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Under normal market conditions, the fund invests at least 80% of the sum of its net assets and the amount of any borrowings for investment purposes in component securities of the index. The index selects from the securities included in the MSCI USA Index, which generally consists of large-and mid-capitalization U.S. equity securities that exhibit overall growth style characteristics.

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Congressman Kurt Schrader of Oregon was last covered by Benzinga for his trades on Ameren Corporation (NYSE: AEE) and SLB (NYSE: SLB), which were made on Oct. 13 and Oct. 26, respectively.

This US Rep Bought 3 Vanguard ETFs Paying Monthly Dividends, Saw Gains In Recent Trades

William Blair analyst Sarah Schram initiates coverage on Vigil Neuroscience (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIGL#NASDAQ">VIGL</a>) with a Outperform rating.

Initiation

Analyst Ratings

VIGL

William Blair Initiates Coverage On Vigil Neuroscience with Outperform Rating

The stock market&#8217;s remarkable performance in 2024, with the <a href="https://www.benzinga.com/news/earnings/24/12/42308304/sp-500-hits-another-high-as-apple-tops-242-for-the-first-time-fear-index-remains-in-greed-zone">S&amp;P 500 hitting 54 all-time highs</a>, may not be a positive indicator for the future, according to analysts.
What Happened: The S&amp;P 500&#8217;s record-breaking run in 2024, fueled by factors such as Fed rate cuts, enthusiasm for artificial intelligence, and Donald Trump&#8217;s pro-market policies, has been impressive. However, this trend could be a cause for concern, as historically, years with numerous record highs have been followed by poor stock performance, analysts at Ned Davis Research said in a Monday note.
Historical data since 1928 shows that in years when the S&amp;P 500&nbsp;hit more than 35 record&nbsp;highs, the median gain for&nbsp;the index the following year was a mere 5.8%, falling short of the long-term average of 8%. In years with&nbsp;at least 50 record highs,&nbsp;the median return&nbsp;was -6% the following year.
&#8220;The obvious challenge to momentum studies is that stocks do not go up forever,&#8221; strategists said. 
&#8220;Perhaps AI will drive another productivity and profit boom that will keep inflation and Fed policy benign. History suggests that is the exception rather than the rule.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42286866/shiba-inu-burn-rate-explodes-by-3450-is-shib-price-going-up-72-in-december-again?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Burn Rate Explodes By 3,450%: Is SHIB Price Going Up 72% In December Again?</a>
There have been exceptions to this trend, such as in 1996 when the S&amp;P 500 returned 20% despite 77 record highs the previous year. However, these gains were largely attributed to the dot-com productivity boom. &#8220;The&nbsp;obvious challenge to momentum studies&nbsp;is that stocks do not&nbsp;go up forever,&#8221; the strategists pointed out.
Other technical indicators also suggest a weaker 2025, with the majority of the stock market&#8217;s gains being concentrated among a handful of companies.
&#8220;Continued narrowing would set the stock market up for a tougher 2025,&#8221; the strategists warned.
Why It Matters: Despite this warning, some analysts remain optimistic about the stock market&#8217;s future.&nbsp;Bank of America analysts&nbsp;have predicted <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42276232/bank-of-america-eyes-sp-500-at-6666-in-2025-we-are-expecting-another-good-year-for-equities">a positive outlook for stocks in 2025</a>, with the S&amp;P 500 Index expected to reach 6,666 by the end of 2025, marking a 10% increase from current levels. This forecast is based on confidence in productivity gains, resilient corporate earnings, and strategic sector rotation.
Furthermore, Ark Invest&#8217;s Cathie Wood has expressed <a href="https://www.benzinga.com/markets/equities/24/12/42262916/ark-invests-cathie-wood-says-stock-market-will-broaden-out-under-trump-but-growth-wont-be-linear-nothing-goes-up-in-a-straight-line">her positive outlook</a> for the stock market under President-elect Donald Trump&#8217;s administration. She believes that the market is already starting to anticipate a shift, indicating potential future growth.
Despite a few dips, the equity markets have been trading higher than the pre-election levels after President-elect Trump&#8217;s victory.
The Dow Jones recorded a gain of 7.5% for November. The S&amp;P 500, reflected in the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) gained 5.6% last month. The Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which follows the tech-heavy Nasdaq, has posted returns close to 6%.
Meanwhile, the Dow and S&amp;P 500 <a href="https://www.benzinga.com/24/12/42260445/dow-sp-record-best-month-of-year-investor-sentiment-improves-fear-greed-index-remains-in-greed-zone" target="_blank" rel="noreferrer noopener">recorded their best months</a> of the year in November, according to data from <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42296482/xrp-price-explodes-415-in-30-days-experts-analyze-why-xrp-is-going-up?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">XRP Price Explodes 415% In 30 Days: Experts Analyze Why XRP Is Going Up</a></li>
</ul>
Image via Wikimedia Commons

S&P 500's Record-Breaking Streak In 2024 Could Signal Caution For Investors In 2025, Warn Analysts: 'Stocks Do Not Go Up Forever'

CNEY

Reported Earlier, CN Energy Receives Extension From Nasdaq To Meet Minimum Bid Price Requirement Until May 2025

Hyatt spotlights ambitious growth strategy in luxury and lifestyle segments, with more focused brand portfolios to unlock the full potential of each brand.

Hyatt Accelerates Expansion In Luxury And Lifestyle Segments With Over 50 New Hotels Set To Open By 2026

<figure class="table"> 
<table>
<tbody>
<tr>
<td>Note</td>
<td>Coupon</td>
<td>Principal</td>
<td>Maturity</td>
<td>Price per Note</td>
<td>Yield to Maturity</td>
</tr>
<tr>
<td>5 year USD notes</td>
<td>5.00%</td>
<td>US$750,000,000</td>
<td>December 15, 2029</td>
<td>US$99.968</td>
<td>5.007%</td>
</tr>
<tr>
<td>10 year USD notes</td>
<td>5.40%</td>
<td>US$750,000,000</td>
<td>December 15, 2034</td>
<td>US$99.837</td>
<td>5.421%</td>
</tr>
<tr>
<td>7 year CAD notes</td>
<td>4.15%</td>
<td>C$500,000,000</td>
<td>December 15, 2031</td>
<td>C$99.836</td>
<td>4.177%</td>
</tr>
</tbody>
</table>
</figure>
&nbsp;

Reported Earlier, Canadian Natural Resources Prices $1.5B In 5- And 10-Year USD Notes And C$500M In 7-Year CAD Notes

Macquarie analyst Paul Golding maintains Iris Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IREN#NASDAQ">IREN</a>) with a Outperform and raises the price target from $13.5 to $19.

Price Target

IREN

Macquarie Maintains Outperform on Iris Energy, Raises Price Target to $19

DA Davidson analyst Linda Bolton Weiser maintains Waldencast (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WALD#NASDAQ">WALD</a>) with a Buy and raises the price target from $7.25 to $7.5.

WALD

DA Davidson Maintains Buy on Waldencast, Raises Price Target to $7.5

UBS analyst Tasso Vasconcellos downgrades YPF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YPF#NYSE">YPF</a>) from Buy to Neutral and raises the price target from $30 to $38.

Downgrades

UBS Downgrades YPF to Neutral, Raises Price Target to $38

CTRA

Reported Earlier, Coterra Energy Prices $750M Senior Unsecured Notes Due 2035 At 5.40% And $750M Notes Due 2055 At 5.90%

Jefferies analyst Roger Song maintains Replimune Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REPL#NASDAQ">REPL</a>) with a Buy and raises the price target from $16 to $19.

