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Retailers, Euro Snap Dow Streak; Techs Bump Nasdaq Higher

nyse:bac

Mixed Feelings on Wall Street

Dow Turns Red as Euro Dives

"We are pleased to announce an approximately 7.5% increase to FSCO's monthly distribution," said&nbsp;Andrew Beckman, Head of FS Investments' Global Credit business and Portfolio Manager for FSCO. "Our new monthly distribution rate of&nbsp;$0.0645&nbsp;per share represents an increase of approximately 51.8% over the Fund's distribution at the time of the listing in November of 2022, and the second increase over the last twelve months. The Fund's dynamic credit strategy investing across both public and private markets, coupled with our experienced investment team and attractive portfolio, position us well to provide an attractive yield for our shareholders and deliver strong total returns."
The current annualized distribution rate equates to an annualized distribution yield1&nbsp;of 10.1% and 10.6%, respectively, based on the Fund's net asset value (NAV) and market price as of December 31, 2024. The monthly distribution has been fully covered by the Fund's net investment income throughout 2024, and the Fund has generated an estimated total return on NAV of 14.24% and 34.7% on market price year-to-date through December 31, 2024.

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Dividends

FSCO

Reported Earlier, FSCO Declares Monthly Distribution Of $0.0645 For January 2025, Reflecting A 7.5% Increase

Starbucks Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) is once again embroiled in labor disputes as its union has filed 34 new complaints&nbsp;with the National Labor Relations&nbsp;Board, marking a resurgence in tensions.
What Happened: The complaints, lodged by Starbucks Workers United, accuse the company of breaching federal labor laws, Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-01-10/starbucks-union-files-34-federal-complaints-signaling-renewed-hostilities">reported</a> on Friday
Allegations include targeting and dismissing employees for their union activities across 16 states. These actions follow a previous complaint filed on Dec. 20, accusing Starbucks of unfair negotiation practices.
Starbucks has dismissed the allegations as unfounded. 
&#8220;Taking&nbsp;time to file such claims&nbsp;is a tactic that brings&nbsp;distraction from the progress we&nbsp;could be making,&#8221; said company spokesperson Phil Gee in an emailed statement to Bloomberg. The NLRB will investigate these cases, and if found credible, they could proceed to agency judges.
The recent filings and strikes reflect ongoing labor disputes reminiscent of those in 2022 and 2023. Despite earlier efforts to resolve differences, talks broke down over pay issues, with the union accusing Starbucks of inadequate economic proposals.
Why It Matters: The recent complaints come on the heels of a significant labor strike during the holiday season. Starbucks workers <a href="https://www.benzinga.com/markets/equities/24/12/42640897/starbucks-strike-expands-to-more-us-cities-as-wage-negotiations-stall-during-busy-holiday-season">expanded their strike </a>to more U.S. cities as wage negotiations stalled. The strike, which began in major cities like Los Angeles, Chicago, and Seattle, eventually spread to New Jersey, New York, Philadelphia, and St. Louis. Workers United demanded substantial wage increases, which Starbucks deemed &#8220;unsustainable.&#8221;
Further intensifying the situation, over <a href="https://www.benzinga.com/news/24/12/42666501/starbucks-faces-major-strike-on-christmas-eve-300-locations-affected-as-5000-workers-walk-out">300 Starbucks locations</a> were affected by a strike on Christmas Eve, involving more than 5,000 workers. Unresolved disputes over wages, staffing, and schedules were at the core of the strike. With over 60 stores in major cities shut, the ongoing labor unrest highlights the deepening rift between Starbucks and its employees.
Read Also: 
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<li><a href="https://www.benzinga.com/markets/equities/24/10/41478176/trump-media-mcdonalds-starbucks-philip-morris-and-tesla-why-these-5-stocks-are-on-investors-rada">Trump Media, Mcdonald&#8217;s, Starbucks, Philip Morris, And Tesla: Why These 5 Stocks Are On Investors&#8217; Radars Today</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 Shutterstock

Equities

Markets

General

SBUX

Starbucks Faces 34 New Union Complaints Amid Rising Tensions with Workers

Under the agreement, Storm will act as an ambassador for the Myriad Genetics Breast Cancer Risk Assessment Program featuring the <a href="https://www.globenewswire.com/Tracker?data=e3VsfxUbo-yZkKbrkPomsnLaoTxIULLUg8SGhzOUD3LZsVTnph0ap0ONCJT2yjG7Ru0ZDySSBGuiWyqIAOc679R1p4wjBMWp_qS-Qp2fX0WOqAyNh_GjNdsmfUCND9P7KafrTRXVKCgUhT3KL4uAZSO2gzMV4eblYoFnZYFyHHH79mO2VhGLi_cscUCakM-H">MyRisk&#xAE; with RiskScore&#xAE; Hereditary Cancer Test</a>, the first and industry-leading hereditary cancer test and polygenic risk prediction test for all ancestries. She will promote the importance of collecting a detailed family health history for cancer and understanding the associated cancer risks.
 &nbsp;

MYGN

Reported Earlier, Myriad Genetics Signs Agreement With Hannah Storm To Highlight Importance Of Knowing Family Cancer Risk

The new contract will incorporate catering and retail services; village, mine and port site cleaning services; facilities maintenance; and the provision of health and wellbeing solutions.
It is anticipated the six-year contract will generate approximately A$1.4B in revenues over the 2025-2030 contract period. Civeo has been operating the four additional villages under a Limited Notice To Proceed agreement since the second quarter of 2024.

CVEO

Reported Earlier, Civeo Renews A$1.4B Integrated Services Contract With Broader Scope In Australia

Reported Earlier, Wheaton Precious Metals Announces CFO Transition: Vincent Lau To Succeed Gary Brown In March 2025

<ul>
<li>Fourth quarter consolidated production was 80,438 ounces of gold and 14.5 million pounds of copper, representing the highest gold and copper production quarter of 2024, resulting in a 2% and 20% increase over the prior-year period, and 3% and 15% increase over the third quarter of 2024, respectively.</li>
<li>New Afton fourth quarter production was 19,652 ounces of gold and 14.5 million pounds of copper, an increase of 19% gold production and 15% copper production over the third quarter. The B3 cave performed as planned, and C-Zone ore production is ramping up as planned following commercial production and crusher commissioning early in the fourth quarter. Gold production beat the top end of the original 2024 guidance, with copper production achieving the midpoint.</li>
<li>Rainy River fourth quarter production was 60,786 ounces of gold. Fourth quarter operations were adversely impacted by unexpected mechanical down-time on the crushing and conveying system in December, leading to lower than expected throughput. As a result, fourth quarter production, specifically December production, was below plan, leading to gold production slightly below the updated 2024 guidance range.</li>
<li>2024 consolidated gold production of 298,303 ounces of gold was slightly below the updated consolidated guidance range of 300,000 to 310,000 ounces, while 54.0 million pounds of copper achieved the midpoint of initial copper production guidance range outlined at the start of 2024. Consolidated all-in sustaining costs3 are expected to be at the low end of the guidance range of $1,240 to $1,340 per gold ounce sold on a by-product basis.</li>
</ul>

Reported Earlier, New Gold Reported Q4 2024 Gold Production Of 80,438 Ounces (+2% YoY) And 14.5M Pounds (+20% YoY) Of Copper

Theratechnologies Inc. announced that a shortage of EGRIFTA SV&#xAE; (tesamorelin for injection) will occur at the patient level in mid-January 2025, following a voluntary shutdown of the contract manufacturing facility in 2024. While the Company is aware of remaining inventory of EGRIFTA SV&#xAE; in certain pharmacies throughout the United States, several pharmacies have reported stockouts.

THTX

Reported Earlier, Theratechnologies Alerts Patients to EGRIFTA SV Supply Shortage Amid Manufacturing Shutdown

Nuveen California Dividend Advantage Municipal Fund 2

Reported Earlier, NOVONIX And Harper Expand Collaboration With Licensing Agreement For Graphitization Furnace Technology

Through this collaboration, Zai Lab further expands its global oncology pipeline with another potential first-in-class ADC targeting multiple solid tumors and addressing significant unmet medical needs. ZL-6201 has demonstrated encouraging preclinical data with an IND expected to be filed in 2025.

