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Amid growing concerns over potential trade tensions, Tim Cook, CEO of Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) , along with other prominent American business leaders, are in China this week. Their visit coincides with the &#8216;China International Supply Chain Expo&#8217; and includes meetings with Chinese officials. This comes as the prospect of a second Donald Trump presidency raises the specter of increased tariffs on Chinese goods.
What Happened: The&nbsp;second annual &#8216;China International Supply&nbsp;Chain Expo&#8217; commenced on Tuesday, marking Cook&#8217;s third visit to China this year. This is&nbsp;his first time attending the&nbsp;expo, underscoring the importance of&nbsp;the Chinese market for Apple&#8217;s operations. In&nbsp;a video interview with Chinese&nbsp;state media, Cook emphasized Apple&#8217;s dedication to China, stating,&nbsp;&#8220;We&#8217;re very committed to China,&nbsp;that&#8217;s the reason I have&nbsp;been here three times.&#8221;
Prior to the expo, Cook and other top executives met with Chinese Premier&nbsp;Li Qiang. The meeting, as reported by&nbsp;the American Chamber of Commerce&nbsp;in China, focused on enhancing economic and trade cooperation. Representatives from companies like Corning and Rio Tinto were also present.
See Also: <a href="https://www.benzinga.com/news/global/24/11/42132984/texas-governor-mandates-state-agencies-to-divest-from-china-will-defend-and-safeguard-itself-from-any-potential-threat?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Texas Governor Mandates State Agencies To Divest From China: &#8216;Will Defend And Safeguard Itself&#8230;From Any Potential Threat&#8217;</a>
The expo, organized by the China International Exhibition Center Group, emphasizes key supply chains, including advanced manufacturing and green technology. 
Why It Matters: The backdrop to this visit is the potential for heightened trade tensions between the U.S. and China. President-elect Trump has announced plans to <a href="https://www.benzinga.com/24/11/42178994/trump-says-he-will-impose-25-tariffs-on-canada-mexico-on-first-day-of-office-and-extra-tariffs-on-china-until-they-pay-attention">impose a 25% tariff </a>on products from Mexico and Canada and an additional 10% tariff on Chinese imports. This move, intended to address issues like illegal immigration and drug trafficking, could significantly impact global markets.
China, on the other hand, has expressed a <a href="https://www.benzinga.com/startups/24/11/41944793/china-pushes-for-win-win-as-u-s-tariff-threat-looms-what-it-means-for-global-markets">desire for cooperation</a> with the U.S., advocating for &#8220;mutual respect, peaceful coexistence, and win-win cooperation.&#8221; However, a senior adviser from Beijing has warned that Trump&#8217;s proposed tariffs <a href="https://www.benzinga.com/government/regulations/24/11/42058282/trumps-tariffs-could-have-severe-consequences-for-us-defense-sector-beijing-adviser-warns">could have severe consequences</a> for the U.S. economy, particularly affecting the defense sector reliant on affordable Chinese components.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42178994/trump-says-he-will-impose-25-tariffs-on-canada-mexico-on-first-day-of-office-and-extra-tariffs-on-china-until-they-pay-attention?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Says He Will Impose 25% Tariffs On Canada, Mexico On First Day Of Office And Extra Tariffs On China Until They &#8216;Pay Attention&#8217;</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

News

General

AAPL

Tim Cook Joins US Executives To Attend China Expo As Donald Trump Threatens Extra Tariffs On Sino Goods

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) executive Sendil Palani on Saturday termed the company&#8217;s direct-to-customer sales model as &#8220;an enormous challenge&#8221; hindered by laws of different states.
What Happened: &#8220;Tesla has been pursuing the direct-to-consumer model for two decades, and it has been an enormous challenge to pursue what we believe is the best model for customers,&#8221; Palani, Vice President of Finance at Tesla, said. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Tesla has been pursuing the direct-to-consumer model for two decades, and it has been an enormous challenge to pursue what we believe is the best model for customers. I spent a portion of this past week visiting our Northeast region, and was reminded about how these laws are…
&mdash; Sendil Palani (@sendilpalani) <a href="https://twitter.com/sendilpalani/status/1860408805848215696?ref_src=twsrc%5Etfw">November 23, 2024</a></blockquote>
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Palani was responding to comments from Rivian (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) CEO RJ Scaringe. Scaringe <a href="https://insideevs.com/news/741992/rivian-ceo-dealer-model/">told</a> InsideEVs that the direct-to-customer sales model is faced with several hardships. 
&#8220;I think you essentially have, like, lots of dealers have paid for laws that make it really hard for us to interact directly with the consumer,&#8221; he said, remarking that it is &#8220;as close as you can get to corruption.&#8221;
Why It Matters: <a href="https://www.benzinga.com/news/23/07/33417968/tesla-showroom-to-come-up-on-tribal-land-in-connecticut-to-skirt-state-ban-on-direct-sales">Certain states </a>such as Louisiana prohibit direct-to-customer sales in an attempt to protect dealers. The laws to sell to customers without dealers as middlemen differ across states and their <a href="https://www.benzinga.com/news/20/01/15160476/tesla-and-michigan-reach-settlement-for-direct-delivery-to-customers">application, too, varies.</a> 
While Tesla&#8217;s local sales and delivery teams observe restrictions on sales activities and manage deliveries through a small number of licensed locations, company customers have to travel long distances to pick up vehicles, Palani said. 
&#8220;Sadly, this is common throughout much of the country, resulting in higher costs and a worse customer experience for the affected regions,&#8221; he added. 
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 Next:
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<li><a href="https://www.benzinga.com/general/space/24/11/42181019/spacex-falcon-heavy-to-launch-nasas-dragonfly-mission-to-saturns-largest-moon-in-2028">SpaceX Falcon Heavy To Launch NASA&#8217;s Dragonfly Mission To Saturn&#8217;s Largest Moon In 2028</a></li>
</ul>
Photo courtesy: Unsplash

Tech

RIVN

TSLA

Rivian CEO, Tesla Exec Slam Restrictions On Direct-To-Customer Sales: RJ Scaringe Says It Is 'As Close As You Can Get To Corruption'

Business Outlook
For the fourth quarter of 2024, UCLOUDLINK expects total revenues to be between US$25.0 million and US$30.0 million, representing an increase of 15.2% to 38.2% compared to the same period of 2023.
The above outlook is based on current market conditions and reflects the Company's preliminary estimates of market and operating conditions and customer demand.

Earnings

Guidance

UCLOUDLINK Expects Q4 Revenues Of $25M-$30M Vs. $26.95M Consensus

Ucloudlink Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UCL#NASDAQ">UCL</a>) reported quarterly earnings of $0.09 per share which beat the analyst consensus estimate of $0.06 by 50 percent. This is unchanged from the same period last year. The company reported quarterly sales of $25.192 million which missed the analyst consensus estimate of $26.050 million by 3.29 percent. This is a 5.57 percent increase over sales of $23.863 million the same period last year.

Earnings Beats

Earnings Misses

Ucloudlink Group Q3 2024 GAAP EPS $0.09 Beats $0.06 Estimate, Sales $25.192M Miss $26.050M Estimate

