JPMorgan Chase & Co. Alerian MLP Index ETNs due January 28, 2044 (ARCA: AMJB)

Latest news for JPMorgan Chase & Co. Alerian MLP Index ETNs due January 28, 2044 (ARCA:AMJB)

Alerian MLP Index Exchange Traded Notes B (ETNs) provide investors a way to gain exposure to energy-oriented master limited partnerships, or MLPs

Alerian MLP Index ETN

JPMorgan Chase & Co. Alerian MLP Index ETNs due January 28, 2044

Piper Sandler analyst Brent Bracelin downgrades Workday (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>) from Overweight to Neutral and lowers the price target from $285 to $270.

News

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Analyst Ratings

WDAY

Piper Sandler Downgrades Workday to Neutral, Lowers Price Target to $270

Elon Musk-led&nbsp;SpaceX&nbsp;has obtained a commercial license from the&nbsp;Federal Communications Commission (FCC)&nbsp;for its <a href="https://www.benzinga.com/topic/starlink">Starlink Direct-to-Cell service</a>. This marks a pivotal step in expanding the reach of satellite-based mobile connectivity.
What Happened: The FCC has granted SpaceX a U.S. commercial license for its Starlink Direct-to-Cell service. This license allows SpaceX to operate its Gen2 Starlink satellites for non-geostationary orbit fixed-satellite services.
The FCC&#8217;s order partially approves SpaceX&#8217;s application&nbsp;to construct, deploy, and operate&nbsp;these satellites, with certain conditions.
The license also includes permission for SpaceX&nbsp;to provide Supplemental Coverage from&nbsp;Space (SCS) within the U.S. and to conduct direct-to-cell operations outside the country using its existing 7,500 Gen2 Starlink satellites.
See Also:&nbsp;<a href="https://www.benzinga.com/government/regulations/24/11/42160725/tesla-faces-environmental-violations-as-elon-musks-doge-prepares-for-garbage-collection-of-rules-that-dont-make-sense-report?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Faces Environmental Violations As Elon Musk&#8217;s &#8216;DOGE&#8217; Prepares For &#8216;Garbage Collection Of Rules That Don't Make Sense'</a>
Previously, the FCC granted SpaceX and&nbsp;T-Mobile US Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>)&nbsp;Special Temporary Authority (STA) to&nbsp;deliver Starlink Direct-to-Cell services in regions affected&nbsp;by Hurricanes Helene and Milton.
This service proved crucial in aiding recovery efforts, connecting 270,000 mobile phones, all belonging to T-Mobile subscribers, as reported by SpaceX earlier this month.
Why It Matters: This FCC license is a major milestone for SpaceX&#8217;s Starlink, enabling it to enhance mobile connectivity.
Earlier this month, SpaceX and T-Mobile activated their Direct-to-Cell coverage in Florida before&nbsp;<a href="https://www.benzinga.com/news/24/10/41243785/spacexs-starlink-and-t-mobile-get-approval-to-roll-out-direct-to-cell-coverage-in-florida-before-hur">Hurricane Milton</a>&nbsp;made landfall. This initiative allowed residents to send messages, contact emergency services, and receive alerts, even when traditional networks were down.
In September, T-Mobile successfully sent its <a href="https://www.benzinga.com/news/24/09/40826886/t-mobile-sends-first-wireless-emergency-alert-via-spacexs-starlink-satellites-in-space">first wireless emergency alert</a> via Starlink satellites, highlighting the potential of this technology in public safety. The alert was transmitted from a Starlink satellite in low-Earth orbit, functioning as a cell tower in space, and was received by a T-Mobile smartphone within seconds. This demonstrated the capability of Starlink to provide geographically targeted alerts in emergencies.
Moreover, SpaceX executive Benjamin Longmier recently clarified that Starlink would <a href="https://www.benzinga.com/news/24/10/41592030/worried-starlink-wont-work-on-cell-phones-indoors-spacex-engineer-clears-the-air">enable connectivity for cellphones even indoors</a>, addressing concerns about signal availability.
This comes at a time when SpaceX CEO Musk said that the company will use proceeds from its Starlink service to fund the Mars mission.
SpaceX is also reportedly <a href="https://www.benzinga.com/24/11/42022150/spacex-to-launch-tender-offer-valuing-company-at-over-250-billion-report">preparing to launch a tender offer</a> that values the company at $250 billion. While the company is private, investors can leverage&nbsp;Destiny Tech100 Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DXYZ#NYSE">DXYZ</a>)&nbsp;and&nbsp;Cathie Wood‘s&nbsp;Ark Venture Fund&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARKVX#NASDAQ">ARKVX</a>) to participate in the Musk-led space company&#8217;s growth.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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<li><a href="https://www.benzinga.com/markets/24/11/42207185/tesla-sweetens-referral-program-allowing-customers-to-earn-up-to-10000-as-elon-musks-ev-giant-races-to-50">Tesla Sweetens Referral Program, Allowing Customers To Earn Up To $10,000 As Elon Musk&#8217;s EV Giant Races To 500K Q4 Delivery Target</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

SPACE

Tech

ARKVX

DXYZ

TMUS

SpaceX's Starlink Direct-To-Cell Service Gets Commercial License From FCC: Here's What It Means

<ul>
<li>Nokia awarded more than 3,000 sites supporting Deutsche Telekom's Open RAN network ambitions</li>
<li>Supports Deutsche Telekom's Open RAN strategy of increasing choice in supplier base</li>
<li>Focus on high-power, large-scale multi-vendor Open RAN network rollout</li>
</ul>

Nokia Wins Deutsche Telekom Deal To Revolutionize Germany's O-RAN Landscape With 5G AirScale

CLVT

Clarivate's IPfolio To Drive Daikin's IP Innovation And Operational Efficiency

<h3>Companies Reporting Before The Bell</h3>
• Codere Online Luxembourg (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDRO#NASDAQ">CDRO</a>) is projected to report quarterly earnings at $0.01 per share on revenue of $49.81 million. 
• CollPlant Biotechnologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLGN#NASDAQ">CLGN</a>) is likely to report quarterly loss at $0.37 per share on revenue of $730 thousand. 
• QuantaSing Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QSG#NASDAQ">QSG</a>) is likely to report quarterly earnings at $0.27 per share on revenue of $134.60 million. 
• Frontline (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FRO#NYSE">FRO</a>) is projected to report quarterly earnings at $0.45 per share on revenue of $361.42 million. 
• Golden Ocean Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOGL#NASDAQ">GOGL</a>) is likely to report quarterly earnings at $0.33 per share on revenue of $196.25 million. 
• 111 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YI#NASDAQ">YI</a>) is expected to report earnings for its third quarter. 
• Arbe Robotics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARBE#NASDAQ">ARBE</a>) is likely to report quarterly loss at $0.11 per share on revenue of $450 thousand. 
• X Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XYF#NYSE">XYF</a>) is likely to report earnings for its third quarter. 
• BOS Better Online Solns (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BOSC#NASDAQ">BOSC</a>) is expected to report earnings for its third quarter. 
<h3>Companies Reporting After The Bell</h3>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

