Latest news for Joey New York (OTC:JOEY) Stock

Joey New York Inc through its wholly-owned subsidiary distributes natural skincare and beauty products on wholesale and retail levels. It offers skincare treatments and beauty enhancements that are health conscious, effective and affordable under the Joey New York brand name. Geographically, it operates through the United States and its business is amplifying internationally due to the Increasing demand for organic and natural cosmetic products.

Joey New York Inc

Financial Outlook
Our Q3&rsquo;24 outlook and updated full year 2024 guidance reflects the recent trends on our marketplace.
<table>
<tbody>
<tr>
<td>&nbsp;</td>
<td>Q3 2024</td>
<td>FY 2024</td>
</tr>
<tr>
<td>Revenue</td>
<td>$95.0 - $97.0 million</td>
<td>$383.0 - $387.0 million</td>
</tr>
<tr>
<td>y/y growth</td>
<td>3% - 5% y/y growth</td>
<td>6% - 7% y/y growth</td>
</tr>
<tr>
<td>Adjusted EBITDA(1)</td>
<td>$17.0 - $19.0 million</td>
<td>$69.0 - $73.0 million</td>
</tr>
</tbody>
</table>

Earnings

News

Guidance

FVRR

Fiverr Updates 2024 Outlook: Now Sees Revenue $383M-$387M (Prior $381M-$387M) Vs. $384.485M Consensus And Adjusted EBITDA Of $69M-$73M (Prior $67M-$73M)

Fiverr Expects Q3 Revenue Of $95M-$97M Vs. $97.726M Consensus And Adjusted EBITDA Of $17M-$19M

Fiverr International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FVRR#NYSE">FVRR</a>) reported quarterly earnings of $0.58 per share which beat the analyst consensus estimate of $0.55 by 5.45 percent. This is a 18.37 percent increase over earnings of $0.49 per share from the same period last year. The company reported quarterly sales of $94.663 million which beat the analyst consensus estimate of $94.621 million by 0.04 percent. This is a 5.90 percent increase over sales of $89.385 million the same period last year.

Earnings Beats

Fiverr International Q2 2024 Adj. EPS $0.58 Beats $0.55 Estimate, Sales $94.663M Beat $94.621M Estimate

The leader of the Palestinian militant group Hamas, Ismail Haniyeh, was assassinated in Tehran, Iran. The group has accused Israel of orchestrating the attack.
What Happened: The Hamas leader was killed in an airstrike in Tehran. The paramilitary Revolutionary Guard of Iran confirmed the news on Wednesday, <a href="https://apnews.com/article/iran-hamas-israel-30968a7acb31cd8b259de9650014b779">reported</a> Associated Press.
Israel has been vocal about its intentions to eliminate Haniyeh and other Hamas leaders following the group&#8217;s attack on Israel on Oct. 7, which resulted in the deaths of 1,200 people and the capture of 250 others.
Hamas declared Haniyeh a martyr, stating he was killed in a &#8220;Zionist airstrike.&#8221; The group also quoted him on the costs of the Palestinian cause.
Haniyeh was in Tehran to attend the inauguration of Iran&#8217;s new president, Masoud Pezeshkian, on Tuesday. Hamas has declared Haniyeh a martyr and stated that the Palestinian cause is worth the sacrifice.
Israeli military spokespersons have not yet commented on the incident. There has been no immediate reaction from the White House. The Biden administration has been <a href="https://www.benzinga.com/news/23/10/35136071/israel-under-siege-unprecedented-hamas-attack-sparks-intense-clashes-netanyahu-says-we-are-at-war">pushing for a cease-fire</a> and hostage-release deal between Hamas and Israel.
See Also: <a href="https://www.benzinga.com/news/24/07/40029450/lindsey-graham-reportedly-tried-to-persuade-trump-to-not-pick-jd-vance-as-his-running-mate-gop-senat?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Lindsey Graham Reportedly Tried To Persuade Trump To Not Pick JD Vance As His Running Mate: GOP Senator Wanted This Candidate As Ex-President&#8217;s VP Pick</a>
Why It Matters: Haniyeh&#8217;s assassination comes at a critical time. The Biden administration has been actively involved in efforts to broker a ceasefire and secure the release of hostages taken by Hamas during the Oct. 7 attack. President Joe Biden and Vice President Kamala Harris recently met with Israeli Prime Minister Benjamin Netanyahu in Washington to <a href="https://www.benzinga.com/general/politics/24/07/39971210/biden-harris-meet-netanyahu-to-discuss-ending-prolonged-israel-hamas-war-report">discuss these issues</a>.
Israel has been <a href="https://www.benzinga.com/markets/asia/24/07/39851210/israeli-forces-intensify-attacks-in-gaza-southern-lebanon-ahead-of-netanyahus-visit-to-us-congress">intensifying its attacks in Gaza</a> and southern Lebanon, leading up to Netanyahu&#8217;s visit to the U.S. Congress. 
Furthermore, ahead of U.S. Secretary of State Antony Blinken's visit to the Middle East, a senior Hamas official urged the U.S. to <a href="https://www.benzinga.com/news/24/06/39245947/hamas-urges-us-to-pressure-israel-to-end-war-in-gaza-ahead-of-antony-blinkens-middle-east-visit">pressure Israel to halt the ongoing conflict in Gaza</a>. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/40001605/anthony-scaramucci-says-donald-trumps-verbal-sparring-with-kamala-harris-a-mistake-adds-vice-preside?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Says Donald Trump&#8217;s Verbal Sparring With Kamala Harris A Mistake, Adds Vice President Can &#8216;Shock The World&#8217; In Terms Of Skillset And Capability</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>

