Looking Glass Labs Ltd Stock (OTC: LGSLF)

Latest news for Looking Glass Labs Ltd (OTC:LGSLF) Stock

Looking Glass Labs Ltd

The portfolio comprises loans that finance assets located largely in Western Europe and the US across the digital infrastructure, utility scale renewable, energy efficiency and transportation sectors.

News

Funds Managed By Blackstone Credit & Insurance To Acquire Interests In $1B Portfolio Of Infrastructure Loans From Santander

Shares of Poseida Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSTX#NASDAQ">PSTX</a>) rose sharply in today's pre-market trading after the company <a href="https://www.benzinga.com/quote/PSTX/news">agreed to be acquired by Roche in a $1.5 billion deal.</a>
Poseida Therapeutics shares jumped 218.8% to $9.12 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>ZenaTech, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZENA#NASDAQ">ZENA</a>) gained 61.5% to $10.37 in pre-market trading after climbing around 259% on Monday.</li>
<li>T Stamp Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDAI#NASDAQ">IDAI</a>) rose 52.8% to $0.2750 in pre-market trading.</li>
<li>Spectral AI, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDAI#NASDAQ">MDAI</a>) gained 33.6% to $1.7500 in pre-market trading after gaining around 10% on Monday.</li>
<li>Channel Therapeutics Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRO#NASDAQ">CHRO</a>) gained 22.7% to $0.7400 in pre-market trading after declining around 9% on Monday.</li>
<li>Hesai Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSAI#NASDAQ">HSAI</a>) climbed 20% to $5.70 in pre-market trading after the company posted upbeat quarterly sales.</li>
<li>Semtech Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMTC#NASDAQ">SMTC</a>) gained 18% to $63.06 in pre-market trading after the company reported better-than-expected third-quarter financial results and issued fourth-quarter guidance with its midpoint above estimates.</li>
<li>SEALSQ Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAES#NASDAQ">LAES</a>) gained 16.9% to $0.5499 in pre-market trading after gaining 4% on Monday.</li>
<li>Onconetix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONCO#NASDAQ">ONCO</a>) gained 14.9% to $0.9179 in pre-market trading after dipping around 27% on Monday.  </li>
<li>Woodward, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>) gained 10.7% to $198.55 in pre-market trading after the company reported better-than-expected quarterly EPS and sales.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Alector, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALEC#NASDAQ">ALEC</a>) shares tumbled 31.3% to $2.72 in pre-market trading after the company announced that the INVOKE-2 Phase 2 clinical trial evaluating the safety and efficacy of AL002 in individuals with early Alzheimer&#8217;s disease failed to meet its primary endpoint.</li>
<li>Leslie&#8217;s, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LESL#NASDAQ">LESL</a>) shares fell 18.5% to $2.86 in pre-market trading after the company reported worse-than-expected fourth-quarter adjusted EPS and sales.</li>
<li>Quantum Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QMCO#NASDAQ">QMCO</a>) shares fell 16% to $18.29 in pre-market trading. Quantum shares jumped 138% on Monday after Amazon announced it has launched its Quantum Embark Program.</li>
<li>YXT.COM Group Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YXT#NASDAQ">YXT</a>) fell 14.6% to $2.52 in pre-market trading.</li>
<li>Procaps Group SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PROC#NASDAQ">PROC</a>) declined 12.6% to $1.11 in pre-market trading after surging 38% on Monday.</li>
<li>Kingsoft Cloud Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KC#NASDAQ">KC</a>) shares dipped 10.5% to $6.22 in pre-market trading.</li>
<li>Quantum Computing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QUBT#NASDAQ">QUBT</a>) fell 8.1% to $7.07 in pre-market trading. Quantum Computing shares jumped 26% on Monday after AWS announced Quantum Embark program.</li>
<li>Electrovaya Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ELVA#NASDAQ">ELVA</a>) fell 8.1% to $2.50 in pre-market trading after gaining 13% on Monday.</li>
<li>Zoom Video Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>) fell 7.8% to $82.02 in today's pre-market trading. Zoom Video posted better-than-expected results for its third quarter and raised its guidance for the full year.</li>
<li>Wearable Devices Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WLDS#NASDAQ">WLDS</a>) dipped 5.8% to $2.60 in pre-market trading after jumping over 46% on Monday.</li>
</ul>
Now Read This: 
<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>

Pre-Market Outlook

Markets

Movers

Trading Ideas

ALEC

CHRO

ELVA

HSAI

IDAI

LAES

LESL

MDAI

ONCO

PROC

PSTX

QMCO

QUBT

SMTC

WLDS

ZENA

Why Poseida Therapeutics Shares Are Trading Higher By 219%; Here Are 20 Stocks Moving Premarket

HC Wainwright &amp; Co. analyst Douglas Tsao reiterates Biohaven (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHVN#NYSE">BHVN</a>) with a Buy and maintains $59 price target.

Price Target

Reiteration

Analyst Ratings

BHVN

HC Wainwright & Co. Reiterates Buy on Biohaven, Maintains $59 Price Target

Intel Corporation and the Biden-Harris Administration announced today that the U.S. Department of Commerce and Intel have reached agreement on terms to award the company up to $7.86 billion in direct funding for its commercial semiconductor manufacturing projects under the U.S. CHIPS and Science Act. The award will support Intel's previously announced plans to advance critical semiconductor manufacturing and advanced packaging projects at its sites in Arizona, New Mexico, Ohio and Oregon. Intel also plans to claim the U.S. Treasury Department's Investment Tax Credit, which is expected to be up to 25% of qualified investments of more than $100 billion.

