Latest news for Element79 Gold (OTC:ELMGF) Stock

Element79 Gold Corp is a North American-based mineral exploration stage company engaged in the acquisition, exploration and development of mineral properties.

ELEMENT79 GOLD CORP by Element79 Gold Corp.

Element79 Gold Corp

The <a href="https://www.benzinga.com/markets/cannabis/24/07/39892433/dea-rescheduling-of-cannabis-could-create-over-50-000-jobs-industry-group-notes-in-public-commen">rescheduling</a> of cannabis from a Schedule I to a Schedule III substance is on the horizon. Whether it happens before or after the upcoming election doesn&#8217;t not worry Tilray&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) CEO Irwin Simon. He says he&#8217;s confident about the future of the company regardless.
&#8220;We did not sit back and wait&#8221;, he said in an <a href="https://finance.yahoo.com/video/us-gain-rescheduling-marijuana-tilray-172952922.html?utm_source=www.cultivated.news&amp;utm_medium=newsletter&amp;utm_campaign=florida-goes-to-the-cannabis-polls">interview</a> with the show Wealth! in Yahoo Finance where he went though the company&#8217;s latest <a href="https://www.benzinga.com/markets/cannabis/24/07/40023244/tilray-q4-earnings-revenue-eps-beat-as-cannabis-beverages-wellness-converge-on-a-global-scale-dr">earnings report</a>.
<h3 class="wp-block-heading">Economic Trends</h3>
&#8220;We now have a strong beer business, a spirits business&#8221;, referring to the beverages strategy that helped the company build a <a href="https://www.benzinga.com/markets/cannabis/23/10/35031971/tilray-completes-acquisition-of-8-beer-brands-from-bud-light-parent-anheuser-busch">craft beer</a> division that has already <a href="https://www.benzinga.com/markets/cannabis/24/07/40023244/tilray-q4-earnings-revenue-eps-beat-as-cannabis-beverages-wellness-converge-on-a-global-scale-dr">landed</a> interesting economic results. Tilray has also recently won a <a href="https://www.benzinga.com/markets/cannabis/24/06/39208562/tilray-ramps-up-its-cannabis-portfolio-in-canada-wins-international-spirits-competition">spirits</a> competition, which is helping pave the compan&#8217;s way into the promising <a href="https://www.benzinga.com/top-stories/24/07/39666610/from-bars-to-homes-cannabis-beverages-redefine-drinking-culture">cannabis beverages </a>sector.
Irwin also stressed the Hemp business, the medical cannabis in Canada and the growth in that segment with Germany&#8217;s recent partial legalization.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/06/39208562/tilray-ramps-up-its-cannabis-portfolio-in-canada-wins-international-spirits-competition">Tilray Ramps Up Its Cannabis Portfolio In Canada, Wins International Spirits Competition</a>
<h3 class="wp-block-heading">Tilray CEO On Gen Z And Cannabis</h3>
While Simon remains cautious about the immediate prospects of <a href="https://www.benzinga.com/markets/cannabis/24/07/39892433/dea-rescheduling-of-cannabis-could-create-over-50-000-jobs-industry-group-notes-in-public-commen">rescheduling</a>, he maintains a pragmatic outlook. &#8220;I&#8217;m not sure, but I guess I&#8217;m not optimistic either,&#8221; he noted regarding the rescheduling timeline. However, he remains confident that change is inevitable. &#8220;Something&#8217;s got to happen.&#8221;
&#8220;Cannabis from a recreational standpoint is legal in 27 states. It&#8217;s legal in 35 states [for] medical cannabis [use]. So for over half the population, cannabis is legal today, but it&#8217;s not legal from a federal standpoint,&#8221; Simon explained. Highlighting the growing acceptance of cannabis, he added, &#8220;Gen Z and millennials are consuming more cannabis each day now than alcohol.&#8221;
Rescheduling cannabis at the federal level would not only align U.S. policy with the growing acceptance of cannabis but also unlock significant economic potencial. The reclassification could lead to better regulation, safer consumption, and a substantial increase in tax revenue, mirroring the Canadian <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37924655/canadian-cannabis-companies-could-see-valuations-soar-by-up-to-300-with-tax-reform-">experience</a>.
<ul>
<li>Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37924655/canadian-cannabis-companies-could-see-valuations-soar-by-up-to-300-with-tax-reform-">Canadian Cannabis Companies Could See Valuations Soar By Up To 300% With Tax Reform, New Report Show</a><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37924655/canadian-cannabis-companies-could-see-valuations-soar-by-up-to-300-with-tax-reform-">s</a></li>
</ul>
Learn all about the future of the cannabis industry at the Benzinga Cannabis Capital Conference this October in Chicago. Hear directly from key industry players and policymakers. Get your tickets now by following&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">this link</a>.
Photo: Benzinga edit with images by&nbsp;<a href="https://unsplash.com/@fortheloveofsmoke?utm_content=creditCopyText&amp;utm_medium=referral&amp;utm_source=unsplash" target="_blank" rel="noreferrer noopener">Jeff W</a>&nbsp;on&nbsp;<a href="https://unsplash.com/photos/green-leaves-in-close-up-photography-r19PtSh4m7A?utm_content=creditCopyText&amp;utm_medium=referral&amp;utm_source=unsplash" target="_blank" rel="noreferrer noopener">Unsplash</a>&nbsp;and image from Linkedin&nbsp;<a href="https://benzinga.com/apis" target="_blank" rel="noreferrer noopener"></a>

