Hygeia Healthcare Holding Stock (OTC: HYHHF)

Latest news for Hygeia Healthcare Holding (OTC:HYHHF) Stock

Hygeia Healthcare Holdings Co Ltd is an oncology healthcare group in China. The company operates in two segments, namely Hospital Business, and Other Business. The company generates revenues by operating private for-profit hospitals it owns and provides a wide range of oncology healthcare services and other healthcare services; licensing of its proprietary SRT equipment, and provision of maintenance and technical support services with its proprietary SRT equipment; and managing and operating, and receiving management fees from, private not-for-profit hospitals in which it holds organizer's interest. All of its revenues come from China.

HYGEIA HEALTHCARE HOLDING by HYGEIA HEALTHCARE HOLDINGS CO LTD.

Hygeia Healthcare Holdings Co Ltd

RBC Capital analyst Luca Issi initiates coverage on Avidity Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RNA#NASDAQ">RNA</a>) with a Outperform rating and announces Price Target of $67.

News

Price Target

Initiation

Analyst Ratings

RBC Capital Initiates Coverage On Avidity Biosciences with Outperform Rating, Announces Price Target of $67

In a recent investor webinar,&nbsp;Cathie Wood&nbsp;shared her perspective on how a potential second term for&nbsp;Donald Trump&nbsp;might influence the IPO market. 
What Happened: Wood expressed optimism about the future direction of the market.
&#8220;If the market continues to move forward in the way we believe it will…we believe that the IPO market will open up and that will give us a chance, lots of opportunities to diversify our portfolios and it will give our venture funds liquidity events that they have not enjoyed during the last four years,&#8221; she said.
Her comments, made during a session released on Friday, come at a time when the market is experiencing increased volatility that anticipated the effect of a second term of Trump on the Wall Street.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/24/11/42131413/gop-megadonor-ken-griffin-is-open-to-the-possibility-of-selling-minority-stake-in-citadel?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">GOP Megadonor Ken Griffin Is &#8216;Open To The Possibility&#8217; Of Selling Minority Stake In Citadel</a>
Why It Matters: Wood&#8217;s comments <a href="https://www.benzinga.com/markets/24/11/42054299/chamath-palihapitiya-says-dont-expect-crazy-ma-deals-in-2025">contrast that of investor</a> Chamath Palihapitiya who feels that there won&#8217;t be the mega IPOs expected.
&#8220;The IPO market is what the IPO market is. And if the 10 year is back to 4.5-5%, that&#8217;s not a compelling strategy for some SaaS company or some internet business that didn&#8217;t take an opportunity to go public when rates were at zero. So if you just look mathematically at what the actual fair value of these companies should be, I don&#8217;t know, it&#8217;s not like such a great IPO market,&#8221; he said during one of the recent episodes of the All-In Podcast.
Investors are keenly observing which of<a href="https://www.benzinga.com/markets/24/11/41869001/heres-how-trumps-policies-might-shape-the-markets-future"> Trump&#8217;s campaign promises</a> might translate into policy actions. While some pledges, like reducing corporate taxes and deregulation, could benefit the economy and stock prices, others, such as strict immigration policies and high tariffs, might pose economic challenges.
Former Treasury Secretary&nbsp;Larry Summers&nbsp;has warned that Trump&#8217;s proposed economic policies could lead to significant economic disruption. In a&nbsp;<a href="https://www.benzinga.com/news/global/24/11/42180906/larry-summers-warns-trump-policies-could-trigger-far-larger-stimulus-to-inflation-than-bidens-actions-as-sp-500-surges-markets-go-up-markets-go-down">recent interview</a>, Summers expressed concerns about the potential for a massive demand-side stimulus and substantial supply-side disruptions. He emphasized that if implemented, Trump&#8217;s program could result in a larger inflation stimulus than any measures enacted by President&nbsp;Joe Biden.
Price Action: Meanwhile, S&amp;P 500 and NASDAQ tracked by SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) have gained 2.88% and 2.26% respectively, in the month of November. 
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42152520/dogecoin-whales-move-214-5m-in-a-single-day-sparking-speculation?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Whales Move $214.5M In A Single Day, Sparking Speculation</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 Ark Invest

Analyst Color

IPOs

Markets

General

Cathie Wood Bets On Thriving IPO Market Under Trump: 'Will Give...Liquidity Events That They Have Not Enjoyed During The Last Four Years'

