Option chain shows key data for First Republic Bank's stock options at various strike prices and expiration dates. Traders use this information to analyze potential trades and assess market sentiment for First Republic Bank.

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First Republic Bank offers private banking and wealth management services to high-net-worth clients. Services are offered in the San Francisco, New York City, and Los Angeles markets. The bank was founded in 1985.

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The filing also highlighted the board&#39;s appreciation for Dimon&#39;s leadership, which has steered the bank to achieve its highest-ever profit in the history of American banking. The bank&#39;s revenue for 2023 stood at $49.6 billion.

Jamie Dimon&#39;s Pay Soars To $36M In 2023 As JPMorgan Secures Highest-Ever Profit

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&#39;Shark Tank&#39;s&#39; Kevin O&#39;Leary Says Rising Rates Are Killing Regional Banks: &#39;We&#39;ve Started To See The Cracks&#39;

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These eleven large-cap stocks were the worst performers in the last week. Are they in your portfolio?
<ol>
<li>Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) shares dipped 20.52% after the company released headline results from the REDEFINE 1 Phase 3 <a href="https://www.benzinga.com//node/42613036" target="_blank" rel="noreferrer noopener">trial in the global REDEFINE program</a>.</li>
<li>Vertex Pharmaceuticals Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>) stock declined 14.33% after the company announced results from its <a href="https://www.benzinga.com//node/42599745" target="_blank" rel="noreferrer noopener">Phase 2 study of Suzetrigine</a>.</li>
<li>XPO, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>) shares were down 13.47%.</li>
<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) shares fell 13.33% last week as the company is <a href="https://www.benzinga.com//node/42520765" target="_blank" rel="noreferrer noopener">set to be removed</a> from the Nasdaq 100 Index.</li>
<li>Nu Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NU#NYSE">NU</a>) stock plummeted 13.07%. A new government fiscal spending package and last week&#8217;s central bank rate hike could erode global investor confidence and raise concerns over the nation&#8217;s deficit.</li>
<li>Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) stock was down 13.01%, likely due to continued weakness stemming from its <a href="https://www.benzinga.com//node/42538739" target="_blank" rel="noreferrer noopener">ongoing legal dispute</a> with Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>).</li>
<li>Micron Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) shares decreased 12.08% after the company reported mixed earnings results and issued weak guidance for the current quarter. <a href="https://www.benzinga.com//node/42594359" target="_blank" rel="noreferrer noopener">Multiple analysts also lowered price forecasts</a>.</li>
<li>Paycom Software, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAYC#NYSE">PAYC</a>) stock lost 11.63% last week, a result of the Fed rate decision that caused a selloff in software stocks.</li>
<li>Cintas Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTAS#NASDAQ">CTAS</a>) stock declined 11.50% after the company reported <a href="https://www.benzinga.com//node/42588404" target="_blank" rel="noreferrer noopener">second-quarter financial results</a>. Several analysts lowered <a href="https://www.benzinga.com/quote/ctas/analyst-ratings" target="_blank" rel="noreferrer noopener">the price forecast on the stock</a>.</li>
<li>Warner Bros. Discovery, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) <a href="https://www.benzinga.com//node/42603589" target="_blank" rel="noreferrer noopener">declined 11.43%</a>.</li>
<li>monday.com Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDY#NASDAQ">MNDY</a>) stock dived 11.20% after Citigroup cut its price forecast <a href="https://www.benzinga.com/quote/mndy/analyst-ratings" target="_blank" rel="noreferrer noopener">on the stock from $338 to $302</a>.</li>
</ol>
Also Read:
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<li><a href="https://www.benzinga.com/news/large-cap/24/12/42638256/teva-pharmaceutical-li-auto-and-darden-restaurants-are-among-top-large-cap-gainers-last-week-december-16-20-are-the-others-in-your-portfolio" target="_blank" rel="noreferrer noopener">Teva Pharmaceutical, Li Auto, And Darden Restaurants Are Among Top Large Cap Gainers Last Week (December 16-20): Are The Others In Your Portfolio?</a></li>
</ul>
Photo via Shutterstock

Large Cap

Movers

Trading Ideas

CTAS

CVNA

MNDY

MSTR

PAYC

QCOM

SMCI

VRTX

Novo Nordisk, Super Micro Computer And Arm Are Among Top Large Cap Losers Last Week (December 16-20): Are The Others In Your Portfolio?

It's that time of year again. Holiday tunes on the radio, twinkling lights everywhere and a hefty dose of pressure to deliver the "perfect" Christmas. But what happens when you're juggling debt, young kids and the harsh reality that you're barely making ends meet? That's where Joshua found himself when he called into The Ramsey Show.&nbsp;
In a video posted in December titled, "Buy My Kids Christmas Gifts or Pay Off Debt?", <a href="https://www.benzinga.com/personal-finance/24/12/42488891/dave-ramsey-scolds-broke-61-year-old-with-no-money-who-splurged-on-a-26000-tractor-quit-blaming-dumb-stuff-on-being-a-country-girl">Dave Ramsey</a> and his co-host daughter, Rachel Cruze, didn't hold back.
At just 24 years old, Joshua – a medically retired military veteran – shared a tough predicament. "We ran into some financial hardship … and with Christmas coming up, I have three young children. I'm wondering, should I sacrifice their happiness Christmas morning to continue to pay off this debt?"
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</ul>
On paper, Joshua's situation looks tight. With $1,800 in credit card debt and $4,000 in collections, plus a family of five to support, his question wasn't unreasonable. But Dave Ramsey and co-host Rachel Cruze didn't sugarcoat their advice.
"Absolutely, you need a job," Dave said point-blank. Joshua, currently in school full-time, explained he was studying business administration with a focus on project management. His plan was to complete his degree without working for the next four years. Meanwhile, his wife stays home with their three young kids, including a newborn.
That plan didn't fly with Dave. "I worked 40 to 60 hours a week while I was going to school," he reminded Joshua. The bottom line? While education is important, it can't come at the expense of providing for your family.
See Also: The global games market is projected to generate $272B by the end of the year —<a href="https://www.benzinga.com/money/gameflip"> for $0.55/share, this VC-backed startup with a 7M+ userbase gives investors easy access to this asset market.</a>
Joshua mentioned he's earning around $6,000 a month from his military pension, but as Dave pointed out, "You can save up the money for Christmas by working during this month." The advice? Start driving for Uber, delivering with Grubhub or picking up any available gig.
Rachel chimed in with a mom's perspective, reassuring Joshua – and every parent out there – that <a href="https://www.benzinga.com/personal-finance/24/12/42317960/warren-buffett-used-to-gift-loved-ones-10000-cash-for-christmas-but-switched-to-stocks-with-a-note-cash-them-in-or-hold-onto-them">Christmas doesn't have to be expensive</a> to be meaningful. "Kids are so low maintenance," she said. "Go so cheap … they just want the experience of opening gifts."
She also shared a personal anecdote: "We spent all this stinking money on Christmas and Uncle Mac went to the dollar store, spent 20 bucks and was the biggest hit. All kids care about is opening something!"
Dave added with his usual wit, "The newborn doesn't even know it's Christmas. Feed them, change their diaper and they're a happy puppy."
Trending: Many are using retirement income calculators to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a>
Beyond Christmas, the real focus was on Joshua's long-term plan. "You only need $5,800 to be debt-free," Dave emphasized. "You could have that by March." He urged Joshua to keep working after the holidays, balancing his job with his online classes to dig out of debt and set his family up for financial success.
And for parents everywhere, Rachel left a crucial reminder: "Your kids want you. The stuff doesn't matter. Create experiences, not expenses."
Joshua's story is a wake-up call for anyone feeling the pressure of the holiday. Christmas doesn't have to come with a <a href="https://www.benzinga.com/news/24/12/42392068/elon-musks-ex-wife-says-he-forgot-to-buy-her-a-christmas-gift-but-when-he-realized-he-walked-barefoot-in-a-snowstorm-to-find-flowers">price tag you can't afford.</a> Whether delivering pizzas or picking up extra shifts, there's always a way to make it work without sacrificing your financial health. And remember, your kids will cherish the memories you create far more than the stuff you buy.
So this year, keep it simple. Ride bikes, bake cookies or hit the dollar store for a garbage bag full of joy. Your wallet – and your kids – will thank you.
Read Next:
<ul>
<li>Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.</li>
<li><a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.</li>
</ul>

Personal Finance

'Buy My Kids Christmas Gifts Or Pay Off Debt?' – Young Dad Of 3 Asks Dave Ramsey If He Should 'Sacrifice Their Happiness' Christmas Morning?

Mark Cuban, the serial entrepreneur and investor best known for his role on &#8220;Shark Tank,&#8221; had a surprisingly simple goal when he became a millionaire: avoid <a href="https://www.benzinga.com/news/24/12/42380812/mark-cuban-shares-the-one-thing-he-splurged-on-after-striking-it-rich-im-not-a-big-spender">spending all his money at once</a>.
What Happened: After selling his software company, MicroSolutions, for $6 million in 1990 and pocketing about $2 million after taxes, Cuban adopted a conservative investment approach to preserve his newfound wealth.
"I want you to invest for me like a 60-year-old. I don't want you to invest like I'm young, because I want to live off this for a long time," Cuban recalled telling his broker at the time and <a href="https://www.youtube.com/watch?v=oEK2063FPLw">shared</a> this in a recent interview.
This strategy, along with his frugal lifestyle, allowed him to safeguard his wealth while still enjoying occasional splurges.
Cuban's modest upbringing as the son of an automobile upholsterer near Pittsburgh shaped his cautious approach to money. 
Even after becoming a millionaire, he lived below his means, buying "the worst house in the best neighborhood" and steering clear of flashy cars. 
"By the time I sold MicroSolutions, I had just bought the worst house in the best neighborhood, but I wasn't big into that. I wasn't big into cars. I wanted to live like a student and just have fun," Cuban said. 
However, one notable indulgence was a $125,000 lifetime pass with American Airlines, which he used to "party like a rock star" across cities with his friends.
Also Read: <a href="https://www.benzinga.com/news/24/10/41196856/heres-how-mark-cubans-drunken-splurge-of-125-000-turned-into-a-profitable-investment">Mark Cuban Drunkenly Bought A $125,000 Lifetime Flight Pass And Turned It Into A Profitable Investment</a>
His financial perspective shifted dramatically in 1999 when he sold his second company, Broadcast.com, for $5.7 billion. The windfall gave Cuban the freedom to take more significant risks, a mindset he has carried into his investing career. 
Cuban has said that smart risks are essential to building wealth, reflecting his evolution from a cautious millionaire to a bold billionaire.
Today, Cuban focuses on his family and running Cost Plus Drugs, his pharmaceutical startup aimed at lowering prescription drug costs. While his days of lavish partying are behind him, he remains dedicated to making a positive impact. "I think less about making money and more about direction and&#8230;benefit[ing] as many Americans as I can," Cuban said during the interview.
Read Next
<a href="https://www.benzinga.com/news/24/11/41703723/mark-cubans-million-dollar-advice-to-teens-if-i-were-16-again-id-start-this-lucrative-side-hustle">Mark Cuban&#8217;s Million-Dollar Advice To Teens: &#8216;If I Were 16 Again, I&#8217;d Start This Lucrative Side Hustle&#8217;</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Success Stories

Mark Cuban's Wealth Journey: 'I Want to Live Off This for a Long Time'

These ten large-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Teva Pharmaceutical Industries Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>) stock escalated 33.88% after the company and Sanofi SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) announced that primary endpoints were met in the Phase 2b trial of Duvakitug for <a href="https://www.benzinga.com//node/42531132" target="_blank" rel="noreferrer noopener">ulcerative colitis and Crohn&#8217;s disease</a>.</li>
<li>Klaviyo, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KVYO#NYSE">KVYO</a>) shares surged 12.85%.</li>
<li>Olive Garden parent Darden Restaurants, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) stock rose 12.54% after the company reported better-than-expected second-quarter EPS and <a href="https://www.benzinga.com//node/42585797" target="_blank" rel="noreferrer noopener">issued an FY25 revenue outlook</a>. Several analysts raised the <a href="https://www.benzinga.com/quote/dri/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast on the stock</a>.</li>
<li>Doximity, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOCS#NYSE">DOCS</a>) shares upped 10.91%. Stephens &amp; Co. initiated coverage with an Equal-Weight rating and <a href="https://www.benzinga.com/quote/docs/analyst-ratings" target="_blank" rel="noreferrer noopener">a price forecast of $55</a>.</li>
<li>Birkenstock Holding plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BIRK#NYSE">BIRK</a>) shares increased 9.70% after the company reported better-than-expected fourth-quarter financial results and issued FY25 guidance. Several analysts raised <a href="https://www.benzinga.com//node/42599431" target="_blank" rel="noreferrer noopener">the price forecast on the stock</a>.</li>
<li>Jabil Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>) stock upped 7.30% after the company reported better-than-expected <a href="https://www.benzinga.com//node/42553094" target="_blank" rel="noreferrer noopener">first-quarter EPS and revenues</a>. Several analysts raised <a href="https://www.benzinga.com/quote/jbl/analyst-ratings" target="_blank" rel="noreferrer noopener">the price forecast on the stock</a>.</li>
<li>Neurocrine Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIX#NASDAQ">NBIX</a>) stock rose 6.88%. The FDA approved Crenessity (crinecerfont) capsules and oral solution as an adjunctive treatment to glucocorticoid replacement to control androgens in adult and pediatric patients four years of age and older with <a href="https://www.benzinga.com//node/42508449" target="_blank" rel="noreferrer noopener">classic congenital adrenal hyperplasia (CAH).</a></li>
<li>GameStop Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) stock was up 6.54% last week, continuing strength from Q3 earnings.</li>
<li>Dr. Reddy&#8217;s Laboratories Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDY#NYSE">RDY</a>) stock increased 6.29%.</li>
<li>Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) shares upped 6.13% last week.</li>
</ol>
Photo by Sundry Photography via Shutterstock

BIRK

CHWY

DOCS

KVYO

NBIX

TEVA

Teva Pharmaceutical, Li Auto, And Darden Restaurants Are Among Top Large Cap Gainers Last Week (December 16-20): Are The Others In Your Portfolio?

Elon Musk wasn't always the polarizing figure we see today in climate discussions. Once <a href="https://www.benzinga.com/news/24/04/38131745/cathie-wood-hails-elon-musks-visionary-impact-hes-transforming-the-world-saving-humanity-from-itself">celebrated</a> as a green-tech pioneer, Musk was vocal about the urgent need to combat climate change. In 2006, he described Tesla's mission as a way to "help expedite the move from a mine-and-burn hydrocarbon economy toward a solar electric economy." In 2015, he warned of the devastating consequences of delaying this transition. &#8220;The worst case,&#8221; he said, &#8220;is more displacement and destruction than all the wars in history combined.&#8221;
At the time, Musk painted a grim picture of the future if humanity failed to act. He specifically talked about the dangers of rising sea levels, warning that <a href="https://www.benzinga.com/real-estate/24/06/39420775/coastal-home-values-plunge-as-rising-seas-erode-market-confidence">oceanfront property</a> would become &#8220;a lot less valuable&#8221; as floods destroyed homes and businesses.&nbsp;
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<li>Deloitte's fastest-growing software company partnered with Amazon, Walmart &amp; Target announces the deadline to invest this year is 12/20. –  <a href="https://www.benzinga.com/money/mode-mobile-y2">Last Chance to get 4,000 of its pre-IPO shares for just $0.26/share!</a></li>
</ul>
In his first appearance on the Joe Rogan Podcast in 2018, Musk <a href="https://www.youtube.com/live/ycPr5-27vSI?si=uZaTXr2yTpuqmwVD&amp;t=5041">stressed</a> how strong the scientific agreement on climate change is, saying, &#8220;The scientific consensus is overwhelming. I mean, I don&#8217;t know any serious scientists – zero, literally zero – who don&#8217;t think that we have quite a serious climate risk that we&#8217;re facing.&#8221;&nbsp;
His past concerns align with findings from a Climate Central study, which revealed that nearly 650,000 parcels of oceanfront property in the U.S. currently sitting on dry land will be at least partially submerged within 30 years due to rising sea levels. This shift will <a href="https://www.benzinga.com/real-estate/24/03/37566436/the-list-of-us-cities-at-risk-of-destruction-because-of-rising-sea-levels-is-frightening-to-contempl">devastate property owners</a> and strain cities and counties that rely on property taxes to fund schools, emergency services and utilities.
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Insurance giant Swiss RE warned in 2021 that climate change could cut the world economy by $23 trillion in 2050, equivalent to 14 percent of global economic output.
Fast forward to today and Musk's rhetoric on climate change has undergone a dramatic shift. In an August conversation with Donald Trump on X, Musk downplayed the urgency of transitioning away from fossil fuels, suggesting the world has "plenty of time" to act.&nbsp;
<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">Many on the left and fake news have created another hoax that Trump was "slurring his words" during the X Spaces conversation with <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> Here is the full recording proving them wrong again <a href="https://t.co/vrVcRKpu60">pic.twitter.com/vrVcRKpu60</a>
&mdash; Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) <a href="https://twitter.com/TrumpDailyPosts/status/1823821120237396379?ref_src=twsrc%5Etfw">August 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Trending: 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-y2"> you can become an investor for $0.80 per share today.</a>
He even described the risk of climate change as &#8220;not as high as a lot of people say it is,&#8221; framing the issue in terms of discomfort from high CO2 levels instead of catastrophic dangers scientists have long warned about. This change in attitude has left people wondering why Musk, who once called for urgent action, now seems so dismissive.
Musk's pivot has not gone unnoticed. Critics point to his embrace of right-wing politicians and climate denialism as a key factor. On X (formerly Twitter), a platform he owns, climate scientists have been leaving in droves, citing a surge in misinformation about global warming. Musk's partner in DOGE, the prospective agency <a href="https://www.benzinga.com/politics/24/11/41962372/trumps-doge-with-musk-at-the-helm-riddled-with-conflicts-of-interest-says-clinton-era-official-robert-reich">tasked with cutting government costs</a>, Vivek Ramaswamy, previously called climate change a &#8220;hoax.&#8221;
Musk&#8217;s behavior presents a conflicting image. On the one hand, Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has revolutionized the electric vehicle market and Musk&#8217;s endeavors, such as the $100 million <a href="https://www.xprize.org/prizes/carbonremoval">Xprize</a> for carbon removal, demonstrate his dedication to creative solutions. However, his personal carbon footprint undermined his message, as his private jet logged a whopping 441 flights in 2023, emitting 5,159 tonnes of CO2, according to JetSpy.
Trending: Commercial real estate has historically outperformed the stock market, and<a href="https://equitymultiple.com/benzinga?invite=benzinga&amp;utm_campaign=product-promotion-earn&amp;utm_source=yahooFinance&amp;utm_medium=affiliate&amp;utm_content=stockmarket-yahoo"> this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!</a>
Then there's his claim that CO2 levels would only become a problem at 1,000 parts per million (ppm), much higher than today's <a href="https://climate.nasa.gov/vital-signs/carbon-dioxide/">420 ppm</a>. Scientists quickly debunked this, explaining that society would collapse long before CO2 reached those levels, as extreme weather, rising sea levels and food shortages would create chaos. Musk's mix-up of indoor air quality standards with outdoor atmospheric CO2 measurements shows a serious misunderstanding of basic science.
This evolution – or perhaps devolution – has left many wondering: What changed? Some suggest Musk's interests now lie more in maintaining relationships in conservative circles than in driving climate advocacy. For example, President-elect Donald Trump said climate change is not "the biggest threat" and claimed it would create "more oceanfront property." Others speculate that his sprawling business empire and the demands of his ventures have pulled him away from his once-clear mission.
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Markets

TSLA

Before His 180 On Climate Change, Elon Musk Advocated For Action, Cautioning That Oceanfront Real Estate Values Would Plummet

A Reddit user's late-night post has people thinking twice about their financial choices. The poster, who's been at the same job for a decade, shared a raw and relatable confession:
"I wish I had spent the past 10 years investing in BTC instead of 401(k). Pretty much the title. I just got off work, from a job I've grown to hate over the past year or two."
They went on to explain their situation. While their job pays well and comes with perks, it's physically taking a toll. Facing an uncertain future – possibly heading into short-term disability – they had a sobering realization:
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</ul>
"I would be retiring this year if I had invested $1 for $1 into BTC vs. my 401(k)."
For context, let's break down the math. In December 2014, Bitcoin was trading at just over $320. Fast-forward to today and Bitcoin's value has skyrocketed, hovering around $100,000. That's an increase of over 31,200%.
On the other hand, the average 401(k) grows at a steady rate of about 5-8% annually, which is solid but nowhere near the explosive gains of Bitcoin during the past decade. To make things even more tempting, $1,000 invested in Bitcoin in 2014 would now be worth over $312,000. A $10,000 investment would now be worth $3,125,000.&nbsp;
One commenter on the Reddit thread put it perfectly: "This post in 10 years and Bitcoin is $10 million; everyone will be saying, ‘I wish I put more in when it was under 100k. History repeats.'" Another chimed in with a more conservative guess, saying, "Surely it's gonna be more like 1mil, not 10mil."
See Also: Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/1milsaved"> The percentage may shock you</a>.
Of course, hindsight is 20/20. Bitcoin's success story is impressive but it <a href="https://www.benzinga.com/personal-finance/24/12/42510681/mark-cuban-says-hed-take-bananas-over-bitcoin-because-he-could-eat-the-bananas-calls-crypto-so-complicated-for-99-of-people">hasn't been a smooth ride</a>. Its price has swung wildly, leaving many investors holding their breath during crashes.
One commenter in the Reddit thread dropped an important reminder: "Unless you had a few thousand Bitcoin, you'd have probably lost your hard drive, had your account stolen or lost it to investment sites like FTX. Or maybe you sold it at the peak of $2,000 or invested in a bad coin."
Still, this Reddit post taps into a broader sentiment: the tension between <a href="https://www.benzinga.com/general/24/03/37513063/warren-buffett-says-he-wouldnt-pay-25-for-all-the-bitcoin-in-the-world-he-considers-crypto-rat-poiso">traditional, "safe" investing</a> and the allure of taking risks that might pay off in life-changing ways.
As the original post gained traction, it resonated with many people. Maybe it's because it's not just about money – it's about the dreams and regrets we all wrestle with when thinking about our futures.
Trending: It&#8217;s no wonder Jeff Bezos holds over $70 million in art — <a href="https://www.benzinga.com/money/masterworks">this alternative asset has outpaced the S&amp;P 500 since 1995, delivering an average annual return of 11.4%. Here&#8217;s how everyday investors are getting started.</a>
While it's easy to get caught up in the "should have" and "I wish" mindset, what matters is what you do next.
If this post hit a nerve, consider how you can make smarter financial moves now. Diversify your investments, start small and focus on consistency over time. Above all, only invest what you can afford to lose – whether in stocks, crypto or any other asset.
Most importantly, before making major financial decisions, <a href="https://www.benzinga.com/money/are-you-rich">consult a financial advisor</a>. They can help you balance your goals, risk tolerance and current resources to create a plan that works for you. After all, the best investment strategy isn't about chasing the past – it's about building a future you can feel confident in.
Read Next:
<ul>
<li>Many are using retirement income calculators to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a></li>
<li>Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.</li>
</ul>

'I Wish I Had Spent Past 10 Years Investing In Bitcoin Instead Of A 401(k)' – Man Nearing Retirement Realizes He'd Have Millions Saved Now

In a significant move to bolster the domestic semiconductor industry, the U.S. Commerce Department has approved a $406 million grant for Taiwan's&nbsp;GlobalWafers. This funding is aimed at enhancing silicon wafer <a target="_blank" href="https://www.benzinga.com/tech/24/12/42525551/ahead-of-trumps-return-to-white-house-us-approves-406m-grant-for-taiwans-chipmaker-globalwafers" rel="noreferrer noopener">production within the United States</a>.
Senate minority leader&nbsp;Mitch McConnell&nbsp;(R-Ky.) submitted an amicus brief to the Supreme Court, urging the rejection of&nbsp;TikTok's&nbsp;request to delay <a target="_blank" href="https://www.benzinga.com/24/12/42568430/senate-minority-leader-mcconnell-urges-supreme-court-to-reject-tiktoks-delay-request-pushing-for-january-ban-amid-first-amendment-debate" rel="noreferrer noopener">a law that could ban the app in January</a>.
Smartphones
Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)&nbsp;is reportedly gearing up to launch a redesigned&nbsp;AirTag&nbsp;in 2025 with better <a target="_blank" href="https://www.benzinga.com/media/24/12/42501665/apples-2025-airtag-to-feature-iphone-15s-ultrawide-band-chip-for-smarter-longer-range-tracking-report" rel="noreferrer noopener">tracking capabilities and range</a>.
Apple is reportedly planning to launch foldable iPhones <a target="_blank" href="https://www.benzinga.com/media/24/12/42500942/apple-eyes-2026-to-launch-foldable-iphones-and-ultralight-devices-as-it-looks-to-revitalize-sales-momentum-report" rel="noreferrer noopener">and ultralight devices by 2026</a>.
Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42513402/apples-2025-bull-case-can-it-deliver-without-riding-the-ai-wave" rel="noreferrer noopener">Apple&#8217;s 2025 Bull Case: Can It Deliver Without Riding The AI Wave?</a>
New leaks have emerged, offering a glimpse into the design of the upcoming&nbsp;Samsung Electronics Co.&#8217;s<a target="_blank" href="https://www.benzinga.com/24/12/42545936/samsung-galaxy-s25-ultra-and-s25-leaks-show-off-sleek-curved-design-and-slimmer-bezels-than-apples-iphone-16-pro-max" rel="noreferrer noopener">&nbsp;</a>(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) <a target="_blank" href="https://www.benzinga.com/24/12/42545936/samsung-galaxy-s25-ultra-and-s25-leaks-show-off-sleek-curved-design-and-slimmer-bezels-than-apples-iphone-16-pro-max" rel="noreferrer noopener">Galaxy S25 Ultra</a><a target="_blank" href="https://www.benzinga.com/24/12/42545936/samsung-galaxy-s25-ultra-and-s25-leaks-show-off-sleek-curved-design-and-slimmer-bezels-than-apples-iphone-16-pro-max" rel="noreferrer noopener">&nbsp;and&nbsp;</a><a target="_blank" href="https://www.benzinga.com/24/12/42545936/samsung-galaxy-s25-ultra-and-s25-leaks-show-off-sleek-curved-design-and-slimmer-bezels-than-apples-iphone-16-pro-max" rel="noreferrer noopener">S25+</a>.
Apple and&nbsp;NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)&nbsp;have announced a collaboration for the improvement in the <a target="_blank" href="https://www.benzinga.com/24/12/42568204/nvidia-and-apple-team-up-to-supercharge-llms-with-redrafter-technique" rel="noreferrer noopener">performance of large language models</a>.
Apple has slammed&nbsp;Meta Platforms, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) for its numerous requests to access iPhone-maker's software tools, <a target="_blank" href="https://www.benzinga.com/media/24/12/42569325/apple-slams-metas-interoperability-demands-cites-privacy-risks-instagram-parent-fires-back-cupertinos-assertions-have-no-basis-in-reality" rel="noreferrer noopener">citing potential privacy and security risks</a>.
Apple is reportedly engaging in discussions with&nbsp;Tencent&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) and TikTok's parent company,&nbsp;ByteDance, to integrate their <a target="_blank" href="https://www.benzinga.com/news/24/12/42569744/apple-reportedly-in-talks-with-tencent-tiktok-parent-bytedance-to-roll-out-ai-features-in-china" rel="noreferrer noopener">AI&nbsp;models into iPhones sold in&nbsp;China</a>.
Technology &amp; Social Media
Microsoft Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has reportedly acquired nearly twice as many&nbsp;Nvidia AI chips as its closest competitors. This strategic investment is aimed at bolstering its AI capabilities,<a target="_blank" href="https://www.benzinga.com/tech/24/12/42547442/microsof-scoops-up-485000-nvidia-ai-chips-twice-as-many-as-its-closest-rival-meta-report" rel="noreferrer noopener"> particularly for its Azure cloud services</a>.
Meta&nbsp;unveiled much-anticipated updates to its&nbsp;Ray-Ban&nbsp;smart glasses. It rolled out three new features for its Ray-Ban smart glasses:<a target="_blank" href="https://www.benzinga.com/24/12/42524192/metas-ray-ban-smart-glasses-can-now-be-your-chef-linguist-and-dj-whats-next-therapist" rel="noreferrer noopener"> live AI, live translations, and&nbsp;</a><a target="_blank" href="https://www.benzinga.com/24/12/42524192/metas-ray-ban-smart-glasses-can-now-be-your-chef-linguist-and-dj-whats-next-therapist" rel="noreferrer noopener">Shazam</a>.&nbsp;
Meta&#8217;s CEO&nbsp;Mark Zuckerberg&nbsp;said that&nbsp;Instagram&#8217;s Threads&nbsp;has reached a milestone <a target="_blank" href="https://www.benzinga.com/general/social-media/24/12/42525426/threads-reaches-100-million-daily-active-users-as-meta-capitalizes-on-exodus-from-elon-musks-x-to-alternative-platforms" rel="noreferrer noopener">of 100 million daily active users</a>.
Instagram&nbsp;head&nbsp;Adam Mosseri&nbsp;raised concerns about the growing challenge of distinguishing between real and AI-generated <a target="_blank" href="https://www.benzinga.com/24/12/42501178/meta-warns-ai-generated-content-can-be-a-threat-as-instagram-boss-suggests-always-considering-who-it-is-that-is-speaking" rel="noreferrer noopener">images on social media platforms</a>.
Read: <a target="_blank" href="https://www.benzinga.com/trading-ideas/technicals/24/12/42509206/soundhound-ai-soars-over-700-short-squeeze-potential-has-traders-talking" rel="noreferrer noopener">SoundHound AI Soars Over 700%: Short Squeeze Potential Has Traders Talking</a>
On Monday, President-elect&nbsp;Donald Trump&nbsp;reportedly met with TikTok CEO&nbsp;Shou Zi Chew&nbsp;at Mar-a-Lago, Florida, as the company seeks intervention from the U.S. <a target="_blank" href="https://www.benzinga.com/general/social-media/24/12/42522134/trump-meets-tiktok-ceo-shou-zi-chew-at-mar-a-lago-as-platform-urges-supreme-court-to-block-looming-ban" rel="noreferrer noopener">Supreme Court to prevent a looming ban</a>.
Read: <a target="_blank" href="https://www.benzinga.com/tech/24/12/42525899/elon-musk-reacts-after-sundar-pichai-shares-veo-2-as-google-looks-to-challenge-openais-sora-in-ai-video-race-looks-impressive" rel="noreferrer noopener">Elon Musk Reacts After Sundar Pichai Shares Veo 2 As Google Looks To Challenge OpenAI&#8217;s Sora In AI Video Race: &#8216;Looks Impressive&#8217;</a>
PDD Holdings‘&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) Temu app has once again secured the top position as the most downloaded free app on Apple's U.S. iOS store, marking its second <a target="_blank" href="https://www.benzinga.com/tech/24/12/42527567/pdds-temu-tops-ios-downloads-in-us-while-trump-wants-to-impose-100-tariffs-on-chinese-imports" rel="noreferrer noopener">consecutive year at the summit</a>.
Microsoft CEO&nbsp;Satya Nadella&nbsp;shared insights about the transformative impact of AI throughout 2024, <a target="_blank" href="https://www.benzinga.com/24/12/42546621/elon-musk-agrees-as-satya-nadella-reflects-on-ais-global-impact-in-2024-from-cancer-research-to-rainforest-conservation-and-more" rel="noreferrer noopener">with which&nbsp;</a><a target="_blank" href="https://www.benzinga.com/24/12/42546621/elon-musk-agrees-as-satya-nadella-reflects-on-ais-global-impact-in-2024-from-cancer-research-to-rainforest-conservation-and-more" rel="noreferrer noopener">Elon Musk</a><a target="_blank" href="https://www.benzinga.com/24/12/42546621/elon-musk-agrees-as-satya-nadella-reflects-on-ais-global-impact-in-2024-from-cancer-research-to-rainforest-conservation-and-more" rel="noreferrer noopener">&nbsp;agrees</a>.
Elon Musk&nbsp;has once again expressed his disapproval of hashtags on&nbsp;X, formerly&nbsp;Twitter, describing <a target="_blank" href="https://www.benzinga.com/general/social-media/24/12/42547615/elon-musk-reiterates-hashtags-are-ugly-and-useless-on-x-even-though-ceo-linda-yaccarino-tried-to-make-them-trendy-again" rel="noreferrer noopener">them as "ugly" and redundant</a>.
Artificial Intelligence (AI)
Marc Andreessen&nbsp;has lauded&nbsp;OpenAI's Sora&nbsp;video model, suggesting it may have resolved a<a target="_blank" href="https://www.benzinga.com/tech/24/12/42501018/marc-andreessen-praises-openais-sora-video-model-we-may-have-basically-just-solved-the-fundamental-challenge-of-robotics" rel="noreferrer noopener"> significant challenge in robotics</a>.
OpenAI&nbsp;announced that it is extending the&nbsp;ChatGPT Search&nbsp;engine to all users, including those on the free tier. The AI search engine was initially <a target="_blank" href="https://www.benzinga.com/tech/24/12/42523020/chatgpt-search-goes-free-openai-challenges-googles-unbroken-search-dominance" rel="noreferrer noopener">launched for paid subscribers in October</a>.
Mondelez International&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>) has been leveraging AI to speed up recipe development<a target="_blank" href="https://www.benzinga.com/24/12/42545590/oreo-ai-cookie-magic-how-mondelez-is-using-tech-to-whip-up-snack-perfection" rel="noreferrer noopener"> and improve flavor profiles</a>.
Grammarly Inc.&#8217;s acquisition of Coda has received a thumbs-up&nbsp;from&nbsp;LinkedIn&nbsp;co-founder&nbsp;Reid Hoffman.&nbsp;The writing assistant company will now be led <a target="_blank" href="https://www.benzinga.com/tech/24/12/42546973/grammarly-acquires-coda-linkedin-co-founder-reid-hoffman-applauds-move" rel="noreferrer noopener">by the new CEO,&nbsp;</a><a target="_blank" href="https://www.benzinga.com/tech/24/12/42546973/grammarly-acquires-coda-linkedin-co-founder-reid-hoffman-applauds-move" rel="noreferrer noopener">Shishir Mehrotra</a>.
OpenAI&nbsp;has unveiled a new feature that lets users call&nbsp;ChatGPT&nbsp;for free, offering a 15-minute call per month through the <a target="_blank" href="https://www.benzinga.com/24/12/42569479/openai-takes-a-page-from-googles-2007-playbook-by-turning-phones-into-an-ai-hotline-with-toll-free-number-1-800-chatgpt" rel="noreferrer noopener">toll-free number&nbsp;</a><a target="_blank" href="https://www.benzinga.com/24/12/42569479/openai-takes-a-page-from-googles-2007-playbook-by-turning-phones-into-an-ai-hotline-with-toll-free-number-1-800-chatgpt" rel="noreferrer noopener">1-800-CHATGPT</a>.
Read: <a target="_blank" href="https://www.benzinga.com/24/12/42553029/apples-iphone-16-stumbles-on-intelligence-awareness-but-pro-max-shines-bright-says-analyst" rel="noreferrer noopener">Apple&#8217;s iPhone 16 Stumbles On &#8216;Intelligence&#8217; Awareness, But Pro Max Shines Bright: Analyst</a>
Perplexity AI, backed by&nbsp;Amazon.com Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) founder&nbsp;Jeff Bezos,&nbsp;secured $500 million in funding&nbsp;led by Institutional Venture Partners, <a target="_blank" href="https://www.benzinga.com/tech/24/12/42570376/jeff-bezos-backed-perplexity-raises-500-million-tripling-its-valuation-to-9-billion-as-competition-with-google-and-openai-heats-up" rel="noreferrer noopener">tripling its valuation to $9 billion</a>.

AMZN

MDLZ

MSFT

NVDA

Citigourp Global Markets 2% Protected Notes Linked To The Djia

SSNLF

TCEHY

Instagram Concerned About Challenge In Distinguishing Real And AI-Generated Images, Apple To Launch Foldable iPhone By 2026 & More: Consumer Tech News (December 16-20)

Bill Ackman once sought insights from Berkshire Hathaway's chairman Warren Buffett about the investment appeal of the Salomon Brothers.
What Happened: At the 1994 Berkshire Hathaway annual meeting, Ackman, then a young hedge fund manager, raised a critical question about Salomon Brothers.
He directed his question to Buffett, asking, "What is the appeal of the business to you, given its leverage of 30-to-1 and relatively modest returns on equity?"
Buffett responded thoughtfully, acknowledging the high leverage involved but underscoring the importance of leadership in managing such risks.
The Oracle of Omaha praised the efforts of Salomon&#8217;s leaders, including Deryck Maughan, Bob Denham, and John McFarlane, who navigated the company through challenging times without prior discussions on compensation or guarantees.
See Also: <a href="https://www.benzinga.com/24/12/42545936/samsung-galaxy-s25-ultra-and-s25-leaks-show-off-sleek-curved-design-and-slimmer-bezels-than-apples-iphone-16-pro-max?itm_source=parsely-api">Samsung Galaxy S25 Ultra And S25+ Leaks Feature Sleek Curved Design And Slimmer Bezels Than Apple&#8217;s iPhone 16 Pro Max</a>
&#8220;The test will be whether they control the business in a way that leverage doesn't prove dangerous,&#8221; Buffett stated, noting that businesses using significant leverage should expect higher returns on equity, given the inherent risk, but that successful management of that risk was paramount.
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Why It Matters: Salomon Brothers, founded in 1910, was a major player on Wall Street, renowned for its fixed-income trading.
In 1987, the bond trading firm revealed a $70 million loss from debt related to its junk bond trading activities. This set off a chain of events that contributed to the 1987 market crash, although other factors also played a role in the market&#8217;s downturn.
Salomon traders were caught submitting fraudulent bids for Treasury bonds in violation of trading regulations.
Just before the scandal, Buffett had invested $700 million in Salomon Brothers. The controversy resulted in a loss of one-third of his investment.
To restore order during the turmoil, Buffett took control of the company for nine months, methodically removing those involved in the scandal.
By the time the firm was stabilized, it had been sold to&nbsp;Travelers Companies Inc.&nbsp;Buffett had&nbsp;walked away with a substantial profit, as his <a href="https://www.benzinga.com/news/16/09/8483241/warren-buffett-weathered-the-salomon-brothers-scandal-whats-that-mean-for-wells-f">investment had more than doubled</a>.
Travelers Group merged Salomon Brothers with Smith Barney, creating Salomon Smith Barney, which later became part of Citigroup following the 1998 merger between Travelers and Citicorp.
Over time, Citigroup integrated and eventually dismantled the Salomon Smith Barney brand. By the mid-2000s, Salomon Brothers ceased to exist as a standalone entity.
Read Next:
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<li><a href="https://www.benzinga.com/tech/24/12/42547442/microsof-scoops-up-485000-nvidia-ai-chips-twice-as-many-as-its-closest-rival-meta-report?itm_source=parsely-api">Microsoft Scoops Up 485,000 Nvidia AI Chips, Twice As Many As Its Closest Rival Meta: Report</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photos courtesy: Wikimedia and Shutterstock

Bill Ackman Once Asked A $700 Million Question To Warren Buffett On Leverage. The Oracle Of Omaha's Response Shows Where He Places Trust When He Invests In A Company

On Friday, the U.S. Food and Drug Administration approved Eli Lilly and Co.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) weight loss drug Zepbound for treating sleep apnea
What Happened: The FDA&#8217;s decision makes Zepbound the first approved drug treatment for patients with obesity and moderate-to-severe obstructive sleep apnea, or OSA.
&#8220;Too often, OSA is brushed off as &#8216;just snoring,'&#8221; said Julie Flygare, CEO of Project Sleep, in Eli Lilly&#8217;s press release. The condition affects an estimated 80 million Americans, with 20 million experiencing moderate-to-severe forms.
See Also: <a href="https://www.benzinga.com/24/12/42291702/obesity-drug-wars-heat-up-amgen-challenges-eli-lilly-novos-dominance">Weight Loss Drug Wars Heat Up: Amgen Challenges Eli Lilly, Novo&#8217;s Dominance</a>
In a separate release, the FDA underscored that Zepbound should be used in conjunction with a reduced-calorie diet and increased physical activity for optimal results.
The approval could significantly impact insurance coverage for Zepbound, potentially including Medicare, which currently restricts coverage for obesity drugs unless approved for additional health benefits, <a href="https://www.cnbc.com/2024/12/20/fda-approves-eli-lillys-weight-loss-drug-zepbound-for-sleep-apnea.html">noted</a> CNBC.
This development also gives Eli Lilly an edge over competitor Novo Nordisk (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>), whose Wegovy isn&#8217;t approved for sleep apnea treatment.
Why It Matters: Zepbound's effectiveness was demonstrated in clinical trials. Results showed that nearly half of patients treated with the highest dose experienced disease resolution, the report noted.
This was defined by a significant reduction in their apnea-hypopnea index (AHI), a key metric in diagnosing OSA.
The approval also comes as Eli Lilly continues to <a href="https://www.benzinga.com/24/12/42370795/investments-in-eli-lillys-production-capabilities-reaches-23-billion-with-additional-3-billion-expansion-at-us-facility">expand its manufacturing capabilities</a>, including a $3 billion investment in Kenosha County, Wisconsin in December, to meet the growing demand for its diabetes and obesity medicines.
In October, Eli Lilly reported <a href="https://www.benzinga.com/general/biotech/24/10/41622207/eli-lilly-q3-earnings-mounjaro-sales-more-than-double-takes-2-98-billion-hit-to-profit-cuts-annua">third-quarter revenue</a> of $11.44 billion, a 20% increase year-over-year, but missed expectations of $12.10 billion. Zepbound generated $1.26 billion.
Price Action: As per <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, LLY shares increased by 1.35% to $767.76 on Friday. So far this year, LLY has risen by 29.65%.
The latest ratings from B of A Securities, Wolfe Research, and Deutsche Bank set an average price target of $1,004, indicating a potential upside of 30.77%.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/LLY/analyst-ratings"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/21033911/Screenshot-2024-12-21-at-2.09.01%E2%80%AFPM-1024x374.png" alt="" class="wp-image-702686" /></a></figure>
Read Next:
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<li><a href="https://www.benzinga.com/general/biotech/24/10/41318886/eli-lillys-alzheimers-drug-raises-hopes-but-faces-regulatory-hurdles-in-europe">Eli Lilly&#8217;s Alzheimer&#8217;s Drug Raises Hopes but Faces Regulatory Hurdles in Europe</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Health Care

Eli Lilly's Zepbound Receives FDA Approval For Obesity-Linked Sleep Apnea Drug

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk has been accused by Rosa DeLauro of pressuring Republicans to abandon key U.S.-China investment restrictions to safeguard the EV giant's business interests in China.
What Happened: In a letter on Friday, DeLauro, the top Democrat on the House Appropriations Committee, stated that Musk used his influence to have Republicans scrap provisions aimed at regulating U.S. investments in China, reported Reuters.
She pointed to Musk's "extensive investments in China in key sectors" and alleged ties to Chinese Communist Party or CCP leadership.
The controversy centers on Tesla's Shanghai gigafactory, which produces about 50% of Tesla's global automobile output.
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DeLauro argued that Musk's actions jeopardized critical legislation to safeguard U.S. supply chains and national security, accusing him of &#8221; bullying Republicans into going back on their words."
Musk, in turn, criticized DeLauro on X, formerly Twitter, calling for her expulsion from Congress.
<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">This awful creature needs to be expelled from Congress! Ugh …
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1870233561753633123?ref_src=twsrc%5Etfw">December 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Tesla has seen robust sales in China, bolstered by strong demand for its Model Y and Model 3 vehicles. In November, <a href="https://www.benzinga.com/markets/equities/24/12/42438591/teslas-china-sales-recover-model-y-accounts-for-over-60-of-november-sales">Tesla's retail sales in China</a> reached 73,490 units, showing a significant recovery from earlier challenges in 2024.
The EV giant also faces stiff competition from local players like BYD Co., which leads the market, but Tesla's steady increase in weekly insurance registrations—21,900 units in early December—<a href="https://www.benzinga.com/news/global/24/12/42284511/tesla-china-sees-robust-demand-in-q4-with-registrations-up-14-2-yoy-so-far-expert-says-ev-giant-on-track-for-best-quarter-ever">signals growing momentum</a>.
Tesla reported <a href="https://www.benzinga.com/news/earnings/24/10/41501607/tesla-q3-earnings-highlights-eps-beat-revenue-miss-shares-climb-on-2025-timeline-for-lower-cost-evs">third-quarter revenue</a> of $25.18 billion marking an 8% year-over-year growth. While the company missed Wall Street estimates, automotive revenue reached $20 billion, up 2% year-over-year.
DeLauro's accusations highlight broader concerns about the risks of U.S. investments in Chinese technology sectors. October rules finalized by the Treasury Department aim to limit such investments in critical areas like artificial intelligence to protect national security.
However, the removal of provisions for outbound investment screening could leave gaps in safeguarding U.S. interests.
Price Action: Tesla&#8217;s stock declined by 3.46% on Friday, ending the session at $421.06. Despite this drop, the company's shares have surged 69.5% since the start of the year, significantly outpacing the Nasdaq 100 index, which has gained 28.68% over the same period, according to <a href="http://pro.benzinga.com/">data from Benzinga Pro</a>.
The latest ratings from Baird, Mizuho, and Goldman Sachs have established an average price target of $446.67, suggesting an upside potential of 5.53%.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/TSLA/analyst-ratings"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/21024505/Screenshot-2024-12-21-at-1.14.58%E2%80%AFPM-1024x374.png" alt="" class="wp-image-702681" /></a></figure>
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Politics

Elon Musk Accused Of Bullying Republicans To Scrap US-China Investment Safeguards To Protect Tesla's Interests

Now that Selena Gomez and Benny Blanco are engaged – just 18 months after they started dating – they'll have to decide which of the bride's mansions they'll call home.
In a post captioned "Forever begins now," the <a href="https://www.benzinga.com/general/entertainment/24/09/40758541/selena-gomez-enters-billionaire-club-thanks-to-rare-beautys-triumph">32-year-old singer</a> shared her happy news on Instagram, posting photos showing her embracing her fiance while showing off her diamond ring, according to The New York Post.
Gomez and Blanco, a renowned record producer, began dating in 2023 after years of collaborating on various music projects. Their partnership eventually evolved into a romantic relationship.
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Since the start of their relationship, Gomez, a former Disney star, has reached new heights professionally. This fall, she joined the exclusive billionaire club, largely thanks to the success of her <a href="https://www.benzinga.com/general/social-media/24/04/38113933/serena-williams-launches-a-new-company-that-shes-been-working-on-for-6-years">Rare Beauty</a> brand, now valued at $2 billion.
Gomez continues to dominate on social media, becoming the most-followed woman on Instagram with 423 million followers.
With their engagement now official, the couple must decide which of their mansions will serve as their marital home.
Read on to see their options.
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<h2 class="wp-block-heading">Encino</h2>
In 2020, Gomez purchased a Southern California property once owned by fellow musician Tom Petty for $4.9 million.
The 9,000-square-foot Encino estate, custom-built in 1989, boasts unique features that likely appealed to Gomez. However, Petty moved out after his divorce in 1996. Traces of his legacy remain, including a recording studio and sunken performance space – perfect touches for a singer like Gomez.
The five-bedroom mansion offers soaring ceilings and a gourmet kitchen, while its lower level includes a wine cellar, gym, massage room, creative workspace, additional kitchen, vocal booth, den and a guest suite.
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<h2 class="wp-block-heading">Woodland Hills</h2>
Another potential home for the newly engaged couple is a charming property Gomez purchased in 2017 for $1.8 million.
Built in 1949, the private, gated estate sits on half an acre and spans 3,500 square feet, featuring four bedrooms and four bathrooms. The home boasts hardwood floors, a wood-burning fireplace in the living room and abundant natural light.
The modern kitchen includes Wolf appliances and quartz countertops, while the family room features a home theater, wood-beamed ceilings and built-ins. The primary suite offers a spacious walk-in closet, a cozy fireplace and a spa-like bathroom with a rainfall shower and jetted tub.
The outdoor amenities are just as impressive, with a pool, fire pit and outdoor kitchen.
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<h2 class="wp-block-heading">New York City</h2>
Blanco, a songwriter and producer known for collaborating with stars like Katy Perry, Justin Bieber and Ed Sheeran, has been trying to sell his New York City apartment. Blanco, whose real name is Benjamin Joseph Levin, purchased the three-bedroom Chelsea loft in 2011 for $3.4 million.
Initially listed for nearly $4 million in May, the property has seen a price reduction to $3.75 million after failing to attract buyers. The fully renovated condo is in a coveted corner location and has 11-foot ceilings and southeast-facing windows that flood the space with light.
The compact kitchen with a breakfast bar opens seamlessly to the main living area. The building&#8217;s residents enjoy an array of amenities, including 24/7 door attendants, concierge services, a gym, a roof deck and a children's playroom.
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Real Estate

Selena Gomez And Benny Blanco To Tie The Knot, But Which Mansion Will Be Home Sweet Home?

Regarding selling luxury cars, brands like Ferrari (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RACE#NYSE">RACE</a>), Rolls-Royce and Maserati use strategies that are as extravagant as their vehicles. These automakers know how to make their cars irresistible – and sometimes even make their customers feel like they're getting a deal when doing the company's work for them.
Take Ferrari, for instance. A prominent marketing expert, Rory Sutherland, <a href="https://www.youtube.com/watch?v=vcjAFJu39Ok">pointed out</a> how the brand has devised a smart way to shift delivery costs onto its customers while framing it as an exclusive experience. The company can deliver a Ferrari to your local dealership for free if you buy it. But for around £500 ($630), you can opt for a &#8220;factory tour&#8221; in Maranello, Italy, where you pick up your car and drive it home at your own cost.&nbsp;
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Customers willingly pay to collect their cars because the experience is marketed as a unique privilege. It looks like a brilliant psychological play that makes customers feel special while cutting Ferrari's costs.
Meanwhile, according to Sutherland, Rolls-Royce and Maserati took a different approach to make their luxury cars seem like impulse buys. Instead of showcasing their vehicles at traditional car shows – where their high price tags stand out – they moved to yacht and private jet shows. The logic? If you've spent all day looking at multimillion-dollar yachts and jets, a $250,000 car suddenly feels like a much smaller expense – an impulse buy.
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Ferrari is also <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39935966/ferrari-revs-up-crypto-payments-in-europe-expanding-on-us-success">making bold moves into cryptocurrency payments</a>. After successfully rolling out crypto payments in the U.S., the brand expanded the option to Europe in July. Partnering with BitPay, Ferrari now accepts Bitcoin, Ethereum and USD Coin for its cars, instantly converting the payments to traditional currency. According to the company&#8217;s representative, this was done in response to consumer demand and to suit the tastes of their affluent, tech-savvy audience. By the end of 2024, Ferrari plans to offer crypto payments globally where legally permitted.
Ferrari isn't stopping there. The brand is gearing up to <a href="https://www.benzinga.com/news/24/05/38984035/ferrari-aims-to-challenge-tesla-with-launch-of-electric-supercar-in-2025">launch its first electric supercar</a> in the fourth quarter of 2025. Ferrari ensures its EVs maintain the brand&#8217;s signature appeal with a new factory in Maranello dedicated to hybrid and electric vehicles and a state-of-the-art lithium battery research lab.
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CEO Benedetto Vigna is reinventing the sound of electric motors to preserve the classic sensory experience of driving a Ferrari. Ferrari is placing a big bet on strong consumer interest across age groups to compete with market leaders like Tesla.
Even as Ferrari accelerates into the future, its financial performance remains strong. The automaker reported an 11% year-over-year sales growth in Q1 2024, bringing in $1.72 billion in revenue. Shipments held steady at 3,560 units and Ferrari is on track for fiscal 2024 net revenues exceeding €6.4 billion.
Whether paying to pick up your car, splurging on a $250,000 vehicle after looking at luxury yachts or buying a Ferrari with Bitcoin, one thing stands out: luxury car brands know how to keep people coming back. They use smart strategies, cool technology and new financial trends to stay ahead in the world of high-end cars.
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RACE

Ferrari Devised A Clever Way To Play Customers, But Rolls-Royce And Maserati Took A Different Route – 'A $250,000 Car Is An Impulse Buy'

<h2 class="wp-block-heading">New On The Block</h2>
Honeywell (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>) is back at it again with big plans and boardroom brainstorms. This time, the Charlotte, North Carolina-based company is considering sending its aerospace business <a href="https://www.benzinga.com/news/asset-sales/24/12/42505835/honeywell-advances-strategic-review-explores-aerospace-business-separation">off to fly solo</a>. Recently, Honeywell unveiled plans to spin off its Advanced Materials business into a standalone public company by late 2025 or early 2026. Additionally, the company is selling its Personal Protective Equipment (PPE) business to Protective Industrial Products for $<a href="https://www.benzinga.com/24/11/42140202/honeywell-to-exit-ppe-business-with-1325-billion-sale-plans-advanced-materials-spinoff">1.325 billion in cash</a>.
Textron Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TXT#NYSE">TXT</a>) has decided it's time to <a href="https://www.benzinga.com/news/guidance/24/12/42558931/textron-hits-the-brakes-on-powersports-strategic-shift-amid-soft-demand">hit the brakes on</a> its Powersports product line, part of the Industrial segment&#8217;s Textron Specialized Vehicles business. The segment manufactures snowmobiles and off-road vehicles under the Arctic Cat label. Deere &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) is rumored to be interested in acquiring it. Textron expects to wrap up its restructuring in the first half of the new year.
DLocal, a Latin American payments provider with a market value of about $3.6 billion, is on the auction block. The Montevideo, Uruguay-based company hired Morgan Stanley to gauge takeover offers from bidders. Private equity firm General Atlantic is DLocal&#8217;s largest shareholder.
<h2 class="wp-block-heading">Updates From The Block</h2>
The European Commission <a href="https://www.benzinga.com/government/regulations/24/12/42621868/nvidia-secures-eu-approval-for-runai-deal-us-probes-china-export-breach">granted unconditional approval</a> for Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) to acquire Run:ai Labs Ltd, an Israel-based provider of GPU orchestration software. The decision under the EU Merger Regulation concluded the acquisition would not raise competition concerns within the European Economic Area. Nvidia aims to integrate Run: ai&#8217;s software into its ecosystem. Run:ai specializes in software that helps organizations optimize and manage their artificial intelligence compute workloads across various environments, including on-premises and cloud platforms.
Soho House's billionaire chairman Ron Burkle wants to whisk the private members' club away from the U.S. stock market. Burkle and his squad of investors have thrown down a flashy <a href="https://www.benzinga.com/24/12/42597812/soho-house-jumps-over-50-on-receiving-acquisition-offer-with-83-premium">$1.8 billion buyout bid</a>, offering $9 per share—a snazzy 83% premium to the stock&#8217;s closing price on Wednesday, Dec. 18. This isn't Soho House's first flirtation with delisting. Just a few months ago, it turned down a mysterious suitor's offer.
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<h2 class="wp-block-heading">Off The Block</h2>
Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) and Woodside Energy Group Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WDS#NYSE">WDS</a>) <a href="https://www.benzinga.com/news/contracts/24/12/42584936/chevron-secures-larger-north-west-shelf-stake-in-asset-swap-400m-payment-to-woodside">finalized an asset swap deal</a> on Wednesday. As part of the agreement, Woodside will transfer its 13% non-operated interest in the Wheatstone Project and its 65% operated interest in the Julimar-Brunello Project in Western Australia. In return, Woodside will acquire Chevron&#8217;s 16.67% stakes in the North West Shelf Project and the NWS Oil Project, along with a 20% interest in the Angel Carbon Capture and Storage Project. Additionally, Chevron will make a cash payment to Woodside of up to $400 million. This includes a $300 million payment at completion, and contingency payments of up to $100 million, tied to the handover of the Julimar Phase 3 Project and subsequent production performance.
<h2 class="wp-block-heading">Bankruptcy Block</h2>
Furnishing and retailer Big Lots Inc.&#8216;s Chapter 11 bankruptcy filing in September and impending store closures could benefit rival Ollie&#8217;s Bargain Outlet Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLLI#NASDAQ">OLLI</a>), JPMorgan analyst Matthew R. Boss says. On Sept. 9, Big Lots filed for Chapter 11 and announced a subsequent sale of its assets to Nexus Capital Management LP. The company&#8217;s stock was subsequently delisted from the New York Stock Exchange. Its third-quarter financial report revealed a company struggling with declining sales, eroding margins and a continual bleeding of cash. On Dec. 19, the Columbus, Ohio-based company said its sale to Nexus Capital fell through, noting it &#8220;continues to work toward completing an alternative going concern transaction with Nexus or another party.&#8221; CEO Bruce Thorn announced a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42624759/big-lots-holds-liquidation-sales-analyst-pegs-competitor-as-major-beneficiary-market-share-capture-opportunity">going-out-of-business sale</a>.
FTX announced that its<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42151412/bankrupt-crypto-exchange-ftx-to-commence-payments-to-customers-creditors-in-early-2025"> Chapter 11 bankruptcy reorganization plan</a> will become effective on Jan. 3, 2025. Customer and creditor distributions will be facilitated through partnerships with cryptocurrency platforms Kraken and BitGo. The first round of distributions is expected to occur within 60 days of the plan's effective date. The initial distribution will cover holders of allowed claims in the Convenience Classes, while timelines for other claim classes will be announced later.
<h2 class="wp-block-heading">Notes From The Block</h2>
Benzinga recently interviewed Tony Roma&#8217;s CEO Mohaimina (Mina) Haque on a variety of topics, including the restaurant chain&#8217;s capital raising initiatives:
<h3 class="wp-block-heading">BZ: What's the global stage look like?</h3>
There's a lot of interest globally. We are in Dubai and Berlin as well as Kuala Lumpur, Malaysia and Perth, Australia. There is a lot of brand awareness. Stateside, as Gen Z and millennials were growing up, there was a decrease in unit size. So, we are working on building that bridge between those who are nostalgic for Tony Roma's and those who haven't experienced it yet. There are challenges, including the supply chain and ensuring that franchise partners uphold our intellectual property.
<h3 class="wp-block-heading">BZ: Is M&amp;A still on the cards?</h3>
It is a possibility. We have parties interested in helping us to expand our global and national footprint. So, it's still in the cards, with either a venture capital or private equity firm. For anyone interested and who wants to see more explosive growth for the company, we are looking for partners capable of heavy capital infusion.
<h3 class="wp-block-heading">BZ: What size investment do you think would you go to ballpark it?</h3>
If I have to ballpark it, maybe somewhere between $10 million and $20 million
For the <a href="https://www.benzinga.com/general/restaurants/24/12/42553401/comfort-food-comeback-how-mina-haque-plans-to-make-tony-romas-sizzle-again">full Q&amp;A, click here</a>.
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Asset Sales

Exclusives

OLLI

Deal Dispatch: Honeywell, Textron And Soho House Are Making M&A Moves

House conservatives are pressuring Speaker Mike Johnson after a rocky week of negotiations and <a href="https://www.benzinga.com/markets/equities/24/12/42624528/government-shutdown-threat-stocks-wobble-holiday-travel-and-paychecks-could-face-delays-what-you-need-to-know" target="_blank" rel="noreferrer noopener">infighting over a government spending bill</a>.
Johnson, who narrowly avoided a government shutdown, now faces intense scrutiny from his party with a speakership vote looming in two weeks, <a href="https://www.politico.com/news/2024/12/20/johnson-unsteady-speakership-time-00195784" target="_blank" rel="noreferrer noopener">reports</a> Politico.
The Louisiana Republican is caught between President-elect Donald Trump, Elon Musk, and the right wing of his party, and many in his conference are not satisfied with his leadership.
A few members have already vowed to oppose him, and others are openly questioning his ability to lead, especially after the contentious spending battle.
The conflict over the spending bill put Johnson at odds with several key figures, including Trump, who publicly criticized the funding plan before Johnson switched strategies.
Critics, including members of the Freedom Caucus, expressed frustration over the lack of communication and poor handling of the bill. Rep. Nicole Malliotakis (R-N.Y.), a moderate, described the leadership&#8217;s actions as &#8220;completely unacceptable&#8221; and said there was &#8220;zero communication&#8221; between the leadership and members, Politico adds.
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Others, like Rep. Andy Biggs (R-Ariz.), have vowed to wait until January 3 to announce how they will vote on Johnson's speakership, reflecting the uncertainty about his future in the role.
Johnson did manage to get the spending bill passed with a relatively small number of defections, but the damage to his credibility may be long-lasting.
The incident has become a test of his ability to manage the fractious Republican conference, especially as the party looks to push ambitious legislation on the border and energy early in the new Congress, the report reads.
For many Republicans, Johnson's handling of this crisis will set the tone for how he leads in the future.
Some members believe Johnson still has a chance to rebuild his support, though the challenge remains formidable. If the situation doesn't improve, Johnson may face a leadership challenge, with names like Jim Jordan and Tom Emmer being floated as potential replacements.
Despite the turmoil, Johnson does have some allies, particularly within the House Freedom Caucus, who appreciate his fight to implement the Trump agenda.
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Johnson Averts Shutdown But Faces Growing Pressure From Right

Peter Buffett, son of billionaire investor&nbsp;Warren Buffett, made a life-changing decision 47 years ago when he traded his inheritance to &#8220;buy time." Although he missed out on what would have been hundreds of millions of dollars in profit, he <a href="https://www.benzinga.com/topic/warren-buffett">stands by his decision</a>.
Finding His Path:&nbsp;At 19, Buffett received a portion of the proceeds from the sale of his grandfather's farm, which his father invested in Berkshire Hathaway Inc. (NYSE:&nbsp;<a href="https://www.benzinga.com/stock/brk-a#NYSE">BRK-A</a>) (NYSE:&nbsp;<a href="https://www.benzinga.com/stock/brk-b#NYSE">BRK-B</a>), amounting to $90,000, according to&nbsp;<a href="https://www.cnbc.com/2020/05/07/warren-buffett-son-doesnt-regret-spending-berkshire-stock-he-got-at-19-worth-200-million-now.html?utm_campaign=trueanthem&amp;utm_medium=social&amp;utm_source=facebook&amp;fbclid=IwAR2ltNtAQUUEhAViImalKNS2NdjCrlgyZxhj00Z4cr2TZQJm1mqBy-thwSY">CNBC</a>. His father made it clear that this was all the financial support he would receive for personal use. Despite knowing it was his entire inheritance, Peter sold his Berkshire stock to fund his passion for music.
Buffett dropped out of Stanford University, purchased a modest studio apartment in San Francisco, and invested in upgrading his recording equipment. He dedicated his time to honing his piano and music production skills.
His big break came unexpectedly when a neighbor asked him about his profession, setting him on the path to a successful career in music.
He told the neighbor that he was a "struggling composer" and the neighbor offered to introduce him to his son-in-law who was an animator looking for ad tunes for a new cable station — it turned out to be&nbsp;<a href="https://www.benzinga.com/topic/mtv">MTV</a>.&nbsp;
Buffett is now 66 years of age and has released around 15&nbsp;studio albums over his successful career.&nbsp;
See Also:&nbsp;<a href="https://www.benzinga.com/personal-finance/24/12/42558080/warren-buffett-says-the-poorest-2-of-earners-live-better-than-john-d-rockefeller-richest-man-in-the-world-people-have-more-money-now">Warren Buffett Says The Poorest 2% Of Earners Live Better Than John D. Rockefeller – Richest Man In The World: &#8216;People Have More Money Now&#8217;</a>
The Path Not Taken:&nbsp;If the son of the legendary investor would have stayed in college and held onto his $90,000&nbsp;investment in Berkshire Hathaway, it would be worth over $400 million today.&nbsp;
"But I didn&#8217;t make that choice and I don&#8217;t regret it for a second.&nbsp;I used my nest egg to buy something infinitely more valuable than money: I used it to&nbsp;<a href="https://www.benzinga.com/news/23/04/31687018/couple-uses-huge-airbnb-profits-to-buy-time-they-only-spend-1-hour-working-per-week">buy time</a>," Buffett said.&nbsp;
That's a decision that his father would be proud of, he noted. The&nbsp;<a href="https://www.benzinga.com/topic/billionaires">billionaire</a>&nbsp;taught his son that work isn't about making as much money as possible, instead it's about doing something that you love to do.
Buffett acknowledged that the money was a privilege, calling it a gift that he had not earned.
&#8220;Without those hundreds of unpaid hours spent fiddling with my recording gear, I would not have found my sound or approach," Buffett said.&nbsp;
The musician used the money to buy time to pursue something that he enjoys waking up and doing&nbsp;each day, which is exactly what his father tells young people to do. The billionaire has previously recommended that people pursue careers they would want even if money was not part of the&nbsp;<a href="https://www.benzinga.com/news/23/03/31592697/if-you-want-to-move-forward-and-make-better-decisions-you-need-to-remember-these-3-words">decision-making process</a>.&nbsp;
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<li><a href="https://www.benzinga.com/news/24/12/42597180/even-in-2023-charlie-munger-said-elon-musk-overestimates-himself-but-credited-his-success-to-one-key-factor">Even in 2023, Charlie Munger Said &#8216;Elon Musk Overestimates Himself&#8217; But Credited His Success to One Key Factor</a></li>
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This story is part of a new series of features on the subject of success,&nbsp;<a href="https://www.benzinga.com/topic/benzinga-inspire">Benzinga Inspire</a>.&nbsp;Some elements of this story were previously reported by Benzinga and it has been updated.
Photo: Shutterstock

Warren Buffett's Son's $90K Inheritance Would Be Worth More Than $400 Million Today, But He Sold His Berkshire Stock 47 Years Ago To Buy Something 'Infinitely More Valuable'

Google (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) has reduced its top management roles by 10% as part of a multi-year effort to streamline operations <a href="https://www.benzinga.com/news/23/09/34392201/google-salary-leak-reveals-mind-blowing-earnings-top-engineers-make">and boost efficiency</a>.
What Happened: On Wednesday, CEO Sundar Pichai revealed during an all-hands meeting that the move reflects Google&#8217;s broader push to simplify its structure and adapt to a rapidly evolving tech landscape.
According to employees who attended the meeting, Pichai explained that the efficiency drive included changes to managerial, director, and vice president roles. 
Some positions were restructured to nonmanagerial roles, while others were eliminated entirely. The changes align with Pichai's 2022 statement that he wanted the company to become "20% more efficient," a goal that resulted in 12,000 layoffs in January of this year. 
According to the report <a href="https://www.businessinsider.com/google-ceo-company-cut-manager-vp-roles-2024-12">by</a> Business Insider, Google&#8217;s pursuit of efficiency comes as competition intensifies in the artificial intelligence space, with rivals like OpenAI launching products that challenge Google's dominance in search.
Also Read: <a href="https://www.benzinga.com/tech/24/12/42378596/openais-chatgpt-makes-headway-in-search-threatening-googles-reign">OpenAI&#8217;s ChatGPT Makes Headway In Search, Threatening Google&#8217;s Reign</a>
In response, Google has infused generative AI into its core services and unveiled innovations such as a new AI video generator and its Gemini AI models, including a "reasoning" model designed to showcase its thought process.
During the meeting, Pichai also addressed Google's cultural identity, discussing the term &#8220;Googleyness,&#8221; which he said needed an update to reflect the company&#8217;s modern values and direction. 
The term has long been associated with Google's work culture, and its evolution signals the company's commitment to staying relevant in a rapidly changing industry.
As Google continues its efficiency drive and AI innovation efforts, it remains a key player in shaping the future of technology while adapting its structure and culture for the challenges ahead.
Read Next
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

GOOGL

Google Announces Major Layoffs As Pichai Stresses Efficiency

Peter Lynch, a renowned investor and former fund manager of the Magellan Fund at Fidelity Investments, achieved a legendary compound annual return of 29% during the 1980s. 
What Happened: In a 1997 <a href="https://www.youtube.com/watch?v=myu4Nv0pt0U">speech</a>, Lynch shared key principles from his 25-year career that guided his success. He emphasized that these principles were timeless, applicable then, now, and for decades to come. Below are three of his essential investing lessons.
Lynch advises against bias towards specific stocks or industries. He emphasizes that great investment opportunities can be found in unexpected places, including companies facing bankruptcy or skepticism. 
&#8220;There are great stocks everywhere, even those in bankruptcy or close to it. Often times great investments are the ones where everyone else will think you are crazy,&#8221; Lynch said during his speech. 
Also Read: <a href="https://www.benzinga.com/markets/24/12/42499608/investment-guru-peter-lynch-if-you-cant-explain-to-an-11-year-old-in-2-minutes-or-less-why-you-own-t">Investment Guru Peter Lynch: &#8216;If You Can&#8217;t Explain To An 11-Year-Old In 2 Minutes Or Less Why You Own The Stock, You Shouldn&#8217;t Own It&#8217;</a>
Lynch recommends documenting the reasons for purchasing a stock. If those reasons no longer apply due to changes in the company's story, it may be time to sell. &#8220;When the story changes, the investment thesis changes,&#8221; he asserts.
A critical point Lynch underscores is that a stock dropping significantly doesn't mean it won't fall further. &#8220;Stocks can always go lower,&#8221; he warns, citing the example of Polaroid, which plummeted from $140 to $18 over nine months. He also cautions against assuming stocks will rebound solely because they've declined.
&#8220;Stocks also don't have to bounce back just because they went down,&#8221; he added. 
Why It Matters: These principles highlight Lynch's disciplined and thoughtful approach to investing, which continues to inspire investors today.
Lynch's principles offer timeless guidance for investors at all levels, from beginners to seasoned professionals. His focus on deeply understanding the business, prioritizing individual stock analysis, and exercising patience mirrors the strategies of legendary investors like Warren Buffett.
These insights serve as a powerful reminder that true success in investing comes not from chasing short-term gains but from making well-informed decisions and committing to a long-term
Read Next
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Stock Split

Investment Guru Peter Lynch: 'Often Great Investments Are The Ones Where Everyone Else Will Think You Are Crazy'

Mary Trump, niece of President-elect Donald Trump and one of his most vocal critics, has issued a stark warning about what to expect from her uncle's second administration. 
What Happened: Speaking on the podcast by The Daily Beast, Mary Trump referred to the upcoming presidency as a "regime" and described it as more dangerous than his first term.
During <a href="https://www.thedailybeast.com/why-trumps-niece-is-even-more-afraid-for-his-second-term/">the</a> interview, Mary Trump argued that the incoming administration, which she described as a "lame duck," will see Donald Trump "unleashed" because he will not face the pressures of reelection.
"He's not running for reelection. He doesn't have to play any games. He doesn't have to stay within the lines," she said, emphasizing that the lack of accountability could lead to more extreme policies and actions.
She said, &#8220;Trump&#8217;s presidency already is more dangerous than the first one as we see by his appointments and his nominations to key positions in the executive branch and then Cabinet positions."
Also Read: <a href="https://www.benzinga.com/news/24/12/42497190/mary-trump-slams-uncle-over-anti-birthright-citizenship-stance-a-deeply-ignorant-cruel-man">Mary Trump Slams Uncle Over Anti-Birthright Citizenship Stance: &#8216;A Deeply Ignorant, Cruel Man&#8217;</a>
She pointed to Trump's controversial Cabinet and executive branch nominations as evidence of the potential dangers. 
These include Pete Hegseth, a Fox News personality tapped for the Pentagon, and anti-vaccine advocate Robert F. Kennedy Jr., who has been nominated to lead the Department of Health and Human Services. 
Mary Trump characterized these appointments as alarming signs of the administration's direction.
"The most depressing thing," she said, "is that everybody in corporate media, everybody in the Republican Party, and a significant percentage of Donald's voters knew it was going to be more dangerous, and yet, here we are."
Mary Trump's comments underscore concerns among critics about the implications of Donald Trump's second term, which they believe could dramatically reshape key aspects of governance and policy.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Wikimedia Commons

Mary Trump's Warning: Donald Trump's Second Term 'Already Is More Dangerous Than the First'

As <a href="https://www.benzinga.com/news/global/24/11/41857278/iranian-plot-against-trump-unveiled-as-tensions-with-us-grow">political tensions</a> rise in the United States, a unique opportunity is catching the attention of election-weary travelers. Villa Vie Residences, a Florida-based cruise company, offers a multiyear global adventure aboard its luxury vessel, the Villa Vie Odyssey. Dubbed the "Skip Forward" program in a press release from Villa Vie, the cruise is part of a 15-year worldwide journey that allows travelers to hop on or off at various ports, providing a way to "escape from reality."
<h2 class="wp-block-heading">A Floating Escape</h2>
Villa Vie's "Skip Forward" program offers a four-year continuous voyage to over 425 ports in 140 countries across all seven continents. Villa Vie's website lists prices starting at $159,999 per person for a four-year double-occupancy cabin, with options for shorter durations. Travelers seeking more affordable arrangements can book smaller segments of the "hop on hop off" cruise – a few months out of the planned itinerary – for anywhere from $8,344 and up. Alternatively, the premium double-occupancy ocean-view cabins total $350,000 for the full four-year term.
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Villa Vie's website also lists that the program includes accommodations, meals, housekeeping, <a href="https://www.benzinga.com/news/24/09/41061483/spacexs-starlink-now-connects-4m-customers-with-more-than-6k-operational-satellites-adds-a-million-u">high-speed Starlink internet</a> and even limited alcoholic beverages during dinner. Guests also enjoy wellness classes, fitness facilities and opportunities to invite friends or family to join for $129 per day. Villa Vie touts the cruise as an "all-inclusive" lifestyle, eliminating concerns about hidden fees or additional taxes.
<h2 class="wp-block-heading">Highlights of the Itinerary</h2>
The Odyssey's route promises an immersive exploration of global wonders. Currently sailing through the Caribbean, the ship will conclude the year in Guayaquil, Ecuador, before embarking on a four-month South American tour. Highlights include transits through the Panama Canal, a visit to Rio de Janeiro's Carnival and an eight-day journey along the Amazon River. Travelers will also experience iconic landmarks such as the Chilean Fjords and a sail-by of Antarctica.
According to Mikael Petterson, CEO of Villa Vie Residences, the program was conceived before the recent <a href="https://www.benzinga.com/content/42444997/biden-harris-and-trump-campaigns-responsible-for-more-than-6-billion-ad-impressions-combined-on-meta">U.S. presidential election</a>. "Quite frankly, we don't have a political view one way or the other," Petterson told Newsweek. "We just wanted to give people who feel threatened a way to get out."
See Also: The global games market is projected to generate $272B by the end of the year —<a href="https://www.benzinga.com/money/gameflip"> for $0.55/share, this VC-backed startup with a 7M+ userbase gives investors easy access to this asset market.</a>
<h2 class="wp-block-heading">A Rising Trend in Extended Travel</h2>
Villa Vie's offer is part of a broader trend among travel companies responding to <a href="https://www.benzinga.com/personal-finance/24/11/42023971/after-the-election-americans-are-exploring-life-abroad-but-what-are-the-financial-costs">heightened interest in leaving the U.S.</a> following the recent election. Google searches for phrases like "how to move" and "work visa" surged by more than 500% after Election Day, reminiscent of similar spikes after the 2016 election. While few Americans make permanent moves abroad – data from CNN shows that only about 2,000 applied for residency in Canada after the 2016 election – the growing availability of digital nomad visas and extended travel options offers alternative avenues for long-term escapes.
The "Skip Forward" program aligns with these trends, positioning itself as a cost-effective alternative to urban living. According to The Street, the annual cost of the cruise is comparable to or less than renting in cities like New York or Los Angeles.&nbsp;
"Your villa is your bedroom and the ship is your home," said Anne Alms, Villa Vie's Head of Sales, in Villa Vie's press release. "She'll take you across the globe to endless horizons."
Trending: It&#8217;s no wonder Jeff Bezos holds over $70 million in art — <a href="https://www.benzinga.com/money/masterworks">this alternative asset has outpaced the S&amp;P 500 since 1995, delivering an average annual return of 11.4%. Here&#8217;s how everyday investors are getting started.</a>
<h2 class="wp-block-heading">Flexibility and Adventure</h2>
Villa Vie's emphasis on flexibility allows travelers to customize their experience. Whether booking a one-year "Escape from Reality" or committing to the full four-year "Skip Forward," passengers can join or leave the cruise at various ports. The company highlights this adaptability as a key feature of its offering, making it a compelling option for those seeking adventure and comfort.
As the Villa Vie Odyssey continues its 15-year global journey, its promise of cultural immersion and hassle-free living appeals to those eager to explore the world or leave behind the political stresses of home. Prospective adventurers can contact Villa Vie Residences or visit their website to book a consultation.
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Startups

'Skip Forward': Cruise Company Markets $159K 4-Year World Tour To Election-Weary Travelers

The alleged murderer of UnitedHealth Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) CEO Brian Thompson has been transferred to the Metropolitan Detention Center in Brooklyn, New York. 
What Happened: The detention facility is also home to high-profile inmates, including convicted crypto fraudster Sam Bankman-Fried, who is serving a 25-year sentence for his role in the collapse of the FTX cryptocurrency exchange.
Luigi Mangione, 26, is accused of planning and executing the fatal shooting of Thompson on December 4 in New York City. The public murder shocked the city and sparked a days-long manhunt before Mangione was arrested at a McDonald's in Altoona, Pennsylvania. Prosecutors allege Mangione planned the attack for months, motivated by his disdain for the U.S. healthcare system. 
According to the report <a href="https://apnews.com/article/unitedhealthcare-ceo-killing-luigi-mangione-4cc18cfa71b96aaa39b321f60145d2f0">by</a> the Associated Press, Mangione now shares the Metropolitan Detention Center with Bankman-Fried, whose fraudulent management of FTX led to the crypto platform's bankruptcy in November 2022, wiping out billions of dollars.
The jail has also recently housed music producer Sean "Diddy" Combs, who faces racketeering and sex trafficking charges. Combs reportedly shared space with Bankman-Fried and used one of the disgraced crypto mogul's attorneys, according to court filings.
Also Read: <a href="https://www.benzinga.com/markets/24/12/42512814/luigi-mangione-lived-a-privileged-life-of-real-estate-wealth-before-arrest-in-ceo-case">Luigi Mangione Lived a Privileged Life Of Real Estate Wealth Before Arrest In CEO Case</a>
Bankman-Fried's fall from grace came after FTX, once a leading cryptocurrency exchange, went bankrupt due to what prosecutors called criminal mismanagement. The platform had allowed users to trade digital coins and tokens, but its rapid collapse left many investors in financial ruin.
Meanwhile, Mangione faces charges of premeditated murder, with prosecutors painting him as a calculated individual whose actions stemmed from long-standing contempt for the healthcare industry. 
As the case unfolds, Mangione's transfer to the Brooklyn jail adds another layer of intrigue to the detention center's high-profile roster of inmates.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Legal

Luigi Mangione Lands In Same Brooklyn Jail As Diddy And FTX's Bankman-Fried

Regional banks' Q4 results show NII pressure likely to persist in 2024

ClearBridge Sustainability Leaders Strategy Q4 2023 Portfolio Manager Commentary

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Last week, I wrote how 2024 would be <a href="https://investorplace.com/2024/01/5-a-rated-stocks-buy-in-2024">all about earnings</a>. Corporate fortunes are diverging, interest rates are stabilizing, and 2024 is shaping up to be a year when company performance matters more than big-picture macroeconomic stories.



We&rsquo;re already seeing these effects. Last Wednesday, Taiwan Semiconductor Manufacturing (NYSE:<a href="https://investorplace.com/stock-quotes/tsm-stock-quote/">TSM</a>) announced that its December revenues had handily beat expectations. The news would send Nvidia (NASDAQ:<a href="https://investorplace.com/stock-quotes/nvda-stock-quote/">NVDA</a>) up 2% and Advanced Micro Devices (NASDAQ:<a href="https://investorplace.com/stock-quotes/amd-stock-quote/">AMD</a>) down 2%. It turns out AI chips are booming, but consumer electronics are not.



Similar trends are emerging in everything from streaming services to uranium miners. We&rsquo;re no longer in a &ldquo;rising tide&rdquo; environment where every company moves in the same direction. And that means investors need to keep a close eye on corporate performance. 



To separate these winning firms from the laggards, InvestorPlace analyst Louis Navellier has long used earnings revisions as a key metric. Companies with rising Wall Street forecasts tend to perform better even after the forecasts have been publicly announced, while those with declining revisions tend to underperform long after the news. These insights have long been incorporated in his proven <a href="https://navelliergrowth.investorplace.com/portfolio-grader">Portfolio Grader</a> system and have helped Louis uncover the top-performing stock on the S&amp;P 500 every year for 12 years running. 



In 2023, we saw this effect play out in black and white (or red and green). An investor who bought the 10 companies with the highest upward revisions in the S&amp;P 500 would have walked away with a 25.5% gain. That included companies like chipmaker Qualcomm (NASDAQ:<a href="https://investorplace.com/stock-quotes/qcom-stock-quote/">QCOM</a>) and cruise liner Carnival (NYSE:<a href="https://investorplace.com/stock-quotes/ccl-stock-quote/">CCL</a>). The former saw its 2023 earnings growth revised from 3.3% to 19.6% in Q4 2022&hellip; and subsequently saw shares rise 35% over the following 12 months. The latter would jump 130% over the same period! 



Meanwhile, those buying the bottom-10 companies would have fared far worse. Among these firms were Mohawk Industries (NYSE:<a href="https://investorplace.com/stock-quotes/mhk-stock-quote/">MHK</a>) and United Parcel Service (NYSE:<a href="https://investorplace.com/stock-quotes/ups-stock-quote/">UPS</a>), which essentially ended the year flat. Those buying the bottom-30 firms by earnings revisions would have also landed companies like Signature Bank (OTCMKTS:<a href="https://investorplace.com/stock-quotes/sbny-stock-quote/">SBNY</a>) and First Republic Bank (OTCMKTS:<a href="https://investorplace.com/stock-quotes/frcb-stock-quote/">FRCB</a>), two now-bankrupt firms. 



<h2>How to Invest for 2024</h2>



We&rsquo;ll see even more of these divergences this year. As I wrote here last week, investors are <a href="https://investorplace.com/2024/01/5-a-rated-stocks-buy-in-2024">running out of patience with startups</a> like QuantumScape (NYSE:<a href="https://investorplace.com/stock-quotes/qs-stock-quote/">QS</a>). Competitors like BYD (NYSE:<a href="https://investorplace.com/stock-quotes/byddy-stock-quote/">BYDDY</a>) are racing ahead, and startups are finding it harder than before to raise cheap capital.



That means investors will need to keep a close eye on earnings revisions in 2024. To get you started, the writers and analysts at InvestorPlace.com, our free news site, write this week on five companies that look set to succeed in the coming year.



<h2>5 Surging Growth Stocks to Buy: Duolingo (DUOL)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/07/shutterstock_1668567226-300x169.jpg" alt="DUOL stock: A phone displaying the duolingo logo in front of a computer screen displaying the duolingo site"><div>Source: dennizn / Shutterstock</div></div>


A-rated language-learning app Duolingo (NASDAQ:<a href="https://investorplace.com/stock-quotes/duol-stock-quote/">DUOL</a>) has one of the highest upward earnings revisions in the Russell 3000 index. Over the last quarter, the Pittsburgh-based tech firm has seen its 2024 earnings estimates rise from 15 cents to 82 cents, a fivefold increase.



As Marc Guberti notes in a recent update for InvestorPlace.com, much of this has to do with Duolingo&rsquo;s <a href="https://investorplace.com/2024/01/the-3-hottest-growth-stocks-to-watch-in-2024">expansion into new services</a>, which is keeping user growth high. He notes how the app grew daily active users by 63% last quarter and has raised its full-year guidance as a result.



Josh Enomoto also notes how Duolingo has been aggressively <a href="https://investorplace.com/2024/01/duolingo-layoffs-2024-what-to-know-about-the-latest-duol-job-cuts/">using AI to reduce workforce expenses and create new content</a>. The company is now using artificial intelligence to help create work &ldquo;dramatically faster&rdquo; than before.



Of course, Duolingo isn&rsquo;t for everyone. As Guberti warns, the company&rsquo;s high growth means shares trade at a significant premium at 119 times forward earnings. But the numbers are clear: Duolingo remains a high-growth company that&rsquo;s transitioning itself from negative to positive earnings. If it continues to maintain such growth, history tells us that Duolingo has plenty of upside ahead.



<h2>2. Spotify (SPOT)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/spot1600-300x169.jpg" alt="Spotify (SPOT) logo is on the screen of a smartphone with headphones plugged in."><div>Source: Kaspars Grinvalds / Shutterstock.com</div></div>


A-rated Spotify (NASDAQ:<a href="https://investorplace.com/stock-quotes/spot-stock-quote/">SPOT</a>) gets a special mention in Louis Navellier&rsquo;s Market360 this week. The online streaming service has been accumulating new subscribers <a href="https://investorplace.com/market360/2024/01/7-a-rated-consumer-discretionary-stocks-to-buy-for-the-new-year">at an astonishing rate</a>, and earnings have been revised up as a result. During the fourth quarter, Wall Street analysts moved their fiscal year 2024 earnings estimates from 37 cents per share to $2.10 &ndash; one of the highest revisions on the market.



Here&rsquo;s more from Louis and his team:




Spotify currently has 574 million monthly average users &ndash; up 26% from a year ago. Of those, 226 million are premium users, providing Spotify with most of its revenue. In the third quarter, Spotify generated $2.91 billion from its premium members, and only $447 million through advertising directed at its free users.



The trick will be for Spotify to continue to convert free users to premium members. As it does that, the profits will continue to rise.




At InvestorPlace.com, Muslim Farooque agrees. He picks Walt Disney (NYSE:<a href="https://investorplace.com/stock-quotes/dis-stock-quote/">DIS</a>), Netflix (NASDAQ:<a href="https://investorplace.com/stock-quotes/nflx-stock-quote/">NFLX</a>), and Spotify as his top <a href="https://investorplace.com/2023/12/3-stocks-to-play-the-rise-of-the-subscription-economy/">3 Stocks to Play the Rise of the Subscription Economy</a>. 



Streaming services can only succeed if they have a critical mass of content. And as the leading firm in music and podcast streaming, Spotify likely will have the easiest time expanding its user base while monetizing existing customers.



<h2>3. GitLab (GTLB)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/06/gtlb1600-300x169.png" alt="In this photo illustration the GitLab (GTLB) logo seen displayed on a smartphone screen."><div>Source: rafapress / Shutterstock.com</div></div>


In December, at InvestorPlace.com, Yiannis Zourmpanos noted how software development and IT operations (DevOps) platform company GitLab (NASDAQ:<a href="https://investorplace.com/stock-quotes/gtlb-stock-quote/">GTLB</a>) was expanding its business with high-value customers. He believes this disruptive tech stock <a href="https://investorplace.com/2023/12/3-disruptive-tech-stocks-set-to-soar-by-2025/">is set to soar by 2025</a>:




A substantial 37% year-over-year growth, from 638 customers to 874, suggests GitLab&rsquo;s lead in attracting and retaining larger enterprises&hellip; GitLab&rsquo;s consistently high dollar-based net retention rate was 128% in Q3. This reflects the company&rsquo;s success in expanding revenue within its existing customer base.




The numbers suggest the same outcome. Over the past three months, analysts have revised their forward earnings estimates from 16 cents to 35 cents, more than doubling initial forecasts. In short, GitLab is bringing AI to software development and deployment, and renewed focus on AI-enhanced productivity tools has put the San Francisco-based firm&rsquo;s growth into high gear.



Analyst Luke Lango rightly agrees. In a <a href="https://investorplace.com/earlystageinvestor/special-reports/our-top-10-investment-themes-for-2024">special report</a> for Early Stage Investor (subscription required) he calls GitLab one of the Top 5 &ldquo;highest-quality AI software applications&rdquo; to buy for 2024, and says that shares have &ldquo;likely upside into and beyond 2025.&rdquo; Though few outside the industry have ever heard of GitLab, that matters little for a firm growing earnings at such a rapid clip.



<h2>4. SoFi (SOFI)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/04/ipoe-sofi-1600-300x169.jpg" alt="the Social Finance (SoFi stock) logo is displayed on a smartphone."><div>Source: rafapress / Shutterstock.com</div></div>


This week, Louis&rsquo; team also highlights SoFi Technologies (NASDAQ:<a href="https://investorplace.com/stock-quotes/sofi-stock-quote/">SOFI</a>) as a company where <a href="https://investorplace.com/market360/2024/01/why-wall-street-may-soon-turn-back-to-bullish-on-sofi-stock">Wall Street May Soon Turn Back to Bullish</a>. The New Year&rsquo;s selloff has pushed SoFi&rsquo;s shares back into the $8 range, and a potentially strong earnings release due on Jan. 29 could send shares higher:




The next big event for SOFI stock is just a few weeks away. That would be the release of the company&rsquo;s Q4/full year 2023 results, post-market on Jan. 29&hellip;



Much suggests that SoFi will crush it again with results this quarter, as it did last quarter. With the student loan moratorium lifted and SoFi&rsquo;s non-student lending operations growing, the company is likely to report its first profitable quarter.




The online banking firm has seen a strong upward revision in earnings. Over the past quarter, analysts have doubled their 2024 earnings per share estimates from 3 cents to 6 cents. 2025 earnings expectations are now as high as 23 cents.



That&rsquo;s because banks (and fintechs) tend to benefit when rates are elevated, since they can earn higher risk-free interest on customer deposits. SoFi also lacks a corporate-lending business, which tend to see fewer benefits of rising rates.



Analysts expect SoFi&rsquo;s net interest income (the profits generated from this lending activity) to more than double this fiscal year to $1.3 billion, eclipsing the revenues earned from other activities.



<h2>5. DraftKings (DKNG)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/04/draftkings-300x169.jpg" alt="DraftKings (DKNG) logo, magnified, on its app."><div>Source: Lori Butcher/Shutterstock.com</div></div>


Finally, Faisal Humayun hones in on DraftKings (NASDAQ:<a href="https://investorplace.com/stock-quotes/dkng-stock-quote/">DKNG</a>) this week at InvestorPlace.com as a stock <a href="https://investorplace.com/2024/01/7-stocks-primed-to-explode-your-net-worth-by-2030">Primed to Explode Your Net Worth by 2030</a>. The firm has a strong business, Humayun says, and is supported by industry tailwinds:




DraftKings has surged by 183% in the last 12 months. The rally from deeply oversold levels is likely to sustain with profitability on the horizon. Further, with a big addressable market for online sports betting (OSB) and iGaming, I believe that DKNG stock will continue to create value.




Essentially, DraftKings is rising on a wave of gambling legalizations. U.S. governors are seeing how states like New York are plugging funding gaps with new gaming tax revenues. And everyone wants a piece.



Since October, analysts have revised their next-year earnings estimates for DraftKings from negative 50 cents to negative 26 cents, a 50% improvement. And 2025 figures are up even more; Wall Street now expects DraftKings to earn a positive 80 cents per share by the end of the year.



Together, the numbers suggest that DraftKings still has more room to run. Humayun expects margins to continue expanding for the <a href="https://investorplace.com/2024/01/3-stocks-that-will-surge-higher-on-margin-expansion-and-cash-flow-upside">next 12 to 24 months</a>. If that&rsquo;s the case, shares have at least another 22% upside from here.



<h2>Beating the Market</h2>



Wall Street analysts are generally quite good at their work. Many have million-dollar research budgets at their disposal, and top analysts often know corporate bosses on a personal level.



Louis and I are former Wall Streeters, and we&rsquo;ve both seen this &ldquo;old boys club&rdquo; in action. It&rsquo;s no surprise to either of us how powerful earnings revisions can be.



But Wall Street analysts also can make mistakes. In January 2023, analysts had just slashed their expectations for Facebook parent Meta Platforms (NASDAQ:<a href="https://investorplace.com/stock-quotes/meta-stock-quote/">META</a>). As a group, Wall Street expected Meta&rsquo;s earnings to decline 12.5% the following year.



But they were wrong. Meta would instead see a resurgence in the ad industry and the rise of generative AI. Earnings would instead rise 60% for 2023, sending shares up 145%. 2023 also saw other surprises, including resurgences in U.S. chipmaking and homebuilders. Intel (NASDAQ:<a href="https://investorplace.com/stock-quotes/intc-stock-quote/">INTC</a>) and PulteGroup (NYSE:<a href="https://investorplace.com/stock-quotes/phm-stock-quote/">PHM</a>) would see similarly unexpected turnarounds. No matter how skilled analysts are, some things are exceedingly difficult to predict.



So, what if you could beat Wall Street at its own game?



To do that, Louis has teamed up with earnings season expert Landon Swan reveal a <a href="https://secure.tradesmith.com/?cid=MKT783727&amp;eid=MKT788044">revolutionary AI program with the power to predict the future earnings of more than 500 companies</a> with uncanny accuracy. <a href="https://secure.tradesmith.com/?cid=MKT783727&amp;eid=MKT788044">Full details here.</a>



On the date of publication, Thomas Yeung did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com<a href="https://protect-us.mimecast.com/s/qLNxCn5X66u64BEvHJ7Oly?domain=investorplace.com" target="_blank"> Publishing Guidelines</a>.
<div>Tom Yeung is a market analyst and portfolio manager of the Omnia Portfolio, the highest-tier subscription at InvestorPlace. He is the former editor of Tom Yeung&rsquo;s Profit &amp; Protection, a free e-letter about investing to profit in good times and protecting gains during the bad.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/01/5-surging-growth-stocks-to-buy-for-2024/">5 Surging Growth Stocks to Buy for 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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