Putnam Focused Large Cap Value ETF (ARCA: PVAL)

Latest news for Putnam Focused Large Cap Value ETF (ARCA:PVAL)

Principal Contrarian Value Index ETF

Financial Services

Industrials

Healthcare

Technology

Consumer Cyclical

Energy

Consumer Defensive

Utilities

Basic Materials

Communication Services

Real Estate

The fund is an actively managed ETF that operates pursuant to an exemptive order from the Securities and Exchange Commission (Order) and does not publicly disclose its complete portfolio holdings each business day. Instead, the fund publishes each business day on its website a Tracking Basket, which is designed to closely track the daily performance of the fund but is not the funds actual portfolio. The Tracking Basket is comprised of(1) select recently disclosed portfolio holdings and/or select securities from the universe from which the funds investments are selected (Strategy Components) (2) liquid ETFs that convey information about the types of instruments (that are not otherwise fully represented by the Strategy Components) in which the fund invests (Representative ETFs) and (3) cash and cash equivalents

Wal-mart Stores

Apollo Asset Management

Oracle Corp

Conocophillips

Citigroup

Cigna Group/The

Regeneron Pharmaceuticals

Coca-cola (equity)

Putnam Focused Large Cap Value ETF

In a recent development, the federal court of Australia has ruled that the local unit of PayPal Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) had an unfair term in its contracts with small businesses, leading to instances of overcharging.
What Happened: The Australian Securities &amp; Investments Commission (ASIC) announced that the court deemed PayPal&#8217;s term unfair, Reuters reported on Friday. This particular term required customers who failed to report overcharging errors within a 60-day period to accept the charges as accurate.
The court proceedings against PayPal were initiated by ASIC in September of the previous year. ASIC Deputy Chair Sarah Court stated, &#8220;Today&#8217;s decision serves as a reminder to all businesses that unfair contract terms contained within standard form contracts with small businesses will not be tolerated.&#8221;
Paypal has yet to respond to the queries sent by Benzinga.
See Also: <a href="https://www.benzinga.com/news/24/06/39497848/mark-zuckerbergs-pr-team-couldnt-stop-him-from-posting-my-spine-has-been-surgically-removed-said-for?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg&#8217;s PR Team Couldn&#8217;t Stop Him From Posting: &#8216;My Spine Has Been Surgically Removed,&#8217; Said Former Facebook Exec</a>
Why It Matters: The ASIC disclosed that PayPal cooperated voluntarily during the investigation. The company acknowledged that the term was unfair, agreed to the court&#8217;s declarations, and voluntarily removed the term from its contracts on Nov. 8, 2023. The court has also ordered PayPal to pay ASIC&#8217;s litigation costs. 
This ruling comes at a time when PayPal is <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39555108/paypals-new-leadership-and-strategy-poised-to-drive-profitable-growth-analyst-says">undergoing a transition phase</a>. The company&#8217;s new leadership and strategy are expected to drive long-term profitable growth. The company&#8217;s stock closed at 59.51 USD on July 5, 2024, down 0.22% from the previous close.
Price Action: On Wednesday, Paypal closed at $59.64 and was trading 0.23% lower at $59.50 during Friday&#8217;s pre-market, according to <a href="https://pro.benzinga.com">Benzinga Pro.</a>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/07/39611089/top-apple-executive-phil-schiller-to-join-openai-board-as-observer-giving-iphone-maker-equal-status?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Top Apple Executive Phil Schiller To Join OpenAI Board As Observer, Giving iPhone Maker Equal Status With Microsoft After Landmark AI Agreement Reached: Report</a></li>
</ul>
Photo: Lets Design Studio/Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Fintech news covering the emerging Financial Technology services sector

Fintech

News

Global

Small Business

General

PYPL

Paypal's 'Unfair Contract Term' With Small Businesses That Led To Overcharging Ruled Out By Australian Court

