Latest news for Haier Smart Home (OTC:HSHCY) Stock

Haier Smart Home is one of the largest household appliance manufacturers globally, with key products spanning refrigerators, washing machines, kitchen appliances, air conditioners, and water solutions. It has been consistently among the top three in China by retail sales in most home appliance categories. Despite a heavy focus on home appliances, the company has also established a footprint in distribution channel services and commercial refrigeration business. In addition, Haier generates around 50% of sales outside China. As of December 2023, Haier Group and its subsidiaries are the largest shareholders of Haier Smart Home with around 29% equity interest on aggregate.

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Microsoft Said We Are Aware Of Azure-related Issue Affecting Subset Of Customers; Also Aware Of Issue Affecting Windows Devices Due To Update From Crowdstrike; Working To Restore Services As Quickly As Possible

Oppenheimer analyst Jason Helfstein maintains Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) with a Outperform and raises the price target from $500 to $525.

Price Target

Analyst Ratings

Oppenheimer Maintains Outperform on Meta Platforms, Raises Price Target to $525

Raymond James analyst Matt Roberts initiates coverage on Sonoco Prods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SON#NYSE">SON</a>) with a Outperform rating and announces Price Target of $62.

Initiation

Raymond James Initiates Coverage On Sonoco Prods with Outperform Rating, Announces Price Target of $62

Morgan Stanley analyst Lee Simpson upgrades ARM Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) from Equal-Weight to Overweight and raises the price target from $107 to $190.

Upgrades

Morgan Stanley Upgrades ARM Holdings to Overweight, Raises Price Target to $190

In a recent prediction, Bilarhari Kausikan, the former ambassador of Singapore to Russia, has warned that the future of Ukraine could be similar to that of Korea, divided into two separate entities.
What Happened: Kausikan expressed his concerns about the ongoing Russia-Ukraine conflict potentially leading to a division of Ukraine, akin to the post-World War II split of North and South Korea, CNBC <a href="https://www.cnbc.com/2024/07/19/ukraine-could-become-a-split-nation-former-singapore-ambassador-to-russia.html">reported</a> on Friday.
"The model I have in my mind is what has happened to Korea. Korea is still at war, North and South, legally, but there is an armistice and a divided country. I see that as Ukraine's final state."
Kausikan made these remarks at a private bank VP Bank event earlier this week, speculating on the potential impact of a return to office by former U.S. President Donald Trump. He suggested that Trump might adopt a &#8220;dramatic&#8221; stance on Ukraine to distinguish his approach from the Biden administration. This speculation comes in the wake of Trump&#8217;s increasing chances of reelection after surviving an assassination attempt last Saturday.
See Also: <a href="https://www.benzinga.com/news/24/07/39807224/trump-told-robert-kennedy-jr-over-the-phone-that-the-bullet-felt-like-the-worlds-largest-mosquito?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Told Robert Kennedy Jr Over The Phone That The Bullet Felt Like &#8216;The World&#8217;s Largest Mosquito&#8217;</a>
While Kausikan did not elaborate on what Trump&#8217;s &#8220;dramatic&#8221; action might entail, he expressed his conviction that &#8220;Europe is incapable of deterring Russia, and therefore is incapable of supporting Ukraine in any substantive way, without the U.S. at its back.&#8221;
Why It Matters: The ongoing conflict in Ukraine has been a focal point of international attention. Earlier this month, Ukrainian President Volodymyr Zelenskyy<a href="https://www.benzinga.com/news/24/07/39700167/zelenskyy-lands-in-washington-as-nato-summit-puts-ukraine-aid-first"> arrived in Washington, D.C.</a>, as the North Atlantic Treaty Organization (NATO) summit began, with long-term support for Ukraine in the war against Russia topping the agenda.
Following the summit, the U.S. announced a $225 million aid package for Ukraine, prompting<a href="https://www.benzinga.com/news/24/07/39759824/russia-seeks-talks-with-us-as-biden-announces-225m-aid-package-for-ukraine-at-nato-summit"> Russia to seek talks </a>with the U.S.
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<li><a href="https://www.benzinga.com/general/politics/24/07/39805974/trumps-big-mistake-fivethirtyeight-now-shows-biden-as-favorite-to-win-election-following-j-d-van?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Big Mistake? FiveThirtyEight Now Shows Biden As Favorite To Win Election Following J.D. Vance VP</a></li>
</ul>
Photo courtesy: The Presidential Office of Ukraine
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Politics

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General

Ukraine In 'Final State' To Split Like North And South Korea Amid Ongoing Conflict With Russia, Says Former Singapore Ambassador

Baird analyst Andrew Wittmann downgrades Cintas (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTAS#NASDAQ">CTAS</a>) from Outperform to Neutral and raises the price target from $750 to $775.

Downgrades

CTAS

Baird Downgrades Cintas to Neutral, Raises Price Target to $775

Michael Saylor, the CEO of software firm MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) declared Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) a political force, a statement that comes amid significant political developments favoring the world&#8217;s largest cryptocurrency.
What Happened: On Thursday, Saylor responded to a New York Post video on the significance of Senator J.D. Vance&#8217;s (R-Ohio) vice-presidential candidacy for cryptocurrency. 
One of the most influential advocates of the digital currency, Saylor stated, &#8220;Bitcoin has become a political force,&#8221; underlining its importance as a major poll issue this election.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> has become a political force.<a href="https://t.co/MggQDgNsfC">pic.twitter.com/MggQDgNsfC</a>
&mdash; Michael Saylor&#x26a1;&#xFE0F; (@saylor) <a href="https://twitter.com/saylor/status/1814111964437553301?ref_src=twsrc%5Etfw">July 19, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39846584/president-bidens-odds-of-exiting-the-race-surge-to-80-heres-whos-favored-now?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">President Biden&#8217;s Odds Of Exiting The Race Surge To 80%: Here&#8217;s Who&#8217;s Favored Now</a>
Earlier this week, former President Donald Trump announced Vance as his running mate, a known pro-cryptocurrency advocate. Vance<a href="https://www.benzinga.com/general/politics/24/07/39780777/trump-picks-senator-j-d-vance-as-running-mate-musk-says-great-choice-for-vp"> holds a significant amount of Bitcoin and has been actively promoting legislation </a>favorable to the cryptocurrency industry.
Why It Matters: The selection of Vance as a vice-presidential candidate has stirred the industry. Todd Gordon, founder of Inside Edge Capital, has even predicted that <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39786797/bitcoin-could-hit-100k-this-year-with-trump-jd-vances-pro-crypto-presidential-ticket-says-">Bitcoin could surpass the $100,000 mark this year,</a> citing the pro-cryptocurrency stance of the potential Trump-Vance presidential ticket as a contributing factor.
Support for Donald Trump and candidates seen as supportive of cryptocurrencies has risen from people within the industry. Winklevoss twins, the co-founders of cryptocurrency exchange Gemini, <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39852340/elizabeth-warrens-opponent-gets-a-1m-donation-in-bitcoin-from-winklevoss-twins-spent-the-l">donated $1 million in Bitcoin to support John Deaton's political campaign</a> against Senator Elizabeth Warren (D-Mass.). Last month, the brothers <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39424615/trump-gets-2m-in-bitcoin-donations-for-2024-election-from-winklevoss-twins-the-biden-admin" target="_blank" rel="noreferrer noopener">donated $2 million</a> in Bitcoin to Trump&#8217;s 2024 election campaign.
However, not everyone is in agreement. Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) co-founder, Vitalik Buterin, <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39825744/vitalik-vs-trump-donors-ethereum-co-founder-says-hes-against-choosing-your-political-alleg">raised objections to choosing political allegiances</a> based solely on a candidate&#8217;s pro-cryptocurrency stance.
Price Action: At the time of writing, Bitcoin was exchanging hands at $63,484.20, down 1.88% in the last 24 hours, according to<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.."> data from Benzinga Pro</a>.
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39852891/bitcoin-bull-dave-portnoy-foresees-king-cryptos-surge-if-trump-triumphs-in-november-electi">Bitcoin Bull Dave Portnoy Foresees King Crypto&#8217;s Surge If Trump Triumphs In November Election: &#8216;It&#8217;s Gonna Rip&#8217;</a></li>
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Image Via Shutterstock

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

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MSTR

Bitcoin Now Political Force, Says Michael Saylor Reacting To Video Of Trump's Pro-Crypto VP Pick JD Vance

Editor&#8217;s Note: This story has been updated with additional details. 
A widespread Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) cloud service disruption on Thursday led to the grounding and cancellation of flights for several airlines, including Frontier Group Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULCC#NASDAQ">ULCC</a>), Allegiant Travel Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALGT#NASDAQ">ALGT</a>), and Sun Country Airlines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNCY#NASDAQ">SNCY</a>).
What Happened: Microsoft reported issues with its cloud services in the Central U.S. region, which significantly impacted the operations of several airlines, Reuters reported on Friday. 
The low-cost carriers, including Frontier Airlines, Allegiant, and Sun Country, experienced outages that affected their day-to-day operations.
Frontier Airlines confirmed that a &#8220;major Microsoft technical outage&#8221; had temporarily disrupted its operations. On the other hand, Sun Country pointed to a third-party vendor that affected its booking and check-in facilities, without naming the company. Allegiant&#8217;s website was also affected, leading to its unavailability.
As a result, Frontier Airlines had to cancel 147 flights and delay 212 others on Thursday. Allegiant and Sun Country also experienced significant disruptions, with 45% and 23% of their flights delayed, respectively. American Airlines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>), Delta Airlines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), and United Airlines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) also grounded their flights. 
See Also: <a href="https://www.benzinga.com/markets/equities/24/07/39813495/why-key-apple-nvidia-supplier-tsmcs-shares-are-plunging-in-wednesdays-premarket?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Why Key Apple, Nvidia Supplier TSMC&#8217;s Shares Are Plunging In Wednesday&#8217;s Premarket</a>
Microsoft&#8217;s outage began at approximately 6 p.m. ET on Thursday, affecting a subset of its customers with issues in multiple Azure services in the Central U.S. region. Azure is a cloud computing platform that offers services for building, deploying, and managing applications and services.
The Alaska State Troopers confirmed, as <a href="https://www.nytimes.com/live/2024/07/19/business/global-tech-outage">reported</a> by The New York Times, that call centers for 911 and non-emergency lines in Alaska were affected by "a nationwide technology-related outage."
The LSE Group, which operates the London Stock Exchange, has reported a global technical issue that is preventing news publication. In Asia, Japanese users began experiencing glitches with Microsoft 365, the company's internet-based office software suite, in the afternoon. Additionally, airlines at Mumbai and Hong Kong airports had to revert to manual passenger check-ins, <a href="https://www.bloomberg.com/news/articles/2024-07-19/microsoft-cloud-service-issues-disrupt-air-travel-operations">according</a> to a Bloomberg report.
These disruptions followed Microsoft&#8217;s recent announcement that it had resolved an Azure cloud services outage. Prior to this, Microsoft&#8217;s status pages indicated that both Azure and Microsoft 365 had faced problems for several hours.
Why It Matters: This is not the first time Microsoft has faced issues with its cloud services. In January 2023, Microsoft 365 experienced a global outage that impacted services like Teams, Outlook, and Xbox Live. The company later identified a <a href="https://www.benzinga.com/news/23/01/30563549/microsoft-365-services-down-globally-for-hours-company-says-rolled-back-a-network-change">potential networking issue</a>.
Microsoft&#8217;s cloud services have also been subject to scrutiny. In May, a Spanish <a href="https://www.benzinga.com/news/24/05/38669008/microsoft-faces-scrutiny-over-cloud-practices-as-spanish-startup-association-files-complaint-all-com">startup group filed a complaint</a> against Microsoft&#8217;s cloud practices, alleging that the tech giant was using its dominant position to force the adoption of its Azure cloud. This complaint adds to the challenges faced by Microsoft&#8217;s rapidly expanding cloud computing services.
In its annual sustainability report in May, Microsoft reported a <a href="https://www.benzinga.com/news/24/05/38875696/microsofts-ai-ambition-and-data-center-growth-side-effects-emissions">nearly 30% increase in emissions</a> since 2020, primarily driven by the expansion of data centers required for AI and cloud computing.
Price Action: Microsoft Corp&#8217;s stock closed at $440.37 on Thursday, down 0.71% for the day. In after-hours trading, the stock rose 0.28%. Year to date, Microsoft shares have gained 18.74%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/07/39787824/as-trumps-chances-of-presidency-improve-analysts-say-his-return-to-white-house-could-boost-these-3-s?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">As Trump&#8217;s Chances Of Presidency Improve, Analysts Say His Return To White House Could Boost These 3 Sectors</a></li>
</ul>
Image Via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Equities

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ALGT

SNCY

ULCC

Microsoft Outage Wreaks Havoc On World As 911, International Airlines, Banks And Airport Services Disrupted (UPDATED)

Former White House Communications Director Anthony Scaramucci weighed in on <a href="https://www.benzinga.com/general/politics/24/07/39780777/trump-picks-senator-j-d-vance-as-running-mate-musk-says-great-choice-for-vp">Republican nominee Donald Trump&#8217;s running mate </a>Sen. J.D. Vance (R-Ohio) in the latest Rest Is U.S. Politics episode aired on Tuesday.
Vance&#8217;s Positives And Pitfalls: Vance is a very smart human being, having been the editor of the Yale Law Journal, he was a U.S. Marine and served in the Gulf for the U.S.,<a href="https://www.youtube.com/watch?v=zx4SRkRbkkk"> said</a> Scaramucci in the podcast. The businessman noted that Sen. Mitt Romney (R-Utah) said the person that he has the least amount of respect for in American politics is Vance, reasoning that Trump&#8217;s VP pick is now wedded to his political ambition and the personal power and trappings that come with that as opposed to the principles he started with.
&#8220;What JD Vance stood for was something totally different,&#8221; Scaramucci said. He noted that people like Vance wanted to devalue the dollar further to boost domestic manufacturing. &#8220;That would be an economic disaster for the United States and an economic disaster for the world,&#8221; he said.
&#8220;He wants to disengage the United States from Europe he wants to like the Steve Bannons of the world wall it off from the rest of the world and see if we can internally drive our consumption and manufacturing here in our country,&#8221; he added.
Scaramucci, the founder of SkyBridge Capital, suggested that Trump&#8217;s narcissism may have been the reason behind his choice of running mate. &#8220;The one thing about Trump is the narcissism is so pure, he does not want anybody &#8230;.to take any credit or any potential add to his electoral outcome,&#8221; he said.
The ex-White House aide said Vance is going to be &#8220;annihilated by Donald Trump because he is smarter than Donald Trump.&#8221; Trump wouldn&#8217;t mind his running mate being younger than him as he gets insecure in his peer group and does better with people who are younger than him as they are generally intimidated by him.
 The fact that Vance is smarter than Trump will grate on the former president over time, Scaramucci said. &#8220;If Trump does win I see an isolated JD Vance in the office of the presidency,&#8221; he said. 
See Also: <a href="https://www.benzinga.com/news/24/07/39854007/trump-says-he-will-end-the-electric-vehicle-mandate-on-day-one-days-after-tesla-ceo-elon-musks-endor">Trump Says He Will &#8216;End The Electric Vehicle Mandate On Day One&#8217; Days After Tesla CEO Elon Musk&#8217;s Endorsement, Says UAW Chief Should Be &#8216;Fired Immediately&#8217;</a>
Why It&#8217;s Important: Vance&#8217;s candidacy for the GOP ticket has been cheered by voters. A recent CBS News-YouGov poll showed that <a href="https://dash.parsely.com/benzinga.com/posts/b46QOnla8D9-biden-vs-trump-ex-president-takes-commanding-national-lead-as-democratic-support-for-incumbent/?minutes=10">Vance's addition was welcomed by Republican voters, </a>with 51% saying they are enthusiastic, 43% are satisfied and only 6% are angry/dissatisfied.
Trump&#8217;s VP pick recently raised eyebrows when he made a U-turn by <a href="https://www.benzinga.com/general/politics/24/07/39849457/trump-vp-pick-j-d-vance-praises-elon-musk-a-throwback-to-an-older-generation-of-american-entrepr">praising Tesla chief Elon Musk, </a>saying that &#8220;Elon is actually a good example of an American entrepreneur who&#8217;s built a company, but also a company that&#8217;s employed a lot of good American workers.&#8221;
This is despite his anti-electric vehicle stance and his call for withdrawing federal tax incentives for these alternative energy vehicles.
Trump has managed to push ahead in the 2024 presidential race after being locked in a neck-to-neck battle with President Joe Biden for much of the period in the current presidential cycle.
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Image via Wikimedia Commons/ Gage Skidmore

Media

Anthony Scaramucci Says JD Vance's Quest To Wall US Off From Rest Of World Could Be An Economic Disaster: 'He's Going To Be Annihilated By Donald Trump Because He Is...'

WIIM

CrowdStrike shares are trading lower after the company suffered major outage impacting businesses around the world.

A recent update to a service by cybersecurity firm Crowdstrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>), has been causing Microsoft Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Windows PCs to crash, displaying the Blue Screen of Death (BSOD) and rendering them unable to reboot.
This comes at a time when Microsoft&#8217;s cloud services are also witnessing a <a href="https://www.benzinga.com/markets/equities/24/07/39853528/microsoft-cloud-outage-grounds-flights-disrupts-operations-of-frontier-allegiant-and-sun-country">widespread outage affecting</a> banks, airlines, and broadcasters worldwide.
What Happened: The issue has been reported by several Windows users, with the cause being identified as a file named &#8220;csagent.sys,&#8221; which is disrupting critical services. CrowdStrike has acknowledged the problem and is working on a solution, The Register <a href="https://www.theregister.com/2024/07/19/crowdstrike_falcon_sensor_bsod_incident/">reported</a> on Friday.
"We&#8217;re seeing BSOD Org wide that are being caused by csagent.sys, and it&#8217;s taking down critical services. I&#8217;ll open a ticket, but this is a big deal," wrote a user on X.
The &#8220;blue screen of death&#8221; issue refers to a screen showing a critical error wherein the Windows operating system fails to operate safely due to a system crash. This could be due to hardware or software issues.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Hey <a href="https://twitter.com/CrowdStrike?ref_src=twsrc%5Etfw">@CrowdStrike</a> Can you guys maybe review/pull this latest patch you released? We&#39;re seeing BSOD Org wide that are being caused by csagent.sys, and it&#39;s taking down critical services. I&#39;ll open a ticket, but this is a big deal.
&mdash; Kevin McCurdy (@McCurdy1987) <a href="https://twitter.com/McCurdy1987/status/1814164537815585049?ref_src=twsrc%5Etfw">July 19, 2024</a></blockquote>
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Despite the acknowledgment in an apparent screenshot, the advisory issued by CrowdStrike is only accessible to its customers, leaving others in the dark about the situation. The Falcon Sensor, which is designed to protect systems from cyber threats, is currently being identified as the threat itself.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It&#39;s confirmed !! Crowdstrike Issue Guys, they are working on it, in about maybe 45 mins things will be fix <a href="https://twitter.com/hashtag/csagent?src=hash&amp;ref_src=twsrc%5Etfw">#csagent</a> <a href="https://twitter.com/hashtag/crowdstrike?src=hash&amp;ref_src=twsrc%5Etfw">#crowdstrike</a> <a href="https://twitter.com/hashtag/BSOD?src=hash&amp;ref_src=twsrc%5Etfw">#BSOD</a> <a href="https://t.co/0mkfRbUAF8">pic.twitter.com/0mkfRbUAF8</a>
&mdash; Xaaavier_8613 (@Xaaavier_8613) <a href="https://twitter.com/Xaaavier_8613/status/1814180533108400569?ref_src=twsrc%5Etfw">July 19, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/equities/24/07/39815808/elon-musk-claps-back-after-gavin-newsom-shares-donald-trumps-drop-to-your-knees-and-beg-post-abo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Claps Back After Gavin Newsom Shares Donald Trump&#8217;s &#8216;Drop To Your Knees And Beg&#8217; Post About Tesla CEO From 2022: &#8216;You Never Get Off Your Knees&#8217;</a>
Meanwhile, in Australia, a widespread cyber outage affecting media, banks, and telecom companies has been linked to a technical issue at CrowdStrike, as per a statement from the office of Australia&#8217;s National Cyber Security Coordinator Michelle McGuinness. 
He said in a post on X, &#8220;I am aware of a large-scale technical outage affecting a number of companies and services across Australia this afternoon." 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I am aware of a large-scale technical outage affecting a number of companies and services across Australia this afternoon. Our current information is this outage relates to a technical issue with a third-party software platform employed by affected companies.
&mdash; National Cyber Security Coordinator (@AUCyberSecCoord) <a href="https://twitter.com/AUCyberSecCoord/status/1814183822692598205?ref_src=twsrc%5Etfw">July 19, 2024</a></blockquote>
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Although the statement did not explicitly name CrowdStrike as the source of the issue, the Downdetector website showed outages at multiple banks and telecom companies. 
Crowdstrike and Microsoft did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
Why It Matters: The faulty update from CrowdStrike has had a significant impact, with thousands of Windows machines experiencing the BSOD issue. This has led to a global outage, affecting various industries, including banks, airlines, and broadcasters.
A recent Microsoft cloud service disruption in the Central U.S. region significantly impacted the <a href="https://www.benzinga.com/markets/equities/24/07/39853528/microsoft-cloud-outage-grounds-flights-disrupts-operations-of-frontier-allegiant-and-sun-country">operations of several airlines</a>, including Frontier Group Holdings Inc., Allegiant Travel Company, and Sun Country Airlines.
This incident, combined with the CrowdStrike update issue, highlights the potential vulnerabilities in the technology infrastructure that underpins critical industries.
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Photo courtesy: Wikimedia
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Windows PCs Crash Worldwide With Users Experiencing Blue Screen Of Death Issue, CrowdStrike Update Likely Reason

Cybersecurity Giant CrowdStrike Hit By Significant Outage Impacting Businesses Globally

EV giant Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) on Thursday hiked prices of all variants of its more premium offerings Model S and Model X in the U.S.
What Happened: While the Model X SUV now starts at $79,990 on Tesla&#8217;s website, the Model S sedan starts at $74,990. The starting price on the Plaid versions of the two vehicles has also been increased by $2000. 
The new prices are now as follows:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Model and Variant</td>
<td>New Pricing</td>
<td>Old Pricing </td>
</tr>
<tr>
<td>Model X All-Wheel Drive</td>
<td>$79,990</td>
<td>$77,990</td>
</tr>
<tr>
<td>Model X Plaid</td>
<td>$94,990</td>
<td>$92,990</td>
</tr>
<tr>
<td>Model S All-Wheel Drive</td>
<td>$74,990</td>
<td>$72,990</td>
</tr>
<tr>
<td>Model S Plaid</td>
<td>$89,990</td>
<td>$87,990</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Source: Tesla</figcaption></figure>
Why It Matters: Tesla <a href="https://www.benzinga.com/markets/equities/24/04/38345362/tesla-slashes-model-s-x-and-y-prices-in-us-by-2-000-in-late-friday-move-as-volume-growth-turns-n">cut prices on these vehicles</a> by $2,000 in April ahead of the company&#8217;s first-quarter earnings in April. The prices have now been restored to their start-of-the-year values in the run-up to the company&#8217;s second-quarter earnings scheduled for July 23.
The Model S and X are Tesla&#8217;s more premium vehicle offerings together with its <a href="https://www.benzinga.com/topic/cybertruck">stainless steel Cybertruck</a>. In the second quarter, Tesla sold 21,551 units of Model S, X, and Cybertruck cumulatively, accounting for merely 5% of the company&#8217;s overall global deliveries. 95% of Tesla&#8217;s deliveries are of its mass-market offerings- Model 3 sedan and the Model Y SUV.
The company <a href="https://www.benzinga.com/markets/equities/24/07/39595720/tesla-deliveries-fall-for-second-straight-quarter-but-stock-takes-off-as-q2-numbers-exceed-expec">delivered 443,956 vehicles</a> in the second quarter worldwide, marking a 4.8% drop from last year.
Price Action: Tesla shares closed up 0.3% at $249.23 on Thursday. The stock is up just 0.3% year-to-date, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro.</a>
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
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</ul>
Photo courtesy: Tesla

TSLA

Tesla Hikes Prices By $2,000 On Model S, X Variants In The US: Here Are The New Prices

After a 15-month hiatus, Tucker Carlson, the former Fox News host, has <a href="https://www.benzinga.com/news/23/05/32307471/elon-musk-on-tucker-carlsons-twitter-show-not-signed-a-deal-all-creators-follow-same-rules-and-rewar">made an appearance</a> on the network, featuring in its coverage of a Republican National Convention speech.
What Happened: On Thursday, Carlson&#8217;s reappearance was underscored by an 11-minute speech in Milwaukee, where he lauded the Republican presidential nominee Donald Trump, <a href="https://apnews.com/article/tucker-carlson-fox-republican-convention-f9b596b80222e5c0024fdbc00ce9acdd">reported</a> the Associated Press.
The network aired Carlson&#8217;s speech during prime time, and his replacement, Jesse Watters, commented on the situation, saying, "That was Tucker Carlson&#8221; — &#8220;You may remember him from the 8 o'clock hour here," according to the report.
Carlson was let go from Fox News a week after the network agreed to <a href="https://www.benzinga.com/news/23/04/31962215/tucker-carlson-parts-ways-with-fox-news-amid-787m-settlement-with-dominion">pay over&nbsp;$787 million to settle</a> a&nbsp;lawsuit with Dominion Voting Systems. The network did not disclose a <a href="https://www.benzinga.com/general/entertainment/23/05/32430063/tucker-carlson-under-contract-by-fox-still-will-media-giant-block-new-twitter-show">reason for his dismissal</a>, sparking widespread speculation at the time.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/07/39790358/production-delays-force-apple-to-skip-tsmcs-2nm-chip-for-iphone-17-report?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Production Delays Force Apple To Skip TSMC&#8217;s 2nm Chip For iPhone 17: Report</a>
After leaving Fox,&nbsp;Carlson started his online&nbsp;network and conducted a series of <a href="https://www.benzinga.com/news/24/02/37043606/analysis-ukraine-trump-musk-and-more-takeaways-from-tucker-carlsons-interview-with-vladimir-putin">interviews with notable</a> conservative figures like Donald Trump and Russian President Vladimir Putin. 
He posted these interviews on Elon Musk&#8217;s social media platform X, formerly Twitter. The <a href="https://www.benzinga.com/topic/tucker-carlson">conservative political host</a>, who has 13.2 million followers on X, frequently posts his videos on the platform.
However, his influence has not been on par with his time at Fox News, the report noted. 
Why It Matters: The former Fox News host is known for making some controversial statements like suggesting <a href="https://www.benzinga.com/news/24/04/38357333/elon-musk-reacts-to-tucker-carlson-saying-theres-ton-of-evidence-that-aliens-live-among-us-with-6000">the existence of aliens</a> amongst us. 
His alien theory was earlier debunked by Musk who said, &#8220;I have seen no evidence for aliens and, with ~6000 satellites orbiting Earth, I think I would know.&#8221;
Carlson has also been active on the speaking circuit, recently completing a tour in Australia and <a href="https://www.benzinga.com/general/entertainment/24/06/39468459/tucker-carlson-tour-features-guest-celebrities-like-kid-rock-marjorie-taylor-greene-donald-">planning a U.S. tour in September</a>. &#8220;The United States is going to be one intense place this fall moving into this presidential election,&#8221; Carlson said in June.
Photo by L.E.MORMILE on Shutterstock
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</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Tucker Carlson Reappears On Fox News 15 Months After Getting Fired And Launching His Own Show On Elon Musk's X

The stock market may be on the brink of a significant correction, according to a leading market expert. Craig Johnson, the chief market technician at Piper Sandler, has issued a warning about the future of the &#8220;Magnificent Seven&#8221; stocks.
What Happened: Johnson, in a recent appearance on CNBC&#8217;s Last Call, raised concerns about the future of the Magnificent Seven companies, which includes Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), and Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>).
Johnson highlighted concerning patterns in the stock charts, including lower highs in Nvidia and a gap down in Apple and Microsoft. &#8220;These charts are rolling over, and they need to correct further,&#8221; he said.
He also expressed skepticism about the potential for small-cap stocks to continue outperforming large-cap stocks, a trend seen in 1984, 2002, and 2003.
<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">&quot;Are the Mag 7 breaking down?&quot; asks <a href="https://twitter.com/SullyCNBC?ref_src=twsrc%5Etfw">@SullyCNBC</a>. &quot;Yes,&quot; says <a href="https://twitter.com/Piper_Sandler?ref_src=twsrc%5Etfw">@Piper_Sandler</a>&#39;s Craig Johnson. &quot;These charts are rolling over, and they need to correct further.&quot; <a href="https://twitter.com/search?q=%24AAPL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAPL</a> <a href="https://twitter.com/search?q=%24MSFT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSFT</a> <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a> <a href="https://t.co/lmRDHmOA55">pic.twitter.com/lmRDHmOA55</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1813721206551433476?ref_src=twsrc%5Etfw">July 17, 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/markets/equities/24/07/39837493/trump-says-taiwan-should-pay-for-its-defense-to-us-but-if-china-invades-taipei-it-will-be-catast?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Says Taiwan Should Pay For Its Defense To US, But If China Invades Taipei, It Will Be &#8216;Catastrophic&#8217; For American Economy, Says Analyst: &#8216;It&#8217;s Dark And It&#8217;s High Stakes&#8217;</a>
Why It Matters: Johnson&#8217;s warning comes amid a series of events that have raised concerns about the stability of the stock market. In June, he pointed out several &#8220;warning flags&#8221; in the market, suggesting a potential market pullback, despite the <a href="https://www.benzinga.com/top-stories/24/06/39365183/warning-flags-expert-says-nvidia-in-bubble-ish-territory-points-to-potential-market-pullback">historic performance</a> of the SPDR S&amp;P 500 ETF Trust‘s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) in 2024.
Meanwhile, Cathie Wood, the CEO of ARK Invest, has predicted a potential shift in the equity market, favoring small-cap stocks over large-cap tech companies due to the current &#8220;restrictive&#8221; <a href="https://www.benzinga.com/markets/equities/24/07/39830547/why-cathie-wood-is-betting-on-small-cap-stocks-triumphing-over-magnificent-six-amid-restrictive-">monetary policy</a> of the Federal Reserve.
On the other hand, Nvidia and other <a href="https://www.benzinga.com/government/24/07/39816230/whats-going-on-with-nvidia-amd-and-semiconductor-peer-stocks-on-wednesday">semiconductor stocks</a> have been affected by the U.S.&#8217;s intensified semiconductor sanctions against China, raising concerns about the future of the tech industry.
Small-cap stocks have been on a remarkable streak. The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) surged over 1.9% this week, driven by speculation about rate cuts following <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39797464/small-caps-are-having-a-moment-russell-2000-notches-best-5-day-rally-in-over-4-year">lower-than-expected June inflation data</a>.
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</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

AAPL

AMZN

GOOG

GOOGL

NVDA

Nvidia, Apple, And Microsoft May Face Potential Correction, Warns Expert, Points At Concerning Chart Patterns For 'Magnificent Seven' Stocks

Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google has revealed its upcoming Pixel 9 flagship smartphones before they can be leaked yet again. This time around, the search giant also has a foldable phone in the mix.
What Happened: Google has officially introduced the Pixel 9 Pro, following a string of hands-on videos and comparisons with other recent phones.
Google plans to reveal more about the Pixel 9 lineup, along with its other forthcoming devices, at an event scheduled at Google&#8217;s California headquarters on August 13.
In a promotional video, Google offered a brief preview of the Pixel 9 Pro, suggesting that AI and Gemini would be key features of the device. Google&#8217;s online store has already begun accepting sign-ups for information about the Pixel 9 Pro and has posted another image of the phone.
See Also: <a href="https://www.benzinga.com/news/24/07/39835993/apple-denies-using-youtube-videos-to-train-its-ai-features-after-report-claims-tim-cooks-company-use">Apple Denies Using YouTube Videos To Train Its AI Features After Report Claims Tim Cook&#8217;s Company Used Creators&#8217; Content Without Consent</a>
Just hours after the Pixel 9 Pro&#8217;s reveal, Google also showcased the Pixel 9 Pro Fold. This move ended speculation about the look and name of Google&#8217;s next foldable Android phone.
Recent regulatory filings and leaks indicate that Google is preparing to launch four phones soon: the Pixel 9, the Pixel 9 Pro, the Pixel 9 Pro XL, and the Pixel 9 Pro Fold.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Google's Pixel phones have usually been leaked in detail in the run-up to the eventual launch. Earlier this year, a <a href="https://www.benzinga.com/news/24/01/36754152/goodbye-curves-first-google-pixel-9-leak-reveals-an-iphone-inspired-frame-design">leak revealed</a> that the company is working on an iPhone-inspired frame design, marking a departure from the traditional design of Google&#8217;s Pixel series.
The early unveiling of these devices indicates Google&#8217;s strategy to control the narrative around its products, despite the leaks.
Google's Gemini AI will be a significant part of the company's Pixel 9 lineup, as evidenced by the <a href="https://www.benzinga.com/news/24/05/38826439/at-google-io-2024-sundar-pichai-and-team-announces-new-gemini-models-project-astra-ai-fraud-protecti">announcements at its developer conference</a>, Google I/O, in May.
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</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Google

Google Unveils Pixel 9 Pro And Teases Foldable Phone Ahead Of August Event

The Travelers Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) will release its second quarter financial results, before the <a href="https://www.benzinga.com/quote/TRV/earnings">opening bell on Friday, July 19.</a>
Analysts expect the New York-based company to report quarterly earnings at $1.98 per share, up sharply from 6 cents per share in the year-ago period. Travelers is expected to post revenue of $11.34 billion, compared to $10.32 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On April 17, Travelers reported a mixed first quarter, with earnings lagging analysts&#8217; expectations. Core income per share reached $4.69 from $4.11 a year ago, missing the $4.90 consensus forecast. Net income per share rose to $4.80 from $4.13 a year earlier.
Travelers shares fell 0.1% to close at $220.60 on Thursday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/TRV/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>TD Cowen analyst Andrew Kligerman downgraded the stock from Buy to Hold and slashed the price target from $252 to $230 on July 15. This analyst has an accuracy rate of 64%.</li>
<li>B of A Securities analyst Joshua Shanker maintained an Underperform rating and cut the price target from $214 to $202 on July 11. This analyst has an accuracy rate of 72%.</li>
<li>JP Morgan analyst Jimmy Bhullar maintained an Underweight rating and increased the price target from $220 to $242 on July 11. This analyst has an accuracy rate of 62%.</li>
<li>Citigroup analyst Michael Ward downgraded the stock from Neutral to Sell and slashed the price target from $226 to $200 on June 28. This analyst has an accuracy rate of 72%.</li>
<li>William Blair analyst Adam Klauber downgraded the stock from Outperform to Market Perform on June 28. This analyst has an accuracy rate of 68%.</li>
</ul>
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Pre-Market Outlook

Trading Ideas

Travelers Companies Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Former President Donald Trump slammed Joe Biden&#8217;s push for electrifying road transport on Thursday, the fourth and final night of the Republic National Convention in Milwaukee.
What Happened: &#8220;I will end the electric vehicle mandate on day one, thereby saving the auto industry from complete obliteration which is happening right now and saving US customers thousands and thousands of dollars per car,&#8221; Trump told the crowd gathered at Fiserv Forum. 
The mandate Trump is referring to is the Biden administration&#8217;s aim to ensure that a majority of new passenger cars and light trucks sold in the United States are all-electric or hybrids by 2032.
Call For Union President Resignation: Trump further called for the resignation of the United Auto Workers union chief Shawn Fain for what he alleged was allowing foreign EV makers to sell EVs in the country without tariffs by building factories in Mexico. 
Trump is seemingly referring to Chinese EV maker BYD&#8217;s upcoming factory in Mexico, which has been deemed by some automakers as a way to push lower-priced EVs into the U.S. market while simultaneously evading tariffs imposed on China-made EVs. BYD, however, has often reiterated that they <a href="https://www.benzinga.com/news/24/02/37327343/tesla-a-partner-and-not-competition-says-byd-chinese-firm-not-eyeing-us-market-just-yet">do not intend to enter the U.S. market</a>.
&#8220;United Auto Workers should be ashamed for allowing this to happen and the leader of the UAW should be fired immediately,&#8221; Trump said. &#8220;Every single auto worker, union and nonunion, should be voting for Donald Trump because we are going to bring back car manufacturing and we are going to bring it back fast.&#8221;
UAW <a href="https://www.benzinga.com/news/24/01/36771258/joe-biden-gets-united-auto-workers-backing-shawn-fain-says-donald-trump-blamed-the-american-worker">endorsed Joe Biden </a>for the forthcoming November election in January. 
Tariffs On Foreign Players: Trump added that foreign players must build plants in America and their vehicles should be built by American workers if they are to be sold in the country.
&#8220;If they don&#8217;t agree with us we&#8217;ll put a tariff of approximately 100% to 200% on each car and they will be unsellable in the United States. We have long been taken advantage of by other countries,&#8221; Trump said. Enforcing foreign players to build in America will also create a massive number of jobs in the country, he added.
The Biden administration has already imposed a tariff of over <a href="https://www.benzinga.com/news/24/05/39006664/elon-musk-slams-biden-administration-over-100-tariffs-on-chinese-ev-imports-things-that-distort-the">100% on electric vehicles made in China.</a>
But &#8220;I&#8217;m All For Electric&#8221;: &#8220;By the way, I&#8217;m all for electric; they have their application but if somebody wants to buy a gas-powered car, gasoline-powered car, or a hybrid they&#8217;re going to be able to do it and we&#8217;re going to make that change on day one,&#8221; Trump said while also slamming Biden administration for investing highly in putting up EV charging infrastructure. 
&#8220;AI needs tremendous- literally twice the electricity that&#8217;s available now in our country- but instead we&#8217;re spending in places where they recharge electric cars,&#8221; Trump said while also mentioning a report from The Washington Post which said that the government's $7.5 billion capital allocation to help&nbsp;build EV charging stations&nbsp;across the country resulted in <a href="https://www.benzinga.com/news/24/05/38778728/tesla-ceo-elon-musk-criticizes-biden-administrations-spending-efficiency-on-ev-charging-infrastructu">only seven operational ones as of March</a>.
U.S. EV giant Tesla Inc. CEO Elon Musk has previously talked about sharing a good relationship with Trump and slammed Biden over his age. Musk has been publicly endorsing Trump&#8217;s presidential reelection bid since Saturday after a <a href="https://www.benzinga.com/news/24/07/39764903/fbi-probes-trump-rally-shooting-as-potential-domestic-terrorism-it-appears-that-he-was-a-lone-actor">shooting incident </a>at Trump's campaign rally in Butler, Pennsylvania.
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>
Image made via photos on Shutterstock

Trump Says He Will 'End The Electric Vehicle Mandate On Day One' Days After Tesla CEO Elon Musk's Endorsement, Says UAW Chief Should Be 'Fired Immediately'

The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index moved to the &#8220;Neutral&#8221; zone on Thursday.
U.S. stocks closed lower on Thursday, with the Dow Jones index falling more than 500 points during the session.
On the economic data front, U.S. initial jobless claims increased by 10,000 to 243,000 in the week ending July 13, compared to market estimates of 230,000. The Philadelphia Fed Manufacturing Index rose to 13.9 in July, recording the strongest level in three months, versus 1.3 in June.
Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>) reported better-than-expected earnings for its second quarter on Thursday. D.R. Horton, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) reported stronger-than-expected second-quarter earnings.
Most sectors on the S&amp;P 500 closed on a negative note, with healthcare, consumer discretionary and financials stocks recording the biggest losses on Thursday. However, energy stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 533 points to 40,665.02 on Thursday. The S&amp;P 500 fell 0.78% at 5,544.59, while the Nasdaq Composite dipped 0.70% at 17,871.22 during Thursday's session.
Investors are awaiting earnings results from American Express Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>), Schlumberger Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) and Halliburton Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 50.6, the index moved to the &#8220;Neutral&#8221; zone on Thursday, versus a prior reading of 59.
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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<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Reuters recently reported that UBS (NYSE:<a href="https://investorplace.com/stock-quotes/ubs-stock-quote/">UBS</a>) intends to <a href="https://www.reuters.com/business/finance/ubs-plans-restart-share-buybacks-logs-q4-loss-2024-02-06/?utm_source=newsletter&amp;utm_medium=email&amp;utm_campaign=newsletter_axiosmarkets&amp;stream=business">resume share repurchases</a> in 2024, doing as much as $1 billion in buybacks over the next year.&nbsp;



The move is part of the reallocation of cost savings it intends to find from the purchase of Credit Suisse. The integration plan for Credit Suisse includes finding up to $13 billion in cost savings by the end of 2026.&nbsp; &nbsp;



The share repurchases will likely accelerate should its cost savings goals be met over the next three years. This possibility has got me thinking about Chinese stocks and share repurchases. Chinese stocks have been hit more than most in the past year.&nbsp;



One of the best ways to buy China Class A shares is through the iShares MSCI China A ETF (BATS:<a href="https://investorplace.com/stock-quotes/cnya-stock-quote/">CNYA</a>). It tracks the performance of domestic Chinese equities listed on the Shanghai or Shenzhen Stock Exchanges. The ETF currently has <a href="https://www.ishares.com/us/products/273318/ishares-msci-china-a-etf">564 holdings</a>.&nbsp;



Many of its holdings have the cash flow necessary to do buybacks. Here are three that should be stepping up their share repurchases in 2024.&nbsp;



<h2>China Merchants Bank (CIHKY)&nbsp;</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/bank-stocks-300x169.jpg" alt='gold building with "bank" on the front to represent banking stocks'><div>Source: Shutterstock</div></div>


China Merchants Bank (OTCMKTS:<a href="https://investorplace.com/stock-quotes/cihky-stock-quote/">CIHKY</a>) is the third-largest holding in CNYA with a 1.78% weighting. Its shares are down nearly 36% over the past year.



The Chinese bank was founded in 1987. It was the first bank to undertake business outside of the government. Today, it has 1<a href="https://english.cmbchina.com/CmbInfo/About/DetailInfo.aspx?guid=ce1230c5-de69-441a-8861-d520fe3d287c">43 branches</a>, and 1,443 sub-branches, all located in 130 mainland China cities. According to the UK trade publication TheBanker.com, it is 11th on its most recent list of the Top 1000 World Banks.&nbsp;



The bank made the news recently in a bad way. The Chinese government gave Tian Huiyu, its former president, a <a href="https://www.bloomberg.com/news/articles/2024-02-05/china-hands-ex-merchants-bank-president-suspended-death-sentence">suspended death sentence</a> over bribes and insider trading. The official verdict gave the executive a two-year suspension (converted to imprisonment if he&rsquo;s not found guilty of more crimes in that time). He was arrested in Oct. 2022. As part of his arrest, he was kicked out of the Communist Party.&nbsp;



Despite the <a href="https://www.bloomberg.com/news/articles/2023-07-10/goldman-analysts-bearish-china-bank-view-draws-fresh-criticism">negative commentary</a> from Goldman Sachs regarding Merchants Bank&rsquo;s exposure to local government financing vehicles (LGFVs), the bank says that it only had $18.3 billion in loans to LGFVs at the end of 2022, about 13% of Goldman Sachs&rsquo; estimate.&nbsp;



In the nine months ended Sept. 30, 2023, Merchants Bank had <a href="https://s3gw.cmbimg.com/lb50.01-cmbweb-prd/cmbir/20231027/88a6b583-b67b-40d4-b32e-367eafaf57b7.pdf">260.2 billion</a> Chinese yuan ($36.2 billion) in operating profits. While 1.74% lower than the same period a year earlier, it has plenty to buy back its shares.&nbsp;



In January, buybacks of China A shares (<a href="https://www.bloomberg.com/news/articles/2024-02-07/everything-china-is-doing-to-rescue-its-battered-stock-market">$2.5 billion</a>) by Chinese companies were the highest monthly amount in the past three years.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;



<h2>BYD (BYDDF)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/06/byd-1600-300x169.png" alt="BYD Company Limited logo in front of their website. BYDDY stock."><div>Source: T. Schneider / Shutterstock</div></div>


BYD (OTCMKTS:<a href="https://investorplace.com/stock-quotes/byddf-stock-quote/">BYDDF</a>) is the 10th-largest holding in CNYA with a 0.91% weighting. Its shares are down over 22% in the past year.



BYD became famous because Warren Buffett and Charlie Munger invested <a href="https://fortune.com/2023/02/16/charlie-munger-byd-stake-warren-buffett-berkshire-hathaway-china-tesla/">$230 million</a> in the Chinese automaker in 2008 when electric vehicles weren&rsquo;t even on the radar. It was Munger who pushed for Berkshire Hathaway (NYSE:<a href="https://investorplace.com/stock-quotes/brk.b-stock-quote/">BRK.B</a>), calling its founder, Wang Chuanfu, a cross between &ldquo;Thomas Edison and Jack Welch,&rdquo; Fortune reported.&nbsp;



Although Berkshire began selling down its stake in 2022, it still owns 87.6 million (8% 0f BYD) of the original 225 million shares. The holding company has long since got its initial investment back.&nbsp;&nbsp;



In January, BYD overtook Tesla (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>) to become the <a href="https://www.cnn.com/2024/01/03/cars/china-byd-explainer-tesla-intl-hnk/index.html">world&rsquo;s largest</a> seller of fully electric vehicles. Although the company doesn&rsquo;t sell any of its passenger vehicles in the U.S. yet, it does sell its electric buses, which are made in California.&nbsp;



Its vertically integrated EV business makes its own lithium iron phosphate batteries for its needs and sells the rest to other car manufacturers.



At the end of January, BYD reported a preliminary 2023 net income of between 29 billion Chinese yuan ($4.03 billion) and 31 billion ($4.31 billion). The result was just shy of the top end of its analyst estimate for the year of <a href="https://www.bloomberg.com/news/articles/2024-01-29/byd-preliminary-net-income-rises-up-to-87-but-misses-estimates">31.5 billion</a> ($4.38 billion).&nbsp;



That&rsquo;s still an impressive profit. As a result of the company&rsquo;s significant profit for the year, BYD announced a share buyback of 200 million Chinese yuan ($27.9 million) in December.&nbsp;&nbsp;



It could easily afford to do 20x the announced amount without losing sleep. I&rsquo;m sure Buffett hopes it does.&nbsp;



<h2>Haier Smart Home (HSHCY)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/11/smart_home_a_1600-300x169.jpg" alt="A hand holds a smart phone up with a fancy living room behind it."><div>Source: zhu difeng / ShutterStock.com</div></div>


Haier Smart Home&nbsp; (OTCMKTS:<a href="https://investorplace.com/stock-quotes/hshcy-stock-quote/">HSHCY</a>) is the 38th-largest holding in CNYA with a 0.43% weighting. Its shares are down more than 19% in the past year.



Haier is the largest manufacturer of household appliances in the world. It uses smart technology to improve the consumer&rsquo;s home experience. Its brands include Haier, Casarte, Leader and GE Appliances.&nbsp;



In December, the company announced acquiring Carrier Global&rsquo;s (NYSE:<a href="https://investorplace.com/stock-quotes/carr-stock-quote/">CARR</a>) commercial refrigeration business for <a href="https://www.prnewswire.com/news-releases/haier-smart-home-acquires-carriers-commercial-refrigeration-business-for-usd-640-million-302014753.html">$640 million</a>. It paid approximately 11x the business&rsquo;s 2022 earnings.&nbsp;



Carrier&rsquo;s commercial refrigeration business has over 2,000 service technicians operating in 10 countries, including the U.S. The transaction is expected to close in the second half of 2024.&nbsp;



Up until the announcement of this acquisition, Haier didn&rsquo;t have a commercial segment of its business. It does now, which enables it to grow its presence in food retail refrigeration and cold storage.&nbsp;



In the first nine months ended Sept. 30, Haier had an operating cash flow of <a href="https://smart-home.haier.com/en/gpxx/?id=stock_structure&amp;spm=inverstor.31583_pad.irheader_20200506_2.3">13.2 billion</a> Chinese yuan ($1.83 billion), up from 11.3 billion ($1.57 billion) in the same period in 2022. Its free cash flow in the first three quarters was 7.13 billion Chinese yuan ($990 million).&nbsp;



In April 2023, its board approved a share repurchase program of 3.0 billion Chinese yuan ($420 million) over the next 12 months. With an annualized free cash flow of $1.32 billion, it has plenty to make the buys. However, the program put a ceiling of 32 Chinese yuan ($4.45) a share on the buyback.&nbsp;



As of Sept. 30, 2023, it repurchased 40.41 million A shares for 921.83 million Chinese yuan ($128.1 million), or 22.81 Chinese yuan ($3.17) per share.&nbsp;



It&rsquo;s likely to complete the minimum buyback required by the authorization of 1.5 billion Chinese yuan ($210 million) before the April 2024 deadline.&nbsp;&nbsp;&nbsp;&nbsp;



On the date of publication, Will Ashworth 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://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Will Ashworth has written about investments full-time since 2008. Publications where he&rsquo;s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/02/3-china-stocks-that-should-start-buybacks-right-now/">3 China Stocks That Should Start Buybacks Right Now</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 China Stocks That Should Start Buybacks Right Now

BYDDY

CARR

CIHKY

CNYA

CTRYF

CTRYY

DKILF

DKILY

EGRNF

FJTSF

FJTSY

HISEF

HRSHF

HSHCY

PCRFF

PCRFY

QIHCF

Press Releases

Carrier Announces Agreement to Sell Carrier Commercial Refrigeration to Haier

Haier Smart Home Acquires Carrier's Commercial Refrigeration Business for USD 640 million

Contracts

Haier Smart Home Intends to Acquire Electrolux South Africa's Water Heater Business

Haier Smart Home

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