Short interest for L3Harris Technologies gives investors a sense of the degree to which investors are betting on the decline of L3Harris Technologies's stock. Short interest data is updated every two weeks.

L3Harris Technologies Stock (NYSE:LHX), Short Interest Report

L3Harris Technologies

L3Harris Technologies provides products for the command, control, communications, computers, intelligence, surveillance, and reconnaissance, or C4ISR, market. The firm produces uncrewed aerial vehicles, sensors, and avionics, as well as provides military and commercial training services and maintains the us Federal Aviation Administration's communications infrastructure. In July 2023, the company acquired Aerojet Rocketdyne, a key supplier of rocket motors to the space and defense industry.

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LASE

Laser Photonics witnesses a surge in shares following an order from L3Harris Technologies for its LaserTower COMPACT marking system. L3Harris will deploy the system at its semiconductor division in Palm Bay, Florida.

Why Is Laser Photonics Stock Soaring Today?

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Asset Sales

L3Harris Technologies has signed a definitive agreement under which an affiliate of Kanders &amp; Company, Inc. will acquire its antenna and related businesses for $200 million.

L3Harris Sheds Antenna Business In Portfolio Refinement: Details

Management

3M shares surge as William &#34;Bill&#34; Brown is appointed CEO, effective May 1, 2024, succeeding Michael Roman, who becomes Executive Chairman. Brown&#39;s esteemed background, including leadership roles at L3Harris Technologies and Harris Corporation, adds weight to his appointment. 

Why 3M Shares Are Shooting Higher Today

L3Harris Technologies Inc

Outlook &amp; Guidance 2Q 2024 guidance &bull; Looking ahead, bp expects second quarter 2024 reported upstream&#x2A; production to be slightly lower compared with first-quarter 2024. &bull; In its customers business, bp expects seasonally higher volumes and fuels margin to remain sensitive to movements in the cost of supply. &bull; In products, bp expects realized margins to be impacted by narrower North American heavy crude oil differentials, and to remain sensitive to relative movements in product cracks. In addition, bp expects the absence of the first quarter plant-wide power outage at the Whiting refinery to be partly offset by a higher level of turnaround activity. &nbsp;2024 guidance In addition to the guidance on page 2: &bull; bp continues to expect both reported and underlying upstream production&#x2A; to be slightly higher compared with 2023. Within this, bp continues to expect underlying production from oil production &amp; operations to be higher and production from gas &amp; low carbon energy to be lower. &bull; In its customers business, bp continues to expect growth from convenience, including a full year contribution from TravelCenters of America; a stronger contribution from Castrol underpinned by volume growth in focus markets; and continued margin growth from bp pulse driven by higher energy sold. In addition, bp continues to expect fuels margin to remain sensitive to the cost of supply. &bull; In products, bp continues to expect a lower level of industry refining margins, with realized margins impacted by narrower North American heavy crude oil differentials. bp continues to expect refinery turnaround activity to have a similar impact on both throughput and financial performance compared to 2023, with phasing of activity in 2024 heavily weighted towards the second half. &bull; bp continues to expect the other businesses &amp; corporate underlying annual charge to be around $1.0 billion for 2024. The charge may vary from quarter to quarter. &bull; bp continues to expect the depreciation, depletion and amortization to be slightly higher than 2023. &bull; bp continues to expect the underlying ETR&#x2A; for 2024 to be around 40% but it is sensitive to the impact that volatility in the current price environment may have on the geographical mix of the group&rsquo;s profits and losses. &bull; bp continues to expect capital expenditure&#x2A; for 2024 to be around $16 billion, but now expects the phasing to be split broadly evenly between the first half and the second half. &bull; bp continues to expect divestment and other proceeds of $2-3 billion in 2024, weighted towards the second half. Having realized $18.2 billion of divestment and other proceeds since the second quarter of 2020, bp continues to expect to reach $25 billion of divestment and other proceeds between the second half of 2020 and 2025. &bull; bp continues to expect Gulf of Mexico oil spill payments for the year to be around $1.2 billion pre-tax including $1.1 billion pre-tax paid during the second quarter.

Earnings

Guidance

BP For 2Q Expects Reported Upstream Production To Be Slightly Lower Compared Q1; For Fiscal 2024 Continues To Expect Both Reported And Underlying Upstream Production To Be Slightly Higher Compared With 2023

BP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) reported quarterly earnings of $0.97 per share which missed the analyst consensus estimate of $0.98 by 1.02 percent. This is a 41.57 percent decrease over earnings of $1.66 per share from the same period last year. The company reported quarterly sales of $48.880 which missed the analyst consensus estimate of $55.076 billion by 100.00 percent. This is a 100.00 percent decrease over sales of $56.182 billion the same period last year.