Shell plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>) shares are trading higher premarket today. The British energy company updated its operational outlook for the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/g39639449/shell-second-quarter-2024-update-note" rel="noreferrer noopener">second quarter of FY24</a>.
The company expects to incur non-cash post tax impairments of $1.5 &#8211; $2 billion in the quarter, including $0.6 billion &#8211; $0.8 billion in Singapore Chemicals &amp; Products assets and $0.6 billion &#8211; $1.0 billion in Rotterdam HEFA assets.
Notably, this week, Shell stated that it is temporarily pausing construction at its 820,000 tonnes-per-year biofuels facility in Rotterdam to address project delivery and ensure future competitiveness amid current market <a target="_blank" href="https://www.shell.com/news-and-insights/newsroom/news-and-media-releases/2024/shell-to-temporarily-pause-on-site-construction-of-european-biofuels-facility.html" rel="noreferrer noopener">conditions</a>.
Outlook Revised: For Integrated Gas, the company updated the production outlook to be 940 &#8211; 980 thousand boe/d (vs. 920 – 980 thousand <a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38584564/shell-q1-earnings-power-shines-despite-revenue-headwinds" rel="noreferrer noopener">boe/d expected earlier</a>) and LNG liquefaction volumes to 6.8 &#8211; 7.2 MT (<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/g38572837/shell-plc-publishes-first-quarter-2024-press-release" rel="noreferrer noopener">vs. 6.8 &#8211; 7.4 MT prior</a>).
Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39372721/shell-secures-major-lng-deal-with-temaseks-pavilion-energy-details" rel="noreferrer noopener">Shell Secures Major LNG Deal With Temasek&#8217;s Pavilion Energy: Details</a>
The outlook reflects that Trading and optimisation results are expected to be in line with second-quarter FY23 but lower than first-quarter FY24 <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">due to seasonality</a>.
For Upstream, Shell narrowed production guidance to 1,720 &#8211; 1,820 thousand boe/d (vs. 1,630 – 1,830 thousand boe/d earlier), with shares of profit / (loss) of joint ventures and associates expected to be ~$0.2 billion and exploration well-write offs projected to be ~$0.2 billion.
For Marketing, the company lowered the high end of the sales volume guidance, with the revised range at 2,700 &#8211; 3,100 thousand b/d (vs. 2,700 – 3,200 projected earlier).
For Chemicals &amp; Products, Shell currently sees refinery utilization of 91% &#8211; 95% (vs. 87% &#8211; 95% earlier), reflecting planned maintenance activities in North America and Chemicals utilization of 78% &#8211; 82% (vs. 72% &#8211; 80% prior).
The company projects Chemicals sub-segment adjusted earnings to be close to break-even in second-quarter FY24.
Shell stock has gained around 22% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Direxion Hydrogen ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HJEN#NYSE">HJEN</a>) and&nbsp;VanEck Natural Resources ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAP#NYSE">HAP</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39591365/shell-pauses-european-biofuels-facility-construction-reviews-project-economics" rel="noreferrer noopener">Shell Pauses European Biofuels Facility Construction, Reviews Project Economics</a>
Price Action: SHEL shares are up 1.21% at $73.89 premarket at the last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image by siam.pukkato via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/06/39507984/shells-move-toward-net-zero-emissions-to-build-carbon-capture-and-storage-project-in-canada" target="_blank" rel="noreferrer noopener">Shell&#8217;s Move Toward Net Zero Emissions &#8211; To Build Carbon Capture And Storage Project In Canada</a></li>
</ul>

Equities

Large Cap

Guidance

Market Vectors RVE Hard Assets Producers ETF

HJEN

SHEL

Shell Absorbs Charges, Pauses Project: Q2 Outlook Dims With Impairments and Biofuels Halt

Global Blue Releases Monthly Tax Free Shopping Business Update For June 2024: Says June 2024 Recovery Is Ahead Of April/May 2024 Recovery, Reaching 168%1 Vs. 163%1 In April/May

HC Wainwright &amp; Co. analyst Patrick Trucchio maintains Arrowhead Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARWR#NASDAQ">ARWR</a>) with a Buy and lowers the price target from $90 to $60.

Price Target

Analyst Ratings

ARWR

HC Wainwright & Co. Maintains Buy on Arrowhead Pharma, Lowers Price Target to $60

Even while dreading heavy losses in the ongoing market crash, the cryptocurrency community kept things light by sharing rib-tickling and self-deprecating memes on the social media platform, Reddit.&nbsp;
What Happened: Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) sank below $54,000, reaching the lowest since Feb. 26.
King Crypto's<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39638571/bitcoin-ethereum-dogecoin-in-full-meltdown-as-mt-gox-moves-2-7b-to-new-wallet-king-crypto-"> drag rippled through the market</a>, with Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and other altcoins bleeding profusely as well. The total market cap fell below $2 trillion for the first time in 18 weeks.
However, as with previous crashes, the cryptocurrency community maintained its meme game strong, with social media platform Reddit becoming the hub of light-hearted humor.&nbsp;
User u/UnderstandingOk8093 from subreddit r/Bitcoin posted a&nbsp;hilarious meme of a trader regretting not buying BItcoin at $54,000 when it hit an all-time high earlier this year, but deciding against it now when the price has actually fallen to $54,000.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="712" height="615" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/05025115/Screenshot-2024-07-05-121907.png" alt="" class="wp-image-420627" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/05025115/Screenshot-2024-07-05-121907.png 712w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/05025115/Screenshot-2024-07-05-121907-300x259.png 300w" sizes="(max-width: 712px) 100vw, 712px" /><figcaption class="wp-element-caption">Source: Reddit</figcaption></figure>
Another user, u/N-ve, highlighted the determination of a Bitcoin HODLer, who has become immune to pain after seeing numerous crashes and drawdowns.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="726" height="623" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/05025351/Screenshot-2024-07-05-122331.png" alt="" class="wp-image-420631" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/05025351/Screenshot-2024-07-05-122331.png 726w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/05025351/Screenshot-2024-07-05-122331-300x257.png 300w" sizes="(max-width: 726px) 100vw, 726px" /><figcaption class="wp-element-caption">Source: Reddit</figcaption></figure>
User u/redtrolleycar used the popular template that features a person representing Satoshi Nakamoto, Bitcoin&#8217;s creator. with a caption, &#8220;Bitcoin CEO is giving us a chance to stack cheaper sats.&#8221;
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="773" height="764" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/05030220/Screenshot-2024-07-05-123207.png" alt="" class="wp-image-420650" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/05030220/Screenshot-2024-07-05-123207.png 773w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/05030220/Screenshot-2024-07-05-123207-300x297.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/05030220/Screenshot-2024-07-05-123207-768x759.png 768w" sizes="(max-width: 773px) 100vw, 773px" /><figcaption class="wp-element-caption">Source: Reddit</figcaption></figure>
See Also:<a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39359780/dogecoin-shiba-inu-floki-are-dino-coins-says-trader-he-likes-these-3-other-meme-coins-as-b?itm_source=parsely-api"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39639117/crypto-billionaire-justin-sun-offers-to-buy-bitcoin-off-market-from-german-government-to-m">Crypto Billionaire Justin Sun Offers To Buy Bitcoin Off-Market From German Government To Minimize Price Impact, Lawmaker Slams Authorities For Selling</a>
Why It Matters: The cryptocurrency market has been hit hard by multiple bearish catalysts, including anticipated Bitcoin liquidations from defunct cryptocurrency exchange Mt.Gox, and potential sell-offs from the <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39639117/crypto-billionaire-justin-sun-offers-to-buy-bitcoin-off-market-from-german-government-to-m">German </a>and the <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39602414/us-government-bitcoin-transfer-raises-questions-about-future-policies">U.S. government.</a> 
While memes act as good cope, the broader market sentiment was gloomy. Popular cryptocurrency analyst Ali Martinez highlighted a sharp drop in capital invested in the market from $110 billion during peak to $20 billion today. 
<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">Capital continues to exit the <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw">#crypto</a> market, dropping from over $110 billion in March to $20 billion today! <a href="https://t.co/GhXplfgGlA">pic.twitter.com/GhXplfgGlA</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1809056354612752632?ref_src=twsrc%5Etfw">July 5, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Ali had earlier predicted of Bitcoin&#8217;s continued fall toward $51,000 in case it closed below $57,000. 
Price Action: At the time of writing, Bitcoin was trading at $54,195.52 , down 7.66% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Photo by SvetlanaParnikova on Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39639419/amid-bitcoin-crash-peter-schiff-forecasts-prolonged-bear-market-dont-say-i-didnt-warn-you-">Amid Bitcoin Crash, Peter Schiff Forecasts Prolonged Bear Market: &#8216;Don&#8217;t Say I Didn&#8217;t Warn You HODLers&#8217;</a></li>
</ul>

$BTC

$ETH

Bitcoin, Ethereum, Dogecoin Crash, Crypto Bros Turn To Memes As A Coping Mechanism - Here Are Some Of The Most Hilarious Ones

Former House Speaker Nancy Pelosi (D-Calif.) <a href="https://www.benzinga.com/etfs/specialty-etfs/24/07/39618512/nancy-pelosi-loads-up-on-more-nvidia-shares-sells-tesla-she-always-reports-right-before-a-hol">disclosed in a filing with Congress</a> last week that she sold 2,500 Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares on June 24 and the value of the transaction was indicated as $250,001-$500,000.
Pelosi, whose trades invariably come under the scanner due to the insider information she is privy to due to her membership in House committees, may not have been so successful with her Tesla trade this time around.
What Happened: Pelosi&#8217;s disposal of Tesla on June 24 may have fetched her $456,450, assuming it was sold at $182.58 apiece, which happens to the session&#8217;s closing price. It is not yet known if the representative has fully cashed out of the stock.
Pelosi&#8217;s previous Tesla trade was also a sale transaction done on Dec. 20, 2022. She then reported a part sale of 5,000 Tesla shares at a price of $140.39, booking a loss of $511,197 on the trade.
Tesla has been on an extended downtrend since peaking in late 2021 amid an industry-wide demand slowdown and the impact of successive price cuts in 2023 on its margins.
After consolidating around the $168-$185 range between May and late June, Tesla broke above the trading range. The stock has closed higher in each session since June 25 and has gained 35% over seven sessions. In the process, it broke above the $200 barrier and settled Wednesday up 6.54% at $246.39, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
The resurgence came amid positive expectations concerning Tesla&#8217;s second-quarter deliveries report after sell-side analysts significantly tempered their expectations. On Tuesday, Tesla reported above-consensus deliveries, although sales declined about 5% year-over-year. 
The stock, which is now trading at a six-month high, may not be yet on solid footing. A bullish fund manager, who cashed out of much of his Tesla holdings in early 2024, said <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39639428/this-tesla-bull-wont-blindly-change-his-position-and-resume-buying-the-stock-despit">he wasn&#8217;t in a hurry to add back in</a>, citing downward revisions to forward earnings estimates. He said he would wait for the quarterly earnings that will drop in later this month.
See Also: <a href="https://www.benzinga.com/money/best-electric-vehicle-stocks">Best EV Stocks</a>
Not-So Positive Move? Assuming Pelosi had held onto her Tesla stock, the 2,500 shares would now be worth $615,975. The differential with the sale price based on June 24&#8217;s closing price is roughly $105,000.
Since Pelosi&#8217;s exact purchase price can&#8217;t be ascertained, we may not know whether she made a profit/loss on the trade. But at least, this much is certain &#8211; Tesla&#8217;s stock rally potentially robbed her of about $100,000.
Pelosi, however, is known to be astute with her trades, which are mostly done by her husband Paul Pelosi, a businessman who runs San Francisco–based real estate and venture capital investment and consulting firm Financial Leasing Services.
Her huge bet on AI stalwart Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) alone may suffice to keep her balance sheet in the green. 
Stock trading by members of Congress has kicked up controversy over its legitimacy, given the insider information they may have about the companies they invest in. The &#8220;Stock Trading on Congressional Knowledge Act&#8221; requires lawmakers to publicly file and disclose any financial transaction within 45 days of its occurrence.
Read Next: 
<ul>
<li><a href="https://in.benzinga.com/content/39634970/teslas-india-investment-plans-on-ice-musks-team-reportedly-no-longer-in-touch-with-govt-officials">Tesla&#8217;s India Investment Plans On Ice? Musk&#8217;s Team Reportedly No Longer In Touch With Govt Officials</a></li>
</ul>
Photo via Shutterstock

Trading Ideas

NVDA

TSLA

Did Nancy Pelosi Miss A Trick By Selling Tesla Ahead Of Breakout? EV Maker's Stock Up 35% Since Congresswoman's Trade

Hong Lu has resigned from his position as a director, effective July 3, 2024. Mr. Lu will continue to serve the Company as senior vice president.
Following Lu&#39;s resignation, the Board has appointed Jianfeng Wu, Co-Chief Financial Officer and Executive Vice President of the Company, as a director, effective immediately.
As part of the organizational adjustments to streamline senior management team structure, the Company has decided to eliminate the Co-Chief Operating Officer&nbsp;position. Consequently, Xun Zhang and&nbsp;Gang Chen will no longer serve as Co-COOs. Zhang and Chen will both continue to hold key roles within the Company.

Management

ATAT

Atour Lifestyle Decides To Eliminate Co-COO Position

<a href="https://www.wsj.com/finance/regulation/jpmorgan-financial-regulations-charge-customers-d86ca9e4#:~:text=Lake%20said%20Chase%20is%20already,the%20industry%20will%20follow%20suit" title="https://www.wsj.com/finance/regulation/jpmorgan-financial-regulations-charge-customers-d86ca9e4#:~:text=Lake%20said%20Chase%20is%20already,the%20industry%20will%20follow%20suit">https://www.wsj.com/finance/regulation/jpmorgan-financial-regulations-charge-customers-d86ca9e4#:~:text=Lake%20said%20Chase%20is%20already,the%20industry%20will%20follow%20suit</a>.

Economics

Chase Bank Head  Marianne Lake Said Customers May Be Charged for Checking Accounts, Wealth-Management Tools;  Chase, Other Banks to Pass On Costs of Higher Regulation to Customers

Federal Reserve

NY Fed's Williams Said Artificial Intelligence, Climate Change, Deglobalization, Financial Innovations And Neutral Rate All Pose Issues

Shares of Sharps Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STSS#NASDAQ">STSS</a>) rose sharply in today's pre-market trading after the company announced it received two purchase orders for a total of approximately one million SecureGard syringes <a href="https://www.benzinga.com/quote/STSS/news">for 2024 delivery</a>.
Sharps Technology shares jumped 31.7% to $0.3030 in pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Qualigen Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QLGN#NASDAQ">QLGN</a>) rose 53% to $0.2683 in pre-market trading after gaining 6% on Wednesday.</li>
<li>Maxeon Solar Technologies, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAXN#NASDAQ">MAXN</a>) shares rose 18.7% to $0.2060 in pre-market trading. Maxeon Solar Technologies was recently granted U.S. Patent #12027636 for "Protection Coating For Solar Cell Wafers".</li>
<li>MediWound Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDWD#NASDAQ">MDWD</a>) shares rose 17.2% to $17.00 in pre-market trading after dipping around 7% on Wednesday.</li>
<li>Foresight Autonomous Holdings Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSX#NASDAQ">FRSX</a>) gained 16.9% to $1.15 in pre-market trading.</li>
<li>iCoreConnect Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICCT#NASDAQ">ICCT</a>) shares rose 16.8% to $0.9930 in pre-market trading after falling over 3% on Wednesday.</li>
<li>Zapp Electric Vehicles Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZAPP#NASDAQ">ZAPP</a>) rose 16.5% to $3.17 in pre-market trading after gaining around 14% on Wednesday.</li>
<li>GreenPower Motor Company Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GP#NASDAQ">GP</a>) shares gained 14.7% to $1.21 in pre-market trading after gaining 3% on Wednesday. The company recently posted downbeat FY sales.</li>
<li>Koss Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KOSS#NASDAQ">KOSS</a>) shares climbed 14.7% to $12.20 in pre-market trading. Koss shares jumped around 144% on Wednesday amid increased retail investor interest.</li>
<li>Archer Aviation Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACHR#NASDAQ">ACHR</a>) shares gained 9.5% to $4.61 in pre-market trading. Archer Aviation 10% owner SFS UK 1 LTD. acquired a total of 17,401,153 shares at an average price of $3.16.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Adamas One Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JEWL#NASDAQ">JEWL</a>) shares fell 19.3% to $0.3722 in pre-market trading after gaining 89% on Wednesday.</li>
<li>Maison Solutions Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSS#NASDAQ">MSS</a>) shares fell 15.9% to $1.11 in pre-market trading.</li>
<li>Zoomcar Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZCAR#NASDAQ">ZCAR</a>) shares declined 13% to $0.1593 in pre-market trading. Zoomcar Holdings shares jumped 34% on Wednesday after the company announced that it expects an increase in its FY24 total revenue and decline in its FY24 net loss.</li>
<li>TeraWulf Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WULF#NASDAQ">WULF</a>) shares fell 12.6% to $4.55 in pre-market trading after the company reported an unaudited monthly production and operations update for June.</li>
<li>Assure Holdings Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IONM#NASDAQ">IONM</a>) shares dipped 12% to $0.2750 in pre-market trading. Assure Holdings announced an 18-to-1 reverse stock split effective July 9 to maintain NASDAQ compliance.</li>
<li>Greenidge Generation Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GREE#NASDAQ">GREE</a>) fell 11.6% to $2.81 in pre-market trading after gaining over 4% on Wednesday.</li>
<li>Applied Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLD#NASDAQ">APLD</a>) shares fell 11.4% to $6.00 in pre-market trading after gaining around 7% on Wednesday. B. Riley Securities analyst Lucas Pipes, last week, maintained Applied Digital with a Buy and raised the price target from $6 to $8.</li>
<li>Iris Energy Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IREN#NASDAQ">IREN</a>) shares declined 10.9% to $12.78 in pre-market trading. Iris Energy announced on Tuesday that it has secured $413 million to fuel its Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) mining expansion.</li>
<li>HIVE Digital Technologies Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HIVE#NASDAQ">HIVE</a>) shares fell 10.7% to $2.72 in pre-market trading.</li>
<li>Bitdeer Technologies Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTDR#NASDAQ">BTDR</a>) fell 10.2% to $10.62 in pre-market trading amid a decline in Bitcoin prices.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/24/07/39639846/s-p-500-settles-at-new-record-even-as-fear-greed-index-moves-to-fear-zone">S&amp;P 500 Settles At New Record Even As Fear &amp; Greed Index Moves To &#8216;Fear&#8217; Zone</a>

Pre-Market Outlook

Markets

Movers

ACHR

APLD

BTDR

FRSX

GREE

HIVE

ICCT

IONM

IREN

JEWL

KOSS

Maxeon Solar Technologies, Ltd. - Ordinary Shares

MAXN

MDWD

Merrill Lynch & Strategic Return Notes for Select 10 Index

Qualigen Therapeutics, Inc. - Common Stock

QLGN

STSS

WULF

ZAPP

ZCAR

Why Sharps Technology Shares Are Trading Higher By Around 32%; Here Are 20 Stocks Moving Premarket

NY Fed's Williams There Is Still A Way To Go To Reach 2% Inflation Target On A Sustained Basis; We Have Seen Significant Progress In Bringing Inflation Back Toward Fed's 2% Target Rate

Mr. Steven Wei Feng has tendered his resignation as the Chief Financial Officer of NIO for personal and family reasons, effective July 5, 2024.
The board of directors of the Company (the &quot;Board&quot;) has approved to concurrently promote the Company&#39;s Senior Vice President of Finance, Mr. Stanley Yu Qu, as the new Chief Financial Officer.&nbsp;

NIO Appoints Stanley Yu Qu As New Chief Financial Officer, Qu To Replace Steven Wei Feng Who Has Tendered His Resignation As CFO For Personal And Family Reasons, Effective Immediately

Needham analyst Laura Martin maintains FuboTV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUBO#NYSE">FUBO</a>) with a Buy and lowers the price target from $3 to $2.

FUBO

Needham Maintains Buy on FuboTV, Lowers Price Target to $2

Needham analyst Laura Martin maintains Taboola.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TBLA#NASDAQ">TBLA</a>) with a Buy and lowers the price target from $6 to $5.

TBLA

Needham Maintains Buy on Taboola.com, Lowers Price Target to $5

Morgan Stanley analyst Alex Poon maintains NetEase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTES#NASDAQ">NTES</a>) with a Equal-Weight and maintains $100 price target.

NTES

Morgan Stanley Maintains Equal-Weight on NetEase, Maintains $100 Price Target

Fanhua Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANH#NASDAQ">FANH</a>) (the &quot;Company&quot; or &quot;Fanhua&quot;), a leading independent technology-driven financial services provider in China, today announced that its board of directors (the &quot;Board&quot;) has authorized the expansion of the Company&#39;s share repurchase program by an additional US$20 million, bringing the total authorized amount of share repurchase to US$40 million. The share repurchase program was intended to enhance shareholder returns and signals the Company&#39;s confidence in its long-term growth prospects. 
&nbsp;
As of June 30, 2024, approximately 726,616 American Depository Shares had been repurchased at an aggregate purchase price of approximately US$5.4 million since the inception of the share repurchase program in December 2022.
Alongside the Company&#39;s expansion of the share repurchase program, several of Fanhua&#39;s senior executives including Mr. Yinan Hu, founder and Chief Executive Officer, Mr. Peng Ge, Chief Financial Officer, and Mr. Ben Lin, Chief Strategy Officer, and Mr. Allen Lueth, independent director and chairman of the Audit Committee of the Board, have indicated that they will increase their personal shareholdings of Fanhua. Over the next 12 months, they intend to purchase up to US$5 million worth of shares of Fanhua.
The share repurchases will be made from time to time in the open market at prevailing market prices and/or in privately negotiated transactions, depending on market conditions and in accordance with applicable rules and regulations and the Company&#39;s insider trading policy. Fanhua plans to fund the corporate share repurchase program with its available cash reserve while the senior executives and director will use their personal funds.
Commenting on the expanded share repurchase program and management share buyback, Mr. Yinan Hu, founder and Chief Executive Officer of Fanhua, said, &quot;The Board&#39;s authorization to expand the share repurchase program demonstrates its confidence in our strategic plan for long-term growth and commitment to shareholder value. We firmly believe that the current stock price is significantly undervalued, as the stock trades at a substantial discount to our net cash value and net asset value and fails to reflect our long-term growth potential.&quot;
&quot;While the implementation of the commission cap since the&nbsp;second quarter&nbsp;of 2024 has posed significant challenges to the insurance intermediary industry in China, causing short-term fluctuations in our stock price, we believe the market is gradually adapting to these changes, and a new balance is forming. We remain confident in the robust prospects of China&#39;s insurance industry. Insurance assets, as defensive assets, will continue to grow, and insurance intermediaries, as independent third parties, possess unique advantages, serving as indispensable sales channels for both insurance companies and consumers. The deep integration of technology, particularly advancements in artificial intelligence, will drive down consumer acquisition costs, improve operational efficiency, and become a powerful catalyst for industry growth.&quot;
He continued, &quot;In response to the rapid changes in the industry, we have implemented proactive and effective measures to maintain stable operations. Bolstered by our strong cash generation capabilities, our balance sheet remains robust, providing us with significant financial flexibility to execute our growth strategies for sustainable long-term growth. Additionally, we have made notable progress in our intelligent strategic upgrades. Our AI agent &#39;Du Xiaobao,&#39; developed in collaboration with Baidu Smart Cloud, will officially launch in August. This innovation is expected to significantly enhance our customer service capabilities and operational efficiency, further solidifying our leading position and continuously creating value for our shareholders.&quot;
&quot;Our decision to invest personal funds in Fanhua reflects our strong belief in the company&#39;s future and our dedication to driving sustainable growth. We are confident in our strategic direction and are committed to delivering long-term value to our shareholders,&quot; said Mr. Hu.

Buybacks

FANH

Fanhua Doubles Share Repurchase Program to $40M, Leadership to Invest $5M Personally

In a recent development, Toyota Motor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) has announced that its internal investigation into car model certification applications has not uncovered any further instances of misconduct, beyond those previously reported last month.
What Happened: Toyota has completed a thorough examination of the certification process for all its domestic models over the past decade. This investigation was initiated in response to an industry-wide directive from the Japanese transport ministry, following a safety test scandal at Toyota&#8217;s Daihatsu compact car unit, as per their official press note on Friday.
In June, Toyota, along with four other automakers, confessed to submitting flawed or manipulated data during vehicle certification. The Japanese automaker has now reported its findings to Japan&#8217;s transport ministry and committed to continue implementing measures in accordance with the ministry&#8217;s guidance.
See Also: <a href="https://www.benzinga.com/markets/equities/24/07/39611697/tesla-set-for-new-all-time-highs-as-wall-street-bigwigs-simon-hale-and-rich-ross-back-ev-maker-f?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Set for New All-Time Highs As Wall Street Bigwigs Simon Hale And Rich Ross Back EV Maker For New Milestones: &#8216;This Should Not Be Ignored&#8217;</a>
Why It Matters: This certification investigation was triggered by<a href="https://www.benzinga.com/markets/asia/24/06/39132201/toyota-temporarily-halts-shipments-and-sales-of-three-models-in-japan-after-government-finds-falsifi"> the Daihatsu scandal</a>, which resulted in a record low shareholder support for Toyota&#8217;s Chairman Akio Toyoda, dropping to 72% at its annual general meeting. The investigation was initially delayed due to issues related to vehicle emissions and fuel efficiency during certification applications.
Toyota temporarily halted shipments and sales of three models in Japan following the investigation revealing falsified safety data. This was followed by a <a href="https://www.benzinga.com/government/24/06/39155162/toyotas-quality-control-in-question-japanese-auto-giant-recalls-100k-cars-in-us-over-engine-debris-f">recall of over 100,000 vehicles</a> in the U.S. due to concerns over engine debris causing them to stall.
The series of scandals had a significant impact on Toyota&#8217;s market value, which <a href="https://www.benzinga.com/markets/asia/24/06/39244543/toyotas-market-value-plunges-over-15b-amid-test-falsification-scandal-mazda-honda-suzuki-follow-suit">plunged by over $15 billion</a>. 
Price Action: According to <a href="https://pro.benzinga.com">Benzinga Pro</a>, Toyota closed at $206.25 on Wednesday.
Read Next: <a href="https://www.benzinga.com/news/24/07/39613049/tesla-ceo-elon-musk-divulges-his-publicly-traded-stock-portfolio-and-its-in-stark-contrast-to-that-o?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla CEO Elon Musk Divulges His Publicly Traded Stock Portfolio, And It&#8217;s In Stark Contrast To That Of Bill Gates</a>
Photo via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Toyota Says It Has Not Found Any Further Wrongdoing In Certification Applications Beyond Those Reported Earlier