ARBE

BOSC

CDRO

CLGN

GOGL

Earnings Scheduled For November 27, 2024

MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) has become the epicenter of intense market speculation following a dramatic 23.64% stock decline over the past five sessions, while Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) <a href="https://www.benzinga.com/24/11/42206056/bitcoin-ethereum-dogecoin-tumble-as-diamond-hands-lock-in-gains-analyst-anticipates-strong-buyback-pressure-to-follow-sell-pressure">experienced a 5.52% drop during the same period</a>.
What Happened: Prominent investment analyst Gary Black of The Future Fund LLC raised alarm bells about MicroStrategy&#8217;s valuation, arguing that the company&#8217;s stock price &#8220;makes no sense.&#8221; Black&#8217;s analysis suggests the stock should be valued at around $105 per share—approximately 75% lower than its current trading price.
&#8220;Don't say I didn't warn you,&#8221; Black wrote. 
The company, led by CEO Michael Saylor, currently holds 386,700 Bitcoin, valued at $35.4 billion. With a market capitalization of $81.5 billion, MicroStrategy continues to trade at roughly 2.3 times the current value of its Bitcoin holdings.
The Kobeissi Letter highlighted unprecedented retail investor activity, noting that on a single Wednesday last week, retail investors purchased approximately $42 million of MSTR stock. 
This marked the largest daily retail purchase on record, with total retail investment approaching $100 million for the week. The stock experienced extraordinary trading dynamics, with last week seeing $136 billion in trading volume—exceeding even Amazon Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), despite AMZN having a market cap nearly 29 times larger.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Don't say I didn't warn you. Certainly got a lot of hate mail when we posted this 4 days ago. <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a> <a href="https://t.co/OwQlDbGstv">https://t.co/OwQlDbGstv</a> <a href="https://t.co/DNPMdBBtLY">https://t.co/DNPMdBBtLY</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1861661628019687856?ref_src=twsrc%5Etfw">November 27, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42207866/bitcoin-as-a-strategic-reserve-asset-cardano-founder-charles-hoskinson-predicts-btc-will-surge-to-500k-amid-defi-boom">Bitcoin Could Surge To $500K Amid DeFi Boom, Trump&#8217;s Pledge To Establish A BTC Strategic Reserve, Says Cardano Founder Charles Hoskinson</a>
Why It Matters: Standard Chartered analyst Geoffrey Kendrick provided critical market insights, suggesting Bitcoin may test support zones between $85,000 and $88,700. His year-end price target remains $125,000, with a long-term <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42192364/bitcoin-correction-could-go-as-deep-as-88700-but-125000-year-end-target-remains-in-play-says-standard-chartered">projection of $200,000 by the end of 2025</a>.
MicroStrategy&#8217;s investment approach involves a cyclical strategy of borrowing money through convertible notes, purchasing Bitcoin, driving price appreciation, selling shares at a premium, and reinvesting in more Bitcoin. 
Analysts are questioning the sustainability of this model, particularly whether Saylor can continue raising debt to purchase Bitcoin and if institutional and retail investor enthusiasm will persist.
Bitcoin&#8217;s recent pullback from near $100,000 to around $93,440 reflects broader market uncertainties, including reduced U.S. Treasury term premiums, <a href="https://www.benzinga.com/24/11/42206056/bitcoin-ethereum-dogecoin-tumble-as-diamond-hands-lock-in-gains-analyst-anticipates-strong-buyback-pressure-to-follow-sell-pressure">upcoming options expirations, and institutional repositioning</a>.
Price Action: Bitcoin was trading at $93,433 at the time of writing, up by 0.80% in the last 24 hours.
According to <a href="https://www.benzinga.com/quote/MSTR/analyst-ratings">Benzinga Pro data</a>, the consensus price target for MicroStrategy is $449.50. The highest price target is $690, while the lowest is $140, implying a potential 54.56% upside based on the most recent analyst ratings.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27025122/Screenshot-2024-11-27-at-1.19.55%E2%80%AFPM-1024x373.png" alt="" class="wp-image-666817" /></figure>
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<li><a href="https://www.benzinga.com/24/11/42206056/bitcoin-ethereum-dogecoin-tumble-as-diamond-hands-lock-in-gains-analyst-anticipates-strong-buyback-pressure-to-follow-sell-pressure">Bitcoin, Ethereum, Dogecoin Tumble As &#8216;Diamond Hands&#8217; Lock In Gains: Top Analyst Anticipates BTC Rebound</a></li>
</ul>
Image Via Shutetsrtock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Analyst Color

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

Cryptocurrency

Markets

$BTC

AMZN

MSTR

Michael Saylor's MicroStrategy Plunges 23% In 5 Sessions While Bitcoin Slips Under 6%: Gary Black Quips 'Don't Say I Didn't Warn You'

<ul>
<li>Fast Track designation indicates LBS-007's potential in filling the unmet medical need of acute leukemia</li>
<li>LBS-007 is the Company's investigational medicinal product for the treatment of acute leukemia</li>
<li>A Phase 1/2 trial in patients with relapsed or resistant acute leukemias is ongoing</li>
<li>LBS-007, the Company's lead asset, has been granted orphan drug designations for acute myeloid leukemia and acute lymphocytic leukemia by the U.S. FDA</li>
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BLTE

Lin BioScience's LBS-007 Granted FDA Fast Track Designation For Acute Leukemia Breakthrough