Global

Hamas Leader Visiting For Inauguration Of New Iranian President Assassinated In Alleged Israeli Airstrike, Revolutionary Guard Confirms Strike

Medical marijuana company Bloomwell Group GmbH released a report Wednesday on Germany's private medical marijuana market. The Frankfurt-based company serves as the centralized digital infrastructure for medical cannabis distribution, consultations and treatment including via telemedicine and dispensing. The analysis comes after major cannabis reform in Germany with the implementation of the Cannabis Act (CanG). 
When partial cannabis legalization <a href="https://www.benzinga.com/markets/cannabis/24/04/38023610/heres-what-you-need-to-know-about-weed-legalization-in-germany-that-just-took-effect" target="_blank" rel="noreferrer noopener">took effect in Germany on April 1</a>, it allowed adults over 18 to legally possess up to 25 grams of dried cannabis and cultivate up to three plants at home. One of the biggest breakthroughs under the law is that medical cannabis is essentially <a href="https://www.benzinga.com/markets/cannabis/24/07/39830117/medical-marijuana-regulated-as-ibuprofen-is-one-of-the-biggest-breakthroughs-of-germanys-cannabi" target="_blank" rel="noreferrer noopener">regulated like ibuprofen</a>.
What else changed since then? Per the report, the price for medical marijuana flower initially rose slightly following its reclassification as a non-narcotic. However, costs quickly stabilized and then dropped in June. More importantly, patients are now paying an average of half the price for medical marijuana prescriptions, compared to what they paid at the beginning of 2023.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/40017479/medical-marijuana-to-be-more-widely-reimbursed-in-germany-hemp-bill-attracts-investors-and-more-" target="_blank" rel="noreferrer noopener">Medical Marijuana To Be More Widely Reimbursed In Germany, Hemp Bill Attracts Investors And More Cannabis News</a>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="970" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30163635/bloomwell_barometer_grafiken_6-e-1024x970.jpg" alt="" class="wp-image-465993" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30163635/bloomwell_barometer_grafiken_6-e-1024x970.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30163635/bloomwell_barometer_grafiken_6-e-300x284.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30163635/bloomwell_barometer_grafiken_6-e-768x728.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30163635/bloomwell_barometer_grafiken_6-e.jpg 1140w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
"Through the Bloomwell platform, which is by far the largest of its kind in Europe, we have been able to gather and analyze a significant amount of data on medical cannabis prescriptions, patient preferences and the market as a whole," stated Niklas Kouparanis, CEO and co-founder of the Bloomwell Group. "In addition to accommodating price-sensitive patients with lower and more affordable prescription costs, our findings show that due to imports from more than 20 countries – the majority being from Canada – we have a steady cannabis supply to meet increased demand, and an immense variety of flower strains to meet the preferences of patients and physicians. However, as our market continues to grow, we'll need to continue to ramp up the amount of cannabis we import, as we're projecting that Germany will be the number one medical cannabis market in the world."
<h2 class="wp-block-heading">Key Takeaways</h2>
The report's findings are based on the Bloomwell Group's internal data and analysis of the tens of thousands of prescriptions dispensed via its medical cannabis platform from January 2023 through June 2024. 