A local government <a href="https://www.benzinga.com/markets/equities/24/07/39617169/byd-set-to-surpass-tesla-in-bev-sales-by-2024-as-china-leads-global-market-growth-report">in China</a> has reportedly included Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Model Y SUV among the list of electric models that it could buy as a service car.
What Happened: The Eastern Jiangsu provincial government listed the Model Y among other Chinese-branded EVs and hybrids in addition to the Volvo XC40, local news outlet The Paper <a href="https://www.thepaper.cn/newsDetail_forward_27957633">reported</a>. Volvo, however, is owned by China&#8217;s Zhejiang Geely Holding Group. 
As per the report, this is the first time that Tesla cars have been ascertained eligible for government purchase in the country. 
The Model Y is Tesla&#8217;s best-selling vehicle. It starts at 249,900 yuan (about $34,387) in China with the more premium performance all-wheel drive version starting at 354,900 yuan (about $48,835)
Earlier in May, China <a href="https://www.benzinga.com/markets/asia/24/05/38782261/china-greenlights-another-big-tesla-factory-this-time-for-megapack-project">greenlit another big Tesla factory</a> for a megapack project. 
Why It Matters: Tesla <a href="https://www.benzinga.com/news/24/07/39615273/tesla-more-than-doubles-energy-storage-deployment-to-mark-its-best-quarter-yet-even-as-ev-demand-con">delivered 443,956 vehicles</a> in the second quarter globally, marking a 4.8% drop from last year but still beating the consensus estimate. Tesla&#8217;s mass-market offerings, the Model 3 and Model Y, account for a majority of these deliveries. 
While Tesla does not segment its deliveries by geography, <a href="https://www.benzinga.com/24/05/39020599/tesla-chinas-steep-model-y-output-cut-lucid-wields-the-ax-ford-rumored-to-ease-dealer-requirements-f">a previous report</a> said that the EV maker cut Model Y&#8217;s production from the Giga Shanghai facility by a double-digit percentage since March.
Price Action: Tesla shares closed up 6.5% at $249.39 on Wednesday. The stock is down 0.8% year-to-date, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39633301/tesla-ceo-elon-musk-laughs-at-waymo-getting-flagged-down-by-police-for-driving-into-opposing-lanes-o" target="_blank" rel="noreferrer noopener">Tesla CEO Elon Musk Laughs At Waymo Getting Flagged Down By Police For Driving Into Opposing Lanes Of Traffic: ‘Comedy Writes Itself'</a></li>
</ul>
Photo courtesy: Shutterstock

Tech

Media

Tesla Model Y Features On Chinese Government's Purchase List In A First For Elon Musk's Company

Keefe, Bruyette &amp; Woods analyst Meyer Shields maintains Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) with a Outperform and maintains $194 price target.

Keefe, Bruyette & Woods Maintains Outperform on Allstate, Maintains $194 Price Target

Macro Economic Events

Econ #s

Mortgage Rate (GBP) 7.98% Vs. 7.93% Prior

The 60/40 Portfolio: Still A Viable Strategy?

The Great Paradox Of The U.S. Market

Beyond The Magnificent Seven: Looking For Opportunities In Value Stocks

Equity Investing: A Strategic Mindset For A Changing World

Four Reasons To Consider Value Investing Now

Overlook Style Regimes At Your Peril

PVAL: Putnam's Large Cap Value ETF Ranked 2nd For Its Investment Style

PVAL: Leveraging Sector Performance With A Large Cap Value ETF

Value Stocks: Cracking The Quality Code

VIG: I'm Downgrading This $93 Billion Dividend Growth ETF

ABEQ

ACTV

AFMC

AFSM

AIEQ

AIVL

ALTL

AMOM

ANEW

ARKK

ARKQ

ATFV

AUSF

AVLV

AVUV

BAPR

BBJP

BBRE

BOTZ

BUFF

CACG

CFCV

CGDV

CLRG

COWZ

DBEF

DBJP

DFNV

DGRO

DGRW

DIVB

DIVY

DIVZ

DTEC

DURA

DWAW

DWMF

DWUS

DXJS

ECLN

EDOW

EFAX

ENTR

EQRR

ESGD

ESGS

EWJV

FBCG

FBCV

FBGX

FDMO

FDRR

FDVV

FLJH

FLJP

FMAG

FNDB

FNDX

FPRO

FQAL

FREL

FUNL

FUTY

FVAL

GGRW

GSIE

GSJY

GURU

GVIP

HEFA

HEWJ

HFXI