Russian-linked hacking group RomCom has exploited vulnerabilities in Mozilla Firefox and Microsoft Corp.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Windows to target users across Europe and North America.
What Happened: In a blog post on Monday, security researchers at ESET shared that they have discovered that RomCom used two previously unknown zero-day vulnerabilities in a widespread cyberattack.
These flaws allowed hackers to deploy a "zero-click" exploit, installing malware remotely without user interaction.
See Also: <a href="https://www.benzinga.com/24/11/42153854/apples-future-ventures-huaweis-new-chip-and-googles-antitrust-woes-this-week-in-appleverse?itm_source=parsely-api">Apple&#8217;s Future Ventures, Huawei&#8217;s New Chip, And Google&#8217;s Antitrust Woes: This Week In Appleverse</a>
RomCom leveraged these vulnerabilities through malicious websites to infect victims' devices with backdoor malware, granting them extensive access.
Mozilla patched the Firefox vulnerability on Oct. 9, while Microsoft addressed the Windows flaw on Nov. 12, after a report from Google&#8217;s Threat Analysis Group.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: RomCom was previously associated with a ransomware attack on Japanese tech giant Casio. The group is also notorious for targeting organizations allied with Ukraine. 
The attack by RomCom is also part of a broader pattern of Russian-linked cyber activities targeting various sectors globally. In September, it was reported that <a href="https://www.benzinga.com/news/24/09/40848363/pro-russian-hackers-reportedly-disrupt-taiwan-stock-exchange-on-thursday-services-restored-in-22-min">pro-Russian hackers</a> disrupted the Taiwan Stock Exchange, causing temporary service instability.
During the same month, <a href="https://www.benzinga.com/news/24/09/40912191/harris-walz-campaign-targeted-by-russian-hackers-microsoft-threat-analysis-center-notices-shift-in-t">Microsoft&#8217;s Threat Analysis Center</a> reported a shift in Russian cyber tactics, with operations targeting the Kamala Harris–Tim Walz campaign ahead of the 2024 presidential election.
Previously in March, Microsoft revealed that Russian hackers, known as Nobelium, stole some of its source code by <a href="https://www.benzinga.com/markets/equities/24/03/37561005/microsoft-says-russian-hackers-stole-code-after-spying-on-top-executives-attack-still-ongoing">spying on senior executives</a>.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
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<li><a href="https://www.benzinga.com/24/11/42155932/apple-black-friday-2024-get-up-to-200-in-gift-cards-on-iphones-macs-airpods-and-more-heres-everything-you-need-to-know?itm_source=parsely-api">Apple&#8217;s 2024 Black Friday Deals: Gift Cards Over Discounts — Here&#8217;s What You&#8217;ll Get</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

MSFT

Russian Hackers Launch Widespread Cyber Assault Using Firefox And Windows Zero-Days: What You Need To Know About The RomCom Exploit

The rise in prices of cryptocurrencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), and others may have enabled lower-income households to take out new mortgages to purchase property, a new study revealed.
What Happened: A paper by the U.S. Treasury&#8217;s Office of Financial Research has <a href="https://www.financialresearch.gov/briefs/files/OFRBrief-24-08-crypto-exposure-and-household-financial-outcomes.pdf">identified </a>a correlation between the surge in cryptocurrency investments and an increase in debt, particularly mortgages, in areas with high exposure to cryptocurrencies. 
Data showed that for low-income households in high-crypto exposure zip codes, the mortgage holder rate nearly quadrupled from 4.1% in January 2020 to 15.4% in January 2024. Additionally, the average balance per mortgage increased by over 150% from $171,773 in 2020 to $443,123.
&#8220;This indicates that low-income households may be using cryptocurrency gains to take out new mortgages and take out larger mortgages,&#8221; the study said.
The study also found that the average income of the cohort was $40,664 in January 2024, indicating a mortgage debt-to-income ratio of 0.53, well above the recommended benchmark of 0.36.
&#8220;It is particularly concerning because higher debt-to-income ratios are positively correlated with future default rates, especially during periods of turmoil such as the 2008 financial crisis,&#8221; the study stated.
That said, higher leverage among these groups hasn&#8217;t resulted in higher delinquency rates as of Q1 2024. On the contrary, delinquency on debt dropped the most among low-income households.
Mortgage delinquency dropped by 4.2% among low-income households in high-crypto exposure areas compared to 3.8% in low-crypto areas.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42205579/jim-cramer-says-bitcoin-and-ethereum-deserve-a-spot-in-your-portfolio-as-hedge-against-rising-us-debt-ive-liked-crypto-for-a-very-long-time">Jim Cramer Says Bitcoin And Ethereum &#8216;Deserve A Spot In Your Portfolio&#8217; As Hedge Against Rising US Debt: &#8216;I&#8217;ve Liked Crypto For A Very Long Time&#8217;</a>
It&#8217;s worth noting that during the period between January 2020 and January 2024, the total cryptocurrency market capitalization increased by 737%, from roughly $197 billion to $1.65 trillion.
Additionally, major coins like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) have leaped 355%, more than fourfold, in the said time period.
An August report <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40837412/65-of-u-s-consumers-think-crypto-could-replace-cash-in-the-future-deutsche-bank-report-fin">disclosed </a>that U.S. consumers are becoming more&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39253573/crypto-adoption-is-coming-slow-and-steady-research-report-says" target="_blank" rel="noreferrer noopener">receptive to cryptocurrency</a>, with fewer than 1% now dismissing it as a "fad," a significant drop from previous years.
Enthusiasts have placed high hopes in President-elect Donald Trump, who enthusiastically supported cryptocurrencies during his election campaign and is speculated to create the <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42098407/donald-trump-reportedly-eyeing-the-first-crypto-focused-role-in-the-white-house">first-ever White House role dedicated to cryptocurrency policy</a>.
Price Action: At the time of writing, Bitcoin was trading at $93,246.09, up 0.77% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
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Image generated using Dall-E

