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Baird analyst Rob Oliver downgrades Atlassian (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>) from Outperform to Neutral and lowers the price target from $230 to $175.

News

Downgrades

Price Target

Analyst Ratings

TEAM

Baird Downgrades Atlassian to Neutral, Lowers Price Target to $175

After a lackluster performance in the presidential debate against Republican candidate Donald Trump, President Joe Biden&#8217;s poll numbers turned abysmal, <a href="https://www.benzinga.com/general/politics/24/07/39874057/biden-drops-out-of-2024-race-in-bombshell-announcement-it-has-been-the-greatest-honor-of-my-life">forcing him to quit the race. </a>This thrust Vice President Kamala Harris into the spotlight and ever since she took the plunge, she appears to be giving Trump a run for his money in every since.
Kamala &#8211; The Wealth Shrinker? Biden officially confirmed his decision to stand out on July 21 and since then, shares of Trump-owned Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) have fallen by 22.26% from $34.99 (July 19) to $27.20 (Aug. 1 closing price). Incidentally, the broader market did experience a swoon during the period, as tech stocks, which have been leading the market rally since the start of 2023, came under pressure amid rotation out of these stocks and into SMID-caps. This rotation was set in motion by rising expectations that the Federal Reserve would soon begin reversing the rate hikes,
However, TMTG underperformed even in the underperforming tech space and the broader market during this period.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="650" height="450" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/02035154/newplot-11.jpeg" alt="" class="wp-image-472424" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/02035154/newplot-11.jpeg 650w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/02035154/newplot-11-300x208.jpeg 300w" sizes="(max-width: 650px) 100vw, 650px" /></figure>
Source: Benzinga
As of Thursday&#8217;s close, TMTG&#8217;s market cap is at $5.166 billion.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="450" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/02034725/image-2-1024x450.png" alt="" class="wp-image-472418" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/02034725/image-2-1024x450.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/02034725/image-2-300x132.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/02034725/image-2-768x338.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/02034725/image-2.png 1201w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Source: Y Charts
Trump has a majority 64.9% stake in TMTG thanks to the 114.7 million shares he owns in the company, according to <a href="https://www.sec.gov/Archives/edgar/data/1849635/000114036124030406/ny20026576x34_s1a.htm" target="_blank" rel="noreferrer noopener">filings</a> by the company. He and other insiders cannot sell their stake in TMTG until September due to a lockup period and unless the board decides to waive or pull forward the timing of the lock-up expiration.
The former president&#8217;s wealth tumbled from $4 billion as of July 19 to $3.1 billion by Aug. 1, CNN reported, citing <a href="https://edition.cnn.com/2024/08/01/investing/trump-net-worth-harris-truth-social/index.html">data</a> from Bloomberg. 
See Also: <a href="https://www.benzinga.com/money/best-communication-services-stocks">Best Communication Services Stocks</a>
Why It&#8217;s Important: TMTG went public by merging with SPAC Digital World Acquisition Corp. on March 26. The stock closed the debut session at $57.99, rising to a post-IPO high of $79.38 in the very same session. TMTG's public debut swelled Trump's net worth by $4.1 billion, Forbes&nbsp;<a href="https://www.forbes.com/sites/chasewithorn/2024/03/26/donald-trumps-net-worth-more-than-doubles-in-a-day/" target="_blank" rel="noreferrer noopener">reported.</a>
Since then the stock has seen considerable volatility amid developments surrounding Trump's legal travails and his election prospects.&nbsp;
Aside from Trump's woes, the company's fundamentals have not evinced enthusiasm among analysts, with most crying foul over the company's staggering valuation and dismissing it as unsustainable. The Truth Social platform owned by TMTG has failed to find much traction as it operates in a niche area as opposed to bigger publicly-listed social media rivals.
The average number of monthly visits to the platform for the one year from April 2023 to May 2024 fell 39% relative to the previous one-year period, data from digital intelligence platform Similarweb showed,&nbsp;<a href="https://www.cnbc.com/2024/05/24/truth-social-traffic-trump-media-djt-data.html" target="_blank" rel="noreferrer noopener">reported</a>&nbsp;CNBC.
In the political arena, Trump is facing a real test as Harris&#8217; standing against him suggests either a v<a href="https://www.benzinga.com/news/24/07/40059982/trump-vs-harris-vice-president-wipes-away-part-of-bidens-post-debate-deficit-as-key-demographic-grou">ery close race or a very slight edge for the ex-president, </a>going by the results of most opinion polls.
TMTG fell 2.99% to $26.66 in premarket trading on Friday, according to<a href="https://benzinga.grsm.io/register174"> Benzinga Pro data.</a>
Did You Know?
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<li>Congress Is Making Huge Investments.&nbsp;<a href="https://www.benzinga.com/gov-trades" target="_blank" rel="noreferrer noopener">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
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Politics

General

Trump's Fortunes Tank By Nearly $900M Since Kamala Harris Replaced Biden As Democratic Candidate: Here's How Much Ex-President Is Worth Now

Piper Sandler analyst Clarke Jeffries maintains GoDaddy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDDY#NYSE">GDDY</a>) with a Overweight and raises the price target from $145 to $160.

GDDY

Piper Sandler Maintains Overweight on GoDaddy, Raises Price Target to $160

Guidance

Magna International FY24 Outlook: Revised Sales Outlook At $42.5B - $44.1B (Prior $42.6B-$44.2B) Vs $43.28B Est, Reiterated Adj. Net Income At $1.5B - $1.7B

Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) stock fell nearly 4% in premarket trading on Friday amid reports of an antitrust investigation by the U.S. Department of Justice over allegations of monopolistic practices in the AI chip market.
What Happened: The DOJ has commenced an inquiry into Nvidia following complaints from its competitors about potential misuse of its dominant position in the AI chip market, The Information <a href="https://www.theinformation.com/articles/nvidia-faces-doj-antitrust-probe-over-complaints-from-rivals">reported</a> on Thursday, citing people involved in the discussions. 
The investigation is focused on whether Nvidia pressured cloud providers to purchase multiple Nvidia products.
The probe also examines whether Nvidia charged customers higher prices for networking gear if they wanted to buy AI chips from rivals such as Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) and Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>). Nvidia currently holds approximately 80% of the AI chip market.
&#8220;We compete based on decades of investment and innovation, scrupulously adhering to all laws, making Nvidia openly available in every cloud and on-prem for every enterprise, and ensuring that customers can choose whatever solution is best for them,&#8221; an Nvidia spokesperson told Reuters.
Progressive groups and Senator Elizabeth Warren (D-Mass.) have advocated for the DOJ to investigate Nvidia over competition concerns. These groups have been critical of Nvidia&#8217;s bundling of software and hardware, according to the report, a practice that French antitrust enforcers have also flagged.
See Also: <a href="https://www.benzinga.com/markets/equities/24/07/40033296/trumps-son-in-law-backed-software-giant-qxo-drops-80-in-pre-market-valuation-nosedives-from-90b-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Son-In-Law-Backed Software Giant QXO Drops 80% In Pre-Market, Valuation Nosedives From $90B To $8.6B</a>
Why It Matters: The DOJ&#8217;s investigation into Nvidia is part of a broader regulatory focus on the AI sector. In June, it was reported that the U.S. Justice Department and the Federal Trade Commission had finalized an agreement to facilitate potential antitrust probes into the <a href="https://www.benzinga.com/markets/equities/24/06/39224832/antitrust-probes-target-ai-giants-microsoft-nvidia-openai-report">dominance of AI industry leaders</a>, including Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), OpenAI, and Nvidia. 
On Wednesday, former House Speaker Nancy Pelosi (D-Calif.) disclosed the purchase of <a href="https://www.benzinga.com/general/politics/24/07/40074372/nancy-pelosi-loads-up-on-more-nvidia-shares-sells-part-of-microsoft-stake-before-q4-earnings">additional Nvidia shares</a>, while selling a portion of her Microsoft holdings.
Moreover, Nvidia&#8217;s market value has seen a meteoric rise, with predictions from prominent investors suggesting it could <a href="https://www.benzinga.com/markets/equities/24/07/39765205/nvidia-could-be-worth-nearly-50-trillion-in-a-decade-says-early-tesla-amazon-investor-nearly-2x-">reach nearly $50 trillion within a decade</a>. This bullish outlook is driven by Nvidia&#8217;s pivotal role in the growing demand for AI chips, which are essential for training and operating advanced generative AI models.
Despite U.S. export controls, Nvidia is projected to <a href="https://www.benzinga.com/government/24/07/39646273/is-nvidia-defying-us-export-controls-whats-going-on">generate $12 billion in China</a> this year through the sale of AI chips designed to comply with these restrictions. This underscores Nvidia&#8217;s strategic maneuvers to maintain its global market presence.
Price Action: Nvidia&#8217;s stock closed at $109.21 on Thursday, down 6.67% for the day. In pre-market trading, the stock continued its downward trend, falling an additional 3.53%. Despite this recent decline, Nvidia&#8217;s stock has experienced significant growth year to date, rising by 126.72%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/08/40121567/amazon-says-trump-assassination-attempt-and-paris-olympics-responsible-for-lower-q3-revenue-fore?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amazon Says Trump Assassination Attempt And Paris Olympics Responsible For Lower Q3 Revenue Forecast, Shares Slide In After-Hours: &#8216;Customers Only Have So Much Attention&#8217;</a></li>
</ul>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Equities

Legal

Markets

INTC

MSFT

NVDA

Nvidia Down Nearly 4% In Pre-Market Trading As DOJ Reportedly Launches Antitrust Probe Over Allegations Of Monopolistic Practices

Magna International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGA#NYSE">MGA</a>) reported quarterly earnings of $1.35 per share which missed the analyst consensus estimate of $1.44 by 6.25 percent. The company reported quarterly sales of $10.958 billion which missed the analyst consensus estimate of $11.012 billion by 0.49 percent. This is a 0.22 percent decrease over sales of $10.982 billion the same period last year.

Earnings

Earnings Misses

Magna International Q2 2024 Adj. EPS $1.35 Misses $1.44 Estimate, Sales $10.958B Miss $11.012B Estimate

This story was first published on the <a href="https://in.benzinga.com/content/40123810/apple-logs-record-breaking-revenue-in-india-boosted-by-mac-sales">Benzinga India portal.</a>
Apple Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) has established a new revenue milestone in India, with&nbsp;Mac&nbsp;sales reaching unprecedented heights, the company said in its Q3 FY24 results.
What Happened: Apple&rsquo;s quarterly revenue stood at $85.8 billion, a 5% year-over-year increase.&nbsp;Tim Cook, the CEO of Apple, announced in the company&rsquo;s earnings call that the company had set new revenue records in more than two dozen countries, including India.
Apple&rsquo;s CFO, Luca Maestri, said Mac revenue experienced a 2% year-over-year rise, attributing this growth to the robust performance of the M3-powered&nbsp;MacBook Air, especially in emerging markets like India and South Asia.
See Also:&nbsp;<a href="https://in.benzinga.com/content/40123135/small-cap-stock-rises-5-after-winning-558-cr-order-from-up-govt" rel="noreferrer noopener" target="_blank">Small Cap Stock Rises 5% After Winning ₹558 Cr Order From UP Govt</a>
While <a href="https://www.benzinga.com/money/best-place-to-sell-iphone/">iPhone</a> sales saw a slight decrease of 0.94% to $39.30 billion&nbsp;in the quarter, Mac and&nbsp;iPad&nbsp;sales witnessed a substantial surge. Mac sales increased by 2.46% to $7.01 billion, and iPad sales soared by 23.63% to $7.16 billion.
Despite a 2.26% drop in the wearables, home and accessories segment, Apple&rsquo;s services revenue continued its upward trajectory, reaching $24.21 billion, a 14.14% increase compared to the previous year.
If you&rsquo;d like to be ahead&nbsp;of the curve on the Indian stock market, sign up for our Ring The Bell newsletter by&nbsp;<a href="https://share.hsforms.com/1K1H7Kd0aRhmSdDIuxTAkxg1npzh" rel="noopener noreferrer" target="_blank">clicking here</a>.

Asia

Tech

AAPL

Apple Logs Record-Breaking Revenue In India, Boosted By Mac Sales

In a novel move, Xi Jinping&#8217;s China has launched its first university degree program centered on marriage. The comprehensive curriculum includes courses on matchmaking, wedding planning, and marriage counseling.
What Happened: The Beijing-based Vocational University of Civil Affairs, under China&#8217;s Ministry of Civil Affairs, is introducing a four-year program in marriage services and management, CNBC <a href="https://www.cnbc.com/2024/08/02/chinas-first-university-degree-in-marriage-offers-courses-like-matchmaking.html">reported</a> on Friday. The program, according to Yu Xiaohui, the dean of the university&#8217;s School of Wedding Culture and Media Arts, is intended to encompass &#8220;the entire cycle of marriage and family.&#8221;
The curriculum covers a wide range of subjects, including sociology, wedding venue design, family ethics, the economics of the marriage industry, and family policies. Additionally, students will gain practical experience through internships at agencies specializing in weddings, matchmaking, marriage registration, and counseling.
The program, which begins enrollment in September, aims to address a talent shortage in the marriage services market. In its inaugural year, the university plans to admit 70 undergraduates from 12 provinces, as announced by the university&#8217;s vice president, Zhao Honggang.
See Also: <a href="https://www.benzinga.com/markets/asia/24/07/40021841/us-tariff-on-chinese-solar-panels-creates-level-playing-field-says-first-solar-ceo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">US Tariff On Chinese Solar Panels Creates &#8216;Level Playing Field,&#8217; Says First Solar CEO</a>
Why It Matters: This educational initiative comes at a time when new marriages in China have seen a 12.4% surge in 2023, breaking a nine-year streak of declines. Despite this, over half of the Chinese population aged 25 to 29 remains unmarried, and late marriages are becoming increasingly common. The new institution also offers degrees in smart health care management, social work, rehabilitation assistive device technology, and funeral management. 
This move aligns with <a href="https://www.benzinga.com/economics/macro-economic-events/24/01/36732969/chinas-growth-stumbles-but-it-still-offers-enormous-advantages-for-investors-says">China&#8217;s ongoing efforts </a>to adapt to its changing demographic and economic landscape. The country&#8217;s economic growth has slowed, and it faces challenges in its youth unemployment rate and real estate sector. However, as emphasized by JPMorgan Asia Pacific CEO Sjoerd Leenart, China&#8217;s economic performance <a href="https://www.benzinga.com/markets/asia/24/05/38980045/you-cant-ignore-says-jpmorgan-apac-ceo-highlighting-beijings-significance-in-global-economy-you-have">continues to significantly impact</a> industries worldwide, making it a crucial player in the global economy. 
Did You Know?
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades" target="_blank" rel="noreferrer noopener">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Global

As China Deals With Population Crisis, Xi Jinping's Nation Launches First University Degree Program That Covers Matchmaking, Wedding Planning And Marriage Counseling

The Federal Communications Commission&#8217;s reinstatement of <a href="https://www.benzinga.com/general/politics/17/12/10865684/survey-heres-how-americans-feel-about-net-neutrality">net neutrality</a> rules has been temporarily halted by a U.S. appeals court, marking a significant setback to the Biden administration&#8217;s efforts.
What Happened: On Thursday, the Sixth Circuit U.S. Court of Appeals imposed a temporary stop on the FCC&#8217;s net neutrality rules, reported Reuters. The court thinks that broadband providers are likely to succeed in their legal challenge against these rules.
&#8220;The final rule implicates a major question, and the commission has failed to satisfy the high bar for imposing such regulations,&#8221; the court wrote. &#8220;Net neutrality is likely a major question requiring clear congressional authorization.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/07/40003033/elon-musk-blocked-vampires-fame-james-wood-for-slamming-his-blocking-ban-now-the-actor-cant-stop-sin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Blocked &#8216;Vampires&#8217; Fame James Woods For Slamming His Blocking Ban, Now The Actor Can&#8217;t Stop Singing Praises Of The X Owner</a>
In April, the FCC voted&nbsp;to reassume regulatory oversight of&nbsp;broadband internet and reinstate open&nbsp;internet rules that were rescinded under former President Donald Trump. 
However, the court has now scheduled oral arguments for late October or early November on this issue.
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.
In response to the decision, FCC Chair&nbsp;Jessica Rosenworcel&nbsp;stated,&nbsp;&#8220;The American public wants an&nbsp;internet that is fast, open,&nbsp;and fair. Today's decision by&nbsp;the Sixth Circuit is a&nbsp;setback but we will not&nbsp;give up the fight for&nbsp;net neutrality.&#8221;
Why It Matters: Net neutrality rules mandate&nbsp;internet service providers to treat&nbsp;all&nbsp;internet data and users equally. They are prohibited from restricting access, slowing speeds,&nbsp;or blocking content for certain&nbsp;users. 
The rules also prevent ISPs from giving&nbsp;improved network speeds or access&nbsp;to favored users.
The rules would prohibit internet service providers from blocking or throttling access to specific websites or engaging in paid prioritization of lawful content, while also granting the FCC new powers to regulate Chinese telecom companies and monitor internet service outages, the report noted.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: <a href="https://www.flickr.com/photos/josephgruber/15109096143/">Joseph Gruber</a> via Flickr

Government

Regulations

US Appeals Court Halts President Biden's Net Neutrality Rules: 'The Commission Has Failed To Satisfy The High Bar For Imposing Such Regulations'

CareTrust REIT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTRE#NASDAQ">CTRE</a>) reported quarterly earnings of $0.36 per share which met the analyst consensus estimate. The company reported quarterly sales of $68.891 million which beat the analyst consensus estimate of $54.220 million by 27.06 percent. This is a 33.63 percent increase over sales of $51.553 million the same period last year.

Earnings Beats

CTRE

CareTrust REIT Q2 2024 FFO $0.36, Inline, Sales $68.891M Beat $54.220M Estimate

Cavco Indus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVCO#NASDAQ">CVCO</a>) reported quarterly earnings of $4.11 per share which missed the analyst consensus estimate of $4.70 by 12.55 percent. This is a 22.31 percent decrease over earnings of $5.29 per share from the same period last year. The company reported quarterly sales of $477.599 million which beat the analyst consensus estimate of $462.321 million by 3.30 percent. This is a 0.36 percent increase over sales of $475.875 million the same period last year.

CVCO

Cavco Indus Q1 2025 GAAP EPS $4.11 Misses $4.70 Estimate, Sales $477.599M Beat $462.321M Estimate

Vice President Kamala Harris reportedly played a significant role in negotiating a prisoner-swap deal with international allies.
What Happened: Harris held separate discussions with German Chancellor Olaf Scholz and Slovenian Prime Minister Robert Golob during the Munich Security Conference in February, Wall Street Journal <a href="https://www.wsj.com/livecoverage/evan-gershkovich-free-russia-hostage-exchange/card/kamala-harris-played-role-in-prisoner-swap-GJOISZWY48oePDmuhvY6?mod=e2tw">reported</a> on Thursday. The goal of these meetings was to encourage both leaders to facilitate the prisoner exchange, a White House official disclosed.
The Vice President&#8217;s dialogue with Scholz was especially vital as the release of Krasikov, a primary Russian demand, depended on it. Harris&#8217;s established rapport with Scholz was a contributing factor to their effective conversation. Harris&#8217;s meeting with Golob, her first, was the highest-level U.S. engagement with the Slovenian government at the time.
See Also: <a href="https://www.benzinga.com/general/politics/24/07/40070258/trump-vs-harris-election-forecaster-with-9-out-of-10-accurate-predictions-gives-this-candidate-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Harris: Election Forecaster With 9 Out Of 10 Accurate Predictions Gives This Candidate The Edge In 2024 Race</a>
Additionally, Harris had a<a href="https://www.benzinga.com/news/24/08/40120812/kamala-harris-spoke-to-alexey-navalnys-widow-after-prisoner-release-some-freed-worked-with-oppositio"> conversation with Yulia Navalnaya</a>, widow of Alexey Navalny. Some Russian political prisoners associated with Navalny were released as part of the swap, the White House official confirmed.
Why It Matters: This prisoner-swap deal <a href="https://www.benzinga.com/news/24/08/40101351/russia-frees-wsj-reporter-evan-gershkovich-and-ex-marine-paul-whelan-in-major-prisoner-swap-with-us">led to the release</a> of Wall Street Journal reporter Evan Gershkovich and former U.S. Marine Paul Whelan, who were imprisoned in Russia on espionage charges, as part of a significant prisoner exchange with the U.S.
Following the<a href="https://www.benzinga.com/news/24/08/40122034/joe-biden-and-kamala-harris-greet-evan-gershkovich-and-paul-whelan-at-joint-base-andrews-following-l"> landmark prisoner swap</a>, President Joe Biden and Harris welcomed Gershkovich and the other returnees at Joint Base Andrews in Maryland.
The prisoner exchange has not been without controversy. Former President Donald Trump <a href="https://www.benzinga.com/news/24/08/40121063/trump-slams-russia-prisoner-exchange-we-never-make-good-deals-biden-responds-why-didnt-he-do-it-when">criticized the deal,</a> using the detention of Americans in Russia as a point of attack against Biden. However, White House officials clarified that the deal did not involve a cash exchange.
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<li>Lawmakers Made Huge Investments This Year.&nbsp;<a href="https://www.benzinga.com/gov-trades" target="_blank" rel="noreferrer noopener">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Kamala Harris Reportedly Played Crucial Role In Prisoner Exchange That Brought WSJ Journalist And Former Marine Back Home

<ul>
<li>Approved for advanced MAGE-A4+synovial sarcoma in adults with certain HLA types who have received prior chemotherapy</li>
<li>TECELRA is the first new treatment option for people with synovial sarcoma in more than a decade</li>
</ul>

ADAP

Reported Earlier, Adaptimmune's TECELRA Gains U.S. FDA Accelerated Approval As First Engineered Cell Therapy For Solid Tumors

The CEO of Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), Brian Armstrong, highlighted a notable shift in political support for cryptocurrencies, ruling out disproportionate support from any one particular party.
What Happened: During the company&#8217;s second-quarter 2024 earnings call, Armstrong was asked about the shifting dynamics in the U.S. political landscape with regards to cryptocurrencies, and whether he foresees more problems for the industry if Democrats secure another term. 
Armstrong replied by saying that cryptocurrency is a non-partisan issue, and advocates from both sides of the political spectrum have championed its cause.
We feel very lucky that this political constituency is now being taken seriously in D.C.,&#8221; the billionaire CEO stated. &#8220;I think it was a group of people that felt underserved in the past, and they felt like their industry was being attacked. And that&#8217;s—we&#8217;ve seen a shift from both sides.&#8221;
The Coinbase CEO&#8217;s remarks follow former President Donald Trump&#8217;s positive comments about cryptocurrencies at Bitcoin Nashville. Armstrong views this as a sign of a &#8220;monumental shift&#8221; in the political constituency&#8217;s perception of the crypto industry.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40089232/dogecoins-real-bull-run-has-not-even-begun-yet-says-trader-as-memecoin-battles-stagnation?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin&#8217;s Real Bull Run Has &#8216;Not Even Begun Yet,&#8217; Says Trader As Memecoin Battles Stagnation</a>
Why It Matters: Armstrong&#8217;s comments come after investment bank Citi upgraded <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39923754/bidens-exit-spurs-bullish-outlook-citi-upgrades-coinbase-amid-favorable-crypto-regulatory-">shares of the cryptocurrency exchange , from neutral to buy last week</a>, anticipating an improved regulatory landscape for cryptocurrency assets in the U.S.
Coinbase reported its Q2 earnings Thursday, which revealed a revenue beat despite a fall in transaction revenue. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) accounted for 35% of the total trading volumes and 31% of transaction revenues in the quarter.
Interestingly, before the earnings release, Cathie Wood-led Ark Invest<a href="https://www.benzinga.com/markets/equities/24/07/40088574/cathie-wood-led-ark-invest-buys-47-5m-of-amd-shares-and-12-7m-of-this-meta-platforms-rivals-stoc"> dumped 12,077 shares in&nbsp;Coinbase&nbsp;from its ARKW ETF,</a> amounting to a sale value of roughly $2.7 million.
Price Action: The Coinbase stock pumped 3.23% in after-hours trading. Shares of the company closed 5.22% lower at 212.64 during Thursday&#8217;s regular session.
Image By TechCrunch Via Flickr 
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

COIN

Coinbase CEO Brian Armstrong Was Asked If Another Democratic Administration Would Prove Difficult For Crypto Industry, Here's What He Said

Chinese EV giant BYD Co Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) said on Thursday that the company sold 340,799 new energy passenger vehicles, marking a jump of nearly 31% from last year, despite a <a href="https://www.benzinga.com/news/24/08/40091775/tesla-ceo-elon-musk-says-warren-buffett-backed-ev-maker-byd-should-change-approach-to-autonomy-fast">drop in battery electric vehicle (BEV) sales.</a>
What Happened: Pure EV sales of the Chinese player fell to 130,000 units in July, marking a nearly 4% dip from the corresponding month of last year, and raising concerns about dwindling EV demand. This is the lowest EV sales recorded by the company in five months since February when the company sold just 54,908 BEV passenger vehicles. 
The fall in BEV sales during the month, however, was offset by a 67% year-on-year rise in plug-in hybrid vehicle sales. 
BYD, backed by Warren Buffett-led Berkshire Hathaway, is the biggest rival to American EV giant Tesla Inc. The company <a href="https://www.benzinga.com/news/24/01/36839203/warren-buffett-backed-byd-sees-higher-profits-for-fy23-after-taking-over-tesla-as-biggest-ev-seller">took over Tesla</a> as the world&#8217;s largest BEV seller in the fourth quarter of 2023. However, Tesla took back the crown in the first quarter of 2024 and has been holding on to it since.
Competition In EV Sales: U.S.-listed Chinese EV startups Nio Inc,&nbsp;Li Auto, and&nbsp;XPeng also reported their July delivery numbers on Thursday with Li Auto <a href="https://www.benzinga.com/news/24/08/40091882/chinese-ev-maker-li-auto-delivers-record-51-000-vehicles-in-july">topping among the three</a> by a significant margin.
Li Auto&nbsp;said on Thursday that it delivered a record 51,000 vehicles in July, marking a 49.4% jump year-over-year.
XPeng&nbsp;also witnessed its deliveries rise in July but couldn't keep up with Li Auto's pace. The company delivered 11,145 vehicles last month, marking an increase of 1% year-over-year.
Shanghai-based&nbsp;Nio, meanwhile, delivered 20,498 vehicles in July, including 11,964 SUVs and 8,534 sedans. This marks a meager 0.2% rise from its sales in July 2023.
Geely&#8217;s luxury EV brand Zeekr&nbsp;Intelligent Technology Holding Limited&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZK#NYSE">ZK</a>), meanwhile, saw EV deliveries rise 30% year-over-year to 15,655 units in July.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
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<li><a href="https://www.benzinga.com/news/24/08/40122694/elon-musk-dreams-of-tesla-making-a-drivetrain-every-second-5x-faster-than-right-now">Elon Musk Dreams Of Tesla Making A Drivetrain Every Second, 5X Faster Than Right Now</a></li>
</ul>
Photo via Shutterstock

BYDDF

BYDDY

Warren Buffett-Backed BYD's Pure EV Sales Drop To Lowest In Five Months In July While Hybrid Vehicle Sales Surge 67%

<ul>
<li>Funding Extends Company&#39;s Cash Runway into&nbsp;Second Quarter&nbsp;2025, which is beyond the Anticipated Timing for SHIELD II Top-line Results if Warrants are Fully Exercised</li>
<li>More than&nbsp;300 Patients Enrolled in Ongoing SHIELD II Phase 3 Trial of&nbsp;D-PLEX100&nbsp;for the Prevention of Abdominal Colorectal Surgical Site Infections</li>
<li>Unblinded Interim Analysis to be Conducted Once Approximately 400 PatientsComplete Their 30-Day Follow-up Expected in&nbsp;Fourth Quarter&nbsp;of 2024; Top-Line Results Anticipated in&nbsp;First Quarter&nbsp;of 2025</li>
</ul>

PYPD

Reported Earlier, PolyPid Secures Up To $14M In Private Placement To Extend Cash Runway To Q2 2025

Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) is expected to release earnings results for its second quarter, before the opening <a href="https://www.benzinga.com/quote/CVX/earnings">bell on Friday, Aug. 2.</a>
Analysts expect the San Ramon, California-based company to report quarterly earnings at $2.93 per share, down from $3.28 per share in the year-ago quarter. Chevron is projected to report quarterly revenue of $50.80 billion, compared to $48.9 billion in the year-earlier quarter, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Exxon Mobil and its partner CNOOC Ltd have filed arbitration claims, asserting their right of first refusal to any sale of Hess Corp&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>) stake in a Guyana oil-producing joint venture. This move could potentially hinder Chevron&#8217;s proposed $53 billion <a href="https://www.benzinga.com/markets/equities/24/08/40091118/chevrons-53b-hess-deal-faces-uncertainty-amid-exxon-and-cnooc-arbitration-claims">acquisition of Hess</a>.
Chevron shares fell 4.9% to close at $152.62 on Thursday.
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/CVX/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58b59ca8b85e930001267b7c/bob-brackett">Bernstein analyst Bob Brackett</a> downgraded the stock from Outperform to Market Perform and cut the price target from $183 to $167 on July 17. This analyst has an accuracy rate of 67%.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/59282ae6290fa7000185325c/nitin-kumar">Mizuho analyst Nitin Kumar</a> maintained a Buy rating and raised the price target from $200 to $205 on May 13. This analyst has an accuracy rate of 69%.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/605db899dbb1f500014cd1d3/jason-gabelman">TD Cowen analyst Jason Gabelman</a> maintained a Hold rating and boosted the price target from $155 to $160 on April 29. This analyst has an accuracy rate of 72%.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/586cf169351b9b0001a30554/ryan-todd">Piper Sandler analyst Ryan Todd</a> maintained an Overweight rating and raised the price target from $180 to $204 on April 18. This analyst has an accuracy rate of 73%.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5a09bf4eefacff00012b1861/justin-jenkins">Raymond James analyst Justin Jenkins</a> maintained an Outperform rating and increased the price target from $170 to $174 on April 15. This analyst has an accuracy rate of 79%.</li>
</ul>
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<li><a href="https://www.benzinga.com/news/24/08/40102555/wall-streets-most-accurate-analysts-views-on-3-materials-stocks-delivering-high-dividend-yields">Wall Street&#8217;s Most Accurate Analysts&#8217; Views On 3 Materials Stocks Delivering High-Dividend Yields</a></li>
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Trading Ideas

Chevron Gears Up For Q2 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

&nbsp;Marriott International, Inc. recently announced that it has signed an agreement with Zhong An Commercial Group, part of China New City Group, to bring the W Hotels brand to&nbsp;Hangzhou. Anticipated to open in 2031,&nbsp;W Hangzhou&nbsp;will be located at the northwest intersection of Minhe Road and Liyi Road in Qianjiang Century City,&nbsp;Hangzhou&#39;s&nbsp;developing new CBD. With its bold, detail-driven design, elevated service, and engaging always-on programming, the hotel is poised to become a new symbol of luxury hospitality in&nbsp;Hangzhou.

Reported Earlier, Marriott Signs Agreement With Zhong An To Launch W Hangzhou In Qianjiang Century City

SNDL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNDL#NASDAQ">SNDL</a>) reported quarterly losses of $(0.02) per share. This is a 83.33 percent increase over losses of $(0.12) per share from the same period last year. The company reported quarterly sales of $228.13 million which beat the analyst consensus estimate of $176.43 million by 29.30 percent. This is a 1.63 percent decrease over sales of $231.92 million the same period last year.

SNDL

SNDL Q2 EPS $(0.02) Up From $(0.12) YoY, Sales $228.13M Beat $176.43M Estimate

Apple Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) latest foray into spatial computing, the Vision Pro, is showing early signs of <a href="https://www.benzinga.com/news/earnings/24/08/40116376/apple-q3-earnings-beat-expectations-tim-cook-highlights-breakthrough-ai-platform-installed-base-of-">success in the enterprise market</a>, CEO Tim Cook underscored during the company&#8217;s earnings call.
What Happened: &#8220;We&#8217;ve seen great interest for Vision Pro in the enterprise, where it can empower companies large and small to pursue their best ideas like never before,&#8221; Cook stated, highlighting the device&#8217;s potential beyond consumer applications.
Cook mentioned that organizations like Boston Children&#8217;s Hospital and passenger airline Lufthansa use Vision Pro to create innovative spatial computing experiences for workforce training. This early adoption indicates the device&#8217;s potential to revolutionize professional development across various industries.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
He also highlighted the growing app ecosystem around Vision Pro, with over 2,500 native spatial apps and 1.5 million compatible apps for Vision OS. This robust ecosystem could be a key driver for enterprise adoption, allowing businesses to customize the device to their needs, he said.
Apple&#8217;s Vision Pro is gaining traction in the enterprise market at a time when the company is also advancing its artificial intelligence initiatives. 
See Also: <a href="https://www.benzinga.com/news/24/07/40013038/bill-gates-ex-wife-reveals-she-shares-jeff-bezos-ex-wife-mackenzie-scotts-parenting-style-she-was-tr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bill Gates&#8217; Ex-Wife Reveals She Shares Jeff Bezos&#8217; Ex-Wife MacKenzie Scott&#8217;s Parenting Style</a>
Why It Matters: The success of Apple&#8217;s Vision Pro in the enterprise market is a significant development for the company. This comes on the heels of Apple CFO Luca Maestri announcing that the company <a href="https://www.benzinga.com/markets/equities/24/08/40121660/apple-cfo-luca-maestri-pumps-confidence-says-iphone-maker-returned-32b-to-shareholders-in-q3">returned over $32 billion to shareholders</a> in the third quarter, including $3.9 billion in dividends and $26 billion through stock repurchases.
Despite a 6.5% yearly decline in sales in Greater China, CEO Tim Cook remains <a href="https://www.benzinga.com/news/24/08/40121931/tim-cook-remains-optimistic-about-greater-china-market-despite-6-5-yearly-decline-confident-in-the-l">optimistic about long-term prospects</a> in the region. He highlighted that the sales decrease was less than 3% on a constant currency basis and pointed to positive indicators like a record iPhone install base. 
Analysts have also been positive about Apple&#8217;s <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40122623/apple-analyst-warns-investors-about-betting-against-tech-giant-as-iphone-maker-on-c">third-quarter performance</a>, with Wedbush analyst Daniel Ives calling it a &#8220;gold-medal performance.&#8221; He noted that revenue exceeded expectations and iPhone sales were strong. 
Apple&#8217;s third-quarter earnings <a href="https://www.benzinga.com/news/earnings/24/08/40116376/apple-q3-earnings-beat-expectations-tim-cook-highlights-breakthrough-ai-platform-installed-base-of-">report beat expectations</a>, with revenue growing year-over-year. However, the stock initially saw a slight dip due to concerns over China and Services performance. 
Price Action: Apple&#8217;s stock closed at $218.36 on Thursday, down 1.68% for the day. In after-hours trading, the stock increased by 0.57%. Year to date, Apple&#8217;s stock has risen by 17.63%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/earnings/24/07/40054145/nvidia-stock-is-surging-after-the-bell-whats-going-on?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia Stock Is Surging After The Bell: What&#8217;s Going On?</a></li>
</ul>
Photo courtesy: Apple
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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