Latest news for Orex Minerals (OTC:ORMNF) Stock

Orex Minerals Inc is a Canadian-based mineral exploration company. It has a portfolio of gold, silver, and copper exploration projects on renowned mineral trends in Mexico and Canada. The company manages projects like Coneto, Sandra, and Jumping Josephine. It is in the process of exploring and evaluating its resource properties and has not yet determined whether any of its properties contain economically recoverable ore reserves.

OREX MINERALS INC NEW by Orex Minerals Inc

Orex Minerals Inc

ASML Holding NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>), the leading supplier of equipment to computer chip manufacturers, has <a href="https://www.benzinga.com/markets/equities/24/07/39786895/asml-expected-to-beat-estimates-with-over-5b-in-orders-during-q2-thanks-to-rising-ai-chip-demand">exceeded second-quarter earnings forecasts</a>, driven by robust sales in China and a surge in new bookings.
What Happened: The Dutch company <a href="https://www.asml.com/en/news/press-releases/2024/q2-2024-financial-results-80ef70c80ffb6d2a">reported</a> a second-quarter net income of 1.6 billion euros ($1.75 billion) on revenues of 6.2 billion euros ($6.77 billion), surpassing analysts&#8217; expectations of 1.41 billion euros on revenue of 6.04 billion euros, Reuters reported on Wednesday. 
The new bookings for the quarter stood at 5.6 billion euros ($6.11 billion), a significant increase from the 3.6 billion euros in the first quarter of 2024.
Christophe Fouquet, the new CEO, described 2024 as a &#8220;transition year,&#8221; with the company&#8217;s performance expected to remain flat as it gears up for a strong 2025. He attributed the industry&#8217;s recovery and growth to significant advancements in AI.
Despite the impressive figures, the second-quarter numbers were lower than the same period in the previous year, when net income was 1.94 billion euros and sales were 6.90 billion euros.
Analysts had <a href="https://www.benzinga.com/markets/equities/24/07/39786895/asml-expected-to-beat-estimates-with-over-5b-in-orders-during-q2-thanks-to-rising-ai-chip-demand">anticipated ASML to exceed estimates</a> with over 5 billion euros in orders during second quarter, thanks to the escalating demand for AI chips, as noted by Kevin Wang, an analyst at Mihuzo.
The surge in new orders is primarily fueled by strong demand from leading chip manufacturers, including Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), which produces chips for NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>).
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39764702/bitcoin-ethereum-dogecoin-recover-as-market-reacts-positively-to-trump-escaping-assassinat?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Recover As Market Reacts Positively To Trump Escaping Assassination Attempt: : Analyst Predicts King Crypto&#8217;s Pullback Before Rise To $63.8K</a>
Why It Matters: The strong performance comes amid escalating tensions in the U.S.-China chip war. The Eindhoven University of Technology, a <a href="https://www.benzinga.com/news/24/07/39793205/asml-backed-university-finds-itself-caught-in-the-middle-of-us-china-chips-war">significant talent source</a> for ASML, has come under increasing scrutiny from the U.S. due to its large number of Chinese students.
Earlier this year, under U.S. pressure, the Dutch government imposed restrictions on exports of ASML's immersion DUV lithography machines to China. Despite these restrictions, ASML has managed to secure substantial orders, driven by the rising demand for AI chips. 
Additionally, the U.S. has been pressuring its allies, including Japan and the Netherlands, to tighten export controls on chipmaking equipment to China. This move is part of a broader strategy to <a href="https://www.benzinga.com/markets/equities/24/06/39396293/us-pressures-japan-and-netherlands-to-tighten-chip-equipment-exports-to-china-report">prevent China from acquiring advanced semiconductor technology</a> that could enhance its military capabilities.
Price Action: ASML stock closed at $1,068.19, up 0.43% on Tuesday. In after-hours trading, the stock rose by an additional 0.27%. Year to date, ASML&#8217;s stock has increased by 49.00%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/39770159/why-tesla-shares-are-shooting-up-in-premarket?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Why Tesla Shares Are Shooting Up In Premarket</a></li>
</ul>
Image Via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Earnings

Earnings Beats

Equities

News

Markets

Tech

AAPL

ASML

NVDA

ASML Beats Q2 Earnings Expectations With Strong China Sales, AI Chip Demand

Macro Economic Events

Econ #s

Economics

U.K. Consumer Prices Index Including Owner Occupiers' Housing Costs (YoY) 2.8% Vs. 2.8% Prior

