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SpaceX&#8216;s Starbase facility will &#8220;soon&#8221; be an official new city, company CEO and billionaire Elon Musk said on Thursday after Cameron County Judge Eddie Treviño, Jr. ordered an election for the incorporation of Starbase as a Type-C municipality. 
What Happened: In December, Starbase General Manager&nbsp;Kathryn Lueders <a href="https://www.benzinga.com/24/12/42481346/spacex-eyes-turning-its-starbase-site-into-a-city">submitted a letter </a>to the Cameron County Judge&nbsp;requesting an election to determine whether Starbase should be incorporated as a city.
On Wednesday, Treviño, Jr. said that they have reviewed the petition and signed an order finding satisfactory proof of the statutory requirements being met. The judge said in a statement that Starbase has the required number of inhabitants to be incorporated as a Type-C municipality and ordered an incorporation election for May 3rd from 7:00 a.m. to 7 p.m. Early voting will be held from April 22 through April 29, the statement said.
"If the election passes, this will be the newest town in Cameron County since Los Indios in 1995. We look forward to seeing the outcome of this election," the judge said. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Starbase, Texas, will soon be an official new city <a href="https://t.co/ZODDi4EZKA">https://t.co/ZODDi4EZKA</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1889924144982282600?ref_src=twsrc%5Etfw">February 13, 2025</a></blockquote>
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Why It Matters: SpaceX, in its petition dated December, said that the company needs the ability to grow Starbase as a community to continue growing the workforce necessary to rapidly develop and manufacture its ambitious Starship launch vehicle. 
The company also said that incorporating Starbase as a city will streamline the processes required to build the amenities necessary to make the area a "world-class place" to live for the people already there as well as future employees of the company.
SpaceX, on its website, currently lists its headquarters as Hawthorne, California, where it produces its Falcon 9 workhorse.
In July, Musk said he would move the headquarters of&nbsp;SpaceX&nbsp;from Hawthorne to&nbsp;<a href="https://www.benzinga.com/news/24/07/39804744/spacex-x-to-move-headquarters-from-california-to-texas-musk-calls-it-the-final-straw-criticizes-gov" target="_blank" rel="noreferrer noopener">Starbase</a>. The company does all operations surrounding its&nbsp;<a href="https://www.benzinga.com/general/space/24/12/42477647/elon-musk-reveals-spacexs-new-starship-spacecraft-is-easier-to-manufacture-and-less-susceptible-to-high-heating-ahead-of-7th-test-flight" target="_blank" rel="noreferrer noopener">ambitious Starship launch vehicle</a>&nbsp;in Starbase, Texas, including its manufacturing and testing.
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/25/02/43684382/tesla-offers-discounts-up-to-6000-on-model-year-2024-cybertrucks-in-inventory">Tesla Hikes Discounts On Cybertrucks By 3X To $6000 As It Looks To Clear 2024 Inventory</a></li>
</ul>
Photo courtesy: SpaceX

News

SPACE

Tech

SpaceX CEO Elon Musk Says Starbase Will 'Soon' Be A New City After Cameron County Judge Orders Incorporation Election

Hester Peirce, head of the U.S. Securities and Exchange Commission&#8217;s (SEC) cryptocurrency task force, said Wednesday that most meme coins flooding the cryptocurrency market may be out of the agency's jurisdiction. 
What happened: During an interview with Bloomberg, Pierce was asked whether meme coin launches by President Donald Trump and First Lady Melania Trump made the SEC's oversight of the cryptocurrency industry difficult.
"We always have to look at the facts and circumstances, but many of the meme coins that are out there probably do not have a home in the SEC on our current set of regulations," the SEC Commissioner replied.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Head of the SEC Crypto Task Force and SEC Commissioner Hester Peirce gives her take on memecoins and says the SEC will look at the facts and circumstances, but says most memecoins probably don&#39;t have a home under the current set of regulations <a href="https://t.co/h1Wg4WflXB">https://t.co/h1Wg4WflXB</a> <a href="https://t.co/aXGHjEgFiN">pic.twitter.com/aXGHjEgFiN</a>
&mdash; Bloomberg Crypto (@crypto) <a href="https://twitter.com/crypto/status/1889397860287881702?ref_src=twsrc%5Etfw">February 11, 2025</a></blockquote>
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Pierce, affectionately known as "Crypto Mom, said that Congress or the CFTC was free to intervene and address the grey area.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43682382/robinhood-ceo-vlad-tenev-reveals-what-hes-most-excited-about-as-crypto-revenue-skyrockets-8x-stock-surges-15-after-hours">Robinhood CEO Vlad Tenev Reveals What He&#8217;s &#8216;Most Excited&#8217; About As Crypto Revenue Skyrockets 8X, Stock Surges 15% After Hours</a>
Why It Matters: Pierce, known for her <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38188210/crypto-mom-hester-peirce-regulation-should-take-a-productive-path">supportive stance on cryptocurrencies</a>, was chosen to lead the agency-wide effort to develop a clear regulatory framework for the cryptocurrency industry. 
The Republican previously criticized the Gary Gensler-led SEC for <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40619809/crypto-mom-hester-peirce-expresses-concern-at-secs-regulatory-approach-on-digital-assets-i">overstepping its authority</a> and enacting restrictions that undermine the benefits that cryptocurrencies provide.
Notably, Trump, who promised to bring about a more lenient regulatory environment for digital assets under his watch, launched his meme coin Official Trump (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) just before his inauguration last month. This was followed by an Official Melania (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">MELANIA</a>) launch by First Lady Melania.
There has been a lot of speculation that the first couple will <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43118779/trump-memecoin-regains-momentum-rallies-22-as-the-president-calls-billions-earned-through-the-venture-as-peanuts">benefit directly</a> from the gains.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43674050/us-releases-russian-bitcoin-exchange-co-founder-alexander-vinnik-in-prisoner-deal-with-moscow">US Releases Russian Bitcoin Exchange Co-Founder Alexander Vinnik In Prisoner Deal With Moscow</a></li>
</ul>
Photo courtesy: Shutterstock

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

Cryptocurrency

Markets

$MELANIA

$TRUMP

SEC Crypto Task Force Head Heister Peirce Was Asked If Trump, Melania Memecoin Launches Made Her Job 'Difficult:' This Is What 'Crypto Mom' Said

Oppenheimer analyst Ken Wong maintains HubSpot (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUBS#NYSE">HUBS</a>) with a Outperform and raises the price target from $850 to $900.

Price Target

Analyst Ratings

HUBS

Oppenheimer Maintains Outperform on HubSpot, Raises Price Target to $900

B of A Securities analyst Derik De Bruin maintains Waters (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAT#NYSE">WAT</a>) with a Neutral and lowers the price target from $430 to $410.

B of A Securities Maintains Neutral on Waters, Lowers Price Target to $410

Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) may be facing a turning point as rumors suggest the U.S. government could intervene to push a joint venture between the <a href="https://www.benzinga.com/trading-ideas/movers/25/02/43638878/intel-shares-are-up-today-whats-going-on">struggling chipmaker</a> and Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>).
What Happened: According to Baird analyst Tristan Gerra, supply chain sources indicate that the U.S. government is considering forcing Intel into a joint venture with TSMC to bolster domestic chip manufacturing, <a href="https://www.investing.com/news/stock-market-news/rumor-us-government-could-force-intel-into-jv-deal-for-fab-unit-3865282">reported</a> Investing.com.
The deal would see TSMC deploy engineers to Intel's advanced 3nm and 2nm fabrication plants, leveraging its expertise to help ensure the success of Intel's foundry business.
Under the rumored arrangement, the fab unit could be spun off into a new entity co-owned by Intel and TSMC, with the latter overseeing operations.
See Also: <a href="https://in.benzinga.com/markets/equities/25/01/43376506/intel-will-be-fighting-for-every-socket-in-the-data-center-business-says-co-ceo-michelle-holthaus-as-competition-from-amd-nvidia-heats-up">Intel &#8216;Will Be Fighting For Every Socket&#8217; In The Data Center Business, Says Co-CEO Michelle Holthaus As Competition From AMD, Nvidia Heats Up</a>
The new company could also qualify for funding under the U.S. CHIPS Act, aimed at revitalizing the U.S. semiconductor industry.
"While there is no confirmation and potential completion of this project could be lengthy, we think this move makes sense…" Gerra noted.
Why It Matters:  Intel, once the <a href="https://www.benzinga.com/tech/25/02/43680696/bill-gates-has-a-soft-spot-for-intel-but-says-the-chip-giant-has-lost-its-way-questions-whether-the-company-can-recover-after-ceo-exit-and-falling-behind-in-ai">undisputed leader in semiconductor</a> manufacturing, has faced challenges and lost ground to rivals like Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>).
Its stock plunged 60% last year as it fell behind in AI chip advancements. The latest <a href="https://www.benzinga.com/insights/earnings/25/01/43353848/intel-earnings-analysis-q4-recap">earnings report marked</a> a third straight quarter of declining revenue, with a weak outlook ahead.
Leadership changes are also underway after CEO Pat Gelsinger&#8217;s <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42275410/intel-ceo-pat-gelsinger-forced-out-by-board-analysts-cheer-potential-strategy-shift-this-move-opens-the-door">departure in December</a>.
Meanwhile, on Tuesday, U.S. Vice President JD Vance spoke at the Paris AI summit about safeguarding American technologies from foreign adversaries.
The U.S. and U.K. also <a href="https://in.benzinga.com/25/02/43646841/us-and-uk-did-not-sign-ai-safety-pact-at-paris-summitvice-president-jd-vance-says-excessive-regulation-could-kill-the-industry">declined to sign</a> a global AI safety declaration at the AI Action Summit in Paris. Their decision set them apart from nearly 60 nations, including China, India, and Germany.
Price Action: Intel&#8217;s stock rose 0.22% in after-hours trading to reach $22.53. Earlier on Wednesday, it closed at $22.48, marking a 7.20% gain, according to <a href="http://pro.benzinga.com/">Benzinga Pro data</a>. TSMC&#8217;s stock edged up 0.30% in after-hours trading, reaching $207. During the regular hours on Wednesday, it closed at $206.38, down 1.13%.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/25/01/43373775/tim-cook-praises-chinas-deepseek-for-driving-efficiency-stresses-apples-prudent-and-deliberate-approach-toward-capital-expenditure" target="_blank" rel="noreferrer noopener">Tim Cook Praises China's DeepSeek For Driving Efficiency, Stresses Apple's ‘Prudent And Deliberate' Approach Toward Capital Expenditure</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

AVGO

INTC

NVDA

Taiwan Semiconductor Could Be The Lifeline Intel Needs As Rumors Swirl Of A US-Backed Joint Venture

Baird analyst Ben Kallo initiates coverage on GE Vernova (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>) with a Outperform rating and announces Price Target of $448.

Initiation

Baird Initiates Coverage On GE Vernova with Outperform Rating, Announces Price Target of $448

In the face of rising competition in the artificial intelligence (AI) market, Chinese tech giant,&nbsp;Baidu (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>), is preparing to roll out its next-generation AI model later this year.
What Happened: Baidu is set to release the next version of its AI model, Ernie 5.0,&nbsp;in the second half of&nbsp;2025, reported <a href="https://www.cnbc.com/2025/02/12/china-tech-giant-baidu-to-release-next-generation-ai-model-this-year-as-deepseek-shakes-up-market.html">CNBC</a> on Thursday. This development comes amid the disruption caused by new entrants like DeepSeek in the AI industry.
The forthcoming model termed a &#8220;foundation model,&#8221; is expected to show significant improvements in multimodal capabilities, enabling the processing and transformation of various data types, including text, video, images, and audio. Chinese&nbsp;AI chatbots from startups and big-tech firms&nbsp;such as Alibaba and ByteDance have outpaced Baidu&#8217;s Ernie despite it being among the first ones to be launched. 
The current Ernie model, Generation 4, was unveiled in October 2023, followed by an upgraded &#8220;turbo&#8221; version, Ernie 4.0,&nbsp;in August 2024. Meanwhile, in a WeChat&nbsp;post today, Baidu also stated that the existing chatbot will be available at no cost for individual users starting in April, reported Bloomberg. This will accompanied by a free advanced search function to offer improved reasoning skills and seamless tool integration to provide expert-level responses.
SEE ALSO: <a href="https://www.benzinga.com/25/02/43682008/openai-phases-out-standalone-o3-gpt-5-to-offer-unified-aialtman-reveals-vague-release-timelines-after-admitting-we-hate-the-model-picker-as-much-as-you-do">OpenAI Moves To Unify AI Models With GPT-5 — Sam Altman Admits, &#8216;We Hate the Model Picker As Much As You Do&#8217;</a>
Why It Matters: The launch of Baidu&#8217;s next-generation AI model comes at a critical juncture as Chinese companies strive to create advanced AI models to rival OpenAI and other U.S.-based firms. On Tuesday, at the World Governments Summit&nbsp;in Dubai, Baidu CEO Robin Li stressed the <a href="https://www.benzinga.com/markets/25/02/43616825/deepseeks-success-just-the-start-more-ai-funding-still-very-much-required-says-baidu-ceo-you-just-dont-know-when-and-where-innovations-come-from">importance of persistent investment </a>in data centers and cloud infrastructure, despite the cost-effectiveness of AI models like DeepSeek. 
He emphasized the potential for cost reductions in foundation models, stating, &#8220;The inference cost [of foundation&nbsp;models] basically can be reduced&nbsp;by more than 90% over&nbsp;12 months,&#8221; stated Li. 
The CEO highlighted the need for more investment to develop smarter models, a statement made in the context of DeepSeek&#8217;s recognition for creating language models that perform comparably to top systems like OpenAI's GPT, but require significantly less computing power.
On Tuesday, Barclays maintained its &#8216;Equalweight&#8217; rating on Baidu stock but raised the stock price target to $95 from $83 as a part of a re-rating of the broader Chinese ADRs.
The launch of DeepSeek&#8217;s revolutionary R1 model rattled the U.S. stock market in late January. NASDAQ lost 3.1%, indicating its highest one-day percentage decline since Dec 18, while chip giant, Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) lost close to $600 billion in market capitalization. 
<ul>
<li>READ MORE: <a href="https://www.benzinga.com/tech/25/02/43682464/nouriel-roubini-says-without-openai-deepseek-could-not-even-exist-dr-doom-explains-why-inflation-and-ai-are-on-collision-course">Nouriel Roubini Says, &#8216;Without OpenAI, DeepSeek Could Not Even Exist&#8217;— &#8216;Dr. Doom&#8217; Explains Why Inflation And AI Are On Collision Course</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

BIDU

After DeepSeek Shook Wall Street, China's Baidu Gears Up For AI Battle With Next-Gen Ernie 5.0 Launch In Late 2025

In a significant cost-saving move, oil behemoth&nbsp;Chevron Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) has announced plans to slash its workforce by up to 20%.
What Happened: Chevron announced on Wednesday that it intends to commence major layoffs this year, aiming to complete the majority by the end of 2026. The move is part of a broader cost-cutting plan, with the company targeting a reduction of $2 billion to $3 billion by the end of 2026, reported <a href="https://www.cnbc.com/2025/02/12/chevron-will-slash-up-to-20percent-of-its-workforce-as-part-of-cost-cutting-plan.html">CNBC</a>
With Chevron&#8217;s total employee count of 45,600 as of December 2023, a 20% cut could result in the severance of over&nbsp;9,000 workers. Vice Chairman Mark Nelson stated that the company intends to offer complete support to the outgoing staff during the transition. &#8220;But responsible leadership requires taking&nbsp;these steps to improve the&nbsp;long-term competitiveness of our company&nbsp;for our people, our shareholders&nbsp;and our communities,&#8221; explained Nelson.
SEE ALSO: <a href="https://www.benzinga.com/news/earnings/25/02/43666595/crude-oil-down-over-2-upstart-shares-jump-following-earnings">Crude Oil Down Over 2%; Upstart Shares Jump Following Earnings</a>
Why It Matters: This decision comes on the heels of Chevron&#8217;s fourth-quarter earnings report, which, despite beating revenue estimates, disappointed on adjusted net earnings. <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43399866/chevrons-free-cash-flow-outlook-tops-estimates-goldman-sachs-sees-upside">The company&#8217;s revenues</a> and other income of $52.23 billion exceeded the consensus of $46.75 billion. However, its adjusted net earnings were $3.63 billion, with an adjusted EPS of $2.06, missing the consensus of $2.11.
Despite this, Goldman Sachs analyst Neil Mehta observed that at 3,349 MBOE/d, Chevron&#8217;s production volumes almost matched their expectations. The company plans further cost reduction even as it foresees a 6% annual growth in its production over the next two years on the back of new wells in Kazakhstan and other nations.
The workforce reduction is a part of Chevron&#8217;s strategic move to improve its competitiveness in a sustained way amid these financial challenges. According to a New York Times report in January, Chevron&#8217;s cost reduction strategies include hiring engineers and geologists in locations with cheaper labor such as in India, to support activities in the U.S. and other countries.
Despite President Donald Trump&#8216;s agenda of &#8216;drill, baby, drill&#8217;, Wall Street expects the U.S. oil producers to be conservative with spending. Senior portfolio manager at Tortoise Capital, Rob Thummel stated, "We expect most oil and gas producers to remain disciplined with capital expenditures. However, less regulation will make it easier to increase drilling activity if commodity prices reach levels that are too high."
Following the announcement, Chevron shares lost over 1% yesterday. The stock has gained nearly 3% over the past year.
<ul>
<li>READ MORE:<a href="https://in.benzinga.com/markets/25/01/43308384/if-you-invested-10-000-in-exxon-mobil-stock-10-years-ago-how-much-would-you-have-now"> If You Invested $10,000 In Exxon Mobil Stock 10 Years Ago, How Much Would You Have Now?</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Economics