Government

Regulations

INTC

Intel Bags $7.86B Subsidy Under US CHIPS Act, Eyes US Treasury Department's Investment Tax Credit

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly changing its approach to software updates. The tech giant appears to be opting for staggered rollouts of new features instead of bundling everything into annual iOS releases.
What Happened: In his latest weekly "Power On" newsletter, Bloomberg columnist Mark Gurman said that Cupertino plans a significant update with iOS 18.4 this spring.
However, several features that were initially set for the latter half of 2025 are now delayed.
Previously, the analyst reported that the much-anticipated Siri overhaul, which aims to <a href="https://www.benzinga.com/media/24/11/42129847/apple-prepares-to-take-on-openais-chatgpt-google-gemini-live-with-llm-siri-in-2025-report">incorporate in-house</a> LLMs for a more conversational assistant, was also pushed back. 
Beyond LLMS, a larger-than-usual number of features for iOS 19 are also postponed till spring 2026. That's around when iOS 19.4 will be released, said Gurman in the newsletter.
See Also:&nbsp;<a href="https://www.benzinga.com/tech/24/11/42182829/apple-could-keep-airpods-max-headphones-around-without-meaningfully-updating-them-says-analyst-heres-why">Apple Could Keep AirPods Max Headphones Around Without &#8216;Meaningfully&#8217; Updating Them, Says Analyst: Here&#8217;s Why</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Apple is planning a big update for spring with iOS 18.4, but some capabilities planned for later in 2025 are already postponed. I'm told that a larger-than-usual number of features for iOS 19 (beyond LLM Siri) are already delayed till spring 2026 (19.4). <a href="https://t.co/j7au0Dp4MD">https://t.co/j7au0Dp4MD</a>
&mdash; Mark Gurman (@markgurman) <a href="https://twitter.com/markgurman/status/1860722835573879152?ref_src=twsrc%5Etfw">November 24, 2024</a></blockquote>
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Why It Matters: Earlier this month, Cupertino alerted investors about the potential uncertainty in the profitability of its future products, including AI and virtual reality.
In its updated annual report, Apple included a new &#8220;risk factors&#8221; section, highlighting that some of its upcoming products may <a href="https://www.benzinga.com/news/24/11/41773589/apple-signals-profit-risks-in-ai-and-vr-shift-what-it-means-for-investors">not achieve the same revenue</a> and profit margins as its flagship product, the iPhone.
Apple reported fiscal <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">fourth-quarter revenue</a> of $94.9 billion, surpassing analyst expectations of $94.56 billion. The company also posted adjusted earnings of $1.64 per share, beating the anticipated $1.60 per share.
This marked the seventh straight quarter that Apple has outperformed analyst forecasts for both revenue and earnings, <a href="http://pro.benzinga.com/">according to Benzinga Pro</a>.
During the earnings call at the time, Apple CEO Tim Cook shared that the adoption rate of iOS 18.1 is double that of iOS 17.1.
During the same call, Apple CFO Luca Maestri was asked about the company's capital expenditure outlook, particularly concerning investments in private cloud computing and AI.
What Analysts Are Saying: Goldman Sachs analyst Michael Ng inquired whether these investments could affect Apple&#8217;s typical annual capex range of around $10 billion.
In response, Maestri explained that Apple uses a hybrid model for its data centers, combining both proprietary and third-party resources. This makes its capex numbers distinct from other companies.
He confirmed that Apple is already investing in infrastructure to support its AI-related features, with additional spending planned for fiscal year 2025.
In its 10-K filing filed in November, Apple reported research and development expenses of $31.37 billion, rising 5% over 2023.
Price Action: Apple&#8217;s stock rose 1.31% on Monday, closing at $232.87, but dipped 0.18% in after-hours trading. Year-to-date, the company&#8217;s shares have increased by 25.44%, slightly trailing the Nasdaq 100 index, which has gained 25.8%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Check out more of Benzinga&#8217;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:
<ul>
<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" target="_blank" rel="noreferrer noopener">Apple Faces New Challenge As Huawei Advances Domestic Chip Tech In Mate 70 Series Amid US Sanctions: Report</a></li>
</ul>
Photo courtesy: Apple

Tech

Media

AAPL

Apple May Delay Key iOS 19 Features As It Reportedly Adopts Staggered Rollouts Amid AI Investment Push

Daiwa Capital analyst Kahori Tamada downgrades Target (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) from Outperform to Neutral and announces $130 price target.

Downgrades

Daiwa Capital Downgrades Target to Neutral, Announces $130 Price Target

RBC Capital analyst Luca Issi initiates coverage on Dyne Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DYN#NASDAQ">DYN</a>) with a Outperform rating and announces Price Target of $45.

Initiation

RBC Capital Initiates Coverage On Dyne Therapeutics with Outperform Rating, Announces Price Target of $45

Needham analyst Chris Pierce reiterates ACV Auctions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACVA#NASDAQ">ACVA</a>) with a Buy and maintains $26 price target.

ACVA

Needham Reiterates Buy on ACV Auctions, Maintains $26 Price Target

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.

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

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.

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.

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>
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Photos courtesy: Shutterstock

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>.
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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>

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