REPL

Jefferies Maintains Buy on Replimune Group, Raises Price Target to $19

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly facing a delay in its ambitious smart home vision, with a key product now expected to launch in 2025.
What Happened: On Wednesday, analyst Ming-Chi Kuo shared insights indicating that Apple's display-equipped HomePod, a key component of Cupertino&#8217;s strategy, has faced multiple production delays.
According to Kuo, the HomePod&#8217;s mass production was initially set for 2024 but has been postponed to after WWDC 2025, primarily due to software development challenges.&nbsp;
The new HomePod is expected to feature an A18 processor, a 6–7 inch display, and support for Apple Intelligence.
See Also: <a href="https://www.benzinga.com/markets/24/12/42286671/apples-foldable-iphone-could-spark-smartphone-market-revival-in-2026-says-expert?itm_source=parsely-api">Apple&#8217;s Foldable iPhone Could Spark Smartphone Market Revival In 2026, Says Expert</a>
He suggested that this product will mark a strategic shift in Apple&#8217;s HomePod lineup, similar to how the Apple Watch evolved from an iPhone accessory to a health management device.
"The display-equipped HomePod is expected to ship around 500,000 units in 2H25. If the market response is positive, this product's annual shipments could reach the million-unit level," Kuo predicted.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Smart Home Market Becomes Apple's Next Strategic Target; New HomePod with Display Set to Be Key Product in Apple's Smart Home Strategy<a href="https://t.co/smpxEOLb9a">https://t.co/smpxEOLb9a</a>
&mdash; 郭明錤 (Ming-Chi Kuo) (@mingchikuo) <a href="https://twitter.com/mingchikuo/status/1864184005530448366?ref_src=twsrc%5Etfw">December 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Previously, it was reported that Apple is working on a new AI wall tablet, <a href="https://www.benzinga.com/media/24/11/41928049/apples-new-ai-wall-tablet-with-siri-and-video-calling-set-to-challenge-amazon-and-google-in-smart-home-race">codenamed J490</a>, which aims to challenge competitors like Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and 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>) in the smart home market.
This device, expected to be announced as early as March, will serve as a home command center, integrating AI for app navigation and video calls.
Apple is also reportedly planning to enter the smart home <a href="https://www.benzinga.com/tech/24/11/41891237/apples-smart-camera-coming-in-2026-cupertino-eyeing-tens-of-millions-in-annual-shipments-says-top-supply-chain-analyst">IP camera market in 2026</a>, to achieve tens of millions in annual shipments.
According to Kuo, Apple may integrate this smart camera and HomePod "with its existing ecosystem and HomeKit to deliver a seamless smart home experience."
In October, Apple reported <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 <a href="https://www.benzinga.com/calendars/earnings">analysts&#8217; projections</a> of $94.56 billion. The tech giant also reported adjusted earnings of $1.64 per share for the quarter, exceeding expectations of $1.60 per share.
Price Action: Apple&#8217;s stock rose 1.28% on Tuesday, closing at $242.65, with an additional 0.14% gain in after-hours trading, bringing the price to $243. So far this year, Apple shares have surged 30.71%, outperforming the Nasdaq 100 index, which has climbed 28.32% over the same period, according to <a href="http://pro.benzinga.com/">Benzinga Pro</a>.
Apple's consensus price target is $242.26 from 31 analysts, with the highest at $300 set by Wedbush on Nov. 29. Latest ratings from Wedbush, Morgan Stanley, and Maxim Group average $262.67, suggesting an 8.09% upside.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/AAPL/analyst-ratings"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/04022256/Screenshot-2024-12-04-at-12.52.51%E2%80%AFPM-1024x380.png" alt="" class="wp-image-675862" /></a></figure>
Check out more of Benzinga's Consumer Tech coverage by <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/24/12/42306998/zuckerberg-seeks-active-role-in-trumps-tech-policies-says-metas-president-of-global-affairs-while-admitting-they-overdid-it-a-bit-during-pandemic-content-crackdown?itm_source=parsely-api">Zuckerberg Seeks &#8216;Active Role&#8217; In Trump&#8217;s Tech Policies, Says Top Executive — Admits Meta &#8216;Overdid It&#8217; During Pandemic Content Crackdown</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Tech

AAPL

AMZN

GOOG

GOOGL

Apple HomePod Could Be Delayed Until 2025: Top Analyst Predicts The Device Will Play Key Part In iPhone Maker's 'Smart Home Strategy'

Reported Earlier, Brookdale Chooses Non-Renewal Of Ventas Lease, Aiming For Improved Cash Flow And Shareholder Gains By 2026

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) researcher Troy Teslike said on Tuesday that while the EV giant&#8217;s sales in China are slated to rise this year as compared to the last, sales in the U.S. and Europe will drop, weighing down on the company&#8217;s <a href="https://www.benzinga.com/markets/equities/24/11/42081589/tesla-electric-offers-unlimited-overnight-charging-for-just-5-a-month-as-ev-giant-races-toward-5">overall global deliveries</a>.
What Happened: &#8220;There is no need for celebrations over the China numbers when sales are down in the U.S. and Europe,&#8221; Teslike said. 
While Tesla&#8217;s sales in China are expected to increase by over 48,000 units, sales in the U.S. and Europe are expected to drop by over 30,000 units, Teslike said.
Cybertruck is unlikely to buoy overall sales in the U.S. given that the company is planning a <a href="https://www.benzinga.com/24/12/42283708/tesla-gives-cybertruck-production-line-workers-three-days-off-report">three-day halt in production</a> this month owing to too much inventory, he noted. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Based on the latest data, here's the situation for Tesla sales this year across all four quarters compared to last year: • U.S. sales are expected to drop by over 30,000 units. • European sales are also expected to decline by more than 30,000 units. • Meanwhile, China sales…
&mdash; Troy Teslike (@TroyTeslike) <a href="https://twitter.com/TroyTeslike/status/1863963910526661098?ref_src=twsrc%5Etfw">December 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: For the full year 2023, Tesla delivered 1,808,581 vehicles around the globe. To mark a growth over last year, the company <a href="https://www.benzinga.com/news/24/10/41443856/tesla-offers-discounts-of-up-to-4k-on-select-model-3-y-vehicles-as-it-looks-to-avert-1st-ever-declin">has to deliver at least 514,926 vehicles</a> in the three months through the end of December.
Tesla has never managed to deliver over 500,000 EVs in a quarter to date, making this an ambitious target.
In the third quarter, Tesla reported deliveries of 462,890 vehicles, up 6.4% year-over-year and up 4.3% quarter-over-quarter.
Deliveries fell 8.5% year-on-year in the first quarter and by 4.8% in the second quarter.
According to Teslike, the <a href="https://www.benzinga.com/tech/24/11/42106067/tesla-registrations-drop-by-over-20-in-october-in-eu-possibly-hindering-its-2024-global-ev-delivery-target" target="_blank" rel="noreferrer noopener">low sales in Europe</a> will likely pull down Tesla&#8217;s global delivery numbers despite a rise in China.
Price Action: Tesla stock closed at $351.42 on Tuesday, down 1.6% for the day. Year-to-date, Tesla&#8217;s shares have risen 41.5%, according to Benzinga Pro data.
Overall, analysts have a consensus rating of &#8220;Buy&#8221; on the Tesla stock, with the highest price target being $411. The most recent analyst ratings by Roth MKM, Stifel, and UBS have an average price target of $339, implying a 3.5% downside.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="471" height="357" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/04022334/Tesla-ratings-1.jpg" alt="" class="wp-image-675863" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/04022334/Tesla-ratings-1.jpg 471w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/04022334/Tesla-ratings-1-300x227.jpg 300w" sizes="(max-width: 471px) 100vw, 471px" /></figure>
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 Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42283241/gm-to-sell-its-stake-in-jvs-new-battery-cell-plant-in-lansing-to-lg-energy-solution" target="_blank" rel="noreferrer noopener">GM To Sell Stake In Michigan Battery Plant To JV Partner For Nearly $1B</a></li>
</ul>
Photo courtesy: Tesla

Equities

TSLA

Tesla's Global Sales Could Witness A Decline Due To Slowdown In Europe And US, Even As China Set To Rise This Year, Warns Expert

The Company intends to use the net proceeds it receives from the offering to fund a portion of the cash consideration for its recently announced acquisition of Ridgemar (Eagle Ford) LLC (the "Ridgemar Acquisition"), which is expected to close in the first quarter of 2025, subject to customary closing conditions and regulatory approvals

CRGY

Reported Earlier, Crescent Energy Company Prices Upsized Public Offering Of 21.5M Class A Common Shares At $14/Share

During the month of November, the Company mined 39 Bitcoin ("BTC"), or 1.3 BTC per day, a decrease from 46 mined in October 2024.
Mining revenue in November 2024 amounted to $3.4 million, an increase from $3.0 million in October 2024 due to the higher hashprice and BTC price realized in November as compared to October. As at 30 November 2024, the Company held three BTC equivalent.

ARBK

Argo Blockchain Reports Bitcoin Mining Revenue Of $3.4M For November 2024 Up From $3M In October 2024

<ul>
<li>AJOVY&#xAE; (fremanezumab) significantly reduced monthly migraine days (MMD) and monthly headache days (MHD) versus placebo over a 12-week period in pediatric patients aged 6-17 years1</li>
<li>Efficacy consistent with fremanezumab pivotal Phase 3 and Real-World Evidence studies in adults with no new emergent safety signals observed</li>
<li>Full data presented as a late breaker at European Headache Cosgress (EHC) 4-7 December in Rotterdam, Netherlands</li>
</ul>

TEVA

Teva Shares Phase 3 SPACE Trial Results Highlighting The Efficacy And Safety Of AJOVY (Fremanezumab) In Preventing Episodic Migraine In Children And Adolescents

<ul>
<li>Agreement provides significant, non-dilutive capital to&nbsp;Novavax, further enabling the Company to advance its corporate growth strategy of driving value from its pipeline assets and proven technology platform</li>
<li>Provides&nbsp;Novavax with $190 million cash payment in 2024 and additional $10 million in 2025, and annual operating cost reductions of approximately $80 million</li>
</ul>

NVAX

Novavax Sells Czech Republic Manufacturing Facility To Novo Nordisk For $200M, Cutting Annual Costs By $80M

TIPT

Tiptree's Fortegra Group Expands To UK With Regulatory Approval For New Insurance Subsidiary

The Convertible Notes will have an initial conversion rate of 5.2005 shares of the company's common stock per $1,000 principal amount of the Convertible Notes (equivalent to an initial conversion price of approximately $192.29 per share of the company's common stock). The initial conversion price represents a premium of approximately 40% to the $137.35 per share closing price of the company's common stock on The New York Stock Exchange on December 3, 2024.

Reported Earlier, Live Nation Entertainment Prices $1B Offering Of 2.875% Convertible Senior Notes Due 2030

Revolution Medicines, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RVMD#NASDAQ">RVMD</a>), a clinical-stage oncology company developing targeted therapies for patients with RAS-addicted cancers, today announced the pricing of 14,130,436 shares of its common stock at a public offering price of $46.00 per share, before underwriting discounts and commissions, and, in lieu of shares of common stock, to certain investors, pre-funded warrants to purchase 2,173,917 shares of common stock at a public offering price of $45.9999, which represents the per share public offering price for the common stock less the $0.0001 per share exercise price for each pre-funded warrant

RVMD

Reported Earlier, Revolution Medicines Prices Upsized $750M Public Offering Of 14,130,436 Common Stock At $46/Shares And Pre-Funded Warrants

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