$DOGE

Surge In Bitcoin, Dogecoin And Other Cryptos Boosting Home Ownership Among Low-Income Americans, Says Treasury Department

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HAFN

Hafnia Ltd Reported Q3 EPS of $0.42 Vs $0.33 Est

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Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>) founder Charles Hoskinson, a co-founder of Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), predicted Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) could surge to between $250,000 and $500,000 within the next 12 to 24 months, citing growing institutional investment and <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42198909/trump-linked-crypto-platform-world-liberty-financial-appoints-justin-sun-as-advisor-after-30-million-investment">emerging decentralized finance opportunities</a>.
What Happened: In a recent <a href="https://www.youtube.com/watch?v=1qh7PlT2tq4">livestream</a> from Colorado, Hoskinson emphasized Bitcoin&#8217;s transformative potential, describing it as more than just a cryptocurrency but a strategic asset for governments and institutions worldwide. 
Hoskinson has deep roots in the cryptocurrency ecosystem and highlighted Bitcoin&#8217;s evolution from a &#8220;dormant project&#8221; to a potentially revolutionary financial technology.
The cryptocurrency veteran believes Bitcoin&#8217;s ecosystem could experience unprecedented growth, particularly with the development of DeFi layers that could dramatically expand its utility. 
He stated that &#8220;governments are considering Bitcoin as a strategic reserve asset,&#8221; drawing a parallel to gold&#8217;s historical role as a store of value. Hoskinson predicted that &#8220;Bitcoin-based DeFi will surpass all other ecosystems within 24 to 36 months.&#8221;
In a keynote speech at a Bitcoin conference in Nashville, Tennessee, this past July, President-elect Donald Trump pledged to establish the United States as the &#8220;crypto capital of the planet&#8221; and indicated plans to create a Bitcoin strategic reserve utilizing the <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41770352/bitcoins-future-under-president-elect-donald-trump-a-look-at-his-crypto-policies">cryptocurrency held by the government</a>.
See Also: <a href="https://www.benzinga.com/24/11/42206614/polygons-pol-token-outshines-bitcoin-ethereum-in-30-day-gains-top-analyst-anticipates-no-major-selling-pressure-in-days-ahead">Crypto&#8217;s Next Mega-Rocket? Analyst Forecasts Insane 2725%-6600% Surge For This Coin</a>
Why It Matters: The prediction comes amid a volatile cryptocurrency landscape. Recent data shows Bitcoin experiencing significant price fluctuations, with long-term holders offloading 728,000 coins in the past 30 days—the l<a href="https://www.benzinga.com/24/11/42206056/bitcoin-ethereum-dogecoin-tumble-as-diamond-hands-lock-in-gains-analyst-anticipates-strong-buyback-pressure-to-follow-sell-pressure">argest sell-off since April</a>. 
Despite short-term volatility, market analysts remain cautiously optimistic. Haider Rafique, Global Chief Marketing Officer at OKX exchange, noted the significant profit potential for investors, with the <a href="https://www.benzinga.com/24/11/42206056/bitcoin-ethereum-dogecoin-tumble-as-diamond-hands-lock-in-gains-analyst-anticipates-strong-buyback-pressure-to-follow-sell-pressure">average holding price around $30,000</a>.
While bullish on Bitcoin, Hoskinson remains committed to Cardano&#8217;s role in the broader cryptocurrency ecosystem. He positioned Cardano as a &#8220;spiritual successor to Bitcoin&#8221; and emphasized the importance of creating hybrid applications that integrate Bitcoin functionality, showcasing his continued innovation in the blockchain space.
Price Action: Bitcoin the leading cryptocurrency by market capitalization, is currently trading at $93,201.11. The price has risen by 1.74% over the past 24 hours and 0.63% over the last seven days, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
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Image via Pexels
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

$ADA

$ETH

Bitcoin Could Surge To $500K Amid DeFi Boom, Trump's Pledge To Establish A BTC Strategic Reserve, Says Cardano Founder Charles Hoskinson

