Latest news for Current Energy (OTC:ARMM) Stock

Current Energy and Renewables Corp is a supplier of renewable and traditional energy to commercial and industrial clients in deregulated markets. It provides traditional and renewable energy to large and small commercial and industrial customers.

Current Energy and Renewables Corp

<a href="https://www.ft.com/content/a379f414-592f-4469-afeb-dc494709a9f7" title="https://www.ft.com/content/a379f414-592f-4469-afeb-dc494709a9f7">https://www.ft.com/content/a379f414-592f-4469-afeb-dc494709a9f7</a>

News

AMZN

Financial Times Reported Earlier, Amazon Buys Hammer Horror Home Bray Film Studios In UK Production Push

OUTLOOK:
FY25 traffic is expected to grow 8% (198m to 200m passengers), subject to no worsening Boeing delivery delays.&nbsp; As previously guided, we expect unit costs to rise modestly this year as ex-fuel costs (incl. pay &amp; productivity increases, higher handling &amp; ATC fees and the impact of multiple B737 delivery delays) are substantially offset by our fuel hedge savings, and rising net interest income, which widen Ryanair&#39;s cost advantage over its competitors.&nbsp; While Q2 demand is strong, pricing remains softer than we expected, and we now expect Q2 fares to be materially lower than last summer (previously expected to be flat to modestly up).&nbsp; The final H1 outcome is, however, totally dependent on close-in bookings and yields in Aug. and Sept.&nbsp; As is normal at this time of year, we have almost zero Q3 and Q4 visibility, although Q4 will not benefit from last year&#39;s early Easter.&nbsp; It is too early to provide meaningful FY25 PAT guidance, although we hope to be able to do so at our H1 results in Nov.&nbsp; The final FY25 outcome remains subject to avoiding adverse developments during FY25 (especially given continuing conflicts in&nbsp;Ukraine&nbsp;and the&nbsp;Middle East, repeated ATC short-staffing and capacity restrictions, or further Boeing delivery delays).&quot;

Guidance

RYAAY

Ryanair Expects 8% Traffic Growth In 2025, Pending Boeing Deliveries; Unit Costs To Increase Modestly; Q2 Fares To Drop Significantly Compared To Last Summer

Needham analyst Ami Fadia maintains Intra-Cellular Therapies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ITCI#NASDAQ">ITCI</a>) with a Buy and raises the price target from $94 to $100.

Price Target

Analyst Ratings

ITCI

Needham Maintains Buy on Intra-Cellular Therapies, Raises Price Target to $100

Keefe, Bruyette &amp; Woods analyst Bose George downgrades Mr. Cooper Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COOP#NASDAQ">COOP</a>) from Outperform to Market Perform and maintains the price target from $95 to $95.

Downgrades

COOP

Keefe, Bruyette & Woods Downgrades Mr. Cooper Gr to Market Perform, Maintains Price Target to $95

Keefe, Bruyette &amp; Woods analyst George Bose downgrades PennyMac Financial Servs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFSI#NYSE">PFSI</a>) from Outperform to Market Perform and maintains the price target from $102 to $102.

PFSI

Keefe, Bruyette & Woods Downgrades PennyMac Financial Servs to Market Perform, Maintains Price Target to $102