USI is delighted to announce the official opening of its new Tonala Site in a grand ceremony on&nbsp;July 16th. The ceremony was attended by prominent guests, including&nbsp;Roberto Arechederra&nbsp;as&nbsp;Jalisco&nbsp;Governor&#39;s Rep and Economic Minister of the state,&nbsp;Sergio Chavez Mayor&nbsp;of Tonala Municipality; Alfonso Olvera Economic minister of Tonal&aacute; and&nbsp;Guillermo del Rio, Index Chamber President

Reported Earlier, ASE Technology's USI Expands Global Footprint With Completion Of Tonala Site In Mexico

Expands the company&#39;s lineup of greenhouse gas-free products, helping to achieve carbon neutrality

MIELY

Reported Earlier, Mitsubishi Electric Secures Order For 84kv Dry Air Insulated Switchgear From Kansai Transmission, Advancing Carbon Neutrality

U.K. Producer Price Index (PPI) Input (MoM) For June -0.8% Vs. 0.1% Est.; -0.6% Prior

U.K. Consumer Price Index (YoY) For June 2.0% Vs. 1.9% Est.; 2.0% Prior

U.K. Consumer Price Index (MoM) For June 0.1% Vs. 0.1% Est.; 0.3% Prior

OSIS

Reported Earlier, OSI Systems Prices Upsized $300M 2.25% Convertible Senior Notes Due 2029, Increased from Initial $275M Offering

For the quarter ended 30 June 2024, BW Product Services reported an estimated gross profit of approximately USD 26 million. Gross profit represents the realised trading profit plus net derivative gains and losses from open cargo contracts and hedging transactions.

BWLP

BW LPG Reports $26M Gross Profit For Q2 2024 In Product Services Segment Performance Update

<ul>
<li>After four weeks of treatment, CT-996 demonstrated clinically meaningful weight loss of&nbsp;-7.3%&nbsp;(weight loss in placebo&nbsp;-1.2%; p &lt; 0.001)1&nbsp;&ndash;</li>
<li>Pharmacokinetic data supports a once-daily oral dosing regimen for CT-9961&nbsp;&ndash;</li>
<li>The safety and tolerability profile was consistent with other oral GLP-1 receptor agonists and no unexpected safety signals were observed1&nbsp;&ndash;</li>
</ul>

RHHBF

RHHBY

RHHVF

Roche's Genentech Reveals Phase I Results Of Its Oral GLP-1 Receptor Agonist CT-996 For The Treatment Of People With Obesity

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has started taking questions from shareholders to address during the company&#8217;s second-quarter earnings call.
What Happened: Tesla&#8217;s second-quarter earnings call is scheduled for July 23, 5:30 pm ET. Shareholders have already started pouring in questions, which may likely be answered by the company&#8217;s <a href="https://www.benzinga.com/news/24/06/39305704/tesla-investor-relations-chief-martin-viecha-to-depart-after-annual-shareholder-meeting-elon-musk-sa">new investor relations hea</a>d Travis Axelrod.
A whopping number of questions raised by shareholders are centered around the company&#8217;s stainless steel Cybertruck. The questions range from possible timelines for the release of the vehicle outside the U.S., a timeline for the availability of Tesla&#8217;s driver assistance technology called Full Self Driving or FSD on the vehicle, and even details on its production rate.
Other popular topics among shareholders as of now seem to be FSD and robotaxi. Shareholders raised queries on possible FSD transfer offers, price drops, and timelines for the technology&#8217;s availability in Europe and China, among others. 
As for the robotaxi, the key question is when the product will be unveiled. Though Tesla CEO Elon Musk initially pegged the robotaxi event for Aug. 8, he <a href="https://www.benzinga.com/news/24/07/39785823/elon-musk-confirms-delay-in-tesla-robotaxi-unveil-due-to-important-design-change-but-stays-mum-on-ne">recently confirmed media reports</a> and said on X that he has requested a few design changes to the vehicle, thereby delaying the event. 
Shareholders have until June 23, 4 pm ET to submit questions, meaning a lot more questions are potentially on the way.
Why It Matters: Tesla delivered 443,956 vehicles <a href="https://www.benzinga.com/markets/equities/24/07/39595720/tesla-deliveries-fall-for-second-straight-quarter-but-stock-takes-off-as-q2-numbers-exceed-expec">in the second quarter</a> globally, marking a 4.8% drop from last year but still beating the consensus estimate. The company also deployed 9.4 GWh of energy storage products in the quarter, marking the highest quarterly deployment to date. 
The financial results for the second quarter are now scheduled for after the market closes on July 23. 
In the second quarter of 2023, Tesla reported total revenue of $24.93 billion and adjusted EBITDA of $4.65 billion after delivering 466,140 vehicles.
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>.
Read More:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39789388/teamsters-union-considers-withholding-endorsement-for-both-trump-and-biden-after-supporting-democrat">Teamsters Union Considers Withholding Endorsement For Both Trump And Biden After Supporting Democrats For Decades: Report</a></li>
</ul>

TSLA

Cybertruck Curiosity Grips Tesla Shareholders As Elon Musk-Led EV Giant Starts Taking Questions For Upcoming Earnings Call

Birks Group (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BGI#AMEX">BGI</a>) reported quarterly losses of C$(0.24) per share. This is a 40 percent increase over losses of C$(0.40) per share from the same period last year. The company reported C$185.28 million in sales this quarter. This is a 13.70 percent increase over sales of C$162.95 million the same period last year.

Birks Group FY EPS C$(0.24) Up From C$(0.40) YoY, Sales C$185.28M Up From C$162.95M YoY

Australian computer scientist Craig Wright, who has consistently claimed to be the creator of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), has been ordered by a judge in the United Kingdom to publicly deny being Satoshi Nakamoto, the pseudonymous founder of the world&#8217;s largest cryptocurrency.
What Happened: In an order issued Tuesday, James Mellor directed Wright to announce on his website, Slack, and X that he is not the founder of Bitcoin, as per a <a href="https://www.theblock.co/post/305731/craig-wright-forced-to-post-that-he-is-not-actually-bitcoin-founder-satoshi-nakamoto-following-uk-ruling?utm_source=twitter&amp;utm_medium=social">report </a>by The Block.
Judge Mellor stated, &#8220;I do not consider a notice on his website on its own to be adequate.&#8221; He ordered the publication of an amended notice on Wright&#8217;s website homepage, X feed, and all Slack channels for a period of three to six months.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39807242/donald-trump-plans-launch-of-fourth-nft-collection-im-going-to-do-another-one-because-the-">Donald Trump Plans Launch Of Fourth NFT Collection: &#8216;I&#8217;m Going To Do Another One Because The People Want Me To Do Another One&#8217;</a>
Wright&#8217;s website now reflects these <a href="https://craigwright.net/">changes,</a> with a legal disclaimer denying his claims of being Nakamoto, and his copyright ownership of the Bitcoin whitepaper.
Why It Matters: This development follows a series of legal battles involving Wright&#8217;s claims to be the creator of Bitcoin. In February, <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/36949178/is-craig-wright-actually-satoshi-nakamoto-bitcoins-alleged-creators-assertion-deemed-a-bra">Wright&#8217;s assertion was deemed a &#8216;brazen lie&#8217;</a> in a U.K. High Court. The Crypto Open Patent Alliance, backed by Twitter founder Jack Dorsey, sought a &#8220;negative declaration&#8221; that Wright is not Nakamoto.
In March, Judge Mellor ruled that Wright is not Satoshi Nakamoto or the author of the Bitcoin whitepaper, concluding weeks of legal proceedings. Wright first claimed to be Satoshi in 2016.
<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">I think you should have a read of my whitepaper again. Nodes create blocks. Try understanding what that means. <a href="https://t.co/Olmcfv9Vhp">pic.twitter.com/Olmcfv9Vhp</a>
&mdash; Dr Craig S Wright (@Dr_CSWright) <a href="https://twitter.com/Dr_CSWright/status/1613866418218618880?ref_src=twsrc%5Etfw">January 13, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The real identity of Satoshi Nakamoto, who arguably enjoys a cult status in the cryptocurrency space, continues to be a mystery.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39807951/why-are-gamestop-and-kitty-themed-memecoins-trading-higher-today-read-on">Why Are GameStop And Kitty-Themed Memecoins Trading Higher Today? Read On</a></li>
</ul>
Disclaimer:&nbsp;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.<a href="https://benzinga.com/apis" rel="noreferrer noopener" target="_blank"></a>

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

Cryptocurrency

$BTC

Craig Wright Adds Disclaimer To Website Admitting He's Not Bitcoin-Founder Satoshi Nakamoto

&quot;We expect third-quarter total net sales between &euro;6.7 billion and &euro;7.3 billion with a gross margin between 50% and 51%. ASML expects R&amp;D costs of around &euro;1,100 million and SG&amp;A costs of around &euro;295 million. Our outlook for the full year 2024 remains unchanged. We see 2024 as a transition year with continued investments in both capacity ramp and technology. We currently see strong developments in AI, driving most of the industry recovery and growth, ahead of other market segments,&quot; said ASML President and Chief Executive Officer Christophe Fouquet. &nbsp;

Guidance

ASML Expects Q3 2024 Net Sales Of €6.7B-€7.3B Vs. €7.608B Consensus; Sees Gross Margin Between 50%-51%

ASML's Q2 Net Bookings Totaled €5.667B Of Which €2.5 Billion Is EUV

ASML Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) reported quarterly earnings of €4.01 per share which beat the analyst consensus estimate of €3.71 by 8.09 percent. This is a 18.66 percent decrease over earnings of €4.93 per share from the same period last year. The company reported quarterly sales of €6.242 billion which beat the analyst consensus estimate of €6.032 billion by 3.49 percent. This is a 9.56 percent decrease over sales of €6.902 billion the same period last year.

ASML Holding Q2 2024 GAAP EPS €4.01 Beats €3.71 Estimate, Sales €6.242B Beat €6.032B Estimate

Cryptocurrencies linked to legendary trader &#8220;Roaring Kitty" surged higher Tuesday on high short interest in meme stock, GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>).
What Happened: GameStop (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">GME</a>), the Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based meme coin that pays tribute to the historic 2021 short squeeze, jumped 10% in the last 24 hours.&nbsp;
Additionally, Kitty AI (CRYPTO: KITTY) shot up 25%, with a 10% jump in 24-hour trading volumes.&nbsp;
Both of these memecoins have no fundamental ties to GameStop or Roaring Kitty but are just playing on <a href="https://www.benzinga.com/news/24/07/39799183/whats-going-on-with-gamestop-stock">the speculations of a short squeeze of the meme stock </a>and a possible repetition of the 2021 event.
See Also:<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39359780/dogecoin-shiba-inu-floki-are-dino-coins-says-trader-he-likes-these-3-other-meme-coins-as-b?itm_source=parsely-api"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39785549/pepe-dogwifhat-floki-explode-amid-searing-memecoin-rally-dogecoin-shiba-inu-rise-as-well">Pepe, dogwifhat, Floki Explode Amid Searing Memecoin Rally — Dogecoin, Shiba Inu Rise As Well</a>
Why It Matters: Keith Gill, better known online as &#8220;Roaring Kitty,&#8221;<a href="https://www.benzinga.com/markets/equities/24/06/39128364/roaring-kitty-just-posted-a-reverse-uno-card-what-does-it-signal-for-gamestop-amc-shares"> </a>has <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39128955/roaring-kittys-new-social-post-pushes-gamestop-themed-crypto-by-200-kitty-themed-coins-sur">set the stock and cryptocurrency markets on fire with his social media comeback in May. </a>
The trader has posted position updates on Reddit and <a href="https://www.benzinga.com/markets/equities/24/06/39231962/roaring-kitty-draws-600k-live-viewers-in-youtube-return-im-alive">even held a livestream during market hours </a>on his YouTube channel.
His sporadic posts continue to inject volatility into GameStop and Kitty-themed memecoins.  
Price Action: At the time of writing, GME was exchanging hands at $0.00661, up 10.84% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. Shares of GameStop closed 5.85% higher at $28.58 during Tuesday's regular trading hours.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39801438/is-hester-peirce-the-next-sec-boss-potential-gensler-successor-urges-crypto-cooperation-wi">Is Hester Peirce The Next SEC Boss? Potential Gensler Successor Urges Crypto Cooperation With CFTC: &#8216;We Both Serve The American People</a>&#8216;</li>
</ul>

Movers

Trading Ideas

$GME

$SOL

Why Are GameStop And Kitty-Themed Memecoins Trading Higher Today? Read On

Renowned economist Peter Schiff compared the record high of gold with the contrasting decline of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), hinting at a bear market for the cryptocurrency.
What Happened: On Tuesday, Schiff wrote on X that gold had hit another record high, trading just below $2,450. He forecasted that it wouldn&#8217;t be long before the yellow metal breaks above $2,500. 
Schiff contrasted this with Bitcoin&#8217;s performance, stating that when priced in gold, Bitcoin is down 30% from its 2021 record high. &#8220;Wake up and smell the bear market HODLers,&#8221; the gold bug said, jeering at long-term investors of the world&#8217;s largest digital currency.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Gold?src=hash&amp;ref_src=twsrc%5Etfw">#Gold</a> just hit another record high. It&#39;s up over $25, trading just below $2,450. It won&#39;t be long before it breaks above $2,500. In contrast, priced in gold, <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is down 30% from its 2021 record high almost three years ago. Wake up and smell the bear market <a href="https://twitter.com/hashtag/HODLers?src=hash&amp;ref_src=twsrc%5Etfw">#HODLers</a>.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1813212549506011247?ref_src=twsrc%5Etfw">July 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39797805/dogecoin-could-reach-a-new-all-time-high-by-the-end-of-august-if-this-historical-pattern-h">Dogecoin Could Reach A New All-Time High &#8216;By The End Of August&#8217;&#8230;If This Historical Pattern Holds</a>
Why It Matters: Schiff has been criticized for coming up with small timeframe windows to highlight Bitcoin&#8217;s weaknesses and exaggerate the performance of assets he supports. 
However, even a cursory glance at the <a href="https://casebitcoin.com/charts">returns</a> offered by Bitcoin and inflation hedge assets shows that the &#8220;digital gold&#8221; has massively outperformed its real-world counterpart. Even over the last year, Bitcoin is up 120%, compared to gold&#8217;s 25% gains.
Earlier this month, he <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39639419/amid-bitcoin-crash-peter-schiff-forecasts-prolonged-bear-market-dont-say-i-didnt-warn-you-">warned that the cryptocurrency&#8217;s bear market was far from over and predicted further downsides</a> for Bitcoin. Since this prognosis, Bitcoin has jumped more than 20%.
Price Action: At the time of writing, Bitcoin is exchanging hands at $65,669.07, up 1.52% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. Spot gold is trading at $2,474.36, up 0.26%.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39807242/donald-trump-plans-launch-of-fourth-nft-collection-im-going-to-do-another-one-because-the-">Donald Trump Plans Launch Of Fourth NFT Collection: &#8216;I&#8217;m Going To Do Another One Because The People Want Me To Do Another One&#8217;</a></li>
</ul>
Disclaimer:&nbsp;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.

Peter Schiff Downplays Bitcoin, Hypes Gold's Rise: 'Wake Up And Smell The Bear Market'

Shares of Taiwan Semiconductor Manufacturing Co Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) took a hit, dropping over 2% following comments made by Presidential candidate Donald Trump. As per a Reuters report, Trump suggested that Taiwan should compensate the United States for its defense.
What Happened: Trump&#8217;s remarks, made during a Bloomberg Businessweek interview on June 25 and published on Tuesday, indicated that Taiwan should bear the cost of its defense. &#8220;I know the people very well, respect them greatly. They did take about 100% of our chip business. I think, Taiwan should pay us for defense,&#8221; he said.
TSMC, a key player in the advanced chip manufacturing industry, significantly influences the global economy. Any discord over Taiwan could potentially wreak havoc on the world economy.
While the U.S. is Taiwan&#8217;s main international supporter and arms provider, there is no formal defense agreement between the two nations. Nevertheless, the U.S. is legally bound to equip Taiwan with the means to defend itself.
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39690898/no-more-getting-high-on-hemp-in-america-multiple-states-begin-intoxicating-hemp-crackdown?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">No More Getting High On Hemp In America? Multiple States Begin Intoxicating Hemp Crackdown</a>
TSMC, currently in its quiet period before its second-quarter earnings report on Thursday, has yet to comment on Trump&#8217;s remarks. The Taiwanese government has also not issued any immediate response.
Why It Matters: Earlier this year, a <a href="https://www.benzinga.com/news/24/01/36818930/trumps-return-to-white-house-could-spell-disaster-for-taipei-warns-war-game-simulation-taiwan-was-to">war game simulation</a> warned of a grim outcome for Taiwan if tensions with China escalated during a hypothetical Trump return to the White House. The simulation ended with Taiwan unable to meet the demands of China and the U.S.
In March, Taiwan&#8217;s foreign ministry <a href="https://www.benzinga.com/news/24/03/37975815/taiwan-confident-in-us-support-regardless-of-trump-biden-election-dynamics-amid-china-tensions">expressed confidence</a> in the continuity of U.S. support, irrespective of the presidential election outcome.
Amid growing threats from China, Taiwan's new Minister of Science and Technology, Wu Cheng-wen, expressed confidence in TSMC's <a href="https://www.benzinga.com/news/24/05/38960732/amid-creeping-chinese-threat-taiwans-new-tech-minister-expresses-confidence-tsmc-can-guard-its-secre">ability to protect</a> its proprietary advanced technology as it expands overseas.
Despite the U.S. support, Taiwan&#8217;s Vice President-elect, Hsiao Bi-khim, emphasized the importance of Taiwan&#8217;s <a href="https://www.benzinga.com/news/24/05/38638573/taiwans-vice-president-elect-calls-for-building-our-own-strengths-first-despite-us-support-amid-cris">self-strengthening</a> and not solely depending on international support.
Price Action: TSMC traded 1.1% lower at $184 in the after-hours trading at the time of writing, the company&#8217;s shares closed 0.4% higher at $186.04 in the regular session, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro.</a>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Politics

Trump Says, 'Taiwan Should Pay Us For Defense' — Ex-President's Remark Triggers Fall In TSMC Shares

Wall Street experienced another notable day with the bulls driving the market upward, fueled by expectations of the Federal Reserve&#8217;s rate cuts in September. The Dow Jones Industrial Average had its best session since late May, soaring by 1.85% to close at 40,954.48. Meanwhile, the S&amp;P 500 saw a slight increase, ending the day up nearly 0.6% at 5,667.20. The Nasdaq also climbed, rising 0.2% to finish at 18,509.34.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
GameStop Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>)
GameStop shares closed the day with a 5.70% increase at $28.54, with an intraday high of $28.83 and a low of $27.37. The stock has been trending across various social sites as traders continue to discuss a <a href="https://www.benzinga.com/news/24/07/39799183/whats-going-on-with-gamestop-stock">potential repeat</a> of the historic meme stock short squeeze of 2021. 
Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)
Despite positive analyst coverage, Meta Platforms shares fell by 1.28% to close at $489.79. The stock hit a high of $503.95 and a low of $485.79 during the day. Wolfe Research <a href="https://www.benzinga.com/news/24/07/39803195/meta-platforms-stock-is-trading-lower-tuesday-whats-going-on">initiated coverage</a> on Meta Tuesday with an Outperform rating and a price target of $620. 
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39792248/jim-cramer-says-if-you-sell-this-chinese-ev-stock-now-some-clown-will-be-real-posit?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jim Cramer Says If You Sell This Chinese EV Stock Now, &#8216;Some Clown&#8217; Will Be &#8216;Real Positive About It,&#8217; Wait Until &#8216;All That Stuff Happens&#8217;</a>
Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>)
Taiwan Semiconductor stock closed the day up 0.44% at $186.04, with an intraday high of $189.59 and a low of $185.02. The company&#8217;s demand for AI chip production tools is driving ASML Holding&#8217;s <a href="https://www.benzinga.com/news/24/07/39793164/whats-going-on-with-taiwan-semiconductor-stock-tuesday">anticipated orders</a> for the second quarter. 
Bank Of America Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>)
Bank of America shares rose by 5.35% to close at $44.13, with an intraday high of $44.4 and a low of $42.22. The bank reported fiscal 2024 <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39799828/bank-of-americas-growth-boosted-by-strong-fees-and-operating-efficiency-goldman-sac">second-quarter net income</a> of $6.9 billion, beating estimates. 
Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla shares increased by 1.55% to close at $256.56, with an intraday high of $258.62 and a low of $245.8. CEO Elon Musk confirmed that the robotaxi unveiling event has been delayed to <a href="https://www.benzinga.com/news/24/07/39785823/elon-musk-confirms-delay-in-tesla-robotaxi-unveil-due-to-important-design-change-but-stays-mum-on-ne">deploy some design changes</a> to the vehicle.
Photo by Jirapong Manustrong on Shutterstock
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
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<li><a href="https://www.benzinga.com/news/24/07/39787824/as-trumps-chances-of-presidency-improve-analysts-say-his-return-to-white-house-could-boost-these-3-s?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">As Trump&#8217;s Chances Of Presidency Improve, Analysts Say His Return To White House Could Boost These 3 Sectors</a></li>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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Tuesday, March 24, 2020