Latest news for Forbo Holding (OTC:FBOHY) Stock

Forbo Holding AG manufactures and sells flooring and movement systems. The company organizes itself into two segments based on product type. The Flooring Systems segment, which generates the majority of revenue, sells commercial and residential floor coverings, entrance flooring systems, and building and construction flooring adhesives to the construction and remodeling industries. The Movement Systems segment sells conveyor and processing belts, plastic modular belts, power transmission belts, and flat modular belts, to the food, automotive, and fitness equipment industries. The majority of revenue comes from Europe.

FORBO HOLDING UNSP/ADR by Forbo Holdings AG

Forbo Holding AG

Billionaire entrepreneur Mark Cuban recently expressed his views on Elon Musk&#8216;s Department Of Government Efficiency (DOGE) initiative, advocating for more transparency and suggesting the inclusion of Democrats for oversight.
What Happened: Cuban on Monday reiterated his long-standing stance on government transparency, stating, &#8220;If you have nothing to hide, hide nothing.&#8221; 
Cuban&#8217;s post was a response to a resurfaced 2017 video shared by an X user, where the billionaire called for cutting the government's size by at least one-third and enhancing its efficiency—an idea that also underpins Trump&#8217;s newly established department, now led by Musk.
Cuban said, he &#8220;Still stand by it.&#8221;
challenging Musk&#8217;s DOGE initiative, which has faced criticism for its lack of transparency, Cuban suggested that Musk invite Democrats to work with his DOGE teams to provide a clearer picture of the project&#8217;s operations.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Still stand by it. Said it many times before then. Blogged about it too. Difference is the transparency. <a href="https://twitter.com/DOGE?ref_src=twsrc%5Etfw">@doge</a> says they are transparent. They don't want anyone questioning them. When it comes to government transparency: If you have nothing to hide, hide nothing… <a href="https://t.co/P845QlOTAJ">https://t.co/P845QlOTAJ</a>
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1888711577047880106?ref_src=twsrc%5Etfw">February 9, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
This post follows Cuban&#8217;s previous criticisms of the Tesla Inc CEO&#8217;s influence on the government and his control over free speech. He has also expressed concerns about Musk&#8217;s motivations and intentions.
SEE ALSO: <a href="https://www.benzinga.com/news/25/02/43582376/not-a-bad-return-on-his-investment-bernie-sanders-says-elon-musk-spent-277-million-to-elect-trump-and-made-154-billion-since-election-day">&#8216;Not A Bad Return On His Investment&#8217;—Bernie Sanders Says Elon Musk Spent $277 Million To Elect Trump And Made $154 Billion Since Election Day</a>
Why It Matters: Cuban&#8217;s post comes amid ongoing legal challenges claiming that DOGE fails to comply with federal transparency regulations. His call for more transparency and diverse oversight could potentially impact the public&#8217;s perception of DOGE and its operations. <a href="https://www.benzinga.com/markets/25/02/43554357/mark-cuban-calls-out-elon-musks-growing-influence-under-trump-on-a-mission-to-make-himself-above-and-beyond-the-president-of-the-united-states">Cuban has previously questioned Musk&#8217;s growing influence</a> and his control over free speech.
Interestingly, Cuban, a long-time Trump critic, has also shown interest in launching his meme coin with proceeds going to the U.S. Treasury to reduce the national debt. &nbsp;<a href="https://www.benzinga.com/startups/25/02/43515728/mark-cuban-mocks-meme-coins-but-pitches-one-to-cut-u-s-debt-if-its-a-grift-make-it-a-grift-to-benefit-all-americans">Cuban&#8217;s potential meme coin</a>&nbsp;could offer a contrast to the current DOGE initiative and its transparency issues.
Meanwhile, in a pre-Super Bowl interview, President Donald Trump expressed his trust in Elon Musk and highlighted that Musk's influence is particularly noteworthy since he is &#8216;not gaining anything&#8217; from the position.
<ul>
<li>READ MORE: <a href="https://www.benzinga.com/news/25/02/43581429/mark-cubans-400k-bet-on-teen-founder-comes-with-an-unexpected-invitation-i-want-my-daughters-to-meet-you-and-learn-from-you">Mark Cuban&#8217;s $400K Bet On Teen Founder Comes With An Unexpected Invitation: &#8216;I Want My Daughters To Meet You, And Learn From You&#8217;</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.