ZLAB

Reported Earlier, Zai Lab Expands Oncology Pipeline With MediLink Collaboration For Novel LRRC15 ADC ZL-6201

Collaboration expected to provide technology and capabilities to deliver comprehensive AI data center solutions and services to expanded geographic regions

HXSCF

Penguin Solutions, Inc. - Ordinary Shares

PENG

Reported Earlier, Penguin Solutions Teams Up With SK Telecom And SK Hynix To Deliver Global AI Data Center Solutions

UK Biobank Pharma Proteomics Project aims to create a comprehensive map of disease-associated protein levels in the human body to advance biomarker discovery

Reported Earlier, Thermo Fisher's Olink Platform Chosen For UK Biobank Project Analyzing Protein Risk Factors For Disease

Prestigious Mayfair casino location expands Wynn's footprint in Europe and the Middle East ahead of Wynn Al Marjan Island opening in the UAE

WYNN

Reported Earlier, Wynn Resorts To Acquire Crown London Casino In Mayfair, Expanding Presence In Europe And The Middle East

Amylyx intends to use the net proceeds from this offering, together with existing cash, cash equivalents and marketable securities, to advance preparations for commercialization and pipeline programs, for working capital and for general corporate purposes

Amplify YieldShares Oil Hedged MLP Income ETF

AMLX

Reported Earlier, Amylyx Pharmaceuticals Launches Public Offering Of Common Stock, Aims To Advance Pipeline And Operations

Reported Earlier, GlocalMe Highlights Updated Brand Identity And New Connectivity Devices At CES 2025

Shoals Technologies Group, Inc. ("Shoals") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHLS#NASDAQ">SHLS</a>), a global leader in electrical balance of system ("EBOS") solutions for the energy transition market, announced today that it has filed a new patent infringement complaint with the U.S. International Trade Commission ("ITC") against Voltage, LLC and related foreign entity. This complaint cites two new patents (‘375 and ‘376 Patents) that cover Shoals' Big Lead Assembly ("BLA") solutions.

SHLS

Reported Earlier, Shoals Technologies Submits Another Patent Infringement Complaint Against Voltage, LLC To The ITC

Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) has expressed strong disapproval of the Biden administration&#8217;s anticipated chip export restrictions. The proposed regulations aim to limit the global sale of U.S. artificial intelligence chips.
What Happened: The new rules, expected to be announced as soon as Friday, are designed to curb chip exports to most nations, with a focus on preventing advanced technology from reaching China and Russia. Ned Finkle, Nvidia's vice president of government affairs, criticized the policy, arguing it would not bolster national security but instead push the world towards alternative technologies, Bloomberg<a href="https://www.bloomberg.com/news/articles/2025-01-10/nvidia-slams-biden-for-trying-to-preempt-trump-with-chip-rules"> reported</a> on Wednesday.
Finkle contended that the policy, which includes a &#8220;country cap,&#8221; would affect mainstream computers globally. He highlighted that the technology in question is already common in gaming PCs and everyday data-center computers, questioning the logic behind the restrictions.
The proposed regulations would create three tiers of chip curbs, allowing some U.S. allies full access to American chips. However, most countries would face new limitations, including caps on computing power. 
"This last-minute Biden administration policy would be a legacy that will be criticized by U.S. industry and the global community," Finkle said. 
Why It Matters: The Biden administration&#8217;s proposed export restrictions are part of a broader strategy to concentrate artificial intelligence technology development with allies and on Washington's terms. Nvidia and other semiconductor companies are <a href="https://www.benzinga.com/25/01/42897081/nvidia-and-ai-chip-stocks-brace-for-impact-as-biden-administration-considers-new-china-export-ban-report">preparing for potential impacts</a> from these restrictions.
The Biden government is considering a fresh sanction on the export of AI chips used in data centers, both on a country and company basis, before the transition to the Republican government led by Donald Trump on Jan. 20. The proposed rules could enact three tiers of chip curbs, affecting the global semiconductor market and potentially altering the competitive landscape.
Read Also: 
<ul>
<li><a href="https://www.benzinga.com/25/01/42901087/bidens-final-chip-curbs-set-to-shake-ai-markets-globally-10-etfs-to-watch-with-high-stakes-on-nvidia-amd">Biden&#8217;s Final Chip Curbs Set To Shake AI Markets: 10 ETFs With High Stakes In Nvidia, AMD</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Image via Shutterstock

NVDA

Nvidia Slams Biden's Country-Specific Chip Rules: 'Legacy That Will Be Criticized'

Elon Musk has requested the attorneys-general of California and Delaware to mandate an auction of a substantial portion of OpenAI&#8217;s stake.
What Happened: Musk&#8217;s legal representative, Marc Toberoff, reached out to the top legal officers of the states on behalf of major AI investors, advocating for an open bidding process, <a href="https://www.ft.com/content/596dddb3-0607-44b9-b565-9c0d62e49b9f">reported</a> Financial Times on Thursday.
However, OpenAI has no intention of conducting such an auction, the report noted, citing according to a source familiar with the company&#8217;s position.
See Also: <a href="https://www.benzinga.com/news/25/01/42904409/elon-musk-hosts-x-spaces-with-afds-alice-weidel-after-successfully-endorsing-trump-share-views-on-nuclear-power-and-future-of-europe-with-far-right-german-leader">Elon Musk Hosts X Spaces With Afd&#8217;s Alice Weidel After Successfully Endorsing Trump: Share Views On Nuclear Power And Future Of Europe With Far Right German Leader</a>
Musk&#8217;s legal team contends that an auction is essential to ensure the non-profit receives maximum value for its assets. Sources suggest that the non-profit&#8217;s stake in the proposed public benefit corporation could be worth billions.
The attorneys general have not yet responded to Musk&#8217;s request.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: The dispute originates from OpenAI&#8217;s shift from a non-profit to a <a href="https://www.benzinga.com/24/12/42712683/openai-lays-out-its-for-profit-transition-plans-says-it-must-evolve-to-advance-its-agi-mission">for-profit entity</a>, a transition Musk has opposed. The Sam Altman-led company plans to become a public benefit corporation, requiring the non-profit to relinquish control over its operations.
Earlier, the &#8220;Godfather of AI,&#8221; Geoffrey Hinton, expressed <a href="https://www.benzinga.com/general/education/25/01/42778778/elon-musk-gets-support-from-godfather-of-ai-geoffrey-hinton-in-battle-against-openai">support for Musk&#8217;s stance</a>. Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has also backed Musk, arguing that OpenAI should not convert assets developed under its <a href="https://www.benzinga.com/24/12/42495758/elon-musk-finds-an-unlikely-ally-in-mark-zuckerbergs-meta-in-his-fight-against-sam-altmans-openai">non-profit status for private gain</a>.
OpenAI&#8217;s valuation soared to $157 billion last year. The AI startup has received about $14 billion in investment from Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTF#NASDAQ">MSTF</a>).
Image via Wikimedia Commons
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/25/01/42900737/stephen-king-slams-elon-musks-h-1b-visa-stance-musk-thinks-smart-immigrants-can-stay-the-rest-of-you-washing-dishes-get-lost">Stephen King Slams Elon Musk's H-1B Visa Stance: ‘Musk Thinks Smart Immigrants Can Stay – The Rest of You Washing Dishes … Get Lost'</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Legal

Tech

Media

MSTF

Elon Musk Pushes California, Delaware Attorneys-General To Force OpenAI Stake Auction Amid Bitter Legal Battle With Sam Altman

Macro Economic Events

Econ #s

Economics

BBJP

WisdomTree Trust Japan Total Dividend Fund

Reported Earlier, Japan Household Spending (MoM) For November 0.4% Vs. -0.9% Est.; 2.9% Prior

Reported Earlier, Japan Household Spending (YoY) For November -0.4% Vs. -0.6% Est.; -1.3% Prior

Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) unveiled two new Mustang variants Thursday in Detroit, showcasing American performance innovation while the automaker&#8217;s stock trades near its 52-week low of $9.49.
What Happened: The Mustang GTD Spirit of America celebrates 60 years of Mustang achievements and becomes the most powerful street-legal Mustang ever, delivering 815 horsepower and 664 pound-feet of torque with a top speed of 202 mph. 
Ford hasn't disclosed prices for specific Mustang GTD editions, but the base model starts at around $325,000.
The special edition features distinctive red and blue racing stripes mimicking Mustang&#8217;s original 1964 Tribar logo, along with exposed carbon fiber aerodynamic elements and Performance White bodywork.
In a separate announcement, Ford partnered with RTR Vehicles to introduce the Mustang RTR, marking only the second time in Mustang history that Ford has co-developed a performance model with an external partner. 
The RTR variant, based on the EcoBoost platform, incorporates Mustang Dark Horse components and technology derived from Formula Drift championships.
&#8220;Mustang GTD is the pinnacle of Mustang performance,&#8221; said Mustang GTD Brand Manager Jim Owens. The model pays tribute to Craig Breedlove, who broke both 500- and 600-mile-per-hour land speed barriers in the 1960s.
See Also: <a href="https://www.benzinga.com/markets/equities/25/01/42890496/cybertruck-was-my-hero-today-says-ross-gerber-after-teslas-truck-allowed-him-to-navigate-california-wildfires-in-safety">&#8216;Cybertruck Was My Hero Today,&#8217; Says Ross Gerber After Tesla&#8217;s Truck Allowed Him To Navigate California Wildfires In Safety</a>
Why It Matters: These performance-focused launches come as Ford faces market challenges, with its stock down 17.74% over the past year. Recent analyst coverage reflects mixed sentiment, with Jefferies setting a $9 <a href="https://www.benzinga.com/quote/F/analyst-ratings">price target</a>, while the consensus among 27 analysts stands at $14.01. 
The company maintains a price-to-earnings ratio of 11.07 and offers a 6.16% dividend yield, with a market capitalization of $38.67 billion.
Jim Baumbick, Ford&#8217;s vice president of Product Development, emphasized the company&#8217;s commitment to performance diversity: &#8220;From Mustang GTD to Mustang Dark Horse to the new Mustang RTR, there&#8217;s a high-performance pony for every Mustang fan and customer.&#8221;
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/01/42904377/tesla-bull-gary-black-warns-against-inflated-optimus-robot-assumptions-get-pounded-each-time-i-try-to-right-size-expectations">Tesla Bull Gary Black Warns Against Inflated Optimus Robot Assumptions: Get Pounded Each Time &#8216;I Try To Right-Size Expectations&#8217;</a></li>
</ul>
Image Via Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Ford Debuts Limited-Edition Mustang GTD Spirit Of America, New RTR Performance Model Amid Stock Pressure

B. Riley Securities

Jefferies

The bulls on Wall Street took a quasi-breather on Thursday as the Dow's four-day win streak came to a halt amid subpar retail sales figures and the tumbling euro, but rallying tech stocks nudged the Nasdaq Composite slightly higher.

The Dow backed away from two-year highs Thursday afternoon as the euro plunged below $1.30 and retailers tumble, but tech stocks managed to keep the Nasdaq Composite afloat.

After flirting with mini gains, Wall Street turned mostly negative Thursday amid concern about a steep selloff in the euro and weaker-than-expected sales reports from Macy's and other retailers.

Attempting to shake off disappointing retail sales figures, Wall Street ticked tentatively higher Thursday morning, leaving the blue chips on pace to close at yet another two-year high.

Bulls Nudge Markets Slightly Higher

U.S. stocks opened flat to slightly higher Thursday morning as the bulls attempt to shrug off rising weekly jobless claims and a slew of disappointing December sales reports from retailers like Target.

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