Shares of Tellurian Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TELL#NASDAQ">TELL</a>) rose sharply in today's pre-market trading after Woodside Energy announced plans to acquire the company for $900 million <a href="https://www.benzinga.com/quote/TELL/news">in all-cash deal</a>.
The implied enterprise value is around $1,200 million.
Tellurian shares jumped 65% to $0.9422 in pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Netcapital Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCPL#NASDAQ">NCPL</a>) rose 43.8% to $0.1495 in pre-market trading after jumping more than 12% on Friday. Netcapital, last week, announced the launch of the beta version of its secondary trading platform.</li>
<li>Serve Robotics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SERV#NASDAQ">SERV</a>) gained 36.8% to $10.33 in pre-market trading. Serve Robotics shares jumped 187% on Friday after Nvidia in a Form4 filing disclosed a stake in the company.</li>
<li>Richtech Robotics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RR#NASDAQ">RR</a>) shares climbed 29.2% to $1.90 in pre-market trading after gaining around 228% on Friday.</li>
<li>CISO Global Inc.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CISO#NASDAQ">CISO</a>) gained 28.6% to $0.7653 in pre-market trading. CISO Global announced a comprehensive solution to mitigate impact of recent security incident involving CrowdStrike and Microsoft.</li>
<li>NuZee, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUZE#NASDAQ">NUZE</a>) shares gained 21.8% to $1.34 in pre-market trading.</li>
<li>Nukkleus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUKK#NASDAQ">NUKK</a>) gained 18.7% to $0.3798 in pre-market trading.</li>
<li>TuanChe Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TC#NASDAQ">TC</a>) shares gained 16.8% to $1.80 in pre-market trading after falling 6% on Friday.</li>
<li>Twin Vee Powercats Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VEEE#NASDAQ">VEEE</a>) rose 15.3% to $0.5590 in pre-market trading. Twin Vee PowerCats, last week, named Karl Zimmer as President.</li>
<li>OFG Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OFG#NYSE">OFG</a>) shares surged 14.5% to $49.99 in pre-market trading. The company, last week, posted downbeat quarterly sales.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Exicure, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XCUR#NASDAQ">XCUR</a>) shares fell 23.4% to $0.41 in pre-market trading after surging 76% on Friday.</li>
<li>Portage Biotech Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRTG#NASDAQ">PRTG</a>) shares fell 12.2% to $0.2010 in pre-market trading after gaining around 25% on Friday.</li>
<li>Ryanair Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RYAAY#NASDAQ">RYAAY</a>) shares fell 11.6% to $101.10 in pre-market trading after the company said profits dipped 46% to 360 million euros (£303 million) for the three months to June 30.</li>
<li>Stronghold Digital Mining Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SDIG#NASDAQ">SDIG</a>) shares declined 11.3% to $3.61 in pre-market trading after gaining over 9% on Friday.</li>
<li>Onconetix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONCO#NASDAQ">ONCO</a>) shares fell 9.8% to $0.1531 in pre-market trading after dipping around 22% on Friday.</li>
<li>Novo Integrated Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVOS#NASDAQ">NVOS</a>) fell 9.8% to $0.60 in pre-market trading. Novo Integrated Sciences shares gained 10% on Friday after the company announced that it received notice of the commencement of disbursement for the complete monetization of a Standby Letter of Credit and monetization program.</li>
<li>Safe and Green Development Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGD#NASDAQ">SGD</a>) shares declined 8.6% to $0.33 in pre-market trading after falling 8% on Friday.</li>
<li>Virios Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIRI#NASDAQ">VIRI</a>) fell 8.4% to $0.2306 in pre-market trading after declining over 4% on Friday.</li>
<li>Salarius Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLRX#NASDAQ">SLRX</a>) shares dipped 7.1% to $1.70 in pre-market trading after falling around 25% on Friday. Salarius Pharmaceuticals was recently notified by MD Anderson Cancer Center of a Grade 4 adverse event in the Seclidemstat clinical trial.</li>
<li>NKGen Biotech, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKGN#NASDAQ">NKGN</a>) shares fell 7% to $1.11 in pre-market trading after gaining 7% on Friday. NKGen Biotech, last week, announced it will present new SNK01 biomarker data at the Alzheimer&#8217;s Association International Conference.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/07/39876573/verizon-sap-and-3-stocks-to-watch-heading-into-monday">Verizon, SAP And 3 Stocks To Watch Heading Into Monday</a></li>
</ul>

Pre-Market Outlook

Markets

Movers

Trading Ideas

CISO

NCPL

NKGN

NUKK

NUZE

NVOS

ONCO

PRTG

SDIG

SERV

SLRX

TELL

VEEE

VIRI

XCUR

Why Tellurian Shares Are Trading Higher By Around 65%; Here Are 20 Stocks Moving Premarket

Goldman Sachs analyst Susan Maklari downgrades Lennar (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) from Buy to Neutral and lowers the price target from $180 to $174.

