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The Portfolio is designed to purchase emerging market equity securities that are deemed by the Advisor to be value stocks at the time of purchase, which may include frontier markets (emerging market countries in an earlier stage of development), authorized for investment by the Advisors Investment Committee (Approved Markets). An equity issuer is considered to have a low relative price (i.e., a value stock) primarily because it has a low price in relation to its book value. In assessing relative price, the Advisor may consider additional factors such as price to cash flow or price to earnings ratios.

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Earnings Scheduled For February 6, 2025

Jamie Dimon, the Chairman and Chief Executive Officer of&nbsp;JPMorgan Chase &amp; Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), has recently shared insights into why he chose not to pursue a bid for the U.S. presidency. His decision was influenced by family considerations and an absence of political experience.
What Happened: Dimon confirmed in an episode of the How Leaders Lead podcast with host David Novak, that he had considered a political career. However, he ultimately prioritized his family and his responsibilities at JPMorgan.
The JPMorgan Chase CEO voiced concerns about the potential impact on his family life. &#8220;Had I run and won, when I was walking into that White House I'd be waving goodbye to my family for four years," he stated.
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Dimon, who earned $39 million in 2024, also cited his lack of political experience as a contributing factor to his decision. He suggested that business acumen may not necessarily be applicable in the political realm and that prior experience in Washington, D.C., should be a prerequisite for a presidential campaign.
Despite his current stance, Dimon did not completely dismiss the possibility of a future in politics. &#8220;I&nbsp;would never rule it out—I'm&nbsp;not making any promise to&nbsp;anyone. If I change my&nbsp;mind, I change my mind,&#8221; he commented.
SEE ALSO: <a href="https://www.benzinga.com/insights/options/25/02/43504542/jpmorgan-chase-unusual-options-activity-for-february-05">JPMorgan Chase Unusual Options Activity For February 05</a>
Why It Matters: Dimon&#8217;s political inclinations have been a topic of interest, given his active engagement in public discourse. In January, he <a href="https://www.benzinga.com/news/25/01/43150451/jamie-dimo-supports-trumps-tariffs-if-its-a-little-inflationary-but-its-good-for-national-security-so-be-it">publicly supported President</a> Donald Trump's proposed tariffs, arguing that the national security benefits outweighed potential inflationary impacts.
Moreover, Dimon&#8217;s ability to bridge gaps was highlighted when he <a href="https://www.benzinga.com/startups/25/01/43339032/jamie-dimon-calls-elon-musk-our-einstein-after-years-of-feuds-weve-hugged-it-out-and-settled-differences-at-tech-summit">reconciled</a> with Tesla and SpaceX CEO Elon Musk after a series of public disputes and called him &#8216;Our Einstein&#8217;. Dimon also expressed his interest in assisting Musk with his new role in budget cuts at the Department of Government Efficiency (DOGE). Reports suggest that Musk could team up with Jamie Dimon to persuade bond markets that cost-cutting initiatives at DOGE would be beneficial for U.S. debt.
Over the last 12 months, JPMorgan Chase &amp; Co. stock surged over 50%. The company finished a strong fourth quarter, with a net income of $14 billion, according to data from <a href="http://pro.benzinga.com">Benzinga Pro.</a>
<ul>
<li>READ MORE: <a href="https://www.benzinga.com/25/01/43000684/jpmorgan-q4-earnings-shine-investment-banking-revenue-jumps-46-yy-jamie-dimon-says-inflation-may-persist-for-some-time">JPMorgan Chase Q4 Earnings: Investment Banking Revenue Jumps 46%, CEO Jamie Dimon Says &#8216;Inflation May Persist For Some Time&#8217;</a></li>
</ul>
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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.

