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Cresco Labs

Cresco Labs Inc is a vertically-integrated multi-state cannabis operator in the United States licensed to cultivate, manufacture and sell retail and medical cannabis products through Sunnyside, Cresco Labs' national dispensary brand and others. The Company operates in one segment, the cultivation, manufacturing, distribution and sale of cannabis.

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&#34;Our new combined organization will best position the industry to help the President get them over the finish line,&#34; says Trulieve CEO Kim Rivers.

&#39;President Trump&#39;s Endorsement Represents A Sea Change In Cannabis Policy,&#39; Says Trulieve CEO As Advocacy Groups Join Forces

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CURALEAF HLDGS INC by Curaleaf Hldgs Inc.

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DEA judge orders agency to respond to allegations of opposing marijuana rescheduling and improper communication with opponents. Cannabis stocks declined in 2024 due to concerns about DEA review.

DEA Accused Of Bias In Cannabis Rescheduling Hearings: Weed Stocks Plummeted In 2024 As Process Drags On

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Surgeon general warns about alcohol&#39;s cancer risk, suggests updates to health labels. Cannabis stocks largely rise while alcohol stocks drop.

EXCLUSIVE: Cannabis Physician Says Surgeon General&#39;s Alcohol Cancer Risk Warning Is &#39;Wake-Up Call&#39;

Cresco Labs Inc

TikTok-parent ByteDance is reportedly gearing up to invest over $12 billion in artificial intelligence infrastructure by 2025.
What Happened: The Beijing-based tech giant has allocated approximately RMB 40 billion ($5.5 billion) for AI chip acquisitions within China, effectively doubling its expenditure from the previous year, <a href="https://www.ft.com/content/0815c8fb-e6ed-478b-abb1-c67d6f48fd3a">reported</a> the Financial Times, citing two people familiar with the plans.
ByteDance also plans to invest around $6.8 billion overseas to <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/12/42725613/tiktok-parent-plans-7-billion-ai-push-with-nvidia-chips">improve its model training</a> capabilities using advanced Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) chips.
About 60% of ByteDance&#8217;s domestic semiconductor orders are expected to be fulfilled by Chinese suppliers like Huawei Technologies and Cambricon. The remaining orders will involve Nvidia chips modified to comply with U.S. export restrictions, the report noted.
See Also: <a href="https://www.benzinga.com/25/01/43151196/samsung-google-team-up-to-develop-ar-glasses-entering-the-race-against-meta-and-apple">Samsung, Google Team Up On AR Glasses Development, Duo To Enter Race Against Meta And Apple</a>
Why It Matters: This substantial investment is part of ByteDance&#8217;s strategy to expand its AI infrastructure and maintain its competitive edge in the AI sector.&nbsp;
However, it may encounter challenges due to U.S. export controls aimed at limiting Chinese access to sensitive technologies.
ByteDance is currently the <a href="https://www.benzinga.com/media/24/12/42382237/tiktok-parent-bytedance-now-nvidias-largest-asian-chip-customer-races-ahead-of-alibaba-and-baidu-to-dominate-chinas-generative-ai-market-report">largest buyer of Nvidia chips</a> in Asia, surpassing competitors such as Alibaba and Baidu.
The TikTok parent is restricted to purchasing less advanced chips like Nvidia&#8217;s H20, which are specifically designed with reduced capabilities to comply with U.S. export restrictions for Chinese data centers.
In 2024, ByteDance reportedly procured around 230,000 Nvidia chips, primarily H20 models, according to estimates from tech consultancy Omdia.
For comparison, Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) acquired approximately 485,000 of Nvidia&#8217;s more advanced "Hopper" chips during the same period, while Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) purchased 224,000.
ByteDance is also under significant pressure in its primary social media business. TikTok resumed operations for 170 million U.S. users on Sunday. On Monday, President Donald Trump issued an executive order allowing TikTok to remain operational for 75 days.
However, he underscored his expectation for a U.S. company to acquire a 50% ownership stake in the app and hinted at the possibility of imposing tariffs on China if a deal was not reached.
Read Next:
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<li><a href="https://www.benzinga.com/25/01/43152627/microsoft-ceo-satya-nadella-stands-firm-after-elon-musk-questions-stargates-100-billion-funding-potential-all-i-know-is-im-good-for-my-80-billion">Satya Nadella Stands Firm After Elon Musk Questions Stargate&#8217;s $100 Billion Funding Potential: &#8216;All I Know Is, I&#8217;m Good For My $80 Billion&#8217;</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

MSFT

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TikTok-Parent ByteDance Plans $12 Billion AI Chip Investment In 2025 To Bolster Global AI Ambitions Amid US Export Controls: Report

BMO Capital analyst Jack Matten initiates coverage on Prudential Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRU#NYSE">PRU</a>) with a Underperform rating and announces Price Target of $101.

Price Target

Initiation

Analyst Ratings

BMO Capital Initiates Coverage On Prudential Financial with Underperform Rating, Announces Price Target of $101

Renowned investor Cathie Wood, CEO of Ark Invest believes President Donald Trump&#8217;s second administration could breathe new life into the struggling initial public offering landscape, potentially creating significant opportunities for investors and venture funds.
What Happened: In a recent Bloomberg ETF IQ interview, Wood highlighted the potential for regulatory changes that could dramatically transform public markets. &#8220;I hope regulatory changes will revive the public markets,&#8221; she <a href="https://www.bloomberg.com/news/videos/2025-01-22/cathie-wood-on-ark-etfs-ipos-m-a-tiktok-video">stated</a>, noting that the number of publicly traded companies has halved over the last two decades.
Wood&#8217;s ARK Investment Management sees particular promise in innovation-driven sectors, especially healthcare and artificial intelligence. 
She specifically pointed to her ARK Genomic Revolution ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKG#BATS">ARKG</a>) as an underestimated investment, anticipating substantial changes in biotech and pharmaceutical <a href="https://www.benzinga.com/general/biotech/24/11/42206182/cathie-wood-sees-400b-opportunity-in-biologics-how-have-her-bets-fared">markets where $400 billion</a> in revenue is set to go off-patent within five years.
See Also: <a href="https://www.benzinga.com/news/25/01/43152917/elon-musk-led-doge-targets-us-penny-over-179m-annual-production-cost">Elon Musk&#8217;s DOGE Takes Aim At The US Penny Citing Soaring Production Costs</a>
Why It Matters: The investor expressed optimism about potential liquidity events that have been constrained during the previous administration. &#8220;We believe the IPO market will open up and give us opportunities to diversify our portfolios,&#8221; Wood said.
Specific sectors Wood highlighted include autonomous technology, with robotaxis representing a significant AI application, and healthcare transformation. She emphasized the potential for technological innovation, particularly in multi-omics and genomics spaces.
The potential market shifts come amid broader economic discussions. Former Treasury Secretary Larry Summers has warned about possible economic disruptions from proposed policies, suggesting <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42183404/cathie-wood-bets-on-thriving-ipo-market-under-trump-will-giveliquidity-events-that-they-have-not-enjoyed-during-the-last-four-years">significant macroeconomic implications</a> could accompany potential market changes.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/01/43152627/microsoft-ceo-satya-nadella-stands-firm-after-elon-musk-questions-stargates-100-billion-funding-potential-all-i-know-is-im-good-for-my-80-billion">Satya Nadella Stands Firm After Elon Musk Questions Stargate&#8217;s $100 Billion Funding Potential: &#8216;All I Know Is, I&#8217;m Good For My $80 Billion&#8217;</a></li>
</ul>
Image via Benzinga YouTube and Unsplash
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

ARKG

Cathie Wood Sees Trump's Second Term Reviving IPO Market, Unlocking Opportunities In Biotech And AI Sectors

BMO Capital analyst Jack Matten initiates coverage on Aflac (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AFL#NYSE">AFL</a>) with a Market Perform rating and announces Price Target of $111.

BMO Capital Initiates Coverage On Aflac with Market Perform Rating, Announces Price Target of $111

BMO Capital analyst Jack Matten initiates coverage on Primerica (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRI#NYSE">PRI</a>) with a Market Perform rating and announces Price Target of $311.

BMO Capital Initiates Coverage On Primerica with Market Perform Rating, Announces Price Target of $311

BMO Capital analyst Jack Matten initiates coverage on Unum Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNM#NYSE">UNM</a>) with a Outperform rating and announces Price Target of $91.

BMO Capital Initiates Coverage On Unum Gr with Outperform Rating, Announces Price Target of $91

Earnings

Earnings Beats

TAL Education Q3 2025 Adj. EPADS $0.06 Beats $0.04 Estimate, Sales $606.446M Beat $542.189M Estimate

Cryptocurrency index fund manager Bitwise Asset Management filed for a Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) exchange-traded fund on Wednesday, prompting analysts to forecast big returns for the dog-themed meme coin.
What happened: Bitwise submitted the ETF <a href="https://icis.corp.delaware.gov/eCorp/EntitySearch/NameSearch.aspx?_=1737585406503">filing </a>to Delaware's Department of State's Division of Corporations. The filing was made under the entity name BITWISE DOGECOIN ETF, with CSC Delaware Trust Company listed as the registered agent.
While Bitwise didn't immediately return Benzinga's request to confirm the filing, leading ETF analyst Eric Balchunas said on X that the filing was legitimate.
<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">Bitwise Doge ETF likely coming soon.. and yes I checked and this is def legit (vs some whack job committing forgery for a quick pump a la BlackRock XRP that one time). <a href="https://t.co/MxoswD0IFy">pic.twitter.com/MxoswD0IFy</a>
&mdash; Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1882202309293433217?ref_src=twsrc%5Etfw">January 22, 2025</a></blockquote>
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See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43151588/cathie-wood-was-asked-if-she-would-buy-trump-coin-heres-what-she-said">Cathie Wood Was Asked If She Would Buy TRUMP Coin, Here&#8217;s What She Said</a>
The Delaware registration is typically the first step in the ETF listing process and still requires an official filing with the SEC.&nbsp;
Similar listings were seen previously for iShares Bitcoin Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) and iShares Ethereum Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETHA#NASDAQ">ETHA</a>), and even the <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41134111/after-bitcoin-ethereum-an-xrp-etf-bitwise-registers-filing-in-delaware-amid-rippe-vs-sec-l">XRP ETF</a> filed by Bitwise last year.
Following the filing, Ali Martinez, a well-known cryptocurrency analyst and trader, issued a massively bullish price target of $15 for Dogecoin. At the current price, this pointed to a staggering upside of 4140.88%
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a> ETF will send it to $15! <a href="https://t.co/4peKi93NZX">https://t.co/4peKi93NZX</a> <a href="https://t.co/gRqDdoXhob">pic.twitter.com/gRqDdoXhob</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1882196406800445537?ref_src=twsrc%5Etfw">January 22, 2025</a></blockquote>
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Why It Matters: Bitwise&#8217;s registration comes after REXShares and Osprey filed numerous ETF applications with the SEC earlier this week, <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43105356/meme-coin-supercycle-dogecoin-trump-bonk-futures-etf-applications-filed">including one</a> for Dogecoin.
These filings were factored into prediction markets, as the odds of a Dogecoin ETF being approved in 2025 <a href="https://polymarket.com/event/doge-etf-approved-in-2025">increased </a>from 36% to 53% on Polymarket before stabilizing at 48% as of this writing.
Meanwhile, the iconic Shiba Inu imagery, a symbol closely tied to Dogecoin's popularity, <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43140690/dogecoin-drops-6-after-doge-department-removes-logo">was removed</a> from the Elon Musk-headed Department of Government Efficiency&#8217;s website.
Price Action: At the time of writing, Dogecoin was exchanging hands at $0.3535, down 3.07% 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>. Year-to-date, the cryptocurrency has gained 8.43%.&nbsp;
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/25/01/43150952/blackrock-ceo-larry-fink-says-bitcoin-could-rise-to-700000-on-monetary-debasement-political-instability-fears">Blackrock CEO Larry Fink Says Bitcoin Could Rise To $700,000 On Fiat Fears: &#8216;If You&#8217;re Frightened Of The Debasement…&#8217;</a></li>
</ul>
Image via Shutterstock

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

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$DOGE

ETHA

IBIT

Bets Favoring Dogecoin ETF Approval In 2025 Jump After Bitwise's Delaware Filing—Top Trader Paints Over 4000% Upside For Memecoin

Elon Musk&#8216;s rocket manufacturing company SpaceX intends to put up a SpaceX Gigabay at Cape Canaveral in Florida by Aug. 2026, according to a new filing with the Federal Aviation Administration. 
What Happened: According to the filing, construction is planned to start in April this year and the vertical integration facility will be 380 feet tall and expected to handle the assembly and integration of SpaceX&#8217;s Starship launch vehicle.
All development and manufacturing of the Starship currently takes place at Starbase in Texas. All of the Starship's past test flights were launched from the commercial spaceport in Cameron County near the Gulf of Mexico.
However, in May, Musk took to social media and said the company aims to build two Starship towers at Cape Canaveral in Florida, hinting at plans to launch Starships from the state. While one of the two towers is expected to be at Kennedy Space Center Launch Complex 39A, the location for the second is still under consideration, the CEO said.
"We&#8217;re aiming to build two towers at the Cape for Starship, one at 39A and another tbd (we don&#8217;t have final approval yet)," Musk wrote.
Why It Matters:&nbsp;The Starship vehicle is part of big dreams. While NASA is looking forward to landing humans back on the surface of the Moon after a gap of over 50 years with the help of a&nbsp;<a href="https://www.benzinga.com/24/11/42108681/spacex-shows-off-conceptual-version-of-starship-which-will-help-humans-land-back-on-moon-in-over-50-yrs" target="_blank" rel="noreferrer noopener">custom version of Starship</a>, Musk is dreaming of taking&nbsp;<a href="https://www.benzinga.com/news/24/09/40770222/elon-musk-sets-2026-for-starships-first-uncrewed-mars-mission-targeting-successful-landing" target="_blank" rel="noreferrer noopener">humans to the planet Mars</a>&nbsp;aboard Starship.
&#8220;…I would not be surprised if we fly 400 Starship launches in the next four years," 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 in November.
Starship is currently in the testing and development phase. The company has conducted seven test flights of the vehicle thus far starting in April 2023. The last flight test took place earlier this month.
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 Next:
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<li><a href="https://www.benzinga.com/25/01/43152345/bmw-uk-exits-elon-musks-x-to-continue-posting-on-instagram-facebook">BMW UK Stops Posting On X, Will Use It Only For Customer Support: To Continue Posting On Instagram, Facebook</a></li>
</ul>
Photo courtesy: Shutterstock

SPACE

Elon Musk's SpaceX Plans Gigabay Facility In Florida For Starship Assembly

<h3>Companies Reporting Before The Bell</h3>
• Elevance Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELV#NYSE">ELV</a>) is estimated to report quarterly earnings at $3.86 per share on revenue of $44.72 billion. 
• Chunghwa Telecom (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHT#NYSE">CHT</a>) is projected to report earnings for its fourth quarter. 
• WNS (Hldgs) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WNS#NYSE">WNS</a>) is likely to report quarterly earnings at $1.04 per share on revenue of $332.22 million. 
• Pacific Premier Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PPBI#NASDAQ">PPBI</a>) is likely to report quarterly earnings at $0.31 per share on revenue of $142.92 million. 
• OSI Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OSIS#NASDAQ">OSIS</a>) is expected to report quarterly earnings at $2.33 per share on revenue of $406.61 million. 
• Union Pacific (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNP#NYSE">UNP</a>) is expected to report quarterly earnings at $2.78 per share on revenue of $6.15 billion. 
• Texas Capital Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCBI#NASDAQ">TCBI</a>) is projected to report quarterly earnings at $1.08 per share on revenue of $283.78 million. 
• Old Republic Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORI#NYSE">ORI</a>) is projected to report quarterly earnings at $0.69 per share on revenue of $2.11 billion. 
• West Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WTBA#NASDAQ">WTBA</a>) is expected to report quarterly earnings at $0.40 per share on revenue of $21.42 million. 
• Valley Ntl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VLY#NASDAQ">VLY</a>) is estimated to report quarterly earnings at $0.14 per share on revenue of $467.97 million. 
• MarineMax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HZO#NYSE">HZO</a>) is projected to report quarterly loss at $0.18 per share on revenue of $485.52 million. 
• First BanCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBP#NYSE">FBP</a>) is likely to report quarterly earnings at $0.41 per share on revenue of $236.55 million. 
• Novagold Resources (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/NG#AMEX">NG</a>) is estimated to report earnings for its fourth quarter. 
• Northern Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTRS#NASDAQ">NTRS</a>) is estimated to report quarterly earnings at $2.00 per share on revenue of $1.93 billion. 
• Dr Reddy's Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDY#NYSE">RDY</a>) is estimated to report quarterly earnings at $0.19 per share on revenue of $964.48 million. 
• Amalgamated Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAL#NASDAQ">AMAL</a>) is estimated to report quarterly earnings at $0.87 per share on revenue of $81.90 million. 
• MakeMyTrip (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MMYT#NASDAQ">MMYT</a>) is likely to report quarterly earnings at $0.45 per share on revenue of $264.99 million. 
• Heritage Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HFWA#NASDAQ">HFWA</a>) is expected to report quarterly earnings at $0.44 per share on revenue of $60.71 million. 
• Dime Community Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DCOM#NASDAQ">DCOM</a>) is likely to report quarterly earnings at $0.45 per share on revenue of $62.64 million. 
• McCormick &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MKC#NYSE">MKC</a>) is expected to report quarterly earnings at $0.77 per share on revenue of $1.77 billion. 
• American Airlines Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) is projected to report quarterly earnings at $0.39 per share on revenue of $13.13 billion. 
• TAL Education (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAL#NYSE">TAL</a>) is expected to report quarterly earnings at $0.06 per share on revenue of $539.86 million. 
• Global X Guru Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GURU#NYSE">GURU</a>) is projected to report quarterly loss at $0.09 per share on revenue of $7.55 million. 
• LSI Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYTS#NASDAQ">LYTS</a>) is estimated to report quarterly earnings at $0.20 per share on revenue of $129.20 million. 
• GATX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GATX#NYSE">GATX</a>) is likely to report quarterly earnings at $1.78 per share on revenue of $399.00 million. 
• Independent Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBCP#NASDAQ">IBCP</a>) is estimated to report quarterly earnings at $0.76 per share on revenue of $48.94 million. 
• Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) is projected to report quarterly earnings at $0.35 per share on revenue of $6.27 billion. 
• Banc of California (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BANC#NYSE">BANC</a>) is expected to report quarterly earnings at $0.23 per share on revenue of $272.18 million. 
• GE Aero (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) is likely to report quarterly earnings at $1.05 per share on revenue of $9.84 billion. 
• Atlantic Union Bankshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AUB#NYSE">AUB</a>) is estimated to report quarterly earnings at $0.79 per share on revenue of $222.26 million. 
<h3>Companies Reporting After The Bell</h3>
• Texas Instruments (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) is projected to report quarterly earnings at $1.20 per share on revenue of $3.87 billion. 
• Covenant Logistics Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVLG#NYSE">CVLG</a>) is expected to report quarterly earnings at $0.50 per share on revenue of $284.91 million. 
• OceanFirst Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCFC#NASDAQ">OCFC</a>) is projected to report quarterly earnings at $0.36 per share on revenue of $94.95 million. 
• First Western Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYFW#NASDAQ">MYFW</a>) is expected to report quarterly earnings at $0.26 per share on revenue of $24.41 million. 
• SouthState (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSB#NYSE">SSB</a>) is expected to report quarterly earnings at $1.73 per share on revenue of $434.57 million. 
• Five Point Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPH#NYSE">FPH</a>) is likely to report earnings for its fourth quarter. 
• USCB Financial Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USCB#NASDAQ">USCB</a>) is expected to report quarterly earnings at $0.37 per share on revenue of $22.41 million. 
• First Financial Bancor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFBC#NASDAQ">FFBC</a>) is projected to report quarterly earnings at $0.65 per share on revenue of $216.32 million. 
• First Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRBA#NASDAQ">FRBA</a>) is estimated to report quarterly earnings at $0.39 per share on revenue of $32.84 million. 
• SLM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLM#NASDAQ">SLM</a>) is expected to report quarterly earnings at $0.56 per share on revenue of $371.74 million. 
• MidWestOne Financial Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MOFG#NASDAQ">MOFG</a>) is estimated to report quarterly earnings at $0.72 per share on revenue of $57.00 million. 
• Midland States Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSBI#NASDAQ">MSBI</a>) is likely to report quarterly earnings at $0.67 per share on revenue of $73.57 million. 
• Metropolitan Bank Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NYSE">MCB</a>) is estimated to report quarterly earnings at $1.49 per share on revenue of $67.43 million. 
• Customers Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CUBI#NYSE">CUBI</a>) is estimated to report quarterly earnings at $1.20 per share on revenue of $164.07 million. 
• East West Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWBC#NASDAQ">EWBC</a>) is expected to report quarterly earnings at $2.12 per share on revenue of $659.00 million. 
• Intuitive Surgical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>) is estimated to report quarterly earnings at $1.75 per share on revenue of $2.20 billion. 
• Glacier Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBCI#NYSE">GBCI</a>) is projected to report quarterly earnings at $0.52 per share on revenue of $224.99 million. 
• Business First Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BFST#NASDAQ">BFST</a>) is likely to report quarterly earnings at $0.49 per share on revenue of $75.13 million. 
• SB Finl Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBFG#NASDAQ">SBFG</a>) is expected to report quarterly earnings at $0.41 per share on revenue of $10.20 million. 
• Byline Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BY#NYSE">BY</a>) is projected to report quarterly earnings at $0.61 per share on revenue of $100.39 million. 
• Eastern Bankshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBC#NASDAQ">EBC</a>) is projected to report quarterly earnings at $0.34 per share on revenue of $184.71 million. 
• 1st Source (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRCE#NASDAQ">SRCE</a>) is likely to report quarterly earnings at $1.33 per share on revenue of $97.65 million. 
• Associated Banc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASB#NYSE">ASB</a>) is likely to report quarterly earnings at $0.52 per share on revenue of $337.81 million. 
• Columbia Banking System (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COLB#NASDAQ">COLB</a>) is projected to report quarterly earnings at $0.66 per share on revenue of $489.74 million. 
• CSX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSX#NASDAQ">CSX</a>) is likely to report quarterly earnings at $0.44 per share on revenue of $3.61 billion. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AMAL

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BFST

COLB

CUBI

CVLG

DCOM

streetTRACKS Dow Jones U.S. Large Cap Value Index Fund

EWBC

FFBC

FRBA

GATX

GBCI

GURU

HFWA

IBCP

ISRG

LYTS

MMYT

MOFG

MSBI

MYFW

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OCFC

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PPBI

SBFG

SRCE

TCBI

USCB

WTBA

Earnings Scheduled For January 23, 2025

2025 Guidance
For 2025, the Company expects its total revenue to increase by NT$ 2.71~NT$3.71 billion, or 1.2%~1.6%, to NT$232.74~NT$233.74 billion as compared to the un-audited consolidated total revenue of 2024. Operating costs and expenses for 2025 are expected to increase by NT$4.31~NT$4.38 billion, or 2.4%, to NT$187.58~NT$187.65 billion as compared to the prior year. Income from operations is expected to decrease by NT$0.16~NT$1.58 billion, or-0.3%~3.4% to NT$45.30~NT$46.72 billion as compared to the prior year. Income before income tax, net income attributable to stockholders of the parent and earnings per share are expected to be NT$46.11~NT$47.88 billion, NT$35.84~NT$37.39 billion and NT$4.62~NT$4.82, respectively, representing a decrease of NT$1.65 to an increase of NT$0.12 billion, a decrease of NT$1.37 to an increase of NT$ 0.18 billion and a decrease of NT$0.18 to an increase NT$0.02 respectively, year over year.
Acquisition of Property, Plant and Equipment in 2025 is expected to increase by NT$3.37 billion to NT$32.36 billion as compared to the prior year, owing to the expansion of AI internet data center, new construction of submarine cable, the investments in 5G deployment to maintain a competitive edge, enhance the network resilience and security, and the elimination of energy-intensive equipment to realize ESG practices.
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1">(NT$ billion except EPS)</td>
<td colspan="1" rowspan="1">2025(F)</td>
<td colspan="1" rowspan="1">
2024
(un-audited)
</td>
<td colspan="1" rowspan="1">&nbsp;change</td>
<td colspan="1" rowspan="1">YoY(%)</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Revenue</td>
<td colspan="1" rowspan="1">232.74~233.74</td>
<td colspan="1" rowspan="1">230.03</td>
<td colspan="1" rowspan="1">2.71~3.71</td>
<td colspan="1" rowspan="1">1.2%~1.6%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Operating Costs and Expenses</td>
<td colspan="1" rowspan="1">187.58~187.65</td>
<td colspan="1" rowspan="1">183.27</td>
<td colspan="1" rowspan="1">4.31~4.38</td>
<td colspan="1" rowspan="1">2.4&nbsp;%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Other Income and Expense</td>
<td colspan="1" rowspan="1">0.13~0.63</td>
<td colspan="1" rowspan="1">0.12</td>
<td colspan="1" rowspan="1">0.01~0.51</td>
<td colspan="1" rowspan="1">8.6%~419.0%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Income from Operations</td>
<td colspan="1" rowspan="1">45.30~46.72</td>
<td colspan="1" rowspan="1">46.88</td>
<td colspan="1" rowspan="1">(1.58)~(0.16)</td>
<td colspan="1" rowspan="1">(3.4%)~(0.3%)</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Non-operating Income</td>
<td colspan="1" rowspan="1">0.81~1.16</td>
<td colspan="1" rowspan="1">0.88</td>
<td colspan="1" rowspan="1">(0.07)~0.28</td>
<td colspan="1" rowspan="1">(8.0%)~31.8%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Income before Income Tax</td>
<td colspan="1" rowspan="1">46.11~47.88</td>
<td colspan="1" rowspan="1">47.76</td>
<td colspan="1" rowspan="1">(1.65)~0.12</td>
<td colspan="1" rowspan="1">(3.5%)~0.3%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Net Income Attributable to Stockholders of The Parent</td>
<td colspan="1" rowspan="1">35.84~37.39</td>
<td colspan="1" rowspan="1">37.21</td>
<td colspan="1" rowspan="1">(1.37)~0.18</td>
<td colspan="1" rowspan="1">(3.7%)~0.5%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">EPS(NT$)</td>
<td colspan="1" rowspan="1">4.62~4.82</td>
<td colspan="1" rowspan="1">4.80</td>
<td colspan="1" rowspan="1">(0.18)~0.02</td>
<td colspan="1" rowspan="1">(3.8%)~0.4%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">EBITDA</td>
<td colspan="1" rowspan="1">86.04~87.46</td>
<td colspan="1" rowspan="1">86.50</td>
<td colspan="1" rowspan="1">(0.46)~0.96</td>
<td colspan="1" rowspan="1">(0.5%)~1.1%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">EBITDA Margin</td>
<td colspan="1" rowspan="1">37.0%~37.4%</td>
<td colspan="1" rowspan="1">37.6&nbsp;%</td>
<td colspan="1" rowspan="1">(0.6%)~(0.2%)</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Acquisition of Material Assets</td>
<td colspan="1" rowspan="1">35.37</td>
<td colspan="1" rowspan="1">30.24</td>
<td colspan="1" rowspan="1">5.13</td>
<td colspan="1" rowspan="1">17.0&nbsp;%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Acquisition of Property,&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Plant and Equipment and &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Intangible Assets</td>
<td colspan="1" rowspan="1">32.36</td>
<td colspan="1" rowspan="1">28.99</td>
<td colspan="1" rowspan="1">3.37</td>
<td colspan="1" rowspan="1">11.6&nbsp;%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Others</td>
<td colspan="1" rowspan="1">3.01</td>
<td colspan="1" rowspan="1">1.25</td>
<td colspan="1" rowspan="1">1.76</td>
<td colspan="1" rowspan="1">140.8&nbsp;%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Disposal of Material Assets</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">0.02</td>
<td colspan="1" rowspan="1">(0.02)</td>
<td colspan="1" rowspan="1">(100&nbsp;%)</td>
</tr>
</tbody>
</table>
</figure>

Guidance

Chunghwa Telecom Expects FY25 Revenue Growth Of 1.2%-1.6% YoY Vs $6.79B Est, EPS Growth Of (3.8%)~0.4% YoY Vs $1.47 Est

Nidec (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NJDCY#OTC">NJDCY</a>) reported quarterly earnings of $0.08 per share which beat the analyst consensus estimate of $0.07 by 20 percent. This is a 40 percent increase over earnings of $0.06 per share from the same period last year. The company reported quarterly sales of $4.278 billion which missed the analyst consensus estimate of $4.480 billion by 4.51 percent. This is a 6.39 percent increase over sales of $4.021 billion the same period last year.

Earnings Misses

NJDCY

Nidec Q3 2024 GAAP EPS $0.08 Beats $0.07 Estimate, Sales $4.278B Miss $4.480B Estimate

Billionaire Elon Musk-led Department of Government Efficiency has set its sights on an unexpected target: the U.S. penny, highlighting the coin&#8217;s staggering production costs that <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43095721/dogecoin-up-2-after-logo-appears-on-doge-department-site">exceed its face value</a>.
What Happened: In a recent X post, DOGE revealed that pennies cost over 3 cents to manufacture, resulting in $179 million in taxpayer expenses during fiscal year 2023. The U.S. Mint produced 4.5 billion pennies last year, representing approximately 40% of total coin circulation.
Current production costs render each penny economically inefficient. The coin&#8217;s composition — 97.5% zinc and 2.5% copper plating — costs more to create than its one-cent value. The U.S. Mint&#8217;s latest reports confirm the penny&#8217;s production expense at 3.07 cents per coin.
<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">The penny costs over 3 cents to make and cost US taxpayers over $179 million in FY2023. The Mint produced over 4.5 billion pennies in FY2023, around 40% of the 11.4 billion coins for circulation produced. Penny (or 3 cents!) for your thoughts. Sources:<a href="https://t.co/Y5LlrpyA62">https://t.co/Y5LlrpyA62</a>…
&mdash; Department of Government Efficiency (@DOGE) <a href="https://twitter.com/DOGE/status/1881928086305870127?ref_src=twsrc%5Etfw">January 22, 2025</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/general/entertainment/25/01/43150781/netflix-crushed-q4-thanks-to-sports-squid-game-says-gary-black-analyst-highlights-low-attrition-despite-price-hikes-predicts-stock-upside">Netflix Crushed Q4 Thanks To Sports, Squid Game, Says Gary Black: Analyst Highlights Low Attrition Despite Price Hikes, Predicts Stock Upside</a>
Why It Matters: Musk&#8217;s critique arrives amid growing debates about the penny&#8217;s relevance. Economic experts have long argued that maintaining low-denomination coins creates unnecessary financial burden. Several allied nations, including Canada and the United Kingdom, have already eliminated similar low-value coins.
The penny&#8217;s production involves a complex six-step process across four U.S. Mint facilities, with parts and labor accounting for 88% of manufacturing costs. Technological advancements and potential composition changes could offer future cost-reduction strategies.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/entertainment/25/01/43152468/cnn-prepares-to-lay-off-hundreds-amid-warner-bros-discoverys-digital-overhaul-and-industry-wide-shift-report">CNN Prepares To Lay Off Hundreds Amid Warner Bros. Discovery&#8217;s Digital Overhaul And Industry-Wide Shift: Report</a></li>
</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Elon Musk's DOGE Takes Aim At The US Penny Citing Soaring Production Costs

McCormick &amp; Company, Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MKC#NYSE">MKC</a>) will release its fourth-quarter financial results, before the <a href="https://www.benzinga.com/quote/MKC/earnings">opening bell, on Thursday, Jan. 23, 2025.</a>
Analysts expect the Hunt Valley, Maryland-based company to report quarterly earnings at 77 cents per share, down from 85 cents per share in the year-ago period. McCormick projects quarterly revenue of $1.77 billion, compared to $1.75 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Nov. 19, 2024, McCormick raised its quarterly dividend from 42 cents to 45 cents per share on its common stock.
McCormick shares fell 1.4% to close at $73.24 on Wednesday&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; .
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/MKC/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>JP Morgan analyst Ken Goldman maintained an Underweight rating and cut the price target from $68 to $66 on Jan. 15, 2025. This analyst has an accuracy rate of 76%.</li>
<li>TD Cowen analyst Robert Moskow upgraded the stock from Hold to Buy and raised the price target from $86 to $90 on Jan. 8, 2025. This analyst has an accuracy rate of 67%.</li>
<li>Jefferies analyst Rob Dickerson upgraded the stock from Hold to Buy and raised the price target from $85 to $91 on Dec. 9, 2024. This analyst has an accuracy rate of 68%.</li>
<li>Argus Research analyst John Staszak upgraded the stock from Hold to Buy with a price target of $88 on April 2, 2024. This analyst has an accuracy rate of 68%.</li>
</ul>
Considering buying MKC stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="579" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/23025203/image-159-1024x579.png" alt="" class="wp-image-746235" style="width:460px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/23025203/image-159-1024x579.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/23025203/image-159-300x170.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/23025203/image-159-768x435.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/23025203/image-159.png 1117w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read This Next: 
<ul>
<li><a href="https://www.benzinga.com/25/01/43126364/jim-cramer-this-tech-stock-is-a-buy-amd-is-a-great-company">Jim Cramer: AMD Is A &#8216;Great&#8217; Company, Hold Onto Dow Inc.</a></li>
</ul>

Pre-Market Outlook

Trading Ideas

McCormick Gears Up For Q4 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Sandvik (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SDVKY#OTC">SDVKY</a>) reported quarterly earnings of $0.30 per share. This is a 0.67 percent increase over earnings of $0.30 per share from the same period last year. The company reported $2.98 billion in sales this quarter. This is a 0.13 percent decrease over sales of $2.99 billion the same period last year.

SDVKF

SDVKY

Sandvik Q4 Adj. EPS $0.302 Up From $0.30 YoY, Sales $2.984B Down From $2.99B YoY

The CNN Money Fear and Greed index showed further improvement in overall market sentiment, while the index remained in the &#8220;Fear&#8221; zone on Wednesday.
U.S. stocks settled higher on Wednesday, with the S&amp;P 500 surging to a new all-time high during the session.
Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) reported stronger-than-expected fourth-quarter financial results on Tuesday. Procter &amp; Gamble Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) posted better-than-expected second-quarter financial results. Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>) reported fourth-quarter sales of $10.97 billion, up 7.2% year over year, missing the consensus of $11.01 billion.
On the economic data front, U.S. mortgage applications rose 0.1% from the previous week in the week ending Jan. 17.
Most sectors on the S&amp;P 500 closed on a negative note, with utilities, real estate, and energy stocks recording losses on Wednesday. However, information technology and communication services stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed higher by around 131 points to 44,156.73 on Wednesday. The S&amp;P 500 rose 0.61% to 6,086.37, while the Nasdaq Composite climbed 1.28% at 20,009.34 during Wednesday's session.
Investors are awaiting earnings results from GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>), American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>), and Union Pacific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNP#NYSE">UNP</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 43.3, the index remained in the &#8220;Fear&#8221; zone on Wednesday, versus a prior reading of 41.5.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/01/43126364/jim-cramer-this-tech-stock-is-a-buy-amd-is-a-great-company">Jim Cramer: AMD Is A &#8216;Great&#8217; Company, Hold Onto Dow Inc.</a></li>
</ul>
Photo courtesy: Shutterstock

NFLX

S&P 500 Hits New Record As Netflix Reports Strong Results: Investor Sentiment Improves But Greed Index Remains In 'Fear' Zone

Chunghwa Telecom (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHT#NYSE">CHT</a>) reported quarterly earnings of $0.36 per share. This is a 9.09 percent increase over earnings of $0.33 per share from the same period last year. The company reported $2.02 billion in sales this quarter. This is a 3.94 percent increase over sales of $1.94 billion the same period last year.

Chunghwa Telecom Q4 EPS $0.36 Up From $0.33 YoY, Sales $2.02B Up From $1.94B YoY

Elon Musk&#8216;s <a href="https://www.benzinga.com/markets/equities/25/01/43150976/dan-ives-raises-tesla-price-target-to-550-sees-golden-era-for-elon-musk-under-trump-sees-bull-case-upside-of-over-56-if-optimus-robot-counted-in-valuation">Tesla Inc</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) could deliver a &#8220;choppy&#8221; first half given headwinds from Donald Trump&#8216;s new electric vehicle policies, uncertainties in deliveries, and automotive gross margin. However, this Piper Sandler analyst describes the EV maker as its number one &#8220;buy-and-hold idea&#8221;.
The Piper Sandler Analyst: Alexander Potter maintained his ‘overweight' rating and raised its target price to $500 from $315 apiece, representing a 20.45% increase from its current price level of $415.11, as of Wednesday&#8217;s close.
The Analyst Takeaways: According to the Piper Sandler note, Tesla&#8217;s success in the near future depends on two key things:
<ul>
<li>How many cars they sell: Tesla plans to release new vehicles soon, but the exact timing is uncertain. This makes it hard to predict how many cars they will sell in 2025, says the note. While there&#8217;s a chance they might sell fewer cars than expected, it&#8217;s unlikely to see clear evidence of this until the upcoming earnings call on Jan. 29.</li>
</ul>
<ul>
<li>How much profit they make on each car: Piper Sandler is more optimistic about Tesla&#8217;s profit margins. As long as they continue to release new products as planned, they expect their profitability to remain strong.</li>
<li></li>
</ul>
Also, the note adds that Tesla&#8217;s future success hinges on emerging technologies like Optimus robots and AI-powered services. Since valuing these uncertain revenue streams is challenging, Piper Sandler has adopted a price-to-earnings approach over a discounted cash flow approach, which measures a stock&#8217;s intrinsic value in a constant growth environment.
Piper Sandler&#8217;s $500 price target assumes a P/E of 120 for 2026 earnings.
The note added that over the next year, the analyst expects investors to gain a clearer understanding of Tesla&#8217;s new product rollout.
Why It Matters: Apart from the factors mentioned in the research note, President Trump&#8217;s <a href="https://www.benzinga.com/trading-ideas/movers/25/01/43147598/ev-stocks-are-falling-today-whats-going-on">revocation</a> of Joe Biden&#8216;s EV targets, freezing the EV infrastructure funding, and proposals of repealing tax credits, could raise concerns.
See Also: <a href="https://www.benzinga.com/25/01/43151994/tesla-to-hike-car-prices-in-canada-by-as-much-as-c9000">Tesla To Raise Prices In Canada: Model 3 Sees Up To $6,200 Hike </a>
Price Action: Tesla&#8217;s stock fell by 0.32% in after-hours trading on Wednesday. Over the past year, TSLA has experienced a notable growth of 98.48%.
The stock&#8217;s 52-week range is between $488.54 and $138.80. With a market capitalization of $1.33 trillion, TSLA's forward price-to-earnings ratio of 119.048 is higher than the industry average of 25.750 and it has a relative strength index of 52.72, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Tesla has a consensus &#8216;hold&#8217; with a price target of $308.4, according to the 34 <a href="https://www.benzinga.com/quote/TSLA/analyst-ratings">analysts tracked by Benzinga</a>. The high target is $550, and the low is $24.86. Recent ratings by Wedbush, Piper Sandler, and Barclays suggest a $458.33 target, implying a 10.77% upside.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/TSLA/analyst-ratings"><img loading="lazy" decoding="async" width="1024" height="385" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/23015518/Tesla-ANR-1024x385.png" alt="" class="wp-image-746106" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/23015518/Tesla-ANR-1024x385.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/23015518/Tesla-ANR-300x113.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/23015518/Tesla-ANR-768x289.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/23015518/Tesla-ANR.png 1060w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Image via Shutterstock
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Analyst Color

Long Ideas

Market Summary

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TSLA

Tesla Set For A 'Choppy' First Half Amid New EV Policies, But This Analyst Sees 20% Upside For Elon Musk's EV Company With A $500 Price Target

The launch of President Donald Trump&#8217;s meme coin and its meteoric rise to tens of billions of dollars in valuation has generated astonishment unlike anything seen before.
What happened: The Official Trump (TRUMP) coin reached a fully diluted valuation of nearly $75 billion within two days of its launch, a feat that took <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43080060/donald-trump-and-melania-memecoins-combined-market-value-is-now-higher-than-that-of-warren-buffetts-hot-pick">several publicly listed corporations</a> years to achieve.
Take, for instance, tech giant Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>). The Jeff Bezos-founded company may boast of a market capitalization of nearly $2.50 trillion today, but its growth in the nascent stages wasn't exactly exponential.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43119637/michael-saylors-proposal-to-increase-microstratagys-share-count-approved-by-shareholders-more-bitcoin-purchases-on-the-cards">Michael Saylor&#8217;s Proposal To Increase MicroStratagy&#8217;s Share Count Approved By Shareholders — More Bitcoin Purchases On The Cards?</a>
Amazon had its initial public offering on May 15, 1997, trading at $18 per share. It had a market valuation of a little over $11 billion by 1998.
The company <a href="https://www.benzinga.com/startups/24/10/41255752/jeff-bezos-says-all-overnight-success-takes-10-years-amazon-didnt-turn-a-profit-for-almost-a-decade">operated at a loss for years</a>, partly due to the dot-com bubble crisis, and it wasn&#8217;t until 2003 that it earned a full-year profit. Despite this, its market worth fluctuated between $10 billion and $30 billion for the remainder of the decade.&nbsp;
The stock finally took off at the dawn of the new decade and hit a $75 billion valuation in Oct. 2010. This means that it took Amazon more than 13 years to reach a market worth what President Trump's memecoin did in two days.
Why It Matters: While these analogies indeed evoke astonishment, one should exercise caution when comparing enterprises founded on a business strategy to assets that lack use cases, at least so far.
Aside from being linked with the U.S. president, the TRUMP meme coin has no practical application. It&#8217;s only being utilized as a speculative investment to record quick profits.
The result—<a href="https://www.benzinga.com/25/01/43088840/donald-and-melania-trump-memecoins-crash-after-presidential-inaugurationfirst-couples-crypto-wealth-plunges-36">a highly volatile asset</a>. Its fully diluted market capitalization, as mentioned earlier, has halved to $37 billion as of this writing.
On the other hand, Amazon has grown to become a trillion-dollar company, enabling Bezos to accumulate a multibillion-dollar fortune.
Price Action: At the time of writing, TRUMP was exchanging hands at $37.00, plunging 13.74% in the last 24 hours, <a href="https://coinmarketcap.com/currencies/official-trump/">according </a>to CoinMarketCap.
Shares of Amazon closed 1.86% higher at $235.01 during Wednesday&#8217;s regular trading session.
Image via Flickr
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AMZN

Trump Memecoin Achieved This Valuation Milestone Inside Two Days That Took Jeff Bezos' Amazon Over 13 Years

On Wednesday, Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) CEO Satya Nadella addressed Elon Musk&#8217;s skepticism about the ambitious Project Stargate's <a href="https://www.benzinga.com/markets/equities/25/01/43121798/elon-musk-says-project-stargate-doesnt-actually-have-the-money-after-trump-announces-500-billion-ai-investment-led-by-softbank-oracle-and-openai">$100 billion funding potential</a>.
What Happened: In an interview with CNBC, Nadella said, "All I know is, I'm good for my $80 billion," referencing <a href="https://www.benzinga.com/25/01/42801720/microsoft-to-invest-80-billion-in-ai-data-centers-for-fiscal-2025">Microsoft's annual investment</a> in AI and cloud infrastructure.
This allocation will ensure Azure's global capabilities continue to expand, including support for OpenAI's models, he noted.
See Also:&nbsp;<a href="https://www.benzinga.com/25/01/43151196/samsung-google-team-up-to-develop-ar-glasses-entering-the-race-against-meta-and-apple">Samsung, Google Team Up On AR Glasses Development, Duo To Enter Race Against Meta And Apple</a>
&#8220;Any time a company that you've supported, and essentially were seed investor, raises money from others, it's a good day,&#8221; said Nadella, when asked how this venture can benefit Microsoft.
&#8220;It's a good day for OpenAI and a good day for Microsoft and our investors. Our partnership continues. We will be a tech partner to Stargate,&#8221; he added.
During the interview, Nadella was also asked about concerns raised by Salesforce CEO Marc Benioff regarding potential competition between Microsoft and OpenAI.
In response, the Microsoft CEO reiterated that the collaboration with ChatGPT-parent is foundational and mutually beneficial.&nbsp;
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-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="Microsoft CEO Satya Nadella on $500B Stargate project: Our partnership with OpenAI continues" width="500" height="281" src="https://www.youtube.com/embed/lb_ZJylekWo?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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Why It Matter: The Stargate project, a joint venture between OpenAI, SoftBank Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>), and Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>), has drawn scrutiny over its ambitious funding goals.
The venture represents a significant step in AI development and infrastructure in the U.S., with an initial private investment of $100 billion and the potential to grow to $500 billion over four years.
Following President Donald Trump's announcement, Musk said, "They don&#8217;t actually have the money," and later in a separate post stated, "SoftBank has well under $10B secured. I have that on good authority."
When Nadella's comment reached Musk, he replied by saying, &#8220;Satya definitely does have the money.&#8221;
<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">On the other hand, Satya definitely does have the money <a href="https://t.co/VGBObPG7fM">https://t.co/VGBObPG7fM</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1882303826214162580?ref_src=twsrc%5Etfw">January 23, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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The project aims to construct data centers and power generation facilities to support advanced AI research and applications, marking a significant declaration of America's technological ambitions.
In October, Microsoft reported <a href="https://www.benzinga.com/news/earnings/24/10/41636770/microsoft-q1-earnings-highlights-ai-driven-transformation-is-changing-work-company-beats-revenue-ep">first-quarter revenue</a> of $65.60 billion, marking a 16% increase compared to the same period in 2023, according to <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent103024&amp;t=be2bearmibe3na1">data from Benzinga Pro</a>.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Image via Shutterstock
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Satya Nadella Stands Firm After Elon Musk Questions Stargate's $100 Billion Funding Potential: 'All I Know Is, I'm Good For My $80 Billion'

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