Goldman Sachs Downgrades Lennar to Neutral, Lowers Price Target to $174

Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) shares gained <a href="https://benzinga.grsm.io/register174">in premarket trading </a>on Monday, rising along with the index futures, which are priming for a modestly to moderately higher open.
The gain by the publicly-listed media firm owned by former President Donald Trump comes after the developments over the weekend, which saw presumptive Democratic nominee and President Joe Biden announcing his decision to quit the race. The president endorsed Vice President Kamala Harris, who was his running mate, for the presidency. Most Democrats have thrown their weight behind her.
Former President Bill Clinton and his wife and former presidential nominee Hillary Clinton have endorsed Harris. On the other hand, former President Barack Obama is in favor of an open nomination at the Democratic party&#8217;s convention. &#8220;We will be navigating uncharted waters in the days ahead. But I have extraordinary confidence that the leaders of our party will be able to create a process from which an outstanding nominee emerges,&#8221; he said in a statement.
As the Democratic camp goes about a turbulent period, the advantage is clearly with Trump despite his criminal lawsuits, his age and voters not really warming up to him. 
See Also:<a href="https://www.benzinga.com/money/best-social-media-stocks"> Best Social Media Stocks</a>
Trump has a majority 64.9% stake in TMTG, which owns the Truth Social platform, thanks to the 114.7 million shares he owns in the company. The company went public on March 26 following the consummation of its long-delayed merger with the SPAC, Digital World Acquisition Corp.
Since then the stock has had a volatile ride and traded between a high and low of $79.38 (post-SPAC merger high) and $22.55 (Apr. 16).
The stock spiked higher, topping the $40 mark after the June 26 debate, before retracing some of the gains. It made a renewed push higher amid the failed <a href="https://www.benzinga.com/markets/equities/24/07/39767334/trump-media-technology-djt-surges-over-60-pre-market-whats-driving-the-rally">assassination attempt on Trump</a> at a campaign rally in Pennsylvania on July 13. The stock went past $46 on July 15.
In premarket, the stock rose 1.97% to $35.68, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/politics/24/07/39874057/biden-drops-out-of-2024-race-in-bombshell-announcement-it-has-been-the-greatest-honor-of-my-life">Biden Drops Out Of 2024 Race In Bombshell Announcement: &#8216;It Has Been The Greatest Honor Of My Life To Serve As Your President&#8217;</a></li>
</ul>
Image via Shutterstock

Trump Media & Technology (DJT) Stock Rises In Premarket On Monday: What's Going On

Goldman Sachs analyst Eric Sheridan initiates coverage on Webtoon Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBTN#NASDAQ">WBTN</a>) with a Buy rating and announces Price Target of $62.

Initiation

WBTN

Goldman Sachs Initiates Coverage On Webtoon Entertainment with Buy Rating, Announces Price Target of $62

Goldman Sachs analyst Neil Mehta initiates coverage on Talos Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TALO#NYSE">TALO</a>) with a Buy rating and announces Price Target of $14.

TALO

Goldman Sachs Initiates Coverage On Talos Energy with Buy Rating, Announces Price Target of $14

BMO Capital analyst Tristan Thomas-Martin initiates coverage on Driven Brands Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRVN#NASDAQ">DRVN</a>) with a Market Perform rating and announces Price Target of $14.

DRVN

BMO Capital Initiates Coverage On Driven Brands Hldgs with Market Perform Rating, Announces Price Target of $14

Renowned economist Mohamed El-Erian has expressed his views on the potential impact of President Joe Biden&#8216;s decision to exit the presidential race on US stock futures.
What Happened: In a post on X on Monday, El-Erian stated that opinions are likely to vary on how the news will influence U.S. stock futures. Some may perceive this as an indication of greater policy uncertainty post the November elections, while others might believe that the markets have already factored in the news. And a few others are likely to view this as a &#8220;short-term distraction for markets at best.&#8221;
&#8220;All this is to say that there is genuine uncertainty on how markets will – AND should – react to the news.&#8221;
<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">Views are likely to differ on how the news of President Biden dropping out of the presidential race will impact US stock futures when they start trading later this afternoon (and beyond). I suspect that … Some will interpret this as implying greater uncertainty on what can be…
&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1815091547739709783?ref_src=twsrc%5Etfw">July 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39872368/mark-cuban-says-trumps-re-election-wont-impact-bitcoins-price-dogecoin-killer-shiba-inus-b?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Says Trump&#8217;s Re-Election Won&#8217;t Impact Bitcoin&#8217;s Price, &#8216;Dogecoin Killer&#8217; Shiba Inu&#8217;s Burn Rate</a>
Why It Matters: El-Erian&#8217;s comments come in the context of President Biden&#8217;s declining economic approval ratings. According to a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37062522/el-erian-thinks-bidens-economic-woes-could-be-self-inflicted-as-trump-gains-ground-">February 2024 poll</a>, 42% of registered voters preferred Donald Trump over Biden for steering the economy, giving Trump an 11-point lead.
In May, El-Erian highlighted<a href="https://www.benzinga.com/news/24/05/38780665/mohamed-el-erian-highlights-voter-concerns-over-inflation-income-and-housing-costs-in-latest-poll-im"> inflation as a major challenge</a> for Biden&#8217;s potential reelection, with 58% of voters disapproving of his handling of the economy. This disapproval had increased from 55% the previous month.
Despite Biden&#8217;s <a href="https://www.benzinga.com/general/politics/24/07/39731800/biden-cheers-inflation-progress-rate-cut-chorus-grows-louder-among-5-economists-this-is-just-wha">recent celebration of progress</a> in fighting inflation, economists predict that the Federal Reserve will soon begin cutting interest rates following cooler-than-expected inflation reports.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39871849/analyst-predicts-bitcoin-to-soar-by-83-but-theres-one-major-catch-were-going-to-get-that-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Analyst Predicts Bitcoin To Soar By 83%, But There&#8217;s One Major Catch: &#8216;We&#8217;re Going To Get That Continuation As Long As &#8230;&#8217;</a></li>
</ul>
Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Analyst Color

Politics

General

Mohamed El-Erian On Biden's Withdrawal From Presidential Race: 'There Is Genuine Uncertainty On How Markets Will - And Should- React To The News'

GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) and Kratos Turbine Technologies, a division of Kratos Defense &amp; Security Solutions, Inc., signed a Memorandum of Understanding to partner on the development and production of small affordable engines that could potentially power unmanned aerial systems (UAS), collaborative combat aircraft, and similar applications. The partnership builds on an existing joint development agreement and includes full-scale engine production.
For the last year, GE Aerospace and Kratos have been working together on a small affordable engine. The engine initially was developed and ground tested by Kratos. Under the existing joint agreement, GE Aerospace and Kratos completed additional development efforts and are now conducting tests on the engine. The team plans to continue development on the current engine, which will undergo altitude testing next year at GE Aerospace&#39;s test cell in&nbsp;Evendale, Ohio.
Amy Gowder, President and CEO, Defense &amp; Systems at GE Aerospace said, &quot;Our defense customers have a growing interest in small affordable engines to meet their evolving mission requirements. Our initial collaboration has been very successful, and this agreement furthers our efforts in this new dynamic military segment.&quot;
Eric DeMarco, President &amp; CEO of Kratos Defense &amp; Security Solutions, Inc., said, &quot;Kratos has made significant investments in the development of our family of small, low-cost jet engines for jet powered drones, missiles, and powered munitions that lead in technology and capability. We consider our relationship with GE Aerospace as invaluable based on our expectation and forecast for the potential future production of thousands of turbofan engines for multiple customers.&quot;
Each company brings unique expertise to the partnership.&nbsp;Kratos has more than 20 years of experience in the development and production of small affordable jet engines for UAS, drones, and missiles. GE Aerospace has more than 100 years of experience in the development and scaling up of high-volume production for jet engine programs for a seamless transition from development to production.

Government

Regulations

KTOS

GE Aerospace and Kratos Partner to Develop Small Engines for Military Drones

Ryanair Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RYAAY#NASDAQ">RYAAY</a>) reported quarterly earnings of $1.69 per share which missed the analyst consensus estimate of $2.86 by 40.8 percent. This is a 46.25 percent decrease over earnings of $3.15 per share from the same period last year. The company reported quarterly sales of $3.904 billion which missed the analyst consensus estimate of $4.260 billion by 8.37 percent. This is a 1.84 percent decrease over sales of $3.977 billion the same period last year.

Earnings

Earnings Misses

Ryanair Holdings Q1 2025 GAAP EPS $1.69 Misses $2.86 Estimate, Sales $3.904B Miss $4.260B Estimate

<a href="https://www.bloomberg.co.jp/news/articles/2024-07-22/SGZWUZT0AFB400" title="https://www.bloomberg.co.jp/news/articles/2024-07-22/SGZWUZT0AFB400">https://www.bloomberg.co.jp/news/articles/2024-07-22/SGZWUZT0AFB400</a>

Asset Sales

Bloomberg Reported Earlier, Hitachi and Johnson Controls International Are Finalizing The Sale Of Their Joint Venture, Which Handles Home Air Conditioners And Other Air Conditioning Products, To Germany's Robert Bosch

Amid criticism that the <a href="https://www.benzinga.com/markets/equities/24/07/39854612/windows-pcs-crash-worldwide-with-users-experiencing-blue-screen-of-death-issue-crowdstrike-updat">CrowdStrike issue</a> wouldn't have happened with Apple Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) macOS, Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has clarified that a prior agreement with the European Commission it is legally unable to adopt the same security measures as Cupertino.
What Happened: Following the CrowdStrike incident, Satya Nadella-led company&#8217;s spokesperson explained that as part of this agreement, Microsoft committed to providing security software makers with the same level of access to Windows as it has.
This is far unlike what Apple is able to do with macOS, where it does not have to adhere to these restrictions. As a result, privileged access to a very critical component of the operating system – the kernel – is off-limits to third-party software makers.
Microsoft's Chief Communications Officer, Frank X Shaw, highlighted this in a post on X, formerly Twitter.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">from the article: A Microsoft spokesman said it cannot legally wall off its operating system in the same way Apple does because of an understanding it reached with the European Commission following a complaint. In 2009, Microsoft agreed it would give makers of security software…
&mdash; Frank X. Shaw (@fxshaw) <a href="https://twitter.com/fxshaw/status/1814894383982125496?ref_src=twsrc%5Etfw">July 21, 2024</a></blockquote>
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Microsoft's agreement with the European Commission <a href="https://news.microsoft.com/download/archived/presskits/eu-msft/docs/MicrosoftInteroperabilityUndertaking16Dec2009.doc">states</a> that it is obligated to provide application programming interfaces (APIs) to security software makers with the same privileges as the Windows maker.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
On the other hand, Apple is not bound by these restrictions. In fact, in 2020, the company <a href="https://support.apple.com/en-us/HT210999">took</a> away kernel-level access because they are not "as secure or reliable" as their modern alternatives.
See Also: <a href="https://www.benzinga.com/news/24/07/39870313/microsoft-crowdstrike-issue-caused-largest-it-outage-in-history-showing-how-much-we-depend-on-a-hand">Microsoft-CrowdStrike Issue Caused &#8216;Largest IT Outage In History,&#8217; Showing How Much We Depend On A Handful Of Companies</a>
Why It Matters: This revelation comes in the wake of a series of technical issues that have plagued Microsoft.
A defective update from cybersecurity firm CrowdStrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) caused <a href="https://www.benzinga.com/markets/equities/24/07/39854612/windows-pcs-crash-worldwide-with-users-experiencing-blue-screen-of-death-issue-crowdstrike-updat">Windows PCs worldwide to crash</a>, displaying the infamous Blue Screen of Death (BSOD.)
This incident coincided with a widespread <a href="https://www.benzinga.com/markets/equities/24/07/39853528/microsoft-cloud-outage-grounds-flights-disrupts-operations-of-frontier-allegiant-and-sun-country">outage of Microsoft&#8217;s cloud services</a>, which disrupted the operations of banks, airlines, and broadcasters globally.
The faulty update from CrowdStrike was later <a href="https://www.benzinga.com/news/24/07/39875506/crowdstrikes-faulty-microsoft-windows-update-gets-slammed-by-us-cybersecurity-official-was-a-huge-de">criticized by a leading U.S. cybersecurity official</a> as a &#8220;serious mistake&#8221; with significant impacts on critical infrastructure operations worldwide.
The issue also <a href="https://www.benzinga.com/news/24/07/39870321/tesla-ceo-elon-musk-blasts-satya-nadella-after-microsoft-crowdstrike-issue-takes-down-millions-of-co">drew the ire of</a> Tesla Inc. CEO Elon Musk, who blasted Microsoft CEO Satya Nadella for the disruption caused to the global automotive supply chain.
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>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39859372/fbi-reportedly-used-israel-based-security-firms-unreleased-technology-to-crack-trump-shooters-phone?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">FBI Reportedly Used Israel-Based Security Firm's Unreleased Technology To Crack Trump Shooter's Phone</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Global

Tech

AAPL

CRWD

MSFT

Microsoft Blames European Commission Agreement As Reason It Can't Secure Windows Like Apple Secures MacOS After CrowdStrike Outage

In a fun-filled interaction, Elon Musk mischievously said that he is an &#8220;alien scientist,&#8221; reacting to a screenshot of trending search results for the Tesla Inc. CEO.
What Happened: On Monday,&nbsp;DogeDesigner, a pseudonymous X user who works as a graphic designer in the&nbsp;Dogecoin&nbsp;(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) project, shared a hilarious screenshot, showing netizens searching to find out if the tech billionaire is an alien.
Musk, who frequently engages with DogeDesigner, answered in his signature witty style, adding, &#8220;I am an alien scientist operating under a Japanese pseudonym.&#8221;<a href="https://twitter.com/elonmusk/status/1815279791534149712?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1815279791534149712%7Ctwgr%5Eeca2ae6c89d6474f3bcef3d040feed086a67fb9e%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Feditorial.benzinga.com%2Fwp-admin%2Fpost-new.php" target="_blank" rel="noreferrer noopener"></a>
<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">I am an alien scientist operating under a Japanese pseudonym
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1815279791534149712?ref_src=twsrc%5Etfw">July 22, 2024</a></blockquote>
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The remark sparked excitement in the cryptocurrency community, with many believing Musk was Satoshi Nakamoto, the mysterious creator of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).
However, DogeDesigner was quick to silence speculations, humorously saying that the Bitcoin white paper contains no memes, hence Musk cannot be Nakamoto.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Elon Musk is not Satoshi Nakamoto because the Bitcoin white paper contains no memes. <a href="https://t.co/qwgpe7u5cs">pic.twitter.com/qwgpe7u5cs</a>
&mdash; DogeDesigner (@cb_doge) <a href="https://twitter.com/cb_doge/status/1815297148034134369?ref_src=twsrc%5Etfw">July 22, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39875286/bidens-odds-of-finishing-term-drop-sharply-on-crypto-prediction-market-coin-themed-after-p">Analyst Predicts Bitcoin To Soar By 83%, But There&#8217;s One Major Catch: &#8216;We&#8217;re Going To Get That Continuation As Long As &#8230;&#8217;</a>
Why It Matters: Musk&#8217;s tweet, while unusual, isn&#8217;t entirely out of character for the tech mogul known for his eccentric online presence. 
Known for his edgy humor, Musk updated his X profile photo with blue laser eyes, apparently mocking the <a href="https://www.benzinga.com/general/politics/24/07/39874057/biden-drops-out-of-2024-race-in-bombshell-announcement-it-has-been-the-greatest-honor-of-my-life">withdrawal of President Joe Biden from the 2024 presidential race.</a>
For the curious,<a href="https://www.benzinga.com/markets/cryptocurrency/24/02/37071993/dark-brandon-fires-up-bitcoin-community-good-day-for-the-white-house-intern"> Joe Biden adopted the &#8220;Dark Brandon&#8221; meme,</a> featuring him with red laser eyes, as an attempt to hit back at political opponents during his election campaign.
Meanwhile, Musk&#8217;s affinity with Donald Trump grew. At a campaign rally in Michigan,<a href="https://www.benzinga.com/news/24/07/39873661/elon-musk-is-as-smart-as-you-get-says-trump-as-ex-president-tones-down-ev-rhetoric"> Trump referred to Musk as being &#8220;as smart as you get&#8221;</a> and expressed his admiration for the tech entrepreneur.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39875286/bidens-odds-of-finishing-term-drop-sharply-on-crypto-prediction-market-coin-themed-after-p">Biden&#8217;s Odds Of Finishing Term Drop Sharply On Crypto Prediction Market, Coin Themed After President Bleeds 60%</a></li>
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Photo courtesy: Shutterstock

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Elon Musk Jokes He's An 'Alien Scientist With A Japanese Pseudonym,' But Dogecoin Designer Clarifies Tesla CEO Is 'Not Satoshi Nakamoto'

Suzano, the world&#39;s largest market pulp producer, announces the successful operational startup of its new mill, the largest single pulp production line in the world, in Ribas do Rio Pardo, Mato Grosso do Sul state. This marks the completion of one of Brazil&#39;s largest ever private investment projects.
This state-of-the-art facility will have an annual production capacity of 2.55 million tonnes of eucalyptus pulp, increasing Suzano&#39;s production capacity by more than&nbsp;20%&nbsp;to 13.5 million tonnes a year. The project is the result of a total investment of R$ 22.2 billion (~US$4.3 billion), of which R$ 15.9 billion (~US$3.1 billion) was allocated for the construction of the plant and R$ 6.3 billion (~US$1.2 billion) was earmarked for initiatives such as the formation of the planting base and the pulp outbound logistics. Suzano also has the capacity to produce 1.5 million tonnes of paper per year, including sanitary paper, printing and writing and packaging lines, among other products that use pulp as raw material.
&quot;The successful completion of the Cerrado Project reflects the dedication and execution capability of each person involved in this grand and transformative project. It also attests to the culture of excellence that permeates the entire organization, masterfully led by Walter Schalka during his 11-year tenure here&quot;, saysBeto Abreu, newly-named CEO of Suzano. &quot;His vision and ambition have proven key in delivering a world-class mill within the planned budget. Crucially, this is also a project which has, at every stage, adhered to Suzano&#39;s core focus on supporting sustainability and having a positive impact on local communities&quot;, he added.
In line with Suzano&#39;s ESG&nbsp;<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.suzano.com.br%2Fen%2Fsustainability%2Fcommitments&amp;esheet=54097281&amp;newsitemid=20240722940920&amp;lan=en-US&amp;anchor=Commitments+to+Renewing+Life&amp;index=1&amp;md5=3c69c9953bb6b4d28a59669d1007babf">Commitments to Renewing Life</a>, the site has been purpose-built to meet global demand for sustainably produced eucalyptus-based products. The mill will use renewable biomass to produce, on average, 180 MW of surplus green power a month. This energy, which will be directed toward the mill&#39;s local suppliers as well as the national grid, is enough to power a city of up to 2 million inhabitants. The proximity of the mill to Suzano&#39;s eucalyptus farms means emissions and time from logging transportation will be significantly reduced. The structural distance from forest-to-mill is only 65 kilometres on average compared to Suzano&#39;s structural average supply radius of 150 kilometres. The plant will also be self-sufficient in the production of sulfuric acid and hydrogen peroxide.
This is the largest investment in Suzano&#39;s 100-year history and has a series of operational and socio-environmental advances. &quot;The new plant will lay the foundations for future growth opportunities, such as the development of innovative new products from renewable raw material, and strengthen Suzano&#39;s irreplicable business model&quot;, says Walter Schalka, who recently stepped down as CEO of Suzano after an 11-year journey in charge of the company.
The completed project will also have a major impact on both the local community and wider regional economy. Having created as many as 10,000 jobs during the construction phase, the operational mill will now provide 3,000 full-time jobs at the mill and the surrounding forestry and logistic operations.

Suzano's New Eucalyptus Pulp Mill in Brazil Becomes Largest Single Production Line Globally

Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) <a href="https://www.benzinga.com/news/24/03/37864789/gambling-is-not-investing-ross-gerber-reacts-to-trader-who-nearly-wiped-out-his-margin-account-by-ho">weak performance seen since 2022</a> is its own doing and has nothing to do with President Joe Biden&#8217;s policies, said a fund manager on Monday.
What Happened: &#8220;The reason $TSLA hasn't done well under the Biden Presidency has nothing to do with Biden,&#8221; said The Future Fund LLC Managing Partner Gary Black. The fund manager attributed the weakness to Tesla&#8217;s successive price cuts that proved inelastic and did not lift volume, he said.
On the other hand, Tesla benefited from the $7,500 federal electric vehicle tax credit, he pointed out. &#8220;Absent Biden's $7,500 EV credit, TSLA would have done even worse,&#8221; he said.
Black also waded into the election debate. &#8220;Those expecting a [Donald] Trump/[J.D.]Vance landslide in 2024 were getting ahead of themselves since it was pretty clear after the debate that Biden would drop out of the race,&#8221; he said. If Vice President Kamala Harris, who has been endorsed by Biden after he stood down, is way behind Trump in opinion polls, the Democrats are unlikely to put her at the top of the ticket, he added.
&#8220;Right now it's a dead heat, but I predict that will change in Trump's favor in the coming weeks,&#8221; Black said.
See Also:<a href="https://www.benzinga.com/money/best-electric-vehicle-stocks"> Best EV Stocks</a>
Why It&#8217;s Important: Even as Tesla CEO Elon Musk has officially endorsed the Republican presidential nominee, Trump, analysts are divided about the implications of a Trump presidency for the EV maker. Tesla bull Daniel Ives said a second term for Trump would be an overall negative for the EV industry, given the likelihood of the EV rebates/tax incentives getting pulled. But it is a potential positive for Tesla, given the company &#8220;has the scale and scope that is unmatched in the EV industry and this dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment,&#8221; he said.
Stanphyl Capital Managing Member&nbsp;Mark Spiegel sees the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39833163/trump-vance-administration-will-be-terrible-for-tesla-says-bear-elon-musk-has-compl">removal of the $7,500 subsidy impacting Tesla&#8217;s already battered margins. </a>He also sees Trump doing away with the EV mandates, which will likely take away much of Tesla&#8217;s high-margin regulatory credits.
Trump said at the Republican National Convention held last week that he will end federal support for EVs on day one, which he thinks is essential to keep the auto industry from being obliterated. However, at a campaign rally in Michigan on Saturday, Trump toned down his rhetoric against EVs and clarified that he is against only 100% electrification.
Tesla ended Friday&#8217;s session down 4.02% at $239.20, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/07/39874391/tesla-alphabet-gm-ford-lead-earnings-parade-this-week-as-market-struggles-to-sustain-the-summer-">Tesla, Alphabet, GM, Ford Lead Earnings Parade This Week As Market Struggles To Sustain The Summer Rally</a></li>
</ul>
Image Via Shutterstock

TSLA

Elon Musk May Have Endorsed Trump, But Tesla Would Have Done 'Even Worse' Without Biden's $7.5K EV Tax Credit, Says Fund Manager

Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is reportedly in the process of creating a new AI chip, designed to comply with U.S. export controls, specifically for the Chinese market.
What Happened: According to anonymous sources, Jensen Huang&#8217;s Nvidia is teaming up with Inspur, a significant distribution partner in China, to launch and distribute the new chip, provisionally named &#8220;B20.&#8221; The chip is a part of Nvidia&#8217;s &#8220;Blackwell&#8221; series, launched in March, and is set to be mass-produced later this year, Reuters reported on Monday. The B200, a chip within the series, is said to be 30 times faster than its predecessor at certain tasks.
This development follows Washington&#8217;s decision to tighten its controls on semiconductor exports to China in 2023. Since then, Nvidia has created three chips specifically for the Chinese market. The new chip could enhance Nvidia&#8217;s efforts to combat competition from Chinese tech giant Huawei and Tencent-backed startup Enflame.
China contributed to roughly 17% of Nvidia&#8217;s revenue in the year ending January, a decrease from 26% two years prior, due to U.S. sanctions. Despite a slow start, Nvidia&#8217;s most advanced chip for China, the H20, is anticipated to sell over 1 million units this year, generating over $12 billion, as per research group SemiAnalysis.
It is widely expected that the U.S. will continue to apply pressure on semiconductor-related export controls, with initial plans to impose restrictions around the most advanced AI Models.
Nvidia has yet to respond to the queries sent by Benzinga.
See Also: <a href="https://www.benzinga.com/news/24/07/39830453/days-after-elon-musk-deemed-university-of-tokyos-idea-pointless-scientists-develop-smiling-robot-wit?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Days After Elon Musk Deemed University Of Tokyo&#8217;s Idea &#8216;Pointless,&#8217; Scientists Develop Smiling Robot With Living Skin</a>
Why It Matters: The development follows another report that revealed Google and Microsoft are providing<a href="https://www.benzinga.com/news/24/07/39822184/google-and-microsoft-provide-nvidia-chip-access-to-chinese-firms-despite-u-s-restrictions-report"> Chinese companies access</a> to Nvidia AI chips through data centers outside China, despite U.S. restrictions. This was seen as a workaround to the Biden administration&#8217;s restrictions aimed at preventing Chinese firms from utilizing U.S. technology for artificial intelligence, particularly advanced semiconductors.
In July, Nvidia was on track to <a href="https://www.benzinga.com/government/24/07/39646273/is-nvidia-defying-us-export-controls-whats-going-on">sell $12 billion</a> of artificial intelligence chips in China this year despite the U.S. export controls.
Back in May, the Chinese government<a href="https://www.benzinga.com/markets/equities/24/05/38809034/china-urges-tech-giants-to-shift-away-from-nvidia-and-other-foreign-chip-makers-boost-domestic-a"> had urged its tech giants</a> to reduce their reliance on foreign-made chips, particularly those from Nvidia, and increase their purchase of domestic AI chips.
Price Action: As per <a href="https://pro.benzinga.com">Benzinga Pro</a>, Nvidia closed at $117.93 on Friday.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39872729/nvidias-potential-50-trillion-valuation-tesla-and-xais-ai-expansion-plans-and-microsofts-trillion-do?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia&#8217;s Potential $50 Trillion Valuation, Tesla And xAI&#8217;s AI Expansion Plans, And Microsoft&#8217;s Trillion-Dollar Tech: This Week In Artificial Intelligence</a></li>
</ul>
Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

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