Earnings Misses

BP Q1 2024 Adj EPS $0.97 Misses $0.98 Estimate, Sales $48.880 Miss $55.076B Estimate

EV maker Lucid Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) expects sales to fall in the upcoming two quarters after reporting a n<a href="https://www.benzinga.com/news/earnings/24/05/38653616/lucid-q1-earnings-highlights-revenue-beat-eps-miss-production-update-and-more">early 40% year-on-year uptick</a> in the first quarter.
What Happened: Lucid&#8217;s first-quarter deliveries jumped nearly 40% from a year earlier to 1,967 vehicles. However, for the second and third quarters, the company expects sales to dip, owing to particularly strange reasons.
&#8220;I always offer caveats. We expect typical seasonal slowing in Saudi Arabia in Q2, and we expect typical seasonal slowing globally in Q3 as consumers go on vacation,&#8221; CEO Peter Rawlinson said during the company&#8217;s first-quarter earnings call on Monday. 
While U.S. automakers generally experience dwindling demand over the winter months in the first quarter, falling demand owing to vacations is often unheard of.
Lucid&#8217;s Presence In Saudi Arabia: During the first quarter, Lucid sold over 500 vehicles in Saudi, the CEO said, implying that over 25% of Lucid sales are from the Middle Eastern country. 
Saudi Arabia&#8217;s Public Investment Fund (PIF) is a key investor in Lucid. &#8220;Now I believe there are two key factors that really set Lucid apart. Our superior in-house technology and our partnership with the PIF, who have been steadfast investors and partners,&#8221; Rawlinson said on Monday. 
Saudi&#8217;s PIF has invested about $6.4 billion into Lucid starting in 2018. The company also raised<a href="https://www.benzinga.com/markets/equities/24/03/37913817/why-is-ev-maker-lucid-stock-surging-today"> $1 billion in the first quarter </a>via a private placement to an affiliate of PIF, taking its overall liquidity as of the end of the quarter to $5.03 billion, despite reporting a loss of $680.9 million during the three months. 
The government of Saudi Arabia agreed to purchase up to 100,000 vehicles from the company over ten years starting in 2022. The company has two studios and service centers in the country and a car manufacturing factory.
Price Action: Lucid stock closed up 9.5% at $3.05 on Monday but dropped 7.9% after hours, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Stock is down 26.5% year-to-date. 
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More: <a href="https://www.benzinga.com/news/24/05/38628520/tesla-launches-model-y-rwd-variant-that-can-go-upto-320-miles-on-a-single-charge-elon-musk-promises">Tesla Launches Model Y RWD Variant That Can Go Upto 320 Miles On A Single Charge: Elon Musk Promises More Range On Discontinued Variant For Additional $1500 To $2000</a>
 Photo by Gage Skidmore on Flickr

Tech

LCID

Lucid CEO Peter Rawlinson Sees Sales Slowing Down Later This Year Because... Consumers Will Go On Vacation: 'I Always Offer Caveats'

After <a href="https://www.benzinga.com/markets/equities/24/02/37346162/apple-abandons-electric-car-project-to-focus-on-generative-ai">ditching its electric-vehicle plans, </a>Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) could be rekindling interest in the segment, if rumors are anything to go by. A report said late Monday that Cupertino was in talks to forge a partnership with Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>).
What Happened: Apple is &#8220;assessing the possibility of teaming up with a certain U.S. EV startup, and Rivian is a very likely candidate,&#8221; said Digitimes in a paywalled article, 9to5Mac <a href="https://9to5mac.com/2024/05/06/apple-rivian-partnership-report/">reported.</a>
The rumor&#8217;s originator, however, carried scant details and cited speculation among the supply chain.
Apple and Rivian did not immediately respond to Benzinga&#8217;s request for comment on the rumor.
Given the very preliminary nature of the speculation, the news could be subject to a lot of guesses and conjectures. The two relevant parties have key events coming up on Tuesday. Rivian is scheduled to report its first-quarter results after the market close, with analysts harboring subdued hopes amid the industry-wide downturn and the competition.
Apple, meanwhile, has scheduled the &#8220;Let Loose&#8221; hardware launch event, the first for the year, at 10 a.m. EDT on Tuesday. Rumors suggest the event presentation will be pre-recorded and the company will announce new OLED iPad Pro and iPad Airs. It may also announce a redesigned Magic Keyboard and the third-generation Apple Pencil.
See Also: <a href="https://www.benzinga.com/money/best-tech-stocks">Best Tech Stocks Right Now</a>
Why It&#8217;s Important: The rumor comes after Bloomberg reported in late February that Apple has decided to pull the plug on the self-driving car project, internally codenamed &#8220;Project Titan.&#8221; This meant that Apple&#8217;s decade-long time, efforts, and investment into the project would go down the drain. The rationale was to focus on the more lucrative generative AI opportunity.
Rivian, although a cut above the rest in the EV startup ecosystem, has had its fair share of woes. The company has been piling up losses for each of the EVs it manufactures, production ramp-up has been tough and cash resources have been dwindling.
Despite the fundamental challenges, Rivian has opted to embark on manufacturing its next-generation EVs using the R2 platform.
One wild guess could be a potential CarPlay subscription. Prominent Apple leaker and Bloomberg columnist Mark Gurman said in mid-March that <a href="https://www.benzinga.com/markets/equities/24/03/37769022/clock-is-ticking-for-apple-as-it-faces-obliteration-in-auto-market-says-gurman-heres-how-cuperti">Apple has doubled down on its efforts on&nbsp;CarPlay,&nbsp;</a>a technology system that connects an iPhone to a car's infotainment screen.
The concept for the new CarPlay, known as Project IronHeart within Apple, was meant to &#8220;take over more screens and a car&#8217;s instrument cluster, as well as features like the radio and air conditioning system,&#8221; he said. Currently, the interface is focused on allowing a user to operate Apple services and &#8220;doesn't handle most of a car's controls,&#8221; he added.
Apple ended Monday&#8217;s session down 0.91% to $181.71 and Rivian rallied 2.58% before closing at $10.33, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a>
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38656431/rivian-q1-earnings-preview-analyst-estimates-r2-update-key-production-focus-areas"> Rivian Q1 Earnings Preview: Analyst Estimates, R2 Update, Key Production Focus Areas</a>
Photo via Shutterstock

Rumors

Media

AAPL

RIVN

Is Apple Back In The EV Game? Tech Giant Reportedly Eyes Rivian Partnership

Hallador Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HNRG#NASDAQ">HNRG</a>) reported quarterly losses of $(0.05) per share which beat the analyst consensus estimate of $(0.18) by 72.22 percent. This is a 108.2 percent decrease over earnings of $0.61 per share from the same period last year. The company reported quarterly sales of $109.672 million which missed the analyst consensus estimate of $122.400 million by 10.40 percent. This is a 41.77 percent decrease over sales of $188.334 million the same period last year.

Earnings Beats

HNRG

Hallador Energy Q1 2024 GAAP EPS $(0.05) Beats $(0.18) Estimate, Sales $109.672M Miss $122.400M Estimate

Osisko Development (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ODV#NYSE">ODV</a>) reported $1.800 million in sales this quarter. This is a 43.75 percent decrease over sales of $3.200 million the same period last year.

Osisko Development Q1 Sales C$1.800M Down From C$3.200M YoY, Cash Position C$57.5M

Billionaire entrepreneur Mark Cuban has publicly supported the confession of Billy Markus, the co-founder of Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>).
What Happened: Markus, who created the meme cryptocurrency Dogecoin in 2013, recently confessed on the X social media platform. Cuban, a well-known Dogecoin enthusiast, has shown his support for Markus&#8217; actions.
Markus, in his confession, addressed his activity on social media, particularly his engagement in &#8220;s&#x2A;&#x2A;t posting&#8221; and complaining. 
Markus, also known by his pseudonym &#8220;Shibetoshi Nakamoto,&#8221;&nbsp;wrote, &#8220;i&#8217;m just s&#x2A;&#x2A;tposting but my actual positon here is: 1) complaining about people complaining on social media is pretty silly 2) it&#8217;s cool when people do things to try to help fix really difficult problems 3) it&#8217;s perfectly fine to complain, like you&#8217;re literally doing.&#8221; 
Cuban, in response, expressed his support for Markus, emphasizing that &#8220;Positive trolling towards s&#x2A;&#x2A;t posting trolls is never silly.&#8217;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Positive trolling towards shit posting trolls is never silly &#x1f60a; <a href="https://t.co/DISR3kcGkb">https://t.co/DISR3kcGkb</a>
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1787212907962409316?ref_src=twsrc%5Etfw">May 5, 2024</a></blockquote>
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Despite withdrawing from the Dogecoin project over a decade ago, Markus still holds a <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/37175267/dogecoin-co-creator-reveals-his-bitcoin-holdings-is-less-than-350">small amount of DOGE</a> and a minimal amount of Bitcoin.
Cuban, who was previously a <a href="https://www.benzinga.com/markets/cryptocurrency/21/09/22780044/mark-cuban-dont-think-of-crypto-as-currencies">vocal critic of cryptocurrencies</a>, has become a strong advocate for not only Dogecoin but also Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), and other leading cryptocurrencies.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38634101/despite-bitcoin-hitting-64k-analyst-says-king-crypto-remains-in-prime-buy-zone?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Despite Bitcoin Hitting $64K, Analyst Says King Crypto Remains In &#8216;Prime Buy Zone&#8217;</a>
Why It Matters: Cuban&#8217;s support for Dogecoin is not new. The billionaire has been a vocal advocate for the meme cryptocurrency and has even allowed the Dallas Mavericks to accept <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36835819/mark-cubans-crypto-ama-dallas-mavericks-say-yes-to-doge-printer-go-brrr-his-crypto-holding">DOGE as payment</a> for tickets and merchandise. 
Despite the recent <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/37205800/mark-cuban-benefits-from-surge-in-this-ethereum-based-ai-token-portfolio-climbs-180k-in-a-">surge in his crypto investments</a>, Cuban&#8217;s support for Dogecoin and its community remains unwavering. His backing of Markus&#8217; confession on X is likely to further bolster the confidence of Dogecoin investors and enthusiasts.
Markus&#8217; recent disclosure on X comes at a time when the social activity surrounding <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38659010/bitcoin-etfs-a-social-dud-for-lay-folks-analytics-platform-shares-data-that-shows-if-retai">Bitcoin ETFs is reportedly on the decline</a>, suggesting that retail investors may be losing interest in the cryptocurrency. 
Price Action: Dogecoin is currently trading at $0.16, marking a decrease of 0.45% in the last 24 hours, while showing a notable 68.86% increase year-to-date, according to the data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/partner/cryptocurrency/24/04/38488209/ecoai-coin-a-sustainable-digital-token-for-a-greener-planet?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">EcoAi Coin: A Sustainable Digital Token For A Greener Planet</a>
Image Via Flicker
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.

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

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DOGE

Mark Cuban Backs Dogecoin Co-Founder Billy Markus' 'S**t Posting' On X, Says 'Positive Trolling ... Is Never Silly'

Kosmos Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KOS#NYSE">KOS</a>) reported quarterly earnings of $0.21 per share which beat the analyst consensus estimate of $0.15 by 40 percent. This is a 31.25 percent increase over earnings of $0.16 per share from the same period last year. The company reported quarterly sales of $419.139 million which beat the analyst consensus estimate of $415.105 million by 0.97 percent. This is a 6.42 percent increase over sales of $393.867 million the same period last year.

Kosmos Energy Q1 2024 Adj EPS $0.21 Beats $0.15 Estimate, Sales $419.139M Beat $415.105M Estimate

AudioCodes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AUDC#NASDAQ">AUDC</a>) reported quarterly earnings of $0.17 per share which missed the analyst consensus estimate of $0.23 by 26.09 percent. This is a 112.5 percent increase over earnings of $0.08 per share from the same period last year. The company reported quarterly sales of $60.076 million which missed the analyst consensus estimate of $62.452 million by 3.80 percent. This is a 1.46 percent increase over sales of $59.213 million the same period last year.

AUDC

AudioCodes Q1 2024 Adj EPS $0.17 Misses $0.23 Estimate, Sales $60.076M Miss $62.452M Estimate

<ul>
<li>Strategic collaboration with GSK expanded to accelerate clinical development of alpibectir for the treatment of tuberculosis</li>
<li>GSK to participate in Series C Extension with equity investment</li>
<li>Series C financing round extended overall by CHF 12.3 million to CHF 44.9 million</li>
</ul>

BioVersys And GSK Boost Fight Against Tuberculosis With Expanded Partnership And Series C Funding Increase By CHF 12.3M

Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly working on its own artificial intelligence chips for data centers, a move that could potentially disrupt the market. However, the project&#8217;s future is still uncertain.
What Happened: The project, codenamed ACDC, is an extension of Apple&#8217;s existing in-house chip efforts for its devices, <a href="https://www.wsj.com/tech/ai/apple-is-developing-ai-chips-for-data-centers-seeking-edge-in-arms-race-0bedd2b2?mod=tech_lead_pos1">reported</a> The Wall Street Journal, citing people familiar with the matter. 
The tech giant has been working with <a href="https://www.benzinga.com/news/earnings/24/04/38320056/whats-going-on-with-apple-supplier-taiwan-semi-stock-on-thursday">its chip-making partner</a>&nbsp;Taiwan Semiconductor Manufacturing (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) to design and commence the production of these chips. However, there&#8217;s uncertainty surrounding whether this collaboration has produced a concrete outcome
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.
If the project comes to fruition, <a href="https://www.benzinga.com/news/23/05/32645037/nvidia-vulnerable-to-in-house-ai-chip-production-by-google-meta-microsoft-amazon">Apple would join the ranks</a> of other tech giants like&nbsp;Amazon.com Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>),&nbsp;Microsoft Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and&nbsp;Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), who already use their own <a href="https://www.benzinga.com/news/24/04/38498886/microsoft-meta-and-alphabet-ramp-up-ai-investments-spend-over-32b-in-q1">designed semiconductors in their data centers</a>. 
However, Bloomberg columnist&nbsp;Mark Gurman&nbsp;cast doubt on the report, stating that a project initiated by Apple in 2018 was canceled. Gurman also cited cost, lack of differentiation, and the on-device nature of Apple&#8217;s LLM as reasons why he doesn&#8217;t believe Cupertino would pursue&nbsp;its own AI server chips.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">On Apple and AI servers: Apple started a project ~'18 to develop server chips to offload from those used by Google etc. That project was canceled. I don't believe Apple would make its own AI server chips because of cost, lack of a differentiator and on-device nature of its LLM.
&mdash; Mark Gurman (@markgurman) <a href="https://twitter.com/markgurman/status/1787678052744647100?ref_src=twsrc%5Etfw">May 7, 2024</a></blockquote>
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Benzinga has reached out to Apple and this article will be revised upon receipt of a comment.
See Also: <a href="https://www.benzinga.com/news/24/05/38638286/tesla-investor-ross-gerber-calls-warren-buffett-tough-as-nails-businessman-after-berkshire-hathaway?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Investor Ross Gerber Calls Warren Buffett &#8216;Tough As Nails Businessman&#8217; After Berkshire Hathaway Dumps Apple: &#8216;Don&#8217;t Let That Soft Mid Western Demeanor Fool You&#8217;</a>
Why It Matters: Apple has been striving to keep pace with its <a href="https://www.benzinga.com/markets/equities/24/05/38610325/tim-cook-very-bullish-on-apples-generative-ai-efforts-despite-lower-capital-expenditure-than-riv">technology counterparts in generative AI</a>. The company is now gearing up to introduce a fresh approach to artificial intelligence at its upcoming Worldwide Developers Conference next month.
Earlier this year, Apple&nbsp;acquired Canadian AI startup DarwinAI&nbsp;as part of its <a href="https://www.benzinga.com/news/24/03/37737453/apple-slow-on-ai-iphone-maker-has-been-quietly-buying-more-startups-in-hot-space-than-most-rivals-fo">push into generative AI</a>. Apple CEO&nbsp;Tim Cook&nbsp;also expressed confidence in Apple&#8217;s AI prospects, despite concerns from investors about the tech giant&#8217;s position in the AI race.
Moreover, Apple has been exploring partnerships to enhance its AI capabilities. The company is reportedly in talks with ChatGPT-parent OpenAI to incorporate the startup&#8217;s AI technology into the <a href="https://www.benzinga.com/news/24/04/38474688/goodbye-google-gemini-apple-in-talks-with-microsoft-backed-openai-for-iphone-ai-features-report">upcoming iPhone features</a>.
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;<a href="https://www.benzinga.com/news/24/05/38631821/apples-q2-earnings-iphone-sales-slump-and-a-massive-110b-stock-buyback-this-week-in-appleverse?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple&#8217;s Q2 Earnings, iPhone Sales Slump, And A Massive $110B Stock Buyback: This Week In Appleverse</a>
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.

AMZN

GOOG

GOOGL

INTC

MSFT

Apple Reportedly Working To Join The Ranks Of Microsoft, Amazon, Meta By Developing Its Own AI Chips For Data Centers

Former TD Ameritrade CEO, Joe Moglia, has criticized Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) CEO, Laxman Narasimhan, for his handling of the company&#8217;s falling stock performance.
What Happened: On Monday, Moglia expressed his views during &#8220;Last Call&#8221; by CNBC. He highlighted a recent CNBC interview featuring Narasimhan and &#8220;Mad Money&#8221; host Jim Cramer where the latter grilled the Starbucks CEO over the company&#8217;s declining stock performance. Moglia supported Cramer&#8217;s line of questioning and criticized Narasimhan&#8217;s responses.
Moglia said, "I think what he said was &#8216;the plan we have in place is actually pretty good.&#8217; You got to be on drugs to say something like that on national television.&#8221;
"What you're doing is not working. You've got to acknowledge that."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"You got to be on drugs to say something like that on national television," says <a href="https://twitter.com/CoachJoeMoglia?ref_src=twsrc%5Etfw">@CoachJoeMoglia</a> on <a href="https://twitter.com/search?q=%24SBUX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SBUX</a> CEO Laxman Narasimhan&#39;s commitment to the company's current plan. "What you're doing is not working. It's not working. You've got to acknowledge that." <a href="https://t.co/Lcjkh21x4w">pic.twitter.com/Lcjkh21x4w</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1787634435178799389?ref_src=twsrc%5Etfw">May 7, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38631462/dogecoin-killer-shiba-inu-burn-rate-spikes-800-crypto-market-rallies-as-sentiment-soars-an?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Dogecoin Killer&#8217; Shiba Inu Burn Rate Spikes 800%, Crypto Market Rallies As Sentiment Soars And More: This Week In Cryptocurrency</a>
Why It Matters: Narasimhan has been facing <a href="https://www.benzinga.com/news/24/05/38597557/starbucks-ceos-dilemma-unfolds-with-stock-performance-falling-sales">significant challenges since taking over </a>as CEO of Starbucks a year ago. The company&#8217;s shares have plummeted following a disappointing quarterly performance, with a global decline in comparable store sales of 4%. The company&#8217;s stock performance has been further impacted by factors such as weather conditions and global conflicts.
Former Starbucks CEO Howard Schultz also <a href="https://www.benzinga.com/markets/equities/24/05/38636831/former-ceo-schultz-urges-starbucks-overhaul-amid-sales-slump-report">urged the company to acknowledge</a> its faults and revamp its operations in light of the sales decline. Starbucks, grappling with inflation, faces challenges in attracting budget-conscious consumers.
Price Action: On Monday, Starbucks&#8217; stock closed at $72.90 and was trading at $72.94 in the after-hours, according to Benzinga Pro.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/05/38635874/elon-musk-is-astonished-by-warren-buffetts-berkshire-hathaway-amassing-as-much-cash-as-tesla-ceo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Is Astonished By Warren Buffett&#8217;s Berkshire Hathaway Amassing As Much Cash As Tesla CEO&#8217;s Wealth: &#8216;Wow&#8217;</a>
Image via Shutterstock
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 Engineered by Benzinga Neuro, Edited by 
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Analyst Color

SBUX

Expert Slams Starbucks CEO's Response To Falling Stock Performance: 'You Got To Be On Drugs To Say Something Like That On National Television'

Macro Economic Events

Econ #s

Economics

Germany Trade Balance For March 22.3B Vs. 22.4B Est.; 21.4B Prior

Germany Factory Orders (MoM) For May -0.4% Vs. 0.4% Est.; -0.8% (Revised) Prior

U.K. Halifax House Price Index (YoY) For April 1.1% Vs. 0.4% (Revised) Prior

U.K. Halifax House Price Index (MoM) For April 0.1% Vs. 0.2% Est.; -0.9% (Revised) Prior

2024 financial&nbsp;guidance&nbsp;confirmed
<ul>
<li>Expected total revenues between &euro;170 million and &euro;190 million, including:
<ul>
<li>&euro;160 million to &euro;180 million of sales driven by growth of Valneva&#39;s proprietary products</li>
</ul>
</li>
</ul>
<ul>
<li>Expected R&amp;D investments between &euro;60 million and &euro;75 million, mostly dedicated to ongoing chikungunya development activities, the Zika trial and advancement of pre-clinical programs</li>
<li>Expected Other income between &euro;100 million and &euro;110 million, reflecting &euro;95 million in proceeds from the PRV sale</li>
</ul>

VALN

Valneva For 2024 Expects Total Revenues Of €170M-€190M And R&D Investments Between €60M-€75M

Net Profit of &euro;58.9 million, reflecting PRV sale

Valneva Q1 Revenue €32.8M Down From €33.5M YoY, Net Profit €58.9M Up From Net Loss €18.1M YoY

Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) has announced a $9 billion investment in expanding its cloud computing infrastructure in Singapore. This decision comes as part of a broader trend of global tech companies increasing their presence in Southeast Asia.
What Happened: The $9 billion investment will be carried out over the next four years and will effectively double Amazon Web Services&#8217; current investment in Singapore. The expansion aims to meet the growing demand for cloud services and accelerate the adoption of artificial intelligence, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-05-07/amazon-to-invest-9-billion-in-singapore-to-expand-cloud-infrastructure-amzn">reported</a> on Tuesday.
With this move, AWS joins other tech giants such as Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) in expanding their presence in Southeast Asia. These companies are diversifying their investments away from China, amidst ongoing geopolitical tensions with the U.S.
Earlier this year, AWS announced plans to invest approximately $35 billion outside the U.S., including in Japan, Saudi Arabia, and Mexico. The company is also establishing clusters of data centers in Malaysia and Thailand.
See Also: <a href="https://www.benzinga.com/news/24/05/38635067/elon-musk-says-robert-de-niro-is-so-out-of-touch-its-insane-after-legendary-actor-compares-trump-to?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Robert De Niro Is &#8216;So Out Of Touch, It&#8217;s Insane&#8217; After Legendary Actor Compares Trump To Hitler, Calls Ex-President A &#8216;Monster&#8217;</a>
Why It Matters: This significant investment by Amazon in Singapore is part of a larger trend of tech companies expanding their presence in Southeast Asia. Just last week, Microsoft announced a <a href="https://www.benzinga.com/markets/asia/24/05/38573653/microsoft-commits-2-2b-investment-in-malaysias-cloud-and-ai-services-largest-in-32-years">$2.2 billion investment in Malaysia&#8217;s cloud and AI services</a>, its largest investment in the country in 32 years. This move by Amazon further underscores the region&#8217;s growing importance as a tech hub.
Meanwhile, Apple has been <a href="https://www.benzinga.com/government/24/04/38460042/apple-strengthens-supply-chain-in-china-while-growing-presence-in-southeast-asia-and-india">deepening its involvement with China</a> while expanding its production in Southeast Asia and India. Despite the challenges faced by Apple in China, the company continues to see the region as a crucial part of its global strategy.
Earlier this year, Google Cloud executives also recognized Singapore&#8217;s potential as a leading <a href="https://www.benzinga.com/government/24/02/36987795/google-clouds-singapore-alliance-a-beacon-for-ai-innovation-and-investor-opportunities">global AI hub</a>, attributing its success to a conducive environment for innovation and robust public-private partnerships.
Price Action: Amazon&#8217;s after-hours trading on Monday shows a slight decrease of 0.24 points, amounting to 0.13% at $188.46, according to the data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>. 
Read Next: <a href="https://www.benzinga.com/news/24/04/38539108/trump-says-if-supreme-court-decides-president-doesnt-get-immunity-then-biden-will-be-prosecuted-for?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Says If Supreme Court Decides President Doesn&#8217;t Get Immunity Then Biden &#8216;Will Be Prosecuted For All His Crimes&#8217;</a>
Image Via Shutterstock 
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
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The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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Amazon To Invest $9B In Singapore Cloud Infrastructure, Doubling Its Current Investment