Highlights include:
<ul>
<li>Patients are being provided with a greater variety of cannabis flower strains than ever before. In June 2024 alone, pharmacies dispensed a total of 237 different varieties of medical cannabis flower strains via the Bloomwell digital platform.</li>
<li>Over 50% of the medical cannabis flower prescribed is classified as "inexpensive" or "very inexpensive." The average price per gram is less than 9 euros ($9.73). To put this in perspective, in the U.S. the average price per gram for medical marijuana flower is from $10 to $20, according to data from <a href="https://www.nuggmd.com/blog/medical-marijuana-cost-by-state" target="_blank" rel="noreferrer noopener">Nuggmd</a>.</li>
<li>Certain varieties of medical cannabis flowers, which previously cost €10 per gram at the beginning of 2023 are now priced at 5 euros per gram.</li>
<li>Prescribed medical cannabis flower averages a potency of just over 20% THC.</li>
<li>Patients and doctors have the option of choosing cannabis flowers that are either irradiated (treated to eliminate potential microbial contaminants) or non-irradiated flower; preferences indicate that a slight majority of patients prefer non-irradiated flower. Since the beginning of the year, the ratio of irradiated to non-irradiated flowers has been relatively equal.</li>
</ul>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="970" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30163455/bloomwell_barometer_grafiken_3-e-1024x970.jpg" alt="" class="wp-image-465990" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30163455/bloomwell_barometer_grafiken_3-e-1024x970.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30163455/bloomwell_barometer_grafiken_3-e-300x284.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30163455/bloomwell_barometer_grafiken_3-e-768x728.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30163455/bloomwell_barometer_grafiken_3-e.jpg 1140w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/03/37423458/huge-benefits-for-medical-marijuana-patients-opportunities-for-innovation-research-industry-vets" target="_blank" rel="noreferrer noopener">Huge Benefits For Medical Marijuana Patients, Opportunities For Innovation &amp; Research – Industry Vets Weigh In On Germany&#8217;s Cannabis Reform</a>
The report concludes that the industry has been well-prepared with a consistent marijuana supply to meet the substantial spike in new medical marijuana patients after April 1.
"It's extremely promising that medical cannabis is moving into the mainstream alongside other valued and reliable Rx prescriptions, and can now be prescribed more seamlessly for common issues such as sleep disorders and migraines,&#8221; said Bloomwell Group co-founder Dr. Julian Wichmann, MD. &#8220;Medical cannabis treatment for these ailments, which has been approved since 2017 and has shown to be helpful in relieving the symptoms stemming from these common conditions while often resulting in few or even zero side effects, should not be stigmatized. It's excellent news for patients and physicians alike that effective therapy with medical cannabis is now more widely available following reclassification to help people with various common conditions that affect millions."
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/23/12/36423626/this-european-country-is-expected-to-have-millions-of-medical-marijuana-patients-say-experts" target="_blank" rel="noreferrer noopener">Is Germany Poised To Become The Next Weed Epicenter In Europe?</a></li>
</ul>
Photo: Courtesy of Maxim Apryatin via Shutterstock

Cannabis

Eurozone

Medical Marijuana Patients In Germany Benefit from 50% Price Reduction Thanks To Legalization, New Report

Microsoft Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) CEO Satya Nadella on Tuesday said that the <a href="https://www.benzinga.com/markets/equities/24/05/38754837/microsoft-challenges-apple-and-google-with-web-based-gaming-store-report">company&#8217;s gaming platforms</a> have crossed the&nbsp;500 million monthly active users&nbsp;mark.
What Happened: During <a href="https://www.benzinga.com/news/earnings/24/07/40051051/microsoft-q4-earnings-highlights-revenue-beat-eps-beat-cloud-revenue-up-21-yoy-ensuring-we-lead-the">Microsoft&#8217;s fourth-quarter earnings</a> call, Nadella said, &#8220;We now have over 500&nbsp;million monthly active users across platforms and devices.&#8221; 
He further noted that the company&nbsp;previewed a record 30 new&nbsp;titles this quarter, including the highly awaited&nbsp;Call of Duty: Black Ops&nbsp;6 which will be available on Game Pass. &#8220;And our content pipeline has never been stronger.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/07/40003714/first-iphone-16-models-may-not-have-apple-intelligence-features-as-cupertino-delays-ai-integration-f?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">First iPhone 16 Models May Not Have Apple Intelligence Features As Cupertino Delays AI Integration For iOS 18 Overhaul: Report</a>
Microsoft CFO Amy Hood said that the gaming revenue of Microsoft witnessed a substantial rise of 44%, with a 48-point&nbsp;net impact from the Activision <a href="https://www.benzinga.com/government/24/05/38594937/microsofts-75b-acquisition-of-activision-cleared-of-insider-trading-concerns-by-sec">acquisition</a>.
&#8220;Xbox content and services revenue increased 61%, slightly ahead of expectations, with 58 points of net impact from the Activision acquisition,&#8221; she added.
Nadella also touched upon the successful launch of Fallout&nbsp;as a TV show on&nbsp;Amazon Prime, which became the second most-watched title on the platform. This resulted in a <a href="https://www.benzinga.com/general/entertainment/24/04/38260627/prime-videos-fallout-series-sparks-record-game-revival-fallout-76-hits-all-time-high">nearly fivefold increase in&nbsp;hours</a> played on Game Pass&nbsp;for the Fallout franchise quarter-over-quarter, he stated.
Microsoft anticipates gaming revenue growth in the mid-30s for the first quarter, propelled by the Activision acquisition. However, hardware revenue is projected to decline year-over-year, according to CFO Hood.
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: Microsoft reported fourth-quarter revenue of $64.7 billion, marking a 15% increase from the previous year. This figure exceeded the Street&#8217;s consensus estimate of $64.36 billion, according to data&nbsp;<a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent073024&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">from Benzinga Pro.</a>
During the call, Nadella was asked how investors should feel about the <a href="https://www.benzinga.com/general/gaming/24/07/39779849/gaming-industry-revenues-to-hit-307-billion-by-2027-analysis">growth potential of the investment</a> Microsoft is pouring into the gaming segment. In response, he said, their goal was to build a comprehensive portfolio that spans various gaming platforms, including Xbox, PC, and mobile.
He spoke about the <a href="https://www.benzinga.com/general/gaming/23/12/36339672/sony-estimates-1-5b-loss-due-to-microsofts-activision-blizzard-acquisition-our-pillars-are-already">significance of the Activision portfolio</a>, noting that it provides valuable assets for both PC and console gaming, as well as mobile platforms, which Microsoft had previously lacked.
Price Action: At the time of writing, Microsoft shares were down 2.72% to $411.40 in after-hours trading. The company ended the regular session on Tuesday at $422.92, down 0.89%.
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Image via Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/24/07/40000381/elon-musks-ai-ambitions-mark-zuckerbergs-apple-critique-and-taiwans-100b-economic-reform-this-week-i?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s AI Ambitions, Mark Zuckerberg&#8217;s Apple Critique, And Taiwan&#8217;s $100B Economic Reform: This Week In AI</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Gaming

Markets

Tech

MSFT

Microsoft CEO Satya Nadella Says Tech Giant Has 500M Monthly Users Across Gaming Platforms, Devices: 'Our Content Pipeline Has Never Been Stronger'

Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) has teamed up with Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) to develop a new <a href="https://www.benzinga.com/news/earnings/24/07/40051646/amd-shares-rebound-after-chipmaker-posts-q2-beat-guidance-tops-expectations-ceo-lisa-su-says-ai-bus">AI accelerator standard</a>, a move that could potentially disrupt the AI hardware market.
What Happened: The new standard, Ultra Accelerator Link, is designed to efficiently connect hundreds of AI accelerators, the chipmaker said in its <a href="https://www.benzinga.com/news/earnings/24/07/40051646/amd-shares-rebound-after-chipmaker-posts-q2-beat-guidance-tops-expectations-ceo-lisa-su-says-ai-bus">second-quarter earnings call</a>. 
The partnership also includes other major tech players like Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), Cisco Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>), and Hewlett Packard Enterprise Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>), indicating broad industry support for the initiative. 
During AMD&#8217;s second-quarter earnings call, CEO Lisa Su highlighted the importance of this industry-wide effort. The UAL technology is based on AMD&#8217;s proven Infinity Fabric, which has been a key component in the company&#8217;s data center products.
The partnership comes at a time when the demand for AI computing power is surging, driven by advancements in generative AI and the development of more sophisticated models. This standardization effort could potentially lower barriers to entry in the AI hardware market and accelerate the deployment of large-scale AI systems.
For Microsoft, Meta, and Google, aligning with AMD on this standard could provide more <a href="https://www.benzinga.com/markets/equities/24/07/39856365/openai-in-talks-with-broadcom-to-develop-new-ai-chip-aims-to-reduce-reliance-on-nvidia-report">options and flexibility</a> in their AI infrastructure. 
See Also: <a href="https://www.benzinga.com/news/earnings/24/07/40004774/dow-jumps-over-650-points-following-inflation-data-fear-greed-index-moves-to-neutral-zone?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dow Jumps Over 650 Points Following Inflation Data: Fear &amp; Greed Index Moves To &#8216;Neutral&#8217; Zone</a>
Why It Matters: AMD&#8217;s recent second-quarter earnings report showed a notable 9% increase in revenue to $5.84 billion, surpassing expectations. The company&#8217;s data center business, particularly its new AI chip, the MI300X, played <a href="https://www.benzinga.com/markets/equities/24/07/40057114/amds-results-proved-our-plan-to-reinvest-in-the-stock-was-right-says-jim-cramer-who-credits-lisa">a crucial role in this performance</a>. Jim Cramer praised CEO Su for AMD&#8217;s success, reinforcing investor confidence.
Moreover, AMD&#8217;s results also <a href="https://www.benzinga.com/news/earnings/24/07/40051646/amd-shares-rebound-after-chipmaker-posts-q2-beat-guidance-tops-expectations-ceo-lisa-su-says-ai-bus">highlighted strength in its data center revenue</a>, defying concerns about potential order cutbacks from Microsoft and competition from NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>). The semiconductor stock saw a nearly 8% rise in after-hours trading following the earnings announcement.
Microsoft has also been enhancing its AI capabilities, integrating advanced models from OpenAI and hardware accelerators from both Nvidia and AMD into its Azure cloud platform. CEO Satya Nadella emphasized the importance of these advancements in maintaining a <a href="https://www.benzinga.com/news/24/07/40056911/in-nvidia-and-amd-arm-pc-race-lisa-su-optimistic-about-product-positioning-despite-market-underrepre">competitive edge in the AI market</a>.
Additionally, AMD&#8217;s CEO, Su, expressed optimism about the <a href="https://www.benzinga.com/news/24/07/40056911/in-nvidia-and-amd-arm-pc-race-lisa-su-optimistic-about-product-positioning-despite-market-underrepre">company&#8217;s positioning in the AI PC market</a> despite its underrepresentation. She highlighted the upcoming launch of Zen 5-based products for both notebooks and desktops, reinforcing AMD&#8217;s commitment to innovation and competition.
Price Action:&nbsp;AMD shares surged 7.64% in after-hours trading, reaching $149.02, after closing Tuesday's regular session at $138.44, a decrease of 0.94%, according to&nbsp;<a href="https://benzinga.grsm.io/register174" target="_blank" rel="noreferrer noopener">Benzinga Pro data.</a>
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/07/40029681/trump-accuses-opec-of-manipulating-oil-prices-to-favor-kamala-harris-warns-she-will-be-a-disaste?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Accuses OPEC Of Manipulating Oil Prices To Favor Kamala Harris, Warns &#8216;She Will Be A Disaster For The USA!&#8217;</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

AVGO

CSCO

GOOG

GOOGL

NVDA

AMD Partners With Microsoft, Meta, And Google On New AI Accelerator Link Standard To Challenge Nvidia's Dominance

Macro Economic Events

Econ #s

Economics

Reported Earlier, China Non-Manufacturing Purchasing Managers Index For July 50.2 Vs. 50.3 Est.; 50.5 Prior

Reported Earlier, China Manufacturing Purchasing Managers Index For July 49.4 Vs. 49.4 Est.; 49.5 Prior

Reported Earlier, China Composite Purchasing Managers' Index For July 50.2 Vs. 50.5 Prior

Reported Earlier, Australia Trimmed Mean Consumer Price Index (QoQ) For Q2 0.8% Vs. 1.0% Est.; 1.0% Prior

Reported Earlier, Australia Retail Sales (MoM) Preliminary For June 0.5% Vs. 0.2% Est.; 0.6% Prior

Reported Earlier, Australia Consumer Price Index (YoY) For Q2 3.8% Vs. 3.8% Est.; 3.6% Prior

Reported Earlier, Australia Consumer Price Index (QoQ) For Q2 Unchanged At 1.0% Vs. 1.0% Est.

Payments-focused cryptocurrency XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) outshone heavyweights to become the market's best performer on Tuesday.&nbsp;
What Happened: The sixth-largest coin by market cap hit a 4-month high of $0.65, following a jump of more than 8% in the last 24 hours. With the latest surge, XRP is up 38% over the month.
The asset's trading volume more than doubled to $2.68 billion, making it the third-most traded speculative cryptocurrency in the 24-hour period.
The spike comes as blue-chip cryptocurrencies, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), stagnated. The global market cap also slipped by 0.43% in the last 24 hours
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40028787/crypto-focused-fairshake-becomes-biggest-super-pac-with-over-200m-in-donations-spends-90-o">Crypto-Focused Fairshake Becomes Biggest Super PAC With Over $200M In Donations, Spends 90% Of The Funds Against Democrats</a>
Why It Matters: XRP's rise comes amid expectations of a sustained rally.&nbsp;
Prominent cryptocurrency analyst Ali Martinez noted XRP's six-year-long consolidation in a symmetrical triangle, prompting him to issue a bullish prognosis.&nbsp;
"A bullish breakout could occur if XRP surpasses $0.90," Martinez forecasted.&nbsp;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$XRP</a> has been consolidating within a symmetrical triangle for 6 years! A bullish breakout could occur if <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> surpasses $0.90. <a href="https://t.co/YzW3jDuvF9">pic.twitter.com/YzW3jDuvF9</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1818339028808167777?ref_src=twsrc%5Etfw">July 30, 2024</a></blockquote>
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XRP is closely tied to the blockchain company Ripple Labs. The firm has been locked in a<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38381073/ripple-vs-sec-heats-up-company-refuses-2b-fine-proposes-10m"> tense legal battle with the SEC</a> over XRP&#8217;s status as a security
Though the company secured a major victory a year ago, the price of XRP has lagged behind the broader market,&nbsp;
XRP has grown only 3% year to date, compared to Bitcoin&#8217;s 56% gains and Ethereum&#8217;s 44% increases during the same period.
Price Action: At the time of writing, XRP is exchanging hands at $0.6496, up 8.3% 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.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Image via Shutterstock
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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XRP Outperforms Bitcoin, Ethereum To Rise As Top Gainer Today, Analyst Predicts 'Bullish Breakout' Even As The Coin Lags Broader Market In 2024

BBJP

WisdomTree Trust Japan Total Dividend Fund

Reported Earlier, Japan Industrial Production (MoM) Preliminary For June -3.6% Vs. -4.2% Est.; 3.6% Prior

Japan Interest Rate Decision 0.25% Vs. 0.10% Est.; 0.10% Prior

Senator Lindsey Graham (R-S.C.) voiced his support for the partnership between former President Donald Trump and his running mate Senator JD Vance (R-Ohio) to advance the America First agenda.
What Happened: On Tuesday, Graham took to X to express his endorsement of Trump and Vance&#8217;s partnership. He tweeted, &#8220;President @realDonaldTrump and @JDVance will work together to right the ship at home and abroad. The America First agenda worked pretty damn well the first time. Let's go back to those policies!&#8221;
Graham shared a video clip of his interview with CNN&#8217;s Pamela Brown and said that Vance would support Trump &#8220;unequivocally.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">President <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a> and <a href="https://twitter.com/JDVance?ref_src=twsrc%5Etfw">@JDVance</a> will work together to right the ship at home and abroad. The America First agenda worked pretty damn well the first time. Let's go back to those policies! &#x1f1fa;&#x1f1f8; <a href="https://t.co/2QMPfKRFJb">pic.twitter.com/2QMPfKRFJb</a>
&mdash; Lindsey Graham (@LindseyGrahamSC) <a href="https://twitter.com/LindseyGrahamSC/status/1818451511938367981?ref_src=twsrc%5Etfw">July 31, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/24/07/40002746/secret-texts-reveal-republican-vp-candidate-jd-vances-past-views-on-trump-police-and-gop-called-ex-p?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Secret Texts Reveal Republican VP Candidate JD Vance&#8217;s Past Views On Trump, Police, And GOP: Called Ex-Pr</a>
This endorsement comes despite Graham&#8217;s earlier attempts to <a href="https://www.benzinga.com/news/24/07/40029450/lindsey-graham-reportedly-tried-to-persuade-trump-to-not-pick-jd-vance-as-his-running-mate-gop-senat">persuade Trump</a> to choose Sen. Marco Rubio (R-Fla.) as his running mate over Vance. Graham believed Rubio would attract more votes in swing states.
Why It Matters: Graham&#8217;s support for Trump and Vance is significant given the ongoing speculation about Vance&#8217;s position as Trump&#8217;s running mate. Amid Vance&#8217;s <a href="https://www.benzinga.com/news/24/07/39979544/can-trump-replace-jd-vance-amid-kamala-harris-picking-pace-experts-warn-that-could-be-extraordinaril">underwhelming polling</a> and the growing momentum of Vice President Kamala Harris, questions have been raised about whether Trump might replace Vance.
This post by Graham comes at a crucial time as the 2024 presidential election heats up, with Harris leading by a <a href="https://www.benzinga.com/general/politics/24/07/40055183/trump-vs-harris-vice-president-leads-2024-election-by-1-point-hits-records-for-net-buzz-net-favo">narrow margin</a>, according to a recent Benzinga report.
Photo via Shutterstock
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/07/39999519/trump-vs-harris-latest-survey-indicates-positive-signs-for-this-candidate?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Harris: Latest Survey Indicates Positive Signs For This Candidate</a></li>
</ul>
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/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Politics

General

Lindsey Graham Says JD Vance Will Support Trump 'Unequivocally' — They Will 'Work Together To Right The Ship At Home And Abroad'

Tesla and SpaceX CEO Elon Musk <a href="https://www.benzinga.com/news/23/08/34061371/want-to-apply-for-jobs-at-tesla-spacex-elon-musk-finds-linkedin-links-cringe-instead-he-prefers-this">has previously called</a> LinkedIn &#8220;cringe,&#8221; but&nbsp;Microsoft Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has reported a significant increase in engagement and growth on the platform.
What Happened: On Tuesday, during the <a href="https://www.benzinga.com/news/earnings/24/07/40051051/microsoft-q4-earnings-highlights-revenue-beat-eps-beat-cloud-revenue-up-21-yoy-ensuring-we-lead-the">company&#8217;s four-quarter earnings</a> call, Microsoft CEO&nbsp;Satya Nadella&nbsp;said that LinkedIn continues to witness&nbsp;&#8220;accelerated member growth and record&nbsp;engagement.&#8221; 
He said that the platform sees&nbsp;1.5 million pieces of content&nbsp;shared every minute, with video being the fastest-growing format, showing a 34% increase year-over-year.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/07/40031960/microsofts-windows-reportedly-warns-users-to-backup-their-data-in-the-cloud-to-have-peace-of-mind-bu?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Microsoft&#8217;s Windows Reportedly Warns Users To Backup Their Data In The Cloud To Have &#8216;Peace Of Mind&#8217; — But At What Price?</a>
Nadella also highlighted the success of LinkedIn Marketing Solutions in B2B digital advertising and the increase in Premium sign-ups, which rose by 51% this fiscal year.
Microsoft&#8217;s CFO&nbsp;Amy Hood&nbsp;added that LinkedIn&#8217;s revenue increased by&nbsp;10% and 9% in constant&nbsp;currency,&nbsp;driven by better-than-expected performance across&nbsp;all businesses. The company expects high single-digit revenue growth for LinkedIn in the next quarter.
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: Musk has previously criticized LinkedIn and promoted his social media platform X, formerly Twitter, for posting job listings. In March 2024, the tech billionaire announced over <a href="https://www.benzinga.com/news/24/03/37529500/is-x-the-new-linkedin-elon-musks-everything-app-gets-a-boost-shows-off-over-1-million-job-listings">one million job listings from recruiters</a>, positioning X as a potential competitor to LinkedIn.
Meanwhile, on Tuesday, Microsoft reported fourth-quarter revenue of $64.7 billion, marking a 15% year-over-year increase. This figure surpassed the Street&#8217;s consensus estimate of $64.36 billion, according to data&nbsp;<a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent073024&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">from Benzinga Pro.</a>
Price Action: Microsoft shares fell 2.72% to $411.40 in after-hours trading. The tech giant closed Tuesday&#8217;s regular session 0.89% lower at $422.92.
Photo Courtesy: Shutterstock.com
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/news/24/07/40027527/mark-zuckerberg-gets-triggered-by-closed-ai-models-at-siggraph-2024-drops-f-bomb-while-talking-with?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Gets Triggered By Closed AI Models At SIGGRAPH 2024, Drops F-Bomb While Talking With Nvidia CEO Jensen Huang: ‘There Goes Our Broadcast Opportunity'</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Elon Musk Might Be Sidelining LinkedIn To Promote X, But Microsoft CEO Satya Nadella Says It Continues To See 'Record Engagement'

Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has made significant strides in enhancing the artificial intelligence capabilities of its Azure cloud platform. The company unveiled these advancements during its <a href="https://www.benzinga.com/news/earnings/24/07/40051051/microsoft-q4-earnings-highlights-revenue-beat-eps-beat-cloud-revenue-up-21-yoy-ensuring-we-lead-the">fourth-quarter earnings call</a>, showcasing its commitment to maintaining a competitive edge in the dynamic AI market.
What Happened: Microsoft has integrated cutting-edge models from OpenAI and advanced hardware accelerators from NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) into its Azure cloud platform. This move is aimed at fortifying Microsoft&#8217;s position in the rapidly evolving AI market.
CEO Satya Nadella announced that the Azure OpenAI Service now provides access to the most advanced frontier models, including GPT-4 and GPT-4 Turbo. This integration is expected to accelerate AI adoption across various industries.
&#8220;We added new AI accelerators from AMD and Nvidia, as well as our own first party silicon Azure Maia,&#8221; Nadella explained, highlighting Microsoft&#8217;s multi-pronged approach to AI acceleration.
Microsoft has also upgraded its hardware capabilities by adding new AI accelerators from NVIDIA to its Azure datacenters. This enhancement is crucial for supporting the increased demand for AI services, which contributed significantly to Azure&#8217;s 29% year-over-year revenue growth.
The integration of OpenAI&#8217;s latest models and Nvidia&#8217;s hardware accelerators into Azure is part of Microsoft&#8217;s broader strategy to dominate the AI cloud services market. With over 60,000 Azure AI customers and a 60% year-over-year increase in this customer base, Microsoft is positioning itself as a leading provider of enterprise AI solutions.
See Also: <a href="https://www.benzinga.com/news/24/07/40002632/kamala-harris-the-will-of-the-venezuelan-people-must-be-respected-as-socialist-nicol-s-maduro-faces?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kamala Harris: &#8216;The Will Of The Venezuelan People Must Be Respected&#8217; As Socialist Nicolás Maduro Faces Toughest Test At The Ballot In Decades</a>
Why It Matters: Despite the positive developments, <a href="https://www.benzinga.com/markets/equities/24/07/40056655/microsoft-azure-miss-to-lead-to-dip-in-ai-stocks-but-the-trade-remains-strong-predicts-gene-muns">Microsoft&#8217;s Azure underperformance</a> has been predicted to lead to a dip in the stock. However, the long-term prospects of the AI industry remain strong, according to Deepwater Asset Management‘s Managing Partner&nbsp;Gene Munster, with continued heavy investment in big tech infrastructure, particularly Microsoft&#8217;s Capex, which stood at $13.8 billion, a 55% YoY increase.
Microsoft&#8217;s fourth-quarter revenue of $64.7 billion, up 15% year-over-year, beat the <a href="https://www.benzinga.com/news/earnings/24/07/40051051/microsoft-q4-earnings-highlights-revenue-beat-eps-beat-cloud-revenue-up-21-yoy-ensuring-we-lead-the">Street consensus estimate of $64.36 billion</a>. The company&#8217;s AI initiatives are expected to play a central role in driving continued double-digit revenue and operating income growth in the coming fiscal year.
Despite these positive developments, Microsoft faced a setback with a <a href="https://www.benzinga.com/news/24/07/40042567/microsoft-365-outage-users-report-issues-with-outlook-website-and-app">Microsoft 365 outage</a>, which resulted in access issues and degraded performance with multiple Microsoft 365 services and features. 
Price Action: Microsoft Corp's stock closed at $422.92, down 0.89% on Tuesday. In after-hours trading, the stock fell further 2.72%. Despite this, the stock has risen 14.03% year to date, according to&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/earnings/24/07/40004774/dow-jumps-over-650-points-following-inflation-data-fear-greed-index-moves-to-neutral-zone?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dow Jumps Over 650 Points Following Inflation Data: Fear &amp; Greed Index Moves To &#8216;Neutral&#8217; Zone</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Microsoft Boosts Azure AI With OpenAI Models, Satya Nadella Says, 'We Added New AI Accelerators From AMD And Nvidia'

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