Chevron Announces About 20% Workforce Reduction In Cost-Saving Initiative: 'Responsible Leadership Requires Taking These Steps'

Foxconn Technology Group, also known as Hon Hai Precision (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HNHPF#OTC">HNHPF</a>)  Apple Inc.&#8216;s primary iPhone manufacturer, confirmed Wednesday it would consider acquiring Renault&#8217;s stake in Nissan Motor Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NSANY#OTC">NSANY</a>) as part of a broader strategy to expand its <a href="https://www.benzinga.com/general/entertainment/25/02/43566305/deal-dispatch-pharmchem-forgoes-banker-to-run-sale-tgi-fridays-sells-19-restaurants-for-3-1-million">electric vehicle manufacturing business</a>.
What Happened: Chairman Young Liu revealed the company has held discussions about acquiring Nissan shares, though emphasized that any potential stake purchase would be contingent on securing EV manufacturing partnerships with either Nissan or Renault, <a href="https://www.ft.com/content/f6a9cfb0-edba-4336-a2c1-e67238c5ccea">reported</a> the Financial Times. 
&#8220;If [taking a stake] is necessary for co-operation, we will consider it, but buying shares is not our main goal,&#8221; Liu said.
The Taiwanese contract manufacturer is targeting an <a href="https://www.benzinga.com/markets/asia/25/02/43517930/nissan-ceo-seeks-to-end-honda-merger-talks-report">announcement of a cooperation deal</a> within two months, with Renault, Nissan, and Honda Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>) among potential partners. The news sent Nissan shares down 6.3% in Tokyo trading.
See Also: <a href="https://www.benzinga.com/markets/equities/25/02/43683937/teslas-400-million-armored-cybertruck-deal-under-fire-as-short-seller-jim-chanos-questions-elon-musks-doge-role-in-cutting-wasteful-government-spending">Tesla&#8217;s $400 Million Armored Cybertruck Deal Under Fire As Short Seller Jim Chanos Questions Elon Musk&#8217;s DOGE Role In Cutting &#8216;Wasteful Government Spending&#8217;</a>
Why It Matters: This development comes as Renault looks to divest half of its 36% stake in Nissan, currently held in a French trust, following their alliance restructuring in 2023.
Former Nissan executive and current Foxconn EV division chief strategy officer Jun Seki reportedly met with Renault CEO Luca De Meo in December to discuss the potential share acquisition.
The talks emerge amid broader industry shifts, with Nissan <a href="https://www.benzinga.com/markets/asia/25/02/43517930/nissan-ceo-seeks-to-end-honda-merger-talks-report">recently ending merger discussions</a> with Honda that would have created the world&#8217;s fourth-largest automotive group.
Nissan faces mounting pressure from Chinese competition and has announced plans to cut 9,000 jobs and reduce production capacity by 20% as part of its turnaround strategy.
For Foxconn, securing a deal with either Renault or Nissan would mark its first partnership with a traditional automaker outside Taiwan, potentially accelerating its expansion into EV contract manufacturing beyond its current partnerships with startups.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/25/02/43683255/robinhood-ceo-vlad-tenev-says-prediction-markets-are-the-future-amid-super-bowl-lix-suspension-and-missing-regulatory-clarity">Robinhood CEO Vlad Tenev Says &#8216;Prediction Markets Are The Future&#8217; Amid Super Bowl LIX Suspension And Missing &#8216;Regulatory Clarity&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Flickr

Equities

Short Sellers

HNHPF

NSANY

Apple Supplier Foxconn Considers Buying Nissan Shares, But Only If An EV Deal Is In Place

Earnings

ABNB

AENT

AGIO

ALNY

AMAT

APDN

ATUS

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BENF

BFAM

BLIN

BPMC

BRKR

BTOC

CBRE

CEVA

CLBT

CNVS

COHU

COIN

CROX

CYBR

DDOG

DKNG

DNOW

DXCM

EEFT

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ELME

ELVA

FBRT

FROG

GDDY

GEHC

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Hannon Armstrong Sustainable Infrastructure Capital

HASI

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HOUS

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IMPP

INFA

IRDM

IRMD

ISSC

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KELYB

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NVMI

Earnings Scheduled For February 13, 2025

Honda Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>) reported quarterly earnings of $1.31 per share. This is a 23.58 percent increase over earnings of $1.06 per share from the same period last year. The company reported quarterly sales of $36.317 billion which beat the analyst consensus estimate of $34.098 billion by 6.51 percent. This is a 0.46 percent decrease over sales of $36.486 billion the same period last year.

Earnings Beats

Honda Motor Co Q3 2025 GAAP EPS $1.31 Up From $1.06 YoY, Sales $36.317B Beat $34.098B Estimate

FFIE

Reported Earlier, Faraday Future FF 91 2.0 Achieves 76% Residual Value As First Used Model Sells For $235,000 On Bring A Trailer

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk on Thursday said that he is unaware of a <a href="https://www.benzinga.com/markets/equities/25/02/43683937/teslas-400-million-armored-cybertruck-deal-under-fire-as-short-seller-jim-chanos-questions-elon-musks-doge-role-in-cutting-wasteful-government-spending">potential contract for $400 million</a> to provide armored vehicles to the government.
What Happened: &#8220;I'm pretty sure Tesla isn't getting $400M. No one mentioned it to me, at least,&#8221; Musk said in a post reply on social media platform X, formerly Twitter.
<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">I'm pretty sure Tesla isn't getting $400M. No one mentioned it to me, at least.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1889925100918677690?ref_src=twsrc%5Etfw">February 13, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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The U.S. State Department&#8217;s procurement forecast for 2025 had previously included a potential $400 million armored electric vehicle purchase from Tesla starting in the fourth quarter of 2025 and spanning five years. 
However, the department has now dropped the name of the Musk-lead EV company from the document, instead choosing not to name a manufacturer, after it raised <a href="https://www.benzinga.com/markets/equities/25/02/43683937/teslas-400-million-armored-cybertruck-deal-under-fire-as-short-seller-jim-chanos-questions-elon-musks-doge-role-in-cutting-wasteful-government-spending">conflict of interest concerns</a> provided Musk is now leading the Department of Government Efficiency in the Trump presidency. 
The document, however, continues to list planned armored BMW X5/X7 purchases for $40 million as well as other armored sedan and EV purchases from unnamed manufacturers. All these contracts, however, are only in the planning stage.
Why It Matters: Tesla makes no military vehicles. However, the company touts the latest addition to its lineup- the Cybertruck- to be bulletproof. Musk has previously even termed the vehicle as the &#8220;finest in apocalypse defense technology.&#8221;
The premium variant of the Cybertruck is priced at around $100,000, and a $400 million contract would have got the government nearly 4000 Cybertrucks and provided a big boost to Musk&#8217;s EV company after it reported a <a href="https://www.benzinga.com/tech/25/01/43327268/tesla-expects-50-surge-in-energy-storage-deployments-for-2025-after-segment-revenue-doubles-in-q4">drop in revenue from its automotive segment last year</a>.
In 2024, the company reported a 6% drop in automotive revenue to $77.07 billion following a drop in annual deliveries and <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">discounting aimed at increasing demand</a>. 
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> 
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<li><a href="https://www.benzinga.com/tech/25/02/43683612/tesla-fights-supercharger-vandalism-and-theft-with-dye-bombs-cable-engravings">Tesla Fights Supercharger Vandalism And Theft With Dye Bombs, Cable Engravings</a></li>
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Photo courtesy: Shutterstock

Politics

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Tesla CEO Elon Musk Denies Potentially Bagging $400 Million Government Contract For Armored Vehicles: 'No One Mentioned It To Me, At Least'

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<li>Network will generate new consumer and enterprise revenue streams across industries such as ports, mining and natural gas.</li>
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This strategic move reinforces Envirotech's commitment to expanding U.S. manufacturing, strengthening fleet services, and supporting the growing demand for commercial electric vehicles (EVs). Envirotech plans to open its new corporate headquarters and manufacturing facility in the first quarter of 2025.
The new Houston headquarters and manufacturing facility will serve as a centralized hub for corporate leadership, manufacturing, fleet sales, engineering, and service operations, positioning Envirotech for continued growth and long-term success in the commercial EV market.

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