Cannabis

News

Markets

TLRY

Tilray CEO On Future Of Cannabis And Federal Rescheduling: 'We Did Not Sit Back And Wait'

B of A Securities analyst Geoff Meacham maintains Merck &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) with a Buy and lowers the price target from $150 to $145.

Price Target

Analyst Ratings

B of A Securities Maintains Buy on Merck & Co, Lowers Price Target to $145

Tech stocks soared to their best session in five months on Wednesday, ahead of the highly anticipated Federal Open Market Committee (FOMC) meeting. This broad tech rally was propelled by a sharp rebound in chipmakers, buoyed by robust corporate earnings and easing concerns over chip<a href="https://www.benzinga.com/markets/equities/24/07/40075799/semiconductor-stocks-set-for-strongest-day-in-5-months-as-chip-export-concerns-subside-top-wedne"> export restrictions to China.</a>
The Federal Reserve is expected to maintain interest rates at 5.25-5.50%, but market attention is fixed on Fed Chair Jerome Powell's press conference at 2:30 p.m. ET, for any hints of a potential rate cut in September, which market participants have fully priced in.
The Nasdaq 100 surged 2.7%, with 87 of its constituents in positive territory, led by Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), which jumped 11%. The tech-heavy index hasn&#8217;t experienced such a rally since February 2024.
The Biden administration is planning to introduce new regulations next month to restrict the export of semiconductor manufacturing equipment to Chinese chipmakers, with key allies like Japan, the Netherlands, and South Korea being exempt, according to Reuters. 
The iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) soared over 5%, also marking its strongest session since late February 2024.
The S&amp;P 500 also posted solid gains, rising 1.6%. Small caps, tracked by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), increased by 1.1%, eyeing their highest close since January 2022. Blue chips climbed 0.7%.
The dollar eased 0.2%, weighed down by a disappointing July private employment report released earlier by the ADP. The Japanese yen, tracked by the Invesco CurrencyShares Japanese Yen Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXE#NYSE">FXE</a>), rallied 1.4% following an overnight rate hike by the Bank of Japan.
In commodities, gold rose 0.7%, surpassing $2,400 per ounce, and silver climbed 1.4%. Oil prices surged 3% amid escalating geopolitical tensions in the Middle East following the assassination of Hamas chief Ismail Haniyeh by Israeli forces in Iran.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) edged up 0.3%.
<h3 class="wp-block-heading">Wednesday&#8217;s Movers In US Major Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,306.28</td>
<td>2.7%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,523.20</td>
<td>1.6%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,267.02</td>
<td>1.1 %</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,030.77</td>
<td>0.7%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:55 p.m. ET</figcaption></figure>
According to <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent073124&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 1.6% higher to $550.40.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.7% to $410.22.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 2.6% to $469.60.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 1.1% to $224.09.</li>
<li>Sector-wise, the Technology Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)&nbsp;outperformed, rallying 3.4%, while the&nbsp;Health Care Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) lagged, up 0.1%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
Stocks moving on earnings were:
<ul>
<li>Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), up 4%.</li>
<li>Altria Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MO#NYSE">MO</a>), down 3.8%,</li>
<li>Arista Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>) up over 9%,</li>
<li>AutoNation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>) up 8.2%,</li>
<li>Barrick Gold Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) up 1.5%,</li>
<li>Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>) up 0.4%,</li>
<li>Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>), up 5.1%,</li>
<li>Caesars Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>) up over 12%,</li>
<li>DoubleVerify Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DV#NYSE">DV</a>) down about 1%,</li>
<li>DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>) up 5.3%, </li>
<li>First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) up 1.8%,</li>
<li>Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>) down 4.5%,</li>
<li>Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) down 4.6%, </li>
<li>GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>) down 2.3%,</li>
<li>Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>) down 8.8%,</li>
<li>KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) up 3.5%, </li>
<li>Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) up 4.3%,</li>
<li>Marriott International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>) up 2.1%, </li>
<li>Match Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>) down 1%, </li>
<li>Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) (down over 2.50%)</li>
<li>Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) down 1.8%</li>
<li>Oshkosh Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OSK#NYSE">OSK</a>) down 2.8%,</li>
<li>Penumbra, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEN#NYSE">PEN</a>) down 3.1%,</li>
<li>Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>) down over 12%</li>
<li>Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) up over 4%, </li>
<li>Teva Pharmaceutical Industries Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>) up over 8%,</li>
<li>T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) up 2.5%,</li>
<li>Wingstop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>) down 1.5%.</li>
</ul>
Stocks reporting after the close include: 
<ul>
<li>Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>)</li>
<li>American International Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>)</li>
<li>Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>)</li>
<li>C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>)</li>
<li>Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>)</li>
<li>eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>)</li>
<li>Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>)</li>
<li>Host Hotels &amp; Resorts, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HST#NASDAQ">HST</a>)</li>
<li>Lam Research Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>)</li>
<li>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</li>
<li>MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>)</li>
<li>NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>)</li>
<li>QUALCOMM Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>)</li>
<li>Teladoc Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>)</li>
<li>Western Union Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WU#NYSE">WU</a>).</li>
</ul>
Read now: 
<ul>
<li><a href="https://www.benzinga.com/federal-reserve/24/07/40071662/fed-shouldnt-wait-until-september-poll-finds-nearly-half-want-rate-cuts-today">Fed Shouldn&#8217;t Wait Until September: Poll Finds Nearly Half Want Rate Cuts Today</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

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

Cryptocurrency

Earnings

Equities

Large Cap

Macro Economic Events

Mid Cap

Sector ETFs

Broad U.S. Equity ETFs

Commodities

Small Cap

Econ #s

Economics

Federal Reserve

Tech

ETFs

$BTC

ANET

BLCO

CHRW

CVNA

SPDR Dow Jones Industrial Average ETF Trust

EBAY

ETSY

FRSH

FSLR

GOLD

GRMN

LRCX

MSFT

MTCH

NCLH

NTGR

NVDA

PINS

QCOM

SBUX

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

TDOC

TEVA

TMUS

WING

Tech Stocks On Track For Best Session In 5 Months Ahead Of Fed Meeting; Small Caps Target Highest Close Since January 2022: What's Driving Markets Wednesday?

Macro Notification

General

iShares MSCI Israel Capped Investable Market Index Fund

Netanyahu Says Israel Has Delivered 'Crushing Blows' To Iranian Proxies; Vows Heavy Price For Any Aggression; States Israel Is Prepared For All Scenarios And Faces Challenging Days Ahead

B of A Securities analyst Vivek Arya maintains Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) with a Buy and lowers the price target from $195 to $180.

B of A Securities Maintains Buy on Advanced Micro Devices, Lowers Price Target to $180

Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) shares are trading higher today. The chip giant reportedly won the London leg of a global patent dispute with U.S. competitor R2 Semiconductor on Wednesday.
The London High Court ruled in favor of Intel, rejecting R2 Semiconductor&#8217;s claims that sought an injunction to halt the sale of some of Intel&#8217;s chips, reported Reuters.
The case, filed in 2022, centered around allegations that Intel&#8217;s chips and processors, which feature fully integrated voltage regulators, infringed on R2&#8217;s patent, the report noted.
Judge Richard Hacon, in his written ruling following the April trial, declared R2&#8217;s patent invalid due to the absence of an &#8220;inventive step&#8221; when considering previous inventions.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/40073980/intel-plans-job-cuts-to-fund-turnaround-efforts-bloomberg" rel="noreferrer noopener">Intel Plans Job Cuts To Fund Turnaround Efforts: Report</a>
The judge noted that if the patent had been valid, Intel would have indeed infringed upon it. R2&#8217;s legal team argued that Intel&#8217;s entire current product line of microchips, processors, and other microelectronic devices incorporating a fully integrated voltage regulator had violated its patent.
They sought an injunction to prevent further infringement, which could have affected the sale of Intel&#8217;s &#8220;Ice Lake&#8221; server chips.
The London ruling contrasts with a February decision by a German court that favored R2 Semiconductor. Similar litigations between Intel and R2 are ongoing in France and Italy.
The semiconductor sector has experienced heightened volatility recently.&nbsp;President Biden is contemplating additional measures against China, which is <a target="_blank" href="https://www.benzinga.com/news/24/07/39989053/whats-going-on-with-intel-stock" rel="noreferrer noopener">causing uncertainty in the market</a>.
Intel stock has lost more than 14% in the last 12 months. Investors can gain access to the stock via First Trust Nasdaq Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXL#NASDAQ">FTXL</a>) and Strive&nbsp;U.S.&nbsp;Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOC#NYSE">SHOC</a>).
Price Action: INTC shares are trading higher by 2.12% at $30.77 at last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com//node/40069119" target="_blank" rel="noreferrer noopener">Can AMD Stock Hit $180? AI Growth Fuels Data Center Dominance Over Intel</a></li>
</ul>

Legal

Media

FTXL

INTC

EA Series Trust Strive U.S. Semiconductor ETF

SHOC

Intel Wins London Leg Of Patent Dispute With R2: Report

B of A Securities analyst Vivek Arya maintains Skyworks Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>) with a Underperform and raises the price target from $95 to $110.

SWKS

B of A Securities Maintains Underperform on Skyworks Solutions, Raises Price Target to $110

- Comments Made To Franchisees In Memo Viewed By Bloomberg

McDonald's Capturing Diners From Rivals With $5 Meal Deal, Meeting Goals Set Out

Electronic Arts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>) CEO Andrew Wilson remains confident that the video game company will feel minimal <a href="https://www.benzinga.com/general/gaming/24/07/40023915/sag-aftra-strike-hits-video-game-industry-but-gta-6-remains-unaffected">short-term impact</a> from the recent SAG-AFTRA strike.
What Happened: <a href="https://www.ign.com/articles/ea-ceo-says-video-game-actor-strikes-wont-have-short-term-impact-on-the-company">According</a> to IGN, during EA&#8217;s recent earnings call, Wilson addressed investor concerns regarding the strike's potential effects.
"We deeply value our talented actors who are an important part of the work we do to deliver the incredible entertainment experiences that our players enjoy around the world. We&#8217;re working very closely; this is not an EA-specific situation, this is an industry-specific situation, and we&#8217;re working diligently to negotiate at the table,&#8221; Wilson stated.
See Also: <a href="https://www.benzinga.com/news/earnings/24/07/40051832/electronic-arts-q1-earnings-highlights-college-football-madden-soccer-video-games-building-momentum">Electronic Arts Q1 Earnings Highlights: College Football, Madden, Soccer Video Games &#8216;Building Momentum For FY25 And Beyond&#8217;</a>
&#8220;The way it works now in terms of our product specifically is that the strike is limited to games commencing production after September 2023, including live service games. So we don&#8217;t expect any near-term disruption to any of the games we have in development or any of the live services we&#8217;re currently running,&#8221; the CEO added. &#8220;That being said, we&#8217;re committed to continuing to bargain in good faith and are hopeful that the parties can expediently resolve our issues at the bargaining table. But we&#8217;re not anticipating any significant short-term impact at EA."
Why It Matters: Actors wish to secure better protections against gaming companies&#8217; usage of artificial intelligence (AI).
And EA has a robust portfolio of live service games. The company's $1.26 billion in net bookings for the quarter are fueled by titles like Madden NFL 24, FC Mobile, and FC Online.
Upcoming releases such as Madden NFL 25, EA Sports FC 25, and NHL 25, alongside The Sims 4 and College Football 25, are unaffected, according to the company.
EA's sole single-player offering, Dragon Age: The Veilguard, remains on track. The company's focus on long-term development cycles means many of its games slated for future release were greenlit well before the September 2023 cutoff, insulating them from immediate disruption.
Yet, Wilson's remarks don't address the potential long-term implications of the strike. If the walkout persists, projects initiated post-September 2023 could face delays, potentially disrupting EA's plans for 2026 and beyond. The absence of SAG-AFTRA voice actors could slow down development on future titles, creating a ripple effect that might become evident in the coming years.
SAG-AFTRA initiated the video game actor strike on July 26, following eighteen months of unsuccessful negotiations primarily centered around AI protections. 
Read Next: <a href="https://www.benzinga.com/general/gaming/24/07/40035765/sag-aftra-calls-video-game-strike-over-ai-concerns">SAG-AFTRA Calls Video Game Strike Over AI Concerns</a>
Image credits: Sergei Elagin on Shutterstock.

Gaming

EA CEO On SAG-AFTRA Strike: 'We Don't Expect Any Near-Term Disruption'

Benchmark analyst Michael Legg reiterates SKYX Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYX#NASDAQ">SKYX</a>) with a Buy and maintains $5 price target.

Reiteration

SKYX

Benchmark Reiterates Buy on SKYX Platforms, Maintains $5 Price Target

B of A Securities analyst Gary Bisbee maintains Gartner (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IT#NYSE">IT</a>) with a Buy and raises the price target from $525 to $580.

B of A Securities Maintains Buy on Gartner, Raises Price Target to $580

Prominent Chinese electric vehicle manufacturer BYD Company (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) is planning to penetrate the Canadian automotive market, according to a regulatory filing submitted earlier in July, Reuters writes.
This move is amidst discussions by Canadian authorities about potentially imposing tariffs on Chinese-imported vehicles.
Canada is contemplating following the United States and the <a target="_blank" href="https://www.benzinga.com/news/24/07/39635158/eu-imposes-provisional-duties-of-as-much-as-37-6-on-chinese-ev-imports" rel="noreferrer noopener">European Union in levying tariffs on Chinese electric vehicles</a>.
This strategy aims to counter what the West perceives as China&#8217;s excessive subsidies to its EV industry.
In June, Canadian officials announced a month-long public consultation period, starting July 2, to evaluate the country&#8217;s response., reported Reuters.
The Ottawa public consultation event highlighted &#8220;China&#8217;s unfair support for the EV sector, if left unchecked, could lead to an exponential surge of imports that will adversely affect planned EV investments and the transformation of Canada&#8217;s automotive sector.&#8221;
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/39933356/byd-poised-to-surpass-tesla-in-ev-sales-as-us-and-europe-demand-wanes" rel="noreferrer noopener">BYD Poised To Surpass Tesla In EV Sales As US And Europe Demand Wanes</a>
BYD Canada representatives&#8217; meetings with government officials have not been precisely dated in the document.
Although the filing did not outline a specific timeline for BYD&#8217;s Canadian market plans, it did address the potential tariffs on EVs and the company&#8217;s intentions to introduce passenger electric vehicles in Canada.
In May, BYD launched the Shark, a mid-size hybrid-electric pickup truck, in Mexico. Despite the new U.S. tariffs on Chinese EVs, BYD&#8217;s regional chief emphasized that the company is not targeting the U.S. market.
BYD shipped nearly 1 million electric and hybrid cars in the second quarter, <a target="_blank" href="https://www.benzinga.com/news/24/07/39592293/tesla-rival-byds-ev-sales-jump-21-in-q2-details" rel="noreferrer noopener">driven by aggressive discounts in China</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39966645/byd-to-supply-120-electric-buses-to-south-africas-golden-arrow" target="_blank" rel="noreferrer noopener">BYD To Supply 120 Electric Buses To South Africa&#8217;s Golden Arrow</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Emerging Markets

BYDDY

Tesla Rival BYD Eyes Canadian Market In Wake Of Tariff Considerations

B of A Securities analyst Omar Dessouky maintains Electronic Arts (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>) with a Buy and raises the price target from $150 to $170.

B of A Securities Maintains Buy on Electronic Arts, Raises Price Target to $170

Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) generated headlines in the pre-market hours as the company revealed its much-awaited second-quarter earnings report. Ahead of the disclosure, SPOT stock suffered from a<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39892706/can-spotify-q2-earnings-tune-out-bearish-signals-for-a-bullish-upside"> strongly bearish trend</a> despite an implied robust upside based on analysts' price targets. Therefore, the Q2 print represented an opportunity for the audio streaming service to respond.
The results were exactly what the company needed. Spotify generated earnings of 274 million euros or about $298 million. The bottom-line print was equivalent to 1.33 euros per share, beating the analysts' consensus view of 1.05 euros per share. On the top line, sales hit 3.8 billion euros, which was in line with expectations.
Among the key highlights was growth in monthly active users (MAUs) reaching 14% to 626 million users. While this rally slightly missed the guidance of 631 million, it should be noted that premium subscribers saw a year-over-year increase of 12% to 246 million. This performance beat the consensus estimate by 1 million. Also, advertisement-supported revenue saw a lift of 13% to 456 million euros. The business expansion stemmed from music streaming and podcasts.
On Monday, SPOT stock finished the session at $295.45, up slightly from Friday's close. However, during Tuesday's pre-market session, Spotify shares reached $336, representing growth of nearly 14%.
The MUSQ ETF: While Spotify constitutes a major component of the wider audio-content industry, it's not the only player in town. Several other entities – including YouTube Music under Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), which will<a href="https://www.benzinga.com/news/earnings/24/07/39898676/tesla-alphabet-and-3-stocks-to-watch-heading-into-tuesday"> soon release its quarterly report</a> – offer viable exposure. However, it's difficult for retail investors to acquire multiple securities in the ecosystem, which is where the MUSQ Global Music Industry ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUSQ#NYSE">MUSQ</a>) comes into play.
As Benzinga noted earlier this year, the<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/03/37878863/thematic-music-etf-musq-prepares-to-strike-a-chord-as-indicators-point-to-upbeat-momentu"> thematic exchange-traded fund</a> "provides <a href="https://musqetf.com/about">concentrated exposure to the complete music ecosystem</a>, covering streaming, content and distribution, live music events and ticketing, satellite and broadcast radio, equipment and technology, and artificial intelligence. The fund holds multiple stocks that encompass the variety of companies and technologies the music industry is dependent upon."
Currently, the only broad-based pure-play ETF covering the global music industry, the key advantage of the <a href="https://www.musqetf.com/">MUSQ fund</a> is diversification. While Spotify is one of the top holdings of the ETF, it's not the only position. Indeed, SPOT stock represents 3.88% of MUSQ's net assets. Alphabet stock comprises a higher portion of the holdings at 5.8%.
Additionally, MUSQ brings other core components of the music industry to investors in a convenient package, including the content realm – via names like Tencent Music Entertainment Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TME#NYSE">TME</a>) – and in-person performance, particularly through Live Nation Entertainment Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>).
Therefore, no one entity can determine the entire trajectory of MUSQ, affording investors the benefit of market risk distribution.
The MUSQ Chart: On Monday, the MUSQ ETF finished the session at $24.52, gaining nearly 1% against Friday's close. The fund appears to have hit a near-term bottom on June 24, steadily gaining sentiment since that session.
<ul>
<li>Given Tuesday's blistering pre-market performance of SPOT stock, it's possible that MUSQ may see a noticeable bump higher.</li>
<li>While the ETF has been trading lower between the end of December to the June 24 trough, the fund's trajectory appears to be rounding out.</li>
<li>A U-shaped recovery could be in play, especially given Spotify's strong quarterly results.</li>
<li>Encouragingly, MUSQ trades above both its 50-day and 200-day moving averages, which serve as common barometers of market health.</li>
</ul>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfsuhvqqjinm4DWGHrzrk-06r6-r6qYWFhDp-C8C8L1aavF7A2OLJfr33vsVBvxu8UhYlWnsKuWXC6E6SvH-KaqjkPY24kWkZ6V-AJO9tnR2bfW7RkVgR6fEn6TzZ7XiNcfE7ECzLg-zrQja7Ko0YKyXxw?key=aGmwvuj7X1vmuZQYKwcscg" alt="" /></figure>
Featured photo by <a href="https://pixabay.com/users/javierdumont-14443229/?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=4722544">javier dumont</a> from <a href="https://pixabay.com//?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=4722544">Pixabay</a>.

Long Ideas

Short Ideas

Technicals

Trading Ideas

GOOG

MUSQ

SPOT

Tune Into Potential Profits With The Sector Pure-Play MUSQ Global Music Industry ETF (MUSQ)

Benchmark analyst Christopher Kuhn reiterates Landstar System (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSTR#NASDAQ">LSTR</a>) with a Hold.

LSTR

Benchmark Reiterates Hold on Landstar System

SoFi Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>) shares are trading higher Wednesday after the company on Tuesday posted strong <a href="https://www.benzinga.com/pressreleases/24/07/b40032979/sofi-technologies-reports-net-revenue-of-599-million-and-net-income-of-17-million-for-q2-2024-mark">second-quarter results on Tuesday. </a>
The Details:
SoFi reported earnings of 1 cent per share, inline with the consensus estimate, and quarterly sales of $599 million beat the Street's estimate for the second quarter.&nbsp;
SoFi's revenue increased 22.54% year-over-year, and total members rose 41% from the prior year period.
&#8220;We had an exceptional second quarter. Our relentless focus on product innovation and member growth across our portfolio of businesses not only drove strong results today, but we expect that they&#8217;ll fuel financial growth for years to come. Our one-stop shop strategy continues to deliver strong, diversified growth and profitability, despite macroeconomic volatility,&#8221; commented Anthony Noto, CEO of SoFi Technologies.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/07/40051107/first-solar-reports-strong-q2-results-eps-beat-sales-up-24">First Solar Reports Strong Q2 Results: EPS Beat, Sales Up 24%</a>
SoFi expects third-quarter adjusted net revenue above estimates and raised its full-year revenue guidance. Needham analyst Kyle Peterson reiterated a Buy rating and $10 price target <a href="https://www.benzinga.com/quote/SOFI/analyst-ratings">on the stock</a> following the print.&nbsp;
According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, SoFi shares are trading above the stock&#8217;s 50-day moving average of $6.90 and 10.1% of shares are being sold short.&nbsp;
<h2 class="wp-block-heading">Will SOFI Stock Go Up?</h2>
When trying to assess whether or not SoFi Technologies will trade higher from current levels, it's a good idea to take a look at analyst forecasts. 
Wall Street analysts have an average 12-month price target of $8.75 on SoFi. The Street high target is currently at $10 and the Street low target is $7. Of all the analysts covering SoFi Technologies, 2 have positive ratings, 2 have neutral ratings and no one has negative ratings.
In the last month, 4 analysts have adjusted price targets. Here's a look at recent price target changes <a href="https://www.benzinga.com/quote/SOFI/analyst-ratings">[Analyst Ratings]</a>. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering SoFi Technologies have performed in recent history. 
Stocks don't move in a straight line. The average stock market return is approximately 10% per year. SoFi Technologies is 21.81% down year-to-date. The average analyst price target suggests the stock could have further upside ahead.
For a broad overview of everything you need to know about SoFi, visit <a href="https://www.benzinga.com/quote/SOFI">here</a>. If you want to go above and beyond, there's no better tool to help you do just that than <a href="https://pro.benzinga.com/">Benzinga Pro</a>. Start your free trial today.
SOFI Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, SoFi Technologies shares are up 3.91% at $7.71 at the time of publication Wednesday.
Read Also:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/07/40051630/match-group-stock-climbs-on-strong-q2-results-hinge-revenue-up-48">Match Group Stock Climbs On Strong Q2 Results, Hinge Revenue Up 48%</a></li>
</ul>
Image: Shutterstock

Movers

SOFI

What's Going On With SoFi Stock After Earnings?

Piper Sandler analyst Arvind Ramnani upgrades Dayforce (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAY#NYSE">DAY</a>) from Neutral to Overweight and raises the price target from $68 to $71.

Upgrades

Piper Sandler Upgrades Dayforce to Overweight, Raises Price Target to $71

Former United States President Donald Trump has launched a line of limited-edition Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)-themed sneakers following his <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40070328/trump-raises-25m-at-bitcoin-conference-in-nashville-second-highest-fundraiser-across-campa">keynote address at the Bitcoin 2024 conference. </a>
What Happened: This development marks a significant shift in the intersection of political campaigning and digital asset promotion, The Block <a href="https://www.theblock.co/post/308565/donald-trump-selling-bitcoin-sneakers-after-keynote-speech-at-bitcoin-2024?utm_source=rss&amp;utm_medium=rss">reported</a>.
Trump, the Republican candidate for the upcoming presidential election, delivered a speech at the conference on Saturday, where he made bold promises regarding cryptocurrency policy should he be re-elected. 
These included pledges <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40018935/trumps-bitcoin-conference-pledge-can-he-really-fire-sec-chair-gensler">to dismiss</a> the current Securities and Exchange Commission (SEC) Chairman, Gary Gensler, and to halt the United States&#8217; Bitcoin sales in favor of establishing a &#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39975390/trumps-bitcoin-support-a-political-no-brainer-to-garner-votes-says-peter-schiff-promise-to">strategic Bitcoin reserve.</a>&#8220;
Following the conference, the former president took to his social media platform, Truth Social, to announce the release of the Bitcoin sneakers. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40071441/inflated-solana-metrics-mean-its-overvalued-compared-to-ethereum-report-claims">Inflated Solana Metrics Mean It&#8217;s &#8216;Overvalued&#8217; Compared To Ethereum, Report Claims</a>
&#8220;These are Limited Edition, they are each numbered, and you can now pay with Bitcoin or your favorite Crypto,&#8221; Trump stated in his post, directly linking the product launch to his conference appearance.
This latest venture into cryptocurrency-related merchandise follows Trump&#8217;s previous forays into the digital asset space, including his campaign&#8217;s acceptance of <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38952866/trump-accepts-cryptocurrency-donations-in-bitcoin-ethereum-shiba-inu-dogecoin-and-more-say">political donations</a> in various cryptocurrencies and <a href="https://www.benzinga.com/markets/cryptocurrency/23/10/35100775/donald-trumps-second-nft-sales-skyrocket-350-amid-buzz-surrounding-ex-president-becoming-h">his association</a> with non-fungible token (NFT) collections featuring his likeness.
The timing of this announcement is particularly noteworthy as it precedes Benzinga&#8217;s <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event scheduled for Nov. 19.
Read Next:
<ul>
<li><a style="font-weight: bold;" href="https://www.benzinga.com/markets/cryptocurrency/24/07/40066426/sec-charges-bitclout-founder-with-257m-crypto-fraud-scheme">SEC Charges BitClout Founder With $257M Crypto Fraud Scheme</a></li>
</ul>
Image: Shutterstock

Trump Launches Limited Edition Bitcoin-Themed Sneakers Following Bitcoin 2024 Keynote: Report

<a href="https://www.youtube.com/watch?v=ceWX6dbED6w" title="https://www.youtube.com/watch?v=ceWX6dbED6w">https://www.youtube.com/watch?v=ceWX6dbED6w</a>

US Confident It Can Still Communicate With Hamas, Says State Dept.; State Department Spokesman Vedant Patel Briefs Reporters

Benchmark analyst Mark Miller reiterates Advanced Energy Indus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEIS#NASDAQ">AEIS</a>) with a Buy and maintains $117 price target.

The Only Monthly Membership With a Positive ROI!

-

-

-

-

-

-

-

The Only Monthly Membership With a Positive ROI!

-

-

-

-

-

-

-

Comments

Element79 Gold

News

Latest news for Element79 Gold (OTC:ELMGF) Stock