News

Politics

Markets

Jamie Dimon Says He Turned Down A Shot At The Presidency As It Means 'Waving Goodbye To My Family,' But The JPMorgan Chief Won't Rule Out A Future Run

Guidance for FY 2025: Total Revenue is expected to increase by a high single-digit percentage and Core EPS is expected to increase by a low double-digit percentage, both at CER

Guidance

AstraZeneca 2025 Guidance: Total Revenue To Grow In High Single Digits, Core EPS In Low Double Digits

AstraZeneca (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>) reported quarterly earnings of $1.04 per share which beat the analyst consensus estimate of $1.03 by 1.46 percent. This is a 44.14 percent increase over earnings of $0.72 per share from the same period last year. The company reported quarterly sales of $14.891 billion which beat the analyst consensus estimate of $14.292 billion by 4.19 percent. This is a 23.84 percent increase over sales of $12.024 billion the same period last year.

Earnings Beats

AstraZeneca Q4 2024 Adj. EPADS $1.04 Beats $1.03 Estimate, Sales $14.891B Beat $14.292B Estimate

The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index remained in the &#8220;Fear&#8221; zone on Wednesday.
U.S. stocks settled higher on Wednesday, with the Dow Jones index gaining more than 300 points during the session.
Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares jumped over 5% on Wednesday in sympathy with AMD after reporting better-than-expected fourth-quarter financial results and Google which raised its FY25 capital expenditure guidance. The Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) reported better-than-expected first-quarter financial results.
On the economic data front, the U.S. trade deficit increased to $98.4 billion in December versus a revised $78.9 billion gap in the previous month and compared to market estimates of a $96.6 billion gap. The ISM services PMI fell to 52.8 in January versus a revised reading of 54 in December, and down from estimates of 54.3.
Most sectors on the S&amp;P 500 closed on a positive note, with real estate, information technology, and financial stocks recording gains on Wednesday. However, communication services and consumer discretionary stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 317 points to 44,873.28 on Wednesday. The S&amp;P 500 rose 0.39% to 6,061.48, while the Nasdaq Composite climbed 0.19% at 19,692.33 during Wednesday's session.
Investors are awaiting earnings results from Bristol-Myers Squibb Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 39.6, the index remained in the &#8220;Fear&#8221; zone on Wednesday, versus a prior reading of 38.9.
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/25/02/43492050/top-3-financial-stocks-that-may-rocket-higher-this-quarter">Top 3 Financial Stocks That May Rocket Higher This Quarter</a></li>
</ul>
Photo courtesy: Shutterstock

Pre-Market Outlook

Trading Ideas

NVDA

Dow Rises Over 300 Points As Nvidia Surges: Investor Sentiment Improves, But Greed Index Remains In 'Fear' Zone

Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) will release its fourth-quarter financial results, before the opening <a href="https://www.benzinga.com/quote/LLY/earnings">bell, on Thursday, Feb. 6, 2025.</a>
Analysts expect the Indianapolis, Indiana-based company to report quarterly earnings at $5.08 per share, up from $2.49 per share in the year-ago period. Eli Lilly projects quarterly revenue of $13.43 billion, compared to $9.35 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
In January, just before the JP Morgan healthcare conference, Eli Lilly announced that it expects 2024 full-year worldwide revenue to be approximately $45.0 billion, representing a 32% growth compared to the previous year versus the consensus of $45.50 billion.
Eli Lilly shares gained 2% to close at $842.18 on Wednesday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/LLY/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Wells Fargo analyst Mohit Bansal maintained an Overweight rating and cut the price target from $1,000 to $970 on Jan. 28, 2025. This analyst has an accuracy rate of 72%.</li>
<li>B of A Securities analyst Tim Anderson reinstated a Buy rating and a price target of $997 on Dec. 10, 2024. This analyst has an accuracy rate of 65%.</li>
<li>Barclays analyst Carter Gould maintained an Overweight rating and cut the price target from $1,025 to $975 on Oct. 31, 2024. This analyst has an accuracy rate of 60%.</li>
<li>Morgan Stanley analyst Terence Flynn reiterated an Overweight rating with a price target of $1,106 on Aug. 27, 2024. This analyst has an accuracy rate of 67%.</li>
<li>BMO Capital analyst Evan Seigerman maintained an Outperform rating and raised the price target from $1,001 to $1,101 on Aug. 9, 2024. This analyst has an accuracy rate of 62%.</li>
</ul>
Considering buying LLY 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/2025/02/06030204/image-47-1024x579.png" alt="" class="wp-image-768704" style="width:564px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/06030204/image-47-1024x579.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/06030204/image-47-300x170.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/06030204/image-47-768x434.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/06030204/image-47.png 1127w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read This Next: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/02/43493237/jim-cramer-this-health-care-stock-is-a-winner-buy-bitcoin-instead-of-coinbase">Jim Cramer: This Health Care Stock Is A &#8216;Winner,&#8217; Buy Bitcoin Instead Of Coinbase</a></li>
</ul>

Price Target

Analyst Ratings

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

With U.S. stock futures trading higher this morning on Thursday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Bristol-Myers Squibb Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) to report quarterly earnings at $1.46 per share on revenue of $11.57 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Bristol-Myers Squibb shares gained 0.5% to $60.00 in after-hours trading.</li>
<li>Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) reported upbeat fourth-quarter financial results on Wednesday. Ford said it sees full-year 2025 adjusted EBIT in a range of $7 billion to $8.5 billion, adjusted free cash flow in a range of $3.5 billion to $4.5 billion, and capital spending in a range of $8 billion to $9 billion. Ford shares tumbled 4.5% to $9.56 in the after-hours trading session.</li>
<li>Analysts are expecting Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) to post quarterly earnings at $1.49 per share on revenue of $187.31 billion. The company will release earnings after the markets close. Amazon shares gained 0.4% to $237.09 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Arm Holdings Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) reported better-than-expected third-quarter financial results for fiscal year 2025 after the market closed on Wednesday. Arm said it expects fourth-quarter revenue of $1.175 billion to $1.275 billion. The company anticipates fourth-quarter adjusted earnings of 48 cents to 56 cents per share. The company also narrowed its full-year guidance. The company now expects full-year revenue of $3.94 billion to $4.04 billion and full-year adjusted earnings of $1.56 to $1.64 per share. Arm shares dipped 6.3% to $162.37 in the after-hours trading session.</li>
<li>Analysts expect Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>) to post quarterly earnings at $2.32 per share on revenue of $9.83 billion before the opening bell. Honeywell shares gained 0.2% to $222.75 in after-hours trading.</li>
</ul>
Check This Out:
<ul>
<li><a href="https://www.benzinga.com/25/02/43492050/top-3-financial-stocks-that-may-rocket-higher-this-quarter"> Top 3 Financial Stocks That May Rocket Higher This Quarter</a></li>
</ul>
Photo courtesy: Shutterstock

Bristol-Myers Squibb, Amazon And 3 Stocks To Watch Heading Into Thursday

ING Groep (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ING#NYSE">ING</a>) reported quarterly earnings of $0.40 per share. This is a 17.71 percent decrease over earnings of $0.48 per share from the same period last year. The company reported $5.77 billion in sales this quarter. This is a 0.88 percent decrease over sales of $5.82 billion the same period last year.

ING Groep Q4 EPS $0.40 Down From $0.48 YoY, Sales $5.77B Down From $5.82B YoY

The Earth Fund—a $10 billion initiative founded by Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) founder Jeff Bezos—has discontinued its support for the Science Based Targets initiative (SBTi), a major verifier of corporate climate goals that influences how companies like Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and H&amp;M attain a "net zero" label.
What Happened: The Earth Fund&#8217;s decision to withdraw support for the SBTi follows staff concerns about its influence and is viewed as Bezos&#8217; response to policies endorsed by President Donald Trump, who recently directed the U.S. to exit the Paris Agreement on climate action, <a href="https://www.ft.com/content/c3bf3f5f-afa2-44ce-8314-18ad321cd983">reported</a> The Financial Times.
The Earth Fund and the IKEA Foundation are the two primary funders of the SBTi. The SBTi has faced criticism, including from its own staff, for last year&#8217;s decision to relax rules on how companies can use carbon credits to reduce their reported supply-chain emissions.
Some employees have speculated whether the meetings held by the Earth Fund in London in the weeks leading up to this decision may have had an influence.
SEE ALSO: <a href="https://www.benzinga.com/general/space/25/01/43372393/bezos-vs-bezos-amazon-files-lawsuit-related-to-washington-post-in-major-conflict-of-interest-for-billionaire">Bezos Vs. Bezos: Amazon Files Lawsuit Related To Washington Post In Major Conflict Of Interest For Billionaire</a>
Why It Matters: The current move comes as a sharp contrast to Bezos&#8217; previous commitment toward the climate initiative. In January, he also emphasized the <a href="https://www.benzinga.com/news/25/01/42801788/jeff-bezos-says-good-old-days-are-such-an-illusion-as-far-as-planet-earth-is-concerned-but-theres-one-exception">urgent need to address environmental issues</a> at the New York Times' DealBook Summit. Despite the Earth Fund withdrawal, the Bezos Foundation continues to back the Greenhouse Gas Protocol and the World Resources Institute.
 The decision to stop backing SBTi is widely seen as a move by the Amazon founder to avoid conflicts with President Trump and strengthen ties. This move could also be directed by the billionaire to alleviate antitrust pressure on his business. 
In April 2023, Bezos&#8217;s e-commerce giant was embroiled in a lawsuit with The Federal Trade Commission (FTC) which alleged that Amazon developed a secret pricing algorithm called &#8220;Project Nessie,&#8221; which could have led to over $1 billion in extra profits. The company secured <a href="https://www.benzinga.com/markets/equities/24/09/41108210/amazon-secures-partial-victory-over-ftc-in-monopoly-case-trial-split-into-two-by-judge">partial victory</a> on the case in September, though.
However, the Bezos Foundation continues to back the Greenhouse Gas Protocol and the World Resources Institute.
<ul>
<li>READ ALSO: <a href="https://www.benzinga.com/25/02/43461425/amazons-advanced-robotics-could-save-10b-annually-by-2030-predicts-morgan-stanley">Amazon&#8217;s Advanced Robotics Push Could Save $10 Billion Annually For Jeff Bezos&#8217; E-Commerce Giant By 2030, Says Morgan Stanley</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Tech

AAPL

Jeff Bezos' $10 Billion Earth Fund Pulls Support From Key Climate Initiative: What Happened?

Described by the management as the &#8216;<a href="https://www.benzinga.com/25/02/43503691/uber-stock-is-down-despite-reporting-strongest-quarter-ever-heres-why-investors-are-tapping-the-brakes">strongest quarter ever</a>,&#8217; the shares of Uber Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) plunged after its fourth-quarter earnings due to foreign exchange headwinds amid a stronger dollar and an earnings per share miss.
What Happened: Uber <a href="https://www.benzinga.com/news/earnings/25/02/43495476/uber-q4-earnings-revenue-beat-growth-in-rides-delivery-and-autonomous-tech-ceo-calls-it-strongest-quarter">missed</a> its adjusted EPS of 48 cents by 52.1% as per <a href="http://pro.benzinga.com/dashboard">Benzinga Pro</a>, coming in 23 cents for the fourth quarter. The stock plunged 7.56% to $64.48 apiece after the report.
However, the more significant headwinds in the said quarter were from a 3% annual loss of $1.1 billion on foreign exchange returns, driven by a broad-based strengthening of the U.S. dollar against foreign currencies, with a notable devaluation of the Argentine peso, Brazilian real, and Mexican peso.
Additionally, the first quarter gross bookings outlook incorporates a substantial forex headwind, emphasizing the impact of currency fluctuations on reported growth.
&#8220;We are expecting FX to be a larger topline headwind in Q1,&#8221; said company CFO Prashanth Mahendra-Rajah during the earnings call.
While the fourth quarter gross booking was up 21% year-on-year to $44.2 billion, the company now expects gross bookings in the range of $42-43.5 billion for the first quarter, representing a 5.5 percentage-point currency headwind.
However, CEO Dara Khosrowshahi added, &#8220;Despite FX headwinds, we expect continued strong growth in Q1 with 17% to 21% constant currency gross bookings growth and continued profit expansion.&#8221;
See Also: <a href="https://www.benzinga.com/25/02/43519066/qualcomm-rides-ai-wave-to-record-quarter-but-q2-guidance-dampens-investors-dragging-the-stock-down">Qualcomm Rides AI Wave To Record Quarter, But Lowered Q2 Guidance Thanks To Seasonality And Apple Shipments Drags Down Stock</a>
Why It Matters: The U.S. dollar prices have risen since President Donald Trump won the elections and has been engaged in tariff negotiations with some of its biggest trading partners including Canada, China, and Mexico. 
Uber&#8217;s fourth-quarter revenue rose 20% year-on-year to $11.96 billion, exceeding estimates. Mobility revenue grew 25% to $6.91 billion, Delivery was up 21% to $3.77 billion, and Freight was flat at $1.28 billion.
Monthly active users reached 171 million, up 14%. The ride-hailer ended the year with $7 billion in cash and cash equivalents and $1.7 billion in free cash flow. Khosrowshahi also cited record growth in users, trips, and bookings, driven by innovation including autonomous vehicles, calling it the &#8220;strongest quarter ever&#8221;.
Price Action: Uber&#8217;s stock has risen 2.07% on a year-to-date basis, whereas the exchange-traded fund tracking S&amp;P 500, SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) advanced 3.35% in the same period. Over the last year, Uber declined by 8.50% and SPY was up 22.32%. The U.S. Dollar Index Spot was up 0.15% to 107.737 level during the publication of this article. 
The average price target among 34 analysts <a href="https://www.benzinga.com/quote/UBER/analyst-ratings">tracked by Benzinga</a> is $91.81 with a ‘buy' rating. The estimates range from $77 to $120 apiece. Recent ratings from Needham, UBS, and Cantor Fitzgerald suggest a $92.33 target, implying a potential upside of 41.99%.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/UBER/analyst-ratings"><img loading="lazy" decoding="async" width="1024" height="384" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/06014408/UBER-ANR-1024x384.png" alt="" class="wp-image-768529" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/06014408/UBER-ANR-1024x384.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/06014408/UBER-ANR-300x112.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/06014408/UBER-ANR-768x288.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/06014408/UBER-ANR.png 1060w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Read Next:
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<li><a href="https://www.benzinga.com/general/market-summary/25/02/43491799/meta-ai-models-clearly-behind-deepseek-says-analysts-after-mark-zuckerberg-admitted-deepseek-did-some-novel-things-were-still-digesting">Meta AI Models &#8216;Clearly Behind&#8217; DeepSeek, Says Analyst After Mark Zuckerberg Admits DeepSeek Did Some Novel Things &#8216;We&#8217;re Still Digesting&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

Equities

UBER

Uber's Strong Q4 Offset By $1.1 Billion Forex Headwind, Currency Devaluation: Ongoing Tariff Wars Drive Weak Q1 Outlook

Macro Economic Events

Econ #s

Economics

Germany Factory Orders (MoM) For December 6.9% Vs. 1.9% Est.; -5.4% Prior

EV giant Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) will reportedly start production at its Shanghai megafactory on Feb. 11, less than a year after starting construction.
What Happened: According to a report from local media outlet Shanghai Securities News, the megafactory in Shanghai, Tesla&#8217;s second globally, will start production on Feb. 11 and ramp up capacity in the first quarter. 
Tesla did not immediately respond to Benzinga&#8217;s request for confirmation on the report. 
The <a href="https://www.benzinga.com/24/12/42680075/tesla-exec-says-we-will-be-ready-to-efficiently-produce-autonomous-vehicles-as-shanghai-megafactory-nears-completion">Shanghai megafactory</a> is the company's first factory dedicated to the production of energy storage products outside the U.S. Currently, Tesla has only one other factory dedicated to manufacturing megapacks, located in Lathrop, California. The Lathrop facility has the capability of producing 40 GWh of energy storage products.
Tesla officially began the construction of the Shanghai megafactory in May, taking only seven months from the start of construction to starting <a href="https://www.benzinga.com/news/global/24/12/42737037/tesla-shanghai-megafactory-starts-trial-production-seven-months-after-breaking-ground">trial production</a> in December.
Megapack is a powerful battery manufactured by the company in addition to its home battery called Powerwall.&nbsp;Each megapack unit can store over 3.9 Megawatt-hours of energy or enough to power an average of 3,600 homes for an hour.
Why It Matters: Tesla reported revenue of over $3 billion from its energy generation and storage segment in the fourth quarter or more than double the $1.44 billion reported in the corresponding quarter of 2023, upon deploying a record&nbsp;<a href="https://www.benzinga.com/25/01/42780335/teslas-evergy-storage-deployements-rise-in-q4-even-as-vehicle-deliveries-disappoint" target="_blank" rel="noreferrer noopener">11.0 GWh of energy storage products</a>.
Revenue from the energy segment accounted for about 12% of the company's total revenue in the quarter, while the automotive segment accounted for 77%. The company reported quarterly&nbsp;<a href="https://www.benzinga.com/news/earnings/25/01/43321103/tesla-q4-earnings-highlights-revenue-miss-eps-miss-ev-updates-automaker-says-2025-will-be-a-seminal-year" target="_blank" rel="noreferrer noopener">total revenue</a>&nbsp;of $25.71 billion, missing a street consensus estimate of $27.26 billion.
Tesla continues to be&nbsp;<a href="https://www.benzinga.com/news/24/10/41537560/teslas-energy-segment-boom-in-q3-sparks-leadership-changes-veteran-mike-snyder-promoted-as-vp" target="_blank" rel="noreferrer noopener">hopeful for its energy segment</a>&nbsp;for it said late last month that it expects energy storage deployment to grow at least 50% year-over-year in 2025. Both the powerwall and megapack continue to be supply-constrained as it opens to new markets, the company added. 
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/25/02/43487852/tesla-launches-limited-time-8000-yuan-car-insurance-subsidy-for-model-3-in-china-researcher-expects-it-to-have-limited-impact-on-ev-makers-delivery-hardships-in-q1">Tesla Launches Limited-Time Car Insurance Subsidy for Model 3 In China, Researcher Expects It To Have &#8216;Limited Impact&#8217; On EV Maker&#8217;s Delivery Hardships In Q1</a></li>
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Photo courtesy: Shutterstock

TSLA

Tesla's First Megafactory Outside US To Start Production On Feb 11: Report

Under the contract, Helix plans to utilize the Grand Canyon III trenching support vessel mobilized with the T1500 jet trencher, the i-Trencher trenching system, a work-class remotely operated vehicle and associated survey services. The project scope includes the burial of all 192 inter-array cables, totalling approximately 500 km in length. The project will be managed with engineering and survey support from Helix's offices in Aberdeen, UK.

Reported Earlier, Helix Robotics Secures Major Trenching Contract For Ørsted's Hornsea 3 Offshore Wind Farm

Patterson-UTI Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTEN#NASDAQ">PTEN</a>) reported quarterly losses of $(0.13) per share which missed the analyst consensus estimate of $(0.08) by 62.5 percent. This is a 186.67 percent decrease over earnings of $0.15 per share from the same period last year. The company reported quarterly sales of $1.162 billion which missed the analyst consensus estimate of $1.246 billion by 6.72 percent. This is a 26.64 percent decrease over sales of $1.584 billion the same period last year.

Earnings Misses

PTEN

Patterson-UTI Energy Q4 2024 GAAP EPS $(0.13) Misses $(0.08) Estimate, Sales $1.162B Miss $1.246B Estimate

Noted short seller Jim Chanos raised the alarm about potential unpredictable risks and excessive speculation in the U.S. markets, citing the recent DeepSeek debacle that wiped out nearly $1 trillion in market value.
What Happened: In a conversation with <a href="https://www.bloomberg.com/news/videos/2025-02-05/full-digital-jim-chanos-president-founder-chanos-company">Bloomberg TV</a> on Wednesday, Chanos highlighted that the most significant threats to the U.S. markets in the next six to twelve months would be unforeseen events akin to the DeepSeek incident. &#8220;The real risks will be something like DeepSeek that comes out of left field that changes people's thinking,&#8221; Chanos said. &#8220;By definition, we do not know what that is.&#8221;
Chanos also voiced his worries about excessive speculation in the stock market. However, he pointed out that it has not yet reached the heights of the 2021 boom when the S&amp;P 500 soared by 27%. He stressed the need for investors to differentiate between companies that justify their high valuations and those that do not.
Furthermore, Chanos expressed concerns about the market&#8217;s reaction to political drama, particularly President Donald Trump&#8217;s proposed tariffs. He argued that a 10% levy against China would not generate significant revenues and suggested that tariffs would need to be significantly increased on both China and the EU.
SEE ALSO: <a href="https://www.benzinga.com/startups/25/02/43476917/deepseek-a-trojan-horse-kevin-oleary-calls-bs-on-deepseeks-6m-budget-claims-they-ripped-off-60k-nvidia-chips-from-the-black-market">DeepSeek A Trojan Horse? Kevin O&#8217;Leary Calls BS On DeepSeek&#8217;s $6M Budget, Claims They Ripped Off 60k Nvidia Chips From The Black Market</a>
Why It Matters: The DeepSeek incident Chanos referred to has been a hot topic in the AI industry. The Chinese AI startup, DeepSeek, developed an open-source language model, R1, for under $6 million, which outperformed established competitors in several tests, challenging the <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43382103/experts-say-deepseek-proves-high-performance-ai-possible-without-silicon-valleys-spending">big-spending approach</a> prevalent in Silicon Valley.
However, DeepSeek came under scrutiny when U.S. officials began investigating whether it acquired advanced Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) chips through backdoor channels, potentially bypassing U.S. sanctions.
Furthermore, <a href="https://www.benzinga.com/general/market-summary/25/02/43491799/meta-ai-models-clearly-behind-deepseek-says-analysts-after-mark-zuckerberg-admitted-deepseek-did-some-novel-things-were-still-digesting">a research note </a>from Piper Sandler suggested that while DeepSeek is ahead of Meta Platforms Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) latest Llama model, it still lags behind leading AI labs like OpenAI and Anthropic by about six months.
Meanwhile, Don Townswick, director of equity strategies at Conning Asset Management warned that the impact of DeepSeek could shake the U.S. markets once again. Speaking to MarketWatch, he stated, "If DeepSeek's technology turns out to be less reliable than currently believed, the ‘Magnificent Seven' stocks would likely benefit.&#8221; On the whole, Townswick sees broader corporate gains in the long run if more companies integrate cheaper AI solutions if DeepSeek succeeds in offering a lower-cost AI alternative.
These developments have triggered a mix of optimism about democratized AI and fears of an AI stock bubble bursting, sending ripples throughout financial markets.
<ul>
<li>READ MORE: <a href="https://www.benzinga.com/tech/25/02/43487668/amd-ceo-lisa-su-on-deepseeks-ai-disruption-training-and-inference-with-less-infrastructure-is-a-good-thingbut-gpus-not-asics-will-still-power-the-future-of-ai-chips">AMD CEO Lisa Su On DeepSeek&#8217;s AI Disruption: &#8216;Training And Inference With Less Infrastructure Is A Good Thing&#8217; — But GPUs, Not ASICs, Will Still Power The Future Of AI Chips</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Short Sellers

Short Seller Jim Chanos Flags DeepSeek-Like Risk As Biggest Threat To Markets In Next 6 Months: '…Comes Out Of Left Field That Changes People's Thinking'

The company is delaying the release of its financial results to allow additional time to complete year-end audit procedures specifically related to inventory cycle counts, including physical inventory procedures. The company expects to file its Form 10-K for the year ended December 31, 2024 on or before March 3, 2025.

Reported Earlier, MRC Global Reschedules Q4 And FY 2024 Earnings Release, New Date To Be Announced

Reported Earlier, Ecopetrol Completes $452M Acquisition Of Repsol's 45% Stake In Block CPO-09, Securing Full Ownership

Second quarter revenues are expected to be approximately $105 million, with gross profit of $45 million and adjusted EBITDA of $15 million. These results reflect challenging conditions in Argentina, which remains a decisive market for the financial performance of the company in the first half of the year. Farmer purchasing behavior in the country changed significantly compared to the prior year, driven by macroeconomic conditions and unfavorable weather. This, together with high channel inventories, led to lower crop protection and micro-beaded fertilizer sales.

BIOX

Reported Earlier, Bioceres Crop Solutions Provides Q2 Outlook: Expects Revenue Of $105M, Gross Profit Of $45M, And Adj. EBITDA Of $15M

The gross proceeds from the Offering are expected to be approximately $5 million, before deducting placement agent fees and other estimated offering expenses. The Company intends to use the net proceeds from the Offering for advancement of our clinical programs and working capital and other general corporate purposes.
A.G.P./Alliance Global Partners is acting as sole placement agent for the Offering. Jones is acting as financial advisor for the Offering.

CERO

Reported Earlier, CERo Therapeutics Prices $5M At-The-Market Public Offering At $1.96/Share

DeepSeek founder Liang Wenfeng said China has prioritized short-term profits over innovation for decades—but now, the country must shift gears and build a strong AI ecosystem similar to what helped Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) dominate the <a href="https://in.benzinga.com/government/regulations/25/01/43401844/taiwan-bans-deepseek-ai-over-security-concerns-joins-global-scrutiny-of-chinese-tech">global semiconductor market</a>.
What Happened: In an interview with Chinese tech news outlet 36Kr and <a href="https://asia.nikkei.com/Business/36Kr-KrASIA/DeepSeek-founder-says-China-AI-will-stop-following-U.S">translated</a> by Nikkei Asia, Liang reflected on why DeepSeek's AI advancements have stunned Silicon Valley.
&#8220;Chinese companies had only followed them [the U.S.] up until that point, but this time we entered the field as an innovator,&#8221; Liang stated.
However, he argued that China's AI industry lacks the support structure needed to sustain innovation and that relying on Western breakthroughs is no longer an option.
See Also:&nbsp;<a href="https://www.benzinga.com/news/legal/25/01/43325503/mark-zuckerbergs-meta-pays-trump-25-million-to-settle-lawsuit-over-facebook-instagram-ban-after-jan-6-riot-a-big-year-for-redefining-our-relationships-with-governments" target="_blank" rel="noreferrer noopener">Mark Zuckerberg's Meta Pays Trump $25 Million To Settle Lawsuit Over Facebook, Instagram Ban After Jan. 6 Riot: ‘A Big Year For Redefining Our Relationships With Governments'</a>
&#8220;China should stop relying on others&#8217; achievements and, in line with its economic growth, gradually switch its role to becoming a contributor to innovations,&#8221; Liang said.
He compared China's AI struggles to its semiconductor industry, which has lagged due to a lack of technology communities and industry backing.
&#8220;U.S. semiconductor giant Nvidia managed to establish its current position not simply through the efforts of a single company but through the efforts of Western technology communities and industries,&#8221; he explained.
&#8220;The Chinese AI industry needs to create such an ecosystem,&#8221; Liang added.
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: China&#8217;s DeepSeek has made waves with its low-cost AI assistant app. The company said it spent just $5.6 million on <a href="https://in.benzinga.com/markets/cryptocurrency/25/01/43382103/experts-say-deepseek-proves-high-performance-ai-possible-without-silicon-valleys-spending">semiconductor chips</a>. This is roughly one-tenth of what giants like OpenAI and Meta Platforms have invested in chips for their AI applications.
When the market saw that AI performance could remain strong with fewer, slower chips, it impacted suppliers of high-end chips.
On Jan. 27, Nvidia shares fell 17%. However, since then, chip stocks and AI-focused companies have seen a rebound.
During earnings calls, Mark Zuckerberg and Satya Nadella praised DeepSeek, while Sundar Pichai said that Google's Gemini <a href="https://www.benzinga.com/25/02/43487551/sundar-pichai-acknowledges-deepseeks-ai-advancementsbut-says-googles-gemini-still-leads-in-cost-performance-and-latency">remains superior</a>. Palantir, however, warned clients against using DeepSeek.
Photo Courtesy: mundissima on Shutterstock.com
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Media

DeepSeek Founder Liang Wenfeng Says China Put Profits Over Innovation — But Now Beijing Must Build A Tech Ecosystem To Rival Nvidia

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