Cryptocurrency markets are on the cusp of a potentially transformative period, with leading analysts forecasting a significant surge in alternative cryptocurrencies driven by complex <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42179986/bitcoin-dogecoin-reverse-ethereum-gains-as-stocks-touch-new-peaks-top-analyst-anticipates-no-major-correction-for-btc-until-135k">economic indicators and market sentiment</a>.
What Happened: Mikybull, a prominent crypto trader, offered an intricate market perspective on X, emphasizing that if Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) continues hovering around the $95,000-$94,000 range, alternative cryptocurrencies will likely experience substantial performance. 
He boldly <a href="https://x.com/MikybullCrypto/status/1861286914227052863">proclaimed</a> that the &#8220;Altcoins dominance&#8221; has climbed above the trend ribbon, signaling an impending outperformance in the coming weeks.
The trader further predicted that Ethereum&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) next rally to $6,000 has already commenced, suggesting that the &#8220;Altseason storm&#8221; is about to reach its next intensity level. This forecast comes amid a dynamic market landscape where cryptocurrencies are responding to nuanced economic signals.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> next wave of rally to $6k has begun.<a href="https://twitter.com/hashtag/ALTSEASON?src=hash&amp;ref_src=twsrc%5Etfw">#ALTSEASON</a> next level of storm in this cycle is about to kick off. <a href="https://t.co/ojX0sMKBo7">pic.twitter.com/ojX0sMKBo7</a>
&mdash; Mikybull &#x1f402;Crypto (@MikybullCrypto) <a href="https://twitter.com/MikybullCrypto/status/1860991317532193175?ref_src=twsrc%5Etfw">November 25, 2024</a></blockquote>
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Michaël van de Poppe, another crypto analyst, provided deeper insights into Ethereum&#8217;s remarkable performance. He highlighted a &#8220;massive bullish divergence&#8221; in Ethereum&#8217;s market behavior, directly linking its outperformance to dropping government bond yields. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The sole reason that <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> started to move so significantly is due to the impact of the Yield markets on Ethereum. Next week is Labor market week, if that&#39;s going to be bad, then likely the FED will do more rate cuts &#8211;&gt; yields drop &#8211;&gt; <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> up. <a href="https://t.co/JddKoGSrUv">pic.twitter.com/JddKoGSrUv</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1861122683808948482?ref_src=twsrc%5Etfw">November 25, 2024</a></blockquote>
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Poppe emphasized that the sole reason for Ethereum&#8217;s significant movement is the impact of yield markets, creating a complex interplay between traditional financial instruments and digital assets.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42179986/bitcoin-dogecoin-reverse-ethereum-gains-as-stocks-touch-new-peaks-top-analyst-anticipates-no-major-correction-for-btc-until-135k">Bitcoin, Dogecoin Reverse, Ethereum Gains As Stocks Touch New Peaks: Top Analyst Anticipates No &#8216;Major&#8217; Correction For BTC Until $135K</a>
Looking ahead, Poppe anticipates that the upcoming Labor Market Week could be pivotal. He suggests that potentially weak labor market data might prompt the Federal Reserve to implement more rate cuts, consequently driving down yields and potentially propelling Ethereum&#8217;s valuation.
Why It Matters: Current market data from the CME FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a> indicates shifting rate cut probabilities. The likelihood of a rate cut at the Dec. 18 Federal Reserve meeting has decreased to 55.9% from 74.6% a month ago, with the current federal funds rate sitting between 450-475 basis points.
The cryptocurrency landscape has witnessed notable movements, with Ethereum <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42179986/bitcoin-dogecoin-reverse-ethereum-gains-as-stocks-touch-new-peaks-top-analyst-anticipates-no-major-correction-for-btc-until-135k">breaking past $3,500 for the first time</a> in four months. This rally triggered strong inflows into Ether spot exchange-traded funds, totaling $283,000, while Bitcoin ETFs experienced outflows exceeding $684 million.
Traders define &#8220;Altcoin Season&#8221; as a period when 75% of <a href="https://www.benzinga.com/24/11/42030200/bitcoin-dominance-decline-expected-next-month-analyst-projects-altseason-to-peak-by-march-2025">alternative cryptocurrencies outperform Bitcoin</a>—a threshold that indicators suggest that the market may be rapidly approaching.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42022585/michael-van-de-poppe-says-bitcoin-ethereum-and-altcoins-close-to-the-point-where-investors-can-buy-the-dip">Crypto Billionaire Justin Sun Pledges $30M Investment In Trump-Backed World Liberty Financial: What&#8217;s Happening?</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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

Cryptocurrency

$BTC

$ETH

'Altseason Storm' Is Intensifying, Says Prominent Crypto Trader, Ethereum Begins Rally To $6K As Bitcoin Consolidates

HSBC analyst Saul Martinez downgrades Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) from Buy to Hold and raises the price target from $128 to $131.

Downgrades

HSBC Downgrades Morgan Stanley to Hold, Raises Price Target to $131

HSBC analyst Saul Martinez downgrades Goldman Sachs Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) from Buy to Hold and raises the price target from $569 to $608.

HSBC Downgrades Goldman Sachs Gr to Hold, Raises Price Target to $608

Needham analyst Chris Pierce reiterates TrueCar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRUE#NASDAQ">TRUE</a>) with a Buy and maintains $5 price target.

Reiteration

TRUE

Needham Reiterates Buy on TrueCar, Maintains $5 Price Target

Cloud-enabled integrated diagnostics portfolio aims to unify workflows, improve access to critical insights, and drive better outcomes for patients

AMZN

Philips And AWS Expand Strategic Partnership To Boost Healthsuite Cloud Services And Drive Generative AI Workflows

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk on Monday slammed California&#8217;s <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42175967/whats-going-on-with-tesla-stock-today-3">plans to shut the company&#8217;s electric vehicles out</a> from consumer rebates under a new proposal, calling it an &#8220;insane&#8221; decision.
What Happened: According to a Bloomberg&nbsp;report, California Governor&nbsp;Gavin Newsom&nbsp;outlined a new proposal on Monday to offer incentives for EV buyers in California if President-elect&nbsp;Donald Trump&nbsp;gets rid of the current federal $7,500 tax break for EV buyers when he returns to the White House early next year.
Newsom's team reportedly told Bloomberg that the new proposal includes "market-share limitations" that would exclude Tesla's popular EV models from tax credit eligibility.
&#8220;It&#8217;s about creating the market conditions for more of these car makers to take route,&#8221;&nbsp;the governor's office reportedly said while adding that the details could change following negotiations with the state legislature. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Even though Tesla is the only company who manufactures their EVs in California! This is insane. <a href="https://t.co/EhVeG2TYqT">https://t.co/EhVeG2TYqT</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1861145047124845054?ref_src=twsrc%5Etfw">November 25, 2024</a></blockquote>
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Musk responded to the report on social media platform X and wrote, &#8220;Even though Tesla is the only company who manufactures their EVs in California! This is insane.&#8221; The CEO added that the move would hurt jobs in California. 
U.S. representative from California&#8217;s 17th congressional district Ro Khanna also warned against the proposal in a social media post.
&#8220;Tesla makes over 550,000 vehicles in Fremont in my district &amp; employs over 20,000. Let&#8217;s not play politics with keeping manufacturing in California. It would be foolish to exclude Tesla,&#8221; Khanna wrote while also recounting the time the Biden administration kept Tesla and Musk out of a 2021 EV summit, subsequently turning the billionaire <a href="https://www.benzinga.com/news/24/11/41705641/elon-musks-mother-slams-biden-snubbing-tesla-at-ev-summit-3-years-ago-as-the-worst-thing-that-happen">towards Trump and the Republican Party</a>.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Tesla makes over 550,000 vehicles in Fremont in my district &amp; employs over 20,000. Let&#39;s not play politics with keeping manufacturing in California. It would be foolish to exclude Tesla. Have we learned nothing from snubbing <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> at the Biden EV summit? <a href="https://t.co/I0Jzx51eP7">https://t.co/I0Jzx51eP7</a>
&mdash; Ro Khanna (@RoKhanna) <a href="https://twitter.com/RoKhanna/status/1861255099684638955?ref_src=twsrc%5Etfw">November 26, 2024</a></blockquote>
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Why It Matters: Tesla makes Model 3, Y, S, and X at the Fremont factory in California. The factory has a currently installed annual vehicle capacity of over 650,000 units. 
Last month, Musk said that Tesla started manufacturing in California despite the higher cost because he lived in the state.
Tesla bought its Fremont Factory from&nbsp;Toyota Motor&nbsp;in 2010. It was previously owned by&nbsp;NUMMI, a joint venture between&nbsp;General Motors&nbsp;and Toyota which ended when GM entered bankruptcy in 2009.
Musk has long been critical of California. He moved Tesla&#8217;s headquarters from California to Austin a few years ago citing disagreements with state policies.
Price Action: Tesla stock fell nearly 4% on Monday to close at $338.59, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>. Year-to-date, the Tesla stock is up 36.3%.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/general/space/24/11/42181019/spacex-falcon-heavy-to-launch-nasas-dragonfly-mission-to-saturns-largest-moon-in-2028">SpaceX Falcon Heavy To Launch NASA&#8217;s Dragonfly Mission To Saturn&#8217;s Largest Moon In 2028</a></li>
</ul>
Photos courtesy: Shutterstock

Tech

TSLA

Elon Musk Slams California's Proposal To Shut Tesla EVs Out Of Consumer Rebates In State: 'This Is Insane'

Deutsche Bank analyst Nicole Deblase downgrades Hubbell (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUBB#NYSE">HUBB</a>) from Buy to Hold and lowers the price target from $493 to $473.

HUBB

Deutsche Bank Downgrades Hubbell to Hold, Lowers Price Target to $473

Earnings

Zhihu Q3 Adj EPADS $(0.01) Up From $(0.30) YoY, Sales $120.42M Down From $140.10M YoY

Piper Sandler analyst Brent Bracelin maintains MongoDB (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDB#NASDAQ">MDB</a>) with a Overweight and raises the price target from $335 to $425.

Piper Sandler Maintains Overweight on MongoDB, Raises Price Target to $425

Contrary to growing concerns about <a href="https://www.benzinga.com/news/global/24/11/42180906/larry-summers-warns-trump-policies-could-trigger-far-larger-stimulus-to-inflation-than-bidens-actions-as-sp-500-surges-markets-go-up-markets-go-down">potential inflationary pressures</a> under President-elect Donald Trump&#8216;s administration, top economist Steve Hanke dismisses fears of a significant price surge, citing monetary policy and money supply as critical factors.
What Happened: In a recent interview with <a href="https://www.cnbc.com/video/2024/11/25/trumps-deregulation-will-not-affect-inflation-says-professor-of-economics.html">CNBC</a>, Hanke argued that the inflation trajectory depends more on Federal Reserve actions than proposed economic policies. &#8220;All this talk about Trump&#8217;s policies causing inflation to kick up again is just nonsense,&#8221; Hanke stated.
Hanke highlighted a critical economic indicator: the U.S. money supply, which has contracted since 2022. Historically, such contractions have preceded economic downturns. &#8220;The money supply is growing at 2.6% year-over-year, below my golden growth rate of 6%,&#8221; he explained.
The economist predicts inflation will fall below the Fed&#8217;s 2% target in 2025, challenging warnings from economists like former Treasury Secretary Larry Summers, who anticipates potential inflationary risks from proposed <a href="https://www.benzinga.com/news/global/24/11/42180906/larry-summers-warns-trump-policies-could-trigger-far-larger-stimulus-to-inflation-than-bidens-actions-as-sp-500-surges-markets-go-up-markets-go-down">tax cuts and trade policies</a>.
See Also: <a href="https://www.benzinga.com/24/11/42180029/ark-invest-shakes-up-portfolio-with-big-tesla-and-amazon-trades">Cathie Wood-Led Ark Invest&#8217;s Latest Portfolio Maneuver: Dumps Tesla And Palantir Shares, Buys Amazon And AMD Stock</a>
Why It Matters: Hanke praised the potential administration&#8217;s focus on economic deregulation, suggesting it could enhance GDP growth without triggering significant inflation. He referenced Scott Bessent, Trump&#8217;s potential Treasury Secretary pick, who has proposed strategies to mitigate potential inflationary impacts.
Market indicators currently show resilience. S&amp;P 500 tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) has gained 3.61% since Nov. 5, trading at $597.53 on Monday, while Nasdaq-100 Index tracked by Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) increased 2.92% during the same period to $506.59, <a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
The potential economic shifts come amid a complex fiscal landscape, with the U.S. federal budget deficit projected to reach $1.7 trillion in 2024 and the&nbsp;<a href="https://www.benzinga.com/government/24/10/41461338/imf-upwardly-revises-us-economic-growth-but-warns-under-current-policies-the-us-public-debt-is-not-s" target="_blank" rel="noreferrer noopener">debt-to-GDP ratio approaching 120%</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42181602/dow-sp-500-reach-fresh-highs-investor-sentiment-improves-fear-greed-index-remains-in-greed-zone">Dow, S&amp;P 500 Reach Fresh Highs: Investor Sentiment Improves, Fear Index Remains In &#8216;Greed&#8217; Zone</a></li>
</ul>
Image Via Flickr 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a>

Economics

Federal Reserve

Economist Steve Hanke Brushes Off Trump Economic Worries As 'Nonsense,' Predicts Fed Will Bring Prices Below 2% In 2025

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has no immediate plans to significantly update its premium AirPods Max headphones, according to Mark Gurman.
What Happened: Taking to X, formerly Twitter, Bloomberg columnist Gurman stated that Apple could keep selling the AirPods Max headphones without any major updates for the foreseeable future.
According to him, the $550 device occupies a peculiar position: it's not successful enough to justify substantial research and development investment, yet it's not underperforming enough to discontinue.
See Also: <a href="https://www.benzinga.com/24/11/42155932/apple-black-friday-2024-get-up-to-200-in-gift-cards-on-iphones-macs-airpods-and-more-heres-everything-you-need-to-know">Apple&#8217;s 2024 Black Friday Deals: Gift Cards Over Discounts — Here&#8217;s What You&#8217;ll Get</a>
He noted the headphones still cater to a specific audience, as evidenced by their visibility in high-end gyms in cities like Los Angeles and New York.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">At this point, Apple has no real plan to meaningfully update AirPods Max. The headphones aren't a hot enough seller to justify new R&amp;D, but they're also not a big enough flop to kill them. If you've been to an overpriced gym in LA/NYC, you can see the $550 device has a market.
&mdash; Mark Gurman (@markgurman) <a href="https://twitter.com/markgurman/status/1860724463324570111?ref_src=twsrc%5Etfw">November 24, 2024</a></blockquote>
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Why It Matters: Apple's wearables, home, and accessories category saw revenue of $9.04 billion in the <a href="https://www.benzinga.com/news/earnings/24/10/41666494/apple-q4-earnings-revenue-beat-eps-beat-installed-base-hits-new-highs-iphone-sales-rise-as-apple-in">fiscal fourth quarter</a>, a slight drop from $9.32 billion in the same period last year.
While Apple leads the true wireless stereo (TWS) market with a 17% market share as of the third quarter of 2024 – this represents a sharp decline from 48.1% in 2019, signaling intensified competition, according to Statista.
Despite the lack of updates, the headphones remain a steady, albeit modest, contributor to Apple&#8217;s wearables ecosystem, which includes AirPods Pro and AirPods.
Apple continues to focus on its broader product lineup, with the iPhone leading revenue at $46.22 billion in the fourth quarter, while services revenue grew to $24.97 billion.
The Tim Cook-led company <a href="https://www.benzinga.com/news/earnings/24/10/41666494/apple-q4-earnings-revenue-beat-eps-beat-installed-base-hits-new-highs-iphone-sales-rise-as-apple-in">reported fiscal fourth-quarter revenue</a> of $94.9 billion, surpassing analyst projections of $94.56 billion, with adjusted earnings per share of $1.64, exceeding expectations of $1.60.
Price Action: Apple stock gained 1.3% on Monday to close at $232.87, but fell 0.18% in after-hours trading. Year-to-date, Apple&#8217;s shares are up 25.4%, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>, slightly underperforming the Nasdaq 100 index which is up 25.8%.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/global/24/11/42132104/huawei-to-launch-mate-70-smartphone-with-advanced-homegrown-chip-challenging-apple-in-china-amid-us-sanctions-report">Apple Faces New Challenge As Huawei Advances Domestic Chip Tech In Mate 70 Series Amid US Sanctions: Report</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Unsplash

AAPL

Apple Could Keep AirPods Max Headphones Around Without 'Meaningfully' Updating Them, Says Analyst: Here's Why

<h3>Companies Reporting Before The Bell</h3>
• Icecure Medical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICCM#NASDAQ">ICCM</a>) is projected to report quarterly loss at $0.08 per share on revenue of $708 thousand. 
• Tsakos Energy Navigation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEN#NYSE">TEN</a>) is projected to report quarterly earnings at $0.66 per share on revenue of $164.00 million. 
• Manchester United (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MANU#NYSE">MANU</a>) is expected to report quarterly loss at $0.29 per share on revenue of $194.49 million. 
• Best Buy Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>) is projected to report quarterly earnings at $1.29 per share on revenue of $9.63 billion. 
• Kohl's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KSS#NYSE">KSS</a>) is likely to report quarterly earnings at $0.27 per share on revenue of $3.71 billion. 
• JM Smucker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) is estimated to report quarterly earnings at $2.51 per share on revenue of $2.26 billion. 
• Dick's Sporting Goods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKS#NYSE">DKS</a>) is expected to report quarterly earnings at $2.69 per share on revenue of $3.03 billion. 
• Analog Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADI#NASDAQ">ADI</a>) is projected to report quarterly earnings at $1.64 per share on revenue of $2.41 billion. 
• Titan Machinery (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TITN#NASDAQ">TITN</a>) is projected to report quarterly earnings at $0.05 per share on revenue of $675.30 million. 
• Embecta (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EMBC#NASDAQ">EMBC</a>) is projected to report quarterly earnings at $0.36 per share on revenue of $276.88 million. 
• Ucloudlink Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UCL#NASDAQ">UCL</a>) is expected to report quarterly earnings at $0.07 per share on revenue of $26.70 million. 
• Zhihu (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZH#NYSE">ZH</a>) is estimated to report earnings for its third quarter. 
• Macy's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) is expected to report quarterly loss at $0.01 per share on revenue of $4.72 billion. 
• Burlington Stores (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BURL#NYSE">BURL</a>) is estimated to report quarterly earnings at $1.55 per share on revenue of $2.56 billion. 
• H World Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTHT#NASDAQ">HTHT</a>) is estimated to report quarterly earnings at $0.69 per share on revenue of $933.86 million. 
• Cadeler (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDLR#NYSE">CDLR</a>) is likely to report earnings for its third quarter. 
• Abercrombie &amp; Fitch (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>) is projected to report quarterly earnings at $2.22 per share on revenue of $1.18 billion. 
• American Woodmark (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMWD#NASDAQ">AMWD</a>) is projected to report quarterly earnings at $2.37 per share on revenue of $458.29 million. 
• Cheche Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCG#NASDAQ">CCG</a>) is projected to report earnings for its third quarter. 
• MediWound (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDWD#NASDAQ">MDWD</a>) is projected to report quarterly loss at $0.44 per share on revenue of $6.01 million. 
<h3>Companies Reporting After The Bell</h3>
• JOYY (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YY#NASDAQ">YY</a>) is expected to report quarterly earnings at $0.92 per share on revenue of $562.00 million. 
• Iris Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IREN#NASDAQ">IREN</a>) is estimated to report quarterly loss at $0.07 per share on revenue of $54.75 million. 
• 3D Sys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DDD#NYSE">DDD</a>) is expected to report quarterly loss at $0.09 per share on revenue of $113.65 million. 
• Guess (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GES#NYSE">GES</a>) is expected to report quarterly earnings at $0.37 per share on revenue of $747.44 million. 
• Pinstripes Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNST#NYSE">PNST</a>) is projected to report quarterly loss at $0.21 per share on revenue of $30.59 million. 
• Urban Outfitters (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/URBN#NASDAQ">URBN</a>) is likely to report quarterly earnings at $0.85 per share on revenue of $1.34 billion. 
• Nordstrom (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) is estimated to report quarterly earnings at $0.22 per share on revenue of $3.35 billion. 
• CrowdStrike Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) is estimated to report quarterly earnings at $0.81 per share on revenue of $983.03 million. 
• Dell Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) is estimated to report quarterly earnings at $2.06 per share on revenue of $24.72 billion. 
• Nutanix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTNX#NASDAQ">NTNX</a>) is likely to report quarterly earnings at $0.32 per share on revenue of $572.16 million. 
• Arrowhead Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARWR#NASDAQ">ARWR</a>) is expected to report quarterly loss at $0.92 per share on revenue of $58.91 million. 
• Autodesk (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) is likely to report quarterly earnings at $2.12 per share on revenue of $1.56 billion. 
• Workday (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>) is projected to report quarterly earnings at $1.76 per share on revenue of $2.13 billion. 
• Ambarella (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMBA#NASDAQ">AMBA</a>) is expected to report quarterly earnings at $0.04 per share on revenue of $79.03 million. 
• Yxt.Com Group Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YXT#NASDAQ">YXT</a>) is likely to report earnings for its third quarter. 
• Noah Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOAH#NYSE">NOAH</a>) is estimated to report earnings for its third quarter. 
• PagerDuty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PD#NYSE">PD</a>) is projected to report quarterly earnings at $0.17 per share on revenue of $116.39 million. 
• HP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>) is expected to report quarterly earnings at $0.93 per share on revenue of $14.00 billion. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Earnings Scheduled For November 26, 2024

Amid growing concerns over potential trade tensions, Tim Cook, CEO of Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) , along with other prominent American business leaders, are in China this week. Their visit coincides with the &#8216;China International Supply Chain Expo&#8217; and includes meetings with Chinese officials. This comes as the prospect of a second Donald Trump presidency raises the specter of increased tariffs on Chinese goods.
What Happened: The&nbsp;second annual &#8216;China International Supply&nbsp;Chain Expo&#8217; commenced on Tuesday, marking Cook&#8217;s third visit to China this year. This is&nbsp;his first time attending the&nbsp;expo, underscoring the importance of&nbsp;the Chinese market for Apple&#8217;s operations. In&nbsp;a video interview with Chinese&nbsp;state media, Cook emphasized Apple&#8217;s dedication to China, stating,&nbsp;&#8220;We&#8217;re very committed to China,&nbsp;that&#8217;s the reason I have&nbsp;been here three times.&#8221;
Prior to the expo, Cook and other top executives met with Chinese Premier&nbsp;Li Qiang. The meeting, as reported by&nbsp;the American Chamber of Commerce&nbsp;in China, focused on enhancing economic and trade cooperation. Representatives from companies like Corning and Rio Tinto were also present.
See Also: <a href="https://www.benzinga.com/news/global/24/11/42132984/texas-governor-mandates-state-agencies-to-divest-from-china-will-defend-and-safeguard-itself-from-any-potential-threat?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Texas Governor Mandates State Agencies To Divest From China: &#8216;Will Defend And Safeguard Itself&#8230;From Any Potential Threat&#8217;</a>
The expo, organized by the China International Exhibition Center Group, emphasizes key supply chains, including advanced manufacturing and green technology. 
Why It Matters: The backdrop to this visit is the potential for heightened trade tensions between the U.S. and China. President-elect Trump has announced plans to <a href="https://www.benzinga.com/24/11/42178994/trump-says-he-will-impose-25-tariffs-on-canada-mexico-on-first-day-of-office-and-extra-tariffs-on-china-until-they-pay-attention">impose a 25% tariff </a>on products from Mexico and Canada and an additional 10% tariff on Chinese imports. This move, intended to address issues like illegal immigration and drug trafficking, could significantly impact global markets.
China, on the other hand, has expressed a <a href="https://www.benzinga.com/startups/24/11/41944793/china-pushes-for-win-win-as-u-s-tariff-threat-looms-what-it-means-for-global-markets">desire for cooperation</a> with the U.S., advocating for &#8220;mutual respect, peaceful coexistence, and win-win cooperation.&#8221; However, a senior adviser from Beijing has warned that Trump&#8217;s proposed tariffs <a href="https://www.benzinga.com/government/regulations/24/11/42058282/trumps-tariffs-could-have-severe-consequences-for-us-defense-sector-beijing-adviser-warns">could have severe consequences</a> for the U.S. economy, particularly affecting the defense sector reliant on affordable Chinese components.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42178994/trump-says-he-will-impose-25-tariffs-on-canada-mexico-on-first-day-of-office-and-extra-tariffs-on-china-until-they-pay-attention?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Says He Will Impose 25% Tariffs On Canada, Mexico On First Day Of Office And Extra Tariffs On China Until They &#8216;Pay Attention&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Image via Shutterstock

Tim Cook Joins US Executives To Attend China Expo As Donald Trump Threatens Extra Tariffs On Sino Goods

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) executive Sendil Palani on Saturday termed the company&#8217;s direct-to-customer sales model as &#8220;an enormous challenge&#8221; hindered by laws of different states.
What Happened: &#8220;Tesla has been pursuing the direct-to-consumer model for two decades, and it has been an enormous challenge to pursue what we believe is the best model for customers,&#8221; Palani, Vice President of Finance at Tesla, said. 
<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">Tesla has been pursuing the direct-to-consumer model for two decades, and it has been an enormous challenge to pursue what we believe is the best model for customers. I spent a portion of this past week visiting our Northeast region, and was reminded about how these laws are…
&mdash; Sendil Palani (@sendilpalani) <a href="https://twitter.com/sendilpalani/status/1860408805848215696?ref_src=twsrc%5Etfw">November 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Palani was responding to comments from Rivian (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) CEO RJ Scaringe. Scaringe <a href="https://insideevs.com/news/741992/rivian-ceo-dealer-model/">told</a> InsideEVs that the direct-to-customer sales model is faced with several hardships. 
&#8220;I think you essentially have, like, lots of dealers have paid for laws that make it really hard for us to interact directly with the consumer,&#8221; he said, remarking that it is &#8220;as close as you can get to corruption.&#8221;
Why It Matters: <a href="https://www.benzinga.com/news/23/07/33417968/tesla-showroom-to-come-up-on-tribal-land-in-connecticut-to-skirt-state-ban-on-direct-sales">Certain states </a>such as Louisiana prohibit direct-to-customer sales in an attempt to protect dealers. The laws to sell to customers without dealers as middlemen differ across states and their <a href="https://www.benzinga.com/news/20/01/15160476/tesla-and-michigan-reach-settlement-for-direct-delivery-to-customers">application, too, varies.</a> 
While Tesla&#8217;s local sales and delivery teams observe restrictions on sales activities and manage deliveries through a small number of licensed locations, company customers have to travel long distances to pick up vehicles, Palani said. 
&#8220;Sadly, this is common throughout much of the country, resulting in higher costs and a worse customer experience for the affected regions,&#8221; he added. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/general/space/24/11/42181019/spacex-falcon-heavy-to-launch-nasas-dragonfly-mission-to-saturns-largest-moon-in-2028">SpaceX Falcon Heavy To Launch NASA&#8217;s Dragonfly Mission To Saturn&#8217;s Largest Moon In 2028</a></li>
</ul>
Photo courtesy: Unsplash

RIVN

Rivian CEO, Tesla Exec Slam Restrictions On Direct-To-Customer Sales: RJ Scaringe Says It Is 'As Close As You Can Get To Corruption'

Business Outlook
For the fourth quarter of 2024, UCLOUDLINK expects total revenues to be between US$25.0 million and US$30.0 million, representing an increase of 15.2% to 38.2% compared to the same period of 2023.
The above outlook is based on current market conditions and reflects the Company's preliminary estimates of market and operating conditions and customer demand.

Guidance

UCLOUDLINK Expects Q4 Revenues Of $25M-$30M Vs. $26.95M Consensus

Ucloudlink Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UCL#NASDAQ">UCL</a>) reported quarterly earnings of $0.09 per share which beat the analyst consensus estimate of $0.06 by 50 percent. This is unchanged from the same period last year. The company reported quarterly sales of $25.192 million which missed the analyst consensus estimate of $26.050 million by 3.29 percent. This is a 5.57 percent increase over sales of $23.863 million the same period last year.

Earnings Beats

Earnings Misses

Ucloudlink Group Q3 2024 GAAP EPS $0.09 Beats $0.06 Estimate, Sales $25.192M Miss $26.050M Estimate

Kohl&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KSS#NYSE">KSS</a>) will release earnings results for the third quarter, before the <a href="https://www.benzinga.com/quote/KSS/earnings">opening bell on Tuesday, Nov. 26.</a>
Analysts expect Kohl&#8217;s to report quarterly earnings at 27 cents per share. That's down from 54 cents per share a year ago. The Menomonee Falls, Wisconsin-based company projects to report quarterly revenue of $3.71 billion, compared to $3.84 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Monday, Kohl&#8217;s said Chief Executive Officer Tom Kingsbury plans to step down as CEO, effective Jan. 15, 2025.
Kohl&#8217;s shares gained 7.7% to close at $18.34 on Monday.
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/TJX/analyst-ratings">analysts have rated the company</a> &lt;/em>&lt;/a> in the recent period.
<ul>
<li>Citigroup analyst Paul Lejuez maintained a Neutral rating and cut the price target from $19 to $18 on Nov. 18. This analyst has an accuracy rate of 64%.</li>
<li>JP Morgan analyst Matthew Boss downgraded the stock from Neutral to Underweight with a price target of $19 on Aug. 29. This analyst has an accuracy rate of 67%.</li>
<li>Evercore ISI Group analyst Michael Binetii maintained an In-Line rating and cut the price target from $22 to $20 on Aug. 29. This analyst has an accuracy rate of 65%.</li>
<li>Baird analyst Mark Altschwager maintained an Outperform rating and slashed the price target from $27 to $25 on Aug. 29. This analyst has an accuracy rate of 68%.</li>
<li>Telsey Advisory Group analyst Dana Telsey maintained a Market Perform rating with a price target of $23 on Aug. 28. This analyst has an accuracy rate of 60%.</li>
</ul>
Considering buying KSS stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="558" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/26030252/image-270-1024x558.png" alt="" class="wp-image-664883" style="width:571px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/26030252/image-270-1024x558.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/26030252/image-270-300x163.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/26030252/image-270-768x418.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/26030252/image-270.png 1157w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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<li><a href="https://www.benzinga.com/markets/24/11/42174548/jim-cramer-says-this-stock-is-a-bitcoin-play-and-he-prefers-to-own-bitcoin">Jim Cramer Says This Stock Is A Bitcoin Play And He Prefers To Own Bitcoin</a></li>
</ul>

Pre-Market Outlook

Trading Ideas

Kohl's Gears Up For Q3 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

ArcelorMittal is today providing an update on its decarbonization plans in Europe.
The Company has previously announced the intention to invest in lower carbon emissions "hydrogen ready" DRI-EAF facilities to replace several blast furnaces across our European business, as a key strategic first step towards reducing emissions. In all cases, the host countries offered funding support for these projects, with the approval of the European Commission.
These projects were premised on a favourable combination of policy, technology and market developments that would facilitate decarbonization investment by helping offset the significantly higher capital and operating costs that this transition strategy would involve. This included being able to use natural gas until green hydrogen became competitive.
However European policy, energy and market environments have not moved in a favourable direction. Green hydrogen is evolving very slowly towards being a viable fuel source and natural gas based DRI production in Europe is not yet competitive as an interim solution. Furthermore, there are significant weaknesses in the carbon border adjustment mechanism (CBAM), trade protection measures need strengthening in response to increasing imports due to overcapacity in China, and there is limited willingness among customers to pay premiums for low-carbon emissions steel.
Before taking final investment decisions it is necessary to have full visibility on the policy environment that will ensure higher cost steelmaking can be competitive in Europe without a global carbon price. &nbsp;&nbsp; We expect several important developments in 2025, including the scheduled review of the CBAM, an anticipated review of the steel safeguards, and the publication of the Steel and Metals Action Plan. When complete, these initiatives will provide the parameters needed to shape the business case for decarbonization investments in Europe.
In the meantime, we are continuing with engineering work, as well as analysing a phased approach that would first start with constructing electric arc furnaces, which can also be fed with scrap steel to significantly reduce emissions. &nbsp;&nbsp; ArcelorMittal remains committed to decarbonizing and achieving net-zero by 2050. Activity undertaken in Europe to date includes:
<ul>
<li>In May we commenced construction on a 1.1 million tonne capacity EAF at our long products plant in Gijón, Spain. This will ultimately lead to a reduction of 1 million tonnes of CO2e a year.</li>
<li>Good progress is being made with our efforts to increase production to 1.6 million tonnes a year by 2026 at our flat products plant in Sestao, Spain, where we have two EAFs. Once complete, much of this production will be our XCarb&#xAE; recycled and renewably produced low-carbon emissions steel.</li>
<li>We continue to lead the market with sales of our XCarb&#xAE; low-carbon emissions steel, which have a carbon footprint of as low as 300kg per tonne of steel produced, and are on track to double sales to c. 400,000 tonnes this year. &nbsp;</li>
</ul>
The longer timeline required for final investment decisions will not impact the Company's ability to meet customer demand for low-carbon emissions steel as the Sestao revamp project will materially increase the Company's ability to produce low-carbon emissions flat products.
Any revision to the current 2030 intensity targets will be set out in the forthcoming Climate Action Report 3. From an absolute emissions perspective, the absolute emissions of the Company's operations in Europe have reduced by 28.2% since 2018, largely due to lower production due to weak demand. &nbsp;&nbsp; Longer term, the Company remains committed to all technologies that offer the potential to take steelmaking to near-zero. This includes carbon capture utilisation and storage (CCUS), although like green hydrogen, this technology is likely to only make a meaningful difference after 2030. It already has one industrial scale CCU facility operational at its plant in Gent, Belgium, and a further two pilot projects underway in Gent.
Aditya Mittal, Chief Executive, ArcelorMittal, commented:
"ArcelorMittal remains absolutely committed to decarbonization. It is the right thing to do, both for the company and the planet. I remain confident that we can still achieve our net-zero by 2050 target, but the shape of how we will achieve this could differ from what was previously announced.
"We have been very grateful for the support offered to date by different governments to help accelerate this process. But the scale of the challenge requires further policy initiatives to unlock increased investment. We would have liked to move faster, but the reality is the regulatory environment required to support the business case for investments is not yet in place.
"I hope to see new policies coming into play that will support an accelerated transition. The Green Deal Industrial Plan and the Steel and Metals Action Plan, and the legislation flowing from them, will be important, as well as regulation to stimulate the demand signal. While we do have customers that want low-carbon steel, those that do and are willing to pay a premium are still very much in the minority. &nbsp;&nbsp; "I expect policy decisions taken in 2025 will help bring clarity on how we will move forward to decarbonize our assets, taking advantage of our unique global profile, superior technology and raw materials mix and industry leading innovation."
&nbsp;

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