A U.S. soldier has been detained in Russia on theft charges. The soldier, identified as Gordon Black, will remain in custody until Jul. 2.
What Happened: The Pervomaisky District Court in Vladivostok, Russia, has ordered the arrest of U.S. soldier Gordon Black on theft charges, Reuters reported on Tuesday citing RIA state news agency. 
&#8220;The Pervomaisky District Court in Vladivostok arrested the American soldier Gordon Black &#8230; under the &#8216;Theft&#8217; article (of Russia&#8217;s criminal code),&#8221; RIA cited the court&#8217;s spokeswoman as saying.
The U.S. Army, which was informed of the soldier&#8217;s detention on Monday, has not officially disclosed the soldier&#8217;s identity. However, an anonymous U.S. official revealed that the soldier was stationed in South Korea and is accused of stealing from a woman.
See Also: <a href="https://www.benzinga.com/news/24/05/38607615/russian-troops-enter-us-military-base-in-niger-amid-rising-tensions?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Russian Troops Enter US Military Base In Niger Amid Rising Tensions</a>
The soldier, reportedly a sergeant in the South Korea-based Army, allegedly met a woman from Vladivostok, Russia, on the internet. They lived together for a period, during which he allegedly stole 200,000 roubles ($2,196) from her, as per an unnamed source quoted by the Russian daily Izvestia.
Why It Matters: This incident comes at a time of heightened tensions between the U.S. and Russia. Just days before Black&#8217;s arrest, <a href="https://www.benzinga.com/news/24/05/38607615/russian-troops-enter-us-military-base-in-niger-amid-rising-tensions">Russian troops entered a U.S. military base in Niger</a>, following the junta&#8217;s order to expel U.S. forces. This move was described as &#8220;not great but in the short-term manageable&#8221; by a senior U.S. defense official.
Moreover, Russia recently announced plans for a <a href="https://www.benzinga.com/news/24/05/38639765/russia-plans-tactical-nuclear-weapons-exercise-as-response-to-western-provocative-statements-and-thr">tactical nuclear weapons exercise</a> in response to what it perceives as escalating threats from Western nations. This exercise, ordered by President Vladimir Putin, is intended to test the combat readiness of non-strategic nuclear forces.
Additionally, Russia has threatened to target <a href="https://www.benzinga.com/news/24/05/38658489/russia-lashes-out-after-david-cameron-says-ukraine-has-the-right-to-use-british-weapons-threatens-to">British military installations and equipment</a> in response to Ukraine&#8217;s use of British weapons against Russian territory. This warning came after UK Foreign Secretary David Cameron stated that Ukraine has the &#8220;right&#8221; to use British weapons.
Read Next: <a href="https://www.benzinga.com/news/24/05/38632362/russian-troops-enter-us-military-base-in-niger-trumps-views-on-presidential-immunity-and-more-top-po?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Russian Troops Enter US Military Base In Niger, Trump&#8217;s Views On Presidential Immunity And More: Top Political Updates</a>
Image Via Shutterstock 
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
<hr class="wp-block-separator has-alpha-channel-opacity" />
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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Politics

Russian Court Orders Arrest Of US Soldier On Theft Charges: Report

In a report released today, Noah Poponak from Goldman Sachs maintained a Sell rating on L3Harris Technologies (LHX – Research Report). The company'...

L3Harris Technologies (LHX) Gets a Sell from Goldman Sachs

There's a lot to be optimistic about in the Industrial Goods sector as 3 analysts just weighed in on L3Harris Technologies (LHX – Research Report),...

Analysts Offer Insights on Industrial Goods Companies: L3Harris Technologies (LHX), Saia (SAIA) and TFI International (TFII)

In a report released on April 26, Kenneth Herbert from RBC Capital maintained a Buy rating on L3Harris Technologies (LHX – Research Report), with a...

L3Harris Technologies (LHX) Receives a Rating Update from a Top Analyst

In a report released today, Sheila Kahyaoglu from Jefferies assigned a Buy rating to L3Harris Technologies (LHX – Research Report), with a price ta...

L3Harris Technologies (LHX) Gets a Buy from Jefferies

Analysts Offer Insights on Industrial Goods Companies: L3Harris Technologies (LHX), Weichai Power Co (OtherWEICF) and Honeywell International (HON)

Barclays analyst David E. Strauss maintained a Buy rating on L3Harris Technologies (LHX – Research Report) today and set a price target of $245.00....

Barclays Sticks to Its Buy Rating for L3Harris Technologies (LHX)

U.S., Saudi Arabia are said to be close to signing defense treaty

L3Harris: Q1 Beat And Raise Confirms Top Pick

Up, up and away: Space investment in focus as Boeing's Starliner gets ready for blastoff

Putin plans drills for tactical nuclear weapon to check West

ACHR

ARKX

ASTC

ASTR

ASTS

AVAV

BKSY

FOUR

GRMN

IRDM

KTOS

LLAP

LUNR

MNTS

RKLB

SAIA

SAIC

SATS

SPCE

SPIR

SPRX

TFII

TSAT

WEICF

Press Releases

L3Harris Announces Definitive Agreement to Sell Non-Core Assets to an Affiliate of Kanders & Company, Inc. for $200 Million

Kanders & Company Announces Definitive Agreement to Acquire Antenna and Test Equipment Businesses from L3Harris

Contracts

Iridium Signs Five-Year Contract with L3Harris to Protect FAA Critical Infrastructure

L3Harris Selects Mercury to Provide Solid-State Data Recorders for SDA's Tranche 2 Tracking Layer Satellites

Kratos Defense & Security Solutions, Inc. Completes Development of the Zeus Solid Rocket Motor (SRM) Family with the Successful Zeus 2 Static Test Fire

U.S. Army Awards L3Harris ENVG-B Production Order

L3Harris Announces Quarterly Dividend

L3Harris Technologies Reports Strong First Quarter 2024 Results, Increases 2024 Profitability Guidance

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L3Harris Technologies Stock (NYSE:LHX), Short Interest Report

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