Markets

Tech

Mark Cuban Says He Backs Government Efficiency, But Questions Elon Musk's DOGE Initiative's Transparency: 'If You Have Nothing to Hide, Hide Nothing'

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk and Vice President of Finance Sendil Palani addressed allegations of the EV company evading taxes in posts on X over the weekend. The company did not evade tax but carried it forward as per an Internal Revenue Service (IRS) provision, they said.
What Happened: Musk called for tax reform in a post on social media X on Saturday, claiming there are too many &#8220;loopholes.&#8221; Following the post, several X users noted that his EV company Tesla did not pay federal income tax for several years, including in 2024.
&#8220;Tesla losses were high for many years, so carry forward. Super majority of profit is from production and sales overseas, not US. But the point I am making IS that we need tax reform!,&#8221; Musk wrote in response to the allegations.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Yeah. Tesla losses were high for many years, so carry forward. Super majority of profit is from production and sales overseas, not US. But the point I am making IS that we need tax reform!
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1888411275060773218?ref_src=twsrc%5Etfw">February 9, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Tesla VP of Finance Palani also took to X to address the claims.
&#8220;Tesla&#8217;s income taxes are not an example of fraud. Tesla complies with all tax regulations in all of the regions of the world in which we operate,&#8221; Palani said.
&#8220;Details about 2024 Income Taxes were disclosed to last month in our 10-K (filing with the Securities and Exchange Commission). Notably &#8211; we outline our net operating loss carry-forwards, which result from the fact that Tesla has been unprofitable for the significant majority of its 20+ year history,&#8221; he said, while urging everyone to not look at any one recent year in isolation for details on the company&#8217;s finances. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Professor, Respectfully, Tesla&#39;s income taxes are not an example of fraud. Tesla complies with all tax regulations in all of the regions of the world in which we operate. Details about 2024 Income Taxes were disclosed to last month in our 10-K. Notably &#8211; we outline our net…
&mdash; Sendil Palani (@sendilpalani) <a href="https://twitter.com/sendilpalani/status/1888694584894754947?ref_src=twsrc%5Etfw">February 9, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
A tax loss carryforward is an&nbsp;IRS&nbsp;provision that allows businesses to carry a tax loss from one year into future years to offset a portion of their taxable income.&nbsp;
Why It Matters: Tesla <a href="https://www.benzinga.com/news/24/04/38485339/elon-musk-reminisces-how-tesla-achieved-its-first-quarterly-profit-11-years-ago-a-case-of-deliver-or">turned a full-year profit for the first time in 2020</a>. The company reported a net income of $721 million for 2020 and in 2024, this rose to $7.09 billion. In 2023, Tesla&#8217;s net income attributable to shareholders was nearly $15 billion. 
For the full-year 2024, Tesla recorded total revenue of $97.69 billion, marking a growth of about 1% from the year before, despite a 6% drop in automotive revenues which was offset by a rise in revenue from the company&#8217;s energy generation and storage segment.
The company reported <a href="https://www.benzinga.com/tech/25/01/43326143/tesla-stock-rises-5-after-hours-on-fsd-and-new-vehicle-promises-despite-q4-revenue-miss">earnings per share of $2.04</a>, down 53% from the year before, following a drop in annual vehicle deliveries and heavy discounting measures aimed at hiking sales. 
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:
<ul>
<li><a href="https://www.benzinga.com/25/02/43577187/spacex-to-land-falcon-9-first-stage-off-the-coast-of-the-bahamas-later-this-month">Elon Musk&#8217;s SpaceX To Land Falcon 9 First Stage Off The Coast Of The Bahamas Later This Month</a></li>
</ul>
Photo courtesy: Shutterstock

News

TSLA

Tesla CEO Elon Musk, VP Of Finance Address Allegations Of Tax Fraud: 'Losses Were High For Many Years, So Carry Forward'

Elon Musk, the CEO of SpaceX and Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), has publicly dismissed the idea of acquiring the widely-used short-video app, TikTok. On Jan. 19, the U.S. President, Donald Trump signed an executive order to postpone the enforcement of a ban on the Chinese short-video app.
What Happened: Musk&#8217;s comments were made in late January and released online by The WELT Group,&nbsp;a division of&nbsp;German media company Axel Springer&nbsp;SE, on&nbsp;Saturday. Musk joined a summit hosted by the group via video, where he stated, &#8220;I&nbsp;have not put in a&nbsp;bid for TikTok.&#8221;
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Europe at a Turning Point - Elon Musk on Bureaucracy and the Fight for Innovation" width="500" height="281" src="https://www.youtube.com/embed/QVbRG2J1Saw?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
<figcaption class="wp-element-caption"> These comments were made a week after U.S. President Donald Trump signaled openness to Musk purchasing the app, which is owned by the Chinese company ByteDance. However, Musk admitted he was unfamiliar with the app's format and stated he had no intentions of acquiring it. &#8220;I&#8217;m not eager to buy TikTok. I rarely acquire companies,&#8221; Musk remarked. The Tesla Founder also clarified that he likes to build companies from scratch but acquiring Twitter, now called X, was an &#8216;important and productive step&#8217; to preserve the freedom of speech in America and the world at large. While the enforcement of the ban on the short-video app has been delayed, Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Google (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) have yet to restore TikTok to their app stores. However, TikTok announced on Friday that U.S. Android users can now download and access the app via package kits available on its website, bypassing the restrictions. Trump has stated that he is in discussions with multiple parties regarding the potential purchase of TikTok and expects a decision on the app&#8217;s future later this month. The President ordered a ban on the short video app amid national security concerns. Currently, the app has approximately 170 million users in the U.S. SEE ALSO: <a href="https://www.benzinga.com/general/social-media/25/02/43511395/trump-pushes-for-tiktok-deal-china-could-oblige-if-it-werent-for-those-tariffs-heres-what-we-know">Trump Pushes For TikTok Deal, China Could Oblige If It Weren&#8217;t For Those Tariffs — Here&#8217;s What We Know</a> Why It Matters: The idea of Musk acquiring TikTok first <a href="https://www.benzinga.com/general/social-media/25/01/42965533/elon-musk-emerges-as-potential-tiktok-us-buyer-as-ban-deadline-looms-company-terms-it-pure-fiction">emerged in mid-January</a>, when Chinese officials considered Musk as a potential buyer for TikTok&#8217;s U.S. operations. This was due to Musk&#8217;s existing relationships in China through Tesla&#8217;s Shanghai factory and his close ties to President-elect Donald Trump. Later in the month, Trump himself <a href="https://www.benzinga.com/tech/25/01/43118289/trump-open-to-elon-musk-or-larry-ellison-buying-tiktok-calls-us-permit-key-to-1-trillion-valuation">expressed openness</a> to the idea of Musk or the Chairman of Oracle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) Larry Ellison acquiring TikTok. This marked a significant shift in the platform's uncertain future amid regulatory challenges. A report by The Washington Post on Wednesday suggests a rather firm stance by China, wherein it may allow TikTok&#8217;s U.S. operations to shut down instead of approving a sale unless Washington offers broader trade and technology concessions. READ MORE: <a href="https://www.benzinga.com/tech/25/02/43582884/elon-musks-spacex-and-t-mobile-go-live-with-starlink-powered-satellite-to-cell-service-heres-how-much-it-will-cost">Elon Musk&#8217;s SpaceX And T-Mobile Go Live With Starlink-Powered Satellite-To-Cell Service: Here&#8217;s How Much It Will Cost </a> Image via Shutterstock Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. </figcaption></figure>

AAPL

GOOG

GOOGL

ORCL

Elon Musk Shuts Down TikTok Buyout Rumors, Says He Prefers To Build Companies From Scratch: 'I Rarely Acquire Companies'

The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index remained in the &#8220;Fear&#8221; zone on Friday.
U.S. stocks settled lower on Friday, with the Dow Jones index dipping more than 400 points as investors digested the jobs report for January.
Wall Street also recorded losses last week as renewed fears over inflation and trade tariffs eroded risk appetite. Investor uncertainty grew following President Donald Trump&#8217;s announcement that ‘reciprocal tariffs' would take effect next week.
The University of Michigan&#8217;s consumer sentiment survey revealed an &#8220;unusually large&#8221; spike in inflation expectations. The one-year inflation outlook surged by a full percentage point to 4.3%, marking its highest level since November 2023.
On the macro front, February's jobs report revealed a mixed outcome, with employment growth slowing down more than expected, yet unemployment fell more than expected, and wages surged more than expected.
Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) reported better-than-expected earnings and sales results for its fourth quarter after the market close Thursday. However, the company said it sees first-quarter net sales to come in a range of $151 billion to $155.5 billion, up 5% to 9% year-over-year, down from market estimates of $158.5 billion.
All sectors on the S&amp;P 500 closed on a negative note, with communication services, consumer discretionary, and materials stocks recording losses on Friday.
The Dow Jones closed lower by over 444 points to 44,303.40 on Friday. The S&amp;P 500 fell 0.95% to 6,025.99, while the Nasdaq Composite dipped 1.36% at 19,523.40 during Friday's session.
Investors are awaiting earnings results from McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>), and Rockwell Automation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROK#NYSE">ROK</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 39.3, the index remained in the &#8220;Fear&#8221; zone on Friday, versus a prior reading of 44.3.
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/trading-ideas/long-ideas/25/02/43559194/jim-cramer-likes-this-utilities-stock-i-think-youve-got-a-good-one">Jim Cramer Likes This Utilities Stock: &#8216;I Think You&#8217;ve Got A Good One&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

Equities

Pre-Market Outlook

AMZN

Dow Dips Over 400 Points Following Tariffs Threat: Investor Sentiment Declines, Greed Index In 'Fear' Zone

With U.S. stock futures trading higher this morning on Monday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects McDonald&#8217;s Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) to report quarterly earnings at $2.84 per share on revenue of $6.44 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. McDonald&#8217;s shares slipped 0.02% to $294.25 in after-hours trading.</li>
<li>Analysts expect&nbsp;ON Semiconductor Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) to post quarterly earnings of 97 cents per share on revenue of $1.76 billion. The company will release earnings before the markets open. In after-hours trading, ON Semiconductor shares fell 0.5% to $51.00.</li>
<li>VOXX International Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VOXX#NASDAQ">VOXX</a>) posted a loss of $1.90 per share for the third quarter, versus a year-ago profit of 8 cents per share. Its sales fell to $105.17 million from $135.26 million. VOXX International shares fell 0.3% to $7.38 in the after-hours trading session.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Before the markets open, Rockwell Automation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROK#NYSE">ROK</a>) is projected to report quarterly earnings at $1.59 per share on revenue of $1.88 billion. Rockwell Automation shares fell 0.4% to $267.35 in after-hours trading.</li>
<li>Analysts expect Vertex Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>) to post quarterly earnings at $4.03 per share on revenue of $2.78 billion after the closing bell. Vertex Pharmaceuticals shares fell 2.5% to close at $469.32 on Friday.</li>
</ul>
Check This Out:<a href="https://www.benzinga.com/trading-ideas/long-ideas/25/02/43559194/jim-cramer-likes-this-utilities-stock-i-think-youve-got-a-good-one"> </a>
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/02/43559194/jim-cramer-likes-this-utilities-stock-i-think-youve-got-a-good-one">Jim Cramer Likes This Utilities Stock: &#8216;I Think You&#8217;ve Got A Good One&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

Earnings

Long Ideas

Trading Ideas

VOXX

VRTX

McDonald's, ON Semiconductor And 3 Stocks To Watch Heading Into Monday

McDonald's Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) will release its fourth-quarter financial results, before the <a href="https://www.benzinga.com/quote/MCD/earnings">opening bell, on Monday, Feb. 10, 2025.</a>
Analysts expect the Chicago-based company to report quarterly earnings at $2.86 per share, down from $2.95 per share in the year-ago period. McDonald's projects quarterly revenue of $6.48 billion, compared to $6.41 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Jan. 21, Cognizant Technology Solutions Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTSH#NASDAQ">CTSH</a>) and McDonald&#8217;s have extended their partnership with a multi-year renewal.
McDonald's shares fell 0.02% to close at $294.30 on Friday.
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/MCD/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Citigroup analyst Jon Tower maintained a Buy rating and raised the price target from $334 to $336 on Jan. 28, 2025. This analyst has an accuracy rate of 72%.</li>
<li>Keybanc analyst Eric Gonzalez maintained an Overweight rating and cut the price target from $330 to $320 on Jan. 24, 2025. This analyst has an accuracy rate of 70%.</li>
<li>Morgan Stanley analyst John Glass maintained an Overweight rating and lowered the price target from $340 to $336 on Jan. 21, 2025. This analyst has an accuracy rate of 61%.</li>
<li>Truist Securities analyst Jake Bartlett maintained a Buy rating and cut the price target from $350 to $342 on Oct. 30, 2024. This analyst has an accuracy rate of 75%.</li>
<li>BMO Capital analyst Andrew Strelzik maintained an Outperform rating and raised the price target from $315 to $335 on Oct. 30, 2024. This analyst has an accuracy rate of 66%.</li>
</ul>
Considering buying MCD stock? Here&#8217;s what analysts think:
Read This Next: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/02/43559194/jim-cramer-likes-this-utilities-stock-i-think-youve-got-a-good-one">Jim Cramer Likes This Utilities Stock: &#8216;I Think You&#8217;ve Got A Good One&#8217;</a></li>
</ul>

Price Target

Analyst Ratings

CTSH

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

Alibaba Group Holding Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BABAF#OTC">BABAF</a>)&nbsp; stock climbed 5.90% to HKD 105.90 ($13.60) in Hong Kong trading Monday, extending its year-to-date gains to 30.26% as investors eye the company&#8217;s upcoming third-quarter earnings report and recent artificial intelligence developments.
The Chinese e-commerce giant&#8217;s cloud unit <a href="https://www.benzinga.com/trading-ideas/movers/25/01/43351350/alibaba-stock-rises-as-deepseek-selloff-continues-qwen-ai-model-gains-attention">recently launched Qwen2.5-VL</a>, an advanced AI model family capable of parsing files, analyzing videos, counting objects in images, and controlling PCs. The model reportedly outperformed competitors including OpenAI&#8216;s GPT-4, Anthropic&#8217;s Claude 3.5 Sonnet, and Google&#8217;s Gemini 2.0 Flash across various benchmarks.
The strong performance comes as Chinese tech stocks experience broader momentum, led by AI firm DeepSeek. This is helping narrow the valuation gap with U.S. tech leaders known as the &#8220;Magnificent Seven.&#8221; Alibaba will report its <a href="https://www.benzinga.com/quote/BABA" target="_blank" rel="noopener">third-quarter earnings</a> before the market opens on Feb. 20.
The company&#8217;s Alibaba Group Holding Ltd. ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) shares closed at $103.51 on Friday, up 3.13% on the U.S. markets, with after-hours trading showing a slight decline of 0.26%.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/02/43582928/bitcoin-ethereum-dogecoin-as-investors-prepare-for-crucial-cpi-ppi-data-top-analyst-anticipates-a-strong-week-for-crypto">Bitcoin, Ethereum, Dogecoin Flat As Investors Prepare For Crucial Inflation Data: Top Analyst Says This Week Comparable To Any &#8216;Crisis&#8217; Period But You Should Be Bullish</a></li>
</ul>
Image Via Shuterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

BABA

ALIBABA GROUP HOLDING LTD by Alibaba Group Holding Limited

BABAF

Alibaba Shares Surge Ahead Of Q3 Earnings As AI Advances Boost Chinese Tech Stocks

President Donald Trump announced on Monday he has directed Treasury Secretary Scott Bessent to cease penny production, following recent criticism of the coin&#8217;s costly manufacturing process.
What Happened: &#8220;For far too long the United States has minted pennies which literally cost us more than 2 cents,&#8221; Trump posted on social media. &#8220;This is so wasteful! I have instructed my Secretary of the US Treasury to stop producing new pennies. Let&#8217;s rip the waste out of our great nations budget, even if it&#8217;s a penny at a time.&#8221;
<figure class="wp-block-image aligncenter size-large is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/10012729/Screenshot-2025-02-10-at-11.55.45%E2%80%AFAM-1024x414.png" alt="" class="wp-image-773756" style="width:760px;height:auto" /></figure>
The decision comes after Elon Musk&#8216;s Department of Government Efficiency (DOGE) highlighted the economic inefficiency of penny production last month. According to DOGE, the U.S. Mint <a href="https://www.benzinga.com/news/25/01/43152917/elon-musk-led-doge-targets-us-penny-over-179m-annual-production-cost">spent $179 million in taxpayer funds</a> during the fiscal year 2023 to produce 4.5 billion pennies, with each coin costing 3.07 cents to manufacture – more than triple its face value.
See Also: <a href="https://www.benzinga.com/markets/equities/25/02/43583982/mcdonalds-dishes-first-female-athlete-meal-ahead-of-q4-numbers-and-it-comes-with-a-bold-new-bbq-sauce">McDonald&#8217;s Dishes First Female Athlete Meal Ahead Of Q4 Numbers And It Comes With A Bold New BBQ Sauce</a>
Why It Matters: The penny&#8217;s composition of 97.5% zinc and 2.5% copper plating contributes to its high production costs, with parts and labor accounting for 88% of manufacturing expenses across four U.S. Mint facilities. The coin represents approximately 40% of total coin <a href="https://www.benzinga.com/news/25/01/43152917/elon-musk-led-doge-targets-us-penny-over-179m-annual-production-cost">circulation in the United States</a>.
The move aligns with actions taken by other nations, including Canada and the United Kingdom, which have already eliminated their lowest-denomination coins. If implemented, the nickel would become America&#8217;s lowest-value coin in circulation.
This latest development adds momentum to a long-running debate about the penny&#8217;s future. In 2013, the Brookings Institution advocated for discontinuing both penny and nickel production, <a href="https://www.brookings.edu/articles/lets-drop-pennies-and-nickels-too-while-were-at-it/">suggesting</a> broader reform of U.S. coinage.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/02/43582928/bitcoin-ethereum-dogecoin-as-investors-prepare-for-crucial-cpi-ppi-data-top-analyst-anticipates-a-strong-week-for-crypto">Bitcoin, Ethereum, Dogecoin Flat As Investors Prepare For Crucial Inflation Data: Top Analyst Says This Week Comparable To Any &#8216;Crisis&#8217; Period But You Should Be Bullish</a></li>
</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Government

Trump Orders Scott Bessent To 'Rip The Waste Out,' Ends Penny Production After Elon Musk's DOGE Report

Hank Azaria, the iconic voice behind some of "The Simpsons" most beloved characters, put artificial intelligence to the test to see if it could accurately replicate his voice—and the results left much to be desired.
What Happened: In an experiment with the New York Times, Azaria recorded samples of his voice, which were then fed into an AI system to generate artificial versions of his signature characters, including Moe Szyslak, the bartender.
The AI-generated voices, however, failed to capture the depth, nuance, and soul of his performances. "It felt like what it was, which was just a vocal version of printed text," Azaria noted after hearing an AI-generated imitation of himself.
See Also: <a href="https://www.benzinga.com/25/02/43583558/kendrick-lamars-super-bowl-halftime-show-teases-diss-track-not-like-us-before-delivering-the-ultimate-mic-drop-momentsamuel-l-jackson-serena-williams-and-sza-join-the-spectacle">Kendrick Lamar&#8217;s Super Bowl Halftime Show Teases Diss Track &#8216;Not Like Us&#8217; Before Delivering The Ultimate Mic Drop Moment—Samuel L. Jackson, Serena Williams, And SZA Join The Spectacle</a>
When tested with Moe the bartender's voice, the AI&#8217;s attempt was even further off the mark. "It doesn't have enough gravel in it," Azaria explained. "And it's missing a lot of sounds that Moe should make."
Azaria also demonstrated how voice acting is more than just vocal delivery—it's a full-body performance. To prove his point, he acted out running dialogue while physically moving, showing how breath control and motion affect the realism of a character's voice.
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.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Can A.I. Voice &#039;The Simpsons&#039;? We Found Out. &#x7C; NYT Opinion" width="500" height="281" src="https://www.youtube.com/embed/1Hz19kpCse4?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Why It&#8217;s Important: The exploration of AI in voice acting by Azaria comes amid growing interest in AI&#8217;s ability to mimic celebrity voices.
Last year, Meta Platforms Inc. unveiled plans to enable its AI chatbot to <a href="https://www.benzinga.com/news/24/09/40996713/metas-ai-chatbot-to-mimic-voices-of-celebrities-like-judi-dench-and-john-cena-heres-what-mark-zucker">replicate the voices</a> of celebrities like Judi Dench and John Cena.
However, the use of AI-generated voices has sparked controversy. Technology reviewer Marques Brownlee previously accused a company of using AI to clone his <a href="https://www.benzinga.com/top-stories/24/10/41383093/marques-brownlee-accuses-scummy-shady-company-of-using-ai-to-copy-his-voice-with-no-repercussions">voice without permission</a>.
Azaria acknowledged that AI is improving, but he remains skeptical that it can ever fully replace human creativity. He also noted that audience preferences will ultimately dictate the future of AI in entertainment.&nbsp;
&#8220;Right now, what AI generates by itself as Moe the bartender or anything else isn't going to cut it. But if it does start to cut it, people are going to listen to it, and they're going to be grateful that it's so readily available,&#8221; the voice actor stated.
Photo Courtesy: Ekaterina_Minaeva 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>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/media/25/02/43583398/top-analyst-says-apple-has-ramped-up-hiring-for-home-robotics-team">Apple Ramping Up Hiring For Home Robotics Team, Says Top Analyst: What&#8217;s Brewing?</a></li>
</ul>
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.

Will The Simpsons Be Voiced By AI One Day? Hank Azaria Checks To See If His Job Is Safe

<ul>
<li>In conjunction with the royalty financing deal with HealthCare Royalty (HCRx) announced on January 30, 2025, GENFIT will request the consent of the holders of 2025 OCEANEs and proposes:
<ul>
<li>&nbsp;to repurchase the 2025 OCEANEs at EUR 32.00 per bond from interested bondholders, or alternatively</li>
<li>to pay a consent fee of EUR 0.60 per bond still outstanding after the upcoming bondholder meeting and cancellation of the repurchased 2025 OCEANEs</li>
</ul>
</li>
<li>Both proposals are subject to approval of the royalty financing by the 2025 OCEANEs bondholders at the upcoming bondholders meeting and closing of the royalty financing</li>
</ul>

GNFT

GENFIT Finalizes 2025 OCEANEs Proposal: Repurchase At EUR 32.00 Per Bond, Alternative EUR 0.60 Consent Fee For Remaining Holder

ASE Technology Holding Co., Ltd.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASX#NYSE">ASX</a>, IEX:<a href="https://www.benzinga.com/stock/3711#IEX">3711</a>, ", ASEH", or the ", Company", ))), announces its unaudited consolidated net revenues for January 2025.
CONSOLIDATED NET REVENUES (UNAUDITED)
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Jan</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Dec</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Jan</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Sequential</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">YoY</td>
</tr>
<tr>
<td colspan="1" rowspan="1">(NT$ Million)</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2025</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2024</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2024</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Change</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Change</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Net Revenues</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">49,444</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">52,905</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">47,390</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">-6.5&nbsp;%</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">+4.3&nbsp;%</td>
</tr>
<tr>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Jan</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Dec</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Jan</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Sequential</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">YoY</td>
</tr>
<tr>
<td colspan="1" rowspan="1">(US$ Million)</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2025</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2024</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2024</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Change</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Change</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Net Revenues</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">1,506</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">1,632</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">1,525</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">-7.7&nbsp;%</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">-1.3&nbsp;%</td>
</tr>
</tbody>
</table>
</figure>
Net revenues for ATM assembly, testing and material business are as follows:
ATM NET REVENUES (UNAUDITED)
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Jan</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Dec</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Jan</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Sequential</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">YoY</td>
</tr>
<tr>
<td colspan="1" rowspan="1">(NT$ Million)</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2025</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2024</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2024</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Change</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Change</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Net Revenues</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">28,137</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">29,858</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">24,894</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">-5.8&nbsp;%</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">+13.0&nbsp;%</td>
</tr>
<tr>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Jan</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Dec</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Jan</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Sequential</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">YoY</td>
</tr>
<tr>
<td colspan="1" rowspan="1">(US$ Million)</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2025</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2024</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2024</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Change</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Change</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Net Revenues</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">857</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">921</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">801</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">-6.9&nbsp;%</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">+7.0&nbsp;%</td>
</tr>
</tbody>
</table>
</figure>

ASE Technology Holding Reported January 2025 Revenue Of $1.51B, Down By 1.3% YoY, ATM Revenue Of $857M In January 2025, Up By 7% YoY

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.kosmosenergy.com%2F&amp;esheet=54202629&amp;newsitemid=20250209720700&amp;lan=en-US&amp;anchor=Kosmos+Energy&amp;index=1&amp;md5=0c87d2ce32e3afeda89b17a3cc6baee7">Kosmos Energy</a> (NYSE/LSE: KOS) today announces that first liquified natural gas (LNG) production has been achieved at the bp-operated Greater Tortue Ahmeyim (GTA) LNG project, offshore Mauritania &amp; Senegal.
On December 31, 2024, gas from the first phase of GTA started to flow from wells to the floating production storage and offloading (FPSO) vessel as part of the commissioning process. At the FPSO, gas is being processed to remove any condensate, water and impurities ahead of delivery to the floating LNG vessel for liquefaction.
Gas has now been delivered to the floating LNG vessel and liquefaction has commenced. The liquefaction of gas into LNG is when Kosmos starts to recognize gas entitlement production from the project in its quarterly statements. In addition, bp has given notice to the offtaker (bp gas marketing ltd.) for an LNG carrier to arrive later this quarter to export the first LNG cargo. Lifting of the first LNG cargo is when Kosmos starts to recognize revenue and generate cash flow from the project.
Commenting on first LNG production at GTA, Chairman and Chief Executive Officer Andrew G. Inglis said: "First LNG is another major milestone for Kosmos, the GTA partnership and the governments of Mauritania and Senegal. We are looking forward to the accelerated ramp-up of LNG production and the first LNG cargo lifting during the first quarter."

Kosmos Energy Achieves First LNG Production at Greater Tortue Ahmeyim, Eyes Cash Flow Growth

Nokia announces a leadership transition – Justin Hotard appointed as successor to Pekka Lundmar

Management

Nokia Announces CEO Transition: Justin Hotard To Succeed Pekka Lundmark As CEO Effective April 1, 2025

WKEY

WISeKey Introduces New WISeID Features, Ensuring Privacy And Security In An Increasingly Centralized Internet

<ul>
<li>The shipment demonstrates steady progress of the Faraday (FX) strategy.</li>
<li>FF plans to unveil further updates on the FX 6 series and the latest FX strategy in March.</li>
</ul>

FFIE

Faraday Future Ships First FX 6 Prototype Mules To U.S., Advancing Product Development And Testing Phase

MATW

Reported Friday, Matthews International Rejects ISS Endorsement Of Barington's Nominees, Highlights Strategic Actions Driving Shareholder Value

ONCY

Reported Friday, Oncolytics Biotech CEO And Co-Founder Matt Coffey To Step Down; Wayne Pisano To Continue As Interim CEO During Successor Search

Mr Charles Yan, Chief Financial Officer of ICG, said: "The AE BOX enables us to introduce the promising world of ALEO's zero-knowledge proofing technology to our users. The world of crypto rapidly evolves, and the launch of the AE BOX aims to place our users at the forefront of such developments. Leveraging ALEO's groundbreaking technology, the AE BOX empowers our users to achieve new levels of efficiency and privacy in their mining operations while providing a safe and secure platform to scale their crypto efforts."

Reported Saturday, Intchains Group's Goldshell Introduces AE BOX: A Cutting-Edge ALEO Miner Prioritizing Security and Decentralization

<a href="https://www.benzinga.com/real-estate/24/11/41804177/inside-a-88m-florida-mansion-with-a-secret-tunnel-to-the-beach-is-this-the-most-exclusive-estate-on">Florida</a> Gov. Ron DeSantis last week proposed a $115.6 billion budget for the next fiscal year, focusing on maintaining the state's strong economic performance.&nbsp;
In a statement from his office, DeSantis highlighted Florida's healthy revenue and low unemployment as signs of success under his administration, and his budget aims to keep that momentum going.
A major highlight is the proposed $2.2 billion in tax cuts, including a two-year suspension of the business rent tax, which could ease the financial strain on businesses, especially small ones. Another key piece is a "Second Amendment" tax break on firearms and ammunition sales.
Don't Miss:
<ul>
<li>Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a></li>
<li>They call it the &#8216;Biggest Disruption To IP Since Disney&#8217; and their funding window is closing. <a href="https://www.benzinga.com/money/elf-labs-1">Less than 2 days for investors to claim shares at just $2/share with $980 minimum.</a></li>
</ul>
The budget also allocates significant funding for public sector employees, with a $118 million raise proposed for 4,700 state law enforcement officers and more than 700 firefighters. Teachers are also a priority, with $246.7 million aimed at increasing their salaries.
The proposal also raises per-student funding by $222, bringing the total to $9,205. However, as noted by the Florida Education Association, even with these increases, Florida still lags behind many states in teacher pay and education funding.
DeSantis described his budget as focusing on fiscal responsibility, and it cuts $3 billion from the current year's budget.&nbsp;
Trending: ‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. <a href="https://www.benzinga.com/money/mode-mobile-2">You can invest today for just $0.26/share with a $1000 minimum.</a>
According to state financial reports, his goal is to reduce Florida's debt by 50% by 2027-28, while maintaining a reserve of $14.6 billion, or about 12.5% of the total budget. Since he took office, Florida's rainy-day fund has grown from $1.5 billion to nearly $5 billion.
Not everyone is on board with the proposal, though. House Democratic Leader Fentrice Driskell, speaking to The New York Post, argued that Florida is becoming too expensive for many residents, with costs for things like insurance, groceries, and healthcare outpacing wage growth.
A significant portion of the proposed budget goes toward immigration enforcement. According to his office, DeSantis is proposing $505 million for the Division of Emergency Management to assist federal immigration efforts.&nbsp;
See Also: According to Juniper Research, the total value of B2B cross-border payments stored on the blockchain is projected to exceed $4.4 trillion — <a href="https://www.benzinga.com/money/web3-enabler-future-of-enterprise-transactions">Join the first company to bring blockchain payments to Salesforce early with just $100.</a>
The Fish and Wildlife Conservation Commission would receive $4.4 million to create a special immigration enforcement unit, and $1.7 million is earmarked for a new Office of Secure Florida at the Department of Commerce to enforce E-Verify compliance.
The final budget will be decided by the state legislature during its 60-day session starting March 4. Already, lawmakers have put forward their own immigration-related budget, which includes $515 million for law enforcement, Central Florida Public Media reported.&nbsp;
Besides <a href="https://www.benzinga.com/startups/24/10/41291635/are-trumps-proposed-corporate-tax-cuts-the-key-to-unleashing-a-stock-market-boom-heres-what-history">tax cuts</a> and public sector investments, the governor&#8217;s budget proposal includes several tax breaks, like a $296 million temporary tax holiday for consumers and $170 million in savings for first-time homebuyers. The plan also continues funding for the popular My Safe Florida Homes renovation program.
Read Next:
<ul>
<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Many are rushing to grab 4,000 of its pre-IPO shares for just $0.26/share!</a></li>
<li>Built on the trusted network of Fortune 500 companies, <a href="https://www.benzinga.com/money/web3-enabler-the-most-boring-blockchain-company-partners-with-salesforce">this blockchain company partners with Salesforce to uproot lengthy and expensive B2B transactions, and you can invest with just $100.</a></li>
</ul>
Image from Shutterstock

Ron DeSantis Unveils $115.6 Billion Budget With $2.2 Billion in Tax Breaks—But Critics Say It Leaves 'Florida's Families Behind'

<ul>
<li>3E10 vg/eye achieved an 83% reduction in injection burden vs. projected on-label aflibercept 2 mg Q8W, 70% required 0-1 supplemental injection, and 57% were injection-free through 52 weeks</li>
<li>In the recently diagnosed subgroup, which most resembles the Phase 3 4FRONT-1 and 4FRONT-2 patient populations, 87% required 0-1 supplemental injection and 80% were injection-free through 52 weeks</li>
<li>Durable and stable aflibercept expression demonstrated across all 3E10 vg/eye PRISM cohorts, with up to two years of follow-up</li>
<li>4D-150 continues to be well tolerated, with up to three years of follow-up</li>
<li>4FRONT-1 and 4FRONT-2 are on target to initiate in Q1 and Q3 2025, respectively</li>
<li>Company to host webcast on Monday, February 10, 2025 at 8:00 a.m. ET</li>
</ul>

FDMT

Reported Saturday, 4DMT Shares 52-Week Findings From Phase 2b PRISM Wet AMD Study And Long-Term Durability Data Supporting 4D-150 4FRONT Global Registration Program

Comments

Forbo Holding

News

Latest news for Forbo Holding (OTC:FBOHY) Stock

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga