PUIG BRANDS S.A. U/ADS by PUIG BRANDS S A Stock (OTC: PUGBY)

Latest news for PUIG BRANDS S.A. U/ADS by PUIG BRANDS S A (OTC:PUGBY) Stock

PUIG BRANDS S.A. U/ADS by PUIG BRANDS S A

American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) is taking aim at &#8220;gate lice&#8221; &#8211; an industry term for passengers who crowd gates before their boarding group is called &#8211; with new technology being rolled out to <a href="https://www.benzinga.com/24/11/42076876/what-could-trumps-new-dot-pick-mean-for-evs-airlines-railroads">more than 100 U.S. airports during the holiday season</a>.
What Happened: The system, which automatically rejects boarding passes from passengers attempting to board ahead of their assigned group, comes as a welcome relief to airline staff who have long struggled with boarding zone violations.
&#8220;We&#8217;ve heard from our customers that the ability to board with their assigned group is important,&#8221; said Julie Rath, Senior Vice President of Airport Operations, Reservations and Service Recovery at American Airlines. &#8220;The initial positive response from customers and team members has exceeded our expectations.&#8221;
The technology triggers an audible alert if passengers try to board early, allowing gate agents to redirect them to wait for their proper boarding group. 
Following successful trials at airports in Albuquerque, Washington D.C., and Tucson, the expansion will include major facilities such as Austin-Bergstrom International Airport and Hartsfield-Jackson Atlanta International Airport.
See Also: <a href="https://www.benzinga.com/news/global/24/11/42130782/amazon-at-risk-of-major-fine-as-eu-investigates-alleged-preference-for-in-house-products-under-digital-markets-act-report">Amazon At Risk Of Major Fine As EU Investigates Alleged Preference For In-House Products Under Digital Markets Act: Report</a>
Why It Matters: Flight attendants and gate staff have long identified premature boarding attempts as a significant source of frustration, leading to the informal &#8220;gate lice&#8221; nickname for chronic offenders. The new system aims to eliminate such disruptions while preserving boarding privileges tied to &#8220;AAdvantage&#8221; status and fare class.
The software platform also provides gate agents with real-time data on boarding group sizes and incoming flight connections, consolidating multiple applications into a single interface. For passengers traveling with companions in earlier boarding groups, agents can override the system with a single click.
American Airlines, which operates thousands of daily flights to more than 350 destinations across 60+ countries, plans to extend the technology to its hub airports in the coming months.
Price Action: American Airlines&#8217; stock closed at $14.20 on Tuesday, down 1.80% for the day. In after-hours trading, the stock edged up 0.21%. Year-to-date, the stock has gained 5.65%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42130859/as-trump-backs-drill-baby-drill-his-doge-co-lead-elon-musk-believes-all-energy-generation-will-be-solar-heres-what-ubs-recommends-after-election-dip">As Trump Backs &#8216;Drill Baby, Drill,&#8217; His DOGE Co-Lead Elon Musk Believes &#8216;All Energy Generation Will Be Solar&#8217; — Here&#8217;s What UBS Recommends After Election Dip</a></li>
</ul>
Image Via Pixabay
Disclaimer:&nbsp;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>

Equities

News

Travel

Markets

American Airlines Targets 'Gate Lice' With New Boarding Tech At 100+ Airports This Holiday Season

Bath &amp; Body Works, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBWI#NYSE">BBWI</a>) will release earnings results for the third quarter, before the <a href="https://www.benzinga.com/quote/BBWI/earnings">opening bell on Monday, Nov. 25.</a>
Analysts expect Bath &amp; Body Works to report quarterly earnings at 47 cents per share. That's down from 48 cents per share a year ago. The Columbus, Ohio-based company projects to report quarterly revenue of $1.58 billion, compared to $1.56 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Nov. 8, Bath &amp; Body Works announced the declaration of its regular quarterly dividend of 20 cents per share payable on Dec. 6, to shareholders of record at the close of business on Nov. 22.
Bath &amp; Body Works shares gained 0.8% to close at $30.75 on Thursday.
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/BBWI/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Wells Fargo analyst Ike Boruchow maintained an Equal-Weight rating and cut the price target from $35 to $32 on Nov. 6. This analyst has an accuracy rate of 66%.</li>
<li>BMO Capital analyst Simon Siegel reiterated an Outperform rating and lowered the price target from $52 to $50 on Aug. 29. This analyst has an accuracy rate of 75%.</li>
<li>Goldman Sachs analyst Kate McShane maintained a Buy rating and cut the price target from $60 to $49 on Aug. 29. This analyst has an accuracy rate of 69%.</li>
<li>JP Morgan analyst Matthew Boss maintained a Neutral rating and slashed the price target from $42 to $39 on Aug. 29. This analyst has an accuracy rate of 67%.</li>
<li>Raymond James analyst Olivia Tong maintained a Neutral rating and cut the price target from $51 to $42 on Aug. 29. This analyst has an accuracy rate of 66%.</li>
</ul>
Considering buying BBWI stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="550" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22011415/image-238-1024x550.png" alt="" class="wp-image-660295" style="width:678px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22011415/image-238-1024x550.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22011415/image-238-300x161.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22011415/image-238-768x413.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22011415/image-238.png 1232w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read This Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42114009/wall-streets-most-accurate-analysts-weigh-in-on-3-health-care-stocks-with-over-5-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Weigh In On 3 Health Care Stocks With Over 5% Dividend Yields</a></li>
</ul>

Earnings

Price Target

Analyst Ratings

Trading Ideas

BBWI

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

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk on Thursday tempered down customer expectations of purchasing the company&#8217;s dedicated robotaxi offering &#8211; <a href="https://www.benzinga.com/topic/tesla-cybercab">the Cybercab</a> &#8211; and its humanoid robot called <a href="https://www.benzinga.com/topic/optimus">Optimus</a> for about $30,000 each, saying it would be possible only on the &#8220;long-term.&#8221;
What Happened: Production needs to exceed a million a year before the company can sell the two products for about $30,000, Musk said. 
&#8220;We need to reach >1M/year production volumes, but, long-term, yes,&#8221; he wrote in a post on X, without clarifying if he is hinting towards a collective production volume of a million or a million individually for both the products.
<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">We need to reach &gt;1M/year production volumes, but, long-term, yes <a href="https://t.co/WE39TnhTdf">https://t.co/WE39TnhTdf</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1859656599897506229?ref_src=twsrc%5Etfw">November 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Tall Promises: During Tesla's annual shareholder meeting in June, Musk said that there will be at least&nbsp;<a href="https://www.benzinga.com/news/24/06/39246781/elon-musk-thinks-humanoid-robots-will-one-day-exceed-human-population-from-nvidias-project-gr00t-to" target="_blank" rel="noreferrer noopener">one humanoid robot</a>&nbsp;for every person in the world in the future, implying a total humanoid robot population of at least 10 billion or more, of which the EV company will have a significant share.
Musk then said that he expects to be&nbsp;<a href="https://www.benzinga.com/news/24/03/37950895/elon-musk-says-cost-of-making-an-optimus-is-half-that-of-manufacturing-a-tesla-ev-despite-complexity" target="_blank" rel="noreferrer noopener">able to sell Optimus at a price point below $30,000</a> once it reaches high-volume production.
In July, the CEO said that the EV company would have "genuinely useful" humanoid robots in low production for use within its factories next year. The company will "hopefully" increase production for other customers in 2026, he said.
As for the Cybercab, Tesla unveiled the car with no pedals or steering wheel in October. The vehicle, CEO&nbsp;Elon Musk&nbsp;then said, will enter production "before 2027" and be priced below $30,000.
History Of Underdelivering: Musk is known for providing price points that the company cannot deliver. 
During the Cybertruck&#8217;s unveiling in November 2019, Musk presented tentative pricing for the stainless steel truck. The dual-motor all-wheel-drive (AWD) variant was projected to begin at $49,900 but is now priced at $79,990 in the U.S.
The top-tier tri-motor all-wheel drive was projected to start at $69,900 but is now priced<a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/12/36039263/did-tesla-overpromise-and-underdeliver-with-the-cybertruck"> at a whopping $99,990</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>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/11/42058338/byd-makes-a-million-nevs-in-less-than-2-months" target="_blank" rel="noreferrer noopener">BYD Makes A Million NEVs In Less Than 2 Months After Beating Tesla For The First Time Since 2022 In Quarterly Revenue</a></li>
</ul>
Photo courtesy: Tesla

Tech

TSLA

Tesla CEO Elon Musk Tries To Lower Expectations Of $30K Optimus Or Cybercab

Q3 2024 Operating Highlights:
<ul>
<li>Successfully completed funded research phase of the Indivior collaboration with both Indivior and Addex each selecting GABAB PAM drug candidate for further development in SUD and chronic cough, respectively</li>
<li>Completed Q3 2024 with cash and cash equivalents of CHF3.3 million</li>
</ul>

ADXN

Addex Therapeutics Reported Q3 EPS Of CHF(0.02) Up From CHF(0.03), Cash Balance Of CHF3.35M

Macro Economic Events

Econ #s

Economics

BBJP

WisdomTree Trust Japan Total Dividend Fund

Reported Earlier, au Jibun Bank Japan Services Purchasing Managers' Index Preliminary For November 50.2 Vs. 49.7 Prior

Reported Earlier, Japan National Core Consumer Price Index (YoY) For October 2.3% Vs. 2.2% Est.; 2.4% Prior

Renewable energy stocks present a buying opportunity despite recent electoral headwinds, according to UBS analysts, while Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk continues to <a href="https://www.benzinga.com/news/24/09/41059891/elon-musk-says-because-almost-none-of-you-do-your-math-sums-the-world-is-largely-not-using-the-big-f">advocate solar power&#8217;s future dominance</a>.
What Happened: UBS analysts on Thursday elevated U.S. and EU renewables to their top-ranking stock theme, citing an attractive entry point following steep post-election losses, <a href="https://markets.businessinsider.com/news/stocks/renewable-energy-stocks-election-trump-power-demand-data-centers-ubs-2024-11">reported</a> Business Insider. 
The announcement comes as clean energy shares have tumbled, with companies like Plug Power Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) and Enphase Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) down over 24% since President-elect Donald Trump&#8216;s victory.
&#8220;The environment of an unrelenting power demand shock puts just about every source of power generation in a solid position to capitalize,&#8221; UBS analysts wrote, pointing to surging power needs from artificial intelligence data centers and corporate sustainability goals.
The analysts remain optimistic despite Trump&#8217;s expected scaling back of President Joe Biden-era clean energy initiatives. They argue that companies could &#8220;grandfather&#8221; existing subsidies and that state-level emission goals will sustain industry growth. 
See Also: <a href="https://www.benzinga.com/news/global/24/11/42129914/jim-cramer-doubles-down-on-nvidia-demand-is-accelerating-as-ai-customers-have-no-choice-but-to-buy-its-chips">Jim Cramer Doubles Down On Nvidia: &#8216;Demand Is Accelerating&#8217; As AI Customers &#8216;Have No Choice&#8217; But To Buy Its Chips</a>
This view comes as Trump, <a href="https://www.benzinga.com/news/global/24/11/41927289/trump-appoints-elon-musk-and-vivek-ramaswamy-to-lead-doge-targeting-bureaucracy-and-65-trillion-federal-spending-we-will-not-go-gently">who has appointed Musk</a> and Vivek Ramaswamy to co-lead his new Department of Government Efficiency named after cryptocurrency Dogecoin, advocates for increased drilling.
Musk, despite his new role in the incoming Trump administration, has historically remained bullish on renewable energy. &#8220;Once you understand Kardashev Scale, it becomes utterly obvious that essentially all energy generation will be solar,&#8221; he posted on X. He noted that a single square mile receives <a href="https://www.benzinga.com/news/24/09/41059891/elon-musk-says-because-almost-none-of-you-do-your-math-sums-the-world-is-largely-not-using-the-big-f">approximately 2.5 gigawatts of solar energy</a>.
<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">Once you understand Kardashev Scale, it becomes utterly obvious that essentially all energy generation will be solar. Also, just do the math on solar on Earth and you soon figure out that a relatively small corner of Texas or New Mexico can easily serve all US electricity.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1839439841337225277?ref_src=twsrc%5Etfw">September 26, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
UBS recommends several stocks poised for gains, including NextEra Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>) and Generac Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNRC#NYSE">GNRC</a>) in the U.S., along with European players like Iberdrola (OTC:<a class="ticker" href="https://www.benzinga.com/stock/IBDRY#OTC">IBDRY</a>), Siemens Energy (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SMEGF#OTC">SMEGF</a>), and Orsted (OTC:<a class="ticker" href="https://www.benzinga.com/stock/DOGEF#OTC">DOGEF</a>). The analysts cite historical precedent, noting that solar installations grew 50% during Trump&#8217;s previous term.
The renewable sector&#8217;s growth potential is further supported by expanding applications, including Musk&#8217;s recent suggestion that SpaceX&#8217;s Starlink satellite network could integrate <a href="https://www.benzinga.com/news/24/10/41648885/spacex-ceo-elon-musk-agrees-that-starlink-could-combine-hardware-with-solar-panels-and-batteries">solar panels and batteries into its hardware offering</a>.
While Trump&#8217;s &#8220;drill baby, drill&#8221; <a href="https://www.benzinga.com/news/24/09/40703958/trumps-drill-baby-drill-pledge-may-not-deliver-promised-energy-price-cuts-experts-warn">stance has rattled markets</a>, UBS maintains that investor concerns about the sector&#8217;s future may be &#8220;overdone,&#8221; as corporate and state-level commitments to clean energy persist alongside growing power demands from emerging technologies.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42127938/bitcoin-analyst-warns-of-4-6-flash-crashes-before-year-end-as-it-inches-closer-to-100k-thats-the-moment-altcoins-shoot-off">Bitcoin Analyst Warns Of &#8216;4-6 Flash Crashes&#8217; Before Year-End As It Inches Closer To $100K: That&#8217;s The Moment Altcoins &#8216;Shoot Off&#8217;</a></li>
</ul>
Photo via Unsplash
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Analyst Color

DOGEF

ENPH

GNRC

IBDRY

PLUG

SMEGF

As Trump Backs 'Drill Baby, Drill,' His DOGE Co-Lead Elon Musk Believes 'All Energy Generation Will Be Solar' — Here's What UBS Recommends After Election Dip

The EU is reportedly set to investigate Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) in 2025 for favoring its in-house branded products.
What Happened: The EU is preparing a case against Amazon under its Digital Markets Act or DMA, reported Reuters, citing people with direct knowledge of the matter.
The probe will focus on whether Amazon&#8217;s marketplace gives an unfair advantage to its own products over those sold by third-party vendors. If Amazon is found to be in violation of the DMA, it could be hit with a fine amounting to 10% of its global annual turnover.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42101690/amazon-remains-best-idea-in-e-commerce-this-holiday-season-jpmorgan-analyst-says">Amazon Remains &#8216;Best Idea&#8217; In E-Commerce This Holiday Season, JPMorgan Analyst Says</a>
The decision to launch the investigation will be made by the incoming EU antitrust chief, Teresa Ribera, in the upcoming months.
Amazon did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga's</a> request for comments.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: The DMA, which was implemented last year, prohibits Amazon and six other big tech firms from favoring their products and services on their platforms.
In January, Amazon&#8217;s <a href="https://www.benzinga.com/government/24/01/36688100/amazons-irobot-deal-faces-likely-rejection-from-eu-competition-watchdog-report">$1.7-billion acquisition</a> of iRobot Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRBT#NASDAQ">IRBT</a>), was abandoned due to opposition from the EU&#8217;s competition watchdog.
Earlier this week, Amazon and Elon Musk-led SpaceX's efforts to block cases brought by the National Labor Relations Board or NLRB also <a href="https://www.benzinga.com/24/11/42054405/amazon-and-spacexs-efforts-to-block-nlrb-cases-in-jeopardy-as-appeals-court-raises-key-legal-concerns">faced obstacles</a>.
Amazon is contesting a case involving its first union at a warehouse in New York City.
Last month, Amazon reported a <a href="https://www.benzinga.com/news/earnings/24/10/41664778/amazon-q3-earnings-highlights-revenue-beat-eps-beat-q4-guidance-new-kindles-significantly-outperfor">successful third quarter</a> in 2024, with net sales of $158.9 billion, an 11% increase year-over-year, beating the Street consensus estimate of $157.2 billion.
Price Action: Amazon shares closed Thursday&#8217;s session down 2.22% at $198.38. In after-hours trading, the stock dropped further, reaching $198.08 at the time of writing, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41692259/amazon-analysts-see-growth-ahead-with-aws-in-early-innings-of-a-big-ai-cycle-advert">Amazon Analysts See Growth Ahead With AWS In &#8216;Early Innings Of A Big AI Cycle,&#8217; Advertising Segment Fast-Growing &#8216;Hidden Asset&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

Legal

Global

Media

AMZN

IRBT

Amazon At Risk Of Major Fine As EU Investigates Alleged Preference For In-House Products Under Digital Markets Act: Report

Bitcoin&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) surge toward $100,000 could face a significant pullback due to excessive market leverage, Galaxy Digital Holdings Ltd. CEO Mike Novogratz warned in a recent interview, even as the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42127938/bitcoin-analyst-warns-of-4-6-flash-crashes-before-year-end-as-it-inches-closer-to-100k-thats-the-moment-altcoins-shoot-off">cryptocurrency continues setting new records</a>.
What Happened: The billionaire investor highlighted concerning levels of leverage in the crypto ecosystem. &#8220;There&#8217;s a ton of leverage in the system right now,&#8221; Novogratz <a href="https://www.youtube.com/watch?v=QPiWKHHiXyY">said</a> on CNBC. &#8220;The crypto community is levered to the gills, and so there will be a correction.&#8221;
While Novogratz maintains that Bitcoin reaching $100,000 is &#8220;inevitable&#8221; &#8211; with prices recently touching $99,000 &#8211; he projects a potential retreat to $80,000 during a correction phase. This would represent a 20% decline from the six-digit milestone.
The warning comes amid broader market developments, including MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), completing a $3 billion <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42126020/whats-going-on-with-microstrategy-stock-after-the-bell">convertible note offering to acquire additional Bitcoin</a>. The company currently holds 331,200 Bitcoin which it purchased at an average price of $49,874 per coin.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42125642/bitcoin-ethereum-dogecoin-prepping-for-an-early-thanksgiving-btc-is-currently-less-than-one-eth-away-from-100000-says-trader">Bitcoin, Ethereum, Dogecoin Prep For Early Thanksgiving: &#8216;BTC Is Currently (Less Than) One ETH Away From $100,000,&#8217; Says Trader</a>
Supporting Novogratz&#8217;s cautionary stance, cryptocurrency analyst Michaël van de Poppe forecasts &#8220;4-6 flash crashes&#8221; before year-end, with Bitcoin potentially <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42127938/bitcoin-analyst-warns-of-4-6-flash-crashes-before-year-end-as-it-inches-closer-to-100k-thats-the-moment-altcoins-shoot-off">dropping 5-10% in single-day moves</a>. Alternative cryptocurrencies could see even steeper declines of 20-30%.
Why It Matters: Despite these concerns, Novogratz expressed optimism about crypto&#8217;s regulatory outlook under President-elect Donald Trump&#8216;s administration. &#8220;The entire cabinet almost owns bitcoin, and are proponents of digital assets,&#8221; he noted, suggesting a &#8220;paradigm shift&#8221; in cryptocurrency regulation.
The current crypto market surge has pushed total market capitalization to $3.3 trillion, with Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) trading at $3,359 and Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) reaching $262. Bitcoin currently trades at $98,563, maintaining its upward trajectory despite warnings of potential corrections.
&#8220;Normally you hit 100, you bounce off a bit,&#8221; Novogratz concluded while acknowledging the possibility of higher prices due to limited supply and strong demand, particularly from Middle Eastern investors and public equity markets.
Price Action: Bitcoin is currently trading at $99,138, up nearly 2.4% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42127938/bitcoin-analyst-warns-of-4-6-flash-crashes-before-year-end-as-it-inches-closer-to-100k-thats-the-moment-altcoins-shoot-off">Bitcoin Analyst Warns Of &#8216;4-6 Flash Crashes&#8217; Before Year-End As It Inches Closer To $100K: That&#8217;s The Moment Altcoins &#8216;Shoot Off&#8217;</a></li>
</ul>
Image Via Pixabay
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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

Cryptocurrency

$BTC

$ETH

$SOL

MSTR

Bitcoin's Path To $100K 'Inevitable' But Crypto Community Is 'Leveraged To The Gills,' Warns Galaxy's Mike Novogratz, Predicts Correction To $80K Ahead

Silicon Valley billionaire and venture capitalist <a href="https://www.benzinga.com/news/24/09/41086806/elon-musk-mocks-vinod-khosla-after-openai-investor-mixes-up-argentinas-poverty-and-unemployment-rate">Vinod Khosla</a> has issued a bold prediction: artificial intelligence (AI) will replace most human jobs over the next 25 years.&nbsp;
In a recent blog post, Khosla wrote about the implications of AI and warned that "80% of 80% of all jobs, maybe more, can be done by AI, be it primary care doctors, psychiatrists, sales people, oncologists, farmworkers or assembly line workers, structural engineers, chip designers, you name it."
Don't Miss:
<ul>
<li>Many are using this retirement income calculator to check if they&#8217;re on pace — <a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv" target="_blank" rel="noreferrer noopener">here&#8217;s a breakdown on how on what&#8217;s behind this formula.</a></li>
<li>Can you guess how many retire with a $5,000,000 nest egg? &#8211;<a href="https://www.benzinga.com/money/retire-5mil-nest-egg"> How does it compare to the average?</a></li>
<li> The global games market is projected to generate $272B by the end of the year —<a href="https://www.benzinga.com/money/gameflip"> for $0.55/share, this VC-backed startup with a 7M+ userbase gives investors easy access to this asset market.</a></li>
</ul>
Khosla's experience gives weight to his predictions. He cofounded Sun Microsystems and has invested heavily in tech giants like Amazon, Google and <a href="https://www.benzinga.com/news/24/09/41078513/openai-plans-to-more-than-double-chatgpt-price-over-next-5-years-report">OpenAI</a>. He has also spent over four decades studying disruptive technology and believes that AI will do most jobs "better, faster and cheaper" than humans, drastically changing the labor market.&nbsp;
<h2 class="wp-block-heading">A World Without Jobs</h2>
According to his blog, Khosla says that AI will create a world where human labor isn't necessary for most tasks. It can assist with and perform tasks like assembly line work, investment banking and even medical diagnosis.&nbsp;
The warnings Khosla discusses surrounding AI aren't meant to spread fear but to advocate for proactive solutions as our world heads in this direction. He talks about the risk of an "economic dystopia," where wealth becomes increasingly concentrated at the top – more so than it is now – and both intellectual and physical labor lose their value.&nbsp;
Khosla states that if governments don't proactively identify this problem and devise solutions for AI taking over jobs, millions could face <a href="https://www.benzinga.com/markets/equities/24/09/40760261/biden-administration-says-unemployment-is-low-but-do-americans-see-it-that-way">unemployment</a>.&nbsp;
Trending: This Jeff Bezos-backed startup will allow you to <a href="https://www.benzinga.com/money/bezos-landlord-100-dollars">become a landlord in just 10 minutes, with minimum investments as low as $100 for properties like the Byer House from Stranger Things.</a>
<h2 class="wp-block-heading">The Case for Universal Basic Income (UBI)</h2>
According to Khosla, universal basic income (UBI) is one solution to the looming AI job crisis. UBI is a government program that regularly provides every adult citizen with a set amount of money to help alleviate poverty.&nbsp;
Khosla believes that UBI will become essential as AI replaces jobs. It can provide a safety net for those whose jobs become automated. "As AI reduces the need for human labor, UBI could become crucial, with governments playing a key role in regulating AI's impact and ensuring equitable wealth distribution," he wrote.
The concept of UBI isn't new, but it has gained renewed attention as automation accelerates. Khosla joins a growing list of Silicon Valley figures, including Sam Altman and Mark Zuckerberg, who advocate for UBI to cushion the economic disruption caused by AI.
Trending: ‘Scrolling to UBI': Deloitte's #1 fastest-growing software company allows users to earn money on their phones –<a href="https://www.benzinga.com/money/mode-mobile-2"> invest today with $1,000 for just $0.25/share</a>
<h2 class="wp-block-heading">A Shorter Workweek and More Meaningful Life</h2>
While Khosla spoke about AI&#8217;s challenges, he also presented several upsides, one of which is a shorter workweek. He envisions a world where AI handles mundane, labor-intensive jobs, freeing people up to take on more fulfilling activities. He believes that with the right policies, AI could bring about a three-day workweek, where people can focus more on hobbies, spend time with loved ones and enjoy life more.&nbsp;
"Life won't become less meaningful once we eradicate undesirable, toil-intensive jobs," he wrote. "Quite the opposite – life will become more meaningful as the need to work 40 hours per week could disappear within a few decades for those countries that adapt to these technologies."
Trending: Invest in $20+ trillion home equity market today across cities like Austin, Miami, and Los Angeles through a <a href="https://www.benzinga.com/money/nada-cityfunds">unique 5-year term fund targeting a 14-20% IRR with minimums as low as $2,500</a>
<h2 class="wp-block-heading">Balancing AI Innovation and Regulation</h2>
According to <a href="https://www.cnn.com/2024/11/19/tech/ai-risks-trump-elon-musk-intl/index.html">CNN article</a>, Elon Musk has consistently voiced concerns that AI could pose an existential threat to humanity, despite his company, xAI, developing a generative AI chatbot. Musk supported a proposed California bill designed to address catastrophic risks of AI systems becoming uncontrollable. However, Governor Gavin Newsom vetoed the bill, citing potential harm to innovation. Musk's worries align with suggestions that AI regulation might feature in future executive orders.
Within Trump's circle, opinions on AI regulation vary. JD Vance, the incoming vice-president, warned that excessive regulation could solidify dominance for established tech giants, stifling new innovators crucial for American growth. Interestingly, Musk's Tesla, a major tech player, is heavily invested in AI. The company highlighted its commitment to AI advancements in its latest earnings report, emphasizing its role in shaping the future of innovation.
Musk's dual stance highlights the tension between advocating for AI safety and fostering AI-driven progress.
This story was previously reported and have been updated to reflect post-election players in AI.
Read Next:
<ul>
<li>If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends<a href="https://www.benzinga.com/money/arrived-private-credit-fund"> would you invest in it</a>?</li>
<li>How do billionaires pay less in income tax than you?<a href="https://www.benzinga.com/money/tax-deferring-adv"> Tax deferring is their number one strategy</a>.</li>
</ul>

Personal Finance

AI Will Do Most Jobs 'Better, Faster, Cheaper': Silicon Valley Billionaire Vinod Khosla Calls For Universal Basic Income

