ARTEMIS ALPHA TRUST ORD by Artemis Alpha Trust Plc Stock (OTC: ATMAF)

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ARTEMIS ALPHA TRUST ORD by Artemis Alpha Trust Plc

Elon Musk&#8216;s SpaceX on Wednesday revealed a conceptual illustration of the spacecraft it is <a href="https://www.benzinga.com/news/24/06/39516687/elon-musks-spacex-wins-843m-contract-for-historic-nasa-mission">designing to deorbit the International Space Station</a> (ISS) and it resembles the company&#8217;s Dragon spacecraft.
What Happened: SpaceX posted the picture on X, while explaining that the spacecraft will have six times more propellant and four times the power of its Dragon spacecraft.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">With 6x more propellant and 4x the power of today's Dragon spacecraft, SpaceX was selected to design and develop the U.S. Deorbit Vehicle for a precise, controlled deorbit of the <a href="https://twitter.com/Space_Station?ref_src=twsrc%5Etfw">@Space_Station</a> <a href="https://t.co/GgtuplTwqQ">https://t.co/GgtuplTwqQ</a> <a href="https://t.co/E23sS7CE4U">pic.twitter.com/E23sS7CE4U</a>
&mdash; SpaceX (@SpaceX) <a href="https://twitter.com/SpaceX/status/1813632705281818671?ref_src=twsrc%5Etfw">July 17, 2024</a></blockquote>
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NASA <a href="https://www.benzinga.com/news/24/07/39574766/spacex-overtakes-ula-in-military-space-missions-as-vulcan-centaur-rocket-experiences-delays">chose SpaceX</a> to develop and deliver the U.S. Deorbit vehicle (USDV) to deorbit the space station and ensure a lack of risk to populated areas in late June. SpaceX will develop the deorbit spacecraft under the contract valued at $843 million and NASA will take ownership afterward and operate it through the mission. 
The space agency said in a statement on Wednesday that the deorbit spacecraft would move the station out of orbit and into a remote area of an ocean at the end of its operations around 2030.
Both the spacecraft and the station are expected to break up through the process of re-entry into Earth&#8217;s atmosphere. Any remnants will subsequently fall harmlessly into the ocean. 
Why It Matters: Which launch vehicle will launch the deorbiting spacecraft into space has not been ascertained to date. 
However, the deorbiting vehicle will be launched about one and a half years before the final re-entry burn, ISS program manager Dana Weigel said in a media teleconference on Wednesday. The crew will stay on <a href="https://www.benzinga.com/news/24/02/36885276/starlab-to-launch-in-single-flight-before-iss-shutdown-thanks-to-spacexs-starship">board the station</a> until 6 months before the final re-entry, they added.
Once the ISS reaches an altitude of about 140 miles, the USDV will &#8220;perform a series of burns to set us up for that final deorbit, and then four days later it will do the final re-entry burn,&#8221; Weigel said.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39811684/tesla-files-trademark-applications-for-cyberberry-and-supercharged-gummies-years-after-ceo-elon-musk" target="_blank" rel="noreferrer noopener">Tesla Files Trademark Applications For Cyberberry And Supercharged Gummies, Years After CEO Elon Musk Teased Making His Own Candy Company</a></li>
</ul>
Photo courtesy: Shutterstock

News

SPACE

Tech

SpaceX Unveils ISS Deorbit Vehicle Design Resembling Dragon Spacecraft With '6X More Propellant And 4X Power'

The CNN Money Fear and Greed index showed a decline in the overall market sentiment, with the index moving to the &#8220;Neutral&#8221; zone on Wednesday.
U.S. stocks closed mixed on Wednesday, with the Nasdaq Composite recording its worst session since Dec. 2022.
On the economic data front, industrial production in the U.S. climbed 0.6% from a month ago in June compared to market estimates of a 0.3% gain. U.S. housing starts increased by 3% from the prior month to an annualized rate of 1,314,000 in June, while building permits climbed by 3.4% to an annual rate of 1.446 million in June.
Semiconductor stocks moved lower on Wednesday amid reports Biden is considering further China restrictions and Trump asking Taiwan to pay the U.S. for defense. Following the ex-president&#8217;s comments Taiwan Semiconductor Manufacturing Company Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) <a href="https://www.benzinga.com/markets/equities/24/07/39813495/why-key-apple-nvidia-supplier-tsmcs-shares-are-plunging-in-wednesdays-premarket">ended the day nearly 8% lower. </a>
Synchrony Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYF#NYSE">SYF</a>) reported better-than-expected second-quarter results on Wednesday. Five Below, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>) shares dipped 25% on Wednesday after the company announced a CEO transition and said comparable sales decreased in the 10-week period ended July 13.
Most sectors on the S&amp;P 500 closed on a positive note, with energy, consumer staples and financials stocks recording the biggest gains on Wednesday. However, communication services and information technology stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 244 points to 41,198.08 on Wednesday. The S&amp;P 500 fell 1.39% at 5,588.27, while the Nasdaq Composite dipped 2.77% at 17,996.92 during Wednesday's session.
Investors are awaiting earnings results from D.R. Horton, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>), Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>) and Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 53.9, the index moved to the &#8220;Neutral&#8221; zone on Wednesday, versus a prior reading of 61.
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.
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</ul>
Image Via Shutterstock

Earnings

Pre-Market Outlook

Markets

Trading Ideas

FIVE

NFLX

Nasdaq Sees Worst Session Since 2022 As Chip Stocks Tumble After Trump's Taiwan Remarks and Biden's Potential Restrictions

Tech stocks sold off on Wednesday, weighed down by comments from Republican presidential nominee Donald Trump and lukewarm forward guidance issued by European chip-equipment maker ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>). Tech venture capitalist and Deepwater Asset Management Managing Partner Gene Munster weighed in on the implications of the geopolitical rhetoric from either side of the aisle for the sector in general and artificial intelligence technology in particular.
What Happened: The Nasdaq Composite Index ended Wednesday&#8217;s session down 2.5% and the Nasdaq 100, comprising 100 of the biggest non-financial tech stocks, fell a steeper 2.94%. The sharp plunge has been triggered by a vortex of geopolitical comments from Trump and President Joe Biden, said Munster in a post on X, formerly Twitter.
&#8220;Trump's comments are part threat and part reality,&#8221; Munster said. Trump threatened to withdraw support for Taiwan, he said, adding that the former president has a history of making threats that he does not follow through on. Munster pointed to the fact that Trump threatened in 2018 about the U.S. exiting NATO, which never materialized.
But in reality, Trump wants to continue supporting Taiwan and &#8220;earn a political win around getting a U.S. ally to &#8216;pay for defense,'&#8221; Munster said. He noted that since 2017 NATO Europe and Canada spending has increased by 28% versus the 20% that the U.S. has been doing.
Regarding Biden&#8217;s comments, Munster noted that the White House wanted to further restrict advanced technology used in building AI to enter China. While companies like ASML were mentioned, greater restrictions could have a negative impact on Nvidia, which could hamper the AI trade in the near term.
See Also: <a href="https://www.benzinga.com/money/best-artificial-intelligence-stocks">Best Artificial Intelligence Stocks</a>
Why It&#8217;s Important: The tech entrepreneur sees politics and regulation slowing down AI&#8217;s progress in the near term, i.e. over the next 1-3 years, by making it more expensive to access the underlying hardware. He, however, sees the technology weathering the headwind.
&#8220;This too will pass given the power of AI will eventually surpass the power of politics. In the end, the substance of AI will exceed the hype,&#8221; he added.
The rally seen in the market since the start of 2023 has been fueled by the hype around AI and its long-term potential. Most analysts, including Munster, believe th<a href="https://www.benzinga.com/markets/equities/24/05/38910879/stock-market-to-rally-for-3-5-years-before-ai-bubble-bursts-predicts-veteran-analyst-gene-munste">e AI bubble will last at least for 3-5 years.</a>
The Global X Artificial Intelligence &amp; Technology ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIQ#NASDAQ">AIQ</a>) ended Wednesday&#8217;s session down 3.33% to $35.72, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/39785281/nvidia-ceo-jensen-huang-and-metas-mark-zuckerberg-set-to-discuss-future-of-ai-and-simulation-at-">Nvidia CEO Jensen Huang And Meta&#8217;s Mark Zuckerberg Set To Discuss Future Of AI And Simulation At SIGGRAPH 2024</a></li>
</ul>
Image Via Shutterstock

Analyst Color

Government

Regulations

Politics

ASML

As Trump-Biden Tough Geopolitical Talk Razes Tech Stocks, Munster Warns Of AI Progress Slowing In Near Term But Says It 'Will Eventually Surpass The Power Of Politics'

With U.S. stock futures trading higher this morning on Thursday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects D.R. Horton, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) to report quarterly earnings at $3.77 per share on revenue of $9.77 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. D.R. Horton shares gained 0.3% to $158.00 in after-hours trading.</li>
<li>Novartis AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>) posted upbeat results for its second quarter on Thursday. The company reported quarterly adjusted earnings of $1.97 per share, topping market estimates of $1.89 per share. Its sales came in at $12.512 billion beating expectations of $12.375 billion. Novartis shares rose 0.04% to $111.85 in the after-hours trading session.</li>
<li>Analysts expect Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>) to post quarterly earnings at $1.10 per share on revenue of $10.37 billion. The company will release earnings before the markets open. Abbott shares rose 0.1% to $104.83 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Taiwan Semiconductor Manufacturing Company Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) reported better-than-expected second-quarter earnings. Taiwan Semiconductor Manufacturing shares gained 2.4% to $175.33 in the after-hours trading session.</li>
<li>Analysts expect Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) to post quarterly earnings at $4.74 per share on revenue of $9.53 billion after the closing bell. Netflix shares rose 0.4% to $649.85 in after-hours trading.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39815137/top-3-industrials-stocks-that-could-sink-your-portfolio-this-month">Top 3 Industrials Stocks That Could Sink Your Portfolio This Month</a></li>
</ul>
Photo courtesy: DR Horton

Equities

D.R. Horton, Netflix And 3 Stocks To Watch Heading Into Thursday

Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>) is scheduled to release its financial results for the second quarter, before the <a href="https://www.benzinga.com/quote/ABT/earnings">opening bell on Thursday, July 18.</a>
Analysts expect the North Chicago, Illinois-based company to report quarterly earnings at $1.10 per share, up from $1.08 per share in the year-ago period. Abbott expects to post revenue of $10.37 billion. It posted $9.7 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On June 14, Abbott declared a quarterly common dividend of 55 cents per share, which represented the 402nd straight quarterly dividend to be paid by the company since 1924.
Abbott shares gained 1.9% to close at $104.68 on Wednesday.
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/ABT/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Goldman Sachs analyst David Roman initiated coverage on the stock with a Buy rating and a price target of $121 on May 30. This analyst has an accuracy rate of 62%.</li>
<li>Citigroup analyst Joanna Wiensch maintained a Buy rating and cut the price target from $128 to $119 on May 22. This analyst has an accuracy rate of 61%.</li>
<li>Barclays analyst Matt Miksic maintained an Overweight rating and lowered the price target from $141 to $140 on April 22. This analyst has an accuracy rate of 67%.</li>
<li>Raymond James analyst Jayson Bedford maintained an Outperform rating and raised the price target from $124 to $127 on Jan. 25. This analyst has an accuracy rate of 67%.</li>
<li>Morgan Stanley analyst David Lewis maintained an Equal-Weight rating and slashed the price target from $112 to $107 on Oct. 19, 2023. This analyst has an accuracy rate of 73%.</li>
</ul>
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</ul>

Price Target

Analyst Ratings

Abbott Gears Up For Q2 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4214030-1&amp;h=1336308177&amp;u=https%3A%2F%2Fclarivate.com%2F&amp;a=Clarivate+Plc" target="_blank">Clarivate Plc</a>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLVT#NYSE">CLVT</a>), a leading global provider of transformative intelligence, today announced a partnership with OhioLINK,&nbsp;Ohio&#39;s&nbsp;academic library consortium, and SearchOhio, a consortium of&nbsp;Ohio&nbsp;public libraries, to develop a new library resource sharing consortial experience.
<a href="https://mma.prnewswire.com/media/1159266/Clarivate_Logo.html" target="_blank"><img alt="(PRNewsfoto/Clarivate Analytics)" src="https://mma.prnewswire.com/media/1159266/Clarivate_Logo.jpg" /></a>
Through this partnership Clarivate will unify OhioLINK and SearchOhio&#39;s resource sharing platforms to enhance library user experiences and services, improve operational efficiencies and build upon existing consortia collaboration. The new solution is expected to be implemented by mid-year in 2025.
The new solution will integrate OhioLINK and SearchOhio&#39;s existing INN-Reach platforms, part of Innovative&trade;, into a single new consortial experience. It will deliver an intuitive and seamless user experience through a unified view of and access to library materials from 45 public library systems and 87 institutions across the state of&nbsp;Ohio. The streamlined user interface will make it easy for patrons to discover library resources and explore new content, improving learning outcomes.

CLVT

Clarivate and Ohio Libraries Partner to Enhance Resource Sharing by 2025

Based on our current business outlook, management expects: And, based on the exchange rate assumption of 1 US dollar to 32.5 NT dollars, management expects: &#x25FC; Grossprofitmargintobebetween53.5%and55.5% &#x25FC; Operatingprofitmargintobebetween42.5%and44.5%

Guidance

Taiwan Semiconductor Expects Q3 Revenue Of $22.4B-$23.2B Vs $22.66B Est, Gross Margin Of 53.5%-55.5%, Operating Margin Of 42.5%-44.5%

Content creator Jimmy Donaldson, popularly known as&nbsp;MrBeast&nbsp;posted pictures with comedian&nbsp;Kevin Hart, sparking speculation among fans about a potential collaboration between the two celebrities.
What Happened: On Wednesday, MrBeast took to Instagram and shared some pictures with Hart humorously referring to him as Twitch streamer Kai Cenat.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18023327/Screenshot-2024-07-18-at-12.03.03%E2%80%AFPM-1024x680.png" alt="" class="wp-image-442258" /><figcaption class="wp-element-caption">Credit: Instagram</figcaption></figure>
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/07/39759624/meta-removes-heightened-penalties-on-donald-trumps-accounts-a-day-after-ex-president-threatens-to-pu?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meta Removes &#8216;Heightened Penalties&#8217; On Donald Trump&#8217;s Accounts A Day After Ex-President Threatens To Put Mark Zuckerberg In Jail</a>
The height difference between Hart and MrBeast, a point of humor during Hart&#8217;s collaboration with Cenat, also caught the attention of fans.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">All my comments on insta are saying I photoshopped this. Nope, Kevin Hart is just short <a href="https://t.co/0hCV4f08lq">pic.twitter.com/0hCV4f08lq</a>
&mdash; MrBeast (@MrBeast) <a href="https://twitter.com/MrBeast/status/1813748023614480868?ref_src=twsrc%5Etfw">July 18, 2024</a></blockquote>
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Why It Matters: MrBeast&#8217;s YouTube channel is immensely popular for its costly stunts and intricate challenges. Born in Greenville, North Carolina, Donaldson started uploading videos to YouTube, a subsidiary of Alphabet, Inc., at the age of 13.
Last month, MrBeast&nbsp;surpassed T-Series&nbsp;to become the most-subscribed YouTube channel, a feat he had pledged to achieve when he had <a href="https://www.benzinga.com/news/24/06/39127424/wow-congrats-say-elon-musk-as-mrbeast-topples-t-series-as-most-subscribed-youtube-channel-finally-av">only half the subscribers of T-Series</a>. 
Following this achievement, MrBeast <a href="https://www.benzinga.com/general/entertainment/24/07/39720279/mrbeast-celebrates-youtube-record-with-new-video-featuring-50-content-creators-competing-fo">celebrated with a video</a> featuring 50 content creators competing for $1 million. &#8220;I recently have become the most subscribed YouTube channel and to celebrate I decided to gather 50 of the largest creators and trap them in a giant glass tube,&#8221; he said in a promotional video.
Photo via Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39765031/at-t-reportedly-pays-hacker-about-400k-to-wipe-stolen-data-security-expert-says-it-was-drop-in-the-o?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">AT&amp;T Reportedly Pays Hacker About $400K To Wipe Stolen Data, Security Expert Says It Was &#8216;Drop In The Ocean&#8217; For The Company: Here&#8217;s Why</a></li>
</ul>
Disclaimer:&nbsp;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.

Entertainment

MrBeast's Instagram Post With Kevin Hart Fuels Collaboration Rumors

Leading biotechnology company Pluri Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUR#NASDAQ">PLUR</a>) (TASE:PLUR) (&quot;Pluri&quot; or the &quot;Company&quot;), which transforms cells into solutions that promote global wellbeing and sustainability, today announced it has signed a tech transfer and manufacturing agreement with&nbsp;<a href="https://www.globenewswire.com/Tracker?data=N9lmuLpKZUjlT6yB-lN9HR266ONu2EDB4Ich9VN3gtaeQ9lASloKULUJ7uskKZhhuEr-WyVx875Qg-cJ4FLbKQ==" target="_blank">Kadimastem</a>&nbsp;Ltd. (TASE: KDST), a clinical stage biotechnology company developing therapeutic cells for ALS and diabetes treatments. PluriCDMO&trade;,&nbsp;<a href="https://www.globenewswire.com/Tracker?data=6kb_ykd0HEFOC8r6I3Zri2fq9yvDp48loaig0iiS7TxGnu6yTbEHjy092YXmFHObLM9of9Ll7eVxM6aywhVNVl00GsgoyCzMLzPlWm3nrZGyAh8rjxiDdeIlX-jmBAlwAjbGIOr4HRTCD4t0Lv4KwebBqttnl5SawPyUvmwiaRlMYKp6WJqq8DJ-GSrXEYgLbQrDAECDJqvc79lEb1IBhudg2TDxZBf8UXzMXjG_dXY=" target="_blank">launched</a>&nbsp;earlier this year, leverages Pluri&#39;s 47,000 square foot good manufacturing practice (GMP) cell production facility to manufacture cell-based products for life science companies. 
&nbsp;
PluriCDMO&trade; will manufacture two cell therapy product candidates for Kadimastem: AstroRx&reg;, clinical grade human astrocytes (nervous system supporting cells) for the treatment of ALS for an upcoming U.S. Food and Drug Administration (FDA) Phase 2a study; and IsletRx, clinical grade pancreatic islet cells which produce and secrete insulin and glucagon in response to blood glucose levels, for the treatment of diabetes.
Key to Kadimastem&#39;s selection of PluriCDMO&trade; is Pluri&#39;s unparalleled expertise and experience in developing and manufacturing cell-based products in GMP grade for clinical use. From initial clinical trial batches to mass scale commercial production, PluriCDMO&trade; is a long-term partner and service provider for the cell therapy production needs of the most innovative companies.

PLUR

Pluri Partners with Kadimastem to Advance Cell Therapy Products for Clinical Trials

Chewy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) founder Ryan Cohen has sparked speculation after posting the word &#8220;TRUMP&#8221; 665 times on Elon Musk&#8216;s social media platform, X.
What Happened: Cohen&#8217;s cryptic message has left the internet abuzz with theories about its meaning. The post comes after Cohen, a Canadian entrepreneur and activist investor, recently endorsed former President Donald Trump following an assassination attempt on Trump.
Several social media users engaged with Cohen&#8217;s post, encouraging others to decode the message, and prompting some to count how many times the word &#8220;TRUMP&#8221; appeared in the text.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP TRUMP…
&mdash; Ryan Cohen (@ryancohen) <a href="https://twitter.com/ryancohen/status/1813687894324002891?ref_src=twsrc%5Etfw">July 17, 2024</a></blockquote>
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Trump was shot and wounded while addressing a campaign rally near Butler, Pennsylvania, on Jul. 13. Cohen, who is also the CEO of GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>), has seen the company&#8217;s stock rise over 7% since the start of the week, following his Trump endorsement.
GameStop has had a strong year in the market, with its stock up by 67% in the first seven months of 2024.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39792248/jim-cramer-says-if-you-sell-this-chinese-ev-stock-now-some-clown-will-be-real-posit?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jim Cramer Says If You Sell This Chinese EV Stock Now, &#8216;Some Clown&#8217; Will Be &#8216;Real Positive About It,&#8217; Wait Until &#8216;All That Stuff Happens&#8217;</a>
Why It Matters: Cohen is known for his business acumen and foresight. His e-commerce venture, Chewy, was founded in 2011 and later sold to PetSmart for $3.35 billion in 2017, marking the largest e-commerce acquisition at the time. Cohen&#8217;s early recognition of the growing trend in pet supplies and pet health products has been <a href="https://www.benzinga.com/trading-ideas/24/07/39756943/ryan-cohen-the-goat-fresh-data-shows-chewy-mastermind-anticipated-massive-trends-in-pet-supplies">praised as a masterstroke</a>.
Meanwhile, the tech industry&#8217;s support for Trump has been a topic of debate. Billionaires, including those from Silicon Valley, have been <a href="https://www.benzinga.com/news/24/06/39244498/ex-white-house-aide-scaramucci-says-silicon-valley-taking-dangerous-approach-by-backing-trump-doesnt">publicly endorsing and fundraising</a> for Trump, a move that has been criticized as a &#8220;dangerous approach&#8221; by some, including former White House Director Anthony Scaramucci.
Musk, the CEO of Tesla Inc., has also been in the spotlight for supporting Trump. Musk, who initially stated that he would not donate to either Trump or Joe Biden in the 2024 presidential election, has since publicly endorsed Trump and <a href="https://www.benzinga.com/news/24/07/39804113/exclusive-elon-musk-is-burning-his-own-blue-bridges-by-donating-to-trump-says-market-expert">reportedly donated millions of dollars</a> to a political action committee.
While the implications of Cohen&#8217;s endorsement and his recent cryptic message are yet to be fully understood, they add an intriguing layer to the ongoing intersection of tech, business, and politics.
Price Action: GameStop stock closed at $27.98, down 1.96% on Wednesday. In after-hours trading, the stock price decreased by 0.64%. Over the past five days, the stock has risen by 10.01%, and year-to-date, it has increased by 67.85%.
Meanwhile, Chewy stock closed at $26.82, showing a decrease of 2.72%. After hours, the stock price slightly increased by 0.037%. Over the past five days, the stock has gained 3.23%; year-to-date, it has risen by 20.00%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
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Image Via Flickr 
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>

CHWY

TSLA

Chewy Founder, GameStop CEO Ryan Cohen Posts 'TRUMP' 665 Times On Elon Musk's X: Cryptic Message Has Internet Guessing

&nbsp;Inventiva (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IVA#NASDAQ">IVA</a>) (&quot;Inventiva&quot; or the &quot;Company&quot;), a clinical-stage biopharmaceutical company focused on the development of oral small molecule therapies for the treatment of patients with metabolic dysfunction-associated steatohepatitis (&quot;MASH&quot;), also known as non-alcoholic steatohepatitis (&quot;NASH&quot;), and other diseases with significant unmet medical needs, today announced the issuance of royalty certificates (the &quot;Royalty Certificates&quot;) subscribed by Samsara BioCapital, BVF Partners, NEA, Sofinnova, and Yiheng, for an amount of approximately &euro;20.1 million &nbsp;(the &quot;Transaction&quot;).
Frederic Cren,&nbsp;Chairman, Chief Executive Officer, and cofounder of Inventiva stated: &quot;Besides extending our cash runway, this agreement demonstrates the commitment from our key shareholders to continue the development of lanifibranor. We are also pleased to have gained the interest and support of Samsara BioCapital, a leading U.S. specialized fund. With this transaction completed, we continue to focus on advancing the development of lanifibranor, one of the most promising drugs in MASH/NASH, and we are pursuing our evaluation of strategic and financing options to fully support its development.&quot;
Reasons for the issuance and use of the proceeds of the Transaction
The Company intends to use approximately&nbsp;95%&nbsp;of the net proceeds from the Transaction to continue the NATiV3 Phase III trial of lanifibranor in MASH/ NASH (&quot;NATiV3&quot;) and the remainder for general corporate purposes.
Before giving effect to the Transaction and the cash preservation measures implemented by the Company with its creditors, considering the Company&#39;s cost structure and forecasted expenditures, the Company estimated that its cash, cash equivalents and deposits allowed the Company to fund its operations as planned until the beginning of the&nbsp;third quarter&nbsp;of 2024. As of June 30, 2024, the Company&#39;s cash and cash equivalents are estimated (non-audited) to be &euro;10.1 million, compared with &euro;9.6 million, &euro;0.1 million2&nbsp;of short-term deposits and &euro;10 million3&nbsp;of long-term deposits as of May 31, 2024.
Considering its current cost structure and forecasted expenditures and including the proceeds of approximately &euro;20.1 million from the issuance of the Royalty Certificates and the cash preservation measures in the short term set up by the Company with its creditors, the Company estimates that its cash, cash equivalents and deposits should allow the Company to fund its operations through September 2024. These factors raise substantial doubt regarding the Company&#39;s ability to continue as a going concern beyond the end of September 2024.
The Company explored a variety of options, including the issuance of debt, equity and other instruments, prior to deciding to enter into the Transaction. In order to finance its activities beyond the end of September 2024, the Company will need to raise additional funds, and it is continuing to actively review potential financing (including debt, equity and equity-linked or other instruments) and strategic options.
Main characteristics of the Transaction
The Royalty Certificates are being issued pursuant to a decision of Board of Directors on July 16, 2024, in accordance with the provisions of Article L. 228-36-A of the French Commercial Code (Code de commerce) to one new investor and existing shareholders.
The Royalty Certificates give the holders thereto the right to an annual payment of royalties (the &quot;Royalties&quot;) equal to&nbsp;3%&nbsp;of the future net sales of lanifibranor (the &quot;Product&quot;), if any, beginning on the fiscal year following the start of the sales of the Product following the potential granting of the market authorization (Autorisation de mise sur le march&eacute;) for the Product in (i) the United States of America or (ii) the countries of the European Union or (iii) the United Kingdom, whichever occurs the first.
The Royalty Certificates do not have any additional financial rights besides the right to payment of Royalties referred to above. Specifically, the Royalty Certificates do not grant any financial rights on any other products that may be developed by the Company beyond lanifibranor.
The subscription price for the Royalty Certificates is &euro;20.1 million and has been calculated taking into account the net present value (&quot;NPV&quot;) of expected cash flows related to the Royalty Certificates and the current financial position of the Company. The NPV calculation depends strongly on assumptions made by the Company with regards to the chances of success of its studies, the commercialization calendar of lanifibranor, the market size addressed for lanifibranor, the market share of the product and the discount rate. In the process of setting the discount rate, the Company analyzed the expected cash flow derived from its business plan as regards to its market capitalization.
The Royalty Certificates have a term of 14 years following their issuance and do not provide for an accelerated repayment in case of change of control. The Company may at any time repurchase in full the Royalty Certificates by paying a price to be agreed between the Company and the holders of the Royalty Certificates. The Company may also redeem the Royalty Certificates from each holder, subject to offering such redemption to every holders. Lastly, the Company has a pre-emptive right in the event of the sale of Royalty Certificates by a holder.
The holders of Royalty Certificates are subject to a 6-month lock-up period after which the Royalty Certificates will become freely transferable (in whole or in part, provided that the transfer involves a minimum number of 10 Royalty Certificates) only pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended, (the &quot;Securities Act&quot;)and to qualified investors pursuant to Article 2(e) of Regulation (EU) 2017/1129. The Company will have a preemptive right on any transfer of Royalty Certificates.
Settlement and delivery of the Royalty Certificates is expected to occur on July 22, 2024. The Royalty Certificates will not be listed on any stock exchange and will not be assigned an ISIN. The closing of the Transaction is subject to the satisfaction of customary closing conditions.
It is reminded that these Royalty Certificates are independent from the royalty certificates issued in August 2023, and do not have the same characteristics (see the Company&#39;s press release published on August 31, 2023) (the &quot;2023 Royalty&nbsp;Certificates&quot;).
The Royalty Certificates will be issued in a private placement exempt from registration under the Securities Act and have not been, and will not be, registered under the Securities Act, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
The issue and subscription of the Royalty Certificates will not result in any change in the shareholder structure (for a description of the share capital, please refer to section 6.1.1 of the Company&#39;s 2023 Universal Registration Document dated April 3, 2024).

Inventiva Secures €20.1M in Funding to Advance NASH Treatment

NDAQ

Nasdaq And valantic FSA Partner To Develop Web UI For Fixed Income Trading

Macro Economic Events

Econ #s

Economics

U.K. Unemployment Rate For May Unchanged At 4.4%

U.K. Employment Change 3M/3M (MoM) For May 19K Vs. 18K Est.; -140K Prior

U.K. Claimant Count Change For June 32.3K Vs. 23.4K Est.; 51.9K (Revised) Prior

U.K. Average Earnings Index +Bonus For May 5.7% Vs. 5.7% Est.; 5.9% Prior

Taiwan Semiconductor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) reported quarterly earnings of $1.48 per share which beat the analyst consensus estimate of $1.40 by 5.71 percent. This is a 29.82 percent increase over earnings of $1.14 per share from the same period last year. The company reported quarterly sales of $20.820 billion which beat the analyst consensus estimate of $20.232 billion by 2.90 percent. This is a 32.78 percent increase over sales of $15.680 billion the same period last year.

Earnings Beats

Taiwan Semiconductor Q2 2024 GAAP EPS $1.48 Beats $1.40 Estimate, Sales $20.820B Beat $20.232B Estimate

TSMC Second-Quarter Consolidated Revenue Of NT$673.51B (+40.1% YoY), Net Income Of NT$247.85B (+9.9% YoY), And EPS NT$9.56 ($1.48 Per ADR Unit)

Microsoft Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has launched its AI image generation tool, Microsoft Designer, as a free iOS app, outpacing Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) <a href="https://www.benzinga.com/news/24/07/39568584/apple-ai-partnership-with-google-set-for-fall-mark-gurman-says-hes-heard-from-several-sources-the-de">as the world waits for the</a> iPhone maker to introduce Apple Intelligence.
What Happened: Microsoft Designer is now available to all users across multiple platforms, including iOS, Android, and Windows. It was in preview for nearly a year and tested on a website using Microsoft Edge and other browsers.
&#8220;A blank canvas no longer has to be intimidating—just describe what you want to see, and Designer can create it for you. And if you're not sure what that is, Designer can help you get started,&#8221; the company said while launching.
The app enables users to <a href="https://www.benzinga.com/news/23/10/35409188/microsoft-bings-dall-e-3-powered-ai-image-generator-spins-1-8b-masterpieces-heres-how-to-use-it">generate images using text prompts</a> and provides templates for creating social media images and greeting cards. It also includes an avatar creation tool&nbsp;and options to edit existing&nbsp;images, including background and object removal or alteration.
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.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="570" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18014932/Designer-Homepage-desktop-mobile-hi-res-2048x1140-1-1024x570.webp" alt="" class="wp-image-442206" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18014932/Designer-Homepage-desktop-mobile-hi-res-2048x1140-1-1024x570.webp 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18014932/Designer-Homepage-desktop-mobile-hi-res-2048x1140-1-300x167.webp 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18014932/Designer-Homepage-desktop-mobile-hi-res-2048x1140-1-768x428.webp 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18014932/Designer-Homepage-desktop-mobile-hi-res-2048x1140-1-1536x855.webp 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/18014932/Designer-Homepage-desktop-mobile-hi-res-2048x1140-1.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Credit: Microsoft</figcaption></figure>
Although the app is free, it restricts users to 15 &#8220;boosts&#8221; per day, which are used&nbsp;when AI-based changes are made&nbsp;to images. Users can&nbsp;upgrade to a $20 Copilot&nbsp;Pro subscription for 100 boosts per day.
Why It Matters: The launch of Microsoft Designer comes ahead of the expected release of Apple Intelligence, Apple&#8217;s own generative AI image tool, slated for release this fall.
Earlier this year, Microsoft expressed concerns over an agreement between&nbsp;OpenAI and Apple, fearing it could impact <a href="https://www.benzinga.com/news/24/05/39109729/openais-apple-deal-sparks-concerns-in-microsoft-could-shift-ai-market-dynamics">Microsoft&#8217;s product ambitions</a>. In July, Microsoft decided to&nbsp;relinquish its <a href="https://www.benzinga.com/markets/equities/24/07/39703459/microsoft-relinquishes-observer-role-on-openais-board-says-it-is-confident-in-companys-direction">board observer position at OpenAI</a>.
Meanwhile, Wedbush Securities' Daniel Ives predicted a &#8220;monumental boost&#8221; to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39776594/microsofts-iphone-moment-wedbush-analyst-dan-ives-expects-ai-to-add-1-trillion-to-v">Microsoft's valuation due to the AI</a> revolution, potentially adding a whopping $1 trillion to its market cap.
Photo courtesy: Shutterstock
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39776594/microsofts-iphone-moment-wedbush-analyst-dan-ives-expects-ai-to-add-1-trillion-to-v?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Microsoft&#8217;s &#8216;iPhone Moment&#8217;? Wedbush Analyst Dan Ives Expects AI To Add $1 Trillion To Valuation</a></li>
</ul>
Disclaimer:&nbsp;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.

AAPL

MSFT

Microsoft Outpaces Apple, Introduces 'Designer' AI Image Generation Tool For The iPhone

Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>) founder Charles Hoskinson waded into the debate around mixing politics with cryptocurrencies, unequivocally urging to vote for parties and leaders seen as friendly towards the industry.
What Happened: Co-founder of Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), Vitalik Buterin, raised eyebrows with his X post on Wednesday <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39825744/vitalik-vs-trump-donors-ethereum-co-founder-says-hes-against-choosing-your-political-alleg">that warned against preferring political leaders based on how supportive</a> they are to cryptocurrency.&nbsp;&nbsp;
In response, Hoskinson, who is also one of the original founders of the project, sharply differed with the view.&nbsp;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">My first goal has always been to keep government out of crypto completely. In the places where that&#39;s not possible, the choice is pretty clear. If they want a CBDC, sue non-custodial wallets, systematically jail the leaders of Crypto, call everyone a security, and bully and… <a href="https://t.co/T7qZwPdJPA">https://t.co/T7qZwPdJPA</a>
&mdash; Charles Hoskinson (@IOHK_Charles) <a href="https://twitter.com/IOHK_Charles/status/1813672240388747740?ref_src=twsrc%5Etfw">July 17, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
He advocated voting against parties and candidates who want to introduce Central Bank Digital Currencies, "systematically" jail top names within the cryptocurrency industry, and label all assets as securities.&nbsp;
See Also:<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39359780/dogecoin-shiba-inu-floki-are-dino-coins-says-trader-he-likes-these-3-other-meme-coins-as-b?itm_source=parsely-api"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39830311/arthur-hayess-maelstrom-fund-unveils-grant-program-to-boost-bitcoin-development-as-loyal-f">Arthur Hayes&#8217;s Maelstrom Fund Unveils Grant Program To Boost Bitcoin Development: &#8216;As Loyal Followers Of Lord Satoshi, We Are Doing Our Part&#8217;</a>
No prizes for guessing, Hoskinson's dig was at the incumbent Joe Biden-led administration, <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38841071/cardano-founder-charles-hoskinson-accuses-biden-administration-of-attempting-to-kill-crypt">whose policies he has severely criticized in the past</a>.
He ended his post by saying, "A vote for Biden is a vote for the death of the American crypto industry. In 2024, be a single issue. Vote for pro-crypto candidates."
Why It Matters: Hoskinson and Buterin have had a long-standing rivalry that dates back to disagreement over the long-term vision of Ethereum. <a href="https://www.benzinga.com/markets/cryptocurrency/22/02/25823645/5-things-you-might-not-know-about-charles-hoskinson-cardano-founder-and-ethereum-co-founde">Hoskinson left the project </a>in 2014 and went on to find Cardano as a competitor to Ethereum.
The two take occasional swipes at each other. In one instance, Hoskinson even indicated his willingness to take on Buterin in an MMA fight, saying, "I&#8217;d train very hard for that one.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I&#39;d train very hard for that one
&mdash; Charles Hoskinson (@IOHK_Charles) <a href="https://twitter.com/IOHK_Charles/status/1761277742094651785?ref_src=twsrc%5Etfw">February 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
In a previous <a href="https://www.reddit.com/r/cardano/comments/14x3aa9/ive_heard_hes_matured_vitalik_buterin_on_charles/">interview</a>, Buterin stated that &#8220;Charles has matured and progressed in a lot of ways,&#8221; and that he is very different from who he was in 2014.
Price Action: At the time of writing, Ethereum is exchanging hands at $3,419.25, down 2.51% 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>. ADA is trading at $0.4356, following a drop of 2.41%.
Photo by Dennis Diatel on Shutterstock
Read Next:&nbsp;
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Ethereum Co-founder Charles Hoskinson Differs With Old Rival Vitalik Buterin On Mixing Crypto And Politics: 'A Vote For Biden Is A Vote For The Death Of The American Crypto Industry'

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