Kohl&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KSS#NYSE">KSS</a>) will release earnings results for the third quarter, before the <a href="https://www.benzinga.com/quote/KSS/earnings">opening bell on Tuesday, Nov. 26.</a>
Analysts expect Kohl&#8217;s to report quarterly earnings at 27 cents per share. That's down from 54 cents per share a year ago. The Menomonee Falls, Wisconsin-based company projects to report quarterly revenue of $3.71 billion, compared to $3.84 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Monday, Kohl&#8217;s said Chief Executive Officer Tom Kingsbury plans to step down as CEO, effective Jan. 15, 2025.
Kohl&#8217;s shares gained 7.7% to close at $18.34 on Monday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/TJX/analyst-ratings">analysts have rated the company</a> &lt;/em>&lt;/a> in the recent period.
<ul>
<li>Citigroup analyst Paul Lejuez maintained a Neutral rating and cut the price target from $19 to $18 on Nov. 18. This analyst has an accuracy rate of 64%.</li>
<li>JP Morgan analyst Matthew Boss downgraded the stock from Neutral to Underweight with a price target of $19 on Aug. 29. This analyst has an accuracy rate of 67%.</li>
<li>Evercore ISI Group analyst Michael Binetii maintained an In-Line rating and cut the price target from $22 to $20 on Aug. 29. This analyst has an accuracy rate of 65%.</li>
<li>Baird analyst Mark Altschwager maintained an Outperform rating and slashed the price target from $27 to $25 on Aug. 29. This analyst has an accuracy rate of 68%.</li>
<li>Telsey Advisory Group analyst Dana Telsey maintained a Market Perform rating with a price target of $23 on Aug. 28. This analyst has an accuracy rate of 60%.</li>
</ul>
Considering buying KSS stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="558" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/26030252/image-270-1024x558.png" alt="" class="wp-image-664883" style="width:571px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/26030252/image-270-1024x558.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/26030252/image-270-300x163.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/26030252/image-270-768x418.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/26030252/image-270.png 1157w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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</ul>

Price Target

Pre-Market Outlook

Markets

Analyst Ratings

Trading Ideas

Kohl's Gears Up For Q3 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

ArcelorMittal is today providing an update on its decarbonization plans in Europe.
The Company has previously announced the intention to invest in lower carbon emissions "hydrogen ready" DRI-EAF facilities to replace several blast furnaces across our European business, as a key strategic first step towards reducing emissions. In all cases, the host countries offered funding support for these projects, with the approval of the European Commission.
These projects were premised on a favourable combination of policy, technology and market developments that would facilitate decarbonization investment by helping offset the significantly higher capital and operating costs that this transition strategy would involve. This included being able to use natural gas until green hydrogen became competitive.
However European policy, energy and market environments have not moved in a favourable direction. Green hydrogen is evolving very slowly towards being a viable fuel source and natural gas based DRI production in Europe is not yet competitive as an interim solution. Furthermore, there are significant weaknesses in the carbon border adjustment mechanism (CBAM), trade protection measures need strengthening in response to increasing imports due to overcapacity in China, and there is limited willingness among customers to pay premiums for low-carbon emissions steel.
Before taking final investment decisions it is necessary to have full visibility on the policy environment that will ensure higher cost steelmaking can be competitive in Europe without a global carbon price. &nbsp;&nbsp; We expect several important developments in 2025, including the scheduled review of the CBAM, an anticipated review of the steel safeguards, and the publication of the Steel and Metals Action Plan. When complete, these initiatives will provide the parameters needed to shape the business case for decarbonization investments in Europe.
In the meantime, we are continuing with engineering work, as well as analysing a phased approach that would first start with constructing electric arc furnaces, which can also be fed with scrap steel to significantly reduce emissions. &nbsp;&nbsp; ArcelorMittal remains committed to decarbonizing and achieving net-zero by 2050. Activity undertaken in Europe to date includes:
<ul>
<li>In May we commenced construction on a 1.1 million tonne capacity EAF at our long products plant in Gijón, Spain. This will ultimately lead to a reduction of 1 million tonnes of CO2e a year.</li>
<li>Good progress is being made with our efforts to increase production to 1.6 million tonnes a year by 2026 at our flat products plant in Sestao, Spain, where we have two EAFs. Once complete, much of this production will be our XCarb&#xAE; recycled and renewably produced low-carbon emissions steel.</li>
<li>We continue to lead the market with sales of our XCarb&#xAE; low-carbon emissions steel, which have a carbon footprint of as low as 300kg per tonne of steel produced, and are on track to double sales to c. 400,000 tonnes this year. &nbsp;</li>
</ul>
The longer timeline required for final investment decisions will not impact the Company's ability to meet customer demand for low-carbon emissions steel as the Sestao revamp project will materially increase the Company's ability to produce low-carbon emissions flat products.
Any revision to the current 2030 intensity targets will be set out in the forthcoming Climate Action Report 3. From an absolute emissions perspective, the absolute emissions of the Company's operations in Europe have reduced by 28.2% since 2018, largely due to lower production due to weak demand. &nbsp;&nbsp; Longer term, the Company remains committed to all technologies that offer the potential to take steelmaking to near-zero. This includes carbon capture utilisation and storage (CCUS), although like green hydrogen, this technology is likely to only make a meaningful difference after 2030. It already has one industrial scale CCU facility operational at its plant in Gent, Belgium, and a further two pilot projects underway in Gent.
Aditya Mittal, Chief Executive, ArcelorMittal, commented:
"ArcelorMittal remains absolutely committed to decarbonization. It is the right thing to do, both for the company and the planet. I remain confident that we can still achieve our net-zero by 2050 target, but the shape of how we will achieve this could differ from what was previously announced.
"We have been very grateful for the support offered to date by different governments to help accelerate this process. But the scale of the challenge requires further policy initiatives to unlock increased investment. We would have liked to move faster, but the reality is the regulatory environment required to support the business case for investments is not yet in place.
"I hope to see new policies coming into play that will support an accelerated transition. The Green Deal Industrial Plan and the Steel and Metals Action Plan, and the legislation flowing from them, will be important, as well as regulation to stimulate the demand signal. While we do have customers that want low-carbon steel, those that do and are willing to pay a premium are still very much in the minority. &nbsp;&nbsp; "I expect policy decisions taken in 2025 will help bring clarity on how we will move forward to decarbonize our assets, taking advantage of our unique global profile, superior technology and raw materials mix and industry leading innovation."
&nbsp;

ArcelorMittal Signals Shift in European Decarbonization Strategy Amid Policy Delays

The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, while the index remained in the &#8220;Greed&#8221; zone on Monday.
U.S. stocks settled higher on Friday, with the Dow Jones index and S&amp;P 500 hitting fresh records during the session. Major indices on Wall Street recorded gains last week, with the Dow gaining around 2% and the S&amp;P 500 adding around 1.7%.
Bath &amp; Body Works, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBWI#NYSE">BBWI</a>) shares jumped around 16.5% on Monday after the company reported better-than-expected third-quarter results and raised its 2024 outlook.
On the economic data front, the Chicago Fed National Activity Index fell to -0.40 in October compared to -0.27 in the previous month and versus market estimates of -0.20. The Dallas Fed's Texas manufacturing activity index rose to -2.7 in November compared to a reading of -3 in the previous month and versus market estimates of -2.4.
Most sectors on the S&amp;P 500 closed on a positive note, with real estate, materials, and consumer discretionary stocks recording the biggest gains on Monday. However, energy and information technology stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 440 points to 44,736.57 on Monday. The S&amp;P 500 rose 0.30% to 5,987.37, while the Nasdaq Composite rose 0.27% to close at 19,054.84 during Monday's session.
Investors are awaiting earnings results from Best Buy Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>), HP Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>), and Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 61.5, the index remained in the &#8220;Greed&#8221; zone on Monday, versus a prior reading of 60.8.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/24/11/42174548/jim-cramer-says-this-stock-is-a-bitcoin-play-and-he-prefers-to-own-bitcoin">Jim Cramer Says This Stock Is A Bitcoin Play And He Prefers To Own Bitcoin</a></li>
</ul>
Photo courtesy: Shutterstock

BBWI

DELL

Dow, S&P 500 Reach Fresh Highs: Investor Sentiment Improves, Fear Index Remains In 'Greed' Zone

NTRA

Reported Earlier, Natera To Present Latest Data On Signatera At 2024 San Antonio Breast Cancer Symposium

Elon Musk&#8216;s company, Neuralink, is set to initiate a new feasibility trial involving its innovative brain implant technology and a robotic arm. This trial aims to explore the safety and effectiveness of Neuralink&#8217;s wireless brain-computer interface and surgical robot.
What Happened: The study, named PRIME, will focus on patients with quadriplegia, enabling them to control external devices through thought, Reuters reported on Tuesday. Neuralink plans to enroll participants from its ongoing PRIME trial into this feasibility study, as mentioned in a post on social media platform X.
Recently, Neuralink received <a href="https://www.benzinga.com/24/11/42103314/elon-musks-neuralink-gets-green-light-to-launch-brain-chip-trial-in-canada-recruitment-is-now-open">approval from Health Canada</a> to conduct a trial of its device in Canada. Canadian neurosurgeons, in collaboration with Neuralink, have been authorized to recruit six patients with paralysis for the study. In the U.S., Neuralink has already implanted the device in two patients, allowing one to engage in activities such as playing video games and browsing the internet.
See Also: <a href="https://www.benzinga.com/news/24/11/42157649/trumps-doge-co-lead-elon-musk-slams-lockheed-martins-f-35-fighter-jets-advocates-drone-warfare-as-pentagon-defends-1-8-trillion-program?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s DOGE Co-Lead Elon Musk Slams Lockheed Martin&#8217;s F-35 Fighter Jets, Advocates Drone Warfare As Pentagon Defends $1.8 Trillion Program</a>
The company reports that the device is functioning well in the second patient, who is&nbsp;using it to play video&nbsp;games and learn 3D design. The U.S. FDA and Neuralink have not yet provided further&nbsp;details on the feasibility study.
Why It Matters: The potential of Neuralink&#8217;s brain chip technology to transform lives has been a topic of interest since Musk first introduced the concept. As reported in July, Musk <a href="https://www.benzinga.com/startups/24/07/40016299/we-want-to-give-people-super-powers-elon-musk-envisions-neuralink-brain-chip-transforming-lives-like">envisioned the brain chip </a>offering superhuman abilities, akin to characters from science fiction like Geordi La Forge from Star Trek. The company, founded in 2016, aims to revolutionize the way humans interact with technology and address neurological disorders through brain-computer interfaces (BCIs). 
The initial human trials began earlier this year with Noland Arbaugh, a 30-year-old quadriplegic, who received the N1 Implant, allowing him to control a computer cursor with his thoughts.
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<li><a href="https://www.benzinga.com/news/24/11/42152721/tesla-cybertruck-part-of-donald-trumps-motorcade-will-vehicle-land-government-deals?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Cybertruck Part Of Donald Trump&#8217;s Motorcade, Will Vehicle Land Government Deals?</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.
Photo courtesy: Shutterstock

Elon Musk's Neuralink To Launch New Feasibility Trial With Brain Implant And Robotic Arm

With U.S. stock futures trading slightly higher this morning on Tuesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Best Buy Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>) to report quarterly earnings at $1.29 per share on revenue of $9.63 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Best Buy shares rose 0.4% to $93.37 in after-hours trading.</li>
<li>Poseida Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSTX#NASDAQ">PSTX</a>) agreed to be acquired by Roche in a $1.5 billion deal. Poseida Therapeutics shares jumped 11.2% to $3.18 in the after-hours trading session.</li>
<li>Analysts expect HP Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>) to post quarterly earnings at 93 cents per share on revenue of $13.99 billion. The company will release earnings after the markets close. HP shares fell 0.3% to $39.19 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Zoom Video Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>) posted better-than-expected results for its third quarter and raised its guidance for the full year. Zoom reported third-quarter revenue of $1.18 billion, beating the consensus estimate of $1.16 billion. The communications company reported third-quarter adjusted earnings of $1.38 per share, beating analyst estimates of $1.31 per share. Zoom shares fell 5.6% to $84.09 in the after-hours trading session.</li>
<li>Analysts expect Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) to report quarterly earnings at $2.05 per share on revenue of $24.65 billion after the closing bell. Dell shares fell 0.8% to $143.00 in after-hours trading.</li>
</ul>
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</ul>
Photo courtesy: Flickr

PSTX

Best Buy, HP And 3 Stocks To Watch Heading Into Tuesday

<ul>
<li>The annual dividend on the common stock of the Corporation was raised to $1.16 per share from $1.13 per share.</li>
<li>The Board of Directors authorized the first quarterly dividend of 29.00 cents ($0.2900) a share to be paid on February 18, 2025, to stockholders of record at the close of business on January 13, 2025.</li>
</ul>

Dividends

Reported Earlier, Hormel Foods Increases Annual Dividend By 3% To $1.16/Share; Declared First Quarterly Dividend Of $0.29/Share Payable February 18, 2025

CHARU

Reported Earlier, Charlton Aria Acquisition Announces Separate Trading Of Class A Shares And Rights Starting November 26

Berry plans to use proceeds from the transaction to pay down outstanding debt at Berry. Adjusted for both the cash distribution received in November 2024 on close of Berry's Health, Hygiene and Specialties Global Nonwovens and Films business ("HHNF") spin-off, and the net cash proceeds1 expected on the sale of Tapes, totaling $1.3 billion, Berry's pro forma net debt as of September 30, 2024 was approximately $5.9 billion (3.5x LTM net leverage).

BERY

Reported Earlier, Berry Global Sells Specialty Tapes Business To Nautic Partners For $540M

Justin Sun, the founder of the TRON (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/trx/usd">TRX</a>) blockchain, announced a $30 million investment in President-elect Donald Trump-backed cryptocurrency project&nbsp;World Liberty Financial&nbsp;(WLFI), lending support to the &#8220;Make America Great Again&#8221; movement.
What Happened: On Monday, Sun revealed on X that Tron became the largest investor in&nbsp;the decentralized finance (DeFi) project with the strategic expenditure. 
He said, &#8220;The U.S. is becoming the blockchain hub, and Bitcoin owes it to Donald Trump!  TRON is committed to making America great again and leading innovation. Let&#8217;s go!&#8221;
In response, the WLFI team said they were honored to have the support of Sun and the Tron ecosystem.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We are thrilled to invest $30 million in World Liberty Financial <a href="https://twitter.com/worldlibertyfi?ref_src=twsrc%5Etfw">@worldlibertyfi</a> as its largest investor. The U.S. is becoming the blockchain hub, and Bitcoin owes it to <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a>! TRON is committed to making America great again and leading innovation. Let&#39;s go! <a href="https://t.co/cISTsVYP1f">pic.twitter.com/cISTsVYP1f</a>
&mdash; H.E. Justin Sun &#x1f34c; (@justinsuntron) <a href="https://twitter.com/justinsuntron/status/1861121947372773545?ref_src=twsrc%5Etfw">November 25, 2024</a></blockquote>
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Sun&#8217;s $30 million investment catapulted total sales of the project&#8217;s governance token past $50 million, <a href="https://dune.com/fergmolina/world-liberty-financial" target="_blank" rel="noreferrer noopener">according&nbsp;</a>to a Dune Analytics dashboard, although still a long way away from the ambitious $300 million target.
The project had a slow start, managing to raise just 4% of its token presale target within the first 48 hours of its launch.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42180180/peter-schiff-warns-trumps-bitcoin-support-could-lead-to-economic-chaos-make-america-weaker-as-wall-street-misallocates-bigly">Peter Schiff Warns Trump&#8217;s Bitcoin Support Could Lead To Economic Chaos, Make America &#8216;Weaker&#8217; As Wall Street Misallocates &#8216;Bigly&#8217;</a>
Why It Matters: Promoted aggressively by Trump and his family,&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40905315/donald-trumps-new-crypto-project-world-liberty-financial-everything-you-need-to-know" target="_blank" rel="noreferrer noopener">the project</a>&nbsp;attracted significant attention right in the middle of the GOP nominee&#8217;s presidential campaign.
The WLFI token would serve as the platform&#8217;s governance token, enabling users to engage in borrowing, lending, and other DeFi activities. However, its non-transferable, non-yielding nature may have turned off speculative traders, adding to the lackluster presale.
According to the World Liberty Gold&nbsp;Paper, WLFI <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41395007/trump-affiliated-entity-will-get-75-of-world-liberty-financials-revenue-and-22-of-wlfi-tok">would allocate 75% of its protocol revenues</a> to a firm associated with the former President, DT Marks DEFI, LLC.
As for Sun, he remains one of the largest publicly known cryptocurrency investors, boasting a portfolio worth more than $1.8 billion, <a href="https://platform.arkhamintelligence.com/explorer/entity/justin-sun" target="_blank" rel="noreferrer noopener">data </a>from Arkham Intelligence revealed.
Photo Courtesy: Wikimedia Commons
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$TRX

Crypto Billionaire Justin Sun Pledges $30M Investment In Trump-Backed World Liberty Financial: What's Happening?

Sell-side clients benefit from simplified integration and connectivity to LTX, reduced operational risk and implementation costs and improved time-to-marke

Broadridge's LTX Partners With TransFICC, Offering  Faster Access And Lower Costs For Fixed Income eTrading

The Company expects to receive aggregate gross proceeds of US$8.20 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters an option, exercisable within forty-five (45) days after the closing of the Offering, to purchase up to an additional 307,500 ADSs at the public offering price, less underwriting discounts. The Offering is expected to close on or about November 27, 2024, subject to the satisfaction of customary closing conditions.

IPOs

WYHG

Reported Earlier, Wing Yip Food Prices Its $8.2M Initial Public Offering Of 2.05M American Depositary Shares At $4/ADS

Guidance
In the Group's Annual Report 2023, Cadeler provided guidance for the financial year ending 31 December 2024 indicating that full-year revenue was expected to fall within the range of EUR 225 million to EUR 245 million, while full-year EBITDA was expected to be between EUR 105 million and EUR 125 million. Cadeler has today increased its revenue guidance for the financial year 2024, as it now expects full-year revenue to fall within the range of EUR 243 million to EUR 253 million, principally due to clients calling more options under the Group's existing contracts than was previously assumed, higher vessel utilisation as a result of the Group having secured contracts for the provision of operations and maintenance services between installation projects, and the receipt of termination fees in respect of a vessel reservation agreement. In addition, Cadeler has revised and narrowed its EBITDA guidance within the upper end of the range it has previously communicated, as it now expects full-year EBITDA to range between EUR 115 million and 125 million.

CDLR

Cadeler Expects FY24 Revenue Of €243M-€253M (Prior €225M-€245M)

If finalized, the loan would support the construction of Rivian's next facility in Stanton Springs North, near the city of Social Circle, Georgia, substantially expanding the company's domestic production capacity to support demand from the United States and international markets. This loan from DOE would provide significant funding for production of the company's midsize platform, which underpins the R2, a midsize SUV, and the R3/R3X, a midsize crossover. Designed, engineered, and built in America to deliver an incredible combination of capability, function, performance, and pricing, Rivian believes its R2 and R3 vehicle lines will be critical drivers in the company's long-term growth and profitability.

Reported Earlier, Rivian Secures Conditional $6.6B DOE Loan Commitment To Expand Electric Vehicle Manufacturing And Development In US

Cadeler Reported Q3 Revenue Of €81M Vs €23M YoY

Financial analyst Jim Cramer&#8216;s recent recommendation to &#8220;own&#8221; Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) stocks has triggered a widespread investor revolt, with social media users loudly proclaiming their intent to do the opposite.
What Happened: CNBC&#8217;s &#8220;Mad Money&#8221; host Cramer&#8217;s Monday statement on X, &#8220;Apple, own it, don&#8217;t trade it!&#8221; quickly became a catalyst for what traders call the &#8216;Inverse Cramer&#8217; phenomenon—a strategy where investors systematically bet against his stock recommendations.
Online commentary ranged from satirical to scathing. One user, Tommy Famous, criticized Cramer as a &#8220;financial QVC&#8221; who has &#8220;led audiences into losses,&#8221; suggesting his recommendations are more entertainment than serious financial advice.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Jim Cramer, you've officially cemented yourself as the ultimate inverse indicator. Every word you utter is like a green light for the opposite trade. ‘Apple, own it, don't trade it'? Nah, that translates to SELL IT IMMEDIATELY and SHORT IT TO THE GROUND. You're not a market…
&mdash; Tommy Famous (@TommyBeFamous) <a href="https://twitter.com/TommyBeFamous/status/1861055066964123941?ref_src=twsrc%5Etfw">November 25, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/global/24/11/42179729/as-nvidia-maintains-chip-supremacy-jim-cramer-says-the-so-called-enemies-of-semiconductor-giant-arent-really-enemies">As Nvidia Maintains Chip Supremacy, Jim Cramer Says Foes Of Semiconductor Giant &#8216;Aren&#8217;t Really Enemies&#8217;</a>
Notable social media reactions included Thomas Peters <a href="https://x.com/thomasopeters/status/1861106660028358992">describing</a> it as &#8220;a great run&#8221; but ultimately follows the Inverse Cramer strategy. Another user <a href="https://x.com/Kyl0Z3n/status/1861062070470332662">humorously</a> suggested it&#8217;s time to sell Apple shares. Some users even pledged to <a href="https://x.com/thecryptomars/status/1861055235235422225">switch</a> technology brands in response. 
The phenomenon isn&#8217;t new. In October 2022, Tuttle Capital launched ETFs specifically designed to track and potentially profit from Cramer&#8217;s stock picks—including an &#8220;Inverse Cramer&#8221; fund that recently announced its shutdown.
Matthew Tuttle, CEO of Tuttle Capital, stated the ETF&#8217;s original mission was to &#8220;point out the danger of following TV stock pickers&#8221; and demonstrate the <a href="https://www.benzinga.com/etfs/specialty-etfs/24/01/36793492/exclusive-inverse-cramer-etf-shuts-down-how-the-magnificent-7-stocks-factor-in-and-a-broken-c">lack of consistent accountability</a> in financial media recommendations.
It is interesting to note that Cramer also predicted Vice President Kamala Harris's victory over now President-elect Donald Trump in the 2024 election on Nov. 4, <a href="https://www.cnbc.com/2024/11/04/cramer-says-mondays-action-suggests-some-anticipate-a-harris-win.html">according</a> to CNBC. "I'm not sure the market's right about what a Harris presidency would mean for business, but at least now we have a blueprint for what Wall Street thinks it'll mean," he said.
Price Action: Apple&#8217;s stock closed Monday at $232.87, up 1.31% for the day, with a year-to-date gain of 25.44%, according to <a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
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<li><a href="https://www.benzinga.com/24/11/42180029/ark-invest-shakes-up-portfolio-with-big-tesla-and-amazon-trades">Cathie Wood-Led Ark Invest&#8217;s Latest Portfolio Maneuver: Dumps Tesla And Palantir Shares, Buys Amazon And AMD Stock</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a>

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