ChatGPT-parent OpenAI is reportedly considering developing a web browser to challenge Alphabet Inc. subsidiary (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google&#8217;s dominance. This follows the U.S. Department of Justice's <a href="https://www.benzinga.com/government/regulations/24/11/42119020/alphabet-bleeds-over-120-billion-in-market-value-eyes-worst-day-in-10-months-after-doj-demands-google-chrome-sale">push for Google to divest Chrome browser</a>.
What Happened: OpenAI has discussed its plans with app and website developers, including notable names like Conde Nast, Redfin, Eventbrite, and Priceline, <a href="https://www.theinformation.com/articles/openai-considers-taking-on-google-with-browser">reported</a> The Information, citing people familiar with the development.
The idea is to develop a web browser that would integrate with its chatbot. The AI startup has also discussed or secured deals to power search features including travel, food, retail websites, and real estate.
See Also:&nbsp;<a href="https://www.benzinga.com/tech/24/11/42123646/google-anthropic-deal-in-jeopardy-as-us-justice-department-looks-to-snap-online-search-monopoly">Google, Anthropic Deal In Jeopardy As US Justice Department Looks To Snap Online Search Monopoly</a>
OpenAI has also been in talks to provide AI features for Samsung Electronics Co.'s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) devices, a <a href="https://www.benzinga.com/markets/equities/24/07/39711663/samsung-unveils-phones-with-gemini-ai-integration-but-hikes-prices-will-customers-budge">major partner of Google</a>, the report noted.
The ChatGPT-maker already has a partnership with Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), according to which it powers the &#8220;Apple Intelligence&#8221; features on the company's new devices.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Sam Altman-led OpenAI has already <a href="https://www.benzinga.com/news/24/10/41663190/openai-rolls-out-chatgpt-search-google-shares-slide">ventured into the search</a> space with its SearchGPT product.
Meanwhile, Google's hold on the search market has come under scrutiny. On Thursday, DOJ argued that Google's control of Chrome is a form of antitrust monopoly.
Alphabet's shares fell more than 6% in Thursday morning trading in New York, witnessing its largest drop since January 2024.
This decline erased over $120 billion in market value, pushing Alphabet&#8217;s valuation below the $2 trillion mark.
At the time of writing, Alphabet's market capitalization was at $2.063 trillion, making it the fifth most valuable company in the world now following Nvidia Corp., Apple, Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and Amazon.com Inc.
Earlier this year an internal email from Microsoft surfaced, indicating that the company&#8217;s investment in OpenAI was <a href="https://www.benzinga.com/news/24/05/38582364/microsofts-fear-of-googles-ai-dominance-led-to-openai-investment-internal-email-reveals-were-multipl">motivated by fears</a> of lagging behind Alphabet&#8217;s AI advancements.
Since 2019, Microsoft has invested roughly $14 billion in ChatGPT-parent.
Price Action: On Thursday, Alphabet's Class A shares dropped 4.74%, ending at $167.63, while Class C shares decreased 4.56%, closing at $169.24. After hours, Class A shares fell another 0.42% to $166.93, and Class C shares slipped 0.38% to $168.59, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">data from Benzinga Pro</a>.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/tech/24/11/42105079/googles-unlawful-behavior-stifles-market-entry-for-rivals-doj-says-alphabet-must-sell-chrome-to-end-search-monopoly">Google&#8217;s &#8216;Unlawful Behavior&#8217; Stifles Market Entry For Rivals: DOJ Says Alphabet Must Sell Chrome To End Search Monopoly</a></li>
</ul>
Photo courtesy: Shutterstock

AAPL

GOOG

GOOGL

MSFT

SSNLF

ChatGPT-Parent OpenAI Considers Building Its Own Web Browser To Challenge Google's Search Monopoly, Following DOJ Push To Break Up Chrome Dominance

BDSA&#8216;s October 2024 data highlights Maryland as the fastest-growing state for cannabis sales, with a year-to-date (YTD) increase of 57.8%, totaling $942.2 million.&nbsp;
<a href="https://www.benzinga.com/topic/maryland-cannabis">Maryland&#8217;s impressive performance</a> within BDSA&#8217;s tracked markets cements its place as a key emerging state in the cannabis industry.
<a href="https://www.benzinga.com/topic/ohio-cannabis">Ohio </a>followed with a 30.9% growth, reaching $522.6 million, while New Jersey achieved a 24.6% increase, amounting to $805.7 million in YTD sales.
Green Thumb Industries (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTC">GTBIF</a>), Curaleaf Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>), Trulieve Cannabis Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>), Cresco Labs (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTC">CRLBF</a>), and Verano Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VRNOF#OTC">VRNOF</a>) are publicly traded multi-state operators with active operations in both Ohio and Maryland, supporting the cannabis industry&#8217;s growth in these states.
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can&#8217;t afford to miss out if you're serious about the business.</li>
</ul>
<h3 class="wp-block-heading">Struggling Markets</h3>
States with established cannabis markets are grappling with significant downturns. Arizona saw a 12.9% decrease in YTD sales, generating $989.8 million, while <a href="https://www.benzinga.com/topic/colorado-cannabis">Colorado</a>, another mature market, reported a 9.5% drop, totaling $1.18 billion.&nbsp;
Even <a href="https://www.benzinga.com/topic/california-cannabis">California</a>, the leader in total sales with $4.16 billion YTD, experienced a 3.6% decline, underscoring challenges faced by long-established markets.
Read Also:<a href="https://www.benzinga.com/general/health-care/24/11/41959233/yougov-poll-reveals-what-women-want-with-weed-relax-mindfulness-and-great-deals"> YouGov Poll Reveals What Women Want With Weed: Relax, Mindfulness And Great Deals</a>
<h3 class="wp-block-heading">Monthly Shifts</h3>
While year-to-date trends provide long-term insights, monthly data reveals shorter-term momentum shifts. <a href="https://bdsa.com/">According to BDSA</a>, Missouri leads recent growth with a 4.9% month-over-month (MoM) increase, totaling $123.3 million.&nbsp;
Arizona, despite its YTD struggles, achieved a 4.4% MoM rise to $93.1 million. Conversely, <a href="https://www.benzinga.com/topic/michigan-cannabis">Michigan</a> recorded the steepest monthly decline, dropping 7.7% to $246.3 million, followed by New York with a 7.3% decrease, ending at $11.1 million.
Read Next:<a href="https://www.benzinga.com/general/market-summary/24/11/42086135/pre-rolls-the-avocado-toast-of-cannabis-why-millennials-are-spending-100m-a-month"> Pre-Rolls, The Avocado Toast Of Cannabis: Why Millennials Are Spending +$100M A Month</a>

Cannabis

Market Summary

Guidance

Emerging Markets

Entrepreneurship

Retail Sales

Exclusives

CRLBF

CURALEAF HLDGS INC by Curaleaf Hldgs Inc.

CURLF

GTBIF

TCNNF

VRNOF

Best And Worst Performing States For Cannabis Sales In 2024: YTD Winners & Losers

President-elect Donald Trump picked Pam Bondi, Florida&#8217;s former attorney general, to serve as U.S. attorney general in his second administration after his initial pick, Matt Gaetz, withdrew from <a href="https://www.benzinga.com/news/legal/24/11/42078192/trumps-attorney-general-pick-matt-gaetz-resigned-from-congress-ethics-committee-to-decide-if-report-will-be-released">consideration amid controversy</a>.
What Happened: Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/113523536267976149">announced</a> the nomination Thursday on Truth Social, his social media platform, declaring his intent to reshape the Department of Justice. 
&#8220;For too long, the partisan Department of Justice has been weaponized against me and other Republicans &#8211; Not anymore,&#8221; Trump wrote. &#8220;Pam will refocus the DOJ to its intended purpose of fighting Crime, and Making America Safe Again,&#8221; 
Bondi, who served as Florida&#8217;s top prosecutor from 2011 to 2019, previously <a href="https://www.benzinga.com/general/entertainment/23/06/32686203/desantis-vs-disney-saga-trump-appointee-replaces-judge-who-recused-himself-after-accusing-g">demonstrated loyalty to Trump</a> by joining his defense team during his first impeachment trial in 2020. During that trial, Trump faced charges of attempting to pressure Ukraine to investigate the Biden family.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42127938/bitcoin-analyst-warns-of-4-6-flash-crashes-before-year-end-as-it-inches-closer-to-100k-thats-the-moment-altcoins-shoot-off">Bitcoin Analyst Warns Of &#8216;4-6 Flash Crashes&#8217; Before Year-End As It Inches Closer To $100K</a>
Why It Metters: The nomination comes hours after Gaetz, who had been nominated on Nov 13, withdrew his name from consideration. The former congressman&#8217;s nomination faced significant hurdles due to past controversies, including a Justice Department sex-trafficking investigation <a href="https://www.benzinga.com/24/11/42119848/matt-gaetz-withdraws-name-from-ag-nomination-calls-sex-trafficking-controversy-a-distraction">that concluded without charges</a>. 
The House Ethics Committee, which launched its own probe in 2021, reached a deadlock Wednesday on whether to release its investigative report.
Gaetz, who has consistently denied any wrongdoing, had <a href="https://www.benzinga.com/news/legal/24/11/42078192/trumps-attorney-general-pick-matt-gaetz-resigned-from-congress-ethics-committee-to-decide-if-report-will-be-released">submitted his resignation</a> from Congress the same day as his initial nomination.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/global/24/11/42126727/nate-silver-says-biden-should-resign-have-harris-take-over-presidency-its-a-very-difficult-job">Nate Silver Says Biden Should Resign, Have Harris Take Over Presidency: &#8216;It&#8217;s A Very Difficult Job&#8217;</a></li>
</ul>
Image via Pixabay
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Politics

