Latest news for Eqonex (OTC:EQOSQ) Stock

Eqonex Ltd is a digital assets financial services company focused on delivering a cryptocurrency and digital assets ecosystem. The company offers services related to Exchange and Trading, Capital Markets, Custody, and Asset Management.

Eqonex Ltd

Canaccord Genuity analyst William Plovanic maintains Insulet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PODD#NASDAQ">PODD</a>) with a Buy and maintains $234 price target.

News

Price Target

Analyst Ratings

PODD

Canaccord Genuity Maintains Buy on Insulet, Maintains $234 Price Target

General Motors&#8217; (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) <a href="https://www.benzinga.com/news/24/04/38426856/gm-unveils-plans-for-autonomous-driving-unit-cruise-relaunch-after-hiatus-expects-1-7b-in-expenses" target="_blank" rel="noreferrer noopener">autonomous driving unit</a>, Cruise, is abandoning its plans to build the Origin autonomous vehicle and instead focussing on using its next-generation Chevrolet Bolt for autonomous driving operations.
What Happened: Origin is an entirely autonomous vehicle with no manual controls or pedals for which GM had great plans.
However, the production of Origin is no longer in the picture, as per a letter to shareholders from GM CEO Mary Barra. 
&#8220;The Cruise team will also simplify their path to scale by focusing their next autonomous vehicle on the next-generation Chevrolet Bolt, instead of the Origin. This addresses the regulatory uncertainty we faced with the Origin because of its unique design. In addition, per-unit costs will be much lower, which will help Cruise optimize its resources,&#8221; Barra wrote on Tuesday. 
For the first half of 2024, Cruise accrued an operating loss of $1,650 million, 28% significantly higher than the loss of $1,289 million recorded in the corresponding period of last year. GM also spent $583 million on restructuring Cruise in the period. 
Cruise did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga&#8217;s</a> request for comment on the expected timeline for the introduction of Bolt robotaxis.
Why It Matters: During GM's third-quarter earnings call last year, company CEO Mary Barra said the company is working with Honda Motor Co. to bring driverless rides to Tokyo in early 2027 with Origin.
"We'll do that with our Origin, the world's first-ever vehicle purpose-built for autonomous driving on public roads. As Cruise continues to push the boundaries of what AV technology can deliver society, safety is always at the forefront," Barra had said.
However, Cruise went on a downhill roll afterward. The company suspended operations in the U.S. late last year following the involvement of one of its robotaxis in an&nbsp;<a href="https://www.benzinga.com/news/23/10/35052444/self-driving-cruise-car-accident-leaves-pedestrian-trapped-and-injured-in-san-francisco" target="_blank" rel="noreferrer noopener">accident in San Francisco</a>, leading to heightened regulatory scrutiny and the <a href="https://www.benzinga.com/news/24/05/38606510/us-is-currently-sc-ed-ex-cruise-ceo-calls-for-manufacturing-makeover-to-win-over-chinese-auto-rivals">exit of its co-founder </a>and then CEO Kyle Vogt.
The company&nbsp;<a href="https://www.benzinga.com/news/24/04/38155753/cruise-back-on-phoenix-roads-soon-gms-self-driving-unit-reportedly-gears-up-to-resume-robotaxi-testi" target="_blank" rel="noreferrer noopener">resumed manual driving in the city of Phoenix</a>&nbsp;to gather road information earlier this year in April and in Houston and Dallas, Texas in June.
The company also&nbsp;<a href="https://www.benzinga.com/news/24/06/39500635/gm-appoints-marc-whitten-as-new-cruise-ceo-gears-up-for-robotaxi-resumption-amid-tesla-challenge" target="_blank" rel="noreferrer noopener">appointed</a>&nbsp;Marc Whitten&nbsp;as its new Chief Executive Officer (CEO) late last month. 
Check out more of Benzinga'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/24/07/39900392/teslas-fsd-version-12-5-doesnt-support-sunglasses-yet-contrary-to-elon-musks-word">Tesla&#8217;s FSD Version 12.5 Doesn&#8217;t Support Sunglasses Yet, Contrary To Elon Musk&#8217;s Word</a></li>
</ul>
Photo courtesy: Cruise

Tech

GM's Cruise Abandons Pedal-less Origin Autonomous Vehicle, Pivots To Next-Generation Chevrolet Bolt Instead

Deutsche Bank analyst James Shin maintains Bristol-Myers Squibb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) with a Hold and lowers the price target from $53 to $45.

Deutsche Bank Maintains Hold on Bristol-Myers Squibb, Lowers Price Target to $45

Canaccord Genuity analyst William Plovanic maintains DexCom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXCM#NASDAQ">DXCM</a>) with a Buy and maintains $145 price target.

DXCM

Canaccord Genuity Maintains Buy on DexCom, Maintains $145 Price Target

RBC Capital analyst James McGarragle maintains Air Canada (TSX:<a class="ticker" href="https://www.benzinga.com/stock/AC#TSX">AC</a>) with a Sector Perform and lowers the price target from C$18 to C$17.

TSX:AC

RBC Capital Maintains Sector Perform on Air Canada, Lowers Price Target to C$17

<ul>
<li>In this Summer Ad Release we&rsquo;re introducing:A suite of features to help multi-location services businesses generate and manage high-intent leads &mdash; including Request a Quote for Brands, Yelp Guaranteed, Verified License, and Portfolio.&nbsp;</li>
<li>New and expanded ad formats and measurement tools for national advertisers, including enhancements to Spotlight video ads, the expansion of Yelp Audiences for audio platforms, and a new conversion API that improves advertiser measurement.</li>
</ul>

YELP

Yelp Introduces Request A Quote For Brands And Unveils A Series Of New Updates For National Advertisers

Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>)&nbsp;reported fiscal second-quarter 2024 revenue growth of 20% year-on-year to $4.099 billion (3.81 billion euros), missing the analyst consensus estimate of&nbsp;<a target="_blank" href="https://investors.spotify.com/home/default.aspx" rel="noreferrer noopener">$4.170 billion</a>.&nbsp;
EPS of $1.43 (1.33 euros) beat the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate of $1.15</a>.
Premium Revenue grew 21% year over year to 3.35 billion euros, helped by subscriber additions and ARPU&nbsp;increases.&nbsp;Ad-supported revenue grew 13% Y/Y to 456 million euros.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/entertainment/24/06/39437936/spotify-unveils-new-basic-plan-after-recent-premium-price-hike" rel="noreferrer noopener">Spotify Unveils New Basic Plan After Recent Premium Price Hike</a>
Spotify&#8217;s Total MAUs (Monthly Active Users) rose 14%&nbsp;Y/Y&nbsp;to 626&nbsp;million. It reported 246 million Premium subscribers, adding 7 million versus 6 million estimates, the Variety <a target="_blank" href="https://variety.com/2024/digital/news/spotify-q2-2024-earnings-results-subscribers-price-increase-1236081182/" rel="noreferrer noopener">reports</a>. Ad-supported MAUs grew 15% Y/Y to 393 million.
Within Premium, the average revenue per user (ARPU) rose by 8% year over year to 4.62 euros. Ad-supported revenue rose 13%.
Margins: The gross margin improved by 510 bps to 29.2%, reflecting improved podcast and music profitability.&nbsp;
The Premium gross margin was 31.4%, up 291 bps&nbsp;Y/Y, reflecting improvements in music profitability.&nbsp;
The ad-supported gross margin was 13.4%,&nbsp;which is&nbsp;up 1,907 bps Y/Y, reflecting&nbsp;&nbsp;lapping of prior year charges related to efficiency actions, an improvement in podcast and music profitability. Operating income improved to 266 million euros with a margin of 7.0%.
Spotify held 5.4 billion euros in cash and equivalents and generated €490 million in free cash flow.
Outlook: Spotify expects third-quarter revenue of $4.31 billion (4.0 billion euros) versus <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">a consensus of $4.37 billion</a> and total MAUs of 639 million.&nbsp;
Price action:&nbsp;SPOT shares traded higher by 13.10% at $335 premarket at the last check on Tuesday.
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39716447/spotifys-long-term-growth-and-pricing-power-set-to-boost-revenue-analyst" target="_blank" rel="noreferrer noopener">Spotify&#8217;s Long-Term Growth and Pricing Power Set to Boost Revenue: Analyst</a>
Photo by David Švihovec on Unsplash

Earnings

Guidance

Eurozone

Movers

Media

SPOT

Spotify's Q2 Earnings: Revenue Grows 20% As Premium Revenue Surge Drives Higher Average Revenue Per User

RBC Capital analyst Tom Callaghan maintains Sleep Country Canada (TSX:<a class="ticker" href="https://www.benzinga.com/stock/ZZZ#TSX">ZZZ</a>) with a Sector Perform and raises the price target from C$30 to C$35.

TSX:ZZZ

RBC Capital Maintains Sector Perform on Sleep Country Canada, Raises Price Target to C$35

EF Hutton analyst Jason Kolbert initiates coverage on Geovax Labs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOVX#NASDAQ">GOVX</a>) with a Buy rating and announces Price Target of $18.

Initiation

GOVX

EF Hutton Initiates Coverage On Geovax Labs with Buy Rating, Announces Price Target of $18

HC Wainwright &amp; Co. analyst Raghuram Selvaraju reiterates RAPT Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RAPT#NASDAQ">RAPT</a>) with a Neutral.

Reiteration

RAPT

HC Wainwright & Co. Reiterates Neutral on RAPT Therapeutics

Baird analyst Shrenik Kothari maintains CrowdStrike Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) with a Outperform and lowers the price target from $350 to $335.

CRWD

Baird Maintains Outperform on CrowdStrike Holdings, Lowers Price Target to $335

Today, we&#39;re excited to share some changes that are coming - to our brand and the personalized experiences we&#39;re creating for our customers.
<ul>
<li>We recently rolled out a host of new features on the <a href="https://corporate.bestbuy.com/best-buy-unlocks-personalized-discovery-and-shopping-with-new-app/">Best Buy&reg; app</a> designed to give our customers a personalized shopping experience that&#39;s as unique as they are. This includes a new personalized home page, a Discover tab where customers can explore new tech, a Shop with Videos experience with personalized video content, personalized push notifications, a new Digital Wallet payment and rewards experience and much more. And just in time for the back-to-school season, we&#39;re helping customers find the right tech at the right price point. Customers can now choose to receive personalized alerts to make sure they don&#39;t miss when a product they&#39;ve had their eye on goes on sale, or when their exclusive member deals go live.</li>
</ul>
<ul>
<li>A growing number of our customers prefer video content when discovering and learning about technology. We&#39;re creating a new lineup of video content focused on innovators, new products, discovery, tech tips, buying guides, and more. More than 500 videos will be rolled out by the end of the year on the <a href="https://www.youtube.com/@BestBuy">Best Buy YouTube channel</a>, the Best Buy app and BestBuy.com. That&#39;s three times more than last year.</li>
</ul>
<ul>
<li>When our customers walk through our doors, we want them to get excited about all that can be discovered, and we&#39;ve reimagined how our stores can do just this. Later this summer and fall, we&#39;re introducing more experiential spaces in hundreds of stores that showcase the latest tech, from brands like GoPro, Tesla, Lovesac and Starlink.</li>
</ul>
<ul>
<li>In addition to their amazing expertise, our Blue Shirts and Geek Squad&reg; Agents are the ultimate champions of technology and helping our customers imagine what&#39;s possible. We&#39;re adding dedicated teams in our computing, appliance and home theater sections, which is exactly where our customers have told us they want support. We brought this to life during the recent launch of Copilot+ with <a href="https://corporate.bestbuy.com/best-buy-brings-copilot-pcs-to-life-for-customers/">more than 30,000 team members</a> ready to help.</li>
</ul>
<ul>
<li>We know that many of our customers like to do their own research. Our <a href="https://corporate.bestbuy.com/best-buy-cnet-partnership/">partnership with CNET</a> will allow us to integrate unbiased editorial advice from CNET&#39;s experts throughout every stage of the customer shopping journey across Best Buy channels - such as BestBuy.com, in store and on the Best Buy app.</li>
</ul>
<ul>
<li>This summer, through our new partnership with Google Cloud, we&#39;re providing our customers and employees with even more <a href="https://corporate.bestbuy.com/generative-ai-customer-support/">personalized, best-in-class tech support</a> experiences, including a gen AI-powered virtual assistant for customers who prefer a self-service option.</li>
</ul>

GOOG

GOOGL

Best Buy Announces Changes To Brand And Personalized Experiences For  Customers;  Announces Gen AI-powered Virtual Assistant In Partnership With Google Cloud For Customers Who Prefer Self-service Option

Baird analyst Joe Vruwink maintains Cadence Design Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) with a Outperform and lowers the price target from $341 to $338.

CDNS

Baird Maintains Outperform on Cadence Design Sys, Lowers Price Target to $338

In a recent development, Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) is making significant strides in the AI stock market, posing a challenge to Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
What Happened: The report, based on recent interactions with investors in New York and Connecticut, indicates that Broadcom&#8217;s specialized AI business is gaining traction, Business Insider<a href="https://markets.businessinsider.com/news/stocks/broadcom-vs-nvidia-ai-stock-investor-sentiment-citi-chips-avgo-2024-7"> reported</a> on Tuesday. The company has been assisting cloud giants like Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) and Amazon Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) in developing customized AI chips for internal use.
&#8220;AVGO is catching up to NVDA as the top holding as AVGO has more AI customers joining (OpenAI and Bytedance) and accretion from VMware,&#8221; Citi noted. However, Broadcom&#8217;s stock still lags behind Nvidia&#8217;s, with a 79% gain in a year compared to Nvidia&#8217;s 177%.
The shift in investor sentiment towards Broadcom is significant, given Nvidia&#8217;s dominance in the AI stock market. Other semiconductor companies, including NXP Semiconductors and Advanced Analog Devices, are also seeing increased investor interest due to expected inventory replenishments.
See Also: <a href="https://www.benzinga.com/news/24/07/39877477/microsoft-blames-european-commission-agreement-as-reason-it-cant-secure-windows-like-apple-secures-m?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Microsoft Blames European Commission Agreement As Reason It Can&#8217;t Secure Windows Like Apple Secures MacOS After CrowdStrike Outage</a>
Despite a mixed sentiment, Citi maintains a positive outlook on the semiconductor sector, stating, &#8220;We remain wildly bullish on semis.&#8221;
Why It Matters: Broadcom is targeting a massive artificial intelligence (AI)<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39793230/broadcom-has-over-150b-of-ai-silicon-opportunity-over-next-5-years-says-analyst"> silicon market opportunity</a>, worth over $150 billion in the next five years. This positions the tech giant for significant growth, both in the near term and long term.
Broadcom&#8217;s dominance in the $5-7 billion <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39354599/broadcoms-cutting-edge-ai-networking-technology-leaves-nvidia-marvell-cisco-behind-">data center/AI Ethernet switching</a> and routing chipset market, with a commanding 80% market share. This dominance is largely due to its relentless innovation.
Despite Broadcom&#8217;s progress, Nvidia could <a href="https://www.benzinga.com/markets/equities/24/07/39765205/nvidia-could-be-worth-nearly-50-trillion-in-a-decade-says-early-tesla-amazon-investor-nearly-2x-">achieve a market capitalization </a>of nearly $50 trillion within the next decade, according to tech investor James Anderson.
Price Action: On Tuesday, Broadcom was trading 0.11% lower in the pre-market after closing at $161.06 on Monday, according to <a href="https://pro.benzinga.com">Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39875506/crowdstrikes-faulty-microsoft-windows-update-gets-slammed-by-us-cybersecurity-official-was-a-huge-de?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Crowdstrike&#8217;s Faulty Microsoft Windows Update Gets Slammed By US Cybersecurity Official: &#8216;Was A Huge Deal&#8230;&#8217;</a></li>
</ul>
Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

General

AMZN

AVGO

NVDA

Broadcom To Challenge Nvidia Dominance? Analyst Says Jensen Huang-Led Chip Giant's Competitor Is 'Catching Up'

HC Wainwright &amp; Co. analyst Patrick Trucchio initiates coverage on Beam Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEAM#NASDAQ">BEAM</a>) with a Buy rating and announces Price Target of $80.

BEAM

HC Wainwright & Co. Initiates Coverage On Beam Therapeutics with Buy Rating, Announces Price Target of $80

Wells Fargo analyst Roger Read initiates coverage on LandBridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LB#NYSE">LB</a>) with a Overweight rating and announces Price Target of $34.

Wells Fargo Initiates Coverage On LandBridge with Overweight Rating, Announces Price Target of $34

Directors Robert Langer and Stephen Berenson will also retire from the Board.

Management

MRNA

Carlyle Group Co-Founder And Co-Chairman David Rubenstein Joins Moderna's Board of Directors, Effective August 5, 2024 - Filing

Through a Memorandum of Understanding, Eve Air Mobility (&ldquo;Eve&rdquo;) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVEX#NYSE">EVEX</a>, EVEXW)), an aerospace manufacturer and service and solutions provider for electric vertical take-off and landing aircraft (eVTOLs), and Siemens Smart Infrastructure, a manufacturer of electrical and digital technologies and solutions, are teaming up to evaluate the electrical infrastructure and energy management services needed to support safe, efficient and scalable eVTOL operations. Together, the two companies will collaborate on evaluating the energy service needs for eVTOL aircraft and demand for these services across the United States as the Advanced Air Mobility (AAM) industry grows.

EVEX

Eve Air Mobility, Siemens Smart Infrastructure SIgn MoU To Evaluate Electrical Infrastructure And Energy Management For Scalable eVTOL Operations

HC Wainwright &amp; Co. analyst Heiko Ihle reiterates Gold Royalty (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/GROY#AMEX">GROY</a>) with a Buy and maintains $5.75 price target.

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