Latest news for CoJax Oil & Gas (OTC:CJAX) Stock

CoJax Oil & Gas Corp is an oil and gas exploration and production company, with producing assets in Southwest Alabama. It is engaged in the acquisition and development of lower risk onshore oil and gas producing properties within the Southeastern United States.

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CoJax Oil & Gas Corp

A stunning six-bedroom villa in Puerto Rico has set the <a href="https://www.benzinga.com/m-a/24/08/40483280/exclusive-la-rosa-expands-puerto-rico-footprint-with-acquisition-of-twelfth-franchisee-unveils-multi">island's real estate market</a> ablaze. It recently sold for a record-breaking $20 million. The luxurious property in Dorado Beach's Ritz-Carlton Reserve is now the most expensive property sold in Puerto Rico this year.
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The 14,000-square-foot home boasts jaw-dropping features. These include ocean views, a rooftop terrace, an infinity pool and a movie room with reclining seats. The buyer, whose identity remains undisclosed, reportedly purchased the property fully furnished – paintings, sofas and all. &#8220;The home was sold turnkey,&#8221; said Blanca Hebe Lopez Pierluisi, head of Corcoran Puerto Rico, the agency that brokered the deal, in an email to Business Insider.
Dorado Beach, just 30 minutes from San Juan, has become a magnet for the rich and famous. It's where luxury meets exclusivity. The gated Ritz-Carlton Reserve community is a gem. It offers privacy, high-end amenities and a slice of paradise. &#8220;Celebrities, notable entrepreneurs, renowned athletes, local families and the who&#8217;s who of the island frequent or live here,&#8221; Pierluisi shared.
See Also: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a>
Originally developed by the Rockefellers in the 1950s, Dorado Beach was revamped in 2012 by Ritz-Carlton. The resort now spans 2,000 acres of walking paths, golf cart trails and pristine beachfront.
The villa&#8217;s sprawling one-acre lot was a key selling point. "The rarity of finding a one-acre lot within a five-star gated community was a significant factor," said Pierluisi.
What's causing the buying rush on the island? Puerto Rico's Act 60 is driving its luxury real estate boom. This tax incentive program offers U.S. mainlanders who relocate a 15-year tax break, including a 4% fixed income tax rate and up to a 75% reduction in property taxes. While this has attracted wealthy buyers to the island, it has also stirred controversy. Critics argue it contributes to gentrification and economic disparity.
Trending: Unlock the hidden potential of commercial real estate —<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> This platform allows individuals to invest in commercial real estate offering a 12% target yield with a bonus 1% return boost today!</a>
Still, Act 60 has brought many buyers and boosted the local economy. Billionaires are getting in on the deal – in February, Google's Larry Page reportedly <a href="https://www.benzinga.com/news/24/02/36921680/from-silicon-valley-to-sandy-beaches-google-cofounder-larry-page-reportedly-makes-silent-32m-purchas">purchased a private island </a>off the coast of PR for $32 million. Pierluisi described the market as &#8220;thriving and resilient,&#8221; adding, &#8220;This record-breaking sale is a strong indicator of the sustained demand for diverse property types.&#8221;
So what's inside the villa? The home&#8217;s open-plan design stretches across four levels. Its spacious kitchen connects seamlessly to outdoor patios and gardens, perfect for entertaining. Other features include seven bathrooms, a wine cellar and a pool table lounge.
Pierluisi emphasized that the property offers more than just luxury. It provides an unmatched lifestyle. "Puerto Rico continues to be a desirable destination and a true paradise for those seeking both luxury and a beach lifestyle," she said.
With a median listing price in Dorado of $2.4 million – double that of San Juan – the sale of this $20 million villa shows the growing demand for ultra-luxury homes on the island.
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Real Estate

Tax Breaks Draw Buyers To Puerto Rico As $20 Million Seaside Villa Sets Sales Record

Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) is down 11.5% over the past 24 hours, yet traders remain optimistic about <a href="https://www.benzinga.com/money/dogecoin-doge-price-prediction">its long-term prospects.</a>
What Happened: Despite &#8216;Dogecoin superfan&#8217; Elon Musk on Monday humorously tweeting that "DOGE is inevitable," the apex meme coin has found itself at the receiving end of a market correction. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/DOGE?ref_src=twsrc%5Etfw">@DOGE</a> is inevitable <a href="https://t.co/4AaEr0Sev6">pic.twitter.com/4AaEr0Sev6</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1861075831650697230?ref_src=twsrc%5Etfw">November 25, 2024</a></blockquote>
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<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>Market Cap</td>
<td>24-Hour Trend</td>
<td>7-Day Trend</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>&nbsp;$0.3785</td>
<td>$55.6 Billion</td>
<td>&nbsp;-11.2%</td>
<td>&nbsp;-2%</td>
</tr>
<tr>
<td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td>
<td>&nbsp;$0.00002404</td>
<td>$14.2 Billion</td>
<td>&nbsp;-7.5%</td>
<td>&nbsp;-4.9%</td>
</tr>
<tr>
<td>Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>)</td>
<td>&nbsp;$0.00001808&nbsp;&nbsp;</td>
<td>$7.6 Billion</td>
<td>&nbsp;-10.6%</td>
<td>&nbsp;-11.2%</td>
</tr>
</tbody>
</table>
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Trader Notes: Crypto trader Kevin highlighted that during Dogecoin's previous bull market, DOGE maintained support above the 50-day moving average through multiple tests.
Currently, this moving average stands at $0.22 and is trending upward with each daily close. 
Kevin <a href="https://x.com/Kev_Capital_TA/status/1861226368077357200">believes</a> this support could pave the way for higher prices if DOGE holds near current levels.
Trader Bluntz observed that Dogecoin's current correction may be complete after a two-week sideways pattern. 
He reassured his followers that despite waning interest from some traders, the broader upward trend is intact, with a potential target of $1 or higher before significant profit-taking occurs. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">current <a href="https://twitter.com/search?q=%24doge&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$doge</a> wave 4 looks done here. has been in an upwards sideways running flat correction for 2 weeks now and plenty of people have gotten bored and moved on to chase the next shiny thing. in reality the doge parabola has only just started, no profit taking until $1 minimum… <a href="https://t.co/pU64QUujHq">pic.twitter.com/pU64QUujHq</a>
&mdash; Bluntz (@Bluntz_Capital) <a href="https://twitter.com/Bluntz_Capital/status/1861221442291151268?ref_src=twsrc%5Etfw">November 26, 2024</a></blockquote>
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Statistics: IntoTheBlock data shows large transaction volume increasing by 41.1% and daily active addresses growingw by 34.9%. Coinglass data shows DOGE Derivatives volume is up 5.1% to $15.6 billion, while open interest currently stands at $3.2 billion.
Over the past 30 days, DOGE leads meme coins with a 174.7% gain, outpacing Shiba Inu at 41.4% and Pepe at 98.5%.
Community News: The Dogecoin Foundation announced plans to develop open-source projects and tools that position DOGE as a practical everyday currency. 
Key initiatives include the Dogebox Decentralized Infrastructure System, designed to help businesses self-host online shops and integrate into decentralized payment networks. It also rewards node-runners when Dogecoin is used locally.
With primary funding from Ethereum co-founder Vitalik Buterin and an anonymous donor, the Foundation <a href="https://x.com/DogecoinFdn/status/1860641684910203027">seeks</a> major sponsors to advance its 2025 roadmap for creating a free, decentralized payment ecosystem independent of centralized control.
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Image: Shutterstock

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

Cryptocurrency

News

$DOGE

$PEPE

$SHIB

Dogecoin Drops 12% In A Day: What Is Going On?

SMTC: 19% &#x7C; <a href="https://www.benzinga.com//node/42175658">Semtech shares are trading higher after the company reported better-than-expected Q3 financial results and issued Q4 guidance with its midpoint above estimates.</a>
&nbsp;
RIVN: 8% &#x7C; <a href="https://www.benzinga.com//node/42181208">Rivian Secures Conditional $6.6B DOE Loan Commitment To Expand Electric Vehicle Manufacturing And Development In US</a>
&nbsp;
ALEC: -46% &#x7C; <a href="https://www.benzinga.com//node/42174996">Alector shares are trading lower after the company announced that the INVOKE-2 Phase 2 clinical trial evaluating the safety and efficacy of AL002 in individuals with early Alzheimer's disease failed to meet its primary endpoint.</a>

Movers

Trading Ideas

ALEC

RIVN

SMTC

Market-Moving News for November 26th

Needham analyst Quinn Bolton reiterates Semtech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMTC#NASDAQ">SMTC</a>) with a Buy and raises the price target from $50 to $70.

Price Target

Reiteration

Analyst Ratings

Needham Reiterates Buy on Semtech, Raises Price Target to $70

Michael Saylor&#8216;s MicroStrategy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42090657/microstrategy-upsizes-convertible-notes-offering-to-2-6-billion-for-bitcoin-purchases">recently completed</a> its $3 billion offering of 0% convertible senior notes due 2029. These notes provide the investors with the protection of fixed-income security while enabling them to participate in the equity upside.
What Happened: The sale of the notes was completed in two days as the initial purchasers flocked and exercised the first additional $400 million principal amount on Nov. 20, and the remaining purchase was completed on Nov. 21, 2024.
The notes were offered to qualified institutional buyers with 0% interest and no accretion of principal because of its high conversion rate of 1.4872 class A shares per $1,000 principal amount of notes, equaling an initial conversion price of approximately $672.40.
MicroStrategy&#8217;s conversion price represents a premium of approximately 55% over the Nov. 19 mid-day share price of $433.80.
A convertible note is a hybrid instrument that can be exchanged for equity in the company at a later date. These convertible notes, even though with 0% interest, still favor investors in the event of bankruptcy as bondholders are given repayment priority ahead of shareholders.
At the same time, the conversion feature of these notes eventually helps the debt holders to participate in the equity upside on conversion.
Why MicroStrategy Needs Money
MicroStrategy announced that it used the proceeds from the convertible notes offering and the issuance of shares to acquire 55,500 Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) for $5.4 billion, at an average price of $97,862 per bitcoin, between Nov. 18 and Nov. 24.
As of Nov. 24, 2024, it held 386,700 Bitcoins at a purchase cost of $21.9 billion, at an average price of $56,761.
MicroStrategy&#8217;s &#8220;approach involves adding Bitcoin to the balance sheet, increasing stock volatility, and using convertible debt to enable low-cost capital raises.&#8221; said Bernstein&#8217;s Gautam Chhugani in a <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42160774/microstrategy-is-the-bitcoin-magnet-says-bernstein-but-not-everybodys-sold-nothing-is-free-in-finance-says-one-analyst">recent note</a>.
The Bull Thesis
Bernstein sees MicroStrategy&#8217;s strategy as sustainable under favorable market conditions, raising its price target for the stock to $600 apiece, a 42% upside from its current $421.88 per share.
Bernstein projects MicroStrategy could increase its holdings to 4% of the world&#8217;s Bitcoin by 2033, assuming Bitcoin reaches $1 million per coin.
&#8220;We believe, the MSTR premium is for future growth of its Bitcoin holdings (via capital raise and price appreciation). MSTR today trades at 230% premium over its Bitcoin holdings ($32bn at market value),&#8221; Bernstein analysts said in a recent note.
Terms Of Redemption And Conversion
Furthermore, the conversion rate is subject to adjustment according to certain events. The notes can be converted to shares at the bondholder&#8217;s discretion only after Jun. 1, 2029. Apart from the conversion feature, these notes <a href="https://assets.contentstack.io/v3/assets/bltb564490bc5201f31/blt21a0412a399112c0/673f9c8aacefd59bd6a6c645/microstrategy-completes-3-000-000-000-offering-of-0-percent-convertible-senior-notes-due-2029_11-21-2024.pdf">are also callable</a>. 
MicroStrategy can redeem 100% of the principal amount and call back the bonds on or after Dec. 4, 2026. The company can also call back the bonds on any date if the last reported sale price of MicroStrategy's class A common stock has been at least 130% of the conversion price.
Also read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42160774/microstrategy-is-the-bitcoin-magnet-says-bernstein-but-not-everybodys-sold-nothing-is-free-in-finance-says-one-analyst">MicroStrategy Is The &#8216;Bitcoin Magnet,&#8217; Says Bernstein, But Not Everybody&#8217;s Sold: &#8216;Nothing Is Free In Finance,&#8217; Says One Analyst</a>
Price Action: Shares of MicroStrategy ended 4.37% lower at $403.45 on Monday, falling further by 1.6% to $397 per share in after-hours trading.
On a year-to-date basis, the Nasdaq 100 Index is up 25.76% in 2024, while MicroStrategy outperformed the gauge with 488.81% growth in the same period. Apart from this, MSTR was up 141% and 58% in the last six months and one month, respectively.
According to <a href="https://www.benzinga.com/quote/MSTR/analyst-ratings">Benzinga Pro data</a>, MicroStrategy has a consensus price target of $449.5 based on the ratings of 12 analysts. The high is $690 issued by BTIG on Dec. 11, 2023. The low is $140 issued by Jefferies on Nov. 10, 2022.
The average price target of $563.33 between TD Cowen, Barclays, and Benchmark implies a 41.90% downside for MicroStrategy.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="380" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/26013412/mstr-analyst-1024x380.png" alt="" class="wp-image-664732" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/26013412/mstr-analyst-1024x380.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/26013412/mstr-analyst-300x111.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/26013412/mstr-analyst-768x285.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/26013412/mstr-analyst.png 1060w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Photo courtesy: Wikimedia

Equities

Markets

$BTC

MSTR

Michael Saylor's MicroStrategy Convertible Notes To Buy Bitcoin Offer No Interest, So Why Are Investors Rushing To Buy Them?

Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) is making waves in the semiconductor industry with a $65 billion investment in Arizona, bolstering the U.S.&#8217;s advanced chipmaking capabilities. The U.S. will likely secure the second-largest global market share in advanced semiconductor production by 2027, increasing its share from 9% to 21%, the Taipei Times <a target="_blank" href="https://www.taipeitimes.com/News/biz/archives/2024/11/25/2003827422" rel="noreferrer noopener">cites</a> from a TrendForce Corp report.
Taiwan Semiconductor is developing cutting-edge 3nm, 2nm, and even 1.4nm processes, with mass production of 3nm chips already underway in Tainan, Taiwan.
Also Read: <a target="_blank" href="https://www.benzinga.com/24/11/42168608/nvidias-fugatto-new-ai-model-lets-you-create-sounds-never-heard-before" rel="noreferrer noopener">Nvidia Unveils Fugatto: AI Tool That Transforms Sound Creation For Music, Ads, And Gaming</a>
Two advanced fabs in Arizona will begin production in 2024 and 2028, focusing on 4nm and 3nm processes, respectively. A third fab using 2nm or more advanced technology is expected by 2030.
Taiwan, however, will likely see its share of advanced integrated circuit (IC) processes decline from 71% to 54% by 2027. Despite this, Taiwan will maintain its position as the global leader, per the report.
South Korea will likely experience a dip, dropping from 11% to 9%, relegating it to the third spot globally.
The U.S. government&#8217;s focus on semiconductor self-sufficiency grows as global competition intensifies. Taiwan Semiconductor bagged up to <a target="_blank" href="https://www.benzinga.com/government/regulations/24/11/42011035/just-before-bidens-term-ends-taiwan-semiconductor-lands-6-6-billion-in-us-funding-to-build-advanced-chip-plants" rel="noreferrer noopener">$6.6 billion in U.S. subsidies</a> and $5 billion in proposed loans to build advanced chip plants in Arizona.
A Boston Consulting Group report estimates that U.S. semiconductor manufacturing capacity could triple by 2032, driven by policies like the CHIPS Act. U.S. capital expenditure on semiconductors will likely constitute 28% of the global total between 2025 and 2032.
Taiwan Semiconductor is ramping up <a target="_blank" href="https://www.benzinga.com/24/11/42116366/taiwan-semiconductor-plans-new-factories-annually-boosting-domestic-chip-production" rel="noreferrer noopener">domestic and global expansion efforts</a>. Over the next decade, the company plans to construct new factories annually in Taiwan, with sites in Kaohsiung, Tainan, and Taichung.
The contract chipmaker is also advancing its international projects, including a second facility in Japan&#8217;s Kumamoto region set to begin construction in 2025 and advanced plants in Arizona and Dresden. The company continues to innovate in advanced packaging technologies like CoWoS and SoIC to stay ahead in the semiconductor market.
Taiwan Semiconductor forecasts record capital expenditures between $34 billion and $38 billion to support its growth in 2025.
Advanced Micro Devices, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) has recently tapped Taiwan Semiconductor to foray into the <a target="_blank" href="https://www.benzinga.com/media/24/11/42168509/amd-teams-up-with-taiwan-semi-to-take-on-samsung-in-smartphone-market" rel="noreferrer noopener">smartphone market, leveraging</a> the chipmaker&#8217;s 3nm process to target Samsung&#8217;s flagship models.
Taiwan Semiconductor stock surged over 82% year-to-date.
Price Action: TSM stock is down 0.15% at $184.80 premarket at last check Tuesday.
Also Read:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42171519/snowflake-elastic-poised-for-ai-revolution-gains-analyst-upgrades-the-stocks" target="_blank" rel="noreferrer noopener">Snowflake, Elastic Poised For AI Revolution Gains, Analyst Upgrades The Stocks</a></li>
</ul>
Image via Shutterstock.

Tech

Media

Taiwan Semi's Growth Fuels US Rise To Second In Chipmaking: Report

Matt Garth will depart as chief financial officer on December 31, 2024. Mark Scheiwer, who has served as VP and treasurer since December 2022, will become interim CFO and chief accounting officer on January 1, 2025. Garth, who also was chief administrative officer, will help facilitate a seamless transition during the time leading up to January 1. Scheiwer has more than 13 years of experience in a wide range of finance leadership roles at ScottsMiracle-Gro. The Company will conduct a search for a permanent CFO with the assistance of an executive search firm that is expected to consider internal and external candidates.

ScottsMiracle-Gro Announces CFO Matt Garth's Departure, Names Mark Scheiwer Interim CFO

VinFast Auto (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFS#NASDAQ">VFS</a>) reported quarterly losses of $(0.23) per share which met the analyst consensus estimate. This is a 14.81 percent increase over losses of $(0.27) per share from the same period last year. The company reported quarterly sales of $512.00 million which missed the analyst consensus estimate of $732.16 million by 30.07 percent. This is a 49.42 percent increase over sales of $342.66 million the same period last year.

Earnings

VinFast Auto Q3 EPS $(0.23), Inline, Sales $512.00M Miss $732.16M Estimate

American astrophysicist Neil deGrasse Tyson <a href="https://www.benzinga.com/news/24/10/41546631/neil-degrasse-tyson-calls-elon-musks-mars-mission-a-space-frontier-days-after-his-comments-on-spacex">dismissed</a> SpaceX CEO Elon Musk&#8216;s ambitions to send people to Mars, saying that unless there is a push caused by a shift in geopolitics, it will not be possible as a pure exploration project.
What Happened: &#8220;I have strong views on that. My read of the history of space exploration is such that we do big, expensive things only when it&#8217;s geopolitically expedient, such as we feel threatened by an enemy,&#8221; Tyson said in an <a href="https://www.youtube.com/watch?v=WMzgXHhKarY">interview</a> with Bill Maher. 
The trip to Mars won&#8217;t happen because Musk believes it&#8217;s the next big thing to do, Tyson said, while adding that it would be difficult to gain investment for the Starship project given its high costs and low return on investment. 
&#8220;For him to just say, let&#8217;s go to Mars because it&#8217;s the next thing to do. What is that venture capitalist meeting look like? &#8216;So, Elon, what do you want to do?&#8217; &#8216;I want to go to Mars?&#8217; &#8216;How much will it cost?&#8217; &#8216;$1 trillion.&#8217; &#8216;Is it safe?&#8217; &#8216;No. People will probably die.&#8217; &#8216;What&#8217;s the return on the investment?&#8217; &#8216;Nothing.&#8217; That&#8217;s a five-minute meeting. And it doesn&#8217;t happen,&#8221; he said.
The U.S. will get people to Mars only if there is a geopolitical push like a memo from China that it is planning to put up a military base on Mars, according to Tyson. In that case, the U.S. will aim to get to Mars in ten months and NASA will get the spacecraft from SpaceX for the purpose, he said. 
&#8220;So I don&#8217;t see it happening until governments judge that it&#8217;s geopolitically in our interest,&#8221; Tyson said. &#8220;I got nothing against Mars.&#8221;
According to Tyson, instead of developing Mars to be liveable once Earth becomes unlivable, it would be better to invest in Earth itself.
Why It Matters: Musk, meanwhile, dismissed Tyson. 
&#8220;Wow, they really don&#8217;t get it. Mars is critical to the long-term survival of consciousness. Also, I&#8217;m not going to ask any venture capitalists for money. I realize that it makes no sense as an investment. That&#8217;s why I&#8217;m gathering resources,&#8221; he wrote.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Wow, they really don't get it. Mars is critical to the long-term survival of consciousness. Also, I'm not going to ask any venture capitalists for money. I realize that it makes no sense as an investment. That's why I'm gathering resources. <a href="https://t.co/XVCpHKlusD">https://t.co/XVCpHKlusD</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1860322925783445956?ref_src=twsrc%5Etfw">November 23, 2024</a></blockquote>
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Musk has previously said that SpaceX&#8217;s satellite internet segment called Starlink will fund his vision to travel to Mars aboard the company&#8217;s Starship launch vehicle.
The Starship launch vehicle is currently in the development and testing phase. The company has conducted six test flights of the vehicle to date but without a payload. 
"…I would not be surprised if we fly 400 Starship launches in the next four years,&#8221; SpaceX President and COO&nbsp;Gwynne Shotwell&nbsp;<a href="https://www.benzinga.com/general/space/24/11/42105704/spacex-ceo-elon-musk-reveals-technical-glitch-that-led-company-to-drop-key-objective-of-starships-6th-test-flight" target="_blank" rel="noreferrer noopener">said at the Baron Investment Conference</a>&nbsp;in New York earlier this month.
SpaceX is a privately held company. Unlike Musk's publicly held EV company Tesla, SpaceX&nbsp;<a href="https://www.benzinga.com/24/11/42022150/spacex-to-launch-tender-offer-valuing-company-at-over-250-billion-report" target="_blank" rel="noreferrer noopener">does not divulge its financials</a>&nbsp;periodically. Shotwell said at the conference that the company will make "some money" on Starlink this year.
"We are going to make some money on Starlink this year. But ultimately I think Starship will be the thing that takes us over the top as one of the most valuable companies," she said.
Check out more of Benzinga'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 Next:
<ul>
<li><a href="https://www.benzinga.com/general/space/24/11/42183996/faa-invites-comments-on-increasing-spacexs-starship-launches-by-5x-to-25-next-year">FAA Invites Comments On Increasing SpaceX&#8217;s Starship Launches By 5X To 25 Next Year</a></li>
</ul>
Photos courtesy: Wikimedia and Shutterstock

SPACE

TSLA

Astrophysicist Neil deGrasse Tyson Dismisses Elon Musk's Mars Vision: SpaceX CEO Hits Back, Says 'They Really Don't Get It'

UBS analyst Thomas Wadewitz assumes JetBlue Airways (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) with a Sell rating and announces Price Target of $5.

Initiation

JBLU

UBS Assumes JetBlue Airways at Sell, Announces Price Target of $5

<ul>
<li>AXS-12 statistically significantly reduced the frequency of cataplexy attacks compared to placebo (p=0.017, primary endpoint)</li>
<li>Statistically significant improvement in cognition compared to placebo (p=0.011, NSAQ)</li>
<li>Statistically significant improvement in narcolepsy overall compared to placebo (p=0.024, PGI-C)</li>
<li>Cataplexy response (≥50% improvement) achieved by 72% of patients at 1 month and 82% at 6 months</li>
<li>Improvement in excessive daytime sleepiness (EDS), assessed by the CGI-C, achieved by 84% of patients at 1 month and 78% at 6 months</li>
<li>Improvement in narcolepsy overall, assessed by the CGI-C, achieved by 90% of patients at 1 month and 90% at 6 months</li>
<li>Well-tolerated with long-term safety profile consistent with previously completed trials and no new safety signals detected</li>
<li>NEW YORK, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Axsome The</li>
</ul>

AXSM

Axsome Therapeutics Reveals AXS-12 Meets Primary Endpoint In ENCORE Long-Term Phase 3 Trial In Narcolepsy

UBS analyst Thomas Wadewitz assumes Delta Air Lines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) with a Buy rating and announces Price Target of $88.

UBS Assumes Delta Air Lines at Buy, Announces Price Target of $88

Needham analyst Chris Pierce reiterates Blue Bird (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLBD#NASDAQ">BLBD</a>) with a Buy and announces $66 price target.

BLBD

Needham Reiterates Buy on Blue Bird, Announces $66 Price Target

<ul>
<li>MariTide Demonstrated up to ~20% Average Weight Loss at 52 Weeks Without a Weight Loss Plateau in People Living With Obesity or Overweight</li>
<li>MariTide is the First Obesity Treatment With Monthly or Less Frequent Dosing to Demonstrate Safe and Effective Weight Loss in a Phase 2 Study</li>
<li>In People With Type 2 Diabetes Living With Obesity or Overweight MariTide Demonstrated up to ~17% Average Weight Loss Without a Weight Loss Plateau and Lowered Average HbA1c by up to 2.2 Percentage Points at 52 Weeks</li>
<li>MariTide Delivered Substantial Improvements Across Cardiometabolic Parameters</li>
<li>Amgen Announces "MARITIME," a Phase 3 Clinical Development Program in Obesity and Obesity-Related Conditions</li>
</ul>

Biotech

Health Care

General

AMGN

Amgen Announced Data At 52 Weeks In Phase 2 Study With MariTide (Maridebart Cafraglutide, Formerly AMG 133) Subcutaneously Administered Monthly Or Less Frequently, Showing Up To ~20% Average Weight Loss At Week 52 Without A Weight Loss Plateau

UBS analyst Thomas Wadewitz assumes United Airlines Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) with a Buy rating and announces Price Target of $139.

UBS Assumes United Airlines Holdings at Buy, Announces Price Target of $139

Kohl's Sees FY24 EPS Of $1.20-$1.50 (Prior View: $1.75-$2.25); Projects Net Sales Decrease Of (7)%-(8)%

<ul>
<li>- Upon closing, Arrowhead will receive $825 million immediately, including an upfront payment and an equity investment at a 35% premium, and will receive an additional $250 million paid over five years</li>
<li>- Arrowhead has potential to receive an additional $300 million in near-term clinical trial enrollment-related milestone payments and is eligible for future potential milestone payments up to $10 billion and royalties on sales</li>
<li>- Sarepta to receive investigational treatments that leverage Arrowhead's leading Targeted RNAi Molecule platform</li>
</ul>

ARRW

SRPT

Arrowhead Pharmaceuticals And Sarepta Therapeutics Enter Global License And Collaboration Deal For Genetic Disease Programs

Qualcomm Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) <a href="https://www.benzinga.com/news/24/09/40968128/qualcomm-reportedly-eyes-potential-takeover-of-intel-amid-60-stock-decline-but-antitrust-concerns-lo">interest in acquiring</a> Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) is reportedly waning due to the "complexities" involved.
What Happened: The challenges of executing such a deal with Intel have cooled Qualcomm&#8217;s enthusiasm, <a href="https://www.bloomberg.com/news/articles/2024-11-26/qualcomm-s-takeover-interest-in-intel-is-said-to-cool">Bloomberg</a> reported.
In September, reports suggested that&nbsp;Qualcomm approached&nbsp;Intel for a potential takeover, which would have been a significant merger in the tech sector.
Qualcomm might still consider purchasing parts of Intel or revisiting the idea of a full acquisition in the future.
This comes after Qualcomm outlined its strategy last week to diversify its business, aiming to boost annual revenue by $22 billion by 2029. CEO Cristiano Amon stated in an interview that no major acquisition is currently deemed necessary to achieve this target.
Qualcomm and Intel did not immediately respond to <a href="http://pro.benzinga.com">Benzinga&#8217;s</a> request for comment. 
See Also: <a href="https://www.benzinga.com/24/11/42157390/intels-federal-chips-grant-shrinks-below-8b-as-biden-administration-recalibrates-chips-act-funding-report">Intel&#8217;s Federal Chips Grant Shrinks Below $8B As Biden Administration Recalibrates CHIPS Act Funding: Report</a>
Intel, once a leader in the chip industry, has faced setbacks, losing ground in the AI chip market.
In August, Intel&nbsp;announced a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40168042/intels-10b-cost-cut-seen-as-necessary-but-not-enough-for-competitive-edge-analyst">$10 billion cost-cutting&nbsp;initiative</a>, including workforce reductions and dividend suspension. Analysts have expressed skepticism about the potential deal, citing risks and financial implications for Qualcomm.
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.
Why It Matters: The potential acquisition of Intel by Qualcomm has been a topic of interest since September, when&nbsp;<a href="https://www.benzinga.com/news/24/09/40968128/qualcomm-reportedly-eyes-potential-takeover-of-intel-amid-60-stock-decline-but-antitrust-concerns-lo">Qualcomm reportedly considered the takeover</a>&nbsp;amid Intel&#8217;s 60% stock decline.
However, antitrust concerns have posed significant hurdles. Furthermore,&nbsp;<a href="https://www.benzinga.com/m-a/24/09/40983591/qualcomm-takeover-of-intel-is-logically-unlikely-in-face-of-regulatory-challenges-analyst-says">analysts have expressed doubts</a>&nbsp;about the feasibility of such a merger, citing regulatory challenges.
Adding to Intel&#8217;s challenges, the company is set to <a href="https://www.benzinga.com/24/11/42157390/intels-federal-chips-grant-shrinks-below-8b-as-biden-administration-recalibrates-chips-act-funding-report">receive less than $8 billion</a> in federal CHIPS Act funding, a reduction from the $8.5 billion initially planned. This funding cut comes as Intel struggles to meet its revenue targets with its Gaudi AI chips, as noted by CEO Pat Gelsinger during a third-quarter earnings call. The uptake of these chips has been <a href="https://www.benzinga.com/markets/equities/24/11/41686435/intel-says-it-wont-even-make-500m-from-gaudi-ai-chips-in-2024-despite-nvidia-minting-billions-ce">slower than expected</a>, impacting Intel&#8217;s financial outlook.
Price Action: Qualcomm stock gained 1.3% on Monday to close at $158.82, while Intel's stock rose 1.5% to close at $24.87. Year-to-date, Qualcomm shares are up 13.3%, while Intel's shares are down 48%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
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:
<ul>
<li><a href="https://www.benzinga.com/24/11/42156373/marc-benioff-warns-were-near-the-upper-limits-of-llms-the-future-of-ai-lies-in-autonomous-agents-not-bots-like-chatgpt?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Marc Benioff Says The Future Of AI Not In Bots Like ChatGPT But In Autonomous Agents</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

INTC

QCOM

Qualcomm's Interest In Taking Over Intel Wanes Due To 'Complexities' Involved: Report

UBS analyst Thomas Wadewitz assumes Alaska Air Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>) with a Buy rating and announces Price Target of $72.

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