Trump Picks Former Florida AG Pam Bondi For Justice Department After Matt Gaetz Withdraws

Green Wednesday,to be celebrated next week on November 27, has become the cannabis industry's answer to Black Friday. This annual shopping event, known for its surge in sales, offers a critical opportunity for retailers to optimize their shelves based on insights into consumer behavior. According to New Frontier Data, understanding cannabis user archetypes can help businesses target key segments effectively and maximize revenue during this peak sales period.
One prominent consumer group, Savvy Connoisseurs, represents 13% of U.S. cannabis users and stands out as the most frequent and high-spending segment. These consumers, 75% of whom are under 45, use cannabis multiple times daily (54%) and purchase weekly (65%). Their typical spending exceeds $50 per visit (71%), making them a prime audience for Green Wednesday promotions. With diverse preferences across smokable and non-smokable products, this group's demand for flowers, edibles, and vapes underscores the importance of offering variety and discounts to drive engagement.
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can&#8217;t afford to miss out if you're serious about the business.</li>
</ul>
<h3 class="wp-block-heading">Relaxation Drives Recreational Lifestylers</h3>
Contemporary Lifestylers, who make up 16% of <a href="https://www.benzinga.com/topic/cannabis-marketing">cannabis consumers</a>, are another key segment on Green Wednesday. Consuming primarily to relax and unwind, they are frequent buyers, with over half purchasing weekly. <a href="https://newfrontierdata.com/equio-features/">According to New Frontier</a>, edibles and vape pens are popular among this group, alongside traditional smoking methods. They tend to stick to legal markets, sourcing primarily from dispensaries.
<h3 class="wp-block-heading">Medical And Dual-Use Consumers Eye Holiday Deals</h3>
Medical Lifestylers and Modern Medicinals use cannabis primarily for health reasons, including pain management and sleep improvement. Together, they account for nearly a quarter of <a href="https://www.benzinga.com/topic/cannabis-branding">consumers</a>. 
These segments often prefer non-smokable forms like<a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/05/32279262/exclusive-are-topicals-an-untapped-market-for-cpg-brands-in-the-cannabis-industry"> tinctures and topicals</a>, with many making weekly purchases.
Green Wednesday promotions can strategically target Savvy Connoisseurs and recreational users with variety and discounts while appealing to medical users through wellness-focused offerings. 
With 37% of U.S. adults using cannabis at least annually, this shopping event continues to expand its reach and impact.
Read Next:<a href="https://www.benzinga.com/general/health-care/24/11/41959233/yougov-poll-reveals-what-women-want-with-weed-relax-mindfulness-and-great-deals"> YouGov Poll Reveals What Women Want With Weed: Relax, Mindfulness And Great Deals</a>

Green Wednesday's Biggest Weed Buyers: The Surprising Archetypes Driving Sales

NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) continues to dominate the artificial intelligence landscape, with CNBC&#8217;s Jim Cramer and Wall Street analysts reinforcing their bullish outlook following <a href="https://www.benzinga.com/news/earnings/24/11/42099904/nvidia-beats-q3-revenue-eps-estimates-supply-constraints-ding-stock-huang-says-age-of-ai-is-in-full-steam">the company&#8217;s stellar third-quarter earnings report</a>.
What Happened: &#8220;The demand is accelerating because the payoff is so great,&#8221; Cramer <a href="https://www.cnbc.com/2024/11/21/demand-for-nvidia-products-isnt-letting-up-jim-cramer-says.html">said</a> on Thursday, citing CEO Jensen Huang&#8216;s assertion that customers earn five dollars for every dollar invested in Nvidia chips. 
This compelling return on investment, Cramer argues, makes Nvidia&#8217;s products essential for major tech companies. &#8220;That means they have no choice but to buy Nvidia's chips,&#8221; he said. 
The sentiment is echoed by Wedbush&#8216;s Dan Ives, who called the results a &#8220;jaw-dropper.&#8221; Ives predicts the Nasdaq could surge to 25,000, <a href="https://www.benzinga.com/markets/equities/24/11/42102642/nvidia-delivered-jaw-dropping-q3-earnings-says-dan-ives-this-is-the-fourth-revolution-playing-out-in-front-of-our-eyes">driven by an extraordinary multiplier effect</a> where &#8220;one dollar spent on GPU chips translates to an $8 to $10 impact across the tech sector.&#8221;
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42127938/bitcoin-analyst-warns-of-4-6-flash-crashes-before-year-end-as-it-inches-closer-to-100k-thats-the-moment-altcoins-shoot-off">Bitcoin Analyst Warns Of &#8216;4-6 Flash Crashes&#8217; Before Year-End As It Inches Closer To $100K</a>
Why It Matters: Nvidia reported third-quarter revenue of $35.1 billion, up 94% year-over-year, with Data Center revenue alone reaching $30.8 billion. The company&#8217;s CFO Colette Kress projects gross margins will temporarily dip to the low 70% range as the <a href="https://www.benzinga.com/24/11/42102796/nvidia-projects-gross-margin-recovery-as-blackwell-systems-drive-unprecedented-ai-demand">new Blackwell systems ramp up production</a>.
Rosenblatt analyst Hans Mosesmann maintained a Buy rating while <a href="https://www.benzinga.com/24/11/42121003/nvidia-to-rally-more-than-50-here-are-10-top-analyst-forecasts-for-thursday">raising the price target</a> from $200 to $220. 
This optimism is reflected in a <a href="https://www.benzinga.com/tech/24/11/42121665/could-another-magnificent-7-stock-beat-nvidia-in-2025-poll-says-not-likely-27-pick-this-potential-winner">recent Benzinga poll</a>, where 48% of respondents believed Nvidia would continue to dominate the &#8220;Magnificent Seven&#8221; stocks in 2025, followed by Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) at 27%.
Huang describes this period as &#8220;the beginnings of two fundamental shifts in computing,&#8221; highlighting the transition to <a href="https://www.benzinga.com/24/11/42102796/nvidia-projects-gross-margin-recovery-as-blackwell-systems-drive-unprecedented-ai-demand">machine learning and AI&#8217;s emergence</a> as an industrial capability. The company projects fourth-quarter revenue of $37.5 billion, with Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) already planning AI computing clusters scaling to over 131,000 Blackwell GPUs.
Price Action: Nvidia&#8217;s stock has surged more than 196% year-to-date, significantly outperforming the broader market and its &#8220;Magnificent Seven&#8221; peers, including Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) at 23.3% and Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) at 11.4%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42124676/november-small-cap-surge-could-carry-into-decembers-santa-rally-historical-trends-suggest">November Small-Cap Surge Could Carry Into December&#8217;s Santa Rally, Historical Trends Suggest</a></li>
</ul>
Image Via Flickr
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

NVDA

ORCL

Jim Cramer Doubles Down On Nvidia: 'Demand Is Accelerating' As AI Customers 'Have No Choice' But To Buy Its Chips

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly developing a conversational AI-powered Siri to compete with OpenAI's ChatGPT and Alphabet Inc. subsidiary (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google&#8217;s Gemini Live voice assistant.
What Happened: The new version of Siri will leverage large language models to allow back-and-forth interactions with quicker and more advanced responses, <a href="https://www.bloomberg.com/news/articles/2024-11-21/apple-readies-more-conversational-llm-siri-in-bid-to-rival-openai-s-chatgpt">reported</a> Bloomberg, citing people with knowledge of the matter.
Internally called "LLM Siri," the upgraded voice assistant is being tested as a separate app and will eventually replace the current interface on iPhones, iPads, and Macs.
See Also:&nbsp;<a href="https://www.benzinga.com/tech/24/11/41932289/ai-capabilities-plateauing-say-andreessen-horowitz-founders-echoing-concerns-of-openai-co-founder-ilya-sutskever?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">AI Capabilities Plateauing, Say Andreessen Horowitz Founders, Echoing Concerns Of OpenAI Co-Founder Ilya Sutskever</a>
Siri has long <a href="https://www.benzinga.com/news/23/04/32074627/alexa-vs-siri-amazon-and-apples-battle-to-make-worlds-best-personal-assistant-just-got-more-intense">lagged behind rivals</a> like Amazon.com, Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Alexa, and Google Assistant in conversational capabilities. Now, Apple intends to close that gap using the power of AI.
The new assistant will be part of <a href="https://www.benzinga.com/news/24/07/39665558/apples-most-awaited-siri-ai-upgrade-will-not-come-until-2025-report">Apple Intelligence</a> and focus on user privacy while enabling ChatGPT-like features, including text writing and summarization.
Apple also plans to continue offering third-party chatbot integrations like ChatGPT and Gemini alongside LLM Siri.
The overhaul is expected to be announced alongside iOS 19 and macOS 16 in 2025, with a consumer rollout slated for spring 2026, the report noted.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Last month, Bloomberg columnist Mark Gurman <a href="https://www.bloomberg.com/news/newsletters/2024-10-20/apple-s-latest-ipad-mini-highlights-ai-advantage-sonos-considers-new-headphones-m2hkz4mn?srnd=undefined">reported</a> that Apple research showed that ChatGPT outperformed Siri by at least 25% in accuracy.
The standout feature between the two lies in ChatGPT's conversational design.
"Some at Apple believe that its generative AI technology — at least, so far — is more than two years behind the industry leaders," Gurman stated at the time.
However, the iPhone-maker is gradually catching up. Earlier, Apple CEO Tim Cook had said that the launch of Apple Intelligence was among the <a href="https://www.benzinga.com/success-stories/24/10/41441641/apple-ceo-tim-cook-says-apple-intelligence-will-make-products-profoundly-different-new-ai-technol">most significant technology</a> releases in Apple&#8217;s history.
In October, Apple also reported fiscal <a href="https://www.benzinga.com/news/earnings/24/10/41666494/apple-q4-earnings-revenue-beat-eps-beat-installed-base-hits-new-highs-iphone-sales-rise-as-apple-in">fourth-quarter revenue</a> of $94.9 billion, surpassing analysts&#8217; projections of $94.56 billion.
During the earnings call, Cook said that the rapid adoption of iOS 18.1 compared to iOS 17.1 is a definite sign of users' <a href="https://www.benzinga.com/news/24/10/41674713/apple-users-hungry-for-ai-tim-cook-says-ios-18-1-has-twice-the-adoption-rate-of-17-1-what-it-means-f">interest in Apple Intelligence</a>.
Price Action: At the time of writing, Apple shares rose 0.018% to $228.56 in after-hours trading, after a 0.21% drop to $228.52 in Thursday&#8217;s regular session, according to<a href="https://benzinga.grsm.io/lxquj26b2sag"> Benzinga Pro data</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/11/42071334/apples-100-million-gamble-tech-giant-moves-to-lift-indonesias-iphone-ban">Apple&#8217;s $100 Million Gamble, Tech Giant Moves to Lift Indonesia&#8217;s iPhone Ban</a></li>
</ul>
Photo courtesy: Unsplash

Apple Prepares To Take On OpenAI's ChatGPT, Google Gemini 'Live' With LLM Siri In 2025: Report

Leading cryptocurrency analyst Michaël van de Poppe predicts several significant market corrections, even as Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42125642/bitcoin-ethereum-dogecoin-prepping-for-an-early-thanksgiving-btc-is-currently-less-than-one-eth-away-from-100000-says-trader">trades near record highs at $98,192</a>.
What Happened: &#8220;Bitcoin is going to take liquidity on lower levels,&#8221; van de Poppe warned on X, forecasting &#8220;4-6 flash crashes&#8221; before year-end. These corrections could see Bitcoin drop 5-10% in a single day, while alternative cryptocurrencies might experience even steeper declines of 20-30%.
However, van de Poppe suggests these dramatic drops could present strategic entry points for investors. &#8220;After such a flash crash on Bitcoin, that&#8217;s the moment where Bitcoin consolidates, and altcoins shoot off,&#8221; he explained, describing the market&#8217;s rotation pattern.
Despite Bitcoin&#8217;s approach toward $100,000, market sentiment remains notably subdued compared to previous bull runs, suggesting potential volatility ahead as van de Poppe predicts. &#8220;Timing those flash crashes is hard, but they do happen,&#8221; he cautioned, advising investors to prepare for these market movements.
<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">FLASH CRASH! What do you mean? Well, <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is going to take liquidity on lower levels, it will. There will be crashes of 5-10% on a day.<a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> might fall 20-30%, which are the days you should activate your entries. However, after such a flash crash on Bitcoin, that&#39;s… <a href="https://t.co/DTbIcs4Kob">pic.twitter.com/DTbIcs4Kob</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1859650485306916953?ref_src=twsrc%5Etfw">November 21, 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/24/11/42125642/bitcoin-ethereum-dogecoin-prepping-for-an-early-thanksgiving-btc-is-currently-less-than-one-eth-away-from-100000-says-trader">Bitcoin, Ethereum, Dogecoin Prep For Early Thanksgiving: &#8216;BTC Is Currently (Less Than) One ETH Away From $100,000,&#8217; Says Trader</a>
Why It Matters: The warning comes amid a broader cryptocurrency market surge, with total market capitalization reaching $3.3 trillion. Major institutions continue showing confidence in the sector, exemplified by MicroStrategy Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) recent $3 billion <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42126020/whats-going-on-with-microstrategy-stock-after-the-bell">convertible note offering to acquire additional Bitcoin</a>.
Supporting van de Poppe&#8217;s market rotation theory, other analysts including Milkybull project an upcoming &#8220;altseason&#8221; extending through March 2025. Technical indicators suggest alternative cryptocurrencies could see significant gains <a href="https://www.benzinga.com/24/11/42030200/bitcoin-dominance-decline-expected-next-month-analyst-projects-altseason-to-peak-by-march-2025">following Bitcoin&#8217;s correction periods</a>.
Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) is trading at $3,324, up 7.71%, in the last 24 hours, while Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) reached $254.05, gaining 6.79%.
Bitcoin is currently trading at $98,407, up 3.65% in the last 24 hours.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42124676/november-small-cap-surge-could-carry-into-decembers-santa-rally-historical-trends-suggest">November Small-Cap Surge Could Carry Into December&#8217;s Santa Rally, Historical Trends Suggest</a></li>
</ul>
Image Via Pixabay
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Bitcoin Analyst Warns Of '4-6 Flash Crashes' Before Year-End As It Inches Closer To $100K: That's The Moment Altcoins 'Shoot Off'

Several US states stand out as having not adopted legal adult-use cannabis or medical marijuana. One of them is <a href="https://www.benzinga.com/markets/cannabis/24/09/40858225/this-gubernatorial-nominees-cannabis-plan-could-generate-172m-annually-for-island-of-prohibition">Indiana</a>, where a new Republican-backed group is calling on state lawmakers to adopt policies to tax and regulate cannabis for adults 21 and older in the state.
A group called Safe and Regulated Indiana, which seeks to reshape Indiana&#8217;s approach to cannabis by focusing on public health, safety, and economic opportunity, came out on Thursday, <a href="https://indianacapitalchronicle.com/briefs/prominent-republicans-back-safe-and-regulated-marijuana-legalization-group/">reported</a> Indiana Capital Chronicle. 
"By embracing a smart and evidence-based approach that prioritizes public health, safety, and economic opportunity, we can give Hoosiers the access that they deserve and demand," said Joe Elsener, the group's spokesman and former Indiana Republican Party executive director.
<h3 class="wp-block-heading">Focus On Regulation, Not Legalization</h3>
Safe and Regulated Indiana's messaging avoids the term "legalization," but rather stresses "regulation."
A multimedia ad campaign <a href="https://app.frame.io/presentations/b3d9e5a9-44e4-4719-ac58-1124fcb33db0">already online </a>promotes the idea of taxing and regulating cannabis like alcohol to generate new tax revenue, reduce illegal drug sales and allow &#8220;new tax revenue for law enforcement,&#8221; to focus on violent crimes. It also claims regulation will put illegal dealers out of business.
"Tell your legislator it's time for safe and regulated marijuana," the ad concludes.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/40858225/this-gubernatorial-nominees-cannabis-plan-could-generate-172m-annually-for-island-of-prohibition">This Gubernatorial Nominee&#8217;s Cannabis Plan Could Generate $172M Annually For &#8216;Island Of Prohibition&#8217; Indiana</a>
Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.
<h3 class="wp-block-heading">Economic And Public Safety Impacts</h3>
Indianapolis City-County Councilor Michael-Paul Hart stated that regulating cannabis like tobacco and alcohol could prevent underage access, create thousands of jobs, and bring "hundreds of millions of dollars of new revenue" to Indiana.
<a href="https://www.benzinga.com/markets/cannabis/23/01/30362663/lawmakers-file-marijuana-bills-in-island-of-prohibition-indiana">Neighboring states </a>like Illinois, Michigan and Ohio have already legalized recreational marijuana, while Kentucky has approved medical cannabis.
However, Indiana's leadership remains resistant. Outgoing Governor Eric Holcomb has long opposed legalization, and Governor-elect Mike Braun recently expressed conditional support for medical cannabis, contingent on law enforcement input. Earlier in 2024, <a href="https://www.benzinga.com/topic/indiana-cannabis">Indiana</a> Democrats introduced <a href="https://www.benzinga.com/markets/cannabis/24/01/36579299/indiana-democrats-propose-bills-to-legalize-medical-and-adult-use-cannabis">bills to legalize</a> medical and adult-use cannabis.
<ul>
<li>Read Next: <a href="https://www.benzinga.com/24/11/42120174/can-idaho-lead-the-hemp-industry-perhaps-if-regulations-change">Can Idaho Lead The Hemp Industry? Only If Regulations Change</a></li>
</ul>
Cover: Safe and Regulated

Government

Regulations

GOP-Led Group Calls For Legal Cannabis In Indiana: 'Tell Your Legislator It's Time'

A decades-long Danish study has found no significant link between cannabis use and increased age-related cognitive decline in men, challenging persistent <a href="https://www.benzinga.com/markets/cannabis/24/09/40989263/long-term-medical-cannabis-use-has-no-significant-harmful-effects-on-memory-or-impulse-control-n">stereotypes about cannabis consumers.</a>
<h3 class="wp-block-heading">Key Findings</h3>
Researchers from the University of Copenhagen followed 5,162 men over an average of 44 years, examining cognitive aging from early adulthood to late midlife.
See Also: <a href="https://www.benzinga.com/24/11/42122260/study-reveals-psychedelic-ritual-cocktail-in-ancient-egyptian-mug">Study Reveals Psychedelic Ritual Cocktail In Ancient Egyptian Mug</a>
Contrary to common assumptions, the study revealed that cannabis users experienced slightly less cognitive decline than non-users. The average cognitive decline across the participants was 6.2 IQ points, with cannabis users showing 1.3 fewer IQ points of decline compared to non-users.
The findings, <a href="https://onlinelibrary.wiley.com/doi/10.1002/brb3.70136">published</a> in the journal Brain and Behavior, align with prior studies suggesting cannabis use is not associated with greater cognitive impairment in adulthood. 
However, the researchers caution that further investigations are necessary to determine if these results indicate no adverse long-term effects or if the effects of <a href="https://www.benzinga.com/markets/cannabis/24/08/40536603/can-thc-turn-back-the-clock-cannabis-reverses-brain-aging-boosts-mental-capacity-new-study-sugge">cannabis use dissipate over time.</a>
<h3 class="wp-block-heading">Expert Reactions</h3>
"These results contradict one of the more prominent and longstanding stereotypes about cannabis and cannabis consumers,&#8221; said Paul Armentano, deputy director of the National Organization for the Reform of Marijuana Laws (NORML).
"It is even more unfortunate that studies refuting these long-held stereotypes seldom receive the type of mainstream attention they deserve."
<h3 class="wp-block-heading">Context And Broader Implications</h3>
While this study adds to evidence refuting claims of significant cognitive decline in cannabis users, it is essential to note the distinction between adult and adolescent cannabis exposure. 
The US Centers for Disease Control and Prevention (CDC) warns that heavy cannabis use during adolescence may cause permanent changes to the developing brain, which continues to mature until approximately age 25.
In contrast, a separate recent study found <a href="https://www.benzinga.com/markets/cannabis/23/03/31293224/study-asserts-long-term-cannabis-use-leads-to-hippocampal-shrinkage-lower-iq-poor-learning-abil-">no adverse effects</a> on brain structure or cognitive function among adult medical cannabis users after a year of consistent use.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/11/42072269/cbd-based-drug-reduces-pericarditis-pain-and-inflammation-shows-new-clinical-study">CBD-Based Drug Reduces Pericarditis Pain And Inflammation, Shows New Clinical Study</a></li>
</ul>

Comments

PUIG BRANDS S.A. U/ADS by PUIG BRANDS S A

News

Latest news for PUIG BRANDS S.A. U/ADS by PUIG BRANDS S A (OTC:PUGBY) Stock

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga