Latest news for Global X CleanTech ETF (NASDAQ:CTEC)

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The Fund invests at least 80 percent of its total assets, plus borrowings for investment purposes (if any), in the securities of the Indxx Global CleanTech Index (Underlying Index) and in American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs) based on the securities in the Underlying Index. The Fund's 80 percent investment policy is non-fundamental and requires 60 days prior written notice to shareholders before it can be changed. The Fund may lend securities representing up to one-third of the value of the Funds total assets (including the value of the collateral received).

First Solar Inc

Samsung Sdi Co Ltd

Vestas Wind Systems A/S

Nextracker Inc

Enphase Energy Inc Common Stock

Xinyi Solar Holdings Ltd

Johnson Matthey Plc

Nordex Se

Bloom Energy Corporation Com Cl A

Global X CleanTech ETF

Solar panels SolarEdge Technologies SEDG

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CTEC

Nextracker shares up on better-than-expected Q4 results. Revenue rose 42%, adjusted EBITDA up to $159.6M, and backlog of $4B.

Why Is Nextracker Stock Seeing Blue Skies Premarket Wednesday?

Trading Ideas

SEDG

SolarEdge Technologies, Inc. (NASDAQ: SEDG) announced its first quarter FY24 results, with revenues of $204.4 million and a net loss of $(1.90) per share. The company also repurchased shares and expects improvement in revenues as installations increase and new products are released.

SolarEdge&#39;s Q1 Results Cast Shadow With Revenue Decline, But CEO Remains Optimistic

The Company intends to use the net proceeds from the offering primarily for product development activities, including one or more clinical trials with TTX-MC138, its lead therapeutic candidate, and related investigational new drug (IND) enabling studies, and for working capital and other general corporate purposes.

RNAZ

Reported Earlier, TransCode Therapeutics Prices $3M Public Offering Of 10M Common Shares At $0.30/Share

VSTO

Reported Earlier, Vista Outdoor Clarifies Position, No Restrictions On MNC Capital's Tender Offer, Reaffirms Support For CSG Transaction

HMN Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HMNF#NASDAQ">HMNF</a>) reported quarterly earnings of $0.22 per share. This is a 31.25 percent decrease over earnings of $0.32 per share from the same period last year. The company reported $9.70 million in sales this quarter. This is a 0.02 percent increase over sales of $9.70 million the same period last year.

HMNF

HMN Finl Q2 EPS $0.22 Down From $0.32 YoY, Sales $9.702M Up From $9.70M YoY

With U.S. stock futures trading lower this morning on Tuesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) to report quarterly earnings at $1.85 per share on revenue of $84.20 billion after the closing bell. Alphabet shares rose 0.1% to $181.93 in after-hours trading.</li>
<li>Analysts expect Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) to post quarterly earnings at 62 cents per share on revenue of $24.73 billion. The company will release earnings after the markets close. Tesla shares rose 0.04% to $251.60 in after-hours trading.</li>
<li>Logitech International S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOGI#NASDAQ">LOGI</a>) reported better-than-expected results for its first quarter and raised its full-year guidance. Logitech shares gained 0.5% to $92.49 in the after-hours trading session.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Before the markets open, The Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) is projected to post quarterly earnings at 81 cents per share on revenue of $11.75 billion. Coca-Cola shares fell 0.2% to $64.67 in the after-hours trading session.</li>
<li>Analysts expect General Motors Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) to post quarterly earnings at $2.72 per share on revenue of $45.30 billion before the opening bell. General Motors shares rose 1.2% to $50.15 in after-hours trading.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39881674/top-4-tech-stocks-that-may-explode-in-july">Top 4 Tech Stocks That May Explode In July</a></li>
</ul>
Photo courtesy: Shutterstock

Pre-Market Outlook

Markets

GOOG

GOOGL

LOGI

TSLA

Tesla, Alphabet And 3 Stocks To Watch Heading Into Tuesday

Sen. Cynthia Lummis (R-Wyo.), a known cryptocurrency and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) advocate, piqued the interest of the broader community with a cryptic post.
What Happened: On Monday, Senator Lummis took to X to say, &#8220;Big things are in store this week. Stay tuned!&#8221; What grabbed everyone&#8217;s attention was the way in which the first letter of the sentence, &#8216;₿&#8216; was written, symbolizing Bitcoin.
<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">₿ig things are in store this week. Stay tuned!
&mdash; Senator Cynthia Lummis (@SenLummis) <a href="https://twitter.com/SenLummis/status/1815407223079637074?ref_src=twsrc%5Etfw">July 22, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39872368/mark-cuban-says-trumps-re-election-wont-impact-bitcoins-price-dogecoin-killer-shiba-inus-b?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Says Trump&#8217;s Re-Election Won&#8217;t Impact Bitcoin&#8217;s Price, &#8216;Dogecoin Killer&#8217; Shiba Inu&#8217;s Burn Rate</a>
In no time, Lummis&#8217; comment feed was flooded with maximalists who interpreted the signal as a hint about Republican nominee Donald Trump&#8217;s potential proclamation of Bitcoin as a strategic reserve asset if he returns to power. <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39897980/potential-trump-victory-could-stir-bitcoin-market-bernstein-analysts-predict-implications-">Rumors of such a possibility</a> are already floating around. 
Why It Matters: The senator&#8217;s mysterious post comes days after she<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39865585/bitcoin-unaffected-by-global-it-outage-prediction-markets-dont-see-quick-resolution"> praised Bitcoin&#8217;s resilience amid the global IT outage that paralyzed many systems</a>. She said, &#8220;Do you know what form of currency hasn't been affected by widespread cyber outages? Bitcoin.&#8221;
Previously, Lummis had <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39470508/senator-cynthia-lummis-applauds-state-led-bitcoin-rights-laws-this-is-why-bitcoiners-shoul">applauded state-led Bitcoin rights laws,</a> emphasizing the importance of states&#8217; rights in the cryptocurrency landscape. She had lauded the passing of a law aimed at defending Bitcoin rights and banning Central Bank Digital Currencies in Louisiana.
Price Action: At the time of writing, Bitcoin was exchanging hands at $66,457.77, down 1.66% 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>. 
Photo Courtesy: Wikimedia Commons
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39877439/elon-musk-jokes-hes-an-alien-scientist-with-a-japanese-pseudonym-but-dogecoin-designer-cla?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">P</a><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39897980/potential-trump-victory-could-stir-bitcoin-market-bernstein-analysts-predict-implications-">otential Trump Victory Could Stir Bitcoin Market, Bernstein Analysts Predict — Implications For These Seven Crypto Stocks Outlined</a></li>
</ul>

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

Cryptocurrency

Politics

$BTC

Pro-Bitcoin Senator Cynthia Lummis Stirs Crypto Community With 'Big Things Are In Store This Week' Message

Tesla Cybertruck customers have been trying a variety of wraps on their otherwise stainless steel vehicle, many of which company CEO Elon Musk seems to like. 
What Happened: A few weeks ago, Utah-based Macie, who wraps, tints, and details vehicles, shared a small video of a Cybertruck wrapped in aquamarine which glints purple and blue when hit by light. 
&#8220;The easiest car I've ever wrapped,&#8221; Macie, who goes by the username &#8220;Utah County Customs,&#8221; wrote. Macie has previously posted videos of her wrapping and detailing multiple cars including a Toyota 4Runner, and even a 1991 GMC Syclone.
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="1003" height="899" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/23014744/image-35.png" alt="" class="wp-image-450223" style="width:541px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/23014744/image-35.png 1003w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/23014744/image-35-300x269.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/23014744/image-35-768x688.png 768w" sizes="(max-width: 1003px) 100vw, 1003px" /></figure>
Musk responded to the video of the glinting Cybertruck on social media platform X, terming it &#8220;Cool.&#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">Cool
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1815604905979089266?ref_src=twsrc%5Etfw">July 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: The Cybertruck&#8217;s stainless steel body allows no exterior paint. However, customers can wrap the truck with either wraps available at Tesla&#8217;s online shop or more individualistic wraps from third-party customizers.
Several interestingly wrapped Cybertrucks have emerged on roads and social media to date. While celebrity couple Jay-Z and Beyoncé wrapped their <a href="https://www.benzinga.com/general/entertainment/24/02/37406396/jay-z-beyonc-personalize-their-cybertruck-elon-musk-reacts">Cybertruck in matte black</a>, Mexican entrepreneur Alejandro Salomon designed his vehicle wrap after the <a href="https://www.benzinga.com/news/24/05/38628243/elon-musk-impressed-by-tesla-cybertrucks-world-war-2-inspired-wrap-cool">P-51 Mustang Bomber</a>.
Rapper Lil Baby designed his vehicle wrap to <a href="https://www.benzinga.com/news/24/07/39613831/elon-musk-thinks-cybertruck-wrap-resembling-marvel-superhero-deadpool-looks-cool">resemble a big apple </a>and footballer Isaiah Simmons wrapped it in <a href="https://www.benzinga.com/news/24/06/39562595/elon-musk-reacts-to-footballer-isaiah-simmons-white-tesla-cybertruck-parked-up-in-manhattan-nice">matte white with white wheel caps</a>. Elon Musk responded to these, terming them &#8220;cool&#8221; and &#8220;nice.&#8221;
Tesla&#8217;s online shop also provides different color paint films to wrap the vehicle, including stealth black, rose gold, and even abyss blue. The colored wraps are priced between $6,000 and $6,500. A clear paint film, meanwhile, is priced at $5,000.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39880470/elon-musk-pushes-back-optimus-timeline-says-teslas-humanoid-robot-will-hopefully-be-available-for-ot">Elon Musk Pushes Back Optimus Timeline, Says Tesla&#8217;s Humanoid Robot Will &#8216;Hopefully&#8217; Be Available For Other Companies By 2026</a></li>
</ul>
Photo courtesy: Shutterstock

Tech

From Matte Black To Aquamarine Blue: Tesla Cybertruck Wraps Turn Heads And Win CEO Elon Musk's Approval

For the full year 2024, the Company expects:
&nbsp;
<table align="center">
<tbody>
<tr>
<td>&nbsp;</td>
<td>Updated Guidance</td>
<td>Prior Guidance</td>
</tr>
<tr>
<td>Full Year 2024 Guidance</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>ASM growth (YoY)</td>
<td>~ -14%</td>
<td>-16% to -18%</td>
</tr>
<tr>
<td>EBITDAR margin</td>
<td>32% to 34%</td>
<td>32% to 34%</td>
</tr>
<tr>
<td>CAPEX&nbsp;(2)</td>
<td>$400 million</td>
<td>$400 million</td>
</tr>
<tr>
<td>Average USD/MXN rate</td>
<td>Ps.17.80 to 18.00</td>
<td>Ps.17.30 to 17.50</td>
</tr>
<tr>
<td>Average U.S. Gulf Coast jet fuel price</td>
<td>$2.60 to $2.70</td>
<td>$2.60 to $2.70</td>
</tr>
</tbody>
</table>

VLRS

Volaris Updates 2024 Guidance, Anticipates ASM Growth (YoY) Of About -14% And An EBITDAR Margin Of 32%-34%

2024 Guidance
For the third quarter of 2024, the Company expects:
&nbsp;
<table align="center">
<tbody>
<tr>
<td>&nbsp;</td>
<td>3Q&rsquo;24</td>
<td colspan="3">3Q&rsquo;23&nbsp;(1)</td>
</tr>
<tr>
<td>3Q&rsquo;24 Guidance</td>
<td>&nbsp;</td>
<td colspan="3">&nbsp;</td>
</tr>
<tr>
<td>ASM growth (YoY)</td>
<td>~ -14%</td>
<td colspan="3">+8.2%</td>
</tr>
<tr>
<td>TRASM</td>
<td>~$9.3 cents</td>
<td colspan="3">$8.37 cents</td>
</tr>
<tr>
<td>CASM ex fuel</td>
<td>~$5.6 cents</td>
<td colspan="3">$4.91 cents</td>
</tr>
<tr>
<td>EBITDAR margin</td>
<td>~33%</td>
<td colspan="3">24.4%</td>
</tr>
<tr>
<td>Average USD/MXN rate</td>
<td>Ps.18.40 to 18.60</td>
<td colspan="3">Ps.17.06</td>
</tr>
<tr>
<td>Average U.S. Gulf Coast jet fuel price</td>
<td>$2.60 to $2.70</td>
<td colspan="3">$2.77</td>
</tr>
</tbody>
</table>
(1) For convenience purposes, actual reported figures for 3Q&#39;23 are included.

Volaris Provides Q3 Guidance: Expects ASM (YoY) Of About -14%, TRASM Of ~$9.3 Cents, CASM Excluding Fuel Of ~$5.6 Cents, And An EBITDAR Margin Of ~33%

The U.S. government was seen moving millions in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) to cryptocurrency exchange Coinbase, sparking speculations about the true motivation behind the transfer.
What Happened: According to on-chain data, a wallet linked to the U.S. government deposited 58.74 BTC, worth nearly $4 million, to Coinbase Prime &#8211; a brokerage platform meant for institutional investors.&nbsp;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The US Government deposited another 58.74 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> ($3.96M) to <a href="https://twitter.com/hashtag/CoinbasePrime?src=hash&amp;ref_src=twsrc%5Etfw">#CoinbasePrime</a> 7 hours ago. So far in 2024, the US government has moved out 6,261 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> at ~$62,538 ($392M), mostly after the price rose in late Feb. Among those tokens, 5,999 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> ($376M) went to Coinbase. The US… <a href="https://t.co/T2o9YKPY10">pic.twitter.com/T2o9YKPY10</a>
&mdash; Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1815561700810350939?ref_src=twsrc%5Etfw">July 23, 2024</a></blockquote>
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It is unclear whether the government&#8217;s goal is to unload the holdings or if it is simply a routine fund management exercise.
Additional data shows that the funds were seized by the U.S. Department of Justice from <a href="https://www.justice.gov/usao-md/pr/father-and-son-sentenced-laundering-drug-trafficking-bitcoin-proceeds-intended-federal">Ryan Farace</a> who was convicted for selling Xanax tablets through Bitcoin on darknet marketplaces.
With the latest transfer, the wallet tied to the Farace Seizure has been emptied. 
See Also:<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39359780/dogecoin-shiba-inu-floki-are-dino-coins-says-trader-he-likes-these-3-other-meme-coins-as-b?itm_source=parsely-api"> </a>Dogecoin Up 15% In 7 Days And One Indicator Shows It May Be &#8216;Primed For An Aggressive Up Move&#8217;
Why It Matters: The U.S. government has moved out as many as 6,261 state-owned Bitcoins, worth $392 million, in 2024, most of them after the price began to rise in February.
As of this writing, the government still holds more than 213,000 Bitcoin, worth more than $14 billion as per current market prices.&nbsp;
These transfers occur as anticipation grows that Republican presidential candidate Donald Trump <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39897980/potential-trump-victory-could-stir-bitcoin-market-bernstein-analysts-predict-implications-">may announce Bitcoin as a strategic reserve asset</a> in the upcoming Bitcoin Conference.&nbsp;
Dennis Porter, CEO and Co-Founder of Satoshi Act Fund, has also <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39866338/bitcoin-as-a-strategic-reserve-asset-for-the-us-expert-details-how-trump-could-make-it-hap">suggested adding Bitcoin as a reserve asset</a> to stabilize the value of the U.S. dollar.
Price Action: At the time of writing, Bitcoin was exchanging hands at $66,827.55, down 1.56% 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>. 
Image via Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39897980/potential-trump-victory-could-stir-bitcoin-market-bernstein-analysts-predict-implications-">Potential Trump Victory Could Stir Bitcoin Market, Bernstein Analysts Predict — Implications For These Seven Crypto Stocks Outlined</a></li>
</ul>

Bitcoin Worth Millions Moved By US Government Amid Rumors Of Strategic Reserve Asset Endorsement

Controladora Vuela (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLRS#NYSE">VLRS</a>) reported quarterly earnings of $0.09 per share which beat the analyst consensus estimate of $0.05 by 80 percent. This is a 80 percent increase over earnings of $0.05 per share from the same period last year. The company reported quarterly sales of $726.000 million which missed the analyst consensus estimate of $741.970 million by 2.15 percent. This is a 7.16 percent decrease over sales of $782.000 million the same period last year.

Earnings Beats

Earnings Misses

Controladora Vuela Q2 2024 GAAP EPS $0.09 Beats $0.05 Estimate, Sales $726.000M Miss $741.970M Estimate

CPAC

Reported Late Monday, Cementos Pacasmayo Q2 EPS S/0.09 Down From S/0.10 YoY; Sales S/457.1M Up From S/442M YoY

The all-cash transaction represents a multiple of approximately 15x the projected EBITDA at full utilization and is expected to close in 2H 2024, subject to customary closing conditions.

EQIX

Equinix To Acquire Three High-Performance Data Centers In The Philippines, Strengthening Southeast Asia Presence

Revised&nbsp;Guidance
In accordance with the results as of June 30, 2024, as well as traffic growth expectations, the Company updates the growth&nbsp;guidance&nbsp;for the year 2024:
<table>
<tbody>
<tr>
<td>GUIDANCE</td>
<td>2024 vs 2023</td>
</tr>
<tr>
<td>Passenger traffic</td>
<td>(5%) - (3%)</td>
</tr>
<tr>
<td>Aeronautical revenues</td>
<td>(4%) - (2%)</td>
</tr>
<tr>
<td>Non-aeronautical revenues</td>
<td>20%&nbsp;-&nbsp;22%</td>
</tr>
<tr>
<td>Total Revenue</td>
<td>2%&nbsp;-&nbsp;4%</td>
</tr>
<tr>
<td>EBITDA</td>
<td>(1%) -&nbsp;1%</td>
</tr>
<tr>
<td>Margin EBITDA</td>
<td>67%&nbsp;+-&nbsp;1%</td>
</tr>
<tr>
<td>CAPEX</td>
<td>Ps. 9.0 billion</td>
</tr>
</tbody>
</table>

Grupo Aeroportuario del Pacífico For 2024 Expects Total Revenue Growth Of 2%-4%, And Passenger Traffic Of (5%) - (3%)

Grupo Aeroportuario del (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAC#NYSE">PAC</a>) reported quarterly earnings of $3.46 per share which beat the analyst consensus estimate of $3.01 by 14.92 percent. This is a 45.95 percent increase over earnings of $2.37 per share from the same period last year. The company reported quarterly sales of $421.466 million which missed the analyst consensus estimate of $454.752 million by 7.32 percent. This is a 10.85 percent decrease over sales of $472.780 million the same period last year.

Grupo Aeroportuario del Q2 2024 GAAP EPADS $3.46 Beats $3.01 Estimate, Sales $421.466M Miss $454.752M Estimate

Norsk Hydro (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NHYDY#OTC">NHYDY</a>) reported quarterly earnings of $0.09 per share which beat the analyst consensus estimate of $0.07 by 30 percent. This is a 44.85 percent decrease over earnings of $0.17 per share from the same period last year. The company reported quarterly sales of $4.78 billion which beat the analyst consensus estimate of $4.74 billion by 0.91 percent. This is a 4.53 percent decrease over sales of $5.01 billion the same period last year.

NHYDY

Norsk Hydro Q2 EPS $0.09 Beats $0.07 Estimate, Sales $4.78B Beat $4.74B Estimate

Amazon.com Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) strategy of selling its Echo devices at low prices in the hope of generating profits elsewhere within the company has not yielded the expected results. The company has incurred billions in losses as a result.
What Happened: Amazon&#8217;s Echo devices, which feature the Alexa voice assistant, have been a popular choice for millions of customers. However, the company&#8217;s plan to capitalize on the devices&#8217; popularity by driving sales on its e-commerce platform has not panned out, <a href="https://www.wsj.com/tech/amazon-alexa-devices-echo-losses-strategy-25f2581a?mod=latest_headlines">reported</a> The Wall Street Journal on Monday, citing internal documents and people familiar with the business.
Customers primarily utilized the Echo for free applications like setting alarms and checking the weather. "We worried we've hired 10,000 people and we've built a smart timer," remarked a former senior employee, according to the report.
Amazon&#8217;s devices business, which includes Echos, Kindles, Fire TV Sticks, and video doorbells, has incurred losses of over $25 billion between 2017 and 2021. This is a significant miscalculation made under the leadership of founder Jeff Bezos, which current CEO Andy Jassy is working to rectify, according to the documents.
As part of the plan to reverse these losses, Amazon is set to launch a paid tier of Alexa this month. This move, however, is met with skepticism by some of the engineers working on the project.
An Amazon spokesperson stated that the devices division has created several profitable ventures and is well-positioned for continued success, adding: "Hundreds of millions of Amazon devices are used by customers around the world, and to us, there is no greater measure of success."&nbsp;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39872368/mark-cuban-says-trumps-re-election-wont-impact-bitcoins-price-dogecoin-killer-shiba-inus-b?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Says Trump&#8217;s Re-Election Won&#8217;t Impact Bitcoin&#8217;s Price, &#8216;Dogecoin Killer&#8217; Shiba Inu&#8217;s Burn Rate Increases And More: This Week In Cryptocurrency</a>
Jassy is also re-evaluating the obscure Bezos-era metric called &#8220;downstream impact&#8221; inside Amazon, which assigns a financial value to a product or service based on how customers spend within Amazon&#8217;s ecosystem after they buy it, according to the report. 
This metric, developed in 2011, has been used across Amazon&#8217;s business lines and has been successful in some instances, such as with the Kindle e-reader. However, it has not worked as intended for devices like the Echo.
Why It Matters: Amazon&#8217;s struggles with its devices business come at a time when the company is making significant changes to its Alexa service. In June, it was reported that Amazon was planning a <a href="https://www.benzinga.com/markets/equities/24/06/39433128/amazon-plans-major-alexa-overhaul-with-ai-powered-features-report">major overhaul of its Alexa service</a>, integrating conversational generative AI. This project, known internally as &#8220;Banyan,&#8221; was set to introduce a two-tier system with a premium version potentially costing around $5 monthly.
The Seattle-based company planned to <a href="https://www.benzinga.com/news/24/05/38965886/amazons-generative-ai-upgrade-for-alexa-what-investors-need-to-know">launch a more conversational version of Alexa</a> later in the year, potentially positioning it to better compete with new generative AI-powered chatbots from companies including Alphabet Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) subsidiary Google, and OpenAI.
Additionally, Amazon&#8217;s original book business has seen a resurgence, generating $16.9 billion in gross merchandise sales in the <a href="https://www.benzinga.com/markets/equities/24/06/39427936/jeff-bezos-original-book-business-at-amazon-garnered-16-9b-in-10-months-with-more-than-half-of-i">first 10 months of 2022</a>. This success contrasts with the financial struggles of its devices business, highlighting the diverse performance across Amazon&#8217;s various sectors.
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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/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Management

AMZN

Jeff Bezos-Era 'Downstream Impact' Losing Its Mojo? Amazon CEO Andy Jassy Is Reportedly Rethinking Alexa Devices Business Model Resulting In Billions Worth Of Losses

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<li>Released as part of this year&#39;s global Barbie Fashionistas lineup, Barbie partnered with the American Foundation for the Blind and National Down Syndrome Society to ensure doll designs accurately reflect the community they are designed to represent</li>
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A week before the <a href="https://www.benzinga.com/markets/equities/24/07/39789294/alibabas-ai-tool-powers-paris-olympics-carbon-neutral-efforts-report">2024 Summer Olympics</a> commences,&nbsp;Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) announced <a href="https://www.benzinga.com/news/24/03/37950998/apple-might-finally-introduce-this-much-requested-maps-feature-in-ios-18">significant updates</a> to its Maps app and other features.
What Happened: Apple has revamped its Maps app for Paris, the host city of&nbsp;the 2024 Summer Olympics, scheduled to commence on July 26. 
The update includes 3D landmarks of all permanent venues and detailed renderings of iconic sites. The Maps&nbsp;app will also display pop-up locations, including&nbsp;temporary venues, souvenir shops, and&nbsp;public gathering sites.
See Also:&nbsp;<a href="https://www.benzinga.com/top-stories/24/07/39883235/can-tesla-q2-earnings-spark-a-golden-cross-heres-what-the-charts-indicate?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Can Tesla Q2 Earnings Spark A Golden Cross? Here&#8217;s What The Charts Indicate</a>
<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">Apple Maps has just been updated for <a href="https://twitter.com/hashtag/Paris2024?src=hash&amp;ref_src=twsrc%5Etfw">#Paris2024</a> Summer Olympics. &#x1f633; New update includes stunning 3D models of Olympic venues, including temporary ones. Here are my favorites &#x1f447; <a href="https://t.co/UC0mooAPQl">pic.twitter.com/UC0mooAPQl</a>
&mdash; Nikias Molina (@NikiasMolina) <a href="https://twitter.com/NikiasMolina/status/1815328485864325228?ref_src=twsrc%5Etfw">July 22, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Apple Maps will also provide real-time&nbsp;updates on road closures, advisories due to the games, and&nbsp;curated Maps Guides for restaurants,&nbsp;hotels, and shopping.
The tech giant plans to spotlight&nbsp;popular events like gymnastics and swimming in the App Store and recommends users&nbsp;download the official Paris 2024&nbsp;Olympics app.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: This move by Apple comes after a series of significant developments in its mapping services. Last year in September, during the antitrust trial against Google, it was revealed that <a href="https://www.benzinga.com/news/23/09/34745455/googles-map-dominance-crumbles-as-apple-maps-surges-on-iphones-reveals-finance-vp">Apple Maps saw a surge in usage on iPhones</a>.
This led to a significant decline in Google&#8217;s map usage on Apple devices. This shift resulted from Apple replacing Google Maps with its native app on iPhones.
The Summer Olympics are set to commence next Friday with the Opening Ceremony scheduled for 1:30 p.m. Eastern Time (7:30 p.m. Paris time). The competitions will run through August 11.
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Image via CardMapr/ Unsplash
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

AAPL

Apple Maps Adds 'Wow' Factor To 2024 Summer Olympics By Adding 3D Models Of All Venues In Paris

Independent presidential candidate Robert F. Kennedy Jr. reportedly engaged in discussions with former President Donald Trump about endorsing his campaign and potentially taking up a senior role in a second Trump administration.
What Happened: Kennedy, who is running as an independent candidate, held talks with Trump about endorsing his campaign and potentially taking up a senior role in a Trump administration, The Washington Post <a href="https://www.washingtonpost.com/politics/2024/07/22/rfk-jr-floated-job-trump-white-house-he-weighed-endorsing-trump/">reported</a>, citing four people familiar with the matter. 
These discussions took place shortly after an assassination attempt on Trump during a rally on Jul. 13.
Despite the talks, no formal agreement was reached, with concerns within Trump&#8217;s circle about the implications of offering a job in exchange for a political endorsement. Kennedy, a vocal critic of vaccines, expressed his willingness to discuss children&#8217;s health and the chronic disease epidemic with any political party.
Trump and Kennedy also discussed the possibility of Kennedy leaving the presidential race and endorsing Trump. However, Trump&#8217;s advisers expressed reservations about appointing Kennedy, given his stance on vaccines.
Kennedy stated his willingness to discuss children&#8217;s health with any political party, noting that Trump has been more receptive to him than the Democratic National Committee. &#8220;I have a lot of respect for President Trump for reaching out to me,&#8221; Kennedy said in an interview on Monday.
Trump&#8217;s campaign spokeswoman, Danielle Alvarez, confirmed the meeting, stating "President Trump met with RFK and they had a conversation about the issues just as he does regularly with important figures in business and politics because they all recognize he will be the next president of the United States."
Team Kennedy did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
See Also: <a href="https://www.benzinga.com/news/24/07/39875181/trump-wants-republicans-reimbursed-after-biden-quits-we-have-to-start-all-over-again?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Wants Republicans Reimbursed After Biden Quits: &#8216;We Have To Start All Over Again&#8217;</a>
Why It Matters: Kennedy&#8217;s campaign has reportedly faced <a href="https://www.benzinga.com/markets/equities/24/07/39871966/kennedys-campaign-still-in-the-red-despite-running-mate-shanahans-2-5m-boost-will-he-exit-the-pr">significant financial challenges</a>, despite a $2.5 million boost from his running mate, Nicole Shanahan. The campaign raised nearly $5.4 million but spent over $6.2 million, highlighting ongoing financial hurdles. 
Additionally, President Joe Biden recently announced his withdrawal from <a href="https://www.benzinga.com/news/24/07/39874154/bidens-exit-from-presidential-race-sparks-massive-reactions-from-first-lady-gavin-newsom-marjorie-ta">the 2024 presidential race</a>, sparking reactions from various political figures and introducing new uncertainties into the election.
Biden&#8217;s exit has introduced new uncertainties into the election, causing traders to reassess their market positions. This has implications for the so-called &#8220;Trump trade,&#8221; which refers to market strategies <a href="https://www.benzinga.com/news/24/07/39883677/investors-anticipate-unraveling-of-trump-trade-as-biden-exits-presidential-race-but-analyst-says-its">banking on stocks</a> that would likely benefit from a potential return of Trump to the White House.
Last week, a video of a phone call between Trump and Kennedy was posted on social media and later verified by Kennedy. Trump is heard saying, "I would love you to do something – and I think it would be so good for you and so big for you," seemingly <a href="https://www.benzinga.com/news/24/07/39807224/trump-told-robert-kennedy-jr-over-the-phone-that-the-bullet-felt-like-the-worlds-largest-mosquito">referring to the 2024 election race</a>.
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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/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Robert Kennedy Jr. Eyes Role In Trump's Administration Amid Endorsement Chatter: Report

Outlook
Logitech raised its full-year&nbsp;outlook&nbsp;for Fiscal Year 2025:
<table cellspacing="0">
<tbody>
<tr>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
Previous FY25&nbsp;outlook
</td>
<td colspan="1" rowspan="1">
New FY25&nbsp;outlook
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Sales
</td>
<td colspan="1" rowspan="1">
$4.3&nbsp;-&nbsp;$4.4 billion
</td>
<td colspan="1" rowspan="1">
$4.34&nbsp;-&nbsp;$4.43 billion
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Sales growth (in US dollars, year over year)
</td>
<td colspan="1" rowspan="1">
0%&nbsp;-&nbsp;2%
</td>
<td colspan="1" rowspan="1">
1%&nbsp;-&nbsp;3%
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Non-GAAP operating income
</td>
<td colspan="1" rowspan="1">
$685&nbsp;-&nbsp;$715 million
</td>
<td colspan="1" rowspan="1">
$700&nbsp;-&nbsp;$730 million
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Non-GAAP op. inc. growth / (decline) (year over year)
</td>
<td colspan="1" rowspan="1">
(2)% -&nbsp;2%
</td>
<td colspan="1" rowspan="1">
0%&nbsp;-&nbsp;4%
</td>
</tr>
</tbody>
</table>

Logitech Raises 2025 Outlook, Now Expects Sales Of $4.34B-$4.43B (Prior $4.3B-$4.4B) Vs. $4.369B Consensus And Non-GAAP Operating Income Of $700M-$730M (Prior $685M-$715M)

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It's Prove It Time For AI Stocks

Global X CleanTech ETF declares semi-annual distribution of $0.0253

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