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- Ann Chaplin, General Counsel &amp; Corporate Secretary, Qualcomm Inc.

News

Legal

QCOM

Qualcomm Told Benzinga, "The Jury Has Vindicated Qualcomm's Right To Innovate And Affirmed That All The Qualcomm Products At Issue In The Case Are Protected By Qualcomm's Contract With ARM. We Will Continue To Develop Performance-Leading, World Class Products That Benefit Consumers Worldwide, With Our Incredible Oryon ARM-Compliant Custom CPUs."

Hyatt Hotels Corporation (the "Company" or "Hyatt") (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/H#NYSE">H</a>) today disclosed it has executed an exclusivity agreement with Playa Hotels &amp; Resorts N.V. ("Playa") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLYA#NASDAQ">PLYA</a>) under which Playa has agreed to negotiate exclusively with Hyatt regarding potential strategic alternatives, which may include the acquisition of Playa by Hyatt.
Mark S. Hoplamazian, President and Chief Executive Officer of Hyatt, said, "Playa has been a valuable partner for many years, is one of the world's strongest operators of all-inclusive resorts, and owns a premier portfolio of high-quality, high-end all-inclusive resorts in iconic locations and key markets across the Caribbean and Mexico. Strategic alternatives under consideration could have compelling strategic merit to add new incremental durable fee streams for Hyatt. We remain steadfastly committed to our asset-light business model and if this process continues, we will continue to map out a clear path for an asset-light outcome for any strategic alternatives we undertake."
There can be no assurances that any transaction will result from Hyatt's exclusive discussions with Playa, or on what terms. Hyatt does not intend to comment further on these discussions unless and until a definitive agreement has been fully executed.
As required by federal securities laws, Hyatt, which is the beneficial owner of 9.99% of Playa's outstanding shares, has filed an amendment to its Schedule 13D with the U.S. Securities and Exchange Commission to disclose these discussions.

PLYA

Hyatt Enters Exclusive Talks to Explore Acquisition of Playa Resorts

Rectitude Holdings Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RECT#NASDAQ">RECT</a>, the &amp;amp, ldquo, Company&amp;amp, rdquo, or &amp;amp, ldquo, Rectitude&amp;amp, rdquo, ))), a Singapore-based provider of safety equipment and related industrial products, today announced that it has secured its first sales contracts for its new product, the All-in-One Intelligence Micro-grid System ("AIMS"). These contracts are expected to generate approximately USD 1 million in revenue. With the launch of AIMS and Rectitude's expansion into Thailand, the Company is well-positioned to further growth across Southeast Asia.
The achievement follows Rectitude's recent announcement of a strategic supply relationship with Nanjing Starship Intelligent Storage Technology Co. to deliver innovative new energy solutions in Southeast Asia. The successful sale of AIMS and entering a new country represent a key step in the Company's strategy to penetrate a forecasted multi-billion-dollar Southeast Asian new energy solutions market and further strengthen Rectitude's strategic expansion across the region.
"We have been actively executing our strategy to enter the green energy market by offering our all-in-one energy storage solution, targeting industries such as construction, mining, and rural electrification," said Jian Zhang, Chairman, Chief Executive Officer, and Executive Director at Rectitude. "The initial sale of our AIMS product underscores our ability to deliver high-value, adaptable energy storage solutions while driving revenue growth and increasing profit margins, showcasing our success in penetrating new markets and rapidly expanding our presence and product offerings.
The AIMS is designed to provide scalable, flexible, and integrated energy storage and management solutions tailored to the specific needs of diverse industries. With a focus on innovation and sustainability, Rectitude continues to strengthen its position as a leading provider of safety equipment, related industrial products, and energy solutions in Southeast Asia.
&nbsp;

RECT

Rectitude Secures First $1M Contracts for New Energy Storage System, Expands into Thailand with Launch of AIMS Energy Solution

Offerings

BEAT

Heartbeam Filed For Common Stock Offering Of Up To $10M

Jianpu Technology Inc. ("Jianpu," or the "Company") (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/AIJTY#OTCQB">AIJTY</a>), a leading open financial technology platform in China, today announced that its board of directors (the "Board") has approved an extension of its existing share repurchase program, which was originally set to expire in January 2025, for an additional 12 months, demonstrating the Company's continued&nbsp;commitment to enhance&nbsp;shareholder value.
On January 31, 2024, the Board approved the existing share repurchase program, under which the Company is authorized to repurchase up to US$3&nbsp;million of its&nbsp;American depositary shares ("ADSs") or Class A ordinary shares over a period of 12 months.&nbsp;Under the&nbsp;extended share repurchase program, the Company may repurchase up to US$3&nbsp;million of its ADSs or Class A ordinary shares during the 24 months from January 31, 2024.
The Company plans to continue funding the repurchases under the&nbsp;extended&nbsp;share repurchase program&nbsp;with its existing cash balance.

Buybacks

AIJTY

JTCHY

Jianpu Technology Board Approved Share Buyback Of Up To $3M ADSs During The 24 Months (Prior 12 Months) From January 31, 2024

Emeren Group Ltd ("Emeren" or the "Company") (<a href="https://www.emeren.com/">www.emeren.com</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOL#NYSE">SOL</a>), a leading global solar project developer, owner, and operator, today announced the closing of the second round of its Battery Energy Storage System (BESS) portfolio under the Development Service Agreement (DSA) with Arpinge, a permanent capital vehicle focused on sustainable infrastructure in Italy. This round includes two standalone BESS projects located in Sicily, Italy, with a total capacity of 162 MW or approximately 1.4 GWh.
With this addition, the portfolio now totals 462 MW, combining the newly announced 162 MW with the 300 MW tranche initially announced in November 2024. These projects collectively complete the portfolio under the DSA framework.
These projects are part of Emeren's DSA portfolio, a cornerstone of the Company's growth strategy. The DSA structure enables Emeren to monetize its development expertise through partnerships with top-tier investors. As of September 30, Emeren has secured DSA contracts with nine partners, encompassing 28 projects totaling over 2.1 GW—84% BESS and 16% PV. These agreements are projected to generate contracted revenue exceeding $69 million within the next 2-3 years, with an additional 2.0 GW of projects currently under negotiatio

Emeren Expands Battery Storage Portfolio in Italy with New 162 MW Projects, Storage Portfolio Hits 462 MW

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.beigene.com%2F&amp;esheet=54170287&amp;newsitemid=20241223168194&amp;lan=en-US&amp;anchor=BeiGene&amp;index=1&amp;md5=7a7ba2e89608bb25a23fb84e5c3ba5aa">BeiGene</a>, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BGNE#NASDAQ">BGNE</a>, HKEX: 06160, SSE: 688235))), a global oncology company that intends to change its name to BeOne Medicines Ltd., announced it will change its Nasdaq ticker symbol to "ONC" on January 2, 2025, reflecting its long-standing commitment to delivering innovative oncology medicines globally.
"As we enter our 15th year, changing our ticker to ONC reflects our unwavering commitment to leadership in oncology and mission to deliver transformative medicines to cancer patients worldwide," said John V. Oyler, Co-Founder, Chairman and CEO at BeiGene. "This milestone inspires pride in all we have accomplished and fuels our excitement for the future as we advance our innovative hematology franchise and solid tumor pipeline, driving meaningful impact for patients everywhere."
The Company's CUSIP number will remain unchanged. In addition, the Company stock codes and stock names for The Stock Exchange of Hong Kong and the STAR Market of the Shanghai Stock Exchange will not change. No action by the Company's shareholders is required to implement the Nasdaq ticker symbol change.

BGNE

BeiGene to Rebrand as BeOne Medicines with Oncology-Focused New Nasdaq Ticker "ONC"

<ul>
<li>The Board approved a special dividend of $2.50 per share paid November 8, 2024 to stockholders of record at the close of business on October 11, 2024.</li>
</ul>
 &nbsp;

Dividends

Ennis Board Approved A Special Dividend Of $2.50/Share

Earnings

Earnings Beats

Earnings Misses

Ennis Q3 2024 GAAP EPS $0.39 Misses $0.42 Estimate, Sales $99.771M Beat $98.300M Estimate

The number of stocks advancing surpassed those declining among the <a href="https://www.benzinga.com/topic/s-p-500">S&amp;P 500 index</a> constituents on Friday after a 14-session streak of negative market breadth. Now, Ryan Detrick, chief market strategist at Carson Global, has predicted gains ahead, citing historical market data.
What Happened: Risk appetite returned to Wall Street on Friday, leading to a sigh of relief from investors. Detrick highlighted how the markets have performed after previous such streaks ended.
<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">Record 14 days in a row of more declining stocks than advancing stocks for the S&amp;P 500 ended on Friday. Here&#39;s what happened after previous long streaks ended. &#x1f4aa; <a href="https://t.co/WV6PU7juQF">pic.twitter.com/WV6PU7juQF</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1871010953510142270?ref_src=twsrc%5Etfw">December 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
According to the data shared by him, over the past four decades, there have been only five other instances where the S&amp;P 500 experienced a period of ten or more consecutive days of negative breadth. Additionally, the index was higher by an average of 17.9% a year later after all five times.
<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">Going back 40 years, there have been five other times the S&amp;P 500 had more decliners than advancers for 10 consecutive days or more. A year later? Higher all five times and up 17.9% on avg. <a href="https://t.co/eYCUpiz4PU">pic.twitter.com/eYCUpiz4PU</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1871016225993601258?ref_src=twsrc%5Etfw">December 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The market breadth turned positive with 89% of the stocks rising on Friday as compared to only 4% on Wednesday. This divergence also led the index to be higher a year later by at least 92.3% of the time since 1985.
<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">Less than 4% advancers on the S&amp;P 500 on Wednesday, but 89% on Friday. Previous times saw a flush and then major buying two days later? Negative 1 and 3 mos later on avg, but higher a year later 12 out of 13 times (92.3%). <a href="https://t.co/yqfV0tBFUV">pic.twitter.com/yqfV0tBFUV</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1871023980074963222?ref_src=twsrc%5Etfw">December 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42638575/microstrategy-stock-declines-over-14-amid-heightened-volatility-over-sp-500-inclusion-concerns-heres-what-is-happening">MicroStrategy Stock Declines Over 14% Amid Heightened Volatility Over S&amp;P 500 Inclusion Concerns: Here&#8217;s What Is Happening</a>
Why It Matters: The Personal Consumption Expenditure (PCE) price index, the Fed&#8217;s preferred inflation gauge, rose 2.4% year-over-year, below the anticipated 2.5%. Core PCE, which excludes volatile food and energy prices, also undershot expectations, climbing 2.8% instead of the projected 2.9%.
This unexpected cooling of <a href="https://www.benzinga.com/general/travel/24/12/42627563/wall-street-rallies-as-soft-inflation-data-fuels-dip-buying-bonds-rebound-travel-stocks-soar-whats-driving-markets-friday">inflation </a>sparked a jubilant rally across all major indices on Friday. The S&amp;P 500 surged 1.09%, with every sector contributing to the gains. Investors cheered the reprieve from persistent inflationary pressures.
The real estate sector led the charge, experiencing a sharp rebound after being particularly hard-hit by the Fed&#8217;s recent hawkish stance. Small-cap stocks, represented by the Russell 2000, also posted strong gains of 0.94%, buoyed by a significant recovery in regional banks.
Price Action: The 14-day long streak entailing the trading days spanning from market close on Nov. 29 to Dec. 19, saw the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) down by 2.07% and the Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) up by 0.65%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data. On Friday, SPY advanced 1.20% and QQQ ended 0.87% higher.
<figure class="wp-block-image size-large"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/23020121/SPY-QQQ-CHART-1024x576.png" alt="" class="wp-image-703419" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/23020121/SPY-QQQ-CHART-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/23020121/SPY-QQQ-CHART-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/23020121/SPY-QQQ-CHART-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/23020121/SPY-QQQ-CHART-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/23020121/SPY-QQQ-CHART.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Over the last month, the S&amp;P 500 index is down by 0.94%, but year-to-date, it is up 25.05%.
The Nasdaq 100 index, on the other hand, is 2.33% over the last month and 28.68% year-to-date.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42610441/nikes-new-ceo-says-we-lost-our-obsession-with-sport-as-he-rebukes-old-strategies-on-performance-marketing-isolation-of-wholesalers-aims-to-create-demand">Nike&#8217;s New CEO Blames Promotions For Declining Profits, Says Turnaround Efforts May Hurt As Company Moves To Clear Excess Inventory: &#8216;We Lost Our Obsession With Sport&#8217;</a></li>
</ul>
Image generated using Midjourney

Analyst Color

Equities

Markets

Market Breadth Rebounds As Risk Appetite Makes A Comeback: This Analyst Predicts Gains Ahead After S&P 500's Record Negative Streak

America&#8217;s increasing reliance on government debt has been labeled a &#8220;fatal flaw&#8221; by&nbsp;Ruchir Sharma, chair of&nbsp;Rockefeller International. He warns that this dependency is creating a massive economic bubble that is on the verge of bursting. 
What Happened: The &#8220;mother of all bubbles&#8221; in the U.S. economy, driven by excessive debt, is on the verge of bursting, according to&nbsp;Ruchir Sharma, chair of&nbsp;Rockefeller International. In a recent&nbsp;<a href="https://www.ft.com/content/9a0da0d6-92b4-4034-ac25-7b4abcbb0bbe">column</a>&nbsp;in the Financial Times, Sharma highlighted America&#8217;s growing dependency on government debt as a critical weakness. He noted that attempts to control this addiction could hinder economic growth and corporate earnings.
Sharma emphasized that while Wall Street celebrates strong earnings, these figures are less impressive when adjusted&nbsp;for government spending and the&nbsp;influence of major tech companies. He pointed out that &#8220;supernormal profits&#8221; often normalize due to competition. The current economic boost is partly due to unprecedented deficit spending, which inflates growth and profits artificially.
&#8220;But every hero has a fatal flaw. America's is its sharply increasing addiction to government debt,&#8221; he wrote.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/24/12/42619049/celebrities-like-ellen-degeneres-david-beckham-and-simon-cowell-have-turned-englands-idyllic-cotswolds-into-a-list-mecca?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Celebrities Like Ellen DeGeneres, David Beckham And Simon Cowell Have Turned England&#8217;s Idyllic Cotswolds</a>
According to Sharma, U.S. public debt is nearing 100% of GDP, a level not seen since World War II. The cost of servicing this debt has surged, with interest expenses now reaching $1 trillion annually, surpassing defense spending. Despite the federal deficit, U.S. households and businesses maintain strong financial health, supporting the economy.
Sharma warned that next year, investors might demand higher interest rates or fiscal discipline, potentially reducing reliance on government spending and affecting growth. He also noted that other global economies could challenge America&#8217;s economic dominance, signaling an end to the current bubble.
Why It Matters: The warning from Sharma&nbsp;aligns with concerns raised by the&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41495286/deficit-strain-in-washington-will-get-worse-imf-warns-national-debt-projections-rev">International Monetary Fund (IMF)</a>&nbsp;about the U.S. fiscal outlook. In October, the IMF projected a persistently high budget deficit and a national debt unlikely to stabilize by 2029. The Washington-based institution highlighted that both U.S. and Chinese debts have a low probability of stabilizing, underscoring the global implications of America&#8217;s fiscal policies. 
Meanwhile, SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) which tracks the S&amp;P 500, has increased 25.07% in terms of year-to-date (YTD) returns while that of Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose by 28.83%, as of Monday pre-market hours, according to <a href="https://pro.benzinga.com">Benzinga Pro</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42635671/analyst-bullish-on-shiba-inu-sees-235-surge-despite-recent-fall?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Analyst Bullish on Shiba Inu, Sees 235% Surge Despite Recent Fall</a></li>
</ul>
Image via Shutterstock

General

America's 'Fatal Flaw' Is Its 'Sharply Increasing Addiction' To Government Debt, Says Expert And The 'Mother Of All Bubbles' Is Ready To Pop

In a groundbreaking development,&nbsp;Botto, an AI-powered artist, has successfully generated over $5 million through the auction of its digital artworks since 2021. This achievement marks a significant milestone in the intersection of technology and art.
What Happened: Botto, a &#8220;decentralized autonomous artist,&#8221; has been making waves in the art world. Developed&nbsp;by software collective ElevenYellow and&nbsp;German artist&nbsp;Mario Klingemann, Botto creates images based on algorithmic prompts, initially using random words and symbols. Each week, it generates approximately 70,000 images, presenting 350 to the BottoDAO community for voting, CNBC <a href="https://www.cnbc.com/2024/12/23/botto-the-ai-machine-artist-making-millions-of-dollars.html">reported</a>&nbsp;on Monday.
The BottoDAO, comprising around 5,000 members, selects one image weekly to be sold on the SuperRare NFT platform. Voting is free, but purchasing Botto tokens grants additional voting points, increasing influence on Botto&#8217;s creative output. Half of the auction proceeds are shared among voters, while the rest funds Botto&#8217;s operations. Notably, Botto&#8217;s value has soared, with two early images fetching $276,000 at a recent Sotheby&#8217;s auction, despite initial reserve prices of $13,000 to $15,000.
See Also:&nbsp;<a href="https://www.benzinga.com/24/12/42609769/elon-musk-is-a-legendary-entrepreneur-but-also-a-bully-says-openai-ceo-sam-altman-now-its-me-its-been-bezos-gates-zuckerberg-lots-of-other-people?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk A Legendary Entrepreneur But Also A Bully, Says OpenAI CEO Sam Altman: &#8216;Now It&#8217;s Me, It&#8217;s Been&nbsp;Bezos, Gates, Zuckerberg, Lots Of Other People&#8217;</a>
Klingemann predicts that AI will soon surpass human creativity in art, with Botto&#8217;s success challenging traditional notions of authorship and emphasizing the collaborative nature of art creation.
Why It Matters: The rise of AI-generated art has sparked significant debate within the art community. In February, a&nbsp;<a href="https://www.benzinga.com/general/24/02/37398914/the-4-700-artist-ai-controversy-artists-accuse-midjourney-and-other-ai-firms-of-unauthorized-use-in">lawsuit&nbsp;highlighted concern</a>s over the unauthorized use of copyrighted works by AI art generator companies, including Midjourney and Stability AI. This legal battle underscores the need for regulation in the rapidly evolving AI-generated art space.
Additionally, artists have taken measures to protect their work from unauthorized AI usage. In January 2024, a tool called&nbsp;<a href="https://www.benzinga.com/news/24/01/36712239/turning-ai-against-itself-nightshade-is-a-free-ai-poisoning-tool-that-aims-to-protect-artists">Nightshade&nbsp;was introduced</a>, employing &#8220;data poisoning&#8221; to make copyrighted images irreproducible by AI image generators. This development highlights the ongoing tension between technological innovation and artistic integrity.
Read Next:&nbsp;
<ul>
<li><a 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?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple Reportedly In Talks With Tencent, TikTok-Parent ByteDance To Roll Out AI Features In China</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Shutterstock

Tech

This AI Artist Generates $5M Through Digital Art Auctions

Japanese automakers Honda Motor Co. Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>) and Nissan Motor Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NSANY#OTC">NSANY</a>) have started talks for a <a href="https://www.benzinga.com/news/global/24/12/42541842/japanese-auto-giants-nissan-honda-eye-merger-says-nikkei">potential merger</a>, the two companies said on Monday.
What Happened: Nissan and Honda are planning to establish a joint holding company that will serve as the parent company for both Nissan and Honda. 
The joint holding parent company will be listed on the Tokyo Stock Exchange and Nissan and Honda will subsequently be delisted. The listing of the joint holding company is scheduled for August 2026.
The two companies aim to wrap up talks by June 2025. 
With the merger, the companies aim to increase sales revenue to more than 30 trillion Japanese Yen (approx. $191.34 billion) and to increase operating profits by more than 3 trillion yen.
Why It Matters: "Creation of new mobility value by bringing together the resources including knowledge, talents, and technologies that Honda and Nissan have been developing over the long years is essential to overcome challenging environmental shifts that the auto industry is facing,&#8221;&nbsp;Honda Director and Representative Executive Officer Toshihiro Mibe said. 
&#8220;We are still at the stage of starting our review, and we have not decided on a business integration yet&#8230;,&#8221; he added. 
Mitsubishi Motors is also <a href="https://www.benzinga.com/markets/asia/24/12/42545185/nissan-soar-over-20-on-merger-talks-with-honda-eyeing-8-million-annual-vehicle-sales">considering joining the merger</a>, the companies said, while adding that the smaller company is aiming to conclude whether it will participate by the end of January.
Nissan is a shareholder in Mitsubishi Motors.
The integration of the companies will mark the biggest merger in global auto history since Fiat Chrysler Automobiles and PSA <a href="https://www.benzinga.com/m-a/21/01/18991944/worlds-4th-largest-automaker-set-to-take-shape-monday">merged in 2021 to create</a> Stellantis NV.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/tech/24/12/42640472/tesla-exec-bemoans-cost-of-sending-letter-to-owners-affected-by-ev-giants-recent-recall-of-nearly-700000-vehicles">Tesla Exec Bemoans Cost Of Sending Letter To Owners Affected By EV Giant&#8217;s Recent Recall Of Nearly 700,000 Vehicles</a></li>
</ul>
Photo courtesy: Shutterstock

Global

NSANY

Japanese Automakers Honda, Nissan Start Merger Talks: Mitsubishi Motors Considers Joining

Honda Motor Co., Ltd. ("Honda") and Nissan Motor Co., Ltd., ("Nissan"; Honda and Nissan are collectively referred to as the "Companies") have agreed to begin discussions and consideration toward a business integration (the "Business Integration") and have resolved at the boards of directors of each of the Companies to sign a memorandum of understanding regarding the consideration of the Business Integration, which has been duly executed
&nbsp;
<a href="https://global.honda/en/investors/library/filings/filings2024122301/main/0/link/CY2024_20241223_TSEfling_e_1_v1.pdf" title="https://global.honda/en/investors/library/filings/filings2024122301/main/0/link/CY2024_20241223_TSEfling_e_1_v1.pdf">https://global.honda/en/investors/library/filings/filings2024122301/main/0/link/CY2024_20241223_TSEfling_e_1_v1.pdf</a>

Honda, Nissan Earlier Announced Talks On Potential Business Integration; Honda, Nissan: Plan to Sign Definitive Merger Agreement in June 2025

The Future Fund Managing Partner Gary Black on Sunday said that a majority of Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) car owners will likely not want to put their cars into the <a href="https://www.benzinga.com/topic/tesla-robotaxi">company&#8217;s robotaxi fleet</a>.
What Happened: &#8220;What % of Tesla owners would accept a stream of payouts from Tesla for deploying their cars in a TSLA robotaxi network to move people/luggage around every day?&#8221; Black posted on social media platform X while opining that over 50% will likely not want to rent their cars to Tesla&#8217;s robotaxi fleet.
Tesla CEO Elon Musk expects his company&#8217;s robotaxi fleet to function like a&nbsp;<a href="https://www.benzinga.com/news/24/04/38396288/teslas-robotaxi-to-be-called-cybercab-elon-musk-says-self-driving-fleet-will-be-like-combination-of" target="_blank" rel="noreferrer noopener">combination of Airbnb and Uber</a>. While a certain portion of the fleet will be owned by Tesla, individual customers can also add or subtract their vehicles to the robotaxi fleet at will for added earnings. As for riders, they can summon a car using the Tesla App, Musk said during the company's second-quarter earnings call in July. 
If Tesla charged $1 for every mile on a robotaxi ride and gave a 75% payout to car owners and every car had 25 trips every day with every trip being roughly 6 miles long, car owners could make roughly $40,000 per year by simply renting their car to the fleet, Black said while retaining his pessimism for users not wanting to rent their cars to the company fleet. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">What % of Tesla owners would accept a stream of payouts from Tesla for deploying their cars in a TSLA robotaxi network to move people/luggage around every day? At 25 trips/day x 6 miles/trip x $1/mile x 75% payout, let's assume a TSLA owner could make $40K per year by renting…
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1870855355229438099?ref_src=twsrc%5Etfw">December 22, 2024</a></blockquote>
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Black is not alone in his doubts regarding Musk&#8217;s vision for his robotaxi fleet. In August, Uber Technologies Inc. CEO Dara Khosrowshahi <a href="https://www.benzinga.com/news/24/08/40299293/uber-ceo-dara-khosrowshahi-doubts-teslas-robotaxi-fleet-management-plans-but-maintains-hope-for-part">expressed doubts</a> about whether a car owner is going to want his car to be ridden in by a complete stranger. Tesla drivers will also likely want their car at the time when ridership is high, creating trouble in meeting demand, he said on an episode of The Logan Bartlett Show.
Building cars and operating a taxi fleet are "very very different" businesses, the Uber CEO then noted. While running a fleet, the company has to match people with their rides, and price the rides economically while also addressing other concerns like people getting sick in a car, losing items, or getting involved in accidents, he said.
Why It Matters: Tesla CEO&nbsp;Elon Musk&nbsp;said during Tesla's third-quarter earnings call that the company expects to start a ride-hail service in Texas and California starting next year,&nbsp;<a href="https://www.benzinga.com/news/24/10/41484511/palo-alto-may-open-streets-to-tesla-robotaxis-but-california-regulators-will-decide-fate" target="_blank" rel="noreferrer noopener">subject to regulatory approval</a>, with self-driving Model 3 and Model Y vehicles equipped with future versions of its full self-driving (FSD) driver assistance technology. While FSD currently requires active driver supervision, Musk and Tesla are hopeful that it can enable autonomous driving with future updates.
However, the vehicles might not all operate as driverless robotaxis initially in California and Texas but with a driver as some states demand it until the company touches certain milestones in terms of miles and hours driven, the company then said.
Last week, Bloomberg reported that Tesla is in <a href="https://www.benzinga.com/markets/equities/24/12/42575664/tesla-reportedly-in-talks-with-austin">early discussions with authorities in the city of Austin</a>, Texas, to roll out its&nbsp;autonomous vehicles for testing&nbsp;as early as 2025.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
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</ul>
Photo courtesy: Tesla

TSLA

Tesla Analyst Estimates Vehicle Owners Can Make $40,000 A Year By Renting EVs To Robotaxi Fleet That Elon Musk Likened To A Combination Of Airbnb And Uber, But Will It Take Off?

Leading Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) analysts Dan Ives and Gary Black revealed stark differences in their valuation approaches during a recent &#8220;Brighter with Herbert&#8221; show appearance, even as both remain bullish on the electric vehicle maker&#8217;s prospects.
What Happened: Ives, Managing Director at Wedbush Securities, maintains the Street&#8217;s highest price target of $515 with a bull case of $650, citing potential revenues from autonomous robotaxis and the company&#8217;s Optimus robot project. He projects Tesla&#8217;s earnings at $15 per share by 2030.
&#8220;The Tesla story changes because everything we looked at with robotaxi gets accelerated,&#8221; Ives <a href="https://www.youtube.com/watch?v=HgFLEO4UiJ8">said</a>, estimating autonomous vehicles could capture 20% of ride-shares by decade&#8217;s end. He values Tesla&#8217;s autonomous business alone at $1 trillion.
In contrast, Black, Managing Partner at The Future Fund LLC, takes a more conservative approach with a $380 target, well above the Street average of $275. Black forecasts $17 earnings per share by 2030 but excludes robotaxi and Optimus revenue from his calculations.
&#8220;Even if I assume Tesla took 25% of ride-sharing market share, that only adds about a dollar per share in earnings,&#8221; Black explained, noting his use of higher risk adjustments in Tesla&#8217;s valuation given its volatility.
See Also: <a href="https://www.benzinga.com/markets/equities/24/12/42640010/palantir-and-anduril-reportedly-lead-consortium-partner-with-spacex-and-openai-to-compete-against-traditional-defense-contractors-in-850-billion-us-military-market">Palantir And Anduril Reportedly Lead Consortium, Partner With SpaceX And OpenAI To Compete Against Traditional Defense Contractors In $850 Billion US Military Market</a>
Why It Matters: The valuation debate comes as Tesla&#8217;s stock has surged nearly 71% year-to-date, recently crossing the symbolic $420 level that CEO Elon Musk referenced in his controversial 2018 &#8220;funding secured&#8221; tweet. Morgan Stanley has named Tesla its top stock pick for 2025, citing the company&#8217;s advances in <a href="https://www.benzinga.com/24/12/42452806/teslas-red-hot-stock-meets-meme-magic-420-level-musk-celebrates-the-prophecy-analysts-react">autonomy and robotics</a>.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Am considering taking Tesla private at $420. Funding secured.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1026872652290379776?ref_src=twsrc%5Etfw">August 7, 2018</a></blockquote>
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Both analysts expressed optimism about Tesla&#8217;s planned entry into the compact car segment, with Black suggesting a $25,000-$30,000 hatchback could expand Tesla&#8217;s market reach similar to how the Model Y boosted its presence in the crossover segment.
Tesla has a consensus target of $280.41 from 33 analysts, according to <a href="https://www.benzinga.com/quote/TSLA/analyst-ratings">data from Benzinga Pro</a>. The high is $515, and the low is $24.86. Recent ratings from Baird, Mizuho, and Goldman Sachs give an average target of $446.67, implying a 3.05% upside.
Year-to-date, the Tesla stock has gained 69.50%.
<figure class="wp-block-image aligncenter size-large is-resized"><a href="https://www.benzinga.com/quote/TSLA/analyst-ratings"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/23043001/Screenshot-2024-12-23-at-2.58.00%E2%80%AFPM-1024x371.png" alt="" class="wp-image-703695" style="width:684px;height:auto" /></a></figure>
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Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

TSLA Stock Valuation Duel: Dan Ives Bets Big On Robotaxis While Gary Black Plays It Safe

<a href="https://x.com/KeilafOmer/status/1870878159782174735" title="https://x.com/KeilafOmer/status/1870878159782174735">https://x.com/KeilafOmer/status/1870878159782174735</a>

INVZ

Innoviz Technologies CEO Omer Keilaf Tweeted Sunday,  "...we wanted to give you heads up towards a big announcement we are going to share tomorrow pre-market"

Himax Technologies, Inc. ("Himax" or "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HIMX#NASDAQ">HIMX</a>), an industry leader in fabless display driver ICs and other semiconductors, today announced that the Company and its AI ecosystem partners will unveil a suite of innovative, production-ready AIoT applications at CES 2025, powered by Himax's groundbreaking ultralow power WiseEye Module solutions. These designs will showcase intuitive, user-friendly AI capabilities set to transform multiple industries by improving productivity, scalability, automation, and efficiency, all while delivering better performance and lower power consumption. Himax's ultralow power WiseEye Module solutions are leading the AIoT revolution with their advanced, efficient, and scalable AI-driven technologies.
The Himax WiseEye Module seamlessly integrates ultralow power WiseEye AI processors and proprietary always-on CMOS sensors, designed with compact form factors, high integration, and plug-and-play functionality. Characterized by remarkably low power consumption at just single-digit milliwatts, it is ideal for battery-powered endpoint devices that cater to everyday life. The WiseEye Module incorporates versatile AI models from in-house or third-party partners, enabling no-code/low-code AI development for use cases like people counting, gesture recognition, human detection, face recognition, and audio command classification. This simplifies the AI development process, reducing cost and time, allowing AI developers, even those with limited AI expertise, to easily integrate advanced AI features into their systems and applications. Given their versatility, WiseEye Modules are poised to become foundational technology for a wide range of IoT applications.
At the event, a visionary and innovative lineup of ultralow power WiseEye Module solutions will be on display, showcasing their potential to revolutionize AI-powered applications across industries.

HIMX

Himax To Showcase AI-Powered Smart Tech Revolution at CES 2025

Smith &amp; Wesson Brands Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWBI#NASDAQ">SWBI</a>) faces increased legal scrutiny as Mexico&#8217;s landmark lawsuit against U.S. gun manufacturers reaches a critical juncture at the Supreme Court, potentially creating new liability risks for the firearms industry.
What Happened: The lawsuit, filed in 2021, alleges that Smith &amp; Wesson and other defendants enabled gun trafficking to Mexican drug cartels through their business practices. According to ATF data <a href="https://www.cbsnews.com/news/guns-from-us-ending-up-in-mexico-60-minutes/">reviewed</a> by CBS News, an estimated 200,000 to 500,000 U.S. firearms are smuggled into Mexico annually, with 75% of confiscated weapons originating from the United States.
The case challenges traditional liability protections enjoyed by gun manufacturers under U.S. law. Mexico&#8217;s legal strategy, spearheaded by attorney Jonathan Lowy, argues that manufacturers are &#8220;aiding and abetting&#8221; gun trafficking by continuing to supply dealers with questionable sales patterns.
See Also: <a href="https://www.benzinga.com/markets/equities/24/12/42640010/palantir-and-anduril-reportedly-lead-consortium-partner-with-spacex-and-openai-to-compete-against-traditional-defense-contractors-in-850-billion-us-military-market">Palantir And Anduril Reportedly Lead Consortium, Partner With SpaceX And OpenAI To Compete Against Traditional Defense Contractors In $850 Billion US Military Market</a>
Why It Matters: Smith &amp; Wesson has denied the allegations as &#8220;not true.&#8221; The firearms industry has petitioned the Supreme Court, arguing that allowing such lawsuits could subject manufacturers to costly litigation from foreign entities attempting to influence U.S. gun control policies.
The lawsuit&#8217;s scope extends beyond manufacturers to include five Arizona-based gun dealers. Internal ATF documents revealed that 566 guns recovered in Mexico over a four-and-a-half-year period were traced to these dealers, with nearly 200 coming from a single retailer near Phoenix.
Aside from the Mexico lawsuit, Smith &amp; Wesson has also faced challenging market conditions weighing on its earnings &#8211; the company attributed its <a href="https://www.benzinga.com/news/24/09/40748035/smith-wesson-brands-reports-downbeat-results-joins-planet-labs-pbc-broadcom-and-other-big-stocks-mov">weaker second-quarter earnings</a> to inflationary pressures impacting consumers&#8217; spending.
Price Action: Smith &amp; Wesson Brands Inc. closed on Friday at $10.04, declining 1.47%. Over the past month, the stock has dropped 27.1%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
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Image via Wikimedia Commons
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

SWBI

Smith & Wesson's Fate Hangs In The Balance As Supreme Court Weighs Mexico's Gun Trafficking Lawsuit: SWBI Stock Down 27% Over Past Month, Here's What's Next

The CNN Money Fear and Greed index showed some easing in the fear level, with the index moving to the &#8220;Fear&#8221; zone on Friday.
U.S. stocks settled higher on Friday, with the Dow Jones index surging almost 500 points during the session.
Even as the major indices recorded gains on Friday, all three averages fell last week. The Dow dipped around 2.3% to record its third losing week in a row. The S&amp;P 500 declined about 2%, while the Nasdaq Composite fell around 1.8% last week.
On the economic data front, the U.S. personal consumption expenditures price index rose 0.1% month-over-month in November down from 0.2% in each of the prior two months and compared to market estimates of 0.2%. The University of Michigan consumer sentiment rose to 74 in December, recording the highest level since April, versus a reading of 71.8 in November.
Carnival Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) reported better-than-expected earnings for its fourth quarter on Friday.
All sectors on the S&amp;P 500 closed on a positive note, with utilities, real estate, and information technology stocks recording the biggest gains on Friday.
The Dow Jones closed higher by around 498 points to 42,840.26 on Friday. The S&amp;P 500 rose 1.09% to 5,930.85, while the Nasdaq Composite surged 1.03% to close at 19,572.60 during Friday's session.
Investors are awaiting earnings results from Limoneira Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LMNR#NASDAQ">LMNR</a>), Bridgeline Digital, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLIN#NASDAQ">BLIN</a>), and Anavex Life Sciences Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVXL#NASDAQ">AVXL</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 28.1, the index moved to the &#8220;Fear&#8221; zone on Friday, versus a prior reading of 21.9.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
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Photo courtesy: Shutterstock

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