Investors who supported Elon Musk&#8216;s acquisition of Twitter are reportedly seeing significant returns due to the rising valuation of his AI company, xAI. These investors, who received a 25% stake in xAI, are poised for substantial gains.
What Happened: xAI, founded by Musk last year, is reportedly nearing the completion of a $5 billion fundraising round. This could potentially double its valuation to $50 billion within six months, offsetting some of the unrealized losses from the Twitter deal. Notable beneficiaries include Fidelity, Oracle co-founder Larry Ellison, Saudi Prince Alwaleed bin Talal, and Jack Dorsey.
The strategic intertwining of Musk&#8217;s ventures, including Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and SpaceX, underscores the benefits for those backing his enterprises. The latest funding round will bring xAI&#8217;s total investment to approximately $11 billion, crucial for its AI model development and supercomputer infrastructure, the Financial Times <a href="https://www.ft.com/content/5c9ca1f6-b6fe-4c96-84e2-38e3eee90f3b">reported</a> on Wednesday.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42152684/musk-tweet-sparks-dogecoin-surge-fuels-speculation-on-x-payments?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Musk Tweet Sparks Dogecoin Surge, Fuels Speculation On X Payments</a>
Despite Twitter&#8217;s declining value, xAI&#8217;s growth has been advantageous for Musk&#8217;s backers, who initially contributed $7.1 billion for the Twitter takeover. The Financial Times noted that only previous xAI investors could participate in the latest fundraising, maintaining their stake undiluted.
xAI is yet to respond to Benzinga&#8217;s queries.
Why It Matters: The rise in xAI&#8217;s valuation comes as the company seeks to raise <a href="https://www.benzinga.com/24/11/42022077/elon-musks-xai-seeks-6b-at-50b-valuation-to-acquire-100k-nvidia-chips-for-memphis-data-center">up to $6 billion </a>to acquire 100,000 Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) chips for its Memphis data center. This move is part of xAI&#8217;s strategy to bolster its AI capabilities and infrastructure.
Additionally,&nbsp;Cathie Wood&#8216;s ARK Venture Fund&nbsp;has <a href="https://www.benzinga.com/markets/24/11/42180383/want-to-invest-in-spacex-and-xai-cathie-woods-ark-venture-fund-brings-musks-private-companies-to-your-portfolio">opened up investment opportunities</a> in Musk&#8217;s private ventures, including xAI, SpaceX, and the rebranded social media platform X. The&nbsp;ARK Venture Fund&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARKVX#NASDAQ">ARKVX</a>) would give exposure to the companies, with xAI representing 1.5%&nbsp;of the portfolio.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/tech/24/11/42183055/elon-musk-slams-californias-proposal-to-shut-tesla-evs-out-of-consumer-rebates-in-state-this-is-insane?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Slams California&#8217;s Proposal To Shut Tesla EVs Out Of Consumer Rebates In State: &#8216;This Is Insane&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo via Shutterstock

General

NVDA

TSLA

Jack Dorsey, Larry Ellison Among Elon Musk's Twitter Backers Set To Gain Windfall From xAI Deal

Frontline (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FRO#NYSE">FRO</a>) reported quarterly earnings of $0.34 per share which missed the analyst consensus estimate of $0.45 by 24.44 percent. This is a 5.56 percent decrease over earnings of $0.36 per share from the same period last year. The company reported quarterly sales of $490.36 million which beat the analyst consensus estimate of $361.42 million by 35.68 percent. This is a 30.04 percent increase over sales of $377.08 million the same period last year.

Frontline Q3 Adj. EPS $0.34 Misses $0.45 Estimate, Sales $490.36M Beat $361.42M Estimate

Arbe Robotics Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARBE#NASDAQ">ARBE</a>) will release earnings results for its third quarter, before the opening bell on Wednesday, Nov. 27.
Analysts expect the Tel Aviv-Yafo, Israel-based bank to report a quarterly loss at 11 cents per share, versus a year-ago loss of 10 cents per share. Arbe Robotics projects to report revenue of $450 thousand for the recent quarter, compared to $479 thousand a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Nov. 4, Arbe Robotics announced the closing of up to $49 million public offering.
Arbe Robotics shares fell 1% to close at $1.91 on Tuesday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/TCOM/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/599ecad3ca17380001263601/suji-desilva">Roth MKM analyst Suji Desilva</a> maintained a Buy rating and cut the price target from $4 to $2 on March 8. This analyst has an accuracy rate of 75%.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58d5296ab85e930001416e5c/gary-mobley">Wells Fargo analyst Gary Mobley</a> maintained an Overweight rating and slashed the price target from $5 to $4 on March 8. This analyst has an accuracy rate of 71%.</li>
</ul>
Considering buying ARBE stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="554" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27021944/image-285-1024x554.png" alt="" class="wp-image-666760" style="width:660px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27021944/image-285-1024x554.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27021944/image-285-300x162.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27021944/image-285-768x415.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27021944/image-285.png 1171w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read This Next: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/42188912/jim-cramer-linde-is-a-terrific-company-sees-another-stock-up-75-as-not-done">Jim Cramer: Linde Is A &#8216;Terrific&#8217; Company, Sees Another Stock Up 75% As &#8216;Not Done&#8217;</a></li>
</ul>

Pre-Market Outlook

Trading Ideas

Top Wall Street Forecasters Revamp Arbe Robotics Price Expectations Ahead Of Q3 Earnings

The CNN Money Fear and Greed index showed a slight improvement in the overall market sentiment, while the index remained in the &#8220;Greed&#8221; zone on Tuesday.
U.S. stocks settled higher on Tuesday, with the Dow Jones index and S&amp;P 500 surging to fresh record levels during the session.
Dick&#8217;s Sporting Goods Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKS#NYSE">DKS</a>) reported upbeat earnings for its third quarter. Kohl's Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KSS#NYSE">KSS</a>) reported worse-than-expected third-quarter results, cut its FY24 EPS guidance, and projected a net sales decrease of 7%-8%. Best Buy Co., Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>) reported weaker-than-expected earnings for its fiscal 2025 third quarter.
On the economic data front, the S&amp;P CoreLogic Case-Shiller home price index rose 4.6% year-over-year in September versus a 5.2% increase in August. Sales of new single-family homes in the U.S. dipped by 17.3% to an annualized rate of 610,000 in October.
Most sectors on the S&amp;P 500 closed on a positive note, with utilities, communication services, and consumer discretionary stocks recording the biggest gains on Tuesday. However, energy and materials stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 124 points to 44,860.31 on Tuesday. The S&amp;P 500 rose 0.57% to 6,021.63, while the Nasdaq Composite rose 0.63% to close at 19,175.58 during Tuesday's session.
Investors are awaiting earnings results from Frontline plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FRO#NYSE">FRO</a>) and Golden Ocean Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOGL#NASDAQ">GOGL</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 64.4, the index remained in the &#8220;Greed&#8221; zone on Tuesday, versus a prior reading of 64.2.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/42188912/jim-cramer-linde-is-a-terrific-company-sees-another-stock-up-75-as-not-done">Jim Cramer: Linde Is A &#8216;Terrific&#8217; Company, Sees Another Stock Up 75% As &#8216;Not Done&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

Long Ideas

Dow, S&P 500 Settle At Record Highs, Best Buy Reports Weaker Than Expected Earnings: Fear Index Remains In 'Greed' Zone

Frontline plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FRO#NYSE">FRO</a>) will release earnings results for the third quarter, before the <a href="https://www.benzinga.com/quote/FRO/earnings">opening bell on Wednesday, Nov. 27</a>.
Analysts expect Frontline to report quarterly earnings at 38 cents per share. That's up from 36 cents per share a year ago. The Limassol, Cyprus-based company projects to report quarterly revenue of $317.59 million, compared to $232.03 million a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Aug. 30, Frontline reported better-than-expected second-quarter sales results.
Frontline shares fell 5% to close at $18.07 on Tuesday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/TJX/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Jefferies analyst Omar Nokta maintained a Buy rating and cut the price target from $30 to $26 on Nov. 14. This analyst has an accuracy rate of 70%.</li>
<li>BTIG analyst Gregory Lewis upgraded the stock from Neutral to Buy with a price target of $30 on Oct. 7. This analyst has an accuracy rate of 76%.</li>
<li>Evercore ISI Group analyst Jonathan Chappell maintained an Outperform rating and cut the price target from $33 to $32 on July 23. This analyst has an accuracy rate of 70%.</li>
<li>JP Morgan analyst Samuel Bland maintained a Neutral rating and cut the price target from $23 to $22.3 on March 1. This analyst has an accuracy rate of 72%.</li>
<li>Deutsche Bank analyst Amit Mehrotra upgraded the stock from Hold to Buy with a price target of $26 on Jan. 9. This analyst has an accuracy rate of 72%.</li>
</ul>
Considering buying FRO stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="583" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27021136/image-284-1024x583.png" alt="" class="wp-image-666749" style="width:667px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27021136/image-284-1024x583.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27021136/image-284-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27021136/image-284-768x437.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27021136/image-284.png 1073w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read This Next: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/42188912/jim-cramer-linde-is-a-terrific-company-sees-another-stock-up-75-as-not-done">Jim Cramer: Linde Is A &#8216;Terrific&#8217; Company, Sees Another Stock Up 75% As &#8216;Not Done&#8217;</a></li>
</ul>

Frontline Gears Up For Q3 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Golden Ocean Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOGL#NASDAQ">GOGL</a>) reported quarterly earnings of $0.28 per share which missed the analyst consensus estimate of $0.33 by 15.15 percent. This is a 100 percent increase over earnings of $0.14 per share from the same period last year. The company reported quarterly sales of $260.621 million which beat the analyst consensus estimate of $195.750 million by 33.14 percent. This is a 17.58 percent increase over sales of $221.663 million the same period last year.

Earnings Beats

Earnings Misses

Golden Ocean Group Q3 2024 GAAP EPS $0.28 Misses $0.33 Estimate, Sales $260.621M Beat $195.750M Estimate

With U.S. stock futures trading mixed this morning on Wednesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Frontline Plc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FRO#NYSE">FRO</a>) to report quarterly earnings at 45 cents per share on revenue of $361.42 million before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Frontline shares rose 1.1% to $18.26 in after-hours trading.</li>
<li>HP Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>) reported in-line earnings for its fourth quarter, while sales topped estimates. HP said it expects first-quarter adjusted earnings of between 70 cents and 76 cents per share, versus the 85 cent estimate, and fiscal 2025 earnings of between $3.45 and $3.75 per share, versus the $3.60 estimate. HP shares fell 7.4% to $36.19 in the after-hours trading session.</li>
<li>Analysts are expecting Golden Ocean Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOGL#NASDAQ">GOGL</a>) to post quarterly earnings at 32 cents per share on revenue of $195.75 million. The company will release earnings before the markets open. Golden Ocean shares gained 0.4% to $10.90 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) reported better-than-expected earnings for its third quarter, while sales missed estimates. The company reported quarterly earnings of $2.15 per share, which beat the analyst consensus estimate of $2.05. Quarterly revenue came in at $24.37 billion, which missed the consensus estimate of $24.65 billion and is an increase over revenue of $22.25 billion from the same period last year. Dell shares tumbled 11.3% to $125.75 in the after-hours trading session.</li>
<li>CrowdStrike Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) posted upbeat results for its third quarter. The company said it expects fourth-quarter revenue to be between $1.029 billion and $1.035 billion versus estimates of $1.03 billion. The company anticipates fourth-quarter adjusted earnings of 84 cents to 86 cents per share versus estimates of 86 cents per share. CrowdStrike shares fell 5.7% to $343.38 in the after-hours trading session.</li>
</ul>
Check This Out: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/42188912/jim-cramer-linde-is-a-terrific-company-sees-another-stock-up-75-as-not-done">Jim Cramer: Linde Is A &#8216;Terrific&#8217; Company, Sees Another Stock Up 75% As &#8216;Not Done&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

CRWD

DELL

HP, CrowdStrike And 3 Stocks To Watch Heading Into Wednesday

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AMJB

AMLP

AMNA

AMND

AMTR

AMUB

AMZA

ATMP

BDCZ

BIZD

BOIL

CNRG

CRAK

DFNL

DPST

EINC

EMLP

ENFR

ENLC

FENY

FILL

FNCL

FTXN

FTXO

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HDRO

HESM

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KBWB

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KBWP

KBWR

KEYUF

KNTK

KOLD

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MMLP

MPLX

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OLOXF

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PSCF

PSFE

QABA

RSPF

RSPG

SOLR

TPYP

TRGP

USAI

USOI

Press Releases

JPMorgan Chase Financial Company LLC Launches New Alerian MLP Index® ETN (NYSE Arca: AMJB)

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JPMorgan Announces Results of Exchange Offer Relating to Its Alerian MLP Index ETNs and Reminds Holders That the Remaining AMJ ETNs Will Mature May 24, 2024

Comments

JPMorgan Chase & Co. Alerian MLP Index ETNs due January 28, 2044

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Latest news for JPMorgan Chase & Co. Alerian MLP Index ETNs due January 28, 2044 (ARCA:AMJB)

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