to-create-its-cheaper-vision-pro-model-says-expert-its-dealing-with-some-difficult" target="_blank" rel="noreferrer noopener">mixed-reality headset, Vision Pro</a>.
Apple has reportedly rejected a proposal from Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) to integrate its AI chatbot, <a href="https://www.benzinga.com/news/24/06/39470144/apple-reportedly-said-no-to-metas-offer-for-iphone-ai-integration-due-to-privacy-policy-concerns" target="_blank" rel="noreferrer noopener">Llama</a><a href="https://www.benzinga.com/news/24/06/39470144/apple-reportedly-said-no-to-metas-offer-for-iphone-ai-integration-due-to-privacy-policy-concerns" target="_blank" rel="noreferrer noopener">, into the iPhone</a>.
Also Read: <a href="https://www.benzinga.com/news/24/06/39449125/apple-glass-potential-competitor-to-ray-ban-meta-smart-glasses-may-take-longer-to-develop-report" target="_blank" rel="noreferrer noopener">Apple Glass, Potential Competitor To Ray-Ban Meta Smart Glasses, May Take Longer To Develop: Report</a>
Apple has reportedly started&nbsp;enabling Rich Communication Services&nbsp;or RCS on its latest&nbsp;iOS 18&nbsp;beta, according to user <a href="https://www.benzinga.com/news/24/06/39495756/green-bubbles-with-read-receipts-apple-starts-enabling-rcs-on-latest-ios-18-beta-say-users" target="_blank" rel="noreferrer noopener">reports on social media</a>.
Technology
Alphabet&#8217;s Google has detailed the potential costs and implications of allowing third-party app stores, such as the Epic Games Store, to operate within the <a target="_blank" href="https://www.benzinga.com/general/gaming/24/06/39487815/epic-games-store-on-google-play-heres-what-it-could-cost" rel="noreferrer noopener">Google Play Store</a>.
Meta Platforms has been under fire for mislabeling real&nbsp;photos as AI-generated on its social networks, a move that has sparked outrage among <a href="https://www.benzinga.com/news/24/06/39472462/mark-zuckerbergs-meta-faces-backlash-for-mislabeling-real-photos-as-made-with-ai" target="_blank" rel="noreferrer noopener">photographers and users</a>.
In a surprising turn of events, Meta Platforms&#8217; Instagram and Threads users discovered an unexpected alteration to their political content settings, sparking a wave of discontent and concern among users <a href="https://www.benzinga.com/news/24/06/39508227/meta-faces-backlash-over-instagram-threads-political-content-settings" target="_blank" rel="noreferrer noopener">and industry experts alike</a>.
Meta Platforms CEO Mark Zuckerberg went ahead with a social media post despite his PR team&#8217;s objections, causing a stir <a href="https://www.benzinga.com/news/24/06/39497848/mark-zuckerbergs-pr-team-couldnt-stop-him-from-posting-my-spine-has-been-surgically-removed-said-for" target="_blank" rel="noreferrer noopener">within the company</a>. The company is <a href="https://www.benzinga.com/general/gaming/24/02/37305770/mark-zuckerberg-on-a-mission-to-outdo-apple-vision-pro-meta-ceo-reportedly-eyes-south-korean-colla" target="_blank" rel="noreferrer noopener">reportedly experimenting</a> with a new feature for its Quest headsets, which allows users to freely position windows in a manner similar to <a href="https://www.benzinga.com/news/24/06/39493929/mark-zuckerbergs-meta-reportedly-tests-apple-vision-pro-like-feature-for-quest-headsets" target="_blank" rel="noreferrer noopener">Apple&#8217;s</a><a href="https://www.benzinga.com/news/24/06/39493929/mark-zuckerbergs-meta-reportedly-tests-apple-vision-pro-like-feature-for-quest-headsets" target="_blank" rel="noreferrer noopener"> </a><a href="https://www.benzinga.com/news/24/06/39493929/mark-zuckerbergs-meta-reportedly-tests-apple-vision-pro-like-feature-for-quest-headsets" target="_blank" rel="noreferrer noopener">Vision Pro</a>.
Twitter&nbsp;co-founder and&nbsp;Block Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>) CEO&nbsp;Jack Dorsey has warned about a future where distinguishing between reality and fabrication will become increasingly challenging due to&nbsp;the <a target="_blank" href="https://www.benzinga.com/news/24/06/39449884/twitter-co-founder-jack-dorsey-thinks-deepfakes-are-taking-us-toward-a-simulated-future-elon-musk-as" rel="noreferrer noopener">proliferation of deepfakes</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/06/39470409/tesla-investor-ross-gerber-shook-by-apple-taking-away-those-free-stickers-i-was-sad" rel="noreferrer noopener">Tesla Investor Ross Gerber Shook By Apple Taking Away Those Free Stickers: &#8216;I Was Sad&#8217;</a>
X CEO&nbsp;Linda Yaccarino has made significant&nbsp;changes to her leadership team&nbsp;as the company faces financial challenges and increasing pressure from&nbsp;Elon Musk&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/06/39448709/under-pressure-from-elon-musk-linda-yaccarino-reshuffles-x-to-focus-on-boosting-sales-and-reducing-c" rel="noreferrer noopener">to reduce costs and boost sales</a>.
Artificial Intelligence (AI)
OpenAI, backed by Microsoft, has reportedly announced its plans to restrict access to its tools and software <a href="https://www.benzinga.com/news/24/06/39476585/chatgpt-maker-openai-to-restrict-access-to-ai-tools-in-china-amid-rising-tensions-report" target="_blank" rel="noreferrer noopener">in China starting in July</a>.
OpenAI has decided to take measures to restrict access to its artificial intelligence tools in China. The company, backed by&nbsp;Microsoft, has reportedly sent out <a target="_blank" href="https://www.benzinga.com/news/24/06/39494097/chatgpt-parent-openai-to-block-access-to-ai-tools-amid-growing-tech-tensions-between-washington-and" rel="noreferrer noopener">warnings to developers in China</a>.
Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39509885/customers-like-googles-ai-overviews-but-still-prefer-chatgpt-at-work-survey" rel="noreferrer noopener">Customers Like Google&#8217;s AI Overviews, But Still Prefer ChatGPT At Work: Survey</a>
OpenAI&#8217;s innovative text-to-video tool, Sora, has been used to produce a brand film for Toys &#8220;R&#8221; Us, indicating a potential game-changer for small studios and<a href="https://www.benzinga.com/news/24/06/39496418/could-openais-sora-be-a-boon-for-small-studios-and-indie-content-creators-new-toys-r-us-origin-story" target="_blank" rel="noreferrer noopener"> independent content creators</a>.
OpenAI has also decided to delay the release of its highly anticipated&nbsp;voice assistant feature&nbsp;for&nbsp;ChatGPT, citing the need to <a href="https://www.benzinga.com/news/24/06/39493705/openai-postpones-launch-of-voice-assistant-a-month-after-scarlet-johansson-blasted-the-chatgpt-paren" target="_blank" rel="noreferrer noopener">address safety issues</a>.
Dario Amodei, CEO of&nbsp;Anthropic, an AI startup backed by Google and&nbsp;Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>),&nbsp;has affirmed his commitment to AI safety, irrespective <a href="https://www.benzinga.com/news/24/06/39450394/whether-donald-trump-wins-election-or-joe-biden-jeff-bezos-backed-anthropics-ceo-says-my-message-is" target="_blank" rel="noreferrer noopener">of the result of the&nbsp;2024 elections</a>.
Related: <a target="_blank" href="https://www.benzinga.com/news/24/06/39448808/anthropic-ceo-dario-amodei-advocates-for-a-more-comprehensive-solution-than-universal-basic-income-t" rel="noreferrer noopener">Anthropic CEO Dario Amodei Advocates For A More Comprehensive Solution Than Universal Basic Income To Tackle AI-Induced Inequality: &#8216;I Would Much Prefer A World…&#8217;</a>
Synthesia, a British AI startup, has unveiled new product updates, including the ability to create AI avatar presentations using<a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39450179/now-make-apple-style-presentations-using-just-your-phone-or-webcam-thanks-to-this-nvidia-backed-" rel="noreferrer noopener"> just a laptop webcam or a phone</a>.
Read: <a href="https://www.benzinga.com/top-stories/24/06/39487208/openai-touts-phd-level-intelligence-for-chatgpt-doctors-joke-its-not-taking-anyones-job" target="_blank" rel="noreferrer noopener">OpenAI Touts&#8217; PhD Level&#8217; Intelligence For ChatGPT, Doctors Joke It&#8217;s &#8216;Not Taking Anyone&#8217;s Job&#8217;</a>
Photo: Shutterstock

AAPL

AMZN

GOOG

MSFT

PARA

Sony Group Corporation American Depositary Shares

SONY

What's New In the Consumer Tech World Last Week ? News That You Should Know (June 23 - June 29, 2024)

Legal

Reuters Reported U.S. Negotiating Plea Agreement With Boeing Arising From Fatal-Crashes Settlement Violation, Citing Sources

In light of former President Donald Trump&#8216;s recently perceived triumph at the presidential debate, world leaders are gearing up for the possibility of a second Trump administration. This comes despite international audiences <a href="https://www.benzinga.com/news/24/06/39445709/trump-vs-biden-rasmussen-poll-now-shows-one-candidate-has-huge-lead-over-other-with-just-4-months-be">expressing more confidence in President Joe Biden.</a>
What Happened: Trump&#8217;s robust performance in the recent debate has triggered a sense of urgency among global leaders. This is despite a Pew <a href="https://www.pewresearch.org/global/2024/06/11/globally-biden-receives-higher-ratings-than-trump/">poll</a> showing that respondents from over 30 countries have more faith in Biden&#8217;s foreign policy decisions. However, the potential for Trump&#8217;s return to power is being taken seriously.
With global confidence in Trump at a low, U.S. allies are getting ready for an America that might withdraw from global affairs due to policy shifts or internal turmoil. 
While diplomatic etiquette typically discourages foreign representatives from commenting on another country&#8217;s elections, high-ranking foreign officials have maintained ties with Trump and his national security team.
As reported <a href="https://thehill.com/policy/international/4746984-trump-debate-world-leaders-prepare/">by</a> The Hill, meetings between Trump and key figures such as British Foreign Secretary David Cameron, Polish President Andrzej Duda, and outgoing NATO Secretary-General Jens Stoltenberg, suggest a deliberate effort to sustain relationships.
Concurrently, Asian allies are strengthening ties with each other and Europe to counter Trump&#8217;s threats to abandon security commitments. 
Also Read: <a href="https://www.benzinga.com/news/24/06/39563725/biden-widely-criticized-over-debate-performance-but-poll-also-points-to-concerning-signs-for-trump">Biden Widely Criticized Over Debate Performance, But Poll Also Points To Concerning Signs For Trump</a>
Despite the unease over a second Trump administration, diplomats are drawing on their previous successes with Trump as a blueprint for potential future interactions. 
As NATO prepares to assume America&#8217;s leading role in supporting Ukraine, European and Asian leaders are setting the stage for continued engagement with Trump&#8217;s team. 
Why It Matters: The international community&#8217;s preparation for a potential second Trump administration underscores the global impact of U.S. presidential elections. 
This highlights the importance of maintaining diplomatic relationships, regardless of changing political landscapes. 
The actions of global leaders indicate a readiness to adapt to potential shifts in U.S. foreign policy, demonstrating the interconnectedness of global politics and the significance of U.S. leadership on the world stage.
Now Read: <a href="https://www.benzinga.com/news/24/06/39243266/ex-colleagues-of-judge-in-donald-trumps-hush-money-case-say-former-president-will-most-likely-face-t">Ex-Colleagues Of Judge In Donald Trump&#8217;s Hush-Money Case Say Former President Will Most Likely Face This Sentence</a>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Politics

As Trump Prepares For Comeback, Latest Pew Poll Reveals Which Presidential Candidate Rest Of World Prefers

Nikki Haley, the former GOP presidential primary candidate, has urged ex-President <a href="https://www.benzinga.com/news/24/06/39563725/biden-widely-criticized-over-debate-performance-but-poll-also-points-to-concerning-signs-for-trump">Donald Trump to prepare for a younger Democratic rival. </a>
What Happened: The advice came in the wake of President Joe Biden&#8216;s debate performance, which raised eyebrows among his party members. 
"They are going to be smart about it: they're going to bring somebody younger, they're going to bring somebody vibrant, they're going to bring somebody tested," Haley <a href="https://www.wsj.com/politics/elections/haley-warns-trump-to-prepare-for-younger-rival-renews-call-for-cognitive-tests-5c6d7294">told</a> the Wall Street Journal in an interview published on Saturday. 
"This is a time for Republicans to prepare and get ready for what's to come because there is no way that there will be a surviving Democratic party if they allow Joe Biden to continue to be the candidate," she added.
Haley, who viewed the debate from her home in South Carolina, said she quickly deduced that Biden was facing serious challenges. 
&#8220;What we saw was that Trump was strong, but I don't even think that mattered because Biden was so amazingly unfit,&#8221; Haley stated, according to the outlet.
Also Read: <a href="https://www.benzinga.com/news/24/06/39565047/outside-last-weeks-debate-trump-gained-momentum-with-two-major-developments-for-better-or-worse">Outside Last Week&#8217;s Debate, Trump Gained Momentum With Two Major Supreme Court Developments — For Better Or Worse</a>
During the debate, Biden&#8217;s voice was noticeably hoarse and he seemed to struggle with his words. This caused unease among his party members, including those who had previously worked with ex-President Barack Obama. 
Jon Favreau, a former speechwriter for the Obama administration and co-host of "Pod Save America," voiced his concerns about the debate on a social platform.
Why It Matters: Haley&#8217;s advice to Trump indicates a shift in the political landscape, with the possibility of a younger candidate emerging as a strong contender. 
Biden&#8217;s debate performance has sparked concerns about his ability to effectively lead and communicate his policies. This could potentially open the door for a younger, more dynamic candidate to step into the political arena.
However, Biden&#8217;s team remains steadfast in their support for him, dismissing any suggestions of him stepping down. This highlights the ongoing tension within the political sphere, with the future of the Democratic nomination still uncertain.
Now Read: <a href="https://www.benzinga.com/news/24/06/39563864/these-are-the-top-democratic-contenders-who-could-succeed-biden-if-president-were-to-bow-out-of">These Are The Top Democratic Contenders Who Could Succeed Biden If President Were To Bow Out Of</a>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Haley Advises Trump To Prepare For Younger Rival In Light Of Biden's Debate: 'They're Going To Bring Somebody Younger'

Warren Buffett, the fast-food enthusiast and CEO of Berkshire Hathaway Inc., embarked on a unique culinary journey during his 17-day trip to China in 1995, courtesy of his close friends, Bill Gates and Melinda Gates.
What Happened: The Gateses ensured that Buffett&#8217;s dietary preferences were well catered to during the trip. They coordinated with the tour company to instruct hotel chefs on how to prepare Buffett&#8217;s favorite meal: burgers and fries.
Buffett, known for his unconventional diet that includes McDonald&#8217;s for breakfast, See&#8217;s Candies, Dairy Queen ice cream, and five cans of Coke daily, found his trip to China a significant deviation from his usual eating habits, <a href="https://www.businessinsider.com/warren-buffett-bill-gates-china-burgers-fries-coke-mcdonalds-diet-2024-6">according</a> to Business Insider.
In her biography of Buffett, &#8220;The Snowball: Warren Buffett and the Business of Life,&#8221; author Alice Schroeder writes, &#8220;To his delight he was served course after course of his French fries — even for dessert.&#8221;
According to Schroeder, before leaving for China, the Gateses asked Buffett to fill out a questionnaire detailing his food preferences. Remembering a challenging 15-course sushi meal in 1989 where he ate nothing, Buffett cautiously responded, &#8220;I don&#8217;t eat any Chinese food. If necessary, serve me rice and I&#8217;ll just move it around on my plate, and I&#8217;ll go back to my room afterward and eat peanuts.&#8221;
Also Read: <a href="https://www.benzinga.com/news/24/01/36815518/this-is-how-much-warren-buffetts-company-missed-out-on-by-dumping-costco-stock-in-2020">This Is How Much Warren Buffett&#8217;s Company Missed Out On By Dumping Costco Stock In 2020</a>
&#8220;Waiters placed course after course on the rotating platters: tea-smoked duck, twice-cooked pork with chili sauce, spicy chicken, and Sichuan hot pot,&#8221; Schroeder wrote in the book.
Buffett&#8217;s culinary adventure in China also included burgers and fries at restaurants during sightseeing. On reaching the Great Wall on the third day, Buffett was greeted with Cherry Coke, while the rest of the party enjoyed Champagne.
At the conclusion of the tour, Schroeder notes, &#8220;Buffett towed the Gateses straight to McDonald&#8217;s to buy hamburgers in the middle of the night.&#8221;
Why It Matters: This anecdote highlights the lengths to which the Gateses went to ensure Buffett&#8217;s comfort during the trip. It also underscores Buffett&#8217;s well-known love for fast food, which is an integral part of his daily routine. 
This trip was a significant departure from his usual dietary habits, but it seems that with the help of his friends, Buffett was able to enjoy his favorite meals even in another country.
Now Read: <a href="https://www.benzinga.com/news/23/03/31512478/warren-buffetts-success-mantra-the-amount-you-are-loved-is-the-ultimate-measure-of-success-in-life">Warren Buffett&#8217;s Success Mantra: &#8216;The Amount You Are Loved Is The Ultimate Measure Of Success In Life&#8217;</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Warren Buffett Went To China With Bill Gates Once — And Didn't Eat Chinese Food

Joe Biden&#8217;s dismal performance against Donald Trump at the first debate has <a href="https://www.benzinga.com/markets/equities/24/06/39563622/is-kamala-harris-the-answer-to-joe-bidens-shortcomings-poll-hints-at-voter-sentiment-toward-poss">stirred talks of the president being replaced as the Democratic party&#8217;s candidate</a>. A new flash poll assessed debate viewership and voter opinions on the debate&#8217;s outcome.
Biden Vs. Trump &#8211; Approval Rating: Merely 32% of the respondents who watched or read about the debate approved Biden&#8217;s performance, Data for Progress&#8217; flash poll <a href="https://www.filesforprogress.org/datasets/2024/6/dfp_post_first_presidential_debate.pdf">showed.</a> The percentage was a steeper 63% among Democrats.
The June 28 survey contacted 1,011 likely voters nationwide. The margin of error associated with the sample size is ±3 percentage points.
On the other hand, 51% of likely voters who watched or read about the debate approved of Trump&#8217;s performance.
The net approval rating for Biden was a negative 50 points among independents compared to a negative 5 points for Trump. Among Republicans, the net approval ratings for Biden and Trump were at -85 points and +84 points, respectively.
See Also: <a href="https://www.benzinga.com/news/24/06/39565205/trumps-niece-says-ex-president-had-apocalyptically-disastrous-debate-deserves-no-praise-for-lying-fo">Trump&#8217;s Niece Says Ex-President Had &#8216;Apocalyptically Disastrous&#8217; Debate: &#8216;Deserves No Praise For Lying Forcefully Or Denigrating America&#8217;</a>
Biden Vs. Trump: The Winner Is&#8230; The percentage of likely voters who said Biden won the debate was a more modest 30%, while 62% said Trump came out on top. Eight percent said they did not know. Ninety-five percent of Republicans and 68% of independents said the former president won the debate, while only 27% of Democrats named Trump as the winner. Sixty-one percent of Democrats picked Biden as the winner.
Biden&#8217;s Age A Pushback? Sixty-seven percent of voters said Biden was too old to be president, while 35% said the same about Trump. The pollster noted that the percentage of likely voters who said Biden was old was almost similar to the responses received before and after his State of the Union address.
Following the debate, 53% of voters said they were more concerned about Biden's age and physical and mental health, up three points from an earlier survey done in late April, while a more modest 42% said they were more concerned about Trump's criminal charges and threats to democracy.
Alternatives To Biden? In a two-way matchup between Biden and Trump, the latter edged out the former by a 48%-45% margin. While Trump&#8217;s vote share remained relatively stable, the number of respondents who answered &#8220;don&#8217;t know&#8221; grew.
The survey also asked voters about hypothetical matchups between Trump and Vice President Kamala Harris, Michigan Governor Gretchen Whitmer, Pennsylvania Governor Joshua Shapiro, California Governor Gavin Newsom, Illinois Governor Jay Pritzker, Secretary of Transportation Pete Buttigieg, Sen. Amy Klobuchar (D-Minn.), and Sen. Cory Booker (D-N.J.)
Harris performed the same as Biden in a head-to-head matchup against Trump, and no other alternative candidate performed significantly better than Biden against Trump in a head-to-head race.
When asked who should replace Biden as the Democratic nominee if he were to drop out, Harris received 39% of the votes, followed by Newsom with 18% and Buttigieg with 10%.
Read Next: <a href="https://www.benzinga.com/money/how-to-invest-in-startups">How To Invest In Startups</a>
Photo: Shutterstock

Biden Vs. Trump Race Sees President Trailing After Thursday's Debate. Do Any Of Democratic Alternatives Stand A Chance Against Ex-President?

These ten large-cap stocks were the worst performers in the last week. Are they in your portfolio?
<ol></ol>
<ol>
<li>Walgreens Boots Alliance, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>) shares tumbled 24.12% after the company reported mixed Q3 earnings and lowered 2024 guidance <a href="https://www.benzinga.com//node/39523397" target="_blank" rel="noreferrer noopener">below consensus estimates</a>. Analysts cut the price <a href="https://www.benzinga.com/quote/wba/analyst-ratings" target="_blank" rel="noreferrer noopener">forecasts on the stock</a>.</li>
<li>Floor &amp; Decor Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FND#NYSE">FND</a>) shares lost 13.41%, possibly in reaction to worse-than-expected May Pending Home Sales economic data.  </li>
<li>Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) shares fell 11.76% after the company&#8217;s RSV vaccine <a href="https://www.benzinga.com//node/39508239" target="_blank" rel="noreferrer noopener">showed 50% efficacy</a>.</li>
<li>Birkenstock Holding Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BIRK#NYSE">BIRK</a>) stock declined 10.86% after the company announced an offering of up to 14 million ordinary <a href="https://www.benzinga.com//node/39467369" target="_blank" rel="noreferrer noopener">shares by a selling shareholder</a>.</li>
<li>BeiGene, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BGNE#NASDAQ">BGNE</a>) shares went down by 9.70% in the last week.</li>
<li>Pool Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POOL#NASDAQ">POOL</a>) stock fell 9.19% after the company after the company <a href="https://www.benzinga.com//node/39484866" target="_blank" rel="noreferrer noopener">cut its FY24 EPS guidance</a>.</li>
<li>JD.Com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) stock fell 8.89% after the U.S. unveiled rules to curb <a href="https://www.benzinga.com//node/39521291" target="_blank" rel="noreferrer noopener">investments in Chinese technology</a>.</li>
<li>Ecopetrol (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EC#NYSE">EC</a>) stock dived 8.02%</li>
<li>International Paper Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IP#NYSE">IP</a>) shares declined 7.98% after Suzano SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUZ#NYSE">SUZ</a>) said it would not pursue the <a href="https://www.benzinga.com//node/39519611" target="_blank" rel="noreferrer noopener">acquisition transaction</a>.</li>
<li>Micron Technology Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) stock lost 7.62% last week following <a href="https://www.benzinga.com//node/39520174" target="_blank" rel="noreferrer noopener">Q3 earnings and a Q4 outlook</a>.</li>
</ol>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/large-cap/24/06/39565519/rivian-automotive-and-carvana-were-among-the-10-biggest-large-cap-gainers-last-week-june-23-june-2">Rivian Automotive And Carvana Were Among The 10 Biggest Large Cap Gainers Last Week (June 23-June 29): Are These In Your Portfolio?</a></li>
</ul>
Photo by Lutsenko_Oleksandr on Shutterstock

APTV

BGNE

BIRK

MRNA

POOL

Moderna And Walgreens Boots Alliance Were Among The 10 Biggest Large Cap Losers Last Week (June 23 - June 29): Are These In Your Portfolio?

In the ongoing battle over Florida&#8217;s constitutional amendments to <a href="https://www.benzinga.com/markets/cannabis/24/04/38034138/florida-supreme-court-approves-cannabis-legalization-proposal-for-november-election-in-blow-to-d" target="_blank" rel="noreferrer noopener">legalize recreational marijuana</a> and access to abortion, Governor <a href="https://www.benzinga.com/topic/ron-desantis">Ron DeSantis</a> is facing a huge fundraising disadvantage. His <a href="https://www.benzinga.com/markets/cannabis/24/06/39279951/desantis-new-freedom-fund-has-2-stated-goals-defeat-cannabis-legalization-and-abortion-amendment">recently created</a> Florida Freedom Fund, with the stated goal of defeating these two amendments has raised a meager $10,000 — an amount that pales in comparison to the millions amassed by proponents of the <a href="https://www.benzinga.com/markets/cannabis/24/04/38034138/florida-supreme-court-approves-cannabis-legalization-proposal-for-november-election-in-blow-to-d">cannabis amendment</a>.  
<a href="https://www.benzinga.com/markets/cannabis/24/04/38313915/cannabis-in-florida-the-bellamy-brothers-tell-trulieve-ceo-we-rolled-a-fat-one-when-legalization" target="_blank" rel="noreferrer noopener">Smart &amp; Safe Florida</a>, the committee leading the initiative, which is the best-funded cannabis legalization amendment in American history, reported it had has raised over <a href="https://www.benzinga.com/markets/cannabis/24/06/39455304/desantis-fierce-opposition-notwithstanding-floridas-cannabis-legalization-amendment-shatters-all">$60 million</a>, according to June 10 campaign filings. DeSantis' Freedom Fund reported having raised $10,000 in the five weeks of fundraising activity ending June 21, <a href="https://floridapolitics.com/archives/682069-ron-desantis-florida-freedom-fund-off-to-slow-fundraising-start/">according</a> to Florida Politics. Both amendments will be decided in the <a href="https://www.benzinga.com/topic/2024-election">November 2024 elections</a>. Florida-based <a href="https://www.benzinga.com/markets/cannabis/23/10/35206042/trulieve-donates-500k-to-floridas-marijuana-legalization-ballot-initiative">Trulieve</a> (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTCQX">TCNNF</a>) has reportedly spent more than $40 million to get the measure on the ballot.
As part of DeSantis&#8217; criticism of the cannabis legalization initiative, known as Amendment 3, he has called legal marijuana a gateway to turning Florida into cities like San Francisco or Chicago, reeking of weed smoke with people consuming wherever and whenever they choose. He <a href="https://www.benzinga.com/markets/cannabis/24/06/39311053/desantis-blasts-cannabis-legalization-amendment-says-people-will-be-able-to-bring-20-joints-to-a">said</a> at a mid-June press event that, if legalized in Florida, people will &#8220;be able to bring what, 20 joints to an elementary school.&#8221;
"We are working with a lot of stakeholders who are interested in making sure that we defeat Amendment 3, which would basically do marijuana, wherever you want, just smoke it, take it. And it would turn Florida into San Francisco, or Chicago, or some of these places," DeSantis <a href="https://www.benzinga.com/markets/cannabis/24/06/39492507/desantis-says-cannabis-legalization-amendment-will-protect-weed-rights-better-than-1st-2nd-amend">said</a>. "We already have medical marijuana, it's out there. But we got to keep our streets clean, we cannot have every town smelling like marijuana."
This is despite a recent&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/06/39261393/trump-holds-4-point-edge-over-biden-in-florida-rematch-can-cannabis-tilt-the-scale-as-majority-s" target="_blank" rel="noreferrer noopener">Fox News poll</a>&nbsp;showing that 69% of Floridians support the abortion-access initiative and 66% favor legalizing adult-use cannabis.
Related: <a href="https://www.benzinga.com/markets/cannabis/24/06/39492507/desantis-says-cannabis-legalization-amendment-will-protect-weed-rights-better-than-1st-2nd-amend">DeSantis Says Cannabis Legalization Amendment Will Protect Weed Rights Better Than 1st, 2nd Amendments Protect Free Speech, Gun Rights</a>
<h2 class="wp-block-heading">Speaking Of Money</h2>
At a&nbsp;roundtable in mid-June, <a href="https://www.benzinga.com/markets/cannabis/24/06/39346531/desantis-cant-get-past-the-odor-of-weed-to-smell-the-flowers-specifically-430m-annually-in-canna">Safe &amp; Smart quoted economists</a> who estimate that legalizing marijuana could generate between $195 million and $431 million annually in sales tax revenue, providing a significant boost to the state's economy. Florida is not unique either. Other legal&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/05/38712820/legal-cannabis-states-raked-in-20b-since-2014-peaking-at-4b-in-2023-new-report-shows" target="_blank" rel="noreferrer noopener">weed states are doing it</a>&nbsp;to the tune of&nbsp;$20 billion in tax revenue.
Photo: Shutterstock

Cannabis

Government

Regulations

TCNNF

DeSantis' Anti-Cannabis 'Florida Freedom Fund' Raises Barely A Fraction Of Legalization Committee's $60M

In a tweet on Sunday, Tesla CEO Elon Musk expressed criticism over the Democratic Party&#8217;s continued support for President Joe Biden, <a href="https://www.benzinga.com/news/24/06/39563864/these-are-the-top-democratic-contenders-who-could-succeed-biden-if-president-were-to-bow-out-of">likening him to a &#8220;pincushion.&#8221;</a>
What Happened: On Sunday, Musk took to social media platform X to share his thoughts on the current presidential race.
He retweeted a post by The New Yorker, which contained a link to an article by the publication&#8217;s editor, David Remnick, criticizing Biden&#8217;s insistence on remaining the Democratic candidate.
Musk added his own commentary, stating, &#8220;Even Remnick is knifing Biden! There are so many Dem knives in Biden's back right now, he's basically a pincushion.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Even Remnick is knifing Biden! There are so many Dem knives in Biden's back right now, he's basically a pincushion.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1807341009161908408?ref_src=twsrc%5Etfw">June 30, 2024</a></blockquote>
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The tweet came amidst growing criticism of Biden within his own party, with Musk&#8217;s comments highlighting the increasing dissent.
Also Read: <a href="https://www.benzinga.com/news/24/06/39565047/outside-last-weeks-debate-trump-gained-momentum-with-two-major-developments-for-better-or-worse">Outside Last Week&#8217;s Debate, Trump Gained Momentum With Two Major Supreme Court Developments — For Better Or Worse</a>
The billionaire entrepreneur also shared his thoughts on a tweet by Tucker Carlson about the president. Carlson&#8217;s tweet, which featured a video of him addressing an audience and was posted on Saturday, touched on the president&#8217;s perceived dementia &#8220;as seen from 10,000 miles away.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Makes a good point about democracy <a href="https://t.co/qQ23BhgVjj">https://t.co/qQ23BhgVjj</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1807342765795156100?ref_src=twsrc%5Etfw">June 30, 2024</a></blockquote>
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Musk responded to Carlson by stating that the video &#8220;makes a good point about democracy.&#8221; 
Why It Matters: Musk&#8217;s tweet underscores the growing divide within the Democratic party over Biden&#8217;s leadership. The Tesla CEO&#8217;s comments reflect the sentiments of many within the party who believe that Biden&#8217;s continued candidacy could be detrimental to the party&#8217;s chances in the upcoming elections.
Furthermore, Musk&#8217;s criticism of Biden could potentially influence public opinion and further intensify the ongoing debate within the party.
Now Read: <a href="https://www.benzinga.com/news/24/06/39563725/biden-widely-criticized-over-debate-performance-but-poll-also-points-to-concerning-signs-for-trump">Biden Widely Criticized Over Debate Performance, But Poll Also Points To Concerning Signs For Trump</a>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Elon Musk Calls Out New Yorker Piece Criticizing Joe Biden: 'So Many Dem Knives In Biden's Back Right Now, He's Basically A Pincushion'

In the aftermath of the recent presidential debate, former President Donald Trump declared himself the victor while also criticizing <a href="https://www.benzinga.com/news/24/06/39124499/following-trumps-guilty-verdict-legal-experts-say-he-could-face-this-punishment-instead-of-prison-ti">President Joe Biden&#8216;s performance.</a>
What Happened: Trump took to his Truth Social platform on Saturday, proclaiming his debate performance as the &#8220;greatest in the long and storied history of Presidential Debates.&#8221;
In the <a href="https://truthsocial.com/@realDonaldTrump/posts/112699808723090795">post</a>, he expressed disappointment that the spotlight had shifted to Biden&#8217;s lackluster performance rather than his own triumph.
"As I walked off the stage on Thursday night, at the end of the highly anticipated &#8216;Debate,&#8217; anchors, political reporters and all screamed that I had had the greatest debate performance in the long and storied history of Presidential Debates," Trump posted. "They all said, effectively, &#8216;Trump was fantastic!&#8217;"
"But by Friday evening it was all about the poor performance of Crooked Joe, and not so much about how well I did. Oh well, that's the way it is but, importantly, the result is the same!!!"
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/06/39563576/following-debate-latest-poll-among-democrats-signals-major-trouble-for-joe-biden-although-theres-one" target="_blank" rel="noreferrer noopener">Following Debate, Latest Poll Among Democrats Signals Major Trouble For Joe Biden — Although There's One Silver Lining</a>
At a Virginia rally on Friday, Trump lambasted Biden, dubbing him a &#8220;stupid, stupid, stupid man.&#8221; Despite Biden securing his preferred network and debate rules, Trump asserted that &#8220;no amount of rest or rigging&#8221; could aid him on stage.
Biden&#8217;s performance, characterized by blank stares, stumbling over words, and a lack of energy, has raised concerns among Democrats. Calls for Biden to step aside have spread across both parties, but the White House and Biden&#8217;s campaigns have resisted these requests.
Why It Matters: Trump&#8217;s declaration of victory comes on the heels of a series of political successes. Despite facing criticism for his own debate performance, Trump capitalized on Biden's apparent memory lapses and strained voice, which have raised concerns <a href="https://www.benzinga.com/news/24/06/39565047/outside-last-weeks-debate-trump-gained-momentum-with-two-major-developments-for-better-or-worse">about the 81-year-old president's health</a>. 
Trump's sharp retorts during the debate have caused unease among Democrats.
Christian Grose, a professor of political science and public policy at the University of Southern California, stated, "Trump is benefiting only in the sense that Biden did not benefit."
Now Read: <a href="https://www.benzinga.com/news/24/06/39563725/biden-widely-criticized-over-debate-performance-but-poll-also-points-to-concerning-signs-for-trump">Biden Widely Criticized Over Debate Performance, But Poll Also Points To Concerning Signs For Trump</a>
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.

Trump Laments Lack Of Attention Paid To 'The Greatest Debate Performance' He Gave: 'It's All About The Poor Performance Of Crooked Joe, And Not So Much About How Well I Did'

Wild Forest, a web3 real-time strategy game, has taken the gaming world by storm. In an exclusive interview, Artem Naseniuk, lead developer at Zillion Whales, shared insights about the game&#39;s development, unique features, and future plans.
<h3>A Vision for Innovation</h3>
Artem Naseniuk explained that Wild Forest began as a web2 game, inspired by the team&rsquo;s passion for strategy games like &quot;Warcraft 3.&quot;
&quot;Our team are big fans of strategy games, and we&#39;ve been building them since 2013,&quot; Naseniuk said.
However, the team saw the potential for greater innovation within the web3 space, prompting the transition.
<h3>Transition to Web3 and Ronin Network</h3>
The decision to move to blockchain was influenced by the stagnation in the web2 gaming market.
&quot;The top charts don&#39;t change much, and it became more like marketing budgets dominating the scene,&quot; Naseniuk noted. Wild Forest chose the Ronin&nbsp;network (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">RON</a>) for its technical sophistication and supportive community.
&quot;Ronin is beautifully done, technically sophisticated, and probably one of the best from a technological standpoint,&quot; Naseniuk said.
dditionally, the Ronin community stood out for its support and connectivity.
&quot;They are very supportive, and it&#39;s a pure pleasure to interact with them. We do a lot of Community Driven development with them,&quot; he added.
<h3>The Power of NFTs</h3>
Recently, Wild Forest released a powerful NFT collection called the Lords, which sold $1 million worth of NFTs in under one minute.
&quot;We didn&#39;t expect it to sell out in 25 seconds,&quot; Naseniuk admitted.
The NFT collection of the Lords provides early adopters with multiple benefits and forms a core part of the game&#39;s community and lore. The community response was overwhelming, leading to an additional million dollars in secondary market trading within days.
&quot;The community is super active, and we still occupy the top charts in the market,&quot; Naseniuk said.
<h3>Community Engagement</h3>
Building a strong community is a central part of Wild Forest&rsquo;s strategy. Naseniuk emphasized the importance of creating a great user experience and involving the community in development.
&quot;Most of our marketing activities are organic. We didn&#39;t spend any money on marketing to this day,&quot; he said.
This organic growth is a testament to the game&rsquo;s quality and the dedication of its community. The company focuses on creating systems that are beneficial and easy to use for content creators and gamers alike, ensuring a supportive and engaged community.
<h3>Future Plans and Token Launch</h3>
Wild Forest&rsquo;s economy is designed around a token, which will play a crucial role in the game&#39;s ecosystem.
&quot;Our token is the core element of the gameplay,&quot; Naseniuk explained.
The game&rsquo;s official launch on July 1&nbsp;will introduce game units as NFTs, and a token release is planned for the future.
&quot;Players need to invest in the game to yield rewards, and the more they invest, the more rewards they get,&quot; Naseniuk noted. This model aims to eliminate extractor behavior by encouraging players to reinvest their time or money into the ecosystem, creating a balanced economy.
&quot;We hope to build a sustainable model and become one of the first to succeed in this area,&quot; he added.
<h3>Upcoming Announcements</h3>
Naseniuk shared an exciting upcoming campaign: &quot;We&#39;re launching a Plato drop season, which will last four weeks, giving away two and a half percent of our total tokens.&quot;
This campaign aims to onboard more players and further integrate the community into the game&rsquo;s ecosystem. Additionally, players will have the opportunity to trade game units as NFTs, allowing them to earn benefits and share the experience of a great game.
&quot;We expect to see at least 100,000 participants in this season,&quot; Naseniuk said, highlighting the anticipated growth and engagement of the community.
<h3>Closing Remarks</h3>
Naseniuk concluded with a message to the community: &quot;We have a lot of things they will definitely like, and we would love to welcome all players.&quot;
With a focus on innovation, community, and player ownership, Wild Forest is set to redefine the landscape of web3 gaming.
Image courtesy of Wild Forest

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Cryptocurrency

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$RON

Exclusive: This Web3 Game Sold $1M In NFTs Under 1 Minute

A report from Goldman Sachs has raised doubts about the potential return on investments in artificial intelligence (AI) by tech companies.
What Happened: According to the report, companies are projected to invest over $1 trillion in AI. However, Goldman Sachs&#8217; report expresses apprehension about the returns on this colossal investment.
The <a href="https://www.goldmansachs.com/intelligence/pages/gs-research/gen-ai-too-much-spend-too-little-benefit/report.pdf">report</a> underscores the high costs associated with AI technology, including data centers, power grids, and AI chips, and questions whether these costs can be justified by the returns.
&#8220;AI technology is exceptionally expensive, and to justify those costs, the technology must be able to solve complex problems, which it isn&#8217;t designed to do,&#8221; Jim Covello, the head of global equity research at Goldman Sachs, said in the report.
Covello also criticized the tech industry&#8217;s assumption that AI costs will significantly decline over time. He mentioned Google&#8217;s decision to reduce its AI usage in search after its bot began making strange suggestions as an example.
&#8220;The starting point for costs is also so high that even if costs decline, they would have to do so dramatically to make automating tasks with AI affordable,&#8221; Covello added. &#8220;In our experience, even basic summarization tasks often yield illegible and nonsensical results.&#8221;
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/06/39432776/nvidia-ceo-jensen-huang-recalls-billions-of-dollars-of-investments-in-deep-learning-and-the-philosop?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia CEO Jensen Huang Recalls Billions Of Dollars Of Investments In Deep Learning</a>
Despite Covello&#8217;s skepticism, other experts quoted in the report were more optimistic. 
&#8220;The technology&#8217;s cost equation will change, just as it always has in the past,&#8221; said Kash Rangan, a senior equity research analyst at Goldman Sachs. 
Eric Sheridan, another senior analyst with the firm, compared the initial reactions to AI with those to the iPhone and Uber, predicting a similar acceptance over time.
&#8220;People didn&#8217;t think they needed smartphones, Uber, or Airbnb before they existed. But today it seems unthinkable that people ever resisted such technological progress. And that will almost certainly prove true for generative AI technology as well,&#8221; Sheridan said.
Why It Matters: The concerns raised by Goldman Sachs come at a time when tech companies are aggressively pursuing AI advancements. 
For instance, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly in talks with Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) to integrate Meta's generative AI model into Apple's new AI system, Apple Intelligence. This move is part of Apple&#8217;s broader <a href="https://www.benzinga.com/news/24/06/39447797/apple-eyes-meta-for-potentially-game-changing-ai-partnership-report">strategy to catch up in the AI race</a>.
Apple, a late entrant to the generative AI field, has developed its own smaller AI models. However, for more complex or specific tasks, it is seeking partnerships with other companies. 
The company&#8217;s focus on AI underscores the importance of this technology, despite the concerns raised by Goldman Sachs.
Now Read: <a href="https://www.benzinga.com/news/24/05/39020980/elon-musk-reveals-the-biggest-benefit-of-ai-replacing-human-jobs-in-a-benign-scenario">Elon Musk Reveals The Biggest Benefit Of AI Replacing Human Jobs: &#8216;In A Benign Scenario &#8230;&#8217;</a>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Tech

Goldman Sachs Casts Doubt On 'Exceptionally Expensive' AI Investments By Tech Companies

At the recent 30/50 Summit in Abu Dhabi, <a href="https://www.benzinga.com/personal-finance/24/06/39362361/suze-orman-tells-caller-investing-500-per-month-from-early-social-security-would-be-the-most-rid">Suze Orman</a> sat down with Mika from MSNBC to discuss the current state of the U.S. economy and the financial worries that keep her up at night. Their conversation highlighted the stark contrast between the overall economy&#8217;s health and many individuals&#8217; financial struggles.
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When Mika asked Orman about her concerns regarding the economy at the beginning of the year and now, Orman's response was candid. &#8220;I&#8217;m always concerned about those that don&#8217;t have money,&#8221; she said. Despite reports that inflation has calmed down, she emphasized that many people still struggle to afford basic necessities. "The rents people are paying, the prices they're paying for real estate, their homes, that concerns me."
Orman acknowledged that, on the surface, the economy appears to be doing well. &#8220;It seems like we're doing alright. It seems unemployment's alright, the markets are over the top great, and it's kind of settled in,&#8221; she noted. However, she stressed that this positive outlook on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39420979/us-economy-in-state-of-unstable-equilibrium-study-finds">overall economy</a> doesn&#8217;t reflect the reality for many individuals.
Mika pointed out the seeming contradiction in economic indicators. "Leading indicators look good. But it is expensive at the grocery store and hard to get a home."
Orman agreed, highlighting the distinction between the overall economy and individual financial situations. "On an individual level, I think people are not doing okay. I do not. Over 50% of the people in the United States don't have $400 for an emergency savings account," she said.
Trending: This Jeff Bezos-backed startup will allow you to<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> become a landlord in just 10 minutes, and you only need $100</a>.
Orman elaborated on the challenges faced by individuals. Without sufficient savings, unexpected expenses, like a car repair, often lead to increased debt. "They have to go and put it on a credit card and pay the minimum payment, and then the cycle of debt begins," she explained.
While the overall economic indicators might look promising, Orman believes they fail to capture the average person&#8217;s financial struggles. "When you look at people's individual situation, in my opinion, they're still struggling."
When asked about the economic concerns that keep her up at night, Orman pointed to geopolitical issues rather than domestic financial instability. "What keeps me up at night are the wars. What's happening in Israel, Gaza, Ukraine and Russia? We are now a global economy," she said. Orman explained that global conflicts have far-reaching effects on the economy, as resources are diverted to combat and defense, impacting global trade and economic stability.
Mika inquired whether these global worries should influence individual <a href="https://www.benzinga.com/money/what-is-financial-planning">financial planning</a>. Orman stressed the importance of staying informed. "I think they should absolutely be knowledgeable about it. And I think if you're just not worried because you don't want to know about it, now you're also asking for trouble on a personal level."
Suze Orman's insights at the 30/50 Summit underscore a critical message: While the macroeconomic indicators might paint a rosy picture, many individuals continue to face significant financial challenges. Her advice is clear — stay informed, be prepared, and understand that the economy&#8217;s overall health does not necessarily reflect the economic well-being of the average person.
Given these complexities, consulting a <a href="https://www.benzinga.com/money/best-online-financial-advisors">financial advisor</a> can be invaluable. A professional can provide personalized guidance, help you navigate economic uncertainties, and create a robust financial plan tailored to your needs. As we navigate these uncertain times, taking proactive steps with the help of an expert can make a significant difference in achieving financial stability and peace of mind.
Read Next:
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<li>How much money will a $200,000 annuity pay out each month?<a href="https://www.benzinga.com/money/200k-annuities-adv"> The numbers may shock you.</a></li>
<li>Warren Buffett flipped his neighbor's $67,000 life savings into a $50 million fortune —<a href="https://www.benzinga.com/money/advisor-adv-warren-buffett"> How much is that worth today?</a></li>
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Personal Finance

Suze Orman Breaks On The Overall Economy Vs An Individual Economy — Says 'On An Individual Level, I Don't Think People Are Doing OK'

Paul Krugman, an authority in economics and Noble Prize winner, commented on Friday&#8217;s<a href="https://www.benzinga.com/economics/macro-economic-events/24/06/39547288/feds-preferred-inflation-gauge-falls-to-lowest-level-since-november-2021-relieves"> inflation data that showed a further easing in pricing pressure, </a>prompting an increase in the odds of rate cuts.
Inflation War Won? &#8220;Inflation looks beaten,&#8221; said Krugman in a post on X, formerly Twitter. The Bureau of Economic Analysis&#8217; personal income and spending report released on Friday showed that the annual rate of the personal consumption expenditure index (PCEI) came in 2.6%, marking the lowest level since March 2021. The metric is considered the Fed&#8217;s favorite inflation gauge.
Sharing a chart of the annual rates of PCEI and the core PCEI, Krugman said, &#8220;The blip a few months ago looks like start-of-year price resets, and what's left is lagged housing costs.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">In other news, inflation looks beaten. The blip a few months ago looks like start-of-year price resets, and what's left is lagged housing costs <a href="https://t.co/OsBPCPC2vo">pic.twitter.com/OsBPCPC2vo</a>
&mdash; Paul Krugman (@paulkrugman) <a href="https://twitter.com/paulkrugman/status/1806724684584550764?ref_src=twsrc%5Etfw">June 28, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/money/best-inflation-stocks">Best Inflation Stocks</a>
Why It&#8217;s Important: Consumer price inflation rose to a high of 9%+ in the summer of 2022 and has been trending broadly downward. The CPI, which was at 3.1% at the start of this year, jumped slightly to 3.5% in March and fell to 3.4% in April. Krugman attributed the spike seen earlier this year to &#8220;start-of-year price resets.&#8221;
One significant factor keeping the CPI inflation above the Federal Reserve&#8217;s 2% threshold is shelter costs. Home prices are not included in inflation calculations because they are considered an investment by the Bureau of Labor Statistics. However, the CPI does include rents and &#8220;owners&#8217; equivalent rents,&#8221; which estimate the amount a homeowner might charge if they rented out their own home.
Shelter costs accounts for 30-40% of the CPI.
The BLS collects data for calculating the CPI every month, but the rent included is the amount negotiated at the start of the lease, which may have been set well before that particular month. Therefore, economists often regard this number as a lagging indicator.
The inflation number is particularly important, as the Federal Reserve has maintained the Fed funds rate at a 22-year high. A reduction in interest rates could kickstart growth and have a cyclical effect on the economy.
For the stock market, which is rallying due to a sharp spike in shares of select stocks tied to artificial intelligence technology, a rate cut could mean additional gains. Lowering rates is seen as a positive for interest-rate-sensitive companies, potentially leading to a rise in stock prices and a broadening of the rally.
That said, inflation truthers such as Peter Schiff have warned that <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38840668/gold-bull-peter-schiff-says-inflation-headed-far-higher-as-powell-refuses-to-acknow">inflationary pressure will reignite in the near- to medium-term.</a>
The iShares TIPS Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TIP#NYSE">TIP</a>), an ETF tracking the investment results of an index composed of inflation-protected U.S. Treasury bonds, ended Friday&#8217;s session down 0.31% at $106.78, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a>
Read Next: <a href="https://www.benzinga.com/top-stories/24/06/39552559/inflation-data-shows-fed-policy-is-working-daly-says">Inflation Data Shows Fed Policy Is &#8216;Working&#8217;, Daly Says</a>
Photo: Shutterstock

Prominent Economist Paul Krugman Says 'Inflation Beaten,' Underlines This As Reason For Sticky Pricing Pressure

&ldquo;My journey into the world of cannabinoids began as a way to find some balance in the chaos of my life,&rdquo; says Travis Barker in an exclusive interview. Not only did Barker charge forward as the powerhouse behind the drums in Blink-182, but he also nurtured his relationship with cannabis along the way.
&ldquo;From the intense workouts in boxing and Muay Thai to touring and drumming with Blink-182, it&#39;s been a crazy ride,&rdquo; he continues. &ldquo;Cannabis, especially edibles, became my go-to for recovery and finding a peaceful state of mind.&rdquo;
As Barker aged and evolved within the ever-high-energy world of touring, his use of cannabis became more nuanced, as he started to use it to foster creativity and increase general well-being. &ldquo;Back in the day, it was about partying and having a good time, but it&#39;s evolved into not just getting high but having cannabis work for me functionally both mentally and physically to align with the lifestyle that I&rsquo;ve chosen,&rdquo; he elaborates. &ldquo;Today, my relationship with cannabis is much more sophisticated. It&#39;s about finding a balance that enhances creativity, promotes well-being and highlights positive vibes.&rdquo;
This journey is where Barker Canna Co., a business that started as a wellness venture and is now expanding into the cannabis space, &ldquo;seeking to bridge the gap of quality and affordability,&rdquo; comes into play, the musician explains. For him, it&rsquo;s all about sharing what he&rsquo;s &ldquo;learned and experienced with the world (quality, balance and good vibes) [about] sparking inspiration and self-expression.&rdquo; More on this, later on.
<h2>&lsquo;More Than You Know&rsquo;: Barker&rsquo;s Deep Connection With The Plant</h2>
In early 2023, after sustaining a serious injury to his finger, not once but twice, during tour rehearsals, Barker underwent surgery to address the issue. The procedure, crucial for his ability to continue playing drums, involved repairing a torn ligament in his finger. This medical intervention marked a turning point in his approach to pain management and recovery.
Barker&rsquo;s life experience made him a staunch advocate for cannabis legalization. &ldquo;It&#39;s time to have a real talk about cannabis,&rdquo; he voices. &ldquo;We must let go of outdated stigmas that have existed for too long. Cannabis leads to freedom, creative exploration and medical benefits, and it should not be looked upon as forbidden. We have come a long way in understanding the potential of cannabis, and it&#39;s about time our laws and research funding catch up. It&#39;s not about getting high, it&#39;s about finding relief.&rdquo;
<img alt="Travis Barker" src="https://imageio.forbes.com/specials-images/imageserve/65c26116a8d237d252c28779/Travis-Barker/960x0.jpg?format=jpg&amp;width=1440" style="height:450px; width:368px" />
<a href="https://elplanteo.com/travis-barker-blink-182/">Travis Barker</a>. DANIEL ROAJS
Addressing the &ldquo;racial disparities the War on Drugs has caused,&rdquo; the artist summons people to think about it in depth. &ldquo;It is time for the cannabis industry and society to acknowledge the impact and take steps to rectify these disparities,&rdquo; he declares.
The first thing we need to do, in his view, is create more opportunities to those most affected by the War on Drugs. &ldquo;We need to focus on fostering inclusivity and providing measures for education and employment within the cannabis industry. We also need to shift the narrative around cannabis. Instead of seeing it through the lens of harm, let us focus on its potential for good,&rdquo; he asserts.
And he adds: &ldquo;Let&#39;s open up the doors and create a space where people can make educated choices about cannabis, whether it&#39;s for medical reasons or to enhance their overall well-being.&rdquo;
As Barker maps out the future of cannabis legislation, he remains optimistic about its potential for societal change. &ldquo;I foresee a progressive shift in cannabis legislation globally,&quot; he anticipates, suggesting an impending federal legalization in the U.S. and increasing global acceptance.
His love of music also plays a part in this narrative. In fact, Barker believes that legalization &ldquo;will likely have a profound impact on the music industry.&rdquo; As he explains, cannabis has long been intertwined with musical creativity and inspiration. &ldquo;As legalization progresses, we anticipate more artists incorporating cannabis culture into their brands and projects, fostering a new era of collaboration and artistic expression.&rdquo;
And this rings true. Artists from Jay-Z,<a href="https://www.forbes.com/sites/javierhasse/2023/12/19/snoop-dogg-talks-new-cannabis-beverage-line-not-everyone-wants-to-smoke-or-vape-to-get-high-drinking-is-familiar/?sh=3362289c356f" target="_self" title="https://www.forbes.com/sites/javierhasse/2023/12/19/snoop-dogg-talks-new-cannabis-beverage-line-not-everyone-wants-to-smoke-or-vape-to-get-high-drinking-is-familiar/?sh=3362289c356f">&nbsp;Snoop Dogg</a>,<a href="https://www.forbes.com/sites/javierhasse/2023/04/11/rick-ross-reveals-his-new-cannabis-strain-it-makes-you-feel-good-relaxed-like-a-boss/" target="_self" title="https://www.forbes.com/sites/javierhasse/2023/04/11/rick-ross-reveals-his-new-cannabis-strain-it-makes-you-feel-good-relaxed-like-a-boss/">&nbsp;Rick Ross</a>&nbsp;and<a href="https://www.forbes.com/sites/javierhasse/2020/09/16/berner/?sh=62b28b03541d" target="_self" title="https://www.forbes.com/sites/javierhasse/2020/09/16/berner/?sh=62b28b03541d">&nbsp;Berner</a>, to<a href="https://elplanteo.com/carlos-santana-marihuana-espiritualidad-musica/" rel="nofollow noopener noreferrer" target="_blank" title="https://elplanteo.com/carlos-santana-marihuana-espiritualidad-musica/">&nbsp;Carlos Santana</a>, Willie Nelson and<a href="https://www.forbes.com/sites/javierhasse/2023/09/19/method-man-talks-weed-we-are-the-american-dream-from-getting-locked-up-to-being-a-proprietor/" target="_self" title="https://www.forbes.com/sites/javierhasse/2023/09/19/method-man-talks-weed-we-are-the-american-dream-from-getting-locked-up-to-being-a-proprietor/">&nbsp;Method Man</a>, have not only overtly supported legalization over the years, but have also launched weed brands of their own. And the same trend can be seen all over the world, as evidenced by these<a href="https://www.forbes.com/sites/javierhasse/2023/08/04/9-latin-musicians-with-their-own-cannabis-brands/" target="_self" title="https://www.forbes.com/sites/javierhasse/2023/08/04/9-latin-musicians-with-their-own-cannabis-brands/">&nbsp;9 Latinx musicians who have also released cannabis-related brands</a>.
<h3>Forget &lsquo;Dumpweed&rsquo;: The Inception Of Barker Canna Co.</h3>
Barker&rsquo;s evolution within the cannabis world mirrors that of the burgeoning U.S. market, which boasted&nbsp;<a href="https://www.grandviewresearch.com/industry-analysis/us-cannabis-market" rel="nofollow noopener noreferrer" target="_blank" title="https://www.grandviewresearch.com/industry-analysis/us-cannabis-market">estimated</a>&nbsp;sales of $13.2 billion in 2022 and $15.8 billion in 2023, generating an economic impact of<a href="https://mjbizdaily.com/cannabis-industry-will-add-100-billion-to-us-economy-in-2023" rel="nofollow noopener noreferrer" target="_blank" title="https://mjbizdaily.com/cannabis-industry-will-add-100-billion-to-us-economy-in-2023">&nbsp;more than $100 billion</a>&nbsp;per year. Barker&#39;s venture thus aligns with an industry at the forefront of reshaping societal perspectives on wellness, creativity and economic development.
<img alt="Barker Canna Co." src="https://imageio.forbes.com/specials-images/imageserve/65c26176add86e9b3033c1b0/Barker-Canna-Co-/960x0.png?format=png&amp;width=1440" style="height:450px; width:318px" />
Barker Canna Co. BARKER CANNA CO.
Drawing on his experiences in music, Barker sees parallels in his approach to the cannabis business. &ldquo;The world of music has taught me a lot about creativity, pushing boundaries and connecting with people,&rdquo; he says. This philosophy is evident in Barker Canna Co.&#39;s commitment to creating an experience that transcends the product, fostering a deep connection with the community.
&ldquo;The intersection of the rock music scene and cannabis culture is undeniable,&rdquo; he goes on. &ldquo;Both embody rebellion, creativity, and a sense of individuality. Barker Canna Co. embraces this synergy by creating products that reflect the free-spirited essence of the rock scene, offering a unique and authentic experience for cannabis enthusiasts who share our passion for music and self-expression.&rdquo;
In this sense, &ldquo;Barker Canna Co. is [meant for] adults looking for a mindful and balanced cannabis experience... For consumers [who] appreciate quality and are open to exploring the benefits of cannabis at a price point that is accessible to all.&rdquo;
Barker also discusses the innovative approaches Barker Canna Co. is taking with its product line. &ldquo;We&#39;re exploring unique formulations, delivery methods, and product experiences&hellip; promoting cannabis as a holistic tool for relaxation, creativity, and overall well-being,&rdquo; he states, underlining his commitment to elevating the cannabis experience.
<img alt="Barker Canna Co." src="https://imageio.forbes.com/specials-images/imageserve/65c2618eadd86e9b3033c1b2/Barker-Canna-Co-/960x0.png?format=png&amp;width=1440" style="height:450px; width:296px" />
Barker Canna Co. BARKER CANNA CO.
Over time, Barker plans to take the brand abroad, reaching an international audience through &ldquo;strategic partnerships and a phased approach.&rdquo; Collaborating with other musicians and exploring the &ldquo;potential to merge creative energies&rdquo; is not off the table either, he adds.
As he reflects on prior experiences, Barker explains how key learnings from other ventures, especially in the lifestyle and entertainment industry, &ldquo;have been instrumental in shaping Barker Canna Co.&rdquo; He emphasizes the importance of brand authenticity and connecting with consumers: &ldquo;Barker Canna Co. is built on a foundation of transparency and genuineness,&rdquo; he explains, highlighting his commitment to embodying personal values and ethics in his brand.
Barker Canna Co. is not just a brand launch for him; it represents Barker&#39;s participation in a cultural and societal shift, viewing cannabis as a medium for wellness, creativity and social change: &ldquo;We strive to connect with consumers on a personal level, aligning our values with theirs and fostering trust in the cannabis space.&rdquo;
<h3>It&rsquo;s About &lsquo;All The Small Things&rsquo;</h3>
As the conversation nears its end, Barker embarks on two final topics: the journey of cannabis entrepreneurs and his ideal weed partner.
<img alt="Travis Barker" src="https://imageio.forbes.com/specials-images/imageserve/65c261abb14cf9eb07cebe80/Travis-Barker/960x0.jpg?format=jpg&amp;width=1440" style="height:397px; width:624px" />
Travis Barker. DANIEL ROJAS
&ldquo;For those entering the cannabis industry, my advice is to stay informed, be adaptable and prioritize compliance,&rdquo; he says. &ldquo;Embrace the evolving landscape, focus on product quality and build a brand that resonates with authenticity. Additionally, fostering positive relationships within the industry and advocating for responsible use will contribute to long-term success.&rdquo;
Finally, on a lighthearted note, he answers the already classic question: if you could share cannabis with anyone, dead or alive, who would that be?
For Barker, the ideal cannabis companion would be 2Pac. And he&rsquo;s unhesitant in his answer. However, he adds a little twist: &ldquo;Instead of passing him a joint, I&rsquo;d slide over [an edible].&rdquo;
&ldquo;I&#39;m more of an edibles guy myself,&rdquo; he adds, painting a vivid picture of the situation. &ldquo;Imagine vibing to Pac&rsquo;s music, sharing wisdom over a chill session with (...) gummies in hand. That&#39;s the dream session right there.&rdquo;
Follow me on&nbsp;<a href="https://www.twitter.com/javierhasse" rel="nofollow noopener noreferrer" target="_blank">Twitter</a>&nbsp;or&nbsp;<a href="https://www.linkedin.com/in/javierhasse/" rel="nofollow noopener noreferrer" target="_blank">LinkedIn</a>.&nbsp;Check out&nbsp;my&nbsp;<a href="https://elplanteo.com/" rel="nofollow noopener noreferrer" target="_blank">website</a>&nbsp;or&nbsp;some of my other work&nbsp;<a href="https://benzinga.com/cannabis" rel="nofollow noopener noreferrer" target="_blank">here</a>.&nbsp;
This article was originally published on <a href="https://www.forbes.com/sites/javierhasse/2024/02/06/blink-182s-travis-barker-cannabis-helps-me-find-balance-in-the-chaos-of-my-life/?sh=eb8fd5c40cd7">Forbes</a>&nbsp;and appears here with permission. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Blink-182's Travis Barker: 'Cannabis Helps Me Find Balance In The Chaos Of My Life'


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